Management Glossary

  Terms beginning with c
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closed shop
A business where one or more groups of employees are required to be members of a specified labor union as a condition of employment.
Contributed by: ManagerWise

COB

Close Of Business

Contributed by: Managerwise Staff

cognitive dissonance
The discomfort that someone feels when trying to hold two or more opposing thoughts at the same time. In business, this has implications in at least two areas. In marketing, immediately after a major purchase, people will be uncomfortable thinking that they were foolish to make that purchase, so they will welcome messages that confirm the wisdom of the purchase and filter out the messages that counter it. In organizational behavior, it is suggested that one way to get people to change a behavior or a position is to assign them the task of preparing a case supporting the desired belief/behavior. In theory, this would create cognitive dissonance within them and, since they would feel foolish arguing in favor of something with which they disagree, they will begin to shift his or her belief/behavior. Obviously, there are limits to this theory.
Contributed by: ManagerWise Staff
See: organizational behavior

COGS
cost of goods sold
Contributed by: Managerwise Staff
See: cost of goods sold

COLA
Cost Of Living Allowance
Contributed by: ManagerWise Staff
See: cost of living allowance

collaboration
Two or more people interacting co-operatively in order to achieve one or more objectives.
Contributed by: Managerwise Staff
See: asynchronous collaboration

collaboration technology

Hardware, software and supporting services that are designed to help people work together more efficiently and effectively, whether or not they work in the same location.

Contributed by: Managerwise Staff

collateral
  1. (noun) An asset that is pledged against a loan. If the loan is not paid after the specified term and grace period, the lender may be able to seize the asset and recover any monies owing from its sale.
     
  2. (adjective) Accompanying, subordinate to, or supporting. As in "marketing collateral," which is some form of material that supports the marketing effort.

 

Contributed by: ManagerWise Staff
See: asset

competitive advantage
A unique condition that helps a company to succeed in profitable selling its products and/or services. Examples include significantly lower production costs than competitors, an innovative technology or a particularly well-recognized and respected brand.
Contributed by: ManagerWise Staff
See: brand

compound interest
Each interest payment is reinvested so that additionaly interest is earned on any interest payments received in previous periods.
Contributed by: ManagerWise Staff
See: simple interest

compressed work week
A work schedule in which the normal number of weekly labor hours is completed within fewer than the normal number of work days. For example, if a normal work week is 40 hours worked as eight hours a day, five days a week, an employee working under a compressed work week schedule might work 10 hours a day, four days a week.
Contributed by: Managerwise Staff

comptroller
The organization's chief accountant. Also spelled controller.
Contributed by: ManagerWise Staff

conjunctive task
A task that requires the efforts of multiple people and for which the level of success will be determined by "the weakest link". I.e., the task result level will be determined by the performance of the worst performer in the group that undertakes the task.
Contributed by: ManagerWise Staff
See: disjunctive task

constructive dismissal

Instead of firing an employee, creating conditions so bad that the employee quits rather than continue to tolerate the conditions. In many jurisdictions an employee who can prove that he or she was the victim of constructive dismissal would win a wrongful dismissal suit in a court of law.

Contributed by: Managerwise Staff

contingency plan

A usually, but not necessarily detailed plan of action that will be carried out should a possible, but usually unlikely event happen.

Contributed by: Managerwise Staff



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