Essential Business and Management Vocabulary Definitions
Essential Business and Workplace Terminology
- Administrative
- Connected with organizing the work of a business.
- Agenda
- A list of business items to be discussed at a meeting.
- Appliances
- Machines or devices you use at home to do jobs like cooking or cleaning. They are often electrical.
- Appointment
- A formal arrangement to meet or visit somebody at a particular time, especially for a reason connected with their work.
- Brands
- Types of product made by a particular company.
- Career Development
- How people manage their
Primary vs Secondary Markets: Securities & Brokers
Primary and Secondary Markets
The primary market and secondary market are two distinct segments of the financial market where securities are issued and traded.
Primary Market
The primary market is where new securities are issued by companies to raise capital. In this market, securities are sold directly by the issuer to investors. Companies use the primary market to raise funds for various purposes, such as expansion, modernization, or debt repayment.
Examples of primary market instruments:
- Initial Public
Grab’s Strategy for Global Growth and Risk Management
Grab’s Strategy for Global Growth and Risk Management
In the current global environment, Grab operates in multiple countries with different economic conditions, regulations, and cultural contexts. As a digital platform company, it is highly exposed to market volatility, regulatory changes, and shifts in consumer behavior. To remain competitive in any global situation, Grab must focus on adaptable growth, operational efficiency, and strong risk management.
First: Actions to Grow
- Diversified portfolio
IRDAI: Regulation, Powers, and Insurance Risk Concepts
The Insurance Regulatory and Development Authority (IRDA) Act, 1999, was a landmark piece of legislation that transformed the Indian insurance industry. It ended the era of government monopoly (LIC for life and GIC for general insurance) and opened the doors for private players and foreign investment.
The IRDA Act, 1999: A Regulatory Landmark
The Act was passed following the recommendations of the Malhotra Committee (1994). Its primary goal was to create an autonomous, statutory body to oversee the
Read MoreEntrepreneur Versus Manager: Key Business Organization Concepts
Entrepreneur Versus Manager: Key Differences
This section explains the fundamental differences between an Entrepreneur and a Manager (10 Marks).
| Basis | Entrepreneur | Manager |
|---|---|---|
| Meaning | Person who establishes a business. | Person who runs an existing business. |
| Objective | Innovation, risk-taking, profit generation. | Efficient operations, achieving set goals. |
| Risk | Takes high personal risk. | Low personal risk (risk is organizational). |
| Rewards | Profits. | Salary/bonus. |
| Creativity | High creativity; introduces new ideas. | Works within |
Understanding Business Operations and Export Planning
Business Fundamentals
Business refers to an enterprising entity or organization that carries out professional activities. It can be commercial, industrial, or others. For-profit business entities do business to earn a profit, while non-profit ones do it for a charitable mission.
The Business Environment
It’s the sum or collection of all internal and external factors such as:
- Employees
- Customer needs and expectations
- Supply and demand
- Management
- Clients
- Suppliers
- Owner
- Activities by government
- Innovation in