Q4 - Entrep Quiz 2 Flashcards
This is a process that includes everything from recognizing, recruiting, searching, shortlisting, interviewing, choosing, hiring, and onboarding staff.
Recruitment
6 stages in Recruitment Process
- Recruitment Planning
- Preparing for Job Description
- Talent Search
- Screening and Shortlisting
- Interviewing
- Evaluation and Offer of Employment
A conceptual framework that encourages the sustainability of a company and describe how it works, makes money, and how it aims to achieve its objectives.
Business Model
Strategic management and a startup template for the development of new business models or for documentation.
Most prominent popular tool that makes it simple for practitioners to design business models in a creative fashion.
Business Model Canvas
A document either soft or hard copy that records business dealing
Business Records
Shows the income and expenses of the business for a given period
Income Statement
Shows the assets, liabilities, and equity in the business for a given period of time
Balance Sheet
Financial Records
- Accounts Receivable
- Inventory Records
- Accounts Payable
- Sales Records
- Production Records
- Payroll Records
- Cash Records
The balance of money due to a firm for goods or services delivered or used but not yet paid for by customers
Accounts Receivable
Records used to control inventory items
Inventory Records
An account within the general ledger that represents a company’s obligation to pay off a short-term debt to its creditors or suppliers
Accounts Payable
The information you have on your customers, including but not limited to their contact information, how often they purchase from you, what they purchase, and how they pay their bills.
Sales Records
Records that provide a basis for your product costing and detect lost profits/costs as a result of idle manpower or machinery
Production Records
Show the total payments you pay your employees and provide a basis for computing some legal payments
Payroll Records
Show all receipts and disbursements made by your firm. They contain your firm’s cash flow and petty cash balances. These records also enable you to know when to time your loans and they may also be used as assurances for ready cash when needed
Cash Records
