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| Salary |
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| Employee compensation calculated on a weekly, monthly or annual basis |
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| Sales Branches |
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| Manufacturer-owned wholesaling operations that stock the items they distribute and process orders from their inventory; often specialise in large volume complex, perishable or highly competitive products |
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| Sales Law |
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| An offspring of contract law involving the sales of goods and services and the methods of payment |
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| Sales Maximisation |
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| A strategy under which management sets an acceptable minimum level of profitability and then tries to maximise sales |
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| Sales Office |
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| A manufacturer-owned office for sales people that provide close contacts for potential purchasers |
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| Sales Promotion |
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| A form of promotion other than advertising and personal selling that increases sales through one-time selling efforts such as displays, shows, exhibitions and demonstrations |
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| Sample |
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| A representative group from which data are collected |
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| Samples |
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| A type of sales promotion that uses distribution of free product as gifts to gain public acceptance and future sales of the product |
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| Scheduling |
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| A phase of production control involved in the development of timetables that specify how long each operation in the production process will take |
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| Scrambled Merchandising |
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| The practice of retailers who carry dissimilar product lines in order to appeal to customers seeking a one-stop shop |
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| Seasonal Trend |
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| Variations in sales or other business activities that occur during the year |
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| Seasonal Unemployment |
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| People who are currently unemployed because of seasonal hiring practices within their industry |
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| Secondary Boycott |
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| A boycott or work stoppage intended to force an employer to cease dealing in the product of another firm involved in a labour dispute |
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| Secondary Data |
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| Previously published information, which is used in course of carrying out research |
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| Secondary Market |
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| A market in which previously issued stocks, shares and bonds are bought and sold |
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| Secular Trend |
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| The general long-term growth or decline of specific firms, industries or the nation as a whole which may extend over several business cycles |
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| Secured Bond |
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| A bond, which is backed by a pledge of specific assets |
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| Securities |
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| Stocks, shares and bonds that represent obligations on the part of the issuers to provide purchasers with an expected or stated return on funds invested |
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| Selective Distribution |
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| A degree of market coverage somewhere between intensive and exclusive distribution, which occurs when a limited number of retailers are selected to distribute a company’ s range of products |
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| Seller’s Market |
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| A market situation which characterised by shortages |
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| Selling Expenses |
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| Expenses incurred in the marketing and distribution of products and services |
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| Seniority |
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| The length of time an employee has worked at a company or in a particular job or department |
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| Separation |
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| Employee departure or movement resulting from terminations, resignations, retirements and layoffs |
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| Serial Bonds |
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| A large number of bonds that are issued at the same time but mature at different times |
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| Services |
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| Intangible tasks which satisfy consumer and industrial needs when efficiently developed and distributed to chosen market segments |
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| Shop Steward |
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| A representative of a local union responsible for representing employees on a day-to-day basis within a company |
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| Shopping Goods |
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| Products purchased only after the consumer has compared competing goods in competing stores on bases of price, quality, style, colour, service and delivery |
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| Single Payment Policy |
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| A variation of whole life insurance that consists of a large premium paid in a lump sum at the time the insurance is purchased |
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| Sinking Funds Bonds |
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| Bonds whose issuing corporation makes annual deposits of funds for use in redeeming them when they mature |
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| Skimming Price Strategy |
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| A strategy of setting the price of a new product relatively high compared to similar goods and then gradually lowering it |
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| Small Business |
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| A business that is independently owned and operated and is not dominant in its field. |
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| Small Business Service (SBS) |
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| A government initiative designed to serve the needs of small business through a variety of sub initiatives applied according to economic need and geographical location |
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| Smokestack Industry |
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| A factory based business |
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| Social Responsibility |
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| Management’s consideration of the social effects as well as the economic effects of its decisions |
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| Software |
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| Logical sets of instructions know as a program that are written in a variety of specialised languages that instruct a computer what to do |
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| Sole Proprietorship |
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| The ownership and usually the operation of a business by a single individual |
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| Span of Management |
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| The optimum number of subordinates that a manager can effectively supervise |
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| Specialisation |
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| The division of work into components that permit a focused and concentrated approach to be taken when performing the task |
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| Speciality Goods |
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| Products that are particularly required by a purchaser who is willing to make a special effort to obtain them and is familiar with the item sought |
