RSM: Introduction to Business Midterm

Mentor

An experienced employee who supervises, coaches, and guides lower-level employees by introducing them to the right people and generally being their organizational sponsor.

12. Empowerment

Giving frontline workers the responsibility and freedom to respond quickly to customer requests.

Enabling

Giving workers the education and tools they need to assume their new decision-making powers.

20. Fiscal Policy

Government efforts to keep the economy stable by increasing or decreasing taxes or government spending.

Marketing research

The analysis of markets to determine opportunities and challenges and to find the information needed to make good decisions.

Test marketing

The process of testing products among potential users.

Recruitment

The set of activities used to obtain a sufficient number of the right people at the right time.

Networking

Using communications technology and other means to link organizations and allow them to work together on common objectives.

Last in, first out (LIFO)

accounting method for calculating cost of inventory; it assumes that the last goods to come in are the first to go out

Publicity

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

Liquidity

how fast an asset can be converted into cash

Gross margin (gross profit)

how much a firm earned by buying (or making) and selling merchandise

Qualify

in the selling process, to make sure that people have a need for the product, the authority to buy, and the willingness to listen to a sales message

- Facility layout - The physical arrangement of resources (including people) in the production process.

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Chapter 8 - lectures week 38&39

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Chapter 9 - lectures week 38&39

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Different ways to departmentalize: by product, by function, by customer group, by geographic location and by process.

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Disadvantages: 1) There may be a lack of communication among the different departments. 2) Individual employees may begin to identify themselves with their department and its goals rather than the firm as a whole. 3) The company's response to external changes may be slow. 4) People may not be trained to take different managerial responsibilities. 5) People in the same department tend to think alike and may need external input to be creative.

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Leadership styles:

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Measuring customer satisfaction includes both internal and external customers satisfaction:

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Operation management functions:

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Strategies for reaching global market:

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Tasks and skills of managers:

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The Four types of planning:

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Ways to train and develop employees:

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15. Disinflation

A condition where price increases are slowing (the inflation rate is declining).

• Contract Manufacturing

A foreign country's production of private-label goods to which a domestic company then attaches its brand name or trademark, also known as outsourcing.

c. Oligopoly

A form of competition in which the market is dominated by just a few sellers.

14. Inflation

A general rise in the prices of goods and services over time.

Advertising

paid, non-personal communication through various media by organizations and individuals who are in some way identified in the advertising message

Prospects

people with the means to buy a product, the authority to buy, and the willingness to listen to a sales message

Business-to-business market (B2B)

All the individuals and organizations that want goods and services to use in producing other goods and services.

Consumer market

All the individuals or households that want goods and services for personal consumption.

- Facility location

the process of selecting a geographic location for a company's operations.

Chapter 11

week 40&41

Liabilities

what the business owes to others

15. Import quota

A limit on the number of products in certain categories that can be imported.

• Strategic Alliance

A long term partnership between two or more companies established to help each company build competitive market advantages.

3. Invisible Hand

A phrase coined by Adam Smith to describe the process that turns self - directed gain into social and economic benefits for all.

Green product

A product whose production, use and disposal don't damage the environment.

Just In Time (JIT)

A production process in which a minimum of inventory is kept on the premises and parts, supplies, and other needs are delivered just in time to go on the assembly line.

Continuous process

A production process in which long production runs turn out finished goods over time.

Intermittent process

A production process in which the production run is short and the machines are changed frequently to make different products.

18. Common Market

A regional group of countries that have a common external tariff, no internal tariffs, and a coordination of laws to facilitate exchanges.

Intranet

A set of communication links within one company that travel over the internet but are closed to public access.

18. Depression

A severe recession.

16. Deflation

A situation where prices are actually declining.

Focus group

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.

Operations management

A specialized area in management that converts or transforms resources into goods and services.

Job analysis

A study of what is done by employees who hold various job titles.

Job description

A summary of the objectives of a job, the type of work to be done, the responsibilities and duties, the working conditions and the relationship of the job to other functions.

Hierarchy

A system in which one person is at the top of the organization and there is a ranked sequential ordering from the top down of managers.

Visual Corporation

A temporary, networked organization made up of replaceable firms that join the network and leave is needed.

