151
GlossARY
A/P is the monies the company owes for goods or
services received, but not yet paid for.
AIR is the monies due to the company for goods sold
or services rendered for which payment has not
yet been received.
Absenteeism Policy: A policy about attendance
requirements, scheduled and unscheduled time
ofi and measures for dealing with workplace
absenteeism. Repeated absenteeism can lead to
termination.
Absolute advantage: This is the simplest yardstick
of economic performance. If one ierson, firm or
country can produce more of something with the
same amount of effort and resources, they have
an absolute advantage over other producers.
. Being the best at something does not mean that
doing that thing is the best way to use your
. scarce economic resources. The question of what
to specialize in--and how to maximize the
benefits from international trade--is best decided
according to comparative advantage. Both
' absolute and comparative advantage rnay change
si gnificantly over time.
Access: Access to library materials and services, on
one dimension, is represented in the location of
physical facilities. Becduse libraries are traveled-
to outlets, marketing location theories can be
applied successfully to library sitting. (Wood
and Koontz)
Accountability: Libraries like private sector
businesses are increasingly called upon to make
all units accountable for results. Growing funds
are needed for technology as opposed to only
books. Funders often cut the library budget first,
in favor of other agencies such as police and fire
or other seemingly, more necessary agencies.
Libraries are developing better perfornance
measures within the present day control systems
to offer better accountability. (Wood and
Koontz)
Accountability: (in management science) The
responsibility of an organization to prbvide
evidence that its policies, prograrns, and projects
satisfy its interest groups.
Accounts Payable: (A/P) is the monies the company
owed for goods or services received, but not yet
paid for.
Accounts Receivable: (A/R) is the monies due to
the company for goods sold or services rendered
for which payment has not yet been received.
Acculturation: The process by which people in one
culture or subculture leam to understand and
adapt to the norms, values, life styles and
behaviors of people in another culture or
subcultures, Fcir example, acculturation is the
process by which a recent immigrant learns the
way of life of the new country. Library services
and materials facilitate this process.
Acquisition value; The users' perception of the
refative worth of a product or service to them.
Formally defined as the subjectively weighted
difference between the most a buyer would be
willing to pay for the product or service, less the
actual price of the item. Time user must spend to
'acquire' is often used as a surrogate for .relative
worth or price paid,' in library research. For
example, a user might be willing to expend drive
time and a brief time in the library to check out a
best seller, but not wait two weeks for a copy to
be returned.
Abtion team: (in planning) A group of people who
are responsible for implementing a specific
improvement goal.
Activities, Interests, and Opinions (AIO): A
measurable series of psychographic (as opposed
to demographic) variables involving thg interesrs
't
 ls2
and beliefs of users. Note, because
psychographics are usually expensive to gather,
yet offer a more precise profile of users,
demographic variables are usually relied upon.
Activity-based costing (ABC) aims to provide a
dynamic and realistic means of calculating the
true cost of doing business. It precisely allocates
direct and indiiect costs to particular products or
customer segments.
Activity-Based Costing (ABC): aims to provide a
dynamic and realistic means of calculating'the
true cost of doing business. It precisely allocates
direct and indirect costs to particular products or
customer segments.
Adaptive expectations: A theory of how people
form their views about the future that assumes
they do so using past trends and the errors in
their own earlier predictions. Contrast with
rational expectations.
Administrative culture: The prevailing attitudes,
values, beliefs, and rules for acting within an
organization.
Administrative Services OnIy (ASO): The hiring of
a firm (usually a health care vendor) to handle
certain administrative tasks. The firm does not
assume any risk but merely carries out the
specialized functions that the employer cannot or
does not want to do. For example, an employer
funds its own dental insurance claim payments
but pays the ASO firm to process the claims.
Aflirmative action: Proactive policies aimed at
increasing the employment opportunities of
certain groups (typically, minority men and"/or
women of all racial groups). Title 5, Section 503
of the Rehabilitation Act requires that
affirmative action be taken in employment of
persons with disabilities by Federal contractors.
Affirmative action was designed to rectify past
discrimination but has been controversial since
its inception.
Agent (Insurance): An employee who sells the
products owned by the company, in contrast to a
broker, who sells the insurance products of
several companies. See Broker.
Alternate Dispute Resolution (ADR): An informal
process to resolve disputes. Involved parties
meet with a trained third party who assists in
resolving the problem by arbitration, mediation,
judicial settlement conferences, conciliation or
o.*"r methods. Though usually voluntary, ADR
is sometimes mandated by a judge as a first step
before going to court.
Americans with Disabilities Act (ADA): Title I of
the Americans with Disabilities Act of 1990 is
part of a federal law that prohibits discnmination
against someone with a disability, defined as ,.a
physical or mental impairment that substantially
limits a major life activity." Disability is decided
on a case-by-case basis and does not include
conditions such as substance abuse. This law
applies to the whole employment cycle, from
application through advancement and
termination.
Application Service Provider (ASP): Other
common terms are SAAS (software as a
service), on-demand or Web-based services. A
business that provides computer-based services
to customers over a network, as opposed to
installing the software on a company servel
(hosted). This is a cost-effective solution for
small and medium-sized businesses, who may
find it hard to keep up with the increasing costs
of specialized software, distribdtion and
upgrades. Smaller, periodic payments ieplace
one-time lump sum pricing. The ASP can be
accessed from any location via the Internet.
Hrmarketer.cbm is an example.
Applicant Tnacking System (ATS): A software
application that,began as a way to electronically
handle recruitment needs but has since expanded
to the entire employment life cycle. On
boarding, training and .succession planning
capabilities now exist, for example. An ATS can
be implemented on an enterprise level or small
business level, depending on the size and needs
' of the company. Applicant Tracking Systems
may also be referred to as Talent Management
Systems. An ATS saves time and increases
efficiency and compliance for those tasked with
managing human capital.
Attrition: A gradual voluntary reduction of
employees (through resignation and retirement)
who are not then replaced, decreasing the size of
the workforce.
Adopter categories: Persons or agencies that adopt
an innovation are often classified into five
groups according to the sequence of their
adoption of it. (To illi.rstrate' this think of
individual use of the Internet within the library,
and for an agency, libraries that offer Intemet
access to the general public. 1) Innovators (first
 153

tep 2-5Vo); 2) Early adoprers (tO-ll7o)' 3) Early
majority (next 35Vo); 4) Late majority (next
35Vo); 5) Laggards (final 5-10%o). This is
of important when considering how long it may
)is
take for the general public to 'adopt' a product
ion or service.
t'a
Adverse selection: When you do business with
.lly
people you would be better off avoiding. This is
led
one of two main sorts of market failure often
rde
associated with insurance. The other is moral
Law
hazard. Adverse selection can be a problem
'om
when there is asymmetric information between
and the seller of insurance and the buyer; in
particular, insurance will often not be profitable
when buyers have better information about their
ther
risk of claiming than does the seller. Ideally,
la
insurance premiums should be set according to
.A the risk of a randomly' selected person in the
ices
insured slice of the popglation (55-year-old male
to
smokers, say).
:ver
for Adventlsing: Many firms advertise their goods or
nay services, but are they wasting economic
lsts resources? Some economists reckon that
and advertising merely rnanipulates consumer tastes
ace and creates desires that would not otherwise
be exist. By increasing product differentiation and
net. encouraging brand loyalty advertising may make
consumers less price gensitive, moving the
tale market further from perfect competition towards
illv ' imperfect competition and increasing the ability
ded
of firms to charge more than marginal cost.
Heavy spending on advertising may also create a
On
ing barrier to entry, as a firm entering the market
would have to spend a lot on advertising too.
can
nall Advertising: The placement and purchase of
eds announcements and persuasive messages in time
)ms or space in any of the mass media by business
lent firms, nonprofit organizations. This has not been
ISES a traditional method for libraries of informing
vith the public, but rather public service
announcements, which are placed at no cost, are
the norm.
of
:nt) Agency costs: These can arise when somebody (the
,o1 principal) hires somebody else (the agent) to
carry out a task and the interests of the agent
conflict with the interests of the principal. An
opt
ive example of such principal-agent problems comes
reir from the relationship between the shareholders
who own a public company and the managers
of
lry' who run it. The owners would like managers to
run the firm in ways that maximize the value of
xet
irst their shares, whereas the managers'priority may
be, say, to build a business empire through rapid
expansion and mergers and acquisitions, which
rnay not increase their firm's share price.
Aggregation: A concept of market segmentation thar
''assumes
that most consumers are alike.
Aglng: The length of.time merchandise has been in
stock. For
All-you-can-afford budgeting: An approach to the
advertising budget that establishes the amount to
be spent on advertising as the funds remaining
after all other necessary expenditures and
investments are covered. Libraries often relegate
all promotion related materials and services into
this category.-
Altruism: It is
often alleged that altruism is
inconsistent with economic rationality, which
assumes that people behave selfishly. Certainly,
much economic analysis is concerned with how
individuals behave, and homo economicus
(economic man) is usually assumed to act in his
or her self-interest. However, self-interest does
not necessarily mean selfish. Some economic
models in the field of behavioral economics
assume that self-interested individuals behave
altruistically because they get some benefit, or
utility, from doing so. For instance, it may make
them feel better about themselves, or be a useful
insurance policy against social unrest, say. Some
economic models go further. and relax the
traditional assumption of fully rarional behavior
by simply assuming that people sometimes
behave altruistically, even if this may be against
their self-interest. Either way, there is much
economic literature about charity, international
aid, public spending and redistributive taxation.
Ambiance: An overall feeling or mood projected by
a storo through its aesthetic appeal to human
senses. A brightly colored children's room is
more appealing.to juveniles than an
area
sectioned off within the adult room which blends
in.
Amortization: The running down or payment of a
loan by installments. An example is a repayment
mortgage on a house, which is amortized b3r
making monthly payments that over a pre-agreed
period of time cover the value of the loan plus
interest. With loans that are not amortized, the
borrower pays only interest during the period of
the loan and then repays the sum borrowed in
full.

Analysis: In marketing and other social science
disciplines, a variety of statistical and non
statistical methods are used to analyze data,
instead of sheer intuition, or simple descriptive
statistics-- which have been the norm in the
library filed. (Wood and Koontz)
Animal spirits: The colorful name that Keynes gave
to one of the essentiai ingredients of economic
prosperity: confidence. According to Keynes,
animal spirits are a particular sort of confidence,
"naive optimism". He meant this in the sense
that, for entrepreneurs in particular, "the thought
of ultimate loss which often overtakes pioneers,
as experience undoubtedly tells us and them, is
put aside as a healthy man puts aside the
expectation of death". Where these animal spirits
come from is something of a mystery. Certainly,
attempts by politicians and others to talk up
confidence by making optimistic noises about
economic prospects have rarely done much
good.
Antitrust: government policy for dealing with
monopoly. Antitrust laws aim to stop abuses of
market power by big companies and, sometimes,
to prevent corporate mergers and acquisitions
that would create or strengthen a monopolist.
There have been big differences in antitrust
policies both among countries and within the
same country over time. This has reflected
different ideas about what constitutes a
monopoly and, where there is one, what sorts of
behavior are abusive.
Appreciation: A rise in the value of an asset and the
opposite of depreciation. When the value of a
currency rises relative to another, it appreciates.
Arbitrage pricing theory: This is one of two
influential economic theories of how assets are
priced in the financial markets. The other is the
capital asset pricing model. The arbitrage pricing
theory says that the price of a financial asset
reflects a few key risk factors, such as the
expected rate of interest, and how the price of
the asset changes relative to.the price of a
portfolio of assets. If the price of an asset
happens to diverge from what the theory says it
- should be, arbitrage by investors should bring it
back into line.
Arbitrage: Buying an asset in one market and
simultaneously selling an identical asset in
another market at a higher price. Sometimes
these will be identical assets in different
154
markets, for instance, shares in a company Iisted
on both the London Stock Exchange and New
York Stock Exchange. Often the issets being
arbitraged will be identical in a more
complicated way, for example, they will be
different sorts of financial securities that are
each exposed to identical risks.
Assets are all of a company's physical or intellectual
property that has financial value.
Assets: Things that have eaming power or some
other value to their owner.
Asymmetric information: When somebody knows
more than somebody else. Such asyrnmetric
information can make it difficult for the two
people to do business together, which is why
economists, especially those practicing game
theory, are interested in it. Transactions
involving asymmetric (or private) information
are everywhere. A government selling
broadcasting licenses does not know what
buyers are prepared to pay for them; a lender
does not know how likely a borrower is to repay;
a used-car seller knows.more about the quatiiy
of the car being sold than do potential buyers.
This kind of asymmetry can distort people's
incentives and result in significant inefficlencies.
Asymmetric shock: When something unexpected
happens that affects one economy (or part of an
economy) more than the rest. This can create big
problems for policymakers if they are trying to
set a macroeconomic policy that works for both
the area affected by the shock and the unaffected
area. For instance, some economic areas may be
oil exporters and tthus highly dependent on the
price of oil, but other areas are not. If the oil
price plunges, the oil-dependent area would
benefit from policies designed to boost demand
that might be unsuited to the needs of the rest of
the economy. This may be a constant problem
for those responsible for setting the interest rate
for the euro given the big differences--and
different potential exposures to shocks--among
the economies within the euro zone.
Atmospherics: The physical characteristics of the
library such as architecture, layout, signs. and
displays, color, lighting, temperature, access,
noise, assortment, prices, special events, etc,,
that serve as stimuli and attention attractors of
users to the library or information agency.
Attitudes: Enduring systems of positive or negarive
evaluations, emotional feelings, and action
 155

tendencies with respect to an object. Consumer's
isted
New overall liking or preference for an object'
reing Auctions: Going, going, gone. Holding an auction
nore can be an extremely efficient way for a seller to
lbe set the price of its products, especially if it does
are not have much information about how much
people may be willing to pay for thpm. Auctions
:tual fascinate econothists, especially those who
specialize in game theory. They have long been
a feature of the sale of art and antiques in the
ome rooms of firms such as Sotheby's and Christie's.
But in recent years they have played a growing
role in other parts of the economy, ranging from
ows
:tric 'the allocation of govemment-controlled
the functions required by the job. The screening
can involve criminal background checks,
verification of Social Security numbers, past
addresses,' age or year of
birth, corporate
affiliations, bankruptcies, liens, drug screening,
skills assessment and behavioral assessments. If
an employer outsources pre-employment
screening, the federal Fair Credit Reporting Act
requires that there must be a consent and
disclosure form separate from an employment
application.
Base Wage Rate (or base rate): The monthly salary
or hourly wage paid for a job, irrespective of
benefits, bonuses or overtime.

two broadcasting bandwidth to the awarding of work Balanced Scorecard: A strategic planning and
why . to subcontractors by governments and big firms management system that is used to tie business
ame using competitive tendering, and even more activities to the vision and strategy of the
ions recently the sale of goods over the Intemet. organization, improve internal and extemal
.tion Audience: The number and/or characteristics of the communications, and monitor perFormance
ling persons or households who are exposed to a against goals. Developed in the early 1990's by
vhat particular type of advertising media or media Drs. Robert Kaplan and David Norton, the
rder vehicle. In a library this could be a certain balanced scorecard measure four areas of
pay; number of people that,attend a library program. business: internal business processes, financial
rlity performance, customer knowledge, and learning
,ers. Audit: The process of reviewing the library's and growth.
rle's strengths and weaknesses (internally), and
opportunities and threats (externally) to shed Benchmark Job: A job commonly found in the
ies.
light on the agency's performance' workforce for which pay and other relevant data
:ted are readily available. Benchmark jobs are used to
be self-
Ian ,Autarky: The idea that a country should make pay comparisons and job evaluations.
big . sufficient and not take part in international trade.
The experience of countries that have pursued
Benchmarking: A technique using specific
Ito standards to make comparisons between
roth this Utopian ideal by substituting domestic different organizations or different segments of
:ted production for imports is an unhappy one. No
,be the organizations, with the intent of improving a
country has been able to produce the full range product or seryice.
the of goods demanded by its population at -

oil competitive prices. Indeed, those that have tried Benefits Administration: Software that helps
,uld
to do so have condemned themselves to companies manage and track employee
and
inefficiency and comparative poverty, compared participation in benefits programs such as
tof healthcare, flexible spending accounts, pension
with countries that engage in international trade.
Iem
plans, etc. This software helps automate and
:ate Average: A number that is calculated to summaries streamline the complex and otherwise time-
lnd a grcup of numbers. The most commonly used
consuming tasks of benefits administration.
)ng average is the mean, the sum of the numbers
. divided by however many numbers there are in Behavioral-based interview: An interview
ｈ
ｔ・
ｅｄ

the group. The median is the middle value in a technique used to determine whether a candidate
ｎヽ﹂ｆ

group of numbers ranked in order of size. The is qualified for a position based on their past
mode is the number that occurs most often in a behavior. The interviewer asks the candidate for
group of numbers' Take the following group of specific examples from past work experience
ｏ

numbers: l, 2, 2, 9, 12, 13, l7 when certain behaviors were exhibited'

Background Screening / Pre-employment Behavioral competency: The behavior qualities and

Screening: Testing to ensure that employers are character traits of a person' These act as markers
lVe
hiring qualified and honest employees and that a
that can predict how successful a person will be
ion
prospective employee is capable of performing
 156

tlttint糖
1:lT糧器 精 :盤t温￨
繋
翼響1ls』is ttЪ nRIttt∬ :an:遇 鮨
possesses thenll

BI

認糊 鋸」
LttT熱 鷺H
盤擬

currcnt accOunt and the capital accOunt. The

current account includes:

