EC-071
Producing goods and services
What best describes the primary business activity of operations?
To accomplish the business’s goals
What is the main purpose of management?
human resources
What are the people who work to produce goods and services known as?
You have happy customers
What does having positive customer relations mean?
by avoiding wasted time and resources
How can positive customer relations boost productivity?
One business activity changes, so the others must adjust
Which of the following demonstrates the interrelationship among primary business activities?
technical skill
What is a manager who helps an employee count the money in a cash drawer and prepare a bank deposit demonstrating?
compensation
What is a commission or bonus a form of?
proactive
What must a business be to build customer relations?
compliance
What does making sure a company follows laws and regulations describe the HR management activity of?
organized effort to produce goods and services.
What can a business be described as?
Communicate clearly
What must managers be able to do if they want employees to understand the business’s goals and be productive?
determining need
What is the first task in the HR management activity of staffing?
A business listens to customer feedback
What describes positive customer relations?
strategic management
When HR management executives participate in a company’s long-range planning efforts,what are they taking part in?
inventory management
What part of the business makes sure that the business has enough of a product in stock without having too much on hand?
President, senior vice president, and chief executive officer
What is an example of top-level job titles?
recruiting
What is the part of staffing that involves seeking out and attracting qualified potential job candidates called?
It is one of the least expensive ways to compete with other businesses
What is a benefit of building positive customer relations?
hazard, operational, strategic, and financial
What are the general classifications of business risks?
Nonprofit business
What is a business that exists to fulfill a specific business or undertaking called?
Their decisions affect the entire company
Why do top-level managers usually receive high salaries?
orientation
What is an example of an on-boarding activity?
it’s less expensive than attracting new customers
Why do businesses strive to retain current customers?
exceptional quality, special features, trained personnel, outstanding customer service, convenience, modern facilities, and a wide variety of products
What are some ways businesses can engage in nonprice competition?