Shared Flashcard Set

Details

AP ADMS 2600 (YorkU)
Final Exam Review
73
Business
Undergraduate 2
03/24/2016

Additional Business Flashcards

 


 

Cards

Term
Human Resource Management (HRM)
Definition
The process of managing human talent to achieve organization goals
Term
Six Sigma
Definition
Set of principles and practices whose core ideas focus on understanding customer needs, doing things right the first time and having continuous improvement. Involves Reengineering, downsizing, outsourcing and change management
Term
Steps to making HRP and strategy (6)
Definition

1) Mission Vision and Values

2) Environment analysis (Environmental scanning and Competitive environment)

3) Internal Analysis (Three Cs)

4) Formulate a strategy (Corporate/Business and SWOT)

5) Implement strategy

6) Evaluate (Measure fits and BSC)

Term
Mission, Vision and Values
Definition

Mission - Purpose of org. and its scope of operations

Strat. Vision - Where the company is going and what it'll be in the future (long term direction and its strategy)

Core values - The beliefs and principles a company uses for decisions

Term
Environmental Scanning External Forces (6)
Definition

1) Economic factors

2) Industry/competitive trends

3) Tech changes

4) Gov. and legislative issues (laws)

5) Social concerns

6) Demographic and labour market trends

Term
Internal Analysis focuses on? (3)
Definition
Capabilities, Composition and Culture
Term
What is in a competitive environment? (5)
Definition

New entrants,

suppliers,

rival firms,

substitutes,

customers

Term
How to have a sustained competitive advantage with capabilities (4)
Definition
VRIO: Valuable resources, rare resources, difficult to imitate resources, organized resources
Term
Cultural Audit
Definition
Compositiong of HRP: Assesses the culture and quality of work life through examining the values, assumptions, beliefs and expectations of workforce (VABEs)
Term
Employment Equity
Definition
The employment of individuals in a fair and nonbiased manner
Term
Canadian Charter of Rights and Freedom fundamental rights (6)
Definition

1) Fundamental freedom (speech, association, religion)

2) Democratic rights (voting)

3) Mobility rights (b/w provinces)

4) Legal rights (standard procedures in criminal proceed)

5) Equality rights (no discrimination)

6) Language rights (everyone can use english/french)

Term
Pay Equity vs. Pay Equality
Definition

Pay equity is about a fair pay for an entire occupation which are different from other occupations (ex// Nurses) Backed up by federal laws

Pay equality is about paying women the same as men who did the same job (ex// Female electrician gets paid the same as a male electrician)

Backed up by all laws

Term
Employment Equity Act Obligations (8)
Definition

1) Provide survey asking if anyone is in a designated grp.

2) Identify jobs where % of designated grps falls below their availability

3)Communicate info on employment equity to employees

4) Identify all possible barriers for designated grps

5)Develop a plan for promoting equitable workplace

6) Reasonable effort to emplement the plan

7) Monitor, review and revise plan time to time

8) Prepare annual report on employement equity data

Term
The Canadian Human Rights Act (CHRA)
Definition
Deals with anyone who thinks they have been discriminated against.
Term
Bona Fide Occupational Qualification (BFOQ)
Definition
A justifiable reason for discrimination based on business reasons of safety of effectiveness
Term
Ways to gather job analysis (4)
Definition
Interviews, Questionnaires, Observation, Diaries
Term
Approaches to job analysis (4)
Definition

1) Position analysis questionnaire (PAQ) - Questionnaire that covers 194 different work-oriented tasks. Uses a five-point scale and seeks to determine the degree to which the tasks are involved in performing the job.

2) Critical incident method - A method in which critical job tasks are identified for job success.

3) Task inventory analysis - An organization specific list of tasks and their descriptions developed by employees and managers.

4) Competency-based analysis - Developed for a dynamic environment, build a profile that looks at responsibilities, activities and competencies through interviews, etc.

