Professional Development

Jenn has bookkeeping responsibilities at her new job. In what department does she likely work?

Accounting. Jenn likely works in the accounting department since she has bookkeeping responsibilities. Accounting includes such activities as bookkeeping, systems design, analysis, and interpretation of accounting information. Jenn does not work in marketing research, operations management, or securities and investments. Marketing research jobs focus on marketing activities that involve determining information needs, designing data-collection processes, collecting data, analyzing data, presenting data, and using data for marketing planning. Employees working in operations management focus on planning, organizing, coordinating, and controlling the resources needed to produce/provide a business's goods and/or services. The securities and investments industry consists of brokerage firms, investment banks, and stock exchanges, all of which support the flow of funds from investors to companies and institutions.

An employee who answers phone calls and manages the office schedule works in

Administrative services. An employee who answers phone calls and manages the office schedule works in administrative services. Employees working in administrative services facilitate business operations through a variety of administrative and clerical duties, including information and communication management, data processing and collection, and project tracking. These positions are often referred to as support staff positions. This employee would not be working in operations management, general management, or human resource management. Employees working in operations management focus on planning, organizing, coordinating, and controlling the resources needed to produce/provide a business's goods and/or services. Careers in general management focus on planning, organizing, directing, and evaluating part or all of a business organization through the allocation and use of financial, human, and material resources. Human resource management careers focus on the staffing activities that involve planning, recruitment, selection, orientation, training, performance appraisal, compensation, and safety of employees.

John has just been hired as a loan officer. His new career is in the area of

Banking services. John's career as a loan officer is in the area of banking services. Banking services include cash management, short-term investments, mortgages and other loans, credit cards, and bill payment. John's career is not in corporate finance, insurance, or accounting. The corporate finance function in a company is to manage policy and strategy for (and the implementation of) capital structure, budgeting, acquisition and investment, financial modeling and planning, funding, dividends, and taxation. The insurance industry, which exists to protect individuals and businesses from financial losses, delivers "products" that transfer risk from an individual or business to an insurance company. Accounting encompasses careers that record, classify, summarize, analyze, and communicate a business's financial information and business transactions for use in management decision-making.

Natalia is upset because she was supposed to work on a certain account today, but her boss switched her to another account at the last minute. Which time-management principle does she need to learn?

Be flexible. Natalia needs to learn how to be flexible. It's more important that she work on what her boss needs her to work on. Everyone encounters these unexpected changes in his/her schedule. Natalia's problem doesn't have anything to do with knowing when and how she works best, planning meetings wisely, or getting enough sleep.

Which of the following is a career area in management and administration: Select one: a. Business information management b. Accounting c. Insurance d. Professional selling

Business information management. Business information management is a career area in management and administration, along with administrative services, general management, human resource management, and operations management. Professional selling is a career area in marketing. Insurance and accounting are career areas in finance.

Which of the following skills is at the core of most business activities: a. Computer/Technology skills b. Math skills c. Creativity d. Communication skills

Communication skills. Communication skills are at the core of most business activities. Creativity, math skills, and computer/technology skills are all important business skills, but the heart of business is communicating with a variety of groups to make a business profitable.

Diana prepares bills and invoices for her company. Her career is in the area of

Corporate finance. Diana's job preparing bills and invoices for her company is in the area of corporate finance. The corporate finance function in a company is to manage policy and strategy for (and the implementation of) capital structure, budgeting, acquisition and investment, financial modeling and planning, funding, dividends, and taxation. Diana's career is not in the area of marketing communications, securities and investments, or professional selling. Marketing communications involves marketing activities that inform, remind, and/or persuade the targeted audience of ideas, experiences, goods/services, and/or images. The securities and investments industry consists of brokerage firms, investment banks, and stock exchanges, all of which support the flow of funds from investors to companies and institutions. Careers in professional selling involve marketing and management activities that determine customer needs/wants and respond through planned, personalized communication to influence purchase decisions and enhance future business operations.

Beau is really stressed out because he agreed to take on three new clients that he really didn't have room for. Which time-management principle does he need to learn?

Don't bite off more than you can chew. Beau needs to learn not to bite off more than he can chew. Taking on more clients than he can handle means he really won't give his best effort to any of them. Beau's problem isn't related to focusing on goals, getting enough sleep, or dividing a large project into smaller parts.

