comp exam
is the use of positive consequences to strengthen a particular behavior.
Positive reinforcement
is the ability to marshal human, informational, and other resources to get something done.
Power
A majority of the voters would favor the park, 2-to-1
Refer to the above table, which shows the ranked preferences of voters for three alternative projects, with "1" being the top preference. In a paired-choice vote between a stadium and a park:
is a foreign subsidiary that the owning organization has built from scratch.
A greenfield venture
Buy products and sell resources
In the circular flow model of the market system, households:
An increase in cost between two alternatives.
Incremental cost
GDP
C+I+G+(x-m)
is the activity of inferring causes for observed behavior
Causal attribution
Variable cost is equal to (high low method )
Change in cost / change in activity
the main motivator of performance, includes pay for performance, bonuses, profit sharing, gainsharing, stock options, and pay for knowledge.
Compensation,
• . How dependable, responsible, achievement-oriented, and persistent one is.
Conscientiousness
Incorporates the sets of values ideas and attitudes that are learned and shared among members of a group
Culture
is the process of assigning someone to play the role of critic
Devil's advocacy
_______encompasses all the resource planning for the enterprise they help companies become leaner and more agile by integrating the basic transaction programs for all departments allowing quick access to timely information
ERP
is the peantu butter of engalnd
Marment
Use this color if you want to communicate is friendly confidence
Orange
is the process of interpreting and understanding one's environment.
Perception
First the obligations that organizations have one too preservation of the ecological environment into To the general public the emphasis is placed on the triple bottom line people, the planet, profit simultaneously
Social responsibility
Means that organizations are part of larger society and they're accountable to Society for their actions
Social responsibility
Is opposite of buyer power
Supplier power
• operates automatically and quickly; it is our fast, automatic, intuitive, and largely unconscious mode, as when we detect hostility in a voice or detect that one object is more distant than another.
System 1—intuitive and largely unconscious:
Is a tool used you use to send information to and receive it from another person or computer in a network
The Telecommunications device
regards the organization as a system of interrelated parts.
The systems viewpoint
is make a lot of the product and bliz the market with them
Tornado startgey
Are the principal and standards that guide her behavior toward other people
ethics
Product costs are initially assigned to an inventory account on the balance sheet. When the goods are sold, the costs are released from inventory as
expenses
Two tornado , bollwing ally are ways to
corss the casam
The third digit in NAICS
designates a subsector
Which are criteria or stnaders used in evaluating proposed soultions to the problem
measures of success
contains both variable and fixed cost elements
mixed cost
Is the energizing force that simulates behavior to satisfy A need
motivation
In Asia, the Middle East, and Latin America, it's important to understand
organizational hierarchy, as represented by professional titles and age
How we think others see us
others self-concept
The primary focus of supply chain management maybe described in terms
overall cost leadership, running the organization
Tariff -Quota - Boycot - Exchnage control - Trade Agreement
government actions
s—regulatory agencies that establish ground rules under which organizations may operate
government regulator
Use this color if you want to communicate Balance
granny
Use this color if you want to communicate Peaceful Health
green
The total amount of money made in one year by a person household or family unit is referred to as
gross income
Mcdonals - black people wanted _____filling Haspic wanted
harty , hertige ,
Organizations that develop similar offerings create an
industry
Soft drink segmentation Cherry Coke
kids
is educating professionals and managers in the skills they need to do their jobs in the future.
Development
Economic Entity Assumption
Every Economic entity can be separately identified and accounted for.
Represents the anxiety felts because the consumer cannot anticipate the outcomes of a purchase but believes there may be negative consequences
perceived risk
• Firms can make adjustments to an existing product or change the price to meet the unique needs of a particular country market. This is called
pricing
There are 2 methods for market research
primary and secondary data
, which includes quality control, quality assurance, and total quality management,
quality-management viewpoint
Conclusive research
quantitative
franchising is used more frequently by
service companies.
First a person's ability to perceived differences and stimuli
stimulus discrimination
3 beaches of government
Executive, legislative , judicial
is power resulting from one's specialized information or expertise.
Expert power
reflects attitudes or beliefs endorsed at a conscious level
Explicit bias
Means that you see or hear images without being aware of them
subliminal perception
raw materials refer to any materials that are used in
the final product
Is the information credible
validity
Patek Philippe was a high class
watch
which rates employee gradations in performance according to scales of specific behaviors.
(BARS),
Credits ( Normal Balance )
For Liabilites Decrease assets increase liabilities
Are physical objects such as toothpaste cameras or computers that satisfy the consumers needs
Goods
Are the federal state and local agencies that buy products and services for the constituents they serve
Government units
Marketing efforts wrote, produce, and recliam environmental sensitive products
Green marketing
Depreciation is
Gross Investment-Net investment
what kind of salary do people make
Gross national income
In studying todays visionary organizations it is important to recognize
1. the kind of organizations that exist 2. what strategy is and 3. how this strategy relates to the three levels of structure found in many organizations
reflects the combination of how an individual perceives and responds to information.
A decision-making style
Appeals courts
Have the right to review decisions of trial courts.
A measure of whatever causes the incurrence of a variable cost. For example, the total cost of X-ray film in a hospital will increase as the number of X-rays taken increases. Therefore, the number of X-rays is the activity base that explains the total cost of X-ray film
Activity base
What can the judical branch do
Adjudicating Case Judicial Review
is concerned with managing the total organization. Among the pioneering theorists were Henri Fayol and Max Weber.
Administrative management
, a manager decides to take no action in the belief that there will be no great negative consequences.
In relaxed avoidance
focuses on achieving equality of opportunity within an organization.
Affirmative action
• . How trusting, good-natured, cooperative, and soft-hearted one is.
Agreeableness
Justifcations of cheating
Cheating provides useful shortcuts Cheating arises out of resentment. Cheating seeks to redress perceived unfairness Cheating is to avoid feeling like a chump.
Two broad categories of laws.
Civil Criminal
Different burdens of proff
Civil - something has most likely happened Criminal- beyond a reasonable doubt
Involves making connections between two or more ideas or simply observing the outcomes of others behaviors and adjusting your own accordingly
Cognitive learning
is the act of sharing information and coordinating efforts to achieve a collective outcome.
Collaboration
The relative proportion of fixed, variable, and mixed costs in an organization
Cost structure
are those employee behaviors that are not directly part of employees' job descriptions—that exceed their work-role requirements.
Organizational citizenship behaviors
reflects the extent to which an employee identifies with an organization and is committed to its goals.
Organizational commitment
If you don't sell all the seats in an airplane you cant get that money back from that Airlines run optimztions to fiugure out what is the best way we can get the plane full. This is an example of
Perishable
Affirmed
Permitted to stand
measure such personality traits as adjustment, energy, sociability, independence, and need for achievement.
Personality tests
Ligation process
Pleadings Counter claims the reply Complaint -statement of facts that the plaintiff makes agisnt a defendant
are changes in the way politics shape laws and laws shape the opportunities for and threats to an organization.
Political-legal forces
Monetary unit assumption
Include in the accounting record only those things that can be expressed in terms of money.
A variable that acts as a causal factor; activity is _______________ the as represented by the letter X,in the equation Y =a + bX
Independent variable
is management that oversees the conduct of operations in or with organizations in foreign countries, whether it's through a multinational corporation or a multinational organization.
International management
Expenditures and survivors are most likely to visit
Internet chat rooms
Judicial
Interpret the law Adjucate cases
Powers of Congress
Interstate Commerce Substantial Effect Rule State Legislative Power Supremacy Clause
—satisfaction in performing the task itself.
Intrinsic rewards
What are External users
Investors Credtiors
What are the requirments for Segment attrctiveness
Is this segment idefndiable is it a know market and can you find them The segment needs to be substantial They have to be reachable They have to be resposive They have to be profitable and loss requirments
is the activity for creating communicating delivering and exchanging offers at that benefit its customers the organization its its stockholders and society at large.
Marketing
Is the idea that organization should one, strive to satisfy the needs of consumers 2. while also trying to achieve the organizations goals
Marketing concept
Is the visual computer display of the essential information related to a marketing objective
Marketing dashboard
Which is a measure of the quantitative value or trends of the marketing activity or results
Marketing metric
And information and communications based electronically strange environment mostly occupied by sophisticated computer and telecommunication technologies and digitized offerings
Marketplace
, is the sense of "belonging to and serving something that you believe is bigger than the self
Meaningfulness,
Earnings per Share
Measures the net income earned on each share of common stock and is computed by deciding net income available to common stockholders by the average number of common shares outstanding during the year.
Debt to total assets ratio
Measures the percentage of assets financed by credtiors. The higher the percentage of debt financing the riskier the business Computed by dividing total debt ( both current and ling term liabilities) by total assets.
Is one to which personally actually belongs including fraternities and sororities social clubs in the family
Membership group
typically have a large amount of discretionary income is couples buy better home furnishings status automobiles and financial services
Middle-age couples without children
Are typically better off financially than their younger counterparts they are a significant market for leisure products and home-improvement items
Middle-aged married couples with children
The ______system identifies the consumer sentiment space on one of their primary motivation for buying and having certain products 2. their resources
Vals
reflects the extent to which a person focuses on either task and technical concerns or people and social concerns when making decisions.
Value orientation
are abstract ideals that guide one's thinking and behavior across all situations
Values
are abstract ideals—global beliefs and feelings—that are directed toward all objects, people, or events=
Values
are the relatively permanent and deeply held underlying beliefs and attitudes that help determine a person's behavior
Values
informal aspects?
Values. Attitudes. Personalities. Perceptions. Conflicts. Culture.
A cost that varies, in total, in direct proportion to changes in the level of activity. A ________ is constant per unit
Variable cost
The amount it cost to acquire/produce one unit that you will eventually sell to your customers
Variable cost
is defined as "employees' upward expression of challenging but constructive opinions, concerns, or ideas on work-related issues to their managers."61
Voice
______ rules are very bad
WTO
Terrisa may prime minster of UK says to EU if you don't give us a good deal we will go back to
WTO Rules
Is a need that is shaped by persons knowledge cultural personality
Wants
a situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal
ethical dilemma,
, a transitory collection of people who don't interact with one another
a crowd
when the debit exceeds the credits an account has
a debit balance
Scanners gather
a lot of data
How we view ourselves
actual self-concept
Innovators, thinkers, and the achievers tend to read
business and news magazines such as fortune and time
, a manager can't find a good solution and follows by (a) procrastinating, (b) passing the buck, or (c) denying the risk of any negative consequences
defensive avoidance
Women used a more
democratic or participative style than men, and men used a more autocratic and directive style
Describing the population according to characteristics such as each gender and ethnicity income and occupation is referred to as
demographics
Industry dick demands is
derived
The first two digits in NAICS
designate a sector of the economy
The fifth digit in NAICS
designates a specific industry and his most detailed level at which comparable that are are available
is the process of having two people or groups play opposing roles in a debate in order to better understand a proposal.
dialectic method
, in which more efficient workers earned higher wages.
differential rate system
The primary focus of customer relationship management is
differentiation and focus, growing the organization
Raw materials may include both
direct and indirect
Which present which represent both the objective such as such is a display attributes of a brand and a subjective ones such as prestige you used to compare different products and brands
evaluative criteria
—the translation of principles based on best evidence into organizational practice, bringing rationality to the decision-making process, as we defined it in
evidence-based management
An organization that you know something about
evoked set
suggests that people are motivated by two things: (1) how much they want something and (2) how likely they think they are to get it.
expectancy theory
The _______environment consists of economic, technological, sociocultural, demographic, political-legal, and international forces.
general
People with this style are action oriented and decisive and like to focus on facts. In their pursuit of speed and results, however, these individuals tend to be autocratic, to exercise power and control, and to focus on the short run.
directive style
are groups whose members try to influence specific issues
Special-interest groups
is the tendency to remember recent information better than earlier information.
The recency effect
Sovereign
The recognized political power, who citizens obey.
involves asking each applicant the same questions and comparing their responses to a standardized set of answers.
The structured interview
Economically inefficient outcomes caused by voting problems or incentive structures in government
The term government failure refers to the:
Could I give a clear explanation for the action
The transparency test
There are two good reasons for having objective appraisals:
They measure results, They are harder to challenge legally.
14th amendment equal
This clause means that states must apply the law equally and cannot discriminate against people or groups of people arbitrarily.
Means having it available when needed
Time utility
what are Financing activities
To start or expand a business the owner or owners need cash from outside sources Borrowing form creditors Selling shares of stock to investors
Types of courts
Trail Applet courts Case courts
are ratings of such subjective attributes as "attitude," "initiative," and "leadership."
Trait appraisals
you have to get your product to the end user.
Trasportion
is defined as reciprocal faith in others' intentions and behaviors
Trust
occurs when an employee abandons, resigns, retires, or is terminated
Turnover
_______are the people in the organization who actually use the product or service such as the secretary who Will actually use the new wordprocessors
Users
Roles in the buying center
Users , Influencers , Buyers , deciders , Gatekeepers
The benefits or customer value received by users of the product
Utility
Help people with in the organization in regard to the marketing campaign lifecycle what type of media that target audiences want to identify target audiences create campaign budgets and deliver marketing campaign assets
marketing campaign management
Surverys have to be deigned by a
marketing expert
Step four implement
marketing mix
Is the process of defining a marketing problem and opportunity systematically collecting and analyzing information and recommending action
marketing research
Is the means by which a marketing goals to be achieved usually characters characterized by the specified target market and a marketing program to reach it
marketing strategy
Our detailed day day today operational discussions essential to overall success of marketing strategies writing ads in setting prices for new product lines are examples of
marketing tactics
Every organization
markets
Astrula / newzellend/ mexico are In the Hofstede model -
masculine
According to the job characteristics model, these five core characteristics affect a worker's motivation because they affect three critical psychological states:
meaningfulness of work, responsibility for results, and knowledge of results.
A flaw in the classical viewpoint is that it is __________: It tends to view humans as cogs within a machine, not taking into account the importance of human needs. Behavioral theory addressed this problem, as we explain next.
mechanistic
dissent that occurs when a minority in a group publicly opposes the beliefs, attitudes, ideas, procedures, or policies assumed by the majority of the group
minority dissent,
A statement of the organizations function in society that often identifies its customers markets products and technologies
mission
as expressed in the desire to dominate others, and involves manipulating people for one's own gratification.
personal power,(negtive )
Their strategic marketing process is divided into three phases
planning implementation evaluation
Is the reason for engaging in the decision
purchase task
Applies quantitatvie techniques to management
quantitatvie view point 1940's -1950s
Vouldiner
question of wether someone can be in a jury .
type, the person to whom the unwanted sexual attention is directed is put in the position of jeopardizing being hired for a job or obtaining job benefits or opportunities unless he or she implicitly or explicitly acquiesces
quid pro quo harassment
Is a restriction placed on the amount of product allowed to enter or leave a country this limits supply
quota
IBM has the biggest
r and d department
Real GDP
rGDP=nominal GDP/Price Index
Any materials that go into the final product.
raw materials
Believers are the heaviest readers of
readers digest
During a ______period spending, Debt, and use of credit all decline
recessionary
The oreal cookie pakage changes and small tastes chnages per
region
Civil Law
regulates the rights and duties between parties.
organizations contract with independent workers—usually through their smartphones—for short-term engagements, and the burden of providing workers' compensation, health insurance, and the like falls on the workers themselves rather than on the employer.
gig economy,
Auditors report
gives an unqualified opinion meaning the auditor has no reservations concerning the material validity of the presented information if the finical statements present the financial position results of operations and cash flows in accordance with accepeted accounting standards
The _______refers to the increasing tendency of the economies of the world to interact with one another as one market instead of many national markets
global economy
The _______ refers to the "shrinking" of time and space as air travel and the electronic media have made it easier for the people around the globe to communicate with one another.
global village
A person who scores well on the Big Five dimension of conscientiousness is probably a
good worker.
exchange, coalition, pressure, and legitimating tactics, which are "_____" tactics because they exert more overt pressure.
hard
Followers vary, of course, in their level of compliance with a leader, with_____________ (most compliant)
helpers
Balance Sheet
shows relationship between assets, liabilities , and stockholders equity at a particular date.
Statment of cash flows -
shows sources of cash during a period of time and how the cash was used — Reports the cash effects of a compays operations for a period of time — Shows cash increases and decreases form investing and financing activities — Indicates increase or decrease i cash balance as well as ending cash balance
Three steps in the planning phase of strategic marketing process is
situation analysis ( Swot analysis) 2. market product focused and goal setting and 3. the marketing program
38. How effective a particular leadership behavior is depends on the
situation at hand
the interviewer focuses on hypothetical situations.
situational interview,
The five core job characteristics are
skill variety, task identity, task significance, autonomy, and feedback, as follows.
—such as improving interpersonal relations or the use of new tools—then techniques such as discussion, role-playing, and practice work better.
skills
The environmental forces are largely uncontrollable in a marketing decision those involving
social economic technological competitive and regulatory forces
The_of the environment including the demographic characteristics and the culture of the population Changes in these forces can have a dramatic impact of marketing strategy
social forces
Including others present when a purchase decision is made
social surroundings
Segmentation is
splitting your target into groups
Marketers used two concepts for behavioral learning theory
stimulus generalization, stimulus discrimination
, certain employees are given the right to buy stock at a future date for a discounted price
stock options
if you've bought a few shares of stock in a company whose shares are listed for sale on the New York Stock Exchange, such as General Motors, you're one of thousands of owners—you're a
stockholder
Purchase decision when to buy
store atmosphere , time pressure , pleasantness of the shopping experience
, is characterized by the emergence of individual personalities and roles and conflicts within the group
storming
Cost behavior is considered linear whenever a is a _______________reasonable approximation for the relation between cost and activity.
straight line
the source of stress is called a
stressor.
Attempts to describe something that is unknown
subjective information
When a buyer and seller adopt mutually beneficial objectives policies, procedures for the purpose of lowering the cost or Increasing the value of products and services delivered to ultimate customer
supply partnership
Purchase decision form whome to buy such as
terms of sale , past experience buyer from the seller , return policy
Followers vary, of course, in their level of compliance with a leader, with_______________ (most compliant) showing deference to their leaders, __________________(less compliant) distancing themselves, and___________ (least compliant) showing divergence.121
helpers independents rebels
—strategies that simplify the process of making decisions.
heuristics (pronounced "hyur-ris-tiks")
Characteristics of a compatibility
is built around a tight business focus closely linked to companies vision and values, is essential for value creation. Is corporate property, is broadly based across the value chain.
equity
is the difference between the value of the assets and the cost of the liabilities of something owned
Revenue
is the increase in assets resulting form the sale of a product or service in the normal course of business
________ for the coke got so popular it turned into the number one hit perade Marketers what the ________ to be stuck in your head
jingle
is to determine, by observation and analysis, the basic elements of a job.
job analysis
which summarizes what the holder of the job does and how and why he or she does it
job description,
consists of increasing the number of tasks in a job to increase variety and motivation.
job enlargement
consists of building into a job such motivating factors as responsibility, achievement, recognition, stimulating work, and advancement.
job enrichment
Cost and price
keeping the cost of purchase parts and prices of products at acceptable levels
tends to suggest that a person has been dismissed temporarily
laid off
, a form of "leadership" characterized by a general failure to take responsibility for leading.
laissez-faire leadership
Cary Sugegsts that cheating starts with small infractions and turns into
larger ones
There are three dimensions of situational control:
leader-member relations, task structure, and position power
focus on influencing others. , inspire others, provide emotional support, and try to get employees to rally around a common goal. , also play a key role in creating a vision and strategic plan for an organization.
leaders
37. There is no one best style of
leadership.
A pattern of consumption reflecting a person's choices of how he or she spends time and money
lifestyle
As a mode of living that Is identified by how people spend their time resources has proven useful and segmenting and targeting consumers for new and existing products and services
lifestyle
Self definitions of group members
lifestyles as group identities
What does MRO stand for
maintenance, repair , operations
which can encourage employees to feel empowered to adopt behavior that will produce specific results.
management by objectives (MBO),
Buy raw materials and parts that they reprocess into finished products they sell
manufacturers
licensing is used by
manufacturing companies
All manufacturing costs except direct materials and direct labor
manufacturing overhead
Only those costs associated with operating the factory are included in
manufacturing overhead.
—manufacturing plants allowed to operate in Mexico with special privileges in return for employing Mexican citizens
maquiladoras
Goods services and ideas are
market
Is a marketing strategy to sell current products to new markets
market development
Is a marketing strategy to increase sales of current products in current markets
market penetration
Manufacturers found they could produce more goods and buyers could consume competition group firms hiring more salespeople to find new buyers
the sales era from 1920s to 1960s
employees are considered "_________
the talent "—the most important resource.
Exclusive distribution
there is only one very high end such as tiffany
Is high when there are many alternatives to a product or service and well when there are a few alternatives from which to choose
threat of substitute products or services
Asia is less In the Hofstede model
time perspective
Long term prespective planning for future , perserverance values vs short time past and present oriented this is called in Hofstede's cultural dimensions
time perspective
Organizations buy products and services for one main reason
to help them achieve their objectives such as profits or for nonprofit groups to help the people they serve
Nonprofit organizations also have goals such as
to serve customers as efficiently as possible or seek to serve the public good
the use of government regulations to limit the import of goods and services
trade protectionism—
GDP is
C+I+G+(x-m)
Appellee
The party opposing the appeal.
Today's organizations can be divided into
business firms and nonprofit organizations
In a decision are the restrictions placed on potential solutions to problem
constraints
When the top guy will make the descion but they will consult with the other
consultative
marketing mix, psychological factors, situational factors, social factors influencing the_____________ decision process
consumer
Reactions a person takes purchasing and using products and services including the mental and social processes become for an after action
consumer behavior
The size of the purchase involved in organizational buying is typically much larger than that in
consumer buying
In which there are many sellers and they each have a similar products
Pure competition
Compensation has three parts:
(1) wages or salaries, (2) incentives, and (3) benefits
1. - Often Captures the central theme
Brandname
is a state of emotional, mental, and even physical exhaustion,
Burnout
refers to the total ability of a product or service to meet customer needs.
Quality
is defined as the strategy for minimizing errors by managing each stage of production.
Quality control
Is a temporary holding area
RAM or random access memory
- Marlboro first started as a brand for women and it failed so then they directed it to men
Re - branding
c
Refer to the data. Disposable income is: A. $83. B. $73. C. $75. D. $77.
Step 1 in STP is
SWOT Analysis
involved self-preservation as well as physical and financial well-being
Safety needs
How much was the net operating income?
Sales ($430,000) - Cost of goods manufactured ($239,000) + The increase in finished goods ($17,500) - Selling and administrative expenses ($80,000).
Automatically track all the steps in the sales process
Sales force automation systems
- what are the most important attrbutes
Salient attributes
Solvency
The ability of the enterprise to survive over the long term
Liquidity
The ability to pay short term obligations as they come due. Working capital measure of short term ability to pay obligations Excess of current assets over current liabilities. Positive working capital indicates the likelihood of paying liabilities is favorable Short Term creditors such as bankers and suppliers are most interested in a company liquidity ratios
What I want the person I admire most to seeing you doing this
The admired observer test
of an attitude consists of the feelings or emotions one has about a situation.
The affective component
like education insurance
intangible dominant
you believe you control your own destiny.
internal locus of control,
Swot Analysis means
internal strength weakness and it's external opportunities and threats
-Ratio analysis
- Express the relationship among selected items
Cost Principle Assumption
Dictates that assets be recorded at their cost
Major Trading Blocs:
NAFTA and the EU
will lead you to buy certin product or certin life style
Self conecpot
The traditional model is
buy , hold , sell
All information but form memory
external information
is a written description of the product
Concept
dule income no kids more kinds
Dinks
Red stands for
power
A well designed supply chain management system helps your organization by optimizing these supply chain activities
Fulfillment, Logistics , Production , Revenue and profit , Cost and price
As a model for making decisions, intuition has at least two benefits
. (1) It can speed up decision making, useful when deadlines are tight.58 (2) It can be helpful to managers when resources are limited.
relies on scientific research for developing theories about human behavior that can be used to provide practical tools for managers.
. Behavioral science
is employees' belief that they have control over their work.
. Psychological empowerment
is a choice made from among available alternatives.
A decision
Division of labor
A production system where various workers concentrate on different specialized tasks to contribute towards a whole product is referred to as:
Can't be provided to one person without making it available to others as well
A public good:
includes not only data in corporate databases but also web-browsing data trails, social network communications, sensor data, and surveillance data.
Big Data
is the process ofexamining large amounts of data of a variety of types to uncover hidden patterns, unknown correlations, and other useful information
Big Data analytics
are very important in setting the organization's overall strategic goals and in approving the major decisions and salaries of top management.
