Numeric

12B-1 FEE: A mutual fund’s ongoing charge for promotion

401(K) PLAN: An employee-sponsored, tax-deferred retirement plan (QS LAP 41)

403(B) PLAN: A tax-deferred retirement plan available to employees of non-profit organizations (QS LAP 41)

457 PLAN: A tax-deferred retirement plan available to state and local government employees (QS LAP 41)

A

ABC METHOD: A system of classifying stock according to its contribution to company profits; "A" items contribute most, "B" items less, and "C" items least of all (DS LAP 3)

ABC PRINCIPLE: A method used to rank goals in order of importance; goals identified with an "A" are most important, "B" signifies somewhat important, and "C" represents least important (PD LAP 1)

ABILITIES: Capacities to perform tasks, functions, etc. (HR LAP 2, HR LAP 12)

ABSOLUTE ADVANTAGE: The advantage achieved when a nation can produce a good or service at a lower cost than another nation (EC LAP 4)

ABSTRACT: Theories or words that describe things which are not objects and may have different meanings to different people, such as hope or happiness (PD LAP 2, QS LAP 7, QS LAP 12)

ACCEPTANCE: Approval or tolerance of all people, regardless of their behavior or performance (EI LAP 41, QS LAP 7)
A risk-response strategy that involves accepting a risk’s consequences because the potential payoff is higher than the losses; also known as risk retention or assumption (SM LAP 75)

ACCEPTANCE SAMPLING: Inspecting a random sample of products to determine whether to accept or reject the entire batch (OP LAP 8)

ACCESSORIES: Goods or services that complement others (SE LAP 117)

ACCIDENT: An unexpected happening that may result in injury, loss, or damage (RM LAP 3)

ACCIDENT REPORT FORM: A form completed by employees and/or supervisors to report specific details of workplace accidents (RM LAP 3)

ACCOMMODATING: A negotiating style involving a person who agrees to a certain course of action that benefits someone else, even though s/he does not equally benefit for the transaction (EI LAP 62, QS LAP 3)

ACCOUNTANT: An individual who has had specialized training in accounting procedures (Career Opps in Finance, FI LAP 85)
A person who prepares, analyzes, and verifies a variety of financial data (QS LAP 51)

ACCOUNTABILITY: The condition of having to answer for or be liable for your actions; accepting responsibility for your decisions (EC LAP 106, EI LAP 21, EI LAP 45, EI LAP 92, EI LAP 123, EI LAP 124, EI LAP 125, EI LAP 128, EI LAP 129, EI LAP 132, EI LAP 138, OP LAP 531)
Accepting responsibility for all decisions (FI LAP 355, OP LAP 675)
Accepting responsibility for your decisions (RM LAP 41)
The condition of having to answer for or be liable for your actions (EI LAP 60, EI LAP 127)
A willingness to answer for or be liable for your actions; accepting responsibility for your decisions (EI LAP 4)
Accepting responsibility for all decisions and being liable for your actions (IM LAP 25)

ACCOUNTING: The process of keeping and interpreting financial records (Career Opps in Finance, FI LAP 7, FI LAP 351, PD LAP 15, SM LAP 7)
The process of keeping financial records (FI LAP 85)
The process of gathering, recording, organizing, and reporting financial data (FI LAP 9)
The process of maintaining and communicating financial records (FI LAP 343)

ACCOUNTING CYCLE: A process or series of steps that businesses complete to maintain their financial records effectively (FI LAP 85)

ACCOUNTING EQUATION: The foundation for accounting; represents the relationship between assets, liabilities, and owners’ equity (Assets = Liabilities + Owners’ Equity) (FI LAP 10)

ACCOUNTING FRAUD: A company or organization’s knowing publication of incorrect information on its financial statements (QS LAP 50)

ACCOUNTING STANDARDS: Rules that accountants must follow when preparing financial statements (FI LAP 85)

ACCOUNTING SYSTEM: The methods and procedures used in consistently handling the business's financial information (FI LAP 85)

ACCOUNTS PAYABLE: All monies owed by the business to others (DS LAP 4, FI LAP 7, NF LAP 1, QS LAP 38)
Money a company owes (FI LAP 9, FI LAP 10)

ACCOUNTS RECEIVABLE: All monies owed to a firm by its customers (DS LAP 4, FI LAP 7, FI LAP 91, NF LAP 1, QS LAP 38)
Money that is owed to a company (FI LAP 9, FI LAP 10)

ACCRUAL ACCOUNTING METHOD: A method of accounting that records transactions at the time they occur even if no money changes hands at the time (FI LAP 85, QS LAP 38)

ACCURATE: Correct; error-free (CR LAP 4)

ACCURACY: Freedom from errors (SE LAP 131)

ACHIEVEMENT BEHAVIOR: One of the four main leadership styles; leading by setting challenging goals for followers to reach and providing feedback (EI LAP 27)

ACHIEVEMENT NEEDS: Desires to do something better and more efficiently than it has been done before (MN LAP 47)

ACHIEVEMENT ORIENTATION: A drive to accomplish one’s goals and to meet or achieve a high standard of success (EI LAP 27)

ACKNOWLEDGMENT RESPONSE: Simple verbal utterances or words and nonverbal cues used by a listener to communicate understanding to a speaker (CO LAP 17)

ACQUIRE: To buy or obtain (FI LAP 9)

ACQUISITION: The process of taking possession of something (e.g., acquiring another business by purchasing it) (BL LAP 1, EN LAP 38, FI LAP 355, QS LAP 40)
In finance, one business’s purchase of another business (EC LAP 30)

ACQUISITION OF FUNDS: Finance activity involving making decisions about financing (FI LAP 7)

ACTIVE LISTENING: Using nonverbal cues, paraphrasing, questioning, and other techniques to let a speaker know that a message has been heard and understood (CO LAP 17, EI LAP 41, QS LAP 3)
A method of listening that involves paying attention, displaying proof of listening, and providing feedback to facilitate the two-way transmission of information (EI LAP 130, EI LAP 140)

ACTIVE MANAGEMENT: A style of mutual fund management that involves hands-on research and high volumes of trading (QS LAP 35)

ACTIVE VOICE: The verb, or action word, denoting that the subject of the verb is taking action (PR LAP 9, PR LAP 10)

ACTIVITY QUOTAS: Quotas designed to control the ways that salespeople use their time and efforts (SE LAP 118)

ACTUALIZE: To make a reality of something; to turn a business idea into reality (EN LAP 44)

ACTUARY: A person who assesses risk using statistical analysis and helps design policies to minimize the cost of that risk (QS LAP 51)

AD HOC (SHORT-TERM) COMMITTEE: A committee that is created for a particular or temporary reason (EI LAP 45)

AD TRACKING SOFTWARE: A program that instructs computers as to how to count the number of individuals who click on an e-mail link to visit a web site and/or to make a purchase on the web site (PR LAP 14)

ADAPTABILITY: Flexibility; the ability to adjust to changing conditions (EI LAP 1, EI LAP 9, EI LAP 45, EI LAP 240, QS LAP 14)
The ability to adjust or modify attitudes and/or behavior to new situations or circumstances (EI LAP 23, QS LAP 15)

ADJUST: To fit; to adapt yourself effectively to a particular set of circumstances (EI LAP 23, HR LAP 8, QS LAP 15)

ADMINISTRATION OF ASSETS: Finance activity involving making decisions about a firm’s investments (FI LAP 7)

ADMINISTRATIVE LAW: Laws pertaining to the actions of government agencies that grant them certain powers, provide guidelines for the regulations they create, and define the relationships they have with other governmental bodies (BL LAP 163)

ADMINISTRATIVE SERVICES: A career area in which employees facilitate business operations through a variety of administrative and clerical duties, including information and communication management, data processing and collection, and project tracking (PD LAP 15)

ADMINISTRATIVE SKILLS: The ability to perform essential, routine business tasks such as organizing, planning, filing, billing, computing, etc. (Career Opps in BMA, PD LAP 66)

ADULTERATED: Made impure by the addition of harmful or poor quality substances (PP LAP 7)

ADVANCE DATING: A dating term in which the invoice is dated in the future rather than at the time of purchase; also known as future dating (PU LAP 3)

ADVERTISEMENT: Any paid form of nonpersonal presentation of ideas, images, goods or services (CR LAP 4, CR LAP 6, PR LAP 2)

ADVERTISING: Any paid form of nonpersonal presentation of ideas, images, goods, or services (IM LAP 7, MK LAP 1, MK LAP 4, MP LAP 2, OP LAP 25, PM LAP 16, PM LAP 140, PR LAP 1, SE LAP 117, SE LAP 130)
A career involving the development of paid forms of nonpersonal presentation of ideas, goods, or services (Career Opps in Marketing, CD LAP 2)

ADVERTISING AGENCY: An independent company that offers advertising and other promotional services to clients (CD LAP 2, PR LAP 9)

ADVERTISING BUDGET: The portion of a firm's promotional budget that is allocated to advertising (PR LAP 8)

ADVERTISING CAMPAIGN: A series of advertisements planned around a central theme (PR LAP 9)

ADVERTISING DEPARTMENT: A division of a business that handles all of its promotional efforts (PR LAP 9)

ADVERTISING FEES: Monies spent to make the public aware of products or services (FI LAP 91)

ADVERTISING MEDIA: Channels of communication used by businesses for delivering promotional messages to target groups of consumers (PR LAP 3)

ADVERTISING OBJECTIVES: The specific purposes or goals of individual advertisements or advertising campaigns (PR LAP 9)

ADVOCACY: Word-of-mouth promotion and referrals from a business’s current customers to its potential customers (CR LAP 16)

AFFECTIVE CULTURE: A culture that tends to readily show emotions (EC LAP 45)

AFFILIATE MARKETING: The process of promoting and selling another business's products on a web site in exchange for a sales commission (BA LAP 3, PR LAP 16)

AFFILIATE PARTNER: A business that agrees to promote and sell another business’s products on the Web in exchange for a sales commission (PM LAP 9)

AFFILIATION NEEDS: Desires to be with people regardless of whether anything else is gained (MN LAP 47)

AFFINITY FRAUD: An investment scam in which the scammer claims to be a member of the group s/he is targeting; often a Ponzi or a pyramid scheme (QS LAP 50)

AFFIRMATION: A positive statement about a present or desired strength; something you want to accept, incorporate, or develop (HR LAP 12)

AFFIRMATIVE ACTION: An effort to give special employment consideration to disadvantaged groups (MN LAP 55)

AFL-CIO: The American Federation of Labor and Congress of Industrial Organizations; federation of North American labor unions founded in 1955 (EC LAP 5)

AFRICAN AMERICAN: Black American whose ancestors came from Africa (MN LAP 55)

AGE: The number of years a person has lived (EI LAP 36)

AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967: A federal act that protects employees between the ages of 40 and 70 from being disciplined or discharged from their jobs on the basis of age (MN LAP 53, MN LAP 55)

AGENCY SHOP: A union security agreement in which nonunion members are required to pay dues (EC LAP 5)

AGENTS: Intermediaries who assist in the sale and/or promotion of goods and services but do not take title to them (CM LAP 3)

AGGREGATE DEMAND: Total demand for an economy's goods and services (EC LAP 9)

AGGRESSION: Feelings of anger and disrespect for others that may lead to aggressive behavior (QS LAP 4)

AGGRESSIVE BEHAVIOR: Conduct based on a willingness to ignore the rights of others and to take advantage of them to achieve personal goals (EI LAP 7, EI LAP 18, QS LAP 4)

AGGRESSIVE INVESTOR: An investor with a high tolerance for risk (QS LAP 41, QS LAP 45)

AGGRESSIVENESS: An attitude based on feelings of aggression (QS LAP 4)

AGILITY: The ability to change and adapt quickly (EC LAP 107)

AGREEMENT: A negotiation outcome (EI LAP 62, QS LAP 3)

AIR FREIGHT COMPANY: Airline that transports goods rather than passengers (DS LAP 5)

ALDERFER'S EXISTENCE-RELATEDNESS-GROWTH (ERG) THEORY: A content theory of motivation that suggests needs are divided into three categories: existence needs, relatedness needs, and growth needs (MN LAP 47)

ALERTNESS: Being aware of what’s going on around you at all times (EI LAP 240)

ALGORITHM: A process or set of rules to be followed in calculations or other problem-solving operations, especially by a computer (OP LAP 531)

ALL OR NONE: In investing, an order restriction that lets a broker know not to execute the order unless it can be executed fully (QS LAP 47)

ALL-OR-NOTHING THINKING: A negative thought process that splits views into extremes; something is totally good or totally bad (EI LAP 134)

ALLERGY: A damaging immune response by the body to a substance to which it has become hypersensitive (PM LAP 40)

ALTERATION: A product-mix strategy in which a business makes changes to its products or product lines (PM LAP 3)

ALTERNATE BEHAVIORS: Habits that are developed or actions that are taken to better cope with stressful situations (EI LAP 14)

ALTERNATIVE PLANNING: The process of anticipating others’ possible negotiation strategies and preparing appropriate responses (EI LAP 62)

ALTERNATIVE-PRESS NEWSPAPERS: Papers that serve younger, trendier crowds interested in the arts and entertainment (PR LAP 3)

ALTERNATIVE RESOURCE: A resource that can be used in place of another (EC LAP 14)

ALTRUISM: The principle of concern for others’ welfare (EI LAP 131)

ALTRUISTIC: Concerned with others’ welfare (EC LAP 106)

AMATEURS: Participants who are not paid to play a sport (MK LAP 12)

AMBIGUITIES: Words or phrases with either a double meaning or a doubtful meaning (PD LAP 2)

AMBIGUITY: A state of vagueness, doubt, and uncertainty (EI LAP 92)

AMBITION: Something that you have a very strong desire to do or achieve (EI LAP 63)

AMBUSH MARKETING: A promotional technique whereby a non-sponsoring business tries to associate with an event to gain recognition as a sponsor (PR LAP 175)

AMERICAN ARBITRATION ASSOCIATION: An agency that assists in online negotiations involving a variety of Internet cases (BA LAP 5)

AMERICAN BANKERS ASSOCIATION: An organization whose membership is composed of commercial banks and trust companies. The organization serves the banking industry by providing information in the areas of communications, education, and government regulations. Address: 1120 Connecticut Avenue, N.W., Washington, D.C. 20036 (CD LAP 1)

AMERICAN HOTEL & MOTEL ASSOCIATION: A federation of state and regional hotel and motel associations which promotes the hotel industry, disseminates information to members, conducts educational institutes, and provides guidance on labor relations. Address: 1201 New York Avenue, N.W., Suite 600, Washington, D.C. 20005 (CD LAP 1)

AMERICAN MARKETING ASSOCIATION: An organization of individuals such as marketing researchers, sales and promotion managers, and teachers who are interested in marketing. Address: 250 S. Wacker Drive, Suite 200, Chicago, IL 60606 (CD LAP 1)

AMERICAN SOCIETY OF TRAVEL AGENTS: An organization whose membership is composed of travel agents and representatives of hotels, resorts, sightseeing and car rental agencies, and tourist organizations. Address: 1101 King Street, Alexandria, VA 22314 (CD LAP 1)

AMERICANS WITH DISABILITIES ACT OF 1990: A law that protects workers with physical and/or mental disabilities from discrimination (BA LAP 5, EC LAP 106, MN LAP 55)

ANALYST (INVESTMENT): A financial professional who researches and examines investment information, often recommending “buy,” “hold,” or “sell” responses (QS LAP 40)

ANGEL INVESTOR: Someone who provides startup money to a new business (EC LAP 71, PD LAP 66)

ANNOUNCEMENTS: Messages that serve to notify the public of specific events (PR LAP 13)

ANECDOTES: Short explanations of interesting or amusing incidents (QS LAP 10)

ANNUAL FEE: An amount of money charged on a yearly basis for the privilege of using certain kinds of credit (FI LAP 2)

ANNUAL INTEREST RATE: The price rate per year for the use of money; expressed as a percentage (PU LAP 3)

ANNUAL PERCENTAGE RATE (APR): Rate of interest expressed as a yearly percentage (FI LAP 1, FI LAP 2)

ANNUAL REPORT: A document outlining the financial status of a business (BL LAP 1, QS LAP 36, QS LAP 39, QS LAP 46)

ANONYMOUS: Unnamed; not known by name (QS LAP 17)

ANTICIPATE: To foresee; to expect ahead of time (EI LAP 23, HR LAP 8, QS LAP 15)

ANTICIPATION: A deduction in price in addition to the cash discount amount granted to buyers for making payment before the end of the cash-discount period; a time-based discount (PU LAP 3)

ANTICYBERSQUATTING CONSUMER PROTECTION ACT: A law that makes it illegal to register a domain name for the purpose of selling it to its trademarked owner for a profit (BA LAP 5)

ANTITRUST LAWS: Regulations that prevent a person or company from taking any actions to restrain free trade and competition in the marketplace

APPENDIX: A segment added to the end of a document; includes supporting information (MP LAP 7, SM LAP 7, SM LAP 13)

APPRAISAL COSTS: The costs associated with inspecting and catching defective products as quickly as possible (QM LAP 1)

APPRECIATE: To increase in value (EC LAP 30)

APPRECIATIVE INQUIRY (AI): A problem-solving method that encourages us to look at problems in a different way; instead of focusing on what is broken, we focus on what is working and figure out how to expand that success (QS LAP 26)

APPRENTICE: A union worker who is just beginning in an occupation (EC LAP 5)

APPROACH: The point in the selling process when the customer and salesperson first communicate; also called the “opening” or “attention” step of a sale (SE LAP 101)

APPROACHABILITY: An attitude or demeanor that says, “You can talk to me.” (EI LAP 41, QS LAP 7)

APRON: A short receiving form that is attached to the invoice in the receiving department and used to record information about the shipment throughout the receiving process (DS LAP 5)

APTITUDES: Natural talents for learning specific skills (HR LAP 2, MN LAP 42)

ARBITRATION: The act of settling a dispute by using an uninvolved third party (EC LAP 5)

ARBITRATOR: A person who assists in negotiations (EC LAP 5)

ARGUMENTATIVE CUSTOMERS: Customers who seem to disagree, question, or look for error in almost everything and everybody (CR LAP 9)

ARROGANCE: An inflated sense of self-importance (EI LAP 18, EI LAP 124)

ARTICLES OF INCORPORATION: A document outlining a corporation’s name, purpose, location, amount of stock to be issued, names of the board of directors, and other information about the conditions under which the business will operate; must be filed by a business to obtain a charter (BL LAP 6)

ARTICULATE: Clearly expressed (CO LAP 25, EN LAP 38)

ARTIFACTS: Observable things that demonstrate an organization’s values (EI LAP 64)

ASK (SELL) PRICE: The lowest price at which the seller will sell a stock or share (QS LAP 40)

ASPIRATION: A dream; an ambition (QS LAP 12)

ASSEMBLY LINE: A production method in which the product moves past workers who each do one assigned production task (EC LAP 7, OP LAP 17)

ASSERTIVE BEHAVIOR: Conduct based on respect for your own rights and for the rights of others (EI LAP 7, EI LAP 18, QS LAP 4)

ASSERTIVENESS: The ability to express yourself, communicate your point of view, and stand up for your rights, principles, and beliefs (EI LAP 9, EI LAP 18, EI LAP 240, QS LAP 4)

ASSESS: To evaluate, analyze, or review (EI LAP 17, EI LAP 126, QS LAP 3)

ASSESSMENT CENTERS: An off-site instructional method involving the use of a variety of instructional methods, assessment by a group of trained assessors, and review of strengths and weaknesses. Can be used to determine training needs or to provide training and development (MN LAP 50)

ASSET ALLOCATION: Diversification by investment type (equity, fixed-income, or cash) (QS LAP 45)

ASSET MANAGEMENT RATIO: A class of financial ratios that measures how efficiently a company manages its assets; also known as efficiency ratios (QS LAP 43)

ASSET-MANAGEMENT FEE: A payment structure in which a broker receives a certain percentage of the value of the money s/he controls for you; usually 1.5% (QS LAP 48)

ASSET RECORD: A document about something of value that a business owns (NF LAP 1)

ASSET(S): Anything of value that a business or individual owns (BL LAP 1, EC LAP 71, FI LAP 7, FI LAP 85, FI LAP 91, FI LAP 343, IM LAP 184, QS LAP 38, QS LAP 44, QS LAP 49)
Resources owned by a business or an individual (FI LAP 9, FI LAP 10)

ASSOCIATION: The connection or relation of ideas, feelings, reasoning, etc. (PM LAP 127)

ASSORTMENT: All the varieties of a product or products that a business carries in inventory (DS LAP 2)

ASSUMPTIONS: Beliefs that underpin all of an organization’s attitudes and actions, even though they aren’t “spoken” (EI LAP 64)

ASSUMPTION CLOSE: A closing technique in which the salesperson takes for granted that the customers agree with all that has been said in the presentation and that they will buy (SE LAP 895)

ASSUMPTIVE QUESTION: A type of question used to check for understanding when the salesperson feels that s/he knows how the customer will respond

ASSURANCE: The confidence customers have that a service provider is trustworthy and knowledgeable (QM LAP 1)

ATTACHMENT: A computer file that is sent with an e-mail message (PR LAP 13)

ATTACK BEHAVIOR: Aggressive behavior that is like a personal attack on others (QS LAP 4)

ATTAINABLE GOAL: A reachable goal (QS LAP 22)

ATTITUDE: The way a person looks at life (EI LAP 3, HR LAP 2, IM LAP 9, SE LAP 115)
A good or bad feeling about something that forms over time and is unlikely to change (MK LAP 14)

ATTITUDE SURVEYS: A written communication method in which employees are asked to express their feelings and opinions about their jobs and the company to management anonymously (MN LAP 54)

ATTRIBUTE LISTING: A creative-thinking method that involves listing the characteristics or attributes of something and then finding ways to improve these attributes (PM LAP 127)

AUCTION FRAUD: A deception purposely carried out to secure unfair or unlawful gain by individuals , i.e., bidders or sellers) engaged in online sales (BA LAP 4)

AUDIT: Process by which an organization’s accounts and records are verified (FI LAP 343, FI LAP 351, NF LAP 110, OP LAP 8)

AUDIT REPORT: A document that describes the accuracy and appropriateness of a business’s information, processes, and/or systems (SM LAP 75)

AUTHENTIC: Genuine; sincere; not fake (CR LAP 6)

AUTHENTICATION: The process of verifying identity (BA LAP 4)

AUTHENTICITY: Being genuine and sincere; not being fake (EI LAP 16)

AUTHORITY: Power to influence or control the opinions or behavior of others (HR LAP 493, PD LAP 252, QS LAP 10)
The formally granted influence of an individual to make decisions, pursue goals, and obtain the resources necessary to support those decisions and goals (EC LAP 103, SM LAP 64)
The formal or legal right to give orders and commands to others (EI LAP 135)

AUTHORITARIAN MANAGERS: Managers who prefer to exercise a high degree of control over their subordinates; tend to see themselves as the sole source of authority (EI LAP 37)

AUTHORIZATION: The process of granting or denying access to information (BA LAP 4)

AUTOCRATIC LEADERSHIP: A dictatorial leadership style in which the leader relies on her/his positional authority within the organization to ensure that closely supervised employees do exactly as they are told to achieve required results (HR LAP 493)

AUTOMATE: To operate a system, process, or piece of equipment with little or no direct human control (EC LAP 29)

AUTOMATION: A production method in which machines do tasks automatically (EC LAP 14)
The use of technology to control a process (IM LAP 17)
A method of operating or controlling a process in which tasks are completed by automatic means, such as technology, reducing human effort and labor (EC LAP 7, OP LAP 17)

AUTORESPONDER: A computer program that automatically returns a specified message to anyone who e-mailed a particular address (e.g., customerservice@infotech.com) (PR LAP 13, PR LAP 14, PR LAP 15)

AVOIDANCE: A risk-response strategy that involves choosing not to do something that is considered risky (SM LAP 75)

AVOIDANT: A conscious effort to withdraw or stay away from a situation; a negotiating style that is used when relationships and outcomes are not important or when one party has another plan to meet his/her needs or wants (EI LAP 62)

B

B2B MARKETING: Business-to-business marketing; creating, promoting, and selling goods and services to organizations (MK LAP 14)

BABY-BOOM ERA: The period from 1946 to 1964 when the birthrate in the United States was at a high level (IM LAP 3)

BABY BOOMERS: A term used to refer to individuals who were born between the years 1946 and 1964 (EC LAP 14, MN LAP 55)

BACK ORDER: Term used by shippers to refer to goods that are out of stock and will be shipped at a later date (DS LAP 5)

BACK-UP PLAN: Alternate way to carry out a project (QS LAP 18)

BAIT-AND-SWITCH ADVERTISING: Promoting a low-priced item to attract customers to whom the business then tries to sell a higher priced item (PI LAP 3)

BALANCE OF PAYMENTS: The difference between all monies coming into and going out of a country (EC LAP 4)

BALANCE OF TRADE: The difference between the value of a nation's exports and its imports (EC LAP 1, EC LAP 4)
A country’s ratio of imports to exports (EC LAP 30)

BALANCE SHEET: A financial statement that captures the financial condition of the business at that particular moment (assets and liabilities) (FI LAP 85, FI LAP 99, FI LAP 351, IM LAP 184, QS LAP 36, QS LAP 38, QS LAP 39, SM LAP 7, SM LAP 13)
A statement of a business’s assets and liabilities (FI LAP 9)
A financial statement that shows how much money a business has, how much it owes, and how much belongs to owners or stockholders (FI LAP 10)

BALANCED FUND: A pool of shareholders' money invested in both stocks and bonds; also called a hybrid fund (QS LAP 35)

BALANCED OR MODERATE INVESTOR: An investor who is willing to tolerate some risk, but not high risk (QS LAP 45)

BANDWIDTH: The amount of information that can be transmitted over the Internet in a given period of time (BA LAP 4)

BANK CREDIT CARD: A type of credit issued by banks that enables the cardholder to make purchases nationwide (examples = VISA and MasterCard) (FI LAP 2)

BANKING SERVICES: A career area in which employees are primarily concerned with accepting deposits, lending funds, and extending credit to bank customers (Career Opps in Finance, PD LAP 15)

BANKRUPTCY: A state of debt that cannot be resolved (EC LAP 106)

BANNER AD: Advertisement on a web page that is usually an inch or less tall and as wide as the page (PR LAP 6)
An advertisement, usually rectangular, that is placed at the top of a website (PR LAP 3)

BANNER ADVERTISEMENTS: Promotional messages appearing on the Internet, usually at the top of websites (BA LAP 3, PR LAP 1, PR LAP 16)

BANNER EXCHANGES: Networks in which members agree to display each others’ banner ads for free (PR LAP 16)

BAR CODE: A symbol known as a Universal Product Code (UPC) containing merchandise information that can be read by an electronic scanner (DS LAP 3)

BARGAINING: A negotiating technique that involves giving another person something s/he wants, and receiving something desired, in return (EI LAP 62, QS LAP 3)

BARRIER: Anything that blocks the way or makes it more difficult to accomplish something (EI LAP 130, QS LAP 4)

BARRIER TO (MARKET) ENTRY: Anything that blocks the way or makes it more difficult to enter a particular market (SM LAP 7)

BASE CURRENCY: The first currency listed in an exchange-rate quotation; the exchange rate is based on one unit of this currency (EC LAP 30)

BASE YEAR: A specific point in the past used as part of the Consumer Price Index's inflation-rate calculation (EC LAP 28)

BASIC STOCK LIST: A list of minimum amounts of staple goods that should be on hand and reordered (DS LAP 3)

BATCH PRODUCTION: The production of items in specific amounts, or batches (OP LAP 17)

BATNA: The best alternative to a negotiated agreement; the best a negotiator can do if an agreement with the other party can’t be reached (EI LAP 62)

BEAR MARKET: A condition of the stock market in which stock prices are falling (QS LAP 40)

BEGINNING CASH BALANCE: The amount of money a business has available at the beginning of each month (FI LAP 91)

BEHAVIOR: The manner in which individuals act; conduct (EI LAP 4, RM LAP 2)
The manner in which individuals act (EI LAP 126)

BEHAVIOR MODELING: An instructional method in which trainees are given a specific model of behavior, told the consequences of failure to perform in that manner, provided opportunities to practice the behavior, and evaluated using the behavior (MN LAP 50)

BEHAVIOR PATTERN: The manner in which a person consistently reacts, or responds, in various situations (EI LAP 7)

BEHAVIORAL SEGMENTATION: The division of a market on the basis of customers' responses to a product (MP LAP 3)

BELIEF: An idea that one holds to be true or real (MK LAP 14)

BELITTLING: Putting someone down; making someone feel inferior or unworthy (EI LAP 136)

BENCHMARK: A point of reference (MP LAP 5)
Something that provides a basis for comparison or evaluation (FI LAP 106)

BENEFIT: An advantage consumers receive from using a product (EC LAP 13, IM LAP 7, IM LAP 9, MP LAP 2, PM LAP 16, PM LAP 17, PM LAP 19, SE LAP 108, SE LAP 113, SE LAP 114, SE LAP 117, SE LAP 131, SE LAP 883)
An advantage or a help (EI LAP 19)
An advantage or a help; a reason to use a product or advice offered (EI LAP 121, QS LAP 10)
An advantage a customer receives from using a product (SE LAP 374)
Advantage (CR LAP 4)

BENEFITS: Advantages or payments employees receive in addition to their wages (e.g., sick time, holiday pay, health insurance) (EC LAP 5, FI LAP 91, HR LAP 35, OP LAP 190, SM LAP 4)
Advantages customers receive from using a product (SE LAP 48)
Advantages (FI LAP 11)

BETTER BUSINESS BUREAU: A consumer organization that monitors complaints against businesses (BL LAP 1)
A consumer-action agency that collects and disseminates information on business reliability and alerts the public to potential fraud situations (EC LAP 105)

BIAS: An inclination to have a certain perspective in favor of or against a person, group of people, or thing (EI LAP 92, EI LAP 139, OP LAP 675)
Prejudice (EI LAP 15, EI LAP 21, EI LAP 33, EI LAP 36, IM LAP 17, IM LAP 285, MP LAP 5)
Prejudice, partiality (EN LAP 38)
Prejudice for or against something (EI LAP 137)

BIASED: Prejudiced (EI LAP 131)

BID PRICE: The price others are willing to pay for a bond at a particular time (QS LAP 33)

BIG DATA: Large amounts of information automatically collected from electronic sources (such as mobile apps, website cookies, and store loyalty cards) (CR LAP 17, IM LAP 25)

“BIG Q”: A focus on ingraining quality into every aspect of an organization to deliver what customers want and to exceed their expectations; a strategic approach to quality management (OP LAP 8)

BILK: Cheat, swindle, defraud (EC LAP 3)

BILL OF LADING: The contract between the shipper and the transportation company (DS LAP 5)

BIODEGRADABLE: Capable of being decomposed by bacteria or other living organisms (PM LAP 40)

BLACKOUT: A legal right of professional sport leagues to block the broadcast of certain games in certain territories

BLEED PAGE: Magazine advertising production option that prints to the edge of the page, removing some or all of the white border (PR LAP 6)

BLIND CARBON COPY: A mailing technique used to keep e-mail addresses private by preventing recipients from seeing who else is receiving the e-mail; also known as BCC (PR LAP 14)

BLIND CHECK: A method of checking goods in which the goods received are listed on a blank form, or dummy invoice, which is then compared to the real invoice in order to ensure the accuracy of the shipment (DS LAP 5)

BLOG: A web site regularly updated (by a person or group) with information or opinions (OP LAP 6)
A personal or topical web site; short for “weblog” (SE LAP 131)

BLUE-CHIP COMPANY: A large, established company known for its quality and its reputation for paying dividends (QS LAP 34)

BLUEPRINT: Detailed plan (QS LAP 19)

BOARD OF DIRECTORS: A group of people chosen to govern the activities of a corporation (BL LAP 1, BL LAP 6)
A group of people, elected by shareholders, who are responsible for governing a corporation (QS LAP 39)

BODY LANGUAGE: Gestures, facial expression, tone of voice, or any other form of communicating without words; often called "silent language" (CD LAP 2, EI LAP 14, EI LAP 18, EI LAP 30, HR LAP 20, MN LAP 54, QS LAP 3, QS LAP 4, QS LAP 10, SE LAP 112)
Gestures, facial expression, tone of voice, or any other form of communicating without words (EI LAP 121)
Nonverbal cues such as gestures, facial expression, posture, or any other form of communicating without words (CO LAP 25, PD LAP 2)

BODY OF THE MESSAGE: The text, images, and sounds that appear in the large window when an e-mail is being created or when it is opened; also known as content (PR LAP 14)

BOND(S): A piece of paper (whether real or virtual) that says a governing body or corporation will borrow an investor’s money at a particular interest rate for a particular period of time (EC LAP 71)
Lending investments in which individuals lend money to a government, municipality, or corporation to earn a set rate of interest for a specified time period (FI LAP 77, QS LAP 32, QS LAP 33)
Interest-bearing certificates issued by government and promising to pay bond owners a certain sum at a specified time; lending investments in which individuals lend money to a government, municipality, or corporation to earn a set rate of interest for a specified time period (QS LAP 40)

BOND FUND: A pool of shareholders' money invested in bonds (QS LAP 35)

BOND RATING: The ranking of bond issuers according to their risk of default; the letter score assigned to a company based on the financial responsibility it has demonstrated (QS LAP 33)

BOND TABLE: Table that tells a bond’s issuer, coupon, maturity date, bid price, and/or yield (QS LAP 33)

BONE STRUCTURE: A person's body type or build, related to the size of one's bones

BONUS CLOSE: A closing technique in which customers are offered something extra for buying immediately (SE LAP 895)

BOOK INVENTORY: See Perpetual Inventory (DS LAP 6)

BOOK VALUE: The value of a company from an accounting point of view; calculated by subtracting liabilities and sometimes intangibles, such as patents, from assets; also known as stockholders’ or shareholders’ equity (QS LAP 38, QS LAP 40, QS LAP 42, QS LAP 43)
A company’s worth according to the balance sheet; also called net worth (FI LAP 10)

BOOKKEEPING: The steps in the accounting cycle that involve recording each business transaction; the process of analyzing financial transactions, journalizing transactions, posting to ledgers, and balancing the books (FI LAP 85)
The steps in the accounting cycle that involve recording each business transaction (Career Opps in Finance)

BOOKMARK: To select and mark web sites for later reference (MN LAP 44)

BOOKMARK FEATURE: An application within Microsoft Word that can be used to create hyperlinks to other places within an e-mail (PR LAP 14)

BOTTOM LINE: Net outcome (FI LAP 4, SM LAP 7)
A business’s net income; the decisive point (OP LAP 189)

BOTTOM-UP APPROACH: Starting the sales forecast process by gathering individual forecasts that may be combined, or built up, into a forecast for the entire company; also called build-up approach (IM LAP 4)

BOTTOM-UP ESTIMATING: A method of estimating resources by adding up smaller components of the project (OP LAP 531)

BOYCOTT: A union pressure strategy in which union members refuse to buy a company's products and encourage others to do the same(EC LAP 5)

BRAIN DRAIN: The situation that exists when a country or region loses its talented, educated employees to jobs in other countries (EC LAP 104)

BRAINDRAWING: A brainstorming technique that involves developing random sketches and doodles and then relating the drawings to an issue or problem (PM LAP 127)

BRAINSTORM: To use a creative-thinking technique involving the identification of as many different ideas as possible during a certain time frame; can be done by one person but is used most often in a group setting (EI LAP 19, EI LAP 126, PM LAP 16, PM LAP 17, QS LAP 23)

BRAINSTORMING: A creative-thinking technique involving the identification of as many different ideas as possible during a certain time frame; can be done by one person but is used most often in a group setting (PD LAP 2, PD LAP 77, PM LAP 127, PR LAP 187, QS LAP 5, QS LAP 26)
Generating as many ideas as possible within a specific period of time (PD LAP 12)

BRAINWRITING: A brainstorming technique that involves writing random ideas or words on pieces of paper, then sharing them with others to build upon each other’s ideas (PM LAP 127)

BRANCH MANAGER: In banking, a person who oversees all the functions of a particular branch, including hiring personnel and resolving customer complaints (QS LAP 51)

BRAND: All the combined impressions and experiences associated with a particular company, good, or service (CR LAP 6, IM LAP 7, MK LAP 1, PD LAP 2, PM LAP 16, PM LAP 19, PM LAP 79, PM LAP 139, PM LAP 140, QS LAP 42)

BRAND AMBASSADORS: Individuals, usually employees, who communicate the company’s values, vision, and personality to those they have contact with (PM LAP 10)

BRAND AWARENESS: The extent to which customers or potential customers are familiar with a brand (CR LAP 6)

BRAND CHAMPION: The person in a business who is responsible for making the brand come alive and for sustaining it; usually the business owner, president, or CEO (PM LAP 10)

BRAND COMPETITION: Competition between two similar products (NF LAP 15)

BRAND CUES: Elements that remind customers and employees of brands and their values (PM LAP 10, PM LAP 20)

BRAND EROSION: The deterioration or destruction of a corporate or product brand (SM LAP 75)

BRAND EXTENSION: The brand strategy of using successful brands to introduce new products (PM LAP 6)

BRAND IDENTIFIERS: Company or product names and logos (PM LAP 10)

BRAND IDENTITY: Those elements that are instantly recognized as representing a particular business or product (PM LAP 20)

BRAND IMAGE: Impressions of a corporate brand within customers’ minds which represent what the brand stands for (PM LAP 10)

BRAND INSISTENCE: The stage of brand loyalty in which consumers insist upon buying a specific brand (PM LAP 6)

BRAND LICENSING: The legal authorization by a brand owner to allow another company to use the brand in exchange for a fee (PM LAP 6)

BRAND LOYALTY: Customers’ allegiance to a particular brand (CR LAP 6, PM LAP 6)

BRAND MANAGERS: Individuals within an organization who are responsible for an individual brand or group of brands (PM LAP 40)

BRAND MARK: A distinctive symbol, design, sound, or group of letters which is seen or heard but cannot be spoken (PM LAP 6)

BRAND NAME: That part of brand identity which can be spoken, including words, phrases, letters, numbers, or any combination of these (IM LAP 9, NF LAP 1)
The part of a brand which can be spoken, such as a word, a phrase, a letter, a number, or any combination of these (PM LAP 6)

BRAND PERSONALITY: The projection of a corporate brand that encompasses its values and emotional connections with consumers (PM LAP 10, PM LAP 20)
The projection of a brand that encompasses its values and emotional connections with consumers (CR LAP 6)

BRAND POSITIONING: A branding strategy in which marketers create a certain image or impression of a brand as compared to those of competitors’ brands (PM LAP 6)

BRAND PREFERENCE: The stage of brand loyalty in which consumers prefer to purchase a certain brand but will accept substitutes if the brand is not available (PM LAP 6)

BRAND PROMISE: A business's agreement (spoken or unspoken) with customers that it will consistently meet their expectations and deliver on its brand characteristics and values (PM LAP 10)
A business’s spoken or unspoken agreement with customers that it will consistently meet their expectations and deliver on its brand characteristics and values (PM LAP 20)
A business's (typically unspoken) agreement with customers that it will provide them with a unique benefit and consistently meet their expectations (CR LAP 6)

BRAND RECOGNITION: The stage of brand loyalty in which consumers are made aware of a brand’s existence (PM LAP 6)

BRAND STRATEGIES: The actions a business takes with a brand in order to accomplish its goals (PM LAP 6)

BRAND VALUE: A brand’s worth in terms of income, potential income, and prestige (MK LAP 19)

BRAND VALUES: Core values; beliefs or qualities that a corporate brand stands for and is built around (PM LAP 10)
Beliefs or qualities that a corporate brand stands for and is built around (PM LAP 20)
A belief or quality that a brand stands for and is built around (EC LAP 104)

BRANDED PRODUCT: An item that features only the logo of the manufacturer and not another company's trademark (PM LAP 139)

BRANDING: The ongoing decision-making process about the use of brands (CR LAP 6, PM LAP 6, PM LAP 139)

BREACH OF CONTRACT: Failure to fulfill the terms of a contract (EC LAP 3)

BREAK-EVEN POINT: The level of sales at which revenues equal total costs (PI LAP 4)
The point at which a business’s total sales equal total expenses; the business has not yet made a profit but has not incurred any losses (OP LAP 9)

BREAKTHROUGH PROJECT: A risky business endeavor that uses entirely new technology OP LAP 6)

BRIBE: An illegal payment intended to secure business or products in return (SE LAP 129)

BRIBERY: Making illegal payments intended to secure business or products in return (EC LAP 45)

BRICK-AND-CLICK: A business that has both a brick-and-mortar business and an online store (BA LAP 3)

BRICK AND MORTAR: A business that operates out of a physical facility (instead of online) (EC LAP 70)

BROAD PRODUCT MIX: A description of the width of a business's product mix offering many product lines (PM LAP 3)

BROADCAST MEDIA: Promotional media, such as radio and television, which use radio waves to reach consumers (PR LAP 8)
Promotional media including radio and television that may be transmitted through the air, cable, or Internet (PR LAP 3)

BROKEN LINKS: Clickable text or graphics that do not take a visitor to the appropriate document or location on the Web (PM LAP 9)

BROKER: A company or an individual who buys advertising space or time on behalf of clients (PR LAP 6)
A person who is authorized to buy and sell securities on an exchange (QS LAP 48, QS LAP 51)

BROKERAGE HOUSE: A firm that offers various investing services, such as securities trading, research analysis, and advice (QS LAP 48)

BROWSER: A customer who is “just looking” without focusing attention on any particular item (SE LAP 101)

BUDGET: An estimate of income and expense for a specific period of time (FI LAP 99, FI LAP 106, FI LAP 351, IM LAP 12, IM LAP 184, MK LAP 1, NF LAP 1, OP LAP 519, OP LAP 521, QS LAP 22, QS LAP 28)
An estimate of income and expenses for a particular period of time (MP LAP 5)
An estimate of income and expenditures over a certain period of time (FI LAP 9)
An estimate of what income and expenses will be for a specific time period or for a specific project (QS LAP 19)

BUDGET CREDIT ACCOUNT: A form of short-term credit often set up for 60- or 90-day periods with a payment due every 30 days (FI LAP 2)

BUDGET DEFICIT: A situation in which expenditures exceed revenues (EC LAP 30)

BUILDERS: A type of producer that constructs roads, bridges, buildings, or houses (EC LAP 70)

BULK E-MAIL PROGRAM: Software designed for sending many e-mails at once (PR LAP 14)

BULL MARKET: A condition of the stock market in which stock prices are rising (QS LAP 40)

BULLETINS: Messages that provide updates about current events (PR LAP 13)

BUNDLE: A combination of goods and/or services grouped together and offered as one product (PM LAP 17)

BUNDLING: A marketing strategy that involves offering several products for sale as one combined product (MP LAP 7, PM LAP 24)

BURGLARY: Any illegal entry into a building to commit a theft (RM LAP 4)

BURN: An injury to the skin caused by heat, electricity, or chemicals (RM LAP 3)

BURNED OUT: Overly stressed and exhausted (EI LAP 30)

BURNOUT: A type of exhaustion that is usually caused by too much stress (EI LAP 14, EI LAP 25, EI LAP 77)

BUS/CAR WRAP: A form of out-of-home advertising; involves partially or completely covering a vehicle with an advertisement, turning the bus or car into a mobile billboard (PR LAP 1)

BUSINESS: An organized effort to produce and/or distribute goods and services (EC LAP 71)

BUSINESS ANALYTICS: An umbrella term covering those careers that provide a bridge between business processes/initiatives and use of IT resources; sometimes referred to as business information management (Career Opps in BMA)

BUSINESS CASUAL: A dress-code trend in business for employees to dress in a less formal way (PD LAP 2)

BUSINESS COMMUNITY: Individuals employed in local/area organizations (PR LAP 136)

BUSINESS CONTINUITY: An organization’s ability to function after a disaster (NF LAP 110)

BUSINESS CUSTOMER: An organization that purchases goods and services that allow it to create and sell its own products and to operate on a day-to-day basis (MK LAP 14)

BUSINESS CYCLES: Periods of expansion and contraction in economic activities (EC LAP 9, NF LAP 15, PI LAP 3)
Fluctuating levels of economic activity ranging from expansion to contraction (EC LAP 29)

BUSINESS ETHICS: The basic principles that govern a business’s actions (EC LAP 106)

BUSINESS/FEASIBILITY ANALYSIS: Examining such factors as demand, costs, competition, capital investment required, and potential profit of a product or service to determine how it will fit into the company’s product mix (PM LAP 17)

BUSINESS-FORMAT FRANCHISE: A franchise arrangement in which the franchisee must operate under the trade name of the parent company that provides continuous assistance in setting up and operating the business (BL LAP 1)

BUSINESS IMAGE: The view or opinion that customers have about a business (PM LAP 1)

BUSINESS INFORMATION MANAGEMENT: An umbrella term covering those careers that provide a bridge between business processes/initiatives and IT (information technology) (PD LAP 15)

BUSINESS LICENSE: A document that grants permission to operate a business (FI LAP 91)

BUSINESS MAGAZINES: Magazines that appeal primarily to members of the business community (PR LAP 3)

BUSINESS MODEL: The company’s method or plan for making money (SM LAP 7, SM LAP 13)
The way a company makes money (QS LAP 40, QS LAP 42)

BUSINESS OPERATIONS: The day-to-day activities needed for continued business functioning (OP LAP 158)

BUSINESS PLAN: A company’s blueprint for success; shows how the business works now and how it is intended to work in the future; the written business model (EN LAP 38, MP LAP 7, SM LAP 7, SM LAP 13)
A statement of a business’s goals and an outline of its strategies to reach those goals (MP LAP 5)

BUSINESS POLICY: A general rule or statement the business follows; a guideline for all employees to follow in making decisions about situations that occur often (HR LAP 25)
Statements outlining practices the business follows, such as warranties and maintenance contracts (SE LAP 115)

BUSINESS PRODUCTIVITY: The amount of goods or services produced by a business from a set amount of resources (EC LAP 18)

BUSINESS PROCESS MANAGEMENT: A business strategy that stresses technology, innovation, and flexibility to align an organization’s objectives and activities with customer needs (CR LAP 16)

BUSINESS RECORD: A document containing information about a business’s operations and its finances (NF LAP 1)

BUSINESS-RELATED EXPENSES: Money spent in the process of doing a job; e.g., automobile expenses for a business trip (HR LAP 19)

BUSINESS RISK: The possibility of loss (failure) or gain (success) inherent in conducting business (EC LAP 3)

BUSINESS SECTOR: A segment of the economy that does not include government, private citizens, or nonprofit institutions (EC LAP 1)

BUSINESS SECURITY: Something that provide protection for the business or its property (RM LAP 4)

BUSINESS STRUCTURE: The company’s configuration of employees for accomplishing specific business tasks; how the business is organized (SM LAP 7)

BUSINESS SUSTAINABILITY: The successful long-term management of an organization’s financial, social, and environmental risks, opportunities, and obligations (EN LAP 44)

BUY ORDER: In investing, an instruction to a broker to purchase a particular stock or security (QS LAP 47)

BUY (BID) PRICE: The highest price at which a buyer is willing to purchase a stock or share (QS LAP 40)

BUY-AND-HOLD STRATEGY: An investing approach that encourages staying in the market for the long term (QS LAP 44, QS LAP 46, QS LAP 49)

BUY-LOW-AND-SELL-HIGH STRATEGY: An investing approach that encourages purchasing securities at a low price and selling them at a high price (QS LAP 49)

BUYER'S MARKET: The best time for consumers to buy; characterized by large supply, small demand, and low prices (EC LAP 11, EC LAP 12)

BUYING DECISION: A small or "mini" decision a customer makes that leads to the final decision to buy a good or service (SE LAP 108)
A customer’s choice to purchase a product (SE LAP 114, SE LAP 875)

BUYING HABITS: The usual purchasing methods of consumers; may change according to circumstances (IM LAP 3)

BUYING MOTIVES: The reasons or benefits that cause people to make purchases to satisfy wants and needs; customer's reason for buying goods or services; why people buy (IM LAP 9, SE LAP 117, SE LAP 120, SE LAP 883)

BUYING POWER: The amount of money available (EC LAP 11)

BUYING TO COVER: In investing, buying shares to pay back a broker from whom shares were borrowed; a part of the short-selling process (QS LAP 47)

C

C CORPORATION: A form of business ownership that is considered a separate legal entity from its owners; can be owned by unlimited stockholders and is susceptible to dual taxation; a type of public corporation (BL LAP 1)

CABLE MODEM: A device that is used to transmit data over cable lines at high speeds (PR LAP 14, PR LAP 15)

CALL REPORTS: Records of salespeople’s meetings or contacts with customers (IM LAP 184)

CALLABLE BONDS: Bonds that can be repaid before their maturity date at the request of the borrower (QS LAP 33)

CALMNESS: The state or quality of being free from agitation or strong emotion (EI LAP 92)

CANADIAN SECURITIES ADMINISTRATORS: A forum for the 13 securities regulators of Canada's provinces and territories that regulates the market and protects investors (QS LAP 48)

CANDLESTICK CHART: A graph that shows a security’s open and close prices for the day and its highest and lowest prices for the day in comparison to the days around it; used in technical analysis (QS LAP 49)

CANNIBALIZATION: The situation that exists when the sale of one of a company's products takes away sales from another of its products (PM LAP 3)

CAPITAL: Assets of a business (BL LAP 1, BL LAP 6, EC LAP 1, EC LAP 31, IM LAP 3, PI LAP 3)

CAPITAL APPRECIATION: An increase in the price of the stock you own (QS LAP 34, QS LAP 44)

CAPITAL BUDGETING: A process in which a firm’s financial managers determine which projects it should invest in (FI LAP 7)

CAPITAL EXPENDITURE: A one-time purchase a business makes (e.g., land, building, equipment) (MP LAP 5, OP LAP 9)

CAPITAL GAINS: Earnings from the appreciation of a stock investment (QS LAP 45, QS LAP 46)

CAPITAL GAINS TAX: Tax on earnings from the appreciation of a stock investment (QS LAP 44)

CAPITAL GOODS: Manufactured or constructed items that are used in the production of goods and services (EC LAP 6, EC LAP 13, EC LAP 14, SE LAP 117)
Manufactured or constructed items that are used to produce goods and provide services (EC LAP 15, OP LAP 17)
Manufactured resources used to produce goods and services (EC LAP 7)
Manufactured or constructed items that are used to produce goods and services (EC LAP 9, EC LAP 17)

CAPITAL-INTENSIVE PROCESS: A conversion process that depends on the use of equipment (OP LAP 17)

CAPITAL INVESTMENT: The amount of money the business has invested in its goods and other property (DS LAP 3, EC LAP 18, FI LAP 11, SM LAP 7)

CAPITAL INVESTMENT DECISIONS: Decisions that determine which projects a business will invest in, how the investment(s) will be financed, and whether or not to pay dividends to shareholders (FI LAP 7)

CAPITAL STRUCTURE: The organization of the influx and outflow of the company’s money, including where the money goes on a regular basis; how a business pays for its operations (SM LAP 7)
A firm’s mix of financing, usually some combination of debt and equity (FI LAP 7)

CAPITALISM: An economic system that depends on honest, healthy competition between businesses (BL LAP 58)

CAP-SIZE (OR MARKET CAPITALIZATION): An indicator of the size of a public company, as measured by the total dollar value of its stock; calculated by multiplying share price by number of outstanding shares; companies are often categorized as small-cap, mid-cap, or large-cap, though the specific dollar categories vary by source (QS LAP 45, QS LAP 46)

CAPTION: Written text that describes a photograph or illustration (PR LAP 10)

CAPTIONED PHOTOGRAPH: A picture with text that describes what is happening in the picture (PR LAP 8, PR LAP 10)

CARBON FOOTPRINT: A measure of the impact of human activity on the environment (NF LAP 15)

CARCINOGEN: A substance capable of causing cancer (PM LAP 40)

CARDIOVASCULAR: Relating to your heart and blood vessels (PD LAP 2)

CARRIER: A transportation company such as a railroad, airline, trucking company, or the postal service (DS LAP 5)

CASE HISTORY: A detailed account of the benefits received from the use of a product, given by an identified product user (SE LAP 374)

CASE STUDY: An instructional method that involves giving trainees a written description of an organizational problem, and the trainees are asked to determine the problem and potential solutions (MN LAP 50, SE LAP 123)
An intense analysis of a person, group, or event (IM LAP 284)

CASH: Currency and coins (FI LAP 85)

CASH ACCOUNTING METHOD: An accounting method in which income and expenditures are recorded at the time the money changes hands (FI LAP 85, QS LAP 38)

CASH CONVERSION CYCLE: Ratio that refers to the number of days between a company’s paying for raw materials and receiving cash from selling the products made from those raw materials (FI LAP 7)

CASH DISCOUNT: A deduction from the seller’s price for paying the invoice amount within a specified number of days; a time-based discount (PU LAP 3)

CASH FLOW: The movement of funds into and out of a business; determines the amount of cash the business has to work with at any given time (FI LAP 91, IM LAP 3, PI LAP 3, QS LAP 45, SM LAP 7)

CASH FLOW STATEMENT: A financial summary with estimates as to when, where, and how much money will flow into and out of a business (FI LAP 85, FI LAP 91, FI LAP 351, IM LAP 184, SM LAP 13)
A financial summary that states how much money has flowed into and out of a business (QS LAP 36, QS LAP 38, QS LAP 39)

CASH PAYMENTS: The money that a business spends (e.g., business expenses) (FI LAP 91)

CASH RECEIPTS: The money that a business collects (e.g., business income) (FI LAP 91)

CASH SURPLUS: The situation that exists when more money flows into a business than flows out (FI LAP 91)

CASUAL FRIDAYS: A dress-code trend in business for employees to dress more informally than usual on Fridays (PD LAP 2)

CASUAL LOOKER: A “just looking” customer who does not intend to buy at the time, but if treated courteously, often does buy (SE LAP 101)

CASUAL RELATIONSHIP: A relatively unstructured relationship with few rules, such as the relationship with a personal friend (HR LAP 1)

CATALYST: An agent that provokes or speeds significant change or action (EI LAP 1, QS LAP 14)

CAUSAL RESEARCH: Marketing research that focuses on cause and effect and tests "what if" theories. Also known as conclusive research (IM LAP 10)
Marketing research that focuses on cause and effect and tests “what if?” theories

CAUSE-AND-EFFECT DIAGRAM: A chart used to identify many potential causes of a problem and to sort them into useful categories; also called a fishbone diagram or an Ishikawa diagram (OP LAP 8)

CAUTION: Care taken to avoid danger or mistakes (EI LAP 92)

CELEBRITY ENDORSER: Well-known person who approves, promotes, or supports a good or service, usually for pay (PM LAP 140)

CELLER-KEFAUVER ANTIMERGER ACT: A federal regulation intended to protect competitors from takeovers that would limit competition (EC LAP 8)

CENSORSHIP: Suppression of ideas (PD LAP 12)

CENSUS: A count or measure of every single unit in a target population (IM LAP 285)

CENTER OF INFLUENCE: A dominant member of a group (SE LAP 116)

CENTER-OF-INFLUENCE METHOD: A method of prospecting in which salespersons asks a dominant member of a group to use or to endorse her/his products (SE LAP 116)

CENTRAL BANK: A nation’s main monetary authority (EC LAP 30)

CENTRAL PLANNING: Detailed economic processes and goals developed by government; usually associated with communist economies (EC LAP 17)

CENTRAL REGISTRATION DEPOSITORY (CRD): A computerized database containing information about most brokers, including complaints filed and education and work history (QS LAP 48)

CENTRAL WRAP: A wrap station that packs and wraps customer purchases for several sections or departments in a store (SE LAP 105)

CENTRALIZED TRAINING: Sales training that is conducted at the home office, plant locations, or central training facilities away from the home office (SE LAP 123)

CEO: Chief executive officer of a business (QS LAP 40)

CERTIFICATES OF DEPOSIT: Lending investments in which individuals lend money to a bank to earn a set rate of interest for a specified period of time (FI LAP 77, QS LAP 32, QS LAP 40)

CERTIFICATION: An indication that a person has established a certain level of competency in a specific skill area (PD LAP 3)

CERTIFICATION AUTHORITY: A trusted, third party that issues digital certificates guaranteeing that a merchant is who s/he claims to be (BA LAP 4)

CFA (CHARTERED FINANCIAL ANALYST): A professional designation for people who evaluate companies and industries and make recommendations to buy, sell, or hold certain securities (QS LAP 51)

CFP (CERTIFIED FINANCIAL PLANNER): A professional designation for personal financial advisors requiring a combination of education, examinations, and experience (QS LAP 51)

ChFC (CHARTERED FINANCIAL CONSULTANT): A professional designation for personal financial advisors requiring a combination of education, examinations, and experience, with an emphasis on retirement and estate planning (QS LAP 51)

CPA (CERTIFIED PUBLIC ACCOUNTANT): A professional designation for people who prepare, analyze, and verify a variety of financial data (QS LAP 51)

CHAIN DISCOUNT: A series discount (PU LAP 3)

CHAIN OF COMMAND: The flow of authority within an organization; also called line of command (EC LAP 103, EN LAP 38)
The flow of authority within an organization (PD LAP 252, SM LAP 64)
An official hierarchy of authority that determines who is in charge of whom (EI LAP 135)

CHALLENGE: An obstacle or problem; something that might hinder the achievement of goals (PD LAP 66)

CHAMBER OF COMMERCE OF THE UNITED STATES: A national federation of businesses and companies that makes known to the government the recommendations of the business community on national issues and problems affecting the economy. Address: 1615 H Street, Washington, D.C. 20062 (CD LAP 1)

CHANGE: To transform or make different; to alter the form, nature, content, or future course of something (EI LAP 22, HR LAP 8, QS LAP 23)

CHANGE LEADER: A person who initiates and facilitates change at home, at school, or at work (EI LAP 22)

CHANGE-MANAGEMENT PLAN: In project planning, a document that contains strategies for handling unforeseen changes that may occur during the project (e.g., a natural disaster) (OP LAP 1)

CHANGE TO WIN FEDERATION: A coalition of North American labor unions founded in 2005 (EC LAP 5)

CHANNEL LENGTH: The total number of channel members in a channel of distribution (CM LAP 2)

CHANNEL MANAGEMENT: Processes by which marketers ensure that products are distributed to customers efficiently and effectively (CM LAP 2)
A marketing function that involves identifying, selecting, monitoring, and evaluating sales channels (MK LAP 1)

CHANNEL MEMBERS: Businesses or individuals who assist in moving goods and services from the producer to the consumer (CM LAP 2, SE LAP 117)

CHANNELS OF DISTRIBUTION: Paths, or routes, that goods or services take from the producer to the ultimate consumer or industrial user (CM LAP 2, CM LAP 3, MK LAP 1, PR LAP 1)

CHARGEBACK: A financial penalty a middleman assesses a producer for a variety of issues, such as receiving damaged merchandise (CM LAP 2)

CHARISMA: Attractiveness to others, often through a charming personality (EI LAP 135)

CHARTER: A permit issued to operate as a corporation; also known as a certificate of incorporation (BL LAP 6)

CHAT ROOMS: Sites on a network in which users communicate with each other in real time (BA LAP 3)

CHEATING: Dishonest behavior that involves tricking or misleading others (HR LAP 19)
Acting fraudulently or deceitfully (EI LAP 138)

CHECK SHEET: A form for collecting data on the spot; often used to measure product defects by type, cause, location, etc. (OP LAP 8)

CHECKERS: Receiving workers who unpack, sort, count, and inspect goods (DS LAP 5)

CHECKING: The step in the receiving process in which shipments of goods are unpacked, sorted, counted, and inspected (DS LAP 5)

CHIEF RISK OFFICER (CRO): An executive responsible for a business’s risk management activities, which include planning, controlling, preventing, and limiting of business losses and enhancing possibilities for gain (SM LAP 75)

CHILD ONLINE PROTECTION ACT: A law designed to protect the privacy of children under the age of 13 from the information-gathering practices of online businesses (BA LAP 5)

CHOICE CLOSE: A closing technique in which the salesperson helps the customer reach a buying decision by reducing the number of items from which to choose, and then asking the customer to choose between the remaining ones (SE LAP 895)

CHRONIC: Happening over and over again (EI LAP 36, HR LAP 11)

CHURNING: An unethical practice in which a broker encourages an investor to make excessive trades just so s/he can collect the commission fees from each one (QS LAP 48)

CIGARETTE LABELING AND ADVERTISING ACT: A federal law passed in 1967 requiring cigarette labels to carry warnings about the hazards of smoking (PP LAP 7)

CIRCULAR FLOW OF INCOME MODEL: A simplified depiction of how money flows through a market economy; shows money going back and forth between consumers and businesses (EC LAP 27)

CIRCULATION: The number of people reached by a media vehicle (PR LAP 6)

CIVIL LAW: Laws that deal with rights and duties of private entities and disputes between them (BL LAP 163)

CIVIL RIGHTS ACT OF 1964: A federal act that forbids discrimination in any condition of employment on the basis of race, color, religion, sex, or national origin (MN LAP 53, MN LAP 55)

CIVIL RIGHTS ACT OF 1991: A law that expanded previous civil rights legislation by allowing employees who feel they have been the victims of discrimination to sue their employers (MN LAP 55)

CLAIM: A request for reimbursement for loss or damage (DS LAP 5)

CLARIFICATION: The process of making something clear and understandable (QS LAP 24)

CLASSICAL THEORY OF UNEMPLOYMENT: A set of ideas that assumes unemployment begins when wages rise too high and can be controlled by cutting wages (EC LAP 29)

CLAYTON ACT: A federal regulation intended to prevent specific business actions that might prohibit competition, e.g., tying agreements and exclusive agreements (EC LAP 8)
A federal law that prevents price discrimination (PI LAP 47)

CLERICAL PERCEPTION: Ability to see differences in words and numbers needed in order to do such tasks as proofreading, accounting, etc. (HR LAP 2)

CLICHE: A phrase or expression that is overused (PR LAP 9)

CLICK-THROUGH: The act of clicking on an advertisement on the Internet and being automatically transported to the advertiser's web page (PR LAP 6, PR LAP 14)

CLIENT LOYALTY: The devotion of a client to a particular business (SE LAP 115)

CLIENTELE: A body of customers upon which an organization can rely for considerable repeat business (HR LAP 19, HR LAP 25, SE LAP 115)

CLIMATE: The mood of a media vehicle (PR LAP 5)

CLOSE: The point in the selling process at which the customer makes a favorable buying decision (SE LAP 48)
The last stock price of the day; also called closing price (QS LAP 37)

