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Test market an experimental area or group of customers in which a new product or marketing approach is tested to reduce future risk. (NOTE: verb ...
Team building a method, and related theory in management, emphasizing employee morale, interpersonal communications, and mutual respect as key elements...
Take-home pay the money an employee receives after taxes, dues, savings contributions, or other monies have been deduced from his or her gross pay...
Take the bull by the horns IDIOM to face a problem and solve it, usually by taking leadership and making necessary decisions Example: The old...
Span of control the number of people that one manager can supervise effectively Example: When two of our company managers quit suddenly last month, the other two had their span of control doubled, which made problems for everyone.
To crunch the numbers to do the mathematical calculations required in a business assessment Example: The new product development idea sounded good...
To corner the market to gain control of a market for one's product, or to control available supply of a product Example: The clever, small...
To come out of left field BASEBALL TERM to be a complete surprise (often, something unexpected that changes everything) Example: When a typhoon...
To build a better mousetrap to develop a new and improved product. Example: Some technology companies make the mistake of focusing on building a better mousetrap rather than focusing on the needs of their customers.
To bring home the bacon to earn an income to support one's household Example: In addition to studying for his MBA, the young husband had to bring home the bacon for his sick wife and two infant children.
quality control a system for insuring that a standard level of quality is maintained Example: Our quality control division was separate from our...
reventive maintenance the useful practice of routinely repairing, cleaning and replacing parts on schedule in order to prevent unexpected problems and...
planned obsolescence the practice of building and selling a product with a limited useful life such that the customers feel they must buy a new v...
performance appraisal formal evaluation of an employee's achievement of (or failure to achieve) previously established goals example: After thei...
per diem LATIN TERM "by the day,” used to mean a daily allowance of money for expenses incurred during business travel Example: The XYZ company allowed its employees $150 per diem for food, lodging, and taxi fares.
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