Unit 3a Flashcards
What are the 6 types of natural resources?
Agriculture, Fishing & Trapping, Mining, Water, Fuel & Energy, Logging & Forestry
What’s a primary industry?
Raw materials for conversion into commodities for
consumers. The 6 types of natural resources
What are raw materials?
Ingredients that are transformed into
another product.
What are the 4 factors of production?
Labour, Capital, Info, Management
What’s the production process?
PURCHASING
PROCESSING
QUALITY CONTROL
GRADING (checking for size and quality
against fixed standards)
How do you increase productivity?
TRAINING
CAPITAL INVESTMENT
INVESTMENT IN TECHNOLOGY
NEW INVENTORY SYSTEM
What are the 8 functions of H.R?
labor market,
determining need for new employee,
application process and interview,
job training,
keeping good employees,
departures dismissals and retirements,
handling compensation,
health and safety
What are the 4 management functions?
planning, organizing, leading, controlling
what’re the 5 resources to manage?
Purchasing
Production
Marketing & Distribution
Research & Development (R&D)
Finance
What’s the management hierarchy?
upper management (ceo, cfo coo) , middle management (managers) , lower-level management (team leaders)
what’re the three leadership styles?
autocratic, laissez faire, democratic
what is autocratic leadership?
Takes control of the situation
No employee participation
what is laissez-faire leadership?
leaves employees alone to do their job
what is democratic leadership?
Opportunities for employees to contribute to
decision making process
what’s a team
A team is a group of people with
different skills
what are three things managers do in relation to ethical behavior and management?
Managers need to be ethical role models
Managers need to consider the impact of
their business on the environment.
Managers need to consider the impact of
their business on the local community
what’s teamwork
Teamwork is the ability of people to work
together for a common goal.
what’re the 6 types of teams
committee, task force, cross functional team, self-managed work team, virtual team informal team
pros of teamwork in companies?
Improved creativity
More information
Improved moral
Shared risk
Higher motivation
Improved decision making
cons of teamwork in companies?
Some members may not work as hard
as others
Takes more time
Costs more
Decision may not get implemented
Personality conflicts
what does swot stand for?
strength (internal), weaknesses (internal), opportunities (external), threats (external)
