Shared Flashcard Set

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Bus100 Final Exam
N/A
67
Business
Undergraduate 1
03/10/2011

Additional Business Flashcards

 


 

Cards

Term
Absolute Advantage
Definition
Ability to produce something more efficiently than any other country
Term
Accommodative Stance
Definition
Approach to social responsibility by which a company, if asked to do so, exceeds legal minimums in its commitments to groups and individuals in its social environment
Term
Application Blanks
Definition
Not in the book - Efficient method of gathering information about someone's previous work history, educational background, and other job-related demographic data
Term
Balance of Trade
Definition
Economic value of all the products that a country exports minus the economic value of all the products it imports
Term
Bonds
Definition
Securities through which the seller promises to pay buyers certain amounts of money by specified future dates
Term
Buzz Marketing
Definition
Promotional method that relies on word of mouth to create buzz about products and ideas
Term
CPA
Definition
Certified public accountant - licensed by the state and offering services to the public
Term
Capitalism
Definition
System that sanctions the private ownership of the factors of production and encourages entrepreneurship by offering profits as an incentive
Term
Civil Rights Ace of 1964
Definition
outlawed major forms of discrimination against blacks and women, including racial segregation
Term
Collective Bargaining
Definition
Process by which labor and management negotiate conditions of employment and draft a labor contract for union-represented workers
Term
Collusion
Definition
Illegal agreement between two or more companies to commit a wrongful act
Term
Consumer Bill of Rights
Definition
Definition not in book - includes the right to be safe, to choose freely, to be heard, to be informed, to education, and to service. JFK, 1962
Term
Corporate Culture
Definition
The shared experiences, stories, beliefs, and norms that characterize an organization
Term
Defensive Stance
Definition
Approach to social responsibility by which a company meets only minimum legal requirements in its commitments to groups and individuals in its social environment
Term
Dow Jones Industrial Average
Definition
Oldest and most widely cited market index based on the prices of 30 blue-chip, large-cap industrial firms on the NYSE
Term
EEOC
Definition
Equal Employment Opportunity Commission - Federal agency enforcing several discrimination-related laws
Term
Employment Interviews
Definition
Not in book - Popular selection device although sometimes a poor predictor of job success
Term
Equilibrium
Definition
The price at which both number of goods sold and price per unit are maximized
Term
Exchange Rates
Definition
Rate at which the currency of one nation can be exchanged for the currency of another nation
Term
External Recruitment
Definition
Process of attracting persons outside the organization to apply for jobs
Term
FDC (assuming she meant FTC)
Definition
Federal Trade Commission
Term
FDI
Definition
Foreign Direct Investment - Arrangement in which a firm buys or establishes tangible assets in another country
Term
Financial Accounting
Definition
Field of accounting concerned with external users of a company's financial information
Term
Form Utility
Definition
Marketing has a voice in designing products with features that customers want
Term
Franchise
Definition
Arrangement in which a buyer purchases the right to sell the good or service of the franchiser
Term
Gain Sharing
Definition
Incentive plan that rewards groups for productivity improvements
Term
GDP
Definition
Gross Domestic Product - Total value of all goods and services produced within a given period by a national economy through domestic factors of production
Term
GNP
Definition
Gross National Product - Total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located
Term
Greenwashing
Definition
Using advertising to project a green image without adopting substantive environmentally friendly changes
Term
Insider Trading
Definition
Illegal practice of using special knowledge about a firm for profit or gain
Term
Internal Recruitment
Definition
Process of considering present employees as candidates for openings
Term
Large Cap Stocks
Definition
Companies with market cap value of over $10 billion
Term
Law of Demand
Definition
Principle that buyers will purchase more of a product as its price drops and less as its price increases
Term
Law of Supply
Definition
Principle that producers will offer more of a product for sale as its price rises and less as its price drops
Term
Liquidity
Definition
Ease with which an asset can be converted into cash
Term
Managerial Accounting
Definition
Field of accounting that serves internal users of a company's financial information
Term
Mid Cap Stocks
Definition
A company with a market capitalization between $2 and $10 billion
Term
Transportation
Definition
Activities in transporting resources to the producer and finished goods to customers
Term
NASDAQ
Definition
Market index that includes a high proportion of technology companies and small cap stocks
Term
Net Worth
Definition
The difference between what a firm owns and what a firm owes
Term
Obstructionist Stance
Definition
Approach to social responsibility that involves doing as little as possible and may involve attempts to deny or cover up violations
Term
Oligopoly
Definition
Market or industry characterized by a handful of sellers with the power to influence the prices of their products
Term
OSHA
Definition
Occupational Safety and Health Act 1970 - Federal law setting and enforcing guidelines for protecting workers from unsafe conditions and potential health hazards in the workplace
Term
Ownership Utility
Definition
Marketing arranges for transferring product ownership to customers by setting selling prices, setting terms for customer credit payments, and providing ownership documents
Term
Place Utility
Definition
Marketing creates sales agreements that stipulate where products will be delivered to customers
Term
Time Utility
Definition
Marketing creates sales agreements that stipulate when products will be delivered to customers
Term
Planned Economy
Definition
Economy that relies on a centralized government to control all or most factors of production and to make all or most production and allocation desires
Term
Proactive Stance
Definition
Approach to social responsibility by which a company actively seeks opportunities to contribute to the well-being of groups and individuals
Term
Profit Sharing
Definition
Incentive Plan for distributing bonuses to employees when company profits rise above a certain level
Term
Publicly Held Corporation
Definition
Corporation whose stock is widely held and available for sale to the general public
Term
Russell 2000
Definition
Specialty index that uses 2000 stocks to measure the performance of the smallest US companies
Term
S & P 500
Definition
Index of 500 large cap stock, including companies from various sectors
Term
Salary
Definition
Compensation in the form of money paid for discharging the responsibilities of a job
Term
Selection Procedure
Definition
Term
Shareholders
Definition
People who own shares of stock in a company
Term
Small Cap Stock
Definition
Stock for a company of capitalization value $2 billion or less
Term
Social Responsibility
Definition
Attempt of a business to balance its commitment to groups and individuals in its environment, including customers, other businesses, employees, investors, and local communities
Term
Socialism
Definition
Planned economic system in which the government owns and operates only selected major sources of production
Term
Stakeholders
Definition
A party that can affect or be affected by the actions of the business as a whole
Term
Standard of Living
Definition
Total quantity and quality of goods and services people can purchase with the currency used in their economic system
Term
Strategic Planning
Definition
Plans reflecting decisions about resource allocations, company priorities, and steps needed to meet strategic goals
Term
SWOT
Definition
Identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation
Term
Tariff
Definition
Tax levied on imported products
Term
Venture Capitalists
Definition
Wealthy individuals offering private funds as investments in companies with rapid growth potential
Term
Wage
Definition
Compensation in form of money paid for time worked
Term
Workers Compensation
Definition
Coverage provided by a firm to employees for medical expenses, loss of wages, and rehabilitation costs resulting from job-related injury or disease
Term
World Trade Organization
Definition
Organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices
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