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The paperless exchange of business information using electronic data interchange (EDI), e-mail, electronic bulletin boards, fax transmissions, etc.


Earned income tax credit (EITC)

A federal tax credit that provides certain individuals who have a specified number of children in their households and who are earning less than $34,178 per year (in 2002) with a tax credit intended to reduce overall taxable income.


Earnings before interest and taxes (EBIT)

A market comparison approach of valuing a business by multiplying revenue (pre-interest and tax payments) by a multiplier ranging from 4 to 8 and then comparing the results to selling prices and price earnings of other companies in the industry.


Earnings per share (EPS)

A companys net earnings for the past 12 month divided by the present number of shares.


Economic indicator

Statistical data representing a broad range of economic trends.


Economic value added (EVA)

A financial measure used to determine a companys profitability at all levels within the organization.


Economies of scale

A theory that as a company gets larger, its operations and associated unit costs decrease.


Eiffel Tower company culture

A classic bureaucratic corporate culture that is high on task and hierarchical dimensions.


Elasticity of demand

The change, expressed as a percentage, in the quantity of the demand of a certain product divided by the change in the price being charged.


Emergency planning

The process of establishing specific measures or actions to be taken when responding to catastrophic events or tragedies (i.e., fire, earthquake, severe storms, workplace violence, kidnapping, bomb threats, acts of terrorism or other emergency situations) in the workplace.



The intrinsic differences within a culture that are meaningful to that group.


Employee stock ownership plan (ESOP)

A trust, established by a corporation, that operates as a tax qualified defined-contribution retirement plan, but unlike traditional defined contribution plans, employer contributions are invested in the companys stock.


Employee stock purchase plan

An employer-sponsored plan that allows employees to purchase company stock below the fair market value.


Employer of choice

A term used to describe a public or private employer whose practices, policies, benefits and overall work conditions have enabled it to successfully attract and retain talent because employees choose to work there.


Employment branding

A combination of marketing, communication and technology used by an organization with the intention of giving it greater visibility amongst a large population within a short time frame.


Employment cost index

Conducted annually as part of the Department of Labors National Compensation Survey program, the Employment Cost Index measures the relative changes in wages, benefits and bonuses for a specific group of occupations.


Employment practices liability audit

An assessment of an employers current policies and practices to determine potential areas of liability (i.e., discrimination, wrongful discharge and other violations of employee rights) typically conducted by an outside consulting or legal firm.


Employment practices liability insurance (EPLI)

An insurance plan that provides employers with protection against claims of discrimination, wrongful termination, sexual harassment or other employment-related issues made by employees, former employees or potential employees


Endowment fund

Holdings of economic value in the form of money or property owned by a person or business.



Any individual, partnership, corporation, association or other legal entity, union or group of individuals associated in fact, although not a legal entity.


Enterprise resource planning(ERP)

A term that refers to a series of computer applications that help to monitor and manage the operations of an enterprise.


Environmental scanning

A process that systematically surveys and interprets relevant data to identify external opportunities and threats.



The percentage of ownership interests held by a companys stockholders.



A philosophy principle concerned with opinions about appropriate and inappropriate moral conduct or behavior by an individual or social group.



The belief of people in one group that their culture has the best beliefs, values and norms.



Introduced in January of 1999, it is the official monetary component of 12 member nations of the European Union. The intent of introducing the Euro was to make trade more efficient, price comparisons easier and interest rates stabilized.


European union

An economic and political union established in 1993 after the ratification of the Maastricht Treaty by members of the European Community.


Exercise options

Paying money in exchange for stock(s).


Exercise price

The exact price for a call option.


Exit strategy

The process by which business ownership is liquidated by an individual.


Expected return

An estimate of the worth of an investment, including price changes and dividend payments, calculated from a probability distribution curve of all probable rates of return.


Expense budget

There are two types of expense budgets: engineered and discretionary. An engineered expense budget details the labor and materials and estimated overhead costs of producing a product or service. Discretionary budget is used only when outputs cannot be correctly calculated.



Goods or services sold to a foreign country.


External audit

An assessment conducted by an independent external auditor as a means of providing a professional opinion on the accuracy and fairness of a companys financial statements based on generally accepted auditing procedures.


External benchmarking

The process of comparing an organizations current policies and practices to those of a competitor organization(s) to determine current and future trends in areas of employment and business practice (i.e., compensation, benefits, HR practices).



A communication platform using Internet technologies that links the company with external members of the value chain such as vendors, suppliers, dealers and strategic partners.



The reach of the United States laws to other countries beyond its borders

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