Management Glossary

  Terms beginning with t
take-or-pay product
A contract that obligates the purchaser to take the product sold and pay the purchase price or pay an agreed upon fee if the product is not taken.
Contributed by: ManagerWise Staff

tangible asset
A physical asset as opposed to an intangible one such as intellectual property or goodwill.
Contributed by: ManagerWise Staff
See: intellectual property, asset, goodwill

tax equalization plan

A employment compensation plan that a company may put in place for employees who accept assignments outside of their home countries, states or provinces. A tax equalization plan recognizes that different jurisdictions impose different tax rates on individuals working within their boundaries. The plan adjusts the compensation of employees assigned away from their home jurisdiction such that their take-home pay s(i.e., pay after taxes) are equal to what they would be if the employees were working in their home jurisdiction.

Contributed by: Managerwise Staff

TCO
Total Cost of Ownership
Contributed by: Managerwise Staff
See: total cost of ownership

telecommuting
Working from a remote location (typically home) and using communications technologies such as the Internet, phone and fax to connect to telecommuting colleagues, people working in the company's offices and others.
Contributed by: Managerwise Staff

Theory X

The hypothesis that some people will resist work if possible and that those people need to be managed closely and tightly supervised if they are to deliver adequate work results.

Contributed by: Managerwise Staff
See: Theory Y

Theory Y

The hypothesis that some people have strong work ethics and those people will be self-directing and committed to achieving favorable results for the company as long as they understand the company's objectives. According to the theory, managers' roles when managing these people should primarily be clearing away any roadblocks in the way of them doing their jobs.

Contributed by: Managerwise Staff
See: Theory X

third-party logistics

Contracting an outside company or individual to perform some logistics functions, such as warehousing or shipping.

Contributed by: Managerwise Staff

total cost of ownership
Typically abbreviated as TCO, it goes beyond the purchase price of a particular item to include all costs that must be incurred to use the item over time. Among others, costs considered in TCO include installation, maintenance, customization and management expenditures. TCO is often quoted and/or discussed by information technology vendors, particularly vendors delivering higher sticker prices, but lower TCOs.
Contributed by: Managerwise Staff

total quality management

A thorough, meticulous management methodology that focuses on quality in all aspects of an organization's operations.

TQM

Total Quality Management

Contributed by:
See: total quality management

trademark
A distinctive mark or symbol that represents a company and/or product. Trademarks can be registered with the proper authorities in a country, but even if not registered the usual rule is that the company that uses the symbol or mark first in a practical business context gains automatic rights to its exclusive use in that context.
Contributed by: ManagerWise Staff

transfer price
An internal price at which a good is sold from one unit of a firm to another or from one subsidiary to another. If the good is also sold to external customers the transfer price may or may not be the same as the price charged to external customers.
Contributed by: ManagerWise Staff

transit time

The total time elapsed from when a shipment is picked up from the sender and when it is delivered to the recipient.

Contributed by: Managerwise Staff

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