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Enterprise resource planning (ERP)

Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.

FIX - IND

  • fixed price - A fixed price is a non-negotiable sum charged for a product, service or piece of work.
  • fixed price contract - A fixed-price contract, also known as a lump sum contract, is an agreement between a vendor or seller and a client that stipulates goods and/or services that will be provided and the price that will be paid for them.
  • flexible workforce - A flexible workforce is one that grows in number to meet needs at any given time and falls back to a baseline number when the increased size is no longer necessary.
  • flipping the classroom - Flipping the classroom is a teaching method that uses active learning techniques to engage students rather than traditional lectures alone.
  • float (project float, slack) - In project management, float or slack is the time span between the completion of the last task on the critical path and the finish date for the project.
  • flushing the queue - Flushing the queue is a call center procedure concerned with call volume management.
  • FMEA (failure mode and effective analysis) - FMEA (failure mode and effective analysis) is a step-by-step approach for collecting knowledge about possible points of failure in a design, manufacturing process, product or service.
  • forest-and-tree model - The forest-and-tree model is a logical structure for interconnecting multiple network domains in Windows 2000 and later operating systems.
  • format war - A format war is a competition for market dominance -- and often survival -- between two or more producers of a particular type of product.
  • Fortune 500 - The Fortune 500 is Fortune Magazine's annual ranking of the United States' 500 largest corporations.
  • four eyes principle - The four eyes principle is a requirement that two individuals review and approve some action before it can be taken.
  • fractional CIO - A fractional CIO is a high-level consultant who specializes in aligning information technology (IT) with business goals.
  • framing effect - Framing effect is a form of cognitive bias which causes people to focus more on the positive or negative aspects of a decision, situation or information based on the way it is presented.
  • freemium - Freemium is a way of promoting services by offering the basic features at no cost, charging a premium only for supplemental features.
  • frictionless commerce - Frictionless commerce is a method of using data from devices, apps and websites to integrate buying opportunities as simply and seamlessly as possible into consumers’ everyday activities and natural environments.
  • FTSE 100 - FTSE 100 is an index of the financial performance of the100 largest companies in the UK.
  • Fulfillment by Amazon (FBA) - Fulfillment by Amazon (FBA) is an advanced service in which third-party vendors store their products in Amazon’s fulfillment centers and the e-commerce giant picks, sorts, packs, ships, keeps records, and handles returns and refunds for these products.
  • fulfillment center - A fulfillment center is a warehouse where incoming orders are received, processed and filled.
  • funnel analysis - Funnel analysis is a way to measure and improve the performance of customer interactions in a step-wise progression from the initial customer contact to a predetermined conversion metric.
  • G-code - G-code (also known as RS-274) is the name of the most prevalent programming language for computer numerical control (CNC) in computer-aided design and manufacturing (CAD/CAM).
  • GAAP (generally accepted accounting principles) - GAAP (pronounced "gap"), which stands for "generally accepted accounting principles," is a collection of commonly followed accounting rules and standards for financial reporting.
  • GASB - GASB (Governmental Accounting Standards Board) is private not-for-profit organization that seeks to establish and improve the standards of accounting and financial reporting for U.
  • gazumping - Gazumping is when a seller accepts an offer from a buyer only to accept an increased offer from another buyer and sells to the second party.
  • GDSN (Global Data Synchronization Network) - GDSN (Global Data Synchronization Network) is an internet-based network that enables trading partners to exchange product-identification data in a standardized way in real time.
  • Genchi Genbutsu - Genchi Genbutsu is the Japanese principle of going to and directly observing a location and its conditions in order to understand and solve any problems faster and more effectively.
  • general ledger (GL) - A general ledger (GL) is a set of numbered accounts a business uses to keep track of its financial transactions and to prepare financial reports.
  • Generation Z - Generation Z is the demographic cohort following Generation Y -- which is more popularly known as the Millennial Generation.
  • geo-marketing - Geo-marketing is a tool that uses geographic, or location-based, information to help companies put together marketing strategies and campaigns.
  • geotargeting - Geotargeting is the practice of customizing an advertisement for a product or service to a specific market based on the geographic location of potential buyers.
  • ghost asset - A ghost asset is a fixed asset in a general ledger (GL) that cannot be accounted for because it is physically missing or otherwise rendered unusable.
  • gift economy - A gift economy is one in which services or goods are given without an agreement as to a suitable payment or trade to be made in return.
  • gig economy - A gig economy is a free market system in which temporary positions are common and organizations hire independent workers for short-term commitments.
  • globalization - Globalization is the process by which ideas, goods and services spread throughout the world.
