Study sets matching "business management unit 5"

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Study sets matching "business management unit 5"

59 terms
Unit 5 - Business, Management, & Entrepreneurship
Business
Insurance
Management
Entrepreneur
any activity that seeks to provide goods and services to othe…
a written contract that includes a promise of reimbursement i…
the process used to accomplish organizational goals through p…
someone who organizes a business venture and assumes the risk…
Business
any activity that seeks to provide goods and services to othe…
Insurance
a written contract that includes a promise of reimbursement i…
64 terms
IB Business & Management Unit 5 Operations Management
Batch Production
Capital intensive
Cell production
Flow production
involves producing a set of identical products. Work on each…
means that the manufacturing or provision of a product relies…
is a method of production that organizes workers into indepen…
is a form of mass production whereby different operations are…
Batch Production
involves producing a set of identical products. Work on each…
Capital intensive
means that the manufacturing or provision of a product relies…
57 terms
Arkansas Business Management Unit 5
Accounting
Accounting equation
Accounts payable
Accounts receivable
a systematic process of recording and reporting the financial…
Assets = Liabilities + Capital
money owed for credit purchases
the amount owed by customers
Accounting
a systematic process of recording and reporting the financial…
Accounting equation
Assets = Liabilities + Capital
20 terms
Business Management, Unit 5 - Chapter 3
economy
resources
factors of production
infrastructure
Is the organized way a nation provides for the needs and want…
All things used in producing goods and services.
Used by economists when talking about the economic resources.
The physical development of a country
economy
Is the organized way a nation provides for the needs and want…
resources
All things used in producing goods and services.
15 terms
Business Management, Unit 5 - Chapter 8
Communication (p. 191)
Channels/media (p. 191)
Feedback (p. 191)
Barriers (p. 191)
The process of exchanging messages between a sender and recei…
Are the avenues through which messages are delivered
A receivers response to a message
Obstacles that interfere with the understanding of a message.
Communication (p. 191)
The process of exchanging messages between a sender and recei…
Channels/media (p. 191)
Are the avenues through which messages are delivered
57 terms
Arkansas Business Management Unit 5
Accounting
Accounting equation
Accounts payable
Accounts receivable
a systematic process of recording and reporting the financial…
Assets = Liabilities + Capital
money owed for credit purchases
the amount owed by customers
Accounting
a systematic process of recording and reporting the financial…
Accounting equation
Assets = Liabilities + Capital
57 terms
AR Business Management Unit 5
Accounting
Accounting equation
Accounts payable
Accounts receivable
a systematic process of recording and reporting the financial…
Assets=Liabilities + Capital.
money owed for credit purchases.
the amount owed by customers.
Accounting
a systematic process of recording and reporting the financial…
Accounting equation
Assets=Liabilities + Capital.
57 terms
Arkansas Business Management Unit 5
Accounting
Accounting equation
Accounts payable
Accounts receivable
a systematic process of recording and reporting the financial…
Assets = Liabilities + Capital
money owed for credit purchases
the amount owed by customers
Accounting
a systematic process of recording and reporting the financial…
Accounting equation
Assets = Liabilities + Capital
IB Business & Management Unit 5 Operations Management
Batch Production
Capital intensive
Cell production
Flow production
involves producing a set of identical products. Work on each…
means that the manufacturing or provision of a product relies…
is a method of production that organizes workers into indepen…
is a form of mass production whereby different operations are…
Batch Production
involves producing a set of identical products. Work on each…
Capital intensive
means that the manufacturing or provision of a product relies…
24 terms
Business Management Unit 5
Management Control
Elements of Control
Goals of Management Control
The Sequence of Management Control
the process oriented to verify the advancement status of plan…
Structure... Tools... Procedures
Achieving objectives... Protect of firms assets... Measure of firms…
Planning ... Programming ... Result Checking ... Shift Analysis... Correc…
Management Control
the process oriented to verify the advancement status of plan…
Elements of Control
Structure... Tools... Procedures
57 terms
AR Business Management Unit 5
Accounting
Accounting equation
Accounts payable
Accounts receivable
a systematic process of recording and reporting the financial…
Assets=Liabilities + Capital.
money owed for credit purchases.
the amount owed by customers.
