Strategic Management.txt

  1. Portion of silent and baby boom generations that is simultaneously caring for their own children and one or more elderly family members
    Sandwich Generation
  2. Organization's debts and other financial obligations.
  3. Combined knowledge, skils and experience of a company's employees.
    Human Capital
  4. Project management tool used to schedule, organize and coordinate tasks within a project.
    Program Evaluation Review Technique (PERT) chart
  5. Specifies what the company does, who its customers are and the priorities it has set in pursuing its work.
    Mission Statement
  6. Degree to which decision-making authority is given to lower levels in an organization's hierarchy.
  7. Measure that refers to the causal effects of one variable upon another.
  8. Group of people born after 1980.
    Generation Y
  9. Statement of a firm's financial position at a particular time.
    Balance Sheet
  10. Measure that indicates the relationship between two variables.
  11. Process of conducting an intensive investigation of a corporation as one of the first steps in a pending merger or acquisition.
    Due Diligence
  12. Proposal presented to a legislative body for possible enactment as a law.
  13. Project planning tool that graphically displays activities of a project in sequential order and plots them against time.
    Gantt Chart
  14. Modifications of the Constitution or a law; may be either formal (written) or informal (unwritten).
  15. Principles of conduct within an organization that guide decision making and behavior.
    Code of Ethics
  16. Sale by a company of an asset that is not performing well, that is not core to the company's business, or that is worth more as a separate entity.
  17. Money an organization's customers owe the organization.
    Accounts Receivable
  18. Business function responsible for selling an organization's product to the marketplace.
  19. Involves data that is gathered firsthand for a specific evaluation.
    Primary Research
  20. Number of members of an organization that have to be present before official business may be conducted.
  21. Point below which 50% of scores in a set of data lie.
  22. Based on research that uses open-ended interviewing to explore and understand attitudes, opinions, feelings and behavior.
    Qualitative Analysis
  23. Organizational structure that combines departmentalization by division and functions to gain the benefits of both.
    Matrix Structure
  24. Ability of an instrument to measure consistently.
  25. Techniques for communicating information about products to consumers.
  26. Design of format systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals.
    Human Resource Management (HRM)
  27. Measures the difference between what it costs to produce a product and the selling price.
    Gross Profit Margin
  28. Form of budgeting in which an average cost is applied to comparable expenses and general funding is changed by a specific amount.
    Formula Budgeting
  29. To an operations department, the ability to yield output.
  30. Legislative measure limited in effect to either the Congress or one of its chambers.
  31. Involves looking at a set of observations and designing a rule that characterizes or explains a pattern underlying the observations.
    Inductive Reasoning
  32. Uses data already gathered by others and reported in various sources.
    Secondary Research
  33. Specific point in a distribution of data that has a given percentage of cases below it.
  34. Statement explaining revenues, expenses and profits over a specified period of time, usually a year or quarter.
    Income Statement
  35. To an operations department, the act of detailed planning; based upon incoming orders, order history and forecasts of future demand.
  36. Expected distribution given a random sampling of people across a large population.
    Normal Distribution
  37. Specific results, accomplished in three to five years, that an organization seeks to achieve in pursuing its mission.
    Long-term Objectives
  38. Art and science of formulating, developing, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives.
    Strategic Planning
  39. Provide the direction tht enables an organization to achieve its long-term obejectives
  40. Process and activities used toformulate HR objectives, practices and policies.
    Strategic Management
  41. Short-term alliance beteen independent organizations in a potentially long-term relationship to design, produce and distribute a product.
    Virtual Organization
  42. Measure that indicates how much scores in a set of data are spread out around a mean oraverage.
    Standard Deviation
  43. Describe what is important to an organization, dictate employee behavior and create the organizations's culture.
  44. Money an organization owes its vedors and suppliers.
    Accounts Payable
  45. Analysis that shows in time at which total revenue associated with a program is equal to the total cost of the program.
    Break-Even Analysis
  46. Financial, physical and sometimes intangible properties an organization owns.
  47. To an operations department, an after-the-fact evaluation of a company's ability to meet its own specifications and its customer's needs.
  48. Detailed steps a unit, deartment ot team will take in order to achieve short-term objectives.
    Action Plans
  49. Degree to which decision-making authority is restricted to higher levels of management in an organization.
  50. Process to measure the effectiveness and efficiency of HR programs and positions.
    HR Audit
  51. To an operations department, an organization's major asset after physical buildings and equipment.
  52. Involves applying specific premises to a given situation to develop certain predictions about or understanding of the situation.
    Deductive Reasoning
  53. Prohibits American companis from making corrupt payments to foreign officials for the purpose of obtining or keeping business.
    Foreign Corrupt Practices Act (FCPA)
  54. Orgaizational structure that defines departments by what services they contribute to the organization's overall mission.
    Functional Structure
  55. Specific, testable prediction that is derived from a theory and describes a relationship between two variables.
  56. Process of planning, pricing, promoting and distributing goods and services to satisfy organoizational objectives.
  57. Process that surveys and interprets relevant data to identify external opportunities and threats
    Environmental Scanning
  58. Group of people born roughly beytween the years of 1965 and 1980.
    Generation X
  59. Systematic tool for gathering, storing, maintaining, retrieving and revising HR Data.
    Human Resource Information System (HRIS)
  60. Work groups that conduct the major business of an organization.
    Line Units
  61. Organizational structure in which divisions are seperated by product, customer or marker, or region.
    Divisional Structure
  62. Written request asking contractors to propose solution and prices that fir a customer's requirements.
    Request For Proposal
  63. Research method in which certain factors (variables) are manipulated and the results are examined.
    Scientific Method
  64. Relocation of processes or functions from a "home" country to another country.
  65. Time allowed for the public to express its views and concerns regarding an action of a regulatory agency.
    Public Comment Period
  66. Rule or order issued by a governemnt agency; often has the force of law.
  67. Measure that indicates the relationship between data itmes using x and y axes.
    Scatter Diagram
  68. Value that occurs most frequently in a set of data.
  69. Series of tasks and activities that has a stated goal and objectives, a schedule with defined start and end dates, and a budget that sets limits on the use of monetary and human resources.
  70. Distance between highest and lowest scores in a set of data.
  71. Portion of a population used to draw concllusions regarding an entire population.
  72. Serve a purpose similar to short-term objectives but are completed in one to three years.
    Mid-Term Objectives
  73. What an organization sells to make a profit.
  74. Action of canceling or postponing a decision or bill.
  75. For an operartions department, provide the yardstick by which the amount and quality of output are measured.
  76. Work groups that assist line units by performing specialized services, such as HR.
    Staff Units
  77. Ability of an instrument to measure what it is intended to measure.
  78. Amount of owner's or shareholder's portion of a business.
Card Set
Strategic Management.txt
PHR Module 1