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B U S I N E S S M A N A G E M E N T D E F I N I T I O N S…
B U S I N E S S M A N A G E M E N T D E F I N I T I O N S
CORRUPTION
A lack of honesty and integrity; the abuse of power for personal gain
MULTINATIONAL/TRANSNATIONAL
A business that extends over multiple countries
POLICY
A general guide to assist employees in dealing with reoccurring situation and problems
WORKPLACE DIVERCITY
The individual differences between employees in the workplace
CORPORATE CULTURE
An unwritten set of rules which spell out what business behavior looks like
FINISHED GOODS
Goods/services ready to be sold/used
STEAKHOLDERS
Anyone with a vested interest in a particular product or business agenda
BUSINESS ETHICS
The application of moral standards to business behavior
PROFIT
A business makes are profit when the revenue is greater than the expenses
MARKET SHARE
Market Share refers to a businesses' share of the total industry sale of a particular product/service
ECONOMIC GROWTH
The fiscal increase in/on a product/service, occurring a set period of time
CODE OF CONDUCT
A set of ethical standards by which managers and employees should abide
BUSINESS
A business is a corporation set up to provide goods/services to customers for a profit
RETURN ON INVESTMENT
A positive or negative percentage that relates to the gain or loss on an investment. Usually occurring over a 12 month period.
ECONOMY
A system set up to determine What products are needed? How to make and distribute said products? and Who wants said products?
CONFLICT OF INTEREST
Conflict of interest occurs when a person takes advantage of a situation or information for personal gain
OBJECTIVE
Objective are what an organisation expects to achieve over a set period of time
SOCIALLY RESPONSIBLE MANAGEMENT
Managing an organisation is such a way that the broader interests of the public are taken in to account during decision making