is an evaluation in which input is solicited, usually anonymously, not from just a person’s managers, but also from coworkers, customers, and subordinates

are defined contribution plans in which pretax dollars are invested in a bundle of investments that are generally managed by an outside investment company

is the ability to produce more of a good or a service than any other country

involves tracking a business’s income and expenses by recording its financial transactions

occur when one company completely buys out another company

is the tangible aspect of the purchase that you can touch, see, hear, smell, or taste

refers to rules and regulations passed by federally established regulatory bodies

is paid, impersonal mass communication from an identified sponsor to persuade or influence a targeted audience

are a group of individuals who offer guidance to the new business owner

promotes an organization’s position on a public issue, such as global warming or immigration

is any software application that displays banner ads or pop-up ads while a program is running

are advisory in style, encouraging employees to contribute ideas rather than specifically directing their tasks

is a commitment to improve the opportunities of defined minority groups

are intermediaries that facilitate negotiations between buyers and sellers of goods and services but never take title (ownership) of the products traded

was founded in 1886 to protect skilled workers

is when a person has no sense of right and wrong and no interest in the moral consequences of his or her actions

are wealthy individuals who are willing to put up their own money in hopes of a profit return later on

are laws that are designed to promote fair competition between companies and to prevent actions that might negatively affect consumers or unfairly harm other businesses

train individuals through classroom or formal instruction and on-the-job training

occurs when a third party settles the dispute after hearing all the issues

(or production line) production is when partially complete products are moved from one worker to the next on a conveyor belt

suggests you structure your portfolio with different types of assets (stocks, bonds, mutual funds, real estate, etc.) to reduce the risks associated with these broad types of investments—mostly from inflation and changes in interest rates

are the things a company owns, including cash, investments, buildings, furniture, and equipment

is the area of accounting responsible for reviewing and evaluating the accuracy of financial reports

consist of the core product and the actual product plus other real or perceived benefits that provide additional value to a customer’s purchase

make decisions without consulting others and dictate assignments

show what a company owns and what it has borrowed (owes) at a fixed point in time and shows the net worth of a business

is a system that shows the difference in total value between the payments into and out of a country over a period of time

are groups of employees that negotiate with an employer for better working conditions or pay

is the legal state of an insolvent person or organization by which their debts are relieved through court action

is a market that indicates decreasing investor confidence as the stock market continues to decline in value

is market segmentation based on certain consumer behavior characteristics

include the need to belong to a group and feel accepted by others

is the use of tools and analysis techniques for treating very large, very complex data sets

are issued by companies that have a long history of consistent growth and stability

usually set policy for the corporation and make the major business and financing decisions

are mutual funds that consist solely of bonds

are debt instruments issued by companies or governments for the purpose of raising capital to finance a large project

are compensation based on total corporate profits

is the systematic recording of a company’s every financial transaction

is when entrepreneurs start a business with little capital

occur when supporters refuse to buy or handle a company’s products or services

involves connecting a brand with other positive attributes, including image, product features, usage situations, organizational associations, brand personality, and symbols

refers to the extent to which a particular brand name is familiar within a particular product category

is the overall value of a brand’s strength in the market

is marketing a product using the same brand name but in a different product category

is an agreement between the owner of a brand and another company or individual who pays a royalty to use the brand in association with a new product

is the degree to which customers consistently prefer one brand to other brands

are a name, term, symbol, or design that distinguishes a company and its products from all others

determines the production level for which total revenue is just enough to cover total costs

takes place when a contract is not fulfilled

are financial plans that outline a company’s planned cash flows, expected operating expenses, and anticipated revenues

is a market that indicates investor confidence as the market continues to increase in value

is when two or more products that usually complement one another are combined and sold at a single price

is the natural periodic increases and decreases in the economy

are entities that offer products to their customers to earn a profit

are organizations that support start-up businesses by offering administrative services, technical support, business networking, sources of financing, and more that a group of start-up companies shares

assists managers in reporting, planning, and forecasting workforce performance

refers to laws that directly affect business activities

are formal documents that state the goals of the business as well as the plan for reaching those goals

is directed to other businesses rather than to consumers

are markets where businesses purchase goods and services from other businesses

(industrial products) are goods and services purchased by businesses for further processing or resale or for use in facilitating business operations

involve the exchange of products, services, and information between businesses on the Internet

refer to e-commerce that takes place directly between businesses and consumers

is a market in which individuals purchase goods and services for their personal consumption

are corporate or municipal bonds where the issuer can either repay investors their initial investment at the maturity date or the issuer can choose to retire the issue early and repay investors at the “callable date”

is the process of determining how much of a product can be produced to meet demand

consider a company’s long-range plans and outline the expected financial needs for significant capital purchases, such as real estate, manufacturing equipment, plant expansions, or technology

are an increase in value that occurs when an investor sells an asset at a higher price than the one at which the asset was bought

is investments in the form of money, equipment, supplies, computers, and other tangible things of value

is an economic system that allows such freedom of choice and encourages private ownership of the resources required to make and provide goods and services

is a decrease in value between the purchase price and the selling price of an asset

are an arena where companies and governments raise long-term funds by selling stocks and bonds and other securities

are short-term budgets that estimate cash inflows and outflows and predict any cash flow gaps for the business

is the money a company receives and spends over a specific period

are corporations governed by Subchapter Cof the Internal Revenue Code

places small teams of workers who handle all aspects of assembly, so each station is equipped with the parts and tools necessary to produce a product from start to finish, and the worker moves through the workstation as he or she conducts the assembly process

designation given to someone who has passed a rigorous series of examinations given by the American Institute of Certified Public Accountants

are typically responsible for the entire operations of the corporation and report directly to the board of directors

report directly to the CEO and are responsible for analyzing and reviewing the financial data, reporting financial performance, preparing budgets, and monitoring expenditures and costs

is the executive in charge of information processing, including systems design and development and data center operations

are responsible for the day-to-day operations of the organization and report directly to the CEO

refers to a group of injured individuals who have come together to file a single claim

is an antitrust law that addresses specific business practices not covered in the Sherman Act, such as mergers

