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The five P’s are product, promotion, price, people and possession.

Human resource management is the process of hiring, developing, motivating, and evaluating people in order to achieve organizational goals.

Job enlargement means the redesign of a job to increase its responsibility and challenge.

Recruitment is the attempt to find and attract qualified applicants in the external labor market.

A grievance is a formal complaint by an employee that his or her supervisor has violated some part of the union-management contract.

Unemployment compensation pays employees for lost work time caused by work-related injuries.

A manager’s ability to operate in diverse cultural environments depends primarily on his or her human relations skills.

A manager in a centralized organization tends to allow subordinates to assume authority and to make most of the decisions.

The exchange rate is the interest rate that foreign banks receive when borrowing money from the United States.

The short-range, detailed planning that focuses on current operations is called functional planning.