Board members
is find a vertial market and find a channel to show its successful and then move it to the bigger market
Bolowing ally startgey
are cash awards given to employees who achieve specific performance objectives.
Bonuses
if you liquate all of the assets that's what the vlaue would be
Book value
The population that is born between 1977 and 1994
Generation Y or millennial's
Are those manufacturers wholesalers retailers and government agencies that buy products and services for their own use or for resale
Organizational buyers
, measure performance on actual job tasks
Performance tests, or skills tests
The triple bottom line measures an organization's
social, environmental, and financial performance.
describes the extent to which a job requires a person to use a wide range of different skills and abilities.
Skill variety
a
The relationship between quantity supplied and price is _____ and the relationship between quantity demanded and price is _____. A. direct; inverse B. inverse; direct C. inverse; inverse D. direct; direct
Modify
To affirm the outcome but with changes.
, a report listing your organization's employees by name, education, training, languages, and other important information.
human resource inventory
identify opportunities, implement, marketing mix are in the________________ phase
implementation
as expressed in the need to solve problems that further organizational goals.
institutional power, (positive )
, the debilitating lack of faith in one's ability to control one's environment.24
learned helplessness
Refers to those behaviors that results from one repeated experience and 2 reasoning
learning
owners of an organization consist of all those who can claim it as their
legal property
Within organizations there are typically five sources of power leaders may draw on:
legitimate, reward, coercive, expert, and referent.
Part-time work—
less than 40 hours.
both individuals and organizations buy and use goods and services that are
marketed
the ________of the organization to convert those strategies and tactics
middle levels
This need will probably be more expensive we'll probably make you feel better but is not necessary
psychological need
Knowing how order size affects buying practices is important in determining who participates purchase decision and makes the final decision in the length of time required to arrive at a
purchase agreement
Occurs when only one firm sells the product
pure monopoly
Use this color if you want to communicate Creative wise
purple
Start out with exploratory research this is _________ data
qualitative data
focuses on the performance of workers, urging employees to strive for "zero defects.
quality assurance
Advantages of primary research are
specific to the immediate data needs and topic at hand , offers behavioral insights generally not avaible from secondary research
Attitudes have three components
—affective, cognitive, and behavioral.52
Are statements of an accomplishment of goals it has to be achieved often by specific time
Goals or objectives
formal aspects:
Goals. Policies. Hierarchy. Structure.
go the extra 100's yard to make them happy if you cant afford to loose the customer then you could do this
Good will recovery
a
Government purchases include government spending on: A. government consumption goods and public capital goods. B. government consumption goods only. C. public capital goods only. D. government consumption goods, public capital goods, and transfer payments.
Using a group to make a decision offers five possible advantages
Greater pool of knowledge, Different perspectives, Intellectual stimulation, Better understanding of decision rationale., Deeper commitment to the decision.
- path for investment
Green
occurs when group members strive to agree for the sake of unanimity and thus avoid accurately assessing the decision situation
Groupthink
Is the physical devices that make up a computer
Hardware
Include such things as USB port into which you would connect to a printer, connector cables to connect your printer to the USB port and internal connecting devices on the motherboard
Connecting devices
may not be exactly what you want , may be dated , may not be original , may be bad methodology may be biased
Cons of secondary research
make them all agree
Consensus
The values ideas and attitudes that are learned and shared among the members of the group
Culture
A classified balance sheet generally contains the following standard classifications
Current Assets Long Term Investments Property, Plant and equipment Intangible assets Curent Liabilities Long Term Liabilities Stock Holders equity
Working Capital =
Current Assets - Current liabilities
Current Ratio =
Current Assets / Current liabilities
The process of identifying prospective buyers understanding them intimately and developing favorable long-term perceptions of the organization and It's offering so the buyers will choose them in the marketplace
Customer relationship management
Uses information about customers to gain insight into their needs wants and behaviors in order to serve them better
Customer relationship management system
Is the unique combination of benefits received by targeted buyers that includes quality convenience on time delivery and both before sale and after sale service at a specific price
Customer value
A cluster of benefits that in organization promises customers to satisfy their needs
Customer value proposition
are those who pay to use an organization's goods or services
Customers
Generally Accepted account principles. are
-Are the agreed-upon accounting rules which most us companies are preparing financial statements. The Securities and exchange commission (SEC) oversees US financial markets and standard- setting. The public company accounting oversight board (PCAOB) determines adducting standards and reviews auditing firms
The evaluation phase of the strategic marketing process to help keep the marketing program moving in the direction it's it is set for this requires
1. compare the results of the marketing program with the goals in the written plans to identify deviations 2. act on these deviations correcting negative deviations and exploiting positive ones
Family influences on consumer behavior result from three sources
1. consumer socialization, 2. passage through the family lifecycle, 3. decision-making with the family or household
How firms devlope new products steps
1. idea genration 2. concept testing 3. product devlopment d 4. market testing - 5. product launch - full 6. evaluation
Swot analysis is based on exhaustive study of the four areas that form the foundation upon which the firm builds its marketing program
1. identify trends in the organization industry, 2. analyze the organization's competitors, 3. assess the organizations itself, 4. research the organization's present and prospective customers
Three key demographics include
1. in population profile, 2. a description of general cohorts, 3. a description of racial and ethnic diversity
Organizational buyers are divided into four markets
1. industrial 2. reseller 3. Government, Institutions
Rolls of individual family members in the purchase process or another element of family decision-making five rolls exist
1. information-gathering 2. influencer 3. decision maker 4 purchaser 5. user
High involvement purchases typically have at least one of three characteristics
1. is expensive two can have serious personal consequences 3. could reflects on one's social image
Two prominent person moral philosophies have direct bearing on marketing practice
1. moral idealism 2. utilitarianism
B2b buying proces
1. need recognition, 2. product specification 3. RFP process, 4. proposal and analysis and supplier selection, 5. order specification, 6. vendor/performance assessment using metrics
There are three concepts of social responsibility
1. profit responsibility 2. stakeholder responsibility 3. societal responsibility
The second step in the research marketing process requires that the researcher
1. specify the constraints 2. identify the data needed 3. determine how to collect the data
Service Recovery steps
1.Listen to the customer don't interrupt let them get it all out 2. Resolve problems quickly 3. Provide a fair solution
Whats the advantge to brand to the business
1.Loyalty 2. Brand can charge more money 3. Project attributes
Munsterberg suggested that psychologists could contribute to industry in three ways. They could:
10. Study jobs and determine which people are best suited to specific jobs. 11. Identify the psychological conditions under which employees do their best work. 12. Devise management strategies to influence employees to follow management's interests.
The following ideas were among Mary Parker Follett most important:
13. Organizations should be operated as "communities," with managers and subordinates working together in harmony. 14. Conflicts should be resolved by having managers and workers talk over differences and find solutions that would satisfy both parties—a process she called integration. 15. The work process should be under the control of workers with the relevant knowledge, rather than of managers, who should act as facilitators.
Laggards are __ % of the market
16%
which makes it illegal for employees of U.S. companies to make "questionable" or "dubious" contributions topolitical decision makers in foreign nations.
1978 Foreign Corrupt Practices Act,
In step _-you identify data needed for marketing actions you only focus on information that is relevant to solve this particular problem
2
In recent times, companies have been using information technology to cut costs, resulting in productivity growing at an annual rate of
2.7%
The four components of TQM are as follows:
20. Make continuous improvement a priority. TQM companies are never satisfied. They make small, incremental improvements an everyday priority in all areas of the organization. By improving everything a little bit of the time all the time, the company can achieve long-term quality, efficiency, and customer satisfaction. 21. Get every employee involved. To build teamwork, trust, and mutual respect, TQM companies see that every employee is involved in the continuous improvement process. This requires that workers must be trained and empowered to find and solve problems. 22. Listen to and learn from customers and employees. TQM companies pay attention to their customers, the people who use their products or services. In addition, employees within the companies listen and learn from other employees, those outside their own work areas. 23. Use accurate standards to identify and eliminate problems. TQM organizations are always alert to how competitors do things better, then try to improve on them—a process known as benchmarking. Using these standards, they apply statistical measurements to their own processes to identify problems.
Strabucks is going to into the high end coffee market in italy with a huge
25,000 squarefeet roastery
We can differentiate some typical teams according to their
27. Purpose. 28. Duration. 29. Level of member commitment.
Organizational buyers account for ______of the global dollar value of all online transactions
80%
Performance management consists of four steps
: (1) define performance, (2) monitor and evaluate performance, (3) review performance, and (4) provide consequences.
The most commonly used employee-selection technique, interviewing, takes three forms
: unstructured interviews and two types of structured interviews.100
Price Index
=Current year cost/base year cost x 100
NDP
=GDP-depreciation
PI
=NI - taxes on products&imports - S.S. - corp tax - undistributed corp tax + transfer payment
is an organization that actively creates, acquires, and transfers knowledge within itself and is able to modify its behavior to reflect new knowledge.57
=learning organization
allows the president of the United States to prevent or end a strike that threatens national security
A 1947 law (the Taft-Hartley Act)
Consumer can buy with a given amount of money income
A budget line is a graph that shows the various combinations of two products that a:
is a privately owned organization such as target Nike or Hyundai that services customers to earn a profit so it can survive
A business firm
Federal question -
A case in which the claim is based on the United States Constitution, a federal statute, or a federal treaty.
Takings clause
A clause in the Fifth Amendment which ensures that when any governmental unit takes private property for public use, it must compensate the owner.
has little interaction with its environment
A closed system
represents a broad personality trait comprising four positive individual traits: (1) self-efficacy, (2) self-esteem, (3) locus of control, and (4) emotional stability.
A core self-evaluation
Judicial restraint
A court's attitude that it should leave law making to legislators.
Judicial activism
A court's willingness to decide issues on constitutional grounds.
, for instance, is a computer-based information system that provides a flexible tool for analysis and helps managers focus on the future.
A decision support system
is a graph of decisions and their possible consequences; it is used to create a plan to reach a goal
A decision tree
is a person or an organization that helps another organization sell its goods and services to customers.
A distributor, sometimes called a middle man,
The disadvantages of group-aided decision making spring from problems in how members interact.163
A few people dominate or intimidate., Groupthink, Satisficing,, Goal displacement.
c
A firm's supply curve is upsloping because: A. the expansion of production necessitates the use of qualitatively inferior inputs. B. mass production economies are associated with larger levels of output. C. consumers envision a positive relationship between price and quality. D. beyond some point the production costs of additional units of output will rise.
Substantive due process
A form of due process that holds that certain rights are so fundamental that the government may not eliminate them.
is your belief in your ability to influence dissimilar others in a global context.
A global mind-set
is defined as (1) two or more freely interacting individuals who (2) share norms, (3) share goals, and (4) have a common identity=
A group
focuses on self-responsibility, nutritional awareness, relaxation techniques, physical fitness, and environmental awareness.
A holistic wellness program
c
A market is in equilibrium: A. provided there is no surplus of the product. B. at all prices above that shown by the intersection of the supply and demand curves. C. if the amount producers want to sell is equal to the amount consumers want to buy. D. whenever the demand curve is downsloping and the supply curve is upsloping.
is a business firm with operations in several countries.
A multinational corporation, or multinational enterprise,
a
A nation's gross domestic product (GDP): A. is the dollar value of all final output produced within the borders of the nation during a specific period of time. B. is the dollar value of all final output produced by its citizens, regardless of where they are living. C. can be found by summing C + In + S + Xn. D. is always some amount less than C + Ig + G + Xn.
is a contract between two parties that prohibits one party from criticizing the other; it is often used in severance agreements to prohibit former employees from criticizing their former employers
A nondisparagement agreement
consists of (1) assessing an employee's performance and (2) providing him or her with feedback
A performance appraisal, or performance review,
a
A person should consume more of something when its marginal: A. benefit exceeds its marginal cost. B. cost exceeds its marginal benefit. C. cost equals its marginal benefit. D. benefit is still better.
Is not attainable for this nation
A point outside (to the right of) the production possibilities curve of a nation:
use razors knowledge of shavers apply more cologne and aftershave lotion and purchase signature goods as a indicator status
Aggressive types
. is allowing the desires of the other party to prevail may be an appropriate conflict-handling strategy when it's possible to eventually get something in return or when the issue isn't important to you. It's not appropriate for complex or worsening problems.
Accommodating
motivated by achievement over products and services that demonstrate success to their peers or two if your group they aspire to
Achievement motivated groups consumers
have a busy goal orientated lifestyle commitment to create a family and are interested in time-saving devices giving their hectic lifestyle
Achievers
occurs when an organization uses an employment practice or procedure that results in unfavorable outcomes to a protected class (such as Hispanics) over another group of people (such as non-Hispanic whites)=
Adverse impact
How much are the total fixed costs?
Advertising campaign costs+ Straight-line depreciation expense on factory equipment, + Factory supervisor's salary + Factory maintenance salaries,+ Factory building rent
How much is the differential annual net operating income?
Annual increase in sales ($94,000) - Annual increase in cost of goods sold ($34,000) - Annual increase in sales commissions ($1,500) - Annual increase in shipping costs ($300) - Annual increase in depreciation expense ($11,500)+ Annual decrease in utilities cost ($2,700) - Annual increase in advertising costs ($8,100).
a
Answer the question on the basis of the following data. All figures are in billions of dollars. Refer to the data. Consumption of fixed capital is: A. $5. B. $10. C. $20. D. $30.
d
Answer the question on the basis of the following data. All figures are in billions of dollars. Refer to the data. NI is: Refer to the data. NI is: A. $362. B. $372. C. $447. D. $402.
a
Answer the question on the basis of the following data. All figures are in billions of dollars. Refer to the data. PI is: A. $314. B. $346. C. $408. D. $437.
Alternative dispute resolutio
Any other formal or informal process used to settle disputes without resorting to a trial
alturntive didspute relasution
Any other formal or informal process used to settle disputes without resorting to a trial
Medium of exchange
Anything that is generally acceptable in trading for goods and services is a:
Is the software that enables you to solve specific problems and performance specific tasks
Application software
Excutive
Appointment Legislation Foreign Policy
Long Term Investments
Are Assets that can be converted into cash but who's conversion is not expected within one year Assets not intended for use within the business. Examples are investments of stocks and bonds of other corporations.
Current Assets
Are Expected to be converted to cash or used in the business within a short period of time usually one year Examples of current assets include: cash, short term investments , receivables inventories and pre paid expenses On the balance sheet current assets are listed in the order in which the company expects to convert them into cash (order of liquidity
Curent Liabilities
Are obligations that are supposed to be paid within the coming year Common Examples are account payable, wages payable bank loans payable , interest payable , taxes payable and current maturities of long term bank loans payable
Our hard-core numerical data that allows people to analyze operations and processes and make better decisions
Analytics
Among some of the uses of Big Data analytics are the following
Analyzing consumer behavior and spurring sales: , Improving hiring and personnel management, Tracking movie, music, TV, and reading data, Exploiting farm data:, Advancing health and medicine
occurs when an employee retires or when the company eliminates his or her job, and the employer leaves the vacancy unfilled
Attrition
were very firmly held belifs they get to belive you something is important that isnt improtant
Attuides
is the right to perform or command
Authority
only the top guy will make the descion
Autocratic
25. —"I want to feel independent and able to influence my environment." People need to feel they have freedom and the discretion to determine what they want to do and how they want to do it.
Autonomy
describes the extent to which a job allows an employee to make choices about scheduling different tasks and deciding how to perform them.
Autonomy
are the elements of a bacterial defense system and can be programmed to edit DNA and allow researchers to permanently modify genes in living cells and organisms
CRISPRs
- you don't want your markets don't take away from the other
Cabalzation
• People often justify lying and cheating because they have resentments about a rule or a boss.7
Cheating arises out of resentment.
• Many people cheat to avoid feeling like a chump—to "not being smart" and "finishing out of the money."
Cheating is to avoid feeling like a chump.
• We constantly make choices "between short- and long-term gains," suggests Carey, "between the more virtuous choice and the less virtuous one." The brain naturally seeks useful shortcuts and so may view low-level cheating as productive.
Cheating provides useful shortcuts.
• The urge to cheat may arise from a deep sense of unfairness, such as your sense that other people had special advantages.
Cheating seeks to redress perceived unfairness.
Notes on financial statements
Clarify information presented in the financial statements. Describe accounting polices or explain uncertainties and contingencies.
Four trends have significantly affected world trade and global marketing
Decline of Economic Protectionism , Rise of Economic Integration & Free Trade , Global Competition, Global Marketplace
Six Rules for Brainstorming
Defer judgment., Build on the ideas of others. , Encourage wild ideas, Go for quantity over quality., Be visual., One conversation at a time.
culture you need to make the majority agree
Democratic
are influences on an organization arising from changes in the characteristics of a population, such as age, gender, or ethnic origin.
Demographic forces
Grouping customers based on customer personal attributes or age or gender , nationality occupation , income social class , family size
Demographic segmentation
Generally refers to the specialized functions such as marketing and finance
Department
A variable that responds to some causal factor; total cost is the dependent variable, as represented by the letter Y,in the equation Y =a + bX
Dependent variable
Types of discovery
Depositions Collection of documents interrogatories requests for production of documents and inspection
Information is of no value to you if you can't access it
Location
Is the use of mobile device and its location to check into location such as businesses and entertainment venues fine friends and their locations and receive rewards to give it that you're specials based on location
Location based services social Location-based
keeping the cost of trans porting materials as low as possible consistent with safe and reliable delivery
Logistics
all of the stuff that don't go into the product
MRO
displays a cynical view of human nature and condones opportunistic and unethical ways of manipulating people, putting results over principles.
Machiavellianism (pronounced "mah-kyah-vel-yahn-izm")
Some general organizational strategies for reducing unhealthy stressors are the following
Make career counseling available., Make jobs interesting, Create a supportive environment., Recommend a holistic wellness approach., Roll out employee assistance programs
with fewer resources express themselves and experience the world I working on it raising children or fixing a car they're practical people who have constructive skills value self sufficiency and are I'm impressed by material possessions except those with practical or functional purpose
Makers
The Supremacy Clause
Makes the Constitution, and federal statutes and treaties, the supreme law of the land.
focuses on using mathematics to aid in problem solving and decision making.
Management science
Must break buying habits by using free samples coupons and rebates to encourage trial of their brands
Market challengers
The organization focuses its efforts on one continuously collecting information about consumers needs two sharing this information across departments and three using it to create customer value this is called
Market orientation
Helps create value , occurs in many settings, performed by both individuals and organizations, requires the four p's entials an exchange, is about satisfying customers needs and wants
Marketing
It enhances competition which improve the quality of products and services and offers lower prices this makes countries more competitive in the world markets and provides jobs and higher stenting of living for their citizens
Marketing
________creates its utilities by bridging space (Place utility) and hours (time utility) to provide products( from utility) for consumers to own and use (possession utility)
Marketing
seeks one to discover the needs and wants the prospective customers and to satisfy them.
Marketing
these four elements are controllable factors product, price, promotion, and place
Marketing mix
It was thousands or perhaps millions of people playing interact in a robust virtual worlds World of Warcraft and Second Life are two well-known examples
Massively multiplayer online role-playing games MMOrpg's
Curent Ratio
Measure of short term ability to pay obligations Computed by dividing current assets by current liabilities. More dependable indicator of liquidity than working capital. Does not take into account composition of current assets
is the extent to which people feel secure and unworried and how likely they are to experience negative emotions under pressure
Emotional stability
• How relaxed, secure, and unworried one is.
Emotional stability.
has been defined as the feeling of being overwhelmed, "the perception that events or circumstances have challenged, or exceeded, a person's ability to cope.
Emotionally, stress
The caring ,indivualized attention provided to customers
Empathy
If you work for a company that is more than half owned by its employees you are one of the joint owners—you're part of an
Employee Stock Ownership Plan (ESOP).
include a host of programs aimed at helping employees to cope with stress, burnout, substance abuse, health-related problems, family and marital issues, and any general problem that negatively influences job performance.230
Employee assistance programs (EAPs)
Five _______________ are locus of control (described in Chapter 11), task ability, need for achievement, experience, and need for path-goal clarity.
Employee characteristics.
represents the extent to which a leader creates perceptions of psychological empowerment in others
Empowering leadership
A detailed analysis of cost behavior based on an industrial engineer's evaluation of the inputs that are required to carry out a particular activity and of the prices of those inputs.
Engineering approach
Is a product or service feature the customers have come to expect for organizations in a particular industry and that must be offered by an entering organization to compete and survive
Entry barrier
are becoming big concerns for consumers such as why Walmart is building wind turbines on some of their parking lot light poles
Environmental sustainably and responsibility
whose job is to enforce antidiscrimination and other employment-related laws
Equal Employment Opportunity (EEO) Commission,
theory is based on cognitive dissonance the psychological discomfort people experience between their cognitive attitude and incompatible behavior
Equity
is a model of motivation that explains how people strive for fairness and justice in social exchanges or give-and-take relationships. Pioneered by psychologist J. Stacey Adams
Equity theory
c
Final goods and services refer to: A. goods and services that are unsold and therefore added to inventories. B. goods and services whose value has been adjusted for changes in the price level. C. goods and services purchased by ultimate users, rather than for resale or further processing. D. the excess of U.S. exports over U.S. imports.
The solution to preventing product failures is
First find out what consumers need and want second produce what they need and want and don't produce what they don't need want
is simply ordering an outcome, when a manager relies on his or her formal authority and power to resolve a conflict, but the needs of the other party are largely ignored. is appropriate when an unpopular solution must be implemented and when it's not important that others be committed to your viewpoint
Forcing
are conducted at specific times throughout the year and are based on performance measures that have been established in advance
Formal appraisals
is a group assigned by organizations or its managers to accomplish specific goals
Formal groups
is a trading bloc consisting of the United States, Canada, and Mexico The agreement is supposed to eliminate 99% of the tariffs and quotas among these countries, allowing for freer flow of goods, services, and capital in North America ,
North American Free Trade Agreement (NAFTA)
buy raw goods and processes them into the manufacture their own goods
OEM
_________appraisals, are based on facts and are often numerical.
Objective appraisals, also called results
Quantifiable he describes something that is known
Objective information
Long Term Liabilities
Obligations expected to be paid after one year. Liabilities in this category include bonds payable , mortgages payable, long term notes payable , lease liabilities and obligations under employee pension plans Land or a building which is currently not used in operation is considered to be a long-term investment.
to the extent we can observe the people using it
Observability
of 1970, a body of law has grown that requires organizations to provide employees with nonhazardous working conditions (most recently augmented by an update to the Toxic Substances Control Act of 1976).
Occupational Safety and Health Act (OSHA)
• This training consists of classroom programs, workbooks, videos, and games and simulations. Today, of course, lots of this consists of technology-enhanced learning—online learning, or e-learning (for electronic learning)
Off-the-job training.
make up a size will market for prescription drugs medical services education trips and gifts for younger relatives
Older married an older unmarried
• This training takes place in the work setting while employees are performing job-related tasks. Four major training methods are coaching, training positions, job rotation, and planned work activities.
On-the-job training.
was the frist person to put carmeas in stores to see what the cusomers did he did not trust them he wanted to see how they behave this is an exaple of ______ data
Paco underhill , observation data
is conclusive research used when products evlove over time They have people tell them what they want in the product and then they relase it and have them come back and say what they like abiut the actual product when they relased
Pannel
is a form of leadership behavior characterized by a lack of leadership skills
Passive leadership
law gives in inventors of new and novel products the right to exclude others for marketing, using, or selling products that infringe on the invention
Patent
bases pay on one's results.
Pay for performance. Also known as merit pay, pay for performance
- one of the reaosn we buy brands is because we perceive value. Such as kellog vs bran fakes or Toms Vs Colgate
Percived Value/ Quality
is defined as a set of processes and managerial behaviors that involve defining, monitoring, measuring, evaluating, and providing consequences for performance expectations.
Performance management
• —how much should individuals be rewarded for improvement and excellence? expresses the extent to which society encourages and rewards its members for performance improvement and excellence.
Performance orientation
Costs that are taken directly to the income statement as expenses in the period in which they are incurred or accrued
Period costs
Include the need for achievement status prestige and self-respect
Personal needs
Refers to a person's consistent behaviors or responses to reoccurring situations
Personality
is defined as interpersonal opposition based on personal dislike or disagreement.
Personality conflict
Information exhibits high quality only if it is
Pertinent, relevant, and useful to you
In 1954, he published his famous text The Practice of Management, in which he proposed the important idea that management was one of the major social innovations of the 20th century and should be treated as a profession, like medicine or law.
Peter Drucker
- location is important it is perceptually important
Phsyical enviroment
• Lesser physiological signs are sweaty palms, restlessness, backaches, headaches, upset stomach, and nausea. More serious signs are hypertension and heart attacks
Physiological signs..
