HR COMPETENCIES
low-context culture
(It is not personal, it is just business). In this culture, relationships tend to have less history . Because individuals know each other less well and don't share a common database of experience, communication must be very explicit . USA, UK, Canada
high-context culture
(No business until I get to know you personally). a culture characterized by complex, usually long standing networks of relationships, which are as important as work and often blur the line between businesses and social lives.. Members of this culture share a rich history of common experience, the way they interact and interpret events is often not apparent to outsiders. High Context countries are china, Japan, France, Most Latin American countries also have high content culture.
Jurisdiction
(n.) an area of authority or control; the right to administer justice
aspects of cultural intelligence
- Cognitive- includes thinking, learning and strategizing - Motivational - includes effectivesness, confidence, persistence, value and level of attraction towards a new culture. - behavioral - includes an individual's range of possible actions and responses to intercultural encounters.
Consulting Model
- Define problem -Design and implement solution - Measure effectiveness -Sustain improvement.
HR Stakeholders
- Internal Customers -external customers - Suppliers - Communities - Institutions - Government Agencies - political agencies
FOCUS GROUP TOOLS
- Mind Mapping and affinity diagramming: discussing core ideas as a group - Nominal Group Technique (NGT) : members of the group take turns to suggest an idea and the round continues until no further idea is suggested. -Delphi Technique :This technique progressively collects information from a group on a preselected issue.
graphic data analysis tools
- Pie Chart- portions or slices of a circle that comprises 100% of a data group. -Histogram - sorting of Fata into groups arrange in the shape of statistical distribution showing the central tendency and dispersion around the tendency. -Trend Diagram- plots data points on two axes. Horizontal axis represents time and vertical axis represents volume. - Pareto Chart - applies the principle that 80% of effects comes from 20% of causes in the form of a histogram. -Scatter Diagram - plots data points against two variables that form the charts x and y. Each axis is scaled. -
Group Decision-Making Techniques
- Swot Analysis : Strengths, Weakness, Opportunities and Threats. - Multi-Criteria Decision Ananysis ( MCDA) : - Cost- Benefit Analysis - Forced Field Analysis- tool designed to analyze the forces favoring and opposing a particular change
Leadership Theories
-Trait Theory -Behavioral Theory - Situational Theory -Blake Mouton Theory -Fielder's Contigency Theory - Path-Goal Theory -Emergent Theory
Conflict Resolution Strategies
1) Avoiding- Leader withdraws from the situation or accepts it. 2) Collaborating/Confronting- Leader and those in conflict accept the fact that they disagree and look for a third way to solve the problem or conflict. 3) Compromising - Leader asks those in conflict to bargain. 4) Cooperating/accommodating- Leader restores good relations by emphasizing agreement and downplaying disagreement. 5) Asserting/Force - Leader imposes a solution. One side wins and the other side loses.
four types of potential allies in a workplace.
1) Bureaucratic black belts: These people know the system very well and know how to make things happen. 2)Tugboat pilots: These group have good political instincts . They usually have a deep history within the organization and can predict reactions 3) Benevolent Bureaucrats: these set of people are willing to partner but have their own agenda. 4) Wind surfers: these group of people are willing to partner but only to share in any successes. They add little value to the initiative and to the process of gaining support but simply want to attach themselves to it.
Stages for negotiating cultural dilemmas
1) Cultural domination and cultural accommodation are essentially about assimilation. I assimilate your beliefs or you assimilate more. 2) Cultural Compromise involves both sides giving up some values in order to meet in the middle. 3) Cultural Synergy - involves creating a third way and finding out what works well in each culture and removing barriers to communication and collaboration including language and policies.
Organization/Product life cycle
1) Introduction - revenue is low because there is little market awareness and because of the market's resistance to change. 2) Growth - Revenue begins to increase at a rate that will vary by industry, enterprise or product. 3) Maturity- The market is saturated with competitors and growth occurs only through introduction of new products or customer groups (which starts new cycle for those entrants) or through acquisition. Profit Margin becomes narrower and efficiency becomes more important. 4) Renewal/No Growth/Decline - demand will decrease wither because the need no longer exists or it is satisfied more effectively by something or someone new. Organizations can renew themselves by completely changing their offerings, where they compete, or how they compete. Take no action and accept continues low revenue or take no action and experience a decline in revenue which will make it impossible to compete or operate.
