Organizational Direction



SPAccess information in the database system CSAdapt communication to the cultural and social differences among clients Participants should explain that communication is the process of exchanging messages between a sender and a receiver. They should identify that one must be an effective communicator, in terms of both sending and receiving messages, to be successful in adapting communication to the cultural and social differences among clients. Some of the areas of communication that the participant should identify are: effective listening skills – this allows a person to identify the purpose of the speaker, give feedback, and evaluate the speaker’s message barriers to communication – can be impeded by the distance and position from the speaker, or verbal impediment through the use of vague or unclear language non-verbal cues – a person’s tone of voice, emphasis and body language are critical because they often communicate as much as (if not more than) the speaker’s actual wordsParticipants should identify that cultural and social differences occur among clients and the most successful way to adapt their communication to these differences is to ask questions, observe and listen for feedback. They should watch for non-verbal feedback and respond appropriately when given. They must alter their sales approach, as they should for all clients (no two clients are the same and the same sales approach will not work on everybody). Adaptability, thinking on one’s feet, creativity and responding to feedback are all tools that they should employ when communicating with clients. The main focus of marketing today should be to create effective communication methods and a communication mix appropriate to each of the diverse groups active in the market.Diversity marketing recognizes the influence of cultural programming and acknowledges that different consumer groups have life experiences in different cultural and social settings. Because of this different cultural programming, the tastes, values, expectations, beliefs, ways of interaction, ways of entertainment, and lifestyle preferences of these groups tend to be different from others. These differences require the creation of customized marketing strategies.SPAdapt written correspondence to targeted audiences Choose appropriate methods of delivering the written correspondence (email? letter? social media?)Writing in a style appropriate to the audienceHow formal or informal should the writing be (official correspondence must be formal)Provide context so that the information supplied makes senseConsidering how much information and detail the audience will needAvoiding specialist terms. “Translate” these to make yourself understood by a general readerEnsuring the intended meaning of the sender and the interpreted meaning of the receiver are one and the same. Effective communication exists when the message is fully understoodCSAdhere to company protocols and policiesCompany policies should be meticulously read and properly followed. This would include the test drive policy, which states that an employee must accompany all customers on test drives, that test drivers must be licensed drivers, all test drivers must be 18-years old or older, and all test drivers must fill out an information sheet with contact information.PQAdjust to change Globalization and technology continually change the dynamic of work environments and the business cycle at large.In order to succeed as a business, workers must learn to adjust to these changes.Once a company adopts philosophies, procedures, and protocols reflective of a change, employeesCSAnalyze company resources to ascertain policies and procedures A set of policies are principles, rules, and guidelines formulated or adopted by an organization to reach its long-term goals and typically published in a booklet or other form that is widely accessible.Policies and procedures are designed to influence and determine all major decisions and actions, and all activities take place within the boundaries set by them. Procedures are the specific methods employed to express policies in action in day-to-day operations of the organization. Together, policies and procedures ensure that a point of view held by the governing body of an organization is translated into steps that result in an outcome compatible with that view.Does the student share insight on the cost of their promotional ideas?Does the student consider media policies?Is their plan realistic for the company? Participant demonstrates and adheres to the following policies and procedures as stipulated in the case study:Customers can make special orders for an extra feeWhen signing an order form, customers are told that the delivery date can fluctuate 7-10 business days.The participant may be innovative in devising solutions or new policies for the store insofar as they do not contradict any of those already mentioned. Examples of such policies are:For deliveries that are late at the fault of the store, the customer may choose another item Customer may pay an additional fee for express delivery on the existing orderCustomer may pick up the itemAnalyze employer expectations in a business environmentemployers expect a lot of things from their employees, including cooperation, initiative and a strong work ethicemployees need to display a willingness to follow directions, to learn job tasks and skillsevery job is very different and so their job descriptions, employers expect employees to ask questions and show a desire to learn the job and perform it wellemployers hire people who they feel will help their company earn more money, or do better to contribute to the success of the company, no matter their role in the businessemployers expect a positive attitude, dependability, willingness to continue to learn/grow, initiative and cooperationthey also expect workers to adapt to the environment quickly and maintain a positive environmentPQAnalyze employer expectations in the business environment SPAnalyze impact of specialization/division of labor on productivity CSApply information to accomplish a taskTo follow through and successfully accomplish a task, you need to do the following:Organize thoughts and activities wellTake time out to reflectNot operate in crisis modeKnow who needs to be in the loopHave a fundamental desire to complete thingsSet deadlinesShould a loan be granted for the whole amount or part of it, the following steps will be taken:Contract signed (principal, interest, term, amortization period, payment schedule)Date set for money to be deposited into the business’s accountSPApply project-management tools to monitor and communicate project progress PQApply written directions to achieve tasks SPAscertain employee’s role in meeting organizational goalsThe intent of organization goals is to focus employees’ efforts to attain those goals. Employees involved in attaining these goals will be more engaged, productive and efficient in their day-to-day effort, and will remain with the business longer because they have some ownership in the company’s success. Effective goal management is about getting every employee to use and develop their talents, skills and experience to help the organization meet its overarching goals.The organization’s goals are to rebuild the finance department, and, to find areas of improvement to sustain company growth As Director of Finance, rebuilding the finance department will entail assessing the existing department – work and employees – determining how to streamline or improve the kinds of work being done – listening to department employees’ ideas – fitting the skills of employees to that work – building individual’s skill setsAs Director of Finance, finding areas of improvement to sustain the company growth will entail: researching the history of the company; learning from the head of the company what specific goals and long-range direction the business has; knowing from your own experience what practices are or could be incorporated to align the department with the company goals; communicate expectations and company direction to the department and get input from them; set measurable goals for each employee and assess annual performance based on these thingsPQAsk relevant questions CSAssess information needs A needs assessment is a systematic process for determining and addressing needs, or "gaps" between current conditions and desired conditions or "wants". The discrepancy between the current condition and wanted condition must be measured to appropriately identify the need. The need can be a desire to improve current performance or to correct a deficiency. A needs assessment is a part of planning processes, often used for improvement in individuals, education/training, organizations, or communities. It can refine and improve a product such as a service a client receives. It can be an effective tool to clarify problems and identify appropriate interventions or solutions. By clearly identifying the problem, finite resources can be directed towards developing and implementing a feasible and applicable solution. Gathering appropriate and sufficient data informs the process of developing an effective product that will address the group’s needs and wants. Needs assessments are only effective when they are ends-focused and provide concrete evidence that can be used to determine which of the possible means-to-the-ends are most effective and efficient for achieving the desired results.Assess personal interests and skillsAn important part of attracting the right talent for a job is job analysis – a detailed study of the specific duties in a particular job and the human qualities required for that job.These specific interests and skills desired in a candidate must be communicated through the job description such that applicants can fairly assess whether or not their interests and skills are best suited for the role.The HR representatives, through the hiring process, can then do the same assessment for each candidate who applies and qualifies for an interview based on the qualities represented in their resumes. This allows for careful recruitment of qualified, interested, and motivated individuals who are prepared to commit to a positive work environment.As the business grows, job descriptions may change along with the skills needed to perform. Professional development opportunities (i.e. technical courses, training programs, etc.) must be provided to encourage employees to improve themselves and keep up with the evolution of the industry.PQAssess personal interests and skills needed for success in business An important part of attracting the right talent for a job is job analysis – a detailed study of the specific duties in a particular job and the human qualities required for that job.These specific interests and skills desired in a candidate must be communicated through the job description such that applicants can fairly assess whether or not their interests and skills are best suited for the role.The HR representatives, through the hiring process, can then do the same assessment for each candidate who applies and qualifies for an interview based on the qualities represented in their resumes. This allows for careful recruitment of qualified, interested, and motivated individuals who are prepared to commit to a positive work environment.As the business grows, job descriptions may change along with the skills needed to perform. Professional development opportunities (i.e. technical courses, training programs, etc.) must be provided to encourage employees to improve themselves and keep up with the evolution of the industry.PQ590994548260Assess personal strengths and weaknessesStudent answers could take a number of different forms. A good business related way of answering would be to apply the SWOT Analysis to their own-self.SWOT Analysis: A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, straightforward model that assesses what an organization can and cannot do as well as its potential opportunities and threats. The method of SWOT analysis is to take the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). Once this is completed, SWOT analysis determines what may assist the firm in accomplishing its objectives, and what obstacles must be overcome or minimized to achieve desired results. SPBalance personal and professional responsibilities SPBuild and maintain relationships with customers Customer relationship management is a strategy for understanding your customers and their needs to optimize your interactions with them. Maximize your marketing and customer service capabilities to build and maintain customer relationships.There are many strategies to build and maintain relationships with customers. Examples include:Enrich and customize the way you communicate with your customersNetwork online through points of contact on a company website and/or social mediaIdentify your best customers. Take the time to understand their wants and needs so you can find ways to add value to them.Research, analyze and understand your customers, their motivations, their wants and needsProvide stellar customer service; being consistent over the long-term will build loyaltyPersonalize offers and offer flexibility Reward repeat businessEncourage social media sharingPromise, deliver and manage marketing campaigns. People have the best of intentions but sometimes they just don’t follow through. This can be detrimental to business.Keep in touch. Even just a quick email or phone call speaks volumes to how much the company cares about a customer.Be clear. Emphasize the key pieces of information that the customer needs to know.CSChoose and use appropriate channel for workplace communicationChannels of workplace communication include the following: team meetings, email, staff meetings, impromptu office chats, employee publications, letters, intranet, video, newsletter notice boards, open forum, web casting and similar activitiesKnow when formal and informal communication should be used; e.g. memo versus letter; e-mail versus a letterKnow when formal language should be usedKnow when verbal communication would be adequate in lieu of a formal means such as a letterCSCoach others The term coaching typically refers to methods of helping others to improve, develop, learn new skills, find personal success, achieve aims and to manage life change and personal challenges. Coaching commonly addresses attitudes, behaviours, and knowledge, as well as skills, and can also focus on physical and spiritual development too. Usually coaching contains some or all of these features:one-to-one?- involving a coach (teacher, trainer, mentor, coach) and learner (student, trainee, sometimes called the 'coachee')on-going and regular?- coaching is commonly a continuing arrangementpersonalised?- by the coach for the individual learnerenabling?- rather than prescriptive or imposedadapted and adaptable?- to the changing needs of the learnerplanned?- the coach normally works to a plan or structuremodel-based?- coaching tends to be based on a structured 'proven' tested concept or methodologyfocused on aims?- coaching normally works towards achieving agreed measurable outcomes measured and recorded?- by the coach, and/or the learnertime-based?- coaching sessions, schedules, and outcomes normally are time-boundSPCollaborate on and aggregate complex internal documents to create a common voice PQComplete a job application CSComply with policies and procedures for use of property and equipment SPConduct a risk assessment of an event SPConduct an environmental scan to obtain business information CSCreate and post basic web page CSDefend ideas objectivelySupport ideas with factsLeave opinion and emotion out Be conscious of tone of voiceThe company must answer complaints quickly and to the customer’s satisfactionThe participant may indicate defending ideas objectively: Supporting their ideas and answers with facts and business terminologyAnswer questions effectively and in detail.CSDemonstrate a customer service mindsetA service mindset is an outlook that focuses on creating customer value, loyalty and trust. A business with this outlook wants to go beyond simply providing a product or service. It wants to create a positive and indelible imprint in the customer's, or even in the prospects, mind. To do this, a business has to care about the customer or prospect experience and work continuously at enhancing it.Participants can mention any or all of these customer-service skills/techniques:Demonstrate good customer relations by doing the following: consider and attempt to meet their needs, concentrate on them without distractions, follow up with them, follow through on what you say you are going to do, and be efficient in handling issuesListen carefully to the customer’s complaint and acknowledge that you are there to help—you view negative customer interactions as opportunities to learn even more about the customers’ needs and expectationsTurn upset customers into lifelong customersPQDemonstrate active listening skillsActive listening involves being an active participant in the listening process. Meaning and evaluation of the message being received must happen before you can respond to the speaker. Active listening can be communicated through the following techniques:Face the speakerMaintain eye contactMinimize external distractionsRespond appropriately to cue that you understand (verbal “mmhmm” or nonverbal head nodding)Focus on what is being said, rather than what you think they will say nextKeep an open mind – try not to decide whether you agree or disagree or make assumptions until after the speaker is finished delivering the messageEngage yourself by asking questions or paraphrasing to ensure understanding, but avoid interrupting the speakerCSDemonstrate AdaptabilityDefinition – ability to cope with unexpected changesThe individual should be able to show flexibility and willingness to learn, take initiative, share ideas and take direction. SPDemonstrate appropriate creativity SPDemonstrate basic data mining techniques Demonstrate basic database applicationsPQDemonstrate basic database applications PQDemonstrate basic email functionsuse clear subject linesput the most important information in the first paragraphkeep messages shortavoid use of slangpay attention to spelling, grammar, punctuation, and good sentence structure—you are representing the companybe careful what you say—email is very publicsend a carbon copy to only those that need to receive it—people have too many emails alreadyproofread carefully before you senddon’t send emails in all capital letters—it implies shoutingdon’t send chain letters from office email accountsknow the functions of email—send, send all, attachments, reply, reply all, unsend, etc.PQDemonstrate basic presentation applications PQDemonstrate basic spreadsheet applications PQDemonstrate basic web-search skills PQDemonstrate basic word processing skills CSDemonstrate collaborative/groupware applications SPDemonstrate connections between company actions and results (e.g., influencing consumer buying behavior, gaining market share, etc.) Most companies will compare their actions and results by having set some specific objectives and seeing how closely they are meeting them. This involves:establishing what specific objectives the company wants to achievewhat steps need to be taken to achieve those objectiveshow often will results be measuredhow will results be measured (how do you define successfully meeting objectives?)how results will be reported and acted uponPQDemonstrate ethical work habits PQDemonstrate honesty and integrity PQDemonstrate initiative PQDemonstrate interest and enthusiasm SPDemonstrate negotiation skillsEffective negotiators must have the skills to determine the interest of each party in the negotiation. Negotiators must be prepared for meetings determining goals and alternatives to the stated goals. Negotiators also demonstrate active listening to find areas for compromise, exercise emotional control even when meetings get frustrating, and have the ability to communicate clearly and effectively to avoid and/or clarify misunderstandings.PQDemonstrate personal information management/productivity applications CSDemonstrate problem solving skills.Students are to demonstrate problem-solving skills.One possible model to problem solveIdentify the specific problem and create a concise problem statementDetermination of why/how this problem occurredIdentify the possible causes of this problem (situation analysis)What are the possible solutions (alternatives)Select the best possible solution (recommendation)Create an implementation planPQDemonstrate responsible behaviorThe disclosure of all relevant financial and operating informationCompany must provide pricing options that the customer can understand—pricing transparencyCompany must make a profit and be responsible to its shareholdersCompany has dealt with complaints in a timely and ethical mannerThe participant may indicate responsible behaviour:PQDemonstrate Self-controlSelf-control is demonstrated by an ability to control one’s emotions, desires, or behaviours. The person should:Remaining calm, thus allowing the customer to remain calm as well.Refraining from taking the complaint personally. This will allow the person to resolve the situation without having emotions come into play.Demonstrate an ability to think logically, rationally and confidently to demonstrate competence and focus on finding a solution for the customerPQDemonstrate systematic behavior CSDemonstrate the wise use of creditCredit is a way to receive cash or goods now and pay later, most commonly by a credit card or a loan. The participant should demonstrate knowledge of the importance of using credit responsibly by discussing the following: Can the buyer afford the item in the first placeWould it be better to use savings instead of credit?Should the purchase be put off until a later date?Do the benefits of purchasing now on credit outweigh the costs, including fees and interest charges?Using credit wisely can build a better credit history allowing you better interest rates as well as a better image with lenders. It is important to avoid the temptation to buy more than you can afford, especially when purchasing a new vehicle where most often they are bought on credit. Failing to repay a loan can ruin your credit history and could lead to losing income, property or the car itself in the process.SPDescribe crucial elements of a quality cultureRespect for individual Balance – work/lifePride in work – identification with ideals of the firm/shared goalsUnderstanding of each individual's role in organizational structure – contribution