Intro to Business Vocab

Refers to the people assets who work for an organization, and the business function responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees.

• Human Resources

• Operations Management

• Financial Services

• Marketing Department

The daily functioning of an organization, managing the inputs and outputs, and includes manufacturing, purchasing, and logistics.

• Operations

• Management

• Administration

• Coordination

The enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and for the benefit of society as a whole.

• Marketing

• Sales

• Advertising

• Public Relations

customized, knowledge-based services provided for a fee, like a tax accountant or lawyer.

• Consulting

• Professional

• Amateur

• Volunteer

A route or plan of action designed to achieve certain goals and objectives.

• Tactic

• Strategy

• Procedure

• Method

The process of recording, maintaining, and reporting an organization’s financial transactions and records.

• Finance

• Bookkeeping

• Accounting

• Auditing

ROI measures the gain or loss generated on an investment, compared to the amount of money invested; ROI is usually expressed as a percentage.

• Return on Investment (ROI)

• Rate of Interest (ROI)

• Return on Income (ROI)

• Revenue on Investment (ROI)

A for-profit or non-profit organization involved in commercial, industrial, or professional commerce.

• Business

• Charity

• Government

• Non-Governmental Organization

A business function that involves people, processes, and systems that collect, organize, store and secure relevant data and information, and makes it accessible and useful for making informed decisions.

• Data Management

• Information Management

• Knowledge Management

• Content Management

A company's purpose; its reason for being; the problem it is solving.

• Vision

• Objective

• Mission

• Strategy