3447521
Description
Flashcards by Cari Hawthorne, updated more than 1 year ago
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Created by Cari Hawthorne
over 8 years ago
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| Question | Answer |
| Factors that effect organizations | EXTERNAL BUSINESS ENVIRONMENT (5) |
| Typewriters, computers, copy machines | TECHNOLOGICAL DEVELOPMENTS |
| Horse and wagon to regional delivery services | INDUSTRY DEVELOPMENTS |
| A greater demand for businesses goods and services | ECONOMIC DEVELOPMENTS |
| need for workers based on market | LABOR POOL |
| Environments affected by activities of state, federal and local government | LEGAL AND REGULATORY ACTIVITY |
| Businesses are organized into one of the four basic structures | INTERNAL BUSINESS OPERATIONS |
| basic and easy to organize. Single authority and final authority for all decisions. Profits belong to the owner and owner is liable for all decisions and activities | SOLE PROPRIETORSHIPS |
| owned by two or more people who share final authority for business decisions and are jointly responsible for the actions of the business | PARTNERSHIPS |
| share responsibility for managing the business based on the partnership agreement | GENERAL PARTNERSHIPS |
| most of the partners involved are only investors and have little input into daily operations. Most common are law firms, accounting practices and medical clinics | LIMITED PARTNERSHIPS |
| acts similar to a general partnership but formed only to manage a specific project | JOINT VENTURE |
| liability is limited to assets owned by the corporation. Life of the corporation can be extended past the life of the founder. Ownership can be transferred by selling stock | CORPORATIONS |
| cross between a general partnership and a corporation | LIMITED LIABILITY COMPANY |
| process by which businesses create the product or services offered to customers | PRODUCTION |
| activities necessary to produce the goods or services | OPERATIONS |
| defines organizational goals and the methods to be used in achieving these goals | STRATEGIC PLANNING & STRATEGIC MANAGEMENT |
| framework for collecting information used to forecast future business operations | ENVIRONMENTAL SCANNING |
| communicates what a company does, for whom it does it, and what long-range success will look like | VISION STATEMENT (THINK LONG TERM) |
| gets more specific and describes how the company will achieve its vision | MISSION STATEMENT (SHORT TERM) |
| things that set companies apart | CORE COMPETENCIES |
| standards for how an organization will conduct business | CORPORATE VALUE STATEMENT |
| goals need to describe how an organization will achieve their goals | SMART GOALS |
| descriptive enough to guide business-unit managers in developing action plans that will accomplish the goals | SPECIFIC |
| method for determining when it has been met | MEASURABLE |
| describe the actions that will be taken | ACTION-ORIENTED |
| high enough to challenge the organization but not so high that its unachievable | REALISTIC |
| time frame for completion | TIME-BASED |
| Where are we now? | Human Capital Management plan or HR Plan |
| Where do we want to be? | Human Capital Management plan or HR Plan |
| How will we get there? | Human Capital Management plan or HR Plan |
| How will we know when we arrive? | Human Capital Management plan or HR Plan |
| behavior focused on building external and strategic relationships | CORPORATE RESPONSIBILITY (CR) |
| behavior that doesn't deplete the resources used to achieve an outcome | SUSTAINABILITY |
| Insurance that protects companies from claims such as sexual harassment, discrimination and wrongful discipline | EMPLOYMENT PRACTICES LIABILITY INSURANCE (EPLI) |
| employees who initiate reports of what they reasonably believe are company actions are in violation of federal laws | Whistle Blowers |
| the amount of time an employee has to file retaliation for blowing the whistle | 90 DAYS |
| the amount of time that OSHA has to issue a final order for retaliation | 180 DAYS |
| advise employees on ethical issues and manage programs designed to allow confidential reporting | ETHICS OFFICER |
| -PRODUCT -PRICE -PLACEMENT -PROMOTION | THE FOUR P's that summarize the marketing function |
| compilation of all policy decisions a company has made | POLICY MANUALS |
| normally contain a summary of information that employees need to know regarding their employment relationship with their employer | EMPLOYEE HANDBOOKS |
| ability to create effective organizations by applying the principals and practice of human resource management | HR TECHNICAL EXPERTISE (Be sure to go back and look at these competencies created by SHRM) |
| statement that reports a companies assets, liability and equity at a specific point and time | BALANCE SHEET |
| also known as a profit and loss statement. Reports a company's income, expenses and profits over a certain period of time | INCOME STATEMENT |
| reports the flow of cash in and out of a company | CASH FLOW STATEMENT |
| plan that describes expected income and expenses over a period of time | BUDGET |
| requires justification for ALL expenses in the new budget | ZERO BASED BUDGET |
| explains what a company seeks to accomplish and why? | PURPOSE STATEMENT |
| -cost leadership -differentiation -focus | GRAND STRATEGIES FROM PORTER |
| selling products and services at a lower cost | COST LEADERSHIP (THINK SOUTHWEST AIRLINES) |
| providing unique products and services that are widely valued by customers | DIFFERENTION (THINK LEXUS, NORDSTROM) |
| strategy that concentrates on a specific need | FOCUS |
| moderate growth-only retains customers | DEFENDERS |
| seek fast growth, like innovation and risk taking | PROSPECTORS |
| imitate others success | ANALYZERS |
| use inconsistent strategies, only respond to change | REACTORS |
| -Inbound logistics -operations -outbound logistics -marketing and sales -service | PRIMARY ACTIVITIES OF THE VALUE CHAIN |
| -Firm infrastructure -human resource management -technology development -procurement | SECONDARY ACTIVITIES OF THE VALUE CHAIN |
| Strengths, Weaknesses, Opportunities & Threats | SWOT |
| organizations should be formed in a way that support one another | STRATEGIC ALIGNMENT |
| In what business are we or should we be in? | CORPORATE STRATEGY |
| How should we compete in a particular industry | BUSINESS STRATEGY |
| shared values and beliefs that influence worker behavior | CULTURE |
| patterns or activities that keep an organization operating | SYSTEMS |
| -suppliers -buyers -rival firms -new entrants -substitues | PORTER'S FIVE FORCES |
| costs of switching from one one service to another, capital requirements or amount of money, economies of scale | THREAT OF NEW ENTRANTS |
| goods or services of different businesses that can satisfy similar customer needs | THREAT OF SUBSTITUTES (CELL PHONE COMPANIES) |
| depending on suppliers for materials | BARGINING POWER OF SUPPLIERS |
| opportunities to improve their market position or competitive pressures | RIVAL FIRMS |
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