WGU C201 Business Acumen
Custom Glossary | Latest 2024
Data
Raw facts and figures that may or may not be relevant to a
business decision
Data mining
Computer searches of customer data to detect patterns and
relationships
Data warehouse
Customer database that allows managers to combine data from
several different organizational functions
Database
Centralized integrated collection of data resources
Decentralization
Decision makeup based at lower levels of the organization
Decision support system (DSS)
,Gives direct support to businesspeople during the decision-
making process
Deflation
Opposite of inflation, occurs when prices continue to fall
Delegation
Managerial process of assigning work to employees
Demand
Willingness and ability of buyers to purchase goods and services
Botnet
A network of pcs that have been infected with one or more data-
stealing viruses
Brand
Name, term, sign, symbol, design, or some combination that
identifies the products of one firm and differentiates them from
competitors' offerings
Brand equity
,Added value that a respected and successful name gives to a
product
Brand name
Part of the brand consisting of words or letters included in a name
used to identify and distinguish the firm's offerings from those of
competitors
Breakeven analysis
Pricing-related technique used to determine the minimum sales
volume a product must generate at a certain price level to cover
all costs
Budget
Organization's plan for how it will raise and spend money during a
given period of time. A planning and controlling tool that reflects
the firm's expected sales revenues, operating expenses, and
cash receipts and outlays
Budget deficit
, Situation in which the government spends more than the amount
of money it raises through taxes
Budget surplus
Excess funding that occurs when government spends less than
the amount of funds raised through taxes and fees
Business (B2B) product
Good or service purchased to be used, either directly or indirectly,
in the production of other goods for resale
Business intelligence
Activities and technologies for gathering, storing, and analyzing
data to make better competitive decisions
Capital structure
Mix of a firm's debt and equity capital
Capitalism
Economic system that rewards firms for their ability to perceive
and serve the needs and demands of consumers; also called the
private enterprise system
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