Operations
A set of individuals/companies that are involved in the process of creating goods/services and getting them to the consumer
What is supply chain?
The added value of a product. Different types of _______ add specific types of value.
What is utility?
How much a customer believes a product is worth
What is perceived value?
The official hierarchy of authority in a company that dictates who reports to who and who gives orders to who
What is chain of command?
This is income you earn from a job, where you are paid an hourly rate to complete set tasks. The more hours you work, the more money you earn.
What are wages?
It maintains security of a network
by monitoring incoming and
outgoing traffic and preventing
unauthorized access.
What is a firewall?
Taxes paid on income
What are direct taxes?
Relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy
What is supply and demand?
When completing a __________, it is essential that you provide all the necessary information and connect with the company.
What is a job application?
You earn ________ when you lend money or deposit funds into an interest-bearing bank account, such as a savings account. The amount in the account will increase by a certain percentage each time.
What is interest?
Costs that fluctuate with the activity
of a business
What are variable overhead costs?
All the things used in the production of goods and services. Are finite things that companies need to run their business.
What are resources?
There are five levels to this concept. Listed in order they are: psychological needs, safety, belonging, esteem, and self-actualization
What is Maslow's Hierarchy of Needs?
This technique for gaining work experience allows you to create professional contacts
What is networking?
_________ is a tool that allows you to borrow money to buy something today and pay it back later, usually with interest added on.
What is credit?
Type of inventory management where companies have the exact amount of inventory they need at the exact moment they need it.
What is just-in-time management?
______________ is a system of compulsory contributions levied by government on persons, corporations, and properties, primarily as a source of revenue for government's expenses and other public purposes.
What is taxation?
This pricing strategy sets initially low prices for more customers, then raises them after gaining a good customer base in the market.
What is penetrative pricing?
According to Forbes, 92% of talent profs say ______ ______ are more important than ______ _______
What are soft skills and hard skills?
The difference between the asset and the liability of an individual
What is personal net worth?
This operations function involves the activities behind purchasing like negotiation, finding the best vendor etc. The steps in this function are used to fulfill the businesses needs like production, inventory, or sales.
What is procurement?
It is graphed with an upward slope. The higher the prices of a product the higher the quantity of supplies since more revenue is generated.
This selling strategy includes marketing additional products to existing customers ex. “Do you want fries with that?”
What is cross-selling?
Type of goal which are usually set up for middle managers and focus more on how to operationalize actions needed to reach the strategic goal.
What are tactical goals?
Money loaned to the government which comes back with interest. This ia medium-term investment and depending on the country, can come back between 1-10 years.
What are treasury notes?