Business Applications Glossary O - S
Offline - Refers to a computer which is not connected to the Internet.
Off the shelf - Off the shelf refers to equipmentthat has already been manufactured and is available for delivery from stock.
One-Stop - Describes a retail establishment which provides an extensive range of goods and services, so the customer can purchase everything they need without having to go elsewhere.
Online - Refers to a service or product which is available to use or buy on the Internet. A computer which is connected to the Internet.
Open Account - An arrangement between a vendor and buyer in which the vendor allows the buyer to pay at a later date for goods received.
Open Communication - In business, a situation in which employees have full information about the organisation, and are encouraged to exchange ideas and objectives with management.
Open Source - Describes computer software for which the original source code is freely accessible to everyone, so that anyone can modify or copy the program without paying a fee.
Operating Income - The gross earnings of a company minus operating costs, excluding taxes and interest.
Opportunity Cost - Term which refers to the value or benefit of something which will be lost in order to achieve or pursue something else.
Opportunity Management System (OMS) - An opportunity management system (OMS) is a system tied closely to the sales process; it is the framework for any sales force automation (SFA) design. All other applications are subordinate to the OMS. Transactions flow from the OMS to other applications on users' portable computers. Applications can be integrated among vendors.
Order Management - Order management is a business process, not a specific market. Much of the functionality attributed to order management is embedded within and touches components within the CRM, ERP and SCM markets as it guides products and services through order entry, processing and tracking.
Organic Growth - Describes when a company develops and expands by increasing output and/or sales through its own activities, rather than by a merger or acquisitions (buying other companies).
Organigram - Also called Organisation Chart. A diagram which shows the structure of a business or organisation, showing connections between departments, jobs, etc.
Outbound Telemarketing - When a company calls prospective customers on the phone in order to sell them goods or services, compared to Inbound Telemarketing where the customer calls a company for assistance or to purchase goods.
Outdoor Advertising - Also known as Out-Of-Home Advertising. Advertising which consumers can see while they are outside, e.g. billboards, newsstands, skywriting, advertising blimps, etc.
Overdraft - Refers to the amount of money that is owed to a bank because withdrawals from an account exceed deposits. An arrangement in which a bank extends credit to a customer, usually up to a maximum amount.
Overheads - In business, regular costs which are incurred, such as wages, rent, insurance, utilities, etc.
Overmanned - A situation in which there are more workers than are needed for a job.
Overtime - Time worked in addition to normal working hours. The pay received, usually charged at a higher rate, for working outside regular working hours.
Own Brand - Known as House Brands in the US and Home Brands in Australia. Products which are sold by a retailer under the retailer's own name, rather than the name of the manufacturer.
P2P - Peer-to-peer is a model for computer connectivity and file-sharing which extends more widely to services and large-scale services/supply models, and which threatens/promises to change the world. See peer-to-peer.
Paid-Up Capital - The total amount of money which has actually been paid in full by shareholders for their shares.
Package Deal - A set of several products which are offered for sale and must be bought in a combined package.
Packaging - Materials used to wrap a product. The way in which something, such as a product, person, proposal, etc., is presented, usually to the public.
Page Traffic - In computing, the number of times a web page has been visited.
Paper Loss - In business, a loss which has occurred and appears in a company's accounts, but has not yet been realised until a transaction has been made, e.g. the sale of an asset which has lost value.
Paper Profit - A profit which has been made but has not yet been realised until a share, etc., has been sold.
Paper-Pusher - An office worker who has a boring job dealing with paperwork all day.
Paradigm Shift - Term first used by Thomas Kuhn in 1962 to describe when an important or significant change occurs in the perception of things. A sudden change in point of view.
Parent Company - A company or organisation which owns more than 50% of the voting shares in another company, therefore the Parent Company controls management and operations in the other (subsidiary) company.
Partnership - A business which is owned by two or more people, all sharing the profits and responsibility for managing the business.
Part-Time Worker - Someone who works less hours than a full time employee on a permanent basis for a company, usually for a set number of hours a week.
Patent - An official document which grants an inventor or manufacturer sole rights to an invention or product.
Pay-As-You-Go - Refers to a method of paying for a service as you use it, such as mobile phone credit. Also can be used to pay debts as they are incurred.
Payout Ratio - Also known as Dividend Payout Ratio. The percentage of a company's net earnings paid to shareholders in dividends.