Accounting
a systematic process of recording and reporting the financial…
Accounting equation
Assets=Liabilities + Capital.
Business Management Unit 5
Communication
Media Richness
Negotiation
Frame of Referance
Sharing and discussing ideas with others
indicates how well someone conveys information
Mutual discussion and arrangement of the terms of a transacti…
a set of criteria or stated values in relation to which measu…
Communication
Sharing and discussing ideas with others
Media Richness
indicates how well someone conveys information
Business & Management unit 5 key words
Job production
Batch production
Flow production
Mass production
Producing a one off item specially designed for the customer.
Producing a limited number of identical products- each item i…
Producing items in a continually moving process- also known a…
Producing large quantities of one standardised item.
Job production
Producing a one off item specially designed for the customer.
Batch production
Producing a limited number of identical products- each item i…
19 terms
Management business unit 5
bandwagon
eye appeal
expert says
special offer
This approach says that our product is so good that everyone…
Photographs or Pictures show how good the product looks in or…
-A spokesperson serves as an authority in an area related to…
Customer is offered something extra in addition to the produc…
bandwagon
This approach says that our product is so good that everyone…
eye appeal
Photographs or Pictures show how good the product looks in or…
12 terms
Unit 5 Vocabulary - Business Management
Regulations
Sole proprietorship
Partnership
Corporation
Rules that government agencies issue to implement laws
A business owned by a single individual, or proprietor.
An association of two or more person who jointly own a for-pr…
A business formed under state or federal statutes that is aut…
Regulations
Rules that government agencies issue to implement laws
Sole proprietorship
A business owned by a single individual, or proprietor.
Unit 5 Business Management
Entrepreneurs
Business Plan
Why do people fail with their business…
Business Cycle
start businesses, half of which fail within the first five to…
A written document that describes the nature of the business,…
They did not prepare a business plan.... Their plan was unrealis…
A pattern of irregular but repeated expansion and contraction…
Entrepreneurs
start businesses, half of which fail within the first five to…
Business Plan
A written document that describes the nature of the business,…
16 terms
Unit 5: Managing the Business
Benefits
Bonus
Commission
Delegate
employee's rewards for service in addition to salary
financial reward in addition to a regular wage or salary
a percentage of a sale paid to a salesperson
let other people share workloads and responsibilities
Benefits
employee's rewards for service in addition to salary
Bonus
financial reward in addition to a regular wage or salary
Unit 5: Managing the Business
benefits
bonus
commission
delegate
employee's rewards for service in addition to salary
financial reward in addition to a regular wage or salary
a percentage of a sale paid to a salesperson
let other people share workloads and responsibilities
benefits
employee's rewards for service in addition to salary
bonus
financial reward in addition to a regular wage or salary
63 terms
IB Business & Management Unit 5 Operations Management
Batch Production
Capital intensive
Cell production
Flow production
involves producing a set of identical products. Work on each…
means that the manufacturing or provision of a product relies…
is a method of production that organizes workers into indepen…
is a form of mass production whereby different operations are…
Batch Production
involves producing a set of identical products. Work on each…
Capital intensive
means that the manufacturing or provision of a product relies…
