A

Abandonment. The intentional desertion of

property by owning or leasing entity without
making provision for transferring the ownership
or use to another.

Agreement. A mutual assent between

individuals, companies, or countries such as in
a legally enforceable between competent
parties.

Absolute advantage. Ability to produce a good

with fewer resources per unit or at lower cost
than that of a countrys trading partner.

AMS. Stands for Agricultural Marketing

Service. AMS is a service of United States
government to assure foreign purchasers of
United States goods that they satisfy quality
standards and contractual commitments.

Absolute quota. A ceiling used by a government

on the number of general or specific imported
products from one or more countries for a
designated time period.
Abuses. Economic injuries intentionally
perpetrated be one company over another as a
result of a trade agreement.
Acceptance. A binding contract effected when
one party to a business agreement accepts the
offer of the other.
Accession. The act of becoming a participant in
a multinational agreement and as a result
assenting to, agreeing to, and abiding by the
contractual terms upon which the association is
based.
Advertising. The promotion of a companys
product or services to stimulate demand.

Aleatory Contract. The performance of one

party to a contract depends on some contingent
occurrence.
Alienation. The problem in modern industrial
societies
that
some
workers
became
disenchanted with their jobs due to boredom,
lack of incentive, lack of motivation, etc.
All In. A common carrier commonly quotes a
price that incorporates all cargo costs and
related charges.
Altruism. It is often alleged that altruism is
inconsistent with economic rationality, which
assumes that people behave selfishly.
Amortization. The running down or
payment of a loan by instalments.

Affidavit. A written swearing as a matter or set

of facts before a notary public or other duly
authorized individual.

Appreciation. An increase in the worth of real

or financial assets over a specified time period.

Affiliate. A partly or fully owned unit of a

multinational company.

Arbitrage. The purchase and sale of the

identical security or commodity at the same time
in different markets.

Affreightment. A contractual agreement

between a multinational company and carrier to
ship products overseas or domestically.
Agent. Is an individual who is authorized to
transact business for a person (the principal) on
behalf of another (third party).

Arbitrageur. An individual or business that

practices arbitrage.
Ascribed Group. A membership in an
organization affiliation based on a cultural
classification such as age, sexual preference, or
religion.

Asymmetric shock. When something

unexpected happens that affects one
economy (or part of an economy)
more than the rest.
Autarky. A self-sufficient economy in which a
country reduces as much as possible its
importation of products and services.
Authority. Having the power or right to
command and direct.

Barrier to trade. Also trade barrier n plural

barriers to trade. Something that makes trade
between two countries more difficult or
expensive, for example a tax on imports
Barter Economy. Is a cashless
economic system in which services
and goods are traded at negotiated
rates.
Baseline. Is a known state by which
something is measured or compared.

Average. A number that is calculated

to summarize a group of numbers.

B
BAA. Stands for Business Agency
Announcement. Is a notice from the
government that requests scientific or
research proposals from private firms
concerning certain areas of interest to
the government.
BA. Stands for Business Analytics. It
is the practice of iterative, methodical
exploration of an organizations data
with emphasis on statistical analysis.
Business
analytics
is
used
by
companies committed to data-driven
decision making.
BAM. Stands for Business Activity
Monitoring. Also called business
activity management, is the use of
technology to proactively define and
analyze critical opportunities and risks
in
an
enterprise
to
maximize
profitability and optimize efficiency.

BCDR. Stands for Business Continuity

and Disaster Recovery. Closely
related practices that describe an
organization's
preparation
for
unforeseen
risks
to
continued
operations. Specific
financial
institution.
Benchmark. (1)Something that can be used as
a comparison to judge or measure other things.

(2) Good performance in a particular activity in

one company that can be used as a standard to
judge the same activity in other companies
benchmark v. benchmarking.
Benefits Package. The total amount of pay and
all the other advantages that an employee may
receive such as bonuses, health insurance, a
company car etc.
Bid. (1) An offer to buy something, for example
a company in a takeover, or the price offered.
Blueprint. A plan for achieving or improving
something.
BOL. Beginning of life in the context of
manufacturing and product lifecycles,
is the first stages of a products
existence.

