Employee involvement. Regular participation of employees in decision-making and suggestions.

Date: 2015-10-07; view: 456.

Empowerment. Usually refers to giving employees decision-making and problem-solving authority within their jobs.

Dress Code. A work dress code is a set of standards that companies develop to help provide their employees with guidance about what is appropriate to wear to work.

Defect. An error in construction of a product or service that renders it unusable; an error that causes a product or service to not meet requirements.

Checklist. A list of important steps that must take place in a process or any other activity. A list of things to do.

Customer. Any recipient of a product or service. A customer can be external or outside the organization, or they can be internal to the organization.

Company Culture. The term given to the shared values and practices of the employees.

Cost of Sales. The costs directly related to the purchase or production of whatever the company sells.

Capital. The financial investment required to start and/or run a business.

Expenses.The costs of doing business that result from generating revenue. They include parts, salaries, utilities, etc.

Earnings(Income) Statement. A standard financial document that summarizes a company's revenue and expenses for a specific period of time, usually one quarter of a fiscal year and the entire fiscal year.