Business administration Flashcards
commission
amount paid to an employee based on a percentage of an amount received (as distinguished from a salary)
e.g. in sales one often gets this as additional income based on number of sold items
NL: commissie
inventory
an itemized list of merchandise or supplies on hand
NL: inventaris
executive summary
first part of a business document only stating the main points, often read by people who aren’t experts or who won’t read the entire document
NL: samenvatting
touchpoint
point of contact between a business and its customers to strengthen its brand (social media, company website, etc.)
NL: contactmoment
intellectual property
exclusive rights are given to ideas that someone thinks of such as music, words, or other intangible creations
NL: Intellectuele eigendom
appropriation
money set aside (as by a legislature) for a specific purpose
NL: (betalings)krediet
auditor
a qualified accountant who inspects the accounting records and practices of a business
Chamber of Commerce
a local association to promote and protect the interests of businesses
NL: Kamer van Koophandel
credit
money available for a client to borrow
wholesale
the selling of goods to merchants, usually in large quantities
NL: groothandel
inheritance/estate tax
Tax paid by person who is left money or property
NL: erfbelasting / successierechten
indirect competition
competition between two suppliers of different products that fulfill the same needs (e.g. ice cream shop and cake shop have)
gross income
the entire amount of income before any deductions are made
GDP (gross domestic product)
measures the levels of production of all the citizens or corporations from a particular country working or producing in any country
NL: BBP (bruto binnenlands product)
GNP (Gross national product)
refers to and measures the domestic levels of production in a country. It represents the monetary value of all goods and services produced within a nation’s geographic borders over a specified period of time.
NL: BNP
net pay
amount of gross income after tax and other deductions
franchise
a business operated under an authorization to distribute a company’s goods in a particular area
elastic demand
demand that changes when price changes
—when price or other factors have a big effect on the quantity consumers want to buy. You’ll see it most often when consumers respond to price changes. If the price goes down just a little, they’ll buy a lot more. If prices rise just a bit, they’ll stop buying as much and wait for them to return to normal.
Inelastic demand
when the quantity demanded changes less than the price does.
tort
any wrongdoing for which an action for damages may be brought
NL: onrechtmatige daad
overdraft
withdrawing excess, resulting in a negative balance
NL: bankschuld/debet/overdispositie
ergonomics
the biological science to study the relation between workers and their environments
outsource
obtain goods or services from an outside supplier
asset
a useful or valuable quality of a person
Cash conversion cycle (CCC)
measures how long a company won’t have money if it raises its investments to increase sales
warrant
legal document granting permission to do something
margin
difference between retail price(from manufacturer) and the price in the store(third party distribution channel)
accountability
responsibility to someone or for some activity
storyboard
a series of illustrations and text outlining a commercial’s key scenes in sequential order to communicate an idea
unemployment benefits
payments made by the state or other authorized bodies to unemployed people
overhead
an accounting term that refers to all ongoing business expenses not including or related to direct labour, direct materials or third-party expenses that are billed directly to customers.
A company must pay this on an ongoing basis, regardless of whether the company is doing a high or low volume of business. For example, a service-based business that operates in a traditional white-collar office setting has overhead expenses such as rent, utilities and insurance
time utility
making a product available at a certain time to make it more attractive.
_ is providing the consumer his desired goods at the time when he requires them. Depending upon the everyday needs, holiday season or weather conditions, consumer demand will vary. Ensuring that the goods are delivered to the consumers at the right time forms _.
e.g. demand for cold-drinks often increase during the summer season and hence companies like Coca-cola and Pepsi increase their production and advertising during this peak period.
e.g. Turkeys at Thanksgiving
loss leader
a pricing strategy where a product is sold at a price below its market cost to stimulate other sales of more profitable goods or services.
purchasing power
koopkracht
after sale service
dienst na verkoop
vourcher / coupon
cadeaubon
sales forecast
prognose
target population
doelgroep
recession
teruggang, daling, baisse (in de economie)
excess supply
aanbodoverschot
retail price
winkelprijs
services rendered
verleende/bewezen diensten
barter
ruilhandel
insufficient funds
onvoldoende saldo
adjustable rate mortgage (ARM)
hypotheek met variabele rente
teaser rate
lokpercentage
bridging loan
overbrugingskrediet
income support (UK) / welfare benefits (US)
sociale bijstand
severance pay
ontslagvergoeding
