3.02 Key Terms - Business Essentials

Equipment and supplies used by businesses in their operation.

Private information that belongs to an organization and cannot be released to the public.

undisclosed information within a particular buisness or industry

Supervisors who work directly with the employees who carry out the business’s routine work.

fulfilling the requirments of the law

human resources management activity that involves recruiting, interviewing, hiring and dealing with changes for company

An integrated technology that assists with an organization’s information management needs

The ability to see the “big picture” and think about how things will work together.

long-range planning (three to five years) for the company as a whole

Knowledge, facts, or data presented in a useful form.

Short-range planning (one year) of specfic actions the buisness will take

People who work to produce goods or services.

The management function of setting up the way the business’s work will be done.

The management function of deciding what will be done and how it will be accomplished.

coverting facts and figures into useful information

All managers who are responsible for the operation of the company or a business unit.

Groups of activities related to management (i.e., planning, organizing, staffing, directing, and controlling).

The management function of providing guidance to workers and work projects.

The management function that monitors the work effort.

The ability to communicate, interact, and build relationships with others.

The process of accessing, processing, maintaining, evaluating, and facts, or data for the purpose of assisting bus

Steps that an individual takes to improve skills or traits that are needed to excel in her/his career/profession.

Managers who report to top-level management and who have supervisors who report to them

Advantages or payments employees receive in addition to their wages

ability to understand the specialized aspects of jobs