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WorksheetsUnit 3.00 Vocabulary
Total questions: 143
Worksheet time: 1hrs 12mins
What is the definition of an angel investor?
Someone who provides startup money to a new business
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
The arrangement by which businesses and individuals can purchase now and pay later
What is an asset?
Someone who provides startup money to a new business
Anything of value that a business or individual owns
A piece of paper that says a governing body or corporation will borrow an investor's money
The arrangement by which businesses and individuals can purchase now and pay later
What is a bond?
Someone who provides startup money to a new business
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
The arrangement by which businesses and individuals can purchase now and pay later
What is the definition of a business?
Someone who provides startup money to a new business
Anything of value that a business or individual owns
A piece of paper that says a governing body or corporation will borrow an investor's money
An organized effort to produce and/or distribute goods and services
What is credit?
Someone who provides startup money to a new business
The arrangement by which businesses and individuals can purchase now and pay later
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
What is a credit rating?
The score assigned to a borrower based on previous loans
Someone who provides startup money to a new business
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
What is a database?
Someone who provides startup money to a new business
A virtual storage unit for information
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
What is debt?
Someone who provides startup money to a new business
Money businesses or individuals owe to others
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
What is equity?
Someone who provides startup money to a new business
Assets minus liabilities
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
Who are executives?
Someone who provides startup money to a new business
Top-level employees
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
What are expenses?
Someone who provides startup money to a new business
The money that a business spends
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
What is financial analysis?
Someone who provides startup money to a new business
The process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
What are financial records?
Someone who provides startup money to a new business
Documents containing information related to the amount of money going into and out of a business
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
What is financing?
Someone who provides startup money to a new business
Funding a business activity or project through debt, equity, or venture capital
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
What is a for-profit business?
Someone who provides startup money to a new business
A business whose overall purpose is to earn a profit
A piece of paper that says a governing body or corporation will borrow an investor's money
Anything of value that a business or individual owns
What is the role of a supervisor?
To carry out specific actions
To invest money in new business opportunities
To oversee other employees
To provide services through the Internet
What are tactics?
Scientific applications to business objectives
Specific actions used to carry out strategies
Invested money used for new business opportunities
Services provided through a medium of communication
What is technology in the context of business?
To carry out specific actions
To invest money in new business opportunities
Scientific applications to business objectives
Services provided through a medium of communication
What is venture capital?
To carry out specific actions
To invest money in new business opportunities
Scientific applications to business objectives
Services provided through a medium of communication
What are virtual services?
To carry out specific actions
To invest money in new business opportunities
Scientific applications to business objectives
Services provided through a medium of communication
What is the process or activity of producing goods and services?
Offshoring
Operations
Orientation
Outsourcing
What is the monetary reward a business owner receives for taking the risk involved in investing in a business?
Overhead
Production
Profit
Purchasing
What is the process of acquiring the goods and services necessary to keep production going and to accomplish business goals?
Quality control
Recruiting
Resource
Purchasing
What is the degree of excellence of a good or service?
Revenues
Strategic management
Strategic position
Quality control
What is seeking out and attracting qualified potential employees?
Operations
Orientation
Recruiting
Resource
What are sales or gross income?
Strategies
Revenues
Strategic position
Resource
What is the process of planning, controlling, and organizing an organization or department?
Strategic management
Strategic position
Operations
Orientation
What is how a business measures up in relation to other businesses in the industry?
Strategies
Revenues
Strategic position
Resource
What are plans of action for achieving goals and objectives?
Overhead
Production
Profit
Strategies
What is producing goods in foreign countries?
Offshoring
Operations
Orientation
Outsourcing
What are the day-to-day activities required for continued business functioning?
Overhead
Production
Profit
Operations
What is job preparation or induction training in which new employees are acquainted with their surroundings, receive general information about the company and its policies, and are given specific information about their jobs?
Quality control
Recruiting
Resource
Orientation
What is acquiring assistance from outside organizations/consultants to perform primary business activities?
Overhead
Production
Profit
Outsourcing
What are business expenses for things such as payroll, rent, and utilities?
Strategies
Revenues
Strategic position
Overhead
What is any item that is used to accomplish another activity, such as producing/providing goods and services?
Operations
Orientation
Resource
Purchasing
What is the definition of human resources management?
The process of planning, staffing, leading, and organizing the employees of the business
The money received by resource owners and by producers for supplying goods and services to consumers
The process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data
The reward or cost of lending or borrowing money, usually figured as a percentage of the amount
What is the meaning of interest?
