38 terms

DECA Business Management and Administration Cluster - Performance Indicators (LAMINATED TRI-FOLD)


Terms in this set (...)

COMMUNICATION SKILLS: Write analytical reports (i.e., reports that examine a problem/issue and recommend an action).
An analytical report is a detailed report that requires a person to do thorough research on the subject of the report and to clearly interpret the report.
COMMUNICATION SKILLS: Write research reports.
A research report is a document prepared by an analyst or strategist. Research reports generally have "actionable" recommendations.
ECONOMICS: Describe the nature of business customs and practices in countries other than the USA.
Culture refers to customs, beliefs, and values of the people of a country or group. Other items that can be included are language, religion, attitudes toward work, authority and family, practices regarding etiquette, gestures, manners and traditions. In large countries like India or Russia, you can see different cultures within their borders.

Communication is a primary area where differences can be seen among countries. Some, like the US, can be very direct while in Japan nonverbal communication and indirect suggestions are often used to give instruction. World usage and terminology can vary across the world, even though English is used as a common language. For instance, in the US a "boot" is a type of shoe while in the United Kingdom a "boot" refers to the trunk of a car.
EMOTIONAL INTELLIGENCE: Take responsibility for decisions and actions.
Taking responsibility for decisions and actions means acknowledging and accepting choices and the consequences for each. Taking responsibility shows others that an employee keeps your promises and can meet commitments.
EMOTIONAL INTELLIGENCE: Manage commitments in a timely manner.
Effective time management can be accomplished by delegating tasks, prioritizing the tasks, setting goals, meeting deadlines and staying organized. Employees should also determine his/her most productive time during the day, learn to say "no" if possible and reduce technology that results in decreased productivity.
INFORMATION MANAGEMENT: Utilize project-management software.
Project management software is used for project planning, scheduling, budgeting and documentation. Project management software is also used for collaboration and communication between project participants.
KNOWLEDGE MANAGEMENT: Explain the nature of knowledge management.
Knowledge management is the strategy designed to identify, document and share an organization's intellectual assets to benefit performance.
KNOWLEDGE MANAGEMENT: Discuss the role of ethics in knowledge management.
Ethics is inherently important in knowledge management because the business is asking an employee to trust what is being shared. if a researcher or colleague approaches these actions with unethical behavior, the business can lose and/or distort important data relevant to enhancing productivity of the organization.
KNOWLEDGE MANAGEMENT: Explain the use of technology in knowledge management.
Technology has allowed e-learning to develop that can be an effective tool within a business. Additionally, knowledge management is gathered using new technologies like intranets and extranets or web conferencing so that it can be stored in data warehoused. All of this would not be possible without advances we continue to see in technology.
KNOWLEDGE MANAGEMENT: Explain legal considerations for knowledge management.
Securing information is the broad issue in legal issues facing knowledge management. As companies gather sensitive information about consumer and/or clients, they also face the legal responsibility to secure that data. As information is shared within an organization, legal issues that an be faced include conflicts of interest, insider trading, and plagiarism.
KNOWLEDGE MANAGEMENT: Identify techniques that can be used to capture and transfer knowledge in an organization.
Knowledge is gathered through intranets. extranets, groupware, web conferencing and document management systems. Once gathered, knowledge is then stored in data warehouses. This information can then be shared through education, training programs, lessons learned databases, automated knowledge systems, expert networks and communities of practice.
OPERATIONS: Discuss legal considerations in operations.
Legal actions that can take place as a result of operations include lawsuits from employees are hurt on the job, lawsuits, from consumers if products are found harmful, and engagements with labor unions.
OPERATIONS: Organize and prioritize work.
An employee will arrange tasks logically in a structure that works for his/her productivity. Then, he/she should evaluate the items that need to be accomplished and rank them in order of importance or urgency.
OPERATIONS: Coordinate work with that of team members.
A team leader often takes a role in ensuring that production is shared among team members. Team members often have complementary skills so in the combination of their strengths contribute to a successful outcome.
OPERATIONS: Describe types of purchase orders.
A standard purchase order is for a one-time purchase that describes the quantity, price and products ordered, terms of payment and delivery.

A blanket purchase order is a long-term order by a buyer to a seller for supplying specific good(s) or services(s), for a fixed period or in a fixed quantity, as agreed on prices or pricing method.

An electronic purchase order is the same as standard purchase order that is transmitted electronically over the Internet.
OPERATIONS: Discuss types of inventory.
Just-in-time (JIT) inventory coordinates materials so that they arrive just before they are needed for production.

Quick Response Delivery (QSD) is the same type of inventory as JIT but is applied in a retail setting.