Bottom Line. Refers to the bottom line of

an Income Statement. The bottom line shows the
Net Income Available to shareholders.
Branded. Branded goods or products have
brand names.
Brand leader. The brand with the most sales in
a particular market.
Brand loyalty. It is the degree to which people
buy a particular brand and refuse to change to
other brands.
Brand stretching. When a company starts to
use an existing brand name on a different type
of product, hoping that people will buy it
because they recognize the name
Bribe. Money that is paid secretly and
dishonestly to obtain someones help
Bribery. Dishonestly giving money to someone
to persuade them to do something to help you.

Bonus. An extra amount of money added to an

employees wages, usually as a reward for doing
difficult work or for doing their work well

Broker. A person or organization whose job is

to buy and sell shares, currencies, property,
insurance etc for other.

Boom. A time when business activity increases

rapidly, so that the demand for goods increases,
prices and wages go up, and unemployment falls

Buyout. Also buy-out. (1)The act of buying a

business (2) the act of buying all the shares in a
company of a particular shareholder.

C
Cash flow. The amounts of money
coming into and going out of a company, and
the timing of these profit for a particular period,
defined in different ways by different businesses

Cash generation. Money that a company gets

from sales after costs are taken away. Cash
generation is often used in talking about the
degree to which the company is able to do this
CGS. Stands for Cost of Goods Sold. Are the
costs directly related to the purchase or
production of whatever the company sells.
Chair. The position of being the chairman of a
company or organization or the person who is
chairman

Common stock. The type of stock that is

present
at
every
corporation.
(Some
corporations have preferred stock in addition to
their common stock.) Shares of common stock
provide evidence of ownership in a corporation.
Chief Executive Officer. Usually the manager
with the most authority in the day to day
management of a company, especially in the US.
The job of CEO is sometimes combined with
others, such as that of president
Clock in/on. To record on a special card or
computer the time you arrive at or begin work
Clock off/out. To record on a special card or
computer the time you stop or leave work
CLM. Stands for Career Limiting Move
When someone makes a mistake or takes an
action that is going to seriously harm their
chances for promotion.
Collapse. If a company, organization, or system
collapses, it suddenly fails or becomes too weak
to continue.
Commission. An amount of money paid to
someone according to the value of goods,
services, investments etc. they have sold.
Compensation. (1) An amount paid to someone
because they have been hurt or harmed in some
way (2) The total of pay and benefits for an
employee, especially a high-level manager.
Competitive advantage. Something that helps
you to be better or more successful than others
concept n. an idea for a product, business etc.

Company Culture. It is the term given to the

shared values and practices of the employees.
Note that the actual culture may not match the
published culture.
Conman. Someone who tries to get money from
people by tricking them
Consigned goods. Merchandise that is not
owned by the party in possession of the goods.
Consortium. Combination of several companies
working together for a particular purpose, for
example in order to buy something
or build something
Consumer price index. A government index
that tracks the changes in prices in order to
measure general inflation. This index can be
used by small companies to obtain the benefits
of LIFO without tracking individual units in
inventory.
Controlling interest. The situation where one
shareholder owns enough shares to control a
company
Controlling shareholder. Someone who owns
more than half the shares in a
company
Copycat product. A product that copies a
competitors idea for a product

Copyright. An exclusive right granted by the

federal government to publish and sell various
works. In accounting a copyright is recorded at
its cost and is reported on the balance sheet as
an intangible asset
Core. It is the business, activity, etc that makes
most money for a company and that is
considered to be its most important and central
one
Counterfeit. Made to look
something else, usually illegally

exactly

Defect. A fault or the lack of something that

means that a product etc. is not perfect.
Demerge. If a company or unit demerges from a
group, or if it is demerged, it becomes a
separate company
Deregulate. If a government deregulates a
particular business activity, it allows companies
to operate more freely so as to increase
competition

like

Cross training. It is training someone in

another activity that is related to their current
work. The name comes from the fact that you
are training them across a broader spectrum of
the organization's work.
Crash. (1)A time when many investments lose
their value very quickly, usually when investors
lose confidence in the market and sell
(2) An occasion when a computer or computer
software suddenly and unexpectedly stops
working or fails to work properly.

