Workplace Flashcards
(113 cards)
Assignees
Employees who work outside their home countries.
Global integration (GI)
Globalization strategy that emphasizes consistency of
approach, standardization of processes, and a
common corporate culture across global operations.
Globalization
Status of growing interconnectedness and
interdependency among countries, people, markets,
and organizations worldwide.
Identity alignment
Extent to which diversity is embraced in management
of people, products/services, and branding.
Local responsiveness (LR)
Globalization strategy that emphasizes adapting to the
needs of local markets and allows subsidiaries to
develop unique products, structures, and systems.
Multinational enterprises (MNEs)
Organizations that own or control production or service
facilities in one or more countries other than the home
country.
Near-shoring
Practice of contracting a part of business processes or
production to an external company in a country that is
relatively close (for example, within the same own
region).
Offshoring
Method by which an organization relocates its
processes or production to an international location
through subsidiaries or third-party affiliates.
Onshoring
Relocation of business processes or production to a
lower-cost location inside the same country as the
business.
Outsourcing
Process by which an organization contracts with thirdparty
vendors to provide selected services/activities
instead of hiring new employees.
Process alignment
Extent to which underlying operations such as IT,
finance, or HR integrate across locations.
Redeployment
Process by which an organization moves an employee
out of an international assignment; can involve moving
back to the home country, moving to a different global
location, or moving to a new location or position in the
current host country.
Repatriation
Process by which employees returning from
international assignments reintegrate into their home
country’s culture, conditions, and employment.
Annualized loss expectancy (ALE)
Expected monetary loss for an asset due to a risk over
a one-year period; calculated by multiplying single loss
expectancy by annualized rate of occurrence.
Conflict of interest
Situation in which a person or organization may benefit
from undue influence due to involvement in outside
activities, relationships, or investments that conflict with
or have an impact on the employment relationship or
its outcomes.
Contingency plan
Protocol that an organization implements when an
identified risk event occurs.
Duty of care
Principle that organizations should take all steps that
are reasonably possible to ensure the health, safety,
and well-being of employees and protect them from
foreseeable injury.
Hazard
Potential for harm, often associated with a condition or
activity that, if left uncontrolled, can result in injury or
illness.
Key risk indicators (KRIs)
Metrics that provide an early signal of increasing risk
exposures for an enterprise.
Moral hazard
Situation in which one party engages in risky behavior
knowing that it is protected against the risk because
another party will incur any resulting loss.
Principal-agent problem
Situation in which an agent (for example, an employee)
makes decisions for a principal (for example, an
employer) potentially on the basis of personal
incentives that may not be aligned with the principal’s
incentives.
Residual risk
Amount of uncertainty that remains after all risk
management efforts have been exhausted.
Risk
Uncertainty that has an effect on an objective, where
outcomes may include opportunities, losses, and
threats.
Risk appetite
A high-level characterization of the amount of
uncertainty (acceptable risk) an organization is willing
to pursue or to accept to attain its risk management
goals.