| A | B |
|---|
| income | the money that a business receives |
| understanding | an effective business leader demonstrates this when they respect the feelings and needs of others |
| start-up budget | used to plan income and expenses from the beginning of a new business or a major business expasion until it becomes profitable |
| operating budget | the financial plan for the day-to-day operations of the business |
| cash budget | an estimate of the money expected to be received and paid out over a specific period of time |
| financial record | the financial performance of a business |
| income statement | a financial statement tat shows revenues, expenses, and net income (profit) or loss for a period of time |
| Small Business Administration | a government agency that provides services and helpful publications to small businesses |
| communication | an effective business leader demonstrates this when they listen, speak, or write effectively |
| confidence | an effective business leader demonstrates this when they are willing to make decisions and take responsibility |
| cooperation | an effective business leader demonstrates this when they work well with others and develop group relationships |
| courage | an effective business leader demonstrates this when they take responsible risks or make unpopular decisions |
| dependability | an effective business leader demonstrates this when they follow through on commitments |
| honesty | an effective business leader demonstrates this when they are ethical in decisions and treatment of others |
| small business | an independent business with fewer than 500 employees |
| balance sheet | a financial statement that lists a business's assets and liabilities |
| business plan | a written description of the business idea and how it will be carried out |
| leadership | the ability to influence individuals, groups, or teams to accomplish important goals |
| human relations | interacting with people |
| formal communication | communication that has been established and approved by the business |
| written communication | communication including notes, letters, memos, reports, bulletin board notices, e-mail, and texting |
| internal communication | communication between managers, employees, and work groups |
| external communication | communication with others outside the business |
| vertical communication | communication that moves up or down between management and employees |
| horizontal communication | communication that moves across the organization at the same level |
| oral communication | words spoken on a person-to-person or person-to-group basis |
| informal communication | common but unofficial ways that information moves in an organization |
| human resources management | all aspects of recruiting, hiring, training, compensating, and evaluating employees |
| job description | a written statement that details the qualifications needed and the duties performed on a job |
| compensation | the amount of money paid to an employee for work performed |
| salary | a fixed amount of money paid to an employee regardles of the number of hours worked |
| wages | payments for labor made on an hourly, daily, or per-unit basis |
| benefits | compensation in forms other than a direct payment to the employee |
| benefits | compensation in forms other than a direct payment to the employee |
| business budget | a detailed plan for meeting the financial needs of the business |
| initiative | an effective business leader demonstrates this when they have the ambition and motivation to get tasks done |
| intelligence | an effective business leader demonstrates this when they have knowledge and understanding |
| judgment | an effective business leader demonstrates this when they make decisions carefully and objectively |
| objectivity | an effective business leader demonstrates this when they look at all sides of an issue before making a decision |
| stability | an effective business leader demonstrates this when they are not too emotional or unpredictable |
| expenses | operating costs |
