Third Test Flashcards
human capital
reflects the organization’s investment in attracting, retaining, and motivating an effective workforce
job analysis
systematic analysis of jobs within an organization
job description
description of the duties and responsibilities of a job, its working conditions, and the tools, materials, equipment, and information used to perform it
job specification
description of the skills, abilities, and other credentials and qualifications required by a job
forecasting internal supply
the number and type of employees who will be in the firm at some future date
forecasting external supply
the number and type of people who will be available for hiring from the labor market at large
replacement chart
list of each management position, who occupies it, how long that person will likely stay in the job, and who is qualified as a replacement
employee information skills (skills inventory)
computerized system containing information on each employee’s education, skills, work experiences, and career aspirations
Title VII of the Civil Rights Act of 1964
forbids discrimination in all areas of employee relationship
adverse impact
when minorities and women meet or pass the requirement for a job at a rate less than 80 percent of the rate of majority group members
Equal Employment Opportunity Commission (EEOC)
federal agency enforcing several discrimination-related laws
Age Discrimination in Employment Act
outlaws discrimination against people older than 40 years
Equal Employment Opportunity
legally mandated nondiscrimination in employment on the basis of race, creed, sex, or national origin
Age Discrimination in Employment Act
outlaws discrimination against people older than 40 years
Equal Employment Opportunity
legally mandated nondiscrimination in employment on the basis of race, creed, sex, or national origin
affirmative action
intentionally seeking and hiring employees from groups that are underrepresented in the organization
affirmative action plan
written statement of how the organization intends to actively recruit, hire, and develop members of relevant protected classes
Americans With Disabilities Act
forbids discrimination on the basis of disabilities and requires employers to provide reasonable accommodations for disabled employees
Civil Rights Act of 1991
amended the original Civil Rights Act
Fair Labor Standards Act
sets a minimum wage and requires the payment of …
Employee Retirement Income Security Act (ERISA) of 1974
ensures the financial security of pension funds by regulating how they can be invested
Family and Medical Leave Act (FMLA) of 1993
requires employers to provide up to 12 weeks of unpaid leave for family and medical emergencies
National Labor Relations Act…….. (skipped over next two)
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sexual harassment
making unwelcome sexual advances in the workplace
quid pro quo harassment
form of sexual harassment in which sexual favors are requested in return for job-related benefits
hostile work environment
form of sexual harassment …
employment of will
principle, increasingly modified by legislation and judicial decision, that organizations should be able to retain or dismiss employees at their discretion
Patriot Act
legislation that increased U.S. government’s power to invesitgate and prosecute suspected terrorists
recruiting
process of attracting qualified persons to apply for jobs an organization is seeking to fill
internal and external recruiting
…
marketing
organizational function and a set of processes for creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders
value
relative comparison of a product’s benefits versus its costs; value=benefits/costs
utility
ability of a product to satisfy a human want or need (form, time, place, possession)
consumer goods
physical products purchased by customers for personal use
industrial goods
physical products purchased by companies to produce other products
services
…
relationship marketing
marketing strategy that emphasizes building lasting relationships with customers and suppliers
consumer relationship marketing (CRM)
organized methods that a firm uses to build better information connections with clients, so that stronger company-client relationships are developed
data warehousing
the collection, storage, and retrieval of data in electronic files
substitute product
product that is dissimilar from those of competitors, but that can fulfill the same need
brand competition
competitive marketing that appeals to consumer perceptions of benefits of products offered by particular companies
international competition
competitive marketing of domestic products against foreign products
marketing plan
detailed strategy for focusing marketing efforts on consumers’ needs and wants
marketing objectives
the things marketing intends to accomplish in its marketing plan
marketing manager
manager who plans and implements the marketing activities that result in the transfer of products from producer to consumer
human resource management (HRM)
the set of organizational activities directed at attracting, developing, and maintaining an effective workforce
product mix
the group of products that a firm makes available for sale
product line
group of products that are closely related because they function in a similar manner or are sold to the same customer group who will use them in similar ways
speed to market
strategy of introducing new products to respond quickly to customer or market changes
service ideas
includes defining the service value package, identifying the tangible and intangible features that characterize the service, and stating service specifications
service process design
- Process selection
- Worker requirements
- Facility requirements
product life cycle (PLC)
series of stages in a product’s commercial life
stages in the PLC
introduction
growth
maturity
decline
product extension
marketing an existing product globally
product adaptation
modifying an existing product for greater appeal in different countries
reintroduction
reviving obsolete or older products for new markets
branding
process of using symbols to communicate the qualities of a product made by a particular producer
brand awareness
extent to which a brand name comes to mind when a consumer considers a particular product category
product placement
promotional tactic for brand exposure in which characters in television, film, music, magazines, or video games use a real product with its brand visible to viewers
national brands
brand-name product produced by, widely distributed by, and carrying the name of a manufacturer
licensed brands
brand-name product for whose name the seller has purchased the right from an organization or individual
private brand (or private label)
brand-name product that a wholesaler or retailer has commissioned from a manufacturer
packaging
physical container in which a product is sold, advertised, or protected
pricing
process of determining what a company will receive in exchange for its products
market share
company’s percentage of the total industry
markup
amount added to an item’s purchase cost to sell it at a profit
variable/fixed cost
cost that changes/remains stagnant with the quantity of a product produced and sold
price skimming
setting an initially high price to cover new product costs to generate a profit
penetration pricing
setting an initially low price to establish a new product in the market
direct-response retailing
firms interact with customers to tell them about products and geqt orders
mail order
non-store retailing where people see a catalog and mail in
telemarketing
telephone is uses to sell to consumers
direct selling
door-to-door sales
online retailing
info about products on computers
video retailing
non-store retailing to consumers via TV
physical distribution
activities needed to move product from manufacturer to consumer
warehousing
storing goods
private warehouse
deals with one company
public warehouse
independently owned and operated warehouse that holds stuff from many firms
prospecting
step in the personal selling process where salespeople ID prospective customers
qualifying
step in personal selling process where salespeople determine if people can and will buy a product
closing
step in the personal selling process where salespeople ask potential customers to buy products
direct marketing
business-to-business type stuff
publicity
promotional tool in which information about a company, a product, or an event is transmitted by media to get attention
public relations
company-influenced info to build goodwill with public or deal with unfavorable events
