Total quality management (TQM)
Teaches that quality, like everything else, has an intrinsic value and is important to customers. TQM spreads customer orientation throughout the company and empowers employees to fix problems in order to sustain world-class quality of products, services, and processes.
True north
The place you want to get to.
Value chain analysis
An analysis of all of the processes that go into a product.
Vaporware
If you’ve read about a piece of software or hardware but can’t find it for sale anywhere, you might have found a piece of vaporware. Usually, vaporware has been well-advertised for months; however, despite the optimistic marketing, the product isn’t available.
Vertical
A vertical consulting practice is one that off ers a general management consultancy applicable to one industry only (e.g., health care), whereas a horizontal consulting practice (such as HR or IT) focuses on a specifi c discipline applicable to many diff erent industries.
Virtual office/hoteling
Sexy terms for an offi ce setup in which nobody has a personal desk or offi ce. Means you could be hanging out with the clerks at Copymat.
White-space opportunity
A money-making opportunity in an area you aren’t set up to make money in. Think of it as an unbridged gap between what you do and what others do, or an untapped source of growth.
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