TFSS DECA Guidebook 2019-20

TURNER FENTON DECA

TFSS DECA
GUIDEBOOK
2019-20

TURNERFENTONDECA.COM

TFSSDECA
EVENTS
2019-20

INDIVIDUAL SERIES
EVENTS

PRINCIPLES OF BUSINESS Accounting Application Series ACT
ADMINISTRATION CORE Apparel and Accessories Marketing Series AAM

Principles of Business Management and Administration PBM Automotive Services Marketing Series ASM
Principles of Finance PFN Business Finance Series BFS
Principles of Hospitality and Tourism PHT
Principles of Marketing PMK Business Services Marketing Series BSM
Entrepreneurship Series ENT
Food Marketing Series FMS

Hotel and Lodging Management Series HLM

WRITTENS EVENTS Human Resources Management HRM
Marketing Communication Services MCS

Business Services Operations Research BOR Restaurant and Food Service Management Series RFSM

Financial Consulting FCE Retail Merchandising Series RMS

Professional Selling PSE Personal Finance Literacy PFL

Hospitality and Tourism Professional Selling HTPS

Start-Up Business Plan ESB TEAM DECISION MAKING
Integrated Marketing Campaign Event IMCE EVENTS
Integrated Marketing Campaign Service IMCS

Integrated Marketing Campaign Product IMCP Business Law and Ethics BLTDM
Independent Business Plan EIB Buying and Merchandising BTDM
Innovation Plan EIP
International Business Plan IBP Entrepreneurship ETDM
Franchise Business Plan EFB Financial Services FTDM
Buying and Merchandising Operations BMOR Hospitality Services HTDM
Finance Operations FOR Marketing Management MTDM
Hospitality and Tourism Operations HTOR Travel and Tourism TTDM

Sports and Entertainment Operations SEOR

TURNER FENTON DECA

UNACCEPTABLE
DURING DECA
ACTIVITIES:

Skin-tight or revealing clothing
Midriff-baring clothing
Swimwear
Athletic clothing
Leggings or graphic designed
hosiery/tights
Clothing with printing that is
suggestive, obscene or promotes
illegal substances
Unacceptable types of dress shoes
include canvas or fabric shoes, flip
flops or casual sandals, and
athletic shoes

TURNER FENTON DECA DRESS
CODE

WHEN APPEARING
ON STAGE
OR BEFORE
JUDGES:

Blazer
Dress slacks or dress skirt or
business dress
Collared dress shirt and
appropriate neckwear (necktie,
ascot, scarf) or Dress blouse
Dress shoes

PRE-
PRESENTATION
TIPS & ADVICE

IT’S COMPLETELY NORMAL TO FEEL A LITTLE
NERVOUS BEFORE PRESENTING A CASE STUDY
IN FRONT OF A JUDGE. HERE ARE SOME TIPS
TO HELP YOU ACE THAT CASE STUDY:

Practice: doing case studies with a friend or with
yourself in the mirror. Create your own presentation
style that you can use for any case that comes your
way!
Be Physically and Mentally Ready: Get a good night’s
rest, keep yourself fed and hydrated, and do something
that makes you happy and  boosts your mood! 
SMILE: Smiling helps stimulate confidence and calm. You
come off as more welcoming and friendly, increasing
your likeability in the eyes of your judge, as well as
making yourself feel better. 
Visualize: Picture yourself walking into your case study
and acing it! It’ll help you want to achieve that goal and
feel more ambitious and determined when presenting.  
Arrive Early: Be sure to arrive at least 10 – 15 minutes
earlier than the allotted time to allow yourself to
gather your thoughts. Here at TFSS DECA we like to
say, “on time” is late and “early” is on time! The last
thing you want is to be nervous AND late for your case
study. 
HAVE FUN: Just take a deep breath and do your best!
DECA is all about the experience!

TURNERFENTONDECA.COM

GENERAL
STATS

Here are some stats you can use in
your next case to impress your judge!

Customer Service TURNER FENTON DECA | 2019-20

IT TAKES 12 POSITIVE EXPERIENCES TO
MAKE UP FOR ONE UNRESOLVED NEGATIVE
EXPERIENCE.  

