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PHR > Unit 1 - Business Management (HRCP) > Flashcards

Unit 1 - Business Management (HRCP) Flashcards

1
Q

Major HR Fuctions

A
  • Staffing
  • Performance management
  • compensation & benefits
  • Training & development
  • Employee Relations
  • Safety/health
  • Hr Research
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2
Q

Primary Purposes of HR Policies (3)

A

1) reassure employees that they will be treated fairly
2) help managers make rapid and consistent decisions
3) give managers the confidence to resolve problems & defend their decisions

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3
Q

Topics covered in handbook

A
  • statement of welcome
  • brief history of company
  • mission or vision statement
  • policy statement
  • Compensation info
  • Workplace conduct
  • Holidays, vacation time, PTO policy
  • Benefits
  • Emergency procedures
  • Disclaimer that handbook is not legally binding
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4
Q

Main Roles of HR Manager (3)

A

1) advisory & counseling role
2) Service role (recruiting, training, orientation)
3) Control Role (functional authority) -established policies, monitors compliance

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5
Q

HR Roles in organization (4)

A

Role 1: management of firm infrastructure- deliver efficient HR processes for staffing, training, promoting etc
Role 2: Management of Employee Contributions- increases employee commitment & competence
Role 3: Management of Strategic HR- interact with other leaders
Role 4: Management of transformational change - “change agent” - seen as interested in the good of the company

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6
Q

Nine HR Competencies from HRCS Model

A

1) Strategic positioners- point people in right direction
2) Credible activists- get people moving in right direction; relationships of trust
3) Paradox Navigator- able to navigate decentralized and centralized functions
4) Culture & Change agent - agent for change
5) Human Capitol Creator- care for the talent of the organization
6) Total Reward Steward- manage financial and non-financial rewards
7) Technology & media integrator- use tech & social media to create drive in organization
8) Analytics designer & interpreter-able to analyze and interpret data to improve decision making
9) Compliance Manager- ensure compliance by following laws and regulations

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7
Q

Commonly Used Methods of Budgeting (6)

A

~Incremental budgeting- previous budget is basis for new one
~Top Down budgeting- upper level management sets budget & gives to lower level management
~Bottom up Budgeting- lower level managers determine for their dept and submit to upper management for approval
~Activity Based budgeting- org determines which activities need to take place to meet its goals
~Formula Based budgeting- calculated using pre determined formula based on factors such as enrollment- often used in higher education
~Zero based budgeting- starts from zero, managers are required to identify every activity & justify every expense

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8
Q

Role of Mission Statement

A

Explains why an organization exists, whom it serves and why

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9
Q

Vision Statement

A

What the company will become if successful

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10
Q

Purpose Statement

A

Explains what organization seeks to accomplish and why

Ex: How is the world going to be different as a result of our company? Or How will things be better?

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11
Q

Business Statement

A

Identifies the orgs business activities or functions

Ex: construction company builds homes for 1st time buyers

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12
Q

Value Statement

A

Explains the values and beliefs that members hold in common & try to follow

Includes commitment to customer svc, innovation, diversity, creativity, integrity and personal development

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13
Q

Define Strategy

A

Involves the combination of goals and plans to achieve competitive advantage

AKA game plan

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14
Q

Describe Strategy’s Role in an Organization ( 4)

A
  • Promotes the mission and goals the org is striving to achieve
  • Long term focus that extends beyond the immediate time frame
  • Define the action plans the org intends to follow to achieve mission & goals
  • Recognize the impact of the external environment, reactions of competitors
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15
Q

List the Three Grand Strategies by Michael Porter

A

1) Cost Leadership- low cost producer- selling products & services at lower cost (WAL-MART)
2) Differentiation- having unique product in market, high quality, extraordinary svc, innovation design, unusually positive brand image (TOYOTA / MAYTAG)
3) Focus Strategy - aims at either cost advantage or a differentiation advantage in a niche market- specific product, specific buyer (VIRGIN VOYAGES- adults only cruise line)

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16
Q

Value Chain Analysis

A

A set of activities that an org carries out to create value for its customers. Can use to examine all of their activities and see how they’re connected.

