sl bm Flashcards
adv/disadv of primary (market/employee) research
adv: specific/personalised results, qualitatitve and quantitative results
disadv: may not be honest, reservations while answering the survey, time and resource consuming
multinational company
a business that operates in two or more countries. usually a large organisation that benefits from economies of scale such as lower production costs
fringe benefits
financial benefits for employees which are in addition to their wage or salary. Some examples of fringe benefits include employee discounts, insurance, paid leave
summative appraisal
measure employee’s success based on predetermined benchmarks. used to influence pay, annual bonus, or internal promotion
formative appraisal
combination of formal and informal assessment. typically involves qualitative FEEDBACK that allows for employee growth n improvement (no sense of fail/pass)
360 appraisal
not only supervisor, can be subordinates, colleagues, customers to provide feedback
self-appraisal
employee self-evaluation, in combination with supervisor’s evaluation to discuss rewards.
labour turnover
refers to the percentage of the workforce that leaves the company in a period of time. A company with high employee motivation will have a low labour turnover
market orientation
creating products based on market demand
price skimming
product pricing strategy by which a firm charges the highest initial price that customers will pay and then lowers it over time.
cellular manufacturing
workforce split into several cells that each work on one part of the whole production line
csr
csr is a concept where companies take into account the interests of various stakeholder groups and take responsibility for their business decisions
drawback of ARR
does not account for the years after forecasted period
