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MBA > MBA > Flashcards

MBA Flashcards

1
Q

Acid-Test Ratio (Quick Ratio)

A

The ratio of current assets and current liabilities.

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2
Q

When equal to one it indicates the most liquid assets of a business are equal to its total debts and will just manage to repay all its debts by using its cash

A

marketable securities

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3
Q

Action-Centered Leadership (John Adair’s Model)

A

Represents 3 key balanced activities

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4
Q

Activity-Based Costing (ABC)

A

Accounting system that recognizes a business firm’s relationship between costs

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5
Q

Actual Cash Value

A

The amount of money

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6
Q

Advanced Planning and Scheduling Software (APS)

A

A type of system that tracks costs based on the activities that are responsible for driving costs in the production of manufactured goods.

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7
Q

Keeping a close eye on its data allows teams to know whether or not they need to order more supplies

A

they can track how much of their budget they have used on the project and they can

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8
Q

Adverse Selection

A

The theory that poor quality goods are more likely to sell than good ones because some sellers want to get rid of products

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9
Q

Affiliative Leadership

A

Leadership style focusing on renewing a sense of kinship and building trust among various factions whose cooperation is desirable for promoting the goals of the organization.

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10
Q

However

A

in an effort to appease people and help them realize their true potential

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11
Q

Agile Manufacturing

A

Flexible manufacturing practices utilizing processes

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12
Q

Alpha Rating

A

The return a security or portfolio would be expected to earn if the market’s rate of return were zero.

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13
Q

Anti-trust Laws

A

Laws that prevent monopolies in the USA.

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14
Q

Ask

A

The net asset value of a mutual fund plus any sales charges

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15
Q

Asymmetric Information

A

Information that differs between parties; results in situation where consumers

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16
Q

Attention Management

A

Management method of ensuring that employees are focused on their work and on organizational goals since inattentiveness results in wasted time.

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17
Q

Attitude Survey

A

A series of marketing questions that tap into people’s feelings toward a firm or product.

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18
Q

Used for research to assess the feelings of a target audience toward a product

A

brand

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19
Q

Autocrat Leadership

A

Leadership style of taking total authority and control over decision-making.

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20
Q

By virtue of their position

A

an autocratic leaders not only control the efforts of the team

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21
Q

Average Up

A

To purchase additional shares of a security whose price is rising at intervals during the price rise period.

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22
Q

Averaging

A

Buying or selling of stocks at different times and at different prices to establish an average price.

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23
Q

Back Office

A

Refers to general management or administrative staff who do not have direct dealings with the company’s customers.

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24
Q

Balanced Scorecard

A

A strategic management planning system aligning business activities to the vision and strategy of the organization

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25
Q

Balance Sheet

A

An income statement summarizing the financial affairs of a firm for a given period of time

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26
Q

Describes the financial conditions at one point in time

A

such as the last day of the year.

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27
Q

Shows the worth of the business at a particular time by listing its assets (things owned such as property

A

equipment) and money owned to the business

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28
Q

Below-the-line

A

Used to describe a country’s capital transactions

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29
Q

Benchmark

A

A point of reference

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30
Q

Originally used for a set of computer programs to measure the performance of a computer against similar models

A

it is now used more generally to describe a measure identified in the context of a program.

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31
Q

Beta

A

Represents an estimate of the fluctuations in value of a stock in relation to the market as a whole.

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32
Q

When below 1 can indicate either an investment with lower volatility than the market

A

or a volatile investment whose price movements are not highly correlated with the market.

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33
Q

Beta Rating

A

Utilities have a beta of less than 1.

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34
Q

Conversely

A

most high-tech NASDAQ-based stocks have a beta greater than 1 since they offer a higher rate of return

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35
Q

Board of Directors

A

Governing body of incorporated firm.

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36
Q

Board of Trustees

A

Governing body of a non-profit organization such as a charity

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37
Q

Their roles are essentially to set the policies of the organization

A

and appoint (or fire) senior management personnel.