Peer-To-Peer - Also abbreviated to P2P, this describes computer systems which act as servers and are connected to each other via the internet, allowing people to share share files, so there is no need for a central computer, or traditional authority/body/agent. The concept now extends more widely to business models in various areas.
Perfect Competition - Describes a market in which no one can influence prices because there is enough information about a product to prevent control by an individual or a single organisation.
Permission Marketing - A term used for the advertising of products or services on the Internet, for which the marketing company obtain the consent of prospective customers to send them information about certain products or services.
Personal Allowance - Known as Personal Exemption in the US. The amount of income an individual can earn in a year before paying tax.
Personal Information Manager - PIM. Computer software which handles personal information, such as names, addresses, memos, lists, e-mails, etc.
Personal Liability - An individual's legal responsibility in the event of injury to someone, damage to property and/or the debts of their own company.
Personnel - The people who work for a business or organisation. An administrative department in an organisation which deals with employees and often liaises between departments.
Performance (Project/Program) Evaluationon Review Technique - PERT. A management scheduling tool which charts the tasks involved in a project, showing the sequence of the work, the time needed for each task, etc.
Petty Cash - A small amount of cash kept by a business to pay for small purchases.
Pictogram - Also called a Pictograph. A graphic symbol or diagram which represents a concept, an amount, an activity, etc., in pictures.
Pie Chart - A chart or graph which is circular in shape and divided into triangular sections (like slices of a pie), the sizes of which are relative to the quantities represented.
Pink Slip - In the US, an official notice of job termination given to an employee.
Portal - Organizations use both portal and other user interface products to provide access to, and interaction with, relevant information, applications, business processes and human resources for select targeted audiences. Especially where these are provided by portals, these can be delivered in a highly personalized manner. Horizontal portal products can be used to create portals facing a variety of external and internal audience types. A modern portal product is programmable and thus performs platform middleware functions. Increasingly, it also includes integration middleware functions, such as transformation and intelligent routing (that is, it can include some form of basic integration suite). Modern horizontal portal products often include at least limited support for Web content management and collaboration features and often come with an embedded search engine.
Positioning - Term used to describe the way a company, product, service, etc., is marketed in order to make it stand out from the competition by choosing a niche according to brand, price, packaging, etc.
Postage And Packing - Called Postage and Handling in the US. The cost of wrapping an item and sending it by post. Often used for mail order goods.
Power Brand - A brand of goods, etc., which is well known and has a large share of the consumer market for a long period of time.
PPC - Pay-Per-Click (also called CPC, Cost-Per-Click) - A method of internet/website/electronic advertising by which an advertiser pays according to the number of visitors/users who click on an advert. This compares with the main alternative method, CPI - Cost-Per-Impression (or 'cost per view') - by which advertisers pay according to the number of times an advert is displayed/viewed, and which is used analytically/statistically beyond electronic advertising. The non-electronic/non-internet equivalent of PPC/CPC is loosely 'cost per enquiry/inquiry' or 'cost per lead'. CPO - Cost-Per-Order (cost per transaction) - is a less common variation, by which advertising cost is calculated/charged according to numbers or values of orders placed (purchases or sales revenues), which is a further step in the buying/selling process. The cost-effectiveness of PPC (pay per click) is easier to predict and manage than CPI (cost per impression/view), but less easy to predict and manage than CPO (cost per order/transaction/sale).
Predatory Pricing - Also known as Destroyer Pricing. A situation where a company charges very low prices for goods or services in order to put its competitors out of business, after which prices will be raised.
Presenteeism - The opposite of Absenteeism. A situation where employees work very long hours or come to work when they are ill and their performance is below standard, which can have a negative effect on the business.
Press Agent - A person employed to arrange publicity for an individual or organisation, for example in newspapers, on television, etc.
Price - The amount of money required to purchase something or to bribe someone. The amount agreed upon between the buyer and seller in a commercial transaction.
Price Control - Maximum and minimum price limitations, often during periods of inflation, which a government puts on essential goods and/or services.
Price Discrimination - The practice of a provider to charge different prices for the same product to different customers.
Price Fixing - The, often illegal, practice of prices being fixed, by agreement, by competing companies who provide the same goods or services as each other.
Price Mechanism - Describes the way prices for goods and services are influenced by the changes in supply and demand. Shortages cause a rise in prices, surpluses cause a fall in prices.
Price Support - A system in which a minimum price is set by a government, and sometimes subsidised, for a product or commodity.