CLOSED-END MUTUAL FUND: Fund with a set number of shares to be issued, determined before the fund is ever established (QS LAP 35)

CLOSED-END(ED) QUESTION: A question that is structured so that it requires a short, precise response (CO LAP 17, SE LAP 120)

CLOSED-RESPONSE QUESTION: A question that can be answered with “yes” or “no” (SE LAP 112)

CLOSED WOUND: An injury in which the skin is not broken, but the tissue and/or organs underneath are damaged (RM LAP 3)

CLOSING ON OBJECTION: A closing technique in which a salesperson answers a customer's objection so that the customer no longer has a reason not to buy (SE LAP 895)

CLOSING PRICE: The last stock price of the day; also called the close (QS LAP 49)

CLOSING THE SALE: The point in a sales presentation at which the customer makes a favorable buying decision

CLOUD STORAGE: Online storage that enables users to upload, store, and access their files via the Internet; users’ files are maintained by a third-party at a remote database storage facility (NF LAP 1)

CLUSTER: In probability sampling, a non-overlapping subpopulation determined by geography (IM LAP 285)

CLUSTER SAMPLING: A probability sampling method in which researchers divide the target population into non-overlapping subpopulations that are determined by geography, and then randomly sample each one (IM LAP 285)

CLUTTER: The existence of a large number of advertisements within a particular media vehicle (PR LAP 5) Jumble; disorderly arrangement (HR LAP 4)

COACHABILITY: Willingness to receive correction and instruction (EI LAP 75)

COACHEE: A person who works toward reaching his/her goals with help from a coach (EI LAP 41)

COACHING: An on-the-job instructional method in which a manager or supervisor is assigned a "coach" to set goals, give assistance in reaching goals, and give ongoing performance feedback (MN LAP 50)
Enabling other people to reach their true potential by helping them to overcome the barriers that are keeping them from doing so (EI LAP 41, QS LAP 7)

CO-BRANDING: A brand strategy that involves businesses joining forces for mutual benefit and to increase brand recognition, customer loyalty, and sales for both brands (PM LAP 6)

CODE: A set of symbols and rules that represent computer instructions (BA LAP 5)

CODE OF BEHAVIOR: The way a person behaves based on his/her internal beliefs and standards (PD LAP 2)

CODE OF CONDUCT: A set of rules and standards that govern the expected practices, decisions, procedures, and systems within an organization (EI LAP 132, PD LAP 251) A policy that contains a set of rules describing how individuals within a certain organization are expected to act (PD LAP 250)

CODE OF ETHICS: A set of rules for governing behavior (EC LAP 106, EI LAP 132, FI LAP 351, FI LAP 355)
An organizational code that outlines the ethical standards to which the organization expects its members to adhere (HR LAP 411)

CODEPENDENT RELATIONSHIP: A relationship in which one person compromises her/his own needs and wants in order to care for another person who may be experiencing emotional, physical, or financial difficulties (EI LAP 30)

COERCIVE POWER: The use of threats to motivate followers to complete a desired task by setting up consequences for failure (EI LAP 135)

COGNITIVE ABILITY: The capacity to learn and to understand (EI LAP 1, QS LAP 14)

COHESIVENESS: The ability to work smoothly together as a unit (EC LAP 107)

COLD CALLS: Unannounced visits by a salesperson to prospects about whom little may be known (SE LAP 115, SE LAP 116)

COLD WAR: A state of heightened tension that existed between the Eastern and Western parts of the world, lasting from the end of World War II until approximately 1991 (EC LAP 104)

COLLABORATION: Cooperation; a joint effort (EI LAP 41, EI LAP 60, QS LAP 7)
A cooperative arrangement where two or more parties contribute and share responsibilities to achieve success (EI LAP 130)
Working together by drawing from one another’s knowledge and experience (EI LAP 1, EI LAP 19)

COLLABORATIVE: A negotiating style in which two parties work together to reach a mutually beneficial agreement (EI LAP 62, QS LAP 3)

COLLABORATIVE GROUPWARE: Computer software designed to help team members achieve group goals (OP LAP 6)

COLLATERAL: Anything of value belonging to the borrower that is pledged to the lender to guarantee that the loan will be repaid (FI LAP 2)

COLLECTIBLES: Objects collected by someone who has an interest in the sport, activity, etc. (MK LAP 12)
Objects or items collected by someone who has an interest in the sport, activity, etc.; in investing, the collector hopes to eventually resell the items at a profit (FI LAP 77, QS LAP 32)

COLLECTIVE BARGAINING: The negotiating process in which union leaders and company representatives engage to determine the terms and working conditions that are to be provided to employees (BL LAP 58, EC LAP 5)

COLLECTIVE MARK: A trademark or service mark used by members of a cooperative, association, or other group or organization (PM LAP 14)

COLLECTIVISM: An emphasis on group work and accomplishments (EI LAP 33)

COLLECTIVIST SOCIETY: A society in which people are integrated into strong, loyal groups, such as extended families (EC LAP 45)

COLUMN INCH: A unit of measurement for print advertising (PR LAP 6)

COMBATIVE: A negotiating style in which one or both parties consider only their interests and fight to achieve a desired outcome at any cost (EI LAP 62, QS LAP 3)

COMBINATION APPROACH: A type of sales opening that uses any combination of service, merchandise, and/or greeting approaches (SE LAP 101)

COMBINATION RATE: A discount rate offered for advertising in two or more media vehicles owned by the same organization (PR LAP 6)

COMMAND ECONOMY: An economic system in which all or many of the means of production and distribution are owned and controlled by the government (EC LAP 17)

COMMERCIAL BANK: Full-service bank offering a variety of banking services including checking and savings accounts, secured and unsecured loans, installment credit, and bank credit cards (Career Opps in Finance, FI LAP 2, QS LAP 51)

COMMERCIALIZATION: The point at which a product goes into full-scale production, the marketing plan is put into place, service and sales training are done, and the product’s life cycle begins (PM LAP 17)

COMMISSION: A percentage of the total sale amount paid to the individual or business that makes the sale (BL LAP 1, CR LAP 10, SE LAP 875, SE LAP 895, SM LAP 4)

COMMITMENT: The practice of agreeing or pledging to do something in the future (EI LAP 77)

COMMITTEE: An appointed group of people that is dedicated to a specific matter (EI LAP 45)

COMMODITIES: Raw materials that can be bought and sold (EC LAP 28)

COMMON LAW: Laws created by court decisions rather than through written legislation (BL LAP 163)

COMMON STOCK: A basic share of ownership in a company that comes with voting rights (QS LAP 34)

COMMUNICATION: An exchange of information in which the words and gestures are understood in the same way by both the speaker and the listener (EC LAP 103, EI LAP 60, EI LAP 121, IM LAP 7, MK LAP 19, MN LAP 54, QS LAP 10)
The two-way process of sending and receiving information, ideas, feelings, and beliefs (EI LAP 108, EI LAP 140)

COMMUNICATIONS PLAN: In project planning, a document that contains strategies for managing the flow of information that must occur between all the project’s stakeholders throughout the life of the project (OP LAP 1)

COMMUNICATION SKILLS: Ability to express yourself clearly and simply (Career Opps in Finance, CD LAP 2, EI LAP 130, QS LAP 18, SE LAP 117)
The ability to express thoughts and ideas in a clear manner (Career Opps in BMA, Career Opps in Hosp, PD LAP 66)

COMMUNISM: A command economic system in which the government controls the economic system and does not allow private ownership of the means of production and distribution (EC LAP 17)

COMMUNITIES OF PRACTICE: Diverse groups of employees across the organization who regularly meet to share knowledge and communicate with one another to encourage knowledge management practices (KM LAP 1)

COMMUNITY AT LARGE: Individuals who live in the area where the sport/event is held (PR LAP 136)

COMMUNITY NEWSPAPER: A suburban or rural paper delivered to residents in a geographic area (PR LAP 3)

COMMUNITY-PROPERTY STATE: A state in which the laws consider any property received through efforts of a husband or wife as the joint property of both (FI LAP 1)

COMMUNITY RELATIONS: A business or organization's efforts to create goodwill between it and the people in the community (PR LAP 10)

COMMUTING: Traveling from one area to another on a regular basis (HR LAP 19)

COMPANY LEADS: Information about and contact with potential customers provided by a company, its advertising, participation in trade shows, or telephone and mail solicitation (SE LAP 115)

COMPANY POLICY: Rules made in advance by management to assist employees in decision-making at the point of sale (SE LAP 105)

COMPARATIVE ADVANTAGE: The advantage achieved by a nation from specializing in and producing goods and services at which it is most efficient, relative to another country (EC LAP 4)

COMPARISON SHOP: The act of visiting other businesses to learn what competing stores are selling and the prices they charge (SE LAP 112)

COMPARTMENTALIZATION: The process of dividing into sections or categories (EI LAP 77)

COMPASSION: A deep awareness of someone else's needs and a desire to help meet those needs (EI LAP 21, EI LAP 30)

COMPENSATION: Pay or wages for work completed (HR LAP 35, SM LAP 4)

COMPETENCE: The ability to do what needs to be done; capability (EI LAP 16, FI LAP 355, PM LAP 19, QS LAP 27)

COMPETENCY: A skill, knowledge, or attitude needed by an employee to be successful in his/her job (MN LAP 50)

COMPETENT: Able to do what needs to be done; capable; well qualified (HR LAP 4)

COMPETITION: The rivalry between two or more businesses to attract scarce customer dollars (CR LAP 1, EC LAP 3, EC LAP 15, EC LAP 17, EC LAP 105, MK LAP 1, NF LAP 15, PI LAP 2, PM LAP 1, PM LAP 3, PM LAP 19, SE LAP 117)
The rivalry among two or more businesses to attract scarce customer dollars (EC LAP 8)

COMPETITIVE: A negotiating style in which one or both parties view the negotiation as a game-like challenge or a rivalry; one or both parties consider only their interests to achieve a desired outcome (EI LAP 62, QS LAP 3)

COMPETITIVE ADVANTAGE: The edge achieved by businesses that offer something better than their competitors (EC LAP 18, IM LAP 2, PD LAP 126, PR LAP 15, PM LAP 19)
Any condition or circumstance that puts a business in a favorable position over its competitors (CR LAP 17)

COMPETITIVE ANALYSIS: The process of comparing a business’s income statement with that of its competitors to see how it is doing by industry standards (FI LAP 4, MK LAP 1)

COMPETITIVE BIDDING PROCESS: A method of collecting price quotes from suppliers vying for an order or job (OP LAP 2)

COMPETITIVE INTELLIGENCE: The process of defining, gathering, analyzing, and distributing information about competitors’ strengths and weaknesses to enhance business decision-making (IM LAP 25)

COMPETITOR: A rival business that seeks to attract the same scarce customer dollars (IM LAP 9, PR LAP 2, QS LAP 40)

COMPLAINING CUSTOMERS: Customers who believe everything is going wrong for them and everybody is either taking advantage of them or not really trying to help (CR LAP 9)

COMPLAINT: Customer's expression of a dissatisfaction (HR LAP 23)
A customer’s expression of dissatisfaction (CR LAP 4, CR LAP 10)

COMPLEMENTARY GOODS: Products that are used together, e.g., skirts and blouses, ski boots and skis, software and computers (EC LAP 11)

COMPLEMENTARY PRODUCTS: Goods and/or services that are used together (e.g., skirts and blouses, ski boots and skis, software and computers) (PM LAP 127, SE LAP 131)

COMPLEXITIES: Things or ideas that are complex or made up of many interrelated parts (PD LAP 2)

COMPLEXITY: The state of being intricate or complicated (EI LAP 92)

COMPLIANCE: Fulfilling the requirements of the law (FI LAP 343, HR LAP 35, MN LAP 55, NF LAP 1, NF LAP 110)

COMPOUNDING: Earning interest upon interest (QS LAP 30, QS LAP 45)

COMPROMISE: Giving in to another’s wishes so that an agreement may be reached (EI LAP 62, EI LAP 19, QS LAP 17)

COMPUTER-AIDED DESIGN (CAD): The use of technology and software to create, test, and rework products in the virtual world before spending money to produce them in the physical world (OP LAP 189)
The use of computer technology to plan, design, test, and alter products (NF LAP 4)

COMPUTER-AIDED ENGINEERING (CAE): See computer-aided design (OP LAP 189)

COMPUTER-AIDED MANUFACTURING (CAM): A process in which computers are used to collect and store data and to instruct automated manufacturing equipment in the production process (OP LAP 189)
The use of computer software to control machines, tools, and processes involved in manufacturing products (NF LAP 4)

COMPUTER-INTEGRATED MANUFACTURING (CIM): An operating system that integrates technology and software throughout the entire production process from start to finish (OP LAP 189)

CONCEPT MAPPING: A method of clarifying and organizing ideas by using a graphic format to show relationships (PD LAP 2)
A visual technique designed to organize and expand on thoughts and ideas (PD LAP 12)

CONCEPT TESTING: Exploring the concept, or idea, for a product in order to obtain feedback (PM LAP 17)

CONCEPTUAL SKILLS: The ability to think about how things will work together (MN LAP 50, PD LAP 3)
The ability to see the “big picture” and think about how things will work together (SM LAP 3)

CONCESSION: Something that is given up during a negotiation (EC LAP 5, EI LAP 62)

CONCLUSIVE RESEARCH: Causal research; marketing research that focuses on cause and effect and tests “what if” theories (IM LAP 10)

CONCURRENT ENGINEERING: A method in which the various stages of product design and development are performed at the same time, instead of one after another; also called simultaneous design (OP LAP 8)

CONDUCT AND PRACTICES EXAM: Licensing requirement for Canadian brokers (QS LAP 48)

CONFERENCE (DISCUSSION) METHOD: An instructional method that involves the use of a highly qualified group leader to help a group identify and define a problem and to guide the group in discussion and consensus-reaching (MN LAP 50)

CONFIDENCE: A positive belief in your own talents, skills, and objectives (EI LAP 131, SE LAP 131)

CONFIDENTIALITY: Secrecy or privacy (EI LAP 138)
The practice of keeping information secret or private (FI LAP 351, FI LAP 355, IM LAP 25, PD LAP 251)

CONFIDENTIALITY AGREEMENT: A legally binding promise not to disclose information about another party (BA LAP 5)

CONFIRMING PROBE: A technique for probing that can be used to check for understanding or accuracy (SE LAP 120)

CONFLICT: A disagreement (EI LAP 7, EI LAP 25, EI LAP 45)

CONFLICT(S) OF INTEREST: A situation in which it is impossible to be truly impartial (FI LAP 351, IM LAP 25, OP LAP 190, PD LAP 251, RM LAP 41)

CONFLICT OF NEEDS: Situation that occurs when a customer needs two or more items at the same time but can only afford one (SE LAP 874)

CONFLICT RESOLUTION: The process of resolving or ending a conflict (EI LAP 7)

CONFLICT RESPONSE MODE: The manner in which a person reacts or handles conflict when a disagreement occurs (EI LAP 7)

CONFORMANCE: Compliance with standards (QM LAP 1)

CONFORMITY: The tendency to behave in the same way that everyone else is rather than exercising our own judgment (FI LAP 355)

CONNOTATION: Associated or underlying meaning (EI LAP 33)

CONS: Negative characteristics (PD LAP 17, QS LAP 2)

CONSCIENTIOUS: Careful (HR LAP 11)

CONSCIOUS: Mindful or deliberate (HR LAP 4)

CONSENSUS: A decision-making outcome that requires the substantial agreement of each group member (EI LAP 19, QS LAP 17)

CONSENSUS BUILDING: A group’s process of coming to a consensus; the action of bringing a group to a consensus (EI LAP 19, QS LAP 17)

CONSENSUS SCALE: A measure of each group member’s feelings toward a proposed decision or solution (EI LAP 19)

CONSEQUENCE: The result of an action (EC LAP 106, EI LAP 4, EI LAP 21, EI LAP 30, EI LAP 123, EI LAP 124, EI LAP 128, EI LAP 137, QS LAP 24)

CONSERVE: To slow down the use of something to make its supply last longer than it would otherwise (EC LAP 14)

CONSERVATIVE: Purposely low for the sake of caution (FI LAP 99)

CONSERVATIVE INVESTOR: An investor with a low tolerance for risk (QS LAP 41, QS LAP 45)

CONSISTENCY: A product-mix dimension referring to how closely a company's product lines are related in terms of the products' end use, methods of distribution and production, target market(s), and/or price range (PM LAP 3)
A product's ability to deliver the same level of quality and satisfaction time and time again (PM LAP 79)
Reliably producing similar results (EI LAP 128)
Stability; regularity (NF LAP 110)

CONSISTENT: Unchanging (CR LAP 17, EI LAP 127, EI LAP 131, FI LAP 9)

CONSOLIDATION: A form of business growth in which a corporation acquires many smaller companies (BL LAP 1)

CONSOLIDATION (OF FINANCIAL STATEMENTS): The combining of financial statements of more than one company for a parent company’s report (QS LAP 38)

CONSTRUCTIVE CRITICISM: Evaluative information designed to help someone improve (EI LAP 14, EI LAP 27, EI LAP 41, HR LAP 11, MN LAP 53, QS LAP 7)
A type of negative feedback that provides evaluative information designed to help someone improve (EI LAP 15, QS LAP 20)
Advice that is useful and intended to help or improve something (EI LAP 133)

CONSTRUCTIVE DIALOGUE: Conversation that is positive and helpful (EI LAP 136)

CONSUMABLE PRODUCTS: Goods that are used up and therefore need to be replaced (PR LAP 13)

CONSUMER: Anyone who uses goods and services (EC LAP 6)

CONSUMER AFFAIRS DEPARTMENT: A division of local government that assists consumers in handling problems (PP LAP 7)

CONSUMER BEHAVIOR: Manner in which individuals act that determines what they buy and sell (CD LAP 2)

CONSUMER-BEHAVIOR TRACKING: The process of collecting information about web-site visitors (BA LAP 4)

CONSUMER BUYING POWER: Cash and credit a consumer has available to spend (EC LAP 11)

CONSUMER CREDIT PROTECTION ACT: A federal law passed in 1968 requiring businesses to disclose their annual interest rates to consumers; also known as the Truth-in-Lending Act (PP LAP 7, PM LAP 7)

CONSUMER DISCRETIONARY SECTOR: Purchasers with an amount of income left to spend or dispose of after they have paid their taxes (QS LAP 44)

CONSUMER FINANCIAL PROTECTION BUREAU: The federal agency charged with making financial products safe for consumers (PM LAP 7)

CONSUMER GOODS: Tangible items produced for personal use (CM LAP 3, EC LAP 17, OP LAP 17)

CONSUMER GOODS PRICING ACT: A federal law that gives retailers the right to establish a product’s final price (PI LAP 47)

CONSUMER GOODS AND SERVICES: Products produced for personal consumption (EC LAP 10, EC LAP 14)

CONSUMER MAGAZINES: Magazines that are generally read by individuals for personal enjoyment during their leisure time (PR LAP 3)

CONSUMER MARKET: A customer or potential customer who purchases goods or services to satisfy personal desires (MP LAP 3)

CONSUMER PRICE INDEX (CPI): A monthly measure of the U.S. inflation rate, taken by comparing price changes for a representative section of consumer goods and services (EC LAP 28, IM LAP 184)

CONSUMER PRODUCT: Any good or service intended for use by individuals rather than businesses (PM LAP 7)

CONSUMER PRODUCT SAFETY ACT: A federal law passed in 1972 to establish the Consumer Product Safety Commission and give it jurisdiction over the safety of the majority of consumer products (PP LAP 7, PM LAP 7)

CONSUMER PRODUCT SAFETY COMMISSION: The regulatory agency established by the federal government to enforce product safety laws (PP LAP 7)

CONSUMER PRODUCTS: Goods and services purchased and used by consumers (IM LAP 3)

CONSUMER PROTECTION: All the efforts to safeguard consumers from any kind of injury they might suffer in the process of purchasing and/or using consumer products (PP LAP 7, PM LAP 7)

CONSUMERS: People who use goods and services to satisfy their wants (EC LAP 10, EC LAP 12, EC LAP 13, EC LAP 17)

CONSUMPTION: The process or activity of using goods and services (EC LAP 9)
The economic process or activity of using goods and services (EC LAP 6)

CONTACT PERSON: An individual with whom the media can get in touch at a business or organization in order to obtain additional information about a news release (PR LAP 10)

CONTENT: The text, images, and sounds that appear in the large window when an e-mail is being created or when it is opened; also known as body (PR LAP 14)

CONTENT THEORIES: Theories of motivation that focus on internal needs, drives, and incentives which cause people to behave in a certain manner (MN LAP 47)

CONTINGENCY: An event that may occur in the future but cannot be predicted with accuracy (OP LAP 1)

CONTINGENCY PLAN: The specific guidelines that are used when responding to undesirable circumstances; an alternative course of action (EI LAP 23, QS LAP 15)
The specific guidelines that are used when responding to undesirable circumstances (PR LAP 136)
Specific guidelines and activities used when responding to undesirable circumstances; an alternative course of action (SM LAP 75)

CONTINGENT CLOSE: A closing technique that depends upon the salesperson's proving a point to the customer to remove obstacles to the sale (SE LAP 895)

CONTINGENT LIABILITIES: An obligation that a company may or may not have to pay (FI LAP 10)

CONTINUAL IMPROVEMENT: A business strategy in which an organization continuously evaluates its business processes to make them more effective and efficient; also called continuous improvement (OP LAP 8)

CONTINUOUS: Ongoing; without stopping (SM LAP 4)

CONTINUOUS BUDGET: See rolling budget (FI LAP 99, FI LAP 106)

CONTINUOUS IMPROVEMENT: A business strategy in which an organization continuously evaluates its business processes to make them more effective and efficient (CR LAP 16)

CONTINUOUS PRODUCTION PROCESS: A production process that turns out products without stopping (OP LAP 17)

CONTINUOUS STRATEGY: A media timing strategy that emphasizes a steady, even scheduling of media following a regular pattern (PR LAP 5)

CONTRACT: A legally binding agreement between two parties (FI LAP 9)
A written agreement that is enforceable by law (PR LAP 175)

CONTRACTION: The phase of the business cycle characterized by decreased demand for goods and services, rising unemployment, increased saving by consumers, and reduced sales and profits for businesses (EC LAP 9)
A product-mix strategy in which a business removes, or deletes, product items or product lines from its product mix (PM LAP 3)

CONTRACTS/AGREEMENTS: Legal agreements between two or more businesses stating that one party is to do something in return for something provided by the other party (BA LAP 5, EC LAP 3, NF LAP 1)

CONTRACTUAL AGREEMENTS: Agreements between two or more people stating that one party is to do something in return for something provided by another party (EC LAP 3)

CONTRADICTORY: Not in line with; against (QS LAP 22)

CONTRASTING ADVANTAGES AND DISADVANTAGES CLOSE: A closing technique that involves comparing a product's pros and cons (SE LAP 895)

CONTRIBUTE: Give or donate resources (QS LAP 19)

CONTROL CHART: A graph used to study how a process changes over time (OP LAP 8)

CONTROLLER: An accountant who directs the preparation of financial reports such as balance sheets and income statements; often in charge of accounting and auditing for an entire company (QS LAP 51)

CONTROLLING: The management function that monitors the work effort (SM LAP 3, SM LAP 4)

CONTROVERSIAL TOPIC: A subject about which people have strong feelings (EI LAP 36)

CONVENIENCE GOODS: Consumer goods purchased quickly and without much thought or effort (SE LAP 101)

CONVENIENCE PRODUCTS: Consumer goods and services purchased quickly and without much thought or effort (EC LAP 10)
Goods and services purchased quickly and without much thought or effort (PR LAP 1)

CONVENIENCE SAMPLING: A non-probability sampling method in which researchers choose respondents based on opportunity (e.g, standing outside a store to interview exiting customers) (IM LAP 285)

CONVERSATION: Talk between people (QS LAP 4)

CONVERSION PROCESS: The process of turning economic resources into products (OP LAP 17)

CONVERSIONS: Desired actions taken by customers/users (IM LAP 184)

CONVERTIBLE BONDS: Bonds that can be changed into stocks at a later time (QS LAP 33)

CONVEYOR BELT: A stationary machine with a large, wide, moving belt that transports goods (RM LAP 2)

COOKIES: Text files that are put on a website visitor’s hard disk and then later retrieved during subsequent visits to the site in order to track Internet behavior (BA LAP 4, BA LAP 5, CR LAP 17, IM LAP 10, IM LAP 25)
Mechanisms used by websites to track users’ browsing histories (IM LAP 17)

CO-OP: Paid work experiences planned and managed by a coordinating teacher that expose individuals to a variety of job responsibilities (PD LAP 3)

COOPERATION: The willingness to work with another person to resolve differences (EI LAP 7, PD LAP 251)
The willingness to work well with others to achieve a common goal (EI LAP 130)

COOPERATIVENESS: A willingness to work well with others to achieve a common goal (EI LAP 9, EI LAP 240)

COPY: The text of an advertisement that provides readers with information; the sales message(PR LAP 7, PR LAP 9)

COPYRIGHT: Legal protection of books and other artistic works granted by government and giving their creators sole rights to them for a certain period of years (BA LAP 5, FI LAP 10, NF LAP 1)

Legal protection of original works and intellectual properties granted by the government to give their creators sole rights to them (PM LAP 139)

COPYRIGHT HOLDER: The person who has been given the sole rights to materials for a certain period of years (BA LAP 5)

COPYRIGHT INFRINGEMENT: A violation of the rights of the person who owns a copyright (BA LAP 5, EN LAP 44)

COPYWRITER: An individual who writes advertising copy (PR LAP 9)

CORE VALUES: Brand values; beliefs or qualities that a corporate brand stands for and is built around (PM LAP 10)

CORPORATE BONDS: Bonds issued by corporations to fund operating expenses (QS LAP 33)

CORPORATE BRAND: All the combined customer impressions and experiences associated with a particular company (PM LAP 17, PM LAP 20)
All the combined impressions and experiences associated with a particular company; a brand representing a company or parent business entity (IM LAP 10, PM LAP 10)

CORPORATE CAMPAIGN: A union pressure strategy that involves disrupting shareholder meetings or buying up stock (EC LAP 5)

CORPORATE CULTURE: The values and ideals that an organization encourages among its employees (CR LAP 1, CR LAP 16)
The values and ideals that an organization encourages among its employees; also called organizational culture (CR LAP 6)

CORPORATE FINANCE: A function in a company that manages policy and strategy for (and the implementation of) capital structure, budgeting, acquisition and investment, financial modeling and planning, funding, dividends, and taxation (Career Opps in Finance, FI LAP 355, PD LAP 15)

CORPORATE GOVERNANCE: The system by which directors handle their responsibility toward shareholders (QS LAP 39)

CORPORATE RESPONSIBILITY: A business’s active efforts to create a positive impact on its employees, the community, and the environment (MK LAP 19)

CORPORATE SALES: In sports, the marketing of private seats or luxury boxes to businesses for use on their “company nights” or to entertain clients (PD LAP 51)

CORPORATE SOCIAL RESPONSIBILITY: The duty of businesses to contribute to the well-being of society (EN LAP 44)

CORPORATION: A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, invisible, intangible, and existing only in contemplation of the law” (U.S. Supreme Court)(BL LAP 1, EC LAP 3, EC LAP 27)
A form of business ownership that is owned by stockholders who have purchased units or shares of the company; an “artificial being, intangible, and existing only in contemplation of the law” (U.S. Supreme Court) (BL LAP 6)

CORRECTIVE COUNSELING: A form of corrective discipline that requires the employee to discuss violations with a personnel counselor and to discuss repeated violations with successively higher levels of management (MN LAP 53)

CORRECTIVE DISCIPLINE: An approach to remedial action that focuses on discouraging further rule or performance violations after infractions have occurred (MN LAP 53)

CORRUGATED CARDBOARD: Cardboard for packing; an inner layer of cardboard is shaped into parallel grooves and ridges, which give the cardboard extra strength (SE LAP 105)

CORRUPTION: Dishonesty; usually refers to dishonesty within governments or businesses (EC LAP 45)

COST-BASED PRICING: A pricing method in which the business adds a predetermined mark-up to the total cost of making the product (OP LAP 9)

COST-BENEFIT ANALYSIS: A process for evaluating business decisions that involves summarizing the associated costs and benefits of the potential outcomes (FI LAP 11)

COST-EFFECTIVE: Economical; good value in relation to the price, or cost (IM LAP 2)

COST EFFICIENCY: The total cost of advertising in a medium as it relates to reaching potential prospects (PR LAP 5)

COST ESTIMATE: A ball-park figure (or guess) of how much will be spent on a given activity (SM LAP 7)

COST OF GOODS: The amount of money a business pays for the products it sells or for the raw materials from which it produces goods to sell; the amount of money a business pays for the products (or for any part of the products) it sells (EC LAP 2)
The amount of money a business pays for the products it will sell (FI LAP 91)

COST OF GOODS SOLD: The amount of money a business has paid for the goods it has sold (QS LAP 38, QS LAP 44)

COST OF GOODS SOLD/COST OF SALES: The amount of money a business pays for the product it will sell (FI LAP 4)

COST OF SALES: The amount of money a business has paid for the product (good or service) it has sold (QS LAP 38)

COST-OF-LIVING ADJUSTMENT: An annual increase in wages designed to keep up with inflation (EC LAP 5)

COST OF PRODUCTION: The total amount of money spent on costs of materials, labor, taxes, etc., to manufacture economic goods and services (EC LAP 11, IM LAP 7, MP LAP 2)

COST PER CONTACT: Total cost per interaction with a member of a target audience (PR LAP 1)

COST PER RATING POINT (CPRP): A quantitative measure of the cost efficiency of a media vehicle based on the cost of exposing a percentage of the total possible audience to a promotional message (PR LAP 6)

COST PER THOUSAND (CPM): A quantitative measure of the cost efficiency of a media vehicle calculated by determining the cost per thousand of the total audience exposed to an advertising message (PR LAP 5, PR LAP 6)

COST-PUSH INFLATION: Rising prices caused by scarce commodities (EC LAP 28)

COST STANDARDS: Established specifications used to measure how much a project or product costs (PM LAP 8)

COSTS: The expenses involved with manufacturing, promoting, and distributing a product (PI LAP 3, PI LAP 47)
Expenses (FI LAP 11, EI LAP 19)
Expenses involved with obtaining resources (QS LAP 19)

COUNSELING: An oral communication method in which a supervisor and an employee discuss the employee’s problem, and the supervisor tries to motivate the employee to find a solution (MN LAP 54)

COUNTER CURRENCY: The second currency listed in an exchange-rate quotation; its value will be equal to one unit of the base currency; also called quote currency (EC LAP 30)

COUNTERACTIVE: A public relations strategy that involves a proactive response to unfavorable publicity messages to neutralize or reverse its effects (PR LAP 136)

COUNTERFEIT BILLS: Worthless copies of legitimate paper money (RM LAP 4)

COUPON RATE: The interest rate for a particular bond (QS LAP 33)

COUPONING: A sales promotion activity that involves the use of printed certificates which entitle the holder to a reduced purchase price (PR LAP 187)

COURAGE: A strength of spirit that lets you stand up under pressure and face fear with self-confidence (EI LAP 21)

COURTESY: Polite behavior; good manners (CR LAP 1, PM LAP 19, QS LAP 8)

COVER LETTER: A letter that accompanies and refers to material which is sent to another party (PR LAP 10)

COVERAGE: The extent to which a product is available to purchase (MP LAP 7)

COVERING THE SHORT POSITION: In investing, buying shares to pay back a broker from whom shares were borrowed; a part of the short-selling process; see buying to cover (QS LAP 47)

COVERT: Secret; hidden (IM LAP 17)

CRAFT/TRADE UNION: A union made up of workers with a particular skill, e.g., plumbers, electricians (EC LAP 5)

CREATIVE DESTRUCTION: A term coined by Austrian economist Joseph Schumpeter to describe how new goods and services can hurt existing goods and services (PD LAP 126)

CREATIVE PROCESS: The process, from idea to production, by which any idea becomes reality (PD LAP 2)

CREATIVE THINKING: Thinking in a creative way, using the creative-thinking process (QS LAP 5)
A mental process involving the development of unique ideas, approaches, and solutions (PM LAP 127)

CREATIVE-THINKING PROCESS: A five-step method for encouraging your own creativity to reveal itself; includes pinpointing the question, gathering information, setting the question aside for a while, welcoming your own creative insight, and finding out if the answer works (QS LAP 5, QS LAP 29)

CREATIVE-THINKING SKILL(S): The ability to think in a creative way; the ability to use the creative-thinking process appropriately or successfully (QS LAP 5)

CREATIVITY: The ability to generate unique ideas, approaches, and solutions (CD LAP 2, HR LAP 4, EI LAP 9, EI LAP 16, EI LAP 60, EI LAP 92, EI LAP 240, PD LAP 2, PD LAP 15, PD LAP 126, QS LAP 5, QS LAP 27)
The ability to generate unique ideas, goods, or services (PD LAP 66)
The ability to generate unique ideas, possibilities, and solutions (PD LAP 12)

CREATIVITY CONSULTANTS: Companies or individuals who provide creative services for other companies (PD LAP 2)

CREDENTIALS: Information about a person’s or business’s skills, abilities, and qualifications (OP LAP 2)

CREDIBLE: Believable (CR LAP 6)

CREDIBILITY: Believability (EI LAP 21, EI LAP 131, IM LAP 25, PR LAP 5, PR LAP 8, PR LAP 9, QS LAP 10, SE LAP 131)
How much people believe what you say; believability (EI LAP 16, EI LAP 121, QS LAP 27)

CREDIT: The arrangement by which businesses or individuals can purchase now and pay later (EC LAP 13, EC LAP 71, FI LAP 2, FI LAP 85, IM LAP 7, MP LAP 2, SE LAP 119, SE LAP 130)
The arrangement by which businesses and individuals can purchase now and pay later (QS LAP 31)
An agreement in which a borrower receives a product now and pays for it later (SE LAP 932)
The ability to obtain products and pay for them later (PM LAP 7)
An amount a business is owed or paid by someone else (FI LAP 343)

CREDIT AGENCY: Business whose purpose is to maintain files of credit information on individuals and businesses (FI LAP 2)

CREDIT ANALYST: A person who assesses the requests of individuals and businesses applying for loans, makes reports to the loan committee, and helps decide if the requests should be granted (QS LAP 51)

CREDIT CARD ACCOUNTABILITY, RESPONSIBILITY, AND DISCLOSURE ACT OF 2009 (CARD): Legislation written to ban unfair interest-rate increases, prevent unfair credit card fees, ensure that contract terms are written in “plain language,” and regulate credit card companies’ marketing efforts toward young people and college students (FI LAP 2)
A federal law passed in 2009 that limits the way credit-card companies can charge consumers and aims to protect minors and students from predatory credit practices (PM LAP 7)

CREDIT DOWNGRADE: The reduction of a business’s credit rating or measure of relative credit risk; usually accompanied by an increase in expenses and a decrease in creditworthiness (SM LAP 75)

CREDIT LIMIT: The maximum amount of money that can be owed on a credit account (FI LAP 2)

CREDIT POLICY: A guideline for business to follow in controlling the use of payment plans that allow customers to purchase now and pay later (HR LAP 25)

CREDIT RATING: The score assigned to a borrower based on previous loans (EC LAP 71, FI LAP 2)

CREDIT UNION: A financial cooperative set up to provide savings and credit services to its members; usually within a business or a labor union (FI LAP 2, QS LAP 51)

CREDITORS: Individuals or businesses to whom a business owes money or from whom it wants to borrow money (EC LAP 2, FI LAP 4, HR LAP 19)

CREDITWORTHINESS: A person's past and future ability to repay a debt (FI LAP 1)

CREDITWORTHY: Financially sound enough to obtain products or money based on a promise to pay later (FI LAP 91)

CRIMINAL LAW: Laws that deal with crime and the legal punishment of criminal offenses (BL LAP 163)

CRISIS MANAGEMENT: A public relations strategy that involves the ongoing managing, planning, and coordinating of resources in the event that undesirable circumstances occur (PR LAP 136)

CRITICAL THINKING: Thinking that analyzes what the information is, where it’s coming from, and how it should be appropriately applied (QS LAP 29)
The act of reflecting on and processing information in an objective manner to form a judgment (EI LAP 136)

CRITICAL-THINKING SKILLS: Thought processes (e.g., analysis, assessment) that allow people to make sound judgments about people, ideas, situations, etc. (EI LAP 75, EI LAP 134)

CRITICISM: An analysis of something or someone that identifies any shortcomings (EI LAP 15, QS LAP 5)
A response that indicates disapproval (QS LAP 20)

CROSS-FUNCTIONAL TEAM: A team that includes members from different areas of specialization who work together to complete a task (EI LAP 45)

CROSS-PROMOTION: A celebrity’s endorsement of more than one product, or products for another company, thereby benefitting all products (PM LAP 140)

CROSS TRAINING: A systematic approach for teaching employees how to perform other people’s jobs (PM LAP 1)

CROWDFUNDING: The process of raising funds from a large group of people, usually via the Internet (OP LAP 17)

CRUDE OIL: Petroleum in its natural state before it has been refined into such products as kerosene and gasoline (IM LAP 3)

CULTURAL: Of the customs, habits, and traditions of a particular group of people (IM LAP 9)

CULTURAL INTELLIGENCE: The knowledge, ability, and willingness to adjust your opinions and behaviors so that you value and are sensitive to people and ideas from other cultures (EC LAP 105, EC LAP 107)

CULTURAL SENSITIVITY: The willingness to adjust your opinions and behaviors so that you value people and ideas from other cultures (Career Opps in Hosp, EI LAP 33)

CULTURE: The customs, habits, and traditions of a particular group of people (EC LAP 45, EC LAP 104, EC LAP 105, EI LAP 33, EI LAP 36, NF LAP 15)
The system of values, traditions, and preferences that is handed down from one generation to the next (MK LAP 14)

CUMULATIVE DISCOUNT: A type of quantity discount based on the total volume of purchases during a specified period of time; a volume-based discount (PU LAP 3)

CUP-AND-HANDLE PATTERN: In technical analysis, repetitive market (price) activity that can be used for predicting future activity; shaped like a cup with a handle (QS LAP 49)

CURBSTONE CONFERENCE: An on-the-job training evaluation technique whereby the trainer reviews the trainee’s performance immediately after the sales call is completed (SE LAP 123)

CURIOSITY: The desire to learn (PD LAP 126)
A strong desire to learn and explore (PD LAP 12)

CURRENCY: The money that a country uses to buy and sell goods and services (EC LAP 4)
Money (EC LAP 30)

CURRENCY EXCHANGE RATE: Specification of how much two currencies are worth in relation to each other (also known as exchange rate and foreign exchange rate) (NF LAP 15)
The value of one country's money in relation to another's country's money (EC LAP 28)

CURRENCY RESERVES: Foreign currencies held by central banks for use in paying debts or influencing exchange rates (EC LAP 30)

CURRENCY SPECULATION: Buying, selling, or holding currencies in an effort to profit from fluctuations in exchange rates (EC LAP 30)

CURRENT ASSETS: The sum of money the company has right now (cash), money that should be coming in within the next year (accounts receivable), and other assets that could be converted into cash (LAP QS 38)
An asset that can be converted into cash in one year or less (FI LAP 10)

CURRENT LIABILITIES: Debts that must be paid within a year (QS LAP 38)

CUSHIONING MATERIAL: Material used in packing to eliminate air space inside a box, thus preventing the goods from shifting position (SE LAP 105)

CUSTOMER-CENTRIC: Focused on customer needs and wants (Career Opps in Hosp, CR LAP 1, CR LAP 16)

CUSTOMER EXPERIENCE MANAGEMENT: The strategies, processes, and policies a business uses to meet or exceed customer expectations and to provide customers with outstanding experiences at every touch point (CR LAP 16)

CUSTOMER FEEDBACK: Evaluative or corrective information given by the customer to the salesperson (SE LAP 130, SE LAP 374)

CUSTOMER LIST: A series of information (e.g., names and e-mail addresses) about individuals who deal with a particular business (PR LAP 13)

CUSTOMER LOYALTY: The customer's preference for a business; usually expressed in regular purchases from the business (CR LAP 1, CR LAP 16, EC LAP 106, FI LAP 2, MK LAP 19, PM LAP 1, PM LAP 4, SE LAP 130)

CUSTOMER LOYALTY CARD: A swipe card issued by a retailer to track customer purchases and provide rewards (IM LAP 17)

CUSTOMER RELATIONS: All the activities a business engages in to interact with its customers (CR LAP 1)

CUSTOMER RELATIONSHIP MANAGEMENT: The strategies, processes, technology, and people a business uses to build, maintain, and maximize the long-term value of customer relationships (CR LAP 16)

CUSTOMER-RELATIONSHIP MANAGEMENT SOFTWARE: Computer programs that provide businesses with information about their customers; used to establish better relationships with top customers (PM LAP 1)

CUSTOMER SATISFACTION: A measure of how well a business has met its customers’ expectations (CR LAP 4, CR LAP 16, PM LAP 1, SE LAP 130, SE LAP 875)
A measure of how well a business or product meets or exceeds customer expectations (MK LAP 19)

CUSTOMER SERVICE: Activities and benefits provided by a business to its customers to create goodwill and customer satisfaction (Career Opps in Hosp, CR LAP 1, CR LAP 16, IM LAP 12, MK LAP 19, PM LAP 1, SE LAP 105, SE LAP 130)
A career involving performing activities that increase customer satisfaction and create goodwill (Career Opps in Marketing, CD LAP 2)

CUSTOMER-SERVICE MINDSET: The belief that giving customers good service should be a top priority of a business (PM LAP 1)
The belief that providing customers with excellent service should be a business's top priority (CR LAP 4)

CUSTOMERS: The people who buy goods and services (CR LAP 4, MK LAP 4, PR LAP 2, SE LAP 130)

CYBERLAWS: Regulations that apply to online activities (BA LAP 5)

CYBERMALL: An electronic version of a physical shopping mall (PR LAP 16)

CYBERSQUATTING: Registering a domain name with the intention of selling it to its legitimate owner for a profit (BA LAP 5)

CYCLICAL STOCKS: Stocks whose performance is tied to the overall economy; when the economy expands, these stocks rise quickly, and when the economy contracts, they fall quickly (QS LAP 34, QS LAP 40, QS LAP 42)

CYCLICAL UNEMPLOYMENT: Unemployment that rises and falls with ups and downs in the business cycle (EC LAP 29)

D

DAMAGES: Amounts of money awarded by juries to individuals or groups who have suffered loss or injury to themselves, their property, or their rights as a result of the negligence, failure to act, or unlawful act of others (PP LAP 7)

DATA: Facts and figures (FI LAP 9, IM LAP 2, IM LAP 184, IM LAP 12, IM LAP 285, NF LAP 110)
Raw facts and figures (KM LAP 1)
Information and facts (IM LAP 281, IM LAP 284)

DATA BREACH: A situation in which private data have potentially been viewed, stolen, or used by an unauthorized individual or group (CR LAP 17

DATA ENCRYPTION: The process of transforming information into a secret code so that only the recipient can read it (CR LAP 17)

DATA GATHERING: The process of collecting facts and figures (IM LAP 2)

DATA MIGRATION: The process of transferring data between storage types, formats, or computer systems (NF LAP 1)

DATA PROCESSING: Handling information, especially facts (NF LAP 1)
Converting facts and figures into useful information (NF LAP 110)
Analyzing collected facts and figures and putting them into formats useful to a business (IM LAP 2)

DATABASE: Computerized storage for information and facts (NF LAP 1, NF LAP 4)
A virtual storage unit for information (EC LAP 71, IM LAP 184)

DATELINE: The place and date of a news event positioned at the beginning of the body of a news release (PR LAP 10)

DATING TERMS OF PAYMENT: Conditions stated on an invoice indicating the percent of discount offered for early payment, the length of time the discount is offered, and the number of days in which the total bill must be paid (PU LAP 3)

DAY ORDER: In investing, an order restriction that lets a broker know the order will expire at the end of the trading day (QS LAP 47)

DAY TRADER: An investor who makes a practice of buying and selling the same investment within one trading day; can be an institutional investor (employed by an investment firm) or an independent investor (not employed by an investment firm) (QS LAP 49)

DAY TRADING: The practice of buying and selling the same investment within one trading day (QS LAP 49)

DAYPARTS: Time segments into which television and radio broadcast days are divided (PR LAP 6)

DEADLINE: Date or time when something must be done (QS LAP 18)

DEALER INCENTIVE: A limited-time discount offered by a manufacturer to its intermediaries to prompt them to purchase and/or further promote the manufacturer’s products to customers (PR LAP 1)

DEALERSHIP: See product trade-name franchise (BL LAP 1)

DEBIT: An amount a business owes (FI LAP 343)

DEBT: Amount of money businesses or individuals owe to others (FI LAP 7, OP LAP 25)
Money businesses or individuals owe to others (EC LAP 71, QS LAP 49)

DEBT RATIO: A class of financial ratios that compares what a company owns to what it owes; also called safety or financial leverage ratios (QS LAP 43)

DECENTRALIZED MARKET: A financial market that exists over a series of electronic networks rather than in one physical location (EC LAP 30)

DECENTRALIZED TRAINING: Sales training that is conducted at field or regional offices (SE LAP 123)

DECIDED CUSTOMER: A type of customer who knows exactly what s/he wants (SE LAP 101)

DECISION: A choice among alternatives (EI LAP 91, PD LAP 17, QS LAP 2)

DECISION CRITERIA: The boundaries a decision maker sets for his/her decision (PD LAP 17, QS LAP 2)

DECISION-MAKING: Choosing among alternatives (EC LAP 6, NF LAP 110, PD LAP 17, QS LAP 2)

DECISION-MAKING MODEL: An organized way of making a decision (PD LAP 17, QS LAP 2)

DECISION-MAKING SKILL(S): The ability to choose among alternatives (CD LAP 2, PD LAP 66)

DECISION-MAKING STYLE: A method of decision-making having to do with the degree to which others are involved in the decision-making process (PD LAP 17, QS LAP 2)

DECISIVE PERSONALITY: A basic type of customer personality characterized by the customer's asking for specific items, having a businesslike nature, acting in a direct manner, knowing what s/he wants, and/or shopping quickly (SE LAP 112)

DECISION PROBLEM: The basic issue that managers are facing; the reason they believe marketing research is necessary (IM LAP 282)

DECLINE STAGE: The product life cycle stage in which sales decrease and profits begin to erode (PM LAP 24)
The product life cycle stage in which sales and profits fall rapidly (PI LAP 3)

DECLINING STAGE: The product life cycle stage in which sales and profits fall rapidly (PM LAP 17, PR LAP 1)

DECISION SUPPORT SYSTEM: A type of computer program that draws on gathered knowledge to help managers improve their decision-making and problem-solving skills (KM LAP 1)

DEDUCTION: A tax write-off that reduces the gross amount of an individual’s income, which in turn reduces the taxes owed (EC LAP 27, PD LAP 66)

DEEP LINKING: The act of landing on a page deep within a web site, rather than on the site's home page (BA LAP 5)

DEEP PRODUCT MIX: A description of the depth of a business's product mix offering significant variations of its products (PM LAP 3)

DEFAULT RISK: The possibility of loss due to an issuer’s failure to repay a bond (QS LAP 33)

DEFEATIST ATTITUDE: Outlook exhibited by people who have very low opinions of, and lack confidence in, themselves and others (HR LAP 9)

DEFECTIVE: Imperfect; faulty (OP LAP 8)
Not conforming to predetermined standards (QM LAP 1)

DEFENSIVE: Having a negative attitude toward criticism or suggestions (EI LAP 14, EI LAP 15, QS LAP 20)

DEFENSIVE STOCKS: Stocks whose performance is independent of the economy (QS LAP 34)

DEFICIT: A lack of funds, or an overspending of funds (QS LAP 40)

DEFLATION: A steady decline in the general price levels of consumer goods and services over a period of time; the opposition of inflation (EC LAP 28)

DELEGATING: Assigning your tasks and work to other people (EI LAP 77)

DELEGATION: Assigning tasks to subordinates (EC LAP 103)

DELICATE: Needs careful handling to prevent damage (SE LAP 105)

DELIVERABLE: The result a project is created to achieve (OP LAP 1, OP LAP 158)

DELIVERED CIRCULATION: A magazine circulation figure based on the number of copies sold on newsstands and through subscriptions (PR LAP 6)

DELIVERY: In sales promotion, how the customers receive their incentive (PR LAP 187)

DELIVERY RECEIPT: The carrier's form accompanying a shipment that is signed by the purchasing company to acknowledge receipt of the goods (DS LAP 5)

DELPHI TECHNIQUE: A qualitative sales forecasting method that gathers opinions from company executives and from outside experts such as university professors, consultants, or industry analysts (IM LAP 4)

DEMAND: The quantity of a good or service that buyers are ready to buy at a given price at a particular time (EC LAP 2, EC LAP 3, EC LAP 11, EC LAP 12, EC LAP 17, MK LAP 1)

DEMAND PRICE: The maximum price buyers are willing and able to pay for a product (EC LAP 12)

DEMAND-PULL INFLATION: A rapid rise in prices that occurs when aggregate demand exceeds supply (EC LAP 9)
Rising prices caused by an increase in the money supply; "too much cash chasing too few goods" (EC LAP 28)

DEMOCRATIC MANAGERS: Managers who like to exercise only a moderate degree of control over employees; tend to involve employees in decision making and problem solving (EI LAP 37)

DEMOCRATIC LEADERSHIP: A leadership style built around mutual respect between the leader and employees that allows workers to have a say in the operation of the organization (HR LAP 493)

DEMOGRAPHIC SEGMENTATION: The division of a market on the basis of its physical and social characteristics (MP LAP 3, PI LAP 47)

DEMOGRAPHICS: The physical and social characteristics of the population (CD LAP 2, EC LAP 105, EN LAP 38, IM LAP 184, IM LAP 282, IM LAP 284, MN LAP 43, MN LAP 55, MP LAP 7, NF LAP 15, PD LAP 126, PR LAP 3, PR LAP 5)
Information used to describe a population (EC LAP 14)

DEMONSTRATION: A sales promotion activity that shows a product in use (SE LAP 123)

DEMONSTRATION/PRACTICE: An instructional method of orientation in which a new employee watches as an experienced worker performs a task, and then the new employee repeats the task until it is perfected under the supervision of the experienced worker (MN LAP 44)

DENIAL: Refusal to accept the truth (EI LAP 75)

DENIAL-OF-SERVICE ATTACK: A flood of useless traffic on a business’s web site that prevents legitimate traffic from getting through (BA LAP 4)

DENY IT: Method of answering objections in which the salesperson tries to correct wrong information or a misunderstanding the customer may have about the product (SE LAP 874)

DEPARTMENTALIZATION: The way departments are defined and arranged (SM LAP 64)

DEPENDABILITY: Reliability; doing what you say you will do (EI LAP 9, EI LAP 41, EI LAP 121, EI LAP 128, QS LAP 7, QS LAP 8)

DEPENDENT: Needing or relying on someone or something (HR LAP 9)

DEPENDENT VARIABLE: A factor whose value is affected by another factor (IM LAP 284)

DEPRECIATE: To decrease in value (EC LAP 30)

DEPRECIATION: Reduction in value of goods or assets occurring over a period of time (DS LAP 3)
Reduction in value of assets occurring over a period of time (NF LAP 1)
Loss of value (FI LAP 10, OP LAP 9)
The loss of value due to market forces (FI LAP 77, QS LAP 32, QS LAP 38)

DEPRESSED ECONOMY: A long-lasting recession characterized by high rates of unemployment and business failures (QS LAP 40)

DEPRESSION: A severe, long-lasting recession characterized by high rates of unemployment and business failures (EC LAP 9)

DEPTH: The amount of control and decision making an employee has in a job (EC LAP 7)
A product-mix dimension referring to the assortment of sizes, colors, flavors, and models offered in a product line (PM LAP 3)
Extent, thoroughness (SE LAP 120)

DERIVATIVE PROJECT: A business endeavor that enhances, adds to, or extends an existing project (OP LAP 6)

DERIVATIVES: Securities that function as tools for trading underlying assets (QS LAP 49)

DESCRIPTIVE RESEARCH: Marketing research that gathers specific information related to the identified issue, situation, or concern (IM LAP 10, IM LAP 284)

DESCRIPTIVE STATISTICS: Numbers that are used to summarize and describe data (OP LAP 8)

DESCRIPTIVE WORDS: Words or phrases that seek to classify or describe (PM LAP 40)

DESIGN ELEMENTS: Artistic characteristics such as color, texture, and space (PM LAP 40)

DESIGN TEMPLATE: A document or file that has a preset look and layout (PR LAP 15)

DESIGNER(S): Individual who envisions a new product (or feature) and carefully specifies his/her vision for a manufacturer to implement (EC LAP 13)

DESTRUCTIVE CRITICISM: A type of negative feedback that provides evaluative information but is given in a manner that hurts the message receiver’s self-esteem (EI LAP 15, QS LAP 20)

DETAIL-LEVEL GOAL: A small, short-term goal (PD LAP 16)

DETECTIVE: A type of internal accounting control designed to find an error or fraud after it has occurred (FI LAP 343)

DETERMINANT FACTOR: An aspect of a product or brand that the target market really cares about; something that makes a big difference to a target customer (PM LAP 19)

DETERMINATION: Staying with something until it is finished; not giving up easily (EI LAP 240, PD LAP 126)

DEVELOPMENT: A systematic process for enabling employees to acquire the skills, knowledge, and attitudes that are needed now and in the future to attain organizational and personal goals (MN LAP 50)

DEVELOPMENT (human resource development): The process of a person's becoming of more value by combining education and experience; includes attitude, personality, motivation, self-confidence, etc. (MN LAP 42)

DEVIATION: Departing from an established course or accepted standard (EI LAP 92)

DICTATORSHIP: A form of government in which one person rules absolutely and makes decisions without asking anyone’s opinion (EI LAP 19)

DIFFERENTIATION: The act of distinguishing between or separating two or more things (PM LAP 6)

DIFFICULT CUSTOMERS: Customers with problems that interfere with their ability to communicate satisfactorily or to function in a normal or pleasant manner (CR LAP 9)

DIFFICULT PERSONALITY: A basic type of customer personality; these customers have problems that interfere with their ability to communicate satisfactorily or to function in a normal or pleasant manner; they may be excessively disagreeable, domineering or superior in manner, suspicious, slow or methodical, or simply dishonest (SE LAP 112)

DIGITAL CERTIFICATES: Electronic documents which verify that the sender of the message is not an imposter (BA LAP 4, PR LAP 15)

DIGITAL MARKETING: A career involving the use of the Internet, social media smartphones, and other technology to promote products and attract customers (Career Opps in Marketing)

DIGITAL MILLENNIUM COPYRIGHT ACT: A law that protects copyrighted materials in today's digital environment by making it illegal to crack technology designed to prevent piracy (BA LAP 5)

DIGITAL RECORD: A document preserved electronically (NF LAP 1)

DIGITAL SUBSCRIBER LINE: A high-speed method for transmitting data over copper telephone wires (PR LAP 14, PR LAP 15)

DIGNITY: A high degree of calmness and self-possession (EI LAP 14)
Treating others as if they are worthy of your respect and honor; a high degree of calmness and self-possession (EI LAP 36)

DILEMMA: A difficult situation in which you are required to make a decision (EI LAP 124, EI LAP 125)

DILIGENCE: Careful and persistent work or effort (FI LAP 355)

DIMENSION: Aspect; feature (SM LAP 4)

DIMINISHING RETURNS: A decrease in marginal product occurring as each additional input is added; occurs during stage two of production, when total product continues to increase, but at a decreasing rate (EC LAP 31)

DIRECT CHECK: A method of checking goods in which the goods received are checked directly against the purchase order or the invoice (DS LAP 5)

DIRECT CLOSE: The most simple and natural of all closing techniques; involves merely asking the customer to buy (SE LAP 895)

DIRECT COMPETITION: Rivalry between or among businesses that offer similar types of goods or services (EC LAP 8)

DIRECT DISTRIBUTION: A channel of distribution in which goods and services move directly from the producer to the consumer or industrial user (CM LAP 2, CM LAP 3)

DIRECT MAIL: Promotional medium that comes to customers’ homes and businesses in the form of letters, catalogs, postcards, faxes, folders and emails (PR LAP 1, PR LAP 3)

DIRECT-MAIL MARKETING: An effort to obtain business by sending promotional material to customers in the form of letters, catalogs, postcards, faxes, folders, and e-mails (SE LAP 115)

DIRECT MARKETING: A career in which marketers work to get a specific, measurable action from a targeted group of consumers, often by sending catalogs, postcards, faxes, folders, and emails directly to a consumer’s home or business (Career Opps in Marketing)
Forms of advertising that seek a specific, measurable action from a targeted group of consumers, using direct mail, telemarketing, emails, etc. that are sent directly to a consumer’s home or business (PR LAP 1)

DIRECT STOCK PURCHASE (DSP): A plan in which investors buy securities directly from the issuing company, bypassing commission fees (QS LAP 41, QS LAP 47)

DIRECT TRADING: In investing, trading among investors without the use of a licensed broker (QS LAP 47)

DIRECT QUOTATION: An expression of an exchange rate that lists the domestic currency first (as the base currency) (EC LAP 30)

DIRECTING: The management function of providing guidance to workers and work projects (SM LAP 3, SM LAP 4)

DIRECTORIES: Internet services that search for matches to specified terms in web-site descriptions written by humans (BA LAP 3, PR LAP 16)

DIRECTORY ADVERTISING: Promotional message found in directories of a general nature such as the Yellow Pages or in specialized listings of companies in an industry (PR LAP 3)

DISABILITY: A mental or physical condition that affects an individual's capabilities (EI LAP 36, EI LAP 139)

DISAGREEABLE CUSTOMERS: A type of difficult customer personality that is unpleasant and hard to help because they are argumentative, complaining, irritable or moody, insulting, impatient, and/or have a leave-me-alone attitude (SE LAP 112)
Customers who are unpleasant and hard to help (CR LAP 9)

DISCIPLINARY POLICY: A policy that outlines how employees will be punished for breaking company rules (PD LAP 250)

DISCLOSURE: The act of making something known or revealing the particulars; required in the notes to the financial statements (QS LAP 38)

DISCOUNT: A deduction from the price of goods (IM LAP 7, MP LAP 2, PU LAP 3)

DISCOUNT BONDS: Bonds available for purchase below par value (QS LAP 33)

DISCOUNT BROKER: A broker who executes basic trades without offering investment planning or advice; less expensive than a full-service broker (QS LAP 40, QS LAP 48)

DISCOUNT STORE: A retail store competing on the basis of low prices and offering limited customer service (PI LAP 2)

DISCOVERING CUSTOMER NEEDS: The phase of the selling process in which the salesperson determines what a customer needs/wants through the use of questioning and listening (SE LAP 48)

DISCOVERY-ORIENTED DECISION PROBLEM: A decision problem aimed at answering “what?” or “why?” (IM LAP 282)

DISCREPANCY: Disagreement between two records (FI LAP 343)

DISCRETIONARY: Remaining after taxes (QS LAP 40)

DISCRETIONARY INCOME: Money a person has to spend on wants after her/his needs are met (MK LAP 14)

DISCRETIONARY ITEM: A product that is wanted but not needed (EC LAP 105)

DISCRIMINATION: Unfair treatment of a person or a group based on the person's or group's characteristics (EI LAP 127, EI LAP 139)
Unfair treatment of a person or a group based on the person's or group's characteristics (e.g., race, religion, gender) (EI LAP 4, HR LAP 411, PD LAP 250)
Unfair treatment of a person or a group based on the person's or group's characteristics (e.g., race, religion, gender identity) (EI LAP 131, PD LAP 251)

DISCUSSION: A conversation among members of a group (QS LAP 29)

DISCUSSION GROUP: A number of individuals who use e-mail to share ideas, opinions, and resources (BA LAP 4, PM LAP 9, PR LAP 13, PR LAP 16)

DISHONEST CUSTOMERS: Customers who intentionally attempt to avoid paying part or all of the price for a product (CR LAP 9, SE LAP 112)

DISINTERMEDIATION: The elimination of intermediaries, or middlemen, that result in the transfer of products directly from the producer to the ultimate consumer (BA LAP 3)

DISPATCHING: Issuing orders for production to start (OP LAP 17)

DISPLAY CUBICLE: A fixture consisting of multiple cube-shaped compartments used to store and display folded apparel for customer self-selection (RM LAP 2)

DISPOSABLE INCOME: The amount of money people have to spend, or dispose of, after they have paid their taxes; also called discretionary income (EC LAP 16, IM LAP 3)

DISPROPORTIONATELY: Unsuitably, unreasonably, or inappropriately sized (EC LAP 18)

DISPROPORTIONATELY STRATIFIED SAMPLING: A type of stratified random sampling in which the sample size is independent of that stratum’s size relative to the entire population (IM LAP 285)

DISPUTE-RESOLUTION SERVICE PROVIDER: An agency that resolves issues involving the Internet (BA LAP 5)

DISSEMINATE: To spread widely (usually refers to information or knowledge) (KM LAP 1)

DISTRACTIONS: Things that interrupt us, causing us to turn our focus away from what we’re doing (QS LAP 24)

DISTRIBUTION: A marketing/business function that is responsible for moving, storing, locating, and/or transferring ownership of goods and services (BA LAP 3, IM LAP 9)
A business function that is responsible for moving, storing, locating, and/or transferring ownership of goods and services (MP LAP 7)
The process or activity by which income is divided among resource owners and producers (EC LAP 9, EC LAP 17)
The economic process or activity by which income is divided among resource owners and producers (EC LAP 6)
A career that involves performing the activities involved in moving or transferring the ownership of goods or services from producers to consumers (CD LAP 2)

DISTRIBUTION CHANNELS: Paths, or routes, that goods or services take from the producer to the ultimate consumer or industrial user (PU LAP 3)

DISTRIBUTION INTENSITY: The level of market exposure a certain distribution pattern achieves (refers to intensive, selective, and exclusive patterns) (CM LAP 2)

DISTRIBUTION METHOD: A technique for transferring e-mail messages from the business to the recipients (PR LAP 14)

DISTRIBUTION PROCESS: All the steps involved in the physical movement or the transfer of ownership of a good or service from the producer to the consumer (IM LAP 3)

DISTRIBUTIVE SHARE: Each business owner's portion of a business's profits and losses (EC LAP 27)

