glossary is a list of some of the more common expressions
used in Business Coaching and Information Technology
Engineering. Please contact us if there are other
words or phrases you would like us to add.
An identifying mark, symbol, word(s), or combination
of same, that separates one company's product or service
from another's. BRAND is a comprehensive term that
includes all BRAND NAMES and TRADEMARKS.
Break Even Point
The point at which revenues just equals costs. The
point is located by "break-even analysis",
which determines the required volume of sales (at
a given price) at both which fixed and variable costs
will be covered. All sales beyond the break-even point
produce Success; any drop in sales below that point
will produce losses. PLAN B, an alternative plan,
ready for action, in case the principal plan of action
is unsuccessful; a backup plan.
1) the mental ability to make a rational decision,
2) the ability to produce during a given period, with
an upper limit imposed by the availability of space,
machinery, labor, materials or capital. Capacity may
be expressed in units, weights, size, dollars, man
hours, labor costs etc... Typically, there are five
different concepts of capacity: 1) Ideal capacity,
2) Practical capacity, 3) Normal capacity, 4) Planned
capacity and 5) Operating capacity.
Certified Public Accountant. A person who audits
the financial position of a firm or individual.
A result achieved through negotiation whereby a hybrid
solution is arrived at between parties to an issue,
dispute or disagreement, comprising typically of concessions
made by all parties, and to which all parties then
subscribe unanimously as an acceptable resolution
to the issue or disagreement.
A corporate philosophy that guides the way a company
CRM - Customer Relationship Management
Customer Relationship Management (CRM) is an information
industry term for methodologies, software, and usually
Internet capabilities that help an enterprise manage
customer relationships in an organized and efficient
manner. In many cases, an enterprise builds a database
about its customers. This database describes relationships
in sufficient detail so that management, salespeople,
and customer service reps can access information;
match customer needs with product plans and offerings;
remind customers of service requirements; know what
other products a customer had purchased; etc.
a measure of productivity relative to inputs of human
and other resources.
With an electronic Marketing Channel
system an installation company can buy his products
from anybody in the same network without limitations.
This means that if he has the money to finance a larger
shipment from a manufacturer then he places a private
order with direct factory deliver to his premises.
If he does not have the needed funds or he can achieve
greater cost saving by ordering bigger quantities
then he can start a join venture project with anther
reseller near him and together make the order. They
can also work together with a wholesaler or even start
their joint whole selling business. New products can
be developed the same way or licenses acquired from
manufacturers residing on the other side of the planet
who either are or are not members of the eMC network.
ERP - Enterprise Resource Planning
Enterprise resource planning (ERP)
is the industry term used to describe a broad set
of activities supported by multi-module application
software that helps a manufacturer or other business
manage the important parts of its business. These
parts can include product planning, parts purchasing,
maintaining inventories, interacting with suppliers,
providing customer service, and tracking orders. ERP
can also include application modules for the finance
and human resources aspects of a business.
The state of possessing good qualities in an eminent
degree; exalted merit; superiority in virtue.
Programs that help people work together collectively
while located remotely from each other. Groupware
services can include the sharing of calendars, collective
writing, e-mail handling, shared database access,
electronic meetings with each person able to see and
display information to others, and other activities.
Intranets are private networks, usually maintained
by corporations for internal communications, which
use Internet -- usually web -- protocols, software
and servers. They are relatively cheap, fast, and
reliable networking and information warehouse systems
that link offices around the world. They make it is
easy for corporate users to communicate with one another,
and to access the information resources of the Internet.
a persistent increase in the level of consumer prices
or a persistent decline in the purchasing power of
money, caused by an increase in available currency
and credit beyond the proportion of available goods
Job Cost Sheet
A list of budgeted or actual costs of materials and
labor that are required to produce a product.
The detailed analysis and definition of a job; all
the duties, responsibilities and conditions required
in the performance of a particular job.
A Marketing Channel performs the work of moving goods
from producers to consumers. It overcomes the time
place and possession gaps that separate goods and
services from those who need or want them. It involves
all the transactions that happen between the parties,
all from the supplier on the ‘bottom' and the
customer at the ‘top'.
PRM - Partner Relationship Management
Partner Relationship Management (PRM) is a business
strategy for developing and improving relations between
companies and their suppliers-channel partners. There
are many CRM providers that have incorporated PRM
features in their software applications. PRM can be
also considered a component of customer relationship
management (CRM) that serves the relationships of
1) A line of supply, or channel by which information
is transmitted 2) work in progress.
having and orientation towards the future, anticipating
problems and taking affirmative steps to deal positively
with ongoing signs of change, rather than reacting
after a situation has already occurred.
The output or end result of the production process.
The formal activity that adds value to goods and
services, including creation, transport, and warehousing.
PRODUCTION is an organized process with specific goals.
The planning, routing, scheduling, dispatching and
inspection of operations or specific items being manufactured.
A measured relationship of quantity and quality of
units produced and the labor per unit of time.
A segment of a business organization that is responsible
for producing Successs on its own.
An organized sequence of predetermined actions which
management has chosen to complete future organizational
An assumption made, and held to be true until proven
otherwise; an inference made from available information
Project Management (PM)
The application of knowledge, skills,
tools and techniques to a broad range of activities
to meet the requirements of the particular project.
Project management knowledge and practices are best
described in terms of their component processes. These
processes can be placed into five process groups (initiating,
planning, executing, controlling and closing) and
nine knowledge areas (project integration management,
project scope management, project time management,
project cost management, project quality management,
project human resource management, project communications
management, project risk management and project procurement
The characteristic or standard measure of excellence;
basic character of something. Quality is a measure
of the degree to which something meets a standard.
The commitments and duties associated with a position
in an organization. The manner in which responsibilities
are fulfilled determines overall organizational effectiveness
The existence of hidden value, represented by understatements
of balance sheet values; capital held in readiness,
though not yet committed to any purpose.
The money people, time and equipment necessary for
operating an organization. Resource allocation is
one of the most critical, decision-making roles of
a good manager.
ROI, (Return On Investment)
The net amount, expressed as an annual percentage,
earned on a capital investment.
Self Managed Team
Self-managed work teams (SMTs) are
groups of employees with all the skills as well as
the authority needed to direct and manage them. They
are seen as a viable means of increasing the competence
of an organization to deal with changing environmental
demands and are often introduced with the objective
of improving the overall effectiveness of an organization,
as well as the quality of working life for employees.
Self-managed teams offer the opportunity
to dramatically improve the performance of your organization.
Redesigning and reorganizing traditional work groups
to perform as natural work teams or in cross-functional
employee involvement teams maximizes the creativity,
intellect, collective decision-making power and problem
solving contribution of the human resource asset.
Employees working in teams increase the dignity of
the individual and improves employee enthusiasm and
interest toward their job.
The organization of functionally interactive units
for the achievement of a common goal. All systems
have inputs, outputs, and feedback, and maintain a
basic level of equilibrium.
An organization development technique for improving
a work group's performance and attitudes by clarifying
its goals and its member's expectations of each other.
Virtual Community (VC)
A virtual community is a group of people connected
by common interests and ideas who use the internet
as a meeting place to discuss and share information.
The range of information that virtual communities
share is unlimited and as vast as the imagination
of community members.
A work environment in which employees work cooperatively
from different locations using a computer network/intranet.
: Synonym virtual Office.