Business 3 Flashcards

Terms Definitions
to apply
mentor 4.5
to use money
deficit spending 6.2
la recherche spatiale
space research
producing the most utility
wealth, riches, or affluence
This form of departmentalization offers a variety of goods and services targeted at different types of customers.
represents the behavior of buyers.
Written contract granting permission to sell someone else's product or service over a certain period of time
a single professional engagement, usually of short duration, as of jazz or rock musicians.
individuals are held liable or accountable for how well they use their authority & lived up to their responsibility.
changes raw materials into more finished products
combining of 2 or more firms
Advantages of Databases
Increased flexibility; Increased scalability and performance; Reduced information redundancy; Increased information integrity (quality); Increased information security
FOB Destination
Freight terms indicating that ownership of the goods passes to the buyer when the public career accepts the goods from the seller
Independent Variables
what impacts behavior (person variables-internal situation variables-external)
False or misleading labeling or packaging of food, drugs, or cosmetics
The extent to which policies, procedures, job descriptions, and rules are written and explicitly articulated.
Is International Business Growing or Shrinking?
something implied or suggested as naturally to be inferred or understood:
characterized by assumption of dignity or importance.
channel member that sells goods & services to individuals for their own use rather than for resale.
number of digital signals that can travel per second

•Conglomerate Merger
-- Unites firms in completely unrelated industries in order to diversify business operations and investments.
team level
average level of ability, experience, personality or any other factor on a team
Conversion Rates
Number of customers an organization touches for the first time.
One-Level Channel
one marketing intermediary is between the producer and the customer

Occurs when producers use factors other than low price to try to convince customers to buy their products.
Nonprice competition
There are two kinds of executive search firms. ____ firms charge a fee regardless of the success of the search.
inflation- value of money can change, increase in general leval of prices, buying power of dollar decreases. deflation- decrease in general leval of prices, occurs during recession/depression
market segmentation
dividing the market into distinct groupw of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing programs
based on a corporations profits
Corporate income tax
Management accounting
provides internal decision makers, who are charged with the goals of profitibility and liquidity, with information about operating, investing, and financing activities
Electronic Funds Transfer (EFT)System
A computerized banking system
April 15
date taxes are due each year
a form of integrative bargaining whereby labor and management jointly frame and solve issues in order to reach solutions that provide gains to both sides.
A charge by employees that management is not abiding by the terms of the negotiated labor—management agreement.
a small ornament, piece of jewelry, etc., usually of little value.
to trade by exchange of commodities rather than by the use of money.
of the highest kind, surpassing all else or others; supreme; extreme
Return on equity ratio
Equals net profit/owner's equity; Normally, the higher the ratio, the more favorable it is for the company.
the money left over after a business has paid the cost of providing its goods and services
What type of organization is the oldest/simplest in structure and establishes a direct flow of authority from the chief executive to subordinates?
Line organization
team cohesiveness
extent to which team members feel attracted to the team and motivated to remain part of it
Hub-and-spoke systems
Systems that combine the idea of consolidation and that of cross-docking.
International Business
the buying, selling, and traveling of goods and services across national boundaries
How are SDI designated in the individual's personnel records?
Awarded Specialties
Credit report
record of a individuals past borrowing and repayments
"There is no single set of ethical rules that control communication." Instead we have "to specify what purpose communication serves."
a written legal doctument defining ownership and operating procedures and conditions for a corporation is called the
articles of incorporation
is usually composed of the project manager, the senior=management member who is the project sponsor, and the lead employee from each involved area (lead systems analyst, lead database administrator).are HR functional experts, whose role is
Steering committee=
percentage of the civilain labor force that is unemployed
unemployment rate
Partnership; disadvantages
the unlimited liability of its owners. Unlimited liability can be avoided by organizing the business as a corporation, or in some states , by forming what is known as a limited liability partnership ( LLP)
The body of law created by administrative agencies, in the form of rules, regulations, orders and decisions, in order to carry out their duties and responsibilities
Administrative Law
flat structures
An organization with few layers, often with large numbers of employees reporting to a single manager.
