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Outcome measures

A set of lagging indicators (results measurements) is used to determine whether strategic objectives are satisfied.

Open-ended question

Questions that have no answer categories.

Outsourcing

The process of contracting with another company or person to do a particular function. Encompasses anything not done with in-house labor.

Operating budget

A short-term budget projecting all estimated income and expenses during a given period (usually one year). Excludes capital expenditures because they are […]

Opportunity costs

Represent “lost” opportunities (measured in monetary units) that could have accrued to the entity by pursuing an alternate course of action.

Operating profit margin

The net sales less cost of goods sold and selling, general and administrative expenses.

Output-based specifications

Notes what service is required, but not how it should be provided. The focus is on what the deliverables are in business […]