to successRecognition for performanceHonesty in all transactions/positive attitudeInclusive policiesCommunication channels – formal and informalFreedom to develop/career paths/career planning/promotion potentialOpportunity for "whistleblowing" SPDescribe current business trendsThe following are 2017/18 increasing trends:Mobile device usage Device securitySocial mediaLocation marketing (e.g., restaurants near me)Personalizing marketingBetter voice recognition (and customer service opportunities)Artificial intelligence to find sales leads and new clientsVideo usageOn demand delivery (ordering online, quick delivery)Companies focusing on being more environmentally friendlyCompanies that connect people with services (Uber, Airbnb)Remote employees (working from home)Data analytics (garnering information from social media and websites to improve the customer’s experience and drive sales)Crowd fundingSPDescribe data mining tools and techniques SPDescribe factors that affect the business environmentThe internal business environment includes factors within the organization that impact the approach and success of your operations. The external environment consists of a variety of factors outside your company doors that you typically don't have much control over. Managing the strengths of your internal operations and recognizing potential opportunities and threats outside of your operations are keys to business anizational DirectionThe role of company leadership is an important internal business factor. Your leadership style and the styles of other company management impact organizational culture. The positive or negative nature, level of family-friendliness, effectiveness of communication and value of employees are cultural implications that result from leadership approaches. Companies often provide formal structure or direction with mission and vision statements. These are forward-looking statements that provide the business for company decisions and activities.Other Internal FactorsThe strength of your employees is another crucial internal business factor. Motivated, hard-working and talented workers generally produce better results than unmotivated, less-talented employees. Your business processes and relationships within and between departments and employees also significantly impact business effectiveness and efficiency. In a high-performing workplace, employees not only have talent, but they work well together and collaborate on ideas and resolutions.External CompetitionOne of the most critical external business factors is competition. Whether you operate in a concentrated industry with a few major competitors or a large industry with many competitors, you need to know the competition. Many companies do competitive analysis to compare their offerings and prices to those of competitors. When developing business philosophies and products, it is helpful to use your strength in quality production, customer service or operational efficiency to build competitive advantages that benefit your customers.Other External FactorsOther common external factors fall into several categories, including socio-economic, legal or ethical, political and technological. Socio-economic factors relate to the values, attitudes and concerns of your target customers and their economic abilities to afford your products. The legal, ethical and political environments generally relate to your need to abide by business laws and to meet the ethical or social responsibility standards of your customers and communities. In some industries, technological evolution drives the need for companies to adapt and constantly research for petitionEconomic environmentPolitical environmentChanges in technologySocio-cultural environment (including location of the business)Changes in demographics Changes in the natural environmentPQDescribe functions of money (medium of exchange, unit of measure, store of value) PQDescribe health and safety regulations in businessParticipant should address the requirement for businesses to operate according to municipal/provincial/federal regulations. Additionally, the participant may state that adhering and exceeding such regulations are imperative when providing a service to the public and contributes to the customer experience. Governments have also established health and safety regulations to protect the consumer from harm emanating from products e.g. Food & Safety and product labeling regulations SPDescribe legal issues affecting businesses CSDescribe marketing functions and related activitiesSeven functions of marketing:Marketing information management – the process of getting the marketing information needed to make sound business decisions (marketing research) Financing – getting the money needed to finance the operation of a business (obtaining a bank loan; offering credit to consumers) Product planning – all the decisions a business makes in the production and sale of its goods and services (products to carry, branding, labeling, packaging, etc.)Pricing – deciding how much to charge for goods and services (takes competition into consideration & how much a consumer is willing to pay)Promotion – any form of communication used to inform, persuade, or remind people about a business’ products OR to improve a firm’s public image (TV and radio commercials; specially designed perks as gifts with purchase-McDonald’s toys/glasses) Selling – providing customers with goods and services they want to buy (to the end user and in the industrial market as materials for business operations) Distribution – making decisions about where to sell your product including the method of transportation (i.e. truck, rail, ship or air) and the storage of itemsSPDescribe methods used to protect intellectual property SPDescribe small-business opportunities in international trade PQDescribe sources of incomeA source of income is any stream of revenue or profit centre that a business has. PQDescribe techniques for obtaining work experience (e.g., volunteer activities, internships) Work experience can be obtained through:Volunteer positionsCo-operative education programsInternshipsJob ShadowingPracticum placementsCSDescribe the concept of insuranceInsurance is the promise of a guaranteed payout in the event that a specified situation or loss occurs, in exchange for the payment of a premium. The insurance company determines your premium based on your risk or likelihood of having to collect on the policy. For example, an inexperienced driver will pay more car insurance than an experienced driver who has a clean record. Underwriting is the process of evaluating the risk to be insured; an actuarial will do the calculation. From the insurance company’s viewpoint, a number of people will pay premiums which collects into a “pool”. If a claim arises, it is paid from the pool. As the group paying premiums gets larger, the odds of a claim are more predictable, and as a result, the premiums will be lower.Describe the concepts of economics and economic activitiesA resource is considered scarce when its availability is not enough to meet its demand. Scarcity is based on the idea that oftentimes a limited supply of goods or services comes up against an ever increasing demand for it and that, as such, every effort must be made to ensure its proper utilization and distribution so as to avoid inefficiency.The scarcity of goods and services is brought about by factors such as the limited supply of resources (for example, water, land or people) and the limited capabilities of technology or human skill (for example, those needed for enhanced production).Participant demonstrates and adheres to the following policies and procedures as stipulated in the case study. Answers may include:Economics is the study of production, distribution and consumption of goods and servicesEconomic factors and activities that affect business include supply and demand of goods and services, labour market conditions and inflation. These factors cannot be controlled by individuals, but they can be anticipated. Successful businesses know how to adapt to economic changesOther economic activities students may mention:Microeconomics – markets, specialization, supply and demand, market failure, firms, public sectorMacroeconomics – growth, the business cycle, inflation, monetary policy, fiscal policy and regulationEconomics deals with the production, distribution and consumption of goods and services. Economic activities include:ManufacturingBuyingSellingTransportingInvestingResources of a nation will help determine which economic activities should be pursued.The Participant should focus on the economic activities of selling and buying as it pertains to the case and the importance of using them to determine pricing of goodsCSDescribe the concepts of economics and economic activities SPDescribe the determinants of exchange rates and their effects on the domestic economy SPDescribe the economic impact of inflation on a businessInflation is a period of constantly rising pricesInflation causes businesses to frequently have to adjust their prices upwards or make their products smaller.When prices go up, consumers need more money to have the same purchasing power, therefore, they ask for higher wages. The companies then must increase wages. They can afford to do this by raising the prices of their products. It is a cycle.CSDescribe the functions of prices in marketsPrice is the value in money placed on a good or service. One function of price is that it can affect the value that a customer places on an item. Price helps establish a company’s or product’s image – many customers use price as a gauge to make judgements about products and companies. Price can give a competitive edge as well as ultimately allow the business to satisfy their end goal to make a profit. The participant could discuss the pricing and how it creates an image for the retailer, as a higher price typically alludes to a higher end image, while lower prices usually indicate a lower end store.SPDescribe the impact of a country's history on world trade CSDescribe the impact of a person’s social media brand on the achievement of organizational objectives.To be successful, internal social media initiatives must focus first and foremost on the development of emotional capital, which we define as the aggregate feelings of goodwill toward a company and the way it operates. Sponsors, attendees and future participants will look at ALL social media to make their decisions, and if the overwhelming message that is being seen is negative it will have an impact.SPDescribe the impact of electronic communication tools (e.g., Internet, video- and computer conferencing, webcasts, email) on global business activities SPDescribe the impact of the political environment on world trade SPDescribe the nature of budgets SPDescribe the nature of business recordsParticipants should make the connection between business records and business decisions based on those records. Points to address this may include:Inaccurate records could lead to an under or over projection of the business’s financial position in its financial statements.Since these statements are used to make business decisions by management and investors, it can lead to misinformed business decisions as well as billing and delivery errors.Business records are also used as reference points if and when the company is audited, thus these records must be accurate and maintain for future use.SPDescribe the nature of cash flow statementsWhere does the cash come from? Where does it go?Shows what used/provided cash for the organization over a specific period of time. It focuses on change from one accounting period to the next.It is broken down into 3 sections:Cash Flows from Operating Activities – from the day-to-day business of the organization. Cash Flows from Investing Activities – shows the cash outlay for capital expenditures and acquisitions. Cash Flows from Financing Activities – cash received from borrowing and cash used to repay SPDescribe the nature of customs regulations PQDescribe the nature of emotional intelligenceEmotional intelligence (EI) is the ability to identify, assess, and control the emotions of oneself, of others, and of groupsThe following categories of EI seem to be relatively well known:Perceiving emotions – the ability to detect and decipher emotions in faces, pictures, voices, and cultural artifacts—including the ability to identify one's own emotions. Perceiving emotions represents a basic aspect of emotional intelligence, as it makes all other processing of emotional information possible.Using emotions – the ability to harness emotions to facilitate various cognitive activities, such as thinking and problem solving. The emotionally intelligent person can capitalize fully upon his or her changing moods in order to best fit the task at hand.Understanding emotions – the ability to comprehend emotion language and to appreciate complicated relationships among emotions. For example, understanding emotions encompasses the ability to be sensitive to slight variations between emotions, and the ability to recognize and describe how emotions evolve over time.Managing emotions – the ability to regulate emotions in both ourselves and in others. Therefore, the emotionally intelligent person can harness emotions, even negative ones, and manage them to achieve intended goals.SPDescribe the nature of entrepreneurship An entrepreneur is a person who sees an opportunity and sets up a business taking financial risk in the hope of profit. They are characterised by being: hardworking, tenacious, visionary, creative, adaptable, ambitious, committed, determined, good decision-makers, calculated risk-takers, positive, motivated, eager to learn and collect information, opportunistic, are challenged by problems, successfully manage chaos.SPDescribe the nature of income statementsAn income statement describes a company’s revenues and expenses along with the resulting net income or loss over a period of time due to earnings activities. Participants should relate income statement accounts to the bakery industry.Describes a company’s revenues and expenses along with the resulting net income or loss over a period of timeShows how profitable the company is over a specified period of timeShows Sales (Revenues) less cost of doing business (Expenses) = Net Income (ProfitSPDescribe the nature of legal procedure SPDescribe the nature of legally binding contracts SPDescribe the nature of taxesDespite the common misperception, taxes play a positive role in our livesBy collecting taxes, government is able to improve the standard of living for all citizens – with better services and roads, transit, health, education, recreational and cultural facilities and programsWith good jobs and low unemployment, the personal income tax base is stronger, and with prosperous businesses, the corporate tax base is also healthy, fueling even more funding for city-provided goods and servicesBy levying reasonable taxes, the quality of life enjoyed in the city can be improved – they may wish to survey the public regarding thisThe city may wish to begin dialogue with those businesses that will benefit from a new convention centre regarding a limited special sales tax or surcharge to help with financing (a downtown improvement tax)The large, successful home-based insurance company should definitely be approached first about “headlining” sponsorship or a corporate municipal tax credit for a financial donationCSDescribe the need for financial information PQDescribe the scope of the InternetThe Internet, is a global network that facilitates the exchange of data and information between users around the world. The Internet is used to access and exchange information, through such tools as websites, e-mails, blogs, news sites, social media sites, etc. Twitter, Facebook, LinkedIn and many job search sites may be used to reach potential managersSPDescribe the United States' judicial system SPDescribe the use of technology in customer relationship management Relationships have increased in importance in the field of business and marketing in the recent past. This importance can be linked to the changing nature of competition and technological developments. In this context, the question that has been posed is how these two factors affect the development of relationships. In the case of competition, relationships can serve as the basis for competitive advantage, while technology serves as the enabler of relationship building.SPDescribe the use of technology in human resources managementTechnology has changed the business world many times over. In the Information Age, the advent of computers and the Internet has increased that impact significantly. Many businesses cannot even function without the use of computer technology. This impact is seen in nearly all areas of business, including human resources, where technology continues to have a significant impact on HR practices.Recruiting One way in which human resources has been significantly impacted by technology is in the area of recruiting. Before the Internet, HR recruiters had to rely on print publications, such as newspapers, to post jobs and get prospects for open positions. Other methods such as networking also were used, but HR recruiters did not have the ability to post a job in one or more locations and have millions of people see it all at once. Technology has made recruiting more efficient and, in the hands of the right recruiter, more effective as well.Training Information technology makes it possible for human resources professionals to train new staff members in a more efficient manner as well. The ability to access company information and training programs from remote locations eliminates the need for trainers to work directly with new hires on all training. Some interaction will always be necessary on some level, of course, but training in virtual classrooms makes it possible for the HR professionals to train a large number of employees quickly and to assess their progress through computerized testing programs.Data Storage and Retrieval Human resources professionals generally process a considerable amount of paperwork and also have to keep much of that paperwork on file for a considerable period of time. The use of electronic imaging has made it possible for companies to store and retrieve files in an electronic format. Technology also makes it possible for human resources professionals to simply print the forms that are needed for employees. Printing on demand eliminates the need to dig through an endless number of files in the file cabinet to find what is needed.Performance Management Enhanced performance management is another by-product of technological improvement. Human resources professionals can use computer technology to assess employee performance and also to get employee feedback to be used for the betterment of the organization. Various software programs make it possible for human resources professionals to examine employee performance using metrics to ensure that employees are meeting performance standards. Employees that don't measure up can be subjected to additional training or let go in favor a replacement that can come in and do the job.SPDescribe the use of technology in operations CSDescribe types of business activities SPDescribe types of business models CSDescribe types of financial service providersBanks and Credit unions provide chequing and savings accounts, investment vehicles, as well as loans and mortgages.Investment banks which provide financial services to corporations (IPOs, mergers, underwriting, etc.)Insurance companies provide life insurance (term and equity), and insurance for your car, house, health, etc.Accountants specialize in many things such as tax, small business, audit, financial analysis Financial planners will help a family understand, plan and implement a saving/spending planInvestment companies and brokerages provide stocks, bonds, mutual funds, etc. for people to invest inThree different types of financial service providers : Dealer, local bank, finance companyAll provide loans for the customer to purchase the car however they have different amounts of payments and annual percentage ratesCreates and sells financial products or services. Banking, securities, real estate, and insurance are all financial service industriesan investment portfolio company advises clients how/where to investpayment to the financial investment company may be either flat fee (per year, per month….) or a % of the portfolio, such as 1-2% of the amount the customer investsCSDetermine economic utilities created by business activitiesEconomic utility is defined as the measure of satisfaction received by a consumer from consuming a good or service. Generally, the more of a good or service is consumed, the greater the utility, however the additional satisfaction, or amount of utility, gained from each extra unit of consumption decreases. This concept is known as Marginal Utility. For example, the economic utilities created by businesses operating in a food court would be the satisfaction gained by consuming the food offered and the satisfaction associated with the experience of receiving the food in a timely and pleasant manner. In order to maintain a high utility of the food court overall, the businesses operating in the food court must be carefully selected such that the product and service variety is seemingly diverse.The participant should be able to identify and explain the ability of the online sales and/or storefront to satisfy the needs of the consumer. They may argue either for or against e-commerce. The participant should provide sufficient justification for their choice. Answers may vary widely.CSDetermine factors affecting business riskBusiness risk is the potential for business loss or failure3 kinds of business risk: economic, natural and humanEconomic- occur from changes in overall business conditions (competition, changing consumer lifestyles, population changes, limited usefulness or stylishness of some products, product obsolescence, government regulation, inflation or recession)Natural- result from natural causes (weather conditions-floods, fires, hurricanes, etc.)Human-caused by human mistakes and the unpredictability of employees or customers (dishonesty, carelessness, incompetence, accidents, illness, non-payment of accounts)There are many types of risks businesses face—political, financial, social, economic, legal, theft, safety, etc.There are many types of risks faced in the restaurant industry—alcohol, underage drinking, fire, burns, food poisoning, spills, broken glass, etc.It is important that businesses anticipate possible risks and