Economizations

Part of speech: noun

Definitions

1. The process of implementing cost-saving measures within an organization
2. The act of reducing expenses through strategic management of resources
3. Techniques designed to increase efficiency by minimizing waste in financial practices

Etymology: "Economizations" is simply the plural of "economization," a noun formed in English from "economize" plus the suffix "-ation." The suffix comes down through Old French and Latin, where "-ātiō" turned an action into the name of that action, so "economization" names the act of economizing. "Economize" itself is built from "economy" with the suffix "-ize," which entered English through Middle French and Late Latin from Ancient Greek "-izein," a suffix for making or doing something. The root "economy" traces back to Ancient Greek "oikonomia," meaning household management, from "oikos" (house) and "nomos" (law or custom). So a thrifty household budget sits at the heart of the word, and "economizations" carries that idea of careful management into the cutting of spending.

Synonyms: savings, reductions, cutbacks, efficiencies, frugality