Management Flashcards Preview

Quiz Bowl > Management > Flashcards

Flashcards in Management Deck (42)
Loading flashcards...
1

Accomplishment Striving

a strong desire to accomplish task-related goals as a means of expressing one's personality

2

accounting equation

asset=liabilities+owner equity

3

accounting profit

consists of total revenue exceeding the payment of explicit costs

4

accrual accounting

type of accounting that reports revenues when earned, and expenses when incurred

5

accrued tax liabilities

current liability related to taxes

6

affirmative action

the employment program formed by government in an attempt to create greater equity in employment

7

agribusiness

the sum of all institutions, firms, and activities involved in the commercial production and marketing of agricultural products

8

antitrust laws

laws that prevent "unfair" business practices that five rise to monopoly power

9

appraisal

professional determination of the calue of farm real estate

10

auditing

the act of verifying accounting records and practices

11

autocratic style

a leadership style where the leader makes the decision alone without asking for opinions or suggestions of the employees in the work unit

12

barrier to entry

a constraint that prevents additional sellers from entering a monopoly firm's market

13

basis

cash minus futures

14

behavior modeling

when employees observe the actions of others, learn from what they observe, and then repeat the observed behavior

15

benchmarking

the process of gathering information about other companies in your industry to compare your performance against and to use to set goals

16

blockaded entry

a condition where the incumbent firm need not undertake any entry-deterring strategies to deter entries

17

bonus or incentive plans (payments)

types of payments that are made by employers to attract, keep and reward good employees

18

boosterism

positively representing the organization when in public

19

bootlegging

informal efforts by managers and employees to create new products and new processes

20

bottom line

refers to the bottom line of an income statement; shows the net income available to shareholders

21

breakeven price

the price at which economic proft is zero, or when the price equals average total cost

22

business plan

a document that thoroughly explains a business idea and how it will be carried out

23

capital rationing

situation that exists if a firm has more acceptable investment projects than it has funds available to invest

24

cash flow statement

a measure of the cash receipts and cash payments a company makes over a given time period; measures the timing of expenditures and receipts and best indicates the repayment capacity of the firm

25

cash rent

rental arrangement that generally has the least risk to the landowner

26

categories of risk

production, marketing, financial, legal, human

27

centralization

the shift of decision-making authority from regional offices to headquarters

28

citizenship behavior

voluntary employee behaviors that contribute to organizational goals by improving the context in which work takes place

29

client structure

an organizational form in which employees are organized around serving customers

30

cobweb model

economic model that illustrates cyclical price behavior