Pricing - To evaluate the price of a product by taking into account the cost of production, the price of similar competing products, market situation, etc.
Primary Data - Data which is collected by a company, business, etc., itself for its own use, using questionnaires, case studies, interviews, etc., rather than using other sources to collect the data.
Primary Demand - Consumers demand for a generic product rather than a particular brand.
Primary Market - On the Stock Exchange, when shares, securities, etc., are issued for the first time.
Primary Research - Also called Field Research. The collection of new or primary data through questionnaires, telephone interviews, etc., for a specific purpose.
Prime Cost - In manufacturing, etc., the cost of direct materials and labour required to make a product.
Principal - In finance, principal (the principal, or the principal sum/amount) refers to an amount of money loaned or borrowed. The term is used particularly when differentiating or clarifying an amount of money (loaned/borrowed/invested) excluding interest payments. Separately, more generally, in business the term 'the principal' refers to the owner of a business or brand, as distinct from an agent or representative, such as a franchisee.
Private Brand - Also called House Brand. A product which is owned by a retailer, and therefore has its own brand label on it, rather than the manufacturer or producer.
Private Company - Called A Private Corporation in the US. A company whose shares are not offered to the general public on the open market.
Private Equity - Describes companies shares which are not available for investors to buy and sell on the Stock Market, because the company is unlisted.
Private Sector - The part of a country's economy which is owned and run for profit by private businesses rather than being government controlled.
Product - The result of a manufacturing or natural process (such as food) which is offered for sale to the general public, usually by a retailer.
Productivity - The rate at which goods are produced based on how long it takes, how many workers are required, how much capital and equipment is needed, etc.
Product Liability - Area of the law in which a manufacturer or retailer is legally responsible for any damage or injury caused by a defective product.
Product Life Cycle - This refers to the (generally very usual and unavoidable) stages that a product/service passes through from invention/development to maturity to decline until it becomes obsolete, usually because it has been superseded by competitive/replacement offerings, and/or to a lesser degree the product/service has saturated the market, i.e., everyone who wants it has purchased it. Product life cycle is often shown as a graph of sales volumes or market-share over time. The term 'product life cycle' is very broad - it may refer to a single specific item of one particular supplier, such as a 'Big Mac' burger, or an iPad, or a Colt 45 revolver; or to a product/service in a generic sense across an entire industrial sector, such as a personal computer, or television, or diesel locomotive; or to a technology, such as broadband, radar, the internal combustion engine, or steam-power; or even symbolically to a lifestyle or aspect of civilization, such as agriculture, fire, horse-transport, coins/paper money, Christianity, etc. The product life cycle begins with innovation and novelty, often supported by (commercially) patents or other protective mechanisms such as secrecy, cartels, legislative instruments, etc., during which the prices and gross profit margins of products/services are high (although net profits may be low due to recovery development/investment costs). This is shown as a steep upward curve on a product life cycle graph, reflecting/illustrating sales levels in volumes or revenues or market share, horizontally, passing through vertical time-zones, typically years. The curve then flattens to reflect/illustrate 'maturity' of product/service life, and a period of reasonably constant sales, during which profits should be healthy, even if competition and competing technologies have begun to pressurize prices downwards, because investment costs have been recovered and economies of scale in production and distribution have been achieved. Next the curve to dips gradually downwards, reflecting/illustrating reduced sales levels and the 'decline' of the product/service market appeal. Profits may still be healthy during the decline phase if costs and efficiences are managed carefully, although many corporations persist in investing in and attempting to revive declining products/services, which tends to be wasteful and in vain. Decline may last for many years depending on the product/service/technology concerned, and some technologies may maintain a small specialist niche market indefinitely, such as hot-air balloons, steam trains, archery, and cut-throat razors. Some technologies and specific products enjoy natural resurgences, but this is very rare, for example notably the bicycle (in Europe), whose product life cycle graph would show a steep rise after invention in the 1800s, then a plateau and a decline in the late 1900s, and then another rise as popularity surged again in the early 2000s. The fuel-oil technology product life cycle graph would show a similar double rise, initially for the market in oil-lamp lighting, and then, as the oil-lamp technology was about to become obsolete due to electric light, the motor car was invented. Likely a third fuel-oil demand surge will be enabled just as electric motoring replaces the internal combustion engine. When products/technologies become sufficiently huge, they (and the corporations which own them) can potentially exert influences and protections of vast socio-political dimensions. This effect can arguably be seen in the power of other major technology players such as Apple, Microsoft and Google, and equivalent corporations in fundamentally powerful sectors such as energy, minerals, transport, armaments, etc. In general however, product life cycles have become shorter over past decades and centuries, and are likely to continue to become even shorter in the future. For example, in the Stone Age, stone tools can be considered to have enjoyed an effective product life cycle of thousands of years. In the Middle Ages, candles enjoyed a product life cycle of several hundreds of years. In the European/western industrial age, steam-power enjoyed a product life cycle of two centuries. In the computer age, the product life cycle of the digital wristwatch and 'Walkman' cassette player was no more than two decades. In more recent times, the Myspace phenomenon launched in 2003, bought by News Corporation for $580m in 2005, the most popular website globally from 2006-2008, was in dramatic decline by 2009, and was forced to attempt a complete redesign and relaunch in 2013, effectively signifying the obsolescence of the original concept, an effective life cycle of just six years for a once global industry leader and technology definer. The modern world moves very quickly, and so too now do most product life cycles.
