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PHR Module 1 2009
Vocab terms from SHRM PHR Module 1 2009
| Question | Answer |
|---|---|
| Experiment | Research in which teh researcher controls and manipulates elements of the research environment to measure the impact of each variable |
| Due Diligence | Process of conducting an intensive investigation of a corporation as one of the first steps in a pending merger or acquisition |
| Veto | Action of canceling or postponing a decision or bill |
| Environmental scanning | Process that surveys and interprets relevant data to identify external opportunities and threats |
| Foreign Corrupt Practices Act (FCPA) | Prohibits American companies from making corrupt payments to foreign officilas for the purpose of obtaining or keeping business |
| Income statement | statement explaining revenues, expenses, and profits over a specified period of time, usually a year or a quarter |
| Control | to an operations department, an after-the-fact evaluation of a company's ability to meet its own specifications and its customers' needs |
| Gantt chart | project planning tool that graphically displays activities of a project in sequential order and plots them against time |
| Marketing | process of planning, pricing, promoting and distributing goods and services to satisfy organizational objectives |
| Population | group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions |
| Action plans | detailed steps a unit, department, or team will take in order to achieve short term objectives |
| Line units | work groups that conduct the major business of an organization |
| Human resource management (HRM) | Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals |
| Cost-benefit analysis | ratio that allows management to determine the financial impact particular activities and programs will have on a company's profitability |
| Standards | for an operations department, provide the yardstick by which the amount and quality of output are measured |
| Staff units | work groups that assist line units by performing specialized services, such as HR |
| Generation Y | group of people born after 1980 |
| Formula budgeting | form of budgeting in which an average cost is applied to comparable expenses and general fudnign is changed by a specific amount |
| Functional structure | organizational structure that defines departments by what services they contribute to the organization's overall mission |
| Generation X | Group of peple born roughly between the years of 1965 and 1980 |
| Project | 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 |
| Gross Domestic Product (GDP) | estimate of the total value of goods and services produced in a country in a given year |
| Scatter diagram | measure that indicates the relationship between data items using x and y axes |
| Correlation | measure that indicates the relationship between two variables |
| Mean | average score or value in a set of data |
| Inventory | to an operations department, an organization's major asset after physical buildings and equipment |
| Mode | value that occurs most frequently in a set of data |
| Accounts receivable | money an organization's customers owe the organization |
| Ethics | system of moral principles and values taht establish appropriate conduct |
| Resolution | legislative measure limited in effect to either the Congress or one of its chambers |
| Request for proposal (RFP) | written request asking contractors to propose solutions and prices taht fit customer's requirements |
| Code of ethics | principles of conduct within an organization that guide decision making and behavior |
| Promotion | techniques for communicating information about products to consumers |
| Standard deviation | measure taht indicates how much scores in a set of data are spread out around a mean or average |
| Matrix structure | organizational structure that combines departmentalization by division and fuction to gain the benefits of both |
| Primary research | involves data that is gathered firsthand for a specific evaluation |
| Accounts payable | money an organization owes its vendors and suppliers |
| Sample | portion of a population used to draw conclusions regarding an entire population |
| Equity | amount of owners' or shareholders' portion of a business |
| Product | what an organization sells to make a profit |
| Values | describe what is important to an organization, dictate employee behavior, and create the organization's culture |
| Divestiture | 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 |
| Strategic planning | 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. |
| Quorum | number of members of an organization that have to be present before official business may be conducted |
| Span of control | refers to the number of individuals who report to a supervisor |
| Strategic management | processes and activities used to formulate HR objectives, practices, and policies |
| Amendment | modification of the constitution or a law; may be either formal (written) or informal (unwritten) |
| Balance scorecard | 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 |
| Virtual organization | short-term alliance between independent organizations in a potentially long-term relationship to design, produce, and distribute a product |
| Sandwich generation | portion of silent and baby boom gnereations taht is simultaneously caring for their own children and one or more elderly family members |
| Scientific method | research method in which certain factors (variables) are manipulated and the results are examined |
| Percentile | specific point in a distribution of data that has a given percentage of cases below it |
| Balance sheet | statement of a firm's financial position at a particular time |
| Inductive reasoning | involves looking at a set of observations and designing a rule that characterizes or explains a pattern underlying the observations |
| Zero-based budgeting | form of budgeting that requires that expenditures be justified for each new period and in which budgets start at zero |
| Supply chain | global network that delivers products and services from raw materials to end customers through an engineered flow of information, physical distribution, and cash |
| Regulation | rule or order issued by a government agency; often has the force of law |
| Mission statement | specifies what the company does, who its customers are, and the priorities it has set in pursuing its work |
| Strategies | provide the direction that enables an organization to achieve its long-term objectives |
| SWOT analysis | vehicle for collecting information on an organization's current strengths, weaknesses, opportunities, and threats |
| Reliability | ability of an instrument to measure consistently |
| Long-term objectives | specific results, accomplished in three to five years, that an organization seeks to achieve in pursuing its mission |
| Range | distance between highest and lowest scores in a set of data |
| Decentralization | degree to which decision-making authority is given to lower levels in an organization's hierarchy |
| Capacity | to an operations department, the ability to yield output |
| Offshoring | relocation of processes or functions from a "home" country to another country |
| Return on investment (ROI) | calculation taht measures the economic return on a project or investment |
| Centralization | degree to which decision-making authority is restricted to higher levels of management in an organization |
| HR audit | process to measure the effectiveness and efficiency of HR programs and positions |
| Gross profit margin | measures the difference between what it costs to produce a product and the selling price |
| Deductive reasoning | involves applying specific premises to a given situation to develop certain predictions about or understanding of the situation |
| Incremental budgeting | form of budgeting in which the prior budget is the basis for allocation of funds |
| Program evaluation review technique (PERT) chart | project management tool used to schedule, organize, and coordinate tasks within a project |
| Median | point below which 50% of scores in a set of data lie |
| Short-term objectives | milestones that must be achieved, usually within six months to one year, in order to reach long-term objectives |
| Qualitative analysis | based on research that uses open-ended interviewing to explore and understand attitudes, opinions, feelings, and behavior |
| Human resource information system (HRIS) | systematic tool for gathering, storing, maintaining, retrieving, and revising HR data |
| Assets | financial, physical, and sometimes intagible properties an organization owns |
| Bill | proposal presented to a legislative body for possible enactment as a law |
| Break-even analysis | analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program |
| Public comment period | time allowed for the public to express its views and concerns regarding an action of a regulatory agency |
| Human capital | combined knowledge, skills, and experience of a company's employees |
| Quantitative analysis | seeks to obtain easily quantifiable data on a limited number of meaurement points |
| Divisional structure | organizational structure in which divisions are separated by product, customer or market, or region |
| Vision statement | vivid, guiding image of an organization's desired future |
| Validity | ability of an instrument to measure what it is intended to measure |
| Hypothesis | specific, testable prediction that is derived from a theory and describes a relationship between two variables |
| Sales | business function responsible for selling an organization's product to the marketplace |
| Scheduling | to an operations department, the act of detailed planning; based upon incoming orders, order history, and forecasts of future demand |
| Normal distribution | expected distribution given a random sampling of people across a large population |
| Liabilities | organization's debts and other financial obligations |
| Regression | measure that refers to the causal effect of one variable upon another |
| Mid-term objectives | serve a purpose similar to short-term objectives but are completed in one to three years |
Created by:
julie.pluss
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