MIDTERM Flashcards

1
Q

Synonymous and associated with collectives, such as mass movement of workers, trade unions and others

linked to “industrial” work, such as the manufacturing sector, labor, intensive tasks and factory working

though to be more focused “collective actions” such as COLLECTIVE BARGAINING AGREEMENTS

refers to a relationship between the employers and employees. The employers are represented by management
and employees are represented by unions.

A

INDUSTRY RELATIONS

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2
Q

The term revolves around a smaller subset of industries and goes beyod to collectives such as trade
unions

Focus not only on factory work, manufacturing jobs but includes the service sector/ non union entities,
part time, and contractual worker

refers to an organization’s efforts to create and maintain a positive relationship with
its employees

A

EMPLOYEE RELATIONS

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3
Q

Ensures respectful resolution of disagreement and improved team dynamics

A

Workplace conflict management

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4
Q

Efective integration of new hires into a company sets the stage for future employer and employee relations

A

Employee onboarding

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5
Q

Constructive negotiations and dispute.
ensures fair treatment and contribute to a harmonious work environment

A

Labor relation

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6
Q

Prioritizing health and safety, fosters trust create a safe work environment, strengthens employer and employee relationship

A

Workplace health and safety

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7
Q

Managing unexplained or unnecessary absences, vital for maintaining fairness and consistency and postive employee relation

A

Absenteeism

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8
Q

Addressing employee disregard for authority or rules maintain a balance discipline and cultivating

A

Insubordination

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9
Q

Swift and fair response to an misconduct contributes to an ethical work environment and promotes trust among employees

A

Employee Misconduct

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10
Q

Understanding and addressing ________ needs improves relation by echancing productivity, loyalty and engagement

A

Employee Wellbeing

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11
Q

PSYCHOLOGICAL CONTRACT AND
WHY IT MATTERS

A

Community building among pears

Tenure and security

Corporate monility and promotions

Expansion of skillsets and training

Humane treatment

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12
Q

PSYCHOLOGICAL CONTRACT AND
WHY IT MATTERS

A

Work/ life balance or intergration

Voices heard thru suggestions

Impact and performance are duly rewarded

Flexibility on tasks and processes

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13
Q

Standards set for mutual
benefits:

A

Proactive and willing to learn
A team player willing to work with
others
Focussed on achieving the goals set by
the organization

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14
Q

power, influence, control and freedom regarding the tasks given

self actualization, and fullfilment when doing their jobs

respect among peers and working relationship in the workplace

compensation

Recognition of personal vlaue

A

Employee Job Satisfaction

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15
Q

coercive- punishment,
remunerative- financial reward, normative- symbolic
awards tied to values held by the company

A

Source of Power

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16
Q

Alienative negative or antagonistic, calculative- careful and
thoughtful of choices, moral- positive and in accordance
with norms set by the comopany

A

Force of involvement

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17
Q

commitment that can be distinguished with the psychological
bond of the employer that is held common norms and values.

A

ATTITUDE COMMITMENT:

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18
Q

commitment that can be described as going beyond expectations or loyalty to the company

A

BEHAVIORAL COMMITMENT:

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19
Q

Is a perspective on employment that emphasizes the shared interests of all members of an organization. It assumes there are compatible goals

A

UNITARISM

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20
Q

sees employment as a relationship between members of a single social group, a
group with a common purpose or, to use a general will. The natural state of the relationship is
co-operation, without preconditions, in pursuit of the group’s aims and values.

A

The unitarist

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21
Q

is the belief that the way to achieve good industrial relations is to acknowledge that various groups of employees have different requirements, and make different demands. Thus,
management has to reach compromises. This belief also acknowledges conflicts and consider
them as desirable.

A

Pluralism

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22
Q

is often referred to as a process, strategy, or
software/technology that enables organizations
to manage relationships with their customers,vendors, and suppliers.

A

Customer Relationship Management

23
Q

Its goal is to build and maintain strong, long
lasting relationships with customers, enhance
customer satisfaction, and ultimately drive
business growth and loyalty.Customer Relationship Management

A

Customer Relationship Management

24
Q

The business cannot satisfy all the customers that comes
and can slip away anytime. The challenge is how they
can hold them.

