Marketing/Management
A company’s logo, name, or symbol that identifies its products is called this.
What is a brand?
This term describes money owed by a company to suppliers or vendors.
What are accounts payable?
This is the economic term for the cost of the next best alternative that is given up when making a decision.
What is opportunity cost?
This global organization promotes free trade by regulating international trade agreements and resolving disputes.
What is the World Trade Organization (WTO)?
CBE students are required to complete this type of course experience to graduate.
What is an internship?
This management theory suggests that human needs progress in a hierarchy, from physiological needs to self-actualization.
What is Maslow's Hierarchy of Needs?
This is the common term for a company’s “first sale of stock to the public.”
What is an IPO (initial public offering)?
This branch of economics studies individual decision-making by consumers and firms.
What is microeconomics?
This is the most common form of business ownership in the U.S., where one person is fully liable for debts.
What is a sole proprietorship?
CBE students often gather for tutoring, group study, and collaboration in this Hiner Hall space.
What is the Collab Lab?
This management framework uses four perspectives—financial, customer, internal process, and learning & growth—to measure performance.
What is a balanced scorecard?
This ratio is calculated as current assets minus inventories, divided by current liabilities.
What is the quick ratio?
This technology system allows businesses to store and analyze large amounts of data in the cloud.
What is cloud computing?
This term describes a legally recognized entity that is separate from its owners and has limited liability.
What is a corporation?
This national accreditation distinguishes Longwood’s CBE among top business schools worldwide.
What is AACSB accreditation?
This product life cycle stage is characterized by slowing growth, intense competition, and heavy promotion.
What is maturity?
A written promise to repay borrowed money, often issued by governments or corporations, is called this.
What is a bond?
In database design, the process of organizing data to reduce redundancy is called this.
What is normalization?
This business strategy involves a company expanding by buying competitors in the same industry.
What is horizontal integration?
The CBE’s honor society for top business students is this prestigious international group.
This marketing strategy occurs when a company introduces a new product that steals sales from its existing products, rather than generating new demand.
What is cannibalism?
This inventory method assumes the most recent goods purchased are sold first.
What is LIFO (Last In, First Out)?
This law in economics states that individuals or countries should specialize in producing goods in which they have a lower opportunity cost, allowing for greater efficiency in trade.
What is the law of comparative advantage?
This ethical framework judges actions based on outcomes and “the greatest good for the greatest number.”
What is utilitarianism?
Longwood CBE graduates have historically maintained one of the highest pass rates in Virginia for this professional exam.
What is the CPA exam?