Human Resource Management and Online Business Concepts

These flashcards cover key concepts from Human Resource Management and Online Business topics, focusing on definitions and critical terms.

The three primary aspects of HRM are __, __, and __.

recruitment, development, retention

Internal recruitment involves __, __, and __.

promotions, transfers, internal job postings

The typical steps in the hiring process include job analysis and __, posting and sourcing candidates, __, interviews and __.

description, screening applications, assessments

On-the-job training is defined as __ while performing tasks.

learning

A performance appraisal is a formal evaluation of an employee’s __ performance.

job

Direct pay includes and hourly wages; incentives include and commissions.

salaries, bonuses

Contingent workers are __ or part-time employees.

temporary

Diversity in the workplace encourages and and improves problem-solving capabilities.

innovation, creativity

A labor union represents workers in negotiations for __, benefits, and __.

wages, working conditions

Online business refers to any commercial activity conducted over the __.

internet

Viral marketing is a strategy that encourages people to __ a company’s message rapidly, often through social media.

share

One way online business impacts growth is through __ reach, providing access to customers worldwide.

global

Security issues in online business include data __, phishing, and risks with __.

breaches, payment security

Social media impacts online business by allowing firms to market products, build __, and provide __.

brand awareness, customer service

Investing in technology and __ helps firms support increased production.

automation

The two main types of financing are financing, which must be repaid, and financing, which involves selling ownership shares.

debt, equity

The accounting equation is = + __.

Assets, Liabilities, Owner’s Equity

Cash inflows are money coming into the business while cash __ are money going out.

outflows

Brand loyalty refers to the consistent and repeated of a specific brand by a customer.

preference, purchase

Product differentiation is the strategy of making a product or service stand out through __, quality, or branding.

features

Cost-based pricing sets prices based on the costs of __, distributing, and selling the product.

producing

A balance sheet provides a snapshot of what a company owns () and what it owes ().

assets, liabilities