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FNS 400 > Quiz 2 > Flashcards

Quiz 2 Flashcards

1
Q

What is the goal of HR department

A

Perform variety of functions to attract and maintain an effective workforce

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2
Q

what is the management process of human resources?

A 
Recruiting
Selecting
Orienting
Training
Developing
Compensating
Supervising
Evaluating
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3
Q

What does Corporate culture focus on in Traditional Focused HR?

A

Productivity, profit, individual performance

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4
Q

What does Corporate Culture focus on in Total Quality-focused HR?

A

Quality, customer satisfaction, collective/team performance, coaching/enabling leadership, preventing problems, employee-focused programs

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5
Q

What are jobs characterized by in Traditional focused HR?

A

limited job skills, standard procedures, efficiency, top-down communication

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6
Q

What are jobs characterized by in Total quality-focused HR?

A

autonomous, empowered teams, problem solving skills, innovation, customization, quality, multidirectional communication

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7
Q

What is performance measured by in Traditional focused HR?

A

individual goals, individual effort, financial performance, supervisory review

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8
Q

What is performance measured by in Total quality-focused HR?

A

collective, team effort, team goals, quality and service, input from all team members

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9
Q

what is Human Resource Planning?

A

anticipating and making provision for the movement of people into, within and out of an organization.
Using people effectively.
Having available the required number of people with qualifications for positions when openings occur.

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10
Q

HR planning should….

A
  1. fit with strategic plan of the organization
  2. consider current employee skills, abilities, knowledge
  3. consider future employees training and development needs
  4. consider wages and benefits required to attract qualified employees
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11
Q

what is needed to balance supply and demand of employees?

A

forecast supply and demand - how many staff are needed to fill duties
recruit that amount of staff
supply analysis (internal vs. external supply)
new employees hired / current employees trained
OR switch to labour saving methods

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12
Q

What is job analysis?

A

process of obtaining information about jobs by determining the duties, tasks or activities. Used to create job descriptions / specifications

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13
Q

What is included in job specification?

A

List of abilities, skills and other credentials needed to perform the job.
REQUIREMENTS for the job (includes knowledge/skills, personal qualities, background experience, working conditions)

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14
Q

What is included in job description?

A

Includes job title, job identification, job duties/responsibilities.

Tasks, responsibilities, duties of a job.
working conditions, tools, materials, equipment used.

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15
Q

What is job design?

A

structuring jobs to improve organization efficiency and employee satisfaction (based on characteristics of employee matching the characteristics of the job).

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16
Q

What is job enlargement?

A

increasing the total number of tasks employees perform

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17
Q

What is job enrichment?

A

redesign the job to increase opportunities for employees to experience feelings of responsibility, achievement, growth, recognition and performance.

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18
Q

What is job characteristics?

A

redesign components of the job to improve motivation, job satisfaction and efficiency.

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19
Q

What are 5 dimensions of job characteristics?

A 
Skill variety
task identity
task significance
autonomy
feedback
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20
Q

What are affirmative actions?

A

conscious and proactive effort by organizations with government contracts to ensure employment of qualified minorities and women in proportion to their representation in the relevant labour market.

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21
Q

What are factors of diversity management?

A

Pursuing an inclusive culture
creating a supporting culture
valuing individuals and their needs and contributions
encouraging the continued development of a diverse workforce

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22
Q

What are the laws that impact HR management?

A

Employment Equity Act

Ontario Human Rights Commission - Human Rights Code

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23
Q

What does the Employment Equity Act say?

A

Equal employment opportunities to four designated groups: women, Indigenous persons, people with disabilities, and members of visible minority groups.

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24
Q

What does the Ontario Human Rights Commission - Human Rights Code say?

A

under the code, every person has the right to be free from discrimination on the basis of ….age….marital status… gender… etc. etc.

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25
Q

What is the recruitment process?

A

aka: Sourcing - process of locating and encouraging qualified potential applicants to apply for existing or anticipated employment openings

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26
Q

What is inside recruitment? Pros / cons?

