By David Statt

With elevated insurance in components like human family members administration, enterprise economics, company process, monetary administration, info expertise, and administration accounting and advertising, this moment variation of The Concise Dictionary of commercial administration has been thoroughly revised and up to date to mirror the altering international of labor and new expertise. it's been elevated to incorporate many new phrases and buzzwords similar to: contracting out, telecommuting, occupational selection, glass ceiling, superwoman, digital brainstorming, net and digital company. it's the excellent speedy reference advisor for college students and pros eager to lower throughout the jargon of commercial and administration.

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The GOAL is to damp down demand in order to reduce the risk of INFLATION. crisis management The form of MANAGEMENT adopted in an emergency or an exceptional situation which focuses all the resources of the ORGANIZATION on 38 critical incident technique getting through a temporary period of difficulty, leaving more fundamental or longer-term issues aside. There is a great temptation for senior managers to allow this state of affairs to degenerate into MANAGEMENT BY CRISIS. critical incident technique A technique which analyses the impact of key incidents in past PERFORMANCE in order to improve future performance.

Computer-integrated manufacturing The ultimate form of industrial AUTOMATION, in which every aspect of manufacturing, from the initial design to the delivery of the finished product, is both controlled and co-ordinated by COMPUTER. computerization The installation of COMPUTERS as part of a process of AUTOMATION. computer language A SYSTEM of words and symbols used to instruct a COMPUTER in its TASK of INFORMATION PROCESSING. The most popular computer language in business is COBOL; in science and TECHNOLOGY ALGOL and FORTRAN are commonly used.

Control 1 In terms of ACCOUNTING, control refers to the process of checking actual financial PERFORMANCE against planned performance. 2 In general, the POWER to direct an ORGANIZATION. corporate responsibility 35 controller The senior manager responsible for the finances of an ORGANIZATION. convergent thinking Thinking along conventional lines in an attempt to find the best single answer to a problem, unlike DIVERGENT THINKING. See also LATERAL THINKING. co-operative A GROUP of producers or purchasers who set up a trading ORGANIZATION, the PROFIT from which is shared out among the members of the group.

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