Activity-based costing (ABC)
A method of allocating overhead based on each product's use of activities in making the product.
Balanced Scorecard
A performance-measurement approach that uses both financial and nonfinancial measures, tied to company objectives, to evaluate a company's operations in an integrated fashion.
Corporate Social Responsibility (CSR)
The efforts of a company to employ sustainable business practices with regard to its employees and the environment
Data analytics
The use of techniques, often combining software and the knowledge of statistics, to analyze data and make informed decision
Data Visualization
The pictorial representation of data that shows the viewer the relationship between different types of data
line positions
Jobs that are directly involved in a company's primary revenue-generating operating activities.
Managerial Accounting
A field of accounting that provides economic and financial information for managers and other internal users.
staff positions
jobs that support the efforts of line employees
Theory of Constraints
the practice of identifying constraints that impede a company's ability to provide a good or service, and dealing with the constraints to maximize profitability
Total Quality Management (TQM)
Systems implemented to reduce defects in finished products with the goal of achieving zero defects.
Triple Bottom Line
The evaluation of a company's social responsibility performance with regard to people, planet, and profit.
Value Chain
all activities that a business processes with providing a product or service