When there is an injury involving a laceration, or within surgery, we want the blood to stop flowing. The process of finishing the blood flow is called hemostasis. Stasis is a word meaning stop or stable situation. Hemostasis has three necessary steps: a vascular spasm, the formation of a platelet plug, and lastly, coagulation, where specific clotting factors enable a fibrin clot to be formed.
Fibrinolysis is different. It is not one of the steps towards hemostasis but the physiological process whereby a clot is degraded when healing is underway.