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Tài liệu quan trọng để các nhà quản lý cao cấp có thể dùng tham khảo và lấy chứng chỉ MBA trong , ngoài nước . Ngoài ra, tất cả mọi người đang cần tài liệu để phát triển thêm kiến thức và mọi người có nhu cầu lấy chứng chỉ làm hành trang để tham gia vào các công ty lớn và chức vụ cao cũng có thể tham khảo tài liệu này
TS ĐỖ HỮU VINH MBA DÀNH CHO CEO, CFO NHÀ XUẤT BẢN ĐẠI HỌC QUỐC GIA TP.HỒ CHÍ MINH LỜI GIỚI THIỆU Trong môi trường kinh doanh toàn cầu hóa ngày nay, kinh tế quốc gia phận kinh tế toàn cầu Chương trình MBA hướng người học tới việc quản lý hoạt động phận kinh tế toàn cầu Vì vậy, nội dung môn học thường nêu thành chủ đề có ý nghĩa sâu rộng mở Đó thường vấn đề mang tính toàn cầu không hạn hẹp phạm vi quốc gia hay thị trường cụ thể Chẳng hạn, học đạo đức kinh doanh, chủ đề đặt trách nhiệm doanh nghiệp vấn đề khí hậu toàn cầu hay vấn đề khan lương thực giới Điều giúp học viên có tầm nhìn rộng mở, bao quát Đặc biệt, chương trình MBA cần trang bị cho người học kĩ kinh doanh kết hợp với kinh nghiệm kinh doanh thực tế doanh nhân để tạo thành chiến lược kinh doanh hiệu Thông qua khóa học, người học phát triển cá nhân tốt hơn, mở mối quan hệ hợp tác phát triển mạng lưới kinh doanh tương lai Tất điều tác động trực tiếp tới hiệu kinh doanh doanh nghiệp, giúp doanh nghiệp thành công Ngoài ra, người học cung cấp kiến thức thực tế lãnh đạo, quản lý, tầm nhìn chiến lược, có thêm hiểu biết nhiều mô hình kinh doanh khác phương pháp giải vấn đề Họ có hội tiếp cận tình kinh doanh thực tiễn chia sẻ ý tưởng giải pháp kinh doanh doanh nghiệp cá nhân Những kiến thức kỹ thiếu hoạt động kinh doanh phức tạp Quyển ‘MBA dành cho CEO,CFO ’ lần xuất Việt Nam, chứa đựng quan điểm sáng suốt dành cho nhà quản lý trẻ nhà quản lý kỳ cựu, đồng thời nguồn thông tin vô giá cho cấp lãnh đạo việc điều hành nhà quản lý Cuốn sách thiết kế dạng hỏi-đáp để giải trọng tâm vấn đề phát sinh trình tác nghiệp thương vụ kinh doanh quốc tế Các câu hỏi đặt học viên cao học nhà quản lý với tần số xuất nhiều lần giảng đường đại học Mỹ , doanh nghiệp giáo sư giải đáp rõ ràng, cô đọng súc tích thông qua chương sách Mục tiêu sách xây dựng tảng tư vững mạnh lực phân tích sách, quản lý lãnh đạo cho nhà chuyên môn Việt Nam Nội dung chương giúp học viên học cách xác định chất khía cạnh then chốt kinh tế giới, khám phá giải pháp khả thi xác định lực mặt tổ chức để thực giải pháp Nền tảng kinh tế học vững trụ cột nội dụng sách Phân tích kinh tế công cụ thiết yếu cho việc quản lý tài hoạt động khác phủ có ảnh hưởng đến phân bổ nguồn lực Các nhà hoạch định sách tham gia vào việc phát triển, thực thi hay đánh giá quy định luật phải quán triệt nguyên lý kinh tế học Mặc dù học viên học phương pháp phân tích định lượng chương trình đào tạo MBA trọng tâm khả ứng dụng khái niệm vào tình hình thực tiễn giới Hy vọng sách đem lại nhiều điều bổ ích thú vị cho bạn đọc Tác giả MỤC LỤC Phần Quản trị chiến lược, quản trị doanh nghiệp, marketing luật doanh nghiệp Chương Quản trị chiến lược quản trị doanh nghiệp 1.1 Tuyên bố sứ mệnh tổ chức 1.2 Ra định quản lý 1.3 Quá trình quản trị chiến lược 1.4 Các mô hình mô 1.5 Quản lý công suất 1.6 Phân tích vị trí 1.7 Nghiên cứu định mức thời gian 1.8 Công tác lấy mẫu 1.9 Chiến lược hoạch định tổng hợp 1.10 Phương pháp vận chuyển 1.11 Theo dõi tiến độ kinh doanh 1.12 Sắp xếp dự án theo trình tự thời gian 1.13 Nhóm kỹ thuật quản lý dự án: PERT CPM Chương Quản trị doanh nghiệp 2.1 Kiểm soát hàng tồn kho thời điểm ( Just in time ) 2.2 Hoạch định nhu cầu nguyên vật liệu ( MRP) 2.3 Lập kế hoạch quản trị 2.4 Quản lý chất lượng toàn diện ( TQM) 2.5 Các kỹ thuật quản lý chất lượng khác 2.6 Quản lý kiểm soát chất lượng 2.7 Các công cụ kiểm soát chất lượng 2.8 Ra định nhóm 2.9 Cấu trúc tổ chức nhân 2.10 Thành lập phòng ban 2.11 Đánh giá hiệu công việc 2.12 Khen thưởng 2.13 Động viên kịp thời qua thiết kế công việc 2.14 Lãnh đạo hiệu Chương Marketing 3.1 Định nghĩa marketing 3.2 Định nghĩa thị trường 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 3.11 3.12 3.13 3.14 3.15 Quản trị quy trình marketing Nghiên cứu thị trường Phân khúc thị trường Quyết định marketing thương hiệu Các chiến lược tiếp thị hãng dịch vụ Các định dòng sản phẩm Chiến lược phát triển tiếp thị sản phẩm Các định thiết kế kênh tiếp thị Lập ngân sách xúc tiến thương mại Khuyến hỗn hợp Quảng cáo Marketing điện tử Thương mại điện tử CHƯƠNG Luật kinh doanh thương mại: Những nguyên tắc A Luật kinh doanh Giới thiệu 4.1 Luật điều chỉnh kinh tế thị trường 4.2 Các loại hình luật thương mại 4.3 Tóm lược số công cụ toán 4.4 Các bước cụ thể cải cách luật thương mại 4.5 Tiểu kết 4.6 Bộ luật thương mại thống nhất: mô hình cho nước phát triển 4.7 Công ước mua bán hàng hóa quốc tế Liên Hợp Quốc ( 1980) 4.8 Luật phá sản Estonia : cải cách thành công B Luật Doanh nghiệp 4.9 Luật hợp đồng 4.9.1 Tầm quan trọng Hợp đồng 4.9.2 Lập Hợp đồng 4.9.3 Vi phạm Hợp đồng 4.10 Giao dịch bảo đảm 4.10.1 Lợi ích Bảo đảm 4.11 Phá sản 4.11.1 Các Cơ chế Phá sản 4.11.2 Phá sản áp dụng theo Chương 13 nào? 4.12 Luật người tiêu dùng 4.12.1 Mối quan hệ với Người tiêu dùng 4.13 Bán hàng 4.13.1 Bán hàng hóa Dịch vụ 4.13.2 Lời chào hàng xử lý theo UCC? 4.14 Công cụ chuyển nhượng 4.14.1 Các Vấn đề xoay quanh công cụ chuyển nhượng 4.14.2 Tầm quan trọng việc người nắm giữ gì? 4.15 Luật đại lý 4.15.1 Các Đại lý hoạt động nào? 4.15.2 Các trách nhiệm người ủy thác đại lý gì? 4.16 Luật tài sản 4.16.1 Xử lý tài sản 4.16.2 Bất động sản gì? 4.17 Bảo hiểm 4.17.1 Bảo hiểm cho Doanh nghiệp 4.18 Luật lao động tuyển dụng 4.18.1 Mối quan hệ với Nhân viên 4.18.2 OSHA hoạt động nào? 4.19 Phạm tội kinh doanh, tội phạm giới “ áo trắng “ đạo đức 4.19.1 Phạm tội hình vi phạm Đạo đức 4.20 Luật sở hữu trí tuệ Phần Báo cáo tài chính, Bộ luật Sarbanes-Oxley, quản trị doanh nghiệp ứng dụng kế toán nội cho công ty bạn Chương 5: Báo cáo tài chính, Bộ luật Sarbanes-Oxley, quản trị doanh nghiệp 5.1 Báo cáo tài lại sử dụng 5.2 Các báo cáo tài phân loại 5.3 Báo cáo lưu chuyển tiền tệ 5.4 Phân tích dòng tiền 5.5 Các