A

INSIDE: promotions / transfers.
Pros: increased morale, motivation, protects employees from layoff, improves ROI from hiring employees, they are familiar with organization’s goals/values/operations.
Cons: sometimes won’t be good at new job, new ideas are not brought into organization.

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27
Q

What is outside recruitment?

Pros / Cons?

A

OUTSIDE: hire someone from outside the organization because current staff lack education/training/experience desires.
Pros: new perspectives and new energy
Cons: costly and time consuming

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28
Q

Where can new jobs be promoted?

A 
Word of mouth
Websites
Professional associations
schools
recruitment agencies
job fairs
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29
Q

What is the selection process?

A

compare applicant skills, knowledge and education with the requirements of the job. (decision of organization and applicant).
Process should conform to ethical standards, including privacy and legal requirements.

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30
Q

What are the stages within the selection process?

A 
Application and screening
checking background and references
interviewing
hiring decision
physical examination
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31
Q

What happens in the application and screening phase?

A

indication that the applicant is interested
provides the interviewer with basic information to conduct the interview
becomes a part of the employee file, if applicant is hired

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32
Q

What are different types of interviews?

A

Structured (same questions for all interviewees)
Unstructured (allows freedom to ask questions that are important based on information given by applicant, broader questions)
Situational (asks what behaviours would be displayed in a hypothetical situation)
Behavioural (encourages descriptions of behaviours they have displayed in a given situation)

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33
Q

What are some things that cannot be asked about in an interview?

A

age, race, religion, national origin, family status, disability.

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34
Q

What are some things that can be asked about in an interview?

A

skills, competencies, previous experience, salary expectations.

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35
Q

What are background checks, and what are they for?

A

criminal record, vulnerable sector check.
Reference checks (employment verification, personal references)
Inadequate reference checks is one of the major causes of high turnover, employee theft and white collar crime.

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36
Q

What is a medical examination for?

A

directly related to job requirements.
i.e. blood tests for immunity in hospitals.
Only completed once applicant is hired.

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37
Q

Describe the hiring decision / offer of employment

A

most critical step in selection process. Offer of employment contains: job title, details of job, working arrangements, start date, shift and location, salary/wages, and time limit for applicant to reach decision.

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38
Q

What is the orientation process for?

A

formal process of familiarizing new employees with organization, job and work unit.
Provide new employees with information they need to function comfortably and effectively in the organization.

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39
Q

What does orientation include?

A

Review of organization and how the employees job contributes to the overall objectives.
Specific information on policies, work rules and benefits
General information about daily work routine

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40
Q

What can poor training result in?

A

low productivity, mistakes, poor morale grievances, high waste, customer complaints and lost revenue.

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41
Q

What can good training improve for an individual?

A

skills, quality of the workforce, employee growth, attitudes align with organizational values, teach new methods, knowledge of health and safety information.

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42
Q

Describe the two types of development programs

A

ON-THE-JOB: training an employee by having them work with another employee. e.g. job rotation.
OFF-THE-JOB: training occurs outside the workplace. e.g. seminars, courses, literacy programs.

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43
Q

What are performance appraisals

A

comparison of an individuals performance with established standards for the job.
Provides basis for various types of personnel actions

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44
Q

What happens within appraisal interviews?

A

employee and employer can discuss performance.
identify some strengths and areas for improvement.
discuss way to meet performance standards.
set objectives and create personal development plans.
discuss possibilities for future job assignments and salary recommendations.

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45
Q

What are different types of personnel action?

A

Promotion (change of assignment to a job at higher level in organization)
Demotion (… to lower level..)
Transfer (… to same level..)
Separation (voluntary or involuntary)

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46
Q

What is discipline?

A

Action against an employee who fails to conform to the policies or rules established by organization. Establish a minimum standard of performance behaviour.

47
Q

What are the stages of discipline?

A
  1. unrecorded oral warning
  2. oral warning with notation in employee file
  3. written reprimand
  4. suspension
  5. termination
48
Q

What is compensation?

A

financial remuneration to employees in exchange for their work.
DIRECT: salaries and wages
INDIRECT: benefits, vacation, insurance.

49
Q

Describe wage mix

A

combination of internal and external factors that can influence the rates at which employees are paid.

