The Language of Business
Something a business owns
What is an asset?
This functional area is where the customer and the business directly intersect.
What is marketing
They are responsible for the ethical culture of an organization
Top Management
This market segment values price and age the most when making a purchase decision
What is the Low Tech market?
The paper of record for US business. A good source of information.
What is the Wall Street Journal?
Revenue - Expenses
What is profit?
Planning, organizing, leading, and controlling
What are the functions of management?
They develop the policies that guide daily work
What are front-line or low level managers?
He is more than happy to give you a loan if you have no cash
Who is Big Al?
Taxes and budgets are part of this
What is fiscal policy?
This financial statement shows the bottom line
What is the income statement?
This functional area works to make the transformation process effective and efficient
What is operations?
They implement strategic policy
Who are middle managers?
If you adjust these the age of your product is cut in half
What is Performance and Size?
The latest food and fashion trends
What are socio-cultural trends?
This law is in response to the accounting abuses demonstrated by companies like Enron and Global Crossing
What is Sarbanes-Oxley?
What do we need? How much is it going to cost? Where are we going to get the funds? When will we need more?
What role does finance play is an organization?
Good strategic planning involves these
What are all levels of management?
The is where you put the best case scenario forecast
What is the Production Schedule?
Interest rates and unemployment rate are examples of these
What are economic indicators?
The area of the statement of cash flows that should always be the largest source of cash
What is operations?
These are the only thing a business can control
What are the 4Ps?
The tend to be the first people fired or laid off
Who are middle managers?
When this goes above 190% you need to purchase more capacity
What is plant utilization
The written rules that government agencies develop that affect how businesses are run
What are regulations?