Examlex
Scientific management is the process of systematically dividing work into its smallest possible elements and standardising work activities to achieve maximum efficiency.
Forward Integration
A business strategy where a company extends its operations by moving towards the direct control of its distribution or supply chain further down the production process.
Retailer
A business or person that sells goods to the consumer, as opposed to a wholesaler or supplier.
Retailer-sponsored Cooperative
A group of independent retailers who collectively purchase goods, share marketing efforts, and distribution channels to compete with larger chains effectively.
Service-sponsored Retail System
A retail network established by a service provider to sell or distribute its services directly to consumers.
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