refers to the sharing of information, resources, and software over the Internet

is using one or more brands affiliated with a single product

is a statement of commitment to certain ethical practices

is an asset a borrower promises to give a lender if the borrower is unable to repay a loan

is negotiations between the bargaining unit and the employer for better work conditions and terms of employment

are financial institutions that raise funds from businesses and individuals in the form of checking and savings accounts and use those funds to make loans to businesses and individuals

is an unsecured short-term debt instrument of $100,000 or more, typically issued by a corporation to bridge a cash flow gap created by large accounts receivable, inventory, or payroll

are compensation based directly on an employee’s performance

refers to unwritten, but applied, law created from decisions made by judicial branches of the government that have become precedent for future case decisions

is “ordinary” stock that represents equity ownership in a corporation; it provides voting rights and gives the holder access to dividends and/or capital appreciation

is an economic system in which a state’s government makes all economic decisions and controls all the social services and many of the major resources required for the production of goods and services

means that a country can produce a good or service relatively more efficiently compared to other countries

is payment for work performed, consists of financial and nonfinancial payments

arises when two or more businesses contend with one another to attract customers and gain an advantage

is a pricing strategy based on what the competition is charging

is a company’s ability to gain access to and use resources to give them an edge over their competition

are products or services that go with each other and are consumed together

is earned interest that is added to the principal investment, which continues to be invested so that the interest also continues to earn interest

allows employees to work four 10-hour days each week, or 9 days instead of 10 in a two-week schedule for 80 hours

refers to using a computer and software to create two-dimensional or three-dimensional models of physical parts

uses the design data to control the machinery used in the manufacturing process

systems combine design and manufacturing functions with other automated functions, such as order taking, shipment, and billing for the complete automation of a manufacturing plant

are the ability to think abstractly to picture an organization as a whole and understand its relationship to the remainder of the business community

is a combination of a number of different, perhaps even unrelated, businesses into a single corporation

was formed in 1935 to represent entire industries rather than specific workers’ groups

refers to the written text in the U.S. Constitution and the Bill of Rights; it is the foundation of laws of the United States

are contingent workers who are generally self-employed and who companies hire on a temporary basis to perform specific tasks

refers to the ways individuals or organizations search for, evaluate, purchase, use, and dispose of goods and services

tracks changes in prices over time by measuring changes in the prices of goods and services that represent the average buying pattern of urban households

are convenience goods and services, shopping goods and services, specialty goods and services, and unsought goods and services

are incentives designed to increase final consumer demand for a product

refers to consumers selling goods and services to other consumers, sometimes with the involvement of a third party

refers to online ads automatically generated by the content on a specific site

is a set of plans that ensures that an organization will run as smoothly as possible during an unexpected disruption

are people who are hired on an as-needed basis and lack status as regular, full-time employees

is a method that produces discrete units of products in large numbers one by one continuously and rapidly

is an agreement between two parties in which an offer is made, the parties agree on the terms, consideration is given, and the offer accepted

occurs when a firm subcontracts part or all of its goods to an outside firm as an alternative to owning and operating its own production facility

(monitoring) is the process by which managers measure performance and make sure the company’s plans and strategies are being or have been properly carried out

are those products that customers purchase frequently, immediately, and with little or no deliberation

give a bondholder the right (but not the obligation) to convert the bond into a predetermined number of shares of the company’s stock

are businesses that are owned and governed by members who use its products or services, not by outside investors

is a form of protection provided to creators of original works for a limited period of time

provides the core benefit or service that satisfies the basic need or want that motivates a consumer’s purchase

is the part of an organization’s finance department that is responsible for gathering and assembling data required for key financial statements

(institutional advertising) focuses on creating a positive image toward an organization or an entire industry as opposed to a specific product

are debt securities issued by corporations

are two or more retail outlets owned by a single corporation

is a collection of values, norms, and behavior shared by management and workers that defines the character of an organization

is when a company donates some of its profits or resources to charitable organizations

is defined as a company’s obligation to conduct its activities with the aim of achieving social, environmental, and economic development

are a specific form of business organization that is a legal entity separate from the owner or owners

is based on covering costs and providing for a set profit

are variable expenses a company incurs to manufacture and sell a product, including the price of raw materials used in creating the good along with the labor costs used to produce and sell the items

(bond) is the bond’s interest rate

are selected across a range of critical functional divisions of a business

is a way to generate funds via donations or, more recently, investments from individuals via social networking

refers to contributions of small amounts by a great number of people who believe in a company or product

is soliciting ideas or content from a large group of people, often from an online community

is a unit of exchange for the transfer of goods and services that provides a consistent standard, the value of which is based on an underlying commodity, such as gold

is an increase in the exchange rate value of a nation’s currency

is a decrease in the exchange rate value of a nation’s currency

are those assets that can be turned into cash within a year

(liquidity ratio) is a measurement used to determine the extent to which a company can meet its current financial obligations

is the process of establishing long-term relationships with individual customers to foster loyalty and repeat business

are issued by companies that produce goods or services affected by repeating economic trends

measures unemployment caused by lack of demand for those who want to work

are the representations of a fact or idea

are subsets of data warehouses

is the process of exploring and analyzing the data mart to uncover data relationships and data patterns that will help a business

are vast amounts of data stored in database systems separate from production databases

are collections of tables of data that organize the data and allow simple analysis and reporting

are unsecured bonds, backed only by a corporation’s promise to pay

occurs when a company borrows money that it is legally obligated to repay, with interest, by a specified time

is a measurement of how much debt a company has relative to its assets by comparing a company’s total liabilities to its total shareholders’ equity

are the ability to identify and analyze a challenge, examine the alternatives, choose and implement the best plan of action, and evaluate the results

is a software system that enables companies to analyze collected data so they can predict the impact of business decisions

are issued by companies producing staples such as food, drugs, and insurance and usually maintain their value regardless of the state of the economy

is a continuous decrease in prices over time

refers to how much of a good or a service people want to buy at any given time

(value-based pricing) is pricing a good or a service based on the demand for a product or its perceived value

refers to funds that can be withdrawn at any time without prior notice

illustrates the relationship between demand and price

delegate authority and involve employees in the decision making

is market segmentation according to age, race, religion, gender, ethnic background, and other demographics