A means of getting the product to the consumer
Place
Means having the offering available where consumers needed
Place utility
• describes all activities necessary to get the product to the right customer when the customer wants it
Place, or supply chain management,
Ways to interpret a bill
Plain meaning rule Legislative history Public policy
For implementation to be successful, you need to do two things:
Plan carefully., Be sensitive to those affected.
Are those characteristics of a products that make it superior to competitive subsidies
Points of difference
- How risky is it to go into this area
Political regulatory climate
take the view that native managers in the foreign offices best understand native personnel and practices, and so the home office should leave them alone.
Polycentric managers
is a preference for doing more than one thing at a time. Here time is viewed as being flexible and multidimensional.
Polychronic time
The rapidly increasing population is also referred to
Population explosion
—"Do I have power to reward and punish?
Position power
Am I going to position it in premium or basic or attributes many ways to position is it going to be fun , powerful quality is the Price premium, value , low
Positioning
is putting the product where you wanted to be such as in the car model example
Positioning
After buying the product that consumer compares it with his or her expectations and is either satisfied or dissatisfied if you consumers dissatisfied marketers must determine whether the product was deficient or consumer stations were too high such as does the product required design change or is the cubbies advertising or salesperson oversold products features and benefits this is called
Post purchase behavior value in consumption or use
Why we study law.
Power Importance Fascination
, which are concerned with the thought processes by which people decide how to act, have three viewpoints: equity/justice theory, expectancy theory, and goal-setting theory
Process perspectives
Service marketing has 7'ps
Process, physical evidence , product , place ,price , promotion , people
All costs that are involved in acquiring or making a product. In the case of manufactured goods, these costs consist of direct materials, direct labor, and manufacturing overhead.
Product costs
Is there marketing strategy of selling new products to current markets
Product development
insuring___________ lines function smoothly because high quality parts are available when needed
Production
Is the money left after the business firms total expenses are subtracted from its toll revenues and is the reward for the risk it undertakes in marketing its offerings
Profit
To get as high as a financial return on their investments ROI as possible
Profit
is the distribution to employees of a percentage of the company's profits.
Profit sharing
is designed to elicit different opinions without inciting people's personal feelings.
Programmed conflict
to see If it works
Prototype
Free Cash flow
Provides assertional insight Computed by subtracting capital expenditures and cash dividends form cash provided by operations.
grouping customers according to lifestyles such as altitudes , opinion , personality , interests
Psychographic segmentation
A basic to survival and must be satisfied first
Psychological needs
reflects the extent to which people feel free to express their ideas and beliefs without fear of negative consequences.185
Psychological safety
• . Psychological symptoms include forgetfulness, boredom, irritability, nervousness, anger, anxiety, hostility, and depression.221
Psychological signs
is characterized by lack of concern for others, impulsive behavior, and a dearth of remorse when the psychopath's actions harm others
Psychopathy. Psychopathy ("sigh-kop-a-thee")
including various product rating organization organizations such as consumer reports government agencies and TV consumer programs
Public sources
What I want to see this in the media
Publicity test
is the process of weakening behavior by presenting something negative or withdrawing something positive.
Punishment
To whom to buy from and two when to buy
Purchase decision buying value
what percentage of the average persons income is the cost of the good
Purchasing power parity
a
Real GDP is preferred to nominal GDP as a measure of economic performance because: A. nominal GDP uses current prices and thus may over- or understate true changes in output. B. nominal GDP only includes goods and excludes services. C. nominal GDP is not adjusted for population changes. D. real GDP accounts for changes in the quality of goods and services produced.
b
Real GDP is: A. the nominal value of all goods and services produced in the economy. B. the nominal value of all goods and services produced in the domestic economy corrected for inflation or deflation. C. that aggregate output that is produced when the economy is operating at full employment. D. always greater than nominal GDP.
is the process of locating and attracting qualified applicants for jobs open in the organization.
Recruiting
A majority of the voters would favor the jail, 2-to-1
Refer to the above table, which shows the ranked preferences of voters for three alternative projects, with "1" being the top preference. In a paired-choice vote between a park and a jail:
b
Refer to the data. GDP is: A. $390. B. $417. C. $422. D. $492. (c+i+g+x+M)=gdp
Price of corn in the market
Refer to the diagram above, which shows three supply curves for corn. A movement from point a to point b is caused by a change in the: Price of resources used to produce corn Price of corn in the market Number of corn farmers Technology of corn farming
b
Refer to the diagram, which shows demand and supply conditions in the competitive market for product X. Given D0, if the supply curve moved from S0 to S1, then: A. supply has increased and equilibrium quantity has decreased. B. supply has decreased and equilibrium quantity has decreased. C. there has been an increase in the quantity supplied. D. supply has increased and price has risen to 0G.
a
Refer to the diagram. Flow 1 represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D. consumer expenditures.
d
Refer to the diagram. Flow 4 represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D. consumer expenditures.
a
Refer to the diagram. The equilibrium price and quantity in this market will be: A. $1.00 and 200. B. $1.60 and 130. C. $0.50 and 130. D. $1.60 and 290.
d
Refer to the figures. In terms of representing the economy: A. neither Figure A nor Figure B consistently represents either the very short run or the longer run. B. demand shocks affect levels of output and employment in Figure A; demand shocks have no effect in Figure B. C. Figure A represents the very short run, where output is fixed, and Figure B represents the longer run. D. Figure B represents the very short run, where prices are sticky, and Figure A represents the longer run.
c
Refer to the figures. Which of the following events would most likely result in higher unemployment? A. A shift from D2 to D1 in Figure A. B. A shift from D2 to D3 in Figure A. C. A shift from D2 to D1 in Figure B. D. A shift from D2 to D3 in Figure B.
c
Refer to the table. Suppose that demand is represented by columns (3) and (2) and supply is represented by columns (3) and (5). If the price were artificially set at $6: A. the market would clear. B. a surplus of 40 units would occur. C. a shortage of 40 units would occur. D. demand would change from columns (3) and (2) to columns (3) and (1).
Is the reward
Reinforcement
suggests behavior will be repeated if it has positive consequences and won't be if it has negative consequences.
Reinforcement theory
26. —"I want to feel connected to other people." People need to feel a sense of belonging, of attachment to others.
Relatedness
4. . This is the ability to communicate clearly and convincingly, disarm conflicts, and build strong personal bonds.
Relationship management
is primarily concerned with the leader's interactions with his or her people
Relationship-oriented leadership
-have a value proposition
Relative Advantage
Characteristics of useful information
Relevance Reliability Comparability Consistency
The range of activity within which assumptions about variable and fixed cost behavior are valid.
Relevant range
The ability to perform the service dependably and accurately
Reliabilty
Ways to Evulate service quality
Reliabilty , Responsiveness , Assurance , Empathy , Tangibles
Full Disclosure Principle
Requires all circumstances and events that would make a difference to financial statement users to be disclosed.
are specfic mesaurebale goals the descion maker seeks to achive in conducting marketing research
Research objectives
Assets
Resoures owned by the business which are expected to provide a value or service to the business at some future point in time
The willingness to help customers and provide prompt service
Responsiveness
Resell the products they buy it without reprocessing them
Retailers and wholesalers
How much you sell that one unit for
Revenue
There are several aspects of positive reinforcement, which should definitely be part of your toolkit of managerial skills:
Reward only desirable behavior, Give rewards as soon as possible.,Be clear about what behavior is desired., Have different rewards and recognize individual differences.
which all managers have, is power that results from managers' authority to reward their subordinates.
Reward power,
Intangible assets
Rights privileges and competitive advantages Non Current assets which have no physical substance Examples are Franchises patents copyrights and trademarks or trade names Some of them are amortized and charged to the income statement as an expense to indicate their contribution to the revenue- producing process for the period.
Fundamental rights
Rights so basic that any governmental interference with them is suspect and likely to be unconstitutional.
This act makes it unlawful to discriminate in prices charge to different purchasers of the same product where the fact may sustainable he lesson competition or help to create a monopoly
Robinson Patman act of 1936
occurs when others' expectations are unknown
Role ambiguity
occurs when one feels torn by the different expectations of important people in one's life.
Role conflict
occurs when others' expectations exceed one's ability.
Role overload
Consumers recognize that problem, make a decision and spend little effort seeking external information and evaluating alternatives the purchase product for such items is virtually a habit and low enrollment decision making this is usually for low-priced frequent purchase Products this is called ___________ problem solving
Routine problem-solving
When people pay attention to messages that are consistent with their attitudes and beliefs and ignore messages that are inconsistent
Selective exposure
A filtering of exposure comprehension and retention
Selective perception
Consumers do not remember all the information they see, read, or hear even minutes after exposure to it
Selective retention
motivated by self expression desire social or physical activity variety and risk
Self expression with the groups consumers
The most essential trait. This is the ability to read your own emotions and gauge your moods accurately, so you know how you're affecting others.
Self-awareness.
Which is the way people see themselves and the way they believe others see them
Self-concept
focuses primarily on intrinsic motivation and rewards (such as feeling independent) rather than on extrinsic motivation and rewards (such as money or fame). Intrinsic motivation is longer lasting than extrinsic motivation and has a more positive impact on task performance
Self-determination theory
is the belief in one's personal ability to do a task.
Self-efficacy
are defined as groups of workers who are given administrative oversight for their task domains
Self-managed teams
2. This is the ability to control your emotions and act with honesty and integrity in reliable and adaptable ways. You can leave occasional bad moods outside the office.
Self-management.
How do you know that you're in a group or team that is suffering from groupthink? Some symptoms include the following
Sense of invulnerability, Rationalization, Illusion of unanimity and peer pressure., The wisdom of crowds.
focuses on providing increased service to others—meeting the goals of both followers and the organization—rather than to oneself.
Servant-leadership
Are intangible items such as airline trips financial advice or art museums
Services
consists of unwanted sexual attention that creates an adverse work environment.
Sexual harassment
3. . This includes empathy, allowing you to show others that you care, and organizational intuition, so you keenly understand how your emotions and actions affect others.
Social awareness
is the economic or productive potential of strong, trusting, and cooperative relationships.
Social capital
Are concerned with love and friendship dating services such as match.com and eHarmony
Social needs
Firms may seek to balance the conflicting goals of stakeholders to promote their overall welfare even at the expense of profits
Social responsibility
Environmental trends arise from five sources
Social, economic, technological, competitive, and regulatory forces
are influences and trends originating in a country's, a society's, or a culture's human relationships and values that may affect an organization or industry.
Sociocultural forces
Is the set of instructions that your hardware executes the carry out a specific task
Software
Is it delivery model for software in which you paid for software on a pay per use basis instead of buying the software out right
Software as a service SaaS
Incompetent workers gravitate towards government, while motivated workers gravitate towards the private sector
Some economists contend that government agencies are generally less efficient than private businesses due to the following reasons
d
Specialization—the division of labor—enhances productivity and efficiency by: A. allowing workers to take advantage of existing differences in their abilities and skills. B. avoiding the time loss involved in shifting from one production task to another. C. allowing workers to develop skills by working on one, or a limited number, of tasks. D. all of the means identified in the other answers.
SMART:
Specific, Measurable, Attainable, Results-oriented, and having Target dates
decisions are those for which the husband or wife is most responsible
Spouse dominant
is evaluating your market segments such as segment size and growth, segments structural attractiveness, Level of competition, substitute products, power buyers, powerful suppliers
Target marketing
in all segments which is my most favorite segment
Targeting
Government action such as
Tariff, tax , qutotas
describes the extent to which a job requires a worker to perform all the tasks needed to complete the job from beginning to end.
Task identity
describes the extent to which a job affects the lives of other people, whether inside or outside the organization.
Task significance
—"Do my subordinates perform unambiguous, easily understood tasks
Task structure
reflects the collection of jobs, personalities, values, knowledge, experience, and skills of team members.
Team composition
—rescinding the tax breaks when firms don't deliver promised jobs
clawbacks
Is a formal statement of ethical principles and rules of conduct
code of ethics
consists of a formal written set of ethical standards guiding an organization's actions
code of ethics
The feeling of post purchase psychological tension or anxiety such as should I purchase something else is called when you buy something but you convince your self you like it
cognitive dissonance
to describe the psychological discomfort a person experiences between his or her cognitive attitude and incompatible behavior.
cognitive dissonance
32. Female leadership was associated with more
cohesion, cooperative learning, and participative communication among team members.
In the Hofstede model Japan is -
collectivistic
Airbnb has lots of reviews and theres a whole eco system that makes people feel
comfortable
To achieve psychological growth, according to the self-determination theory , people need to satisfy the three innate (that is, inborn) needs of
competence, autonomy, and relatedness:
—people or organizations that compete for customers or resources,
competitors
Conceptual types adopt a long-term perspective and rely on intuition and discussions with others to acquire information. They also are willing to take risks and are good at finding creative solutions to problems. However, a conceptual style can foster an indecisive approach to decision making.
conceptual style
, which occurs when members are able to express their opinions and reach agreement to support the final decision
consensus
Segment Insights they compel data
constantly
Segment Insigths they compell data
constitly
The process by which people acquire the skills knowledge and attitudes necessary to function as consumers this called
consumer socialization
The sales process contains many steps including
contact management, sales lead tracking, sales forecasting and order management, product knowledge
The four major perspectives on motivation are
content, process, job-design, and reinforcement
This refers to the degree to which a person wants personal and psychological development. Job design works when employees are motivated
contingency factors.
When service firms go into a ________they want to know do you understand the business then you can lay acorss there funcatinal capabilites
coprate , Organizational structure In b2b service firms
Gives the author of a literary dramatic musical or artistic work exclusive right to print performer otherwise copy at work
copyright
, the system of governing a company so that the interests of corporate owners and other stakeholders are protected.
corporate governance
the notion that corporations are expected to go above and beyond following the law and making a profit.
corporate social responsibility (CSR),
To be traced to a cost object such as a particular product, the cost must be caused by the
cost object.
Ryan air is a new porudct devloped by
cost reduction
New products that provide the customer similar performcace but at a lower cost may be more of a new product in terms of design or production % of new products
cost reductions , 11%
Disadvantages of primary research is
costly , time consuming , requires sophisticated, training and experience
, types of behavior that harm employees and the organization as a whole.
counterproductive work behaviors (CWB)
—that is, bartering goods for goods.=
countertrading
To avoid these penalties such as import quotas and tarrifs , a company might
create a subsidiary to produce the product in the foreign country
Trust is based on
credibility
The act of entering an amount on the right side is called
crediting the account.
You must -_-_____________ into the main stream for it to be successful
cross the chasm
crowdfunding,raising money for a project or venture by obtaining many small amounts of money from many people (
crowd funding
Is a stimulus or symbol perceived by consumers
cue
—the feelings of discomfort and disorientation associated with being in an unfamiliar culture.
culture shock
- curency such as you can get more money for less
curency exchnage
36. A leader's ___________ is more important than his or her traits. It is important to train managers on the various forms of task and relationship leadership.
behavior
which attempt to determine the unique behaviors displayed by effective leaders
behavioral leadership approaches,
Is a process of developing automatic responses to situations builds up the repeated exposure to it ingleside
behavioral learning
Although they like to hold meetings, people with this style have a tendency to avoid conflict and to be concerned about others. This can lead behavioral types to adopt a wishy-washy approach to decision making and to have a hard time saying no.
behavioral style
Emphasis on importance of understanding humman behavior and motvating and encouraging employees toward achievement
behavioral viewpoint 1913-1950's
, the interviewer explores what applicants have actually done in the past.
behavioral-description interview
with your resources or conservative conventional people with concrete believes based on traditional establish codes family, religion, community and the nation the issues familiar products and brands favorite American made products and are generally brand loyal
believers
Are consumers subjective perception of how a product or brand performs on different attributes
belifs
If you want to communicate intelligence, wisdom, integrity, truth, loyalty, peace, authority, trust, reliability, confidence use Color
blue
Who hires the chief executive of a for-profit or nonprofit organization? In a corporation, it is the
board of directors,
. In nonprofit organizations, such as universities or hospitals, the board may be called the
board of trustees or board of regents.
The stock market was giving no vlaue to apple when steave jobs came back it was trading at
book vlaue
the concept suggests that the ability of decision makers to be rational is limited by numerous constraints, such as complexity, time and money, and their cognitive capacity, values, skills, habits, and unconscious reflexes
bounded rationality,
Your product _____how many / how broad should I offer products is horzonal
breadth
Color - Pink is for
breast cancer
The second form of unethical competitive behavior is_ these are sometimes disguised as gifts consultancies and favor
bribes and kickbacks
, or administrative changes, that managers can make to reduce the stressors that lead to employee burnout.
buffers
And action In each of the four cells in swot analysis might be
build on a strength, correct a weekness , exploit an opportuinty , avoid a disaster laden threat
In our time, the word has come to have negative associations: impersonality, inflexibility, red tape, a molasses-like response to problems. But to German sociologist Max Weber, a_______________was a rational, efficient, ideal organization based on principles of logic.
bureaucracy
Strategies and organization developed to provide value to customers it serves
business model
Is a technique that managers use to quantify performance measures and growth targets to analyze their firms strategic business units as though they were a collection of separate investments the purpose of the tool is to determine the appeal of each SBU or offering an then determine amount of cash each should receive
business portfolio analysis made by BCG (Boston consulting group )
Share common goals, rests and knowledge important to a purchase decision
buying center or buying committee
The international accounting standards board (IASB issues standards( IFRS) that have been
adopted by many countries outside the us
Stake holder
after ww2 thinking about society company's should not just care about shareholders care about society in general
Ways to prevent group think are
allow critiscism , allow other perspectives
Ways to settle a case
alternative dispute resolution Negotiation - party's meet and try to talk about a settlement Mediation- trys to help 2 party's settle their dispute Could be ordered by the court
Multiattrbute attitude models
altitudes , beliefs , important weights
An account is
an individual accounting record of increases and decreases in a specific asset, liability or stockholders equity item.
The _______have the formal or informal power to select or prove the supplier that receives the contract
deciders
In , a manager agrees that he or she must decide what to do about a problem or opportunity and take effective decision-making steps=
deciding to decide
The main stream market is everything after the
early adopters
A country's communications , transportation , financial and distribution systems is a critical consideration in determining whether to try to market to a country this is called
economic infrastructure
In business, most ethical conflicts are about choosing between
economic performance and social performance.
33. Peers, managers, direct reports, and judges/trained observers rated women executives as more ________ than men. Men also rated themselves as more___________ than women evaluated themselves
effective
A large corporation might have ________or so members on its board of directors.
eight
, in which members of a group come together over a computer network to generate ideas and alternatives.
electronic brainstorming, sometimes called brainwriting
Information is communicated from an to customers suppliers and the speeders and other partners for the purpose of doing business these flows of information are really what a lot___________ is all about
electronic commerce
Sports shoe market breaks their segments down into
elties , keeping fit , daily comfort , fashion
is a complete ban or prohibition of trade of one country with another
embargo
is the ability to monitor your and others' feelings and to use this information to guide your thinking and actions.
emotional intelligence
—people living or working in a foreign country
expatriates
, a company produces goods domestically and sells them outside the country.
exporting
—people or groups in the organization's external environment that are affected by it.
external stakeholders
Rewards (as well as motivation itself) are of two types—
extrinsic and intrinsic
—such as work rules or legal matters—lectures, videotapes, and workbooks are effective.
facts
It is very expensive to go into a market and
fail in a market.
Vans target for
fashion
19. is information about the reaction of the environment to the outputs that affects the inputs. Are the customers buying or not buying the product? That information is
feedback.
Many customers are generally frustrated by poor customer relations at airlines, banks, cable and satellite service providers, and some big retailers, in part because many of these companies have
few competitors and so don't have to worry about making customers happy.
Selective distribution there is a
few stores of them not a lot
Research has shown that companies who practice sustainable development benefit from form word-of-mouth among consumers and 2.typically outperform less responsible companies in terms of
financial performance
tends to mean that a person was dismissed permanently "for cause": absenteeism, sloppy work habits, failure to perform satisfactorily, breaking the law, and the like.
fireing
A significant impact on gaining market share by being the first to market with the competitive advantage
first mover advantage
Get seconadry data _____then go for
first, primary data
the modern way is
fitting jobs to people.80
The traditional way is
fitting people to jobs;
The total of all costs that you and incure whether or not you sell anything
fixed cost
In break even analysis you consider the following financial information
fixed costs, Variable cost, revenue,
Normally you cant take years to enter a market because your competition will
flank you.
defined as one with few or no levels of management
flat organization,
experiment, in which employees were told they could work wherever and whenever they chose as long as projects were completed on time and goals were met
flex-time
Flextime hours—
flexible working hours
Starbucks moved added new
food
Companies may be enticed into going abroad by the prospects of capital being put up by
foreign companies or sudsidies from foreign governments.
As the information in a form that Is most useful to you and is it free of errors
form
there are four different utilities
form place time and possession
The production of the product or service constitutes_____ ultiltiy
form utility
To help increase employee performance, a manager can use two kinds of appraisals—
formal and informal.
, is the process of getting oriented and getting acquainted.
forming
five stages of development:
forming, storming, norming, performing, adjourning
"4/10" workweek—
four 10-hour days per week.
, suggests that leadership behavior varies along a full range of leadership styles, from passive (laissez-faire) "leadership" at one extreme, through transactional leadership, to transformational leadership at the other extreme
full-range leadership
This is a basic human need that is practical and, in a sense, needed for survival.
functional need.
people attribute another person's behavior to his or her personal characteristics rather than to situational factors.
fundamental attribution bias,
-What goods and services will be produced? -How will the goods and services be produced? -Who will get the goods and services? -How will the system accommodate change? -How will the system promote progress?
fundamental questions
A graph of a program schedule
gannt chart
If the information coming into your decision making process is in bad form i.e. garbage in you're more than likely make a poor decision i.e. garbage out
garbage in garbage out G.I.GO
You may be able to control some forces in the task environment, but you can't control those in the _________environment. Nevertheless, they can profoundly affect your organization's task environment without your knowing it=
general
which includes six forces: economic, technological, sociocultural, demographic, political-legal, and international.
general environment, or macroenvironment,
—the metaphor for an invisible barrier preventing women and minorities from being promoted to top executive jobs.
glass ceiling
A brand marketed under the sane name in multiple countries with similar and centrally coordinated marketing programs
global brand
The practice of standardizing marketing activities when there are cultural similarities tihis is popular among many business to business markets
global marketing strategy
which combines (1) an openness to and awareness of diversity across cultures and markets with (2) a propensity and ability to see common patterns across countries and markets
global mind-set,
—the trend of the world economy toward becoming a more interdependent system.
globalization
Blue ocean strategy
go into uncontested market space don't compete
is defined as an objective that a person is trying to accomplish through his or her efforts.
goal
A customer's ability to buy is related to income which consists of
gross, disposable, and discretionary components
Increase market reach , product and service offerings, expand market share and so on seek orgnaztional growth by taking market share from the competition
grow
Your sales are rising , profits are rapidly rising , your consumers are early adopters and ealry majority and your competiors are few but increasing
growth Stages in the Product Life Cycle
Lower risk of services by offering
guarantees or warranties
, in which we form an impression of an individual based on a single trait
halo effect
Recruiting is of two types:
internal and external.
Describes this as specific operational assets of an organization
internal information
Engages in trade and marketing in different countries as an extension of the marketing strategy in its home country they market their products the same way internationally as they do in their home countrys
international firm
Service products are like an accounting audit , marketing report anything that is
intgable
Stages in the product life cycle
introduction , growth , maturity , decline
, is making a choice without the use of conscious thought or logical inference
intuition
Recognizes that people sort themselves into groups on the basis of things they'd like to do, how they like to spend their leisure time, and how they choose to spend their disposable income is called _____________ marketing prespective
lifestyle marketing perspective
indicates how much people believe they control their fate through their own efforts
locus of control
- A lot of___________ are deigned by pshylogist that tap into our minds mcdoalds are sppoused to be the streets are paved with goald starbucks in a syran to suduce you nike is greek god of vicotry
logos
, in which shared meanings are primarily derived from written and spoken words=
low-context culture.
the ________of an organization deal the operational details
lower levels
Programs that reward customers based on the amount of business they do with a particular organization are called
loyalty programs
Economic forces are
macro GDP, inflation, employment consumer income, gross, disposable, discretionary
Deals with the planning for development, management, and use of information technology tools to help people perform all tasks related to the information processing and management
management information systems MIS
Two branches of quantitative management are
management science and operations management.
passive leadership called the __________ style, managers do not intervene until problems are brought to their attention or until the problems become serious enough to demand action.72
management-by-exception
Under the BCG business portfolio analysis the vertical axis is the
market growth rate which is the annual rate of growth of the SBU's industry
One of the best ways to make sure you don't screw up is to do
market research
Involves aggregating prospective buyers into groups or segments that one have common needs into will respond similary every two and marketing action
market segmentation
Is the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry including the firm it self
market share
The activity, set of instructions, and processes for creating communicating, delivering and exchanging offerings that have value for customers clients partners society at large
marketing
Meausres of success then lead the markert to clear cut
marketing actions
Is a roadmap for the marketing activities of the organization for specified future time. Such as one year or five years
marketing plan
A plan that integrates the marketing mix to provide a good service or idea to prospective buyers
marketing program
Your sales have peaked your profits have peaked and start to decline your cusomter base is the late majority and you have a high number of competitors and competitive products
maturity Stages in the Product Life Cycle
Exteermits take say a in similler area change one varible and leave the controll
mcdonald
Veriozn and Att are tying to become big __________ companys and will be comepting
meida
which segments learning into bite-size content, enabling a student to master one piece of learning before advancing to anything else.
microlearning, or bite-size learning,
The relationship-oriented style works best in situations of
moderate control.
