Marketing & Customers
This is the process of creating, communicating, and delivering value to customers.
What is marketing?
This type of motivation comes from external rewards, such as a financial bonus.
What is extrinsic motivation?
This type of business is owned and usually controlled by one individual.
What is a sole proprietorship?
This occurs when two companies combine to form one company.
What is a merger?
Planning, organizing, leading, and controlling are the four basic functions of this.
What is management?
This practice builds positive customer relationships to encourage repeat business.
What is customer relationship management (CRM)?
This theory arranges human needs in levels, from basic physiological needs to self-actualization.
What is Maslow's hierarchy of needs?
This type of business is owned and governed by members who use or benefit from its services.
What is a cooperative?
This plan helps a business continue operating during an unexpected disruption.
What is a contingency plan?
These skills help managers identify problems, evaluate alternatives, choose the best solution, and evaluate results.
What are decision-making skills?
This is the process of dividing customers into groups based on characteristics such as age, lifestyle, or interests.
What is market segmentation?
This psychological state occurs when a person becomes deeply immersed in a task and may lose track of time.
What is flow?
Labor, natural resources, capital, entrepreneurs, technology, and intellectual property are examples of these.
What are the factors of production?
This type of merger occurs when companies at the same level of the supply chain, often selling similar products, combine.
What is a horizontal merger?
These leaders inspire others to work toward a shared vision or dream.
Who are visionary leaders?
This type of utility exists when a product is available at the time a customer wants it.
What is time utility?
According to Herzberg's two-factor theory, safe working conditions and company policies are examples of these.
What are hygiene factors?
This type of capital includes money used to finance a business and may come from investors or savings.
What is financial capital?
This analysis examines a company's strengths, weaknesses, opportunities, and threats.
What is SWOT analysis?
This management approach places employees in positions that make the best use of their individual strengths.
What is strength-based management?
This diagram helps identify possible causes of a problem, such as faulty production.
What is a cause-and-effect diagram?
This term describes employees feeling connected to their organization and invested in its success.
What is employee engagement?
In a limited partnership, this partner contributes capital and generally has limited involvement in managing the business.
What is a limited partner?
Under U.S. federal tax law, this type of corporation must meet eligibility rules that include having no more than 100 shareholders and generally only one class of stock.
What is an S corporation?
This organizational structure distributes power among groups and teams rather than concentrating it at the top.
What is a horizontal organization?