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234 Cards in this Set

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human resources management
function of attracting, developing, and retaining enough qualified employees to perform the activities necessary to accomplish organizational objectivies
performance appraisal
evaluation of an employees job performance by comparing actual results with desired outcomes
compensation based on an hourly pay rate or the amount of output produced
compensation calcuated on a periodic basis, such as weekly or monthly
employee benefits
rewards such as retirement plans, health insurance, vacation, and tuition reimbursement provided for employees either entirely or in part at the companies expense
process of reducing the number of employees withina firm by eliminating jobs
contracting with another business to perform task or functions previously handled by internal staff members
contingent worker
employee who works part time, temporarily, or for the period of time specified in the contract
mental attitude of employees toward their employer and jobs
maslow's hierarchy of needs
theory of motivation proposed by Abraham Maslow. According to the theory, people have five levels of needs that they seek to satisfy: physiological, safety, social, esteem,and seld-actualization
job enlargement
job design that expands an employeesresponsibilities by increasing the numcer and variety of task assigned to the worker
job enrichment
change in job duties to increase employees authority in planning their work, deciding how it should be done, and learning new skills
labor union
group of workers who have banded together to achieve common goals in the areas of wages, hours, and working conditions
collective bargaining
process of negotiation between management and union representatives for the purpose of arriving at mutually acceptable wages and working conditions for employees
formal complaint filed by an employe or a union that management is violating some provision of the union contract
process of achieving organization objectives through people and other resources
professional employer organization
a company that helps small and midsized firms with a wide range of human resource services
employment at will
practice that allows the employment relatioship to begin or end at anytime at the decision of either the employee or the employer for any legal reason
on-the-job training
training method that teaches an employee to complete new task by performing them under the guidance of an experience employee
management development program
training designed to improve the skills and broaden the knowledge of currnt and potential executives
360-degree performance review
employee performance review that gathers feed back from co-workers, super visors, managers, and someties customers
living wage
legally mandated wage that allows a worker o support a family of four without any publc assistance
401(k) plan
retirement savings plan for which employees can make pretax contributions; sometimes, empoyeers make addiional contributions to the plan
flexible benefit plan
benefit system that offers employees a range of options from which they may choose the types of benefits they recieve
paid time off
bank of time that employees can use for holidays, vacation, and sick days
flexible work plan
employment that allows personnel to adjust their working hours and places of work to accomodatether personal lives.
scheduling system that allows employees to set their own work hours within constraints specified by the firm
compressed worksheet
sheduling option that allows employees to work the regular number of hours per week in fewer than the typical five days
job sharing program
management decisions that allows two or more employees to divide the task of one job
home-based employee
Theory X
assumption that employees dislike work and will try to avoid it
Therory Y
assumption that employees enjoy work and seek social, esteem, and self actualization fulfillment
Therory Z
assumption that employee involvement is key to productivity and quality of worklife
dispute resolution process that uses a third party, called a mediator, to make recommendations for settling union-management differences
bringing in an impartial third party called an arbitrator to render a binding decision in the dispute
temporary work stoppage by employees until a dispute is settled or a contract signed
workers marching at a plan entranceto protest some management practice
effort to prevent people from purchasing a firms goods or services
management decision to bring pressure on union member by closing the firm
employers' association
cooperative effort of employers to present a unified fron in dealing with labor unions
alternate dispute resolution program
options for resolving grievances that include open-door policies, employment hotlines, peer review, councils, mediation, and arbitration
giving employees authority and responsibility to make decisions about their work without traditional managerial approval and control.
group of employees who are committed to a common purpose, approach, and set of performance goals.
cooperative effort by a group of workers acting together for a common cause.
work team
relatively permanent group of employees with complementary skills who perform the day-to-day work of organization.
problem-solving team
temporary combination of workers who gather to solve a specific problem and then disband.
team cohesiveness
extent to which team members feel attracted to the team and motivated to remain part of it.
team norm
informal standard of conduct shared by team memebers that guides their behavior.
antagonistic interaction in which one party attempts to thwart the intentions or goals of others.
meaningful exchange of information through messages.
skill of receiving a message and interpruting its entended meeting by grasping the facts and feelings it conveys.
internal information chanel that transmits information from unofficial sources.
internal communication
system that sends messages channels within an organization.
external communication
meaningful exchange of information through messages transmitted between an organization and its major audiences.