D
Deceit.
When someone tries to gain an
advantage
for themselves by tricking someone, for example
by making a false statement
Deceive. To make someone believe something
that is not true in order to get what you want
Decline. (1) If an industry or country declines, it
becomes less profitable, productive, wealthy etc.
(2) If sales, output, production etc. decline, they
become less.

Devious. Using dishonest tricks and deceiving

people to get what you want
Differentiation. When a company shows how its
products are different from each other and from
competing products, for example in its
advertising
Direct cost. A cost that can be traced to a cost
object.
Disclosure. The duty of someone in a
professional position to inform customers,
shareholders etc. about facts that will influence
their decisions
Dismissal. When someone is removed from their
job by their employer
Dispose. (1) If you dispose of something, you get
rid of it (2) formal if a company disposes of a
particular asset, activity etc., it sells it
Distribution channel. The way a product is
made available and sold, the organizations
involved etc.
Diversify. (1) If a company or economy
diversifies, it increases the range of goods or
services it produces (2) to start to put your
money into different types of investments in
addition to the investments you already have

Divisions. Segments of a business.

Down-market. Involving goods and services
that are cheap and perhaps not of very good
quality compared to others of the same type, or
the people that buy them
Dress code. The way that you are expected to
dress in a particular situation, as an employee
of a particular company etc.
Drive. Someones energy, motivation, and
ability to work hard. An effort to improve or
increase the level of something
Drop. (1) To fall to a lower level or amount
(2) To stop doing or planning something
Drop away/off. To become lower in level or
amount
Dumping. The activity of selling products in an
export market cheaper than in the home market,
or cheaper than they cost to make, usually in
order to increase market share

Economy drive. A planned effort by an

organization to reduce costs
Endorse. If someone, usually famous, endorses
a product, they say how good it is in
advertisements. People will buy the product
because they like or trust the person
Ergonomics The study of workplace design
and the physical and psychological impact it has
on workers. Ergonomics is about the fit between
people, their work activities, equipment, work
systems, and environment to ensure that
workplaces are safe, comfortable, efficient, and
that productivity is not compromised.
Ethical. Connected with principles of what is
right and wrong
Ethics. It is a moral rules or principles of
behavior that should guide members of a
profession or organization and make them deal
honestly and fairly with each other
and with their customers
Etiquette. The formal rules for polite behavior

Excise Duty A tax on goods such as alcohol

or tobacco produced and sold within a
particular country.

eCommerce comes from the phrase

Electronic Commerce, which basically means
selling things over the Internet. It refers to the
exchange of goods, information products, or
services via an electronic medium such as the
Internet.

Expand. (1)To become larger in size, amount,

or number, or to make something larger in size,
amount, or number (2) if a company expands, it
increases its sales, areas of activity etc.

Economies of scale. The advantages that a

bigger factory, shop etc. has over a smaller one
because it can spread its fixed costs over a
larger number of units and thus produce or sell
things more cheaply

Extort .To illegally force someone to give you

money by threatening them.
Extranet A closed network of Web sites and email systems that is open to people outside as
well as inside an organization.

E-zine A regular publication of a particular

topic distributed in digital form, mainly via the
Web but also e-mail or floppy disk.

F
Facility. (1) A place or large building
which is used to make or provide a particular
product or service (2) special buildings or
equipment that have been provided for a
particular use, such as sports activities,
shopping or travelling
FAX. Stands for Facsimile Machine. A
Machine capable of transmitting written input
via telephone lines.
Fake. A copy of an original document, valuable
object etc. that is intended to deceive people into
believing it is the real document, object etc.
Fall. (1) A reduction in the amount, level, price
etc. of something (2) when a person or
organization loses their position of power or
becomes unsuccessful
Federal Funds . Deposits held in reserve by the
Federal Reserve System.
Fiddle. A dishonest way of getting
money or not paying money
FIFO. First In First Out, a method of inventory
control where the stock of a given product first
placed in store is used before more recently
produced or acquired goods or materials.
Flaw. A mistake or weakness in a machine,
system etc. that prevents it from working
correctly (2) a mistake in an argument, plans, or
set of ideas.

