Accountant

One who is trained and qualified in the practice of accounting or who is in charge of public or private accounts.

Action-Centered Leadership

A type of leadership that involves leaders effectively operating remotely and negotiating the needs of the individual, team, and task within a changeable environment.

Administrative Expenses

Necessary expenses associated with the general operation of an organization that cannot be attributed to any one department or business unit.

Alpha

A coefficient which measures risk-adjusted performance, factoring in the risk due to the specific security, rather than the overall market. Alpha personalities are dominant in groups, in contrast with Betas.

Ambition

An strong desire for some type of achievement or distinction, such as power, honor, fame, or wealth, and the willingness to strive for its attainment.

Annual Report

Audited document required by the Securities Exchange Commission in the US and sent to a public company’s or mutual fund’s shareholders at the end of each fiscal year, reporting the financial results for the year (including the balance sheet, income statement, cash flow statement and description of company operations) and commenting on the outlook for the future.

Backward Thinking

Thinking, commonly viewed with a negative connotation, that is typically not in sync with that of the organization or majority.

Benchmark

A standard, used for comparison.

Beta Testing

Following internal alpha testing, external beta testing can be considered a form of external user acceptance testing. Versions of a new product, known as beta versions, are released to a limited audience outside of the company and development team. The product is released to groups of people so that further testing can ensure the product has few faults.

Blue-Collar

A blue-collar employee is a member of the working class who usually performs manual labor. Blue-collar work may involve skilled or unskilled, manufacturing, construction, mechanical, maintenance, technical installation, and many other types of physical labor.

Bottom Line

The amount left after taxes, interest, depreciation, and other expenses are subtracted from gross sales. Also called net earnings, net income, or net profit.

Bribery

The act or practice of giving or accepting a something of value in exchange for a favor.

Brick-and-Mortar Business

A company or portion of a company with a physical presence, as opposed to one that exists only on the Internet.

Business

A commercial activity engaged in as a means of occupation or income, or an entity which engages in such activities.

Business Broker

An individual or firm who acts as an intermediary between a buyer and a business owner, typically charging a commission.

Business Ethics

The examination of the variety of problems that can arise from the business environment, and how employees, management, and the business itself can deal with them ethically.

Business Plan

A document prepared by a company’s founder or management, or by a consultant on their behalf, that details the past, present, and future of the company, usually for the purpose of attracting capital investment.

Carrying Cost

The total cost of holding inventory.

Commission

A fee charged for a service in facilitating a transaction, such as the buying or selling of securities, goods or real estate.

Common Goal

The result or achievement toward which effort is directed by two or more people or organizations.

Comparative Advantage

The ability of one business entity to engage in production at a lower opportunity cost than another entity.

Compliance

The act or state of being in accordance with the relevant federal or regional authorities and their requirements.

Corporate Culture

The feel of a business; the values, atmosphere and way things are commonly done, often governed by unspoken rules and expectations. Every organization has its unique culture, whether intended or not.

Customer Service

The supply of service to customers before, during and after a purchase.

Direct Competition

When at least two people or organizations strive for a goal which cannot be shared or which is desired individually but not in sharing and cooperation.

Diversification

A portfolio strategy designed to reduce risk by combining a variety of investments, such as stocks, bonds, and real estate, which are unlikely to all move in the same direction.

Downsizing

Diminishing the total number of employees at a company through terminations, retirements, or spin-offs.

Economy

Activities related to the production and distribution of goods and services in a specific geographic region.

Empower

To give power or authority to another person or entity.

Employee

A person hired to provide services to a company on a regular basis in exchange for compensation and who does not provide these services as part of an independently owned business.

Engineer

A person trained and skilled in any of the various branches of engineering.

Entrepreneur

An individual who starts his or her own business.

Execution

A mode or style of performance.

Expansion

Growth.

Expenditure

A payment, or the guarantee of a future payment.

Favoritism

The favoring of one person or group over others with equal claims.

Financials

Documents related to finance.

Free Market

Business governed solely by the laws of supply and demand, not restrained by government interference, regulation or subsidy.