Data Sources
1) Qualitative data: consists of subjective evaluation of actions, feelings or behaviors. Measurement can be made by a third party observer. ( Interviews, focus groups, surveys and questionnaires, observation, existing data and documents, artifacts) 2)Quantitative data: consists of objective measurements that can be verified and used in statistical analysis (such as the number of employees in an organization, number of female employees, average number of hires per year etc).
Conditions that make change possible
1) Shared purpose 2)Reinforcement systems ( encouragement, communication and support from management) 3) Skills required for change 4)Consistent role models.
4 T's that are valuable strategies in creating a global mindset
1) Travel 2). Teams (diverse group) 3) Training 4) Transfers
Change Process
1) Unfreezing the current state so as to get people to accept that change will occur. 2) Moving: move towards the new state and get people to accept the new desired state. 3) Refreezing- once the change has been implemented and generally accepted, the focus should be on making the new idea a regular part of the organization.
data analysis approaches
1) VARIANCE ANALYSIS: identifies the degree of difference between planned and actual performance. 2) RATIO ANALYSIS: compare the relative size of two variables and yields a percentage. 3) TREND ANALYSIS: examines data from different points in time to determine if a variance is an isolated event or if it is part of a longer trend. 4) REGRESSION ANALYSIS : refers to the statistical methods used to determine whether a relationship exists between variables and the strength of the relationship. 5) Root- Cause ANALYSIS: starts with a results and then works backward. Each cause is queried to identify a preceding cause, condition or action that might have led to this effect. 6) SCENARIO ANALYSIS: what if analysis can be used to test the possible effects of altering the details of a situation to see how the outcome will vary under different conditions.
Types of Power
1) legitimate- power that is created formally through a title or position in the hierarchy that is associated with the rights of leadership. 2) reward- power that is created when the leader can offer followers something they value in exchange for their commitments such as compensation and promotions. 3) coercive- power that is created when the leader has the power to punish those who do not follow. 4) expert- power that is created based on the leader possessing great intelligence, insight and experience. 5) referent- power that is created by the force of the leader's personality such as the ability to attract admiration, affection and loyalty.
Negotiation Styles (Negotiation)
1) soft negotiators value relationship more than the outcome and will back down on issues in the interest of reaching an agreement. 2) Hard negotiators are committed to winning, even at the cost of the relationship. 3) Principled negotiation - the negotiators aim for mutual gain applying the process developed by Roger Fisher and William Ury called interest based relational negotiating or integrative bargaining. The focus is on the problem rather than personal differences.
Layers of Culture
1)Basic Assumptions (implicit culture - core beliefs), 2)Norms and Values (right and wrong and acceptable behavior) and 3)Artifacts and Products (explicit culture - food, dress etc.)
Leadership Approaches
1)Coercive 2) Authoritative 3) Affiliative 4) Democratic 5) Pacesetting 6) Coaching
Obstacles to achieving cross cultural understanding
1)Ethnocentrism and Parochialism - Ethnocentrism is our way is the best way and not really interested in any other way of reaching a goal. Parochialism is there is only one way to solving a problem or reaching a goal. 2)Cultural Stereotypes - judgement of other cultures. perceptions of a culture are applied to all other culture members often negatively. 3)Cultural Determinism - The culture made me do it. culture defines behavior, therefore, excuses some actions and make changes impossible. 4) Culture relativism - this holds that because cultures vary so widely and greatly, everything is relative.
Ethical Decision Making
1. Clarify the ethical dilemma 2. Gather additional data 3. Identify options 4. Make a decision 5. Act 6. Evaluate
Motivational Theories
1. Needs-based theories - Individuals are motivated by a desire to satisfy a need. 2. Theory X/ Theory Y - Theory X is irrelevant or Theory Y is absolutely critical. Theory X leasers micromanage and coerce team members because they believe that people do not like to work and must be strictly controlled. Theory Y leaders believe that employees dislike rigid control and inherently want to accomplish something. Therefore, the leaders apply a more participative style that empowers employees. 3. Goal-setting theory - Motivation can be increased by providing employees with goals against which they can assess their environment 4. Expectancy theory-Effort increases in relation to one's confidence that the behavior will result in a positive outcome and reward. ------Vroom- Level of effort depends on expectancy (with reasonable effort, the employee can succeed), instrumentality (success will result in a reward), Valence (meaningful reward to the employee) 5 Maslow'- based on the hierarchy of needs (physiological needs, safety and security, belonging and love, esteem and self actualization 6) Herzberg - behavior is driven by intrinsic factors (challenging and meaningful work) and extrinsic factors (rewards, pay, job security, 7) Mcclelland - individuals are motivated by achievement, affiliation and power. 8) Self determination- Individuals are motivated by innate needs, and relatedness but also want autonomy and purpose. 8) Attribution theory- The way a person interprets the causes for past success or failure is related to the present level of motivation.
