Employee Management
This leadership style focuses on finding new, original solutions to problems.
What is innovative leadership?
This is how much a product seems to be worth.
What is perceived value?
This is who buys the item.
What is the customer?
This channel has no middle man, and the product goes straight to the customer.
What is direct channel?
Explain fixed vs. variable costs.
Fixed - stay the same no matter how much produce you sell.
Variable - go up or down based on production value or sales activity.
This leadership style incorporates employee feedback and thoughts before making a decision.
What is collaborative leadership?
These are all 5 C's of Price.
What is company objectives, cost, customer, competition, and channel of distribution?
This is who uses or eats the item.
This channel has one or more intermediaries.
Money kept after all expenses are paid.
Formula: Revenue - expenses = net profit
This theory says that employees do better when they receive recognition, clear communication, supportive leadership, and that they're influenced more by their social groups.
What is Human Relations Theory of Management?
This is when a small number of large firms dominate an industry and control most of the market share.
What is an oligopoly?
This is who builds the product.
What is the manufacturer?
This channel is a mix of having intermediaries and going straight to the customer.
What are hybrid channels?
What is a price war?
Price wars are when both companies lower their prices so much that both of them start losing money.
These three things help a team work efficiently: clear goals, regular updates, and this.
What is solving conflicts?
If profit is greater than costs, this is the result.
What is break even point?
This is who buys in bulk from the maker.
What is the wholesaler?
This is the price added to balance cost.
What is price markup?
What is market power?
A company's ability to influence product prices by setting prices above production cost without losing customers.
Toyota uses this incremental, constant improvement as a problem-solving approach.
What is Kaizen?
These are 3 types of channels of distribution.
What is direct, indirect, and hybrid channels?
This is who sells small amounts to the public.
What is the retailer?
This is what MSRP stands for.
What is Manufacturer’s suggested retail price?
What's a monopoly?
One company dominates a product with no real competition.