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17
Q

5 Primary Activities Related to Value Chain

A

1) inbound logistics- materials, handling, storing, receiving
2) Operations - changes input to outputs that are sold to customers
3) outbound logistics- collecting, scheduling, order processing
4) Marketing & sales- advertising, promoting
5) service- installing, repairing, training

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18
Q

Purpose of Value Chain Analysis

A

To increase production efficiency so that a company can deliver max value for the least possible cost

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19
Q

How are strategies formulated? (6)

A

1) identify the orgs mission- what business are we in?
2) Analyze the environment & identify the opportunities it wants to pursue and threats it wants to avoid - environmental scanning
3) Analyze the orgs resources - identify strengths & weaknesses
4) Combine external & internal analysis and create generic strategy to follow
5) Implement strategy appropriately- requires competent leaders
6) Evaluate & monitor orgs results & maintain its competitive advantage

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20
Q

Define Five Forces Model (definition only)

A

Identifies the major environment forces of an industry analysis- suggests that an industry’s profit potential is a function of the interactions of 5 sources

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21
Q

List the 5 sources FIVE FORCES MODEL

Affects the organization -helps and hinders

A

1) Suppliers- firms depend on for materials
2) Buyers- maximize revenue, buyers want to purchase goods at lowest price
3) Rival firms- competition of rivals
4) Substitute products- substitutes do not need to be other products, can also be other processes or activities that elimate the need
Ex: water company uses flat rate instead of charging per gallon
5) New Entrants- threaten existing competitors

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22
Q

Common Components found in Business Plans (7)

A
  • Executive summary
  • Description of company & history
  • Description of products & svcs
  • Marketing plan & analysis
  • Management team
  • Budget and financial analysis
  • Operations plan describing actions & responsibilities w/timetable & realistic measurable goals
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23
Q

5 Groups of Project Management Processes (5 Steps)

A

1) Initiating- idea for project- team is assembled
2) Planning- defines the scope of project- creates a plan defining goals, costs, needs & avail resources
3) Executing- assigns responsibilities- work on project begins
4) Monitoring & controlling- measures the results
5) Closing- project is completed & outcomes and processes are evaluated

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24
Q

Purpose of HR Budget (3)

A

1) coordination & integration -requires establishing objectives
2) motivation- involves goals setting & feedback
3) control & evaluation- monitoring the performance & controlling actions

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25
Q

Purpose of HR Audit

A

Purpose is to identify area of potential vulnerability including legal compliance issue, employee theft or fraud, turnover, negligent hiring, poor performance, etc

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26
Q

Process of Audit (6 steps)

A

Step 1: define the responsibilities of hr dept, clarify objectives
Step 2: Ask employees how HR is performing
Step 3: Analyze the data & benchmark the results
Step 4: Review & interpret result
Step 5: Develop an action plan
Step 6: Implement & follow

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27
Q

Purpose of HR Accounting

A

to improve quality of financial decisions affecting HR activities- also helps provide info that helps managers make accurate decisions about recruiting, hiring, training, supervising, evaluationing, etc

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28
Q

Define HR Accounting

A

process of identifying & measuring HR data & communicating the info along w/financial data to stakeholders

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29
Q

3 Frequent Methods of HR Accounting

A

1) outlay cost (historical acquisition cost)- value of “human capitol” includes all costs related to recruiting, selecting, training & developing employees for a firm
2) Replacement cost- the economic worth of a worker is equal to the estimated cost of recruiting, hiring and training a replacement, or of finding an employee with a similar set of skills and talents.
3) HR value- expected contribution to the firms net income for individuals @ each level in the firm

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30
Q

Define Balanced Scoreboard

A

A management performance tool that assesses how well an organization is meeting it’s goals by evaluating both financial & non financial KPI - also looks at performance indicators relating to customers, internal processes & organizational learning

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31
Q

Balanced Scoreboard measures what 4 main aspects?

