The supply chain incorporates both the production and distribution of goods. These individuals all stand to profit if the company succeeds or suffer if it fails. Examples of stakeholders include shareholders, employees, owners, customers and vendors. StakeholderĪ stakeholder is anyone who has an interest in a company, goal or project. Shareholders are always stakeholders, but not all stakeholders are shareholders. However, they are not responsible for the company’s debts. Shareholders have a financial interest in the company, as they stand to profit if stock prices go up. ShareholderĪ shareholder is anyone who owns one or more shares in a company. On an income statement, revenue may also be called sales. This includes any deductions available for returned merchandise. ![]() RevenueĪ company’s revenue is its earnings over a certain period. To calculate this performance measurement, you divide the benefit of the investment by the cost. Return on investment, or ROI, is the amount of profit returned on an effort in comparison with the expense. In the R&D department, new technologies, messaging, processes and products are developed and tested. Research and development (R&D) are activities that center around invention, innovation and improvement. This is a measurement of efficiency that helps define the company’s ability to produce a return on investment. ProfitabilityĪ business’s profitability is its ability to yield a certain financial gain in relation to its size and costs. These costs are not associated with product manufacturing or service delivery. Overheadįinancial overhead is the indirect cost associated with running a business, often related to administration, marketing and maintenance. Anything that is not handled in-house is outsourced. A business may outsource from another country or a different company. When a company gets products or services from an outside worker or supplier, it’s outsourcing. If you can choose only one option, calculating the opportunity cost of each can help you determine the best course of action. The opportunity cost is a loss as a result of choosing one action over another. This statement of purpose will guide your actions as you plan for future successes. ObjectiveĪ company or team’s objective outlines a goal that a business, team or individual is trying to achieve. Logistics may also refer to more specific processes related to supply chain management. ![]() Logistics are the processes involved in managing and executing a complex task or project involving many people, materials, timelines and more. Liabilities include mortgages, outstanding loans and accrued expenses. LiabilityĪ liability is a financial debt, risk or obligation. Related: Learn About Being a Brand Manager 4. Branding is a critical part of marketing since it determines how others perceive the company. ![]() BrandingĪ company’s branding includes the name, logo, imagery, colors, typography and language that are used to distinguish it from other businesses. Board members are elected by stockholders. The board of directors is a group of individuals who set the policies that govern a company. Assets might also refer to a grouping of deliverables required by a client or the organization itself. Assets include goods, products, documents, properties and other resources. AssetĪn asset is anything of value that a company possesses. 19 business words to knowīelow is a list of some of the best business words to use when you’re discussing common topics like marketing, finance, production and business management. It’s important to understand the most used business words so you can easily understand industry publications, workplace memos, professional presentations, standup meetings and casual conversations with coworkers. ![]() The stronger your business vocabulary is, the better you will be at communicating important thoughts and concepts to others in your work environment. What are business vocabulary words?īusiness vocabulary words and phrases are terms used to describe events, outcomes, tasks, entities and processes in the workplace. This article provides you with a business vocabulary list with definitions that can help you navigate the corporate jargon used in business environments. Studying some of the most common English business words can also help you understand certain concepts in your professional environment. Business vocabulary enables you to communicate ideas with your industry colleagues.
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