Marketing concept

A three part business philosophy: 1) a customer orientation, 2) a service orientation, 3) a profit orientation.

7. Trade deficit

An unfavorable balance of trade which occurs when the value of the country's imports exceeds that of its exports.

1. Business

Any activity that seeks profit by providing a product or a service.

Outsourcing

Assigning various functions, such as accounting and legal work, to outside organizations.

Gantt chart

Bar graph showing production managers what projects are being worked on and what stage they are in at any given time.

13. Countertrading

Bartering (the exchange of merchandise for merchandise or service for service) among several countries.

Competing in time

Being as fast or faster than competition in responding to consumer wants and needs and getting goods and services to them.

Fringe benefits

Benefits such as sick-leave pay, vacation pay and health plans that represent additional compensation to employee beyond base wages.

Managing diversity

Building systems and a climate that unite different people in a common pursuit without undermining their individual strengths.

2. Importing

Buying products from other countries.

Decision making

Choosing among two or more alternatives.

Process planning

Choosing the best means for turning resources into useful goods and services.

External customers

Dealers, who buy products to deal to others, and ultimate customers, who buy products for personal use.

Flexible manufacturing

Designing machines to do multiple tasks so that they can produce a variety of products.

One-to-one marketing

Developing a unique mix of goods and services for each individual customer.

Mass marketing

Developing products and promotions to please large groups of people.

Reverse discrimination

Discrimination against whites or males in hiring or promoting.

10. Free-market Economics

Economic systems in which decisions about what to produce and in what quantities are decided by the market.

12. Mixed Economies

Economic systems in which some allocation of resources is made by the market and some is made by the government.

11. Command Economies

Economic systems in which the government largely decides what goods and services will be produced, who will get them and how the economy will grow.

9. E-commerce

Electronic commerce; the buying and selling of products and services over the internet.

10. Database

Electronic storage files where information about customers is kept.

Staff personnel

Employees who perform functions that assist line personnel in achieving their goals.

Line personnel

Employees who perform functions that contribute directly to the primary goals of the organization.

Affirmative action

Employment activities designed to "right past wrongs" by increasing opportunities for minorities and women.

Stakeholder marketing

Establishing and maintaining mutually beneficial exchange relationships over time with all the stakeholders of the organizations.

Knowledge management

Finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm.

Cafeteria style fringe benefits

Fringe benefits plan that allows employees to choose the benefits they wants up to a certain dollar amount.

Customer relationship management (CRM)

Learning as much as possible about customers and doing everything you can to satisfy them or even delight them with goods and services.

Relationship marketing

Marketing whose goal is to keep individual customers over time by offering tem produces that exactly meet their requirements.

4. Standard of Living

The amount of goods and services people can buy with the money they have.

Goals

The broad, long term accomplishments an organization wishes to attain.

• Foreign Direct Investment

The buying of permanent property and businesses in foreign nations.

ISO 9000

The common name given to quality management and assurance standards.

a. Perfect competition

The market situation in which there are many sellers of nearly identical products and no seller is large enough to dictate the price of the product.

3. Free Trade

The movement of goods and services among nations without political or economic obstruction.

- Unemployment Rate

The number of civilians who are unemployed and tried to find a job within the prior four weeks.

Span of control

The optimum number of subordinates a manager supervises or should supervise. The span of control depends on: the capabilities of the manager, the capabilities of the subordinates and the complexity of the job.

Process manufacturing

The part of the production process that physically or chemically changes materials.

Total quality management (TQM)

The practice of striving for customer satisfaction by ensuring quality from all departments in an organization.

8. Market price

The price determined by supply and demand.

6. Supply

The quantity of products that manufacturers are willing to sell at different prices at a specific time.

7. Demand

The quantity of products that people are willing to buy at different prices at a specific time.

7. Factors of production

The resources used to create wealth: land, labor, capital, entrepreneurship and knowledge.

8. Return on Investment (ROI)

The return a businessperson gets on the money he and other owners invest in the firm.

Critical Path

The sequence of tasks that takes the longest time to complete.

Computer aided design (CAD)

The use of computers in the design of products.

Computer aided manufacturing (CAM)

The use of computers in the manufacturing of products.

