|
The terms in this list relate to business either directly or indirectly
and are used in discussions and/or in conversation.
Highly-specialized technical terminology is not included.
|
A&P mix |
advertising
and promotion: the various amounts of different types of advertising, public relations,
and other marketing communications activities that are used to meet a specific goal. |
ABC analysis |
a
decision-making tool that puts items into categories (A, B, C) based on their
significance. |
abide by
(a rule, an instruction) |
to
obey or to comply with (a rule, an
instruction, someone’s orders, ...)
If you want to
advance here, you have to abide by the rules.
I will abide by the executive committee’s decision. |
abroad |
in a
foreign country or to a foreign country. (Also: overseas) |
absenteeism |
the
rate at which an individual or a group fails to show up for work. (absent = not present) |
access |
the
right or the ability to enter or use something.
We don’t have access to the building on Sundays.
Do we have access to that information? |
access code |
individualized
number and/or letter that are used to enter an electronic system. |
accommodation |
anything
that is supplied for someone’s convenience or to satisfy someone’s
need. It often refers to services relating to travelling or eating or
staying overnight. (often used in the plural form)
Please arrange hotel
accommodations for me in London.
How are the accommodations (conditions
and services) at your hotel? |
account |
In financial language, the
word account means "a record of transactions during a fiscal period
and the resulting current balance".
Do you have an account with
our bank?The word account also
means "a particular customer", since each customer represents an account in the
financial sense.
He is an important account
(customer) for us.
See
key account and
corporate account.
An account can also be a report (verbal
or written) about something that happened.
John will now give us an
account of his week of training. |
account executive |
someone
in an advertising or public relations agency or in a brokerage (or other service firm) who
oversees a specific account (client) and is the principal contact person with the client. |
accountant |
a
person qualified to interpret and report on the financial transactions and present
condition of a company. |
accounting |
the
work of keeping or checking accounts.
He works in the accounting
department. |
accounts payable |
all of
the debts currently owed by a company to its vendors and suppliers. |
accounts receivable |
all of
the debts currently owed to a company by its customers. |
ace |
(1) to
do a perfect job.
He aced the examination.
(2) an excellent performer in an organization or in a field of activity.
Tom is an investment ace. |
achieve |
to
reach (an objective or goal)
We will achieve our target of
5 million units sold before Christmas.
achievement
[noun]
Learning a language is quite an achievement.
achiever [noun]
Bill is a real achiever.
achievable [adjective]
Is this goal even
achievable? |
acquire |
to gain
possession (of something) by working for it or by buying it.
We have acquired a new
client.
She has acquired a lot of experience.
He acquired a new computer.
acquisition [noun]
A new car is a major
acquisition.
We are considering the acquisition
of a new car.
acquisitive [adjective]
We are an acquisitive people. |
act
as … |
to
function in the role of (a position)
Mr. Jones will act as foreman
until Mr. Quinn returns from the hospital.
I will act as chairman today. |
action items |
a list
of high-priority activities to be completed in a short amount of time (including the
activity, who is to do it, and the deadline for completion). |
action plan |
items
to be completed to meet a specific objective, usually including a timetable for getting
them done. |
actuary |
a
person who uses mathematics to compute the probability of insurance claims. |
ad |
short
for advertisement |
adapt |
to make
(something) suitable for a new use.
It takes time to adapt to a
different culture.
adaptable [adjective]
A person has to be adaptable
in difficult situations.
adapter [noun]
Do you have an adapter for
this cable? |
adjourn |
to end
(a meeting) for a stated time
We will adjourn the meeting
until two o'clock. |
adopt |
to use
(something) as your own
He adopted my strategy. |
advertise |
to
inform the public about a product with the goal of persuading them to buy it.
We need to advertise on
television more.
advertisement [noun]
We have a full-page
advertisement in Time magazine. advertising [adjective]
Our advertising budget is
huge. |
advice |
helpful
suggestions or recommendations
Good advice is hard to find. |
advise |
[verb] to give advice
advisor [noun]: someone who gives
professional advice
I suggest you see a tax
advisor. |
afford |
to be
able to do because you have enough money or time
We can’t
afford a new worker at this time.
affordable [adjective]
I found an affordable
apartment in Manhattan. |
agenda |
a list
of things to discuss at a meeting |
agent |
a
person or company that acts for another person or company (the principal) |
allocate |
[verb] to designate how much of a resource
(especially money) will be used, by whom, and for what purpose.
