L - Definitions
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L
labor arbitrage
Labor arbitrage is the practice of searching for and then using the lowest-cost workforce to produce products or goods.
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leadership
Leadership is the ability of an individual or a group of people to influence and guide followers or members of an organization, society or team.
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leadership skills
Leadership skills are the strengths and abilities individuals demonstrate that help to oversee processes, guide initiatives and steer their employees toward the achievement of goals.
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lean management
Lean management is an approach to managing an organization that supports the concept of continuous improvement, a long-term approach to work that systematically seeks to achieve small, incremental changes in processes in order to improve efficiency and quality.
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Lean Six Sigma
Lean Six Sigma is a data-driven approach to improving efficiency, customer satisfaction and profits.
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Lean startup
Lean startup is an approach to building new businesses based on the belief that entrepreneurs must investigate, experiment, test and iterate as they develop products.
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learning management system (LMS)
A learning management system is a software application or web-based technology used to plan, implement and assess a specific learning process.
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ledger database
A ledger database is somewhat modern and commonly refers to a type of database that uses cryptographic techniques, including blockchain, to secure data and enable an immutable ledger.
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LOB (line of business)
An LOB (line-of-business) application is one of the set of critical computer applications that are vital to running an enterprise, such as accounting, supply chain management, and resource planning applications.
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localization
Localization is the process of adapting and customizing a product to meet the needs of a specific market, as identified by its language, culture, expectations, local standards and legal requirements.