Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

MAJOR NONCONFORMANCE

The failure, or significant usability reduction of a facility, machine, plant, program, project, or system that is likely to result in a non-critical non-conformance.

MAKE A MARKET

Over the counter trading of a particular security by a dealer able, ready, and willing to buy and/or sell.

MAKE READY

To change from one job to another or a machine operation setup.

MAKE-UP AIR

Ventilating equipment to heat or cool circulates purchased fresh outside air throughout a building.

MAKE-GOOD

Rerunning the corrected ad or correctly timed commercial as a promise to ‘make an error good’ by a medium. Newspaper, magazine, radio or TV station as an advertising medium gives an advertiser

MAJOR ITEM

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

MALL INTERCEPT

Asking questions of shoppers in a mall will take place for the purpose of marketing research conducted as one type of interviewing.

MANAGED ACCOUNT

Investment manager administered and supervised investment account, containing one or more investor’s invested the funds. In proportion to their contribution to the account, these investors share in the gains and losses.

MALWARE

Unauthorized, destructive action designed from surreptitious invasion of a computer system by this type of software code. Refer to virus.

MALNUTRITION

An insufficient, poor, sub-nutritional diet or an excessive, rich but unbalanced diet tied to a lack of calories and/or essential minerals, proteins, vitamins, manifests as a diseased state of kwashiorkor, marasmus, oedema,

MAJOR HOSPITALIZATION POLICY

Only covers expenses from the time the insured is hospitalized is a policy that is essentially the same as major medical insurance.

MANAGEMENT BY WALKING AROUND (MBWA)

Unstructured approach of keeping a finger on the pulse of the organization by collecting qualitative information and listening to suggestions and complaints. Hands-on, direct manager participation in subordinates’ work-related affairs. Managers make

MANAGEMENT AUDIT

A systematic organizational management assessment. Evaluates sufficiency of methods and policies. Resource administration and use, tactical and strategic planning, and employee and organizational improvement are this action’s focus.

MANAGEMENT DEVELOPMENT

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,

MANAGEMENT BY RESULTS

Objectives planned determine if results are worthwhile and contributing to an organization’s mission and goals in this process management style.

MANAGEMENT BUY OUT (MBO)

Existing management’s purchase of a firm or one of its divisions generally occur when the parent firm wants to divest a subsidiary or the firm or its division is threatened with closure.

MAJOR FACILITY

25,000 square feet or more of usable floor area earns a building this designation.

LUX (LX)

Surface illuminance metric (SI) unit. Defined as an illumination of one lumen per square meter. In contrast, sunshine gives 80,000 to 100,000 lux to the surface it hits. Also refer to luminance

LONG COUPON

On a bond, a longer period is covered by this specific interest payment than other coupons. The first interest installment is typically associated with a long coupon.

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