Human Resources
What does HR stand for and what is its main purpose?
Human Resources; hiring, training, and supporting employees.
Which management level supervises day-to-day employees?
First-line management
What is an import?
Goods/services brought into a country
Are goods tangible or intangible?
Tangible
Blue-collar jobs involve what kind of labor?
Physical
Name all five functions of Human Resource Management.
Recruiting, hiring, training, evaluating, compensating employees.
What management function involves setting goals?
Planning
What is an export?
Goods/services sent to another country
Are services tangible or intangible?
Intangible
Commission is based on what?
Percentage of sales
Which law requires equal pay for equal work?
Equal Pay Act
What management function involves arranging resources and tasks?
Organizing
What is a tariff?
A tax on imported goods
What is cash flow?
Movement of money into and out of a business
What does SBA stand for?
Small Business Administration
Which law prohibits discrimination against individuals with disabilities?
Americans with Disabilities Act
Which management theory focuses on employee motivation?
Human Relations Theory
What is a quota?
A limit on imports or exports
What is a franchise?
Business using another company’s brand/system
What does an embargo do?
Bans trades
What is the difference between a wage and a salary?
Wage = hourly; salary = fixed amount
Which theory says management style depends on the situation?
Contingency Theory
What is the difference between trade surplus and deficit?
Surplus = more exports; deficit = more imports
Name 4 parts of a business plan.
Executive summary, market analysis, marketing, financial projections
Which management level sets company goals?
Top management