Business, Marketing, Finance Vocabulary 

Transferrable Skills: help an individual perform in the work place or gain success in a career; foundation skills

Market Research: gathering and analyzing information about a business

Debt Financing: borrowing money that must be re-paid for use in the business

Collateral: an asset pledged that will be claimed by the lender if the loan is not repaid

Venture Capital: money invested in a business by investors who from partnerships or groups to pool investors

Top Management: consists of a company's Board of directors, president, and other high ranking managers

Middle Management: Consists of a company's division managers and department heads

Staffing: process of recruiting, hiring, training, evaluating, and compensating employees

Operational Plans: Designed to reach day to day goals

Chain of Command: The authority structure in a company form the highest to lowest levels

Negotiation: When individuals involved in a conflict come together to discuss a compromise

Mediation: A process in which a neutral person meets with each side of a negotiation in an attempt to find a solution that both sides will accept

Critical Thinking Skills: analyze a situation, interpret information, and make a reasonable decision

Collaboration Skills: Skills that enable individuals to work with others to achieve a command goal

Conflict Resolution Skills: Skills required to resolve a situation that could lead to hostile behavior such as shouting or fighting

Commercialization: Introduction stage of a new product

Product Life Cycle: series of stages of a product goes through from its beginning to the end

Division of Labor: Specialization of individuals who perform specific tasks

Sourcing: Finding suppliers of materials needed for production of a product

Mass Production: Manufacturing of goods in large quantities using standard techniques