a contractual agreement between a parent company and a franchisee to distribute goods and services
New cards
2
Corporation
a form of business ownership that is owned by stockholders who have purchased units or shares of the company
New cards
3
Elastic Demand
demand that changes according to changes in price
New cards
4
Inelastic Demand
demand that is not affected by changes in price.
New cards
5
Unitary Demand
when sales remain the same because changes in supply and demand are equal
New cards
6
Tort
a private wrongdoing that potentially harms another person or entity
New cards
7
Doctrine of Sovereign Immunity
the universally accepted principle that each nation has the right to manage its own government and develop its own laws.
New cards
8
Job Enlargement
combining different tasks into one position
New cards
9
Job Rotation
moving from one job to another job within an organization
New cards
10
Specialization by Trade
the type of work that a person performs in order to earn a living, such as engineering, public-relations, or accounting.
New cards
11
Frictional Unemployment
occurs because there are always workers who are in transition
New cards
12
Structural Unemployment
when the demand for certain types of workers declines and is often due to technology advancements and the need for new skills
New cards
13
Cyclical Employment
result of changes in the economic and business cycles
New cards
14
Wage Garnishments
court-ordered initiatives that involve taking income taken from an employee's salary and submitting it to another person or organization
New cards
15
Embezzlement
theft of valuables that have been entrusted to another's care
New cards
16
Securities Fraud
the use of misleading sales tactics to persuade investors to purchase securities
New cards
17
Espionage
revealing confidential information without the source or owner's permission and is often associated with spying
New cards
18
Variety-seeking Buying Behavior
involves the purchase of routine items
New cards
19
Brand-insistence Buying Behavior
buyer will not buy anything other than a specific brand or product
New cards
20
Automation
involves the use of machines to carry out production tasks
New cards
21
Ergonomics
the study of the use of equipment or technology and its effects on workers' physical well-being
New cards
22
Innovation
taking action to make the idea, item, or process available for consumers to use
New cards
23
Business-format Franchise
involves a close,continuous, working relationship between the franchisor and the franchisee
New cards
24
Customer Complaints
related to the business's policies and procedures
New cards
25
Consumer Products
economic goods and services that are purchased and used by the ultimate consumer
New cards
26
Capital Products
purchased by businesses for use in their operations
New cards
27
Communist Command Economy
capital for business investment is provided by the government, which obtains it by taking the profits of businesses it owns and by levying taxes
New cards
28
Traditional Economy
people produce only what they must have in order to exist
New cards
29
Market Economy (Free Enterprise)
means of production and distribution are owned and controlled by individuals and businesses
New cards
30
Operating Expenses
costs of running the business
New cards
31
Gross Domestic Product
final market value of the total output of all goods and services produced within a country's geographic boundaries during a year's time
New cards
32
Federal Reserve Banks
used by local banks to protect their banking functions; do not provide protection for local property
New cards
33
Tact
the ability to express your ideas and opinions so that they do not hurt or offend others
New cards
34
Cultural Imperialism
cultural aspects referring to the creation and maintenance of unequal relationships between civilizations favoring the more powerful civilization.
New cards
35
Nationalization
something whose ownership is taken over by the government
New cards
36
Credit
the arrangement in which businesses and individuals can purchase now and pay later.