NEWS OF A BAD CUSTOMER SERVICE
REACHES MORE THAN TWICE AS MANY
EARS AS PRAISE FOR GOOD SERVICE
EXPERIENCE. (WHITE HOUSE OFFICE OF
CONSUMER AFFAIRS)  

IT IS 6-7 TIMES MORE EXPENSIVE TO
ACQUIRE A NEW CUSTOMER THAN IT IS TO
KEEP A CURRENT ONE. (WHITE HOUSE
OFFICE OF CONSUMER AFFAIRS)

Social Media

86% OF PEOPLE SKIP TV COMMERCIALS.
44% OF DIRECT MAIL IS NEVER OPENED.
(NEWSCRED) 

ARTICLES WITH IMAGES GET 94% MORE
VIEWS THAN THOSE WITHOUT.
(NEWSCRED) 

72% OF ALL INTERNET USERS ARE NOW
ACTIVE ON SOCIAL MEDIA (JEFF BULLAS)

Advertising

90% OF INFORMATION TRANSMITTED TO
THE BRAIN IS VISUAL, AND VISUALS ARE
PROCESSED 60 000X FASTER IN THE BRAIN
THAN TEXT. (3M CORPORATION AND
ZABISCO)

40% OF PEOPLE ARE VISUAL LEARNERS.
(ZABISCO) 

YOU ARE MORE LIKELY TO SUMMIT MOUNT
EVEREST THAN CLICK A BANNER AD.
(SOLVE MEDIA)

TURNER FENTON DECA

EXAM
DO'S AND DON'TS

EXAM DO'S EXAM DON'TS

Read the question asked Do not second-guess
MULTIPLE times  yourself - trust your gut
instinct. Often your first
Check the scantron/exam answer you choose is
over multiple times correct 
 
Do many, MANY practice Do not linger - if there is a
exam questions and take question you are unsure
notes from the correct about, leave it and come
answers  back at the end 

Take the entire time Do not take too long on
provided every question but don't
rush. Take as much time as
Double-check your needed to answer the
calculations as soon as you question but make sure you
do them, and then once more have enough time at the end
when you review at the end.  to come back and go through
and review the entire exam
Bring a calculator and again 
multiple pencils (Pens will
not work on scantrons

TURNER FENTON DECA

CASE STUDY
DO'S AND DON'TS

CASE STUDY DO'S CASE STUDY DON'TS

Be energetic, confident and Clichés- Do not say phrases such as "in
enunciate  conclusion", or "it's an honour to... "
talk like you normally would 

Pause for emphasis when you Grasping- get your point across the
state a buzz word or when first time, do not start clarifying
switching Pl' s  yourself by saying "what I mean is... " or
"basically... " Replace it with "This idea
Remember to re-roadmap at the enables us to .." or "An alternate
end, and state the BEST ideas solution would be to..." 
for each Pl along with it. 
Weasel Words- avoid saying words like
Strong handshake in beginning "I think... " or "I believe..." or "In my
and END   opinion... " makes you sound less
confident 

Begin speaking maintaining eye Do not stare your listener down. Break
contact with your judge. It can eye to eye contact every four or five
instill trust in the listener. seconds 

Use appropriate hand gestures Do not over exaggerate your hand
(use meaningful movement, to gestures. (i.e. flapping your arms) 
keep audience attentive) 
Do not slouch or frown 

SMILE Do not read off your Performance
Indicators word for word - paraphrase
them into your own words (though KEY
words can be repeated)

HOW TO PRESENT TURNER FENTON DECA

Start off with your GNAP: Greeting, Name, Association and Place (ex. My name is Billy-Joe Bob,
Chapter member of the Turner Fenton DECA chapter)

Start with an attention grabber

SWOT Analysis

Roadmap - go through your PIs (Performance Indicators-the assigned criterion of topics/concepts
you are expected to the cover during your presentation) in the order you will be presenting.

Step by step go through your PIs - describe the concept BRIEFLY. When you're relating how it ·
connects to the case, you'll be explaining the concept either way through application

Roadmap again - close off by restating the main points

Strong finish + Handshake

*=interchangeable in order

Keep in mind while presenting...