refers to the decisions made to structure the company into smaller groups

is the process of spreading out the cost of the equipment over its useful life

is a very severe or long recession

are factors that affect a product from the demand side

are factors that can create a change in supply

is to deliberately reduce the value of a currency in relation to another

refers to the digital (electronic) representation of an individual’s intellect

are those who retail goods or services and bypass intermediaries

sell goods and services door-to-door at homes, offices or at temporary or mobile locations

is a decrease in the rate of inflation

is the interest rate that the Federal Reserve charges banks when they borrow money from it

are a deduction from the regular price charged

is the process that makes products available to consumers when and where the consumers want them

is a set of marketing intermediaries who buy, sell, or transfer title (or ownership) of products as they are passed from producer to consumer or business user

is the concept of having a variety of investments in your portfolio

helps employees and managers improve their understanding of each other’s differences

are payments made from a portion of a company’s profits to shareholders

recognizes that for every transaction that affects an asset, an equal transaction must also affect either a liability or owners’ equity

is the situation that occurs when taxes are paid on the same asset twice

means to research and analyze a business to uncover any hidden problems associated with it

refers to selling a product at a price below the price charged in the producing country; it is illegal and can be difficult to prove

are where only two suppliers exist

is when prices are determined directly between a buyer and a seller, unlike the more traditional fixed pricing in which a seller sets prices

is the quotient of net income divided by outstanding shares that results in the portion of a company’s profit allocated to the stockholders on a per share basis

is the buying and selling of goods and services through the Internet

are certain statistics about economy-wide activity levels

is the study of how individuals and businesses make decisions to best satisfy wants, needs, and desires with limited resources and how efficiently and equitably resources are allocated

is a system that tries to balance the available resources of a country, such as land, capital, and labor, against the wants and needs of consumers

is commonly used to track employees’ keystrokes and e-mails, examine their Internet browsing histories, and even monitor their cell phone and instant messaging usage

is the selling of consumer goods and services over the Internet

are a total restriction on an import or an export

is the ability to understand both one’s own and others’ emotions

are indirect financial and nonfinancial payments an employer offers that supplement cash compensation

refers to regulations that ensure that all workers and employees are treated fairly with respect to employment issues such as wages, working conditions, medical care resulting from workplace injury, and employee benefits

use a company’s pension plan for employees to invest in company stock, effectively giving employees significant ownership in a company

allow employees to buy company stock at a discount

is a legal doctrine that states that an employer can fire an employee for any reason at any time

are regulations that mandate that companies do not discriminate in their hiring practices and include Equal Employment Opportunity laws and the Civil Rights Act, Americans with Disabilities Act, and Age Discrimination in Employment Act

is a system that can do the same inventory control and process scheduling that MRP can do, but that integrates these functions with all the other functions of the business, such as finance, marketing, and human resources

refers to the application of products like Facebook in a corporate setting

are geographic areas targeted for economic revitalizing

are groups of qualified individuals with varied experiences and skills that come together to form a new venture

assume the risk of creating, organizing, and operating a business and direct all of a business’s resources

is the process of surveying the marketing environment to assess external threats and opportunities

is the price at which supply equals demand

is ownership interest in a company in the form of stocks

is the process of raising funds by offering shares of ownership in the company to the general public

is the concept that people derive job satisfaction and motivation by comparing their efforts, and the results from them, with what other people in the firm are receiving

are satisfied by the mastery of a skill and the attention and recognition of others

is the study of the general nature of morals and the specific moral choices a person makes

are designed to boost the awareness of their employees about ethical issues

is a belief that one’s own culture is superior to all other cultures

is a strategy of charging low prices with few, if any, special or promotional sales

are the rates at which currencies are converted into another currency

are a pool of stocks like a mutual fund, but they trade like stocks on the exchange

strategy uses only one outlet in a geographic area

is a software system that is specially designed for the needs of management

is a clear and concise (abbreviated) form of the entire business plan

is the idea that a person’s effort has an appreciable effect on a situation’s result—whether it is a success or failure

suggests an individual’s motivation can be described by the relationship among three psychological forces: expectancy, instrumentality, and valence

are the money a business pays out

is the sale of domestically produced products to other countries

looks outside a business to fill job vacancies

are external factors that generate engagement with the work, such as pay or promotion

refers to the physical arrangement of resources and people in the production process and how they interact

is the process of selling accounts receivable for cash

are the resources used to create goods and services

is a brand that markets several different products under the same brand name

is the interest rate that banks charge other banks when they borrow funds overnight from one another

is a part of the Federal Reserve that buys and sells government securities, which in turn affects the nation’s money supply

is responsible for monetary policy and uses open market operations, banks’ reserve requirements, and changes in the discount rate to help keep the economy from experiencing severe negative or positive swings

is an area of accounting that produces financial documents that investors and people outside of a company use to make decisions about its financial strength

is money used to facilitate a business enterprise

involves the strategic planning and budgeting of short- and long-term funds for current and future needs

(or chief financial officers [CFOs]) oversee the financial operations of a company

refers to information derived from a firm’s overall corporate strategic plan, financial statements, and external financial environment to identify a firm’s long-term and short-term financial requirements

are formal reports of a business’s financial condition that accountants prepare periodically

fill a supervisory role over those employees who carry out the day-to-day operations of a company

determines the appropriate level of taxes and government spending

are assets that have long-term use, such as real estate, buildings, machinery, and equipment

are used for manufacturing large items; the product stays in one place, and the workers move around the product to complete its assembly

