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;
40 Cards in this Set
- Front
- Back
value chain
|
the set of activities that transforms raw materials into the goods and services end users purchase and consume.
|
|
Value added activities
|
those activities that customers perceive as adding utility to the goods or services they purchase
|
|
research and development activities
|
he creation and development of ideas related to new products, services, or processes
|
|
research and development costs
|
research personnel
patent applications laboratory facilities |
|
Design Activities
|
the detailed development and engineering of products services or processes
|
|
design costs
|
Design center
engineering facilities used to develop and test prototype |
|
Purchasing activities
|
the acquisition of goods or services used to produce a good or service.
|
|
purchasing costs
|
machines and equipment
Factory personnel |
|
Marketing and sales activities
|
the process of informing potential customers about attributes of products or services that leads to their sale.
|
|
Marketing and sales costs
|
Advertising
focus group travel product placement |
|
Distribution activities
|
the process for delivering products or services to customers
|
|
distribution costs
|
trucks
fuel web site creation, hosting, and maintenance |
|
Customer service activities
|
the support activities provided to a customer for a good or service
|
|
Customer service costs
|
call center personnel
returns processing warranty repairs |
|
supply chain
|
set of firms and individuals that sell goods and services to the firm
|
|
Distribution activities
|
the process for delivering products or services to customers
|
|
distribution costs
|
trucks
fuel web site creation, hosting, and maintenance |
|
Customer service activities
|
the support activities provided to a customer for a good or service
|
|
Customer service costs
|
call center personnel
returns processing warranty repairs |
|
supply chain
|
set of firms and individuals that sell goods and services to the firm
|
|
distribution chain
|
set of firms and individuals that buys goods and services from the firm
|
|
financial accounting
|
field of accounting that reports financial position and income according to accounting rules.
|
|
cost accounting
|
field of account that measures, records and reports information about costs
|
|
non value added activities
|
activities that do not add value from the customers perspective
|
|
cost benefit analysis
|
the process of comparing costs and benefits (generally savings or increased income) of a proposed change within an organization
|
|
cost drivers
|
factors that drive of cause costs
|
|
differential costs
|
costs that change as a result of a particular course of action
|
|
differential revenue
|
revenue that change as a result of a particular course of action
|
|
responsibility center
|
A specific unit of a company that is assigned to a manger that is in charge of its operations and resources.
|
|
budget
|
financial plan of revenues and resources required to carry out activities and meet goals
|
|
activity based costing
|
costing method that first assigns costs to activities and then assigns them to products based on the products consumption of activities
|
|
performance measures
|
metric that indicates how well an individual, business unit, product or firm is working
|
|
benchmarking
|
continually measuring a companies own products, services and activities against its competitors' performance.
|
|
just in time(JIT)
|
in production or purchasing units are produced or purchased just in time for its use
|
|
lean accounting
|
a cost accounting system that provides measures at the working cell or process level and minimizes wasteful or unnecessary transaction processes
|
|
customer relationship management
|
system that allows firms to target profitable customer by assessing customer revenue and costs
|
|
outsourcing
|
having one or more of the firms activities performed by another firm or individual in the supply or distribution chain
|
|
total quality management
|
management method by which the organization seeks to excel on all dimensions with the customer ultimately defining quality
|
|
cost of quality
|
system that identifies the costs of producing low quality items, including rework, returns, and lost sales
|
|
enterprise resource planning
|
information technology that links the various processes of the enterprise into a single comprehensive information system
|