These ratios are used to measure the profitability and financial stability of a firm, as well as to help control costs. They are obtained through the expression of each item […]

Revenue generated by the companys core business.

The risk that occurs when operations are stopped for a day.

Periodic report that compares the financial results of a company’s operations with the previous financial period and against projected figures.

A detailed plan that sets out how resources will be allocated to key operational objectives.

Operating software that runs while a computer is on. Most of the time, it has already been installed when the computer is purchased. The operating systems primary functions are: 1. […]

The time it takes a system to produce an output from the moment it is first requested by a user.

Balancing operating costs by moving expenses from one account to another.

Subsidiary of any corporation that is run like an independent company. An operating unit has its own structures, assets and liabilities, distinct from those of the parent corporation .

One day’s work performed by a tenant for his lord.

In general, the exertion of power; the process of operating or mode of action; au effect brought about in accordance with a definite plan. See Little Rock v. Parish, 3G […]

A legal outcome that automatically occurs whether or not the affected party intends it to.

Tests of an operational process designed to detect problems, measure outputs and assess reliability .

Decisions made during the course of day-to-day business that respond to short-term situations without recourse to the companys long-term goals and strategies.

Missions, targets and guidance that ensure necessary day-to-day tasks are completed appropriately.

The proportion of an operations maximum output that is currently being generated.

The risk that occurs when operations are flawed and errors occur.

The continuous improvement of an operation, achieved by a combination of problem-solving, teamwork and good leadership. Customer-focus, positive employees and continuous operational improvement help to achieve this standard.

Operations are managed in such a way that current resources and income are not depleted.

The impact upon continued operations caused by accidents and disasters.

The length of time it takes operational policies to achieve their intended effects.

A short-term goal that contributes to the companys long-term goals.

The performance of the company against prescribed standards, such as compliance with regulations, waste reduction , productivity , etc.

The process of maximizing the extent to which each unit within a business is contributing to the companys core goals.

A record of some aspect of operations that is produced by a particular business unit , distinct from universal admin records.