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business final review Flashcards

1
Q

financial diversification

A

strategy pf investing in a wide variety of securities in order to reduce risk

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2
Q

mutual fund

A

institutional investor that raises funds by selling shares to investors and uses the accumulated funds

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3
Q

exchange traded fund

A

shares traded on securities market that represent the legal right of ownership over part of a basket of individual stock certificates or other securities

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4
Q

public offering

A

primary market issue in which new securities are offered to any investors willing and able to purchase them

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5
Q

initial public offering (IPO)

A

first time a company issues stock that may be bought by the general public

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6
Q

underwriting

A

arrangement under which an investment banker agrees to purchase all shared of a public offering at an agreed-upon price

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7
Q

registration statement

A

long, complex document that firms must file with the SEC when they sell securities through a public offering

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8
Q

private placement

A

primary market issue that is negotiated between the issuing corporation and a small group of accredited investors

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9
Q

accredited investor

A

organization or individual investor who meets certain criteria established by the SEC and so qualifies to invest in unregistered securities

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10
Q

stock exchange

A

organized venue for trading stocks and other securities that meet its listing requirements

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11
Q

over-the-counter market

A

securities that are not listed on exchanges are traded

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12
Q

Electronic communications network (ECN)

A

automated securities trading system that automatically matches buyers and sellers, executing trades quickly and allowing trading when securities exchanges are closed

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13
Q

discount broker

A

provide basic services needed to buy and sell securities but offer fewer additional services

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14
Q

full-services brokers

A

provide a wide range of services in addition to carrying out trades

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15
Q

market orders

A

an order telling a broker to buy or sell a specific security at the best currently available price

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16
Q

limit orders

A

an order to a broker to buy a specific stock only if its price is below a certain level, or to sell a specific stock only if its price is above a certain level

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17
Q

stock index

A

statistic that tracks how the prices of specific set of stocks has changed

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18
Q

DIJA

A

index that tracks stock prices of 30 large, well-knwon US corporations

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19
Q

Standard and Poor’s 500

A

stock index based on prices of 500 major US corporations in a variety of industries and market sectors

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20
Q

NASDAQ

A

all domestic and foreign common stocks traded

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21
Q

Wilshire 500

A

stock prices of all US corporations with actively traded stock

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22
Q

Russell 2000

A

stock prices of 2000 relatively small but actively traded

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23
Q

FTSE 100

A

stock prices of 100 actively traded companies

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24
Q

Nikkei 225

A

stock prices of 225 actively traded companies

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25
Q

SSE composite

A

prices on the Shanghai stock exchange

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26
Q

marketing

A

organizational function and process for creating, communicating, and delivery value to customer relationships in ways that benefit the organization and its stakeholders

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27
Q

utility

A

ability of goods and services to satisfy consumer “wants”

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28
Q

form

A

satisfies wants by converting inputs into a finished form

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29
Q

time

A

satisfies wants by providing goods and services at a convenient time

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30
Q

place

A

satisfies wants by providing gods and services at a convenient place

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31
Q

ownership

A

satisfies wants by smoothly transferring ownership of goods and services from seller to buyer

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32
Q

customer relationship management (CRM)

A

ongoing process of acquiring, maintaining, and growing profitable customer relationships by delivering unmatched value

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33
Q

value

A

customer perception that a product has a better relationship than its competitors between the cost and the benefits

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34
Q

customer satisfaction

A

when customers perceive that a good or service delivers value above and beyond their expectations

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35
Q

customer loyalty

A

when customers buy a product from the same supplier again and again - sometimes paying even more for it than they would for a competitive product

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36
Q

marketing plan

A

formal document that define marketing objectives and the specific strategies for achieving those objectives

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37
Q

market segmentation

A

dividing potential customers into groups of similar people, or segments

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38
Q

target market

A

group of people who are most likely to buy a particular product

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39
Q

consumer marketers

A

marketer who direct their efforts toward people who are buying products for personal consumption

