13 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
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 an accounting cost.
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 authority may be ...
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 time. (3) The ...
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 the American ...
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 down to the most ...
job enlargement
Business administration; Business management
Expanding the content of a job to include new responsibilities that will usually require training and the acquisition of new skills.
