Thẻ ghi nhớ: FTU - TACN 1 | Quizlet

management

the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources

manager

An individual who is in charge of a certain group off tasks, or a certain area or department of a business

chief executive officer (ceo)

the most senior manager responsible for the overall performance and success of a company

planning

A management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.

organizing

a management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization's goals and objectives

leading

creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives

controlling

a management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not

motivation

factors that influence the behavior of workers towards achieving business goals. it can be increased by:

a. monetary rewards

b. non-monetary rewards

c. introducing ways to give job satisfaction

job satisfaction

the enjoyment a worker gets from feeling that they have done a good job. it can be increased: job rotation, job enlargement and job enrichment

job rotation

swapping workers round and only doing a specific task for a limited time before swapping round again

job enlargement

extra tasks are added to the job to make it more interesting

job enrichment

adding tasks that require more skill and/or responsibility

theory X

The average person does not like work. Workers must be constantly supervised so they will work. Motivation is from external factors, e.g. pay schemes where the workers are paid more for increased output.

theory Y

The average person is motivated by internal factors. To motivate workers, you need to find ways to help workers take an interest in their work, e.g. give rewards, incentives.

Maslow's Hierarchy of Needs

A theory of motivation which states that five categories of human needs dictate an individual's behavior. Those needs are physiological needs, safety needs, love and belonging needs, esteem needs, and self-actualization needs.

Frederick Herzberg's motivation theory

Humans have two sets of needs: one is for the basic needs, which he called hygiene factors or needs, and the second is for a human being to be able to grow psychologically, which he called motivational needs or motivators

hygiene factors

The factors that must be present in the workplace to prevent job dissatisfaction

Glocalization

a product or service that is developed and distributed globally but is also adjusted to accommodate the user or consumer in a local market.

culture

the complex system of values, traits, morals and customs shared by a society

context

the stimuli, environment, or ambience surrounding an event

the Lewis Model

developed by linguist and leading cross-cultural specialist Richard D. Lewis. The model divides humans into 3 clear categories, based not on nationality or religion but on BEHAVIOUR, namely, Linear-active, Multi-active and Reactive

high-context culture

a culture by which the rules of communication are primarily and dominantly transmitted through the use of contextual elements. These include specific forms of body language, the social or familial status of an individual, and the tone of voice employed during speech. High-context cultures usually do not have rules that are explicitly written or stated.

low-context culture

a culture whereby most communications take place through verbal language and rules are directly written out or stated for all to view

power distance

the distribution of power among individuals within a culture and how well unequal levels of power are accepted by those with less power

the primary sector

Production involving the extraction of raw materials from the earth

the secondary sector

Manufactures goods using the raw materials provided by the primary sector

the tertiary sector

Provides services to consumers and the other sectors of industry

a mixed economy

has both a private sector and a public (state) sector

public sector

the sector of the economy in which organisations are owned and controlled by the state (government)

private sector

The sector of the economy in which organisations are owned and controlled by individuals.

privatisation

The sale of public sector organisations to the private sector

sole trader

business owned and operated by one person

limited liability

the liability of shareholders in a company is limited to only the amount they invested

unlimited liability

The owners of a business can be held responsible for the debts of the business they own. Their liability is not limited to the investment they made in the business.

Partnership

a form of business in which two or more people agree to jointly own a business

shareholders

The owners of a limited company. They buy shares which represent part ownership of a company.

private limited companies

businesses owned by shareholders but they cannot sell shares to the public

Public limited companies

businesses owned by shareholders but they can sell shares to the public and their shares are tradeable on the Stock Exchange

production

the process of converting inputs such as land, labour and capital into saleable goods, for example shoes and cell phones

inventories

The stock of raw materials, work-in-progress and finished goods held by a business.

lean production

the production of goods and services with the minimum waste of resources

job production

The production of items one at a time

Batch production

The production of goods in batches. Each batch passes through one stage of production before moving onto the next stage.

flow production

the production of very large quantities of identical goods using a continuously moving process

Just-in-time (JIT)

A production method that involves reducing or virtually eliminating the need to hold inventories of raw materials or unsold inventories of the finished product.

logistics

the business activity that involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit.

inbound logistics

The area of logistics that involves bringing raw materials, packaging, other goods and services, and information from suppliers to producers.

materials handling

The movement of goods within a warehouse, from warehouses to the factory floor, and from the factory floor to various workstations.

outbound logistics

The area of logistics that involves managing the flow of finished products and information to business buyers and ultimate consumers (people like you and me).

reverse logistics

The area of logistics that involves bringing goods back to the manufacturer because of defects or for recycling materials.

quality

to produce a good or a service which meets customer expectations

quality control

The checking for quality at the end of the production process, whether it is the production of a product or service.

quality assurance

The checking for the quality standards throughout the production process, whether it is the production of a product or service.

