Definitions Flashcards
HUman resource strategy
An HR strategy consists of the methods employed by an organisation to make the most effective use of its workforce to achieve its HR objectives
Marketing strategy
A marketing strategy is the marketing decisions and tactics used by an organisation to achieve its marketing objectives
Payable days
Payable days measures the length of time the business takes to pay its creditors
Receivables days
Receivable days is the length of time the business has to wait before receiving payments from its debtors
Employer/employee relations
Refers to the relationship between the managers of a business and the workforce and or their representatives
Market analysis
Occurs when a business undertakes a detailed examination of a market
Lean production
A production system that is based upon a range of waste saving measures
