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business 4th year > Final > Flashcards

Final Flashcards

1
Q

Function of marketing

A

Advertising

Avoiding commodification

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2
Q

Parts of a marketing plan

A
  1. Goals
  2. Analysis
  3. Objectives
  4. Strategy
  5. Action plan
  6. Execution
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3
Q

Key components of a website

A
  1. Clear contact info at top of page
  2. Mobile friendly site
  3. Easy to find contact info with address
  4. Presence/use of a blog
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4
Q

Search Engine optimization

A
  1. site updates
  2. good links back and forth
  3. interaction with social media
  4. good use tags for content
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5
Q

Steps of conflict management model

A
  1. Awareness
  2. Identification
  3. Response
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6
Q

Request for fulfilling needs

A
  1. Specific
  2. Ask for something the other can say or do
  3. Use positive language
  4. Open ended and not attached to outcome
  5. Right of refusal
  6. Invitation for other to share honestly
  7. Win-Win
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7
Q

Fundamental requirements to resolve conflict

A
  1. want to resolve

2. willing to resolve

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8
Q

Body language and communication

A

10% of communication is words
30% of communication is sounds
60% of communication is body language

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9
Q

Things to know before interview

A
  1. Do homework on interviewer
  2. Reflect on challenges
  3. What motivates you?
  4. Core values/passions
  5. Ask questions
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10
Q

SARI method

A

Subject
Action
Result
Impact - most imp, interesting fact/take away
*If you could go back in time and change something about an interaction, what would it be?

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11
Q

Pros of buying a practice

A
  1. Good lending environment
  2. Overstock rural practices
  3. bargains
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12
Q

Cons buying a practice

A
  1. More buyers than sellers for 2M suburban practices
  2. investors want to buy vet practices
  3. Commercial real estate can be $$$$
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13
Q

Broker Pros buying a practice

A
  1. Awareness of marketplace
  2. Can find financing and offer legal advice
  3. Close deal quickly
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14
Q

Broker Cons buying a practice

A
  1. Commission up to 8%
  2. Work for seller
  3. Non-disclosure
  4. No visits / No communication
  5. Can bully with expertise
  6. Can use poor valuations
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15
Q

Asset purchase vs stock Pros

A
  1. No responsibility for prior operations/liabilities
  2. Asset purchases can be depresciated
  3. Goodwill can be amortized
  4. Employment begins at purchase
  5. New credit hx
  6. Don’t inherit worker comp or neg hx
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16
Q

Asset purchase vs stock Cons

A
  1. No hx with supplier
  2. Have to interview and rehire employees
  3. Renegotiate new lease
  4. apply for business licenses and permits
17
Q

Valuation establishes

A

Fair market value

18
Q

Things required for a valuation

A
  1. revenue analysis
  2. expense analysis
  3. tax returns
  4. asset analysis
  5. customer data/eval market environment
  6. protocols in place
19
Q

valuation equals

A

assets +((O earning - buyers salary) * multiplier or risk)

20
Q

Steps to buying a practice

A
  1. Valuation
  2. Financing
  3. Buy/sell agreement (attorney)
  4. Real estate closing
  5. Ernest money
21
Q

Headaches

A
  1. Financing - diff req’t diff lenders
  2. Brokers may put up barriers
  3. Owners may have unreasonable expectations
  4. Buyers may have unreasonable expectations
22
Q

Owner should sign

A

full disclosure statement

23
Q

Lenders

A
  1. Compare lenders
  2. Commercial/conventional
    - equity - may want 25% down
    - collateral requirement
    - 100% financing capital plus working capital
24
Q

Starting a practice

A
  1. Market research
  2. Financial feasibility
  3. Business plan
  4. Source of money
  5. Legal requirements
25
Q

Non compete covenants are used to protect

A

goodwill of established employer

26
Q

Core skills for euthanasia

A
  1. Non-verbal awareness
  2. Open ended injury and reflection
  3. Empathy
27
Q

Medical errors TEAM model

A

Truth, teamwork, transparency
Empathy
Apology and Accountability - explain
Management - communicate reg w/client

28
Q

Dog bite scienter law

A

You know your dog is a biter

Owner is liable

29
Q

Dog bite strict liability

A

In FL there is no first bite law

30
Q

Bite risks

A
  1. 4.5 million bites/yr
  2. 800,000$ medical costs
  3. children 5-9 most affected
  4. May is dog bite prevention week
31
Q

Dangerous dog definition

A
  1. Dog has aggressively bitten, attacked, or endangered a human on public or private property
  2. Dog has severely inj or killed a domestic animal
  3. When unprovoked, chased or approached someone in a menacing fashion
32
Q

Liability for drug compounding

A
  1. FDA
  2. Vet state board
  3. Lawsuits by clients
  4. Fraud
  5. Prosecution for animal abuse if causes inj
33
Q

Controlled Substances Act

A

DEA, state

CII drugs need separate recording so that it’s readily retrievable

34
Q

If CII drugs lost by breaking or stolen must

A

Notify DEA

Notify police

35
Q

Vet’s job to report injuries that are

A

not accidental

36
Q

Practice tips

A
  1. Discuss the issues
  2. Develop a client hand-out on responsible pet ownership
  3. Educate your clients
  4. Refrain from using terms like guardian or family member
  5. Have current and accurate client information
  6. Read local paper and be pro-active in your state assoc

business 4th year (1 decks)

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