Globalization - answer-Status of growing interconnectedness and interdependency among countries, people, markets, and organizations worldwide.
Offshoring - answer-Method by which an organization relocates its processes or production to an international location through subsidiaries or third-part...
SHRM-CP 2025:
Workplace
Globalization - answer-Status of growing interconnectedness and interdependency
among countries, people, markets, and organizations worldwide.
Offshoring - answer-Method by which an organization relocates its processes or
production to an international location through subsidiaries or third-party affiliates.
Onshoring - answer-Relocation of business processes or production to a lower-cost
location inside the same country as the business.
Outsourcing - answer-Process by which an organization contracts with third-party
vendors to provide selected services/activities instead of hiring new employees.
Process alignment - answer-Extent to which underlying operations such as IT,
finance, or HR integrate across locations.
Near-shoring - answer-Practice of contracting a part of business processes or
production to an external company in a country that is relatively close (for example,
within the same own region).
Multinational enterprises (mnes) - answer-Organizations that own or control
production or service facilities in one or more countries other than the home
country.
Assignees - answer-Employees who work outside their home countries.
Identity alignment - answer-Extent to which diversity is embraced in management
of people, products/services, and branding.
Global integration (GI) - answer-Globalization strategy that emphasizes consistency
of approach, standardization of processes, and a common corporate culture across
global operations.
Repatriation - answer-Process by which employees returning from international
assignments reintegrate into their home country's culture, conditions, and
employment.
Local responsiveness (LR) - answer-Globalization strategy that emphasizes adapting
to the needs of local markets and allows subsidiaries to develop unique products,
structures, and systems.
Redeployment - answer-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.
Risk management - answer-System for identifying, evaluating, and controlling
actual and potential risks to an organization.
Risk - answer-Uncertainty that has an effect on an objective, where outcomes may
include opportunities, losses, and threats.
Single loss expectancy (SLE) - answer-Expected monetary loss every time a risk
occurs; calculated by multiplying asset value by exposure factor.
Risk scorecard - answer-Tool used to gather individual assessments of various
characteristics of risk (for example, frequency of occurrence; degree of impact, loss,
or gain for the organization; degree of efficacy of current controls).
Principal-agent problem - answer-Situation in which an agent (for example, an
employee) makes decisions for a principal (for example, an employer) potentially on
the basis of personal incentives that may not be aligned with the principal's
incentives.
Risk control - answer-Action taken to manage a risk.
Risk position - answer-Organization's desired gain or acceptable loss in value.
Risk appetite - answer-A high-level characterization of the amount of uncertainty
(acceptable risk) an organization is willing to pursue or to accept to attain its risk
management goals.
Contingency plan - answer-Protocol that an organization implements when an
identified risk event occurs.
Key risk indicators (kris) - answer-Metrics that provide an early signal of increasing
risk exposures for an enterprise.
Moral hazard - answer-Situation in which one party engages in risky behavior
knowing that it is protected against the risk because another party will incur any
resulting loss.
Annualized loss expectancy (ALE) - answer-Expected monetary loss for an asset due
to a risk over a one-year period; calculated by multiplying single loss expectancy by
annualized rate of occurrence.
Whistleblowing - answer-Reporting of an organization's violations of policies and
processes by employees.
Residual risk - answer-Amount of uncertainty that remains after all risk
management efforts have been exhausted.
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