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Glossary of Human Resource Mgmt 11th Ed. Chapter 2

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Benchmarking
Comparing specific measures of performance against data on those measures in other organizations.
Culture
Societal forces affecting the values, beliefs, and actions of a distinct group of people.
Economic value added (EVA)
Net operating profit of a firm after the cost of capital is deducted.
Effectiveness
The extent to which goals have been met.
Efficiency
The degree to which operations are done in an economical manner.
Environmental scanning
Process of studying the environment of the organization to pinpoint opportunities and threats.
Forecasting
Using information from the past and the present to identify expected future conditions.
Global organization
Firm that has corporate units in a number of countries that are integrated to operate worldwide.
HR audit
Formal research effort that evaluates the current state of HR management in an organization.
HR metrics
Specific measures tied to HR performance indicators.
HR Strategies
Means used to anticipate and manage the supply of and demand for human resources.
Human resource (HR) planning
Process of analyzing and identifying the need for and availability of human resources so that the organization can meet its objectives.
Importing and exporting
Buying and selling goods and services with organizations in other countries.
Individualism
Dimension of culture that refers to the extent to which people in a country prefer to act as individuals instead of members of groups.
Long-term orientation
Dimension of culture that refers to the preference of people in a country for long-term values as opposed to short-term values.
Masculinity/femininity
Dimension of culture that refers to the degree to which “masculine” values prevail over “feminine” values.
Multi-national enterprise (MNE)
Organization that has operating units located in foreign countries.
Organizational culture
The shared values and beliefs in an organization.
Power distance
Dimension of culture that refers to the inequality among the people of a nation.
Productivity
Measure of the quantity and quality of work done, considering the cost of the resources used.
Return on investment (ROI)
Calculation showing the value of expenditures for HR activities.
Strategic HR management
Use of employees to gain or keep a competitive advantage, resulting in greater organizational effectiveness.
Succession planning
Process of identifying a longer-term plan for the orderly replacement of key employees.
Uncertainty avoidance
Dimension of culture that refers to the preference of people in a country for structured rather than unstructured situations.
Unit labor cost
Computed by dividing the average cost of workers by their average levels of output.

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