Business management

Business management

General business management terms encompassing inventory management, security management, financial administration, business planning, and management services for all enterprise-wide information systems.

Industry: Business administration

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Business management

Pygmalion effect

Business administration; Business management

A form of selffulfilling prophecy in a social setting that was first suggested by the American psychologist Robert Rosenthal. Rosenthal led a number of teachers to believe that certain children in ...

zeitgeist

Business administration; Business management

A German term meaning literally ‘spirit of the times’. It is used to denote the prevailing social and political mood of an era, the conventional wisdom, the fads and fashions in everything from hair ...

store-specific marketing

Business administration; Business management

The ultimate form of geographic segmentation, where a marketing promotion is targeted at individual retail outlets. For example, in supermarket promotions electronic point of sale information is ...

management by objectives

Business administration; Business management

A term proposed by the American management writer peter drucker in the 1950s to emphasize the importance of setting objectives for – and by – each individual member of an organization as well as the ...

enterprise

Business administration; Business management

(1) The willingness to try new initiatives and to accept responsibility and risks. (2) A synonym for a business.

training needs analysis

Business administration; Business management

In theory, this should be the first stage in a training programme; that is, an examination of what training might be required to help improve the working of the organization. There are three ...

Kolb’s learning cycle

Business administration; Business management

A formulation of different ways of learning and of stages in the learning process that is widely used in management training. It was developed by an American psychologist called David Kolb. There are ...