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Business Management > Exam 2 > Flashcards

Exam 2 Flashcards

1
Q

2 things needed to experience compassion fatigue

A

Ability of empathy and a caregiving relationship

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2
Q

Secondary traumatic stress is stress felt when experiencing an event _

A

secondhand (usually by listening)

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3
Q

If secondary traumatic stress is unresolved, will lead to

A

compassion fatigue

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4
Q

Common causes of compassion fatigue

A

-Difficult clients
-Not enough time
-Discussing fees
-Problems with coworkers
-Lack of clarity about responsibility
-Lack of work-like balance

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5
Q

What is described?
-Symptoms manifest similar to CF
-Occurs over long period of time
-Takes longer to resolve than CF
-Can happen to non-caregivers

A

Burnout

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6
Q

Managing fatigue and burnout

A

Awareness, Emotional intelligence, Balance, Setting boundaries

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7
Q

Transferable skills

A

skills that have been gathered through various jobs, hobbies, sports, or other experiences

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8
Q

Personal skills

A

Positive attitude, adjust to team environments, strong work ethic

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9
Q

steps of organizational development

A

-Define problem
-Design solution
-Implement solution
-Evaluation

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10
Q

Information must be learned and _ immediately in adults, or the retention rate is lower

A

implemented

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11
Q

Which learning method increased retention in adults? Push or pull

A

pull- students pull info to themselves through research

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12
Q

What is succession planning

A

identifying and fostering growth of high performing team members and preparing them to fill critical positions in the future

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13
Q

What is talent management

A

building the team to deliver the strategic goal that has been put in place through training and development

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14
Q

Types of marketing

A

Direct, indirect, internal, external

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15
Q

4 P’s of marketing

A

Product, Place, Price, Promotion

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16
Q

_ marketing does not deliver immediate results

A

external

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17
Q

Marketing that should occur without thought

A

-Client education
-Clean facilities
-Genuine service
-Professionalism
-Compassion

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18
Q
A
19
Q

What do bookkeepers do

A

maintain accounts payable, payroll, and accounts receivable

20
Q

Who is the first choice when choosing a professional accountant, they must pass extensive exams and attend yearly CE, are held to highest professional standards

A

Certified Public Accountant (CPA)

21
Q

Accrual-based method of financial management

A

-income and expenses are recorded when they occur
-includes accounts receivable and accounts payable

22
Q

Cash-based method of financial management

A

-Income measured when cash is received and expenses are measured when cash is spent
-does not include accounts receivable

23
Q

What is a balance sheet

A

a financial report detailing practice assets, liabilities, and owners equity

24
Q

What is a cash flow statement

A

report on the sources and uses of cash during a given period of time

25
Q

Profit and loss statement aka income statement is

A

summary of income, expenses, and profits

26
Q

Budget is

A

an estimate of revenues and expenses over a given period

27
Q

Intangible property is

A

nonphysical property that has values: franchises, copyrights, client lists, goodwill, noncompete agreements are examples of intangible property

28
Q

What is tangible property

A

physical property that has value such as desks, chairs, equipments, computers, software, and vehicles

29
Q

Average client transaction (ACT)

A

average of every transaction DVM is credited for

30
Q

Average doctor transaction (ADT)

A

patient visits and diagnostics only

31
Q

External benchmarking is the ability to

A

compare one practice to another locally, statewide, and nationally

32
Q

Internal benchmarking is

A

analyzing benchmarks with practice history

33
Q

Benchmark numbers are available from

A

AAHA, VHMA, AVMA

34
Q

Formula for analyzing profits

A

Revenue - expenses= profit

35
Q

Accounts receivable should not exceed _% of gross revenue

A

1%

36
Q

As accounts receivable (AR) increases, _ decreases

A

profit

37
Q

An insurance premium is

A

amount an owner pays monthly or annually to obtain insurance for his or her pet

38
Q

Insurance deductible is

A

amount owner must pay before insurance company will offer compensation

39
Q

Co-pay is

A

percentage that O is responsible for once the deductible has been met

40
Q

3 parts of a message

A

verbal, paraverbal, nonverbal

41
Q

Reminders are for

A

vaccines, exams, testing

42
Q

Recalls are for

A

sx, vaccines, illness or injury

43
Q

Goal of client retention

A

70-75% over 3-year period

44
Q

5 stages of grief

A

denial, anger, bargaining, depression, accepting

Business Management (3 decks)

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