TERMINOLOGY BY KAVITHA.M Assistant Prof. of HA Bon

Transcript:TERMINOLOGY BY KAVITHA.M Assistant Prof. of HA Bon:
TERMINOLOGY BY KAVITHA.M Assistant Prof. of HA Bon Secours College for women , Thanjavur. Contact:+919159727600. ASSETS Every business has assets, which in their simplest terms are things of value. All businesses need assets to produce products or sell services. An asset is anything a business owns. CEO The Chief Executive Officer (CEO), is the top executive in an organization. That top executive can have many titles. Sometimes it is an owner, founder, or manager. It can also be a managing partner or the president. In the largest organizations, and more frequently in smaller ones especially start-ups, the title of president is being replaced by CEO. TURNOVER When employees leave a company and have to be replaced, that's called turnover. A certain amount of turnover is unavoidable, but too much can ruin a company. The two general types of turnover are voluntary (when the employee chooses to leave) and involuntary.(when layoffs and similar actions force an employee to leave) VISSION Vision is top managements dream of what they want the organization to be. It should not be confused with strategy, which is the large-scale plan the company follows to make the dream happen. MERGER A combination of two or more firms into one operational entity. SWOT Determining an organisation’s Strengths, Weaknesses, Opportunities and Threats. DECENTRALISATION Delegation of authority and duties is usually referred to as decentralization in which set up the organization is divided different sections and departments in order to help the organization grow scientifically and with a purpose of direction leading to harmony in relations and healthy atmosphere which generally is absent in centralized system of organization FORMAL COMMUNICATION communication between people through the official channels of an organization, following the official procedure HIERARCHY Any organization structure containing different levels of authority and often responsibility. (2) Any arrangement of things in succeeding levels each one includes all preceding levels BRAND A name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a family of items, or all items of that seller. MARKET A situation where buyers and sellers are in communication with each other. This may take several forms, e.g in person (as in a cattle auction) or electronically (as in the stock exchange) or through the mass media as in newspaper advertising columns