Term Definition
Accounting The process of keeping and interpreting financial records
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 A career area in which employees are primarily concerned with accepting deposits, lending funds, and extending credit to bank customers
Business information management An umbrella term covering those careers that provide a bridge between business processes/initiatives and IT (information technology)
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 The ability to generate unique ideas, approaches, and solutions
Enthusiasm Intense interest or excitement
Finance The process of obtaining funds and using them to achieve the goals of the business
Flexibility The ability to adapt to changes as they occur
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 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
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 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 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 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 research A career that involves the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services
Merchandising The process of having the right goods in the right place at the right time in order to make a profit
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
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 A positive belief in your own talents, skills, and objectives
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
5.01 key terms

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