create plans to deal with these risks.If possible, businesses should find ways to make certain that the risks are prevented before they occurCSDetermine personal visionGuiding principles that influence daily decisions as well as overall direction. For a community – personal vision must encompass best interest of general population of community as a whole. Creativity, personal beliefs, values and community expectations should be included.SPDetermine the impact of business cycles on business activities SPDetermine the nature of organizational goalsCompany’s overall goal is its mission statementCompanies set long term (1-3 years) and short term (less than 1 year) goalsCompanies set strategies to attain the goalsCompanies need to set sales targets and/or performance expectations for employees, to give employees a frame of reference for self-managementGoals can be categorized as: financial (profitability, increased sales, market share), customer-centred (service), product-related (innovations), operational efficiencies, regulatory objectives, and, employee learning and growth related. CSDetermine the relationship between government and businessNB: students may struggle with this unnecessarily confusing phrasing ("determine") crafted by US DECA ernment and business can work separately or in partnership with each other.They can work together to provide goods and services to people in P3s - public - private partnerships. Often these partnerships are formed to build expensive infrastructure like hospitals, roadways and even athletic stadiums or to provide essential goods and services to those in ernment-run businesses can also be sold to private people (privatization)CSDetermine ways of reinforcing the company’s image through employee performanceThe participant should identify the need for positive employee performance and mention some of the ideas listed below:tellers can improve customer satisfaction by carefully, quickly and pleasantly handling . customer transactions, and, knowing the various services offered by the bank as well as who can help the customer with those services. Banking staff can improve the bank’s image by being thoroughly prepared, and on time, for client meetings. pleasant greeting and a reassuring departure are useful tools in maintaining a good imageOffer helpful comments during and after a sale transaction and always thank the customer in order to build a good relationshipFollow up on all promises made to a customer, and check on their level of satisfaction after a purchasePositive customer-client relations require compassionate and immediate action when dealing with complaints and inquiries. Creating a harmonious working environment will improve employee morale and be genuinely passed on to the customerCSDevelop an achievement orientationAchievement orientation is about getting results. It can be about working toward excellence or a personal desire to do better than before. People who are achievement oriented set high standards. Achievement orientations have been shown to be associated with individuals’?academic achievement, adjustment, and well-being. An employee with strong Achievement Orientation will be:Open to new challengesHave a greater ability to anticipate obstaclesWilling to be held accountable for their actionsFocus on identifying ways to do things betterLearn how to initiate actions to improve personal performanceCultivate new strategies for obtaining informationBecome more successful in taking advantage of opportunitiesDeveloping this orientation includes the activities to promote or enhance this orientation, such as: ?setting realistic goals, monitoring the attainment and alignment of these goals.CSDevelop personal budget SPDevelop project plan Recognize that incremental improvements are not sufficient to address the (fundamental) problems in the business described.Identify clear objectives for what the project will be about; improving the way the store is operated from the customer’s perspective.Identify steps that will need to be taken to achieve the desired resultsA project plan answers the following basic questions regarding the project:Why? - What is the task related to the project? Why is the project is being done?What? - What are the activities required to successfully complete the project? What are the main products or deliverables?Who? - Who will take part in the project and what are their responsibilities during the project? How can they be organized?When? - What exactly is the project schedule and when can the milestones be completed?CSDevelop rapport with customers.Rapport is all about highlighting common interests and establishing a mutual feeling of friendliness. When people like each other – whether in business, friendship, or both – they tend to help each other.Most salespeople are naturally enthusiastic, positive, and outgoing people, but that doesn't necessarily mean everyone will like you off the bat. Here are three ways you can increase your rapport rating with prospects and customers:Match your customer's style. Pay attention to how your customer prefers to communicate and get in step. Does your customer prefer to get right down to business, or warm up by engaging in small talk? What kinds of things does he or she find funny, interesting, or intriguing? If your customer talks quickly and loudly, make an effort to match that energy. Trust builds rapport. Your customers will learn to trust you if you do what you say. Keep your commitments, call when you say you will, and always follow through. Be careful not to make promises you might not be able to keep. Too many salespeople make well-intentioned commitments, only to find themselves unable to find time to fulfill them. They may not always lose a sale because of this, but they're certainly not building the kind of trust that will make that customer anxious to give referrals.Another way to build trust is to demonstrate that you're interested in their well-being -- beyond your own profit potential. Know and appreciate your customers' needs beyond your product. See what you can do to help them meet those needs. Little things like finding information for them or putting them in touch with other suppliers tend to make a big difference.Practice reciprocity. When you treat people in a certain way, they tend to want to treat you in the same way. Find ways to treat your customers as valued members of your professional and even social circle. In life and in business, the little things make a big difference.SPDiscuss actions employees can take to achieve the company’s desired results. Employees, all have the responsibility on behalf of the store of satisfying the customer’s needs (motives) Employees have to realize that their success and enjoyment on the job depends on how successful the store is, so they have to be prepared to contribute to helping the store to become more successful.CSDiscuss considerations in selecting a financial-services providersChoose someone who listens carefully and understands your needs. Do you trust them?Does their approach match what you’re comfortable with and want?Check that they have a qualification in financial planningCheck that they have a successful history (how many clients they have, whether any disciplinary actions have been taken, how long they’ve been a planner, what products they’re registered to sell, their track record, whether this is the only thing they do)Ask for referencesCompare fees with other plannersPQDiscuss principles of computer systems Discuss service orientation through communicationService orientation refers to a focus on service. In communication, service orientation can be maintained by demonstrating emphasis on customer service in all communication. SPDiscuss the global environment in which businesses operate SPDiscuss the impact of a nation’s unemployment ratesThe currency market is the most driven by the Employment Report. An unanticipated rise in employment, for example, means a rise in the dollar. Reactions to surprises relate to the implications on short-term interest rates. The currency market has become increasingly sensitive to the data and pays particular attention to the unemployment rate.The bond market is concerned with what the unemployment rate may indicate about inflation and interest rates. A strong employment report may indicate an economy that is heating up too quickly, leading economists and traders to become concerned about inflationary pressure. However, it can also raise concerns about tighter monetary policy and forthcoming interest rate increases. The equity market looks for rising employment as a sign of corporate optimism and growth potential. It is also concerned with inflation and interest rates, but to a lesser degree.SPDiscuss the impact of bribery and foreign monetary payments on business SPDiscuss the impact of cultural and social environments on global trade Understanding different cultures and social norms – better understanding of customers – better marketing effortsUnderstanding of different cultures and social norms helps to establish better supplier/buyer relationshipsSPDiscuss the impact of globalization on business SPDiscuss the importance of ethics in data mining SPDiscuss the importance of utilizing ethical purchasing methods SPDiscuss the measure of consumer spending as an economic indicator SPDiscuss the nature of customer relationship managementCustomer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growthCSDiscuss the nature of data mining SPDiscuss the nature of debtor-creditor relationships System for collecting money from other businesses:Sales team generates sales invoice and sends one copy to the customer and one to Accounts ReceivableA/R records daily invoices and payments, and, prepares the daily deposit cross-checking that the electronic total (keyed in to the system) = physical total (physical cheques and wire/electronic transfers)To minimize losses on foreign exchange, payments need to be in our country’s currency (not the international clients’)A/R overdue reports are printed (at least) monthly; overdue accounts are contacted Delinquent accounts can be sold to collection companies, have legal proceedings started to collect, or be written offSystem for collecting money from in-store customers: In stores, a debit/credit machine purchased from Moneris or like-company, is needed to transfer sales money from the teller to the company’s bank account; these daily cash sales are reconciled and fees are recordedFrom on-line sources, daily cash sales are reconciled and fees are recordedA payment system for companies selling to other companies would include the following: Companies applying for credit terms prior so they can be invoiced rather than pay COD (cash on delivery)Companies paying their debts primarily by company cheque or wire transferLarge, multi-period bills like contracts will often require interim/progress paymentsA return policyPayment terms of 30 days with interest charged on overdue accountsLetters, collection agencies, legal follow-up for delinquent accountsFor companies selling to the general public (outlet stores, brand name stores), payment system components would include:For in-person sales, accepting cash, debit card, or credit card (no personal cheques)For online purchases, the company can set up a shopping cart check out, or arrange a 3rd party payment system (like PayPal), or accept e-transfers; shipping must be included; and, the currency must be our country’s currencyA return policySPDiscuss the nature of environmental law CSDiscuss the nature of human resources managementHuman resources management refers to the management of a business’s workforce. Human resources management involves a variety of functions including recruiting, hiring, training, evaluation, performance management, benefits, compensation, employee health and safety, ensuring adherence to labour laws, etc. Effective human resources management processes and procedures are critical to the efficient and successful operation of a business, and can have an impact on the organization, its employees, and its customers. Human Resources Management [HRM] is a set of organizational activities directed at attracting, developing, and maintaining an effective workforce.It involves processes such as hiring, orientation, professional development, counselling, and dismissals through which the department tries to motivate and retain qualified personnel to operate the company effectively.CSDiscuss the nature of information managementInformation management is the collection and management of information from one or more sources and the distribution of that information to one or more audiences. It also refers to the organization and control over the structure, processing and delivery of information. Students may summarize this be saying that IM is the ability of a business to use information about its products, customers and competitors to its advantageSPDiscuss the nature of law and sources of law in the United States /Canada Legislation?is enacted at all levels of government in?Canada?- the federal government, the provinces and territories, municipalities - and forms a major body of law. Our elected representatives introduce and debate proposed?laws?dealing with matters within their jurisdiction.There are three sources of law in Canada:Constitutional Law (derived from the Canadian Constitution) and is based on the BNA act 1867 (Socials 10), the Constitution Act 1982, and the Canadian Charter of Rights and Freedoms. It overrides Statute and Common Law.Statute Law (derived from elected government representatives at all levels of government) Some examples of Statute Law are: The Criminal Code, the Highway Traffic Act, and the Youth Criminal Justice Act. These laws override Common mon Law (aka Case law) is based on previous precedent-setting legal decisionsThere is Public Law and Private Law.Public Law is where people or businesses are prosecuted in the interest of the public by government representatives (Crown lawyers).Private Law is where an individual or group wants to sue another individual group for damages to person or property. This is also know as Civil Law.SPDiscuss the role of administrative law SPDiscuss the role of ethics in accounting SPDiscuss the role of ethics in finance SPDiscuss the role of ethics in operationsEthics in operations, specifically purchasing, involves conducting business with suppliers/vendors in good faith, granting all competing suppliers/vendors fair and equal consideration, requiring honesty and accurate representation of goods and services from all suppliers, and ensuring activities are conducting according to the law and business policies.CSDistinguish between economic goods and servicesEconomic goods are tangible items such as products or materials that satisfy consumer wants or needs.Economic services are intangible and satisfy consumer wants or needs such as haircuts, dry cleaning, or massages. Services cannot be owned or returned by someone as could be with a good. Services are delivered by a service provider who is paid to do so by a consumer.CSDistinguish between using social media for business and personal purposesSocial media for business is?extremely?different than social media for personal use. While the broad concepts are somewhat similar, there are several differences that are important to know. Here are three major ones:HashtagsPersonal Use: Hashtags are meant to designate the topic of your post. In a social context it could be something like #Halloween2015 to populate your post when anyone searches for anything on the topic of Halloween2015.Professional Use: Though they have little importance to people who use social media for personal reasons, hashtags are essential?for small businesses on Facebook, Twitter, Instagram and Pinterest. They can help people find your business easily, and they expand the reach of your posts.No matter which social network you use,?hashtags are important.?They are a key component of social media marketing, and it’s important to learn how to use them properly.ImagesPersonal Use: Typically, people share photos of their vacations, the food they eat and anything else they find interesting. Photographs are interesting to look at, and sometimes simply writing a post about something doesn’t do it justice.Professional Use: When it comes to marketing your business, photos serve a very different purpose. Instead of showing what you’re up to and who you’re with, it’s better to show pictures of your products and any ads or promotions you have going on at the time.When it comes to social media marketing strategy, there’s much more to images than you think. For a personal profile, you can pretty much upload any images you want (although consider who you have in your personal networks who may be tied to your professional networks). For a business, that’s not the case. It’s important to learn what type of images to use, and what to do with them once they’re uploaded. AnalyticsPersonal Use: Analytics are a way to collect data about your website or your Facebook business page, and they really don’t apply to a personal profile. Long story short,?they have no personal use, and most people have never seen them.Professional Use: Analytics are?critically?important to a successful social media campaign for a small business. You can use them to measure who is looking at your website, when they look at it, where they are, and what pages they click on. Facebook also has its own analytics program called Insights that measures data for your business page. The information you gain from this data is crucial to the future success of your business. Without it, you will have a hard time tailoring your online marketing strategy to the specific needs of your business.When it comes to your personal profile, analytics are nonexistent and unnecessary. When you use social media for a business, however,?they are crucial to success. They can be data-heavy and difficult to comprehend. That’s why it’s important to learn how to interpret them properly, so you can use this data?to your advantage.CSEdit and revise written work consistent with professional standards CSEmploy communication strategies appropriate to target audienceWritten communications dispatched by mail e.g. statements detailing tax liabilities and payment schedules. Paper-based items sent by mail have the advantage of providing a clear, fileable statement that is likely to reach its intended recipient. Writing is used when you have to provide detailed information such as figures and facts, even while giving a presentation. It is also generally used to send documents and other important material to stakeholders which could then be stored for later use as it can be referred to easily as it is recorded. Oral communications: customers can 'phone in' with their queries. They can also speak directly to the employee who is managing their account. Oral communication allows most misunderstandings to be resolved immediately. Oral communication could be said to be the most used form of communication. Whether it is to present some important data to your colleagues or lead a boardroom meeting, these skills are vital. In recent years verbal communication has been replaced to a great extent by a faster form of written communication and that is email.Online communications. Today consumers can complete their Tax Return, claim tax credits and do a variety of other business with the Inland Revenue directly online, thereby saving a great deal of time. An important advantage of this method is that ongoing 'help' is provided by pop-up help facilities. This is a cheap, quick and efficient means of communication.Advertising on TV and in the press e.g. to alert people to payment deadlines or to eligibility for tax credits. CSEmploy communication styles appropriate to target audienceWhen choosing a communication style, one must consider the audience and their needs. In order to get to know the audience and to communicate effectively, you must identify: what information are they seeking, how will they use this information, how much information do they need to make a purchasing decision, what is their budget, what obstacles must you overcome with the target audience. Based on this information, you can decide how much data and detail to divulge or how much emotional language and connection to establish. The participants should discuss appropriate methods for the desired audience. In general, some questions that should be considered regarding your audience are:How important will the audience see your message as being? Does your communication ask the audience to take some action? How much information does your audience need? What obstacles must you overcome with the target audience? What are the benefits to your audience of what you have to communicate? How will your audience use this information? What method of communication is best suited to this message? In addition, you should consider how formal and how detailed you wish your communication to be. Use language and terminology that are appropriate to the audience.CSEnlist others in working toward a shared visionShow others the benefits of a shared vision (could be a positive work environment where employees want to go to work and enjoy being there leading to increased productivity and cohesiveness).Model behaviours from the top down so others see how it can and will work.Gather feedback and input from others about what the vision should be and how it can be achieved.Involve them in the process so they have ownership to it.SPEvaluate project results / successPrior to starting a project objectives need to be set in order to be able to evaluate the success of the project when complete.Evaluate stakeholder and customer satisfaction. Ask a simple question to all parties involved: Were you satisfied with the result? If not all parties are satisfied, it is a sign there were inefficiencies in the project. To help you decide what changes might be made to future projects, ask all parties involved what could have been improved to make the project successful, and make changes as necessary to future projects.Determine if the project met its business objectives. Ask end users of the project if the results meet their needs. The end user can be anyone who is utilizing the results of the project and can include outside customers. For small businesses, the end users are often the same people who worked on the project. If the project did not meet its objectives, it is usually a sign of insufficient resources or unclear objectives. For future projects, make sure objectives are understood at the outset and that the project is given sufficient resources.Evaluate end-user adoption. Reach out to the end users of the