Fill in the blank: ________ is a financial statement that captures the financial condition of the business at that particular moment (assets and liabilities).

Fill in the blank: ________ is the process of determining the level at which revenues equal total costs.

Fill in the blank: ________ is the process of determining the amount of cash a business has to work with at any given time.

Fill in the blank: ________ are mechanisms used to monitor and regulate a task, activity, or performance while it is occurring.

Fill in the blank: ________ is the management function that monitors the work effort.

Fill in the blank: ________ are mechanisms used to monitor and regulate a task, activity, or performance after it has already occurred.

Fill in the blank: ________ are mechanisms used to monitor and regulate a task, activity, or performance before it occurs.

Fill in the blank: ________ is the comparison of two numbers from a business's financial statement; used as a tool by businesses to see relationships between dollars, numbers, and percentages.

Fill in the blank: ________ are records that show a business's financial activities.

Fill in the blank: ________ is a promise made to the consumer that a product's purchase price will be refunded if the product is not satisfactory; often called a money-back guarantee.

Fill in the blank: ________ means to prompt another person to take some kind of action.

Fill in the blank: ________ is net profit divided by investment or the 'bottom line' on how successful an ad or campaign was in terms of what the returns (generally sales revenue) were for the money expended (invested).

Fill in the blank: ________ is the successful long-term management of an organization's financial, social, and environmental risks, opportunities, and obligations.

Fill in the blank: ________ is the process of introducing a new product to a limited market to determine what its acceptance will be.

Fill in the blank: ________ is a promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected.

Fill in the blank: ________ is the amount of goods or services produced by a business from a set amount of resources.

Fill in the blank: ________ is the amount of money the business has invested in its goods and other property.

Fill in the blank: ________ is the edge achieved by businesses that offer something better than their competitors.

Fill in the blank: ________ is dividing a large job into units, or job tasks, and assigning an individual to do each of the tasks.

Fill in the blank: ________ is accomplishing a task with a minimum expenditure of time and effort.

Fill in the blank: ________ is the ability to visualize, set, and focus on achieving business objectives.

Fill in the blank: ________ is the final market value of the total outputs of all goods and services produced within a country's geographic boundaries during a year's time.

Fill in the blank: ________ is the average productivity of individual workers calculated by dividing the gross domestic product by the worker hours required to produce it.

Fill in the blank: ________ is a rapid rise in prices that may occur when demand exceeds supply or when productivity declines and costs of labor go up.

The specific economic resources used in producing goods and services are called ________.

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 is called ________.

The work people do or the workers themselves are referred to as ________.

The rapid production of large quantities of a product is known as ________.

Goals to be reached are called ________.

The goods or services produced as the result of combining inputs are called ________.

The involvement of several individuals in making decisions; in business, the participation of employees in decisions to be made by management is called ________.

The amount and value of goods and services produced (outputs) from set amounts of resources (inputs) is called ________.

The general conditions in which employees work is referred to as ________.

A type of business that performs intangible activities that satisfy the wants of consumers or industrial users is called a ________.

The process of making the best use of resources in the production of goods and services is called ________.

The general conditions in which people live; quality of life is referred to as ________.

The organization of work so that it is always done in the same way is called ________.

The general direction in which people or events are moving is called a ________.

The amount of work a worker can perform in a given period of time (e.g., customers served per hour) is called ________.

The costs associated with inspecting and catching defective products as quickly as possible are called ________.

The confidence customers have that a service provider is trustworthy and knowledgeable is called ________.

Compliance with standards is called ________.

Not meeting predetermined standards is referred to as ________.

The measure of how long a product lasts is called ________.

The costs associated with defective products reaching customers are called ________.

The costs associated with catching defective products before they reach customers are called ________.

The costs associated with planning and implementing quality so that defective products aren't created are called ________.

The evaluation of a product based on excellence, value, conformance to specifications, and customer satisfaction is called ________.

A process businesses use to prevent defective products from being created, not just to eliminate or correct them after they've already been produced is called ________.

A process businesses use to check for defects after products have been produced; also called quality inspection is known as ________.