Flexible. (1) A person, plan etc. that is flexible

can change or be changed easily to suit any new
situation2 if arrangements for work are flexible,
employers can ask workers to do different jobs,
work part-time rather than full-time, give them
contracts for short periods etc.
Flextime. A system in which people who work in
a company do a fixed number of hours each
week, but can choose what time they start or
finish work within certain limits
Flight of capital. It is when money
is moved rapidly out of a country, usually
because its economy is doing badly or there is
political uncertainty
Fluctuate. If prices, income, rates etc.
fluctuate, they change, increasing or falling
often or regularly
Fluctuation. The movement of prices, income,
rates etc. as they increase and fall
Focus. When a company serves particular
groups of customers in a market with particular
needs, rather than serving the whole market
Focus group. A group of people brought
together to discuss their feelings and opinions
about a particular subject. In market research,
focus groups discuss their opinions of products,
advertisements, companies etc.
Forward Pricing . The establishment of the
price of a share in a mutual fund based on the
next asset valuation.
Forward Rate . An estimate of what an interest
rate will be at a specified future time.
Free port. A port where import duty does not
have to be paid on imports that are to be sent to

another country to be sold, or used to

manufacture goods that will be sold abroad

or an economy globalizes or is globalized, it no

longer depends on conditions in one country,
but on conditions in the world as whole

Futures Market. A market for buying and

selling securities, commodities, or currencies
that tend to fluctuate in price over a period of
time. The markets aim is to reduce the risk of
uncertainty about future prices.

Goodwill payment. A payment made by a

supplier to a customer because of a problem the
customer has had, for example with quality or
late delivery of goods

Freight Forwarder. An organization that

collects shipments from a number of businesses
and consolidates them into larger shipments for
economics of scale.

Gross domestic product per capita. The

total value of goods and services produced in a
country divided by the number of people living
there
Growth. An increase in size, amount, or degree

G
Gambling. The practice of risking money or
possessions on the result of something
uncertain, for example a card game or a
sporting event such as a horse race

Glitterati. Combination of Glitter and Literati.

Glamorous,rich,famouspeople,oftenconnected
toshowbusiness.

Global. Affecting or involving the whole world

2 including and considering all the parts of a
situation together, rather than the individual
parts separately
Global economy. The economy of the world
seen as a whole
Globalization. The tendency for
the world economy to work as one unit, led by
large international companies doing business
all over the world
Globalize. If a company, an industry,

H
Haggle. Negotiate with someone over the price
of something until an agreeably mutual price is
reached.
Haircut. A percentage subtraction from the
market value of an asset, typically on a large
scale, enforced by a powerful institution or
authority in response to debt/liabilities incurred
asset.
Hall Test. A term used when a group of people
are gathered together at a particular location
and asked to take part in market research.
Halo Effect. Where the image or reputation of a
person (or group or organization or brand or
other entity) is enhanced by influence from or
association with the quality of another situation.
A halo effect typically refers to an unreliable
indicator of good quality (ethics, goodness,
honesty, value, benevolence, etc) but might

rarely instead refer to an unreliable indicator of

negative quality.

economic activity possible, for example

transport, communications, and power supplies

Headquarters. The head office or main

building
of an organization

Innovate. To design and develop new and better

products

Hoarding. A large sign used for advertising.

Hoardings are called billboards in American
English
Hot-desking. When people working in an office
do not each have their own desk, but work
where there is one available

I
Incentive. Something which is used to
encourage people, especially to make them work
harder, produce more or spend more money
Income statement. A financial document
showing the amount of money earned and spent
in a particular period of time by a company.
This is usually called the profit and loss account
in British English
Incremental. 1 an incremental process is one
where things happens in small steps 2 an
incremental amount, sum etc. is small when
considered by itself
Industrial espionage. The activity of secretly
finding out a companys plans, details of its
products etc.
Infant industry. An industry in its early stages
of development in a particular country.