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38
Q

Bond

A

A person who invests in one of these is lending money to a company or government for a specified time with understanding it will be paid back with a fixed interest.

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39
Q

Bond Discount

A

The difference between the face value of a bond and the lower price at which it was issued.

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40
Q

Bond Rating

A

The rating of the reliability of a company

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41
Q

Bottleneck

A

An activity within an organization that has a lower capacity than preceding or subsequent activities

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42
Q

Bottom-up approach

A

Leadership approach that is consultative promoting employee participation at all levels in the decision making and problem solving process.

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43
Q

Brand Loyalty

A

A result of consumer behavior affected by preferences.

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44
Q

Customers will consistently purchase products from their preferred brands

A

regardless of convenience or price.

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45
Q

Brand positioning

A

The strategic development of a brand’s position in the market by heightening customer perception of the brand’s superiority over other brands of a similar nature.

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46
Q

Break-even

A

The point at which revenue from a product cancels out its costs.

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47
Q

Break-even chart

A

A management aid used in conjunction with break-even analysis to calculate the point at which fixed and variable production costs are met by incoming revenue.

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48
Q

Break-even point

A

The cost of an item plus the operating expenses associated with the item.

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49
Q

Above this amount a profit is made

A

below it

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50
Q

Capital Flow

A

The movement of investments from one country to another.

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51
Q

Capitalization

A

A firm’s value measured in its worth of stock and bonds issued.

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52
Q

Cash in

A

Selling stock or other property for cash

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53
Q

Cash management

A

Strategy used by businesses to manage their cash flow in order to have more cash available for short-term investment.

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54
Q

Strategy can include such things as accelerating cast receipts

A

prioritizing cash disbursements

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55
Q

Category Killer

A

A major company that is more efficient

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56
Q

Are a threat to smaller merchants because people tend to flock to the larger stores more often

A

based on their low cost strategies and wider distribution of stores.

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57
Q

Change Management

A

A systematic approach to dealing with change

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58
Q

Channel Management

A

A marketing process of identifying

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59
Q

Cognitive Dissonance

A

Marketing in a way to get customers to buy a product despite the fact that it may not necessarily be good for them and the ability to help them work through this condition.

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60
Q

Competitive Advantage

A

The advantage a firm has over its competitors

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61
Q

Includes cost structure

A

product offerings

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62
Q

Competitive Intelligence

A

Data gathered from rival companies in order to work on improving the organization’s competitive capacity.

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63
Q

Competitive Strategies

A

Attributes companies embrace in their attempt to out perform rivals.

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64
Q

Generic strategies are classified as differentiation

A

cost

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65
Q

Broad Differentiation Strategy

A

One in which a business seeks to differentiate its products or services from their competitors in ways that attract the broadest spectrum of customers in an established industry.

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66
Q

Low-Cost Strategy

A

Entails the process of appealing to the broad spectrum of potential buyers by being able to offer an overall low cost product or service.

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67
Q

Best-cost (provider) strategy

A

Offers customers more value for their dollar

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68
Q

A focused strategy on lower costs

A

a brand positioning strategy that concentrates on out competing rivals by offering customized products or services at a lower cost to a smaller portion of the established buyers.

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69
Q

A focused strategy based on differentiation

A

One in which the focus is on a narrow segment of buyers who are offered a product or service that has been customized to meet their exact tastes and demands and supersedes what competitors are offering.

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70
Q

Complementary Goods

A

Goods sold separately

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71
Q

Conflict Management

A

Management that aims to limit and control conflict in ways that will enhance effectiveness of the organization.

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72
Q

Integration Approach to Conflict Management

A

Involves openness

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73
Q

Contingency Theory

A

The theory that there is no single best way to organize or manage a company and that each company should be organized and structured to suit the technology used and the environment around it. The best way of organizing the company is contingent upon the internal and external situation of the company.

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74
Q

Corporation

A

A form of business organization offering limited liability to shareholders- no more money may be lost than has been invested.

