Shared Flashcard Set

Details

Retail Marketing Exam 3
Chapter 16
17
Marketing
Undergraduate 3
12/09/2012

Additional Marketing Flashcards

 


 

Cards

Term
Steps in Employment management process
Definition
1. Recruit and select employees
2. Socialize and train new employees
3. Motivate and manage employees to achieve store performance goals
4. Evaluate employee performance and provide feedback
5.Compensate and reward employees
Term
Ways to Train Employees
Definition
1. Structured Program
2. On-the-job learning experience
3. E-training
4. Blending Approach
5. Analyzing Successes and Failures
Term
Autocratic Leader
Definition
1 person will make the decision
Term
Democratic Leader
Definition
As a group, 1 person will help lead a team to make a decision
Term
Transformational Leaders
Definition
Get people to transcend their personal needs for the sake of the group and generate excitement
Term
Extrinsic Rewards
Definition
rewards provided by either the employees manager or the firm such as compensation, promotion and recognition
(A la carte plans)
Term
A la carte plans
Definition
give effective employees a choice of rewards for their good performance
Term
Intrinsic Rewards
Definition
are rewards employees get personally from doing their job well such as challenging work, helping others, meeting people, prestige and having fun.
Not about money
(Job enrichment)
Term
Job Enrichment
Definition
the redesign of a job to include a greater range of tasks and responsibilities the employee finds fulfilling
Term
compensation programs
Definition
is effective for motivating and retaining employees when the employees feel the plan is fair and that their compensation is related to their efforts
Term
Types of compensation programs
Definition
Straight salary compensation
incentive compensation
-Straight commision
-Quota bonus plan
group incentives
Term
Straight Salary
Definition
-Offers flexibility in assigning employees to activities
-builds stronger employee commitment
-is easy for employees to understand
-is easy to administer
-Allows for better performance of non-selling activities such as customer service
Term
Incentive compensation
Definition
Has high motivating potential
Has more variable cost
Relates compensation to productivity
Term
Evaluation Errors
Definition
Halo effect
Recency
leniency
Term
Format for evaluations
Definition
objective measures (sales, margin, shrinkage)
Subjective measures (supervisor review)
Term
Controlling Costs
Definition
1. Labor Scheduling
2. Maintenance
3. Energy (Lights, Utility)
4. Inventory shrinkage
Term
shrinkage
Definition
(accounting record - actual inventory) / sales
Supporting users have an ad free experience!