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PHR Module 1 2009

Vocab terms from SHRM PHR Module 1 2009

QuestionAnswer
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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