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75
Q

Coupon Rate

A

This is basically the interest rate paid to the holder and is also called the nominal yield or yield rate.

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76
Q

Collaboration

A

Planning

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77
Q

The objective is to increase availability to the customer while reducing inventory

A

transportation and logistics costs.

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78
Q

Current Assets

A

Cash or items that can be converted into cash within a short period of time.

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79
Q

Types include actual cash

A

marketable securities

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80
Q

Actual Cash

A

Cash in checking and savings account

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81
Q

Marketable Securities

A

Stocks

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82
Q

Accounts Receivable

A

Funds owned by customers of the firm

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83
Q

Notes Receivable

A

Value of all notes owed to the firm

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84
Q

Inventory

A

Cost of merchandise that the firm has for sale

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85
Q

Customer order cycle

A

the time customers are willing to wait

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86
Q

Decision theory

A

encompasses both formal mathematical and statistical approaches to solving decision problems

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87
Q

Decentralization

A

Brings delegation of decision-making to sub-units of an organization rather that it being solely at the top.

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88
Q

Decision Tree

A

A schematic tree-shaped diagram used to determine a course of action or show a statistical probability. Each branch represents a possible decision or occurrence. Shows how one choice leads to the next

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89
Q

Deconstruction

A

Involves the breaking up of traditional business structures to meet the requirements of the modern economy. Necessary when systems are archaic and no longer effective.

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90
Q

Delphi technique

A

A widely used systematic forecasting method that involves structured interaction among a group of experts on a subject.

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91
Q

Typically includes rounds of experts answering questions and giving justification for their answers

A

providing the opportunity between rounds for changes and revisions. The multiple rounds

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92
Q

Delta

A

The ratio comparing the change in the price of the underlying asset to the corresponding change in the price of a derivative.

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93
Q

One of 0.7 means that for every $1 the underlying stock increases

A

the call option will increase by $0.70.

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94
Q

Democratic Leadership

A

Leadership style where all individuals are involved in the decision-making process to determine what needs to be done and how it should be done

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95
Q

On the other hand

A

decision making and implementation are delayed compared to autocratic leadership because under this style more than one person is involved in decision making process.

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96
Q

Differential Pricing

A

Allows a company to adjust pricing based on various situations or circumstances.

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97
Q

The price variations come in different forms

A

from discounts for a particular group of people to coupons or rebates for a purchase.

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98
Q

Diffusion of innovation theory

A

for any new product to be successful

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99
Q

(bank) Discount

A

an amount subtracted from the price of a product or service which helps the buyer purchase at lower cost and increases profits.

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100
Q

Dividend

A

money designed by the board of directors to be distributed among stockholders usually stated as a dollar amount per share.

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101
Q

Dividend payout

A

the generated cash that a corporation issued to a shareholder as a dividend on the total number of shares.

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102
Q

Depending on the structure of the stock issue

A

this may involve all the net profit generated during the fiscal year

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103
Q

DuPont formula

A

Method for assessing a company’s return on equity breaking into 3 parts.

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104
Q

If ROE is unsatisfactory

A

the DuPont formula helps locate the part of the business that is under performing.

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105
Q

Early Adopter

A

minority group of population which

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106
Q

Earnings per share (EPS)

A

total earnings (minus dividends on preferred stock) divided by the number of shares outstanding.

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107
Q

Economy of scale

A

economic principal stating that as the volume of production increases

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108
Q

Engagement

A

human resource management approach designed to ensure that employees are sincerely committed to their organization’s goals and values

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109
Q

Equality

A

a principle of management where there is equal opportunity within the organization and avoidance of discrimination by age

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110
Q

Equilibrium Price

A

the price at which the supply of goods matches demand

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111
Q

Ex-coupon

A

a bond or preferred stock that does not include the interest payment or dividend when purchased or sold.

