5.01 Key Terms Icharia Macharia

Term Definition
Accounting: The process of keeping and interpreting financial recordsAccounting
Administrative services: A career area in which employees facilitate business operations through a variety of administrative and clerical duties, including information and communication management, data processing and collection, and project tracking. Administrative services
Banking services: A career area in which employees are primarily concerned with accepting deposits, lending funds, and extending credit to bank customers. Banking services:
Business information management: An umbrella term covering those careers that provide a bridge between business processes/initiatives and IT (information technology) . Business information management
Corporate finance: A function in a company that manages policy and strategy for (and the implementation of) capital structure, budgeting, acquisition and investment, financial modeling and planning, funding, dividends, and taxation. Corporate finance
Creativity: The ability to generate unique ideas, approaches, and solutionsCreativity
Enthusiasm: Intense interest or excitement.Enthusiasm
Finance: The process of obtaining funds and using them to achieve the goals of the business. Finance
Flexibility: The ability to adapt to changes as they occur.Flexibility
General management: A career area in which employees focus on planning, organizing, directing, and evaluating part or all of a business organization through the allocation and use of financial, human, and material resources. General management
Human resource management: A career area in which employees focus on the staffing activities that involve planning, recruitment, selection, orientation, training, performance appraisal, compensation, and safety of employees. Human resource management
Insurance: A contractual agreement in which one company (insurer) will pay for specified losses incurred by the other company (insured) in return for installment payments (premium). Insurance
Marketing: An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relations in ways that benefit the organization and its stakeholders. Marketing
Marketing communications: A career area in which employees focus on marketing activities that inform, remind, and/or persuade the targeted audience of ideas, experiences, goods/services, and/or images. Marketing communications
Marketing management: A career area in which employees focus on all marketing functions, including channel management, marketing-information management, pricing, product/service management, promotion, and selling. Marketing management
Marketing research: A career that involves the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services. Marketing research
Merchandising: The process of having the right goods in the right place at the right time in order to make a profit. Merchandising
Operations management: A career area in which employees focus on planning, organizing, coordinating, and controlling the resources needed to produce/provide a business’s goods and/or services. Operations management
Securities and investments industry: The total of businesses consisting of brokerage firms, investment banks, and stock exchanges, all of which support the flow of funds from investors to companies and institutions. Securities and investments industry
Self-confidence: A positive belief in your own talents, skills, and objectives. Self-confidence
Selling: A marketing function that involves determining client needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities. Selling
Trustworthiness: Reliability; the quality of deserving others’ confidence.Trustworthiness

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