New cards
37
Defamation
a tort that involves harm to an individual's or business's reputation
New cards
38
Monetary Gift
given without expectations of repayment
New cards
39
Punitive Damages
damages intended to reform or deter the defendant and others from engaging in conduct similar to that which formed the basis of the lawsuit
New cards
40
Contraction
businesses are affected by external factors; businesses often experience lower sales and profits
New cards
41
Business Cycle
the periods of expansion and contraction in economic conditions
New cards
42
Expansion
when the economy is strong and growing; businesses tend to make profits, expand operations, and hire more employees
New cards
43
Transitional Economic System
when a country's economic system is moving from one type of economic system to another type of economic system
New cards
44
Secondary Dimensions of Diversity
differences that may change at various points throughout one's lifetime
New cards
45
Primary Dimensions of Diversity
inborn differences that cannot be changed and affect a person's entire life
New cards
46
Debit Card
funds are electronically transferred from the cardholder's checking or savings account to the seller's account
New cards
47
Corporate Bonds
bonds issued by corporations to fund operating expenses
New cards
48
Brokerage Bills
a fee charged by an agent, or agent's company to facilitate transactions between buyers and sellers
New cards
49
Gross Pay
total income earned for the pay period before income taxes and other deductions are subtracted from the wages
New cards
50
Net Pay
the amount of money that the worker receives after the taxes and other deductions have been subtracted from his/her wages
New cards
51
Overtime Income
the amount of money that an hourly worker earns for working more hours than s/he is normally scheduled to work
New cards
52
General Endorsement
allows the endorser to cash the check or deposit it into the account of his/her choice
New cards
53
Capital Gains
taxes on earnings from the appreciation of an investment
New cards
54
Rebate
a part of the price that a customer pays for a good or service, which is usually offered by the product's manufacturer
New cards
55
Stop Words
commonly used words that do not always add meaning to the primary search terms
New cards
56
Logistics
the function of operations that manages the flow of goods and services from production to consumption
New cards
57
Malware
an illegal computer program that is used to disrupt computer processes, destroy computer programs, and access confidential business information
New cards
58
Shareware
type of computer program in which computer users can sign up for the software on a trial basis. After the trial expires, the computer user can purchase and register the program, if desired
New cards
59
Position Innovation
when an existing product is repositioned
New cards
60
Process Innovation
changing the way that a product is produced or delivered
New cards
61
Distributed Innovation
a decentralized model used for problem solving
New cards
62
Conceptual Skills
ability to see the "big picture" and think about how things will work together
New cards
63
Moderate Input
decision maker asks for some help before deciding
New cards
64
Payroll Records
information about money paid to employees in a given period
New cards
65
Web Ring
a series of linked web pages that share a common theme.
New cards
66
Channel Management
responsible for identifying, selecting, monitoring, and evaluating sales channels
New cards
67
Channels of Distribution
sales channels
New cards
68
Product/Service Management
obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities
New cards
69
Promotion
communicate information about goods, services, images, and/or ideas to achieve a desired outcome
New cards
70
Rolling Budget
continuous budget
New cards
71
Zero-Based Budgeting
requires managers to demonstrate the need for every expense instead of relying on figures from a previous period
New cards
72
Working Capital
the difference between a business's current assets and current liabilities
New cards
73
Capital Investment Decisions
which projects the business will invest in, how the investment(s) will be financed, and whether or not to pay dividends to the company's shareholders
New cards
74
Capital Structure
mix of debt and equity financing used to finance investments and projects
New cards
75
Market Risk
risk of financial loss due to the decreased value of an investment
New cards
76
Market Risk Management
using financial instruments to manage exposure to market risk
New cards
77
Accrual Accounting Method
journalize income and expenditures at the time they occur even if no money changes hands at that time
New cards
78
Cash Accounting Method
record income and expenditures at the time the money changes hands
New cards
79
Managerial Accounting
reporting financial data to internal users
New cards
80
Tax Accounting
recording transactions for tax purposes
New cards
81
Churning
broker may encourage you to make excessive trades just to collect the commission fees from each one
New cards
82
Skimming
price strategy that involves setting prices higher than those of the competition
New cards
83
Bundling
marketing strategy that involves offering several products for sale as one combined product
New cards
84
Flighting Strategy
media timing strategy that concentrates advertising during peak sales periods followed by periods of no advertising
New cards
85
Transfer Payments
monies paid by the government in which no goods or services are received in exchange
New cards
86
Floating Exchange-Rate System
value of a nation's currency fluctuates
New cards
87
Law of Economies of Scale
economic concept that the average cost of production decreases as a business expands
New cards
88
Picketing
form of protest that involves positioning union members (pickets) near a business's entrance during a conflict or strike
New cards
89
Injunction
court order that forbids people from carrying out certain activities
New cards
90
Lockout
management refuses to allow union members to work
New cards
91
Direct Distribution
channel of distribution in which goods and services move directly from the producer to the consumer or industrial user
New cards
92
Indirect Distribution
channel of distribution in which goods and services move from the producer to the channel members and then to consumers or industrial users
New cards
93
Slack Resources
resources that go above and beyond what is needed to run the business
New cards
94
Competitive Aggression
striving to win scarce customer dollars
New cards
95
Organizational Learning
strategy that seeks to strengthen an organization by bringing employees together as well as by empowering them as individuals
New cards
96
Operations Management
process of planning, controlling, and monitoring the day-to-day activities required for continued business functioning
New cards
97
Information Management
process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data for the purpose of assisting business decision making
New cards
98
Touch Points
all of the opportunities that a company has to connect with its customers and reinforce its brand value
New cards
99
Brand Promise
company's agreement, spoken or unspoken, with customers that it will consistently meet their expectations and deliver on its brand characteristics and values
Studied by 9 people