50
Q

What are internal and external factors of wage mix?

A

INTERNAL: job’s worth, employee’s worth (labour market/supply and demand), employer’s ability to pay.
EXTERNAL: government, cost of living, labour market, area wages, collective bargaining.

51
Q

What are benefits & give some examples

A 
non-cash rewards given to employees as part of their employment agreement.
Legally required benefits (CPP, EI)
health and dental insurance
retirement
paid time off (PTO)
employee services
52
Q

What are modular plans?

A

allows employees to select from a list / levels of benefits

53
Q

What are core plus plans?

A

usually consists of a core of essential benefits that all employees receive and an array of benefit options that employees can select

54
Q

What are flexible spending amount plans?

A

set amounts employees can use to pay for selected items such as childcare, medical care, health club memberships.

55
Q

What is staffing vs. scheduling?

A

Staffing: determines the appropriate number of employees needed for the work that must be accomplished
Scheduling: having the correct number of workers on duty; assigning employees to specific work hours and days.

56
Q

What are staffing indices?

A

help managers determine staffing needs.

Full time employees -> staffing needs are expressed in FTEs (full time equivalents, typically 8 hrs/day or 40 hrs/week).
Absolute FTEs indicate the number of FT staff needed
(number of hours to operate divided by 40 hours)

57
Q

What are relief employees for?

A

Help reduce the amount of FT staff needed (and therefore possible overtime hours)
*part time employees
work < 35-40 hrs/week
can use split-shift scheduling

58
Q

What are temporary employees for?

A

Help fill short term staffing needs. Expensive! Hired from professional temporary employment agencies.

59
Q

What is the key factor in increased labour cost?

A

Uncontrolled overtime hours worked.

60
Q

What are the three types of schedules?

A

Master (shows employees days of work; overall plan for employee scheduling)
Shift (shows daily staffing pattern in blocks of time)
Production (identifies tasks to be completed in the production of a meal or service)

61
Q

What are some examples of alternative work schedules?

A

Compressed work week
Discretionary working time / flex time
[Staggered start &
flexible working hours]

62
Q

Describe compressed work week schedule

A

change in days holds the total hours constant, but reduces the number of days worked.
Employees may work a 4-days week, but 10 hours per day

63
Q

Describe discretionary / flex time work schedule

A 
modifications to the standard workweek: 
Staggered start (decide when to start their fixed-hour work day)
Flexible work hours (organization defines hours, employees may select their start time)
64
Q

Define job sharing vs. job splitting

A

Job Sharing: single job is divided and shared by 2 or more employees, each of whom must be capable of performing the entire range of tasks in the job description
Job splitting: tasks that constitute a single job are divided, with subsets of different tasks assigned to two or more people

65
Q

What are labour relations?

A

Interaction between management and labour union.

Negotiation for the settlement of the terms of a collective agreement between an employer and a union.

66
Q

What are some reasons for joining a union?

A

Job, social or political reasons (i.e. dissatisfaction with management because of job security, compensation or management attitude)
Since power to bargain with employer is low, employees join together as one collective voice.

67
Q

What is collective bargaining?

A

negotiation between management and the union on terms of the collective agreement between them

68
Q

Why are labour relations important?

A

unions challenge the ability of managers to direct and control the various functions of HR management.
(i.e. may influence who is selected for job promotions, pay rates may be determined by union negotiations).
Labour relations is a specialized function of HR to which employers must give consideration.

69
Q

What are common bargaining issues in collective bargaining agreement?

A

Economic issues (pay, shifts, OT, benefits)
Job security (income protection, lay-offs, promotions, transfers, unemployment and severance pay)
Working conditions (work schedules, health & safety)
Management rights issues (right for management to give direction and discipline)
Individual rights issues (grievance procedures)

70
Q

If union and labour relations are not able to agree during collective bargaining, who gets involved?

A

Mediator - third party who attempts to establish a channel of communication between the union and management, but has no power to force a settlement
Arbitrator - third party who hears disputes and makes a decision that is binding to both parties.

71
Q

Who are the 7 users of financial statements?

