Unit 6 Running a Responsible Business
federal agency that defines business regulations regarding the environment.
Environmental Protection Agency (EPA)
advertising or publicity
promotions
a number that represents the overall picture of the credit report
credit score
coming up with new ideas
innovation
are responsible for managing employees. It is their job to know all the duties of the support staff and ensure that jobs are done correctly.
supervisors
the government agency responsible for monitoring safety in the workplace.
Occupational Safety and Health Administration (OSHA)
the ongoing connection between a company and those it services
customer relations
a report detailing how much debt the consumer owes and how well they pay it back.
credit report
modification
leadership is guiding the business and the employees through the steps to get a product or service from idea to customers.
product life cycle
indirect and non-cash compensation paid to employees
benefits
information collected directly by the business for its own purposes
primary data
The difference between with the product costs to produce and what the customer pays
markup
the potential market has been captured and there's no room for growth
saturated market
turning to individuals for private donations rather than traditional funding like banks or family.
crowd funding
A business's obligation to the community and the environment
social corporate responsibility
products purchased to go along with or to supplement another product
complimentary product
the highest price point of the market
ceiling
writing down as many ideas as possible, whether they are possible or not.
brainstorming
A hands off approach to leadership
laissez-faire
continuing education in a chosen field
professional development
a technique in which additional or more expensive options are presented to customers in the hopes that they will be persuaded to spend more money.
upsell
raising and lowering rates to mirror demand
price elasticity
the point where increasing investments does not equal increase results
diminishing returns
A type of leadership that directly rewards people for doing well and penalizes them for doing poorly.
transactional