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Definition
| Using a solution that suffices for the moment rather than considering all the possibilities |
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| a problem-solving technique that involves the spontaneous contribution of ideas from all members of a group. |
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| a decision-making technique in which people acting both individually and as a group acting both individually and as group members make ranked lists of potential solutions to a problem and eventually vote to determine the top choice. |
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Definition
| Procedure used to obtain consensus among group members who do not meet face-to-face; employs circulation of questionnaires |
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| Standard operating procedure |
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Definition
| written procedure prescribed for repetitive use as a required practice in accordance with specifications aimed at obtaining a desired outcome. |
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Definition
| Financial statement that shows how much a business has earned or lost during a year also called a profit and loss statement |
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Definition
| expenses connected primarily with the manufacture and distribution of the business's products |
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| expenses connected with teh running of a business rather than the manufacture and distribution of products. |
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| result of subtracting expenses from revenues. The final take home profit before taxes. |
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Definition
| merchandise purchased for resale |
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Definition
| amount paid for inventory sold during a given period of time. |
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Definition
| number of units of a product sold at a given price to cover production cost and begin making a profit. |
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Definition
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Term
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Definition
| frequency with which inventory is sold and replaced over a given period of time. |
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