Total Quality Management (TQM)

the continuous improvement of products and processes by focusing on quality at each stage of production

market

the set of all actual and potential buyers of a product or service; the people who trade in a particular good; to make goods available to buyers and encourage them to buy them

market leader

the company with the largest market share

market nicher

a small company that concentrates on one or more particular niches or small market segments

market research (GB)/ market research (US)

the collection, analysis and reporting of data relevant to a specific marketing situation (e.g. a proposed new product)

market segment

part of a market; a group of customers with specific needs, defined in terms of geography, age, sex, income, occupation, life-style, etc.

market share

the sales of a company (or brand or product) expressed as a percentage of total sales in marketing - the process of identifying and satisfying consumers' needs and desires

marketing channel

the set of intermediaries a company uses to get its goods to their end users

marketing mix

the set of all the various elements in a marketing programme, and the way a company integrates them

marketing strategy

a plan or principle designed to achieve marketing objectives

product life cycle

the standard pattern of sales of a product over the period that it is marketed

Advertorial

A paid-for advertisement which includes editorial content; normally identified in a print magazine with the word "Advertisement" printed as a head across the top of the page to distinguish it from genuine (in theory unbiased) editorial content

advertising agency

the organization that takes care of advertising for clients

advertising campaign

A time-limited set of ads - campaigns may run across different media, and for one month or ten years, but can be categorized together as they are the execution of a central idea

Demographics

describing an audience by age, gender, ethnicity, or location - i.e the facts about them

focus groups

Small, select groups representing a target audience who are paid to answer questions at the behest of a market research organization

product placement

The practice of paying for a branded product to be used by a character in a movie - e.g James Bond driving a BMW Z3

product positioning

establishing the market niche of a product - which may not be as the brand leader - and advertising to the appropriate segment of the audience

USP

United States Pharmacopeia/Point - a highlighted benefit of a product which makes it stand out from all rival brands

cost accounting

calculating all the expenses involved in producing something, including materials, labour, and all other expenses

tax accounting

calculating how much an individual or a company will have to pay to the local and national governments (and trying to reduce this to a minimum)

auditing

inspecting and reporting on accounts and financial records

accounting

preparing financial statements showing income and expenditure, assets and liabilities

managerial (or management) accounting

providing information that will allow a business to make decisions, plan future operations and develop business strategies

creative accounting

using all available accounting procedures and tricks to disguise the true financial position of a company

bookkeeping

writing down the details of transactions (debits and credits)

cash flow statement

a statement giving details of money coming into and leaving the business, divided into day-to-day operations, investing and financing

income statement (or statement of income, profit and loss statement, or profit and loss account)

a statement showing the difference between the revenues and expenses of a period

balance sheet (or statement of financial position)

a statement showing the value of a business's assets, its liabilities, and its capital or shareholders' equity (money the business has that belongs to its owners)

business cycle model

a model showing the increases and decreases in a nation's real GDP over time; this model typically demonstrates an increase in real GDP over the long run, combined with short-run fluctuations in output.

expansion

the phase of the business cycle during which output is increasing

recession

the phase of the business cycle during which output is falling

Depression

a deep and prolonged recession

peak

the turning point in the business cycle between an expansion and a contraction; during a peak in the business cycle, output has stopped increasing and begins to decrease.

trough

the turning point in the business cycle between a recession and an expansion; during this, output that had been falling during the recession stage of the business cycle bottoms out and begins to increase again

recovery

when GDP begins to increase following a contraction and a trough in the business cycle; an economy is considered in recovery until real GDP returns to its long-run potential level.

potential output

the level of output an economy can achieve when it is producing at full employment; when an economy is producing at its potential output, it experiences only its natural rate of unemployment, no more and no less.

growth trend

the straight line in the business cycle model, which is usually upward sloping and shows the long-run pattern of change in real GDP over time

positive output gap

the difference between actual output and potential output when an economy is producing more than full employment output; when there is a positive output gap, the rate of unemployment is less than the natural rate of unemployment and an economy is operating outside of its PPC.

negative output gap

the difference between actual output and potential output when an economy is producing less than full employment output; when there is a negative output gap, the rate of unemployment is greater than the natural rate of unemployment and an economy is operating inside its PPC.

ethical standard

a rule for moral behaviour in a particular area

ethical behaviour

doing things that are morally right

ethical lapse

temporary failure to act in the correct way

ethical dilemma

a choice between two actions that might both be morally wrong

ethical stance

a stated opinion about the right thing to do in a particular situation

ethical issue

an area where moral behaviour is important

business ethics

Standards of business behaviour that promote human welfare and "the good"