LUX WMN’s Go-To Glossary for All Things Business
LUX WMN
07 March 2024
Throughout history, teaching boys and young men everything there is to know about business, investing, economics and networking has become a common practice. Typically learning from their fathers, these men are then given a huge advantage in the business and finance world, allowing them to make more money, receive more raises, and get promoted significantly more than women.
According to a Women in the Workplace report by LeanIn.Org and McKinsey, for every 100 men promoted to a manager role in 2022, only 87 women earned the same advancement.
The knowledge gap between men and women is a major contributor to the wealth gap that has overtaken the industry. This is why LUX WMN is committed to uplifting and encouraging women who weren’t given the supportive apprehension and information that their male counterparts received in their youth.
LUX WMN has put together this “Go-To Glossary for All Things Business” for all the women out there who feel oppressed and marginalized simply because of their gender. This index will be your guide to conquering the industry and competing toe-to-toe with the men in your field.
Accounts Payable: “A record that represents a business’s obligation to pay off a short-term debt to a supplier or creditor.”
Accruals: “Expenses and earnings that have been incurred, but for which money hasn’t yet changed hands.”
Asset: “Anything that has value and is owned by a business.”
Benchmarking: “The process of comparing performance against external or internal numbers.”
Bear Market: “A prolonged drop in investment prices.”
Bull Market: “A market in which share prices are rising, encouraging buying.”
B2B: “Describes dealings that are ‘business-to-business’.”
B2C: “Describes dealings that are ‘business-to-consumer’.”
B2G: “Describes dealings that are ‘business-to-government’.”
Buyer Persona: “A summary of the characteristics of a customer group or segment.”
Capital: “The wealth, either in money or assets, that is available to a business.”
Cash Flow: “The movement of money in and out of a business over a specific period of time.”
Depreciation: “The reduction in value of an asset over time, often due to wear and tear.”
Digital Marketing: “Marketing conducted through the internet.” (EX: social media, content marketing, influencer marketing, etc.)
E-commerce: “Buying or selling products over the internet.”
Equity: “The ownership of assets, including related debts and liabilities. Equity is measured by subtracting debts/liabilities from the assets.”
ETF: “Exchange-traded funds”
Gross Profit: “Total sales minus direct cost (materials, labor, marketing, delivery, etc.)”
Incentivise: “Using rewards to motivate a customer or team member to complete a desired action.”
KPI: “A ‘key performance indicator’ is a metric that measures effectiveness, whether of actions, team members or the business as a whole.”
Liability: “A debt or expense that a business is legally obliged to pay, from wages and bills to taxes and loan repayments.”
Liquidity: “A gauge of how quickly an asset can be converted into cash for full market value.”
Margin: “The profit of a sale represented as a percentage after expenses are accounted for.”
Marketing: “The promotion of your business, products, and services with the intent to sell.”
Monetise: “To earn money from an activity.”
Net: “The amount remaining after all expenses, costs and deductions have been accounted for.”
PPC (Pay Per Click): “‘Pay per click’ is a form of digital marketing where you only pay if a user clicks on your ad.”
ROI: “‘Return on investment’ is measured as the ratio of net income against investment.”
SEO: “‘Search engine optimization’ is the process of enhancing your website in order for it to rank higher on a search engine results page.”
SWOT: “An analysis of a business’s ‘strengths, weaknesses, opportunities and threats’.”
UX: “‘User experience’ is most commonly used to describe the quality of the experience of using a piece of technology.”
Variable Costs: “Expenses and costs that fluctuate based on the volume of business.”
Working Capital: “The monetary resources needed to maintain day-to-day business operation.”
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