Geert Hofstede's Cultural Dimensions
1. Power Distance- patterns of distribution of power to culture's members. 2. Individualism/collectivism - the degree to which individuals perceive themselves as members of a group. 3. Masculinity/Femininity - degree to which culture follows traditional gender characterization. 4. Uncertainty-avoidance- level of tolerance of ambiguous or new situations. 5. Long-term/Short term orientation - long term cultures prepare to change, short term cultures focus on traditions and tend to resist change. 6) Indulgent/resistant - gratification of individual desires.
Negotiation Process
1. Preparation and planning 2. Relationship building 3. Information exchange 4. Persuasion 5)Concessions 5. Agreement
Types of conflict
1. Task Conflict 2. Relationship Conflict 3. Process Conflict
Income Statement
A financial statement showing the revenue and expenses for a fiscal period (usually a quarter or a year) It is also know as the profit and losss statement. Revenue- Expense= Net Income. Gross Profit= Sales-Cost of producing what is sold. Gross Profit Margin= Gross Profit + Net Sales. Net Income = what a business has after paying interest and taxes. This is available for reinvestment or for distribution to owners and stockholders. Net Profit= Net Income + Net Sales.
Balance Sheet
A financial statement that reports assets, liabilities, and owner's equity on a specific date/particular time. It is an indicator of the organizations financial health.
Cash Flow Statement
A financial statement that shows the flow of money in and out of the business through operations, investing and financing over a defined period of time.
negotiation
A form of communication between opposing sides in a conflict in which offers and counteroffers are made and a solution occurs only when both parties agree
Civil Law
A legal system based on a written code of laws approved by legislative bodies
Online Analytical Processing (OLAP)
A method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube.
budget
A plan for making and spending money
focus group
A small group of individuals who are led in discussion by a professional consultant in order to gather opinions on and responses to candidates and issues.
Path-Goal Theory
A theory that states that it is the leader's job to assist followers in attaining their goals and to provide the necessary direction and/or support to ensure that their goals are compatible with the overall objectives of the group or organization.
global mindset
Ability to take an international, multidimensional perspective that is inclusive of other cultures, perspectives, and views.
Liabilities
Amounts owed to creditors such as rent, loans or notes, wages and benefits, that have been earned but not paid, reserves set aside to cover liabilities, unpaid fines or legal judgements, tax debts and account payables.
Levels of law
Analyzing laws by their areas of control such as: 1) national - laws enacted by the highest or federal legislative bodies of a country intended to apply across the entire nation. 2) subnational - municipalities, states, provinces or regions within a nation. 3) supranational - These are binding agreements among nations of a region. E.G European Union which is a political as well as economic organization. 4) international - Involves both the relationship between nations and the treatment of individuals within national boundaries. 5) Extraterritorial - laws that extend the power of a country's laws over its citizens outside that country's sovereign national boundaries.
Culture
Beliefs, customs, and traditions of a specific group of people.
Statistical Sampling
Choosing part of a population of interest for inspection.
Stakeholder concept
Concept that proposes that any organization operates within a complex environment in which it affects and is affected by a variety of forces or stakeholders who all share in the value of the organization and its activities.
capital costs
Costs of investment in major physical improvements, infrastructure and equipment, such as buildings, roads, and machinery.
Critical Evaluation and Evidence Based Decision
Critical Evaluation: refers to examining an idea, a process or an event with an open, objective and inquiring mind. It is a critical skill in evidence based decision making (EBDM) using sound data to hypothesize, assess and select solutions. Steps in EBDM: - Ask questions -Acquire and gather information -Appraise and determine whether the evidence gathered is relevant, valid, reliable, and unbiased. -Aggregate: combine and organize data to prepare ir for analysis. -Apply: see the logical connections within the data and with the issue. Use the data to draw conclusions. -Assess: Monitor the solution that has been implemented and objectively measure the extent to which the objectives have been attained.
