business managment
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Interest: The price paid for obtaining or price received for providing money or goods in a credit transaction, calculated as a fraction of the amount or value of what was borrowed.
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adaptation: Adjustment to extant conditions; modification of a thing or its parts in a way that makes it more fit for existence under the conditions of its current environment.
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adware: A software application that includes advertisements, which are displayed while the software is running. Developers use adware as a source of income and to keep the costs of the software down (usually making it free). Some adware programs can include spyware.
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affirmative action: a policy or program providing advantages for people of a minority group who are seen to have traditionally been discriminated against, with the aim of creating a more egalitarian society through preferential access to education, employment, health care, social welfare, etc.
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agile: Apt or ready to move; nimble; active.
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agribusiness: Big business connected to agriculture, either owning or operating large scale farms, or catering to those who do.
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ambiguity: The state of being unclear or unable to measure.
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amortization: The reduction of loan principle over a series of payments.
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analytics: The derivation, interpretation, and expression of patterns within data sets.
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apprenticeship: The system by which a person learning a craft or trade is instructed by a master for a set time under set conditions.
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arbitrage: Any market activity in which a commodity is bought and then sold quickly, for a profit which substantially exceeds the transaction cost
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arbitration: In general, a form of justice where both parties designate a person whose ruling they will accept formally. More specifically in Market Anarchist (market anarchy) theory, arbitration designates the process by which two agencies pre-negotiate a set of common rules in anticipation of cases where a customer from each agency is involved in a dispute.
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balance sheet: A summary of a person's or organization's assets, liabilities and equity as of a specific date.
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bankruptcy: A legally declared or recognized condition of insolvency of a person or organization.
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currency: In economics, currency is a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply.
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customer relationship management: Customer relationship management (CRM) is a widely implemented model for managing a company's interactions with customers, clients and sales prospects.
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database: a collection of information in a regular structure, usually, but not necessarily in a machine-readable format accessible by a computer
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debt financing: funding obtained by borrowing assets
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debt: Money that one person or entity owes or is required to pay to another, generally as a result of a loan or other financial transaction.
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decentralized: A structure where business units operate autonomously and have greater decision-making power.
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decentralized: Diffuse; having no center or several centers.
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decentralized: Dispersed rather than concentrated in a single, central location or authority.
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floating exchange rate: A floating or fluctuating exchange rate is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market.
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forecast: An estimation of a future condition.
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foreclosures: Following a default on credit, the lending party is allowed to recapture the capital by repossessing assets (such as the property the money was borrowed to purchase).
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grievance arbitration: Provides a method for resolving disputes over the interpretation and application of a collective bargaining agreement.
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grievance: A wrong or hardship suffered, which is the grounds of a complaint.
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groupware: software designed to be used collaboratively by multiple users on a network
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hacking: Unauthorized attempts to bypass the security mechanisms of an information system or network. See also cracker.
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interest arbitration: Provides a method for resolving disputes about the terms to be included in a new contract when the parties are unable to agree
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intermediaries: Organizations that act as a provider of a specific function or service for other organizations. A third-party that acts as a go-between in a given transaction
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internal equity: Internal equity is the idea of compensating employees in similar jobs in a similar way
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markups: Markup is the difference between the cost of a good or service and its selling price. A markup is added on to the total cost incurred by the producer of a good or service in order to create a profit.
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materiality: The state of being consequential in the making of a decision.
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matrix: Matrix management is a type of organizational management in which people with similar skills are pooled for work assignments.
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maturity date: the time of the final payment of a loan or other financial instrument, at which point the principal (and all remaining interest) is due to be paid
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mechanistic organization: A bureaucratic structure.
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medium of exchange: An intermediary used in trade to avoid the inconveniences of a pure barter system, such as money
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merchant wholesaler: an entity that purchases products, takes title of them, and then sells them (generally to retailers, other wholesalers, and industrial consumers)
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merit: Something worthy of a high rating.
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metadata: Data that describes other data, serving as an informative label.
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middle management: company employees that are accountable for controlling and overseeing a department
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minimum viable product: The minimum viable product is a product stripped down to it's most basic, necessary features in order to get that product into the consumer's hands in the quickest, most affordable way.
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minimum wage: The lowest rate at which an employer can legally pay an employee; usually expressed as pay per hour.
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minority interest: In accounting, minority interest (or non-controlling interest) is the portion of a subsidiary corporation's stock that is not owned by the parent corporation.
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mission: A set of tasks that fulfills a purpose or duty; an assignment set by an employer.
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modular: Consisting of separate units, especially where each unit performs a specified function and could be replaced by a similar unit for the same function, independently of other units
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monetary base: The monetary base s a term relating to (but not being equivalent to) the money supply; the amount of money in the economy. The monetary base is highly liquid money that consists of coins, paper money (both as bank vault cash and as currency circulating in the public), and commercial banks' reserves with the central bank.
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money supply: The total amount of money available in an economy at a specific time.
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money: a generally accepted means of exchange and measure of value
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monopoly union model: This model states that the monopoly union has the power to maximize the wage rate; the firm then chooses the level of employment.
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morale: The capacity of people to maintain belief in an institution or a goal, or even in oneself and others.
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motivate: To provide someone with an incentive to do something; to encourage.
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motivation: Willingness of action, especially in behavior.
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network: Any interconnected group or system
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network: Any interconnected group or system.
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nonexempt: Nonexempt employees are entitled to overtime pay.
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organizing: the management function of forming patterns of relationships among workers, and making optimum use of the resources required to enable the successful carrying out of plans
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outcomes: The positive and negative consequences that an individual perceives to be a result of his/her actions. Examples include praise, bonuses, and promotions.
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overhead: The expense of a business not directly assigned to goods or services provided.
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overtime: The rate of pay, usually higher, for work done outside of or in addition to regular hours.
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owners' equity: the remaining interest in all assets after all liabilities are paid
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parent company: An entity that owns or controls another entity.
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partnership: A partnership is a form of business in which two or more people operate for the common goal of making profit. Each partner has total and unlimited personal liability of the debts incurred by the partnership.
