Human Resources
This form of pay is calculated explicitly by the number of hours an employee works.
What is Hourly?
This term refers to focusing strictly on a few specific tasks to become highly efficient at them.
What is Job Specialization?
This term represents the total amount of money earned strictly from selling a product or service.
What is Revenue?
This specific financial document is used to track and display a business's final profit or loss over time.
What is an Income Statement?
This business practice involves using factual data to make calculated predictions about future trends.
What is Forecasting?
This term describes being paid a fixed total amount on an annual basis rather than by the hour.
What is Salary?
This specific type of word shows an explicit action you can actively see or check to help measure performance.
What is a measurable verb?
This specific commercial term refers to the overall total amount of money that comes into a business before any costs are taken out.
What is Gross?
This financial statement displays exactly how liquid cash moves in and out of a business.
What is a Cash Flow Statement?
The main goal of this company document is to outline why an organization exists and what it wants to achieve.
What is a Mission Statement?
These are the three specific stages of the Employee Life Cycle mentioned in this course.
What are Recruitment, Onboarding, and Retirement?
Unlike preferred skills, these are the must-have abilities an applicant absolutely requires to perform a job.
What are required skills?
This financial term refers to the actual money left over only after all expenses and costs have been paid.
What is Net?
Business necessities like rent, utilities, employee wages, and marketing campaigns fall under this exact expense category.
What are Operating Expenses?
This strategic analysis helps businesses pinpoint exactly what internal and external issues they must fix to satisfy their mission statement.
What is a SWOT Analysis?
Doing this for employees is critical because it directly boosts their workplace motivation and company retention.
What is recognizing or praising them?
These nice-to-have employee abilities are not strictly required but give candidates a competitive edge.
What are preferred skills?
This accounting category represents everything a business physically or legally owns.
What are Assets?
Daily business tasks like handling the Cost of Goods Sold (COGS) and paying staff fall under this type of cash flow activity.
What are Operating Activities?
This 3-letter acronym represents a business framework where companies actively help their communities and protect the environment.
What is CSR (Corporate Social Responsibility)?
This practice addresses workplace disputes early and focuses on establishing fair solutions that protect the business.
What is Conflict Resolution?
For managers, making decisions based strictly on facts and evidence is known as being this.
What is being objective?
This accounting term defines any financial debts or obligations that a business legally owes to others.
What are Liabilities?
This specific statement breaks down three main business elements: what the business owns, what it owes, and what the owner owns.
What is a Balance Sheet?
These principles shift across different international borders because they depend heavily on local cultures, beliefs, and laws.
What are ethical rules?