Glossary of Terms
Ideas culture
A workplace that encourages employees at all levels to contribute their ideas as a way to improve business operations.
Individual Development Plan (IDP)
A plan for training and development which individual employees discuss and agree with their manager which aims to contribute to their performance at work and enhance their career prospects. The IDP is reviewed at least annually.
Induction
The process of introducing a new employee to the workplace. Typical activities include familiarisation with company policies, introduction to fellow employees and early training.
Industrial action
Various forms of disruption to the activities of a business intended to highlight or terminate a grievance or disagreement between the workforce and the employers.
Industrial relations
Refers to the legal environment relating to employment including occupational health and safety, anti-discrimination, employment relations, recruitment and dismissal with the key aim of ensuring equity at work.
Information society
A society in which the creation, use and distribution of
information is a significant economic, political, and cultural activity.
Infrastructure
The basic framework or underlying foundation established in a country or community in which business, industry or other societal functions can develop. This can include transport and other facilities, utilities, buildings etc.
Initiatives
Specific projects or programs undertaken to achieve objectives in the near-term, such as to reduce costs, increase efficiency, or improve sales performance.
Innovation
A new and creative idea, product or service.The process of converting knowledge and ideas into better ways of doing business or into new or improved products and services that are valued by the community. The innovation process incorporates research and development, commercialisation and technology
Innovative
A characteristic of a product, service or company, creative or different.
Innovator
A person willing to try new and creative approaches to solving problems or doing things.
Insurance
When people pay money into a pool to cover the cost of damage or replacement of their assets should an incident occur.
Intellectual capital
The intangibles of a business that underpin future growth such as a person's ideas and knowledge.
Interest
Money charged by a lender to a borrower for the use of his or her money. When a customer borrows money from a bank or a credit card company, they pay that insititution interest on the amount of money borrowed.
Interim
Temporary or provisional.
Internal brand knowledge
Employee product awareness and feedback from employees to strengthen brand management.
Internal environment
The internal aspects of a business such as staff, systems, structures and culture that are directly managed. See also, external environment.
Investment
The outlay of a sum of money to be used in such a way (e.g. for the purchase of shares, property or equipment) that a profit or increase in capital may be expected.
Investors
Individuals or firms who outlay a sum of money to be used in such a way that a profit or increase in capital may be expected.
ISO14001
A standard specifying the actual requirements for an environmental management system. It applies to those environmental aspects which the organisation controls and over which it can be expected to have an influence.
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