Business Activities
makes money to fulfill a specific mission or undertaking
what is a nonprofit business
the people responsible for management
what are managers
the process of planning, staffing, leading and organizing employees
what is human resources management
customer relations is often used interchangeably with this term
what is customer service
competition that occurs among businesses with dissimilar goods and services
makes money to fulfill financial goals
what is a for profit business
the first step a manager does to identify goals; this also lays the groundwork for all of the other management functions
what is planning
starts with determining need with interviewing and hiring following
what is staffing
a business must be _____ to build positive customer relations
what is proactive
A business offers a discount coupon. That is which type of competition
what is price competition
financial analysis, human resources management, information management, marketing, operations, and strategic management
what are business activities
important function because it helps the business find employees who know how to do necessary work
what is staffing
comes in different forms for different employees and is what is earned after completed work
what is compensation
this is what every business depends on to survive
what are customers
this occurs when a business that compete on a basis other than price to attract customers
what is non price competition
the process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources.
what is financial analysis
managers monitor the work effort as well as making sure the business is performing effectively and achieving their goals
what is controlling
comes in forms of health insurance, retirement accounts, paid vacation and sick time
what are benefits
when customers are happy they will often tell others about the business
what is word-of-mouth promotion
to exist, many businesses must sell identical products to many buyers
what is perfect competition
the process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data.
what is information management
technical, interpersonal, and conceptual
what are important management skills
their first task is to determine training needs for new employees
what are human resource managers
businesses need to identify this and building their positive customer relations to be successful with happy customers
what is target markets
the market is controlled by one business
what is a monopoly