...Transitions: (Firstly, regarding A, it is critical that we, moving onto B, we need to recognize that,
with regards to C, we recommend a strategy, etc.)

TIME DISTRIBUTION: TURNER FENTON DECA
TACKLING A CASE STUDY

INDIVIDUALS TEAMS

l min - read case (skip 2-5 min - read the case study
the instructions - thoroughly (skip the instructions -
they're  always the they're always the same) and note
same)  down your essentials  

6 min - solve your  10-15 min - solve your Pis and make
PIs and make jot jot notes. Listen to one another's
notes   points and understand one 
another's strengths/weaknesses to
2 min - put it all divide who says what properly and
together and plan effectively
your  presentation
(prepare visual aids, 5-7 min - make visuals, plan and
memorize  your practice your presentation as best
GNAP, etc.) as you can 

2-3 min - make any last-minute
additions and review all of your
content. Take a deep breath, and
prepare yourself to enter
professionally into your case study.

TURNER FENTON DECA

VISUAL
PRESENTATION
STYLES

THESE ARE METHODS THAT HELP
LEAD THE JUDGE LOGICALLY TO
YOUR CONCLUSION AND PROVIDE
VISUAL CUES.

1.POWERPOINT METHOD:

Rip your page into approximately equal squares
(don't waste time with it. It doesn't need to be
perfect). Alternative: fold your papers in half so that
the slide stands up on its own. On the first page,
write a command term (ex. Visualize, Think, etc.) On
each page have a graphic of some sort (ex. chart of
graph) or write a key word, usually an action word or
the main word of your Pl. On the back of each slide,
write down your jot notes so that you can look at
them if needed, while still guiding your
presentation. BONUS: If you get time, number your
pages so that the judge can refer back to your
presentation after you are done.

2.CONCEPT MAP:

Same as the Powerpoint Method,
but put your key words all on the
same page, with arrows between

them leading from beginning to
end.  Write all your jot notes on

the back of that concept map.

TURNER FENTON DECA

PURPLE COWS

PURPLE COWS ARE MEDAL
WORTHY: MEMORABLE, EXCEED

EXPECTATIONS, DIFFERENT

WHAT IS A PURPLE COW?

Essentially, it's what makes you different-if
you were driving down the road and saw a

cow in a farm, you would be indifferent, but
a purple cow is something you would

remember. These are the little things that
make YOU stand out to your judge.

PURPLE COW EXAMPLES

Using visuals to represent your ideas.

Using famous quotes or statistics.

Making connections to the real world.

Give the judge your “business card”

Using buzzwords that SUIT your context.

Using a unique, and organized flow when delivering your
recommendation to the judge.

Asking your judge questions, such as "Would you like me to
go in further detail regarding this?" or "Would you like me to

clarify anything up till this point of discussion?" or simply,
"How are you doing today?" at the beginning of your case.

WRITTENS
COMPETITORS

WHAT IS WRITTENS?

Events that allow for competitors to prepare a
project over the course of the school year are
categorized as Writtens Events. Chapter members
selected for this competitive event will have to
present an oral presentation, alongside either a
business report, a written exam, or both. Please
refer to the Writtens Guidelines corresponding to
your event for more specific information of
expectations.

WHAT WRITTENS
EVENTS CAN TFSS
STUDENTS COMPETE IN?

Integrated Marketing Campaigns: IMCE, IMCP, IMCS

Consulting Events: HTPS, PSE, FCE

Business Management and Entrepreneurship Events:
EIB, EIP, IBP, ESB, EFB

Business Operations Research: BOR, BMOR, FOR,
HTOR, SEOR

THE KEY TO THE PERFECT
PRESENTATION: VISUALS

Be creative and professional

Have a balance between design and content

Visuals completed in the past include: google slides,
brochures, menus, posters, booklets and business
cards

Make sure your visuals can be presented in the
absence of the internet, and are handheld

ORAL PRESENTATION: HOW TO
KEEP THE JUDGE ENGAGED

During the introduction, make sure you stay in
character

Speak with a confident, professional and coherent
tone

Rehearse and know what you are going to say
(recommend memorizing) 

