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237 Cards in this Set
- Front
- Back
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Time and motion studies, methods of work and rules of work were all part of the ideas of |
Taylor's scientific management |
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Scientific management viewed people largely as |
machines that needed to be programmed |
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Frederick Taylor believed the best way to improve worker productivity was to |
scientifically determine the most efficient way to perform a task and then teach people |
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Which of the following was identified by the Hawthorne Experiments? |
Workers thought of themselves as a social group and enjoyed the atmosphere of a special room |
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The tendency for people to behave differently when they know they're being studied is referred to as |
The Hawthorne Effect |
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The need for feel a part of a group, for love and acceptance is part of the _________ need on Maslow's hieracrchy |
social |
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According to Maslow's theory, when a need is satisfied |
another, higher level need emerges and motivates a person to satisfy that need |
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According to Herzberg, workers felt that good pay and job security |
provided a sense of satisfaction, but did not motivate them |
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Herzberg's hygiene factors include |
salary |
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Herzberg's theories conclude that |
the best ways to motivate employees is to make their jobs interesting, recognize achievement and add responsibility |
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At Flo Valley Manufacturing workers are encouraged to find their own solutions to problems, and to implement their solutions when practical. They work with little supervision because management feels they are committed workers, and that the workers are pretty creative. Flo Valley reflects a ________ attitude about workers. |
Theory Y |
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________ emphasizes life time employment, collective decision making and individual responsibility for the outcome of decisions. |
Theory Z |
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Douglas McGregor said that managers with a Theory X attitude believed |
workers prefer to be directed |
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According to the text, setting ambitious but attainable goals can motivate workers and improve performance if |
employees are engaged in helping to set the goals |
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The central idea of MBO is that |
employees need to motivate themselves |
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In terms of expectancy theory, which of the following is NOT one of questions employees will ask themselves before committing a maximum effort toward a task? |
Will the task include negative feedback? |
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Reinforcement theory is based on the idea that |
positive and negative reinforcers motivate a person to behave a certain way |
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According to equity theory, when workers perceive an inequity, they will |
try to reestablish an equitable feeling in a number of ways |
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The strategy of making work interesting and motivating employees by moving them from one job to another is called |
job rotation |
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The degree to which a job has substantial impact on the work of others in the company is called |
task significance |
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To create an atmosphere of "us working together" and encourage open communication, managers should do everything but |
reward all upward communication, even if the discussion is negative |
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Generation X managers |
may tend to focus more on results than on hours in the workplace |
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Maslow's Heiracrchy |
Self-actualization Esteem needs Social needs Safety needs Physiological needs |
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Which of the following would not be included in a discussion of the marketing concept? |
A cost orientation |
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Learning as much as possible about customers and doing everything you can to satisfy them and exceed their expectations is |
customer relationship management |
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Which of the following would be considered when discussing the marketing mix variables? |
setting a price for the product |
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When McDonald's considered adding pizza to their menu, the company made pizza available in some of their typical markets, to determine customer reactions. That process is called |
test marketing |
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Intermediaries are |
organizations that are in the middle of a series of organizations that distribute goods from producers to consumers |
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Marketing research helps determine all but which of the following |
how distribution needs will change |
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What is the first step in the marketing research process? |
Collect data |
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3 parts of the marketing concept |
A customer orientation A service orientation A profit orientation |
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What are three things which marketing research helps to determine? |
What products customers have purchased in the past What changes have occurred to alter what they want now What they're likely to want in the future |
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Non-traditional forms of promotion include |
social networking and podcasting |
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Sun-2-Shade is a company that makes self-darkening windshields for cars and trucks. Which of the following would NOT be included as part of Sun-2-Shade's promotion mix? |
Expanding the product line to include sunglasses custom made to match the customer's windshield colors |
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The first step in developing a typical promotion campaign is |
identify a target market |