BJ鵠
淋1譜 盤暮1樋肥:[計 l宙 蛯ぬ
。

恥 P%s庶
淵 a‖識:メ
BJl鳳
胤扁鷺l熙:翼 :LII胤 器｀ e
gns profitability of traditional bank lending and has
lng led many banks to enter new areas of business,
〕to such as selling insurance policies and mutual
lct. funds. Increasingly, too, traditional banks are
lZZ selling off parcels of their loans in the financial
markets by. a process called securitization.
Жｂ ｂ ｌ
Bankruptcy: When a court judges that a debtor is
unable to make the payments owed to a creditor.
Horv bankrupts are treated can affect economic
ｙ
，ｅ
gowth. If bankrupts are punished too severely,
・ｈ
ｒＣ
would-be entrepreneurs may be discouraged
︰ いｉ ∬
from taking the financial risks needed to make
the most of their ideas. However, letting off
ｎ
defaulting debtors too readily may discourage
potential creditors because of moral hazard.
Barcode: An information technology application
ｅ ｈ ｎ ■
ｙ ｅ ｅ
that uniquely identifies various aspects of
product characteristics, increasing speed,
accuracy, and productivity of distribution
process. Most library materials are bar coded for
℃
security.
Barriers to entry (or exit): How firms keep out
competition--an important source of incumbent
advantage. There are four main sorts of barriers.
)r Barriers to Entry: Barriers to entry are those things
g that make it difficult for a new company to
)r compete against companies already established
in the field. Examples include such things as
lt . patents, trademarks, copyrighted technology, and
d ' a dominant brand.
y
Barter: Paying for goods or services with other
r
goods or services, instead of with money. It is
often popular when the quality of money is low
S
or uncertain, perhaps because of high inflation or
〕
t counterfeiting, or when people are asset-rich but
cash-poor, or when taxation or extortion by
l criminals is high. Little wonder, then, that barter
l
became popular in Russia during the late 1990s.
t
Basis point: One one-hundredth of a percentage
point. Small movements in the interest rate, the
exchange rate and bond yields are often
described in terms of basis points. If a bond
yield moves from 5.25Vo to 5.45Vo, it has risen
by 20 basis points.
Bear: An investor who thinks that the price of a
particular security or class of securities(shares,
say) is going to fall; the opposite of a buli.
Behavioral Economics: A branch of economics that
concentrates on explaining the economic
' decisions people make in practice, especially
when these conflict with what conventional
economic theory predicts they will do.
Behaviorists try to augment or replace traditional
ideas of economic rationality (homo
economicr+s) with decision-making models
borrowed from psychology. According ro
psychologists,, people are disproportionately
influenced by a fear of feeling regret and will
often forgo benefits even to avoid only a small
risk of feeling they have failed. They are also
prone to cognitive dissonance, often holding on
to a belief plainly at odds with new evidence,
usually because the belief has been held and
cherished for a long time. Then there is
4nchoring: people are often overly influenced by
outside suggestion. People apparently also suffer
from status quo bias: they are willing to take
bigger gambles to maintain the status quo than
they would be to acquire it in the first place.
Benchmarking: Benchmarking is the process of
gathering information, about other companies in
our industry to compare your performance
against and to use to set goals.
Benefit segmentation: The process of grouprng
users into market segments on the basis of the
desirable consequences sought from the product.
For example, the library market for children's
books, may include children and parents who are
benefiting by developing the library and reading
habit, and or recent immigrants who benefit
from learning the language of the new country.
Each is receiving a benefit from the product or
service.
Benefit-cost analysis: Relationship of projected
outcomes to projected costs, with both outcomes
and costs expressed in monetary terms.
Black economy: If you pay your cleaner or builder in
cash, or for some reason neglect to tell the
taxman that you were paid for a service
rendered, you participate in the black
or
underground economy. Such transactions do not
normally show up in the figures for GDP, so the
black economy may mean that a country is much
richer than the official data suggest. In the
United States and the UK, the black economy
adds an estimated 5-l0%o to GDP; in Italy, it
may add 3OVo. As for Russia, in the late 1990s
estimates of the black economy ranged as high
as 50Vo of GDP.
Black-Scholes Equation: The Black-Scholes
equation is used to determine the value or price
 158
of a stock option. It is a comparatively simple
formula, with only a few common variables,
developed by Fisher Black and Myron Scholes
in 1973.It makes some simplifying assumptions
about free-market economics, but it has become
an industry standard.
Block group: (census) A subunit of a census tract or
block numbering area, typically having 1,000
residents.
Block numbering area: (census) Similar to.a census
tract; a term used by the Bureau of the census
for areas lacking census tracts.
Block: (census) These are the smallest of the census
geographic designations. They are roughly
equivalent to a city block and provided for areas
lacking census tracts.
Body language: The nonverbal signals
communicated in interactions through facial
expressions, arms, legs and hands--or nonverbal
communication. This can be positive ( a smile)
or negative Books on reserve.
Bottom Line: Bottom Line refers to the bottom line
of an Income Statement. The bottom line shows
the Net Income Available To Shareholders.
When a company talks about increasing the
bottom line, they moan doing things to either
increase the revenue or decrease expenses so the
company's income increases.
Bottom-up process (in planning): To transmit ideas
and recommeqdations from the bottom of an
organization to its higher levels
Bounded rationality: A theory of human decision
making that assumes that people behave
rationally, but only within the limits of the
information available to them. Because their
information may be inadequate (bounded) they
make take decisions that appear to be irrational
according to traditional theories about homo
economicus (economic man).
Brainstorming: A structured method to address
problems by asking people to rapidly propose
ideas, while the group temporarily withholds its
comments and criticisms.
Brand: A name, term, design, symbol, or any other
feature that identifies one seller's good or
service as distinct from those of other sellers.
The legal term for brand is trademark. A brand
may identify one item, a family of items, or all
items of that seller. If used for the firm as a
whole, the preferred term is trade name. Ubrary
could be considered a trade name. C:
Break-Eyen Point: The break-even point is the
point at which income matches expenditures. CI
Typically, initial expenditures are high. It takes
time for the income to reach the same level. The
break-even point can apply to a product, an
investment, or the entire company's operations.
Broadcast television: A method of distributing
television signals by means of stations that
broadcast signals over channels assigned to
specific geographic areas.
Budget: The detailed financial component of the
strategic plan that guides the allocation of
resources and provides a mechanism for
identifying deviations of actual from desired
performance so corrective action can be taken. A
budget assigns a dollar figure to each revenue
and expense related activity. A budget is usually
prepared for a period of one year by each
component of an organization.. A budget
provides both a guide for action and a means of
assessing performance. A budget is a library's
post control system.
Bureaucratic organization: Official decision
making is circumscribed by laws, rules, and
regulations which often result in inflexibility,
"red tape" and slowness to act. A hierarchical
business structure, unlike business that operates
in a competitive environment that does not
reward slow decision making if it results in poor
sales or customer service. Library's are often
Burnout: Bumout is the term given to the physical
or psychological condition induced in workers
by overwork or overexposure to stress in the
workplace.
Cafeteria Plan: A plan in which an employer offers
employees a variety of different benefits. The
employee is able to choose which benefits would
fit their individual needs. Examples of benefits
offered in the cafeteria include group+erm life
insurance, dental insurance, disability and
accident insurance, and reimbursement of
healthcare expenses.
Balanced Scorecard: The balanced scorecard is a
strategic management and measurement system
that links strategic objectives to a comprehensive
range of key performance indicators, to provide a
balanced view.

ily
Can best compete in the markets it elects to serve.
The strategic plan is based upon the totality of
he
Cannibalize: Eating people is wrong. Eating your
:CS own business may not be. Firm:s used to be
he reluctant to launch new products and services
that competed with what they were already
an
' doing, as the new thing would eat into
(cannibalize) their existing business. In today's
ng
innovative, technology-intensive economy,
rat
however, a willingness to cannibalize is more
to
often seen as a good thing. This is because
innovation often takes the form of what
・ ｏ Эガ Ａ ︲
ｏｆ ｒ
economists call creative destruction, in which a
superior new product destroys the market for
existing products. In this environment, the best
course of action for successful firms that want to
avoid losing their market to a rival with an
ｃ ｙｈ ｉ ｆ ｓ
ｌ ，
innovation may be to carry out the creative
destruction themselves.
CAN-SPAM Act (Controtling the Assault of Non-
Solicited Pornography and Marketing Act):
that regulates
Congressional legislation
commercial emails (i.e. Commercial
or promotion) and sets clearly
advertisement
n
d defined opt-out standards. Any billing,
warranties, product updates or customer service
I
information is not included in this act. E-mail
S
, newsletters that are not considered
.advertisements are also exempt.
t appraisal. Compensation is effectively managed
r Capitated Pricing: Vendors deliver contracted
services for a set amount of money per employee
I
per month. . This can be a risky strategy for.
vendors whose profitability is directly tied to
: how much the services are or are not used (e.g.,
eaps).
Carrier: A vendor in the employee benefits space.
More commonly used in reference.to health care.
Carriers (e.g., Met Life, Blue Cross, Aetna, etc.)
Sell their products through Brokers &
Consultants, but may also sell .to an employer
directly.
Carve-Out: The elimination of coverage of
specific category of benefit services (e.g. Vision
care, mental health/psychological services, or
prescription drugs). The employer opts out of
certain services with one vendor and contracts
another to deliver them.
Change management: A deliberate approach for
transitioning individuals or organizations from
one state to another in order to manage and
159
monitor the change. Change management can be
conducted on a continuous basis, on a regular
schedule (such as an annual review), or when
deemed necessary on a program-by-program
basis.
Coaching: A method of training an individual or
group in order to develop skills or overcome a
performance problem. Coaching can be between
a manager and a subordinate or an outside
professional coach and one or more individuals.
There are many coaching methods and models,
but close observation, accountability and
feedback on progress and performance are
usually included.
COBRA: Consolidated Oumibus Budget
Reconciliation Act. 1985 Federal law that
requires employers to offer continued lrealth
insurance coverage to terminated employees and
their beneficiaries. The coverage may continue
for the following cases: termination of
employment, change in working hours, change
in dependent status or age limitation, separation,
divorce, or death.
Collective Bargaining: One or more unions meeting
with representatives from an organization to
negotiate labor contracts.
Compensation: Pay structures within an
organization. It can be linked to employee
if performance is measured adequately.
Competency-based pay: Competency-based pay,
alternately known as skill-based and knowledge-
based pay, determines compensation by the type,
breadth and depth of skills that employees gain
and use in their positions.
Competency Modeling: A set of descriptions that
identify the skills, knowledge, and behaviors
. needed to effectively perform in an organization.
Competency models assist in clarifying job and
work expectations, maximizing productivity, and
aligning behavior with organizational strategy.
a
Competitive advantage: In the context of Human
Resources, competitive advantage refers to the
quality of the employees, as a competing
organization's systems and processes can be
copied but not its people. All other things being
equal among competing companies, it is the
company with better employees that has the
competitive advantage.
 160

cOnrldentiality agreelllent:An agrcement bctwecn

an cmp10yer and cmp10yce in which thc
should possess these qualities in order to

∝
C「°dav∝
advance business goals.

器麗ila胤 淵 。
p五
F劇 Cost-Benefit Analysis: The ability to measure the
costs associated with a specific program, project,
Constructive disn」 ssal: An cmployer's behavior
or benefit. The cost is then compared to the total
精
鳳 搬rn:::1精 し 肌in胤軋」
t∬ :二
benefit or value derived.

蹴脱r:cttittTttcЛ ttLcfI: Cost-Per-Hire: The costs linked to recruiting talent.

These costs can include advertising, agency fees,
glVelenthioniF:艦 C the 五ght tO scek relocation costs, and training costs.

助 Capacity building: (in relation to development

雌種響整縦墨s椰書
planning) The process of improving organizations,
human resources, and legal and regulatory
frameworks.

欄郵i鮮獣輔il.Ⅲ 総 Capacity: The amount a company or an economy

can produce using its current equipmeni,
workers, capital and other resources at full tilt.
Cap
Judging how close an economy is to operating at
full capacity is an important

驚聾i驚欝I∬ 鮮∬
ingredient of

搬 monetary policy, for if there is not enough spare

capacity to absorb an increase in demand, prices
are likely to rise instead. Measuring an
Contingent staff:Tcmporary staff that supplclncnts economy's output gap - how far current output is.
above or below what it would be at full capacity_'
a奮
ii柵 :ぶ :ギ 器g謝∫
児鵬∫ 忠理
havc nuctuating seasonal staff dcmands or are in
is difficult, if not impossible, which is why even
the best-intentioned central bank can struggle to

:憩 腱器 :翼 ∫
К
pК К血
・ V∝
:漁 翼
ltr
Contract fOr ser宙 ces: An agrcclnent with a self―
emp10yed person fOr a specificjob.
Contract 9f Service: Another te.11l fOr employlnent
agreement.
Conversion Ratё : A cOnversiOn ratc is dcfined as
the`relationship between visitOrs tO a wcb sitc
and actiOns cOnsidered tO be a`cOnversiOn',such
as a sale or requcst tO receivc lnore infollllation.
A 2006 study by web sidc stOry shOwed the
fo1lowing convOrsiOh stats for these mttOr scarch
c■ gines:AOL Laffic 6.17%,MSN traffic 6.03%,
Yahoo traffic 4.o7%and Googie traffic 3.83%.
keep down inflation. When there is too much
spare capacity, however, the result can be
deflation, as firms and employees cut their prices
and wage demands to compete for whatever
demand there may be.
Capital adequacy ratio: The ratio of a banks CaI
capital's to its total assets required by regulators
to be above a minimum (,.adequate',) level so
that there is little RISK of the bank going bust.
How high this minimum level is -may vary Cal
according to how risky a bank's activities are.
Capital asset pricing model: A method of valuing
assets and calculating the cost of capital (for an
alternative. The capital asset pricing model
(CAPIO has come to dominate modern finance.

滞 電 [照∬腑を
:‖ 譜 臨譲 F糀 Capital controls: govemment-imposed restrictions
on the ability of capital to move in or out of a
t轟
乳
「 ∬L樹 1:躍 ⑩ ¶魔 ぶ 鷺麓 country. Examples include limits on foreign
investment in a country's financial markets, on
r CVen hgheぅ
Mal:よ l選隠.mnge direct investment by foreigners in businesses or
property, and on domestic residents' investments
Ca

Core competencies:The particular set of strcngths, abroad. Until the 20th century capital controls
cxpeHencc, knowledge and abilities that were unco[unon, but many countries then
differentiate a cOmpany from its cOmpctitOrs and imposed them. Following the end of the second
provide cOmpetitive advantage. EInployeё s world war only Switzerland, Canada and the
United States adopted open capital regimes.
 161
C)ther Hch countries rrnintained strict controls
and many made theln tougher du五 ,g thC 1960s
and 1970s.This changё d in the 1980s and early
1990s,whcn most developco count五 es scrapped
their capital co,trols..
Capital■ight:Vゐ en capital flows rapidly out of a
country, usually beca,Se solnething happens
which causes investors suddenly to lose
confidencc in its cconomy.(Strictly speaking,
the probleln is not so much the rnoney lcaving,
but rathcr that investorS in general suddenly
lowcr their valuation of all the assets of thc
country.)ThiS iS particularly worying whcn the
flight capital bclongsl to thC COuntry's own
citizcns.This is often ass∝ iated with a sharp fall
ln the exchange rates of the abandoncd country's
currency.
Capital gains:The proit from the salc of a capital
asset,such as a share or a property.Capital gains
are suttcct tO taxation in most COuntrics.Somc
econorllllsts argue that lcapital g,ins ShOuld be
taxed lightly(if at all)comparcd with othcr
sources ofincolne.They argue thatthe less tax is
levied on capit1l gains, lhe greater is thc
incendve to put capital to productive use. Put
another way,capital gains tax is effcctively a tax
on capitalisln. However, if capital gains are
彦iVen t00 fricndly a treatmcnt by the tax
ヽautho五 dcs,accountants will no doubt invent an
s6rts of creative ways to disguisc othcr incolne
as capital gains.
Capital intensive: A production process that
involves comparatively large amounts of capital;
the oppositc of labor intensive.
Capital llllarkets:Markcts in secu五 des such as
bonds and shares. Govcmlnents and companles
use them to raisc longcr‐ tcll■ l capital from
investors, although few of ぬe 面 lLons of
capital― Inarket transactions every day inv01ve the
issucr of the secu五 ty. NIIost tradcs are in the
secondary IIlarkets,between investors who have
bought the secu五 ties and other invcstors who
wantto buy them.Contrast with money nlarkets,
where short‐ tellll capital is raised.
Capital strllcture:The COmposition of a company's
IIllXture Of debt and equity inancing. A fillll'3
debt― cquity ratio is oftcn rcferred to as its
gea五 ng. Taking on more debt is known as
gca五 ng up,or increasing lever age.In the 1960s,
Franco Modigliani and Merton Mllcr(1923-
2000)publiShed a seHes of articlcs arguing that
it did not matter whether a company financed its
activities by issuing debt, or equity, or a mixture
of the two. But, they said, this rule does nor
apply if one source of financing is treated more
favorably by the taxman than another. In the
United States, debt has long had tax advantages
over equity, so their theory implies rhat
American firms should finance themselves with
debt. Companies also finance themselves by
using the profit they retain after paying
dividends.
Capital: Money or assets put to economic use, the
life-blood of capitalism. Economists describe
capital as one of the four essential ingredients of
economic activity, the factors of production,
along with land, labor, and enterprise.
Production processes that use a lot of capital
relative to labour are capital intensive; those that
use comparatively little capital are labour
intensive. Capital takes different forms. A firm's
assets are known ag its capital, which may
include fixed capital (machinery, buildings, and
so on) and working capital (stocks of raw
materials and part-finished products, as well as
money, that are used up quickly in the
production process). Financial capital includes
money, bonds and shares. Human capital is the
economic wealth or potential contained in a
person, some of it endowed at birth, the rest the
product of training and education, if only in the
university of life. The invisible glue of
relationships and institutions that holds an
economy together is its social capital.
Capitalism: The winner, at least for now, of the
battle of economic 'isms'. Capitalism is a free-
market system built on private ownership, in
particular, the idea that owners of capital have
property rights that entitle them to eam a profit
as a reward for putting their capital at risk in
some form of economic activity. Opinion (arld
practice) differs considerably among capitalist
countries about what role the state should play in
the economy. But everyone agrees that, at the
very least, for capitalism to work the state must
be strong enough to guarantee property rights.
According to Karl marx, capitalism contains the
seeds of its own destruction, but so far this has
proved a more accurate description of Marx's
progeny, communism.
Cartel: An agreement among two or more firms in
the same industry to , co-operate in fixing
PRICES and"/or carving up the market and
restricting the amount of output they produce. It

is particularly corlmon when there is an
oligofly. Ihe aim of such collusion is to increase
profit by reducing competition. Identifying and
breaking up cartels is an important part of the
competition policy overseen by antitrust
watchdogs in most countries, although proving
the existence of a cartel is rarely easy, as firms
are usually not so careless as to put agreements
to collude on paper. The desire to form cartels is
strong. As Adam smith put it, 'People of the
same trade seldom meet together, even for
merriment and diversion, but the conversation
ends in a conspiracy against the public or in
some contrivance to raise prices.'
Catch-up effect: In any period, the economies of
, countries that start off poor generally grow faster
than the economies of countries that start off
rich. As a result, the national income of poor
countries usually catches up with the national
income of rich countries. New technology may
even allow developing countries to leap-frog
over industrialized countries with older
technology. This, at least, is the traditional
economic theory. In recent years, there has been
considerable debate about the extent and speed
of convergence in reality.
Cause-and-effect analysis: (in planning) A method
to help a group examine underlying explanations
(causes) for what they observe (effects).
Census: A complete canvass of a population.
Central bank A guardian of the monetary system.
A central bank sets short-term interest rates and
oversees the health of the financial system,
including by acting as lender of last resort to
commercial banks that get into financial
difficulties. The Federal Reserve, the central
bank of the United States, was founded in 1913.
The Bank of England, known affectionately as
the 'OId Lady of Thread needle Street', was
established in 1694,26 years after the creation of
the world's first central bank in Sweden. With
the birth of the EURO in 1999, the monetary
policy powers of the central banks of 11
European countries were transferred to a new
European central bank, based in Frankfurt.
Closed economy: An economy that does not take
part in intemational trade; the opposite of an
open economy. at the turn of the century about
the only notable example left of a closed
economy is North Korea.
162
Clustering: A statistical method of forming natural
groupings in which a number of important
characteristics of a large diverse group are
identified in order to define target markeh. For a
Iibrary such a cluster might include higher
education levels, and income. (Wood and
Koontz)
Community analysis: For a public library this is a
market research exercise reviewing library
statistics, population served characteristics, users
and other stakeholders in the library
'characteristics to better profile the library's
market area. (Wood and Koontz)
Collateral: An ASSET pledged by a borrower thar
may be seized by a lender to recover the value of
a loan if the borrower fails to meet the required
interest charges or repayments.
Collections are not, the library is differentiating the
video collection from the video store.
Command economy: When a government controls
all aspects of economic activity.
Commoditization: The process of becoming a
commodity. Microchips, for example, started out
as a specialized technical innovation, costing a
lot and eaming their makers a high profit on
each chip. Now chips are largely homogeneous:
the same chip can be used for many things. and
any manufacturer willing to invest in some fairly
standardized equipment can make them. As a
result, competition is fierce and prices and profit
margins are low. Some economists argue that in
today's economy the faster pace of innovation
will make the process of commoditization
increasingly corrrmon.
Communism: The enemy of capitalism and now
nearly extinct. Invented by Karl Marx, who
predicted that feudalism and capitalism would be
succeeded by the 'dictatorship of the proletariat',
during which the state would 'wither away' and
economic life would be organized to achieve
'from each according to his abilities, to each
according to his needs'. The Soviet Union was the
most prominent attempt to put communism into
practice and the result was conspicuous failure,
although some modern followers of Marx reckon
' that the Soviets rnissed the point.
- Community relations: The library's interactions
with the locality in which it operates, with
emphasis on disseminating library-related
irrformation to foster trust in the library or
information organization's activities.
 163
ral
Competition: The rivalry among sellers trying to services usually deter marketingtype exit
ant
achieve such goals as increasing profits, market interviews; 3) and little'research is conducted in
lre
share and sales volume by varying the elements this area due to lack of expertise.
ra
of the marketing mix: price, product, distribution
lCr Consumer surplus: The difference between what a
and promotion. The agency changes to better
nd consumer would be willing to pay for a good or
meet.consumer wants and needs. For a library
competition may be bookstores, community service and what that consumer actually has to
︼ Ｗ 明 町︻

events, video stores or even other libraries, oi pay. Added to produces surplus, it provides a
other agencies vying for pubtic funds. measure of the total economic benefit of a sale.

