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

corporatism

Business administration; Business management

Historically, this refers to the replacement of owners by professional managers in the running of companies. But the term is also widely used to describe collective action by employers’ trade and ...

Sod’s Law

Business administration; Business management

If something can go wrong, it will.

Maier’s Law

Business administration; Business management

If the data do not fit the theory, the data must be disposed of. In other words, if the facts do not fit your preconceived notion then it’s the facts that must be wrong. This was suggested by the ...

Chinese walls

Business administration; Business management

Imaginary barriers to communication which are set up voluntarily between two departments or sets of activities within the same company. The point of the exercise is to protect their clients’ rights ...

sacred cow

Business administration; Business management

In a business organization, this usually refers to a project that may not be closed down, no matter how inefficient or costly it is, for reasons that are not rational. The reference is to the Hindu ...

Peter Principle

Business administration; Business management

In a hierarchy, every employee tends to rise to her or his level of incompetence – and stick there. Laurence Peter, the Canadian educational psychologist, introduced this concept in the 1960s as a ...