Entrepreneurship
Someone who recognizes a need/want present in society and invents/innovates a product in order to satisfy the people.
Entrepreneur
This is known as the first step to the Marketing Planning Process.
What is creating a mission statement?
Maintains fairness and safety for the customers, employees, and employers.
Ethics
List two ways one can "maintain appropriate personal appearance."
- Taking regular showers
- Practicing oral hygiene
- Wearing clean and proper shoes and clothing
- Haircuts and Shaving
Etc.
Name one of the four main categories of operations
The Functions of Operations
Policies- Health + Safety
Project Management
Purchasing Activities
the three 3 phases of a plan are __________, _______ and _________ action plans
Formulating, Executing and Evaluating action plans
A business or individual can obtain money and promise to pay it later
Credit
The science of taking ideas and converting them to marketable goods/services.
Entrepreneurship
Belonging and affection are examples of these types of needs.
What are social needs?
A helpful tool for Human Resource Mangers to find suitable potential employees.
Internet
What does following the chain of command improve?
- Improves Efficiency
OR
- Strengthens Communication
A document that lists planned revenue and expenses.
What is a Budget?
USMCA is an example of a ________ risk
External
Any activity where money is put at risk in the short term for the purpose of creating a profit in the long term.
Invest/Investing money
Renewing or altering a product/idea, featuring new advancements and technologies.
Innovation
These are the four variables of target segmentation.
Demographic
Geographic
Psychographic
Behavioural
It’s during this duty of human resources process are employees given a mentor.
Orientation
SMART Goals stands for…
SPECIFIC
MEASURABLE
ATTAINABLE
RELEVANT
TIME BASED/TIMELY
the discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria.
What is project management?
employees are an example of...... you can use towards achieving your goal.
Resources
The idea that money available today is worth more than the same amount in the future
Time-Value of money
A plan to avoid situation involving exposure to danger, harm, or loss.
Risk Management
Maria is developing her marketing plan for her small, but growing, business. She notes that one of the advantages of her company is that her staff is highly creative and flexible; however, a primary limitation that she faces is that she does not have sufficient financial resources to expand her product line. This is the type of organizational tool she decides to use.
SWOT Matrix
Technology is used in what area of human resources?
Recruitment and Hiring
A person interested in the marketing field wants to see if they enjoy marketing and wants to gain experience in that field. List two ways they can do that.
Possible answers include:
- Volunteering
- Internship
- CO-OP
- Networking
- Job Shadowing
Deciding how to transport goods is part of which operations activity?
A. Safety and security
B. Scheduling
C. Logistics
D. Maintenance and repairs
C Logistics.
Senior management turnover is an example of ___________ risk
Internal
An arrangement in which a company provides a contract that guarantees compensation for specified loss, damages, illnesses or death in return for a payment of a premium
Insurance
This is known as the ‘worldwide interdependence of natural resources, product markets and business competition’.
Globalization
This is the formula for the demand.
Wants + Buying Power = Demand
The code/system that discusses hours, wages, safety/health issues, termination etc.
Ethics Policy
What are three rights that workers have?
Safe/Clean workplace
- Overtime pay
- Equal Pay
- Family and Medical Leave
- No discrimination
A company trains its human resources department in how to handle emergency situations. Is this an example of operations management?
A. Yes, because the human resources department is considered an outside customer.
B. Yes, because it involves the operational aspects of safety and security.
C. No, because the human resources department does not interact with outside customers.
D. No, because the human resources department does not use operations.
B. Yes, because it involves the operational aspects of safety and security
_-_-_-_ analysis is a great tool for analyzing internal and external risks
SWOT
Type of investment where a group of people come together to pool money to invest in a stock/bond
Mutual Fund