From Management to Advertising Flashcards
What is nepotism?
Promoting relatives or friends
What is affirmative action?
Giving special treatment to people who have been discriminated before
Economies of scale
Decreasing unit costs through increased capacity.
What is procurement?
Getting supplies.
What is Tokenism?
Women are in high or good positions only to make the company look good
Lobbying?
Using contacts to influence decision makers
The difference between Futures and Forwards?
Futures - standardized deals for fixed quantities and time periods
Forwards - non-standard, “over the counter”, individual deals between two parties
Hedge fund?
Hedging?
Hedge fund - alternative investment fund that uses a variety of (risky) investing strategies to achieve a higher return’
Hedging - making contracts to buy or sell commodities ( raw material or primary product) or financial assets in the future, at a pre-arranged price as a protection against price changes.
Outsourcing?
Hiring other company to do the work for you
Matrix management?
Subordinates report to several supervisors
Primary data vs Secondary data?
Primary - field research, not yet collected data (surveys, panels, market test)
Secondary - desk research, already available information (newspapers, reports etc)
Critical mass?
The amount needed to start and sustain a change
Risk premium?
Advantage, benefit
The four P’s of Marketing?
Product
Price
Place
Promotion
The for C’s of Marketing?
Credibility
Consistency
Clarity
Competitivness