project to determine if they are utilizing the results of the project as expected. If not, ask what changes are needed to make the results useful. Determine the frequency with which they are utilizing the results. If the project is successful, you will find high-end user adoption and frequent use. If end-user adoption is low, consider including end users in the charter stage of your next project to ensure the outcome is something they will find useful.Evaluate the final delivery of the project. Some projects have excellent outcomes but create unnecessary headaches. Ask all parties involved in the project if the delivery of the final result went smoothly. Were they able to quickly implement the results, or did the results of the project leave them confused? Were the results well explained, or did they have to follow up with extra questions? If the stakeholders feel like the project was not delivered properly, define delivery objectives at the outset of future projects. This ensures the project manager continues to focus on the project throughout the delivery stage.See if the project met governance requirements. At the outset, most projects elect an advisory committee to review the project's outcome. In very small businesses, the reviewer is often an individual, such as the owner or president. Check with the project’s other advisors. Was the project adequately reviewed throughout the process? Did the project manager check in with advisors regularly? Was the review process too frequent or not frequent enough? If the reviewers believe the project was not adequately reviewed, it is time to review the project governance policy. Consider a more frequent or stricter review schedule for future projects.See if the project provided benefits to its stakeholders. Ask all parties involved, including end users, if the project has resulted in benefits for the business and its employees. Are the benefits substantial or a small improvement? What additional benefits would you like to see from future projects? Successful projects create noticeable benefits. If the project has not realized benefits, it doesn't always mean the project wasn't executed successfully. If the objectives of the project were met but benefits were not realized, carefully review the objectives of your next project to ensure they will result in noticeable benefits.CSEvaluate quality and source of informationNot all information is created equal. Just because you find information at the library does not guarantee that it is accurate or good research. In a business setting, being able to critically evaluate information is necessary in order to conduct quality research. Each item you find must be evaluated to determine its quality and credibility in order to best support your research. To evaluate a source consider the following:Authority - Who published the source? What is the purpose of the publication? Where does the information in the source come from? Does the information appear to be valid and well-researched, or is it questionable and unsupported by evidence. Who is the author? What are the author's credentials (educational background, past writing, experience) in this area? Have you seen the author's name cited in other sources or bibliographies? Is the content a first-hand account or is it being retold? Primary sources are the raw material of the research process; secondary sources are based on primary sources.Currency - When was the source published? Is the source current or out of date for your topic?Purpose - What is the author’s intention? Is the information fact, opinion, or propaganda? Is the author's point of view objective and impartial? Is the language free of emotion-rousing words or bias? Is the publication organized logically? Are the main points clearly presented? Do you find the text easy to read? Is the author repetitive?SPEvaluate vendor performanceThe participant should consider the following when evaluating a vendor’s merchandise. Will the merchandise suit their target customer? Is the merchandise the right fit for their image and stores? Is the quality and styling of the merchandise something that works with their reputation? Costs of the merchandise - to the retailer (including shipping costs) – costs to the public Production capabilities, past experience, product quality, the availability of special buying arrangements or services that correspond to this vendor When dealing with a vendor for the first time, buyers might solicit references to determine the vendor’s reputation. Many businesses maintain resource files and journals that document past experience with vendors. Such a journal may include an evaluation of product quality, delivery performance, and customer service. Returns relating to the quality of products may cause a vendor to be dropped.Participant should address methods of determining success such as: Sales Customer satisfaction Returning customersPQExhibit a positive attitudeIndicators of a positive attitude include the following Maintain positive body languageSmile and nod when listening to customer’s concernsAvoid crossing your arms in front of your chest – this demonstrates that you are ‘closed’ and not listening to what the customer is sayingAcknowledge the customer’s concerns and reassure them that you understand what they are saying and that you will do whatever you can to ensure that their concerns have been addressedAvoid getting angry and using negative words or tone of voiceAvoid using a demonstrative tone with the customer or becoming confrontational with themCSExhibit cultural sensitivityExhibiting cultural sensitivity may start with language lessons, but more often extends to learning the etiquette, protocol, communication styles, and negotiation approaches of various international business associates and clients.PQExhibit self-confidence CSExplain career opportunities in entrepreneurship PQExplain communication techniques that support and encourage a speakerCommunication techniques that support and encourage a speaker include both verbal and non-verbal communication. Techniques like active listening, maintaining eye contact, exhibiting positive body language, speaking clearly and in an appropriate tone are all techniques that can support and encourage a speaker. SPExplain cultural considerations that impact global business relations SPExplain employee's role in expense control CSExplain employment opportunities in business Employment opportunities may be based on the duration of employment (Temporary v. Permanent) in addition to quantity of hours worked weekly (Part Time v. Full Time) as well as the method of compensation (Paid v. Internship v. Volunteer v. Job Shadowing)SPExplain ethical considerations in providing information. Information ethics has been defined as "the branch of ethics that focuses on the relationship between the creation, organization, dissemination, and use of information, and the ethical standards and moral codes governing human conduct in society". It provides a critical framework for considering moral issues concerning informational privacy, moral agency, new environmental issues problems arising from the life-cycle (creation, collection, recording, distribution, processing, etc.) of information (especially ownership and copyright, digital divide, and digital rights). Dilemmas regarding the life of information are becoming increasingly important in a society that is defined as "the information society". Information transmission and literacy are essential concerns in establishing an ethical foundation that promotes fair, equitable, and responsible practices. Information ethics broadly examines issues related to ownership, access, privacy, security, and community.SPExplain factors that influence customer/client/business buying behaviourBuying Behavior is the decision processes and acts of people involved in buying products/services. Businesses need to understand:Why consumers make the purchases that they make?What factors influence consumer purchases?The changing factors in our society.There are 3 main categories of factors that influence buying behaviour:Personal: demographics factors such as gender, race, and agePsychological: motives, perceptions, ability and knowledge, attitudes, personality, lifestylesSocial: opinion leaders, roles and family influences, reference groups, social class, culture and sub-culturesThere are 4 types of buying behavior that vary in degree of the customer’s involvement in the process:Routine Response/Programmed Behavior – buying low involvement frequently purchased low cost items; need very little search and decision effort; purchased almost automatically. Examples include soft drinks, snack foods, milk etc.Limited Decision Making – buying products occasionally. When you need to obtain information about an unfamiliar brand in a familiar product category, perhaps. Requires a moderate amount of time for information gathering. Examples include clothes.Extensive Decision Making/Complex – high involvement, unfamiliar, expensive and/or infrequently bought products. High degree of economic/performance/psychological risk. Examples include cars, homes, computers, education. Impulse buying – no conscious planningPQExplain forms of financial exchange (cash, credit, debit, electronic funds transfer, etc.) Credit enables a business or individual to purchase goods and services in exchange for a promise to pay later. It is most helpful when consumers want to make major purchases, though it is often used for more common, less expensive items. Customers typically use a credit card to make such purchases. Businesses may have credit cards for their managers, but typically, businesses negotiate credit terms for ongoing purchases, like n/30 (net amount due in 30 days).Consumers using a debit card authorize a seller to withdraw funds directly from the consumer’s bank account at the time of sale. Businesses make direct payments by electronic transfer (online or through their bank).A cash sale is any transaction in which the customer pays for the item with cash or a cheque. Other forms of retail sales transactions include: Layaway means removing merchandise from stock and keeping it in a separate storage area until the customer pays. In an on-approval sale, an agreement is made permitting a customer to take merchandise home for further consideration before paying. A COD sale is a transaction that occurs when a customer pays for goods at the time they are delivered.PQExplain forms of financial exchange (cash, credit, debit, electronic funds transfer, etc.) SPExplain how digital communications exposes business to risk (e.g., email, text messages, chats)With digital information, there is risk of unauthorized leaking of confidential information regarding customers, employees, company finances, and intellectual assets, as well as the company’s reputationWith social media, companies have little or no control of what the public says about them, or who sees the social media content. The heightened level of vulnerability and exposure created by e-business necessitates a brand new level of digital risk sensitivity directed by a hyper-aware board and senior management and permeate throughout the extended organization. Perhaps the greatest risk of all in the e-business world is the harm to reputation and the catastrophic, unlimited financial consequences that could stem from liability claims by damaged stakeholders (customers, suppliers, shareholders, etc). As the Internet continues to evolve as a business tool, stakeholder accountability will be the prime motivator. SPExplain how organizations adapt to today's markets CSExplain information privacy, security, and confidentiality considerations in business Businesses must protect their information from parties outside the business (hackers, infiltrators) and also protect their information from inappropriately leaving the business (employee carelessness and theft).Control the flow of electronic data by using firewalls, virus protection, passwords, encryption, frequent backups, IP security for data in transit, secure wireless transmissions, limit the rights of recipients to copy/resend.All the company’s financial information must be secured and not breached. This includes amounts of money as well as lists of people (customers, payables, shareholders) and things (assets, bank accounts, assets).Research shows a strong correlation between trust and willingness to participate in other financial services.SPExplain legal considerations for accounting SPExplain legal considerations for finance There are laws associated with all Balance Sheet items in a business. Examples include: agents, assignments of accounts receivable, bankruptcy, bonds and indentures, commercial paper, common stock, conditional sales contracts, consolidation, contracts, corporations, cumulative voting, directors and officers of corporations, dividends, documents of title, leases, marshalling of assets, mergers, mortgages, non-voting stock, no par stock, options, partnerships, payroll, preferred stock, promoters, proxies, sales, stockholders, voting and voting trusts, and warranties. Businesses must follow municipal, provincial, federal and international laws when conducting business.SPExplain legal issues associated with information management CSExplain legal responsibilities associated with financial exchangesCustomers are responsible for all transactions they enter into – including online transactions where they provide credit card or other financial dataBank responsible for fraudulent credit card transactions if credit card agreement offersBank responsible for transactions which occur after a debit or credit card has been reported lost or stolenBanks responsible for transactions which occur if a device is placed on a debit or credit card machine which copies customer dataBanks responsible for transactions which occur if bank system is hacked intoSales are legal contracts where goods are transferred from the seller to the buyer for a price. Payment occurs with the buyer delivers the agreed price and the seller accepts it. The receipt of goods is when the buyer takes physical possession of the goods. When an item is sold and the buyer pays, or promises to pay using credit, it becomes a legal transaction and the buyer is legally contracted to pay the agreed amount within the agreed time frame. Extending credit, usually involves filling out paperwork and receiving approval to ensure that the (potential) buyer will be able to pay the indicated amount within the time given. CSExplain marketing and its impact in a global economyParticipants should describe marketing as the function of business used to communicate messages from a company to existing and potential customers around the worldWell thought-out marketing strategies are needed to effectively reach a company’s full market potential In a global economy, a business’s marketing must reach beyond national borders and messages need to take into consideration additional factors such as: socio-cultural environments of different nations, language and contextual differences, acceptable marketing strategies and content, etc.Without global marketing strategies, potential customers in other countries will not be aware of your company, brand, or product/service offering. PQExplain possible advancement patterns for jobsAdvancement for jobs is typically linear. As you gain experience, acquire new skills, and develop your knowledge of a specific subject area in an organization, you increasingly become more qualified and capable of the job responsibilities of your supervisor. This pattern continues and as you take advantage of professional development opportunities you may be promoted up the corporate ladder. Sometimes, a lateral move is possible in which you apply your skill set in a different department working with a different team. CSExplain procedures for handling accidentsHire staff with the proper qualifications—first aid, CPR, customer service certifications, alcohol handlingStaff need to be thoroughly trained to handle accidentsCreate a procedures manual to teach staff how to deal with a variety of risk situationsTrain the staff on the manualWhen an accident has occurred, help the customer, contact the manager, solicit whatever help is necessary—ambulance, follow up to make sure the customer is fine, fill out an accident report, discover what can be done to make certain that this type of accident does not occur again.According to the WSIB (Workplace Safety Insurance Board):Get first aidInform employer and ensure payment for transportation and immediate medical carePay workers wages for the day of the injury Report injury to the WSIBAn ‘exceeds expectations’ answer will include preventative measuresThis needs American terminology as wellCSExplain routine security precautions Routine security precautions will be to (1) ensure the safety of the staff and (2) ensure the security of the business and its inventory. Staff must be reminded that safety is their?personal responsibility. To avoid loss-time accidents and repercussions for themselves and the business, they should:Always follow the correct procedures.Never take shortcuts.Take responsibility?and clean up if you made a mess.Clean and organize?your workspace.Ensure a clear and easy route?to emergency exits and equipment.Be alert and awake?on the job.Be attentive?at all times to your work surroundings.When in doubt,?contact your supervisor or manager for instruction, guidance, or training.Never take risks?when it comes to safety.Obey?safety signs, stickers, and tags.Take short breaksYour retail business takes precautions to protect the store and its contents. But accidents, oversights, and thefts are all-too-common in the retail industry, which means even the most comprehensive line of defense may still leave your business exposed to risk. time. Explain routine security proceduresSPExplain the benefits of supply chain collaboration CSExplain the concept of accountingAccounting is defined as the art of recording, classifying, and summarizing in terms of money, transactions and events which are financial in natureBank reconciliation is the process of comparing and matching figures from the accounting records against those shown on a bank statementAccounting concepts that would be applicable to a bank reconciliation include:Going Concern – where accountants assume that the company is not going brokeConsistency – valuation methods are treated the same way from month to month, allowing users to make more meaningful comparisons of financial informationMatching – journal entries resulting from “outstanding” bank items should be matched with the income earned for a specific accounting periodParticipants should be able to identify and explain accounting fundamentals as they apply to this situation. The participant’s address may include:Accounting involves the careful and accurate recording of the transactions of a business.These records are used to formulate financial statements that represent the financial position of the business.Accounts payable handles invoices charged to the company on orders madeCSExplain the concept of competitionCompetition?is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market-share growth. In any industry it is important that companies distinguish themselves from competition by promoting their competitive advantage – how/what makes the company better than competitors. This ultimately gives consumers a reason to choose one competitor over another and drives sales. Competition benefits consumers by helping to maintain reasonable prices, providing new and improved products, and providing a wide selection of products from which to choose. It forces businesses to operate efficiently. Competitors can be direct (the same products are offered) and indirect (different kind of product that can satisfy the consumer’s need).CSExplain the concept of economic resourcesEconomic resources are defined as the means through which goods and services are made available to consumersAnother term for economic resources are factors of productionThe three types of economic resources are natural resources, human resources, and capital resourcesNatural resources are those raw materials we get from the earth, water, and airHuman resources are the people who work to produce the goods and services; also known as the workforce or labour, and includes both the physical and mental work performedCapital resources are man-made resources such as buildings, equipment and money that is used to produce goods and servicesThe proposed new convention centre will utilize both the city’s human and capital resources in a productive mannerTo not utilize these available economic resources would stifle continued economic development, a commitment and vision the city has already embarked uponSPExplain the concept of Gross Domestic Product (GDP) CSExplain the concept of leadershipSomeone they respectSomeone who has a vision and is able to execute strategy to achieve that visionTrusted by and has the confidence of subordinatesCommunicates effectively – helps employees understand company’s business strategy, understand how they can contribute to the success of the organization, share information with employees on how the organization and division is doingOrganizes groups of people to achieve a common goal.Leadership styles differ among various individuals.Is able to motivate others to work together while following goals/instructions.Good leaders increase productivity of companies as well as creativity and overall effectiveness.CSExplain the concept of management SPExplain the concept of organized labor and business CSExplain the concept of private enterprisePrivate enterprises are organizations owned and operated by individuals and not on behalf of government institutions.CSExplain the concept of productionThe participant should recognize some of the following characteristics of production:Identify the job/task Identify the resources or data required to transform resources into goods and services The logistics of getting the job/task done efficiently, correctly, and safelyImpact of job/task on customer satisfaction/experienceSuccessful production focuses on achieving high production?efficiency, low costs, and mass distribution.CSExplain the concept of productivity PQExplain the concept of self esteem CSExplain the concept of supply chain SPExplain the economic impact of interest-rate fluctuations SPExplain the impact of a country's economic development on world trade SPExplain the impact of geography on world trade SPExplain the impact of major trade alliances on business activities SPExplain the impact of political relationships within an organizationImportance of the social network/informal