Business & Management Concepts

process of creating growing, manufacturing or improving products or services

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

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

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

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

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

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

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

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

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