Kurian, George Thomas. The AMA Dictionary of Business Management (Amacom, 2013).
Existing Citations
accountability (s.v. accountability): 1. Relationship in which each party is responsible for the discharge of assumed responsibilities in compliance with proper legal and ethical standards. 2. Clear presentation of financial information that makes it possible to identify the legitimacy of transactions. (†1097)
audit (s.v. audit): Independent examination of the financial state or health of an organization, usually on the basis of accepted accounting principles, policies, regulations, standards, rules, or controls. Audits may be external or internal. Generally, audits are conducted by licensed professional or chartered auditors. (†1098)
compliance (s.v. compliance): State of being in accordance with all legal requirements and obligations; also, the department in a business that ensures operations are compliant with all applicable laws. (†1094)
confidence (s.v. confidence): Belief supported by facts that a certain action will be followed by certain results, as in consumer confidence. (†1095)
crowdsourcing (s.v. crowdsourcing): Delegation of a task, such as research or a problem solution, to the general public through the internet. (†1096)
data mining (s.v. data mining): Process of extracting usable information from raw data through the use of algorithms and statistical models to form predictive models that can identify significant patterns of use. (†1091)
data protection (s.v. data protection): Safeguards for personal data in a company’s files to prevent potential misuse, especially without permission. The protections conform to the privacy rights and laws in force, in that data are obtained fairly and lawfully and used only for specified and legal purposes; personal information is not disclosed or used in a manner inconsistent with the purpose behind its collection; it is not exploited excessively; it is accurate and up-to-date; it is kept no longer than necessary; it is protected against unauthorized and unlawful processing and against accidental loss or destruction; and it is not transferred to a foreign jurisdiction. Data subjects have the right to find out what information is held about them and to rectify, block, erase, and destroy data that are inaccurate and irrelevant, so as to prevent their disclosure or sale to third parties, and to be compensated for infringement of privacy rights. (†1092)
discovery (s.v. discovery): Period before a contract comes into force, during which either side may gather information to verify that the facts as represented are accurate. (†1093)
identity management (s.v. identity management): Creation and promotion of a corporate or brand identity so as to present a positive image to consumers and hide negative features or developments. (†1078)
impact (s.v. impact): In marketing, the total measurable effect of an action or product on a market, group, or person. (†1090)
information management (s.v. information management): Executive control of the flow of accurate information to all those entitled to it, and also provision of disinformation to those who would use it for negative purposes. (†1079)
liability (s.v. liability): 1. Responsibility assumed according to law or equity or obligation pertaining to a function or office. 2. Pecuniary debt incurred in the course of a business transaction that must be legally discharged. (†1089)
management (s.v. management): 1. Control of a company or organization with the goal of making it profitable and sustainable. The operation requires organizational and human relations skills that are different from entrepreneurial skills. Management is responsible for setting goals, overseeing change and growth, measuring performance, planning, cost control, pricing, conflict resolution, and quality control. 2. People involved in the operation of a company or organization, especially the higher echelons, knows as top management. Managers are accountable to the owners or shareholders for the conduct of business affairs. (†1077)
organization (s.v. organization): Structured corporate entity operating under defined rules, protocols, roles, and responsibilities, with a stated goal. It may be for profit or nonprofit. (†1088)
patent (s.v. patent): Grant of an exclusive right to exploit an invention registered with the U.S. Patent Office or under appropriate intellectual property laws. (†1085)
process (s.v. process): Specific, structured, and managed set of activities with known inputs, designed to produce a desired output; or a configuration of operational capabilities and restrictions that are designed to produce a desired result. (†1087)
risk management (s.v. risk management): Understanding and evaluating the risk involved in a business proposition or transaction, so as to prepare for the eventuality of failure or loss and to moderate the effects of such a loss. Common forms of risk management include insurance, derivatives as a hedge against sudden market fluctuations, and higher interest rates to compensate for potential losses. (†1084)
social capital (s.v. social capital): Cumulative social skills of employees considered as a company asset, enhancing teamwork, encouraging democratic decision making, and helping develop a sense of community. (†1083)
social media (s.v. social media): Various forms of electronic communication, including Facebook and Twitter. Also termed social network. (†1082)
system (s.v. system): Integration of components into a harmonious whole that works seamlessly and therefore can be understood and studied as a single unit. (†1081)
transparency (s.v. transparency): In business, the quality of being open about goals and methods and sharing positive as well as negative developments, as well as in compliance with legal and moral requirements. (†1080)
