Shrm Learning System Module 1

Front 1

Sale by a company of an asset that is not performing well, that is not core to the company's business, or that is worth more as a separate entity.

Back 1

Divestiture

Front 2

Systematic tool for gathering, storing, maintaining, retrieving, and revising HR data.

Back 2

Human resource information system (HRIS)

Front 3

Form of budgeting in which the prior budget is the basis for allocation of funds.

Back 3

Incremental budgeting

Front 4

Techniques for communicating information about products to consumers.

Back 4

Promotion

Front 5

Involves data that is gathered firsthand for a specific evaluation.

Back 5

Primary research

Front 6

Measure that indicates how much scores in a set of data are spread out around a mean or average.

Back 6

Standard deviation

Front 7

Research method in which certain factors (variables) are manipulated and the results are examined.

Back 7

Scientific method

Front 8

Based on research that uses open-ended interviewing to explore and understand attitudes, opinions, feelings, and behavior.

Back 8

Qualitative analysis

Front 9

Process of conducting an intensive investigation of a corporation as one of the first steps in a pending merger or acquisition.

Back 9

Due diligence

Front 10

Combined knowledge, skills, and experience of a company's employees.

Back 10

Human capital

Front 11

Organizational structure that defines departments by what services they contribute to the organization's overall mission.
organization is usually more centralized, and its departments are specialized

Back 11

Functional structure

Front 12

Uses data already gathered by others and reported in various sources.

Back 12

Secondary research

Front 13

Process to measure the effectiveness and efficiency of HR programs and positions.

Back 13

HR audit

Front 14

System of moral principles and values that establish appropriate conduct.

Back 14

Ethics

Front 15

Process of planning, pricing, promoting, and distributing goods and services to satisfy organizational objectives.

Back 15

Marketing

Front 16

Refers to the number of individuals who report to a supervisor.

Back 16

Span of control

Front 17

Point below which 50% of scores in a set of data lie.

Back 17

Median

Front 18

Process that surveys and interprets relevant data to identify external opportunities and threats.

Back 18

Environmental scanning

Front 19

What an organization sells to make a profit.

Back 19

Product

Front 20

Work groups that conduct the major business of an organization.

Back 20

Line units

Front 21

Organizational structure that combines departmentalization by division and function to gain the benefits of both.

Back 21

Matrix structure

Front 22

Proposal presented to a legislative body for possible enactment as a law.

Back 22

Bill

Front 23

Legislative measure limited in effect to either the Congress or one of its chambers.

Back 23

Resolution

Front 24

Time allowed for the public to express its views and concerns regarding an action of a regulatory agency.

Back 24

Public comment period

Front 25

Seeks to obtain easily quantifiable data on a limited number of measurement points.

Back 25

Quantitative analysis

Front 26

Principles of conduct within an organization that guide decision making and behavior.

Back 26

Code of ethics

Front 27

Analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program.

Back 27

Break-even analysis

Front 28

Degree to which decision-making authority is given to lower levels in an organization's hierarchy.

Back 28

Decentralization

Front 29

Measurement approach that provides an overall picture of an organization's performance as measured against goals in finance, customers, internal business processes, and learning and growth.

Back 29

Balanced scorecard

Front 30

To an operations department, the act of detailed planning; based upon incoming orders, order history, and forecasts of future demand.

Back 30

Scheduling

Front 31

Portion of a population used to draw conclusions regarding an entire population.

Back 31

Sample

Front 32

Group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions.

Back 32

Population

Front 33

Prohibits American companies from making corrupt payments to foreign officials for the purpose of obtaining or keeping business.

Back 33

Foreign Corrupt Practices Act (FCPA)

Front 34

Research in which the researcher controls and manipulates elements of the research environment to measure the impact of each variable.

Back 34

Experiment

Front 35

Ability of an instrument to measure what it is intended to measure.

Back 35

Validity

Front 36

Vehicle for collecting information on an organization's current strengths, weaknesses, opportunities, and threats.

Back 36

SWOT analysis

Front 37

Amount of owners' or shareholders' portion of a business.

Back 37

Equity

Front 38

Specific point in a distribution of data that has a given percentage of cases below it.

Back 38

Percentile

Front 39

Money an organization owes its vendors and suppliers.

Back 39

Accounts payable

Front 40

Serve a purpose similar to short-term objectives but are completed in one to three years.

Back 40

Mid-term objectives

Front 41

Calculation that measures the economic return on a project or investment.

Back 41

Return on investment (ROI)

Front 42

Process that helps an organization focus on how to succeed in the future by evaluating the organization's current status, where it would like to be, and how to get there.

Back 42

Strategic planning

Front 43

Organization's debts and other financial obligations.

Back 43

Liabilities

Front 44

To an operations department, the ability to yield output.

Back 44

Capacity

Front 45

Series of tasks and activities that has a stated goal and objectives, a schedule with defined start and end dates, and a budget that sets limits on the use of monetary and human resources.

Back 45

Project

Front 46

Organizational structure in which divisions are separated by product, customer or market, or region.

Back 46

Divisional structure

Front 47

Group of people born after 1980.

Back 47

Generation Y

Front 48

Provide the direction that enables an organization to achieve its long-term objectives.