The best business career prospects are available to candidates who have

Earned a bachelor's degree. The best business career prospects are available to candidates who have earned a bachelor's degree. Some jobs require only a high school diploma, but these are only entry-level jobs. A background in accounting or a stock broker's license may be helpful for certain careers or jobs, but neither of these is as useful without the foundation of a bachelor's degree.

When scheduling your daily activities, always keep in mind the need for

Flexibility. When scheduling your daily activities, always keep in mind the need for flexibility. Unexpected circumstances arise in everyone's life. Appointments, assignments, and activities will automatically show up on our schedules, but flexibility is something we need to make sure we've built in.

Rebecca spent three hours on a project yesterday, but is worried because she only finished one section. Which time-management principle does she need to learn?

Focus on goals, not on tasks. Rebecca needs to learn to focus on goals instead of tasks. Although she spent quite a bit of time on her project, she shouldn't be discouraged. Her focus should be on overall project completion versus how much time it took to complete the first section. Working on a project is not biting off more than you can chew; it's a normal part of having a job. Being flexible probably wouldn't have any impact on how much Rebecca accomplished while working on her project. Rebecca could have worked on it during her "down time," but her main problem is that she wasn't focused on the main goal of completing it.

Employees who have supervisory responsibilities for part or all of the business work in

General management. Employees who have supervisory responsibility for part or all of the business work in general management. Careers in general management focus on planning, organizing, directing, and evaluating part or all of a business organization through the allocation and use of financial, human, and material resources. These employees do not work in business information management, securities and investments, or merchandising. Business information management employees help to align business and IT goals. The securities and investments industry consists of brokerage firms, investment banks, and stock exchanges, all of which support the flow of funds from investors to companies and institutions. Merchandising careers involve marketing activities that are focused on efficient and effective product planning, selection, and buying for resale.

Jared was just hired for a new job. The employee who interviewed him and took him through the hiring process works in

Human resource management. The employee who interviewed Jared and took him through the hiring process works in human resource management. Human resource management careers focus on the staffing activities that involve planning, recruitment, selection, orientation, training, performance appraisal, compensation, and safety of employees. This employee does not work in marketing management, banking services, or operations management. Careers in marketing management involve all marketing functions, including channel management, marketing-information management, pricing, product/service management, promotion, and selling. Banking services include cash management, short-term investments, mortgages and other loans, credit cards, and bill payment. Employees working in operations management focus on planning, organizing, coordinating, and controlling the resources needed to produce/provide a business's goods and/or services.

It's important to keep your schedule

In one place. It's important to keep your schedule in one place so you always know where to find it. Doing so will save you time and keep you focused. You can keep your schedule in your briefcase, on your kitchen table, or on your desk, just as long as all the important information is together in one place.

Throwing out old papers you no longer need means you are organizing

Information. Throwing out old papers you no longer need means you are organizing in-formation. Organizing information helps you manage your time more effectively because information can pile up quickly and become overwhelming. Throwing out old papers is not organizing goals, time, or space.

Which of the following is a career area in finance: Select one: a. Insurance b. General management c. Marketing communications d. Professional selling

Insurance. Insurance is a career area in finance, along with accounting, banking services, corporate finance, and securities and investments. General management is a career area in management and administration. Marketing communications and professional selling are career areas in marketing.

Which of the following industries exists to protect individuals and businesses from financial losses: Select one: a. Operations management b. Insurance c. Accounting d. Marketing research

Insurance. The insurance industry, which exists to protect individuals and businesses from financial losses, delivers "products" that transfer risk from an individual or business to an insurance company. Marketing research jobs focus on marketing activities that involve determining information needs, designing data-collection processes, collecting data, analyzing data, presenting data, and using data for marketing planning. Employees working in operations management focus on planning, organizing, coordinating, and controlling the resources needed to produce/provide a business's goods and/or services. Accounting encompasses careers that record, classify, summarize, analyze, and communicate a business's financial information and business transactions for use in management decision-making.

Which part of the time-management process helps you get a better idea of when you're most productive?

Keeping a time log. Keeping a time log helps you get a better idea of when you're most productive, as well as how you're actually spending your time and what your personal "time thieves" are. Identifying objectives, creating "to-do" lists, and setting goals do not help you understand when you're most productive.

Brandon is a morning person, but he's trying to stay up late and finish some work for tomorrow, and he's not getting very far. Which time-management principle does he need to learn?

