Professional Development 3.00
Specific, measurable, attainable, relevant, and timely all refer to this goal making method.
SMART GOALS
Liquids, vapors, and gases are these types of hazards.
Chemical
Unlimited, Changing, Competing describe what
Wants
Assets
Product, price, place, promotion all refer to this
The 4p's of marketing.
When you choose among alternatives, you are
Decision making
This government agency was created to enforce workplace safety standards in 1970.
OSHA
What are the three types of economic resources?
Capital, Human, Natural.
What is the accounting equation?
*Hint _______=_______+________
(Assets = Liabilities + Owners’ Equity)
An organization owned by one or more shareholders and managed by a board of directors.
Corporation
__________ comes before innovation.
Invention
Is the inventory level at which a company would place a new order or start a new manufacturing run.
Reorder Point
is the process of planning, controlling, and organizing an organization or department.
Businesses need to know where they are in the “big picture.”
Strategic Management
is the holistic process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation on the financial statements
The accounting cycle
There are how many functions of Management?
Five
__________ and __________ decision making use numbers and feelings respectively.
Quantitative and qualitative.
Form and usefulness both refer to this.
Utility
The point at which the quantity of a good that buyers want to buy is equal to the quantity that sellers are willing to sell at a certain price.
Equilibrium Price
Ratio that refers to the number of days between a company’s paying for raw materials and receiving cash from selling the products made from those raw materials.
Cash Conversion Cycle
(a.k.a. Distribution): identifying, selecting, monitoring, and evaluating sales channels.
Channel Management
Paradigm
CMS has decided to hold a safety stock equivalent to average usage of 5 days. Calculate the reorder level.
CMS uses 1000 cases of paper daily. Its supplier takes a week to deliver the order. At what quantity should the inventory manager place his/her next order?
12,000 Cases
Calculate the productivity using the following:
four workers installed 720 square yards of carpeting in eight hours
22.5
___________- The process of keeping and interpreting financial records.
___________- The process of obtaining funds and using them to achieve the goals of the business
Accounting, Finance.
The implementing function involves leading people in order to accomplish the goals set out in the planning stage.
Directing