BF10 Objective 3 Vocabulary

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Financial Analysis

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The process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources.

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Human Resources Management

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The process of planning, staffing, leading, and organizing the employees of the business.

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Information Management

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The process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data.

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Marketing

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The process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

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Operations

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The day-to-day activities required for continued business functioning.

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Outsourcing

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The usage of outside organizations or consultants to perform one or more of the primary business activities.

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Production

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The process or activity of producing goods and services.

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Strategic Management

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The process of planning, controlling, and organizing an organization or department.

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Human Resources

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People who work to produce goods or services

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Management Function

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Groups of activities related to management: planning, organizing, staffing, directing, and controlling.