Wild Card
Quality Management
Procurement
Financial Management
Marketing
100
specific, measurable, attainable, realistic and time bound
What are SMART goals
100
Philosophy directed at improving customer satisfaction while promoting positive change and an effective environment for continual improvement of all organizational aspects.
What is TQM
100
Managerial function of acquiring material for production. The important activities that occur in this subsystem are purchasing, receiving, storage, and inventory control.
What is procurement
100
Area of accounting concerned with an independent review of accounting records
What is auditing
100
Segmentation based on resources, ideals, achievements and self expression
What is VALS
200
Physical evidence, process and people
What are the additional parts of the service marketing mix
200
Comparing one’s performance to the performance of the best example in the same field.
What is benchmarking
200
Opening inventory plus purchases plus or minus transfers minus closing inventory
What is cost of goods sold
200
A systematic means by which costs associated with the acquisition and installation of a fixed asset are allocated over the estimated useful life of the asset
What is depreciation
200
Sold before they are produced
What is a service
300
Organizations should deliver satisfaction in a way that maintains or improves the consumer's and society's well-being
What is the societal marketing concept
300
Five individual, but related international standards on quality management. These standards are based on 8 principles, which are customer focus, leadership, involvement of people, process approach, systems approach to management, continual improvement, and mutually beneficial supplier relations.
What are ISO standards
300
Food cost divided by average inventory
What is inventory turnover
300
The disclosure of events of information if they “make a difference” to the user of financial statements
What is materiality principle
300
Process of dividing the total market into groups of people with similar product needs.
What is market segmentation
400
Closing the agreement for exchange
What is sales
400
Create consistency of purpose toward improvement of products and services,
What is Deming's 14 point system
400
The resources of a company
What is an asset
400
Belief that organizations should determine the needs and wants of a target market, and with the knowledge of these needs and wants in place, be capable of delivering desired satisfaction more effectively and efficiently.
What is the marketing concept
500
Customers favor products available and highly affordable; companies should focus on production and distribution efficiency
What is the production concept
500
Characteristics of a product or service that weigh on its ability to satisfy stated or implied needs. A quality product or service is free from defects.
What is quality
500
Practice of stealing small quantities or articles
What is pilferage
500
$1 today is worth more than receiving $1 in the future.
What is the time value of money
500
Product price promotion, place
What is product marketing mix
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