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Vocab

TermDefinition
Producers Businesses which develop products for distribution form raw goods
Raw Goods materials derived from natural resources
Processors businesses which change raw goods into a more finished form, known as processed goods
Manufacturers businesses which change raw or processed goods into finished goods
Intermediaries businesses which move finished goods from one business to another by buying, storing and reselling goods; often referred to as "middleman"
Service Firms businesses which provide services to consumers and other businesses
Service Firms businesses which provide services to consumers and other businesses
Non-profit organizations businesses which provide goods and services to businesses and individuals, but operate on donations, volunteers and philanthropists rather than profit
Non-profit organizations businesses which provide goods and services to businesses and individuals, but operate on donations, volunteers and philanthropists rather than profit
Non-profit organizations businesses which provide goods and services to businesses and individuals, but operate on donations, volunteers and philanthropists rather than profit
Non-profit organizations businesses which provide goods and services to businesses and individuals, but operate on donations, volunteers and philanthropists rather than profit
human resources department responsible for maintaining the employment process, training and developing staff, and following laws and proper procedures
Non-profit organizations businesses which provide goods and services to businesses and individuals, but operate on donations, volunteers and philanthropists rather than profit
human resources department responsible for maintaining the employment process, training and developing staff, and following laws and proper procedures
human resources department responsible for maintaining the employment process, training and developing staff, and following laws and proper procedures
maslow's hierarchy of needs pyramid expressing the needs of people in levels: ;basic needs, safety, belongingness, love, esteem, and self-actualization
human resources department responsible for maintaining the employment process, training and developing staff, and following laws and proper procedures
cooperation process of effectively working together in group settings
maslow's hierarchy of needs pyramid expressing the needs of people in levels: ;basic needs, safety, belongingness, love, esteem, and self-actualization
maslow's hierarchy of needs pyramid expressing the needs of people in levels: ;basic needs, safety, belongingness, love, esteem, and self-actualization
human resources department responsible for maintaining the employment process, training and developing staff, and following laws and proper procedures
cooperation process of effectively working together in group settings
maslow's hierarchy of needs pyramid expressing the needs of people in levels: ;basic needs, safety, belongingness, love, esteem, and self-actualization
maslow's hierarchy of needs pyramid expressing the needs of people in levels: ;basic needs, safety, belongingness, love, esteem, and self-actualization
accounting process of recording, classifying, summarizing and reporting the financial position of a business
accounting process of recording, classifying, summarizing and reporting the financial position of a business
Assets items of value owned by a business
Liabilities debts or obligations of a business
Assets items of value owned by a business
Liabilities debts or obligations of a business
Accounting equation assets= liabilities + owners equity
Liabilities debts or obligations of a business
cooperation process of effectively working together in group settings
Accounting equation assets= liabilities + owners equity
Accounting equation assets= liabilities + owners equity
management process of reaching a company's goals and objectives by utilizing its resources; department responsible for the management process
accounting process of recording, classifying, summarizing and reporting the financial position of a business
accounting process of recording, classifying, summarizing and reporting the financial position of a business
Assets items of value owned by a business
Assets items of value owned by a business
Liabilities debts or obligations of a business
Liabilities debts or obligations of a business
Accounting equation assets= liabilities + owners equity
Balance sheet financial statement which reports totals in asset, liability and owners's equity accounts
Income statement financial statement which reports net income or net loss of a company
finance department responsible for managing the use of company funds, obtaining needed funds, and creating a financial plan
marketing department responsible for creating products which meet consumer wants and needs, guiding products through the product life cycle, and understanding consumers through marketing research
marketing mix four interrelated marketing strategies used to meet consumer needs; consist of product, price, promotion, and place
product life cycle marketing theory stating the stages experienced by products and services from their introduction to their decline; consists of four stages; introduction, growth, maturity, decline
Production department responsible for producing goods and services in the most efficient and cost-effective manner
Department department responsible for distributing goods and services in the most efficient and cost-effective manner
Channel or medium how the message is being sent
Communication the interchange of thoughts, opinions or information by speech, writings or signs
Either/Or Fallacy characterized by presenting an idea with only two choices either for or against the idea
feedback a reply or reaction to the message made by the receiver
Focusing keeping attention on what is being said or read
Glittering Generalities characterized by using important sounding words in a general statement, which have no true meanig and cannot be proved or disproved
hearing the ability to perceive sound
information source the source of the information or material that is being communicated
Message the meaning or subject of the information being communicated
Noise a distraction that interrupts the message from being understood
Paralinguistic deals with tone, pitch, rhythm, loudness and inflection of voice
Primary Source an original, fundamental and authoritative document pertaining to an event or subject of inquiry; a firsthand or eyewitness account of an event
Propaganda the ideas or facts that are a part of someones cause; is used to damage the opposing cause
Proximity the distance at which the speaker is from the audience
Receiver the person or group for which the information is meant
secondary source any document that describes an event, person, place or thing
Ethics Set of standards of conduct that guide decisions and actions based on duties derived from core values q
Ethical behavior action guided by a set of principles of morality
moral behaior conduct in accordance with what a person determines ins right versus wrong
legal behavior conduct based on or authorized by law which is established by society to maintain order and protect people and properties from harm
false financial statement an organizations financial statement containing untrue data which is used to mislead
embezzlement an entrusted person converts other's assets or properties for his or her own use
ethical dilemma complex situation in which people have difficulty choosing between a moral or an immoral act
code of ethics set of written standards issued by an organization to assist its employees in conducting their action sin conformity with the organization ethical values
Business social responsibility duties and obligations of businesses which contribute to the well being of society
stake holders all the parties which interact with the business
Ethics an approach toward decision making in which a person evaluates moral principles
Business ethics professional standards of conduct based on moral principles and values, guides decision making processes and actions
Confidentiality occurs when information relating to a company, product or person is not available or disclosed to unauthorized individuals
ethical/unethical choices choices made based on moral principles and values
legal/illegal choices choices made according to law
moral principles the principles of right and wrond accepted by an individual or a social group
values beliefs of person or social group in which they have an emotional investment (either for or against something)
Time utility degree to which a product or service is available at a necessary or convenient time of day, week, month, or year
place utility degree to which a product or service is available at a necessary or convenient location
form utility degree to which a product or service is us useful or desirable due to its form (the raw materials or parts it is made of)
Possession utility degree to which a product or service is easy to purchase or pay for
information utility degree to which a product or service is easy to learn about about, gain information about, and understand
Laissez-faire french word for leave alone economic concept opposing governmental involvement
Created by: Dawson01