Infrastructure. The basic systems and

structures that a country needs to make

Innovation. A new idea, method, or invention

2 the introduction of new ideas or methods
Innovative. An innovative product, method,
process etc. is new, different, and better than
those that existed before 2 using clever new
ideas and methods
Insider trading. When someone uses knowledge
of a particular company, situation etc. that is
not available to other people in order to buy or
sell shares. Insider trading is illegal
Integrity. The state of being united or kept
together as one whole, and therefore strong, unit
2 complete honesty
Interpreter. Someone who translates what
someone says from one language into another,
especially as their job
Inventory. A supply of raw materials or parts
before they are used in production, or a supply
of finished goods. Inventories of raw materials
or parts are usually called stocks in British
Inventory control. Making sure that supplies
of raw materials, work in progress, and finished
goods are managed correctly. Inventory control
is called stock control in British English
ISO. Stands for International Organization for
Standardization.
Whose purpose is to
establish international standards for services,
goods, and industrial methods

J
Jingle. A short
advertisements

song or tune used in

Joint venture. A business activity in which two

or more companies have invested together by a
business, includes time, labor, materials, etc.
Job Lock. A situation in which a person feels
they cannot leave their job because they are
afraid of losing benefits connected to the job.

K
Kaizen. Japanese for 'improvement'. When
implemented in the workplace, Kaizen activities
help to improve the running of a business.
Kanban. Japanese for 'visible record'. In
industry, a manufacturing system which is
regulated by the use of cards or boards which
contain specifications and instructions for the
production process of goods.

Job Protected Leave. Allows people to

officially take time off from their work for a
longer period without the fear of losing their
job, often because of illness or pregnancy.

Kickback. Informal a bribe- money that is paid

secretly and dishonestly to obtain someones
help

Job Sharing. A work schedule in which two or

more people voluntary do one full-time job,
sharing the work and dividing the hours
between them.

KISS. Informal keep it simple, stupid; keep it

short and simple. Used to say that a method for
doing something should be kept simple, in order
to avoid mistakes

Joint
Consultation.
An
organizational
decision-making process in the UK, where
managers and employees representatives,
usually from unions, meet to discuss matters
relating to the employees working conditions,
etc.

Knowledge worker. Someone whose job

involves dealing with information, rather than
making things

Joint Stock Company. A company or

organization owned by joint shareholders, which
is a type of corporation and partnership.
Junk Bond. Also known as High Yield Bonds. A
high risk bond with a high interest rate, often
used by companies to raise finances in order to
take over other companies.
Just-In-Time. A manufacturing system in which
materials and components are delivered
immediately before they are required, in order to
increase efficiency, reduce waste and minimize
storage costs.

L
Labor union. An organization representing
people working in a particular industry or
profession, especially in meetings with their
employers. Labor unions are called trade unions
in British English
Laisser-faire. The idea that governments should
do as little to the economy as possible and allow
private business to develop without the state
controlling or influencing them
Launch. To show or make a new product
available for sale for the first time

2 to start a new company

3 to start a new activity, usually after planning it
carefully
Letter of credit. A written promise by an
importers bank to pay the exporters bank on a
particular date or after a particular event, for
example when the goods are sent by the exporter
Level. The measured amount of something that
exists at a particular time or in a particular
place 2 all the people or jobs within an
organization, industry etc. that have similar
importance and responsibility
Level off/out. To stop climbing or growing and
become steady or continue at a fixed level
Liberalize. To make a system, laws, or
moral attitudes less strict
Limited company. A company where individual
shareholders lose only the cost of their shares if
the company goes bankrupt, and no other
property they own
Logo. A design or way of writing its
name that a company or organization uses as its
official sign on its products, advertising etc
Loophole. A small mistake in a law that makes
it
possible to do something the law is supposed to
prevent you from doing, or to avoid doing
something that the law is supposed to make you
do
Losing. To stop having something any more, or
to have less of it

Margin. The difference between the price of a

product or service and the cost of producing it,
or between the cost of producing all of a
companys products or services and the total
sum they are sold for
Market challenger. An organization or product
that may take the place of the organization or
product that has the highest sales in its market
or industry
Marketing mix. The combination of marketing
actions often referred to as product, price,
place, and promotion: selling the right product,
through appropriate distribution channels, at
the right price in relation to other products and
for the profitability of the company, with the
correct support in terms of advertising, sales
force etc.
Market leader. An organization or product that
has the highest sales, or one of the highest sales,
in its market or industry
Market nicher. A product or service sold in a
niche market or the company that sells it
Merchandise. Goods that are produced in order
to be sold, especially goods that are sold in a
store
Merge. If two or more companies, organizations
etc. merge, or if they are merged, they join
together
Merger. An occasion when two or more
companies, organizations etc. join together to
form a larger company etc.
Middleman. A person, business, organization
etc. that buys things in order to sell them to
someone else, or that helps to arrange business
deals for other people