  • GMP (good manufacturing practice) - A good manufacturing practice (GMP) is one that conforms to the guidelines set by the regulatory agencies that control authorization and licensing for the production and sale of food, beverages and active pharmaceutical products.
  • go bosh (Go Big or Stay Home) - Go bosh is cyberspeak for "Go Big or Stay Home," meaning that if you don't commit enough resources to your enterprise, you'll probably fail in your objectives.
  • go-live (go live) - In software development, go-live is the time at which code moves from the test environment to the production environment.
  • go-to-market strategy (GTM strategy) - A go-to-market strategy (GTM strategy) is an action plan that specifies how a company will reach target customers and achieve competitive advantage.
  • gold plating - Gold plating is the practice of making changes to a project that are outside of the original agreed-upon scope.
  • goldbricking - Goldbricking is wasting time on the job.
  • golden handcuffs - Golden handcuffs are a type of financial incentives designed to motivate employees to stay with a company longer than they might otherwise do.
  • golden parachute - A golden parachute is a severance agreement that provides an executive with a substantial package upon termination, usually in the event of a takeover or merger.
  • Google (the company) - Google is a multinational, publicly-traded organization built around the company's hugely popular search engine.
  • Google Adsense - Google AdSense is a program in which enterprises can display Google advertisements on Web sites and earn revenue from hits that generate traffic for the Google search engine s.
  • Google Trends - Google Trends is a free service provided by Google that displays how often specific keywords, subjects and phrases have been searched for on Google over a period of time.
  • GR/IR clearing accounts - A GR/IR (goods-receipt/invoice-receipt) clearing account is a bookkeeping device that can be used when goods arrive before the invoice is generated, or when an invoice arrives before the goods are delivered.
  • GRC (governance, risk management and compliance) software - GRC (governance, risk management and compliance) software allows publicly-held companies to integrate and manage IT operations that are subject to regulation.
  • great recession (Great Recession) - Great recession is a label used by journalists and  economists to describe a severe, prolonged economic downturn.
  • green IT (green information technology) - Green IT (green information technology) is the practice of environmentally sustainable computing.
  • green procurement - Green procurement is a continuous commitment to start-to-finish process management with consideration for environmental impact in business activities used to meet needs for materials, goods, utilities and services.
  • greenwashing - Greenwashing is the practice of making an unsubstantiated or misleading claim about the environmental benefits of a product, service, technology or company practice.
  • gross domestic product (GDP) - Gross domestic product (GDP) is the total amount of dollars made within a given location in the selling of all goods and services before deductions.
  • gross revenue - Gross revenue is the total of all money generated by a business, without taking into account any part of that total that has been or will be used for expenses.
  • group think - Group think (also spelled groupthink) is a phenomenon that occurs when group's need for consensus supersedes the judgment of individual group members.
  • Groupon - Groupon is a marketing service that offers its subscribers daily discount coupons by email, Facebook and Twitter feeds.
  • growth potential - Growth potential is an organization's future ability to generate larger profits, expand its workforce and ramp up its production.
  • GS1 - GS1 is a global, not-for-profit association that maintains standards for barcodes and RFID tags and for supply chain messaging such as Electronic Data Interchange (EDI).
  • guaranteed income - Guaranteed income is an umbrella term for a number of models designed to deliver funds to a given population.
  • hard skills - Hard skills are specific abilities, or capabilities, that an individual can possess and demonstrate in a measured way.
  • Hardware as a Service (HaaS) - Hardware as a Service (HaaS) is a service provision model for hardware that is defined differently in managed services and grid computing contexts.
  • Hardware as a Service (in grid computing) - Hardware as a Service (Haas), in a grid computing context, is a pay-as-you-go model for accessing a provider's infrastructure and CPU power.
  • hardware-as-a-service (in managed services) - Hardware-as-a-service (HaaS) is a procurement model that is similar to leasing or licensing in which hardware that belongs to a managed service provider (MSP) is installed at a customer's site and a service level agreement (SLA) defines the responsibilities of both parties.
  • Hawthorne effect - The Hawthorne effect is the modification of behavior by study participants in response to their knowledge that they are being observed or singled out for special treatment.
  • hierarchical corporate culture - A hierarchical corporate culture is an organizational model based on clearly defined corporate levels and structures.
  • high-frequency trading (HFT) - High-frequency trading (HFT) is the use of sophisticated software and high-end hardware to gain a speed advantage in automated trading systems.
  • HiPPO (highest paid person's opinion, highest paid person in the office) - HiPPOs (highest paid person's opinions) is a term used to describe an organization's reliance on executive instinct rather than data in the decision-making process.
  • holacracy - A holacracy is a governance structure characterized by a distribution of power among self-organizing groups, rather than the typical top-down hierarchical corporate culture model.
