Business Management II Vocabulary S-Z Flashcards
The quantity or number of goods sold or services sold in the normal operations of a company in a specified period
Sales Volume
A portion of income that is not spent to purchase
Savings
An account with a financial institution
Savings account
the idea that only a finite amount of resources are available or in supply
Scarcity
A loan that is backed up by something the lender can take if the borrower defaults
Secured Loan
Providing goods or services
Selling
Intangible items that have monetary value that satisfy needs and wants
touch or feel
Service
Marketing the reputation of the business
Service-based marketing
Intangible items, something you cannot touch or feel
Services
A person who holds value in an organization
Shareholder
Specified as less than one year
Short-term goals
Detailed goals to help aid in the path to accomplishment
Smart goals
A trust fund instituted to pay benefits for retirees, surviving spouses, and dependents run by the government
Social Security
More equal distribution of goods and services, more government control, and less private market growth
Socialism
A business owned by a single (one) person
Sole Proprietorship
Unsolicited messages often sent to a large number of recipients via email
Spam
Monetary transactions
Spending
All the activities to hire and keep workers
Staffing
Part owner of an organization who has a controlling factor in decisions for the company
Stakeholder
A level of wealth, comforts, or services available to a society or region
Standard of Living
Shares of ownership interest in a company that entitles the holder to a dividend; the shares are sold to raise capital for a corporation
Stocks
Pressures experienced mentally and emotionally
Stress
Applicant put under pressure through rapid succession of questions, hostility or argument to see how applicant reacts
Stress interview
Is not just the title of the email message but the required item to grab attention as well as show your creditability to the recipient
Subject Line
Supervise employees who actually carry out the tasks determined by middle and top management: the act of managing employees in a business
Supervisory Management
Economics, the output for a product and the request for that product
Supply and demand
Coordinating the flow of goods and services from raw materials through production to distribution
Supply Chain Management (SCM)
A study used by an organization to analyze its strengths and weaknesses as well as opportunities and threats
SWOT Analysis
A way to move your cursor over without using the space bar. Automatic indent of 5 spaces
Tab
substantially real, capable of being touched, discernible by the touch
Target market – A specific group of consumers for whom a company creates a product or service; a group of people or companies that you are interested in reaching
Tangible
A specific group of consumers for whom a company creates a product or service; a group of people or companies that you are interested in reaching
Target market
Reduce, defer, eliminate, or adjust the current year tax liability
Tax Sheltered Investments
Required contributions local, state, and federal governments charge citizens that are used to fund public goods and services
Taxes
Questions/screening conducted over the telephone
Telephone interview
Amount of time the loan will be repaid
Time Period
A calculation based on the concept of compounding interest that can be used to determine the future value of money based on the amount available today
Time Value of Money
A specified length of time
Timeline
Calculation of labor and wages for a certain time frame
Timesheet
Manage people and structure of the company
Top Management
Total of the principal loan amount, interest paid, and other fees
Total Cost of a Loan
Total of the down payment, trade-in value, and total loan amount
Total Purchasing Cost
Total Quality Management
Total Quality Management
Amount of money received for trading in an automobile
Trade-In
Switching an aspect to experience gain in another area
Trade-offs
The % of those in the labor force, over the age of 16, actively seeking jobs but unable to find work
Unemployment rate
How much it costs to produce the product
Unit Costs
Price at which a product is sold (by unit)
Unit Sales Pricing
Changes in direct proportion to changes in sales volume, such as; raw material, energy, and labor
Variable Costs
Power comes from the top, work can become very fragmented and communication is lost
Vertical Management
A structure defining the chain of command in which managers direct and control the tasks and responsibilities of their subordinates
Vertical Organization
Unnecessary but desired items which increase the quality of living
Want
Overall state of being happy healthy, and prosperous
Well-being
Money owed to an employee after an injury during work hours or on the job
Workman’s compensation
The period of time from the start of the current calendar or fiscal year to today, often used on paychecks to track withholdings and income
Year-to-Date
No imperfections
Zero Defects - No imperfections
