Individuals who give assistance and advice to line personnel are known as:

staff personnel

A company's ability to maintain its competitives edge by undercutting competitor prices defines:

Cost leadership

A set of value-adding functions or processes that convert inputs into products and services for company customers is known as:

Value chain

A variety of organizational constraints may affect a firm's

Strategy options

Accounting is called

the Language of business

After developing a strategy, company managers must

communicate that strategy to all members in the value chain so that the strategy can be efficiently implemented

Define Confidentiality

Confidentiality means that individuals will refrain from disclosing company information to inappropriate parties such as competitors.

Define authority

authority refers to the right (usually by virtue of position or rank) to use resources to accomplish a task or achieve an objective

Define competence

Competence means that individuals will develop and maintain the skills needed to practice their profession.

Define credibility

Credibility means that individuals will provide full, fair, and timely disclosure of all relevant information.

Define integrity

Integrity means that individuals will not participate in activities that will discredit their company or profession

Law that prohibits u.s. corporations from offering or giving bribes. (directly and indirectly)

Foreign Corrupt Practices act of 1977

On the balance scorecard, what term refers to what an organization must do well

internal business perspective

Product differentiation refers to

a company's ability to offer superior quality products or more unique services than competitors.

The foundation of strategic management is the value chain, which is used to

Identify processes that lead to cost leadership or product differentiation.

What is the objective of Cost accounting?

"Cost accounting information addresses the demands of BOTH financial and management accouinting by providing product cost information to

1. external parties (stock holders, creditors and various regulatory bodies) for investment and credit decisions

2. internal managers for planninng, controlling, decision making, and evaluating performance. 

"

What is the objective of financial accounting?

The objective of financial accounting is to provide useful information to external parties including investors and creditors

What is the objective of management accounting?

Management accounting is used to gather the financial and non financial information needed by internal users.

Management accounting information commonly addresses individual or divisional concerns rather than those of the firm as a whole.

What is the purpose of a mission statement?

"A mission statement expresses the purpose for which the organization exists in society.

These statements are used to develop the organizations strategy, or plan of how the firm will fulfill its goals and objectives by deploying its resources"

how we are doing from an investors/creditors perspective describes:

financial performance perspective

how we are doing in the customers eyes describes:

customer value perspective

how well do we use intellectual captial refers to the term

Learning and growth perspective

An obligation to accomplish a task or achieve an objective defines:

responsibility

Individuals who work toward attaining organizational goals are known as

line personnel