Introduction to the economic activity (MANAGEMENT 1)

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8 Terms

1
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Primary stakeholders

necessary for a firms survival (Customers, employees, suppliers, and investors)

2
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Secondary Stakeholders

Have an indirect relationship with the firm (Media, trade associations, special interest groups) 

3
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Management deals with this group of people…

employees

4
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Marketing deals with this group of people…

Customers

5
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Finance deals with this group of people…

owners

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The 4ps of marketing are

price, place, product, promotion

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what is the goal of managament 

Turn the factors of production and intangible resources into a competitive advantage 

8
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GDP

The sum of all good and services produced in a country during a year