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| Tactical Planning |
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| Planning which focuses on short-term implementation of current activities and the allocation of all associated resources |
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| Talent to System |
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| The level to which individual talent of professionally qualified personnel have released their core knowledge for incorporation into knowledge based systems and made available to all. The knowledge-based systems, it should be noted, are not all computer driven. The core measures are about the degree to which process, manufacturing or service talent is systematised within the organisation. |
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| Tangible Personal Property |
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| The ownership of physical items of any kind |
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| Target Market |
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| A group of consumers towards which a firm directs its marketing effort |
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| Target Return |
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| A pricing strategy whereby the desired profitability is stated in terms of particular goals, such as a 10% return on sales or investment |
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| Tariffs |
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| Taxes levied by the government on imported goods and services |
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| Tax Indexation |
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| The adjustment of income tax brackets according to inflation |
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| Taxes |
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| Monetary assessments in various forms both direct and indirect, which are levied by the government as a means of collecting revenue |
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| Technical Skills |
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| The ability of a person to understand and used technical skills, knowledge and tools of a specific discipline or department |
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| Technology |
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| A branch of knowledge that deals with science and engineering as it applies to industry and the applied sciences |
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| Technology Compression |
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| The reduction of the number of engineering and value added points through the supply chain over a period of time, which shifts the point of dominance in the chain. This has a tendency to change the nature of the supply chain and, in most cases, it will change the way, in which products are sold. |
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| Technology Transfer |
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| The provision of technical knowledge, processes and know-how to other nations, industries, corporations |
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| Term Insurance |
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| Insurance coverage protecting the individual for a specified number of years with no redemption value at the end of that period |
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| Termination |
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| Permanent separation resulting from poor job performance, repeated violations of work rules and policies, excessive absenteeism, misconduct, redundancy or closure of facilities |
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| Tertiary Industries |
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| Industries that generally belong to an economy’s service sector |
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| Test Marketing |
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| A stage in the new product development process where the product is sold in a limited area and evaluated for market reaction to the satisfaction of customer needs |
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| Theft Insurance |
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| Insurance coverage for losses due to the unlawful taking of property |
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| Throughput Accounting |
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| A management accounting technique to measure the costs of processes as the costs build up to a full cost at the completion of the product or service. Provides a better understanding of where costs occur and how they build up in the working of the business |
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| Ticker Tapes |
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| Large elongated screens that electronically display the transactions in the major stock exchanges around the world and over the counter transactions |
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| Time Deposit |
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| A technical name for savings accounts that permit a financial institution to require prior withdrawal notice or to assess an early withdrawal penalty |
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| Time series (Trend) Analysis |
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| A statistical technique used in identifying and interpreting changes in business activity over time in order to serve as a basis for forecasting future business activity |
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| Time Sharing |
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| The linking of several computer users of remote terminals to a central computer or server |
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| Time Wage |
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| Employee compensation relating to the amount spent on the job |
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| Title Insurance |
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| Insurance protection for real estate purchasers against losses that might be incurred because of a defect in the title to a property |
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| Top Management |
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| The highest level of management composed of the chief executive or managing director who works in collaboration with other key executives to develop the long term strategies for the organisation and who interact with government institutions and other external market associates |
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| Tort |
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| A civil wrongdoing inflicted on another person or property |
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| Trade Credit |
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| The short-term source of funds for making purchases on credit or open account |
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| Trade Show |
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| A type of sales promotion that uses exhibitions designed to promote products or services to retailers, wholesalers, international buyers and other resellers in the distribution channel |
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| Trademark |
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| A brand that has been given exclusive legal protection including the pictorial design and the brand name or logo device |
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| Trading Stamps |
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| A type of sales promotion that offers stamps that are redeemable for additional merchandise |
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| Transfer |
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| The horizontal movement of an employee within an organisation to another position, which attracts a similar salary |
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| Transistor |
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| A tiny device used to amplify current, which replace the vacuum tubes in computers and now superseded by the integrated circuit. Making them more reliable, faster, less heat generation and more economical to mass produce |
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| Transitional Systems |
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| Systems that have been put in place specifically to assist the organisation to achieve transition from one business evolutionary period to another. |
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| Treasury Bills |
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| Short-term borrowings issued frequently by a government on a competitive bid basis which are virtually risk-free and very easy to resell |
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| Trial Court |
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| A court of law with general jurisdiction operating at government level |
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| Tying Contract |
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| A contract that requires a person who wishes to be the exclusive dealer for a manufacturer’s product to carry other products of the manufacturer in his inventory |
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