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

A quality control graph that shows the likelihood that a production lot will contain an acceptable number of defective items using various sampling schemes.

1. The whole process an input / output system undergoes to progress from initial to final state (which will be identical). 2. The average time to liquidate merchandise or raw materials.

Legal owner of oil and gas rights, including revenues produced, but also responsible for operating costs.

A margin that doesn?t include depreciation or taxes, calculated by dividing operating income by net sales.

Measures how much revenue remains after operating costs are deducted, so companies can develop appropriate pricing strategies for their products and services.

The time it takes a system to produce an output from the moment it is first requested by a user.

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.

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

The impact upon continued operations caused by accidents and disasters.

The performance of the company against prescribed standards, such as compliance with regulations, waste reduction, productivity, etc.

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

1. Any person or a device that enables another device to function. 2. A function used in mathematics, usually given a symbol (such as + or -). 3. In telecoms, one might

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

1. Abbreviation for operational excellence. 2. Also used as an acronym for operational expenses.

Exploiting situations for personal gain, without considering others.

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

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 cost of using a resource to acquire one thing instead of another. As all resources can be used in multiple ways, using them in one way invariably involves some opportunity cost.