Bmgt353- chapter 1 vocab

Bmgt353- chapter 1 vocab - Danielle Feller Chapter 1...

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Danielle Feller January 29, 2009 Chapter 1 Vocabulary Backward integration - a form of vertical integration in which a retailer owns some or all of its suppliers Breaking bulk - a function performed by retailers or wholesalers in which they receive large quantities of merchandise and sell them in smaller quantities Corporate social responsibility- voluntary actions taken by a company to address the ethical, social and environmental impacts of its business operations and the concerns of its stakeholders Ethics - a system or code of conduct based on universal moral duties and obligations that indicate how one should behave Forward integration - a form of vertical integration in which a manufacturer owns wholesalers or retailers Intertype competition - competition between retailers that sell similar merchandise using different formats, such as discount and department stores Intratype competition - competition between the same type of retailers Retailer- a business that sells products and services to consumers for their personal or family use
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