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

Category: Finance

SKILL BENCHMARKING

A process used to identify the levels of competency that are needed to complete a particular job or project.

SLAB

An ingot of metal that has been rolled flat and no wider thicker than 10 inches and around 20 feet long.

SLUSH FUND

A reserve of money held secretly by a company that has no accountability for its use.

SMOKING GUN

A piece of information or a document that bears evidence that is indisputable to back up a claim.

SOCIAL DARWINISM

A theory that is used to explain success of social groups over other social groups. Only the strongest will survive, Cahrles Darwin and Origin of Species.

SOCIAL NETWORK

The people, family and frinds that form a system that is interconnected where alliances will be formed, information swapped and strings pulled.

SOCIALIZATION

The process where people acquire knowledge, social skills, and language to be able to conform to the workings of a society.

SOFT SELLING

A philosophy used to sell goods and services by first finding the cistomers needs and wants. Differs from a hard sell using psychological pressure for a fast sale.

SOIL EROSION

The removal of the soil that is faster than the processes involved in creating soil can produce it. It results in land becoming infertile and open to attack by flooding.

SONIC BOOM

The shock waves heard and felt when an aircarft of any sort travels at the speed of sound.

SPECIAL ASSESSMENT

A tax that is levied on properties in an area to provide for infrastructure such as street lighting and footpaths.

SPECIAL PERSONAL PROPERTY FORM

A form that has been nearly replaced by Building and Personal Property Coverage Form and covers commercial risks for all perils.

RATE OF EXCHANGE

The rate of exchange is the monetary value of a determined amount of foreign currency on any given day.

RATIONAL CHOICE THEORY (RCT)

Attempts to explain social phenomenon in terms of how self-interested individuals make choices under the influence of their preferences. All parties try to maximize their advantage, and to minimize their disadvantages.

REACTIVE STRATEGY

A reactive strategy occurs only when a management team or a manager is pushed or pressured into taking action to the changes that have taken place in a firm?s development.

REAL INVESTMENT

Real investment is money that is invested in tangible and productive assets such as machinery and plant, as opposed to investment in securities or other financial instruments.

REASONABLE PERSON

This term refers to an ordinary person who exercises care while avoiding extremes of boldness and carefulness. This term does not apply the same to each as each age group behaves differently.

RECENCY ERROR

A Flaw or Inaccuracy in performance appraisal or job interview, caused by the evaluator or the interviewer’s dependence on the most recent occurrences of the employee or the applicant’s behavior.

RECOMMENDED DAILY ALLOWANCES (RDA)

Pre-1995 US FDA standards used by food manufacturers in declaring nutritional values of the components foods on the label. Replaced in 1995 by % DV for 10 mandatory and 22 optional food

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