Study sets matching "business 101"

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Study sets matching "business 101"

78 terms
Business 101
Value
Business
Profit
Loss
the relationship between the price of a good or a service and…
any organization or activity that provides goods and services…
the money that a business earns in sales or revenue, minus th…
when a business incurs expenses that are greater than its rev…
Value
the relationship between the price of a good or a service and…
Business
any organization or activity that provides goods and services…
135 terms
Business 101
Major Branches of Economics
Economics
Macroeconomics
Microeconomics
Economics, Macroeconomics and Microeconomics.
How society employs resources to produce goods and services f…
Concentrates on the operation of a nation's economy as a whole.
Concentrates on the behavior of people and organizations, in…
Major Branches of Economics
Economics, Macroeconomics and Microeconomics.
Economics
How society employs resources to produce goods and services f…
18 terms
Business 101 - Chapter 2
public issue
performance-expectations gap
environmental analysis
environmental intelligence
Any issue that is of mutual concern to an organization and on…
The perceived distance between what a firm wants to do or is…
A method managers use to gather information about external is…
The acquisition of information gained from analyzing the mult…
public issue
Any issue that is of mutual concern to an organization and on…
performance-expectations gap
The perceived distance between what a firm wants to do or is…
50 terms
Business 101
Which of the following circumstances i…
When developing and maintaining good s…
Efficiency means _______.... producing i…
At Backstreet Books, Inc., the departm…
An increase in the cost of some goods such as escalating gaso…
most often, they must balance the needs of the stakeholders w…
producing items using the least amount of resources
using technology to stay responsive to customer needs
Which of the following circumstances i…
An increase in the cost of some goods such as escalating gaso…
When developing and maintaining good s…
most often, they must balance the needs of the stakeholders w…
26 terms
Business 101
Business Ethic
The contemporary ethical environment
Need Ethic/social responsibility
On the Job Ethical Dilemmas
The standards of conduct and moral values governing actions a…
> High-profile investigations and arrests in headlines... > Vast…
> Anticipate and manage risks... > Identify opportunities to cre…
Business Ethic
The standards of conduct and moral values governing actions a…
The contemporary ethical environment
> High-profile investigations and arrests in headlines... > Vast…
11 terms
Business English 101
accounting
ledger
book keeping
spreadsheet
Planning, recording, analyzing, and interpreting financial in…
A specialized accounting book or computer program in which in…
Recording of accounting transactions
An application used to store and analyze data.
accounting
Planning, recording, analyzing, and interpreting financial in…
ledger
A specialized accounting book or computer program in which in…
10 terms
Business101
The body of knowledge that relates to…
The ability of a good or a service to…
An organized way for a country to deci…
Jax lives in a country where only indi…
Economics
Utility
Economic systems
Market economy
The body of knowledge that relates to…
Economics
The ability of a good or a service to…
Utility
business 101
Statutory law
common law
administrative law
Independent regulatory agencies
Law passed by the U.S. Congress or state legislatures
the part of English law that is derived from custom and judic…
The body of law created by administrative agencies (in the fo…
An independent regulatory agency is separate from the other b…
Statutory law
Law passed by the U.S. Congress or state legislatures
common law
the part of English law that is derived from custom and judic…
Business 101
Business
Goods
Sevices
Revenue
catchall term that refers to both for-profit and nonprofit or…
known as tangible products such as tomatoes iphones etc.
known as intangible products; cannot be held in your hand
earned by selling its goods and services
Business
catchall term that refers to both for-profit and nonprofit or…
Goods
known as tangible products such as tomatoes iphones etc.
20 terms
Business 101
Rule of 72
ROI
Bond
Stock
Indicates how quickly your money doubles per the ROI
Return On Investment
A debt owed by the issuer to the holder
Ownership of the issuer by the holder
Rule of 72
Indicates how quickly your money doubles per the ROI
ROI
Return On Investment
Business 101
Business
Entrepreneur
Rio
Revenue, profit,
Any activity that seek to provides good and serveces to other…
Person who risk time and money to start and mange a business.
Return on investment money gained from taking a business risk.
Money business earns above what it pays out for expenses.
Business
Any activity that seek to provides good and serveces to other…
Entrepreneur
Person who risk time and money to start and mange a business.
129 terms
Business 101
Ethical Lens Inventory - what was the…
What are the lenses and their core val…
CHAPTER 4
Business ethics
Ethical self-awareness - to be aware of what motivates us in…
♣ Rights/responsibilities - rational (head) and autonomous (i…
Ethics and Ethical Reasoning
Applying general ethical ideas to business behavior and decis…
Ethical Lens Inventory - what was the…
Ethical self-awareness - to be aware of what motivates us in…
What are the lenses and their core val…
♣ Rights/responsibilities - rational (head) and autonomous (i…
Business 101
Compensation
Salary and wages
Benefit
Time wages
the amount of money paid to an employee for work performed
direct payment to an employee for work completed.
