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Management 220 Exam3
| Question | Answer |
|---|---|
| Entrepenurship | process of starting a new venture, organizing and managing, and assuming all the risk |
| Small Business | Business that is privately owned by one individual or a small group of individuals . The sales and assets aren't large enough to influence the enviroment |
| How many employees do small businesses have? | less than 500 |
| Necessity based entrepreneurs | leaving a large business to start small business |
| Social Entrepreneurship | Innovators who use business skills and strategies to create solutions for problems |
| Serial Entrepreneurship | You continue opening more and more businesses |
| The Entrepreneurial personalities | Internal focus of control, high energy level, self-confidence, tolerance for ambguity, self reliance and desire for independence, high need for achievement, flexibility, passion and action orientation |
| what is the fastest growing segment of small business enterprise? | Services |
| What is part I of the business plan? | Description of the Business |
| What is part II of the business plan? | Marketing Plan |
| What is part III of the business plan? | Production/ Operations Plan |
| What is part IV of the business plan? | Management Plan |
| What is part V of the business plan? | Financial Plan |
| What percentage of businesses fail in their first five years of operations? | 60-80% |
| What does HR do? | The set of organizational activities directed at attracting, developing, and maintaining an effective workforce |
| Person-Job fit | If the persons professional skills meet the standards for that specific job |
| Person-Organizational fit | Are the persons values fit for that orgnaization |
| Equal employment opportunity (EEO) | forbids discrimination based in race, color, religion, sex, and national origin |
| Bona Fide Occupational Qualification | you CAN discriminate the workers you hire |
| National labor relations act of 1935 (wagner act) | it protects the rights of private-sector employees to organize, bargain collectively with their employers, and engage in concerted activities for their mutual aid and protection |
| Labor management relations act of 1947 (taft-hartley) | federal law that ammended wagner act to restrict the power of labor unions, banned certain union practices |
| What are the 3 steps of HR planning | 1. Assessing Current HR 2. Assessing future HR needs 3. Developing program to match resources with needs |
| Job analysis | orderly study of job facts to see what is done. when, where, how, why and by whom |
| Job description | the written rules for a business of what will be done |
| Job specifications | list of specifications that should be met by you to do this job |
| Recruitment | Process of attracting qualified job conditions to fill vacant positions |
| Selection | Involves gathering and assessing information about job candidates and making decision about who to hire. |
| Social recruiting | social media recruiting |
| Reliability | indicator on if you test similar or consistent |
| Validity | testing to show demonstratable on if applicant has a score for their job performance |
| Orientation | familiarizing new hires with the organizations mission and culture, their jobs & co-workers and performance expectations. |
| Reverse mentoring | bringing someone new into the organization to teach and coach employees |
| multiperson comparison | comparing you to your co-workers to much |
| Recently bias | they just did something really good/ really bad |
| Myths about entrepreneurs | all of the above |
| Family and medical leave act | get to leave job in case of emergency for period of time without loosing rank or salary deduction. legal protection |
| The “Big Five” Personality Model | Agreeableness, Conscientiousness, Emotional Stability, Extraversion, Openness to New Experiences |
| Locus of Control | Individual’s belief about the extent to which their behavior affects what happens to them. |
| Self-Efficacy | Person’s belief about his/her capability to perform a task |
| Authoritarianism | Extent to which an individual believes that power and status differences are appropriate. |
| Machiavellianism | Behavior directed at gaining power and controlling/manipulating the behavior of others. |
| Self-Esteem | Extent to which a person believes she/he is a worthwhile individual (more general than self- efficacy). |
| Risk Propensity | Degree to which an individual is willing to take chances and make risky decisions. |
| Affective Component | Feelings and emotions. Explains how we feel. |
| Cognitive Component | Attitude derived from perceived knowledge. Explains why we feel the way we feel. |
| Intentional Component | How a person expects to behave in a given situation. |
| Perception | The process through which people receive, organize and interpret information from the environment. |
Created by:
SWiedeman