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BACKORDER. Orders for goods which cannot be filled immediately but which will be honored as more goods as service slots become available.
BALANCE OF PAYMENTS. An international economic element that is an account of goods and services, capital loans, gold, and other items entering and leaving a country, and a factor influencing the ability of an organization to conduct international business in that country successfully.
BALANCE OF TRADE. The difference between a country’s exports and imports, and, generally, the most critical determinant of a country’s balance of payments.
BALANCE SHEET. A financial statement that depicts an organization’s assets and claims against those assets at a given point in time.
BALANCE SHEET BUDGET. A financial budget that forecasts the assets, liabilities, and shareholders’ equity at the end of the budget period.
BANKRUPTCY. A defensive strategy in which an organization that is unable to pay its debts can seek court protection from creditors and from certain contact obligations while it attempts to regain financial stability.
BARGAINING. A method of formulating goals to match agreements for the exchange of goods or services with other organizations.
BATCH PROCESSING. An arrangement where-by data is accumulated and then processed as a whole.
BCG GROWTH-SHARE MATRIX. A portfolio approach involving a four-cell matrix (devel-oped by the
Boston Consulting Group) that compares various businesses in an organization's portfolio on the basis of relative market share and market growth rate.
BEHAVIOR MODIFICATION. The use of techniques associated with reinforcement theory.
BEHAVIORAL DISPLACEMENT. A condition that is a side effect of poorly designed and/or excessive controls in which individuals engage in behaviors that are encouraged by controls and related reward systems even though the behaviors actually are inconsistent with organizational goals.
BEHAVIORAL SCIENCE. An approach that emphasizes scientific research as the basis for developing theories about human behavior in organizations that can be used to develop practical guidelines for managers.
BEHAVIORAL VIEWPOINT. A perspective on management that emphasizes the importance of attempting to understand the various factors that affect human behavior in organizations.
BEHAVIORALLY ANCHORED RATING SCALES (BARS). Performance appraisal scales containing sets of specific behaviors that represent gradations of performance used as common reference points (or anchors) for rating employees on various job dimensions.
BELONGINGNESS NEEDS. The needs in Maslow’s hierarchy that involve the desire to affiliate with and be accepted by others.
BENEFITS. Forms of compensation beyond wages for time worked, including various protection plans, services, pay for time not worked, and income supplements.
BILL OF MATERIAL (BOM). An input to MRP systems that consists of a listing of all components, including partially assembled pieces and basic parts, that make up an end product.
BOTTOM-UP BUDGETING. A process of developing budgets in which lower-level and middle managers specify their budgetary needs and top management attempts to accommodate them to the extent possible.
BOUNDARY SPANNING. An approach to influencing an environment that involves creating roles within the organization that interface with important elements in the environment.
BOUNDED RATIONALITY. A concept that suggests the ability of managers to be perfectly reasonable in making decisions is limited by such factors as cognitive capacity and time constraints.
BRAINSTORMING. A technique for enhancing group creativity that encourages group members to generate as many novel ideas as possible on a given topic without evaluating them.
BREAK-EVEN ANALYSIS. A quantitative technique based on a graphic model that helps decision makers understand the relationships among sales volume, costs, and revenues in an organization.
BUDGETING. The process of stating in quantitative terms, usually dollars, planned organizational activities for a given period of time.
BUFFERING. A method of adapting to environmental fluctuations that involves stockpiling either inputs into or outputs from a production or service process.
BUREAUCRATIC CONTROL. A managerial approach that relies on regulation through rules, policies, supervision, budgets, schedules, reward systems, and other administrative mechanisms aimed at ensuring that employees exhibit appropriate behaviors and meet performance standards.
BUREAUCRATIC MANAGEMENT. An approach within classical management theory that emphasizes the need for organizations to operate in a rational manner rather than relying on the arbitrary whims of owners and managers.
BUSINESS-LEVEL STRATEGY. A type of strategy that concentrates on the best means of competing within a particular business while also supporting the corporate-level strategy.
BUSINESS PLAN. A document written by the prospective owner or entrepreneur that details the nature of the business, the product or service, the customers, the competition, the production and marketing methods, the management, the financing, and other significant aspects of the proposed business venture.
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