Chapter 1, 2 & 3
All the processes and activities carried out to support operations and generate income
Business Functions
Benefits such as health insurance, health care flexible accounts, vacation, sick time, family leave, and retirement accounts that a business offers to its employees
Employee Benefits
The activity that focuses on getting the customer to buy the service when the business would like them
Demand Planning
The movement of money across members to finance the supply chain.
Cash Flow
An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Marketing
The moral principles that regulate or control a person's behavior
Ethics
The collective mixture of differences and similarities that includes, for example, individual and organizational.
Diversity
Items that are sellable to the customer
Finished Goods
The business who produces goods and wants to distribute them to its consumers.
Manufacturer
A formal document that defines marketing objectives and the specific strategies for achieving those objectives.
Marketing Plan
Refers to the sending of information from one person, group, or place to another
Communication
Refers to fairness, that is, fair treatment for all
Equity
The goods that a company makes and buys to be able to provide a good or service.
Inventory
Consists of all the internal and external partners who participate, beginning with the raw materials or supplies and ending with the final consumer making use of the product or service.
Supply Chain
When customers buy a product from the same supplier again and again - sometimes paying even more for it than they would for a competitive product.
Customer Loyalty
A group of businesses that are classified together based on their primary business activities
Industry
The business function responsible for finding, selecting, recruiting, and training job applicants, while managing employee-benefits programs; in addition, this function is also responsible for compensation, termination, and keeping up with laws, and regulations applicable to employees.
Human Resources
The Identification of waste anywhere in a process and removing it
Lean
The planning and administration of all activities needed to source and purchase, conversion, and all logistics management activities.
Supply Chain Management
The process of gathering, interpreting, and applying information to uncover marketing opportunities and challenges, and to make better marketing decisions.
Marketing research
An approach businesses take to sustainably develop their operations by providing environmental, economic, and social benefits for all stakeholders
Corporate Social Responsibility (CSR)
Also known as employee orientation, is the process for integrating new employees into a business by familiarizing them with the business' policies, organizational culture, and their role within the business.
Onboarding
Another name for buying
Outsourcing
A place, such as a room or building, where finished products are stored until their distribution is for sale.
Warehouse
A pattern of sales and profits that typically change over time.
Product Life Cycle