A

1) financial goals
2) customer goals
3) internal business goals
4) innovation & learning goals

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32
Q

List the Benefits of Outsourcing HR functions (3)

A

1) outside experts are better prepared to stay current on Tech advances and new laws
2) experts can use their expertise & broader perspective to do functions better
3) can use economies of scale to perform HR functions more efficiently

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33
Q

List HR functions that are likely to be outsourced

A
  • Payroll
  • record keeping
  • outplacement & relocation
  • recruitment
  • benefits
  • retirement counseling
  • drug testing
  • training
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34
Q

Define HRIS

A

collection of information about people working for organization - Think ADP

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35
Q

Major uses of HRIS include the following: (5)

A

1) HR planning- replacements & promotions
2) Diversity reports- how many employees of each sex & ethnicity
3) Compensation reports- how much each employee is paid
4) Personal research- turnover- absenteeism
5) training needs assessment- analyze whether employees need further training

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36
Q

Process of Selecting an HRIS (10)

A

1) Assemble a committee- may include HR Manager, information technology rep, payroll rep, operations manager, HR specialists
2) Conduct a needs assessment
3) Define selection parameters - budget, resources, timeline, etc
4) Create a list of available HRIS products- all viable options
5) Evaluate options against criteria
6) Narrow down options
7) Request bids from vendors
8) Ask for demonstration from top vendors
9) check references - ask to provide list of current clients
10) Select a system

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37
Q

Define Employee Portal

A

Allows employees to access their own personal info and other company resources. Normally through intranet

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38
Q

Define an Environment Sector

A

Represents an important segment of environment that has the potential for influencing the survival & effectiveness of the organization. In strategic planning managers need to examine each of these sectors to discover any competitive advantages or exploit weaknesses.

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39
Q

List the 8 Important Environmental Sectors

A

1) HR Sector- labor market, universities
2) Raw Materials Sector- suppliers, parts, manufacturers
3) Government Sector- laws & agency requirements, judicial system, taxes
4) Economic Sector- economic growth, interest rates, unemployment rates, recession
5) Financial Resources sector- banks, stock market, venture capitalists, savings & loans
6) Consumer Market Sector- consumers, clients, patients, students
7) Technology sector- research institutes, new machines, scientific journals, automation
8) Industry Sector- competition, size and composition of similar firms

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40
Q

Define Environmental Scanning

A

examines the economic and social forces influencing the org

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41
Q

PESTLE

A

helps HR managers define external factors

Political- employment law, tax policies
Economic - unemployment rate, competition, economic growth
Social - immigration, attitudes about careers
Technological - advances in tech, innovation
Legal - employment laws, discrimination
Environmental - weather, climate

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42
Q

Most Important Aspects of Environmental Scanning (5)

“Impacts on HR”

A

Economic conditions- interest rates, inflation - ex: 2008 economy tanked & turnover rates dropped

Unemployment- more workers than jobs, recruiting costs

Inflation- High interest rates - ex: interest rates go up->cost of capitol increases->reduces amt of business investment

Competition- as competition increases btw companies less incentives & rewards are being offered

Tech Advances- increased productivity

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43
Q

3 Legislative branches

A

Legislative branch- congress, house of reps & senate - makes laws

Executive Branch- president, vp, cabinet, fed agencies - carries out laws

Judicial Branch- Supreme Court & lower courts - evaluates laws

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44
Q

What Orgs can do to reduce uncertainty (7)

A

1) Changing the org structure -as environment structures become more complex the org needs buffering dept
2) Planning & forecasting - creating contingency plans
3) Mergers & acquisitions - merge with another company. ex: soft drink company acquires bottle making company
4) Cooptation- like a board of directors
5) Public relations & advertising- influence consumer opinion of company. ex: hospitals advertising their services
6) Political activity- companies form associations to have a greater voice in influencing new regulations. ex: National Association of Manufactures
7) Illegal Activity-bribes, payoffs, promo gifts, illegal mergers, etc.

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45
Q

Define Rate of Change

A

is the speed at which a variable changes over a specific period of time.

can be fast or slow- depending on tech advances & consumer preferences

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46
Q

Define Complex Environment

A

org is required to interact with numerous external elements, such as suppliers, vendors & customers, regulatory agencies, financial institutions, labor unions, etc EX: TEAM TOYOTA

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47
Q

Define Simple Environment

A

Contains very few external environments EX: chicken farm, family owned small business

48
Q

The combo of COMPLEX vs SIMPLE and FAST vs SLOW produces 4 different organization environments- List them

A

1) Entrepreneurial organizations - fast change/ Simple
2) Flexible organizations- fast change/complex
3) Proprietorship Organizations - slow change/simple
4) Institutional Organizations - Slow change/complex

49
Q

Functional Departmentalization

A

organizes employees based on function or skill set. Most widely used because of it’s efficiency

For example, a manufacturing company may create a production department, sales and marketing department, an accounting department, and a human resources department.