DISTRIBUTOR: A channel member who helps to sell a business’s products; usually a wholesaler (IM LAP 12, IM LAP 184)

DIVERSE: Different from each other, especially in terms of background, age, gender, and race (EI LAP 30)

DIVERSIFICATION: Spreading out your investment dollars among a number of different securities (QS LAP 35, QS LAP 45, QS LAP 46)

DIVERSITY: All the ways in which people differ (EI LAP 33, EI LAP 130, MN LAP 55)

DIVERT: To move or change from a particular direction or place to another (RM LAP 4)

DIVIDEND: A sum of money paid to an investor or stockholder as earnings on an investment (BL LAP 1, EC LAP 27, FI LAP 7, OP LAP 25, OP LAP 190)
A portion of a company's profits, paid to shareholders, usually quarterly (QS LAP 34, QS LAP 37, QS LAP 45)

DIVIDEND REINVESTMENT: Putting dividends back into an investment to purchase more shares (QS LAP 45)

DIVIDEND REINVESTMENT PLAN (DRIP): A plan in which investors' dividends are automatically reinvested into more shares of company stock, bypassing commission fees (QS LAP 41, QS LAP 45)

DIVISION OF LABOR: Dividing a large job into units, or job tasks, and assigning an individual to do each of the tasks (EC LAP 18, EC LAP 103)
Dividing a large job or large work force into smaller units to accomplish the job faster and easier; specialization by stage of production or task (EC LAP 7)
The process of dividing a large job into units, or job tasks, and assigning an individual to do each of the tasks (SM LAP 64)

DIVISIONAL STRUCTURE: An organizational design in which the firm is broken down into units according to factors such as product, process, territory, customer type, etc. (EC LAP 103, SM LAP 64)

DIVULGE: To reveal or make known to others (EI LAP 4)

DOCUMENTATION: The recording of information so that it can be used as evidence to back up a claim (FI LAP 343)

DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT: A federal law passed in 2010 that created the Consumer Financial Protection Bureau and enforces rules against unfair, deceptive, or abusive practices related to consumer financial products and services (PM LAP 7)

DOING BUSINESS AS: A term or permit that requires a business to register its name with local governments (BL LAP 6)

DOLLAR CONTROL: A way of keeping track of inventory according to the value of the stock.(DS LAP 2, DS LAP 4)

DOLLAR COST AVERAGING: Investing a predetermined amount of money on a regular basis (QS LAP 45)

DOLLAR-VOLUME DISCOUNTS: Rate reductions offered to advertisers for total dollar volume in a contract year (PR LAP 6)

DOLLAR-VOLUME QUOTAS: A type of sales-volume quota in which salespeople are measured by the total dollar volume of sales without regard to which products are sold (SE LAP 118)

DOMAIN NAME: A business's web address (e.g., cdwarehouse.com) (BA LAP 5, PM LAP 10)

DOMAIN NAME REGISTRATION: The process of registering a business’s web address (e.g., cdwarehouse.com) (PR LAP 15)

DOMESTIC: Pertaining to that occurring within a country (EC LAP 3)

DOMESTIC MARKET: Consumers and potential consumers who are within the borders of the United States (MN LAP 55)

DOMESTIC STOCKS: Stocks that are issued by companies in the country where you live (QS LAP 34)

DOMESTIC TRADE: The buying and selling of goods and services within a country (EC LAP 4)

DOMINANT BUYING MOTIVE: The reason for making a purchase that has the greatest influence on a customer’s buying decision (SE LAP 883)

DOMINEERING/SUPERIOR CUSTOMERS: Overly confident customers who feel they know more and are better than the average person (CR LAP 9, SE LAP 112)

DO-NOT-CALL REGISTRIES: Databases containing personal telephone numbers that, by law, telemarketers are not permitted to call (PR LAP 3)

DO-NOT-CALL IMPLEMENTATION ACT: A federal law passed in 2003 that set up the National Do-Not-Call Registry, allowing consumers to limit the number of telemarketing calls they receive (PM LAP 7)

DOUBLE COUNTING: Including the same production more than once in determining GDP (EC LAP 1)

DOUBLE OPT-IN E-MAIL: Electronic promotional messages that are sent once the recipient has requested and confirmed his/her desire to be added to the subscriber list (PR LAP 13)

DOWN PAYMENT: A partial payment made at the time an item is purchased; the remaining balance is paid later (FI LAP 2)

DOWNLOADED FILES: A collection of data transferred from a central computer to a peripheral computer (BA LAP 3)

DOWNSIZING: Reducing the size and payroll of a company by eliminating workers (EC LAP 29)

DREAM: A hope or longing for something (QS LAP 22)

DRESS CODE: A rule governing the type of clothing that employees are permitted to wear on the job (HR LAP 25)
A policy that outlines what is and isn’t appropriate to wear to work (PD LAP 250)

DUAL DISTRIBUTION: Distributing a product through two different channels (CM LAP 2)

DUAL/DOUBLE TAXATION: The levying of two taxes on the same income (e.g., tax on a corporation’s income as well as dividends) (BL LAP 1, BL LAP 6)

DUMMY INVOICE: A blank form on which the contents of a shipment are listed by receiving workers; used in the blind check method of checking goods (DS LAP 5)

DURABILITY: How long a product lasts before needing to be replaced or repaired (PM LAP 19)
How long a product will last (SE LAP 131)
The measure of how long a product lasts (QM LAP 1)

DURABLE GOODS: Tangible items that should last a long time (EC LAP 1, EC LAP 9, MK LAP 4)

DYNAMIC: Changing; changeable (able to be changed) (NF LAP 15, PD LAP 16)
Changing; changeable (SM LAP 4)
Changing (EC LAP 105)
Changeable (OP LAP 158)

DYNAMIC BUDGET: See flexible budget (FI LAP 99)

E

EARLY ADOPTER: A person who embraces new products (particularly technology products) before most others do (PM LAP 24)

EARNINGS: Profit or income; net earnings are the “bottom line” on an income statement, the results of sales minus all expenses (QS LAP 41)

EARNINGS PER SHARE (EPS): Financial ratio that tells you how much profit goes to each share of common stock; calculated by dividing net earnings by the number of outstanding shares of common stock (QS LAP 37, QS LAP 38, QS LAP 42, QS LAP 43, QS LAP 44, QS LAP 45, QS LAP 46)

EARNINGS PROJECTION: A prediction of how much income will be received during a specified time period (QS LAP 40)

EARNINGS STATEMENT: Another name for an income statement (FI LAP 4)

E-COMMERCE: The buying and selling of goods using computers (CM LAP 2, EC LAP 107)
The buying and selling of goods online (SE LAP 108)

E-COMMERCE PROVIDER: A company that provides e-commerce services across the Internet (PR LAP 15)

ECONOMIC ACTIVITIES: Consumption, production, exchange, and distribution (EC LAP 6, EC LAP 9)

ECONOMIC CHANGES: Fluctuations or "ups and downs" in the economy–such as changes in supply, demand, prices, and rate of employment (HR LAP 8)

ECONOMIC DEPRESSION: A prolonged downturn in economic activity (EC LAP 28)

ECONOMIC FLOW: The movement of resources from resource owners to producers and from producers to consumers (SE LAP 117)

ECONOMIC GOODS: Physical objects that are useful, scarce, and transferable and which satisfy economic wants (EC LAP 10)

ECONOMIC INDICATOR(S): Events that provide clues regarding the direction the economy is headed (QS LAP 40)
A statistic used to measure the health of the economy and sometimes to predict future trends (EC LAP 29)

ECONOMIC ORDER QUANTITY: The amount of stock that can be ordered at the greatest advantage to the business; known as EOQ (DS LAP 3)

ECONOMIC RESOURCES: The human and natural resources and capital goods used to produce goods and services (EC LAP 14, EC LAP 15, EC LAP 17)

ECONOMIC SERVICES: Productive acts that are useful, scarce, and transferable and which satisfy economic wants (EC LAP 10)

ECONOMIC SYSTEM: The organized way in which a country handles its economic decisions and solves its economic problems (EC LAP 15, EC LAP 17)

ECONOMIC VOTE: Term used to describe consumer approval of products expressed by the purchase of products (EC LAP 17)

ECONOMIC WANT: A desire for something that can only be obtained by spending money (EC LAP 10)

ECONOMIC WANTS: Desires for items that can only be obtained by spending money (EC LAP 6)

ECONOMICS: The study of how to meet unlimited, competing wants with limited resources (EC LAP 6)

ECONOMIES OF SCALE: The drop in cost-per-unit as a company produces a greater number of goods or services and becomes more efficient (PM LAP 24)
Cost savings created by increased levels of production (OP LAP 9)

ECONOMIZING: The process of deciding which goods and services will be purchased or provided so that the most satisfaction can be obtained; deciding how scarce resources will be used (EC LAP 6)

ECONOMY: The system in which people make and spend their incomes (EC LAP 1, EC LAP 2, EC LAP 105, EC LAP 29, MK LAP 4, NF LAP 15, SE LAP 117)

EDGAR: Stands for Electronic Data Gathering and Retrieval; section of the SEC web site in which all of the mandatory filings are housed (QS LAP 36, QS LAP 39)

EDITORIAL CONTENT: The subject matter of a publication (PR LAP 9)

EDITORIAL ENVIRONMENT: The type of information, or content, the different media present in order to attract an audience (PR LAP 5)

EFFECTIVE: Able to achieve a desired result (HR LAP 4)

EFFECTIVE GOAL: A goal that takes priority over other activities; a goal that is (likely to be) achieved (QS LAP 22)

EFFECTIVE HUMAN RELATIONS: Harmonious, pleasant, mutually rewarding interactions with other people (HR LAP 1)

EFFICIENCY: Accomplishing a task with a minimum expenditure of time and effort (EC LAP 2, EC LAP 18, FI LAP 11, MK LAP 15, MK LAP 19, OP LAP 190, PD LAP 252)

EFFICIENT: Using minimum amounts of resources to the best advantage (EC LAP 8)
Able to accomplish a task using a minimum amount of time and effort (CR LAP 4, HR LAP 4)

80/20 RULE: A selling principle which states that 80% of a business’s sales are made by 20% of the business’s customers (PR LAP 13)

ELASTIC DEMAND: A form of demand for products in which changes in price correspond to changes in demand (EC LAP 11, PI LAP 3)
A market situation in which small price changes have a big impact on product sales (PI LAP 47)

ELASTICITY: An indication of how changes in price will affect changes in the amounts demanded and supplied (EC LAP 11)

ELECTRIC SHOCK: Injury caused by contact with electric current (RM LAP 3)

ELECTRONIC COMMERCE: The buying and selling of goods and services over the Internet (BA LAP 3)

ELECTRONIC COMMUNICATION NETWORK (ECN): In investing, an electronic system for matching buy orders and sell orders (QS LAP 47)

ELECTRONIC, DIRECT MAIL: Promotional messages that are delivered over computer networks to email addresses (PR LAP 3)

ELECTRONIC IMAGING SOFTWARE: A computer application that works with optical scanning hardware to scan paper documents and convert them to digital form (NF LAP 1)

ELECTRONIC PRICE-TAG ALTERATION: The process of hacking into a business’s shopping-cart software and modifying the HTML information in order to lower or raise the prices of products (BA LAP 4)

ELECTRONIC SIGNATURE: The electronic equivalent of a written signature (BA LAP 5)

ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT: A law designed to give business transactions conducted over the Internet the same legal standing as signed contracts (BA LAP 5)

ELEMENT: A part of a print advertisement, such as the headline, illustration, copy, or identification (PR LAP 7)

EMAIL: The electronic transmission of messages across computer networks (BA LAP 3)

EMAIL ALIASES: Alternate names for the same email account (e.g., webmaster@infotech.com and technical assistance@infotech.com) (PR LAP 13)

EMAIL AUTOMATION PROGRAM: Computer software that does not require a human to operate or control the task at hand (PR LAP 13)

EMAIL CLIENTS: Applications on computers that allow them to create, send, receive, and store email messages (PR LAP 13, PR LAP 14, PR LAP 15)

EMAIL FILTERS: Computer programs that block out unwanted information (e.g., junk email) (BA LAP 4)

EMAIL MARKETING: The electronic transmission of promotional messages across computer networks (PR LAP 13)

EMAIL RECIPIENTS: The individuals who receive the email (PR LAP 14)

EMBARRASS: Make others feel uncomfortable, ashamed, or ill at ease (QS LAP 4)

EMBEZZLEMENT: Theft of valuables that have been entrusted to one's care (RM LAP 4)

EMOTIONAL BUYING REASON: A customer’s motivation for purchasing a product that is based on feelings (SE LAP 114)

EMOTIONAL CONFLICT: A disagreement that is based on differences regarding personal beliefs, values, or experiences (EI LAP 7)

EMOTIONAL INTELLIGENCE: The ability to recognize and manage emotions in ourselves and in others (EI LAP 1, EI LAP 16, EI LAP 131, QS LAP 14, QS LAP 27)

EMOTIONAL MOTIVES: Reasons for buying that involve an appeal to the customer's emotions or feelings (MK LAP 19, SE LAP 883)

EMOTIONAL TRAITS: Personal characteristics that involve your attitudes, feelings, values, and temperament (EI LAP 9)

EMPATHETIC: Acting according to an intellectual identification with the thoughts, feelings, values, attitudes, and/or actions of another person (SE LAP 883)
Having the ability to understand and share the feelings of other people (EI LAP 136)

EMPATHIZE: Putting yourself in another person's place (CO LAP 17)

EMPATHY: The ability to relate to the feelings, thoughts, and experiences of other people (EI LAP 9, EI LAP 16, EI LAP 127, EI LAP 128, EI LAP 129, EI LAP 139, EI LAP 240, QS LAP 27)
The ability to put yourself in another person’s place; the ability to relate to the feelings, thoughts, and experiences of other people (EI LAP 1, EI LAP 30)
The ability to put yourself in another person's place; intellectual identification with the thoughts, feelings, values, attitudes, and/or actions of other people (EI LAP 14, EI LAP 36, QS LAP 14)
The ability to put yourself in another person's place (EI LAP 23)
The ability to put yourself in another person’s shoes (QM LAP 1)

EMPLOYEE-ASSISTANCE PROGRAM: A project organized and sponsored by a company to help its employees (EC LAP 14, HR LAP 35)

EMPLOYEE COMPLAINT: An oral or written expression of an employee's dissatisfaction (HR LAP 35, MN LAP 45)

EMPLOYEE MORALE: The attitude employees have toward their jobs and the business for which they work (MN LAP 40)

EMPLOYEE POLICY: A guideline explaining how employees are to act and how they are to deal with customers (HR LAP 25)

EMPLOYEE SAFETY: Freedom from danger, risk, or injury in the workplace (HR LAP 35)

EMPLOYEE STOCK OWNERSHIP PLAN (ESOP): A system for employees to purchase stock of the company they work for (QS LAP 38)

EMPLOYEE TURNOVER: The rate at which a business gains and loses employees (EC LAP 106, EI LAP 25)

EMPLOYMENT COST INDEX (ECI): A quarterly report that measures the costs of compensating employees (EC LAP 28)

EMPOWERMENT: Taking (or receiving) the right to make decisions and assume control over something (e.g., your own life and future) (EI LAP 75)

EMULATE: To copy or model oneself after (MK LAP 14)

ENCOURAGEMENT: The act of giving someone support, confidence, or hope (EI LAP 133)

ENCRYPTION: The process of transforming information into a secret code so that only the recipient can read it (BA LAP 4)

END-OF-MONTH (EOM) DATING: A dating term specifying the beginning of the payment period as the last day of the month in which the invoice is dated (PU LAP 3)

ENDING CASH BALANCE: The amount of cash a business has left at the end of the month (FI LAP 91)

ENDLESS-CHAIN METHOD: A method of prospecting in which salespersons ask every prospect to whom s/he makes a presentation to give the names of others who might be interested in their product(s) (SE LAP 116)

ENDORPHINS: Hormones that have a number of physiological functions, including reducing stress (EI LAP 25)

ENDORSEMENT: Approval by a reputable external source (PM LAP 19, PM LAP 139, PM LAP 140, PR LAP 7, PR LAP 8, PR LAP 9)

ENDOWMENT FUND: An institutional investment fund from which regular withdrawals are made to support ongoing operations (EC LAP 30)
An investment fund in which donated assets are pooled together to create additional wealth for a non-profit institution (FI LAP 77)

ENTERPRISE RESOURCE PLANNING (ERP): Software applications using database technology that enables a business to manage its information about customers, products, employees, and finances (IM LAP 2)

ENTERTAIN: To amuse or inspire an audience; a purpose of oral presentation (CO LAP 25)

ENTHUSIASM: Intense interest or excitement (EI LAP 9, EI LAP 41, HR LAP 20, PD LAP 15, QS LAP 7)
Interest or excitement (SE LAP 131)

ENTHUSIASTIC: Displaying great interest or excitement in something; being absorbed in or excited about something or someone (HR LAP 11)

ENTREPRENEUR: An individual who invents, develops, and distributes a good or provides a service; assumes the risks of starting and building a business; and receives personal and financial rewards for her/his efforts (EC LAP 15, EI LAP 27)
An individual who identifies an opportunity to create new value, develops and offers a unique product, assumes the risks of starting and building a business, focuses on the improvement and growth of that business, and receives personal and financial rewards for her/his efforts (PD LAP 66)

ENTREPRENEURS: People who assume the risks of starting and operating businesses (EC LAP 14, SE LAP 117)

ENTREPRENEURSHIP: Starting and building a business (EC LAP 14, FI LAP 77)

ENVIRONMENT: Surroundings (NF LAP 15)

ENVIRONMENTAL ANALYSIS: The study of the external forces that influence a business's success (MN LAP 43)

ENVIRONMENTAL DISTRACTION: An aspect of the setting that diverts the listener’s attention away from the speaker’s message; examples include poor lighting, noise, uncomfortable seating, etc. (CO LAP 17)

ENVIRONMENTAL PROTECTION AGENCY (EPA): A federal organization monitoring the care of the nation’s natural surroundings (QS LAP 40)

ENVIRONMENTAL SCAN: A three-step process in which businesses gather information about their surroundings, analyze that information, and determine the future impact of that information (SM LAP 75)

ENVIRONMENTAL SCANNING: Collecting information about the environment surrounding your business (EC LAP 105, MP LAP 10, NF LAP 15)

EQUAL CREDIT OPPORTUNITY ACT: A federal law that attempts to make the granting of credit fair by prohibiting the denial of credit based on the applicant's race, color, religion, national origin, sex, marital status, age, or public assistance status (FI LAP 1, FI LAP 2, PP LAP 7)

EQUAL EMPLOYMENT OPPORTUNITY COMMISSION (EEOC): A government agency established by the Civil Rights Act of 1964 to enforce fair employment practices (MN LAP 55)

EQUAL OPPORTUNITY: Providing the same opportunities for employment to all applicants (MN LAP 55)

EQUAL PAY ACT OF 1963: A law that prohibits wage discrimination on the basis of gender (MN LAP 55)

EQUALITY: Treating everyone consistently regardless of individual characteristics, traits, and circumstances (EI LAP 127)

EQUILIBRIUM: The point at which the quantity supplied is equal to the quantity demanded (EC LAP 11)

EQUILIBRIUM PRICE: The point at which the quantity of a good that buyers want to buy is equal to the quantity that sellers are willing to sell at a certain price (EC LAP 11)
The point at which the quantity of a product that buyers want to buy is equal to the quantity that sellers are willing to sell at a certain price; equal to both the demand price and the supply price (EC LAP 12)

EQUIPMENT: Industrial goods used in the operation of a business but not used in the actual production of a good or service (EC LAP 10)

EQUITABLE WORK ENVIRONMENT: A work environment in which all employees are treated fairly (MN LAP 55)

EQUITY: Assets minus liabilities; also known as stockholders’ (or shareholders’) equity, book value, and net worth (EC LAP 71, FI LAP 7, QS LAP 38, QS LAP 44, SM LAP 7)
Fairness (MN LAP 55)

EQUITY INVESTMENT: An ownership investment, such as a stock (QS LAP 45)

EQUITY THEORY: A process theory of motivation that suggests that people are motivated to close the gap between their efforts and the amount of reward they received (MN LAP 47)

ESTABLISHING RELATIONSHIPS: The phase of the selling process which involves making initial contact with customers to create the right selling environment (SE LAP 48)

ESTEEM NEEDS: Desires for self-esteem and recognition from others; fourth level of needs in Maslow's Hierarchy of Needs (MN LAP 47)
Needs such as respect from others, feelings of prestige, and accomplishment (EI LAP 59)

ESTIMATE: An approximation of data; an educated guess (IM LAP 12)

ESTIMATION: An approximation of data; an educated guess (OP LAP 531)

E-TAILERS: Retailers who operate solely online (EC LAP 70, PM LAP 1)

ETHICAL BEHAVIOR: Actions that are consistent with values, both your own and those of society (EI LAP 132, OP LAP 675)

ETHICAL CONFLICT: A complex situation in which it is difficult to discern the right choice (OP LAP 190)

ETHICAL DILEMMA(S): An issue in which you must decide whether something is right or wrong; sometimes referred to as an ethical situation (EI LAP 124, EI LAP 125)
Issues that require you to decide whether something is right or wrong (EI LAP 131)

ETHICAL LEADERSHIP: Directing and guiding others in a way that upholds ethical principles (EI LAP 131, EI LAP 132)

ETHICAL PRINCIPLES: Standards that govern behavior; not dependent on circumstance (EC LAP 106, EI LAP 123, EI LAP 124, EI LAP 125, EI LAP 128, EI LAP 129, EI LAP 132)
Standards that govern behavior (FI LAP 355)

ETHICAL STANDARDS: Unwritten rules that govern your behavior (SE LAP 117)

ETHICAL SITUATION: An issue in which you must decide whether something is right or wrong (EI LAP 123)

ETHICS: The basic principles that govern your behavior (EC LAP 106, EI LAP 4, EI LAP 16, EI LAP 21, EI LAP 123, EI LAP 124, EI LAP 126, EI LAP 131, EI LAP 132, EI LAP 137, EI LAP 138, FI LAP 355, HR LAP 19, MN LAP 44, OP LAP 190, OP LAP 675, PD LAP 251, QS LAP 8, RM LAP 41, SE LAP 117, SE LAP 129)
The basic principles that govern behavior (FI LAP 351, IM LAP 25, KM LAP 2)
The basic principles that govern an individual’s behavior (HR LAP 411)
The basic principles of right and wrong that govern behavior (PD LAP 251)

ETHNICITY: The background handed down to individuals from the ethnic group, or culture, with which they identify (EI LAP 36, IM LAP 9)

ETHNOCENTRISM: The belief that your own culture is naturally better than other cultures (EC LAP 45, EI LAP 33)

ETIQUETTE: Rules applying to acceptable behavior (CR LAP 1)

EUROPEAN UNION (EU): An association of European countries with uniform trade rules that eliminated all barriers and restrictions on the movement of goods and services among member nations (EC LAP 4)

EVALUATE: Examine or review carefully to determine value or importance (EI LAP 4, QS LAP 18)

EVALUATING PROJECT SUCCESS: The process of assessing the accomplishments of a project and reflecting on lessons learned (OP LAP 521)

EVALUATIVE INFORMATION: The conclusions people reach after they examine something carefully (EI LAP 15, QS LAP 20)

EVEN PRICING: The use of an even number at the end of a price to suggest high quality (PI LAP 1)

EVENT: A gathering or activity (PR LAP 136)

EVENT MARKETING: The process of planning and executing the conception and promotion of gatherings or activities that satisfy individual and organizational objectives (PD LAP 51)

EXAGGERATE: Overstate, or stretch, the truth (QS LAP 10)

EXCELLENCE: Usefulness and good performance (in products) (QM LAP 1)

EXCELSIOR: Shredded or curled pieces of wood used as cushioning material in packing (SE LAP 105)

EXCESS DEMAND: The situation that exists when demand is greater than supply (EC LAP 12)

EXCESS SUPPLY: The situation that exists when supply is greater than demand (EC LAP 12)

EXCHANGE: The process of trading one good/service for another (EC LAP 7, EC LAP 9)
The economic process of trading one good/service for another (EC LAP 6)

EXCHANGE PRICE: The amount of money that the buyer is willing to pay and the seller is willing to accept for a good or service (PI LAP 2)

EXCHANGE RATE: The price or value at which one currency can be converted to another (SM LAP 75)
The rate at which one currency can be sold for another, or the measure of one currency’s value in terms of another (EC LAP 30)

EXCHANGE-RATE QUOTATION: An expression of the exchange rate between two currencies (EC LAP 30)

EXCHANGE-TRADED FUND: A security that represents a "basket" of stocks like a mutual fund, but trades like an individual stock (QS LAP 35)

EXCISE TAX: An indirect tax charged on specific goods, such as gasoline and alcohol (EC LAP 27)

EXCLUSIVE AGREEMENT: An illegal agreement that forbids customers from buying goods and services from competitors (EC LAP 8, SE LAP 129)

EXCLUSIVE CATEGORY: In licensing, a category in which only one licensee is authorized to produce merchandise (PM LAP 14)

EXCLUSIVE DISTRIBUTION: A distribution pattern in which a producer sells a product through just one middleman in a geographic area (CM LAP 2)

EXCLUSIVE DISTRIBUTORSHIP: See product trade-name franchise (BL LAP 1)

EXCLUSIVE SPONSORSHIP RIGHTS: A contract agreement whereby a sponsoring business will be the only provider of the good or service for a sport/event (PR LAP 175)

EXCLUSIVITY: In a sponsorship agreement, the sponsor's privilege of being the only company in its particular category of goods or services (SE LAP 321)
A right purchased by a sponsor to be the sole provider of a particular type of good or service for a sport/event (BL LAP 58)

EXCUSE: An insincere and invalid statement used to cover up the real reason why the customer is not buying (SE LAP 874)

EXECUTIVE MANAGEMENT: Top-level management (SM LAP 3)

EXECUTIVE SUMMARY: The most important part of a company’s business or marketing plan because it gives an overview of the entire document; often used to determine whether it is worthwhile to read any further (MP LAP 7)
The most important part of a company’s business plan because it gives an overview of the entire document; used to determine whether it is worthwhile to read any further (SM LAP 7, SM LAP 13)

EXECUTIVES: Top-level employees (EC LAP 71)

EXISTING PRODUCT: Goods or services that are currently being sold (PM LAP 17)

EXIT INTERVIEW: Discussions with employees who are leaving that are designed to gain feedback for the business (HR LAP 35)

EXPANSION: The stage of the business cycle characterized by increased spending and borrowing, increased demand for goods and services, increased employment rates, and decreased interest rates on loans (EC LAP 9)
A product-mix strategy in which a business expands its product mix by adding additional product items or product lines (PM LAP 3)
A form of business growth in which a company extends its operations or facilities using new capital or reinvested funds (BL LAP 1)

EXPECTANCY THEORY: A process theory of motivation which states that motivation is the result of the outcomes one desires and one's estimate of the prospect of attaining those desired outcomes (MN LAP 47)

EXPECTATION: What you anticipate will happen based on your familiarity or past experience (MK LAP 14)

EXPENDITURES: The monies that a business spends; also called expenses (EC LAP 27, FI LAP 85)

EXPENSE(S): The monies that a business spends; also called expenditures (FI LAP 85, IM LAP 7, OP LAP 190, QS LAP 19)
The money that a business spends (EC LAP 2, EC LAP 71, FI LAP 4, FI LAP 99, FI LAP 106, MP LAP 2)
The money that a business or project spends (OP LAP 25)

EXPENSE RATIO: A computation reflecting a combination of a mutual fund's management fee and its 12b-1 fee (QS LAP 44)

EXPENSE ACCOUNT: An arrangement between an employee and the employer in which the employee keeps track of business-related expenses and reports them to the employer for reimbursement (HR LAP 19)

EXPENSE/BUDGET QUOTAS: A type of financial quota in which salespeople are awarded bonuses for spending less than the allocated budget (SE LAP 118)

EXPENSE CONTROL: Efforts to maintain or reduce a certain level of spending (OP LAP 25)

EXPERIMENT: A data-collection method that tests cause and effect; typically involves test marketing new products or comparing test groups with control groups (IM LAP 17)
A marketing-research method that tests cause and effect by test marketing new products or comparing test groups with control groups (IM LAP 10, IM LAP 284)

EXPERT POWER: The ability of an individual with high expertise in a certain area to influence the behavior of others (EI LAP 135)

EXPERT SYSTEM: Computer software designed to mimic the knowledge of a human expert (NF LAP 4)
A computer program that captures the knowledge of specialists and experienced decision makers from both within and outside of an organization (KM LAP 1)

EXPERTISE: In-depth knowledge or understanding of a particular topic (EI LAP 135)

EXPLICIT KNOWLEDGE: Knowledge that can be easily communicated to others or readily captured and stored in some type of document or database (KM LAP 1, KM LAP 2)

EXPLOIT THE SPONSORSHIP: To productively utilize every promotional avenue available to gain brand recognition in association with a sponsored entity (PR LAP 175)

EXPLORATORY RESEARCH: Marketing research that collects information to help the business define its issue, situation, or concern and decide how to proceed with its research (IM LAP 10)
Marketing research that collects information to help the business define its issue, situation, or concern and decide which direction to go in order to address it (IM LAP 284)

EXPORTING: The process of selling goods and services to individuals, businesses, or governments in other countries (EC LAP 4, EC LAP 104)

EXPORTS: Goods and services sold by businesses and industries in one country to individuals, manufacturers, or governments in other countries (EC LAP 4, EC LAP 27, EC LAP 28, EC LAP 30)

EXPRESS WARRANTY: A warranty that is written or expressed verbally (PM LAP 4)

EXTENSION: The total cost of each quantity of merchandise purchased. Calculated by multiplying the quantity purchased by the price per unit (DS LAP 6)

EXTENSIVE DECISION: A type of decision that requires a lot of consideration (EI LAP 91, PD LAP 17, QS LAP 2)

EXTENSIVE MEDIA COVERAGE: An advertising strategy based on reaching a large audience (PR LAP 5)

EXTERNAL CONFLICT: A disagreement with another person or with a group of people (EI LAP 7)

EXTERNAL CUSTOMERS: Individuals who buy a business’s products (PM LAP 1)

EXTERNAL DATA: Facts and figures available in locations outside the company (IM LAP 2, IM LAP 10)
Secondary information that already exists outside an organization (IM LAP 281)

EXTERNAL ENVIRONMENT: A business’s external, uncontrollable surroundings; consists of elements such as demographics, society and culture, the economy, competition, government, and technology (NF LAP 15)
Forces operating outside a business that affect its chances for success (EC LAP 105)

EXTERNAL FACTOR(S): Forces operating outside a business that affect its chances for success (MN LAP 43)
A force operating in the business environment that is outside of an individual business’s control (SE LAP 932)

EXTERNAL FAILURE COSTS: The costs associated with defective products reaching customers (QM LAP 1)

EXTERNAL FEEDBACK: Evaluative information that comes from sources outside you (EI LAP 15, QS LAP 20)

EXTERNAL INFORMATION: Facts that come from sources outside the business (e.g., government, media) (MP LAP 5)
Facts that come from sources outside the business (IM LAP 25)

EXTERNAL RISKS: Financial risks that a business cannot control, such as inflation and interest rate fluctuations (EC LAP 3)

EXTERNAL SOURCES: Contacts outside the business, such as other salespeople, specialized lists and directors, and industry trade groups (SE LAP 115)
Contacts outside the school, organization, or club (QS LAP 19)
Sources outside your organization (OP LAP 531)

EXTERNAL TRAINING: Training conducted by persons or organizations outside the business, such as professional consultants on a contractual basis, educational agencies, or trade and professional organizations (MN LAP 42)

EXTERNALITY: A business liability that is difficult to quantify (OP LAP 190)

EXTINCTION: The act of withholding reinforcement in order to change a behavior (EI LAP 14, MN LAP 47)

EXTRA DATING: A dating term that allows additional days in which to receive the cash discount (PU LAP 3)

EXTRAVERT: A person who draws energy from outside himself/herself; tends to enjoy interacting with others and is generally outgoing, talkative, and enthusiastic (EI LAP 126)

EXTRINSIC MOTIVATION: Motivation that comes from outside an individual and his/her work or task (EI LAP 59, EI LAP 133)

EYE CONTACT: Looking others directly in the eye (CO LAP 25, HR LAP 20)

E-ZINE ADS: Promotional messages appearing in electronic versions of magazines (PR LAP 16)

F

FACE VALUE (OR PAR VALUE): The original bond amount that is to be repaid at maturity (QS LAP 33)

FACIAL EXPRESSION: The look of the face that shows thoughts or feelings (HR LAP 20, QS LAP 4)

FACILITATOR: A person who guides a group’s discussions and helps it adhere to its agenda (EI LAP 19)

FACT: A true statement (IM LAP 12, QS LAP 29)

FACT-FINDER PERSONALITY: A basic type of customer personality characterized by the customer's challenging a salesperson to know the products, doing comparison shopping, liking to see variety, and/or wanting factual information (SE LAP 112)

FACT SHEET: A list of basic information about a person, place, or thing (PR LAP 8, PR LAP 10)

FACTORS OF PRODUCTION: Productive resources; human and natural resources and capital goods (EC LAP 14, OP LAP 17)

FACTORY-APPROVED SERVICE CENTER: Businesses that have been selected by a manufacturer or seller to repair and/or replace products covered by certain warranties (PM LAP 4)

FADS: Clothing and styles that are popular for a limited period of time (PD LAP 2)

FAIR CREDIT BILLING ACT: A federal law that specifies the time period in which a business must handle a credit customer's complaint or inquiry about his/her bill (FI LAP 2)

FAIR CREDIT REPORTING ACT: A federal law that gives consumers the right to inspect the files of their credit history at any credit agency and to have mistakes corrected (FI LAP 1)
A federal law which gives consumers the right to inspect the files of their credit history at any credit agency and to have mistakes corrected (FI LAP 2)

FAIR DEBT COLLECTION ACT: A federal law passed in 1980 prohibiting businesses from harassing or abusing consumers who owe them money (PP LAP 7)

FAIR INFORMATION PRACTICE PRINCIPLES (FIPP): A set of guidelines published by the Federal Trade Commission meant to establish ethical practices for handling information in the electronic marketplace (CR LAP 17)

FAIR MARKET VALUE: A company’s worth according to the marketplace (FI LAP 10)

THE FAIR PACKAGING AND LABELING ACT: A federal law that makes it illegal to use unfair or deceptive packaging or labeling for certain consumer products (PP LAP 7)
A federal law passed in 1967 requiring specific information about products and producers to be provided on a product's package or label (PM LAP 7)
A 1966 law that tightened requirements for package labels and mandated that all labels offer adequate information concerning the package’s contents (PM LAP 40)

FAIRNESS: The ability to make judgments and act without favoritism or self-interest (BL LAP 163, EI LAP 77, EI LAP 127)
The ability to make judgments without favoritism or self-interest (EI LAP 131, FI LAP 351, RM LAP 41)
The ability to make judgments without favoritism or self-interest; generally following established rules or standards (EI LAP 21, EI LAP 92, EI LAP 126)
The ability to make judgments without favoritism or self-interest; engaging in fair competition and creating equal relationships (EI LAP 4, EI LAP 45, EI LAP 123, EI LAP 124, EI LAP 125, EI LAP 128, EI LAP 132, EI LAP 139, FI LAP 355, KM LAP 2, OP LAP 675)

FALLBACK PLAN: Guidelines explaining what to do and how to recover if a contingency plan fails (SM LAP 75)

FALSE GENERALIZATION: A broad assumption made with very little supporting evidence (EI LAP 17)

FALSE GENERALIZE: To make a broad assumption with very little supporting evidence (QS LAP 16)

FAMILY BRAND: A category of brands in which one brand is used for a group of related products in a product line (PM LAP 6)

FAMILY AND MEDICAL LEAVE ACT: A law that gives workers with various kinds of family-related or medical problems as much as 12 weeks of unpaid leave per year (MN LAP 55)

FANS: Individuals or groups who express a common interest in a specific performer, athlete, team, or organization (PR LAP 136)

FAQS: Frequently Asked Questions; used by businesses to answer questions on their websites or other marketing materials (CR LAP 1)

FASHION GOODS: Apparel and accessory items (IM LAP 3)

FATIGUE: A state of mental or physical tiredness; weariness (EI LAP 25, RM LAP 2)

FDIC (FEDERAL DEPOSIT INSURANCE CORPORATION): A government agency created to ensure the stability of the U.S. banking system (FI LAP 77)

FEASIBLE: Reasonable; achievable (OP LAP 158)

FEASIBILITY STUDY: An organized inquiry into the possible success of a business idea or venture (EN LAP 38)

FEATURE: A fact about or characteristic of a product (IM LAP 7, IM LAP 9, MK LAP 4, PM LAP 19, SE LAP 113, SE LAP 114, SE LAP 117, SE LAP 131)
A fact or characteristic of the product (MP LAP 2, MP LAP 7, SE LAP 108, SE LAP 374, SE LAP 883)

FEATURES: Facts or characteristics of a product (SE LAP 48)

FEATURE ARTICLE: An article that goes into a specific subject at length or in depth (PR LAP 8)

FEATURE-BENEFIT CHART: A list that may be arranged alphabetically to show product features and corresponding benefits (SE LAP 113)

FEATURE-BENEFIT SELLING: Convincing customers that a product has the features which will provide the benefits for which they are looking (SE LAP 113)

FEDERAL COMMUNICATIONS COMMISSION (FCC): A government agency that regulates interstate and international communications by radio, television, wire, satellite, and cable (EC LAP 16)

FEDERAL FOOD, DRUG, AND COSMETIC ACT: A federal law passed in 1938 to expand the authority of the Food and Drug Administration to include cosmetics and medical devices (PP LAP 7)
A federal law passed in 1938 that bans the production, transportation, and sale of misbranded or adulterated foods, drugs, cosmetics and medical devices (PM LAP 7)

FEDERAL INSURANCE CONTRIBUTIONS ACT (FICA): Legislation authorizing a U.S. payroll tax paid into equally by employees and employers to fund federal programs for retirees, the disabled, and children of deceased workers (EC LAP 27)

FEDERAL LAW: Laws created by the national government (BL LAP 163)

FEDERAL RESERVE SYSTEM: The central banking organization of the United States that monitors and regulates the flow of credit and money (EC LAP 1, EC LAP 9, FI LAP 1)

FEDERAL TRADE COMMISSION (FTC): A government regulatory agency that administers and enforces antitrust laws to prevent price fixing and to prohibit unfair competitive practices (BA LAP 5, EC LAP 16, FI LAP 1, PM LAP 140, PP LAP 7)
The regulatory agency established by the federal government and given the authority to enforce consumer-protection laws; agency with the most influence on marketing activities (PM LAP 7)
The federal agency that administers and enforces customer-protection laws (e.g., antitrust laws, unfair competitive practices) (CR LAP 17)

FEDERAL TRADE COMMISSION ACT: A federal regulation that established a regulatory agency, the Federal Trade Commission (FTC), to monitor business activities in order to prevent unfair competition (EC LAP 8, PP LAP 7)
A federal law passed in 1914 that established the Federal Trade Commission (PM LAP 7)

FEDERATION: The highest level of union organization consisting of a group of national unions (EC LAP 5)

FEEDBACK: Evaluative information given to you about the things you say and do (EI LAP 1, EI LAP 27, HR LAP 2, EI LAP 15, EI LAP 17, EI LAP 41, HR LAP 25, QS LAP 7, QS LAP 18)
Evaluative information given to you about the things you say and do; a response to a certain behavior or attitude (EI LAP 30)
A response to a certain behavior or attitude (QS LAP 20)

FEEDBACK SANDWICH METHOD: A method of giving constructive criticism that “sandwiches” criticism in between positive comments (EI LAP 133)

“FEMININE” CULTURE: A culture that values “feminine” qualities, such as caring, quality of life, etc. (EC LAP 45)

FIDELITY BOND: Insurance coverage to protect a business from losses due to employee theft (EC LAP 3)

FILE SERVER: A computer/storage device that stores network users’ digital files (NF LAP 1)

FILL OR KILL: In investing, an order restriction that lets a broker know to cancel an order if it cannot be executed immediately (QS LAP 47)

FILTERS: Computer programs that block out unwanted information (e.g., junk e-mails) (PR LAP 13)

FINAL CONSUMER: An individual who purchases goods and services for his/her own personal use (MK LAP 14)

FINANCE: The process of obtaining funds and using them to achieve the goals of the business (PD LAP 15, SM LAP 7)
In business, the function that involves all money and money management matters (Career Opps in Finance, FI LAP 7)
The process of obtaining funds and using them to achieve the goals of the business; in business, the function that involves all money and money management matters (FI LAP 355)

FINANCE CHARGE: Interest charged on the outstanding balance of a credit account (FI LAP 1, FI LAP 2)

FINANCIAL ACCOUNTING: A type of accounting that involves preparing and reporting financial data to external users who are not directly involved in business operations (FI LAP 85, FI LAP 351)
A type of accounting that involves preparing financial data and reporting it to external users who are not directly involved in business operations (PD LAP 251)

FINANCIAL ANALYSIS: The process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources (EC LAP 71)

FINANCIAL ANALYST: A person who evaluates companies and industries and makes recommendations to buy, sell, or hold certain securities; also known as a securities analyst or an investment analyst (QS LAP 51)

FINANCIAL CAPITAL: Money needed to operate a business (EC LAP 14, FI LAP 355, OP LAP 17)

FINANCIAL CLERK: A person who is responsible for a company's or organization's financial record keeping (QS LAP 51)

FINANCIAL GOAL: A specific short- or long-term objective that is part of a financial plan; well-written financial goals are specific, measurable, attainable, results-oriented, and time-bounded (QS LAP 30, QS LAP 31, QS LAP 46)

FINANCIAL MANAGER: A person who oversees part or all of a company's or organization's finances (QS LAP 51)

FINANCIAL MODELING: The task of building an abstract representation of a real world financial situation (FI LAP 355)

FINANCIAL PLAN: The part of a company’s business plan that shows how the business has performed (or is likely to perform) financially; how a business intends to use its money (SM LAP 7, SM LAP 13)
A plan for earning, spending, saving, and investing that includes goals and strategies for meeting them (QS LAP 31)

FINANCIAL PLANNER: A professional who specializes in helping people with personal financial matters (Career Opps in Finance, NF LAP 15)

FINANCIAL QUOTAS: Quotas that attempt to relate sales to an organization's total expenses or profits (SE LAP 118)

FINANCIAL RATIO: The comparison of two numbers from a business's financial statement; used as a tool by businesses to see relationships between dollars, numbers, and percentages (FI LAP 4)

FINANCIAL RECORD(S): A document containing information related to the overall income and expenses of a business (EC LAP 71)
Documents containing information related to the amount of money going into and out of a business (NF LAP 1)

FINANCIAL RESOURCES: All the sources of money available to a business or project (QS LAP 19, SM LAP 7)
All the sources of money available to a business (SM LAP 3)

FINANCIAL RISK(S): Possible events and situations that directly impact a company’s cash flow (EC LAP 3, RM LAP 41, SM LAP 75)

FINANCIAL SKILLS: The ability to manage money (PD LAP 66)

FINANCIAL STATEMENT(S): Summaries of accounting information (DS LAP 2, FI LAP 85, IM LAP 184, NF LAP 1)
Records that show a business’s financial activities (FI LAP 9, FI LAP 10)
Summaries of accounting information; records that show a business’s financial activities (FI LAP 351)
Summaries of accounting information; usually the balance sheet, income statement, and cash flow statement (QS LAP 36, QS LAP 38, QS LAP 39, QS LAP 46)

FINANCING: A marketing function that determines the need for and availability of financial resources to aid in marketing activities (BA LAP 3, CM LAP 2)
Funding a business activity or project through debt, equity, or venture capital (FI LAP 7)

FINANCING (COSTS): Funding a business activity or project through debt, equity, or venture capital (EC LAP 71, SM LAP 7)

FINISHED-PRODUCTS INVENTORY: The producer's inventory of completed products that are ready to be marketed (DS LAP 2)
The producer's inventory of completed products that are ready to be marketed; also called finished products inventory (OP LAP 189)

FIRE EXTINGUISHER: A large cartridge containing substances used to put out a fire; may contain water, foam, carbon dioxide, or dry chemicals (RM LAP 2)

FIRST AID: Immediate medical assistance given to an injured or ill person until professional medical help is available (RM LAP 3)

FIRST IMPRESSIONS: The opinions others form about you, your personality, your abilities, and your competence through your personal appearance and actions (PD LAP 2)

FIRST-LINE MANAGEMENT: Supervisors who work directly with the employees who carry out the business's routine work (SM LAP 3)

FISCAL POLICY: The government policy that sets levels of government spending and taxation (EC LAP 9, EC LAP 16, NF LAP 15)

FISCAL YEAR: The 12-month period chosen by a business as its operating year that may or may not coincide with the calendar year (FI LAP 3, IM LAP 3)
The 12-month period chosen by a business as its operating year (QS LAP 39)

FIXED ASSET(S): An asset that cannot easily be converted into cash (e.g., property, equipment) (FI LAP 10)
Items of value a business owns that are not expected to change (e.g., buildings) (NF LAP 1, SM LAP 7)

FIXED BUDGET: A budget that cannot be adjusted during the budgeting period; used as a guideline; also known as a static or master budget (FI LAP 99)

FIXED COSTS: Business costs that are not affected by changes in sales volume (EN LAP 38, PI LAP 3, PI LAP 4, PI LAP 47)

FIXED EXPENSES: Business costs that are not affected by changes in sales volume (FI LAP 91)
Operating costs that do not increase or decrease with changes in production (OP LAP 9)
An expense that does not fluctuate with changes in sales volume or productivity (FI LAP 99)

FIXED INCOME: Earnings that are set at a particular figure and do not fluctuate with inflation (e.g., pensions) (EC LAP 28)

FIXED-INCOME INVESTMENT: An investment, such as a bond, that returns a specified amount of money at predetermined times (QS LAP 45)

FIXTURES: Items that are securely attached to the interior of a building such as counters, shelving units, display cases, and racks (RM LAP 2)

FLAMMABLE LIQUIDS: Oils, grease, paint, gasoline, and solvents or other liquids that catch fire easily (RM LAP 2)

FLAT RATE: A newspaper advertising rate based on a fixed rate per line with no discounts offered (PR LAP 6)

FLAT TAX: A tax under which the same rate applies to everyone (e.g., every business pays 25 percent, no much how much profit it makes) (EC LAP 27)

FLEXIBILITY: The ability to adapt to changes as they occur; adaptability (EI LAP 16, PD LAP 15, QS LAP 7)
The ability to adapt to changes as they occur (Career Opps in Hosp, EC LAP 107, EI LAP 23, EI LAP 41, EI LAP 60, EI LAP 92, EI LAP 131, PD LAP 66, PD LAP 126)
The ability to adapt to changing conditions (PD LAP 12)

FLEXIBLE BUDGET: A budget that can be adjusted with changes in business activity; also known as a dynamic or variable budget (FI LAP 99)

FLEXIBLE POLICY: A rule or guideline that can be easily changed or deleted (HR LAP 25)

FLEXTIME: A scheduling procedure in which employees select their own working hours as long as they work the required number of hours (EC LAP 14, EI LAP 25)

FLIGHTING STRATEGY: A media timing strategy that concentrates advertising during peak sales periods followed by periods of no advertising (PR LAP 5)

FLOOR LIMIT: The maximum amount customers are permitted to charge on their credit cards without receiving authorization from the business (RM LAP 4)

FLOW CHART: A chart used to analyze a sequence of events and uncover the relationships within it (OP LAP 8, OP LAP 519)

FOCUS GROUP: A group formed for the purpose of discussing a specific topic (IM LAP 10, IM LAP 281, IM LAP 284, MN LAP 55, OP LAP 519, PM LAP 16)
A data-collection method in which one or two researchers moderate a group discussion that usually includes anywhere from six to 12 participants (all members of the target market) (IM LAP 17)

FOLLOW-UP: The determination of a customer's satisfaction with a good or service after a sales presentation regardless of whether or not a sale was made (SE LAP 48, SE LAP 115, SE LAP 117)
A selling skill that involves determining a customer's satisfaction with a good or service after a sales presentation, regardless of whether or not a sale was made (SE LAP 119)

FOOD AND DRUG ADMINISTRATION (FDA): The regulatory agency established by the federal government to enforce laws that protect consumers’ health (EC LAP 16, PP LAP 7, PM LAP 7)
The government agency responsible for protecting public health by ensuring the safety of drugs, biological products, food, medical devices, and cosmetics (PM LAP 40)

FOOTNOTE: Additional, relevant information attached to a financial statement (FI LAP 10)

FOREIGN-EXCHANGE MARKET: Forum for trading currencies (QS LAP 49)

FORGIVENESS: Excusing the mistakes or flaws of others (QS LAP 8)

FOR-PROFIT BUSINESS: A business whose overall purpose is to earn a profit (EC LAP 71)

FORCED ANALOGY: A synectics creative-thinking method involving the use of metaphors and similes to create connections where none currently exist (PM LAP 127)

FORCED ASSOCIATIONS: A creativity technique in which a connection is made between two words or objects, or a word and an object (PD LAP 2)
A synectics creative-thinking technique involving forcing random words into associations or connections with a given issue or idea (PM LAP 127)

FORCED QUESTIONING: A creative thinking technique using basic question starters to develop original questions to ask (and answer) about an issue or idea; these question starters include who, what, why, where, when, how, did, will, might, would, could, should, etc. (PM LAP 127)

FORCED RELATIONS: A creative-thinking technique that involves connecting two items or ideas that seem completely unrelated to find new practical combinations and products (PM LAP 127)

FORCING: A conflict response mode in which one or both parties exhibit aggressive behavior and express a low level of cooperation (EI LAP 7)

FOREIGN AID: The money that developed countries give to less developed countries to help with their economic development (EC LAP 4)

FOREIGN EXCHANGE MARKET: A place for trading currencies; the largest financial market in the world; also known as the forex, the FX, or the currency market (EC LAP 30)

FOREIGN STOCKS: Stocks that are issued by companies in countries other than the one in which you live (QS LAP 34)

FORKLIFT: A motorized vehicle with a large, fork-like accessory used to lift and transport heavy objects (RM LAP 2)

FORM 4: An insider ownership report filed with the SEC that lists insiders who are buying or selling their company's stock (QS LAP 36)

FORM 8-K: A report filed with the SEC if a significant, non-recurring event occurs before a 10-Q is due; companies are required to file an 8-K within 15 days of such an event (QS LAP 36)

FORM 10-K: A yearly report, required by the SEC from publicly-traded companies; often more detailed than the company's own annual report (QS LAP 36)

FORM 10-Q: A quarterly report, required by the SEC from publicly-traded companies; unlike the annual 10-K report, the 10-Q is not required to be audited (QS LAP 36)

FORM 13-D: An insider ownership report filed with the SEC when an investor acquires more than 5 percent of a company's stock (QS LAP 36)

FORM UTILITY: Usefulness created by altering or changing the form or shape of a good to make it more useful to the consumer (EC LAP 13)
Usefulness created by altering or changing the form, shape, or look of a good to make it more useful or attractive to the end user (OP LAP 17)

FORMAL EDUCATION: The amount of learning a person has acquired in the classroom (EI LAP 36)

FORMAL PLANNING: Putting your plans into writing and creating a specific, long-term focus (EI LAP 77)

FORMAL RECOGNITION: Recognition that is planned and well thought out; examples include school grading systems, most sport-related awards, and wages and bonuses for work (EI LAP 141)

FORMAL TRAINING: Training that is usually conducted in the classroom that may include a variety of instructional methods (SE LAP 123)

FORTITUDE: Courage in pain or adversity (EI LAP 92)

FORWARD: A trading instrument used on the foreign exchange market; a contract between two parties to buy, sell, or trade currency at an agreed-upon rate (EC LAP 30)

FOSSIL FUELS: Nonrenewable, carbon-based energy sources formed underground from the fossilized remains of plants and animals (EC LAP 14)

FRAGILE: Easily broken or damaged (SE LAP 105)

FRAMING: The way in which one person presents a matter to another person (PD LAP 17, QS LAP 2)
The tendency to respond to situations based on how those situations are posed or viewed (FI LAP 355)

FRANCHISE: A contractual agreement between a parent company and a franchisee to distribute goods or services (BL LAP 1, EC LAP 104, QS LAP 44)

FRANCHISEE: One who buys the right to sell the goods or services of the parent company (franchisor) (BL LAP 1)

FRANCHISING: A method of distributing recognized goods and services through a legal agreement between two parties (BL LAP 1)

FRANCHISOR: A parent company and owner of the name and/or system that is being distributed through a contractual franchising arrangement (BL LAP 1)

FRAUD: A deception purposely carried out to secure unfair or unlawful gain (BA LAP 4, RM LAP 4)
Criminal deception committed for financial gain (FI LAP 343)

FRADULENT: Deceitful; dishonest (EC LAP 106)

FRAYED: Ragged or worn (RM LAP 2)

FREE AGENCY: In professional sports, an athlete’s ability to renegotiate his/her contract with his/her existing team or with another team

FREE ASSOCIATION: a creative-thinking technique that involves reacting to random words or pictures to generate a flow of ideas; each idea is used to trigger others; the process is repeated until connections are made with a given issue or situation (PM LAP 127)

FREE ENTERPRISE: An economic system in which individuals and groups, rather than the government, own or control the means of production–the human and natural resources and capital goods used to produce goods and services; also known as private enterprise (EC LAP 3)

FREE-FLOATING CURRENCY: A currency with a value determined by the foreign exchange market (EC LAP 30)

FREE GOODS: Items that can be obtained without money (EC LAP 6)

FREE-STANDING APPAREL RACKS: Display fixtures that are not attached to a wall (RM LAP 2)

FREE TIME: Time that is free of scheduled or planned duties and responsibilities (PD LAP 1)

FREQUENCY: A quantitative measure of the average number of times a target consumer is exposed to an advertising message (PR LAP 5)

FREQUENCY DISCOUNTS: Rate reductions offered to advertisers for placing a minimum number of ads within a specified period of time (PR LAP 6)

FRICTIONAL UNEMPLOYMENT: Voluntary unemployment that results from normal life circumstances (e.g., moving, changing careers, etc.) (EC LAP 29)

FRINGE BENEFITS: Non-monetary payments that workers receive in addition to wages; e.g., employee discounts (HR LAP 19)

FROM LINE: The location within an e-mail that indicates who sent the message (PR LAP 14)

FRUSTRATIONS: Things that are annoying or keep people from doing what they want to do (HR LAP 4)

FULL EMPLOYMENT: A situation in which the economy is using all of its labor resources in the most efficient way possible (EC LAP 29)

FULL-SERVICE BROKER: A broker who executes basic trades as well as offers investment planning, advice, and other services; charges high commission (QS LAP 48)

FULL-SERVICE E-MAIL MARKETING FIRM: A business that oversees all aspects of executing targeted e-mails, including identifying a business’s e-marketing goals, suggesting appropriate target markets, setting up the in-house list, creating all content, executing the mailings, and tracking the results (PR LAP 14)

FULL WARRANTY: A warranty that covers the entire product (PM LAP 4)

FUNCTION-BASED DISCOUNT: A discount that is based on the marketing functions performed by the buyer for the seller (PU LAP 3)

FUNCTIONAL CONFLICT: A disagreement that is tangible or concrete; often occurs when two parties share a common goal, but approach the process in a different manner (EI LAP 7)

FUNCTIONAL DISCOUNT: A trade discount (PU LAP 3)

FUNCTIONAL STRUCTURE: An organizational design in which the firm is broken into traditional departments, each with its own set of responsibilities and activities (marketing, operations, sales, IT, etc.)(EC LAP 103, SM LAP 64)

FUND MANAGER: Professional who makes investment decisions for a mutual fund (QS LAP 35)

FUNDAMENTAL ANALYSIS: In investing, the study of all aspects of a company in an effort to understand its intrinsic value (QS LAP 41, QS LAP 42, QS LAP 44, QS LAP 46)

FUNDAMENTALS: The aspects of a company that affect its intrinsic value (QS LAP 45, QS LAP 46)

FUNDING: Money available to a business from one or more sources (SM LAP 7)

FUTURE: A trading instrument used on the foreign exchange market; a type of forward that uses a standardized contract and usually has a maturity date of three months (EC LAP 30)

FUTURES: A category of derivatives giving investors the opportunity to buy or sell the rights to an asset according to contracted terms; types are physical delivery and cash settlement (QS LAP 49)

G

GAAP (GENERALLY ACCEPTED ACCOUNTING PRINCIPLES): A set of guidelines and procedures governing accounting practices (FI LAP 9)

GAP ANALYSIS: A tool that allows you to identify the discrepancies between your project and its plan (OP LAP 521)

GANTT CHART: A visual representation of the elements in a project schedule and how they relate to and rely on each other (OP LAP 1)

GATEFOLD: A magazine advertisement on double or triple pages that fold out (PR LAP 6)

GENDER IDENTITY: How people define their own gender (EI LAP 36, EI LAP 139)

GENERAL APTITUDE TEST BATTERY: A group of tests designed to measure an individual's aptitude in different areas (HR LAP 2)

GENERAL COMPETITION: Competition among all businesses for scarce customer dollars (NF LAP 15)

GENERAL MANAGEMENT: A career area in which employees focus on planning, organizing, directing, and evaluating part or all of a business organization through the allocation and use of financial, human, and material resources (Career Opps in BMA, PD LAP 15)

GENERAL PARTNERSHIP: A type of partnership agreement in which all partners are liable for a business’s losses; also known as ordinary partnership (BL LAP 1, BL LAP 6)

GENERATION X: A term used to refer to individuals who were born between the years 1965 and 1980; also known as Gen X (EC LAP 14)

GENERATION Y: A term used to refer to individuals who were born between the years 1981 and 1995; also known as the Millennials (EC LAP 14)

GENERIC ITEM: An unbranded product that is plainly packaged, has lower or standard quality, is sold at a lower price than a branded product, and receives little or no promotion (PM LAP 6)

GENETICALLY MODIFIED ORGANISMS (GMOs): An organism whose genetic material has been altered by means of genetic engineering (PM LAP 40)

GENUINE: Authentic, true (EI LAP 63)

GEOGRAPHIC ORIGIN: The part of the world and the type of area from which a person has come (EI LAP 36)

GEOGRAPHIC SEGMENTATION: The division of a market on the basis of where customers are located (MP LAP 3, PI LAP 47)

GESTURE: A movement of the body or limbs that expresses or emphasizes an idea, sentiment, or attitude (CO LAP 25, HR LAP 20, SE LAP 101)

GIVE-AND-TAKE: A negotiating technique that involves giving another party something s/he wants and receiving something desired, in return; also called bargaining or compromise (EI LAP 62)

GLOBAL/INTERNATIONAL MARKET: Consumers and potential consumers who are all around the world (MN LAP 55)

GLOBAL NAVIGATION: A system for making certain pages are always accessible to visitors by including the same links on every single page within a site (PR LAP 15)

GLOBAL NAVIGATION BAR: A clickable, rectangular icon that identifies the pages which visitors can access on the site (PR LAP 15)

GLOBAL TRADE: The buying and selling of goods and services among nations (EC LAP 4)

GLOBALIZATION: The rapid and unimpeded flow of capital, labor, and ideas across national borders (EC LAP 4, EC LAP 29, EC LAP 104, EC LAP 105, EC LAP 107, EI LAP 33, HR LAP 35, KM LAP 1, QM LAP 1)

GLOBAL POSITIONING SYSTEM (GPS): A navigational system that uses satellite technology to determine location and provide directions (NF LAP 4)

GOAL(S): An objective or want that you plan to fulfill; a statement that clearly describes a task to be accomplished (EI LAP 60, EI LAP 126, HR LAP 11, IM LAP 7, MK LAP 15, MP LAP 7, QS LAP 12, QS LAP 18, QS LAP 22)
Objectives (SM LAP 3)
Things that businesses want to attain; objectives (MK LAP 19)
A concrete end result that you hope to achieve; an objective or plan that you want to fulfill (EI LAP 63) Statements that you make, telling yourself what you want to achieve (PD LAP 1, PD LAP 14, QS LAP 21)
Objectives or wants that you plan to fulfill (EC LAP 71, EI LAP 27, MP LAP 2, PD LAP 16)

GOAL SETTING: The ability to visualize, set, and focus on achieving business objectives (EC LAP 18, PD LAP 16)
The ability to visualize, set, and focus on achieving objectives (EI LAP 77)

GOAL-SETTING THEORY: A process theory of motivation that is based on the belief that individuals have desires that lead to intentions and goals, which in turn, direct and result in behavior (MN LAP 47)

GOOD COP/BAD COP: A negotiating strategy involving at least two people on one side of the negotiation; of the two, one is reasonable and agrees with the opposing party, while the other is unreasonable and disagrees with the opposing party (EI LAP 62, QS LAP 3)

GOOD SAMARITAN LAW: A law passed in some states to protect individuals from liability when they administer accepted first aid to injured persons (RM LAP 3)

GOOD 'TIL CANCELED: In investing, an order restriction that lets a broker know the order should remain active until the investor terminates it; also called an open order (QS LAP 47)

GOOD(S): Tangible objects that can be manufactured or produced for resale (CM LAP 3, EC LAP 1, EC LAP 10, EC LAP 13, OP LAP 17, PM LAP 3, PM LAP 17, PM LAP 79, PR LAP 2, SE LAP 117, SE LAP 119)
A tangible object that can be manufactured or produced for sale (EC LAP 6)
Tangible objects and materials (MK LAP 4, OP LAP 2)

GOODWILL: Positive feelings toward a business; an advantage that a business acquires beyond the value of its products or services (HR LAP 23, SE LAP 115, SE LAP 119)
Positive feelings toward an individual or business; an advantage that an individual or business acquires beyond the value of the goods and services provided (PR LAP 136)
Positive feelings toward a business (CR LAP 10)
An advantage that a business acquires beyond the value of its products or services; the dollar value of goodwill is determined when one company purchases another (QS LAP 38)

GOVERNANCE MECHANISM: Rule or regulation used to ensure that a project stays on track and meets its requirements (OP LAP 158)

GOVERNMENT: A country's arrangement for making and enforcing laws (EC LAP 17)

GOVERNMENT ACCOUNTANT: A person who prepares, analyzes, and verifies financial data for the government as well as for private organizations that are subject to government regulation and taxation; may serve as a bank examiner or IRS (Internal Revenue Service) auditor (QS LAP 51)