Managing the change spectrum
Employees could fall into one of the 3 categories: - Resistant -Neutral -Welcoming
Errors and Bias in Statistical Analysis
Errors occurs for the following reasons: 1) incorrect data is used. 2)Biases Biases involve: 1) Sampling: a sample may not represent the general population 2) Selection: selection bias may occur in a controlled study when participants are not randomly assigned to control and experimental groups. Bias also occurs when researchers chose to enroll only certain types of participants 3)Response: the researchers invite the representation sample to join but the group that responds are not representative. 4) Performance: participants in a controlled study behave differently because they are being studied. 5) Measurement: Rates are measuring incorrectly, either unintentionally or intentionally.
Data Measurement tools
Frequent distribution -used to sore data into groups according to some factors such as years of employment. Quartiles and Percentiles - describe dispersion across a group of ranked data. Quartiles divide a data set into quarters and percentile indicate the proportion of the data set at a certain percentage. For example, a value in the 90th percentile is greater than 90% of the values in the dataset. Interquartile Range: applies the concept of quartiles to measures of central tendency. Standard Deviation- represents the distance of any data point from the center of a distribution when data is distributed in a normal or expected pattern. Often shown as a bell curve. Measures of central tendency- Mean, Median and Mode. - Mean- the average score or value. -Median - 50th percentile is the middle value in the range of values. -Mode- the most frequently occurring value in a set of data. Unweighted Mean- the sum of all the values in the sample divided by the number of values. This is useful when the values are relatively close together and when they represent volume as opposed to numerical order or numerical preference. Weighted Mean- is used when some data in the dataset have more significance or effect than other data.
HR Budgets
HR budget includes: - Ongoing operational costs related to HR essential services such as recruitment, selection, employee relations activities and talent management, compensation and benefits, training and development, Health, safety and security, information technology, planning and philantrophy). - One time project costs planned to suppler HR strategy and objectives (such as an executive salary review)
Feedback
Helps message receivers confirm their understanding of a message.
High and low context cultures (Edward T Hall)
Individuals in high-context cultures spend a lot of time getting to know one another before engaging in any important transactions; in low-context cultures, there is less prior knowledge of the members so everything has to be stated explicitly.
Business Intelligence
Information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making. Components of Business Intelligence: 1) Data Gathering 2) Data Warehousing 3) Query and reporting Capabilities
Hersey and Blanchard's situational leadership
Leaders adapt their behaviors to meet the evolving needs of team members. As team members grow in skill and experience, leaders supply the appropriate behavior: 1) Telling when the employee is not yet motivated or competent 2)Selling when the increasingly competent employee still need focus and motivation 3)Participating when competent workers can be included in problem solving and coached on higher skills. 4) Delegating when very competent team members can benefit from greater levels of autonomy and self direction.
Emergent Theory
Leaders are not appointed but emerge from the group, which chooses the leader based on interactions.
Fielder's Contingency Theory
Leaders change the situation to make it more favorable and more Likely to produce good outcomes.
Behavioral Theories
Leaders influence group members through certain behaviors
Trait Theory
Leaders possess certain innate characteristics that followers do not possess such as physical characteristics (strength, stamina) and personality traits (decisiveness,, integrity). - Also referred to as the Great Man Theory
Rule of Law
No one is above the law
business case
Presentation to management that establishes that a specific problem exists and argues that the proposed solution is the best way to solve the problem in terms of time, cost efficiency, and probability of success. A business case must include the following: 1) Statement of need- this is the condition or change impelling the functions action. 2)Recommended solution 3) Risks and Opportunities. 4)Estimated Costs and time frame
Value chain members
Primary Activities= Research and Development, Operations, Marketing and Sales, Fulfillment, Customer. Secondary Activities = Management, Finance, Legal, Supply Management, HR management, Technology
Dilemma reconciliation
Process of charting a course through cultural differences. 4 steps: - Recognize (create awareness of cultural differences) - Respect ( Appreciate the value of differences) -Reconcile (Resolve differences by finding a common path) -Realize ( Implement solutions and institutionalize them in the organization).
Change Management
Process of making sure changes are made smoothly and efficiently and do not negatively affect systems reliability, security, confidentiality, integrity, and availability.
Fons Trompenaars and Charles Hampden-Turner Cultural dimension
Seven dilemmas that illustrate points of cultural tension: 1) Universal/particular- flexibility vs defined set of rules 2) Individual/Communitarian- the good that drives decision either the individual or the society as a whole. 3) Neutral/ Affective - Expression of emotion 4) Specific/Diffuse- Public and private boundaries. In specific cultures, public and private lives as separate. Diffuse allows a public contact access into ones private life once certain conditions are met (time, introductions from other people). 5) Achieved/Ascribe - Source of merit (personal accomplishment or connection). 6) Sequential/Synchronic- Sense of time (linear and limited or cyclical and expansive) 7)Internal/External- Individual's control over one's destiny.