Back 48

Strategies

Front 49

Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals

Back 49

Human resource management (HRM)

Front 50

Processes and activities used to formulate HR objectives, practices, and policies.

Back 50

Strategic management

Front 51

Work groups that assist line units by performing specialized services, such as HR.

Back 51

Staff units

Front 52

Money an organization's customers owe the organization.

Back 52

Accounts receivable

Front 53

Measure that indicates the relationship between two variables.

Back 53

Correlation

Front 54

Ability of an instrument to measure consistently.

Back 54

Reliability

Front 55

Value that occurs most frequently in a set of data.

Back 55

Mode

Front 56

Specifies what the company does, who its customers are, and the priorities it has set in pursuing its work.

Back 56

Mission statement

Front 57

Specific results, accomplished in three to five years, that an organization seeks to achieve in pursuing its mission.

Back 57

Long-term objectives

Front 58

Action of canceling or postponing a decision or bill.

Back 58

Veto

Front 59

Estimate of the total value of goods and services produced in a country in a given year.

Back 59

Gross domestic product (GDP)

Front 60

Expected distribution given a random sampling of people across a large population.

Back 60

Normal distribution

Front 61

Group of people born roughly between the years of 1965 and 1980.

Back 61

Generation X

Front 62

Form of budgeting in which an average cost is applied to comparable expenses and general funding is changed by a specific amount.

Back 62

Formula budgeting

Front 63

Number of members of an organization that have to be present before official business may be conducted.

Back 63

Quorum

Front 64

Measure that refers to the causal effect of one variable upon another.

Back 64

Regression

Front 65

Specific, testable prediction that is derived from a theory and describes a relationship between two variables.

Back 65

Hypothesis

Front 66

To an operations department, an after-the-fact evaluation of a company's ability to meet its own specifications and its customers' needs. three steps are observe, compare, and decide.

Back 66

Control

Front 67

Describe what is important to an organization, dictate employee behavior, and create the organization's culture.

Back 67

Values

Front 68

Involves looking at a set of observations and designing a rule that characterizes or explains a pattern underlying the observations.

Back 68

Inductive reasoning

Front 69

Statement explaining revenues, expenses, and profits over a specified period of time, usually a year or a quarter.

Back 69

Income statement

Front 70

Short-term alliance between independent organizations in a potentially long-term relationship to design, produce, and distribute a product.

Back 70

Virtual organization

Front 71

Business function responsible for selling an organization's product to the marketplace.

Back 71

Sales

Front 72

Measure that indicates the relationship between data items using x and y axes.

Back 72

Scatter diagram

Front 73

Distance between highest and lowest scores in a set of data.

Back 73

Range

Front 74

Rule or order issued by a government agency; often has the force of law.

Back 74

Regulation

Front 75

Ratio that allows management to determine the financial impact particular activities and programs will have on a company's profitability.

Back 75

Cost-benefit analysis

Front 76

Portion of silent and baby boom generations that is simultaneously caring for their own children and one or more elderly family members.

Back 76

Sandwich generation

Front 77

Form of budgeting that requires that expenditures be justified for each new period and in which budgets start at zero.

Back 77

Zero-based budgeting

Front 78

Project management tool used to schedule, organize, and coordinate tasks within a project.

Back 78

Program evaluation review technique (PERT) chart

Front 79

For an operations department, provide the yardstick by which the amount and quality of output are measured.

Back 79

Standards

Front 80

Vivid, guiding image of an organization's desired future.

Back 80

Vision statement

Front 81

Relocation of processes or functions from a "home" country to another country.

Back 81

Offshoring

Front 82

Modification of the Constitution or a law; may be either formal (written) or informal (unwritten).

Back 82

Amendment

Front 83

4 phases of a strategic plan

Back 83

1) formulation
2) development
3) implementation
4) evaluation

Front 84

Systematic process of gathering and analyzing all relevant data about external opportunities.

Back 84

Environmental scanning

Front 85

3 commonly used budgeting methods

Back 85

1) incremental
2) formula
3) Zero based

Front 86

Statement of a firm's financial position at a particular time.

Back 86

Balance sheet

Front 87

Degree to which decision-making authority is restricted to higher levels of management in an organization.

Back 87

Centralization

Front 88

Global network that delivers products and services from raw materials to end customers through an engineered flow of information, physical distribution, and cash.

Back 88

Supply chain

Front 89

To an operations department, an organization's major asset after physical buildings and equipment.

Back 89

Inventory

Front 90

Evolution of a company. 4 phases.

Back 90

1) introduction
2) Growth
3) maturity
4) decline

Front 91

Low cost producer with low cost advantage. Find & exploit all sources of cost advantage. Depend on volume to provide profit.

Back 91

low-producer (strategy)

Front 92

Set products and services apart for competitors. Consumers will pay a premium price for product.

Back 92

Differentiation Strategy

Front 93

Focus on particular buyer group, or geographical market. built around serving a particular target well. Small segment, more effective.

Back 93

Focus Strategy

Front 94

Key concepts in research & analysis of performance audits. (5)

Back 94

1) inductive & deductive reasoning
2) Primary & secondary research
3) experimental research
4) quantitative & qualitative analysis
5) Reliability & valitdity

Front 95

5 steps in the scientific method

Back 95

1) Problem analysis
2) Hypothesis formulation
3) Experimental design
4) Data collection
5) Data analysis