B4 exam Flashcards
1
Q
First step of the Planning process
A
- set the objective
2
Q
second step of the planning process
A
- Analyse the environment (SWOT analysis)
3
Q
third step of the planning process
A
- Develop alternative strategies
4
Q
4th step of the planning process
A
- Implement an alternative
5
Q
5th step of the planning process
A
- Monitor and seek feedback on the implemented strategy
6
Q
planning process
A
- set the objective
- Analyse the environment (SWOT analysis)
- Develop alternative strategies
- Implement an alternative
- Monitor and seek feedback on the implemented strategy
7
Q
1st step Decision making
A
- set objectives and criteria
8
Q
2nd step decision making
A
- Outline the facts
9
Q
3rd step decision making
A
- Identify alternative solutions
10
Q
4th step decision making
A
- Analyse the alternatives
11
Q
5th step decision making
A
- Chose one alternative and implement
12
Q
decision making steps
A
- Develop objectives and criteria
- Outline the facts
- Identify alternative solutions
- Analyse the alternatives
- Chose one alternative and implement
13
Q
2 strategies to improve corporate culture
A
- establishing policies to enforce the expected values\
2. rewarding emloyees who demonstrate the correct values
14
Q
goal setting theory
A
clarity challenge commitment feedback task complexity
15
Q
clarity
A
making goals unambiguous and measurable. Goals should be simple, clear and as specific as possible.
16
Q
challenge
A
The opportunity to complete a task that is difficult can provide a level of challenge that can motivate an employee.
17
Q
commitment
A
In order to ensure the employee will actively pursue the achievement of a goal, there must be a commitment on the part of the employee.
18
Q
feedback
A
Feedback provides opportunities to offer recognition for progress achieved, to make adjustments to the goal if necessary, and to ensure expectations are clear and realistic.
19
Q
task complexity
A
level of complexity should not overwhelm employees. It is important that any additional training that is required to assist the employee to complete the task is provided in a way that allows for genuine skill development over time.
20
Q
performance management
A
The management of employees, departments and organisation to ensure that goals and objectives are being reached efficiently and effectively.
21
Q
Outplacement services =
A
counselling, skills development, resume writing, interview techniques, job search
22
Q
assisting employees in their transition =
A
superannuation, pension entitlements, lifestyle planning, farewell parties/speeches
23
Q
role of hr man
A
Acquired to do:
negotiated between empee +/ or their representatives on issues of pay + working conditions
mediate groups interests empe//empr
develop grievance policies to solve disputes calmly + consistently
ensuring legal minimums for wages + conditions + safety = met
maintain positive environment ~ disputes = reduced
24
Q
unions
A
= organisations formed to represent + protect rights of empees in particular industry
25
employers associations
group of empers who unite to promote their common interest + share info + advice + support
26
Award
= provide pay rates + conditions of employment for a particular industry/ occupation
27
award adv
wage = equality + transparency across industry
| stating + predictability in negotiation process
28
award dis
no incentives for local empee-emper relations
| less flexible to needs of individual businesses
29
agreement
= contracts made at a business/enterprise level between empee + empers about terms + conditions of employment
30
agreement adv
^incentive^ for good empee/empr relations
| flex to needs if individual biz
31
agreemnet dis
\/ wage equality + transparency across industry
| \/ collective empee strength in bargaining e.g. stirkes
32
Enterprise agreements:
Made between either employer union or employer majority employee representative groups
expectation of good faith - timely, disclose relevant info, no unfair conduct
once agreement reacher - submit to FWC
33
operations management
consists of all the activities in which managers engage to produce goods or services. The coordination of recourses within a business to achieve the efficient and effective output of finished goods and services.
34
eg of tranformation/process intangible
example of intangible changes school takes its main inputs — students, the syllabus, staff and buildings — and produces educated, employable graduates.
35
automation
involves lines work generally in manufacturing industries where mass production of a standardised product is possible.
36
CAD
computerised design tool that allows a business to create product possibilities from a series of input parameters.
37
CAM
technique that involves the control of machinery, and equipment through a computer. Machines are fed instructions from a computer
38
Computer integrated manufacturing
is a method of manufacturing in which the entire production process is controlled by a computer.
39
Forecasting
is a materials planning tool that relies on data from the past and present and analysis of trends to attempt to determine future events.
40
materials requirement planning
involves developing an itemised list of all materials involved in production to meet the speci ed orders.
41
TQM
an ongoing, business-wide commitment to excellence that is applied to every aspect of the business’s operation through sharing responsibility among all the members of the business.
42
waste minimisation
is a process involving the reduction of the amount of unwanted or unusable resources produced by a business in an attempt to improve the efficiency and effectiveness of operations.
43
waste min strategies
• redesigning products and packaging
• procurement of materials made from recycled materials
• reusing scrap material
• improving quality contro
• exchanging waste with other businesses
• introducing all systems approaches, such as lean production.
44
lean management
is an approach that improves the efficiency and effectiveness of operations by eliminating waste and improving quality.
