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PMK prac
| Question | Answer |
|---|---|
| Emotional Intelligence | Techniques, strategies, and systems used to foster self-understanding and enhance relationships with others |
| Self-Awareness | Understanding one's own emotions, strengths, weaknesses, values, and impact on others |
| Self-Esteem | Recognition and overcoming of personal biases; assessing strengths and weaknesses; self-confidence |
| Honesty and Integrity | Demonstrating responsible behavior, fairness, ethical work habits, building trust in relationships |
| Positive Attitude | Self-control, adjusting to change, openness to feedback, maintaining constructive outlook |
| Empathy | Respecting privacy, cultural sensitivity, showing empathy, understanding and sharing feelings of others |
| Fostering open communication, collaboration, persuading, negotiation skills | |
| Conflict Resolution | Using appropriate assertiveness, overcoming office politics, stress management, resolving disagreements constructively |
| Teamwork | Participating as a team member, consensus building, motivating others, collaborative goal achievement |
| Leadership | Concept of leadership, ethical leadership, inspiring others, personal vision, adaptability |
| Trust Building | Demonstrating consistency, reliability, and integrity to establish confidence in relationships |
| Active Listening | Fully concentrating on, understanding, and responding thoughtfully to what others say |
| Adaptability | Ability to adjust to new conditions, embrace change, and remain effective in dynamic environments |
| Accountability | Taking ownership of actions, admitting mistakes, and working to correct them |
| Cultural Sensitivity | Recognizing, respecting, and valuing diverse cultural backgrounds and perspectives |
| Feedback Reception | Listening to and considering criticism or suggestions objectively for personal growth |
| Self-Regulation | Managing emotional responses and choosing thoughtful actions over impulsive reactions |
| Negotiation | Discussion aimed at reaching mutually beneficial agreements through understanding all parties' interests |
| Assertiveness | Expressing needs and opinions confidently while respecting others' rights and feelings |
| Professional Ethics | Moral principles and standards that guide behavior in the workplace |
| Consensus Building | Working with a group to reach general agreement that all members can support |
| Motivation | Internal drive or external encouragement that causes action toward goals |
| Financial Analysis (26 terms) | |
| Financial Analysis | Principles and tools to maintain, monitor, control, and plan the use of financial resources |
| Balance Sheet | Financial statement showing assets, liabilities, and equity at a specific point in time |
| Income Statement | Financial statement showing revenues, expenses, and profit over a period |
| Cash Flow Statement | Financial statement showing inflows and outflows of cash during a period |
| Assets | Resources owned by a business that have economic value |
| Liabilities | Debts and obligations owed by a business |
| Equity | The owner's stake in the business (Assets minus Liabilities) |
| Revenue | Income generated from normal business operations |
| Expenses | Costs incurred in the process of generating revenue |
| Net Income | Revenue minus all expenses; the bottom line profit or loss |
| Budget | Financial plan estimating revenues and expenses for a specific period |
| Fixed Costs | Costs that do not change with the level of production or sales |
| Variable Costs | Costs that change proportionally with the level of production or sales |
| Break-Even Point | The point where total revenue equals total costs, resulting in neither profit nor loss |
| Return on Investment (ROI) | A measure of profitability calculated as (Gain - Cost) / Cost |
| Depreciation | Allocating the cost of an asset over its useful life |
| Working Capital | Current assets minus current liabilities; measures short-term financial health |
| Credit | Ability to obtain goods or services before payment based on trust that payment will be made |
| Credit Score | Numerical expression of creditworthiness based on credit history |
| Insurance | Protection against financial loss from specific risks through risk transfer |
| Tax Liabilities | Legal obligations to pay taxes to government entities |
| Pay Stub | Document showing gross pay, deductions, taxes, and net pay for a pay period |
| Profit | The amount by which total revenue exceeds total costs |
| Markup | The difference between the cost of a product and its selling price |
| Margin | The ratio of profit to selling price, expressed as a percentage |
| Accounting Ethics | Moral principles governing accuracy, honesty, and integrity in financial reporting |
| Communications (20 terms) | |
| Communication | Concepts, strategies, and systems for conveying ideas and information effectively |