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patent: A declaration issued by a government agency declaring someone the inventor of a new invention and having the privilege of stopping others from making, using or selling the claimed invention; a letter patent.
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pension: A regularly paid gratuity paid regularly as benefit due to a person in consideration of past services; notably to one retired from service, on account of retirement age, disability or similar cause; especially, a regular stipend paid by a government to retired public officers, disabled soldiers; sometimes passed on to the heirs, or even specifically for them, as to the families of soldiers killed in service.
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pension: An annuity paid regularly as benefit due to a retired employee, serviceman etc. in consideration of past services, originally and chiefly by a government but also by various private pension schemes.
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performance appraisal: a method by which how well an employee did a job is evaluated
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performance appraisals: Employees have set objectives and milestones, and performance can be assessed via comparing actual outcomes to desired outcomes.
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perishable: A good that has an expiration date, or can go bad.
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perquisite: Any monetary or other incidental benefit beyond salary.
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perseverance: Continuing in a course of action without regard to discouragement, opposition, or previous failure.
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personal selling: the use of individual interaction with the potential customer to convince them to purchase a product
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security: The condition of not being threatened, especially physically, psychologically, emotionally, or financially.
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segregation: Passing of laws to separate people geographically, residentially, racially, religiously or by gender.
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self-efficacy: the measure of the belief in one's own ability to complete tasks and reach goals
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seniority: A measure of the amount of time a person has been a member of an organization, as compared to other members, and with an eye towards awarding privileges to those who have been members longer.
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server: A computer or a program which provides services to other programs or users, either in the same computer or over a computer network.
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service provider: An organization that operates in areas such as finance, real estate, or buying products from a wholesaler and reselling them to consumers, but does not make tangible goods.
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sexual harassment: bullying or coercion of a sexual nature, or the unwelcome or inappropriate promise of rewards in exchange for sexual favors.
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shareholders' equity: The remaining interest in assets of a company, spread among individual shareholders of common or preferred stock.
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silo: In business, a unit or department within which communication and collaboration occurs vertically, with limited cooperation outside the unit.
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turnover: In a human resources context, turnover or staff turnover or labor turnover is the rate at which an employer gains and loses employees.
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unions: Legal groups of professionals in a given field who collectively address common issues within that discipline.
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unit of account: a standard monetary unit of measurement of value/cost of goods, services, or assets.
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unsecured debt: Unsecured debt comprises financial obligations, where creditors do not have recourse to the assets of the borrower to satisfy their claims.
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value: The degree of importance you give to something.
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variable cost: the amount of resources used that changes with the change in volume of activity of an organization
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venture capital: money invested in an innovative enterprise in which both the potential for profit and the risk of loss are considerable.
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virtual office: A virtual office is a combination of off-site live communication and address services that allow users to reduce traditional office costs while maintaining business professionalism. Frequently the term is confused with "office business centers" or "executive suites" which demand a conventional lease whereas a true virtual office does not require that expense.
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vision: An ideal or a goal toward which one aspires.
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volition: The mental power or ability of choosing; the will.
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wage: An amount of money paid to a worker for a specified quantity of work, usually expressed on an hourly basis.
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. robocalling: a form of voice broadcasting which is most frequently associated with political messages.
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10K: An annual report, required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive summary of a public company's performance.
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10Q: A quarterly report mandated by the United States federal Securities and Exchange Commission to be filed by publicly traded corporations.
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401(k): 401(k) are "defined contribution plans" with annual contributions limited (currently to $17,000). Contributions are "tax-deferred" in that they are deducted from paychecks before taxes and then taxed when a withdrawal is made from the 401(k) account. Depending on the employer's program, a portion of the employee's contribution may be matched by the employer.
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403 (b): A U.S. tax-advantaged retirement savings plan available for public education organizations, some non-profit employers, cooperative hospital service organizations, and self-employed ministers in the United States. It has tax treatment similar to a 401(k) plan.
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Accounting Equation: The "basic accounting equation" is the foundation for the double-entry bookkeeping system. For each transaction, the total debits equal the total credits.
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Agile software development: A group of software development methods based on iterative and incremental development, where requirements and solutions evolve through collaboration between self-organizing, cross-functional teams. The basic idea behind the agile method is to develop a system through repeated cycles (iterative) and in smaller portions at a time (incremental), allowing software developers to take advantage of what was learned during development of earlier parts or versions of the system.
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American Federation of Labor: The American Federation of Labor (AFL) was one of the first federations of labor unions in the United States. It was founded in Columbus, Ohio in December 1886 by an alliance of craft unions disaffected from the Knights of Labor, a national labor association.
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Auto ID Data Capture (AIDC): Warehouse management systems often utilize AIDC technology, such as barcode scanners, mobile computers, wireless LANs and potentially radio-frequency identification (RFID) to efficiently monitor the flow of products.
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Backward scheduling: Backward scheduling is planning the tasks from the due date or required-by date to determine the start date and/or any changes in capacity required.
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Barriers to entry: One of Porter's five forces; these are the financial and nonfinancial obstacles for new entrants to entering a given industry.
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Bootstrapping: Financial bootstrapping is a term used to cover different methods when someone wants to avoid using the financial resources of external investors. The use of private credit card debt is the most known form of bootstrapping, but a wide variety of methods are available for entrepreneurs. While bootstrapping involves a risk for the founders, the absence of any other stakeholder gives the founders more freedom to develop the company.
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Brand Equity: the value of having a well-known name, logo, or other identifier
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Brand categories: A generic classification of products or services.
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Bretton Woods System: The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid-20th century. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states
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CIO: Congress of Industrial Organizations, a former United States trade union federation (also known as the Committee of Industrial Organization) that merged with the American Federation of Labor to form the AFL-CIO in 1955
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CMOS: Complementary metal-oxide-semiconductor (CMOS) is technology for constructing integrated circuits. CMOS technology is used in microprocessors, microncontrollers, static RAM and other digital logic circuits.
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CPU: The main computer case containing the central components of a personal computer.
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CRM: An acronym that stands for Customer Relationship Management, or the process of interacting with past, present, and future consumers.
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Cargo: (or freight) is goods or produce transported, generally for commercial gain, by ship, aircraft, intermodal train, van, or truck. In modern times, containers are used in most intermodal freight transport.
