Business Glossary

Below are a few useful terms and definitions for people interested in business.

Accounting

An accountant is someone who manages money either for an individual or for a company or business. The exact work of the accountant depends on who they are working for, and the finances of that person. They usually deal with taxes, financial records, and the issuing of financial reports. In order to become an accountant, you will usually have a degree in accounting and finance.

Advertising

Advertising is like marketing. It is advertising your company, product, or service to consumers who could potentially give them business. There are many ways advertising can be done.

Business Administration/Management

A Business Administration/Management degree will prepare you for the work of being a manager in a business. Someone with a degree like this could find work in lots of businesses. They have the skills to rise up the ranks of the business which they work in, and may end up very high in the company.

Branding

Branding your business is making a name for yourself so consumers can distinguish that business from others. When they see one of a business' products, they automatically know who manufactured it. There are many ways branding happens.

Commerce

Commerce is the system that includes economic, social, political, cultural, legal, and technological systems that makes up an environment for business.

Economics

Economics is the study of the transfer of wealth and the production and consumption of goods. An economist would work for their company and would help with the deciding if it was a good time to do whatever it is the company wanted to do.

Finance

Finance is the management of large amounts of money. Most people who work in finance work either in the government or in very large companies. Finance is the study of how money is managed, and is the process of getting the funds you or your company needs. The three branches of finance are: personal finance, public finance, and corporate finance.

Investment

An investment is money put into a company or something else and the investor is hoping his money or stock will grow over time. Companies and businesses use the money invested to grow their businesses.

Marketing/Marketing Management

Marketing management is focuses on developing and using marketing techniques for whatever reason. Marketing/Marketing Management is a degree achieved in college in order to have this skill, and in order to be a marketing manager.

Manufacturing

Manufacturing is the process where products are produced. When a company is producing and selling a product, is has to be manufactured, usually in large numbers with the aid of a factory. This is manufacturing.

Marketing Strategy

A marketing strategy is a strategy implemented to market either a company, or whatever they are selling. There are many different marketing strategies, and coming up with one is usually up to marketing management.

Investment

An investment is money put into a company or something else and the investor is hoping his money or stock will grow over time. Companies and businesses use the money invested to grow their businesses.