HR Competencies
Skills and abilities that all human resource managers ought to possess, including strategic contribution, personal credibility, HR delivery, business knowledge, and mastery of HR technology. -Leadership and Navigation -Ethical Practice -Relationship Management -Communication -Global and cultural effectiveness -Business Acumen -Consultation -Critical Evaluation
business acumen
The KSA needed to understand the organization's operations, functions and external environment and to apply business tools and analyses that inform HR initiatives and operations consistent with the overall strategic direction of the organization.
Leadership and Navigation competency
The Knowledge, skills, and abilities needed to navigate he organization and accomplish HR goals, to create a compelling vision and mission for HR that aligns with the strategic direction and culture of the organization, to lead and promote organizational change, to manage the implementation and execution of HR initiatives and to promote the role of HR as a Key business partner. Expertise in leadership and navigation enables HR professionals to keep the organization focused on its goals.
Validity
The ability of a test to measure what it is intended to measure
HR Expertise (HR Knowledge)
The knowledge of principles, practices, and functions of effective human resource management.
affiliative leader
The leader creates strong relationships with and inside the team, encouraging feedback. The team members are motivated by loyalty. *Effective at all times but especially when a leader has inherited a dysfunctional and dispirited team that needs to be transformed.
democratic leader
The leader invites followers to collaborate and commits to acting by consensus *Effective when the leader does not have a clear vision or anticipates strong resistance to a change. Team members must be competent and leaders must have strong communication skills.
authoritative leader
The leader proposes a bold vision and solution and invites the team to join in the challenge. *Effective at times when there is no clear path forward and when the proposal is compelling and captures the teams imagination.
pacesetting leader
The leader sets. model for high performance standards and challenges followers to meet these expectations. *Effective when teams are composed of highly competent and internally motivated employees.
Forum or Jurisdiction Shopping
The practice of taking complaints to jurisdictions sympathetic to the complainant's case. This occurs when plantiffs seek to bring their suit in a jurisdiction more likely to be sympathetic to their claims.
budgeting process
The process for allocating financial resources, planning forecasts, and measuring expected quantitative and qualitative outcomes of a firm. 1) Incremental budgeting (line-item budgeting)- The previous year's budget is the starting point for the next years budget, and programs and function leaders are told that they may increase it or need to decrease it by a certain percentage. This process is less time consuming. 2) Zero-based budgeting: The previous year's budget is Zeroed out and no funding commitment for the coming year is assumed. The budget for every item must be proposed anew. The process can be time intensive at first but becomes more efficient with experience. 3)Activity based budgeting: The cost factors for specific activities are identified and used to estimate funding requirements. once the function has accumulated historical information about cost factors, estimates can be more precise. This gives leaders more control over spending decisions. 4) Formula based budgeting: The total amount of a functions budget is apportioned to departments or activities according to defined percentages,
Value Chain
The set of activities through which a product or service is created and delivered to customers.
Coaching leader
The type of leader who focuses on helping individual team members develop and grow through training and constant feedback * Effective when leaders are highly skilled in strategic management, communication, and motivation and when they can mange their time to include coaching as a primary activity. Team members must also be receptive to coaching.
Blake-Mouton Theory
Two dimensions: Task and Employee (consideration) - Five types of Managers: -Country Club managers (Low Task, High Relationship): creates a secure atmosphere and trust individuals to accomplish goals and avoids punitive actions so as not to jeopardize relationships. - Impoverished managers (Low Task, Low Relationship): use a delegate and disappear management style. They detach themselves often creating power struggle. -Authoritarian (High Task, Low Relationship) - Middle of the Road (midpoint on both task and relationship) get the work done but are not considered leaders. - Team Leader (High Task, High Relationship) lead by positive example, foster a team environment and encourage individual and team development.
Query and Reporting Capabilities
Users can access the data they need and use Stand alone or integrated (ERP) business application software to sort , describe and analyze in myriad ways and to create report graphics such as bar and pie chart.
Facilitating Change
When planning and implementing change, organizations often rely on one of the following approaches: 1) cascade: top-down sequence with complete change at all levels 2) Progressive: the change originates at the top and is broadcast to the entire organization. 3) Organic : relies on independent centers and multiple origins of the change within the organization. points of origin can be at any level.
