Business Concepts
_______________ are people with an interest or concern in a business that can be affected by any organization’s objectives, policies, or changes.
The action of making or manufacturing from components or raw materials, or the process of being so manufactured.
The organization and coordination of the activities of a business in order to achieve defined objectives.
___________ is an organization or economic system where goods and services are exchanged for one another or for money .
Measure of excellence or of being free from defects, deficiencies and significant variations .
An individual who is in charge of a certain group of tasks, or a certain subset of a company .
What is a MANAGER?
The study of individuals, households and firms' behavior in decision making and allocation of resources.
Describe the main purpose of Quality Assurance:
To avoid product recalls and returns, to save money .
Top-level management - Senior managers, executives, directors, CEOs
Middle Managers - Regional and general managers
First-level managers - Department Managers, supervisors, leads
Employees
The branch of economics that studies the behavior and performance of an economy.
Operations that produce tangible goods, which are physical products that can be held and seen.
What is Production , Research and Development (R&D), Purchasing, Marketing & Sales, Human Resources, Accounting and Finance, Customer Service?
The purpose of this initiative is to encourage companies to become more aware of the impact their company creates on their surroundings.
Any of these will suffice:
The way business is conducted , Employee treatment and morale, Customer treatment and loyalty, Leadership styles, Decision making style, Freedom of expression, Development of new ideas, Organizational structure and hierarchy.