Page 695 - Introduction to Business

GLOSSARY G-21

ties for its outcomes, and gradual pay increases along with wage and salary surveys Data collection on prevailing wages
great concern for the welfare of all employees (Ch 7) and salaries within an industry or geographic area (Ch 6)
wages Monies paid to employees for time worked (Ch 6)
underwriting The purchase of securities from a firm by an warranty An assurance made by a seller to a buyer about the
investment bank, which then seeks to sell the securities at quality of a product or service offered by the seller (Ch 9)
a higher price in the financial marketplace (Ch 13) wealth An abundance of worldly possessions (Ch 15)
undifferentiated strategy The plan of a company to make the webmaster The person in charge of a firm’s website (Ch 18)
same product and service available to all segments of a webpage An electronic page where information is stored and
market (Ch 8) displayed on the World Wide Web, that may contain text,
unethical behavior Behavior that is either illegal or morally graphics, sound, animations, and video (Ch 18)
unacceptable to the larger community (Ch 3) website The collection of all the World Wide Web pages main-
unfunded pension plan A pension plan that pays retirees tained by an individual or business organization (Ch 18)
from cash flows or taxes instead of from funds set aside what-if analysis A modeling activity in a decision-support
over time in a savings plan (Ch 14) system where the value of one or more variables is
uniform resource locator (URL) The address of a resource on changed to observe the effect on one or more other vari-
the Internet (Ch 18) ables of interest (Ch 17)
unit investment trust (UIT) A type of closed-end mutual fund wheel of retailing The process by which low-cost retailers
that allows investors to lock in relatively high yields (Ch 15) begin offering services that increase their prices, making
unit of account The function of money to serve as means for them vulnerable to new, low-cost retailers (Ch 10)
valuing of goods and services (Ch 14) whistleblowers Employees who inform the appropriate
unit testing Verifying that each individual program is working authorities about an employer’s wrongdoing (Ch 3)
properly (Ch 17) whole life insurance An insurance policy that offers both a
term policy plus a type of savings account that increases in
value analysis An examination of the function that each pur- cash value over time as premiums are paid (Ch 14)
chased part serves, done in order to find lower-cost alter- wide area network (WAN) A network that provides connectiv-
natives (Ch 16) ity over large distances, sometimes from one continent to
value stocks Stocks of companies that are considered rela- another (Ch 17)
tively low risk, have expected but limited growth potential, work-based programs Programs that tie employee develop-
and generally pay modest dividends (Ch 15) ment activities directly to task performance (Ch 6)
venture capitalists Investors in small business firms seeking working capital Money needed to pay the short-run expenses
higher-risk and higher-return business opportunities by of producing a product or service, including raw materials,
purchasing equity ownership positions (Ch 4) variable production costs, and labor (Ch 4)
venture team A temporary group that a company establishes work-life programs Employment programs and policies
to come up with new product ideas (Ch 9) aimed at meeting the needs of employees, especially those
vertical integration A supply chain management strategy with young children (Ch 7)
where one supply chain member develops the ability to work-share programs Jobs that are permanent and in which
perform the function that another supply chain member two compatible employees with similar professional
has been performing (Ch 18) background split a job (Ch 7)
vestibule training Employee training provided in a simulated World Wide Web (WWW or www) A system with universally
environment close to the actual work situation (Ch 6) accepted standards for displaying, formatting, storing,
virtual collaboration A supply chain management strategy and retrieving information in a networked environment
where companies form a supply chain to provide goods or (Ch 18)
services on demand (Ch 18)
virtual private network (VPN) A secure network that uses the yellow dog contract Employment contract where employee
Internet as its main backbone network, but relies on a net- agrees not to join a union (Ch 6)
work firewall for security (Ch 18) yield The total return on a bond, including the capital gains
vision, or mission,statement A statement that illuminates the and coupon interest paid (Ch 13)
main goals of an enterprise (Ch 4)
voluntary restraints Self-imposed export quotas on specific
sensitive products (autos, steel, etc.), to a specific country
or countries for a set period of time (Ch 2)

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