Product Life Cycle Management (PLM) - Product life cycle management (PLM) is a philosophy, process and discipline supported by software for managing products through the stages of their life cycles, from concept through retirement. As a discipline, it has grown from a mechanical design and engineering focus to being applied to many different vertical-industry product development challenges.
Product Placement - Also called Embedded Marketing. A type of advertising where a company pays a fee to have one or more of its products used as props in a film or television show.
Product Portfolio - A variety of products which are manufactured or distributed by a company or organisation.
Professional Liability - The legal liability of a professional, such as a doctor, accountant, lawyer, etc., who causes loss, harm or injury to their clients while performing their professional duties.
Profit-centre - A business division or department or unit which is responsible for producing a profit, for example a shop unit within a chain of shops, or a branch within a network dealerships. Significantly a Profit-centre business unit will use a 'Profit and Loss Account' as a means of managing and reporting the business. A profit centre is involved in selling to customers. See Cost-centre, which tends only to be responsible for internal services and supply to other departments.
Profit Sharing - An incentive scheme in which a business shares some of its profit , usually in cash or shares, with its employees.
Pro Forma Invoice - An invoice prepared by a supplier describing goods, price, quantity, etc., which is sent to the buyer before the goods are supplied.
Project - A very general term for a task or objective of some complexity and duration, such that it needs properly planning, organizing, resourcing and managing. A small project can easily be part of a person's usual work duties. A large project can be as big as starting a new business, or constructing a skyscraper, or putting a spacecraft on Mars. Typically large projects are established as being separate to usual operational duties and responsibilities of workers, although any job can at any time be extended to include responsibility for the management of a project within it. A project differs from conventional 'work' mainly in being far more firmly structured, scheduled, resourced, and proactive, etc., whereas conventional 'work' is less predictable and tends to be of a more passive, responsive, reactive and flexible nature. Projects may be opportunistic and proactive (such as new product developments, or building something new, or some sort of exploratory research), or a necessary response/reaction to problems, emergencies, failures, etc., (for example a product recall, or a disaster recovery or investigation, or a re-training requirement). Large projects almost inevitably involve a degree of people-management. Projects may require that people/labour resources are provided internally/'in-house' or externally/'contracted-out' and commonly a mixture of both, especially if the project is large compared to the size of the organization which owns and instigates the project.
Project Management - The process of managing and planning a successful project from start to finish, which includes controlling, organizing, managing resources, people, budgets, etc.
Project Manager - A person responsible for planning and delivering a large stand-alone task, objective, venture, etc., (a large and complex 'project') or a professional who is skilled in doing this, which generally includes using suitable project management tools and systems, and people-management skills where appropriate. N.B. A person who is instructed to plan and manage a project within his/her conventional work duties is not necessarily, in the usual meaning of the term, a 'project manager'. The term 'project manager' usually refers to a person whose primary responsibility is to manage a stand-alone project which by definition falls outside of conventional and normal operational work duties.
Promo - A promotional broadcast on television, radio, etc., advertising a product, TV show, film, etc.
Promotion - The use of marketing and/or advertising to bring attention to a product, brand, service, company, etc., usually in order to increase sales. The raising of an employee to a higher rank in an organisation.
Prototype - An original design or working model of something, often used in demonstrations.
Psychographics - Used in marketing, the analysis of peoples characters, lifestyles, attitudes, purchasing habits, etc.