Many sellers compete with substitute products within a price range
monopolistic competition
approach is guided by respect for the fundamental rights of human beings
moral-rights
Firms selling consumer products or services often have _______ buyers then organizations
more
The ______common chores of today's self-managed teams are work scheduling and customer interaction, and the _______common are hiring and firing.
most , least
Soft drink segmentation Coke
mothership
Taylor based his system on _____________, in which he broke down each worker's job—moving pig iron at a steel company, say—into basic physical motions and then trained workers to use the methods of their best-performing coworkers
motion studies
or simply motivators, are factors associated with job satisfaction—such as achievement, recognition, responsibility, and advancement—all of which affect the job content or the rewards of work performance.
motivating factors,
Are combinations of the marketing mix that reflect the unique attitudes, ancestry, communication purposes, and lifestyles of different races and ethnic groups
multicultural marketing
Views the world as consisting of unique parts and markets to each part differently this is called _______ firms and they use __________ marketing stratgey
multinational firm , multidomestic marketing strategy
A_____________ is a nonprofit organization with operations in several countries.
multinational organization
Grey poupon is high class
mustard
Consumption of fixed capital/ depreciation
national income - net domestic product
In the Hofstede model US is -
ndividualistic and equali
People motivated by the _______________prefer working on challenging, but not impossible, tasks or projects. They like situations in which good performance relies on effort and ability rather than luck, and they like to be rewarded for their efforts. High achievers also want to receive a fair and balanced amount of positive and negative feedback. This enables them to improve their performance.
need for achievement
The initial setup in the purchase decision is perceiving a difference between a person's ideals and actual situations big enough to trigger a decision
need recognition
Networked global market place such as
nesty and m.gemi
Earnings per share =
net income -preferred stock dividends / Average common shares outstanding
Hear the organization is a first-time buyer of the product or service this involves greater potential risks and the purchase to the buying center is enlarged to include all those who have a stake in the
new buy
3 Buying classes are
new buy . Straight rebuy , modified Rebuy
Financial and legal system can cause problems in going into a
new market
Products that take a firm into a category new to it ___ % of new products
new to the firm products 20%
Inventions that create a whole new market is _% of the marker
new to the world (really new products , 10%
Soft drink segmentation Sprint
non coke market uncoala
We then address incentives: employees' (1) need for work-life balance, (2) need to expand their skills, (3) need for a positive work environment, and (4) need to matter—to find meaning in their work.
nonmonetary
the period in which a cost is incurred is_______________ the period in which cash changes hands.
not necessarily
Period costs are all the costs that are
not product costs.
Production and consumption are simultaneous while products are
not simultaneous
There are two ways to evaluate an employee's performance—
objectively and subjectively.
Tasks companies use to reduce perceived risk and encourage purchases
obtaining seals of approval, securing endorsements from influential people, providing free trials of the products, giving extensive usage construction, providing warranties and guarantees
Occurs when a few companies controlled majority of industry sales
oligopoly
, programs that help employees to integrate and transition to new jobs by making them familiar with corporate policies, procedures, cultures, and politics by clarifying work-role expectations and responsibilities
onboarding
Marketers use three approaches to try to change customers attitudes towards products and brands as shown in the following examples
one changing believes about the extent to which a brand has certain attributes 2. changing the perceived importance of attributes three adding new attributes to the products
Children learn how to purchase by
one interacting with adults in the purchase situation to their own purchasing and product usage experiences
Five situational influences have a impact on purchase decision processes
one the purchase task 2. social surroundings 3. physical surroundings 4. temporal effects 5. antecedent states
For marketing to occur at least four factors are required
one, two or more parties individuals or or organizations with unsatisfied needs two, a desire and ability on their part to be satisfied three, a way for the parties to communicate four, something to exchange
continually interacts with its environment.
open system
There are five basic behaviors that enable you to work on disagreements and keep them from flaring into out-of-control personality conflicts:
openness, equality, empathy, supportiveness, and positivenes
Skinner was the father of _________ the process of controlling behavior by manipulating its consequences
operant conditioning
Sometimes management science is called
operations research.
Individuals who exert direct or indirect social influence over others are calls
opinion leaders
Marketers are intrested in your
opnions and intrests
—situations that present possibilities for exceeding existing goals=
opportunities
the vendor is chosen , firm places the orde r the exact details of the purchase are specified all terms are detailed including payment
order specification step
transactional leaders try to get people to do
ordinary things,
Is a legal entity that consists of people who share a common mission
organization
Hierarchy of strategies Corp level,_______, Business level , ______, Opertional level ______
organization , sbu , business activity's
, which is dedicated to better understanding and managing people at work
organizational behavior (OB)
Are those manufactures wholesalers, retailers, government agencies that buy products and services for the own use or for resale
organizational buyers
Beginning in the later 1970s, researchers in equity theory began to expand into an area called __________, which is concerned with the extent to which people perceive they are treated fairly at work.
organizational justice
, helping the newcomer fit smoothly into the job and the organization.
orientation
, leaders are characterized as overseers who fail to create a sense of mutual trust, respect, or common fate. Subordinates receive less of the manager's time and attention than those in in-group exchange relationships.
out-group exchange
• —"What do you think you're getting out of the job?" The ___________that people receive from an organization: pay, benefits, praise, recognition, bonuses, promotions, status perquisites (corner office with a view, say, or private parking space), and so on.
outputs are the rewards
Number two soup in England is
oxtail soup
such as toth paste box and bottle = double adversitn Suti case with weels delta polit did it first Gatoraide had a handel on it Sleves of coke so you can get a few in your fridege at a time These are all examples of
packaging
—that is, a narrow view in which people see things solely through their own perspective =.
parochialism
Negotiation
party's meet and try to talk about a settlement
London is the largets finacal market after new york they have something called ________which allows them to trade with out tarrifs
pass port
which holds that the effective leader makes available to followers desirable rewards in the workplace and increases their motivation by clarifying the paths, or behavior, that will help them achieve those goals and providing them with support
path-goal leadership model,
Services can do off _____and ______pricing
peak
Soft drink segmentation Diet coke
people who are diet sensitive - female
Many businesses, small and large, are beginning to subscribe to a new standard of success—the triple bottom line, representing
people, planet, and profit
The process by which an individual sselects organizes and interprets information to create a meaningful picture of the world
perception
, members concentrate on solving problems and completing the assigned task.
performing
self - actualization needs Involve______ fulfillment needs
personal
How do people rationalize cheating? The justifications are mainly
personal and emotional:
such as relatives and friends in the consumer trusts
personal sources
The primary sources of external information are
personal sources, Public sources , Market dominated sources
consists of the stable psychological traits and behavioral attributes that give a person his or her identity
personality
—power directed at helping oneself—as a way of enhancing their own selfish ends may give the word power a bad name.
personalized power
making charitable donations to benefit humankind.
philanthropy,
Customer service and support functions are multi channel they've reach people by
phone, email, web, text message, Facebook and so
Such as Decore, music, and crowding in retail stores
physical surroundings
dimensions of diversity because they are not within our control, for the most part. Yet they strongly influence our attitudes, expectations, and assumptions about other people, which in turn influence our own behavior
primary .
Examples of_______are observed consumer behavior , focus group interviews , surverys , experiments
primary research
In the us the financial accounting standards board ( FASB) is the
primary standard setting body
someone who is more apt to take initiative and persevere to influence the environment.
proactive personality,
, difficulties that inhibit the achievement of goals:
problems
is a good service or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers needs and in exchange for money or something else of value.
product
Indirect materials are part of manufacturing overhead and thus are classified as a
product cost.
Dedicde target markets , postion it , desicde your marketing mix and your 4 p's in this stage
product lauch
The marketing mix is
product price promotion and place
- when white trash started using your brand and it trahsed its postiong this is called
product subversion
The four P's are
product, price, promotion, place
Covers the early years of the United States up until the 1920s goods were scarce and buyers willing to accept virtually any goods available and make do with them
production era in the 1920's
A good, service, or idea to satisfy the customers needs
products
Diffent life styles tend to spend there money on different
products
In traditional business accounting, the "bottom line" of a revenue-and-expenses statement is the organization's
profit (or loss)
Holds that companies have a simple duty to maximize profits for their owners or stockholders
profit responsibility
Business firms can pursue several different types of goals they are
profits, sales, market share, quality, customer satisfaction, Employee welfare, and social responsibility
Criminal Law
prohibits certain behavior.
Service company's have to ______them selves they have to say what their value propstion is , how convent they are
promote
In means of communication between the buyer and seller
promotion
• Communication by a marketer that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response _____________ or _______________
promotion or communicating value
total variable cost changes in
proportion to changes in the activity level.
. The declining economic activity are referred to as
recessions
Are people who've an individual looks as a basis for self appraisal or as a source of Personal standards
reference groups
And approach in which you allocate in terms of percentages how you will spend your IT dollars under various types of business strategies
run grow transform RGT framework
which says behavior with favorable consequences tends to be repeated, while behavior with unfavorable consequences tends to disappear.91
s law of effect,
professional associations tend to represent
salaried workers.
Contribution margin
sales - variable cost
in which sales representatives are paid a percentage of the earnings the company made from their sales,
sales commission,
CRM systems typically include such functions as
sales force automation, customer service and support, marketing campaign management, analytics
A __________is the trade prohibition on certain types of products, services, or technology to another country for specific reasons
sanction
—that is, managers seek alternatives until they find one that is satisfactory, not optimal
satisficing model
What are examples of Institutions
schools , museums , religious , non profits
, the process of reducing the number of tasks a worker performs.
scientific management
_____________dimensions of diversity because we have a greater ability to influence or control them than we do internal dimensions.
secondary
At mcdonalds you have directors of _____to makmize tartget makrets
segments
the screening of job applicants to hire the best candidate.
selection process,
EI is composed of four key components:
self-awareness, self-management, social awareness, and relationship management
assumes that people are driven to try to grow and attain fulfillment, with their behavior and well-being influenced by three innate needs: competence, autonomy, and relatedness.
self-determination theory
the extent to which people like or dislike themselves, their overall self-evaluation.
self-esteem,
Why Follett Is Important: With these and other ideas, Follett anticipated some of today's concepts of "__________________________________________________—that is, members of different departments working together on joint projects.
self-managed teams," "worker empowerment," and "interdepartmental teams"
Where in industry attempts to police itself this has to problems noncompliance by members and enforcement problems
self-regulation
, people tend to take more personal responsibility for success than for failure.
self-serving bias
Dells model is
sell , source , ship
All costs that are incurred to secure customer orders and get the finished product or service into the hands of the customer.
selling costs
Anything that can be marked and sold that is essentially intangible and does not result in a change of ownership it is heterogeneity
service
Branding is very important in
service market
perception of quality is based on price in
service marketing
You cannot patent
services
Pricing is a lot different in
servicing
Chances of new products assessed successes are increased by specifying both market and product goals
set marketing and product goals
Income statement
shows how successfully a business performed during a period of time — Summarizes all revenue and expenses for a period — If revenues exceed expenses, the result is net income — If expenses exceed revenue the result is net loss
(or contingency approach) to leadership, who believe that effective leadership behavior depends on the situation at hand.
situational approach
—how much control and influence a leader has in the immediate work environment
situational control
Is a collection of web based and mobile technologies that create true interactivity among users most usually allowing users to be both creators and consumers content
social media
Is a site on which you post information about yourself create a network of friends, it read about other people share content such as photos and videos and communicate with people
social networking site
is a manager's duty to take actions that will benefit the interests of society as well as of the organization
social responsibility
—power directed at helping others. This is the kind of power you hear in expressions such as "My goal is to have a powerful impact on my community."7
socialized power
Ethical firm not involved with the larger community
socially irresponsible but ethical
The view that organization should discover and satisfy the needs of its customers in a way that also provides for societies well-being this is called _________ marketing concept
societal marketing concept
Power distance - uncertanity avoidance - individuaism - masculinity - time orientation are examples of _______________ analysis
sociocultural
first five influence tactics—rational persuasion, inspirational appeals, consultation, ingratiation, and personal appeals—as "__________" tactics because they are friendlier than, and not as coercive as, the last four tactics
soft
—,deliberately working at less than full capacity.
soldiering
try to go into a politicaly ______country
stable
Focus on the obligations and organization has to choose who can affect achievement of its objectives these constituencies include consumers employees suppliers and the distributors this is called _____________ responabilty
stakeholder responsibility
—the people whose interests are affected by an organization's activities
stakeholders.
Are Sbu's use with a higher share of high-growth markets that may need extra cash to finance their own rapid future growth when the growth slows they are likely to become cash cows
stars
What info is needed to anwser specific research questions and how should that info be obtained is part of
step 1 in the marketing research process
Cost behavior patterns such as salaried employees are often called
step-variable costs.
Occurs when response elicited by one stimulus is generalized to another stimulus
stimulus generalization
The board of directors is chosen by the
stockholders
Is a tool used to store information for use at a later time
storage device
Here the buyer or purchasing manager waters in existing product or service from the list of acceptable suppliers probably without even checking with users or influencers
straight rebuy
describes the relationship of two organizations who join forces to achieve advantages neither can perform as well alone.
strategic allies
At the_ Manager set a more specific strategic vision for their businesses to exploit value creating opportunities
strategic business unit level
Among the key correlates of job satisfaction are
stronger motivation, job involvement, organizational commitment, and life satisfaction and less absenteeism, tardiness, turnover, and perceived stress.
Marketers what the jingle to be
stuck in your head
which are based on a manager's perceptions of an employee's (1) traits or (2) behaviors.
subjective appraisals,
—parts making up the whole system
subsystems
Involves the deliberate effort by organizational buyers builds relationships that sheet suppliers, products, services and capabilities
supplier development
Tracks inventory and information among businesses processes and across companies
supply chain management SCM
Before most important IT implementations of The business process companies can use to support their business strategies are
supply chain management, Customer relationship management, Enterprise resource planning, Social media
Peter ducker says all __ jobs will be outsourced =
support work such as information systems
Customer satisfaction can be measured by
surveys , customer complaints
With the latest resources of any segment focus on meeting basic needs safety and security rather than fulfilling desires they represent a modest market for most products and services and their loyalty favorite brands especially if they can be purchased at a discount
survivors
Are costs that make customers reluctant to switch to another product or service supplier this may not be hundred percent monetary
switching costs
- You know you have a powerful brand when you don't even need the name the________ is enough
symbol
The contemporary perspective (1960s-present) also includes three viewpoints—
systems, contingency, and quality-management.
The first law of business (and even nonprofits), we've said, is
take care of the customer.
The more Intagible your product the more ______ques you need.
tangbile
Doctor office , white jackets , clean , degree on the wall ,magazines can all make you feel better are all part of
tanglble cues
Is a tax on goods and services entering a country These give domestic product advantage over imported products by increasing prices
tariff
NAFTA been in place 20 years US , candna and Mexico are in it allows us to buy and sell across those country's with out
tariffs
The devices by which countries try to exert protectionism consist of
tariffs, import quotas, and trade embargoes and sanctions.
________environment consists of customers, competitors, suppliers, distributors, strategic allies, employee associations, local communities, financial institutions, government regulators, special-interest groups, and the mass media.
task
The external environment of stakeholders consists of the ________environment and the ______environment.
task genreal
is to ensure that people, equipment, and other resources are used in an efficient way to accomplish the mission of a group or organization
task-oriented leadership behaviors
is defined as a small group of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they hold themselves mutually accountable
team
Wired magazine target market
technogly
Knows how and when to apply technology
technology literate knowledge worker
Such as time of day or the amount of time available will influence where customers have breakfast and lunch in what is ordered
temporal effects
the five forces model helps people understand the relative attractiveness of an industry and industry competitive pressures in terms of the following five forces
the Buying power, supplier power , threat of substitute products or services, threat of new entrance, riveraly among existing competitors
Is a hardware that interprets and executes the system and application software instructions in court needs to operation of all the hardware
the Central processing unit CPU
The_for example establish the Federal Trade Commission to monitor unfair business practices the_has the power to one cease-and-desist orders to order corrective advertising
the FTC act of 1914
These act established that the consumer product safety Commission
the child protection act of 1996 the nutritional labeling and education act of 1990 and the consumer product act of 1972
Emphasizes that a managers approach should vary according to be contigent on the individual and environmental situation
the contgency viewpoint
Describes that distinct faces the family progresses through from formation to retirement each phase bringing with it identifiable purchasing behaviors
the family lifecycle
The NAICS is not available for all three countries because
the governments will not reveal data went to few organizations exist in that category
George Graen and Fred Dansereau, _______________________ emphasizes that leaders have different sorts of relationships with different subordinates
the leader-member exchange (LMX) model of leadership
Organizations develop offerings products, services, ideas they create value for both organizations and its customers by satisfying
the needs and wants
Regards the organization as systems of interrelated parts that operate together to achieve a common purpose
the systems viewpoint
Having been for a time a college president (at Antioch College in Ohio), Douglas McGregor came to realize that it was not enough for managers to try to be liked; they also needed to be aware of
their attitudes toward employees
Consumer demand for products and services is affected by
their price, availability, Personal taste, discretionary income
The marketing mix elements are called controllable factors because
they are under the control of the marketing department in an organization
Law of Unintended Consequences—
things happen that weren't foreseen
Undiffrented or mass market segmentation strategy is usefully for
things that are like commodities
are mature, reflective and well educated people value order knowledge and responsibility they are practical consumers and deliver information seekers who values durability and functionality of products over styling and newness
thinkers
The _____________the five forces model is high when it is easy for new competitors to enter a market and low when there're significant entry barriers to entering the market
threat of new entrance
Porters five forces
threat of new entrants , bargaining power of buyers , threat of substuite products or services , bargaining power of suppliers
. This individual difference indicates the extent to which a person has a high need for structure or control in his or her life.
tolerance for ambiguity
To find the Fixed cost (high low method )
total cost - variable cost element
In a________ the seller puts up an item for sale and would-be buyers are invited to bid with each other
traditional auction
- you need to have the same management _________you need to flat line varbailty in service marketing make it as consitient as possible
training
, which attempt to identify distinctive characteristics that account for the effectiveness of leaders.24
trait approaches to leadership
focusing on clarifying employees' roles and task requirements and providing rewards and punishments contingent on performance
transactional leadership,
The research shows that ____________leadership yields many positive outcomes. For example, it is positively associated with (1) measures of organizational effectiveness;99 (2) measures of leadership effectiveness and employee job satisfaction;100 (3) more employee identification with their leaders and with their immediate work groups;101 (4) commitment to organizational change;102 and (5) higher levels of intrinsic motivation, group cohesion, work engagement, setting of goals consistent with those of the leader, and proactive behavior.103 Emloyees also are less likely to quit when their manager displays transformational leadership.104
transformational
is an umbrella term for people whose sense of their gender differs from what is expected based on the sex characteristics with which they are born
transgender
Mediation
trys to help 2 party's settle their dispute Could be ordered by the cour
, which proposed that work satisfaction and dissatisfaction arise from two different factors—work satisfaction from motivating factors and work dissatisfaction from hygiene factors.
two-factor theory
Sometimes a company will find, as cigarette makers have, that the demand for their product has declined domestically but that they can still make money overseas. Or sometimes a company will steal a march on its competitors by aggressively expanding into foreign markets
why expand into new markets
The influencing of people during conversations is called it is very powerful because the information typically comes from Friends viewed as trustworthy
word-of-mouth
Use this color if you want to communicate Optimism, warmth is
yellow
credit means
you spent money
Annual increase in depreciation expense
{Annual depreciation expense on the new delivery equipment, $30,000} - {Annual depreciation expense on the old delivery equipment, $18,500}
Some of the core ERP functions found in successful ERP systems are the following=
• Accounting • Financials • Manufacturing • Production • Transportation • Sales and distribution • Human resources • Supply chain • Customer relationship • E-business
content perspectives include four theories:
• Maslow's hierarchy of needs theory. • McClelland's acquired needs theory. • Deci and Ryan's self-determination theory • Herzberg's two-factor theory..
An ERP system is required to have the following characteristics
• Modular design compromising many district business functions such as financial manufacturing and distribution • A centralized database that organizes and manages information • Flexible best practices • Functions that working real-time • Internet enabled
Some ways in which managers can build employee self-esteem are shown below
• Reinforce employees' positive attributes and skills. • Provide positive feedback whenever possible. • Break larger projects into smaller tasks and projects. • Express confidence in employees' abilities to complete their tasks. • Provide coaching whenever employees are seen to be struggling to complete tasks.
Research shows that followers seek and admire leaders who create feelings of
• Significance. Such leaders make followers feel that what they do at work is important and meaningful. • Community. These leaders create a sense of unity that encourages followers to treat others with respect and to work together in pursuit of organizational goals. • Excitement. The leaders make people feel energetic and engaged at work.120
behavioral leadership approaches can be divided into four categories
• Task-oriented behavior. • Task-oriented behavior • Relationship-oriented behavior.. • Passive behavior.
Makers read
automotive magazines
The people who make the buying decision
buying center
are additional nonmonetary forms of compensation
Benefits, or fringe benefits,
Analyzing the behavior of a typical or average consumer or firm
An economic model is a purposeful simplification of reality, whose function includes:
is a formal conversation between a manager and a departing employee to find out why he or she is leaving and to learn about potential problems in the organization
An exit interview
This is one past experience or knowledge is insufficient the risk of making a wrong purchase decisions high and in the cost of gathering information is low
An external search
Natural Law
An unjust law is no law at all.
As a tool used to enter information and commands
Input device
d
The business cycle depicts: A. fluctuations in the general price level. B. the phases a business goes through from when it first opens to when it finally closes. C. the evolution of technology over time. D. short-run fluctuations in output and employment.
consists of the beliefs and knowledge one has about a situation
The cognitive component of an attitude
Is high when buyers have many choices from who to buy and low when their choices are few
buying power
Macro environmental factors are things such as
culture, demographics, political/legal economic technological social
The internal response the customers have to all aspects of an organization and its offer
customer experience
South west airlines are a lot more fun and up beat. They are trained to promote the
customer experince
such as information from sellers including advertising company websites sales people and point-of-purchase displays and stores
Market dominated sources
are sets of behaviors that people expect of occupants of a position
Roles
are socially determined expectations of how individuals should behave in a specific position.
Roles
What Are the benefits of a Sole proprietorship
Simple to establish Owner controlled Tax advantages
is the tendency of decision makers to be influenced by the way a situation or problem is presented to them.
framing bias
the movement of goods and services among nations without political or economic obstruction
free trade,
Three concepts important in this view of human resource management are
human capital, knowledge workers, and social capital.
(directors) are elected from outside the firm.
outside directors
is defined as using suppliers outside the company to provide goods and services
outsourcing
Ford mustange evloved
over time
Michael Porter identified three approaches or strategies to beating the competition in any industry
overall cost leadership , differentiation Focus
Their ___________depends on how they feel about several components, such as work, pay, promotions, coworkers, and supervision
overall satisfaction
they have found that 30% of people spreading negative information about a product I have neve
owned or use the product service or brands
Stockholders equity
ownership claim on total assets or total assets minus total liabilities
Starbucks has different groups such as consumers package goods that handle
packaged store coffee
In ________, a manager is so frantic to get rid of the problem that he or she can't deal with the situation realistically
panic
Stare decisis
"Let the decision stand," that is, the ruling from a previous case.
Increasing employee psychological empowerment requires four kinds of behaviors—leading for
(1) meaningfulness, (2) self-determination, (3) competence, and (4) progress.
To result in high motivation and performance, according to recent research, goals must have a number of characteristics in goal-setting theory as follows.