50
Q

Product Departmentalization

A

organizes employees based on which product line or set of services they work with

51
Q

Disadvantage of Decentralization (4)

A

1) makes it more difficult for certain shared functions to be executed
2) can create disputes & conflicts over priorities (since each unit essentially becomes an independent area)
3) Requires greater competence and expertise on the part of decision makers and requires more involvement
4) Decisions made by many lower level managers create difficult problems of coordination & Integration

52
Q

5 Methods of Achieving Coordination

A

1) DIrect Supervision- coordinated by direct supervisors
2) Standardization of work processes- highly routine jobs can be standardized
3) Standardization of outputs- when products must be produced to tech specifications
4) Standardization of Skills- highly skilled & trained emp can typically coordinate own activities by performing consistently with their technical training
5) Mutual Adjustment- constant interchange of informal communication through meetings, task forces, etc

53
Q

Explain Division of Labor

A

specialization of tasks in any org so that participants may specialize

ex: food gathering- men/hunter - women/gatherers

54
Q

Explain Span of Control

A

refers to number of subordinates or direct reports a supervisor is responsible for

55
Q

Explain Matrix Structure

A

two or more types of organizational structures- individuals report to more than one supervisor

56
Q

Define Line Activities

A

all production related- assembling, painting, inspection & shipping

57
Q

Define Staff Activities

A

Supportive activities- provide svc & advice to personnel

ex: HR, Legal Dept, Accounting

58
Q

Mechanistic Structure

A

bureaucracy; centralized decision making, formal rules and control- ideal for an org that is very stable environment that mass produces products or where products seldom change.

Ex. General Motors

59
Q

Organic Structure

A

More flexible; decentralized decision making, informal rules. People work largely unsupervised. Ideal for very unstable environment w/rapidly changing consumer preference & market.

Ex. Health Care Companies

60
Q

Organizational Culture

A

organization rules & beliefs

61
Q

Organizational Climate

A

characteristics that are temporary & capable of being change

Think weather

62
Q

4 Levels of Organization Culture

A

1) cultural artifacts- tangible aspects of culture- office furniture; grooming standards
2) shared norms- how group members act; Ex. if emp are 5-10 late for meeting then being on time is not an important norm
3) Cultural Values- collective beliefs, ideals, feelings
4) Shared Assumptions- most powerful; how people think about what happens in orgs

63
Q

How does Organization Culture Develop?

A

created by founders values & preferences, industry demands, goals & assumptions

64
Q

2 Major Challenges that Impact Development of Culture

A

1) External Adaptation- the way an org survives by coping w/ constantly changing external environment
2) Internal Integration- establishing & maintaining effective working relationships among the members of an org

65
Q

List the Forces that Contribute to maintaining an Org’s culture. (6)

A

1) Selection & retention
2) Allocation of rewards and status
3) Reactions of leaders
4) rites & ceremonies
5) stories & symbols
6) reaction to crises

66
Q

List Steps for Changing an Org’s Culture

A

1) conduct a culture audit
2) assess the need for change
3) Unfreeze the current culture
4) Elicit support from the cultural elite (top management)
5) Implement an intervention strategy
6) monitor & evaluate

67
Q

Define Creativity

A

an ability to produce original, inventive & valuable ideas and concepts

68
Q

Define Innovation

A

Process of making creative ideas useful

69
Q

Characteristics of an Inclusive Workplace (8)

A

1) welcoming culture; treated with respect & dignity
2) Policies in place abt equality & human rights
3) Members of staff are aware of inclusive values
4) Workforce represents the local community of customers
5) Employees are encourage to develop & progress
6) Unnecessary hierarchies & occupation segregation are discouraged
7) Org is aware of potential tensions in the workplace and take action to address them
8) Inclusive strategies are fully supported and promoted by senior staff