We’ve
allocated 20 seats to the press.
Part of our budget is allocated for training.
allocation [noun]
We’ve already
spent our training allocation for the year. |
amalgamate |
[verb] to combine two or more companies into
one. amalgamation [noun]: a company comprised of two or more
companies.
High Play Inc. is an
amalgamation of Cheaney Sporting Goods Inc. and Lewman
Chemicals. |
apply |
to use
(something) for a particular purpose.
You can apply this method to
other situations. |
apply for |
to ask
for (something) officially and in writing.
I’ve applied
for a visa.
He has applied for another job. |
appreciate |
to
increase in value.
The market value of our
shares has appreciated. |
ASAP or A.S.A.P. |
"As
Soon As Possible" |
asset |
something
of value that is owned by a person or a company, such as buildings, machinery, money,
land, patents, accounts receivable, inventories, etc. |
ATTN |
"attention"
or "for the attention of" … used in addressing letters. |
audience |
the
people who sit and listen to a presentation (speech, play, film, ballet, etc.).
The audience was very
interested in everything she said. |
audit |
[noun] an examination of a company's financial records audit [verb] to examine a company's financial records |
auditorium |
a large
room with seats suitable for performances and lectures.
The speech will be given in
the auditorium. |
authorize |
to give
(to another person) official permission or power.
I have been authorized to
sign company checks. |
automate |
to make
(something) operate by machine without needing people.
We want to automate all
manufacturing processes.
automation
Automation is the answer
to our problems. |
autonomy |
the
right to make one’s own decisions.
I have complete autonomy on
this project.
autonomous [adjective]
This division is
completely autonomous. |
award |
[verb] to give (a prize, certificate, contract)
We awarded the contract to
Acme.
award [noun]
We want to win the Baldridge
Award. |
balance |
the
difference between the credit transactions and the debit transactions in an account.
What is the balance of our
account now? |
balance sheet |
an
accounting document that lists all of a company's assets on the left side and all
of the company's liabilities plus owners' equity on the right side at a specific
point in time, usually at the end of a financial period. It gets its name from the fact
that the total on the left side (assets) must equal the total on the right side
(liabilities plus owners' equity). |
ban |
to
forbid (something) officially.
They banned this medicine
until tests are finished.
ban [noun]
We have a ban on all products
made by child labor. |
bankrupt |
[adjective] unable to pay one's debts.
to go bankrupt
bankruptcy [noun]
One of our competitors is
facing bankruptcy. |
bargain |
a
transaction where something is bought for a price below its real value.
I bought this television at
half-price; what a bargain that was. |
bear market |
a
longer period of declining stock and commodity prices.
> bull market |
benefit |
an
advantage or valuable feature
He receives good benefits,
such as insurance and a company car. |
bid |
[noun] the
price one company is willing to accept for doing a job for another company.
Our bid for the construction
project was much too high.
bid [verb] the act of putting forward a bid.
We are going to bid for the
project. |
bill |
a
written list of goods or services and the amount of money that must be paid for them.
I got a bill for the damages
caused by my dog. |
blue chip |
profitable,
offering a reliable investment and good prospects.
I only invest in blue-chip
stocks. |
board of directors |
A group of people who
are elected by the shareholders of a public corporation and who meet from time to time.
They have the ultimate responsibility for the success of a corporation. They also appoint
the chief executive officer (CEO), who has
responsibility for the corporation on a daily basis.
The board of directors will
meet to name a new CEO. |
bonds |
a
piece of paper issued by a corporation or a government which has a certain
face value and pays interest — a way of raising funds which must be
repaid by a certain date.
Money is flowing out of
stocks and into bonds. |
bonus |
an
extra sum of money paid to an employee for special achievement.
Everybody gets a bonus at
Christmas. |
bookkeeping |
the
recording of the financial transactions of a business. |
boom |
[noun] fast growth or a period of fast growth.
We think there will be a boom in the biotech industry.
boom [noun]
We think the biotech industry
will boom. |
borrow |
to take
from someone (something that you intend to give back)
Can I borrow ten dollars
until tomorrow? |
bottom line |
(1) the
net income line on an income statement.
(2) figurative: the essence of any information.
Don't give me a long
explanation; just give me the bottom line. |
branch |
a
division or section of a large business which is in a different location from the main
division or headquarters. also: branch office, branch factory |
brand |
a
particular make of goods or their trademark.