Smile and maintain eye contact

SECRET TO SUCCESS: TIME
MANAGEMENT

Follow the timeline made at the start of the school
year

(you can adjust this as needed)

Make sure you have enough time to create and order
your visuals, as well as practice your presentation

The earlier you get your project requirements done,
the more time you will have to practice

TURNER FENTON DECA

WRITTENS REPORT DO'S

Include visuals that enhance the information
you are getting across to the judges
Only put information that is necessary (you
can save some information for your
presentation)
Let the score sheet for your event be the
blueprint of your report
Include the exact vocabulary from the rubric
and guidelines in your writing
Enlist the help of your advisors, friends,
trusted family, and outside sources to give
you feedback on your paper
Get creative with the formatting of your
report
Write your executive summary last (it will
help you determine what information is
absolutely necessary)
If you can, substitute text for bullet points or
flow charts
A respectable content-to-visual ratio for
every page (that isn’t financials) is 75:25

TURNER FENTON DECA

WRITTENS REPORT DON'TS

Do not get too attached to the first
draft of your report (there are always
changes and improvements you can
make even if you think there isn’t)
Do not use contractions and slang
words
Do not put unnecessary images (they
will take up space)
Do not get overwhelmed with the
required length of the report (often
times the required length directly
correlates with the information that is
required to be included)
Do not make your executive summary
longer than 1-2 pages
Do not leave your report for last-
minute (depending on your event, your
presentation can count for as much as
50% of the overall score, meaning your
paper also counts for 50%)

TURNER FENTON DECA | 2019-20

MORE TIPS

Making youself stand out in your case is what will help
you win that medal!

REMEMBER TO: SWOT ANALYSIS AND
APPLICATION
Add a purple cow worthy aspect 
ESSENTIALLY, IDENTIFY THE
Define the Pl  STRENGTHS AND

Explain the significance/importance W E A K N E S S E S ( I N T E R N A L } ,

to business  OPPORTUNITIES AND 

Connect Pl to problem of business THREATS (EXTERNAL} 

STUDY RESOURCES: COMBINE THEM TO FORM
STRATEGIES TO HELP COME
DECA has its own set of exams, Pl lists,
bell ringers (Pl answers}, and case UP WITH A SOLUTION

studies, which are available on  school  TIP: MEMORIZE A BASIC

chapter websites and the official DECA S W O T A N A L Y S I S F O R Y O U R  

websites as well.  CLUSTER/EVENT TO REFER
TO AND ADD ON TO

Investopedia, Crash Course, Khan DURING  YOUR
Academy, Accounting 101, 360 Financial PRESENTATION 

Literacy, MIT Open Courseware, Warren DRAWING OUT A SWOT
Buffet's Secret Millionaires' Club TABLE AS A VISUAL MAY
website, and YouTube are great ALSO NOT BE A BAD IDEA.
resources too.

EVALUATION

The judge will become familiar with all of the event
guidelines before starting to evaluate event

components and use the following definitions
when completing the scoring.

EVALUATION ROLE PLAY
SCORING
A MAXIMUM SCORE OF “EXCEEDS

EXPECTATIONS” IN ANY CATEGORY MEANS A LIST OF PERFORMANCE INDICATORS

THAT, IN THE JUDGE’S OPINION, THE SPECIFIC TO THE SCENARIO IS INCLUDED IN

INFORMATION IS PRESENTED EFFECTIVELY THE EVALUATION. THESE ARE DISTINCT

AND CREATIVELY; NOTHING MORE COULD BE TASKS THE PARTICIPANTS MUST

ACCOMPLISH DURING THE ROLE-PLAY OR

EXPECTED OF A PARTICIPANT.  CASE STUDY. THE JUDGE WILL EVALUATE

THE PARTICIPANTS’ PERFORMANCE ON

A “MEETS EXPECTATIONS” RATING MEANS THESE TASKS AND ON SEVERAL FOLLOW-UP
THAT THE INFORMATION IS PRESENTED QUESTIONS. THE JUDGE WILL COMPLETE
WELL. THOUGH THERE MAY BE A FEW MINOR THE PRESENTATION EVALUATION FORM.

PROBLEMS OR OMISSIONS, THEY ARE NOT WRITTEN EVENT
SIGNIFICANT. CREATIVITY, HOWEVER, IS SCORING
NOT SHOWN TO ANY GREAT DEGREE.

A “BELOW EXPECTATIONS” SCORE MEANS A LIST OF PERFORMANCE INDICATORS
THAT THE INFORMATION PRESENTED DOES SPECIFIC TO THE SCENARIO IS INCLUDED IN
NOT MEET MINIMUM STANDARDS OF
ACCEPTABILITY. THE EVALUATION. THESE ARE DISTINCT
TASKS THE PARTICIPANTS MUST
 A “LITTLE/NO VALUE” SCORE MEANS
EITHER THAT SOME MAJOR FLAW HAS BEEN ACCOMPLISH DURING THE ROLE-PLAY OR
NOTED THAT DAMAGES THE EFFECTIVENESS CASE STUDY. THE JUDGE WILL EVALUATE
OF THE INFORMATION (THIS MAY BE A
MAJOR OMISSION, A SERIOUS THE PARTICIPANTS’ PERFORMANCE ON
MISSTATEMENT, POOR COMMUNICATIONS THESE TASKS AND ON SEVERAL FOLLOW-UP
OR ANY OTHER MAJOR FLAW) OR THAT THE
INFORMATION PRESENTED IS OF NO VALUE QUESTIONS. THE JUDGE WILL COMPLETE
(DOES NOT ADDRESS THE PROBLEM AT THE PRESENTATION EVALUATION FORM.
ALL). A COMBINED TOTAL SCORE OF 70 OR
BETTER ON THE WRITTEN AND
PRESENTATION SECTIONS WILL EARN THE
PARTICIPANT/TEAM DECA’S CERTIFICATE OF
EXCELLENCE AT THE INTERNATIONAL
CONFERENCE.

TURNER FENTON DECA | 2019-20

BUSINESS BASICS

Business - any activity that provides goods/services
for the purpose of making a profit. 

Owners - Start and run the company (hire employees) 

Employees - work and serve customers

Customers - pay money and thus fund owners and
employees 

Management - planning, organizing, directing and
controlling a company's resources so that it can
achieve company goals 

Operations - converting resources into goods/services
to ensure products are high quality 

Marketing - everything a company does to identify
customer needs/wants and to design products to meet
those needs/wants 

Accounting - measuring, summarizing and
communicating financial and managerial info and
advising other managers on financial matters

Finance - planning for, obtaining and managing a
company's funds

ECONOMICS

SUPPLY AND DEMAND

Demand - the quantity at which buyers are willing to
purchase at various prices (focuses on CONSUMER
who wants to buy as much at the lowest price possible)
Supply - quantity at which sellers are willing to sell at
various prices (focuses on SELLER who wants to sell as
much at the highest price possible) 
Equilibrium price - price at which buyers are willing
to purchase and sellers are will to sell at. There are no
shortages or surplus since supply= demand.

ECONOMIC CYCLE

Prosperity - expanding economy, low unemployment,
high GDP, high incomes, lot of consumer spending 

Recession - slowdown in economy, greater
unemployment, lower GDP, less spending (leads to
depression or recovery} 

Recovery - down in economy starts growing again,
lower unemployment, rising GDP, more consumer
spending

Depression - severe, long last recession, though the
cycle does not always come to this phase

Gross Domestic Product - value of all goods and
services produced within a country's economy in a
given year. 

GDP per Capita - measure of a country's economic
output that accounts for its number of people.

ECONOMIC SYSTEMS

The way resources (factors of production) are
controlled within a nation and how they are
distributed among the population defines an economic
system

Command (Planned) Economy -  Government controls
most/all resources  

Communism - government owns the factors of
production and decides how to use resources.
Decisions are made to benefit all people with no
individual decisions being made. 

Socialism - government controls critical industries but
individuals can run non-critical businesses.
Government chooses critical industries depends on
importance to economy.

