A budget centre is a segment within an organization for which budgets are prepared and compared against actual performance as part of the budgetary control process.
Classification in a business context refers to the organization of jobs, activities, and products into categories or grades based on predefined criteria. This helps in standardizing evaluation, simplifying management, and enhancing operational efficiency.
An edict is an official organizational decree that is published to communicate a policy statement, ensuring everyone is aware of an organization's position on a particular matter.
A furlough is a temporary leave of absence from an organization, typically granted to employees for a specified period, often without pay. Furloughs can be used for various reasons, including economic downturns, training, or personal necessity.
Administration of the line functions of an organization; management of all activities that contribute directly to an organization's output.
An information system designed to provide financial and quantitative information to all levels of management in an organization. Modern MIS solutions provide data from integrated computer databases constantly updated from all organizational areas in a structured manner.
The management system encompasses various comprehensive methodologies and leadership styles aimed at streamlining organizational processes and improving efficiency.
Mismanagement refers to poorly managed activities within an organization. These operations fail to achieve their goals, are extremely wasteful, and generally indicate administrative procedures that are not well thought out or directed.
Project Management (PM) is an organizational management system that assigns employees to specific project teams when special projects are contracted and then reassigns them back to the organization when the project is completed. PM also involves coordinating project activities with organizational divisions and departments to achieve objectives.
A revenue center is an area within an organization designated for generating income without being responsible for costs associated with production or service delivery.
A method based upon length of service for determining employment advantages, crucial for promotions and layoffs, and often strongly advocated by unions.
A superintendent is a person who has oversight and charge of a department in an organization, often serving as a senior manager to ensure efficient and effective operations.
Indication that organizational management procedures are followed very closely. When an organization is run like a tight ship, few allowances are permitted for unorthodox procedures.
A troubleshooter is a person with specialized skills in identifying and solving issues within an organization. They are often employed to resolve technical or operational problems efficiently.
The administrative procedure of establishing and supervising wage levels and operations within an organization to ensure fair compensation practices.
