Advanced Glossary

Search for term:   

Bargaining Power

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

Benchmarking

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.

 

Download PDF

Entire glossary in one Download (PDF-Format)