Glossary

Nature farming is derived from Mokichi Okada’s philosophy of abandoning the use of all chemical fertilizers and pesticides. Nature farming uses only organic matter to enhance the vitality of the soil and enrich its inherent power. Since nature farming does not rely on commercial fertilizers, it was initially called fertilizer-free cultivation. However, the name was later changed to nature farming to make clear that this approach is based on a comprehensive theory of agriculture and an underlying philosophy that views the life-sustaining powers of the soil as integral to the workings of the universe. Both nature farming and organic farming do without using chemical fertilizers and pesticides. However, organic farming allows use of all sorts of organic inputs, while nature farming emphasizes the use of processed organic matter alone to enhance soil vitality.
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See also: Natural farming; Organic farming

Natural farming (also known as Fukuoka farming or the Fukuoka method) refers to a unique small-scale organic farming system that does not require weeding, pesticide or fertilizer applications, or tilling. Masanobu Fukuoka of Japan devoted his life to developing this unique farming system. Fukuoka was a pioneer in no-till grain cultivation. The essence of Fukuoka’s method is to reproduce natural conditions as closely as possible. In natural farming there is no plowing, no weeding, and minimal disturbance of the natural agroecosystem. However, organic farming allows operations such as land cultivation, weeding, etc.
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See also: Nature farming; Organic farming

A national quality award is usually a country’s most prestigious award for enterprises (private or public) in recognition of business excellence and quality management. The framework is usually an integrated performance/result-based approach translated into working guidelines called a performance excellence framework (with operating criteria and core values). Such awards recognize organizations, enterprises, or operating units with a unique mission and objectives. Award systems are designed primarily to serve national interests by improving competitiveness or enabling sustainable economic growth.

Nano refers to measurement to the power of 9 or one-billionth (i.e., 1 × 109). Nanotechnology is a suite of techniques (nanoscience) used to manipulate matter at the scale of atoms and molecules. Nanoscientists are currently exploiting property changes at the nano scale to create new materials and modify existing ones. Considered to be the new impetus for radical changes, it could have a profound societal impact on all aspects of socioeconomic development (markets, jobs, competition, competitive advantage, comparative advantage, etc.).

In general, a merger is a combination of two companies to form a new one. Such actions are commonly voluntary and can involve stock swaps or cash payments to the target company. A stock swap is often used as it allows the shareholders of the two companies to share the risk involved in the deal. A merger can resemble a takeover but result in a new company name, which may combine the names of the original companies, and in new branding. In some cases, terming the combination a merger rather than an acquisition is done purely for political or marketing reasons.

Mergers and acquisitions (M&As) are increasingly becoming an important strategy in the corporate world to enhance shareholder value. Often M&As are undertaken by companies for eliminating inefficiencies, expanding their operations into new geographic areas, increasing their productivity and profitability, and for increasing market share. Although not all M&As are successful, in theory it is believed that mergers create synergies and economies of scale by expanding operations, cutting costs, and raising productivity. Companies can benefit from M&As in a number of ways. With greater economy of scale, a combined company can often reduce duplicated departments or operations, lowering the costs of the company relative to the revenue stream and thus increasing productivity and profit. By buying other companies with unique technologies, a large company can maintain or develop a competitive edge. Companies buy other companies to reach new markets and grow revenues and earnings. A merger may expand two companies’ marketing and distribution reach, giving them new sales and growth opportunities. A merger can also improve a company’s standing in the investment community as bigger firms often fare better in raising capital than smaller ones. Finally, assuming that a company will be absorbing a major competitor, it can significantly increase its market power.