B.M. 1 Vocab 1.01

Understand planning and organizing as a
function of management.

1.01 Discuss employment opportunities in business management and
administration.

Accounting

•Accounting: The process of
keeping and interpreting
financial records

Administrative Services

•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

Banking Services

•Banking services: A career
area in which employees are
primarily concerned with
accepting deposits, lending
funds, and extending credit
to bank customers

Business Information Management

•Business information
management: An umbrella
term covering those careers
that provide a bridge
between business processes
or initiatives and IT
(information technology)

Corporate Finance

•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

Creativity

•Creativity: The ability to
generate unique ideas,
approaches, and solutions

Enthusiasm

•Enthusiasm: Intense interest
or excitement

Finance

•Finance: The process of
obtaining funds and using
them to achieve the goals of
the business; in business, the
function that involves all
money and money
management matters

Flexibility

•Flexibility: The ability to
adapt to changes as they
occur; adaptability

General Management

•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

Human Resource Management

•Human resource
management: A career area
in which employees focus on
staffing activities, including
planning, recruitment,
selection, orientation,
training, performance
appraisal, compensation, and
safety of employees

Insurance

•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)

Marketing

•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 Communications

•Marketing communications: A
career area in which
employees focus on
marketing activities that
inform, remind, or persuade
the targeted audience of
ideas, experiences,
goods/services, or images

Marketing Management

•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

Merchandising

•Merchandising: The process
of having the right goods in
the right place at the right
time in order to make a profit

Marketing Research

•Marketing research: A career
that involves the systematic
gathering, recording, and
analyzing of data about
problems relating to the
marketing of goods and
services

Operations Management

•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 or services

Securities and Investments Industry

•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

Self-Confidence

•Self-confidence: A positive
belief in your own talents,
skills, and objectives

Selling

•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

Trustworthiness

•Reliability; the quality of
deserving others’ confidence