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Bargaining Power

A concept related to the relative abilities of parties in a situation to exert influence over each other.


Measurement of the quality of a firm's policies, products, programs, strategies, etc., and their comparison with standard measurements, or similar measurements of the best-in-class firms. The results determine improvements needed; identify the way other firms achieve their high performance levels; and using this information help to improve the company's performance.

Business Chain

A business chain is composed of a number of connected business locations that share a brand name and provide similar or the same products and services. The chains using the same brand name could be as small as two stores or customer-oriented offices in different locations as well as big business chains as McDonald's for instance.

Business Process Reengineering (BPR)

All the radical changes which may be implemented on a management system, company structure, personnel management and so on. In short, the term defines all changes that can affect the manner in which business is conducted.


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