ADMN400 Final Exam Review

Vocabulary flashcards covering key concepts for the ADMN400 final exam, focusing on business intelligence, operations, marketing, financial management, and human resource management.

Data-Driven Decision Making

Using data analysis to guide strategic business choices.

Key Performance Indicators (KPIs)

Quantifiable metrics used to track performance against goals.

Cognitive Biases

Mental shortcuts that can distort rational analysis, impacting decision making.

Operations Management

Planning, organizing, and supervising processes to ensure efficient production and delivery.

Critical Path Method

A scheduling technique to identify the longest stretch of dependent activities.

Promotional Goals

Raise awareness, generate interest, create desire, and drive action.

Promotional Mix

A blend of advertising, PR, sales promotions, personal selling, and digital tools for a unified message.

Silicon Valley Bank Collapse

An example of financial mismanagement and risk in banking.

Corporate Social Responsibility (CSR)

The ethical obligations of a company to contribute positively to society and maximize profits for stakeholders.

Marketing Mix (5 P's)

Product, Price, Place, Promotion, and People - elements crucial for marketing.

Types of Competition

Direct, Indirect, Potential, and Brand competition in a market.

Financial Statements

Documents that outline a company's financial position, including balance sheets and income statements.

Venture Capital vs. Angel Investment

VCs invest in later-stage startups for larger amounts and expect high returns; angels invest in early-stage startups with smaller amounts and often provide mentorship.

Human Resources Management

A strategic approach to managing people and everything related to employees.

Dimensions of CSR

Economic, Legal, Ethical, and Philanthropic responsibilities of a business.

Business Growth Strategies

Market penetration, market development, and diversification methods to increase growth.

Emotional Brain vs. Rational Brain

The emotional brain drives impulse buying and storytelling, while the rational brain evaluates features and price.

Accounting Equation

Liabilities + Equity = Assets.

Types of Accounting

Financial, Management, Cost, Auditing, Tax, and Forensic accounting.

Equity and Debt Financing

Equity involves selling shares for funding; debt involves borrowing money to be repaid.