Unlock the Secrets of Management: Know the Most Used Terms in Management and Leadership and Achieve Professional Success!
In this content we will explain in detail the main terms of leadership management to clear all your doubts.
What we will see in this article
Why get to know the most used terms in Management and Leadership?
It’s amazing how knowing about the most used Terms in Management and Leadership is essential to stand out in the professional world.
How bad it is to enter a meeting or conversation where you don’t know what they are talking about, isn’t it? And the fear that we will make a mistake and say something that will make us feel ashamed, have you thought about that?
Well, it is because we went through this that we decided to make this dictionary with the most used terms in Administration and Leadership! We are sure it will help you a lot in your professional journey.
Shall we go to them?
Dictionary of the most frequently used terms in administration
In this topic we will just show you the terms that we will explain in today’s content, with this management dictionary!
- Benchmarking
- Brainstorming
- Budget
- Business plan
- Human capital
- Change management
- Competitiveness
- Accounting
- Quality Control
- Financial Control
- CRM (Customer Relationship Management)
- Customer service
- Dashboard
- Departmentalization
- Entrepreneurship
- Strategy
- Flowchart
- Environmental Management
- Knowledge Management
- Project Management
- Performance Indicators
- Innovation
- ISO 9001
- Kaizen
- Kanban
- KPI (Key Performance Indicator)
- Lean Manufacturing
- Logistics
- Marketing
- SWOT Matrix
- Meritocracy
- Goals
- Mission
- Business Model
- Monetization
- Opportunities
- Budget
- Outsourcing
- PDCA
- Strategic Planning
- Quality Policy
- Processes
- Productivity
- Quality
- Reengineering
- ROI (return on investment)
- Customer satisfaction
- Scorecard
- Stakeholders
- Outsourcing
Management Dictionary
Now that we have seen the terms, let’s explain each of them in this Management Dictionary.
What does Benchmarking mean?
Benchmarking in short is when a company compares its performance with other competing companies.
What does Brainstorming mean?
In short, brainstorming is a meeting of professionals who raise ideas and discuss which of the ideas raised is the best.
What does Budget mean?
Briefly, budget is the company’s budget for a certain project, product or service, based on this value it is verified what is or is not possible to do.
What does Business plan mean?
Within our Management dictionary, business plan means the company’s business plan, a document with current and essential company information such as:
- Products and services
- Area of expertise
- Target Audience
- Financial Planning
- Short, medium, and long-term goals and objectives
What does Human Capital mean?
Human capital is the value of each professional to perform the job, that is, how well that professional or that group of professionals do that task.
What does change management mean?
Change management is a method for planning in a structured way any change in the company, as well as its benefits for the business.
This used to be a more commonly used term in management, yet it has been little used.
What does Competitiveness mean?
Competitiveness occurs when different companies offer different products to the same target audience.
Thus, it is necessary to compete to have as many customers as possible, or the customers who pay the most to maintain the company’s financial health.
What does Accounting mean?
Accounting is a science that identifies methods of calculation to manage the bureaucracies of a company in the best possible way.
Thus, ensuring the financial health of the company according to its situation and its objectives and goals.
What does Quality Control mean?
In a direct way, quality control is the standardization of processes to ensure standardization of product quality.
A family cake recipe is a quality control, one wants to arrive at a cake with certain characteristics and therefore it is necessary to standardize the steps.
What does Financial Control mean?
Briefly, financial control manages the day to day finances of a company, managing cash flow, operations, investments, bills, and so on.
What does CRM (Customer Relationship Management) mean?
Objectively speaking, CRM is the set of actions, methods, and technologies to relate to the customer.
Thus, ensuring that he remains a loyal customer of the company by buying more products and subscribing to more services.
Or what does Customer service mean?
To say the essentials, customer service is the support to help customers, answering questions, explaining situations and steps to ensure a better experience for customers.
What does Dashboard mean?
Dashboard is a panel or wall that has the key data for the company based on the goals and objectives, as well as its success parameters on the goals and objectives tables.
What does Departmentalization mean?
In short, departmentalization is the grouping of activities following an internal logic and seeking efficiency in the various areas of the company.
What does Entrepreneurship mean?
Entrepreneurship is the ability to identify problems and offer solutions by earning a financial profit from the solution that is beneficial to society.
What does Strategy mean?
To be brief, strategy is a set of steps, methods and measurements to achieve a certain objective or goal.
