Category: M

The nation’s economic relations with another nation as potential political issues. An example is a country’s middle class population revolting. Actions within or outside governmental control are viewed as potential risks.

Unsolicited marketing material in a bulk distribution occurring in the UK. Also refer to spamming.

The operational capability of a machine, plant, or system would be impacted but not be a catastrophe if this item were unavailable.

Beating, rolling metal into very thin sheets, allowing metal to be bent and twisted into practically any shape without cracking or rupturing as that metal’s characteristic.

Organizational development portion covering executive-level employees recruitment, assessment, and training to equip them for higher positions in leadership . This process typically includes: (1) cognitive thinking development, idea generation, and decision making,

1. In General, this is the handling of an implement or situation in an artful, expert, and skillful way. 2. In Law, this is appearing to deceive by false or misleading actions.

A deviation from design specifications during production resulting in a product’s defect, frailty or shortcoming.

Production run’s total cost increase or decrease for making one more item unit. Situational computation: When fixed costs have already been absorbed by the already produced items and only the direct, variable

Formulated 1890’s distribution theory. States that until its marginal product value, which is revenue or yield resulting from the input, equals the input’s cost, capital and/or labor input to production will continue

Monetary-derived total satisfaction difference due to monetary sum’s single unit change.

Interaction of demand and supply in the market generates the price signals that cause an ongoing and spontaneous coordination of separate economic activities of individuals engaged in a division of labor.

Stages of economic cycles, health of the economy, direction of interest rates, inflation, and stock-share prices factor into this timed shifting of money from one type of investment into another.

1. In Budgeting, this is a line-by-line budget review by a committee formed for the purpose of approval, disapproval, or modification. 2. In Distribution, this is the price increases at different stages,

Falling just short of outright fraud by giving a misleading impression of a firm’s financial position in the processing and presenting of the firm’s accounting data in this type of questionable manner.

Vicarious liability rule in agency law. A principal or employer is responsible and accountable for any negligent acts of the agent or employee. Even when the agent’s specific acts were unknown to

Purchasing, receiving, handling, storing, and delivering materials used in assembly or production processes all contribute to this type of cost.

A sector in decline or having slower growth than the overall economy. Contrast to a growth industry. Also known as sunset industry.

With no regard to cost or expense this is choosing the path with the best or highest expected outcome. By contrast, optimization is selecting the most cost-effective alternative. Also refer to satisficing.

Board feet of lumber symbol for one thousand, not 1 million. One MBF equals 2.36 cubic meters or 83.33 cubic feet. Also refer to MCF.

This type of organization is hierarchical and bureaucratic. It is characterized by its (1) highly centralized authority, (2) formalized procedures and practices, and (3) specialized functions. Mechanistic organization are relatively easier and