Complementary goods: When you buy a computer,
you will also need to buy software. Computer
hardware and software are therefore
complementary goods: two products, for which
rlat an increase (orfall) in demand for one leads to
Of an increase (fall) in demand for the other.
rcd Complements are the opposite of substitute
goods. For instance, Microsoft Windows_based
personal computers and Apple Macs are
the
substitutes.
Consensus: A feeling within a group that its
ols
conclusion representsl a fair summary of the
conclusions reached by the individual members
ａｔ
Consumer: The ultimate user of goods, ideas or
services. Also the buyer or decision maker, for
Contihgency planning: Developing plans to provide
altemative plans to the main plan.
Continuous improvement: To raise the
performance of an organization through a never-
ending process of choosing and adjusting
missions, goals, objectives, and action strategies.
Convenience product: Aconsumer good and/or
service (such as soap, candy bar, and shoe shine)
that is bought frequently, often on impulse, with
little time effort spent on the buying process. A

of the group. Each individual accepts the group's convenience product usually is low-priced and is
Э
ｕ押 ｏ

conclusion on the basis of logic and feasibility. widely available. For.a public library this type of
material might be newspapers or magazines, or
ｎ 隠ｄ ｌ

Consumer behavior: The behavior of the consumer perhaps a quick selection of other materials with
or decision maker in the market place of little browsing or research. These materials or
ｎ
︲ｒ

products and services. Library user behavior is services are usually located within facility for
in library htlrature under
ｙ ＝血 ｉ

often captured use easy and quick access.

, studies.
Convenience sample: A non probability sample of
Coniumer characteristics: The demographic, . individuals who just happen to be where the
ｌ︲
ｎｎｎ

lifestyle and personality characteristics of the study is being conducted when it is being
.
ｏｉ

consumer. For a library this would be the user. conducted. For example, a library. could
ｏ

Consumer conlidence: How good consumers feel interview people exiting the library asking,
about their economic prospects. Measures of 'Were you satisfied with the materials and
ｏ
ｗｈ

average consumer confidence can be a useful, services, if not why?'

ｏｂ
′ ﹂ｎ

though not infallible, indicators of how much

ｃ ｄ К油ｈ

Copyright: A copyright offers the owner of original

consumers are likely to spend. Combined with work that can be printed, recorded or ',fixed" in
measures such as business confidence, it can
︲

any manner the sole right to reproduce and

shed light on overall levels of economic activity. distribute the work, to display or perform it and
Consumer prices: What people are usually thinking to authorize other to do so., during the author's
ｔｔ
ｃ。Ｃ

of when they worry about inflation. The pricei lifetime and for fifty years thereafter.
ｎ︲

paid by whoever finally consumes goods or Core product: The central benefit or purpose for
ｒ
，御  剛ｈ

services, as opposed to prices paid by firms at which a consumer buys a product or service. The
various stages of the production process. core product varies from purchaser to purchaser.
Consumer satisfaction: The degree to which a For a library user the core benefit of checking
consumer's expectations are fulfilled or out a book, may be for one user that there is no
ｉ
ｔ
′ｔ

surpassed by a product. User satisfaction with charge, and to another the availability of a work
ｄｅｏ

library services and materials is often difficult to which can no longer be purchased.
ｒ

determine because: 1) there is no clear ring of Correlation analysis: A statistical technique used to
the cash register at rhe end of the day; 2) privacy measure the closeness of the linear relationship
ibsues concerning use of library materials and between two or more interval scaled variables. For
 164

example public library use has a close linear CreditOr: A lender, whcther by making a loan, .Datab
relationship with people
of higher education and buying a bond or a110wing money Owed nOw tO an
income. be paid in the futurc. de
Cost of capital: The amount a firm must pay the an
CHtical path methOd: (in planning and
owners of capital for the privilege of using it. lib
prograIImng)A method ofscheduling to shOw a
This includes interest payments on corporate ca.
logical and efficient Order of activities and
debt, as well as the dividends generated for sol
events,
shareholders. In'deciding whether to proceed mi
with a project, FIRMS should calculate whether Crony capitalism:An aplrOach to business based
Deadv
the project is likely to generate sufficient on looking after yourself by looking Out for y9ur
OD,
revenue to cover all the costs incurred, including own.At least until the c五 sis Of thc late 1990s,
re(
the cost of capital. Calculating the cost of equity some Asian companies, and evcn govemments,
inc
capital can be tricky. were notable for aWarding contracts only to
pa
family and fdends.This was often a folll1 0f
Cost-benefit analysis: A method of reaching comption,resulting in econoIIllc inefficiency.
WC

be
economic decisions by comparing the costs of
Cross Training:CrOss training is training someOnc sul
doing something with its benefits. It sounds
in anothcr activity that is related tO thcir curent ins
simple and common-sensical, but, in practice, it
work. The nalne comes fronl the fact that yOu pe(
can easily become complicated and is much are tralning thcm acrOss a broadcr spcctrum of an.
abused. With careful selection of the the organizatiOnts wOrk.
assumptions used in cost-benefit analysis it can Decenr
be made to support, or oppose, almost anything. Crowding out:when the state docs s6mething it of
may discOurage, Or crowd out, p五 vatc― sector ne)
This is particularly so when the decision being
attcmpts tO dO thc salnc thing.At limQs, 19!
con templated involves some cost or benefit for
cxcessive gOvemment borrowiig has been wh
whieh there is no market pRICE or which, blamed fOr low pnvate― sector bOrrowing and, des
because of an externality, is not fully reflected in consequently,10w investttnt and oeCausc the cer
the market price. Typical examples would be a cconorrllc rctums On public borrowing are libr
project to build a hydroelectric dam in an area of typically 10wer than thosc on p五 vatし dcbt,
Decent
outstanding natural beauty or a law to require especillly COrporate debt)s10Wer ecOnoIIllc
ma
factories to limit emissions of gases that may growth: This has becolne less of a concern in
go'
cause ill-health. rccent ycars as gOvemment indcbtedness has
go'
declined and, bccause of globalizatiOn, ■1 11ls
Credit: A loan extended or (sometimes) taken by,
have becolne morc able to raisc CAPrrAL Decisio
for example, delayed payment of an invoice.
outside their holne 9oun,y.9rOWding Out may SYS

Credit creation: Making loans. Often the amount of also colne from state spending on things that col
credit creation is subject to regulation. Icnders mght be providedl lnorc cfficLntly by thc sof
may have limits on the amount of loans they can p五 vate seё tor, such as he,lth care, or even gat
make relative to the assets they have, so that through cha五 ty,redistribution: bus
they run little risk of bankruptcy. A central bank bas
Culture: The set of lё amed valucs, norlns, and
tries to keep the amount of credit creation below difl
behaviors that are sharcd by a socicty and arc
the level at which it would increase the money
designed tO increaSё the prObability of the
int
supply so much that inflation accelerates. This anc
socicty's survival. Thesc include shared
was never easy to get right even when most
superstitions, mythl, folkways, InOres `and ull
Iending was by BANKS, but it has become much
behavior pattems that arC rewarded or punishea.・ a8r
harder with the recent growth of non-bank
lending, such as by credit-card companies and
For libranes, the understanding pf differcit l 'ifl
culturcs,as new iIIlmgrant groups FnOVe intO the l pay
retailers. Missing text
markct arca is extreFnely impo■ ant tO takc into l the
Credit crunch: When banks suddenly stop lending, considcration,in 6rdcr tO pro宙 dc the needcd l def
or bond market liquidity evaporates, usually mate五 als and services. ￨ rat€

Ψ剖
because creditors have becomJ extrcmely risi< loar

壕 袢 驚[鸞響
averse. SOn
oft
 165

A compendium of information on current Deficit: In the red - wheh more rnoney goes out than
１， ０

Database
and prospective users that usually includes
demographic data as well as use data, volume
and content. This is a privacy issue in American
ｄ
comes in. A budget deficit occurs when public
spending exceeds. government revenue. A
current account deficit occurs when exports and

libraries. The address data of library users Chn be inflows from private and official tranSfer are
ａ ｄ

脚ｂ
called "point-of-sale (use) data and is a rich worth less than imports and transfer'outflows.
source of marketing data for library

ｃ
ｎ呼
ｃ
Defined Benefit Plap: A retircment plan that
management. participants a liimp-sum arhriunt that has
,d
Deadweight cosUloss: The extent to which the value calculated using formulas that can include
r and impact of a tax, tax relief or SUBSIDY is earnings and length of service.
s, reduced because of its side-effects. For instance, Defined Contribution: A pension plan that clearly
S,
increasing the amount of tax levied on workers' defines the amount of contributions, which is
:o pay will lead some workers to stop working or usually a percentage of an employee's salary'
rf work less, so reducing the amount of extra tax to The benefits payable at retirement depend on
be collected. However, cieating a tax relief or several factors including future investment
to to buy life
ｌ
ｅ ｔ

subsidy encourage people return and annuity rate at retirement.

ｎ 週 ｏ

insurance would have a deadweight cost because

. people who would have bought insurance Deregulation: The removal or revision of laws that
ｆ

) anyway would benefit. ,

regulate the supply of goods and services.

Decennial census kr the U.S. this is a complete count Direct Marketing: Direct marketing is a sales
ｔ

method by which advertisers approach buyers

ｉ ｏ

of the population every ten years. For example the

directly with products or services. The most
ｒ ｓ， コ ｄ，に ｅ ｔ，配 ｎ ｓ

next count is the year 2000, and previous years

cortmon forms of direct marketing are telephone
，

1990, 1908, etc. There is also a sample census

which is taken for hundreds of other population
descriptive characteristics. For ttre library field
census data are identified that srongly indicate
ｒ Ｄ
sales, emails and print (e.g., catalogs,
brochures). Successful direct marketing also
involves renting or compiling / maintaining a
database of qualified buyers. According to the

library use through research.

Direct Marketing Association, average response
Decentralization: The distribution of decision rates for print direct mail (flat mail) are 2.73Vo),
rdaking and operations to lower levels of catalogs are 2.45Vo and E-mail is l.l27o'
ｉ ａ ｎＬ ａ ａ

, government (and sometimes to non-

Hrmarketer.com research shows emails that offer
I governmentalorganizations).
a compelling "of[er" in the form of a free
ｓ

Decision support'system (DSS) A decision support downloadable white paper or research report (on
a topic that resonates with your buyer) are
ｙ ｔ ｅ ｎ

system (marketing definition) is a systematic

significantly more likely to generate a response
ｌｈ ｅ

collection of data, techniques and supporting

software and hardware by which an organization than promotional offers' In allindustnes,
gathers and interprets relevant information from marketers are shifting their spending from brand
, business and the environment and turns it into a building tactics like print advertising to direct
ｄ

response-oriented promotional channels such as

ｎКｈ

, basis for making management decisions. A DSS

differs from a management information system direct marketing and interactive marketing
(online advertising). The hrmarketer.com
ｅｄ

in that it is designed to answer precise questions

research report Trends in I{R Marketing
ｉｎ銀前雌面回   ｈｄ
ｃ

and what/if questions.

ｄ

(http //www.hrmarketer.com/tr ome/whitepaper-m

:

befault:Failure to fulill thc terlns of a loan
. agreement. For example, a borrower is in default
if he or she does not make scheduled interest
payments on a loan or fails to pay off the loan at
the agreed time. Judging the likelihood of
default is a crucial part of pricing a loan. Interest
rates are set so that, on average , a portfolio of
ｔ
ain2.htm) verifies this trend in the HR
marketplace
Disability: The inability to perform all or part of
one's occupational duties because of an accident
or illness. This can be due to a sickness, injury
or mental condition and does not necessarily
have to have been caused by the joti itself.

loans will be profitable to the creditor , even if

ａ

some individual loans are loss-making as a result Disability Income Insurance: Health insurance that
of borrowers defaulting. is paid to a policyholder who experiences a loss
of income due to an injury or an illness'
 166

ｃ
︲ｍ ａ
ｅ
Disability insurance plans pay a portion of the A graph showing the relati

ｂｈ
Demand curve:

︲ａ
salary of a disabled worker until his/her between the price of a good and the amount

︲ｗｄ ｎ
retirement age. demand for it at different prices.

ｏ ｉ 狐憫 μｗｎ
Disciplinary procedure: A standardized process Demand The number of units of a product sold

that an organization commits to when dealing
with an employee who has breached the terms of
employment in some way. If this procedure is
not standardized and fair, the organization may
ｃ
market over a period of time.
Demarketing The process of reducing the
for a product--or decreasing consumption.

ａ︲
face discrimination or other legal charges. Deming Cycle The Deming Cycle is a set

ｏｔ
Discrimination: The favoring of one'group of activities (Plan, Do, Check, Act) designed

。ｍ能ｂ
people, resulting in unfair treatment of other drive continuous improvement. Initi
groups. implemented in manufacturing, it has
applicability in business. First developed

ｅ
︲
Disease Management: An information-based Walter Shewhart, it is more commonly called
process involving the continuous improvement of
Deming cycle in Japan where it was populari
care (prevention, treatment and management) by Edwards Deming.
throughout the delivery of health care. Effective fro
disease management can mean decreased health Demographics Objective characteristics a
care costs. consumers such as age, income, education, pol
or occupation (Assael.) For public libraries re8
Distance Learning: Educational programs using
the US, most relevant demographics for
instruction via video or audio tapes, computers
education and age. be
etc. Instead of attending a class in one
Deposit insurance: Protection for your savings, Ec
centralized location.
case your bank goes Bust. Arrangements rhi
Distributive bargaining: Anegotiation between. around the world, but in most countries ris
competing parties that involves the distribution co
insurance is required by the government
of resources. One party prevails, to the detriment paid for by banks (and, ultimately, let
of the other. customers), which contribute a small slice ha
Dual Labor Markets: a situation in an organization their assets to a central, usually government- wi
where a smaller Core Labor Force and a insurance fund. If a bank defaults, this un
Peripheral Labor Force co-exist. guarantees its customers' deposits, at least up
a By

ｍ．
︲ ︲
certain amount. reassuring ba
Due diligence: In mergers and acquisitions, the

process of carefully investigating the details of
an investment or purchase to assess risk and
potential value and reward.
ｗｄ
customers that their cash is protected,
insurance aims to prevent them fiom panicki
and causing a bank run, and thereby red
systematic risk. The United States i

山 毀 ｈ
Delegation: The transfer of planning and in 1933, after a massive bank panic led
management functions to organizations which widespread 'bankruptcy, deepening

ｉ
︲ ｃ
are funded by a central government, but which depression.

ｇ
do not come under its operational control.
Depreciation: A fall in the value of an asset ot
Delivery system: (in management science) currency; the opposite of appreciation.
Organizational arrangements to provide program Depression: A bad, depressingly 側ｄ
ｃ ｍＡ 謬 К 平ｈ ｏ
services to the interest groups (activities, recession in economic activity. The te
information, materials, physical outputs, etc.). definition of a recession is two
Delphi technique - A frequently used method in quarters of declining output. A slump is
futures research to gain consensus opinion output falls by at least lOVo; a depression is
'among experts about likely future events, even deeper and more prolonged slump.
ｔ

through a series of questionnaires.

Deregulation: Cutting red tape. The process
ｒｈ

Delphi: (in forecasting the future) A method of removing legal or quasi-legal restrictions on
ｉ

obtaining forecasts from a panel of experts. amount of competition, the sorts of

done, or the prices charged within a part
industry. During the'last two decades of the
 165

Database A compendium of information on current Deficit: In the red - wheh rnore rnoney goes out than
t,
and prospective users that usually includes comes in. A budget deficit occurs when public
.o
' demographic data as well as use data, volume spending exceeds. government revenue. A
and content. This is a privacy issue in American current account deficit occurs when exports and
d
' libraries. The address data of library users cbn be inflows from private and official transfer are
a called "point-of-sale (use) data and is a rich worth less than imports .and transfer'outfl ows'
rd source of marketing data for library Defined Benefit. Plap: A retirement plan that pays
management. participants a liimp-sum arhount that has been
だ ｒ

Deadweight cost/loss: The extent to which the value ialculated using formulas that can include age,
ｌ ｓ

and impact of a tax, tax relief or SUBSIDY is earnings and length of service.
，ｓ

reduced because of its side-effects. For instance, Defined Contribution: A pension plan that clearly
，ｔ

increasing the amount of tax levied on workers' defines the amount of contributions, which is
ｏｆ

pay will lead some workers to stop working or usually a percentage of an employee's salary'
ｏ

work less, so reducing the amount of extra tax to The benefits payable at retirement depend on
be collected. However, cr'eating a tax relief or several factors including future investment
to buy life
ｌ
ｃｔ

subsidy to encourage people retum and annuity rate at retirement.

ｎ Ⅲ ｏ

insurance would have a deadweight cost because

,. people who would have bought insurance Deregulation: The removal or revision of laws that
ｆ

r anyway would benefit. regulate the supply of goods and services.

Decennial census kr the U.S. this is a complete count
ir of the population every ten years. For example the
or next count is the year 2000, and previous years
)s, 1990, 1908, etc. There is also a sample census
en which is taken for hundreds of other population
Direct Marketing: Direct marketing is a sales
method by which advertisers approach buyers
directly with products or services' The most
corlmon forms of direct marketing are telephone
sales, emails and print (e.g., catalogs,

rd, descriptive characteristics. For ttre library field brochures). Successful direct marketing also
he census data are identified that srongly indicate involves renting or compiling / maintaining a
rre library use through research. database of qualified buyers. According to the
Direct Marketing Association, average response
bt, Decentralization: The distribution of decision rates for print direct mail (flat mail) ate 2.73Vo),
uc ' ntaking and operations to lower levels of catalogs are 2.45Vo and E-mail is l.l27o'
in goveinment (and sometimes to non- Hrmarketer.com research shows emails that offer
ras
TIS
governmental organizations).
a compelling "offer" in the form of a free
\L Decision support'system (DSS) A decision support downloadable white paper or research report (on
.ay system (marketing definition) is a systematic a topic that resonates with your buyer) are
rat collection of data, techniques and supporting significantly more likely to generate a response
.he software and hardware by which an organization than promotional offers. In allindustries,
'en gathers and interprets relevant information from marketers are shifting their spending from brand
business and the environment and tums it into a building tactics like print advertising to direct
ｄ
ｎ
ｔａ

basis for making management decisions. A DSS response-oriented promotional channels such as
ｒ
ｃｈｄ

differs from a management information system direct marketing and interactive marketing
in that it is designed'to answer precise questions (online advertising). The hrmarketer.com
in IIR
ｒ
ｅｄ

and what/if questions. research report Trends Marketing

︲
ｎｄ

(http ://www.hrmarketer.com/home/wh itepaper-m

: Failure to fulfill the terms of a loan
ｅ

ain2.htm) verifies this trend in the HR

．ｔ

agreement. For example, a borrower is in default

ｅ
ｎれｔ

marketplace
if he or she does not make scheduled interest
payments on a loan or fails to pay off the loan at Disability: The inability to perform all or part of
ｎ畑  ｈ
。

the agreed time. Judging the likelihood of one's occupational duties because of an accident
' default is a crucial part of pricing a loan. Interest or illness. This can be due to a sickness, injury
rates are set so that, on average , a portfolio of or mental condition and does not necessarily
ｔ
ａ耐
︰

￨
loans will be profitable to the creditor , even if have to have been caused by the jo6 itself.
some individual loans are loss-making as a result
of borrowers defaulting.
Disability Income Insurance: Health insurance that
is paid to a policyholder who experiences a loss
of income due to an injury or an illness.
 166

ｃ飩 ﹄ ｈ ｏｄ ｉ
ｃ
︲
Disability insurance plans pay a portion of the Demand curve: A graph showing the
salary of a disabled worker until hisftrer between the price of a good and the amount

ａ
︲ｗ
retirement age. demand for it at different prices.
Disciplinary procedure: A standardized process Demand The number of units of a product sold i
that an organization commits to when dealing

ｎ 諷鯛 μ ｗ
ｃ
market over a period of time.
with an employee who has breached the terms of
employment in some way. If this procedure is Demarketing The process of reducing the de
not standardized and fair, the organization may for a product--or decreasing consumption.