What does Flowchart mean?
In a direct way, a flowchart is a list of organized steps with different paths generally elucidating a workflow.
For example, when you press the switch on the lamp it goes on, and if you press it again it goes off.
In the flowchart, there would be a cycle represented by figures, showing the action (Flipping the switch), the first effect (Turning on), and the second effect (Turning off).
What does Environmental Management mean?
In short, environmental management is the management of natural resources and the identification and awareness of what the impacts of using these resources will be.
What does Knowledge Management mean?
To be brief, knowledge management is the coming together of various processes to capture information and distribute it.
Helping companies to better understand the market’s intellectual capital and new technologies from these processes.
What does Project Management mean?
Objectively speaking, project management is a part of business that will define the resources, knowledge, data, and skills necessary to achieve a goal or objective.
What do Performance Indicators mean?
In short, performance indicators show whether the company will achieve the planned goal and in the planned time.
These parameters are also used to show whether the company should change the goal, the time it is expected to achieve it, or other resources to achieve it.
What does innovation mean?
Innovation is uniting already existing elements (different or not) to recreate or create something new with the aim of improving something already existing.
What does ISO 9001 mean?
In a direct way, ISO 9001 is a certification to make business processes more efficient, thus ensuring a standard of quality.
What does Kaizen mean?
Kaizen comes from Japanese meaning continuous improvement, that is, consistent improvements over time.
This applicable model helps that business processes have continuous and gradual improvements.
What does Kanban mean?
To be brief, Kanban is a system for managing the production of a product or tasks in a process or service.
Being expressed through columns and cards to show this dynamic flow visually.
Or what does KPI (Key Performance Indicator) mean?
KPIs are essential performance indicators that serve as a parameter to know the evolution of any project.
Oder was bedeutet Lean Manufacturing?
Lean manufacturing is a lean production system to ensure product quality and reduce any kind of waste.
Establishing processes to shorten delivery time, focus on essential resources, and maintain the quality standard.
What is logistics?
Logistics is an area within any large company focused on planning, executing, distributing, and improving transportation and warehousing.
What does marketing mean?
Marketing is a huge list of techniques and processes to get people to discover your company and become loyal customers.
What is meant by SWOT Matrix?
SWOT analysis or matrix is a methodology that analyzes and defines scenarios for more assertive decisions within a company.
What does Meritocracy mean?
Meritocracy is nothing more than achieving power by merit.
In other words, the harder you work, the more you earn. From financial gain to satisfaction, knowledge and so on.
What does Goals mean?
Goals are part of a quantified goal or goals. That is, there are characteristics to achieve it.
For example, a company’s goal is to sell more. The goals are to increase the investment in marketing by 30%, train the staff to know contemporary techniques, and so on.
What does Mission mean?
Briefly, the mission statement in a company is its purpose, the reason the company exists and what its objectives are to achieve its goals and objectives.
What does Business Model mean?
In short, a business model is what problems the company solves and how it makes a return.
For example, Netflix today has its business model in subscriptions, unlike the old Blockbuster that focused on rentals.
What does monetization mean?
In a direct way, monetization is a form of profit source. For example, selling products, consulting, advertising, and so on.
What does “opportunities” mean?
To be brief, opportunities are favorable occasions for the company, in other words, an opportune moment.
For example, hiring a team with specific and broad expertise in that market.
What does Budget mean?
Budgeting is when a company calculates its earnings, expenses, and investments.
With this she establishes the value on hand based on these calculations, for the projects, goals and opportunities.
What does Outsourcing mean?
Outsourcing is taking processes, tasks, and goals to a third party. Whether they are freelancers, other companies, or services like A.I., for example.
This practice allows the company to reduce its costs with hiring, training, etc., while still ensuring efficiency.
What does PDCA mean?
In short, PDCA is a methodology for solving problems, controlling processes, and ensuring continuous improvement.
What does Strategic Planning mean?
In short, strategic planning is a system with processes to choose the best way to achieve the objectives.
Within strategic planning there is an analysis to understand the scenario that the company is in, the objectives, goals, and its resources.
What does Quality Policy mean?
In an objective way, quality policy is a parameter that the company has to ensure the ideal condition of that product or service.
In this way, if the company chooses a certain parameter it is naturally choosing it to the detriment of another.
For example, if the company’s quality policy is to create customized products, they are naturally giving up their identity.
This is one of the most used terms in management, especially in the industrial area.