- Job simulation

The use of equipment that duplicates job conditions and tasks that trainees can learn skills before attempting them on the job.

Form utility

The value added by the creation of finished goods and services.

11. Exchange Rates

The value of one currency relative to the currencies of other countries.

Core competencies

Those functions that the organization doesn't need to outsource and can do as well or better than any other organization in the world.

11. Stakeholders

Those people who stand to gain or lose by the policies and activities of an organization.

13. Telecommute

To work at home and keep in touch with the company through telecommunications.

- Vestibule training

Training done in schools where employees are taught on equipment similar to that used on the job.

- On-the-job training

Training program in which the employee immediately begins his or her tasks and learns by doing, or watches other for a while and then imitates them.

- Apprentice programs

Training program involving a period during which a learned works alongside an experienced employee to master the skills and procedures of a craft.

- Online training

Training programs in which employees "attend" classes via the internet.

Compressed workweek

Work schedule that allows an employee to work a full number of hours per week but in fewer days.

Flextime plan

Work schedule that gives employees some freedom to choose when to work, as long as they work the required number of hours.

Contingent workers

Workers who don't have the expectation of regular, full time employment.

Intranet

a companywide network, closed to public aceess, that uses internet-type technology

Budget

a financial plan that sets forth management's expectations for revenues and, based on those expectations, allocated the use of specific resources throughout the firm

Virtual private network (VPN)

a private data network that creates secure connections, or 'tunnels,' over regulare internet lines

Annual report

a yearly statement of the financial condition and progress of an organization

Virtualization

accessibility through technology that allows business to be conducted independent of location

Private accountants

accountants who work for a single firm, government agency, or nonprofit organization

Financial accounting:

accounting information and analyses prepared for people outside the organization

First in, first out (FIFO)

accounting method for calculating cost of inventory; it assumes that the first goods to come in are the first to go out

Managerial accounting:

accounting tused to provide information and analyses to managers within the organization to assist them in decision making

Intangible assets

items such as patents and copyrights that have no real physical form

Current assets

items that can be converted into cash within one year

Chapter 2

lectures week 36

Chapter 3

lectures week 36

Chapter 7

lectures week 38&39

Prospecting

researching potential buyers and choosing those most likely to buy

Shareware:

sofrtware that is copyrighted but distributed to potential customers free of charge

Public domain software (freeware)

software that is free for the taking

Knowledge technology (KT)

technology that adds a layer of intelligence to information technology, to filter appropriate information and deliver it when it is needed

Broadband technology

technology that delivers voice, video and data through the internet

Information technology (IT)

technology that helps companies change business by allowing them to use new methods

Information systems (IS)

technology that helps companies do business; includes such tools as automated teller machines (ATMs) and voice mail

Promotion mix

the combination of promotional tools an organization uses

Double-entry bookkeeping

the concept of writing every transaction in two places

Cash flow

the difference between cash coming in and cash going out of a business

Personal selling

the face-to-face presentation and promotion of products and services

Balance sheet

the financial statement that reports a firm's financial coniditon at a specific time

Pull strategy

promotional strategy in which heavy advertising and sales promotion efforts are directed toward consumers so that they'll request the products from retailers

Push strategy

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

Interactive promotion

changing the promotion process from a monologue, where sellers tried to persuade buyers to buy things, to a dialogue in which buyers and sellers can work together to create mutually beneficial exchange relationships

Chapter 1

lectures week 36

Internal customers

Individuals and units within the firm that receive services from other individuals or units.

9. Dumping

Selling products in a foreign country at lower prices than those charged in the producing country.

1. Exporting

Selling products to another country.

17. WTO

Set to meditate and end trade disputes between countries.

Objectives

Specific, short-term statements detailing how to achieve the goals.

Network computing system (client/server computing)

computer systems that allow personal computers (clients) to obtain needed information from huge databases in a central computer (the server)

Expenses

costs involved in operating a business, such as rent, utilities and solaries

ISO 14000

A collection of the best practices for managing an organization's impact on the environment.

• Foreign subsidiary

A company owned by a foreign country by another company.

16. Embargo

A complete ban on the import or export of a certain product.