An objective or want that you plan to fulfill
People who work to produce goods and services
The reward or cost of lending or borrowing money, usually figured as a percentage of the amount
The process of supervising and controlling the number of finished products a company has in stock
What is the role of a manager in a business?
Changing the shapes or forms of materials so that they will be useful to consumers
Individual whose job involves planning, organizing, staffing, directing, and controlling for a business
The process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Two individual businesses that combine to form one organization
What is the definition of marketing?
The process of planning, staffing, leading, and organizing the employees of the business
The money received by resource owners and by producers for supplying goods and services to consumers
The process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
The reward or cost of lending or borrowing money, usually figured as a percentage of the amount
What is the purpose of a mission statement in a business?
An objective or want that you plan to fulfill
People who work to produce goods and services
A brief summary of what a business owner wants a business to be doing
Business or organization whose intent is to make enough money to support its mission
What is the definition of a nonprofit business?
The process of planning, staffing, leading, and organizing the employees of the business
The money received by resource owners and by producers for supplying goods and services to consumers
The process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data
Business or organization whose intent is to make enough money to support its mission
What is the role of income in a business?
The process of planning, staffing, leading, and organizing the employees of the business
The money received by resource owners and by producers for supplying goods and services to consumers
The process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data
The reward or cost of lending or borrowing money, usually figured as a percentage of the amount
What is the definition of a loan?
The process of planning, staffing, leading, and organizing the employees of the business
The money received by resource owners and by producers for supplying goods and services to consumers
A sum of money lent to a business or an individual for a specific time period that is repayable with interest
The reward or cost of lending or borrowing money, usually figured as a percentage of the amount
What is the purpose of inventory management in a business?
The process of planning, staffing, leading, and organizing the employees of the business
The money received by resource owners and by producers for supplying goods and services to consumers
The process of supervising and controlling the number of finished products a company has in stock
The reward or cost of lending or borrowing money, usually figured as a percentage of the amount
What is the definition of a job description?
The official statement of job duties an employee must perform
People who work to produce goods and services
The process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Two individual businesses that combine to form one organization
What is the role of information management in a business?
The process of planning, staffing, leading, and organizing the employees of the business
The money received by resource owners and by producers for supplying goods and services to consumers
The process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data
The reward or cost of lending or borrowing money, usually figured as a percentage of the amount
What is the definition of manufacturing?
Changing the shapes or forms of materials so that they will be useful to consumers
Individual whose job involves planning, organizing, staffing, directing, and controlling for a business
The process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Two individual businesses that combine to form one organization
What is the meaning of a merger in business?
The process of planning, staffing, leading, and organizing the employees of the business
Two individual businesses that combine to form one organization
The process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data
The reward or cost of lending or borrowing money, usually figured as a percentage of the amount
What is the definition of a goal in business?
An objective or want that you plan to fulfill
People who work to produce goods and services
The process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Two individual businesses that combine to form one organization
What is the role of human resources in a business?
The process of planning, staffing, leading, and organizing the employees of the business
The money received by resource owners and by producers for supplying goods and services to consumers
The process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data
The reward or cost of lending or borrowing money, usually figured as a percentage of the amount
What is the ability to see the 'big picture' and think about how things will work together?
Conceptual skills
Interpersonal skills
Information
Goals
Which management function monitors the work effort?
Controlling
Directing
Planning
Organizing
What is the management function of providing guidance to workers and work projects?
Controlling
Directing
Staffing
Organizing
What is another term for top-level management?
First-line management
Mid-level management
Executive management
Supervisory management
What are all the sources of money available to a business called?
Financial resources
Material resources
Human resources
Information
Who are the supervisors who work directly with the employees who carry out the business's routine work?
First-line management
Mid-level management
Executive management
Top-level management
What is another term for objectives?
Conceptual skills
Interpersonal skills
Information
Goals
Who are the people who work to produce goods or services?
Financial resources
Material resources
Human resources
Information
What is another term for knowledge, facts, or data?
Conceptual skills
Interpersonal skills
Information
Goals
What is the ability to communicate, interact, and build relationships with others?
Conceptual skills
Interpersonal skills
Information
Goals
What is the process of coordinating resources to accomplish an organization's goals?
Controlling
Directing
Planning
Management
What are groups of activities related to management called?
Management functions
Management skills
Management resources
Management goals
Who is an individual whose job involves carrying out management functions?
