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24 Cards in this Set
- Front
- Back
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Human Resources Management
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function of attracting,developing,and retaining enough qualified employees to perform the activities necessary to accomplish organizational objectives
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The Performance Appraisal Function
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evaluation of an employees job performance that compares actual results with desired outcomes
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Different types of incentive compensation
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Profit Sharing-Bonus based on company profits. Gain Sharing-Bonus based on productivity gains cost savings or quality improvements. Lump-Sum Bonus One time cash payment or option to buy shares of company stock based on performance. Pay for Knowledge- Salary increase based on learning new job skills.
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Benefits firms are legally required to provide employees...
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Social Security and Medicare contributions,payments to state unemployment insurance and workers comp programs.
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Flexible benifits package
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AKA cafeteria plans- benefit system that offers employees a range of options which they choose the benefits they recieve.
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Motivation theories- Maslow's hierarchy of needs
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Maslow's hierarchy of needs-People have 5 levels of needs that they seek to satisfy : physiological,safety,social,esteem,and self-actualization.
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Human resource Management Responsibilities
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Employee seperation, Employee Compensation and benefits,planning for staffing needs, employee recruitment and selection
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Motivation Theories- Herzbergs Two Factor Model of Motivation
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Hygiene factor, if present are essential to the job satisfaction, although they dont motivate.
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Motivation Theories- Herzbergs Two Factor Model of Motivation
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Motivator factor,can produce high levels of motivation when they are present
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Mediation vs. Arbitration
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Dispute resolution process that uses a 3rd party called a mediator to make recomendations for setting labor mngmt differences VS Bringing in an impartial third party called an arbitrator to render a binding decision in a dispute.
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Motivation Theories-Expectancy Theory
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describes the process people use to evaluate the likelihood their effort will yield the desired outcome and how much they want to outcome
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Motivation Theories-Equity Theory
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concerned with the individuals perception of fair and equitable treatment
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What is production?
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application of resources such as people and machinery to convert materials into finished goods and services.
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Benchmarking?
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process of determining other companies standards and best practices
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Robots and other forms of automated production.
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Robot- reprogrammable machine capable of performing neumerous tasks that require manipulation of materials and tools. Computer Aided design-system for interactions between and a designer and a compter to creat a product facility or part that meets predetermined specifications.
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PERT and Critical Path
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A complex project may require a PERT (Program Evaluation and Review Technique) chart which seeks to minimize delays by coordinating all aspects of the production process. Critical Path-a sequence of operations that requires the longest time for completion.
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Definition of Marketing
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organizational function and a set of processes for creating,communicating ,and delivering value to customers and for mnging customer relationships in ways that benifit.
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The tasks of production mnagers.
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Planning the production process/Selecting the most approperiate layout/Implementing the production plan/Controlling the production process
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The steps in planning a production process.
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Planning begins by choosing what good or services to offer the customers.
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Inventory control methods including perpetual inventory control.
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Inventory Control requires them to balance the need to keep stockes on hand to meet demand against the costs of carrying inventory. Perpetual inventory-systems to continusoly monitor the amounts and locations of their stock.
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The main steps in the production process.
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Production Planning-determine amount of resources and organization skills necessary.Routing-determines sequence of work throughout the facility and specifies who performs what task at what location. Schedualing-mngrs develop table telling how long and when a task should be complete.
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The main steps in the production process
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Dispatching- mngers instruct each department on what work to do and time allowed for completion. Follow Up- employees and their supervisors spot problems in their production process and make changes.
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Types of utility created by marketing
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Utility-want satisfying power of a good or service. TimeUtility-Product available when customer needs it. Place utility-convenient location. Ownership Utility-orderly transfer from seller to buyer.
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Types of non-traditional marketing.
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Cause - promotion awareness or raise $ for a cause. Place -attracts people to a specific place city,state. Event - or sponsoring for charity short term. Person - attract attention intrest of a target market. Organization -influence customers to accept goals and recieve service or contribute.
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