Coca-Cola is
the world’s most recognizable brand. |
break even |
[verb] to make neither a profit or a loss on a
business or product
If we don’t
break even this year, we could lose our jobs.
break-even point [noun]
We expect to reach the
break-even point soon. |
break down |
(1) [verb] to fail to function
The machine broke down at a
very bad time.
breakdown [noun]
We had a mechanical
breakdown.
(2) [verb] to divide into parts or categories.
Can you break down the costs
for us?
breakdown [noun]
Can you give us a breakdown
of all the costs? |
breakthrough |
an
important scientific, technological, or industrial discovery.
We are about to have a
scientific breakthrough of gigantic proportions. |
bribe |
[verb] to give money or gifts in order to
persuade someone to do something dishonest.
They wanted to bribe me.
bribery [noun]
They tried to change my mind
with bribery. |
brief |
[verb] to instruct or inform (someone)
thoroughly in advance.
We briefed him about the
situation before he went into the meeting.
[adjective] short in duration.
The meeting was very brief. |
broker |
a
person who buys and sells things or (financial) services. also: stockbroker, insurance
broker |
budget |
[noun] a financial plan showing how much money
a company intends to make and spend.
We have to rewrite our
budget.
[noun] an amount of money set aside for a
special purpose.
The advertising budget is not
big enough.
[verb] to set aside money for a special
purpose.
I think we should budget for
more R&D. |
bulk |
a large
size or amount of something.
We purchase our paper in
bulk. |
bulk discount |
a
reduction in the price of something given when a certain quantity is bought. |
bull market |
a
longer period of increasing stock and commodity prices.
see bear market |
business card |
a small
card that gives a business person's name, title, company name, etc. |
buyer's market |
a
condition in a market in which supply is greater than demand, which puts downward pressure
on prices.
see seller's market |
candidate |
a
person who is being considered for a job. |
capital |
(1) [noun] in accounting, the value of the assets
which are left over when a company pays off all of its debts.
– A
corporation’s capital is equal to it assets minus its liabilities.
(2) [noun] money available for investment.
– We can
raise more capital with a stock offering.
(3) [noun] any economic resource or wealth.
– Our
intellectual property represents our greatest capital. |
capital stock |
the
total amount of stock issued by a corporation
see common stock and preferred stock |
carriage |
the
cost of transporting goods from one place to another |
cash dividend |
a dividend
paid in cash to the stockholders of a corporation |
cc |
carbon
copy = "copies are being sent to the following people" |
CEO |
See chief executive officer |
chairman of the board of
directors
Also: chairman of the board
or chairman |
The
member of a company's board of directors who presides
over the meetings. He or she is the highest ranking executive, although not necessarily
the one with the most authority. |
channel |
the way
along which something travels
communication channels
distribution channels |
channel |
In broad terms, the word channel
refers to the path along which something flows. That something can be liquid (e.g. water)
or electronic (e.g. digital data, voice messages, etc.) or solid physical objects (e.g.
manufactured products as they "flow" along in a production process). In a production process, the channel for a
product can extend beyond the manufacturing company's borders. It can begin with the
manufacturing company's suppliers (of OEM parts and/or raw materials) and continue through
to the companies (i.e. partners) that handle the finished product. |
channel
partners |
Either companies that
contribute to the manufacturing process before it begins (e.g. suppliers) or companies
that get involved after the product has been manufactured (e.g. wholesalers, distributors,
representative firms, dealers, retailers, and individual sales people). |
charge |
(1) [noun] the price for a product.
– The charge
for rent has gone up this year.
(2) [noun] an individual item on a bill.
– I don't
understand some of these charges.
(3) [verb] to demand a price for a product.
– They are
charging us more for rent this year. |
chief executive officer |
The
highest position below the board of directors. Reports
directly to the board. Runs the company on a daily basis.
Also: CEO See president |
CIF |
cost,
insurance and freight. A CIF price includes the costs of loading the goods onto the ship,
the cost of marine insurance for the goods, and the cost of carrying the goods from the
port of origin to the port of destination. |
CIFC |
the
same as CIF plus a commission for the agent who helped to get the order. |
claim |
(1) a
demand for something that is rightfully due; for example, a sum of money from an insurance
company.
– He filed a
claim for damages from the flood.
[verb] to ask for something as a right.
– He claimed
$40,000 in damages.
(2) [noun]
a statement about a product’s features or advantages.
