Venture Game #4

advertising

• the purchase of one company by another
• promotional tool consisting of paid, nonpersonal communication used by and identified sponsor to inform an audience about a product
• any economic resouce expected to benefit a firm or an individual who owns it (everything you or a company own)

product

• goal set for the very near future
• promotional tool consisting of paid, nonpersonal communication used by and identified sponsor to inform an audience about a product
• good, service, or idea that is marketed to fill consumers' needs and wants

services

• products having nonphysical features, such as information, expertise, or an activity that can be purchased
• markets in which stocks and bonds are sold
• corporation whose stock is widely held and available for sale to the general public

wholesaler

• employee who detects and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publicizing them
• legal principle holding owners responsible for paying off all debts of a business
• intermediary who sells products to other businesses for resale to final consumers

unemployment

• employee who detects and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publicizing them
• the level of joblessness among people actively seeking work in an economic system
• organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices
  

unethical behavior

• behavior that does not conform to generally accepted social norms concering beneficial and harmful actions
• planned economic system in which the government owns and operates only selected major sources of production
• activitites needed to move a product efficiently from manufacturer to consumer

target market

• manager responsible for a firm's overall performance and effectiveness
• group of people that have similar wants and needs and can be expected to show interest in the same products
• portion of ownership of a corporation

short-term goal

• goal set for an extended time, typically five years or more into the future
• goal set for the very near future
• having no goals in your life

SWOT Analysis

• form of nonstore retailing in which the telephone is used to sell directly to consumers
• manager responsible for a firm's overall performance and effectiveness
• identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as a part of strategy formulation

Organizing

• market or industry in which there is only one producer that can therefore set the prices of its products
• manager responsible for implementing the strategies and working toward the goals set by top managers
• management process of determining how best ot arrange and organization's resources and activities into a coherent structure