CIC AGENCY MANAGEMENT UPDATED FINAL
EXAM QUESTIONS AND ANSWERS SURE A+
✔✔To strengthen or improve liquidity ratios, an agency: - ✔✔- tracks receivables
- manages debt obligations carefully
- keeps investments as liquid as possible
- avoids taking out more profit in dividends than the agency can handle
✔✔Planning for Change - Committed leadership and all involved employees - ✔✔- plan
- build
- communicate
- implement
- evaluate, adjust, maintain
✔✔SWOT Analysis - ✔✔strengths, weaknesses, opportunities, threats
✔✔SMART characteristics - ✔✔Specific, Measurable, Attainable, Realistic, Timely
✔✔Factors considered in a situational analysis - External Factors - ✔✔- competition
- regulatory environment
- economic trends
- market conditions
- consumer purchasing trends
, - target market analysis
✔✔Factors considered in a situational analysis - Internal Factors - ✔✔- productivity
- financials
- accounts/clients
- company analysis/markets/marketing
- sales and support
- agency personnel
- planning/management/organization
- agency operations/systems/workflow
✔✔Goal setting considerations: - ✔✔- target market niches
- agency personnel and productivity
- market territory
- multiple locations
- marketing and sales
✔✔Long-range planning - ✔✔3-5 years
broad focus
✔✔Short-range planning - ✔✔12 months
specific and detailed
✔✔Workforce Planning benefits: - ✔✔- reduce labor costs
- reduce costs associated with recruiting and training
- assess current human capital strengths and weaknesses
- avoid duplicating inefficient workflows and procedures
- develop a source of appropriate professional training
- establish and build clear employee career paths
- develop or revise written position descriptions
- identify necessary supplies and equipment, building capacity, and financing needs
- create effective mentoring programs
- manage mergers and acquisitions more effectively
✔✔Inadequate Workforce Planning can lead to loss of profitability. losses are frequently
caused by: - ✔✔- the compensation costs of poor hiring decisions
- recruiting costs
- training and onboarding costs
- HR costs
- time lost to correct issues with former employees' work
- lost productivity
- reduced team morale
- customer complaints and attrition
✔✔Workforce Planning - ✔✔- What Does an Agency Need?
EXAM QUESTIONS AND ANSWERS SURE A+
✔✔To strengthen or improve liquidity ratios, an agency: - ✔✔- tracks receivables
- manages debt obligations carefully
- keeps investments as liquid as possible
- avoids taking out more profit in dividends than the agency can handle
✔✔Planning for Change - Committed leadership and all involved employees - ✔✔- plan
- build
- communicate
- implement
- evaluate, adjust, maintain
✔✔SWOT Analysis - ✔✔strengths, weaknesses, opportunities, threats
✔✔SMART characteristics - ✔✔Specific, Measurable, Attainable, Realistic, Timely
✔✔Factors considered in a situational analysis - External Factors - ✔✔- competition
- regulatory environment
- economic trends
- market conditions
- consumer purchasing trends
, - target market analysis
✔✔Factors considered in a situational analysis - Internal Factors - ✔✔- productivity
- financials
- accounts/clients
- company analysis/markets/marketing
- sales and support
- agency personnel
- planning/management/organization
- agency operations/systems/workflow
✔✔Goal setting considerations: - ✔✔- target market niches
- agency personnel and productivity
- market territory
- multiple locations
- marketing and sales
✔✔Long-range planning - ✔✔3-5 years
broad focus
✔✔Short-range planning - ✔✔12 months
specific and detailed
✔✔Workforce Planning benefits: - ✔✔- reduce labor costs
- reduce costs associated with recruiting and training
- assess current human capital strengths and weaknesses
- avoid duplicating inefficient workflows and procedures
- develop a source of appropriate professional training
- establish and build clear employee career paths
- develop or revise written position descriptions
- identify necessary supplies and equipment, building capacity, and financing needs
- create effective mentoring programs
- manage mergers and acquisitions more effectively
✔✔Inadequate Workforce Planning can lead to loss of profitability. losses are frequently
caused by: - ✔✔- the compensation costs of poor hiring decisions
- recruiting costs
- training and onboarding costs
- HR costs
- time lost to correct issues with former employees' work
- lost productivity
- reduced team morale
- customer complaints and attrition
✔✔Workforce Planning - ✔✔- What Does an Agency Need?