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Check-clearing: The movement of a check from the depository institution at which it was deposited back to the institution on which it was written; the movement of funds in the opposite direction and the corresponding credit and debit to the accounts involved.
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Collaboration: Working together to achieve a common goal.
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Collaborative software: Computer software designed to help people involved in a common task achieve goals.
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Commission: A percentage fee for the salesman on the sale of a product or service.
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Common stock: Shares of an ownership interest in the equity of a corporation or other entity with limited liability entitled to dividends, with financial rights junior to preferred stock and liabilities.
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Competition: Competition in biology, ecology, and sociology, is a contest between organisms, animals, individuals, groups, etc., for territory, a niche, or a location of resources, for resources and goods, for prestige, recognition, awards, mates, or group or social status, for leadership; it is the opposite of cooperation.
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Cost of Goods Sold: Cost of goods sold (COGS) refer to the inventory costs of those goods a business has sold during a particular period.
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Cross-training: Cross-training in business operations involves training employees to engage in quality control measures. Employees are trained in tangent job functions to increase oversight in ways that are impossible through management interactions with workers alone.
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Demographic: Of or related to the study of human populations, and how they change.
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Department of Labor: The United States Department of Labor (DOL) is a Cabinet department of the United States government responsible for occupational safety, wage and hour standards, unemployment insurance benefits, re-employment services, and some economic statistics; many U.S. states also have such departments.
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Direct selling: Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location.
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Dismissal: Dismissal is where the employer chooses to require the employee to leave, generally for a reason which is the fault of the employee. The most common colloquial term for dismissal in America is "getting fired" whereas in Britain the term "getting the sack" is used.
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Diversity A variety; the quality of being different
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Encryption: A method of scrambling and unscrambling information to protect it during digital transmission (in the context of email).
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Evaluation: An assessment, such as an annual personnel performance review, used as the basis for a salary increase or bonus, or a summary of a particular situation.
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Executive Summary: The executive summary is a snapshot of your business plan as a whole and touches on your company profile and goals.
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FDIC: The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation operating as an independent agency that provides deposit insurance, which guarantees the safety of deposits in member banks, up to $250,000 per depositor per bank.
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Fair Labor Standards Act: The FLSA established a national minimum wage, guaranteed "time-and-a-half" for overtime in certain jobs, and prohibited most employment of minors in "oppressive child labor," a term that is defined in the statute. It applies to employees engaged in interstate commerce or employed by an enterprise engaged in commerce or in the production of goods for commerce, unless the employer can claim an exemption from coverage.
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Federal Trade Commission: The Federal Trade Commission (FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act. Its principal mission is the promotion of consumer protection and the elimination and prevention of anti-competitive business practices, such as coercive monopoly.
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Feedback loop: Feedback is a process in which information about the past or the present influences the same phenomenon in the present or future. As part of a chain of cause-and-effect that forms a circuit or loop, the event is said to "feed back" into itself. The feedback loop is the complete causal path that leads from the initial detection of the gap to the subsequent modification of the gap.
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Feedback mechanism: the action or means used to subsequently modify the gap in a feedback loop
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Feedback signal: the measurement of the actual level of the parameter of interest in a feedback loop
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Fiat money: money whose value is not derived from any intrinsic value or guarantee that it can be converted into a valuable commodity (such as gold).
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Financial Projections: The financials provide information on the proposed spending and revenues of the company, typically for the first 3 to 5 years of operation. Again,if funding is required this section details the expected cash flows and other critical financial projections to allow potential investors to understand the risks and returns they can expect
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Financial statements: Standardized documents that include the financial information of a person, company, government, or organization; this information is used to make financial decisions.
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Finished goods: Goods ready for sale to customers.
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Firewall: A gateway between the internet and a local network, allowing or denying access based upon protocols.
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Focus Group: A group of people, sampled from a larger population, interviewed in open session for market research or political analysis
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Forward scheduling: Forward scheduling is planning the tasks from the date resources become available to determine the shipping date or the due date.
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GAAP: Generally Accepted Accounting Principles (GAAP) refer to the standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards.
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Governmental accounting: Governmental accounting is an umbrella term which refers to the various accounting systems used by various public sector entities.
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Homogeneous: Having a uniform makeup; having the same composition throughout.
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IFRS: International Financial Reporting Standards (IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries.
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ISO 14000: a set of standards related to environmental management designed to help organizations reduce the negative environmental effect of their operations, meet legal requirements, and continually improve
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ISO 9000: a set of standards related to quality management systems and designed to help organizations ensure that they meet the needs of customers and other stakeholders while meeting statutory and regulatory requirements related to the product
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ISO 9001:2008: The ISO 9000 family of standards are related to quality management systems and designed to help organizations ensure that they meet the needs of customers and other stakeholders while meeting statutory and regulatory requirements related to the product.
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Individual Retirement Account: An Individual Retirement Arrangement (IRA) is a form of retirement plan that provides tax advantages for retirement savings in the United States. The term encompasses an individual retirement account; a trust or custodial account set up for the exclusive benefit of taxpayers or their beneficiaries; and an individual retirement annuity, by which the taxpayers purchase an annuity contract or an endowment contract from a life insurance company
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Industrial Revolution: The major technological, socioeconomic, and cultural change in the late 18th and early 19th century, resulting from the replacement of an economy based on manual labor to one dominated by industry and machine manufacture
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Inputs: Each participant's contributions that are viewed as entitling him/her to rewards or costs. Examples include time, effort, and loyalty.
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Intangibility: The state of not being touchable. For example, an idea is real, but not tangible.
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International Accounting Standards Board: The independent, accounting standard-setting body of the International Financial Reporting Standards Foundation.
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International Financial Reporting Standards: International accounting standards that provide a common global language for business affairs, so that company accounts are understandable and comparable across international boundaries.
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Journal entries: A journal entry, in accounting, is a logging of transactions into accounting journal items. The journal entry can consist of several items, each of which is either a debit or a credit.
