Glossary
Business management glossary
Plain-language definitions for strategy, finance, and operations terms.
Glossary
Business management
7 terms
Finance & budgeting
1 terms
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Planned revenue and operating expenses for day-to-day business over a period. The operating budget serves as the primary financial control tool, guiding spending decisions and enabling performance tracking against plan.
HR & People
1 terms
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The structured process of managing an employee's departure, including knowledge transfer, access revocation, and exit interviews. A thorough offboarding process protects company data, captures valuable feedback, and maintains a positive employer brand.
HR tech
1 terms
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Automated steps to activate new hires, accounts, equipment, and training on day one. A well-designed onboarding workflow accelerates time-to-productivity, improves retention, and creates a positive first impression of the organization.
O
4 terms
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Objectives and Key Results; a framework to set ambitious goals and track measurable outcomes. OKRs are typically set quarterly, pairing a qualitative objective with two to five quantifiable key results that indicate progress.
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How effectively a company turns inputs into outputs with minimal waste. Improving operational efficiency often involves streamlining processes, adopting automation, and eliminating bottlenecks that slow down delivery or inflate costs.
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Day-to-day costs of running a business, such as salaries, rent, and software. Unlike capital expenditures, operating expenses are fully deducted in the period they are incurred and directly affect short-term profitability.
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How roles, responsibilities, and reporting lines are arranged in a company. The chosen structure, whether hierarchical, flat, or matrix, directly affects communication speed, decision-making, and team autonomy.
