Helpful terms

We’ve put together a list of terms we find helpful together with accompanying links to help you as you go through your business improvement process.
Business (122)

&ndash definition or meaning

An ndash is a punctuation mark. A dash that is the width of a capital N. It can be used to range a span of numbers, report results or scores, represent conflict, connection, or direction or for compound adjectives.

Category: Business

&ndash html definition or meaning

An ndash is a dash that is the width of a capital N . HTML is the standard markup language for creating web pages and web applications.

Category: Business

what are 10 key skills

1. Communication Skills. 2. Commercial Awareness. 3. Teamwork. 4. Leadership. 5. Resilience. 6. Confidence. 7. Organisation. 8. Influencing Skills. 9. Problem Solving Skills. 10. Positivity.

Category: Business

explain are you the gatekeeper

Are you a gatekeeper who monitors and assesses ideas before you let them pass through to the next stage of development … or are you the key master, the one who holds all the keys and tells people “get this into production and sell it” ?

Category: Business

attendance definition or meaning

Most employees are allowed a certain number of sick or personal days, but beyond that amount, excessive absences may require intervention by the boss. If allowed to continue unchecked, an employee’s poor attendance issues can affect other areas of the business.

Category: Business

both definition or meaning

Both /and is a type of logic used in decision making that allows for a greater variety and scope of outcomes than a rigid either/or decision making process. This approach is useful when comparing two or more possible tracks or outcomes in a real world setting.

Category: Business

explain business requirements template

A business requirements document template, sometimes called a BRD, is an important document relating to a business project. It details the business solution for a project including the documentation of customer needs and expectations. When a business or organisation relies on a template, it makes it far easier to define the project, its features and the anticipated outcome of the project or product in question.

Category: Business

definition or meaning of buy side vs sell side

The Buy Side refers to firms that purchase securities, and includes investment managers, pension funds and hedge funds. The Sell Side refers to firms that issue, sell or trade securities, and includes investment banks, advisory firms and corporations. Sell Side firms have far more opportunities for aspiring analysts than Buy Side firms usually have, largely due to the sales nature of their business.

Category: Business

what is cobblestone management

Cobblestone Management assist financial intitutions in their risk management practices with high quality, market-leading products and services.

Category: Business

who are concord

The Concord Review : A Quarterly Review of Essays by Students of History is an academic journal dedicated to publishing the research papers of high school students.

Category: Business

cross docking definition or meaning

Cross docking is a logistics procedure where products from a supplier or manufacturing plant are distributed directly to a customer or retail chain with marginal to no handling or storage time . When the outbound transportation has been loaded, the products can then make their way to customers.

Category: Business

what is cross elasticity of demand

The cross elasticity of demand is an economic concept that measures the responsiveness in the quantity demanded of one good when the price for another good changes. This measurement is calculated by taking the percentage change in the quantity demanded of one good and dividing it by the percentage change in the price of the other good.

Category: Business

definition or meaning of cross price elasticity of demand

The cross elascity of demand is the proportional change in the quantity of Y to a given proportionate change in the price of the related commodity X

Category: Business

daf definition or meaning

Delivered at frontier. Terms of sale signifying that the seller fulfills its obligations by delivering the goods at a specified point on the international border of the buyer’s country.

Category: Business

definition or meaning of absence

Time taken off work by an employee, split into authorised absence and unauthorised absence.

Category: Business

definition or meaning of cern

The European Organization for Nuclear Research.

Category: Business

definition or meaning of certification

Certification is a formal procedure by which an accredited or authorized person or agency assesses and verifies (and attests in writing by issuing a certificate) the attributes, characteristics, quality. qualification, or status of individuals or organizations, goods or services, procedures or processes, or events or situations, in accordance with established requirements or standards.

Category: Business

who are cobblestone

Cobblestone Software is a leading orovider of Enterprise Contract Management Software and eProcurement solitions for thousands of users.

Category: Business

definition or meaning of facility

A special feature on a computer, piece of software etc: that enables you to do something.

Category: Business

definition or meaning of follow up

Monitoring a job, enquiry, sale, etc to get feedback on the schedule, requirements, effectiveness, or other such factors.