| Written Communication | Conveying information through written words; includes emails, letters, reports, documentation |
| Verbal Communication | Conveying information through spoken words and oral interaction |
| Nonverbal Communication | Conveying information through body language, facial expressions, tone, and gestures |
| Active Listening | Fully concentrating on, understanding, and responding thoughtfully to speakers |
| Professional Email | Business correspondence via email following professional standards and etiquette |
| Business Letter | Formal written communication following standard business format and conventions |
| Phone Etiquette | Professional standards for handling telephone communications in business |
| Presentation Skills | Ability to effectively convey information to an audience through oral and visual means |
| Staff Meetings | Organized gatherings to share information, align on goals, and coordinate activities |
| Group Discussion | Collaborative conversation among multiple participants to explore topics or solve problems |
| Workplace Channels | Various methods and platforms used for communication within an organization |
| Digital Communication | Information exchange through electronic and digital technologies |
| Social Media Risks | Potential negative consequences of social media use including reputation damage and information security |
| Note-Taking | Recording key information, decisions, and action items during meetings or presentations |
| Verbal Directions | Oral instructions given to guide actions or completion of tasks |
| Written Directions | Step-by-step instructions provided in written format |
| Company Resources | Materials, information, and tools provided by organization to support work |
| Communication Barriers | Obstacles that prevent effective exchange of information |
| Feedback | Information about performance or understanding provided to improve outcomes |
| Operations (20 terms) | |
| Operations | Monitoring, planning, and controlling daily activities required for business functioning |
| Health and Safety Regulations | Laws and rules designed to protect workers and prevent workplace accidents |
| Security Procedures | Protocols to protect people, property, and information from threats and unauthorized access |
| Project Management | Planning, executing, and monitoring projects to achieve specific goals |
| Purchasing | Process of acquiring goods and services from external sources |
| Vendor Selection | Evaluating and choosing suppliers based on quality, price, reliability, and other criteria |
| Inventory | The stock of goods and materials held by a business |
| Inventory Management | Process of ordering, storing, and using company inventory efficiently |
| Production | Process of creating goods or services from inputs |
| Quality Control | Processes to ensure products meet specified standards and requirements |
| Expense Control | Monitoring and managing costs to improve efficiency without compromising quality |
| Property Maintenance | Upkeep of physical assets to ensure ongoing functionality and safety |
| Equipment Maintenance | Regular servicing and repair of tools and machinery to prevent breakdowns |
| Supply Chain | Network of organizations involved in producing and delivering a product |
| Supply Chain Collaboration | Coordination and information sharing among supply chain partners |
| Work Flow | Sequence of processes through which work progresses from initiation to completion |
| Just-In-Time (JIT) | Inventory strategy where materials arrive exactly when needed to minimize inventory costs |
| Logistics | Detailed coordination of complex operations involving people, facilities, and supplies |
| Safety Compliance | Adhering to regulations and standards designed to protect worker safety |
| Emergency Procedures | Predetermined actions to take in response to urgent or dangerous situations |
| Professional Development (19 terms) | |
| Professional Development | Self-development, company rules, goal setting, critical-thinking, career planning |
| Personal Appearance | Professional presentation including dress, grooming, and demeanor |
| Company Protocols | Established rules, procedures, and standards of conduct within an organization |
| Goal Setting | Process of identifying specific, measurable objectives to work toward |
| SMART Goals | Goals that are Specific, Measurable, Achievable, Relevant, and Time-bound |
| Critical Thinking | Objective analysis and evaluation of information to form reasoned judgments |
| Problem-Solving | Process of identifying issues and implementing effective solutions |
| Decision-Making | Process of choosing between alternatives based on analysis and judgment |
| Time Management | Organizing and planning how to divide time between activities efficiently |
| Career Planning | Setting long-term professional goals and identifying steps to achieve them |
| Job-Seeking Skills | Abilities related to finding, applying for, and securing employment |