1. Goals Should Be Specific 2,2. Certain Conditions Are Necessary for Goal Setting to Work 3. Goals Should Be Linked to Action Plans 4. Performance Feedback and Participation in Deciding How to Achieve Goals Are Necessary but Not Sufficient for Goal Setting to Work
Online buying in organizational markets is prominent for three reasons
1. organizational buyers depend heavily on timely supplier information that describes product availability, tech specifications, application uses, price the price and delivery this can be conveyed quickly via Internet technology 2. This technology has been shown to substantially reduce by order processing costs 3. Business markers have found the Internet technology can reduce marketing costs, practically sales and advertising expenses and broaden their potential customer base for many types of products and services
Early majority is ___% of the market
34%
Late majority is ___% of the market
34%
in which employees are appraised not only by their managerial superiors but also by peers, subordinates, and sometimes clients
360-degree assessment, or 360-degree feedback appraisal,
Diffrented segmentation strategy
4 is segmentation
A better-performing organization, weber felt, should have five positive bureaucratic features:
5. A well-defined hierarchy of authority. 6. Formal rules and procedures. 7. A clear division of labor, with parts of a complex job being handled by specialists. 8. Impersonality, without reference or connection to a particular person. 9. Careers based on merit.
is someone whose occupation is principally concerned with generating or interpreting information, as opposed to manual labor.
A knowledge worker
Statutes
A law created by legislative body.
consists of behavior that fosters constructive relationships among team members.
A maintenance role, or relationship-oriented role,
Harmless error
A mistake by the trial judge that was too minor to affect the outcome.
gives a candidate a picture of both positive and negative features of the job and the organization before he or she is hired.
A realistic job preview (RJP)
is the belief that differing traits and abilities make males and females particularly well suited to different roles.
A sex-role stereotype
____________ is a person or an organization that provides supplies—that is, raw materials, services, equipment, labor, or energy—to other organizations
A supplier, or vendor,
is a set of interrelated parts that operate together to achieve a common purpose.
A system
Probably the most common employment tests are the following.
Ability Tests, Performance Tests, Personality Tests
measure physical abilities, strength and stamina, mechanical ability, mental abilities, and clerical abilities
Ability tests
Annual Report has
Ability to pay near-term obligations ability to fund operations and expansion results of operations
A method for analyzing cost behavior in which an account is classified as either variable or fixed based on the analyst's prior knowledge of how the cost in the account behaves.
Account analysis
__________personal relationships are crucial to getting things done, you need to engage in small talk and avoid business talk during after-hours outings
Asia and the Middle East
Is one that a person wishes to be a member of a wishes to be identified with such as a professional society
Aspiration group
• —how confrontational and dominant should individuals be in social relationships? represents the extent to which a society expects people to be confrontational and competitive as opposed to tender and modest.
Assertiveness
A major reason for the population of America girl growing older is because of the
Baby boomers
The generation of children born between 1946- 1964
Baby boomers
Are used to fulfill and support customer orders and they also send all their customer information databases
Back office systems
stragteys is to put ATM's where ever you can put them.
Bank
do your employees strike and ______( french and very strong _________)
Boycott
is a technique used to help groups generate multiple ideas and alternatives for solving problems
Brainstorming
Popularity crated by consumer word-of-mouth
Buzz
Free Cash flow =
Cash provided by operations -capital expenditures - Cash Dividends
Why do we need to create new products =
Changing customer needs - such as personal computers Market Saturation - you cant sell any more Managing risk through diversity - apple is in risk of it with the iphone or uber with driverless cars Fashion Cycles - Change
you can brand a few products at once
Co branding -
is leader behavior that is concerned with group members' needs and desires and that is directed at creating mutual respect or trust
Consideration
There are four kinds of relationship-oriented behaviors:
Consideration • Empowering leadership • Ethical leadership • Servant leadership
The group of brands that you would consider from among all brands of which you are aware in the product class
Consideration set
Whats the advantge to customers of a brand
Consitinty , Quality
DI
DI=PI - personal taxes
Disposable income
DI=Savings + expenditures
Are facts that describe a particular phenomenon such as the current temperature the price of the movie rental or your age
Data
is the process of identifying and choosing alternative courses of action.
Decision making
-Retained earnings statement
Describes the event that caused changes in retained earnings for the period. - Add net income and subtract dividends form beginning balance of retained earnings to arrive at ending balance of retained earnings.
There are three major steps to follow when applying the Job Characteristics model.
Diagnose the work environment to see whether a problem exists., Determine whether job redesign is appropriate, Consider how to redesign the job
Is a clandestine collection of trade secrets or proprietary information about a company's competitors this is legal and ethical such as the legal trespassing, data, fraud, misrepresentation, wiretapping my Search of trash, violations of written and implicit employees agreement with not compete clauses
Economic espionage
consist of the general economic conditions and trends—unemployment, inflation, interest rates, economic growth—that may affect an organization's performance. These are forces in your nation and region and even the world over which you and your organization probably have no control, as happened in the Great Recession and its aftermath.
Economic forces
when supply chains , goalbal regulations are joined together
Economic integration
represents the extent to which our lives contain PERMA.
Flourishing
This was a period of increasing bursts which resulted from baby boomers having children is often referred to as the echo boom baby boomlet this generation influences on music, sports, computers, video games and all of communication and networking
Generation Y or millennial's
Millennial" generation, which includes the two parts dubbed
Generation Y, born 1977-1989, and Generation Z, born 1990-2000.
accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective.
Geocentric managers
to segments stand apart innovators are successful sophisticated take charge people with high self-esteem and abundant resources of all kinds images image is important to them not as evidence of power or status but as an expression of cultivated taste, independence, and character they are receptive to new ideas and technologies thee lives are characterized by varity
High and low resource groups
is the attitudes or beliefs that affect our understanding, actions, and decisions in an unconscious manner=
Implicit bias
How they deal with the discomfort of cognitive dissonance , he suggested, depends on three factors:=
Importance Control Rewards
Three Effective Reactions: Deciding to Decide
Importance. Credibility., Urgency
Current proidcuts made better % of new products
Improvements and revisions to existing products , 26%
all employees within a business unit are ranked against one another and grades are distributed along some sort of bell curve
In forced ranking performance review systems,
Various individuals' quantities demanded at each price level
In order to derive a market demand curve from individuals' demand curves, we add up the:
, the relationship between leader and follower becomes a partnership characterized by mutual trust, respect and liking, and a sense of common fates. Subordinates may receive special assignments and special privileges.
In the in-group exchange
Legal Positivism
Law is what the sovereign says.
—"Do my subordinates accept me as a leader
Leader-member relations
is the ability to influence employees to voluntarily pursue organizational goals
Leadership
is defined as motivating, directing, and otherwise influencing people to work hard to achieve the organization's goals.
Leading,
Branches of Government
Legislative Executive Judicial
Stock Holders equity
Net claim on total assets Common Stock- Investments of assets by stockholders in the company Retained earnings - Earnings retained for use in the business.
explain how managers make decisions; they assume that decision making is nearly always uncertain and risky, making it difficult for managers to make optimal decisions
Nonrational models of decision making
are general guidelines or rules of behavior that most group or team members follow
Norms .
Reversed
Nullified
- service marketing find ______that give you a competitive advantage. Such as no wait ER's
Process
The development of a more effective insecticide against corn rootworm
Refer to the figure above, which shows three supply curves for corn. Which of the following would cause the supply of corn to shift from S1 to S2? The development of a more effective insecticide against corn rootworm A change in consumer tastes away from cornbread A decrease in consumer incomes, assuming corn is a normal good An increase in the price of fertilizer
is power deriving from one's personal attraction.
Referent power
____neither permitted to compatibility across countries nor accurately measured new or emerging industries
SIC
Use the following five-step process to perform high-low method calculations:
Step 1: Select the two periods with the highest and lowest levels of activity. Step 2: Compute the change in cost and the change in activity between the two periods. Step 3: Divide the change in cost by the change in activity to derive your estimate of the variable cost per unit. Step 4: Multiply the low (or high) level of activity by the variable cost per unit. Subtract this amount from the total cost at the low (or high) level of activity to derive the fixed portion of the mixed cost. Step 5: Use the equation Y = a + bx to estimate the total mixed cost for any level of activity within the relevant range.
is the tendency to attribute to an individual the characteristics one believes are typical of the group to which that individual belongs
Stereotyping
is going into ittlay and they did market research finding they drink a lot of esporceso and they do so on the go
Strabucks
have to company's come together to help you go into another country
Strategic alliance
Is a subseries decision unit of an organization that markets a set of related offerings to a clearly defined group of customers
Strategic business unit SBU
consists of developing a systematic, comprehensive strategy for (a) understanding current employee needs and (b) predicting future employee needs
Strategic human resource planning
When an organization allocates its marketing mix resources to reach its target market
Strategic marketing process
Is in organizations long-term course of action design to deliver a unique customer experience while achieving its goals
Strategy
is the tension people feel when they are facing or enduring extraordinary demands, constraints, or opportunities and are uncertain about their ability to handle them effectively
Stress
are trendy fun loving and less self-confident than achivers they also have lower levels of education and household income money define success for them if they've a stylish products I learned posted as their financial circumstances permit
Strivers
reveals the extent to which team members rely on common task-related team inputs, such as resources, information, goals, and rewards, and the amount of interpersonal interactions needed to complete the work.
Team member interdependence
Survival Rules. For you, as a prospective manager, there are perhaps three ideas to take away from all this:
Teamwork and creativity. , Flexibility, Education
are new developments in methods for transforming resources into goods or services.
Technological forces
Refers to nnovations or inventions from applied science or engineering research
Technology
—working at home all or part time.
Telecommuting
Such as time of day or the amount of time available
Temporal effects
b
The four factors of production are: A. land, labor, capital, and money. B. land, labor, capital, and entrepreneurial ability. C. labor, capital, technology, and entrepreneurial ability D. labor, capital, entrepreneurial ability and money.
What I like to be on the receiving end this action
The golden rule test
Laissez-faire capitalism
The government may not implement policies intended to redistribute income in which of the following economic systems?
View the wolld as one market and emphasizes cultural similarties acorss countries or universal consumer needs and wants more then differences this is called _______ firms and they use __________ marketing stratgey
Transnational firms, global marketing stratgey
- the more we can try something the more we can accpect it
Trialability
What Are the disadvantages of a Corporation
Unfavorable tax treatment
Legal Realism
Who enforces the law counts more than what is in writing.
said to have more say when purchasing groceries, children's toys, clothing and medicine
Wifes
are driven by the needs of their children the make up a sizable market for life insurance there is children's products and home furnishings
Young married couples with children
are typically more affluent than young singles because. are usually employed these couples exhibit behaviors for furniture, housewares, and gift items for each other
Young married couples with out children
buying preferences are for nondurable items including prepared foods clothing personal care products and entertainment
Young singles
Soft drink segmentation Mr. Pibb
a bit different
when the credit exceeds the debit an account has
a credit balance
1st amendment
protects political speech
which states that three needs—achievement, affiliation, and power—are major motives determining people's behavior in the workplace.
acquired needs theory,
In____________ has 1. the task 2. the person responsible for completing that task 3. the date to finish the task 4. what is to be delivered
action item list
The rational model is prescriptive, describing how managers ought to make decisions. It doesn't describe how managers _______make decisions
actually
Line extensions and flankers that flesh out the product line in current markets ___ % of new products
additions to existing product lines 26%
, members prepare for disbandment
adjourning
All executive, organizational, and clerical costs associated with the general management of an organization rather than with manufacturing or selling
administrative costs
There are five conflict-handling styles, or techniques, a manager can use for handling disagreements with individuals:
avoiding, accommodating, forcing, compromising, and problem solving.
Advantges of secodnary research are
saves time and inexpesive (expect for syndicated data )
Three important concepts covered by EEO laws are
workplace discrimination, affirmative action, and sexual harassment,
Western products are marching products across the
world
During recessions this happens
businesses decreased production, unemployment rises, many consumers have less money to spend
Three types of selection tools are
background information, interviewing, and employment tests.
Tpp trans pacific partnership goal was to be a
balancing act against china
Little opportunity to test a service
before use
share holder
before ww2 responsible to share holder model
—their actions and judgments=
behavior
The marketing orientation results into these _________________ in which firms seek continuously to satisfy the high expectations of customers
customer relationship era
The Vals system seeks to explain why how
customers can purchase decisions
If you leave the EU you have to go back to _______ rules
world trade orgnaztion
is the shared set of beliefs, values, knowledge, and patterns of behavior common to a group of people.
culture
Soft drink segmentation Decfainited coke
caffeine sensitive market
And Information literate knowledge worker
can define what information is needed knows how and where to obtain information understand the information once it is received can act appropriately based on the information to help the organization achieve the greatest advantage
Are SBU's that generate large amounts of cash far more than they use they have dominant shares of slow growth markets and provide cash to cover the organizations overhead and to invest in other SBU's
cash cows
Which occurs when the charitable contributions of a firm are tied directly to consumer revenues produced through the promotion of one of its products
cause marketing '
Examples of secondary research are
census data , sales invoices , internet information , books , journal articles , syndicated data
Two contingency factors, or variables—employee _________________—cause some leadership behaviors to be more effective than others.
characteristics and environmental factors
a form of interpersonal attraction that inspires acceptance and support.
charisma
—which was assumed to be an individual inspirational and motivational characteristic of particular leaders
charismatic leadership
We find it easy to associate a brand with a
chather
Starbucks is pinning its future marketing on
china
Emphasis on ways to manage work more efficiently
classical view point 1911-1947
which emphasized finding ways to manage work more efficiently, had two branches—scientific and administrative
classical viewpoint,
The historical perspective (1911-1950s) includes three viewpoints—
classical, behavioral, and quantitative.
the study of how order and pattern arise from very complicated, apparently chaotic systems
complexity theory,
more brand names and use more mouthwash and toilet soaps
compliant people prefer
In , both parties give up something in order to gain something. Compromise is appropriate when both sides have opposite goals or possess equal power. But isn't workable when it is used so often that it doesn't achieve results—for example, continual failure to meet production deadlines. , says one writer, sometimes represents "the mistaken idea that any agreement is better than no agreement
compromising
Examples of _____research - this is also _______ data are experiments , surveys , panels , scanner
conclusive research , quantitative
Customers reactions determine wether or not it goes forward in ________ testing
conecpt
a Sunshine Act provision was written into the Affordable Care Act, requiring
drug companies to report payments to individual doctors.
The composition of the membership has also changed, with 45.8% of the unionized workforce now female and 52.4% of union members holding a
four-year college degree or more
Mixed cost formula
y=A+b(x) y is total cost A is fixed cost b is varible cost x the level of activity
A ____is how much did you sell like what are your numbers
yeild
Black Standers for
danger
Today's marketers use _________ would present information about an organization marketing metrics graphically so marketers can quickly spot deviations from the plans and take corrective actions
data visualization
The act of entering an amount on the left side of an account is called
debiting the account
In a double entery system,
debits and credits are made in the accounts for each transaction
, the practice of a foreign company's exporting products abroad at a lower price than the price in the home market—or even below the costs of production—in order to drive down the price of the domestic product
dumping
Quotas are designed to prevent
dumping,
is conflict that hinders the organization's performance or threatens its interests.
dysfunctional conflict
, the buying and selling of products and services through computer networks
e-commerce, or electronic commerce
The ______________________called materials requirement planning MRP the focus of MRP software did not focus on any type of service orientation but rather was developed to pride materials at the right time
early stage of EPR was in the 1970s
Examples of ________research are observations , in depth interviews , focus groups , social media
exploratory
Each of the five stages of consumer purchase decision process is used in considerable time and effort are devoted to the search for external information in and the identification and evaluation of alternatives several brands are in the consideration set and these are evaluated on many attributes this is called __________ probelm solving
extended problem solving
Describes the environment surrounding the organization
external information
If you have an _____ you believe external forces control you..
external locus of control,
which benefits the main purposes of the organization and serves its interests.
functional conflict,
In this buying situation users influencers or the deciders in the buying center want to change the product specifications such as price, delivery scheduled, or supplier although the item purchases are largerly the same as with streight rebuy the changes usually and nesscaite enlarging the buying center
modified rebuy
is a preference for doing one thing at a time. In this perception, time is viewed as being limited, precisely segmented, and schedule driven. This perception of time prevails, for example, when you schedule a meeting with someone and then give the visitor your undivided attention during the allotted time.187
monochronic time
Is a nongovernmental organization that serves its customers but does not have it profit as an organizational goal its goals may be operational efficiency or client satisfaction regardless in must receive sufficient funds above its expenses to continue operations
nonprofit organization
, conflicts are resolved, close relationships develop, and unity and harmony emerge.
norming
The high-low and least-squares regression methods estimate the fixed and variable elements of a mixed cost by analyzing
past records of cost and activity data.
l, which holds that the effective leader makes available to followers desirable rewards in the workplace and increases their motivation by clarifying the paths, or behavior, that will help them achieve those goals and providing them with support
path-goal leadership mode
ties employee pay to the number of job-relevant skills or academic degrees they earn
pay for knowledge
People who have achieved this level tend to follow rules and to obey authority to avoid unpleasant consequences. Managers of the Level 1 sort tend to be autocratic or coercive, expecting employees to be obedient for obedience's sake.
preconventional—follows rules.
Types of product positioning
premium , basic , durable
Types of price positioning
premium , low price , value
It's important to note that transactional leadership is an essential _________to effective leadership,
prerequisite
Sbu's use with a low share of high-growth markets that require large injections of cash just to maintain their market share much less increases the name implies managements the dilemma for these SBU's choosing the right once invested in phasing out the rest
question marks
Is an industrial buying practice in which two organizations I agree to purchase each others products and services
reciprocity
Use this color if you want to communicate Excitement bold
red
—the degree to which a test measures the same thing consistentl
reliability
product costs are not necessarily treated as expenses in the period in which they are incurred. Rather, they are treated as expenses in
the period in which the related products are sold.
The six tests of an ethical action
the publicity test, the moral mentor tests, the admired observer tests the transparency test, The person in the mirror test, The golden rule test
Three approaches
the quiality management viewpoint
is a trade agreement among 12 Pacific Rim countries it removes over time several further barriers to trade, including most tariffs, and sets commercial rules for everything from labor and environmental standards to drug patents=
trans-Pacific Partnership (TPP)
Step four in marketing research you can get
trend reports ,product testing, market research report on competors , pricing research
• Too much conflict—________. Excessive conflict, on the other hand, can erode organizational performance because of political infighting, dissatisfaction, lack of teamwork, and turnover. Workplace aggression and violence are manifestations of excessive conflict.81
warfare
Trveler magazine target market
welathy women
current state vs idea state
Need recognition
occurs when the primary goal is subsumed by a secondary goal.
Goal displacement
State trial
Need subject jurisdiction and subject matter jurisdiction
are defined as physiological or psychological deficiencies that arouse behavior.
Needs
is the process of strengthening a behavior by withdrawing something negative.
Negative reinforcement
, then, refers to educating technical and operational employees in how to better do their current jobs.=
Training
—upgrading skills of technical and operational employees
Training
is movement of an employee to a different job with similar responsibility.
Transfer
Innovate business processes and or products and services in a completely new way move into seemingly different markets and so on seek organizational growth through new and different meanings
Transform
17. processes are the organization's capabilities in management, internal processes, and technology that are applied to converting inputs into outputs .The main activity of the organization is to transform inputs into outputs.
Transformational
transforms employees to pursue organizational goals over self-interests.
Transformational leadership
, meaning they are involved in a chronic, determined struggle to accomplish more in less time
Type A behavior pattern
Its important to choose the right one so you dont have something bad
URL's
Organizational buyers include all buyers in the nation except
Ultimate consumers
are the people who use the products and services purchase four households
Ultimate consumers
• —how much should people rely on social norms and rules to avoid uncertainty? expresses the extent to which a society relies on social norms and procedures to alleviate the unpredictability of future events.
Uncertainty avoidance
b
Unemployment describes the condition where: A. equipment and machinery are going unused. B. a person cannot get a job but is willing to work and is actively seeking work. C. a person does not have a job, regardless of whether or not he or she wants one. D. any resource sits idle.
Sources of Contemporary Law
United States Constitution
Reduce a moral hazard problem
If Congress decreases the amount of government insurance on bank deposits, then this action would:
is concerned with work scheduling, production planning, facilities location and design, and optimum inventory levels.
Operations management
The potential benefit that is given up when one alternative is selected over another.
Opportunity cost
of the mind, which blunts bad feelings and smoothes out euphoric ones, can help make it easier for you to make difficult decisions.
"immune system"
is that some companies are moving production back home, because long supply chains can be easily affected by the whims of geopolitics and energy prices and the United States remains a manufacturing power for higher-value products
"reshoring" or "nearshoring" or "deglobalization,"
In accordance with most of the theories of motivation we described earlier, for incentive plans to work, certain criteria are advisable, as follows.
(1) Rewards must be linked to performance and be measurable. (2) The rewards must satisfy individual needs. (3) The rewards must be agreed on by manager and employees. (4) The rewards must be believable and achievable by employees.
there are four components of the implementation phase
1. attaining resources 2. designing and marketing organization 3. defining precise tasks, responsibilities and deadlines 4. actually executing the marketing program designed in the planning phase
a
" Refer to the diagram. An increase in quantity supplied is depicted by a: A. move from point y to point x. B. shift from S1 to S2. C. shift from S2 to S1. D. move from point x to point y. "
Strongly influenced by the firms in that industry
"Regulatory capture" refers to the situation where a government agency charged with supervising and regulating a particular industry is:
some are real barriers to high-quality decision making (as wePage 225saw in the Manager's Toolbox at the start of this chapter). Among those that tend to bias how decision makers process information are
(1) availability,(2) representativeness, (3) confirmation, (4) sunk cost, (5) anchoring and adjustment, (6) overconfidence, (7) hindsight, (8) framing, and (9) escalation of commitment.
so-called conflict triggers. Four of the principal ones are
(1) between personalities, (2) between groups, (3) betweencultures, and (4) between work and family responsibilities
Decision-making experts have developed several group problem-solving techniques to aid in problem solving. Three we will discuss here are
(1) brainstorming,(2) the Delphi technique, and (3) computer-aided decision making.
To create a learning organization, managers must perform three key functions or roles:
(1) build a commitment to learning, (2) work to generate ideas with impact, and (3) work to generalize ideas with impact.61
The most essential considerations in building a group into an effective team are
(1) collaboration, (2) trust, (3) performance goals and feedback,(4) motivation through mutual accountability and interdependency, (5) composition, (6) roles, and (7) norms.
The four perspectives on motivation are
(1) content, (2) process, (3) job design, and (4) reinforcement,
There are six sources of stress on the job:
(1) demands created by individual differences, (2) individual task demands, (3) individual role demands, (4) group demands, (5) organizational demands, and (6) nonwork demands.
Steave jobs seemed to embody the traits of
(1) dominance, (2) intelligence, (3) self-confidence, (4) high energy, and (5) task-relevant knowledge.
hree types of attitudes managers are particularly interested in are
(1) employee engagement, (2) job satisfaction, and (3) organizational commitment.
The Big Five personality dimensions are
(1) extroversion, (2) agreeableness, (3) conscientiousness, (4) emotional stability, and (5) openness to experience.
Four steps in making a rational decision are
(1) identify the problem or opportunity, (2) think up alternative solutions, (3) evaluate alternatives and select a solution, and (4) implement and evaluate the solution chosen.
Hofstede model of four cultural dimensions, which identified four dimensions along which national cultures can be placed:
(1) individualism/collectivism, (2) power distance, (3) uncertainty avoidance, and (4) masculinity/femininity.169
MBO, you'll recall, is a four-step process in which
(1) managers and employees jointly set objectives for the employee, (2) managers develop action plans, (3) managers and employees periodically review the employee's performance, and (4) the manager makes a performance appraisal and rewards the employee according to results.
Among the types of behavior are
(1) performance and productivity, (2) absenteeism and turnover, (3) organizational citizenship behaviors, and (4) counterproductive work behaviors.
Two nonrational models are
(1) satisficing and (2) intuition.
You can apply acquired needs theory by appealing to the preferences associated with each need when you
(1) set goals, (2) provide feedback, (3) assign tasks, and (4) design the job.
Although there are other types of distortion in perception, we will describe the following:
(1) stereotyping, (2) implicit bias, (3) the halo effect, (4) the recency effect, and (5) causal attribution.
Let's consider two situational approaches:
(1) the contingency leadership model by Fiedler and (2) the path-goal leadership model by House.
Employees might be transferred for four principal reasons:
(1) to solve organizational problems by using their skills at another location; (2) to broaden their experience in being assigned to a different position; (3) to retain their interest and motivation by being presented with a new challenge; or (4) to solve some employee problems, such as personal differences with their bosses
NDP
(Net Domestic Product) NDP=GDP-depreciation
Events is the finical position
(assets, liabilities , or stockholders' equity) of the company changed.