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Labor Management Relations Act: The official name of the Taft-Hartley Act
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London Interbank Offered Rate: the average interest rate estimated by leading financial instiutions in London that they would be charged if borrowing from others
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Market Concept: the generation of appropriate market intelligence pertaining to current and future customer needs, and the relative abilities of competitive entities to satisfy these needs; the integration and dissemination of such intelligence across departments; and the coordinated design and execution of the organization's strategic response to market opportunities.
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Market Orientation: implementation of the marketing concept, which is a particular business philosophy.
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Market Share: Percentage of some market held by a company
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Market Share: Percentage of some market held by a company.
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Market Share: The percentage amount of a market captured by a single firm
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Marketing Concept: a business philosophy that holds that long term profitability is best achieved by focusing the coordinated activities of the organization toward satisfying the needs of a particular market segment(s).
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Marketing Research: the systematic collection and evaluation of data regarding customers' preferences for actual and potential products and services
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Material Handling System (MHS): A fundamental part of a flexible manufacturing system, since it interconnects the different processes supplying and taking out raw material, workpieces, subproducts, parts, and final products.
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Revenue optimization: A method of finding the best possible combination of output and price level to give the most possible revenue.
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NPS surveys: Management tools that can be used to gauge the loyalty of a firm's customer relationships. It serves as an alternative to traditional customer satisfaction research and claims to be correlated with revenue growth.
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National Labor Relations Act: An act to diminish the causes of labor disputes burdening or obstructing interstate and foreign commerce, to create a National Labor Relations Board, and for other purposes.
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Need Hierarchy: Abraham Maslow's theory created in 1943 that postulates that needs can be categorized into the following 5 categories which are the basis for human motivations: Physiological, Safety, Belongingness and Love, Esteem, and Self-Actualization
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On-boarding: A series of activities designed to train new employees and prepare them for integration with the organization and their responsibilities.
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Operations management: An area of management concerned with overseeing, designing, controlling the process of production, and redesigning business operations in the production of goods and/or services.
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Order-takers: Salesperson with responsibility for handling transactions that are initiated by the customer
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Organization for Standardization (ISO): An international standard-setting body composed of representatives from various national standards organizations. Founded on February 23, 1947, the organization promulgates worldwide proprietary, industrial, and commercial standards.
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Penetration pricing: The introductory stage of a new product's life cycle means accepting a lower profit margin and to price relatively low. Such a strategy should generate greater sales and establish the new product in the market more quickly.
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Phillips curve: In economics, the Phillips curve is a historical inverse relationship between the rate of unemployment and the rate of inflation in an economy. Stated simply, the lower the unemployment in an economy, the higher the rate of inflation. While it has been observed that there is a stable short run tradeoff between unemployment and inflation, this has not been observed in the long run
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Senator Griffin: Robert Paul Griffin (born November 6, 1923) was a U.S. Representative, U.S. Senator from the state of Michigan and Justice of the Michigan Supreme Court.
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Prescriptive: Prescriptive analytics automatically synthesizes big data, mathematical sciences, business rules, and machine learning to make predictions and then suggest decision options to take advantage of the predictions.
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Price premium: The percentage by which a product's selling price exceeds a benchmark price.
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Price skimming: Price skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first, then lowers the price over time. It is a temporal version of price discrimination/yield management.
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Price skimming: This involves the top part of the demand curve. The price is set relatively high to generate a high profit margin, and sales are limited to those buyers willing to pay a premium to get the new product.
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Private debt: Private debt comprises bank-loan type obligations, whether senior or mezzanine
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collective bargaining: A method of negotiation in which employees negotiate as a group with their employers, usually via a trade union
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Tax accounting: The activity that focuses on satisfying legal accounting obligations through the preparation, analysis, and presentation of required tax documentation.
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Promotion: Promotion represents all of the methods of communication that a marketer may use to provide information to different parties about the product. Promotion comprises elements such as: advertising, public relations, personal selling and sales promotion.
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Proposal: A business proposal is a written offer from a seller to a prospective buyer. Business proposals are often a key step in the complex sales process—i.e., whenever a buyer considers more than price in a purchase.
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Psychographic: Based on individual psychological characteristics, rather than demographic or other factors.
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Public relations: Public relations (PR) is the practice of managing the flow of information between an individual or an organization and the public.
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Quality Audit: The process of systematic examination of a quality system carried out by an internal or external quality auditor or audit team. It is an important part of an organization's quality management system and is a key element in the ISO quality system standard, ISO 9001.
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Quality Management System (QMS): The organizational structure, procedures, processes, and resources needed to implement quality management.
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Quality Management: Process of ensuring that an organization or product is consistent. It can be considered to have four main components: quality planning, quality control, quality assurance, and quality improvement. Quality management is focused not only on product/service quality, but also the means to achieve it.
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Retirement: Retirement is the point where a person stops employment completely. A person may also semi-retire by reducing work hours.
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e-commerce: A marketplace for the exchange of goods that exist solely online.
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ROA: The return on assets (ROA) percentage shows how profitable a company's assets are in generating revenue.
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Rational choice theory: Rational choice theory, also known as choice theory or rational action theory, is a framework for understanding and often formally modelling social and economic behavior. Rationality, interpreted as "wanting more rather than less of a good," is widely used as an assumption of the behavior of individuals in microeconomic models and analysis and appears in almost all economics textbook treatments of human decision making.
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SAIF: One of the two FDIC fund between 1989 and 2006, after which it merged with the Bank Insurance Fund to form the Deposit Insurance Fund in 2006
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SWOT Analysis: a structured planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or in a business venture
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Scrum: A management philosophy predicated upon a feedback-driven iterative evolution of process
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Solidarity: A bond of unity between individuals, united around a common goal or against a common enemy, such as the unifying principle that defines the labor movement.
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Stock Keeping Unit (SKU): A unique identifier for each distinct product and service that can be purchased in business.
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Supply Chain Sustainability: An essential component to delivering long-term profitability. It has replaced monetary cost, value, and speed as the dominant topic of discussion among purchasing and supply professionals.
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Supply and demand model: An economic model of price determination in a market.
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Taft-Hartley Act: The Taft-Hartley Act is a United States federal law that monitors the activities and power of labor unions.