employee stock ownership plan (ESOP)
plan that benefits employees by giving them ownership stakes in the companies for which they work.
stock option
rights to be a specified amount of the company's stock at a given price within a given time period.
task specialist role
devoting time and energy to helping the team accomplish its specific goals.
socioemotional role
devoting time and energy to supporting the emotional needs of team members and to maintaining the team as a social unit.
formal communication channel
messages that flow within the chain of command defined by an organization.
informal comminucation channel
carries messages outside formally authorized channels within and organization's hierarchy.
nonverbal communication
transmission of messages through actions and behavior.
centralized communication network
exchange of messages through a single person to solve problems or make decisions.
decentralized communication network
system whereby people communicate freely with other team members and arrive at decisions and choose courses of action.
low-context culture
communication within a society that needs to rely on explicit written and verbal messages.
high-context culture
communication within a society that depends not only on the message itself but also on nonverbal cues, past and present experiences, and personal relationships betwee parties.
Application of resources such as people and machinery to convert materials into finished goods and services
Production and operations management
managing people and machinery in converting materials and resources in to finished goods and services
Assembly line
Manufactoring technique that carries the product on a conveyor system past serveral workstations where workers perform specialized tasks.
Reprogrammable machine capable of performing numerous tasks that require manipulation of materials and tools.
Computer-aided design (CAD)
System for interactions between a designer and a computer to design a product, facility, or part that meets predetermined specifications.
Computer-aided manufacturing(CAM)
Electronic tools to analyze CAD output and determine necessary steps to implement the design, followed by electronic transmission of instructions to guide the activites of production equipment.
Just-in-time (JIT) system
Management philosophy aimed at improving profits and return on investnebt by minimizing costs and eliminating waste through cutting inventory on hand.
Materials requirement planning (MRP)
Computer-based production planning system by which a firm can ensure that it has needed parts and materials available at the right time and place the correct amounts.
Development of timetables that specify how long each operation in the production process takes and when workers should perform it.
Identifying how leaders in certain fields perform and continually comparing and measuring performance against these outstanding performers.
Quality Control
Measuring goods and services against established quality standards.
International Organization for Standardization (ISO)
International organization whose mission is to promote the development of standardized products to facilitate trade and cooperatin across national borders.
Mass producion
System for manufacturing products in large amounts through effective combinations of specilized labor, mechanization, and standardization.
Flexible manufacturing system (FMS)
Facility that workers can quickly modify to manufacture different products.
Computer-intergrated manufacturing (CIM)
Productin system that integrates computer tools and human workers to design products, handle materials, and control production.
Environmental impact
Study that analyzes how a proposed plant would affect the quality of life in the surrounding area.
make, buy, or lease decision
Choosing whether to manufacture a needed product or component in house, purchase it form an outside supplier, or lease it.
Inventory control
Management effort to balance the prioity of limiting costs of holding stocks with that of meeting customers demand.
Perpetual inventory
System that continuously monitors the amounts and locations of a company's stocks.
Vendor-managed inventory
Company's decision to hand over their inventory control functions to suppliers.
Inventory planning and forecasting technique involving both purchasers and vendors.
Production control
Process that creates a well-defined set of procedures for coordinating people, materials, and machinery to provide maximum production efficiency.
Production planning
Phase of Production control that determines the amount of resources (including raw materials and othe components) a firm need sto produce a certain output.
Phase of prduction control that determines the sequence of work througout the facility and specifies who will perform each aspect of production at what location.
PERT (Program Evaluation and Review Technique)
Chart that seeks to minimize delays by cooridinating all aspects of the production process.
Critcal path
Sequence of operations that requires the longest time for completion.
Phase of productin control in which the manager instructs each department on what work to do and time allowed for its completion.
Phase of production control in which employees and their supervisors spot problems in the production process and determine needed adjustments
Process of planning and executing the conception, distribution, promotion, and pricing of goods, services, organizations, and events to create and maintain relationships that satisfy individual and organizational objectives.
Want-satisfying power of a good of service.
Marketing concept
Companywide consumer orientation to promote long-run success.
