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Assigning unpleasant job tasks (to employees)
Reprimanding in front of others
Days off without pay
Lieu time off
Raises, Bonuses
Acknowledgment
Independence
Devolpment Opportunities
Motivating teammates to do their best etc.
Implementing ideas
Providing directions
Members like their job and know what to do
True team work
All members know what must be done
Group needs to be told what to do
Members don’t value each other
Members don’t like each other
No one seems to be in charge
Advice is offered only if asked
Gives little to no direction nor motivation to team members
More time
Members are more intrested
Members know how to do their job
Group is not intrested (being lazy)
Members don’t know how to do their job or are clueless
Members don’t like each other
Support teamwork
Leader has final say
Ask before tells
All members are involved
Little time
Know how to do their job
Members don’t know each other
Trying to team build
Members know how to do their job
Members want variety
“It’s my way or the highway”
Not open to new ideas
Telling others what to do
THE 3 MANDATORY DEDUCTIONS
EI (Employment insurance)
Pay into it from every pay cheque even if you aren’t 18+. If you ever get laid, haven’t been fire, and have worked over 420 hours you can collect an EI cheque for a while.
CPP (Canada pension plan)
Anyone who works & is over 18 years of age must contribute to CPP. Employees, employers, bosses etc. all contribute to CPP.
Income tax
Anyone who earns (any) income has to pay a mandatory federal and provincial income tax
GP (gross pay) - Deductions = NET PAY (your take Home pay)
COMPOUND INTEREST FORMULA
PV (present value) x R (interest rate %) x T (time) = I (interest)
72/I (interest rate) = # of years to double money
Warranties & guarantees
Guarantees = a formal promise or assurance that goods/services are of a specific quality
Warranty = provides after sales service on a product for a specified period of time.
Service
Something that you pay someone else to do for you because you don’t have the particular skills or knowledge to do so. i.e Real Estate Agent, mechanics, stock broker etc.
Comparison shopping & product info
How do you compare big items? Make a list detailing important ‘must haves’ for YOU. Compare your different choices (pros vs cons) to decide on what’s best for YOU.
Quality
Should you pay more & get high quality or should you pay less and mediocre quality?
Buyer behaviour
Individuals have different needs and wants that influence their buying decision.
Costs (expenses)
How much disposable income (take home pay) is left to pay your monthly bills such as : Food, clothing, taxes, utilities etc.
Having money available
Need to get pre-approved from bank : used to determine how much of a loan you can quality or be trusted with. Banks will look into your financial position : Salary, credit rating, assets, cash, work history etc.
Get paid for every item you make. The more you produce/make the more profit (money) you generate
FORUMLA
PW (piecework) rate x # of items
Get paid a % amount depending on your sales or how much you sell
Salary + commission
% (percentage) x amount sold + (yearly/annual) salary
Straight commission
% (percentage) rate x amount sold
Get paid a set amount per hour. If any overtime (O/T) you will get paid an extra (1.5) double
FORMULA
Hourly rate x # of hours worked
Based on a annual (yearly) amount, you can get paid in multiple ways : paid on a regular schedule, paid weekly, bi-weekly (every 2 weeks) or monthly.
FORMULA’S (for how you can get paid)
Monthly (every month)
Salary/12 (months in a year) = $ amount paid/month (per month)
Bi-weekly (every 2 weeks)
Salary/26 = $ amount paid/week (per week)
Weekly (every 7 days or 1 week)
Salary/52 = $ amount paid/week (per week)
FORMULA (just salary)
Annual salary/ # of pay periods
Net income : profit
Net loss : expenses are greater than your revenue
$ (money) spent on things
$ (money) earned from performing a service or selling goods
R - E = NI/NPL revenue - expenses = net income/net profit loss
A = L + OE assets = liabilities + owners equity
“What’s leftover”
Things you owe to a business or person i.e bank loan
Things that you own with a $ value i.e cash
A word, or a group of words to distinguish a business product from its competitors e.g McDonald’s
A business combines their name with a special symbol e.g Apple logo 🍎
Short catch phrase/Jingle used for consumers to memorize companies better e.g “Finger lickin’ good” (kfc)
COOL COLOURS
These colours are what makes your image more toned down from all the bold colours and letters but instead allow you to process what’s happening in the image more clearly
Blue, green, purple, white
WARM COLOURS
These colours can make and draw a lot of attention to your image to stand out more boldly and legible for consumers to read and as well be more attracted to look at
Red, pink, yellow, black
Target market can be segmented in two ways
Lifestyle
Not easily defined examples include : - Social Class - Opinion - Activities - Attitudes and beliefs
Demographics
Relating to the structure of population
Consumers and the Target Market : The specific segment of population that buys your product is your target market.
Indirect competition
The options are not directly related to each other
Direct competition
Very similar products addressing the same need. I.e Coke vs Pepsi
Gathering data or information to developing your product or creating a business plan etc.
Creating your product or the contribution to the creation of your product
Promotion
Place
Product
Marketing mix (4 p’s)
What incentives to buy the new product
What and when will it be delivered
What the message will be (form/content)
How potential consumers will find out about a new product
Promoting a product for your company/business to create revenue and profit and sales
Disregarding a product
Revenue of your amount of sold products
