Business and Sports Management
Terms
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- Marketing Mix is made up of the 4
- P's
- Recognizable Design transferred to clothing and other items
- LOGO
- All the pieces of the organization work together in a smooth, effective, and efficient manner
- SYNCRONIZED
- Leverage is the organization's advantage over the competition
- SUSTAINABLE
- Collective results of the organization's employees
- SYNERGY
- Just beginning, new
- INTRODUCTION
- High profits, others enter market
- GROWTH
- Sales are great, $ spent on promotions
- MATURITY
- Profits no longer appealing
- DECLINE
- Groups of people with similar needs to whom the company can sell its product
- TARGET MARKET
- Specific financial plan that assists managers in determining the best way to use avaliable FINANCIAL resources
- BUDGET
- Detailed written description of the marketing activities that must be accomplished to make an event successful
- MARKETING PLAN
- The science of producing and using goods and services that people WANT
- ECONOMICS
- The income that remains after expenses
- DISPOSABLE/DISCRETIONARY
- Businesses that sell directly to final customers
- RETAILERS
- Businesses that buy products from businesses and sell them to retailers or other buisnesses
- WHOLESALERS
- The price of a product is determined by
- SUPPLY AND DEMAND
- This type of business produces goods that other businesses use to make thing
- INDUSTRIAL
- Method of starting a business for a person with limited business experience
- FRANCHISE
- The majority of workers in tis country are employed by what size business
- SMALL
- The difference between earned income and and costs
- PROFIT
- Goals that take more than one year to complete
- LONG TERM
- Opportunities in women's sports increased when Title IX law was passed in
- 1972
- A good measure of our nation's wealth is throu the
- GDP
- Governing body of collegiate athletics
- NCAA
- The ability to influence individuals and organizations
- LEADERSHIP
- An athlete's legal representative
- AGENT
- General statement of an organization's purpose
- MISSION
- Tangible, measurable outcomes for the company objectives
- GOALS
- Specific company priorities
- OBJECTIVES
- Standards to evaluate the success
- MEASURES
- The requirements of each position in an organization
- JOB OBJECTIVES
- Inexpensive items
- CONVENIENCE
- Purchased less frequently- require some thought
- SHOPPING
- Products that customers insist upon having- willing to search and pay higher $
- SPECIALTY
- Purchasing products that had NOT been planned
- UNSOUGHT
- Providing personalized and persuasive info to customers to help them buy
- SELLING
- Creating a perception tha separates an organizatoin from its competitiors- recognition of brand
- BRAND MARKETING
- Providing $ needed to perform marketing activities for the company and consumer
- FINANCING
- Selling additional products to the customer beyond the original purchase
- UPSELLING
- Using advertising to communicate info about products, images, and ideas to achieve a desired outcome
- PROMOTION
- Ability of a service or good to satisfy a want
- UTILITY
- Non-monetary benefit
- PERK
- Takes shape
- FORM
- Available when needed
- TIME
- Consumer purchases
- POSSESSION
- Arrives at the market
- PLACE
- The official beverage of the NFL
- PEPSI
- The bottom line in sports:______ is everything
- WINNING
- Deciding what is right and wrong
- ETHICS
- Financial and business counselors
- ADVISORS
- Things of value that a business owns
- ASSETS
- Debts of a business, amount owed
- LIABILITIES
- Assets-liabilities =
- OWNER'S EQUITY
- Sharing of info which results in a high level of understanding
- COMMUNICATION
- Receiver's response to sender's message
- FEEDBACK
- NOT a barrier to communication
- DISINTEREST
- NOT a form of communication
- "IN PERSON"
- Shared values, beliefs, and behavior in an organization
- CORPORATE CULTURE
- Info that travels quickly and is distorted
- GRAPEVINE
- % of poor management decision due to ineffective communications
- 80
- situation where one person interferes with the achievement of another person's goals
- CONFLICT
- NOT a conflice resolving stratagy
- AWARENESS
- Most important point in improving communications is to _____ actively and provide effective feedback
- LISTEN
- Communication best suited for a reprimand or dispute
- ORAL
- Communication used when a future action is needed
- WRITTEN
- Delivery of concise info
- Type of organizations that are few in # but large in size
- CORPORATION
- The certificate of Incorporation is called a
- CHARTER
- This is granted by the ____ in which the organizations is located
- STATE
- The ruling body is called the
- BOARD OF DIRECTORS
- The owners of the coporation
- STOCKHOLDERS
- These owners usually receive $ quarterly
- DIVIDENDS
- If Jerry has 90 shares of GE stock, how many votes may he cast
- 90
- If Jerry can not attend the meeting, he may vote by
- PROXY
- General term used for stock
- CAPITAL
- Dividends are taxed
- TWICE
- Owned and operated by its user-members
- COOPERATIVE
- Organization that does NOT pay taxes
- NONPROFIT CORPORATION
- Top executive of a corporation
- CEO
- Agreement given by the government to an inventor
- PATENT
- Agreement given for literary and artistic
- COPYRIGHT
- NOT one of the 3 most common forms of taxes
- SCHOOL
- Legal process that allows selling assets to pay off debt
- BANKRUPTCY
- Business operations that cross over state lines
- INTERSTATE
- A copyright is valid for the life of the author + ____ years
- 70
- Name, symbol, etc, legally reserved for the owner
- TRADEMARK
- Business operations that are transacted withing a state
- INTRASTATE
- Quality and quantity of work increases whne using
- WORK TEAMS
- Rules of conduct that set standards for what is valued as right or wrong
- CODE OF ETHICS
- Groups that are affected by a firm's actions
- STAKEHOLDERS
- Invisible barrier to job advancement
- GLASS CEILING
- men and women should receive equal
- PAY
- Creating and choosing alternatives to reach a goal
- DECISION MAKING
- Process of choosing actions to combat a problem
- PROBLEM SOLVING
- Carefully though out decisions, decisions that have been used before
- PROGRAMMED
- Type of decision for which there is NO history or process
- NONPROGRAMMED
- Defines the roles of members
- TEAM
- Financial document that projects attendance and revenue, 3-year window
- PERFORMA
- Questionnaires are used
- DELPHI
- Each works separately then shares with the group
- NGT
- Wirte ideas then anonymously exchange papers
- BRAINSTORMING
- "Make familiar strange and the strange familiar"
- SYNECTICS
- Manager makes all the decisions
- AUTOCRATIC
- Manager calls upon others to share in the decision
- CONSULTATIVE
- Rational method using time-tested methods
- OPTIMIZING
- Based on hunches, guesses, intuition
- INTUITIVE
- Based on minimum standards of acceptance
- SATISFICING
- Danger of failing
- RISK
- Written guide used during business startup
- BUSINESS PLAN
- To whome $ is owed
- CREDITORS
- Loss restricted to investment
- LIMITED PARTNERSHIP
- Way to expand a sole proprietorship
- PARTNERSHIP
- All partners are fully responsible for all business debts
- UNLIMITED FINANCIAL LIABILITY
- Tax levied on specific products such as gasoline
- EXCISE TAX
- Taxes paid on monies recieved
- INCOME TAX
- Responsible for injury arising from wrongful use of data
- INFORMATION LIABILITY
- May exist when competition is lacking
- MONOPOLY
- Specified which areas of land may be used for homes and different types of businesses
- ZONING
- FAA
- Federal Aviation Administration
- FDA
- Food and Drug Administration
- FTC
- Federal Trade Commission
- FCC
- Federal Communications Commission
- SEC
- Securities and Exchange Commission