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business management for felix > 5B > Flashcards

5B Flashcards

1
Q

staff training(n.)

A

(Textbook)Staff training involves a business equipping employees with the knowledge and skills required to perform work tasks.

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2
Q

staff motivation(n)

A

(Textbook)Staff motivation involves a manager implementing strategies that encourage employees to work towards the achievement of business objectives.

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3
Q

change in management style(n.)

A

(Mirelles good)Change in management style involves altering the way management directs and communicates with employees.

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4
Q

change in management skills(n.)

A

(Textbook)A change in management skills involves a manager, altering the way they approach business tasks and collaborate with other employees.

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5
Q

What do Management strategies to respond to KPI’s focus on???

A

-the financial status of a business
-employee morale
-and the operations process.

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6
Q

Cost cutting(n.)

A

Cost cutting(n.)=is the process of reducing business expenses.

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7
Q

In staff motivation(n.), what are the motivation strategies

A

1)performance related pay(n.)
2)Career advancement(n.)
3)investment in training(n.)
4)support strategies(n.)
5)sanction strategies(n.)

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8
Q

performance related pay(n.)

A

Performance-related pay(n.)= is a financial reward that employees receive for reaching or exceeding a set business goal.

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9
Q

career advancement(n.)

A

Career advancement(n.)=Career advancement is the upwards progression of an employee’s job position

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10
Q

investment in training(n.)

A

Investment in training(n.)= is allocating resources to improve employee skills and knowledge.

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11
Q

support strategies(n.)

A

Support strategies(n.)= involve providing employees with any assistance that improves their satisfaction at work.

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12
Q

sanction strategies (n.)

A

Sanction strategies(n.)= involve penalising employees for poor performance or breaching business policies

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13
Q

In change in management styles(n.), what are the management styles

A

1)Autocratic(n.)
2)Persuasive(n.)
3)Consultative(n.)
4)Participative(n.)
5)Laissez-faire(n.)

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14
Q

Autocratic(n.)

A

Autocratic management style(n.)= involves a manager making decisions and directing employees without any input from them.

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15
Q

Persuasive(n.)

A

Persuasive management style(n.)= involves a manager making decisions and communicating the reasons for those decisions to employees without their input.

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16
Q

Consultative(n.)

A

Consultative management style(n.)=involves a manager seeking input from employees on business decisions but making the final decision themselves.

17
Q

Participative(n.)

A

Participative management style(n.)=involves a manager sharing information with employees so that employees can participate in decision-making.

18
Q

Laissez-faire(n.)

A

Laissez-faire management style(n.)=involves a manager communicating business objectives to employees and giving them freedom to make decisions independently.

19
Q

In change in Management skills(n.), what are the management skills

A

1)Communication(n.)
2)Delegation(n.)
3)Planning(n.)
4)Leadership(n.)
5)Decision-making(n.)
6)Interpersonal(n.)

20
Q

Communication(n.)

A

Communication(n.)=is the skill of effectively transferring information from one party to another.

21
Q

Delegation(n.)

A

Delegation(n.)=is the skill of assigning work tasks and authority to other employees who are further down in a business’s hierarchical structure.

22
Q

Planning(n.)

A

Planning(n.)=is the process of determining a business’s objectives and establishing strategies to achieve these aims.

23
Q

Leadership(n.)

A

Leadership(n.)=is the skill of motivating others in order to achieve a business’s objectives.

24
Q

Decision-making(n.)

A

Decision-making(n.)=is the skill of selecting a suitable course of action from a range of plausible options.

25
Q

Interpersonal(n.)

A

Interpersonal(n.)=is the skill of creating positive interactions with other employees, to foster beneficial professional relationships

26
Q

In cost cutting(n.), what are some cost cutting strategies

Cost cutting(n.)=decreasing input or output cost.(decrease internal cost)

A

1)Termination management(n.)(GENERALLY IN THE FORM OF REDUNDANCY(CAN’T REALLY THING OF ANY OTHER WAY))
2)Lean management(n.)
3)Total quality management program(TQM)(n.)
4)Global considerations(n.)
Waste minimisation strategies(n.)

