MANAGEMENT JARGON'S

Whenever We Come Across Some Management Jargon We Are Not Obtuse Enough To Recall That Particular Word Or Term And Being A Management Student, Knowing These Jargon's Is Also Very Important So To Make Your Work A Little Easier I Have Tried To List Out Some Management Jargon's Which As A Management Student You Should Know.

You Will Be Coming Across These Jargon's In The Organization Or Business Wherever You Are Going To Work In Future, So These Terms Are As Follows :-

1) Bottom Line = These Are Basically The Most Important Measure Of Success In A Particular Organization. It Refers To Company's Net Earning, Net Incomes or Earning per Share (EPS).It Also Refers To Any Actions That Could Result In Increase/Decrease In Net Earnings Or A Company's Overall Profit.

2) Break Even Point = It Is A State Of A Company Where Profit Is Equal To Loss.

3) Cash Cow = It Is One of The Four Quadrants In The BCG Growth-Share Matrix.

4) Drift = Doing It Right In the First Attempt.

5) 80-20 Rule (Pareto Rule) = It Means 20% of Business of A Company Comes From 80% of Customers Or Vice Versa

6) Halo Effect = This Term Is Basically Used In Marketing To Explain The Bias Shown By The Customers Towards Certain Products Made By Same Manufacturer Or Maker.

7) Cannibalization = It Is The Opposite Of Halo Effect It Means The Negative Impact Of Company's New Product On Sales And Services.

8) Marketing Mix = It A Combination of 4 P's Product, Price, Place And Promotion.

9) Management By Objective (MBO) = It Means That Performance Should Be Measured In Terms Of Quantifiable Objectives.

10) Management By Walking Around = It Means That Managers Should Get Out Of The Office And Walk Around Talking To The Employees.

11) Mission Statement = A Short Simple Sentence Used By An Organization In Order To Tell People Why They Exist In The Market Or There Purpose Of Being.

12) Vision Statement = It Means What A Company Is Aspire To Become In Future.

13) Open Door Policy = It Means Allowing Employees Access Freely Towards Managers Or Superiors Anytime Without Making Any Appointment.

14) Product Life Cycle = It Tells About All Product Process through Four Stages Introduction, Growth, Maturity And Decline.

15) Pygmalion Effect = It Suggests That Results Are Based On Expectations. It means that if you’re Expectation Is High with Someone Then It Will Lead to High Performance of That Person and Vice-Versa.

16) Quality Of Work Life (QWL) = A Belief In The Importance Of Enriching The Intrinsic Motivation Factors On The Job, Including Such Factors Like Safety And Health, Challenges, Involvement And Significance.

17) Span Of Control = It Refers To Number Of Subordinates A Supervisor Has.

18) Abusive Tax Shelter = An Investment Scheme That Claim To Reduce Income Tax Without Changing The Value Of The User's Income Or Asset. It Serves No Economic Purpose Other Than Lowering The Federal Or State Tax Owned When Filing. Often These Schemes Channel Funds through Trusts Or Partnerships To Avoid Taxation.

19) Laddering = The Promotion Of Inflated Pre-IPO Prices For The Sake Of Obtaining Greater Allotment Of The Offering. It’s An Illegal IPO Practice.

20) Lead Time = The Amount Of Time That Elapses Between When The Process Starts And When It Is Completed. It Is Mostly Examined In Manufacturing Industry.