Glossary

Business management glossary

Plain-language definitions for strategy, finance, and operations terms.

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Glossary

Business management

13 terms
Finance & budgeting 1 terms
  • Scenario budgeting
    Planning multiple budget versions based on different assumptions to stay agile. Scenario budgets prepare the organization for upside and downside cases, enabling faster pivots when market conditions shift.
HR tech 2 terms
  • Succession planning
    Process and tooling to identify and prepare successors for critical roles. Succession planning reduces organizational risk by ensuring leadership continuity and creating development pathways for high-potential employees.
  • Scheduling system
    Software to create, publish, and adjust staff schedules while managing availability and coverage. Scheduling systems reduce manual planning effort, minimize understaffing, and give employees visibility into their upcoming shifts.
S 9 terms
  • Strategic objective
    A measurable long-term goal that aligns teams around the company's direction. Strategic objectives are typically set for a one- to five-year horizon and cascade into departmental targets, OKRs, or KPIs.
  • Scenario planning
    Evaluating multiple possible futures to prepare decisions and contingency plans. By modeling best-case, worst-case, and base-case scenarios, organizations can respond faster when conditions change unexpectedly.
  • SII (Spain)
    Spain's Immediate Supply of Information system for near-real-time VAT ledger reporting to AEAT. It is not a clearance platform but requires submitting issued and received invoice data within days, running alongside TicketBAI in the Basque region and FACe for B2G invoices.
  • Span of control
    The number of direct reports a manager oversees, affecting communication and efficiency. A wider span of control reduces management layers but requires more autonomous and experienced team members to function well.
  • Standard operating procedure (SOP)
    A documented, repeatable set of steps to execute a process consistently. SOPs reduce errors, speed up onboarding, and ensure quality and compliance by making best practices explicit and auditable.
  • Service level agreement (SLA)
    A contract that defines expected service standards such as response or resolution times. SLAs set measurable targets, outline penalties for non-compliance, and create shared accountability between service providers and their customers.
  • Supply chain management
    Coordinating the flow of materials, information, and finances from suppliers to customers. Effective supply chain management balances cost, speed, and resilience to minimize disruptions and maintain customer satisfaction.
  • Stakeholder
    Any individual or group with an interest in, or influence over, a company's decisions and outcomes. Stakeholders include employees, customers, investors, regulators, and suppliers, each with different expectations that must be balanced.
  • SDI (Italy)
    Sistema di Interscambio; Italy's government clearance platform for mandatory B2B and B2G e-invoicing. Every invoice issued in Italy must pass through the SDI for validation before it is legally delivered to the recipient.
Systems 1 terms
  • SaaS
    Software as a Service; cloud-delivered software accessed via subscription rather than installed on-premise. SaaS products are maintained and updated by the vendor, reducing IT overhead and enabling rapid deployment across distributed teams.
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