productivity - the relationship between the output of goods and the resources needed to produce them
EX: Productivity has continued to grow strongly.
offshoring - transferring work to an outside supplier based in another country
EX: Offshoring is only suitable for tasks that have been clearly defined and can be managed at a distance.
overhead - a cost that does not vary with output (e.g rent, salaries)
EX: The pressure on corporate mangement to reduce overheads is increasing.
pilot project - a trial project to test performance: The pilot project will start operating in June
balance sheet - a statement showing the wealth of a business or organization at a particular date. The balance sheet has two parts showing assets and liabilities
EX: Buildings and machinery are assets that should be listed on the balance sheet.
bottom line - the last line on a financial document which shows the final result (total profit once all costs have been deducted
EX: Falling sales are going to have a negative impact on the bottom line.
merger - the creation of a new company by joining two separate companies
EX: The merger will have to be approved by the authorities.
income statement - a financial statement showing revenue, expenditure and profit from operations during a given period
EX: Enron’s income statement did not accurately reflect its losses.
mismanagement - poor quality management
EX: Lack of cashflow is often due to mismanagement.
Securities Exchange Commission (SEC) - abbreviated SEC - the US agency responsible for stock market regulation
EX: The SEC is currently investigating ten cases of fraud.
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