Renaissance for LEADERS

Peak Performance Resources for Leaders by Leaders

glossary

Sunk Cost

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.

Supplier

The preceding person in the business flow who delivers an input of product, service or information to the next person (customer) in the flow.

Suppress

1. To put an end to forcibly; subdue; crush. 2. To curtail or prohibit the activities of. 3. To hold back; to check. 4. To prevent or inhibit (a memory, feeling, process or reaction.)

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