A group of two or more dissimilar workstations located close to each other that process a limited number of parts or models with similar process.
product screening
A process designed to reduce the number of new-product ideas being worked on at any one time.
a person or group of persons having administrative or supervisory authority in an organization.
A private or civil wrong other than breach of contract.
a word opposite in meaning to another. Fast is an antonym of slow.
The number of years for which a loan is extended.
Group Model of HMO
HMO contracts with a single multispecialty group practice and separately with one or more hospitals to provide comprehensive services to its members. The physicians in the group practice are employed by the group practice, not the HMO. The HMO generally pays an all-inclusive capitation fee to the group practice to provide physician services to its members. The group practice may be an independent practice, in which case the physicians may also generally treat nonHMO patients. Under a different scenario, the HMO may own the group practice may provide services exclusively to the HMO’s members. An exclusive contract with a group practice enables the HMO to exercise better control over utilization.
Chief Information Officer
responsible for overseeing all uses of IT, and ensuring the strategic alignment of IT with business goals.
Capital investment analysis
The process by which decisions are made regarding investments in long-lived assets
amount of money used to buy or do something
Cost Avoided
the cost avoided by not having to perform
What play a vital role in the economy?
Small Businesses
What are exports?
Goods and services sold to other countries.
Sets product standards for hazardous products (CPSC)
Consumer Product Safety Commission
Trial courts of limited and general jurisdiction, courts of appeal and highest level of court sometimes known as supreme court
State Court System
when you are red flagged by the IRS and they thoroughly check the filing of your taxes
Labour productivity = output per period / number of employees per period
What is labour turnover?
cross-price elasticity
measurement of how the quantity of one good changes relative to price changes in a different good (% delta quantity(x)/% delta price(y)); gives an indication of the relationship between two different markets
to prick or drive with, to prod or incite
What is strategic planning?
The process of determining the primary objectives of an organization and then acting and allocating resources to achieve those objectives.
Internet Business Models
Online Marketplace
provides a trading platform for other buyers & sellers
ex. -,
Operating Cycle
The average time that it takes to go from cash to cash in producing revenues
Two roles of economists
*Scientists (try to explain the world) *Policy advisers (try to improve it)
A "To SkilledGroup" assignment are routed to an operator in a workgroup by looking at:
Avilability, Required Skills then Desired Skills
manner and time of acceptance (i.e., mailbox rule, telephone and electronic communication)
Specified in the offer
list of patients who can come in for an appointment on short notice
call list
what are functional objectives?
they are more specific and detailed and are specific to each department.
speculative risk
a risk in which there is a chance of either loss or gain
fraud in the inducement
a false representation of a fact that is material and made with knowledge of its falsity and the intention to deceive and which representation is justifiably relied upon.
Determinants of Market Power
1.Number of firms in the market. 2. Size of each firm in the market. 3.Barriers of entry 4. Availability of substitute goods or product differentiation
If you were operating a warehouse and you wanted your personnel to receive material quickly, through a wireless technology, with no line-of-sight requirements, you would utilize:
RFID (radio frequency identification)
community of practice (CoP)
a group of ppl who share a concern, problem, or passion about a topic, and who deepen their knowledge and expertise in this area by interacting on an ongoing basis.
if you start a new business you need info about
the competitors, goverment regulations, and customers
What is Federal Deposit Insurance Corporation?
the federal agency that helps to regulate banks and other financial institutions.
What were the 5 stages of the evolution of technolgy?
1. Handicraft, least specialzed 2. mechanization task/job specialiazation 3. Mechanistic 4. automation 5. cybernated or machines controlling machines.
what is an advantage of being in a union
earn higher wages or featherbedding
What three tools are most likely used during a performance test?
My Alerts, PegaRules Log Analyzer and Performance Analyzer (PAL)
WHat are the attributes of a screen flow?