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Which of the following is a benefit of Internet newspaper advertising, according to the text? |
Inexpensive global coverage |
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Product placement refers to |
paying to put products into TV shows and movies where they will be seen |
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Which media would be best if you are interested in targeting a specific audience, need flexibility, have a local market and don't have a lot of money to spend? |
Radio
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Garden.com's website includes a forum where people can chat with each other to ask questions about gardening problems and interests. This is known as |
interactive promotion |
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In personal selling, the relationship must continue for a long time, as the salesperson responds to new requests for information from current customers. This is an important part of the _______ step in personal selling. |
Follow-up |
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What is the first step in the B2B personal selling process? |
Prospect and Qualify |
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The first formal step in the B2C personal selling process is |
Approach |
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Which of the following is the first step in developing a good public relations program? |
Listen to the public |
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It is the responsibility of the public relations department to |
maintain close ties with the media, community leaders, government officials and other corporate stakeholders |
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Which of the following is most accurate regarding sales promotion efforts? |
Sales promotion efforts are aimed first at employees, then dealers, then at the end consumer |
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What are the tools of the promotion mix? |
Advertising Public relations Personal selling Sales promotion
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How does the public benefit from advertising? |
Ads are informative Money spent pays production costs of TV and radio programs Covers major costs of producing newspaper and magazines |
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In Missouri, a law was passed to allow riverboat gambling. The law has been challenged in the legislature several times by different groups. This kind of law is an example of |
common law |
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The fact that a company can be held liable for damages or injuries caused by a product with a defect even if the company did not know of the defect at the time of the sale is referred to as |
strict product liability |
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A ________ is a document that gives inventors exclusive rights to their inventions for 20 years |
patent |
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The Uniform Commercial Code covers |
sales law
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The __________ prohibits exclusive dealing, tying contracts and interlocking directories |
Clayton Act |
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The federal government receives most of its revenues from |
individual and corporate income taxes |
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Chapter __ of the bankruptcy code allows businesses to continue operations while paying a limited portion of their deals |
11 |
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How has deregulation affected business in the U.S.? |
Some industries have become more competitive |
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Discuss the difference between statutory and common law |
Statutory law is written law. Common law is unwritten law. |
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What is the difference between an intentional tort and negligence? |
Intentional tort is a willful act that results in injury. Negligence- behavior that causes unintentional harm or injury |
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How long does a patent last compared to copyright protection? |
Patent- 20 years Copyright- Lifetime plus 70 years |
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What is the definition of a trademark? How long does it last? |
Trademark is a legally protected name, symbol or design that identifies the goods of one seller and distinguishes from others. Lasts forever. |
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4 Conditions met by a negotiable instrument |
Be written and signed by the maker or drawer Be made payable to the bearer Be made payable on demand or at a certain time Contain an unconditional promise to pay a specified amount of money |
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A contract is legally binding if |
An offer is made Voluntary acceptance of the offer Both parties give consideration Both parties are competent Contract covers a legal act Contract is in proper form |
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3 results of a breach of contract |
Specific performance Payment of damages Discharge of obligation |
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3 elements that should be present in a contract |
It is in writing It specifies mutual consideration It contains a clear offer and agreement |
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What kind of contracts must be put in writing? |
Good worth more than $500, if contract cannot be fulfilled within 1 year or property (land) |
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Traditionally governments have used taxes primarily as |
source of funding for their operations and programs |
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The major bases of tax revenues are |
Income tax Sales tax Property tax |
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The idea that employees try to maintain equity between inputs and outputs compared to others in similar positions |
Equity theory |
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Victor Vroom's theory that the amount of effort employees exert on a specific task depends on their expectations of the outcome |
Expectancy theory |
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Something given to you by someone else as recognition for good work; extrinsic rewards include pay increases, praise and promotions |
Extrinsic reward |
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The idea that setting ambitious but attainable goals can motivate workers and improve performance if the goals are accepted, accompanied by feedback, and facilitated by organizational conditions |
Goal-setting theory |
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The tendency for people to behave differently when they know they are being studied. |
