Glossary of Terms

E
Economic Progress
Enhancement of the nation's income whilst maintaining the national wealth that will support future consumption.
Economic sustainability
The concept of creating business policies that are financially supportable over a long period of time without taking away too many financial resources of the organisation.
Economically sustainable
Business policies that are financially supportable over a long period of time without taking away too many financial resources of the organisation.
Economies of scale
Factors that cause the average cost of producing or providing something (such as insurance products/services) to drop as output increases.
Efficiency
Increased output using the same number of inputs.
EFTPOS
Electronic funds transfer at point of sale.
Electronic direct marketing
This involves sending messages directly to consumers through various electronic means including mobile phone, SMS messages and email. Electronic direct marketing usually includes a call to action in the material.
Emission/carbon credit trading
A business or organisation people actively want to work for. Concerns the structures an organisation has in place supporting its employee opportunities, wellbeing and company values. Organisations can be awarded the title of ‘Employer of Choice’ by various HR associations.
Employee retention
The number of employees that remain with a business over a particular period of time. High levels of retention are seen to reflect good HR practices and employee relations.
Employer of choice
Organisations that have policies and practices in place that attract higher calibre people to work for them and where the organisation is able to retain them for longer than their competitors.
Endorsement
Granting formal and explicit approval.
Enhanced greenhouse effect
When human activity increases the gases that are a natural part of the atmosphere, for example, carbon dioxide, methane, nitrous oxide and fluorocarbons which trap heat above the world’s surface.
Entrepreneur
A person willing to take risks and start new business ventures.
Entrepreneurship
The willingness to take risks and start new business ventures.
Entreprenurial
Willing to take risks and start new business ventures.
Environmental Managment System (EMS)
Tools for managing the impact of an organisation's activities on the environment.
Environmental Progress
A reduction of threats to the environment and improvements in the health of our ecosystems.
Equal employment opportunities (EEO)
Equitable policies and practices in recruitment, selection, training and promotion.
Equity raising
Equity is the ownership interest in a company in the form of shares. Equity raising here would be the buying up of shares to increase this ownership interest.
Ethical practice/s
Codes of conduct, policies and procedures adopted by society, an organisation or industry.
Ethical standards
Refers to the beliefs of a business about what is considered right or wrong behaviour; these beliefs guide business practice.
Ethics/ethical
Refers to the beliefs of a business about what is considered right or wrong behaviour; these beliefs guide business practice.
European Union Emissions Trading Scheme (EU ETS)
The greenhouse gas emissions trading scheme operating within the European Union.
Execution
The practical management activity of 'getting things done' that allows a business to actually achieve its goals. The term was popularised by business leaders Larry Bossidy and Ram Charan.
Export/s
Goods or services that are sold to overseas consumers by domestic producers.
External environment
Factors external to the business that influence its operation and actions. They include such things such as economic conditions, consumer behaviour and technological developments.