1-1 Business U Glossary
Mission
Company's purpose and reason for existence.
Information Management
Involves collecting, organizing, securing data for informed decisions.
Vision
Aspirational view of the future if mission is accomplished.
Marketing
Creation, communication, and delivery of products and services.
Operations
Daily management of inputs, outputs, manufacturing, and logistics.
Business
For-profit or non-profit entity involved in commerce.
Return on Investment (ROI)
Gain or loss on investment compared to money invested.
Finance
Manages assets, liabilities, cash flow, and financial analysis.
Human Resources
Manages people assets, recruitment, training, and evaluation.
Return on Equity (ROE)
Net income divided by total shareholder's equity.
Strategy
Plan of action to achieve specific goals.
Management
Plans, organizes, leads, and controls to achieve goals.
Accounting
Records and reports financial transactions of an organization.
Tactic
Specific action supporting a strategy to achieve goals.