A 
Owners
Board of directors
managers
creditors
employees
governmental agencies
financial analysts
72
Q

Describe the business entity concept

A

assumes that a business enterprise is separate from the person or persons who supply its assets

73
Q

Describe the fundamental accounting equation

A

Assets = Liabilities + Owners equity

74
Q

Describe the cost principle

A

recording transaction or valuing assets in terms of dollars at the time of transaction (amount expended for goods and services)

75
Q

Describe Cash vs. Accrual basis of accounting

A

Cash basis: recognizes transaction at the time of cash inflow or outflow
Accrual basis: recognizes revenue when earned and expenses when incurred (prior to money moving)

76
Q

Why should you match revenue with expenses?

A

must match revenues and expenses within same accounting period for which they occur. (unmatched = increased expenses in one period and increased sales in the next)

77
Q

What is depreciation?

A

cost associated with the acquisition and installation of a fixed asset are allocated over the estimated useful life of the asset.

78
Q

Name and describe 2 ways of calculating depreciation

A

Straight-line method (cost of asset depreciates equally over the life of the asset.)
= (cost of the asset - salvage value) / years of useful life
Accelerated method (larger amounts of depreciation in the early years and lesser amounts in later years)

79
Q

What does a balance sheet show?

A

statement of assets, liabilities and capital / owners equity at a given time or at the end of an accounting period (static statement)
(current assets + fixed assets = total assets)
(current liabilities + long-term liabilities = total liabilities)
Total assets = total liabilities + owners equity (BALANCED)

80
Q

What does an income statement show?

A

reports the net income or profit of an organization for an accounting period (info about revenues and expenses that resulted in the net income or loss). Flow / dynamic statement.
Total income - operating expenses - fixed charges - income tax = net income

81
Q

What are the 4 types of ratio analysis?

A

Common ratio (X:Y)
Percentage (%)
Turnover (Y / X)
Per unit basis (ex: dollars / unit)

82
Q

What are the different types of ratios used to examine the efficiency of the organization?

A

Liquidity Ratios
Solvency Ratios
Profitability Ratios
Operating Ratios

83
Q

What do LIQUIDITY ratios tell you?

A

the organizations ability to meet current obligations (ability to pay bills when due)
ability to convert current assets into cash to pay off short-term debts

84
Q

What do SOLVENCY ratios tell you?

A

ability to meet long-term financial obligations (financial leverage)
Large loans. Creditors will be looking at solvency.

85
Q

What does PROFITABILITY ratio tell you?

A

ability to generate profit in relation to sales or investments or assets.

86
Q

What does OPERATING ratio tell you?

A

analysis of success of the operation in generating revenues and controlling expenses.

87
Q

What are 2 types of liquidity ratios?

A

Current ratio

Acid-test ratio

88
Q

What are 3 types of solvency ratios?

A

acid-test ratio
debt to asset ratio
debt to equity ratio

89
Q

What are 3 types of profitability ratios?

A

Profit margin
Return on equity
Return on assets

90
Q

What are types of operating ratios?

A

Food cost percentage
Labour cost percentage
Food cost per customer

91
Q

What does current ratio tell you?

Wh do managers want to maintain lower current ratios?

A

relationship between current assets and current liabilities.
HIGH current ratio is good because tells creditors that they will receive payments.
Managers want to lower current ratio because want to avoid excess buildup of cash or inventories

92
Q

What does acid-test ratio tell you?

A

comparison of current assets and current liabilities, but yields more accurate measure of bill paying capacity than current ratio.
Liabilities are measured against cash AND other assets readily converted to cash (i.e. accounts receivable and marketable securities)

93
Q

What does solvency acid-test ratio tell you?

A

compares total assets to total liabilities. Ability to meet long term financial obligations.

94
Q

What does profit margin ratio tell you?

A

how much business is making in relation to sales.

HIGH profit margin = ability to generate a profit while maintaining operational costs

95
Q

What does return on Equity ratio tell you?

A

The ability of the business to turn owners investment into profits.
HIGH ROE = can use owners investments to turn a profit
LOW ROE = hard time generating profit from investments

96
Q

What does Return on Assets ratio tell you?