Category: Business

definition or meaning of freight

A charge paid for carriage or transportation of goods by air, land or sea.

Category: Business

definition or meaning of gatekeeper

A locked door standing between you and the person you need to speak with. If youdo

Category: Business

definition or meaning of held

Held means kept in custody, possession, or storage, usually to satisfy a condition or requirement.

Category: Business

definition or meaning of hold

Hold is temporary unavailability of specific sums in a bank account to the accountholder. A hold may be placed on uncleared checks, or on funds that are pledged, for example, as collateral.

Category: Business

definition or meaning of mask

In computer science, a mask or bitmask is data that is used for bitwise operations, particularly in a bit field. Using a mask, multiple bits in a byte, nibble, word etc can be set either on, off or inverted from on to off ( or vice versa ) in a single bitwise operation.

Category: Business

definition or meaning of metadata

Metadata is data that provides information about other data.

Category: Business

definition or meaning of milestone

A milestone is a specific point in time within a project lifecycle used to measure the progress of a project toward its ultimate goal

Category: Business

definition or meaning of mirror image

In the law of contracts, the mirror image rule, also referred to as an unequivocal and absolute acceptance requirement, states that an offer must be accepted exactly with no modifications. The offerer is the master of one’s own offer.

Category: Business

definition or meaning of non specialist

A person who is not an expert or specialist in a particular subject.

Category: Business

definition or meaning of nonconformity

In quality management, a nonconformity (also known as a defect)is a deviation from a specification, a standard, or an expectation. Nonconformaties are classified as either critical, major or minor.

Category: Business

what are optimus

Optimus is an exclusive service platform developed and delivered by Togglenow to help businesses and organisations achieve and maintain full optimisation of their SAP environment.

Category: Business

definition or meaning of personnel

The body of people employed in an organization or place of work.

Category: Business

definition or meaning of position

A position is the amount of a security, commodity or currency which is owned by an individual, dealer, institution, or other fiscal entity.

Category: Business

definition or meaning of remaining

Remaining is an event that usually occurs when a company is insolvent, meaning it cannot pay it’s obligations when they are due. As company operations end, the remaining assets are used to pay creditors and shareholders, based on the priority of their claims.

Category: Business

definition or meaning of requestor

A formal, almost legal term for someone who asks for something.

Category: Business

definition or meaning of requisition

A requisition, in procurement, is a request for goods or services made by an employees to the person or department in a company that is responsible for purchasing. In this context, a requisition is also known as a purchase requisition.

Category: Business

definition or meaning of scope creep

Scope creep in project management refers to changes, continuous or uncontrolled growth in a project’s scope, at any point after the project begins. This can occur when the project is not properly defined, documented, or controlled. It is generally considered harmful.

Category: Business

definition or meaning of substitute

Substitute goods are goods which, as a result of changed conditions, may replace each other in use ( or consumption ). A substitute good, in contrast to a complementary good, is a good with a positive cross elasticity of demand. Conversely, the demand for a good is decreased when the price of another good is decreased.

Category: Business

definition or meaning of supplier

A supplier is a party that provides goods or services. A supplier may be distinguished from a contractor or subcontractor, who commonly adds specialised input to deliverables . Also called vendor.

Category: Business

definition or meaning of unavailable

When an item is out of stock or discontinued it is described as unavailable.

Category: Business

definition or meaning of vendor

A vendor is a person or business that supplies goods and services to a company. Another term for vendor is supplier. In many situations a company presents the vendor with a purchase order stating the goods or services, the price, delivery date, and other terms.

Category: Business

explain definitive software library

A software library is a suite of data and programming code that is used to develop software programs and applications. It is designed to assist both the programmer and the programming language compiler in building and executing software

Category: Business

deliverables definition or meaning

The word ‘deliverables is a project management term describing the quantifiable goods or services that must be provided upon the completion of a project. Deliverables can be tangible or intangible in nature.

Category: Business

explain the difference between public and private sector

The private sector is usually composed of organisations that are privately owned and not part of the government. These usually include corporations ( both profit and non-profit ) and partnerships. The public sector is usually composed of organisations that are owned and operated by the government.

