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unit 7-8
Human resource management and global business
| Term | Definition |
|---|---|
| Bonus | bonus paid at the end of a specific period of time for performance that exceeds the expected standard |
| Career development | a program that matches the career planning of employees with the employment needs of business |
| Career path | a progression of related jobs with increasing skill requirements and responsibility |
| Career plan | identifies the jobs that are a part of the employees's career path, the training and development needed to advance along the career path, and a tentative schedule for the plan's activities |
| compensation | the money or other benefits people receive for work |
| Cross training | employees are trained to perform more than one job in the company, even though they typically perform only one |
| Discharge | the termination of an employee from the company due to inappropriate work behavior |
| Employee benefits | all forms of compensation and services the company provides to employees in addition to salaries and wages |
| Employee turnover | the rate at which people enter and leave employment in a business during a year |
| Exit interview | a formal interview with an employee who is leaving a company to determine the person;s attitudes and feelings about the company's policies and procedures, management, and operations |
| flextime | a plan that lets employees choose their own work hours within specified limits |
| Home office | space within a persons home that is organized for the efficient performance of office tasks |
| Human resource management | all activities involved with acquiring, developing, and compensating the people who do the company's work |
| Job description | a list of basic tasks that make up a job |
| Job design | the kind of work and the way the work |
| Job enlargement | making a job more interesting by adding variety to the tasks |
| Job security | the likelihood that employment will not be terminated |
| Job sharing | an employment plan that allows two people to share one full-time job |
| Job specification | a list of the qualifications a worker needs to do a job |
| layoff | a temporary or permanent reduction in the number of employees resulting from a change in business conditions |
| Mobil office | an establishment defines by its ability to accomplish business activities in a temporary environment |
| Culture | the customs beliefs values and patterns of behavior of the people of a country or group |
| Domestic goods | products made by firms within a country |
| Embargo | a total ban from doing business with a particular country |
| Exchange rate | the value of ones country currency expressed in the currency of another country |
| Export | goods and services that are sold abroad |
| FOREIGN goods | products made by firms in other countries |
| global business | business activities that occur between two or more countries |
| Global competition | the ability of profit making organization to compete with other businesses in other countries |
| import | goods and services that are purchased abroad |
| Joint ventures | two or more businesses that agree to provide a good or service sharing the cost and profits or doing business |
| Multinational company | a business willing to make a significant financial commitment to establish manufacturing and distribution facilities in foreign countries |
| North America Free Trade Agreement (NAFTA) | a trading bloc consisting of the United States, Canada and Mexico |
| Sanctions | a milder form of embargo that bans specific business ties with a foreign countty |
| Strategic alliance | arrangements in which firms agree to cooperate on certain aspects of business while remaining competitors on other aspects |
| Tariff | a tax pn an import |
| Workd Trade Organization (WTO) | international organization that creates and enforces rules trade among countries |
Created by:
lauriejewellwhite
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