BU354 Midterm -Definitions-Practice
Exam with Quality Answers 2026
Edition.
human resources management (HRM) - Answer The process of managing human talent to
achieve an organization's objectives
human capital - Answer The knowledge, skills, and capabilities of individuals that have
economic value to an organization
six sigma - Answer a set of principles and practices whose core ideas include understanding
customer needs, doing things right the first time, and striving for continuous improvement
reengineering - Answer the fundamental rethinking and radical redesign of business
processes to achieve dramatic improvements in cost, quality, service and speed
downsizing - Answer planned elimination of jobs
outsourcing - Answer contracting out work that was formerly done by employees
change management - Answer a systematic way of bringing about and managing both
organizational changes and changes on the individual level
reactive changes - Answer changes that occur after external forces have already affected
performance
proactive changes - Answer change initiated to take advantage of targeted opportunities
globalization - Answer the trend to opening up foreign markets to international trade and
investment
corporate social responsibility - Answer the responsbility of the firm to act in the best
interests of the people and communities affected by its activiites
sustainability - Answer doing business in a way that does as little harm to the environment
and depletes as few natural resources as possible
,collaborative software - Answer software that allows workers to interface and share
information with one another electronically
knowledge workers - Answer workers whose responsibilities extend beyond the physical
execution of work to include planning, decision making and problem solving
human resources information system (HRIS) - Answer a computerized system that provides
current and accurate data for purposes of control and decision making
workforce (HR) analytics - Answer the process of gathering and analyzing data to improve a
firm's human resources management
- e.g. O*NET
downsizing - Answer layoffs
not all firms improve efficiency and lower costs due to hidden costs:
- severance and rehiring costs
- accrued vacation and sick-day payouts
- etc.
some companies obtain benefits by avoiding downsizing:
- a fiercely loyal, more productive workforce
- higher customer satisfaction
- readiness to snap back with the economy
- etc.
furloughing - Answer alternative to downsizing,
a situation in which an organization asks or requires employees to take time off for either no
pay or reduced pay
outsourcing - Answer hiring external firms to perform work that would otherwise have to be
done internally
- e.g. hiring an accounting firm to handle financial services
offshoring - Answer the business practice of sending jobs to other countries
, nearshoring - Answer the process of moving jobs closer to one's home country
- e.g. with rising labor costs in China, NA firms can offshore work to Mexico and Central America
homeshoring - Answer the process of moving jobs to work-from home domestic independent
contractors
e.g. homeshoring call center jobs to demostic independent contractors who work out of their
homes
employee leasing - Answer the process of dismissing employees who are then hired by a
leasing company (which handles all HR-related activities) and contracting with that company to
lease back the employees
line managers - Answer non-HR managers who are responsible for overseeing the work of
other employees
strategic planning - Answer procedures for making decisions about the organization's long-
term goals and strategies
human resources planning (HRP) - Answer the process of anticipating and providing for the
movement of people into, within and out of an organization
strategic human resources management (SHRM) - Answer the pattern of human resources
deployments and activities that enable an organization to achieve its strategic goals
high-performance work systems (HPWS) - Answer a group of human resource practices that
have been proven to increase an organization's ability to attract, select, hire, develop and retain
high performing employees
mission - Answer the basic purpose of the organization as well as its scope of operations
strategic vision - Answer a statement about where the company is going and what it can
become in the future; clarifies the long-term direction of the company and its strategic intent
core values - Answer the strong and enduring beliefs and principles that the company uses as
a foundation for its decisions
environmental scanning - Answer systematic monitoring of the major external forces
influencing the organization
Exam with Quality Answers 2026
Edition.
human resources management (HRM) - Answer The process of managing human talent to
achieve an organization's objectives
human capital - Answer The knowledge, skills, and capabilities of individuals that have
economic value to an organization
six sigma - Answer a set of principles and practices whose core ideas include understanding
customer needs, doing things right the first time, and striving for continuous improvement
reengineering - Answer the fundamental rethinking and radical redesign of business
processes to achieve dramatic improvements in cost, quality, service and speed
downsizing - Answer planned elimination of jobs
outsourcing - Answer contracting out work that was formerly done by employees
change management - Answer a systematic way of bringing about and managing both
organizational changes and changes on the individual level
reactive changes - Answer changes that occur after external forces have already affected
performance
proactive changes - Answer change initiated to take advantage of targeted opportunities
globalization - Answer the trend to opening up foreign markets to international trade and
investment
corporate social responsibility - Answer the responsbility of the firm to act in the best
interests of the people and communities affected by its activiites
sustainability - Answer doing business in a way that does as little harm to the environment
and depletes as few natural resources as possible
,collaborative software - Answer software that allows workers to interface and share
information with one another electronically
knowledge workers - Answer workers whose responsibilities extend beyond the physical
execution of work to include planning, decision making and problem solving
human resources information system (HRIS) - Answer a computerized system that provides
current and accurate data for purposes of control and decision making
workforce (HR) analytics - Answer the process of gathering and analyzing data to improve a
firm's human resources management
- e.g. O*NET
downsizing - Answer layoffs
not all firms improve efficiency and lower costs due to hidden costs:
- severance and rehiring costs
- accrued vacation and sick-day payouts
- etc.
some companies obtain benefits by avoiding downsizing:
- a fiercely loyal, more productive workforce
- higher customer satisfaction
- readiness to snap back with the economy
- etc.
furloughing - Answer alternative to downsizing,
a situation in which an organization asks or requires employees to take time off for either no
pay or reduced pay
outsourcing - Answer hiring external firms to perform work that would otherwise have to be
done internally
- e.g. hiring an accounting firm to handle financial services
offshoring - Answer the business practice of sending jobs to other countries
, nearshoring - Answer the process of moving jobs closer to one's home country
- e.g. with rising labor costs in China, NA firms can offshore work to Mexico and Central America
homeshoring - Answer the process of moving jobs to work-from home domestic independent
contractors
e.g. homeshoring call center jobs to demostic independent contractors who work out of their
homes
employee leasing - Answer the process of dismissing employees who are then hired by a
leasing company (which handles all HR-related activities) and contracting with that company to
lease back the employees
line managers - Answer non-HR managers who are responsible for overseeing the work of
other employees
strategic planning - Answer procedures for making decisions about the organization's long-
term goals and strategies
human resources planning (HRP) - Answer the process of anticipating and providing for the
movement of people into, within and out of an organization
strategic human resources management (SHRM) - Answer the pattern of human resources
deployments and activities that enable an organization to achieve its strategic goals
high-performance work systems (HPWS) - Answer a group of human resource practices that
have been proven to increase an organization's ability to attract, select, hire, develop and retain
high performing employees
mission - Answer the basic purpose of the organization as well as its scope of operations
strategic vision - Answer a statement about where the company is going and what it can
become in the future; clarifies the long-term direction of the company and its strategic intent
core values - Answer the strong and enduring beliefs and principles that the company uses as
a foundation for its decisions
environmental scanning - Answer systematic monitoring of the major external forces
influencing the organization
