Business Management Key Terms

Front 1

Stakeholders

Back 1

An individual or a group that has a direct interest in the activities of an organisation.

Front 2

Internal Stakeholders

Back 2

An individual within the business that has a direct interest in the activities of the organisation.

An example of one is an employee.

Front 3

External Stakeholders

Back 3

An individual or group outside of the business that has a direct interest of the activities of the organisation.

An example of one is the government.

Front 4

Vision Statement

Back 4

A statement that outlines the aspirations of the organisation.

Front 5

Mission Statement

Back 5

A global statement that reflects an organisation's reason for being or purpose and the way it will be managed.

Front 6

Objectives

Back 6

The aim that the business is striving to achieve.

Front 7

Public Relations

Back 7

Relationships established with the media to create favorable reports about the business and its products.

Front 8

Sender

Back 8

A person that is providing content to another.

This can be done in many ways such as talking, emails, phone calls and etc.

Front 9

Reciever

Back 9

A person that is getting the content from another person. The receiver decodes the content and will provide feedback.

Front 10

Encoded

Back 10

Concerting the information into a particular form.

Front 11

Decoded

Back 11

The understanding of a message.

Front 12

Transmission

Back 12

The action or process of transmitting something or the state of being transited.

Front 13

One-Way Communication

Back 13

Information is passed by the sender to receiver with no feedback.

Front 14

Two-Way Communication

Back 14

Communication that is open and encourages discussion and feedback.

Front 15

Verbal Communication

Back 15

Use of language (oral or written) to communicate

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Non-Verbal Communication

Back 16

Any form of communication that does not rely on works (spoken or written) to convey a message.

Front 17

Combination Communication

Back 17

The use of multiple types of communications.

Front 18

Formal Channels

Back 18

Messages sent using official channels.

Front 19

Semi-Formal Channels

Back 19

Communication using a formal setting but not controlled by the organisation.

Front 20

Informal Channels

Back 20

Unofficial communication occurring within an organisation such as FaceBook.

Front 21

Grapevine

Back 21

Informal communication channels; often referred to as the 'rumour mill' or 'office gossip'; management has no control over these channels.

Front 22

Downward Communication

Back 22

Someone from a higher standing within a company communicating to somebody with a lower ranking.

Front 23

Upward communication

Back 23

Information that flows from a lower to higher level (eg. intern to boss)

Front 24

Lateral communication

Back 24

Interaction between people of those same level in an organisation

Front 25

Business–to–business communications (B2B)

Back 25

Day to day communications with other businesses (suppliers, business customers, professional advisers, contractors, government departments, wholesalers, retailers

Front 26

Business–to–the–wider–community (B2WC)

Back 26

Business communications with external groups and individuals (customers/clients, lobby groups, media, community in general)

Front 27

Written communication

Back 27

Communication that involves the use of language or actual words (letter, memo, faxes, email, manuals)

Front 28

Business letter

Back 28

A letter from one company to another, or between organisations, customers, clients and other external parties

Front 29

Email

Back 29

An electronic message send to a unique address to businesses, people etc

Front 30

Memo

Back 30

A form of formal communication, a brief not sent within an organisation, usually to employees

Front 31

Faxes

Back 31

An electronically transmitted message in the form of a document usually sent to businesses, which gets printed by the fax machine into a real document

Front 32

Media releases

Back 32

An item of news prepared for an distributed to the media

Front 33

Oral communication

Back 33

Communication that involves the use of language or actual words in a spoken manner such as in meetings or interviews

Front 34

Meetings

Back 34

An assembly of people for the purpose of discussing agenda items for the business and working on them

Front 35

Interviews

Back 35

A person or group of people discussing the prospects of the people on the other side who are requesting a job from the person interviewing them

Front 36

Non–verbal communication

Back 36

Any form of communication that does not rely on words (spoken or written) to convey a message

Front 37

Body language

Back 37

The conscious and unconscious movements and postures by which attitudes and feelings are communicated

Front 38

Personal space

Back 38

The distance that we like to keep from other people

Front 39

Dress

Back 39

Conveying a message with the clothing that you dress yourself in

Front 40

Symbols

Back 40

A memorable image that is related to a business which helps you remember what the business is

Front 41

Barriers to effective communication

Back 41

Anything that interrupts or interferes with effective communication taking place

Front 42

Filtering

Back 42

The deliberate manipulation of a message to make it appear more favourable to the receiver by deleting undesirable pieces of information

Front 43

Selective perception

Back 43

When the receiver sees and hears communications selectively, depending on their needs, motivations, experience, background and other personal characteristic

Front 44

Emotions

Back 44

How a receiver is feeling at the time of receiving a message (will influence how the message will be interpreted)

Front 45

Language

Back 45

The method of human communication, either spoken or written, consisting of the use of words in a structured and conventional way.

Front 46

Incorrect choice of medium

Back 46

Using an inappropriate/irrelevant platform to deliver your message

Front 47

Cultural Differences

Back 47

The differences in between two cultures that inhibits successful communication

Front 48

Physical Environment

Back 48

How welcoming or uninviting the working environment is. Security systems can prevent open communication

Front 49

Technological Breakdown

Back 49

Is a barrier that occurs when technology such as computers, phones or the internet stop working.

Front 50

Interruptions and noise

Back 50

Interruptions and noise may hinder a message being received or passed on workplaces can be very noisy, and it can become difficult to conduct conversations

Front 51

Interpersonal communication

Back 51

Sharing or understanding information between two or more people

Front 52

Organisational communication

Back 52

Use of systems to share information and undertstanding with large groups of people

Front 53

Jargon

Back 53

Special words or expressions used by a profession or group that are difficult for others to understand

Front 54

Ambiguity

Back 54

Phrases that are worded to have multiple meanings.

Front 55

Reducing communication barriers

Back 55

Ways that you are able to prevent any communication barriers from occurring.

Front 56

Use feedback

Back 56

It allows the person who is conveying the message to see if you understand the content that they are providing.

Front 57

Become an active listener

Back 57

Listen to what the other person is saying so you are able to give them feedback.

Front 58

Be sensitive to receiver's values

Back 58

Care about what the receiver's cares and beliefs, don't insult or belittle them.

Front 59

Do not let status interfere

Back 59

If a person is higher ranking then you, do not let them intimidate you from being able to understand the content.

Front 60

Be aware of the content

Back 60

Make sure you understand what the content is.

Front 61

Constrain emotions

Back 61

If you let emotions influence what you're trying to communicate, your message will shift dramatically

Front 62

Watch non–verbal cues

Back 62

Read the body language from the other participant

Front 63

Simplify language

Back 63

Do not use fancy words or other the top phrases as these may confuse the listeners.

Front 64

Use a professional to communicate messages to the public

Back 64

If you're a poor communicator, and you tend to use jargon and pompous language, hire a professional that's expert at communicating with others

Front 65

Business Ethics

Back 65

The proper business policies and practices regarding potentially controversial issues

Front 66

Social responsibility

Back 66

The business has an obligation to act for the benefit of society at large.

Front 67

Ethical responsibility

Back 67

The duty to follow a morally correct path