Category: K

Electrical power consumption measure of a standard unit equal to 1000 watts in an hour. Equivalent to 860 kilocalories, or 3412 British thermal units (Btu) as a measured consumption rate.

Experience, information, knowledge, learning, and skills of the employees of an organization tallied into expertise, high-capability. Knowledge capital is an essential component of human capital. Knowledge capital builds the longest lasting competitive

A budgeting approach that includes product improvement costs. With the objective of reducing actual costs below standard costs, projected costs of improvement are already incorporated in the budget . Also refer to

Essential, main employee stakeholder in corporate operations. May be an officer with voting rights able to influence the company. Any employee owning company assets 5% or more of the total and/or receives

Supporter of governmental economic intervention by public policies driving for full employment and price stability. A follower of John Maynard Keynes, a believer in his economic principles.

Standard demand curve with a bend depicting competitors decreasing prices to match another’s, yet not raising prices to match another’s. Concern is that raising prices lose customers, so that once a business

Defined by Ikujiro Nonaka, interactions between explicit and tacit knowledge form new ideas. Socialization (tacit to tacit), externalization (tacit to explicit), combination (explicit to explicit), and internalization (explicit to tacit) are the

Reducing product costs even if being produced. A process involving effective waste management, continuous product improvement and raw material price reduction. Cost minimization is a strategy in overall product cost reduction.

Copy or copies of a code, password, or secret key protected by a third party for use in an emergency or when the originals) is(are) lost. Escrowed items may be separated to

British economist John Maynard Keynes established this economic theory. A stable, growing economy requires active government intervention is the concept embodied by the theory.

When medium term interest rates are higher than low or high. Refer to negative yield curve, yield curve, and positive yield curve.

Building, evaluating, and trading knowledge is the basis of this economy. Labor costs slowly decrease in importance while dwindling concern occurs over scarcity of resources and economies of scale, traditional economic concepts.

Fineness, as a measure of the purity, of gold. It also indicate gold proportion in an alloy. UK spelling of both carat and karat is carat. Germany spelling is karat. 24 karats

Organization’s and Labor market’s common jobs used to determine general pay scales. Clerks, drivers, janitors, and secretaries are examples of common jobs.

Because the economy is in recession, employers have low demands for their goods and services, situation exists where low wage-rates should drive to higher employment levels, but do not.

Upright, retail outlet display or entry-port in a large retail establishment or a shopping mall to assist customers.

Building of an organization’s intellectual assets by strategies and processes. Driving to identify, capture, structure, value, leverage, and share, enhancing results and market share. Two critical activities are its basis: (1) retain

The foundation of communism evolved from this revolutionary socialist thinker. He strongly opposed capitalism, believing it would destroy societies by increasing tensions and disparity between workers and owners. His theories and ideas

For encryption-decryption security, private decryption keys have no expiration, an indefinite lifetime. Secret keys, however, have terminal lifetimes that need to be defined in an organization’s security policy.

Gross margin equaling cost price or half the sale price. Said another way, any item selling at twice the wholesale cost, purchased or produced, has a keystone markup.