70
Q

Factors that contribute to Globalization (9)

A

1) Trade agreements
2) searching for new markets & reduced costs
3) Rapid & extensive communication- internet
4) Rapid development & transfer of new tech
5) Improving global education & global talent pool
6) Increased travel & migration
7) Knowledge sharing
8) E-Commerce- company website
9) Homogenization of culture & consumer demand

71
Q

List Stages of Global HR Management (6)

A

1) Import-Export Firms- products moved across national boundaries- does not employ emp -HR remains unchanged
2) Multinational Enterprises (MNC)- firm has corporate locations in foreign countries-require expatriate managers who are sent to headquarters to oversee foreign operations - HR does hiring, training, complying w/foreign law, monitoring labor costs
3) Global Firms- when a firm has corporate units in multiple countries that interact both w/headquarters & eachother - global HR policies w/a minimum of country specific adapatations
4) Born Global called “global startup”- are often in the tech industry- HR function may involve acquisition of global talent, management of international travel (ex. Skype)
5) Off- Shoring- relocated one of more of it’s processed to another country -HR will manage expatriate assignments & coordination w/head office
6) Global Outsourcing-involves contracting the operations of a specific business process to a third-party provider - HR needs skills in managing international contractual agreements & navigating cross- cultural relationships

72
Q

List the Approaches to Global HR (4)

A

1) Ethnocentric- hires people from the parent country to fill positions all over the world
2) Polycentric- the nationals of the host country are recruited for the managerial positions to carry out the operations of the subsidiary company.
3) Regiocentric-managers are selected from different countries lying within the geographic region of business.
4) Geocentric-where the Multi National Companies recruit the most suitable employee for the job irrespective of their Nationality.

73
Q

6 Cultural Values described by Gert Hofstede

A

1) Power Distance- rich vs poor or leaders vs followers
2) Uncertainty Avoidance- degree of tolerance people have for ambiguity and whether they feel threatened by certain situations
3) Individualism vs collectivism- relationship btw the individual and the larger society. Ex: individualistic countries are the US & Canada while collective cultures are Asia & South America
4) Masculinity vs femininity- how society perceives social gender roles- low masculinity countries Scandinavia/high masculine countries are Japan, Austria & Italy

74
Q

Global HR Management involves managing 3 kinds of workers -

A

1) Expatriate- employee who is assigned to work for the home company in another country
2) Third- Country Nationals (TCN)- employees who are neither citizens of the home nor host country. Usually technical or professional employees who are hired for short term assignments.
3) Local Nationals- host country nationals, workers who are hired by a multinational company to work in their own country

75
Q

List Advantages and Disadvantages of hiring Expatriates

A

Advantages:

  • Understand parent company and culture
  • Assignment provides internal exp
  • Transfers expertise to locations abroad

Disadvantages:

  • high failure rate
  • adjustment to local culture
  • unfamiliar with local laws
  • Considerable cost for international relocation
76
Q

List Advantages and Disadvantages of hiring Local Nationals

A 
Advantages:
-Already speaks language
-accustomed local culture
-familiar w/local laws & employment pratices
-Cost of overseas transfer eliminated 
Disadvantages:
-Not familiar with parent company
-Difficulty in communication w/parent company
77
Q

Explain Hersey & Blanchards Situational Leadership Theory aka Hersey-Blanchard Model (4 Leadership Styles)

A

Leaders adjust their styles to those the lead & their abilities
According to the model, the following are styles of leadership managers can use:

  • Delegating style: A low-task, low-relationship style wherein the leader allows the group to take responsibility for task decisions. This is best used with high maturity followers.
  • Participating style: A low-task, high-relationship style that emphasizes shared ideas and decisions. Managers can use this style with moderate followers who are experienced but may lack the confidence to do the tasks assigned.
  • Selling style: A high-task, high-relationship style in which the leader attempts to sell their ideas to the group by explaining task directions in a persuasive manner. This, too, is used with moderate followers. Unlike the previous style, these followers have the ability but are unwilling to do the job.
  • Telling style: A high-task, low-relationship style wherein the leader gives explicit directions and supervises work closely. This style is geared toward low maturity followers.
78
Q

Explain Fred Fiedlers Contingency Theory of Leadership

A

believes that leadership style is fixed & can be measured using a scale he developed called Least Preferred Co-worker (LPC) - basically think of of your least favorite coworker- rate how you feel about this person for each factor & add up your scores. Low LPC leaders are more task oriented & relationship building is low. High LPC leaders value more personal connections & good at avoiding and managing conflict.