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112
Q

exporting

A

the act of producing goods or services in one country and then selling or trading them abroad

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113
Q

factors of production

A

inputs that are used in the production of goods or services in the attempt to make profit.

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114
Q

Include land

A

labor

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115
Q

fair trade

A

an international business system by which countries agree not to charge import duties on some items imported from their trading partners.

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116
Q

field trial

A

a process to test the physical or engineering properties of a product in order to identify and hash out any technical problems before marketing.

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117
Q

Test marketing

A

used to determine the likely market for

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118
Q

first in

A

first out (FIFO)

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119
Q

During periods of high inflation rates

A

this method yields higher value of the ending inventory

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120
Q

first mover advantage

A

the advantage gained by the initial significant occupant of a market segment.

121
Q

Fishbone chart (cause and effect diagram)

A

Used to identify all possible causes of a problem. The beginning is the head of the fish. A horizontal line extends from the head with diagonal lines on each side of it to denote the fish bones.

122
Q

Porters 5 forces

A

The forces that shape strategy are rivalry among competitors

123
Q

Fixed cost

A

a cost that does not vary depending on production or sales levels such as rent

124
Q

Flow line production

A

a production method in which successive operations are carried out on a product in such a way that it moves through the factory in a single direction.

125
Q

Most widely used in mass production on production lines. Inventory is usually kept to the minimum necessary to ensure continued activity. Stoppages and interruptions to the flow indicate a fault

A

and corrective action can be taken.

126
Q

flow theory

A

a theory of the way in which people become engaged with or disengaged from

127
Q

Suggests that people harmonize in change situations

A

and open

128
Q

focus group

A

a marketing process where selected representative consumers or employees are used for the purposes of providing feedback on preferences and responses to a selected range of issues.

129
Q

forecasting

A

estimating future trends by examining and analyzing available information.

130
Q

formal group

A

purposely designed group to accomplish an organizational objective or task

131
Q

frequency analysis

A

a technique for comparing the number of opportunities to reach the same target audience in different media.

132
Q

fringe benefits

A

rewards given or offered to employees in addition to their wages or salaries and included in their employment contract.

133
Q

Range from share options

A

company cars

134
Q

front office

A

the staff members in the business who deal directly with customers and clients.

135
Q

game theory

A

used to represent conflicts and problems involved in formulating marketing and organizational strategy

136
Q

Gamma

A

a measurement of how fast delta changes

137
Q

In a delta-hedge strategy

A

this is sought to be reduced in order to maintain a hedge over a wider price range.

138
Q

GAP analysis

A

the comparison of actual performance with potential performance in this way. 1. Listing of characteristic factors. 2. listing factors needed to achieve future objectives. 3. highlighting the gaps that exist and need to be filled.

139
Q

Global marketing

A

the process of conceptualizing and conveying a final product or service worldwide with strategies of reaching the international marketing community.

140
Q

Globalization

A

Denotes worldwide movement toward economic

141
Q

Gross margin

A

in finance

142
Q

In operations and production

A

it is the difference between the manufacturing cost of a unit of output and the price at which it is sold.

143
Q

gross profit method

A

a method used to estimate inventory value at cost which utilizes cost amounts.

144
Q

gross yield

A

the income return derived from securities before the deduction of tax

145
Q

group-think

A

the tendency of members of a group to yield to the desire for consensus or unanimity at the cost of considering alternative courses of action.

146
Q

harmonization

A

adjustment of differences and inconsistencies among different measurements

147
Q

harvesting strategy

A

planned discontinuation of a product at the end of its life cycle

148
Q

In this strategy

A

all marketing expenditure is gradually eliminated and the product is allowed to sell on its goodwill unit sales revenue falls below a cutoff point.

149
Q

hedge

A

making an investment to reduce the risk of adverse price movements in an asset. Normally

150
Q

horizontal integration

A

the acquisition of additional business activities that are at the same level of the value chain in similar or different industries.

151
Q

If products offered by the companies are the same or similar

A

it is a merger of competitors.

