Category: O

A market that is dominated by a small number of competitors, who hold a large market share between them.

Training provided to inexperienced employees during the initial stages of employment. This is usually delivered by a professional trainer or an experienced employee, and typically consists of “hands-on” training. If supported by

Software that enables the user to send and receive reports generated from massive online databases.

This is an average price that is calculated based on the production and exports of all oil-producing countries, used as a reference point for checking the overall state of the oil business

When the same products can be distributed and sold in a particular region by multiple vendors. This is the opposite of exclusive distribution.

Buying and selling of US Treasury Funds by the Federal Reserve, intended to affect inflation, monetary supply and interest rates. Such operations are rare, as the financial sector usually takes similar action

1. Computing: A system designed according to known standards that can interact freely with other systems using the same standards. Open system standards must be fully defined, stable over a long period

Overall income, adjusted for depreciation and the amortization of costs and assets.

The use of GAAP in business accounting to create the appearance of goal attainment.

A contract that minimizes costs for all parties involved.

Bill of lading that allows a shipment to be discharged in multiple parts at multiple locations.

A document that confirms an order is being placed.

Debts that are not secured and have no special claim on the debtor?s assets. Secured and preferential debts will be satisfied before ordinary debts.

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

Costs incurred when an organization is first set up.

1. The arrangement of several entities into a logical pattern or structure. 2. Pulling together the resources necessary to achieve shared objectives.

A transaction that has resulted in the exchange of goods or services, but has not yet been paid for.

Any treatment an insurance policy holder receives that is outside of the usual service area.

1. Accounting: The sum of all costs that are incurred during the acquisition of an asset or property. Includes taxes, the retail price and additional charges for installation and delivery. 2. Economics:

A quantifiable result of an activity or process.