Business Mgmt 1 Unit 1 vocab flash cards

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Administrative

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Related to the management and organization of a business’s operations, including clerical duties and support roles that facilitate functionality.

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Management

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The process of planning, organizing, leading, and controlling resources within an organization to achieve specific goals and objectives.

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Finance

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A field concerned with managing, obtaining, and investing funds for individuals and organizations, involving strategic decision-making related to financial assets.

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Marketing

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The activities associated with promoting, selling, and distributing a product or service, focusing on creating value and managing customer relationships.

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Operations

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The area of business that involves overseeing the production and delivery of goods and services, ensuring efficiency and effectiveness in processes.

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Occupation

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A job or profession that involves specific duties and responsibilities; the type of work that a person does to earn a living.

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Traits

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Inherent characteristics or qualities that define an individual, such as leadership, communication skills, and problem-solving abilities, essential for success in business environments.

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Earnings

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The income received for work or services rendered, often influenced by factors such as job position, experience, and industry.

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Administration

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The activities involved in managing an organization, including planning, organizing, and coordinating tasks.

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Organizing

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The process of arranging resources and tasks to achieve the objectives of a business.