A perpetual inventory system constantly checks what is in stock. Any type of transaction is racked in this system so that reordering is done in time to avoid lost revenue.
OPERATIONS: Maintain vendor/supplier relationships.
to maintain an effective relationship with a supplier, a buyer will have records about previous interactions including information about delivery and customer service. A supplier should be engaged in continuous improvement to keep standards high for their customer.
OPERATIONS: Negotiate terms with vendors in business.
Terms commonly negotiated with vendors include prices, dating terms, delivery terms, and discounts. A buyer can receive discounts for paying an invoice arly (cash discounts) or ordering a large quantity (quantity discounts).
PROFESSIONAL DEVELOPMENT: Follow rules of conduct.
To demonstrate this competency, an employee will follow the guidelines provided by their business to ensure their actions reflect the values and ethics of that organization. These guidelines are usually provided to an employee during initial training/orientation.
PROFESSIONAL DEVELOPMENT: Follow chain of command.
To demonstrate this competency, an employee will understand how authority is delegated within the organization. In this model of management, direction is given from top management and followed in descending order. An employee should understand who is his/her direct superior and thus who he/she reports to.
PROFESSIONAL DEVELOPMENT: Determine the nature of organizational goals.
Organizational goals provide an overview of a business' mission and/or purpose as determined at the executive level. Often this is a long term view of how the busiess will operate and make decisions for overall profitability.
PROFESSIONAL DEVELOPMENT: Ascertain employee's role in meeting organizational goals.
An employee should be familiar with his/her responsibilities to meet the overall mission of the business. To determine these actions, a supervisor will provide this information to the employee at initial training and subsequent reviews.
PROJECT MANAGEMENT: Initiate project.
An employee will begin projects as determined by management.
PROJECT MANAGEMENT: Prepare work breakdown structure (WBS)
An employee will determine each task of the project, provide information about who will perform each task, what resources will be allocated to each task and provide a timeline for the tasks in order to complete the project.
PROJECT MANAGEMENT: Execute and control projects.
Using a prepared work breakdown structure (WBS), an employee will use data to monitor the progress of a project. performance will be evaluated against the information provided int eh WBS to determine if sufficient progress if being made and if correct action needs to be taken.
PROJECT MANAGEMENT: Manage project team.
Using a prepared work breakdown structure (WBS), an employee will sue data to monitor the progress of a project. A leader will ensure that each member of the team is contributing to the success of the project by completing his/her responsibilities.
When each task identified in the work breakdown structure (WBS)has been completed, the project is finished. At this time the project will be evaluated to determine efficiency and performance.
QUALITY MANAGEMENT: Explain the nature of quality management.
Quality management is an overall approach to long-term success that views continuous improvement, in all aspects of an organization, as a process and not as a short-term goal. Quality management aims to transform an organization through changes in the attitudes, practices, structures, and systems.
QUALITY MANAGEMENT: Describe the nature of quality management frameworks (ex. Six Sigma, ITIL, SMMI)
A quality management framework is the act of overseeing all activities and tasks needed to maintain a desired level of excellence.

One of these models is the Six Sigma strategy. This involves creating groups of people within the business or organization who have expert status in various methods, and then each project is carried out according to a set of steps in an effort to reach specific financial milestones. The six sigma process is defined as one in which 99.99966% of products created are expected to be statistically free from defects.

The Information Technology Infrastructure Library (ITIL) is a comprehensive set of documents, which defines best practices and accepted techniques in the Information Technology community.

Lastly. the Capability Maturity Model Integration (CMMI) is a process improvement technique for evaluating how efficiently a company is able to deliver technology products to its customers.
QUALITY MANAGEMENT: Discuss the need for continuous improvement of the quality process..
Continuous improvement provides an opportunity for a business to consistently assess its performance and understand how it can adapt operational practices to increase profitability and productivity.
RISK MANAGEMENT: Explain the role of ethics in risk management.
Risk management monitors the opportunity for loss in a business. If the fundamental principles of human behavior are not followed in this area, loss will occur. If an employee withholds information, makes mistakes or is dishonest if can place the business at risk for loss.
RISK MANAGEMENT: Describe the use of technology in risk management.
Risk management, as a business operation unit, began wit protecting against natural risk through insurance. Today risk management includes protection against technology-driven risks such as Cybercrime which includes malware which can risk loss not only to the company's infrastructure but to its customers as well. "Hacking" is also a technology related risk that has has recent victims when computer systems are used to gain confidential information for criminal purposes.
RISK MANAGEMENT: Discuss the legal considerations affecting risk management.
Legal issues that should be considered as part of risk management includes understanding regulations that govern that industry. if a business is not in compliance ti runs the risk of a lawsuit, including product recalls. understanding the nature of human risk is important from a legal perspective, as embezzlement, fraud and theft can also affect a business' operations.
STRATEGIC MANAGEMENT: Discuss the nature of managerial planning.
Managerial planning is the process used to determine the vision of a business and then translating that into organizational goals and an operational plan for achieving these goals. When conducting these activities, management is challenged to determine what must be done at each step to move forward. This process also encourages flexibility when needed to respond needs to the market.
STRATEGIC MANAGEMENT: Explain managerial considerations in organizing.
management's responsibility in the organization is to provide a detailed plan to express what needs to be accomplished, who will do these tasks, what the chain of command is for the organization and therefore how decisions will be made. management will be successful if they use the resources available in the best way possible in order to achieve organizational goals.
STRATEGIC MANAGEMENT: Describe the managerial considerations in staffing.
management's responsibility is to consider to strengths and weaknesses of his/her employees. Employees should be placed in a position to make both the employee and the organization successful. In doing so, an employee will be given responsibilities that will make him/hr productive to contribute to the goals set by management.
STRATEGIC MANAGEMENT: Discuss managerial considerations in directing.
Management's responsibility is to create a work environment that reflects the mission of the organization. This will include providing effective motivation for employees, supervising operations, and evaluating performance in a respectful and efficient manner so that goals can be achieved.
STRATEGIC MANAGEMENT: Describe the nature of managerial control (control process, types of control, what is controlled).
Managerial control is the process of achieving defined goals within an established timetable. management control is understood to have three components: setting standards, measuring actual performance and taking corrective action.

There are two types of control: PROCESS AND ORGANIZATIONAL. Process Control includes activities involved in ensuring a process is predictable, stable, and consistently operating at the target level of performance with only normal variation. Organizational Control is the process of establishing and maintaining authority over and throughout a business.