GOVERNMENT PURCHASES OF GOODS AND SERVICES: A factor used in calculating GDP that includes all purchases made by the government and the wages of all government workers (EC LAP 1)

GOVERNMENTAL CHANGES: New or revised laws, regulations, policies, public services, leadership, etc. (HR LAP 8)

GRADES: Ratings assigned to products that tell to what extent standards have been met (PM LAP 8)

GRAND-SCALE GOAL: A big, long-term goal (PD LAP 16)

GRAPEVINE: An oral communication method in which information is passed around the company but not formally announced or verified (MN LAP 54)

GRAPHIC DESIGN SOFTWARE: Programs that instruct computers on how to create text, graphics, layouts, backgrounds, and other design components (PD LAP 3)

GREETING (WELCOME) APPROACH: A warm, friendly greeting that makes the customer feel welcome and important (SE LAP 101)

GRIEVANCE: A dissatisfaction expressed through an identified, formal process (MN LAP 45, MN LAP 55)

GRIEVANCE PROCEDURES: A formal method of settling disagreements between workers and employers (EC LAP 5)

GROSS DOMESTIC PRODUCT (GDP): The final market value of the total output of all goods and services produced within a country's geographic boundaries during a year's time; expresses the dollar value of what is produced, not the volume of production (EC LAP 4)
The final market value of the total output of all goods and services produced within a country’s geographic boundaries during a year’s time (EC LAP 1, EC LAP 9, EC LAP 18, IM LAP 184, QS LAP 40)

GROSS DOMESTIC PRODUCT DEFLATOR: A inflation-rate measure similar to the Consumer Price Index, but more flexible since it does not measure fixed categories of goods and services (EC LAP 28)

GROSS DOMESTIC PRODUCT PER CAPITA: The average productivity of individual workers calculated by dividing the gross domestic product by the worker hours required to produce it (EC LAP 18)

GROSS PRIVATE DOMESTIC INVESTMENT: A factor used to calculate GDP that includes the value of all capital goods created in the economy during the year and inventories held by businesses from the current year's production (EC LAP 1)

GROSS PROFIT: Money left after the cost-of-goods expense is subtracted from total income (EC LAP 2, FI LAP 4, QS LAP 38, SE LAP 875)
A company’s revenue after subtracting the costs of the products it has sold (OP LAP 9)

GROSS PROFIT MARGIN: Financial ratio that shows how efficiently a business uses material and labor in the production process; calculated by dividing gross profit by total sales (QS LAP 42, QS LAP 43)

GROSS RATING POINTS (GRPs): The percentage of people reached by a media vehicle multiplied by the frequency of exposure to the advertisement (PR LAP 6)

GROSS WAGES: The amount of money an employee makes before taxes (EC LAP 27)

GROUNDBREAKING: The beginning of a building project at which a symbolic shovel of earth is dug by those who have initiated the project or are responsible for it (PR LAP 8)

GROUND RULES: Basic rules for operating a group discussion (QS LAP 29)

GROUP: People working individually under the guidance of an assigned leader to achieve pre-established goals (QS LAP 18, QS LAP 29)

GROUP SALES: In sports, the marketing of seats and ticket packages to social organizations (PD LAP 51)

GROUP TRAINING: Training presented to small or large groups; usually used for explaining theory or reasons for specific operations (MN LAP 42)

GROUPTHINK: The tendency of people in a group to make decisions together in a way that discourages individual responsibility or creativity (FI LAP 355)
A process that occurs when bad decisions are made by a group because the group’s members fear expressing opinions or suggesting ideas that others may disagree with (EI LAP 134)

GROWTH COMPANY: A company whose sales and earnings per share grow at a rate greater than that of the market; may be large-cap, mid-cap, or small-cap (QS LAP 44, QS LAP 45)

GROWTH NEEDS: Desires that compel persons to make creative or productive efforts for themselves (MN LAP 47)

GROWTH STAGE: The product life cycle stage in which sales rise rapidly (PI LAP 3, PM LAP 17, PM LAP 24, PR LAP 1)

GROWTH STOCKS: Stocks that achieve capital appreciation rather than paying dividends (QS LAP 34, QS LAP 45)

GROWTH STRATEGY: A marketing strategy intended to increase market share or sales (MP LAP 7)

GUARANTEE: A promise made to the consumer that a product’s purchase price will be refunded if the product is not satisfactory; often called a money-back guarantee (EC LAP 3, OP LAP 2, PP LAP 4, PP LAP 7, SE LAP 131)
A promise to the consumer that a product's purchase price will be refunded if the product is not satisfactory; often called a money-back guarantee (FI LAP 10, PM LAP 7)
A promise made by the seller to the customer that the seller will refund the customer’s purchase price if the product does not perform as expected (PM LAP 4)
The fee a licensee pays up front to use trademarked property (PM LAP 14, PM LAP 139)
A promise made to the consumer that a product’s purchase price will be refunded if the product is not satisfactory (SE LAP 115)

GUARANTEED CIRCULATION: A conservative estimate of a magazine's delivered circulation (PR LAP 6)

GUERRILLA MARKETING: Promotional techniques that are unconventional, low-cost, and aim to attract consumers’ attention (PR LAP 1)

GUIDELINE(S): A general boundary line for judging accuracy (QS LAP 22)
Recommended procedures to follow (QS LAP 18)

GUILT: The feeling that you have done something wrong (EI LAP 75)

H

HABITS: Patterns of behavior (EI LAP 134, HR LAP 4)

HABIT-FORMING SUBSTANCES: Drugs and alcoholic beverages that cause mental and/or physical addiction (PD LAP 2)

HACK: Unauthorized access to a computer system (NF LAP 110)

HALF-TRUTHS: Statements that are partly true but leave out some facts (HR LAP 19)

HALLMARK SPORT EVENTS: Popular championships or tournaments that take place only at certain times, such as once a year or once every four years (e.g., the NCAA Final Four or the World Cup) (PD LAP 51)

HAND TRUCK: A two-wheeled upright cart used to transport goods; pushed by handles (RM LAP 2)

HARASSMENT: Any kind of unwelcomed behavior that is carried out for the purpose of annoying or intimidating another person (EI LAP 36, MN LAP 55, PD LAP 251)
Any kind of unwelcomed behavior that is carried out for the purpose of irritating or intimidating another person (HR LAP 411, PD LAP 250)

HARD NEWS: Information that should be announced right away because the public will want to know about it immediately (PR LAP 10)

HARDWARE: The physical components of a computer system (e.g., the central processing unit, hard drive, modem) (BA LAP 3, NF LAP 4, RM LAP 4)

HARMONY: Accord; agreement (HR LAP 19)

HARVESTERS: Computer programs designed to collect e-mail addresses from web sites and discussion groups (BA LAP 4)

HARVESTING: A strategy in which a company continues to offer a declining product but reduces its costs as much as possible (PM LAP 24)

HAWTHORNE EFFECT: Results of a research study of employee productivity at Western Electric in Hawthorne, Illinois, 1927-1932, which indicated that changes, no matter how small, increase employee morale and productivity (MN LAP 40)

HAZARD RISK(S): Potential events or situations that can cause injury or harm to people, property, or the environment (EC LAP 3, RM LAP 41, SM LAP 75)

HAZARDOUS: Dangerous (PM LAP 7)

HEADLINE: Text set in large type and usually positioned at the top of an advertisement (PR LAP 7, PR LAP 9)
The title of a news release or news article (PR LAP 10)

HEDGE FUND: A private fund that uses aggressive investing methods to obtain high returns for its clients; a minimum investment into a hedge fund is usually around $1 million (EC LAP 30)

HERD MENTALITY: In investing, purchasing popular stocks (QS LAP 45)
A mob mentality that causes people to be influenced by others or to adopt certain behaviors (EI LAP 134)

HERNIA: An injury in which part or all of a body organ breaks through surrounding tissue and protrudes; a rupture (RM LAP 3)

HERZBERG'S TWO-FACTOR THEORY: A content theory of motivation in which human needs are classified into hygiene factors and motivation factors (MN LAP 47)

HIDDEN BENEFIT: Advantage of product not recognizable unless pointed out by salesperson (SE LAP 113)

HIDDEN COMPLAINT: The concealment of the true complaint with a secondary, but believable, reason for the dissatisfaction (HR LAP 23)

HIERARCHICAL FORMAT: A system for ordering web-site information around a home page (PR LAP 15)

HIERARCHY: A system in which people are ranked above or below one another according to their status (EI LAP 135) A system in which people are ranked above each other according to authority (PD LAP 252)

HIGH-CONTEXT CULTURE: A culture that relies heavily on nonverbal communication to get messages across (EC LAP 45)

HIGHER ORDER NEED: A need that an individual addresses after s/he has met basic needs such as food, clothing, and shelter; higher-order needs include social belonging, self-esteem, and self-actualization (MK LAP 14)

HIJAB: A head scarf worn in public by some Muslim women; can also be used to describe the Islamic dress code for Muslim women, which requires them to dress modestly in public (MP LAP 3)

HISPANIC: Individual whose ethnic heritage is Spanish (MN LAP 55)

HISTOGRAM: A bar graph that shows the distribution of data (OP LAP 8)

HOFSTEDE’S DIMENSIONS OF NATIONAL CULTURES: Measures of different aspects of society; based on the experience and research of Geert Hofstede (EC LAP 45)

HOLDING COST: The money it takes to keep inventory in stock (OP LAP 189)

HOME-BASED BUSINESS: A company that is operated in a residential dwelling (PD LAP 66)

HOMOGENEOUS WORKFORCE: A workforce in which workers have many similarities; the opposite of a diverse workforce (MN LAP 55)

HONEST: Truthful (HR LAP 19, QS LAP 10)

HONESTY: Truthfulness (EI LAP 9, EI LAP 21, EI LAP 123, EI LAP 127, EI LAP 128, EI LAP 129, EI LAP 131, EI LAP 138, HR LAP 19, QS LAP 8)

HORIZONTAL CONFLICT: A type of channel conflict that occurs between channel members at the same level (e.g., two retailers) (CM LAP 2)

HORSEPLAY: Behavior such as running, jumping, wrestling, or showing off (RM LAP 2)

HOSPITALITY: An activity that involves welcoming special guests and arranging for travel, accommodations, meals, and entertainment (Career Opps in Hosp)
In event marketing, an activity that involves welcoming special guests and arranging for travel, accommodations, meals, and entertainment (PD LAP 51)

HOSTING: Storing web pages on a server for a monthly fee (BA LAP 3)

HOSTING SERVICE DISTRIBUTION METHOD: A technique in which a business pays a fee to a service provider (e.g., Internet Service Provider) for sending the business's e-mails to recipients (PR LAP 14)

HOT-STOVE RULE: General guidelines for administering remedial action that compare the administration of discipline to touching a hot stove (MN LAP 53)

HOUSE OF QUALITY MATRIX: A tool used during the production-planning process to determine if a product meets customer needs (OP LAP 8)

HOUSEHOLD: A person or persons, related or unrelated, living in the same housing unit (SE LAP 117)

HOUSEHOLD SECTOR: A segment of the economy that does not include government or business; those making purchases for personal consumption (EC LAP 1)

HTML: Hypertext Markup Language; the language for encoding documents used by the World Wide Web (BA LAP 4, BA LAP 5, PD LAP 2, PR LAP 13, PR LAP 14)

HTML CODE: Hypertext Markup Language, or markup code, that instructs a computer program (e.g., web browser or e-mail client) as to how to display words and images (PM LAP 9, PR LAP 15)

HUMAN CAPITAL: The sum of a person’s or a group’s knowledge, skills, health, and values; the intangible human talent that is brought to a task (EI LAP 16, QS LAP 27)
The value of an employee’s skill set (QS LAP 42)

HUMAN DIRECTIONALS: Individuals wearing or holding signs to advertise a business or product (PR LAP 3)

HUMAN RELATIONS: The ways that people form and conduct relationships with one another (EI LAP 37)

HUMAN RESOURCES: People who work to produce goods and services (EC LAP 6, EC LAP 7, EC LAP 13, EC LAP 14, EC LAP 15, EC LAP 17, EC LAP 71, HR LAP 35, OP LAP 17, SE LAP 117, SM LAP 4, SM LAP 7)
People who work to produce goods or services (SM LAP 3)
People who work to produce goods and services (OP LAP 531)
People who work to complete a project (QS LAP 19)

HUMAN RESOURCES MANAGEMENT: The process of planning, staffing, leading, and organizing the employees of the business (EC LAP 71, HR LAP 35)
A career area in which employees focus on the staffing activities that involve planning, recruitment, selection, orientation, training, performance appraisal, compensation, and safety of employees (Career Opps in BMA, PD LAP 15)

HUMAN-SERVICES PROGRAMS: Benefits such as free health care, education, and welfare that are provided by a government to its citizens (EC LAP 17)

HUMILITY: A lack of pride (EI LAP 41, QS LAP 7, QS LAP 8)

HYBRID: A form of business ownership that combines elements of corporations and either sole proprietorships or partnerships (BL LAP 6)

HYBRID STRUCTURE: A form of business ownership that combines elements of corporations and either sole proprietorships or partnerships (BL LAP 1)

HYGIENE: The habits and practices of cleanliness and care you perform regularly to take care of yourself and your body (PD LAP 2)

HYGIENE FACTORS: Needs to avoid pain in the workplace (MN LAP 47)

HYPERINFLATION: An environment in which prices are rising at a rapid or extremely high rate (EC LAP 28)

HYPERLINK: A component of an electronic document that can be clicked on in order to jump to another place within the document or into a different document (PR LAP 13, PR LAP 14)

HYPOCRITE: A person who says s/he lives by certain values, but in reality does not (HR LAP 411)

HYPOTHESIS: A statement of the expected outcomes of a research project; a proposed explanation for something
A statement of the expected outcomes of a research project (IM LAP 10)
A proposed explanation for something (IM LAP 281, IM LAP 284)

I

IDEA: A formulated thought resulting from a representation of a concept within the mind (PM LAP 127, QS LAP 12)

IDEA GENERATION: The process of thinking up or creating new plans, schemes, thoughts; used in creating new products and modifying existing products (PM LAP 17)
The conscious or unconscious process of thought formulation (PM LAP 127)

IDEA SELLING: The process of convincing other people that an idea, proposal, or strategy will lead to positive results for them or for their organization (EI LAP 108)

IDEAL MARKET EXPOSURE: Ensuring that a product is available to the target market without overexposing the product (CM LAP 2)

IDEATION: the process of generating and developing new ideas (PM LAP 127)

IDENTIFICATION: Element of an advertisement that identifies the product or the advertiser and may include additional information about the business (PR LAP 7)

IDENTITY THEFT: The fraudulent acquisition and use of a person's private identifying information (e.g., name, Social Security number), usually for financial gain (CR LAP 17)

IDIOM: Expressions that can’t be taken literally, such as “I’ll sleep on it” (EC LAP 45)

IFRS (INTERNATIONAL FINANCIAL REPORTING STANDARDS): A set of international guidelines and procedures governing accounting practices (FI LAP 9)

IGNORANCE: Lack of knowledge or information (EI LAP 33)

IGNORING: A conflict response mode in which one or both parties exhibit passive behavior and express a low level of cooperation; also called withdrawal (EI LAP 7)

ILLEGAL: Prohibited by law (EC LAP 106)

ILLUSTRATION: A photograph, drawing, painting, or graphic such as a chart, table, or graph (PR LAP 7, PR LAP 9)

IMAGE: The way something is viewed (HR LAP 4, IM LAP 7, MK LAP 12, PM LAP 140, PR LAP 2)

IMAGINATION: The ability to see something that’s not there (PD LAP 12)

IMMIGRANT: Anyone who was born in one country and emigrated to another country to live (MN LAP 55)

IMMIGRATION: An influx of new residents whose origin was another country (IM LAP 9)

IMPACT: The impression an advertisement will make on the average consumer in the target audience (PR LAP 5)
The effect or influence of an event (SM LAP 75)

IMPARTIAL: Fair; unbiased (OP LAP 190)
Not affected by personal bias or prejudice (EI LAP 127)

IMPATIENT CUSTOMERS: Customers who feel they must be helped immediately, regardless of the circumstances (CR LAP 9)

IMPERSONAL: Lack of personal connection or concern (SE LAP 105)

IMPLEMENT: To do or to take action (QS LAP 23)

IMPLEMENTATION: The process of doing or taking action (MN LAP 50, SM LAP 13)

IMPLICATIONS: Effects or consequences that might happen in the future (EI LAP 91)

IMPLIED WARRANTY: An unwritten, unspoken warranty understood by the customer and the seller that the product will perform as expected (PM LAP 4)

IMPORTING: The process of buying goods and services from other nations (EC LAP 4)

IMPORTS: Goods or services bought from other nations (EC LAP 4)
Goods or services purchased from other countries (EC LAP 27, EC LAP 28, EC LAP 30)

IMPOSE: To take advantage of another person (HR LAP 4)

IMPROMPTU: Done without being planned, organized, or rehearsed (CO LAP 25)

IMPULSE ITEM: Any item purchased as a result of an on-the-spot decision to buy (EC LAP 10)

IMPULSIVE PERSONALITY: A basic type of customer personality characterized by the customer's asking few questions, buying to meet inner needs and wants, selecting items quickly, shopping leisurely, and/or wanting purchases to be noticed (SE LAP 112)

IMPULSIVE SPENDING: Spending that is the result of an on-the-spot decision and not part of an overall spending plan (QS LAP 31)

IN-BASKET SIMULATIONS: An instructional method in which trainees are given a number of hypothetical, but true-to-life, problems that they are asked to solve during the fixed time of the simulation (MN LAP 50)

INBOX: The location in an e-mail program where all new mail is received (PR LAP 13)

INCENTIVE(S): Something that will fulfill a customer’s specific desire or need (CR LAP 1, PR LAP 187)
A reward that motivates a channel member to achieve a specific goal (CM LAP 2)
A motivator (in sales, for example, a monetary bonus for reaching a certain goal) (SE LAP 895)
A function of relative prices that encourages producers to change and reallocate their resources; motivators (EC LAP 12)
A prize or reward that motivates or encourages someone to behave a certain way (EI LAP 135)

INCIDENT LOG: A record of accidents, injuries, and other mishaps occurring at a particular business or in a certain department (SM LAP 75)

INCOME: The money received by resource owners and by producers for supplying goods and services to customers (EC LAP 2, EC LAP 71, FI LAP 4, FI LAP 106, IM LAP 7, MP LAP 2)
Money received by a business or an individual from outside sources (FI LAP 85, OP LAP 25)
The money received by resource owners and by producers for supplying goods and services to consumers (EC LAP 6)

INCOME STATEMENT: A financial summary that shows how much money the business has made or has lost over a period of time; also called the profit-and-loss statement (FI LAP 99, FI LAP 351, PI LAP 5, SM LAP 7, SM LAP 13)
A financial summary that shows how much money the business has made or has lost; also called the profit-and-loss statement (FI LAP 85)
A summary of a business’s income and expenses over a period of time; also known as a profit-and-loss statement (QS LAP 36, QS LAP 38, QS LAP 39)
A summary of a business’s income and expenses over a period of time (FI LAP 4, IM LAP 184)
A financial record that measures a company’s performance during a certain period of time (FI LAP 9, FI LAP 10)

INCOME STOCKS: Stocks that pay a higher-than-average dividend (QS LAP 34)

INCOME TAX: A portion of an individual's or business's earning owed to the government (EC LAP 27)

INCORPORATE: To become a legal corporation (EC LAP 27)

INCREASING RETURNS: A growth in marginal product occurring as each additional input is added; occurs during stage one of production (EC LAP 31)

INCREMENTAL BUDGETING: Traditional budgeting strategy in which managers make small adjustments based on the last budgeting period (FI LAP 99)

INCREMENTALISM: The diminishing of ethical values over time (FI LAP 355)

INCUBATION: A time when a concept or idea is set aside (PD LAP 2)

INDECISIVE CUSTOMERS: Customers who frequently have great difficulty in making a choice or a buying decision (CR LAP 9, EI LAP 30)

INDEPENDENCE: The ability to think and act on your own and complete tasks without the direction of others (EI LAP 22, EI LAP 240, PD LAP 66)
Thinking or acting for oneself; not relying on others (PD LAP 12)

INDEPENDENT INSURANCE AGENTS OF AMERICA: An organization whose members are agencies that sell fire, casualty, and surety insurance. Address: 127 South Peyton, Alexandria, VA 22314 (CD LAP 1)

INDEPENDENT UNION: A union that does not belong to a federation (EC LAP 5)

INDEPENDENT VARIABLE: A factor whose value is not affected by other factors (IM LAP 284)

INDEX: A measure of average stock prices that gives a general indication of a particular market, or the market as a whole (QS LAP 40)

INDEX FUND: A stock portfolio that copies the performance of a particular stock market index, such as the S&P 500 or the Nasdaq 100 (QS LAP 35)

INDIFFERENCE: Lack of interest (HR LAP 20)

INDIFFERENT: Lacking interest or concern (HR LAP 11)

INDIRECT COMPETITION: Rivalry between or among businesses that offer dissimilar goods or services (EC LAP 8)

INDIRECT DISTRIBUTION: A channel of distribution in which goods and services move from the producer to intermediaries and then to consumers or industrial users (CM LAP 2, CM LAP 3)

INDIRECT QUOTATION: An expression of an exchange rate that lists the foreign currency first (as the base currency) (EC LAP 30)

INDIVIDUAL BRAND: A category of brands in which different brands are used for products owned by own company (PM LAP 6)

INDIVIDUAL RETIREMENT ACCOUNT (IRA): A tax-deferred retirement plan, usually for people not covered by a 401(k) plan (QS LAP 41)

INDIVIDUALISM: An emphasis on independent work and accomplishments (EI LAP 33)

INDIVIDUALIST SOCIETY: A society in which group ties are loose and everyone is expected to take care of her/himself (EC LAP 45)

INDULGENCE: A dimension of national culture that refers to the tendency to allow oneself to gratify desires or enjoy pleasures (EC LAP 45)

INDUSTRIAL DISTRIBUTOR: A channel member that buys industrial goods and sells them to industrial users (CM LAP 3)

INDUSTRIAL GOODS: Tangible items that will be consumed by industrial users (CM LAP 3, EC LAP 17, OP LAP 17)

INDUSTRIAL GOODS AND SERVICES: Products purchased by producers for resale, to make other goods and services, and/or to use in business operations (EC LAP 10)

INDUSTRIAL MARKET: A customer or potential customer who purchases items for use in the operation of a business, for resale, or for making other goods (MP LAP 3)

INDUSTRIAL UNION: A union made up of workers in the same industry (EC LAP 5)

INDUSTRIAL USER: A business that buys materials, services, or goods that will be used to make other goods or used in the operation of the company (CM LAP 2, CM LAP 3)
A business that buys materials, services, or goods which will be used to make other goods or which will be used in the operation of the company (MK LAP 1)

INDUSTRIOUSNESS: Willingness to work hard (EI LAP 9, EI LAP 240)

INDUSTRY: All of the businesses that operate within a specific field of work (QS LAP 40, QS LAP 42, QS LAP 45)

INDUSTRY FORECASTS: Predictions of the future prospects for entire industries such as housing or retailing (IM LAP 3)

INDUSTRY TREND: The direction in which a particular industry is moving (e.g., sales in a particular industry may be increasing or decreasing) (FI LAP 91, IM LAP 3)

INEFFECTIVE HUMAN RELATIONS: Unsuccessful interactions with others; the inability to get along (HR LAP 1)

INELASTIC DEMAND: A form of demand in which changes in price do not affect demand. EC LAP 11, PI LAP 3)
A market situation in which price changes have little to no impact on product sales (PI LAP 47)

INFERIOR ATTITUDE: Outlook of people who believe that they are less worthy than the people around them; they lack self‑respect but tend to think highly of others (HR LAP 9)

INFLATION: A rapid rise in prices that may occur when demand exceeds supply or when productivity declines and costs of labor go up (EC LAP 1, EC LAP 9, EC LAP 18, EC LAP 105, IM LAP 3, IM LAP 184, NF LAP 15)
A rapid rise in prices, usually occurring when demand exceeds supply (EC LAP 4)
An increase in the cost of goods and services (QS LAP 30, QS LAP 40)
A steady increase in the general price levels of consumer goods and services over a period of time (EC LAP 28, EC LAP 30)

INFLATION TARGETING: An economic policy in which a government attempts to guide inflation to a specific rate (EC LAP 28)

INFLATION RATE: Annual percentage change in inflation (EC LAP 28)

INFLECTION: Change in the pitch of the voice while speaking; used to emphasize certain words or phrases (CO LAP 25, HR LAP 20, SE LAP 120)

INFOMERCIAL: Lengthy commercial that looks likes a television program (PM LAP 140)

INFORM: To expand an audience’s knowledge or give them a new skill; a purpose of oral presentation (CO LAP 25)

INFORMAL EDUCATION: Knowledge acquired through life experiences (EI LAP 36)

INFORMAL RECOGNITION: Recognition that is offered outside of formal systems; is often spontaneous; examples include positive comments, a pat on the back, or a high five (EI LAP 141)

INFORMAL TRAINING: Training conducted on-the-job or in the field usually by experienced salespersons or sales managers (SE LAP 123)

INFORMATION: Knowledge, facts, or data presented in a useful form (NF LAP 110)
Knowledge, facts, or data (EC LAP 13, NF LAP 15, SM LAP 3)
Knowledge and facts in useful form (FI LAP 9)
Data (facts and figures) in useful form (KM LAP 1)
Data presented in a useful form (IM LAP 2) most current definition

INFORMATION DEVELOPMENT: A career that involves the creation of the subject matter found on the WWW (PD LAP 3)

INFORMATION-GATHERING PROBE: A technique for probing in which the salesperson's objective is to find out information about customers that will be helpful in satisfying customer needs (SE LAP 120)

INFORMATION HOARDING: Keeping knowledge to one’s self to prevent others from benefitting from it due to selfishness or motivated by the desire to gain a competitive advantage (EI LAP 130)

INFORMATION MANAGEMENT: The process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data for the purpose of assisting business decision making (NF LAP 110)
The process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data (EC LAP 71)
The process of accessing, processing, maintaining, evaluating, and disseminating information for the purpose of assisting business decision-making (KM LAP 1)

INFORMATION OVERLOAD: Communication that is too much and/or comes too fast to process at one time (NF LAP 15, NF LAP 110)
Too much data and/or data that comes too fast to process at one time (IM LAP 184)
The problems created by the presence or availability of too much information; can cause a person to feel overwhelmed or have difficulty making decisions (KM LAP 1)

INFORMATION REPORTING: Moving information through the appropriate channels or making information accessible to those who need it (IM LAP 2)

INFORMATIONAL POWER: The ability of an individual with information or knowledge to influence the behaviors of others (EI LAP 135)

INFORMED CONSENT: A voluntary agreement to participate in research (IM LAP 25)

INFORMED PERSONALITY: A basic type of customer personality characterized by the customer's displaying confidence in choices, spending for quality, being a trendsetter, and/or wanting the best (SE LAP 112)

INFRASTRUCTURE: The basic roadways, utilities, and other services (police, fire, etc.) that create a foundation for a society (EC LAP 104)

INFRASTRUCTURE DEVELOPMENT: A career that involves the creation of the components that provide support for the Internet and its applications (PD LAP 3)

IN-GAME PROMOTIONS: In sport marketing, a team or organization's attempt to communicate with and entertain fans during the course of play (PD LAP 51)

INHERENT: Existing in something as a permanent, essential, or characteristic attribute (EI LAP 92)

INHIBITIONS: Feelings that hold you back from doing something (QS LAP 5)

IN-HOUSE DISTRIBUTION METHOD: A technique in which the business is responsible for all activities relating to the creation and transfer of e-mail messages from the business to the recipients (PR LAP 14)

IN-HOUSE LIST: An organized collection of information about individuals who have expressed a desire to receive e-mails from a business (PR LAP 14)

INITIAL SALES TRAINING: Sales training developed for new recruits that is intended to influence their knowledge, skills, and attitudes (SE LAP 123)

INITIATIVE: Willingness to act without having to be told to do so; willingness to accept/seek additional or unpleasant duties; exceeding employer's expectations (EI LAP 9, EI LAP 240, MN LAP 40)

INJUNCTION: A court order forbidding someone from carrying out an act, e.g., an injunction against picketing (EC LAP 5)

INJURY: Physical harm or damage (RM LAP 3)

INNOVATION: Something new, such as a new product, strategy, or process (EC LAP 9, EC LAP 107, EI LAP 45)
Something new, such as a new product, method, strategy, or process (PD LAP 126)
The creation of new, unique products (PD LAP 66)
The process of creating new or more effective products, processes, services, technologies, or ideas (EI LAP 108, KM LAP 1)
The creation or discovery of something new, such as a new product, strategy, or process (EC LAP 103)
The ability to make relevant changes or improvements (PD LAP 12)

INNOVATIVE: Able to come up with something new (EI LAP 27, EI LAP 130, EI LAP 134)

INNOVATIVE MANAGEMENT: A style of management that is more participative and facilitative than traditional, controlling management (EC LAP 107)

INPUT(S) : Contribution of information; resources (QS LAP 12)
Resources (OP LAP 189)

INPUTS: The specific economic resources used in producing goods and services (EC LAP 18, EC LAP 31, OP LAP 17)

INQUIRY, THE: Method of answering objections in which the salesperson asks questions in an attempt to uncover the true reason behind an objection; also called question method (SE LAP 874)

INSERTS: High-quality newspaper advertisements printed on higher quality paper and inserted into the newspaper (PR LAP 6)

INSIDER TRADING: When a company’s owners, directors, or key management trade its stock; illegal when trading on information that is not disclosed to the public (QS LAP 50)

INSIDERS: Owners, directors, and key management of a company (QS LAP 36)

INSIGHT: The “Aha!” moment when an answer comes to you (QS LAP 5)

INSPIRATION: An influence on an individual that drives him/her to take action (EI LAP 133)

INSTALLATIONS: Industrial goods that are used to produce other goods and services (EC LAP 10)

INSTALLMENT CREDIT ACCOUNT: A type of credit account set up to handle one total amount of credit that is to be paid off in regular installments (FI LAP 2)

INSTITUTIONAL INVESTORS: Mutual fund managers, large investment firms, and significant holding companies who invest in the stock market (QS LAP 40)

INSTITUTIONAL PROMOTION: A type of promotion that aims to create a certain image of the company in the eyes of consumers; also known as corporate promotion (PR LAP 4)

INSTRUMENT: In finance, any medium used for borrowing purposes (EC LAP 30)

INSUBORDINATION: Defiance of authority (PD LAP 251)

INSULTING CUSTOMERS: Customers who intentionally make unpleasant remarks or use foul language (CR LAP 9)

INSURANCE: A contractual agreement in which one company (insurer) will pay for specified losses incurred by the other company (insured) in return for installment payments (premium) (Career Opps in Finance, EC LAP 3, PD LAP 15)

INSURANCE AGENT: A person who sells insurance policies; may sell a variety of other financial products and services as well (QS LAP 51)

INSURANCE CARRIER: A large company that provides insurance and assumes the risk covered in the policies (QS LAP 51)

INSURANCE PREMIUM: A fee paid to an insurance company for providing insurance protection (PP LAP 7, PM LAP 7)

INTANGIBLE(S): Not having a physical presence (FI LAP 10)
In a cost-benefit analysis, costs and benefits that are difficult to quantify in dollar amounts (FI LAP 11)
Having no physical presence (OP LAP 17)
Not able to be touched; not having physical presence (PM LAP 40)
Not capable of being detected through the senses (PM LAP 79)
Not able to be touched or held (MK LAP 12)
Not able to be detected through any of the five senses (PI LAP 47)

INTANGIBLE ASSET: An asset that is not physical in nature; in investing, intangible assets include copyrights, patents, intellectual property, goodwill, etc. (QS LAP 42)

INTEGRATED MARKETING COMMUNICATIONS: The practice of coordinating all promotional activities to form a unified brand message (PR LAP 1)

INTEGRITY: Adhering to an established set of ethics and sound moral principles at all times (CR LAP 17, FI LAP 355)
Adhering to an established set of personal ethics and sound moral principles (EI LAP 9, EI LAP 16, EI LAP 41, EI LAP 126, EI LAP 127, EI LAP 138, FI LAP 351, HR LAP 19, PD LAP 251, QS LAP 7, QS LAP 8, QS LAP 27)
Adhering to an established set of personal ethics and sound moral principles; acting with honesty in all situations (EI LAP 4, EI LAP 25, EI LAP 123, EI LAP 124, EI LAP 125, EI LAP 128, EI LAP 131, EI LAP 132, EI LAP 137, IM LAP 25, KM LAP 2, OP LAP 190, OP LAP 675, RM LAP 41)
Acting with honesty in all situations (EC LAP 106)
Wholeness; soundness (FI LAP 343)

INTELLECTUAL CAPITAL: The value of employees’ knowledge that may provide the organization with competitive advantages (KM LAP 2)

INTELLECTUAL DIVERSITY: An environment in which new and different ideas are embraced (EI LAP 136)

INTELLECTUAL PROPERTY: Intangible business assets resulting from thinking processes (KM LAP 2, NF LAP 1)

INTELLIGENCE: The ability to know or learn (QS LAP 5)

INTELLIGENCE QUOTIENT: A number used to express the cognitive intelligence of a person based on a standardized test; also called IQ (EI LAP 1, QS LAP 14)

INTENSIVE DISTRIBUTION: A distribution pattern in which a producer sells a product through every available wholesaler and retailer in a geographic area where consumers might look for it (CM LAP 2)

INTENSIVE MEDIA COVERAGE: An advertising strategy based on reaching a small audience often (PR LAP 5)

INTENT, INTENTION: The purpose one has in mind (QS LAP 22)

INTERBANK MARKET: A financial market used for trading between commercial banks; excludes retail investors and individuals (EC LAP 30)

INTERDEPENDENCY: People relying on each other to accomplish a task (EC LAP 7)

INTERDEPENDENT: Influencing or relying upon one another (EC LAP 17, EI LAP 9, EI LAP 37, EI LAP 130, EI LAP 240)

INTEREST: The reward or cost of lending or borrowing money, usually figured as a percentage of the amount (EC LAP 71, QS LAP 30)
Money payments for the use of borrowed money (FI LAP 91)
The fee which lenders charge borrowers for the use of credit (FI LAP 2)

INTEREST RATE: The percentage figure used in calculating interest charges (FI LAP 2)
The amount a lender charges a borrower for use of the money; expressed as a percentage of the principal loan amount (EC LAP 28, EC LAP 30, IM LAP 184)

INTEREST-RATE RISK: The possibility of loss due to a rise in interest rates over a period of time (QS LAP 33)

INTERESTS: The things that a person is curious about, concerned for, or involved with (HR LAP 2, HR LAP 20, IM LAP 9)
A person’s needs or wants (EI LAP 62, QS LAP 3)

INTERMEDIARIES: Channel members operating between the producer and the consumer or industrial user to help in the movement of goods and services (CM LAP 2, CM LAP 3, MN LAP 43, PR LAP 1, PR LAP 2, SE LAP 117)
Channel members operating between the producer and the consumer or individual user to help in the movement of goods and services (PM LAP 6)

INTERMEDIATE FORECAST: A sales forecast for a period of five years or less (IM LAP 3)

INTERMEDIATE PRODUCTS: Items that are part of other finished products (EC LAP 1)

INTERMEDIATE-RANGE FORECASTING: Sales forecasting that predicts sales for periods of three months to two years; used to plan quarterly or yearly budgets or to determine whether or not to make capital expenditures (purchases of equipment, land, etc.) (MP LAP 5)

INTERMEDIATE-TERM TIME HORIZON: An investing time frame of 5 to 15 years (some sources say 3 to 10 years) (QS LAP 41)

INTERMITTENT PRODUCTION PROCESS: A production process in which production periodically stops and then restarts (OP LAP 17)

INTERNAL ACCOUNTANT: A person who prepares, analyzes, and verifies financial data for corporations or other organizations, with an emphasis on checking for fraud or waste (QS LAP 51)

INTERNAL ACCOUNTING CONTROLS: Policies and procedures that are created and enforced to ensure the reliability of accounting systems (FI LAP 343)

INTERNAL BRANDING: The process of building a business’s corporate brand among its employees; educating employees so that they understand and embrace the values, personality, and promise of their corporate brand (PM LAP 10)

INTERNAL CONFLICT: Conflicting thoughts or ideas within yourself (EI LAP 7)

INTERNAL CUSTOMERS: The people (i.e., employees) who work cooperatively together to achieve business goals (CR LAP 1, PM LAP 1)

INTERNAL DATA: Facts and figures located inside a company (IM LAP 2, IM LAP 10)
Secondary information that already exists in an organization’s “in-house” system (IM LAP 281)

INTERNAL DISTRACTION: A concern or worry on the part of the listener that takes away from his/her ability to attend to the speaker’s message; examples include hunger or thirst, a personal problem, or poor health, etc. (CO LAP 17)

INTERNAL ENVIRONMENT: A business’s internal, controllable surroundings; consists of elements such as finances, personnel, research and development, production, and marketing (NF LAP 15)

INTERNAL FACTOR: A force that exists within the company itself (SE LAP 932)

INTERNAL FAILURE COSTS: The costs associated with defective products reaching customers (QM LAP 1)

INTERNAL FEEDBACK: Evaluative information that comes from within you (EI LAP 15, QS LAP 20)

INTERNAL INFORMATION: Facts that come from sources inside the business (e.g., accounting records, financial statements) (IM LAP 25, MP LAP 5)

INTERNAL MOTIVATION: Wanting to achieve something for your own satisfaction (QS LAP 5)

INTERNAL REVENUE SERVICE (IRS): A United States federal agency that collects taxes and enforces tax law (BL LAP 6, EC LAP 27)

INTERNAL RISKS: Financial risks that are controlled by the business, such as poor budgeting, inaccurate financial data, and inadequate accounting processes (EC LAP 3)

INTERNAL SOURCES: Contacts within the school, organization, or club (QS LAP 19)
Sources within your organization (OP LAP 531)

INTERNAL TRAINING: Training provided by management or the company's training staff; usually conducted within the firm (MN LAP 42)

INTERNATIONAL ASSOCIATION OF AMUSEMENT PARKS AND ATTRACTIONS: An organization whose membership is composed of operators of amusement parks, tourist attractions, swimming pools and beaches, and manufacturers of outdoor amusement equipment. Address: 1448 Duke Street, Alexandria, VA 22314 (CD LAP 1)

INTERNATIONAL LAW: Laws created and enforced by organizations such as the United Nations and the International Criminal Court that deal with agreements between nations and globally accepted standards for behavior (BL LAP 163)

INTERNATIONAL ORGANIZATION FOR STANDARDIZATION (ISO): The world’s largest developer of voluntary international standards for products, services, and good practice (OP LAP 8)
A non-governmental organization that develops and publishes standards for business, government, and society (OP LAP 17)

INTERNET: A worldwide network of computers that enables users to access information and communicate with others (BA LAP 3, PR LAP 6)

INTERNET BROWSER: Software used to access and display web pages (BA LAP 3)

INTERNET CORPORATION FOR ASSIGNED NAMES AND NUMBERS (ICANN): An agency established by the federal government to manage how domain names are distributed (BA LAP 5)

INTERNET CREDIT-CARD FRAUD: A deception carried out to secure unfair or unlawful gain by individuals using stolen credit-card information (BA LAP 4)

INTERNET FRAUD COMPLAINT CENTER: A U.S. government agency responsible for fighting Internet fraud (BA LAP 4, BA LAP 5)

INTERNET SERVICE PROVIDER: A company that provides access to the Internet, usually for a fee (e.g., America Online) (PR LAP 13, PR LAP 14)

INTERNET TAX FREEDOM ACT: A law that prohibits any new Internet taxes (BA LAP 5)

INTERNET TELEPHONY: Technology that allows users to communicate over the Internet rather than through traditional public networks (NF LAP 4)

INTERNET-USE POLICIES: General rules that outline the proper use of the Internet at work (BA LAP 5)

INTERNET USE TAX: Money paid by the buyer to the state based on a percentage of the sale price (BA LAP 4)

INTERNSHIP: Training in which schools and businesses cooperate to provide on-the-job practice for learners; learners receive classroom instruction and on-the-job experience (MN LAP 42, PD LAP 3, PD LAP 51)

INTERPERSONAL RELATIONSHIPS: Interactions between individuals (EI LAP 14, MN LAP 55)

INTERPERSONAL SKILLS: The ability to communicate, interact, and build relationships with others (SM LAP 3)

INTERPRET: To explain (HR LAP 25, QS LAP 18, QS LAP 24)

INTERPRETIVE QUESTION: A type of question asked to check for understanding when the salesperson summarizes the customer’s ideas in his/her own words

INTERRELATED: Having an effect on or depending upon one another (NF LAP 15, FI LAP 106)

INTRANET: An internal network similar to the Internet that is accessible only by authorized personnel; used to access information and communicate with others within an organization (SE LAP 131)
A computer network that is restricted to the organization it serves; an internal Internet (KM LAP 1)

INTRINSIC MOTIVATION: Motivation that comes from within an individual and is a result of his/her work or task (EI LAP 59, EI LAP 133)

INTRINSIC VALUE: The underlying actual value of a company; a company’s actual, fair worth (QS LAP 42, QS LAP 49)

INTRODUCTION STAGE: The product life cycle stage when the product first appears in the marketplace (PM LAP 17, PM LAP 24)
INTRODUCTORY STAGE: The product life cycle stage when the product first appears in the marketplace (PI LAP 3, PR LAP 1)

INTROVERT: A person who draws energy from within himself/herself; tends to be reserved and reflective and might take pleasure in solitary activity (EI LAP 126)

INTUITION: Instinct; “gut feelings” (EI LAP 125, KM LAP 1)
The ability to rely on your own instincts or inner reasoning (PD LAP 12)

INTUITIVE PROBLEM SOLVING: A problem-solving method that relies on gut feeling and flashes of insight (PD LAP 77, QS LAP 26)

INVENTIVENESS: The ability to create something original (PD LAP 12)

INVENTORY: All the stock that a business has on hand (DS LAP 2, DS LAP 3, DS LAP 6, OP LAP 8, OP LAP 189, QS LAP 38)
Stock of goods (EC LAP 14, FI LAP 343, OP LAP 190)
The goods a business has in stock (MP LAP 5)

INVENTORY CONTROL: Tracking the amount, the kind, and the value of inventory that a business has on hand (DS LAP 2, DS LAP 6, OP LAP 189)

INVENTORY CONTROL SYSTEM: The methods used to track inventory (DS LAP 2, DS LAP 6)

INVENTORY LEVEL: The amount of goods on hand (FI LAP 2, IM LAP 3)

INVENTORY RECORD: A document containing information related to the goods that a business has on hand or on order (NF LAP 1)

INVENTORY MANAGEMENT: The process of supervising and controlling the number of finished products a company has in stock (EC LAP 71)

INVENTORY SHRINKAGE: Losses of inventory due to such causes as shoplifting, employee theft, break-age, misplaced goods, or poor record keeping (DS LAP 2, DS LAP 3, DS LAP 4, DS LAP 6, RM LAP 4)

INVENTORY VALUATION: Appraisal of all the stock that a business has on hand (QS LAP 38)

INVERSE RELATIONSHIP: A relationship between two values in which one value increases when the other decreases (EC LAP 31)

INVERTED PYRAMID: A triangle turned upside down; term used to describe the way the media present facts by starting with the most important points and ending with the least important (PR LAP 10)

INVESTING: Building wealth by using money to make money (QS LAP 30, QS LAP 31)

INVESTMENT: The use of money to generate a profit or gain (Career Opps in Finance, EC LAP 3)

INVESTMENT BANK: A firm that specializes in helping corporations and governments issue securities; also aids in complicated financial matters such as mergers and acquisitions (QS LAP 51)

INVESTMENT BANKER: A person who assists clients with the details and strategy that complicated financial matters (such as mergers and acquisitions and issuing securities) require (QS LAP 51)

INVESTMENT FUND: Pooled money from numerous investors, professionally managed to earn a profit (EC LAP 30)

INVESTOR(S): Those who invest their funds in a business; may be owners or stockholders (EC LAP 106, FI LAP 85, FI LAP 91)

INVESTOR CONFIDENCE: The attitudes of investors toward risk (NF LAP 15)

INVOICE: The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc. (DS LAP 4, DS LAP 5, OP LAP 2)

IPO (INITIAL PUBLIC OFFERING): The introduction of a corporation’s stock to the market (QS LAP 34)

IRON CURTAIN: A term referring to the ideological separation of East and West during the Cold War (EC LAP 104)

IRRATIONAL: Illogical; without clear reason (HR LAP 8)

IRRITABLE/MOODY CUSTOMERS: Customers who may be pleasant one day and touchy or unpredictable the next (CR LAP 9)

ISO: The International Organization for Standardization (OP LAP 189)

ISO 9000: A set of quality-management standards used by millions of organizations worldwide (OP LAP 8, PM LAP 8)

ISSUE LOG: A document that tracks problems or conflicts that have already happened and are currently impacting a project (OP LAP 520)

ISSUER: The corporation or governing body borrowing a bond investor’s money (QS LAP 33)

J

JARGON: Specialized language known only to a certain group of people (EC LAP 45, PD LAP 252, SE LAP 131)

JEOPARDIZE: To risk or put in danger (RM LAP 2)

JOB ANALYSIS: A systematic study of the tasks and responsibilities of a job and its place in an organization (MN LAP 50)

JOB DESCRIPTION: Explanation of responsibilities and tasks associated with a specific job (HR LAP 35, QS LAP 19, SM LAP 4)
The official statement of job duties an employee must perform (EC LAP 71)

JOB-KNOWLEDGE SKILLS: Specialized body of information or knowledge that enables supervisors and managers to do their particular jobs (MN LAP 50)

JOB ORIENTATION: Job preparation or induction training in which new employees are acquainted with their surroundings, receive general information about the company and its policies, and are given specific information about their jobs (EC LAP 18)

JOB POSITION: A worker’s assigned duties and the level of authority that goes with her/his job (EI LAP 36)

JOB ROTATION: An instructional method in which employees are rotated periodically from one job to another to broaden the employees' perspective of the business (EC LAP 7, MN LAP 42, MN LAP 50)

JOB SPECIFICATION: Explanation of the skills, knowledge, and characteristics required for a job (HR LAP 35, SM LAP 4)

JOB SPECIALIZATION: Becoming an expert in a specific work task (EC LAP 103)

JOB TASK: Unit of work assigned to an individual to complete a job (EC LAP 7)

JOINT VENTURE: An arrangement that involves two or more businesses entering into a relationship by combining complementary resources, such as technology, skills, capital, or distribution channels, for the benefit of all parties; the relationship is usually short-term or for a single project/transaction (BL LAP 1, MP LAP 7)
An arrangement that involves two or more businesses entering into a relationship by combining complementary resources, such as technology, skills, capital, or distribution channels, for the benefit of all parties (EC LAP 104)

JOURNAL: A special book or computer program in which a business's transactions are recorded in the order in which they occur (FI LAP 85)

JOURNEYMAN: A skilled union member who has taken courses in an occupational area, has passed an exam, and has been licensed by the state (EC LAP 5)

JUDGMENT SAMPLING: A non-probability sampling method in which researchers handpick respondents based on their knowledge or expertise; also called expert sampling (IM LAP 285)

JUDGMENTAL: Inclined to criticize or form opinions (EI LAP 30)

JUNIOR BOARDS: An instructional method in which a junior board of directors of mid-level managers is formed to discuss any problem that the senior board would discuss (MN LAP 50)

JURISDICTION: The authority to decide how the law applies and to enforce the law (BA LAP 5, BL LAP 163)

JURY OF EXECUTIVE OPINION: A qualitative sales forecasting method that gathers opinions from company executives (IM LAP 4)

JUST CAUSE: Sufficient reason, as supported by evidence, for disciplining an employee (MN LAP 53)

JUST-IN-TIME: An inventory control method that orders goods just in time for them to be used or sold.(DS LAP 3)

JUST-IN-TIME INVENTORY: An inventory method in which goods are ordered so that they arrive when they are needed, rather than being stockpiled (EC LAP 14)

“JUST-LOOKING” CUSTOMER: A type of customer who does not intend to buy at the time, but if treated courteously, often does buy

JUSTICE: Treating others how they deserve to be treated based on an ethical understanding of what is right; keeping people’s unique needs in mind when determining what is fair (BL LAP 163, EI LAP 127)

K

KEYNESIAN THEORY OF UNEMPLOYMENT: A set of ideas that assumes unemployment begins when businesses cut wages and can be controlled by increasing demand and encouraging spending (EC LAP 29)

K.I.S.S. PRINCIPLE: A rule used in e-mail marketing suggesting that e-mails should be short and simple (PR LAP 14)

KNOWLEDGE: The intangible combination of human experiences, insights, and intuitions that provide structure for interpreting and reacting to the world around you (KM LAP 1, KM LAP 2)

KNOWLEDGE BASE: A place for an organization to store and organize its knowledge (usually a database or software program) (KM LAP 1)

KNOWLEDGE GAP: An area or subject you don’t know anything about (EI LAP 137)

KNOWLEDGE LEADER: The person responsible for overseeing an organization’s knowledge-management efforts (KM LAP 1)

KNOWLEDGE MANAGEMENT: The process of creating, identifying, collecting, organizing, sharing, and using knowledge and knowledge sources for the benefit of the organization or business (KM LAP 1, KM LAP 2)

KNOWLEDGE MAP: A tool for knowing what knowledge resides where and for illustrating patterns of knowledge (KM LAP 1)

KNOWLEDGE TEAM: A team of people from a wide cross-section of organizational departments that uses its skills and expertise to assist the knowledge leader in implementing an organization-wide system of knowledge management (KM LAP 1)

L

LABEL: Printed information affixed to a consumer good (PM LAP 7)
A small piece of paper or other material that is attached to an object for the purpose of categorizing or providing information about the object (PM LAP 40)

LABOR: The work people do or the workers themselves (EC LAP 18, EC LAP 31)

LABOR CONTRACT: An agreement between a union and a company outlining the wages, fringe benefits, and rules under which employees will work (EC LAP 5)

LABOR-INTENSIVE PROCESS: A production process that relies heavily on the skills of workers (OP LAP 17)

LABOR UNION: A group of workers who join together to improve the terms and conditions under which employees work (EC LAP 5)

LAGGING INDICATOR: An economic measure that confirms what is already known and does not predict future trends (EC LAP 29)

LAISSEZ-FAIRE LEADERSHIP: A hands-off leadership style in which the leader assumes little or no responsibility, allowing employees to determine their own work behavior and productivity level (HR LAP 493)

LAISSEZ-FAIRE MANAGERS: Managers who assume little or no leadership responsibility, allowing subordinates to determine their own work behavior and productivity level (EI LAP 37)

LANHAM ACT: Federal law that provides trademark protection; specifies proper procedures for registering trademarks (BL LAP 58, PM LAP 14)

LARGE-SCALE GOAL: A medium-sized, long-term goal (PD LAP 16)

LATERAL RELATIONS: The amount of teamwork included in an organizational design (EC LAP 103)

LATERAL THINKING: A process used to solve problems and generate ideas in purposely illogical ways (PM LAP 127)

LAW OF DEMAND: Economic principle which states that the quantity of a good or service that people will buy varies inversely with the price of the good or service (EC LAP 11)

LAW OF DIMINISHING RETURNS: An economic concept that states that if one input increases while others are constant, at some point the increases in output will decline; also referred to as the law of diminishing marginal returns or the law of variable proportions (EC LAP 31)

LAW OF SUPPLY: Economic principle which states that the quantity of a good or service that will be offered for sale varies in direct relation to its price (EC LAP 11)

LAW OF SUPPLY AND DEMAND: Economic principle which states that the supply of a good or service will increase when demand is great and decrease when demand is low (EC LAP 11, PI LAP 3)
A principle that states that high demand/low supply will increase prices and that low demand/high supply will decrease prices (EC LAP 30)

LAW(S): Rules and regulations enforced by the government of a country or community (SE LAP 129)
Rules enforced by the government of a country or community that, if violated, result in penalties (BL LAP 163)

LAYAWAY: A type of sale in which merchandise is removed from the sales floor and held by the business until the customer pays the outstanding balance (EC LAP 13)

LAYOUT: The way in which the elements of an advertisement are arranged (PR LAP 7)

LAYOUT GRIDS: A rectangular design template that specifies the layout of the site (PR LAP 15)

LEAD: The name of an organization or individual that might be interested in a salesperson's good or service (SE LAP 115, SE LAP 116)
The introductory sentence or paragraph in a news release or article that leads into the story (PR LAP 10)

LEAD CLUB: A group composed of noncompeting salespeople who meet to exchange information about prospects (SE LAP 116)

LEAD TIME: Amount of time that passes between placing an order and receiving the stock (DS LAP 2)
The amount of time required by a medium to place an advertisement (PR LAP 5)

LEADER: An individual who provides leadership to achieve goals (QS LAP 10, QS LAP 29)
An individual who influences others to achieve goals (HR LAP 493)
An individual with the ability to guide or direct the actions of others in a desired manner (EI LAP 16, QS LAP 27)
A frequently purchased item priced close to cost to bring customers into a business and to give the impression that all the business's prices are low (PI LAP 1)

LEADERSHIP: The ability to guide or direct the actions of others in a desired manner (EI LAP 16, EI LAP 27, EI LAP 131, HR LAP 10, HR LAP 493, MN LAP 47)

LEADERSHIP SKILLS: The ability to guide or direct the actions of others (Career Opps in BMA, EI LAP 9, EI LAP 240, PD LAP 66, QS LAP 18)

LEADERSHIP STYLE: The way or manner in which a leader goes about the task of influencing others (HR LAP 9)

LEADING ECONOMIC INDICATORS: Statistical measures that signal the likely future movement of the economy; typically rise or fall 3 to 12 months prior to the rest of the economy (EC LAP 9)

LEADING QUESTIONS: Questions that subtly prompt the respondent to answer in a particular way (IM LAP 25)

LEAN PRODUCTION: A quality-control method that focuses on maximizing customer value while minimizing waste; often referred to simply as “lean” (OP LAP 8)

LEARNER-CONTROLLED INSTRUCTION: An on-the-job instructional method in which managers or supervisors are given a competency-based contract to complete at their own pace (MN LAP 50)

LEARNING GOAL: A goal involving mastery of a new skill (PD LAP 16)

LEASE: A contract to use property that belongs to someone else for a specific period of time and for a specific amount of money (EC LAP 3, EC LAP 13)

LEAVE POLICY: A policy that describes how many days of paid and/or unpaid leave employees are entitled to (PD LAP 250)

LEAVE-ME-ALONE CUSTOMERS: Customers who prefer or pretend to prefer to be left alone to find what they want (CR LAP 10)

LECTURE/DISCUSSION: An instructional method in which general information is explained to a group of people at one time (MN LAP 44, SE LAP 123)

LEDGER: The accounting record for a specific department or area of the business (FI LAP 85)

LEGAL: Acceptable under the law (EC LAP 106)

LEGAL RECORDS: Documents containing information relating to or concerned with the law (NF LAP 1)

LEGITIMATE POWER: The ability to influence the behavior of others due to position or role (EI LAP 135)

LENDING INVESTMENTS: Investments in which lenders allow borrowers to use their money during a period of time for a specified fee or rate of interest (FI LAP 77, QS LAP 32, QS LAP 40)

LENGTH: A product-mix dimension referring to the total number of products in the product mix (PM LAP 3)

LESSONS LEARNED: What went well, what didn’t go well, and how to improve in the future during the course of a project (OP LAP 521)

LESSONS-LEARNED DOCUMENT: A project-end summary of what went well, what didn’t go well, and how to improve in the future (OP LAP 158)

LETTER OF AGREEMENT: A short document outlining the terms of an arrangement between two parties; it may be considered legally binding if signed by both parties (PR LAP 175)

LETTER OF INTENT: A document communicating what a person or business intends to do within (or during) a specific time frame (SM LAP 7)

LETTER OF THE LAW: The literal meaning of a law, as it is written, word for word (BL LAP 163, RM LAP 41)

LETTERHEAD: Business stationery imprinted with the firm's name, address, telephone number, fax number, logo, etc. (PR LAP 10)

LEVERAGE: The amount of power one person holds during a negotiation (EI LAP 62)

LIABILITY: A debt, usually money, that the business owes (OP LAP 190)

LIABILITIES: Debts that the business owes (FI LAP 85, IM LAP 184)
Debts (FI LAP 9, FI LAP 10)
Responsibilities of the business, especially legal responsibilities (PM LAP 3, SM LAP 7)
Debts, usually money, owed (QS LAP 38, QS LAP 44)

LIABILITY INSURANCE: A contractual agreement that provides compensation for losses that a person or business is responsible for (EC LAP 3)

LIABILITY WAIVER: A document that a customer signs to release a company from taking responsibility for the inherent risks involved in buying a product or participating in an activity (SE LAP 932)

LIBEL: Writing something untrue that damages a person’s or business’s reputation (SE LAP 129)

LICENSE: A permit to import or export goods and services (EC LAP 4)
A permit that allows a business to operate (PM LAP 7)

LICENSE GRANT: The section of a license agreement that specifies which rights and properties are being licensed, what types of merchandise will be produced, and the exclusivity of the license category (PM LAP 14)

LICENSED MERCHANDISE: Goods that carry the name or logo of a sport organization that the organization has authorized a manufacturer to make and distribute for sale (MK LAP 12)
Goods bearing the name or logo of a sport/event product produced and distributed by an authorized manufacturer (PM LAP 79)

LICENSEE: The buyer of copyrighted, patented, or trademarked material (BL LAP 1, BL LAP 58)
A company that wants to manufacture and sell products using trademarked property (PM LAP 14, PM LAP 139)

LICENSING: Issuing a government permit that allows an individual or a business to function in the marketplace (EC LAP 16)
A business structure that requires the authorization or permission from an owner to another entity to use trademarked, copyrighted (e.g., logo, name), or patented material for a specific activity, during a specific time period, for the profit of both parties (BL LAP 1, EC LAP 104, FI LAP 99, PM LAP 14, PM LAP 17)
An agreement that allows one company to use the trademarked property of another company to manufacture and sell its own products (PM LAP 139)

LICENSOR: The owner of copyrighted, patented, or trademarked material (BL LAP 1, BL LAP 58, PM LAP 14)
An organization or company that holds the rights to trademarked property (PM LAP 139)

LIEN: A legal claim to an item of property which protects the seller if the buyer does not complete his/her payments (FI LAP 2)

LIFE CYCLE: The stages through which goods and services move from the time they are introduced on the market until they are taken off the market (SM LAP 7)

LIFE PHASE: Where you are in life (just out of college, single, married, children, no children, close to retirement, etc.); greatly influences your investment choices (QS LAP 41)

LIFE SKILL: Basic skill necessary to survive (QS LAP 24)

LIFESTYLE: The way in which people lead their daily lives; determined by their attitudes, interests, and activities (EI LAP 36, IM LAP 9)
The way in which people lead their daily lives; determined by their income, interests, and activities (MP LAP 3)
A person’s activities, interests, and opinions (MK LAP 14)

LIMIT ORDER: In investing, a buy or sell order that specifies a price limit at which to execute the trade (QS LAP 47)

LIMITED AUTHORITY: A negotiating strategy in which one person claims that s/he does not have the authority to make a decision and must consult another person who is not present during the negotiation process (EI LAP 62, QS LAP 3)

LIMITED DECISION: A type of decision that requires some consideration (EI LAP 91, PD LAP 17, QS LAP 2)

LIMITED LIABILITY: Restricted chance of loss; a condition in which business owners risk only the amount of their investment (BL LAP 1, BL LAP 6)

LIMITED LIABILITY COMPANY (LLC): A hybrid form of business ownership in which members of a business experience limited liability and taxation. The business entity has a limited life span (BL LAP 6, EC LAP 27)
A form of business ownership in which members of a corporation experience limited liability; there is limited taxation on company income and limited life for the business entity (BL LAP 1)

LIMITED LIABILITY PARTNERSHIP (LLP): A hybrid form of business ownership that is generally used by business professionals for the purpose of protecting innocent partners from the malpractice of the other partners (BL LAP 6)
A form of business ownership that is generally used by business professionals for the purpose of protecting innocent partners from the malpractice of the other partners (BL LAP 1)

LIMITED PARTNERSHIP: A type of partnership agreement in which a partner’s liability is limited to the amount of the investment (BL LAP 6)
A type of partnership agreement in which a partner has limited liability; the liability is limited to the amount of the investment (BL LAP 1)

LIMITED WARRANTY: A warranty that does not contain the provisions of a full warranty; may cover certain repairs or specific parts (PM LAP 4)

LINE AUTHORITY: Formal, direct authority that affects a business’s day-to-day operations (EC LAP 103)

LINE OF COMMAND: See chain of command (EC LAP 103)

LINE TRAINERS: Corporate personnel such as senior sales representatives, field supervisors, or sales managers who are assigned training responsibilities (SE LAP 123)

LINEAR: Straightforward (EI LAP 22)

LIQUIDATE: To convert assets into cash (PM LAP 24)

LIQUIDITY: Ability to be converted into cash (FI LAP 10)
The ability to easily convert your investment back into cash (QS LAP 35, QS LAP 41)

LIQUIDITY RATIO: A class of financial ratios that measures the ability of a company to turn its assets into cash (or to pay its bills) (QS LAP 43)

LIQUIDITY RISK: The possibility of loss due to the inability to access a financial investment (QS LAP 33)

LIST BROKER: A company that prepares prospect lists for a fee (SE LAP 116)

LIST MANAGEMENT SYSTEM: A method used for organizing, handling, and/or supervising information about individuals who deal with a particular business (PR LAP 13, PR LAP 14)

LIST PRICE: A price established by a seller of goods, services, or resources; the price at which products are offered (PU LAP 3)

LITERATE: Able to read and to write (MN LAP 55)

“LITTLE Q”: A focus on making sure that manufacturing processes and end products conform to specifications; a tactical approach to quality management (OP LAP 8)

LOAD: The transaction fee or commission on a mutual fund; may be charged at the time of purchase (front end) or when the fund is sold (back end) (QS LAP 44, QS LAP 48)

LOAD TIME: The amount of time it takes for various components of a web page to appear on a computer screen (PD LAP 3)

LOAN: Money lent to individuals or businesses in exchange for the promise of repayment plus interest (FI LAP 91)
A sum of money lent to a business or an individual for a specific time period that is repayable with interest (EC LAP 71)

LOAN OFFICER/COUNSELOR: A person who specializes in finding clients and helping them to apply for loans, such as commercial, consumer, or mortgage (QS LAP 51)