– They make a
lot of claims about their latest software version.
claim [verb]
– They claim that their product represents a new generation of
technology. |
clause |
a
paragraph, section, or part of a legal contract. |
client |
a
person or company that buys a service. |
collaborate |
[verb] to work closely with another person, especially in writing, research, or other
creative tasks.
collaboration [noun] |
colleague |
a
person you work with. |
collective bargaining |
the
bargaining (or negotiating) method in which representatives of the employees, the union,
and the employer determine the conditions for employment. |
commerce |
the
buying and selling of goods on a large scale which involves transportation of such goods
from place to place |
commercial |
(1) [adjective] having to do with business or commerce
(trade between companies or countries).
She is a trained commercial
secretary.
(2) [adjective] having the possibility of making a
profit.
Our company is a commercial
operation, not a charity. (3)
[noun] an advertisement on television or radio
or in the cinema
I hate to sit through all of
those commercials before the film. |
commission |
(1) a
payment to an agent for his part in a sale.
(2) a payment to an employee above the usual salary and based on performance, for example
as a percentage of sales.
I received a 15% commission on the
sale. |
commodity |
(1) raw
materials, semi-finished goods, or economic goods in general which have established
standards of quality and which are traded in established quantities.
(2) any product which is indistinguishable from its competition, a characteristic of
mature products see life cycle.
Memory chips have become
commodity items. |
common stock |
securities
issued by a corporation and which represent ownership. Common stock has the lowest
priority claim to the corporation's assets, but shares directly in its profits and usually
carries voting rights.
see capital stock and preferred stock. |
compensation |
an
appropriate amount of money paid by a person or a company that is responsible for some
financial loss or injury.
She received a large
compensation for her on-the-job injury. |
compete |
[verb] to struggle against another person or
company for the same goals.
We can compete with anyone in
any market. |
competition |
[noun] (1) other companies that strive after
the same customers.
Our competition is very
strong.
(2) the process of competing.
We believe in competition. |
competitor |
[noun] another company operating in the same
area of a market.
Company X is our biggest
competitor. |
compile |
[verb] to collect and arrange information or
data
We are compiling the sales
figures.
compilation [noun]
We will soon have a
compilation of the sales figures. |
complimentary |
[adjective] given without cost.
We received a complimentary
drink upon arrival. |
component |
[noun] any of the parts of which a product is
made.
We supply components for the
car industry. |
compound interest |
interest
which is paid on the sum of the principle plus any interest that has built
up in the past. |
compromise |
[verb] to change a negotiating position in
order to reach an agreement.
We may have to compromise
with the other side.
compromise [noun]
We may have to reach a
compromise. |
concession |
[noun] something given up in a negotiation.
What kind of concessions are
we prepared to make?
concede [verb] to give up (something) in a negotiation.
We will concede our demand
for a 10% increase. |
conflict of interest |
a
situation in which a person or a company is involved in two relationships; and doing
something positive for one relationship will result in a negative effect on the other
relationship.
A lawmaker who owns a company
that does business with the government has a conflict of interest. |
conglomerate |
a large
group of companies which produce a variety of products. |
consign |
[verb] to send (goods) to someone.
consignee [noun]: the person
receiving the goods. |
consignment |
a
quantity of goods which are sent (1) to supply a customer’s order or (2)
to provide an agent with goods to sell for the owner.
goods on consignment: goods sold by an agent where ownership remains
with the sender until a sale takes place. |
consortium |
a group
of companies co-operating for a common purpose. |
consult |
[verb] to get advice from an expert.
We consulted our legal
department. |
consultant |
[noun] an expert who gives professional advice.
We engaged an outside
consultant for the project. |
consultation |
[noun] a meeting to discuss a problem, with the
goal that a decision can be made.
I think we should have a
consultation with our partners before we attend the conference. |
consumer |
[noun] the person who buys a product for his or
her own use and not for resale.
Consumers are spending more.
consume [verb]
Americans consume a lot of
coffee and cola.
consumption [noun]
The consumption of alcohol is
increasing. |
consumer goods |
goods
bought by the general public, e.g. food, furniture, cars, clothing, appliances. |
corporation |
[noun] a legal entity which is created under
the laws of a state for the purpose of conducting business. Legally, people who own shares
in the corporation cannot be held liable for the debts of the company.
The stockholders, or owners, of a
corporation are liable only for the amount of their personal investment.
A public corporation is one whose shares are bought and
sold publicly on a stock market.