152
Q

If all producers of a particular good or service in a given market were to merge

A

it would result in the creation of a monopoly.

153
Q

human capital

A

the employees of an organization.

154
Q

human capital accounting

A

placing a financial figure on the knowledge and skills of an organization’s employees or human capital.

155
Q

human resource accounting

A

the identification

156
Q

Human resource forecasting

A

for the sake of HR planning this is the prediction of future levels of demand for

157
Q

Human resource management

A

the function within an organization that focuses on recruitment of

158
Q

human resource planning

A

the ongoing process of systematic planning to achieve optimum use of an organization’s most valuable asset - its human resources.

159
Q

The objective is to ensure the best fit between employees and jobs

A

while avoiding manpower shortages or surpluses.

160
Q

The 3 key elements are forecasting labor demand

A

analyzing present labor supply

161
Q

Import penetration

A

the degree to which one country’s imports dominate the market share of those from other industrialized countries.

162
Q

is the relative share of imports in the supply of goods available for domestic consumption. It expresses imports as a percentage of domestic supply

A

which is shipments minus exports plus imports…

163
Q

import quota

A

a limit on the quantity of a good that can be produced abroad and sold domestically. It is a type of protectionist trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time.

164
Q

importing

A

the business of bringing goods or services into one country from another

165
Q

The higher the value of the imports entering a country

A

compared to the value of exports

166
Q

income bond

A

a bond that a company repays only from its profits

167
Q

income fund

A

a fund that attempts to provide high income rather than capital growth.

168
Q

incorporated

A

formed into a legal corporation

169
Q

infinite capacity planning

A

a way of measuring potential future capacity whereby the actual capacity constraints of each individual workstation are not taken into account.

170
Q

information management

A

is a discipline that governs accountability structure and design

171
Q

innovators

A

first buyers of new technologies

172
Q

inputs

A

resources such as people

173
Q

insourcing

A

delegating a job to someone within a company as opposed to someone outside of the company (outsourcing).

174
Q

Intellectual property

A

intangibles owned by the business such as ideas that are patent

175
Q

interactive planning

A

approach that calls for actively involving all parties that are affected by the project at hand in the process of developing the steps and procedures that ultimately bring the plan to fruition.

176
Q

internal growth

A

organic growth created within a business by inventing new products and so increasing its market share

177
Q

internal marketing

A

involves the creation of an internal market by dividing departments into business units

178
Q

issued shares

A

the number of authorized shares that are sold to and held by the shareholders of a company regardless of whether they are insiders

179
Q

joint bond

A

a bond that is guaranteed by a party other than the company or government that issued it.

180
Q

joint management

A

the overseeing and control of the affairs of an organization shared by two or more people.

181
Q

key account management

A

the management of the customer relationships that are most important to a company.

182
Q

knowledge management

A

the coordination and exploitation of an organization’s knowledge resources

183
Q

laggards

A

the last buyers of technology

184
Q

laissez faire leadership

A

a non-authoritarian leadership style. These leaders try to give the least possible guidance to subordinates and try to achieve control through less obvious means. they believe that people excel when they are left alone to respond to their responsibilities and obligations in their own ways.

185
Q

lambda

A

a ration between the expected change in the price of an option and a one percent change in the expected volatility of the underlying asset.

186
Q

last in

A

last out

187
Q

lead time

A

the amount of time that elapses between when a process starts and when it is completed.

188
Q

lean enterprise

A

an organizational model that strategically applies the key ideas behind lean production. Is viewed as a group of separate individuals

189
Q

lean production

A

a methodology aimed at reducing waste in the form of overproduction

190
Q

Lewin’s stages of change

A

a 3 stage theory of change commonly referred to as unfreeze

191
Q

liquid assets

A

cash or items that can be converted to cash quickly

192
Q

liquidity

A

a firm is liquid if it has the ability to pay its bills as they come due

193
Q

manufacturing cost

A

cumulative total of resources that are directly used in the process of making various goods and products.

