Management Decision Making

Front 1

accountability

Back 1

The obligation to accept responsibility for the outcomes of assigned tasks

Front 2

accounting equation

Back 2

assets=liabilities+capital

Front 3

accounting records

Back 3

financial records of the transactions of the business

Front 4

accounts payable

Back 4

money owed for credit purchases

Front 5

accounts payable record

Back 5

a record showing money owed and payments made by the business

Front 6

accounts receivable

Back 6

the amount owed by customers

Front 7

accounts receivable record

Back 7

a record showing what each customer owes and pays

Front 8

achievement need

Back 8

take personal reponsibility for work; set personal goals; want immediate feedback on work

Front 9

actuaries

Back 9

persons who calculate insurance rates

Front 10

administered channel

Back 10

a channel in which one organization takes a leadership position to benefit all channel members

Front 11

advertising

Back 11

all forms of paid promotion that deliver a message to many people at the same time

Front 12

advertising budget

Back 12

a plan of the amount of money a firm should spend for advertising based on estimated sales

Front 13

advertising media

Back 13

the methods of delivering the promotional message to the intended audience

Front 14

affiliation need

Back 14

concerned about relationships with others; work to get along well and fit in with a group

Front 15

applied research

Back 15

studies of existing product problems or design improvements for current products

Front 16

assessed valuation

Back 16

the value of property determined by tax officials

Front 17

asset book value

Back 17

original cost less accumulated depreciation of an asset

Front 18

assets

Back 18

things owned

Front 19

authority

Back 19

the right to make decisions about work assignments and to require other employees to perform assigned tasks

Front 20

autocratic leader

Back 20

one who gives direct, clear, and precise orders with detailed instructions as to what, when, and how work is to be done

Front 21

balance of payments

Back 21

an accounting statement containing the current account and the capital account

Front 22

balance sheet

Back 22

a financial statement that lists the assets, liabilities, and capital of a business

Front 23

bank discount

Back 23

interest deducted in advance from a loan

Front 24

bankruptcy

Back 24

a legal process that allows selling assets to pay off debts

Front 25

basic product

Back 25

the physical product in its simplest form

Front 26

beneficiaries

Back 26

persons who receive a life insurance payment on the death of an insured person

Front 27

board of directors

Back 27

ruling body of a corporation

Front 28

bond

Back 28

a long-term written promise to pay a definite sum of money at a specified time

Front 29

bonding

Back 29

provides payment of damages to people who have losses resulting from the negligence or dishonesty of an employee or from the failure of the business to complete a contract

Front 30

bonus

Back 30

money paid at the end of a specific period of time for performance that exceeds the expected standard

Front 31

book value

Back 31

the value of a share of stoc that is found by dividing the net worth (assets minus liabilities) of the corporation by the total number of shares outstanding

Front 32

brand

Back 32

a name, symbol, word, or design that identifies a product, service, or company

Front 33

bricks-and-mortar businesses

Back 33

businesses that complete most of their business activites at a physical location rather than through the internet

Front 34

budget

Back 34

a financial plan extending usually for one year

Front 35

building codes

Back 35

codes that regulate physical features of structures

Front 36

business cycles

Back 36

a pattern of irregular but repeated expansion and contraction of the GDP

Front 37

business plan

Back 37

1. a written description of the business and its operations with an analysis of the opportunites and risks it faces. 2. a written guide that helps the entrepreneur during the design and start-up phases of the business

Front 38

buying motives

Back 38

the reasons people buy

Front 39

cafeteria plan

Back 39

a benefit program in which employees can select the benefits that meet their personal needs

Front 40

capacity

Back 40

earning power

Front 41

capital account

Back 41

an account that records investment funds coming into and going out of a country

Front 42

capital budget

Back 42

a financial plan for replacing fixed assets or acquiring new ones

Front 43

capital formation

Back 43

the production of capital goods

Front 44

capital goods

Back 44

buildings, tools, machines, and other equipment that are used to produce other goods but do not directly satisfy human wants

Front 45

capital stock

Back 45

the general term applied to the shares of ownership of a corporation

Front 46

career centers

Back 46

facilities where career development activites are managed

Front 47

career development program

Back 47

provides a long term focus on a company's employment needs combined with support for employees so they can perpare for future jobs in the company

Front 48

career path

Back 48

a progression of related jobs with increasing skill requirements and responsibility

Front 49

career plan

Back 49

identifes the jobs that are a part of the employee's career path, the training and development needed to advance along the career path, and a tentative schedule for the plan's activities

Front 50

cash budget

Back 50

an estimate of cash received and paid out