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Section 1

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Balance Sheet

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Competition Prep

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Last updated

6 years ago

Date created

Mar 1, 2020

Cards (50)

Section 1

(50 cards)

Balance Sheet

Front

Statement of an organization's financial position at a specific point in time, showing assets, liabilities, and shareholder equity.

Back

ETHICAL UNIVERSALISM

Front

Concept that argues that there are fundamental ethical principles that apply across cultures.

Back

CASH FLOW STATEMENT

Front

Statement of an organization's ability to meet its current and short-term obligations, showing incoming and outgoing cash and cash reserves in operations, investments, and financing.

Back

GROSS PROFIT MARGIN

Front

Ratio of gross profit to net sales.

Back

RATIO ANALYSIS

Front

Using relationships between data in financial statements to measure the financial health of an organization.

Back

MODE

Front

Value that occurs most frequently in a set of data.

Back

ACCOUNTS PAYABLE

Front

Money an organization owes its vendors and suppliers.

Back

STRATEGIC MANAGEMENT

Front

System of actions that leaders take to drive an organization toward its goals and objectives.

Back

SOCIAL INTELLIGENCE

Front

Ability to create connections or rapport with others.

Back

VALIDITY

Front

Extent to which a measurement instrument measures what it is intended to measure.

Back

Stakeholder Consept

Front

Concept that proposes that any organization operates within a complex environment in which it affects and is affected by a variety of forces or stakeholders who all share in the value of the organization and its activities.

Back

INTERCULTURAL WISDOM

Front

Capacity to recognize, interpret, and behaviorally adapt to multicultural situations and contexts; also called cultural intelligence.

Back

VARIANCE ANALYSIS

Front

Statistical method for identifying the degree of difference between planned and actual performance or outcomes.

Back

DELPHI TECHNIQUE

Front

Technique that progressively collects information from a group without physically assembling the contributors.

Back

VARIANCE ANALYSIS

Front

Statistical method for identifying the degree of difference between planned and actual performance or outcomes.

Back

Dilemma reconciliation

Front

Process of charting a course through cultural differences

Back

HIGH-CONTEXT CULTURE

Front

Society or group characterized by complex, usually long-standing networks of relationships; members share a rich history of common experience, so the way they interact and interpret events is often not apparent to outsiders.

Back

MOTIVATION

Front

Factors that initiate, direct, and sustain human behavior over time.

Back

DUE PROCESS

Front

Concept that laws are enforced only through accepted, codified procedures.

Back

RULE OF LAW

Front

Concept that stipulates that no individual is beyond the reach of the law and that authority is exercised only in accordance with written and publicly disclosed laws.

Back

BRIBERY

Front

Exchange of anything of value to gain greater influence or preference.

Back

REGRESSION ANALYSIS

Front

Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.

Back

BUSINESS CASE

Front

Tool or document that defines a specific problem, proposes a solution, and provides justifications for the proposal in terms of time, cost efficiency, and probability of success.

Back

UNWEIGHTED AVERAGE

Front

Raw average of data that gives equal weight to all values, with no regard for other factors.

Back

EXTRATERRITORIALITY

Front

Extension of the power of a country's laws over its citizens outside that country's sovereign national boundaries.

Back

DUE DILIGENCE

Front

Requirement to thoroughly investigate an action before it is taken, through diligent research and evaluation.

Back

CULTURAL RELATIVISM

Front

Concept that argues that ethical behavior is determined by local culture, laws, and business practices.

Back

CONTRAST EFFECT

Front

Tendency to enhance or diminish the strength or credibility of a statement or person based on one's impression of a preceding statement or person.

Back

RELIABILITY

Front

Extent to which a measurement instrument provides consistent results.

Back

NOMINAL GROUP TECHNIQUE

Front

Technique in which participants each suggest ideas through a series of rounds and then discuss the items, eliminate redundancies and irrelevancies, and agree on the importance of the remaining items.

Back

AFFINITY DIAGRAMMING

Front

Data-sorting technique in which a group categorizes and subcategorizes data until relationships are clearly drawn.

Back

HALO EFFECT

Front

Type of measurement bias in which analyst allows one strong point that he or she values highly and that works in subject's favor to overshadow all

Back

ROOT-CAUSE ANALYSIS

Front

Type of analysis that starts with a result and then works backward to identify fundamental cause.

Back

ASSETS

Front

Financial, physical, and sometimes intangible properties an organization owns.

Back

LOW-CONTEXT CULTURE

Front

Society in which relationships have less history; individuals know each other less well and don't share a common database of experience, so communication must be very explicit.

Back

NEGATIVE EMPHASIS

Front

Type of measurement bias that involves weighting a small negative reaction or piece of information more than it should objectively merit.

Back

COMMON LAW

Front

Legal system in which each case is considered in terms of how it relates to legal decisions that have already been made; evolves through judicial decisions over time.

Back

EMOTIONAL INTELLIGENCE (EI)

Front

Ability to be sensitive to and understand one's own and others' emotions and impulses.

Back

MIND MAPPING

Front

Data-sorting technique in which group members add related ideas and indicate logical connections, eventually grouping similar ideas.

Back

STRATEGY

Front

Plan of action for accomplishing an organization's overall and long-range goals.

Back

MEDIAN

Front

Middle number in a range of values.

Back

EQUITY

Front

Amount of owners' or shareholders' portion of a business.

Back

STRATEGIC PLANNING

Front

Process of setting goals and designing a path toward organizational success.

Back

NEGOTIATION

Front

Process by which two or more parties work together to reach agreement on a matter.

Back

CIVIL LAW

Front

Legal system based on written codes (laws, rules, or regulations).

Back

GLOBAL MINDSET

Front

Ability to have an international perspective, inclusive of other cultures' views.

Back

MEAN

Front

Average score or value.

Back

WEIGHTED AVERAGE

Front

Average of data that adds factors to reflect the importance of different values.

Back

LOW-CONTEXT CULTURE

Front

Society in which relationships have less history; individuals know each other less well and don't share a common database of experience, so communication must be very explicit.

Back

CULTURE

Front

Basic beliefs, attitudes, values, behaviors, and customs shared and followed by members of a group, which give rise to the group's sense of identity.

Back