Market Economy - Government is not involved and
resources are distributed based on supply and demand 
Market is a mechanism of exchange of goods/services
with private ownership of everything (therefore, there
is a price for everything)

Mixed Economy - Shares aspects of both Planned and
Market economies

MARKETING STRATEGY

Marketing Process

Step 1: Segmentation 

Segment industry to find gaps (STEEPLE: Social,
Technological, Economic, Ethical, Legal,
Environmental)

Step 2: Targeting (3 Strategies) 

Undifferentiated - same strategies for all target
markets (good for mass marketing where value is
added for all different targets) Example: Oil (gasoline),
soft drinks, white bread

Differentiated - two or more strategies to reach
markets with different values equations (higher
cost) Example: Nike Running Shoes: Speed vs.
Comfort

Targeted - very specific Example: Google tracking
your searches and recommending ADs.

UTILITIES

Utilities are the types of value added to product: 

Time utility - product is available when needed (ex.
24-hour groceries) 

Place utility - product is available where needed (ex.
Tims is everywhere) 

Ownership utility -  is it easy to change possession of
product (ex. can be bought with cash, credit, debit,
points, etc.)

Form Utility - value created by changing the
composition of product (ex. appearance - iPhones are
available in many different colours) 

Competitive Advantage - Whatever puts the company
in a superior or favourable position (why someone
would choose you over another) 

Sustainable CAs - Unique Selling proposition, lower
production costs, servicing a niche market, customer
loyalty 

Non-sustainable CAs - Promotion, placement in
industry, quality, benefits of use (mine is better than
yours), price

DECA VOCAB:

Performance Indicators (PI): Specific knowledge and skills students are expected to
address and perform during their competition.

Instructional Area (IA): Broad areas of content knowledge (i.e., promotion, pricing,
emotional intelligence, business law) that are comprised of many performance
indicators.
Outsource: Obtain goods or services from an outside supplier 
Overdraft: Withdrawing excess, resulting in a negative balance 
Private Enterprise: an economic system in which individuals and groups, rather than
government, own or control the means of production, also known as free market
economy, private profit system, market system, capitalism, or free enterprise system 
Small Business: Business comprised of less than 500 people 
Sole Proprietor: Receives all the profits from the business but also assumes the risks
of operating the business 
Statement of Work: A document that gives project specific activities and deadlines 
Tort: Any wrongdoing for which an action for damages may be brought 
Franchise: A business operated under an authorization to distribute a company's
goods in a particular area 
Intellectual Property: Exclusive rights are given to ideas that someone thinks of such
as music, words, or other intangible creations. 
Lateral Communication: Interaction between people of the same hierarchal level within
a company
 Limited Liability: a condition in which business owners risk only the amount of their
investments 
Corporate Culture: Either written, spoken, or  understood: governs the way people act
around the workplace

A N N U A L R E P O R T 2 0 1 9Corporation: A company authorized to act as a single entity and is owned by investors

but functions independently 
Ergonomics: The study of people's efficiency in their working environment

[CORBEU] SAINNDESESNTARDEMPIRNEINSETURARTSIHOINP

Accountability: Responsibility to someone or for some activity 
Administration: A method of tending to and operating a business 
Analyst:  An expert who studies financial data and recommends appropriate

business actions  
Appropriation: Money set aside (as by a legislature) for a specific purpose

 Brand promise: Company commits to delivering a product with certain
qualities to its audience  

Commission: Amount paid to an employee based on a percentage of an amount
received  

Cookie: A short line of text that a web site puts on your computer's hard drive
when you access the web site 

Malware: Illegal computer program that is used to disrupt computer processes,
destroy computer programs, and access confidential business info

Open House: An event sponsored by a lodging facility in which prospective
guests are invited to tour the facility, meet management, and usually enjoy

refreshments
Par Level: The amount of supplies needed to stock the  hotel for one night

Lower Tier: Describes a full-service hotel that offers several services and
amenities, but caters to a frugal customer

Mid Tier: Describes a full-service hotel that caters to business travelers,
usually with meeting rooms, some in-room services and amenities, a pool, and

shuttle service to an airport or train station 
Full-service Hotel: A lodging property that offers a full range of services and

