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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

gentleman’s agreement

Business administration; Business management

A verbal contract which is not legally binding and depends for its implementation on the sense of honor of the ‘gentlemen’ involved. In practice, this kind of agreement often ...

Sigmund Freud

Business administration; Business management

A Viennese neurologist and psychologist (1856–1939). Freud’s work may be divided into three areas: his invention of psychoanalysis as a therapeutic technique, his theory of ...

rational-economic

Business administration; Business management

A view of human nature which argues that people act only to maximize their self-interest. It is based on the philosophy of hedonism and often claims the thought of Adam Smith in ...

production orientation

Business administration; Business management

A view of the marketplace often held by producers when the demand for their product exceeds the supply and consumers are forced to buy what there is rather than what they may ...

trade association

Business administration; Business management

A voluntary grouping of organizations in the same business which combine for mutual benefit; for example, in trying to influence government legislation. See also employers’ ...

Ansoff matrix

Business administration; Business management

A way of classifying the four basic product strategies of marketing developed by Igor Ansoff: (1) market penetration, (2) market extension, (3) product development and (4) ...