The term 'thrifty management' can be summarized as the practice of managing resources in an economical and cost-effective manner. This involves making wise decisions about how to allocate resources, such as money, time, and personnel, in order to maximize efficiency and minimize waste. The crossword solution for this term is 'ECONOMY, ' which refers to the careful use of resources in order to save money. Thrifty management is a key component of any successful business, as it helps to ensure that resources are used in the most efficient way possible.