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What is DELPHI METHOD? What does DELPHI METHOD mean? DELPHI METHOD meaning - DELPHI METHOD definition - DELPHI METHOD explanation.

Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.

The Delphi method is a structured communication technique or method, originally developed as a systematic, interactive forecasting method which relies on a panel of experts. The experts answer questionnaires in two or more rounds. After each round, a facilitator or change agent provides an anonymous summary of the experts’ forecasts from the previous round as well as the reasons they provided for their judgments. Thus, experts are encouraged to revise their earlier answers in light of the replies of other members of their panel. It is believed that during this process the range of the answers will decrease and the group will converge towards the "correct" answer. Finally, the process is stopped after a predefined stop criterion (e.g. number of rounds, achievement of consensus, stability of results) and the mean or median scores of the final rounds determine the results.
Delphi is based on the principle that forecasts (or decisions) from a structured group of individuals are more accurate than those from unstructured groups. The technique can also be adapted for use in face-to-face meetings, and is then called mini-Delphi or Estimate-Talk-Estimate (ETE). Delphi has been widely used for business forecasting and has certain advantages over another structured forecasting approach, prediction markets.

The name "Delphi" derives from the Oracle of Delphi, although the authors of the method were unhappy with the oracular connotation of the name, "smacking a little of the occult".  The Delphi method is based on the assumption that group judgments are more valid than individual judgments.
The Delphi method was developed at the beginning of the Cold War to forecast the impact of technology on warfare. In 1944, General Henry H. Arnold ordered the creation of the report for the U.S. Army Air Corps on the future technological capabilities that might be used by the military.
Different approaches were tried, but the shortcomings of traditional forecasting methods, such as theoretical approach, quantitative models or trend extrapolation, quickly became apparent in areas where precise scientific laws have not been established yet. To combat these shortcomings, the Delphi method was developed by Project RAND during the 1950-1960s (1959) by Olaf Helmer, Norman Dalkey, and Nicholas Rescher. It has been used ever since, together with various modifications and reformulations, such as the Imen-Delphi procedure.
Experts were asked to give their opinion on the probability, frequency, and intensity of possible enemy attacks. Other experts could anonymously give feedback. This process was repeated several times until a consensus emerged.

The following key characteristics of the Delphi method help the participants to focus on the issues at hand and separate Delphi from other methodologies: in this technique a panel of experts is drawn from both inside and outside the organisation. The panel consist of experts having knowledge of the area requiring decision making. Each expert is asked to make anonymous predictions.

What is DELPHI METHOD? What does DELPHI METHOD mean? DELPHI METHOD meaning, definition & explanation

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What is HUMAN RESOURCE MANAGEMENT? What does HUMAN RESOURCE MANAGEMENT mean? HUMAN RESOURCE MANAGEMENT meaning - HUMAN RESOURCE MANAGEMENT definition - HUMAN RESOURCE MANAGEMENT explanation.

Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.

Human resource management (HRM or simply HR) is the management of human resources. It is designed to maximize employee performance in service of an employer's strategic objectives. HR is primarily concerned with the management of people within organizations, focusing on policies and on systems. HR departments are responsible for overseeing employee benefits design, employee recruitment, training and development, performance appraisal, and rewarding (e.g., managing pay and benefit systems). HR also concerns itself with organizational change and industrial relations, that is, the balancing of organizational practices with requirements arising from collective bargaining and from governmental laws.

HR is a product of the human relations movement of the early 20th century, when researchers began documenting ways of creating business value through the strategic management of the workforce. It was initially dominated by transactional work, such as payroll and benefits administration, but due to globalization, company consolidation, technological advances, and further research, HR as of 2015 focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion.

