The complete overhaul of a key business process with the objective of achieving a quantum jump in performance measures such as return on investment, cost reduction and quality of service. Business processes that can be redesigned encompass the complete range of critical processes, from manufacturing and production, to sales and customer service. Also known as business process reengineering. Two criticisms of business process redesign are - (1) it may entail a large number of job redundancies or layoffs, and (2) it assumes that faulty business processes are the main reason for the company's poor performance, when other factors may also be responsible for under-performance.
A market or limit order that gives the broker or floor trader both time and price discretion to attempt to get the best possible price. A person placing a not-held order exhibits great faith that the floor trader will be able to attain a better price than the current one. Although the floor trader has price and time discretion, he or she cannot be responsible for any losses that the shareholder may suffer as a result of this type of order. Often this type of order is applied to international equities to the fact that shareholders trust the trader's judgment more than they trust their own.
The Bank of England is the central bank for the United Kingdom. It has a wide range of responsibilities, similar to those of most central banks around the world. For example, it acts as the government's bank and the lender of last resort, it issues currency and, most importantly, it oversees monetary policy. |||Sometimes known as "the Old Lady of Threadneedle Street", the BoE is the UK's equivalent of the Federal Reserve in the United States. One interesting fact about the BoE is that it has been responsible for setting the UK's official interest rate only since 1997.
Any currency that can have its exchange rate affected by the intervention of a central bank. This is opposed to a currency that is determined solely by the forces of supply and demand in the world market. Virtually no currencies truly fall into this latter category. |||The majority of major world currencies are managed at least to some degree. This is due to the purchase and sale of these currencies by the central banks of different countries.They do this in order to stabilize the markets and affect their own monetary policies.
The rate at which a new company uses up its venture capital to finance overhead before generating positive cash flow from operations. In other words, it's a measure of negative cash flow. Burn rate is usually quoted in terms of cash spent per month. For example, a burn rate of 1 million would mean the company is spending 1 million per month. When the burn rate begins to exceed forecasts, or revenue fails to meet expectations, the usual recourse is to reduce the burn rate (which, in most companies, means reducing staff).
The publishing arm of the American Bankers Association, a trade association and lobbying group representing the US banking industry. The BMA publishes periodic newsletters on the subject of marketing financial services. Also known as the ABA Marketing Network. |||The BMA produces many publications that address issues relevant to the banking industry, such as compliance, new regulations, customer retention and earnings growth. It also provides services and networking opportunities for members, and recommends reference and promotional materials.
A type of loan that uses an investment portfolio as loan collateral and the proceeds of which can not be used to purchase, carry or trade securities. This type of loan allows investors access to funds without having to sell their investments. Regulations require financial institutions to disclose whether a loan is a non-purpose or purpose loan, and borrowers are required to indicate the purpose of the loan. With a non-purpose loan, investors continue to receive the benefits of their portfolio holdings, such as dividends, interest and appreciation. If the value of the pledged securities declines, however, the lender may require that additional securities be put up as collateral or that part of the loan be repaid to make up for the decrease in collateral. This type of borrowing is considered an alternative to traditional margin borrowing because it allows multiple investment accounts to be used to secure a loan.
The four forex pairs which are considered to be the most heavily traded in the forex market. The four major pairs are: EUR/USD, USD/JPY, GBP/USD, USD/CHF. |||These currency pairs are considered by many to drive the global forex market and are the most heavily traded. Although it is widely regarded that the major pairs consist of only four pairs, some believe that the USD/CAD and USD/AUD pairs should also be regarded as majors. However, these two pairs can be found in the group of pairs known as the "commodity pairs".
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