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Organizational memory

Organizational memory is the accumulated body of data, information, and knowledge created in the course of an individual organizations existence. The organizational memory includes the components knowledge acquisition, knowledge processing or mai ...

Original equipment manufacturer

An original equipment manufacturer is a company that produces parts and equipment that may be marketed by another manufacturer. For example, Foxconn, a Taiwanese electronics company, manufactures parts and equipment for OEMs including Apple, Dell ...

Overhead (business)

In business, overhead or overhead expense refers to an ongoing expense of operating a business. Overheads are the expenditure which cannot be conveniently traced to or identified with any particular cost unit, unlike operating expenses such as ra ...

Overtrading

Overtrading is a term in financial statement analysis. Overtrading often occurs when companies expand their own operations too quickly.Finance Wales: "A practical guide to cash-flow management", page 28. CIMA, 2004 Retrieved on 2010-11-10 Overtra ...

Owner earnings

Owner earnings is a valuation method detailed by Warren Buffett in Berkshire Hathaways annual report in 1986. He stated that the value of a company is simply the total of the net cash flows expected to occur over the life of the business, minus a ...

Owner-controlled insurance program

An owner controlled insurance program is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project ...

Pac-Man defense

The Pac-Man defense is a defensive business strategy used to stave off a hostile takeover, in which a company that is threatened with a hostile takeover "turns the tables" by attempting to acquire its would-be buyer. The name refers to Pac-Man, a ...

Parent company

A parent company is a company that owns enough voting stock in another firm to control management and operation by influencing or electing its board of directors. Companies that operate under this management are deemed subsidiaries of the parent ...

Pareto priority index

The Pareto priority index, so named because of its connection with the Pareto principle, which is in turn named after the economist Vilfredo Pareto, can be used to prioritize several projects. It is especially used in the surroundings of six sigm ...

Patent holding company

A patent holding company exists to hold patents on behalf of one or more other companies but does not necessarily manufacture products or supply services based upon the patents held. Patent holding companies may exist for tax reasons. Patent hold ...

Patent map

A patent map is a graphical model of patent visualisation. This practice "enables companies to identify the patents in a particular technology space, verify the characteristics of these patents, and. identify the relationships among them, to see ...

Patent pool

In patent law, a patent pool is a consortium of at least two companies agreeing to cross-license patents relating to a particular technology. The creation of a patent pool can save patentees and licensees time and money, and, in case of blocking ...

Pay to fly

Pay-to-fly or pay-to-work is an aviation industry practice whereby a professional pilot operates an aircraft on revenue-earning commercial operation by paying for it. Typical customers include, but are not limited to, inexperienced pilots and low ...

Payment

A payment is the trade of value from one party to another for goods, or services, or to fulfill a legal obligation. Payment can take a large variety of forms. Barter, the exchange of one good or service for another, is a form of payment. The most ...

PDX (IPC-257X)

PDX is the Product Data eXchange standard for manufacturing. PDX is a multi-part standard, represented by the IPC 2570 series of specifications. PDX files are text files in eXtensible Markup Language XML format. PDX files can be used to describe: ...

Pension parachute

A pension parachute is a form of poison pill that prevents the raiding firm of a hostile takeover from utilizing the pension assets to finance the acquisition. When the target firm is threatened by an acquirer, the pension plan assets are only av ...

Perpetual succession

In company law, perpetual succession is the continuation of a corporations or other organizations existence despite the death, bankruptcy, insanity, change in membership or an exit from the business of any owner or member, or any transfer of stoc ...

Personal selling

Personal selling occurs when a sales representative meets with a potential client for the purpose of transacting a sale. Many sales representatives rely on a sequential sales process that typically includes nine steps. Some sales representatives ...

Physical restructuring

Manufacturing companies often refer to their manufacturing plant transfer, consolidation and closure activities as physical restructuring. This can be done by moving production or services overseas, a process known as offshoring. Such projects be ...

PIGS (economics)

PIGS is a derisory acronym used in UK economics and finance. The PIGS acronym originally refers, often derogatorily, to the economies of the Southern European countries of Portugal, Italy, Greece, and Spain. During the European debt crisis, the v ...

Pink money

Pink money describes the purchasing power of the LGBT community, often especially with respect to political donations. With the rise of the gay rights movement, pink money has gone from being a fringe or marginalized market to a thriving industry ...

Planned change

One of the foundational definitions in the field of organizational development is planned change: According to Beckard defines that" Organization Development is an effort planned, organization-wide, and managed from the top, to increase organizat ...

Planning horizon

The planning horizon is the amount of time an organization will look into the future when preparing a strategic plan. Many commercial companies use a five-year planning horizon, however a general Planning horizon is around one year. Other organiz ...

Point-of-value

Point-of-value is a department or a specialized area of a company that involves producing, saving or reinvesting money. It can be a replenishing quality, or a lack-of therein, in a product, service, or entity. Anything that is monetarily producti ...

