An oral contract is a type of agreement made through spoken communication and not formalized in writing. Legal enforceability of oral contracts varies by context, with some exceptions such as real estate contracts, which must be in writing.
A comprehensive overview of the term 'Order' in various contexts including commercial law, investments, legal frameworks, and trade.
An in-depth look at Order Cards, their format, types, and applications in business settings.
An ORDER NUMBER is a reference number used by wholesalers, manufacturers, or retailers to identify a particular order, facilitating tracking, processing, and management.
A sales representative who primarily takes customer orders without performing sales presentations.
An in-depth exploration of the common practices in commercial transactions, referring to necessary activities that are normal and incidental to the business.
Detailed explanation of the expenses incurred to start a business, including legal fees, business filing fees, and franchise acquisition.
A detailed overview on Organization Development, its principles, practices, and its role in improving organizational functioning. Includes definitions, examples, historical context, and FAQs.
A comprehensive guide on organizational charts, explaining their patterns and structures used to depict the interrelationships of positions within an organization in terms of authority and responsibility.
Organizational Planning is the process of transforming organizational objectives into specific management strategies and tactics designed to achieve the objectives. It is one of the most important management responsibilities.
Understanding the psychological principles that govern behavior within organizational settings, often referred to as Organizational Behavior.
Organizational Structure refers to the apportionment of responsibility and authority among the members of an organization. Functional Organization, Matrix Organization, and Line Organization are three common types of organizational structure.
Learn about the role of Original Equipment Manufacturers (OEM) in various industries, especially in automotive and computer sectors. Explore definitions, types, historical context, applicability, related terms, FAQs and more.
An in-depth look at Original Orders, their significance in customer acquisition, tracking strategies, and the impact on business growth.
An In-Depth Look at the Term 'Outstanding' in Financial Contexts
An analysis of the overbooked condition in businesses like hotels and airlines, where more reservations are accepted than available accommodations.
Comprehensive Overview of the Term 'Override' in Various Contexts, including Organizational Fees, Estate Management, Contractual Terms, and Legislative Actions.
An individual who owns and operates his own business or equipment, commonly seen in industries like trucking.
Owners and Contractors Protective Liability Insurance provides liability coverage for an insured facing lawsuits due to negligent acts or omissions of independent contractors or subcontractors, resulting in bodily injury and/or property damage to a third party.
Comprehensive understanding of P&L, also known as Profit and Loss Statement, including its importance, structure, examples, and related terms.
A machine, fashion, or process that sets the standard for others to follow and is widely copied and imitated is regarded as the pacesetter in its industry.
An overview of packaged goods, including their types, packaging considerations, historical context, applicability, and related terms.
A parent company is a company that owns or controls subsidiaries through the ownership of voting stock. It often operates a business itself but may sometimes be referred to as a holding company when it has no business operations of its own.
Participative management is an open form of management where employees play a strong decision-making role, fostering productivity, quality, and cost efficiency.
A Partner is a member of a partnership, which may be a syndicate, association, pool, joint venture, or other unincorporated organization. Partners generally include in their personal tax returns their pro rata share of partnership ordinary income, capital gain, charitable contributions, etc.
A comprehensive overview of Partner's Drawing accounts, focusing on their definition, types, considerations, examples, and related terms, with historical context and practical applications in partnership businesses.
Partnership Life and Health Insurance offers protection to maintain the value of a business in case of death or disability of a partner. It ensures the transfer of the deceased or disabled partner's interest to the surviving partners according to a predetermined formula.
A comprehensive analysis of the term 'Pawn,' which refers to a person or organization that is at the mercy of another entity's will, often used to describe situations in business, politics, and daily life.
Pay As You Go refers to payments made for a good or service based on usage rather than as an outright purchase. This method is commonly used in various fields such as education, utilities, and telecommunications.
Exploring the meanings and uses of PC in computing as Personal Computer and in business as Professional Corporation.
A comprehensive explanation of Per Diem, its applications, types, and significance in business and employee compensation.
An overview explaining the concept of 'Perk' which redirects to 'Perquisite'.
A permit bond guarantees that the person or business granted a license by a government agency will adhere to regulations governing their licensed activities.
