Business Management Final Review
Questions and Answers Verified by Experts
Herzberg's Two-Factor Theory proposed that work satisfaction and dissatisfaction arise
from two different factors - work satisfaction from so-called motivating factors and work
dissatisfaction from so-called hygiene factors
Theory X management belief that employees work only for rewards or to avoid
punishments
Theory Y management belief that employees are intrinsically motivated to do good work
Theory Z manager Believes that workers seek opportunities to participate in management
and are motivated by teamwork and responsibility sharing
HR Responsibilities Includes recruiting, hiring, training, Appraising, firing, inclusion
Recruiting the process of locating and attracting qualified applicants for jobs open in the
organization
,Employee Benefits Indirect and non-cash compensation such as health insurance, life
insurance, medical plan, paid vacation, pension
Ethics A system of moral principles.
Social Responsibility the obligation of a business to contribute to society
whistle-blowing informing the press or government officials about unethical practices
within one's organization
OSHA (Occupational Safety and Health Administration) Government Agency that is
meant to ensure safe and healthful working conditions for working men and women by setting
and enforcing standards and by providing training, outreach, education and assistance.
EEOC (Equal Employment Opportunity Commission) The Government agency that
oversees discrimination in the workplace
planning function of management setting organizational goals, developing strategies to
reach those goals, determining resources needed, setting precise standards
, Mission Statement a statement of the organization's purpose - what it wants to accomplish
in the larger environment
operational planning very specific, short-term planning that applies tactical plans to daily,
weekly, and monthly operations
Strategic Planning the process of determining the major long -term goals of the
organization and the policies and strategies for obtaining and using resources to achieve those
goals
SWOT analysis a planning tool used to analyze an organization's strengths, weaknesses,
opportunities, and threats
Franchise A business established or operated under an authorization to sell or distribute a
company's goods or services in a particular area
Line organizational structure A hierarchy where the lines of authority run vertically from
the top to the bottom of a business
Questions and Answers Verified by Experts
Herzberg's Two-Factor Theory proposed that work satisfaction and dissatisfaction arise
from two different factors - work satisfaction from so-called motivating factors and work
dissatisfaction from so-called hygiene factors
Theory X management belief that employees work only for rewards or to avoid
punishments
Theory Y management belief that employees are intrinsically motivated to do good work
Theory Z manager Believes that workers seek opportunities to participate in management
and are motivated by teamwork and responsibility sharing
HR Responsibilities Includes recruiting, hiring, training, Appraising, firing, inclusion
Recruiting the process of locating and attracting qualified applicants for jobs open in the
organization
,Employee Benefits Indirect and non-cash compensation such as health insurance, life
insurance, medical plan, paid vacation, pension
Ethics A system of moral principles.
Social Responsibility the obligation of a business to contribute to society
whistle-blowing informing the press or government officials about unethical practices
within one's organization
OSHA (Occupational Safety and Health Administration) Government Agency that is
meant to ensure safe and healthful working conditions for working men and women by setting
and enforcing standards and by providing training, outreach, education and assistance.
EEOC (Equal Employment Opportunity Commission) The Government agency that
oversees discrimination in the workplace
planning function of management setting organizational goals, developing strategies to
reach those goals, determining resources needed, setting precise standards
, Mission Statement a statement of the organization's purpose - what it wants to accomplish
in the larger environment
operational planning very specific, short-term planning that applies tactical plans to daily,
weekly, and monthly operations
Strategic Planning the process of determining the major long -term goals of the
organization and the policies and strategies for obtaining and using resources to achieve those
goals
SWOT analysis a planning tool used to analyze an organization's strengths, weaknesses,
opportunities, and threats
Franchise A business established or operated under an authorization to sell or distribute a
company's goods or services in a particular area
Line organizational structure A hierarchy where the lines of authority run vertically from
the top to the bottom of a business