communicationPower – formal/position power versus informal/social powerRelationships outside formal chain of command – contactsNetworking – ability to get job done in different waysSPExplain the impact of political relationships within an organization SPExplain the impact of the law of diminishing returns SPExplain the impact of the purchasing process on productivity CSExplain the nature and scope of purchasingThe purchasing function of a business ensures that all production materials or inventory items are available for use when needed. Effective purchasing must be cost effective and efficient and take into account the quality of raw materials, where they are coming from, and what future costs are expected to be (will raw materials increase in price over time, will there be a shortage of raw materials due to external factors, etc.). Purchases must stick to a budget communicate effectively with the accounting/finance department.SPExplain the nature of agency relationships SPExplain the nature of balance sheetsDescribes a company’s financial position at a given point in timeA snapshot of the company’s financial structureShows assets (what a company owns), Liabilities (what a company borrowed, its obligations) and equity (contributions from owners – common stock – plus contributions from profit – retained earnings).The Balance Sheet must balanceSub-ledgers provide detail for all line items on the Balance SheetWhen compared with past years’ Balance Sheets, the health of the business can be determined.Managers, owners and investors use Balance Sheets to analyse and evaluate the current operations of a business and suggest changes/improvements.SPExplain the nature of business ethicsBusiness Ethics is a specialized study of right and wrong where selling and business decisions are based on truth, honesty, integrity, and exemplary morals. It concentrates on moral standards as they apply particularly to business policies, institutions, and behavior. Ethical problems are problems of choice. Ethical problems arise not because of people’s tendency to do evil, but because of the conflicting nature of standards and interests, which are valid in themselves. Actions considered unethical are to over exaggerate claims or make unrealistic promises to clients, or to conceal information to make a deal, or to divulge confidential information in order to get ahead. Problems in ethical decision-making and behavior occurs only when individual interests and social norms conflict?with each other. Choices in business often involve a trade between ethics and economics – a difficulty for businesses motivated by profit when they must choose to lower profits in order to make the better ethical decision.PQExplain the nature of effective communicationStudent answers will vary however they should indicate that communication is effective when it is clear, easy to understand and consistent and, at some point, apply the idea of effective communications to the case. Communication can be verbal, written and non-verbal (body language). It includes questioning, listening, observing, empathy, good word choices, and honesty. Communication is also effective if it is well matched to the target market or target audience of the particular product or message – it should “speak to” the target audience in a clear, inclusive and informative manner. Communication is the process of exchanging messages between a sender and a receiver. Effective communicators need to understand channels of communication and media, barriers to communication, non-verbal cues, and have effective listening skills. In addition, one must be prepared to read for meaning, speak properly, and write effectively. Channels (or media) are the avenues through which a message can be delivered; e.g., email, intranet, newsletters, conversations, bulletin boards, meetings, letters. The choice of medium depends on the nature and importance of the message. The more important the message, the more likely the message should be face-to-face.Written communication must be clear, error-free, empathetic, and succinct. The subject and information should be easy to find and understand. Using an active voice, short words, and avoid jargon. Communication may be impeded by a number of barriers, including physical barriers such as distance and position from the speaker, and verbal barriers such as using vague or unclear language. Lastly, a person’s non-verbal cues—such as his or her tone of voice, emphasis, and body language—are critical because they often communicate as much as the speaker’s actual words.PQExplain the nature of effective verbal communicationEffective verbal communication is achieved by knowing your audience and knowing your topic.Be as clear and as specific as possible in all verbal communications and especially when you are asking someone to carry out a task.To ensure the intended message is not miscommunicated or misinterpreted, it is important to be aware of what you are saying, organize your thoughts in a logical way before you speak, and interpret the verbal and nonverbal cues of the recipient to gauge whether your message is making the desired impression. If you are not sure that people understand you, either summarise what you have said in different words, or ask them to summarise your message in their own words.To know your audience, you must listen carefully to what they are communicating (verbal or nonverbal) to identify their needs and wants, and maintain eye contact in order to assess understanding.In order to address a customer’s needs and wants, you must know what you are talking about to gain their confidence in you as an information source in customer service Begin conversations positively. If there is potential for conflict, start off with something on which you both agree to set a positive atmosphere.Explain the nature of effective written communications“Written Communication involves expressing yourself clearly, using language with precision; constructing a logical argument; note taking, editing and summarizing; and writing reports.” Effective communication exists when the message is fully understood so that the intended meaning of the sender and the interpreted meaning of the receiver are one and the same.Students should discuss the factors or issues such as:Focusing on the importance of clarity over styleIdentifying the key points, facts and themesWriting in a logical orderComposing a strong introduction and endingUsing short paragraphs and sentences rather than long, rambling ones.Helping key points to stand out by the use of headings, sub-headings and bullet points. This will allow your reader to quickly scan your message for the main points. Writing in a style appropriate to the audienceConsidering how much information and detail the audience will needAvoiding specialist to make yourself understood by a generalist readerHow formal or informal should the writing beCSExplain the nature of financial needs (e.g., college, retirement, wills, insurance, etc.) Financial needs are the funds needed for the present and the future. In the present, families need money for: rent or mortgage, utilities, food, transportation, clothing, repairs, insurance, taxes, leisure & entertainment, and charity. For the future, money needs to be put aside for children’s education, mortgages, pensions and estate planning. There is the trade-off between spending the money today versus saving the money for tomorrow. A budget is the most common means of planning and balancing the financial needs of today and tomorrow. People have differing levels of financial security with regard to spending versus saving, as well as to the risk versus return of long-term investments.Businesses need money in the present to cover day-to-day expenses (payables), short-term loans, bank payments, and payroll. Insurance is purchased to mitigate various risks. In the future, businesses need money to discharge long-term debts, maintain or replace assets, and expand/improve the business.SPExplain the nature of global trade SPExplain the nature of import/export law CSExplain the nature of office politicsOffice politics is the use of?power?and social networking within an organization to achieve changes that benefit the organization or individuals within it.?Influence?by individuals may serve personal interests without regard to their effect on the organization itself. Office politics can also be impacted by change within the organization.CSExplain the nature of operationsOperations include all the activities involved in the day-to-day functions of the business conducted for the purpose of generating profits. It is the organization of everything the company needs to do business. This includes facility location, facility layout, facilities management and maintenance, purchasing, production scheduling, quality control, inventory management, supply chain management, logistics management, administration, safety & security, and employee relations.SPExplain the nature of organizational cultureOrganization culture are the values and behaviours that contribute to the unique social and psychological environment of an organization. Organizational culture includes an organization's expectations, experiences, philosophy, and values that hold it together, and is expressed in its self-image, inner workings, interactions with the outside world, and future expectations. It is based on shared attitudes, beliefs, customs, and written and unwritten rules that have been developed over time and are considered valid.SPExplain the nature of overhead/operating costsOverhead and Operating costs combine to add up to the costs of operating the businessOperating costs can either be fixed (overhead or operating) or variable (operating)Overhead costs must be paid regardless of the level of production or sales and are relatively constant from month to month (insurance, rent, wages, utilities when they cannot be tracked for individual jobs, supervisor salaries). Fixed costs do not fluctuate due to the number of items sold. The fixed cost per item decreases as more items are sold.Variable costs are for the most part the materials and direct labour used to make the product, and are therefore dependent on the business’ level of production, and change constantly depending on the units of production. Variable costs fluctuate because of the total number of items sold. The variable cost is constant as more items are sold.CSExplain the nature of positive customer relationsA positive customer relations mindset means believing that your customers: deserve the very best, are your employers, deserve your focused attention, have the right to expect things of the company, and have important problems and complaints. Positive customer relations yield benefits to the business, the employees, and the customer. Businesses benefit by being more competitive, obtaining repeat business, and greater profits. Employees may receive customer compliments and perhaps a raise or promotion for good customer service skills. Customers benefit by having a more pleasant, satisfactory buying experience. This creates an atmosphere of goodwill.Positive customer relations need to be demonstrated when speaking to customers in person, over the phone, or online. It should also be evident while handling complaints, inquiries, and requests. Demonstrate good customer relations by doing the following: considering and attempting to meet their needs, concentrating on them without distractions, following up with them, following through on what you say you are going to do, and being efficient in handling issues.SPExplain the nature of project management Project management as we know it today has evolved in order to plan, coordinate, and control the complex and diverse activities of modern industrial, commercial, and management change projects.All projects share one common characteristic – the projection of ideas and activities into new endeavors. The ever-present element of risk and uncertainty means that the events and tasks leading to completion can never be foretold with absolute accuracy. For some very complex or advanced projects even the possibility of successful completion might be in serious doubt.The purpose of project management is to foresee or predict as many of the dangers and problems as possible and to plan, organize, and control activities so that projects are completed as successfully as possible in spite of all the risks. This process starts before any resource is committed, and must continue until all work is finished. The primary aim of the project manager is for the final result to satisfy the project sponsor or purchaser, within the promised timescale and without using more money and other resources than those that were originally set aside or budgeted.SPExplain the nature of Risk ManagementRisk Management strategies are used by business to mitigate the impact of business failures and to eliminate or reduce the possibility of business failures. Businesses often use four strategies of Risk Management: Risk Transfer (moving the risk to another party), Risk Avoidance (eliminating or reducing the likelihood of risk factors), Risk Insurance (purchasing insurance to cover costs associate with realized risks) and Risk Retention (accepting the possibility of risk and not acting). CSExplain the nature of staff communicationThe student should explain the role staff communication plays in the workplace; that is, to uniformly instruct, explain, or provide information to all employees (and stakeholders) at exactly the same time.The means of communicating can be by email, poster, letter, conversation, newsletter, intranet, notice board, meetingThe structure of communicating should be factual, precise, inclusive, clear, succinctGood communication allows companies to be productive and operate effectivelyCan be formal and informal – emails, meetings, conversationsCan include surveys, feedback, help linesCan be through recognition and rewardsCan empower employees if they feel they are able to communicate and express needs/wants/desires or problemsCommunications are generally on-going and regular,?planned, and focused on aimsSPExplain the nature of stress management PQExplain the nature of tax liabilities SPExplain the nature of tools that can be used to access information in the database system CSExplain the need for innovation skillsInnovation skills are the use of new technology, materials, or processes to improve on existing products and services, or how they are produced and distributed.Background: There are many more innovators than there are inventors. Innovators conceive of ways to improve on existing products, processes, or distribution methods. Most innovators develop as a result of the competitive markets; one business tries to become better than another business at something.Being able to think outside the box and share ideas with your employer for the betterment of the company. Innovation skills are needed to meet the quickly changing realities of the banking and finance sector.PQExplain the need for ongoing education as a workerThe average American has at least seven jobs before he/she reaches age thirty. People can expect to change employers several more times before they retire. While some people end up losing their jobs due to downsizing, everyone is affected by it. If managers are cut, individual workers may acquire more responsibilities. The skills you will need to manage new responsibilities may require more education. You may need to update your skills or learn new ones to keep pace with employment trends, as job opportunities shift from one industry to another. The competitive global market puts added demands on workers, as businesses try to stay up-to-date with technology and ways of doing business.One of the key components of human resource management is providing training and education for employees. Education is important on an ongoing basis for many reasons, including:Ensuring employees are continuously aware of any changes and advances in the industry or in their customer base which may affect their businessInforming and training employees on any changes in process or procedure within the workplaceCommunicating relevant laws, rules, and regulations to employeesEnsuring employees have completed all mandatory training such as food safety, etc.Providing employees an opportunity to continuously improve how they do their job Ensuring employees are equipped to provide the highest levels of customer serviceKeeping abreast of new technologyLearning new skills which make the employee more versatile, valuable, and desirable in the market placeAchieving career-related goalsPromoting a can-do, adaptable, more integrative approach to problem-solvingFrom the employer’s perspective, employee education results in longer term retention of employees SPExplain the organizational design of businesses SPExplain the principles of data analysis CSExplain the principles of supply and demandSupply—The quantity of a good or service that producers can provide, determined by the costs of producing and by the price people are willing to pay for it.Factors that can increase or decrease supply:Change in the numbers of producers Changes in price—the higher the price the higher the supplyChanges in technologyChanging expectations for the future—during this economic downturn, consumers may not pay for this luxury item, or it may be an inexpensive luxury item that they can affordChanging production costs—this is a service business, perhaps wages could be decreasedDemand—the quantity of a good or service that consumers are willing and able to buy at a particular price.Factors that can increase or decrease demand:Changing consumer income—consumers may not be able to afford this luxury itemChanging consumer tastes—consumers are spending more money of their petsChanging expectations for the future—see aboveChanges in population—may be more pet ownersWhen supply and demand meet, it determines price and quantity soldsupply goes up, the demand for the product goes down; prices go downsupply goes down, the demand for the product goes up; prices go upCSExplain the purposes and importance of creditCredit enables businesses and individuals to obtain products or borrow cash in exchange for a promise to pay later. For day-to-day operations, businesses use credit (lines of credit) to buy materials and supplies from other businesses now and pay when those materials have been converted to product and sold. Businesses borrow money for the long-term (loans and bonds) in order to purchase assets (buildings, equipment, machinery) and pay debts back on a schedule. Also, companies can extend credit to provide purchasing incentives to customers, enhancing their sales revenue. Credit allows a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. For individuals, this is most commonly made possible through a bank using a credit card. Credit cards create convenience for carriers in not having to find ATMs or carry large sums of cash. They are also more widely accepted than other forms of financial exchange such as personal cheques because they are backed by trusted financial institutions.PQExplain the rights of workers Participant may discuss the following rights of workers:To be treated fairly and ethicallyTo be compensated for work doneTo receive benefits as outlined in company policies and procedures To vacation as per provincial laws and company policiesTo work without harassmentCSExplain the role of business in societyBusinesses provide employment opportunities for people in society. These people become trained, skilled workers through their work experience thereby increasing their work capacity and potential to contribute to the business and the economy. As workers develop, they are paid reflective of their skills, experience, and contributions.Some of the compensation earned by working is spent on consumables purchased from other businesses. This revenue generation allows the businesses to continue to afford to employ more people.The government taxes business income, personal income, and purchases. This money is then reinvested into programs such as health care, education, and infrastructure for the maintenance and betterment of our standard of living.Businesses also have a responsibility to the environment and sustainable practices such that future generations’ quality of life and standard of living aren’t compromised for today’s society.The role of business in society is to meet the needs and wants of consumers, as well as providing good jobs for the workforceBusiness must also demonstrate good corporate citizenshipBy creating a partnership between the city, its citizens and businesses, a win-win situation can be achieved for all – an attractive convention centre that can be enjoyed, that creates good jobs both directly and indirectly, and allows for recognized corporate support and publicityCities should pursue agreements with major corporations to help finance the convention centre in return for sponsorship recognition (joint venture)Provide goods and services to peopleProvide employment to people and therefore compensation and a means of achieving a standard of living.Contribute to the improvement of society through the development of inventions and innovations.Offer essential services to people via public sector businessesOffer luxury services and allow for the consumption of entertainment, the arts, sports, etc.SPExplain the role of ethics in customer relationship managementEthics would require the business to follow all legal requirements and to maintain adequate records, perform audits, train employees regularly and employ all safeguards.Participant could define ethics as it applies to information gathering and management.This is where the participant could indicate how the cashier could have handled the issue differently – addressing the customer’s concern and offering some sort of assurance of a change to the behaviour.The essence of good customer service is forming a relationship with customers – a relationship that that individual customer feels that he would like to pursue. Good customer service is all about bringing customers back. And about sending them away happy - happy enough to pass positive feedback about your business along to others, who may then try the product or service you offer for themselves and in their turn become repeat customers.Customers must be dealt with ethically and believe the company has acted ethicallySPExplain the role of ethics in human resource managementEthics would require the business to follow all legal requirements and to maintain adequate records, perform audits, train employees regularly and employ a diverse group of people.SPExplain the role of ethics in