Shared Flashcard Set

Details

Business
Shit I don't know
29
Business
12th Grade
10/27/2016

Additional Business Flashcards

 


 

Cards

Term
Outline two positives and negatives LSO's make to the economy
Definition

Positives - employment / exports / infrastructure / research and development

Negatives - damage to environment / outsourcing

 

*MUST LINK BACK TO THE ECONOMY. Eg, "Damages made ot the environment will cost the economy, money that could be spent better elsewhere"

Term
Identify two KPI's
Definition

Staff satisfaction surveys, number of sales

 

*USE THE MOST APPROPRIATE ONE TO THE QUESTION

Term
Define all the terms of POLC
Definition

Plan - Determine the objectives of the operation and how to achieve them.

 

Organise – Organise staff to facilitate the production process.

 

Lead – Investigate new process to complete tasks.

 

Control – Control the quality of the product. 

 

 

Term
Describe one way management can develop a organisation's corporate culture
Definition
They can implement different strageties. Eg, change the uniform to a more formal one, or develop policies for the way things should be done.
Term
Describe two ways for managing quality to ensure high-quality products.
Definition

Quality control - various inspection points the production process 

 

Quality assurance - the use of a system to acheive set standards. Usually done by an external auditor, and ensures inputs are of the highest grade.

 

Term
Describe the establishment phase of the employment cycle
Definition

Job analysis - includes a job description (Jobs that will be performed/ responsiblities)  and specification (Skills required)

 

Recruitment and selection - selecting the best possible employee that most correctly matches the criteria 

 

Employment arrangements - conditions of employment, hours, salary etc

Term
Describe the maintenance stage of the employment cycle
Definition

Induction - rundown and introduction to the corporate culture/ org in general

 

Training - furthering their skillset

 

Motivating employees (monetary/ non-monetary benefits) 

Term
What is a job design
Definition
Job design is grouping tasks and defining who should perform them, how they should complete it and where
Term
Describe termination stage of the employment cycle
Definition
• Termination of employment is the final phase of the employment cycle. An employee may leave the organisation voluntarily through resignation, retirement or accepting redundancy. Sometimes an employee will be forced to leave the organisation because they have been made redundant or have been dismissed.
Term
Advantages and disadvantages of the functional structure
Definition

Advantages - defined career pathway, efficient use of resources, opportunities for development

 

Disadvantages - lack of flexibility, slow response to changes due to seperation of functions

Term
Advantages and disadvantages of the divisional structure?
Definition

Advantages - greater expertise in each division, greater flexibility, encouragement of cooperation between depts

 

Disadvantages - rivalry, difficulities in communication, work may be doubled

Term
Advantages and disadvantages of the matrix structure?
Definition

Advantages - flexible, spread pool of expertise, enhanced decision making

 

Disadvantages - undermines authority 

Term
Define the role of planning
Definition
Process of defining achievable objectives and methods to achieve them.
Term
The three types of planning and who sets them
Definition

Strategic - 3-5 years, set my senior managers, determines what the org wants to be

 

Tactical - 1-2 years, middleman managers (dept heads etc)

 

Operational - day to day, short term objectives, set by frontline managers

Term
Define each role of POLC
Definition

Planning - mentioned before

 

Organising - coordination of resoures and time with tasks

 

Leading - managers influencing employees, being positive role models

 

Controlling - evaluating performance

Term
The policy development process (9 steps)
Definition

1. Identify the problem or issue.

2. Research the environment.

3. Consult stakeholders.

4. Develop a policy.

5. Draft the policy to be read by stakeholders.

6. Revise the changes made.

7. Approve and distribute the policy.

8. Monitor the policy.

9. Evaluate.

Term
Identify and describe three management skills
Definition

Communication - effective two way transmission of information

 

Delegation - transfer of authority 

 

Problem solving - identifying a problem and coming up with ways to fix it

 

Negotiation - bargaining amongst parties to produce a win win situation

 

Others (self explanatory) - decision making, stress management, time management

Term
Key elements of an operations system?
Definition

Inputs - raw materials, capital, labour, time, money

 

Transformation - conversion of inputs to outputs

 

Outputs - end result of the transformation process

Term
Ways to compete on cost?
Definition
Bulk buy inputs, eliminate waste, automate processes, outsource
Term
How can an org manage operations ethically and socially?
Definition

Manage inputs appropriately - no serious impact on environment, waste to a minimum

Manage suppliers appropriately - follow guidelines, no preferential treatment

Manage staff appropriately - make sure there are sufficient facilities that contribute to OHS

Manage customer relationship appropriately - goods are produced to a good standard

Term
Maslow's theory - what are the 5 steps?
Definition

1. Physiological needs (Food, water)

2. Safety needs (Shelter, clothing)

3. Social needs (Being loved)

4. Esteem needs (promotion)

5. Self-actualisation needs (Growth/ dev)

 

Term
Differences between the centralised and decentralised approach?
Definition

Centralised - government control wage determination

- ADR methods of conciliation and arbitration are used 

 

Decentralised - employees negotiate terms with their employers individually

 

Term

What is a collective agreement?

 

A method of determining employment conditions. Must be approved by fair work Australia.

Definition
Term
What is the role of HRM under a decentralised approach?
Definition

-Negotiate employment arrangements

- Ensure agreements are fully implemented

-Deal with disputes and conflict

Term
List external and internal sources of change?
Definition

Poor financial performance, management, employees, crisis, innovation, corporate culture

 

Operating environment - customers, competitors, suppliers, interest groups

 

Macro - political and legal forces, technological forces, social

Term
Outline Kotter's 8 step theory of change management
Definition

1. Establish a sense of urgency

2. Form a guiding group that will ensure change is in the right direction

3. Create a vision

4. Communicate the vision

5. Empower people to fulfill the vision

6. Recognise and reward achievements

7. Consolidate improvements

8. Instituionalise the changes

Term
Low risks strategies to manage change?
Definition
Setting achievable objectives, creating a culture for change (encouraging teamwork)
Term
High risk strategies to manage change?
Definition
Threat, manipulation, and cooptation. Often seen as unethical.
Term
Impact of change on HRM?
Definition

- Performance appraisals will need to be changed to reinforce the new attitude

- Recruitment and selection process must be altered

Supporting users have an ad free experience!