Hawthorne effect |
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In Herzberg's theory of motivating factors, job factors that can cause dissatisfaction if missing but that do not necessarily motivate employees if increased |
Hygiene factors |
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The personal satisfaction you feel when you perform well and complete goals |
Intrinsic rewards |
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A job enrichment strategy that involves combining a series of tasks into one challenging and interesting assignment |
Job enlargement |
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A motivational strategy that emphasizes motivating the worker through the job itself |
Job enrichment |
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A job enrichment strategy that involves moving employees from one job to another |
Job rotation |
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Peter Drucker's system of goal setting and implementation; it involves a cycle of discussion, review, and evaluation of objectives among top and middle-level managers, supervisors, and employees |
Management by objectives (MBO) |
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Theory of motivation based on unmet human needs from basic physiological needs to safety, social, and esteem needs to self-actualization needs |
Maslow's hierarchy of needs |
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In Herzberg's theory of motivating factors, job factors that cause employees to be productive and that give them satisfaction |
Motivators
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Theory developed by Frank and Lillian Gilbreth that every job can be broken down into a series of elementary motions |
Principle of motion economy |
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Theory that positive and negative reinforcers motivate a person to behave in certain ways |
Reinforcement theory |
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Studying workers to find the most efficient ways of doing things and then teaching people those techniques |
scientific management |
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Studies, begun by Frederick Taylor, of which tasks must be performed to complete a job and the time needed to do each task |
time-motion studies |
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Dividing the market by determining which benefits of the product to talk about |
benefit segmentation |
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A word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors |
brand name |
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All the individuals and organizations that want goods and services to use in producing other goods and services or to sell or supply goods to others |
business-to-business market (B2B) |
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All the individuals or households that want goods and services for personal consumption or use |
consumer market |
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The process of learning as much as possible about customers and doing everything you can over time to satisfy them-- or even exceed their expectations-- with goods and services |
customer relationship management (CRM) |
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Dividing the market by age, income, and education level |
Demographic segmentation |
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The process of identifying the factors that can affect marketing success |
Environmental scanning |
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A small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products, or other given issues |
Focus group |
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Dividing the market by cities, countries, states, or regions |
geographic segmentation |
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The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large |
marketing |
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A three-part business philosophy: (1) a customer orientation, (2) a service orientation, (3) a profit orientation |
Marketing concept |
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The ingredients that go into a marketing program: product, price, place, and promotion |
marketing mix |
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The analysis of markets to determine opportunities and challenges, and to find information needed to make good decisions |
marketing research |
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The process of dividing the total market into groups whose members have similar characteristics |
market segmentation |
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Developing products and promotions to please large groups of people |
mass marketing |
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The process of finding small but profitable market segments and designing or finding products for them |
niche marketing |
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Developing a unique mix of goods and services for each individual customer |
one-to-one marketing |
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Data that you gather yourself (not from secondary sources such as books and magazines) |
primary data |
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Any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers, such as the brand name |
product |
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All the techniques sellers use to inform people about and motivate them to buy their products or services |
promotion |
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Dividing the market using the group's values, attitudes, and interests |
psychographic segmentation |
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Marketing strategy with the goal of keeping individual customers over time by offering them products that exactly meet their requirements |
relationship marketing |
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Information that has already been compiled by others and published in journals and books or made available online |
secondary data |
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Marketing directed toward those groups (market segments) an organization decides it can serve profitably |
target marketing |
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The process of testing products among potential users |
test marketing |
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Dividing the market by usage (volume of use) |
Volume (or usage) segmentation |
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Paid, nonpersonal communication through various media by organizations and individuals who are in some way identified in the advertising message |