Mission statement. A short written statement

made by an organization, intended to
communicate its aims to customers, employees,
shareholders etc.
Model. A particular type or design of a vehicle
or machine 2 a simple description or structure
that is used to help people understand similar
systems or structures 3 the way in which
something is done by a particular country,
person etc. that can be copied by others who
want similar results
Morale. The level of confidence and positive
feelings among a group of people who work
together

N
Naked Debenture. Also known as Uncovered
Debenture. A company's loan or debt which is
not backed by any security, i.e., the company's
assets.
Narrow Money. Also called M1. A country's
money supply which can be exchanged, for
example coins, bank notes, bank cheques,
travelers cheques, etc.
National Brand. A brand or product which is
available nationwide rather than a local brand
which is available in only one area of the
country.
National Debt. The total amount of money
owed by a nation's government.
National Insurance. In the UK, contributions
made to the government by employers and
employees which provide payments to the sick,
retired and unemployed.

Nepotism. The practice of giving jobs to

members of your family when you are in a
position of power
Niche market. A market for a product or
service, perhaps an expensive or unusual one
that does not have many buyers but that may be
profitable for companies who sell it

O
Ochlocracy. Mob rule. Also known as
Mobocracy. Ocholocratic groups are typically
prone to extreme actions and not very clever
decisions, which may be a reflection of vengeful
motivation, weak intelligence, lack of
organization, or any/all of these

Occupational Hazard. Aspects of a job which

can be dangerous or pose a high risk of injury.
Occupational Psychology. Also called
Organizational Psychology. The study of
peoples behavior at work, covering personal
relations, mental health, employee selection and
training, safety, etc. word mob, which is
interesting in its own right.
Off-Balance Sheet. Refers to items such as assets
or a debts which are not recorded on a company's
balance sheet.
Offer by Prospectus. A description of a company,
for example financial structure, prospects, aims,
etc., used when new shares are offered to the
public, or when the company is for sale.

Open-plan office. Open-plan offices do not

have walls dividing them into separate rooms

Optimize. To make the best possible use of

something or to do something in the best
possible way

rank in a company or organization 2 also sales

promotion an activity such as special
advertisements or free gifts intended to sell a
product or service

Overtime. Time that you spend working in your

job in addition to your normal working hours
2 time that a factory, office etc. is operating in
addition to its normal hours 3 the money that
you are paid for working more hours than usual

Protectionism. the idea that a government

should try to help an industry in its country by
taxing foreign goods that compete with it,
limiting the number that can be imported etc.,
and the actions that it takes to do this

P
Peak. The time when prices, shares etc. have
reached their highest point or level
Phone rage. Angry behavior on the telephone
by
people who are not satisfied with the service
they are receiving etc.
Pioneer. The first person or organization to do
something that other people and organizations
will later develop or continue to do
Plummet. To suddenly and quickly go down in
value or amount
Point-of-sale advertising. Advertising for a
product in places where it is sold
Prime time. The time in the evening when most
people are watching television, and the cost of
advertising is at its most expensive
Product portfolio. All of a companys products
considered as a group
Profit and loss account. A financial document
showing the amount of money earned and spent
in a particular period of time by a company.
This is usually called the income statement in
American English

Promotion. A move to a more important job or

Prototype. The first form that a new design of a

car, machine etc. has

Q
Qualification. An examination that you have
passed at school, university, or in your
profession 2 a skill, personal quality, or type of
experience that makes you suitable for a
particular job
Quality circle. A small group of employees who
meet regularly to discuss ways to improve
working methods and to solve problems
Quota. An official limit on the number or
amount of something that is allowed in a
particular period

Quantity Surveyor. In the UK, a professional

who works in the construction industry, whose
job is to calculate the cost of materials, labor,
etc., needed to complete a project.
Quarter Day. In the UK, a fixed day of each
quarter of the year on which certain payments,
such as rents, are due.

