Flashcards in Deck 12 Deck (25):
Free Enterprise System
A system that encourages individuals to start and operate their own businesses in a competitive market, without government involvement.
Local, state, and federal government agencies and services, such as public libraries and state universities.
Channel of distribution that obtains goods from manufacturers and resells them to industrial users, other wholesalers, and retailers.
Producing and promoting environmentally safe products.
Pricing products unreasonably high when there is a high demand resulting from a monopoly or a natural disaster.
Biases against the sender's opinions that prevent a listener from understanding.
Specialized vocabulary used by members of a particular group.
A decision on which all members of a team agree.
A hierarchal, up-and-down organizational structure in which the tasks and responsibilities of each lever are clearly defined.
Managers who implement the decisions of top management.
Encouragement of team member to contribute and take responsibility for the management process.
Using preventative discipline or corrective discipline
An iterview arranged by the human resources department when an employee leaves a company
Sales that provide solutions to customers' problems by finding products that meet their needs
A conscious, logical reason for a purchase
A selling technique that permits the salesperson to ackknowledge objections as valid yet still offset them with other featrues and benefits.
The cash drawer of a cash register.
A period of economic slowdown that lasts for two quarters, or six months.
An initial effort to close a sale.
A method of stock control that measures the quantities of merchandise that a business handles during a period of time.
Including price information for a standard unit or measure so that consumers can compare prices more easily.
Customer requests for items that are not carried in the store.
Reporting an illegal action by one's employer.
An item priced at or below cost to draw customers into a store.