| |
| Callable Bonds |
 |
| Bonds that have provisions, which allow the issuing company to redeem them prior to maturity usually at a premium. See also Bonds |
| |
| Canned Sales Presentation |
|
| A stereotyped sales talk designed to provide all the information that a prospect needs to make a sales decision. See also Prospect |
| |
| Capability Chain |
|
| A measure of the capability of the supply network, as identified by the client company, to respond to shifts in the market that is being supplied. |
| |
| Capital |
|
| The necessary funds required to finance the operation of a business |
| |
| Capital Items |
|
| Those items purchased with capital funds that are required by a company to manufacture or produce a product or service. The items are usual designated to be over a certain value for accounting purposes and are generally identified as having some long term application and value |
| |
| Capitalism |
|
| The economic system founded on the principle that competition among business institutions best serves the needs of society |
| |
| Cartel |
|
| A conglomeration of business institutions designed to control the markets in which they participate so that they maintain a monopolistic position. Illegal in some countries. |
| |
| Cash Surrender Value |
|
| The savings portion of a life insurance policy that can be borrowed by the policyholder at low interest rates or paid to the policyholder upon termination of a policy |
| |
| Census |
|
| A primary data survey in which all possible data sources are contacted |
| |
| Central Processing Unit (CPU) |
|
| The heart of a computer system, which contains the memory storage, arithmetic logic unit and the control unit |
| |
| Centralisation |
|
| The style of business management whereby many activities arew coordinated and managed from a central point eg Head Office. Branches are not given powers to manage or control certain activities |
| |
| Certified Management Accountant (CMA) |
|
| An accountant who has met specific educational and professional requirements and has passed appropriate examinations laid down by an authorised examining institution allowing him or her to perform management accounting activities for business organisations, but not the public |
| |
| Certified Public Accountant (CPA) |
|
| An accountant who has met specific educational and professional requirements and has passed appropriate examinations laid down by an authorised examining institution allowing him to carry out accountancy work for the public and business organisations |
| |
| Chain Cell |
|
| A measure of the extent to which business cell teams or units have developed in the network of supply. |
| |
| Chain Information Transfer |
|
| The extent to which information is disseminated and shared between members of the same supply network. |
| |
| Chain Product Development |
|
| The mechanism, and its level of maturity, for product development through the supply network to provide a response to the market. |
| |
| Chain Quality |
|
| A measure of the ability of the supply network to control quality attributes relating to product, service, timing, contingencies, tolerances, and market response. |
| |
| Closed Loop |
|
| The measure of controls at business, process and manufacturing environment that operate with feedback systems to ensure planned activities are achievable. |
| |
| Closed Shop |
|
| A place of employment in which management cannot hire non-union workers |
| |
| Coaching |
|
| A management development programme designed to transfer the skills and develop experience from a mentor |
| |
| Collective Bargaining |
|
| A process of negotiation between management and union representatives for the purpose of arriving at a mutually acceptable wage level and conditions for employees |
| |
| Commercial Bank |
|
| A profit making business which holds deposits of individuals and businesses in the form of cheque or savings accounts and uses those funds to make loans to other businesses and individuals |
| |
| Commercial Finance Company |
|
| A financial institution that supplies short-term funds to business borrowers who pledge security against non-payment in the form of tangible items such as debtors, stock, property, machinery etc. |
| |
| Commercial Paper |
|
| A short-term note issued by a major corporation with high credit standing and backed solely by the reputation of the issuing firm |
| |
| Common Carrier |
|
| A transportation company that performs logistical services for a business or individual but has limited liability regarding the value of the goods carried |
| |
| Common Law |
|
| The body of law arising out of judicial decisions related to the unwritten law which operates throughout England and inherited by other countries |
| |
| Common Market |
|
| A basic format for economic integration that maintains a customs union and seeks uniformity and consistency across the government trade rules of its members |
| |
| Common Stock |
|
| Stocks or shares whereby the owners have only a residual claim to the firm’s assets, after preferential stockholders and creditors have been paid, but who have voting rights in the corporation |
| |
| Communism |
|
| An economic theory developed by Karl Marx under which private property is eliminated and goods are owned in common |
| |
| Comparative Advantage |
|
| A country’s ability to supply a good or service more efficiently and at a lower cost than other goods and services |
| |
| Competition |
|
| The race for supremacy among businesses who share the same market with similar products |
| |
| Compressed Workweek |
|
| A work-scheduling practice where workers work the specified number hours across a period of less than a week |
| |
| Compulsory Arbitration |
|
| A arbitration process which union and management are summoned to a compulsory meeting often required by a third party |
| |
| Computer Chip |
|
| A small electronic component, which maintains microscopic integrated circuitry and provides processing logic for the transmission of data |
| |
| Computer Program |
|
| A set of instructions that tells the computer what is to be done, how and when to do it and the sequence of steps it must take |
| |
| Computer Programmer |
|
| A specialist who writes the computer programs which are based on an analysis of the problem, a breakdown of its component parts and an outline of the steps to be taken to provide a solution |
| |
| Conceptual Skills |
|
| The ability of a person to view a situation as unified whole whilst understanding its component parts and how they interact and integrate with each other |
| |
| Concurrency |
|
