Business administration

Business administration

Business management best practices including corporate strategy development, financial management, human resource management, information management, resource planning, marketing and sales.

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Business administration > Business management

opportunity cost

Business administration; Business management

In economics, this refers to the lost income, profit or time involved in forgoing an alternative course of action; that is, this is an economic cost and would not be included as ...

authority

Business administration; Business management

(1) The right, inherent in a job or function, to use power in the fulfilment of one’s responsibilities. Power and authority do not always go together. People in a position of ...

turnover

Business administration; Business management

(1) The amount of sales revenue achieved or business transacted during a given period of time. (2) Loss of people from, and appointments to, the workforce during a given period of ...

direct labour costs

Business administration; Business management

The costs associated with those members of the workforce directly involved in the production of goods and services.

computer program

Business administration; Business management

A set of instructions to a computer, written in a computer language, that tells it to perform a particular task. The spelling of ‘program’ is usually American, in recognition of ...

hierarchical task analysis

Business administration; Business management

A form of task analysis used in assessing training needs, which describes a task in terms of a hierarchy of the operations necessary for its performance, ranging from the broadest ...