A private corporation is one that is privately owned; that is, you cannot buy
shares of it on a stock market.
corporate [adjective]
We are very proud of our
corporate identity.
incorporate [verb]
It is wise to incorporate in
the United States if you want to do business there. |
corporate account |
The word account
means "customer". So a corporate account simply means the
customer is a corporation and not an individual. See account |
cost |
(1) (singular) the amount of money necessary to pay for
something.
– The cost of
this project is too high.
(2) (plural) a collection of individual costs.
– There are
too many costs involved in this project.
> expense |
cost effective |
=
economical |
credit |
(1) [noun] an amount of money which is owed to a
customer.
(2) [noun] praise for a positive accomplishment.
No one gave him credit for his idea.
(3) [verb] to record a transaction in the
customer's favor.
We have credited your account
for the overpayment.
(4) [verb] to acknowledge that a person is
responsible for a positive accomplishment.
He is generally credited with
saving the company from bankruptcy. |
currency |
the
money system of a country.
The currency of Japan is the
yen. |
current assets |
the
assets which are regularly used and replaced in a business within the present time period. |
current liabilities |
the
debts which must be paid within the present time period. |
current ratio |
one
measurement of a company's financial status, computed by dividing the current assets by
the current liabilities. |
customer |
a
person or company that buys goods or services.
see client |
debit |
in
accounting, the recording of a transaction which shows an increase in an asset
account or a decrease in a liability or equity account. |
debt |
money,
goods, or services that are owed. |
default |
to fail
to pay a debt when it is due. |
deficit |
the
amount by which money going out is greater than money coming in for a certain period of
time, usually one year. |
demand |
the
amount of a product that the market wants.
see supply |
depreciation |
a
decrease in the value of a fixed asset over a period of time. |
depression |
a
period of severe decline in employment, production, consumer buying, and economic activity
in general.
see recession. |
devaluation |
a
decrease in the value of one currency relative to another. |
direct costs |
those
costs that can be directly associated with the production of a product.
also: direct expenses |
direct expenses |
see direct
costs |
discount |
a
reduction in the normal price of something given to special customers or for special
reasons. |
discretionary income |
the
part of disposable income which remains after paying for necessities, such as food,
clothing and housing. |
disposable income |
the
part of income which remains after paying taxes. |
distributor |
This
term is used in the same way that the term wholesaler is used.
Some areas of business prefer to call their wholesalers distributors; for example,
the beverage industry (beers, colas, etc.). |
dividend |
a
payment, either in cash or stock, to the holders of a company's stock. Dividends on
preferred stock are usually fixed while dividends on common stock often vary with a
company's success and growth potential. |
division |
any
major section of an organization --- especially a large corporation --- which contains all
the departments and resources that are needed to operate independently within the larger
organization.
He is in charge of the truck
division at GM. |
Dow-Jones Averages |
a
composite average of the thirty industrial stocks chosen by the Dow-Jones Company as
representative of stock market activity. |
downside risk |
the
maximum amount that can be lost in an investment if its outcome is unfavorable.
see upside potential. |
earnings |
generally,
a company's net income over an extended period. |
economic |
related
to the economy or to the science of economics.
The latest economic figures
show a decrease in demand for consumer goods. |
economical |
inexpensive
or cheap to operate; not wasteful.
I drive a very economical
car. |
economy |
the
financial and commercial operations of a country.
The most important issue in
the last election was the state of the economy. |
effective |
able to
bring about the planned result.
We have developed an
effective method of surveying our market. |
efficient |
able to
work fast or well with very little waste. We need to invent a more efficient energy source
for the automobile. |
employ |
to use the services of someone
or something.
This factory employs 2000 people.
We employ the latest technology.
We employ the latest technology. |
employee |
a person
who works for a company. |
employer |
a person
or company who gives work to people. |
employment |
work on a
full-time or regular basis. |
endorse |
(1) [verb] to sign your name on the back of a
check.
(2) [verb] to give your name to the support of a
product.
We need a famous person to endorse our products.
(3) [verb] to give support to someone else's idea.
I endorse John's suggestion.
endorsement
I gave my endorsement to the
idea. |
entrepreneur |
[noun] a person who owns and runs a business,
taking all of the financial risks.
– It is a
meeting between entrepreneurs and government leaders.
entrepreneurial [adjective]
– We need our
managers to display entrepreneurial responsibility in their duties. |
equity |
(1) [noun] the net worth of a business, computed by
subtracting the liabilities from the assets.