Political risk

Political risk is a type of risk faced by investors, corporations, and governments that political decisions, events, or conditions will significantly affect the profitability of a business actor or the expected value of a given economic action. P ...

Postponement

Postponement is a business strategy which maximizes possible benefit and minimizes risk by delaying further investment into a product or service until the last possible moment. An example of this strategy is Dell Computers build-to-order online s ...

Pre-determined overhead rate

A pre-determined overhead rate is the rate used to apply manufacturing overhead to work-in-process inventory. The pre-determined overhead rate is calculated before the period begins. The first step is to estimate the amount of the activity base t ...

Pre-qualification (lending)

Pre-qualification is a process whereby a loan officer takes information from a borrower and makes a tentative assessment of how much the lending institution is willing to lend them.

Pre-start-up audit

The Pre-Start-Up Audit or Pre-startup review is a part of the planning process for projects during which the safety and functionality of the process itself is checked to ensure that all systems should function as intended and potential hazards ca ...

Preferred partnership

A preferred partner agreement normally refers to an agreement between a vendor and those who are allowed to on-sell its products. In line with this agreement there are normally some prerequisites that the partner must meet to become a preferred p ...

Preparation (principle)

Preparation is a management principle whereby people get ready for a final product for a successful experience. Preparation means "a substance especially prepared". Preparation is a proceeding or readiness for a future event as a goal and an acce ...

President's Quality Award (US)

The Presidential Award for Management Excellence - the President’s Quality Award - is the highest award given to Executive Branch agencies for management excellence. The award was established in 1988 to recognize excellence in quality and product ...

Price analysis

In marketing, Price Analysis refers to the analysis of consumer response to theoretical prices in survey research. In general business, price analysis is the process of examining and evaluating a proposed price without evaluating its separate cos ...

Price umbrella

A price umbrella, also known as the umbrella effect, is a pricing effect often created by a dominant company, in which competing firms can find buyers as long as they set their price at or below the level of the dominant one. This may not apply i ...

Price-weighted index

A price-weighted index is a stock market index where each constituent makes up a fraction of the index that is proportional to its component, the value would be: Adjustment Factor= Index specific constant "Z"/Number of shares of the stock*Adjuste ...

Process risk

Process Risk is considered to be a sub-component of operational risk. It exists when the process that supports a business activity lacks both efficiency and effectiveness, which may then lead to financial, customer, and reputational loss. This fo ...

Procurement

Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement generally involves making buying decisions under condi ...

Product (business)

In marketing, a product is an object or system made available for consumer use; it is anything that can be offered to a market to satisfy the desire or need of a customer. In retailing, products are often referred to as merchandise, and in manufa ...

Product churning

Product churning is the business practice whereby more of the product is sold than is beneficial to the consumer. An example is a stockbroker who buys and sells securities in a portfolio more frequently than is necessary, in order to generate com ...

Product life-cycle management (marketing)

Product life-cycle management is the succession of strategies by business management as a product goes through its life-cycle. The conditions in which a product is sold changes over time and must be managed as it moves through its succession of s ...

Product strategy

Product strategy defines what your product should achieve and how that supports the organisation, and is brought to life through the product road map. This strategy outlines the end-to-end vision of the product, particulars on achieving the produ ...

Product support

Product support is a service provided by many vendors of various products, primarily electronics, that provides the end-user with a resource for information regarding the product, and help if the product should malfunction. Product-support inform ...

Professional network service

A professional network service is a type of social network service that is focused solely on interactions and relationships of a business nature rather than including personal, nonbusiness interactions. A professional network service is used by b ...

Profit pools

The Profit pools is a strategy model that can be used to help managers or companies focus on profits, rather than on revenue growth. The method was conceived by Orit Gadiesh and James L. Gilbert, both consultants at Bain & Co. presented the follo ...

Profiteering (business)

Business owners may be accused of profiteering when they raise prices during an emergency especially a war. The term is also applied to businesses that play on political corruption to obtain government contracts. Some types of profiteering are il ...

Programmatic Commerce

Programmatic Commerce is the phenomenon where consumers and businesses allow purchase decisions to be made on their behalf by connected devices based on pre-programmed parameters and learned preferences. This has been driven by the rise of the In ...

Programming station

A programming station is a terminal or computer that allows a machine operator to control a machine remotely, rather than being on the factory or shop floor. The programming station usually provides all the functionality including management and ...

Project delivery assurance

The business term project delivery assurance describes a methodology employed in construction or development projects to monitor the project process to provide a clear indication of the status of that project at any given time. The purpose of a P ...

Projector (business)

A Projector in the business context is an individual who promotes a project or scheme to combine public benefit and private profit. The term came into use in sixteenth century England and remained in popular language until the nineteenth century ...

Promoter (entertainment)

An entertainment promoter works in entertainment industries, including music and sports, as an individual or organization in the business of marketing and promoting live, or pay-per-view and similar, events, such as concerts/gigs, sports events, ...