phần khác báo cáo thường niên 5.6 Báo cáo hàng quý 5.7 Phần phân tích bàn luận ban quản lý ( MD&A) báo cáo thường niên 5.8 Bộ luật Sarbane-Oxley ( SOX ) 5.9 Chuẩn mực báo cáo tài quốc tế ( IFRS ) Chương 6: Các cách đánh giá cải thiện hiệu tài công ty 6.1 Cách đánh giá hiệu tài công ty 6.1.1 Phân tích chiều ngang phân tích chiều dọc 6.1.2 Làm việc với số tài 6.2 Làm để phân tích cải thiện khả sinh lời giá trị cho cổ đông doanh nghiệp 6.2.1 Chỉ số tỷ suất sinh lời vốn đầu tư ( ROI ) công thức Dupont 6.2.2 Chỉ số lãi vốn cổ phần ( ROE ) công thức Dupont điều chỉnh Chương : Các ứng dụng kế toán nội cho công ty bạn 7.1 Làm để phân tích hiệu công việc theo phòng ban 7.2 Phân tích hiệu số gộp 7.3 Các công cụ định giá 7.4 Đánh giá dòng sản phẩm 7.5 Làm để đo lường tính hiệu Marketing 7.6 Các kỹ thuật lập ngân sách ( dự toán ) 7.7 Làm bậc lĩnh vực vấn đề phân tích sai biệt 7.8 Kế toán chi phsi dựa hoạt động ( ABC ) 7.9 Phương pháp kế toán chi phí mục tiêu chi phí vòng đời 7.10 Thẻ điểm cân Phần Phân tích báo cáo tài chính, sản lượng, quản trị tài chính… Chương 8: Phân tích báo cáo tài chính, sản lượng, quản trị tài 8.1 Phân tích chi phí – sản lượng – lợi nhuận ( CVP ) 8.2 Hiệu số gộp 8.3 Từ hòa vốn chơ tới lợi nhuận mục tiêu 8.4 Phân tích điều xãy ? 8.5 Đoàn bẩy kinh doanh 8.6 Giá trị thời gian tiền tệ - giá trị tương lai Chương 9: Dự toán vốn 9.1 Dự toán vốn 9.2 Các kỹ thuật đánh giá đề nghị đầu tư 9.3 Ảnh hưởng thuế thu nhập định dự toán vốn 9.4 Quyết định THUÊ – MUA 9.5 Dự toán vốn lạm phát Chương 10 : Quản lý tài sản, kỹ thuật huy động vốn, lý thuyết danh mục 10.1 Quản lý nguồn vốn kinh doanh 10.2 Tối đa hóa lợi nhuận dòng tiền mặt 10.3 Quản lý khoản phải thu 10.4 Lập chiến lược đầu tư tốt 10.5 Cách huy động vốn tốt cho doanh nghiệp bạn 10.6 Cách giảm rủi ro : đa dạng hóa 10.7 BETA– mô hình định giá tài sản vốn ( capm) Phần : Các phương pháp phân tích định lượng công nghệ thông tin Chương 11 : Ra định thống kê dự báo 11.1 Cách sử dụng số liệu thông kê 11.2 Sử dụng kỹ thuật dự báo 11.2.1 Trung bình di động 11.2.2 Phương pháp sang số mũ 11.3 Phân tích hồi quy để dự đoán doanh số lợi nhuận 11.4 Số liệu thống kê cần tìm phân tích hồi quy 11.5 Đo lường độ xác dự báo bạn 11.6 Cách sử dụng phần mềm thống kê máy tính để thực hồi quy đa biển Chương 12 : Sử dụng phương pháp phân tích định lượng để định 12.1 Ra định trước không chắn mâu thuẩn 12.2 Ra định điều kiện không chắn 12.3 Lý thuyết định 12.4 Lập trình tuyến tính giá bóng 12.4.1 Lập trình tuyến tính 12.4.2 Giá bóng ( chi phí hội ) 12.4.3 Cách sử dụng máy tính lập trình tuyến tính 12.5 Đường cong học tập 12.6 Lập kế hoạch kiểm toán hàng tồn kho 12.7 Các mô hình xếp hàng ( hàng đứng chờ ) Chương 13: Công nghệ thông tin (IT) ứng dụng máy tính cho kinh doanh 13.1 Hệ thống thông tin quản lý (MIS) 13.2 Phần mềm quản lý chuỗi giá 13.3 Ngôn ngữ báo cáo thương mại mở rộng (XBRL) 13.4 WEB 2.0 13.5 Điện toán đám mây lợi cạnh tranh 13.6 Điện toán di động ( công nghệ không dây ) Phần : Kinh tế học, vấn đề Công ty đa quốc gia Chương 14 Kinh tế học 14.1 Các lĩnh vực kinh tế chính: kinh tế học vi mô kinh tế học vĩ mô 14.2 Các thước đo hiệu kinh tế nói chung 14.3 Các số giá 14.4 Các số kinh tế quan trọng khác 14.4.1 Các tiêu điều kiện thị trường lao động 14.4.2 Các số thị trường tiền tệ tín dụng 14.4.3 Chỉ số tiêu 14.4.4 Các thước đo cho thị trường sản phẩm 14.5 Các số báo kinh tế chính, trùng hợp, số độ trễ 14.6 Các số kinh tế quan trọng khác 14.7 Các số tiền tệ tác động chúng tới kinh tế 14.8 Ảnh hưởng việc hạ thấp lãi suất chiết khấu 14.8.1 Lạm phát 14.8.2 Năng suất chi phí nhân công đơn vị 14.8.3 Suy thoái 14.8.4 Thâm hụt liên bang 14.8.5 Cán cân toán Hoa Kỳ 14.8.6 Giá trị Đô la Chương 15 : Kinh doanh tài quốc tế 15.1 Nghiệp vụ nước 15.2 Thị trường ngoại hối 15.3 Các chiến lược tài 15.4 Rủi ro chuyển đổi 15.5 Rủi ro giao dịch 15.6 Rủi ro kinh doanh 15.7 Tác động thay đổi tỷ giá hối đoái 15.8 Lãi suất 15.9 Lạm phát 15.10 Các ví dụ rủi ro tài 15.11 Các tài quốc tế Bảng giải thuật ngữ CHƯƠNG Quản trị Chiến lược Quản trị Điều hành (OM) Chương bàn công tác quản trị chiến lược quản trị sản xuất tác nghiệp (P/OM), bao gồm Tuyên bố sứ mệnh Quản trị chiến lược Phân tích Điểm mạnh, Điểm yếu, Cơ hội Thách thức (SWOT) Ra định quản lý Mô Quản lý công suất Phân tích vị trí Các quy trình định mức thời gian Các tiến độ lập kế hoạch tổng hợp Quản lý tồn kho Lập tiến độ, bao gồm lập tiến độ dự án Chiến lược định nghĩa diễn biến hành động kế hoạch bao gồm chi tiết hóa nguồn lực cần thiết để đạt mục tiêu cụ thể Tất tổ chức kinh doanh có mục tiêu, chất thay đổi môi trường tổ chức, họ phải cần tới kế hoạch chiến lược tổng thể để cụ thể hóa theo nghĩa rộng cách để đạt mục tiêu tổ chức trước bất ổn môi trường Do đó, quản trị chiến lược liên quan tới việc định chiến lược lập kế hoạch cho thực chiến lược Như vậy, quản trị chiến lược có tầm áp dụng nói chung, công tác liên quan tới nhà quản lý loại hình tổ chức, dù tổ chức tìm kiếm lợi nhuận hay phi lợi nhuận, dù lĩnh vực quốc doanh hay tư nhân 10 forward exchange Interface Means of interaction between two computer devices or systems that handle data (e.g., formats, codes) differently An interface is a device that converts signals from one device into signals that the other device needs Internal rate of return (IRR) Rate earned on a proposal It is the rate of interest that equates the initial investment with the present value of future cash inflows International banking facility (IBF) Special departments of U.S banks that are free to accept dollar deposits and make loans to foreign residents without reserve requirements or interest rate regulations They are permitted so that U.S banks can pursue business in the Eurodollar market Internet International network connecting smaller networks linking computers of different entities Intranet Internal company Web site It is developed by the company itself Inventory status file File indicating how much inventory is on hand or on order Inventory turnover The number of times inventory is sold during the year It equals cost of goods