LOBBYING: A practice in which a person or group attempts to influence lawmakers to pass or block certain legislation (EC LAP 105)

LOCAL LAWS: Laws created by the legislators in cities, towns, counties, and villages, rather than by international, federal, or state lawmakers (BL LAP 163)

LOCAL UNION: The lowest level of union organization; dues are paid to local unions (EC LAP 5)

LOCKOUT: A company strategy in which the business is closed, and the employees are not allowed to work (BL LAP 58, EC LAP 5)

LODGING: A career area in which employees are in charge of making sure guests are comfortable and satisfied (Career Opps in Hosp)

LOG FILES: Files that provide information about the activities of web-site visitors (PM LAP 9)

LOGIC: An objective, or neutral, way to make sense of the facts by considering some facts more important than others (PD LAP 17, QS LAP 2, QS LAP 29)

LOGICAL: Using reason in an orderly way (QS LAP 10)

LOGISTICS: Refers to managing the flow of goods and services from production to consumption (OP LAP 189)
The coordination of how a venture will come to life (e.g., work space, materials, technology, etc.) (EN LAP 38)

LOGO: A distinctive symbol, design, or group of letters (CR LAP 6, MK LAP 12, PM LAP 14, PM LAP 20) The name and/or symbol used by a business; also called signature (PM LAP 139)

LOGOTYPE: The name and/or symbol used by a business; also called signature (PR LAP 7)

LONG PRODUCT MIX: A description of the length of a business’s product mix offering many products in its product lines (PM LAP 3)

LONG-RANGE FORECASTING: Sales forecasting that predicts sales for periods of more than two years; used when making strategic plans to develop new products, enter new markets, build new facilities, etc. (MP LAP 5)

LONG-TERM BUDGET: A budget that covers a time period of more than a year (usually three years) (FI LAP 99)

LONG-TERM FORECAST: A sales forecast for a period longer than five years (IM LAP 3, IM LAP 4)

LONG-TERM GOALS: Objectives that will take a year or more to reach (PD LAP 16)

LONG-TERM LIABILITIES: Debts that will take longer than a year to pay (FI LAP 10)
Debts that will take longer than a year to pay, e.g., a mortgage (QS LAP 38)

LONG-TERM ORIENTED SOCIETY: A society in which people focus on future rewards and value actions such as persistence and saving money; typically associated with Eastern cultures (EC LAP 45)

LONG-TERM TIME HORIZON: An investing timeframe of at least 10 to 15 years (QS LAP 41)

LOOPHOLE: A technicality (e.g. a tax loophole that allows an individual or business to pay less than it really owes)
An ambiguity in a law that allows people or businesses to avoid its consequences (OP LAP 190)

LOSE-LOSE: A negotiation outcome in which both people do not receive what they want; often a result when using the avoidance negotiating style (EI LAP 62)

LOSE-WIN: A negotiation outcome in which one person gives up or accommodates the other person with the hope of gaining something in a future negotiation; often a result when using the accommodating negotiation style (EI LAP 62)

LOSS AVERSION: The tendency to avoid a loss at all costs, even when attempting to avoid that loss can lead to consequences (FI LAP 355)

LOSS PREVENTION: A function of risk management that focuses on planning and security procedures to avoid theft or injury

LOW-CONTEXT CULTURE: A culture that relies more on verbal communication than on nonverbal communication (EC LAP 45)

LOWER ORDER NEED: A basic need that an individual addresses before anything else, such as food, clothing, or shelter (MK LAP 14)

LOYALTY: Faithfulness and devotion to a person or an ideal (EI LAP 9, EI LAP 138, QS LAP 8)
Faithfulness and devotion to a person, ideal, or company (EI LAP 128)

LUCRATIVE: Profitable (BL LAP 58)

M

MACROMEDIA DREAMWEAVER: A web-development program produced by Macromedia, Inc (PR LAP 15)

MAGNITUDE: The size or extent of something (EI LAP 91)

MAGNUSON-MOSS WARRANTY ACT: A federal law passed in 1975 to set guidelines for warranties, require them to be easy for consumers to understand, and to require businesses to make it as easy as possible for consumers to use the warranties (PP LAP 7)
A federal law which provides guidelines to businesses that offer warranties and guarantees with their products and protects consumers who buy those products
A federal law passed in 1975 to set guidelines for warranties and to require businesses to provide more and better warranty information that is easy for consumers to understand (PM LAP 7)

MAJORITY RULE: A decision-making method in which a group’s majority makes the decision (EI LAP 19, QS LAP 17)

MAIL RELAYING: The process of using another business’s mail server to hide the identity of the sender of e-mail messages (BA LAP 4)

MAINTENANCE MARGIN: A minimum financial requirement for the privilege of using borrowed funds to trade investments (QS LAP 49)

MAKE-OR-BUY DECISION: The act of determining whether to produce a needed part or purchase it from a supplier (OP LAP 2)

MALFUNCTION: A failure to perform properly (PM LAP 4)

MALPRACTICE INSURANCE: A type of insurance that provides financial protection for physicians and other health-care providers in the event of a lawsuit (PP LAP 7)

MANAGEMENT: The process of coordinating resources to accomplish an organization's goals (Career Opps in BMA, HR LAP 493, SM LAP 7)
The process of coordinating resources to accomplish an organization’s goals (SM LAP 3)

MANAGEMENT ACCOUNTANT: A person who prepares, analyzes, and verifies financial data for corporations or other organizations, with an emphasis on budgeting, asset management, and preparing reports for public disclosure; often part of high-level teams responsible for making important business decisions (QS LAP 51)

MANAGEMENT FUNCTION: Groups of activities related to management (i.e., planning, organizing, staffing, directing, and controlling) (SM LAP 3)

MANAGEMENT GAMES: An instructional method in which teams are provided information about the operation of a firm and are presented with a problem or uncertainty requiring decision-making (MN LAP 50)

MANAGEMENT INFORMATION SYSTEM (MIS): An integrated technology that assists with an organization’s information management needs (NF LAP 110)

MANAGEMENT STYLE: How an individual approaches the task of supervising (EI LAP 37)

MANAGER: Individual whose job involves carrying out management functions (Career Opps in BMA, SM LAP 3)
Individual whose job involves planning, organizing, staffing, directing, and controlling for a business (EC LAP 71)
An individual responsible for the coordination of resources in order to accomplish an organization’s goals (PD LAP 66)

MANAGERIAL ACCOUNTING: A type of accounting that involves preparing and reporting financial data to internal users, usually managers, who need financial information to control day-to-day operations and to make financial decisions and plans affecting the business (FI LAP 85, FI LAP 351)

MANAGERIAL FEE: The charge for managing a mutual fund (QS LAP 44)

MANIPULATE: To control others for your own advantage (EI LAP 18)
Control (IM LAP 17)

MANUAL DEXTERITY: Skill in using your hands (HR LAP 2)

MANUAL INVENTORY CONTROL SYSTEM: Counting and recording inventory by hand (DS LAP 2)

MANUAL UNIT CONTROL: Controlling inventory by gathering and recording inventory information by hand (DS LAP 3)

MANUFACTURER: A type of producer that changes the shapes or forms of materials so that they will be useful to customers (EC LAP 13, EC LAP 70, FI LAP 106, OP LAP 2, SE LAP 117)

MANUFACTURER’S BRAND: Brand for which the manufacturer assumes all the responsibility of branding (PM LAP 6)

MANUFACTURER'S PREPACK: Products packed for consumers at the production or manufacturing location. Such packages are usually enclosed in transparent plastic (men's underwear, for example) or boxed with pictures of the product on the packing box (electric mixer, for example) (SE LAP 105)

MANUFACTURING: Changing the shapes or forms of materials so that they will be useful to consumers (EC LAP 71)

MARGIN: In investing, borrowed money used for maximizing profit potential (QS LAP 49)

MARGINAL COST: The change in cost that occurs when there is a change in output (EC LAP 31)

MARGINAL PRODUCT: The additional output that occurs with each additional input (EC LAP 31)

MARGINAL REVENUE: The change in total revenue that occurs when one more unit of output is sold (EC LAP 31)

MARK: A shorthand reference to any type of mark, including trademarks, service marks, and collective marks (PM LAP 14)

MARKDOWNS: Reductions in the selling price of goods (DS LAP 2, DS LAP 4)

MARKET: A customer or a potential customer who has an unfulfilled desire and is financially able and willing to satisfy that desire (MN LAP 43, MP LAP 3, PI LAP 2)
Any circumstance under which buyers and sellers exchange goods or services for a price (EC LAP 12)

MARKET ANALYSIS: A systematic study of the market (EN LAP 38, MK LAP 1, SM LAP 7, SM LAP 13)

MARKET CAPITALIZATION: An indicator of the size of a public company, as measured by the total dollar value of its stock; calculated by multiplying share price by number of outstanding shares; companies are often categorized as small cap, mid cap, or large cap, though the specific dollar categories vary by source (QS LAP 34, QS LAP 42, QS LAP 44)

MARKET-CLEARING PRICE: Equilibrium price (EC LAP 12)

MARKET CONDITIONS: Features of the current marketplace (e.g., interest rates, level of competition, employment rates, etc.) (MP LAP 5)

MARKET DEMAND: The quantity of a good or service that buyers are ready to purchase at a given price at a particular time (PI LAP 47)

MARKET ECONOMY: An economic system in which the questions of what, how, and for whom goods will be produced are answered by individuals and businesses in the marketplace (EC LAP 15, EC LAP 17, EC LAP 27)

MARKET EXIT STRATEGY: A marketing strategy a company uses when taking a product off the market (MP LAP 7)

MARKET MAKER: In investing, a broker or firm that trades a specific stock on a regular basis (QS LAP 47)

MARKET ORDER: In investing, a buy or sell order to be executed immediately at the best available price (QS LAP 47)

MARKET PLANNING: A marketing function that involves creating strategies to attract the customer to a business, including setting goals, selecting target markets, creating budgets, forecasting sales, and performing analyses (MK LAP 1)

MARKET POSITION: The rank of a particular business in a specific market (MP LAP 7, SM LAP 7, SM LAP 13)

MARKET PRICE: Actual price that prevails in a market at any particular moment (EC LAP 12, PI LAP 3)

MARKET PSYCHOLOGY: The overall attitude toward a financial market at any given time (EC LAP 30)

MARKET RESEARCH: The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern, and the use of that data to create and implement plans to reach new target audiences (PM LAP 16)
The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern that affects a market (CM LAP 2, EC LAP 10, PM LAP 17)

MARKET RESEARCH & DEVELOPMENT: The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern, and the use of that data to create and implement plans to reach new target audiences (PD LAP 51)

MARKET SATURATION: A state that occurs when a product has been distributed throughout the population and the only chance for increased sales comes with population growth or a shift in market share (PM LAP 24)

MARKET SEGMENT: One of the groups into which the total market is divided (IM LAP 184, IM LAP 12, MP LAP 3)
A group of people who share the same characteristic(s) (e.g., age, nationality, gender) (MP LAP 5)

MARKET SEGMENTATION: The division of a total market into smaller, more specific groups (MP LAP 3, PI LAP 47)

MARKET SHARE: An organization’s portion of the total industry sales in a specific market (EC LAP 104, FI LAP 11, IM LAP 2, IM LAP 10, IM LAP 184, IM LAP 12, MK LAP 19, MP LAP 7, PI LAP 2, PI LAP 3, PM LAP 6, PR LAP 9)

MARKET SHARE ANALYSIS: A breakdown of market share data that allows a company to measure its sales performance against that of its competitors (IM LAP 184)

MARKET STRUCTURE: The type of market, or environment, in which businesses operate (EC LAP 8)

MARKET TIMER: An investor who uses the “buy low and sell high” trading strategy; also known as trader (QS LAP 49)

MARKET TIMING: A form of the “buy low and sell high” trading strategy, in which investors purchase securities at low prices and sell them at high prices to profit from the difference (QS LAP 49)

MARKET TREND: The direction in which a product’s market is moving (IM LAP 3)

MARKET VALUE: In investing, the economic viewpoint that a stock is worth whatever people are willing to pay for it; also sometimes used as a synonym for market capitalization (QS LAP 42)

MARKETABLE BONDS: Bonds that can be bought and sold in the open market (QS LAP 33)

MARKETING: An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relations in ways that benefit the organization and its stakeholders (CD LAP 2, PD LAP 15, PI LAP 2, SM LAP 7)
The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives (EC LAP 13)
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Career Opps in Marketing, MK LAP 1, MK LAP 4)
The process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (EC LAP 71)

MARKETING CAMPAIGN: A business’s organized efforts to promote a certain product or line of products (NF LAP 15)

MARKETING COMMUNICATIONS: A career area in which employees focus on marketing activities that inform, remind, and/or persuade the targeted audience of ideas, experiences, goods/services, and/or images (PD LAP 15)

MARKETING CONCEPT: A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying customer wants and needs while achieving company goals (EC LAP 13, IM LAP 7, IM LAP 9, MK LAP 4, MN LAP 43, MP LAP 2, PD LAP 15)

MARKETING FUNCTIONS: Interrelated activities that must work together to get goods and services from producers to consumers (CD LAP 2, MK LAP 1)

MARKETING INFORMATION: Data available from inside and outside the business that have been processed and organized so that they can be used to create, communicate, and deliver value to customers and for managing customer relations in ways that benefit the organization and its stakeholders (IM LAP 2, IM LAP 25)
All the marketing-related data available from inside and outside the business (CM LAP 2)

MARKETING-INFORMATION MANAGEMENT: A marketing function that involves gathering, accessing, synthesizing, evaluating, and disseminating information to aid in business decisions (BA LAP 3, MK LAP 1)
A marketing function that involves gathering, accessing, synthesizing, evaluating, and disseminating information (IM LAP 2)
A function that involves gathering, accessing, synthesizing, evaluating, and disseminating information related to marketing (IM LAP 25)

MARKETING-INFORMATION MANAGEMENT SYSTEM (MkIS): An organized way of continuously gathering, sorting, analyzing, evaluating, and distributing marketing information (IM LAP 2, IM LAP 10)

MARKETING-INTELLIGENCE SYSTEM: A way of gathering existing marketing data informally from internal and external sources (IM LAP 2)

MARKETING MANAGEMENT: A career area in which employees focus on all marketing functions, including channel management, marketing-information management, pricing, product/service management, promotion, and selling (Career Opps in Marketing, PD LAP 15)

MARKETING MIX: The combination of the four elements of marketing--product, place, promotion, and price (IM LAP 7, MN LAP 43, MP LAP 2, PI LAP 2, PR LAP 2)

MARKETING OBJECTIVES: The goals a firm seeks to reach with its marketing plan (PR LAP 8)
The goals a firm seeks to achieve with its marketing plan (MP LAP 7)

MARKETING OPERATIONS: A career in which employees focus on the science of marketing, including strategic planning and budgeting, project management, process development, analyzing data, etc. (Career Opps in Marketing)

MARKETING ORIENTATION: A strong focus on meeting customer needs and wants (EC LAP 107)

MARKETING PLAN: A set of procedures or strategies for attracting the target customer to a business (MK LAP 1, MP LAP 7, SM LAP 7)

MARKETING RESEARCH: The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern that affects a market (IM LAP 25, NF LAP 15, PM LAP 1)
The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern (EC LAP 13, IM LAP 2, IM LAP 10, IM LAP 9, IM LAP 281, IM LAP 282, IM LAP 284, PI LAP 2)
A career that involves the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services (Career Opps in Marketing, CD LAP 2, PD LAP 15)

MARKETING-RESEARCH DESIGN: The master plan for conducting marketing research; lays out the types of data needed, how much data to collect, what collection methods to use, and how data will be analyzed (IM LAP 284)

MARKETING STRATEGY: Plan of action for achieving marketing goals and objectives (IM LAP 3, MP LAP 7, PD LAP 2, PM LAP 17)

MARKETPLACE: Anywhere the buying and/or selling of goods and services takes place (EC LAP 15)

MARKETS: Arrangements for the buying and selling of goods and services (EC LAP 3, EC LAP 17)

MARKING: The step in the receiving process in which prices are added to goods (DS LAP 5)

MARKUP: The difference between the cost of a product and its selling price (DS LAP 4, PI LAP 3)

“MASCULINE” SOCIETY: A culture that values “masculine” qualities, such as assertiveness and status (EC LAP 45)

MASKING TAPE: Paper tape with adhesive on one side (RM LAP 2)

MASLOW'S HIERARCHY OF NEEDS: A content theory of motivation in which needs are arranged in five levels: physiological, safety/security, social, esteem/status, and self-fulfillment (MN LAP 47)
A motivational theory that categorizes human needs into levels that help explain how and why people are motivated (EI LAP 59)

MASS AUDIENCE: All of the readers or viewers reached by a media channel, e.g., all individuals who watch a news program (PR LAP 8)

MASS MARKETING: Designing products and directing marketing activities to appeal to the whole market; also known as undifferentiated marketing (MP LAP 3)

MASS MEDIA: Sources of information that reach large audiences; television, books, magazines, newspapers, radio, movies, and the Internet (MP LAP 5)

MASS PRODUCTION: The rapid production of large quantities of a product (EC LAP 7, EC LAP 18, OP LAP 17)

MASTER: A skilled union member who has worked as a journeyman and who is a team leader for other employees in the same occupation (EC LAP 5)

MASTER BUDGET: The overall budget of a company, made up of information from specialized budgets that are generated by individual departments (FI LAP 99, FI LAP 106)

MASTER LICENSEE: A person or firm who helps franchisors find franchisees in a particular region or territory (BL LAP 1)

MATERIAL RESOURCES: Equipment and supplies used by businesses in their operation (SM LAP 3)

MATERIALS: Industrial goods that become part of the finished product after they have been processed (EC LAP 10)

MATERIALS INVENTORY: Stock used by a business in the production of other goods (DS LAP 2)

MATRIX STRUCTURE: An organizational design that combines the traditional functional structure with the divisional structure (EC LAP 103, SM LAP 64)

MATURE ATTITUDE: Outlook of people who have confidence and self-respect but also have a high regard for the feelings and opinions of others (HR LAP 9)

MATURITY: The ability to respond to your environment in an appropriate manner (EI LAP 75)

MATURITY DATE: The date a bond is to be repaid (QS LAP 33)
The date on which a debt or obligation must be repaid (EC LAP 30)

MATURITY STAGE: The product life cycle stage in which sales peak and then increase at a slower rate or start to decline (PI LAP 3, PM LAP 17, PM LAP 24, PR LAP 1)

MAXIMUM STOCK: The largest amount of goods that a business keeps on hand (DS LAP 3)

McCLELLAND'S POWER-AFFILIATION-ACHIEVEMENT THEORY: A content theory of motivation that identifies three socially acquired needs which underlie behavior: achievement, affiliation, and power (MN LAP 47)

MEANS OF PRODUCTION: All the resources required in the production of goods and services (EC LAP 17)

MEASURABLE GOAL: A goal that can be counted or measured in some way (QS LAP 22)

MEDIA: The message channels used by a seller to promote a good, service, or idea: e.g., radio, television, newspapers, magazines, Internet (CD LAP 2, IM LAP 7, IM LAP 9, MP LAP 2, PR LAP 1, PR LAP 8)
The message channels used to promote a good, service, or idea (e.g., radio, television, newspapers, magazines, Internet, social media); one of several sport/event fan bases (MK LAP 12, PR LAP 136)

MEDIA BUZZ: Attention from a variety of media sources (PR LAP 136)

MEDIA CHANNEL: An individual medium used to transmit a message to the public, e.g., radio (PR LAP 8)

MEDIA EVENTS: Marketing activities that use the media to spread the company’s message (PD LAP 2)

MEDIA PLAN: A written document that summarizes the factors relevant to media selection, i.e., business objectives, target market, competitive activities, advertising budget, nature of the product, and distribution (PR LAP 5)

MEDIA RELATED FACTORS: Factors unique to a medium that affect a business and its advertising activities (PR LAP 5)

MEDIATION: The process in which a neutral third person works to help opposing parties resolve a conflict (EC LAP 5) The process in which a neutral, third person works to help two opposing parties resolve a conflict (EI LAP 7)

MEDIATOR: A person or agency that clarifies issues and makes suggestions concerning contract negotiations (BA LAP 5, EC LAP 5)

MEDICAID: Low-income healthcare in the United States (EC LAP 27, EC LAP 29)

MEDICARE: Government-supplied health care for seniors in the United States (EC LAP 27)

MEDITATION: Spending time in quiet, calm thought (EI LAP 25)

MEDIUM: The message channel used by a seller to promote a good, service, or idea, e.g., radio, television, newspapers, magazines (PI LAP 2)

MEDIUM OF EXCHANGE: Something of value that can be used to obtain goods and services; most common form is money (EC LAP 17)

MEMBERSHIP GROUP: A social group to which a person belongs (e.g., school, church, neighborhood, and friendship groups) (MK LAP 14)

MEMORABILIA: Souvenirs, mementos, things collected to remember something (MK LAP 12)

MENSWEAR RETAILERS OF AMERICA: An organization composed of retailers of men's and boys' clothing and furnishings. Address: 2011 I Street, N.W., Suite 300, Washington, D.C. 20006 (CD LAP 1)

MENTAL ABILITY: An individual’s ability to learn and think (EI LAP 36)

MENTAL TRAITS: Personal traits associated with intellectual abilities such as remembering, comprehending, analyzing, evaluating, and creating (EI LAP 9)

MENTOR: An experienced worker who can act as a guide to new employees (EI LAP 4, MN LAP 44)

MENTOR METHOD: An instructional method in which an experienced worker is assigned to assist a new employee during his/her first weeks of employment (MN LAP 44)

MENU COST: The expenses involved in changing prices (EC LAP 28)

MERCHANDISE APPROACH: A comment or question that helps direct the customer’s attention to the merchandise; usually refers to goods on display in which the customer seems to be showing an interest (SE LAP 101)

MERCHANDISE CLASSIFICATION: The categories into which products are divided, e.g., color, style number, or size (DS LAP 2)

MERCHANDISE CONTROL CARDS: Automatic reorder cards that some producers pack with their goods (DS LAP 3)

MERCHANDISE INVENTORY: Stock that wholesalers and retailers have on hand (DS LAP 2)

MERCHANDISING: The process of having the right goods in the right place at the right time in order to make a profit (PD LAP 15)

MERCHANDISING ALLOWANCE: A price reduction offered to intermediaries; often used to entice intermediaries to purchase a particular product or to reimburse intermediaries for their marketing costs (PR LAP 1)

MERCHANDISING/BUYING: A career involving the selection of products so that the right goods are in the right place at the right time to make a profit (Career Opps in Marketing)

MERCHANDISING-RELATED DISCOUNT: A deduction from the seller’s price offered to buyers at various points in the distribution channel (PU LAP 3)

MERGER: Two individual businesses that combine to form one organization (BL LAP 1, BL LAP 6, EC LAP 71, EN LAP 38, FI LAP 355)

MESSAGE: Ideas or information transmitted to others through written or oral communication (PR LAP 8)

MESSAGE BOARDS: A gathering place for transmitting ideas or information through electronic communication (PR LAP 16)

META TAGS: HTML codes that display information about web pages (BA LAP 5, PM LAP 9, PR LAP 16)

METAPHOR: A figure of speech in which one idea, concept, or entity is compared to or used in place of another (PM LAP 127)

METEOROLOGIST: Expert weather forecaster (QS LAP 49)

METHODOLOGY: A set of principles or guidelines (QM LAP 1)

METROPOLITAN AREA: A city and the area immediately surrounding it, including all its suburbs (PR LAP 8)

MID-LEVEL MANAGEMENT: Managers who report to top-level management and who have supervisors who report to them (SM LAP 3)

MIDDLE MANAGEMENT: Mid-level management (SM LAP 3)

MIDDLEMEN: See intermediaries (CM LAP 2, CM LAP 3)

MIGRATE: To move from one country of residence to another (IM LAP 9)

MIND MAPPING: A form of brainstorming that organizes ideas and information graphically, using shapes, pictures, and words; a creative-thinking technique that involves the generation of ideas by association (PD LAP 77, PM LAP 127, QS LAP 26)

MINDFULLNESS: The state of being aware of the moment you are in, including your thoughts, feelings, and actions (EI LAP 92)

MINIMUM STOCK: The smallest amount of goods that a business keeps on hand (DS LAP 3)

MINOR-POINTS CLOSE: A closing technique that involves getting the customer to make minor decisions about a purchase before asking for the major decision of whether to buy or not; also known as stimulus-response close (SE LAP 895)

MINORITY: Any group within a country that is smaller than the majority; often used to refer to groups based on race, religion, or culture (MN LAP 55)

MINORITY RULE: A decision-making method in which a group’s minority makes the decision (EI LAP 19, QS LAP 17)

MISINTERPRET: Not to understand something as it was intended to be understood (QS LAP 24)

MISREPRESENTATION: Telling the facts in an inaccurate way (SE LAP 129)

MISSION (STATEMENT): A brief summary of what a business owner wants a business to be doing (EC LAP 71, MP LAP 7, PD LAP 251, PM LAP 10, QS LAP 12, SM LAP 13)
A statement dealing with the now and how—what an individual or organization is doing right now, and how it is helping them achieve their long-term vision (EI LAP 63)
The business or organization’s purpose for existing (SM LAP 4)

MITIGATION: A risk-response strategy that involves reducing or controlling the impact of a risk if it occurs (OP LAP 1, SM LAP 75)

MIXED COSTS: Expenses that are fixed until the company reaches a certain level of production, then become variable; also called semi-variable costs or semi-fixed costs (OP LAP 9)

MIXED SYSTEM: An economic system in which individuals make most economic decisions but some government control and ownership exist (EC LAP 15)

MODEL STOCK PLAN: A list of items the business always keeps in stock (DS LAP 3)

MODELING: Demonstrating or displaying certain behaviors, attitudes, etc. to other people; a process by which people learn by observing and imitating the behavior of others (EI LAP 132)

MODEM: An internal or external computer communications device that is used to transmit information over a particular medium such as telephone lines or television cables (PR LAP 14)

MODERATE INVESTOR: An investor who is willing to tolerate some risk, but not high risk (QS LAP 41)

MONETARY POLICY: The government policy that determines the amount of money that will be in circulation and the level of interest rates (EC LAP 9, EC LAP 16, NF LAP 15)

MONEY MARKET ACCOUNTS: Lending investments in which individuals lend a minimum amount of money to a bank to earn interest (FI LAP 77, QS LAP 32, QS LAP 40)

MONEY MARKET FUND: A pool of shareholders' money invested in securities that earn relatively higher rates of return over the short-term; also called a money fund (QS LAP 35)

MONEY SUPPLY: The total quantity of money that exists at one time in the nation (EC LAP 9)
The total amount of money circulating in an economy (EC LAP 28)

MONITOR: To check on the progress of something periodically (OP LAP 520, QS LAP 28)

MONOPOLISTIC COMPETITION: A type of market structure in which a lot of businesses sell similar products that have only a few differences (EC LAP 8, PI LAP 3)

MONOPOLY: A type of market structure in which a market is controlled by one supplier, and there are no substitute goods or services readily available (BL LAP 58, EC LAP 8, SE LAP 129)
A condition in which a market is controlled by one supplier with no substitute goods or services readily available (EC LAP 16)

MONOTONE: A single tone of voice without variation in pitch (HR LAP 20)

MOOD: A person’s current attitude or frame of mind (SE LAP 112)

MORALE: The state of a person's attitude or outlook on life that affects his/her approach to work (DS LAP 2, EI LAP 15, EI LAP 133, EI LAP 141, OP LAP 190, SM LAP 4)

MORALS: See Ethics (HR LAP 19)
Principles for distinguishing between right and wrong (EI LAP 126, QS LAP 8)

MORPHOLOGICAL ANALYSIS: A creative-thinking method to generate ideas by focusing on the details of a situation; involves combining some or all of a product’s attributes in different ways to create new things (PM LAP 127)

MOTIVATE: Prompt another person to take some kind of action (EI LAP 121, HR LAP 20, QS LAP 10, QS LAP 18)

MOTIVATION: The process of getting employees to strive to achieve management's objectives because they want to achieve them (MN LAP 47, MN LAP 54)
Anything that drives a person to pursue a certain outcome (EI LAP 59, EI LAP 133)

MOTIVATOR: Force or influence that prompts a person to take some kind of action (EI LAP 141)

MOTOR COORDINATION: The harmonious use of muscles to accomplish a task (HR LAP 2)

MOVIE THEATER ADVERTISING: Promotional messages shown prior to the screening of a film in a movie theater; also includes posters, stand-ups, and other advertisements present in a movie theater lobby (PR LAP 3)

MR = MC RULE: A rule that states that when marginal revenue equals marginal cost, maximum profit is achieved (EC LAP 31)

MULTI-LEVEL MARKETING: A business structure that pays commission on sales earned by people at two or more levels; the sales representatives usually work independent of the company; the representatives not only sell products but try to get others to sell them (BL LAP 1)

MULTINATIONAL FIRM: A company that operates on a worldwide scale (EC LAP 104)

MULTIPLE: Another name for the price-earnings financial ratio (QS LAP 42)

MULTI-STAGE SAMPLING: A sample design that uses a combination of different sampling methods(IM LAP 285)

MULTIPLE DISTRIBUTION: Distributing a product through many different channels (CM LAP 2)

MULTIRACIAL: Having ancestors from two or more races; sometimes called biracial (EI LAP 36)

MUNICIPAL BONDS: Bonds issued by a local municipality, such as a state, city, or county (QS LAP 33)

MUTUAL FUND: A pool of shareholders' money invested by professional managers in an assortment of different securities (QS LAP 35)

MUTUAL FUND MANAGER: The person in charge of a pool of shareholders’ money invested in an assortment of different securities (QS LAP 40)
A person who trades the individual securities within a mutual fund and makes decisions that will cause the fund to grow and increase in value (QS LAP 51)

N

NARRATIVE CLOSE: A closing technique in which the salesperson tells a story about other people who successfully made a buying decision and how the product solved their problem (SE LAP 895)

NARROW PRODUCT MIX: A description of the width of a business's product mix offering a limited number of product lines (PM LAP 3)

NATIONAL ASSOCIATION OF PROFESSIONAL INSURANCE AGENTS: An organization whose members are independent property and casualty agents. Address: 400 N. Washington Street, Alexandria, VA 22314 (CD LAP 1)

NATIONAL ASSOCIATION OF SECURITIES DEALERS (NASD): Private-sector (not affiliated with the government) regulator of the United States securities industry; licenses individuals and firms (QS LAP 48)

NATIONAL AUTOMOBILE DEALERS ASSOCIATION: An organization whose members are franchised new car and truck dealers. Address: 8400 Westpark Drive, McLean, VA 22102 (CD LAP 1)

NATIONAL DEBT: The total amount of money that the federal government has borrowed (EC LAP 27)

NATIONAL FARM AND POWER EQUIPMENT DEALERS ASSOCIATION: An organization composed of retailers of farm machinery and lawn and garden equipment. Address: 10877 Watson Road, St. Louis, MO 63127 (CD LAP 1)

NATIONAL FEDERATION OF INDEPENDENT BUSINESS: An organization composed of independent businesspeople and professional people that works to give small business a voice in government. Address: 150 W. 20th Avenue, San Mateo, CA 94403 (CD LAP 1)

NATIONAL GROCERS ASSOCIATION: An organization composed of independent food retailers and wholesale food distributors. Address: 1825 Samuel Morse Drive, Reston, VA 22090 (CD LAP 1)

NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION: The federal agency created to administer laws that regulate the safety of both new and used tires and motor vehicles (PM LAP 7)

NATIONAL HIGHWAY TRAFFIC SAFETY ACT: A federal law passed in 1958 to provide the basis for setting safety standards for motor vehicles and tires (PM LAP 7)

NATIONAL HOME FURNISHINGS ASSOCIATION: An organization whose members are retailers of furniture, carpeting, and related furnishings. Address: P.O. Box 2396, High Point, NC 27261 (CD LAP 1)

NATIONAL LABOR RELATIONS ACT: Legislation passed by Congress in 1935; gives all workers the right to organize into unions to collectively bargain and strike (BL LAP 58)

NATIONAL OFFICE PRODUCTS ASSOCIATION: An organization whose members are retailers, wholesalers, and manufacturers' representatives of office furniture and supplies. Address: 301 N. Fairfax Street, Alexandria, VA 22314 (CD LAP 1)

NATIONAL RESTAURANT ASSOCIATION: An organization whose members operate restaurants, cafeterias, clubs, drive-ins, etc. Address: 1200 17th Street, N.W., Washington, D.C. 20036 (CD LAP 1)

NATIONAL RETAIL FEDERATION: An organization whose members operate department, chain, mass merchandise, and specialty stores. Address: 100 W. 31st Street, New York, NY 10001 (CD LAP 1)

NATIONAL TRAFFIC AND SAFETY ACT: A federal law passed in 1958 to provide the basis for setting safety standards for motor vehicles and tires (PP LAP 7)

NATIONAL/INTERNATIONAL UNION: A level of union organization that consists of a number of local unions (EC LAP 5)

NATIONALISM: A sense of pride in one’s own country that can create a resistance to outside influences (EC LAP 104)

NATURAL MONOPOLY: A single business that influences the entire production of a particular good or service because it is in the best interests of the public for the business to do so (EC LAP 16)

NATURAL RESOURCES: Any resources found in nature that are used to produce goods and services (EC LAP 7, SE LAP 117)
Items that are found in nature and used to produce goods and services (EC LAP 15, EC LAP 17, OP LAP 17)
Items found in nature that are used to produce goods and services (EC LAP 6, EC LAP 14)

NAVIGATE: Travel from site to site on the World Wide Web (PD LAP 3)

NEED: Something required or essential that is lacking (CR LAP 4, EC LAP 13, EI LAP 18, QS LAP 4, SE LAP 112, SE LAP 114, SE LAP 117, SE LAP 874, SE LAP 883)
Something required or essential which is lacking (SE LAP 48, SE LAP 374)
Something that is required (MK LAP 14)

NEED DECISION: The point at which the customer decides that s/he needs to purchase a good or service that may satisfy a need or a want (SE LAP 108)

NEEDS: Basic purchases that are essential for survival (QS LAP 30, QS LAP 31)

NEEDS ANALYSIS: A process of identifying and prioritizing training needs (SE LAP 123)

NEEDS ASSESSMENT: A process of identifying and prioritizing training and development needs (MN LAP 50)

NEGATIVE ATTITUDE: An outlook that focuses on the bad side of things (EI LAP 3)

NEGATIVE FEEDBACK: Criticism or disapproval (EI LAP 15, QS LAP 20)

NEGATIVE REINFORCEMENT: The act of terminating or withdrawing something unpleasant when a desired response is given (MN LAP 47)

NEGATIVE RETURNS: Marginal product of below zero; occurs during stage three of production, when total product declines (EC LAP 31)

NEGATIVE SELF-CONCEPT: An unfavorable image of one's self (HR LAP 12)

NEGLIGENCE: Not doing something necessary or required (SE LAP 129)

NEGOTIATING: A conflict response mode in which one or both parties exhibit assertive behavior and express a moderate or high level of cooperation (EI LAP 7)

NEGOTIATING STRATEGY: The plan or technique a person uses to reach a goal or achieve a desired outcome (EI LAP 62, QS LAP 3)

NEGOTIATING STYLE: Personal characteristics that influence the manner in which a person behaves during the negotiation process (EI LAP 62, QS LAP 3)

NEGOTIATION: The process of one person reaching an agreement with another person to meet specific needs or wants (Career Opps in BMA, EI LAP 33, OP LAP 2, QS LAP 3)
The process of one party reaching an agreement with another party to meet specific needs or wants; the process of persuading or influencing someone to take a certain course of action in order to achieve a desired outcome (EI LAP 62, QS LAP 10, QS LAP 18)
The process of one party reaching an agreement with another party to meet specific needs or wants (EC LAP 45, SM LAP 4)
A method of settling a dispute or agreeing to common terms in which one or both parties may compromise (EI LAP 1)

NEPOTISM: The practice of using one’s power or influence to benefit one’s friends or relatives (EN LAP 44)

NET ASSET VALUE (NAV): The total value of a fund's investment portfolio, minus its liabilities, divided by the number of its outstanding shares (QS LAP 35, QS LAP 44)

NET CHANGE: The difference between a stock's closing price and the previous day's price (QS LAP 37)

NET EXPORTS OF GOODS AND SERVICES: A factor used in the calculation of GDP that is determined by subtracting imports from exports (EC LAP 1)

NET INCOME: Money remaining after operating expenses are subtracted from gross profit (OP LAP 189)

NET INCOME/PROFIT: Money remaining after operating expenses are subtracted from gross profit (FI LAP 4)

NET INCOME/PROFIT/EARNINGS: Money remaining after operating expenses are subtracted from gross profit (QS LAP 38)

NET PROFIT: Money left after the cost-of-goods expense and the operating expense are each subtracted from the total income (EC LAP 2)

NET PROFIT MARGIN: Financial ratio that shows the percentage of profit after considering all aspects of running the business; calculated by dividing net profit by total sales (QS LAP 42, QS LAP 43)

NET WORTH: A company’s worth according to the balance sheet; also called book value (FI LAP 10)
The total value of the business (FI LAP 85, QS LAP 38)

NETWORK: To connect with individuals who might help accomplish personal, career, and professional goals (MN LAP 44, PD LAP 66)
A system of computers connected together by telephone wires, cable wires, or other means (BA LAP 3, NF LAP 4)

NETWORK ADMINISTRATOR: The individual responsible for overseeing all aspects of the system of computers connected together by telephone wires, cable wires, or other means (BA LAP 4, PM LAP 9)

NETWORKING: Exchanging information with others for the purpose of professional or business development and/or advancement (PR LAP 16)
Making contact and exchanging information with a variety of people; used mostly for business and career purposes (SE LAP 116)

NEUTRAL: Impartial; unbiased (FI LAP 9)

NEUTRAL CULTURE: A culture that tends to keep emotions controlled and subdued (EC LAP 45)

NEVER-OUT LIST: A list of a firm's best sellers or its key items of merchandise (DS LAP 3)

NEW PRODUCT: A good or service that has not been offered before, has been modified in some way, or is being presented or distributed in a different manner (PM LAP 17)

NEWS CONFERENCE: A meeting to which a business or group invites members of the media in order to make an announcement; used to announce major developments (PR LAP 8)

NEWS RELEASE: A factual announcement sent to the media to be used as a news item (PR LAP 8, PR LAP 10)

NEWSLETTER ARCHIVE: A collection of articles on a web site that provides information of interest to particular groups (PM LAP 9)

NEWSLETTERS: Messages that provide information of interest to particular groups (PR LAP 13)

NEWSWORTHY: Of interest to the public (PR LAP 8)

NICHE: The small segment of the total market interested in a subject (PM LAP 24, SM LAP 7)
Unique role (PM LAP 16)

NICHE MAGAZINE: A publication that focuses on a narrow subject and is targeted to the small segment of the total market that is interested in that subject (PR LAP 6)

NO-LOAD MUTUAL FUND: A mutual fund without a charge (or commission) paid by the purchaser (QS LAP 44, QS LAP 45)

NOMINAL GDP: Gross domestic product that has not been adjusted to account for inflation (EC LAP 1)

NON-DOLLAR SECURITY: Investments not using the U.S. dollar (QS LAP 44)

NONCONFORMIST: One who does not dress or behave as is customary; one who does not “go along with the crowd.” (PD LAP 2)

NONCUMULATIVE DISCOUNT: A quantity discount for a single order or shipment; a volume-based discount (PU LAP 3)

NONDURABLE GOODS: Tangible items that are consumed within a short time (EC LAP 1, MK LAP 4)

NONECONOMIC WANT(S): Desires for things that can be obtained without spending money (EC LAP 6)
A desires for something that can be obtained without spending money (EC LAP 10)

NONEXCLUSIVE CATEGORY: In licensing, a category in which more than one licensee is authorized to produce merchandise (PM LAP 14)

NONHAZARDOUS: Not dangerous (PM LAP 7)

NON-INTERACTIVE CONTENT: Information that lacks the capacity to create an individual experience (PR LAP 13)

NON-MARKETABLE BONDS: Bonds that cannot be bought or sold in the open market (QS LAP 33)

NONPRICE COMPETITION: A type of rivalry between or among businesses that involves factors other than price (e.g., customer services, modern facilities, trained personnel, and variety of products) (EC LAP 8)

NON-PROBABILITY DESIGN: A type of sampling design in which the probability of selecting each sampling unit is not known and the selection process is not random; its results are not considered to be representative of the entire population (IM LAP 285)

NONPROFIT BUSINESS: Business or organization whose intent is to make enough money to support its mission (EC LAP 71)

NONPROFIT CORPORATION: A legal business structure that primarily operates for the purpose of serving others, not to make a profit; income is used to cover operational expenses; can be exempt from paying some or all taxes (BL LAP 1)

NONPROFIT INSTITUTIONS: Businesses and organizations whose intent is to make enough money to support their mission (MK LAP 15)

NONRENEWABLE RESOURCES: Natural resources that may become entirely depleted; natural resources that cannot be replenished after use (EC LAP 14)

NONRESIDENTIAL INVESTMENT: The money businesses invest in buildings, equipment, vehicles, furniture, etc. (EC LAP 1)

NON-SAMPLING ERROR: Any mistake in a research study that occurs outside the sampling process; affects the accuracy of the data rather than the representativeness of the sample (IM LAP 285)
Human error in a research study (EC LAP 28)

NONSTORE RETAILING: A business that buys consumer goods or services and sells them to the ultimate consumer by means other than through a store, e.g., phone, mail, door to door, vending machines (CD LAP 2)

NONVERBAL: Communication that involves the use of gestures or facial expressions, rather than the use of words (QS LAP 1, QS LAP 24)

NONVERBAL ASSERTIVENESS: A confident attitude expressed through body language (EI LAP 18, QS LAP 4)

NONVERBAL COMMUNICATION: Communication that uses body language instead of words or to support words (CO LAP 25, EC LAP 45, EI LAP 33, EI LAP 45, HR LAP 20, QS LAP 7)
Communication that uses body language instead of or in addition to words (EI LAP 129, EI LAP 130)
Communication that uses body language to support words or instead of words (EI LAP 18)
Communication that uses body language to replace or support words (EI LAP 41)
Communication that involves the use of actions and expressions that send messages (EI LAP 140)
Communication that involves the use of gestures and facial expressions, rather than the use of words (CO LAP 17)

NONVERBAL SIGNALS: Communication that involves the use of gestures or facial expressions, rather than the use of words (SE LAP 120)

NORM: Something that is typical or standard (EI LAP 64)

NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA): An agreement among the United States, Canada, and Mexico eliminating all of their trade barriers (EC LAP 4)

NOTES PAYABLE: Forms stating that particular loans are to be repaid (QS LAP 38)

NOTES TO THE FINANCIAL STATEMENTS: Footnotes that complete the company’s financial statements (QS LAP 38)

NOVELTY: Newness (EI LAP 92)

O

OBJECTION(S): A point of difference between a customer and a salesperson that may prevent a sale; the customer's reason for not buying (SE LAP 48, SE LAP 117, SE LAP 120, SE LAP 895)
A doubt or hesitation that a customer has about a product that may prevent the customer from buying (SE LAP 874)
Points of difference between an audience and a presenter that may prevent full acceptance; doubts or hesitations that an audience has that may prevent them from agreeing with an idea (EI LAP 108)

OBJECTIVE: A point of view or opinion that is not influenced by bias, prejudice, or outside opinion (IM LAP 10)
Factual; not influenced by personal attitudes, expectations, or beliefs (MK LAP 14)
Neutral; unbiased (MP LAP 5) A point of view that is not influenced by bias, prejudice, or outside opinion (EI LAP 7)

p>OBJECTIVELY: Without bias or assumption (EI LAP 136)

OBJECTIVES: Goals to be reached (EC LAP 18, EC LAP 103, IM LAP 9, MN LAP 50, PD LAP 17, PR LAP 5, QS LAP 2, QS LAP 18, QS LAP 22, QS LAP 28)
Concrete tasks that help you on your way to achieving your goals (PD LAP 1, PD LAP 14, QS LAP 21)

OBJECTIVITY: Viewing things in an unbiased manner; not allowing one's personal needs, desires, etc., to influence one's perceptions (HR LAP 1)
Viewing things in an unbiased manner; not allowing your own personal needs and desires to impact your decision-making (IM LAP 25)
The state of being impartial or lacking bias (FI LAP 351)

OBLIGATION: Duty; requirement (EC LAP 106)

OBSERVATION: A marketing-research method that gathers data by watching consumers (IM LAP 10, IM LAP 17)

OBSOLESCENCE: The state of being outmoded or unfashionable (EC LAP 3)
Becoming outdated because of advances in technology (EC LAP 7)
Becoming outdated due to the introduction of new products, processes, and/or technology (NF LAP 1)

OBSOLETE: Outdated; useless (SM LAP 4)

OBVIOUS BENEFIT: Advantage of product that is apparent, plain to see, easily recognizable (SE LAP 113)

OCCUPATIONAL SAFETY AND HEALTH ACT OF 1970: A federal act that stipulates that workers may not be disciplined or discharged for refusing to work in unsafe environments or because they report an alleged violation to the appropriate government agency (MN LAP 53)

OCCUPATIONAL SAFETY AND HEALTH ADMINISTRATION (OSHA): A federal government agency that writes and enforces safety and health standards for businesses (EC LAP 16, RM LAP 2, RM LAP 3)

ODD LOTS: In investing, an order restriction that instructs a broker to trade fewer than 100 shares (QS LAP 47)

ODD PRICING: Settling selling prices below even-dollar amounts to suggest a bargain (PI LAP 1)

OFFENDED: Caused someone to be uncomfortable, embarrassed, or angry (QS LAP 4)

OFFENSIVE: Anything that causes others to feel discomfort, embarrassment, or anger(QS LAP 4)

OFFENSIVE LANGUAGE: Words or phrases that are distasteful or insulting (EI LAP 36)

OFFICE MANAGEMENT: A career area that facilitates business operations through information and communication management, data processing and collection, and project tracking; sometimes referred to as administrative services or business office management (Career Opps in BMA)

OFFSHORING: Producing goods in foreign countries (EC LAP 71)
Producing goods in foreign countries; typically involves moving domestic jobs overseas (EC LAP 104)

OLIGOPOLY: A market structure in which there are relatively few sellers, and industry leaders usually determine prices (EC LAP 8, PI LAP 3)

ON-BOARDING ACTIVITIES: Human resources management tasks that must be performed when a new employee joins the company (e.g., orientation and paperwork) (HR LAP 35)

ON-THE-JOB TRAINING: The most common method of training; the employee learns by actually performing the job (HR LAP 35, MN LAP 42, SE LAP 123)

ONBOARDING: Staffing tasks that must be performed when a new employee joins the company (e.g., orientation and paperwork) (SM LAP 4)

ONE-TIME COSTS: Expenses that a business will pay just once when implementing a decision or undertaking a project (FI LAP 11)

ONLINE BROKER: A broker who conducts business on the Internet; full-service and discount brokers may also have online services (QS LAP 48)

ONLINE DISCOUNT BROKER: A company or individual that provides investment services through the Internet on behalf of another for a reduced price (QS LAP 45)

ONLINE DISPUTE RESOLUTION: The process of resolving issues over the Internet (BA LAP 5)

ONLINE SURVEY: A marketing-research method that involves collecting opinions and other data from individuals via email or Internet websites (IM LAP 10)

OPEN-DOOR POLICY: A business practice whereby management encourages communication between employees and their superiors by stating that management's doors are always open (MN LAP 45)
A communication policy in which senior managers leave their office doors (figuratively or literally) “open” to encourage transparency within the organization (HR LAP 411)

OPEN-END MUTUAL FUND: Fund with no limit on the number of shares it can issue or the amount of money it can hold (QS LAP 35)

OPEN-ENDED QUESTION: A type of question that requires more than a simple “yes” or “no” response (CO LAP 17, EI LAP 41, SE LAP 120, SE LAP 874, QS LAP 7, QS LAP 17)

OPEN-MINDED: The ability to see different views and perceptions (QS LAP 29)

OPEN-MINDEDNESS: A willingness and ability to consider new ways of thinking (EC LAP 107, PD LAP 126)
The ability to reserve judgment and consider new ways of thinking (EI LAP 92)

OPEN RATE: The basic charge for a minimum amount of advertising space against which discounts are applied in a sliding-scale rate plan (PR LAP 6)

OPEN-RESPONSE QUESTION: A searching question that requires more than a “yes” or “no” answer (SE LAP 112)

OPEN SHOP: A union security agreement that does not require employees to join the union or pay dues (EC LAP 5)

OPEN WOUND: An injury in which there is a break in the skin, e.g., scrapes, cuts, and punctures (RM LAP 3)

OPENING PRICE: The first stock price of the day; also called the open (QS LAP 49)

OPERATING AGREEMENT: A written document signed by members of a limited liability partnership or limited liability company that specifies the terms of the business arrangement (BL LAP 1)

OPERATING BUDGET: See short-term budget (FI LAP 99)

OPERATING COSTS: The ongoing, day-to-day expenses of running a business that are not directly related to production (MP LAP 5, OP LAP 9)

OPERATING EXPENSES: All of the expenses involved in running a business (EC LAP 2, EN LAP 38, FI LAP 4, FI LAP 91, PI LAP 3, QS LAP 38, QS LAP 44)

OPERATING FUNDS: Monies used by a business to pay the costs of running the business (IM LAP 3)

OPERATING PROFIT: The result of subtracting operating expenses from gross profit (QS LAP 38)

OPERATING STATEMENT: Another name for an income statement (FI LAP 4)

OPERATING SYSTEM: The process a business uses to manufacture a good or provide a service; consists of people, places, materials, equipment, and information (OP LAP 189)

OPERATIONAL CHANGES: Changes in the way a business is set up or operates, e.g., remodeling, expanding parking (IM LAP 4)

OPERATIONAL RISKS: Possible events and situations resulting from employee actions, core processes, and daily business activities (EC LAP 3, RM LAP 41, SM LAP 75)

OPERATIONS: The day-to-day activities for continued business functioning (OP LAP 189, SM LAP 7)
The day-to-day activities required for continued business functioning (EC LAP 71, OP LAP 190)

OPERATIONS MANAGEMENT: A career area in which employees focus on planning, organizing, coordinating, and controlling the resources needed to produce/provide a business’s goods and/or services (Career Opps in BMA, PD LAP 15)

OPINION: A person’s point of view or belief about a topic (QS LAP 29)

OPINION LEADER: Influential person; role model (MK LAP 14)

OPINION-GATHERING PROBE: A technique for probing that is used to involved customers in sales presentations in order to determine their reactions to what has been said and to elicit their comments (SE LAP 120)

OPPORTUNITY: A circumstance that presents itself as a favorable means to meet an objective (PD LAP 66)
A favorable situation in the environment surrounding your business (MP LAP 10, NF LAP 15)

OPPORTUNITY COST: The benefit that is lost when you decide to use scarce resources for one purpose rather than for another (EC LAP 6)
The benefit that is lost when you decide to use scarce resources for one purpose rather than another, i.e., the opportunity cost of going to college is the money you would have earned if you worked instead (QS LAP 31)
What a business will lose if it spends its resources on one decision rather than another (FI LAP 11)

OPT-IN EMAIL: Electronic promotional messages that are sent with a recipient’s permission and allow the recipient to request removal from the subscriber list at any time; also known as permission-based marketing (PR LAP 13)

OPT-IN EMAIL MARKETING: Sending electronic promotional messages with a recipient’s permission and allowing the recipient to request removal from the subscriber list at any time (PR LAP 3)

OPT-OUT EMAIL: Electronic promotional messages that are sent without a recipient’s permission and allow the recipient to request to be removed from the subscriber list (PR LAP 13)

OPTION: A trading instrument used on the foreign exchange market; an agreement between two parties in which the owner of the option has a right—but not an obligation—to exchange one currency for another at an agreed-upon rate on an agreed-upon date (EC LAP 30)

OPTION TO RENEW: An element of a sponsorship agreement that allows the sponsor to extend the agreement after the contract expires (BL LAP 58)

OPTIONS: A category of derivatives giving investors the opportunity to buy or sell the rights to an asset according to contracted terms; types are calls and puts (QS LAP 49)

OPTIMISM: A positive attitude (QS LAP 23)
A positive attitude and belief about the future (EI LAP 92)
Hopefulness or confidence about the future or the successful outcome of something (EI LAP 133)

OPTIMIST: A person with a positive attitude (EI LAP 3)

ORAL DIRECTIONS: Verbal instructions (QS LAP 24)

ORAL PRESENTATION: A speech that brings an idea to someone’s attention (CO LAP 25)

ORDER: In investing, an instruction to a broker to make a trade on your behalf (QS LAP 47)

ORDERLY AND SYSTEMATIC BEHAVIOR: Acting in an organized and methodical manner (HR LAP 4)

ORDINARY DATING: A dating term based on the invoice date; also known as DOI, or Date-of-Invoice, dating (PU LAP 3)

ORGANIZATION: The ability to take ideas and bring each component together in an orderly way to achieve goals (OP LAP 675)

ORGANIZATIONAL AWARENESS: Knowing how a business operates, the relationships between key divisions, and who the decision makers are (EI LAP 1)

ORGANIZATIONAL CHART: A graphical representation of the flow of authority within an organization (EC LAP 103, EN LAP 38, SM LAP 64)

ORGANIZATIONAL CULTURE: The customs, traditions, and habits of employees working together at a particular firm (EC LAP 45, KM LAP 2, OP LAP 519, SM LAP 4)
The values and ideals that an organization encourages among its employees; also called corporate culture (CR LAP 6)
A set of shared values, beliefs, and assumptions that govern how people behave within an organization (EI LAP 64)

ORGANIZATIONAL DESIGN: The process of structuring a business’s people, information, and technology to enable the business to achieve its goals and to be successful; also called organizational structure (EC LAP 103)

ORGANIZATIONAL LEARNING: A concept that refers to a firm’s ability to accept and respond to change appropriately, becoming as effective and efficient as it can be (EC LAP 107)

ORGANIZATIONAL RESTRUCTURING: A significant change to a business’s structure or operations (e.g., merger, acquisition, downsizing) (HR LAP 35)

ORGANIZATIONAL SKILLS: The ability to take ideas and bring each component together in an orderly way to achieve goals (Career Opps in BMA, Career Opps in Hosp, QS LAP 18)

ORGANIZATIONAL STRUCTURE: The company’s configuration of employees for accomplishing specific business tasks; how the business is organized (CR LAP 16, PD LAP 252, SM LAP 4, SM LAP 64)
See organizational design (EC LAP 103)

ORGANIZATIONAL VISION: The future a company’s leaders desire to create (EI LAP 60)

ORGANIZED PARTICIPANTS: Players of sports that have rules and are controlled by groups or sanctioning bodies (MK LAP 12)

ORGANIZING: The management function of setting up the way the business's work will be done (SM LAP 3, SM LAP 4, SM LAP 64)

ORIENTATION: Job preparation or induction training in which new employees are acquainted with their surroundings, receive general information about the company and its policies, and are given specific information about their jobs (EC LAP 71, HR LAP 35, MN LAP 44, MN LAP 54)

ORIENTATION CHECKLIST: An organized list of activities to be completed during a new employee orientation program; a planning tool used by the person conducting an orientation (MN LAP 44)

OTHER ASSETS: Any assets not considered part of current assets or property and equipment; e.g., goodwill (QS LAP 38)

OUT-OF-HOME MEDIA: Promotional messages that are delivered to consumers when they are away from home (PR LAP 3)

OUTER COVERING: The wrapping material that covers the outside of the customer’s purchase (SE LAP 105)

OUTLINE: A general plan giving only the main points to be covered (PR LAP 9)

OUTPUTS: The goods and services produced as the result of combining inputs (EC LAP 18, EC LAP 31, OP LAP 17)
In the operations function, goods or services (OP LAP 189)

OUTSIDE COURSES: Courses offered outside the business facility, including vocational, trade, and evening schools, university programs or courses, and correspondence courses (MN LAP 42)

OUTSIDE SPECIALISTS: Consultants who are temporarily hired by a company to assist with all or part of a sales training program (SE LAP 123)

“OUTSIDE THE BOX”: In sales promotion, a way to describe fresh, new ideas that haven’t been done before (PR LAP 187)

OUTSOURCING: Acquiring assistance from outside organizations/consultants to obtain goods or services to accomplish business objectives or perform primary business activities (EC LAP 71, EC LAP 105, EC LAP 107, NF LAP 110, PM LAP 9)
Acquiring assistance from outside organizations/consultants to accomplish business objectives or perform primary business activities (HR LAP 35)
Acquiring assistance from outside organizations/consultants to obtain goods or services to accomplish business objectives (NF LAP 1)
A business practice in which companies reduce costs by transferring portions of work outside the business, often sending the work overseas (EC LAP 29)

OUTSTANDING BALANCE: The remaining amount that is owed to the creditor after the credit user has made a partial payment on his/her account (FI LAP 2)

OUTSTANDING SHARES: The number of shares of common stock currently held by investors; number of outstanding shares is a critical element in “per share” financial ratios and in capitalization (QS LAP 42)

OVER-THE-COUNTER MARKET: In investing, a place for trading securities outside of a formal exchange (QS LAP 47)

OVERAGE: The physical inventory is greater than the book inventory (DS LAP 6)

OVERAGES: Extra amounts beyond what was requested (DS LAP 5)

OVERCOMMITTED: Being committed to more than what is possible, necessary, or desirable (EI LAP 77)

OVERHEAD: Business expenses for things such as payroll, rent, and utilities (EC LAP 71)

OVER-LISTENING: Listening so closely to the individual words and details in a message that the main message is lost (CO LAP 17)

OVERSTOCKS: Larger amounts of stock than the business is able to sell (IM LAP 4)

OVERVALUED STOCK: A stock that is priced higher than the company's perceived intrinsic value (QS LAP 42)
In investing, a stock that is priced higher than the company's perceived intrinsic value (QS LAP 44)

OVERWHELMED: Overcome by a situation or set of circumstances (HR LAP 4)

OWNED-GOODS SERVICE: A product that involves repairing or changing a good that the consumer has already purchased (PM LAP 79)

OWNER EQUITY: The amount an owner has invested in the business plus or minus profits and losses (FI LAP 10, FI LAP 85, FI LAP 91)

OWNERSHIP: The state of possessing a good or service; having full control over a product’s use (EC LAP 13, EI LAP 45)
In a sponsorship agreement, the sponsor's assurance that its message will not get lost in sponsor clutter; the opportunity to “own” part of the event, such as the pregame show or the MVP award (SE LAP 321)

OWNERSHIP INVESTMENTS: Investments in which individuals purchase a portion or all of an item (FI LAP 77, QS LAP 32)

P

PACE: The speed at which something moves (HR LAP 4)

PACKAGING: Enclosing products in appropriate wrappings or containers (IM LAP 7)
Materials used to wrap or protect goods (PM LAP 40)

PACKING: A customer service that consists of enclosing customer purchases in protective materials to prevent damage to the goods and to improve their appearance (SE LAP 105)

PACKING SLIP: A shipper's form that usually accompanies incoming merchandise which describes the type and number of each item in a shipment (DS LAP 5)

PADDED PAYROLL CHECK: A check issued for higher wages than the employee actually earned (RM LAP 4)

PADDING: Extra resources needed to cover unexpected situations (QS LAP 19)
Accounting for any obstacles or risks that might arise during a project (OP LAP 531)

PAID LISTINGS: Online advertisements that appear near the top of search engine results; may appear to the right of regular listings; often referred to as “sponsored” or “featured” results (PR LAP 1)

PAINTED BULLETIN: Outdoor advertising space on which advertising messages are painted by artists (PR LAP 6)

PARADIGM INNOVATION: A type of innovation that is a significant change in the way a product is viewed by users and society at large (PD LAP 126)

PARADIGMS: The values, assumptions, and beliefs that make up the way people see things (PD LAP 126)

PARAPHRASING: Restating a message in other words to confirm or clarify its meaning; does not involve judgment or evaluation (CO LAP 17, EI LAP 41)

PARETO CHART: A type of bar graph that aids in quality management by helping to determine which problems need the most immediate attention (OP LAP 8)

PARTIALLY FINISHED GOODS INVENTORY: The producer’s inventory of products that are works-in-progress (OP LAP 189)

PARTIAL-RUNS: Printing technique that allows advertisers to place advertisements in specific editions rather than in a magazine's full-run (PR LAP 6)

PARTIALITY: Favoritism (EI LAP 21)

PARTICIPANT: One who participates or takes part (QS LAP 28)

PARTICIPATIVE DECISION-MAKING: The involvement of several individuals in making decisions; in business, the participation of employees in decisions to be made by management (EC LAP 18)

PARTNER: A term frequently used for sponsor (PR LAP 175)

PARTNERSHIP: A form of business ownership in which the business is owned by two or more persons (BL LAP 1, BL LAP 6, EC LAP 3, EC LAP 27)

PARTNERSHIP AGREEMENT: A written document signed by business partners which specifies the terms of the partnership arrangement (BL LAP 6)

PARTS: Industrial goods that become part of finished goods without any additional processing (EC LAP 10)

PAR VALUE (OR FACE VALUE): The original bond amount that is to be repaid at maturity (QS LAP 33)

PASS-THROUGH ENTITY: A business in which profits and losses pass through to the business owners; also called a flow-through entity (EC LAP 27)

PASSION: A strong feeling of enthusiasm, determination, and devotion (PD LAP 66)
Extreme enthusiasm for or devotion to something (PD LAP 12)

PASSIVE BEHAVIOR: Conduct in which people fail to exercise their own rights and to respect their own needs (EI LAP 7, EI LAP 18, QS LAP 4)

PASSIVE LISTENING: Listening without full attention (CO LAP 17)

PASSIVE MANAGEMENT: A style of mutual fund management that does not attempt to "beat the market"; the buy-and-hold approach (QS LAP 35)

PASSIVE VOICE: The verb form used to indicate the subject is receiving the action (PR LAP 9, PR LAP 10)

PASSIVENESS: An attitude based on the desire to avoid conflict (QS LAP 4)

PAST TENSE: A verb form that indicates action has already taken place (PR LAP 9)

PATENT: Legal protection of an invention or a process granted by government to its owners for a certain number of years (FI LAP 10, FI LAP 91) Legal protection of an invention or a process granted by government to its owners for a certain period of years (NF LAP 1)

PATENT INFRINGEMENT: A violation of the rights of the person who owns a patent (EN LAP 44)

