Category: O

Organic organizations consist of employees of similar status without formal job titles or responsibilities, so individuals can perform the tasks to which they are best suited. Decision making is informal without resort

Principles and practices that define the unique atmosphere within an organization.

Initial induction of new employees into organizations. Objectives include developing employee commitment, easing anxiety, promoting organizational expectations and explaining what the employee can gain from working with the organization.

Classification term that applies to minor assets (e.g. scrap value of outmoded equipment) when recorded on balance sheets.

The state of a process when outputs / samples are no longer within statistical control. A control chart of such a process will show data points that are not clustered around the

1. A statistical data point that lies outside of normal distribution. 2. A person who lives or works far from major conurbations.

A measurable standard that expresses the amount of energy, work, goods or services a process should produce in a given period.

When a certification authority approves a greater payment than is actually due.

Occurs when spending money to improve a property is no longer the best use of the property, or is too expensive when compared to the cost of improving other properties.

Activity that occurs when feedback or corrective action is delayed or poor. Most evident in the collapse of economic cycles and social units, when natural resources are exhausted and when an ecosystem

On their financial statements, a company reports payments received for products or services.

A standard that is based on factual measurements, in the absence of a biased judgement or analysis. TLD Example: The use of a reasonable person standard to determine whether someone acted negligently

The requisite that the number of assumptions be kept to a minimum. The simpler of two assumptions is usually assumed in the event that both of them are equally valid.

Failure to meet the prescribed specifications or standards.

An executive department under the U.S government that handles matter related to the international trade policy. The USTR recommends trade policies and takes part in trade negotiations by working closely with the

Cards that have a slight delay in the processing of the seller’s transactions and as such the seller’s account is only credited with the amount after two days. In comparison, funds are

Accomplishment of tasks by a third party service provider or manufacturer that saves the company on monetary and labor costs.

A market in which a small number of businesses compete almost exclusively with each other.

An interview, meeting or courtroom session of which a written, audio or video record is kept as permanent evidence.

A service that enables users to access their bank accounts, conduct transactions and view their transaction history via the Internet (rather than over the telephone or in person).