sold divided by the average dollar balance Average inventory equals the beginning and ending balances divided by two ISO 9000 Certification standards developed by the International Organization for Standardization (ISO) that serve as a basis for quality standards for global manufacturers JIT manufacturing Manufacturing approach that produces only what is necessary to satisfy the demand of the preceding process (a demand-pull system) Job design Determination of specific job tasks and responsibilities, the work environment, and work methods Johnson's rule Technique that can be used to minimize the completion time for a group of jobs that are to be processed on two machines or at two successive work centers Joint tenancy Undivided ownership of property where the surviving tenant succeeds to the ownership interest of the deceased tenant with the deceased tenant having no opportunity to pass his or her interest to someone else by will Joint venture The sharing of risk and responsibility with a firm in a foreign country Just-in-time (JIT) A demand-pull system where demand for customer output (not plans for using input resources) triggers production Production activities are "pulled," not "pushed," into action Just-in-time production Approach to manufacturing in which items are produced only when needed in production Kanban Japanese information system for coordinating production orders and withdrawals from in-process inventory to realize just-in-time production Lagging Delaying payment or receipt of a foreign currency until there 554 is an offsetting transaction for the purpose of reducing transaction exposure Law of one price An equilibrium between the price of a tradable good in one country and its price in another country Arbitrage ensures that the prices are equivalent when translated at the current exchange rate Lead time Time between the placing of an order and its receipt in the inventory system Leading Accelerating payment or receipt of a foreign currency until there is an offsetting transaction for the purpose of reducing transaction exposure Learning curve effect Reduction in labor hours as the cumulative production doubles, ranging typically from 10 percent to 20 percent Least-squares method Statistical technique for fitting a straight line through a set of points in such a way that the sum of the squared distances from the data points to the line is minimized Letter of credit A contractual commitment by a bank to make payment for goods shipped to an importer This eliminates the exposure of exporters to credit risk Level plan Aggregate production plan that maintains a uniform output rate LIBOR (London interbank offer rate) An interbank market interest rate in Eurocurrency deposits lent by banks to one another Many loans have interest rates tied to LIBOR Licensing A procedure whereby a foreign firm permits a domestic firm to produce and market goods on its behalf in return for royalties on sales or a share of profits Life-cycle costing Estimates of a product's revenues and expenses over its expected life cycle The result is to highlight upstream and downstream costs in the cost planning process that often receive insufficient attention Emphasis is on the need to price products to cover all costs, not just production costs Line balancing Process of distributing the workloads evenly Linear programming (LP) Mathematical technique designed to determine an optimal decision (or an optimal plan) chosen from a large number of possible decisions Linear regression variables Regression that deals with a straight line relationship between Link financing A financing technique where banks arrange for two firms in two countries to borrow each other's currency and then make an offsetting arrangement to pay off each other's loan at maturity This eliminates their exposure to exchange rate changes Local area network (LAN) Linking of computers and other devices for intersite and intercompany applications in a small geographic area Locational break-even analysis Technique that compares potential locations on an economic basis by estimating the variable and fixed costs and then graphing them for a representative sales or production volume at each location 555 Lockbox A box in a U.S Postal Service facility, used to facilitate collection of customer remittances The use of a lock box reduces processing float The recipient's local bank collects from these boxes periodically during the day and deposits the funds in the appropriate corporate account Logo A symbol, design, picture, or any figure that represents an individual or firm Trademarks, unique trade names, or associated sounds are all "logotypes." Long-range objectives Specification of the results desired in pursuing the organization's mission and normally extend beyond the current fiscal year of the organizations Loss leaders Items priced to attract customers who will then purchase other standardor high-profit margin items Make-buy (outsource) decision Decision as to whether a given item should be manufactured internally or purchased outside Managed float A description of a government policy that allows market forces to determine a currency's exchange rate but does not rule out government efforts to influence these market forces Management information system (MIS) A computer based or manual system that transforms data into information useful in the support of decision making Manufacturing resource planning (MRP II) Integrated information system that steps beyond first generation MRP to synchronize all aspects (not just manufacturing) of the business Market analysis A study of the size, location, nature, and characteristics of markets Market-buildup method A method of estimating the revenue potential of an industrial market by identifying the number of potential buyers in the market and the purchase requirements of each Market efficiency The degree to which market determined prices accurately reflect the true economic value of assets Market research The systematic, objective, and exhaustive