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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

indirect labour costs

Business administration; Business management

The costs associated with those members of the workforce not directly involved in the production of goods and services, but whose labour is essential to the running of the ...

KISS principle

Business administration; Business management

An acronym for Keep It Short and Simple. Kiss is a valuable aid in human communication (but then you knew that already, didn’t you?).

prisoner’s dilemma

Business administration; Business management

A situation developed out of game theory and used in social psychology in the study of bargaining behaviour. In this particular game two suspects are caught by the police and ...

first in, first out

Business administration; Business management

(1) A method of valuing stock or taking inventory in a business organization, where the prices of the oldest items purchased are applied to the entire stock. Items received first ...

last in, first out

Business administration; Business management

(1) A method of valuing stock or taking inventory in which the prices of the newest items purchased are applied to the entire stock. Items received last are then first to be sold. ...

computer terminal

Business administration; Business management

A machine linked to a computer, however remote, and having access to all its data.

inertial marketing

Business administration; Business management

A way of marketing goods and services which relies on the inertia of an existing customer in preferring to leave arrangements unchanged. This is done either by sending unsolicited ...