ａ︲
face discrimination or other legal charges. Deming Cycle The Deming Cycle is a set

ｎｔ
ｏ ｏ ｍ 能 ｅ．
Discrimination: The favoring of one'group of activities (Plan, Do, Check, Act) designed
people, resulting in unfair treatment of other drive continuous improvement. Initi
groups. implemented in manufacturing, it has
applicability in business. First developed
An

ｂ
Disease Management: information-based Walter Shewhart, it is more commonly called
process involving the continuous improvement of
Derrung cycle in Japan where it was populari
care (prevention, treatment and management) by Edwards Deming.
throughout the delivery of health care. Effective fro
disease management can mean decreased health Demographics Objective characteristics a
care costs. consumers such as age, income, education, pol
or occupation (Assael.) For public libraries re8
Distance Learning: Educational programs using
the US, most relevant demographics for
instruction via video or audio tapes, computers
education and age. be
etc. Instead of attending a class in one
Deposit insurance: Protection for your savings, Ec
centralized location.
case your bank goes Bust. Arrangements rhi
Distributive bargaining: A negotiation between. around the world, but in most countries ris
competing pafties that involves the distribution insurance is required by the government co
of resources. One party prevails, to the detriment paid for by banks (and, ultimately, let
of the other. customers), which contribute a small slice ha
Dual Labor Markets: a situation in an organization their assets to a central, usually government wi
where a smaller Core Labor Force and a insurance fund. If a bank defaults, this un
Peripheral Labor Force co-exist. guarantees its customers' deposits, at least up

ｍ．
a certain amount. By reassuring
Due diligence: In mergers and acquisitions, the

process of carefully investigating the details of
an investment or purchase to assess risk and
potential value and reward.
ｗ“
︲
customers that their cash is protected,
insurance aims to prevent them from panicki
and causing a bank run, and thereby
systematic risk. The United States introd

山 一
Delegation: The transfer of planning and in 1933, after a massive bank panic led

凛ｈ
management functions to organizations which widespread bankruptcy, deepening

ｉ
︲ ｃ
are funded by a central government, but which depression.
.

ｇ
do not come under its operational control. Depreciation: A fall in the value of an asset ot
Delivery system: (in management science) currency; the opposite of appreciation.
Organizational arrangements to provide program A bad, depressingly 側ｄ
Depression: Pro ｃ ｕＡ Ｓ К ｒ
services to the interest groups (activities, ineconomic activity. The
ｃ

recession
information, materials, physical outputs, etc.). definition of a recession is two
Delphi technique - A frequently used method in quarters of declining output. A slump is
futures research to gain consensus opinion output falls by at least IOVo; a depression is
even deeper and more prolonged slump.
ｓ ぬ ｏ． ｈ

'among experts about likely future events,

through a series of questionnaires. Deregulation: Cutting 'red tape. The process
Delphi: (in forecasting the future) A method of removing legal or quasi-legal restrictions on
ｉ

obtaining forecasts from a panel of experts. amount of competition, the sorts of busi
done, or the prices charged within a
industry. During the'last two decades of the
 167

.ry, many govemments committed to the
market pursued policies of liberalization
of dercgulation
6i sttsttttial lmOuntζ
L-hand with the privatization of industries
by the state. The aim was to decrease, the
in the economy and to
o{ government
me conrpetition. Even so, red tape is
alive
wgll.In the United StatoS,With solne 60
ral agencies issuing more than 1,800 rules a
, in lgq8 the Code of Federal Regulations
more than 130,000 pages thick' However'
all regulation is necessarily bad' Ac-cording^
bstirnites by the American Office of
anこ Budget,the annud cost O:
hies was$289 LilliOn,but the lnnual
wcrc$298 billion.
Financial assets that, 'derive' their value
other assets. For example, an option to buy
五
Tヽ arc tt de五 Ved from tte share.SOT?
icians and others responsible for financial
Developing countries: A euphemism for the world's
poor countries, also. known, often optimistically,
as emerging economies' Some four-fifths of the
world's 6 billion people already live in
' developing countries, many of them in abject
poverty. Developing countries account for less
than one-fifth of total world GDP.
Developing country Characteristics: 1) more than
33Vo of the population is engaged in agriculture,
less than 3O7o of population is urbanl 2) at least
5OVo of population is literate; and 3) highly
developed industrial sectors and consumer
markets of significant per capita size'
Development economics: Spawned'by the end of
the colonial era in the 1950s and 1960s, a whole
branch of economic theory grew up around the
question of how to promote economic
development in poor countries' The proposition
on which development economics was built was
that poor countries were intrinsically different

蹴
艦量sI翼 疑
質Fttl挙 賞 F
from rich ones and so needed their own set of
economic models. Some development

撫』 sf躙 1翼 g鰐 監
economists argued, for instance, that the self-
Vln
vttvtta蜀 interested, rational individual did not exist in
nts
〕 allowing
,thing, more precise pricin-g of financial traditional tribal societies.'They claimed that
S
,risk-and bettei risk management' However' they because many poor countries had large
nent ,''concede that when derivatives are misused
the
agricultlrral populations and were often
them can
ly, 'leverage that is often an integral part of dipendent on a few commodity exports for
'have devastating consequences' So they come foieign exchange earnings, economic policies
Sl
nent― with an economists'health warning: if you don't
that iuited rich countries would not work for
his uriderstand it, don't use it' them. With hindsight, much of this was
ast ve research A research design in which the
misguided, and policies based on it had
major emphasis is on determining the frequency
disastrous effects. Development economists
believed that the state had to play a big role in
wiitr wtrictr something occurs. For example, how
fostering modernization. Instead, the result was
often users access the Internet in a given month'
huge, inefficient bureaucracies riddled with
merchandise A tYPe of merchandise comrption, massive budget deficits and rampant
that motivates or triggers a trip to a specific inflation. During the 1990s, most governments
store. A library's.special collection on African of developing countries started to reverse these
history is an example. This is also a 'specialty policies and undo the damage they had done by
good. introducing policies based on similar economic
models to those that had worked in rich
A sudden fall in the value of a
countries. However, the sequencing of these new
currency against other currencies' Strictly, policies seemed to make a big difference to how
tex deduaiion refers only to sharp falls in a well they worked. Doing the right things in the
rsecuti currency within a fixed exchange rate system' right order is crucial'
iS
Also ii usually refers to a deliberate act of
on ls govemment policy, although in recent years Diffusion model A model representing the contagion
ieluctant devaluers have blamed financial or spread of something through a population'
螺ｓ

speculation. Most studies of devaluation suggest (Examples: spread of air conditioning in Florida
ｏ
ｎ

that its beneficial effects on competitiveness are and subsequent population growth, and spread of
ｂ
ｉｕ
ｓ
ｒ

only temporary; over time they are eroded by Library of Congress pre-printed cards to
higher PRICES (see J-CURVE). American libraries.) Mathematical formulations
are available to predict spread/growth'
thc
 168
Diffusion of innovation The spread of innovation
with a market group in stages--innovators (2-
57o), early adopters (I}-lSVo), early majority
(next 35Vo), late majority(next 35Vo), and
laggards (final S-lOVo,) Fair amount , of
disagreement about the percentages.
Diminishing returns: The more you have, the
smaller is the extra benefit you get from having
even more; also known as diseconomies of scale.
For instance, when workers have a lot of capital
giving them a little more may not increase their
productivity anywhere near as much as would
giving the same amount to workers who
currently have little or no capital. This underpins
the catch up effect, whereby there is
(supposedly) convergence between the rates of
growth of developing countries and developed
ones. In the new economy, some economists
argue, capital may not suffer from diminishing
returns, or at least the amount of diminishing
will be much smaller. There may even be ever
increasing returns.
Direct marketing: Malketing efforts, in total
directed toward a specific targeted group-direct
selling direct mail, catalog or cable-for
soliciting a response from customer. A library
may mail a library registration card to every new
mother in the hospital.
Direct taxation: Taxes levied on the income or
wealth of an individual or company. Contrast
within direct TAXATION. In much of the world,
direct tax rates fell during the 1980s and 1990s,
partly because some economists argued that high
rates of tax on income discouraged people from
working, and.that high rates of tax on profit
encouraged companies to move to countries with
lower rates. Furthermore, high rates of income
tax were viewed as politically unpopular. Even
so, although rates were cut, because both
personal income and corporate profits grew
steadily throughout this period the total amount
collected via direct taxation continued to rise.
Fronomists often disagree about which of direct
taxes or indirect taxes are the least inefficient
method of taxation.
Directional and departmental signage A signage
system that helps guide the library user through
the library and locate specific 'departments of
interest.
Discount rate: The rate of interest charged by a
central bank when lending to other financial
institutions. It also refers to a rate of in
used when calculating discounted cash flow.
Discounted Cash Flow Discounted cash flow is
sophisticated technique used by
financi
analysts. Despite its complexity, discounted
flow analysis is based on a simple idea -
cash today is worth more than cash promised
the future.
Discounted cash flow: How much less is a sum
money due in the future worth today?
answer is found by discounting the future
flow, using an interest rate that reflects the
that money in future is worth less than
now, because money now could be invested
eam interest, whereas future money
Firms use discounted cash flow to judge
an investment project is worthwhile. The in
rate is a means of reflecting the opportunity
of tying up money in the investment project. Ti
test whether an investment makes
sense the income must be discounted so that
can be measured against the costs. If the
value of the benefits exceeds the'costs,
investment is a good one.
Disequilibriirm: When supply and demand in
market dre -not in balance. Contrast wi
equilibrium.
Disinflation: A fan in thc ratc of inflation.
means a slower increase in prices but not a
in prices, which is known as deflation.
Disintermediation: Cutting out the middle
Disintermediation has become a buzz word
financial services in particular, as
and technological changes have done away wi
the need for established intermediaries. Ba
have seen much of their business slip away,
as lending to companies that now tap capi
market direct. New economy theorists a
that many retailers would be dis-intermedi
as the intemet enabled customers to tra
directly with producers without needing to visit
shop. But this has happened more slowly
they predicted.
Display A special exhibit of a product or service
the point of sale, generally over and
standard shelf stocking. Simply books place
display over specific subject areas.
Distribution The marketing and carrying of I
to customers (bookmobiles, facilities,
loan.)
 167

Developing countries: A euphemism for the world's

ury, many governments committed to the
poor countries, also..known, often optimistically,
一η ｄ
ｔ
ａ ｍ

market pursued policies of liberalization

ｉ

ｈ
ｏ
ｎ
ｓ

as emerging economies' Some four-fifths of the

ごЪ
ｔ
ｏ
ｕ
ｎ

I su6stantial lmounts Of dereguladon

.hand with the privatization of industries
the
d by the state. The aim was to decrease,
in the economy
of government 3nd..to
,ase Jonrpetition. Even so, red tape is alive
well. In-the United States, with some 60
,ral agencies issuing more than 1,800 rules a
-1998
', in the Code of Federal Regulations
more than 130,000 pages thick' However'
all regulation is necessarily bad' According
estimites by the American Office of
ana Budget,the annual cost Of
rules was $289 billion, but the annual
its werc S298 billion.
Financial asSetS that lde五 Vei their valuc
hm other assets' For example, an option to buy
world's 6 billion people already live in
' developing countries, many of them in abject
poverty. Developing countries account for less
than one-fifth of total world GDP'
Developing country Characteristics: 1) more than
33% of the population is engaged in agriculture,
less than 3O7o of population is urbanl 2) at least
5O7o of population is literate; and 3) highly
developed industrial sectors and consumer
markets of significant per capita size'
Development economics: Spawned'by the end of
the colonial era in the 1950s and 1960s, a whole
branch of economic theory $ew up around the
' question of how to promote economic
development in poor countries. The proposition

楡鑑∴niCtts器 品cStthn濶
of
igulation blame the growing use derivatives
on which development economics w-as built was
that poor countries were intrinsically different
from rich ones and so needed their own set of
il increasirg volatility in asset prices, and for economic models. Some development

Vl 認L￡ sf喩 1翼 g紺 瓢ャ
鳥v::1:aT晏
economists argued, for instance, that the self-
interested, rational individual did not exist in
nts
〕
S l薫 需tttf翼Ⅷ 鴨鋭
堪潔∬ 甘l写 traditional tribal societies.'They claimed that
because many poor countries had large
ncnt 'concede that when derivatives are misused
the
agricultural populations and were often
can
ly, leverage that is often an integral Plrt of them
dipendent on a few commodity exports for
Sh have levastating consequences' So they come foreign exchange earnings, economic policies
hent with an economists' health warning: if you don't that suited rich countries would not work for
his understand it, don't use it. them. With hindsight' much of this was
ast ve research A research design in which the
misguided, and policies based on it had
disastrous effects. Development economists
major emphasis is on detprmining the frequency
believed that the state had to play a big role in
' VV17ν wiifr wnlctr something occurs. For example, how
fostering modernization. Instead, the result was
)anlcki
often users access the Intemet in a given month'
huge, inefficient bureaucracies riddled with
rduced merchandise A tYPe of merchandise comrption, massive budget deficits and rampant
: led that motivates or triggers a trip to a specific inflation. During the 1990s, most governments
rg store. A library's special collection on African of developing countries started to reverse these
history is an example. This is also a 'specialty policies and undo the damage they had done by
good. introducing policies based on similar economic
sset Or
models to those that had worked in rich
:A sudden fall in the value of a
countries. However, the sequencing of these new
currency against other currencies' Strictly' policies seemed to make a big difference to how
devqluation refers only to sharp falls in a well they worked. Doing the right things in the
currency within a fixed exchange rate system' right order is crucial'
Also ii usually refers to a deliberate act of
governinent policy, although in recent years Diffusion model A model representing the contagion
ieluctant devaluers have blamed financial or spread of something through a population'
speculation. Most studies of devaluation suggest (Examples: spread of air conditioning in Florida
)cess that its beneficial effects on competitiveness are and subsequent population growth, and spread of
iS On only temporary; over time they are eroded by Library of Congress pre-printed cards to
bu higher PRICES (see J-CURVE). American libraries.) Mathematical formulations
artl are available to predict spread/growth'
the
 168
Diffusion of innovation The spread of innovation
with a market group in stages--innovators (2-
5Vo), early adopters (lo-l1%o), early majority
(next 35Vo), late majority(next 35Vo), and
laggards (final S-lOVo.) Fair amount, of
disagreement about the percentages.
Diminishing returns: The more you have, the
smaller is the extra benefit you get from having
even more; also known as diseconomies of scale.
For instance, when workers have a lot of capital
giving them a little more may not increase their
productivity anywhere near as much as would
giving the same amount to workers who
currently have little or no capital. This underpins
the catch up effect, whereby there is
(supposedly) convergence between the rates of
growth of developing countries and developed
ones. In the new economy, some economists
argue, capital may not suffer from diminishing
retums, or at least the amount of diminishing
will be much smaller. There may even be ever
increasing retums.
Direct marketing: Marketing efforts, in total
directed toward a specific targeted group-direct
selling direct mail, catalog or cable*for
soliciting a response from customer. A library
may mail a library registration card to every new
mother in the hospital.
Direct taxation: Taxes levied on the income or
wealth of an individual or company. Contrast
within direct TAXATION. In much of the world,
direct tax rates fell during the 1980s and 1990s,
partly because some economists argued that high
rates of tax on income discouraged people from
working, and that high rates of tax on profit
encouraged companies to move to countries with
lower rates. Furthermore, high rates of income
tax were viewed as politically unpopular. Even
so, although rates were cut, because both
personal income and corporate profits grew
steadily throughout this period the total amount
collected via direct taxation continued to rise.
Economists often disagree about which of direct
taxes or indirect taxes are the least inefficient
method of taxation.
Directional and departmental signage A signage
system that helps guide the library user through
the library and locate specific .departments of
interest.
Discount rate: The rate of interest charged by a
central bank when lending to other financial
institutions. It also refers to a rate of
used when calculating discounted cash flow.
Discounted Cash Flow Discounted cash flow is
sophisticated technique used by fi
analysts. Despite its complexity, discounted
flow analysis is based on a simple idea -
cash today is worth more than cash promised
the future.
Discounted cash flow: How much less is a sum
money due in the future worth today?
answer is found by discounting the future
flow, using an interest rate that reflects the
that money in future is worth less than
now, because money now could be invested
earn interest, whereas future money can
Firms use discounted cash flow to judge whe
an investment project is worthwhile. The i
rate is a means of reflecting the opportunity
of tying up money in the investment project. T
test whether an investment makes
sense the income must be discounted so that
'ian If
be measured against the costs. the prese
value of the benefits exceeds the costs,
investment is a good one.
Diseqrtili[pium: When supply and demand in
market are .not in balance. Contrast w
equilibrium.
Disinflation: A fan in thc ratc of inflation.
means a slower increase in prices but not a
in prices, which is known as deflation.
Disintermediation: Cutting out the midd
Disintermediation has become a btzz word it
financial services in particular, as competiti
and technological changes have done away wi
the need for established intermediaries.
have seen much of their business slip away,
as lending to companies that now tap capi
market direct. New economy theorists a
that many retailers would be dis-intermedi
as the intemet enabled customers to
directly with producers without needing to visit
shop. But tl'tis has happened more slowly
they predicted.
Display A special exhibit of a product or service
the point of sale, generally over and abo
standard sheif stocking. Simply books place ,
display over specific subject areas.
Distribution The marketing and carrying of
to customers (bookmobiles, facilities, li
loan.)
 169

effects: The ways in which Your Dominant firm: A firm with the ability to set
︲
ｎ  ｗ

}剛 ゝ
鷺s滞 器ifttd潔 謝請淵盟Dummy: PRICES in its market
Preliminary layout for an ad, or other print
population. material.
in Diversification (Wood) - Extends skills or experience Dumping: Selling something for less than the cost of
jl from current product or market activities rather producing it. This may be used by a dominant to
a ‐
〕 ;r .than covering totally unfamiliar territory. a strategy known to antitrust
attack rivals,
Customized' online searches by reference
librarians would extend their current research in
authorities as predatory. Participants in
print skills. intemational trade are often accused of dumping
t by domestic firms charging more than rival
ly? Diversification: Not putting all your eggs in one imports. Countries can slap duties on. cheap
tlre
i
basket. Investors are encouraged to do this by imports that they judge are being dumped in
the I modem pOrtfollo thebry, as holding sevcral their markets. Often this amounts to thinly
.' diff"r"nt ihares and othei assets helps to reduce
f鷺
disguised protectionism against more efficient

聾選淋
卜塾鱗こ S手
[. InergCrs have found ttat these oien hurt the
foreign firms.
Dwell time The amount of time a customer/user
spends in time waiting in line. For a library user
rlty l sharcholders of the acluiring■ 11..;by contra,t, this is a price expended.
l diversificd firrns that.have sold off non― core
り eCt・
Dwelting unit A single home or other unit in which
l、 bus面 csses havc typicany mad, ぬe静
a cohesive set of individuals reside, and typically
: that sharcholders much bettcr off.
many good s are purchased in common.

