Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Career And Enterprise > All Of It > Flashcards

All Of It Flashcards

1
Q

Restructuring

A
  • When a company makes significant changes to its financial / operational structure typically under financial duress.
  • MIGHT INVOLVE: a flatter management strategy. Mergers and exquisite ons more employee autonomy and responsibility.
  • PURPOSE: increases employee efficiency, Increases quality of goods / services, promote an enterprising culture
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Purpose of restructuring

A
  • Cut down on financial costs
  • Termination of redundant employees = increase efficiency / productivity BUT decreases costs
  • To increase quality of goods / services = better / optimised employee efficiency when company is restructured.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Acquisition

A

When a company assumes owner of another

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Merger

A

Joining of 2+ separate businesses to form a new entity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Negative impacts of restructuring

A
  • Decrease morale > many changes occurring in a short period = confused + overwhelmed employees
  • Leads to decline in productivity / efficiency > employees may not be sufficiently trained + higher workload
  • Lower quality of goods / services > due to a loss in key skilled workers if downsizing occurs.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Positive impacts of restructuring

A
  • Increase pay > less employee due to downsizing means less administrative cost + possibility of pay increase
  • Increased efficiency > eliminating unnecessary roles / tasks > teams become better organised + collaborate more effectively.
  • Improve decision making > comes with elimination of management layers, leaving to improved communication + more decision making independence.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Codes of conduct & standards

A
  • The practical means which the right of stakeholders are protected
  • Leads to the development of protocols applied to systems, processes and other guidelines that reflect and reinforce the nature of work

> can relate to employee BEHAVIOUR including appropriate interpersonal communication

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

KPI & sustainability KPIs

A

Key Performance Indicators

  • Are QUALITATIVE / QUANTITATIVE measures that gauge a company’s performance against a set of targets, objectives or industry peers
  • QUANTITATIVE: Decrease amount of waste and utility costs / Increase RRR materials
  • QUALITATIVE: increase job satisfaction, increase employees skills
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Purpose of KPIs

A
  • Assist organisations to determine whether or not theyre on track for achieving their desired objectives
  • Play a crucial role in measuring monitoring and increasing productivity / efficiency within sn organisation by providing quantifiable measures aligned with organisational goals
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

KPI examples

A

HOSPITALITY
Qualitative > guest experience - measure s of how satisfied guests are with their stay at a hotel / resort

Quantitative > occupancy rate - measure of the % of avail. Rooms occupied during a specific time period

FOOD
Qualitative > menu item popularity. Measures of how popular a menu item is among customers

Quantitative > food cost percentage - measures of cost of food sold as a % of total food sales (profit)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Qualitative

A

Qualitative data is interpretation based descriptive data hard to define with numbers

  • job satisfaction
  • employee skills
  • collaboration

Allows an enterprise to assess efficiency in terms of effectiveness.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Quantitative

A

Quantitative data is numbers - based countable or measurable

  • amt. of waste
  • utility cost
  • RRR
  • renewable energy use

Enables an enterprise to assess efficiency in term of productivity.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Organisational structure

A

Refers to the division of responsibilities employees, assists and operation within an enterprise

  • level of authority
  • degree of responsibility
  • structure of accountability
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Workplace sustainability

A
  • A company’s strategy to decrease negative environmental impacts from their operations
  • Also encompasses fair wages, safe working environment + job satisfaction within the workforce.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Efficiency

A

The quality of achieving the largest of useful work using as title energy/ effort as possible.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Productivity

A

A measure of economic performance that compares the amount of goods and services produces (output) with the amount of input used to produce them.

17
Q

Manufacturing technologies

A

The capital equipment used in the production of a good

18
Q

Service technologies

A

The capital equipment used to provide a service

19
Q

Social media usage policy

A

Instructs employees on appropriate behaviour / representation when engaging on social media platforms.

20
Q

The use for social media usage police

A
  • bullying
  • diversity and inclusion
  • brand prep
  • confidentiality
  • security
21
Q

Performance management

A

Quality process

  • involves appraising employee performance > determines whether employees are achieving the goals / objectives of an enterprise.
  • performance appraisal allows investigation of employee performance in terms of KPIs
22
Q

Informal WPC resolution [positive communication]

A
  • Involves positive proactive language + active listening between parties Eg. Instead of “you don’t do anything” > “ i feel overwhelmed and would appreciate help”
  • Could look like : one person approaching other outside of work and initiating a casual discussion where issue is brought up to eliminate misunderstanding.
  • Only works if both parties willing to solve conflict.
23
Q

Weakness of positive com.

A
  • May not result in a solid agreement that is FOLLOWED THRU
  • Could worsen situation (no guaranteed active listening or participation = misunderstandings or an argument)
24
Q

Strengths positive com.

A
  • Culminates in a feeling of independence and successful cooperation > because of strengthen bonds = increase productivity and job satisfaction
  • More cost effective
25
Q

Formal WPC resolution [mediation]

A
  • When multi conflicting parties converse with each other in the presence of another individual impartial to issue / people involved
  • allows parties to purposefully explore their problems in depth while increasing understanding and empathy.
26
Q

Strength mediation

A
  • Quicker + can be booked @ various times = flexible; compared to other formal strategies
  • Can result in higher satisfaction of both parties because agreed solution often benefits all
27
Q

Weakness mediation

A
  • Unnecessary costs (parties can speak amongst themselves)
  • parties will not be able to use most effective evidence against each other in court because mediation is confidential.
28
Q

Copyright law

A
  • The legal protection for people who create and express original ideas and info on certain forms
  • this makes it illegal to steal someone’s work and claim it as yours or replicate without a license
    Eg. audiovisual works
29
Q

Licensing

A
  • The process of giving / getting permission to have, produce or use a piece of intellectual property that another person / company have the rights to
  • PURPOSE: to access / be able to do something LEGALLY
    Eg. Business franchising
30
Q

Age Restrictions

A
  • The age at which a person can / cannot participate in something
    Eg. Usage of high risk machinery
31
Q

Action Plan

A
  1. Objective
    (What do i want to achieve?)
  2. Action required
    ( what do i need to do to achieve this?)
  3. Success Criteria
    (How will i know if im successful?)
  4. Time frame
    (When do i want to achieve this by?)
  5. Resources
    (What / who can help me in achieving this?)
32
Q

Job seeking tools

A
  • Social media
  • LinkedIn
  • SEEK
  • Cold canvassing (directly approaching employers)
33
Q

Flexible working arrangement

A
  • Some employees who have worked for the same employer for at least 12 months can request flexible working arrangements.
    Eg. Changes to hours, patterns or location of work
34
Q

Tele - Communicating

A
  • Employees work from home using ICT
  • May involve
    > video conferencing
    > FaceTime/ Zoom
    > phone link up
  • Benefits
    > increase work life balance + flexible working hrs
    > decrease utility cost in workplace
    > Decrease cost of transport
35
Q

Multi- skilling

A
  • Training employees in a variety of skills > allows max flexibility of deployment
  • Benefits
    > supports synergy + teamworks
    > workers can be rotated thru different work tastes = increasing motivation, job performance / satisfaction
    > allows work to be shared during t periods of high workload = employees are trained in a range of different tasks
36
Q

Casual work

A
  • Employment on a non-permanent basis
  • ability to request / turndown particular shifts or reduce hrs as necessary
  • higher hourly rate of pay
  • minimum working hours 3 hrs p/w
  • employer not required to supply leave / other entitlements
  • employment can be terminated on short notice

Career And Enterprise (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions