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Matching business trends terminology

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Horngren'S Financial And Managerial Accounting
Found in: Page 888

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Short Answer

Match the term with the correct definition.

1. A philosophy designed to integrate all organizational areas in order to provide customers with superior products and services while meeting organizational objectives. Requires improving quality and eliminating defects and waste.

2. Use of the Internet for business functions such as sales and customer service. Enables companies to reach customers around the world.

3. Evaluating a company’s performance by its economic, social, and environmental impact.

4. Software system that integrates all of a company’s functions, departments, and data into a single system.

5. A system in which a company produces products just when they are needed to satisfy needs. Suppliers deliver materials when they are needed to begin production, and finished units are completed at the right time for delivery to customers.

a. ERP b. JIT c. E-commerce d. TQM e. Triple bottom line

The matching of definitions is done by the relevant terms in Step 2.

See the step by step solution

Step by Step Solution

E-commerce is defined as buying or selling or carrying out a business transaction using the internet

Matching

Definitions

Terms

1

D TQM

2

C E-commerce

3

E Tripple bottom line

4

A ERP

5

B JIT

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