Business studies Glossary key terms

glossary of business administration terms pdf and glossary of business management terms
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Published Date:11-07-2017
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Glossary of business terms Adjective (adj) Headwords for adjectives followed by does not have an object. Phrasal verbs (phr v) are shown information in square brackets only before a noun and after the verb they are related to. not before a noun show any restrictions on where they can be used. Some entries show information on words that are related to Noun (n) The codes C and U show whether a noun, or the headword. Adverbs (adv) are often shown in this way a particular sense of a noun, is countable (an agenda, two after adjectives. agendas) or uncountable (AOB, awareness). Verbs (v) The forms of irregular verbs are given after the Region labels The codes AmE and BrE show whether a headword. The codes I (intransitive) and T (transitive) word or sense of a word is used only in American or show whether a verb, or a particular sense of a verb, has or British English. above board adj not before a noun honest and legal balance sheet n C a document showing a company’s financial position and wealth at a particular time. The acquire v T if one company acquires another, it buys it balance sheet is often described as a ‘photograph’ of a acquisition n C when one company buys another or company’s financial situation at a particular moment part of another company, or the company or part of a 1 bankrupt n C someone judged to be unable to pay their company that is bought debts by a court of law, and whose financial affairs are advertising campaign n C an organization’s handled by a court official until the debts are settled programme of advertising activities over a particular 2 bankrupt adj not having enough money to pay your period with specific aims, for example an increase in sales debts or awareness of a product 3 bankrupt v T to make a person, business, or country go agenda n C 1 a list of the subjects to be discussed at a bankrupt meeting 2 the things that someone considers important or that they bankruptcy nplural bankruptcies C,U when someone are planning to do something about is judged to be unable to pay their debts by a court of law, and their assets are shared among their creditors (=those aggressive adj 1 an aggressive plan or action is intended that they owe money to), or a case of this happening to achieve its result by using direct and forceful methods 2 an aggressive person or organization is very determined bank statement n C information sent regularly by a to achieve what they want bank to a customer, showing the money that has gone into and out of their account over a particular period alliance n C an agreement between two or more organizations to work together barrier to trade also trade barriernplural barriers to trade C something that makes trade between two AOB n U any other business; the time during a meeting countries more difficult or expensive, for example a tax when items not on the agenda can be discussed on imports application n C 1 a formal, usually written, request for benchmark n C 1 something that can be used as a something or for permission to do something comparison to judge or measure other things 2a formal request for work 2 good performance in a particular activity in one 3a practical use for something company that can be used as a standard to judge the same 4a piece of software for a particular use or job activity in other companies —benchmark v T, apply v 1 I to make a formal, usually written request for benchmarking n U something, especially a job, a place at university, or benefits package n C the total amount of pay and all permission to do something the other advantages that an employee may receive such 2 T to use something such as a law or an idea in a as bonuses, health insurance, a company car etc particular situation, activity, or process 1 3 I,T to have an effect on someone or something, or to bid n C 1 an offer to buy something, for example a concern a person, group, or situation company in a takeover, or the price offered 2 an offer to do work or provide services for a fixed price, approximate adj an approximate amount, number etc is a in competition with other offers little more or a little less than the exact amount, number 2 etc —approximately adv bid v past tense and past participle bid present participle bidding 1 I,T to offer to pay a particular price for asset n C something belonging to an individual or a something, for example a company in a takeover business that has value or the power to earn money 2 I to offer to do work or provide services for a fixed attend v I,T to go to an event such as a meeting price, in competition with others attribute n C a characteristic, feature, or quality —bidding n U awareness n U knowledge or understanding of a billboard n C AmE a large sign used for advertising. particular subject, situation, or thing Billboards are usually called hoardings in British English background n C someone’s past, for example their blueprint n C a plan for achieving or improving education, qualifications, and the jobs they have had something 168Glossary board also board of directors n C usually singular the manager with the most authority in the day to day the group of people who have been elected by management of a company, especially in the US. The job shareholders to manage a company of CEO is sometimes combined with others, such as that of president bonus n C an extra amount of money added to an employee’s