Know when and how you work best. Brandon needs to learn when and how he works best. He's a morning person, so staying up late finishing his work isn't a good idea for him. He would be better off getting up a little earlier in the morning to finish it. His situation doesn't have anything to do with being on time or not biting off more than he can chew. He may not have had as much to finish if he had broken up the project into smaller parts, but his main problem is that he is working at the wrong time of day.

Billie's team was 20 minutes late starting the meeting because she didn't show up at work on time. Which time-management principle does she need to learn?

Learn to be on time. Billie needs to learn to be on time and to respect others' time as well as her own. She shouldn't make the entire team wait on her because she's late. Her problem doesn't have anything to do with knowing when and how she works best, making the most of her "down time," or focusing on goals instead of tasks.

Greg is 23 and just started his first job out of college. He wants to work on the New York Stock Exchange by the time he's 40 years old. What type of goal is this?

Long term; decided by yourself. Goals are statements that you make, telling yourself what you want to achieve. Goals come in many shapes and sizes. Some you decide for yourself, and some your boss or supervisor decides for you. Some are long term, and some are short term. Greg's goal of working on the New York Stock Exchange by the time he's 40 is a long-term goal, decided by himself, because it won't be achieved until well into the future.

Taylor works as a public relations manager. His career is in the area of

Marketing communications. Taylor's career in public relations is in the area of marketing communications. Marketing communications involves marketing activities that inform, remind, and/or persuade the targeted audience of ideas, experiences, goods/services, and/or images. Examples of marketing communications techniques include advertising, direct marketing, digital marketing, publicity/public relations, and sales promotion. Taylor's career is not in the areas of operations management, professional selling, or marketing research. Employees working in operations management focus on planning, organizing, coordinating, and controlling the resources needed to produce/provide a business's goods and/or services. Careers in professional selling involve marketing and management activities that determine customer needs/wants and respond through planned, personalized communication to influence purchase decisions and enhance future business operations. Marketing research jobs focus on marketing activities that involve determining information needs, designing data-collection processes, collecting data, analyzing data, presenting data, and using data for marketing planning.

Which of the following items might show up on a daily "to-do" list: Select one: a. Move to New York City. b. Marketing department meeting at 1:30. c. Research at least five career paths. d. Read 20 articles in BusinessWeek.

Marketing department meeting at 1:30

Katharine has just been hired as a brand manager at a retail chain. Her career is in the area of

Marketing management. Katharine's career is in the area of marketing management. Careers in marketing management involve all marketing functions, including channel management, marketing-information management, pricing, product/service management, promotion, and selling. Katharine's career is not in the area of banking services, professional selling, or operations management. Banking services include cash management, short-term investments, mortgages and other loans, credit cards, and bill payment. Careers in professional selling involve marketing and management activities that determine customer needs/wants and respond through planned, personalized communication to influence purchase decisions and enhance future business operations. Employees working in operations management focus on planning, organizing, coordinating, and controlling the resources needed to produce/provide a business's goods and/or services.

Employees who look for meaningful clues about what customers want and why they want it work in

Marketing research. Employees who look for meaningful clues about what customers want and why they want it work in marketing research. Marketing research jobs focus on marketing activities that involve determining information needs, designing data-collection processes, collecting data, analyzing data, presenting data, and using data for marketing planning. These employees do not work in administrative services, securities and investments, or insurance. Employees working in administrative services facilitate business operations through a variety of administrative and clerical duties, including information and communication management, data processing and collection, and project tracking. The securities and investments industry consists of brokerage firms, investment banks, and stock exchanges, all of which support the flow of funds from investors to companies and institutions. The insurance industry, which exists to protect individuals and businesses from financial losses, delivers "products" that transfer risk from an individual or business to an insurance company.

Which of the following is a career area in business: Select one: a. Marketing b. Entertainment c. Health care d. Mathematics

Marketing. Marketing is a career area in business, along with management/administration and finance. Although there may be business opportunities in the fields of health care, entertainment, and mathematics, they are not career areas in business.

Professional selling belongs in what career area?

Marketing. Professional selling is a career in marketing. The marketing field includes career opportunities whose processes create, communicate, and deliver value to customers and manage customer relationships in ways that benefit the organization and its stakeholders. Professional selling is not a career in management and administration, finance, or sports, although these business areas may use professional selling in certain marketing efforts.