(cafeteria plans) permit an employee to pick from a menu of several choices of taxable and nontaxable forms of compensation

is a system in which machines are programmed to process different part types simultaneously, allowing a manufacturer to mass-produce customized products

is an alternative scheduling practice in which management defines a total number of required hours as a core workday and is flexible with starting and ending ties

are U.S. government debt instruments that pay interest quarterly and are issued for a term of two years

is a state of feeling completely involved and focused on a task

are typically groups of 8–10 potential customers who are asked for feedback on a good or a service, an advertisement, an idea, or packaging style

is the process through which future demand for a firm’s products and employees is determined

is the purchasing of property and businesses in a foreign nation

is satisfaction derived from the shape of a good or presentation of a service

is a distribution system where a franchiser sells a proven method of doing business to a franchisee for a fee and a percentage of sales or profits generated by the business

are the independent third-party operators of a franchise

involves selling a well-known brand name or a proven method of doing business to an investor in exchange for a fee and a percentage of sales or profits

are businesses that sell their product or service and its method of doing business to independent third-party operators

refers to the unencumbered flow of goods and services across national borders

is a type of temporary unemployment that occurs when workers move between jobs, change careers, or relocate

is a type of marketing intermediary that provides to other businesses a full line of services, such as carrying stock, maintaining a sales force, offering credit, making deliveries, and helping price, market, and sell products

refers to when assets equal the sum of liabilities plus owners’ equity

are an agreement between a buyer and a seller to receive (or deliver) an asset sometime in the future at a specific price agreed on today

are used to lay out each task in a project, the order in which these tasks must be completed, and how long each task should take

is an international organization that held eight rounds of negotiated agreements or treaties to reduce tariffs and other obstacles to free trade on goods

are standard accounting rules defined by the Financial Accounting Standard Board

are municipal bonds supported by the taxing power of the issuer, so they tend to be very safe

are full owners of the business, are responsible for all the day-to-day business decisions, and remain liable for all the debts and obligations of the business

are businesses where every partner participates in the daily management tasks of the business, and each has some degree of control over the decisions made

is a product that has no brand at all

is market segmentation according to geographic characteristics

is a movement toward a more interconnected and interdependent world economy

refers to the movement away from thinking of the market as being the local market or the national market to thinking of the market as being the entire world

refers to the trend of individual firms moving production to different locations around the globe to take advantage of lower costs or to enhance quality

is a strategy of selling a standardized (or homogeneous) product across the globe

are broad, long-term accomplishments an organization wants to achieve within a certain time frame

are physical products a business sells

is the intangible assets represented by a business’s name, customer service, employee morale, and other factors

refers to the accounting required for organizations that are not focused on generating a profit

are debt securities issued by national governments

are financial awards offered by federal and state governments and some private organizations

factors ecological concerns into business decisions

measures the overall market value of final goods and services produced in a country in a year

tells how much money a company makes just from its products and how efficiently management controls costs in the production process

determines a company’s profitability of production

occurs when a group knows how to work together so that each individual member can achieve flow

is the practice of thinking or making decisions as a group in a way that discourages individual ideas or responsibilities

strive to create fast-growing businesses and look forward to expansion

are issued by young entrepreneurial companies experiencing rapid growth and expansion

are individuals who gain unauthorized entry into a computer system

states that when workers feel important, their productivity increases

describes motivation as a response to a person’s progressive set of needs for physiology, safety, belonging, esteem, and self-actualization

are entrepreneurs who run their businesses out of their homes

occur when two companies that share the same product lines and markets and are in direct competition with each other merge

are flattened organizations where the management layer is collapsed and the majority of the employees are in working teams or groups

is the organizational function that deals with the people in the business: executives and managers plus frontline production, sales, and administrative staff

are factors such as safe working environment, proper pay and benefits, and positive relationships with coworkers

is the illegal gain and use of other people’s personal information

is buying products from other countries

structures have a lower base salary enhanced with commissions, compensation based directly on an employee’s performance

show how much money a company earned during various periods

are issued by companies that pay large dividends, such as utility companies

are contingent workers hired for hard-to-fill jobs that require state-of-the-art skills in construction, financial activities, and professional and business services

represents a collection of related stocks based on certain shared characteristics, such as having a similar size, belonging to a common industry, or trading on the same market exchange

are brands assigned to each product within a company’s product mix

is a field of study developed to help managers understand how to optimally manage people and work

is a rise in the general level of prices over time

are television commercials that run as long as regular TV programs

is data that have been organized or arranged in a way that makes it useful

(Management information systems) focus on applying IT to solve business and economic problems

is the design and implementation of computer-based information systems

is the first sale of stock to the public by a company

is the buying and selling of securities based on information that has not been disclosed to the public

refers to the idea that the outcome of a situation is related to rewards or punishments

are assets such as trademarks, patents, and copyrights that do not have physical characteristics but have value nonetheless

is a strategy to deliver a clear, consistent, and unified message about a company and its products to customers at all contact points

is a creation of the mind, such as an idea, invention, literary or other artistic work

is the use of all available retail outlets to sell a product

uses interactive media, such as interactive video catalogs on the Internet or kiosks at shopping malls, to connect directly with consumers in a personal and engaging way

are flexible processes with shorter production runs, so machinery can be changed over between them to accommodate product changes

is filling job vacancies with existing employees from within a business

uses pop-up banner ads and other techniques to direct people to an organization’s website

create businesses that operate solely online

enable managers to interact with other people to motivate them

are employees who work in an entrepreneurial way within an organizational environment

are internal drives that come from the actual interest of the work or from a sense of purpose and value in the work being done

is the merchandise a business owns but has not yet sold

includes the receiving, storing, handling, and tracking of everything in a company’s stock

have a structure where management is answerable to employees—management’s role is to enable, encourage, and empower employees to do what they do best

is using money to buy an asset where there is a chance of losing part or all of your initial investment

is a specialist who assists in the sale of new securities and prepares financial documents that must be filed with the SEC

standards are international environmental management standards

standards are international quality management standards

defines in detail the particular duties and requirements of the tasks and responsibilities an employee is required to perform

is a formal statement that summarizes what the employee will do in that role

is an arrangement in which two employees work part-time to share one full-time job

are the skills, education, experience, and personal attributes candidates need to possess to successfully fulfill the role

involve shared ownership in a subsidiary firm

refers to the common set of basic values shared across both Jewish and Christian religious traditions

are high-risk bonds that offer high interest rates to attract investors

keeps the smallest amount of inventory on hand as possible, and everything else that is needed is ordered so that it arrives when it is needed

is a human resource that refers to any physical or intellectual work that people contribute to a business’s production

are legally recognized groups dedicated to protecting the interests of workers

is a principle that states that the amount supplied will increase as the price increases; and, the lower the price, the less supplied

is the process of influencing, motivating, and enabling others to contribute to the success and effectiveness of an organization by achieving its goals

