TERM GLOSSARY

Business – Business includes any organization public or private, which provides goods or services that can meet the customers, satisfaction in order to earn profit. The prospect of earning profit is what encourages people to open and expand their business.

Management – Management is the process of reaching organizational goals by working with and through people and other organization resources. The four basic management function or process are planning, organizing, leading and controlling.

Business Management – is a general management and measurement and measurement of business operation, efficiency and effectiveness and its impacts on the organization. It is often structured as a hierarchy, with the top management at the apex and supervisory management at the base. Different levels of management can be identified, senior management direct functions and middle management supervises departments or sections answerable to the director. They work towards organization goals and objectives as well as aligning an organization with the wants and need clients.

Business Records – are business information that contains the transaction between two or more parties in the form of electronic and paper documents that are kept for evidence and future references. Business records are created in the course of conducting business.

Records Management – is the area of general administrative management concerned with achieving economy and efficiency in the creation, maintenance, use and disposal of records of an organization throughout its entire life cycle and in making the information that is contained available in support of the business of that organization. (IRMT, 200).

Business Records Management – is the field of management responsibility for the efficient and systematic control of the creation, maintenance, use and disposition of business records throughout its entire life cycle in order to meet operational business need to be done from time to time to ensure a good quality of records system in the organization.