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.
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.
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.
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.
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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