In this English vocabulary sheet, we will be talking about Management and especially its way of operating and directing an organisation.

You will learn:

  • The definition of Management along with some examples;
  • The most important management vocabulary terms.

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What Is Management? Definition and Examples

Management is the process of planning, organising, leading, teaching and motivating a team, an organisation or a business, as well as making decisions and taking responsabilities. It also encompasses the process of controlling a business or organisation’s human, financial and physical resources in order to reach its goals.

Examples:

The most challenging management is that of a country.

There are three managementstyles: persuasive, democratic and laissez-faire.

A good manager must listen to his team”

bearded man reading the newspaper

Main Management Vocabulary: Key Terms To Learn

WordDefinition
BudgetSums allotted for the company’s administration
BusinessActivities involved in trading and finance with the aim of generating profit
CommunicationUse of techniques and actions to draw the attention of potential audiences with messages and persuade them of the value of a service or an item
LeaderA person who takes most of the decisions, directs the other team members and is in command
LeadershipQualities of a leader that involve a combination of charisma, expertise and soft skills
ManagerA man or woman who manages or directs a team, a staff, a company
MentorIt’s a person who has a positive influence on another individual, often younger. He/she doesn’t judge his/her performance or achievements. The relationship is based on the principle of voluntariness and aims to encourage the self-development of the younger one
SpearheadA progressive and productive element that figuratively refers to a dynamic individual or concept as a key motivator
SupervisorThe immediate superior of his or her team to whom a member of a company should report
ResponsibleA person who has the authority and obligation to plan, organise, staff, lead and control his subordinates
TraineeA person who, in the pursuance of his or her studies, is learning to do tasks under the guidance of a manager
WhistleblowerAn individual who uncovers a company wrongdoings
WordDefinition
ActivityA task whose inputs, outputs and added value are accurately established and evaluated
AuthorityAuthority is the formalised and legitimate power of a job that ensures that the holder can successfully fulfil his or her responsibilities
CompanyIt’s a societal entity whose main activity is to produce goods or services for the marketplace.
CostsThe sum including all expenses to complete a project, from materials to running expenditures
DirectorsThe managers’ direct supervisors
IndustryIt’s a business sector engaging in economic activities that combine inputs such as facilities, supplies, labour and skills to produce physical goods for the marketplace
OrganizationA person or group of individuals with their own functional structure. They are corporations, enterprises, non-profit associations or institutions
ProcessA flow of activities and labour
ProjectIt’s the process of carrying out an intention through a set of activities comprising several requirements, to achieve a desired objective
ProductA creation which can be a material object, a service, an idea, addressed to consumer
ProductionAn economic activity using labour and capital resources to produce goods or services that are purchased from other industries and then reprocessed
ResponsibilityObligation to plan, organise, staff, lead and control one’s subordinates
ServiceA service consists in supplying technical or intellectual expertise or providing work that is immediately usable by the consumer without processing the material
SkillsAn ability, whether innate or acquired, to excel at specified tasks

Business Management Vocabulary With Definitions

WordDefinition
BalanceAccounting document drawn up regularly by a company, showing all the accounts opened with an indication of each of their debits, the value and the sum of their credits, and the closing result of the operations
Balanced scorecardEvaluating strategic decisions in the light of shareholder and customer perspectives. Reviewing internal processes and areas for progression
Big dataTechnology for storing very high volumes of data for prospective analysis and especially modelling for a deeper understanding of the context, anticipating behaviour and more globally for better decision support
BoardA group of executives who leads the company and makes decision on major issues
Business planA written document setting out the business objectives, the procedures, the process and the timeframe by which these must be achieved
CashflowFinal budget balance generated by an investment at the end of a period
EnterpriseSynonymous with firm
ExecutivesMembers of a company or administration status who hold a high-level position within it
FinanceThe professional sector of money trading
Human CapitalHuman capital includes skills, experience and knowledge, which define an individual’s ability to handle a job
Human ResourcesUsually correspond to a company’s department which recruit the employees and is in charge of their relations with their employers
Information managementIt’s the set of company resources that enable information to be handled. It’s usually linked with technologies (hardware, software and communication), the processes that accompany them, and the people who support them

Project Management Vocabulary Worksheet

WordDefinition
Agile Project ManagementThe process of identifying repetitive cycles in a project in order to blend them and ensure optimal project success
BottleneckSystem limitation points slowing down the performance of the production flow: workload exceeds production capacity
CollaborationThe joint work of a project by members of a team
Critical Path Method (CPM)An algorithm that accompanies the project in detail. The operators must conform to it in the pursuance of a successful project
Follow upA meeting to discuss the progress of the project with the team
MilestoneThis is the stage in a project where the staff evaluates, reviews the documents and the deliverables and validates the phase. From this point on, the project will continue with no possibility of turning back
Project BudgetThe budget allocated to a project
Project ManagerThe individual in charge of the project implementation and completion
Project Portfolio ManagementEvaluation of the whole company’s projects and their coherence with its business strategy
Project StakeholderA person who contributes directly or indirectly to the achievement of a company’s project. Be it a team member, a company executive, a mentor, a customer or an end-user
Project TimelineIt describes the sequence of events in the project in the order they occur. It indicates precisely what is to be done during the project’s life cycle and also how it will be achieved
Resource AllocationUse of the budgets by allocating them according to needs in different departments
Waterfall ModelA ‘waterfall’ project life cycle management pattern which is quite traditional. The phases of the project follow a top to bottom scheme that is not mutable
Work Breakdown Structure (WBS)Divides the project into sections to be delivered by the management board to the respective parties according to their expertise
Work in Progress (WIP)A production management term on a stage to check work progress and budget status

Time Management: Essential Words and Terms

WordDefinition
AdjustReorganise in accordance with the requirements of the project
AgendaA tool that enables to record to-do's
AnticipationThe ability to predict potential difficulties by evaluating past occurrences
AppointmentA time, date and place set to meet with someone
DeadlineA given date for the completion of a task
EfficiencySkills enabling the greatest performance
OptimizeImplement the most effective approach to achieve the greatest result
PlanningOrganising the way tasks are carried out
PrioritizePlacing the most urgent tasks first
ProcrastinatePostponing your activities often through lack of motivation
Setting GoalsOrganising and optimizing the resources needed to achieve your objectives
Time LogA tool that evaluates your work time and helps you optimise it

Vocabulary For Conflict & Crisis Management

WordDefinition
AggressionThe intentional act of harming, either verbally or physically
ArbitrationTo have a fact established and a decision made by a third party
BargainingSynonymous with negotiation, usually applied to businesses involving money
BeltlineA common phrase that has its source in boxing: ‘punch below the belt’. It means attacking the weak sides of a target to achieve one’s own malicious goal
Bottom lineThe limit beyond which negotiation is no longer tenable
Buyer's remorseA sense of frustration on finding out that one could have gained more in a negotiation process
Claiming valueValue-claiming is about leveraging a conflict or a negotiation by the taking of resources
ConciliationA form of mediation whose aim is to preserve relationships
CooperationWorking with other partners
Distributive/Win/LoseBargaining that will give more benefit to one side and consequently less to the opponent
Face-savingHiding what is negative or reprehensible, and making it look right even if it doesn’t
GunnysackingA poor practice of hoarding all grievances, then dumping them on one person
Interpersonal conflictA situation where at least two parties are in conflicts and have incompatible objectives. However, it’s not impossible to reach consensus
IssueConcerns that need to be resolved to prevent conflict
MediationIntroducing a neutral third party to assist the parties involved in finding the best compromise to resolve the conflict

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