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Taylorism: scientific management; a theory of management of the early 20th century that analyzed workflows in order to improve efficiency
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Teamsters Union: The International Brotherhood of Teamsters (IBT) is a labor union in the United States and Canada. Formed in 1903 by the merger of several local and regional locals of teamsters, the union now represents a diverse membership of blue-collar and professional workers in both the public and private sectors.
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The Knights of Labor: The Knights of Labor (K of L) (officially "Noble and Holy Order of the Knights of Labor") was the largest and one of the most important American labor organizations of the 1880s
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Total Quality Management (TQM): A strategic approach to management aimed at embedding awareness of quality in all organizational processes.
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Warehouse management: The progress of products through the warehouse. It involves the physical warehouse infrastructure, tracking systems, and communication between product stations.
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World Wide Web: Collectively, all of the web pages on the Internet which hyperlink to each other and to other kinds of documents and media.
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Work in process: Materials and components that have began their transformation to finished goods
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absenteeism: The practice of missing days of work.
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accountability: Responsible or answerable for; ownership of the consequences.
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accounting: The process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information. (definition by the American Accounting Association)
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artificial intelligence: The branch of computer science dealing with the reproduction or mimicking of human-level intelligence, self-awareness, knowledge, conscience, thought in computer programs.
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assessment: An appraisal or evaluation.
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autonomy: The ability to function independently; the freedom to make independent decisions.
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schema: An outline or image universally applicable to a general conception, under which it is likely to be presented to the mind.
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benchmark: A standard by which something is evaluated or measured.
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best practices: The specific professional activities that produce near optimal results.
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board of directors: A group of people, elected by stockholders, to establish corporate policies, and make management decisions.
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boycott: To abstain, either as an individual or group, from using, buying, or dealing with someone or some organization as an expression of protest.
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brainstorming: A method of problem solving in which members of a group contribute ideas spontaneously.
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brand: A name, symbol, logo, or other item used to distinguish a product, service, or its provider.
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brokers: A mediator between a buyer and seller.
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budget: An itemized summary of intended expenditure; usually coupled with expected revenue
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business model: The particular way in which a business organization ensures that it generates income, one that includes the choice of offerings, strategies, infrastructure, organizational structures, trading practices, and operational processes and policies.
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business plan: a summary of how a venture owner, manager, or entrepreneur intends to organize an entrepreneurial endeavor and implement activities necessary and sufficient for the venture to succeed
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secondary data: information collected by someone other than the user of the data
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calendar year: The amount of time between corresponding dates in adjacent years in any calendar.
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candidate: A person who applies to a job position.
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capital surplus: A balance sheet item under shareholders' equity. Increases by the value above an original par value per share that newly-issued shares are sold for.
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centralization: The act or process of combining or reducing several parts into a whole.
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channels of distribution: Distribution of products takes place by means of channels. Channels are sets of interdependent organisations (called intermediaries) involved in making the product available for consumption.
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cherry-picking: To pick only a part of the whole truth, often in order to support an opinion or personal agenda. In analysis, it is seeing what one wants to see in the data (as opposed to what's there).
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chief executive officer: The highest-ranking corporate officer or executive officer of a corporation, company, or agency, responsible for carrying out the policies of the board of directors on a day-to-day basis; CEO.
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childcare: The act or practice of taking care of children
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closing: A sales term which refers to the process of making a sale
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cloud: Regarded as an amorphous omnipresent space for processing and storage on the Internet; the focus of cloud computing.
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cognitive dissonance: a conflict or anxiety resulting from inconsistencies between one's beliefs and one's actions or other beliefs
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cognitive: the part of mental function that deals with logic, as opposed to affective which deals with emotions
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collateral: A security or guarantee (usually an asset) pledged for the repayment of a loan if one cannot procure enough funds to repay. (Originally supplied as "accompanying" security. )
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collective bargaining agreement: A collective agreement or collective bargaining agreement (CBA) is an agreement between employers and employees which regulates the terms and conditions of employees in their workplace, their duties, and the duties of the employer. It is usually the result of a process of collective bargaining between an employer (or a number of employers) and a trade union representing workers.
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commodity money: money whose value comes from a commodity of which it is made. It is objects that have value in themselves as well as for use as money.
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common law: A precedent or policy developed by judges through decisions of courts and similar tribunals.
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communities of practice: Approach to professional development by engaging in shared inquiry and learning with people who have a common goal.
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competitive-based pricing: Competitive-based pricing occurs when a company sets a price for its good based on what competitors are selling a similar product for.
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conceptual skill: the ability to formulate ideas
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conceptual: Of, or relating to concepts or mental conception; existing in the imagination.
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contingency planning: the process of forming an alternative set of actions in case the original set of intended actions fails
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contingent worker: a provisional group of employees who work for an organization on a non-permanent basis
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corporate finance: Corporate finance is the area of finance dealing with monetary decisions that business enterprises make and the tools and analysis used to make these decisions.
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corporate image: A corporate image refers to how a business is perceived. It is a generally accepted notion or image of what a company stands for.
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cost center: A division or project of an organization to which costs can be specifically allocated.
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coupon: Any interest payment made or due on a bond, debenture or similar (no longer by a physical coupon).
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creativity: The quality or ability to create or invent something.
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credit union: A financial cooperative similar to a bank but owned and controlled by its members, often restricted to a local area or sometimes to a single profession.
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creditor: A person to whom a debt is owed.
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customer relationship management: Customer relationship management (CRM) is a widely implemented model for managing a company's interactions with customers, clients, and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service, and technical support.
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customer retention: The act of keeping customers consistently consuming products offered by an organization.
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demand curve: An economic model showing the quantity demanded at various price levels
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demand-oriented pricing: A pricing model focused on the nature of the demand curve for the product or service being priced.
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demotivation: Feeling or state of being unmotivated or demotivated.
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departmentalization: The organization of something into groups according to function, geographic location, etc.
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dependent: An individual who an employee supports financially, often a spouse or a child.
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depreciation: The measurement of the decline in value of assets. Not to be confused with impairment, which is the measurement of the unplanned, extraordinary decline in value of assets.
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derivative: A financial instrument whose value depends on the valuation of an underlying asset; such as a warrant or an option.
