Glossary for Business and Management


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1

1.4142

The diagonal (approximate, to four decimal places) of a 1 x 1 square, also known as Pythagoras's Constant, and therefore also the ratio (1:1.4142) for calculating the diagonal side of a right angled triangle in which the two short sides are of equal length.

1.6180

The Golden Number (to four decimal places). Also known as the Golden Section, Divine Proportion, and phi (pronounced 'fy' as in the word 'fly') the twenty first letter of the Greek alphabet. Also loosely referred to as Golden Ratio (1:1.618). Phi is used intentionally or instinctively in many different areas of design, for example architecture, music, and art. Phi is also an easy 'secret' to achieving aesthetically pleasing positioning and proportions. The Golden Ratio is found in diverse designs such as Stradivarius violins, the Pyramids, Notre Dame Cathedral, and in nature, for example the human face.

10:10

A UK environmental campaign that asks businesses, organisations and individuals to cut their carbon emissions by 10% in the year 2010.

13

The most superstitious number, 13 affects business in surprising ways through absenteeism, cancellations, and design. Western airlines, for example, tend not to have seats and rows numbered 13. Friday 13th is a particularly superstitious date. Friday and the number 13 derive their superstitious reputations mostly from Christian beliefs and Norse folklore.

2

21- Gun Salute

Traditional honour given to royalty and heads of state, derived from the old signal of peaceful intent, when multiple firing practically removed capability for immediate threat due to reloading time.

24 hour Society

Refers to a way of life available to many in the modern world in which people can work socialize, shop, bank, etc., 24 hours a day. The phenomenon has caused significant new thinking in business, management, marketing, etc., and continues to do so.

24-Carat/Karat

The purest form of gold (karat is US English spelling, too soft for jewellery, hence gold jewellery is made of 22 carat, 18 carat, or 9 carat gold, etc., in which other metals such as copper are mixed. Carat is a measure of purity in which 24 parts equate (virtually) to 100% gold. 18 carat is therefore 75% gold. Less than 10 carat gold is generally not sold as gold. The carat measure of diamonds is different, for which carat is a measure of weight (1 carat = 200mg).

24/7

Twenty four hours a day, seven days a week.

3

3.14159

Pi, normally represented by the Greek letter pi (P) symbol π. Pi is typically used for calculating the area (π x radius squared) or circumference (π x diameter) of a circle. Pi has an infinite number of decimal places, and fascinates mathematicians in calculating pi itself, and memory experts too in memorizing as much of it as possible.

360 Degree Feedback

An appraisal method typically entailing feedback about a manager given by fellow workers. See appraisals.

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