Recruitment
What is recruitment?
the overall process of identifying, sourcing, screening, shortlisting, and interviewing candidates for jobs within an organization.
What is a definition of marketing?
Open answer
What is market structure?
What is the business cycle?
intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms
What is corporate social responsibility?
Corporate social responsibility is a business model by which companies make a concerted effort to operate in ways that enhance rather than degrade society and the environment. CSR can help improve various aspects of society as well as promote a positive brand image for companies.
What is “confirmation bias“?
the tendency to search for, interpret, favor, and recall information in a way that confirms or supports one's prior beliefs or values.
What does brand positioning mean?
the unique value that a brand presents to its customer. It is a marketing strategy brands create to establish their brand identity while conveying their value proposition, which is the reason why a customer would prefer their brand over others.
Which term matches this definition?
the official legal right to make or sell an invention for a particular number of years
Patent
List all stages of the business cycle in order.
Expansion, peak, recession, trough, depression, (recovery/expansion)
List the 4 main types on CSR and define them.
Environmental: refers to the organization’s commitment to sustainability and environmentally friendly operations.
ethical: refers to a company’s commitment to operate their business in an ethical manner that upholds human rights principles, such as fair treatment of all stakeholders, fair trade practices and equal pay.
economic: refers to the practice of making financial decisions based on a commitment to doing good.
philanthropic: refers to a corporation’s aims, goals and objectives for actively bettering society as a whole. (Charity work or organizations)
What is the definition of „cue“?
A sign or signal for someone to do or think or believe something.
What is “brand loyalty“? And what are the three stages of brand loyalty?
Brand loyalty: the degree of consumer attachment to a particular brand of product or service
Three stages: brand recognition, brand preference, brand insistence
Define: „market leader“, „market challenger“, and „market follower“
Market leader: with the biggest market share
market challenger: the second-biggest company in the industry
market follower: a new member or smaller business in the industry
What is the difference between balance of payments (bop) and gross domestic product (gdp)?
Bop: the difference between the funds a country receives and those it pays for all international transactions
gdp: the total market value of all the goods and services produced in a country during a given period.
How are socially responsible actions by businesses considered by some to be „undemocratic“?
They are doing the jobs that should be done by governments, and if a government is not doing these things it is because the electors chose a government that did not say it was going to do them.
List at least TWO different techniques that employers utilize to prepare for interviews.
Read over applicant CVs & cover letters, call references, review the job description that was posted, hire an employment agency, form a recruitment board for the interview, practice professionalism
What is marketing style? & give an example
an organization's promotional efforts to allocate its resources across a wide range of platforms and channels to increase its sales and achieve sustainable competitive advantage within its corresponding market.
example: open answer
Which term matches with this definition?
groups of companies in the same industry that establish themselves in the same area.
(Industrial) Clusters
What is Keynesianism?
because prices are somewhat rigid, fluctuations in any component of spending—consumption, investment, or government expenditures—cause output to change. If government spending increases, for example, and all other spending components remain constant, then output will increase.
What are the different schools of thought or positions when it comes to business and CSR?
Companies either do or do not have an obligation to act and behave ethically responsible.
It is the government‘s job to ensure businesses behave ethically.
So long as you abide by the law, everything is ok.
Companies have different obligations where ethical concerns aren’t prioritized.
List the first 3 steps of the recruitment process.
1. Discover why the person resigned/quit/was fired, etc.
2. Review the job description to see if anything needs to be changed.
3. Either decide not to replace the person but to modify other jobs or decide to replace the person.
What are the 4 stages of the product life cycle?
Introduction stage, growth stage, maturity stage, decline stage
Is there a difference between a niche market and a market segment?
A niche market is small while as a market segment is large
What are all of the characteristics of each of the stages of the business cycle?
Open answer
What is the definition of „caveat emptor“?
the principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made.