BUSMGMT - 4 Business Management and Concepts

Process of creating growing, manufacturing or improving products or services

• Production
• Marketplace
• Small Businesses
• Big Businesses

Where products are sold; exists wherever a product is sold to the customer

• Production
• Marketplace
• Small Businesses
• Big Businesses

Usually have less than 100 employees; run by a few managers; “mom and pop” businesses

• Production
• Marketplace
• Small Businesses
• Big Businesses

Usually have more than 100 employees; usually are national or global; can be divided into many different departments

• Production
• Marketplace
• Small Businesses
• Big Businesses

Not motivated to earn a profit; most local, state, federal agencies and services are considered businesses in the public sector

• Public Business
• E-Commerce
• Small Businesses
• Big Businesses

Any business activity using electronic communication when goods and services are exchanged

• Public Business
• E-Commerce
• Small Businesses
• Big Businesses

Occurs when companies put forth an effort to produce and promote environmentally friendly products

• Public Business
• E-Commerce
• Green Marketing
• Product Recalls

When a company takes a product off the shelves and requests any purchased product be sent back to the company for the good of the consumer due to an issue with the product

• Public Business
• E-Commerce
• Green Marketing
• Product Recalls

Organizational system found in traditional businesses; managers look up to supervisors or executives look down to employees

• Vertical Organization
• Horizontal Organization
• Green Marketing
• Product Recalls

Organizational system which involves self-management teams who set their own goals and make their own decisions; management levels are eliminated and supervisors are reduced; “flattening” of an organization

• Vertical Organization
• Horizontal Organization
• Green Marketing
• Product Recalls