A

Customer Relationship Management

25
Developing new loyal customers. The challenge is how business can achieve more value from new customers and turn them into brand advocates.
Customer Engagement
26
Businesses should consider to be warry on customers who can bring them down. It is important, somehow to select customers in some situations.
Customer De-selection
27
Reasons for Failure
Negligence of their concerns. False advertising Failing to meet customer standards Service incompetence Reasons for Failure Wrong pricing Blaming customer No methods of communication Service incompetence Reasons for Failure Not replying to customer queries Discrimination Insensitive marketing
28
Trends Why Customers Say No
Relative Price Proximity Proactivity to customer needs Hard to follow instructions Global Competition Cost
29
Customer Service Excellence
Urgent delivery of value. 2. Personalized service to customers. 3. Proactivity and exceeding expectations. 4. Hospitality in all engagements. 5. Transparency with the customer. 6. Consistency in delivering value.
30
Are members of a collective that share a common or shared identity.
Role as gatekeeper.
31
Types of Communities
Site Community Impact Community Employee Community Fenceline Community Interest Community Cyber Community
32
Strategies for Community Relations
Create sustainable community links Aim to improve the community
33
Types of Communities
Site Community Impact Community Employee Community Fenceline Community Interest Community Cyber Community
34
Refers to the processes, policies and procedures that organizations put in place to safeguard their assets, ensure the accuracy of financial information, and promote compliance with laws and regulations.
Internal Control
35
Objectives of Internal Control
Effective & Efficient Operations Reliability of Financial & Non-financial Reporting Compliance withapplicable laws and regulations
36
is a foundation of modern internal controls and fraud deterrence. This framework has been used to guide and help develop other existing compliance frameworks.
COSO framework
36
6. The company establishes objectives with enough specificity to enable the identification and assessment of risks to the objectives. 7. The company identifies risks to objectives and scrutinizes identified risks to develop an action plan for risk treatment. 8. When evaluating risks, fraud is explicitly considered as part of the assessment. 9. The organization anticipates and assesses any changes that may affect internal controls.
2. Risk Management
36
1. The company commits to integrity and ethical values. 2. The Board of Directors maintains independence from management and oversees internal controls programs. 3. Management defines organizational structure, authority, reporting lines, and responsibilities to execute on the company’s operational, reporting, compliance, and business objectives. 4. The company prioritizes the recruitment, development, and retention of capable, competent individuals aligned to internal controls objectives. 5. The company establishes accountability for control responsibilities.
1. Control Environment
37
10. Control activities address and mitigate risks to the company’s objectives. 11. The company establishes control activities over technology in line with the company’s objectives. 12. Policies and procedures define the control activities that should be taking place at the company as part of the internal controls program.
3. Control Activities
38
13. The company uses quality data and information to support control objectives. 14. The company communicates relevant information, objectives, assignments, accountability, and responsibilities for internal control activities. 15. When necessary, the company communicates with external entities regarding internal controls.
4. Information & Communication
39
16. Regular or ongoing evaluations occur to determine if the internal controls program is operating effectively. 17. Any internal control deficiencies are reported timely to the accountable parties, including the Board of Directors and upper management when necessary.
5. Monitoring Activities
40
Limitations of Internal Control
1. Possibility of collusion 2. Management override 3. Human factors 4. Cost benefits considerations
41
Are controls that are applied broadly at the company level and essentially effect the entire corporate culture as well as the functioning of transaction level controls.
ENTITY-LEVEL CONTROLS
42
Are internal control procedures deployed and implemented for every major transaction and accounts of the company.
TRANSACTION-LEVEL CONTROL
43
are controls that have tangible or physical characteristics. This includes, biometric devices, CCTV cameras, fire extinguishers, cash vaults, locks and keys, physical fences and warehouse storage facilities.
HARD & SOFT CONTROL
44
Are those intended to avert the happening of negative events, “Prevention is better than cure.”
PREVENTIVE CONTOLS
45
Are those controls intended to identify and uncover fraud, error, or noncompliance that might have already occured within the company. These are the second line of defense.
DETECTIVE CONTROLS
46
Bank Recons could be corrected through adjustments in the books of account. In fraud, determination of the amount of loss and the one who committed the fraud is identified. Sanctions should be implemented.
CORRECTIVE CONTROLS
47
Computerized controls. Are built into computer programs and systems intended to ensure system integrity, reliability and security.
AUTOMATED CONTROLS
48
examination intended to ascertain whether the management has conducted business operations effectively and efficiently.
OPERATIONAL AUDITS
49
examinations intended to determine whether the company or any of its department is able to adhere to prevailing laws and regulations.
COMPLIANCE AUDITS
50
examinations focus on determining whether the company’s finance function as well as financial reports are accurate and reliable.
FINANCIAL AUDITS
51
is an advanced certification although it is not mandatory requirement for one to be an internal auditor.
Certified Internal Auditors
52
They express opinion on truthfulness of the financial statements of the company. They focus on the fairness of corporate financial statements insofar as adherance to applicable accounting standards are concerned. This need to be accountants
External Auditing