Business & Management Lecture Review

Vocabulary flashcards covering key terms and definitions from the Business & Management lecture notes, spanning economics, finance, technology management, project management, and legal frameworks.

True

Technology Management is the integrated planning, design, optimization, operation, and control of technological products, processes, and services.

True
False

False

If a company is registered on the basis of fictitious names, its incorporation is valid.
True
False

Online Construction Safety and Health Program submissions

Employment law except

Pending Comprehensive Anti-Discrimination Act
Fair wage and benefit enforcement
Online Construction Safety and Health Program submissions
Anti-Harassment and gender sensitivity training

Onboarding

Integrating new employees into a company's culture and operations.
Onboarding
Employee Relations
Recruitment and Selection
Rewards and Recognition

True

A traditional approach in implementing reward systems is to reward employees based on how they do their work.
True
False

True

It is necessary to get every company incorporated, whether private or public.
True
False

True

A provision is an amount charged as an expense, while a reserve is an appropriation of profit for a specific purpose.
True
False

Development management

It is defined as the strategic planning, administration, and controlling of a project throughout its development lifecycle, from initial planning through construction completion and project exit.
Pre-Construction
Monitoring
Project implementation
Development management

Building Information Modeling (BIM)

Essential tool that allows to create detailed digital models of structures. Enabling to visualize, analyze and optimize buildinge designs before construction.
Building Information Modeling (BIM)
3D Printing
Virtual Reality (VR) and Augmented Reality (AR)
Digital Fabrication

The value of a country's total output of goods and services over a period of time, normally one year.

GDP is...

The value of a country's tax revenue over a period of time, normally one year.
The value of a country's total output of goods and services over a period of time, normally one year.
The value of a country's total input (factors of produc-tion) over a period of time, normally one year.
The change in prices of goods and services over time, usually over one year.

All of the above

How does the economy affect your personal financial success?
The government can change how much you need in terms of retirement
Interest rates can rise which affects payments
The government can change how much taxes they will levy
All of the above

The combination of microeconomic and macroeconomic factors that influence the how a business operates and its success or failure

Which of the following is the best explanation of the economic environment of business?

The general economy
The national economy
Macroeconomic factors affecting a business
The combination of microeconomic and macroeconomic factors that influence the how a business operates and its success or failure

A rise in production costs passed on to consumers

What causes cost push inflation?
An increase in demand for goods and services
A rise in production costs passed on to consumers
An increase in supply
A fall in the price of imports

Make you more aware that financial decisions and actions are closely linked with social and ethical dimensions

Being financially competent will

Make you more aware that financial decisions and actions are closely linked with social and ethical dimensions
Teach you how to change the economy
Allow you to make more money
None of these

Short-term

Lisa will buy 2 new car tires three months from now before taking a trip. Each tire costs $75. How long will she need to plan to achieve her goal?

Long-term
Short-term
Intermediate-term
She won't be able to afford the tires

service

3. Something paid for that is intangible such as entertainment, healthcare, or education

inventory
product
service
real value

businesses decrease investment

When a recession is predicted in an economy

businesses decrease investment
businesses increasing hiring
consumers increase spending
all of the above

Maximize risk

The following are the impact of technology corporate strategy except

Improving supply chain management
Enabling Globalization
Maximize risk
Driving efficiency ang productivity

Business Operations

It refers to the daily activities and processes that architecture firms undertake to function effectively, increase their enterprise value, and generate profit.

Technology strategy
Business Operations
Systematic activities
Project management

Intense analytical

Technology management is designed to do the following except

Organizational leadership
Intense analytical
Creative
Detailed Long-term planning

Technology Strategy

It refers to a set of plans, decisions and actons to manage its technology resources and align them with its objectives

Leveraging
Streamline
Technology Strategy
Technological advancement

Organizational Leadership

It is a unique management style with a combination of leaders and managers skills and frameworks.
Management style
Organizational Leadership
Business goal
Motivation

All of the above

Which of the following are the main concept of managerial leader? Encourage Employee Productivity
Improve Company Moral
Promote a Healthy work relationship
All of the above

True

Decision-making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

True
False

True

Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services.

