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Entrepreneurship And Buisness Management > Exam Preparation > Flashcards

Exam Preparation Flashcards

1
Q

What is leadership

A

It refers to the influence one has on others to obtain common goals

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2
Q

What is management

A

It refers to the control of a group of individuals in order to achieve commons goals

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3
Q

What is an habits

A

An habits refers to the daily routine has to do over and over

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4
Q

What are three types of habits

A

1 knowledge
It refers to the ability of knowing what to do and why
2 Skills
It refers to the ability where you ate required to know how to do it
3 Desire
It refers to the motivation you can have to do something

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5
Q

What are the seven effective habits private and public vortories

A

1 Private Votories
> Proactive
It refers to the ability of being able to take accountability for the influence others have on you
> Begin with an end mind
It refers to the ability where you can take the current situation and turn it into a win or make a difference
> Determine your priorities
It refers to the importance matters that must be dealt with it
Public Votories
> Win/Win combinations
Applies to the process whereby one has to accept the mutual benefit of taking a risks
> The other point of view
It whereby people have different views and difference based on they language background
> Syengry
It refers to the ability to work with two or more people to achieve a common goal
> personal motivation
It refers to the ability to motivate yourself to achieve your goals

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6
Q

What are the four personal motivation

A

1 physical
2 mental
3 Spritual
4 social emotions

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7
Q

What are the four types of resources a manager must have

A

1 Human Resources
Ability to work with workers
2 Financial Resources
Investment and cash flows
3 Physical Resources
Building and Equipment
4 Technology
Production process and the internet

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8
Q

What are the four factors to ensure all the objectives by the manager

A

1 Planning
Process whereby all the activities of the organization mainly goals and objectives
2 Organisation
This process is whereby it deals with the established effectiveness by organizing the workers and equipment
3 leadership
Inrerefence of the ability to influence a group of people and guide them to achieve goals
4 Controlling
Focus on the process whereby they is comparing of actual results within the organization plan to keep control

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9
Q

What are the types of skills required for a Manger

A

1 Technical skills
Refers to the process whereby the individual has skills on the specific position and must be an expert in the field
2 Human Skills
Refers to the ability whereby the manager can interact well with the people within the workplace and has great communication girls
Conceptual Skills
Whereby the manager must obtain the ability to apply and adapt to the existing methods and techniques

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10
Q

The different types of levels in management

A

1 Top Level Management
2 Middle level Management
3 Lower level Management

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11
Q

What is environmental scanning

A

It refers to whereby it is the process of gathering information about the factors that effect the buisness internally and externally

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12
Q

What are the indirect and direct environment

A

Indirect environment
Political
International
Environment
Economy
Culture
DIRECT ENVIRONMENT
Consumer
Competition
Government
Suppliers

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13
Q

What are the business functions

A

1 finance
2 marketing
3 production
4 personnel

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14
Q

What are the internal business environment

A

1 Formal organization
The buisness at which it structured to achieve the goals it includes allocated tasks and dividing people
2 Informal organization
The business at which it develops as a results of the employment needs that are fulfilled by the formal business
3 external organization
A distinction drained between the direct external environment and indirect external

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15
Q

Types of decisions

A

1 personal vs buisness decisions
> personal is your own decisions during your own personal time away from the business decisions
2 strategic vs operational decisions
>Strategic is made for future purposes and the operational is made for daily activities
3 structure vs unstructured decisions
> decisions taken according to the buisness policy
4 decisions making styles
> refers to way the decisions is made
5 centralized decisions
> decisions made by the top level management
6 decentralized decisions
> theses decisions are made at the lowest level in the business
7 participative decisions
> whereby they is a small group of individuals making decisions making progress

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16
Q

What are the personal influences

A

1 impulsive
2 over caution
3 ego defensive
4 intelligence

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17
Q

Decision making process 8 steps

A

1 Diagnose or define the problem
2 gather information about the problem at hand
3 Put it in writing
4 Established the decision making process
5 develop the alternative
6 Determine possible results
7 Decision take action
8 make follow up

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18
Q

What are the types of techniques used used to stimulate alternative solutions

A

1 Generation of alternative
They is no right or wring in this process mainly because it looks at one problem in different ways
2 Reverse Methods
Takes things as they are and turn them upside and down and inside or outside
3 Brainstorming
This is the most familiar mainly involves all individual laying out problems with ideas
4 Challanging assumptions
It refers to the arrangement of the ideas but to ideas themselves are assumed
5 Suspended judgement
Theses problem solving techniques allows you to use arrangement of information which might invalid in themselves
6 Fractioning
Refers to have generative of alternative ideas of problems solving but dividing them into one problem

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19
Q

Ethics

A

Refers to the moral principles or set of values held by an individual of groups

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20
Q

Styles of ethical management 3 types

A

1 Immoral management
This ethics us used on buisness people who are motivated by selfish reas4ons which may be their personal gains
2 Amoral management
The primary goal for the manager is profit
3 Moral management
The ethical code of conduct it strives for success

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21
Q

What do ethics do within the business

A

Ethics provides guidance within the individual for the workplace

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22
Q

What do ethics do within the business

A

Ethics provides guidance within the individual for the workplace

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23
Q

What does social responsibility do for the business

A

It refers to the ethical concept at which a person works and cooperates with other people
Or an organization for the benefit of the community

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24
Q

What is social responsibility

A

It refers to the obligation the business has towards the community

25
Q

What is social responsibility

A

It refers to the obligation the business has towards the community

26
Q

Who get benefited from thr social responsibility

A

1 Employees
Get better remuneration
2 Customer
Goods are safe for the customer
3 Environment
Includes all the natural resources like air and water
4 Community
Includes the area of the customer

