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Anti-Trust laws
laws that prevent people from restricting competition
After discovering your group's purpose, you should
agree on ground rules
Continuous Improvement
continuously evaluating business processes to make them more efficient and effective
Business Process Management
constantly striving to align its objectives
and activities with customer needs
Organizational Structuring
the way business functions relate within a company
Distribution Channel Members should keep in mind that customers tend to ...
define service differently
What do businesses need to do to adapt to today's markets
Analyze Organizational resources (everything a business uses to operate)
Tangible Product
product that can be touched
If you are not self-employed you can receive ...
vacation pay
Ethics is important in accounting bc financial records can be ...
interpreted in different ways
Farmers Almanac
provides long-range weather forecasts
Chamber of Commerce
provides stats on tourist info
perfect correlation of variables
r=1
Variables do not vary together at all
r=0
-1 > r > 0
one variable increases as the other variable decreases
0 > r > 1
the two variables tend to increase or decrease together
A quick, cost-efficient way to obtain current information is by
Accessing the internet search engine
Information management can be a challenge because
not many people know what it is or what role they should play in it
Digital convergence
digital services that
were once separate entities to combine into new forms
A chain of hotels might analyze and interpret the marketing information contained in
databases in order to
compare several variables that change from property to property
Some businesses use software programs that help maintain the
security of data they send over the Internet to clients. These programs prevent
documents from being forwarded
before asking everyone you know to
make a contribution, you should
prepare a budget
What is something you do not need to complete your project
sponsors
When businesses use an automatic reorder system, an order for
additional
supplies is placed when the inventory decreases to an established level.
What production activity establishes a timeline?
Scheduling
What is one of the main benefits for participating in a trade show?
Obtain sales leads (consumers show interest in a product)
IN the travel and tourism industry, customers' perception of value and worth are often associated with...
price
Buyers consider customer requests in order to
determine whether a profitable
market exists for new goods and services.
When selecting a vendor, a service that might influence a business owner's decision to select a certain vendor is
advertising
Social bookmarking web sites
allow subscribers to post, tag, and rank
links to articles, blogs, photos, and videos online.
One way to use the concept of digital colors is to prepare
accurate proofs
. Businesses
should check the final proof against the
previous version
What is a guideline for writing a news release
be objective in presenting facts
What is an important part of display maintenance?
replacing missing items immediately
What is an example of sales promotion that hotels use to attract customers?
weekend discount package
What might a travel agency include in a display to graphically show people enjoying a destination or participating in a tour of exotic places?
videos
Open-ended question
answer needs more than yes or no
Interpretive question
help you understand what the customer said
Impersonal question
unrelated to the customer's preferences
Cause and Effect
emphasize relationship between events
Perfect competition is used as a ...
benchmark to compare real market structures against
Evaluative information (feedback)
the conclusion people reach after they examine something carefully
many people pay for meals and lodging on credit through a ...
travel and entertainment card
Accounts payable
money a business owes
Equity
assets a business owns
Accounts receivable
money owed to business by others
Why does a company track payroll records?
to document wages paid
Negotiations
discuss potential issues and ways to resolve them
Forecasting
predicting trends and sales
Terrorism is an
employee safety issue
How can you decide which career is best for you?
Use multiple assessment tools
What is absolutely required on a resume?
Education
What is a characteristic of a travel and tourism industry?
Transports people to destinations away from home
Follow up
sales activities which occur after a sales presentation or a sale has been made to ensure
customer satisfaction
Why does a company communicate core values of its products?
to appeal to the target market
Product Extension
additional product, related to but different from, the main product
Color is used to ... in a print ad
highlight a specific element (logo)
Media reps
sell space to advertisers
Engravers
prepares artwork submitted by illustrator
Advertiser
has final responsibility to check an advertising proof
Hard news
news that should be released now
Soft news
news that can be released later bc public will still hold interest