Flashcards: Business terms

Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services.

Procurement is the act of finding, acquiring, buying goods, services or works from an external source, often via a tendering or competitive bidding process.

A corporate tax, also called corporation tax or company tax, is a tax on the income or capital of corporations or analogous legal entities.

Flag of convenience (FOC) is a business practice whereby a merchant ship is registered in a country other than that of the ship's owners, and the ship flies that country's civil ensign.

Chain store(s) or retail chain are retail outlets that share a brand and central management, and usually have standardized business methods and practices.

The critical path method (CPM) is an algorithm for scheduling a set of project activities.

Kanban (看板) (literally signboard or billboard in Japanese) is a scheduling system for lean manufacturing and just-in-time manufacturing (JIT).

Logistics is generally the detailed organization and implementation of a complex operation.

Six Sigma is a set of techniques and tools for process improvement.

Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy.

A back office in most corporations is where tasks dedicated to running the company itself take place.

Total quality management (TQM) consists of organization-wide efforts to install and make permanent a climate in which an organization continuously improves its ability to deliver high-quality products and services to customers.

A sale is the exchange of a commodity or money as the price of a good or a service.

Entrepreneurship has traditionally been defined as the process of designing, launching and running a new business, which typically begins as a small business, such as a startup company, offering a product, process or service for sale or hire.

In trade finance, forfaiting is a financial transaction involving the purchase of receivables from exporters by a forfaiter.

A monetary system is the set of institutions by which a government provides money in a country's economy.

A concern (German: Konzern) is a type of business group common in Europe, particularly in Germany.

Salaryman (サラリーマン, Sararīman, salaried man) refers to a man whose income is salary based, particularly those working for corporations.

Sensitivity analysis can refer to two approaches of analyzing results of a mathematical model or system (numerical or otherwise).

A subsidiary, subsidiary company or daughter company is a company that is owned or controlled by another company, which is called the parent company, parent, or holding company.

The word commodity came into use in English in the 15th century, from the French commodité, "amenity, convenience".

The planning horizon is the amount of time an organization will look into the future when preparing a strategic plan.

Managed services is the practice of outsourcing on a proactive basis management responsibilities and functions and a strategic method for improving operations and cutting expenses.

Cabotage /ˈkæbətᵻdʒ/ is the transport of goods or passengers between two places in the same country by a transport operator from another country.

Seed accelerators, also known as startup accelerators, are fixed-term, cohort-based programs, that include mentorship and educational components and culminate in a public pitch event or demo day.

The balanced scorecard (BSC) is a strategy performance management tool – a semi-standard structured report, supported by design methods and automation tools, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.

The following hierarchical outline is provided as an overview of and topical guide to economics: Economics – analyzes the production, distribution, and consumption of goods and services.

Harvey Balls are round ideograms used for visual communication of qualitative information.

The aim of a Strategic Early Warning System (SEWS) is to assist organizations in dealing with discontinuities or strategic surprises.

Mind share relates generally to the development of consumer awareness or popularity, and is one of the main objectives of advertising and promotion.

Job hunting, job seeking, or job searching is the act of looking for employment, due to unemployment, underemployment,, discontent with a current position, or a desire for a better position.

A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset.

The following outline is provided as an overview of and topical guide to management: Management – act of allocating resources to accomplish desired goals and objectives efficiently and effectively.

Green Monday is an online retail industry term similar to Cyber Monday.

In patent law, a patent pool is a consortium of at least two companies agreeing to cross-license patents relating to a particular technology.

Shareholder value is a business term, sometimes phrased as shareholder value maximization or as the shareholder value model, which implies that the ultimate measure of a company's success is the extent to which it enriches shareholders.

A straw-man proposal is a brainstormed simple draft proposal intended to generate discussion of its disadvantages and to provoke the generation of new and better proposals.

A corporate accelerator is a specific form of seed accelerator which is sponsored by an established for-profit corporation.

In economics and finance, an index is a statistical measure of changes in a representative group of individual data points.

Customer satisfaction (often abbreviated as CSAT, more correctly CSat) is a term frequently used in marketing.

Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting.

Colocation (or co-location) is the act of placing multiple (sometimes related) entities within a single location.

Strategic thinking is defined as a mental or thinking process applied by an individual in the context of achieving success in a game or other endeavor.

Continuous-flow manufacturing, or Repetitive-Flow Manufacturing, is an approach to discrete manufacturing that contrasts with batch production.

Zero Defects (or ZD) was a management-led program to eliminate defects in industrial production that enjoyed brief popularity in American industry from 1964 to the early 1970s.

Granularity (also called "graininess", the quality of being grainy) is the extent to which a material or system is composed of distinguishable pieces or grains.

Business analytics (BA) refers to the skills, technologies, practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning.

A proxy fight or proxy battle is an unfriendly contest for the control over an organization.

Behavioral analytics is a recent advancement in business analytics that reveals new insights into the behavior of consumers on eCommerce platforms, online games, web and mobile applications, and IoT.

Social selling is the process of developing relationships as part of the sales process.