45
principles of lean man 6
Avoiding excess motion = reducing unnecessary motion
avoiding over production = no overworking
avoiding excess inventory = minimising storage required
Eliminating waiting time = overall to wait and produce
Avoiding over processing = no more adding unnecessary value to product
reducing excess transport
46
CSR
Corporate social responsibility (CSR) takes into account an approach that is both ethical and socially responsible.
47
Adv csr
Behaving in a socially acceptable manner can improve the reputation of a business, improve efficiency and reduce costs in the long term.
48
disad csr
It can be expensive and time consuming to manage an operations system in a socially responsible way.
49
Global sourcing
= the practice of seeking the most cost efficient materials and other inputs, including from countries overseas.
50
overseas manu
The production of a good in a country that is different to the location of the business’s headquarters. also referred to as offshoring, meaning a good is produced in a country that is different to the location of the business’s headquarters.
51
global outsourcing
Outsourcing involves the contracting out of a business process (e.g. payroll processing, claims processing) and non-core functions (e.g. IT, call centre support) to another business.
52
supcman
Outsourcing involves the contracting out of a business process (e.g. payroll processing, claims processing) and non-core functions (e.g. IT, call centre support) to another business.
53
Force field analysis
= outlines the process of determining which forces drive and which resist a proposed change.
54
5 step process FFA
from a group of people driving the change
identify the change
Identify driving and restraining forces - then assign a score to represent the strength of the force
select 3-5 changes to focus on - reduce restraining, encourage driving (compare with SWOT analysis)
Identify actions to address these focus areas - how will it be implemented and who is responsible
55
MP stratgey
Michael Porter’s theory is a strategic management theory which describes how a business can seek to acquire a competitive advantage in its industry or market and therefore dominate that industry or increase its market share in it.
56
5 forces MPS
```
supplier power
buyer power
competitive rivalry
threat of substitution
threat of new entry
```
57
supplier power refers to
how easy it is for suppliers to drove costs up
58
buyer power ref to
how powerful buyers are in driving prices down
59
comp rivalry ref to
looks at the number and capability of competitors
60
threat of sub ref to
how easy it is for customers to find a similar goof pr service
61
threat of new entry ref to
how easy it is for new competitors to enter the market
62
3 steps of MPS
Step 1 - Carry out a SWOT analysis
Step 2 - Porter’s five force analysis
Step 3 - Compare the SWOT with the results of the five forces
63
explain 1st step mps
Step 1 - Carry out a SWOT analysis
• Carry out a SWOT (Strengths, Weaknesses, Opportunities and Strengths) for each of the two strategies. businesses should consider undertaking a SWOT analysis in regular intervals to evaluate the impact of future change.
64
explain 2nd step mps
Step 2 - Porter’s five force analysis
• A business should use this as a tool to understand where power lies in a business situation. The tool can be used to identify weather new products, services or businesses have the potential to be profitable. 5
65
explain 3rd step mps
Step 3 - Compare the SWOT with the results of the five forces
• A Business should select the generic strategy that provides the strongest set of options
66
leadership
Leadership is the process of positively influencing and encouraging individuals to set and achieve objectives.
67
list of management strategies to respond to KPI's 8
```
staff training
staff motivation
change in management styles/skills
increased investment in tech
improoving quality in production
Cost cutting
initiating lean production
redeployment of recourses
```
68
new business opportunities
Desire to expand profits
Move out of a market in decline
Move out of a market with overly strong competition
Get into a new market just as it begins to expand
This can be done by:
Developing new products through investment in research and development
Finding a new market or niche
Innovation
Taking advantage of new technology
Exporting goods or services overseas
Having goods produced overseas
69
learning organisation
This theory is associated with businesses that continuously transform themselves by allowing the members of that business to continuously learn from their experiences.
70
5 principles of learning org
```
Mental models
Building a shared vision
Personal mastery
Team learning
Systematic thinking
```
71
low risk strategies 4
Communication
Empowerment
Support
Incentives
72
high risk strategues 2
manipulation
| threat
73
unfreeze consists of 4
1 Determine what needs to change
2 Ensure there is strong support from upper management
3 Create the need for change
4 Manage and understand the doubts and concerns
74
change consists of 4
1 Communicate often
2 Dispel rumours
3 Empower action
4 Involve people in the process
75
refreeze consists of 4
1 Anchor the changes into the culture
2 Develop ways to sustain the change
3 Provide support and training 4 Celebrate success!
76
ways woolies incorporate CSR management in the environment 3
sustainability goals toward zero waste going to land fill
increasing the recyclability on home brand products
reducing carbon emissions by 10% from 2015's number
77
ways to incorporate CSR management in Society’s health and welfar
woolies earn and learn program, helps getting equipment for schools
78
ways to incorporate CSR management in the Concern for workforce and families 4
Providing a flexible work atmosphere for its employees
Lessening noise pollution from a factory
Allowing employees to volunteer their time for other non-profit organisations
Employing local workers
