Nath & Lina Flashcards
Distribution channels
A chain of businesses or intermediaries through which a good or service passes until it reaches the final buyer or the end consumer, in other words, the paths that products and services take on their way from the manufacturer or service provider to the end consumer. It can include wholesalers, retailers, distributors, and even the internet.
Self-appraisal
It entails asking an employee to reflect on and assess their job performance over a period of time. The overall purpose is to put an employee in charge of their own professional development and keep track of the produced quality.
Public limited company (PLC)
An incorporated business that allows the general public (via. a stock exchange) to buy and sell shares in the company. They have limited liability.
Division
A separate department of the business.
Formative appraisal
An appraisal at the beginning, middle and end of a training placement or at regular intervals during an employee’s employment. The purpose is to inform the employee about their performance; where they have done well and outline possible areas of improvement.
Stock management
The practice of ordering, storing, tracking, and controlling inventory. It applies to every item a business uses to produce its products or services – from raw materials to finished goods.
Growth potential
An organization’s future ability to generate larger profits, expand its workforce and increase production. It heavily depends upon its leadership’s expectations for success, and the quantitative and qualitative measures.
Market research
The process of gathering data on goods and services to determine whether the product or service will satisfy customers’ needs.
Point of sale (POS)
A place where a customer executes the payment for goods and services where taxes may become payable. Transaction may occur in person or online.
