Business Management II Vocabulary G-L Flashcards
Production projection graph
GANTT
Breaks people into groups based on location
Geographic segmentation
The use of body movements to communicate
Gesture
Globalization
Globalization
The end result a person or business intends to achieve, do, reach, or accomplish sometime in the future
Goal
Tangible items produced, sold, and consumed that have a monetary value
Goods
The market value of goods and services produced using labor in a home country in a given year
Gross Domestic Product (GDP)
The amount of wages or salary earned by an employee during a pay period before deductions are subtracted
Gross Pay
Involves a panel of interviewers to see how the applicant interacts
Group or Committee interview
The sender’s return address followed by the date at the top of a business letter
Heading
A type of insurance that covers some or all of the medical expenses incurred by the insured individual
Health Insurance
A visual representation showing each component of an organization and the relationship between components
Hierarchical chart
A ranking of individuals where the higher level means greater authority, importance, and influence.
Hierarchy
Combines property and liability insurance into one policy to protect a home from damage.
Homeowner’s Insurance
A horizontal structure provides employees with the tools and skills needed. Cross function (from department to department) communication and creative thinking are encouraged.
Horizontal Management
Ideal talent or skills to be possessed for the benefit of an organization
Human Capital
A necessary department in all organizations that assist in training, hiring, and defending employees
Human Resources (HR)
To practice or include
Implementing
A warranty imposed by law but not stated orally or in writing and requires certain standards to be met.
Implied Warranty
A goal to improve a specific agenda
Improvement plan
The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as profit from financial investments.
Income
A document reporting a company’s revenue and expenses for a particular period of time; also known as a Profit or Loss Statement
Income statement
A general increase in prices across an economy; rise in the cost of goods and services over time
Inflation
To communicate information or knowledge to somebody
Inform - To communicate information or knowledge to somebody
Self-taught in a non-structured setting
Informal education
The social structure within an organization characterized by dynamic and often not-well defined relationships, networks, policies, and procedures
Informal organization
To teach somebody a subject or how to do something
Instruct
An arrangement in which an organization (company or governmental agency) receives payment of a premium in exchange for a guarantee of compensation for identified events
Insurance
Assets which lack physical substance and are not able to be touched
Intangible
Communicate the objectives of the organization to the staff, and motivate the workforce in order to make sure they accomplish their tasks.
Integrating
Money the bank pays you for leaving it in your savings account
Money the bank pays you for leaving it in your savings account
An individual who is applying for a position within an organization
Internal candidate
The market within the same company
Internal markets
Good and services being distributed between countries
International Trade
Communication between offices/departments within the same company
Interoffice
Allocating money through a financial product or other items of value with an expectation of future benefit.
Investing
A work role with a specific organization
Job
Written statements listing the requirements of a particular job and the skills needed to fulfill those requirements often detailing specific duties and responsibilities
Job descriptions
Refusal to interfere in other people’s affairs, or the practice of letting people do as they wish; let it be or hands-off (the term is French for let it be or hands-off)
Laissez-faire style
Organizational arrangements include individuals of different departments and groups, on the same organizational level and involve coordination and consultation
Lateral
Pursuing expectations through positive engagement and initiative
Leadership
Influencing people to accomplish the goals of a business
Leading
A financial institution that lends money
Lender
Debts that a business owes
Liabilities
A contract between an insurer and policyholder specifying a sum to be paid to a beneficiary upon the insured’s death
Life Insurance
Simple organizational structure in which each person reports to one supervisor
Line Organization
Assets that can be transferred into cash
Liquidity
Specified as more than one year
Long-term goals