Example:
Friendly 1 2 3 4 5 6 7 8 9 10 Unfriendly
Unpleasant 1 2 3 4 5 6 7 8 9 10 Pleasant
Rejecting 1 2 3 4 5 6 7 8 9 10 Accepting

79
Q

Explain Path Goal Model (leadership Theory) (4 different types of leaders)

A

Managers job is viewed as guiding workers to choose the best paths to reach both their goals as well as the corps goals.

4 different types of leadership behaviors:

1) Achievement oriented - encourages to pursue their highest level of performance
2) Directive Leader - clear guidelines
3) Supportive Leader
4) Participative - consulting employees on important decisions

80
Q

Explain Vroom & Yettons Normative Decision Making Model

A

Identifies the appropriate styles leader should use in decision making
Used 3 Leadership Styles:
1) Autocratic decision Making- decide independently
2) Consultative Decision Making- gather opinions on situation from small group, then decide independently
3)Collaborative (group decision making)- gather insight from a group and then make a group decision

81
Q

Define Transformational Leader

A

changing attitudes & assumptions of employees. Builds commitment- empowerment of followers

82
Q

Define Transactional Leader

A

a leader who gets things done by relying on contingent rewards such as recognition, pay increases & achievements for employees who perform well

83
Q

Explain Leadership Behavior Continuum by Robert Tannenbaum & Warren Schmidt

A

Model describes 7 different leadership styles along a continuum ranging from highly autocratic to highly participative

84
Q

Define Emotional Intelligence

Concept by Daniel Goleman

A

ability to monitor own emotions & the emotions of others. People with high EI are usually very self aware

85
Q

Explain why people can’t make perfectly rational decisions (3)

A

1) Bounded rationality - tend to limit their search for info to the most convenient & inexpensive data
2) Cognitive Limits of Rationality- Decision makers ability to analyze only a few things at a time
3) Satisficing- involves searching until you find the 1st satisfactory solution then you accept it & stop searching

86
Q

Define Escalation of Commitment

A

Once people have made a decision they usually become emotionally involved - this can create a problem if it’s poor decision making

87
Q

Explain the Risky-Shift Phenomenon

A

When people are in groups they make decisions involving risk differently from when they are alone. In the group they are likely to make riskier decisions.

88
Q

Define Groupthink

A

the practice of thinking or making decisions as a group in a way that discourages creativity or individual responsibility

89
Q

Explain the 8 Dynamics that Contribute to Groupthink

A

1) Illusion of Vulnerability- group members ignore obvious dangers, they become overconfident, willing to assume greater risks
2) Rationalization- negative info is discredited in the group disussion
3) Illusion of Morality- ignores ethical consequences of their decisions
4) Shared stereotypes- develop stereotyped views
5) Pressure for conformity- pressure eachother to conform
6) Self censorship- avoid expressing opinions contrary to groups opinion - doesn’t want to “rock the boat”
7) Illusion of unanimity- members assume unanimous support - falsly assumes if no one disagrees then everyone agrees
8) Mind Guards- occurs when individual members protect the group from information that contradicts it’s decision

90
Q

Define Abaline Complex

A

members of an org fail to communicate their true ideas and desires because they think it’s better to be agreeable

Story: A family endured a miserable trip to Abaline & ate a terrible dinner, only to discover when they returned homed that none of them wanted to go even though they expressed interest when the idea was proposed.

