Exam 1 Review
A team created to take advantage of the special expertise of members.
What is a Cross-Functional Team?
A business owned by 1 person.
What is Sole-Proprietorship
Elements of a SWOT Analysis
What are strengths, weaknesses, opportunities, and threats?
Materials arriving as they are needed to go into inventory.
What is Just In Time Production?
This lists the duties and responsibilities of a position.
What is a job description?
Someone with interest in the success of your business.
What is a Stakeholder?
A company is purchased even though the company's management or board doesn't want it to be.
Describes the purpose of your organization
What is the Mission Statement?
A software tool that relies on sales forecasting and lead times of materials to calculate what needs to be ordered.
What is Material Requirements Planning?
Managers must comply with anti-discrimination laws made by this organization.
What is the EEOC (Equal Employment Opportunity Commission)?
Policy that relies on the government's powers of taxation and spending.
What is a Fiscal Policy?
A benefit that occurs through a merger or acquisition that would not be possible without it
What is a Synergy?
The leadership style of a manager who seeks input for decisions
What is Democratic?
Goods made to meet the needs of the buyer, like furniture.
What is Make-To-Order?
Enhancing a job by adding job tasks at a similar skill level.
What is job enlargement?
Someone who exposes illegal or unethical behavior in a workplace.
What is a Whistleblower?
A firm investing other people's money into your company to get high returns.
A process for improving overall company efficiency and effectiveness by comparing performance to competitors.
What is Benchmarking?
Service firms produce this kind of product.
What is Intangible goods?
Being evaluated for your performance by peers, subordinates, customers, and/or managers.
What is 360 Feedback?
The difference, over a period of time, between the total flow coming into a country and the total flow going out.
What is Balance of Trade?
How to protect your Intellectual Property
What is a Patent?
Accomplishing goals as accurately as possible.
What is effectiveness?
Companies using lower cost specialized labor to save money.
What is Outsourcing?
The percentage of workers who leave an organization and must be replaced
What is Turnover?