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CDR Exam > FS Management- Domain 3 > Flashcards

FS Management- Domain 3 Flashcards

1
Q

Maslow’s Hierarchy of Needs

A

Determinants of behavior motivated by the desire to satisfy specific needs

  • Basic needs: pay, benefits, working conditions, schedule, insurance, retirement, security
  • Higher Human needs: social (organized activities), self-esteem (job title, rewards, promotion), self-actualization (realizing own potential => advanced training, job enrichment)

When basic needs are met, higher needs become motivators

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2
Q

Herzberg’s Two-factor Theory (Motivation and Maintenance Approach)

A

*Maintenance (hygiene factors)=> keep employees satisfied with factors like fair wage, insurance, retirement benefit, interpersonal relationships on the job, schedule, working conditions, etc. => if present, perceived as good = satisfiers / if lacking, perceived as negative = dissatisfiers and will interfere with work, does not produce motivation
=>Maintain minimal level of need satisfaction

*Motivators = call forth energy and enthusiasm, job enrichment => achievement, personal accomplishment, recognition, responsibility, participation in decision-making, opportunity for growth

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3
Q

McClelland’s Achievement (Power-affiliation Theory)

A

Three “L” in McClelland = 3 needs; achieve, power, affiliation
*Suggests that all people have three needs: the need to achieve (desire to do something better or more efficiently, task-oriented, manage self), need for power (enjoy competition and seek confrontation), and a need for affiliation (desire to be liked by others, join groups)

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4
Q

MacGregor Theory

A

Attitude of the manager toward employees has an impact on job performance => based on manager’s assumptions as to how employees view work

  • Theory X (authoritarian/autocratic, negative, work-centered) = people dislike work and will avoid it if possible, workers prefer to be controlled and directed by pressure, motivation through fear
  • Theory Y (positive, participative) = work is as natural as play or rest, management should arrange conditions so workers can achieve goals by directing own efforts
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5
Q

Hawthorn Studies (Western Electric, Elton Mayo)

A

If you involve people in the process, they become more productive => productivity due to: employees were given special attention, were involved in an interesting experience, and were well treated by supervisors => work breaks increase productivity => placebo effect: special attention improves behavior

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6
Q

Expectancy Theory (Beer, Vroom)

A

Rewards serve as motivators only under certain circumstances => employees must believe that effective performance leads to certain rewards, employees must feel that reward offered are attractive

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7
Q

Path-Goal Theory (Evans, House)

A

Focuses on leader’s effect on employee’s motivation to perform => motivation to behave in a particular manner is the result of an expectation that a behavior will result in a particular goal and how strongly a person desires the goal

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8
Q

Autocratic Leadership

A

demands obedience, most control, full responsibility

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9
Q

Consultative Leadership

A

asks for input, but makes final decision alone

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10
Q

Bureaucratic Leadership

A

by the book, follows procedures to the letter

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11
Q

Participative Leadership

A

encourage workers to participate, in decision-making, democratic: accepts decision made by the group

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12
Q

Country club Management

A

employee-centered, seeking approval and acceptance, comfortable, friendly atmosphere
1,9 on Leadership Grid

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13
Q

Team Management

A

high concern for people and production, common stake in purpose
9,9 on Leadership Grid

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14
Q

Impoverished Management

A

exert minimum effort to get work done, low concern for people and production
1,1 on Leadership Grid

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15
Q

Authority, Obedience, Autocratic Management

A

focus on production, managing tasks, domination, mastery, control => people are commodities like machines
9,1 one Leadership Grid

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16
Q

Likert- Management of Conflict

A

4 basic systems of organizational leadership

  • exploitive (autocratic) => job-centered
  • benevolent (autocratic) => job-centered
  • consultative=> employee-centered
  • participative (most effective) => employee-centered
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17
Q

Peter Principle

A

promote someone to a level of incompetence => manager competent in position get promoted to CEO, promoted to a level not competent in

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18
Q

Traditional or Classical

A

formal structure that organizes and administers the work activities, coordination is main responsibility of management, focus on tasks/structure/authority

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19
Q

Scalar Principle

A

authority and responsibility flow in a direct line vertically from the highest to lowest management

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20
Q

Behavioral (human relations) Theory

A

uses behavioral sciences, workers exist in social groups

employee participation in decision-making is essential, improves morale and productivity

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21
Q

Theory Z (Ouchi)

A

the value of the company is the people, everyone who will be affected by a decision is involved in making the decision

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22
Q

Systems Approach

A

system is an organized whole composed of interdependent parts called subsystems => classified according to their purpose: procurement, production, distribution of service, safety and sanitation
*management approach to considering the entire organization when making decisions or allocating resources

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23
Q

Leadership Continuum (Tannebaum and Schmidt)

A

developed continuum or range of possible leadership behaviors=> each type of behavior is related to the degree of authority used by the manager and amount of freedom available to subordinates in reaching decisions

Tells decision—Sells decision—Discusses decision—Asks for input on decision—Collaborates on decision—Delegates responsibility for decision

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24
Q

Contingency Approach (Fiedler)

A

In both highly favorable and highly unfavorable situations, a task-oriented leader is more effective.
In moderately favorable situations, a relationship-oriented leader tends to be more effective because cooperation is more successful than task-oriented leadership.

