Download BUAD 1001 Final Exam Questions And Answers and more Exams Supply Management in PDF only on Docsity!
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Keys for Successful IT Department - correct answer ✅1. Build Relationships
- Coach and Develop Team 3.Stay on Top of Technology
- Support All Aspects of Company
- Different Lines of Business
- Learn about the business
- Liaison Role Intranet - correct answer ✅organization's private network of internally linked websites accessible only to employees Extranet - correct answer ✅system that allows outsiders limited access to a firm's internal information network
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Information System - correct answer ✅system that uses IT resources to convert data into information and to collect, process, and transmit that information for use in decision making Data - correct answer ✅raw facts and figures that, by themselves, may not have much meaning Information - correct answer ✅meaningful, useful interpretation of data Data Warehousing - correct answer ✅the collection, storage, and retrieval of data in electronic files Data Mining - correct answer ✅the application of electronic technologies for searching, sifting, and reorganizing pools of data to uncover useful information
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- Key measure of success in business
- Know the equation. (check slide 13) Profitability Ratio - correct answer ✅financial ratio for measuring a firm's potential earnings e.g ROE, ROA Activity Ratio - correct answer ✅financial ratio for evaluating management's efficiency in using a firm's assets Short-Term Solvency Ratio - correct answer ✅financial ratio for measuring a company's ability to pay immediate debts Current Ratio - correct answer ✅financial ratio for measuring a company's ability to pay current debts out of current assets
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Activity-based costing - correct answer ✅1. Identifies activities that create and factors that drive indirect costs
- Ties cost drivers to the production of goods M-1 - correct answer ✅measure of the money supply that includes only the most liquid (spendable) forms of money Currency (Cash) - correct answer ✅government-issued paper money and metal coins Check - correct answer ✅demand deposit order instructing a bank to pay a given sum to a specified payee M-2 - correct answer ✅measure of the money supply that includes all the components of M-1 plus the forms of money that can be easily converted into spendable forms
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Open-Market Operations - correct answer ✅the Fed's sale and purchase of securities in the open market Federal Deposit Insurance Corporation (FDIC) - correct answer ✅1. federal agency that guarantees the safety of deposits up to $250,000 in the financial institutions that it insures
- Preserves confidence by supervising banks and insuring deposits in banks and thrift institutions
- Commercial banks pay fees for membership in the FDIC
- Maintains the right to examine the activities and accounts of all member banks Automated Clearing House - correct answer ✅- electronic funds transfer system that provides interbank clearing of electronic payments for the nation's financial institutions
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-network allows businesses, government, and consumers to choose an electronic-over-paper alternative for payments Baby Boomers - correct answer ✅individuals born between the 1946 and 1964. Generation X - correct answer ✅individuals born between the 1960's and late 1970s/early 1980s. Millennials - correct answer ✅individuals born between the late 1970s and mid 2000s SMART - correct answer ✅S = Specific M = Measureable A = Attainable R = Relevant & Result Oriented T = Time Based
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Intellectual property - correct answer ✅Result of creative or intellectual effort -Protected by the copyright law -Threatened by piracy Personal Strategy Map Strategic Themes - correct answer ✅1. Outstanding Career Success
- Accomplishment of Educational Goals
- Achieving Personal Fulfillment Five Individual Perspectives - correct answer ✅1. Finances
- Employment
- Education
- Relationships
- Health
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Lean - correct answer ✅"an integrated set of practices designed to reduce cost by attacking waste, reducing inventory, compressing cycle time and integrating the supply chain while actively involving employees at all levels in the improvement process" Lean Areas of Waste Reduction - correct answer ✅Transportation Motion Waiting Time Inspection Redundant Activities Over-processing Defective product and rework
