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BUS MAN/ ACCOUNTING SEM 2 > UNIT 3 BUS MAN > Flashcards

UNIT 3 BUS MAN Flashcards

1
Q

What is waste minimization?

A

reducing the amount of resources that are misused or discarded by the business during operations

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2
Q

What is the solution of waste minimisation for the business?

A

the business wide approach aims to eliminate waste by small incremental changes are made within the business but always puts the customer first WITHOUT REDUCING EXPENSIVES

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3
Q

How can we reduce waste?

A

Reduce, reuse and Recycle

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4
Q

What are the 7 sources of Waste?
brief description of each

A

Transportation - inefficent moveent if materials -> wastes time and resources
Inventory -> supplies not used or lay for too long = waste-> money wasted
Motion- excess of ppl, machines, materials, or production time between stages = waste of time
Wait times - leaves employees idle with waste of employment = $$
Overproduction - producing more than consumers demand
Over - processing = preforming process do not add value
Defects - errors need to be fixed or discarded

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5
Q

EXPLAIN the lean management PULL

A

production respond to customer demand = minimizes production and stops working capital being tied up - PULL is based on ACTUAL demand rather than forecasting

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6
Q

What is the impact on waste of PULL

A

prevents unwanted products from being produced and then discarded
REDUCES RESOURCES TIME AND LABOUR

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7
Q

EXPLAIN the lean management principle ONE PIECE FLOW

A

a single product moving through all stages of production one at a time

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8
Q

What is the impact on waste of ONE PIECE FLOW

A

reduces time the product spends at each stage of production

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9
Q

EXPLAIN the lean management principle ZERO DEFECTS

A

preventing defects occurring in the production process with an ongoing attitude in the business preventing defects from occurring and improving the final product

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10
Q

What is the impact on waste of ZERO DEFFECTS

A

preventing defects reduces products discarded or time and labor spent fixing/ $$

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11
Q

Advantages of lean management principles of reduction of waste

A

Business reputation is improved as they are actively reducing and manging waste= benefits enviro
Quality improved
Reduces overall use of materials -> less production costs

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12
Q

Disadvantages of lean management principles of reduction of waste

A

Employees may be reluctant to commit to an attitude of zero defects due to the effort needed and commitment
May be time consuming
Costly to train inexperienced employees with required knowledge and commitment to lean methods of production

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13
Q

What is employee motivation?

A

Refers to the factors that drive an employees to strive to achieve in the workplace

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14
Q

Why is employee motivation important?

A

More productive as they work hard and take more care which therefore make less mistakes - decreases quality and increase customer satisfaction increases

Less likely to take days off and/or leave the organizations so save $$$

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15
Q

Definition physiological needs

A

Basic requirements for human survival - food, water, shelter = fulfilled in the workplace

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16
Q

Physiological needs - identifying when needs are not met

A

Employees lacking entry levels wages = not enough $$$
Underemployed staff = not enough hours

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17
Q

What strategies are needed to implement for Physiological needs

A

Increase hours for those who considered underemployed

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18
Q

Definition of safety and security

A

psychically safe at work and sense of job security

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19
Q

SAFETEY AND SECURITY - identifying when needs are NOT met

A

Organisation not abiding by OH&S
Employees not yet on ongoing/ long term contracts
Threat of redundancies/organisation closing

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20
Q

Strategies to implement SAFETY AND SECURITY

A

Create job security
Ensure employees have safe and healthy work conditions
Superannuation and insurance (legal requirement)

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21
Q

Definiton of Belongingness/ social need

A

having strong workplace relationships - feeling like they belong to the organsiation

22
Q

Belongingness/ social need - identify when needs are NOT met

A

lack of collaborative work amongst staff
Employees not socialising w each other
Employees feeling uncomfortable contributing ideas and thoughts
Lack of sense of ownership

23
Q

Strategies to implement - Belongingness/ social need

A

Organise groups of staff to work on projects/ solve problems
Organise staff gatherings e.g. morning teas etc

24
Q

Definition of SELF ESSTEEM NEEDS

A

Involves employees gaining recognition of performance from others and feeling sense of pride in their own work as a result = feeling important, valuable

25
Q

Identifying when needs are NOT met - self esteem

A

Employee effort and performance lacks acknowledgement from management
Employees lack sense of accomplishment

