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

game theory

Business administration; Business management

A mathematical approach to the study of conflict and decision-making which treats conflict situations as though they were games, with set tactics and strategies and totally rational players. Some of ...

linear program

Business administration; Business management

A mathematical technique used in operational research to help the decision-maker where there is a direct, straight-line relationship between two variables; for example, where the shortest route means ...

assembly line

Business administration; Business management

A means of mass production, based on the ideas of Gilbreth and Taylor, which was invented by Henry Ford in 1913 for his model-T car factory. It quickly became the leading method of producing ...

status symbol

Business administration; Business management

A measure of someone’s status and importance (or sometimes self-importance) in an organization. Favourite status symbols are dress (e.g. ‘white’ collar as opposed to blue) and offices and office ...

cost effectiveness

Business administration; Business management

A measure of the extent to which money has been effectively spent on something. It is found by seeing whether the benefits that have resulted could have been obtained with a lower expenditure. See ...

index linking

Business administration; Business management

A mechanism for offsetting changes in the value of money by making systematic adjustments to payments, such as pensions, in line with changing prices, usually as reflected in the retail price index.

confrontation meeting

Business administration; Business management

A meeting where employees are invited to be completely frank with the management about their concerns. Used in assessing job satisfaction, but not too often.