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40
Q

business marketers

A

marketer who direct their efforts toward people who are buying products to use either directly or indirectly to produce other products

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41
Q

demographic segmentation

A

dividing the market into smaller groups based on measurable characteristics about people, such as age, income, ethnicity, and gender

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42
Q

geographic segmentation

A

dividing the market into smaller groups based on where consumers live

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43
Q

psychographic segmentation

A

dividing the market into smaller groups based on consumer attitude, interests, values, and lifestyles

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44
Q

behavioral segmentation

A

dividing the market based on how people behave toward various products

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45
Q

marketing mix

A

the blend of marketing strategies for product, price, place/distributing, promotion, and people

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46
Q

environmental scanning

A

the process of continually collecting information from the external marketing environment

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47
Q

market share

A

the percentage of a market controlled by a given marketer

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48
Q

social/culutral

A

cover a vast array of factors, including lifestyle, customs, language, attitudes, interests, and population shifts

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49
Q

technological

A

often affects marketers in ways that are less directly visible

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50
Q

political/legal

A

laws, regulations, and political climate

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51
Q

consumer behavior

A

description of how people act when they are buying, using and discarding, goods and services for their own personal consumption, explores the reasons behind people’s actions

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52
Q

cognitive dissonance

A

consumer discomfort with a purchase decision

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53
Q

marketing research

A

the process of gathering, interpreting, and applying information to uncover marketing opportunities and challenges, and to make better marketing decisions

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54
Q

international perspective

A

research firms with a strong local presence are better able to carry out international marketing research projects

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55
Q

product differentiation

A

the attributes that make a god or service different from other products that compete to meet the same or similar customers needs

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56
Q

quality level

A

how well a product preforms its core functions

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57
Q

product consistency

A

how reliably a product delivers its promised level of quality

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58
Q

product features

A

specific characteristics of a product

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59
Q

customer benefit

A

the advantage that a customer gains from specific product features

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60
Q

product line

A

a group of products that are closely related to each other, either in terms of how they work or the customers they serve

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61
Q

product mix

A

the total number of product lines and individual items sold by a single firm

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62
Q

cannibalization

A

when a producer offers a new product that takes sales away from its existing products

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63
Q

brand

A

product name, symbol, design, reputation, and image that sets it apart from other players in the same category

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64
Q

brand equity

A

overall value of a brand to an organization

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65
Q

line extensions

A

similar products offered under the same brand name

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66
Q

brand extension

A

a new product, in a new category, introduced under an existing brand name

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67
Q

licensing

A

purchasing the right to use another company’s brand name or symbol

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68
Q

cobranding

A

when established brands from different companies join forces to market the same product

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69
Q

national brands

A

brands that the producer owns and markets

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70
Q

store brands

A

brands that the retailer both produces and distributes

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71
Q

discontinuous innovation

A

brand-new ideas that radically change how people live

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72
Q

dynamically continuous innovation

A

characterized by marked changes to existing products

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73
Q

continuous innovation

A

features a slight modification of an existing product

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74
Q

promotion

A

marketing communication designed to influence consumer purchase decisions through information, persuasion, and reminders

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75
Q

integrated marketing communication

A

the coordination of marketing messages through every promotional vehicle to communicate a unified impression about a product

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76
Q

positioning statement

A

a brief statement that articulates how the marketer would like the target market to envision a product relative to the competition

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77
Q

promotional channels

A

specific marketing communication vehicles, including traditional tools, such as advertising, sales promotion, direct marketing, and personal selling, and newer tools such as product placement, advergaming, and internet mini movies

78
Q

advertising

A

paid, non personal communication, designed to influence a target audience with regard to a product, service, organization, or idea

79
Q

sales promotion

A

marketing activities designed to stimulate immediate sales activity through specific short-term programs aimed at either consumers or distributors

80
Q

consumer promotion

A

marketing activities designed generate immediate consumer sales, using tools such as premiums, promotional products, samples, coupons, rebates, and displays

81
Q

trade promotion

A

marketing activities designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term

