Business Experienc #3
Terms
undefined, object
copy deck
- Who developed the Internet, and what year?
- Internet or net-Developed by Defense Dept in 1969.
- www
- world wide web
- document composed of electronic pages
- website
- web site address
- domain name
- ISP. What does it stand for?
- Internet service provider
- an address identifying the location of a file on the Internet
- URL
- What are the four functions of the net?
- communication (email most popular application), information (portals), Entertainment and E-commerce.
- business to business e-commerce-electronic business transactions between organizations using the Internet.
- B2B
- Business to consumer e-commerce- electronice business transactions between organizations and final customers using the Internet.
- B2C
- What has the larger value B2B or B2C?
- B2C has the larger $ value
- EDI
- Electronic data interchange
- web sites that offer items for sale to consumers
- Electronic storefronts
- process of encoding data for security purposes
- Encryption
- electronic barrier between a company’s internal network and the Internet that limits access into and out of the network
- Firewall
- What are the two most common types of internet frauds?
- auction fraud and investment scams
- Traffic jams
- delays and sometimes outages of internet use
- Poor website design
- important for costumers to know how to use the site
- Seperation can be either______or ______.
- voluntary or firing
- Interviews some business have to know why an employee is leaving and to see and get ideas to make the company better.
- exit interviews
- Process of reducing the number of employees within a firm by eliminating jobs.
- Downsizing (+/-)
- Practice of contracting out work preciously preformed by company employees.
- Outsourcing (+/-)
- job design that expands an employee’s responsibilities
- Job enlargement
- change in job duties to increase employee’s authority
- Job enrichment
- assumes that employees dislike to wokr and try to avoid it whenever possible.
- Theory X
- assumes that the typical person likes work and learns, under proper conditions, to accept and seek responsibilities to fulfill social, esteem, and self-actualization needs.
- Theory Y
- Employee who works part time, temporarily, or for the period of time specified in a contract.
- Contingent Workers
- Group of workers who have banded together to achieve common goals in the workplace
- labor union
- Union tactics
- Boycott, picketing & strike
- Management tactics
- lockout, strikebreakers & injunction
- TQM, What does this stand for?
- Total Quality Management
- Giving employees authority and responsibility to make decisions about work
- Empowerment
- Trust employees
- provide info on “their†company
- ESOP
- employee stock ownership plans
- The cooperative effort by a group of workers acting together for a common cause.
- teamwork
- Group of employees who are committed to a common purpose, approach, and set of performance goals.
- team
- Problem solving-teams
- temporaily
- Work teams
- permenant
- Which team is more common? Problem solving- teams or work teams?
- problem solving
- A team where each person has a specific job and must complete that job.
- Self-managed teams
- A team where the team members help each other reach a common goal
- Cross functional teams
- What are team functions?
- Role, Size and Diversity
- ______ is very critical to organization’s success.
- communication
- Skill of receiving a message and interpreting its intended meaning by grasping the facts and feelings it conveys.
- listening
- transmitted through speech (personal convos, speeches, meetings, voice mail, telephone convos, and video conference.)
- oral communication
- transmitted through writing (letters, memos, e-mail, etc.
- Written Communication
- transmitted in the form of words (meetings, telephone calls, voice mail, videoconferences)
- Verbal Communication
- transmitted through actions and behaviors rather than through words (gestures, facial expressions, posture, etc.)
- Non-verbal Communication
- An internal channel that passes info from unofficial sources.
- grapevine
- messages sent through channels within an organization
- internal communication
- meaningful exchange of info through messages transmitted between an organization and its major audiences.
- external communication
- Convert into finished goods
- Production
- Difference in production and manufacturing
- Production is a Broader term that spans both manufacturing and nonmanufacturing industries
- resources, raw materials in the production process.
- inputs
- Add value in the production process.
- Conversion Process
- goods, and services in the production process
- Outputs
- Typical production systems
- Example: Department store- PRIMARY INPUTS- building, displays, scanners, merchandise, etc.-TRANSFORMATION- attracts customers, stores goods, sells products- OUTPUTS- Merchandise sold
- Manufacturing products in large amounts using employees with specialized skills, mechanization, and standardization
- mass production
- using information technology
- flexible production
- establish computer links between factories and retailers’ scanners
- Customer Driven Production
- combines different people with different strengths to work together
- Team concept
- Reprogrammable machine capable of performing a variety of jobs that require manipulation of materials and tools
- robots
- CAD, What does this stand for?
- computer aided design
- CAM, What does this stand for?
- computer aided manufacturing
- FMS, What does this stand for?
- flexible manufacuring system
- Supplier Selection
- right price/right QTY/right time
- requires them to balance the need to keep stocks on hand to meet demand against the costs of carrying inventory
- Inventory control
- aimed at improving profits and return on investment by minimizing costs and eliminating waste through cutting inventory on hand.
- JIT- Just-in-time system
- creates a well-defines set of procedures for coordinating people, materials, and machinery to provide maximum production efficiency.
- Production control
- phase of production contol, managers develop timetables that specify how long each operation in the production process takes and when workers should perform it.
- Scheduling
- Process of determining customer wants and needs and then providing the goods and services that meet or exceed expectations
- Marketing
- PPDP
- Product, Price, Distribution, Promotion
- 5 elements in the environment.
- Political/Legal, Social/Cultural, Technological, Competitive, Economic
- who is the center of a marketing strategy?
- The customer
- Time, form, place and ownership
- Utility
- Value perception
- Customer satisfaction
- the way a producer produces its goods and the way it is made
- quality
- helps a company know what they need to work on.
- Customer feedback
- Toby Keith Promotional Tour is an example of what type of marketing?
- Person Marketing
- The T-shirts I love New York, Promoting the City is an example of what tyep of marketing?
- Place Marketing
- Steroids issue, promotes a cause or social issue
- Cause Marketing
- Athletic competitions
- event marketing
- influences consumer to accept the goals of or contribute to the organization.
- Organization Marketing
- products or services sold directly or indirectly
- B2B
- products such as shampoo and DVDs
- B2C
- Process of collecting and evaluating info to help marketers make effective decisions
- Market research
- Using a computer to search through massive amounts of customer data to detect patterns and relationships
- Data Mining
- Process of dividing a market into several relatively homogeneous groups
- Market Segmentation
- Developing and maintaining long-term, cost-effective exchange relationships with individual customers.
- Relationship Marketing
- Two or more businesses team up to closely link their names for a single product
- Co-Branding
- Another tool for building emotional links with customers
- Affinity Program
-
Manufacturer’s brand is a brand offered and promoted by a manufacturer
Private label brand- identifies a product that is not linked to the manufacturer but instead carries a wholesaler’s or retailer’s label. - Manufacturer’s brand vs. private label brand
- typically purchased only after the buyer has compared competing products in competing stores.
- Shopping products
- those that a purchaser is willing to make a special effort to obtain.
- Specialty products
- long-lived and relatively expensive
- Capital goods
- used in a firms’s daily operation that do not become part of the final product.
- Expense goods
- less expensive and shorter lived than installations and involve fewer decision makers
- Accessory goods
- farm and natural products used to produce other products.
- Raw Materials
- includes paper clips, light bulbs, and copy paper.
- MRO- (Maintenance, Repair, Operating)