From the Publisher
"...a handy dictionary of a wealth of business-related terms and concepts." --CIO Insight
"… an essential source for everyone who needs to speak and write the language of business with clarity, impact, and ease." --New Equipment Digest
"...useful resource for users seeking basic, concise business definitions..." --Library Journal
“…the authoritative and complete definitions in The AMA Dictionary of Business and Management demystify business and management terminology, making communication more concise and effective.” --Booklist
“…offers a readable and useful dictionary of more than 6,000 key terms in the fields of business and management. The definitions are clear and concise...” --Choice
“…lays the foundation to scan what we know or don't know in a concise manner and to then move on to more in-depth investigation…” --Vancouver Business Journal
The more than 6,000 terms defined in this new reference work, compiled by Kurian (president, Encyclopedia Society), cover areas of business such as finance, investments, banking, insurance, economics, marketing, and accounting. Short entries about notable individuals are also provided. Entries generally range in length from one sentence to three paragraphs and are clearly presented and easy to understand. Since this dictionary is recently published, users should expect to see buzzwords that might not have appeared in dictionaries printed before the 2008 housing crisis and resulting recession—these include terms such as CDO, subprime, and quantitative easing. Unfortunately, some equally significant terms, such as underwater mortgage, right to work, cloud computing, and TARP, are missing. Although billed as a comprehensive resource for "professionals, instructors and students," this dictionary will be most useful to readers without a background in business who need introductory information, as many definitions merely skim the surface of very complex subject matter. There is a wealth of similar dictionaries on the market; individuals will want to consider both print-based works such as the American Heritage Dictionary of Business Terms and Oxford Dictionary of Business and Management (both of these resources are close substitutes for the AMA title and are less expensive) as well as online glossaries offered by reputable sources such as the Financial Times and the Washington Post. VERDICT While this is a useful resource for users seeking basic, concise business definitions, many higher-quality alternatives exist both in print and online.—Jennifer Michaelson, Cleveland
Read an Excerpt
A1 In life and marine insurance, rating
given to person or property in perfect
AAA Prime rating given to securities by
Standard and Poor’s.
AAP Affirmative Action
Abandonment 1. Final stage in a product
life cycle when the decision is made to discontinue
it. 2. Relinquishing a product to a
third party with or without a settlement or
Abandonment option Choice of terminating
an investment before its scheduled
ABB Activity-based budgeting
ABC Activity-based costing
ABC Audit Bureau of
Abilene paradox Th eory that some decisions
ostensibly based on consensus are
counterproductive because they are founded
on misperceptions and poor communications.
Proposed by Jerry Harvey, Professor
Emeritus of Management, George Washington
University, in 1974.
Abnormal return Rate of return for a risk
greater than that required or expected by
Above-the-line 1. Entries in a profi t-andloss
account that are within the ordinary
activities of business. 2. Entries in a balance
sheet dealing with revenue, as opposed to
capital. Compare Below-the-line. 3. Advertising
through television, radio, newspapers,
Abreaction channel Mechanisms for employees
to express dissatisfaction with their
work or their superiors.
Absence culture Corporate culture in which
absenteeism is condoned.
Absenteeism Unauthorized leave from
work, especially repeatedly.
Absolute cost advantage Cost of producing
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A 2 Th e AMA Dictionary of Business and Management
particular products as infl uenced by certain
advantages, such as cheap labor or abundant
Absolute cost barrier Built-in obstacle to
entry into a new market, such as the advantage
held by established or large fi rms.
Absolute market share Per capita income.
See Relative share.
Absolute monopoly Severe form of monopoly
in which production and distribution
of a product or service is in the hands
of a single corporation.
Absolute performance standard Th eoretical
standard of performance, such as Zero
defect, against which actual performance
may be judged.