search for, and study of, the facts relevant to any problem in the field of marketing For a detailed listing of components, see Marketing research Market segmentation Individuals clustered into recognizable groupings based on common characteristics such as age, sex, income, or geographic location Products or services are designed to satisfy that segment of the total market Marketing Basically a bridge between production and consumption that directs the flow of goods and services to the consumer It also contributes to the recognition of consumer needs and their eventual satisfaction Marketing data bank An organized record of all data generated by a marketing information system and market research activities See also Marketing research Marketing information system (MIS) A systematized procedure for collecting, processing, implementing, and following up on all activities related to the marketing 556 function Marketing mix The combination of the four Ps (product, price, promotion, and place) that best meets the needs of the consumer and that should result in some desired sales/profit objective Marketing research A systematic approach to gathering and accessing quantitative and qualitative market information Serves as a basis for policy and decision making concerning new programs or the evaluation of existing ones Marketing strategy A selected combination and pre determined mix of the four Ps (product, price, promotion, and place) as applied to any marketing function, good, or service Master production schedule (MPS) Time-phased statement of how many finished items are to be manufactured It is obtained by disaggregating the production plan and is the primary input to material requirements planning (MRP) Material requirements planning (MRP) Computerized data processing system whose function is to schedule production and control the level of inventory for components with dependent demand Mean absolute deviation (MAD) Mean or average of the sum of all the forecast errors with regard to sign Mean squared error (MSE) Average sum of the variations between the historical sales data and the forecast values for the corresponding periods Merchandising Efforts by: (1) manufacturers and wholesalers to encourage sales promotion activities by retailers, (2) marketers to influence consumers at the point of sale by other than personal selling, and (3) marketers to plan the best marketing mix to stimulate consumption Milline rate A hypothetical cost standard established by dividing the population reached into the cost of one agate line times 1,000,000 Cost agate X million is the population formula used as a basis for comparing advertising costs among media Mission A statement that defines an organization's line or lines of business, identifies its products and services, and specifies the markets it serves at present and in a time frame of three to five years Model Representation of a real-life system Modified accelerated cost recovery system (MACRS) The system used in computing annual depreciation for assets acquired in 1987 Modular design Design of components that can be assembled in a variety of ways to meet individual consumer needs Monetary policy The efforts of a nation's central bank aimed at influencing inflation rates, economic growth, and interest rates by varying the supply of money Monetary/non-monetary method An accounting procedure for translating accounting statements from one currency to another This method specifies that monetary assets 557 and liabilities be translated at current exchange rates, whereas non-monetary assets and liabilities be translated at historic exchange rates Money market hedge Elimination or reduction of a firm's transaction exposure by simultaneously borrowing in one currency and lending in another currency Monte Carlo technique A simulation method to generate random values for a variable Mortgage The most common device for obtaining a security interest in real property Motion study Analysis of a manual task in order to improve productivity Motivation research Application of psychological and other probing techniques to obtain a better understanding of why people respond as they to products, advertisements, and other marketing stimuli The in-depth interview is one technique Multidimensional scaling A statistical technique for evaluating the overall image of a marketing unit Multilateral netting A method of reducing transaction exposure that offsets receipts in one currency with payments in other currencies that have values that are highly correlated with it Multinational marketing The application of a common global strategy or policy within individual international segments Multiple branding The opposite of family branding Each individual item in a product line is given its own brand identity Multiple-channel line Waiting line with two or more parallel identical servers Multiple factor method A method that combines "factors" that explain the market potential, such as demographics and culture Multiple regression analysis Statistical procedure that attempts to assess the relationship between the dependent variable and two or more independent variables Multitasking Simultaneous execution of two or more computer functions Murphy's Law “ If anything can go wrong, it will.” Mutually exclusive projects A set of projects that perform essentially the same task, so that acceptance of one will necessarily mean rejection of the others Needs Physiological or psychological drives that move one toward a particular course of action Similar to wants and motives Negligence The failure to use due care to avoid foreseeable injury that might be caused to another person or property as a result of the failure to exercise due care Negotiation The transfer of an instrument in such a manner that the transferee of the instrument becomes a "holder." Net present value (NPV) A capital-budgeting concept defined as the present value of the project's annual net cash flows after tax less the project's initial outlay Netting A procedure used by