An in-depth look at personal liability, its implications, and how it affects various forms of business ownership.
A Personal Service Corporation (PSC) is a business entity where the primary activity involves personal services substantially performed by employee-owners. PSCs face distinct tax treatments, including being taxed at the highest corporate rate.
Detailed insight into the study and practice of managing an organization's human resources, including recruitment, selection, retention, development, assessment, and adjustment of personnel.
An overview of the Personnel Department, now commonly known as the Human Resources (HR) Department, responsible for personnel administration within organizations.
Promotional advertising that encourages product sampling and brand switching by using emotional appeals and other persuasive techniques.
A comprehensive guide on the process of moving finished products from the producer to the consumer, detailing types, methods, examples, and special considerations.
An extensive look at how contractors get paid by the piece, examining the mechanisms, implications, and historical context of piece work.
The process of imposing liability for corporate activity on individuals or entities other than the offending corporation itself by disregarding the corporate entity.
A comprehensive exploration of 'Pipeline,' encompassing its meanings as a supply line, an informational channel, a conduit for materials, and work in progress, with examples, historical context, and related terms.
Comprehensive guide on Point-of-Sale (POS) Systems, covering their functionalities, components, advantages, examples, and historical context.
A detailed explanation of Point-of-Sale (POS) System, its components, types, usage, historical background, and related terms.
Portal-to-Portal Pay compensates employees for all expenses incurred while traveling from their door to the worksite and back. This term is frequently used within business organizations to ensure employees are reimbursed for business-related travel expenses.
Refer to the entry on 'Position' for detailed information and comprehensive coverage on the concept of Positioning.
A detailed overview of postage meters, machines used to apply postage in lieu of printed stamps, including usage, types, historical context, and more.
A comprehensive definition of 'Posting' and its applications across different fields, including physical display, bookkeeping, civil procedure, commercial law, and property law.
Prepackaged bankruptcy is a streamlined process under Chapter 11, where the terms of reorganization are agreed upon by creditors and owners before the filing. This approach aims to minimize disruption and expedite the reorganization process.
Definition and comprehensive details of presentations, their types, and effective strategies for planning, organizing, and delivering impactful speeches tailored to specific audiences.
Presentment is a process utilized in online billing that is particularly useful for sending invoices to customers after their orders have been fulfilled.
Comprehensive overview of the role and responsibilities of the President in a corporate structure.
Understand the Presort First-Class Mail service offered by the U.S. Postal Service, which provides a reduced rate for bulk first-class mailings meeting specific sorting and volume requirements.
A comprehensive overview of prestige advertising, its strategies, examples, and impact on corporate reputation.
Understanding the practice of charging different prices for the same goods or services, its implications, types, and legality.
An Analysis of Price War: Definition, Effects, and Historical Context
A detailed exploration of Primary Market Area (PMA), its implications in media, advertising, and sales distribution with historical context and real-world applications.
Procurement involves the acquisition of goods including materials, parts, supplies, and equipment essential for business operations. It constitutes a significant part of business expenses.
A comprehensive overview of producer cooperatives, where producers collaborate in buying supplies, equipment, and marketing efforts to achieve mutual benefits and efficiency, including historical context, types, examples, and applicability.
Advertising targeted at specific products or services that describes features, benefits, and performance.
Understanding the stages of introducing a new product or service, from market analysis to customer feedback.
An in-depth exploration of product differentiation as a crucial component of a differentiation strategy in business. Understand the types, special considerations, examples, and historical context of product differentiation.
The Product Life Cycle (PLC) describes the progression of a product from its introduction to its decline, helping managers develop effective marketing strategies.
A comprehensive overview of product lines, including definition, types, special considerations, examples, historical context, and applicability in business strategy.
Overview of the Product Manager role, responsibilities, and its importance in the product lifecycle.
Product Research and Development (PR&D) involves the activities performed by a team of professionals to transform a product idea into a technically sound and promotable product. It plays a crucial role in developing new products, researching brand names, and creating effective packaging concepts.
Production forecasting is the process of estimating the amount of production necessary to meet sales forecasts for a specific period. Key considerations include previous sales data, economic conditions, consumer preferences, and competition. This process is essential for budgetary and scheduling decisions.