Compensation in forms other than other direct payment for work
pays the employee a specific amount of money for each hour wo…
Compensation
the amount of money paid to an employee for work performed
Salary and wages
direct payment to an employee for work completed.
Business 101- Chapter 13
marketing mix
product
test marketing
brand name
the ingredients that go into a marketing program: product, pr…
any physical good, service, or idea that satisfies a want or…
the process of testing products among potential users
a word, letter, or a group of words and letters that differen…
marketing mix
the ingredients that go into a marketing program: product, pr…
product
any physical good, service, or idea that satisfies a want or…
100 terms
Business 101
1. Computers that are manufactured in…
During the past decade, the value of U…
AusterTech, a U.S. company, produces c…
Los Angeles-based PMI Telecom purchase…
Exports
More Than Doubled
Exporting
Importing
1. Computers that are manufactured in…
Exports
During the past decade, the value of U…
More Than Doubled
Business 101
Corporate Social Responsibility (CSR)
Minimalist
Cynical
Defensive
- Is the idea that business has obligations to society beyond…
The company earns money and obeys the law does not do anythin…
The company uses CSR as a marketing tactic to distract attent…
The company only engages in CSR to recover from a shameful ev…
Corporate Social Responsibility (CSR)
- Is the idea that business has obligations to society beyond…
Minimalist
The company earns money and obeys the law does not do anythin…
Business 101 Chapter 3
Importing
Exporting
Why do countries trade with each other?
Absolute Advantage
Brining in products
Putting out products
No national economy produces everything that they need
A country is the only source of a product or is able to make…
Importing
Brining in products
Exporting
Putting out products
Business 101 Chapter 5
Small Business
Home-based businesses
Business plan
Small Business Administration (SBA)
Independent business with fewer than 500 employees, not domin…
Firm operated from the residence of the business owner
Written document that provides an orderly statement of a comp…
Principal government agency concerned with helping small U.S.…
Small Business
Independent business with fewer than 500 employees, not domin…
Home-based businesses
Firm operated from the residence of the business owner
74 terms
Business 101 - Final Review
1.According to one study, all of the f…
2.Pembroke Native Flower Seeds has a u…
3.Under a system characterized by ____…
"My action provides financial security for my family."
Culture
Perfect
1.According to one study, all of the f…
"My action provides financial security for my family."
2.Pembroke Native Flower Seeds has a u…
Culture
26 terms
Business 101
Business Ethic
The contemporary ethical environment
Need Ethic/social responsibility
On the Job Ethical Dilemmas
The standards of conduct and moral values governing actions a…
> High-profile investigations and arrests in headlines... > Vast…
> Anticipate and manage risks... > Identify opportunities to cre…
Business Ethic
The standards of conduct and moral values governing actions a…
The contemporary ethical environment
> High-profile investigations and arrests in headlines... > Vast…
34 terms
Business 101 - Chapter 7
management
Planning
Organizing
Leading
process used to accomplish organizational goals through plann…
a management function includes anticipating trends & determin…
includes designing the structure of the organization & creati…
creating a vision for the organization & guiding, training, c…
management
process used to accomplish organizational goals through plann…
Planning
a management function includes anticipating trends & determin…
30 terms
Business 101
Business
Entrepreneur
Rio
Revenue, profit,
Any activity that seek to provides good and serveces to other…
Person who risk time and money to start and mange a business.
Return on investment money gained from taking a business risk.
Money business earns above what it pays out for expenses.
Business
Any activity that seek to provides good and serveces to other…
Entrepreneur
Person who risk time and money to start and mange a business.
64 terms
Business 101
Goods
Services
Business
Entrepreneur
Tangible products
Intangible products
Any activity that seeks to provide goods or services while op…
A person who risks time and money to start and manage a busin…
Goods
Tangible products
Services
Intangible products
Business 101
Value
Business
Entreprenuer
Factors of production
The relationship between the price of a good or service and t…
Any organization or activity that provides good and services…
People who tisk their time money and other resources to start…
Four fundemental elements natural resources, capital, human r…
Value
The relationship between the price of a good or service and t…
Business
Any organization or activity that provides good and services…
Business 101
Business
Goods
Services
Entrepreneur
Any organization that seeks to make a profit.
Tangible things that are sold.
Intangible things that are sold.
A person who starts a business. They risk time and money to s…
Business
Any organization that seeks to make a profit.
Goods
Tangible things that are sold.