What does “processes” mean?
In the management dictionary, the term “Processes” is a group of structured actions that follow a logical order in order to achieve a certain result.
An example that we have mentioned in previous topics is the cake recipe, which is nothing more than a list of processes.
What does productivity mean?
Productivity in short is the ability of a company or an employee to produce in a certain amount of time.
The more a company produces with the expected quality and in less time, naturally it will be more productive.
What does Quality mean?
In a direct way, quality in management and leadership is defining whether something achieves success within pre-established objective parameters.
For example, imagine that you are judging an employee on his or her speed of delivery.
Thus, the two established parameters are speed and what is delivered. With this, the quality of what is delivered is not evaluated.
However, if productivity is being judged, naturally the parameters are:
- Delivery Time
- The one that delivers
- Delivery Quality
What does Reengineering mean?
In short, reengineering is a methodology for reviewing and readjusting business processes for improvement.
That is, to analyze processes, budget, resources, from conception to finalization. In the management dictionary it is not the most difficult word, but it has a place among the most used terms in management.
What does ROI (Return On Investment) mean?
ROI is the parameter to know how much the company’s revenue was over the investments made to generate that revenue. Without any doubt, it is still one of the most used terms in Management.
The formula is Revenue – (Costs and Investments) ÷ Costs and Investments = ROI
What does Customer Satisfaction mean?
Objectively speaking, customer satisfaction is the metric that indicates whether the company has managed to meet all customer expectations in three scenarios
- Before you buy
- During purchase
- After Purchase
Generally, this metric is defined by a score in each separate scenario or a total score.
Many companies also use a text box for the customer to indicate improvements.
What does scorecard mean?
In short, Scorecard is a self-assessment process using a form to measure the performance of a developer or company. It has been used by HR and is one of the most used terms in management.
What does “stakeholder” mean?
Stakeholders are in short all companies, professionals, investors, and institutions that have an interest in the success of a particular company.
Those people who connect within this interest, focus on three objects:
- Projects
- Objectives
- Organization
What does Outsourcing mean?
Outsourcing in a quote is the hiring of professionals outside the company (Freelancers), other companies or subscriptions to perform specific services.
Dictionary of Leadership Terms
In this topic we will show you the most commonly used Leadership terms today, explaining what each one means.
In fact, we are presenting a complete dictionary of leadership terms to you, and we hope you will enjoy it very much, as well as helping your career, of course.
- Accountability
- Self-Development
- Autonomy
- Authority
- Charisma
- Coaching
- Communication
- Conflicts
- Credibility
- Creativity
- Delegation
- Team Development
- Diversity
- Empathy
- Enablement
- Ethics
- Feedback
- Flexibility
- Focus
- People management
- Interpersonal skills
- Technical Skills
- Conceptual Ability
- Leadership skills
- Influence
- Innovation
- Emotional Intelligence
- Leadership
- Authentic Leadership
- Charismatic Leadership
- Coercive Leadership
- Democratic Leadership
- Distributed Leadership
- Laissez-faire leadership
- Participative Leadership
- Situational Leadership
- Transformational Leadership
- Visionary Leadership
- Mentor
- Motivation
- Negotiation
- Networking
- Persuasion
- Career Planning
- Power
- Relationship
- Resilience
- Results
- Decision Making
- View
What does accountability mean?
In short, accountability is the set of processes for the managers of a company to be audited for their actions.
What does Self-Development mean?
Self-development is the monetary and time investment to consciously develop new skills.
It is usually a process by employees to increase their chances of being promoted and chart new career paths.
What does Autonomy mean?
Objectively speaking, autonomy is the ability to perform tasks, processes, and think creatively without the help of another person.
What does Authority mean?
Authority is a person who holds a certain position where other people are subordinate to that position.
Performing tasks, reporting and accountability within a contractual regime previously established and agreed upon by both parties.
What does Charisma mean?
In short, charisma is the union of various social skills that arouse approval and sympathy in the people around you.
What does Coaching mean?
Coaching is a professional or process that focuses on professional development, considering the characteristics, weaknesses, and ideals of the person who is doing the process.
What does Communication mean?
To be brief, communication is the ability to convey messages where you and your interlocutor understand.
What does Conflict mean?
Put bluntly, conflict is a lack of agreement between two or more people. Conflict usually occurs because one or both parties are dissatisfied, and confrontation ensues.