Bo's job is to choose and buy clothing for a retail store. His career is in the area of

Merchandising. Bo's career is in the area of merchandising. Merchandising careers involve marketing activities that are focused on efficient and effective product planning, selection, and buying for resale. Bo does not work in professional selling, marketing research, or general management. Careers in professional selling involve marketing and management activities that determine customer needs/wants and respond through planned, personalized communication to influence purchase decisions and enhance future business operations. Marketing research jobs focus on marketing activities that involve determining information needs, designing data-collection processes, collecting data, analyzing data, presenting data, and using data for marketing planning. Careers in general management focus on planning, organizing, directing, and evaluating part or all of a business organization through the allocation and use of financial, human, and material resources.

Which of the following is a career area in marketing: Select one: a. Banking services b. General management c. Merchandising d. Administrative services

Merchandising. Merchandising is a career area in marketing, along with marketing communications, marketing management, marketing research, and professional selling. Administrative services and general management are career areas in management and administration. Banking services is a career area in finance.

Manny hates cleaning the counters at the restaurant at the end of the night, so he puts off doing it until the last minute. His "time thief" is

Procrastination. Manny's "time thief" is procrastination. Procrastination is putting off until tomorrow what you could get done today. Manny procrastinates because he doesn't enjoy the task. Distractions, fear, and interruptions are not Manny's "time thieves" in this situation.

Learning new job skills or updating your current job skills is known as

Professional development. Learning new job skills or updating your current job skills is known as professional development or continuing education. You might go back for your graduate degree or participate in workshops or seminars specific to your career. Licensing is something specific to a career—a requirement necessary to perform the job, such as a stock broker's license. An internship is training in which schools and businesses cooperate to provide on-the-job practice for learners; learners receive classroom instruction and on-the-job experience. A bachelor's degree is something you earn before starting your business career.

Which industry includes brokerage firms and stock exchanges? Select one: a. Professional selling b. Corporate finance c. Securities and investments d. Business information management

Securities and investments

Which of the following steps in the time-management process comes first: a. Identify objectives b. Prioritize daily activities c. Schedule daily activities d. Set goals

Set goals. Setting goals is the first step in the time-management process. To use your time wisely, you must know what you are working toward. You must set goals before you can identify objectives or prioritize and schedule daily activities.

Cleaning your office means you are organizing

Space. Cleaning your office means you are organizing space. Organizing space helps you manage your time more effectively because it's tough to be efficient when you are surrounded by a giant mess. Cleaning your office does not organize goals, time, or information.

One of Robyn's goals is to finish her editorial for the newspaper by February 8. Which of the following is an objective for that goal: a. Send paper to printer by February 10. b. Submit editorial for proofreading by February 6. c. Work on newspaper layout for two hours on February 5. d. Take pictures for sports page by February 3.

Submit editorial for proofreading by February 6. Submitting her editorial for proofreading by February 6 is an objective for Robyn's goal of finishing the editorial by February 8. Working on the newspaper layout for 2 hours on a certain day, taking pictures for the sports page on a certain day, and sending the paper to the printer on a certain day could be objectives for different goals, but not for the goal relating to the editorial.

What is the greatest number of top-priority activities you should schedule for yourself in one day?

Three. It's important to be cautious not to overload yourself with tasks and activities. You can only accomplish so much in the span of one day. One rule of thumb says to give yourself no more than three top-priority objectives per day.

How is the term "time management" misleading?

Time itself isn't under our control; only our actions are. The term "time management" is misleading because time itself isn't under our control; only our actions are. There are many things we can do to control the way we spend our time, however. No one knows how much time s/he has on earth, but that fact does not make the term "time management" misleading. Time is free, but that does not mean it doesn't need to be managed.

Which of the following is a true statement about time management: Select one: a. Time management requires a lot of work. b. Time management is a matter of common sense. c. Time management can be kept very simple. d. Time management drains the fun out of life.

Time management requires a lot of work

Time management refers to how people

Use the 24 hours in their day. Time management refers to how people use the 24 hours in their day. Organizing belongings, using calendars, and keeping time logs are all things people might do to manage their time, but they are not definitions of time management.

Which of the following is a characteristic of time: a. Costly b. Worthless c. Unevenly distributed d. Valuable

Valuable. Time is a very valuable resource, because if you look at the big picture, it passes by very quickly. No one would say that time is worthless. Time is not costly; it is absolutely free. No one ever has to pay a dime for the time they've been given. Time is not unevenly distributed; it is evenly distributed. It is the one natural resource that everyone has equal access to.