| Career Advancement | Progress toward higher positions, responsibilities, and opportunities |
| Innovation | Identifying problems and proposing creative, practical solutions |
| Work-Life Balance | Managing professional and personal responsibilities to maintain well-being |
| Continuing Education | Ongoing learning and skill development beyond formal education |
| Professional Standards | Accepted norms and expectations for behavior and performance in a profession |
| Organizational Goals | Objectives an organization aims to achieve |
| Employee Contribution | Value and impact an individual brings to organizational success |
| Systematic Behavior | Following organized, methodical approaches to tasks and responsibilities |
| Information Management (20 terms) | |
| Information Management | Strategies and systems to access, process, maintain, evaluate, and use information |
| Data | Raw facts and figures without context or meaning |
| Information | Processed data that is organized and meaningful |
| Information Literacy | Ability to identify information needs, locate, evaluate, and effectively use information |
| Information Sources | Origin points of data and information such as documents, databases, or experts |
| Source Evaluation | Assessing credibility, accuracy, and relevance of information sources |
| Database | Organized collection of structured information stored electronically |
| Data Mining | Analyzing large datasets to identify patterns, trends, and relationships |
| Information Systems | Systems for collecting, storing, processing, and distributing information |
| Information Technology | Use of computers and software to manage information |
| Data Security | Protecting digital data from unauthorized access, corruption, or theft |
| Confidentiality | Ensuring information is accessible only to authorized individuals |
| Business Records | Documents and files maintained for legal, operational, and historical purposes |
| Record Maintenance | Systematic organization and preservation of business documentation |
| Business Trends | Patterns and directions in market, industry, or economic activity |
| Statistical Analysis | Examination of data using statistical methods to identify insights |
| Information Ethics | Moral principles governing collection, use, and distribution of information |
| Data Privacy | Protection of personal information from unauthorized access or use |
| Information Storage | Methods and systems for preserving data for future access |
| Information Application | Using processed information to support decisions and operations |
| Economics (22 terms) | |
| Economics | Study of how societies allocate scarce resources to satisfy unlimited wants |
| Scarcity | The fundamental economic problem of unlimited wants but limited resources |
| Supply | Quantity of a product that producers are willing and able to offer at various prices |
| Demand | Quantity of a product that consumers are willing and able to buy at various prices |
| Equilibrium Price | Price at which quantity supplied equals quantity demanded |
| Opportunity Cost | Value of the next best alternative given up when making a choice |
| Economic Resources | Means through which goods and services are produced: land, labor, capital, entrepreneurship |
| Goods | Tangible products that satisfy wants and needs |
| Services | Intangible activities that satisfy wants and needs |
| Market Economy | Economic system where decisions are made by individuals and businesses through supply and demand |
| Command Economy | Economic system where government makes all economic decisions |
| Mixed Economy | Economic system combining elements of market and command economies |
| Gross Domestic Product (GDP) | Total value of all goods and services produced within a country in a given period |
| Inflation | Sustained increase in the general price level of goods and services |
| Recession | Significant decline in economic activity lasting more than a few months |
| Productivity | Measure of output per unit of input in production |
| Competition | Rivalry among businesses to attract customers and achieve sales |
| Monopoly | Market structure where one company controls the entire supply of a product |
| Oligopoly | Market structure dominated by a few large firms |
| Global Trade | Exchange of goods and services across international borders |
| Economic Indicators | Statistics that indicate economic health: GDP, unemployment, inflation, consumer spending |
| Small Business Impact | Contribution of small businesses to job creation, innovation, and economic growth |
| Customer Relations (14 terms) | |
| Customer Relations | Techniques to foster positive, ongoing relationships with customers |
| Service Mindset | Attitude prioritizing customer satisfaction and continuous service improvement |
| Customer Rapport | Harmonious relationship based on trust and mutual understanding |