wages, usually as a reward for doing difficult clock v work or for doing their work well clock in/on phr v I to record on a special card or 1 computer the time you arrive at or begin work boom n C,U 1 a time when business activity increases clock off/out phr v I to record on a special card or rapidly, so that the demand for goods increases, prices and computer the time you stop or leave work wages go up, and unemployment falls 2a time when activity on the stockmarket reaches a high collapse v I if a company, organization, or system level and share prices are very high collapses, it suddenly fails or becomes too weak to 2 continue collapse n C,U — boom v I if business, trade, or the economy is booming, it is very successful and growing commission n C,U an amount of money paid to 1 someone according to the value of goods, services, brand n C a name given to a product or group of investments etc they have sold products by a company for easy recognition 2 compensation n U 1 an amount paid to someone brand v T to give a name to a product or group of because they have been hurt or harmed in some way products 2 the total of pay and benefits for an employee, especially branded adj branded goods or products have brand a high-level manager names competitive advantage n C something that helps you branding n U the activity of giving brand names to to be better or more successful than others products, developing people’s awareness of them etc concept n C an idea for a product, business etc brand leader n C the brand with the most sales in a conman n C someone who tries to get money from particular market people by tricking them brand loyalty n U the degree to which people buy a consortium n plural consortiums or consortia C a particular brand and refuse to change to other brands combination of several companies working together for a brand manager n C someone in a company particular purpose, for example in order to buy something responsible for developing a brand or build something brand stretching n U when a company starts to use an consumer behaviour BrE consumer behavior AmE existing brand name on a different type of product, hoping n U how, why, where, and when consumers buy things, that people will buy it because they recognize the name and the study of this 1 bribe n C money that is paid secretly and dishonestly to controlling interest n C,U the situation where one obtain someone’s help shareholder owns enough shares to control a company 2 bribe v T to dishonestly give money to someone to controlling shareholder also majority shareholder persuade them to do something that will help you n C someone who owns more than half the shares in a bribery n U dishonestly giving money to someone to company persuade them to do something to help you copycat product C a product that copies a broker n C a person or organization whose job is to buy competitor’s idea for a product and sell shares, currencies, property, insurance etc for core adj core business/activity/product the business, others activity etc that makes most money for a company and bureaucracy nplural bureaucracies 1 C a system of that is considered to be its most important and central one governing that has a large number of departments and 1 corrupt adj using power in a dishonest or illegal way in officials order to get money or an advantage of some kind 2 U disapproving all the complicated rules and 2 corrupt v T to encourage someone to behave in an processes of an official system, especially when they are immoral or dishonest way —corrupted adj, corruptible confusing or responsible for causing a delay adj, corruptibility n U buyout also buy-out n C 1 the act of buying a business corruption n U 1 the crime of giving or receiving 2 the act of buying all the shares in a company of a money, gifts, a better job etc in exchange for doing particular shareholder something dishonest or illegal that helps another person or cash flow also cashflow n 1 U the amounts of money company coming into and going out of a company, and the timing 2 when someone who has power or authority uses it in a of these dishonest or illegal way to get money or an advantage 2 C,U profit for a particular period, defined in different 1 counterfeit adj made to look exactly like something ways by different businesses else, usually illegally cash generation n U money that a company gets from 2 counterfeit v T to copy something so that it looks like sales after costs are taken away. Cash generation is often something else, usually illegally —counterfeiter n C used in talking about the degree to which the company is 1 able to do this crash n C 1 a time when many investments lose their value very quickly, usually when investors lose chair n singular 1 the position of being the chairman of a confidence in the market and sell company or organization or the person who is chairman 2 an occasion when a computer or computer software 2 the position of being in charge of a meeting or the suddenly and unexpectedly stops working or fails to work person who is in charge of it properly —chair v T 2 crash v 1 I if stockmarkets, shares etc crash, they Chief Executive Officer (CEO) n C usually singular 169Glossary suddenly lose a lot of value the way a product is made available and sold, the 2 I,T if a computer crashes, or if you crash a computer, organizations involved etc it suddenly and unexpectedly stops working diversify v I 1 if a company or economy diversifies, it crisis nplural crises C,U 1 a period or moment of great increases the range of goods or services it produces difficulty, danger, or uncertainty, especially