Term
Sources of Recruitment Internally (4)
Definition
Internal job postings, Performance appraisals (9 box grid showing performance to potential performance), Skill inventories/Replacement charts, Human Resources Information System (HRIS)
Term
Sources of Recruitment Externally (12)
Definition

Advertisements,

Walk-ins and unsolicited applications,

Internet (good for getting passive job seekers - ppl who aren't looking but can be persuaded),

Employee referrals (includes nepotism - preference for recruiting a relative),

Job fairs,

Rerecruiting (Recruit old employees),

Executive search firms,

Educational institutions (internships and university),

Professional Associations,

Labour unions,

Public/private employment agencies,

Employee leasing

Term
Recruiting Metrics (4)
Definition

1) Quality of fill = (Avg job perf. + % of hires w/ productivity in time frame + % of hires after 1 yr)/N

 

2) Time to fill (Avg. time it took to select employee)

 

3) Yield Ratios (% of applicants that make it to selection)

 

4) Cost of Recruitment = (Advertising costs + Agency fees + Referral bonuses + No cost hires/Total hires)

Term
Types of fit (2)
Definition

1) Person-job fit - in order for it to work there needs to be a dual fit, job reqs. = individual qualifications and job rewards = individual motivation

2) Person-organization fit - do characteristics fit? org. culture, centralized/decentralized, stable/changing

Term
Real Job Preview (RJP) Benefits (3)
Definition

1) Self-selection (provides better fit)

2) Vaccination (know what the negatives are)

3) Increased commitment (know what to expect)

Term
Types of tests (11)
Definition

1) Job knowledge tests (shows level of understanding)

2) Work sample tests (do actual job tasks)

3) Assessment centre tests (do simulation job tasks)

4) Cognitive ability tests (Measures aptitude)

5) Biodata test (test on past behaviours)

6) Personality and interest inventories (based on five factors - sociable, agreeable, conscientious/reliable, calm/independent, open to experience

7) Polygraph tests (lie detector)

8) Honesty/integrity tests (Promise no theft, etc.)

9) Physical ability tests (measure strength)

10) Medical exam (Health and fitness are appropriate)

11) Drug tests (only for safety-sensitive jobs, no preemployment or random drug tests)

Term
Types of employment interviews (6)
Definition

1) The nondirective interview - Applicant is allowed the max amount of freedom in determining the discussion

2) The structured interview - Set of standardized questions with established set of answers

3) The situational interview - Applicant is given hypothetical incidents and asked what they would do

4) Behavioural description interview (BDI) - Applicant is asked what he or she did in a actual work situations

5)Panel interview - Board of interviewers observe a single candidate

6) Sequential interview - Interviewed by multiple ppl one right after another

Term
Strategic approach to training phases (4)
Definition

1) Needs assessment (Conducted by chief learning officer)

2) Program design

3) Implementation

4) Evaluation

Term
Evaluating the training methods (4)
Definition

1) Reaction - assess the trainees reaction and ask questions

2) Learning - check to see if the trainees learning anything, test them and compare to employees who did not receive training

3) Behaviour - Transfer of training, did they apply the principles of training to the job?

4) Results or Return on Investment (ROI) - Results/Training costs, what was the benefit of the cost?

Term
How to maximize transfer of training (4)
Definition

1) Feature identical elements to job

2) Focus on common general principles

3) Establish a climate for transfer

4) Give employees transfer strategies

Term
Purposes of PA (2)
Definition

1) Administrative purpose

2) Development purpose

Term
Considerations for Designing a PA (4)
Definition

1) Strategic relevance

2) Criterion deficiency - not detailing all responsibilities

3) Criterion contamination - performance affected by factors that cannot be controlled

4) Reliability

Term
Types of Appraisals (6)
Definition

1) Manager/Supervisor Appraisal

2) Self-Appraisal

3) Subordinate Appraisal

4) Peer Appraisal

5) Team Appraisal

6) Customer Appraisal

Term
Raters Errors (7)
Definition

1) Central tendency (everyone is average)

2) Leniency/Strictness

3) Recency (first or last is memorable)

4) Contrast (this employees looks better compared to...)