information management Ethics within a company guide behaviours to be in the best interest of all involved parties. Management can ensure ethical treatment of information by incorporating the following:Know and obey the privacy laws where they conduct businessWrite company policies concerning information management – train employees to know this information, and disclose to customers (on the website, perhaps)Protect, secure and restrict access to collected information from inside and outside threatsPlace trust and the well-being of customer information ahead of company profitsSupport ethical behaviour and enforce sanctions against unethical practicesCSExplain the role of finance in businessFinance is the function of business that pertains to money management. On a day-to-day business, finance is responsible to arrange sufficient funds to meet ongoing expenses. The finance department is also typically responsible for company insurance, currency management, and treasury concerns. In the long-term, finance is responsible for planning, raising, maintaining and paying off large sums for capital expenditures.Finance plays a key role in planning a corporation’s start-up requirements (IPO’s), equity and debt financing and management, growth financing, and treasury. There are various financial statements that are used to analyze a company and its financial standing such as: income statement, balance sheet, and cash flow. The participant should demonstrate the importance of finance in any and every business and its operationsPQExplain the role of information systems Explain the role of information systemsInformation system refers to a network of communication and data channels used within a business. Typically the system consists of both hardware and software and is used to facilitate a variety of processes. Information systems can be used for inputting, storing, analyzing and/or distributing data and information. The participant may point out that information systems are used for:Keeping records about customers and providing information about customers to hotel staff Coordinating hotel reservations that are made through various channels, including the hotel website, third party travel websites, or by phone SPExplain the role requirements of entrepreneurs and owners Explain the significance of the buyer’s jobUltimately the buyers job is to have the goods available when the customers want itBuyer determines the amount of money available to make purchases – linked to the idea that carrying too much inventory can also affect cash flow Determine what the customers want – out of sight out of mind – customers must see what they will buyExplore target market, customer preferences, shop the competitionBuyer determines the best supplier of the good and the best time to take deliveries of the good – agreement with distributor to purchase various cards for a term if the return of cards are possibleCSExplain the time value of moneyFuture value of money is different than current valueInflation and deflation cause the value to fluctuate, so a dollar may be worth less in the futureCSExplain the types of economic systemsThe world’s economic systems fall into one of four main categories: traditional economy, market economy, command economy and mixed economy; however, there are unlimited variations of each type. An economic system must define what to produce, how to produce it and for whom to produced it.?Traditional – A traditional economic system is one in which each new generation retains the economic position of its parents and grandparents. Traditional economies rely on the historic success of social customs. South America, Asia and Africa support some traditional economies of thriving agricultural villages. Tradition decides what an individual does for his living, so industry, clothing and shelter are the same as in previous generations.Market – Market economies are based on consumers and their buying decisions rather than under government control. Market trends and product popularity generate what businesses produce. The producers choose how to make products based on the most economically sound decision: that might mean machine labour to save costs or human labour for specific skills. The buyers decide who gets which products by what they are willing to pay for what they want.The market system relies on many factors to ensure its success. The profit motive or incentive for a financial reward for enterprise stimulates production. Information regarding available products and services needs to be available to producers and consumers. Producers use the information to set accurate prices and procure supplies at the lowest cost. Price relates directly to the costs and benefits of product creation and use and required mand – In a command economy, the government controls all economic activity. One example of a command economy is communism. In a government-directed economy, the market plays little to no role in production decisions. Command economies are less flexible than market economies and react slower to changes in consumer purchasing patterns and fluctuations in supply and demand.Mixed – A mixed economy combines qualities of market and command systems into one. In many countries where neither the government nor the business entities can maintain the economy alone, both sectors are integral to economic success. Certain resources are allocated through the market and others through the state. Theoretically, this system should be able to combine the best policies of both systems, but in practice the proportion government controls and response to market forces varies. Some countries rely more on market emphasis and others on state planning.PQExplain the use of feedback for personal growth The term ‘feedback’ is used to describe the helpful information or criticism about prior action or behavior from an individual, communicated to another individual (or a group) who can use that information to adjust and improve current and future actions and behaviors. Effective feedback, both positive and negative, is very helpful.?Feedback occurs when an environment reacts to an action or behavior. For example, ‘customer feedback’ is the buyers’ reaction to a company’s products, services, or policies; and ’employee performance feedback’ is the employees’ reaction to feedback from their manager – the exchange of information involves both performance expected and performance exhibited.All can benefit from feedback. Both common sense and research make it clear – feedback and opportunities to use that feedback helps to improve and enhance, whether an individual, group, business, business unit, company, or organization – and that information can be used to make better informed decisions. It also allows us to build and maintain communication with others.Feedback is?valuable information that will be used to make important decisions. Effective feedback has benefits for the giver, the receiver, and the wider organization. Here are five reasons why feedback is so important.Feedback is always there. If you ask someone in your organization when feedback occurs, they will typically mention an employee survey, performance appraisal, or training evaluation. In actuality, feedback is around us all the time. Every time we speak to a person, employee, customer, vendor, etc., we communicate feedback. In actuality, it’s impossible not to give feedback.Feedback is effective listening. Whether the feedback is done verbally or via a feedback survey the person providing the feedback needs to know they have been understood (or received) and they need to know that their feedback provides some value. When conducting a survey, always explain why respondents’ feedback is important and how their feedback will be used.Feedback can motivate. By asking for feedback, it can actually motivate employees to perform better. Employees like to feel valued and appreciate being asked to provide feedback that can help formulate business decisions. And feedback from client, suppliers, vendors, and stakeholders can be used to motivate to build better working relationsFeedback can improve performance. Feedback is often mistaken for criticism. In fact, what is viewed as negative criticism is actually constructive criticism and is the best find of feedback that can help to formulate better decisions to improve and increase performance.Feedback is a tool for continued learning. Invest time in asking and learning about how others experience working with your organization. Continued feedback is important across the entire organization in order to remain aligned to goals, create strategies, develop products and services improvements, improve relationships, and much more.?Continued learning is the key to improving.SPExplain the use of technology in accounting CSExplain types of business ownership.There are essentially 4 types of business ownership: sole proprietorship, partnership, corporation and co-operative.Sole Proprietor – you are the sole owner, and fully responsible for all debts and obligations related to your business. All profits are yours to keep. Because you are personally liable, a creditor can make a claim against your personal assets as well as your business assets in order to satisfy any debts.Advantages:Easy and inexpensive to registerRegulatory burden is generally lightYou have direct control of decision makingMinimal working capital required for start-upSome tax advantages if your business is not doing well (for example, deducting your losses from your personal income, and a lower tax bracket when profits are low)All profits go to you directlyDisadvantages:Unlimited liability (if you have business debts, claims can be made against your personal assets to pay them off)Income is taxable at your personal rate and, if your business is profitable, this could put you in a higher tax bracketLack of continuity for your business if you are unavailableCan be difficult to raise capital on your ownPartnership – A partnership is a non-incorporated business that is created between two or more people. In a partnership, your financial resources are combined with those of your business partner(s), and put into the business. You and your partner(s) would then share in the profits of the business according to any legal agreement you have drawn up. In a?general partnership, each partner is jointly liable for the debts of the partnership. In a?limited partnership, a person can contribute to the business without being involved in its operations. A?limited liability partnership?is usually only available to a group of professionals, such as lawyers, accountants or doctors.When establishing a partnership, you should have a partnership agreement in place. This is important because it establishes the terms of the partnership and can help you avoid disputes later on. Hiring a lawyer or other legal professional to help you draw up a partnership agreement will save you time and protect your interests.Advantages:Fairly easy and inexpensive to form a partnershipStart-up costs are shared equally with you and your partner(s)Equal share in the management, profits and assetsTax advantage — if income from the partnership is low or loses money (you and your partner(s) include your shares of the partnership in your individual tax returns)Disadvantages:There is no legal difference between you and your businessUnlimited liability (if you have business debts, personal assets can be used to pay off the debt)Can be difficult to find a suitable partnerPossible development of conflict between you and your partner(s)You are held financially responsible for business decisions made by your partner(s); for example, contracts that are brokenCorporation - Incorporation can be done at the federal or provincial/territorial level. When you incorporate your business, it is considered to be a legal entity that is separate from its shareholders. As a shareholder of a corporation, you will not be personally liable for the debts, obligations or acts of the corporation. It is always wise to seek legal advice before incorporating.Advantages:Limited liabilityOwnership is transferableContinuous existenceSeparate legal entityEasier to raise capital than it might be with other business structuresPossible tax advantage as taxes may be lower for an incorporated businessDisadvantages:A corporation is closely regulatedMore expensive to set up a corporation than other business formsExtensive corporate records required, including documentation filed annually with the governmentPossible conflict between shareholders and directorsYou may be required to prove residency or citizenship of directorsCo-operative - A co-operative is owned and controlled by an association of members. It can be set up as a for-profit or as a not-for-profit organization. This is the least common form of business, but can be appropriate in situations where a group of individuals or businesses decide to pool their resources and provide access to common needs, such as the delivery of products or services, the sale of products or services, employment, and more.Advantages:Owned and controlled by its membersDemocratic control (one member, one vote)Limited liabilityProfit distributionDisadvantages:Longer decision-making processParticipation of all members is required in order to succeedPossible conflict between membersExtensive record keepingLess incentive to invest additional capitalCSExplain types of investmentsAnswers should reference the risk/return relationship of investments, the varying risk in different types of investments, and the benefits of a diversified portfolio. Recommendations should include distribution of investment among many types of investment classes, industries, and market capitalization (size of companies.) Included may be:Interest from cash holdingsDividends Stocks (common, preferred)Stock, growth or incomeMutual funds Bonds (corporate or government)Government securitiesReal EstateCommoditiesOptions, futures, derivativesInsurance policies (whole life)IPO – initial public offeringDollar cost averaging – investing the same amount each month PQExtract relevant information from written materialsEmails must be made a priority for the two office workersEmails from customers must be looked at three times in the day in order to give prompt feedbackEmails from customers must be read and work orders created for the services they needWork orders should be a standard form that is filled out and given to the plumbersAny questions for clarification need to be immediately emailed back to the customer or the customer needs to phonedPerhaps a customized email can be added to the website to make it easier for customers to respond to the email. For example—name, nature of problem, contact information, times available, etc. This will make it easier for the office workers to extract the informationSPFacilitate (lead) group discussions CSFollow chain of command CSFollow established security procedures/policies PQFollow instructions for use of equipment, tools, and machinery PQFollow oral directions CSFollow rules of conduct CSFollow safety precautionsThe manager needs to make certain that all employees are aware of the safety procedures and practices these procedures.New employees need to be trained as part of their orientationAfter an incident, the staff needs to review the incident to see what can be learned for the next time.If employees do not follow these safety precautions or do not take them seriously, the manager should discipline themAs always, the manager must lead by example.Were the students’ recommendations in the interest of safety?Did their suggestions align with modern safety proceduresCSFoster positive working relationshipsFostering positive working relationships has many benefits: our work is more enjoyable, we accept change easier, and we're more innovative and creative.One can foster positive working relationships by:Mutual Respect?– When you respect the people that you work with, you welcome the diversity represented in the group, value their input and ideas, and they value yours. Working together, you can develop solutions based on your collective insight, wisdom and creativity, and time and energy isn’t wasted “watching your back”Mindfulness?– This means taking responsibility for your words and actions. Those who are mindful are open, careful and attend to what they say, and are courteous and professional to co-workers and customers at all times.Make work fun – arrange social events for employees to establish a more personal relationship, not just working relationship (i.e. team sports, get togethers, drinks after work, etc.) to create a bond between workers.Regarding the work itself, positive working relationships are enhanced when these things are considered:Establish team member roles and responsibilitiesDetermine a common goal and strategies to achieve itLay out employee expectationsWeekly meetings to keep the team apprised of progress, and connectedStrategically match workers by skill, experience, education, interests, etc.Open communication – allow employees to approach leader about any issues they are experiencingPQGive verbal directions CSHandle and report emergency situations In answering this question the participant must show a sense of urgency, and display critical thinking. Possible scenarios they may discuss are as follows: What level of supervision/ management should report to the lobby to first asses the nature of the emergencyIdentify whether the emergency can be dealt with internally or if an external company is required due to extensive damage or safety concerns Possible forms of communication if any is required to ensure the further safety of Guests and Associates.CSHandle customer/client complaintsSimilar to handling difficult customers – remain calm. Follow a step by step process. Listen to the complaint. LISTEN and UNDERSTAND. Give the customer your full attention and listen to the whole problem before responding.?Ask questions to clarify what the customer is saying. Put yourself in their shoes - if you had a problem, you would want someone to listen to you. Appearing disinterested, attempting to argue back, getting angry or frustrated, will only exacerbate the situation. Apologize for customer feeling this way. Any number of factors could have contributed to the issue, and you might not be at fault. However, you need to take responsibility for the problem. Sometimes, an apology is all it takes to placate an angry customer.Try to explain why this situation may have occurred, if possible rectify it, or call someone more superior (manager) who can. Customers never want to hear excuses.?However, you are fully entitled to briefly explain why they didn’t receive the standard of service they expected. This should take place after you’ve listened to their complaint and made an apology.Acknowledge the frustration and disappointment that the customer must be experiencing.CSHandle difficult customersThe participant should identify some of the items on the list below when discussing a process for handling customer complaints:ListenTake the customer aside to discuss the complaintRepeat the facts to show that you understand what the customer has statedMaintain eye contact and positive body language (do not cross arms or turn away)Get assistance from a supervisor, if necessaryEstablish a plan that determines the next action stepRemain calm – the calmer you are the calmer the customer will stay.First just listen to the situation and see if the solution is within your capabilities, then try to resolve the situation.If you are unable to handle the situation yourself, you may ask a co-worker or manager for assistanceCSHandle telephone calls in a businesslike mannerCallers should be greeted with a salutation (i.e. good morning, good afternoon, good evening) followed by the company name and employee name.This projects professionalism not only to the customer on the phone, but also the customers in the store who may be around the sales associate.Adding the employee name demonstrates confidence and accountability for the conversation about to take place.Project mannerisms and tone that reflect your pride in your job.Smiles are “heard” over the phoneEnthusiasm to help customers demonstrates your enjoyment in working for the companyKnow about products and services offered by the company and share that information if applicable. Make suggestions of other things you can do to help the customer.Thank the customer for calling; confirm customer satisfaction; allow the customer to disconnect first.CSIdentify company’s brand promiseBrands are names, terms, designs, or symbols that distinguish a product from their competitors and they communicate features, benefits, qualities and value. This company is new and currently has no brand promise or slogan.Creatively and effectively using a company brand image and slogan will help build product recognition, customer loyalty and a positive corporate and product image.The company’s brand promise is delivered through their brand name (the name of the company), their yet-too-be-developed slogan which must direct their entire business philosophy and employee behaviour. Customers will come to have confidence in the product quality, the delivery and the company’s social responsibility based on the brand and associated brand promise.PQIdentify desirable personality traits important to businessStudents may cite the “7 habits of highly effective people” or they may simply discuss desirable traits such as: confidence, flexibility, motivation, enthusiasm, creativity, intelligence, emotional intelligence, etc.Independence: Be proactive – don’t wait for problems to happen Begin with end in mind – envision your long-term customer relationship and work toward it Put first things first – prioritize Interdependence:Think win-win – seek out mutually beneficial solutions in relationshipsSeek first to understand then to be understood – use empathetic listening to compel others to reciprocateSynergize – combine the strengths of people through positive teamworkIdentify factors affecting a business’s profitProfit is the monetary return a business owner receives for taking the risk of investing in the business. Profit equals income less expenses. There are two types of profit: gross – the money left over after the cost of goods is subtracted from sales, and net – the money left over after the operating expenses are subtracted from the gross profit.To increase profit, a business can increase worker efficiency, increase sales or decrease expenses.Factors that affect profit include: the demand for the good/serviceexpenses – supplies, material, labour, administration, advertisingprice point – each type of product must determine what prices