True
False

True

Making simple and good choices is one of your tasks as you grow older.

True
False

Specific, Measurable, Attainable, Realistic, Time Bound

What do the letters SMART stand for in goal setting process? Specific, Meaningful, Attainable, Reliable, Time Bound
Simple, Measurable, Accessible, Realistic, Time Bound
Specific, Measurable, Attainable, Realistic, Time Bound
Short, Measurable, Actual, Reasonable, Time Bound

Cash flow

Amount of money you have coming in, as well as the money you have going out

Income
Cash flow
Pay yourself first
Budget

Financial picture of what a business is worth at a particular point in time

What does the Balance Sheet show?

Financial picture of what a business is worth at a particular point in time
Financial strength of the firm
Profit and Loss over a period of time
Productivity of inventory

Debts or obligations of the company

What does Liabilities represent in the Balance Sheet?

Rights or interests of those that have invested in the company
Value of the company
Debts or obligations of the company
Money owed to suppliers

Resources owned by a company that can be expressed in monetary terms

What does Assets represent in the Balance Sheet?

Resources owned by a company that can be expressed in monetary terms
Money owed to suppliers
Debts or obligations of the company
Rights or interests of those that have invested in the company

Competitors

A company's goal in pursuing a cost- leadership strategy is to outperform by doing everything it can to produce goods or services at a cost lower than those competitors.

Businesses
Markets
Competitors
Market Leaders

Global Standardization Strategy

Identify which Basic Global Strategies are described: A strategy that focuses on increasing profitability by reaping the cost reductions derived from economies of scale and location economies.

Global Standardization Strategy
Transnational Strategy
Localization Strategy
International Strategy

Innovation

It is the process by which entrepreneurs convert opportunities into marketable ideas. It is a combination of the vision to create a good idea and the perseverance and dedication to remain with the concept through implementation.

Ideas
Successful
Diversified
Innovation

Macroeconomic Environment

The general environment within the economy that influences how all business groups operate, perform, make decisions, and formulate strategies
Business Environment
Microeconomic Environment
Macroeconomic Environment
Economic Cycle

Threats

These are factors that have the potential to harm an organization. For example, a drought is a threat to a wheatproducing company, as it may destroy or reduce the crop yield.

Strength
Weaknesses
Opportunity
Threats

Opportunity

These are favorable external factors that could give an organization a competitive advantage.
Strength
Weaknesses
Opportunity
Threats

False

Supply and Demand gives the market its most important tangible value, like businesses for their offers and consumers for their needs, after any transaction is even made.

True
False

False

Inflation is a sign of microeconomic imbalances. It often reduces economic growth and future growth prospects, thereby reducing the means of implementation available for achieving sustainable development goals.

True
False

False

"Corporate Planning is at the heart of every successful businesses"

True
False

False

A harmonious, peaceful and cooperative group is always a good thing.

True
False

Financial Planning

It refers to the process of formulation of goals, policies, procedures, programs and budget that refer to organization's financial activities.

Financial Transparency
Financial Accountability
Financial Planning
Financial Controls

A plan for saving and spending money

Which of the following best describes a budget?

A statement of your assets and liabilities
A set of restrictions on how to spend money
A financial tool for consumers with little money
A plan for saving and spending money

Microeconomic Environment

The environment which is in direct contact with the business organization, and can immediately influence the routine activities of the business

Business Environment
Microeconomic Environment
Macroeconomic Environment
Economic Cycle

Personal differences

Conflict arises from individual differences and personal values, both of which are formed from background, education, experience and training.

Previous differences
Principal differences
Structural differences
Personal differences

Minimum Wage

The lowest hourly rate an employer may legally pay most workers.
Tips
Minimum Wage
Salary
None of the above

Net Pay

What is the amount of money a person makes AFTER taxes called?