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derivatives: In finance, this is an investment option defined as being valued via the variable valuation of another asset.
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design: To plan and carry out (a picture, work of art, construction etc. ).
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differentiation: A strategy focused on creating a unique product for a particular population
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direct method: A method of cash flow accounting that records all cash inflows and outflows. It does not take non-cash item valuations into account.
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disaggregation: A division or breaking up into constituent parts, particularly categories which have been lumped together.
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discrimination: (sometimes discrimination against) distinct treatment of an individual or group to their disadvantage; treatment or consideration based on class or category rather than individual merit; partiality; prejudice; bigotry.
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diversification: A corporate strategy in which a company acquires or establishes a business other than that of its current product
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division: A section of a large company.
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double-entry bookkeeping: A method of bookkeeping in which each transaction must have at least one debit and one credit.
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economies of scale: Processes in which an increase in quantity will result in a decrease in average cost of production (per unit).
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economies of scale: The characteristics of a production process in which an increase in the scale of the firm causes a decrease in the long-run average cost of each unit.
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economies of scope: Strategies of incorporating a wider variety of products or services to capture value through the ways in which they interact or overlap.
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efficient bargaining model: The efficient bargaining model sees the union and the firm bargaining over both wages and employment (or, more realistically, hours of work).
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electronic commerce: Electronic commerce, commonly known as e-commerce, is the buying and selling of products or services over electronic systems such as the Internet and other computer networks.
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empowerment: The accessing and employing of political, social, or economic power by an individual or group.
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engagement: In marketing, this is the degree to which individuals follow, discuss, comment on, and participate with a brand.
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entrepreneur: A person who organizes and operates a business venture and assumes much of the associated risk.
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entrepreneurship: The art or science of innovation and risk-taking for profit in business.
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fixed exchange rate: Sometimes called a pegged exchange rate, a type of exchange rate regime wherein a currency's value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold.
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flexitime: An arrangement that allows employees to set their own working hours within agreed limits; normally must include certain periods (core time) when they must be at work.
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equity financing: funding obtained through the sale of ownership interests in the company
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equity theory: an attempt to explain relational satisfaction in terms of perceptions of fair or unfair distributions of resources within interpersonal relationships
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equity: Ownership interest in a company as determined by subtracting liabilities from assets.
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esteem: to regard someone with respect.
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exchange rate: An exchange rate between two currencies is the rate at which one currency will be exchanged for another.
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exempt: Not entitled to overtime pay when working overtime.
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expenditures: Costs to be paid out. From an accounting perspective, these are credited costs on a given line item.
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expense: A spending or consuming. Often specifically an act of disbursing or spending funds.
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facilities layout: Facility layout is simply the way a facility is arranged in order to maximize processes that are not only efficient but effective towards the overall organizational goal.
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featherbedding: The employment of more workers than is necessary because of union rules, especially upon the introduction of new technology
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fiduciary: Related to trusts and trustees.
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financial accounting: Accounting that focuses on preparation of stakeholder documents (particularly for publicly traded companies) and collecting data on past operational performance.
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financial leverage: The degree to which an investor or business is utilizing borrowed money.
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franchising: Franchising is the practice of using another firm's successful business model.
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freebie: Something which is free; a giveaway or handout.
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functional: A structure that consists of activities such as coordination, supervision, and task allocation.
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generally accepted accounting principles: The standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing, and in the preparation of financial statements.
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geothermal: Pertaining to heat energy extracted from reservoirs in the earth's interior.
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goal: a result that one is attempting to achieve
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goods-producers: An company that makes and sells some sort of physical product or material.
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goodwill: The value of a business entity not directly attributable to its tangible assets and liabilities. This value derives from factors such as consumer loyalty to the brand.
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governance: Accountability for consistent and cohesive policies, processes, and decision rights.
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grading: the process of classification of products into different categories on the basis of quality, size etc.
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heuristics: A mental shortcut that may not always yield desired results.
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hierarchical: Classified or arranged according to various criteria into successive ranks or grades
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homogeneous: Having the same composition throughout
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human capital: Human capital is the stock of competencies, knowledge, and social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value. It is an aggregate economic view of the human being acting within economies, which is an attempt to capture the social, biological, cultural, and psychological complexity as they interact in explicit and/or economic transactions.
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human resource management: The process of hiring and developing employees so that they become more valuable to the organization.
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hypervisor: A software or firmware system that provides a virtual machine and allows it to operate directly on underlying hardware (instead of via emulation), but within specified constraints
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idea screening: the process of testing concepts and eliminating unsound ones
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identity theft: The deliberate assumption of another person's identity, usually to gain access to that person's finances or to frame a person for a crime.
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income statement: a calculation which shows the profit or loss of an accounting unit during a specific period of time, providing a summary of how the profit or loss is calculated from gross revenue and expenses
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independent contractor: A person working independently, under a contract; a self-employed person.
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indirect method: A method of cash flow accounting that takes into account everything the direct method measures, with the addition of non-cash item valuation.
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industrial action: In a workplace, a strike or other protest by workers.
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injunction: A writ or process, granted by a court of equity, and, in some cases, under statutes, by a court of law, whereby a party is required to do or to refrain from doing certain acts, according to the exigency of the writ.
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innovation: The creation of better or more effective products, processes, services, technologies, or ideas that are not readily available but will soon be.
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intangible asset: Any valuable property of a business that is not does not appear on the balance sheet, including intellectual property, customer lists, and goodwill.
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quota: a restriction on the import of something to a specific quantity.
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iterate: Repeating processes in order to identify and incorporate improvements.
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iteration: The process of repeating a process in pursuit of incremental improvement.
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job analysis: Job analysis is the formal process of identifying the content of a job in terms of activities involved and attributes needed to perform the work.
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job description: an outline of the description of the tasks and responsibilities in a post within an organization
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job evaluation: Job evaluation is a systematic way of determining the value or worth of a job in relation to other jobs in an organisation. It tries to make a systematic comparison between jobs to assess their relative worth for the purpose of establishing a rational pay structure.
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job sharing: Job sharing is an employment arrangement where typically two people are retained on a part-time or reduced-time basis to perform a job normally fulfilled by one person working full-time.