￨】守塩肌胤:℃ 1認 T[rld蹴 哩 EAP:orAnpartEAPof isthe cost

employee benefit that covers all
for employees to receive
an

￨ ::器 t」乱1:常 翼 鳳脚 路』誌 counseling, referrals, and advice in dealing with

，ａ Ｉ ｎ
ａ︶ ｔ

ｍ ｗ

y増
stressful in their lives. These may include issues

慧 需￡ ぶ話cili」麗
a花 TΥ 為 a群 :I: bereavement, marital problems,
:首 substance abuse,

、撮靱 鼻∬ⅧI零篤Ъ
weight or general wellness issues, issues.
n. Thiζ :略 緊t■ Earnings Statement: An Earnings Statement is a
)t a fii嗣 eldblttWtR standard financial document that summarizes a
l獄 ::L∫tiFtClcttξ company's revenue and expenses for a specific
ytt h a
lleman.
vord 潔llll焉鴇1:Lよ 認僻 period of time, usually one quarter of a fiscal
year and the entire fiscal year.
petiti
E)ivision of libor:Pcoplё are bctter off spccializing EAP:
'An
employer-sponsored program that is
ay w than trying to be jacks of all trades and ending designed to assist employees whose job
Banks up masters of none.The logic of oividing the performance is being adversely affected by such
y,
workforce into differcnt crafts and prOfcssions is personal stresses as substance abuse, addictions,
capl
the same as that undё rpinning the casO for frec marital problems, family troubles, and domestic
tradei cverybody bcncits fronl doing those violence. For every dollar invested in an EAP,
edi
things in which they have a comparative employers save approximately $5 to $16. The
advantagc and using incolne from doing so to average annual cost for an EAP ranges from $12
r visit a
rneet their other needs. to $20 per employee. Source: US Department of
[y than
DouarizatiOn: When a country's own moncy is Labor.
replaced as its citizenゞ prefered currency by the E-Recruitment: Web-based software that handles
'vlce at
US dollar.This can be a dcliberatc govcmmcnt the various processes included in recruiting and
above policy or the rcsult of IIlany p五 vatc choices by on boarding job candidates. These may include
ace on buycrs and sellers(for instance,at the first sign
山

workforce. planning, requisitioning, candidate

of trouble, investors across Latin Arnc五 ca
胸

acquisition, applicant tracking and reporting

generally flec intO d01lars).｀ hen it is (regulatory or company analytics).
govcrnlnent policy,dolla五 zation is,in essence,a
bccfed up currcncy board.
 170
E-Learning: E-learning is a method of education via
the Intemet or other computer related resources.
It presents just-in+ime information in a flexible
learning plan. E-learning can be combined with
' face-to-face courses for a blended learning
'approach.
Emotional Intelligence: Based on the book of the
same name by Daniel Goleman, Emotional
Intelligence is the ability to recognize, assess
and manage their own and others' emotions.
Employee -Assessments: Tests used to help
employers in pre-hire situations to select
candidates best suited for open positions. These
tests can sometimes be taken via the Intemet and
can provide employees with effective training,
assist managers in becoming more effective, and
promote people into appropriate positions. Types
of assessments include those todetermine
personality, aptitude and skills.
Employee Relations: Developing, maintaining, and
improving the relationship between employer
and employee by effectively and proactively
communicating with employees, processing
grievances/disputes, etc.
Employee retention: Practices and policies designed
to create a work environment that makes
employees want to stay with the organization,
thus reducing tumover.
Employee Self-Service: A program that allows
employees to handle many job-related tasks
normally conducted by HR departments
including benefits enrollment, and updating
personal information. Employees can access the
information through the company's intranet,
kiosks, or other Web-based applications.
Employment Branding: A strategy designed to
make an organization appealing as a good place
to work. This targeted marketing effort utilizes
both print and Internet tactics and attempts to
shape the perceptions of potential employees,
current employees and the public / investment
community.
Empowerment: Giving employees the resources,
skills and authority necessary to share power
with management and make decisions.
Employees are then held accountable for their
decisions and rewarded if appropriate.
Enterprise Compensation Management (ECM):
The automation of the compensation process to
assist organizations in the acquisition,
management and optimization of its workforce.
ERISA '(Employment Retirement Income
Security Act): A federal law that governs
pension and welfare employee benefit plans.
ERISA requires plans ro provide participanrs
with plan information including plan featurcs
and funding. It also requires that plans provide
fiduciary responsibilities for those who manage
and control assets. It gives participants the right
to sue for benefits and breaches of fiduciary
duty.
ERP: Short for enterprise resource planning, a
business management system that integrates all EI
facets of the business, including manufacturing,
sales, marketing, finance and human resources.
This isslightly different than best-of-breed
HRIS applications and the industry continues to
debate the merits of one versus the other. With
the growing popularity of web-based
applications (ease of use, lower costs) ERp
seems to be losing out, especially in the mid-
market.
E`
Equity theory: The idea that people desire to be
treated fairly and thus compare their own
contributions to the workplace-and resulting
rewards-against those of their coworkers, to
determine if they are being treated fairly.
Executive Coaching: Executive coaching is a
professional relationship between a Coach and
an Executive, or an Executive Team. Th6 goal is
to assist executives with positive leadirship
development. It can be provided in one-on-one
. sessions or via the Intemet.
Executive Search: An agency or organization used
by employers to assist them with the selection
and placement of :candidates for senior-level
managerial or professional positions.
Exempt Versus Non-Exempt Employees: The
difference between exempt and nonexempt
employees is who gets paid overtime and who
doesn't. The U.S. Department of Labor
specifically designates certain classes of workers
as exempt, including executives, administrative
personnel, outside salespeople, highly skilled
computer-related employees, doctors, lawyers,
engineers, etc. Managers who hire and fire
employees and who spend less than half their
time performing the same duties as their
employees are typically also exempt employees.
In general, the more responsibility and
independence or discretion an employee has, the
more likely the employee is to be considered
exempt. Generally, any worker performing

effects: The ways in which Your
policies, prograrns, and projects redistribute
low i"rootc". (and benefits and costs) in the general
l
population.
fl (Wood) - Extends skills or experience
rted from current product or market activities rather
〕 ,than covering totally unfamiliar territory.
aヽ
Customized' online searches by reference
librarians would extend their current research in
print skills.
ι by domestic firms charging more than rival
ly? Not putting all Your eggs in one
to do this by
basket. Investors. are encouraged
Llre
modern portfolio thebry, as holding several
the
different shares and othei assets helps to reduce
1
sted risk. At the sharp end of business, however,
diversification is somewhat out of' fashion.
Economic studies of diversifying corporate
mergers have found that these often hurt the
shareholders of the acquiring firm; by contrast,
diversified firms that have sold off non-core
businesses have typically made their
shareholders much better off.
Dividend: The part ofa company's profit distributed
to shareholders. Unlike interest on debt, the
payment of a dividend is not automatic. It is
Я一 ｔ
decided by the company's Inanagers' subject to
ｍ ｗ
the approval of the company's owners
(shareholders). However, when a company cuts
its dividend, this usually triggers a sharp fall in
' its share price more than would be appear to be
justified by the reduced dividend. Economists
theorize that this is because a dividend cut
11 signals to shareholders that the company is in a
vord bad way, with more bad news to follow.
petiti Division of labor: People are better off specializing
ay wl
Ban〕
than trying to be jacks of all trades and ending
up masters of none. The logic of dividing the
y,s
workforce into different crafts and professions is
the same as that underpinning the case for free
argued
trade: everybody benefits from doing those
ediated
things in which they have a
comparative
advantage and using income from doing so to
)VlSlt
meet their other needs.
ly th
Dollarization: When a country's own money is
replaced as its citizens'preferred currency by the
'vlce at
US dollar. This can be a deliberate govemment
above policy or the result of many private choices by
ace on buyers and sellers (for instance, at the first sign
of trouble, investors across l,atin America
'oducts generally flee into dollars). When it is
library govemment policy, dollarization is, in essence,
beefed up culrency board.
169
Dominant firm: A firm with the ability to set
PRICES in its market
Dummy: Preliminary layout for an ad, or other print
material.
Dumping: Selling something for less than the cost of
producing it. This may be used by a dominant to
astrategy known to antitrust
attack rivals,
authorities as predatory. Participants in
international trade are often accused of dumping
imports. Countries can slap duties on. cheap
imports that they judge are being dumped in
their markets. Often this amounts to thinly
disguised protectionism against more efficient
foreign firms.
Dwell time The amount of time a customer/user
spends in time waiting in line. For a library user
this is a price expended.
Dwelling unit A single home or other unit in which
a cohesive set of individuals reside, and typically
many good s are purchased in common.
EAP: An EAP is an employee benefit that covers all
or part of the cost for employees to receive
counseling, referrals, and advice in dealing with
stressful issues in their lives. These may include
substance abuse, bereavement, marital problems,
weight issues, or general wellness issues.
Earnings Statement: An Earnings Statement is a
standard financial document that summarizes a
company's revenue and expenses for a specific
period of time, usually one quarter of a fiscal
year and the entire fiscal year.
EAP:
'An employer-sponsored program that is
designed to assist employees whose job
performance is being adversely affected by such
personal stresses as substance abuse, addictions,
marital problems, family troubles, and domestic
violence. For every dollar invested in an EAP,
employers save approximately $5 to $16. The
average annual cost for an EAP ranges from $12
to $20 per employee. Source: US Department of
Labor.
E-Recruitment: Web-based software that handles
the various processes included in recruiting and
on boarding job candidates. These may include
workforce. planning, requisitioning, candidate
acquisition, applicant tracking and reporting
(regulatory or company analytics).
a
 770
E-Learning: EJearning is a method of education via
the Intemet or other computer related resources.
It presents just-in-time information in a flexible
learning plan. E-learning can be combined with
' face-to-face courses for a blended learning
approach.
Emotional Intelligence: Based on the book of the
same name by Daniel Goleman, Emotional
Intelligence is the ability to recognize, assess
and manage their own and others' emotions.
Employee Assessments: Tests used to help
employers in pre-hire situations to select
candidates best suited for open positions. These
tests can sometimes be taken via the Internet and
can provide employees with effective training,
assist managers in becoming more effective, and
promote people into appropriate positions. Types
of assessments include those to determine
personality, aptitude and skills.
Employee Relations: Developing, maintaining, and
improving the relationship between employer
and employee by effectively and proactively
communicating With employees, processing
grievances/disputes, etc.
Employee retention: Practices and policies designed
to create a work environment that makes
employees want to stay with the organization,
thus reducing tumover.
Employee Self-Service: A program that allows
employees to handle many job-related tasks
normally conducted by HR departments
including benefits enrollment, and updating
personal information. Employees can access the
information through the company's intranet,
kiosks, or other Web-based applications.
Employment Branding: A strategy designed to
make an organization appealing as a good place
to work. This targeted marketing effort utilizes
both print and Internet tactics and attempts to
shape the perceptions of potential employees,
current employees and the public / investment
community.
Empowerment: Giving employees the resources,
skills and authority necessary to share power
with management and make decisions.
Employees are then held accountable for their
decisions and rewarded if appropriate.
Enterprise Compensation Management (ECM):
The automation of the compensation process to
assist organizations in the acquisition,
management and optimization of its workforce.
￨
ERISA '(Employment Retirement Income
Security Act): A federal law that governs
pension and welfare employee benefit plans.
Ex
ERISA requires plans to provide participants
with plan information including plan features.
and funding. It also requires that plans provide
fiduciary responsibilities for those who manage
and control assets. It gives participants the right
to sue for benefits and breaches of fiduciary
duty. E】
ERP: Short for enterprise resource planning, a
business management system that integrates all
E】
facets of the business, including manufacturing,
sales, marketing, finance and human resources.
This is slightly different than best-of-breed
HRIS applications and the industry continues to
debate the merits of one versus the other. With
the growing popularity of web-based
applications (ease of use, lower costs) ERp
seems to be Iosing out, especially in the mid-
market.
E(
Equity theory: The idea that people desire to be
treated fairly and thus compare their own
contributions to the workplace-and resulting
rewards-against those of their coworkers, to
determine if they are being treated fairly. El
Executive Coaching: Executive coaching is a
professional relationship between a Coach and
an Executive, or an Executive Team. Thb goal is
to assist executives with positive leadership E:
development. It can be provided in one-on-one
' sessions or.via the Internet.
Executive Search: An agency or organization used
by employers to assist them with the selection
and placement of candidates for seniorJevel
managerial or professional positions.
E
Exempt Versus Non-Exempt Employees: The
difference between exempt and nonexempt
employees is who gets paid overtime and who
doesn't. The U.S. Department of Labor
specifically designates certain classes of workers
as exempt, including executives. administrative
E
personnel, outside,salespeople, highly skilled
computer-related employees, doctors, lawyers,
engineers, etc. Managers who hire and fire
employees and who spend less than half their
time performing the same duties as their
employees are typically also exempt employees.
In general, the more responsibility and
independence or discretion an employee has, the
more likely the employee is to be considered
exempt. Generally, any worker performing
 171

itivb tasks is most likely nonexempt and work with,' is the key to better business
be paid overtime. performance.

: The final meeting between Empowerment: To transfer authority and resources

, usually someone in the HR to enable a person or organization to obtain a
iiartment, and an employee leaving the greater amount of autonomy and control.

age °よ
. Information on why the employee is
Environment, external of The complex set physical
ght
ary
臨l飛 鮒Wb据 轟 鮮11鳳 ∬ and social stimuli in the external world of
consumers.
: An employee who is transferred to work Environmental analysis Gathering data regarding
on a long-term job assignment. political, cultural, social, demographic,
, a
all : EBITDA is an abbreviation for Earnings economic, legal, international and ecological
ng, before Interest, Tax, Depreciation and forces, identifying trends affecting agency.
〕
es. l.!.lAmortization. It
reports what the company Environmental impact assessment: Analysis of
ced would have earned during the period if it did not how a particular policy, program, or project may
〕to irhave to pay interest on its debt; didn't have to affect wat'er, soils, flora, fauna; and human
/ith i pay taxes; and had depreciated the full value of health and well-being.
sed ,;,all assets at their acquisition. It is roughly
RP equivalent to the Operating Income line in the Environmental monitoring Keeping track of. a

dd― Income Statements. changes in the environment.

environment Part of the macro Erratic demand A pattern of demand for a product
ｂ ｗ
ｅ ｎ 鴨 。

environrnent encompassing wealth, income, that is varied and. unpredictable, e.g., some best
productivity, inflation, credit, employment, etc. sellers, or specific online databases randomly
Which affect the agencyAibrary's markets and assigned in curriculum by teachers.
ｔ

opportunities. Evoked set A set of alternatives that are activated

evaluations: (in management science) directly from memory--certain brands
Analyses of the costs (inputs) of programs in considered during the buying process.
ａｄ ｉ

relation to their benefits or effectiveness Ex ante analysis: (e.g., in impact assessment) An

ｎ

examination of likely or probable effects prior to

ｓ 叩 ｅ

(outputs).
j implementation of a policy, program, or project:
EI: Emotional intelligence (Et) is one of the most
ｎ

l, i*portunt ideas to hit the business world in

，

Ex post analysis: (e.g., in impact assessment) An

, recent years. It is based on the.notion that the examination that looks back in time to see what
ｄ ｎｄ

happened. While ex anteanalysis is anticipatory,

ｅ ｏ

ability of managers to understand their own

ex post analysis is historical.
emotions, and those of the people they work
with, is the key to better business performance. Example, the parent selecting children's
books is the consumer.
Eighty-twenty principle The situation in which a
ｈ 口 ｈ ｏ パ ｖ艶 Ｓ
ｃ

disproportionately small number (e.g., 20Vo) of Exchange All activities associated with receiving
staff, products or users generate a something frofn someone by giving something
ｏ ｒ

disproportionately large amount (e.g., 807o) of a voluntarily in return. This is the heart of the
firm's use/profits. A use analysis should be ,. marketing process. A library user gives time
conducted to determine what the cause is. instead of money to borrow materials, but it is
ｅ

still an exchange.
Elasticity The degree that an economic variable
changes in response to a change in another Exhibit The gathering and displaying of products,
︰ ｒｉ
， ｃ ｒ 着 ｓ．ｄ К ガ ｇ

economic variable. For example, how much people, or information at a central location for
library use changes according to how far an viewing by a diverse audience. Most libraries
ウ

individual must travel for library services. have exhibits created by staff, community or
， ｌ

Emotional Intelligence: Emotional intelligence @I)
is one of the most important ideas to hit the
business world in recent years. It is based on the
notion that the ability of managers to understand
︲
other stakeholders.
Expenses: Expenses are the costs of doing business
that result from generating revenue. They
include parts, salaries, utilities, etc.

their own emotions, and those of the people they

￨
 170
E-Learning: E-learning is a method of education via
the Internet or other computer related resources.
It presents just-in-time information in a flexible
learning plan. E-learning can be combined with
face-to-face courses for a blended learning
'approach.
Emotional Intelligence: Based on the book of the
same name by Daniel Goleman, Emotional
Intelligence is the ability to recognize, assess
and manage their own and others' emotions.
Employee .Assessments: Tests to help
used
employers in pre-hire situations to select
candidates best suited for open positions. These
tests can sometimes be taken via the Intemet and
can provide employees with effective training,
assist managers in becoming more effective, and
promote people into appropriate positions. Types
of assessments include those to determine
personality, aptitude and skills.
Employee Relations: Developing, maintaining, and
improving the relationship between employer
and employee by effectively and proactively
communicating with employees, processing
grievances/disputes, etc.
Employee retention: Practices and policies designed
to create a work environment that makes
employees want to stay with the organization,
thus reducing turnover.
Employee Self-Service: A program that allows
employees to handle many job-related tasks
normally conducted by HR departments
including benefits enrollment, and updating
personal information. Employees can access the
information through the company's intranet,
kiosks, or other Web-based applications.
Employment Branding: A strategy designed to
make an organization appealing as a good place
to work. This targeted marketing effort utilizes
both print and Internet tactics and attempts to
shape the perceptions of potential employees,
current employees and the public / investment
community.
Empowerment: Giving employees the resources,
skills and authority necessary to share power
with management and make decisions.
Employees are then held accountable for their
decisions and rewarded if appropriate.
Enterprise Compensation Management (ECM):
The automation of the compensation process to
assist organizations in the acquisition,
management and optimization of its workforce.
ERISA '@mployment Retirement Income 1
Security Act): A federal law that governs, 1
pension and welfare employee benefit plans.
Exit
ERISA requires plans to provide participants
I
with plan information including plan featurcs.
〔
and funding. It also requires that plans provide
(
fiduciary responsibilities for those who manage
1
and control assets. It gives participants the right
〔
to sue for benefits and breaches of fiduciary
duty.
Ⅲｌ ノ、１ １乏ｃＩ ｃ
ERP: Short for enterprise resource planning, a
Ｅ            Ｅ             Ｅ       Ｅ
business management system that integrates all
facets of the business, including manufacturing,
sales, marketing, finance and human resourceb.
This isslightly different than besr-of-breed
HRIS applications and the industry continues to
debate the merits of one versus the other. With
the growing popularity of lveb-based
applications (ease of use, lower costs) ERP
seerns to be losing out, especially in the mid-
ｒｃ︲、く 撤 ノ．＜ Ｈｉ ｒａｃ、
。
market.
Equity theory: The idea that people desire to be
treated fairly and thus compare their own
contributions to the workplace-and resulting
rewards-against those of their coworkers, to
determine if they are being treated fairly.
Executive Coaching: Executive coaching is a
professional relationship between a Coach and
an Executive, or an Executive Team. Thb goal is
to assist executives with positive leadership
development. It can !e provided in one-on-one
. sessions or.via the Internet.
Executive Search: An agency or organization used
by employers to assist them with the selection
and placement of candidates for senior-level
managerial or plofessional positions.
Eigh
Exempt Versus Non-Exempt Employees: The C
difference between exempt and nonexempt S
employees is who gets paid overtime and who (
doesn't. The U.S. Department of Labor I
specifically designates certain classes of workers (
as exempt, including executives, administrative
Elast
personnel, outside salespeople, highly skilled
(
computer-related employees, doctors, lawyers,
(
engineers, etc. Managers who hire and fire
employees and who spend less than half their
I
i
time performing the same duties as their
employees are typically also exempt employees. Emo
In general, the more responsibility and i
independence or discretion an employee has, the t
more likely the employee is to be considered I
exempt. Generally, any worker performing t
 171

IIne repetitive tasks is most likely nonexempt and work with,' is the key to better business
performance.
rns must be paid overtime.
ins.
Interview: The finat meeting between Empowerment: To transfer authority and resources
nts
b*it
; management, usually someone in the HR to enable a person or organization to obtain a
rcs greater amount of autonomy and control.
idc
l depatt*"rt, and an employee leaving theis
i company. Information on why the employee Environment, external The complex set of physical
lge : l"uuing is gathered to gain insight into work and social stimuli in the external world of
ght
conditions and possible changes or solutions' consumers.
ary
Environmental analysis Gathering data regarding
a
political, cultural, social, demographic,
economic, legal, international and ecological
aH
forces, identifying trends affecting agency'
ng,
CS. Environmental impact assessment: Analysis of
,ed how a particular policy, program, or project may

ilW『∬嫌 静押轍
to affect watbr, soils, flora, fauna, and human
ith health and well-being.
ied
C Environmental monitoring Keeping track of a
RP ) l eq正 v● ei b tte oporalng hCOrnc hne m血 changes in the environment.
id― I InCOInc statelnents. ￨
IEcononic envirollment IPart of the maCro Erratic demand A pattern of demand for a product
i en宙 ronlnent encOmpasSing wcalth, incomん : that is varied and. unpredictable, e.g., some best

1棚盤tW‰ 器 aTl肥 :為
bc
sellers, or specific online databases randomly
Vn
assigned in curriculum by teachers.
ng

鰤
l opportunities.
to Evoked set A set of altematives that are activated
directly from memory--certain brands

ゝ嚇
鮮 T椰選 1
considered during the buying process'
ａ週 ｉ

Ex ante analysis: (e.g., in impact assessment) An

examination of likely or probable effects prior to
ｓ ｐ ｃ

、 (Outputs).
implementation of a policy, program' or project:
ｌ ｌ

‐
I EI:Emotional intclligencc KED iS One Of thC rnost
Ex post analysis: (e.g., in impact assessment) An

