1. A past outlay or loss that cannot be altered by current or future actions. 2. A cost that has already been incurred and cannot be recovered. Differs from future costs, such as decisions about inventory purchase costs or product pricing. they are excluded from future decisions because the cost will be the same regardless of the outcome of a decision.
glossary
1. A relationship or affinity between persons or things in which whatever affects one correspondingly affects the other. 2. The act of or capacity for sharing or understanding the feelings of another person. 3. Agreement with or support for an opinion or position. 4. A feeling or expression of pity or of sorrow for the distress of another. 5. An emotion that an individual uses when immobilized to enlist help from others. 6. An emotional state similar to grief or apathy.
1. A formal meeting held for the discussion of a particular subject and during which individuals may make presentations. 2. A collection of writings on a particular topic, as in a magazine. 3. A convivial meeting for drinking, music, and intellectual discussion among the ancient Greeks.
1. The interaction of two or more agents or forces so that their combined effect is greater than the sum of their individual effects. 3. The potential ability of individual organizations or groups to be more successful or productive as a result of a merger. 4. Cooperative interaction between partners in a relationship that creates an enhanced combined result that is greater than the sum of their individual results.
1. A complex whole’ set of connected things or parts; organized body of material or immaterial. 2. A network of interdependent components that work together to accomplish the aim of the system. 3. The performance of the whole results from the interaction of the parts, not from the sum of the parts. 4. Things need to come together in harmony, not each part doing its best, an orchestra is a good example.