SHRM-CP 2021 Questions and Answers Already Passed.2022/2023, updates

SHRM-CP 2021 Questions and Answers Already Passed.2022/2023, updates Document Content and Description Below SHRM-CP 2021 Questions and Answers Already Passed PESTLE Political, Economic, Social, Technological, Legal, Environmental Globalization web of interconnectedness or the movement of peop le (labor) and knowledge (technology) across borders Foreign Direct Investment (FDI) the investment of foreign assets into domestic structures, equipment, and organizations Global Remittances Monies sent back home by migrants working in foreign countries. Diaspora A mass migration of a group from its homeland to multiple destinations Demographic Dichotomy Workforce in emerging countries becoming disproportionately young, but in developing countries, aging rapidly. Reverse Innovation Innovations created for or by emerging-economy markets and then imported to developed-economy markets. hyperconnectivity increasing digital interconnection of people—and things—anytime and anyplace pushes and pulls Organizations have been pushed toward globalization in reaction to changes in the business environment. They have been pulled toward change through the promise of achieving greater organizational value through lization push factors A need for new markets; Increased cost pressures and competition; Shortfalls in natural resources and talent supply; Government policies; Trade agreements; A globalized supply chain tax inversion, aka expatriation seeking to avoid higher corporation taxation rates by acquiring foreign-based competitors and then moving headquarters to their acquisition's home base globalization pull factors Greater strategic control; Government policies that promote outward foreign investment; Trade agreements Turnkey Operation An existing facility and its operations are acquired and run by the purchaser without major changes Greenfield Operation Building a new operation from the ground up Brownfield Operation Repurposing an existing disused facility Perlmutter's four orientations for multinational corporations Ethnocentric, Polycentric, Regiocentric, Geocentric Ethnocentric Headquarters maintains tight control over subsidiaries, who are expected to follow strategic pattern, values, policies, and practices expressed by headquarters; "one best way" Polycentric Subsidiaries are allowed a large measure of independence as long as they are profitable; "many best ways" Regiocentric Subsidiaries are grouped into regions (Such as North America, Europe and Asia Pacific) Communication and coordination are high within the region but not as high between the region and headquarters.Geocentric Subsidiaries are neither satellites taking orders nor independent bodies setting their own course. Headquarters and subsidiaries are participants in a network, each contributing to its unique expertise; "a team way" global integration and local responsiveness Organizational continuum strategies to meet the needs of customers and expand their growth opportunities. global integration Emphasizes consistency of approach, standardization of processes, and a common corporate culture across global operations local responsiveness Emphasizes adapting to the needs of local markets and allows subsidiaries to develop unique products, structures, and systems. Market, Cost, Governmental, Competitive Four drivers that determine an organization's choice of whether to emphasize global integration or local responsiveness Assignees Employees who work outside their home countries. Global, Transnational, International, Mulitdomestic Matrix that describes ways in which an organization can combine GI and LR elements into a single globalization strategy International Strategy strategy that is low in global integration - in that there is little pressure to increase efficiency - and also low in local responsiveness - in that there is little advantage in tailoring products or services to individual foreign markets; suits organizations with strong global brand identity or very specialized products or services that enjoy weak local competition Multidomestic Strategy organizations with subsidiaries in multiple countries that operate with a fair degree of independence from each other and from headquarters, which remains in the home country; decentralized federations; portfolio of independent businesses; low in GI and high in LRGlobal Strategy high in GI but low on the LR scale; the headquarters (which may or may not be in the originating country) maintains a strong relationship with each subsidiary, integrating operations to take advantage of conditions in subsidiary markets, such as inexpensive labor or materials, and standardizing its products or services "hub and spoke" - the centralized hub makes key strategic decisions and exerts tight but simple controls on subsidiaries Transnational organizational structure Strong links between headquarters and subsidiaries and among subsidiaries; high GI and high LR Glocalization an organization with a strong global image but equally strong local identity Upstream Strategies Decisions made at HQ-workforce alignment, organizational development, knowledge and experience sharing. Downstream Strategies Decisions make at local level. Identity Alignment Extent to which diversity is embraced in management of people, products/services, and branding. Process Alignment Extent to which underlying operations such as IT, finance, or HR integrate across locations. outsourcing A practice where a company transfers portions of work (e.g. processes or production) to outside suppliers rather than completing it internally. Offshoring The practice of relocating processes or productions to another country; historically, has largely involved movement from developed countries to distant developing countries.Onshoring Refers to the relocation of business processes or production to a lower-cost location inside the same country as the business; sometimes called "home-shoring."; can also include where businesses allow employees to work from home. Near-shoring Refers to a company contracting a part of its business processes or production to an external company located in a country that is relatively close (e.g. within its own region). International Assignee (IA) an employee who is being reassigned to an international jurisdiction; traditional expatriates on full relocation assignments lasting from one to three years. Expat Generally refers to anyone who is not a citizen of the country in which they reside and doesn't intent to become a permanent resident. Globalists Spend their entire careers in international assignments, moving from one locale to another Local Hires Hired locally in subsidiary countries (and are also known as HCs, host-country nationals) Short-term assignees On assignment for less than a year but more than a few weeks, often without moving the family Commuters Travel across a country border for work regularly. Just-in-time expatriates These are ad hoc or contract expatriates, who are hired from outside the firm just as they are needed and just for one assignment. Global Assignment Process Stage 1: Assessment and selection Stage 2: Management and assignee decision Stage 3: Pre-departure and preparationStage 4: On assignment Stage 5: Completing the assignment Repatriation involves reintegrating the employee back into the home country after an international assignment Redeployment Process by which an organization moves an employee out of an international assignment; can involve moving back to the home country, moving to a different global location, or moving to a new location or position in the current host country. Diversity the similarities and differences between individuals, accounting for all aspects of one's personality and individual identity Diversity of thought view that focuses on valuing the unique perspectives individuals bring to an organization Principle of Equal Opportunity where the employer needs to provide a level playing field for all groups and minorities without discrimination Principle of Reservation where laws mandate a percentage quota or other special considerations for specified minority or ethnic groups Equity refers to a focus on promoting fairness and justice via organizational structure, distinct from the notion of equality; the goal is to use the available support systems to ensure everyone ends up at the same level Four-Layer Model of Diversity Dimensions Organizational Dimensions External Dimensions Internal Dimensions PersonalityEmployee Resources Groups (ERGs) voluntary groups for employees who share a particular diversity dimension Inclusion Extent to which each person in an organization feels welcomed, respected, supported, and valued as a team member. Covering defensive behavior that occurs when an organization recruits a diverse workforce, but consciously or otherwise, promotes assimilation rather than inclusion; "you are welcome despite of who you are, not because of who you are" similarity bias tends to reward (with assignments, promotions, etc.) people who share the same traits DEI Strategic Process 1. Executive Commitment 2. Preliminary Assessment 3. Infrastructure Creation 4. System Changes 5. Training 6. Measurement and Evaluation 7. Evolution and Integration diversity council Task force created to define a diversity and inclusion initiative and guide the development and implementation process. Risk Management The identification, assessment, and prioritization of risks and the application of resources, to minimize, monitor, and control their probability and impact. moral hazar that alignment and balance (not just alignment) between an organization's goals and associated risks is a necessary requirement for a sustainab