to set that will ensure that costs are covered while still making a profit but not so high that potential customers will be driven awaythe economy chance SPIdentify quality-control measuresA business builds a loyal clientele and many people in other cities would be aware of their name and image. Customers will have an idea of what to expect when they go to any location with the same name, and therefore, it is very important that the quality, presentation, product is carefully duplicated.It should be relatively easy to use the same suppliers for all locations. The bigger and more flexible issue will involve consistent presentation. In the case of a restaurant each cook usually develops their own particular “touch” with the food they are preparing, and extensive training or rigid guidelines will have to be in place to ensure consistent quality among locations. This will even involve the presentation and serving of food to the customers.The Head Office should also consider having area supervisors who would travel from location to location to ensure the consistency was being maintained.SPIdentify requirements for international business travel (e.g., passport, visa, proof of citizenship, immunizations, and sponsorship letters) SPIdentify resources needed for project When you start your project you need to consider what resources are required to get it done. It’s always best to ask for the things you need at the beginning, rather than getting stuck halfway through because you haven’t planned it out, and having to ask then for additional resources. Projects can’t start without…People Human resources are required to get the project done. Even if it’s just you. Normally a project team is a group of people and you won’t be working alone. Capital Your project needs money, because it will need to pay for things, even if that is only your salary Material Goods Projects also use up assets. Assets, or goods, vary from project to project but it’s highly likely that your project will need some kind of tangible resource. It’s normally what you use the project budget to buy. Resources of all types are important to get you project off the ground and successfully moving in the right direction. The more effort you put into thinking through the types of project resources you need and requesting them far enough in advance to ensure that they are ready for you when you need them, the easier it will be for you to complete your project on time, on budget and to the required specifications.SPIdentify skills needed to enhance career progressionA student competitor could mention many sensible skills that could enhance career progression. The list below features those skills strongly recommended for today’s workplace:Communication skills (listening, speaking, writing)Creative thinking and innovationFlexibility and adaptabilityLeadership/management skills and visionInterpersonal abilitiesCollaborationCSIdentify sources of career informationGathering as much information as possible when on the job search is very important and searching through the many avenues to find this information is just as important, which can be:people you know/word of mouth - local librariesemployerspost-secondary institutionsvocational officesstate employment officesinternet resourcesnewspaper (print/online) classifiedsministry of laborEach source of information can offer answers to different questions and help to give you a full picture of an interested careerCompanies advertise their jobs in different ways (media, recruitment agencies, word of mouth)PQIdentify sources that provide relevant, valid written materialSources for written material may be obtained internally or externally. Internal sources include company data such as monthly sales records, internal policies, interviews with employees, etc. External sources include customer feedback, trade magazines, the government, etc.Local newspapers will provide construction information and updatesCoupons can be provided in the temporary location, through newspaper, local coupon clipper magazines, flyersIn-store flyers to provide details of construction updatesMobile sign outside main location to provide address of new temporary locationMobile sign outside new location making people aware of its existence, specialsCSIdentify tentative occupational interest SPIdentify the basic torts relating to business enterprises CSIdentify the impact of small business/entrepreneurship on market economies PQIdentify types of currency (paper money, coins, banknotes, government bonds, treasury notes, etc.)Currency is a?system of money?(monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European Euros are examples of currency. These various currencies are stores of value, and are traded between nations in?foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.Identify ways that technology impacts businessThe legal field has expanded due to the impact technology as had on society. Today technology is a term referred to daily in every business. It may be relating to ticket sales in the entertainment business or on-line shoe sales in retail. It may be related to a new phone system being installed or new data entry software. There is no end to the impact technology has on communication, productivity and the overall nature of today’s business culture. With this new powerful innovative tool, come concerns and cautions that create a need for counsel in terms of confidentiality, on-line security, trademark and copyright protection, cross- culture issues, and more. Technology has also created concerns for ethics, but the benefits from profits and savings in productivity outweighs these concerns and commerce demands that technology keep rolling in a fast and aggressive puter software and hardware provide a manager with the means for capturing, storing, and analyzing information regarding the operations of the business.Better technology makes the job of managing easier because it improves the accuracy, timeliness, and usefulness of the information produced.Example: computer scanning of UPC codes when receiving eliminates errors made in identifying part numbers, which is an important factor in managing inventory.Example: linking the sales processing and invoicing system to the inventory management system also improves accuracy and reduces loss.PQIdentify ways that technology impacts business Inspire othersPeople who inspire others: Are authentic – don’t put on airs, are honest, have integrity, show who they really areConnect with other’s dreams – listen, and help them align them with company goalsNotice, name and nurture abilities that others don’t see in themselvesInspire with great, motivating storiesCreate a culture of inspiration and inclusion – commit to excellence and character developmentEmpower others – provide clarity and structure, establish roles, encourage accountabilityKeep their team cohesiveExpect optimal performance – shared accountability, performance depends on clear goals and timely feedbackRecognize the team’s efforts with compliments or even weekly discussions on what they are proud of accomplishingPQInterpret a pay stub SPInterpret and adapt to a business’s culture CSInterpret business policies to customers/clientsEmployees should be well trained on the policies and have many examples of how the policies can be interpreted.After a situation has been handled, it should be used as an example for employees for future reference.Explain the new changesInterpreting business policies typically involves explaining company procedures, often written in bureaucratic language, to customers who are already irritated and upset. By acknowledging their frustration and using plain and ordinary language to describe what's required from the customer to proceed, customer service representatives can diffuse a tense situation, maximize the opportunity to conduct a successful transaction and provide pointers to other information, such as brochures, website links and other phone numbers for help and support.Back up the business policy by describing how it helps streamline business transactions that actually help customers in the long run. Provide details about why changes to previous policies make the current policy more advantageous in terms of long-term gains. Cite any laws, studies conducted, customer feedback obtained or conventional business practices that reinforce the implementation of the business practice.Involve customers in the interpretation of any business policy. Ask for candid feedback about how the rules impact their business. For example, record input with online surveys using free software applications such as Qualtrics, Zoomerang or SurveyMonkey. Publish your findings so that customers can see that you have taken their feedback seriously and intend to act on their suggestions. Propose an implementation date that allows the customer time to adjust to your new policy and enforcement of a current policy. Ensuring customer satisfaction involves validating that new mechanisms meet the needs of existing customers and future customers alike.SPInterpret data mining findings PQInterpret others’ nonverbal cuesNonverbal communication ranges from facial expressions and eye contact to body language, gestures, and signs and may also include use of space. Interpreting others’ nonverbal cues can be thought of as listening with your eyes.Nonverbal cues often tell more about the audience’s true thoughts and feelings than do their words.When nonverbal cues do not match verbal communication, verbal communication is often ignored.Some common interpretations of nonverbal cues are:Crossed arms – closed-off or resistance.Hand under chin – decisions or analysis being made.Back of the neck scratch – has questions or concerns.Avoidance of eye contact – discomfort.It is important to be sensitive to cultural differences and aware of context in interpreting nonverbal cues so as to avoid misinterpretations.SPInterpret statistical findings The purpose of analysing data is to obtain usable, useful information. To do this, it is important to determine WHAT we want analysed so that the correct data is collected. To find meaning in large amounts of data, data is grouped and summarized, and/or statistically analyzed (mean, median, mode, standards of deviation, frequency distributions, t-tests, regression, ANOVA, etc.)Interpretation is the process of attaching meaning to the collected information and determining the conclusions, significance, and implications of the findings. Patterns and relationships within the data are gleaned. The same data can be interpreted in different ways so to garner other interpretations discuss the data with stakeholders and consider the data from various perspectives. Think beyond the data but don’t stray too far. Focus on outlying data or data that seems to be the exception, as surprising, contradictory or puzzling data can lead to useful insights. Limitations must be disclosed with honesty.Students will reiterate the statistics they feel are pertinent in their analysis. PQInterview for a job CSLead change SPLeverage personality types in business situations CSMaintain a safe work environmentParticipants should outline what a safe work environment entails. Factors to consider include:Layout of the location and associated risk factors to both employees and inventoryEmployee breaksLightingImplementing training programs for employees to learn and refresh essential safety procedures and precautions in the warehouseParticipants emphasize the value of a safe work environment with the following benefits:Less employee absenteeism due to injuriesLess damaged inventory Increased productivity and efficiency due to employees’ security and faith in the company’s ability to maintain a safe work environmentIncreased sales and revenue as less damaged goods are created and therefore less are being marked down, as well, higher productivity and efficiency may give the company the opportunity to expand delivery furtherThe company should also:train employees in conflict resolution, crowd controlhave sufficient staff on hand to service customerscontrol placement of inventory; deeply discounted, large or expensive items to be retrieved by store staffuse rope barriers to create pathways to keep traffic moving, channel customers and provide a queuing systemPQMaintain appropriate personal appearance SPMaintain collaborative partnerships with colleaguesInternal human resource policies – must reflect societal norms/expectationsHonesty important – long-term relationships must be valuedIndividuals and companies do not work in isolation – must be a member of the business community locally and nationally/internationally - interdependentSocial responsibility to all stakeholders to work together to establish and maintain common goalsGoals – not just financial; must give back to environment in which firm operatesSPMaintain customer recordsUse computer systems to collect and record all types of customer-related dataElectronic records provide history, purchase trends, service usage, multiple contact points, and other data that analytics programs can use to personalize each customer’s experience with the bank. Related services can be suggested to maximize the return on each client.Accessing customers by email, mobile, social media, (and not from walk-ins) is the norm. CSMaintain data security Establish strong passwords - use a combination of capital and lower-case letters, numbers and symbols and make it 8 to 12 characters long, avoid using:?any personal data or?common words change your password every 90 days, never share a password, and, never write it down. Put up a strong firewallInstall antivirus protectionUpdate your programs regularly - Frequently updating your programs keeps you up-to-date on any recent issues or holes that programmers have fixed.Secure your laptops - absolutely encrypt your laptop. Use encryption software which changes the way information looks on the hard drive so that, without the correct password, it can't be read.Secure your mobile phones - they hold so much data these days that they are like a company computer. Enable remote wiping.Backup regularly (weekly is recommended)Data-leakage prevention software, which is set up at key network touch points to look for specific information coming out of your internal network. It can be configured to look for credit card numbers, pieces of code, or any bits of information relevant to your business that would indicate a breach.Be careful with links carrying viruses arriving by e-mail, IM and surfing the Web.Educate your employees about safe online habits and a proactive defense.PQMaintain financial recordsInventory must be accurately maintained so that the company has stock at all times, and so that it can report accurate financial data.A computer system tracks every inventory itemMinimum reorder points and supplier contact information is kept currentEvery received item is checked for damage, then scanned into inventoryItems are stored in the locations assigned to themThe receiving report is taken to accounting, and combined with the purchase order and invoice for paymentAll items leaving inventory are scanned outA physical count of inventory is taken at least once annually to verify its accuracy. Items missing from inventory could have been damaged or stolen. Obsolete items must be removed from inventory and written off.The value of the inventory account should be approximately its replacement valueCSMaintain inventory of suppliesIt’s important to always have on hand sufficient supplies to run the business. Inventory turnover information (the rate at which the inventory is used) will help in making timely purchasing decisions and prevent having too much or too little inventory on hand. Computer systems can be used to tract inventory usage and/or a periodic inventory count can be used to keep records up-to-date. CSMaintain the confidentiality of othersConfidentiality means not sharing sensitive information that you know with someone else. This means not disseminating the information within the organization, or outside the organization, and it means to protect and secure any information that has been printed (electronic or paper) and is being stored. These acts of professional courtesy are also part of displaying workplace etiquette and depending on the nature of the business could be against company policy. Failing to respect others' privacy can harm your personal and professional relationships, including being disciplined or fired on the job, or having you or your company taken to court for compensation. For the person whose confidentiality was breached, it could cause a myriad of reactions ranging from mild embarrassment to social ostracism. CSMake decisionsStudents may select any of the choices available. Ensure that students explain WHY they have selected the given alternativeMaking a good informed decision is not that different to sitting on a jury – all reasonable doubt has to be removed before you can pass a verdict one way or the other. Thankfully, though, corporate decisions are seldom a matter of life or death!Don’t judge a book by its cover - You may be someone who’s big on first impressions when you meet people but you can’t let the same thought process influence your decision-making. If on first hearing an idea strikes you as a really good one, you may well be correct, but you mustn’t allow that first reaction to influence your ability to objectively weigh the cons as well as all the pros when they are presented.Do your homework - Just because no significant cons are presented it doesn’t mean they don’t exist, so get someone on to digging them up and evaluating them while you still have the time – discovering them after you’ve launched the deal doesn’t do you any favours. Insisting that this homework is conducted becomes doubly important if and when everyone is unanimously in favour of going ahead with the project. Nothing is perfect, so work hard at uncovering whatever hidden warts the thing might have and by removing them you’ll only make it better still.Avoid making decisions in isolation - Every decision has some degree of impact on your ability to adopt other future opportunities in what the experts call ‘the decision stream’. This one may be a ‘too good to miss’ opportunity but how will it affect other projects or priorities and, if now is not the best time to do it, what risks if any are there in putting the thing on hold for an agreed period of time? If you cannot manage this project in addition to another that’s waiting in the wings, which one gets the nod and why?Do everything you can to protect the downside - All wise investors go to great lengths to do this with their stock portfolios and when setting up a new business you should try to employ the same strategies. Give it time - If you have the time to use the ‘orchestrated procrastination’ approach then do so. Without getting into the ‘paralysis by analysis’ mode, doing more rather than less homework on a project is seldom a bad thing. While looking at it more deeply you may find better alternatives or the marketplace may change.Making smart informed decisions is why leaders get paid the big bucks. There is really no science to getting it right every time which is why (unfortunately) decision-making is not a process that can be programmed to come in ‘just in time’ across the board.SPMake oral presentationsIs the student speaking professionally and communicating clearlyAre the indicators flowing into each other smoothlyIs the student speaking directly or are they reading from their notes CSManage commitments in a timely manner SPManage the bid process in purchasing SPMonitor internal records for business informationProper inventory control is necessary to prevent loss.Inventory is an asset of the business that needs to be protected.Internal records provide the history of the business which helps to predict and plan for the future. Information is the foundation of controlThe emails and phone calls should be monitored. The results should be communicated to the employees that are not adhering to the policy and their managers. Employees that are not following the policy should be disciplined. This would entail being warned verbally once, written up at the second offense, suspended without pay at the third and fired at the fourth offense. This process may vary based on how the employees deal with these steps.Employees that adhere to the new policy should be acknowledged.This is a company that makes money by dealing with secure credit card information. All of the internal records (beyond emails and phone calls) should be monitored on a continual basis.SPMotivate team membersMotivating people is a difficult task that is specific to the individual’s driving forces. Nine powerful ways to keep members motivated to do their very best on the job are: Pay your people what they are worth Provide them with a pleasant place to work Offer opportunities for self-development Foster collaboration within the team Encourage happiness Don’t punish failure Set clear goals Don’t micromanage Avoid useless meetingsCSObtain needed information efficientlyStudents should make recommendations about how to collect the needed information in a timely manner. They should have clearly outlined methods for data collection and an understanding of how to do this without spending an unrealistic amount of money.CSOrganize information CSOrient new employeesWhen new employees are hired, it is important they complete an orientation process. This is used to introduce them to the business’s culture, brand and ways of working. It is also an opportunity for the business to communicate its expectations based on accountabilities, customer service, quality, etc. Orientation also involves training new employees on how to do their jobs. The participant may discuss the role of the person assigned to training new employees. Providing new employees with an opportunity to shadow other employees doing the same jobProviding new employees with training on any equipment they are required to operate including POS systems, computer-based systems for entering customer orders and making table reservations, etc. The participant may also provide additional examples of what will be included in new employee orientation at this company Once a candidate is selected, the most basic part of training is employee orientation through which employees get acquainted with company policies and programs, personnel with whom they will interact, and the nature of the job.This probationary period can last between 2-4 weeks.Mentors may be assigned within a relevant department to assist the new employee through this process.Staff in each area are to implement training.A “Train the