multinational firms to reduce the costs of hedging transaction exposure It relies on the principle of netting inflows and outflows of 558 currencies Network (1) interconnected nodes (points where working units interact, or link, with others (2) connection of computers and devices Neural networks A technology in which computers actually try to learn from the database and operator what the right answer is to a question The system gets positive or negative response to output from the operator and stores that data so that it will make a better decision the next time While still in its infancy, this technology shows promise for use in fraud detection, accounting, economic forecasting, and risk appraisals Nodes Intersection or junction points of a network Noise (advertising) The effect of competing advertising on a given firm's advertising efforts Goodrich's use of Goodyear's blimp in its commercials creates "noise" Nolo contendere A plea of no contest to a legal charge, usually resulting in an agreement between the two parties Odd pricing The setting of prices below even dollar values, such as $3.97 or $1.86 Odd prices may be perceived as lower by consumers Clerks are required to make change, thus enhancing case control OECD (Organization for Economic Co-operation and Development) A group of the major Western economic powers that cooperates to improve international economic development Offer A proposal made by one person to another Operating characteristic (OC) curve Plot of the probability of acceptance of a lot as a function of the percent of defective items Operating cycle The average time period between buying inventory and receiving cash proceeds from its eventual sale It is determined by adding the number of days inventory is held and the collection period for accounts receivable Operating leverage The degree to which the firm chooses to lock in fixed costs other than financing costs Operation chart Often called right-handed, left-handed chart, chart used to describe simultaneous motions of hands when performing a task Operations Set of all activities associated with the production of goods and services Operations management (OM) Also called production/operations management, design, operation, and improvement of the productions/operations system that creates the firm's primary products or services Operations strategy Strategy specifying how the firm will employ its production capabilities to support its corporate strategy Opportunity cost The revenue forfeited by rejecting an alternative use of time or facilities Organizational culture The collective assumptions and beliefs held by an organization's employees that shape the behavior of individuals and groups in the 559 organization Payback period Length of time required to recover the amount of an initial investment Penetration pricing The setting of a new product or service price at a low level to discourage competition and build market loyalty Personal consumption Household spending on consumer goods Personal defenses Defenses that not go to the validity of the instrument, but rather represent reasons why the promisor of a contract would not have to fulfill part or all of his or her promise to the original promisee of the contract Personal income A measure of income available to households PERT/cost Also known as the Critical Path Method (CPM), technique designed to assist in the planning, scheduling, and controlling of project costs Petrodollars Dollars revenues of oil-producing nations that are deposited with banks in the Eurodollar market Political risk Variability in the value of a foreign investment that is caused by political factors ranging from tax rate changes to expropriation Portfolio A group of securities held in order to reduce risk by diversification Portfolio risk The amount of variability in the average return on a portfolio Positioning A term related to the identifying of specific market segment needs and then designing a specific product or service to fit the niche Predatory pricing Pricing of items in a way that eliminates competitors A large grocery chain could enter a small market and price small competitors out of business and then raise prices to regain losses Price index A means to measure changes in the general price level over time by comparing the cost of specified items Price/earnings ratio (PIE) The price the market places on $1 of a firm's earnings For example, if a firm has an earnings per share of $2, and a stock price of $30, its price/earnings ratio is 15 ($30 + $2) Price-to-book ratio (P/B) Share price divided by book value of equity per share Priority rules Simple heuristics used to select the order in which the jobs will be processed Process layout Layout in which machines or activities are arranged by function Process planning Planning involving a total analysis of the product and its processing requirements, decisions concerning the purchase of items outside versus their internal manufacture, and techniques for selecting among competing processes Process selection When operations can be performed by more than one process, an economic analysis should normally be made to determine which process should be chosen Product analysis Analysis of product assembly The early phases of product 560 analysis may produce diagrams that "explode" the product into its various subassemblies and parts These diagrams may be pictorial or schematic Product differentiation The adding of extra or different characteristics to separate one firm's goods or services from those of competitors Product layout Layout in which equipment is arranged based on the sequence of operations performed on a product or group of products Product life cycle The stages of product evolution, including research and development, introduction, growth, maturity and decline, and the marketing activities related to each stage Product planning The activities of manufacturers and intermediaries that are designed to adjust the merchandise produced, or offered for sale, to consumer demand