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25
Q

Leadership Effectiveness Model (Hersey, Blanchard, Johnson)

A

Readiness of followers and recommended leadership styles

  • Readiness=> desire for achievement, willing and able to accept responsibility, skills relevant to task
  • Leadership style=> tell, sell, participate, delegate

Low readiness = tell
Low to moderate readiness = sell
Moderate to high readiness = participate
High readiness = delegate

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26
Q

Scientific Management (Taylor)

A

work-centered: workers must work at fastest pace possible and at maximum efficiency, systematic approach to improving worker efficiency, structure work situation to minimize motivation needed by supervisor, FOCUS ON PHYSICAL ASPECTS OF THE JOB

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27
Q

Management by Objective MBO (Drucker)

A

type of democratic management that provides control from within, establish performance goals WITH employees, gives higher incentive value, PARTICIPATIVE LEADERSHIP

28
Q

Transactional Leader

A

clarifies roles and responsibilities, uses rewards and punishments to achieve goals

29
Q

Transformational Leader

A

agents of change, inspire followers to become motivated to work towards organizational goals rather than personal gain, builds on and extends transactional leadership

30
Q

Technical skills

A

understanding of and proficiency in a specific kind of activity=> most important at lower levels of management

31
Q

Human skills

A

ability to work effectively as a group member=> important at all levels but imperative at lower management levels

32
Q

Conceptual skills

A

ability to see organization as a whole=> importance increases at higher ranks of management

33
Q

Reward Power

A

ability to reward another for carrying out an order, give incentives, praise to reinforce certain behaviors

34
Q

Coercive Power

A

negative side of reward power, ineffective in motivating behavior change, may create resistance, ability to punish another for not carrying out requirements, used to maintain minimum standards of performance

35
Q

Position/Legitimate Power

A

subordinate acknowledges that the influencer has the right to exert influence due to position

36
Q

Expert Power

A

belief that influencer has some relevant expertise that the subordinate does not, credibility

37
Q

Referent Power

A

based on desire to identify with or imitate the influencer, how well you are liked

38
Q

Operating Budget

A

forecast of revenues, expenses, and profit for a specific period of time
to operate a certain event

39
Q

Cash Budget

A

projects revenues and expenses, showing inflow and output of cash
purpose is to determine if funds will be available when needed
Do we have cash for this?

40
Q

Capital Budget

A

plant facilities, equipment, cost of improvements and repairs, expansions, replacements
Includes expenditures whose return are expected to last beyond one year

41
Q

Traditional budget

A

uses existing budget as base and projects changes for the ensuing year in relation to the current budget, usually begins with this year’s expenses plus inflation factor

42
Q

Zero-based budget

A

NOT this year’s expenses, begin at 0, must justify each expense, past dollar allocations are NOT the basis of projections

43
Q

Fixed budget

A

prepared at one level of sales or revenue, no expected major change

44
Q

Flexible budget

A

adjusted to various levels of operation with varying levels of sales or revenues throughout the year, gives dollar range for low to high levels of predicted activity

45
Q

Performance budget

A

details what it costs to perform an activity

46
Q

Inventory turnover rate

A

cost of sales (food costs) / average inventory cost

47
Q

Food cost percentage

A

daily food cost / daily income

48
Q

Food cost per meal

A

(beginning inventory - ending inventory) + food purchases / meals served

49
Q

Profit Margin

A

net / sales

50
Q

Net Profit

A

sales - expenses

51
Q

Gross Profit

A

sales - cost of sales

52
Q

Breakeven Point in Units Sold

A

BE = fixed costs / selling price - variable cost

53
Q

Breakeven Point is Sales Volume

A

Graph format

fixed costs / 1 - (variable costs / sales)

54
Q

Factor Pricing method

A

MU (mark up) x Raw food cost

MU = 100 / food cost %

55
Q

Prime cost method

A

USES LABOR COST

  1. Raw food + Labor cost = X
  2. Food % + Labor %
  3. 100 / (food% + labor%) = Y
  4. Y x X
56
Q

Cost of profit pricing

A
  1. Add the costs: cost of labor + food cost
  2. Subtract from 100: 100 - (cost of labor + food cost) = Y
  3. food cost / Y
57
Q

EP + AP: When question says “cost” or “$”

A

EP > AP

AP / EP x yield%

58
Q

EP + AP: When question says “pound” or “weight”

A

AP > EP

EP / AP x yield%

59
Q

Cost-benefit

A

determines whether the goal of the intervention is worthwhile in terms of cost, value of the benefits derived from the intervention must outweigh the costs

ex: change in food habit or diet as a result of counseling, saving of physician’s time and other resources due to prevention or reduction in severity of disease

60
Q

Cost-effectiveness

A

assumes that the goal of the project is worthwhile, compares costs of alternative strategies, systematically considers clinical, costs, and patient outcomes of various interventions to determine which ones are effective and which are not

61
Q

Total Quality Management TQM

A

philosophy where processes are refined with goal of improving performance in response to customer needs and expectations
3 elements: customers/clients, culture, counting
FOCUS-PDSA

62
Q

Continuous Quality Improvement CQI

A

emphasized organization and systems rather than individuals, ideal that systems and performance can always improve, uses outcome assessment

63
Q

Six Sigma

A

data-driven approach for improving quality by removing defects and their causes, determine how many errors occur in a process, determine how to eliminate them and get as close to zero as possible

64
Q

Kaizen “good change” philosophy

A

suggests making continuous and small incremental improvements in a process on a daily basis rather than large changes, processes that continuously improve operations and involve all employees

65
Q

Lean Method

A

uses less human effort, less space, less capital and less time to make products with few defects, use videotaping and stopwatches to capture work bein done, reorganize workflow, duties and practices, reduce costs, increase customer satisfaction

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