Presents a single user with a swquence of forms to complete the screens, can not be used as a starter flow
le gérant
demand 5.2
stage 5
test marketing
monetary policy 6.3
Coins and paper money
Communicated with and influences politicians to support a particular interest or stake as they consider a particular law, policy or regulation
blue chip stocks
high quality companies
process of starting, organizing, managing, assuming the responsabilty of a business: persistent, inquistive, entergetic.
"musical picture experts group" develops standards for digital audio adn video compression
characterized by or displaying insight; perceptive.
Geographical, Demographical, Psychographic, Product-related
How are Markets segmented?
Trade shows
Special meetings where companies display their products.
mission statement
written explanation of an organization's business intentions and aims
Application of Resources such as people and machinery to convert materials into finished goods and services
A form of business organization defined by the Uniformed Partnership Act as "An association of two or more persons who carry in as co-owners of a business for profit"
What is DCO
direct capture of objectives
Function of Epithelial
Protection (mechanical injury, microbes, fluid loss, stretch (like bladder), transport material, in and out body)
directive leaders
Leaders who provide specific directions to their employees. They lead employees by clarifying role expectations, setting schedules, and making sure that employees know what to do on a given work day.
brand equity
The combination of factors—such as awareness, loyalty, perceived quality, images, and emotions—that people associate with a given brand name.
without pity or compassion; cruel; merciless:
open to discussion or debate; doubtful
Penetration Pricing
setting lower prices than their competition
a business that moves from one business
One type of management tactic for dealing with organized labor is the ______ which attempts to put pressure on union members by closing the firm.
competency license
State requirements for people in certain occupations and businesses to pass exams in order to practice in their given profession.
Information-Discovery Culture
Employees across departments are open to new insights about crisis and radical changes and seek ways to create competitive advantages.
primary market
the securities market where new securities are sold to the public
What term means, a separate legal entity formed by documents filed with your state?
A large commercial landscaping service in the Southwest requires all Hispanic applicants for crew boss positions to have a U.S. high school diploma. This is an example of
disparate treatment.
Pleasent Stimuli
Use attractive models, music, or humor
the larger societal forces that affect the microenvironment-demographic, economic, natural, technological, political, and cultural forces
Demand is "inelastic" if quantity demanded changes little as price changes.
Inelastic (demand)
Short, specific written statement of the reason a business exists and what it wants to achieve.
Mission Statement
activities done for others for a cost
wirtten order by the judge commanding a person to appear, give testimony, and perhaps present other evidence
Customer service
The assistance and other resources that a company provides to customers aside from its goods or services.
An employee organization that has the main goal of representing members in employee-management bargaining over jobrelated issues.
to destroy or diminish the perfection of:
A license to sell another's products or to use another's name in business, or both.
intense hatred or dislike toward a person or thing regarded as contemptible, despicable, or repugnant
Grace Period
time period during which no finance charges will be added to your account.
a shop or factory which workers are employed for long hours with low wages and under unhealthy conditions
What is the process of encoding data for security purposes called?
Basic Underlying assumptions
The ingrained beliefs and philosophies of employees
Disruptive Technology
open new markets and destroy old ones.
Monopolistic Competition
the market structure that exists when there are fewer businesses than in a pure competition environment and the differences among the goods they sell are smallEx:Vacuum cleaners, aspirin, and soft drinks
Under HYT guidelines, a SMSgt's retirement must be effective NLT the first day of the month following the month in which the member will complete
28 years service.
Amount owed to suppliers for raw materials delivered. This value is affected by the number of days taken to pay suppliers (Accounts Payable expressed in days) which may be adjusted on the marketing screen.
Accounts Payable
An owner of land on which lost property is discovered through excavation generally has a superior claim to what is found over the founder.
Joint Venture
Agreement between 2 or more countries to share a business product
a term to describe the software and hardware configuration that divides a business application into two tiers, typically with the user interface and some business logic on the user’s computer, such as a PC (the client), and the database and mainstream p
How does a corporation borrow funds?
by issuing bonds
Written legal document that defines ownership and operating procedures and conditions for the business.
