| Economy - Refers to the state of a country or | | | | How a company handles feedback has a bearing |
| region in terms of the production and | | | | on the progress the company will make in the |
| consumption of goods and services and the | | | | future. Customers are usually the best evaluators |
| supply of money. There is no country that can | | | | of a company's goods and service delivery as |
| exist without an economy. The safest place for | | | | they have firsthand experience with both the |
| any country is to be in a position where there a | | | | employees and the product. |
| lot of production happening to the extent that | | | | Expenditure - This refers to where we spend |
| surplus is exported to other regions. A nation's | | | | money. Just as you plan and set goals for getting |
| economy is affected when a nation operates on | | | | income, expenditure too should be planned for. |
| credit only. The economic temperature of a | | | | This is the reason for a budget which helps a |
| country has a direct effect on any company or | | | | financial person to monitor where money is being |
| organization operating within. | | | | spent. Failure to track the expenditure patterns |
| Employment - This is when someone gives you | | | | will lead to bankruptcy as money leaks every |
| work and you are paid for it. Employment can be | | | | now and again. Every month and every so often, |
| short term or long term (open ended contract). It | | | | a variance report must be produced which shows |
| is important that when you are employed you | | | | what was budgeted and how much has been |
| adhere to the expectations of your job. Meet | | | | spent already. This helps leaders to make |
| your targets. Stick to company code of conduct. | | | | informed and fruitful decisions. |
| Remain accountable to your employer. Develop | | | | Encryption - This is important in the security of |
| trust with immediate superior. If employed as a | | | | business information. This is a process by which |
| leader or manager, treat your subordinates | | | | information is converted to codes during |
| properly. When employed sometimes it is about | | | | transmission or storage. No one is able to tap into |
| results not necessarily the method to the results | | | | the organization's information when information is |
| hence some sub contract to get the job done. It | | | | encrypted. On the other hand one has to decrypt |
| is up to the one requiring results to spell out if sub | | | | the information to make it understandable. With |
| contracting is permissible. The rate of employed | | | | the improvements in ICT, there is an inherent |
| to non employed populace determines the | | | | need to secure organizational data from outsiders |
| productivity levels in a country. A country with | | | | who can use this to damage the reputation of the |
| 80% of the population unemployed is either non | | | | organization. |
| productive or most people are now running their | | | | Environment - This refers to the conditions or |
| Small to Medium enterprises (informal sector). | | | | surroundings in which the business operates. It |
| Empowerment - This means giving power or | | | | also refers to the natural world, especially as |
| authority to someone else. The best method of | | | | affected by humanity, the existence of the |
| empowerment is to create in a person a self | | | | business operation. Management should take |
| sustainable environment where they are not | | | | issues of environment seriously as some |
| depending on donor aid but they can generate | | | | businesses have a negative impact on people's |
| their own livelihood income. For a long time | | | | lives through fumes, poor waste management |
| communities around the world have begged and | | | | etc. In most organizations this issue is handled by |
| received donor funding. This has created a lot of | | | | SHE people (Safety, Health and Environment). You |
| dependence. In times where this funding is | | | | cannot run a mine and ignore these three |
| stopped there is absolute chaos. There is nothing | | | | fundamentals. How is your mine impacting on the |
| wrong with donor funding. Empowerment is a lot | | | | natural ecosystems, how is your processing plant |
| better than donations. When you can teach | | | | affecting the water in dams etc, How is the |
| someone how to own a fish pond and not give | | | | atmosphere underground affecting the safety, |
| them fish then you have empowered them. | | | | health and environment your employees work |
| People feel better when they have control of | | | | under. |
| their own lives. | | | | Equality - In organizations this is a major issue. |
| Entrepreneur - This is a person who sets up a | | | | There is no religion, race, gender or tribe that |
| business or businesses. This is someone who is | | | | should have better access to employment or |
| enterprising, always making sure he/she is making | | | | other privileges based on their group attributes. |
| profits and multiplying the money on hand. When | | | | Gender sensitivity will ensure you give equal |
| a nation has many entrepreneurs it becomes | | | | opportunities to both male and female even in |
| very productive. It attracts the buyers from | | | | areas that have previously been male dominated. |
| other nations earning valuable revenue which | | | | Ergonomics - This is the study of people's |
| boosts the well being of the particular nation. | | | | efficiency in their working environment. There is |
| Entrepreneurs are therefore the backbone of any | | | | way of sitting on a desk when using a computer |
| economy. Many people get an education so that | | | | which does not bring injury or strain to the body |
| they become workers while others work so that | | | | parts such as neck, arms etc. This recommended |
| they become employers as well. For as long as | | | | sitting posture helps individuals to be efficient at |
| you carry the mindset of a worker you will be | | | | what they do. Always strive as a leader to |
| subject to the entrepreneur. | | | | establish what the working environment should be |
| Equity - It can refer to the value of a mortgaged | | | | that can help to maximize the input from your |
| property after deduction of charges against it or | | | | teams |
| the value of shares issued by a company. A | | | | Ethics - These are moral standard and principles |
| company issues shares on the market to raise | | | | by which the business is run. Business ethics is |
| money to expand the operations. Once someone | | | | having a moral compass when leading teams |
| buys shares or equity from a specific company | | | | within a corporation setting. Corporate governance |
| they become a shareholder. The more shares one | | | | is another term used to emphasize the fact that |
| gets, the more power to make influential decisions | | | | businesses should be run without chaos. There |
| on the company. | | | | should be separation of duties in all areas, checks |
| Evaluation - This is a system used to assess | | | | and balances, clarity of roles and expectations and |
| feedback or progress a product is making on a | | | | a general guide on how to deal with the diverse |
| specific market segment. In any company there is | | | | situations faced by leaders in business. People |
| need for continual review and revisiting and | | | | would rather deal with an ethical, transparent and |
| evaluation of processes, systems, products and | | | | trustworthy business which may actually be |
| the people. With no clear monitoring and evaluation | | | | expensive compared to a cheap, unethical |
| of systems, the company or organization cannot | | | | business where anyone does what they feel like |
| measure its reach, effectiveness and efficiency. | | | | doing. |