advertising |
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An online diary (web log) that looks like a Web page but is easier to create and update by posting text, photos, or links to other sites |
blog |
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A full-length TV program devoted exclusively to promoting goods or services |
infomercial |
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A technique that combines all the promotional tools into one comprehensive and unified promotional strategy |
integrated marketing communication (IMC) |
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Promotion process that allows marketers to go beyond a monologue, where sellers try to persuade buyers to buy things, to a dialogue in which buyers and sellers work together to create mutually beneficial exchange relationships |
interactive promotion |
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The face-to-face presentation and promotion of goods and services |
personal selling |
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Customers who pick out their products from online outlets or who do online comparison shopping |
pick economy |
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A means of distributing audio and video programs via the internet that lets users subscribe to a number of files, also known as feeds, and then hear or view the material at the time they choose |
podcasting |
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Putting products into TV shows and movies that will be seen |
product placement |
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The combination of promotional tools an organization uses |
promotion mix |
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A person with the means to buy a product, the authority to buy, and the willingness to listen to a sales message |
prospect |
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Researching potential buyers and choosing those most likely to buy |
prospecting |
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Any information about an individual, product, or organization that's distributed to the public through the media and that's not paid for or controlled by the seller |
publicity |
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The management function that evaluates public attitudes, changes policies and procedures in response to the public's requests, and executes a program of action and information to earn public understanding and acceptance |
public relations |
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Promotional strategy in which heavy advertising and sales promotion efforts are directed toward consumers so that they'll request the products from retailers |
pull strategy |
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Promotional strategy in which the producer uses advertising, personal selling, sales promotion, and all other promotional tools to convince wholesalers and retailers to stock and sell merchandise |
push strategy |
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In the selling process, making sure that people have a need for the product, the authority to buy, and the willingness to listen to a sales message |
qualifying |
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The promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities |
sales promotion |
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A promotional tool in which a company lets consumers have a small sample of a product for no charge |
Sampling |
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A step in the selling process that consists of a question or statement that moves the selling process toward the actual close |
trial close |
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The term now used to describe everything from paying customers to say positive things on the internet to setting up multilevel selling schemes whereby consumers get commissions for directing friends to a specific websites |
viral marketing |
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A promotional tool that involves people telling other people about products they've purchased |
word-of-mouth promotion |
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The branch of government chosen to oversee the legal system through a system of courts |
judiciary |
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The rules, statutes, codes, and regulations that provide a legal framework for the conduct of business and that are enforceable by court action |
business law |
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State and federal constitutions, legislative enactments, treaties of the federal government, and ordinances-- in short, written law |
statutory law |
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The body of law that comes from decisions handed down by courts; also referred to as unwritten law |
common law |
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Decisions judges have made in earlier cases that guide the handling of new cases |
precedent |
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Federal or state institutions and other government organizations created by Congress or state legislatures with delegated power to create rules and regulations within their mandated area of authority |
administrative agencies |
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A wrongful act that causes injury to another person's body, property, or reputation |
tort |
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In tort law, behavior that causes unintentional harm or injury |
negligence |
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Part of tort law that holds businesses liable for harm that results from the production, design, or use of products they market |
product liability |
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Legal responsibility for harm or injury caused by a product regardless of fault |
strict product liability |
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A document that gives inventors exclusive rights to their inventions for 20 years |
patent |
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A document that protects a creator's rights to materials such as books, articles, photos, paintings, and cartoons |
copyright |
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A comprehensive commercial law adopted by every state in the United States that covers sales laws and other commercial laws |
Uniform Commercial Code (UCC) |
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Specific representations by the seller that buyers rely on regarding the goods they purchase |
express warranties |
