due diligence
A careful check of a company's records and finances before agreeing to a deal.
Example: The buyers carried out due diligence before signing the contract.
C120 words · Advanced
Business Management vocabulary — C1
Advanced business management vocabulary for strategy and change, including due diligence, succession planning, change management and the scope creep a project manager has to control.
20 questions
Words in this set
20value chain
All the steps a business takes to turn raw materials into a product customers will buy.
Example:
The company mapped its entire value chain to find savings.
market share
The percentage of total sales in an industry that one company controls.
Example:
The new phone helped the brand gain market share.
incumbent
/ˌɪnˈkʌmbənt/The company or person already holding a position of power in a market, before a challenger arrives.
Example:
The incumbent cut prices to fight off new competition.
disruptor
A company or product that changes an established market by offering something completely new.
Example:
The startup became known as a disruptor in the taxi industry.
subsidiary
/səbˈsɪdiˌɛri/A company that is owned or controlled by a larger company.
Example:
The airline operates as a subsidiary of a bigger travel group.
proxy
/ˈprɑksi/Someone given the authority to vote or act on another person's behalf, especially at a shareholder meeting.
Example:
She voted by proxy because she could not attend.
succession planning
Preparing certain employees to take over key roles in the future.
Example:
The board reviewed its succession planning before the CEO's retirement.
attrition
/əˈtrɪʃən/The gradual loss of employees over time as they leave and are not replaced.
Example:
The company reduced staff mainly through natural attrition.
onboarding
The process of training and introducing a new employee to a company.
Example:
Her onboarding included two weeks of training and team introductions.
matrix management
A structure where staff report to more than one manager.
Example:
Matrix management doubled the meetings and halved the decisions.
span of control
The number of people one manager directly supervises.
Example:
A span of control of nineteen is not management, it is a list.
change management
The planned handling of a major shift in an organisation.
Example:
Change management was a slide deck and one very tired consultant.
stakeholder mapping
Working out who is affected by a decision and how much.
Example:
Stakeholder mapping identified two people nobody had told.
critical path
The sequence of tasks that determines the total project time.
Example:
One item on the critical path slipped and everything moved.
scope creep
The gradual growth of a project beyond what was agreed.
Example:
Scope creep added four months and no extra budget.
business case
The written argument for why something should be funded.
Example:
The business case was written after the decision was made.
run rate
The rate at which something is happening, projected forward.
Example:
At the current run rate the reserves last nine months.
delegated authority
Permission to make decisions up to a set limit.
Example:
Her delegated authority stopped at fifty thousand pounds.
post-mortem
/poʊstˈmɔrtɛm/A review held after something to learn from what happened.
Example:
The post-mortem identified nine causes and blamed nobody.
