Production
Raw Materials Supplied by Nature
What is Natural Resources?
A Hands-Off Management Approach Allowing Others to Have the Freedom to Make Their Own Decisions
What is Laissez-Faire Leadership?
The non-cash and cash rewards that employees gain from their employer for their work
What is Compensation?
A Catchy Phrase or Saying that is Attached to the Company’s Name
What is a Slogan?
Any Debt a Business Owes to Suppliers, Banks, etc.
What is a Liability?
An Investment of Money or Machinery used to Run a Business
What is Capital?
A Computers Working Memory that gets Erased Once Turning Off the Computer
What is RAM (Random Access Memory)?
Pay based incentives that are Calculated as a Percentage of Sales
What are Commissions?
Product, Price, Placement, and Promotion
What is The Four P’s of Marketing/The Marketing Mix?
A Financial Statement Outlining and Reporting Liabilities, Assets, and Owners Equity on a Precise Date
What is a Balance Sheet?
Business that buys goods from a manufacturer, usually in very large amounts, and in turn sells them to retailers
What is the Wholesaler?
Roughly 1000 Characters of Data
Job Analysis, Job Evaluation, Wage and Salary Surveys, Pricing the Job
What are the 4 Major Phases of Compensation?
A Good or Service that Meets a very Specific or Particular Need for a Specific Group of People
What is a niche?
An excess amount of assets or resources that is more than what is needed
What is a Surplus?
The Segment of the Economy that turns Natural Resources into Raw Materials
What is the Primary Sector?
A management style wherein one person controls all the decisions and takes very little inputs from other group members
What is Autocratic Leadership?
An Act that defines the rights and responsibilities of workers and employers in federally regulated workplaces
What is the Canadian Labour Code?
A Business that Produces Different Goods or Services but Targets the Same Market and Customers
What is Indirect Competition?
Any Expenses that Change Based on the Company’s Production such as Labour, Raw Materials, Utility Expenses, etc
What is a Variable Cost?
The Second Step of the Production Process that Makes Raw Materials Into a Finished Product
What is Processing?
A Network that Interconnects Computers Within a Limited Physical Area
What is LAN (Local Area Network)?
An Employee Benefit Program Enabling Employees to Own Stock in the Company they Work for
What is Employee Stock Ownership Plans (ESOP)?
Advertisements Put on Billboards, Transport Vehicles, Posters, and More that are Seen and Consumed “On The Go”
What is Out-of-Home Advertising?
A Share of Profits that a Company Pays Out to its Shareholders and Owners Based on Stock Owned
What is a Dividend?