A comprehensive overview of production-oriented organizations, their primary functions, examples, and their role in various industries.
A Professional Association (P.A.) is a specific type of business entity used primarily by licensed professionals, such as doctors, lawyers, engineers, and accountants, to provide their services and manage their business operations.
A comprehensive exploration of professional associations, their purposes, types, benefits, and relevance in various fields such as law, medicine, and finance.
A Professional Corporation is a legal entity formed by professionals in fields such as law, medicine, or architecture, allowing them to practice within a corporate structure.
A detailed look into Professional Employer Organizations (PEOs), their functions, types, historical context, applicability, comparisons, related terms, FAQs, and more.
A Professional Employer Organization (PEO) is a staffing firm that provides employees to another company through employee leasing or staff leasing, functioning as the employer of record while handling various HR responsibilities.
Comprehensive definition of Project Management, covering its aspects related to task assignments, coordination with organizational divisions, and its importance in achieving organizational goals.
Comprehensive overview of the Promotion Mix that supports marketing objectives through various techniques such as advertising, personal selling, publicity, and sales promotion.
Proprietary information refers to knowledge or data owned by a particular person or entity, often protected under trade secret laws and not disclosed publicly.
A proprietorship is an unincorporated business owned by a single individual, where the proprietor has a right to all profits but also possesses responsibility for all the firm's liabilities. Income is reported on Schedule C of the owner's Form 1040 and is subject to self-employment tax.
An in-depth look at proprietorship income, emphasizing the tax implications for income earned in businesses that are sole proprietorships, which are owned by a single individual and are not incorporated.
An in-depth look into the term 'prospect,' its meanings, applications, and nuances across different fields like sales, employment, and professional sports.
Public Relations (PR) is a form of communication aimed at building a positive public image and managing issues rather than focusing solely on products or services. Utilizing unpaid publicity across various media, PR is often presented as news or public interest items.
A Publicly Held Corporation, also known as a publicly traded company, is a corporation that has its common stock registered on a national stock exchange. This detailed entry explores its characteristics, types, advantages, regulations, and more.
Understanding what a publicly traded corporation is, its characteristics, benefits, drawbacks, historical context, and related terms.
A comprehensive look at Publicly Traded Partnerships (PTPs), their characteristics, regulatory requirements, and their role in the financial market.
Pull Strategy is a promotional strategy wherein sellers target end-users with marketing efforts to create demand for a product, leading retailers to request the product from wholesalers or manufacturers.
Detailed explanation of pyramiding in finance, business structuring, and fraudulent activities.
Detailed explanation of what constitutes a qualified prospect, including financial capability, motivation, and authority considerations.
Quality Assurance (QA) is a management method of guaranteeing that high-quality product and service standards are established and achieved. This comprehensive management system strives for Total Quality Management (TQM) with the ultimate objective of achieving zero defects.
An in-depth look at Quality Management, its principles, methods, and application within organizations.
A comprehensive definition of quota, including its types, historical context, applicability, and related terms.
An in-depth exploration of the concept of 'Quotation' in commercial, financial, and historical contexts.
Rack jobbers are merchant wholesalers owning merchandise and providing rack displays at retail locations, working cooperatively with retailers and sharing profits.
An individual who brings significant amounts of new business to a company such as a law or accounting firm.
RAMP UP describes the expected performance of sales and profits of a new business, which increase rapidly until a plateau is reached at maturity.
Readjustment involves the voluntary restructuring of a corporation's debt and capital structure by its stockholders, often necessitated by financial difficulties.
A detailed overview of Recall Campaigns, their purpose, procedures, and significance, including examples, historical context, and related terms.
A detailed examination of the recall study process conducted by manufacturers or governments to determine the necessity of a product recall based on defect severity.
A detailed overview of the recapture clause in contracts that allows a party to reclaim an interest or right under specific conditions.
Receivership is an equitable remedy whereby a court orders property to be placed under the control of a receiver to preserve it for the benefit of affected parties. Learn about its application, types, history, and related legal terms.
A comprehensive guide to understanding the job role, duties, and significance of a Receiving Clerk within a firm's receiving department.
Understanding Recruitment Bonus: Its Purpose, Applications, and Impact
