BUSS2 key terms page two

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induction training
training aimed at introducing new employees to a business and its procedures
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interview
part of the recruitment process wherre a candidate is met face-to-face
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job description
A summary of the main duties and rewsponsibilies of a job
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job design
the way in which tasks are combined to form a job
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job enlargement
giving employees mnore tasks of a similar level of complexity. job enlargement expands the number of tasks completed by an employee
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job enrichment
making a job more interesting or varied so that it is more rewarding
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labouyr productivity
the output produced per employee over a given time period
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loss leader
whhere a price is set deliberatly below the cost of prudction in order to attract customers who will buy other more profitable products
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market research
the process of plannign, collecting, and analysing data relevant to help make marketing decisions
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marketing mix
the set of makreting tools that the firm uses to pursue its marketing objectives
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mass market
Describes the largest group of customers with specific needs and wants in an industry
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merchandise
promtion of a product at the point-of-sale, usaully in a retail enviroment
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net profit
profit that remains after all operating costs are taken away form sales revenue
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net profit margin
a measure of profitability
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niche market
focused segment of a larger market sector
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off-the-job
training that takes place away from the workplace
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on-the-job
training that takes place at the workplace
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organisational structure
the way that the roles and responsibilites within an organistation are structured
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output
the finished products that result from from the production
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overtime
staff who work for less than a standard working week or day
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payment terms
the period of time that a supplier allows for an invoice to be settled
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penetration pricing
pricing strategy that involves the setting of lower, rather than higher prices in order to achive a large market share
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permanent employee
an employee who has a permanent position
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person specification
a description which identifies the skills and experience that are likely to be held by a successful applicant for a job vacancy
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price elastcity of demand
the responsivness of demand to a change in the price of a product
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price leader
a market leader business whose price changes arte followed by rivals
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Other cards in this set

Card 2

Front

interview

Back

part of the recruitment process wherre a candidate is met face-to-face

Card 3

Front

job description

Back

Preview of the front of card 3

Card 4

Front

job design

Back

Preview of the front of card 4

Card 5

Front

job enlargement

Back

Preview of the front of card 5
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