Customer satisfaction
ability of a good or service to meet a buyers needs and expectations
Target market
group of people toward whom and organization markets its goods, services, or ideas with a strategy designed to satisfy their specific needs and preferences
Marketing mix
blending the four elements of marketing strategy--product, distribution, promotion, and price--to satisfy chosen customer segments
Marketing research
collection and use of information to support marketing decision making
Data mining
computer search of massive amounts of customer data to detect patterns and relationships
Market segmentation
process of dividing a total market into several relatively homogeneous groups
Buyer behavior
series of decision processes by individual consumers who buy products for their own use and organizational buyers who purchase business products to be used directly or indirectly in the sale of other items
Consumer behavior
actions of ultimate comsumers directly involoved in obtaining, comsuming, and disposing of products and the decision processes that precede and followthese actions
Relationship marketing
developing and maintaing long-term, cost effective exchange relationships with individual customers, suppliers, employees, and other partners or mutual benefit
Exchange process
acctivity in which two or more parties give something of value to each other to satisfy precieved needs
Time utility
avalibility of a good or sevice when customers want to purchase it
Place utility
availability of a product in a location convenient to customers
Ownership utility
orderly transfer of goods and services from the seller to the buyer; also called posession utility
good or service that exceedes value expectations because the company has added features, lowered its price, enhanced customer service, or made other improvements that increase customer satisfaction
Person marketing
use of efforts designed to attract attention, intrest, and prefence of target market toward a person
Place marketing
attempt to attract people to a particular area, such as a city, state, or nation
Event marketing
marketing or sponsering short term events such as athletic competitions and cultural and charitable performances
Cause marketing
marketing that promotes or causes a social issue, such as the prevention of child abuse, antillerating efforts, and antismoking campaigns
Organization marketing
marketing strategy that influences consumers to accept the goals of, receive the services of, or contribute in come way to the organization
Comsumer(B2C) product
good or service , such as DVDs, shampoo, and dental care that is purchased by end users
good or service purchased to be used, either directly or indirectly, in the production of other godos for resale
Data warehouse
customer data base that allows managers to combine data from several different organizational functions
Geographical segmentation
dividing an overall market in to homogeneous groups on the basis of populationlocations
Demographic segmentation
dividing markets on the basis of various demographic or socioecomonic characteristics such as age, income, occupation, household size, stage in family life cycle, education, ethnic group, or gender
Psychographic segmentation
dividing customer markets into groups with similar psychological characteristics, values and liffestyles
Product-related segmentation
dividign a comsumer market in groups based on benefits sought by buyers and usage rates
End-use segmentation
market strategy that focuses on the precise way a B2B purchaser will use a product
Transaction marketing
marketing that is characteized by buyer and seller exchanges with limited communication and little ot no ongoing, reltionships between the parties
Lifetime value of a customer
revenue and intangible benefits (referals and customer feedback) from a customer over the of the relationship, minus the amount of the company must spend to acquire and serve that customer
Frequency marketing
market initiative that rewards frequent purchases with cash, rebates, merchandise, or other premiums
Affinity program
marketing effort sponered by an organization that solicites involvement by which individuals who share common intrest and activities
Co marketing
cooperative arrangement in which two businesses jointly market each others products
Co branding
cooperative arrangement in which two or more businesses team up to closely link their names on a single product
bundle of physical, serice, and symbolic attributes designed to enhance buyers want satisfaction
product line
group of related products that are physically similar or are intended for the same market
product mix
companies assortment of product lines and individual offerings
product life cycle
four basic stages--introduction, growth, matuarity, and decline--through which a succesful product progresses
name, term, sign, symbol, design, or some combination that identifies the products of a firm and differentiates them from competitors offerings
brand equity
added value that a widely respected, highly succcessful name gives to a product in the marketplace
distribution channel
path through which products-and legal and legal ownership of them-flow from producer to consumer of business user
physical distribution
actual movement of products from producer to consumer or business user
distribution channel member that sells primarily to retailers, other wholesellers, or business users
channel member that sells goods and services to individuals for their own use rather than resale
suppy chain
complete sequence of suppliers that contribute to creating and delivering a good or service to business users and fianl consumers
activities involved in controling the cost of goods, services, and information among members of the supply chain
convenience product
item the customer seeks to purchase immediately, frequently, and with little effort
shopping product
item typically puchased only after the buyer has compared competing products in competing stores
specialty product
item that a purchaser is willing to make a special effort to obtain
brand name
part of a brand consisting of words or letters that form a name that identifies and distinguishes an offering from those of competitors
brand with legal protection against another company's use, not only of the brand name but also of pictoral designs,slogans, packaging elements, and product features such as color and shape
manufacturer's (national) brand
brand offered and promoted by a manufacturer or producer; they are sometimes priced much higher than generic brands
private (store) brand
product that is not linked to the manufacturer, but instead carry the label of a retailer or wholesaler
family brand
brand name used to identify several different, but related products
individual branding
person who oversees an entire product line and assumes profit responsibility for the product group
category manager
path through which products-and legal and legal ownership of them-flow from producer to consumer of business user
distribution strategy
marketing channel that moves goods directly from producer to ultimate user
direct distribution channel
marketing channel that moves goods directly from producer to ultimate user
wheel of retailing
theory explaining changes in retailing as a process in which new retailers gain a competitive foothold by offering low prices and limited services and then add services and raise prices, creating opportunity for new low-price competitors
intensive distribution
distribution strategy that involves placing a firm's products in nearly every available outlet
selective distribution
distribution strategy involving limited marketing covered by a single retailer or wholesaler in a specific geographical teritory
exclusive distribution
distribution strategy involving limited marketing coverage by a single retailer of wholesaler in a specific geographical territory
vendor-managed inventory
company's decision to hand over their inventory control functions to suppliers
communication link between buyer and seller that performs the function of informing, persuading, and influencing a purchase decision.