| A measure of the ability of the organisation, and its supply network where appropriate, to perform tasks at the same time in the development of products and services that are being brought to the market, eg. the ability to develop a product, its packaging, and its marketing programme at the same time. |
| |
| Conglomerate |
|
| A corporation, which has grown through merger or acquisition of other corporations, and which are unrelated in their strategies and types of business |
| |
| Consent Order |
|
| An order under which an accused firm agrees voluntarily to cease conduct, which the Government considers or alleges to be inappropriate |
| |
| Consideration |
|
| The value or benefit that each party renders to the other to satisfy a contractual condition to make to valid and enforceable |
| |
| Consumer Behaviour |
|
| The acts of individuals who acquire and use goods and services in an economic system |
| |
| Consumer Finance Company |
|
| A financial institution that supplies short-term finance to borrowers for the acquisition of consumer goods. Sometimes security may be required and pledged in the form og tangible items that are owned by the person requiring the funds |
| |
| Consumer Goods |
|
| Products and services acquired but the ultimate consumer or4 end user for their own use |
| |
| Consumer Price Index |
|
| A government measurement of a “basket of goods” designed to represent the average price changes for selected products and services from month to month which are used as economic indicators of the shifts that occur in an economic system |
| |
| Contingency |
|
| A provision made during a planning process to estimate or accommodate unforeseen events and expenditure. Used in budgeting and forecasting and especially in the development on new products and services |
| |
| Continuous Process |
|
| A manufacturing operation in which long production runs turn out finished products over a specified period of time |
| |
| Contract |
|
| A legally enforceable agreement between two or more parties regarding a specific act or thing |
| |
| Contract Carrier |
|
| A transportation company that carries goods for hire and reward by individual contract or agreement and not for the general public. Their services tend to meet the special needs of customers |
| |
| Contract Law |
|
| The Legal foundation on which normal business dealings are made |
| |
| Control Focus |
|
| The focus applied by management in a particular area to ensure that objectives are met eg Quality Assurance methods |
| |
| Control Unit |
|
| The part of a computer responsible for directing the sequence of operations, interpreting coded instructions and guiding the computer |
| |
| Controlling |
|
| A management function involved with evaluating the performance of an organisation to determine whether or not it is accomplishing its objectives |
| |
| Convenience Goods |
|
| Products that consumers seek to purchase frequently, immediately and with minimum effort |
| |
| Convertible Bonds |
|
| Bonds that offer the option of being converted in to a specific number of ordinary shares or common stock |
| |
| Cooling-Off Period |
|
| A specified period in a contractual agreement which allows the one or both parties to withdraw from the contract without any recourse or claim against the other |
| |
| Cooperative |
|
| An organisation whose owners band together to operate collectively all or part of their company or industry |
| |
| Cooperative Advertising |
|
| A sharing of advertising costs for a product or service or range of products between the manufacturer and/or wholesaler and retailer |
| |
| Copyright |
|
| The protection of an individual’s exclusive right to materials such as books, photos, works of art, songs |
| |
| Corporate Advertising |
|
| The promotion of a concept, idea, philosophy, or the good will of an industry, business enterprise or government entity |
| |
| Corporation |
|
| An association of persons created by statute as a legal entity with authority to act and have liability separate and apart from its owners |
| |
| Correlation Analysis |
|
| A statistical technical used to measure the relationship between two or more variables which can be positive, negative or non-existent |
| |
| Costing |
|
| The ability of the organisation to identify the costs of its business activities. |
| |
| Countertrade |
|
| Used in international bartering agreements, which requires the seller to reciprocate a purchase with the buyer |
| |
| Coupons |
|
| A type of sales promotion that uses advertising inserts or package inclusions that are redeemable for cash and offer purchase discounts |
| |
| Craft Union |
|
| A labour union consisting of skilled workers in a specific craft or trade |
| |
| Creative Selling |
|
| A persuasive type of promotional presentation used when the benefits of the product are not readily apparent and/or its purchase requires the analysis of alternatives |
| |
| Credit |
|
| A bookkeeping entry which records the decrease in an asset or an increase of a liability, or an increase in owner’s equity |
| |
| Credit Card |
|
| A small plastic card used in place of cash to acquire goods and services from a seller whereby the Bank who issues the card allows the buyer an extended period of time in which to pay for the goods |
| |
| Credit Insurance |
|
| Insurance designed to protect lenders against losses caused by the insolvency of customers to whom credit has been extended |
| |
| Credit Union |
|
| A member-owned financial cooperative that pays interest to member depositors, offers share draft accounts, offers short-term loans and some mortgage loans to its members |
| |
| Critical Path |
|
| The sequence of operations in a PERT of GANTT chart, which requires the longest time for completion. If a task on the critical path is delayed then the completion time of the whole project is also delayed |
| |
| Currency |
|
| A tangible component of money supply (coins and paper) which enable transactions to take place |
| |
| Current Assets |
|
| Items of value specified on a balance sheet that can or will be converted into cash within one year. eg cash, stock, debtors |
| |
| Current Liabilities |
|
| Claims by creditors that are usually paid within one year |
| |
| Current Ratio |
|
| A financial ratio that measures the company’s ability to pay its current debts as they mature. Calculation: Current Assets / Current Liabilities. A ratio of .75 would be in the danger zone. Ideally the ratio should be 1 to 1.5 or higher |
| |
| Cyclical Trend |
|
| Variations in sales or other business activities during the various stages of the business cycle |
| |
| Cyclical Unemployment |
|
| People out of work because of reduced levels of economic activity |
| |
