| A | B |
|---|
| management | is the process of reaching goals through the use of human resources, technology, and material resources |
| vertical organization | • Managers Look up to higher levels of management or down to employees within a single department in large, traditional companies. |
| horizontal organization | involves self managing teams that set their own goals and make their own decisions. |
| self-managing teams | • Encouraging team members to contribute to and take responsibility for the management process |
| planning | • The first step in the management process is planning. |
| organizing | involves assigning responsibility, establishing working relationships, staffing, and directing the work of employees. |
| controlling | process of comparing what you planned with actual performance • Before |
| stock handling | • Merchandise ordered by a store is received, checked, and marked with a selling price before it is transferred to the sales area. |
| SWOT Analysis | an accessment that looks at a company's strengths, weaknesses, opportunities and threats |
| management tasks | responsibilites of a manager |
| environmental scan | the process of accessing the outside influences that affect a company |
| marketing plan | a strategic plan to promote a product |
| marketing segmentation | the process of separating a population |
| geographics | a way of separating a population based on where people live |
| demographics | a way of separating a population based on gender, age, income, education, etc. |
| psychographics | a way of separating one population based on opinions, attitudes, lifestyles |
| mass marketing | using one single marketing plan to reach a large audience |
| discretionary income | the money left over after your pay for all your necessities |
| disposable income | the money left over after taxes |
