Performance indicators Flashcards
(46 cards)
Evaluate quality and source of information (CS)
should determine who the intended audience is, if the data provided is fact or opinion and if a credible author is attached to the information. Further, factual documents should be supported with evidence including primary and secondary information. Quality information should be timely.
Information Management
Describe sources of securities information (CS)
financial institution. The U.S. Treasury Department provides information at www.treasury.gov and the TreasuryDirect.gov website. The U.S. Securities and Exchange Commission can be found online at www.sec.gov and state governments often have a securities division within their treasury departments.
Financial Analysis
Explain the role of ethics in financial-information management (SP)
employee in financial information management is to manage assets in order to keep a business healthy. This requires investing wisely and transparently and managing a business’ cash flow to create optimum profit.
Financial-Information Management
Describe the concept of insurance (CS)
potential future losses in exchange for a periodic payment (premium). This protects the financial standing of an individual or company in the case of unexpected loss. A policy holder can be responsible for paying part of a loss (a deductible) and the insurer pays the rest.
Financial Analysis
Explain the role of business in society (CS)
conduct operations so that they are performed profitability and accepted by society.” In summary, “the role of business in society is a coherent way of thinking about a company’s impact and interaction with society.” Niall Fitzgerald KBE and Mandy Cormack, The Role of Business in Society: An Agenda for Action; Harvard John F. Kennedy School of Government
Economics
Explain the nature of operations (CS)
Operations include the activities involved in the daily functions of the business to generate revenue.
Operations
Discuss legal considerations affecting risk management (SP)
Risk management oversees compliance with industry regulations, laws and business rules. To avoid legal consequences, appropriate training must be provided to employees to manage this risk.
Risk Management
Identify desirable personality traits important to business (PQ)
person’s emotions, motivations, interpersonal interactions and attitudes. Highly desired personality traits most often include professionalism, being “high-energy”, confidence, the ability to work independently and intellectual curiousity.
Emotional Intelligence
Explain the role of ethics in human resources management (SP)
promote workplace cohesion, establishing standards and procedures that assures in all situations that individuals are treated equally. Ethics policies in the area of human resources can include discrimination, sexual harassment and treatment of employees. Ethical breaches in this area can damage a company’s reputation, reduce employee loyalty and create litigation.
Human Resources Management
Discuss the nature of information management (CS)
Information management is the process of collecting and analyzing data that can be used in the strategic decision making process for a business. This can support a variety of business functions including developing customer databases, managing electronic purchasing decisions and monitoring competitor information.
Information Management
Maintain appropriate personal appearance (PQ)
Maintaining your personal appearance is necessary as employees represent the business in which he/she is employed. Personal appearance includes facial expressions, body language, as well as clothes and grooming.
Professional Development
Discuss the nature of human resources management (CS)
Human resource management is a process of bringing people and organizations together so that the goals of each are met. This includes a focus on: results rather than on rules; helping employees develop his/her full potential; encouraging employees to give his/her best to the organization; assigning people to jobs in order to produce good results; helping the organization meet its goals in the future by providing for competent and well-motivated employees; building and maintaining positive relations between people working at various levels in the organization.
Human Resources Management
Orient new employees (CS)
Providing an orientation is a process that allows an organization to integrate a new employee and enable him/her to contribute to the team quickly. At this time, an employee will learn about personnel policies, company safety programs, and details about his/her position. Possible actions can include providing a mentor, providing work samples, and providing a Frequently Asked Questions document.
Human Resources Management
Explain the concept of management (CS)
Management is the coordination of activities a business uses to achieve results. According to management expert Peter Drucker, this includes both marketing and innovations.
Strategic Management
Explain the nature of project management (SP)
Project management is using knowledge, skills and techniques to execute a temporary group activity designed to develop a product, service or outcome both effectively and efficiently. There are five processes needed in project management: initiating, planning, executing, monitoring and controlling and closing.
Operations
Explain the factors that influence customer/client/business buying behavior (SP)
Buying behavior explains the purchase decisions that consumers make on a daily basis. As a business function, this means understanding what consumers buy, why a consumer has decided to make that purchase, when the purchase was made and from what distribution channel and how often the product or service is used. Buying behavior can be influenced by a variety of internal and external factors including perception of brand, competition, society and consumer research.
Marketing
Explain the role of finance in business (CS)
The role of finance in business is to help capital move from investors to businesses. Businesses need finance to assist with operations. This is possible through financial markets and various investment vehicles including loans, and short and long term financing. Finance can also include roles in business development and corporate governance.
Financial Analysis
Explain the types of economic systems (CS)
There are four types of economic systems commonly studied. A traditional economy relies on custom and ritual to make its choices. A market economy relies on the consumption choice of consumers. A command economy relies on the government making all choices for consumers. A mixed economy relies on limited government involvement in a market based economy.
Economics
Describe the nature of legally binding contracts (SP)
A contract that is legally binding is considered valid and enforceable in a court of law. A contract is a clear outline of an agreement between at least two parties. Usually contracts define each party involved and any terms used within the agreement, the duration and/or timelines of the contract, payment terms and provisions that protect each party. Legally binding contracts are required to have “consideration” which means both parties are willingly entering into the agreement and are not being coerced.
Business Law
Explain the nature and scope of financial-information management functions (SP)
The purpose of the financial-information management function is to oversee the financial resources of an organization. This includes determining what a company needs for capital (which funds should be used for investment), cash (what purchases should be made and at what time) and control (providing analysis of financial statements).
Financial-Information Management
Explain the nature and scope of financial globalization (SP)
Financial globalization is the worldwide development of economic, financial, trade and communication integration. This pushes business executives to consider broad views in the global marketplace as countries, and their economies, become interconnected and interdependent.
Financial Analysis
Discuss legal consideration in the finance industry (SP)
One of the recent legal actions taken in the finance industry was the 1999 Gramm-Leach-Bliley (GLBA) Act that protected consumer information and prevented data breaches. Consumer privacy as described in the GLBA act will continue to evolve as consumer privacy needs are addressed. Another recent legal action taken is the U.S. Securities and Exchange Commission (SEC) wanting to impose fees on market data (information on trades in U.S. financial markets). While the SEC’s responsibility is to keep trade fair and equitable, many financial institutions are against this added cost to investment.
Business Law
Analyze employer expectations in the business environment (PQ)
When employed in an organization, an employee should understand what management requires of him/her within his/her position, thus allowing an employee to meet and/or exceed those demands.
Professional Development
Exhibit cultural sensitivity (CS)
A cultural sensitive employee will value diversity, be willing to adapt communication and behavior to be compatible with another’s cultural norms and be willing to learn traditions and characteristics of other cultures.
Emotional Intelligence
