Business Acumen Flashcards
The benefit created when an organization meets its strategic goals; measure of usefulness, worth, or importance.
Value
Presentation to management that establishes that a specific problem exists and argues for a proposed solution.
Business Case
Ratio of gross profit to net sales.
Gross Profit Margin
Business management software, usually a suite of integrated applications, that a company can use to collect, store, manage, and interpret data from many business activities.
Enterprise Resource Planning (ERP)
Performance management tool that depicts an organization’s overall performance, as measured against goals, lagging indicators, and leading indicators.
Balanced Scorecard
Statement of an organization’s financial position at a specific point in time, showing assets, liabilities, and shareholder equity.
Balance Sheet
Applications that can analyze data faster and in more ways than traditional relational databases, offering a multidimensional analysis of business data.
Analytical Processing
Amount of owners’ or shareholders’ portion of a business.
Equity
Ratio of net income (gross sales minus expenses and taxes) to net sales.
Net Profit Margin
Money an organization owes its vendors and suppliers.
Accounts Payable
Ability to use information to gain a deeper understanding of an organization and make sound business decisions.
Business Intelligence
Statement that reports revenues, expenses, and profits for a specified period of time, for example, quarterly or annually.
Income Statement
Document that defines the output customers can expect.
Service-Level Agreement
Financial, physical, and sometimes intangible properties an organization owns.
Assets
The process by which an organization creates the product or service it offers to the customer.
Value Chain
