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Saturday, 11 May 2024, 1:42 PM
Site: Bcom International Supply Chain Management
Course: Bcom International Supply Chain Management (IMM)
Glossary: SCS Glossary
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Profit

Profit is income minus expenditures.

Profit Maximising Rule

Profit maximising rule

Progressive Tax

Progressive tax is where the % of tax paid increases as earnings increase.

Prospecting

Prospecting is the process of searching for new clients/customers.

Public

Groups of people who have a common interest or common values in a particular situation. 

Public Goods

Public goods are provided by the government for everyone to use, example parks.

Public Relations

The management function that establishes and maintains mutually beneficial relationships between an organisation and its public’s.

Public Sector

Public sector refers to all levels of government, from local councils to national government as well as all state owned enterprises.

Public Transport

Passenger transportation services, usually local in scope, that are available to any person who pays a prescribed fare. It operates on established schedules along designated routes or lines with specific stops and is designed to move relatively large numbers of people at one time.

 


Purchasing

The activity of purchasing is to acquire goods and/or services to meet the objectives of a business. Purchasing is done according to a standard as outlined in the procurement policy of the business.