21 Questions
What is included in a job description?
Duties, responsibilities, qualifications, and requirements
What is the purpose of using the term 'ideal candidate'?
To describe the person who best fits the job description
What is tuition reimbursement?
A benefit offered by some companies to help pay for employee education
What is the purpose of collecting employee feedback?
To provide valuable insights and perspectives for management decision-making
What is the most common offline way to collect employee feedback?
Surveys or suggestion boxes
What is the purpose of employee engagement?
To positively impact absenteeism and safety incidents in the workplace
What is the life cycle of an idea?
Starts with the original idea and ends with implementation or rejection
What is the most common offline way to collect employee feedback?
Employee suggestion box
True or False: Employee engagement can positively impact absenteeism.
True
What is the process whereby unions negotiate with employers on behalf of the employees?
Collective bargaining
What is another word used to describe a company's liabilities?
Debts
What is the term used for a table of statistical data that shows the likelihood of a risk, such as death, occurring to an individual in a certain profile?
Actuarial table
What is the rate at which the business grows or increases revenue from sales?
Growth rate
What is the term used to describe the point where your revenue equals your expenses?
Breakeven point
What is the most common offline way to collect employee feedback?
One-on-one meetings
True or False: Employee engagement can positively impact safety incidents.
True
What is the process whereby unions negotiate with employers on behalf of the employees?
Collective bargaining
What is another word used to describe a company's liabilities?
Debt
What type of management involves capacity management, supply chain management and quality management?
Operations management
What is the term used to describe the point where your revenue equals your expenses?
Breakeven point
What is the term used for a table of statistical data that shows the likelihood of a risk, such as death, occurring to an individual in a certain profile?
Mortality table
Study Notes
Business Management and Finance Basics
- Companies ponder which positions to fill through job analysis
- A job description includes duties, responsibilities, qualifications, and requirements
- Discrimination based on race is prohibited by the Civil Rights Act of 1964
- Recruiters use the term "ideal candidate" to describe the person who best fits the job description
- Managers rely on resumes and cover letters to decide if they want to interview candidates in person
- Tuition reimbursement is a benefit offered by some companies to help pay for employee education
- Positive references lead to the next step in the hiring process, which is usually an interview
- Companies can encourage employee feedback by creating a safe and open communication environment
- The most common offline way to collect employee feedback is through surveys or suggestion boxes
- The life cycle of an idea starts with the original idea and ends with implementation or rejection
- Employee opinions matter because they provide valuable insights and perspectives for management decision-making
- Employee engagement can positively impact absenteeism and safety incidents in the workplace
Test your knowledge of Business Management and Finance Basics with this informative quiz. From job analysis to employee engagement, this quiz covers essential topics that will help you understand the fundamentals of running a successful business. Whether you're a student of business or a seasoned professional, this quiz is a great way to refresh your knowledge and stay up-to-date with the latest trends and best practices in the industry. So, put your thinking cap on and get ready to ace this quiz!
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