194
Q

marginal pricing

A

the process of setting an item’s price at the same level as the extra expense involved in producing another item.

195
Q

marginal revenue

A

the increase in revenue that results from the sale of one additional unit of output.

196
Q

Can remain constant over a certain level of output

A

it follows the laws of diminishing returns and will eventually slow down

197
Q

marketing mix

A

the marketing mix or 4 ps- product

198
Q

marketing penetration pricing

A

the policy of pricing a product or service very competitively

199
Q

market segmentation

A

a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and applications for the relevant goods and services. Depending on the specific characteristics of the product

200
Q

market based pricing

A

setting a price based on the value of the product in the perception of the customer

201
Q

market share

A

the proportion of the total market value of a product or group of products or services that a company

202
Q

Maslow’s hierarchy of needs theory

A

People are motivated to achieve certain needs. When one need is fulfilled a person seeks to fulfill the next one

203
Q
  1. Biological and physiological needs - air
A

food

204
Q
  1. Safety needs- protection from elements
A

security

205
Q
  1. social needs- belonging
A

affection and love from others.

206
Q
  1. esteem needs- achievement
A

mastery

207
Q
  1. Self-actualization needs- realizing personal potential
A

self-fulfillment

208
Q

matrix management

A

a technique of managing an organization through a series of dual-reporting relationships instead of a more traditional linear management structure.

209
Q

matrix organizational structure

A

an organizational structure that facilitates the horizontal flow of skills and information and the main idea is that the management of large projects or product developments processes

210
Q

merchandizing

A

A branch of marketing theory and practice concerned with maximizing product sales by designing

211
Q

merit pay

A

an approach to compensation that rewards the higher performing employees with additional pay or incentive pay. Unlike profit sharing or similar bonus pay schemes

212
Q

Methods study

A

subjecting each part of a given piece of work to close analysis to eliminate every unnecessary element or operation

213
Q

middle office

A

staff who do not interact directly with customers but are involved in making business decisions.

214
Q

management information system (MIS)

A

methods of using technology to help organizations better manage people and make decisions. The five primary components 1. hardware. 2. software. 3. data 4. procedures 5. people.

215
Q

nester

A

consumer who is not influenced by advertising hype but prefers value for money and traditional products.

216
Q

net asset value

A

the value of a company’s stock assessed by subtracting any liabilities from the market value.

217
Q

net asset value per share

A

the value of a company’s stock assessed by subtracting any liabilities from the market value and dividing the remainder by the number of shares of stock issued.

218
Q

net investment

A

an increase in the total capital invested. It is calculated as gross capital invested less an estimated figure for capital consumption or depreciation.

219
Q

net present value (NPV)

A

the difference between the present value of cash inflows and the present value of cash outflows. It is used in capital budgeting to analyze the profitability of an investment or project.

220
Q

net price

A

the price paid for goods or services after all relevant discounts have been deducted

221
Q

network management

A

top level administration and maintenance of large networks

222
Q

network marketing

A

the selling of goods or services through a network of self-employed agents or representatives. Usually involves several levels of agents

223
Q

network organization

A

where long term corporate partners supply goods and services to and through a central hub firm. Together a network of small companies can present the appearance of a large corporation.

224
Q

Obsolescence

A

the decline of products in a market due to the introduction of better competitor products or rapid technology developments. Can be a planned process

225
Q

offshoring

A

the relocation by a company of a business process from one country to another- typically an operational process

226
Q

oligarchy

A

an organization in which a small group of managers exercises control. Within this

227
Q

operating cost

A

expenses associated with administering a business on a day to day basis. Includes both fixed costs and variable costs. Fixed costs

228
Q

opportunity cost

A

the cost of passing up the next best choice when making a decision.

229
Q

overall rate of return

A

the aggregate of all the dividends received over an investment’s life together with its capital gain or loss at the date of its realization

230
Q

Panel Study

A

study that provides longitudinal data on a group of people

231
Q

Payout Ratio

A

also known as dividend payout ratio

232
Q

P/E

A

the price of a security per share at a given time divided by its annual earnings per share.

