the state or condition of having little or no money, goods, or means of support; condition of being poor. Synonyms: privation, neediness, destitution, indigence, pauperism, penury. Antonyms: riches, wealth, plenty.
Part of the Business terms glossary: An action plan is a document that lists what steps must be taken in order to achieve a specific goal. The purpose of an action plan is to clarify what resources are required to reach the goal, formulate a timeline for when specific tasks need to be completed and determine what resources are required.
A corrective action plan is an organizational document that describes exactly how a specific problematic situation will be changed to better meet the goals of a company. The corrective action plan needs to include a clear statement of the problem as well as a statement of the desired outcome.or example, a company's auditors may have found discrepancies in an inventory figures stated in the financial statements. In this situation, the problem identified is poor inventory tracking, and the corrective action plan will state how this situation will be corrected.