production
which stage of production makes sure products meet set standard
quality control
which of the following is not a function of a human resources department?
hiring /firing, training, supervising employees, compensation
supervising
what are the three levels of management
upper, middle , lower
what are the 2 major functions of marketing
advertising and branding
what is a transaction
when something of value is exchanged
which department is responsible for buying raw material
purchasing department
name 3 forms compensation can take
hourly wage, salary, salary plus commission, straight commission, incentive bonus, performance based pay, fee for service, royalty or licensing fee, stock options
what are the 4 major functions of management?
leading, controlling, planning, organizing
name 4 methods of advertizing
radio, tv, newspaper, magazine
what does net worth refer to?
value of everything you own after all debts are paid
what is the purpose of grading a product?
helps consumers make informed buying decisions
what is an exit interview
an interview held with a departing employee
what is a purchasing manager responsible for?
sets up supply and delivery of raw materials
what is a trademark
a recognizable sign that identifies products or services
what does owner's equity refer to
financial portion of the business that belongs to the owners
what are the 4 stages of the production process?
purchasing, processing, quality control, grading
what is severance pay
providing a dismissed employee with a final payment when their job is terminated
which managr is responsible for making sure the company's products are sold using sales strategies
marketing and distribution manager
what is a slogan and give an example of a popular one
catchy advertising phrases - Just do it - Nike
how do you calculate net income
revenue minus expenses
give an example of conversion processing
turning sugar cane into sugar, etc
give an example of a job for each of the following categories: unskilled labour, semiskilled, skilled, professional
what function of management does setting goals fall under
planning
what are the 6 marketing activities
research, development, sales, distribution, advertising, promotion
name three reasons why accounting is important is important in a business
accountability, budgeting, taxation, financial statements, annual reports