PATIENCE: The ability to endure life's aggravations and difficulties calmly (EI LAP 14, EI LAP 27, EI LAP 41, EI LAP 92, QS LAP 7)
Enduring life's aggravations and difficulties calmly (EI LAP 131)

PATRONAGE: Loyalty to a particular business (CR LAP 1)

PATRONAGE MOTIVES: Emotional or rational reasons for buying which cause people to choose one business over another (SE LAP 883)

PATRONAGE PROMOTION: A type of institutional promotion designed to promote a firm’s features or prestige (PR LAP 4)

PAY-PER-CLICK LINK: An online advertisement placed by advertisers who pay their web host a fixed amount each time someone clicks on the ad (PR LAP 1)

PAY-PER-CLICK SEARCH ENGINES: Internet services that charge a fee for each click that results in a visitor to a web site based on how much the advertiser bids for key words (PM LAP 9, PR LAP 16)

PAYBACK PERIOD: The amount of time it takes a business to recover its initial investment into a certain decision or project (FI LAP 11)

PAYROLL: The sum of money paid to employees in a given period (FI LAP 91)

PAYROLL RECORD: A document about the sum of money paid to an employee in a given period (NF LAP 1)

PAYROLL TAX: A tax on employment, paid by both employers and employees; used to fund Social Security and Medicare in the United States (EC LAP 27)

PEAK: The phase of the business cycle considered the high point of economic activity when demand begins to exceed the production capacities of producers (EC LAP 9)

PEG: The focus or angle of a news release or article (PR LAP 10)

PEGGED CURRENCY: Currency that has a fixed exchange rate with another country’s currency; also called fixed currency (EC LAP 30)

PENETRATION PRICING: A pricing strategy that involves setting prices lower than those of the competition (PI LAP 47, PM LAP 24)

PENNY STOCK: Speculative stocks that sell at very low prices, usually $1 or less per share (QS LAP 34)

PENSION: A retirement fund which has been paid into by an employee and/or employer (EC LAP 28)

PENSION FUND: An investment fund that benefits employees’ retirement accounts (EC LAP 30)

PENSION PLAN: A system for paying employees after they have retired from the company (QS LAP 38)

PEOPLE KNOWLEDGE: Awareness and recognition of different people and cultures (CD LAP 2)

PEOPLE SKILLS: The ability to get along well with others and interpersonal skills such as communications and leadership (Career Opps in BMA, Career Opps in Finance, Career Opps in Hosp, CD LAP 2, MN LAP 50)

PERCEPTION: An individual’s personal picture of the world; how s/he makes sense out of the inputs s/he receives (MK LAP 14)

PERFECT COMPETITION: A market structure in which there are many businesses selling a lot of identical products for about the same price to many buyers; also known as pure competition (EC LAP 8)
A market condition that exists when there are many businesses selling a lot of identical products for about the same price to many buyers (EC LAP 31)

PERFECTIONIST: A person who refuses to accept any standard short of perfection (EI LAP 77)

PERFORMANCE: How well a product does the job it was designed to do (PM LAP 19)

PERFORMANCE EVALUATION: A formal assessment by the supervisor of a worker’s job performance that lets the worker know how s/he is doing on the job (EI LAP 15, MN LAP 54)

PERFORMANCE GOAL: A goal that is described by the level of performance reached or by a task completed (PD LAP 16)

PERFORMANCE REVIEW: A formal assessment by the supervisor of a worker’s job performance that lets the worker know how s/he is doing on the job (HR LAP 35)

PERIODIC INVENTORY CONTROL: A method of inventory control in which stock is counted at certain times of the year (DS LAP 4)

PERIODIC INVENTORY RECORDS: Stock information that is obtained from a physical count of the items of stock at periodic intervals (DS LAP 4)

PERIODIC SYSTEM: An inventory method that counts inventory at certain times of the year (DS LAP 2)

PERIODIC UNIT CONTROL: An actual count or a physical check of the units of stock at specific intervals (DS LAP 3)

PERIODICAL: A magazine or newspaper (MP LAP 5)

PERISHABILITY: A product's ability to withstand being stored (PM LAP 79)

PERISHABLE: Fleeting; going away quickly (MK LAP 12)

PERISHABLE GOODS: Items that are capable of spoiling, decaying, or dying (DS LAP 5)

PERKS: See Fringe Benefits (HR LAP 19)

PERMISSION-BASED MARKETING: Electronic promotional messages that are sent with the recipient’s permission; also known as opt-in e-mail (PR LAP 13)

PERMIT: A document that grants permission to do something (FI LAP 91)

PERPETUAL INVENTORY: A record of inventory information continuously updated (DS LAP 6)

PERPETUAL INVENTORY CONTROL: A method of inventory control that updates inventory information on a continuous basis as transactions occur (DS LAP 4)

PERPETUAL INVENTORY RECORDS: Stock information that is provided by a perpetual inventory control system (DS LAP 4)

PERPETUAL INVENTORY SYSTEM: An inventory method that updates inventory information on a continuous basis (DS LAP 2, NF LAP 1)

PERPETUAL UNIT CONTROL: A running record of all inventory transactions that is constantly being updated (DS LAP 3)

PERSEVERANCE: Continuing with a project or course of action in spite of problems or discouragement (EI LAP 1, PD LAP 2, QS LAP 14)

PERSISTENCE: The ability to continue working at a task or idea until the desired outcome is achieved (EI LAP 23, EI LAP 27, EI LAP 131, QS LAP 7)
To continue working at a task or idea until the desired outcome is achieved (EI LAP 41)
The attitude or characteristic of not giving up (QS LAP 5)

PERSONAL APPEARANCE: The physical image created by how you look and what you wear (PD LAP 2)

PERSONAL AUTHORITY: Authority given to an individual because of personality traits, character, or actions; informal authority (HR LAP 493)

PERSONAL BRAND: The image an individual creates with his/her personal appearance and behavior (PD LAP 2)

PERSONAL CHANGES: Changes concerning our bodies, minds, lifestyles, etc. (HR LAP 8)

PERSONAL CODE OF ETHICS: Guidelines for applying morals to our daily lives (QS LAP 8)

PERSONAL CODE OF ETHICS (BEHAVIOR): The way a person behaves based on his/her internal beliefs and standards (SE LAP 129)

PERSONAL CONSUMPTION EXPENDITURES: A factor used to calculate GDP that includes the final market value of all services and new and used goods purchased for consumption by individuals and nonprofit organizations (EC LAP 1)

PERSONAL CONSUMPTION EXPENDITURES PRICE INDEX: An inflation-rate measure similar to the Consumer Price Index; takes into account changing consumer preferences (EC LAP 28)

PERSONAL FINANCIAL ADVISOR: A person who provides individuals and families with guidance for their investment and financial decision; may also buy and sell certain financial products; also known as financial planner or a financial consultant (QS LAP 51)

PERSONAL IDENTIFICATION NUMBER (PIN): A number you choose to gain access to an account (NF LAP 4)

PERSONAL INTERVIEW: A data-collection method in which a researcher sits down with a respondent one-on-one to ask questions and record the answers (IM LAP 17)
A face-to-face conversation in which a researcher surveys an individual to obtain research data (IM LAP 10)

PERSONAL OBSERVATION: Awareness of one's surroundings; the most commonly used method of prospecting (SE LAP 116)

PERSONAL OWNERSHIP: Considering a task your very own; viewing a task or objective as your responsibility (QS LAP 5)

PERSONAL RESPONSIBILITY: Taking ownership of your behavior and the consequences of your behavior (EI LAP 21)

PERSONAL SELLING: The form of promotion that determines client needs and wants and responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities (IM LAP 7, MK LAP 4, MP LAP 2, PR LAP 1)
Planned, personalized communication that influences purchase decisions and enhances future business opportunities (SE LAP 932)

PERSONAL SKILLS INVENTORY: Assessment tool designed to help determine strengths and weaknesses (EI LAP 17, QS LAP 16)

PERSONAL SOURCES: Contacts that each individual has through his/her customers, friends, or relatives (SE LAP 115)

PERSONAL TRAINING: The sport product that involves doing something to better yourself in a sport (MK LAP 12)

PERSONAL TRAIT: A human characteristic expressed by a consistent pattern of behavior (HR LAP 12)
A personal characteristic expressed by a consistent pattern of behavior (EI LAP 9, EI LAP 240)

PERSONAL VISION: A mental picture of an individual’s desired life at some point in the future (EI LAP 63)

PERSONALITY: An individual's qualities or traits and behavior (EI LAP 9, EI LAP 36, HR LAP 2, HR LAP 20, MP LAP 3, SE LAP 112, SE LAP 115)
An individual’s unique combination of characteristics and traits (e.g., friendliness, compassion, adventurousness, etc.) (MK LAP 14)

PERSONNEL: A business’s employees (CR LAP 10)

PERSONNEL RECORD: A document containing information about an employee (NF LAP 1)

PERSUADE: To change a person’s mind or to convince someone to take action; a purpose of oral presentation (CO LAP 25)
Use argument or explanation to promote an idea or belief (QS LAP 10)

PERSUASION: Ability to get people to see things your way, to do things your way, or to agree with you (EI LAP 121, QS LAP 10)

PERSUASIVE: Convincing; influential (EI LAP 22, QS LAP 23)

PERT CHART: Program Evaluation and Review Technique; a statistical tool that analyzes project tasks and aids in creating an appropriate project schedule (OP LAP 1)

PESSIMIST: A person with a negative attitude (EI LAP 3)

PESSIMISTIC: Tending to see the worst in things or assuming that bad things will happen (EI LAP 133)

PETITION: A formal document that typically contains many people’s signatures and is submitted to a court or elected official to ask them to address an injustice (BL LAP 163)

PETTY CASH FUND: Small amount of money kept on hand by a business for business purchases (HR LAP 19)

PHILANTHROPIC: Voluntarily generous (EC LAP 106)

PHILOSOPHY: The combination of principles, attitudes, or beliefs held by individuals or organizations that influence their behavior (PR LAP 8, SM LAP 4)

PHISHING: An online identity-theft scam that fools its victims into believing they are submitting sensitive, personal information (such as credit card numbers or bank passwords) to a legitimate web site (QS LAP 50)

PHYSICAL ATTRIBUTES: An individual’s physical characteristics, such as hair color, height, weight, etc. (PD LAP 2)

PHYSICAL COUNT: An actual tally of each unit of stock (DS LAP 3)

PHYSICAL INVENTORY: An actual count of the items of stock (DS LAP 4, DS LAP 6)

PHYSICAL RESOURCES: Material items used to accomplish another activity (SM LAP 7)

PHYSICAL TRAITS: Personal traits such as age, sex, height, weight, coloring, build, posture, grooming, and general health (EI LAP 9)

PHYSIOLOGICAL NEEDS: Basic human desires needed to sustain life; first level of needs in Maslow's Hierarchy of Needs (MN LAP 47)
The most basic human needs, including food, water, and shelter (EI LAP 59)

PICKET: A union member involved in a picketing strategy (carrying signs, chanting slogans, etc.) (EC LAP 5)

PICKETING: A union pressure strategy in which union members stand near a company's entrance during a conflict or strike, often carrying signs and chanting slogans (EC LAP 5)

PIGGYBACK FRANCHISE: A form of ownership in which a retail franchise operates within the facilities of another store; often referred to as the host (BL LAP 1)

PILFERAGE: Theft of small sums of money or inexpensive items; petty theft (DS LAP 5, RM LAP 4)

PILOT STUDY: A small-scale research study used to test the feasibility of a project or idea (IM LAP 284)

PIRACY: The act of stealing a person's copyrighted materials (BA LAP 5)

PITCH: The degree of highness or lowness of sound (HR LAP 20)

PLACE: Marketing element focusing on considerations in getting a selected product in the right place at the right time (IM LAP 12, MN LAP 43, MP LAP 2, PI LAP 47)

PLACE (DISTRIBUTION): Marketing element focusing on considerations in getting a selected product in the right place at the right time (IM LAP 7, PI LAP 2, PM LAP 24)

PLACE DECISION: The decision to buy from a certain business (SE LAP 108)

PLACE SMOOTHING: The process of dividing a venue into different sections and pricing tickets accordingly (PI LAP 47)

PLACE UTILITY: Usefulness created by making sure that goods or services are available at the place where they are needed or wanted by consumers (EC LAP 13)

PLAIN TEXT: A body of information that does not contain special fonts, formatting, or graphics (PR LAP 13)

PLAIN TEXT E-MAIL: An electronic message that does not contain special fonts, formatting, or graphics (PR LAP 14)

PLANNED OBSOLESCENCE: The practice of designing a product to become obsolete, or unusable, before it should reasonably need replacement (MK LAP 4, MN LAP 43, PM LAP 40, SM LAP 3, SM LAP 4)

PLANNING: The management function of deciding what will be done and how it will be accomplished (MK LAP 4, MN LAP 43, OP LAP 519, SM LAP 3, SM LAP 4)

PLANNING TOOL: A chart or computer software program used for project planning (QS LAP 28)

PLANT OPERATORS: Companies that own, sell, erect, and maintain outdoor advertising space (PR LAP 6)

PLATFORM PROJECT: A business endeavor that is a major departure from existing projects; creates something entirely new (OP LAP 6)

PLAYERS’ ASSOCIATION: A union in a professional sport league (BL LAP 58)

PLAYING THE DEVIL'S ADVOCATE: Arguing against a position for the sake of argument or to validate that argument (FI LAP 355)

PODCAST: A digital recording that is distributed over the Internet and downloaded to a computer or mobile device for playback (SE LAP 131)

POINT-COUNTERPOINT: Method of answering objections in which the salesperson agrees on a valid point made by the customer and then answers the point by offering an equal or superior point; also referred to as superior point or counter-balance method (SE LAP 874)

POINT-OF-PURCHASE SCANNER: The wand or electronic screen that reads product codes and records related data (IM LAP 17)

POINT OF SALE: Store or other locations where products are sold to the final consumer (CM LAP 2)

POINT-OF-SALE FRAUD: Attempts to cheat a business out of money at the time of purchase; may involve cash, checks, or credit cards (RM LAP 4)

POINT-OF-SALE TERMINAL: Computerized cash register that automatically transmits data about each transaction directly to the computer (DS LAP 3)

POINT-SALES QUOTAS: A type of sales-volume quota in which salespeople receive a number of points for each dollar or product sold (SE LAP 118)

POLICIES: General rules to be followed by company personnel (HR LAP 23)

POLICY: A guideline explaining how employees are to act and how they are to deal with customers (CR LAP 10)
Any guideline explaining how employees are to act (PD LAP 250)

POLITE: Courteous; respectful (CR LAP 4)

POLITICAL CLIMATE: Government environment (NF LAP 15)

POLITICAL STABILITY: The degree to which a government is free from turmoil (NF LAP 15)

POLYSTYRENE: A rigid plastic that can be molded into different shapes; often used as an insulator (IM LAP 3)

PONZI SCHEME: An investment scam that lures in new investors by promising high rates of return with little to no risk (QS LAP 50)

POP-UP ADS: Promotional messages that appear in a separate browser window (PR LAP 3, PR LAP 16)

PORTABLE HARD DRIVE: A small, lightweight electronic storage device that can be used with any computer containing a USB drive; examples of portable hard drives include flash drives, memory sticks, and thumb drives (NF LAP 1)

PORTAL: Popular starting point for surfing the Web, a gateway to the Web; a directory that offers a variety of features such as news, chats, weather, etc. (PR LAP 3)
A place to store information across an entire organization or team (KM LAP 1)

PORTFOLIO: An investor’s complete collection of investments, including stocks, bonds, and mutual funds (QS LAP 45)

POSITION: Image or impression of a business or organization that consumers have in their minds (PR LAP 2)
What someone believes or feels about an idea or issue (QS LAP 3)
What someone believes or how s/he feels about an idea or issue (EI LAP 62)
The image or impression of a product or brand that consumers have in their minds (PM LAP 19)

POSITIONAL AUTHORITY: Authority and responsibility officially assigned to an individual who holds a position and/or a title on an organizational chart; formal authority (HR LAP 493)

POSITIONING: A product mix strategy in which a business creates a certain image or impression of a product in the minds of consumers (PM LAP 1, PM LAP 16, PM LAP 17)
A strategy in which a business creates a certain image or impression of a product or brand in customers' minds (PM LAP 19)

POSITIONING INNOVATION: A type of innovation that occurs when the purpose of a product is changed (PD LAP 126)

POSITIVE ATTITUDE: An outlook that focuses on the good side of things (EI LAP 3, EI LAP 9, EI LAP 14, EI LAP 240, HR LAP 20)

POSITIVE FEEDBACK: Praise or approval (EI LAP 15, QS LAP 20)

POSITIVE REINFORCEMENT: The act of encouraging a desired response by giving something pleasant (EI LAP 60, MN LAP 47)

POSITIVE SELF‑CONCEPT: A favorable image of one's self (HR LAP 12)

POSITIVE SELF-TALK: A way to think positively by giving yourself a “pat on the back” for your abilities and successes (EI LAP 3)

POSSESSION UTILITY: Usefulness created when ownership of a product is transferred from the seller to the user (EC LAP 13)

POST-PURCHASE TOUCH POINTS: All the opportunities that businesses have after sales transactions to connect with customers and reinforce their brand values (PM LAP 10)

POSTAGE METER: A piece of business equipment that prints postage strips that are used in place of postage stamps (HR LAP 19)

POSTAL SURVEY: A marketing-research method that involves collecting opinions and other data from individuals via the postal service (IM LAP 10)

POSTER PANELS: Outdoor advertising space on which posters containing advertising messages are affixed; also known as billboards (PR LAP 3, PR LAP 6)

POSTURE: The way in which you hold your body when sitting, standing, etc. (CO LAP 25, EI LAP 18, HR LAP 20, QS LAP 4)

POUNCE: To make an abrupt assault or approach (SE LAP 101)

POWER: The bargaining power that each person brings to a specific negotiating process (QS LAP 3)
The ability of an individual to influence the actions of other people (EI LAP 62, EI LAP 135)

POWER DISTANCE: A dimension of national culture that refers to how accepting less-powerful members of a society are of the inequality within the society (EC LAP 45)

POWER NEEDS: Desire to have impact, to be influential, or to control others (MN LAP 47)

PPE: Property, plant, and equipment; another term for fixed assets (FI LAP 10)

PRACTICAL OR FRUGAL PERSONALITY: A basic type of customer personality characterized by the customer's being cautious; disliking experiments; looking for a simple, uncluttered life; and/or looking for value (SE LAP 112)

PREDICTION: A forecast made about the future (IM LAP 12)

PREDICTIVE RESEARCH: Marketing research used to help the business forecast future business developments (IM LAP 10)

PREEMPTION RATES: Discount rates offered by broadcasters to advertisers who are willing to have their advertisement slot sold to a higher paying advertiser (PR LAP 6)

PREFERRED POSITION: Newspaper or magazine space thought to attract the greatest audience attention (PR LAP 6)

PREFERRED STOCK: A basic share of ownership in a corporation that comes with extra privileges but no voting rights (QS LAP 34)

PREGNANCY DISCRIMINATION ACT OF 1978: A law passed to protect the job rights of pregnant workers by making it illegal to fire or to demote them or to refuse to hire or to promote them because of their pregnancy (MN LAP 55)

PREJUDICE: Opinion or judgment that is based on feeling or hearsay, rather than fact; bias (EI LAP 15, EI LAP 30, EI LAP 33, EI LAP 36)
An opinion or judgment that is based on feeling or hearsay, rather than fact (EI LAP 139)
Generalized, set assumptions about people or things that are turned against an individual person; judgments or opinions that are not based on fact or experience (EI LAP 127)
Opinion or judgment that is based on feeling or hearsay, rather than fact; bias; generalized set of assumptions about people or things that are turned against an individual person (EI LAP 92)

PREMIUM: An item a business offers free to the purchaser of a particular product (PR LAP 187)

PREMIUM BONDS: Bonds available for purchase above par value (QS LAP 33)

PREPARING TO SELL: The phase of the selling process in which the salesperson acquires knowledge about the product, generates and qualifies sales leads, and prepares the sales presentation (SE LAP 48)

PRE-PURCHASE TOUCH POINTS: All the opportunities that businesses have before sales transactions to connect with customers and reinforce their brand values (PM LAP 10)

PRESCRIBING SOLUTIONS: The phase of the selling process in which the salesperson recommends specific goods or services that meet the customer's needs (SE LAP 48)

PRESENT TENSE: A verb form that indicates action is going on currently or occurs regularly (PR LAP 9)

PRESENTING SPONSORSHIP: A partnership in which the sponsor's name succeeds the event's name, such as the Grand Ole Opry presented by Cracker Barrel Old Country Store (SE LAP 321)

PRESS CONFERENCE: See News Conference ( PR LAP 8)

PRESS KIT: A set of articles and pictures provided to the media in order to obtain publicity (PR LAP 8)

PRESS RELEASES: Written information provided to the media in order to obtain publicity (CD LAP 2)

PRE-TAX PROFIT: The result of subtracting the interest expense from the operating profit (QS LAP 38, QS LAP 44, QS LAP 46)

PRESTIGE PRICING: Deliberately putting an artificially high price on a good or service to suggest high quality and status (PI LAP 1)

PREVENTATIVE: A type of internal accounting control designed to prevent errors or fraud from happening (FI LAP 343)

PREVENTION COSTS: The costs associated with planning and implementing quality so that defective products aren’t created (QM LAP 1)

PREVENTIVE DISCIPLINE: An approach to remedial action which concentrates on managing employees in such a way that behaviors which would require discipline are prevented (MN LAP 53)

PRICE: The amount of money paid for a good, service, or resource (EC LAP 6, EC LAP 12)
Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products (IM LAP 7, IM LAP 9, IM LAP 12, MN LAP 43, MP LAP 2, MP LAP 7, PI LAP 47, PM LAP 24)

PRICE-BASED COSTING: A pricing method in which the business determines how much customers will pay for a product, then adjusts costs accordingly (OP LAP 9)

PRICE CEILING: A maximum legal price that businesses can charge for certain products (EC LAP 12)

PRICE COMPETITION: A type of rivalry between or among businesses that focuses on the use of price to attract scarce customer dollars (EC LAP 8)

PRICE CONTROL(S): Government restrictions on the minimum and/or maximum prices of certain products (EC LAP 12)
A government’s determination of what price a product can be sold for (EC LAP 45)

PRICE DEALS: Illegal agreements to price products in a particular manner (SE LAP 129)

PRICE DECISION: The decision a customer reaches on the price s/he is willing to pay for a good or service (SE LAP 108)

PRICE DEFLATOR: An economic metric that converts current prices to a base dollar value to calculate real GDP

PRICE-DIRECTED SYSTEM: A descriptive term for the American private enterprise economy because price determines what people buy, the jobs they take, the success of failure of businesses, and the products that will be produced (EC LAP 15)

PRICE DISCRIMINATION: An illegal activity in which a business charges different customers different prices for similar amounts and types of products (EC LAP 8, EC LAP 16, PI LAP 3)

PRICE-EARNINGS (PE): Financial ratio that shows how much investors are willing to pay for each dollar of earnings; calculated by dividing a stock’s share price by earnings per share; often referred to as the multiple (QS LAP 42, QS LAP 43)

PRICE-EARNINGS AND GROWTH (PEG): Financial ratio that considers price, earnings, and growth, allowing investors to gauge whether the market’s expectations for earnings are in line with projections for growth; calculated by dividing projected PE by projected EPS growth (QS LAP 42, QS LAP 43, QS LAP 44, QS LAP 46)

PRICE-EARNINGS RATIO (P/E): Financial ratio that shows how much investors are willing to pay for each dollar of earnings; calculated by dividing a stock’s share price by earnings per share; often referred to as the multiple (QS LAP 37, QS LAP 44, QS LAP 46)

PRICE ELASTICITY: A measure of how sensitive customers are to changes in price (PI LAP 47)

PRICE FIXING: Illegal business agreement in which businesses agree on prices of their goods or services, resulting in little choice for the consumer (EC LAP 8, PI LAP 3)

PRICE INFORMATION: A function of relative prices that is necessary for consumers, producers, and resource owners to make important economic decisions; data concerning value/cost (EC LAP 12)

PRICE LINING: The practice of selling goods/services at a limited number of predetermined price points, or levels (PI LAP 1)

PRICE MARK-UP: The difference between the total cost of a product and its selling price (OP LAP 9)

PRICE POLICY: A guideline regulating the range of prices for goods and services that businesses offer to customers (HR LAP 25)

PRICE SKIMMING: A pricing strategy that involves setting prices higher than those of the competition (PI LAP 47, PM LAP 24)

PRICE STABILITY: An economic environment in which prices don't change very rapidly and the value of money is stable (EC LAP 28)

PRICE SUPPORTS: Assistance by government in maintaining the price of a good or service to enable the producers to earn a profit (EC LAP 16)

PRICE-TAG SWITCHING: A type of fraud by which a higher priced tag is removed from goods and replaced by a lower priced tag (OP LAP 25)

PRICE-TICKET SWITCHING: A type of fraud by which a higher priced ticket is removed from merchandise and replaced by a lower priced ticket (RM LAP 4)

PRICING: A marketing function that involves determining and adjusting prices to maximize return and meet customers' perceptions of value (BA LAP 3, CD LAP 2, EC LAP 2, MK LAP 1, MK LAP 4, PI LAP 2, PI LAP 47)

PRICING OBJECTIVES: Goals a company hopes to accomplish through its pricing strategies (PI LAP 2, PI LAP 3, PI LAP 47)

PRIMARY CIRCULATION: The total number of copies of a newspaper or a magazine sold at newsstands or by subscription (PR LAP 6)

PRIMARY DATA: Facts collected specifically for the problem or project at hand (IM LAP 281, IM LAP 282)
Facts and figures that have been collected specifically for the problem or project at hand (IM LAP 184)
Facts and figures collected specifically for the problem or project at hand (IM LAP 10)

PRIMARY DIMENSIONS OF DIVERSITY: Inborn differences that cannot be changed and affect a person’s entire life; include such characteristics as age, race/ethnicity, nationality, sexual orientation, and certain physical and mental traits and abilities (EI LAP 33)

PRIMARY INFORMATION: Marketing information developed from data that are collected for use in one particular situation (IM LAP 2, IM LAP 25)

PRIMARY NEEDS: Desires for things that the body cannot live without, e.g., air, food, and water (MN LAP 47)

PRIMARY PRODUCT PROMOTION: A type of product promotion intended to stimulate demand for an entire class of goods or services (PR LAP 4)

PRIMARY RESEARCH: Research that generates data that are new and specific to the problem or project at hand (IM LAP 285)

PRIME INTEREST RATE: The interest rate that banks offer to their best credit customers (EC LAP 1)

PRIME RATE: The interest rate offered by banks to their best credit customers (PU LAP 3)

PRINCIPAL: The original amount of a loan on which the amount of interest is based (FI LAP 2)
The original amount of an investment (QS LAP 45)

PRINTED DIRECT MAIL: Sales letters, catalogs, folders, booklets, and postcards delivered through the postal service (PR LAP 3)

PRIORITIES (PRIORITY): The order of importance of your activities (HR LAP 4, QS LAP 22)

PRIORITIZE: To determine the order for completion of activities based on their importance (PD LAP 1, PD LAP 14, QS LAP 21)

PRIORITIZING: Determining the order of completion based on importance (EI LAP 77)

PRIVACY POLICIES: Statements indicating how the business attempts to protect the privacy of its web-site visitors (BA LAP 4)

PRIVACY POLICY: A statement that discloses how an organization will gather, use, and manage a customer's data (CR LAP 17, IM LAP 25)

PRIVATE BRAND: Brands owned by intermediaries (PM LAP 6)

PRIVATE CORPORATION: A type of corporation owned by a few people that does not offer its shares for sale to the general public; also known as closely held, or close, corporation (BL LAP 1)

PRIVATE ENTERPRISE: An economic system in which individuals and groups, rather than the government, own or control the means of production–the human and natural resources and capital goods used to produce goods and services. Also known as free market economy, private profit system, market system, capitalistic system, or free enterprise system (EC LAP 27)

PRIVATE ENTERPRISE SYSTEM: An economic system in which individuals and groups, rather than government, own or control the means of production–the human and natural resources and capital goods used to produce goods and services; also known as free market economy, private profit system, market system, capitalistic system, or free enterprise system (EC LAP 3, MK LAP 1, SE LAP 117)
An economic system in which individuals and groups, rather than the government, own or control the means of production–the human and natural resources and capital goods used to produce goods and services (EC LAP 2, EC LAP 8)
An economic system in which individuals and groups, rather than the government, own or control the means of production; also known as free market economy, private profit system, market system, capitalistic system, or free enterprise system (BL LAP 1, EC LAP 15, EC LAP 16)

PRIVATE PROPERTY: Anything of value that people own (EC LAP 15)

PRIVATE SECTOR: That part of the economy that is owned and controlled by individuals and/or businesses (EC LAP 16)

PRIZE INDEMNITY: A type of insurance that protects organizations or sponsors from loss of income due to contest awards (BL LAP 58)

PROACTIVE: Adapting to the environment in advance of the occurrence of events; taking advantage of opportunities rather than reacting to problems (CR LAP 1, EI LAP 1, EI LAP 240, MN LAP 43, PR LAP 136, QS LAP 14, SM LAP 75)
Causing something to happen rather than waiting for something to happen (EI LAP 75)

PROACTIVE MANAGEMENT: A style of management that involves anticipating and planning in advance for change, rather than simply reacting to outside events when they occur (EC LAP 107)

PROBABILITY: The likelihood that an event will occur (EI LAP 91, SM LAP 75)

PROBABILITY DESIGN: A type of sampling design in which each sampling unit has a known probability of being selected and the selection process is random; its results are considered to be representative of the entire population (IM LAP 285)

PROBE: To find out what customers think, feel, or know (SE LAP 120)

PROBING: The use of probes, an investigation of what customers think feel, or know (SE LAP 120)

PROBLEM: An issue that needs a solution (PD LAP 77, QS LAP 26)

PROBLEM SOLVING: Finding solutions to obstacles or problems (PD LAP 17, PD LAP 77, QS LAP 2, QS LAP 5, QS LAP 17, QS LAP 26)
A conflict response mode in which one or both parties exhibit assertive behavior, express a high level of cooperation, and demonstrate the desire to reach a resolution that is satisfactory (EI LAP 7)

PROBLEM-SOLVING SKILLS: The ability to find solutions to obstacles or problems (Career Opps in BMA, Career Opps in Finance, PD LAP 66, PD LAP 77, PD LAP 126)

PROCEDURE: The step-by-step process personnel follow in performing a specific task (CR LAP 10, HR LAP 23)
A step-by-step process that employees must follow while performing a specific task (PD LAP 250)

PROCESS: The way in which an activity is carried out (OP LAP 189)

PROCESS INNOVATION: A type of innovation that occurs when a business changes a method or how something is done (PD LAP 126)

PROCESS ORIENTATION: A focus on how things are done, rather than just outcomes (OP LAP 8)

PROCESS PERFORMANCE MANAGEMENT: The supervision of business and/or manufacturing processes to ensure their quality and efficiency (OP LAP 8)

PROCESS THEORIES: Theories of motivation that concentrate on why people behave the way they do and how people go about meeting their needs (MN LAP 47)

PROCESSING PRIORITY: The order in which items are handled; depends upon their perishability, value, or the demand for them (DS LAP 5)

PROCRASTINATION: Putting off until tomorrow what could have been done today (EI LAP 77, PD LAP 1, PD LAP 14, QS LAP 21)

PROCUREMENT: See purchasing (OP LAP 189)

PRODUCER PRICE INDEX (PPI): A family of indexes that measure prices and inflation at the producer and wholesaler levels (EC LAP 28)

PRODUCERS: The people who make or provide goods and services (CM LAP 2, CM LAP 3, EC LAP 6, EC LAP 10, EC LAP 12, EC LAP 13, EC LAP 14, EC LAP 17, EC LAP 70, MK LAP 4, SE LAP 117)

PRODUCT(S): Marketing element referring to what goods, services, or ideas a business will offer its customers (CM LAP 2, CM LAP 3, IM LAP 9, IM LAP 12, MK LAP 4, MK LAP 15, MN LAP 43, MP LAP 7, PI LAP 47, PM LAP 8, PM LAP 16, PM LAP 17, PM LAP 24)
Goods and services (EC LAP 1, EC LAP 13, SE LAP 117, SE LAP 119)
A good, service, or idea a business offers its customers (PM LAP 19, PR LAP 2, SM LAP 7, SM LAP 13)
A good or service that a company sells to customers (PM LAP 40)

PRODUCT ANALYSIS SHEET: A list of a product’s features and benefits prepared by the salesperson to assist in the sales presentation (SE LAP 374)

PRODUCT BRAND: A name, term, symbol, or design (or combination of them) that identifies a product and distinguishes it from competitors' products (PM LAP 6)

PRODUCT/BRAND MANAGEMENT: A career that involves monitoring and developing one or more existing products or brands; planning the entire lifespan of a product or brand (Career Opps in Marketing)

PRODUCT DECISION: The decision a customer makes on the brand, type, model, etc., to buy (SE LAP 108)

PRODUCT DECISIONS: Marketing element referring to what goods, services, or ideas a business will offer its customers (PI LAP 2)

PRODUCT DEMONSTRATION: Actions of the salesperson in the sales presentation that show the product’s features (SE LAP 48, SE LAP 117, SE LAP 374)

PRODUCT DEVELOPMENT: The efforts involved in the creation of a new product (SM LAP 7, SM LAP 13)
The stage in the creation of a new product in which a working model may be tested, modified, and retested; production costs are estimated and final details of the product are planned (e.g., label, promotion, and distribution) (CR LAP 16, PM LAP 17)

PRODUCT DIFFERENTIATION: A strategy for making a product appear different from similar products on the market (PM LAP 16)

PRODUCT ELIMINATION: The removal of a weak product from the market and from the company’s product mix, also known as product discontinuation (PM LAP 17)

PRODUCT INNOVATION: A type of innovation that occurs when a business either creates or improves a product (PD LAP 126)

PRODUCT ITEM: Each individual good, service, or idea that a business offers for sale (PM LAP 3)

PRODUCT KNOWLEDGE: Information about a specific good or service that can be used in sales presentations (SE LAP 117)

PRODUCT LIABILITY: The producer’s responsibility for any injury that the business’s products may cause (PP LAP 7, PM LAP 7)

PRODUCT LIFE CYCLE: The stages through which goods and services move from the time they are introduced on the market until they are taken off the market (EC LAP 107, IM LAP 3, MK LAP 1, MP LAP 5, PI LAP 3, PM LAP 17, PM LAP 24, PM LAP 40, PM LAP 127, PR LAP 1, SM LAP 13)

PRODUCT LINE: A group of related product items (IM LAP 3, PM LAP 3, PM LAP 6, PM LAP 24)

PRODUCT MANAGEMENT: A career that involves monitoring and developing one or more existing products (CD LAP 2)

PRODUCT MANAGER: An individual who monitors one or more existing products and develops new products (EC LAP 103)

PRODUCT MANAGERS: Individuals within an organization who are responsible for an individual product or group of products (PM LAP 40)

PRODUCT MIX: The particular assortment of goods and services that a business offers in order to meet the needs of its market(s) and its company goals (DS LAP 3, PI LAP 3, PM LAP 3, PM LAP 17, PM LAP 40, PR LAP 8)

PRODUCT-MIX STRATEGIES: The ways in which businesses handle, or manage, their product mixes (PM LAP 3)

PRODUCT PLACEMENT: A type of “other” media that uses products as props in movies, television shows, and computer games (PR LAP 1, PR LAP 3)

PRODUCT POLICY: A guideline affecting the kinds of goods and services that businesses offer to customers (HR LAP 25)

PRODUCT POSITIONING: In a sponsorship agreement, the sponsor's privilege of having its goods or services used at the event (SE LAP 321)

PRODUCT PROMOTION: A type of promotion that aims to persuade consumers to buy a good or service (PR LAP 4, SM LAP 7)

PRODUCT RECALL: The removal from the marketplace of a product that is defective or hazardous to consumers (OP LAP 8, PP LAP 7, PM LAP 7)

PRODUCT-RELATED SERVICES: Services that are offered with a product such as maintenance, delivery, or repair (PM LAP 17)

PRODUCT/SERVICE MANAGEMENT: A marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities (BA LAP 3, MK LAP 1, PM LAP 17, PM LAP 40)

PRODUCT/SERVICE MIX: The particular assortment of products that a business offers to meet the needs of its markets and its company goals (BA LAP 3, MK LAP 1)

PRODUCT STANDARDS: Criteria for determining a product's ability to meet specified guidelines or requirements (EC LAP 4)

PRODUCT TRADE-NAME FRANCHISE: A franchise arrangement based on an independent sales relationship between a franchisor and franchisee to stock and sell a specific line of goods; also known as dealership or exclusive distributorship (BL LAP 1)

PRODUCTION: The economic process or activity of producing goods and services (EC LAP 6, EC LAP 14, EC LAP 17, EC LAP 71, IM LAP 9)
The creation of goods and services from economic resources (OP LAP 17)
The process or activity of producing goods and services (EC LAP 13)

PRODUCTION COSTS: Expenses directly associated with the creation of products (e.g., raw materials) (MP LAP 5)

PRODUCTION FUNCTION: An explanation of the relationship between inputs and outputs; also expressed as Q = f(L,K) (EC LAP 31)

PRODUCTION PLANNING: Determining how products will be produced and in what amounts (OP LAP 17)

PRODUCTION PROCESS: The way in which production is carried out (OP LAP 17)

PRODUCTIVE: Producing favorable or useful results (HR LAP 4, HR LAP 11)

PRODUCTIVITY: The amount and value of goods and services produced (outputs) from set amounts of resources (inputs) (CR LAP 1, EC LAP 7, EC LAP 18, EC LAP 106, FI LAP 11, IM LAP 3, OP LAP 2, OP LAP 190, PD LAP 252)
The amount of work employees perform in a given period, usually their output per hour (EC LAP 103, EI LAP 22, EI LAP 25, MK LAP 15, MN LAP 40)

PROFESSIONAL BUYER: A person whose job is to purchase the goods and services a business needs to create, promote, and sell products as well as to operate on a day-to-day basis (MK LAP 14)

PROFESSIONAL DEVELOPMENT: Steps that an individual takes to enhance or improve skills or traits that are needed to excel in her/his career/profession (EI LAP 17, HR LAP 35, PD LAP 66)

PROFESSIONAL ORGANIZATION: A group of persons in the same profession who form a society to further their common interests–primary focus is generally the expansion of professional knowledge and the maintenance of high professional standards (CD LAP 1)

PROFESSIONAL UNION: A union made up of workers in the same profession, e.g., teachers, nurses (EC LAP 5)

PROFESSIONALS: Athletes who are paid to play a sport, which is often their occupation (MK LAP 12)

PROFILE: A list of the main characteristics of a person or group of persons that creates a "picture" of the person or group (IM LAP 10, IM LAP 9)

PROFIT: Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid (EC LAP 3, EC LAP 12, EC LAP 15, EC LAP 17, HR LAP 19, HR LAP 25, IM LAP 7, MK LAP 1, OP LAP 190, SE LAP 130, SM LAP 7)
A business’s income after expenses (CR LAP 10)
Monetary reward a business owner receives for taking the risk involved in investing in a business (BL LAP 6, EC LAP 2, EC LAP 71, EI LAP 4, MP LAP 2, PI LAP 4)
The income left once all expenses are paid (EC LAP 27, OP LAP 25, PI LAP 3, PM LAP 24, FI LAP 4)

PROFIT-AND-LOSS STATEMENT: Income statement (FI LAP 91)
Another name for an income statement (FI LAP 4)

PROFIT MARGIN: A ratio of net profit (after taxes) divided by net sales that reflects the profit per dollar of sales (OP LAP 2, PI LAP 2)
The percent of sales remaining after subtracting expenses; profit margin can be figured on gross profit, operating income, pre-tax earnings, net profit, or any level of income as needed (QS LAP 43, QS LAP 44, QS LAP 46)

PROFIT MAXIMIZATION: A profit-oriented pricing objective intended to give the firm the most possible profit (PI LAP 3)

PROFIT MOTIVE: The desire to make a profit, which moves people to invest in business (EC LAP 2, EC LAP 15)

PROFIT-ORIENTED PRICING: A category of pricing objectives that focus on profit for the business (PI LAP 3)

PROFIT QUOTAS: A type of financial quota whose use encourages salespeople to be profit oriented, rather than volume oriented (SE LAP 118)

PROFITABILITY: The degree or level of profit of a business or a product (EC LAP 106, MK LAP 15, QS LAP 42, SE LAP 129)
Ability to yield a financial gain (FI LAP 9)

PROFITABILITY ANALYSIS: A financial breakdown that allows owners/managers to determine when a business venture will break even or start turning a profit (EN LAP 38)

PROFITABILITY RATIO: A class of financial ratios that measures the ability of a company to make a profit (QS LAP 43)

PROGRAMMED INSTRUCTION: A training method that presents material in small units which are followed by examinations to determine trainee’s knowledge gain (SE LAP 123)

PROGRAMMED THINKING: A process used to solve problems and generate ideas in logical, analytical, organized ways (PM LAP 127)

PROGRESSIVE DISCIPLINE: A form of corrective discipline which calls for administering progressively more severe penalties each time an offense is repeated (MN LAP 53)

PROJECT: Any type of undertaking, or task, that has a distinct beginning and end (QS LAP 18, QS LAP 19, QS LAP 28)
A short-term undertaking that creates a unique good or service (OP LAP 1, OP LAP 158)
Any type of undertaking or task that has a distinct beginning and end (OP LAP 531)
Any type of undertaking, or task, that has a distinct beginning and end and that creates a unique good or service (OP LAP 519, OP LAP 521)

PROJECT CHAMPION: A project’s sponsor; a person who has the ability and authority to assist the project manager in getting the job done (OP LAP 158)

PROJECT CHARTER: A formal document that officially authorizes a project to get underway (OP LAP 158)
A document created at the initiation of the project that gives the project manager authority to complete the project (OP LAP 1)

PROJECT CLOSE: The fifth stage of the project management process; includes wrapping up the project, delivering the end product, and documenting lessons learned (OP LAP 158)

PROJECT CREEP: A problem wherein the scope of a project keeps getting bigger and bigger (OP LAP 158)

PROJECT EXECUTION: The third stage of the project management process; includes carrying out the actual project work (OP LAP 158)

PROJECT INITIATION: The first stage of the project management process; includes all of the activities required for starting up a new project, such as creating a statement of work and a project charter (OP LAP 158)

PROJECTION: See prediction (IM LAP 12)

PROJECT MANAGEMENT: The process of planning, scheduling, and monitoring the progress of a project to achieve a specific goal (OP LAP 531, OP LAP 675, QS LAP 18, QS LAP 28)
The skills, tools, and processes used to plan, execute, and control the elements of a project (OP LAP 158)

PROJECT MANAGER: Person responsible for overseeing all of the activities that are part of a project (OP LAP 158, QS LAP 18, QS LAP 28)

PROJECT MONITORING AND CONTROLLING: The fourth stage of the project management process; includes making sure the project stays on track and making the appropriate corrective measures if it doesn’t (OP LAP 158)

PROJECT PLAN: A detailed plan for completing a project (QS LAP 28)
A set of related, “living” documents that serve as a road map for a project from beginning to end (OP LAP 1, OP LAP 520)

PROJECT PLANNING: The second stage of the project management process; includes determining how all parts of the project will be accomplished, including creating the work breakdown structure (OP LAP 158)

PROJECT RESOURCES: The items you need to complete a project (OP LAP 519, OP LAP 521)

PROJECT SCHEDULE: A document that tracks important dates and deadlines during the life of a project (OP LAP 1, OP LAP 519, OP LAP 521)

PROJECT SCOPE: What a project will and will not include (OP LAP 1)

PROJECT TEAM: A group of people who are assigned to work together on a specific assignment (EI LAP 45)

PROMISSORY NOTE: A legal form signed by a borrower promising to repay a loan (FI LAP 2)

PROMOTING: The act of communicating information about products, services, images, or ideas to customers or clients (CD LAP 2)

PROMOTION: A marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome (BA LAP 3, CM LAP 2, MK LAP 1, MP LAP 7, OP LAP 25, PR LAP 1, PR LAP 2, PR LAP 4)
Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products (IM LAP 7, IM LAP 12, MN LAP 43, MP LAP 2, PI LAP 47, PM LAP 19, PM LAP 24)

PROMOTION DECISIONS: Marketing element referring to selection of the various types of communications that marketers use to inform, persuade, or remind customers of their products (PI LAP 2)

PROMOTIONAL BUDGET: The amount of money a business plans to spend on promoting its goods and services during a certain period of time (PI LAP 2, PR LAP 8)

PROMOTIONAL DISCOUNT: A deduction from the seller’s price for promoting the seller’s merchandise; a function-based discount (PU LAP 3)

PROMOTIONAL ITEMS: Small objects distributed to promote the company (SE LAP 129)

PROMOTIONAL MATERIALS: Information designed to influence buying decisions (SE LAP 117)

PROMOTIONAL MIX: A combination, or blend, of marketing communication channels that a business uses to send its messages to consumers (i.e., advertising, sales promotion, personal selling, and publicity) (PR LAP 8)
A combination, or blend, of marketing communication channels that a business uses to send its messages to consumers (PR LAP 1)

PROMOTIONAL PLAN: A framework for the promotional activities of a business (PR LAP 9)

PROMOTIONAL POLICY: A guideline affecting the kinds of special activities, such as contests and prizes, that businesses use to attract customers and to increase sales (HR LAP 25)

PROMOTIONAL PRICING: Pricing goods/services at low levels and advertising them heavily (PI LAP 1)

PROMOTIONAL RECORD: Document containing information about the various types of communications that businesses use to inform, persuade, or remind customers of their products, images, or ideas (NF LAP 1)

PROOFREAD: To read written materials in order to find and to mark errors for correction (PR LAP 9)

PROPERTY AND EQUIPMENT: A company’s assets that involve land, buildings, or machinery; sometimes called property, plant, and equipment (PPE) (QS LAP 38)

PROPERTY TAX: A tax based on a percentage of the value of the property owned; most often applies to real estate (EC LAP 27)

PROPRIETARY INFORMATION: Private information that belongs to an organization and cannot be released to the public (NF LAP 110)

PROPORTIONATELY STRATIFIED SAMPLING: A type of stratified random sampling in which the sample size from each stratum is dependent on that stratum’s size relative to the entire population (IM LAP 285)

PROS: Positive characteristics (PD LAP 17, QS LAP 2)

PROSPECT: Any person or business with the potential to purchase a good, service, or idea; qualified lead (IM LAP 184, SE LAP 116, SE LAP 130)

PROSPECTING: The act of identifying any person or organization with the potential to buy a product and compiling that information in an organized manner for future use (SE LAP 115, SE LAP 116)
A selling activity that focuses on locating and cultivating new clients (SE LAP 932)

PROSPECTIVE RISKS: Risks that have not happened before but could occur in the future (SM LAP 75)

PROSPECTUS: Document containing all vital information about a mutual fund (QS LAP 35, QS LAP 44)

PROSPERITY: A state of economic growth (NF LAP 15)

PROTECTIONISM: A government's policy to protect domestic industries and businesses against foreign competition (EC LAP 4)
A philosophy that favors policies to shield the domestic economy from foreign competition (EC LAP 29)

PROTEST: A demonstration or gathering of people taking a stand for or against a particular issue (BL LAP 163)

PROTOCOL: The established set of rules that govern behavior within an organization (PD LAP 250)

PROTOTYPE: An early sample or model of a product (OP LAP 8, PM LAP 17)

PROVISION: A clause in a legal document that describes specific requirements or conditions (PM LAP 4)

PROXY STATEMENT: A document describing information relevant to shareholders; distributed before a shareholders' meeting as an SEC requirement (QS LAP 44)

PSYCHOGRAPHIC SEGMENTATION: The division of a market on the basis of customers' lifestyles and personalities (MP LAP 3, PI LAP 47)

PSYCHOLOGICAL PRICING: A pricing method that appeals to the emotional responses of customers and is used by businesses to attract customers to the value of the goods/services offered for sale (PI LAP 1)

PSYCHOLOGY: The study of a person's or group's thoughts, feelings, and actions (CD LAP 2)

PUBLIC ACCOUNTANT: A person who prepares, analyzes, and verifies financial data for a variety of clients, including the government, corporations, and individuals (FI LAP 351, QS LAP 51)

PUBLIC BUSINESS/COMPANY: A business owned by investors who trade its shares via a stock exchange (NF LAP 1)

PUBLIC COMPANY: A company whose shares are traded on the stock exchange (FI LAP 9)
A company whose shares are traded on a stock exchange (FI LAP 10)

PUBLIC CORPORATION: A type of corporation that usually sells millions of shares of stock to many stockholders; must make its financial information available to the general public (BL LAP 1)

PUBLIC GOODS: Goods and services that are used by all people and cannot be withheld from people who don't help to pay for them (EC LAP 16)

PUBLIC HEALTH CIGARETTE SMOKING ACT: A federal law passed in 1971 to ban radio and television advertising of tobacco products (PP LAP 7)

PUBLIC IMAGE: The way people view the business (EI LAP 4)

PUBLIC RELATIONS: A career that involves dealing with controversial public issues that are related to a company or its products (CD LAP 2)
A function of business designed to establish and maintain positive relationships between the business and its various publics, or fan bases (MP LAP 2, PD LAP 2, PR LAP 136)
A career in which employees are responsible for establishing good relations between their business or organization and the public; may also involve dealing with controversial public issues that are related to a company or its products (Career Opps in Marketing)

PUBLIC RELATIONS AGENCY: A business that prepares news releases and other forms of publicity for clients (PR LAP 10)

PUBLIC RELATIONS DEPARTMENT: A division of a business whose function is to establish good relations between the business and the public (PR LAP 8, PR LAP 10)

PUBLIC-RELATIONS PROMOTION: A type of institutional promotion created to deal with controversial public issues that are related to a company or its products (PR LAP 4)

PUBLIC SECTOR: That part of the economy that is owned and operated by government at all levels, e.g., schools, libraries, highway systems (EC LAP 16)

PUBLIC-SERVICE PROMOTION: A type of institutional promotion that informs consumers about noncontroversial issues that are in the public’s interest (PR LAP 4)

PUBLICATIONS: Category of advertising media that includes newspapers and magazines that are printed on a regular basis (PR LAP 3)

PUBLICITY: ny nonpersonal presentation of ideas, goods, or services that is not paid for by the individual or organization benefiting from or harmed by it (CR LAP 6, IM LAP 7, MK LAP 1, MK LAP 4, MP LAP 2, OP LAP 25, PD LAP 2, PP LAP 7, PR LAP 1, PR LAP 136)

PUBLICITY GOALS: The objectives that a business or organization hopes to achieve through the use of publicity (PR LAP 8)

PUBLICITY PLAN: The steps a business follows in order to reach its publicity goals (PR LAP 8)

PUBLICS: The audience or intended message receivers of a public relations message; the sport/event fan bases (PR LAP 136)

PUFFERY: An unsubstantiated exaggeration or overstatement typically used for self-gain; most frequently used in advertisements, sales presentations, and financial forecasts (EN LAP 44)

PULL STRATEGY: A promotional strategy that involves a producer promoting its products directly to the ultimate consumer or industrial user; intermediaries then purchase the products from the manufacturer to meet customer demand (PR LAP 1)

PULSING STRATEGY: A media timing strategy that involves intermittent bursts of advertising (PR LAP 5)

PUMP AND DUMP: An investment scam that takes place mostly online; scammers buy a small stock and then hype it up to other investors, causing its price to rise; the scammers sell when the price is high, leaving the victims to deal with the rapid price decline afterwards (QS LAP 50)

PUNCHED PRICE-TICKET STUB: The portion of a coded price ticket retained by the business; merchandise information punched into the stub is read by the computer scanner (DS LAP 3)

PUNISHMENT: An unpleasant condition used to eliminate undesirable behavior (MN LAP 47)

PUNISHMENT TECHNIQUE: Negative reinforcement given for losing self-control (EI LAP 14)

PURCHASE: Obtaining a good or service (EC LAP 13)

PURCHASE AGREEMENT: A purchase contract that lists the good or service to be purchased, the quantity to be purchased, the price, terms of delivery, payment information, warranty and guarantee information, and other details as needed (OP LAP 2)

PURCHASE LABORATORY: A simulated shopping experience that marketing researchers use to run experiments (IM LAP 17)

PURCHASE ORDER: The form that a business fills out to order goods; may be the same as a purchase agreement or purchase contract (DS LAP 5, OP LAP 2)

PURCHASE TOUCH POINTS: All the opportunities that businesses have during sales transactions to connect with customers and reinforce their brand values (PM LAP 10)

PURCHASING: The buying of goods and services for a business (OP LAP 2, OP LAP 25, OP LAP 189, OP LAP 190)
Buying the resources needed for production (OP LAP 17)
The process of acquiring the goods and services necessary to keep production going and to accomplish business goals (EC LAP 71)

PURCHASING POWER: The financial ability to buy products and services; the value of a sum of money (EC LAP 1)

PURCHASING PROCESS: A series of sequential steps taken by purchasing specialists to buy goods and services for a business (OP LAP 2)

PURE COMPETITION: A market structure in which there are many businesses selling a lot of identical products for about the same price to many buyers (PI LAP 3)

PURE MONOPOLY: A condition in which a market is controlled by one supplier, and there are no substitute goods or services readily available (PI LAP 3)

PURE RISK(S): A risk of loss that carries the possibility of loss or no loss (EC LAP 3)
A risk that carries the possibility of loss or no loss (SM LAP 75))

PURE SERVICES: Services provided to consumers without the involvement of any tangible product (PM LAP 17)

PUSH STRATEGY: A promotional strategy that involves a producer promoting its products to intermediaries; intermediaries then promote the products to customers (PR LAP 1)

PUTTABLE BONDS: Bonds that can be repaid before their maturity date at the request of the lender (QS LAP 33)

PYRAMID SCHEME: An illegal form of multi-level marketing in which emphasis is placed on collecting initial fees from as many people as possible (BL LAP 1, QS LAP 50)

Q

QUALIFIED PROSPECTS: Organizations or individuals who have a need for a product, have the ability to pay, have the authority to buy, and are accessible to the salesperson (SE LAP 116)

QUALIFYING: A selling activity that focuses on ensuring the customer is right for the product (e.g., has the funds to pay for it) (SE LAP 932)

QUALITATIVE DATA: Facts and figures based on opinion and personal interpretations (IM LAP 10)
Information that is based on thoughts, feelings, experiences, or opinions; descriptive and non-statistical in nature (IM LAP 17, OP LAP 520, OP LAP 521)
Subjective information; based on thoughts, feelings, opinions, experiences (IM LAP 281, IM LAP 284)

QUALITATIVE FORECASTING: Sales forecasting that is based on expert opinion and personal experience (MP LAP 5)

QUALITATIVE MEASURES: Measures that rely on subjective judgment in evaluating quality, such as effectiveness of management, level of competition, innovativeness, etc.; often used with quantitative measures (QS LAP 42, QS LAP 46)

QUALITATIVE MEDIA FACTORS: Characteristics of advertising media and vehicles that are often difficult to measure, such as credibility and editorial environment, that have an influence on their selection (PR LAP 5)

QUALITATIVE METHODS: Forecasting methods based on expert opinion and personal experience (IM LAP 3)

QUALITY: The degree of excellence of a good or service–how good it is (IM LAP 7, MP LAP 2, OP LAP 189, OP LAP 190, PI LAP 3, PM LAP 19, PM LAP 79)
The degree of excellence of a good or service (OP LAP 1)
A measure of excellence; a measure of how well something conforms to predetermined standards (OP LAP 8, OP LAP 519, OP LAP 520, OP LAP 521, OP LAP 675)
The degree of excellence of a product (PM LAP 40)
The evaluation of a product based on excellence, value, conformance to specifications, and customer satisfaction (QM LAP 1)

QUALITY ASSURANCE: A process businesses use to prevent defective products from being created, not just to eliminate or correct them after they’ve already been produced (MK LAP 1, OP LAP 189, QM LAP 1)

QUALITY CHECK: An examination of incoming goods or materials to ensure that they meet the quality standards of the purchaser (DS LAP 5)

QUALITY CIRCLE: A team of employees with similar roles who meet regularly to discuss issues and solve problems (EI LAP 45)

QUALITY CONTROL: Ensuring the degree of excellence of a good or service (EC LAP 71, OP LAP 189)
A process businesses use to check for defects after products have been produced; also called quality inspection (QM LAP 1)

QUALITY-CONTROL MEASURES: Methods and activities that organizations use to ensure excellence and conformance to standards (OP LAP 8)

QUALITY IMPROVEMENT: A business’s ongoing commitment and willingness to make changes for the purpose of maintaining quality (QM LAP 1)

QUALITY INSPECTION: A process businesses use to check for defects after products have been produced (OP LAP 189)

QUALITY MANAGEMENT: The ongoing process of planning, implementing, and integrating quality into every aspect of an organization (QM LAP 1)

QUALITY-MANAGEMENT PLAN: In project planning, a document that contains strategies for meeting quality requirements for both the deliverable(s) and the project itself (OP LAP 1)

QUALITY-MANAGEMENT SYSTEM: An organization-wide plan to ensure excellence and conformance to standards (OP LAP 8)

QUALITY OF WORK LIFE: The general conditions in which employees work (EC LAP 18)

QUALITY STANDARDS: Established specifications used to measure the degree of excellence of a good or service (PM LAP 8)

QUANTIFY: To put into numerical form (OP LAP 190)

QUANTITATIVE DATA: Numerical facts and figures (IM LAP 10)
Information that is based on numbers, statistics, or hard facts (IM LAP 17, OP LAP 520, OP LAP 521)
Objective information; specific and measurable (IM LAP 281, IM LAP 284)

QUANTITATIVE FORECASTING: Sales forecasting that is based on the analysis of hard facts or numerical data (MP LAP 5)

QUANTITATIVE MEASURES: Measures that rely on numbers; often used with qualitative measures (QS LAP 42, QS LAP 46)

QUANTITATIVE MEDIA FACTORS: Factors affecting selection of media and vehicles that can be measured numerically (PR LAP 5)

QUANTITATIVE METHODS: Forecasting methods based on numerical market data (IM LAP 3)

QUANTITY DISCOUNT: A deduction from the seller’s price for purchasing large volumes or dollar amounts of goods; a volume-based discount (PU LAP 3)

QUANTITY STANDARDS: Established specifications used to measure the amount of work produced (PM LAP 8)

QUARTERLY SURVEY OF BUYING INTENTIONS: Data gathered by the U.S. Bureau of Census as to consumers’ intentions to purchase durable goods (IM LAP 4)

QUESTIONING: Using straightforward, nonjudgmental questions to clarify or to get more information (CO LAP 17, EI LAP 41)

QUESTIONNAIRE: A set of written questions designed to gather information (CD LAP 2, EI LAP 19, IM LAP 10, IM LAP 17, IM LAP 281, IM LAP 284, QS LAP 17, SE LAP 119)

QUOTA: A trade restriction that limits the quantity of goods that can move into or out of a country (EC LAP 4, EC LAP 45)

QUOTA SAMPLING: A non-probability sampling method in which researchers recruit respondents based on fixed quotas or percentages (IM LAP 285)

QUOTAS: Specific goals to be met (EC LAP 17, PM LAP 8, SE LAP 129)

QUOTE: An estimated price (OP LAP 190)

QUOTE CURRENCY: The second currency listed in an exchange-rate quotation; its value will be equal to one unit of the base currency; also called counter currency (EC LAP 30)

R

R&D PROJECT: A business endeavor that involves the research and development of new knowledge, new processes, new technologies, etc. (OP LAP 158)

RACE: A division of human beings based on their ancestry, physical characteristics, and/or personal identity (EI LAP 36, EI LAP 139, IM LAP 9)

RACK JOBBER: A vendor who delivers stock to a business and puts it in racks or other locations for the business (DS LAP 4)

RADIO OR TELEVISION ANNOUNCEMENTS: Brief messages presented by the broadcast media (PR LAP 8)

RANDOM CHECK: A method of checking goods that involves checking a few items or containers chosen at random, rather than each item or container in the shipment; also called spot check (DS LAP 5)

RANDOM SAMPLE: A sample in which every element in the population has an equal chance of being selected (OP LAP 8)

RAPPORT: A good relationship (SE LAP 108)

RATE CARD: Price list used by media vehicles to list their rates and other relevant information (PR LAP 6)

RATE OF RETURN: The reward or benefit received in return for an investment, recorded as a percentage of the investment (QS LAP 44)
A gain or loss on an investment over a certain period of time (FI LAP 9)
Gain or loss on an investment; expressed as a percentage (EC LAP 30)

RATIFY: To approve or sanction (EC LAP 5)

RATIO: A comparison created when one number is divided into another (FI LAP 4, QS LAP 42, QS LAP 43)

RATIONAL: Logical; reasonable; sensible (HR LAP 8)

RATIONAL BUYING REASON: A customer’s motivation for purchasing a product that is based on thinking or logic (SE LAP 114)

RATIONAL MOTIVES: Reasons for buying that appeal to the sense of reason or judgment (MK LAP 19, SE LAP 883)

RATIONALIZATION: Justification for one’s actions (FI LAP 343, FI LAP 355)

RATIONING: A function of relative prices that determines who gets the goods and services produced; determining how scarce resources will be distributed (EC LAP 12)

RAW FORM: Natural state or condition (EC LAP 13)

RAW-GOODS PRODUCER: A type of producer that provides goods in their natural state (EC LAP 70)

RAW MATERIALS: Items in their natural state or condition (DS LAP 4, EC LAP 10, EC LAP 14, IM LAP 3, QS LAP 38)

RAW MATERIALS INVENTORY: The producer’s inventory of materials needed to make its product (OP LAP 189)

REACH: A quantitative measure of the number of different people in the target audience who are exposed at least once to an advertising message (PR LAP 5)

REACHING CLOSURE: The phase of the selling process in which the salesperson addresses customer objections and asks the customer to buy (SE LAP 48)

REACTIVE: Hesitant to take action; passive; waiting for changes to occur before acting (EI LAP 240, MN LAP 43, SM LAP 75)

REAFFIRMING BUYER-SELLER RELATIONSHIPS: The phase of the selling process which requires the salesperson to utilize techniques to follow up a sale to increase the customer's confidence in the buying decision (SE LAP 48)