Psychographic Segmentation - The process of identifying and dividing consumers into groups according to their interests, attitudes, social class, values, personality, etc.
Pull Strategy - Used in marketing to create a demand for a product by means of advertising and promoting to the end consumer, rather than through the marketing channel. To 'pull' the product through from distributor to final consumer.
Purchasing Power - Also called spending power, the amount of goods or services which can be purchased with a particular currency, or more generally, the amount of money a person or group has available to spend on goods and services. The term may also emphasise a group or organization's ability to achieve heavily discounted prices or rates due to the high buying volumes.
Push System - In production, a system in which the demand for goods is predicted by the company, so more goods are made to keep up with pre-set levels rather than customer demand.
QoS (Quality of Service)- A negotiated contract between a user and a network provider that renders some degree of reliable capacity in the shared network.
Qualifying Period - The length of time an employee must serve in a job before being entitled to various benefits, or being able to make a claim against unfair dismissal.
Quality - An attribute or level of excellence. The standard of a product, service, etc., as measured against similar products, services, etc. A distinctive characteristic or attribute possessed by someone or something.
Quality Assurance - QA. A system in which the delivery of a service or the quality of a product is maintained to a high standard, especially by means of attention to every stage of the process.
Qualitative - Associated with a thing's quality which cannot be measured, such as feel, image, taste, etc. Describes peoples qualities which cannot be measured, such as knowledge, behaviour, attitude, etc.
Quality Circle - Originating in Japan, a group of workers in a company who meet regularly to discuss ways in which to improve working conditions for employees and productivity for the company.
Quantitive/Quantitative - Related to or measured in numbers. Comparison based on quantity rather than quality.
Questionnaire - A form containing a list of research or survey questions for people to answer, so that information can be gathered for analysis.
Quota - An official allocation of something, or a limited amount of people allowed. A fixed amount of something, e.g. sales, which must be reached.
R&D - Research and Development. Investigative work carried out by a business to improve and develop products and processes.
Rate Card - A printed list of charges and details regarding advertising costs on television, radio, websites, newspapers, etc.
Ratio Analysis - A study of a company's financial statements which show the relationships between items listed on a balance sheet and gives an indication as to whether the company can meet its current obligations.
Reactive Marketing - Describes when companies orbusinesses wait for customers to contact them in order to buy their products or services.
Real Time - In computing, systems which receive information and update it at the same time.
Rebrand - Change the name, packaging, etc., of an existing product or business and advertise it as new and improved.
Receivables - Shown as assets on a balance sheet, money which is owed to a company by customers who have purchased goods or services on credit.
Receiver - An independent person appointed by a court to manage and control the finances, property, etc., of a bankrupt company, who usually sells the company's assets in order to pay the creditors.
Recruit - To seek employees for a business or organisation. To enlist military personnel.
Redundancy - A situation in which an employer intends to cease business, so therefore the workforce lose their jobs, or an employee is made redundant because their job no longer exists in the company they work for. Employees in these situations often qualify for redundancy pay.
Reference - A letter/statement written about a person by someone who knows them, detailing their abilities, character, qualifications, etc., which is sent to a prospective employer.
Registered Capital - Also called Authorised Capital. The maximum value of shares which a company can legally issue.
Registered Company - In the US, a company which has filed an SEC (Securities and Exchange Commission) registration, and may issue new shares. In the UK, a company which is listed on the Companies Register as a limited private company, a public limited company, or an unlimited company.
Registered Trademark - A distinctive symbol, name, etc., on a product or company, which is registered and protected by law so it cannot legally be used by anyone else.
Registrar - A person in a company or organisation who is in charge of official records.
Registration Statement - In the US, a legal document containing details about a company's activities, financial status, etc., which must be submitted to the SEC (Securities and Exchange Commission) before the company can issue shares.
Remunerate - To pay a person for services rendered, goods, losses incurred, etc.
Renewal Notice - An advanced notice of payment required to renew insurance cover, subscription, etc., by a certain date.
Research - The gathering of information, facts, data, etc., about a particular subject.
Resume - A written summary of a person's education, employment record, qualifications, etc., which is often submitted with a job application.
Return On Assets - ROA. Net income divided by total cost or value of assets. The more expensive a company's assets, the less profit the assets will generate.
Return On Capital Employed - ROCE. A company's financial indicator which compares earnings with the company's capital investments.