A business's ongoing commitment and willingness to make changes for the purpose of maintaining quality is called ________.

The ongoing process of planning, implementing, and integrating quality into every aspect of an organization is called ________.

The measure of how well a product performs its purpose without breaking down is called ________.

The level of promptness and willingness with which a service is provided is known as ________.

The measure of how easy a product is to fix and maintain is called ________.

In quality management, refers to the environment in which a service is performed is called ________.

In quality management, refers to a customer's opinion on whether or not the product is worth the price is called ________.

The various firms involved in performing the activities required to create and deliver a product or service to consumers or industrial users is called the ________.

The management of flows among firms in the supply chain to maximize total profitability is called ________.

Goods a company acquires to use in making products are called ________.

Partially completed goods that are still being worked on are called ________.

Finished goods units of product that have been completed but not yet sold to customers are called ________.

Products for maintenance, repair, and operations are called ________.

Inventory that is currently moving within a transportation network to or from the company's facilities is called ________.

Extra inventory held to guard against uncertainty in demand or supply is called ________.

Inventory that is held in anticipation of customer demand is called ________.

The average amount of inventory held to satisfy customer demands between inventory deliveries is called ________.

A detailed inventory system in which a company maintains the cost of each inventory item, and the records continuously show the inventory that should be on hand is called ________.

An inventory system that requires businesses to obtain a physical count of inventory to determine quantities on hand at regular periods is called ________.

A system designed to ensure that materials or supplies arrive at a facility just when they are needed so that storage and holding costs are minimized is called ________.

An examination of incoming goods or materials to ensure that they meet the quality standards of the purchaser is called ________.

The receiver writes the description of the merchandise, counts the quantities received, and lists them on a blank or dummy invoice. This is called the ________.

The merchandise is checked directly against the actual invoice or purchase order. This is called the ________.

The receiver of a delivery conducts a check of one carton in a shipment to see if the right kind and quantity of goods were delivered. This is called the ________.

The possibility of loss (failure) or gain (success) is called ________.

A risk that carries the possibility of loss or no loss is called ________.

A risk that may result in loss, no change, or gain is called ________.

The likelihood that an event will occur is called ________.

The effect or influence of an event is called ________.

A risk-response strategy that involves reducing or controlling the impact of a risk if it occurs is called ________.

A risk-response strategy that involves accepting a risk's consequences because the potential payoff is higher than the losses; also known as risk retention or assumption. What is this strategy called?

A risk-response strategy that involves choosing not to do something that is considered risky. What is this strategy called?

A risk-response strategy that involves moving the impact of a risk to someone or something else. What is this strategy called?

Possible events and situations that directly impact a company's cash flow are known as what type of risks?

Potential events and situations that can cause injury or harm to people, property, or the environment are called what type of risks?

Possible events and situations resulting from employee actions, core processes, and daily business activities are known as what type of risks?

Possible events and situations that can affect the execution of an organization's long-term plans are called what type of risks?

A business activity that involves the planning, controlling, preventing, and limiting of business losses and enhancing possibilities for gain is known as what?

A risk-management process that involves recognizing risks that could impact a business's objectives and activities is called what?

A risk-management process that involves determining the effectiveness of current risk-response strategies and tools, tracking existing risks, monitoring new risks, and developing responses and workarounds for previously unidentified risks is called what?

Adapting to the environment in advance of the occurrence of events; taking advantage of opportunities rather than reacting to problems is known as being what?

Hesitant to take action; passive; waiting for changes to occur before acting is known as being what?

Risks that have not happened before but could occur in the future are called what?

Risks that have previously occurred are called what?

The amount of money people have to spend, or dispose of, after they have paid their taxes; also called discretionary income. What is this called?

A government agency that regulates interstate and international communications by radio, television, wire, satellite, and cable is known as what?

A government regulatory agency that administers and enforces antitrust laws to prevent price fixing and to prohibit unfair competitive practices is called what?

The regulatory agency established by the federal government to enforce laws that protect consumers' health is called what?

Issuing a government permit that allows an individual or a business to function in the marketplace is known as what?