WT ttT∴ 胤と 留:瀧
犠篇1:λ ∫ examination that looks back in time to see what
happened. While ex anteanalysis is anticipatory,
d
〕 ability of lnanagers to understand thcir own
ex post analYsis is historical.
)n emotions, and thOsc of thc pcople they work
el with,is the key to better business pcrformancc. Example, the parent selecting children's
books is the consumer.
Dg塩
lC 猟
出翼』期鷺北u稲 」
lJ場 路 :置 Exchange All activities associated with receiving
something frotn someone by giving something

撫 撤畔Л 唾 ,,
Dt
voluntarily in return. This is the heart of the
O
)r
P還 l操 :i監 marketing process. A library user gives time
「S conducted to detcrlmne Whatthc causc iS. instead of money to borrow materials, but it is
c′ still an exchange.
d

C
聯 粧鱗 鷲
鶴髯 library use changcs according to hOw far an
Exhibit The gathering and displaying of

viewing by a diverse audience. Most libraries

products,
people, or information at a central location for

tr
individual rnust travcl for library serviccS. have exhibits created by staff, community or
tr
other stakeholders.
;. Emotional lnteuigence:Emotional intclligencc OEI)
d is one of thC moSt important idcas to hit thC Expenses: Expenses are the costs of doing business
C business world in rcccnt ycars.It is basel on thc that result from generating revenue' They
i notion that the ability of rnanagers to understand include parts, salaries, utilities, etc.
their own cmotions,and thosC ofthe pcoplc thcy

￨

Experience survey A series of interviews with
people knowledgeable about the general subjfct
being investigated.
Exploratory research A research design in which
the major emphasis is on gaining ideas and
insights.
External data Data that originate outside the
organization for which research is being done.
Externalities: (in management science) Effects of a
policy, program, or project that impose costs on
(or give benefits to) people who are not in the
target population.
Facilitator: (in planning teams) A group member
whose role is to help the group function more
effectively.
Factor analysis A body of statistical techniques
concerned with study of interrelationships
among a certain set of variables--none of which
is given the special status of a criterion variable.
Family A group of at least two people in a
household based on marriage, cohabitation,
blook relationships or adoption.
Family decision making The processes,
interactions, and roles of family members
involved in making decisions as a group.
Family life cycle A sociological concept that
describes changes in families across time,
emphasizing effects of marriage, divorce, births
and deaths on families and changes in income.
FASB FASB is the abbieviation for the Financial
Accounting Standards Board. It was created in
1973, replacing the Accounting principles Board
and the Committee on Accounting procedure of
the American Institute of Certified public
Accountants before it.
The FASB is a private body whose mission.
is to "establish and improve standa,rds cji
financial accounting and reporting for the
guidance and education of the public, including
issuers, auditors and users of financial
information." The FASB publishes GAAP.
Feature story A type of publicity material that can
be used by the media at their convenience
bgcause it is not time-related. Library materials
and services available are good candidates for
this type of story.
Feature The use of advertising, displays, or other
activity, generally by a retailer, to call special
￨
L72 i
attention to a product, generally for a limited
time.
Period of ,t.
Feedback: (in management science) Ther
information that returns to your organization.
about the consequences of your interventions.
The feedback is available for "learning', so that
behavior and decisions can be corrected to favor,
positive outcomes. See monitoring.
I'
Fill rate An inventory's availability goal used whenl
setting customer service objectives; for.example,
80 out of 100 reference questions were answeiedi
Financial Accounting Standards Board The
Financial Accounting Standards Board w&s:
created in 1973, replacing the Accountingr
Principles Board and the Committee on
Accounting Procedure of the American Institute,
of Certified Public Accouutants before it.
The FASB is a private body whose mission
, is to "establish and improve standards ofr,
financial accounting and reporting for the
guidance and education of the public, including
issuers, auditors and users of financial
information." The FASB publishes GAAP.
Fiscal Year A twelve-month accounting period that
usually, but not necessarily, starts on January l.
Fixed Assets Fixed Assets are the non-liquid assets
that are required for the company,s day-to-day
operations. They include facilities, equipment,
and real property.
Fixed Costs Fixed Costs are expenses that don't
change based on production or sales volumes,
They include salaries, rent, insurance, etc.
Fixed Term Employment: An employee agrees to
work for a fixed tefm-until a certain date, at the
completion of a project, etc.
Flexible Spending Accounts (FSA): FSA allows
employees to set aside a portion of their earnings
' on a pre-tax basis into separate spending
accounts to fund allowable health .care and/or
dependent day care expenses. The funds must be
segregated as per IRS regulations.
Flexible Work Arrangements: Schedules that allow
employees to structure their work hours around
their personal responsibilities. Examples include
job sharing, telecommuting and a
flextime,
compressed workweek. Home sourcing has
become a popular flexible work concept in
日
 t73

limited recent years. In this arrangement, employees the FASB, and used to standardize financial
work full-time from thei(homes. accounting of public companies.
The Forced Ranking: Also known as a vitality curve, Galley proof: A copy of the individual pages of an
ization this is a system of work perforrnance evaluation ad, brochure, poster or other printed material
ntions. in which employees are compared against each used for final proofreading of the text before
so that other instead of against fixed standards. Based final negatives are made for the printing process.
r favor on the "2Ol8O Rule" idea, that 20 percent of Game Theory: Game theory is based on the premise
employees do 80 percent of the meaningful, that no matter what the game, no matter what the
I when productive work, the top 20 percent of workers circumstances, there i.s a strategy that will enable
lample are rewarded and, oftentimes, the bottom 10 you to succeed.
;wered percent are fired.
Gatekeeper: Usually the individual who controls the
Freedom of association: The right of workers to flow of information from the mass media to the
The join a union andr to bargain collectively. This group or individual.
I was right is protected by the Universal Declaration of General Agents: General agents are middleman for
unting Human Rights and the Human Rights Act of carriers and brokers and usually focus on the 250
eon t993. employee market. Usually an individual
stitute
tr'unctional job analysis: Developed by the U.S. appointed by a life or health insurer to
Department of Labor, functional job analysis is a administer its business in a given territory. Gas
rission method of gathering specific and detailed job are important for companies who sell to small
Cs of information. This information can be used to employers or brokers e.9., benefits
r the write j ob descriptions. administration software providers.
tuding
ancial Flagship store In a local department store Goal Setting: Assigning specific, attainable goals to
organization/library system, the main or central a person, team or organization. Goal setting is a
store/library when it is large or dominant in motivational technique, as workers often rise to
d that relation to other comPany stores. the challenges given them.,
:y 7.
Focus group A method of gathering quantitative Good faith bargaining: A requirement of the
aSSe[S data on the preferences and beliefs of consumers Employment Relations Act of 2000 that all
o-day through group interaction and discussion usually parties to a contract conduct negotiations with a
ment, ' focused on a specific topic or product. willingness to reach an agreement on new
contract terms.
Force field analysis: A method , of identifying
don't favorable and hindenng factors relative to Grievance: a complaint by an employee due to an
achieving a particular goal. alleged violation of law or collective bargaining
Imes.
or dissatisfaction with work conditions.
Forecasting models In forecasting sales, or library
use, or other objectives, a variety of statistical Gross misconduct: An action so serious that it calls
)es to
at the models are used and available, offering insights
for the immediate dismissal of an employee.
Examples include fighting, 'drunkenness,
otherwise difficult to obtain.
harassment of others and theft.
Ilows Forecasting: (in planning) Views on what will
Group dynamics: The way that people interact
nings happen in an "unknown" future.
within a group that determines how it functions
tding Free, is competitive with local video stores and how effective the group is.
nd/or
that charge, if video collections are comparable. Generally Accepted Accounting Principles
.st be
If the Generally Accepted Accounting Principles refers
FY FY is the abbreviation for fiscal year, a twelve- to a set of widely accepted accounting standards,
rllow month accounting period that usually, but not set by the FASB, and used to standardize
ound necessarily, starts on January 1' financial accounting of public companies.
:lude
GAAP: GAAP is the abbreviation for Generally Geodemography The availability of demographic
rda consumer behavior and life style data by
has Accepted Accounting Principles. It refers to a set
rt arbitrary geographic boundaries that are
in of widely accepted accounting standards, set by
typically quite small. For example, a library-

designated service area of two census tracts
(us).
Goals: A broad and lofty big picture approach to
what the organization wants to achieve. Goals
are not always quantifiable. For example, the
library's goal is to improve reference services,
its objectives include increasing fill rate by ZOVo
in two months.
Goals: Goals are objective, measurable expectations
set to measuic pogress toward desired results.
Goals: (in plarning; iire particular results that an
organization strives to produce in carrying out its
mission.
Goods: A product that has tangible form in contrast
to services that are intangible. A book versus a
story read.
Gravity model: A theory about the structure of
market areas. The model states that the volume
of purchases by consumers/users the frequency
of trips to the outlets are a function of the size of
the stores/library and the distance between the
store and the origin of the shopping trip.
Gross Profit: Grosf'profit equals sales revenue
minus the cost of goods sold.
Gross Revenue: Gross Revenue is money generated
by all of a company's operations, before
deductions for expenses
Growth state of product life cycle: Second stage
during which sales/use are increasing. For
examples, the second year of the library's
talking books program for the visuaily
handicapped.
Habit: A learned response to a stirnulus that has
become automaticind routine, requiring little or
no cognitive effort. It is often said that the
reading and library habit if not learned as a
child, will not be letrrned as an adult.
Halo effect: A problem that arises in data collection
when there is carry over from one judgment to
another. For example, estimation of reference
questions inferred from the previous week,s
count.
Hawthorne Effect: The theory that organizations
can motivate their employees as much or more
by expressing concern for problems as by
actually improving their work conditions. This
personal interest results in increased
performance, according to the observations of
productivity researcher George Elton Mayo.
!74
Hierarchy of needs: A theory created by
psychologist Abraham Maslow that stares
humans constantiy strive to meet a series of
needs, going from physical (food and shelter) all
the way to spiritual (self-actualization).
HR Audit: A periodic measurement of human
resources effectiveness, conducted by intemal
staff or with the use of an HR audit system.
HR Generalist: An individual who is able to
perform more than one diversified human
resources function, rather then specializing in
one specific function.
Human Capital: The collective skills, knowledge
and competencies of an organization,s p"op1"
that enables them to create economic value.
Human Capital Management: The challenge of
recruiting and retaining qualified candidatei, and
helping new employees fit into an organization.
The goal is to keep employees contributing to
the organizations intellectual capital by offering
competitive salary, benefits and developmeni
opportunities.-The major functions of hu*an
capital management include Recruitment,
Compensation, Benefits and Training.
Human Resource Information System (HRJS):
Business software systems that assist in the
management of human resource data (e.g.
Payroll, job title, candidate contact information).
Some of the larger HRIS platforms include SAp
and People soft.
Human Reiource Outsourcing (IIRO): A
contractual agreement between an employer and
an external third-party provider whereby the
employer transfers responsibility and
management for certain HR, benefit or training_
related functions or services to the external
provider.
High income tountries: Countries whose income
per capita are high compared to the rest of the
world.
Image The sum of beliefs, ideas and impressions that
a person has of an object or agency. (Assael).
For example, the library holds an image of
' prestige for some cammunities.
Impact assessment: (in management science)
Evaluation of the extent to which a policy,
program, or project causes changes (e.g.,
economic, social, environmental) for a target
population.

Impact: The net effects of a policy, program, or
project. See impact assessment.
Incentive pay: Additional compensation used as a
motivational tool to exceed specified work goals.
Independent contractor: A self-employed person
who works for another person or organization on
a contract basis.
Individual employment agreement: A written
document that describes the legal relationship
between an employer and employee.
Industrial relations: A field of study that examines
the relationshi! between employer and
employees, particularly groups of workers in
unions.
Intangible rewards:;A subjective benefit that has no
monetary value, such as praise for excellent
performance.
ISO 9000: A set of intemationally-accepted
standhrds, created by the International
Organization for Standardization, for quality
management and quality assurance. These
standards apply uniformly across all industries
and company size. Companies can receive ISO
9000 certification for meeting these standards.
Job analysis: The process of gathering information
about the requirements and necessary skills of a
job in order to create ajob description.
Job Board: An online location that provides an up-
to-date listing of currentjob vacancies in various
industries. Applicants are able to apply for
employment through the job board itself. Many
job boards have a variety of additional services
to help job seekers manage their careers and
their ongoing job search processes.
Job Description: A written statement that explains
the responsibilities and qualifications of a given
job, based on a job analysis. The job description
usually includes specific required tasks as well
as an overyiew of the position and whom the
employee reports to.
Job evaluation: A comparison of one job with other
jobs in a company for the purpose of assessing
fair compensation.
Irrcome differential The difference in income levels
among people of various categories, such as
different jobs, geographic areas, age classes,
sexes, races and the like.
Income Statement An Income Statement is
standard financial document that summarizes
175
company's revenue and expenses for a specific
penod of time, usually one quarter of a fiscal
year and the entire fiscal year.
Industrialized country Characteristics: 1) degree of
urbanization increases; literacy levels are high,
exceeding 85Vo, population engaged in
agriculture drops substantially; 2) wage levels
rise sharply and ownership of durables; 3) need
for labor saving methods creates new industries.
Inputs (in planning): The information, budget,
personnel time, and other resources that go inro
and support a planning process.
Insider A company insider is someone who has
access to the important information about a
company that affects its stock price or might
infl uence investors decisions.
People who are not ernployees of the company may
be company insiders. Auditors, outside counsel,
brokers and analysts may fit the definition.
Insider Trading Illegal Insider Trading is the
trading in a security (buying or selling a stock)
based on material information that is nor
available to the general public. It is prohibited by
the US Secudties and Exchange Commission
(SEC) because it is unfair and would destroy the
securities markets by destroying investor
confidence.
Institutional development: To improve the laws,
regulations, and human resources affecting one
or more organizations.
Intellectual Property Intellectual Property (IP) is all
of a company's patents, trademarks, service
marks, trade names, trade secrets, and
copyrights. It is distinguished from capital
property.
Interest groups: (in relation to forests) Persons and
groups who claim rights and interests in the
ways that forests are protected and managed,
now and in the future
Intervention: (in management science) A planned
effort to produce favorable changes in a target
population.
IP Intellectual Property (IP) is all of a company's
patents, trademarks, service marks, trade names,
trade secrets, and copyrights. It is distinguished
from capital property.
Job Enlargement Job Enlargement is the honzontal
a expansion of a job. It involves the addition of
a tasks at the same level of skill and responsibility.
 176

It is done to keep workers from getting bored. It Labor force participation rate: The ratio berween ⅣII
is different than job enrichment.
the labor force (all those currently employed
or
Job Enrichment Job Enrichment is the addition to a
seeking work) and the nation,s total working_age
job of tasks that increase the amount of population.
employee control or responsibility. It is a
vertical expansion of the job as opjosed to the
Labor Market: A geographical region (local,
horizontal expansion of a job, whicir is called job
national or inrernation;l) in *1i"n hbor
transactions occur___employers find workers
enlargement. and
workers find work.
Kaizen (Quatity Circles) As much a social system
Leadership Development: Activities, whether
as an industrial process, kaizen is at the
heart of formal or informal, that enhances leadership
the quality philosophy, and involves the use\of
qualities
quality circles - or small teams of workers _ Ⅳl:
to
analyze and make suggestions for improving LIF'O (Last In, First Out): A method of
their own work tasks. determining who should be laid off in which the
most recent hires are laid off first.
Key Performance Indicators (KpIs): Tasks that
are
central to the success of a business and show, Lump sum payment: A single large payment
given
when measured, .whether the business i; to an employee, usually instead of more and
advancing toward its strategic.goals. smaller pay increases.
KSAs: The Knowledge, Skills and Abilities an Leadership: Guidance of a group of people to
employee needs to meet the requirements accomplish one or more goals.
of a
job.
Legal-service area (library) The geographic
area for
Key Performance Indicators Key performance which a public library is eitat'ilsfred to
oifer
Indicators (KpI) are quantifiable measurements services and from which or on behalf
of wnictrj'
agreed to beforehand, that reflect the critical the library derives income, plus any
areas served
success factors (of the company, department, under contract for which the library is the
projecr). primary service provider.
Key result, areas: (in planning): The tasks and
Liabilities: Liabilities arb ail of a company,s
activities that are most important in determining financial obligations that have a negative
value. Pl
if an organization or individual will be Life style: The
successful (e.g., in achieving a goal). manner in which people conduct
their lives, incli,ctipg their activities, opinions,
Key success factors: The factors that are a necessary uld'interests (AIO). This is more difficult
to
condition for success in a given market. Foi obtain and more expensive. For libraries
example in a highly Hispanic market, a library important to undersiand the lifestyl"'of
it is
to users,
succeed would have Spanish language . ald how the library may iit
betrer
materials. into those
-ir^^grtf,"r"a
liiestyles. Sometimes tfril a"i"
Key Success Indicators: Key Success Indicators Uy
are community media, or large .o_p*i",
quantifiable measurements, agreed to in the
community.
beforehand, that reflect the critiJal success
M
factors (of the company, department, project). Literature search: A search of statistics,
trade
journal articles and other media for
Knowledge: Consumers, meanings or beliefs clata or
about insight into the problems ar hand. Special M
products, brands, storesi that is stored in
libraries often provide customized searches
memory. for a
fee.
ruI: {Pt are quantifiable measurements, agrebd to Long Term Assets: Long Term Assets are the
beforehand, that reflect the critical success
non_
liquid assets that are required for the company,s
factors (of the company, department, project).
day-to-day operations. They include facilities,
KSA: KSA is Human Resources (IIR) shorthand for equipment, and real property.
Knowledge, Skills and Abilities. These attributes M
Low income countries: Countries with the lowest
can be used to describe an individual, a position,
income per capita compared with.the rest
or both. of the
world. The bottom quartile is often considered
low income.
 I'
ii.
177

)Cn Macro environment: The conditions facing a Myers-Briggs Type Indicator (MBTI): A well-
Or i; company/library including demographic known personality type assessment designed to
lge ' economic, natural, technological, political, and measure people' s psychological preferences. The
' cultural forces. personality is divided into four diqhotomies,
with 16 personality types possible. The system is
al, Managed Care: A health care system in which the partly based on the theories of psychologist Carl
)Or provider manages the care of the individual for a Jung.
nd ',:: fixed fee. The opposite of this preventive
intervention (or, population-based) approach is Market - The set 'of actual or potential users/
':
: fee-for-service. Managed care emphasizes customers. (Kotler)
ter
wellness and prevention. Market area A geographical area containing the
ip
Marketing PR: Marketing PR is the combining of customers/users of a particular firm/library for
what are traditionally two separate departments, specific goods or services. This would be
Of
public relations and marketing, to one integrated determined by geo-coding library users'
lC addresses and determining the boundaries of the
' front whereby all marketing and PR activities
directly. Marketing PR primary geographic market.
focus on reaching buyers
ｎ ｉ

incorporates both traditional narketing and PR Market demand The total volume of a product or
ｄ

tactics with social media and other Intemet- service bought/used by a specific group of
initiatives
'that support the measurable
based customers/users in a specified market area
goals of online publicity, increased web site
,o
during a specified period. For example, the
traffic, search-optimization (SEO) and, lead
demand for best sellers during the fall.

)r PR and Marketing PR is the use of a press
)r release. Traditional PR writes and distributes a
ゆ press release for the sole purpose of securing
d media placements. Marketing PR does this as
C well but also uses the press release to enhance
website SEO, increase web site traffic and
generate qualified sales leads.
S
Matrix organization: Used primarily in
management of large projects, a horizontal
t
authority structure in which teams are created
from various departments and report to more
)
than one boss.
,Mediation Services: The use of a trained third party
to settle an employment dispute. The third party
has no legal authority and so must
persuasion to settle the disPute'
Market'development Expanding the total market
served by 1) entering new segments, 2)
converting nonusers, 3) increasing use by
present users.
Market positioning: Positioning refers to the user's
perceptions of the place a ptoduct or brand
occupies in a market segment. Or how the
the company/library' s offering is differentiated from
the competition's. For a library a competitor
may be another public agency competing for
public funds. What unique niche does the library
serve when competing against police for
same $$
Market profile A breakdown of a facility's market
use area according to income, demography, and life
style (often.)

