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1 Heuristic Oracle Management Efficiency Resource
Databases: HOMERУниверсальный русско-английский словарь > Heuristic Oracle Management Efficiency Resource
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2 efficiency
Gen Mgtthe achievement of goals in an economic way. Efficiency involves seeking a good balance between economy in terms of resources such as time, money, space, or materials, and the achievement of an organization’s goals and objectives. A distinction is often made between technical and economic efficiency. Technical efficiency means producing maximum output with a minimum input, while economic efficiency means the production and distribution of goods at the lowest possible cost. In management, a further distinction is often made between efficiency and effectiveness, with the latter denoting performance in terms of achieving objectives. Achieving efficient performance is one of the key drivers behind scientific management. -
3 efficiency ratio
Fina way of measuring the proportion of operating revenues or fee income spent on overhead expenses.EXAMPLEOften identified with banking and financial sectors, the efficiency ratio indicates a management’s ability to keep overhead costs low. In banking, an acceptable efficiency ratio was once in the low 60s. Now the goal is 50, while better-performing banks boast ratios in the mid 40s. Low ratings usually indicate a higher return on equity and earnings.This measurement is also used by mature industries, such as steel manufacture, chemicals, or car production, that must focus on tight cost controls to boost profitability because growth prospects are modest.The efficiency ratio is defined as operating overhead expenses divided by turnover. If operating expenses are $100,000, and turnover is $230,000, then:100,000/230,000 = 0.43 efficiency ratioHowever, not everyone calculates the ratio in the same way. Some institutions include all non-interest expenses, while others exclude certain charges and intangible asset amortization.A different method measures efficiency simply by tracking three other measures: accounts payable to sales, days sales outstanding, and stock turnover. This indicates how fast a company is able to move its merchandise. A general guide is that if the first two of these measures are low and third is high, efficiency is probably high; the reverse is likewise true.To find the stock turnover ratio, divide total sales by total stock. If net sales are $300,000, and stock is $140,000, then:300,000/140,000 = 2.14 stock turnover ratioTo find the accounts payable to sales ratio, divide a company’s accounts payable by its annual net sales. A high ratio suggests that a company is using its suppliers’ funds as a source of cheap financing because it is not operating efficiently enough to generate its own funds. If accounts payable are $50,000, and total sales are $300,000, then:50,000/300,000 = 0.14 × 100 = 14% accounts payable to sales ratio -
4 management
Gen Mgt, HRthe use of professional skills for identifying and achieving organizational objectives through the deployment of appropriate resources. Management involves identifying what needs to be done, and organizing and supporting others to perform the necessary tasks. A manager has complex and ever-changing responsibilities, the focus of which shifts to reflect the issues, trends, and preoccupations of the time. At the beginning of the 20th century, the emphasis was both on supporting the organization’s administration and managing productivity through increased efficiency. Organizations following the models of Henri Fayol and Max Weber built the functional divisions of personnel management, production management, marketing management, operations management, and financial management. At the beginning of the 21st century, those original drivers are still much in evidence, although the emphasis has moved to the key areas of competence such as people management. Although management is a profession in its own right, its skill-set often applies to professionals of other disciplines. -
5 scientific management
Gen Mgt, HRan analytical approach to managing activities by optimizing efficiency and productivity through measurement and control. Scientific management theories, attributed to Frederick Winslow Taylor, dominated the 20th century, and many management techniques such as benchmarking, total quality management, and business process reengineering result from a scientific management approach. Other figures such as Henry Gantt and Frank and Lillian Gilbreth were firmly in the scientific school and furthered its influence, particularly through the time and motion study. Such was the dominance of Taylor’s influence that scientific management is also known as Taylorism. The main criticism of Taylorism is that it degenerated into an inhumane and mechanistic approach to working, treating people like machines. -
6 open-book management
Gen Mgta management style in which everything is revealed to employees and there are no secrets. Openbook management involves not only revealing a company’s full financial information to its employees but also making transparent all of the workings of the company. Open-book management has been viewed as enabling the empowerment and involvement of the workforce, increasing employee motivation and organizational efficiency. -
7 waste management
Gen Mgta sustainable process for reducing the environmental impact of the disposal of all types of materials used by businesses. Waste management aims to avoid excessive use of resources and damage to the environment and may be achieved through processes such as recycling. It focuses on efficiency in the use of materials and on disposing of rubbish in the least harmful way. Waste management also involves compliance with the legislation and regulations covering this area. -
8 macho management
Gen Mgtan authoritarian management style that asserts a manager’s right to manage. Macho management is a term coined by Michael Edwardes, and it was adopted by the media in the 1980s. Macho managers tend to take a tough approach to improving productivity and efficiency, and are unsympathetic to labor unions. -
9 operations management
Opsthe maintenance, control, and improvement of organizational activities required to produce goods or services for consumers. Operations management has traditionally been associated with manufacturing activities but can also be applied to the service sector. The measurement and evaluation of operations is usually undertaken through a process of business appraisal. Efficiency and effectiveness may be monitored by the application of ISO 9001 quality systems, or total quality management techniques. -
10 risk management
Gen Mgtthe variety of activities undertaken by an organization to control and minimize threats to the continuing efficiency, profitability, and success of its operations. The process of risk management includes the identification and analysis of risks to which the organization is exposed, the assessment of potential impacts on the business, and deciding what action can be taken to eliminate or reduce risk and deal with the impact of unpredictable events causing loss or damage. Risk management strategies include taking out insurance against financial loss or legal liability and introducing safety or security measures. -
11 time management
Gen Mgtconscious control of the amount of time spent on work activities, in order to maximize personal efficiency. Time management involves analyzing how time is spent, and then prioritizing different work tasks. Activities can be reorganized to concentrate on those that are most important. Various techniques can be of help in performing tasks more quickly and efficiently: information handling skills; verbal and written communication skills; delegation; and daily time planning. Time management is an important tool in avoiding information overload. -
12 process management
Opsthe operation, control, evaluation, and improvement of interconnected tasks, with the goal of maximizing effectiveness and efficiency -
13 Wholesale Management And Efficiency Report
Accounting: WMERУниверсальный русско-английский словарь > Wholesale Management And Efficiency Report
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14 эффективность управления
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15 эффективность управления
management efficiency, efficiency (competence) of managementBanks. Exchanges. Accounting. (Russian-English) > эффективность управления
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16 наука об управлении
Русско-английский большой базовый словарь > наука об управлении
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17 наука управления
Русско-английский большой базовый словарь > наука управления
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18 техника управления
Русско-английский большой базовый словарь > техника управления
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19 эффективность управления
Бизнес, юриспруденция. Русско-английский словарь > эффективность управления
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20 эффективность, ДЕЙСТВЕННОСТЬ, результативность
Management: efficiency (характеристика пригодности для достижения необходимого/планового результата)Универсальный русско-английский словарь > эффективность, ДЕЙСТВЕННОСТЬ, результативность
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