27
Q

Termination management(n.)=
(GENERALLY REDUNDANCY IS UTILISED FOR COST CUTTING STRATEGIES(CAN’T REALLY THING OF ANY OTHER WAY))

-Just define termination(n.)

A

Termination(n.)=is the process whereby a business ends its employment contract with an employee.

28
Q

Lean management(n.)=

A

-lean management(n.)=the [process] of [systematically reducing waste] in [all areas] of a [business’s operations system] whilst simultaneously [improving customer value.]

29
Q

Total quality management program(TQM)(n.)=

A

-Total Quality Management(n.)=[A holistic approach] whereby [all employees] are [committed] to [continuously improving the business’ operations system] to [enhance quality] for customers.

30
Q

Global considerations(n.)=

A

-Global sourcing of inputs(v.)=A business [acquiring raw materials and resources] [from overseas suppliers.]

-Overseas manufacture(n.)=A [business producing] [goods or services] [outside] of the [country] where its [headquarters] are located.

-Global outsourcing(v.)=[transferring specific business activities] to an [external business] in an [overseas country.]

31
Q

Waste minimisation strategies(n.)

A

Waste minimisation(n.)=is the process of reducing the amount of unused material, time, or labour within a business.

WASTE MINIMSATION STRATEGIES=
-Recycle(n.)=is a waste minimisation strategy that aims to transform items which would have otherwise been discarded.
-Reuse(n.)=is a waste minimisation strategy that aims to make use of items which would have otherwise been discarded.
-Reduce(n.)=is a waste minimisation strategy that aims to decrease the amount of resources, labour, or time discarded during production.

32
Q

Staff training(n.) effect on KPI’s=
Number of customer complaints
Number of workplace accidents
Number of sales
Net profit figures
Percentage of market share
Rate of productivity growth
Level of staff turnover
Rate of staff absenteeism
Number of website hits

A

Number of customer complaints
Number of workplace accidents
Number of sales
Net profit figures
Percentage of market share
Rate of productivity growth
Level of staff turnover
Rate of staff absenteeism
Number of website hits

33
Q

Staff motivation(n.) effect on KPI’s=
Level of staff turnover
Rates of staff absenteeism
Number of customer complaints
Rate of productivity growth
Percentage of market share
Number of sales
Number of website hits

A

Level of staff turnover
Rates of staff absenteeism
Number of customer complaints
Rate of productivity growth
Percentage of market share
Number of sales
Number of website hits

34
Q

change in management styles(n.) effect on KPI’s=
Level of staff turnover
Rates of staff absenteeism
Rate of productivity growth
Net profit figures
Number of workplace accidents

A

Level of staff turnover
Rates of staff absenteeism
Rate of productivity growth
Net profit figures
Number of workplace accidents

35
Q

change of change in management skills(n.) effect on KPI’s=
Level of staff turnover
Rates of staff absenteeism
Rate of productivity growth
Net profit figures
Number of workplace accidents

A

Level of staff turnover
Rates of staff absenteeism
Rate of productivity growth
Net profit figures
Number of workplace accidents

36
Q

Cost cutting(n.) effect on KPI’s=
Net profit figures
Level of wastage
Rate of productivity growth

A

Net profit figures
Level of wastage
Rate of productivity growth

37
Q

ANSWER THE QUESTION STRUCTURE=

Explain how change in management style and increased investment in technology could be used to respond to the data shown in the case study. [6 marks]

THERE IS A KPI TABLE WITH DATA IN THIS QUESTION

A

-def change in management style(n.)
-Refer to KPI data and state whether favourable or unfavourable
-explain how the implementation of change in management style will increase this KPI

-def increased investment in technology(n.)
-Refer to KPI data and state whether favourable or unfavourable
-explain how the increased investment in technology will increase this KPI

38
Q

ANSWER THE QUESTION STRUCTURE=

Describe using the data above, how improving quality in production could be used to respond to the data shown in the case study [3 marks]

There is kpi table( or kpi represented in text here)

A

-Define improving quality in production(n.)
-Refer to KPI data and state whether favourable or unfavourable
-explain how the improved quality in production will increase this KPI

business management for felix (17 decks)

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