Human Resource Management: Key Concepts and Structures, Exams of Nursing

Download Human Resource Management: Key Concepts and Structures and more Exams Nursing in PDF only on Docsity! aPHR - Section 1 HR Operations - 98% Correct!! Accounts Payable - Answer Money the organization owes to vendors or suppliers Accounts Receivable - Answer Money customers owe the organization Amendment - Answer Formal revision of, addition to, or change in a bill or a constitution Balance Sheet - Answer Accounting report showing the financial position of an organization Balanced Scorecard - Answer A management tool that provides a concise picture of the overall organization in four quadrants: 1) financial; 2) customer perspective; 3) internal processes; and 4) learning and innovation Benchmarking - Answer The process of comparing a firm's performance against the "best practices" of other leading companies Bill - Answer Draft of a proposed law presented for approval to a legislative body Centralized organizational structure - Answer Decisions made by upper management (corporate headquarters) Chain of command - Answer A system where authority passes down from the top through a series of management positions in which each is accountable to the one directly superior Change Theory (Kurt Lewin) - Answer Unfreeze, move and refreeze Computerized forecast - Answer Software package that allows projection of staff needs based on project sales, production volume and staff needed to maintain that level of production Consumer Price Index (CPI) - Answer Index measuring the change in the cost of typical wage-earner purchases of goods and services expressed as a percentage of the cost of the same goods and services in some base period Controlling - Answer Management responsibilities for ensuring steps for the organizational plan are followed Coordinating - Answer Management responsibility for providing resources and tools to accomplish goals Core Competency - Answer Organizational capabilities or strengths - what an organization does best that differentiates it from competition Cost Leadership Strategy - Answer Organization seeks to satisfy the consumer need for quality, low cost, products and services aPHR - Section 1 HR Operations - 98% Correct!! Critical Success Factors (CSF) - Answer Activities that a business or organization must perform extremely well in order to achieve its mission, goals, and objectives Culture - Answer The values, beliefs and actions of a society Corporate Culture - Answer A company's values, beliefs, business principles, traditions, ways of operating, and internal work environment Customer based organizational structure - Answer Organizational chart based upon customer needs Decentralized Organizational Structure - Answer Decisions made by lower levels of authority Deflation - Answer A contraction in the volume of available money or credit that results in a general decline in prices Directing - Answer Management responsibility for leading and reinforcing for effective results Disposable income - Answer The amount of money consumers have available to spend after taxes have been paid Divisional organizational structure - Answer Organizational chart separated by product, market, group, region, etc. Dual chain of command - Answer Employees have more than one reporting relationship - as in a matrix structure Economic value added (EVA) - Answer Net operating profit after taxes minus (capital x cost of capital); a measure of the economic value of an investment or project Employee Engagement - Answer The extent to which an employee feels a sense of attachment to the organization and believes in tis goals and supports its values Ethics - Answer Determining right and wrong behavior based on a set of standards of conduct and moral judgement Extranet - Answer A collaborative network that uses Internet technology to link businesses with their supplies, customers, or other businesses that share common goals Forecasting - Answer Estimating the likelihood of an event taking place in the future, based on available data from the past Formula Budgeting - Answer Overall cost applied to calculate increases in the next budget aPHR - Section 1 HR Operations - 98% Correct!! Outsourcing - Answer Transferring or sharing management control and/or decision- making of a business function to an outside supplier Planning - Answer Management responsibility for studying, forecasting and goal setting Primary research - Answer Research method in which data is collected first-hand for the specific project being conducted Product Differentiation Strategy - Answer Organization seeks to satisfy the consumer desire for unique products and services Productivity - Answer The amount of output per unit of input (labor, equipment, and capital). Quorum - Answer A minimal number of officers and members of a committee or an organization, usually a majority, who must be present for valid transaction of business Reengineering - Answer Redesigning a business to improve measures of performance such as cost, quality of service, and speed Regulation - Answer A principle, rule, or law designed to control or govern conduct Return on investment (ROI) - Answer Benefits of a project (over a set time period) divided by the amount invested in the project Secondary research - Answer Published or recorded data that have already been collected for some purpose other than the current study Social Responsibility - Answer An organization's long term investment in causes that do "good" in society while enhancing the company's image/reputation with the community Span of Control - Answer The ration expressing the number of workers that one manager is considered to be able to supervise effectively in a particular situation Staff manager - Answer A manager who assists and advises line managers Stages of reaction to change - Answer Denial, anger, neutral, depression, and acceptance Strategic change - Answer A change in the company's vision, mission and strategy Strategic Human Resource Management - Answer A HR management approach that focuses on positioning the organization for success - both now and in the future aPHR - Section 1 HR Operations - 98% Correct!! Strategy - Answer A company's long term plan to maintain a competitive advantage balancing internal and external strengths and weaknesses Tactics - Answer Detail of the steps to carry out a strategy Unit Labor Cost - Answer The cost of workers' pay and benefits per unit of manufactured output Utility analysis - Answer The use of economic or other statistical models to identify the costs and benefits associated with specific HR activities Values - Answer What the organization hold in high regard that governs its operations Veto - Answer The vested power or constitutional right of one branch or department of government to refuse approval of measures proposed by another department, especially the power of a chief executive to reject a bill passed by the legislature Vision - Answer What the organization will look like in the future Vote - Answer A formal expression of preference for a candidate for office or for a proposed resolution of an issue Zero-based budgeting - Answer New budget starts at "zero" and all expenditures are budgeted