is a set of principles concerned with reducing waste and improving flow

refers to conducting a business within the boundaries of all the legal regulations of that industry

are the specific laws governing the products or processes of a specific industry

is the amount of debt used to finance a firm’s assets with the intent that the rate of return on the assets is greater than the cost of the debt

are all debts and obligations owed by a business to outside creditors, suppliers, or other vendors

is the obligation to pay a debt, such as an account payable or a loan

is an agreement in which the licensor’s intangible property—patents, trademarks, service marks, copyrights, trade secrets, or other intellectual property—may be sold or made available to a licensee in exchange for a royalty fee

look for more than profit potential when they begin their businesses

are companies in which the owners have limited personal liability for the debts and the actions of the company

are involved as investors and, as such, are personally liable only up to the amount of their investment in the business and must not actively participate in any decisions of the business

are businesses where at least one partner controls a business’s operations and is personally liable

is a type of distribution intermediary that offers fewer services than full-service wholesalers

refers to the credit that a manager can access at any time up to an amount agreed upon between a bank and a company

is the speed at which assets can be changed into cash

is a complex set of managerial relationships that includes both line organization and staff departments

is a type of mutual fund that charges additional costs (loads) that are rolled into the cost of the funds when they are bought and sold

rely on local consumers to generate business

are a requirement that some portion of a good be produced domestically

are subsets of a larger union that represents smaller groups of workers with interests specific to their industry, region, company, or business sector

occur when management refuses to allow union members to enter a business’s premises

refers to managing the flow of materials, information, and processes involved in getting a product from its initial raw stages to the point of consumption

is a graphic representation or symbol of a company name, trademark, or abbreviation

is financing that is repaid in a period longer than a year

include debts and obligations owed by a company that are due more than one year from the current date

is a product that is priced below its cost

is a measurement of the money supply; it includes the most liquid assets, such as coins, bills, traveler’s checks, and checking accounts

is a measurement of the money supply; it includes M-1 assets plus savings deposits, money market accounts, and certificates of deposit less than $100,000

is a measurement of the money supply; it includes M-1 and M-2 assets plus the least liquid assets, such as large certificates of deposit, large money market accounts, and deposits of Eurodollars

is the study of the behavior of the overall economy

decide what needs to be manufactured and what needs to be purchased from outside suppliers

is the process of working with people and resources to accomplish the goals of an organization

prepare management-trainees to become managers within an organization

focus on applying IT to solve business and economic problems

uses accounting information to help make decisions inside a company

is a brand created by producers

is the mechanism by which buyers and sellers exchange goods and services

is the section of a business plan that identifies who your customers are and explains how you will reach them, detailing the benefits of your product

gives control of economic decisions to individuals and private firms

is a merger between two companies that sell the same products in different markets

is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders

refers to an era that changed the focus from finding the right customer for a product to producing the right product for a customer and doing it better than the competition

includes environmental influences beyond a firm’s control that constrain the organization’s ability to manipulate its marketing mix

are businesses or persons that move goods and services between producers and consumers or between business users

is the combination of four factors—product, price, promotion, and place—designed to serve a targeted market

is a clearly stated goal to be achieved through marketing activities

is a written document that specifies the marketing activities that will take place to achieve organizational objectives

for a good or a service is the price at which everyone who wants the item can get it without anyone wanting more or without any of the item being left over

is the process of gathering and analyzing market information for making marketing decisions

is the general investment risk associated with the overall market

is a subgroup of potential customers who share similar characteristics and, therefore, similar product needs and preferences

is the process of separating the broader market into smaller market groups

is the production of goods or services tailored to meet customers’ individual needs cost-effectively

is the method of producing large quantities of goods at a low cost

is a computer-based program used for inventory control and production planning

have a type of management system in which people are pooled into groups by skills and then assigned to projects as needed

of a bond is the date on which the bond matures and the investor’s principal is repaid

is a process that involves a neutral third party that assists the two parties both privately and collectively to identify issues and develop proposals for resolution

are experienced individuals who help a less experienced person by explaining how to perform specific tasks, creating opportunities for them to learn new skills, and counseling them about the consequences of particular actions and decisions

occur when two companies of similar size mutually agree to combine to form a new company

is the study of how individual businesses, households, and consumers make decisions to allocate their limited resources in the exchange of goods and services

are small, short-term loan specific to small businesses

start their own businesses but are satisfied with keeping their businesses small in an effort to achieve a balanced lifestyle

can be thought of as top managers for one division or a segment of an organization

define the core purpose of the organization—why it exists—and often describe its values, goals, and aspirations

are a blend of market and planned economies

is delivering advertising messages via mobile phones or other mobile devices

refers to how the U.S. Federal Reserve System manages the money supply by buying and selling government securities, setting banks’ reserve requirements, and adjusting the rate at which they can borrow money from the Federal Reserve

are funds that invest in short-term debt obligations, such as Treasury bills and CDs, and are quite safe

is the combined amount of money available within an economy

occur when there is only one provider of a service or a good and no substitutes exist

occurs when there are many buyers and sellers and little differentiation between the products themselves

is a perspective that holds that there is no universal moral truth; instead, there are only people’s individual beliefs, perspectives, and values

include a sense of responsibility, recognition, promotion, and job growth

(two factor theory) states that two factors, hygiene and motivator, influence a person’s motivation

is a strategy in which domestic products are customized to meet the unique local needs, tastes, or preferences of customers abroad

are businesses that manufacture and market products in two or more countries

(or munis) are bonds issued by state or local governments or governmental agencies

are a means by which a group of investors pool money together to invest in a diversified set of investments

is one of the largest and most dominant stock exchanges in the United States; in this exchange system, stocks are traded via an electronic market

have several outlets throughout a country, but do not serve an international market

are the raw materials provided by nature that are used to produce goods and services

is the value of the underlying securities held by a mutual fund; the measure of a fund’s value

is the positive difference between how much money a company takes in versus how much it spends; a negative difference is a net loss

is the “bottom line” stated on the last line of the income statement

are collections of independent, mostly single-function firms that collaborate on a product or a service

