EPA REVISION Flashcards
(126 cards)
1
Q
What is 180° Feedback?
A
Performance appraisal data collected from peers or colleagues and his or her manager.
2
Q
What is 360° Feedback?
A
Performance appraisal data collected from peers, subordinates, supervisors, and sometimes from internal and external customers.
3
Q
What are the 5 Stages of Project Management?
A
- Initiation
- Planning
- Execution
- Monitoring & Control
- Closure
4
Q
What are the 7 Ps of Marketing?
A
- Product
- Price
- Place
- Promotion
- People
- Process
- Physical environment
5
Q
What are the 7 Principles of Data Protection?
A
- Lawfulness, fairness and transparency
- Purpose limitation
- Data Minimisation
- Accuracy
- Storage limitation
- Integrity and Confidentiality (security)
- Accountability
6
Q
Define Accrual.
A
The accumulation or increase of something over time, such as payments or benefits.
7
Q
What is Agile Project Management?
A
An approach based on delivering requirements repetitively and incrementally throughout the project life cycle.
8
Q
What does AMP stand for?
A
Association for Project Management.
9
Q
What is BACS?
A
BACS Payment Schemes Limited, responsible for clearing and settlement of UK automated payment methods.
10
Q
What is a Balance Sheet?
A
A summary of the financial balances of an individual or organisation.
11
Q
Define Business Innovation.
A
Changes in processes or the creation of more effective ideas, processes or products.
12
Q
What are Business Markets?
A
The selling of products and services to other businesses.
13
Q
What is Business Planning?
A
The process of determining an organisation’s objectives, strategies, and projected actions.
14
Q
What does BYOD stand for?
A
Bring Your Own Device.
15
Q
What is a Capital Budget?
A
A budget allocating money for the acquisition or maintenance of fixed assets.
16
Q
Define Cash Flow.
A
The difference in the amount of cash available at the beginning and end of a period.
17
Q
What is Change Management?
A
Techniques, tools, and processes needed to manage the people side of any business change.
18
Q
What does CIPD stand for?
A
Chartered Institute of Personnel and Development.
19
Q
What does CMA stand for?
A
Certified Management Accountant.
20
Q
What is a Code of Practice?
A
A set of rules that describes how people should behave in their profession.
21
Q
What are the 5 basic Communication Styles?
A
- Passive aggressive
- Assertive
- Aggressive
- Submissive
- Manipulative
22
Q
What is the role of the Competition and Markets Authority?
A
Responsible for promoting and strengthening business competition.
23
Q
Define Compliance in business.
A
Conforming to a rule such as a specification, policy, standard or law.
24
Q
What is Consolidated Planning?
A
The ability to consolidate and document the fundamental components of a change initiative.
25
What is the Consumer Protection Act 1987?
Designed to protect consumers and give them rights when buying goods and services.
26
What is the purpose of Contingency Planning?
To respond effectively to a possible future event or circumstance.
27
What is Corporate Culture?
The way in which the attitudes, beliefs, values, and norms of the firm are shared by all employees.
28
Define Corporate Social Responsibility (CSR).
Integrating social and environmental goals into business operations.
29
What is Corporation Tax?
Tax levied on business profits and other income.
30
What is Cost-Benefit Analysis?
Analysing decisions by subtracting benefits from costs.
31
What does COSHH stand for?
Control of Substances Hazardous to Health.
32
What is CPD?
Continuous Professional Development.
33
Define Crowdfunding.
Raising finance by asking a large number of people for a small amount of money each.
34
What is Customer Relationship Management (CRM)?
A strategy for managing an organisation’s relationships and interactions with customers.
35
What is Crisis Management?
The process by which an organisation deals with a sudden emergency.
36
What does Data Management involve?
Obtaining, validating, storing, protecting, and processing data.
37
What is Debt Factoring?
A company takes responsibility for collecting money relating to another business’ invoices.
38
What is the Department for Environment, Food and Rural Affairs (Defra)?
The government department responsible for environmental protection and food production.
39
Define Direct Discrimination.
Being treated differently and worse due to protected characteristics.
40
What does DSE stand for?
Display Screen Equipment.
41
What is the Eco Management Audit Scheme?
A voluntary management tool for evaluating and improving environmental performance.
42
What is Employer’s Liability Insurance?
Insurance that protects against compensation claims from employees.
43
What is the Employment Rights Act 1996?
An Act to consolidate enactments relating to employment rights.
44
What is an Employment Tribunal?
A public body that hears disputes between employers and employees.
45
What does the Equality Act 2010 do?
Protects people from discrimination in the workplace and society.
46
Define Ethical Approach in business.
Virtue ethics teaches that an action is right if it is what a virtuous person would do.
47
What is a Fishbone Diagram?
A visualization tool for identifying potential causes of a problem.
48
What is Frederick Taylor’s Scientific Management Theory?
Aims to improve economic efficiency, especially productivity.
49
What does FCA stand for?
Financial Conduct Authority.
50
What is the Freedom of Information Act 2000?
Gives the public access to information held by public authorities.
51
What is a GANTT Chart?
A chart showing activities planned to take place over certain periods.
52
What does GDPR stand for?
General Data Protection Regulation.
53
Define Governance.
Management, policies, processes, and guidance for an area of responsibility.
54
What is Gross Profit?
The difference between revenue and the cost of products or services before other deductions.
55
What does the Health & Safety at Work Act 1974 require?
Employers must protect the health, safety, and welfare of all employees.
56
What is a Hierarchical Structure?
An organisational structure showing a single group or person at the top with levels below.
57
What does HMRC stand for?
Her Majesty’s Revenue and Customs.
58
What does HRM stand for?
Human Resource Management.
