Business Terms From Glossary

A process where an employee receives feedback from all people they interact with in their job.

Various forms of promotion aimed at mass audiences, like TV and radio ads.

The process of one company taking over another.

A method of dispute resolution where a third party makes binding decisions.

Computers performing tasks associated with intelligent beings.

Leadership where the leader makes decisions without input from subordinates.

Legal process for insolvent companies to restructure or liquidate.

Producing similar items in groups.

Promotion focused on specific segments or groups.

Comparing a company's performance to industry leaders.

Extremely large data sets analyzed for insights.

Degree to which consumers recognize a product.

Process of building brand awareness.

Continued purchase of a brand despite alternatives.

Estimation of a brand's worth.

Organizational structure with multiple layers of authority.

Percentage measure of how much a business uses its productive capacity.

Expenditure for assets with a useful life over one year.

Concentrating decision-making authority at the main office.

Official hierarchy in an organization.

Employees bargaining with management about wages and conditions.

Payment to an employee based on completed sales or services.

Pricing based on competitors' prices.

Dispute resolution methods in collective bargaining.

Price based on variable costs plus markup.

Businesses owned and operated by members who share profits.

Exclusive right for the creator to reproduce their work.

Businesses acting in ways that benefit society and stakeholders.

Department in a company that incurs costs but doesn't generate revenue.

Pricing method adding costs and markup to determine sales price.

Designing products for reuse of materials indefinitely.

Assets convertible to cash in less than one year.

Debts due within one year.

Marketing strategies rewarding repeat customers.

Malicious attacks on electronic systems.

Defending electronic systems from cyberattacks.

Analyzing data for business insights.

Finding trends and patterns in large data sets for predictive analytics.

Systematic set of electronic data files.

Delegating decision-making authority to regional offices.

Percentage measure of product failing quality guidelines.

Removing levels of hierarchy in an organization.

Assigning authority or responsibility to someone lower down the organizational chart.

Leadership style encouraging input from organization members.

Loss of value of a long-term asset over time.

Reduction in per-unit production cost with business growth.

Programs granting employees company shares.

Long-term process of developing employees to make decisions.

Business expansion through external resources like acquisitions.

Costs that do not vary with output or activity.

Continuous employee appraisal for performance improvement.

Business model selling rights to use brand and products to others.

Compensation beyond salary, like insurance or car use.

Small continuous improvements to existing products or processes.

Costs not directly traceable to a specific cost object.

Welcoming new employees and providing company-specific training.

Allowing workers to have a say in company decision-making.

Creating something new with value.

Inability to pay bills or when liabilities exceed assets.

Company's own personnel performing tasks previously outsourced.

Intangible proprietary rights like patents and trademarks.

Business expansion using its own resources.

Interconnected computerized devices transmitting data.

Adding tasks to a job description horizontally in terms of skill.

Adding challenging tasks to a job for professional growth.

Individual production of unique products.

Regularly rotating employees into different positions.

Creation, ownership, and operation of a third organization by two businesses.

Inventory management strategy minimizing stock on hand.

Continuous improvement philosophy encouraging small changes.

Leadership style allowing group decision-making.

Systematic approach to reducing waste in production.

Number of layers of authority in an organization.

Ability to convert assets into cash without loss.

Management action preventing workers from entering premises.

Product sold at a loss to attract customers.

Difference between current sales and break-even sales.

Increase in consumers buying a product or service.

Approach focusing on customer needs and wants.

Percentage of market controlled by a company or product.

Combining mass production with individualized customization.

Market for goods produced in large quantities.

Continuous production of standardized products.

Reporting to more than one person in an organization.

Legal consolidation or purchase of shares between companies.

Small specialized part of a larger market.

Independent non-profit organizations.

Provision in collective bargaining agreement prohibiting strikes.

Business moving operations to another country.

Training provided offsite by an outside party.

Training provided onsite during work hours.

Visual representation showing reporting relationships.

Beliefs, norms, and customs of an organization.

Internal function performed externally.

Business owned and run by two or more persons sharing profits.

Exclusive right to make, use, or sell a product for a specific time.

Leader treats employees like family, expects loyalty.

Initially low price to attract customers for a new product.

Compensation based on individual or unit performance.

Selling at low prices to eliminate competition.