Production and operations management Management of all activities directly related to the production of goods and services Production design The conscious effort to design for low manufacturing cost Productivity Ratio of outputs to inputs Profit impact marketing strategies (PIMS) A model for estimating the impact on profit of a change in the marketing mix Projected (budgeted) balance sheet A schedule for expected assets, liabilities, and stockholders' equity It projects a company's financial position as of the end of the budgeting year Reasons for preparing a budgeted balance sheet follow: (1) discloses unfavorable financial condition that management may want to avoid; (2) serves as a final check on the mathematical accuracy of all other budgets; and (3) highlights future resources and obligations Projected (budgeted) income statement A summary of various component projections of revenues and expenses for the budget period It indicates the expected net income for the period Promotional blend The final result of expenditure decisions on how the budget will be allocated among the items on the promotional mix See also Promotional mix Promotional mix A strategic combination of advertising, personal selling, sales promotion, publicity, and other promotional tools employed to achieve sales objectives Property (or ownership of property) A bundle of rights that includes, among others, the exclusive right to possess, use, and dispose of objects or rights having economic value Prospecting The act of searching for new customers Public Company Accounting Oversight Board (PCAOB) Established in 2002 as a result of the Sarbanes-Oxley Act, a private sector, non-profit corporation set up to oversee the audits of public companies and ensure that accountancy firms should no longer derive nonaudit revenue streams, such as consultancy, from their audit 561 clients See www.pcaobus.com Purchasing power parity An equilibrium condition in which changes in exchange rates reflect changes in the underlying values of currencies as a result of different inflation rates Quality Measure of conformance of a product or service to certain specifications or standards Quality assurance All of the activities necessary to ensure that the customer receives satisfactory performance Quality function deployment (QFD) System that uses interfunctional teams from marketing, design engineering, and manufacturing to translate the voice of the customer into the design specification of a product Quantity discount model Inventory model that takes into account the price varying with the order size Queue Waiting line that forms wherever there is more than one user of a limited resource Queue discipline Rules that determine the order in which arrivals are serviced Queuing (or waiting line) theory Operations research term for the study of waiting lines Quick ratio Quick assets divided by current liabilities, also called acid test It is a measure of liquidity Quote A listed price at which a currency can be bought and sold Random sampling In a truly random sample each unit in the population has an equal chance of being included; the random sample accurately reflects characteristics of its population Rate of return on investment (ROI) (1) for the company as a whole, net income after taxes divided by invested capital (2) for the segment of an organization, net operating income divided by operating assets (3) for capital budgeting purposes, also called simple, accounting, or unadjusted rate of return , expected future net income divided by initial (or average) investment Ratification The subsequent adoption of an act done by another person who was not authorized a t the time it was performed, although that person was purporting to act as an agent A partnership is an organization created for the purpose of carrying on a business for profit Real defenses Defenses that, in general, go to the validity of the instrument at its inception and that render it a nullity Rebate An amount returned from a payment: a deduction or discount upon payment Recession A decline in GDP that lasts for at least two consecutive quarters Regression analysis Statistical procedure for estimating mathematically the average relationship between the dependent variable (sales, for example) and one or more 562 independent variables (price and advertising, for example) Reliability Probability that a product or process will perform satisfactorily over a period of time under specified operating conditions Reorder point Inventory level that triggers a new order Reporting currency The currency of the parent firm into which a foreign subsidiary's financial statements must be translated under ASC 830-10-1 (FAS-52) Repositioning The adjustment of an existing good 's characteristics to differentiate it from competitors or other items in a product line See also Market segmentation Residual income (RI) The operating income that an investment center is able to earn above some minimum return on its assets It equals operating income less the minimum rate of return times total assets Responsibility accounting The collection, summarization, and reporting of financial information about various decision centers (responsibility centers) throughout an organization; also called activity accounting or profitability accounting Return on equity (ROE) Earnings after tax (EAT) divided by owners' equity A measure of the firm's profitability to shareholders Revaluation An increase in the foreign currency value of a currency Risk (1) term used to describe a situation in which a firm makes an investment that requires a known cash outlay without knowing the exact future cash flow the decision will generate (2) the chance of losing money (3) the possible variation associated with the expected return measured by the standard deviation or coefficient of variation Risk premium The difference between the expected return on a security and the riskfree rate See also Capital asset pricing model Risk-return trade-off A comparison of the expected return from