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Business Operations
DECA
| Term | Definition |
|---|---|
| Cash Flow | The movement of money in and out of a business. |
| Capital Expenditures (CapEx) | Money spent on long-term assets (e.g., buildings, machinery). |
| Operating Expenses (OpEx) | Day-to-day costs for running the business (rent, utilities, salaries). |
| Depreciation | Gradually deducting the cost of a tangible asset over its useful life. |
| Amortization | Same as depreciation but for intangible assets (e.g., patents, software licenses). |
| Operating Cash Flow (OCF) | Cash generated from normal business operations. |
| Free Cash Flow (FCF) | Cash left after paying for CapEx. |
| MRO Goods | aintenance, Repair, and Operating supplies used in production but not part of final product. |
| Capital Goods | Long-lasting assets used to produce other goods/services. |
| Hazard Risk | Risks from dangerous conditions like accidents or natural disasters. |
| Stakeholders | Anyone affected by business actions. |
| Touchpoints | Points of contact between a customer and company. |
| Tacit Knowledge | Personal, experience-based knowledge hard to write down. |
| Intellectual Property (IP) | Creative work legally protected (patents, trademarks, copyrights). |
| Deliverables | Outputs (tangible or intangible) a project or team must deliver. |
| Wholesalers | Buy large quantities from manufacturers, sell to retailers. |
| Retailers | Sell goods/services to end consumers. |
| Reverse logistics | Process of moving products from the customer back to the business like returns, repairs, recycling, or disposal. (reversal) |
| Standing order | sending products at set intervals (ideal for businesses that need the same amount of an item on a regular basis) |
| Advance order | a normal order that is placed now with delivery requested for a future time |
| Seasonal order | order that is placed for seasonal merchandise, like snow shovels or beach umbrellas |
| Industrial goods | products purchased by producers for resale, to make other goods, or to use in business operations. Five classifications of industrial goods are materials, parts, installations, equipment, and supplies. |
| Operating system | (like Windows) manages hardware and software/connects the software to the hardware and controls the overall operation of the computer. Excel, Oracle, and Adobe are software PROGRAMS rather than operating systems. |
| Consignment | a purchase arrangement whereby products are sent to a retailer who pays for the products only upon their sale. |
| Knowledge management | How a business handles, protects, and uses information through collecting and organizing info like customer data, employee records, or company strategies, sharing information appropriately with the company, protecting sensitive information. |
Created by:
HeatherLee0511
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