â¢ Teamwork at all levels is seen as key to improving processes and services. â¢ Quality management and improvement training are provided at all levels of the organization. â¢ Accountability for quality and productivity improvement is tied to managers' performance evaluations.
DEFINITION of 'Senior Debt'. Borrowed money that a company must repay first if it goes out of business. Companies have a number of options for obtaining financing, including bank loans and the issuance of bonds and stocks. Each type of financing has a different priority level in being repaid if the company decides to liquidate. If the company goes under, the holders of each type of financing have different levels of rights to the company's assets.
DEFINITION of 'Intermediate/Medium-Term Debt'. A type of fixed income security with a maturity, or date of principal repayment that is set to occur in the next 3-10 years. Bonds and other fixed income products tend to be classified by maturity date, as it is the most important variable in the yield calculations.