Supervisor
Employee
Manager
Director
What are the equipment and supplies used by businesses in their operation called?
Financial resources
Material resources
Human resources
Information
Who are the managers who report to top-level management and have supervisors who report to them?
First-line management
Mid-level management
Executive management
Top-level management
What is competition?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Polite behavior; good manners
The customer's preference for a business; usually expressed in regular purchases from the business
What is corporate culture?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Polite behavior; good manners
The customer's preference for a business; usually expressed in regular purchases from the business
What is courtesy?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Polite behavior; good manners
The customer's preference for a business; usually expressed in regular purchases from the business
What is customer loyalty?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Polite behavior; good manners
The customer's preference for a business; usually expressed in regular purchases from the business
What are customer relations?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Polite behavior; good manners
All the activities a business engages in to interact with its customers
What is customer service?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Polite behavior; good manners
Activities and benefits provided by a business to its customers to create goodwill and customer satisfaction
What does it mean to be customer-centric?
Focused on customer needs and wants
The values and ideals that an organization encourages among its employees
Polite behavior; good manners
The customer's preference for a business; usually expressed in regular purchases from the business
What is etiquette?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Rules applying to acceptable behavior
The customer's preference for a business; usually expressed in regular purchases from the business
What does FAQs stand for?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Polite behavior; good manners
Frequently Asked Questions; used by businesses to answer questions on their websites or other marketing materials
What is an incentive?
The rivalry between two or more businesses to attract scarce customer dollars
Something that will fulfill a customer's specific desire or need
Polite behavior; good manners
The customer's preference for a business; usually expressed in regular purchases from the business
Who are internal customers?
The rivalry between two or more businesses to attract scarce customer dollars
The people (i.e., employees) who work cooperatively together to achieve business goals
Polite behavior; good manners
The customer's preference for a business; usually expressed in regular purchases from the business
What is patronage?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Loyalty to a particular business
The customer's preference for a business; usually expressed in regular purchases from the business
What does it mean to be proactive?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Adapting to the environment in advance of the occurrence of events; taking advantage of opportunities rather than reacting to problems
The customer's preference for a business; usually expressed in regular purchases from the business
What is productivity?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Polite behavior; good manners
The amount and the value of goods and services produced (outputs) from set amounts of resources (inputs)
What is respect?
The rivalry between two or more businesses to attract scarce customer dollars
The values and ideals that an organization encourages among its employees
Regard or esteem
The customer's preference for a business; usually expressed in regular purchases from the business
A touchpoint is...
All opportunities that businesses use to sell their products.
All opportunities businesses use to attract customers.
Every opportunity a business uses to teach their customers about their products and services.
All the opportunities that businesses have to connect with customers and
reinforce their brand value.
Word-of-mouth promotion is...
Promotion for a business provided by customers who tell others of their satisfaction with the business.
Promotion for a business provided by businesses who tell others of their satisfaction with the business.
Promotion for a business provided by upset customers.
Promotion for a business.
What is a target market?
A group of customers that want to shop at a certain business for specific products.
The particular group of customers a business seeks to attract.
The particular group of businesses a customer seeks to attract.
A group of businesses that want to sell a certain product to their customers.
What is the function of middle management?
Setting up the way the business's work will be done
Deciding what will be done and how it will be accomplished
Finding workers for the business
All managers who are responsible for the operation of the company or a business unit
What is the management function of organizing?
Setting up the way the business's work will be done
Deciding what will be done and how it will be accomplished
Finding workers for the business
All managers who are responsible for the operation of the company or a business unit
What is the management function of planning?
Setting up the way the business's work will be done
Deciding what will be done and how it will be accomplished
Finding workers for the business
All managers who are responsible for the operation of the company or a business unit
What are resources in the context of business?
Setting up the way the business's work will be done
Deciding what will be done and how it will be accomplished
Items that can be used to produce goods and services
All managers who are responsible for the operation of the company or a business unit
What is the management function of staffing?
Setting up the way the business's work will be done
Deciding what will be done and how it will be accomplished
Finding workers for the business
All managers who are responsible for the operation of the company or a business unit
What is strategic planning?
Long-range planning (three to five years) for the company as a whole
Plans of action for achieving goals and objectives
First-line management
Short-range planning (one year) of specific actions the business will take
What are strategies?
Long-range planning (three to five years) for the company as a whole
Plans of action for achieving goals and objectives
First-line management
Short-range planning (one year) of specific actions the business will take
What is supervisory management?