ANNUAL REPORT 2019

amenities including recreational services, food and beverage services, a bell
staff, a concierge staff, a housekeeping staff, a front desk, and maintenance 

HOSPITALITY

Cumulative Attraction: A term for lodging located near other attractions
such as amusement parks, convention centers, or well-known
restaurants 
Date-Time Stamping Machine: A machine that stamps a date and time
on correspondence or forms; used to keep track of guest check in and
check out, and hotel correspondence 
Destination market: A popular tourist attraction, such as the Grand
Canyon, that attracts a large number of visitors 
Euro Plan: A lodging pricing plan in which no meals are included in the
price of the room 
Price Discrimination: When a company sells the same product to a
different customer at different prices based on personal characteristics 
Price Gouging: Raising prices on certain kinds of goods to an
excessively high level during an emergency 
Product Life Cycle: Stages a product or a product category goes through
from its beginning to end 
Four P's of Marketing: Product, Price, Place, Promotion 
Competition Based Pricing: Strategy based primarily on  what the
competitors charge 
Competitive Advantage: A part offering better superior features or
services than competition 
Consumer: Individual who purchases goods/services for personal use 
Creditor: Individual or business to who money is owed for goods or
services provided

FINANCE

Accounts receivable: Amounts of money owed to a firm by
customers who have bought goods or services on credit 
Accrued expenses: Amounts owed but not yet paid  for
wages, taxes, interest, and dividends.

 Asset: An item of property, such as land, capital, money, a
share in ownership, or a claim on others for future payment,

such as a bond or a bank deposit 
Average cost: Total cost divided by output 
Barter: The exchange of goods for goods, without using

money
Bear Market: When stock prices decrease over time, it may

indicate a downturn in the market
Bid rate: The rate at which a market maker is willing to buy

the quoted asset.
Break-Even Point: The point at which revenue from sales

equals the costs 
Bond: A debt investment in which an investor loans money

to an entity (corporate or governmental) that borrows the
funds for a defined period of time at a fixed interest rate.

MARKETING

Adaptability: The ability to make changes to be a better match or fit in
new situations 
AIDA: Attention, Interest, Desire and Action Ambush
Marketing: A planned effort by an organization to associate itself
indirectly with an event to gain some of the recognition and benefits
associated with being an official sponsor 
Asset: An item of property, such as land, capital, money, a share in
ownership, or a claim on others for future payment, such as a bond or
a bank deposit 
Bait and Switch: Practice of advertising one product with the intent of
persuading a customer to buy a  more expensive item when they arrive
in the store   
Brand Personality: The projection of a brand that encompasses its
values and emotional connections with consumers 
Inflation Rate: Rate of change of prices calculated on a monthly or
yearly basis.
Insurance: a form of risk management in which we transfer all or a
portion of our financial risk in a particular circumstance to an insuring
body. 
Insurance Premium: The payment cost of an insurance policy Liquid
Assets: Cash and the items of a business owns that can be easily
turned into cash

MARKETING CONT.

Return on Investment: the profitability of an investment.
(Net profit/Cost of investment x 100) 

Risk management: the process of identifying, assessing, and
prioritizing risks in order to maximize the use of risk management

tools to minimize loss in the case of an unfortunate event. 
Dividend: The amount paid each quarter by a corporation to its

stockholders for each share of stock 
Gross Profit: Amount of profit before subtracting the costs of doing

business 
Hedge Fund: A pooled investment fund that uses many types of

aggressive investment strategies to maximize returns 
Income Statement; Financial report that shows the revenue and

expenses for a business during a specific period of time 
Credit: An entry recording an amount received, listed on the left-hand

side or column of an account 
Credit Score: a numerical expression based on the credit history of an

individual that is used to determine their creditworthiness. 
Derivatives: an investment agreement between two or more parties

where the value is determined by a particular stock, index fund, or
other types of financial assets. 

Capital Gain: The difference between the purchase price and the sales
price of an asset. 

Capitalism: An economic system that is based on private ownership

MEET YOUR 2019-20
CHAPTER EXECUTIVE TEAM!

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