Imagine that your superiors are defining various responsibilities for you and you are unhappy about it.
Naturally, a conflict will occur based on this dissatisfaction. However, it is necessary to understand that conflicts are divergences.
That is, they do not connect with violence on any level. Just disagreements that should be solved through dialogue.
What does Credibility mean?
Credibility in short is the quality that other people trust you. Usually, by the lack of errors or by previous hits on an objective parameter.
For example, you increased your credibility when you masterfully presented the company’s new product to the customer.
In the presentation their communication, tone of speech, arguments, etc. were considered as parameters.
All of them are completely objective parameters, aren’t they? In this way, you increase your credibility to your superiors.
What does Creativity mean?
In short, creativity is the facility to connect different ideas and thereby draw innovative plans to solve problems.
For example, imagine a new assembly process to make the process faster and ensure quality.
This new process may be based on other ideas, but when connected and put together, it can become something totally new.
What does Delegation mean?
Delegation in management is the assignment of tasks, responsibilities, and powers to employees, leaders, and managers.
What does team development mean?
Team development in management is the procedure of designing more efficient groups of professionals.
In this way, guaranteeing more efficient results and especially considering the satisfaction of the collaborators when they are in the group.
What does Diversity mean?
Diversity is everything that has variety and is diverse, where there is a contrast between characteŕisitca, but which have equal importance.
What does Empathy mean?
Empathy is the ability to put yourself in someone else’s shoes, imagining in detail the situation they are experiencing.
With this exercise, it is possible to understand your needs, priorities, desires, dreams, emotions, and feelings.
Something essential for management, since without empathy, a leader would never be able to stand in the shoes of an initiating employee.
What does Empowerment mean?
Empowerment is when management ensures motivation, authority, resources, leadership, and opportunities for the team.
This provision guarantees freedom for the team to solve problems and come up with ideas that will help the company.
What does Ethics mean?
In short, ethics is the set of principles that everyone in a company should follow.
This guidance is essential for the fair and satisfactory coexistence between employees, teams, leaders, and the market.
What does Feedback mean?
Feedback in short is an evaluation made from one person to another where their performance, behavior, actions and other characteristics within the company are evaluated.
It is worth remembering that feedback can be done regardless of the hierarchical level, but the goal is not to offend.
The purpose of feedback in a company is to give praise or discuss ways to improve.
What does Flexibility mean?
Flexibility in short is the ability to adapt according to what the situation calls for, something essential for leaders in times of crisis.
What does Focus mean?
In short, focus is the ability to keep something a priority, such as a task, a search for a solution, and so on.
Thus, ignoring anything that tries to divert your focus from what you have set as your priority.
What does People Management mean?
People management, in short, is the methodological set of a company’s HR to ensure the development of the company’s human capital.
What does interpersonal skill mean?
Objectively speaking, interpersonal skill is the set of characteŕisites that a person has that makes living with others simple.
From simple traits like politeness, charisma, and kindness to skills like oratory.
What does technical skill mean?
Technical skill in short is a skill that the employee learns through experience, such as fluency in a language.
What does Conceptual Ability mean?
Conceptual ability is the set of skills that help to take a broad view of a company.
For example, when starting a goal, the company’s previous and subsequent goals are checked.
In this way, it is possible to understand what the difficulties will be, how to manage the company’s resources, and so on.
What do leadership skills mean?
Leadership skills in short are the abilities a professional has to organize people to achieve a certain goal.
What does Influence mean?
In short, influence is the action of changing the outcome, design, evaluation, or execution of something. Changing the result according to your will completely or partially.
What does innovation mean?
Innovation in short is the ability to connect different things in order to create improvements or solve problems.
This innovation can be partially or completely, for example the creation of the smartphone, it is new, but also an improvement of old cell phones.
What does Emotional Intelligence mean?
Emotional intelligence is the ability to manage one’s own emotions in order to take actions based on logic.
You have to understand that emotional intelligence has different levels, don’t you?
Since most people when angry do not yell at other people, but others do.
Similarly, other people, even with an absurd crisis in their company, still take actions based only on logic.
What does Leadership mean?
Leadership is the ability to motivate, organize, and direct people to achieve a macro objective.
This ability improves as the leader has more experience and theoretical knowledge of best practices.
What does Authentic Leadership mean?
Authentic leadership is leadership that works considering the interests of everyone on the team.
In other words, a large part of this leadership’s efforts is to ensure that the needs of the team are recognized and met.
