HR & Management Flashcards
Exam prep
What is HR?
Human Resources is the person in a management team who hires other people, controls the training process, and plans any events that happen in the work place.
What dose the Human resources department control?
They are responsible for coordinating all employees activities, such as reviewing new applications and arranging pay for all employees.
What is the Labor market?
Where Employers (Buyers of skill) meet Employees (Sellers of skill)
What are Occupational forecasts?
Predictions about Jobs, to inform people of their future wages and conditions
Why is productivity important?
The more employees produce in the hours they work, the more profit a business can make.
Why is a positive attitude important?
Having a positive attitude increases productivity and helps employees enjoy their job more.
Why are skilled employees important?
Skilled employees help business save money because they can produce a better product or skill.
What is a staffing plan?
A series of steps to help business determine if they have the exact number of people they need for a role, and workers with the right set of skills to fill the needed positions.
Why does HR need a staff plan?
To avoid hiring people who do not fit the role that they need.
What is an employee turnover?
The rate at which employees leave or retire form a company/business.
What are the different ways to find a new employee?
Advertisements (News paper, Magazine etc.),
Notices (Collages and Universities mainly),
Postings on websites.
What do people submit to get a job?
A Resume, a cover letter, and an application form.
What is an Orientation?
The time when new employees take a tour of the workplace and meet their coworkers.
What happens during new employee training?
New employees receive training on new equipment and software, They are introduced to policies of a business, rules of behavior, and health and safety procedures.
What is discussed in an exit interview?
Future goals, feedback on the workplace, and ways for improvement. Sometimes a letter of recommendation.
What happens when a employee is dismissed?
They get a severance package, and outplacement counselling which allows terminated employees to get new Jobs through their old Job.
What is retirement?
When an employee voluntarily withdraws from their work.
What is compensation?
The money and benefits that employees get for their work.
What are hourly wages?
A payment method where employees get minimum wage per-hour that work.
What is Overtime?
A higher hourly rate for working longer than the regular scheduled time or on holidays
What is a salary?
A fixed amount of money paid to employees on a regular schedule which is normally weekly or monthly.
What is commission?
Pay based on the amount of sales generate.
What is salary plus commission?
A small amount of money added onto an employees salary or hourly wage to help encourage productivity and employees to work harder.
What is Incentive Bonus?
When employees perform well, they may be rewarded with bonuses.
What is Performance-based Pay?
Piecework is performance-based pay that is calculated on how much
product can be made by one person.
What are sweatshops?
Piecework factories characterized by low wages and unsafe or unhealthy conditions.
What is a fee for service?
A job is paid by one fee, which is normally documented in a signed contract.
What is a royalty fee?
The fee paid to the owner of a patent or copyright by someone who uses it.
What is a licensing fee?
Money paid to obtain a license.
What are stock options?
a form of compensation that gives employees the opportunity to buy shares in the company at a lower-than-market price.
What is health and safety?
Laws that require business to provide and maintain a healthy and safe work environment.
What does a company loose when an employee becomes sick?
The employees skills and productivity, and money due to paying the employee sick pay.
What is the Canada labor code?
Employees have the right to , be informed about known and foreseeable hazards in the workplace, identify and resolve job-related problems in safety and health, refuse dangerous work if they have reasonable cause to believe that a situation constitutes a danger.
What is the universal declaration of human rights?
The source of workplace rights available to employees and employers.
What can employers do?
Hire, dismiss, and promote employees, and they can establish conditions of employment that best serve their business goals such as salary and wages.
What has the conference board of Canada created?
A list of employability skills including academic skills, personal management skills, and teamwork skills.
What are academic skills?
Allow you to obtain, retain, and progress on the job.
What are personal management skills?
People who can demonstrate skills, positive attitudes and behaviors and responsibility
What are teamwork skills?
Organizational goals, employees need to work collaboratively with one another in the workplace.
What is general business?
High-school education is usually the minimum requirement for entry-level jobs in business.
What are accounting careers?
(CPA) Certified Professional Accountants - must be certified by completing hours of experience and an examination.
What is a consulting career?
Individuals who are paid by businesses for their expertise and advice on specific topics.
what is entrepreneurship?
Applying skills and invest in capital to create unique businesses that meet the needs and wants of consumers.
What are production careers?
Careers in production of products from engineering management ,quality control, inventory analysis and management, logistics, supervisors overseeing production, purchasing, sales, and many more
What are international businesses?
Businesses that can export, import and sell all over the world.
What are management Careers?
Leaders in a company that plan, organize, lead and control.
What are information communication technology careers?
Companies that are seeking skills in information communication technology / computer programming , software development, website management, project management
What are financial careers?
Involves looking after and giving advice about other people’s investments or assets and credit
What is Ecommerce?
Starting your own business on the Internet or your company website.
What are marketing careers?
Strong communication skills, and a creative edge. Advertising, promotions, packaging, event planning, purchasing, publicity, retail, product development, market research, logistics, sales.
What is a personal selling career?
Retail sales ,route sales, contact sales, agent, broker, sales engineer, auctioneer, ect.
What is planning?
Setting realistic long-term and short-term goals and how you are going to achieve them.
What are assets?
Owns
What are Liabilities?
Owes
What are the four major functions of management?
Planning, Organizing, leading, and controlling
What is Organizing?
Arranging people and tsks to carry out the business’s plans and objectives.
What are the three levels of Management?
Upper Management, Middle Management, and Low-level Management
What is Upper Managements role?
Long term goals like products, markets, and business organizing
What jobs are upper Management?
Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operating Officer (COO), Chief Technology Officer (CTO), Vice President (VP), and marketing
What is Middle Management in charge of?
Interprets plans & sets actions
What do Lower-Level Management jobs do?
Implements plans
What does an Organizational Structure do?
- Identifies each employee, their function and who they report to (their roles)
- Outline how activities work towards goals
What is Leading?
Manager who achieve organizational goals by motivating, communicating, and encouraging participation
What is Controlling?
Employee discipline, performance
appraisals, and budgeting.
What is Purchasing?
Negotiating with suppliers for the supply and delivery of raw materials, equipment, supplies, and goods for resale.
What is Production?
Processing raw materials into a final product to packaging and storing the same product.
What is Marketing and Distribution?
Using sales strategies, marketing and distribution managers to ensure that the company’s products are sold.
What is Research and Development?
A department that creates new products or services or develop new and improved ways to produce the original product or service.
What is Finance?
Keeping records of the company’s financial transactions and money control.
What is an Autocratic Leadership?
When leaders make all of the decisions by themselves and they do not let their employees have a say in anything that happens in the workspace.
What is a Laissez-faire Leadership?
A leader who leaves employees alone to do their work.
What is a Democratic Leadership?
A Leader who encourages employees to have a day on the decision making process.
How are Managers and Employees connected?
Managers are the role models in an organization so they have to set an example for their employees.
How are managers and the Environment connected?
Managers can make big decisions that impact the environment that is around them.
How are Managers and the Community connected?
Managers make ethical decisions everyday that can impact the community.
What are the types of teams?
Committee, Task force, Virtual team, Informal team, Self-managed work team, and a Cross-functional team.