– He has a
65% equity in the company.
(2) [noun] any of the forms of business ownership,
such as preferred or common stock.
– Most of the
trading on Wall Street is in equities. |
equity capital |
money
supplied by the owners of a company (e.g. money from the sale of common stock).
– The
individual stock price multiplied by the number of shares outstanding will
give the equity capital of a corporation. |
estimate |
[verb] to express one's opinion concerning the
cost of something, the time necessary to complete it, the size it will be, etc.
– I estimate
it will take six months to build.
[noun] an official opinion concerning the cost
of a project, the time it will take, etc.
– We will
send you an estimate in two weeks. |
executive |
an
employee of a company of at least managerial level, although the term is usually used for
vice-presidents or higher. It is rarely used for people who directly supervise
manufacturing operations. |
executive search agency |
a
service company that searches for qualified candidates for difficult-to-fill executive
positions for a fee. |
expenditure |
amounts
of money spent on specific projects.
– We have to
increase our research expenditures. |
expense |
any
cost that results from the process of producing revenues.
see direct expense and indirect expense. |
farm out |
to have
someone outside the organization do some work in order to complete a job on time.
– We had to
farm out some of the typing in order to finish on time. |
FAS |
free
alongside ship: the price of goods includes transportation to a point alongside a named
ship. The cost of loading the goods onto the ship must be paid by the buyer. |
fiduciary |
(legal) legal responsibility for taking care of
something that belongs to someone else.
– Any manager
with control over the finances of his area of activity has a fiduciary
responsibility to the company. |
finance |
(1) [noun] the study of the management of money.
(2) [verb] to provide money for a project.
– We need
help to finance this project. |
finances |
[noun] the monetary resources of an
organization or individual.
– I don’t
have the finances that are needed for this kind of venture. |
financial |
[adjective] having to do with finance.
– He is a
financial genius. |
financing |
[noun] the supply of money for a company or a
particular project.
– Financing
for more construction will not be a problem. |
finished product
Also: finished good |
A
product that is ready to be sold to a customer. (If the customer is another
manufacturer, the product is an OEM product when seen from the
customer's side.) |
fiscal |
[adjective] referring to financial matters in
general.
– I agree
with their fiscal policy. |
fiscal year |
the
accounting or tax year of a company as opposed to the calendar year.
– Our fiscal
year ends on June 30. |
fixed assets |
the
property of a company that is meant to be used over a long period of time, e.g. land,
buildings, machinery. |
fixed cost |
costs
that are not affected by the volume of production, e.g. rent. |
FOB |
Free On
Board: the price of goods covers all transportation costs, including the cost of loading
the goods onto a ship (or to an airport). |
franchise |
the
right to distribute a company's goods or services under its name and keep the profits in
exchange for a fee and/or a share of the profits.
– Most
McDonald's outlets are franchises. |
free agent |
a
someone with very valuable skills, whose contract has expired and is looking for the
highest bidder for his services (from team sports).
– At this
time next year, I will be a free agent. |
free lancer |
an
independent or self-employed worker.
– Let’s use
some free lancers for this project and save some money. |
freight |
a
general term referring to goods that are transported by sea or air or rail or road.
freight charges: the cost of transporting goods.
freighter: a commercial transport ship. |
funds |
in
general, highly liquid assets, such as cash and marketable securities. |
gain |
an
increase in value over a period of time.
– Our stocks
had a gain last quarter. |
gimmick |
something
new or unusual added to a product or to the marketing of a product in order to attract
people's interest but without adding significant value.
– This new
product feature is not just another gimmick. |
going rate |
the
current market price of a product, wages, materials, etc. –
What is the going rate for eggs? |
gross margin |
the
difference between the retail price of goods and the wholesale price, divided by the
wholesale price.
– The gross
margin on memory chips is less than 10%. |
Gross National Product |
also: GNP.
the total of all goods and services produced in a country in one year, including income
from investments in foreign countries. |
gross profit |
the
difference between the retail price of goods and the wholesale price. |
gross sales |
the
total sales before taking off discounts, returns, damaged goods, etc. |
holding company |
a
company which owns enough stock in other companies to have control over them. |
horizontal integration |
the
joining of two or more companies in the same industry.
see vertical integration |
host
/ Web host |
The most common meaning of host
[noun] is someone who invites other people to come to his or her house for a dinner or a
party [Gastgeber].
Similarly, a Web host is a company that invites other companies to use its server
in order to operate a Web site. Most Web hosts also offer to help their customers design
and develop their Web sites.