is one of the largest and most dominant stock exchanges in the United States; in this exchange system, stocks are bought and sold on a trading floor or via an electronic market

are very narrowly defined sets of potential customers

are mutual funds that have little or no additional costs

are financial institutions that extend credit or loans but do not hold deposits. These lenders will take on loans commercial banks view as too risky

focuses on promoting non-for-profit organizations

is a form of retailing in which consumer contact occurs outside the confines of a traditional brick-and-mortar retail store

is an ongoing agreement to move the United States, Mexico, and Canada closer to true free trade

are businesses that do not pursue profits but instead seek to service the community through social, educational, or political means

is the stock exchange that resulted from the merger between the New York Stock Exchange (NYSE) and the fully electronic stock exchange Euronext

are short-term targets designed to help achieve goals

is when businesses relocate their production facilities overseas or subcontract at least some of the components of their products to foreign companies around the world to achieve lower manufacturing costs

techniques require employees to participate in outside seminars, university-conducted programs, and corporate universities

are a form of competition in which only a few sellers exist

is any form of advertising that uses the Internet to market its message to customers

is a software application that enables very quick analysis of combinations of different business factors

or distance learning, allows employees to take college classes on the Internet at their convenience, enabling them to obtain specific job-related education or pursue a degree

is used to teach the skills for a job as the employee is working

are a form of monetary policy in which the Federal Open Market Committee buys and sells U.S. government securities in the open market to either decrease or increase the nation’s money supply

map out the projected number of units firms expect to sell, the income generated from them, and all of the operating costs incurred to produce and sell them

are the overhead costs incurred with running the business

determines a company’s profitability of operations

determine the process by which tactical plans can be achieved

consists of managing the activities and processes to produce and distribute goods and services

is a need in the market that is not being adequately fulfilled

are a contract that gives a buyer the right to buy (call) or sell (put) a particular security at a specific price on or before a certain date

are salespeople who increase a company’s sales by selling to new customers and increasing sales to existing customers

concentrate on activities that target those who influence purchases made by the final customer

are salespeople who handle repeat sales and build positive customer relationships

is the study of how to create a workplace that fosters motivation and productivity among employees

show how groups of employees fit into the larger organizational structure

is the process of structuring the capital, personnel, raw materials, and other resources to carry out a company’s plans in a way that best matches the nature of the work

integrate a new employee into the company

is the assignment of certain tasks, such as production or accounting, to an outside company or organization

is a security that might be too small to meet the requirements to be traded on a formal exchange such as the NYSE or NASDAQ, and so are traded directly between investment professionals

is literally the amount the owners of a business can call their own

is satisfaction derived from possessing an item

is the amount of money the bondholder will get back once a bond reaches maturity

is a type of business entity in which two or more entities (or partners) share the ownership and the profits and losses of the business

formalize the relationship between the business partners

refers to a property right on a new and useful invention granted by the U.S. Patent and Trademark Office

allows advertisers to pay only for the number of times Web surfers click on their ads

is the process of individuals lending to each other

is a strategy of charging the lowest possible price for a new product

are programs that provide income to individuals in their retirement

occurs when there are many buyers and sellers of products that are virtually identical and any seller can easily enter and exit the market

are an evaluation of an employee’s performance that gives them feedback about how well the worker is doing, as well as where changes and improvements are needed

is an approach that combines goal setting, performance appraisals, and training and development into a unified and ongoing process

are hired on a permanent basis to work a part-time week

are the principles that guide the decisions you make in your life

is direct communication between a firm’s sales force and potential buyers to make a sale and build good customer relations

is a common way to trick online users into sending their personal information, like credit card numbers, straight to hackers

is a system that involves getting products to customers when and where they want them

are basic needs such as water, food, sleep, and reproduction

is a form of protest during a strike when workers walk around company entrances carrying signs and distributing pamphlets that display the nature of their grievances

component of the marketing mix refers to all the methods involved in getting a product into the hands of customers

is the satisfaction derived from obtaining a product where it is desired

is an economic system in which the government has more control over what is produced, the resources to produce the goods and services, and the distribution of the goods and services

is the process of establishing goals and objectives and determining the best ways to accomplish them

is the process of developing a unique marketing mix that best satisfies a target market

is a class of ownership in which the preferred stockholders have a claim to assets before common stockholders if a firm goes out of business

(premium pricing) is the practice of charging a high price to invoke perceptions of high quality and privilege

is charging different prices to different customers when these price differences are not a reflection of cost differences

is the degree to which the demand for a product will be affected by price changes

occurs when a group of companies agree among themselves to set a product’s price, independent of market demand or supply

involves charging a high price for a product initially and then lowering the price over time

is raw data collected by a researcher

are a part of the capital markets that deal with new bond and stock issues

are accountants hired by companies to perform financial accounting tasks in-house

are brands created by a distributor, or a middleman

is the conversion of government-owned production and services to privately owned, profit-seeking enterprises

is production layout in which similar tasks are grouped together, and the partially assembled product moves from one workstation to the next

tracks the average change in prices at the wholesale level

promotes a specific product’s uses, features, and benefits

is the process of distinguishing a product from its competition in real or perceived terms to attract customers

is a merger between two companies selling different but related products in the same market

is the process of getting a good or a service to the customer; it is a series of related activities, with value being added at each stage

refers to the planning, implementation, and control measures used to convert resources into finished products

measures the quantity of goods and services that human and physical resources can produce in a given time period

is a production layout used mostly for high-volume, standardized products that can be produced in a sequential fashion

is the legal responsibility of the manufacturer for damages or injury, associated with defective manufactured or designed products

is a theoretical model describing a product’s sales and profits over the course of its lifetime

is a group of similar products marketed to one general market

is the number of items in any given product line

is the combination of all product lines offered for sale by a company

refers to the number of different product lines a company offers

is a technique of prominently displaying products in television shows, movies, and video games, where they will be seen by potential customers

are earned when a company’s revenue is greater than its expenses

refer to a range of employee and executive compensation plans that depend on the company hitting certain profit targets

maps out the various steps involved in a project, differentiating tasks that must be completed in a certain order from tasks that may be completed simultaneously

occurs when an employee is asked to perform step-by-step instructions or respond to questions

identify the costs needed to accomplish projects

is the strategic combination of promotional tools used to reach targeted customers to achieve marketing objectives

involves all the techniques marketers use to inform targeted customers of the benefits of a product and persuade them to purchase a good, a service, or an idea

is the identification of qualified potential customers

is a formal legal document that provides details about an investment

is market segmentation based on lifestyles, personality traits, motives, and values

