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OPEC (Organization of Petroleum Exporting Countries)

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Definition of OPEC (Organization of Petroleum Exporting Countries)

OPEC (Organization Of Petroleum Exporting Countries) Image 1

OPEC (Organization of Petroleum Exporting Countries)

A cartel of oil-producing countries.



Related Terms:

network organization

a flexible organization structure that
establishes a working relationship among multiple entities,
usually to pursue a single function


OPEC

organization of petroleum exporting countries, a group of oil exporters that brought about the dramatic increases in oil prices during the 1970s.


organization chart

a depiction of the functions, divisions,
and positions of the people/jobs in a company and how
they are related; it also indicates the lines of authority and
responsibility


organizational culture

the set of basic assumptions about
the organization and its goals and ways of doing business;
a system of shared values about what is important and
beliefs about how things get accomplished; it provides a
framework that organizes and directs employee behavior
at work; it describes an organization’s norms in internal
and external, as well as formal and informal, transactions


organizational form

an entity’s legal nature (for example,
sole proprietorship, partnership, corporation)



organizational-level cost

a cost incurred to support the ongoing
facility or operations


organizational structure

the manner in which authority and
responsibility for decision making is distributed in an entity


OPEC (Organization Of Petroleum Exporting Countries) Image 2

Plan for reorganization

A plan for reorganizing a firm during the Chapter 11 bankruptcy process.


Reorganization

Creating a plan to restructure a debtor's business and restore its financial health.


reorganization

Restructuring of financial claims on failing firm to allow it to keep operating.


World Trade Organization (WTO)

the arbiter of global trade that was created in 1995 under the General Agreement on Tariffs and Trade; each signatory country has one
vote in trade disputes



 

 

 

 

 

 

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