in politics or 2 to start to put your money into different types of economics investments in addition to the investments you already 2a time when a personal problem or situation has reached have its worst point —diversification n U 1 culture n C,U 1 the ideas, beliefs, and customs that are downmarket also downscale AmE adj involving shared and accepted by people in a society goods and services that are cheap and perhaps not of very 2 the attitudes or beliefs that are shared by a particular good quality compared to others of the same type, or the group of people or in a particular organization people that buy them 2 customs n U the government department responsible downmarket also downscale AmE adv go/move for collecting the tax on goods that have been brought into downmarket/downscale to start buying or selling the country and making sure that illegal goods are not cheaper goods or services imported or exported dress code n C the way that you are expected to dress deceit n C,U when someone tries to gain an advantage in a particular situation, as an employee of a particular for themselves by tricking someone, for example by company etc making a false statement drive n 1 U someone’s energy, motivation, and ability to deceive v T to make someone believe something that is work hard not true in order to get what you want 2 C usually singular an effort to improve or increase the level of something decline v I 1 if an industry or country declines, it 1 becomes less profitable, productive, wealthy etc drop v 1 I to fall to a lower level or amount 2 if sales, output, production etc decline, they become less 2 T to stop doing or planning something —decline n C,U drop away/off phr v I to become lower in level or amount defect n C a fault or the lack of something that means 2 that a product etc is not perfect —defective adj, drop n C usually singular if there is a drop in the defectively adv amount, level, or number of something, it goes down or becomes less demand n U 1 spending on goods and services by companies and people in a particular economy dumping n U the activity of selling products in an 2 the total amount of a type of goods or services that export market cheaper than in the home market, or people or companies buy in a particular period cheaper than they cost to make, usually in order to 3 the total amount of a type of goods or services that increase market share people or companies would buy if they were available durable adj if something is durable, it lasts a long time — demerge v I,T if a company or unit demerges from a durability n U group, or if it is demerged, it becomes a separate company economies of scale n plural the advantages that a —demerger n C bigger factory, shop etc has over a smaller one because it deregulate v T if a government deregulates a particular can spread its fixed costs over a larger number of units business activity, it allows companies to operate more and thus produce or sell things more cheaply freely so as to increase competition —deregulation n U economy drive n C a planned effort by an organization devious adj using dishonest tricks and deceiving people to reduce costs to get what you want —deviously adv, deviousness n U endorse v T if someone, usually famous, endorses a differentiation n U when a company shows how its product, they say how good it is in advertisements. People products are different from each other and from will buy the product because they like or trust the person competing products, for example in its advertising —endorsement n C,U —differentiate v T ethical adj 1 connected with principles of what is right disclosure n 1 C,U the duty of someone in a and wrong professional position to inform customers, shareholders 2 morally good or correct —ethically adv etc about facts that will influence their decisions ethics n plural moral rules or principles of behaviour 2 U the act of giving information about someone by an that should guide members of a profession or organization organization or person who would normally have to keep and make them deal honestly and fairly with each other that information secret, for example when a bank gives and with their customers information about a customer’s accounts to the police etiquette n U the formal rules for polite behaviour 3 C a fact which is made known after being kept secret expand v 1 I,T to become larger in size, amount, or dismissal n C,U when someone is removed from their number, or to make something larger in size, amount, or job by their employer number disposal n 1 U the act of getting rid of something 2 I if a company expands, it increases its sales, areas of 2 C an asset that is sold, and the act of selling it activity etc dispose v T 1 if you dispose of something, you get rid —expansion n U of it extort v T to illegally force someone to give you money 2 formal if a company disposes of a particular asset, by threatening them —extortion n U activity etc, it sells it facility nplural facilities 1 C a place or large building distribution channel also distribution chain n C which is used to make or provide a particular product or 170Glossary service example a card game or a sporting event such as a horse 2 facilities plural special buildings or equipment that race have been provided for a particular use, such as sports global adj 1 affecting or involving the whole world activities, shopping or travelling 2 including and considering all the parts of a situation 1 fake adj made to look like something valuable or genuine together, rather than the individual parts separately in order to deceive people —globally adv 2 fake n