Resource Types
Furniture, equipment, and raw materials fall under this resource category.
Material Resources
Lawyers, accountants, and mentors are examples of this HR type.
External Human Resources
The first step in the planning function.
Establishing Objectives
A business with one owner who assumes all profits/losses.
Sole Proprietorship
The base level of needs (food, water, shelter).
Physiological Needs
Internet, computers, and specialized software are examples of this resource.
Technological Resources
This recruitment process involves hiring someone from outside the business.
External Recruitment
This function involves measuring performance to ensure goals are met.
Controlling
Partners whose liability is limited to their investment.
Limited Partners
The need for job security and safety from harm.
Safety/Security Needs
These resources are "used up" in business operations (e.g., paper, oil).
Consumable Resources
Paying employees based on skills acquired is called this incentive.
Pay for Knowledge
A leader who ignores task specifics and gives employees freedom.
Laissez-Faire Leader
This ownership type pays its own taxes and has a board.
Corporation
The level where friendship and family belong.
Love/Belonging Needs
Funds from banks, grants, or investors are this type of resource.
Financial Resources
Training employees reduces this risk for businesses.
Employee turnover/loss of skilled staff
Keeping inventories at optimal levels is part of this control.
Inventory Control
A key disadvantage of sole proprietorships.
Unlimited liability (personal assets at risk)
Esteem needs include these two things.
Respect, Recognition, Status
A truck or machinery that loses value over time is this type of resource.
Fixed/Capital Goods (depreciates)
Sharing a percentage of revenue from increased productivity is called this.
Gain Sharing
The 4 functions of management (name all).
Planning, Organizing, Controlling, Leadership
The 3 types of business ownership structures.
Sole Proprietorship, Partnership, Corporation
The pinnacle of the hierarchy: becoming your best self.
Self-Actualization