Business
Someone who provides startup money to a new business
What is Angel Investor?
Seeking out and attracting qualified potential employees
What is recruiting?
Fulfilling the requirements of the law
What is compliance?
Monetary reward a business owner receives for taking the risk involved in investing in a business
Profit
Converting facts and figures into useful information
What is data processing?
The arrangement by which businesses and individuals can purchase now and pay later
Credit
Acquiring assistance from outside organizations/consultants to accomplish business objectives or perform primary business activities
What is outsourcing?
Undisclosed information within a particular business or industry
What is a trade secret?
Ensuring the degree of excellence of a good or service
Quality Control
Human resources management tasks that must be performed when a new employee joins the company (e.g., orientation and paperwork)
What are onboarding activities?
Business or organization whose intent is to make enough money to support its mission
Discussions with employees who are leaving that are designed to gain feedback for the business
What is exit interview?
Process by which an organization’s accounts and records are verified
What is an audit?
Sales or gross income
What is revenue?
The process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data for the purpose of assisting business decision-making
What is information management?
Two individual businesses that combine to form one organization
What is merger?
A significant change to a business’s structure or operations (e.g., merger, acquisition, downsizing)
What is organizational restructuring?
An integrated technology that assists with an organization’s information management needs
What is MIS (management information system)?
The official statement of job duties an employee must perform
What is job description?
The rapid and unimpeded flow of capital, labor, and ideas across national borders
What is globalization?
Invested money used for new business opportunities
The process of planning, staffing, leading, and organizing the employees of the business
What is human resource management?
An organization’s ability to function during and after a disaster
The process of planning, controlling, and organizing an organization or department
What is strategic management?
A formal assessment of a worker’s job performance by his/her supervisor that lets the worker know how s/he is doing on the job
What is a performance review