Friday, 15 December 2017

Important Business Terms

              (1)Bureaucracy

Bureaucracy is a body of non elective government officials or an administrative policy making group.
                
               (2)Strategy

The skill of making or carrying out plans to achieve a goal.

              (3)Benchmarking

Benchmarking is comparing an organization's processes and products to the world's best.

             (4)Entreprenurship

The process of launching a new venture,organizing the resources it requires and assuming the risks it entails.

               (5)Synergy

The combined activity of two or more subsystems that results in better performance than when the unit work in isolation.

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