BA 100 Final Content Not Comprehensive

Speculative risk

A chance of loss or gain

pure risk

only loss

What is the 5 step risk management process

risk identification, risk analysis, risk mitigation planning, risk management implementation, review and tracking

risk avoidance

avoiding an act that would create a risk

risk control

techniques that reduce the frequency or severity of losses

Risk Retention

setting aside money to manage risk

risk transfer

buying insurance to shift the risk

Avoidance

purchasing activities from outside providers

control

training new employees and work methods

retention

setting aside reserve funds from revenue

transfer

buying a policy from an insurer

premium

an amount to be paid for an insurance policy

policy

formal agreement detailing payment

deductible

Amount you must pay before receiving any benefits

insurers only insurer when these 4 criteria are met

predictability,casualty, unconnectedness,verifiability

predictability

use statistics to forecast

casualty

losses result from accident

unconnectedness

losses must be random and independent

Verifiability

time place and amount must be verifiable

liability insurance

covers losses where the insured is liable

property insurance

covers physical damage

business interruption insurance

covers income lost when a firm is forced to close

key person insurance

offsets lost income and recruitment costs resulting from a key employee

business continuation agreeements

plans for partners to buy ownership interest of a deceased associate

characteristics of transactional networking

short term gain, just getting job, impersonal

characteristics of relational networking

long term, authentic conversations, learning about career path

3ps of a professional persona

purpose, polish, presence

talking skills during networking

initiate, maintain, conclude

when networking follow ups

post events, informational interview, formal networking calls

what networking follow up

personalized, within 24 hours, gratitude

human capital

investment in its employees

talent management

portfolio of talents to be managed and deployed for success

job analysis

systematic analysis of jobs within the organization

internal supply

who is currently employed and ready for promotion

replacement charts

shows possible successors for a job

external supply

who is available in the labor market

Title VII

forbids discrimination

adverse impact

screens out protected groups at a rate higher than non protected

affirmative action

hiring employees from underrepresented groups

fair labor standards act

sets minimum wage and overtime

equal pay act

equal pay for the same job regardless of sex

FMLA

up to 12 weeks unpaid leave for family/medical emergencies

wagner act

allows unions

Taft Hartley act

limits union act

OSHA

mandates safe working conditions

realistic job preview

tell applicants real nature of the job

mandatory benefits

social security, workers comp

discretionary benefits

health insurance, paid time off, on site childcare

retirement plans

401k

cafeteria benefits plan

benefit plan that sets limits on benefits per employee

recency error

basing annual review only on last few weeks of work

shop steward

liasion between workers and supervisors

union tactics

strike,boycott,slowdown

management tactics

lockout,strikebreakers

third party resolution

mediation, arbitration

what is the largest branch

executive

policy changes that will impact capital markets

crypto regulation, deregulating capital, less ESG

immigration changes

heightened enforcement, less legal pathways

PITI

principal, interest, taxes, insurance

front end ratio

housing only, PITI no more than 28% gross monthly

back end ratio

total debt, PITI no more than 36% gross monthly

IRA

taxed at withdrawal, early withdrawal penalized, contributions are tax deductible

Roth IRA

tax free withdrawal, penalty free withdrawal

5 step financial plan

assess current financial condition, develop financial goals, identify a plan of action, implement your financial action plan, revise your financial plan

savings accounts

FDIC insured, lower interest rate, easy access

certificate of deposits

rate set for a term, penalty for early withdrawal, FDIC insured

Mutual funds

automatically diversified, management fund, may hold stocks you dont want

Stocks

pick and choose, higher risk but higher return

college savings

tax free growth, qualifying education expense

401k

workplace tax advantaged retirement account, employer match contributions to a limit

what are the 3 levels of MMOL

yourself, teams, organizations

Whats driving change

technology and AI, sustainability and purpose, globalization, human centered leadership

High growth roles

tech+business, impact, new finance