Vocabulary/ Key terms - By Ian McGonigal
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| Human resource managment | The process of managing human talent to acheive an organization's objectives
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| HRM | Human resource managment
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| Globalization | The trend towards opening up foreign markets to international trade and investments.
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| Corporate social responsibility | The responsibility of the firm to act in the best interests of the people and communities affected by its activities.
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| Knowledge workers | Workers whose responsibility extends beyond the physical execution of work to include planning, decision making, and problem solving.
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| Human resource information systems | A computerized system that provides current and accurate data for purposes of control and decision making.
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| HRIS | Human resource managment systems
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| Reactive change | Change that occurs after external forces have already affected performance.
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| Proactive change | Change initiated to take advantage of targeted opportunities.
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| Human capital | The knowledge, skills, and capabilities of individuals that have economic value to an organization.
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| Total quality management | A set of principles and practices whose core ideas include understanding customer needs, doing things right the first time, and striving for continuous improvement.
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| TQM | Total quality mangement
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| Six sigma | A process used to translate customer needs into a set of optimal tasks that are performed in concert with one another.
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| reengineering | Fundamental rethinking and radical redesign of business processes to acheive dramatic improvements to cost, quality, service, and speed.
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| Downsizing | Planned elimination of jobs.
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| Outsourcing | Contracting outside the organization to have work done that formaly was done by internal employees.
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| Offshoring | The business practice of sending jobs to other countries.
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| Employee leasing | The process of dismissing employees who are then hired by a leasing company (which handles all HR-related activities) and contracting with that company to lease back the employees
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| Managing diversity | Being aware of characteristics common to employees, while also managing employees as individuals.
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| NAFTA | North American Free Trade Agreement
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| APEC | Asia-Pacific Economic Cooperation
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| WTO | World Trade Organization
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| AMA | America managment Association
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| Ways to contain costs | Downsizing, offshoring, Employee leasing, and productivity enhancements
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| Cultural changes | Employee rights, conserns for privacy, changing attitude towards work, balancing work and family.
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| Responsibilities of the human resources manager | Advise and counsel, service, policy formulation and implimentation, and employee advocacy.
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| Competencies of the human resources manager | Business mastery, HR mastery, Change mastery, Personal credibility.
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