Net Pay
Gross Pay
Income All of the above

Discuss the resource allocation with the team member's functional manager

A project manager noticed that one team member is frequently absent from project team meetings. Instead of working on the current project, the team member has been working on a task assigned by their functional manager. What should the project manager do to resolve this issue?

Record the absences in the team member's performance appraisal.
Remove the team member from the project team due to their continued absences.
Discuss the resource allocation with the team member's functional manager.
Ask another team member for input regarding the is-sue.

Intellectual property law

Protection of digital assets such as text, content, audio, images through digital right is under the

Data protection and privacy law
Intellectual property law
Disability and discrimination law

It is controlled by a board of directors.

What is a key feature of a corporation?

It cannot issue stock.
It is owned by a single individual.
It offers unlimited liability to its owners.
It is controlled by a board of directors.

Copyright

The intellectual property rights retained by an architect over any architectural documents/work that he/she prepares unless there is a written stipulation to the contrary.

Copyright
Ownership
Authorship
Property

Digital Fabrication

Involves the use of CNC machines and robotic manufacturing techniques to produce building components and assemblies.

Generative Design
Mouldings
AR technologies
Digital Fabrication

Financial Reporting

Preparing and analyzing financial statements (like profit and loss statements, balance sheets, and cashflow statements) provides insights into the company's financial health.

Raising Capital
Financial Reporting
Investing
Cash flow

Presidential Decree No. 1096 (National BuildingCode of the Philippines)

. Presidential Decree that governs the design, construction, occupancy, and maintenance of buildings and structures to ensure public safety and welfare

Housing and Land UseRegulatory Board regulations(PD 957)
Fire Code (PD1185)
Presidential Decree No. 1096 (National BuildingCode of the Philippines)
Republic Act No. 9266 02(The Architecture Act of2004)

Personal Interest

The following are intellectual property rights except

Copyright
Trademark
Patent
Personal Interest

Manager

He is responsible for for planning, organizing, staffing, implementing, and controlling operations of a business.

CEO
CFO
Manager
Draftsman

Operations Manual

This contains all of the rules, policies, and procedures that a business should follow to function effectively.

Organizing
Operations Management
Management
Operations Manual

Built environment industry

It's a large, interdisciplinary field involving various professionals like architects, engineers, urban planners, and project managers.
Architecture industry
Mix use industry
Built environment industry
Engineering industry

Project turn-over

Pre-construction Phase except

Tendering and procurement
Permit acquisition
Contract Negotiation
Project turn-over

Procurement

It focuses on outsourcing materials, selecting suppliers and negotiating contracts

Planning & design
Procurement
Construction & quality control
Logistics and delivery

Continuous Professional Development

Staying updated on changes in laws, standards, and best practices helps minimize risks.

Professional Indemnity Insurance
Compliance with Laws
Clear Contractual Terms
Continuous Professional Development

R.A. 11285

Energy Efficiency and Conservation Act Electronic Commerce Act
R.A. 8792
R.A. 11285
R.A. 11313
OSHS 2025

Product design

Design thinking is used to develop systems for managing inventory, logistics, customer relationships, and other operational aspects. These systems ensure smooth execution and data-driven decision-making.

Feasibility and constraints
System design
Performance data
Product design

Post - construction and maintenance

Once construction is completed, final inspections are carried out before handing over the project to the client.

Post - construction and maintenance
Planning & design
Procurement
Logistic and delivery

Building codes and regulations influence architectural design decisions by dictating parameters that must be followed to ensure compliance with legal standards and ensure the safety and well-being of occupants.

How do building codes and regulations influence architectural design decisions?

Building codes and regulations influence architectural design decisions by dictating parameters that must be followed to ensure compliance with legal standards and ensure the safety and well-being of occupants.
Building codes and regulations only apply to certain types of buildings
Building codes and regulations have no impact on architectural design decisions
Architects can freely ignore building codes and regulations in their designs

Legal issues and financial losses

What is a significant risk associated with unethical practices in architecture?

Legal issues and financial losses
Greater community engagement
Increased client trust
Enhanced firm reputation