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BUSINESS OPERATIONS&
BE
| Term | Definition |
|---|---|
| operations | activities and tasks that a company carries out to produce goods or provide services |
| management | the process of planning, organizing, directing, and controlling resources to achieve goals |
| organization | a group of people working together toward a common purpose, structured and coordinated to achieve specific goals |
| hierarchy | a system where people or things are ranked according to levels of importance or authority |
| departments | distinct units or sections within an organization, responsible for specific tasks or functions |
| goals | long-term aims or desired results that an organization strives to achieve |
| objectives | specific, measurable, and time-bound targets that support the achievement of goals |
| strategy | a high-level plan to achieve long-term goals and objectives, outlining how resources will be allocated and actions taken |
| planning | the process of setting goals, determining the actions needed to achieve them, and creating a timeline for completion |
| decision-making | the act of choosing a course of action from various alternatives to achieve a desired outcome |
| policies | formal guidelines and rules that define how an organization operates and makes decisions |
| procedures | step-by-step instructions for performing specific tasks or activities within an organization |
| performance | the level at which a task, process, or employee functions, often measured against set standards or goals |
| efficiency | the ability to achieve a desired result with the least amount of time, effort, and resources |
| productivity | the rate at which goods and services are produced, often measured as output per unit of input |
| leadership | the ability to guide, influence, and inspire others to achieve a common goal |
| delegation | the act of assigning tasks or authority to others in order to accomplish goals |
| coordination | the process of organizing people, resources, and activities to work together effectively and achieve specific objectives |
| resources | assets, such as people, money, materials, or time, that are used to accomplish tasks and achieve goals |
| communication | the exchange of information, ideas, or feelings between individuals or groups, using various methods and channels |
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LexyLessons
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