Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
52 Cards in this Set
- Front
- Back
|
Discount Rate
|
The rate the US Federal Reserve loans money to their member banks.
Lower rate than banks loan to people, Best Rate= Prime Rate |
|
|
Covey Prioritization Matrix
|
-Management is located in the Not important/urgent box
-Leadership is located in the Important/ Not Urgent box. |
|
|
Gross Domestic Product
|
Annual value of goods and services produced within a countries boarders
|
|
|
Venture Capital Firm
|
Provide funds of a portion of the firm’s ownership in return
|
|
|
Mediation
|
trying to get a contract, and isn’t working, it is non-binding
|
|
|
Arbitration
|
is binding way to get contract
|
|
|
Hawthorne Study
|
proved productivity as employees felt appreciated
|
|
|
Information & Knowledge
|
have replaced processes and resources as the source of competitive advantage
|
|
|
Line of Credit
|
predetermined amount of money a bank will loan a company
|
|
|
Bond Rating
|
C and D are the worst, AAA is the best
Major Bond rating services are: 1) Standard and Poor's 2) Moody's 3) Fitch *Safter the bond=Lower interest rate* |
|
|
Leading Economic Indicators
|
Used to predict economic conditions 8-9 months in the future:
-Average Workweek, Unemployment Claims, New Goods Orders, Delivery Times, Building Permits, Stock Prices, Money Supply, p.9 |
|
|
Capitalism
|
what united states has
|
|
|
Socialism
|
a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
|
|
|
Communism
|
Govt owns all buisness's
|
|
|
Information Technology
|
is the processing and management of information
|
|
|
Supply and Demand
|
Suggests that as prices go down, consumer will buy more and as prices go up, consumer will buy less.
Inversely Related |
|
|
Equilibrium Pricing
|
Point at which quantity supplied and quantity demanded are equal, most profit here
|
|
|
Dividend
|
Payments to stockholders, usually from profits
|
|
|
Scientific Management
|
time studies, fast rates, wages tied to getting workout
|
|
|
Inflation
|
Effects GDP, RDP is adjusted for inflation, you want it to go up moderatly
|
|
|
Forms of Business Ownership
|
Sole Proprietorship, Partnerships, Limited Liability, Corporations
|
|
|
Sole Proprietorship
|
Good: easy to start, personal tax rate
Bad: All debts are yours, high failure rate, tough to hire top talent |
|
|
Partnerships
|
Good: easy to start, personal tax rate
Bad: Liable for all debts, Arguments b/w partners |
|
|
LL
|
Protection of corporation and tax advantages of sole proprietorship
|
|
|
Corporations
|
Good: Tax deductible, ease of transferring ownership
Bad: double taxation, personal and corporate |
|
|
Corporations Types
|
Public, Privite, "S"
|
|
|
Short Term Business Actions vs Long Term Business Actions
|
Long term as a strengthing effect on economy, short term doesn't
|
|
|
Mandatory Bargaining Topics
|
Wages, Hours, Benefits, and Working Conditions
|
|
|
Stages of Business Cycle
|
Prosperity, Recession, Depression, Recovery
|
|
|
ERP
|
it gets the same data throughout the company
|
|
|
Labor Impasse
|
Unions can:
slowdown, walkout, picketing, boycott, media/public sympathy, strike Management can: "Tough Dealing", lockouts, injunctions, strike breakers, use of offshore capability |
|
|
Types of Unions
|
Closed Shop- Company can only hire people who are members of the union (illegal!)
Union Shop- Workers hired into the company must join the union Agency Shop- Workers dont have to be members but they must pay dues |
|
|
Stocks
|
Units of ownership in a corporation
Types: Common- most popular, voting rights Preferred- no voting rights, prices are more stable than common |
|
|
Bonds
|
Debt of a corporation, Bond holders are creditors, long term
|
|
|
Productivity Measures
|
gives you more options
|
|
|
Balance of Trade
|
measures the difference between the value of a nations exports and imports
|
|
|
Balance of Payment
|
an accounting statement of all of a country's international transactions for a particular time period
|
|
|
Business Failure
|
1) Lack of funds 2) Poor Planning/ Market research
|
|
|
Communication Style
|
Directive, Manipulation, Alignment
|
|
|
Best type of communication
|
One on One
|
|
|
Niche
|
Small specialty business's focus on this
Find biggest opportunity not size of market Key to successful small business's |
|
|
Grievance Procedure
|
formal set of procedures for settling disputes that arise between management and the Union day-to-day operations
|
|
|
Capital Gain
|
profit that results from investments into a capital asset, such as stocks, bonds or real estate, which exceeds the purchase price
|
|
|
Market Capitalization
|
Stock value X # of shares outstanding
|
|
|
Strategic Planning
|
is usually done by top management and covers a 3-5 year time horizon
Examples: Increase market share, new products, expand markets, acquisitions, new service methods |
|
|
Tactical Planning
|
one to two year plans, by middle management that are consistent with the strategic plans
|
|
|
Operational Planning
|
yearly, monthly, hourly, daily plans…lower (front line) levels of management
|
|
|
SWOT Analysis
|
strengths, weaknesses, opportunities, and threats
good tool to get reality |
|
|
Economic System
|
the allocation of resources (i.e. land, natural resources, labor, capital)
|
|
|
Theory X
|
Lazy, Need to be motivated, Repeat the past, do not care, get though day
|
|
|
Theory Y
|
Self starting, will motivate themselves, creative/innovative change
|
|
|
Small Business Administration (SBA)
|
1) Financial Assistance
-Loans, 99% Guaranteed - 750,000 MAX (Private), 150,000(Direct) 2) Government Procurement - Set aside portion for consumer - Only small business and even further small minority 3) Training and Consulting 4) Lobbying for small business |