an investment with the risk associated with it The higher the risk undertaken, the more ample the return Conversely, the lower the risk, the more modest the return Rough-cut capacity planning Analysis of the master production schedule to determine the feasibility with respect to capacity limitations (warehouse facilities, equipment, labor, etc.) R-squared See Coefficient of determination Safety stock Inventory carried to assure that the desired service level is met Sales management The activity of directing the sales effort It includes hiring, training, motivating, and coordinating the sales force in accordance with a firm's objectives Sales mix The relative proportions of the product sold Sarbanes-Oxley (SOX) Act Wide-ranging U.S corporate reform legislation, coauthored by the Democrat in charge of the Senate Banking Committee, Paul 563 Sarbanes, and Republican Congressman Michael Oxley The act, which became law in July 2002, lays down stringent procedures regarding the accuracy and reliability of corporate disclosures, places restrictions on auditors providing non-audit services, and obliges top executives to verify their accounts personally Section 409 is especially tough and requires that companies must disclose information on material changes in the financial condition or operations of the issuer on a rapid and current basis Scheduling Assignment of work to a facility and the specification of the sequence and timing of the work Segment margin Contribution margin less direct (traceable) fixed costs Segmental reporting The presentation of financial information, such as profitability, by a major business segment, including the product, major customer, division, department, and responsibility centers within the department Sensitivity analysis A form of risk analysis that shows the effect on financial variables of changes in factors whose future economic value is uncertain Sequencing Determination of the order in which a facility is to process a set of jobs Service level Probability of no stockouts during the lead time Service rate Number of customers or units that can be serviced by one server in a given period of time Simple regression Regression analysis that involves one independent variable Simplex method Linear programming algorithm, which is an iteration method of computation, to move from one corner point solution to another until it reaches the best solution Simulation An attempt to represent a real-life system via a model to determine how a change in one or more variables affect the rest of the system, also called what-if analysis Single-channel line Waiting line with only one server Sinking fund A required annual payment that allows for the periodic retirement of debt Slack Length of time an activity can be delayed without affecting the project completion date Sovereign risk Variability in the value of a foreign firm or investment that results from uncertainty about future government action It is also called political or country risk Spot rate The price at which a currency can be purchased or sold and then delivered within two business days Spreadsheet Table of numbers arranged in rows and columns to make accounting, finance, marketing, and other business calculations Spreadsheets facilitate end-result summary numbers, "what-if" experimentations, and projections Standard cost system A system by which production activities are recorded at standard costs and variances from actual costs are isolated Static (fixed) budget A budget based on the anticipated output level rather than on the 564 actual attained output level Stock dividend A distribution of shares of up to 25 percent of the number of shares currently Stock split A stock dividend exceeding 25 percent of the number of shares currently outstanding Strategic business units Operating units in an organization each of which sells a distinct set of products or services to an identifiable group of customers in competition with a well-defined set of competitors Strategic management The process by which top management determines the longrun direction and performance of the organization by ensuring that careful formulation, effective implementation, and continuous evaluation of the strategy takes place Strategy formulation The making of decisions to define an organization's philosophy and mission, establish objectives, and select the strategy to be used in achieving the objectives Strategy implementation The making of decisions with regard to matching strategy and organizational structure and developing budgets, functional strategies, and motivational systems Superstore A retail unit in size between a supermarket and a hypermarket Usually located in a shopping center and carrying a wide range of goods and household items on a self-service basis Supply chain management Management of the integration of the functions, information, and materials that flow across multiple firms in a supply chain-i.e., buying materials, transforming materials, and shipping to customers Syndicate A group of investors (usually commercial or investment banks) that participate jointly in purchasing and selling assets (generally financial assets) Synergism The whole is greater than the sum of the individual inputs when performed collectively Systematic layout planning Generalized approach to layout that indicates nearness priorities, taking into account factors other than transportation cost Systematic risk Risk that remains despite the risk reduction property of diversification Measured with the beta coefficient; also called market risk, nondiversifiable, or undiversifiable risk See also Capital asset pricing model Target costing A method of determining the cost of a product or service based on the price that the customers are willing to pay It is a Japanese method of determining the maximum available cost of a product before it is designed, engineered, or produced by subtracting an acceptable rate of profit margin from a projected selling price Tenancy by the entirety A joint tenancy with the