consolidation

Vocabulary Word

Definition

'Consolidation' means combining separate things into a single entity. It's like gathering different research papers to form a single comprehensive report.

Examples in Different Contexts

In the realm of nonprofit organizations, 'consolidation' can help in amalgamating resources and efforts for a greater impact. A nonprofit leader might say, 'By consolidating our initiatives, we can optimize resource allocation and expand our outreach.'

Practice Scenarios

Business

Scenario:

Holding multiple small companies requires significant overhead and administrative effort. We might want to rethink our strategy for managing these units.

Response:

I agree with you. Consolidation of our subsidiary companies might lead to better governance and improved profits.

Tech

Scenario:

Our analysts are having a hard time trying to work with data that's spread across different databases. I think it's time we improve our data management system.

Response:

Absolutely! Consolidation of our databases would definitely improve our data management efficiency.