59
What does HSE stand for?
Health & Safety Executive.
60
What does ICO stand for?
Information Commissioner’s Office.
61
Define Imperfect Competition.
A market situation with many sellers but dissimilar goods.
62
What is the Influence Impact Grid?
A tool to understand stakeholder influence on a project.
63
What are Interpersonal Skills?
Skills including listening, questioning, and understanding body language.
64
What is Investors in People?
A range of standards for organisations to follow.
65
What does ISO stand for?
International Organisation for Standardisation.
66
What is Kaizen?
A Japanese philosophy of continuous development involving all employees.
67
What is a Key Risk Indicator (KRI)?
A management measure to assess risk levels.
68
What is the Kubler-Ross Management Model?
A model of stages of emotions experienced in change.
69
What are the 9 Leadership Styles?
* Transformational
* Transactional
* Servant
* Autocratic
* Laissez-faire
* Democratic
* Bureaucratic
* Charismatic
* Situational
70
Define Learning Style.
An individual’s preferred method of gaining knowledge.
71
What is Legislation?
The act or process of making or enacting laws.
72
What is a Limited Liability Company (LLC)?
Protects stakeholders personally against business actions.
73
What is the Macro Environment?
Social, political, economic, etc. conditions affecting an industry.
74
Define Market Forces.
Supply versus demand and the effect on price.
75
What is the Micro Environment?
Conditions relating to a specific organisation.
76
What is a Mission Statement?
A list of values, purpose, goals, and objectives of an organisation.
77
What is Monopsony Interaction?
Occurs when a single firm holds significant market power.
78
What is the National Living Wage?
Minimum wage for workers aged 25 and over in the UK.
79
Define Net Profit.
The difference between revenue and costs after deductions.
80
What is Organisational Culture?
A set of values and beliefs that demonstrate how people behave.
81
What does Outsourcing mean?
Employing another organisation to do some work instead of using own employees.
82
What is a Partner Organisation?
An organisation where individuals pool resources and share profits and losses.
83
What does PAT stand for?
Portable Appliance Testing.
84
What does PAYE stand for?
Pay As You Earn.
85
What is PERT?
Programme Evaluation and Review Technique.
86
What does PECR stand for?
Privacy and Electronic Communications Regulations.
87
What is PEST Analysis?
Analysis of external macro environment factors affecting businesses.
88
What does PESTLE Analysis include?
* Political
* Economic
* Social
* Technological
* Legal
* Environmental
89
What is Phased Project Management?
The application of processes to achieve project objectives.
90
What does PMP stand for?
Project Management Professional.
91
What are Policies and Procedures?
Documents explaining how organisations deal with issues.
92
What is a Positive Action Recruitment Strategy?
Actions to overcome disadvantages in employment opportunities.
93
What does PMP stand for?
Project Management Professional
94
What is the purpose of Policies and Procedures in an organization?
To explain how organizations will deal with issues and show fair treatment towards employees
95
What is a Positive Action Recruitment Strategy?
A series of lawful actions to overcome disadvantages in employment opportunities for people with protected characteristics
96
What does PPE stand for?
Personal Protective Equipment
97
What is Prince2 Practitioner?
A method for effective project management that is process driven and widely used in the private sector
98
What is the definition of Process Management?
The use and application of processes, knowledge, skills, and experience to achieve objectives
99
What does Procurement refer to?
The process of purchasing goods or services
100
What does a Profit and Loss Account show?
A company's revenue and expenses over a specific period, indicating profit or loss
101
What is a Project Business Case?
The justification for undertaking a project, evaluating benefits, costs, and risks of alternatives
102
What are the four phases of the Project Life Cycle?
* Initiation
* Planning
* Execution
* Evaluation
103
What does the Project Management Triangle represent?
Constraints where changing one side affects the others
104
What is a Project Resource Plan?
A plan identifying all resources needed to complete a project
105
What is the role of a Project Sponsor?
Accountable for ensuring effective governance and delivery of project objectives
106
What does Quantitative Financial Forecasting include?
Looking ahead at sales volumes, profit, expenses, etc.
107
What does RCA stand for?
Root Cause Analysis
108
What does REACH stand for?
Registration, evaluation, authorisation and restriction of chemicals
109
What is Reflective Practice?
A way of studying one's own experiences for improvement
110
What is Resource Management?
Efficient development and use of an organization's resources
111
What does RIDDOR stand for?
Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013
112
What is the purpose of a Risk Assessment?
To identify hazards and risk factors that could cause harm
113
What is Schedule Management?
Developing, maintaining, and communicating project schedules
114
What is Scope Management?
Identifying, defining, and controlling outputs, outcomes, and benefits
115
What does SMART stand for?
* Specific
* Measurable
* Agreed (or Achievable)
* Realistic
* Time Bound (or Timed)
116
What is an SME?
Any business with fewer than 250 employees
117
What are Stakeholder Relationships?
Managing expectations and objectives of stakeholders
118
What does STEEP stand for?
* Social
* Technological
* Economic
* Ecological
* Political
119
What is Supply Chain Management?
Managing a global network to deliver products and services
120
What is a SWOT Analysis?
A tool to develop business strategy by considering Strengths, Weaknesses, Opportunities, and Threats
121
What is a Synoptic End-Point Assessment?
A general view of the apprentice's achievements at the end of training
122
What is a Thought Shower?
A discussion for generating and discussing new ideas
123
What is a Trading Account?
A fund deposited for financial speculation, overseen by a financial manager
124
What is a Vision Statement?
A statement describing the long-term desired change from an organization's work
125
What does WBS stand for?
Work Breakdown Structure
126
What are the Working Time Regulations 1998?
Regulations stating how people may or may not work, especially regarding hours