Articles of Incorporation
Certificate of Deposite (CD)
A-time deposit (savings)account that earns interest ... delivered at maturity date.
integrative approach
An approach to negotiation in which both parties look for ways to integrate their goals under a larger umbrella.
computer program designed to create most types of business documents
word processing software
target costing
Designing a product so that it satisfies customers and meets the profit margins desired by the firm.
a person or thing that survives or endures, esp. an ancient custom, observance, belief, or the like.
The sale of goods and services to foreign markets.
Drug free workplace policy?
Pre employment drug testing protocol, substance abuse awareness programs and rehabilitation support and expectations of employee behavior supporting a drug free workplace
span of control
The number of subordinates who report directly to an executive or supervisor
open market operations
controlling $ supply growth rate by buying/selling U.S. Treasury securities
Geographic Roll-up M&A
occur at earlier stage in industry life cycle than OVERCAPACITY M&A. Usually fragmented and smaller industries
What is an important duty of the financial manager that makes sure that enough cash is on hand to pay bills as they come due and to meet unexpected expenses?
cash management
The total number of this product sold into all market segments.
Units’ Sold
Real variables
such as real GDP, have been adjusted for changes in prices.
The doctrine that a promise may be enforceable without consideration if that promise reasonably induced another's action, and the breaking of that proise would result in injustice.
Promissory Estopped
Explain first three phases
Prosperity,the period in which most people are working,the demand for goods and services is high.Recession, the period in which demand begins to decrease unemployment begins and GDP growth slows. Depression,is the phase in which most unemployment occurs
Three Types of Connective Tissue Fibers (made of protein)
Collagenous, Elastic and Reticular
waive the right to a jury trial
jury waiver provision
the placement of text or graphics on a line(right, left, center, or justified)
Increasing the scope of a job, so that employees do more different types of work; this may include job enrichment (vertical extension) or job rotation (horizontal extension).
internal business process perspective
1) innovations process 2) operations process 3) post-sales customer service process
tipping point
crisis stage in a process, when a significant change takes place
Life Cycle Funds
Mutual funds that try to tailor their holdings to the investor's individual characteristics, sch as age and risk tolerance. 
pure risk
a risk in which there is only a chance of loss; also called insurable risk
The process where the cost of each good produced decreases as the volume produced increases. This reduction in cost per unit occurs when the initial investment of capital is shared with an increasing number of units of output, and therefore, the cost of p
Economies of Scale
Arbitrary redistribution of wealth
If inflation rate > interest rate, debtors repay creditors with dollars that aren't worth as much and vice versa
• Can identify a user who is a supervisor, together with a set of workers and workbaskets that report to that supervisor.
Work Group
Enterprise collaboration systems
involve the use of software tools to support communication, coordination, and collaboration among members of networked teams and workgroups
The amount of a good or service which will be supplied at a specific price.
Quantitiy Supplied
Introduction, Growth, Maturity, Decline
What are the different stages of the product life cycle?
Public Accounting Oversight Board
a five-member board that has the power to set audit standards and to investigate and sanction accounting firms that certify the books of publicly traded firms. Members are appointed by the SEC
What is the liquidity trap?
A situation in which nominal interest rates are so low, they can no longer fall.
What is a patent?
A license that gives the inventor the sole right to make, use, or sell the item for seventeen years.
In what order do the Maslow's hierarchy of needs come?
Physiological, Safety, Social, Esteem and Self actualisation
life cycle stage of business
start ups -- early stage -- later stage -- mature under valued/turnaround firms
23. Where do you find the Dashboard, Work and Reports tabs?
23.1 On the Home tab
Snow Crab Legs served with
lemon and a set of crab crackers wedge, suspended butter, and a set of crab crackers
The length in the stages of group deveolpment vary from...
Expereince together, skill of members, and short/long term project
What was Herzberg's motivational theory?
It was a two factor theory. He thought there were two main factors in work, one that only decreases job dissatisfaction (hygeine factors - pay, supervision, working conditions).
What is Gross Domestic product, or GDP?
The total dollar value of all final goods and services produced in a country during one year.
A data source often is shown as a(n) ____.
table that consists of a series of rows and columns
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