Global Marketplace

All business-related transactions that take place between two or more regions, countries and nations beyond their political boundary.

Globalization

Processes of international integration arising from increasing human connectivity and interchange of worldviews, products, ideas, and other aspects of business culture.

Goal

The result or achievement toward which effort is directed.

Graphic

A written, inscribed or drawn image.

Hierarchy

A system of persons or things ranked one above another.

Human Capital

The set of skills which an employee acquires on the job, through training and experience, and which increase that employee’s value in his or her industry.

Indirect Competition

Competition among businesses that sell or produce similar products, or products that fulfill similar needs.

Industry

A basic category of corporate activity.

Insight

An instance of apprehending the true nature of a thing through intuitive understanding.

Integrity

Adherence to moral, ethical and honest principles.

Internet

Commonly called a network of networks, the Internet is a global system of interconnected computer networks that use the standard Internet protocol suite to serve billions of users worldwide.

Internet Marketing

The marketing of products or services over the Internet. Also called web marketing, online marketing, webvertising, and e-marketing.

Interview

A discussion between two people where questions are asked by the interviewer in order to gather information from the interviewee. Often part of a hiring process.

Job Description

General tasks, functions and responsibilities of a professional position.

Joint Venture

A contractual agreement joining together two or more entities for the purpose of executing a particular business undertaking.

Key Players

Individuals who have a dramatic impact on the business, decision, or operations at hand.

Lawyer

A person, licensed by the government to practice law, whose profession is to represent clients in a court of law or to advise or act for clients in other legal matters.

Lead

A suggestion that helps to direct or guide. In sales a lead is a piece of information pointing to a potential customer.

Leader

An individual who guides.

Leadership Philosophy

A standard by which leaders hold themselves and their organizations accountable for performance.

Learning Organization

Any company that facilitates the learning of its members and continuously transforms and improves itself.

Loyalty

The state or quality of staying linked to something despite options to break the link or choose alternatives.

Manager

An individual responsible for one or more areas of a business.

Manpower

The set of individuals who make up the workforce of an organization.

Market Penetration

Occurs when a business penetrates a market in which current products already exist.

Market Share

The percentage of the total sales of a given type of product or service that is won by given company.

Market Test

A geographic region or demographic group used to gauge the applicability of a product or service in a marketplace prior to a wide-scale launch.

Marketing Plan

A written document that describes the necessary actions to achieve one or more marketing objectives. It can be for a product or service, a brand, or a product line.

McGregor’s Theory X

A theory of human emotion developed by Douglas McGregor that assumes that employees are inherently lazy and will avoid work if they can, and that they inherently dislike work. In response, management believes that workers need to be closely supervised and comprehensive systems of controls developed.

McGregor’s Theory Y

A theory of human emotion developed by Douglas McGregor that assumes that employees may be ambitious and self-motivated and exercise self-control, and that employees enjoy their mental and physical work duties.

Micro-manage

To manage or control with excessive attention to minor details.

Middle Class

The class of people in the middle of a societal hierarchy, between the lower, working class and the upper class.

Mission Statement

A statement of the purpose of a business or organization.

Motivation

The act or an instance of encouraging actions.

Multi-Level Marketing

A sales system under which the salesperson receives a commission on his or her own sales and a smaller commission on the sales from each person he or she convinces to become a salesperson. Sometimes called pyramid marketing.

Opportunity Cost

The cost of passing up the next best choice when making a decision.

Organization

A company, business, firm, or association.

Outsourcing

Work executed for a business by people other than the business’sfull-time employees.

Oversight

Supervision or watchful care.

Partner

A member of a partnership, either general or limited.

Peer

A person who is equal to another in abilities, qualifications, age, background, and social or legal status.

Performance

A particular deed, action or proceeding.

Personal Factors

Factors that pertain to one’s personal life that somehow impact that person’s professional life.

Personal Values

An absolute or relative ethical value, the assumption of which can be the basis for ethical action.

Personnel

A body of persons employed in an organization or place of business.

Product

The end result of the manufacturing process.

Product Development

The complete process of bringing a new product to market.

Productivity

The calculated amount of output per unit of input.

