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Definitions (89)
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abilene paradox
Story about a family who, collectively, decides to drive to Abilene, Texas, despite the fact that, individually, none of them really wants to make the trip. Used as a parable to illustrate the dangers of organisational groupthink where the inclination to conform to the action of others takes priority over independent, rational decision-making proce [..]
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accounts payable
The monies the company owes for goods or services received, but not yet paid for.
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acid test ratio
Current assets - current liabilities. This measures liquidity.
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acquisition
One firm gains a controlling interest in another.
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arbitration
Referral of a dispute to a third party for settlement or advice; method of settling an industrial dispute where a third party renders a binding decision.
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attrition
Decrease in total employment of an organisation or industry through the normal course of events such as resignation, retirement or death.
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balanced scorecard
A strategic, measurement-based management system, originated by Robert Kaplan and David Norton, which provides a method of aligning business activities to the strategy, and monitoring performance of strategic goals over time.
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barriers to entry
Barriers to entry are those things that make it difficult for a new company to compete against companies already established in the field. Examples include such things as patents, trademarks, copyrighted technology, and a dominant brand.
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benchmarking
The use of performance or profiles as standards for measuring one’s own performance.
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blake and mouton’s managerial grid
An explanation, through the medium of a grid, of five styles of management concentrating on concern for people and concern for production.
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