right to survivorship in which the tenants must be husband and wife Tenants in common Co-owners of real property, whose undivided ownership of the 565 property passes on their deaths to their heirs or devisees Term structure of interest rates The relationship between interest rates and the term to maturity, where the risk of default is held constant Terminal Input-output device allowing a user to communicate directly with a computer Therblig One of seventeen elementary human motions such as grasp, select, assemble, and so on There are four different perspectives: (1) the financial perspective, (2) the customer perspective, (3) the process perspective, and (4) the learning and growth perspective Throughput Rate at which money is generated by the system through sales Time series forecasting The use of past data to build projections for the future Series of seasonal data are popular data sources Time standard Amount of time required to perform a task by a trained operator working at a normal pace and using a prescribed method Time study Development of standards through stopwatch observation Time value of money The value of money at different time periods As a rule, one dollar today is worth more than one dollar tomorrow The time value of money is a critical consideration in financial decisions Times interest earned ratio Earnings before interest and taxes (EBIT)/interest expense A ratio that measures the firm's ability to meet its interest payments from its annual operating earnings Title VII Statute in the Federal Civil Rights Act of 1964 that prohibits discrimination in the hiring, firing, promotion, compensation, or any other aspect of employment because of a person 's race, color, religion, sex, or national origin Tort A private wrong against a person or his/her property Total leverage A measure of total risk, referring to how earnings per share is affected by a change in sales It equals the percentage change in earnings per share divided by the percentage change in sales Total leverage at a given level of sales is the operating lever age multiplied by the financial leverage Total quality control (TQC) manufacturing process Philosophy that aggressively strives for a defect-free Total quality management (TQM) Concept of using quality methods and techniques to strategic advantage within firms Transaction exposure Variability in the domestic currency value of a known future receipt of foreign currency Translation exposure Changes in reported net income and net worth that are caused by changes in exchange rates used to translate accounting statements in foreign currencies Transportation LP problem Problem of determining how much to ship from each origin to each destination in order to minimize total shipping costs Trend analysis Special form of simple regression in which time is the independent 566 variable Unemployment rate Percent of the labor force that is unemployed Uniform commercial code A set of laws to regulate commercial activities to benefit and protect both buyers and sellers Unit contribution margin Selling price minus average variable cost Universal product code (UPC) A coding system for visual scanners used at checkout or point-of-purchase locations to electronically record price and content information Utility program Program supporting the processing of a computer such as diagnostic and tracing programs Variance In cost analysis, the deviation between the actual cost and the standard cost Warranties Contractual grounds for this liability, whereas negligence and strict liability are usually considered to be tort grounds for it Weighted average An average in which the numbers to be averaged are assigned certain values or weights Weighted averages are frequently used to construct index numbers Weighted cost of capital A composite of the individual costs of financing incurred by each capital source A firm's weighted cost of capital is a function of (1) the individual costs of capital, (2) the capital structure mix, and (3) the level of financing necessary to make the investment Wi-Fi Short for "wireless fidelity," the popular term for a high-frequency wireless local area network Wi-Fi technology is rapidly gaining acceptance in many companies as an alternative to a wired LAN It can also be installed for a home network Windfall profit Earnings "normal” or profit in excess of that planned or expected or Wireless technology A variety of technologies to communicate without wires, namely radio transmissions Examples are cellular, microwave, infrared, and satellite W-LAN One in which a mobile user can connect to a local area network (LAN) through a wireless (radio) connection A standard, 802.11, specifies the technologies for wireless LANs Work measurement Process of estimating the amount of worker time required to generate one unit of output Work sampling Work measurement technique involving the sampling of the nature of the activity in which the worker is involved; used for the broader problem of determining production standards Workers' compensation A law, found in all states, requiring employees to relinquish their right to sue their employers for accidental death, injury, or disease arising from or during the course of their employment and, inversely, provides compensation to workers for damages Working capital A concept traditionally defined as a firm's investment in current 567 assets Net working capital refers to the difference between current assets and current liabilities World Wide Web (WWW) Internet system for worldwide hypertext linking of multimedia documents, making the relationship of information that is common between documents easily accessible and completely independent of physical location XBRL See Extensible business reporting language (XBRL) Yankee bond A bond that is denominated in dollars and sold in the United States by foreign firms Zero coupon bond A bond that pays no coupon interest Because they sell at a deep discount, they appreciate as they approach maturity, when they pay their face value 568