Comprehensive Overview of DECA Performance Indicators

A comprehensive set of vocabulary flashcards covering core DECA performance indicators across business law, communication, customer relations, economics, entrepreneurship, finance, HR, information management, marketing, operations, professional development, and strategic management.

Judicial System (U.S.)

Network of federal and state courts that interprets, applies, and administers U.S. laws.

Government–Business Relationship

Government protects property and enforces contracts while regulating and taxing business activities.

Unfair Labor Practice

Employer or union action that violates the National Labor Relations Act (e.g., discrimination, coercion).

OSHA

Occupational Safety and Health Administration; enforces federal workplace health-and-safety standards.

Legal Procedure

Rules a court follows to hear and decide civil, criminal, or administrative cases.

Settlement

Mutual agreement that resolves a legal dispute, often considering injury extent, costs, and publicity.

Tort

Civil wrongdoing causing harm (e.g., fraud, defamation) that can lead to a lawsuit.

EEOC

Equal Employment Opportunity Commission; enforces federal laws against workplace discrimination.

Legally Binding Contract

Enforceable agreement requiring offer, acceptance, consideration, legality, and capacity.

Negotiation

Process of resolving conflict through discussion, active listening, and compromise.

Arbitration

Less-formal trial where neutral third party renders a binding decision.

Mediation

Facilitated negotiation where a neutral third party helps parties reach a voluntary agreement.

Sole Proprietorship

Business owned and operated by one individual.

Partnership

Business owned by two or more people sharing profits and liabilities.

Corporation

Legal entity owned by shareholders and operated by a board of directors.

Patent

Government grant giving exclusive rights to an invention for a set period.

Trademark

Word, symbol, or design that identifies and distinguishes a good or service.

Copyright

Legal protection for original works of authorship like books, music, and art.

Trade Secret

Confidential business information that provides a competitive edge.

Warranty

Seller’s promise that a product will meet certain quality and performance standards.

Guarantee

Marketing promise assuring customer satisfaction or refund/replacement.

Administrative Law

Rules and regulations created by government agencies and the procedures for enforcing them.

Customs Duty

Tax imposed on goods when transported across international borders.

Debtor–Creditor Relationship

Legal relationship where one party (debtor) owes money to another (creditor).

Effective Listening

Facing speaker, maintaining eye contact, withholding judgment, and giving feedback.

KISS Principle

Communication guideline: Keep It Short and Simple.

Channel of Communication

Medium chosen to transmit a message (e-mail, phone, meeting, social media).

Customer-Service Mindset

Belief that customers are paramount and service is an investment, not a cost.

CRM (Customer Relationship Management)

Strategies and software used to acquire, maintain, and analyze customer interactions and data.

Moments of Truth

Any customer contact point that forms an impression of the company.

Brand Promise

Value or experience customers can consistently expect from a company.

Economic System – Market

System where consumer choices determine production and pricing; minimal government control.

Profit

Revenue minus expenses; financial reward for business risk taking.

Competition

Rivalry among businesses to attract customers’ dollars by offering better value.

Productivity

Output per unit of input, often measured as output per worker per hour.

Supply and Demand

Economic model explaining price determination through availability (supply) and desire backed by purchasing power (demand).

Utility (Economic)

Ability of a good or service to satisfy consumer wants (form, place, time, possession).

Risk (Business)

Possibility of loss or failure; can be human, natural, or economic.

Cost/Benefit Analysis

Decision tool comparing the advantages and expenses of an action.

Business Ethics

Moral principles guiding business conduct and stakeholder relationships.

Entrepreneurship

Process of recognizing opportunities, taking risks, and organizing resources to create value.

Business Plan

Written document outlining venture goals, strategies, financials, and market analysis.

Seed Capital

Initial funding used to start a new business or product concept.

Harvest Strategy

Entrepreneur’s plan for exiting a business and realizing investment gains (e.g., IPO, sale).

Balance Sheet

Financial statement listing assets, liabilities, and owners’ equity at a specific date.

Income Statement

Report showing revenues, expenses, and profit (or loss) over a time period.

Cash Flow

Movement of money into and out of a business (operating, investing, financing).

Time Value of Money

Concept that money available now is worth more than the same amount later due to earning potential.

Credit

Ability of a customer or business to obtain goods or money with promise to repay later.

