DECA - PBM EXAM STUDY GUIDE
Touchpoints - Answers -all of the opportunities that a company has to connect with its
customers and reinforce its brand value
Retailing - Answers -selling products
trademarks - Answers -symbols, designs, or words used by producers to identify goods
or services
cultural imperialism - Answers -Businesses in some countries, especially more
developed ones, may have an attitude that their approach, tastes, or preferences are
"better" than those of other countries, particularly less developed ones
authoritarian - Answers -Authoritarian leaders give very few, if any, decision-making
responsibilities to employees
installment loan - Answers -Loans that must be paid back in regular installments over a
certain amount of time at a specified rate of interest
gross wages - Answers -the total income earned for the pay period before income
taxes and other deductions are subtracted from the wages
probate - Answers -Legal process by which a court determines who will inherit a
deceased person's property and what the assets of the estate are
revenues - Answers -income or money that flows into the business from activities such
as sales
living trust - Answers -a legal arrangement that can serve as an alternative to a will
living will - Answers -a legal document that outlines a person's wishes for medical
treatment under specific circumstances
Steps in the hiring process - Answers -determining needs, recruiting, interviewing, &
hiring
Product/Service management - Answers -involves obtaining, developing, maintaining,
and improving a product mix in response to market opportunities
Marketing-information management - Answers -a marketing function, which involves
gathering, accessing, synthesizing, evaluating, and disseminating information for use in
making business decisions such as what and how much it can expect to sell
, Integrated software application packages - Answers -allow businesses to manage all
types of business activities, such as inventory control, finance, tracking, invoicing, etc
Operations activities are most closely related to a business's... - Answers -products
Product innovation - Answers -occurs when a business either creates or improves a
product
Process innovation - Answers -focuses on how something is done
Positioning innovation - Answers -occurs when the purpose of a product is changed
Paradigm innovation - Answers -occurs when there is a significant change in thinking
Entry-level jobs - Answers -provide a starting point for an individual interested in
pursuing a particular career (basic job experience)
General partnership - Answers -A business owned by two or more persons who have
unlimited liability
sole proprietorship - Answers -A business owned by one person
organization - Answers -2 or more people with a common goal, same definition as
"team"
corporation - Answers -a form of business ownership in which a group of individuals is
organized by a charter granted by the state
customer didn't pick up an important phone call - Answers -- offer to schedule a second
call
- It is your responsibility to return the call rather than ask the customer to call you
Pie charts - Answers -often used when comparing parts of a whole
Bar graphs - Answers -used to show changes over time or to compare figures between
different groups
Line graphs - Answers -show changes over short and long time periods
Area graphs (like line graphs) - Answers -- often used to show changes over time
- Area graphs can show one or more groups
email signature - Answers -Text appearing at the bottom of an email that indicates a
person's or business's identity and contact information
Touchpoints - Answers -all of the opportunities that a company has to connect with its
customers and reinforce its brand value
Retailing - Answers -selling products
trademarks - Answers -symbols, designs, or words used by producers to identify goods
or services
cultural imperialism - Answers -Businesses in some countries, especially more
developed ones, may have an attitude that their approach, tastes, or preferences are
"better" than those of other countries, particularly less developed ones
authoritarian - Answers -Authoritarian leaders give very few, if any, decision-making
responsibilities to employees
installment loan - Answers -Loans that must be paid back in regular installments over a
certain amount of time at a specified rate of interest
gross wages - Answers -the total income earned for the pay period before income
taxes and other deductions are subtracted from the wages
probate - Answers -Legal process by which a court determines who will inherit a
deceased person's property and what the assets of the estate are
revenues - Answers -income or money that flows into the business from activities such
as sales
living trust - Answers -a legal arrangement that can serve as an alternative to a will
living will - Answers -a legal document that outlines a person's wishes for medical
treatment under specific circumstances
Steps in the hiring process - Answers -determining needs, recruiting, interviewing, &
hiring
Product/Service management - Answers -involves obtaining, developing, maintaining,
and improving a product mix in response to market opportunities
Marketing-information management - Answers -a marketing function, which involves
gathering, accessing, synthesizing, evaluating, and disseminating information for use in
making business decisions such as what and how much it can expect to sell
, Integrated software application packages - Answers -allow businesses to manage all
types of business activities, such as inventory control, finance, tracking, invoicing, etc
Operations activities are most closely related to a business's... - Answers -products
Product innovation - Answers -occurs when a business either creates or improves a
product
Process innovation - Answers -focuses on how something is done
Positioning innovation - Answers -occurs when the purpose of a product is changed
Paradigm innovation - Answers -occurs when there is a significant change in thinking
Entry-level jobs - Answers -provide a starting point for an individual interested in
pursuing a particular career (basic job experience)
General partnership - Answers -A business owned by two or more persons who have
unlimited liability
sole proprietorship - Answers -A business owned by one person
organization - Answers -2 or more people with a common goal, same definition as
"team"
corporation - Answers -a form of business ownership in which a group of individuals is
organized by a charter granted by the state
customer didn't pick up an important phone call - Answers -- offer to schedule a second
call
- It is your responsibility to return the call rather than ask the customer to call you
Pie charts - Answers -often used when comparing parts of a whole
Bar graphs - Answers -used to show changes over time or to compare figures between
different groups
Line graphs - Answers -show changes over short and long time periods
Area graphs (like line graphs) - Answers -- often used to show changes over time
- Area graphs can show one or more groups
email signature - Answers -Text appearing at the bottom of an email that indicates a
person's or business's identity and contact information
