BUSINESS WORDS YOU SHOULD KNOW by H. DEAN McKAY Ph.D. & P.T. SHANK;

Author:H. DEAN McKAY, Ph.D. & P.T. SHANK;
Language: eng
Format: epub
Tags: epub, ebook
Publisher: H. Dean McKay, Ph.D., and P. T. Shank
Published: 2008-07-15T00:00:00+00:00

The leadership selection for each project was left up to the individual program directors.

See also: Leadership, Legacy, Succession

Leading Indicators

Those metrics that predict future economic activity in the United States.

The publication of leading indicators often triggers the stock market to rise or fall.

See also: Economics, Metrics

Lean Manufacturing

A systematic elimination of non-value-added efforts in a manufacturing process; a management process to improve quality and profitability at the same time.

Lean manufacturing processes have revolutionized the way many leading enterprises deliver products to their customers and manage their suppliers.

See also: Manufacturing, Quality, System

Lean Organization

An effective organization that strives for efficiency; a productive team.

The goal of the CEO was to reorganize the company in such a way that it became a lean organization instead of a wasteful one.

See also: Downsizing, Organizations, Rightsizing

Learning Curve

A way to show how long it takes for a person, team, or process to become efficient.

The young man was further along the learning curve than his contemporaries because he had learned much of the technique from his father, not just in school.

See also: Efficiency, Organizational Development, Period, Team Building

Learning Organization

Team and/or organization where people continually expand their capacity to create the results they truly desire, where new and expansive patterns of thinking are nurtured, where collective aspiration is set free, and where people are continually learning how to learn together; an organization where acquisition of knowledge is a key to success.

The new director hoped to make the department into a learning organization instead of allowing it to remain about completing paperwork and meeting quotas.

See also: Change, Change Management, Growth, Learning, Organizations, Teams

Lease

A contract by which a tenant (the “lessee”) takes possession of office space, furniture, equipment, or other property for a specified rent and specified amount of time.

The entrepreneurs were excited to find a small shop to lease at a very reasonable price.

See also: Agreement, Contract, Period

Lease Financing

Financing the acquisition of plant or equipment by leasing rather than buying it.

The researchers used lease financing to get the equipment since they would only need it for a few tests.

See also: Assets, Financing, Lease

Lease Purchase Agreement

An agreement wherein part of the lessee's monthly rent is applied toward the purchase of the property. When the agreed equity is reached, the ownership is transferred to the lessee.

The artist had a lease purchase agreement on his studio because he knew he wanted to stay in the area but couldn't afford to buy the building right away.

See also: Agreement, Contract, Equity, Lease, Period, Purchase

Ledger

A book of accounts of a firm.

Only the accounting staff and the treasurer had access to the ledger.

See also: Accounting, Bookkeeping, General Ledger

Legacy

The transfer of power from one generation of leadership to another; or an existing or antiquated system that continues to be used past its intended or expected life.

The founder of the firm hoped to leave a legacy of environmentally friendly manufacturing when he finally retired.

or

Today, the typewriter is considered by many to be a legacy machine.

See also: Computer, Leadership, Network, Succession, System

Lender

An individual or financial institution that temporarily lends out money with the expectation that it will be repaid in full with interest.

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