All Chapters Flashcards
Etching of plastic layers into different shapes by laying down successive layers of material to form a 3D
solid
3D printing
Process of measuring, interpreting, and communicating financial information to support internal and external business decision making
Accounting
Set of activities involved in converting information and individual transactions into financial statements.
Accounting cycle
Formula that states that assets must always equal the sum of liabilities and owners’ equity.
Accounting equation
Accounting method that records revenues and expenses when they occur, not necessarily when cash actually changes hands
Accrual accounting
Paid nonpersonal communication, usually targeted at large numbers of potential buyers.
Advertising
Marketing effort sponsored by an organization that solicits involvement by individuals who share common interests and activities
Affinity program
Outside supplier that provides both the computers and the application support for managing an
information system.
Application service provider (ASP)
Anything of value owned by a company.
Asset
Statement of a company’s financial position—what it owns and claims against its assets—at a particular point in time.
Balance sheet
Situation in which total revenues raised by taxes equal the total proposed spending for the year.
Balanced budget
Process of determining how well other companies perform business functions or tasks.
Benchmarking
Information collected in massive amounts and at unprecedented speed from both traditional and digital sources that is used in business decision making.
Big data
A network of PCs that have been infected with one or more data-stealing viruses.
Botnet
Added value that a respected and successful name gives to a product.
Brand equity
Part of the brand consisting of words or letters included in a name used to identify and distinguish the
company’s offerings from those of competitors.
Brand name
Breakeven analysis
Pricing technique used to determine the minimum sales volume a product must generate at a certain price level to cover all costs.
Situation in which the government spends more than the amount of money it raises through taxes.
Budget deficit
Excess funding that occurs when government spends less than the amount of funds raised through taxes and fees.
Budget surplus
Good or service purchased to be used, either directly or indirectly, in the production of other goods for resale
Business (B2B) product
Activities and technologies for gathering, storing, and analyzing data to make better competitive
decisions.
Business intelligence
Mix of a company’s debt and equity capital.
Capital structure
Vendor that is designated by the business customer as the major supplier to assume responsibility for dealing with all the other vendors for a project and presenting the entire package to the business buyer
Category advisor
Form of institutional advertising that promotes a specific viewpoint on a public issue as a way to influence public opinion and the legislative process
Cause advertising
Marketing that promotes a cause or social issue, such as preventing child abuse, anti-littering efforts, and stop-smoking campaigns
Cause marketing
Executive responsible for managing a company’s information system and related computer technologies
Chief information officer (CIO)
Powerful servers store applications software and databases for users to access via the web using anything from a PC to a smart phone
Cloud computing
Cooperative arrangement in which two or more businesses team up to closely link their names on a single product.
Cobranding
Cooperative arrangement in which two businesses jointly market each other’s products.
Comarketing
Economic system in which all property would be shared equally by the people of a community under the direction of a strong central government.
Communism
Strategy that tries to reduce the emphasis on price competition by matching other companies’ prices and concentrating their own marketing efforts on the product, distribution, and promotional elements of
the marketing mix
Competitive pricing
Process that allows engineers to design components as well as entire products on computer screens faster and with fewer mistakes than they could achieve working with traditional drafting systems
Computer-aided design (CAD)
Computer tools to analyze CAD output and enable a manufacturer to analyze the steps that a machine must take to produce a needed product or part
Computer-aided manufacturing (CAM)
Information systems that rely on computer and related technologies to store information electronically in
Computer-based information systems
Production system in which computers help workers design products, control machines, handle materials, and control the production function in an integrated fashion
Computer-integrated manufacturing (CIM)
Good or service that is purchased by end users.
Consumer (B2C) product
Actions of ultimate consumers directly involved in obtaining, consuming, and disposing of products and the decision processes that precede and follow these actions
Consumer behavior
Measurement of the monthly average change in prices of goods and services.
Consumer Price Index (CPI)
Function of evaluating an organization’s performance against its objectives.
Controlling
Allowances provided by marketers in which they share the cost of local advertising of their company’s product or product line with channel partners
Cooperative advertising
Inflation rate of an economy after energy and food prices are removed.
Core inflation rate
Organization’s system of principles, beliefs, and values.
Corporate culture
Formulas that calculate total costs per unit and then add markups to cover overhead costs and generate profits
Cost-based pricing
Persuasive type of promotional presentation.
Creative selling
People who are out of work because of a cyclical contraction in the economy.
