Category: O

Founded in 1968 by conservative Arab states intending to generate international economic cooperation among petroleum producing and exporting countries.

The most famous cartel in the world, made up of 12 major producers of petroleum (constituting about 40% of global oil exports). It was created in 1960, to fix crude oil prices and set production quotas.

Study of all aspects of organizations, from structures to management styles.

In old English law. Those of the religious who deserted their houses, and, throwing off the habits, renounced their particular order in eon- tempt of their oath and other obligations. 1’aroeli. Antiq. 38S.

Assessment of organizational hierarchy, policies and procedures, and management systems. The aim is to identify organizational inefficiencies, relative to rival organizations, usually within administrative functions.

Lat. That rule which monks were obliged to observe. Order; regular succession. An order of a court.

Fr. In French law, an ordinance; an order of a court; a compilation or systematized body of law relating to a particular subject-matter, as, commercial law or maritime law. Particularly, a compilation of the law relating to prizes and captures at sea. See Coolidge v. Ingiee, 13 .Mass. 43.

Lat. By word of mouth; orally. Pleading was anciently carried on ore tciius, at the bar of the court 3 Bl. Comm. 203.

A license or right to dig and take ore from land. Ege v. Kille, 84 Pa. 340.

In Saxon law. The price or value of a beast. A payment for a beast The payment or forfeiture of a beast. A penalty for taking away cattle. Spelman.