C a copy of an original document, valuable global economy n singular the economy of the world object etc that is intended to deceive people into believing seen as a whole it is the real document, object etc globalization also -isation BrE n U the tendency for 1 fall v past tense fell past participle fallen v I to go down the world economy to work as one unit, led by large to a lower price, level, amount etc international companies doing business all over the world 2 fall n C 1 a reduction in the amount, level, price etc of globalize also -ise BrE v I,T if a company, an industry, something or an economy globalizes or is globalized, it no longer 2 when a person or organization loses their position of depends on conditions in one country, but on conditions in power or becomes unsuccessful the world as whole fiddle n C BrE informal 1 a dishonest way of getting goodwill payment n C a payment made by a supplier money or not paying money to a customer because of a problem the customer has had, 2 be on the fiddle to be getting money dishonestly or for example with quality or late delivery of goods illegally gross domestic product (GDP) n singular the total flaw n C 1 a mistake or weakness in a machine, system value of goods and services produced in a country’s etc that prevents it from working correctly economy, not including income from abroad 2a mistake in an argument, plan, or set of ideas gross domestic product per capita n singular the flexible adj 1 a person, plan etc that is flexible can change total value of goods and services produced in a country or be changed easily to suit any new situation divided by the number of people living there 2 if arrangements for work are flexible, employers can grow v past tense grew past participle grown 1 I to ask workers to do different jobs, work part-time rather increase in amount, size, or degree than full-time, give them contracts for short periods etc. 2 T if you grow a business activity, you make it bigger Flexible working also includes job-sharing and working growth n U an increase in size, amount, or degree from home —flexibility n U headquarters n plural the head office or main building flexitime BrE also flextime AmE n U a system in of an organization —headquartered adj which people who work in a company do a fixed number hoarding n C a large sign used for advertising. of hours each week, but can choose what time they start Hoardings are called billboards in American English or finish work within certain limits hot-desking n U when people working in an office do flight of capital also capital flight n U when money not each have their own desk, but work where there is one is moved rapidly out of a country, usually because its available economy is doing badly or there is political uncertainty incentive n C something which is used to encourage fluctuate v I if prices, income, rates etc fluctuate, they people, especially to make them work harder, produce change, increasing or falling often or regularly more or spend more money fluctuating adj income statement n C AmE a financial document fluctuation n C,U the movement of prices, income, showing the amount of money earned and spent in a rates etc as they increase and fall particular period of time by a company. This is usually focus n U when a company serves particular groups of called the profit and loss account in British English customers in a market with particular needs, rather than incremental adj 1 an incremental process is one where serving the whole market things happens in small steps focus group n C a group of people brought together to 2 an incremental amount, sum etc is small when discuss their feelings and opinions about a particular considered by itself subject. In market research, focus groups discuss their industrial espionage n U the activity of secretly opinions of products, advertisements, companies etc finding out a company’s plans, details of its products etc 1 franchise n C 1 an arrangement in which a company infant industry n C an industry in its early stages of gives a business the right to sell its goods or services in development in a particular country. Some people think return for payment or a share of the profits that infant industries should be helped with government 2a particular shop, restaurant etc that is run under a money and protected from international competition by franchise, or a company that owns a number of these import taxes etc 2 franchise v I,T to sell franchises to people — infrastructure n C,U 1 the basic systems and structures franchising n U that a country needs to make economic activity possible, franchisee n C someone who is sold a franchise and for example transport, communications, and power operates it supplies free port n C a port where import duty does not have to 2 the basic systems and equipment needed for an industry be paid on imports that are to be sent to another country to or business to operate successfully or for an activity to be sold, or used to manufacture goods that will be sold happen abroad innovate v I to design and develop new and better gambling n U the practice of risking money or products —innovator n C possessions on the result of something uncertain, for 171Glossary innovation n 1 C a new idea, method, or invention state controlling or influencing them 1 2 U the introduction of new ideas or methods launch v T 1 to show or make a new product available innovative adj 1 an innovative product, method, process for sale for the first time etc is new, different, and better than those that existed 2 to start a new company before 3 to start a new activity, usually