MIDTERM Flashcards
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.
INDUSTRY RELATIONS
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
EMPLOYEE RELATIONS
Ensures respectful resolution of disagreement and improved team dynamics
Workplace conflict management
Efective integration of new hires into a company sets the stage for future employer and employee relations
Employee onboarding
Constructive negotiations and dispute.
ensures fair treatment and contribute to a harmonious work environment
Labor relation
Prioritizing health and safety, fosters trust create a safe work environment, strengthens employer and employee relationship
Workplace health and safety
Managing unexplained or unnecessary absences, vital for maintaining fairness and consistency and postive employee relation
Absenteeism
Addressing employee disregard for authority or rules maintain a balance discipline and cultivating
Insubordination
Swift and fair response to an misconduct contributes to an ethical work environment and promotes trust among employees
Employee Misconduct
Understanding and addressing ________ needs improves relation by echancing productivity, loyalty and engagement
Employee Wellbeing
PSYCHOLOGICAL CONTRACT AND
WHY IT MATTERS
Community building among pears
Tenure and security
Corporate monility and promotions
Expansion of skillsets and training
Humane treatment
PSYCHOLOGICAL CONTRACT AND
WHY IT MATTERS
Work/ life balance or intergration
Voices heard thru suggestions
Impact and performance are duly rewarded
Flexibility on tasks and processes
Standards set for mutual
benefits:
Proactive and willing to learn
A team player willing to work with
others
Focussed on achieving the goals set by
the organization
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
Employee Job Satisfaction
coercive- punishment,
remunerative- financial reward, normative- symbolic
awards tied to values held by the company
Source of Power
Alienative negative or antagonistic, calculative- careful and
thoughtful of choices, moral- positive and in accordance
with norms set by the comopany
Force of involvement
commitment that can be distinguished with the psychological
bond of the employer that is held common norms and values.
ATTITUDE COMMITMENT:
commitment that can be described as going beyond expectations or loyalty to the company
BEHAVIORAL COMMITMENT:
Is a perspective on employment that emphasizes the shared interests of all members of an organization. It assumes there are compatible goals
UNITARISM
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.
The unitarist
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.
Pluralism
is often referred to as a process, strategy, or
software/technology that enables organizations
to manage relationships with their customers,vendors, and suppliers.
Customer Relationship Management
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
Customer Relationship Management
The business cannot satisfy all the customers that comes
and can slip away anytime. The challenge is how they
can hold them.
Customer Relationship Management
Developing new loyal customers. The challenge is how
business can achieve more value from new customers
and turn them into brand advocates.
Customer Engagement
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
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
Trends Why Customers Say No
Relative Price
Proximity
Proactivity to
customer needs
Hard to follow
instructions
Global
Competition
Cost
Customer Service Excellence
Urgent delivery of value.
- Personalized service to
customers. - Proactivity and exceeding
expectations. - Hospitality in all engagements.
- Transparency with the
customer. - Consistency in delivering value.
Are members of a collective that
share a common or shared identity.
Role as gatekeeper.
Types of Communities
Site Community
Impact Community
Employee Community
Fenceline Community
Interest Community
Cyber
Community
Strategies for Community Relations
Create sustainable community links
Aim to improve
the community
Types of Communities
Site Community
Impact Community
Employee Community
Fenceline Community
Interest Community
Cyber
Community
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
Objectives of Internal Control
Effective & Efficient Operations
Reliability of Financial & Non-financial Reporting
Compliance withapplicable laws and regulations
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
- The company establishes objectives with enough specificity to enable the
identification and assessment of risks to the objectives. - The company identifies risks to objectives and scrutinizes identified risks
to develop an action plan for risk treatment. - When evaluating risks, fraud is explicitly considered as part of the
assessment. - The organization anticipates and assesses any changes that may affect
internal controls.
- Risk Management
- The company commits to integrity and ethical values.
- The Board of Directors maintains independence from management
and oversees internal controls programs. - Management defines organizational structure, authority, reporting
lines, and responsibilities to execute on the company’s operational,
reporting, compliance, and business objectives. - The company prioritizes the recruitment, development, and retention
of capable, competent individuals aligned to internal controls
objectives. - The company establishes accountability for control responsibilities.
- Control Environment
- Control activities address and mitigate risks to the company’s
objectives. - The company establishes control activities over technology in line with
the company’s objectives. - Policies and procedures define the control activities that should be
taking place at the company as part of the internal controls program.
- Control Activities
- The company uses quality data and information to support control
objectives. - The company communicates relevant information, objectives,
assignments, accountability, and responsibilities for internal control
activities. - When necessary, the company communicates with external entities
regarding internal controls.
- Information & Communication
- Regular or ongoing evaluations occur to determine if the internal
controls program is operating effectively. - Any internal control deficiencies are reported timely to the accountable
parties, including the Board of Directors and upper management when
necessary.
- Monitoring Activities
Limitations of Internal Control
- Possibility of collusion
- Management override
- Human factors
- Cost benefits considerations
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
Are internal control procedures deployed and implemented for every major transaction and accounts of the company.
TRANSACTION-LEVEL CONTROL
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
Are those intended to avert the happening of negative events,
“Prevention is better than cure.”
PREVENTIVE CONTOLS
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
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
Computerized controls.
Are built into computer programs and systems intended to ensure system integrity, reliability and security.
AUTOMATED CONTROLS
examination intended to ascertain whether the management has conducted business operations effectively and efficiently.
OPERATIONAL AUDITS
examinations intended to determine whether the company or any of its department is able to adhere to prevailing laws
and regulations.
COMPLIANCE AUDITS
examinations focus on determining whether the company’s finance function as well as financial reports are accurate
and reliable.
FINANCIAL AUDITS
is an advanced certification although it is not mandatory requirement for one to be an internal auditor.
Certified Internal Auditors
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