Business Unit 5 Foundations of Management
Federick Winslow Taylor
Principles of Scientific Management
Motion Study
Henry Gantt
> In 1911, Taylor published The Principles of Scientific Mana…
1) Develop for every job rules of motion, standardized work i…
> Frank and Lillian Gilbreth pioneered "motion studies"... > the…
> Gantt developed the Gantt chart, which is used for scheduli…
Federick Winslow Taylor
> In 1911, Taylor published The Principles of Scientific Mana…
Principles of Scientific Management
1) Develop for every job rules of motion, standardized work i…
15 terms
IB Business Management - Unit 5 (Operations Management)
Operational Objectives (5.1)
Influences on Operational Objectives (…
Operations Management (5.1)
Purpose of Operations Management (5.1)
- cost (keep costs down)... - volume (ensuring that goods and se…
- the nature of the product... - demand... - availability of resour…
Step 1: design... Step 2: establishing the supply chain... Step 3:…
creates supply for the demand created by marketing (turns a c…
Operational Objectives (5.1)
- cost (keep costs down)... - volume (ensuring that goods and se…
Influences on Operational Objectives (…
- the nature of the product... - demand... - availability of resour…
18 terms
Business Unit 5 Goals and Management
Mission Statement
Short-term Goal
Intermediate Goal
Long-term Goal
A organization's statement about how will achieve its purpose…
Goal for less than 1 year
Goal for 1-5 years
Goal for 5+ years
Mission Statement
A organization's statement about how will achieve its purpose…
Short-term Goal
Goal for less than 1 year
IB Business & Management Unit 5 Operations Management
Batch Production
Capital intensive
Cell production
Flow production
involves producing a set of identical products. Work on each…
means that the manufacturing or provision of a product relies…
is a method of production that organizes workers into indepen…
is a form of mass production whereby different operations are…
Batch Production
involves producing a set of identical products. Work on each…
Capital intensive
means that the manufacturing or provision of a product relies…
Arkansas Business Management Unit 5
Accounting
Accounting equation
Accounts payable
Accounts receivable
a systematic process of recording and reporting the financial…
Assets = Liabilities + Capital
money owed for credit purchases
the amount owed by customers
Accounting
a systematic process of recording and reporting the financial…
Accounting equation
Assets = Liabilities + Capital
16 terms
Forga Business Management Unit 5 - Financial Institutions
Bank
Bond
Check
Collateral
an institution that accepts demand deposits and makes commerc…
a long-term written promise to pay a definite sum of money at…
a written order on a financial institution to pay previously…
property a borrower pledges to assure repayment of a loan
Bank
an institution that accepts demand deposits and makes commerc…
Bond
a long-term written promise to pay a definite sum of money at…
16 terms
Unit 5: Managing the Business
benefits
bonus
commission
Delegate
employee's rewards for service in addition to salary
financial reward in addition to a regular wage or salary
a percentage of a sale paid to a salesperson
let other people share workloads and repsonsibilities
benefits
employee's rewards for service in addition to salary
bonus
financial reward in addition to a regular wage or salary
Unit 5: Understand business credit and risk management
What is RISK?
What is RISK MANAGEMENT?
What are the four possible ways busine…
How does AVOID help with RISK MANAGEME…
-The possibility of incurring a loss.
-It is a systematic process of managing risk to achieve set o…
-Avoid... -Transfer... -Insure ... -Assume
Definition:... -Declining to engage in particular activities.... E…
What is RISK?
-The possibility of incurring a loss.
What is RISK MANAGEMENT?
