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31 Cards in this Set
- Front
- Back
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What is moral? |
And employees feelings about the job, about superiors, and about the firm itself |
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What are the types of businesses? |
1. Service 2. Manufacturing 3. Intermediaries |
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What are the phases of the business Cycle |
1. Peak 2. Recession 3. The through 4. Recovery |
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What is the small business administration |
A governmental agency that assist, counsels, and protects the interests of small businesses in the United States |
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What is a joint venture |
An agreement between two or more groups to form a business entity in order to achieve a specific goal or to operate for a specific amount of time |
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What is inflation |
A general rise in the level of prices |
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What is productivity |
At the average level of output per worker per hour |
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What is a recession |
Two or more consecutive 3-months periods of decline in the country's GDP |
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What is job enrichment |
A motivation technique that provides employees with more variety and responsibility in their jobs |
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How is part-time work different from job sharing |
Job sharing is an arrangement where two people share one full-time position and part-time work is permanent employment in which individuals work less than a standard work week |
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What is a promotion mix |
The particular combination of promotional methods a firm uses to reach a target market |
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What is advertising |
Advertising is a paid non-personal message communicated to a select audience through a mass media |
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What is outsourcing |
The process of finding outside vendors and suppliers that provide professional help, parts, and materials at a lower cost |
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What is zero based budgeting |
A budgeting approach in which every expense in every budget must be justified |
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What are accounts receivable |
Assets most commonly plays for short-term financing |
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Are companies required to pay dividends |
No |
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What is common stock |
Stock whose owners may vote on corporate matters but whose claims on profits and assets are subordinate to the claims of others |
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Examples of advertising media |
Television Direct mail Newspapers Radio Magazines |
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What is institutional advertising |
Advertising designed to enhance a firm's image or reputation |
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What is a marketing information system |
A system for managing marketing information that is gathered Continually from internal and external |
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What are the channels of distribution |
A sequence of marketing organizations that directs a product from the producer to the ultimate user |
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What is teamwork |
This organizational structure is popular because it encourages employees to participate more fully and business decisions |
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What is a team |
Two or more workers operating as a coordinated unit to accomplish a specific task or goal |
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Examples of advisory positions |
Legal Services, public affairs, and human resources |
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What is optimization |
As part of a goal setting, the manager responsible for both departments must strike a balance between conflicting goals. The balance is called optimization |
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What is a SWOT analysis |
The identification and evaluation of a firm's strengths, weakness, opportunities, and threats |
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Why are there more small businesses in the service industry |
Production needs a large initial investment |
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What is the primary reason businesses fail |
Mismanagement |
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Service Industries |
This category accounts for more than 48% of all small businesses about the, 3/4 provide such a non financial services such as medical and dental care; watch, shoe, and TV repairs; haircutting and styling; restaurant meal; and dry cleaning |
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What is a franchise agreement |
A license to operate an individually owned business as though it were part of a chain of outlets or stores |
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What is a not-for-profit corporation |
A corporation organized to provide a social, educational, religious, or other service rather than to earn a profit |
