The terms used in business such as Magnetic Media,Mail order,Mainstream,Managed Economy, Managed Hosting etc.
This post explains about terms used in business such Loss Leader,Loyalty Card,Low Yield,Madrid System,Magnetic Media,Mail order,Mainstream,Managed Economy, Managed Hosting etc.These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.
The terms used in business
Loss Leader - In retail, a product which is offered at a very low price to attract customers who will then buy other goods which will produce more profit for the retailer.
Low Context Culture - A culture in which communication is direct and the transfer of facts and information is what is paramount.
Low Hanging Fruit - A term used in business for something which is easily obtainable and highly visible, and provides a quick easy way to making a profit.
Low Yield - A term used to describe investments which are low risk and do not produce a high level of income.
Loyalty Card - A card given to customers by a retailer which gives the customer points, etc., every time they shop there. These points convert into vouchers which the customer can spend at the store at a later date.
Loyalty operations / Fidélisation :Operations aimed at maintaining the loyalty of active customers.
L-shaped recession - A recession which fails to recover for a very long period, typically ten years or longer, or indefinitely, i.e., pre-recession levels of GDP and GDP growth are not seen again for many decades. Also, where extremely severe an L-shaped recession might more traditionally be called a depression. The Japanese recession of the 1990s is gererally regarded as an example of an L-shaped recession. The recessions in the US and large parts of Europe following the 2007/8 global financial crisis might easily be interpreted as similarly long-term and ominously L-shaped recessions.
Luddite - A derogatory term for someone who opposes or disapproves of new technology and/or new methods of working, often because the changes threaten jobs. From the Luddite rioters of 1811-16, who in defence of labourers' jobs in early industrial Britain wrecked new manufacturing machinery. See Luddite in the words origins page.
Lump of Labor Fallacy - The fallacious argument which, working on the assumption that there is only a fixed amount of work in the world, says that an increasing population will inevitably lead to increasing unemployment. This argument is often used by governments as reasoning behind reducing the workweek to reduce unemployment.
Ma and Pa shop: a small family-run business.
Maastricht Treaty - The treaty, formally known as the Treaty on European Union, signed in 1992, that led to the unification of many European countries. The treaty changed the name of the European Community (EC) to the European Union (EU) and led to the creation of a monetary union with a European Central bank, political and military integration, common foreign policy, and common citizenship among member countries.
Machine Code - Also known as Machine Language. A computer language, which consists only of numbers, that can be read and interpreted by a computer's central processing unit (CPU).
Macro - In a computer, a single instruction which results in a complete series of more detailed instructions being put into effect.
Macro Country Risks - Country (or political) risks that affect all foreign firms in a host country.
Macroeconomics: the branch of economics that studies national income and the economic systems of national economies.
Madrid System - Allows for a trademark holder to have their trademark protected in several countries.
Magalog - A catalogue
which appears to be a magazine, used for marketing purposes.
Magic bullet - A simple effective solution to a serious or complex problem, especially in medicine, for example a cure for a disease. The simplicity is for users, not necessarily for the developers. See also Silver Bullet, basically the same meaning.
Magnetic Media - Disks and tapes which are used to record and store computer data.
Mail Merge - The process of automatically personalising a customised letter or document by using a list of individual names and addresses, so the same letter can be sent to many people.
Mail Merger / Publipostage :Operation involving solicitation, securing client loyalty, and business creation by mail (more frequently known as “mailing”).
Mail Order - The purchasing or selling of goods over the Internet, telephone, from catalogues, etc., which are delivered to the customer by mail.
Mail Order Business: This is a kind of retail business, which is carried on through the post office. The seller receives its orders and dispatches and ‘delivers the goods through the Post office usually by V.P.P.
Mail order: a form of retailing in which consumers order products from a catalogue for delivery to their home.
Mail-order (MO) sale / VPC :Mail-order selling is a type of distribution where there is no physical contact between the seller and the buyer. The products are sold through a printed or soft-copy catalogue and sent by mail.
Mainframe - Also known as 'Big Iron'. A large powerful central computer to which a network of smaller computers are connected, used commonly by large organisations.
Mainframes (a large and expensive):Microcomputer also called personal computers (small, one user computer and relatively inexpensive)Minicomputers (in between a mainframe and personal computer. Used mostly by medium sized business and academic situations).Each of these types may again by classify as analog or digital and as special purpose and general purpose computer.
Mainstream - A term applied to activities, ideas, products/services, etc., that are used/followed/supported by most people. Mainstream basically means 'commonly used by people'. Mainstream as a marketing term is the opposite to 'niche' or specialised. Interestingly while 'mainstream' seems like a relatively modern word, it's actually existed in this sense since about 1830.
Majority Interest - Owning more than 50% of the total shares in a company, and therefore more than 50% of the voting interest.
Make To Stock - In manufacturing, products which are made and stocked before customers orders have been received.
Makegood - In advertising, a free advertising slot given to a company by a TV station, magazine, etc., if the company's advert was previously run incorrectly.
Maladministration - In business or government, the act of incompetence or running a system in a dishonest way.
Managed Economy - An economy in which goods, allocation of resources and prices are determined by the government.
Managed Hosting - A type of Internet hosting in which the hosting supplier deals with technical issues and problems related to the website, in addition to the basic hosting of the website.
Management Buy-In - When a management team from outside a company acquires more than 50% of the company, so they become the majority shareholders, and then manage the company themselves.
Management Buy-Out - MBO. The purchase of all or part of a company by the company's existing managers.
Management By Exception - A management style in which managers give employees the authority to run projects, etc., by themselves and managers only become involved if the employees fail to meet certain criteria or standards.
Management Information System (MIS):A management information system is a computerized structure that gathers comprehensive data, organizes and summarizes it in meaningful information and then provides managers with the information needed to support operations and decision making functions in an organization. The information is provided often through an MIS division, the-main objective of the MIS is to supply the right types and amount of information to-each level of management. The key requirement for the proper functioning of the MIS is an effective combination of personnel, equipment and the supporting computer systems to provide useful information. Any single, factor is not sufficient to carry out the entire system. Within the MIS there are various subsystems to carry out specialized information. Five such subsystems are: the management support system (MSS), the decision support system (DSS), the accounting information system (AIS), the office information system (OIS), and the data manipulation and reporting system.
The above details describes about terms called in business such as Loss Leader,Loyalty Card,Low Yield,Madrid System,Magnetic Media,Mail order, Mainstream,Managed Economy, Managed Hosting etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in overseas trade below this post.Terms used in business such as Location ,Lock Out,Long Position ,Long Term Liabilities,Long Term Liability etc.
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