26
Q

Strategies to implement - SELF ESTEEM

A

Performance pay
Recognition of work at whole staff evenets/ meetings
Being made an example of in day to day operations
Promotions

27
Q

Definition of SELF- ACTUALISATION NEEDS

A

Achievement of own potential -> can only be fulfilled through intrinsic motivation (drive of individual)

28
Q

Identifying when needs are NOT meet - Self actualisation

A

Employees not being challenged by work
Employees lack interest in the work
Employees not being provided with significant autonomy

29
Q

Strategies to implement SELF ACTUALISATION

A

Delegating specific projects to employees = involve working with autonomy
Participation in decision making
Provide employees with challenging projects whereby they are required to come up with solutions

30
Q

Rank Maslow hierarchy needs

A

START = physiological needs (basic)
Safety needs
Social needs
Esteem needs
Self actualization needs

31
Q

Definition of Corporate social responsibility

A

refers to the actions taken by a business which goes above and beyond it’s legal obligations

32
Q

Pros of CSR

A

Organizations reputation can be enhanced
Free publicity can be gained
Enhanced perceived quality of products

33
Q

Cons of CSR

A

Can be expensive in terms of costs and expenses not directly related to change
Time and resources are spent on managing the change that isn’t required by law
Does it compromise the function of the product

34
Q

CSR - Areas of management responsibility OPERATIONS

A

Sourcing renewable or recycled materials
Selecting responsible and ethical suppliers
Producing quality and long lasting products to reduce landfill
Reducing impact on the environment through manufacturing process

35
Q

CSR - Areas of management responsibility HUMAN RESOURCES

A

Offering staff benefits ( counselling, gym membership, discounts)
Paying higher than the minimum wage
Offering employees opportuinity to skill up and grow in busines
Flexible working

36
Q

CSR - Areas of management responsibility
SALES & MARKETING

A

Ensuring market is transparent, informative and honest
Not selling excess product which increase landfill
Sustainable packaging

37
Q

EXPLAIN TRANSPORTATION OF WASTE

A

Transportation - inefficent moveent if materials -> wastes time and resources

38
Q

EXPLAIN INVENTORY OF WASTE

A

Inventory -> supplies not used or lay for too long = waste-> money wasted

39
Q

EXPLAIN motion OF WASTE

A

Motion- excess of ppl, machines, materials, or production time between stages = waste of time

40
Q

EXPLAIN WAIT TIMES OF WASTE

A

Wait times - leaves employees idle with waste of employment = $$

41
Q

EXPALIN OVER PROCESSING OF WASTE

A

Overproduction - producing more than consumers demand

42
Q

EXPLAIN OVER PRODUCTION OF WASTE

A

Overprocessing = preforming process do not add value

43
Q

EXPLAIN DEFECTS OF WASTE OF WASTE

A

Defects - errors need to be fixed or discarded

44
Q

Corporate Culture is

A

shared values and beliefs of the people in an organisation. These can be real or official

45
Q

What is official corporate culture?

A

The desired culture a business wishes to establish - what the org. stands for
Visible through documents - mission and vison statements or slogans/ logos

46
Q

What is real corporate culture

A

The actual or prevailing culture that exists within a business - actually operate

47
Q

There is often a gap between ___ & ___
because

A

Official culture and real culture
b/c an organisation says they sand for x but day to day behaviour’s

48
Q

What are the official corporate culture indicators

A

Mission Statements
Policies (environmental, OH&S, equal opp)
Stated priority areas in annual reports

49
Q

What are the real corporate culture indicators

A

Physical structure (office layout, solar panels, size of different offices, department areas)
Consistency in style of dress and language within the organisation
Relations among staff
Management style
Budgets
Rituals and celebrations – what exist indicates what is valued
“Heroes” – who do people “look up to” in the organisation (informal power)

50
Q

Why is it important to align the real culture with the official culture as much as possible HOW CAN THEY DO THIS?

A

Communicate desired values
Recruiting in line with desired values
Training
Reward and recognition
Considering/altering management style

51
Q

Organizational culture affects

A

the way in which the business operates this includes
Decision Making
Organisational Structure
Communication
Leadership styles (cause or effect?)
Attitude towards work

BUS MAN/ ACCOUNTING SEM 2 (5 decks)

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