Flashcards
Managing HR - CH1 Definitions
Cards in this deck (17)
- 1Human Resources Management (HRM)The process of managing human talen to acieve an organization's objectives
- 2Human CapitalThe knowledge, skills, and capabilities of individuals that have economic value
- 3Six SigmaA set of principals and practices whose core ideas include understanding customer needs, doing things right the first time and striving for continuous improvement
- 4ReengineeringThe fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, service and speed
- 5DownsizingPlanned elimination of jobs
- 6OutsourcingContracting out work that was formerly done by employees
- 7Change ManagementA systematic way of bringing about and managing both organizational change and changes on the individual level
- 8Reactive ChangesChanges that occur after external forces have already affected performance
- 9Proactive ChangeChange initiated to take advantage of targeted opportunities
- 10GlobalizationThe trend to opening up foreign markets to international trade and investment
- 11Corporate Social ResponsibilityWorkers whose responsibilities extend beyond the physical execution of work to include planning, decision making and problem solving
- 12Human Resources Information System (HRIS)A computerized system that provides current and accurate data for purposes of control and decision making
- 13FurloughingA situation in which an organization asks or requires employees to take time off for either no pay or reduced pay
- 14OffshoringThe business practice of sending jobs to other countries
- 15NearshoringThe process of moving jobs closer to one's home country
- 16Employee LeasingThe process of dismissing employees who are then hired by a leasing company (which handles all HR related tasks) and contracting with that company to lease back the employee
- 17Line ManagersNon-HR managers who are responsible for overseeing the work of other employees