82
Q

public relations (PR)

A

ongoing effort to create positive relationships with all of a firm’s different publics

83
Q

publicity

A

unpaid stories in the media that influence perceptions about a company or its product

84
Q

personal selling

A

person-to-person presentation of products to potential buyers

85
Q

management

A

achieving the goals of an organization through planning, organizing, leading, and controlling organizational resources including people, money, and time

86
Q

top management

A

managers who set the overall direction of the firm, articulating a vision, establishing priorities, and allocating time, money, and other resources

87
Q

middle management

A

managers who supervise lower-level managers and report to a higher level manager

88
Q

first-line management

A

managers who directly supervise nonmanagement employees

88
Q

human skills

A

the ability to work effectively with and through other people in a range of different relationships

89
Q

technical skills

A

expertise in a specific functional area or department

90
Q

conceptual skills

A

the ability to grasp a big-picture view of the overall organization, the relationships among its various parts, and its fit. in the broader competitive environment

91
Q

Maslow’s hierarchy of needs theory

A

a motivation theory that suggests that human needs fall into a hierarchy and that as each need is met, people become motivated to meet the next highest need in the pyramid

92
Q

Theory X

A

a management approach that assumes employees inherently dislike work and require close supervision, constant control, and external motivators like rewards and punishments to achieve organizational goals

93
Q

Theory Y

A

a management theory that assumes employees are inherently self-motivated, enjoy their work, seek responsibility, and are capable of creative problem-solving

94
Q

job enrichment

A

the creation of jobs with more meaningful content, under the assumption that challenging, creative work will motivate employees

95
Q

expectancy theory

A

a motivation theory that concerns the relationship among individual effort, individual performance, and individual reward

96
Q

equity theory

A

a motivation theory that proposed that perceptions of fairness directly affect worker motivation (what I contribute and what I earn v. what other contribute and what others earn)

97
Q

strategic planing

A

high level, long term planning that establishes a vision for the company, defines long term objectives and priorities, determines broad action steps, and allocated resources

98
Q

tactical planning

A

more specific, shorter term planning that applies strategic plans to specific functional areas

99
Q

operational planning

A

very specific, short term planning that applies tactical plans to daily, weekly, and monthly operations

100
Q

contingency planning

A

planning for unexpected events, usually involving a range of scenarios and assumptions that differ from the assumptions behind the core plans

101
Q

mission

A

the definition of an organization’s purpose, values, and core goals, which provides the framework for all other plans

102
Q

SWOT analysis

A

strategic planning tool that helps management evaluate an organization in terms of internal strengths and weakness, and external opportunities and threats

103
Q

strategic goals

A

concrete benchmarks that managers can use to measure performance in each key area of the organization

104
Q

degree of centralization

A

the extent to which decision-making power is held by a small number of people at the top of the organization

105
Q

span of control

A

span of management; refers to the number of people a manager supervises

106
Q

departmentalization

A

the division of workers into logical groups

107
Q

line organizations

A

organizations with a clear, simple chain of command from top to bottom

108
Q

line and staff organization

A

an organization with line managers forming the primary chain of authority in the company, and staff departments working alongside line departments

109
Q

matrix organization

A

organizations with a flexible structure that brings together specialists from different areas of the company to work on individual projects on a temporary basis

110
Q

HR management

A

the management function focused on maximizing the effectiveness of the workforce by recruiting world class talent, promoting career development, and determining workforce strategies to boost organizational effectiveness

111
Q

job analysis

A

the examination of specific tasks that are assigned to each position, independent of who might be holding the job at any specific time

112
Q

job description

A

an explanation of the responsibilities of a specific person

113
Q

job specifications

A

the specific qualifications necessary to hold a particular position

114
Q

internal recruitment

A

the process of seeking employees who are currently within the firm to fill open positions

115
Q

external recruitment

A

the process of seeking new employees from outside the firm

116
Q

compensation

A

the combination of pay and benefits that employees receive in exchange for their work