Robot

A computer controlled machine capable of performing many tasks requiring the use of materials and tools.

Materials Requirement planning (MRP)

A computer-based production management system that uses sales forecasts to make sure that needed parts and materials are available at the right time and place.

Transparency

A concept that describes a company being so open to other companies working with it that all electronic information is shared as if he companies were one.

4. Comparative Advantage

A country should sell to other countries those products that it produces most efficiently.

3. Entrepreneur

A person who risks time and money to start and manage a business.

SWOT Analysis

An analysis of the organization strengths, weaknesses, opportunities, and threats.

• Joint Venture

- A partnership in which tow or more companies join to undertake a major project.

10.

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14. Trade Protectionism - The use of government regulations to limit the import of goods and services.

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Advantages: 1) employees can develop skills in depth. 2) The company can achieve economics of scale. 3) There's good coordination within the function.

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All organizations have two organizational systems:

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Chapter 13

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Chapter 16

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Chapter 17

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• Exporting

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Staffing

A management function that includes hiring, motivating, and retaining the best people available to accomplish business objectives.

d. Monopoly

A market in which there is only one seller.

Program evaluation and review technique (PERT)

A method for analyzing the tasks involved in completing a given project, estimating the time needed to complete each task, and identifying the minimum time needed to complete the total project.

6. Balance of trade

A nation's relationship of exports to imports.

Organization chart

A visual device which shows the relationship and divides the organization's work: it shows who is accountable for the completion of specific work and who reports to whom.

Brand name

A word, letter or group of words or letters that differentiates one seller's goods and services from those of competitors.

Job specifications

A written summary of the minimum qualifications required of workers to do a particular job.

Promotion

All the techniques sellers use to motivate people to buy products or services.

• Licensing

An act by which a producer allows a foreign company to produce its product in exchange for a fee.

• Franchising

An arrangement whereby someone with a good idea for a business sells the rights to use the business name and sell a product or service to others in a given territory. The franchisor is therefore a company that develops a product concept and sells others the rights to make and sell the products. The franchisee is the person who buys a franchise.

Job sharing

An arrangement whereby two part time employees share on full time job.

4. Capitalism

An economy system in which all or most of the factors of production and distribution are privately owned and operated for profit.

Performance appraisal

An evaluation in which the performance level of employees is measured against established standards to make decisions about promotions, compensation, additional training or firing.

Extranet

An extension of the internet that connects suppliers, customers, and other organizations via secured websites.

Matrix organization

An organization in which specialists from different parts of the organization are brought together to work on a specific projects but still remain part of a traditional line-staff structure.

Inverted organization

An organization that has contact people at the top of the hierarchy and the CEO at the bottom.

Line organization

An organization that has direct two-way lines of responsibility, authority and communication running from top to the bottom of the organization, with all people reporting to only one supervisor.

19. Multinational Corporation (MNC)

An organization that manufactures and markets products in many different countries and has multinational stock ownership and management.

6. Nonprofit organization

An organization whose goals don't include making a personal profit for its owners.

Bureaucracy

An organization with many layers of managers who set rules and regulations and oversee all decisions.

Mission statement

An outline of the fundamental purposes of an organization.

Enterprise Resource planning (ERP)

Computer-based production and operations system that links multiple firms into one integrated production unit.

- Participative (democratic) leadership

Consists of managers and employees working together to make decisions.

Continuous improvement

Constantly improving the way the organization does things so that customer needs can be better satisfied.

Empowerment

Giving employees the authority and responsibility to respond quickly to customer requests.

Cross-Functional team

Groups of employees from different departments who work together on a semiperminant basis.

Top management

Highest level of management which consists of the president and other key executives, who develop strategic planning.

Core time

In a flextime plan, the period when all employees are expected to be at their job stations.

Middle management

Includes general managers, division managers, and branch and plant managers, who are responsible for tactical planning.

16. Services

Intangible products such as health care and insurance.

- Human relations skills

Involve communication and motivation; they enable managers to work through and with people.

- Technical skills

Involve the ability to perform tasks in specific discipline or department.

- Conceptual skills

Involve the ability to picture the organization as a while and the relationship among its various departments.

- Autocratic leadership

Involves making managerial decisions without consulting others.