integrated marketing communications
coordination of all promotional activities to produce a unified customer-focused message.
promotional mix
combination of personal and nonpersonal selling techniques designed tp achieve promotional objectives.
personal selling
interpersonal promtional process involving a seller's face-to-face presentation to a prospective buyer.
paid nonpersonal communication delivered through various media and designed to inform, persuade, or remind members of a particular audience.
sales promotion
nonpersonal marketing activities other than advertising, personal selling, and public relations that stimulate consumer purchasing and dealer effectiveness.
public relations
organization's communications relationships with its various audiences.
stimulation of demand for a good, service, idea, person, or organization by disseminating news or obtaining favorable unpaid media presentations.
exchange value of a good or service.
cost-based pricing
practice of adding a percentage of specific amounts to the base cost of a product to cover overhead costs and generate profits.
breakeven analysis
pricing technique used to determine the minimum sales volume a product must generate at a certain price level to cover all costs.
nonpersonal selling
promotion that includes advertising, sales promotion, direct marketing, and public relations all conducted without face-to-face contact with buyer.
concept in which marketers attempt to establish their own places in the minds of customers by communicating to prospective purchasers meaningful distinctions about the attributes, price, quality, or use of a good or service.
product placement
form of promotion in which marketers pay fees to have their products showcased in movies and television shows.
guerrrilla marketing
innovative, low-cost, marketing schemes to get consumers' attemtion in unusual ways.
product advertising
nonpersonal selling of a particular good or service.
institiutional advertising
promotion of concepts, ideas, philosophies, or goodwill for inustries, companies, organizations, or government entities.
advocacy(cause) advertising
form of institutional advertising that promotes a specific viewpoint on public issue as a way to influence public opinion and the legislative process.
providing forms for a sporting or cultural event in exchange for a direct association with the event.
form of broadcast direct marketing: 30-minute programs resemble regular TV programs, but they need are devoted to selling goods or services.
promotional product
promotional item that prominently displays a firm's name, logo, or business slogan.
trade promotion
sales promotion geared to marketing intermediates rather than to final consumers.
point-of-purchase advertising
displays or demonstrations that promote products when and where consumers buy them, such as in retail stores.
order processing
form of selling,mostly at the wholesale and retail levels, that involves indentifying customer needs, and pointing them out to customers, and completing orders.
creative selling
personal selling invovling situations in which a considerable degree of anaytical decision making on the buyer's part results in the need for skillful propasals of solutions for the customer's needs.
missionary selling
indirect selling which specialised sales people promote the firm's goodwill among customers. Often by assisting them in product use.
personal selling conducted entirely by telephone, which provides a firm's marketers with high return on their expedentures, an immediate response, and an opportunity for personalized two-way conversation.
relationship selling
regular contacts over an extended period to build and sustain a mutually beneficial buyer-seller relationship.