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Guarantees concerning products legally imposed on the seller |
implied warranties |
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Forms of commercial paper (such as checks) that are transferable among businesses and individuals and represent a promise to pay a specified amount |
negotiable instruments |
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A legally enforceable agreement between two or more parties |
contract |
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Set of laws that specify what constitutes a legally enforceable agreement |
contract law |
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Something of value; consideration is one of the requirements of a legal contract |
Consideration |
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When one party fails to follow the terms of a contract |
breach of contract |
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The monetary settlement awarded to a person who is injured by a breach of contract |
damages |
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A social movement that seeks to increase and strengthen the rights and power of buyers in relation to sellers |
consumerism |
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How the government (federal, state, and local) raises money |
taxes |
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The legal processes by which a person, business, or government entity unable to meet financial obligations is relieved of those obligations by a court that divides any assets among creditors, allowing creditors to get at least part of their money and freeing the debtor to begin anew |
bankruptcy
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Legal procedures initiated by a debtor |
voluntary bankruptcy |
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Bankruptcy procedures filed by a debtor's creditors |
involuntary bankruptcy |
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Government withdrawal of certain laws and regulations that seem to hinder competition |
deregulation |
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As a marketing manager for a retailer of lighting products, Lucinda will likely be involved in |
setting a price for the light fixtures her firm produces |
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Understanding consumers in marketing is considered so important that a whole area of marketing called _________ emerged |
consumer behavior |
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Several years ago, Canadian Sam Holman realized there may be a need for a stronger, more durable wood baseball bat. He went through the process of developing the SamBat, a maple bat of precise dimensions. He set a price with a reasonable margin, he decided to take special orders and sell bats directly from his garage, and he promoted the bat with sales calls to professional baseball camps, where ball players could sample the bat. In marketing terms, we recognize that Mr. Holman designed the _______ |
marketing mix |
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Which of the following statements about the distinction between consumer goods and B2B goods is most accurate? |
The same product can be classified as either a consumer good or an individual good, depending upon its end use |
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Which of the following is the best example of a market? |
Senior citizens willing and able to cruise to the Bahamas |
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A firm's marketing mix consists of 4 major components, which are generally referred to as the four: |
P's |
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All-Star Collectibles focuses its marketing efforts on high-income buyers of unique collectible items. The firm realizes that the number of buyers in this segment of the collectible market is small. However, they are confident that this approach will be profitable since these buyers will pay premium prices for their unique products and superior customer service. All-Star's approach is an example of |
Niche marketing |
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Which of the following is consistent with relationship marketing? |
Working with buyers to determine their individual needs |
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After years of selling in the consumer market, Dave accepted a job as a salesperson for a firm that markets its products in the B2B market. As he considers his new responsibilities, it's likely that he will |
learn that industrial buyers generally require more personal service than buyers in the consumer market |
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Which of the following terms involves the analysis of markets to identify opportunities and challenges? |
marketing research |
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Marketing mistakes are costly! In the past, companies have designed intricate products that markets did not perceive any need for. They have aired promotional campaigns that have offended audiences. They have priced products out of reach of the target market. Marketing experts defend the importance of _______, the process of gathering all sorts of information about customers and products in order to make informed decisions about the product, price, place, and promotion |
marketing research |
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In terms of the number and dollar volume of transactions, the B2B market is ______ the consumer market |
larger than |
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As part of her responsibilities as a marketing manager, Jan has completed a review of data her dept has gathered through telephone interviews, mail surveys and focus groups. Jan is disappointed because the research results strongly suggest that a product idea she helped develop is unlikely to be popular with potential customers. Jan should |
accept the research results and reevaluate the proposed product |
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The most important technological change likely to affect the marketing success of many firms is the |
growth of consumer databases, blogs, and social networking |
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Which of the following statements about the B2B market it true? |
Industrial buyers are usually large |
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The management of GamesPeople designed a comprehensive strategy that unifies advertising, personal selling, public relations and sales promotion activities creating a consistent message. This effort to promote a positive brand image represents an __________ program |
integrated marketing communication |
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Which of the following statements is the most accurate?
