Functions of Management
The management process and involves setting goals and determining how to achieve them.
What is planning?
This simplest form of business ownership is owned and operated by one individual.
What is a sole proprietorship?
Safety in the preproom falls under this federal legislation.
What is the Occupational Safety and Health Act (OSHA)
A group of potential customers possessing purchasing power and unsatisfied needs.
What is a market?
A person willing to create value, in either a new or existing business while assuming both the risks and rewards for their efforts.
What is an entrepreneur?
The management function that involves arranging resources and tasks to achieve objectives.
What is organizing?
In this form of business, profits and losses are shared between two or more people, but personal liability still applies.
What is a partnership?
Properly caring for the deceased is this type of goal in funeral service management.
What is a primary goal?
A type of market research, are used to gather data about consumer behavior, preferences, and sentiments.
What is a market survey?
A business that makes finished goods from raw materials by hand or machinery.
What is a manufacturing business?
This function of management involves motivating and guiding employees toward achieving goals.
What is leading? (Directing, actuating)
This hybrid structure combines the limited liability of a corporation with the tax benefits of a partnership.
What is a limited liability company?
The administration of a funeral service enterprise, the activities of which encompass marketing, office, human resources, facilities, and financial management.
What is funeral service management?
An association where members are made of local businesses and employees.
What is a chamber of commerce?
A small firm that provides minimal profits to their owner. An example is a trade embalmer.
What is a micro business?
This management function involves monitoring progress and making adjustments to stay on track.
What is controlling? (Evaluating)
This type of corporation is limited to 100 shareholders and avoids double taxation by passing income directly to shareholders.
What is an S corporation?
DAILY DOUBLE Specific procedures to be followed to ensure that all essential details are 33 addressed in the manner that the reasonably prudent funeral director would follow under the 34 same or similar circumstances
What are standards of care?
It is important to evaluate key management profiles and their overall strengths and weaknesses.
Who is the competition?
A strategic planning technique, with four components, that provides assessments of both internal and external factor that can impact the business.
What is a SWOT analysis?
A manager using reports, graphs, and dashboards is most likely performing this management function.
What is controlling? (Evaluating)
This business type offers simple tax filing but leaves the owner personally liable for debts.
What is a sole proprietorship?
A means of supplying support after a death has occurred.
What is aftercare?
Customer needs and potential opportunities; identifying the major benefits the new product or service will provide to customers
What are trends?
This SBA loan program helps small companies obtain financing and is very common for funeral service acquisitions.
What is the 7(a) Loan Guaranty Program?