Recession-A recession is a contraction phase of the business cycle, or "a period of reduced economic activity.

Recruitment-refers to the process of sourcing, screening, and selecting people for a job at an organization or firm, or for a vacancy in a volunteer-based organization or community group.

Small Business Administration Loan- is a United States government agency that provides support to small businesses.Sherman Act-was the first United States Federal statute to limit cartels and monopolies. It falls under antitrust law.

Social Responsibility-is an ethical or ideological theory that an entity whether it is a government, corporation, organization or individual has a responsibility to society but this responsibility can be "negative

Social Security Act-resulted in the passing of two bills: Medicare and Medicaid. The act provided federal health insurance for the elderly (over 65) and for poor families. While Lyndon B. Johnson (LBJ) was responsible for signing the bill, there were many others involved in drafting the final bill that was introduced to the United States Congress in March 1965.

Strategic Objectives-Specific programs, services and activities intended to achieve one or more strategic outcomes. Strategic objectives are developed as part of the.

Theroy x and Y- are theories of human motivation created and developed by Douglas McGregor at the MIT Sloan School of Management in the 1960s that have been used in human resource management, organizational behavior, and organizational development. They describe two very different attitudes toward workforce motivation. McGregor felt that companies followed either one or the other approach.

Theory z-is the name applied to the so-called "Japanese Management" style popularized during the Asian economic boom of the 1980s.Training- The term training refers to the acquisition of knowledge, skills, and competencies as a result of the teaching of vocational or practical skills and knowledge that relate to specific useful competencies. It forms the core of apprenticeships and provides the backbone of content at technical colleges and polytechnics.Unemployment

Insurance- In addition to helping workers and their families, the Unemployment Insurance programs play a key role in helping businesses, communities, and the nation's economy.Variance

Reports-The act of varying.Venture Capitalist- is a type of private equity capital typically provided to immature, high-potential, growth companies in the interest of generating a return through an eventual realization event such as an IPO or trade sale of the company.

Wheeler-Lea Act-The Wheeler-Lea Act of 1938 is a United States federal law that amended the Federal Trade Commission Act to add the clause "unfair or deceptive acts or practices in commerce are hereby declared unlawful" to the Section 5 prohibition of unfair methods of competition, in order to protect consumers as well as competition.

Whistle Blower-A whistleblower is a person who alleges misconduct. More complex definitions may be used, but the issue is that the whistleblower usually faces reprisal.
Wednesday, November 15, 2008
quarter 2 vocab

Inflation-is a rise in the general level of prices of goods and services in an economy over a period of time.

International Trade- is exchange of capital, goods, and services across international borders or territories.

Interstate Commerce Act-was a regulatory body in the United States created by the Interstate Commerce Act of 1887, which was signed into law by President Grover Cleveland.

Joint Venture-is an entity formed between two or more parties to undertake economic activity together.

Laissez-Faire Leadership Style-The Laissez Faire Leadership Style was first described Lewin, Lippitt, and White in 1938 along with the autocratic leadership and the democratic leadership styles.

Leadership-Leadership has a formal aspect (as in most political or business leadership, individual persons holding the title "manager") or an informal one (as in most friendships or team activities).

Leadership Style-Leadership style is the manner and approach of providing direction, implementing plans, and motivating people.

Line-and-staff-Delineation of organizational authority between management personnel (staff) having overall planning and direction responsibilities and operational personnel (line) having direct job performance responsibilities. Staff is advisory to the line function.

Management Funcitons-Management is creative problem solving. This creative problem solving is accomplished through four functions of management: planning, organizing, leading and controlling. The intended result is the use of an organization's resources in a way that accomplishes its mission and objectives.

Market Segmentation-this is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.

Marketing Mix-The marketing mix is generally accepted as the use and specification of 'the four Ps' describing the strategic position of a product in the marketplace.

Marketing Research-Marketing research, or market research, is a form of business research and is generally divided into two categories: consumer market research and business-to-business (B2B) market research, which was previously known as industrial marketing research.

Mission Statement-The following elements can be included in a mission statement. Their sequence can be different. It is important, however, that some elements supporting the accomplishment of the mission be present and not just the mission as a "wish" or dream.

Nepotism-is the showing of favoritism toward relatives and friends, based upon that relationship, rather than on an objective evaluation of ability, meritocracy or suitability. For instance, offering employment to a relative, despite the fact that there are others who are better qualified and willing to perform the job.

Net Income-is equal to the income that a firm has after subtracting costs and expenses from the total revenue.

Oligopoly-is a market form in which a market or industry is dominated by a small number of sellers (oligopolists).

Organizational Chart-(often called organization chart or organigram(me) or organogram(me)) is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.

Organizing-Anything is commonly considered organized when it looks like everything has a correct order of placement. But it's only ultimately organized if any element has no difference on time taken to find it. In that sense, organizing can also be defined as to place different objects in logical arrangement for better searching.

Occupational Safety and Health Act-(OSHA) is an agency of the United States Department of Labor. It was created by Congress under the Occupational Safety and Health Act, signed by President Richard M. Nixon, on December 29, 1970. Its mission is to prevent work-related injuries, illnesses, and deaths by issuing and enforcing rules (called standards) for workplace safety and health.

Planning-in organizations and public policy is both the organizational process of creating and maintaining a plan; and the psychological process of thinking about the activities required to create a desired goal on some scale.

Planning Tools-A device, such as a process map, that helps the team determine how to improve the existing process.

Product safety-The application of engineering and management principles, criteria, and techniques to achieve acceptable hazard risk, within the constraints of operational effectiveness, time, and cost, throughout all phases of the system life cycle.

Profits-The money you make off a product.

Proprietorship-is a type of business entity which legally has no separate existence from its owner.

Pure Monopoly-A market in which one company has control over the entire market for a product, usually because of a barrier to entry such as a technology only available to that company.