5) Similar to me

6) Halo error (one good thing = many goods things)

7) Matthew effect (based on past performance)

Term
Reducing Raters Errors Methods (3)
Definition

1) Frame of reference (FOR) training - raters do simulations and are evaluated on their rating abilities

2) Supervisors keep performance diaries about workers

3) Justify rating systems to make them credible

Term
Common Strategic Compensation Goals (7)
Definition

1) Reward past performance

2) Remain competitive in labour markets

3) Maintain salary equity b/w employees

4) Mesh employees' future performance with goals

5) Control the compensation budget

6) Attract new employees

7) Reduce unnecessary turnover

Term
Expectancy Theory Definition and Conditions (3)
Definition

The theory predicts that a person's motivation depends on rewards and chances of obtaining rewards.

1) High value

2) Guaranteed rewards

3) Attainable (not impossible)

Term
Internal Factors for Wage Rates (4)
Definition

1) Compensation strategy (Internal wage relations, external competition, reward performances, overtime payments & payment periods)

2) Worth of a job

3) Employee's relative worth

4) Employee's ability to pay

Term
External Factors Influencing Wage Rates (4)
Definition

1) Labour market conditions

2) Area wage rates

3) Cost of living (use CPI, escalator clauses = quarterly cost of living adjustments in wages)

4) Collective bargaining (Increase real wages = % wages increase - % CPI increase)

Term
Job Evaluation Systems (5)
Definition

1) Job ranking system (jobs on relative worth, not precise measures)

2) Job classification system (jobs are grouped and classified based on predetermined grades)

3) Point system (relative value of a job based on total points, total pts are based off of point manual handbook)

4) Work valuation (measure job's worth based on value to the company)

5) Job evaluation for mgmt. (Hay profile method - 3 factors, knowledge, mental activity and accountability)

Term
Types of Pay Systems (4)
Definition

1) Skill-based

2) Competency-based (skills/knowledge)

3) Variable pay

4) Dispersed pay

Term
Types of Wages/Salary Grading Systems (5)
Definition

1) Wages and Salary Surveys (A survey for wages paid to employees of other employers in relevant labour mkt.)

2) Wage curve (Scattergram curve representing relative worth of jobs to wage rate)

3) Pay grades (Groups of jobs paid the same)

4) Rate ranges (Steps like stairs, can move from one step to another or receive pay min-max on current step)

5) Broadbanding (Uses quartiles, combo of salary grade methods)

Term
Individual Incentive Plans (7)
Definition

1) Straight piecework - Certain rate for each unit produced

2) Differential piece rate - compensation for any employee who produces above standard amount receives higher rate

3) Standard hour plan - sets rates based on completion of job in a predetermined standard time

4) Bonuses - supplments base wage

5) Merit pay - increase in base wage

6) Lump-sum merit pay - pay not added to base wage

7) Incentives awards and recognition

Term
Enterprise Incentive Plans (3)
Definition

1) Profit sharing plans - Deferred sums based on organizations profits, not great plan because many factors can affect profit that employees can't change

2) Employee stock option plans

3) Employee Stock Ownership Plans (ESOPS) - Acquire firm stocks

Term
Team Incentive Plans (2)
Definition

1) Team compensation (based on pay-performance, rewarded if you meet or exceed standards)

2) Gainsharing Incentives Plans (Based on increases in productivity, either greater output or less input)

Term
Benefits of Health and Safety (3)
Definition

1) Reduces injuries and death

2) Reduces absenteeism

3) Reduces medical expenses and disability compensation

Term
Occupational Illness vs Occupational Injury
Definition

An illness is any abnormal condition or disorder (not resulting from injuries) caused by factors associated with employment.