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Closing may involve getting the customer to agree to a trial close |
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_______ refers to such tactics as paying people to say good things about a product on the Internet or setting up multilevel selling schemes that reward people for directing their friends to a company's website. |
Viral marketing |
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Which of the following statements about global advertising is most correct? |
Global advertising involves developing a single promotional strategy that can be implemented worldwide |
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"You never get a second chance to make a good first impression," captures the importance of the ______ step in the selling process |
approach |
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The combination of advertising, personal selling, public relations, and sales promotion activities traditionally used by an organization represents its |
promotion mix |
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CarGo uses its Web page to target car parts stores and car owners and tell them of the benefits of using their long lasting spark plugs. CarGo apparently uses the Internet |
for both its push and pull strategies |
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Woodson Productions gives young adults free tickets to concerts it promotes if they agree to go into an Internet chat room and share their positive experience with others. The free tickets Woodson provides represent |
swag |
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Which of the following is a consumer sales promotion activity? |
Contests |
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Which of the following represents the primary purpose of a firm using institutional advertising? |
The desire to create a positive image for the firm |
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Identify the assumptions of a Theory X manager |
The average person dislikes work and will avoid if possible Because of this dislike, workers must be forced, controlled, directed, or threatened with punishment to make them put forth the effort to achieve the organizations goals The average worker prefers to be directed, wishes to avoid responsibility, has relatively little ambition, and wants security Primary motivators are fear and money |
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What are the natural consequences of a Theory X manager's attitude? |
The natural consequences of these assumptions is a manager who is very busy and watches people closely, telling them what to do and how to do it. |
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What are the assumptions of a Theory Y manager? |
Most people like to work; it is natural as play or rest Most people naturally work toward goals to which they are committed The depth of a person's commitment to goals depends on the perceived rewards for achieving them Under certain conditions, most people not only accept but also seek responsibility People are capable of using a relatively high degree of imagination, creativity, and cleverness to solve problems |
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Maslow's Triangle E D C B A Smallest point to bottom |
E.)Self-actualization D.)Esteem Needs C.)Social Needs B.) Safety Needs A.) Physiological Needs
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What is one of the best ways to reduce negative word of mouth? |
Take care of consumer complaints quickly and effectively |
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An offer becomes legally binding only when: |
there is a voluntary acceptance of the offer |
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The principle of mutual acceptance means that: |
both parties agree to the terms |
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How is a person determined to be competent to enter a contract? |
Must be over 18 and not under influence of drugs or alcohol |
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When does a contract become illegal and not enforceable? |
If it is stolen merchandise or illegal drugs |
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What kind of contracts must be put in writing? |
Goods worth more than $500 or if contract cannot be fulfilled within 1 year or property (land) |
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What is the purpose of a sin tax? |
Popular way for cash starved states to raise revenues |
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A tax credit is: |
amount firms can deduct from their tax bill |
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The federal government receives its largest share of taxes from |
income tax |
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States and local governments make extensive use of |
sales tax |
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School districts generally depend on |
property tax |
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In what order are assets distributed among creditors in a Chapter 7 bankruptcy? |
FIRST- creditors with secured claims ex. bankruptcy lawyer |
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What does Chapter 11 bankruptcy allow? |
A company sued by creditors continues to operate under court protection while it tries to work out a plan for paying off its debts |
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The move toward deregulation began because |
some felt there were too many laws and regulations, costing the public to much money |
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Warranties offered by sellers can be either full or limited. Full warranty- requires a seller to replace or repair a product at no charge if the product is defective |
Limited warranty typically limits the defects or mechanical problems that are covered. |
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Which liability holds a company liable for damages caused by a defective product even if the firm was unaware of the defect at the time of sale? |
Strict product liability |
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An ______ tort is a willful act that results in injury. |
Intentional |
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One of the benefits that deregulation is supposed to provide to customers is |
reduced prices |
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You agree to sell your car to your neighbor for $5,000. You and your neighbor have provided each other: |
consideration |
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Which of the following would cause a contract to be void? |
Duress |
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Which of the following is true of a copyright? |
It protects a creator's rights to materials such as books, paintings, and cartoons |
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Concerns over the increase in the number of business laws and regulations that were costing the public money led to |
Deregulation |
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The social movement designed to increase and strengthen the rights and powers of buyers in business transactions is called: |