Mentoring: An informal training process between a
more experienced person and a junior employee.
Minimum wage: The lowest amount an employer
can pay an hourly employee. This rate is set by
the federal government
Mission Statement: A description of
organization's purpose: what it does, what
markets it serves and what direction it is going
' geographic (branch-level); psychographics
in.
Motivational Theories: Psychological models that
attempt to explain what motivates people. These
theories can help employers design incentive
strategies.
Market research The systematic gathering,
recording and analyzing of data with respect to a
particular market, where market refers to a
specific user group in a specific geographic area.
Market segmentation The process of subdividing a
market into distinct subsets of users that behave
an
in the same way or have similar needs. Segments
for the library could be demographic (Asian);
(leisure-oriented); customer size (largest user
group area); benefits (have children in the home
learning to read.)
Market Share A company's market share is the
percentage of any of its markets that it holds.
 178
Companies will often discount their products in
order to saturate the marketplace with them and
thereby gain a bigger market share.
Market share A proportion of the total sales/use in a
market obtained by a given facility or chain.
Branch Ahas 35Vo of the system's cirqulation.
Marketing channel A set of institutions necessary to
transfer the title to goodb and to move goods
from the point of consumptiora. (Vendors,
publishers, library facilities.)
Marketing mix The mix of controllable variables
that the firm/library uses to reach desired
use/sales level in target market, including price,
product, place and promotion- 4 p's. For a
library this would be embodied in price of user,s
time to access goods, a product would be a book
or story time, place is a branch or bookmobile,
and promotion is publicity, displays etc.
Marketing opportunity - An attractive arena of
relevant marketing action in which a particular
organization is likely to enjoy a superior and
competitive advantage. The library is selected to
host the community heritage festival which is
funded by the city. (Kotlgr)
Marketing plan A document composed of an
analysis of the current marketing situation,
opportunities and threats, analysis, marketing
objectives, marketing strategy, action programs,
and projected income statement. This could be
very similar to a library's long range plan.
Maturity stage of product life cycle Initial
rapid growth is over and use/sales level off.
Marketing The process of planning and executing
the conception, pricing, promotion, and
distribution of ideas, goods, and services to
create exchanges that satisfy individual and
organizational goals.
Metrics: Metrics are a set of measurements that
quantify results. Performance metrics quantify
the units performance. Project metrics tell you
whether the project is meeting its goals.
Business metrics define the business'progress in
measurable terms.
Microenvironment The set of forceS close to an
organization that have direct impact on its ability
to serve its customers, including channel
member organizations, competitors, user
markets, publics and the capabilities of the
organization.
Milestone: (in planning) The completion of an
important event or activity in a longer sequence
of events and activities (i.e., a measure of
progress).
Mission statement An expression of a company,s/
library's history, managerial preferences,
environmental concerns, resources, and
competencies. It is used to guide the company's
decision making process, answering rvhat is our Nel
business, who do we serve, etc.
Mission: (in planning) The broad general purposes
for which an organization exists.
Model (in planning) A simplified physical,
conceptual, or mathematical abstraction of the Nel
real world to help understand relationships (such
as cause and effect).
Monitoring: Assessing the extent to which a policy,
program,-or project is implemented in ways that NG
are consistent with its intention.
Mores The cultural norrns that specify behavior of
vital importance to society and enrbody its basic
moral values
Motivation The positive or negative needs, goals,
desires and forces that impel an individual Nol
toward or away from certain actions, activities,
objects or conditions. The inner needs and wants
of an individual--what affects behavior.
Multiple purpose trip A key concept in central NoI
place theory that argues consumers prefer to visit
more than one store per trip, generating positive
externalities for neighboring stores. This view
has mixed reviews in the library field, yet is
NoF
usually the norm for rural areas.
NDA NDA is the abbreviation for non-disclosure
agreement. An NDA is a legal contract that
allows a company to share its IP with others, Nol
whose input it needs, without unduly
jeopardizing that information.
Needs assessment: Systematic appraisal of the type,
Nor
depth, and scope of a problem.
Negotiation: Bargaining between two or more
parties with the goal of reaching consensus or
resolving a problem.
Nepotism: Preferential hiring of relatives and
friends, even though others might be more
qualified for those positions.
"Non-lraditional" versus "Traditional"
Employee Benefits: Traditional benefits include
life, retirement, health, and disability benefits.
 l

179

In of Non-traditional benefits include various types of often have success/failure rather than
seque Iife management benefits such as eaps, child and quantifiable metrics.
asure of elder care counseling and referral, etc. (see life
management benefits). According to the US Objectives: The desired or needed result to be
Chamber of Commerce, health insurance is the achieved by a specific time. An objective is
mpany's/ more specific than a goal, and one objective can
most expensive single benefit cost, accounting
ferences,
for about 2OVo of total benefits, or abont $2,666 be broken down into a number of specific
s, and
per employee on average. (as per a 1999 study.) actions.
)mpany's
rat is our Objectives: (in planning) Details about goals in
Net lncOme is total revcnuc minus total expcnse, 'terms of what, how much, when, and by whom
111 whars left of the rnonies received after all debts
an action is to be accomplished.
purposes l haVe been paid,the bottom linc.If Netlncome is
l pOSit市 C it is also callcd Nct Profit.A ncgativO Observation A method of data collection in which
I Netlncomcis a Net Loss. the situation of interest is watched and the
physical, relevant facts, actions and behaviors are
n of the recorded. This is a important area of library use
:ps (such which is usually uncounted--what people are
actually doing in the library e.g., browsing, using
the computer, reading to a child, etc.
a policy,
zays that Observation interview: A method of assessing job
requirements and skills by observing the
avior of employee at work, followed by an interview
its basic with the employee for further assessment and
insight.

;, goals,, Off shoring: The act of moving work to an overseas

dividual 品 al scalc A rneasuК Incnt sc」 e
綺 h whch location to take advantage of lower labor costs.
Off shoring usually involves manufacturing;
:tivities, l numbers are assigned to attributes of ottects Or
rd wants ' information technology and back-office services

11:翠lil:認 識lcruy br ttc PuttoSe Of like call centers and bill processing. Companies
can build its own work center abroad, establish a
central lNOn:disdosure Agreement: a legal contract that foreign division, or create a subsidiary in remote
: to visit anows a company to sharc its intcllcctual locations.
positive l prOperty cP)With Others,whose input it necds,
is view Withbut undulyjeopardizing that infollllation. On boarding: The process of moving a new hire
, yet is from applicant to employee status ensuring that
N9m probabilil収 sample:A sample that relies on paperwork is done, benefits administration is
l perSOnal judgmcnt soFneWhere in thc clcmcnt underway, and orientation is completed.
;closure SeleCtiOn proccss.
lct that Organic Search Results: Search results returned by
Nonprorlt marketing: The Ⅱnrkcting of a product search engines that are based purely on the
others,
unduly
or service in which the offer itsclf is notintended content of the pages and page popularity.
to make a monetary profit for the marketer. Organic search results are not categorized
Norms:The rulcs Of bchavior that are part of thc directory results, or pay-per-click advertising
re type, results. According to marketingsherpa.com, total
ideology of the group.NollllS tCnd to reflect the
‐ values of thc group and specify thosc actions
money spent on search engine optimization
' more that are proper and thOsc that are inapprop五 atし ,
represents only l2%o of what is spent on pay-for-
nsus or ￨‐ as wen as rewards for adhcrcnce and thc click advertising (PPC). What makes this
statistic so startling is that it is that organic
翻

punishment fOr cOnforlmty, No■ 11lS are

一

l‐

search engine results (those that show up in

呻

l ilnpOrtant for libraHans to undcrstand whcn

‐ seⅣ ing culturally divcrse llnarkets.
natural "free" listings) are better noticed, read,
and clicked on than the paid listings.
eCt市 e:A business Oucct市 e is something the
10可
Organizational Culture: The values, attitudes,
tional" l buShess is dming tOward or a stratc」 c pod● On beliefs and behaviors that characterize an
include l itiS WOrking to attain.Usually it is a step in thc organization. It is the unwritten workplace ethos
:nefits. l Strategy.0切 ectiVes are sin」 lar to goals,but that is picked up by new employees.
 180
Organizational Development: A planned
organization-wide effort to improve and increase
the organizations effectiveness, productivity,
return on investment and overall employee job
satisfaction through planned interventions in the
organization's processes.
Orientation: Introducing new hires to the
organization and its policies, benefits and
culture. Training and familiarization with each
department are sometimes included.
OSIIA: The Occupation Safety and Health
Administration, an agency of the U.S.
Department of Labor. The agency's goal is to
promote health and reduce accidents, injury and
death in the workplace.
Outplacement: A benefit offered by a downsizing
employer to assist former employees in re-
entering the job market. Assistance can include
job training, resume workshops, interview
practice and career counseling.
Outsourcing: Contracting out non-core functions,
such as payroll, benefits administration or
nlanufacturing, to save money and focus on what
the company does best.
OD Organization Development (OD) is an evolving
field of consulting practice that is dedicated to
understanding and positively impacting rhe
. processes of human systems (formal and
informal groups, tearns, organizations, and
individual leaders) in order to increase their
effectiveness, health and overall success. OD
practitioners leverage the best of a variety of
disciplines, including applied behavioral science.
OD focuses on achieving results through people.
Opinion A belief or emotionally neutral cognition
the individual holds about some aspect or object
in the environment.
Opportunities A company's opportunities are the
gains it has the potential to realize. It may have
the potential to gain market share, the ability to
raise cash by divesting of less-profitable units,
etc. Opportunities are also part of a SWOT
analysis, the abbreviation for strengths,
weaknesses, opportunities, and threats.
Oppprtunity cost: If you are following Plan A, then
you give up the opportunity of alternative Plans
B, C, etc. The value of what you give up (i.e.,
sacrifice or forego) is thebpportunity cost.
Ordinal scale A measurement in which numbers
assigned to attributes of objects of classes
objects to reflect the order. Pa5
Organization Development Organizat
Development (OD) is an evolving field
consulting practice that is dedicated
understanding and positively impacting the
processes of human systems (formal and
informal groups, teams, organizations, and, Pet
individual leaders) in order to increase their
effectiveness, health and overall success. OD
practitioners leverage the best of a variety of Pe】
disciplines, including applied behavioral science.
OD focuses on achieving results through people.
Pel
Output evaluation An objective measure of use,
performance, such as circulation per capita of a
library population, reference transactions per,
capita, etc.
Outputs: (in planning) The products that emerge,
from a planning process in terms of information,
actions, and other results.
Outsourcing, involves an orga.nization pdssing the
provision of a service or the execution of a task
previously undertaken in-house to a third party
Pe
to perform on its behalf.
Ownership: (in planning) To agree with and accept
a plan, especially because of having contributed
to its formulation.
Paradigm A par4digm is a pattern or example. In
business it is a ffamework of behaviors or set of
rules action governing people's actions and
assumptions.
Pareto chart: A quality assurance tool that ranks
information, like reasons for certain problems, in
descending order. The goal is to identify the
. most serious problems so improvements can be
made.
Pay-Per-Click (PPC): Online advertising payment
model in which payment is based on qualifying Pr
click-through. A typical PPC agreement has the
. advertiser paying for clicks to the destination site
based on a prearranged per-click rate. Popular
PPC advdrtising options include search engines
(right sidebar on Google). Paying per click is
different than paying per impression which
generates lower-quality traffic/leads.
Pay-Per-Impression: Online advertising payment
mode in which payment is based on how often
the "publisher" (e.g., web site where you
purchase a banner ad) shows your banner ad on
 181

r their web site (e.g., an 'limpression"). Typically, factors (e.g., 80 percent of the results can be
prices are set per one thousand exposures. explained by 20 percent of the causes).

Payroll: Documentation created and maintained by Participatory planning: To invite people to express
the employer containing such information as their beliefs, preferences, and recommendations
ization hours worked, salaries, wages, commissions, during the course of a planning exercise,
:ld of bonuses, vacation/sick, pay, contributions to especially when the participation extends to
:d to qualified health and pension plans, net pay apd people outside the organization that does the
g the deductions. planning.
I and
Peer appraisal: A performance assessment given by Patronage motives The motives that dnve an
, and . individuaUuser toward selection of a particular
: their' an employee's peers lvho have observed the
s. OD i employee's job Performance' outlet, retailer, or supplier of services.
ety of Performance Appraisal: A periodic review and Patterns of behavior that differ from those of the
:ience,
' evaluation of an individual's job performance. overall culture. These subcultures are important
eople.
:Pcrformance Improvement: A plan to improve an PDCA is a cycle of activities (Plan, Do, Check, Act)
of use employee's performance in which the designed to drive continuous improvement.
taofa ' performance problem is identified, modified and Initially implemented in manufacturing, it has
rs per monitored. broad applicability in business. First developed
by Walter Shewhart, it was popularized by
Per{ormance Management: The process of Edwards Deming.
)merge. maintaining or improving employee job
nation, performance through the use of performance Penetrated market: Actual set of users actually
assessment tools, coaching and counseling. The consuming the product/service. (Kotler)
ng the ultimate goal is to better meet organizational
Per capita income: A nation's or other geographic
a task objectives.
market's total income divided by the number of
I party Performance Planning: An organization-wide plan persons in its population.
to manage employeos and their performance
wherein goals are set for employees, Perception is the cognitive impression that is formed
accept
departments and the organization as a whole.
of "reality" which in tum influences the
ibuted
individual's actions and behavior toward that
Plan,sponsor: An entity that has adopted and has object. 1

ple. In maintained an employee-benefit plan. The plan

'set of sponsor is often an employer, but may be a
Performance indicator: (in planning) The
union or a professional association. The Plan measurement or other type of evidence that
s and
shows whether or not a goal is being achieved.
Sponsor is responsible for determining employee
participation and the amount of benefits Personal income: The current income received by
ranks involved. persons from all sources less contributions for
lms, in
An social insurance--e. g., Social Security (US).
fy the Probationary Arrangement: agreement
:an be between an employer and employee that the Personal interview: A direct, face-to face
employee will work for a set amount of time on conversation between a representative of the
' a trial or probationary period. research organization (the interviewer) and a
ryment
respondent or interviewee.
lifying Professional Employer Organization (PEO): A
ras the staffing service that is contracted to assume the Personality: Consistent pattem of responses to the
on site employers responsibilities and risk for hisftter ' stimuli from both internal and extemal sources.
'opular worKorce. Employees are legally co-employed Physical inventory: An inventory determined by
,ngines by the PEO. The PEO is responsible for such actual count and evidenced by a listing of
lick is actions as the preparation of accurate payroll quantity, weight, or measure. Number of
which
checks, the remittance of payroll taxes to federal volumes, periodicals, vides a library owns.
and state jurisdictions and the preparation of
Place: In the channels of distribution, the physical
tyment various tax information.
z often
facilities point of location (bookmobiles,
Pareto principle: The concept that most of a given branches, etc.)
3 you
set of results are due to a small number of causal
ad on
 L82
PIan Do Check Act is a cycle of activities designed
to drive continuous improvement. Initially
implemented in manufacturing, it has broad
applicability in business. First developed by
Walter Shewhart, it was populaizedby Edwards
Deming.
Planning: The process of looking into the future'and
defining strategies (actions, interventions) to
achieve goals.
Point-of-purchase: Promotional materials placed at
the contact sales point designed to attract user
interest or call attention to a special offer, e.g.,
'Sigrt up for Summer Reading Program.'
Point-of-sale (POS): A data collection system that
electronically receives and stores bar code
information derived from a sales transaction.
This could the zip codes for library users,
facilitating the library in determining geographic
market are that users reside in.
Population at need: The elements of the population
who have or will develop a particular need,
want, or risk.
Population The totality of cases that conforms to
some designated specifications.
Potential market - Set of users who profess some
level of interest in a designed market offer.
Poverty level The poverty level is based solely on
money income and updated every year to reflect
changes in the consumer price index, used to
classify families as being above or below the
poverty level.
Pre industrialized country Characteristics: 1) low
literacy rates and high percentage of
employment in agriculture; 2) low population
density and low degree of urbanization; 3)
linguistic heterogeneity and a small percentage
of working age population; 4) industrial sectors
nonexistent and undeveloped; 5) heavy reliance
on foreign sources for all manufacturers and
principal engagement in agricultural endeavors.
Press conference A. convening of media by a person
or organization to explain, announce or expand
on a particular subject.
Price The formal ratio that indicates the quantities of
money. goods or services needed to acquire a
given quantity of goods or services. For a library
user price may come in the form of time the
library users must expend to obtain library
materials or services.
Private sector Activities outside the public sector
that are independent of government control,
usually, but not always carried on for a profit.
Product A bundle of attributes or features, functions,
benefits and uses capable of exchange, usually in
tangible or intangible forms. The library's
products include matenals to use, questions
answered, story hours, online searching, etc.
Product life cycle The four stages products go
through from birth to death: introductory,
growth, maturity, and decline.
Product mix The full set of products offered by an
organization e.g., books, videos, story hours, etc.
Product positioning: The way,users/consumers
view competitive brands or types of products.
This can be manipulated by the;
organization/library. The library's video'
ｒヽ
collection, available for
Profit and Loss Statement is a standard financial
document that summarizes a company's revenue
and expenses for a specific period of time,
usually one quarter of a fiscal year and the ent
fiscal year.
ｒヽ
Promotion mix The various communication'
techniques such as advertising, personal selling;
sales promotion, and public relations/ product'
publicity available to the marketer to achieve
specific goals. A library may use a combination,
of newspaper editorial, public service
announcements on radio and possible televisi
Q
if no budget is available for advertising.
Psychographic analysis A technique
investigates how people live, what
them, what theyl like--also called life
Ｑ
    Ｑ
analysis or AIO because it relies on a number
statements about a person's activities,
and opinions.
Psychographic segmentation Dividing markets i
segments on the basis of consumer life styles.
Public opinion The consensus view of a popu
on a topic.
Public policy"A coulse of action pursued by
government pertaining to people as a whole
which laws rest.
Public relations The form of
management that seeks to make use of publici
and other nonpaid forms of promotion
information to influence feelings, opinions,
beliefs about the agency/library and its o
 :
183

lic r,ii,.l This is a traditional form of communication for Recruitment: The process of finding and hiring the
con
li,' library managernent, as paid advertising media is best-qualified candidate for a position.
rrofit. rarely used. Recruitment Process Outsourcing (RPO): The
Public sector Those marketing activi.ties that are a outsourcing of the recruiting process to a third
uncttons
carried out by govemment agencies for public party.
rsually in
service rather than for Profit. Redundancy: Eliminating jobs or job categories as
libraryi ..:
luest Public service announcement (PSA): An they become unnecessary to the functioning of
etc. ' advertisement or commercial that is carried by an organization.

lucts an advertising vehicle at no cost as a public Replacement charts: A tool in succession planning
service to its readers, viewers, or listeners. While in which current and future job vacancies, as
the no cost aspect is appealing, a library or other well as the number of employees in currently
agency utilizing this media quickly realizes there filled jobs, are visually summarized.
:d by is no control on the most effective time of
,urs, etc.
placement.
Request for proposal (RFP): It is a request sent by
a company to a vendor to submit a bid for a
nsumers Publics The groups of people that have an actual or product or service. The bid includes a timeline, a
,roducts.
possible interest in 9r impact on the company's ,description of the good or service, the type of
y the efforts to achieve its goals. contract, cost and other specifics.
video
.Quality control An ongoing analysis of operations, Restrictive covenant: Also known as a negative
to verify goods or service meet specified covenant; a provision in a contract excluding key
inancial standards, or to better answer customer/user employees from working for competitors in a
revenue complaints. Libraries have been criticized for not certain geographic area and for a certain length
,f time, employing more quality control standards on of time.
e entire library services.
Return on investment (ROI): The percentage of
Quality management: A system to make sure that a profit on an investment compared to the cost of
rication product or service meets standards of excellence, that investment also called the rate of return or
selling, and that the process by which the product or yield. .
rroduct service is created is efficient and effective as
rchievg well. The three key components of this system Right to manage: The "right" of management to
ination , are quality control, quality assurance and quality conduct business without having to answer to
service improvement. internal or extemal forces for their decisions.
:vision, Risk Management: The use of insurance and other
Quality of life Sometimes measured by income,
wealth, safety, recreation and education strategies to mininuze an organization's
rhat facilities, education health, aesthetics, leisure exposure to liability in the event of loss or
Iterests time and the like. injury.
style : Quantity discount: A reduction in price for volume RSS (ReaI Simple Syndication): A commonly used
rber of protocol for delivering web-based content such
purchases.
terests as blogs. RSS is an XMl-based format that
Questionnaire A
document that is used to guide allows webmasters to provide fresh web content
what questions are to be asked respondents and in a succinct manner. It is fast becoming an easy
ts into
in what order, sometimes lists the alternative and affordable way to spread content.
es.
responses that are acceptable. An excellent
rlation research instrument for libraries to assess Range The maximum distance a consumer is
customer satisfaction is exit interviews. ordinarily willing to travel for a good or service;
as such it determines the outer limit of a
ｈ ｍ
ｔ
ツｌ

