Hostile takeoverAn acquisition of a firm despite resistance by the target firm's management and board of directors.Total quality controlA philosophy and set of guiding concepts that provides a comprehensive means of improving total organization performance and quality by examining each process through which work is done in a systematic, integrated, consistent, organization-wide manner. Abbreviated TQM.Motivation theory/need hierarchy theory Psychological discipline that attempts to describe why people or animals behave as they do solely in terms of internal needs that drive behavior, rather than attributing any influence to external stimuli. theory X and theory Y assumptionT h e o r y XWith Theory X assumptions, management's role is to coerce and control employees.o People have aninherent dislike forwork and will avoid itwhenever possible.o People must becoerced, controlled,directed, orthreatened withpunishment in orderto get them toachieve theorganizationalobjectives.o People prefer tobe directed, do notwant responsibility,and have little or noambition.o People seeksecurity above allelse.T h e o r y YWith Theory Yassumptions,management's role is todevelop the potential inemployees and helpthem to release thatpotential towardscommon goals.o Work is asnatural as play andrest.o People willexerciseself-direction if theyare committed to theobjectives (they areNOT lazy).o Commitment toobjectives is afunction of therewards associatedwith theirachievement.o People learn toaccept and seekresponsibility.o Creativity,ingenuity, andimagination arewidely distributedamong thepopulation. Peopleare capable of usingthese abilities tosolve anorganizationalproblem.o People havepotential.The path-goal theory The theory states that a leader's behavior is contingent to the satisfaction, motivation and performance of his subordinates. The revised version also argues that the leader engages in behaviors that complement subordinate's abilities and compensate for deficiencies.Lean productionA production system consisting of manufacturing cells linked together with a functionally integrated system for inventory and production control that uses less of the key resources needed to make goods.Corporate restructuring Restructuring is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs.Business process reengineering the fundamentalrethinking and radicalredesign of businessprocesses to achievedramatic improvementsin critical contemporarymeasures ofperformance, such ascost, quality, service,and speed."[Emerging marketA foreign economy thatis developing inresponse to the spreadof capitalism and hascreated its own stockmarket. emergingmarkets have highpotential as well as highrisk.Corporate socialresponsibility iscommonly described byits promoters asaligning a company'sactivities with the social,economic andenvironmentalexpectations of its"stakeholders."Start-Up CostsExpenditures incurredafter the decision hasbeen made to establisha particular businessbut before businessoperations begin.Consumer behaviorinvolves thepsychologicalprocesses thatconsumers go throughin recognizing needs,finding ways to solvethese needs, makingpurchase decisions ,interpret information,make plans, andimplement these plans .Soft economyThe soft economymeans a form ofdevelopment ofeconomy that based onhuman resources andinformation resourceswhich include thetertiary Industry andQuaternary sector ofindustry.A capital market is amarket for securities(debt or equity), wherebusiness enterprises(companies) andgovernments can raiselong-term funds. It isdefined as a market inwhich money isprovided for periodslonger than a year[1], asthe raising of short-termfunds takes place onother markets .Yield management is theprocess ofunderstanding,anticipating andinfluencing consumerbehavior in order tomaximize yield or profitsfrom a fixed, perishableresource .As a specific,Yield Managementinvolves strategic control of inventory to sell it to the right customer at the right time for the right price.A core competency for a firm is whatever it does best.Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. PRODUCT-DRIVENPut focus on the research and development of a productclick-and-mortarA type of business model that includes both online and offline operations, which typically include a website and a physical store. Aclick-and-mortar company can offer customers the benefits of fast, online transactions or traditional, face to face service.economies of scale. The decrease in unit cost of a product or service resulting from large-scale operations, as in mass production. Economies of scopeAn economic theory stating that the averagetotal cost of productiondecreases as a result ofincreasing the numberof different goodsproduced.Bottom line The line in afinancial statement thatshows net income orloss.CONSUMER BASE Itmeans a group ofconsumers.Vertical integrationWhen a companyexpands its businessinto areas that are atdifferent points of thesame production pathHorizontal integrationWhen a companyexpands its businessinto different productsthat are similar tocurrent linesMergers andacquisitionsA general term used torefer to theconsolidation ofcompanies. A merger isa combination of twocompanies to form anew company, while anacquisition is thepurchase of onecompany by another inwhich no new companyis formed.Diversification Itseeks to increaseprofitability throughgreater sales volumeobtained from newproducts and newmarketsfiscal year Atwelve-month period forwhich an organization,such as a governmentor corporation, plansthe use of its funds.Umbrella brand is anoverarching brand usedacross multiple relatedproducts.MARKETING COMPANYThe activities of acompany associatedwith buying and sellinga product or service. Itincludes advertising,selling and deliveringproducts to people.New Economy is a termto describe the result ofthe transition from anindustrial/manufacturing-based economy. Thechange in the economicstructure created astate of permanentsteady growth, lowunemployment, and lowinflation.Phillips curveA curve describing therelationship betweenthe rate of inflation andthe unemployment rate.Marginal cost Thechange in total cost ofproduction when anoutput is varied by oneunitMetcalfe's law. Thevalue of a networkincreases exponentiallywith the number of nodesMoore's law The number of transistors and resistors on a chip doubles every 18months，and themachines will be cheaper.Gilder's lawIt states that "bandwidth grows at least three times faster than computer power." This means that if computer power doubles every eighteen months , then communications power doubles every six months. Knowledge workers intoday's workforce areindividuals who arevalued for their ability toact and communicatewith knowledge within aspecific subject area.new service economy itmeans a radical newpattern of serviceeconomy ，which putcustomers first.Mass customizationThe process ofdelivering wide-marketgoods and services thatare customized tosatisfy a specificcustomer needNiche Particularspecialty in which a firmhas garnered a largemarket share.Craft production is theprocess ofmanufacturing by handwith or without the aidof tools.Craft production (orOne-off Production) isthe process ofmanufacturing by handwith or without the aidof tools.Total Customer Valuerefers to purchase aproduct or serviceexpect to earn a groupof interest, it mainlyincludes product Valueand service Value,personnel V alue andimage Value, etc。