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KNOWLEDGE-BASED PAY

Earnings system that compensates employees skill level proficiency and gained education. The employee incentive is improve skills set and education. Reaching certain goals in education, training and skill development translates into higher employee earnings.

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KEOGH ACT PLAN

Also referred to as a HR-10 plan. A plan that allows those who are self-employed to set up a retirement plan and have access to tax benefits comparative to the benefits offered in corporate pensions. This plan was established under the Self-Employed Individual’s Tax Retirement Act.

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KEY PUNCHING

Keyboard or keypad driven computerized data entry. Prior to PCs, to issue commands or store data in the era of mini or mainframe computers, key punching was actual punching of holes in punch cards or paper tape.

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KICKOFF MEETING

Pre-launch gathering of stakeholders and prime movers of a program or project. Agenda is strategy, direction, roles, goals, and objectives.

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KNOCKED DOWN (KD)

An article taken apart, folded, or telescoped to reduce its shipping size by at least one third (33 1/3 percent) of its assembled bulk or size. Such articles, be they bicycles, fans, or furniture are packaged unassembled, with all components and assembly instructions. This takes advantage of better shipping rates and lower import duties.

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KONDRATIEFF CYCLE

Russian economist Nikolai Dmitrijewitsch Kondratieff (1892-1938) propose this cycle. The usual boom-bust cycles characteristic of a capitalist economy plays out over a period of about 60 years of major capital goods expansion in this long-duration economic cycle.

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KEOGH PLAN

In the US self-employed individuals and employees with no pension plan can set up this self-contributory saving or pension plan. New York Congressman Eugene J. Keogh proposed it. Individuals set aside a certain maximum of pretax income in this tax-deferred scheme. Like an individual retirement account (IRA), a Keogh Plan grows invested monies with no tax unless money is withdrawn prior to age 59

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KEY RATIOS

Business analysts evaluate a firm’s financial position and income using these financial performance measures. They are reliably indicate management competence, specifically when compared to previous periods or against a competitor’s ratios. Net income to average assets, also known as return on assets or ROA, net income to equity, also known as return on equity or ROE), net income to total investment, also known as return on investment or ROI, and net income to outstanding shares, also known as earnings per share or EPS are main examples of key ratios.

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KIDNAPPING COVERAGE

A package crime policy typically has this type of insurance coverage. Covers the dangers of a person captured against that person’s will, beyond the insured’s property, forced to enable a criminal act, such as opening a safe or telling how to do it.

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KNOCK-IN OPTION

Event-driven benefit payoff tied to something occurring like a specific change in an asset’s price. Contrast to knock-out option.

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KRAFT PAPER

At least 80 percent virgin wood pulp is in this strong brown unbleached paper.

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KERBEROS

User authentication scheme for Open source (non-proprietary) and public domain (free). A client-server environment’s network security system. Named after Greek mythology’s fierce three-headed guard dog. At user login and every service request, it verifies the user. To encrypt data It uses private or secret keys known as ‘tickets’. Contrast to public keys. Based on symmetric key cryptography and data encryption standard algorithms, it was developed at Massachusetts Institute of Technology (MIT).

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KEY SPLITTING

Security scheme requiring unifying parts so that a decryption key can be used. Separated parts occur by dividing a code number or decryption algorithm into two or more parts so that no single part in itself can be used.

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KIDNAP-RANSOM INSURANCE

Rather rare coverage found in few markets. No standard rates exist. A financial institution protects itself in case a named employee is kidnapped and to be ransomed.

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KNOCK-OUT OPTION

Event-driven benefit payoff tied to something not occurring like a specific change in an asset’s price. Contrast to knock-in option.

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KYOTO PROTOCOL

Industrialized countries excluding the US agree to reduce emissions of greenhouse gases. Negotiated in 1997 in Kyoto, Japan.

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KERMIT

Software named after the Muppet frog character in the children’s educational program, Sesame Street. Controls data exchanges between PCs and mainframe computers. It is an asynchronous file-transfer protocol, largely replaced by internet protocols (IP), but was once popular during the electronic bulletin board era. Automatic error detection and correction during transmission over ‘noisy’ telephone lines was its strength. Lack of speed was its weakness. Developed at Columbia University as an open source, non-proprietary and public domain, free software.

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KEY TASK ANALYSIS

Typically employed in managerial or supervisory level employee training. Determining the level of performance required, time taken, quality of outcome, and total job or project quality by the study of a set of operation(s). Also called key results analysis,

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KIDS IN PARENTS’ POCKETS ERODING RETIREMENT SAVINGS (KIPPERS)

Parents usually dip into retirement monies to offset extra bills when an adult child returns home unable to live because the expense is too great.

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KNOOP HARDNESS (KH)

Expressed in kilograms of force as a ratio of applied force. Penetration depth is measured in millimeters. Material hardness test of impact depth, not area. A pointed rhombohedral diamond is a highly polished, elongated pyramidical used to cause the impact.

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