Jargon, jargon, jargon. Perplexing, meaningless, incomprehensible: thatís all the business world is, right? Be flummoxed no more! The Penguin Dictionary of Business is your answer. From oligopoly to the Pareto analysis to the Chinese wall and the Taguchi method, this text deciphers and disentangles the mysteries of commerce, economics and finance. Written accessibly and succinctly, this is the ultimate reference for anyone with an interest in the business world, whether for study or work. Clearly written by experts in their fields, with practical and relevant examples, it covers a host of both general and more specialised terms, from ĎAí shares to zero-sum game.
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Some sample entries:
An individual or firm who/that specializes in offering management advice to organizations. Typically, on making more effective use of resources employed, organization of activities and the implementation of new technology. During the 1980s and 1990s this was an area of rapid and enormous growth. Many large firms regularly employ the services of management consultancy firms for specific projects and to undertake major internal reorganizations on their behalf.
A defence technique used by a firm under threat of take-over to ensure that it is no longer such an attractive target. For example, the firm would purchase a poorly performing business or sign an agreement with its employees that would give itself a financial burden. This would clearly be unattractive to the bidding firm, thus hopefully forcing it to decide against the take-over.
The holistic impression that people have of a single store or, more often, of a retail chain, often expressed in relative terms (`store A has a better image than store B'). This overall impression will reflect the way people perceive the store, their attitudes to, and any behaviour they exhibit towards, it, e.g. patronage, shareholding, etc. Store image is allied to the similar concepts of brand image and corporate image. A challenge in managing store image is how to ensure consistency across what may be quite a diverse range of individual retail outlets (varying in size, product assortment, physical structure, age of construction and markets served).
Evan Davis is the BBC's Economics Editor. He lives in London SW5. Graham Bannock is Chair of Bannock Consulting and co-author of the Penguin Dictionary of Economics. He lives in Dorset. Paul Trott is a Senior Lecturer at the Universty of Portsmouth. Professor Mark Uncles is Head of the School of Marketing at the University of New South Wales, Australia.
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