 

An injury is any cut, fracture, sprain or amputation resulted from an accident in the work environment

Term
Duties of Employers (6)
Definition

1) Provide a hazard free workplace

2) Comply with statutes and regulations

3) Inform employees about Occupational Health and Safety (OH&S) regulations

4) Keep records and summaries

5) Ensure employees and supervisors are familiar with hazards

6) Report any accidents that cause injuries or death

Term
Duties of Workers (4)
Definition

1) Comply with all applicable acts and legislation

2) Report hazardous conditions and defective equipment

3) Follow all employer H&S rules, including the use of protective equipment

4) The right to refuse unsafe work

Term
Duties of Joint Health and Safety Committes (5)
Definition

*They are used when there are <20 employees

1) Provide a forum where mgmt. and labour can work together

2) Have one manager and one worker certified in safety

3) Involved in inspections, work refusals

4) Investigate accidents

5) Respond to workers concerns

Term
Forms of Workplace Violence (5)
Definition

1) Threatings gestures and behaviour

2) Verbal/written threats

3) Harassment (embarasses, humiliates)

4) Verbal abuse (swearing, condescending)

5) Physical attacks (hitting, shoving)

Term
Measures to Prevent Workplace Violence (3)
Definition

1) Workplace design (surveillance)

2) Administrative practices (keep track of cash)

3) Work practices (check up on employee's schedule)

Term
How Workplace Violence Arises (7)
Definition

1) Interacting with public

2) Decisions that influence lives (terminating employee, assign a failing grade, denying requests from customers)

3) Supervising/disciplining others

4) Working nights/alone

5) Handling cash or valuables

6) Caring for emotional/physical needs, going to clients homes

7) Dealing with people under alcohol/drugs

Term
How To Deal With Troubled Employees (5)
Definition

1) Monitor

2) Advise

3) Make reasonable accomadations

4) Disciplinary action

5) Maintain contact with HR personnel for guidance

Term
Hindrance vs Challenge Stressors Definitons
Definition

Hindrance stressors are undesirable constraints that hinder a person's ability to achieve goals (ex// bullying, job insecurity, role ambiguity)

Challenge stressors relate to job demands which are challenges to overcome (ex// work load, level of responsibility) - This stress may give positive outcomes (ex// achievement, satisfaction, performance)

Term
Cultural Environment of International Business Factors (5)
Definition

1) Education/human capital (primary/professional)

2) Social structure (family, nationalism)

3) Values/ideologies (work ethic, individualism)

4) Religious beliefs (totems, rituals)

5) Communication (language, media)

Term
Types of Organizations (4)
Definition

1) International corporation - domestic firms trying to move into overseas markets

2) Multinational corporation (MNC) - Firm with independant business units in multiple countries (good local responsiveness)

3) Global corporation -integrated worldwide operations through through a centralized home office (very efficient)

4) Transnational corporation - balance local responsiveness and global scale via network of specialized operating units (efficient and responsive)

Term
Methods of Staffing Internationally (3)
Definition

1) Send expatriates (aka. home-country nationals)

2) Hire host-country nationals (natives from host country)

3) Hire third-country nationals (natives from different country, not host or home)

Term
Methods of Recruiting Internationally (4)
Definition

1) Work permit or visa

2) Guest workers

3) Apprenticeships

4) Transnational teams

Term
Causes of Expatriate Assignment Failure (8)
Definition

1) Family adjustment

2) Work adjustment

3) Lifestyle issues

4) Other oppourtunities arise

5) Business reasons

6) Poor performance

7) Bad selection

8) Repatriation issues (Hard to go back home when you get used to a new country)

Term
Compensation Program Steps for Expatriate Managers (8)
Definition

1) Provice incentive to leave CAN

2) Provide same standard of living

3) Provide security

4) Provide health care

5) Help with tax forms in foreign country

6) Provide for employee's education for children

7) Allow relationships with family/friends to be maintained

8) Facilitate repatriation

 

