MODULE 1 - Strategic HR Management Flashcards Preview

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Flashcards in MODULE 1 - Strategic HR Management Deck (84)
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Acquisition

Market entry strategy that results in expansion of company's employee base and facilities.

1

Assignees

Employees who work outside their home countries.

2

Authority

Relates to the scope of responsibilities that define the area in which a manager or supervisor is empowered to make decisions.

3

Balanced scorecard

Measurement tool to evaluate organizational strategies; looks at financial, customer, operations, and learning and growth measures.

4

Benchmarks

Best practices extracted from the activities and achievements of organizations throughout a sector.

5

Brownfield operation

Market entry strategy in which a company repurposes, through expansion or redevelopment, an abandoned, closed, or underutilized industrial or commercial property.

6

Center of excellence

HR organizational alternative established as an independent department that provides services within a focused area to internal clients.

7

Chain of command

Refers to a line of authority within an organization.

8

Civil law

Legal system based on written codes (laws, rules, or regulations).

9

Common law

Legal system in which each case is considered in terms of how it relates to legal decisions that have already been made; evolves through judicial decisions over time.

10

Contract manufacturing

Market entry strategy that involves contracting for the manufacture of components or products as a means of lowering labor costs.

11

Corporate social responsibility (CSR)

Recognition of the impact a corporation has on the lives of its stakeholders (including shareholders, employees, communities, customers, and suppliers) and the environment; can include corporate governance, corporate philanthropy, sustainability, and employee rights and workplace safety.

12

Cosourcing

Arrangement in which an enterprise and a vendor share different tasks within a larger complex, often strategic responsibility.

13

Culture

Shared system of values, beliefs, and attitudes.

14

Data mining

Process of searching through large databases to identify relationships and trends.

15

Dedicated HR

HR organizational alternative that allows businesses with different strategies in multiple units to apply HR expertise to each unit's specific strategic needs.

16

Dilemma reconciliation

Process of charting a course through cultural differences.

17

Due diligence

Process of investigating and evaluating the details of a business decision that may affect its outcome before mergers, acquisitions, partnerships, alliances, and outsourcing.

18

Due process

Agreed procedures through which a government's written and publicly disclosed laws are enforced.

19

Environmental scan

Survey of external environment to identify potential opportunities and threats.

20

Equity partnership

Market entry strategy that involves acquiring partial ownership through purchase of shares; maybe general (sharing proportionally in control, profits, and liabilities) or limited (no managerial authority, liability limited to investment).

21

Ethnocentrism

Approach to managing operations in which headquarters maintains tight control over international operations by staffing key positions and subsidiaries with headquarters personnel.

22

Extraterritorial laws

Laws that extends certain legal requirements of a home country to the activities of its citizens traveling abroad and it's entities (for example, corporations and parentheses operating in host countries.

23

Extraterritoriality

(1) state of being beyond the jurisdiction of local laws; (2) extension of the power of the country's laws over its citizens outside the country's sovereign national boundaries.

24

Foreign corrupt practices act (FCPA), US

US law that prohibits bribery of foreign government officials by US persons and firms, including their non-US subsidiaries and third-party agents (for example, supply-chain partners).

25

Foreign direct investment (FDI)

Investment of foreign assets into domestic structures, equipment, and organizations.

26

Formalization

Refers to the extent to which rules, policies, and procedures govern the behavior of employees in an organization.

27

Forum shopping

Situation in which a plane to bring suit in a jurisdiction more likely to be sympathetic to his or her claims; also known as jurisdiction shopping.

28

Franchising

Market entry strategy in which a trademark, product, or service is licensed for an initial fee and ongoing royalties.

29

Front-back structure

Organizational structure that divides an organization into "front" functions, which focus on customers or market groups, and "back" functions, which design and develop products and services.