The same word can be used as a verb, to host a Web site. |
incentive |
something
offered to a worker in return for greater effort.
– Profit
sharing is an effective incentive for most workers. |
income |
all
money received from the sale of goods and services plus money received from earnings on
investments plus money received from the extraordinary sale of property.
also: revenue |
income statement |
a
financial statement that shows a company's revenues, expenses, and the
resulting net earnings for a given accounting period.
also: profit and loss statement |
incorporate |
[verb] to form a free-standing legal entity.
corporation [noun]
incorporated [adjective]
corporate [adjective]
Some companies use the word Inc. (pronounced "incorporated") in their
names; other companies use the word Corp. (pronounced "corporation") in
their names. There is no difference in the kind of companies they are; it is only a choice
of words. |
indirect cost |
a cost
which is not directly related to the making of a product.
– Office rent
is an indirect expense.
see indirect expense |
indirect expense |
see indirect
cost |
intangible assets |
unseen
assets which are of value to a company; for example, a patent, exclusive rights to a
product or process, a copyright, etc.
see tangible assets |
interest |
money
paid in return for the use of borrowed money. The borrowed amount is called the principal.
see simple interest and compound interest. |
Internet
service provider
(also: ISP) |
An ISP is a company that
offers individuals or other companies access to the Internet for a fee. |
inventory |
(1) the
value of the raw materials, semi-finished goods, and finished goods that are still being
held by the company. In accounting terms, inventories are assets.
also: stock
(2) a list of such items.
(3) the physical collection of such items.
– I must
check to see if we have that item in inventory (in stock). |
investment |
money
that is used in a way which is expected to result in a profit later: purchasing ownership
in a company or project, purchasing assets, hiring people, doing research, putting money
in bank account that pays interest, etc. |
invoice |
(1) a
detailed statement of ordered goods which is sent to the buyer before the goods are
delivered.
(2) a detailed statement of ordered goods which is sent to the buyer along with the goods.
(3) a detailed statement of goods or services already provided which is sent to the buyer
along with a request for payment.
also: bill |
job |
the
defined duties which a person performs for pay.
– I like my
job.
(2) a specific
performance within one’s normal duties.
– You did a
good job with the Sanderson contract. |
job description |
a
formal, written description of the duties to be performed in a job.
– This isn’t
in my job description. |
job rotation |
moving
people between several different jobs on a regular schedule, either because no one has the
jobs permanently or as a way to keep people fresh and interested and to give them
cross-training. |
job satisfaction |
how
much you like your job.
– Salary and
job satisfaction are both important to me. |
job security |
the
relative likelihood that your job will be eliminated.
– For some
people, job security is more important than job satisfaction. |
joint venture |
when
two or more entities combine resources for a one-time or on-going project, but do not
merge all their business activities.
Our two companies will be
together in a joint venture involving the market in Poland.
see venture |
junior executives |
entry
level and midlevel managers who are being prepared for advancement. |
just in time |
also: JIT.
a manufacturing inventory system in which raw materials and components are delivered from
suppliers shortly before they are needed, thereby reducing inventory costs. |
kaizen |
a
Japanese discipline of continuous improvement to reduce defects and variation and enhance
the quality of the end product. |
kanban |
a
Japanese term for a just-in-time inventory system in which materials are scheduled to
arrive when needed rather than stockpiled in a warehouse (the word means
"reminder"). |
key account |
A key customer (one that is
very important) is also called a key account, and a manager who is
responsible for such a customer is a key account manager. See account |
keynote |
the
most important speech at a conference. |
kickback |
money
given to the giver of a contract in return for the contract (usually an illegal or
unethical practice). |
killing |
a very
great financial success.
– He made a
killing on the stock market last year. |
KISS |
"Keep
It Short and Simple." good advice for people making presentations. (also: keep it
simple, stupid!) |
labor |
(1)
[noun] unionized workers.
(2) [noun] blue collar workers.
labor [verb] to work |
labor force |
all of
the people who are employed. |
labor-intensive |
requiring
a large amount of human work to produce.
– Writing
software is very labor-intensive. |
launch |
[verb] to introduce (for example, a product or
an advertising campaign).
– We are
going to launch our new product in May.
launch [noun] the introduction of a new product or ad
campaign.
– The launch
of our new product will be in May. |
lay off
(lay - laid - laid) |
[verb] to end the employment of a worker for
economic reasons.
