Management Buyouts

A management buyout occurs when incumbent management takes ownership of a firm by purchasing a sufficient amount of the firm's common stock. These transactions vary due to the conditions under which the firm is offered for sale and the method of financing employed by the managers.

Management Information Systems

Although management information systems (MISs) vary considerably in scope and function, they are all software applications used to support basic business management activities, such as reporting, planning, and controlling. More broadly, the MIS label is also applied to the computer systems that run this software, but strictly speaking an MIS is considered software rather than hardware.

Management Science

Management science is the application of the scientific method to address problems and decisions that arise in the business community and other organizations, such as government and military institutions. This field of study, which is also commonly known as operations research (OR), operates on the understanding that business managers can make informed decisions only when they have access to scientifically acquired knowledge.

Management Succession Planning

Management succession planning is the process of preparing an organization for a transition in leadership. Succession planning is helpful when a management change occurs due to unforeseen circumstances, such as the sudden death of a corporation's chief executive officer (CEO).

Managerial Accounting

Managerial accounting, or management accounting, is a set of practices and techniques aimed at providing managers with financial information to help them make decisions and maintain effective control over corporate resources.

Managerial Economics

Decisions made by managers are crucial to the success or failure of a business. Roles played by business managers are becoming increasingly more challenging as complexity in the business world grows.

Managing Machismo: U.S. Women vs. Foreign Men Abroad

Most Americans perceive macho behavior as a problem, but only as a "woman's problem." It occurs when men act in such fashion as to magnify their roles so as to diminish the roles of women. When U.S.

Manufacturers' Representatives

Manufacturers' representatives are independent contractors who develop long-term relationships with their client companies (or "principals") to sell the latter's products. They do not function under the immediate supervision of the manufacturers they sell for; therefore the relationship is not like that between a boss and employee, but is a business-to-business relationship.

Market Research

Market research is the process of gathering and interpreting information about customers and potential customers. Research is needed because buying behaviors are sometimes difficult to predict or explain.

Market Segmentation

Market segmentation is the process of identifying key groups or segments within the general market that share specific characteristics and consumer habits. Once the market is broken into segments, companies can develop advertising programs for each segment, focus advertising on one or two segments or niches, or develop new products to appeal to one or more of the segments.

Market Value

Market value is the concept of how much something—a business, a piece of property, or anything of value—is presently worth under relatively free conditions of exchange. For tax and legal purposes, the standard definition of market value, or so-called fair market value (FMV), was articulated in the IRS Revenue Ruling 59-60, where it is equated with the price paid for a given property under the construct of a willing buyer and willing seller, both with full knowledge of pertinent facts, and neither being under a compulsion to act.


Marketing is a very general term that refers to the commercial functions involved in transferring goods and services from a producer to a consumer. It is commonly associated with endeavors such as branding, selling, and advertising, but it also encompasses activities and processes related to production, product development, distribution, and many other functions.

Marketing Strategy

While all marketers do not agree on a common definition of marketing strategy, the term generally refers to a company plan that allocates resources in ways to generate profits by positioning products or services and targeting specific consumer groups. Marketing strategy focuses on long-term company objectives and involves planning marketing programs so that they help a company realize its goals.

Matching Concept

The matching concept is an accounting principle that requires the identification and recording of expenses associated with revenue earned and recognized during the same accounting period. Accordingly, under the matching concept the expenses of a particular accounting period are the costs of the assets used to earn the revenue that is recognized in that period.

Matrix Management and Structure

Matrix management is a technique of managing an organization (or, more commonly, part of an organization) through a series of dual-reporting relationships instead of a more traditional linear management structure. In contrast to most other organizational structures, which arrange managers and employees by function or product, matrix management combines functional and product departments in a dual authority system.


MaxiMarketing is set of marketing strategies developed by Stan Rapp and Thomas L. Collins in their 1987 book MaxiMarketing: The New Direction in Advertising, Promotion, and Marketing Strategy.


Mercantilism is a political and economic system that arose in the 17th and 18th centuries. It purports that a country's economic strength is directly related to the maintenance of a positive balance of trade.


Merchandising is a branch of marketing theory and practice concerned with maximizing product sales by designing, packaging, pricing, and displaying goods in a way that stimulates higher sales volume. The underlying assumption in merchandising is that consumers may have a general need for (or interest in) a certain class of product, and it is the merchandiser's task to present the product in a way that best captures consumers' attention and persuades them that the product will fulfill their needs and wants.


Mercosur is a customs union coordinating the economies of Argentina, Brazil, Paraguay, and Uruguay. Mercosur (in Portuguese, Mercosul) resulted from the 1991 Treaty of Asunci6n, and began taking effect on January 1, 1995.

Mergers and Acquisitions

In general, mergers and other types of acquisitions are performed in the hopes of realizing an economic gain. For such a transaction to be justified, the two firms involved must be worth more together than they were apart.

Metrics and Measurement

Metrics and measurement is comprised of two major bodies of knowledge, both studying the quantitative assessment of performance using test statistics. The first area includes the test measurement (primarily education-oriented), opinion survey, and market research survey industries.

Metropolitan Statistical Area (MSA)

Metropolitan Statistical Area (MSA) is a designation the U.S. government uses to refer to a region that, broadly speaking, consists of a city and its suburbs, plus any surrounding communities that are closely linked to the city economically and socially.

Mexican Law

As a result of the North American Free Trade Agreement (NAFTA) that took effect on January 1, 1994, U.S. businesspeople began trading with Mexico's businesspeople, investing in business opportunities in Mexico, and establishing business facilities in Mexico in unprecedented numbers and ways.

Mexico, Doing Business in

Mexico is, after Brazil, the second-largest economy in Latin America. At its high point, at the time the Canadian prime minister and the U.S.

Microcomputers in Business

Commonly known as desktop computers or personal computers (PCs), microcomputers provide decentralized computing power for a wide number of business functions, especially those involving individual productivity tasks. The category "microcomputer," though somewhat of an anachronism now, distinguishes these machines from the traditionally larger, more powerful mainframes and minicomputers (also called midrange computers) that dominated business computing before the 1980s.


Microeconomics, or price theory, covers the economic activity of individual consumers or producers or groups of consumers and producers, and the markets in which they interact. Therefore, microeconomics is the study of buyers, sellers, prices, profits, and wages.

Minority-Owned Businesses

Businesses owned by women and minorities in the United States represent a significant and rising percentage of all business enterprises. Estimates from the Census Bureau's Economic Census, which is conducted every five years, reckoned women's and minorities' share of U.S.

Mixed Economy

The "mixture" in a mixed economy is one of private enterprise and public-sector controls and supports, of capitalism and socialism. That is to say, most economies that we think of as being "capitalist" are in fact mixed economies, including that of the United States.