Hypermarket a superstore which combines a supermarket

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catalog sales, mail order, and television marketing programs. Hypermarket a superstore which combines a supermarket and a department store . The result is a very large retail facility which carries an enormous range of products under one roof, including full lines of groceries and general merchandise . When they are planned, constructed, and executed correctly, a consumer can ideally satisfy all of their routine weekly shopping needs in one trip. Type of insurance policy that protects from loss of future profits in the event of a fire Property and Casualty covers fire – this type of policy to protect against “pure risks”
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INTRO TO BUSINESS A neutral party that renders a decision between two parties arbitrator Flexiplace = TELECOMMUTING FIFO First in First Out Father of scientific management Frederick Taylor Trade restrictions embargo Bonds: Municipals – Federal tax free from cities, Corporate – for businesses to raise capital, Zero coupon – no rate or return, but sold at a large discount to face value. Bond holders are creditors, now owners. Types of Insurance P&C, Fire, Burglary, Robberty / Theft, Fidelity Bonds, auto, business liability, marine, business interruption Job description a list of the general tasks, or functions, and responsibilities of a position. Job Summary May also be called the Job Objective or Purpose Statement; a short paragraph of no more than three to four sentences which concisely informs the reader of the nature, level, and objective of the position. Job Analysis various methods for analyzing the requirements of a job: purpose, methods, results, systems Job specification Job Specifications, or Job Specs., are details and descriptions about a job that serve as a thumbnail view of the job. performance appraisal periodic evaluation of employees’ work-related behavior. board of directors group of people elected by the owners of a business entity who have decision-making authority, voting authority, and specific responsibilities types of stock – Common, preferred, dividends Laissez Faire employee chooses best way to do the work or allowing events to take their own course Autocratic – boss type management Capitalism - Private Enterprise system in which business must match and improve on offerings to competitors in order to succeed. Key characteristic is competition. Socialism – government owns key infrastructure such as utilities, energy, health care & transportation. Private ownership permitted in less important sectors. Israel is example
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INTRO TO BUSINESS Communism all property owned by the people in common and strong central government directs production – little choice, no economic classes – today only Cuba & China Mixed – Have both public and private ownership. Great Britain, Netherlands, and Chile are examples Quality Assurance planned and systematic production processes that provide confidence in a product's suitability for its intended purpose Total Quality Management (TQM) strategy aimed at awareness of quality in organizational processes Risk – Speculative (earning a profit) or pure
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