Unit 3 and 4 KK key words

Question 1

Types of Buisnesses?

Answer 1

Soletrader, Partnership, Social Enterprise, Governement Buisness Enterprise, Private and Public limited company

Question 2

Buisness Objectives

Answer 2

• make a profit
• meet a social/market need
• meet shareholder expectations
• Increase market share

Question 3

Areas of management

Answer 3

Finance
Operations
Human Recourses
Sales and Marketing
Technology and support

Question 4

Management Styles

Answer 4

Autocratic
Persuasive
Consultative 
Participative
Laissez-Faire

Question 5

Management Skills

Answer 5

planning
delegation
communication
leading
interpersonal

Question 6

Corporate culture

Answer 6

Real and offical culture

Question 7

Developing corpoate culture

Answer 7

communication
Leading by example
Training
Reward and Recognition
rituals and celebration

Question 8

Motivation Theories

Answer 8

Maslows Hierarchy of Needs
Locke and Lathams Goal setting theory
Lawrence and Norias 4 drive theory

Question 9

Motivation Stratergies

Answer 9

Career advancement
investment in training
performance related pay
support
sanction

Question 10

Performance management stratergies to achieve employee and buisness objectives

Answer 10

employee observation
self evaluation
appraisals
management by objectives

Question 11

Types of termination

Answer 11

dissmisial
retirement
redudancy
resignation
entitlement issues
Transition issues

Question 12

Participants within the work force

Answer 12

human recourse managers 
employees
employer associations
unions
fair work commission (FWC)

Question 13

Dispute resolution processes

Answer 13

Grievance procedures
Mediation
Arbriation

Question 14

Key Elements of an operations system

Answer 14

Inputs
Processes
Outputs

Question 15

Strategies to improve efficiency and effectiveness: Technological developments

Answer 15

Automated production lines
CADs
CAMs
Website developement

Question 16

Strategies to improve efficiency and effectiveness: Materials

Answer 16

JIT
Forecasting
Master Production Schedule
Materials requirement planning

Question 17

Strategies to improve efficiency and effectiveness: Quality

Answer 17

Quality Control
Quality Assurance
Total Quality management

Question 18

Strategies to improve efficiency and effectiveness: Waste minimisation

Answer 18

Lean management:
(POTZ)
pull
one piece flow
Takt
Zero defects

Question 19

Global Considerations in Operations management

Answer 19

global outsourcing
overseas manufacture
global sourcing of inputs

Question 20

Key Performance indicators:

Answer 20

percentage of market share
net profit figures
rate of productivity growth
number of sales
number of workplace accidents
level of staff turnover
level of wastage
rates of staff absenteeism
number of customer complaints

Question 21

Driving forces for business change:

Answer 21

Managers
Competitors
innovation
technology
employees
pursuit of profit
reduction of costs
legislation
globalisation
Societal Attitudes

Question 22

Restraining forces for business change:

Answer 22

Managers 
Employees
organisational inertia
financial considerations
legislation 
time

Question 23

Management strategies to respond to KPIs

Answer 23

Staff training
Staff motivation
Change in management styles/skills
increased investment in technology
improving quality in production
initiating lean production techniques
redeployment of recourses
cost cutting