Business 101
Outsourcing
The threat of terrorism
Agrarian economy
Manufacturing industry
Contracting with other countries, to do some of the firms fun…
Costly to most firms because it is costly to the governments…
Based on farming and live stalk
Business that produce and sell tangible products such as stee…
Outsourcing
Contracting with other countries, to do some of the firms fun…
The threat of terrorism
Costly to most firms because it is costly to the governments…
Business 101
Free Enterprise
Business
3 needs for a successful business
Service businesses
System of business in which individuals are free to decide wh…
The organized effort of individuals to produce and sell, for…
• stay organized... • satisfy needs... • earn a profit
Produce services such as haircuts, legal advice, tax preparat…
Free Enterprise
System of business in which individuals are free to decide wh…
Business
The organized effort of individuals to produce and sell, for…
business 101
business
products
tangible goods
services
individuals or organizations trying to earn a profit by provi…
goods and services with tangible and intangible characteristi…
automobile, computer, phone, coat
dry cleaning, doctor's checkup, basketball game, concerts
business
individuals or organizations trying to earn a profit by provi…
products
goods and services with tangible and intangible characteristi…
Business 101
Define a business in basic terms.
Explain how today's business workforce…
Discuss how organizations shape ethica…
Describe the global economic challenge…
A business is a place that exchanges goods and services for c…
Technology has a bigger role in today's business workforce. I…
Organizations help individuals with different ideas and backg…
...
Define a business in basic terms.
A business is a place that exchanges goods and services for c…
Explain how today's business workforce…
Technology has a bigger role in today's business workforce. I…
10 terms
Business 101
loss
profit
manufacture
market
NOUN: when a business has more expenses than revenue
NOUN: the amount of money left after all the costs of running…
VERB: to make or produce by hand or machine
NOUN: a demand for something that is for sale
loss
NOUN: when a business has more expenses than revenue
profit
NOUN: the amount of money left after all the costs of running…
14 terms
Business 101
Sole Proprietorships
Unlimited Liability
Partnerships
Corporations
A business owned by one person.
The owner is responsible for the company's debt.
A business owned by two or more people who share its risks an…
A company that is registered by a state and operates apart fr…
Sole Proprietorships
A business owned by one person.
Unlimited Liability
The owner is responsible for the company's debt.
Business 101
Private enterprise system
Capitalism
Competitive differentiate
Offshoring
Economic system that rewards firms for their ability to ident…
Economic system that rewards firms for their ability to perce…
Unique combination of organization abilities products and app…
Relocation of business process to lower cost locations oversees
Private enterprise system
Economic system that rewards firms for their ability to ident…
Capitalism
Economic system that rewards firms for their ability to perce…
34 terms
Business 101
Distribution channel
Middleman
Merchant middleman
Functional middleman
A sequence of marketing org that directs a product from the p…
A marketing org that links a producer and user within a marke…
A middleman that actually takes tittle to produce by buying t…
A middleman that helps in the transfer of ownership of produc…
Distribution channel
A sequence of marketing org that directs a product from the p…
Middleman
A marketing org that links a producer and user within a marke…
Business 101
Fact
Concept
Framework
Process
a piece of information or illustration of a concept
an idea which is relevant to a discipline and useful for orga…
a technique for organizing different pieces of information in…
a way in which things are done
Fact
a piece of information or illustration of a concept
Concept
an idea which is relevant to a discipline and useful for orga…
Business 101 Exam
Economies of scale:
Mo was just hired by a firm that has a…
In a(n) _____________ organization, de…
Which of the following positions in a…
are achieved when a firm reduces its average cost of goods as…
many rules and regulations that employees are expected to fol…
centralized
a lawyer employed in the legal department of a manufacturing…
Economies of scale:
are achieved when a firm reduces its average cost of goods as…
Mo was just hired by a firm that has a…
many rules and regulations that employees are expected to fol…
Business 101
Business
Profit
Tangible
Intangible
individuals or organizations who try to earn a profit by prov…
the difference between what it costs to make and sell a produ…
something you can hold
something you can't touch
Business
individuals or organizations who try to earn a profit by prov…
Profit
the difference between what it costs to make and sell a produ…
Business 101
Financing your business
Planning and Finance
Accounts receivable:
Sell Stock
• Financing- where do you get your money?... Funds to start and…
• Operations and growth... The money you receive, less then what…
• The number of days before payment is due - if its zero days…
Dilute ownership... • Share your ownership of the company with m…
Financing your business
• Financing- where do you get your money?... Funds to start and…
Planning and Finance
• Operations and growth... The money you receive, less then what…
58 terms
Business 101
business
goods
services
entrepreneur
any activity that seeks to provide goods and services to othe…
tangible products such as computers food clothings cars and a…
intangible products such as education health care insurance r…
a person who risks time and money to start and manage a busin…
business
any activity that seeks to provide goods and services to othe…
goods
tangible products such as computers food clothings cars and a…
35 terms
Business 101
business
society
general systems theory
(ownership) theory of the firm
any organization that is engaged in making a product or provi…
human beings and the social structures they collectively create
all organisms are open to and interact with their social envi…
the firm is seen as the property of its owners... purpose of the…
business
any organization that is engaged in making a product or provi…
society
human beings and the social structures they collectively create
24 terms
Business 101
E-commerce
Stakeholders
Risk
Loss
The buying and selling of goods online
Stock in a company gain or loss by the company of the business
The chance an entrepreneur takes of losing time and money on…
When expenses are more than its revenue
E-commerce
The buying and selling of goods online
Stakeholders
Stock in a company gain or loss by the company of the business
55 terms
business 101
marketing
income statement
operating income
product life cycle
process of exchange when the customer seeks to maximize utili…
sales, cost of goods sold, SGA, revenues and losses
profit-SGA-taxes - interest=income after
intro, growth, maturity, decline
marketing
process of exchange when the customer seeks to maximize utili…
income statement
sales, cost of goods sold, SGA, revenues and losses
135 terms
Business 101
Marketing
Utility
Marketing Concept
Customer-Relationship Management (CRM)
An organizational functions and a set of processes for creati…
The ability of goods and services to satisfy consumer "wants."
