Category: Management Terms

Become a management expert with our full management dictionary below:

Academic

“Academic” can be defined as relating to the scholarly study of a subject. In management, academic research is often used to generate new theories and…

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Adhocracy

Adhocracy is a management style characterized by flexibility and openness to change. This type of management is often used in organizations that are c…

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Administration

The management of an organization is the process of planning, organizing, leading, and controlling the resources of that organization in order to achi…

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Balanced Scorecard

The balanced scorecard is a management system that helps organizations align their activities with their strategic objectives. It provides a framework…

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Board of Directors

A board of directors is a group of people who are elected by the shareholders of a company to oversee the management of the company. The board is resp…

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Centralisation

Centralisation refers to the concentration of power or authority within a single entity. In business, centralization often occurs when management make…

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Change Management

Change management is a structured approach to transitioning individuals, teams, and organizations from a current state to a desired future state. Chan…

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Collaboration

Collaboration is defined as two or more people working together to achieve a common goal. In the business world, collaboration often occurs between empl…

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Competitor Analysis

Competitor analysis is the practice of identifying, evaluating and monitoring the activities of firms considered to be potential competitors. The object…

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Contract Management

Contract management is the process of administering and managing contracts throughout their lifecycle, from initiation to completion. This includes nego…

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Cost Management

Cost management is the process of planning, monitoring, and controlling costs within an organization. Cost management includes activities such as cost e…

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Crisis Management

Crisis management is the process by which an organization deals with a major disruptive event that threatens to harm the organization, its stakeholders,…

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Cross Ownership

Cross ownership is the process of owning shares in more than one company. This can happen when an individual or organization owns shares in two or more …

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Decentralisation

Decentralisation is the process of distributing power away from a central authority. This can be done for a number of reasons, including increasing effi…

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Decision-Making

Decision-making is the process of making choices based on certain criteria. This process can be both rational and emotional, and can involve both indivi…

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Design Management

Design management is the business side of design. It is the process of managing the development of a product from its conception to its eventual release…

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Extended Enterprise

The extended enterprise is the concept of a company’s management team looking beyond the traditional view of the organization as defined by its physical…

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Facility Management

A facility is a building or set of buildings that are designed and built for a specific purpose. A facility can be anything from a small office to a lar…

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Focused Improvement

Focused Improvement is a management technique used to improve performance by identifying and addressing specific areas of need. It is a systematic, data…

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