233
Q

Helps determine a security;s stock valuation

A

that is

234
Q

personal brand

A

the public expression and projection of a person’s identity

235
Q

PEST analysis

A

Systems that should be considered when planning a business as these van have impacts on business success or failure. Political

236
Q

Price differentiation

A

pricing strategy in which a company sells the same product at different prices in different markets.

237
Q

price learning ratio

A

a pricing strategy in which a company sells the same product at different prices in different markets.

238
Q

price to books ratio

A

the ratio of the value of all of a company’s stock to its book value.

239
Q

primary data

A

is original research conducted by you to collect data specifically for your current objective.

240
Q

product abandonment

A

the ending of the manufacture and sale of a product. Products are abandoned for many reasons. The market may be saturated or declining

241
Q

product concept

A

the notion that the integrity of the product supersedes all other considerations and that quality alone determines the fate of the product. Therefore no substantive marketing effort is required. A limit is people may not even realize it exists much less evaluate it for purpose.

242
Q

Product Life Cycle

A

Introduction Stage- most expensive. Size of market is small. Sales are low but increasing (hopefully). Cost of R&D

243
Q

Growth Stage- Strong growth in sales and profits. Company can start to benefit from economies of scale in production

A

the profit margins

244
Q

product mix

A

number of products company offers. similar or different. 4 dimensions width

245
Q

profit margin

A

net income divided by revenues or net profits divided by sales. measures how much out of every dollar of sales a company actually keeps in earnings. A higher profit margin indicates a more profitable company that has better control over its costs compared to its competitors.

246
Q

pro forma

A

a projection showing a business’s likely financial statements after the completion of a planned transaction.

247
Q

prospect theory

A

individuals make decisions that deviate from rational decision making by examining how the expected outcomes of alternative choices are perceived. Theory is based on the premise that people treat risks associated with perceived losses differently from risks associated with perceived gains.

248
Q

pull system

A

in manufacturing: production is based on actual daily demand (sales) and where information flows from market to management in a direction opposite to that in traditional (push) systems.

249
Q

in marketing

A

a pull strategy involved motivating customers to seek out your brand in an active process.

250
Q

push and pull strategy

A

promotional strategies to get product or service to market roughly divided into two separate camsp

251
Q

push system

A

promotional strategy that involves taking the product directly to the customer whatever means to make then aware of your brand at the point of purchase

252
Q

qualitative research

A

Generally successful with short-term predictions where the scope of the forecast is limited. Can be thought of as expert driven

253
Q

quantitative research

A

used with historical data is available. Two major categories: Time series or causal methods.

254
Q

ratio of net income after taxes to average owner’s equity

A

net income divided by average owners equity

255
Q

rebadge

A

when one company buys a product or service from another company and sells it as part of their own product range.

256
Q

repositioning

A

a marketing strategy that changes aspects of a product or brand in order to change market position and alter consumer perceptions

257
Q

return on investments (ROI)

A

the percentage return on a particular investment

258
Q

sampling

A

process of selecting units from a population of interest so that by studying the sample we may fairly generalize the results back to the population from which they were chosen.

259
Q

us securities and exchange commission (SEC)

A

agency established to protect investors. To maintain fair

260
Q

secondary data

A

involves searching for existing data that was originally collected by someone else. Cheaper than primary data.

261
Q

Selling concept

A

is predicated upon the notion that consumers will not make purchases in the absence of strong selling and promotional efforts.

262
Q

selling cost variance

A

the difference in expected revenue and actual revenue when the price of a unit changes.

263
Q

semi variable costs

A

the amount of money paid to produce a product

264
Q

shareholder

A

one who owns shares of stock in a corporation or mutual fund. With it comes a right to declared dividends and the right to vote on certain company matters

265
Q

stocks

A

common: carries the right to vote for the directors of the firm

266
Q

preferred: has a claim on the firm’s earnings before dividends may be paid on common stock and that has a prior claim on the corporation’s assets in the event of liquidation. However

A

has no voting rights.

