Story about a family who, collectively, decides to drive to Abilene, Texas, despite the fact that, individually, none of them really wants to make the trip. Used as a parable to illustrate the dangers of organisational groupthink where the inclination to conform to the action of others takes priority over independent, rational decision-making proce [..]

The monies the company owes for goods or services received, but not yet paid for.

Current assets - current liabilities. This measures liquidity.

One firm gains a controlling interest in another.

Referral of a dispute to a third party for settlement or advice; method of settling an industrial dispute where a third party renders a binding decision.

Decrease in total employment of an organisation or industry through the normal course of events such as resignation, retirement or death.

A strategic, measurement-based management system, originated by Robert Kaplan and David Norton, which provides a method of aligning business activities to the strategy, and monitoring performance of strategic goals over time.

Barriers to entry are those things that make it difficult for a new company to compete against companies already established in the field. Examples include such things as patents, trademarks, copyrighted technology, and a dominant brand.

The use of performance or profiles as standards for measuring one’s own performance.

This is the contribution to classical management theory from the German academic Max Weber (1864 - 1920)