Glossary

Business management glossary

Plain-language definitions for strategy, finance, and operations terms.

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Glossary

Business management

77 terms
A 2 terms
AI & automation 1 terms
  • AI agent
    A software agent that uses artificial intelligence to automate tasks, respond to users, and make recommendations based on context and data.
B 5 terms
  • Business model
    The way a company creates value, delivers it to customers, and captures revenue and profit.
  • Business plan
    A structured document outlining a company's goals, strategy, market, financials, and execution roadmap.
  • Break-even point
    The sales level where total revenue equals total costs, resulting in zero profit or loss.
  • Burn rate
    The pace at which a company uses cash, typically measured monthly for startups.
  • Budget variance
    The difference between planned and actual figures, used to analyze performance.
C 9 terms
D 1 terms
  • Delegation
    Assigning authority and responsibility for tasks while retaining accountability for outcomes.
E 1 terms
  • Escalation path
    A predefined route for raising issues to higher authority when they cannot be resolved at the current level.
F 1 terms
  • Forecasting
    Estimating future performance using historical data, assumptions, and scenarios.
Finance & budgeting 10 terms
  • Budget
    A financial plan that estimates expected revenue and spending for a given period.
  • Expense management
    Workflow to submit, approve, and reimburse business expenses with policy controls.
  • Budget variance analysis
    Review of differences between budgeted and actuals to understand drivers and corrective actions.
  • Rolling forecast
    Continuously updated financial projection that extends the plan horizon each period.
  • Zero-based budgeting
    Budgeting approach where every expense must be justified from zero each cycle.
  • Top-down budgeting
    Leadership sets targets at the corporate level and cascades budgets to teams.
  • Bottom-up budgeting
    Teams build detailed budgets that are rolled up to form the company plan.
  • Capital budgeting
    Process to evaluate and prioritize long-term investments like equipment or facilities.
  • Operating budget
    Planned revenue and operating expenses for day-to-day business over a period.
  • Scenario budgeting
    Planning multiple budget versions based on different assumptions to stay agile.
G 2 terms
  • Gross margin
    Revenue minus cost of goods sold, showing how much value remains to fund operations.
  • Governance
    The structures, policies, and processes that ensure accountability and ethical management.
HR & People 1 terms
  • HRBP
    Human Resources Business Partner; HR role embedded in business units to align people strategy with company goals.
HR tech 17 terms
  • HCM platform
    Human Capital Management suite covering core HR, payroll, talent, and workforce tools.
  • HRIS
    Human Resources Information System; system of record for employee data, employment status, and organizational structure.
  • ATS
    Applicant Tracking System; software to manage job postings, candidates, interviews, and hiring pipelines.
  • Performance management system
    Tools for setting goals, running reviews, calibrating ratings, and linking performance to rewards.
  • LMS
    Learning Management System; platform to deliver, track, and certify training programs.
  • Payroll automation
    Software-driven calculation and disbursement of wages, taxes, and deductions with minimal manual intervention.
  • People analytics
    Data analysis of workforce metrics to improve hiring, retention, productivity, and equity.
  • Succession planning
    Process and tooling to identify and prepare successors for critical roles.
  • Compensation benchmarking
    Comparing pay bands to market data to set competitive and equitable salaries.
  • Onboarding workflow
    Automated steps to activate new hires, accounts, equipment, and training on day one.
  • Employee engagement platform
    Suite for surveys, feedback, recognition, and communications that drive engagement.
  • Pulse survey
    Short, recurring survey to monitor employee sentiment and engagement trends.
  • 360 feedback
    Feedback process that gathers input from peers, managers, and reports for a holistic view.
  • Time and attendance system
    Tooling to capture hours worked, shifts, and absences for payroll and compliance.
  • Scheduling system
    Software to create, publish, and adjust staff schedules while managing availability and coverage.
  • Benefits administration
    Systems and processes to manage enrollment, eligibility, and costs for employee benefits.
  • Leave management system
    Software to request, approve, and track paid time off and leaves of absence.
I 1 terms
  • Inventory turnover
    How often inventory is sold and replaced over a period, indicating demand and efficiency.
K 2 terms
  • KPI
    Key Performance Indicator; a metric used to track performance against targets.
  • Key account management
    A focused approach to grow and retain a company's most valuable customers.
L 2 terms
  • Lead time
    The time between starting a process and completing it, often tracked in production or procurement.
  • Lean management
    A methodology focused on maximizing value while minimizing waste in processes.
N 2 terms
O 4 terms
P 2 terms
  • Procurement
    The process of sourcing, negotiating, and purchasing goods or services for the business.
  • Project charter
    A short document that authorizes a project, defining objectives, scope, stakeholders, and authority.
R 4 terms
  • Runway
    The number of months a company can operate at its current burn rate before cash runs out.
  • Run rate
    An annualized view of current performance, projecting recent results over a full year.
  • Risk management
    Identifying, assessing, and mitigating threats to objectives across finance, operations, and compliance.
  • RACI matrix
    A responsibility grid that clarifies who is Responsible, Accountable, Consulted, and Informed for tasks.
S 6 terms
Systems 2 terms
  • ERP
    Enterprise Resource Planning; integrated software that unifies finance, HR, operations, and supply chain data in one system.
  • CRM
    Customer Relationship Management; software for tracking leads, deals, and customer interactions across the lifecycle.
V 1 terms
  • Value proposition
    The clear statement of why a customer should choose a product or service over alternatives.
W 1 terms
  • Working capital
    Current assets minus current liabilities; a measure of short-term liquidity.
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