ramp up (production/sales)
to increase
Empowerment
giving employees the authority to correct a problem without first checking with managemen
price setting
fixing the prices at which goods and services will be sold
product development
developing the product concept into a physical product
cost cutting
reducing costs
production methods
how things are made
core competencies
Things a company does extremely well, which sometimes give it an advantage over its competition
quality control
the strategy for minimizing errors by managing each stage of production
drill down
to further divide the data into more detail
salary reviews
A meeting with an employee to assess their pay and decide whether to increase their salary
recruitment procedures
the process a company takes to get new employees
supply chains
Upstream partners supply the raw materials, components, parts, information, finances, and expertise needed to create a product or service.
pro-active
taking action yourself rather than waiting for something to happen
sales projections
the amount of revenue a company expects to earn at some point in the future
advertising campaign
a coordinated, comprehensive plan that carries out promotion objectives and results in a series of advertisements placed in media over a period of time
training budget
money reserved for training staff
To synergize
Work together to achieve more
distrabution channels
different methods a product or service is provided to the public
staff appraisals
Regular meetings with manager, being told how well they are doing
IT support
assistance with computer and software products
Consumer Relations
All the activities a business engages in to interact with its customers
a change of mindset
completely rethinking your attitude and approach to something
think outside the box
to think of new, different, or unusual ways of doing something, especially in business
paradigm shift
a fundamental change in approach or underlying assumptions.
market trends
Trends reflect changing opinions, habits, and ideas that can affect what types of products and services customers will buy.
balance sheets
A financial statement that reports assets, liabilities, and owner's equity on a specific date.
buy-in
agreement on a course of action
take (it to) the next level
Step up your efforts
do a reality check
when you've lost touch with the real world
the bottom line
the essential point in a discussion
the big picture
the situation as a whole
to benchmark
a familiar number used as a point of reference