R & D is the abbreviation for Research and store/library's market area. Research in the
Ｄ
ｃ

Development. This refers to the line on an

library field indicate there is an average two mile
income statement showing the amount of money limit for a library user to travel to a branch,
a company has re-invested during the period to while for a central library with specialized good,
;ation find and develop new products.
rlicity it may widen to even 10 or 15 miles. This
Random Testing: Employer-administered drug and research does not allow for the travel limrtations
and
alcohol tests conducted at random intervals. imposed by culture, age, or physical handicap, or
ns or
topographicaI bamers.
rings,

Reach The number of people or households
to a particular advertising media
exposed
or media
schedule during a specified time.
Reference group A group that the individual tends
to use as the anc*ror point for evaluating hisArer
own beliefs and attitudes. Teenagers influence
their peers regarding library use.
Regression analysis: A statistical technique to
derive an equation that relates a iingle,
continuous criterion variable to one or more
continuous predictor variables.
Reilly's law A model used in trade area analysis to
define the relative ability of two cities to utt u"t
users from the area between them.
Relationship Marketing refers to the benefits
that
ongoing relationships with key customers can
bring to an organization.
Request for Proposal is a document issued when
an
organization wants to
buy something and
chooses to make-the specifiiations available
to
many other companies so they can submit
competitive bids.
Request for Quotation is a document issued when
an organization wants to buy something and
chooses to make the specifications available
to
many other companies so they can submit
competitive bids.
Research and Development refers to the line
on an
income statement showing the amount of money
a company has re-invested during the period to
find and develop new products.
Respondent A person who is asked for information
using either written or verbal questioning,
typically employing a questionnaire to guide thi
questioning.
Restricted Siock Units of stock with restrictions on
when they can be sold, usually issued as partial
compensation for employees and directqrs. The
restriction usually lifts in 3 to 5 years when the
stock vests.
Return on Assets (abbreviated ROA) is a measure
of 4 company's profitability. It is calculated as
earnings divided total average assets and is
expressed as a percentage.
Return on Investment (abbreviated ROf) is a
measure of a company,s ability to use its assets
to generate.additional value for shareholders. It
is calculated as Net profit divided by Net Worth,
and expressed as a percentage.
184
Revenue is money generated by a company,s
operations, before deductions for expenses.
RFP is the abbreviation for Requesi for proposal.
An
RFP is issued when an organization *unt, to buy
something and chooses to make th;
specifications available to many other companies
so they can submit competitive bids.
RFQ is the abbreviation for Requesf for
euotation.
An RFQ is issued when an organization wants
to
buy something and chooses to make the
specifications available to many other companies
so they can submit competitive bids.
ROA is the abbreviation for Retum on Assets. It
is a
measure of a company's profitability and
is
calculated as earnings divided totui ,u.rug.
assets. ROA is expressed as a percentage.
ROI is the abbreviation for Return on Investment.
It
is a measure of a company's ability to use its
assets to generate additional value for
shareholders. It is calculated as Net profit
divided by Net Worth, and expressed as a
percentage.
RoIe playing: Individuals (e.g., in a planning
team)
are assigned to act out opinions and behavior
in
a given situation. This builds understanding of
different perspectives, and helps the ,,play-ers,,
anticipate real-world interactioni.
Roles The behavior that is expected
of people in
standard situations.
Root cause: The underlying reason for a symptom,
problem, or result,
Rural population The, part of the total population
not classified as urban.
Salary Compensation paid periodically to a person
independent of performance (in salis or levels
of
use stimulated.)
Sales Revenue is money generated by a company,s
sales operations, before deductionJ for expenses.
Sample survey A cross sectional study in which the
'is
sample selected to be representative of the
target population and in which the emphasis is
on the generation of summary statistics such as
averages and percentages.
Sample The selection of a subset of elements from a
larger group of objects.
Scanner An electronic device that automatically
reads imprinted codes, as the product is pulled
across the scanner. The library field is
 185

any's successfully using these for circulation and other networking into the recruiting process as a

use counts. means to attract and evaluate candidates.

t. An Scenario Planning involves testing business Sourcing: The developing of lists of potential
, buy strategies against a series of alternative futures. candidates. Also relates to the task of
the requisitioning, or creating job descriptions,
rnies Scenarlo: An account or story about what may approval workflows and actual job postings.
happen (actions) in a particular set of
Most e-recruitment software providers include
'
circumstances (possible environment). modules for requisitioning.
tion.
ts to Secondary shopping district: A cluster of stores
Staffing: A method of finding, evaluating, and
the outside the central business district that serves a establishing a working relationship with future
nies large population within a section or part of a large employees. They may be current employees or
city. future employees.
isa Self service The type of operation in which the Strategic HRM: Aligning human resource
lis ' customer/user i, , exposed to merchandise management (HRM) with the strategic goals of
:age (browsing and self-selection) without assistance, an organization.
unless customer/user seeks assistance.
Strategic Planning: The process of considenng an
r. It Self-concept The ideas, attitudes, and perceptions organization's future, usually three to five years
people have about themselves'
, its . ahead, and then working backward to create
for Selling orientation (Wood): A company-centered strategic plans and allot resources to realize this
ofit rather than a client-centered approach to conduct desired future state. This includes a hiring
SA of business. This' orientation tends to ignore strategy.
what the customer/user really wants and needs' Succession Planning: The process of identifying
rm) Optimization): The process long-range needs and cultivating a supply of
rin - (Search Engine
SEO
internal talent to meet those future needs. Used
of optimizing a web site (e.g., identifying and
of placing targeted keywords on web pages) to to anticipate the future needs of the organization
)rS " ensure the site places well when queried on and assist in finding, assessing and developing
search engines. It is important for corporate web the human capital necessary to the strategy of
in sites to optimize their visibility on search the organization.
' engines. Summary dismissal: The immediate firing of an
Self-Funded (Self-Insured) Plan: A health care employee, usually due to an act of gross
rID,
insurance program in which employers (usually misconduct.
larger companies) pay the specified health care Suspension: An employee is sent home for a period
on costs of their employees rather than insuring of time, usually without pay, as a disciplinary
them. Self-funded plans may be self- measure.
on administered, or the employer may contract a
third party administrator (TPA) for Service(s) Products such as a bank loan or home
of
administrative services only (ASO). security or library loans, that are intangible or at
least substantially so.
y's Social Media: Internet sites and services that allows
users to generate and exchange content and
Shewhart Cycle Named for Walter Shewhart who
discussed the concept in his 1939 book,
)s.
interact with each other in a variety of ways.
he "Statistical Method From the Viewpoint of
Forums, podcasts, bookmarking, blogs and
he
social networking sites are types of social media. Quality Control", it is the continuous
is improvement cycle of Plan, Do, Check, Act.
These types of interaction can be used for
AS
collaboration, communicat'ion and entertainment. Shopping good Goods and products can be
HR professionals use social media to source classified as convenience, shopping or specialty.
a candidates and create peerrnotworks. A shopping good is one that more time is spent
selecting @rowsing) than a quick convenience
Social Networking: The building of online good. Example, a certain type of mystery book.
ly communities of people who have common
:d interests. Linkedin, Facebook -.and myspace Situation analysis (SWOT) An examination of the
is facilitate these interconnected systems. HR internal factors of a library to identify strengths
departments have" begun to,.incorporate social
 186
and weaknesses, and the
external environment
-^" to
identify opportunitie, Steering cornmitteq A
,rd til;;. provide information ana
group of advisors who
Slogan: The verbal or written portion of an Ievel.
aavice ail,
advertising message that "*".otir"
summa.riz"s th" *rin
idea ttl:iiil:::]n;r'.1::' * I avou t or th e s tore/ri brary
SME: Small and Medium_sized r
Enterprises or SMEs ro provide _#r#,""sa:::.,Jrri:1".
are companies whose headcount or turnover :"J;
falls attractive display. Retail
below certain Iimits. store f"y*r, is also
Strategic market
Strategic Inllection point
occurs when a company,s
pfun"l1s The planning process
that yields deiisions in
competitive position goes h*ow , U,i*ir"r, uni,
throujha lransition. lt
is the point at whichihe Strategy is.the plan you
*grri?"r""
the path it is on adapting must alter develop to help you achieve
your vision. It
itself to the new
situation _ or risk-_ organization,,,"In#il'o;i ;J;':ffi:
sdt
concerned with how com-panies
;r;;-o^""i,n". r, i,
and environmenrai f";;;;r, ^ :1,#:i
,"-.o'gnir" una
rvwvi especially
adapt to "paradigm changes';"'-u competitors, that can impact
you.
Social advertising The advertising Strategy: (in planning) A
educarion or motivare designed to broad course of action,
underrake socially desirable
;*;" r,iji"n"". ro
chosen from among atternativei
io* attempt to
ac.tiorJ-*" achieve a stated goai.
Social class A status hierarchy by which S,.""1^{h.
individuals are classifiei groups and
iliil ;;;iJif .rt"". {. c_omnany,s
' .does well. strengrhs are the things
It may have , d;;r;;; _i.t"t it
and prestige. or have a low iurnover rate, ,hr."
etc. Strengths are
Social impact assessment: atso part of a SWor
Analysis of how ,r;rr;i.,;""J#reviation
different elements of a populati",
for srengths, weaknerr;;i-;;;;uii,i"r,.
g.i, or lose ---"' vyyvrlurrll una
threats.
of a policy,
,o::lr:"assessment program, or projecr. Social
lmpact strike_ price. is the price
pays particular attention
to
at which the horder of a
the interests of the poor, stock option may purchase
ethnic minorities, and the stock.
women. Subculture The segmenti
within a culture that share
Social indicator The data distinguishing "
and information that meanings,r"r, ,rj'"
facilitate "uf
the evatuation of how *Lii?i'""i"ry.. subliminal perception A psychorogicar
institution is doing. suggests that attitudes - view that
urO U"f,-uuio.r' U"
Social indicator: Measurement changed by stimuli tf,at "un
of a particular a.e- nJt'lonr"lou.ty
indicator of social welfare perceived.
rn oiJ..iortrack rhe
course of a social issue Survey: Systematic collection
or proUt". ttrough time. of information about a
defined population j often
Sne!11-tf advertising The placement by ;;;;i;rerviews
messages on a wide variety
of advertising of a subsample of the popuirrionl"" "^ "
of items of interest
to the target markets .u"n SWOT is the abbreviatiorr
ur-*i"rlJs, coffee for strengths, weaknesses,
cups, pens, hats, note paper,
rshirts, etc. opportunities, and 'four
Th-ese
factors
Specialty good provide a framework_threats.
A specialty good is one that
which an o.guniJurion
use to conduct a structured
users/consumers w].tf .p"na analysis "un
rlor time iarching operations. of its
for, and rime travellirg .urJ pur'ird. for. A
specialty_good could be a Tactics arg th9 specific actions,
l,^UJiV certain online sequences of actions,
servrce or special collection of materials. and schedules you use to
fulfiil youisirategy. tr ￨
Stakeholder One of a group of publics you have more th
strategy you wilr have
with which a differenr racrics r":Hf
company must be concemed.
Key stakeholders
for a. library could be ur..r, Talent Management: Also called
members, vendors or other
.rnitffir, uoura Human Capital
who have a Management, the process of recruiting,
relationship with the library. managing, assessing, aevetoping
and
maintaining employees.
 187

who rewards: Gifts in the form of The marketing process.

cutive . merchandise, gift certificates, etq. That can be The mean is 56/7=8,
physically held or touched.
The median is 9,
ibrary Administrator (TPA) : An organization
Store that is responsible for the adminisration of The mode is 2
I and r,'insurance for a self-insured group. It does not have
Theory X: Douglas Mcgreagor's Theory X states
) ''any ,erpoosibiliry for payng claims. The self- that some people have an inherent dislike for
insured group is financially responsible. (See self- work and will avoid it whenever. These people
OCESS
insured group) need to be controlled and coerced by their
Remuneration: An employee's complete managers to achieve production. See Theory Y
rieve
fannual pay package, including benefit and
for the opposite.
your
ernal
pension plans, bonuses, incentives, and Theory Y: Douglas Mcgreagor's Theory Y states
:ially paychecks. that some people see work as natural will be
and development: Providing information self-directing if they are committed to the
and instruction that equips employees to better objectives. The manager's role with these people
tion, achieve their potential'
perform specific tasks or affain a higher level of is to help them See
)t to Theory X for the oPPosite.
knowledge.

faining Needs Analysis: An assessment to These are widely given out to libr.arians at
;s it I, determine the training needs of a group of professional conferences from vendors' Libraries
lare
may use these items as well, but afe usually sold
are , employees, taking into account the employees'
j; prior education and skills and the desiied in library gift shops.
tion
and "..
outcorne once training is completed. Threats: A company's threats are the dangers it
nover: The number of employees lost and faces, either from within or from outside'
gained over a given time Period. Threats can be things like a new low-cost
'fa
market identification The process of using
. competitor, possible new government
regulations, etc. Threats are also part of a SWOT
are income, demographic, and life style analysis, the abbreviation for strengths,
characteristics of a market and 'census weaknesses, opportunitie's' and threats.
infonnation for small areas to identify the most
ｔ
ｌ
ａｂ

favorable locations. Thumbnail A rough sketch for a layout for a piece

ｅゥ

of print advertising.
arget market The particular segment of a total
population on which the retailer focuses its To recognize in library communities that
merchandising expertise to satisfy that sub may serve a disproportionate number, whose
ta market in order to accomplish its profit information needs may be nontraditional and
VS objectives. Or for the library, a target market unique.
' might be within the market area served, children Top Line refers to the top line of an Income
)S, 5-8 years old, for surnmer reading programs, to line shows the Total Sales
Statement. The top
rS , increasejuvenile use and registration, Revenue. When a company goal is to increase
tn ,Target population: The persons, households, the top line, it means to coqcenfrate on
IS organizations, and communities to be reached increasing grgss sales.
-with your interventions (policies, programs, Top-down process: (in planning) To transmit
ゝ 一

projects). decisions and controls from the high levels of an

Ｌ  ｅ

,Ieam: A group of people working together
common purpose, e.g., a planning team.
,Technolory The purposeful application of scientific
1
knowledge; an environmental force that consists
of inventions and innovations from applied
1 ' scientific and engineering research, telephone
' interview A telephone conversation between a
representative of the research organization, the
interviewer, and a respondent or interviewee.
for a organization to its lower levels.
Transfer of functions: The handover of some
planning and management powers from
govemments to non-governmental organizations'
Transportation A marketing function thdt adds time
and place utility to the product by moving it
from where it is made to where it is purchased

and used. In includes all intermediate steps in the
process.
Underdeveloped country Characteristics: small
factories erected to supply batteries, tires,
footwear, clothing, building materials and
packaged foods; agricultural activity declines
and degree of urbanization increases; available
educational effort expands and literacy rises.
Underprivileged family A family in social class that
does not have enough money to purchase the
necessities, i.e., shelter, clothing
transportation, appropriate for its class status.
Underwriter: A person or organization that ensures
money will be available to pay for losses that are
insured. An insurance company can be
considered an underwriter
Union: Workers who organize a united group,
usually related to the kind of work they do, to
collectively bargain for better work conditions,
pay or benefit incregses, etc.
Unjustifiable dismissal: Firing an employee in a
way that the courts do not find justifiable (i.e.
Unfairly or in violation of the employment
contract).
Unit control The control of stock in terms of
i
merchandise units rather than terms of dollar
value. This is representative of a the number of
books, magazines, etc of a library collection.
Urban population Persons living in places of 2,500
or more inhabitants incorporated as cities,
villages, boroughs, or areas designated as such
by the US Census, with some exceptions.
Utility The state or quality of being useful. What is
the utility of marketing practices to the library
field?
VALS (values and lifestyles) An acronym standing
for values and life styles. VALS is a
psychographic segmentation approach developed
at Stanford Research Institute International. This
data is useful to public and private sectoi.
Unfortunately, the data is still largely expensive,
therefore, libraries and other non-profits still
widely rely on demographics.
Value: The power of any good to command other
goods in peaceful and voluntary exchange.
Values: The beliefs about the important life goals
that consumers are trying to achieve. The
important enduring ideals or beliefs that guide
188
behavior within a culture or for a spec
person.
Variable Costs are expenses that vary based
production volumes. They include
labor, production utilities, etc.
Variety: The number of different classifications
goods carried in a particular merchandising unifr
How many different children's authors
represented in the juvenile collection?
and
Vest / Vesting To give someone control over t
stock or stock options.
When employees are given stock options
restricted stock, they often do not gain
over the stock or options for a period of ti
This period is known as the vesting period and
usually 3 to 5 years. During the vesting
the employee cannot sell or transfer the stock
options.
Vicarious learning The changes in an indiv
behavior brought about by observing the acti
of others and the consequences of those acti
Research indicates that immigrani adglts
認柵庶辮 瑠 盤Ч
t蹴 ∬
m嗜
Viral Marketing: Any marketing technique
induces people (or web sites) to pass on
marketing message to other people or si
creating a growth in the message's visibility r
effect. A classic example of this concept
Hotmail whereby each email sent via Hot
included Hotmail's own advertisement in
footer. l
Virtual HR: The use of various types of technology
to provide employees with self-serve optionsi
Voice response systems, employee kipsks
common methods.
Voluntary Benefits: Benefits that are paid for by
employee through payroll deductions.
employer pays for administration. Examples
these benefits include life insurance,
vision, disability income, auto insurance, lon
term care coverage, medical supplement plandr
and homeowners insurance. l
Vision A guiding therm that articulatcs the,ature Of
the business/library and its intentions for
future, based upon how management believes
the environment will unfold. A vision is
informed, share, competitive and enabling. I
Vision Your organizationゝ Vidon is the over― 五 中崚
pHnciple that guidcs the ottahiZation.It dein蝿
 189

,i what you want the organization to be' The vision

Workroom A service department such as apparel
alterations, drapery manufacture, library
,.,, is often the dream of the founder or leader'
materials Processing.
iVage drift: The difference between basic
pay and
earnings, due to a variety ofpossible factors XML and HR')OVIL: Extensible Markup Language'
, io,ut ' A common system used for defining data'
,i *o"t as oiertime, bonuses, gender' age and
Unlike HTML, XML is not a fixed set of
,:,. performance.
elements. XML allows information creators to
ications
iising 「 噛tll blower:An cmp10yce whO publiCly revealS apply descriptive markup (or "tags") around each

I淵翼 轟電 し撃洩 疑
rthors aisciete element of data. The HR-XML
“ InЪ 10ギ teギ Consortium strives to spare employers and
ね1 悪II詰6n byぬ c ProtCtCd Disc10sures Act of vendors the risk and expense of having to
2000. negotiate and agree upon data interchange
mechanisms on an ad-hoc basis' By using XML'
ptlons the Consortium provides the means tbt' any
lln con company to transact with other companies
d of til
without having to establish, engineer, and
Hod and implement many separate interchange
greatrinlmem atW° よ 狙 d at holne.
mechanisms.
ing pe :‐

e stock Z,IP code A geographical classification system

developed Uy tfre U.S. government for mail
ndiヤ id distibution, a nested numeric range of 5 to 9
hc act numbers.
le actil

ults
it thi

lool.

lquc
ass on
or sl
bility a
cept was
Hotmail
rt in

Wan“ The wヽ hCこ nceds,cra宙 ngs,demandS Or

chnology desires of hulnan beings.
options:
osks are

or by the
ns. The
mples of
, dental, . OpportuniticS,and thrCats.
:e, long-
nt plans ■ealth The aggregate of an possessions of
econoIIllC g00d Owned by a persOn.
SerS m
‐ ぶ城:T寵 悧 露雲l∬ 洲TrSた
°
lature of W十
for

ず幡1撼縣Iヽ夢
the
beiieves
sion is
o
b'

:r-riding
defines