REAL GDP: The final market value, adjusted for inflation, of the total output of all goods and services produced within a country's geographic boundaries during a year's time (EC LAP 9)
Gross domestic product that has been adjusted to account for inflation using a price deflator (EC LAP 1)

REAL ESTATE: An ownership investment in which individuals purchase property in buildings and land (FI LAP 77, QS LAP 32)

REAL ESTATE AGENT: An independent worker who works for a real estate broker on a contract basis; responsible for assisting both buyers and sellers in all aspects of the process of purchasing or selling property (QS LAP 51)

REAL ESTATE APPRAISER: A person who determines the value of a specific property; often specializes in a certain type of property (QS LAP 51)

REAL ESTATE BROKER: An independent business that sells real estate owned by others (QS LAP 51)

REBALANCE: Assign new proportions to segments of an investment portfolio (QS LAP 45)

REBATE: A return of part of the price a customer pays for a good or service; usually offered by the product's manufacturer (EC LAP 8, PR LAP 187)

RECEIPT-OF-GOODS DATING (ROG): A dating term indicating that the payment period begins the day the buyer’s firm receives the goods from the seller (PU LAP 3)

RECEIVING: The acceptance of a shipment of goods (DS LAP 5)

RECEIVING AREA: A specific area of a business set aside to receive incoming shipments of goods (DS LAP 4)

RECEIVING DEPARTMENT: The area of a business to which goods are delivered by vendors (DS LAP 3)

RECEIVING PLATFORM: The area in the receiving department where goods are unloaded from the carrier's vehicle; also called the loading dock (DS LAP 5)

RECEIVING PROCESS: All of the activities involved in accepting delivery of goods and preparing them for sale to customers (DS LAP 5)

RECEIVING RECORDS: Forms containing data about shipments of goods received by the business (DS LAP 5)

RECENCY BIAS: In investing, purchasing stocks based on recent (short-term) performance, not solid fundamentals (QS LAP 45)

RECEPTIVE: Welcoming; accepting; being willing to receive (HR LAP 8)

RECEPTIVITY: Openness to change and input from others (EI LAP 9)

RECESSION: A six-month contraction in GDP (EC LAP 1, EC LAP 3, QS LAP 40)
A periodic economic contraction during which trade and economic activity are reduced, usually identified by a fall in GDP for at least two successive quarters (EC LAP 9)
A state of economic decline (EC LAP 29, NF LAP 15)

RECIPIENT: Anyone to whom something is communicated or given; the receiver (PR LAP 8)

RECIPROCAL LINKING: An arrangement in which web sites agree to link to each other (PR LAP 16)

RECIPROCITY: A method of doing business in which sellers buy from their customers; illegal when required (SE LAP 129)

RECKLESS: A lack of caution; careless of consequences (PD LAP 2)

RECOGNITION: Special notice or attention; acknowledgement of something, usually of a positive quality or aspect of a person, effort, or contribution (EI LAP 141)

RECOGNIZE: To acknowledge or take notice of, as in recognizing a previous acquaintance; to acknowledge with special notice or attention, as in recognizing the efforts and contributions of others (EI LAP 141)

RECONCILIATION: A comparison of a business’s internal accounting records to external records of some kind (FI LAP 343)

RECORD KEEPING: The process of systematically recording, organizing, and destroying all the types of information necessary for a business's operational and financial decision making (NF LAP 1)

RECOURSE: Someone or something to which one can turn for help (PM LAP 4)

RECOVERY: A period of time in which an economy grows from recession to prosperity (NF LAP 15)

RECREATIONS, AMUSEMENTS, AND ATTRACTIONS: A career area in which employees are in charge of making sure customers have a great time while visiting parks, recreation areas, and other special attractions (Career Opps in Hosp)

RECRUITING: Seeking out and attracting qualified potential employees (EC LAP 71, HR LAP 35, SM LAP 4)

RECURRING COSTS: Expenses that occur regularly or are reasonably expected to “pop up” occasionally (FI LAP 11)

REDUNDANCY: Repeating a task that has already been done or that is no longer necessary (PD LAP 252)

REFERENCE GROUP: A group that an individual does not belong to but either aspires to be a part of or desires to disassociate him/herself with (MK LAP 14)

REFERENT POWER: The ability of a respected and admired individual to influence the behaviors of others (EI LAP 135)

REFERRAL METHOD: A method of prospecting in which a salesperson asks someone s/he know or someone who uses the product(s) to recommend them to others (SE LAP 116)

REFERRAL(S): Individuals or businesses to whom salespeople are recommended (SE LAP 115)
An individual or business to whom a salesperson is recommended (SE LAP 119)

REFLECT: To think carefully about something (EI LAP 136)

REFRESHER TRAINING: Training provided for experienced salespeople to reinforce previous training and keep them up to date (SE LAP 123)

REGISTERED MARK: A mark that has been registered with the U.S. Patent and Trademark Office for legal protection, designated by the symbol ® (PM LAP 14)

REGULAR CREDIT ACCOUNT: A credit account which allows credit users to buy at any time during a set period, usually 30 days; also called an open account (FI LAP 2)

REGULATED MONOPOLY: Monopoly that the government allows to exist legally (EC LAP 8)

REGULATIONS: An established set of rules (QS LAP 40)
Standards and rules that dictate how laws will be enforced (BL LAP 163)

REGULATORY FACTOR: A law or regulation that affects a business (SE LAP 932)

REIMBURSE: Pay back or refund money someone has spent (HR LAP 19)

REINFORCEMENT THEORY: A theory of motivation that is focused on the individual's environment and its consequences for the person; assumes behavior is learned from the environment rather than from one's inner needs (MN LAP 47)

RELATED PRODUCT CLOSE: A closing technique that uses products that go with the item being presented to help customers make buying decisions (SE LAP 895)

RELATEDNESS NEEDS: Desires for relationships with others (MN LAP 47)

RELATIONSHIP BUYING: The purchases a customer makes because of a long-term relationship s/he has established with a business (CR LAP 16)

RELATIONSHIP MARKETING: A strategy in which businesses spend time with current and prospective clients outside the office setting to enhance the partnership (SE LAP 321)

RELATIVE PRICE: One price compared to another; the ratio between two prices (EC LAP 12)

RELATIVE STRENGTH INDEX: Computation comparing gains and losses within a short time frame; used in technical analysis (QS LAP 49)

RELEVANT: Appropriate to the matter at hand (FI LAP 9)
Pertaining to the topic at hand (QS LAP 29)

RELEVANT VARIABLES: The types of information studied in a marketing research project (e.g., brand awareness, customer satisfaction, etc.); also known as constructs (IM LAP 282)

RELAY BRAINSTORMING A brainstorming technique that involves multiple individuals from competing teams responding in a certain order with no assistance from teammates (PM LAP 127)

RELIABILITY: How consistently a product performs over time (PM LAP 19)
Dependability (SE LAP 131)
The measure of how well a product performs its purpose without breaking down (QM LAP 1)

RELIABLE: Giving the same results every time (IM LAP 10)
Doing what you say you will do (EI LAP 16)

RELIGION: A system of personal beliefs influencing one's actions (EI LAP 36, IM LAP 9)

RELOCATION: Moving from one place to another (IM LAP 9)

REMEDIAL ACTION: A supervisory tool used to obtain desirable workplace behavior from employees by shaping or correcting employee behavior and attitudes (MN LAP 53)

REMINDER SERVICE: E-mail messages sent to help individuals remember an event or business (PR LAP 13)

RENTAL OR LEASE AGREEMENTS: Contracts in which one party takes possession of the property of another for a specific period of time for a certain amount of money (EC LAP 3)

RENTED-GOODS SERVICE: A product that involves giving consumers limited use of a good for a certain period of time (PM LAP 79)

REORDER POINT: The level of inventory at which an order for new stock should be placed (DS LAP 2, DS LAP 3)

REPAIRABILITY: How simple or inexpensive a product is to fix (PM LAP 19)

REPAYMENT RISK: The possibility of loss due to the repayment terms of a bond investment (QS LAP 33)

REPAYMENT TERMS: The way(s) a bond can be repaid (QS LAP 33)

REPEAT BUSINESS: Customers who continue to buy from a company, salesperson, etc. (SE LAP 117, SE LAP 130)

REPOSITION: To change the nature or image of a product to target a new or wider market (PM LAP 40)

REPRESENTATIVE: Typical (IM LAP 285)

REPRIMAND: A rebuke or scolding, usually from someone official (PD LAP 252)

REPUTATION: A business’s good name (CR LAP 10)
A person’s good name; quality of character (EI LAP 91, QS LAP 10)
A person’s or business’s good name (EI LAP 123, MK LAP 19)
A person’s or business’s good name; quality of character (EI LAP 129, SE LAP 130)

RESALE: The process of selling again (SE LAP 117)

RESEARCH: Investigation or inquiry (IM LAP 7, IM LAP 9, KM LAP 2)

RESEARCH AND DEVELOPMENT: Activities involved in gathering information and creating goods and/or services based on that information (OP LAP 25)

RESEARCH DESIGN: A master plan detailing how research will be carried out; identifies types of data needed, how much data to collect, where to find the data, what data-collection methods to use, and how data will be analyzed (IM LAP 10)

RESEARCH OBJECTIVE: A formal statement of what a marketing research study will achieve (IM LAP 282)

RESEARCH PROBLEM: A question that asks what needs to be done to solve a decision problem (IM LAP 282)

RESENTMENT: A feeling of bitterness that you have been treated unfairly (EI LAP 75)

RESIDENTIAL INVESTMENT: The money landlords invest in the buildings and the equipment they own and rent to others (EC LAP 1)

RESILIENCE: The ability to recover from setbacks or obstacles (PD LAP 12)

RESIST: To oppose or dispute (EI LAP 23, QS LAP 15)

RESISTANCE: The act or capacity for resisting, opposing, or withstanding (EI LAP 134, HR LAP 8, QS LAP 23)
Opposition (EI LAP 22)

RESOLUTION: The outcome of a conflict (EI LAP 7)

RESOURCE(S): Any item that is used to accomplish another activity, such as producing/providing goods and services (EC LAP 17, EC LAP 71, IM LAP 7, QS LAP 12, SM LAP 7)
Any item that is used to produce goods and services (EC LAP 6, MP LAP 2)
An item or person that can be tapped (or used) to accomplish an objective (QS LAP 22)
Items that are needed to complete a project (QS LAP 18, QS LAP 19, QS LAP 28)
Items that can be used to produce goods and services (SM LAP 3)
Items that are used to accomplish another activity, such as producing/providing goods and services (EC LAP 2)
The items you need to complete a project (OP LAP 531)

RESOURCE OWNERS: Those who provide human resources, natural resources, and capital goods in order for production to take place (EC LAP 6, EC LAP 12, EC LAP 14)

RESOURCEFULNESS: The ability to act imaginatively when new ideas or solutions are required (EI LAP 240)

RESPECT: Regard or esteem (CR LAP 1, EI LAP 19, EI LAP 21, EI LAP 75, EI LAP 131, QS LAP 4, QS LAP 8)
Regard or esteem; honoring the rights, freedoms, views, and property of others (EI LAP 4, EI LAP 36, EI LAP 45, EI LAP 123, EI LAP 124, EI LAP 125, EI LAP 126, EI LAP 127, EI LAP 128, EI LAP 129, EI LAP 132, EI LAP 138, EI LAP 139, KM LAP 2, OP LAP 675, PD LAP 251)
Honoring the rights, freedoms, views, and property of others (EC LAP 106, EI LAP 77, RM LAP 41)

RESPECTFUL: Displaying reverence or politeness (EI LAP 136)

RESPONDENT: In marketing research, a person who answers questions or supplies data (IM LAP 17)

RESPONSIBILITY: Fulfilling one’s obligations in a dependable, reliable manner (EC LAP 106, EI LAP 16, EI LAP 123, EI LAP 128, EI LAP 129, EI LAP 131, FI LAP 351, QS LAP 8)
The duty to get a job done (EC LAP 103)
Taking ownership of your behavior and the consequences of your behavior (EI LAP 138)
Being accountable for all of one’s own decisions and actions (EI LAP 75)

RESPONSIBILITY CHART: A project-planning tool that shows who is responsible for accomplishing the tasks required for completing a project (QS LAP 28)

RESPONSIBLE BEHAVIOR: Words and actions associated with fulfilling one's obligations in a dependable, reliable manner (EI LAP 21)

RESPONSIVENESS: The ability to react quickly and helpfully to customers' needs and questions (PM LAP 19)
The level of promptness and willingness with which a service is provided (QM LAP 1)

RESTAURANT AND FOOD/BEVERAGE SERVICES: A career area in which employees keep restaurants running by purchasing, preparing, and serving food, among other duties (Career Opps in Hosp)

RESTRAINT: A dimension of national culture that refers to the tendency to exercise self-control over desires or regulate enjoyment (EC LAP 45)

RESULTS-ORIENTED GOAL: A goal that is focused on the outcome–and on the performance that brings about that outcome (QS LAP 22)

RETAIL INSTALLMENT SALES ACTS (RISA): State laws governing installment sales of personal property (FI LAP 2)

RETAILER(S): A business that buys consumer goods or services and sells them to the ultimate consumer (CM LAP 2, CM LAP 3, EC LAP 13, EC LAP 70, FI LAP 106, IM LAP 9, OP LAP 2, PR LAP 1, SE LAP 117, SE LAP 119)

RETAILING: A career that involves providing a product directly to the ultimate consumer (CD LAP 2, PM LAP 139)

RETAIN: Keep (SM LAP 4)

RETENTION: An organization’s ability to keep its customers or its employees from going elsewhere (KM LAP 1)

RETIREMENT PLAN: An investment program for use after an investor has ceased working (QS LAP 45)

RETROACTIVE RISKS: Risks that have previously occurred (SM LAP 75)

RETURN: Income received from an investment (EC LAP 3)
The reward or benefit received in return for an investment (FI LAP 77, QS LAP 32)

RETURN ON CAPITAL: A measure of how well a business generates cash flow in relation to the capital it has already invested in itself (FI LAP 7)

RETURN ON EQUITY: Financial ratio calculated by dividing net income by book value (SM LAP 7)
Financial ratio that shows how much profit results from each dollar of investment; calculated by dividing net income by book value (QS LAP 42, QS LAP 43, QS LAP 44, QS LAP 46)

RETURN ON INVESTMENT: A profit-oriented pricing objective in which the business bases the amount of profit it wants to earn on the amount of its capital investment (MN LAP 50, PI LAP 3)
Net profit divided by investment or the "bottom line" on how successful an ad or campaign was in terms of what the returns (generally sales revenue) were for the money expended (invested) (PR LAP 175)
Financial ratio calculated by dividing net profit by investment (SM LAP 7)

RETURN ON SALES: A profit-oriented pricing objective in which the business bases the amount of profit it wants to earn on the amount of its sales; often called target return (PI LAP 3)

RETURNS: Goods that are taken back to a business because the customers are dissatisfied with the goods for some reason (DS LAP 4)

REVENUE: Income; often used to refer to government's income from various taxes (EC LAP 3)
Income (EN LAP 38, FI LAP 99)

REVENUE(S): Sales or gross income (EC LAP 71, QS LAP 38)
The total amount of money earned by a business; income (FI LAP 4)

REVERSE BRAINSTORMING: A problem-solving tool used to generate ideas and possible solutions; instead of identifying ways to solve a problem, identifying ways to make the problem worse (PD LAP 77, QS LAP 26)
A brainstorming technique that involves looking at a problem from the opposite point of view to generate solutions (PM LAP 127)

REVITALIZE: To restore the life or energy to something (PD LAP 2)

REVOLVING CREDIT ACCOUNT: A type of credit account that limits the total amount of money that may be owed and charges interest on outstanding balances (FI LAP 2)

REWARD: A tangible item that is given in return for someone’s service or accomplishment (EI LAP 141)

REWARD POWER: The use of incentives and prizes to motivate someone to complete a desired task (EI LAP 135)

REWARD TECHNIQUE: Positive reinforcement given for showing self-control (EI LAP 14)

RICH MEDIA E-MAIL: An electronic message that contains such things as graphics, sound, video, and animations (PR LAP 14)

RIGHT OF FIRST REFUSAL: An element of a sponsorship agreement that says that the event organizers will allow the sponsor the opportunity to renew the contract before offering it to any other sponsors (BL LAP 58)

RIGHT OF PRIVACY: A type of law that protects a person mentally and emotionally; prevents intrusion upon a person’s seclusion, giving a person an unreasonable amount of publicity, or placing a person in a false light (BL LAP 58)

RIGHT OF PUBLICITY: A type of law that protects a person financially; prevents the unauthorized use of a person’s name and likeness for financial gain (BL LAP 58)

RIGHT-TO-WORK LAWS: Legislation that prohibits the requirement of employees to join a union (EC LAP 5)

RIGID: Unbending; stiff (HR LAP 4)

RIM: Outer edge (HR LAP 4)

RISK: The possibility of loss (failure) or gain (success) (EC LAP 3, EI LAP 91, EI LAP 92, HR LAP 8, KM LAP 2, OP LAP 1, OP LAP 520, OP LAP 675, RM LAP 41, SM LAP 75)
The possibility of loss or failure (CM LAP 2, EC LAP 2, EC LAP 106, EI LAP 27, EI LAP 134)
The possibility of investment loss (FI LAP 77, QS LAP 32, QS LAP 41)

RISK ANALYSIS: An assessment of a project’s potential risks and challenges, performed by project managers to better prepare for minimizing the effects (OP LAP 158)

RISK-AVERSE: Having a negative attitude toward risk (FI LAP 77)
Avoiding risk whenever possible (SM LAP 75)

RISK CHECKLIST: A standardized list of risks that a business faces on a regular basis; used to speed up the risk-identification process (SM LAP 75)

RISK IDENTIFICATION: A risk-management process that involves recognizing risks that could impact a business’s objectives and activities (SM LAP 75)

RISK IMPACT/PROBABILITY CHART: A framework used to determine the severity of risks if they occur; used by risk managers to prioritize risks (SM LAP 75)

RISK MANAGEMENT: A business activity that involves the planning, controlling, preventing, and limiting of business losses and enhancing possibilities for gain (RM LAP 41, SM LAP 75)
A business activity that involves the planning, controlling, preventing, and procedures used by management to limit business losses; optimizes the relationship of potential loss to gain (OP LAP 519)

RISK-MANAGEMENT PLAN: A business document that involves the planning, controlling, preventing and procedures involved in limiting business losses; optimizes the relationship of potential loss to gain.
(SM LAP 7)
In project planning, a document that contains strategies for avoiding or limiting potential risks to project success (OP LAP 1)

RISK MEASUREMENT: A risk-management process that involves determining the potential severity of different risks (SM LAP 75)

RISK MONITORING AND CONTROL: A risk-management process that involves determining the effectiveness of current risk-response strategies and tools, tracking existing risks, monitoring new risks, and developing responses and workarounds for previously unidentified risks (SM LAP 75)

RISK PYRAMID: A triangular-shaped graphic showing different investments and their risk levels (QS LAP 32)

RISK REGISTER: A record or listing of risks that could potentially impact a business or project (OP LAP 520, SM LAP 75)

RISK RESPONSE: A risk-management process that involves selecting the most effective ways to handle different risks (SM LAP 75)

RISK/RETURN TRADEOFF: A principle that says an investor will earn more from money that is invested at a higher risk; used to determine a “comfortable” balance between an investment’s risk and return (QS LAP 45)

RISK-SEEKING: Looking for ways to turn risk into a strategic advantage and/or capital (SM LAP 75)

RISK-TAKING: Understanding and accepting the responsibility of not knowing the outcome of your actions (EI LAP 23, QS LAP 15)

RISK-TAKING ABILITY: Understanding and accepting the responsibility of not knowing the outcome of your actions (PD LAP 126)

RISK TOLERANCE: A measure of how much risk an investor is willing to accept in exchange for potentially high returns (QS LAP 41)

RISK-TOLERANT: Accepting risk when necessary, but not seeking risk (SM LAP 75)
Having a positive attitude toward risk (FI LAP 77)

ROBBERY: Theft that involves the use of force, violence, or fear (RM LAP 4)

ROBINSON-PATMAN ACT: A federal regulation that prohibits price discrimination (EC LAP 8)
A federal law that prevents price discrimination (PI LAP 47)

ROBOTICS: A mass production technique in which robots carry out the repetitive tasks that workers would find monotonous and tiring (OP LAP 17)

ROBUST DESIGN: An approach to quality management that focuses on product research, design, and development, rather than manufacturing; also called the Taguchi method (OP LAP 8)

ROLE MODEL: A person whose behavior is imitated by others (EI LAP 4, EI LAP 16, EI LAP 17, EI LAP 124, QS LAP 16, QS LAP 27)
A person whose behavior is imitated by others; people whom you admire and look to as guides for your choices and actions (EI LAP 132)

ROLE PLAYING: An instructional method in which trainees are presented a situation and are given roles to play, but no script is involved (MN LAP 50, SE LAP 123)

ROLES: Parts or positions that one plays in life in response to the various demands of society (i.e., child, student, worker, parent, etc.) (HR LAP 12)

ROLLING BUDGET: Also called a continuous budget, a rolling budget replaces each passing month with a new month added to the end of the budget, so that there is always a year-long budget in place (FI LAP 99, FI LAP 106)

ROTH IRA: A non-tax-deferred retirement plan; contributions are made with after-tax income, but investors avoid capital gains taxes and owe no money at the time of withdrawal (QS LAP 41)

ROUND LOTS: In investing, an order restriction that instructs a broker to trade shares in multiples of 100 (QS LAP 47)

ROUND-ROBIN BRAINSTORMING: A brainstorming technique that requires participants to respond quickly and only when it’s their turn (PM LAP 127)

ROUTINE DECISION: A type of decision that doesn’t require much (or any) consideration (EI LAP 91, PD LAP 17, QS LAP 2)

ROUTINELY: Done on a daily basis (HR LAP 4)

ROUTING: The production activity that determines the sequence for the steps in the production process (OP LAP 17, OP LAP 189)

ROYALTY: Fees paid to a parent company that are often based on a percentage of the franchise’s profits; a percentage of actual sales that a licensee pays to a licensor; usually anywhere from 5 to 15% (BL LAP 1)
A percentage of actual sales that a licensee pays to a licensor; usually anywhere from 5–15% (EC LAP 104, PM LAP 139, PM LAP 14, SM LAP 7)
A percentage of actual sales that a licensee pays to a licensor (FI LAP 99)

RULE: An explicit or understood regulation or principle governing conduct within a particular activity or sphere (PD LAP 251)

RULE OF 72: Equation that tells you how long it will take to double your money at a given interest or return rate (QS LAP 30)

RULE OF LAW: Complying with laws and regulations (EI LAP 4, EI LAP 123, EI LAP 124, EI LAP 125)
Philosophically, the principle that explains that laws, rather than individuals or governments, should govern society because the law exists to serve, represent the interests of, and protect the rights of all people, rather than just those in power; in layman’s terms, complying with rules and regulations (BL LAP 163, EI LAP 139)
Complying with the spirit and intent of laws and regulations (FI LAP 355, IM LAP 25)

RUN OF PAPER (ROP): Print media space-purchase option that allows the publisher to place the advertisement anywhere in the publication and the advertiser to receive a lower rate (PR LAP 6)

RUN OF SCHEDULE (ROS): Broadcast media time-purchase option that allows the station to run the spot at its convenience and the advertiser to receive a lower rate (PR LAP 6)

RUTHLESS: Willing to win at any cost (EI LAP 27)

S

S&P 500: Standard & Poor’s Index 500; an index tracking the averages of 500 large-cap stocks in the U.S (QS LAP 40)

SABOTAGE: Interfering with a process or plan in an underhanded manner (SE LAP 129)

SAFE HAVEN: An investment or currency considered to be strong and stable in an uncertain market (EC LAP 30)

SAFETY: Freedom from danger, risk, or injury (RM LAP 2)

SAFETY HAZARD: Any situation that has the potential to cause bodily harm (RM LAP 2)

SAFETY NEEDS: The need for security and safety (EI LAP 59)

SAFETY STOCK: Extra stock purchased to prevent stockouts (DS LAP 2, DS LAP 3)

SAFETY/SECURITY NEEDS: Desires to be free of the fear of physical danger and deprivation of basic physiological needs; second level of needs in Maslow's Hierarchy of Needs (MN LAP 47)

SALARIES: Money payments for labor (EI LAP 25)

SALE PRICING: Pricing items at low levels and promoting them for a limited period of time (PI LAP 1)

SALES: A career that involves responding to consumer needs and wants through planned, personalized communications intended to influence purchase decisions and ensure satisfaction (Career Opps in Marketing, CD LAP 2, SE LAP 130)
Total sales figures for a given period that are not adjusted for expenses; also known as revenue(s) or gross income (QS LAP 38, QS LAP 42, QS LAP 43)

SALES AND MARKETING EXECUTIVES INTERNATIONAL: An organization whose members are executives concerned with sales and marketing management, research, training, etc. Address: Statler Office Tower, No. 458, Cleveland, OH 44115 (CD LAP 1)

SALES CHECK: Form used to record information about specific sales transactions (DS LAP 3)

SALES CLOSE: The point in a sales presentation at which the customer makes a favorable buying decision (SE LAP 117, SE LAP 130, SE LAP 875)
The point in the selling process at which the customer makes a favorable buying decision (SE LAP 895)

SALES COMMISSION: An amount a salesperson earns per sale, either a percentage or a flat rate (OP LAP 9)

SALES DIALOGUE: Discussion between the salesperson and the customer during the sales presentation in which the salesperson describes the product's features and customer benefits (SE LAP 117, SE LAP 374)

SALES FINANCE COMPANY: A business that purchases borrowers' contracts from sellers and receives the borrowers' payments (FI LAP 2)

SALES FORCE COMPOSITE: A qualitative sales forecasting method that gathers opinions from the sales force (IM LAP 4)

SALES FORECAST: A prediction of future sales over a specific period of time (FI LAP 106, IM LAP 2, IM LAP 3, IM LAP 12, MP LAP 5)

SALES GROWTH: The increase or decrease in sales over a specific period of time; calculated by dividing the change in sales by sales at the beginning of the period (QS LAP 43, QS LAP 44, QS LAP 46)

SALES INCOME: Money a business makes from selling its goods and/or services (FI LAP 99)

SALES INVOICE: An itemized statement of money owed for a good or service (IM LAP 12, IM LAP 184)

SALES LEAD GENERATION: The act of finding potential customers (SE LAP 48)

SALES LEAD QUALIFICATION: The act of determining if a potential customer has the interest, ability, and authority to buy a product (SE LAP 48)

SALES MANAGEMENT SURVEY OF BUYING POWER: A yearly publication that gives market and sales data broken down by region, state, county, metropolitan statistical areas, and towns of more than 25,000 (IM LAP 4)

SALES OPENING: The beginning step in a selling process when the customer and the salesperson first communicate (SE LAP 117)

SALES-ORIENTED PRICING: A category of pricing objectives that focus on increasing total amount of income from sales (PI LAP 3)

SALESPERSON: An individual employed to advance and/or facilitate the exchange of a good or service (SE LAP 130, EC LAP 13)

SALES PRESENTATION: The sales procedure in which the salesperson shows the customer the benefits of the product’s features; includes the sales dialogue and product demonstration (SE LAP 48, SE LAP 117, SE LAP 130, SE LAP 131, SE LAP 374, SE LAP 895, SE LAP 932)
Part of the selling process in which the salesperson shows the customer the benefits of a product’s features; includes sales talk and product demonstration (SE LAP 115)

SALES PROMOTION: Promotional activities (other than advertising, personal selling, and publicity) that stimulate customer purchases (IM LAP 7, MK LAP 1, MK LAP 4, MP LAP 2, PR LAP 1, PR LAP 187)

SALES QUOTAS: Specific selling goals set for members of the sales force (IM LAP 4, MP LAP 5, SE LAP 118, SE LAP 932)

SALES REPORT: A comprehensive record of sales activities over a period of time (IM LAP 184)

SALES REVENUES: Money that comes in to the business from the sale of goods and services; also called income from sales (PI LAP 4)

SALES TAX: A tax collected from consumers at the point of purchase; usually a percentage of the total sale (EC LAP 27)

SALES TRAINER: A company employee or an outside consultant selected to deliver a sales training program (SE LAP 123)

SALES TRAINING: A systematic process for enabling salespeople to acquire the attitudes, knowledge, and skills that are needed in order to attain organizational goals (SE LAP 123)

SALES VOLUME: The amount of a firm’s sales, usually expressed in dollars (IM LAP 3, PI LAP 3, SM LAP 7)

SALES VOLUME ANALYSIS: A breakdown of sales volume data that allows a company to measure its actual sales against a number of different criteria (IM LAP 184)

SALES-VOLUME QUOTAS: Quotas based on sales or some aspect of sales volume; expressed in terms of dollars, physical units, or points (SE LAP 118)

SALESPERSON: An individual employed to advance and/or facilitate the exchange of a good or service (EC LAP 13, SE LAP 130)

SAMPLE: A representative group of units within a target population from whom researchers obtain data for a study (IM LAP 285)
A subset of the population (IM LAP 281)

SAMPLE DESIGN: A method for selecting sampling units out of the target population (IM LAP 285)

SAMPLING: The process of choosing a representative group of consumers to survey (IM LAP 10)
The process of drawing a representative “slice” of the target population to study for marketing-research purposes (IM LAP 285)

SAMPLING ERROR: Any mistake in sample size or selection (IM LAP 285)
Statistical error in a research study (EC LAP 28)

SAMPLING PLAN: An outline for the sampling process that ensures that a truly representative sample of the population can be drawn in the most efficient way possible with the lowest potential for error (IM LAP 285)

SAMPLING UNIT: An individual element of a target population (IM LAP 285)

SANCTIONING BODIES: Groups or organizations that regulate sports and sports participants (MK LAP 12)

SANCTIONS: Financial penalties or fines (CM LAP 2)

SARBANES-OXLEY ACT: A U.S. regulation mandating that public businesses comply with specific accounting requirements (EC LAP 106, NF LAP 1, NF LAP 110)

SARBANES-OXLEY ACT OF 2002: Legislation passed by the U.S. Congress intended to protect investors from corporate accounting fraud; also known as the Public Company Accounting Reform and Investor Protection Act (QS LAP 50)

SATISFACTION: Feeling fulfilled after accomplishing a task or objective (QS LAP 5)

SATELLITE: An object placed into orbit by humans; most are used for communications purposes (NF LAP 4)

SAVING: Taking a portion of your current income and putting it away to use in the future (QS LAP 30)

SAVINGS ACCOUNTS: Lending investments in which individuals lend money to a bank to earn interest (FI LAP 77, QS LAP 32, QS LAP 40)

SAVINGS AND LOAN ASSOCIATION: A financial institution which offers savings accounts and makes loans to borrowers, most of which are for real-estate purchases (FI LAP 2)

SAVINGS BANK: A financial institution that offers savings accounts and makes loans to borrowers, most of which are for real-estate purchases; also known as a savings and loan or a mortgage bank (QS LAP 51)

SAVINGS BONDS: Non-marketable bonds offered by the U.S. government (QS LAP 33)

SCALABILITY: The ability to quickly adjust and align an organization’s people and resources in response to market change; an aspect of organizational agility (EC LAP 107)

SCALAR PRINCIPLE: Creating authority that flows in a clear, continuous line (EC LAP 103, SM LAP 64)

SCALE: Degree of size (QS LAP 22)

SCAM: A plan to gain money by deceiving people (SE LAP 129)

SCANNER: The wand or electronic screen that "reads" UPC codes found on products and enters product information into the computer (DS LAP 2, IM LAP 10)

SCARCE: Limited (EC LAP 8, EC LAP 10, SE LAP 117)

SCARCITY: A condition resulting from the gap between limited resources and unlimited wants for goods and services (EC LAP 6, EC LAP 17)

SCATTER DIAGRAM: A graphical representation of two variables that is used to determine cause and effect (OP LAP 8)

SCHEDULES: Plans that list the order of activities and completion times; timetables (QS LAP 18)

SCHEDULING: The production activity that establishes the timetable to be followed in production (OP LAP 17, OP LAP 189)
The process of arranging, controlling, and optimizing your time to be as productive as possible (EI LAP 77)

SCOPE: The number of tasks involved in a job and the frequency with which they occur (EC LAP 7)
What a project will and will not include (OP LAP 158, OP LAP 519, OP LAP 520, OP LAP 521, OP LAP 675)

SCREENING: Reviewing in order to make a decision as to what should be kept and what should be discarded (PM LAP 17)

SCREENREADER: A device that reads words appearing on a computer screen (BA LAP 5)

SEARCH ENGINE: Software program that automatically crawls the Web looking for information pertaining to specified search terms and displays a list of results (BA LAP 3, PM LAP 9, PR LAP 6)

SEARCH ENGINE LISTING: An online advertisement appearing in a list of websites generated by a search engine in response to a keyword(s) (PR LAP 1)

SEARCH ENGINE OPTIMIZATION: The process of designing and submitting web pages so that they can be found easily by spiders in order to obtain a good position in the search results (PR LAP 16)

SEARCH ENGINES: Software programs that automatically crawl the Web looking for information pertaining to specified search terms and display a list of results (PR LAP 16)

SEASON TICKET SALES: In sports, the marketing of “full memberships” or complete season-long ticket packages to individuals or companies (PD LAP 51)

SEASONAL DISCOUNT: A deduction from the seller’s price for ordering products in advance of the season; a time-based discount (PU LAP 3)

SEASONAL GOODS: Goods appropriate to a particular season of the year, e.g., lawn mowers or Christmas ornaments (DS LAP 3)

SEASONAL UNEMPLOYMENT: A type of structural unemployment that affects seasonal employees, such as farm workers, lifeguards, ski-resort employees, tax-return preparers, etc. (EC LAP 29)

SECONDARY CIRCULATION: The number of pass-along readers of a publication who do not purchase the publication (PR LAP 6)

SECONDARY DATA: Facts and figures that have been collected for purposes other than the project at hand (IM LAP 10, IM LAP 184)
Facts, figures, and statistics that have been collected for purposes other than the project at hand (IM LAP 282)
Information that has been collected for purposes other than the project at hand (IM LAP 281)

SECONDARY DIMENSIONS OF DIVERSITY: Differences that may change at various points throughout one’s lifetime; include such characteristics as language, religion, income, geographic location, family status, work experience, communication style, and education level (EI LAP 33)

SECONDARY INFORMATION: Marketing information developed from data that have already been collected by others (IM LAP 2, IM LAP 25)

SECONDARY MARKET: In investing, a place where investors can buy and sell securities that have been issued by a corporation (QS LAP 34, QS LAP 47)

SECONDARY NEEDS: Desires for things that the body can live without; learned desires (MN LAP 47)

SECONDARY PRODUCT PROMOTION: A kind of product promotion intended to stimulate demand for a particular brand of a product (PR LAP 4)

SECONDARY RESEARCH: Research that collects facts specifically for the problem or project at hand (IM LAP 285)

SECTOR: A subset of the economy in which companies share related products or services; sectors are broader than industries and include things like energy, health care, consumer goods, etc. (QS LAP 42, QS LAP 45)

SECURE CONNECTION: A link between a customer’s computer and a merchant’s computer that cannot be hacked into to obtain private information (PR LAP 15)

SECURE ELECTRONIC TRANSACTION (SET): A security measure that protects online credit-card transactions using encryption and a mechanism by which account information can only be read by the customer’s credit-card company (BA LAP 4)

SECURE SOCKETS LAYER (SSL): A security measure that protects online credit-card transactions using encryption and a mechanism by which only the merchant’s software is able to unscramble the data (BA LAP 4)

SECURED BONDS: Bonds that are “guaranteed” to be repaid—by backing from collateral or a mortgage, for instance (QS LAP 33)

SECURED LOAN: A type of loan in which the borrower pledges to the lender some valuable possession as collateral, or security, to guarantee that the loan will be repaid (FI LAP 2)

SECURED PAYMENT SYSTEM: A method for protecting online credit-card transactions that uses encryption and/or a mechanism by which account information can only be read by specified parties (PR LAP 15)

SECURITIES: The legal owning or lending agreements between individuals, businesses, or governments (FI LAP 77, QS LAP 32, QS LAP 46)
Stocks, bonds, and other investments (EC LAP 30)

SECURITIES ACT OF 1933: Legislation passed by the U.S. Congress as the result of the stock market crash of 1929; compelled public companies to be truthful about their finances and established laws against fraudulent activities (QS LAP 50)

SECURITIES AND INVESTMENTS INDUSTRY: The total of businesses consisting of brokerage firms, investment banks, and stock exchanges, all of which support the flow of funds from investors to companies and institutions (Career Opps in Finance, PD LAP 15)

SECURITIES AND EXCHANGE COMMISSION (SEC): Federal agency that regulates the financial markets; charged with protecting the investing public from fraud or malpractice (QS LAP 36, QS LAP 39, QS 50)

SECURITIES EXCHANGE ACT OF 1934: Legislation passed by the U.S. Congress intended to govern securities trading on the secondary market; created the Securities and Exchange Commission (QS LAP 50)

SECURITY: Techniques for protecting information stored on computers or in transit over the Internet (BA LAP 4)

SECURITY PROBLEMS: Activities that threaten the security of the business or its property (RM LAP 4)

SEGMENT: One of the groups into which the total market is divided; also known as market segment (MP LAP 5)

SEGMENT MARKETING: The classification of customers into similar groups to appeal to one or more individual segment(s) (MP LAP 3)

SELECTIVE BINDING: Printing technique that involves placing different sections of targeted advertising and editorial information in specific editions of a magazine (PR LAP 6)

SELECTIVE DISTRIBUTION: A distribution pattern is which a producer sells a product through a limited number of middlemen in a geographic area (CM LAP 2)

SELF-ACTUALIZATION NEEDS: Desires to maximize an individual's potential; desires to become all that one is capable of becoming at that point in time; fifth level of needs in Maslow's Hierarchy of Needs (MN LAP 47)
The need to achieve one’s full potential; the need to feel personally fulfilled (EI LAP 59)

SELF-AWARE: Conscious of one’s own strengths, weaknesses, and emotions (PD LAP 66)

SELF-AWARENESS: A person’s knowledge of his/her own emotions (EI LAP 1, EI LAP 16)
The ability to recognize the effect you have on the people and situations around you (EI LAP 75)
Understanding the influence and effect you have on others (EI LAP 137)

SELF-CONCEPT: Your image of yourself; the way(s) in which you see yourself (HR LAP 2, HR LAP 12)
How you see yourself (PD LAP 2)

SELF-CONFIDENCE: A positive belief in your own talents, skills, and objectives (EI LAP 1, EI LAP 9, EI LAP 16, EI LAP 18, EI LAP 92, EI LAP 240, PD LAP 15, QS LAP 14)
A sense of trust and belief in your own judgments and abilities (EI LAP 75)

SELF-CONTROL: Restraint of your feelings, words, and actions (EI LAP 1, EI LAP 9, EI LAP 14, EI LAP 15, QS LAP 4, QS LAP 8, QS LAP 14, QS LAP 20)
The ability to restrain your emotions and actions appropriately (EI LAP 75)

SELF-DIRECTED WORK TEAM: A team on which all individual members work together without the supervision of a leader (EI LAP 45)

SELF-DISCIPLINE: The ability to stay committed to important tasks even when it’s difficult (EI LAP 75)

SELF-EMPLOYED: An individual who is her/his own boss (PD LAP 66)

SELF-EMPLOYMENT TAX: Money that a self-employed person must pay to the federal government to fund Medicare and Social Security; the equivalent of a business's payroll tax (EC LAP 27)

SELF-ESTEEM: How you feel about yourself at any given time (EI LAP 17, EI LAP 18, HR LAP 2, HR LAP 4, HR LAP 12, QS LAP 4)
The way a person feels about him/herself at any given time (EI LAP 15, QS LAP 20)
The feelings you have about yourself related to your self-concept (PD LAP 2)
Self-respect (EI LAP 75)

SELF-ESTEEM NEED: Desire for high self-esteem and recognition from others (EI LAP 141)

SELF-IMAGE: The way a person feels about him/herself (PI LAP 1)

SELF-INFORMATION: Facts about yourself (HR LAP 2)

SELF-INTEREST: Concern for what interests or profits oneself (QS LAP 17)

SELF-MANAGEMENT: The ability to direct and control one’s emotions in a purposeful way (EI LAP 1, EI LAP 16)

SELF-MOTIVATION: An inner drive to complete tasks and accomplish goals (EI LAP 9)

SELF-OBSERVATION: An evaluation of one’s own conduct in order to identify strengths, weaknesses, and/or problem behavior(s) (EI LAP 14)

SELF-SERVICE STORE: A business in which customers usually help themselves and need not be approached at all (SE LAP 101)

SELF-SERVING: Giving priority to one's own interests (MN LAP 47)

SELF-UNDERSTANDING: Comprehending one's own interests, abilities, values, attitudes, and personality traits and recognizing their effects on one's behavior; knowing yourself (HR LAP 2)

SELL ORDER: In investing, an instruction to a broker to sell a particular stock or security (QS LAP 47)

SELLER'S MARKET: The best time for producers to sell; characterized by large demand, small supply, and high prices (EC LAP 11, EC LAP 12)

SELLING: A marketing function that involves determining client needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities (BA LAP 3, MK LAP 1, PD LAP 15, SE LAP 117)

SELLING AID: An item a salesperson can use to help demonstrate a product, such as a graph, a chart, or a customer testimonial (SE LAP 374)

SELLING POINT: A valid reason for buying (SE LAP 874)

SELLING POLICIES: General rules established by management to guide the personal-selling effort (SE LAP 932)

SELLING PRICE: The amount a seller charges the purchaser for a good or service (PI LAP 3, PI LAP 4)

SELLING PROCESS: A systematic approach to selling that consists of a sequence of selling phases intended to assist salespeople in achieving their goal of making a sale (SE LAP 48)

SELLING SHORT: In investing, an attempt to earn a profit by borrowing securities in anticipation of a price drop, selling the shares, buying them back, and returning them to the lender (QS LAP 47)

SELLING SKILLS: The ability to determine customers' needs, wants, and buying motives; to open and close sales; to question customers; to handle customer objections; suggest additional or substitute items; demonstrate products; and follow up sales (SE LAP 117, SE LAP 123)

SELLING-ACTIVITY POLICIES: Guidelines for selling activities that involve interaction with customers or potential customers (SE LAP 932)

SEMI-FIXED COSTS: Expenses that are fixed until the company reaches a certain level of production, then become variable; also called mixed costs or semi-variable costs (OP LAP 9)

SEMIVARIABLE COSTS: Business costs that vary to some extent in response to sales (PI LAP 4)
Expenses that are fixed until the company reaches a certain level of production, then become variable; also called mixed costs or semi-fixed costs (OP LAP 9)

SENIORITY: The amount of time an employee has worked for a company (EC LAP 5)

SENSITIVE: Aware of and responsive to the feelings of others (EI LAP 30)

SENSITIVITY: Responsiveness to the feelings of others (QS LAP 8)

SENSITIVITY ANALYSIS: A method of measuring how much a change in one variable will affect another variable (FI LAP 99)

SENSITIVITY TRAINING: An instructional method in which trainees learn how their behavior affects other people; goal is to develop sensitivity and trust (MN LAP 50)

SENTENCE FRAGMENT: A group of words that does not present a complete thought (PR LAP 9)

SEPARABILITY: A product's ability to be considered apart from its provider (PM LAP 79)

SEPARATION OF DUTIES: The dividing of accounting responsibilities so that no one person over-sees the lifespan of a single financial transaction (FI LAP 343)

SEQUENTIAL: In logical order, as in first, second, and third (QS LAP 24)

SERIES 7 EXAM: Licensing requirement for brokers in the United States (QS LAP 48)

SERIES 63 EXAM: Licensing requirement for brokers in the United States (QS LAP 48)

SERIES DISCOUNT: Two or more discount percentages quoted in succession (PU LAP 3)

SERIES EE SAVINGS BONDS: Non-marketable U.S. bonds that do not make interest payments before maturity (QS LAP 33)

SERIES HH SAVINGS BONDS: Non-marketable U.S. bonds that make interest payments before maturity (QS LAP 33)

SERVER: A computer hardware system that hosts an organization’s intranet (KM LAP 1)

SERVICE(S): Intangible activities that are performed by other people for money; productive acts that satisfy economic wants (CM LAP 3, EC LAP 10, EC LAP 13, MK LAP 15, MK LAP 4, OP LAP 17, PM LAP 3, PM LAP 17, PM LAP 79, PR LAP 2, SE LAP 117, SM LAP 13)
Intangible activities that are performed by people in exchange for money; productive acts that satisfy economic wants (EC LAP 1)
An intangible object that can be sold (e.g., haircuts, insurance, dry cleaning, etc.) (EC LAP 6, SE LAP 119)
Intangible activities that are performed by other people for money (OP LAP 2, PM LAP 140)

SERVICE APPROACH: A polite question that indicates willingness to be of service to the customer (SE LAP 101)

SERVICE ATTITUDE: A salesperson's commitment to the client's needs as expressed through his/her professional behavior (SE LAP 115)

SERVICE BUSINESS: A type of business that performs intangible activities that satisfy the wants of consumers or industrial users (EC LAP 18, EC LAP 70, FI LAP 106, OP LAP 189)

SERVICE CREDIT: Credit used for utilities that have been consumed but not yet paid for (FI LAP 2)

SERVICE MARK: A word, name, symbol, or device used to identify and distinguish a company's services, including a unique service, from those of another service provider (PM LAP 14)

SERVICE MARKETING: A career that involves performing acts to satisfy needs and wants (CD LAP 2)
A career that involves performing acts to satisfy needs and wants; marketing products that are intangible (Career Opps in Marketing)

SERVICE POLICIES: Guidelines governing the support a company provides to the customer after the sale through return, repair, and installation policies (HR LAP 25)
Guidelines governing the support a company provides to the customer after the sale (SE LAP 932)

SERVICEABILITY: The measure of how easy a product is to fix and maintain (QM LAP 1)

SET-UP FEE: A charge to merchants for setting up a system so that customers can pay by credit card (PR LAP 15)

SEXUAL HARASSMENT: Any unwelcomed sexual remarks, advances, conduct, or requests made to another person (EI LAP 36, MN LAP 44, MN LAP 55)
Any unwelcome sexual remarks, advances, conduct, or requests made to another person (EI LAP 4)

SEXUAL ORIENTATION: An individual's sexual and romantic preferences (EI LAP 36, EI LAP 139)

SHALLOW PRODUCT MIX: A description of the depth of a business's product mix offering few variations within the product line (PM LAP 3)

SHARE: In investing, a piece of ownership in a corporation; also known as a stock (QS LAP 34)

SHARED MAIL: Less expensive direct-mail promotion in which a company bundles a circular with weekly coupons and delivers it to consumers (PR LAP 6)

SHARED TIME: The use of two employees to share the responsibility for one full-time position (EC LAP 14)

SHARED VISION: The future that a group of people collectively want to create and work toward together (EI LAP 60)

SHAREHOLDER: Anyone who owns stock in a corporation; also known as a stockholder (EC LAP 3, EC LAP 27, OP LAP 190, QS LAP 34)
Owners of stock; also known as stockholders (BL LAP 6)

SHAREHOLDER'S EQUITY: Assets minus liabilities; also known as shareholders’ equity, book value, and net worth; sometimes referred to as equity (IM LAP 184)

SHERMAN ANTITRUST ACT: A federal regulation intended to prevent monopolies from forming and prices from being fixed (BL LAP 58, EC LAP 8, PI LAP 47)

SHOPLIFTING: Customer theft of goods from a business (DS LAP 4, RM LAP 4)

SHOPPING CART: Computer program designed to act as an online catalog and order processing center (PM LAP 9, PR LAP 15)

SHOPPING PRODUCTS: Consumer goods and services purchased after the customers compare to get the best quality, price, and/or service (SE LAP 101)
Consumer goods and services purchased after customers compare products to get the best quality, price, and/or service (EC LAP 10)
Goods and services purchased after the customers compare goods and stores in order to get the best quality, price, and/or service (PR LAP 1)

SHORT-CHANGE ARTISTS: Thieves who try to confuse cashiers into giving them more change than is due (RM LAP 4)

SHORT-CHANGE FRAUD: A method of point-of-sale fraud in which thieves try to confuse cashiers into giving them more change than is due (RM LAP 4)

SHORT MESSAGING SERVICE (SMS): Technology that allows people to send text messages over their cell phones (PR LAP 3)

SHORT PRODUCT MIX: A description of the length of a business’s product mix offering few products in its product lines (PM LAP 3)

SHORT-RANGE FORECASTING: Sales forecasting that predicts sales for periods of less than three months; used to aid in day-to-day decision making regarding planning, scheduling, staffing, inventory, etc. (MP LAP 5)

SHORT-TERM BUDGET: A budget that lasts one year; the go-to budget that managers can consult and adjust regularly; also known as an operating budget (FI LAP 99)

SHORT-TERM FORECAST: A sales forecast for a period of a year or less (IM LAP 3, IM LAP 4)

SHORT-TERM GOALS: Objectives that take less than a year to achieve (PD LAP 16)
The physical inventory is less than the perpetual inventory (DS LAP 5, DS LAP 6)

SHORT-TERM GRATIFICATION: The pursuit of instant satisfaction rather than delaying rewards for greater long-term benefit (FI LAP 355)

SHORT-TERM LIABILITIES: Debts that will take a year or less to pay (FI LAP 10)

SHORT-TERM LOANS: Loans that must be paid back within the year (QS LAP 38)

SHORT-TERM ORIENTED SOCIETY: A society in which people focus on the past or present and value things such as national pride and fulfilling social obligations; typically associated with Western cultures (EC LAP 45)

SHORT-TERM TIME HORIZON: An investing timeframe of less than five years (some sources say two to three years) (QS LAP 41)

SHOW 'EM: Method of answering objections in which the salesperson clears up the objection by showing the product in use; also called the demonstration method (SE LAP 874)

SICK-OUT STRIKE: A union pressure strategy in which all employees call in “sick” at the same time (EC LAP 5)

SIDEBAR AD: An advertisement, usually vertical, that is placed on the side of a website (PR LAP 3)

SIGNATURE: Text or images appearing at the bottom of an e-mail indicating a person’s or business’s identity, contact information, and/or offer (PR LAP 14)

SILENCE: A negotiating strategy that involves listening but not speaking; often used when a situation becomes emotionally heated or when the other party does not like a specific message (EI LAP 62, QS LAP 3)

SILENCE CLOSE: A closing technique in which the salesperson stops talking after the presentation to allow the prospect time to think and to respond (SE LAP 895)

SIMILE: A figure of speech in which two unlike things are compared using the words “like” or “as” (PM LAP 127)

SIMPLE RANDOM SAMPLING: A probability sampling method in which every sampling unit has a known and equal chance of being selected (IM LAP 285)

SIMULATE: To imitate the conditions of something else (IM LAP 17)

SIMULATION: Imitation or enactment (IM LAP 284)

SINCERITY: Genuineness (QS LAP 8)

SIT-DOWN STRIKE: A union pressure strategy in which employees stay on the job but refuse to work; also known as sit-in strike (EC LAP 5)

SITE ANALYSIS: A career that involves the collection and interpretation of information about web site visitors (PD LAP 3)

SITE ARCHITECTURE: A career that involves putting information on the WWW in a logical format so that Internet users can find what they are looking for (PD LAP 3)

SITE DESIGN: A career that involves the creation of the visual elements that make web sites attractive to users (PD LAP 3)

SITE MAP: A flowchart that puts information on the Web in a logical format so that Internet users can find what they are looking for (PR LAP 15)

SITE OBJECTIVES: Goals to be reached by web sites (PR LAP 15)

SITUATION ANALYSIS: A determination of a firm’s current business situation and the direction in which the business is headed (IM LAP 2, MK LAP 1, MP LAP 7)
Exploratory research conducted with the purpose of providing a more complete understanding of the problem and the total business environment in which it exists (IM LAP 282)

SITUATIONAL FACTORS: Existing conditions that affect a business and its advertising activities (PR LAP 5)

SITUATIONAL THEORY OF LEADERSHIP: A theory of leadership style which holds that each situation is different and requires a different approach, calling upon the leader to analyze the situation and take appropriate action to perform the necessary tasks (HR LAP 493)

SIX SIGMA: A popular quality-management methodology that relies on a five-step approach to improve any business process (QM LAP 1)

SIZE DISCOUNTS: Rate reductions offered to advertisers who buy larger sized advertising space units (PR LAP 6)

SKILL: The ability to perform a task that is developed through knowledge, training, and practice (PD LAP 66, QS LAP 18, QS LAP 19, QS LAP 22)

SKIP INTERVAL: In systematic random sampling, the number of spaces between each sampling unit drawn for the sample (IM LAP 285)

SKU CODE: A two- to four-digit code number assigned to a stock keeping unit, or SKU (DS LAP 3)

SLACK RESOURCES: Resources above and beyond what are needed to operate an organization (EC LAP 107)

SLANDER: Saying something untrue that damages a person’s or business’s reputation (SE LAP 129)

SLIDING-SCALE RATE: Discount rate structure offered by newspapers to advertisers willing to purchase a large volume of advertising space over a one-year period (PR LAP 6)

SLOGAN: A phrase that is easy to remember (CR LAP 6, PM LAP 14, PM LAP 16, PM LAP 139, PR LAP 7)
A phrase that is easy to remember, often used by marketers to help customers remember a product or brand (PM LAP 19)

SLOW/METHODICAL CUSTOMERS: Customers who require a lot of time to make a purchase because of shyness or indecisiveness (CR LAP 9, SE LAP 112)

SMALL BUSINESS: A business that employs 500 or fewer people (PD LAP 66)

SMALL-BUSINESS OWNER: An individual who owns a business venture to generate income without intentions of growing or expanding the business (PD LAP 66)

SMALL-SCALE GOAL: A medium-sized, short-term goal (PD LAP 16)

SMART GOAL: A goal that helps you identify exactly what it is you want to achieve and to know for sure when you’ve achieved it; made up of specific, measurable, attainable, results-oriented, and time-bound goals (IM LAP 12, MP LAP 7, PD LAP 16)

SMARTPHONE: A mobile phone with advanced capabilities, such as accessing the Internet (NF LAP 4)

SMISHING: Illegal activity that involves posing as a financial institution or other business and sending fraudulent text messages requesting personal information such as account numbers and passwords; similar to Internet phishing (PR LAP 3)

SMOOTHING: Offering consumers a discount for purchasing products that otherwise would go to waste (PM LAP 79)

SNAIL MAIL: A slang term used to describe the sometimes slow process of sending mail through the postal service (BA LAP 3)

SNOWBALL SAMPLING: A non-probability sampling method in which researchers ask respondents to help them identify and recruit additional respondents for the study; also called referral sampling (IM LAP 285)

SOCIAL AND CULTURAL ATTITUDES: The belief and feelings of people in a society that cause them to act in certain ways (NF LAP 15)

SOCIAL AWARENESS: The ability to know and understand others’ emotions (EI LAP 16)

SOCIAL CHANGES: Shifts in the values, tastes, habits, composition, etc., of society (HR LAP 8)

SOCIAL MANAGEMENT: The ability to respond effectively to others’ emotions (EI LAP 16)

SOCIAL MEDIA: Forms of electronic communications through which users build communities, network, share information, etc. (SE LAP 119)

SOCIAL MEDIA FOOTPRINT: Digital or electronic records left behind from social media activity and Internet usage (EI LAP 91)

SOCIAL MEDIA HIJACKING: When an individual or group uses social media messages or social media platforms belonging to another person or organization to distribute their own social or political messages (PR LAP 175)

SOCIAL (AFFILIATION) NEEDS: Desires to belong and to be accepted by various groups; third level of needs of Maslow's Hierarchy of Needs (MN LAP 47)

SOCIAL RESPONSIBILITY: The duty of business to contribute to the well-being of society (EC LAP 106, EC LAP 105, EC LAP 70)
Taking other people's needs, interests, and feelings into account and acting accordingly (EI LAP 21)

SOCIAL SECURITY: Federal programs for retirees, the disabled, and children of deceased workers (EC LAP 27, EC LAP 28)

SOCIAL SKILL: A skill valued by people, such as manners (QS LAP 24)

SOCIALISM: A modified command economic system in which government owns the basic means of production and allows private ownership of businesses as well (EC LAP 17)

SOCIETY: A group of individuals who share an environment (IM LAP 9, NF LAP 15)

SOCIETAL MARKETING CONCEPT: A philosophy of conducting business which involves creating and marketing products that benefit individual customers as well as contribute to the good of society as a whole (MK LAP 4)

SOCIOECONOMIC STATUS: An economic and sociological measure of a person’s income, education, and occupation (EI LAP 139, MP LAP 3)

SOCIOLOGY: The study of the effects a people’s beliefs and values have on group interaction (CD LAP 2)

SOFT NEWS: Information that does not need to be announced immediately because it will be of as much interest to the public later as it is now (PR LAP 10)

SOFT SKILLS: Interpersonal (rather than technology or qualification) based skills that help a person advance in the workplace (Career Opps in Finance)

SOFTWARE: Programs that instruct computers to perform specific operations (BA LAP 3, NF LAP 4, RM LAP 4)

SOLE PROPRIETORSHIP: A business owned by one person who receives all the profits from the business and takes all the risks (BL LAP 1, BL LAP 6, EC LAP 3, EC LAP 27)

S-O STRATEGY: A marketing strategy that focuses on opportunities that are a good match with the business’s strengths (MP LAP 10)

SOUND: Sensible (FI LAP 11)

SOURCES: People or organizations that have what you need or can help you locate what you need to complete a task (OP LAP 531)

SPAM: Junk email that the recipient did not request and does not allow the recipient to request removal from the subscriber list; also known as unsolicited commercial email (BA LAP 3, BA LAP 5, PR LAP 13)
Junk email that the recipient did not request and that does not allow the recipient to unsubscriber; also known as unsolicited commercial email (PR LAP 3)
Junk email that the recipient did not request; also known as unsolicited commercial email (CR LAP 17, NF LAP 110)

SPAN OF CONTROL: The measurement of how many workers are supervised by one manager (EC LAP 103, SM LAP 64)

SPATIAL APTITUDE: Abilities related to the use of space (HR LAP 2)

SPECIAL EVENT: Any happening arranged for a specific reason or occasion (CO LAP 25, PR LAP 8)

SPECIAL GIFT WRAP: A variety of papers, ribbons, and enclosure cards available to the customer for an extra charge (SE LAP 105)

SPECIALIST: A member of an exchange who acts as a market maker and facilitates trading of a specific stock (QS LAP 47)

SPECIALIZATION: The process of making the best use of resources in the production of goods and services (EC LAP 7, EC LAP 18)
An employee’s narrow focus on one task or area of expertise (KM LAP 1, SM LAP 64)

SPECIALIZATION BY STAGE OF PRODUCTION OR TASK: A type of specialization that occurs when more than one stage or task is required to create a finished product; different people are usually involved during the different stages and tasks of production; also known as division of labor (EC LAP 7)

SPECIALIZATION BY TRADE OR PROFESSION: The type of work that you perform to earn a living; the most common type of specialization (EC LAP 7)

SPECIALIZED BUDGET: A budget that reflects a particular department or activity of a company; specialized budgets are interrelated, often relying on one another for estimates of future activity (FI LAP 106)

SPECIALTY PRODUCTS: Consumer goods and services with special or unique characteristics that customers are willing to exert special efforts to obtain (EC LAP 10)
Goods and services with special or unique characteristics that customers are willing to exert special efforts to obtain(PR LAP 1)

SPECIALTY MEDIA: A type of “other” media that features a business’s logo, is useful, and is given away freely (PR LAP 3)

SPECIFICATIONS: Standards that are established and described in detail; requirements (DS LAP 5, OP LAP 2, QS LAP 19)

SPECIFIC GOAL: A goal that includes the details necessary to make sure you don’t confuse it with another goal (QS LAP 22)

SPECTACULAR: A type of out-of-home advertisement built to order and often designed with neon lights or moving parts (PR LAP 3, PR LAP 6)

SPECTATOR: A type of fan who follows and watches a specific performer, athlete, team, or organization (PR LAP 136)

SPECTATORS: Observers, or fans, of a sporting event (MK LAP 12)

SPECULATIVE: Highly risky; based on estimates (QS LAP 49)

SPECULATIVE RISKS: Chances of loss that may result in loss, no change, or gain (EC LAP 3)
A risk that may result in loss, no change, or gain (SM LAP 75)

SPECULATIVE STOCKS: Stocks issued by companies that have not yet established themselves (QS LAP 34)

SPEED: The ability to change quickly; an aspect of organizational agility (EC LAP 107)

SPIDERS: Software programs that visit web pages and provide information to search engines (PR LAP 16)

SPIN: A dishonest way of presenting a person or situation (EI LAP 123)

SPIRIT OF THE LAW: The intent of the law; the social and moral consensus of how to interpret the law (BL LAP 163, RM LAP 41)

SPLIT BILL: A form of cash-related fraud in which the ends of a large-denomination bill are cut off and glued to the ends of a small-denomination bill to make it appear more valuable (RM LAP 4)

SPLIT-RUNS: Printing technique that allows publishers of magazines to print different advertisements for the same product in alternating copies of the publication (PR LAP 6)

SPONSOR: A business, individual, or organization that pays the costs of promotion (PR LAP 8, QS LAP 19)
To exchange money, goods, or services for public recognition (PR LAP 175)

SPONSORS: Businesses or organizations that pay to associate their names or products with a sporting event (MK LAP 12)

SPONSORSHIP: An agreement that allows a company to pay a fee to a team or an event for the right to affiliate itself with that team or event (PM LAP 139)
The provision of financial or other support to an entity in exchange for public exposure (PR LAP 175)
A partnership in which a company pays a fee to affiliate itself with a team, league, or event (SE LAP 321)
An agreement that allows a company to pay a fee to a team, event, etc. for the right to affiliate itself with that team, event, etc. (PR LAP 1)

SPONSORSHIP EXPLOITATION: A sponsor's commitment to promoting the team, league, or event by investing in advertising and promotion (SE LAP 321)

SPONSORSHIP FEE: A sponsor's initial payment or investment to enter into a marketing partnership with a team, league, or event (SE LAP 321)

SPONSORSHIP MANAGEMENT: In event marketing, an activity that involves securing corporate funding for an event's promotions costs or consulting with corporations to find events that reach the company's target audience (PD LAP 51)

SPONTANEOUS: Arising from a genuine, natural impulse without external influence (EI LAP 141)

SPORT MARKETING: The process of planning and executing the conception, pricing, promotion, and distribution of sport ideas, goods, and services to create exchanges that satisfy individual and organizational objectives (PD LAP 51, PM LAP 140)