(odd or fractional pricing) is the practice of charging a price just below a whole number to give the appearance of a significantly lower price

is a type of external accountant companies hire to do accounting tasks

is information about an individual, an organization, or a product transmitted through mass media at no charge

are corporations that are regulated by the Securities and Exchange Commission

is a management function that establishes and maintains mutually beneficial relationships between an organization and its stakeholders

communicates a message on behalf of a good cause, such as the prevention of wildfires

is the task of acquiring the materials and services needed in the production process

refers to the techniques, activities, and processes used to guarantee that a good or service meets a specified level of quality

are a limitation on the amount of an import allowed to enter a country

refers to electronic systems that allow computers to keep track of the status and quantity of tagged inventory as it moves through the supply chain

is a comparison of numbers and therefore is used to compare current data to data from previous years, competitors’ data, or industry averages

is the physical facilities used to produce goods and services

are partial refunds on what a customer has already paid for a product

is a decline in the GDP for two or more successive quarters of a year

is the process of finding, screening, and selecting people for a specific job

refers to listing an inflated price (the regular retail price or the manufacturer’s suggested retail price) that is then discounted to appear as if it is a good value

are companies that serve a wider area than local businesses but do not serve national or international markets

are compacts abolishing trade barriers among member countries

are the minimum amount of money banks must hold in reserve to cover customers’ withdrawals of their deposits

focuses on attracting customers to a fixed location, such as a department store or a grocery store

are intermediaries that buy products for resale to consumers

are the accumulated profits a business has held onto for reinvestment into a company

is the point in one’s life where one stops participating full-time in a career

is the amount of money generated by a business by either selling goods or performing services

are municipal bonds supported by the income generated by the project they finance

is a practice whereby older employees, often executives, are trained by younger ones on how to use technology and on new trends in the marketplace

is a direct relationship between risk and return for all securities, with the least risky investments offering the lowest amount of return and vice versa

is the way in which goods are transported, via water, rail, truck, or air

include establishing safe and stable places to live

are annual pay for a specific job

is a short-term activity that targets consumers and other businesses for the purpose of generating interest in a product

of 2002 is an act passed by the United States Congress that protects investors from possible fraudulent accounting methods used by organizations

refers to the efficient organization of equipment, facilities, labor, and materials

is a volunteer organization of retired executives who offer workshops and counseling to small businesses at no cost

are regular corporations (C corporations) that have elected to be taxed under a special section of the Internal Revenue Code called Subchapter S

is a type of unemployment that measures those out of work during the off-season, such as those employed in snow- or beach-related industries, agriculture, and/or holiday activities

is data that have already been collected and processed

are the markets in which investors purchase securities from other investors rather than directly from an issuing company

are bonds backed by collateral, which is generally corporate-owned property that will pass to the bondholders (or be sold to reimburse bondholders) if the issuer does not repay the amount borrowed

are loans that require collateral, which is generally the asset that the loan is financing, to guarantee the debt obligation

are investment instruments such as bonds (debt) or stock (equity)

is the federal agency that regulates and governs the securities industry

uses only a portion of the many possible retail outlets for selling a product

include the desire to maximize your own potential through education and self-fulfillment as well as experiences of beauty and spirituality

are bonds that have a series of dates on which portions of the debt associated with them mature, unlike traditional bonds, which are paid back all at once

are U.S. government bonds that have a 20-year maturity but pay interest for up to a total of 30 years

is a type of entrepreneur who continuously launches and grows many new businesses

are U.S. government bonds that have an interest rate that is partly fixed and partly variable

are intangible products that are bought or sold

describes habits of behavior exhibited by successful people

have an ownership interest in a company

is an antitrust law that was created to prevent large, powerful companies from coming together and dominating industries

are products that are less frequently purchased and require that the customer spend more time and effort in comparing the products

is the situation in which demand exceeds supply

is any type of financing repaid within a year or less

(current liabilities) are obligations a company is responsible for paying within a year or less

provides realistic job-task training in a manner that is challenging but does not create the threat of failure

is a type of savings fund into which a company deposits money regularly to help repay a bond

is when people make decisions based on a specific situation instead of universal laws

is a statistically based, proactive, long-term process designed to examine the overall business process and prevent problems

is an independent agency of the federal government that was formed to aid, counsel, assist, and protect the interests of small businesses

are independently owned and operated businesses that are not dominant in their field of operation

are private venture capital firms licensed by the SBA to make equity capital or long-term loans available to small companies

is a study of how well a company is meeting its social responsibilities

set out to create innovative solutions in the social sector; they are entrepreneurs with a social mission

is an interconnected system of different demographic factors, such as race, ethnicity, gender, age, income distribution, sexual orientation, and other characteristics

build and develop ventures within a company that are designed to identify and solve large-scale social problems

is an economic system where the government owns or controls many basic businesses and services so that profits can be distributed evenly among the people

is investing only in companies that have met a certain standard of CSR

is the practice of collecting social media mentions of a specific product or company for analysis and reporting on patterns and trends

are websites that make it easy for people to connect online for the purposes of building and supporting social relationships

are businesses that are owned, and usually operated, by a single individual

are government investment funds that take the pool of money that exists in the year of a trade surplus and invest it

refers to the number of functions, people, or things for which an individual or organization is responsible

have unique characteristics and no suitable substitutes

is computer software that tracks your personal information and passes it on to a third party without your knowledge

is the organization of a company into specific groups that interact with a focused product line or service

show the exchange of money between a company and everyone else it deals with over a period of time

uses statistical sampling of products at every phase of production and displays the results on a graph to show potential variations that need to be corrected

is the continual monitoring of the entire production process to ensure that quality standards are being met at every stage

refers to laws passed by the legislative branches of the federal or state government

is a unit of ownership in a company that is sold with the intention of raising capital to finance the firm’s ongoing or future projects and expansions

are professionals who buy and sell securities on behalf of investors

represent stock ownership and include the details of the stock issue, such as the company name, the number of shares the certificate represents, and the type of stock being issued

are organization that facilitate the exchange of stocks and other securities between brokers and traders

are owners of a company, and although they do not have direct control over the day-to-day management of a company, they do have a say in the composition of its board of directors

