# Business Management Advanced

https://hienglishquiz.com/vocabulary/professional-specialized-c1-business-and-management-vocab

- CEFR: C1 (Advanced)
- Theme: Professional & Specialized
- Words: 20
- Premium: no
- Locked: no

Advanced business management vocabulary for strategy and change, including due diligence, succession planning, change management and the scope creep a project…

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## Word list

* **due diligence**: A careful check of a company's records and finances before agreeing to a deal. — “The buyers carried out **due diligence** before signing the contract.”
* **value chain**: All the steps a business takes to turn raw materials into a product customers will buy. — “The company mapped its entire **value chain** to find savings.”
* **market share**: The percentage of total sales in an industry that one company controls. — “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. — “The **incumbent** cut prices to fight off new competition.”
* **disruptor**: A company or product that changes an established market by offering something completely new. — “The startup became known as a **disruptor** in the taxi industry.”
* **subsidiary** /səbˈsɪdiˌɛri/: A company that is owned or controlled by a larger company. — “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. — “She voted by **proxy** because she could not attend.”
* **succession planning**: Preparing certain employees to take over key roles in the future. — “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. — “The company reduced staff mainly through natural **attrition**.”
* **onboarding**: The process of training and introducing a new employee to a company. — “Her **onboarding** included two weeks of training and team introductions.”
* **matrix management**: A structure where staff report to more than one manager. — “**Matrix management** doubled the meetings and halved the decisions.”
* **span of control**: The number of people one manager directly supervises. — “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. — “**Change management** was a slide deck and one very tired consultant.”
* **stakeholder mapping**: Working out who is affected by a decision and how much. — “**Stakeholder mapping** identified two people nobody had told.”
* **critical path**: The sequence of tasks that determines the total project time. — “One item on the **critical path** slipped and everything moved.”
* **scope creep**: The gradual growth of a project beyond what was agreed. — “**Scope creep** added four months and no extra budget.”
* **business case**: The written argument for why something should be funded. — “The **business case** was written after the decision was made.”
* **run rate**: The rate at which something is happening, projected forward. — “At the current **run rate** the reserves last nine months.”
* **delegated authority**: Permission to make decisions up to a set limit. — “Her **delegated authority** stopped at fifty thousand pounds.”
* **post-mortem** /poʊstˈmɔrtɛm/: A review held after something to learn from what happened. — “The **post-mortem** identified nine causes and blamed nobody.”

## Related

- Vocabulary library: https://hienglishquiz.com/vocabulary
- Section guide: https://hienglishquiz.com/vocabulary/llms.txt