PHR - Business Management

Vision

The vision looks to the future and paints the picture of how it will grow, develop and change overtime.

Acceptance

Aware of Risk and the organization still moves forward.

Goals

Achieving a specific thing in a time span.

Community Partnerships

Civic - Gov Leaders, Law Enforcement Business - Chamber of commerce, business coalition Nonprofit - Charity Organizations

Values

How a company wo;; perform its mission and achieve its vision.

Information Technology

Responsible for the technology infrastructure, this includes hardware, software, development and maintenance of technology.

Elements of Corporate Governance (Six)

1. Board composition and election of officers 2. Corporate responsibility statements and ethics 3. Conflicts of interest policies and procedures 4. Internal and External auditing practices 5. Financial disclosure documents 6. Whistle blower protection

Communication Skills and Strategies

1. Collaboration 2. Presentation Styles 3. Sensitivity 4. Language Barriers 5. Speaking Style

organizational structure

1. Hierarchy Method 2. Matrix

Change Management Theories

1. Kotter's Theory 2. Lewin's Change Managment Model 3. Nudge Theory All have simi8alrites that show: -Need of change and a desired end state - Organization must prepare for change - Organization must implement change (Report on how change was effective) - Organization reaches a new stasis after fully accepting change

Six Ethical and Professional Responsibilities of HR

1. Professional Responsibility 2. Professional Development 3. Ethical Leadership 4. Fairness and justice 5. Conflicts of Interests 6. Use of Information

Promotion

Expand job duties with salary bonus. Advance an employee earns by being productive, cooperation, dependable, and highly skilled.

Lewin's Change Management Model

3 Step Plan: Step 1: Unfreeze. Lewin identifies human behavior, with respect to change, as a quasi-stationary equilibrium state. Step 2: Change. Once you've "unfrozen" the status quo, you may begin to implement your change. Step 3: Refreeze.

Kotter's Theory

8 Step Plan: Create A Sense of Urgency. Inspire people to act - with passion and purpose - to achieve a bold, aspirational opportunity. Build A Guiding Coalition. Form A Strategic Vision. Enlist A Volunteer Army. Enable Action By Removing Barriers. Generate Short-Term Wins. Sustain Acceleration. Institute Change.

Mission

A Mission is expressed in a short sentence describing the company's existence. (Accomplishes the Why?)

Matrix

Shown as a series of equal groups, all groups share responsibilities for executing the orgs mission. Info is able to flow up and down as we;; as across.

Incentives

A reward when goal is achieved. a positive or negative environmental stimulus that motivates behavior

Quantitative Method

Answers how much of how many

Qualitative Method

Answers how well are we doing

Procurement

Buyers who search for vendors, maintains inventory control and negotiates prices.

Operations

Delivers the product or service to the consumer. Also tracks the production, quality, conversion rates, materials and any resources used in producing good or service.

Marketing

Determines what consumers need and helps create a plan to reach consumers. Also evaluates public demands, help determine price point and promotional material.

Business Elements

Functional areas of a company Includes: Operations, Sales, Marketing, Finance, Information Technology and Procurement.

External Sources

General Business Environment Economic Outlook Industry Practices Labor Market Technology Changes Legal and regulatory environment

Sales

Identifies, attracts and retains customers. Also forecasts demand.

Internal Sources

Information Technology Marketing Finance and accounting Business Development Operations Sales

Nudge Theory

Is based upon the idea that by shaping the environment, also known as the choice architecture, one can influence the likelihood that one option is chosen over another by individuals. 3 Key areas: 1. Not Economic Incentivized. Try to take money off the table. 2. Human-Centered. Put the person first and try to make their lives better. 3. Voluntary.

US Federal Regulatory Process

Proposed Rule > Public Comment Period > Final Rule Issued > Date to Implement

Mitigation

Organization seeks way to reduce risk, impossible to reduce all risk.

Avoiding Risk

Organizations selects to not pursue a goal because risk is too great and cannot be resolved

Finance

Plans and creates the execution of budgets, accounting and auditing of all resources of an organization.

Rewards and Recognition

Provides money when desired behavior is met. Financial Rewards: - wages - salary - superannuation - performance-related pay Non-financial Rewards: - promotion - career development - travel, entertainment vouchers or film tickets - recognition

Motivational Techniques

Rewards and Recognition Incentives Promotion Goals

Transferring Risk

Risk is moved from one organization to another. (Example is Insurance)

Corportate Responsibility

Self control regulating mechanism by which businesses operate Consider: Law, ethics and social impact.

Sarbanes-Oxley Act of 2002

Set the standards for corporate governance, oversight, auditing independence and enhanced financial disclosure. Enacted in 2002 after several corporate and accounting scandals.

Hierarchy method

Structure that resembles a period, chief decision maker is often the CEO and is responsible for Orgs actions, below are teams of employees. Info is shared up and down with little contact across.

VUCA

volatile, uncertain, complex, ambiguous