Definitions by Design - Business Management Glossary  
Business Management Definitions - O

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Objectives
The strategic goals of a business. An organization's performance targets – the results and outcomes it wants to achieve. Yardsticks used for tracking an organization’s progress and performance.

 

 

Oligopoly
The market situation or structure in which a small number of producing and selling companies supply a high percentage of the market. Some industries which are oligopolies are referred to as the Big ____, as in the Big 3 or the Big 4. Examples of American oligopolies include automobiles, men's slacks, and the music recording industry.

 

 

Outsourcing
Contracting out. The process of subcontracting specific functions (i.e. data analysis, customer support, research, etc.) to specialist companies outside the business. Offshoring is similar to outsourcing, but it typically refers to transferring work to another country.






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