Human Resources is a business field focused on maximizing employee productivity. Human Resources professionals manage the human capital of an organization and focus on implementing policies and processes. They can be specialists focusing in on recruiting, training, employee relations or benefits. Recruiting specialists are in charge of finding and hiring top talent. Training and development professionals ensure that employees are trained and have continuous development. This is done through training programs, performance evaluations and reward programs. Employee relations deals with concerns of employees when policies are broken, such as harassment or discrimination. Someone in benefits develops compensation structures, family leave programs, discounts and other benefits that employees can get. On the other side of the field are Human Resources Generalists or Business Partners. These human resources professionals could work in all areas or be labor relations representatives working with unionized employees.

In startup companies, trained professionals may perform HR duties. In larger companies, an entire functional group is typically dedicated to the discipline, with staff specializing in various HR tasks and functional leadership engaging in strategic decision-making across the business. To train practitioners for the profession, institutions of higher education, professional associations, and companies themselves have established programs of study dedicated explicitly to the duties of the function. Academic and practitioner organizations may produce field-specific publications. HR is also a field of research study that is popular within the fields of management and industrial/organizational psychology, with research articles appearing in a number of academic journals, including those mentioned later in this article.

Businesses are moving globally and forming more diverse teams. It is the role of human resources to make sure that these teams can function and people are able to communicate cross culturally and across borders.

What is HUMAN RESOURCE MANAGEMENT? What does HUMAN RESOURCE MANAGEMENT mean?

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What is HUMIDITY? What does HUMIDITY mean? HUMIDITY meaning - How to pronounce HUMIDITY?

Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.

Humidity is the amount of water vapor in the air. Water vapor is the gaseous state of water and is invisible. Humidity indicates the likelihood of precipitation, dew, or fog. Higher humidity reduces the effectiveness of sweating in cooling the body by reducing the rate of evaporation of moisture from the skin. This effect is calculated in a heat index table or humidex. The amount of water vapor that is needed to achieve saturation increases as the temperature increases. As the temperature of a parcel of air becomes lower it will eventually reach the point of saturation without adding or losing water mass. The differences in the amount of water vapor in a parcel of air can be quite large, for example; A parcel of air that is near saturation may contain 28 grams of water per cubic meter of air at 30 °C, but only 8 grams of water per cubic meter of air at 8 °C

There are three main measurements of humidity: absolute, relative and specific. Absolute humidity is the water content of air at a given temperature expressed in gram per cubic meter. Relative humidity, expressed as a percent, measures the current absolute humidity relative to the maximum (highest point) for that temperature. Specific humidity is a ratio of the water vapor content of the mixture to the total air content on a mass basis.

What is HUMIDITY? What does HUMIDITY mean? HUMIDITY meaning - How to pronounce HUMIDITY?

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What is HYSTERESIS? What does HYSTERESIS mean? HYSTERESIS meaning - HYSTERESIS pronunciation - HYSTERESIS definition - HYSTERESIS explanation - How to pronounce HYSTERESIS?

Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.

Hysteresis is the time-based dependence of a system's output on present and past inputs. The dependence arises because the history affects the value of an internal state. To predict its future outputs, either its internal state or its history must be known. If a given input alternately increases and decreases, a typical mark of hysteresis is that the output forms a loop as in the figure.

Such loops may occur purely because of a dynamic lag between input and output. This effect disappears as the input changes more slowly. This effect meets the description of hysteresis given above, but is often referred to as rate-dependent hysteresis to distinguish it from hysteresis with a more durable memory effect.

Hysteresis occurs in ferromagnetic materials and ferroelectric materials, as well as in the deformation of some materials (such as rubber bands and shape-memory alloys) in response to a varying force. In natural systems hysteresis is often associated with irreversible thermodynamic change. Many artificial systems are designed to have hysteresis: for example, in thermostats and Schmitt triggers, the principle of hysteresis is applied to avoid unwanted frequent switching. Hysteresis has been identified in many other fields, including economics and biology.