- Laissez Faire (free-rein) leadership

Involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives.

12. Devaluation

Lowering the value of a nation's currency relative to other currencies.

Supervisory management

Managers who are directly responsible for supervising workers.

Target marketing

Marketing directed toward those groups an organization decides it can serve profitably.

- Consumer Price Indexes (CPI)

Monthly statistics that measure changes in the prices of about 400 goods and services consumers buy. And Producer Price Indexes (PPI) - An index that measures prices at the wholesale level.

Competitive benchmarking

Rating an organization's practices, processes and products against world's best.

Mass customization

Tailoring products to meet the needs of individual customers.

Decentralized authority

Takes place when decision making authority is delegated to lower level managers and employees.

Centralized authority

Takes place when decision-making authority is maintained at the top level of management.

15. Goods

Tangible products.

Assembly process

That part of the production process that puts together components.

- Employee orientation

The activity that introduces new employees to the organization, to fellow employees, to their supervisors, and to the policies, practices and objectives of the firm.

2. Profit

The amount a business earns above and beyond what it spends for salaries and other expenses.

8. Balance of payments

The difference between money coming into a country and money leaving the country plus money flows from other factors such as tourism, foreign aid and foreign expenditure.

Departmentalization

The dividing of organizational functions into separate units.

Purchasing

The function in a firm that searches for quality material resources, finds the best suppliers, and negotiates the best price for goods and services.

Reengineering

The fundamental rethinking and radical redesign of organizational processes to achieve dramatic improvements in critical measures of performance.

5. Quality of Life

The general well-being of a society.

Marketing mix

The ingredients that go into a marketing program: price, promotion, place and product.

19. Monetary Policy

The management of the money supply and interest rates.

b. Monopolistic competition

The market situation in which there are a large number of sellers that produce similar products, but the products are perceived by buyers as different.

Marketing

The process of determining customer wants and needs and then providing customers with goods and services that meet or exceed their expectations.

- Strategic planning

The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.

- Tactical planning

The process of developing detailed, short-term decisions about what is to be done, who it to do it, and how it is to be done.

Market segmentation

The process of dividing the total market into several groups whose members have similar characteristics. Geographic - by area. Demographic - by age, income and education level. Psychographic - by values, attitudes and interests. Benefit - diving by determining which benefits of the product to talk about. Volume - by usage (volume of use).

Downsizing

The process of eliminating managerial and non-managerial positions.

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.

Human resource management

The process of evaluating human resource needs, finding people to fill those needs and getting the best work from each employee by providing the right incentives and job environment, all with the goal of meeting the objectives of the organization.

Niche marketing

The process of finding small but profitable market segments and designing custom-made products for them.

Selection

The process of gathering information and deciding who should be hired, under legal guidelines, for the best interests of the individual and the organization.

Environmental scanning

The process of identifying the factors that can affect marketing success. Include: global factors, technological factors, social factors, competitive factors and economic factors.

Mass production

The process of making a large number of a limited variety of products at a low cost.

Marketing management

The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create mutually beneficial exchanges.

- Contingency planning

The process of preparing alternative courses of action that may be used if the primary plans don't achieve the objectives of the organization.

- Operational planning

The process of setting work standards and schedules necessary to implement the tactical objectives.

Management development

The process of training and educating employees to become good managers and then monitoring the progress of their managerial skills over time.

Management

The process used to accomplish organizational goals through planning, organizing, leading and controlling people and other organizational resources.

Lean manufacturing

The production of goods using less of everything compared to mass production.

Economy of scale

The situation in which companies can produce goods more inexpensively if they can purchase raw materials in bulk; the average cost of goods goes down as production levels increase.

1) Formal organization

The structure that details lines of responsibility, authorities and position; that is, the structure shown on organization charts.

Organizational design

The structuring of workers so they can best accomplish the firm's goals.

1. Economics

The study of how society chooses to employ resources to produce goods and services and distribute them for consumption among various competing groups and individuals.

2. Resource development

The study of how to increase resources and to create the conditions that will make better use of those resources.

2) Informal organization

The system of relationships and lines of authority that develops spontaneously as employees meet and form power centers; that is, the human side of the organization that doesn't appear on any organization chart.

