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DECA > BUSINESS MANAGEMENT AND ADMINISTRATION > Flashcards

BUSINESS MANAGEMENT AND ADMINISTRATION Flashcards

1
Q

The process of setting standards and evaluating performance

A

Controlling

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2
Q

Attempts to explain how wealth is created and distributed in communities, how people allocate their resources and any matter that deals with human wants and their satisfaction

A

Economics

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3
Q

Software used for project planning, scheduling, budgeting and documentation. Project management software is also used for collaboration and communication between project participants

A

Project Management Soft

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4
Q

A legal contract between a buyer and seller that describes the quantity, price and products ordered, terms of payment and delivery

A

Purchase Order

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5
Q

Planned set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations

A

Project

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6
Q

The process of establishing and maintaining authority over and throughout a business

A

Organizational Control

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7
Q

The act of overseeing all activities and tasks needed to maintain a desired level of excellence

A

Quality Management Framework

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8
Q

A group of individuals assembled to perform activities that contribute toward achieving a common task related goal

A

Project Team

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9
Q

Setting goals and determining how to reach them

A

Planning

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10
Q

To acquire goods or services to accomplish the goals of an organization

A

Purchasing

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11
Q

A limit on either the quantity or value of a product that may be imported

A

Quoto

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12
Q

Information management is the process of collecting and analyzing data that can be used in the strategic decision making process for a business

A

Information Managment

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13
Q

Products that come in from another country

A

Important

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14
Q

The worldwide business that involves making and collecting payments for transactions in goods and services, and transporting those products to various markets

A

Global Trade

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15
Q

A process improvement technique for evaluating how efficiently a company is able to deliver technology products to its customers

A

Capability Maturity Model Integration

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16
Q

The probability of loss inherent in an organization’s operations and environment that may impair its ability to provide returns on investment

A

Business Risk

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17
Q

Reviewing very large amounts of data for useful information. This activity often uses advanced statistical tools to determine trends, patterns and relationships. Data mining can also be referred to as data surfing

A

Data Mining

18
Q

Products that leave for another country

A

Export

19
Q

Bargaining process between two or more seeking to discover a common ground and reach an agreement to settle a matter of mutual concern

A

Negotiation

20
Q

A written set of guidelines issued by an organization to its workers and management to help workers conduct his/her actions in accordance with the primary values and ethical standards of the organization

A

Rules of Conduct

21
Q

Analysis of the factors associated with customers and competitors and the business itself to provide the basis for maintaining optimum management practices

A

Strategic Management

22
Q

Strategy designed to identify, document and share an organization’s intellectual assets to benefit performance

A

Knowledge Management

23
Q

The strategy involves creating groups of people within the business or organization who have expert status in various methods, and then each project is carried out according to a set of steps in an effort to reach specific financial milestones. A six sigma process is defined as one in which 99.99966% of products created are expected to be statistically free from defects

A

Six Sigma

24
Q

The overall objectives, purpose and mission of a business that have been established by its management and communicated to its employees

A

Organizational Goals

25
Q

Project Management

A

Project management is using knowledge, skills and techniques to execute a temporary group activity designed to develop a product, service or outcome both effectively and efficiently

26
Q

Activities involved in ensuring a process is predictable, stable and consistently operating at the target level of performance with only normal variation

A

Process Control

27
Q

The process of buying and storing materials and products while controlling costs for ordering, shipping, handling and storage

A

Inventory Management

28
Q

A comprehensive set of documents, which defines best practices and accepted techniques in the Information Technology community

A

Information Library Infrastructure Library

29
Q

A complete ban on specific goods coming into or leaving a country

A

Embargo

30
Q

The difference in value between exports and imports of a nation

A

Balance of Trade

31
Q

Monitoring the opportunity for loss within a business

A

Risk Management

32
Q

The selection and training of individuals for specific job functions, and delegating them the associated responsibilities

A

Staffing

33
Q

State of being efficient or methodical

A

Organize

34
Q

Commercial trade between nations through free market principles and without regulation

A

Free Trade

35
Q

A document prepared by an analyst or strategist. Research reports generally have “actionable” recommendations

A

Research Report

36
Q

The process of building an effective work climate and creating opportunity for motivation, supervising, scheduling, and disciplining

A

Directing

37
Q

Awareness of and ability to understand one’s own actions and reactions

A

Self-understanding

38
Q

A process of achieving defined goals within an established timetable, and usually understood to have three components: setting standards, measuring actual performance and taking corrective action

A

Managerial Control

39
Q

A tax on imports

A

Tariff

40
Q

Investigation into the operations of a business to demonstrate the causes behind the results achieved, and the effects of those results on the business

A

Business Analysis

41
Q

An overall approach to long-term success that views continuous improvement in all aspects of an organization as a process and not as a short-term goal. It aims to transform an organization through changes in the attitudes, practices, structures, and systems

A

Total Quality Management

DECA (1 decks)

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