Business Glossary Unit 2

Chain of Command

An organizational structure that shows who each person reports to.

Company Culture

The shared beliefs, values, goals, attitudes, and behaviors of a company’s employees; a company culture combines employee feelings about their work with how it motivates them to serve the company’s mission.

Company Values

These are what a company believes, its business practices around how teammates treat one another, and how the company treats its customers.

Emotional Intelligence

The ability to care, empathize and understand the needs of others.

Leadership

Inspiring, motivating, influencing, and maximizing the efforts of people towards a common purpose.

Management:

Refers to planning, organizing, staffing, controlling and leading people, processes, and assets in order to achieve a goal or task in the best way possible.

People Skills:

An ability to empathize with people and understand them and their current situation, while also effectively influencing, communicating, and interacting with them.

Problem-Solving Skills

An ability to make good trade-offs with limited resources, as well as to effectively handle difficult and/or complex business challenges.

Procedural Skills:

An ability to quickly learn and perform certain methods, sequences, or procedures in order to accomplish a task.

Staffing:

Recruit, interview, hire, and orient the appropriate people to fill organizational roles.