Category: Business

digital vs electronic signature comparison

The main difference between these two is that digital signature is mainly used to secure documents and is authorised by certification authorities while electronic signature is often associated with a contract where the signer has got the intention to do so.

Category: Business

duties and responsibilities of a manager explained

The manager is responsible for overseeing and leading the work of a group of people in many circumstances.

Category: Business

explain duties and responsibilities of a business manager

Business managers are responsible for overseeing and supervising a company’s activities and employees. Small businesses rely on the business manager to keep workers aligned with the goals of the company. Business managers report to top executives in a larger organisation, but in a small company, the manager might either own the company or report directly to the owner.

Category: Business

explain e signatures

E-signatures should not include: 1. Unnecessary contact details. 2. Custom fonts. 3. Bullet points. 4. Animated gifs. 5. Videos. 6. Quotes. 7 Personal information. 8. Multiple colour fonts. 9. An image as your email signature. 10. Links to unused accounts or old posts.

Category: Business

definition or meaning of elasticity measures

The price elasticity of demand measures the sensitivity of the quantity demanded to changes in the price. Demand is inelastic if it does not respond much to price changes, and elastic if demand changes a lot when the price changes. Demand is elastic when there are close substitutes.

Category: Business

what is a gatekeeper

The person responsible for keeping a decision-maker from being bothered by what she or he considers to be irrelevant and bothersome visitors and callers.

Category: Business

gatekeeper definition or meaning

A junior officer ( such as a secretary ) who has the authority or ability to control access to a decision maker or to certain information.

Category: Business

explain gatekeeper media

Gatekeeping is the process through which information is filtered for dissemination, whether for publication, broadcasting, the internet, or some other mode of communication.

Category: Business

explain global solutions

A way of dealing with a difficult situation that can help countries or companies in every part of the world. / A professional collection agency specialising in the collection of commercial accounts nationwide and international.

Category: Business

definition or meaning of business intelligence

Business intelligence is the use of computing technologies, applications and practices for the collection, integration, analysis, and presentation of business information.

Category: Business

what does iaccm mean

The International Association for Contract and Commercial Management enables public and private sector organisations and professionals to achieve world-class standards in their contracting and relationship management process and skills.

Category: Business

who are insight express

InsightExpress is an industry leading marketing research and data analytics provider, specialising in the measurement of brand communications.

Category: Business

who are lawson

Lawson is a leading enterprise resource planning (ERP) software company.

Category: Business

learning curve definition or meaning

This is a graphical representation of the common sense principle that the more one does something the better one gets at it. Learning Curve shows the rate of improvement in performing a task as a function of time or the rate of change in average cost ( in hours or pounds) as a function of cumulative output.

Category: Business

definition or meaning of managed

To control something, such as a project, team of people or idea. To complete a goal or project.

Category: Business

explain manager responsibilities

Entrusted with a leadership role, a manager is responsible for overseeing a department or a group of employees within a specific organisation or company. Managers are utilised in every sector, and the business model relies on their leadership and ability to operationalise the management structure.

Category: Business

definition or meaning of manager roles and responsibilities

The manager is responsible for overseeing and leading the work of a group of people in many instances. The manager is also responsible for planning and maintaining work systems, procedures, and policies that enable and encourage the optimum performance of its people and other resources within a business unit.

Category: Business

who are ming

Ming Labs work across digital strategy, internal enablement and work-class UX production to create digital products that change mindsets and behaviours.

Category: Business

mirror image definition or meaning

In the law of contracts, the mirror image rule, also referred to as an unequivocal and absolute requirement, states that an offer must be accepted exactly with no modifications. The offeror is the master of one’s own offer.

Category: Business

what does ocr stands for

Optical Character Recognition is a technology that recognizes text within a digital image. It is commonly used

Category: Business

who are optimus consulting

Optimus Consulting are at the forefront of developing innovative data and analytics software platforms. They have proven proprietary and scalable software for data modeling, scientific testing, and audience targeting.