Professionalism

Performing within certain standards and expectations related to character, spirit or methods.

Project

Something that is contemplated, devised or planned.

Publicly Traded Company

A company with a fixed number of shares outstanding.

Punctuality

Strict observance of time in keeping engagements.

Rapport

Relation or connection.

Result-Oriented

Focused on a result, in thought or action.

Risk/Reward

A calculated measurement of the degree of risk inherent in a given investment in relation to the potential profit associated with it.

Role

Rights, obligations and expected behavior patterns associated with a particular status.

Sales

The total amount of money collected for goods and services provided.

Sales Force

A group of people whose only corporate responsibility is to sell a company’s products or services.

Sales Objectives

Targeted goals of a salesperson or sales force.

Sampling

The act or process of selecting a small but representative segment of something to test so that results can be extrapolated to a larger scale.

Search Engine Optimization (SEO)

The process of improving the popularity of a website or a web page in search engines’ un-paid (natural) search results. In general, the earlier (or higher ranked on the search results page), and more frequently a site appears in the search results list, the more visitors it will receive from the search engine’s users.

Self-Sufficient

Able to supply one’s own needs without external assistance.

Selling Expenses

Costs associated with the sales process.

Selling Techniques

The body of specialized procedures and methods used by salespeople to sell goods or services.

SEO Expert

An expert in search engine optimization techniques and procedures.

Service

A type of economic activity that is intangible, is not stored, and does not result in any kind of ownership.

Shareholder

One who owns shares of stock in a corporation or mutual fund. For corporations, along with the ownership comes a right to declared dividends and the right to vote on certain company matters, including the board of directors. Also called a stockholder.

Site

See Website.

Slogan

A memorable motto or phrase used as a repetitive expression of an idea or purpose.

Social Media

Web-based and mobile technologies used to turn communication into interactive dialogue between organizations, communities, and individuals. Social media is ubiquitously accessible, and enabled by scalable communication techniques.

Social Networking

See Social Media.

Software

An accumulation of computer programs and related data that provides the instructions for telling a computer what to do and how to do it.

Stalemate

Any position or situation in which no action can be taken or progress made.

Start-up

1. The beginning of a new company or new product.

2. A new, usually small business that is just beginning its operations, especially a new business supported by venture capital and in a sector where new technologies are used.

Strategic Leadership Theory

The theory that strategic leadership provides the vision and direction for the growth and success of a business.

Strategy

A planned system of action targeting a goal or outcome.

Subordinate

Subject to, or under the authority of, a supervisor.

Superior

Higher in station, rank, degree, importance, etc.

Sustainability

The capacity to endure.

Sweatshop

Any working environment considered to be unacceptably difficult or dangerous.

SWOT Analysis

An assessment of an organization’s strengths, weaknesses, opportunities and threats.

Team

A number of persons associated in some joint action.

Team Player

A person who willingly works in cooperation with others.

Technology

The branch of knowledge that deals with the creation and use of technical means and their interrelation with life, society, and the environment.

Termination

The act of coming to an end; often used to mean the end of an employee’s period of employment in a given company.

Time Management

The act or process of planning and exercising conscious control over the amount of time spent on specific activities, especially to increase effectiveness, efficiency or productivity.

Trade Journal

A publication produced with the intention of target marketing to a specific industry or type of trade.

Transparency

Conditions under which facts are fully and accurately disclosed in a timely manner.

Trends

The current general direction of movement for prices or rates. Also, increasingly frequent or widespread behavior.

True Cost

The bottom-line figure when information is collected and presented for each proposed alternative. Can also mean the fully loaded cost of an item.

Unemployment Rate

Percentage of the civilian labor force which is unemployed.

Upper Level Management

A team of individuals at the highest level of organizational management who have the day-to-day responsibilities of managing a business.

Vertical Market

A market which meets the needs of a particular industry.

Web Designer

A person who plans, designs, creates and often maintains websites.

Website

A set of related web pages containing content such as text, images, video, audio, etc.

Workflow

A sequence of connected steps where each step follows the precedent without delay or gap and ends just before the subsequent step may begin.

Working Class

Those employed in lower-tier jobs.