Léonie Beauséjour - Glossary

20 Business Management terms

I have been in the business management program at Lionel-Groulx for a year now. This program allows me to become familiar with the business and then be able to start or take over a business. We are learning all areas of entrepreneurship such as accounting, marketing, employee management, the rights of a company and much more.

accounting
noun
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analysing and reporting these transactions to oversight agencies, regulators and tax collection entities. https://www.merriam-webster.com/dictionary/accounting
Example: What accounting can you give for your bizarre actions on the night in question?
fr: comptabilité
business
noun
A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. The term "business" also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit. https://www.merriam-webster.com/dictionary/business
Example: The business has been a success and with 14 students, including Markithia Hayne’s son.
fr: commerce
communication
noun
Communication is simply the act of transferring information from one place, person or group to another. Every communication involves (at least) one sender, a message and a recipient. These include our emotions, the cultural situation, the medium used to communicate, and even our location. https://www.skillsyouneed.com/ips/what-is-communication.html
Example: Communication between children in the class was not prohibited but was afforded time slots.
fr: communication
customer
noun
A customer is an individual or business that purchases another company's goods or services. All businesses compete with other companies to attract customers, either by aggressively advertising their products, by lowering prices to expand their customer bases or developing unique products and experiences that customers love.
Example: She is one of our best customers.
fr: client
employee
noun
An employee is an individual who was hired by an employer to do a specific job. The employee is hired by the employer after an application and interview process results in his or her selection as an employee. This selection occurs after the applicant is found by the employer to be the most qualified of their applicants to do the job for which they are hiring. https://www.thebalancecareers.com/what-is-an-employee-1918111
Example: A good boss listens to his employees.
fr: employer
entrepreneurship
noun
One who organizes, manages, and assumes the risks of a business or enterprise. https://www.merriam-webster.com/dictionary/entrepreneurship#examples
Example: He found he'd had enough of entrepreneurship and gave his interest in the business to his partner.
fr: entrepreneuriat
event
noun
Something that happens or is regarded as happening; an occurrence, especially one of some importance. the outcome, issue, or result of anything. https://www.dictionary.com/browse/event
Example: The article recounted the events of the past year.
fr: évènement
finance
noun
Finance is the money or other liquid resources of a government, business, group, or individual. https://www.merriam-webster.com/dictionary/finance
Example: She's taking a course on personal finance.
fr: finance
law
noun
Law is the system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties. https://www.google.com/search?q=law+definition&source=lmns&bih=754&biw=1536&hl=fr&sa=X&ved=2ahUKEwjDsYSzn_buAhVscTABHeogDBQQ_AUoAHoECAEQAA
Example: It is not desirable to cultivate a respect for the law, so much as for the right.
fr: droit
management
noun
Management is a process of planning, decision making, organizing, leading, motivation and controlling the human resources, financial, physical, and information resources of an organization to reach its goals efficiently and effectively. https://simple.wikipedia.org/wiki/Management
Example: Business improved under the management of new owners.
fr: gestion
manager
noun
A Manager is a person who manages or is in charge of something. Managers can control departments in companies, or guide the people who work for them. Managers must often make decisions about things. https://simple.wikipedia.org/wiki/Manager
Example: He was promoted to manager last year.
fr: gérant
marketing
noun
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. https://www.ama.org/the-definition-of-marketing-what-is-marketing/
Example: The company will increase its budget for marketing.
fr: marketing
media
noun
Media is the communication outlets or tools used to store and deliver information or data. https://en.wikipedia.org/wiki/Media_(communication)
Example: All forms of online media are exploding in a similar fashion.
fr: média
merchandising
noun
Merchandising is the promotion of goods and/or services that are available for retail sale. https://www.investopedia.com/terms/m/merchandising.asp
Example: She is the company's director of merchandising.
fr: marchandisage
negotiation
noun
A negotiation is a strategic discussion that resolves an issue in a way that both parties find acceptable. In a negotiation, each party tries to persuade the other to agree with his or her point of view. By negotiating, all involved parties try to avoid arguing but agree to reach some form of compromise. https://www.investopedia.com/terms/n/negotiation.asp
Example: We need a negotiation between the townspeople and mayor over the site of the new library.
fr: négociation
partnership
noun
A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. https://www.investopedia.com/terms/p/partnership.asp
Example: Scientists working in partnership with each other.
fr: partenariat
project
noun
A project is defined as an effort to create or modify a specific product or service. Projects are temporary work efforts with a clear beginning and end. Projects can be completely contained within a specific unit or department, or include other organizations and vendors. https://www.aits.uillinois.edu/services/professional_services/pmo/project_management_toolkit/project_definition_recommendations/
Example: He projected next year's costs as being slightly higher than this year's.
fr: projet
software
noun
Software is a collection of instructions and data that tell the computer how to work. This is in contrast to physical hardware, from which the system is built and actually performs the work. In computer science and software engineering, computer software is all information processed by computer systems, including programs and data. https://en.wikipedia.org/wiki/Software
Example: Television programs, music, and movies are now called software, by the way.
fr: logiciel
student
noun
A person formally engaged in learning, especially one enrolled in a school or college https://www.dictionary.com/browse/student
Example: She is a student at Georgetown University.
fr: étudiant
team
noun
A team is defined as a group of people who perform interdependent tasks to work toward accomplishing a common mission or specific objective. https://asq.org/quality-resources/teams
Example: He is the best player on his team.
fr: équipe