ITBP (2012)

Ergonomics

The study of designing and arranging equipment and accessories in a workspace to maximize productivity.

History of Ergonomics

Became a distinct discipline during World War II.

Time Management

Prioritizing daily tasks for maximum efficiency.

Common Time Wasters

Disorganization, excessive socializing, and ineffective communication.

Business

An entity where entrepreneurs use resources to produce goods/services.

Free Market System

An economic system where business is conducted freely and independently.

Ethics

The study of moral principles guiding behavior in business and life.

Utilitarianism

The belief in maximizing the greatest good for the greatest number.

Justice

Giving people what is rightfully due to them.

Relativism

Ethics are not absolute but vary by situation.

Corporate Social Responsibility (CSR)

Businesses acting in the best interests of society.

Corporate Governance

The system of rules and practices governing a company.

Conflict of Interest

A situation where personal gain interferes with professional duties.

Bribery

Offering money or gifts to influence decisions.

Whistleblower

Someone who exposes unethical or illegal business practices.

Minimum Wage

The lowest legal wage set by the government.

Living Wage

A salary sufficient to meet basic living expenses.

Casual Employment

Work that is irregular and lacks benefits.

Just Wage

A fair salary that considers the cost of living.

Probationary Employment

A trial work period, usually lasting up to six months.

Regular Employment

Long-term employment with benefits.

At-Will Employment

Employees can be fired at any time without cause (except in illegal situations).

Labor Unions

Groups advocating for workers’ rights.

Collective Bargaining

Negotiation between employers and employees (via unions).

Strike

A work stoppage to demand better conditions.

Job Discrimination

Unfair treatment based on non-job-related factors.

Equal Pay Act

Requires men and women to receive equal pay for equal work.

Fair Labor Standards Act (FLSA)

Regulates wages, overtime pay, and child labor.

Workplace Harassment

Unwanted conduct affecting work conditions.

Occupational Safety and Health Administration (OSHA)

Regulates workplace safety.

Workers’ Compensation

Benefits for employees injured on the job.

Family and Medical Leave Act (FMLA)

Allows eligible employees to take up to 12 weeks of unpaid leave for medical/family reasons.

Intellectual Property

Legal protection for creative works and inventions.

Copyright

Protects original literary and artistic works.

Patent

Protects inventions for a set period.

Trademark

Protects business names, logos, and slogans.

Reverse Engineering

Analyzing and copying competitors’ products.

Price Fixing

Companies illegally agreeing to set prices at a certain level.

Monopoly

A single company dominating a market.

Oligopoly

A market controlled by a small group of powerful firms.

Resource Depletion

Overusing finite natural resources.

Greenwashing

Misleading consumers into believing a company is environmentally friendly.

Corporate Espionage

The act of spying to obtain business secrets.

Tax Evasion

Illegally avoiding taxes.

Tax Avoidance

Legally reducing tax liability.

Communication

The most important factor in workplace relationships.

Verbal Communication

Spoken exchange of messages.

Non-Verbal Communication

Body language, gestures, facial expressions.

Feedback

Responses that confirm or clarify a message.

Memo (Memorandum)

Internal written communication within a company.

Business Letter

A formal written message sent outside the company.

Email Etiquette

Keep it concise, professional, and grammatically correct.

Chain of Command

The formal hierarchy within an organization.

Position Power

Authority given to a role in an organization.

Leadership Styles

Autocratic, democratic, laissez-faire.

Organizational Chart

A diagram showing a company’s structure.

Agenda

A list of topics for a meeting.

Minutes

A written record of what was discussed in a meeting.

Workflow

The movement of information and tasks in an organization.

Tickler File

A date-based reminder system.

Petty Cash Fund

Small funds for minor expenses.

Balance Sheet

A financial statement listing a company’s assets and liabilities.

Accounts Payable

Money a company owes to suppliers.

Accounts Receivable

Money owed to a company by customers.

Break-Even Point

When total revenue equals total costs.

Return on Investment (ROI)

Measures profitability.

Profit Margin

Percentage of revenue that becomes profit.

Supply and Demand

Economic principle affecting pricing.

Inflation

Increase in prices over time.

Deflation

Decrease in prices.

Interest Rate

Percentage charged on borrowed money.

Compound Interest

Interest earned on both principal and accumulated interest.

401(k) Plan

A retirement savings plan.

Credit Score

A number that measures creditworthiness.

Customer Service

The support provided to customers before, during, and after purchase.

Public Relations (PR)

Managing a company’s image.

Branding

Establishing a unique identity for a business.

Target Market

A specific group of potential customers.

Market Segmentation

Dividing consumers into groups based on demographics.

Advertising

Paid promotion of a product or service.

Sales Promotion

Short-term incentives to boost sales.

Personal Selling

Direct interaction between salesperson and customer.

Cybersecurity

Protecting business data from cyber threats.

Cloud Computing

Storing and accessing data over the internet.

E-Commerce

Buying and selling online.

Big Data

Large volumes of data analyzed for business decisions.

Artificial Intelligence (AI)

Machines simulating human intelligence.

Telecommuting

Working remotely using technology.

Networking

Connecting multiple computers and devices.

Firewall

A security system preventing unauthorized access.

Phishing

Fraudulent attempts to obtain sensitive information.

Professionalism

Conducting oneself with responsibility, integrity, and respect.

Workplace Diversity

Inclusion of different cultural backgrounds.

Resume

A summary of a person’s work experience and skills.

Cover Letter

A formal introduction accompanying a resume.

Job Interview Etiquette

Arrive on time, dress appropriately, and be prepared.

Post-Interview Follow-Up

Send a thank-you letter/email.

Career Advancement

Developing skills for job promotions.

Networking for Career Growth

Building professional relationships.

Professional Development

Continuing education and training in a career field.