1-1 Glossary Terms

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What is Accounting?

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The process of recording, maintaining, and reporting an organization’s financial transactions and records.

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What is Business?

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A for-profit or non-profit organization involved in commercial, industrial, or professional commerce.

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What does Finance focus on?

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Management of assets, liabilities, equity, cash flow, financial analysis like ROI and ROE, and financial planning for future growth.

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What is Human Resources?

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The people assets who work for an organization and the business function responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees.

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What is Information Management?

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A business function involving people, processes, and systems to collect, organize, store, secure, and make data accessible for informed decisions.

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What is Management?

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Planning, organizing, staffing, controlling, and leading people, processes, and assets to achieve a goal or task effectively.

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What is Marketing?

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The pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for mutual benefit.

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What is a Mission?

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A company's purpose or reason for being; the problem it is solving.

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What are Operations?

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The daily functioning of an organization, managing inputs and outputs, including manufacturing, purchasing, and logistics.

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What is Return on Equity (ROE)?

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A measure of financial performance, calculated as net income divided by total shareholder’s equity.