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Sm. Bus. Manage.

QIII Final

QuestionAnswer
a firm that is independently owned and operated and is not dominant in its field, its market is geographically localized small business
a manufacturer is considered a small business if they have ____ employees or fewer 500
SBA small business administration
a wholesaler is considered a small business if it has ____ or fewer employees 100
what percent of the nation's businesses are considered small businesses? 90%
a retailer is considered a small business if its gross annual sales are _____ or less $500,000
the founder or owner of a small business entrepreneur
t/f: the number of female entrepreneurs is increasing true
a formalized business arrangement which is a contractual agreement that creates a marketing system between a franchisor and a franchisee franchise
4 functions of a small business manager: planning, leading (directing/actuating), organization, controlling
one of the facets of this SBM function is to set forth a business plan planning
one of the facets of this SBM function is to create a friendly environment for employees leading
when you give your employees the authority to make decisions or take action on their own empowerment
organization setup where each employee reports to one supervisor, effectively making a chain of command line organization
this SBM function is closely associated with planning-it is monitoring the activities you are doing to complete your goals controlling
as a manager, you must make sure you have the time to fulfill your responsibilities time management
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
the business plan is part of which SBM function? planning function
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
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
a financial statement that indicates the amounts of profits or losses generated by your firm over a given period of time income statement
total sales-total expenses equals net income
financial statement that provides a snapshot of a business's financial position at any specific point in time balance sheet
those assets which can be readily liquidated within a short period of time and turned into cash current assets
more permanent assets such as land, buildings, fixtures, and equipment fixed assets
assets such as good will, reputation, trademark, patents, and brand name intangible assets
financing provided by a creditor which must be paid back debt capital
personal finances you have provided for the business start up ownership capital
the administration of a funeral service enterprise, the activities of which encompass marketing, office, personnel, facilities, and financial management funeral service management
the art of motivating people towards the achievement of a goal or set of goals management
achieving the goals of a funeral home through personnel and resources funeral home management
meeting the needs of grieving families that have suffered the loss of a loved one should be the _____ objective of a funeral home primary
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
a vision or mission statement you want to accomplish: broad, general, without a specific time period in which to accomplish them goals
specific actions you will take to complete/achieve your goals objectives
the effective utilization and adequate regulation of your firm's assets, revenues, and expenses financial management
obtaining and maintaining adequate workspace and funeral equipment facilities management
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
economic theory in funeral service, let the seller beware caveat venditor
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
what percentage of a firm's profits should go toward employee wages? 18-26%
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
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
process of determining the critical components of any job and seeing what kind of person you want to fill the job job analysis
t/f: you can ask about race, religion, arrest record, or sex on a job application false
in an interview, what kind of questions are preferable? open ended questions
can you ask marital status, or a woman's maiden name in an interview? no
a statute outlawing discrimination in employment based on race, color, religion, sex, or national origin title VII of the civil rights act of 1964
statute outlawing discrimination in employment regarding those over 40 years of age age discrimination in employment act of 1967
statute prohibiting any discrimination of any qualified person with disabilities in hiring American's with disabilities act of 1990
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)
a provision added to the fair labor standard act, outlawing discrimination in women's wages equal pay act
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)
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
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
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
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
marketing: a distinguishing feature (name, design, motto) brand
marketing: an intangible asset that is a distinct name, sign, or symbol that the federal government grants exclusive rights to the use of trademark
what percent of your business's gross annual sales should be spent on advertising? 2-5%
a registered right of a creator to reproduce, publish, and sell the work which is the product of their intelligence and skill copyright
registered right of an inventor to make, use, and sell an invention patent
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
inducing the public to have a positive feeling about your funeral home, can reinforce your advertising public relations
reports about the funeral home, its employees by local radio, tv, or newspapers publicity
DMORT stands for disaster mortuary operational response team
when was DMORT created 1990
Created by: amyziolkowski