Long-range planning (three to five years) for the company as a whole
Plans of action for achieving goals and objectives
First-line management
Short-range planning (one year) of specific actions the business will take
What is tactical planning?
Long-range planning (three to five years) for the company as a whole
Plans of action for achieving goals and objectives
First-line management
Short-range planning (one year) of specific actions the business will take
What are technical skills?
Ability to understand the specialized aspects of jobs
Deciding what will be done and how it will be accomplished
Finding workers for the business
All managers who are responsible for the operation of the company or a business unit
Who are top-level management?
Setting up the way the business's work will be done
Deciding what will be done and how it will be accomplished
Finding workers for the business
All managers who are responsible for the operation of the company or a business unit
What is the purpose of orientation?
To assess a worker's job performance
To enhance or improve skills needed for a career
To acquaint new employees with their surroundings and company policies
To seek out and attract potential employees
What does outsourcing involve?
Acquiring assistance from outside organizations/consultants
Formally assessing a worker's job performance
Enhancing or improving skills needed for a career
Seeking out and attracting potential employees
What is a performance review?
Acquiring assistance from outside organizations/consultants
Formally assessing a worker's job performance
Enhancing or improving skills needed for a career
Seeking out and attracting potential employees
What is professional development?
Acquiring assistance from outside organizations/consultants
Formally assessing a worker's job performance
Enhancing or improving skills needed for a career
Seeking out and attracting potential employees
What is the purpose of recruiting?
To assess a worker's job performance
To enhance or improve skills needed for a career
To acquaint new employees with their surroundings and company policies
To seek out and attract potential employees
What is staffing?
Acquiring assistance from outside organizations/consultants
Formally assessing a worker's job performance
Enhancing or improving skills needed for a career
Dealing with job changes for a company's employees
What is strategic management?
Planning, controlling, and organizing an organization or department
Long-range planning for the company as a whole
Working from a location other than the office
Seeking out and attracting potential employees
What is strategic planning?
Planning, controlling, and organizing an organization or department
Long-range planning for the company as a whole
Working from a location other than the office
Seeking out and attracting potential employees
What does it mean to telecommute?
Planning, controlling, and organizing an organization or department
Long-range planning for the company as a whole
Working from a location other than the office
Seeking out and attracting potential employees
What is the purpose of job preparation or induction training?
To assess a worker's job performance
To enhance or improve skills needed for a career
To acquaint new employees with their surroundings and company policies
To seek out and attract potential employees
What is the purpose of performance review?
To assess a worker's job performance
To enhance or improve skills needed for a career
To acquaint new employees with their surroundings and company policies
To seek out and attract potential employees
What is the purpose of professional development?
To assess a worker's job performance
To enhance or improve skills needed for a career
To acquaint new employees with their surroundings and company policies
To seek out and attract potential employees
What is the purpose of recruiting?
To assess a worker's job performance
To enhance or improve skills needed for a career
To acquaint new employees with their surroundings and company policies
To seek out and attract potential employees
What is staffing?
Acquiring assistance from outside organizations/consultants
Formally assessing a worker's job performance
Enhancing or improving skills needed for a career
Dealing with job changes for a company's employees
What is strategic management?
Planning, controlling, and organizing an organization or department
Long-range planning for the company as a whole
Working from a location other than the office
Seeking out and attracting potential employees
What are benefits?
Advantages or payments employees receive in addition to their wages
Pay or wages for work completed
Fulfilling the requirements of the law
An oral or written expression of an employee's dissatisfaction
What is compensation?
Advantages or payments employees receive in addition to their wages
Pay or wages for work completed
Fulfilling the requirements of the law
An oral or written expression of an employee's dissatisfaction
What is compliance?
Advantages or payments employees receive in addition to their wages
Pay or wages for work completed
Fulfilling the requirements of the law
An oral or written expression of an employee's dissatisfaction
What is an employee complaint?
Advantages or payments employees receive in addition to their wages
Pay or wages for work completed
Fulfilling the requirements of the law
An oral or written expression of an employee's dissatisfaction
What is employee safety?
Freedom from danger, risk, or injury in the workplace
Pay or wages for work completed
Fulfilling the requirements of the law
An oral or written expression of an employee's dissatisfaction
What are employee-assistance programs?
Advantages or payments employees receive in addition to their wages
Pay or wages for work completed
A project organized and sponsored by a company to help its employees
An oral or written expression of an employee's dissatisfaction
What is an exit interview?