What does Charismatic Leadership mean?
Charismatic leadership is leadership that focuses on inspiring employees, as well as ensuring their empathy and trust.
Thus, ensuring the results of goals and objectives through inspiration.
What does Coercive Leadership mean?
Coercive leadership is leadership that makes all the decisions, defines processes without considering the opinion of the employees.
You have to understand that this type of leadership is neither better nor worse than the others, it is just one of the models.
Generally used when the team is new and has little practical experience.
Especially when the results cannot be negative in any way.
However, although coercive leadership exists, it is not good form to use fear and punishment for any leadership model.
What does Democratic Leadership mean?
Democratic leadership is leadership where employees have a say in processes and actively participate in decision making.
It is important to say that although you participate, all decisions are taken with the person responsible for the team, that is, the leader.
What does “distributed leadership” mean?
Distributed leadership is leadership that defines the tasks and the desired outcome of each, but the process is done by the employees.
With this, the leader only evaluates and follows up on the results and the execution of these processes.
What does laissez-faire leadership mean?
Laissez-faire leadership is the most liberal leadership, that is, it is leadership that performs only the main tasks of a leader.
In this way, it gives the team autonomy to plan, configure and execute in their own way, as long as the result is positive.
This type of leadership usually occurs with charismatic leaders or more creative and subjective processes.
What does Participatory Leadership mean?
Participative leadership places great value on the opinions and participation of the team in processes and decision making.
In this way, the decision power does not have the leader as the main factor, but becomes decentralized.
What does Situational Leadership mean?
Situational leadership is the leader who can create new processes from scratch, according to the company’s current situation.
In this way, it demands creativity from the leader and he can be more coercive in some cases or democratic in others.
What does Transformational Leadership mean?
Transformational leadership is leadership that the leader motivates employees to innovate and contribute to the company.
What does Visionary Leadership mean?
Visionary leadership is leadership that creates solutions to problems in innovative ways, that is, improving or transforming processes.
However, visionary leadership only bears fruit in the long run where there is an improvement of the proposed ideas as well as their maturation.
What does Mentor mean?
The mentor is a person who has expertise in something more than another person and shows this second person how to get to his or her level of expertise.
In management, mentoring can occur from a more experienced employee to a less experienced one, as well as from a leader to an employee.
What does Motivation mean?
Motivation is literally the reason why a person does an action, it seems obvious and simple, but that is the meaning.
If a person wants to get a promotion, his motivation is the higher salary, more benefits, more leadership, and so on.
All these reasons make this professional take several actions to reach the goal.
What does Negotiation mean?
Negotiation is the act of trying to close a deal that is satisfactory to both parties. It is important to understand that it is only the attempt and not the success of the negotiation.
What does Networking mean?
Networking in management and leadership is the act of networking with other professionals in your field.
This relationship can be generated at events, in college, and other places, with the aim of creating opportunities in the future.
What does persuasion mean?
Persuasion is the ability to understand someone’s motivations, as well as their beliefs and internal logic, in order to influence them to do something you want.
Persuasion often has a negative connotation, but it in itself is just a skill, isn’t it?
For example, you can persuade your leader to better consider factors that were not being considered before in the plan.
Thus, creating a more consistent and thus more effective planning.
What does Career Planning mean?
Career planning is the theoretical path that a professional plans based on his or her goals and the challenges he or she will face.
However, it can also be understood as the company encouraging the professional to grow within the company, by being promoted and reaching higher hierarchical levels.
What does Power mean?
Directly and simply, power in management and leadership is nothing more than the ability to do something by skill or by authority.
What does Relationship mean?
Relationship, in a quote means a connection between two people through mutual interests and goals.
What does Resilience mean?
Resilience is the ability to adapt to new situations, especially stressful situations that present themselves in your life.
What does Results mean?
Results are an effect of a cause, usually an action of a professional or a behavior of another agent.
For example, the drop in sales in a company is a result where it has several agents, some of them are:
- Public disinterest
- Insufficient marketing
- Negative product reviews
What does Decision Making mean?
In short, decision making is evaluating the possible alternatives, imagining their results, and choosing the one that you think is best.
In some cases the decision making is by objective parameters, but in most cases they are subjective parameters.
What does Vision mean?
Vision in a nutshell is where the company wants to be within a certain period of time. The vision can be understood as part of the company’s mission, as well as its values.