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Purchasing, Processing, Quality Control, Grading
Basic Rights of Employees
The minimum age for employment
Hours of Work
Minimum Wage
Overtime, Holiday and Vacation Pay
Paid Public Holidays
Parental Leave
Individual and Group termination of employment
Recovery of unpaid wages
Product Life Cycle
Introduction: The product is introduced and ready to be bought.
Growth: News about the product spreads. Competitors enter the market which increases the growth.
Maturity: Sales are at their highest peak. The competition is only a few strong companies.
Decline: Customers lose interest in the product, and sales decline.
Decision Point: Companies decide if they are going to invest money in the product, or abandon it. They can try promotions, re-positioning, repricing.
Functions of Management
Planning: setting goals and deciding how to achieve them
Organizing: arranging people and the tasks that need to be carried out
Leading: achieve goals by motivating, communicating, and encouraging participation
Controlling: managing the amount of money/ budget, employee discipline, and performance appraisal
Major Functions of HR
Compensation
Training
Employee Relations
Health and Safety
Recruitment/ Firing/ Discipline
Leadership Styles
Autocratic: Takes control of the whole situation.
Advantages: Decisions can be made quickly
Disadvantages: Leads to discontent, only one opinion
Democratic:
Advantages: Encourages staff, increase morale
Disadvantages: Longer to make decisions
Laissez-Faire:
Advantages: Don’t always have to hover
Disadvantages: Can become unmotivated and directionless
Types of research (product)
Consumer: what do consumers want
Market groups: who would buy products- demographics and psychographics
Motivation: motives that influence buying
Pricing: Supply and demand
Competitive: what is competition doing
Product: product features
Advertising: how to best promote a product
Standard Roles or Steps of Advertising(AIDA) /4 marks
1.Attract attention 2.Gain interest 3.Build desire 4.Get action (AIDA)
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