Business Intelligence
A group of two or more computer systems linked together by communications channels to share data and information
Computer network
Another term for the mental shortcuts we take when making decisions
Cognitive Biases
Term referring to management of the conversion process of inputs to outputs
Operations management
Guy Kawasaki says the art of innovation starts with making _______.
meaning
A type of intranet, or internal website that provides proprietary corporate information to a defined user group (3 types: business to employee, business to business, and business to consumer)
Enterprise portal
The “M” in SMART Goals
Measurable
Operations can be categorized into three major types of activities: Design, Management, and _____
Improvement
According to Milton Friedman, the only social responsibility of businesses is to increase their _____.
profits
Methods and equipment that provide information about all aspects of a firm’s operations (examples including Transaction Processing Systems, Decision Support Systems, etc.)
Management Information Systems
Goal timeline for a production goal of reducing expenses by 6% in three years
Intermediate Goal
The sequence of tasks for a project representing the fastest time possible for project completion
Critical Path
Choosing a brand name, packaging, colors, a warranty, accessories, and a service program are examples of which part of the marketing mix?
product strategy
Used to connect two or more private networks over a public network, featuring strong security measures that encrypt the data entered and protect sensitive corporate information
Virtual Private Network (VPN)
Measures of business success that are (or should be) directly linked to the business’ goals
Key Performance Indicators (KPIs)
Production type in which goods are produced using mass-production techniques up to a point. At that point, the product or service is custom-tailored to the needs or desires of individual customers.
Mass Customization
Managerial accountants are concerned with __________ users, whereas financial accountatns are concerned with ________ users.
internal;external
Type of information system commonly used by workers in the retail or food/bev industry (e.g., POS)
Transaction Processing System (TPS)
Statistics tool that summarizes and reorganizes selected columns and rows of data in a spreadsheet to obtain a desired report
Pivot Table
A quality control method that streamlines production by eliminating steps in the production process that do not add benefits customers want
Lean Manufacturing
The balance sheet, income statement, and statement of cash flows describe the ________, _______, and ________ of the company.
Net worth; profitability; liquidity