Glossary of Terms
Objectives
Measurable goals or outcomes.
Online community/ies
A group of people with a common interest who
communicate via online methods as opposed to face to face.
Operating profit
Revenue from a firm's regular activities less costs and expenses and before income deductions. See also, net income, working capital
Operational efficiency
A measurement where a business works to achieve the best use of resources in production process involving the lowest possible cost and using the minimum quantities of resources.
Operational management
The day-to-day management of systems or processes that create goods and/or provide services and which contributes to the achievement of short-term aims or objectives. See also, operations
Operations
The integration of processes from around a business, implemented by an organisation, in order to satisfy and implement customers' needs. See also, operational management
Organic
Production of food under a natural system using minimal or zero synthetic chemicals.
Outsourced
When an organisation gets external organisations to perform tasks, for example, marketing or distribution
Overdraft
A type of loan that allows the account holder to withdraw more funds, up to a specified amount, than what is actually held in the account. Interest is paid on the amount overdrawn.
|