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| Specialty Advertising |
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| A type of sales promotion that consists of giving away items of nominal value branded with the donor company’s name |
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| Speculation |
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| The purchase of stocks and shares in anticipation of making a large profit over the short-term |
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| Speculative Risk |
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| The risk associated with certainty, uncertainty, profit or loss when evaluating a project or any aspect of it, or investment |
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| Staff Manager |
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| A manager who provides information, advice or technical assistance to line managers |
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| Staff to Line |
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| A Measure which compares the number of staff to the number of operatives compared to similar businesses in the same or competing sector |
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| Standardisation |
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| The unification of products and services that have interchangeable parts |
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| Statistics |
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| The collection, analysis, interpretation and presentation and information in numerical or graphical form |
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| Statutory Law |
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| The written law that include the treaties laid promulgated by government institutions such as central, regional, local and other ordinances for town and cities |
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| Stock Exchange |
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| The central institution where stocks, shares and bonds are bought and sold |
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| Stock Insurance Company |
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| An insurance company operated for profit |
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| Stock Turnover |
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| A productivity ratio, which describes the number of times the average inventory is sold annually. Calculation: Sales or Cost f Goods Sold / Average Inventory |
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| Stockbroker |
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| The intermediary who buys and sells securities for clients |
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| Stockholder |
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| The people who acquire shares, which allow them certain rights over the ownership of a corporation |
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| Stocks |
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| Share of ownership in a corporation |
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| Storage Warehouse |
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| A place that stores products for a relatively long period of time. Often used for seasonal products |
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| Strategic Administration |
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| The taking of action to ensure strategic performance. Includes staffing, compensation, communication, motivation, managing the board of directors and organising the top management team |
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| Strategic Business Unit (SBU) |
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| Any business, or part of a business, having its own balance sheet but, often, treating its parent as a bank. |
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| Strategic Control |
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| The process of monitoring the outcome of strategic plans and feeding this information back to management |
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| Strategic Implementation |
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| The process of putting a strategy into operation throughout an organisation with the help of middle management and operating staff |
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| Strategic Leadership |
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| The process of monitoring the resources in the organisation allocated to achieve strategic goals |
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| Strategic Management |
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| The process of aligning the internal capability of an organisation with the external demands of its environment including the need to allocate human and material resources effectively |
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| Strategic Planning |
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| The documentation process which outiline the major objectives of an organisation and the adoption of courses of action and the allocation of resources required to achieve the objectives |
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| Strategic Thinking |
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| The continuous process of managing strategy consistent with strategic goals and cultural values of the organisation. Strategic planning and strategic management for the basis of strategic thinking |
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| Strike |
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| Employees’ temporary work stoppage brought about by the failure to resolve a dispute between unions and management |
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| Strikebreaker |
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| A non-union worker hired to replace a striking worker |
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| Structural Employment |
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| People who lack the necessary skills for employment or those whose skills are no longer demanded by a particular industry |
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| Subsidiary |
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| A corporation with all or the majority of its shares owned by another corporation |
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| Supervisory Management |
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| The third level of management including people who are directly responsible for assigning workers to specific jobs and evaluating performance |
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| Supply |
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| A schedule of what sellers will offer in the market at various price levels |
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| Supply Chain |
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| The network of suppliers who supply all items which contribute to bringing a product to market in a business. It includes capital items, raw materials and consumable operating items such as stationery, etc… |
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| Supply Chain Performance |
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| The ability of the supply chain to meet demand such as the availability of raw materials. |
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| Supply Curve |
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| A schedule of amounts of a good or service that will be offered in a market at certain prices |
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| Surety Bonds |
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| Bonds that protect people or companies against losses resulting from the non-performance of a contract |
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| Surgical & Medical Payments Insurance |
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| Health insurance designed to pay for the costs of surgery, fees for medical specialists such as anaesthetists and physicians in after care and recovery |
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| Survey Method |
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| A method of acquiring primary data in which a researcher asks respondents questions to ascertain attitudes, motives and opinions |
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| Synthetic System |
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| A system that combines a number of raw materials or components into a finished product or changes raw materials into completely different finished products |
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| System |
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| An entity that maintains its existence and functions as a whole through the interaction of its parts |
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