Return On Investment - ROI. Also known as Rate Of Return. The percentage of profit earned by an investment in a business, etc.
Running Cost - The day to day running costs of a business, for example wages, rent, utilities, etc.
Safety Stock - Also called Buffer Stock. Extra stock kept by a company or business in case of extra demand or late deliveries of new stock.
Salary - An employees wages which are paid on a regular basis for performing their job.
Sale Or Return - An agreement in which unsold goods can be returned to the supplier without the goods having to be paid for.
Sales And Marketing - The business of promoting and selling a company's products or services. The department of a business which carries our these activities.
Sales Analytics - Sales analytics is used in identifying, modeling, understanding and predicting sales trends and outcomes while aiding sales management in understanding where salespeople can improve. Specifically, sales analytic systems provide functionality that supports discovery, diagnostic and predictive exercises that enable the manipulation of parameters, measures, dimensions or figures as part of an analytic or planning exercise.
Sales Conference - A meeting at which members of a company's sales team(s) are brought together to discuss or review ways of marketing the company's products or services.
Sales Ledger - Also known as Accounts Receivable. A company's record of transactions for goods and/or services which have been provided to a customer, and for which money is still owed.
Sales Pitch - A salespersons attempts to persuade a potential customer to buy something, often using demonstration and argument.
Sales Resistance - The refusal of a potential customer to buy a product or service, often as a result of aggressive selling practices.
Sales Tax - Known as VAT (Value Added Tax) in the UK. A tax based on the cost of a product or service which must be paid by the buyer. This tax does not apply to all goods or services.
Salvage Value - Also known as Residual Value. The estimated value of an asset, for example a piece of machinery, which is to be scrapped or removed.
Scalability - The ability of a computer network, software, etc., to expand and adapt to increased demands of users. A system which can work on a small or large scale according to demand.
Screening Interview - A brief, first interview, sometimes over the phone, with a company looking for potential job applicants. This process weeds out unsuitable applicants, and successful ones go on to the next stage of interviews.
Search Engine - Google, Bing, Yahoo, etc., are examples of Search Engines which locate, list and rank (according to various crietria and unknown algorithms) relevant websites and website content on the Internet when the user types in key words or phrases.
Secondary Research - Also called Desk Research. The collating and analysis of existing data which has already been collected for another purpose often by an outside source.
Self-Supporting - Financially independent. Being able to operate without the help of others.
Seller's Market - A situation in which there are more buyers than sellers, often resulting in high prices.
Selling Cost - Costs which are incurred for the advertising and distribution of a product.
Sell Limit Order - An order to a stock broker to sell a specific number of shares at or above a specified price.
Service Level Agreement - SLA. A contract, which can be legally binding, between a service supplier and a user, in which the terms of service are specified.
Settlement Date - Term used to describe the date by which shares, bonds, etc., must be paid for by the buyer, or a sold asset must be delivered by the seller.
Social Networking - On the Internet, online communities which are built for people who share interests and activities, or to make and/or contact friends and family, e.g., Facebook, Twitter, etc. The practice of making business and/or social contacts through other people.
Software - A general term for programs, etc., used to operate computers.
State Of The Art - The highest level of development and/or technology applied to a product or service which is currently available.
Stealth Marketing - Also known as Buzz Marketing. A method of advertising a product where customers don't realise they are being persuaded to buy something, e.g., people recommending a product on Internet Chat Forums, without others realising that the person actually works for the company or manufacturer selling the product.
Stipend - A fixed, often modest, payment, usually made on a regular basis, to someone, e.g. an apprentice, for living expenses during a training period.
Strategic Management - The process of predicting and assessing a company's opportunities and difficulties, and making decisions so the company can achieve its objectives and gain a competitive advantage.
Subcontract - To hire someone to carry out some of the work that you have been contracted to do.
Subordinate - Someone who is lower in rank than another person, and is subject to the authority of a manager, etc. Less important.
Succession Planning - The process of identifying suitable employees who can be trained and prepared to replace senior staff when their positions become vacant.
Supply And Demand - Supply is the amount of a product or service which is available, and demand is the amount which people wish to buy. When demand is higher than supply prices usually rise, when demand is less than supply prices usually fall.
Supply Chain - A chain through which a product passes from raw materials to manufacturing, distribution, retailing, etc., until it reaches the end consumer.
Synergy - The working together of two or more individuals, groups, companies, etc., to produce a greater effect than working individually.
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