Brainscape's Knowledge GenomeTM

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


See full index

My Certification > Business Principles and Practices 2 > Flashcards

Business Principles and Practices 2 Flashcards

1
Q

What are the three standard financial reports?

A
  1. Income statement
  2. Balance sheet
  3. Cash flow statement
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What does an income statement show?

A
  1. Revenue
  2. Expenses
  3. Net income over a defined period
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is the underlying equation of the balance sheet?

A

Assets = Liabilities + Equity

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

What does a balance sheet show?

A

The company’s total assets, and how the assets are financed - through debt or equity.

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

What does a cash flow statement show?

A

How cash inflows and outflows affect an organization.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What three elements are depicted in a cash flow statement?

A
  1. Operating activities
  2. Investing activities
  3. Financing activities.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is return on assets (ROA)?

A

How good the company is at turning its investments into profit
ROA = Net income before taxes/total assets

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

What is return on investments (ROI)?

A

A performance measure used to evaluate the efficiency of an investment of compare the efficiency of a number of investments.
ROI = current value on an investment - cost of the investment/cost of the investment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What are the three ways to measure profit margins?

A
  1. Gross profit margin = gross profit/sales
  2. Operating margin = operating income/sales
  3. Net profit margin = net income/sales
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is EBITDA?

A

Earnings before interest, taxes, depreciation, and amortization. It is a measure of a company’s overall financial performance and is used as an alternative to net income in some circumstances.
EBITDA = net income (net earnings) + interest + taxes + depreciation + amortization

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

What is the current ratio?

A

The current ratio is a measure of a company’s ability to cover short-term obligations.
Current ration = current assets/current liabilities

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

How is a hurdle rate used?

A

It is a minimum rate of return on a project or investment required by a company and used to evaluate investments.

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

What is the debt to equity ratio?

A

The debt to equity ratio is a measure of the degree to which a company is financing its operations through debt versus wholly-owned funds.
Debt to equity ratio = total liabilities/shareholder equity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is zero-based budgeting?

A

A method of budgeting in which all expenses must be justified and approved for each new period.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is a traditional budgeting process?

A

In this form of budgeting, the budget of the previous year serves as the base for the creation of the next year’s budget by making adjustments to the budget of the past year.

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

Building an execution-capable organization depends on what three tasks?

A
  1. Staffing the organization
  2. Acquiring, developing, and strengthening the resources and capabilities required for good strategy execution
  3. Structuring the organization and work effort.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is a standard?

A

A set of criteria, guidelines, and best practices that can be used to enhance the quality and reliability of products, services, or processes.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Who should be involved in developing a standard?

A

A broad group of stakeholders and interested parties both from the private and public sectors, working collaboratively.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What are three categories of standards?

A
  1. Voluntary
  2. Statutory or regulatory
  3. Mixed
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What is the purpose of a management system standard?

A

To help organizations improve the ways in which they provide services and perform processes.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What is the operating principle of many management systems standards?

A

The Plan-Do-Check-Act cycle

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What is ethics?

A

A discipline or system of moral principles governing human action and interactions. It deals with the rightness or wrongness of actions and the goodness or badness of motives and ends.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What are three questions that can be asked as a test for ethical conduct?

A
  1. Is it legal?
  2. Is it balanced?
  3. How will it make me feel about myself?
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What are three types of ethics?

A
  1. Descriptive
  2. Analytical
  3. Applied
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

What are three reasons people make unethical choices?

A
  1. Convenience
  2. Winning
  3. RelativismW
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

What is the relationship between a code of ethics and an ethics program?

A

A code of ethics states the underlying principles and an ethics program provides the guidance and structure for compliance.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

What is generally contained in an ethics code?

A
  1. Statement from the chief executive describing and supporting the purpose and importance of the code
  2. Statement of the specific nature of the business
  3. Enumeration of organizational values, including references to employees, customers, shareholders or stakeholders, partners, and society and the community
  4. Statement of commitment to the code, including implementation, training, and oversight.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

What are the five basic functions of management?

