BusinessU Business Units 1-5 to 1-7

A business function that involves people, processes, and systems that collect, organize, store and secure relevant data and information, and makes it accessible and useful for making informed decisions is called:

• cyber security

• information management

  
  

• intellectual property

  
  

• risk management

  
  

Relevant, or important and useful, data is helpful for making:

• transactions

  
  

• assets

• inspections

• decisions

Complete the list by selecting the TWO correct terms.

The Six Business Functions

i. Human Resources

ii. ______________

iii. ______________

iv. Marketing v. Finance/Accounting

vi. Information Management

• Strategy

• Operations

• Risks

• Property

• Procedures

A practice or process not generally known outside of the company that owns it, and that has economic value is a/an:

• trade secret

  
  

• cyber security

  
  

• audit

• risk

Anything that is created from the mind or intellect, like inventions, ideas, or methods, is:

• database

  
  

• accounting

  
  

• intellectual property

  
  

• marketing

  
  

Complete the statement with the best term. It is said that strategy is responsible for 10% of a business’s success, while ___________ accounts for the other 90%.

• marketing

• execution

• management

• manufacturing

Which of the following is an example of an output?

• house

• wood

• concrete

• wiring

Sales revenue minus Cost of Goods Sold (COGS) is:

• mass production

  
  

• gross profit

  
  

• an input

  
  

• an output

  
  

To categorize, sort, and transport goods to all their final destinations as efficiently, inexpensively, and carefully as possible is:

• distribution

• transportation

• fleet management

  
  

• information management

  
  

Vanilla for ice cream is obtained through:

• manufacturing

• purchasing

• distribution

• logistics