consumerism |
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You verbally promise to pay your sister tomorrow the $25 that you owe her. This promise, however, is not a negotiable instrument because |
It is not in writing |
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Big Johnson Products charges Moe's Meats a lower price for good because Moe and Johnson play golf together regularly. Big Johnson charges other firms similar to Moe's Meats more for the same products and this is beginning to hurt the business of the other firms. In fact, Moe's meat is taking so much business away from the others due to its lower prices that the other firms are in danger of going out of business. This is an example of |
Price discrimination |
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The Pillsbury Doughboy is an example of a |
trademark |
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The warranty you receive in the box with your new DVD is an |
express warranty |
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The two main purposes of taxes are |
to raise money for government funding and to encourage or discourage certain taxpayer behaviors |
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Which of the following describes the requirement that both parties in a legally binding contract must give something of value? |
consideration |
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The Griggs v. Duke Power Company (1971) case established a precedent on the need to use job-related tests in employment practices. Similar court cases have been decided based on this decision. This is an example of |
common law |
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______ instruments are forms of commercial paper that are transferable among business and individuals that represent a promise to pay a specified amount. |
Negotiable |
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A government policy aimed at reducing the purchase of a specific good through increased taxes has been most often applied to |
beer |
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The regulation of marriages and payment for personal injuries is covered by |
civil law |
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Which tax is designed to reduce the consumption of a specific good? |
Sin tax |
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When McDonald's lost a lawsuit to a person severely burned by hot coffee, McDonald's was found to be guilty of |
negligence |
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Who owns the copyright of a cartoon character created by an employee of a firm as part of their normal job responsibilities? |
The employer of the cartoon character's creator |
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What is Frederick Taylor known for? |
Human efficiency engineer Frederick Taylor was one of the first people to study management and has been called the father of scientific management. He conducted time-motion studies to learn the most efficient way of doing a job and then trained workers in those procedures. |
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Describe the Hawthorne studies and their significance to management. What led to the more human-based managerial styles? |
The greatest impact on motivation theory was generated by the Hawthorne studies in the late 1920s and early 1930s. In these studies, Elton Mayo found factors such as feelings of involvement and participation led to greater productivity gains than did physical changes in the workplace |
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Distinguish between the motivators and hygiene factors identified by Herzberg. What are the factors called motivators? What are the hygiene factors? |
Herzberg found that while some factors motivate workers (motivators), others cause job dissatisfaction if missing but are not motivators if present (hygiene or maintenance factors). Motivators-The work itself, achievement, recognition, responsibility, growth, and advancement. Hygiene-Company policies, supervision, working conditions, interpersonal relationships and salary |
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Who developed Theory X and Theory Y? |
Douglas McGregor held that managers have one of two opposing attitudes toward employees. He called them Theory X and Theory Y |
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What is Theory X? |
Theory X assumes the average person dislikes work and will avoid it if possible. Therefore, people must be forced, controlled, and threatened with punishment to accomplish goals. |
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What is Theory Y? |
Theory Y assumes people like working and will accept responsibility for achieving goals if rewarded for doing so. |
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What is Theory Z? |
William Ouchi based Theory Z on Japanese management styles and stresses long-term employment; collective decision making; individual responsibility; slow evaluation and promotion; implicit, informal control with explicit, formalized control; moderately specialized career paths; and a holistic concern for employees. |
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What is the difference between high-context and low-context cultures? |
In high-context cultures people build personal relationships and develop group trust before focusing on tasks. In low-context cultures, people often view relationship building as a waste of time that diverts attention from the task. |
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What kind of organizations are involved in marketing? |
All kinds of organizations use marketing, including for-profit and nonprofit organizations like states, charities, churches, politicians, and schools. |
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What is environmental scanning? |
Environmental scanning is the process of identifying factors that can affect marketing success. Marketers pay attention to all the environmental factors that create opportunities and threats. |
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What are the steps in conducting marketing research? |
1. Define the problem or opportunity and determine the present situation 2. Collect data 3. Analyze the data 4. Choose the best solution |
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What are administrative agencies? |
Administrative agencies are federal or state institutions and other government organizations created by Congress or state legislatures with power to create rules and regulations within their area of authority. |
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What does Article 2 of the UCC cover? |
Article 2 contains laws regarding warranties. Express warranties are guarantees made by the seller, whereas implied warranties are guarantees imposed on the seller by law. |
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What does Article 3 of the UCC cover? |
Article 3 covers negotiable instruments such as checks. A negotiable instrument must (1) be written and signed by the maker or drawer, (2) be made payable on demand or at a certain time, (3) be made payable to the bearer and (4) contain an unconditional promise to pay a specified amount of money |
