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Business Jargons

A Business Encyclopedia

Sale & Lease Back and Direct Lease

Definition: The Sale & Lease Back and Direct Lease are the other kinds of leases that offer different benefits to the parties to the lease agreement. The lease refers to the contractual agreement between the lessor, who owns the property and the lessee to whom the right is transferred to use the lessor’s property for a particular period of time in return for periodical … [Read more...] about Sale & Lease Back and Direct Lease

Finance Lease and Operating Lease

Definition: The Finance Lease and Operating Lease are the very common form of lease agreements that an individual goes for. The lease is an agreement wherein the lessor grant rights to the lessee to use lessor’s property in exchange for certain periodic payments. Finance Lease:  The Finance Lease or Capital Lease refers to the agreement wherein the lessee gets the ownership … [Read more...] about Finance Lease and Operating Lease

Types of Leases

Definition: The Lease refers to the contractual agreement between the two parties, lessor and lessee, wherein the lessor, the owner of the property grant lessee the right to use his property for a particular period of time in exchange for the periodical rental payments. There are different types of leases that can be classified on the basis of the extent to which the risks … [Read more...] about Types of Leases

Informal Groups

Definition: The Informal groups are those groups that get created spontaneously as soon as individuals start interacting with each other. The informal groups are formed by the individuals to satisfy their social needs of affiliation, and they emerge on their own and hence not created by the management of the organization. Now the question arises that how the informal groups … [Read more...] about Informal Groups

Quality Circle

Definition: The Quality Circle refers to the group of individuals who meet on a regular basis to discuss the work-related problems. Generally, the quality circles are small group gatherings, led by the supervisor or the manager who presents the solutions to the management. The purpose behind the formation of a quality circle is to motivate employees to share the problems … [Read more...] about Quality Circle

Task Force

Definition: The Task Force is a type of a group, formed temporary, in which people from different disciplinary backgrounds come together to perform a specific task or mission. These are different from the committees in the sense, these are temporary and has broader powers of action and decision, greater responsibilities for investigation, analysis, planning and research. The … [Read more...] about Task Force

Committees

Definition: The Committees are the association of organizational people who come together to analyze, investigate and discuss the issues of concern and reach to the final conclusion. The committees are usually formed at different levels in the organization. The power and authority of the committee members are restricted to the extent delegated by the appointer. Also, there … [Read more...] about Committees

Formal Groups

Definition: The Formal Groups are formed deliberately and consciously collectively to direct the efforts of group members, especially the employees towards the accomplishment of organizational objectives. The formal groups are formed to fulfill any of the following purposes: To capitalize the expertise of each individual towards the accomplishment of complex tasks. … [Read more...] about Formal Groups

Types of Groups

Definition: The Group refers to two or more persons who shares a common interest and come together to achieve common goals and objectives. The groups can be formal and informal; formal groups are created by the organization with the intent to accomplish its objective, while the informal groups get created spontaneously as soon as the individuals interact with each other. Types … [Read more...] about Types of Groups

Job Enlargement

Definition: The Job Enlargement refers to the horizontal expansion of jobs wherein more and more activities, and tasks are added to the existing job scope at the same level in the organization. In other words, job enlargement means increasing the scope of duties and responsibilities of an individual by adding the related activities to his existing job profile and generally … [Read more...] about Job Enlargement

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