117
Q

profit sharing

A

reward employees with a share of company profits above and beyond predetermined goals

118
Q

stock options

A

right to buy shares of company stock at some future date for the price of the shares on the day that the company awarded the options

119
Q

pay for knowledge

A

awarding bonuses and pay increases in exchange for increases in knowledge such as earning an MBA

120
Q

benefits

A

non cash including programs such as health insurance, vacation, and childcare

121
Q

cafeteria style benefits

A

approach that gives all employees a set dollar amount that they must spend on company benefits, allocated however they wish within bread limitation

122
Q

flextime

A

scheduling option that allows workers to choose when they start and finish their workdays, as long as they complete the required number of hours

123
Q

compressed workweek

A

a version of flextime scheduling that allows employees to work a full time number of hours in less than the standard workweek

124
Q

remote work

A

offer both benefits and drawbacks to employees and employers

125
Q

job sharing

A

includes benefits such as higher moral and better retention

126
Q

seperation

A

companies should proceed carefully while terminating employees in order to avoid wrongful termination lawsuits

127
Q

Civil Right Act of 1964

A

federal legislation that prohibits discrimination in hiring, firing, compensation, apprenticeships, training, terms, and conditions, or priveledges of employment based on race, religion, sex, or national origin

128
Q

Title VII

A

prohibits discrimination for employers with 15 or more workers

129
Q

equal employment opportunity commission

A

a federal agency designed to regulate and enforce the provisions of Title VII

130
Q

affirmative action

A

policies meant to increase employment and educational opportunities for historically marginalized groups

131
Q

hardware

A

physical tools and equipment used to collect, input, store, organize, and process data and to distribute information

132
Q

software

A

programs that provide instructions to a computer so that it can perform a desired task

133
Q

internet

A

the world’s largest computer network: essentially a network of computer networks all operating under a common set of rules that allow them to communicate with each other

134
Q

broadband internet connection

A

an internet connection that is capable of transmitting large amounts of information very quickly

135
Q

internet2 (I2)

A

new high tech internet with access limited to a consortium of member organizations

136
Q

intranet

A

private network that had the look and feel of the internet and is navigated using a web browser, but which limits access to a single firm’s employees

137
Q

extrant

A

an intranet that allows limits access to a selected group of stakeholders, such as suppliers or customers

138
Q

cloud computing

A

use of internet based storage capacity, processing power, and computer applications to supplement or replace internally owned information technology resources

139
Q

data

A

unprocessed facts and figures

140
Q

database

A

a file consisting of related data organized according to a logical system and stored on a hard drive or some other computer accessible media

141
Q

decision support system (DSS)

A

a system that gives managers access to large amounts of data and the processing power to convert these data into high quality information, thus improving the decision making process

142
Q

business intelligence system

A

a sophisticated form of decision support system that helps decision makers discover information that was previously hidden

143
Q

data warehouse

A

a large, organization-wide database that stores data in a centralized location

144
Q

data mining

A

the use of sophisticated statistical and mathematical techniques to analyze vast amounts of data to discover hidden patterns and relationships thus creating valuable information

145
Q

expert system (ES)

A

a decision support system that helps managers make better decisions in an area where they lack expertise

146
Q

E-commerce

A

the marketing, buying, selling and servicing or products over a network

147
Q

B2C

A

E-commerce in which businesses and final consumers interact

148
Q

B2B

A

E-commerce in markets where businesses buy from and sell to other businesses

149
Q

Web 2.0

A

websites that incorporate interactive and collaborative features to create a richer, more interesting, and more useful experience for their users

150
Q

discussion channels and chat rooms

A

the use of web or app based communication tools to hold department based or private dicussions

151
Q

digital advertising

A

marketing strategy that includes advertising on websites, products, social media, and digital apps

152
Q

digital wallet

A

a method used for secure electronic transfer of funds or E-commerce transactions

153
Q

E-marketplace

A

a specialized internet site where buyers and sellers engaged in business to business e-commerce can communicate and conduct business

