Business Management Glossary
Business Management Glossary
20 terms
Business management, also known as BA, is a field related to the ins-and-outs of handling and running a business. This glossary is meant for beginners in the BA field who might want to learn a few usual words about the topic.
- account reconciliation
- The act of confirming that the balance in one's checkbook matches the corresponding bank statement.
- accounting
- The measurement, processing, and communication of financial information about economic entities such as businesses and corporations.
- amortize
- Reduce or pay off a debt with regular payments.
- asset
- An item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
- bankruptcy
- A legal proceeding involving a person or business that is unable to repay outstanding debts.
- bargaining power
- The relative ability of parties in an argumentative situation to exert influence over each other in order to achieve favorable terms in an agreement.
- business
- An organization that produces income by selling goods or services.
- commerce
- A set of activities, including, but not limited to, trade, auxiliary services or aids to trade, communication and marketing, logistics, finance, banking, insurance and legal services related to trade.
- corporation
- A business structure that can be for-profit or non-profit.
- credit
- The deduction of a payment made by a debtor from an amount due.
- franchise
- A system in which entrepreneurs purchase the rights to open and run a business from a larger corporation.
- free cash flow
- The amount of cash that a company has left over after it has paid all of its expenses, including investments.
- human capital
- A concept used by economists to designate personal attributes considered useful in the production process.
- legal person
- A business that can do the things a human person is usually able to do in law.
- limited liability
- A legal status in which a person's financial liability is limited to a fixed amount.
- parent company
- A company that owns enough voting stock in another firm to control management and operations, by influencing or electing its board of direction.
- regulatory agency
- A government authority that is responsible for exercising autonomous jurisdiction over some area of human activity, in a licensing and regulating capacity.
- shareholder
- An individual or legal entity that is registered by a corporation as the legal owner of shares of its shares capital.
- sole proprietorship
- A type of enterprise owned and run by only one person, and in which there's no legal distinction between the business entity and the owner.
- trade union
- An organization of workers whose purpose is to maintain or improve the conditions of their employment.