THEORY OF CONSTRAINTS Definition

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THEORY OF CONSTRAINTS is a management approach that focuses on identifying and relaxing the constraints that limit an organizations ability to reach a higher level of goal attainment.

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RATIO is the relative size, expressed as the number of times one quantity is contained in another (for example, the ratio of assets to liabilities of a company having total assets of $200,000 and liabilities of $150,000 would be $200,000 divided by $150,000 = 1.33).

TERM LOAN is a bank loan, typically with a floating interest rate, for a specified amount that matures in between one and ten years and requires a specified repayment schedule.

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