Category: Business

who are optimus solutions

Optimus Solutions offers unique and innovative management solution to small and medium sized business.

Category: Business

definition or meaning of own price elasticity

The own-price elasticity of demand is often simply called the price elasticity. For example, if the price of a good increases by 5 percent and the quantity demanded decreases by 5 percent, then the elasticity at the initial price and quantity is -5%/5%=_1 .

Category: Business

pegging definition or meaning

Pegging in commodities trading : Control by commodity exchanges of price fluctuations by tying the daily trading limits to the previous trading day’s settlement( close ) price. In currency trading : Control of exchange rate fluctuations by a government through (1) tying a currency’s value to the value of a stronger currency, (2) buying and selling own currency to increase or decrease its demand, (3) securities trading : manipulation of a new issue’s market price by its underwriter through large purchases on the stockmarket. Siimilar manipulation of already issued securities is illegal.

Category: Business

playbook definition or meaning

A business playbook contains all the pieces and parts that make up your company’s go-to approach for getting things done. This includes ” process workflows, standard operating p

Category: Business

explain excellent guest service

Excellent customer service means making each and every aspect of the customer’s experience an absolutely positive one. Good customer service means meeting expectations-but excellent customer service means exceeding them.

Category: Business

prefix definition or meaning

A prefix is an affix which is placed before the stem of a word. Adding it to the beginning of one word changes it into another word.

Category: Business

explain price elasticity of demand measures

Price elasticity of demand (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price when nothing but the price changes. More precisely, it gives the percentage change in quantity demanded in response to a one percent change in price.

Category: Business

private practice definition or meaning

Private practise is the practise of one’s profession as an independent rather than as an employee.

Category: Business

who are professional advantage

Professional Advantage is a leading global developer for additional modules to Infor SunSystems, as well as being the top Infor Partner for Asia Pacific.

Category: Business

explain project implementation

To implement a project means to carry out activities proposed in the application form with the aim to achieve project objectives and deliver results and outputs. It’s success depends on many internal and external factors. Some of the most important ones are a very well organised project team and effective monitoring of project progress and related expenditures.

Category: Business

replication definition or meaning

Observations made under identical conditions / Duplication or reproduction of a test result at another location or time.

Category: Business

what is a requirements template

A product requirements template (PRD) is a document containing all the requirements to a certain product. It is written to allow people to understand what a product should do. PRDs are most frequently written for software products, but can be used for any type of product and also for services.

Category: Business

requisition definition or meaning

A requisition, in procurement, is a request for goods and services made by an employee to the person or department in a company that is responsible for purchasing …. in this context, a requisition is also known as a purchase requisition.

Category: Business

reservation definition or meaning

The meaning of a term in a legal document as explicitly stated in that document, otherwise it’s statutory meaning ( if it exists ) or the customary meaning in the circumstances.

Category: Business

explain save search

To save a single search, either select it and click the Save button, or click the More button and then select the Save option. To save one or more selected searches, select the searches and then click the Save button. To save the search history, click the Save All button.

Category: Business

scope creep definition or meaning

Scope creep in project management refers to changes, continuous or uncontrolled growth in a project’s scope, at any point after the project begins. This can occur when the scope of a project is not properly defined, documented or controlled.

Category: Business

explain search and status

A search and status report is generally asked for by the bank or financial institution while granting loans or working capital facility to a company. It acts as a progress report on the legal aspects and also shows the exact position on loans and borrowing of the company.

Category: Business

segment definition or meaning

A business segment is a part of a company that can be identified by the products it provides or by the services or geographical locations it operates in. In other words, it is a single part of a business that can be distinctly separated from the company as a whole based on its customers, products, or market places.

Category: Business

definition or meaning of segmented bar chart

Segmented Bar Charts are one of the most popular charts used in Statistics. They are a type of stacked bar chart. Stacked Bar Graphs segment their bars of multiple datasets on top of each other. They are used to show how a larger category is divided into smaller categories and what the relationship of each part has on the total amount.

Category: Business

explain signature block

A signature block (often abbreviated as signature, sig block, sig file, sig, dot sig, siggy or just sig) is a block of text automatically appended at the bottom of an email message, Usenet article, or forum post. An email signature is a block of text appended to the end of an email message often containing the sender’s name, address, phone number, disclaimer or other contact information.