A

measures manager’s ability to generate return on assets employed in generating revenue.
HIGH ROA = efficient in utilizing resources.

97
Q

Describe the break even analysis

A

Technique for assessing financial data to determine the point at which profit is not being made and lesses are not being incurred
(when total revenue = total expenses)

98
Q

What is a fixed cost?

Examples?

A

cost that does not change with volume of sales. Costs that are required for an operation to exist, but does not directly incur revenue.
Ex: insurance, rent, property taxes

99
Q

What are variable costs?

Examples?

A

Costs that change in direct proportion to volume of sales.
(as volume of sales increases, variable costs increase proportionately)
Ex: direct materials, food costs

100
Q

What is contribution margin?

A

proportion of sales that can contribute to fixed costs and profits AFTER variable costs have been covered

101
Q

What are 2 types of budgets?

A

Operating Budget

Capital Budget

102
Q

What are 3 steps in determining the operating budget?

A
  1. develop the sales or revenue portion of the budget
  2. forecast the expenditure budget
  3. estimate the labour budget
103
Q

What is a capital budget for?

A

capital investments used for expanding or improving the facility / business

104
Q

What are the different types of pricing methods?

A

Factor Pricing Method

Prime Cost Method

105
Q

Describe how to use the factor pricing method

A
  1. Desired percentage of food cost must be determined.
  2. Divide: 100/ percentage food cost selected = pricing factor
  3. Multiply: raw food cost x pricing factor = menu sales price

Also known as markup factor (markup = difference between cost and selling price)

106
Q

Describe how to use Prime costing method

A
  1. Add: raw food $ + direct labour $ = prime cost $
  2. Add: % of the selling price assigned to raw food + % to labour costs associated with production = cost margin
  3. 100 - cost margin = operating margin
  4. Divide: 100 / % cost margin = multiplier
  5. Multiply: prime cost x multiplier = menu selling price
107
Q

What are pricing psychology factors considered?

What are the strategies behind these?

A

Odd-cents pricing (create illusion of bargaining stimulating consumers to buy. Ex. ending in odd number, ending in number other than zero, ending in number just below a zero)

Pricing by the oz (allow customers to weight and pay for their own portions so less complaints about high prices. Estimate total raw food needed to serve anticipated # of customers and determine raw food cost per oz. Use markup factor to cover labour and other expenses and profit.) (Selling price = food cost per oz x markup price)

108
Q

How are financial costs managed at different levels of management?

A

As management levels increase, responsibility on the hierarchy increases, but frequency / time spent managing finances decreases.
(i.e. entry level managers supervise finances hourly, on the floor, sales data, etc. Whereas executive managers are more quarterly or yearly in operating budgets and capital costs)

109
Q

Why is the teenager trend in foodservice positions diminishing?

A

Population trends, timing of shifts / hours and studying or social activities.

110
Q

List 6 reasons why effective labour use is challenging in foodservice organizations

A
  1. Operations are 7 days/week, some require staff for 24 hr periods.
  2. Peaks in service demand additional staff
  3. Seasonal variations
  4. Highly perishable nature of food items before and after production
  5. Labour intensive aspect of most production and service activities
  6. Large number of unskilled and semi-skilled personnel in the industry
111
Q

List 6 techniques to control labour cost

A
  1. Cross training
  2. Conduct periodic audits of productivity and length of breaks
  3. Monitor times for clocking in and out
  4. Develop schedules that can adjust to changes in numbers of guests/patrons being served
  5. Use technology to assist in reducing labour need
  6. Evaluate menu and consider reducing number / complexity of menu items, and/or purchasing prepared food items.
112
Q

What are the first and second most expensive aspects of foodservice organizations?

A

Labour

Food costs

113
Q

List 6 strategies to reduce food cost

A
  1. Monitoring costs on a routine basis and explore reasons for deviation from budget
  2. Conduct monthly physical inventories of frozen foods / dry storage (ensure FIFO and no surplus items)
  3. Assure standardized recipes are followed and proper portion sizes are used
  4. Track all food waste
  5. Review food purchasing and receiving practices
  6. Pricing menu items appropriately

FNS 400 (1 decks)

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