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50 Cards in this Set
- Front
- Back
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HR Challenges |
shortage of trained workers
increase of babyboomers
increasing need of flex time
increased families
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human resource inventory |
ages, names, education, capabilities, training, skills. Reveals if labor force is up to date and well trained |
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Recruitment |
internal: hired from within (promotions, transfers) or even recommendation from employees
external: ads, employment agencies, referrals, walk-ins, |
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Selection |
getting application forms, intial/follow up interviews, employment tests, background investigations, results from physicals, establishing trial period of employment |
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management development |
training/educating employees to become good managers and then monitoring the progress of their managerial skills over time. |
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networking |
The process of establishing and maintaining contacts with key managers in one's own organization and other organizations and using those contacts to weave strong relationships that serve as informal development systems. |
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on-the-job training |
Training at the workplace that lets the employee learn by doing or by watching others for a while and then imitating them. |
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Steps in performance analysis |
establish performance standards, tell them, compare performance standards, discuss results, take corrective action if needed, use results as needed |
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fringe benefits |
Benefits such as sick-leave pay, vacation pay, pension plans, and health plans that represent additional compensation to employees beyond base wages. |
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flextime plan |
Work schedule that gives employees some freedom to choose when to work, as long as they work the required number of hours. |
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Knights of Labor |
craft union of skilled specialists in 1792 which lead to the KOL in 1869 |
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American Federation of Labor |
formed in 1886 was an organization of craft unions |
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Congress of Industrial Organizations |
group of unskilled/semi skilled workers that broke off from the AFL in 1935. Both merged in 1955 |
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Changes after the Taft Hartley Act |
unions can legally use -primary boycotts but cannot use secondary. Gave more power to management |
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FSLA |
Fair Labor Standards Act (FLSA) establishes minimum wage, overtime pay, recordkeeping, and youth employment standards affecting full-time and part-time workers in the private sector and in Federal, State, and local governments. |
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injunction |
A court order directing someone to do something or to refrain from doing something. |
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Union Tactics |
strikes, primary boycotts, secondary boycotts, |
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Future of Unions |
declining membership, they must adapt to the workplace |
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Production Marketing Era |
produce as much as you can because there is a limitless market for it (farming, oil, model Ts) |
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Selling Era |
1920s had mass production. production capacity> demand. |
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Marketing Concept Era |
After WWII (baby boomer era), find out what customer wants/provide it for them, customer satisfaction is key, focus on what is profitable |
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Customer Relationship Era |
1990s-2000s. Learning as much about your customers and satisfy or exceed their expectations |
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Marketing Mix |
product, price, place, promotion |
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Steps in Marketing Research |
define the problem, collect data, analyze data, choose the best solution |
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geographic segmentation |
dividing the market into different parts due to regions |
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demographic segmentation |
age, income, education level |
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pyschographic segmentation |
values, attitudes, interests |
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benefit segmentation |
what benefits customers prefer |
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volume segmentation |
seperating market by usage |
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total product offer |
everything consumer evaluate when deciding whether to buy something |
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product line |
A group of products that are physically similar or are intended for a similar market. |
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product mix |
The combination of product lines offered by a manufacturer. |
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industrial goods |
Products used in the production of other products. Sometimes called business goods or B2B goods. |
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product differentiation |
The creation of real or perceived product differences. |
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convience goods |
minimum shopping required (ex candy bar) |
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shopping goods |
people search and compare price and quality |
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speciality goods |
consumers go out of the their way to get and demand specific brands |
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unsought goods |
products that consumers aren't aware of, haven't thought of buying or needed to solve an unexpected problem |
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packaging |
attract people's attention, protect, easy to open/use, describe benefits of goods along with warnings, indicate price, value, uses |
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brand association |
The linking of a brand to other favorable images. |
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break even point |
revenue = costs |
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Channel of distribution |
intermediaries, wholesalers, retailers, that transport and store goods from producers to consumers
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merchant wholesaler |
Independently owned firms that take title to the goods they handle. |
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cash and carry wholesalers |
Wholesalers that serve mostly smaller retailers with a limited assortment of products. |
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Intensive distribution |
putting products in as many places as possible |
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selective distribution |
choosing only a few stores in a chosen market |
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exclusive distribution |
using only one store in each market area |
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direct marketing |
any activity that directly links manufacturers or intermediaries with the ultimate consumer. |
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logistics |
The marketing activity that involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit. |
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intermodal shipping |
The use of multiple modes of transportation to complete a single long-distance movement of freight. |