  • holding company - A holding company is a business that exists for the purpose of owning other companies and typically does not produce goods or offer services other than through its subsidiaries.
  • holistic (holistic technology) - Holistic (holistic technology) is a concept concerned with treatment of entire systems, rather than the analysis, treatment or segmentation of parts of those systems.
  • Hospitality Information Technology Association (HITA) - The Hospitality Information Technology Association (HITA) is an international association of hospitality educators, hardware and software vendors, information technology users, and consultants to the hospitality industry.
  • Host Analytics - Host Analytics is a provider of cloud-based corporate performance management (CPM) software.
  • hosted services - Hosted services are applications, IT infrastructure components or functions that organizations access from external service providers, typically through an internet connection.
  • hot desking - Hot desking is a work space sharing model in which employees outnumber desks.
  • hoteling - Hoteling (also called office hoteling) is the practice of providing office space to employees on an as-needed rather than on the traditional, constantly reserved basis.
  • HP Channel Services Network (HP CSN) - HP Channel Services Network (HP CSN) is a Web-based management system and membership program for HP's authorized channel service partners.
  • HP Partner First Program (formerly HP PartnerOne program) - HP Partner First is a channel partner program that provides resources and benefits for value-added resellers (VARs), systems integrators (SIs), service providers, hosting providers, independent software vendors (ISVs), distributors and other businesses that want to collaborate with HP Inc.
  • HRIS (human resource information system) - A human resource information system (HRIS) is software that provides a centralized repository of employee master data that the human resource management (HRM) group needs for completing core human resource (core HR) processes.
  • HubSpot - HubSpot is a company that sells software designed for inbound marketing, including content management, search engine optimization and other tools.
  • human capital management (HCM) - Human capital management (HCM) is a comprehensive set of practices and tools used for recruiting, managing and developing employees.
  • human resource management (HRM) - Human resource management (HRM) is the practice of recruiting, hiring, deploying and managing an organization's employees.
  • Human Resources (HR) Generalist - A human resources (HR) generalist is an employee in the HR department who handles a wide variety of responsibilities.
  • human-centric BPM - Human-centric business process management is an approach to BPM  that considers human skills and activities first and uses automated functions to support them.
  • hurdle rate - A hurdle rate is the required rate of return above which an investment makes sense and below which it does not.
  • hybrid manufacturing - Hybrid manufacturing is a term that describes combining additive manufacturing and subtractive manufacturing in a single machine system.
  • IBM Daksh (IBM Global Process Services) - IBM Daksh, also known as IBM Global Process Services, is a business process outsourcing (BPO) firm that was formerly known as Daksh eServices.
  • IBM OpenPages - IBM OpenPages is a governance, risk and compliance (GRC) platform that centralizes services and components associated with the challenges and management of regulatory initiatives.
  • IBM PartnerWorld - IBM PartnerWorld is a program run by IBM that outlines how the company works with IBM Business Partners such as VARs, systems integrators, managed service providers, consultants and independent software vendors.
  • ideation management - Ideation management refers to creating, gathering, analyzing, disseminating and executing on idea generation within the enterprise.
  • identity management (ID management) - Identity management (ID management) is the organizational process for ensuring that individuals have the appropriate access to technology resources.
  • IFRS (International Financial Reporting Standards) - IFRS (International Financial Reporting Standards) is a set of accounting standards developed by an independent, not-for profit organization called the International Accounting Standards Board (IASB).
  • IFS AB - IFS AB (Industrial and Financial Systems) is an ERP software vendor that specializes in asset-intensive, project-centric industries, such as manufacturing and distribution.
  • ikigai - Ikigai is a Japanese word whose meaning encompasses joy, a sense of purpose and meaning and a feeling of well-being.
  • impact sourcing - Impact sourcing is a service provision model in which jobs or tasks are outsourced to economically disadvantaged areas as a means of improving the situation of people living there.
  • impact-based advertising - What is impact-based advertising?Impact-based advertising is a form of advertising designed to have a lasting psychological effect on viewers so they will remember the product or vendor.
  • implied consent - Implied consent is an assumption of permission to do something that is inferred from an individual's actions rather than explicitly provided.
  • in-house marketing - In-house marketing is any marketing initiative that is not outsourced to a third party.
  • inbound marketing - Inbound marketing is a strategy that focuses on attracting customers, or leads, via company-created Internet content, thereby having potential customers come to the company rather than marketers vying for their attention.
  • incremental innovation - Incremental innovation is the introduction of small improvements or upgrades to already existing products, services, processes or methods.
  • Incremental Revenue (Value) Analysis - Incremental Revenue (Value) Analysis is a process used to calculate the value of each agent in a call center.

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