BUSN 101 midterm

the art and science of managing a firm's money so that it can meet its goals

preparing the financial plan, which projects revenues, expenditures, and financing needs over a given period

investing the firm's funds in projects and securities that provide high returns in relation to their risks

A person who is licensed to buy and sell securities on behalf of clients

a form of business financing consisting of funds raised through the sale of stock (i.e. ownership) in a business

a company's first sale of stock to the public

a security that represents an ownership in a corporation

payments to stockholders from a corporation's profits

a form of business financing consisting of borrowed funds that must be repaid with interest over a stated time period

long-term debt obligations (liabilities) issued by corporations and governments

a fixed amount of money paid by the borrower (for a bond, loan, mortgage) to the lender (or bondholder) on a regular schedule

the process of collecting, recording, classifying, summarizing, reporting, and analyzing financial activities

accounting that focuses on preparing external financial reports that are used by outsiders such as lenders, suppliers, investors, and government agencies to assess the financial strength of a business.

accounting that provides financial information that managers inside the organization can use to evaluate and make decisions about current and future operations

the process of reviewing the records used to prepare financial statements and issuing a formal auditor's opinion indicating whether the statements have been prepared in accordance with accepted accounting rules

an accountant who has completed an approved bachelor's degree program, passed a test prepared buy the American Institute of CPAs, and met state requirements. Only a CPA can issue an auditor's opinion on a firm's financial statement

a financial statement that summarizes a firm's financial position at a specific point in time

thing of value owned by a firm

what a firm owes to its creditors; also called debts

ownership

assets = liabilities + owner's equity

A financial statement that summarizes a firm's revenues and expenses and shows its total profit or loss over a period of time

the dollar amount of a firm's sales plus any other income it received from sources such as interest, dividends, and rents

the cost of generating revenues

the total expense of buying or producing a firm's goods or services

the amount a company earns after paying to produce or buy its products but before deducting operating expenses

the amount obtained by subtracting all of a firm's expenses from its revenues when the revenues are more than the expenses

The entire sequence of securing inputs, producing goods, and delivering goods to
customers

The process of smoothing transitions along the supply chain so that the
firm can satisfy its customers with quality products and services; focuses on developing tight bonds with suppliers

The action of obtaining equipment or supplies for a business

The design, execution, and control of operations that convert resources into desired goods and services and implement a company's business strategy

The coordination of a complex operation involving a large amount of people, facilities, or supplies

The determination of how much of each type of inventory a firm will keep on
hand and the ordering, receiving, storing, and tracking of inventory.

natural resources, raw materials, human resources, and capital

products and services

The creation of products and services by turning inputs, such as natural resources, raw materials, human resources, and capital, into outputs, which are products and services

the management of environmental, social, and economic impacts, and
the encouragement of good governance practices, throughout the lifecycles of goods and services

The process of discovering the needs and wants of potential buyers and customers and then providing goods and services that meet or exceed their expectations; Marketing is finding out the needs and wants of potential buyers (whether organizations or consumers) and then providing goods and services that meet or exceed the expectations of those buyers. Marketing is about creating exchanges. An exchange takes place when two parties give something of value to each other to satisfy their respective needs or wants

The traditional 4Ps of marketing: product, price, promotion, place (distribution), now with people added as a key marketing component, which together make up the marketing mix

Marketers use the term product to refer to goods, services, or even ideas

Something given in exchange for a product; Price may be monetary or nonmonetary. Price has many names, such as rent, fees, charges, and others.

Some method of getting the product from the creator of the product to the customer; Place includes a myriad of important tasks: transportation, location, supply chain management (managing each entity that deals with the product in its route to the buyer), online presence, inventory, and atmospherics (how the office, store, or even the website looks)

Methods for informing and influencing customers to buy the product; Promotion includes several different components: traditional advertising, sales promotion, public relations, personal selling, social media, e-commerce

The process of separating, identifying, and evaluating the layers of a market
in order to identify a target market

The specific group of consumers toward which a firm could direct its marketing
efforts. It is often divided into segments so that marketing strategies can be directed to a more specific target

is the process of guiding the development, maintenance, and allocation of resources to attain organizational goals

The process of deciding what needs to be done to achieve organizational objectives; identifying when and how it will be done; and determining who should do it

The process of coordinating and allocating resources to carry out an organization's plans

The process of guiding and motivating others toward the achievement of
organizational goals

The process of assessing the organization’s progress toward accomplishing its goals; includes monitoring the implementation of a plan and correcting deviations from the plan

Plans that identify alternative courses of action for very unusual or crisis
situations

The process of creating long-range (one to five years), broad goals for the
organization and determining what resources will be needed to accomplish those goals

The equipment and techniques used to manage and process information

The processes and tools designed and deployed to protect sensitive business
information from modification, disruption, destruction, and inspection.

The physical components of a computer system

The set of instructions, data or programs used to operate computers and execute specific tasks.

Software that is primarily designed to help with the input, editing, formatting and
output of text.

A file made of rows and columns that help sort, organize, and arrange data efficiently, and calculate numerical data.

An organized collection of data stored and accessed electronically

Unwanted or malicious software programs designed to damage and exploit computer systems. Examples include Trojan Horses, spyware, ransomware, worms.

A large, usually public, network of interconnected computers.

interconnected computers that share system resources.

a computerized resource-planning system that incorporates information about the firm's suppliers and customers with its internally generated data

an executive with responsibility for managing all information and or technology in an organization

a type of management information system specifically designed for the teaching needs of an educational institution

Private networks that are connected over a public network such as
the internet. Strong security measures allow only authorized users for these networks

Software that allows you to quickly and easily enter, store, organize, select, and retrieve data in a database. It tracks the data and allows users to query the database for the information they need.

Systems that allow users to leveraging technology, information, and people to
further organizational goals

A collection of devices connected together in one physical location, such
as a building, office, or home

A computer network in which the computers connected may be far
apart, generally having a radius of half a mile or more.