(_________directors) may be top executives of the firm.
(inside directors)
Concertrated segmentation stratgey
- when you foucs on one thing
Luckymagazine target market
- young professionl women
Fayol was not the first to investigate management behavior, but he was the first to systematize it. A French engineer and industrialist, he became known to American business when his most important work was called
, General and Industrial Management,
Some suggestions for using punishment are as follows
, Punish only undesirable behavior., Give reprimands or disciplinary actions as soon as possible, Be clear about what behavior is undesirable, Administer punishment in private. ,Combine punishment and positive reinforcement
These things are crucial in internation business
, face to face , Understanding the Local Culture , Leisure Time Can Be Used to Make New Contacts
Jurisdiction
- A court's power to hear a case
- Operating Activities cash flow
- Cash inflows and cash outflows associated with the primary operations of the business. - Intended to indicate the cash generating capability of a company - Cash provided by operating activities. Fails to take into account that a company must invest in new property plant and equipment to maintain its current level of operations and maintain dividends at current levels to satisfy investors.
The accounting information system
- Collects and processes transaction data - Communicates financial information to decision makers
Trial courts
- Determine the facts of a particular dispute and apply to those facts the law given by earlier appellate court decisions.
-A Ratio
- Expresses the mathematical relationship between one quantity and another
Two techniques that enables managers to to set a direction for the firm and allocate resources to move in that direction are
1. business portfolio analysis and 2 diversification analysis
- Key associtations of a product in a very compact and economical fashion
- Key associtations
-Profitability Rations
- Measure the income or operating success of an enterprise for a given period of time.
Brand Loyalty - How loayal are you Three levels of loyalty
1. Internlaztion (nothing will shake you) 2. Compliance or conformity ( you do it because eveyrone else does and you can be switched ) 3. Utilitatn ( you are only loyal because there's some benefit or disadvtage but will switch in a second )
Statement of stockholders equity
- Reports all changes in stock holders equity accounts including: Insurance of common stock , retirement of common stock, changes in retained earnings. -An analysis of the relationship between a companies assets and liabilities about liquidity and solvency.
Bon magazine target market
- foodies
Transaction
-Events that must be recorded in the finical statements
Materiality
-Relates to a financial statement items impact on a company's overall financial condition and operations. - An Item is material if it can influence the decision of an investor or creditor - Companies do not have to follow GAAP For small amounts
Transaction analysis
-The process of considering the transaction or event that has taken place and identifying how the transaction is going to impact the accounting equation
Goal setting helps motivate you by doing the following:
1. It Directs Your Attention , 2. It Regulates the Effort Expended 3. It Increases Your Persistence 4. It Fosters Use of Strategies and Action Plans
In order of importance, you as a manager want to motivate people to:
1. Join your organization. 2. Stay with your organization. 3. Show up for work at your organization. 4. Be engaged while at your organization. 5. Do extra for your organization
If you target elite in the shoe market
-perffiomce Compfort , padding ,
Soft drink segmentation Coke Zero
-young guys that wont drink diet coke and don't want the calories
There are four defective problem-recognition and problem-solving approaches that act as barriers when you must make an important decision in a situation of conflict. They are
. Relaxed Avoidance, Relaxed Change , Defensive Avoidance , Panic
Marketing research process Steps
1 Define problem 2. devolp the research plan 3. collect relevant data 4. Devolve findings 5. Take marketing actions
Is the purchase decision process is
1. Need recognition 2. information search 3. alternative evaluation 4. purchase decision and 5. post purchase behavior
Most commonly used organization buying criteria Suppliers that meet or exceed these criteria create customer value
1. Price 2. Ability to meet the quality specifications required for the item 3. The Ability to meet required delivery schedules 4. Technical capability 5. Warranties and in claim policies in the event of poor performance 6. Past performance on previous contracts 7. Production faculties and capacity
The following four strategies are used to stimulate constructive conflict.
1. Spur Competition among Employees 2. Change the Organization's Culture and Procedures 3. Bring In Outsiders for New Perspectives 4. Use Programmed Conflict: Devil's Advocacy and the Dialectic Method
Steps in STP is
1. Swot 2. Segmentation methods 3. evaulate segment attractiveness 4. Select traget market 5 . identify and develop positioning strategy
What Managers Need to Know about Groups and Decision Making
1. They Are Less Efficient, 2. Their Size Affects Decision Quality, , 3. They May Be Too Confident, 4. Knowledge Counts
These economic considerations are important when going into a new market
1. an assessment of the economic infrastructure in these countries 2. measurement of consumer income in different countries and 3. recognition of a country's currency exchange rate
Nonmanufacturing costs are often divided into two categories: (.
1) selling costs and (2) administrative costs
both transactional and transformational, there are three important implications of transformational leadership for managers, as follows.
1. 1. It Can Improve Results for Both Individuals and Groups 2. 2. It Can Be Used to Train Employees at Any Level 3. 3. It Requires Ethical Leaders
Ways to Build Cross-Cultural Relationships
1. Be a good listener. 2. Be sensitive to others' needs. 3. Be cooperative, not overly competitive 4. Advocate inclusive (participative) leadership.. 5. Compromise rather than dominate. 6. Build rapport through conversations. 7. Be compassionate and understanding. 8. Avoid conflict by emphasizing harmony 9. Nurture others (develop and mentor)..
- Often Captures the central theme - Key associtations of a product in a very compact and economical fashion - Extermely effective means of communication - Register its meaning or activate it in memory in just a few seconds
1. Brandname
Assumptions of the Rational Model
1. Complete information, no uncertainty: 2. Logical, unemotional analysis: 3. Best decision for the organization
Are designed to guide the use of direct mail, telemarketing, email solicitation and other forms of motion
1. Deceptive mail prevention and enforcement act 1999 2. , the telephone consumer protection act 1991, 3. the controlling the salt of non-solicited pornography and marketing act 2004
Five practical lessons can be drawn from equity and justice theories, as follows.
1. Employee Perceptions Are What Count 2. Employees Want a Voice in Decisions That Affect Them. 3. Employees Should Be Given an Appeals Process 4. Leader Behavior Matters 5. A Climate for Justice Makes a Difference
Number of ways to go into a market (least to most investment )
1. Exporting, licensing , Strategic alliance , Joint venture, Direct investment
Ten Characteristics of the Servant Leader
1. Focus on listening 2. Ability to empathize with others' feelings 3. Focus on healing suffering 4. Self-awareness of strengths and weaknesses 5. Use of persuasion rather than positional authority to influence others 6. Broad-based conceptual thinking 8. Believe they are stewards of their employees and resources 7. Ability to foresee future outcomes 9. Commitment to the growth of people 10. Drive to build community within and outside the organization
Lowest risk to highest risk of expanding internationally
1. Global outsourseing 2. Importing ,Exporting and countertrading 3. licensing and franchising 4. Joint ventrures 5. Wholly Owned subsifaries
Brand Equity most valuebale brand list them
1. Google 2. Apple 3. Amazon 4. ATT( because they are buying Time wanner and Direct TV) 5. Microsoft 6. Samsung 7. Verizon (just bought Aol and yahoo) 8. Walmart Facebook (intsagram and whats app is owned by facebook )
Three types of companies populate and compete in the golbal marketplace
1. International firms 2. multinational firms 3. transantional firms
is a trae barrier in the form of a customs duty, or tax, levied mainly on imports.
A tariff
consists of behavior that concentrates on getting the team's tasks done.
A task role, or task-oriented role,
is a group of nations within a geographical region that have agreed to remove trade barriers with one another.
A trading bloc, also known as an economic community,
is an employee, or even an outside consultant, who reports organizational misconduct to the public,
A whistle-blower
is a foreign subsidiary that is totally owned and controlled by an organization.
A wholly-owned subsidiary
How to Manage Millennials
Allow them independent decision making and expression. 2. Train them and mentor them. 3. Give them constant feedback and recognition 4. Provide them with access to technology. 5. Create customized career paths
Conservatism
Allows the accountant to chose the accounting method to overstate assets and income. - Requires that when the market value of inventory exceeds cost the inventory is not increased but instead it is kept at cost - Requires that companies write down inventory to market value if it is below cost.
Time Period Assumption
Allows the life of the business to be divides into artificial time periods these periods can be months , quarters , semi annual periods or annual periods as required by the business to evaluate its operations.
- you test it on your on employees
Alpha Testing
is the satisfaction, such as a feeling of accomplishment, a person receives from performing the particular task itself.
An intrinsic reward
dilvers there products in india by moter bikes or bikes in back backs
Amaazon
The decline in manufacturing jobs in the United States is partly attributable to the fact that
American companies have found it cheaper to do their manufacturing =outside the States.
which prohibits discrimination against the disabled
Americans with Disabilities Act (ADA),
Movement up along the supply curve
An "increase in the quantity supplied" suggests a:
Administrative law judge
An agency employee who acts as an impartial decision maker.
is the payoff, such as money, a person receives from others for performing a particular task
An extrinsic reward
is a trade barrier in the form of a limit on the numbers of a product that can be imported.
An import quota
is a group formed by people whose overriding purpose is getting together for friendship or a common interest.
An informal group
Property, Plant and equipment
Assets with long useful lives that are used in the business Examples include land , buildings , machinery delivery equipment and furniture and fixtures Most property, plant and equipment assets are deprecated and charged to the income statement as an expense to indicate their contribution to the revenue producing process for the period. Land is not Depreciated.
basic accounting equation.
Assets= Liabilities + stock holders equity
Going Concern Assumption
Assumes business will be in existence for the foreseeable future Allows use of capitalizing cost when the recording assets.
The knowledge of and courtesy by employees `and their ability to convey trust and confidence
Assurance
Buyer and the seller
Asymmetric information in a market transaction occurs when there is unequal knowledge possessed by the: Buyer and the government Seller and the government Taxpayer and the government Buyer and the seller
Why, then, do companies expand internationally
Availability of Supplies, New Markets, Lower Labor Costs, Access to Finance Capital, Avoidance of Tariffs and Import Quotas
is ignoring or suppressing a conflict. is appropriate for trivial issues, when emotions are high and a cooling-off period is needed, or when the cost of confrontation outweighs the benefits of resolving the conflict. It is not appropriate for difficult or worsening problems.
Avoiding
All the organization that you know of
Awareness set
consists of the basic wage or salary paid employees in exchange for doing their jobs
Base pay.
• signs. Behavioral symptoms include sleeplessness, changes in eating habits, and increased smoking/alcohol/drug abuse. Stress may be revealed through reduced performance and job satisfaction.
Behavioral
measure specific, observable aspects of performance—being on time for work, for instance—although making the evaluation is still somewhat subjective. An example is the
Behavioral appraisals. , behaviorally anchored rating scale
grouping customers based on actual customer behavior toward products and services such as brand loylaty , benefits sought , user status , usage rates , occasion , readniess to buy
Behavioral segmentation
- you pick some of your best customers and have them try it out
Beta testing
is the dollar number that markeerts put on a brand.
Brand Equity or brand value
People like coke but feel bad about drinking so much so they make mini cokes
Brand Extensions
- such as value , speed , consistently, bathrooms every brand is messaging its assocation toward us Do you belive in them
Brand association
how much exposure infuclece , engagement , action does your company have
Brand awareness
if you try to extend your brand into another market and your customers don't like it
Brand diultion
- when you licesning your logo to other suppliers
Brand licesing
Which is a favorable attitude toward and consistent purchase of a single brand overtime
Brand loyalty
Components of a Brand
Brandname , URL's , Logo Symbols ,Characters , Color
BRICS stands for the five major emerging economies of
Brazil, Russia, India, China, and South Africa.
__________the Uk voted to leave EU in june politcly and econmicly they will no logner have free trade with the rest of eroupe it's the 2ed largest marktet in eurpoe
Brexit
is repeated mistreatment of one or more persons by one or more perpetrators; it is abusive physical, psychological, verbal, or nonverbal behavior that is threatening, humiliating, or intimidating.
Bullying
Describes the clear, broad, underlying industry or market sector organizations offering
Business
Compromise the effective rules of the game, the boundaries between competitive and unethical behavior, the codes of conduct in business dealings
Business cultures
Is collective information about your customers, your competitors, your business partners, or competitive environment, and you own internal operations that gives you the ability to make effective, important, and often strategic decisions
Business intelligence
Is the marketing of products and services to companies governments or non-for profit organizations for use in the creation of goods and services that they can produce and market to others
Business marketing
_______, Not Things' type of stories that can give retailing executives nightmares
Buy Experiences
________have formal authority and responsibility to select the supplier and negotiate the terms of the contract
Buyers
This act forbids certain actions that are likely to lessen competition although no actual harm has yet occurred
Clayton act of 1914
refers to major changes in temperature, precipitation, wind patterns, and similar matters occurring over several decades.
Climate change
which all managers have, results from managers' authority to punish their subordinates.
Coercive power,
consists of negotiations between management and employees about disputes over compensation, benefits, working conditions, and job security
Collective bargaining
is there a trust worthy banking systems in the country can we bill and will they pay
Commerce
Investments in facilities, equipment, and basic organizational structure that can't be significantly reduced even for short periods of time without making fundamental changes.
Committed fixed costs
A cost that is incurred to support a number of cost objects but that cannot be traced to them individually.
Common cost For example, the wage cost of the pilot of a 747 airliner is a common cost of all of the passengers on the aircraft. Without the pilot, there would be no flight and no passengers. But no part of the pilot's wage is caused by any one passenger taking the flight.
you need to have Communication such as phone , internet , electric what do you need
Communication
Commercial speech
Communication, such as advertisements, that has the dominant theme of proposing a business transaction.
Consistency
Company uses same accounting methods form year to year.
The in immediate environment includes
Company, competition, corporate partners, consumers
• —"How do you think your ratio of inputs and rewards compares with those of others?" Equity theory suggests that people compare the ratio of their own outcomes to inputs against the ratio of someone else's outcomes to inputs. When employees compare the ratio of their inputs and outputs (rewards) with those of others—whether coworkers within the organization or even other people in similar jobs outside it—they then make a judgment about fairness.
Comparison
if we feel compatbilale with a product it the more likely it will get into thje main stream such as snap chat glasses
Compatbilty
What things help get over the casum 4 things
Compatbilty , Observability , Trialability , Relative Advantage
24. —"I want to feel a sense of mastery." People need to feel qualified, knowledgeable, and capable of completing a goal or task and to learn different skills.
Competence
are it's special compatibilities the skills, technologies and resources that distinguish it from other organizations and provide customer value
Competencies
Refers to the alternative firms that could provide a product to satisfy a specific markets needs
Competition
b
Competition means that: A. sellers can manipulate market price by causing product scarcities. B. there are independently acting buyers and sellers in each market. C. a product can be purchased at a number of different prices. D. there is more than one seller in a market.
Is providing a product or service in a way that customers value more than what your competition is able to do
Competitive advantage'
Operating activités
Comprise the primary activities for which the organization is in business
- is a breif paper give it out to other customers to see if they like it
Concept Testing
is a process in which one party perceives that its interests are being opposed or negatively affected by another party.73
Conflict
1. the right to safety 2. the right to be informed 3. right to choose and 4. the right to be heard
Consumer Bill of Rights
A grassroots movement started in nineteen sixtis to increase influence, power, and rights of consumers in dealing with institutions
Consumerism
, are theories that emphasize the needs that motivate people.
Content perspectives, also known as need-based perspectives
An income statement format that organizes costs by their behavior. Costs are separated into variable and fixed categories rather than being separated into product and period costs for external reporting purposes.
Contribution approach
The amount remaining from sales revenues after all variable expenses have been deducted.
Contribution margin
Direct labor cost plus manufacturing overhead cost.
Conversion cost
is secured automatically when the work is created
Copyright
Are the fundamental passionate and enduring principles that guide its conduct overtime
Core values
Is the set of values and ideas and attitudes that is learned and shared among members of an organization
Corporate culture
Is where top management directs overall strategy for the entire organization
Corporate level
are firms that are part of alliances such as partners suppliers
Corporate partners
The way in which a cost reacts to changes in the level of activity
Cost behavior
Anything for which cost data are desired. Examples of cost objects are products, customers, jobs, and parts of the organization such as departments or divisions.
Cost object
Liabilities
Creditors claims (obligations or debts of the business ) on total assets for resources or services provided to the business in the past
These consist of a small number of people from different departments who are mutually accountable to accomplish a task or a common set of performance goals
Cross functional teams
are designed to include members from different areas within an organization, such as finance, operations, and sales.
Cross-functional teams
when you move a product into the main stream
Crossing the chasm
Global envieronmental scan includes
Economic analysis using metrics , sociocultural analysis, infrastructure and tech , government actions
Who make decisions regarding what to produce and how it is produced
Economic systems differ from one another based on who own the factors of production and:
Some rewards of CRM is competitive advantage deuce. Performance in CRM functions such as
Devising more effective marketing campaigns based on more precise knowledge of customers needs and wants, Assuring that the sales process is efficiently managed, providing superior after sales service and support for example through well-run call centers
A difference in cost between two alternatives.
Differential cost
The difference in revenue between two alternatives.
Differential revenue
Is defined by Porter as offering a product or service that is perceived as being unique in the marketplace
Differentiation
- how long it takes to get through the stages you may not get though all the stages
Diffusion of innovation (product life cycle)
This act improves the protection of copyrighted Digital Products
Digital millennium copyright act 1998
__________ contactts Include the customers context of the seller through buying using and obtaining the service
Direct contacts
A cost that can be easily and conveniently traced to a specified cost object.
Direct cost
go into a country build their own plants '
Direct investment
Factory labor costs that can be easily traced to individual units of product. Also called
Direct labor , touch labor
How much are the total variable costs?
Direct materials + Direct labor + Sales commissions + Shipping costs + Factory equipment lubrication supplies
what are Prime cost
Direct materials cost plus direct labor cost
b
Economics may best be defined as the: A. interaction between macro and micro considerations. B. social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity. C. empirical testing of value judgments through the use of logic. D. study of why people are rational.
Pertains to the income and expenditures and resources that affect the cost of running the business and household
Economy
What Are the disadvantages of a Partnership
Disadvantages Partners personally Liable Transfer of ownership may be difficult
are may not be relevant to info needs info may not be timely , may not be originall , data may be biased , methodlogies for collecting data may not be appropriate
Disadvantges of secondary research
Those fixed costs that arise from annual decisions by management to spend on certain fixed cost items, such as advertising and research.
Discretionary fixed costs
The money that remains after paying for taxes and necessities
Discretionary income
results when employees from protected groups (such as disabled individuals) are intentionally treated differently
Disparate treatment
Is them is the money a consumer has left after paying taxes to use for necessities such as food housing clothing in transportation
Disposable income
you need wherehouses , stuff like that
Distrbtuion channe
Is the path a product or service follows on the originator of the product or service to the end consumer
Distribution chain
• —"How fairly are rewards being given out?" reflects the perceived fairness of how resources and rewards are distributed or allocated.
Distributive justice
Is a marketing strategy of developing new products and selling them in new markets
Diversification
Is a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products
Diversification analysis
represents all the ways people are unlike and alike—the differences and similarities in age, gender, race, religion, ethnicity, sexual orientation, capabilities, and socioeconomic background.
Diversity
is a subcomponent of an organization's overall climate and is defined as the employees' aggregate "perceptions about the organization's diversity-related formal structure characteristics and informal values.
Diversity climate
which began in , Qatar, in 2001, aimed at helping the world's poor by, among other things, reducing trade barriers, including improving customs rules and procedures. However, after 14 years of talks, the Doha Round was effectively ended—unsuccessfully, because of trade ministers' inability to agree on how to lower trade barriers, contribute to development in poor nations, and other issues.
Doha Round,
Is a need to lose an individual to an action such as hunger
Drive
four variables are essential to how consumers learn from repeated experience
Drive cue ,response and reinforcement
_______means that demand for industrial products and services is driven by or derived from demands for consumer products and services
Drive demands
5th amendment
Du process - before government can take property they have to follow procerdeces
suggests that employees can be motivated by goals that are specific and challenging but achievable is useful only if people understand and accept the goal
Goal-setting theory
Go buy a variety of names they make it possible for real-time exchange information, money, products, and services
E market places Business to business exchanges, e hubs
sometimes have features such as one thousands of geographically dispersed buyers and sellers to violet prices caused by demand and supply fluctuations Time sensitivity due to perishable offerings and technologies easily comparable offerings between a variety of sellers
E marketplaces
Is that includes all technology systems and software any organization
EPR system Enterprise resource planning system
Consists of 27 member countries that have eliminated the barriers to free flow of goods, services, capital and labor this has more than 500 million consumers within combines GDP larger than that of the United States 17 of the member countries have adopted the euro as well this is Called the
EU or European Union
Precedent
Earlier decisions by the state appellate courts on similar issues.
- people who like to get things early but arent on the bleeding edge - 13.5 % of the market
Early adopter
What Are the benefits of a Corporation
Easy to transfer ownership Greater capital raising potential lower legal liability
General ecnomic envierment, market size and population growth , real income, are all apart of _____________ analysis
Economic analysis using metrics
is behavior that is accepted as "right" as opposed to "wrong" according to those standards.
Ethical behavior
is defined as "leadership that is directed by respect for ethical beliefs and values for the dignity and rights of others.
Ethical leadership
represents normatively appropriate behavior that focuses on being a moral role model.
Ethical leadership
are the standards of right and wrong that influence behavior
Ethics
believe that their native country, culture, language, and behavior are superior to all others.
Ethnocentric managers
is the belief that one's native country, culture, language, abilities, or behavior is superior to those of another culture.
Ethnocentrism
Formed in 1957, the consists of 28 trading partners in Europe, covering nearly 500 million consumersNearly all internal trade barriers have been eliminated (including movement of labor between countries), making the EU a union of borderless neighbors and the world's largest free market, with a gross domestic product of $18.12 trillion in 2014, exceeding that of the United States ($17.35 trillion).141
European Union (EU)
Will it make enough money , did the customer accept it , did it satisfy the tech requirements
Evaluation of results
means translating principles based on best evidence into organizational practice, bringing rationality to the decision-making process.
Evidence-based management
Which is the trade of things of value between a buyer and the seller so that each is better off after the trade
Exchange
Checks and Balances
Executive Branch can veto bills from the Legislative Branch, but the Legislative Branch can override the veto. with 2/3's vote
is the belief that a particular level of effort will lead to a particular level of performance.
Expectancy
are young enthusiastic and impulsive consumers become excited about new possibilities equally quick to cool they savor the new the off beat and the risky their energy finds an outlet in exercise, sports, outdoor recreation and social activities Much of their income is spent on fashion items entertainment and socializing critically I'm looking that it having the latest things
Experiencers
the least often used methos is a research techique in which a researcher observes the resurlts of chnaging one or more marketing variables whole keeping certain other variables constant under controlled conditions
Experimental method =
Make evrything here but just expotit is called
Exporting
. is defined as a government's seizure of a domestic or foreign company's assets.
Expropriation
a few generations living in one house
Extended family
include an element of choice; they consist of the personal characteristics that people acquire, discard, or modify throughout their lives:
External dimensions of diversity
means attracting job applicants from outside the organization.
External recruiting
is the weakening of behavior by ignoring it or making sure it is not reinforced.
Extinction
—satisfaction in the payoff from others.
Extrinsic rewards
• . How outgoing, talkative, sociable, and assertive a person is.
Extroversion
Which Jobs Will Remain in the United States?
Face-to-face, Physical contact., Making high-end products, Recognizing complex patterns.
established minimum living standards for workers engaged in interstate commerce, including provision of a federal minimum wage
Fair Labor Standards Act of 1938
Cases that the federal court hears.
Federal question Cases Diversity cases Comes from different states And amount exceeds 75,000
describes the extent to which workers receive clear, direct information about how well they are performing the job.
Feedback
make no modfcations or minor and sell it every where
Global stagey
is based on the assumption that people are underutilized at work and that they want more variety, challenges, and responsibility. This philosophy, an outgrowth of Herzberg's theory, is one of the reasons for the popularity of work teams in the United States.
Fitting jobs to people
is based on the assumption that people will gradually adapt to any work situation. Even so, jobs must still be tailored so that nearly anyone can do them. This is the approach often taken with assembly-line jobs and jobs involving routine tasks.