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job specification: the criteria required to be filled by an employee
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jurisdictional strike: A concerted refusal to work undertaken by a union to assert its members' right to particular job assignments and to protest the assignment of disputed work to members of another union or to unorganized workers.
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knowledge base: A database designed to meet the complex storage and retrieval requirements of computerized knowledge management, especially in support of artificial intelligence or expert systems.
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labor union: A continuous association of wage-earners for the purpose of maintaining or improving the conditions of their employment; a trade union.
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landing page: A web page at which a user first arrives at a website
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lead: To provide direction and influence.
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leadership: The capacity of someone to lead.
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leading: the management function of determining what must be done in a situation and getting others to do it
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learning curve: An experience or graphic representation of progress in learning measured against the time required to achieve mastery of something.
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leverage: To use in such a way to capture maximum value.
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life cycle: The useful life of a product or system; the developmental history of an individual or group in society.
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life cycle: The useful life of a product or system; the developmental history of an individual, group or entity.
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line consistency: how closely related the products that make up the line are.
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line depth: the number of subcategories a product category has.
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line vulnerability: the percentage of sales or profits that are derived from only a few products in the line.
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liquidity ratio: total cash and equivalents divided by short-term borrowings
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liquidity: An asset's ability to become solvent without affecting its value; the degree to which it can be easily converted into cash.
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loyalty: In business, this is a customer's propensity to buy from the same organization again as a result of a meaningful brand relationship.
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malware: Software which has been designed to operate in a malicious, undesirable manner.
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manage: To handle or control a situation or job
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management development: the process by which company employees responsible for overseeing departments or the whole company learn and improve their skills not only to benefit themselves but also their employing organizations
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manager: A person whose job is to manage something, such as a business, a restaurant, or a sports team.
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managerial accounting: Accounting that combines strategic decision-making with accounting knowledge through providing specific tools to measure the financial implications of various internal activities.
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margin: A permissible difference; allowing some freedom to move within limits.
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market analysis: Provides the specific industry, market, and competitive analysis information needed to understand where and how the company is positioned in the overall market.
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marketing mix: The marketing mix is a business tool used in marketing products. The marketing mix is often crucial when determining a product or brand's unique selling point and is often synonymous with the four Ps: price, product, promotion, and place
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marketing mix: The marketing mix is a business tool used in marketing products. The marketing mix is often crucial when determining a product or brand's unique selling point and is often synonymous with the four Ps: price, product, promotion, and place.
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notional: Speculative, theoretical, not the result of research.
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off-the-job training: Training that takes place away from normal work situations, and tends to be more effective in inculcating concepts and ideas.
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oligopoly: an economic condition in which a small number of sellers exert control over the market of a commodity
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on-the-job training: Training that takes place in regular working situations using actual tools and equipment that trainees will use when fully trained.
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open market operations: An open market operation (also known as OMO) is an activity by a central bank to buy or sell government bonds on the open market. A central bank uses them as the primary means of implementing monetary policy.
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open-book management: A management phrase coined by John Case of Inc. magazine, who began using the term in 1993 (Aggarwal & Simkins, 2001). The basis of OBM is that the information received by employees should not only help them do their jobs effectively, but help them understand how the company is doing as a whole (Kidwell & Scherer, 2001). The technique is to give employees all relevant financial information about the company so they can make better decisions as workers. This information includes, but is not limited to, revenue, profit, cost of goods, cash flow and expenses.
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operation: The method or practice by which actions are done.
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opportunity costs: The overall cost of something missed; through deciding to do 'A', an individual or organization incurs the opportunity cost of doing 'B'.
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organigraph: Organigraphs expose critical associations and competitive opportunities as opposed to viewing all parties, departments, and business units as separate entities. They also reveal relationships between departments, products, supply chains, and more within an organization that might not otherwise be apparent
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organization chart: A graphic display of reporting relationships in an organization, sometimes displaying position titles and position holders.
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organization chart: A graphic display of reporting relationships, which sometimes displays position titles and position holders.
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organizational chart: A chart outlining the structure of an organization and the way in which the different roles, functions, and departments interact with one another.
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organizational culture: Organizational culture is the collective behavior of humans who are part of an organization and the meanings that the people attach to their actions.
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organizational learning: In Organizational development (OD), learning is a characteristic of an adaptive organization, i.e., an organization that is able to sense changes in signals from its environment (both internal and external) and adapt accordingly.
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organizational psychologist: A person who conducts scientific study of employees and workplaces.
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phishing: The act of sending email that falsely claims to be from a legitimate organization. This is usually combined with a threat or request for information. For example, it may claim that an account will close, a balance is due, or information is missing from an account. The email will ask the recipient to supply confidential information, such as bank account details, PINs or passwords; these details are then used by the owners of the website to conduct fraud.
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picket line: The boundary created by striking workers, generally at the workplace entrance, which other workers are asked not to pass.
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planning: The act of formulating a course of action, or of drawing up plans.
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poka-yoke: A methodology of using low-cost techniques to error-proof production processes.
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potential: currently unrealized ability
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prestige: The quality of how good the reputation of something or someone is.
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price: The price is the amount a customer pays for the product.
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primary data: information collected by the investigator conducting the research
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product differentiation: perceived differences between the product of one firm and that of its rivals so that some customers value it more
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product life cycle: the stages that a good or service goes through from when it is first introduced to when it is taken off the market
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product line: a series of several related goods or services for sale as individual units
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product mix: the number of different categories and lines of goods or services offered by a company
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product placement: a form of advertising where a brand, good, or service is placed in the media, for money
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product: Any tangible or intangible good or service that is a result of a process and that is intended for delivery to a customer or end user.
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profitability: The capacity to make a profit.
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project manager: one who manages projects.
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pull strategy: communication not demanded by the buyer
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push strategy: communication demanded by the buyer
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quality control: A control, such as inspection or testing, introduced into an industrial or business process to ensure quality.
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rate of return: Rate of return (ROR), also known as return on investment (ROI), rate of profit or sometimes just return, is the ratio of money gained or lost (whether realized or unrealized) on an investment relative to the amount of money invested.
