Business Dictionary

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An alphabetical listing of General terms and items.

Objective   Dico Tools
An end toward which effort is directed and on which resources are focused, usually to achieve an organization's strategy.

Obsolescence   Dico Tools
The decline of products in a market due to the introduction of better competitor products or rapid technology developments.

On-Site Sales Method   Dico Tools
Selling directly to the end user using a sales force that calls on the prospect at their home or place of business.

One Nation Under God   Dico Tools
A patriotic oath to the flag of the United States of America used by Americans to show their loyalty to their country.

Open Market   Dico Tools
A market that is widely available.

Open-end Credit   Dico Tools
A form of credit that does not have an upper limit on the amount that can be borrowed or a time limit before repayment is due.

Operating Cash Flow   Dico Tools
The amount used to represent the money moving through a company as a result of its operations, as distinct from its purely financial transactions.

Operating Costs   Dico Tools
Expenditures arising out of current business activities. The costs incurred to do business such as salaries, electricity, rental. Also may be called "overhead."

Optimize   Dico Tools
To allocate such things as resources or capital as efficiently as possible.

Option   Dico Tools
A contract for the right to buy or sell an asset, typically a commodity, under certain terms.

Order   Dico Tools
A contract made between a customer and a supplier for the supply of a range of goods or services in a determined quantity and quality, at an agreed price, and for delivery at or by a specified time.

Organizational Market   Dico Tools
A marketplace made up of producers, trade industries, governments and institutions.

Outsourcing   Dico Tools
Term used in business to identify the process of sub-contracting work to outside vendors. The transfer of the provision of services previously carried out by in-house personnel to an external organization, usually under a contract with agreed standards, costs, and conditions.

Overdraft   Dico Tools
The amount by which the money withdrawn from a bank account exceeds the balance of the account.

Overdraft Facility   Dico Tools
A credit arrangement with a bank, allowing a person or company with an account to use borrowed money up to an agreed limit when nothing is left in the account.

Overdrawn   Dico Tools
In debt to a bank because the amount withdrawn from an account exceeds its balance.

Overhead   Dico Tools
A general term for costs of materials and services not directly adding to or readily identifiable with the product or service being sold.

Overprice   Dico Tools
To set the price of a product or service too high, with the result that it is unacceptable to the market.

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