– John was
laid off yesterday. |
layoff |
[noun] the act of eliminating a job.
– There will
be 200 lay-offs next month. |
lead time |
the
time between placing an order and receiving the product.
– There is a
seven-day lead time with our suppliers before we can start our
manufacturing process.
see turnaround time |
leverage st. |
Originally, to leverage
an investment meant to use borrowed money with the goal of realizing a profit
that is greater than the interest payments on the borrowed money.
A leveraged buyout is the purchase of a company using borrowed money.
Nowadays the expression also means to use something of value to improve one's position.
- They are leveraging their
expertise to receive financial support from other companies.
The idea comes from the way a lever works
[Hebel]. |
liability |
the
amount of money that is owed to someone; the amount of money that has to be paid or
repaid.
also: debt |
life cycle |
the
natural movement of a product or business through the four phases of its lifetime:
1. development,
2. growth,
3. maturity, and
4. decline. |
liquid |
easily
convertible to cash |
liquid assets |
cash,
securities, and commodities that can be quickly converted to cash. |
liquidate |
to
convert assets into cash. |
liquidity |
the
degree to which an asset can be converted to cash. |
loss |
the
amount by which expenses exceed revenue. The opposite of profit. |
lump sum |
an
amount of money paid or received in one transaction.
– You can
either pay for this in monthly payments or in one lump sum. |
margin |
the
difference between the price of something and its cost. If it is expressed as a percentage
of the cost, it can also be called gross margin. If it is expressed simply as an
amount of money, it can also be called gross profit. |
market |
(1) [noun] all potential buyers for goods and
services.
– Is there a
market for this idea?
(2) [noun] the actual place where goods and
services are exchanged.
– The
American market is very big.
(3) market [verb] to sell goods and services to actual
buyers.
– We market
our products in Europe and Asia. |
market segment |
a group
of consumers who have some characteristics in common, such as age, sex, income, education,
occupation, marital status, geographic location, etc.
– Males
between the ages of 24 and 40 are an important market segment. |
market share |
the
sales of one company's product expressed as a percentage of the total sales of all such
products.
– Our market
share will soon be over 50%. |
marketing |
a
company's total effort in directing its products to the buyer. It includes advertising,
selling, packaging, distribution, and market research.
– Our
marketing has improved. |
marketing mix |
the
elements of marketing: product, brand, package, price, channels of distribution,
advertising, promotion, personal selling, etc. |
mediate |
[verb] to help to settle a dispute between two
other people or organizations.
– We hope to
be able to mediate this dispute.
mediation [noun] the process of mediating.
– Are they
willing to enter mediation with us?
mediator [noun]
– We need a
strong mediator to sit down with us. |
merchandise |
goods
which are bought and sold at wholesale or retail. The term does not include real estate or
services but is limited to tangible goods that are for sale.
Our store carries only the
highest quality merchandise. |
merchandising |
the act
of identifying and meeting market needs in terms of products. It involves advertising,
promotion, personal selling, and other product-related marketing efforts. |
merger |
[verb] a legal joining of two companies in
which one or both lose their former corporate identity.
The merger of our two
companies will help everyone.
merge [verb]
Our two companies will merge
soon. |
|
Mergers
and Acquisitions |
An
area of banking which deals with the financing of company mergers and
acquisitions. |
middle man |
(1) a
person or company that buys and/or sells between a manufacturer and the consumers.
(2) a person or company that brings together two complementary interests. |
middle manager |
someone
who supervises people or projects and reports to someone higher in the organization. |
minutes |
the
official written record of a meeting. |
misinformation |
false
information planted deliberately in order to mislead someone.
I think they’ve
been giving out misinformation. |
mismanage |
[verb] to do a poor, inadequate, or careless
job of managing.
They mismanaged the project.
mismanagement [noun]
This is a classic example of
mismanagement. |
mission statement |
an
organization’s official statement of its overriding goals and
principles. |
mom-and-pop |
[adjective] describing any small, privately-owned
retail operation, usually in an industry dominated by large chains.
We are certainly not some
mom-and-pop operation. |
moonlight |
[verb] to work at a second job.
He works the day shift at a
factory and moonlights as a bartender evenings. |
Murphy’s
Law |
"If
anything can go wrong, it will." an observation made in 1949 by a frustrated
development engineer named Ed Murphy. |
near term |
a vague
term meaning "the not distant future".
Our near term target is to
penetrate the market. |
