Business Terms

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Across
  1. 3. The practice of spreading investments or business activities across different areas to reduce risk.
  2. 5. Production A manufacturing method that involves making custom, one-of-a-kind items to meet specific customer orders.
  3. 8. Risk The potential for negative publicity, public perception, or uncontrollable events to have an adverse impact on a company's reputation.
  4. 10. Production A manufacturing method where items are made in groups or batches, rather than continuously.
  5. 12. payable Definition Money a company owes to its suppliers or creditors for goods or services received but not yet paid for.
  6. 17. Individuals or companies that create goods or services for consumers.
  7. 18. Risk The risk of loss resulting from inadequate or failed internal processes, people, and systems, or from external events.
  8. 21. Production A manufacturing method that involves creating large quantities of standardized products using assembly lines and specialized machinery.
  9. 22. records Documents that show a business's financial activities and performance.
  10. 25. budget A budget that covers day-to-day expenses and income of a business.
  11. 27. Management Plan A plan that outlines how an organization will respond to a major event that threatens to harm the organization, its stakeholders, or the general public.
  12. 29. Controls Processes and procedures put in place within an organization to ensure the integrity of financial and accounting information and prevent fraud.
  13. 34. Inventory A strategy where materials are ordered and received only as they are needed in the production process, reducing storage costs and waste.
  14. 35. budget A budget that plans for long-term investments and major purchases in a business.
  15. 36. Compensation A form of insurance that provides wage replacement and medical benefits to employees injured in the course of employment.
  16. 37. Systems Software that helps businesses manage and integrate various aspects of their operations, from production to finance to human resources.
  17. 39. statement A financial report that shows a company's revenues and expenses over a period of time.
  18. 40. decisions Choices a business makes about how to get money to fund its operations and investments.
  19. 41. Management Keeping track of raw materials, work-in-progress, and finished goods to ensure enough stock to meet demand without wasting resources.
  20. 42. The process of calculating and distributing employee wages, including taxes and other deductions.
Down
  1. 1. Production The process of creating goods or services that can be sold to customers.
  2. 2. decisions Choices a business makes about whether to give some of its profits to shareholders or use the money to grow the business
  3. 4. The state of being legally responsible for something.
  4. 6. A financial plan that shows expected income and expenses for a specific time period, usually a year.
  5. 7. Control Monitoring production processes to ensure that products meet the required standards of quality.
  6. 9. decisions Choices a business makes about where to put its money to earn more in the future.
  7. 11. Risk The risk of legal or regulatory sanctions, material financial loss, or loss to reputation a company may suffer as a result of its failure to comply with laws and regulations.
  8. 13. flow statement A financial report that shows how changes in balance sheet accounts and income affect cash and cash equivalents.
  9. 14. pay The total amount of money an employee earns before taxes and other deductions are taken out.
  10. 15. sheet A financial report that shows a company's assets, liabilities, and owner's equity at a specific point in time.
  11. 16. Risk A risk that insurance companies won't cover because it's too uncertain or likely to result in a loss.
  12. 19. receivable Definition Money owed to a company by its customers for goods or services delivered but not yet paid for.
  13. 20. The amount of money paid regularly to an insurance company for an insurance policy.
  14. 23. Manufacturing A production approach that focuses on minimizing waste and maximizing efficiency in the production process.
  15. 24. Strategies Actions taken to reduce the impact or likelihood of a risk occurring.
  16. 26. An official inspection of an organization's accounts and processes, typically by an independent body.
  17. 28. A form of risk management that transfers certain risks from a business to an insurance company in exchange for payment (premium).
  18. 30. flow budget A budget that tracks the movement of money in and out of a business.
  19. 31. Sigma A set of techniques and tools for process improvement, aimed at reducing defects and variations in production.
  20. 32. Chain Management Coordinating the flow of goods, information, and finances from suppliers to manufacturers to retailers and finally to consumers.
  21. 33. Management Software Tools that help businesses plan, track, and manage various projects and tasks related to their operations.
  22. 38. Risk The possibility of losing money or not having enough funds to operate a business.
  23. 43. Management The process of identifying, assessing, and controlling threats to an organization's capital and earnings.