Some early work on describing hysteresis in mechanical systems was performed by James Clerk Maxwell. Subsequently, hysteretic models have received significant attention in the works of Ferenc Preisach (Preisach model of hysteresis), Louis Néel and D. H. Everett in connection with magnetism and absorption. A more formal mathematical theory of systems with hysteresis was developed in the 1970s by a group of Russian mathematicians led by Mark Krasnosel'skii. He suggested an investigation of hysteresis phenomena using the theory of nonlinear operators.

What is HYSTERESIS? What does HYSTERESIS mean? HYSTERESIS meaning, definition & explanation

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What is INTEGRITY?What does INTEGRITY mean? INTEGRITY meaning -INTEGRITY pronunciation - INTEGRITY definition - INTEGRITY explanation - How to pronounce INTEGRITY?

Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.

Integrity is the quality of being honest and having strong moral principles; moral uprightness. It is generally a personal choice to uphold oneself to consistent moral and ethical standards.

In ethics, integrity is regarded by many people as the honesty and truthfulness or accuracy of one's actions. Integrity can stand in opposition to hypocrisy, in that judging with the standards of integrity involves regarding internal consistency as a virtue, and suggests that parties holding within themselves apparently conflicting values should account for the discrepancy or alter their beliefs. The word integrity evolved from the Latin adjective integer, meaning whole or complete. In this context, integrity is the inner sense of "wholeness" deriving from qualities such as honesty and consistency of character. As such, one may judge that others "have integrity" to the extent that they act according to the values, beliefs and principles they claim to hold.

Significant attention is given to the subject of integrity in law and the conception of law in 20th century philosophy of law and jurisprudence centering in part on the research of Ronald Dworkin as studied in his book Law's Empire. Dworkin's position on integrity in law reinforces the conception of justice viewed as fairness.

A value system's abstraction depth and range of applicable interaction may also function as significant factors in identifying integrity due to their congruence or lack of congruence with observation. A value system may evolve in a while, while retaining integrity if those who espouse the values account for and resolve inconsistencies.

What is INTEGRITY? What does INTEGRITY mean? INTEGRITY meaning, definition & explanation

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What is INTERNAL AUDIT? What does INTERNAL AUDIT mean? INTERNAL AUDIT meaning - INTERNAL AUDIT definition - INTERNAL AUDIT explanation.

Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Internal auditing is a catalyst for improving an organization's governance, risk management and management controls by providing insight and recommendations based on analyses and assessments of data and business processes. With commitment to integrity and accountability, internal auditing provides value to governing bodies and senior management as an objective source of independent advice. Professionals called internal auditors are employed by organizations to perform the internal auditing activity.

The scope of internal auditing within an organization is broad and may involve topics such as an organization's governance, risk management and management controls over: efficiency/effectiveness of operations (including safeguarding of assets), the reliability of financial and management reporting, and compliance with laws and regulations. Internal auditing may also involve conducting proactive fraud audits to identify potentially fraudulent acts; participating in fraud investigations under the direction of fraud investigation professionals, and conducting post investigation fraud audits to identify control breakdowns and establish financial loss.

Internal auditors are not responsible for the execution of company activities; they advise management and the Board of Directors (or similar oversight body) regarding how to better execute their responsibilities. As a result of their broad scope of involvement, internal auditors may have a variety of higher educational and professional backgrounds.

The Institute of Internal Auditors (IIA) is the recognized international standard setting body for the internal audit profession and awards the Certified Internal Auditor designation internationally through rigorous written examination. Other designations are available in certain countries. In the United States the professional standards of the Institute of Internal Auditors have been codified in several states' statutes pertaining to the practice of internal auditing in government (New York State, Texas, and Florida being three examples). There are also a number of other international standard setting bodies.

Internal auditors work for government agencies (federal, state and local); for publicly traded companies; and for non-profit companies across all industries. Internal auditing departments are led by a Chief Audit Executive ("CAE") who generally reports to the Audit Committee of the Board of Directors, with administrative reporting to the Chief Executive Officer (In the United States this reporting relationship is required by law for publicly traded companies).