Cyclical unemployment
Raw facts and figures that may or may not be relevant to a business decision.
Data
The task of using computer-based technology to evaluate data in a database and identify useful trends.
Data mining
Customer database that allows managers to combine data from several different organizational
functions.
Data warehouse
Process of recognizing a problem or opportunity, evaluating alternative solutions, selecting and implementing an alternative, and assessing the results
Decision making
Centralized integrated collection of data resources.
Database
Gives direct support to business-people during the decision-making process
Decision support system (DSS)
Opposite of inflation, occurs when prices continue to fall.
Deflation
Managerial process of assigning work to employees.
Delegation
Willingness and ability of buyers to purchase goods and services.
Demand
Graph of the amount of a product that buyers will purchase at different prices.
Demand curve
Distinguishes markets on the basis of various demographic or socioeconomic characteristics.
Demographic segmentation
Process of dividing work activities into units within the organization.
Departmentalization
Guiding and motivating employees to accomplish organizational objectives.
Directing
Less expensive and simpler versions of existing products and services that target an entirely new group
of customers
Disruptive innovations
Path that products—and legal ownership of them—follow from producer to consumers or business user.
Distribution channels
Deals with the marketing activities and institutions involved in getting the right good or service to the
company’s customers
Distribution strategy
Sale of assets by a company.
Divestiture
Process by which accounting transactions are entered; each individual transaction always has an offsetting transaction
Double-entry bookkeeping
Social science that analyzes the choices people and governments make in allocating scarce resources.
Economics
Giving employees authority and responsibility to make decisions about their work.
Empowerment
Marketing strategy that focuses on the precise way a B2B purchaser will use a product.
End-use segmentation
Many different types of hardware networked together to create a seamless data flow between organizations
Enterprise computing
Analysis of external environmental factors by marketers to understand how they impact business and
marketing decisions
Environmental scanning
Prevailing market price at which you can buy an item.
Equilibrium price
Marketing or sponsoring short-term events such as athletic competitions and cultural and charitable performances
Event marketing
Is a strategy devoted to maintaining continuous low prices rather than relying on short-term price-cutting
tactics such as cents-off coupons, rebates, and special sales
Everyday low pricing (EDLP)
Activity in which two or more parties give something of value to each other to satisfy perceived needs.
Exchange process
Infrastructure that facilitates the trading of equity securities and stocks.
Exchanges
Lets senior executives access the company’s primary databases, often by touching the computer screen, pointing and clicking a mouse, or using voice recognition.
Executive support system (ESS)
Government actions to increase the money supply in an effort to cut the cost of borrowing, which
encourages business decision makers to make new investments, in turn stimulating employment and economic growth
Expansionary monetary policy
Federal agency that insures deposits at commercial and savings banks.
Federal Deposit Insurance Corporation (FDIC)
Computer program that imitates human thinking through complicated sets of if-then rules.
Expert system
Central bank of the United States.
Federal Reserve System (Fed)
Planning, obtaining, and managing a company’s funds to accomplish its objectives as effectively and efficiently as possible
Finance
Organization responsible for evaluating, setting, or modifying GAAP in the United States.
Financial Accounting Standards Board (FASB)
Executives who develop and implement the firm’s financial plan and determine the most appropriate sources and uses of funds.
Financial managers
Markets in which securities are bought and sold.
Financial markets
Document that specifies the funds needed by a company for a period of time, the timing of inflows and outflows, and the most appropriate sources and uses of funds
Financial plan
Process by which money flows from savers to users.
Financial system
Limits data transfers to certain locations and log system use so that managers can identify attempts to log on with invalid passwords and other threats to a system’s security
Firewall
Government spending and taxation decisions designed to control inflation, reduce unemployment, improve the general welfare of citizens, and encourage economic growth.
Fiscal policy
Production facility that can be quickly modified to manufacture different products
Flexible manufacturing system (FMS)
Marketing initiative that rewards frequent purchases with cash, rebates, merchandise, or other
premiums
Frequency marketing
Applies to members of the workforce who are temporarily not working but are looking for jobs.
Frictional unemployment
Principles that encompass the conventions, rules, and procedures for determining acceptable accounting practices at a particular time
Generally accepted accounting principles (GAAP)
Dividing a market into homogeneous groups on the basis of their locations.
Geographical segmentation
Sum of all goods and services produced within a country’s boundaries during a specific time period, such as a year
Gross domestic product (GDP)