Category: Business

explain signature rules and guidelines

As a signature can obligate a party to terms of a contract or verify that a person intended to make a last will and testament, the law has developed rules that govern what constitutes a legally valid signature. The signature is

Category: Business

explain small business thank you

Sending a simple thank you letter goes a long way in strengthening strong and long-lasting business relationships. Whoever you want to thank it doesn’t matter. Expressing your gratitude in writing makes the recipient feel good and by doing so you nuture continued loyalty to your business.

Category: Business

smat definition or meaning

Smart is an acronym that is used to guide the development of measurable goals. Each objective should be 1. specific. 2. Measurable w/ Measurement. 3. Achievable. 4. Relevant. 5. Time-Oriented.

Category: Business

what is the sodexo portal

Sodexo Motivation has launched an online incentive and reward product. Its Reward Portal Premium allows employers to recognise employees’ work by using a choice-based approach to incentivising and rewarding staff. Employees can collect recognition points for various achievements and then select their reward from an online reward catalogue.

Category: Business

sor definition or meaning

A system of record (SOR) is a data management term for an information storage system ( commonly implemented on a computer system running a database management system ) that is the authoritative data source for a given data element or a piece of information.

Category: Business

sow definition or meaning

A statement of work (SoW) is a document routinely employed in the field of project management. It defines project-specific activities, deliverables and timelines for a vendor providing services to the client.

Category: Business

specific performance definition or meaning

Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific act, such as to complete performance of the contract. Specific performance is commonly used in the form of injunctive relief concerning confidential information or real property.

Category: Business

specific performance definition or meaning

Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific act, such as to complete performance of the contract. Specific performance is commonly used in the form of injunctive relief concerning confidential information or real property.

Category: Business

spend matters definition or meaning

Spend Matters Plus/ and Spend/Matters Pro are paid member programs that deliver procurement and supply chain professionals an information advantage by providing original thought, insightful analyses, and unbiased opinion that doesn’t hedge, obfuscate, or pander.

Category: Business

what is a statement of work template

A statement of work ( SOW ) is a document that describes the terms and objectives of a project or service contract, including the scope of work required to meet the objectives, costs, deliverables, timeliness and other expectations. The benefits of using a statement of work template, which can be found in Microsoft Word and Excel formats, are clear. They save time, are easy to use and provide the key sections needed to create a comprehensive SOW.

Category: Business

meaning of price elasticity of demand

The price elasticity of demand measures the sensitivity of the quantity demanded to changes in the price. Demand is inelastic if it does not respond much to price changes, and elastic if demand changes a lot when the price changes.

Category: Business

those in glass houses meaning

This means that you should not criticise other people for bad qualities in their character that you have yourself

Category: Business

explain those who live in glass houses

This means that you should not criticise other people for bad qualities in their character that you have yourself.

Category: Business

who are touchstone group

The Touchstone Group PLC provides business software solutions worldwide.

Category: Business

what is a tracking sheet template

The tracking plan template is where you put tracking information. When an ad is clicked, the information is used to create your Landing page URL. A tracking template at the ad group, campaign, or account level applies to all of the ads in the corresponding ad group, campaign or account.

Category: Business

what are types of case study

A case study is a research method that relies on a single case rather than a population or sample. There are three primary types of case studies : 1. Key cases are those which are chosen because the researcher has a particular interest in it or the circumstane

Category: Business

unit rule definition or meaning

Unit Rule refers to a method adopted to determine the value of real property subject to separate estates. According to the unit rule damage must be apportioned to each interested party in the ratio thar his actual damage bears to the total actual damage.

Category: Business

explain we got you covered

This means that everything that is needed is done or provided for. In insurance everything is covered.

Category: Business

concord definition or meaning

Concord is an amicable agreement between two or more entities or organisations, specially among nations. It’s the opposite of discord and also called concordance.

