QIII Final
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| a firm that is independently owned and operated and is not dominant in its field, its market is geographically localized | small business
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| a manufacturer is considered a small business if they have ____ employees or fewer | 500
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| SBA | small business administration
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| a wholesaler is considered a small business if it has ____ or fewer employees | 100
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| what percent of the nation's businesses are considered small businesses? | 90%
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| a retailer is considered a small business if its gross annual sales are _____ or less | $500,000
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| the founder or owner of a small business | entrepreneur
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| t/f: the number of female entrepreneurs is increasing | true
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| a formalized business arrangement which is a contractual agreement that creates a marketing system between a franchisor and a franchisee | franchise
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| 4 functions of a small business manager: | planning, leading (directing/actuating), organization, controlling
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| one of the facets of this SBM function is to set forth a business plan | planning
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| one of the facets of this SBM function is to create a friendly environment for employees | leading
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| when you give your employees the authority to make decisions or take action on their own | empowerment
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| organization setup where each employee reports to one supervisor, effectively making a chain of command | line organization
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| this SBM function is closely associated with planning-it is monitoring the activities you are doing to complete your goals | controlling
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| as a manager, you must make sure you have the time to fulfill your responsibilities | time management
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| a written document that sets out the basic idea underlying a business and any related start-up considerations, developed before you begin operations | business plan
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| the business plan is part of which SBM function? | planning function
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| 4 objectives to identify before developing a business plan | 1) identify the nature of the business opportunity, 2) present and define the approach you will take to exploit the opportunity, 3) what are the factors I need to make the business successful?, 4) state the various methods of raising capital
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| 2 functions of the business plan | provides a clear statement of your goals and strategies as to how to accomplish those goals, serve as an educational tool to your customers
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| a financial statement that indicates the amounts of profits or losses generated by your firm over a given period of time | income statement
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| total sales-total expenses equals | net income
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| financial statement that provides a snapshot of a business's financial position at any specific point in time | balance sheet
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| those assets which can be readily liquidated within a short period of time and turned into cash | current assets
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| more permanent assets such as land, buildings, fixtures, and equipment | fixed assets
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| assets such as good will, reputation, trademark, patents, and brand name | intangible assets
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| financing provided by a creditor which must be paid back | debt capital
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| personal finances you have provided for the business start up | ownership capital
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| the administration of a funeral service enterprise, the activities of which encompass marketing, office, personnel, facilities, and financial management | funeral service management
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| the art of motivating people towards the achievement of a goal or set of goals | management
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| achieving the goals of a funeral home through personnel and resources | funeral home management
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| meeting the needs of grieving families that have suffered the loss of a loved one should be the _____ objective of a funeral home | primary
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| to generate money to cover expenses and invest in the business & to make a return on investment (profit) should be the _____ objectives of a funeral home | secondary
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| a vision or mission statement you want to accomplish: broad, general, without a specific time period in which to accomplish them | goals
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| specific actions you will take to complete/achieve your goals | objectives
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| the effective utilization and adequate regulation of your firm's assets, revenues, and expenses | financial management
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| obtaining and maintaining adequate workspace and funeral equipment | facilities management
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| as a manager, you must make sure that the efforts of all personnel are directed to ensure that quality in the production of your goods/services is achieved and meets the company's standards and expectations | total quality management
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| economic theory in funeral service, let the seller beware | caveat venditor
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| the process of acquiring, training, motivating, etc. a sufficient quantity of qualified employees to perform necessary activities and to develop those activities into an organizational climate conducive to maximum efficiency and worker satisfaction | human resource management
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| what percentage of a firm's profits should go toward employee wages? | 18-26%
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| a document given to every employee, should be signed by the employee acknowledging that they've read and understood the company policies within | employee handbook
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| a list of the major responsibilities/tasks of a particular job-should be given to all prospective employees so there's no confusion later on | job description
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| process of determining the critical components of any job and seeing what kind of person you want to fill the job | job analysis
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| t/f: you can ask about race, religion, arrest record, or sex on a job application | false
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| in an interview, what kind of questions are preferable? | open ended questions
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| can you ask marital status, or a woman's maiden name in an interview? | no
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| a statute outlawing discrimination in employment based on race, color, religion, sex, or national origin | title VII of the civil rights act of 1964
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| statute outlawing discrimination in employment regarding those over 40 years of age | age discrimination in employment act of 1967
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| statute prohibiting any discrimination of any qualified person with disabilities in hiring | American's with disabilities act of 1990
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| statute outlawing discrimination in regard to wages: requires that employers provide a minimum wage and at least 1.5 times that wage for over 40 hours worked | fair labor standard act (wage an hour law)
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| a provision added to the fair labor standard act, outlawing discrimination in women's wages | equal pay act
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| legal discrimination: must have the minimum qualifications for the job, can refuse employment of anyone if they do not have the qualifications that are absolutely necessary for the job | bona fide occupational qualification (BFOQ)
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| from a 2005 survey, how did funeral directors rate the following as most important regarding their job: safety, job security, pay, benefits | benefits, pay, safety, job security
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| according to Maslow, put the hierarchy of needs in order from most basic through the apex: social needs, self-esteem, physiological needs, self-actualization, security | physiological, security, social, self-esteem, self-actualization
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| theory that says we have two basic sets of needs either intrinsic or extrinsic. who was this put forth by? | two-factor theory, F. Hertzberg
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| any activity that a FH engages in to create public awareness of your services and products and any activity that the FH engages in to generate new business or to retain present business | marketing
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| marketing: a distinguishing feature (name, design, motto) | brand
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| marketing: an intangible asset that is a distinct name, sign, or symbol that the federal government grants exclusive rights to the use of | trademark
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| what percent of your business's gross annual sales should be spent on advertising? | 2-5%
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| a registered right of a creator to reproduce, publish, and sell the work which is the product of their intelligence and skill | copyright
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| registered right of an inventor to make, use, and sell an invention | patent
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| a statistical study of the population in your market area that provides you with the number of people, their ages, average income, etc. | demographic survey
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| inducing the public to have a positive feeling about your funeral home, can reinforce your advertising | public relations
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| reports about the funeral home, its employees by local radio, tv, or newspapers | publicity
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| DMORT stands for | disaster mortuary operational response team
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| when was DMORT created | 1990
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Created by:
amyziolkowski
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