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;
23 Cards in this Set
- Front
- Back
|
Business Process
|
A series of steps that are followed to carry out some task in a business.
|
|
|
Chief Financial Officer (CFO)
|
The member of the top management team who is responsible for providing timely and relevant data to support planning and control activities and for preparing financial statements for external users.
|
|
|
Constraint
|
Anything that prevents an organization or individual from getting more of what it wants.
|
|
|
Controller
|
The controller reports to the CFO but does the same thing.
|
|
|
Corporate Governance
|
The system by which a company is directed and controlled. Should motivate the company in a positive direction.
|
|
|
Corporate Social Responsibility
|
A concept whereby organization consider the needs of all stakeholder when making decisions.
|
|
|
Decentralization
|
The delegation of decision-making authority throughout an organization by providing managers with the authority to make decisions relating to their area of responsibility.
|
|
|
Enterprise Risk Management
|
A process used by a company to help identify the risks that it faces and to develop responses to those risks that enable the company to be reasonably assured of meeting its goals.
|
|
|
Finished Goods
|
Units of product that have been completed but have not yet been sold to customers.
|
|
|
Just-In-Time
|
A production and inventory control system in which materials are purchased and units are produced only as needed to meet actual customer demand.
|
|
|
Lean Thinking Model
|
A five-step management approach that organizes resources around teh flow of business processes and that pulls units through these processes in response to customer orders.
|
|
|
Line
|
A position in an organization that is directly related to the achievement of the organization's basic objectives.
|
|
|
Non-Value-Added activities
|
Activities that consume resources but do not add value for which customers are willing to pay.
|
|
|
Organization Chart
|
A diagram of a company's organizational structure that depicts formal lines of reporting, communication, and responsibility between managers.
|
|
|
Raw Materials
|
Materials that are used to make a product.
|
|
|
Sarbanes-Oxley Act of 2002
|
Legislation enacted to protect the interests of stockholders who invest in publicly traded companies by improving the reliability and accuracy of the discourses provided to them.
|
|
|
Six Sigma
|
A method that relies on customer feedback and objective data gathering and analysis techniques to drive process improvement
|
|
|
Staff
|
A position in an organization that is only indirectly related to the achievement of the organization's basic objectives.
|
|
|
Strategy
|
A "game plan" that enables a company to attract customers by distinguishing itself from competitors.
|
|
|
Supply chain management
|
A management approach that coordinates business processes across companies to better serve end consumers.
|
|
|
Theory of Constraints (TOC)
|
A management approach that emphasizes the importance of managing constraints.
|
|
|
Value chain
|
The major business functions that add value to a company's products and servies such as research and development, product design, manufacturing, marketing, distribution, and customer service.
|
|
|
Work in process
|
Units of product that are only partially complete and will require further work before they are ready for sale to a customer.
|
