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D3 > Financial Management & HR > Flashcards

Financial Management & HR Flashcards

1
Q

When menu planning, which item is budgeted w/ first?

A

protein

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2
Q

Work compensation

A

hurt at work

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3
Q

unemployment compensation

A

dependent on each state (let go d/t no work availability)

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4
Q

Steps in disciplinary employees

A

just remember consistency is key

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5
Q

Taft Hartley Act

A

Pro-management (federal): prohibits certain union practices

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6
Q

Fair Labor Standards act

A
  • minimum wage

* child labor laws

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7
Q

Job breakdown

A

How to do the job step by step

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8
Q

Job enrichment

A

add more tasks to advance in position, to gain more in a job

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9
Q

Market Niche

A

Need you are trying to fill (you use a poster to attract a certain clientle)

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10
Q

Loss Leader

A

Mis-Leading

For ex: coffee beans is .60 cents but special grinder is needed so customers must buy more

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11
Q

Family Medical Act

A
  • 12 weeks off unpaid leave
  • must have over 50 employees
  • guaranteed an equal job not the same
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12
Q

Liabilities

A

amount you owe to others

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13
Q

Marketing Mix

A

Product: signature item
Place: where are you offering it
Price: $
Promotion: ads, publicity, network

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14
Q

Grievances w/ union

A

if employee is not in a union, leaving position may be informal
if an employee is in a union, settlement needs to be formal; written in a contract.

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15
Q

Balance sheet

A

lists assets and liabilities at a specific time of day

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16
Q

assets (4 examples)

A

bonds, rental properties, equipment and physical inventory

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17
Q

QMI

A

quality management and improvement

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18
Q

TQM

A

Total quality management (more individual)

where is there improvement needed (customer satisfaction)

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19
Q

CQI

A

Continuous quality improvement (improvements in the organization)

20
Q

ADA compliances (4)

A
  1. Company must have >15 workers
  2. essential jobs
  3. isles must be 36’’ and doors 32’’
  4. have desks that can be lowered
21
Q

Social marketing

A

10% of sales will go here

good for the population

22
Q

Job enlargement

A

To alleviate boredom (adding more tasks)

23
Q

Sales

A

“income” “revenue”

24
Q

Six Sigma

A

Data driven approach using standard deviation to figure out how many errors have accrued and how to eliminate them

25
Q

Budget:

  • capital
  • cash
  • operation
  • performance
  • flexible
A

Capital: can we purchase this
Cash: are we making money
Operations: forecast sales the budget labor
Performance: can we afford to get us evaluated
Flexible: what is budget? what do we need to change

26
Q

Civil right acts

A

prohibits discrimination

27
Q

Wagner act

A

Pro-labor - right to union

- federal

28
Q

Lean method

A

Reduce cost w/ more profit (by using less human efforts)

29
Q

Fixed budget

A

Prepared at one level of sales or revenue (no expected changes)

30
Q

Flexible budget

A

adjusted to various levels of operation w/ varying levels of sales or revenues throughout the year

31
Q

Performance budget

A

details what it costs to perform a job (how much to supervise the cafeteria)

32
Q

HIPPA (full name)

A

health insurance portability and accountability

33
Q

Net worth ratio

A

long term debt

34
Q

Kaizen

A

“good change”

* things can always be better w/ small changes

35
Q

Direct costs

A

“variable and flexible”

- food, plates, repairs, benefits

36
Q

Business marketing

A

filling the needs of customers

37
Q

TQM uses __ cycle

A

PDCA
(plan do check act)
figure out problem and work on making it better

38
Q

Collective bargaining (steps)

A
  1. bargaining
  2. mediation
  3. Arbitration (binding)
39
Q

3 things when hiring someone

A
  1. job analysis: what is needed
  2. job description: what will the employee need to do
  3. job specification: qualifications
40
Q

Indirect costs:

A

“fixed”

- rent, taxes, insurance, salary

41
Q

Cost benefit

A

it is more based on the outcome or result

42
Q

Indicators:

  1. rate based
  2. sentinel
A
  1. assessing the pts on time

2. something you should never do (feeding an NPO pt)

43
Q

Semi-Variable costs

A

fixed and variable (labor, utilities and maintenance)

44
Q

Cost-effectiveness

A

“or” will be present

which program is better

45
Q

Liquidity

A

“solvency”

short term debt

46
Q

Unionization

A

collective bargaining (sky is the limit)

47
Q

Market segmentation (4)

A
  1. demographic: gender, age and income
  2. geographic: location
  3. Psychographic: social class/motives
  4. Behavioristic: occasion or loyalty

D3 (3 decks)

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