Subsidiary of any corporation that is run like an independent company. An operating unit has its own structures, assets and liabilities, distinct from those of the parent corporation.

Willingness and ability to accept behaviour or beliefs that are different to one?s own or to those of the mainstream.

Designing and overseeing business operations that contribute to the achievement of the company’s overall strategy.

A system or device that is designed around common standards and is independent of individual vendors. Thus, any vendor is able to create programs or interfaces for the system or device, and

1. To run some part of machinery or a business. 2. To function properly. 3. To perform medical surgery.

All those agents or forces that are out of an organization’s control, but can accelerate or restrict the organization?s success.

Situation in which the commitment of resources may lead to unforeseen gains, but containing an element of risk.

The likelihood that a loss will be incurred by committing resources to one opportunity, preventing the pursuit of better opportunities in the future.

Income generated with the intention of purchasing assets that will ultimately yield a higher rate of return.

A legal outcome that automatically occurs whether or not the affected party intends it to.

The initial figures used in a financial plan. For established businesses, these figures are based on the balance sheet from the previous accounting period. For new businesses, the figures are based on

The best or most valuable, although not necessarily in all circumstances. For instance, the candidate who best satisfies the criteria for a job would be the optimal candidate.

Footnote reference term, referring to a title previously cited in another footnote.

Production level resulting in the lowest cost per unit.

A contract that minimizes costs for all parties involved.

A non-profit fund to help people on low incomes. Provides assistance through education, affordable mortgages, micro-savings and micro-loans.

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

The scanning of printed text into characters that a word processor can recognize, removing the need to re-type printed text.

The solution that best utilizes available resources to achieve the company?s aims. No amount of tinkering will improve such a solution. Such solutions are difficult to ascertain statistically and are normally generated

Explicit permission to continue sending marketing information to an individual. Once this permission has been acquired, the individual must generally choose to opt out to stop receiving marketing materials.