final ch 4,7,10,11,13 Flashcards
compliance based ethic codes
ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers
corporate philanthropy
the dimension of social responsibility that includes charitable donations
corporate policy
the dimension of social responsibility that refers to the position a firm takes on social and political issues
corporate social initiatives
enhanced forms of corporate philanthropy directly related to the company’s competencies
corporate responsibility
the dimension of social responsibility that includes everything from hiring minority workers to making safe products
corporate social responsibility
a business’s concern for the welfare of society
ethics
standards of moral behavior
insider trading
insiders use private company information to further their own fortunes or those of family/friends
integrity based ethic codes
ethical standards that define the organizations guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees
social audit
a systematic evaluation of an organizations progresses toward implementing socially responsible and responsive programs
whistleblowers
insiders who report illlegal or unethical behavior
autocratic leadership
making managerial decisions without consulting others
contingency plans
process of preparing alternative courses of action that may be used if primary plans don’t achieve the organizations objectives
controlling
management function involving establishing clear standards to determine whether or not an organization is progressing towards its goals and objectives, rewarding people for doing a good job and taking corrective action if they aren’t
empowerment
giving frontline workers the responsibility, authority, freedom, equipment they need to respond to customer needs quicker
external customers
dealers who buy products to sell to others, and end users who buy products for personal use
internal customers
individuals and units within the firm that receive services from other individuals or units
knowledge management
finding the right information, keeping the information in a readily accessible place and making the information known to everyone in the firm
operational planning
process of setting work standards and schedules necessary to implement the companies tactical objectives
participative leadership
leadership style that consists of managers and employees working together to make decisions
PMI
listing all the pluses for a solution in one column, all the minuses in another and the implications in a third column
strategic planning
process of determine the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals
equity theory
idea that employees try to maintain equity between inputs and outputs compared to others in similar positions
expectancy theory
theory that the amount of employee effort exerted on tasks depends on their expectations of the outcomes
extrinsic reward
something given to you by someone else as recognition for good work; including pay raises, bonuses, promotion, praise
goal setting theory
the idea that ambitious but attainable goals can motivate workers and improve performance if the goals are accepted
Hawthorne effect
tendency for people to behave differently when they know they are being studied
hygiene factors
job factors that can cause dissatisfaction if missing but do not necessarily motivate employees if increased
intrinsic reward
personal satisfaction gained from completing something
job enlargement
a job enrichment strategy that involves combining a series of tasks into one challenging and interesting assignment
job enrichment
a motivational strategy that emphasizes motivating the worker through the job itself
job rotation
a job enrichment strategy that involves moving employees from one job to another
management by objectives
involving a cycle of discussion, review, and evaluation of objectives among top and middle-level managers, supervisors, and employees
Maslow’s hierarchy of needs
theory of motivation based on unmet human needs from basic physiological needs to safety, social and esteem needs to self-actualization needs
scientific management
studying workers to find the most efficient ways of doing things and then teaching people those techniques
affirmative action
employment activities to try and right the wrongs of past discrimination by increasing opportunities for those discriminated against
job analysis
study of what us done by employees with various titles
job description
summary of objectives of a job
job specifications
a written summary of the minimal qualifications required of workers to do a specific job
vestibule training
training done in classrooms where employees are taught on equipment similar to that on the job
management development
process of training and educating employees to become good managers and then monitoring the progress of their managerial skills over time
performance appraisal
an evaluation that measures employee performance against established standards in order to make decisions about promotions, compensation, training or termination
job simulation
The use of equipment that duplicates job conditions and tasks so that trainees can learn skills before attempting them on the job
geographic segmentation
dividing the market by cities, counties, states or regions
fringe benefits
benefits such as sick-leave pay, vacation pay, pension plans, and health plans that represent additional compensation to employees beyond base wages
core time
in a flextime plan the period when all employees are expected to be at their job stations
contingent workers
workers who don’t have the expectations of regular full-time employment
flextime plan
Work schedule that gives employees some freedom to choose when to work, as long as they work the required number of hours
cafeteria style fringe benefits
Fringe benefits plan that allows employees to choose the benefits they want up to a certain dollar amount
brand name
a word, letter or group of words that differentiates one seller’s goods and services from those of competitors
benefit segmentation
dividing the market by determining which benefits of the product to talk about
B2B market
All the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others
demographic segmentation
dividing the market by age, income and education level
customer relationship management
the process of learning as much as possible about customers and doing everything you can over time to satisfy them, or even exceed their expectations with goods and services
consumer market
all the individials or households that want goods and services for personal consumption or use and have the resources to buy them
environmental scanning
the process of identifying the factors that can affect marketing success
focus group
a small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization and its products
marketing
the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large
marketing research
the analysis of markets to determine opportunities and challenges, and to find the information needed to make good decisions
market segmentation
dividing the total market into groups with similar characteristics
marketing concept
three-part business philosophy: customer orientation, service orientation, a profit orientation
marketing mix
the ingredients that go into a marketing program: product, price, place, promotion
mass marketing
developing products and services to please large groups
one to one marketing
developing a unique mix of goods and services for one individual customer
niche marketing
finding small but favorable market segmentations and creating products for them
psychographic segmentation
dividing the market using the groups values, attitudes and interests
relationship marketing
marketing strategy with the goal of keeping individual customers over tine by offering them products that exactly meet their requirements
test marketing
the process of testing products among potential users
volume segmentation
dividing market by volume of use
