Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Search Results for: achieving

Starting an LLC in Maryland: A Comprehensive Guide

Forming a Limited Liability Company (LLC) in Maryland can be an exciting step for entrepreneurs and small business owners. This business structure offers numerous benefits, including personal asset protection and flexible tax

Starting an LLC in Wisconsin: A Step-by-Step Guide

Forming a limited liability company (LLC) in Wisconsin can be an exciting step for entrepreneurs or small businesses. LLCs offer protection for personal assets and potential tax benefits, but the formation process

What Is Domestic Tranquility?

When most people think of the U.S. Constitution, they think of things like the right to free speech or the right to bear arms. But in its first sentence, the Constitution sets

OPTIMIZED PRODUCTION TECHNOLOGY (OPT)

Production system that takes account of capacity constraints in the production process and does not attempt to continuously operate at full capacity. The aim is not to produce as many units as

LIVING TRUST

Revocable trust as an estate planning device, built on property transfer or gift to one or more beneficiaries from its living trustor. It is not a way to stave off creditors from

LONG TERM PLANNING

Activities of formulating a long-term plan. Future needs estimating typically is an extrapolation of present or known needs. The extrapolation for achieving interim goals starts with current status, projected status roadmap, includes

KEY PERFORMANCE INDICATORS (KPI)

Key business statistics as measures of a firm’s performance in critical areas. Typically, monitoring is essential for such business activities that would likely cause severe losses or outright failure if done incorrectly.

LOW COST STRATEGY

A company offers a relatively low price as a pricing strategy, seeking to stimulate demand and gain market share. One of three generic marketing strategies. Refer to differentiation strategy and focus strategy.

FRAMING

Scoping, boundary setting. Achieving a desired result or obtaining a precise answer by presenting a context around an idea or an event, an approach or query to influence perception.

GOAL SEEK

Also known as scenario analysis. Mapping and tracking one or more sources of data into a proposed process to potentially achieve a desired set of one or more expectation. Using varying steps

FRUSTRATION OF CONTRACT

Legal termination of a contract. Forgives non-performance. Except where contract terms override this implied legal provision, it automatically discharges the contract. It is not acceptable as an reason against foreseeable circumstances. It

EXOGENOUS VARIABLE

An external, independent variable having affect on a model, but not affected by the model. The model builder specified the variable but set no qualitative characteristics or value generation method. An exogenous

EFFICACY

1. Effectiveness. Likelihood of achieving desired end by expending effort. Example: Evaluate changes for their efficacy to produce desired result; if unsure the changes will do the job, reevaluate our plan. 2.

EFFICIENT FRONTIER

Achieving the best risk-to-reward ratio for a given asset under existing circumstances. Maximum return from minimum risk result.