Advanced Marketing - Managing your own business

1. Management is the process of achieving goals through the use of ______,______, and ______.

2. What duties are entailed in the following levels of management?

a. Top management –

b. Middle management –

c. Supervisory management –

3. What is horizontal organization and why is the movement toward this type of organization?

4. What is empowerment (self managing teams)?

5. Describe some characteristics of the following management functions:

a. planning –

b. organizing –

c. controlling –

d. staffing -

e. directing –

6. What are some effective management techniques?

a. e.

b.f.

c.g.

7. What are some ways to motivate your employees?

Hiring employees:

8. What is a job description?

9. As a manager, what are some examples of ways that you can provide good new employee orientation procedures?

10. What are some examples of business ethics?

11. What are some skills/habits that you would look for in an employee that you were considering to give an advancement/promotion to?

12. What are some things that may affect your business’s profit?

13. What are some factors that may affect the productivity of your workers?

14. If you are an employee, what should you do before leaving a job?

15. What technology components may impact the business that you are managing?

Nature of Business Records for Managers/Business Owners to Understand

18. What are Accounts Receivables?

Examples:

b. Accounts Payables?

Examples:

Why is a Purchase Order needed in a business?

19. A ______describes how much cash comes in and goes out of a business over time (like a checkbook register). This statement is important because it tells you how much money you have to pay your ______. Cash into your business is your ______. What are some sources of cash flow into your business? ______

20. Expenses (cash out of business) that it takes to run your business are called ______. What are some examples of these?

21. The ______summarizes the business’s income and expenses (profit or loss) during a specified time period (month, quarter, year).

a. Basic calculations for an income statement are as follows:

b. ______- ______and ______= Net Sales

c.______- ______= Gross Profit

d.Gross profit – operating expenses = ______

e.______- ______= Net Income

22. What are variable expenses?

Fixed expenses?

Allowances?

Discounts?

Returns?

Markups?

Markdowns?

Sales expenses?

Extensions?

Exchanges?

23. A ______is the summary of a business’s assets and liabilities and indicates the financial condition of that business.

A. Assets are:

  1. Liabilities are:

C. Assets – liabilities = ______.

D. What are accounts receivables?

E. What are accounts payables?

F. What is depreciation?

24. What are some factors that affect how a business will price its products to its customers?

a.d.

be.

c.