47 terms

Terms	Definitions
Management Functions?	1.Planning 2.Organizing 3.Controlling
Functions of leadership?	1. Motivate 2. Innovate 3. Visionate
3 Skills of Management?	1. Conceptual skills 2. Human Relationship skills 3. Technical skills
Maslow's 5 Hierarchy of Needs?	Self-Actualization Esteem needs Social needs Safety Needs Physiological
Transformational Leadership Functions?	1. Idealized Influence: Strong Role Model. 2. Inspirational Motivation: High Expectation for us to the best. 3. Intellectual Stimulation: Ask subordinates for ideas to solve a problem. 4. Individualized Consideration: Provides a supportive climate and actively listens to the needs of his or her followers.
What is Trust?	Reliability when you have confidence in someone's agenda and competence and their intent.
4 Team forming steps?	1.Forming 2.Storming 3.Norming 4.Performing
Select the teambuilding stage that is conducive to the following commentary: The hard work of Jack's team leads directly to progress towards the shared vision of their goal, supported by the structures and processes that have been set up. Individual team members may join or leave the team without affecting the performing culture. Jack is able to delegate much of the work and can concentrate on developing team members. Being part of the team at this stage feels "easy" compared with earlier on.	Forming
Management maintains?	Resources People
Human Resources?	Organizational function that deals with people in a business
HR's 7 Organizational functions?	1. Planning staffing needs 2. Recruiting and hiring 3. Training and Motivation 4. Termination and repositioning 5. Compensation 6. Evaluations 7. Legal issues
Full Time Equivalent is used to?	To determine the number of employees do you need to sustain your business
How to calculate Full Time Equivalent(FTE)?	xhrs/day+xdays/wk+52wks/yr=1fte 1ft=0.5fte+0.5fte usually 2080. Total labor hous divided by 2080
Does FTE mean #of employees?	No
What is a guest?	A person who is a recipient of hospitalism at a dining area, home, event or business and has the ability to chose.
Costumer?	A person that receives or consumes goods and services and has the ability to chose between different products and services.
Hospitality?	Cordial and generous reception of or disposition towards guests
Client?	hybrid of customer and guest
Business Technology Management(BTM)?	A mgt science that seeks to unify business and technology decision making processes.
Parts of BTM?	1.Process 2.Information 3. Technology
Operations Management?	-Macro or Strategic Planning of Operations that focuses on administration planning and execution of operations involved in the production of goods and services. -It minimizes resources at the same time it increases output
Stategic Planning?	Strategic plan is Macro level
Smart Goals?	1. Specific 2. Measurable 3. Achieivable 4. Relevant 5. Timely
What is planning?	1. Determine where you need to be(Goal) 2. Steps u need to take to achieve your goals. 3. Smart goals
Tactical plan?	Tactical plan is Micro level
Production Management?	Tactical planning(micro) pertains to the input and output and turning out goods/services into the shape of the desired goods/services.
Is Distribution part of Operational Management?	Yes
What is a Core Product?	The base product with no brand no packaging or styling.
What is the Actual Product?	The tangible product complete with packaging, brand, and style.
Augmented Product?	The actual tangible product with extra services and benefits. You get a Five year guarantee.Two years free credit. Technical support.
Quality Control ISO?	International organization for standarization, it sets standards for all types of businesses. Tactics have to be ISO certified.
4 P's of Marketing?	1.Place 2.Product 3.Price 4. Promotion
Evolution of Marketing eras?	1. The production era: most entrepreneurs and companies focused solely on production. 2.
1st sales era concept?	" A good product will sell itself". Suppy was low demand shifted higher.
2nd sales concept era?	Demand shifted down after the first depression. "You need our products now more than ever".
3rd era of marketing?	-Marketing concept era 1950s till present. -Baby booming -Marketing concept: "find a need and fulfill it" -Marketing scheme
Societal Marketing?	1960's-Present: help society, Go green, fuel efficient, consulting.
Marketing?	-Costumer relationship era: after sale care
Product Life Cycle?
Place is?	Distribution
Promotional Mix?	Bill boards, website marketing, magazines,Tv Ads, Radio, Public, public relations or press release, personal selling
Types of Sales Promotions?	-Coupons -Rebates
Wholesale intermediary?	Buys your product at a discount for large volume.
Provides the main benefit or service to satisfy a need?	Core product
augmented product	the actual product plus other supporting features such as a warranty, credit, delivery, installation, and repair service after the sale
All the benefits associated with a good or service?	Total Product Offer
Marketing in industrial revolution era that is conducive to a product will sell itself?	Production era

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