(equity funds) are funds that invest in stocks with a particular strategy in mind (growth funds, value funds, and blend funds) or those that invest in companies that are defined by their capitalization or size (large-cap funds, mid-cap funds, and small-cap funds)

allow employees to purchase a specific number of shares of stock at a specific price but only at a specific point in time

are cooperative arrangements between actual or potential competitors

are the main course of action created by top-level managers that sets the approach for achieving the long-term goals and objectives of an organization

is a system based on the belief that, rather than improve weak skills, the best way to help employees develop is to determine their strengths and build on them

are replacement personnel hired by management to replace striking union employees

occur when workers agree to stop work until certain demands are met

is a type of unemployment that occurs when an industry changes in such a way that jobs are terminated completely

are when governments make payments to domestic producers

are goods that can be used in place of other goods

refers to how much of a good or a service is available for purchase at any given time

is the process by which products, information, and money move between supplier and consumer

is the entire process of getting products out the door and eventually into the hands of final consumers

illustrates the incentive to supply more of an item as prices increase

are salespeople who obtain new customers but also focus on assisting current customers with technical matters

is the situation in which supply exceeds demand

is the process of working to improve the quality of life in ways that simultaneously protect and enhance the earth’s natural resources for future generations

is used to determine the strategic fit between an organization’s internal and external capabilities; SWOT stands for Strengths, Weaknesses, Opportunities, and Threats

is the effect achieved when two companies combine, in which the result is better than each company could achieve individually

specifically determine the resources and the actions required to implement particular aspects of a strategic plan

estimates the value customers receive from a product and, therefore, the price they are willing to pay and then subtracts an acceptable profit margin to obtain a desired cost

is a specific group of potential customers on which a firm focuses its marketing efforts

are a tax imposed on an imported good or service

is when someone performs a service for someone else

involves preparing taxes and giving advice on tax strategies

include the abilities and knowledge that enable employees to carry out the specific tasks required of a job or a department

refers to items and services such as smartphones, computer software, and digital broadcasting that make businesses more efficient and productive.

is work from home or another location away from the office

are people who sell products over the phone

refers to the act of permanently laying off workers due to poor performance or a discontinued need for their services

states that specialization and trade between countries benefit all who are involved

posits that humans inherently dislike work and will try to avoid it if they can

proposes that people view work as natural and will be motivated to work as long as they are satisfied with their jobs

suggests workers want to cooperate and be loyal to an organization

states that the main motivators are the need for achievement, affiliation, and power

are skills that give people the ability to be effective and productive with their available time

is a method for measuring employee productivity by breaking a task into small steps and carefully observing the precise time and movements required for each step

is when a business makes a product available when it is most needed

are the corporate officers who are responsible for an organization as a whole

is a violation of a right given by law, resulting in injury or damages

consists of all the benefits associated with a good, a service, or an idea that impact a consumer’s purchasing decision

is an integrated approach that focuses on quality from the beginning of the production process up through managerial involvement to detect and correct problems

refers to incentives used to push a product through the distribution system to the final consumer

is the ability to purchase inventory and supplies on credit without interest

exist when the value of a country’s imports exceeds the value of its exports

is a legally protected brand

refers to undisclosed information that provides a competitive advantage

occurs when the value of a country’s exports exceeds the value of its imports

offers a customized product while simultaneously selling it at the lowest possible price

are bonds that mature between 2 and 26 weeks

are bonds that mature in 30 years and pay interest

are bonds whose principal is adjusted to the CPI

are bonds that mature in 2, 5, or 10 years and pay interest semiannually

occur when firms export their technological know-how in exchange for a fee

occurs when a business owner cannot gain access to adequate funding

measures the number of workers who are at least 16 years old, who are not working, and who have been trying to find a job within the past four weeks and still haven’t found one

is defined as behavior that does not conform to a set of approved standards of social or professional behavior

means that if business assets are not enough to pay its debts, then personal assets, such as the sole proprietor’s house, personal investments, or retirement funds, can be used to pay the balance

is a set of model laws that govern businesses selling goods within the United States and its territories; it covers the sale of goods, transfer of ownership, leases, contracts, securities, and borrowing funds

are loans that do not require collateral to guarantee the debt obligation

are products buyers don’t usually think about buying, don’t know exist, or buy only when a specific problem arises

are bonds issued at face value and sold only by the government electronically; they cannot be purchased on the secondary market

is the importance an individual places on the expected outcome of a situation

of a product equals the ratio of a product’s benefits to its costs

are stocks priced lower than what they should be based on the company’s earnings and financial performance

is an investment in the form of money that includes a substantial amount of risk for investors

contribute money to a business in return for some form of equity—a piece of ownership

occur when two companies that have a company/customer relationship or a company/supplier relationship merge

are organized by specific function, such as marketing, finance, purchasing, information technology, and human resources

is a practice that involves using social networks, e-mail, and websites to spread the awareness of a particular brand

is a team whose members primarily communicate electronically with one another because they are not in the same physical space

identifies what the business wants to be in the future

are able to inspire others, believe in their own vision, and move people toward a shared dream

are payments for hourly work

is storing products at convenient locations ready for customers when they are needed

is an employee who reports misconduct, most often to an authority outside the firm

are intermediaries that buy and resell products to other wholesalers, retailers, and industrial users

is a firm owned entirely by another firm rather than individual shareholders

are financial incentives given to older employees to entice them to retire early

is a personnel inventory that includes information about each employee, such as age, education, training, experience, specialized skills, and current and previous positions held within the company

is the amount left over after the company pays off its short-term liabilities with its short-term assets

are benefits that help an employee achieve a balance between the demands of life both inside and outside the workplace

is an international organization that promotes more free trade by extending GATT rules to services, by increasing protection for intellectual property rights, by arbitrating trade disputes, and by monitoring the trade policies of member countries