A
  1. Planning
  2. Organizing
  3. Directing
  4. Staffing
  5. Coordinating
  6. Reporting
  7. Budgetinghat
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

What are three categories of skills expected of managers?

A
  1. Technical
  2. Interpersonal
  3. Conceptional
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

How does the mix of skills change at different management levels?

A

Lower-level management should have stronger technical skills. The more upward in the management levels, the business requires more ane better interpersonal and conventional skills.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

This behavioral theory states that people are motivated differently depending on where they stand in a hierarchy beginning with the most basic needs (such as food and shelter) and up to self-actualization.

A

Abraham Maslow

32
Q

This behavioral theory explains two assumptions on how supervisors view subordinates - as naturally lazy and avoiding responsibilities; or self-directied, motivated, and creative.

A

Douglas McGregor

33
Q

What are five behavioral theories that help managers engage and motivate their staff.

A
  1. Abraham Maslow’s hierarchy of needs
  2. Douglas McGregor’s theory X and Y
  3. Frederick Herzberg’s hygiene theory
  4. Chris Argyris’ theory on mental health
  5. Warren Bennis’ organizational theory
34
Q

This behavioral theory is a two-dimensional model that involves maintenance factors and satisfies or motivators. The theory states that managers should work top provide a proper balance between the maintenance factors and the motivators.

A

Frederick Herzberg

35
Q

This behavioral theory state that traditional organizational principles, structures, and procedures are incompatible with the mental health of employees.

A

Chris Argyris theory on Mental Health

36
Q

This behavioral theory suggests future organizations will exhibit characteristics such as integration, social influence, collaboration, adaptation, and revitalization.

A

Warren Bennis - organizational theory

37
Q

What are the components of the Big Five Model of Personality?

A
  1. Surgency (leadership and extroversion)
  2. Agreeableness
  3. Adjustment
  4. Conscientiousness
  5. Openness to experience
38
Q

What are the three domains of learning?

A
  1. Cognitive
  2. Affective
  3. Psychomotor
39
Q

This learning domain includes the amount of material that is learned and the theory relating to the material (being able to grasp the theory and apply it in practice).

A

Cognitive learning

40
Q

This learning domain changes how a person views a situation.

A

Affective learning

41
Q

This learning domain is the physical or hands-on aspect of learning.

A

Psychomotor learning

42
Q

What are six benefits of training?

A
  1. Improved job performance
  2. Ease of supervision
  3. Procedure review
  4. Staff motivation
  5. Reduced turnover
  6. Legal protection
43
Q

What is the cost of goods sold?

A

How much an organization paid to sell products during a given period.

44
Q

What factors determine the number of officers required for a facility?

A
  1. Level of risk
  2. Physical complexity and size of the facility
  3. Number of employees
  4. Nature of work
  5. Number of entrances and the hours they are open
  6. Value and amount of assets being protected
  7. Number of patrols needed
  8. Number of escorts and special assignments needed.
45
Q

What are the three elements of an officer’s personal development?

A
  1. Education
  2. Training
  3. Guided experience
46
Q

What are the six major benefits of officer training?

A
  1. Improved job performance
  2. Ease of supervision
  3. Procedure review
  4. Staff motivation
  5. Reduced turnover
  6. Legal protection
47
Q

What are Knowles’s principles of andragogy?

A

A theory of adult learning that assumes adults are self-directed and will take responsibility for their own learning needs.

48
Q

What should be considered when selecting a training method?

A
  1. Scheduling
  2. Available technologies
  3. Comfort level of the instructor
  4. Number of persons to receive the training.
49
Q

What are six training methodologies?

A
  1. Lectures
  2. Case studies
  3. Job aids
  4. Distance learning
  5. On-the-job training
  6. Mentoring
50
Q

When is the case study method of training most effective?

A

When students work together in groups and actively have discussions.

51
Q

In most security environments what type of training methodology works best?

A

Mentoring

52
Q

What are seven ways to overcome limiting training budgets?