SPORTING EVENT: An intangible, perishable experience; the athletes; the facility (MK LAP 12)

SPORTING GOODS: Tangible, manufactured products that are sold and used within the sport industry (MK LAP 12)

SPORTS BROADCASTING ACT: Allows professional sport leagues to pool their broadcasting rights and sell them as a package to television networks (BL LAP 58)

SPORT/EVENT ENTITY: An athlete, team, league, or event on a local, regional, national, or international level (PR LAP 175)

SPORT MARKETING: The process of planning and executing the conception, pricing, promotion, and distribution of sports ideas, goods, and services to create exchanges that satisfy individual and organizational objectives (MK LAP 12)

SPOT: A trading instrument used on the foreign exchange market; an agreement between two parties to buy or sell a currency at the current exchange rate (EC LAP 30)

SPOT CHECK: See Random Check (DS LAP 5)

SPRAIN: An injury to muscles or joints caused by stretching or tearing of the ligaments (RM LAP 3)

SPREAD: An advertisement placed on two facing pages in print media (PR LAP 6)
Commission on bonds (QS LAP 48)

STABILITY STRATEGY: A marketing strategy designed to keep market share the same (MP LAP 7)

STAFF AUTHORITY: Advisory authority, often without the ability to enforce or take action (EC LAP 103)

STAFF SPECIALISTS: Permanent employees hired specifically to plan, design, and deliver sales training programs (SE LAP 123)

STAFFING: The management function of finding workers for the business (SM LAP 3)
The management function of finding, training, and compensating workers for the business (SM LAP 4)
A human resources management activity that involves recruiting, interviewing, hiring, orienting, and dealing with job changes for a company’s employees (HR LAP 35)

STAKEHOLDER(S): Those who benefit from a project or from investing in a project (QS LAP 28)
A person who is invested in a project’s success or failure (EI LAP 19, OP LAP 1)
People or businesses who are affected by a company’s success or failure (EC LAP 106, SE LAP 129)
A person who has an interest or investment in a project’s outcome (OP LAP 158, OP LAP 519)
Those who are affected by a project’s success or failure (OP LAP 520, OP LAP 521, RM LAP 41)
Those who are invested in a project’s success or failure (OP LAP 675)

STAKEHOLDER-MANAGEMENT PLAN: A document that includes analysis of project stakeholders and a strategy for engaging with them (OP LAP 1)

STANDARD OF LIVING: The general conditions in which people live; quality of life (EC LAP 1, EC LAP 8, EC LAP 9, EC LAP 11, EC LAP 18, MK LAP 1, MK LAP 4)
The level of material comforts a person is used to (EC LAP 28)

STANDARDIZATION: The organization of work so that it is always done in the same way (EC LAP 18, FI LAP 343)

STANDARDS: Specifications or statements that are used as a basis for comparing or judging goods or services (PM LAP 8)

STANDING COMMITTEE: A committee that exists and functions on a permanent basis (EI LAP 45)

STANDING ROOM ONLY CLOSE (SRO): A closing technique in which the salesperson creates a sense of urgency to buy by mentioning that the item being presented is one-of-a-kind or in limited supply (SE LAP 895)

STAPLE ITEM: A frequently purchased item that businesses keep on hand continuously because the demand for it is constant (DS LAP 3, EC LAP 10, IM LAP 3)

STARBURSTING: A brainstorming technique that involves using a star-shaped diagram to ask and answer basic questions about an issue or situation (PM LAP 127)

START-UP COSTS: All of the expenses involved in setting up a new business or introducing a new product to the market (EN LAP 38, IM LAP 3)

STATE "COOLING-OFF LAWS": State regulations that allow consumers to cancel contracts with door-to-door salespeople within a certain number of days

STATE LAW: Laws created by each state’s legislators (BL LAP 163)

STATEMENT OF RETAINED EARNINGS: A statement that shows the way that net income and dividends affected the financial position of a company over a period of time (IM LAP 184)

STATEMENT OF WORK (SOW): A dynamic document that serves as the foundation of a project; includes goals, scope, deliverables, etc. (OP LAP 158)

STATIC: Unchanging (EI LAP 22)

STATIC BUDGET: See fixed budget (FI LAP 99)

STATISTICS: Information presented in numerical form (CD LAP 2)

STATISTICAL: Numerical (IM LAP 17)

STATISTICAL PROCESS CONTROL (SPC): The use of statistics to determine if a production process is working properly or not (OP LAP 8)

STATISTICAL QUALITY CONTROL (SQC): A group of tools used to evaluate quality and identify problems; contains three components—descriptive statistics, acceptance sampling, and statistical process control (OP LAP 8)

STATUS QUO: The way things are right now (EI LAP 22, EI LAP 27, QS LAP 23, QS LAP 27)
The way things are right now, or the existing state of affairs (EI LAP 134)
The way things are right now or the current state of affairs (EI LAP 136)

STATUS QUO BIAS: A preference to maintain the status quo and the view that a change from it is a loss (EI LAP 134)

STEALING: Taking something that belongs to someone else with no intention of returning it (HR LAP 19)
Taking something that does not belong to you in a way that is wrong or illegal (EI LAP 138)

STEREOTYPE(S): A set image or an assumption about a person or thing (EI LAP 30, EI LAP 33, EI LAP 36, EI LAP 140, HR LAP 11, PD LAP 12)
Set images or assumptions about a person, group of people, or thing (EI LAP 139)
Generalized, set assumptions about people or things (EI LAP 127)

STEREOTYPING: Generalizing people based on their cultural backgrounds (EC LAP 45)

STIMULI: Inputs that evoke a reaction (MK LAP 14)

STIMULUS: Anything that evokes or triggers a response (EI LAP 14)
Anything that triggers a response (e.g., an economic stimulus aims to jumpstart growth) (EC LAP 29)

STIMULUS CONTROL: Finding ways to avoid or limit the triggers that cause stress (EI LAP 14)

STOCK: Shares or units of ownership in a corporation (BL LAP 6, FI LAP 77, QS LAP 32, QS LAP 34, QS LAP 40)

STOCK EXCHANGE: A place (physical or virtual) where stocks are traded by brokers who represent buyers and sellers (QS LAP 34, QS LAP 47)

STOCK FUND: A pool of shareholders' money invested in stocks; also called an equity fund (QS LAP 35)

STOCK MARKET: The buying and selling of stocks or shares (QS LAP 40)

STOCK MARKET INDEX: A measure of average stock prices that gives a general indication of the market (QS LAP 34)

STOCK MUTUAL FUNDS: Ownership investments in which a variety of stocks from different corporations or agencies (usually from different industries) are combined into one investment (FI LAP 77, QS LAP 32)

STOCK OPTIONS: The right to buy or sell a stock at a particular time for a particular price (QS LAP 38)

STOCK OVERAGE: A larger amount of stock than the business is able to sell (DS LAP 3)

STOCK PRICE: The price at which the stock will sell (QS LAP 40)

STOCK SCREENER: An online tool for investors that filters stock choices using a predetermined set of criteria (QS LAP 46)

STOCK SPLIT: Dividing a corporation’s existing stock into multiple shares (QS LAP 34)

STOCK TABLE: Format used to list stock quotes, traditionally found in newspapers, but also listed in financial publications and web sites (QS LAP 37)

STOCKHOLDER: Anyone who owns stock in a corporation; also known as a shareholder (QS LAP 34)

STOCKHOLDERS: Owners of stock; also known as shareholders (BL LAP 1)

STOCKHOLDERS' EQUITY: Assets minus liabilities; also known as shareholders' equity, book value, and net worth; sometimes referred to as equity (QS LAP 36, QS LAP 38, QS LAP 42)
The amount that stockholders have invested in the business plus or minus profits and losses (FI LAP 10)

STOCKKEEPING UNIT: Each item or group of items in a unit control system; called an SKU (DS LAP 2, DS LAP 3, DS LAP 6)

STOCKOUT: A situation in which there is no stock of an inventory item(s) on hand (DS LAP 2, DS LAP 3)

STOCKOUT COSTS: Costs associated with running out of needed inventory; considered in terms of lost money and sales, lost productivity, and lost customer satisfaction (OP LAP 189)

STOCKPILING: Maintaining a large inventory (EC LAP 14)

STOCKTURN: The number of times stock is sold in a given period of time (DS LAP 3)

STOP ORDER: In investing, a buy or sell order that instructs a broker to execute a trade when a certain price is reached or passed (QS LAP 47)

STORE WRAP: A simple gift wrap provided for customer purchases without charge (SE LAP 105)

STRAIGHTFORWARD: Direct; open and honest (HR LAP 19)

STRAIGHT BONDS: Bonds that are repaid on the maturity date with no option to be repaid sooner (QS LAP 33)

STRAIN: An injury to muscles or tendons caused by stretching or overexerting (RM LAP 3)

STRATEGIC: Long-term (OP LAP 8)

STRATEGIC ALLIANCE: See joint venture (EC LAP 104)

STRATEGIC MANAGEMENT: The process of planning, controlling, and organizing an organization or department (EC LAP 71, HR LAP 35)

STRATEGIC PLAN: A long-term plan (MP LAP 5)

STRATEGIC PLANNING: Long-range planning (three to five years) for the company as a whole (HR LAP 35, MP LAP 10, NF LAP 15, OP LAP 2, SM LAP 3)
Long-range plan for the company as a whole; usually three to five years out (SM LAP 7)

STRATEGIC POSITION: How a business measures up in relation to other businesses in the industry; can involve the image or impression of a business or organization (EC LAP 71)

STRATEGIC RISKS: Possible events and situations that can affect the execution of an organization’s long-term plans (EC LAP 3, RM LAP 41, SM LAP 75)

STRATEGIES: Plans of action for achieving goals and objectives (EC LAP 71, IM LAP 7, MP LAP 2, SM LAP 3, SM LAP 7)

STRATEGY: A carefully designed plan of action (PM LAP 19)
A plan of action for achieving goals and objectives (SM LAP 13)

STRATEGY-ORIENTED DECISION PROBLEM: A decision problem aimed at answering “how?” or “which?” (IM LAP 282)

STRATIFIED RANDOM SAMPLING: A probability sampling method in which researchers break the target population down into non-overlapping groups and draw simple random samples from each one (IM LAP 285)

STRATUM: In stratified random sampling, a non-overlapping group researchers want to study (IM LAP 285)

STREAMING MEDIA: Sound, video, or animations that play in real time (PR LAP 13)

STRENGTH: Any resource or capability your business has that can help you gain a competitive advantage in your industry (MP LAP 10, NF LAP 15)

STRENGTHS: Positive habits and qualities (EI LAP 17, QS LAP 16)

STRESS: A mental, physical, or emotional feeling of pressure or tension (EI LAP 25, HR LAP 4, PD LAP 1, PD LAP 2, QS LAP 4, RM LAP 2)

STRESSORS: Causes of stress (EI LAP 25)

STRIKE: A union strategy in which employees stop working and leave their jobs (BL LAP 58, EC LAP 5)

STRIKEBREAKERS: A company pressure strategy in which the company hires non-union members to work while union members are on strike (EC LAP 5)

STRONG CURRENCY: Currency that is generally more valuable than other currencies on the foreign exchange market (EC LAP 30)

S-T STRATEGY: A marketing strategy that focuses on using a business’s strengths to overcome its threats (MP LAP 10)

STRUCTURAL UNEMPLOYMENT: Unemployment that arises when there is a mismatch between available workers and available jobs (EC LAP 29)

STRUCTURED RELATIONSHIP: A type of relationship characterized by rules, well‑defined positions, and clear lines of authority; e.g., work relationships (HR LAP 1)

STYLE MANUAL: A reference book of guidelines for news writing (PR LAP 10)

SUBCHAPTER “S” CORPORATION: A type of corporation that is limited to 100 or fewer shareholders, has limited shareholder liability, and requires little financial reporting; taxed as a partnership; also known as an “S” corporation (BL LAP 1)

SUBCULTURE: A secondary group within a dominant culture (EC LAP 45, EI LAP 33)
A culture within a culture (e.g., the Hispanic population is a subculture in the United States) (MK LAP 14)

SUBHEADLINE: Text that continues or clarifies the thought expressed in the headline; usually positioned below the headline and set in slightly smaller type size (PR LAP 7)

SUBJECT LINE: The location within an e-mail that indicates what the message is about (PR LAP 14)

SUBJECTIVE: Based on thought or opinion rather than fact (FI LAP 11)

SUBORDINATES: Lower ranking members of an organization who are required to report to higher ranking supervisors and managers (HR LAP 493)

SUBSIDIARY: A company that is entirely controlled by a parent company (MP LAP 7)

SUBSIDY: Government financial help given to a business (EC LAP 16, MN LAP 43, NF LAP 15)
A payment provided by a government to a domestic producer; the payment is given to support the production of a particular good or service (EC LAP 4)
Financial support extended by the government with the goal of creating an economic or social benefit (EC LAP 27)

SUBSISTENCE: Existence at a level that barely supports life (EC LAP 17)

SUBSTITUTE GOODS: Items that can be used in place of others; items that satisfy the same needs/wants; similar goods (EC LAP 11)

SUBSTITUTE ITEMS: Goods or services other than the original request that are suggested by a salesperson when the salesperson does not have the item requested or when the salesperson recognizes the customer's true needs (SE LAP 117)

SUBSTITUTE PRODUCTS: Two different products that satisfy the same need (NF LAP 15)
Goods and/or services that can be used in place of others; items that satisfy the same needs/wants (PM LAP 127)

SUBSTITUTION EFFECT: A phenomenon that occurs when changes in relative prices cause buyers to replace the purchase of one product with another (EC LAP 12)

SUBTLE: Hardly noticeable (SE LAP 101)

SUGGESTING OWNERSHIP CLOSE: A closing technique in which the salesperson stresses the enjoyment or the benefits the customer will enjoy from owning a product (SE LAP 895)

SUGGESTION SELLING: A sales technique in which the salesperson attempts to increase the customer's purchase by recommending additional items after the original decision to buy has been made; also known as suggestive selling (PR LAP 13, SE LAP 130, SE LAP 875)
A sales technique in which the salesperson attempts to increase the customer's purchase by recommending additional items after the original decision to buy has been made (SE LAP 48, SE LAP 119)

SUGGESTION SYSTEM: A written communication method in which employees can submit to management their ideas for changes or improvements in the business (MN LAP 54)

SUMMARY CLOSE: A closing technique in which the salesperson reviews a product's features and benefits at the conclusion of the presentation (SE LAP 895)

SUNK COSTS: Costs that have already been incurred and thus cannot be recovered (FI LAP 355)

SUPERDOT SYSTEM: Super Designated Order Turnaround system at the New York Stock Exchange; routes trade orders directly to the specialist in charge of the security (QS LAP 47)

SUPERIOR ATTITUDE: Outlook of people who seem to believe that they are better than the people around them; tend to be very self‑confident and dominant in groups (HR LAP 9)

SUPERVISE: Oversee and direct the activities of others (QS LAP 18)

SUPERVISOR: An employee who oversees other employees (EC LAP 71)

SUPERVISORY MANAGEMENT: First-line management (SM LAP 3)

SUPPLIERS: Vendors; businesses from which other businesses buy goods or services (EC LAP 2, HR LAP 4, IM LAP 7, OP LAP 2)
Businesses from which other businesses buy goods or services (IM LAP 184)
See vendor (IM LAP 12)

SUPPLIES: Industrial goods that are constantly being purchased and used up in the operation of a business (EC LAP 10)

SUPPLY: The quantity of a good or service that sellers are able and willing to offer for sale at a specified price in a given time period (EC LAP 11, EC LAP 12, EC LAP 17)

SUPPLY AND DEMAND: The providing and seeking of goods and services (QS LAP 40)

SUPPLY CHAIN MANAGEMENT: A career area in which employees supervise the complete process of getting products into the marketplace; a career field in which employees are responsible for the flow of goods (Career Opps in BMA)

SUPPLY PRICE: The minimum price producers are willing and able to receive for a product (EC LAP 12)

SUPPLY SHOCK: An unexpected event that suddenly changes the price of a commodity (EC LAP 28)

SUPPORT SERVICES: Technical or complicated activities that project members cannot do themselves (QS LAP 19)

SUPPORT SYSTEM: A network of individuals and/or organizations who offer assistance to those in need of advice and information (PD LAP 66)

SURETY BOND: A guarantee that protects a business when another person or business fails to fulfill the terms of a contract between them (EC LAP 3)

SURPLUS: An amount in excess of the required amount (QS LAP 40)

SURVEY: A marketing-research method that involves asking consumers questions to learn their opinions and the reasons behind those opinions (IM LAP 10, IM LAP 281, IM LAP 284, OP LAP 519)
A data-collection method that involves asking consumers questions to learn their opinions and the reasons behind those opinions (IM LAP 17)
A data-collection tool used to gather useful information from individuals (PR LAP 136)

SURVEY OF BUYER INTENTIONS: A qualitative sales forecasting method that gathers information about consumers' plans to purchase (IM LAP 4)

SUSPICIOUS CUSTOMERS: Customers who doubt or question everything and may want facts and proof before being convinced something is true (CR LAP 9, SE LAP 112)

SWAP: A trading instrument used on the foreign exchange market; a type of forward agreement in which two parties trade currencies for a certain length of time, then “swap back” at an agreed-upon date in the future (EC LAP 30)

SWEEPSTAKES: A game of chance in which a customer wins a prize (PR LAP 187)

SWOT ANALYSIS: A marketing tool that investigates a business’s strengths, weaknesses, opportunities, and threats in an organized fashion (MK LAP 1, MP LAP 7, MP LAP 10)

SWOT MATRIX: Table that displays the key issues in a SWOT analysis (MP LAP 10)

SYMPATHETIC STRIKE: A union pressure strategy in which employees of one local union walk off the job to support another union that is on strike (EC LAP 5)

SYMPATHY: The ability to recognize another person’s feelings; feeling sorry for another person who has a problem or has suffered misfortune (EI LAP 30)

SYNECTICS: A creative-thinking technique that involves making connections through the use of forced relations (PM LAP 127)

SYSTEM FOR ELECTRONIC DOCUMENT ANALYSIS AND RETRIEVAL (SEDAR): A database for securities filings and information in Canada (QS LAP 48)

SYSTEMATIC RANDOM SAMPLING: A probability sampling method in which researchers place sampling units into a random list and draw a sample using a skip interval (e.g., every 50th name) (IM LAP 285)

T

TABLE OF CONTENTS: The portion of a document in which the sections are listed with their page numbers for easy access (SM LAP 7, SM LAP 13)

TABOO: Something that is forbidden or avoided due to cultural beliefs (PM LAP 6)
Something that is prohibited or restricted (EI LAP 64)

TACIT KNOWLEDGE: Knowledge an individual possesses that is difficult to transfer to others either verbally or in writing; it is gained through some sort of experience (EI LAP 130, KM LAP 1)
Knowledge that is difficult to transfer to another person verbally or in writing (KM LAP 2)

TACT: The ability to do or to say the right thing in any circumstances (EI LAP 30, EI LAP 36, EI LAP 129, HR LAP 19)

TACTICAL PLANNING: Short-range planning (one year) of specific actions the business will take (SM LAP 3)

TACTIC(S): Specific actions that will be used to carry out strategies (EC LAP 71, IM LAP 7, MP LAP 2)
A plan for accomplishing a specific goal (NF LAP 15)

TACTICAL: Short-term (OP LAP 8)

TAG LINE: A slogan used in an advertisement (PR LAP 7)

TAGUCHI METHOD: An approach to quality management that focuses on product research, design, and development, rather than manufacturing; also called robust design (OP LAP 8)

“TAKE-WITH”: A purchase that the customer carries from the store (SE LAP 105)

TAMPERING: Adjusting something that you have no right to adjust; e.g., a competitor’s product (SE LAP 129)

TANGIBLE(S): Able to be touched or held (MK LAP 12)
Able to be detected through at least one of the five senses (sound, taste, sight, smell, touch) (PI LAP 47)
Having a physical presence (FI LAP 10)
Capable of being touched, smelled, tasted,seen, or heard (EC LAP 10, EI LAP 141, OP LAP 17, PM LAP 79)
In quality management, refers to the environment in which a service is performed (QM LAP 1)

TANGIBLE ITEM: Any item capable of being touched, smelled, tasted, seen, or heard (CD LAP 2, PM LAP 140)

TANGIBLE RESOURCES: The equipment, supplies, and materials needed to complete a project (OP LAP 531)

TARGET AUDIENCE: A group of consumers who are the most likely prospects for a good, service, image, or idea (PR LAP 2, PR LAP 5, PR LAP 9, PR LAP 187)

TARGET MARKET: The particular group of customers a business seeks to attract (CM LAP 2, CR LAP 1, IM LAP 10, IM LAP 12, IM LAP 17, IM LAP 282, MK LAP 1, MK LAP 15, MP LAP 3, MP LAP 7, PI LAP 3, PM LAP 3, PM LAP 16, PM LAP 17, PM LAP 19, PR LAP 1, PR LAP 3, SE LAP 321, SM LAP 7, SM LAP 13)
The group of customers on whom a business focuses its marketing efforts (PI LAP 47)

TARGET MARKETING: The identification and selection of markets for a business or for a product (MP LAP 3, PR LAP 13)

TARGET POPULATION: The specific group of individuals or other units that researchers are studying for marketing-research purposes (IM LAP 285)

TARGET RETURN: See Return on Sales (PI LAP 3)

TARIFF: A tax on imported goods; also called duty ( EC LAP 16, EC LAP 45)
A tax levied by a government on imports (EC LAP 4)

TASK: Work assigned to an individual to complete a project (QS LAP 19)

TASK UTILITY: Usefulness created by altering or changing the characteristics of a service (or task) to make it more useful to the consumer (EC LAP 13)

TAX-DEFERRED RETIREMENT PLAN: A plan that allows investors to deposit money into an investment account and hold off paying the taxes on it until they start using the money (QS LAP 41, QS LAP 46)

TAX BREAK: An indirect government subsidy given in the form of reduced taxes; its goal is often to stimulate business or create jobs (EC LAP 27)

TAX CODE: A document that details the rules for individuals and businesses to follow when paying taxes to the government (EC LAP 27)

TAX HAVEN: A country that offers low or no tax rates (EC LAP 104)

TAX RECORD: A document about monies that individuals or businesses must pay to the government (NF LAP 1)

TAX REVENUE: The income the government gains by levying taxes on individuals and businesses (EC LAP 27)

TAXABLE INCOME: The portion of an individual's or business's earnings that is subject to taxation (EC LAP 27)

TAXES: Monies that individuals or businesses must pay to the government (EC LAP 2, EC LAP 105, EC LAP 27)

T-BILLS: Treasury bonds that last less than a year (QS LAP 33)

T-BONDS: Treasury bonds that last more than 10 years (QS LAP 33)

TEAM: A group that collaborates and evenly shares responsibilities to accomplish a goal (EI LAP 45)

TEAM-BUILDING: The use of cooperative efforts among employees and management to accomplish company goals and objectives (MN LAP 40)

TEAM VISION: A smaller, more specific vision that complements the organizational vision (EI LAP 60)

TEAMWORK: The cooperative effort of two or more people working together to reach a common goal (EI LAP 45, EI LAP 130, MN LAP 55)
Cooperative effort of two or more people; working together to reach a common goal (EI LAP 60)

TECHNICAL ANALYSIS: Process using historical information from market activity, prices, and volume to evaluate securities and predict future price activity (QS LAP 49)

TECHNICAL JARGON: The specialized language of a trade

TECHNICAL SKILLS: The ability to acquire and utilize systematic, specialized applications to accomplish business objectives (PD LAP 66)
Ability to understand the specialized aspects of jobs (SM LAP 3)

TECHNOLOGICAL CHANGES: Developments, breakthroughs, and other changes in the scientific applications to business objectives or the methods used to obtain those objectives (HR LAP 8)

TECHNOLOGICAL UNEMPLOYMENT: A type of structural unemployment that occurs when advances in technology eliminate certain job positions (EC LAP 29)

TECHNOLOGY: Scientific applications to business objectives or the methods used to attain those objectives (CD LAP 2, EC LAP 14, EC LAP 71, EC LAP 105, PM LAP 1)
The practical application of science to society and industry (NF LAP 4)

TELECOMMUTE: To work from a location other than the office (HR LAP 35)
To work from home or somewhere other than the office (SM LAP 4)

TELECOMMUTING: Working from home or a remote location (NF LAP 4)

TELEMARKETING: Advertising medium grouped with “other” media that utilizes telephone service to promote a product either by phoning prospective customers or providing a number for them to call (MN LAP 55, PR LAP 3)

TELEPHONE INTERVIEW: Surveying individuals via phone to obtain research data (IM LAP 10)

TELLER: A person who conducts routine bank transactions and may also sell additional products that the bank offers (QS LAP 51)

TEMPERAMENT: Nature; personality (FI LAP 77)

TENTATIVE AGREEMENT: An agreement between union leaders and company representatives that has not yet been approved by the union members (EC LAP 5)

TERMINATION-AT-WILL POLICY: A policy that allows for the discharge of any employee without cause, provided there is no legal restriction or contract which applies to the situation (MN LAP 53)

TERMS: Specific points that reveal each party’s expectations and responsibilities in a negotiation agreement (QS LAP 3)
Specific points that reveal each person’s expectations and responsibilities in a negotiation agreement (EI LAP 62)

TERMS-OF-SALE POLICIES: Guidelines covering the aspects of a sale with which customers are usually most concerned, (e.g., price, credit, discounts) (SE LAP 932)

TEST MARKETING: The process of introducing a new product to a limited market to determine what its acceptance will be (IM LAP 10, IM LAP 284, PM LAP 17)
An experiment in which marketers introduce a new product to a limited market to determine what its acceptance will be (IM LAP 17)

TESTIMONIAL: A statement by an identified user of a product proclaiming the benefits received from the use of that product (PM LAP 140, PR LAP 7, PR LAP 9, SE LAP 131, SE LAP 374)
Method of answering objections in which the salesperson uses a neutral third party who has tried the product as an example; also called third-party method (SE LAP 874)

TEXT EDITOR: A computer program that is capable of manipulating words (PR LAP 13, PR LAP 14)

THEORY X MOTIVATION: An authoritative, traditional view of motivation in which workers were viewed as preferring direction, having little ambition, avoiding responsibility, and wanting security (MN LAP 47)

THEORY Y MOTIVATION: A humanistic view of motivation that recognizes a new breed of employees who are concerned with the ultimate meaning and social value of their work and its consequences (MN LAP 47)

THESAURUS: An indexed book of synonyms (PR LAP 9)

THINK TANKS: Groups of people whose job it is to work with ideas for new products and solutions (PD LAP 2)

THIRD-PARTY AGREEMENT: Legal or financial arrangement in which two companies do business through (or using) a third company (SM LAP 7)

THREAT: Any unfavorable situation in the environment surrounding your business (MP LAP 10, NF LAP 15)

THREE-CLICK RULE: A web-design principle that states that visitors should be able to find what they are looking for within three clicks (PR LAP 15)

THREE-POINT ESTIMATING: A technique that considers the ways in which uncertainty and risk can affect estimates (OP LAP 531)

THOUGHT STOPPING: A positive-thinking technique that involves blocking negative thoughts and replacing them with positive ones (EI LAP 3)

THUMBNAIL: An image that has been reduced in size (BA LAP 5)

TICKET SCALPING: Reselling tickets for more than their face value (BL LAP 58)

TICKET MANAGEMENT: In sport/event marketing, an activity that involves coordinating the box office staff and keeping detailed ticket sales records (PD LAP 51)

TICKER CONTROL: A rotating system of counting portions of stock at regular intervals (DS LAP 3)

TICKER SYMBOL: System of letters that uniquely identifies a company; also known as call letters (QS LAP 37)

TIE-IN SALES: An illegal practice in which the purchase of an additional product is mandatory (SE LAP 129)

TIME-BASED DISCOUNT: A discount that is based on the period of time a buyer has to pay an invoice in order to receive the discount (PU LAP 3)

TIME-BOUNDED GOAL: A goal that has a set time limit; a goal that has a distinct beginning and ending (QS LAP 22)

TIME DECISION: The decision a customer makes on when to buy (SE LAP 108)

TIME-HORIZON: The amount of time available; often applied to achieving goals, figuring the return on investments, setting limits, etc. (QS LAP 31, QS LAP 41)

TIME LOG: A detailed record of how you spend your time (PD LAP 1, QS LAP 21)

TIME MANAGEMENT: The process of controlling events in order to accomplish priorities (QS LAP 18)
How people use the 24 hours in their day (OP LAP 675, PD LAP 1, PD LAP 14, QS LAP 18, QS LAP 21)

TIME SMOOTHING: The process of determining “prime” and “non-prime” hours for a service and pricing accordingly (PI LAP 47)

TIME STANDARDS: Established specifications that monitor the amount of time needed to complete specific business activities (PM LAP 8)

TIME THEFT: A situation that occurs when an employee spends company time on personal matters (OP LAP 190)

"TIME THIEVES": Things that steal your time, such as procrastination and interruptions (PD LAP 14, QS LAP 21)

TIME UTILITY: Usefulness created when products are made available at the time they are needed or wanted by consumers or to complete specific business activities (EC LAP 13)

TIMING: In the production process, determining when materials will arrive at a certain destination and how long they will stay there (OP LAP 189)

TITLE: Right of ownership or a document showing the right of ownership (FI LAP 2)

TITLE SPONSORSHIP: A partnership in which the sponsor's name precedes the event's name, such as The Allstate Sugar Bowl (SE LAP 321)

T-NOTES: Treasury bonds that last one to 10 years (QS LAP 33)

TO-DO LIST: A list of activities that an individual plans to accomplish during a certain period of time (OP LAP 519, PD LAP 1, QS LAP 21)

TOLERANCE: The capacity to accept deviation from the norm (EI LAP 92, HR LAP 4)

TONE OF VOICE: The specific pitch or quality of the voice used in speaking (HR LAP 20)

TOP-DOWN APPROACH: Starting the sales forecast process by preparing an overall forecast for the entire company; also called breakdown approach (IM LAP 4)

TOP-LEVEL DOMAIN NAMES: The three-letter extensions that come after the dot in a web address (e.g., .com, .biz, or .org) (PR LAP 15)

TOP-LEVEL MANAGEMENT: All managers who are responsible for the operation of the company or a business unit (SM LAP 3)

TOSS-IT-BACK: Method of answering objections in which the salesperson turns the customer's objection into a valid reason for buying; also called boomerang method (SE LAP 874)

TOTAL AUDIENCE PLANS: Radio discount rate plan that offers advertisers reduced rates for purchasing a minimum number of time slots across days and day parts (PR LAP 6)

TOTAL COSTS: All of a business's costs, both fixed and variable (PI LAP 3, PI LAP 4)
The sum of the overhead and direct costs required to make a product (OP LAP 9)

TOTAL QUALITY MANAGEMENT (TQM): A focus on ingraining quality into every aspect of an organization to deliver what customers want and to exceed their expectations; a strategic approach to quality management (OP LAP 8)

TOTAL REVENUE: The total amount of money a company receives from the sale of its output (EC LAP 31)

TOUCHPOINT(S): Any interaction between a business and a customer or a potential customer (CR LAP 6)
All the opportunities that businesses have to connect with customers and reinforce their brand value (CR LAP 1, CR LAP 16, MK LAP 19, PM LAP 10, PM LAP 20)

TRACKING: A data-collection method in which marketers monitor customers’ behavior, usually online or through store purchases (IM LAP 17)

TRADE AGREEMENTS: Agreements between nations that provide for favorable trade relations (EC LAP 4)

TRADE ASSOCIATION: A group of persons in the same industry or geographic area who form a society to serve their common interests (CD LAP 1)
A group of persons in the same industry or geographic area who form a society to solve their common problems (PM LAP 8)

TRADE CENTERS: Facilities located in most major cities throughout the world that assist exporters through the export process and share information about tariffs, product standards, and other regulations with importers (EC LAP 4)

TRADE CHARACTER: A brand mark that has been personified and made to seem lifelike (PM LAP 6)

TRADE DEFICIT: An unfavorable balance of trade in which a nation's imports are greater than its exports (EC LAP 1, EC LAP 4, EC LAP 30)

TRADE DISCOUNT: A deduction from the list price of goods for performing certain marketing activities; a function-based discount (PU LAP 3)

TRADE DRESS: A particular type of trademark that protects the distinctiveness of the appearance and image of a good or service (PM LAP 14)

TRADE-IN ALLOWANCE: A price reduction offered for selling back an old model of the product being purchased (EC LAP 13)

TRADE INDUSTRIES: Businesses that buy and sell goods to others; retailers and wholesalers (EC LAP 70)

TRADE JOURNAL: An industry-specific publication (IM LAP 12, SE LAP 131)

TRADE MISSION: : A trip involving business executives and/or government officials who travel to a foreign country to promote trade (EC LAP 4)

TRADE NAME: The name that is used to identify a company or an organization (PM LAP 6)

TRADE-OFF: Giving up all or a part of one thing in order to get something else (EC LAP 6)

TRADE PUBLICATION: Journals or magazines published by a particular industry for the businesses in that industry (IM LAP 3)
An industry-specific publication (IM LAP 184)

TRADE SECRET: Undisclosed information within a particular business or industry (NF LAP 1, NF LAP 110)

TRADE SHOWS: Events where businesses display and/or demonstrate their products to build sales leads and interest (PD LAP 2, PR LAP 1, SE LAP 131)

TRADE SURPLUS: A favorable balance of trade in which a nation's exports are greater than its imports (EC LAP 1, EC LAP 4)

TRADE TALKS: Meetings among nations to discuss improving economic and trade relations (EC LAP 4)

TRADE UNION: See craft union (EC LAP 5)

TRADEMARK: A symbol, design, or word used by a producer to identify a good or service and registered with the government to prevent use by others; a brand that is owned by a business; designated by the symbol TM (BA LAP 5, BL LAP 58, NF LAP 1)
A word, name, symbol, or device used by a manufacturer or merchant to identify and distinguish its goods from those manufactured and sold by others (FI LAP 10, PM LAP 14)
A brand that is owned by a business; designated by the symbol ™ (PM LAP 6)

TRADEMARK INFRINGEMENT: The reproduction, counterfeiting, copying, or imitation, in commerce, of a registered mark (BL LAP 58, EN LAP 44, PM LAP 14)

TRADEMARKED PROPERTY: A symbol, design, or word used to identify a good or service and registered with the government to prevent use by others (PM LAP 14, PM LAP 139)

TRADER: An investor who uses the “buy low and sell high” trading strategy; also known as market timer (QS LAP 49)

TRADING AREA: The territory in which a firm conducts business (IM LAP 4)

TRADING DESK: The location where investment purchases and sales occur; also known as the dealing desk (QS LAP 49)

TRADING DOWN: A sales technique in which the salesperson suggests a lower priced product than the one originally requested by the customer (SE LAP 114)
A product-mix strategy in which a business adds a lower priced product or product line to its product mix (PM LAP 3)

TRADING UP: A sales technique in which the salesperson suggests a higher priced product than the one originally requested by the customer (PI LAP 1, SE LAP 114, SE LAP 875)
A product-mix strategy in which a business adds a higher priced product or product line to its product mix (PM LAP 3)

TRADITION: A custom or repetitive action that is established over time (PR LAP 136)

TRADITIONAL: Established over a period of time; customary (EC LAP 14)

TRADITIONAL ECONOMY: An economic system in which people produce only what they must have in order to exist; all economic decisions are based on habit and tradition (EC LAP 17)

TRAFFIC PATTERNS: The usual routes or pathways individuals follow as they move about (RM LAP 2)

TRAILING: The most recent time period, usually twelve months; often abbreviated in securities’ tables as “ttm” for trailing twelve months (QS LAP 43)

TRAINING: Teaching or developing a specific skill (MN LAP 42, MN LAP 50)

TRAINING OBJECTIVES: Goals intended to guide the development of sales training programs (SE LAP 123)

TRAIT THEORY OF LEADERSHIP: A theory of leadership style which holds that select individuals are born with all of the traits and characteristics that are necessary to lead (HR LAP 493)

TRAITS: Personal characteristics, expressed by a regular pattern of behavior, that become a part of you, over time (EI LAP 9, PD LAP 66)

TRANSACTION: A business activity such as a sale, a purchase, or a return (FI LAP 85)

TRANSACTION FEE: A charge to a merchant that results when customers pay by credit card (PR LAP 15)
A charge for purchasing securities, such as stock; the seller’s commission (QS LAP 45)

TRANSFER PAYMENTS: Monies paid by the government for which no goods or services are received in exchange, such as Social Security payments, welfare benefits, veterans' benefits, disaster aid, and other similar payments (EC LAP 1)

TRANSFERENCE: A risk-response strategy that involves moving the impact of a risk to someone or something else (SM LAP 75)

TRANSFORMATION: A change in the shape or appearance of an object (OP LAP 2)

TRANSIT POSTER: A form of out-of-home advertisement found in various modes and locations of mass transportation (PR LAP 3)

TRANSPARENCY: The quality of being just as one seems; trustworthy (EI LAP 1, CR LAP 17, QS LAP 14)
The quality of being just as one seems; being open and truthful when communicating (EC LAP 106, EI LAP 4, EI LAP 45, EI LAP 123, EI LAP 124, EI LAP 125, EI LAP 128, EI LAP 131, EI LAP 132, EI LAP 139)
Maintaining honest and open communications (FI LAP 351, FI LAP 355, OP LAP 521)
Being open and truthful when communicating (EI LAP 129)
Maintaining open and truthful communication(s) (EI LAP 60, IM LAP 25, KM LAP 2, OP LAP 519, OP LAP 520, OP LAP 675, RM LAP 41)

TRANSPORTATION: The act of moving anything from one place to another or the method by which it is moved (e.g., rail carriers, motor carriers, water carriers, pipelines, and air carriers) (CM LAP 2)

TRASH COMPACTORS: Machines that compress paper, cartons, etc. for easier disposal or removal (RM LAP 2)

TRAVEL AND ENTERTAINMENT CARD: A type of credit card frequently used by travelers to pay bills in restaurants, clubs, hotels, and motels (FI LAP 2)

TRAVEL AND TOURISM: A career area in which employees make sure customers have the best experience possible while traveling and planning their trips (Career Opps in Hosp)

TREASURY BONDS: Marketable bonds issued by the U.S. government (QS LAP 33)

TREND(S): The general direction(s) in which people or events are moving (EC LAP 18, IM LAP 10, PD LAP 66, PD LAP 126, PM LAP 127)
A change or development in a certain direction (FI LAP 9)
A period of time in which the market, or prices of particular securities, move in one general direction (upward or downward, for example) (QS LAP 49)

TRENDSETTER: One who is a leader in introducing new styles or movements (SE LAP 112)

TRIAL BALANCE: The listing of a business’s different accounts and their current balances; used to check the accuracy of journal and ledger entries (FI LAP 85)
A statement of the debits and credits in an accounting system (FI LAP 343)

TROUGH: The phase of the business cycle considered the low point of economic activity; characterized by high rates of unemployment and business failures (EC LAP 9)

TRUE COMPLAINT: An honestly felt dissatisfaction by the customer (HR LAP 23)

TRUST: The ability to rely on the character, integrity, or truthfulness of something or someone else (EC LAP 106, EI LAP 4, EI LAP 45, EI LAP 127, EI LAP 132, KM LAP 2, OP LAP 531, OP LAP 675, RM LAP 41)
The belief that someone or something is reliable (EI LAP 128, EI LAP 129)

TRUST FUND: Money that is set aside for a specific use or purpose (EC LAP 27)

TRUSTWORTHINESS: Reliability; the quality of deserving others’ confidence (EI LAP 131, PD LAP 15, QS LAP 8)

TRUSTWORTHY: Reliable; deserving the confidence of others (EI LAP 16, EI LAP 123, EI LAP 124, EI LAP 125, EI LAP 128, EI LAP 138, HR LAP 19)

TRUTH-IN-LENDING ACT: A federal law that protects consumers who use credit and makes it easier for them to compare the terms of different credit systems; also known as Consumer Credit Protection Act (FI LAP 1, FI LAP 2)

TRY IT: Method of answering objections in which the salesperson allows the customer to actually try out the product before buying it (SE LAP 874)

TURNOVER: The rate at which an organization has to replace employees (KM LAP 1)
The rate at which a business gains and loses employees (FI LAP 11)

TURNOVER RATE: The number of times inventory sells, or turns, during a particular period of time (DS LAP 2)

TYING AGREEMENT: An illegal agreement requiring a customer to buy other products in order to obtain desired goods and services (EC LAP 8)

U

U.S. CHAMBER OF COMMERCE: A national organization that gathers and compiles business's views on national issues and problems affecting the economy and reports them to the U.S. government (RM LAP 4)

ULTIMATE CONSUMER(S): Anyone who personally uses a good or service to satisfy his/her own wants (EC LAP 10, MK LAP 1)
People who personally use a good or service to satisfy their own wants (CD LAP 2, CM LAP 2, CM LAP 3, PR LAP 1)

ULTIMATE CONSUMPTION: The process or activity of using goods and services for personal use (SE LAP 117)

UNAUTHORIZED SUBSCRIPTIONS: A situation in which individuals have unknowingly or unwillingly been signed up to receive or gain access to electronic information (PR LAP 13)

UNCERTAINTY: The quality or state of not being clearly identified or defined (QS LAP 27)

UNCERTAINTY AVOIDANCE: A dimension of national culture that refers to a society’s tolerance toward uncertainty or insecurity (EC LAP 45)

UNCONSCIOUS BIAS: Bias that we are unaware of and unable to control (EI LAP 139)

UNCOUNTED PRODUCTION: Goods and services that are not counted in GDP because money is not paid for them (EC LAP 1)

UNDECIDED CUSTOMER: A type of customer who feels a need or want for something but does not know the exact good or service (SE LAP 101)

UNDERCOVER SHOPPERS: Security personnel hired by the business to pose as customers in order to detect employee dishonesty (RM LAP 4)

UNDEREMPLOYMENT: A situation in which a worker is not working enough or is not using his/her skills effectively (EC LAP 29)

UNDERGROUND ECONOMY: An economy that involves transactions in which money changes hands, but no receipts are kept (EC LAP 1)

UNDERSTANDING: Grasping the meaning; comprehending (EI LAP 30)

UNDERSTOCKS: Inadequate amounts of stock on hand to meet consumers’ needs (IM LAP 4)

UNDERSTUDY: An instructional method in which a manager or supervisor has been specifically designated as the person to succeed his/her superior and is learning the job-knowledge skills from that person (MN LAP 50)

UNDERVALUED: In investing, a stock that is priced lower than the company’s perceived intrinsic value; undervalued stocks can be said to be “on sale” (QS LAP 42)

UNDERWRITER: A person who calculates the risk of loss, establishes premium rates, and designs policies to cover risk; may specialize in life insurance, health insurance, or property and casualty insurance; may further specialize in either individuals or group policies (QS LAP 51)

UNDIFFERENTIATED MARKETING: Designing products and directing marketing activities to appeal to the whole market; also known as mass marketing (MP LAP 3)

UNEMPLOYMENT TAX: A tax that businesses must pay to fund benefits for unemployed workers (EC LAP 29)

UNEMPLOYMENT RATE: The percentage of the workforce that is unemployed (NF LAP 15)
The percentage of the labor pool that is currently seeking but unable to find work (EC LAP 29, IM LAP 184)

UNETHICAL: Lacking morals; wrong (EC LAP 106, EI LAP 4)

UNFEASIBLE: Difficult, impossible (EN LAP 38)

UNIFORM COMMERCIAL CREDIT CODE (UCCC): A set of credit laws drawn up to give states a model to follow in writing their own sets of credit laws (FI LAP 2)

UNIFORM LIMITED PARTNERSHIP ACT: United States legislation that serves as a guide for legally formulating a limited partnership agreement (BL LAP 6)

UNIFORM PARTNERSHIP ACT: United States legislation that serves as a guide for legally formulating a general partnership agreement (BL LAP 6)

UNION SECURITY: An agreement under which a union may or may not require company employees to join the union or pay dues (EC LAP 5)

UNION SHOP: A union security agreement in which employees are required to join the union after their probationary period (EC LAP 5)

UNIQUE: Special; one of a kind (PM LAP 19)

UNIQUE BENEFIT: Exclusive, the only one of its kind; a benefit competitor’s good or service does not possess (SE LAP 113)

UNIQUE SELLING PROPOSITION: A one-of-a-kind attribute of a product or brand that separates it from the competition (PM LAP 16)

UNIT CONTROL: A way of keeping track of inventory according to the number of physical units of stock (DS LAP 2, DS LAP 4)

UNIT INVENTORY CONTROL: A system of keeping track of inventory according to the actual number of units of stock (DS LAP 3)

UNIT OF ANALYSIS: The entity or element that is being studied in market research (e.g., individual, household, etc.) (IM LAP 282)

UNIT OPEN-TO-BUY: The number of units of stock a business can buy in a given period of time (DS LAP 3)

UNIT PRICING: A pricing technique in which consumers are given the price per unit (pound, ounce, etc.) for products (PI LAP 3)
Showing product prices per unit of measure in addition to showing total price (e.g., cents per ounce) (PM LAP 7)

UNIT PRODUCTION: The production of one item at a time or items in small quantities (OP LAP 17)

UNIT-SALES QUOTAS: A type of sales-volume quota in which salespeople are evaluated on the number of products or physical units that they sell instead of on dollar volume (SE LAP 118)

UNITARY DEMAND: A market situation in which changes in price create proportionate changes in product sales (PI LAP 47)

UNITED STATES BUREAU OF LABOR STATISTICS: The U.S. government’s fact-finding agency for economics and labor (EC LAP 29)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (SEC): Federal agency that regulates the financial markets; charged with protecting the investing public from fraud or malpractice (QS LAP 48)

UNITY OF COMMAND: A principle that states that no employee should answer to more than one supervisor at a time (EC LAP 103, SM LAP 64)

UNLIMITED LIABILITY: Requirement that business owners be responsible for paying business debt; personal assets can be used to pay the debt (BL LAP 1, BL LAP 6)

UNORGANIZED PARTICIPANTS: Players of sports that are not controlled by organizations or groups; do not follow rules (MK LAP 12)

UNREALISTIC: Out of touch with reality or the facts (QS LAP 10)

UNSAFE ACTS: Behavior or actions that may be harmful or cause harm (RM LAP 2, RM LAP 3)

UNSAFE CONDITIONS: Physical or environmental hazards (RM LAP 2, RM LAP 3)

UNSECURED LOAN: An amount of money borrowed by an individual or a business simply by signing a promissory note promising to repay the loan (FI LAP 2)

UNSOLICITED COMMERCIAL E-MAIL: Electronic promotional messages from businesses that do not give the recipient the option of opting out; also known as UCE or spam (PR LAP 13)

UNSOUGHT PRODUCTS: Consumer goods and services bought out of necessity or adversity rather than desire (EC LAP 10)
Products that consumers do not actively seek (PR LAP 1)

UPC LABEL: Universal Product Code label encoded with product information such as price, brand, size, etc. to be read by an electronic scanner (DS LAP 5)

UPLOAD: To transfer a file, data, or program from a peripheral computer to a central computer (BA LAP 3)

UP-SELLING: A sales technique in which a higher priced product than the one originally requested by the customer is suggested (PR LAP 13)

URGENCY: A pressing need (EI LAP 22, QS LAP 23)

URL: Uniform Resource Locator; website address (PM LAP 6)

USURY LAWS: State legislation that establishes the highest interest rate that can be charged on credit contracts (FI LAP 1)

UTILITY: Usefulness; capable of satisfying wants and needs (EC LAP 11, EC LAP 13, SE LAP 117)

UTILITY COSTS: Charges for the use of electrical, gas, and water services (OP LAP 25)

V

VAGUE: Unclear

VALID: Based on fact; relevant (EI LAP 15)
Measuring what the researcher intends to measure (IM LAP 10)

VALIDITY: Legitimacy; acceptability (IM LAP 17)

VALUE(S): The amount of satisfaction a good or service will provide a customer (CM LAP 2, EC LAP 12, IM LAP 7, MP LAP 2, OP LAP 189, PI LAP 47)
Importance; worth (EI LAP 137)
The ideas, morals, and characteristics that are the most important to you (EI LAP 132)
The principles by which you live (HR LAP 2, IM LAP 9, QS LAP 27)
The principles by which you live; the ideas, morals, and characteristics that are the most important to you(EI LAP 126)
The principles that you consider most important in life, such as kindness or commitment to family (EI LAP 63)
Beliefs and ideas that are considered important and meaningful (EI LAP 64)
In quality management, refers to a customer’s opinion on whether or not the product is worth the price (QM LAP 1)

VALUE IN KIND (VIK): In a sponsorship agreement, an arrangement in which the sponsor pays part or all of its fee with goods or services (SE LAP 321)

VALUE JUDGMENT: A statement that reflects a person’s opinion or evaluation of something (QS LAP 29)

VALUE STOCKS: Stocks that trade at lower-than-average prices because they have been overlooked or undervalued by investors (QS LAP 34)

VALUING DIVERSITY: Openly acknowledging differences and believing that they are assets instead of problems (EI LAP 33)

VARIABLE: Factor that is subject to change (IM LAP 17, IM LAP 284, OP LAP 8)

VARIABLE BUDGET: See flexible budget (FI LAP 99)

VARIABLE-COST MARGIN: The amount of variable costs that apply to one unit; also called fixed-cost contribution (PI LAP 4)

VARIABLE COSTS: Business costs that change according to changes in sales volume (EN LAP 38, PI LAP 3, PI LAP 4, PI LAP 47)

VARIABLE EXPENSE(S): Operating costs that fluctuate with changes in production (OP LAP 9)
An expense that fluctuates with changes in sales volume or productivity (FI LAP 99)

VARIANCE: The difference between a budgeted amount and an actual amount (FI LAP 106)
A difference or discrepancy (FI LAP 9)
Difference; inconsistency (FI LAP 99)

VENDOR: A supplier of goods, usually a wholesaler or distributor (DS LAP 2, DS LAP 4, DS LAP 5, IM LAP 12, IM LAP 184, OP LAP 675)

VENDOR COORDINATION: In event marketing, an activity that involves organizing suppliers of goods or services who will be present at an event (PD LAP 51)

VENTURE: A business or business project; usually new (SM LAP 7)

VENTURE CAPITAL: Invested money used for new business opportunities (EC LAP 71, FI LAP 7)

VENUES: Buildings or places where sports and events occur (PM LAP 79)

VERBAL: Communication involving the use of words (QS LAP 24)

VERBAL ASSERTIVENESS: A confident attitude that involves the use of words (EI LAP 18, QS LAP 4)

VERBAL COMMUNICATION: Communication that involves the use of spoken words (EC LAP 45, EI LAP 18, EI LAP 140, HR LAP 20)

VERTICAL CONFLICT: A type of channel conflict that occurs between channel members at different levels within the same channel (CM LAP 2)

VIABILITY: The long-term value of your choices (EI LAP 4, EI LAP 123, EI LAP 124, EI LAP 125)
The long-term value of your choices and actions (EI LAP 137, OP LAP 521)
The long-term value of choices and decisions to relevant stakeholders (EI LAP 108, RM LAP 41)

VICE VERSA: In reverse order (SE LAP 117)

VIRTUAL SERVICES: Services provided through a medium of communication (such as the Internet), rather than in person (EC LAP 71)

VIRTUAL WORKERS: Human resources that perform work-related responsibilities over a network such as the Internet (PR LAP 15)

VIRUS: A computer program that downloads to your computer or network without your permission (NF LAP 110)

VIRUSES: Programs designed to disrupt computer operations (BA LAP 3, BA LAP 4, PR LAP 13)

VISIBILITY: The ability to anticipate change; an aspect of organizational agility (EC LAP 107)

VISION: The future you desire to create (EI LAP 16, EI LAP 60, EI LAP 131, QS LAP 12, QS LAP 27)
A mental picture of the ideal future (EI LAP 63)
The future a business or organization wants to create (SM LAP 4)

VISION (STATEMENT): A summary of what a business owner wants a business to become (EC LAP 71, PM LAP 10)

VISUAL AID: A chart, picture, image, model, etc. that helps to make a point or is used to enhance a presentation (CO LAP 25)

VISUAL CONTROL: Looking over stock to see what needs to be reordered (DS LAP 3)

VISUAL MERCHANDISING: Display (MN LAP 56)

VISUAL SEARCH ENGINE: Software program that searches the web looking for information pertaining to specified search terms and displays a list of results in graphic format (BA LAP 5)

VISUALIZE: Imagine or picture in your mind (QS LAP 22)

VISUALIZATION: The practice of imagining yourself in possession of a present or desired strength (an affirmation) (HR LAP 12)

VISUALIZATION SKILLS: The ability to imagine how different media will complement each other on the World Wide Web (PD LAP 3)

VOICE: The way a person sounds when speaking, as described through volume, pitch, speed, and pronunciation; not the actual words or meaning (CO LAP 25)

VOICE over INTERNET PROTOCOL (VoIP): Technology that allows users to make telephone calls over the Internet (NF LAP 4)

VOLATILITY: The movement of a stock relative to the movement of an index or the stock market; refers to a stock’s movement in price; a stock that rises and falls sharply is said to be “volatile” (QS LAP 37, QS LAP 40, QS LAP 49)

VOLUME: Degree of loudness (HR LAP 20)
Number of shares traded during a specific period (QS LAP 37, QS LAP 49)

VOLUME-BASED DISCOUNT: A discount that is based on the quantity of a purchase (PU LAP 3)

VOLUNTEER: Individual who donates time to complete a project (QS LAP 19)

VOLUNTEER COORDINATION: In event marketing, an activity that involves delegating responsibility and assigning workers where they are needed (PD LAP 51)

VOTING: A decision-making method in which votes are counted for or against an alternative (EI LAP 19, QS LAP 17)

W

WAGES: Money payments for labor on an hourly, daily, or weekly basis (EC LAP 5, EC LAP 14)

WAGNER ACT OF 1935: A federal act that protects union employees by stipulating that employees may not be disciplined or discharged for engaging in union activities (MN LAP 53)

WAIT UNEMPLOYMENT: A situation in which a worker wants a different or higher paying job but “waits” in another position until that job becomes available (EC LAP 29)

WALK-IN PROMOTIONS: In sport marketing, a team or organization's attempt to communicate with and reward fans as they enter the sports venue (PD LAP 51)

WANT: A desire for something that may or may not be required (EC LAP 10, EC LAP 13, SE LAP 112, SE LAP 117, SE LAP 874, SE LAP 883)
Desires (EC LAP 6)
Something that is desired but not required (MK LAP 14)

WANTS: A desire for something that is not required (QS LAP 31)

WAREHOUSING: A career that involves placing goods in safe locations until they are needed or ready to be sold (CD LAP 2)

WARRANTOR: A person or business that provides a warranty to others (PM LAP 4)

WARRANTY: A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected (EC LAP 3, FI LAP 10, IM LAP 7, MP LAP 2, OP LAP 2, PM LAP 4, PP LAP 7, SE LAP 115, SE LAP 119, SE LAP 130, SE LAP 131)
A promise to the purchaser that a product will be repaired or replaced if it proves to be defective (PM LAP 7)

WEAKNESS: Any limitation or shortcoming your business has that can keep you from achieving your objectives (MP LAP 10, NF LAP 15)

WEAKNESSES: Negative habits and qualities (EI LAP 17, QS LAP 16)

WEAK CURRENCY: Currency that is generally less valuable than other currencies on the foreign exchange market (EC LAP 30)

WEAK PRODUCT: A product whose sales and profitability are declining (PM LAP 17)

WEB AUTHORING SOFTWARE: Programs that instruct computers on how to create and manage web pages (PD LAP 3)

WEB BUGS: Invisible code that loads with a web page and tracks Internet behavior (BA LAP 4)

WEB CLASSIFIED ADS: Promotional messages found in electronic versions of newspapers and magazines; also known as “want ads” (PR LAP 16)

WEB DESIGN: The creation of the visual elements that make web sites attractive to users (PR LAP 15)

WEB HOST: A service that stores web pages on a server for a monthly fee (PM LAP 9, PR LAP 14)

WEB-HOSTING SERVICE: An Internet Service Provider (ISP) that keeps businesses web pages up and running for a fee (BA LAP 4)

WEBINAR: A seminar or training session conducted online (SE LAP 374)

WEB RINGS: A series of linked web pages that share a common theme (PR LAP 16)

WEB-SITE LOG FILES: A collection of information that provides information about web-site visitors (PR LAP 14)

WEB-SITE MAINTENANCE: The process of performing tasks that keep a web site up and running smoothly (PM LAP 9)

WELFARE STATE: A government that provides multiple social programs such as free health care and education to its citizens (EC LAP 17)

WEIGHTED COST PER THOUSAND (CPM): A quantitative measure of the cost efficiency of a media vehicle calculated by determining the cost per thousand of a portion of the audience exposed to a promotional message (PR LAP 5)

WHEELER-LEA ACT: An amendment to the Federal Trade Commission Act extending the FTC’s authority to cover the advertising of foods, drugs, cosmetics, and medical devices (PP LAP 7)
A federal law that prevents businesses from deceiving customers through pricing strategies (PI LAP 47)

WHISTLEBLOWER(S): Someone who reports unethical behavior or actions (EI LAP 4)
Employees who report unethical business practices (HR LAP 411)

WHITE SPACE: Blank space in a print advertisement that is unoccupied by text or illustrations (PR LAP 7)

WHOLESALERS: Intermediaries who help to move goods between producers and retailers by buying goods from producers and selling them to retailers (CM LAP 2, CM LAP 3, EC LAP 13, EC LAP 70, HR LAP 19, IM LAP 9, OP LAP 2, PR LAP 1, SE LAP 117)

WHOLLY OWNED SUBSIDIARY: A business entity completely owned and controlled by its parent company (EC LAP 104)

WIDTH: A product-mix dimension referring to the number of product lines carried by a company (PM LAP 3)

WIKI: A user-generated, user-updated web site (OP LAP 6)
A web site that allows its users to contribute and edit content (SE LAP 131)

WILDCAT STRIKE: A union pressure strategy in which local union employees refuse to work but do not have the consent of the national union (EC LAP 5)

WIN-LOSE: A negotiation outcome that results from the use of a combative or competitive negotiation style; one party gets everything s/he wants while the other party does not (EI LAP 62)

WIN-WIN: A negotiation outcome in which both people benefit; often a result when using the collaborative negotiating style (EI LAP 62, QS LAP 3)

WIRELESS NETWORK: A computer network connected without the use of wires or cables (NF LAP 110)

WISH: A hope or longing for something (QS LAP 22)

WITHDRAWAL: A conflict response mode in which one or both parties exhibit passive behavior and express a low level of cooperation; also called ignoring (EI LAP 7)

W-O STRATEGY: A marketing strategy that focuses on overcoming a business’s weaknesses so that the business can pursue opportunities (MP LAP 10)

WORD-OF-MOUTH ADVERTISING: Promotion and publicity for a business provided by customers who tell others of their satisfaction with the business (SE LAP 115)

WORD-OF-MOUTH MARKETING: Promotion and publicity for a business provided by customers who tell others of their satisfaction with the business (CR LAP 6)

WORD-OF-MOUTH PROMOTION: Promotion for a business provided by customers who tell others of their satisfaction with the business (CR LAP 1, CR LAP 16)

WORK-BASED LEARNING: Education that occurs on the job as opposed to in a school environment (PD LAP 3)

WORK BREAKDOWN STRUCTURE (WBS): A document that details the division of a project workload into smaller, more manageable parts (OP LAP 158)

WORK ETHIC: Adhering to a standard of appropriate employee behavior (EI LAP 4)

WORK ORDER: A written description of tasks that are to be completed by a specified time (NF LAP 1)

WORK TEAMS: Employee groups who perform the same major functions, such as receiving clerks, markers, stockpersons, salespersons, etc. (MN LAP 40)

WORKER PRODUCTIVITY: The amount of work a worker can perform in a given period of time, e.g., customers served per hour (EC LAP 18)

WORKERS’ COMPENSATION: Insurance purchased by employers to provide benefits to employees who are injured on the job (EC LAP 27, RM LAP 3)

WORKFORCE ANALYSIS: An assessment of an organization’s current and future human resources (SM LAP 4)

WORKING CAPITAL: Cash available for the business to use, or put to work, in its day-to-day operations (IM LAP 4)

WORKING CAPITAL MANAGEMENT: Management of a firm’s current balance of assets and liabilities; involves accounts payable and receivable, inventory and cash (FI LAP 7)

WORKING CONDITIONS: Job factors such as physical surroundings, equipment and supplies, recreational facilities, medical care facilities, parking facilities, and work schedules (MN LAP 40)

WORKLOAD ANALYSIS: An assessment of an organization’s current and future human resources needs (SM LAP 4)

WORLD TRADE ORGANIZATION (WTO): A global organization that essentially sets the rules of trade among nations; administers trade agreements and handles trade disputes (EC LAP 4)

WORLD WIDE WEB (WWW): A vast collection of interconnected sites and files accessible through the Internet (BA LAP 3)

WOUND: An injury of any kind (RM LAP 3)

WRAPPING: A customer service that consists of adding an outer covering to customer purchases (SE LAP 105)

WRITTEN COMMUNICATION: Communication that involves the use of recorded (written or typed) words (EI LAP 140)

W-T STRATEGY: A marketing strategy that focuses on ensuring that a business’s weaknesses don’t make it even more vulnerable to the threats it already faces (MP LAP 10)

Y

YES, BUT...: Method of answering objections in which the salesperson tactfully acknowledges an objection and then courteously answers the objection without directly contradicting the customer (SE LAP 874)

YIELD: What a bond brings an investor at a particular bid price over the time period—listed as a percentage (QS LAP 33)

YIELD PERCENTAGE: Annual dividend divided by the current stock price; also called rate of return and dividend yield (QS LAP 37)

YIELDING: A conflict response mode in which one or both parties exhibit passive behavior and express a high level of cooperation (EI LAP 7)

Z

ZERO-BASED BUDGETING: A budgeting strategy in which managers rebuild the budget for each new budgeting period, re-evaluating and re-approving all items and making adjustments as necessary (FI LAP 99)
A method of budgeting that requires a manager to demonstrate the need for every expense instead of relying on figures from a previous period; in effect, each new budget begins at zero (FI LAP 106)

ZONING: The practice by some newspapers of printing special editions that are targeted to specific areas, or zones, within the circulation area (PR LAP 6)

ZONING REGULATIONS: Laws governing the use of land (NF LAP 15)