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ratio: The relative magnitudes of two quantities (usually expressed as a quotient).
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raw materials: Materials and components scheduled for use in making a product.
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recruiter: One who recruits, particularly one employed to recruit others
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reflective supervision: A method of professional development which aims to support, develop, and ultimately evaluate the performance of employees through a process of inquiry that encourages their understanding and articulation of the rationale for their own practices.
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reinforcement: The process of repeating a behavior with desirable consequences.
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relational database: A database consisting of separate tables, having explicitly defined relationships, and whose elements may be selectively combined as the results of queries.
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remuneration: a payment for work done; wages, salary, emolument
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resource Allocation: Resource allocation is used to assign the available resources in an economic way. It is part of resource management. In project management, resource allocation is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time.
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resource: Something that one uses to achieve an objective. An examples of a resource could be a raw material or an employee
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resource: Something that one uses to achieve an objective. An examples of a resource could be a raw material or an employee.
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restructuring: A reorganization; an alteration of structure.
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retaliation: a sometimes violent response to an act of harm or perceived injustice.
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retention: In general, this is the process of remembering something. In business, however, it refers to the ability of an organization to keep its current customers.
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revenue: the total income received from a given source
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risk aversion: This is a characteristic of individuals who are not comfortable with uncertainty, particularly when capital is on the line
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routing: a method of finding paths from origins to destinations in a network such as the Internet, along which information can be passed
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salary: A fixed amount of money paid to a worker, usually measured on a monthly or annual basis, not hourly, as wages. Implies a degree of professionalism and/or autonomy.
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sales promotion: when media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability
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sample: A part of anything taken or presented for inspection, or shown as evidence of the quality of the whole; a specimen.
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social responsibility: A voluntarily assumed obligation toward the good of society at large as opposed to the self alone.
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solvency: The state of having enough funds or liquid assets to pay all of one's debts; the state of being solvent
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span of control: The number of subordinates a supervisor has.
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specialization: The ability to focus on one specific task, and create an advantage through excelling at this task.
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spyware: Programs that surreptitiously monitor and report the actions of a computer user.
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staff turnover: The relative rate at which an employer gains and loses staff.
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stakeholders: People outside of a company who have a special interest in the company. Some examples are suppliers, customers, and the community.
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standardization: the process of setting certain norms or standards for a product with regard to shape, size, color, quantity, quality, weight etc
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statistical analysis: The process of examining data to draw conclusions or insights, and determine cause-and-effect patterns between events; for example determining the safety and efficacy of new drugs by drawing out a probability as to whether the fact that a patient got better (or worse) was due to the drug or some other (perhaps random) factor.
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status-quo pricing: The practice of pricing goods such that the current market price level is maintained.
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stewardship: The act of caring for or improving with time.
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stimuli: An external force which generates a response or a reaction from something else
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store of value: An asset such as money or gold that is purchased or accepted as payment for goods and services for its ability to purchase other assets in the future without rapidly losing its purchasing power.
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strategy: A plan of action designed specifically to accomplish a given objective or goal. In business, the foundation of how a business accomplishes its objectives.
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strategy: A plan of action intended to accomplish a specific goal.
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strikebreaking: Activity intended to disrupt or end without an agreement a strike by workers.
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subsidiary: A company owned by a parent company or holding company.
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supply chain: A supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer.
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supply chain: A system of organizations, people, technology, activities, information, and resources involved in moving a product or service from the supplier to the customer.
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sustainability: The capacity to support, maintain, or endure.
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synergistic: Cooperative, working together, interacting, mutually stimulating.
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system: A whole composed of relationships among the members.
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systems thinking: The process of understanding how parts influence one another within a whole.
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tabulation: A table displaying data in compact form.
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tactic: A maneuver or action calculated to achieve some end.
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tactical planning: an organization's process of determining how to optimize current resources and operations
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tactics: Operational approaches to pursuing goals.
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tangible asset: Any asset, such as buildings, land, equipment etc., that has physical form.
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tax shelter: A legal structure that reduces tax liability for a person or that person's assets.
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technical assistance: A method of professional development that aims to assist individuals and their organization to improve by offering resources and information, supporting networking and change efforts
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technical skill: the learned capacity or ability to carry out pre-determined results through tools, machines, techniques, crafts, systems, and methods of organization
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telecommute: To work from home, sometimes for part of a working day or week, using a computer connected to one's employer's network or via the Internet.
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telecommute: To work from home, sometimes for part of a working day or week, using a computer connected to the employer's network or via the internet.
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telecommuting: Telecommuting or telework are terms often used interchangeably to refer to a work arrangement in which employees enjoy flexibility in work location and hours. A person who telecommutes is known as a "telecommuter" and a person who teleworks is known as a "teleworker. " Telecommute generally refers to the elimination of the daily commute to a central place of work. Many telecommuters work from home, while others, occasionally also referred to as "nomad workers" or "web commuters" utilize mobile telecommunications technology to work from coffee shops or other locations.
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top management: company employees responsible for controlling and overseeing the entire organization
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total quality management: A strategic approach to management aimed at embedding awareness of quality in all organizational processes.
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toxic: Having a chemical nature that is harmful to health or lethal if consumed or otherwise entering into the body in sufficient quantities.
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transport network: A transport network, or transportation network in American English, is typically a network of roads, streets, pipes, aqueducts, power lines, or nearly any structure which permits either vehicular movement or flow of somecommodity.
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wholesale: The sale of products, often in large quantities, to retailers or other merchants.
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work-life balance: The relative importance of work and personal life to a particular individual.
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workflow: A process and/or procedure in which tasks are completed. It may be defined with a flowchart to define actors, actions, results, decisions, and action paths.
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yellow-dog contracts: An agreement between an employer and an employee in which the employee agrees, as a condition of employment, not to be a member of a labor union. Such contracts were used in the U.S until the 1930s to prevent the formation of unions, most often by permitting employers to take legal action against union organizers.
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yield management: The analysis of qualitative and quantitative information on factors driving demand for a good in order to forecast the most profitable production decisions for a firm.
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yield management: The method of analyzing information to forecast market conditions and implications for the firm