Accounts Payable

Amounts a business owes to suppliers; a current liability.

FIFO

Inventory valuation method: First-In, First-Out assumes oldest items are sold first.

LIFO

Inventory valuation method: Last-In, First-Out assumes newest items are sold first.

Human Resources Management (HRM)

Function that recruits, trains, compensates, and manages an organization’s employees.

Succession Planning

Process of identifying and developing employees to fill key leadership positions.

Employee Engagement

Emotional commitment employees have to the organization and its goals.

Learning Management System (LMS)

Software platform for delivering, tracking, and managing employee training.

Flexible Work Arrangement

Alternative schedules or locations (e.g., flextime, telework) to meet employee and business needs.

Executive Compensation

Financial and non-financial rewards provided to top corporate officers.

Information Management

Collecting, storing, and analyzing data to support business decision making.

Marketing Research

Systematic gathering and analysis of data to solve marketing problems and seize opportunities.

Omni-Channel Retailing

Integrated sales approach that provides a seamless customer experience across all channels.

Unique Selling Proposition (USP)

Distinct benefit that sets a product apart from competitors in customers’ minds.

Merchandising

Planning and presentation of product mix to maximize sales and profitability.

Point-of-Purchase Display

In-store presentation designed to spur impulse buying at or near checkout.

Project Management

Applying knowledge and skills to initiate, plan, execute, monitor, and close a temporary endeavor.

Shrinkage

Retail inventory loss from theft, error, or fraud.

Emergency Response Plan

Procedures a business follows to protect people and property during crises.

Professional Development

Ongoing education and training that enhance an individual’s skills and career growth.

Innovation Skills

Abilities related to creative thinking, problem solving, and implementing new ideas.

Strategic Management

Coordinated planning and execution to achieve long-term organizational objectives.

SWOT Analysis

Assessment of internal Strengths and Weaknesses and external Opportunities and Threats.

Environmental Scan

Systematic review of external forces that could impact an organization’s performance.

Risk Transfer

Shifting financial consequences of risk to another party, often via insurance.

Corporate Social Responsibility (CSR)

Company’s commitment to operate ethically and contribute to economic development while improving quality of life for stakeholders.

Market Segmentation

Dividing a broad market into subsets of consumers with common needs or characteristics.

Target Marketing

Focusing marketing efforts on specific market segments most likely to buy.

Promotional Mix

Combination of advertising, personal selling, sales promotion, public relations, and direct marketing used to reach goals.

Digital Marketing

Promoting products or brands via electronic media such as social networks, e-mail, and websites.

Return on Investment (ROI)

Profitability ratio showing the return relative to investment cost.

Ethical Work Habits

Behaviors such as honesty, respect, confidentiality, and fairness in the workplace.

Cultural Sensitivity

Awareness and respectful adaptation to cultural differences in business interactions.

Active Listening

Focused, engaged listening that shows understanding through feedback and questions.

Division of Labor

Specialization of tasks to increase efficiency in production.

Operating Costs

Recurring expenses required to run a business, including fixed overhead and variable costs.

Liquidity

Ease with which an asset can be converted to cash without loss of value.

IPO (Initial Public Offering)

First sale of a company’s stock to the public, raising equity capital.

Corporate Blogging

Business use of blogs to increase online visibility and engage audiences.

Ad Blocking

Technology or software that prevents digital ads from displaying to users.

Data Mining

Analyzing large datasets to discover patterns and useful information.

Vendor File

Database containing key information about a company’s suppliers.

Payroll Register

Record summarizing employees’ gross pay, deductions, and net pay for a pay period.

FICA Tax

U.S. payroll tax that funds Social Security and Medicare programs.

Collections System

Processes a business uses to receive payments from customers.

Lean Operations

Management philosophy focused on eliminating waste and maximizing value.

Service Orientation

Organizational focus on delivering excellent service to meet customer needs.

Chain of Command

Formal line of authority within an organization, showing who reports to whom.

Conflict Resolution

Methods used to resolve disagreements and maintain productive relationships.

Product Positioning

Creating a distinct image of a product in the minds of target consumers.

Interactive TV

Television technology allowing viewers to interact with programming and advertising.

Balanced Scorecard

Strategic management tool that tracks performance from financial, customer, internal, and learning perspectives.