Studied by 5 people
conceptual skills
skills that involve the ability to picture the organization as a whole and the relationship among its various parts
participative leadership
leadership style that consists of managers and employees working together to make decisions
free-reign leadership
leadership style that invovles managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives
knowledge management
finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm
external customers
dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use
internal customers
individuals and units within the firm that receive services from other individuals or units
profit
the difference between revenue and expenses
ledgers
books in which financial records are written
trial balance
a summary of all the financial data in the account ledgers that ensures the figures are correct and balanced
annual report
a yearly statement of the financial condition, progress, and expectations of an organization.
profit and loss acocunt
a financial statement showing revenue, expenditure and profit during a given period
operating expenses
salaries of sales and office staff, marketing costs, rent etc.= overheads
EBITDA
Earnings before Interest, Taxes, Depreciation and Amortization
depreciation
the loss in value of a tangable asset (e.g. a vehicle)
amortization
the loss in value of an intangible asset (e.g. the purchase of a licence or trademark)
balance sheet
a financial statement that reports assets, liabilities, and owner's equity on a specific date
liability
any amount owed to a creditor
shareholders equity
the shareolder's claims on a company's assets after all of its creditors have been paid
current assets or short-term assets
items that can or will be converted into cash within one year; may also include marketable securities
staffing
a management function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives
autocratic leadership
leadership style that involves making managerial decisions without consulting others
funds
amounts of money
non-operating income
profits from investments in other companies
the basic equation that has to balance is:
Assets = Liabilities + Shareholders´ equity
asset
anything of
Note 
Flashcard (41)