267
Q

STEEPLE analysis

A

expanded from pest analysis. These systems should be considered when planning business as these can have impacts on business success or failure. Social

268
Q

Stress test

A

a risk management tool that helps to identify how vulnerable a business

269
Q

Supply Chain Management

A

The oversight of materials

270
Q

Survey

A

The collection of data from a given population for the purpose of analysis of a particular issue. Data is often collected from only a sample of a population

271
Q

sustainable advantage

A

a competitive advantage that can be maintained over the long term

272
Q

SWOT analysis

A

Identify Strengths

273
Q

tertiary industry

A

segment of the economy that provides services to its consumers. Financial institutions

274
Q

terotechnology

A

a multidisciplinary technique that combines the areas of management

275
Q

Theory of constraints

A

a management paradigm that views any manageable system as being limited in achieving more of its goals by a very small number of constraints. This is always at least one constraint. The underlying premise of theory of constraints is that organizations can be measured and controlled by variations of three measures: throughput

276
Q

Throughput in theory of constraints

A

rate at which system generates money through sales

277
Q

Inventory in theory of constraints

A

all the money that the system has invested in purchasing things which it intends to sell.

278
Q

Operational Expenses in theory of constraints

A

all the money the system spends in order to turn inventory into throughput.

279
Q

Theory X

A

represents a negative view of human nature that assumes individuals generally dislike work

280
Q

Theory Y

A

Denotes a positive view of human nature and assumes individuals are generally industrious

281
Q

Theta

A

a measure of the rate of decline in the value of an option due to the passage of time. Can also be referred to as the time decay on the value of an option. If everything is held constant

282
Q

Top Down Approach

A

An autocratic style of leadership in which strategies and solutions are identified by senior management and then cascaded down through an organization. Can be considered a feature of large bureaucracies. Has been criticized for being out of date style that leads to stagnation and business failure.

283
Q

total return

A

one more way to evaluate investment decisions

284
Q

treasury bond

A

a bond issued by the US govt that bears fixed interest

285
Q

turnaround management

A

uses analysis and planning to save troubled companies and returns them to solvency. Involves management review

286
Q

value added

A

the enhancement added to a product or service by a company before the product is offered to customers

287
Q

value analysis

A

a cost reduction and problem solving technique that analyzes an existing product or service in order to reduce or eliminate any costs that do not contribute to value or performance.

288
Q

Usually focuses on design issues relating to the function of a product or service

A

looking at the properties that make it work

289
Q

Value Chain

A

sequence of business functions in which customer usefulness is added to products. The general 6 primary functions are research and development

290
Q

Primary activities of value chain

A

directly concerned with the production or delivery of certain products or services.

291
Q

support activities

A

help to support the efficiency and effectiveness of primary activities.

292
Q

value-in-use analysis

A

in purchasing the examination of each procurement item to ascertain its total cost of acquisition

293
Q

variable costs

A

cost of labor

294
Q

vertical integration

A

The process in which several steps in the production and/or distribution of a product or service are controlled by a single company or entity

295
Q

work sampling

A

the statistical technique for determining the proportion of time spent by workers in various defined categories of activity

296
Q

world trade organization (WTO)

A

an international organization set up with the goal of reducing restriction in trade between countries.

297
Q

Write-down value

A

the value of an asset after accounting for depreciation or amortization. Also called book value or net book value.

298
Q

Yield

A

the income return on an investment. The interest or dividend received from a security and is usually expressed annually as a percentage based on the investment’s costs

299
Q

zero-budgeting

A

method where cash flow budgets and operating plans each fiscal period must start from scratch with no pre-authorized funds. Total income minus total expenses should be zero. Forces the company to assign every dollar of income to an expense.

MBA (1 decks)

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