7 Terms
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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
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 organization; for example, ...
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 questioned separately ...
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 are the first to be ...
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. (2) A method of ...
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 products to people ...