Fitting people to jobs
A cost that remains constant, in total, regardless of changes in the level of activity within the relevant range. If a fixed cost is expressed on a per unit basis, it varies inversely with the level of activity
Fixed cost
As a strategy is usually defined as following up on offering products and services one to a particular market segment or buy a group 2. within the segment of a product line and or 3 to a specific geographic market
Focus
A research method that brings together a group of consumers to disucess the product or advertsing , under the guidence of a trained interviewer the marketers will trial run there product used a lot for toys
Focus group
Debts ( Normal Balance )
For Assets ,, increase assets , decrease liabilities
C
For economists, the word "utility" means: A. versatility and flexibility. B. rationality. C. pleasure or satisfaction. D. purposefulness.
is a form of licensing in which a company allows a foreign company to pay it a fee and a share of the profit in return for using the first company's brand name and a package of materials and services.=
Franchising
1. Evaluate a task by scientifically studying each part of the task (not use old rule-of-thumb methods). 2. Carefully select workers with the right abilities for the task. 3. Give workers the training and incentives to do the task with the proper work methods.
Frederick W. Taylor's method
Are the primary interface to customers and sales channels they send all the customer information they collect to the database
Front office systems
Little interest in image or prestige above average consumers of products for the home like educational and Public affairs programming read widely and often
Fulfilleds
ensuring that the right quantity of parts for production of products for sale arrive at the right time
Fulfillment
Where groups of specialists actually create value for the organization
Functional level
• —how much should people delay gratification by planning and saving for the future? expresses the extent to which a society encourages investment in the future, as by planning and saving.
Future orientation
how rich is the country
GDP
You must consider what the Avearge _______ and per capata_______ when you go into a market
GDP, income
NI
GNP - depreciation
GNP (Gross National Product)
GNP=GDP + net foreign income
is the distribution of savings or "gains" to groups of employees who reduced costs and increased measurable productivity.
Gainsharing
control the flow of information in the buying center such as a secretary keeping the sales person from reaching people performing the other roles
Gatekeepers
• —how much should society maximize gender role differences? expresses the extent to which a society should minimize gender discrimination and role inequalities.
Gender egalitarianism
an international accord first signed by 23 nations in 1947,
General Agreement on Tariffs and Trade (GATT),
The population born between 1965 and 1976
Generation X
This. Is also known as the baby bust because number of children born each year was declining this generation of consumers are self-reliant, supportive of racial and ethnic diversity and better educated than any previous generation they also are the largest business travelers
Generation X
When you get to segmentation you are going to decide how you are going to segment your product such as
Geographic , Demographic , psychographic , behavioral
grouping customers based on defined geographical boundries Asia , north America
Geographic segmentation
What should you do if the action is not working? Some possibilities:
Give it more time., Change it slightly. , Try another alternative, Start over
exists when firms originate , produce and market their products and services worldwide
Global competition
Consumer groups living around the world who have similar needs or seek similar benefits form products or services
Global consumers
, is defined as using suppliers outside the United States to provide labor, goods, or services
Global outsourcing, or offshoring
the ____________studies were faulted for being poorly designed and not having enough empirical data to support the conclusions. Nevertheless, they succeeded in drawing attention to the importance of "social man" (social beings) and how managers using good human relations could improve worker productivity.
Hawthorne
—namely, that employees worked harder if they received added attention, if they thought that managers cared about their welfare and that supervisors paid special attention to them.
Hawthorne effect
A method of separating a mixed cost into its fixed and variable elements by analyzing the change in cost between the high and low activity levels.
High-low method
Maculine societies have different rules for men and women less so in feminine cultures this is called
Hofstede's cultural dimensions
messed up in japan
Homedepo
__________business model is under stress margins is very thin they find they need to go where sick people are not hope they come to us.
Hosptials
Originally, ____________proposed that there were four leader behaviors, or leadership styles—directive ("Here's what's expected of you and here's how to do it"), supportive ("I want things to be pleasant, since everyone's about equal here"), participative ("I want your suggestions in order to help me make decisions"), and achievement-oriented ("I'm confident you can accomplish the following great things"). The revised theory expands the number of leader behaviors from four to eight.
House
* Ethics -
How people ought to act.
The three people who pioneered behavioral theory were
Hugo Munsterberg, Mary Parker Follett, and Elton Mayo.
is the economic or productive potential of employee knowledge, experience, and actions
Human capital
Life expectancy and education are part of
Human development index
consists of the activities managers perform to plan for, attract, develop, and retain an effective workforce.
Human resource (HR) management
• —how much should society encourage and reward people for being kind, fair, friendly, and generous?represents the degree to which individuals are encouraged to be altruistic, caring, kind, generous, and fair.
Humane orientation
is a relatively stable trait grounded in the belief that "something greater than the self exists-
Humility
Tend to be more influential in home and car maintenance purchases
Husband
The ___operates as a last-resort lender that makes short-term loans to countries suffering from unfavorable balance of payments (roughly the difference between money coming into a country and money leaving the country, because of imports, exports, and other matters).
IMF
consumers motivated by ideals are guided by knowledge and principle
Ideals motivated groups
Reliability
If information can be depended on it is reliable. 1. It is verifiable 2. It is a faithful representation 3. It is neutral
Subsidized
If some activity creates external benefits as well as private benefits, then economic theory suggests that the activity ought to be:
Relevance
If the information has the ability to make a difference in a decision scenario, it is relevant. 1. Provides a basis for forecasts 2. Confirms or corrects prior expectations. 3. is timely
Either vertical or horizontal
If two variables are completely unrelated to each other, then graphing these two variables will yield a line that is:
Other variables not shown are held constant
In a graph showing the relationship between variables X and Y, ceteris paribus means that:
b
In a market economy, the distribution of output will be determined primarily by: A. consumer needs and preferences. B. the quantities and prices of the resources that households supply. C. government regulations that provide a minimum income for all. D. a social consensus as to which distribution of income is most equitable.
Competition
In a market system, which of the following will eliminate high-cost producers, and allow only the low-cost producers to survive?
Cause or source variable
In a relationship between two variables, the "independent variable" refers to the:
- highly trianed interviewer who knows how to draw info out of the subject with out leaving questuons or with out them knwoing there own opinion there objectives are to discover the interviewees owne framework of meanings , obtain rich , contextualzzied in depth info
In depth interviews
was the manufacturing resources planning or M RP I I in close the loop with accounting and financial management systems across the boundaries of production functionality started as a decision-support system as well as executive information system
In the 1980s the next generation of the ERP system
sales are low profits are negtive or low your customer base is innovators and your competitors are one or few
In the introduction
assess attitudes and experiences related to a person's honesty, dependability, trustworthiness, reliability, and prosocial behavior
Integrity tests
Types of distribution positioning
Intensive , Selective ,Exclusive
• —"How fairly am I being treated when rewards are given out?" relates to the "quality of the interpersonal treatment people receive when procedures are implemented," in one definition.58 This form of justice is not about how decision making or procedures are perceived but rather with whether people themselves believe they are being treated fairly when decisions are implemented. Fair interpersonal treatment necessitates that managers communicate truthfully and treat people with courtesy and respect.
Interactional justice
Ways to genrate ideas
Internal R and D, R and D consorita , Licensing , Brainstorming , Competitors Products , Customer input
Willing and able to buy
In understanding and analyzing "demand," we focus on how much of a product the buyers are:
• —how much pride and loyalty should people have for their family or organization? In contrast to individualism, _______ expresses the extent to which people should take pride in being members of their family, circle of close friends, and their work organization.171
In-group collectivism
retained earnings statement
Indicates how much income was distributed as dividends and how much was retained in the business — Indicates amount paid out in dividends and amount of net income or net loss for a period — Shows changes in retained earnings balance during period covered by statement —Time period is the same as that covered by income statement
Most often involve unplanned touches with the company to Board of mouth comments from other customers reviewers and news reports
Indirect contacts
A cost that cannot be easily and conveniently traced to a specified cost object.
Indirect cost
Small items of material such as glue and nails that may be an integral part of a finished product, but whose costs cannot be easily or conveniently traced to it.
Indirect materials
Transformational leaders are influenced by two factors:
Individual characteristics, Organizational culture.
The personalities of such leaders tend to be more extroverted, agreeable, proactive, and open to change than nontransformational leaders. (Female leaders tend to use transformational leadership more than male leaders do.)85
Individual characteristics.
indicates how much people prefer a loosely knit social framework in which people are expected to take care of themselves (as in the United States and Canada) or a tightly knit social framework in which people and organizationsPage 131 are expected to look after each other (as in Mexico and China).
Individualism/collectivism
How personal needs and goals are prioritized vs the needs and goals of the group/ clan / organization in Hofstede's cultural dimensions
Individualistic / collectivistic
In someway reprocessed a product or service they buy before selling it again to the next buyer
Industrial firms
a
Inflation is defined as: A. an increase in the overall level of prices. B. the rate of growth in nominal GDP. C. a situation where all prices in the economy rise simultaneously. D. the growth phase of the business cycle.
are conscious efforts to affect and change behaviors in others.
Influence tactics
_________affect the buying decision usually by helping define the specifications for what is bought the information technology manager would be a key influencer in the buying of a new mainframe computer
Influencers
are conducted on an unscheduled basis and consist of less rigorous indications of employee performance.
Informal appraisals
are those human differences that exert a powerful, sustained effect throughout every stage of our lives
Internal dimensions of diversity
means making people already employed by the organization aware of job openings.
Internal recruiting
When you scan your memory for previous experiences with the products or brands
Internal search
is designed to assist in smoothing the flow of money between nations.
International Monetary Fund (IMF)
Two or more companies cooperating by integrating their IT systems thereby writing customers with the best of what each can offer
Information partnership
Task-Oriented Leader Behaviors:
Initiating-Structure Leadership and Transactional Leadership
is leader behavior that organizes and defines—that is, "initiates the structure for"—what employees should be doing to maximize output
Initiating-structure leadership
allways start out with the newsest thing they are the first to buy it 2.5 % of the market
Innovators
—"What do you think you're putting into the job?" The ______that people perceive they give to an organization are their time, effort, training, experience, intelligence, creativity, seniority, status, and so on.
Inputs
The four parts of a system are defined as follows:
Inputs ,, Transformational processes , Outputs , Feedback
Transformational leaders have four key kinds of behavior that affect followers.87
Inspirational Motivation: , Idealized Influence , Individualized Consideration , Intellectual Stimulation
• —how much should leaders encourage and reward loyalty to the social unit? expresses the extent to which individuals are encouraged and rewarded for loyalty to the group as opposed to pursuing individual goals.
Institutional collectivism
is the expectation that successful performance of the task will lead to the outcome desired.
Instrumentality
requires using tangble cures to aid customers atmoospheres is important to Convery value images are used to convey benfit of value
Intagible servicres
are changes in the economic, political, legal, and technological global system that may affect an organization.
International forces
a
Opportunity costs exist because: A. the decision to engage in one activity means forgoing some other activity. B. wants are scarce relative to resources. C. households and businesses make rational decisions. D. most decisions do not involve sacrifices or trade-offs.
Cap and trade system
It has been proposed that a government agency be charged with the task of determining the amount of pollution that the atmosphere (or a body of water) can safely absorb, establish "rights" to this limited amount of pollution, and sell those limited amount of rights to firms. The firms can then buy and sell these rights among themselves later. This approach is known as the:
Median-voter model
It is observed that the person representing the middle position on an issue will most likely determine the outcome of an election. This view is most closely associated with the:
People whose moral development has reached this level are conformist but not slavish, generally adhering to the expectations of others in their lives. Level 2 managers lead by encouragement and cooperation and are more group and team oriented. Most managers are at this level.
Level 2, conventional—follows expectations of others.
is (1) the division of an organization's work among its employees and (2) the application of motivational theories to jobs to increase satisfaction and performance..
Job design
is the extent to which you feel positive or negative about various aspects of your work.
Job satisfaction
—two people split the same job
Job sharing
The farthest along in moral development, Level 3 managers are independent souls who follow their own values and standards, focusing on the needs of their employees and trying to lead by empowering those working for them. Only about a fifth of American managers are said to reach this level.
Level 3, postconventional—guided by internal values.
Is the decision-making processes that organizations use to establish the need for products and services identify evaluate and choose among alternative brands suppliers
Organization buying behavior
is common for cars, applications, houses, home appliances and electronics Family finances and medical care as a role joint decision-making increases with the education of the spouses
Joint decision-making
form a company to go into a country
Joint venture
Common Law
Judge-made law.
Assess initial rollout vendor meeting return with contract signed monitor vending performance using
KPI's
Consumers typically seek some information or rely on a friends to help them evaluate alternatives supper brands might be evaluated using in moderate number of attributes this might be used to consumer has little time or effort suspense this is called _________ problem solving
Limited problem-solving
A method of separating a mixed cost into its fixed and variable elements by fitting a regression line that minimizes the sum of the squared errors.
Least-squares regression method
Represents a massive long term business investment in a software system with a single focus such systems often slow , non-extensible
Legacy information system LIS=
which all managers have, is power that results from managers' formal positions within the organization.
Legitimate power,
d
Modern economic growth refers to countries that have experienced an increase in: A. real GDP over time. B. nominal GDP over time. C. real output spread evenly across all sectors of the economy. D. real output per person.
-To develop accounting standards the FASB Relies on some key assumptions and Principles.
Monetary unit assumption Economic Entity Assumption Going Concern Assumption Cost Principle Assumption Full Disclosure Principle
Is a personal moral philosophy that considers certain individual rights or duties as universal regardless of outcome
Moral idealism
trading status describes a condition in which a country grants other countries favorable trading treatment such as the reduction of import duties.
Most favored nation
• This is the tendency to overlook information that works against our best interest. "People who have a vested self-interest, even the most honest among us, have difficulty being objective," says one report. "Worse yet, they fail to recognize their lack of objectivity."3 Motivated blindness enables us to behave unethically while maintaining a positive self-image.4
Motivated blindness.
may be defined as the psychological processes that arouse and direct goal-directed behavior
Motivation
• —"I need to excel at tasks." This is the desire to excel, to do something better or more efficiently, to solve problems, to achieve excellence in challenging tasks.
Need for achievement
• —"I need close relationships." This is the desire for friendly and warm relations with other people.
Need for affiliation
• —"I need to control others." This is the desire to be responsible for other people, to influence their behavior or to control them.34
Need for power
They have as many different product variations , brand names , and advertsing programs as countries in which they do business in
Multidomestic marketing strategy
A number of countries with similar economic goals have formed a national trade groups or trade agreements 2 of the best known examples are
NAFTA and the EU
The ________groups economic activity to permit studies of market share, demand for products and services, import competition in domestic markets, and similar studies
NAICS
The ________provides common industry deffentions for Canada , mexico and the US which makes it easier to measure economic activity and the three member countries of the North American Free Trade Agreement
NAICS North American industry classification system
NI
NI NI=NDP + net foreign income or NI=GNP - depreciation
Lifted many trade barriers between Canada , mexico and the US and stimulated trade as well as cross border retailing , manufacturing and investment
Nafta
is defined as having "a self-centered perspective, feelings of superiority, and a drive for personal power and glory
Narcissism
which enforces procedures whereby employees may vote to have a union and for collective bargaining. .
National Labor Relations Board (NLRB),
is the value of natural resources, such as topsoil, air, water, and genetic diversity, which humans depend on.
Natural capital
Occurs when a person feels deprived of basic necessities such as food clothing and shelter
Need
Government can enforce involuntary transactions, whereas private transactions are mostly voluntary
One key is difference between government activities and private transactions is that:
• How intellectual, imaginative, curious, and broad-minded one is
Openness to experience.
focuses on managing the production and delivery of an organization's products or services more effectively
Operations management
Are the objectives attributes of the suppliers products and services and the capabilities of the supplier itself
Organizational buying criteria
The set of values, ideas, and attributes, norms of behavior that is learned and shared among members of an organization
Organizational culture
Adaptive, flexible organizational cultures are more likely than are rigid, bureaucratic cultures to foster transformational leadership.
Organizational culture.
include management status, union affiliation, work location, seniority, work content, and division or department.
Organizational dimensions
Is a tool you use to see here or otherwise recognize the results of your information processing requests
Output device
18. are the products, services, profits, losses, employee satisfaction or discontent, and the like that are produced by the organization. Whatever comes out of the system is an .
Outputs
The movemnt of formerly well-paying jobs overseas as companies seek cheaper labor costs, particularly in manufacturing=
Outsourcing
Is defined as Porter as offering the same or better quality product or service at this price that is less than what any of the competition is able to do
Overall cost leadership
What Are the disadvantages of a Sole proprietorship
Owner personally liable Financing may be difficult Transfer of ownership may be difficult
PI
PI=NI - taxes on products&imports - S.S. - corp tax - undistributed corp tax + transfer payment
announcement are free to broad cast but they the raido sation can say when they want it gets broadcasted
PSA public service
refers to the degree to which people accept inequality in social situations (high in Mexico and India, low in Sweden and Australia). Uncertainty avoidance expresses people's intolerance for uncertainty and risk (high in Japan, low in the United States). Masculinity/femininity expresses how much people value performance-oriented traits (masculinity: high in Mexico) or how much they embrace relationship-oriented traits (femininity: high in Norway). In general, the United States ranked very high on individualism, relatively low on power distance, low on uncertainty avoidance, and moderately high on masculinity.
Power distance
• —how much unequal distribution of power should there be in organizations and society? expresses the degree to which a society's members expect power to be unequally shared.
Power distance
- when you gave it to a few customers to see if its any good the customeres are expsoses and surveyed to see if you are going to do test marketing
Pre Market testing
is a data-mining technique used to predict future behavior and anticipate the consequences of change
Predictive modeling
is the amount of money charged for a product or service
Price
Price Index
Price Index=Current year cost/base year cost x 100
Marketing mix activities
Price strategy, product strategy, promotion strategy, place (distribution) strategy\
Firms can make adjustments to an exsitng product or change price to meet the unquie needs of a particular country market
Pricing
are facts and figure that have that are newly collected for the project you can tailor to what you want , cost more money , time consuming , trained market researchers
Primary research
focus on streamlining a companies purchase transactions with the suppliers and customers they are not a neutral for third party however they represent the interests of their owners
Private exchanges
or integrating, is about collaboration. In this style, the manager strives to confront the issue and cooperatively identify the problem, generating and weighing alternatives and selecting a solution. Problem solving is appropriate for complex issues plagued by misunderstanding. It is inappropriate for resolving conflicts rooted in opposing value systems.
Problem solving,
• —"How fair is the process for handing out rewards?" is defined as the perceived fairness of the process and procedures used to make allocation decisions.
Procedural justice
Interpreting information so that is consistent with your attitudes and beliefs
Selective comprehension
Optimize the execution of activities and processes already in place seek organizational growth through offering products and services faster and cheaper than the competition
Run
Step three identify and evaluate opportunities using
STP( segmentation, targeting, positioning)
How much is Potsdam Pottery's gross margin?
Sales ($50,000) - The decrease in finished goods ($6,200) - Cost of goods manufactured ($29,000).
established requirements for proper financial record keeping for public companies and penalties of as much as 25 years in prison for noncompliance.
Sarbanes-Oxley Act of 2002, often shortened to SarbOx, or SOX,
Interviewers Often Follow a Three-Scene Interview Scenario.
Scene 1: The first three minutes—small talk and "compatibility" test 2. Scene 2: The next 15-60 minutes—asking questions and listening to the applicant's "story." 3. Scene 3: The final two minutes—closing the interview and setting up the next steps.
emphasized the scientific study of work methods to improve the productivity of individual workers. Two of its chief proponents were Frederick W. Taylor and the team of Frank and Lillian Gilbreth.
Scientific management
where can I go and get info that's already available that I don't have to generate my self a lot of times free or in expensive
Secondary research
is you need to break your market down into distinct different groups
Segmentation
Forbids 1. contracts, combinations, or conspiracies in the restraint of trade and 2. actual monopolies or attempts to monopolize any part of trade or commerce
Sherman antitrust act
d
Shocks to the economy occur when: A. stock prices rise by more than 10 percent per year. B. government takes a more active role in the economy. C. prices are flexible. D. actual economic events do not match what people expected.
What can the executive branch do
Sign laws, veto bills , pardon people , appoint fedral postions
What Are the benefits of a Partnership
Simple to establish Shared control Tax advantages Broader skills and resources
Five keys to a successful incentive-pay plan are the following
Simplicity, Clear goals , Realistic goals. , Consistency with present goals., Regular communication.
are the least financially secure households thereby preferences are affected by limited economic status and tend towards convenience foods, children care services, personal care items
Single parents with children
Avis knew they would would never be bigger so they tried the solgan we try harder Back in the day docotrs used to pecrobe a genuis BMw has one that says the ultimate driving mechine
Slogans
The Internet and the World Wide Web allow almost anyone to be global, with two important results:
Small companies can get started more easily, Small companies can maneuver faster.
During which the economy's overall output and employment expands and contracts
So-called business cycles refer to the multi-year periods:
One psychologist, Laurence Kohlberg, has proposed three levels of personal moral developmen
preconventional, conventional, and postconventional.125
The NAICS replaced
Standard industrial classification system SIC system
What are the two court systems
State and federal
Sources of laws are
Statues Treaty's Common law Constitution laws. administrative
Subgroups within the larger or national culture with unique values ideas and attitudes are referred to as
Subcultures
A cost that has already been incurred and that cannot be changed by any decision made now or in the future.
Sunk cost
,, is economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
Sustainability
Involves conducting business in a way that protects the natural environment will making economic progress
Sustainable development
is the idea that two or more forces combined create an effect that is greater than the sum of their individual effects,
Synergy
Inventoriable costs
Synonym for product costs
• is our slow, deliberate, analytical, and consciously effortful mode of reasoning, which swings into action when we have to fill out a tax form or park a car in a narrow space.
System 2—analytical and conscious:
Handles task specific to technology management and coordinates needs the interaction of all technology devices includes network operating system software drivers for printers , scanner, operating system software
System software
The alignment of these parts resembles the letter R and therefore the account form is called a
T account
is like salt , greece dirt
Tanagible dominiant
The appearance of physical facilities , equipment personnel and communication materials
Tangibles
went into canda people in canda and didn't have the same qulaity as they do in us and forced target to get of of canda
Target
One or more specific groups of potential customers toward which an organization directs its marketing program
Target market
- you estemate what your market demand is it includes mini product launh it is more expsive than pre market tests
Test marketing
• "People tend to be overly optimistic about their own abilities and fortunes—to overestimate their standing in class, their discipline, their sincerity," suggests science writer Benedict Carey. "But this self-inflating bias may be even stronger when it comes to moral judgment."2
The "holier-than-thou" effect.
The psychological mechanisms operating here are that let people cheat are
The "holier-than-thou" effect. , Motivated blindness :
is a group process that uses physically dispersed experts who fill out questionnaires to anonymously generate ideas; the judgments are combined and in effect averaged to achieve a consensus of expert opinion.
The Delphi technique
a
The basic purpose of the other-things-equal assumption is to: A. allow one to reason about the relationship between variables X and Y without the intrusion of variable Z. B. allow one to focus upon micro variables by ignoring macro variables. C. allow one to focus upon macro variables by ignoring micro variables. D. determine whether X causes Y or vice versa.
also known as the intentional component, is how one intends or expects to behave toward a situation..
The behavioral component of an attitude,
developed over three phases: (1) early behaviorism, (2) the human relations movement, and (3) behavioral science.
The behavioral viewpoint
emphasized the importance of understanding human behavior and of motivating employees toward achievement.
The behavioral viewpoint
is the movement, or outsourcing, of formerly well-paying jobs overseas as companies seek cheaper labor costs, particularly in manufacturing.
The biggest problem of globalztion
A classified balance sheet helps users evaluate
The company ability to pay its debts The claims of short term and long term creditors
is when people seek information to support their point of view and discount data that do not.
The confirmation bias
determines if a leader's style is (1) task-oriented or (2) relationship-oriented and if that style is effective for the situation at hand
The contingency leadership model
emphasizes that a manager's approach should vary according to—that is, be contingent on—the individual and the environmental situation.
The contingency viewpoint
Our laws are based on...
The english system
E and A only
The graph above shows the production possibilities curve for an economy producing two goods, X and Y. Which of the points on the graph indicate unemployed resources?
is a comprehensive approach—led by top management and supported throughout the organization—dedicated to continuous quality improvement, training, and customer satisfaction.
Total quality management (TQM)
Quantities which consumers will be willing and able to buy at various prices
The horizontal axis of a graph that shows a market demand curve indicates the:
b
The income and substitution effects account for: A. the upward-sloping supply curve. B. the downward-sloping demand curve. C. movements along a given supply curve. D. shifts in the demand curve.
