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A "Dairy Farm" View of Management, I

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A "dairy farm" view of management, i.e., contented cows give more milk, so satisfied workers will give more work was espoused by:


Definitions:

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To settle a trade or transaction by exchanging financial instruments or the legal process of resolving a dispute.

Zero Balance Accounts

Bank accounts that are maintained at a zero balance by automatically transferring funds from a master account in an exact amount only when checks are presented.

Payroll Account

A bank account specifically used by businesses to process salary payments to their employees.

Safety Stock

Additional inventory kept to prevent stockouts due to variability in demand or supply lead time.

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