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Flashcards

Principles of Management

kgallagher English 26 cards

Cards in this deck (26)

  1. 1How many protected characteristics are there?9
  2. 2Can you name all 9?Race and Ethnicity, Disability
    Religion or Belief, Age,
    Sexual Orientation, Gender,
    Gender re-assignment, Pregnancy or Maternity, Marriage and Civil Partnership
  3. 3What is the point of the Equality Act 2010?Protects the rights of individuals and to advance equality of opportunity for all
  4. 4Name 3 ways a manager could eliminate discrimination in the workplaceEducate employees in training sessions, put up posters promoting equality, ensure the disciplinary procedure covers discrimination, make sure there is someone people can talk to if the feel they are being discriminated against
  5. 5Explain the term 'unlimited liability'This is where liability is not limited, i.e. if they company owed money, the owners own personal assets could be used to settle debts. A sole trader would have unlimited liability
  6. 6True or False: A sole trader business is difficult to set up?False: There are only a few legal documents/procedures that need to be followed when setting up a sole trader
  7. 7True or False: A sole trader business easy to run?True: One person can make all the decisions
  8. 8True or False: There are lots of legal costs associated with setting up a sole traderFalse: You wouldn't have to pay many legal fees at all if you set up as a Sole Trader
  9. 9True or False: You have to work set hours if you are a sole traderFalse: You are the boss, so you can choose your hours
  10. 10Name three disadvantages of running a business as a limited companyThere are lots of legal forms and procedures to follow
    Costs a lot more to set up than a sole trader as you would have to employ a solicitor
    Takes time to set up as you have to follow certain proceedures
  11. 11What financial document contains the income and expenditure during a period of time, in order to calculate profit?Profit and Loss Statement
  12. 12What financial statement shows the assets and liabilities of a business, in order to calculate the net worth of the business?Balance Sheet
  13. 13What did Maslow's research show?Maslow created the 'Hierarchy of Needs' and that people are motivated by achieving the next need up the hierarchy.
  14. 14What is the first need on Maslow's Hierarchy of Needs?Physiological
  15. 15What is the top level on Maslow's Hierarchy of Needs called?Self-Actualisation
  16. 16What does Self-Actualisation mean?You are the best that you can be
  17. 17When calculating break-even points, how do you work out 'contribution'?Selling price – Variable costs
  18. 18How do you calculate break-even point?Fixed Costs / Contribution
  19. 19What company did the theorist 'Taylor' work with?Ford Motor Company
  20. 20Describe 'Ford and Taylorism'Break down the work into smaller activities, repetitive working, faster working times, no specialist training, poor working conditions, led to the birth of Trade Unions
  21. 21Describe the theory of 'Hackman and Oldham'Looked into how to design interesting work, keeps staff interested and therefore motivated at work
  22. 22According to Hackman and Oldham what is skill variety?How varied is the job? If someone is doing the same job all day long then they have low skill variety.
  23. 23According to Hackman and Oldham, what is Task IdentityIs the person in charge of completing the task from start to finish?
  24. 24According to Hackman and Oldham, what is Task Significance?Does the job affect other people’s work, health of well-being?
    Example
    A cleaner who cleans the floors at an office building may find the job low in significance, thinking it is not a very important job. However, someone that cleans the floors at a hospital may see their role as essential in helping patients get better. When they feel that their tasks are significant, employees tend to feel that they are making an impact on their environment, and their feelings of self-worth are boosted.
  25. 25According to Hackman and Oldham, what is Autonomy?How much say does the person have on how to perform their tasks?
  26. 26According to Hackman and Oldham, what is Feedback?How much someone learns about how effective they are being at work

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Principles of Management flashcards
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kgallagher
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