Category: Business

elasticity of demand definition or meaning

The price elasticity of demand measures the sensitivity of the quantity demanded to changes in the price. Demand is inelastic if it does not respond much to price change, and elastic if demand changes a lot when the price changes. Necessities tend to have inelastic demand.

Category: Business

ocr definition or meaning

OCR stands for “Optical Character Recognition”. OCR is a technology that recognizes text within a digital image. It is commonly used to recognize text in scanned documents, but it serves many other purposes as well.

Category: Business

sme definition or meaning in business

SME (small to medium enterprise) is a convenient term for segmenting businesses and other organizations that are somewhere between the “small office-home office ” ( SOHO ) size and the larger enterprise. The EU has defined an SME as a legally independent company with no more than 500 employees.

Category: Business

explain what is a gatekeeper

The gatekeeper is essentially a locked door standing between you and the person you need to speak with. If you don’t explain yourself in the right way, your message will never be delivered. Small businesses where the owner is often present do not typically have a gatekeeper.

Category: Business

explain what is a procurement specialist

Procurement specialists, sometimes referred to as purchasing managers, generally manage contracts with a company’s vendors to ensure best prices. They generally oversee the ordering of materials a business uses in producing goods.

Category: Business

signature block explanation

The signature block in a business email does the work of the heading or letterhead found in the format of a business letter. This is the last item in an email. Signature blocks often contain the name of the party, the names and titles of people ( either entities or human beings ) signing on behalf of that party, and contact information for that party,

Category: Business

definition or meaning of a statement of work

A statement of work is a document that defines a project’s objectives, scope and deliverables. It is a working agreement between two parties. The purpose of a SOW is to ensure project sponsors and stakeholders understand what needs to be done, who is responsible for the work and how it will be accomplished. By defining these elements up front, project managers can make better decisions, avoid confusion and costly scope creep.

Category: Business

what is a survey definition or meaning

Survey research is the collection of data attained by asking individuals questions either in person, on paper, by phone or online. Businesses use surveys to gather information about customer attitudes and experiences to help market consumer products,

Category: Business

mirror image definition or meaning

The mirror image rule is used throughout the business environment and is based on the requirement for an absolute and unequivocal acceptance to an offer to create a contract, with anything less than that constituting a counter offer that effectively rejects the original offer.

Category: Business

rfp process definition or meaning

A Request for Proposal, or RFP, is a document that a business, non -profit or government agency creates to outline the requirements for a specific project. They use the RFP process to solicit bids from qualified vendors and identify which vendor might be the best qualified to complete the project.

Category: Business

mirror image rule definition or meaning

The mirror image rule is used throughout the business environment and is based on the requirement for an absolute and unequivocal acceptance to an offer to create a contract, with anything less than that constituting a counter offer that effectively rejects the original offer.

Category: Business

explain what a vendor is

A vendor is the person or business that supplies goods or services to a company. Another term for vendor is supplier. In many situations a company presents the vendor with a purchase order stating the goods or services needed, the price, delivery date and other terms.

Category: Business

explain why is integrity important

Integrity in business , or the lack thereof can have a significant impact on the long- term success of any business. It is perhaps the most important principle of leadership because it demands truthfulness and honesty.

Category: Business

definition or meaning of win every time

In business, when we define the win as one outcome -a sale, an innovation, or reaching a quarterly goal, for example- our definition is too narrow. It creates a culture where we “fail” more than we succeed. Creating an environment where you and your team can win every day allows you to build on previous successes and improve morale.

Category: Business

work center definition or meaning

The Work Centre is the section of a production facility where all tasks associated with a particular process ( such as assembling, painting, welding ) are performed.

Category: Business

workweek definition or meaning

A work week is the amount of time during a normal week which you spend doing your job.

Category: Business

what is www docusign com

Docusign is a company based in San Francisco that helps organizations connect and automate how they prepare, sign, act on and manage agreements. They offer eSignature: the world’s no 1 way to sign electronically on practically any device, from almost anywhere, at any time.

Category: Business

what does you are the weakest link mean

The No 1 weak link for business when it comes to cyber security- is the people who work in the business. Educating employees on cyber risks is a key step, but this does require resources, and the participation of employees.

Category: Business

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