-It is a systematic process of managing risk to achieve set o…
16 terms
Unit 5 managing the business
benefits
bonus
commission
delegate
employee's rewards for service in addition to salary
financial reward in addition to a regular wage or salary
a percentage of a sale paid to a salesperson
let other people share workloads and responsibilites
benefits
employee's rewards for service in addition to salary
bonus
financial reward in addition to a regular wage or salary
21 terms
Business Ventures - Unit 5 Management/HR Review
Top-level managers
Middle-level managers
First-line managers
Centralization
Those with the greatest responsibility for planning, organizi…
Carry out the decisions of top-level managers. ... Serve as a li…
Those who directly assign work and oversee workers. Concerned…
Focuses authority in one place such as the president.... Small b…
Top-level managers
Those with the greatest responsibility for planning, organizi…
Middle-level managers
Carry out the decisions of top-level managers. ... Serve as a li…
26 terms
business - unit 5: human resource management
human resource (HR) management
job analysis
job description
job specifications
the management function focused on maximizing the effectivene…
the examination of specific tasks that are assigned to each p…
an explanation of the responsibilities for a specific position
the specific qualifications necessary to hold a particular po…
human resource (HR) management
the management function focused on maximizing the effectivene…
job analysis
the examination of specific tasks that are assigned to each p…
62 terms
KAA - Small Business Management - Unit 5
Customer Relationship Management (or C…
"The Golden Rule"
goal of CRM in Funeral service
initial CRM support
marketing strategy of maximizing shareholder value through wi…
Treat other people with the concern and kindness you would li…
keeps existing families satisfied so that if a death occurs i…
internally, sales team. Lack of in-house expertise is a major…
Customer Relationship Management (or C…
marketing strategy of maximizing shareholder value through wi…
"The Golden Rule"
Treat other people with the concern and kindness you would li…
10 terms
Business Management Unit 5: Management Control and Types of Organizations
management control
planning
programming
results checking
the process oriented to verify the advancement status of plan…
objectives defined; expected results which are measurable and…
developing procedures to accomplish planned objectives
measuring if company objectives are being achieved
management control
the process oriented to verify the advancement status of plan…
planning
objectives defined; expected results which are measurable and…
25 terms
Business Management Unit 5/Part 1
Accounting
Accounting equation
Accounts payable
Accounts receivable
a systematic process of recording and reporting the financial…
Assets = Liabilities + Capital
money owed for credit purchases
the amount owed by customers
Accounting
a systematic process of recording and reporting the financial…
Accounting equation
Assets = Liabilities + Capital
16 terms
Burgess--Unit 5-Managing the Business
Benefits
bonus
commission
delegate
employee's rewards for service in addition to salary
financial reward in addition to a regular wage or salary
a percentage of a sale paid to a salesperson
let other people share workloads and responsibilities
Benefits
employee's rewards for service in addition to salary
bonus
financial reward in addition to a regular wage or salary
19 terms
Evan Mogley Business Management Unit 5
Communication
Media Richness
Negotiation
Frame of Reference
A process through which you send messages to and receive mess…
indicates how well a particular medium conveys information an…
Mutual discussion and arrangement of the terms of a transacti…
the sum of a person's knowledge, experience, goals, values, a…
Communication
A process through which you send messages to and receive mess…
Media Richness
indicates how well a particular medium conveys information an…
Business Management Exam Review (Unit 5)
Because the ILM Manufacturing Company…
A business orders 10% more widgets tha…
One aspect of managing the bid process…
Which of the following is an example o…
a quantity discount
buffer
developing specifications
Alan placed a large order on March 10 for a new video game th…
Because the ILM Manufacturing Company…
a quantity discount
A business orders 10% more widgets tha…
buffer
17 terms
Forga Business Management Unit 5 Investments/Credit/Insurance
Bonding
Capacity
Certificate of Deposit (CD)
Character
provides payment of damages to people who have losses resulti…
earning power
a savings account that requires an investor to deposit a spec…
an indication of one's moral obligation to pay debts
Bonding
provides payment of damages to people who have losses resulti…
Capacity
earning power
Management Unit 5: Financial Management
Accounting
Accounting equation
Accounts payable
Accounts receivable
A systematic process of recording and reporting the financial…
Asset's = Liabilities + Capital
Money owed for credit purchases
the amount owed by customers
Accounting
A systematic process of recording and reporting the financial…
Accounting equation
Asset's = Liabilities + Capital
77 terms
Unit 5 - Ch. 6 - Managing the Business Enterprise
managers
management
efficiency
effectiveness
the people who plan, organize, lead and control the operation…
the process of planning, organizing, leading and controlling…
achieving the greatest level of output with a given amount of…
achieving organizational goals
managers
the people who plan, organize, lead and control the operation…
management
the process of planning, organizing, leading and controlling…
9 terms
Business Management - Unit 1, Ch 5
business plan
Small Business Administration
Small Business Development Centers
Sole Proprietorship or Proprietorship
written document that describes the nature of hte busines, th…
a government supported agency that counsels, assists, and pro…
Services and free consulting assistance, including writing bu…
A business owned and managed by one person.