| Customer Satisfaction | Degree to which a product or service meets or exceeds customer expectations |
| Customer Loyalty | Tendency of customers to repeatedly purchase from the same company |
| Complaint Handling | Process of addressing and resolving customer dissatisfaction |
| Customer Inquiry | Request for information or assistance from a customer |
| Difficult Customers | Customers requiring special attention due to complaints, high expectations, or communication challenges |
| Company Image | Public perception and reputation of an organization |
| Brand Promise | Value and experience customers can expect from a brand |
| Customer Relationship Management (CRM) | Strategies and technologies for managing customer interactions and data |
| Service Recovery | Actions taken to resolve problems and restore customer satisfaction |
| Service Orientation | Organizational focus on meeting customer needs and providing excellent service |
| Customer Retention | Ability to keep existing customers over time |
| Business Law (15 terms) | |
| Business Law | Laws and regulations affecting business operations |
| Contract | Legally binding agreement between two or more parties with offer, acceptance, and consideration |
| Tort | Wrongful act causing injury or harm for which civil legal action may be taken |
| Intellectual Property | Creations of the mind including inventions, designs, and artistic works protected by law |
| Patent | Legal protection for inventions granting exclusive rights for a limited time |
| Trademark | Symbol, word, or phrase legally registered to represent a company or product |
| Copyright | Legal protection for original creative works like books, music, and art |
| Business Ownership | Legal structures for owning and operating a business |
| Sole Proprietorship | Business owned and operated by one person |
| Partnership | Business owned by two or more people who share profits and liabilities |
| Corporation | Legal business entity separate from its owners with ability to issue stock |
| Limited Liability Company (LLC) | Business structure combining partnership flexibility with corporate liability protection |
| Franchise | Business arrangement where one party grants rights to operate under their brand and system |
| Import/Export Regulations | Laws governing international trade and cross-border movement of goods |
| Legal Compliance | Adhering to applicable laws, regulations, and standards |
| HR Management (8 terms) | |
| Human Resources Management | Planning, staffing, organizing HR, orientation, ethics, technology |
| Staffing | Process of recruiting, hiring, and retaining employees |
| Employee Orientation | Process of integrating new employees, explaining policies, culture, and job expectations |
| HR Technology | Software and systems used to manage human resources functions |
| HR Ethics | Moral principles governing fair treatment, privacy, and equity in employment |
| Workforce Planning | Forecasting future staffing needs and developing strategies to meet them |
| Employee Relations | Managing relationships between employer and employees |
| Performance Management | Processes for evaluating and improving employee performance |
| Marketing (10 terms) | |
| Marketing | Tools, techniques, and systems for creating exchanges and satisfying objectives |
| Marketing Functions | Product/Service Management, Pricing, Distribution, Promotion, Selling, Marketing-Information Management |
| Customer Behavior | How individuals make decisions to spend resources on consumption-related items |
| Marketing Mix | Combination of Product, Price, Place, Promotion used to promote and sell products |
| Target Market | Specific group of customers a business intends to serve |
| Market Segmentation | Dividing a market into distinct groups with different needs or characteristics |
| Brand | Name, term, design, symbol, or feature that identifies and differentiates a seller's product |
| Marketing Strategy | Overall approach to reach target customers and achieve marketing objectives |
| Value Proposition | Statement of unique benefits a product offers to customers |
| Competitive Advantage | Condition putting a company in favorable position vs competitors |
| Strategic Management (7 terms) | |
| Strategic Management | Tools, techniques, and systems affecting management's ability to plan, organize, and control |
| Mission Statement | Declaration of an organization's core purpose and focus |
| Vision Statement | Description of what an organization aspires to become in the future |
| SWOT Analysis | Strategic planning tool examining Strengths, Weaknesses, Opportunities, and Threats |
| Risk Management | Identification, assessment, and prioritization of risks with coordinated efforts to minimize impact |
| Stakeholder | Individual or group with interest in or affected by an organization's actions |
| Management | Process of planning, organizing, leading, and controlling organizational resources |
Created by:
khondakerr