27
Q

What is organizing

A

It refers to an arrangement of something systematically

28
Q

What is organizing

A

It refers to an arrangement of something systematically

29
Q

What is the difference between job generalization and specifications

A

Job generalization
It refers to the wide range of tasks given the employee
Job specifications
It refers to the specialized tasks required from the individual

30
Q

Types of organizations structures

A

1 Bureau organization
Found in large business and in governments it involves values and techniques
2 matrix organization structure
It formed for different departments but the project terms ate formed according to their knowledge and skills required for the specific project
3 Flat organization structure
Has few layers of departments there workers and managers interact regularly
4 Departmentation
Divides a business into managerial units and it has it own division of the function into their managerial units

31
Q

Types of organizations structures

A

1 Bureau organization
2 Matrix organization structure
3 Flat organization structure
4 Delegation

32
Q

What is power

A

Power is the influence one has on others to get the job done

33
Q

What is power

A

Power is the influence one has on others to get the job done

34
Q

Types of powers

A

1 Position
It the most formal power and it acquired from legitimate process
2 Legitimate power
Power based on the heiracy of the person
3 Coercive power
Power based on the leader authority to punish or force followers to comply
4 Reward power
Power based on the leader authority to reward followers to their performance

35
Q

Types of powers

A

1 Position
It the most formal power and it acquired from legitimate process
2 Legitimate power
Power based on the heiracy of the person
3 Coercive power
Power based on the leader authority to punish or force followers to comply
4 Reward power
Power based on the leader authority to reward followers to their performance

36
Q

What are the two types of personal power

A

1 Expert power
Power based on the leader expert has the ability to influence others by knowledge and skills
Referent power/ Charismatic
Power based on the influence in by personal traits and characteristics

37
Q

What should a manager consider when appointing an delegate

A

1 has accountability
2 unity of command
3 Expectations principles

38
Q

What is staffing
Recruitment
Selection

A

Staffing
It refers to the formal process of ensuring that a business has a qualified workforce to meet the objectives
Recruitment
It the process whereby a part of candidate is identified by and attracted to the business
Selection
Refers to the choice of the business from the pool of candidate who are suitable for the positions at hand

39
Q

What is staffing
Recruitment
Selection

A

Staffing
It refers to the formal process of ensuring that a business has a qualified workforce to meet the objectives
Recruitment
It the process whereby a part of candidate is identified by and attracted to the business
Selection
Refers to the choice of the business from the pool of candidate who are suitable for the positions at hand

40
Q

What is job analysis

A

It refers to the process whereby the candidate has to gather information regarding the position at hand to get better understanding of what is required from them

41
Q

What are the two source of recruitment

A

1 internal source
Takes place within the workplace
2 External source
Takes place outside the workplace

42
Q

What are the two source of recruitment

A

1 internal source
Takes place within the workplace
2 External source
Takes place outside the workplace

43
Q

What is the selection process of the candidate [7steps]

A

1 Initial interview
2 Application form
3 interview
4 approved by the supervisor
5 Test
6 physical examination
7 induction

44
Q

What is the selection process of the candidate [7steps]

A

1 Initial interview
2 Application form
3 interview
4 approved by the supervisor
5 Test
6 physical examination
7 induction

45
Q

What are the four types interviewe

A

1 planned or structured
Format is planned in advance along with certain questions
2 unplanned
No format or pre planned questions
3 Standardized interview
They are standerd questions asked
4 Tension interview
Mostly asked to stress the interviewee

46
Q

What are the motivational process within the workplace

A

1 people in reference of the workers
2 Jobs which are the working conditions within the workplace
3 organization which h the management styles

47
Q

What are the motivational process within the workplace

A

1 people in reference of the workers
2 Jobs which are the working conditions within the workplace
3 organization which h the management styles

48
Q

What is Labour’s Relation Acts

A

It the acts that provide right to the labour’s and it formed with the trade unions and to organize and bargain collectively

49
Q

What is collective bargaining

A

It is very important in a way it regulates labour’s relations of detterming their employees wages and Benefits

50
Q

What is collective bargaining

A

It is very important in a way it regulates labour’s relations of detterming their employees wages and Benefits

51
Q

What is centralized collective bargaining

A

It refers to the process whereby the employers in the section bargain with one or more unions representives

52
Q

What is centralized collective bargaining

A

It refers to the process whereby the employers in the section bargain with one or more unions representives

53
Q

What is controlling

A

Controlling involves the process of determining whether or not your buisness is progressing towards it goal

54
Q

What is controlling

A

Controlling involves the process of determining whether or not your buisness is progressing towards it goal

55
Q

Characteristics of effective control

A

1 Timeless
Information must be provided on time
2 Effectiveness organizational structure
The structure must be Effective to assist the management
3 Strategic control point
It a set of procedures and tools to maintain the implementation
4 Cost effective actions
It whereby the achieve goal by ensuring to measure the costs
5 Revelation of trends
A general directions from which something is changing it goes further that reflecting to the current situation

56
Q

Characteristics of effective control

A

1 Timeless
Information must be provided on time
2 Effectiveness organizational structure
The structure must be Effective to assist the management
3 Strategic control point
It a set of procedures and tools to maintain the implementation
4 Cost effective actions
It whereby the achieve goal by ensuring to measure the costs
5 Revelation of trends
A general directions from which something is changing it goes further that reflecting to the current situation

57
Q

What is the control process

A

1 Effectiveness in performance
2 Current performance
3 Informing workers
4 selecting remedial actions
It refers tonthe correction of actions
5 Re evaluating
6 Continuation and discontinued

58
Q

What are the factors to be considered when choosing a supplier

A

1 good quality in raw materials
2 reasonable prices
3 good reputation
4 credit policy
5 delivery services

Entrepreneurship And Buisness Management (2 decks)

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