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Peter principle (M1)<br />The hypothesis that in a hierarchical organization each person rises to the level of his or her incompetence and stays there. Poor information within INTERNAL LABOUR MARKETs is largely responsible for this. Professor Lawrence J. Peter (1920-90) of the University of Southern California sadly formulated this principle after extensively studying many organizations.<br /> <br /><em>Reference</em><br />Peter, L. and Hull, R. (1969) The Peter Principle: Why Things Always Go Wrong, London: Souvenir Press.
<strong>HEA</strong> – the Higher Education Act of 1965, as amended, which created the federal student aid programs.
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sponsor demand (DO)<br />A demand for a good or service paid for by a person other than the consumer, e.g. the commercial financing of sporting events.<br /><em>See also:</em> market demand; option demand
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