Core Knowledge For Hr (Ch 2) - Part 2 Of 2

Front 1

motivation/hygiene theory

Back 1

In the 1950s, Fredrick Herzberg theorized that two (actors 4.anhe used to motivate people: challenging work (motivation) and the desire to avoid unpleasant experiences (hygiene); this is also known as the two-factor theory.

Front 2

moving average

Back 2

Also called a rolling average, the moving average calculates an average for a specific xxx, for example, the average number of new hires each month for the past 12 months. As the number for the most recent month is added, the oldest number is dropped.

Front 3

multiple linear regression

Back 3

Multiple linear regression is a quantitative analysis tool used to measure the relationship between several variables to forecast another.

Front 4

Myers-Briggs Type Indicator

Back 4

MBTI identifies personality types with four-letter codes that describe individual personalities.

Front 5

needs analysis

Back 5

Also called needs assessment, needs analysis is used to evaluate program proposals to select those that will best use organization resources. Needs analysis can be used in any area of business; in HR it is often employed in the areas of training and development, staffing projections, and benefit planning.

Front 6

nominal group technique

Back 6

The nominal group technique is a structured meeting Format designed to elicit participation from all members of a group in order to arrive at the best possible solution to a problem. Participants begin by individually writing down their ideas about the issue. A facilitator then has each participant present one idea and records them for later discussion. When all the ideas have been presented, the group prioritizes and builds consensus until a resolution is agreed upon.

Front 7

organizational structures

Back 7

Organization structures coordinate activities between business functions and facilitate the flow of communication. The most common structures are functional, product-based, geographic, divisional, and matrix.

Front 8

pedagogy

Back 8

Pedagogy, the study of how children learn, is education in which a teacher decides what will be taught and how it will be delivered.

Front 9

PEST analysis

Back 9

PEST is an acronym for political, economic, social, and technological factors.

Front 10

Porter’s 5 Forces

Back 10

According to Michael Porter, the five forces found in all businesses are new competitors, suppliers, buyers, alternative products available to consumers, and the type and level of industry competition.

Front 11

primary research

Back 11

primary research Primary research gathers data by using original studies and experiments.

Front 12

product-based organization structure

Back 12

Also known as a customer-oriented structure, product-based structures are suitable when product lines are well defined and dearly separate. Each product line reports directly to the CEO and can be centralized or decentralized production.

Front 13

project management (PM)

Back 13

Project management is the process of initiating, planning, executing, controlling, and closing an assignment that is temporary in nature

Front 14

qualitative analysis

Back 14

Qualitative analysis ¡s based on subjective judgments

Front 15

quantitative analysis

Back 15

Quantitative analysis is based on mathematical models that measure historical data. Some of the models used are correlation measures, regression analysis, and measures of central tendency.

Front 16

request for proposal (RFP)

Back 16

An RFP is the process used to obtain plans and costs for a specific service or project needed by an organization. A well-constructed RFP serves as the basis on which the product or service is obtained, a means for controlling expenses, a guide to ensure that the delivery meets the organization’s requirements, and a method of evaluation at the end of the project.

Front 17

return on investment (ROI)

Back 17

ROI is a commonly used metric calculated by dividing the benefits realized as a result of a program by the total related direct and indirect costs.

Front 18

risk acceptance

Back 18

low-priority risks may be accepted by management if there is a low probability that the risk will not occur and/or low consequences that can be easily managed if it does occur.

Front 19

risk avoidance

Back 19

Employers avoid risk by taking steps to prevent it, such as hiring security guards to be on site after business hours.

Front 20

risk mitigation

Back 20

Employers mitigate risks by taking preventive steps such as performing audits or safety inspections or reviewing policies for legal compliance.

Front 21

risk transfer

Back 21

One option for managing risk is to transfer it to another entity, usually an insurance company.

Front 22

scientific method

Back 22

A method of primary research, the scientific method has five steps that can be used to analyze and solve HR problems: identify the problem, create a hypothesis, decide a method for testing, collect data, and draw conclusions.

Front 23

seamless organization

Back 23

The hallmarks of a seamless organization are horizontal networks connecting people and function is to enhance creativity and communication.

Front 24

secondary research

Back 24

Secondary research is based on information that has been collected or reported by others1 such as books or articles by primary researchers, industry standards, or analysis of trends within an organization.

Front 25

simple linear regression

Back 25

Simple linear regression is a quantitative analysis tool used to measure the relationship between one variable (such as staffing) and another (such as production output) used to project future needs.

Front 26

statement of cash flows

Back 26

A statement of cash flows shows how money flows through an organization. This statement shows how much cash was a result of sales, how much was spent to produce the products that were sold, how much was borrowed or came in as a result of new capital investments, and how much was invested in assets.

Front 27

subject matter experts (SMEs)

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SMEs are professionals who possess a level of expertise gained through experience and education that qualifies them to ensure the maintenance and documentation of a particular topic or discipline.

Front 28

suspension

Back 28

Suspension is a step in the disciplinary press in which an employee is required to be absent from work (with or without pay) for varying periods of time.

Front 29

SWOT analysis

Back 29

A SWOT analysis examines the strengths, weaknesses, opportunities, and threats facing an organization. Strengths and weaknesses are internal factors that can be controlled by the organization; opportunities and threats are external factors that may impact an organization’s plans.

Front 30

termination

Back 30

Termination occurs when an employee leaves an organization, and it can be voluntary or involuntary.

Front 31

Theory X

Back 31

Theory X managers believe employees need constant direction to complete their work and are interested in job security above all else.

Front 32

Theory Y

Back 32

Theory Y managers believe that, given the opportunity, employees will seek out challenging work and additional responsibility if the work is satisfying.

Front 33

third-party contract

Back 33

In a third-party contract, some part of the transaction is provided by an entity other than those who have signed the contract.

Front 34

time series forecasts

Back 34

A time series forecast is a quantitative method of analysis that can be used to measure historic staffing levels and provide a basis from which expected future needs can be calculated

Front 35

tort

Back 35

A tort is a legal term used to describe an action that injures someone. Torts are not related to laws or contracts but can result in legal action: the party who has been injured can sue the wrongdoer and collect damages for the injury that has been done.

Front 36

transactional leadership

Back 36

Transactional leadership focuses on getting the job done by offering rewards in exchange for the accomplishment of an organizational goal.

Front 37

transformational leadership

Back 37

Transformational leadership focuses on building work group relationships to achieve organizational goals.

Front 38

trend analysis

Back 38

Trend analysis is a quantitative analysis method that compares the changes in a single variable over time and, over a period of years, generally moves upward or downward

Front 39

verbal warning

Back 39

A verbal warning is the first step in a formal disciplinary process. The direct supervisor verbally informs an employee of the performance issue. Verbal warnings must by documented in writing.

Front 40

weighted average

Back 40

In quantitative analysis, a weighted average is used to compensate for data that may be out of date; the more current data is increased because it better reflects the current situation.

Front 41

weighted moving average

Back 41

A weighted moving average is calculated for a specific period by assigning more weight to current data. See also moving average and weighted average.

Front 42

zero-based budgeting

Back 42

A zero-based budget process analyzes costs from the ground up without relying on previous budgets.