Chapters 8 & 9: Communications and Marketing
Information that is transferred from a sender to a receiver.
What is Communications?
What is a Product?
What is Operations Management?
This measurement system summarizes activities, finances, and etc. to stakeholders and other upper management.
What is Accounting?
An amount of money that a bank can hold on to.
What is a Reserve?
When a group pressures you into making decisions.
What is Groupthink?
Similar business that compete with one another.
What is an Industry?
Goods that are made to the needs and wants of the customer.
What is Make-to-order Strategy?
This person or group has a stake within the business.
What is a Stakeholder?
Government securities on an open market that can be bought or sold.
What is open Market Operations?
Being able to work with a team across the world through technology.
What is a Virtual Team?
Another word for a "Trademark" that protects your rights to your ideas.
What is a Patent?
This acronym represents when materials arrive just in time for the manufacturing process.
What is Just-in-time (JIT) production?
This is a revenue and expense report that determines if a business made a profit.
What is an Income Statement?
individuals that are wealthy and willing to invest in ventures they believe in.
What are Angels?
The activities involved in producing and distributing products.
What is a Supply Chain
A long process that involves different activities that makes a product idea into a final product.
What is Product Development Process?
Manufactured products that are from outside vendors.
What is Outsourcing?
This is the contrast between cost of goods sold and sales.
What is Gross Profit?
This represents a measurement of the sensitivity of demand to changes in price.
What is Price elasticity?
Collected information that refers to the target market.
What is Secondary Data?
A description of a product and how it might look and work.
What is a Product Concept?
Companies use this technique to monitor quality with statistics.
What is Statistical Process Control (SPC)?
The amount of sales dollars that is left after certain costs are covered.
What are Profit Margin Ratios?
When the prices in the stock market are in decline.
What is Bear Marketing?