A business philosophy that makes customer satisfaction--now a…
The ongoing process of acquiring maintaining, and growing pro…
Marketing
An organizational functions and a set of processes for creati…
Utility
The ability of goods and services to satisfy consumer "wants."
44 terms
Business 101
Intrinsic Rewards
Extrinsic
Fredrick Taylor
Frank and Lilian Gilbert
The personal satisfaction you feel when you perform well in c…
Something given to you by someone else as recognition for goo…
The father of scientific management create a scientific movem…
Developed the principle of motion economy showing how every j…
Intrinsic Rewards
The personal satisfaction you feel when you perform well in c…
Extrinsic
Something given to you by someone else as recognition for goo…
80 terms
Business 101
Macroeconomics
E-Commerce
Demand
Absolute Average
Operation of a nations economy as a whole ( China )
Buying and selling of goods over the internet
Quantity of products that people are willing to purchase at c…
Monopoly on producing a specific product more efficiently tha…
Macroeconomics
Operation of a nations economy as a whole ( China )
E-Commerce
Buying and selling of goods over the internet
Business 101 Chapter 6
Entrepreneur
Classic Entrepreneur
Serial Entrepreneur
Social Entrepreneur
Risk taker in the private enterprise system; a person who see…
Person who identifies a business opportunity and allocates av…
Person who starts one business, runs it, and then starts and…
Person who recognizes societal problems and uses business pri…
Entrepreneur
Risk taker in the private enterprise system; a person who see…
Classic Entrepreneur
Person who identifies a business opportunity and allocates av…
52 terms
BUSI 101
Investor's Return
Luca Pacioli
Financial & Managerial
Income Statement
((End of year price-Beg. of year price)+Annual Dividend)/ Beg…
Father of accounting
"External" & "Internal"
Net Income=Revenue-Expense
Investor's Return
((End of year price-Beg. of year price)+Annual Dividend)/ Beg…
Luca Pacioli
Father of accounting
Business 101
Which of the following circumstances i…
When developing and maintaining good s…
Efficiency means _______.... producing i…
At Backstreet Books, Inc., the departm…
An increase in the cost of some goods such as escalating gaso…
most often, they must balance the needs of the stakeholders w…
producing items using the least amount of resources
using technology to stay responsive to customer needs
Which of the following circumstances i…
An increase in the cost of some goods such as escalating gaso…
When developing and maintaining good s…
most often, they must balance the needs of the stakeholders w…
47 terms
Business 101 Exam 1
Chapter 1: The Corporation and Stakeho…
Business
Society
General Systems Theory
...
an organization that is engaged in making a product of provid…
refers to human beings and to the social structures they coll…
all organisms are open to and interact with their external en…
Chapter 1: The Corporation and Stakeho…
...
Business
an organization that is engaged in making a product of provid…
24 terms
Business 101
Wants
Needs
Marketing
Business
have a desire to possess or do (something); wish for.
cannot avoid or help doing something.
the action or business of promoting and selling products or s…
A business is an organization or enterprising entity engaged…
Wants
have a desire to possess or do (something); wish for.
Needs
cannot avoid or help doing something.
65 terms
Business 101
Free Enterprise
Standard Living
Quality of life
Consumers
The free market economy where business is constantly being ch…
The relative cost of goods and services consumers are able to…
Refers to general well being of society
Determine what is produced, marketed, and consumed
Free Enterprise
The free market economy where business is constantly being ch…
Standard Living
The relative cost of goods and services consumers are able to…
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