Business Management Concepts

noun the act of demanding payment or debt collection

adjective related to demanding payment or debt collection

• The company uses a dunning process to collect outstanding payments from customers.
• I received a dunning letter from the bank reminding me to pay my credit card bill.
• I hate when I get dunning emails from my landlord about rent.
• His constant dunning for attention was starting to annoy his friends.

verb to practice frugality or efficiency in the use of resources

• The company is economizing by implementing cost-cutting measures.
• We're economizing by cooking at home instead of eating out.
• I'm trying to save money by economizing on unnecessary expenses.
• She's economizing her time by delegating tasks to others.

noun a high-ranking military officer

adjective relating to or done by all people or things in a particular group or category

noun a temporary or permanent termination of employment

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• The company announced a layoff of 100 employees due to budget cuts.
• Did you hear about the layoff at the office? It's so sad.
• I can't believe they pulled the layoff card on us right before the holidays.
• The unexpected layoff of his favorite character in the show left him devastated.

noun the purchase of goods or shares by one person or party before the opportunity is offered to others

• The doctrine of preemption allows a federal law to take precedence over state laws.
• Preemption means the federal government can override state laws.
• Preemption is like the boss telling everyone else what to do.
• In the game of chess, preemption is like anticipating your opponent's move and countering it effectively.

adjective strong and able to withstand or overcome adverse conditions

• The company's robust financial performance led to increased investor confidence.
• His robust health allowed him to enjoy outdoor activities without any limitations.
• That car has a robust engine under the hood, it's a beast on the road.
• The team's robust defense was like a brick wall, impossible for the opponents to break through.

noun a tower or pit on a farm used to store grain or other feed

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• The farm had several silos for storing grain.
• We used to play hide and seek in the old silo on the abandoned farm.
• Let's hang out in the silo and chill for a bit.
• The company's strict hierarchy created silos between departments, hindering communication.

noun a brief period of time during which an activity is stopped or interrupted

adverb used to indicate a temporary suspension of activity

• The teacher gave the student a time out for misbehaving in class.
• I had to take a time out from studying to grab a snack.
• My mom put me in a time out for coming home past curfew.
• Sometimes we all need to take a time out to recharge and relax.

adjective a word that describes or modifies a noun or pronoun, in this case 'unsystematic' describes something that lacks a systematic approach or organization

• The research findings were inconclusive due to the unsystematic approach used in data collection.
• I couldn't find my keys because of my unsystematic way of organizing things.
• His study habits are so unsystematic, he's always cramming for exams at the last minute.
• The artist's unsystematic brush strokes created a chaotic yet intriguing masterpiece.

noun a word that represents a person, place, thing, or idea

verb a word that expresses an action, occurrence, or state of being

preposition a word that shows the relationship between a noun (or pronoun) and other words in a sentence

• During the evacuation drill, it is important to count noses to ensure everyone is accounted for.
• Hey, make sure to count noses before we leave the party so we don't forget anyone!
• Let's count noses before we bounce from this place.
• As a teacher, it's my job to count noses and make sure all my students are present and accounted for.

adjective showing care and thought for the future; wise and careful in planning ahead

• It is important to take a prudential approach when making financial decisions.
• You should be prudential with your spending to avoid going into debt.
• Being prudential with your choices can save you a lot of trouble in the long run.
• In life, it's always wise to take a prudential stance and think before acting recklessly.

noun a word that represents a person, place, thing, or idea

adjective a word that describes or modifies a noun or pronoun

preposition a word that shows the relationship between a noun (or pronoun) and other words in a sentence

conjunction a word that connects words, phrases, or clauses

• The new sports car may look impressive, but it's all show and no go when it comes to actual performance.
• That fancy-looking phone is all show and no go - it's slow and lags all the time.
• Don't be fooled by his flashy outfit, he's all show and no go when it comes to getting things done.
• Her promises of helping out were all show and no go, as she never actually followed through with any action.

noun a situation in which the cost of producing each unit of a good or service increases as a company grows larger and its production capacity expands

• The company experienced diseconomies of scale when its production costs increased as it expanded.
• When the business got bigger, it started spending more money than before due to diseconomies of scale.
• As the company grew, it started losing money because of diseconomies of scale.
• Like a balloon being inflated too much, the company faced diseconomies of scale as it expanded beyond its optimal size.

noun a professional accounting body recognized globally

adjective related to the Association of Chartered Certified Accountants (ACCA)

• The ACCA qualification is recognized and respected worldwide.
• I'm studying for my ACCA exams next month.
• I heard she's a real ACCA whiz.
• His dedication to his ACCA studies is like a marathon runner's commitment to training.

noun a price set by a government or other authority rather than by market forces

• The government sets the administered price for essential goods to ensure fair pricing for consumers.
• The administered price for movie tickets is way too high these days.
• I can't believe the administered price for that new phone is through the roof!
• In the world of luxury fashion, the administered price for designer handbags is always sky-high.

adverb in a deliberate and intentional manner

• The company advertently included all the necessary information in their marketing campaign.
• I don't think they advertently left out any details in the presentation.
• She advertently spilled the beans about the surprise party.
• His actions advertently led to the success of the project.