Business and Its Publics/2009 Section 25 Vocabulary Wiki

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Business and its Publics (BiP) 2009. Section 25 Vocabulary Wiki.[edit | edit source]

Enter new vocabulary terms here, and sign your name. Then contribute definitions to open vocabulary terms. BiP2009S20 20:51, 20 January 2009 (UTC)

Enter new definitions in the format of Definition List as follows:

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Longer Phrase
phrase defined at length, such that, even with a relatively large window width one can see that the wrapping of the text maintains the indentation of the definition and thus a highlight of the defined term. This accentuates readability of the list.

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in most cases (i.e. science, electrical engineering) refers to ratio of signal power to noise power corrupting the signal. However, informally, it means the ratio of useful information to false or irrelevant data. This is important for our Cycle 1 position paper because in order to construct a legitimate, convincing argument, we must only include sources and discuss material that pertain to our stand on the issue. Including or analyzing information that is off topic or attacking an opponent that doesn't matter weakens the essay.

[please correct if I'm wrong]

Source: Wikipedia

Jenny Wu

a tax law provision granting exemption from the federal income tax to non-profit organizations. Exemptions apply to corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or to foster national or international amateur sports competition, or for the prevention of cruelty to children or animals.

source: Wikipedia

Yoo Hyun (Jean) Kim

Duty or obligation to pay money, deliver goods, or render service under an express or implied agreement
In double-entry bookkeeping, entry on the left-hand side of an account record. It has the effect of decreasing a capital, liability, or revenue account, or of increasing an asset or expense account.
Excess of expenses over income or liabilities over assets


Jenny Wu

WTO, IMF, and NGO are all considered TLA's because they are Three Letter Acronyms or Three Letter Agencies

Source: Wiktionary

Jenny Wu

WTO: World Trade Organization - international organization designed to supervise and liberalize international trade.

    • The World Trade Organization deals with the rules of trade between nations at a near-global level; it is responsible for negotiating and implementing new trade agreements, and is in charge of policing member countries' adherence to all the WTO agreements, signed by the majority of the world's trading nations and ratified in their parliaments. (Erin Potts, Wikipedia and

IMF: International Monetary Fund - international organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rates and the balance of payments.

NGO: Non-governmental Organization - term that has become widely accepted for referring to a legally constituted organization created by natural or legal persons with no participation or representation of any government.

    • NGOs vary in their methods. Some act primarily as lobbyists, while others conduct programs and activities primarily. NGOs are not subjects of international law, as states are. An exception is the International Committee of the Red Cross, which is subject to certain specific matters, mainly relating to the Geneva Convention.(Erin Potts, Wikipedia)

Source: Wikipedia

Xin Yu

incremental, additional, marginal

marginal: Referring to the next additional smallest unit added to the current total

Souce: business

Titilayo Arasi


An increase, either of some fixed amount, for example added regularly, or of a variable amount.

For example, a salary may receive an annual increment.


Further or added, (possibly) added to complete or make up a deficiency

- Katlin Montali (

De Facto: existing in fact whether with lawful authority or not


Albert Schmool

mark to market
The daily revaluation of securities to reflect their current market value instead of their acquisition price or book value. Also referred to as marked to market or marking to market.

Saumya Goel (

Least Developed Countries (LDCs or Fourth World countries) are countries which according to the United Nations exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world.

Based on low-income ,human resource weakness (based on indicThe Millennium Development Goals (MDGs) are eight goals to be achieved by 2015 that respond to the world's main development challenges.ators of nutrition, health, education and adult literacy),economic vulnerability

Source: Wikipedia Shiqi Ruby Chen


Shiqi Ruby Chen

Gross National Income (GNI)
comprises the total value produced within a country (i.e. its Gross Domestic Product), together with its income received from other countries (notably interest and dividends), less similar payments made to other countries

Source: Wikipedia Jenny Wu

The Millennium Development Goals (MDGs) are eight goals to be achieved by 2015 that respond to the world's main development challenges.

1.) Eradicate extreme hunger and poverty 2.) Achieve universal primary education 3.)Promote gender equality and empower Women 4.) Reduce child mortality 5.) Improve maternal health 6.) Combat Aids/HIV, malaria, and other diseases 7.) Ensure environmental sustainability 8.) Develop a global partnership for development

The eight MDGs break down into 21 quantifiable targets that are measured by 60 indicators. Source: United Nations Development Program Andy Wang

Sustainable Development: Development that meets the needs of the present without compromising the ability of future generations to meet their own needs

Source: World Commission on Environment and Development (1987)

Marc Rofsky

Social Entrepreneurship: Social Entrepreneurship creates new models for the provision of products and services that cater directly to basic human needs that remain unsatisfied by current economic or social institutions

Source: Steelos and Mair

Marc Rofsky

Six Sigma

Jenny Wu

Six Sigma: Well controlled process that is ± six sigma from the centerline of a control chart; thus, no defects within six standard deviations at the target level of performance. It translates into 0.00034 percent defects (3.4 defects per million) or, in practical terms, zero defects.

Titilayo Arasi Source: Business Dictionary

Baumol's disease (prediction)
personal services are dondemned to grow more expensive (relative to other items) over time - the prices of personal services (such as education and entertainment) will rise relative to the prices of manufactured goods (such as cars and telephone calls).

Why is this important in the future?

Katlin Montali (Source: BiP Book!)

Gross Domestic Product (GDP)
The total market value of all goods and services produced in a country in a given year, equal to total consumer, government, and investment spending, plus exports, minus imports.

Saumya Goel Source:

private limited company Type of incorporated firm which (like a public firm) offers limited liability to its shareholders but which (unlike a public firm) places certain restrictions on its ownership. These restrictions are spelled out in the firm's articles of association or bylaws and are meant to prevent any hostile takeover attempt.

Source: Business Titilayo Arasi

529 Plans
A state-sponsored program designed to help parents finance education expenses; allows prepayment of qualified higher education expenses at eligible educational institutions. Section 529 plans are administered by certain investment companies and subject to contribution requirements and investment guidelines

Source: and Jenny Wu