trainer” program might be needed here to implement a larger scale training program.With respect to orientation and training programs it is important to make new employees feel valued and welcome to familiarize them with the working environment.Orientation commonly includes the following:Tour of the Company Discussion of the company’s history, mission and valuesDescription of what the company doesTraining on use and routine maintenance of equipment such as cash registers and rmation about payroll, benefits and company policies.Determine how training will be delegatedCSOvercome problems and difficulties associated with office politics/turf warsThe participant may demonstrate their ability to overcome problems and difficulties by:Showing an understanding and respect for the roles and responsibilities of various team members within the organizationDemonstrating an awareness of team dynamicsExhibiting strong communication and leadership skillsDemonstrate assertiveness CSParticipate as a team member CSParticipate in a staff meeting CSParticipate in group discussions CSParticipate in problem-solving groups SPPersuade othersIs the student convincing Are they able to back up their decision with facts from the caseConvincing – do presenters believe their own roleConsistent ideasCSPlace orders/reorders CSPrepare a résumé PQPrepare bank account documents (e.g., checks, deposit/withdrawal slips, endorsements, etc.) CSPrepare personal income tax forms (i.e., 1040 EZ form) SPPrepare simple written reports CSProtect against identify theftMeasures must be in place to limit access to card information – passwords, limited access, logins, firewalls, tracking of access, POS – well secured to prevent unauthorized access.Training of workers is most important – an understanding of their role in handling of credit/debit cards is vital.Adherence to all legal requirements with respect to data management.Participant could mention any of the above information as it relates to this case.CSProtect company information and intangiblesCompany information and intangibles includes computer data and intellectual property (company secrets).Firewall Software - Firewalls are used to block and prevent unauthorized access to computer files. Firewalls prevent unwanted visitors from entering a computer system to use files, gain personal information or destroy computer data. A good firewall should be part of a company’s computer system.Allow employees access to information which is job related only – block everything else. Any file that contains a credit card or client number, for instance, can be automatically tagged with restrictions that encrypt it when it's put on a USB drive. Or, if that same information is shared within a company, the applicable rules might prevent those who see it from cutting and pasting any of the names and addresses.Monitor data as it flows in and out of networks--including through USB ports, e-mail, file transfer protocol and Web browsers. Also monitor data leaving a company's network, blocking the movement of sensitive data or encrypting it.Install software that classifies data by modeling their movement and watching for anomalies that might be signs of penetration or insider misbehaviour.Simple and effective internal threat management procedures can help prevent employee information leaks from happening to the bank. This will protect the company’s most confidential and valuable information from being exposed to unauthorized partiesBe aware of where critical corporate data is located and who has access to the dataDevelop an acceptable use policy for all employees that outlines appropriate use of corporate assets, information and intangible assets. This policy should outline company procedures when a violation takes placeConsistently enforce policies and procedures and revise as requiredEnsure there is an internal incident response plan and that the appropriate resources are available in-house to handle information loss or access by unauthorized employees or outsiders.PQProvide legitimate responses to inquiries.Emails need to be responded to in a timely fashion—some of the emails might be about an emergency situationAll emails should be looked at three times a day—this is a priority for the businessPerhaps a new person needs to be hiredA plumber may need to be called for explanations about the content of the email. If the office assistant cannot answer the email accurately, he/she should have access to a plumber to ask for helpResponses to emails must be done accurately and quicklyPQRead and reconcile bank statements PQRecognize personal biases and stereotypesA bias is defined as prejudice in favour or against one thing, person, or group compared to another.A stereotype is defined as a widely held but fixed and oversimplified idea of a person or thing.Everyone views the world and makes decisions based on their lens of personal biases and stereotypes.Awareness of personal biases and stereotypes, and those held by international clients for or against you, can make international business interactions and transactions more comprehensive.CSReinforce service orientation through communication employees must make it clear to customers that they want to help them; the whole experience must be positive. The customer comes first.open communication from customer – employees – management (full circle)customers can be given opportunity to fill out comment cards/on-line surveys, perhaps with chance to win something/discountstrain staff in proper customer service techniques, including greeting customers, asking to assist them, dealing with difficult or contentious issues/people, etc.customer service training, tips and messages to take place on on-going basis in staff meetings, employee newsletters, employee bulletin boardsemployees also be given chance to fill out feedback forms, surveys, suggestionsPQReport noncompliance with business health and safety regulations PQRespect the privacy of othersStudents may mention that there are laws governing information and personal privacy. Privacy?allows us to be ourselves, to think and act without the presence, interference or judgment of?others.?Privacy?is important to everyone, but especially to those who need support with their personal care, finances and recreation choices.To respect the privacy of others, people should:Knock and wait for permission to enterLeave people's mail and email unopened, and diaries, journals, notebooks and so on, unread.Make sure that privacy and modesty is respected during people's dressing, toileting and bathing times.Ensure that people with visitors are left alone to have that time together.Refrain from intruding on people when they are clearly spending time alone by choice.Respect confidences that have been shared with us, unless keeping silent puts someone at risk.CSRespond to customer inquiries when responding to clients, it is important to use effective listening techniques such as:identify the purpose of the messagegive feedback to show understandingask appropriate questions to gather more informationlisten for verbal cuestry to satisfy the customers/clients’ need as quickly as possibleCSSelect and use appropriate graphic aids CSSelect and utilize appropriate formats for professional writing Typical formats include emails, letters, forms, reports and proposalsIn addition to email, and mail, written communications also include social mediaAre written for a limited number of purposes, usually to inform (to share information) and to persuade (to build goodwill with superiors, colleagues, and customers)State a main idea and develop it with more specific verbal and/or graphic details. Memos are brief, limited in scope, and to the pointAre written in a polite, respectful, formal toneUse conventional paragraphs AND bulleted lists, headings/subheadings to make information easy to find and to readUse formal grammar, punctuation, spelling, and check that the content conveys the exact meaning SPSelect vendors Set your criteria. ...Define your process. ...Call for bids. ...Evaluate the bid submissions. ...Monitor the supplier performance.Vendors/suppliers must provide:ReliabilityProvide qualityValue for money (strike between cost, reliability, quality and service)Strong service and clear communicationFinancial security (check their credit to ensure they won’t go out of business)A partnership approach - You want your suppliers to acknowledge how important your business is to them, so they make every effort to provide the best service possible. And you're more likely to create this response by showing your supplier how important they are to your business.You can find suppliers through a variety of channels:Recommendations - ask friends and business acquaintancesDirectoriesTrade associationsBusiness advisorsExhibitionsTrade pressMake sure you know what you need. Don't be tempted by sales pitches that don't match your requirements. Understand the difference to your business between a strategic supplier, who provides goods or services that are essential to your business - such as high-value raw materials - and non-strategic suppliers who provide low-value supplies such as office stationery. You will need to spend much more time selecting and managing the former group than the latter.Spend time on researchAsk aroundCredit check potential suppliersPrice isn't everything - reliability and speed, for exampleAgree on service levels before you startDon't buy from too many suppliers - it will be easier for you to manage - and probably more cost-effective - if you limit the number of sources you buy from. This is particularly the case with low value-added suppliers....but don't have just a single supplier – so you have an alternative supply source ready to help in difficult timesSPSell ideas to others CSSet financial goalsHaving multiple goals is common, including a mix of short- and long-term goals. For example, a long-term goal would be to "retire at age 65 with a personal net worth of $1,000,000," while a short-term goal would be to "save up for a new computer in the next month." On a short-term basis, families will set a monthly budget to track spending and saving. The actual amounts spent are evaluated monthly and refined. Setting financial goals helps to direct financial planning. Goal setting is done with an objective to meet specific financial requirements. For long-term goals, families will start with the end by determining how much needs to be saved. Using a conservative rate of return and the help of a financial planner or calculator, the total is divided into monthly amounts so that saving can be done on an ongoing, regular basis.CSSet personal goals PQShow empathy for othersEmpathy is defined as the ability to understand and share the feelings of another. Thus, an empathetic student will try to directly relate to the customer’s feelings. Empathetic comments might include:I understand how important this is to youAcknowledge the frustration that the customer must be feeling.Explain that you too would be frustrated and upset if this happened to you. It is important that businesses anticipate possible problems and explain to the customer the steps that they can take to resolve the issue.Present in a positive way all of the things that the store will do to resolve this issue.SPSolicit feedback The only way to really find out whether your customers are happy, and what they might be unhappy about, is to solicit feedback from them. And the more channels through which this feedback can be taken, the better – as each one has different limitations in terms of the honesty and detail that will be expressed.Face-to-face feedback - There are many ways to get feedback from customers; some can start in the restaurant. Once the customers are present the staff then become the face of the business as they are the ones that the customer will remember as they leave their feedback. Social media - Social media is an invaluable tool for getting feedback. If you inform your customers of a restaurant’s pages on various social media sites, they can easily get in touch and leave feedback or reviews. Many diners will be more likely to leave reviews on social media given the centrality of these sites to their lives and, of course, their accessibility. Social media is especially attractive for customers because they know that they will get a response. Feedback forms - The company website is a great point of contact for customers. Having a feedback box on the website is a convenient place for customers to find a direct way to contact the restaurant. Having the feedback box on the website is also useful to encourage one time visitors to the restaurant and returning visitors to leave feedback. Through this, the business can get views on customers’ experiences at the establishment and – equally as important – the owners can get feedback on the workings and usability of the website too. Tablet feedback systems - Mobile EPOS systems are becoming more common in restaurants and can be useful for gathering feedback. When there is a tabletop ordering system it can give an option to complete a feedback survey at the point of payment. This creates a no-fuss option for the customer to give feedback, as they do not have to complete any extra steps to give their opinion. These methods of feedback can be made fun for the customer as a type of mini-game. while the use of incentives to encourage them to complete the surveys will reward them for their effort. Another way that technology is being used to encourage customers to give their feedback is the use of specially designed kiosks located near the exit of the establishment. These again can be made into a fun mini-game to encourage customers to leave their feedback as they leave. Feedback from online customers - For those businesses that offer online ordering, there is another great opportunity to ask for customers’ thoughts on the service they received. Once the transaction has been completed and the customer has either picked up or had their item delivered, a follow-up email with links to a survey asking the customer how they rated the experience is a useful way, particularly for takeaway restaurants as they don’t have another point of contact with the customer if all exchanges with the customer are either by phone or online.Though it’s important not to bombard your clients with too many requests for comments and feedback, it is clearly essential for any successful business to know what their customers are happy or unhappy about. Setting up a range of different feedback channels will ensure that a wide and detailed set of customer feedback is collected. And this task will never be completed – businesses should continue to gather – and act on – feedback from consumers for as long as they wish to remain successful.CSStore information for future use PQTake responsibility for decisions and actionsTake ownership for the customer experience, and avoid placing blame even if they were not directly responsible for the eventAssure the customer that they are committed to finding a solution that will ensure they are satisfiedApologize that the customer’s expectations were not metSPTranslate research findings into actionable business recommendations Student answers will depend on how they interpreted the statistics in the case. This author would buy space in a strip mall that already attracts both Millennials and GenX/Boomers and cater products, prices, service, image, and advertising to these two groups, and, keep an eye on GenZ when they enter their mid-twenties.PQTreat others fairly at work CSUse an integrated business software application package PQUse appropriate assertivenessBeing assertive means being able to stand up for your own or other people’s rights in a calm and positive way, without being either aggressive, or passively accepting ‘wrong’. Assertive individuals are able to get their point across without upsetting others, or becoming upset themselves.PQUse basic operating systems PQUse conflict resolution skillsThe participant may demonstrate conflict resolution skills by:Clearly communicating the company’s policies and proceduresEffectively listening to the customer/employee’s concerns and questionsResponding appropriately to the customer/employee’s concerns and questionsActively seeking a solution that both parties are satisfied withIdentifying when an approach or proposed solution is not working and suggest other possibilities to solve the problemIt is important to listen carefully to all sides of a situation.Conflict can be constructive if handled properly. A customer could have just moved their business without telling you and giving you an opportunity to fix the situation.Where appropriate, work collaboratively with the staff to brainstorm possible solutions to the problem. This way the staff will buy in to the solution. As well, they may have some clever and creative ideas to solve it.Conflict can be avoided if steps are taken early in a discussion to diffuse anger and facilitate communication, and it can be resolved by applying a series of thoughtfully applied steps. Here are some examples of conflict resolution techniques:Stay calm. The thing that leads to conflict is escalation. What starts people escalating is their anger. Most of us stop listening to understand as we get angry. Instead, we start listening in order to argue back.?Listen to understand. The only way to settle a dispute or solve any kind of a problem is to listen carefully to what the other person is saying.Accentuate the positive. It is important to find some commonalities, or create them, between you and the person on the other end.?State your case tactfully. The key here is to help people understand your perspective on things without making them defensive. To the extent you can disarm them, they will be more able to hear what you are really saying. Attack the problem not the person. Your points will be heard more clearly if you can depersonalize your comments and point only at the issue.Focus on the Future, Not the Past. Rather than focusing on what went wrong or who should have done what, the secret to dispute resolution is to treat it like problem solving and focus on what can be done to resolve the problem. Once that is done, companies can look to the past tense to analyze what went wrong and how to improve quality control and efficiency.SPUse consensus-building skills SPUse data visualization techniques (e.g., infographics, linked charts, etc.) SPUse networking techniques to identify employment opportunities SPUse social media to solicit new ideas and solutions SPUse time-management skills Utilize job-search strategiesWhen conducting a job search, the initial step is to have a clear definition of what type of employment you are looking for. For example, if one is looking for an accounting position, what kind of accounting do they want to do? A person may wish to pursue a position in audit / tax or perhaps personal accounting. The search itself may follow after the search has been defined. Utilizing contacts is one means of a search; a person may develop contacts through attendance of networking events. These events can allow a person to develop relationships with others in the field and obtain specific advice. Accurately selling oneself is essential. When it comes to online profiles i.e. LinkedIn, it is important that credentials and work experience information are up to date. Doing so ensures that you attract the desired potential employersPQUtilize job-search strategies CSUtilize note-taking strategies SPUtilize quality control methods at workParticipant’s answers may vary however responses should relate to the previous performance indicator regarding the crucial elements of a quality culture.SPUtilize resources that can contribute to professional development (e.g., trade journals/ periodicals, professional/trade associations, classes/seminars, trade shows and mentors).Trade journals, magazines, continuing education seminars, courses, online learning, job shadowingA successful organization can generally trace its success to motivated employees. Discover what your employees want and create a way to give it to them or encourage them to earn it. When setting goals with each employee, encourage and include professional development goalsCSValidate credit historyCustomer has never been past 10 days past due on any debtsConsistently paying a Visa and MasterCard bill, therefore building a credit historyWhat is Identity TheftIdentity Theft is a crime in which an impostor obtains key pieces of personal identifying information (PII) such as Social Insurance Numbers, credit card numbers, date of birth and driver's license numbers and uses them for their own personal gain (e.g. obtain credit card and bank accounts, redirect mail, establish cellular phone service, rent vehicles, equipment, or accommodation or secure employment). This is called ID Theft. It can start with lost or stolen wallets, pilfered mail, a data breach, computer virus, phishing, a scam, or paper documents thrown out by you or a business (dumpster diving). This crime varies widely, and can include check fraud, credit card fraud, financial identity theft, criminal identity theft, governmental identity theft, and identity fraudCSWrite a follow-up letter after job interviews CSWrite a letter of application CSWrite business letters SPWrite executive summaries CSWrite informational messagesStudent is to explain what an informational message is and to provide an example.For an effective informational message the message is presented clearly and concisely so that the listener or reader can understand it easily.Basic considerations when writing the message might include:Know your audienceKnow your purposeKnow your subjectCSWrite inquiries SPWrite persuasive messagesPresenters may come up with a specific message/slogan that they will use to persuadeMay speak about the importance of including persuasive messages in a presentationCSWrite professional e-mailsApply knowledge of printed and electronic business communication—proper spelling and grammar, being concise, proper netiquetteDemonstrate knowledge of the conventions of communication e.g. use of a subject, avoiding use of abbreviations, acronyms, and jargon, use of proper salutations (Mr. Ms. etc.) Demonstrate knowledge of the polite and human element to cyberspace communication because of the absence of opportunity to express emotionsDemonstrate knowledge of the fact that you should not say anything to someone on the net that you would not say to them face to faceUse of template answers in response to frequently asked questionsDo not write in CAPITALSDo not forget attachments; attach only when necessary ................
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