Chapter 8 Vocabulary
Person-organization fit: reflects the extent to which your personality and values
match the climate and culture in an organization.
Organizational culture/ corporate culture: is defined as the set of shared, taken-forgranted implicit
Strategic planning: attempts to achieve sustainable competitive advantage y
preserving what is distinctive about a company.
Current reality assessment/ organizational assessment: to look at where the
organization stands and see what is working a
Paul and Anna Jones are wealthy entrepreneurs who are very interested in helping
children who have been abused. Their goal is to donate a percentage of their
company profits to helping these children. The Joness actions are an example of
Quiz # 5
? Don, a middle manager for a large restaurant chain, received an e-mail from the CEO
outlining the new goal of decreasing company costs over the next three years. This is an
example of a strategic goal.
! A standing plan that outlines
Decision: is a choice made from among available alternatives.
Decision making: is the process of identifying and choosing alternative course of
Rational model of decision making/classical model: explains how managers should
make decisions; it assu
Anthony, the plant manager, was talking with another manager about Tim, the
lead engineer in the corporate R & D department. Anthony remarked that Tim is
so bright, and is an expert in designing products. But like so many experts, he
cant imagine what its
Tom, a production manager, believes that some of his workers are unhappy with their job, so
they are not working as hard as they could be. This reduction in effort is also known as _.
2- When more efficien
Quiz # 1
Greg, a supervisor, is known by his managers to be sharp in his decisions and has a good
track record of meeting his goals. Greg is a(n) _ manager.
New York Times columnist Thomas Friedman noted tha
Gathering information about your competitors activities so that you can anticipate
their moves and react appropriately is known as _.
Developing a comprehensive program for long-
Quiz # 4
Daves Furniture in South Carolina produces high-quality furniture and ships its products to
customers in over 40 countries. This is an example of _.
Steve, a recent college graduate in comput
Principles of Management
Wells Fargo Offers Regrets, but Doesnt Admit Misconduct
In the past couple of months Wells Fargo has created problems for many of its customers
and especially for the company. The company created a
Type of Savings Plan
Schwab Bank High
Marketing Principles Section 003
4 Ps Chart
Marketing strategists agree that the customers needs and values are at the center of success
for companies and nonprofits. Measuring exact values that accurately depict product benefits is
difficult to assess and understanding consumers and how they make
Websites are constantly redesigning and updating their sites to improve their aesthetic and
their services to keep customers happy. Amazon and EBay are two I use frequently and I have
used EBay since I was a child to find collectibles and participate in a
Explain the role of product or brand managers. When would it make sense for one of a
companys current brand managers to be in charge of the new product development process?
Explain your thinking.
Brand managers determine how a brand is perceived and plan
Chick-fil-A has a unique approach to marketing they focus on simplicity and quality
along with cleanliness and service with a total restaurant experience. Along with a high level of
commitment to religious values, a simple product rooted in simple values
Retailers: Big vs. Small
Chain retailers have bargaining power due to their purchase volume, receive new items
faster, have orders promptly filled, get sales support, and volume discounts. They may also gain
exclusive rights to certain items and have cost
What characteristics of a new product will help it to move through the early
stages of the product life cycle more quickly? Briefly discuss each
characteristicillustrating with a product of your choice. Indicate how each
characteristic might be viewed in
(Chapter 8 Starts) .
market people or organizations with needs or wants and the ability and willingness to buy
market segment a subgroup of people or organizations sharing one or more characteristics that
cause them to have similar product needs