91
Q

Define Programmed Decision

A

based on clear criteria, structured problems

EX: deals with frequently occurring situations such as requests for leaves of absence

92
Q

Define Non- programmed decisions

A

lack clear guidelines, unstructured problem

Normally 1-shot decisions- a logical approach to deal with extraordinary, unexpected & unique decisions

93
Q

Define Delphi Technique

A

process used to arrive to a group decision by surveying a panel of experts- Questionnaire is sent out to each expert w/instructions to comment on each topic based on their personal opinions, experience or previous research. They respond to several questions and the responses are aggregated & shared w/the group after each round. Ultimate result is a true consensus of what the group thinks- unbiased

94
Q

Define Nominal Group Technique

A

modified version of Delphi- more time efficient- encourages contribution from everyone & facilitates quick agreement. Team members present their own ideas then they get voted on at the end from 1 to 5. 5 being high priority.

95
Q

Define Ethics

A

Concept of right or wrong

96
Q

Define Role Morality

A

obligations that are associated w/a position or role

EX: a receptionist may be asked to tell callers that someone is out even if they are not

97
Q

Define Inducements-Contribution Balance Theory (Theory of Motivation)

A

basically a person will continue to work for an org if it is worth their while - basically if the pay, benefits, and job satisfaction are greater than the perceived cost of your work provided to the org, you will stay and continue to contribute.

98
Q

Define Inducements

A

Rewards, compensation, etc

99
Q

US Foreign Corruct Practices Act (1977) aka FCPA

A

Federal law that prohibits US citizens & entities from bribing foreign government officials to benefit their own business interests

100
Q

Define Whistleblowing

A

informing people outside the company about corporate misconduct

101
Q

Dodd- Frank Act, False Claims Act & IRS Statute all have this in common

A

Act that give financial rewards to whistleblowers

102
Q

SEC (Securities & Exchange Commission) says that Whistle blowers are given ___ days to be considered for a Whistleblower award.

A

120 days

103
Q

Sarbanes-Oxley Act 2002 (aka SOX)

A

Focus of law is to ensure the accuracy of a company financial reports - applies only to publicly traded companies

104
Q

Explain the importance of an organizational code of ethics

A

Contains goals, norms & beliefs that most meet agree are fair & right. Provides an understanding of what is valuable and important.

105
Q

Define Corporate Social Responsibility

A

Corporations should be involved in programs that contribute to the well-being of it’s stake holders, such as helping the poor, improving the environment, & contributing to charities.

106
Q

Explain Scientific Method - 5 Steps

A

a tried and true problem solving process

STEP 1: Identify the problem - data regarding the problem can be collected
STEP 2:Form a hypothesis- an educated prediction
STEP 3: Test the hypothesis- can confirm or not confirm hypothesis
STEP 4: Analyze the Data- the results to either confirm the hypothesis as true or false
STEP 5: Communicate the results- whatever outcomes of the experiment should be communicated to the org

107
Q

Define Hawthorne Effect

A

most employees tend to work faster when they know their productivity is being measured.

108
Q

Define Descriptive Statistics

A

used to summarize data in a meaningful way so the results can be used to make decisions. Most frequently used statistics to describe a set of numbers are those designed to show the central tendency & degree of dispersion.

109
Q

Define Central Tendency (a descriptive statistic)

A

a tendency for a rater to place most items in the middle of a rating scale. For example, on a 10 point scale, a manager might place most of his employees in the middle (4-7), with a few people getting high(8-10) or low(1-3) rated performances.

The measure of central tendency include: mean, median & mode

110
Q

Define mean, median & mode (central tendency)

A

Mean- the avg
Median- the middle score when #s are arranged from high to low
Mode- the # that appears most frequently

111
Q

Define Degree of Dispersion (a descriptive statistic)

A

a group of numbers indicated by variance, the standard deviation & the range

112
Q

Define Variance, standard deviation, and range (degree of dispersion)

A

Variance- indicates whether a group of numbers are all close to theme or whether they are widely scattered above & below the mean
Standard deviation- the square root of variance
Range- the range of numbers is simple the distance from the lowest number to the highest

113
Q

Define Inferential Statistics

A

used to make inferences about a larger population of people when data have been obtained from only a small sample. Two of the best procedures for making accurate inferences are simple random sampling & stratified random sampling.

114
Q

Define Simple Random Sample (inferential statistic)

A

involves placing all employees in the sample population and drawing the sample at random

115
Q

Define Stratified random Sample (inferential statistic)

A

involves categorizing employees into specified groups according to relevant characteristics, such as job classification or organization level

PHR (3 decks)

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