J-curve
a growth curve that depicts exponential growth
emotional intelligence quotient
a measure of a person's ability to manage emotions in leadership and social relationships. Developed by Daniel Goleman. He describes five components: !)self awareness 2) self regulation 3) Motivation 4) Empathy 5)Social Skills/ Social Intelligence- The ability to build rapport with others
Networking
a process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations
Common Law
a system of law based on precedent and customs
conflict of laws
an inconsistency between the laws of different states arising from a legal action that involves the territory of more than one jurisdiction. Occurs when the laws of two or more jurisdiction with ties to a lawsuit differ and in which the outcome of the case may depend on which jurisdiction's laws are applied.
coercive leader
demands instantaneous obedience and focuses on achievement, initiative, and self-control The leader imposes a vision and solution on the team and demands that the team follow this directive. *Effective during crisis when immediate and clear action is required.
Motivation
factors that initiate, direct, or sustain behavior
advanced analytics
focuses on forecasting future trends and producing insights using sophisticated quantitative methods, including statistics, descriptive and predictive data mining, simulation, and optimization. It uses historical and current data to get a better sense of the future and even to shape the future.
Due Process
following established legal procedures
codes of conduct
formalized rules and standards that describe what a company expects of its employees
Equity
is combined with liability on the balance sheet because it represents what a company owes its owners or shareholders. Equity is what is left of a company's assets after its liabilities have been discharged/paid. Stockholder equity is the value of all stocks held by investors.. It is also profit that has not been distributed to investors as dividends but have been retained by the company probably for reinvestment to grow the company.
emotional intelligence
is the quality of being sensitive to and understanding of one's own and others emotions and the ability to manage ones own emotions and impulses. It enables people with different backgrounds and perspectives to work productively with one another. Peter Salovey and John D. Mayer define four branches of emotional intelligence: 1)Perceiving emotions: identifying and evaluating emotions of oneself and that of others. 2)Using emotions to facilitate thoughts: capitalizing on feelings to promote and inform decision making, problem solving and other cognitive activities. 3)Understanding emotions 4)Regulating emotions.
Religious Law
law based on religious beliefs and conventions
Artifacts
object made by members of a culture that convey a sense of that culture's priorities and values, beliefs, habits, rituals or perspectives. (such as physical workplace that suggest characteristics of organizational culture, virtual environment)
Situational Theories
propose that leaders will demonstrate a particular style of leadership depending on the given situation
value
refers to an organization's success in meeting its strategic goals.
Financial Ratios
relationships determined from a firm's financial information and used for comparison purposes. It compares two values and is used to analyze an organization's performance, 1) Current ratio- indicates the level of working capital. Creditors prefer a higher current ration = current asset/current liabilities. 2)Debt to income ratio = total liabilities/total assets. 3)Debt to Equity Ratio- reflects how the company is funding its growth = Total debt/ shareholders equity. 4) Account Receivable Turnover = Net Credit Sales/ Average Account receivable. 5) Gross Margin = Total Sales- Cost of Goods Sold/ Total Sales 6) Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin = EBIT/Total Sales 7)Profit Margin = Total Sales- Total Costs/Total Sales 8) Return on Investment = Gain from Investment- Cost of Investment/Cost of Investment. 9) Earnings per share (EPS) = Net Income/Number of outstanding share. 10) Price to Earnings (PIE) = Stock price per share/ Earning per share.
Assets
resources owned by a business. Tangible assets: cash, cash equivalent, inventory of finished products or materials, property and equipment). Intangible Assets: copyrights and patents, proprietary knowledge. Assets also includes: - investments that the company has made such as the purchase of income bearing instruments and - what is owed to the company (e.g unpaid invoices/account receivable).
Communication Model
sender, message, receiver, feedback
Leadership
the ability to motivate individuals and groups to accomplish important goals, the ability to see opportunities and problems to envision a different future and design a path towards it, to rally necessary support within the organization and to manage initiatives that create measurable and sustainable benefits.
cultural intelligence
the ability to understand and respond appropriately to different cultural contexts and situations
Data Warehousing
the collection, storage, and retrieval of data in electronic files such as the enterprise resource planning (ERP) system.
Reliability
the extent to which a test yields consistent results, as assessed by the consistency of scores on two halves of the test, on alternate forms of the test, or on retesting
data gathering
the process of collecting data
Porter's Five Forces
threat of entry threat of substitution supplier power buyer power- competitive rivalry- rivalry among competitiors
