aPHR - Section 1 HR Operations - 38%

aPHR - Section 1 HR Operations - 38% Accounts Payable - CORRECT ANSWER-Money the organization owes to vendors or suppliers Accounts Receivable - CORRECT ANSWER-Money customers owe the organization Amendment - CORRECT ANSWER-Formal revision of, addition to, or change in a bill or a constitution Balance Sheet - CORRECT ANSWER-Accounting report showing the financial position of an organization Balanced Scorecard - CORRECT 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 - CORRECT ANSWER-The process of comparing a firm's performance against the "best practices" of other leading companies Bill - CORRECT ANSWER-Draft of a proposed law presented for approval to a legislative body Centralized organizational structure - CORRECT ANSWER-Decisions made by upper management (corporate headquarters) Chain of command - CORRECT 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) - CORRECT ANSWER-Unfreeze, move and refreeze Computerized forecast - CORRECT 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) - CORRECT 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 - CORRECT ANSWER-Management responsibilities for ensuring steps for the organizational plan are followed Coordinating - CORRECT ANSWER-Management responsibility for providing resources and tools to accomplish goals Core Competency - CORRECT ANSWER-Organizational capabilities or strengths - what an organization does best that differentiates it from competition Cost Leadership Strategy - CORRECT ANSWER-Organization seeks to satisfy the consumer need for quality, low cost, products and services Critical Success Factors (CSF) - CORRECT ANSWER-Activities that a business or organization must perform extremely well in order to achieve its mission, goals, and objectives Culture - CORRECT ANSWER-The values, beliefs and actions of a society Corporate Culture - CORRECT ANSWER-A company's values, beliefs, business principles, traditions, ways of operating, and internal work environment Customer based organizational structure - CORRECT ANSWER-Organizational chart based upon customer needs Decentralized Organizational Structure - CORRECT ANSWER-Decisions made by lower levels of authority Deflation - CORRECT ANSWER-A contraction in the volume of available money or credit that results in a general decline in prices Directing - CORRECT ANSWER-Management responsibility for leading and reinforcing for effective results Disposable income - CORRECT ANSWER-The amount of money consumers have available to spend after taxes have been paid Divisional organizational structure - CORRECT ANSWER-Organizational chart separated by product, market, group, region, etc. Dual chain of command - CORRECT ANSWER-Employees have more than one reporting relationship - as in a matrix structure Economic value added (EVA) - CORRECT 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 - CORRECT 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 - CORRECT ANSWER-Determining right and wrong behavior based on a set of standards of conduct and moral judgement Extranet - CORRECT ANSWER-A collaborative network that uses Internet technology to link businesses with their supplies, customers, or other businesses that share common goals Forecasting - CORRECT ANSWER-Estimating the likelihood of an event taking place in the future, based on available data from the past Formula Budgeting - CORRECT ANSWER-Overall cost applied to calculate increases in the next budget Functional organizational structure - CORRECT ANSWER-Organizational chart arranged by function/department (traditional) Gross Domestic Product (GDP) - CORRECT ANSWER-The value of the national goods and services produced excluding the value of net income earned abroad Gross Profit - CORRECT ANSWER-The difference between cost of goods sold and sales HR Audit - CORRECT ANSWER-A formal evaluation of the current state of HR management in an organization HR Generalist - CORRECT ANSWER-An employee responsible for performing a variety of HR activities HR Research - CORRECT ANSWER-The analysis of HR records and past data to assess the effectiveness of HR practices HR Roles - CORRECT ANSWER-Historic: Advisory, service, and control Current: Administrative, operational, and strategic HR Specialist - CORRECT ANSWER-An employee with extensive knowledge and expertise in limited area of HR HR Strategies - CORRECT ANSWER-The actions taken to anticipate and manage the supply of and demand for labor Human Capital - CORRECT ANSWER-The knowledge, talents and skills of employees that have economic value to an organization