chap 1 and 2: banking and finance
Terms in this set (42)
someone who organizes, manages, and assumes the ownership risks of a new business
Dictionary of Occupational Titles (DOT),
Occupational Outlook Handbook (OOH),
Monthly Labor Review, O*NET
help with career outlook info
an evaluation of the positive and negative attributes of a given type of work, can help you identify types of work that would be a good fit for you
the amount of monthly or annual pay that you will earn for your labor.
company-provided supplements to salary, such as sick pay, vacation time, profit-sharing plans, and health insurance.
the ability to advance to positions of greater responsibility and higher pay.
Opportunity for promotion
any costs of working paid by the employee that are not reimbursed by the employer.
(ex:costs of parking and transportation, such as gasoline or bus fare).these can make a job less attractive.
the daily activities of the job and the environment in which they must be performed.
(ex:working indoors versus outdoors, working alone versus working on a team, and having a high or low degree of stress.)
Some of these can make a job less attractive to some workers.
ways to own a business
-Continue a family business, -Purchase an existing business or franchise, -Start a new business from scratch
Advantages of Owning Your Own Business
-Make the decisions, -Be your own boss, -Feel in control of your own future, -Keep the profits
Disadvantages of Owning Your Own Business
-Large investment of planning and money, -High risk of failure, -Statistics show that most new small businesses do not succeed -Two most common reasons for failure: Lack of financing & Lack of skills
someone who actively seeks new knowledge, skills, and experiences that will add to professional and personal growth throughout life.
advancing to a higher level of skill to increase your usefulness to an employer.
learning new and different skills so that an employee can retain the same level of employability.
specialized, intensive programs (taken after obtaining the first college degree) that prepare students for higher-level work responsibilities with more challenges and higher pay.
lists your strong and weak points along with plans for improvement as you prepare for a career.
offer services related to careers and employment.(ex: Advice and counseling, personal testing, Notification of job openings, assistance with applying and interviewing)
the economy of one nation affects the economy of another
A world economy
informal groups of people with common interests who interact for mutual assistance.
Why People Work
Needs(food, shelter, water) wants( big tv or house), and goals(help ppl),- sense of purpose and identity
sense of who you are and how you fit in
the ideals in life that are important to you.
the way people choose to live their lives, based on the values they have chosen.
a natural physical or mental ability that allows you to do certain tasks well.
the things you like to do
is made up of the many individual qualities that make you unique.
(ex: intelligence, creativity, sense of humor, general attitude)
Steps in Career Planning
-Self-analysis,-Research, -Plan of action, -Re-evaluation
a desired end toward which efforts are directed. provide a sense of direction and purpose in life.
expect to reach in a few days or weeks
accomplish in the next few months or years
achieve in five to ten years or longer.
the knowledge and skills acquired from working in a career field. (Lack of it may mean a lower salary)
Sources of Job Opportunity Information
Word of mouth, placement services, books, employment agencies, Newspaper, Internet
a member of your network
spending time with a worker in the type of job that interests you.
a program where students attend classes part of the day and then go to a job that provides supervised field experience.
help job seekers find a job for which they are qualified. help employers locate the best applicants for job openings.
a type of employment agency that seeks out highly qualified people to fill important positions for an employer
"temp agency," provides part- or full-time temporary job placement.
newspapers, yellow pages, Private Job Listings
Help wanted ads, Unsolicited letter of application, Job opening announcements
a record of the jobs you have held and how long you stayed with each employer
Finding the Right Job
-Get organized, -Make a plan, -Follow up, -Don't give up.