R
Rationalize. To make a business or organization
more effective by getting rid of unnecessary
staff, equipment etc., or reorganizing its
structure
Real estate. Land or buildings and the business
of buying and selling them
Recall. If a company recalls one of its products,
it asks customers to return it because there may
be something wrong with it 2 to remember
something that you have seen or heard, such as
an advertisement
Recession. A period of time when an economy
or
industry is doing badly, and business activity
and employment decrease. Many economists
consider that there is a recession when
industrial production falls for six months in a
row
Recover. To increase or improve after falling in
value or getting worse 2 to get back money that
you have spent or lost 3 to get back something
that was stolen, lost, or almost destroyed
Recovery. When prices increase, or when the
economy grows again after a period of difficulty
Recruit. To find new people to work for an
organization, do a job etc.
Redundancy. When someone loses their job in
a company because the job is no longer needed
2 a person who has lost their job in a company
because the job is no longer needed
Redundant. If you are redundant or made
redundant, your employer no longer has a job
for you

Reference. A letter written by someone who

knows you well, usually to a new employer,
giving information about your character,
abilities, or qualifications
Reliable. Someone or something that is reliable
can be trusted or depended
Relocate. If a company or workers relocate or
are relocated, they move to a different place
Restriction. An official rule that limits or
controls what people can do or what is allowed
to happen

S
Sell-off. When a business, company etc., or part
of one, is sold to another company
Share. One of the parts into which ownership of
a company is divided
Share capital. Capital in the form of shares,
rather than in the form of loans
Shareholder. Someone who owns shares in a
company
Skill. An ability to do something well, especially
because you have learned and practiced it
Sleaze. Immoral behavior, especially involving
money
Sleeping partner. A partner who invests in a
business but does not take an active part in
managing it
Slot. A particular time when a television
programme or advertisement is shown

Slush fund. An amount of money collected for

illegal purposes, especially by a politician

Tactic. A method that you use to achieve

something

Sole trader. A legal form of company in some

countries for someone who has their own
business, with no other shareholders

Tactical. Done in order to achieve what you

want at a later time, especially in a large plan

Speculate. To buy goods, shares, property etc in

the hope that their value will increase so that
you can sell them at a higher price and make a
profit, often quickly
Speculative. Bought or done in the hope of
making a profit 2 based on guessing, not on
information or facts
Stabilize. To become firm, steady, or
unchanging, or to make something do this
Stake. Money risked or invested in a
business
Stand at. To be at a particular level or amount
Start-up. A new company
Stock. Especially one of the shares
Stock control. Making sure that supplies of
raw materials, work in progress, and finished
goods are managed correctly. Stock control is
called inventory control in American English
Straight. To be honest and
truthful with someone

Tailor. To make something or put something

together so that it is exactly right for someones
needs
Take over. To take control of something 2 to
take control of a company by buying more than
half of its shares
Takeover. The act of getting control of a
company by buying more than half of its shares
Takeover target. A company that may be
bought or that is being bought by another
company
Target. An organization, industry, country etc.
that is deliberately chosen to have something
done to it 2 a result such as a total, an amount,
or a time which you aim to achieve
Tariff. A tax on goods coming into a
country or going out of it
Teaser. An advertisement intended to get
peoples attention for advertisements that will
come later or products that will be available
later
Total quality management. The management
of systems in a company in order to make sure
that each department is working in the most
effective
way and to improve the quality of the goods the
company produces
Track record. All the things that a person or
organization has done in the past, which shows

how good they are at doing their job, dealing

with problems etc.

U
Unscrupulous. Behaving in an unfair or
dishonest
Upgrade. To make a computer, machine etc.
better and able to do more things 2 to buy a new
computer, machine etc. that is better and
able to do more things than your old one
3 to get a better seat on a plane, a better rented
car etc. than the one you paid for, or give
someone a better seat etc. than the one they paid
for
Upmarket. Involving goods and
services that are expensive when compared to
others of the same type, or the people that buy
them

Value Engineering. In manufacturing, a

method of producing a product at the lowest
price but without sacrificing quality, safety, etc.,
and at the same time meeting the customers
needs.
Valued Policy. An insurance policy in which the
insurer agrees to pay a claim for a specified
amount in the event of loss, damage, etc., for
items insured, such as works of art.
Value Investor. An investor who buys shares,
etc., which they believe to be underpriced, in
order to make a profit by selling them when they
price rises.
Value Share. A share, etc., which is considered
to be underpriced and is therefore a good
investment prospect.
Vanity Publishing. The author pays the
publisher.