14. Productivity

The total output of goods and services in a given period of time divided by work hours.

- Gross Domestic Product (GDP)

The total value of goods and services produced in a country in a given year.

Computer integrated machinery

The uniting of CAM and CAD together.

- Off-the-job training

Training that occurs away from the workplace and consists of internal or external programs to develop any of a variety of skills or to foster personal development.

17. Recession

Two or more consecutive quarters of decline in the GDP.

5. Absolute Advantage

When a country has a monopoly on producing a product and is able to produce it more efficiently than all other countries.

Organizational culture

Widely shared values within an organization the provide coherence and cooperation to achieve common goals.

Certified management accountant

a professional accountant who has met certain educational and experience requirements and been certified by the Institute of Certified Management Accountants

Sampling

a promotional tool in which a company lets consumers have a small sample of a product for no charge

Word-of-mouth promotion

a promotional tool that involves people telling other people about products they've purchased

Consultative salesperson

a salesperson who begins by analyzing customer needs and then comes up with solutions to those needs

Ledger

a specialized accounting book in which information from accountring journals is accumulated into specific categories and posted so that managers can find all the information about one accountant in the same place

Trial balance

a summary of all the data in the account ledgers to show whether the figures are correct and balanced

Financial statement

a summary of all the transactions that have occurred overa particular period

Interactive marketing program

a system in which consumers can access company information on their own and supply information about themselves in an ongoing dialogue

Integrated marketing communication (IMC)

a technique that combines all the promotion tools into one comprehensive and unified promotional strategy

Infomercial

a tv program devoted exclusively to promoting goods and services

Tax accountant

an accountant trained in tax law and responsible for preparing tax returns or developing tax strategies

Certified internal auditor

an accountant who has a bachelor's degree and two years of experience in internal auditing, and who has passed an exam administered by the institute of Internal Auditors

Certified public accountant (CPA)

an accountant who passes a series of examinations established by the American Institute of Certified Public Accountants

Public accountant:

an accountant who provides his or her accounting services to individuals or businesses on a fee basis

Promotion

an attempt by marketers to inform people about products and to persuade them to participate in an exchange

Independent audit

an evaluation and unbiased opinion about the accuracy of a company's financial tatements

Fundamental accounting equation

assets = liabilities + owners' equity; this is the basis for the balance sheet

Owners' equity

assets minus liabilities

Fixed assets

assets that are relatively permanent, such as land, buildings, and equipment

Assets

economic resources owned by a firm

Statement of cash flow

financial statement that reports cash receipts and disbursement related to a firm's three major activities: operations, investment, and financing

Good program has three steps

listen to the public, change policies and procedures, inform people that you're being responsive to their needs

Data-processing (DP)

name for business technology in the 1970s; included technology that supported an existing business and was primarily used to improve the flow of financial information

Net income or net loss

revenue minus expense

Knowledge management

sharing, organizing and disseminating information in the simplest and most relevant way possible for the users of the information

Income statement

the financial statement that shows a firm's profit after cfosts, expenses, and taxes; it summarizes all of the resources that have come into the firm (revenue), all the resources that have left the firm and the resulting net income or loss

Auditing:

the job of reviewing and evaluationg the recors used to prepare a company's financial statements

Public relations (PR)

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

- Quality control

the measurement of products and services against set standards.

Internet 2

the new internet system that links government supercomputer centers anda select group of universities; it will run more than 22,000 times faster than today's public infrastructurwe and will support heavy-dutey applications

Sales promotion

the promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities

Accounting

the recording, classifying, summarizing, and interpreting of fincancial events and transactions to provide management and other interested parties the information they need to make good decisions

Depreciation

the systematic write-off of the cost of a tangible asset over its estimated useful life

Viral marketing

the term now used to describe everything from paying people to say positive things on the internet to setting up multilevel selling schemes whereby consumers get commissions for directing friends to specific websites

Revenue

the value of what is received for goods sold, services rendered, and other financial sources

Closing techniques

ways of concluding a sale including getting a series of small commitments and then asking for the order and showing the client where to sign

Push technology

web software that delivers information tailored to a previously defined user profile; it pushes the information to users so that they don't have to pull it out