Exam (elaborations)
SHRM CP Exam Study Guide- with questions & complete solutions
- Course
- Institution
SHRM CP Exam Study Guide- with questions & complete solutions
[Show more]
Seller
Follow
Content preview
SHRM CP Exam Study Guide- withquestions & complete solutions
Organizational culture - ✔The basic beliefs and customs shared by members of
an organization that contribute to an organization's sense of its identity.
Income statement - ✔Statement that reports revenues, expenses, and net income (profit)
for a specified period.
Lagging indicator - ✔Type of metric that describes an activity that has already occurred.
Leading indicator - ✔Type of metric that describes an activity that can change
future performance and indicate higher degree of success in achieving strategic goals.
Liabilities - ✔Organization's debts and other financial obligations.
Due diligence - ✔Necessary level of care and attention that is taken to investigate an
action before it is taken.
Environmental scanning - ✔Process that involves a systematic survey and interpretation of
relevant data to identify external opportunities and threats and to assess how these factors
affect the organization currently and how they are likely to affect the organization in the future.
Equity - ✔Amount of owners' or shareholders' portion of a business.
Gross profit margin - ✔Ratio of gross profit to net sales.
,Benchmarking - ✔Process that compares performance levels and/or processes of one entity
with those of another to identify performance gaps and set goals aimed at improving
performance.
Blue ocean strategies - ✔Strategies that generate competitive advantage by creating a
new marketplace arena in which there are no other competitors.
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.
Cash flow statement - ✔Statement the shows incoming and outgoing cash in the areas of
operations, investments, and financing and remaining cash reserves; reflects an organization's
ability to meet its current and short-term obligations.
Accounts payable - ✔Money an organization owed its vendors and suppliers.
Accounts receivable - ✔Money an organization's customers owe the organization.
Assets - ✔Financial, physical, and sometimes intangible properties an organization owns.
Balance sheet - ✔Statement that reports the financial position of the organization at a
specific point in time; shows assets, liabilities, and shareholder equity.
Vicarious liability - ✔Legal doctrine under which a party can be held liable for the
wrongful actions of another party.
Weingarten rights - ✔Union employees' right in U.S. to have a union representative
or coworker present during an investigatory interview.
,Worker Adjustment and Retraining Notification (WARN) Act - ✔U.S. act that requires some
employers to give a minimum of 60 days' notice if a plant is to close or is mass layoffs will occur.
Workweek - ✔Any fixed, recurring period of 168 consecutive hours (7 days time 24 hours
= 168 hrs)
Uniform Guidelines on Employee Selection Procedures - ✔Procedural document designed
to assist employers in complying with federal regulations prohibiting discrimination.
Uniformed Services Employment and Reemployment Rights Act (USERRA) - ✔U.S. act that
protects the employment reemployment, and retention rights of persons who serve or have
served in the uniformed services.
Vesting - ✔Process by which a retirement benefit becomes nonforfeitable.
Veto - ✔Action of rejecting a bill or statute.
Stakeholders - ✔All those affected by an organization's social, environmental, and
economic impact shareholders, employees, customers, suppliers, regulators, and local
communities.
Sustainability - ✔Practices that balance economic, social, and environmental interests
to secure the interests of present and future generations.
Totaization agreements - ✔Bilateral agreements entered into by many countries to
eliminate double taxation for individuals on international assignments.
Triple bottom line - ✔Economic, social, and environmental impact metrics used to
determine an organization's success.
, Risk management - ✔Identification, evaluation, and control of risk that may affect
an organization, typically incorporating the use of insurance and other strategies.
Risk position - ✔An organization's desired gain or acceptable loss in value.
Risk scorecard - ✔Tool used to gather individual assessments of various characteristics of
risk (e.g. frequency of occurrence, degree of impact/loss/gain for the organization, degree of
efficacy of current controls).
Risk tolerance - ✔Amount of uncertainty an organization is willing to pursue or to accept
to attain its risk management.
Reverse innovation - ✔Innovations created for or by emerging-economy markets and
then imported to developed-economy markets.
Risk - ✔The effect of uncertainty or objectives; outcomes may include opportunities
or threats.
Risk appetite - ✔Amount of risk the organization or function is willing to pursue or accept
to attain its goals.
Risk control - ✔An action taken to manage a risk.
Redeployment - ✔Process by which an organization moves an employee out of an
international assignment; can involve moving back to the home country, moving to a different
global location, or moving to a new location or position in the current host country.
Regulation - ✔A rule or order issues by an administrative agency; often has the force of law.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller KenAli. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
84866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now