Business Vocabulary
innovation
The act of introducing something new or different.
synergy
The interaction or cooperation between two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.
Glossary Reference
Professional terminology used in corporate environments, management, and trade.
innovation
The act of introducing something new or different.
synergy
The interaction or cooperation between two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.
leverage
The power or ability to influence people or situations.
stakeholder
A person or group that has an interest or concern in an organization or project.
benchmark
A standard or point of reference against which things may be compared or assessed.
facilitate
To make an action or process easier.
collaboration
The act of working together with one or more people to achieve a common goal.
strategic
Related to the identification of long-term or overall aims and interests and the means of achieving them.
agile
Able to move quickly and easily; nimble.
assessment
The act of evaluating or appraising a situation, person, or piece of work.
outsourcing
The practice of obtaining goods or services from an external source.
workflow
A sequence of processes or activities through which a piece of work passes from initiation to completion.
equity
The quality of being fair and impartial; also refers to ownership interest in property after liabilities are deducted.
procurement
The act of obtaining or acquiring goods, services, or works from an external source.
negotiation
The process of discussing or settling terms of a transaction or agreement.
scalability
The ability of a system, network, or process to handle a growing amount of work or its potential to be enlarged to accommodate that growth.
compliance
The act of conforming to rules, standards, or laws.
disruption
A disturbance or interruption of the normal flow or functioning.
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