A
  1. Use off the shelf programs
  2. Outsource training to a community college or technical institution
  3. Look for grant funding
  4. Join professional organizations such as ASIS
  5. Share instructional materials
  6. Use distance learning
  7. Call on in-house trainers.
53
Q

What options should be considered for distance education or self-teaching?

A
  1. Pass-along media
  2. Online learning programs
  3. Written procedures
  4. Pass-along logs
  5. Distance learning
  6. Certifications
54
Q

What are some types of training strategies that can be used to make training programs more cost-effective?

A
  1. Off-duty training
  2. Tuition reimbursement
  3. Recognition programs
  4. Selling security services
  5. Supervisory training
  6. Internships
  7. Previous experience
  8. Officer selection
  9. Job rotation
  10. Professional memberships
55
Q

What are three common approaches to capability building?

A
  1. Developing and strengthening capabilities internally
  2. Acquiring capabilities through mergers and acquisitions
  3. Developing new capabilities through collaborative partnerships.
56
Q

What is an organizational structure?

A

The formal and informal arrangement of tasks, responsibilities, lines of authority, reporting relationships, and process of communication by which the firm is administered.

57
Q

What factors contribute to how an organizational chart is structured?

A
  1. Prior organizational patterns
  2. Varying internal circumstances
  3. Executive judgments about reporting relationships
  4. Politics of who gets which assignments
58
Q

What can affect vigilant performance?

A
  1. Work area design
  2. Human engineering of the tasks and equipment
  3. Human visual and auditory acuity
  4. Human detection, identification, and recognition capabilities
  5. Job analysis
  6. Training
  7. Workplace environment
  8. Quality control
  9. Morale
  10. Management advocacy for security staff.
59
Q

What is a job analysis?

A

The systematic collection and recording of information about the purpose of a job, its major duties, the conditions under which it is performed, required contacts with others, and the knowledge, skills, and abilities needed to perform the job effectively.

60
Q

What are three work environments in which security officers work?

A
  1. Mechanical environment
  2. Physical environment
  3. Human environment
61
Q

This work environment includes security and systems equipment such as video surveillance, access control, and life safety systems.

A

Mechanical environment

62
Q

This work environment includes factors such as prolonged periods of standing or sitting

A

Physical environment

63
Q

This work environment includes job knowledge, proficiency, and personality traits

A

Human environment

64
Q

What characteristics contribute to a security officer’s success on the job?

A
  1. Character
  2. Behavior and communications
  3. Coachability
  4. Appearance
  5. Knowledge of the job
  6. Education
  7. Ethics
65
Q

What are two common models for structuring a security operation?

A
  1. Vertical
  2. Network
66
Q

In this security operation structure, authority comes from the top and flows down through a series of managers and supervisors until it stops with the front-line staff.

A

Vertical

67
Q

In this security operation structure, employees are connected not just to their immediate supervisor and to those whom they themselves supervise but also to many others in the organization.

A

Network

68
Q

What is the necessary human being concept?

A

The concept means that the particular characteristics and reactions required at the security post require human capabilities.

69
Q

What are three broad criteria for choosing a security officer contractor?

A
  1. Consistent performance
  2. Prompt, efficient, and positive response to client concerns
  3. Competitive pricing
70
Q

What should be stated in the scope of work in a security officer RFP?

A
  1. The security tasks
  2. Days and hours of performance
  3. Total number of hours to be worked
71
Q

What are three types of service environments?

A
  1. Public areas
  2. Semi-public areas
  3. Private facilities and property.
72
Q

In this service environment, officers deal with people and activities in areas or buildings with unrestricted access.

A

Public

73
Q

Sites in this type of service environment may have some form of access restriction or impose and entry fee

A

Semi-public

74
Q

Areas or facilities in this service environment limit entry to certain people

A

Private

75
Q

What are some criteria that should be used to evaluate a security services bid?

A
  1. Adherence to the deadline
  2. Spelling, grammar, and accuracy in response
  3. Customized vs template
  4. Inclusion of all requested details
  5. Quality of the proposal package

My Certification (14 decks)

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