Entrepreneur
The individual who brings together economic resources and assumes the risk of business ventures in a capitalist economy is called the:
clarifies the problem for consumer by one suggesting criteria to use for the purchase to yielding brand names that might meet the criteria three developing consumer value perceptions
The information search stage
consists of (a) five core job characteristics that affect (b) three critical psychological states of an employee that in turn affect (c) work outcomes—the employee's motivation, performance, and satisfaction
The job characteristics model
Following orientation, the employee should emerge with information about three matters =
The job routine, The organization's mission and operations., The organization's work rules and employee benefits.
It directs resources towards products that the society wants most
The market economy is regarded as "efficient" in that:
d
The market system's answer to the fundamental question "How will the goods and services be produced?" is essentially: A. "With as much machinery as possible." B. "Using the latest technology." C. "By exploiting labor." D. "In ways that minimize the cost per unit of output."
3
The minimum acceptable price for a product that producer Sam is willing to receive is $15. The price he could get for the product in the market is $18. How much is Sam's producer surplus?
Asymmetric information
The moral hazard problem arises primarily because of:
What the person I admire the most do this
The moral mentor test
is the bias in which people's subjective confidence in their decision making is greater than their objective accuracy.
The overconfidence bias
Commerce Clause
The part of Article I, Section 8, that gives Congress the power to regulate commerce with foreign nations and among states.
Appellant
The party filing the appeal.
What I be able to look in the mirror and we respect myself
The person in the mirror test
Jurisprudence
The philosophy of law.
Eminent domain
The power of the government to take private property for public use.
Litigation
The process of filing claims in court and ultimately going to trial.
The scientific method
The process of observing real-world behavior, developing hypotheses, testing them against facts, then using the results to construct theories is called:
The reason for engaging in the decision
The purchase task
, explains how managers should make decisions; it assumes managers will make logical decisions that will be the optimum in furthering the organization's best interests.
The rational model of decision making, also called the classical model
, describes the phenomenon in which people's expectations of themselves or others lead them to behave in ways that make those expectations come true.
The self-fulfilling prophecy, also known as the Pygmalion ("pig-mail-yun") effect
a
The smallest component of aggregate spending in the United States is: A. net exports. B. government purchases. C. investment. D. consumption.
It can contribute to economic inefficiency in the public sector
The special-interest effect is significant because:
Statement of Cash Flows
The statement of cash flows presents information about cash inflows and outflows form: operating activities , investing activities , financing activities
is when managers add up all the money already spent on a project and conclude it is too costly to simply abandon it
The sunk-cost bias, or sunk-cost fallacy,
An account consist of
The title of the account a left or debit side a right or credit side
b
The value added of a firm is the market value of: A. a firm's output plus the value of the inputs bought from others. B. a firm's output less the value of the inputs bought from others. C. the firm's output. D. the firm's inputs bought from others.
represents a pessimistic, negative view of workers. In this view, workers are considered to be irresponsible, to be resistant to change, to lack ambition, to hate work, and to want to be led rather than to lead.
Theory X
represents the outlook of human relations proponents—an optimistic, positive view of workers. In this view, workers are considered to be capable of accepting responsibility, self-direction, and self-control and of being imaginative and creative.
Theory Y
do you have the information when you needed and does the information described the time. Or. Timer period you are considering
Timeliness
Affirm
To allow the decision to stand.
Adjudicate
To hold a formal hearing about an issue and then decide it.
Reverse and remand
To nullify the lower decision and return the case for reconsideration
What is the Sox act
Top management to certify accuracy of financial information Severe penalties for fraudulent financial activity increased independence of auditors Increased responsibility for board of directors
Debt to total assets ratio =
Total liabilities / Total Assets.
Quantity demanded is greater than quantity supplied
There is a shortage in a market for a product when:
Married a couple of children younger than 18 years
Traditional family
implemented in 1996, cut tariffs by one-third.
Uruguay Round,
Cautions about Using Personality Tests in the Workplace
Use professionals., Don't hire on the basis of personality test results alone. , Be alert for gender, racial, and ethnic bias.
b
Use the following table for a hypothetical single-product economy. Refer to the data. Nominal GDP in year 3 is: A. $100. B. $450. C. $225. D. $150.
What are Internal Users
Users within the organization. managers who plan , organize and run a business, they ask questions about finance , human resources , marketing , management
, the importance a worker assigns to the possible outcome or reward.
Valence is value
are groups of people who collaborate seamlessly across time and space with the help of a wide array of communication technologies.
Virtual teams
work together over time and distance via electronic media to combine effort and achieve common goals
Virtual teams
Trait theory offers us four conclusions.=
We cannot ignore the implications of leadership traits. , The positive and "dark triad" traits suggest the qualities you should cultivate and avoid if you want to assume a leadership role in the future. , Organizations may want to include personality and trait assessments in their selection and evaluation processes., A global mind-set is an increasingly valued task-oriented trait.
Airline market breaks their customers into segments such as
We're off again (frequent travels ) , loyal to loyalty programs , urgent traverles , business travel (income, budget conscious
Is the so-called second generation of web and focuses on online collaboration users as both creators and modifiers of content dynamic and customize information feet and many other engaging web basic services
Web 2.0
is the combined impact of five elements—positive emotions, engagement, relationships, meaning, and achievement (PERMA
Well-being
Rivalry and excludability
What are the two characteristics that differentiate private goods from public goods?
Comparability
When different companies use similar accounting principles.
A system that allows buyers and sellers to interact with one another
When economists describe "a market," they mean:
A
When economists say that people act rationally in their self-interest, they mean that individuals: A. look for and pursue opportunities to increase their utility. B. generally disregard the interests of others. C. are mainly creatures of habit. D. are usually impulsive and unpredictable.
The whole demand curve or schedule
When economists speak of "demand" in a particular market, they refer to:
When a Group Can Help in Decision Making: Three Practical Guidelines
When it can increase quality, When it can increase acceptance, When it can increase development:
Below the true-cost supply curve
When the production of a good generates external costs, the firm's supply curve will be:
Median voter
When voters have different opinions about an issue, the position that is most likely to be adopted is that of the:
For questions provide guidance in understanding the buyer center in these organizations
Which individuals are in the buying center for the product or service? , what is the relative influence of each member of the group? What are the buying criteria of each member? How does each member of the group received our firm are products and services and Our salespeople?
d
Which of the following activities is excluded from GDP, causing GDP to understate a nation's production? A. The services of health care workers. B. The services of military personnel. C. The construction of new buildings. D. Goods and services produced in the underground economy.
d
Which of the following best explains why prices tend to be inflexible even when demand changes? A. Government regulations limit the number of times a firm can change prices in a year. B. In most industries the profit-maximizing price does not change even when demand changes. C. Production costs do not tend to change when a firm varies its level of output. D. Firms may be reluctant to change prices for fear of setting off a price war or losing customers to rivals.
Limits on interest rates charged by credit card companies
Which of the following is an example of a price ceiling? a. Price supports for agricultural products b. Minimum-wage laws for unskilled workers c. Subsidies for apartment rent in major cities d. Limits on interest rates charged by credit card companies
Money
Which of the following is not a factor of production? Labor Capital Money Entrepreneur
Public agency
Which of the following is not a major category of business structure? Corporation Sole proprietorship Partnership Public agency
b
Which of the following statements best describes how firms respond to demand shocks under conditions of inflexible prices? A. Firms respond to shorter-term demand shocks by adjusting production levels; more persistent changes in demand result in changes in inventories. B. Firms respond to shorter-term demand shocks by adjusting inventories; more persistent changes in demand result in changes in production levels. C. Firms are reluctant to adjust inventory levels because the costs are higher than changing the quantity of output produced. D. Firms are quick to let go of workers when negative demand shocks occur.
Balance sheet
presents a picture at a point in time of what a business owns and what it owes
occurs when the demands or pressures from work and family domains are mutually incompatible
Work-family conflict
are employer-sponsored benefit programs or initiatives designed to help all employees balance work life with home life
Work-life benefits
occurs when people are hired or promoted—or denied hiring or promotion—for reasons not relevant to the job (1) although the law prohibits discrimination in all aspects of employment, it does not require an employer to extend preferential treatment because of race, color, religion, and so on and (2) employment decisions must be made on the basis of job-related criteria.
Workplace discrimination
is to provide low-interest loans to developing nations for improving transportation, education, health, and telecommunications
World Bank
is designed to monitor and enforce trade agreements.
World Trade Organization (WTO)
The three principal organizations designed to facilitate international trade are the=
World Trade Organization, the World Bank, and the International Monetary Fund.
Briefs
Written arguments on the case.
Types of promotion positioning
prestige , fun , powerful
Four key behaviors of transformational leaders in affecting employees are they
inspire motivation, inspire trust, encourage excellence, and stimulate them intellectually.
Brand loyalty results from the positive reinforcement of
previous actions
Is an IT system that supports supply chain management activities by are automating the tracking of inventory in information among business processes and across companies
a supply chain management system
Distinctive competitiveness- cost advantage or differentiation advantage-value creation
a models of competitive advantage
In terms of selling a product relationship marketing involves
a personal ongoing relationship between the organization and its individual customers that begins before and continues after the sale
Success in these areas can be measured through
a social audit, a systematic assessment of a company's performance in implementing socially responsible programs, often based on predefined goals.
Managers with an ________style have a much higher tolerance for ambiguity and are characterized by the tendency to overanalyze a situation. People with this style like to consider more information and alternatives than those following the directive style. These individuals are careful decision makers who take longer to make decisions but who also respond well to new or uncertain situations.=
analytical
the term used for sophisticated forms of business data analysis.=
analytics, or business analytics,
the tendency to make decisions based on an initial figure
anchoring and adjustment bias,
Include the customers mood amount of cash on hand
antecedent states
The consumers mood or the amount of cash on hand can influence purchase behavior and choice
antecedent states
Expences
are the cost of assets consumed or services used in the process of generating revenues
, in which management candidates participate in activities for a few days while being assessed by evaluators.111
assessment center
Face-to-face helps you capture
attention, inspire commitment, strengthen relationships, and other benefits.4
Is a learned predisposition to respond to an object or class of objects in a consistent consistency favorable or unfavorable way
attitude
is defined as a learned predisposition toward a given object
attitude
are beliefs and feelings that are directed toward specific objects, people, or events
attitudes
Intuition based on feelings—the involuntary emotional response to those same matters—is known as
automated experience.
—managers use information readily available from memory to make judgments.
availability bias
Is the use of multiple channels of transportation railway truck boat and so on to move products from origin to destination
inter modal transportation
Is the only element in the marketing mix that produces revenue all other elements represent costs
price
MIS deals with the coordination and use of three very important organizational resources
information, people, and information technology
What can the legstative branch do
declare war, pass laws, over turn vetos, interstate comperce
Your sales and profits are declining your cusomter base is laggerds and you have a low number of competors
decline Stages in the Product Life Cycle
In recent years, the percentage of the labor force represented by unions has steadily
declined
If prices rise faster than consumers income the number of items customers can buy
decreases
An decrease in cost between two alternatives.
decremental costs
Product ____within the product line how many versions of the same products am I going to offer how many such as how many types of esproesso am I going to offer
depth
Step 3 in the marketing planning phase program involves
developing the programs marking mix the four p's and its budget
Cost scope , quality , constraints are all things you need to consider when
developing the research plan
—analyzing the underlying causes.
diagnosis
Pricing for service company's have many
different ways
Materials that become an integral part of a finished product and whose costs can be conveniently traced to it.
direct materials
Most manufacturing companies separate manufacturing costs into three broad categories:
direct materials, direct labor, and manufacturing overhead.
Is one a person wishes to maintain a distance from because of differences in values or behaviors
dissociative group
Are the characteristics of your company which cannot be replicated by competitors
distinctive compatibilities
Three different components of organizational justice have been identified:
distributive, procedural, and interactional.
Psychological concepts such as_ are useful for interpreting buying processes and directing marketing efforts
do and personality perception learning values beliefs and lifestyle
Are Sbu's with low shares of slow growth markets allthough they may generate enough cash to sustain themselves, they do not hold the promise of every becoming real winners for the orgnaztion dropping SBU's that are___ may be required expect when relationships with other SBU's , competitive considerations , or potentional strategic alliances exist
dogs
A _________is a permanent dismissal; there is no rehiring later.
downsizing
Strategies, goals, and directives that originate at a higher level are past level levels in the ________information flows
downward
Transportation- Channels - communication - commerce
infrastructure and tech
Google glass started out as a product only_____________ could buy them
innovators
16. are the people, money, information, equipment, and materials required to produce an organization's goods or services. Whatever goes into a system is an
input.
defined as an individual's involvement, satisfaction, and enthusiasm for work.
employee engagement,
A firm may recognize the critical importance of its employees by stating its goal of providig them with good employment opportunities and working conditions
employee welfare
internal, environment consists of
employees, owners, and the board of directors.
These stakeholders are
employees, shareholders, Board of Directors, suppliers, distributors, creditors, unions, government, local communities, and customers
are legally considered to consist of any procedure used in the employment selection decision process, even application forms, interviews, and educational requirements
employment tests
Revenue and profit
ensuring no sales are lost because shelves are empty
Two _____________ are task structure (independent versus interdependent tasks) and work group dynamics.
environmental factors
These activites/ forces things helped shape an organizations marketing activities
environmental forces, social, economic, technological, competitive, regulatory,
The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called
environmental scaning
Financial statements must be prepared in s
equence because the information in one is needed for the next. The sequence of financial statements is: income statement, statement of retained earnings, balance sheet and statement of cash flows.
• Either they perceive there is ________, and so they are satisfied with the ratio and don't change their behavior, or they perceive there is _______, and so they feel resentful and act to change the inequity.56
equity, inequity
whereby decision makers increase their commitment to a project despite negative information about it.
escalation of commitment bias
In order to create an a ethical Workplace you need to Values _________,________, _________Rules_________,________, , Controls _________, ___________
establish, share, understand, management commitment, employee dedication, reward, punishment
represents employees' perceptions about the extent to which work environments support ethical behavior
ethical climate
Or the moral principles and values that govern the actions and decisions of an individual or group
ethics
,someone trained about matters of ethics in the workplace, particularly about resolving ethical dilemmas
ethics officer
This is the control phase
evaluate performance using marketing metrics
Intensive distribution is your product is
everywhere
transformational leaders encourage their people to do
exceptional things
The_____ is the rate at which the currency of one area or country can be exchanged for the currency of another
exchange rate
The key elements in equity theory are
inputs, outputs (rewards), and comparisons
Debit means you
have money
One way for unveirsys to distrubute their products is
have more campus locations
Bayer - they repostioned it into a _______version nothing different
heart healthy
Non uniform in composition or chacter
heterogeneity
which proposes that people are motivated by five levels of needs: (1) physiological, (2) safety, (3) love, (4) esteem, and (5) self-actualization
hierarchy of needs theory,
Ny - magazine target market
high end
If you tend to seek social approval and satisfying personal relationships, you may have a ______________In that case, you may not be the most efficient manager because at times you will have to make decisions that will make people resent you. Instead, you will tend to prefer work, such as sales, that provides for personal relationships and social approval.
high need for affiliation.
If you, like most effective managers, have a ______________, that means you enjoy being in control of people and events and being recognized for this responsibility. Accordingly, your preference would probably be for work that allows you to control or have an effect on people and be publicly recognized for your accomplishments.
high need for power
in which people rely heavily on situational cues for meaning when communicating with others
high-context culture,
The task-oriented style works best in either
high-control or low-control situations.
is the tendency of people to view events as being more predictable than they really are
hindsight bias
Intuition that stems from expertise—a person's explicit and tacit knowledge about a person, a situation, an object, or a decision opportunity—is known as a
holistic hunch.
Under the BCG business portfolio analysis the __________is the relative market share defined as sales of the SBU divided by the sales of the largest firms in industry
horizontal axis
Information flows ______between the functional business units and work teams all the units of your organization meeting inform other units of their processes and be informed by other units regarding their processes
horizontally
type, in which the person being sexually harassed doesn't risk economic harm but experiences an offensive or intimidating work environment.
hostile environment
As a rule of thumb, labor unions tend to represent
hourly workers
Customer management are schooled and trained on
how deal with people
The two theorists who contributed most to the ___________—which proposed that better human relations could increase worker productivity—were Abraham Maslow and Douglas McGregor.
human relations movement
are factors associated with job dissatisfaction—such as salary, working conditions, interpersonal relationships, and company policy—all of which affect the job context in which people work.
hygiene factors,
, the illegal trading of a company's stock by people using confidential company information
insider trading
Personaitly types are (ego stuff)
id (bad ),ego( middle ) , super ego ( really good )
Howie would like to view ourselves
ideal self concepts
Are thoughts about concepts actions or causes
ideas
Segment attrctiveness (5 things)
idefndiable , substantial, reachable , resposive , profitable
The second step in the strategic marketing process is
implementation
Managers, in turn, are charged with _________the vision and plan.
implementing
—limitations on the numbers of products allowed in
import quotas
, a company buys goods outside the country and resells them domestically.
importing
—how to change conditions from the present to the desirable
improvements
The six digit designates in NAICS
individual Country level national industries
is guided by what will result in the individual's best long-term interests, which ultimately are in everyone's self-interest
individual approach
• Too little conflict—___________. Work groups, departments, or organizations that experience too little conflict tend to be plagued by apathy, lack of creativity, indecision, and missed deadlines. The result is that organizational performance suffers.=
indolence
Allowing gratifcation of basic drives related to enjoying life and having fun vs regulating it trhough strict social nroms this is called in Hofstede's cultural dimensions
indulegence / restraint
Why Munsterberg Is Important: His ideas led to the field of ______________, the study of human behavior in workplaces, which is still taught in colleges today.
industrial psychology
Motivation is difficult to understand because you can't actually see it or know it in another person; it must be ________from one's behavior.
inferred
In a _economy the costs produce and buy products and services escalate as price increases
inflationary
Is data that have a particular meaning within the specific content
information
From first to the extent of detail within the information at lower organizational levels information exhibits fine ____________because people need to work with information in great detail at the upper organizational levels information becomes coarser because it is summarized or aggregated in someway
information granularity , granularity
Any computer-based tool that people use to work with information and support the information and information processing needs of an organization
information technology
What are Investing activties
involve the purchase of resources (assets) needed to operate the business
Personal social and on an economic significance of the purchase to the consumer
involvement
Utilitarianism Ethics
is a theory in normative ethics holding that the best moral action is the one that maximizes utility. Utility is defined in various ways, but is usually related to the well-being of sentient entities.
Deontological ethics or deontology
is the normative ethical position that judges the morality of an action based on the action's adherence to a rule or rules. It is sometimes described as "duty-" or "obligation-" or "rule-" based ethics, because rules "bind you to your duty."
What is exchanged for the product
price
The reason we study market research is
it is critical to the success of the business
more than five times as many union members are now public-sector workers compared to private-sector workers, whose unionizing has sharply fallen off, mainly because of
job losses in manufacturing and construction.
placing information about job vacancies and qualifications on bulletin boards, in newsletters, and on the organization's intranet
job posting,
,which describes the minimum qualifications a person must have to perform the job successfully.
job specification
with a foreign company to share the risks and rewards of starting a new enterprise together in a foreign country
joint venture, also known as a strategic alliance,
Is a method for producing or delivering a product or service just at time the customer wants it
just-in-time
is guided by respect for impartial standards of fairness and equity.
justice approach
Provides important advantages to a trademark owner but it does not confirm ownership a company can lose his trademark if it becomes generic which means that has come to a common disruptive word for the product
lanham act 1946
, a company allows a foreign company to pay it a fee to make or distribute the first company's product or service
licensing
Sign up a bunch of franchises such as McDonalds
licensing
Maslow proposed his famous hierarchy of human needs:
physiological, safety, love, esteem, and self-actualization
, in which employees are paid according to how much output they produce
piece rate
Business mission and objectives, swot analysis are in the_________ phases
planning
The difference between the projection of the path to reach a new goal and the projection of the path of the results of the plan already in place
planning gap
Examples of task-oriented behaviors are
planning, clarifying, monitoring, and problem solving
managers typically perform functions associated with
planning, investigating, organizing, and control,
Why Fayol Is Important: Fayol was the first to identify the major functions of management—________________________—the first four of which you'll recognize as the functions providing the framework for this and most other management books.16
planning, organizing, leading, and controlling, as well as coordinating
There are four types of reinforcement:
positive reinforcement, negative reinforcement, extinction, and punishment. This section also describes how to use some reinforcement techniques to modify employee behavior.
The value of making an item easy to purchase to the provision of credit cards or financial arrangements
possession utility
Other positives are that there is now a worldwide market for companies and consumers who have access to products of different countries, and there is more influx of information between two countries, more cultural intermingling, and often more openness and tolerance toward other people these are
postive effects of globalatiozn
is the extent to which a person is able to influence others so they respond to orders
power
The dgree people re comfortable with influencing upwards accpect of inequality in distribution on power in society this is called in Hofstede's cultural dimensions
power distance
The first objective in marketing is discovering the needs of
prospective customers
Is the practice of shielding one or more industries with the country's economy from foreign competition usually through the use of tariffs or quotas
protectionism also known as economic protectionism
This tarrif which is intended to raise the price of imported goods to make the prices of domestic products more competitive.,
protective tariff
Provides insights into consumers needs and wants it is the practice of combining psychology, lifestyle, demographics it is used to uncover the motivations for buying and using products and services
psychographics
they establish periods of stable functioning until an event causes a dramatic change in norms, roles, and/or objectives. The group then establishes and maintains new norms of functioning, returning to equilibrium
punctuated equilibrium,
, the application to management of quantitative techniques, such as statistics and computer simulations
quantitative management
Consists of restrictions state and federal laws place in businesses with regard to the conduct of its activities this is exist to protect companies as well as consumers this isn't six to ensure competition and service practices end is to protect businesses from unfair trade practices and ensure their safety
regulation
, which attempts to explain behavior change by suggesting that behavior with positive consequences tends to be repeated, whereas behavior with negative consequences tends not to be repeated
reinforcement theory
The hallmark of developing and maintaining effective customer relations is today called
relationship marketing
In, a manager realizes that complete inaction will have negative consequences but opts for the first available alternative that involves low risk.
relaxed change
Products that are retargted for a new use or applcaition also incudes retarrgeting to new users or new markets % of new products
repositioning's , 7%
the tendency to generalize from a small sample or a single event.
representativeness bias,
The fourth digit in NAICS
represents an industry group
RFP process means
request for proposal
Buy physical products and resell them without any reprocessing are
resellers
Wholesalers and retailers are
resellers
Is the action taken by consumer to satisfy drive
response
net loss
results when expenses exceed revenues
net income
results when revenues exceed expenses
Is for more expensive to acquire a new customer than It is to
retain an existing customer especially in the automotive retail industry
this tarrif is designed simply to raise money for the governmet,
revenue tariff
In a_________ a buyer communicates in need for product or service and would-be suppliers are invited to bidding competition with the each other
reverse auction
one indicator that managers often pay attention to is productivity growth. Rising productivity leads to
rising profits, lower inflation, and higher stock prices.
In the five forces model is high competition is fierce in market and low when competition is more complacence
rivarly among existing competitors
Preduental insurce there logo is a mountain and call them selves the
rock
How comfortable are people with chnaging the way they work or live (low _____) or prefer the known systems (high ____ )this is called in Hofstede's cultural dimensions
uncertainty avoidance
—working at jobs that require less education than they have
underemployed
Questionable firm practices yet donates a lot to the community
unethical, socially responsible
involves asking probing questions to find out what the applicant is like.
unstructured interview
The _______ of an organization developed strategies
upper level
three key attributes among analytics competitors:
use of modeling, multiple applications, and support from top management
is guided by what will result in the greatest good for the greatest number of people
utilitarian approach
Perspective on moral philosophy which is personal moral philosophy for the greatest number by asserting the costs and benefits of the consequences of ethical behavior benefits exceed the cost and the behavior is ethical if not then the behaviors is it unethical
utilitarianism
—the test measures what it purports to measure and is free of bias.
validity
Marketing creates
value
Price captures
value
Products create
value
, the pattern of values within an organization.
value system
an account is classified as either
variable or fixed
Service products are a lot more _________then products
varible
is money provided by investors to start-up firms and small businesses with high risk but perceived long-term growth potential, in return for an ownership stake
venture capital
ith job enrichment employees are given more responsibility (known as
vertical loading).
Step 5 is Market research is key it requires a formal presentation to exectutive management , stratgey and funding are set off of marketing research if done well great if wrong
very costly
_should be clear concise meaningful, inspirational and long-term
vision or mission statement
Market research needs to be done
well , presice
meeting product quality, avoiding stock out situations so the buyers don't substitute competing brands and, repetitive advertising messages that reinforce a consumers knowledge or assure buyers they made the right choice
what marketers focus on for a low involvement product
Market bacsket analsyis is what
what people buy together
Micro marketing segmentation strategy
when you cusotmize the product just for you