consultative selling
meeting customers' needs by listening to them, understanding them and caring abput their problems, paying attention to details, suggesting solutions and following through after the sale
team selling
selling situation in which several sales associates or other members of the organization work together with the lead sales representative in reaching all those who influence the purchasing decision
sales force automation
stramlining the sales process by incorporating a broad range of tools from e-mail, telecommunications devices like pagers and cell phones, and laptop computers to increasingly sophisticated software systems
pushing strategy
promotional effort by a seller to members of the distribution channel intended to stimulate personal selling of the good or service, thereby pushing it throught the channel
cooperative advertising
allowances provided by marketers in which they share the cost of local advertising of their firm's product or product line with channel partners
pulling strategy
promotinal effort by the seller to stimulate demand among final users, who will then exert pressure on the distribution channel to carry the good or service, pulling it through a distribution channel
exaggerated claims of a product's superiority or the use of subjective or vague statements that may not be literary true.
profitablility objectives
setting prices based on the amount of money the company brings in, minus its expenses, thus generating a profit.
volume objectives
basing price decisions on market share-the percentage of a market controlled by a certain company or product.
prestige pricing
establishing a relatively high price to develop and maintain an image of quality and exclusiveness.
skimming pricing
pricing strategy that sets intentionally high price relative to the prices of competing products.
penetration pricing
pricing strategy that sets a low price as a major marketing weapon.
everyday low pricing
pricing strategy devoted to maintaining continous low prices rather than relying on short-term price cutting tactic such as cents-off coupouns, rebates, and special sales
competitive pricing
pricing strategy that tries to reduce the emphasis on price competition by matching other firms' prices and concentrating their own marketing efforts on the product distribution, and promotional elements of the marketing mix
odd pricing
pricing method based on the belief that consumers favor uneven amounts or amounts that sound less than they really are.
management information system
organized method for providing past, present, and projected information on internal operations as well as external intelligence to support decision making.
chief information officer
executive responsible for directing firm's MIS abd related computer operations
centralized integrated collections of data resources.
decision support system
information system that quickly provides relevant data to help businesspeople make decisions and choose courses of action.
executie information system
system that allows top managers to access a firm's primary databases.
wireless network that connects various devices and allows them to communicate with one another through radio waves.
enterprise resource planning
information system that collects, processes, and provides information about an organization's various functions.
application service provider
specialist providing both the computers and the application support for managing information systems of business clients.
word processing
software that uses a computer to type, store retrieve, edit, and print various types of documents.
software package that creates the computerized equivalent of an accountant's worksheet, allowing the user to manipulate variables and see the impact of alternative decisions on operating results.
multimedia computing
technologies that integrate two or more types of media, such as text, voice, sound, video, graphics, and animation into computer-based applications.
software that combines information sharing through a common database with communication via e-mail so that employees can collaborate on projects.
a network that links employees and other authorized users through Internet tools like e-mail, hypertext links, and searches using Web browsers.
broadband technology
digital, fiberoptic, and wireless network technology that compresses data and transmits them at blinding speeds.
computer virus
program that secretly attaches itself to other computer programs or files and changes them or destroys data.
expert system
computer system that imitates human thinking through complicated sets of "if…then"rules.
local area network
computer networks that connect machines within limited areas, such as one building or several buildings near each other; allowing personal computers to share printers, documents, and information.
wide area network
computer networks that tie larger geographical regions together by using telephone lines and microwve and satellite transmission.
all the tangible elements of a computer system-that input devices, the machines that store and process data and perform required calculations, and the output devices that present the results to information users.
computer system containing the most extensive storage capacity and the fastest processing speeds.
powerful mainframe that can handle ectremely rapid, complex, calculations involving thousands of variables, most commonly in scientific research settings.
intermediate sized computer-- more compact and less expensive than a mainframe but also slower and with less memory
personal (desktop) computer
desktop computer used for business and personal use
notebook computer
computer that is small enough to slip in to a brief cas, yet more powerful than many desktop computers
computer that looks like a notebook computer but has a detachable screen, which users can write on with a special-purpose pen
handheld devices
small computerized devices that operate on rechargeable batteries and run common applications like word processing and database software, as well as store documents and graphics created ona desktop computer
operating system
software that controls the basic operations of a computer system
sets of instructions that tell the computer hardware what to do
desktop publishing
computer technology that allows users to design and produce attractively formatted printed material
presentation software
computer program that includes graphics and tools to produce a variety of charts, graphs, and pictures
electronic barrier between a companies internal network and the internet that limits access into and out of the network
the process of incoding data for security purposes; software that encodes, or scrambles, messages
disaster recovery planning
deciding how to prevent system failures and continue operations should computer systems fail