Management Basics
A manager who spends almost all of their time on management functions and decisions that affect the entire company
What is an executive?
SWOT meaning
What are strengths, weaknesses, opportunities, and threats?
Segmenting a market by age, race, religion, marital status
What are demographics?
The process of looking for and attracting qualified applicants to fill a job:
What is recruitment?
A business owned by two people who share the profit
What is a partnership?
A common set of activities that makes up an important part of a manager’s job
What is management role?
Anything of value owned
What is an asset?
Satisfying customer wants and needs
What is the marketing concept?
An evaluation of an employee's work performance over a certain period of time
What is a performance appraisal?
A business that was created for expanding an original business
What is a franchise?
This type of leader focuses on matching actions to circumstances & utilizes multiple leadership styles
What is situational leadership?
An asset’s original value minus the total amount of depreciation
What is book value?
The percentage of total sales within a market that is captured by a company
What is market share?
The ongoing education and training of employees to maintain and extend their capabilities for current and future jobs
What is employee development?
A business owned by many people who are considered shareholders
What is a corporation?
What level of management directs the everyday work of employees?
What is a supervisor?
Claims against assets
What are liabilities?
The 4 P's of the Marketing Mix?
What is price, product, promotion, and place?
Something that encourages one to act
A business known for doing something for a good cause
What is a non-profit?
Identifies the most effective practices for organizing employees and managing a business
What is administrative management?
A company's total earnings after subtracting all expenses
What is net profit?
Misleading in some important way, including the failure to reveal facts about possible results from using the advertised products
What is false advertising?
A way businesses can learn why someone is leaving and if there is anything they can improve upon
What is an exit meeting?
A federal government agency that helps aid, counsel, assist and protect the interests of small business concerns
What is the Small Business Administration (SBA)?