Advantages or payments employees receive in addition to their wages
Pay or wages for work completed
Discussions with employees who are leaving that are designed to gain feedback for the business
An oral or written expression of an employee's dissatisfaction
What is globalization?
Advantages or payments employees receive in addition to their wages
The rapid and unimpeded flow of capital, labor, and ideas across national borders
Fulfilling the requirements of the law
An oral or written expression of an employee's dissatisfaction
What are human resources?
Advantages or payments employees receive in addition to their wages
People who work to produce goods and services
Fulfilling the requirements of the law
An oral or written expression of an employee's dissatisfaction
What is human resources management?
Advantages or payments employees receive in addition to their wages
Pay or wages for work completed
The process of planning, staffing, leading, and organizing the employees of the business
An oral or written expression of an employee's dissatisfaction
What is a job description?
Advantages or payments employees receive in addition to their wages
Explanation of responsibilities and tasks associated with a specific job
Fulfilling the requirements of the law
An oral or written expression of an employee's dissatisfaction
What is a job specification?
Advantages or payments employees receive in addition to their wages
Explanation of the skills, knowledge, and characteristics required for a job
Fulfilling the requirements of the law
An oral or written expression of an employee's dissatisfaction
What are on-boarding activities?
Advantages or payments employees receive in addition to their wages
Pay or wages for work completed
Human resources management tasks that must be performed when a new employee joins the company
An oral or written expression of an employee's dissatisfaction
What is on-the-job training?
Advantages or payments employees receive in addition to their wages
The most common method of training; the employee learns by actually performing the job
Fulfilling the requirements of the law
An oral or written expression of an employee's dissatisfaction
What is organizational restructuring?
Advantages or payments employees receive in addition to their wages
Pay or wages for work completed
A significant change to a business's structure or operations
An oral or written expression of an employee's dissatisfaction
What is the process by which an organization's accounts and records are verified?
Audit
Compliance
Data processing
Outsourcing
What is an organization's ability to function during and after a disaster called?
Business continuity
Decision-making
Information overload
Trade secret
What does compliance refer to?
Fulfilling the requirements of the law
Stability; regularity
Converting facts and figures into useful information
Acquiring assistance from outside organizations/consultants
What does consistency mean?
Stability; regularity
Choosing among alternatives
Private information that belongs to an organization
Computer programs that download without permission
What are facts and figures called?
Data
Information
Viruses
Wireless network
What is the process of converting facts and figures into useful information called?
Data processing
Information management
Management information system
Sarbanes-Oxley Act
What is the act of choosing among alternatives called?
Decision-making
Hack
Spam
Trade secret
What is unauthorized access to a computer system called?
Hack
Audit
Outsourcing
Wireless network
What is data presented in a useful form called?
Information
Business continuity
Consistency
Proprietary information
What is the process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data for the purpose of assisting business decision-making called?
Information management
Compliance
Data processing
Trade secret
What is communication that is too much and/or comes too fast to process at one time called?
Information overload
Audit
Consistency
Viruses
What is an integrated technology that assists with an organization's information management needs called?
Management information system
Spam
Business continuity
Sarbanes-Oxley Act
What is acquiring assistance from outside organizations/consultants to obtain goods or services to accomplish business objectives or perform primary business activities called?
Outsourcing
Trade secret
Data
Wireless network
What is private information that belongs to an organization and cannot be released to the public called?
Proprietary information
Decision-making
Information overload
Audit
What is a U.S. regulation mandating that public businesses comply with specific accounting requirements called?
Sarbanes-Oxley Act
Hack
Data processing
Business continuity
What is a wireless network?
A computer network to talk with friends.
A computer district in a business.
Businesses need this to spy on employees.
A computer network connected without the use of wires or cables.
What is a virus?
Programs designed to disrupt computer operations.
Programs that make your computer operate more efficiently.
Computer programs that download to your computer or network without your
permission; programs designed to disrupt computer operations.
A sickness that causes you to run a fever.
A trade secret is what kind of information?
Information that my mom told me to keep secret.
Undisclosed information within a particular business or industry.
Disclosed information within a particular business or industry.
Information between me and my bestie.
What is spam?
Junk email that the recipient did not request; also known as unsolicited
commercial email.
Favorite emails from friends and family.
Junk email that the recipient did request; also known as unsolicited
commercial email.
Junk email.