Upmarket/upscale. To start buying or selling

more expensive goods or services

Voice mail. A system for leaving messages for

people by telephone, or the messages themselves

Volume. The amount of space that a substance

or object contains or fills 2 the total amount of
something available room in a hotel.

Vacancy Rate. The percentage of unoccupied

rental space or units, e.g. hotel rooms,
compared to total available rental area at a
given time.

Valid. Legally or formally acceptable or

binding. Unexpired, e.g. a passport.
Value-Added Reseller. A company which
purchases a product and modifies or enhances it
before reselling it to the consumer. This practice
is common in the computer industry.

Wage Slave. Someone whose is totally

dependent on the wages they earn.
Waiver. A formal statement in which someone
gives up a right or privilege.
Walk Back The Cat. A metaphor for
troubleshooting. When something goes wrong,

the situation is analyzed in chronological order

to find out when the problem happened and why,
and correct mistakes so they don't happen
again. Like when a cat unravels a ball of string
and you have to rewind the twisted yarn to find
the flaw.
Walking Papers. Also called Walking Ticket. A
notification of dismissal from a job.
Wall Street. A street in Lower Manhattan where
the New York Stock Exchange and financial
centre is situated.
WAN. Stands for Wide Area Network. A
communications network which covers a wide
area of a region or country, connecting
computers, phones, etc.
Warranty. A written promise that a company
gives to a customer, stating that it will repair or
replace a product they have bought if it breaks
during a certain period of time. Warranty is
another word for guarantee
Welfare. Help that is given by government to
people with social or financial problems
because they are unemployed, ill etc.
Whistleblower. Someone working for an
organization who tells the authorities that
people in the organization are doing something
illegal, dishonest, or wrong
Wholesaler. A person or company that sells
Workforce. All the people who work in a
particular country, area, industry, company, or
place of work

X
X-Efficiency. A concept introduced by
economist Harvey Liebenstein. A company's
ability to use its workers, machines, technology,
etc., to produce maximum output at lowest cost
and as quickly as possible.
Xenology. The scientific study and/or research
of alien cultures and biology.
Xerox Machine. A piece of equipment which
makes paper copies of documents, etc.
X-Inefficiency. When a company is not using its
employees,
machinery,
resources,
etc.,
effectively, often because of lack of competition.
Xylography. The art of engraving an image on
a block of wood, or printing from woodblocks.

Y
Yarn storming. Also called yarn bombing, an
intriguingly specialized type of peaceful
demonstration and activism in which objects
such as works of art, sculpture, railings, phone
boxes, considered unattractive by the activists,
are covered by knitting or crochet, usually at
night, and mainly by young women.
Yellow Pages. A telephone directory, usually
printed on yellow paper, which lists businesses,
organizations, retailers, etc., in alphabetical
order in categories according to the service they
provide.
Yellow Sheets. Published every day in the US
by the National Quotation Bureau, a list which

shows information and prices of corporate

bonds.

Zero-Rated. Describes goods or services on

which the buyer pays no value-added-tax.

Yeoman. A servant or attendant in a royal or

noble household.

Zero-Sum Game. A situation in which what is

lost by one person, company, etc., is matched by
a gain by another/others. Used in economics
and Game Theory to describe the relatively
simple 'strictly competitive' situation whereby
all the losses and gains balance each other to
zero. Potential gains are finite; what is gained
by one must be lost by another, and vice-versa.

Yield. The annual income earned from an

investment, usually expressed as a percentage of
the sum invested.
Youth Court. A court of law, which members of
the public are not allowed to attend, that deals
with juvenile (under 18 years of age) offenders.
Yuppie.
Derives
from
Young
Urban
Professional. Term used since the 1980s to
describe a young person who has a well-paid
job and an affluent lifestyle.

Z
Zero defects. The aim of having no faults at all
in products that are produced

Zip. In computing, compressing data to make a

file smaller in order for it to be stored or sent to
another computer. Also, slang for nothing.
Z-Score. Developed by Dr. Edward Altman of
New York University in the 1960s, a
measurement of the financial health of a
company which predicts the probability of the
company going bankrupt.