154
Q

radio frequency identification (RFID)

A

a technology that stores information on small microchips that can transmit the information when they are within a range of a special reader

155
Q

malware

A

a general term for malicious software, such as spyware, computer viruses, and worms

156
Q

spyware

A

software that is installed on a computer without the user’s knowledge or permission to track the user’s behavior

157
Q

computer virus

A

computer software that can be spread form one computer to another without the knowledge or permission of the computer users by attaching itself to emails or other files

158
Q

worm

A

malicious computer software that, unlike viruses, can spread on its own by using well known vulnerabilities to enter computer networks without being attached to other files

159
Q

spam

A

unsolicited email advertisements usually sent to very large numbers of recipients, many of whom may have no interest in the message

160
Q

phising

A

a scam in which official looking emails are sent to individuals in an attempt to get them to divulge private information such as passwords, usernames, and account numbers

161
Q

pharming

A

a scam that seeks to steal identities by routing internet traffic to fake websites

162
Q

hacker

A

skilled computer user who uses their expertise to gain unauthorized access to the computer of others, sometimes with malicious intent

163
Q

firewall

A

software and/or hardware designed to prevent unwanted access to a computer or system

164
Q

intellectual property

A

property that is the result of creative or intellectual effort, such as books, musical works, inventions, and computer software

165
Q

operations management

A

creating value by managing the activities that produce goods and services and the distributing them to customers

166
Q

efficiency

A

producing output of achieving a goal at the lowest cost

167
Q

effectiveness

A

using resources to create value by providing customers with goods and service that offer a better relationship between price and perceived benefits

168
Q

goods

A

tangible products

169
Q

services

A

intangible products

170
Q

process

A

a set of related activities that transform inputs into outputs, thus adding value

171
Q

inventory

A

stocks of goods or other items held by organizations

172
Q

critical path method (CPM)

A

a project management tool that illustrates the relationships among all the activities involved in completing a project and identifies the sequence of activities likely to take the longest to complete

173
Q

value chain

A

network of relationships that channels the flow of inputs, information, and financial resources through all the processes directly or indirectly involved in producing goods and services and distributing them to customers

174
Q

vertical integration

A

performance of processes internally that were previously performed by other organizations in a supply chain

175
Q

outsourcing

A

arranging for other organizations to preform supply chain functions that were previously preformed internally

176
Q

offshoring

A

moving production or support processes to foreign countries

177
Q

enterprise resourcing plan (ERP)

A

software based approach to integrate an organizations information flows

178
Q

servicescape

A

the environment in which a customer and service provider interact

179
Q

automation

A

replacing human operation and control of machinery and equipment with some form of programmed control

180
Q

robot

A

a reprogrammable machine that is capable of manipulating materials, tools, parts, and specialized devices in order to preform a variety of tasks

181
Q

computer aided design (CAD)

A

drawing and drafting software that enable users to create and edit blueprints and design drawings quickly and easily

182
Q

computer aided manufacturing (CAM)

A

software that takes the electronic design for a product and creates the programmed instructions that robots must follow to produce that product as efficiently as possible

183
Q

computer aided manufacturing (CIM)

A

a combination of CAD/CAM software within flexible manufacturing systems to automate almost all steps involved in designing, testing, and producing a product

184
Q

total quality management (IQM)

A

an approach to quality improvement that calls for everyone within an organization to take responsibility for improving quality and emphasizes the need for a long term commitment to continuous improvement

185
Q

six sigma

A

an approach to quality improvement characterized by very ambitious quality goals, extensive training of employees, and a long term commitment to working on quality related issues

186
Q

baldrige national quality program

A

a national program to encourage American firms to focus on quality improvement

187
Q

ISO 9000

A

family of generics standards of quality management systems established by the international organization for standardization

188
Q

lean production

A

an approach to production that emphasizes the elimination of waste in all aspects of production processes

189
Q

ISO 1400

A

a family of generic standards for environmental management establishes by the international organization for standardization

business final (1 decks)

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