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2. Whats leadership? #ThoughtCommons Leadership is about understanding and telling everyone what objectives are worth chasing. 3. Whats objective? #ThoughtCommons Objective is what an organization ultimately wants to achieve. 4. Whats goal? #ThoughtCommons Goal is small-small thing one needs to score to achieve a bigger objective overtime. 5. Whats management? #ThoughtCommons Management is getting all things done required to achieve objectives set by leadership. 6. Whats balanced scorecard? #ThoughtCommons Balanced Scorecard is a small report which tells you how are your performing on different objectives. 7. Whats benchmarking? #ThoughtCommons Benchmarking is doing things better, faster and cheaper by comparing how you do things with how others do them. 8. Whats business intelligence? #ThoughtCommons Business Intelligence is knowing a lot of things about past, present and future to make better business decisions. 9. Whats business operations? #ThoughtCommons Business Operations include all activities involved in making what you sell. 10. Whats centralization? #ThoughtCommons Centralization is when few people do all of a particular thing (mostly planning) in an organization. 11. Whats change management? #ThoughtCommons Change Management is changing things slowly and smoothly from what they are to what they should be without shocking anyone. 12. Whats communications management? #ThoughtCommons Communications Management is getting your messages across to the right people in the cheapest and the most impactful way. 13. Whats human resource management? #ThoughtCommons Human Resource Management is doing everything to have right number of right people working in a smooth work environment. 14. Whats business ethics? #ThoughtCommons Business Ethics remind you not be naughty, dirty and evil while working. 15. Whats corporate governance? #ThoughtCommons Corporate Governance is balancing conflicting interests of shareholders, leaders, employees, customers, suppliers & society. 16. Whats corporate social responsibility? #ThoughtCommons Corporate Social Responsibility is doing some social work to tell a set of people that you care about them. 17. Whats financial management? #ThoughtCommons Financial Management is making sufficient money available for all required things at all times. 18. Whats accounting? #ThoughtCommons Accounting is noting down neatly what you paid money for and what you got money for. 19. Whats assets? #ThoughtCommons Assets are all things an organization owns. 20. Whats liabilities? #ThoughtCommons Liabilities are all things an organization owes to others. 21. Whats capital? #ThoughtCommons Capital is what an organization is left with if it sells everything it has and pays off everything it owes to others. 22. Whats fixed cost? #ThoughtCommons Fixed Cost is what an organization spends even if it is not making anything and sitting idle. 23. Whats variable cost? #ThoughtCommons Variable Cost is what an organization spends in addition to its fixed cost when it starts making something. 24. Whats economics? #ThoughtCommons Economics is about understanding what needs to satisfy with our limited resources and what needs to let go. 25. Whats law of demand & supply? #ThoughtCommons Law of Demand & Supply says costlier a product, consumers want to buy less & sellers want to sell more. Vice-versa. 26. Whats capitalism? #ThoughtCommons Capitalism is when people are free to accumulate wealth and few become richer than others. 27. Whats socialism? #ThoughtCommons Socialism is when only government accumulates wealth and all are financially equal. 28. Whats GDP? #ThoughtCommons GDP is total price of all the things made in a country in a year. 29. Whats inflation? #ThoughtCommons Inflation is when things become costlier. 30. Whats deflation? #ThoughtCommons Deflation is when things become cheaper. 31. Whats globalization? #ThoughtCommons Globalization is when the world behaves like one country when it comes to business. 32. Whats liberalization? #ThoughtCommons Liberalization is when government stops behaving like a strict and unreasonable parent to organizations. 33. Whats marketing? #ThoughtCommons Marketing says understand what people want, get it made, tell them why they should buy it from you and deliver it to them. 34. Whats strategy? #ThoughtCommons Strategy is the smartest way to achieve what you want to achieve. 35. Whats placement? #ThoughtCommons Placement is making it easy for people to buy your products by making them available wherever they want. 36. Whats promotion? #ThoughtCommons Promotion is giving people more reasons to buy from you. 37. Whats PEST analysis? #ThoughtCommons PEST Analysis is understanding impact of politics, economy, society and technology on your business. 38. Whats SWOT analysis? #ThoughtCommons SWOT Analysis is understanding what you are good & bad at and knowing what can you get lucky and unlucky with. 39. Whats differentiation? #ThoughtCommons Differentiation is being different and better from others. 40. Whats economies of scale? #ThoughtCommons Economies of Scale is when you can make something at lesser cost because you are making a lot of it in bulk. 41. Whats brand? #ThoughtCommons Brand is the impression a company or a product leaves in minds of people. 42. Whats integrated marking communication? #ThoughtCommons Integrated Marketing Communication is talking to your customers at every possible place with the same message. 43. Whats project management? #ThoughtCommons Project Management is getting something done in the cheapest and best way within given time.