Term
Compensation Pay Systems for Expatriates (2)
Definition

1) Home-based pay

2) Balance-sheet approach

Term
Balance-Sheet Approach Steps (4)
Definition

1) Calculate base pay

2) Figure cost-of-living adjustment (COLA)

3) Add incentive premiums

4) Add assistance programs

Term
Types of dismissals (4)
Definition

1) Just cause (fair negative reason)

2) Without cause (bad economy, restructuring)

3) Constructive dismissal - big change w/o notice - you must quit and sue

4) Wrongful dismissal - not given full info on why terminated - can try to apply for wrongful dismissal

Term
Employee Privacy Controlled By...
Definition
PIPEDA - federal legislation passed for it, organizations covered by it require consent of employee when gathering or disclosing personal info. The info must be used for intended purpose and must be safeguarded.
Term
Employee Privacy Off of Work, Does it Occur?
Definition
Yes, your twitter, facebook and anything on the internet can affect you at work so be careful.
Term
Approaches to Disciplinary Action (2)
Definition

1) Progressive Discipline - bigger consequence each time (every disciplinary action kept on record even if employee has fixed their problems)

2) Positive or Nunpunitive Discipline - Focusing on the problem and finding ways to fix it (ex// teachers need pay raise for child care - offer child support)

Term
Alternative Dispute Resolution (ADR) (3)
Definition

1) Step-review systems - review problems with higher ups, one step at a time (sometimes skipping steps)

2) Peer-review system - complaint committee composed of mgmt. and employees

3) Open-door policy - Mgmt. allows employees to give them their complaints

 

Term
Third-party dispute resolutions (3)
Definition

1) Ombudsperson system - counselling from person

2) Mediation - third party neutral - gives suggestions, doesn't bind anything

3) Arbitration - same as Mediation but it is binding, what they say is what must happen

Term
Core Fundamentals of Canadian Labour Legislation (5)
Definition

1) Right to join a union

2) Good faith bargaining

3) No strikes during collective agreement

4) Unfair labour practices not allowed

5) Conciliation (similar to mediation)

Term
Why do employee's join unions? (3)
Definition

1) Economic needs

2) Dissatisfaction with mgmt.

3) Social and leadership concerns

Term
Types of Unions (2)
Definition

1) Union Shop - employees agree to sign on and anyone who isn't a member joins

2) Closed Shop - Employer agrees to allow union, all employees must join the union when employed

Term
Interest based bargaining
Definition

A win/win scenario, each party gets what they want.

ex// teachers want 3% raise for child support, schools offer them child care and 2% raise. They both win.

Term
Types of Other Payment Systems For Expats (2)
Definition

1) Split pay - Some payment in the form of host currency and some in home currency for small periods. This is to protect savings from inflation or changes in exchange rates

2) Host-based pay (localization) - Paid based on the country they are working for, reduces any friction b/w employees working in the country and the expat

Term
Appraising Performance of Expats (3)
Definition

1) Home vs Host evaluations - mix of both is best, host has cultural influences and home doesn't know what the situation is for the expat

2) Performance criteria - what was the return on investment? was it worth the $1M of sending the expat?

3) Feedback - giving feedback and expat giving feedback to company about what they could do to help him

Term
Performance Measures (11)
Definition

1) Graphic rating scale - rate on a scale

2) Mixed-standard scales - 3 levels on the scale

3) Forced-choice method - pick 2 statements (good/bad)

4) Essay method - used w/ rating scales often

5) Critical incident

6) Behavioural checklist

7) Behaviourally anchored rating scale (BARS) - 5-10 vertical scale(crit. incid. measure on scale)similar 2 BOS

8) Behavior observation scale (BOS)- base on # occured

9) Productivity measure

10) Management by objectives(MBO)- work to objectives

11) Balanced scorecard (BSC) - Financial, customer, processes and learning

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