business plan
written document that describes the nature of hte busines, th…
Small Business Administration
a government supported agency that counsels, assists, and pro…
Olive Grove Small Business Management Unit 5 - Financing
start up cost
financial statements
profit and loss
projections
the expenses a firm must pay before it can begin to produce a…
Documents that report on a business in monetary amounts, prov…
Lists all the income and expenses of a business for a certain…
estimates of future possibilities based on current factors.
start up cost
the expenses a firm must pay before it can begin to produce a…
financial statements
Documents that report on a business in monetary amounts, prov…
28 terms
Business Management Unit 8
Laissez-faire
Authoritarian
Democratic
Democratic Society
Leadership style that is "hands-off."
Leadership style where they are in charge.
Leadership style where they seek input from employees and oth…
Government by the people, which allows citizens the right to…
Laissez-faire
Leadership style that is "hands-off."
Authoritarian
Leadership style where they are in charge.
15 terms
Business Management Chapter 5
regulations
sole proprietorship
partnership
corporation
rules that government agencies issue to implement laws
A business owned by a single individual
An association of two or more people who jointly own... a for-pr…
A business formed under state or federal laws that is authori…
regulations
rules that government agencies issue to implement laws
sole proprietorship
A business owned by a single individual
40 terms
Business Management Unit 9
Planning
Organizing
Staffing
Leading/Implementing
Function of management that involves analyzing information, s…
Function of management that involves identifying and arrangin…
Function of management that involves recruiting, hiring, and…
Function of management that involves directing and leading pe…
Planning
Function of management that involves analyzing information, s…
Organizing
Function of management that involves identifying and arrangin…
30 terms
IB Business Management OPERATIONS MANAGEMENT 5.5 Production Planning
Stock (inventory)
Manufacturing businesses will hold sto…
Three costs associated with stock hold…
Costs of not holding enough stocks:
Materials and goods required to allow for the production of a…
1. Raw materials and components. These will have been purch…
1. Opportunity cost. Working capital tied up in stocks coul…
1. Lost sales. If a firm is unable to supply customers 'fro…
Stock (inventory)
Materials and goods required to allow for the production of a…
Manufacturing businesses will hold sto…
1. Raw materials and components. These will have been purch…
40 terms
Business Management Unit 12
Facilities management
Logistics
Project management software
Budgeting software
Devoted to the coordination of space, infrastructure, people…
The detailed coordination of a complex operation involving ma…
Software designed to help with a project such as scheduling a…
Software designed to help maintain your spending.
Facilities management
Devoted to the coordination of space, infrastructure, people…
Logistics
The detailed coordination of a complex operation involving ma…
33 terms
Unit 5 Business
広告を出す,宣伝する
売り上げ
ブリーフケース,書類かばん
〜に連絡を取る
advertise
sales
briefcase
contact
広告を出す,宣伝する
advertise
売り上げ
sales
14 terms
Career Management Unit 5
Attainable
Career Ladder
Career Plan
Compromise
Something that can be achieved, especially with effort
A sequence of related jobs - from entry-level to advanced- av…
A step by step plan of action influenced by the ultimate care…
Something that combines qualities or elements of different th…
Attainable
Something that can be achieved, especially with effort
Career Ladder
A sequence of related jobs - from entry-level to advanced- av…
43 terms
Business English Unit 5 Managing basic business situations (2)
to connect
to finalise
itinerary
in general
(Flug, Zug:) Anschluss haben
festlegen, abschließen
Reiseroute, Reiseplan, Programmablauf
im Allgemeinen
to connect
(Flug, Zug:) Anschluss haben
to finalise
festlegen, abschließen
20 terms
Business Management Unit 13
Record clerks
Surname
Storage media
Fields
A person hired to keep records.
Fancy word for last name.
Device on which data is stored such as flash driver, memory c…
Basic unit of data entry. For example, in my gradebook, grade…
Record clerks
A person hired to keep records.
Surname
Fancy word for last name.
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