List of Key Words for Domain Knowledge Game for 08.10.

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Balanced Scorecard: A comprehensive management control system that balances traditional financial measures with operational measures relating to a companys critical success factors Benchmarking: The process of continually measuring products, services and practices against tough competitors or other organisations recognised as industry leaders Competitive Advantage: What sets the organisation apart from others and provides it with a distinctive edge for meeting customer or client needs in the market place Consortia: Groups of independent companies (Suppliers, customers, and possibly competitors) that join together to share skills, resources, costs and access to one anothers markets Cooptation: Occurs when leaders from important sectors in the environment are made part of an organisation and thus are more engaged in that organisations interest Corporate Social Responsibility: The concept of managements obligation to make choices and take action so that the organisation contributes to the welfare and interest of all organisational stakeholders Customer Relationship Management: Systems that help companies track customers interactions with the firm and allow employees to call up a customers past sales and service records, outstanding orders or unresolved problems Superannuation: A type of retirement plan set up by a company for the benefit of its employees. These types of plans use funds deposited by the company (defined benefit plan) or by the employee (defined contribution plan), with the funds growing in value until the employee retires. Supersession: Act of replacing one person by another especially one held to be superior. Defined Benefit Plan: A company retirement plan, such as a pension plan, in which a retired employee receives a specific amount based on salary history and years of service, and in which the employer bears the investment risk. Contributions may be made by the employee, the employer, or both. Defined Contribution Plan: A company retirement plan, in which the employee elects to defer some amount of his/her salary into the plan and bears the investment risk.

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Downsizing: Intentionally reducing the size of a companys workforce by laying off employees Enterprise Resource Planning: A system that collects, processes and provides information about a companys entire enterprise Escalating Commitment: Persisting to invest time and money in a solution despite strong evidence that it is not working Garbage Can Model: Decision making model that describes the pattern or flow of multiple decisions within an organisation Carnegie Model: Organisation decision making that involves many managers making a final Ethical Dilemma: The result of when each alternative choice or behaviour seems undesirable because of a potentially negative ethical consequence Ethics: The code of moral principles and values that governs the behaviours of a person or group with respect to what is right or wrong Moral Values: Values based on the principles of morality Fringe Benefits: Benefits derived by the employee while working in the corporate organization. This includes both financial and non-financial benefits Key Result Areas (KRA): It is used in the performance appraisal form identifying key result areas and fixing up the quantum-norms to be performed within the stipulated timeframe. Cost to the Company (CTC): It is the expenditure to the company spent directly on employee excluding cost of infrastructure like space, desktop computers, airconditioning, cost on training, but includes contribution to provident fund, pension fund, medical Insurance premium, cost to the loan, telephone expenses, transport etc. Bonus: Exgratia Payment over and above the normal salary, but as per the provision of the legislation Skill based pay: Payment based on the levels of variation of skills Job based pay: Payment based on categories of jobs performed Wage board: It is a body which recommends wage fixation. It could be statutory or non-statutory Living wage: A wage that provides not only for survival but also survival for a standard of living of decency. Fair wage: A wage with provision for adjustment with capacity to pay 2|Page

Broadband Pay: It is a pay structure that leads to the consolidation of existing pay grades into fewer but broader bands with relatively wide salary ranges. Assessment Centre: It is one of the tool now used by the employers for selecting prospective candidates for the job. Apart from the selection process, assessment centres help in the job analysis of the employees. Deferred Compensation: It is an arrangement whereby an employee or owner defers some portion of employees current income until a specified future date. High-Leverage Training: Uses an instructional design process to ensure that training is effective. It compares or benchmarks the companys training programs against training programs in other companies. Instructional System Design (ISD): Refers to a process for designing and developing training programs which is usually systematic, and flexible enough to adapt to business needs. Explicit Knowledge: communicated Knowledge that can be formalized, codified, and

Tacit Knowledge: Personal knowledge based on individual experience and difficult to explain to others Competency: A competency refers to areas of personal capability that enable employees to successfully perform their jobs by achieving outcomes or successfully performing tasks. Transfer of Training: Transfer of training refers to trainees effectively and continually applying what they learned in training on their jobs which is influenced by trainee characteristics and training design. Self Management in Training: Self-management refers to a persons attempt to control certain aspects of decision making and behaviour which determines the degree of support and negative consequences in the work setting for using newly acquired skills. Learning Organization: A learning organization is a company that has an enhanced capacity to learn, adapt, and change. Formative evaluation: Formative evaluation conducted to improve the training process. Summative evaluation: Summative evaluation conducted to determine the extent to which trainees have changed as a result of participating in the training program. Return on Investment: Comprises the trainings monetary benefits with the cost of the training which includes direct costs, indirect costs and benefits. 3|Page

Criteria relevance in training evaluation: The extent to which training programs are related to learned capabilities emphasized in the training program. Criterion contamination in training evaluation: Extent that training outcomes measure inappropriate capabilities or are affected by extraneous conditions. Criterion deficiency in training evaluation: Failure to measure training outcomes that were emphasized in the training objectives. Panel: Group of people with certain qualifications, selected for a specific purpose and limited time, and usually disbanded thereafter. On-the-job training (OJT): Refers to new or inexperienced employees learning through observing peers or managers performing the job and trying to imitate their behaviour. Apprenticeship: Method in which trainees learn a craft or trade by hands-on experience while working with a skilled worker, usually under a written or implied indenture-ship agreement. Simulations: The use of a mathematical model to recreate a situation, often repeatedly, so that the likelihood of various outcomes can be more accurately estimated. Collective Bargaining: The negotiation of an agreement between management and workers Prima-facie case: A case in which the evidence presented is sufficient for a judgment to be made unless the evidence is contested. Principle of natural justice: The principle of natural justice forms the root of judicial process. The basic rule is that no person should be condemned or held guilty unheard or an opportunity should be given for being heard. Domestic Inquiry: A domestic inquiry is an internal hearing held by an employer to

ascertain whether an employee is guilty of misconduct. The purpose of a domestic inquiry is to find out the truth of the allegations made against the workman.
Industrial Dispute: According to the Industrial Dispute Act, 1947, Industrial disputes are organised protests against existing terms of employment or conditions of work. Standing Orders: Standing orders define and regulate terms and conditions of employment and bring about uniformity among employee and employer. They also specify the duties and responsibilities of both employers and employees thereby regulating standards of their behaviour. Conciliation: Conciliation refers to the process by which representatives of employees and employers are brought together before a third party with a view 4|Page

to discuss, reconcile their differences and arrive at an agreement through mutual consent. Arbitration: A process in which a neutral third party listens to the disputing parties, gathers information about the dispute, and then takes a decision which is binding on both the parties. Adjudication: Adjudication is the ultimate legal remedy for settlement of Industrial Dispute. Adjudication means intervention of a legal authority appointed by the government to make a settlement which is binding on both the parties. Grievance: A Grievance is simply a complaint that has been ignored, overridden, or dismissed without due consideration. A grievance in the context of business organization is always expressed wither verbally or written. Complaint: Complaint is a spoken or written dissatisfaction brought to the attention of the supervisor and the shop steward.

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