after planning it carefully 2 2 using clever new ideas and methods —innovatively adv launch n C 1 an occasion at which a new product is insider trading n U when someone uses knowledge of shown or made available for sale or use for the first time a particular company, situation etc that is not available to 2 the start of a new activity or plan other people in order to buy or sell shares. Insider trading letter of credit (l/c) n plural letters of credit C in is illegal foreign trade, a written promise by an importer’s bank to integrity n U 1 the state of being united or kept together pay the exporter’s bank on a particular date or after a as one whole, and therefore strong, unit particular event, for example when the goods are sent by 2 complete honesty the exporter 1 interest n 1 U an amount paid by a borrower to a lender, level n C 1 the measured amount of something that for example to a bank by someone borrowing money for a exists at a particular time or in a particular place loan, or by a bank to a depositor (=someone keeping 2 all the people or jobs within an organization, industry money in an account there) etc that have similar importance and responsibility 2 2 U the interest rate at which a particular sum of money level v past tense and past participle levelled BrE also is borrowed and lent leveled AmE present participle levelling BrE also 3 U the part of a company that someone owns leveling AmE 4 C the possession of rights, especially to land, property level off/out phr v I to stop climbing or growing and etc become steady or continue at a fixed level interpreter n C someone who translates what someone liability n 1 singular an amount of money owed by a says from one language into another, especially as their business to a supplier, lender, or other creditor job 2 liabilities plural the amounts of money owed by a inventory nplural inventories C,U AmE 1 a supply of business considered together, as shown in its balance raw materials or parts before they are used in production, sheet or a supply of finished goods. Inventories of raw materials 3 U a person’s or organization’s responsibility for loss, or parts are usually called stocks in British English damage, or injury caused to others or their property, or for 2a supply of goods, kept for sale by a shop or other payment of debts retailer. Inventories of goods are usually called stocks in liberalize also -ise BrE v T to make a system, laws, or British English moral attitudes less strict —liberalization n U inventory control n U AmE making sure that supplies limited company also limited liability company n of raw materials, work in progress, and finished goods are C a company where individual shareholders lose only managed correctly. Inventory control is called stock the cost of their shares if the company goes bankrupt, and control in British English not other property they own ISO n 1 the name used internationally for the International logo nplural logos C a design or way of writing its Organization for Standardization, whose purpose is to name that a company or organization uses as its official establish international standards for services, goods, and sign on its products, advertising etc industrial methods loophole n C a small mistake in a law that makes it 2 ISO 9000 the ISO’s quality standard for companies possible to do something the law is supposed to prevent producing goods you from doing, or to avoid doing something that the law 3 ISO 9001/9002 the ISO’s quality standards for is supposed to make you do companies providing services lose v past tense and past participle lost present participle jet lag n U the tired and confused feeling you can get losing T 1 to stop having something any more, or to after flying a very long distance have less of it jingle n C a short song or tune used in advertisements 2 to have less money than you had before or to spend joint venture n C a business activity in which two or more money than you are receiving more companies have invested together 3 to fall to a lower figure or price kickback n C informal a bribe (=money that is paid 4 lose something (to sb/sth) to have something such secretly and dishonestly to obtain someone’s help) as a contract or customers taken away by someone or something KISS informal keep it simple, stupid; keep it short and 5 lose ground to become less in value or to lose an simple. Used to say that a method for doing something advantage should be kept simple, in order to avoid mistakes loss n 1 C,U the fact of no longer having something that knowledge worker n C someone whose job involves you used to have dealing with information, rather than making things 2 C when a business or part of a business spends more labor union n C AmE an organization representing money in costs than it gets in sales in a particular period, people working in a particular industry or profession, or loses money on a particular deal, problem etc especially in meetings with their employers. Labor unions loyal adj if customers are loyal to a particular product, are called trade unions in British English they continue to buy it and do not change to other laisser-faire also laissez-faire n U the idea that products —loyalty n U governments should do as little to the economy as margin also profit margin n C,U the difference possible and allow private business to develop without the 172Glossary between the price of a product or service and the cost of optimize also -ise BrE v T to make the best possible producing it, or between the cost of producing all of a use of something or to do something in the best possible company’s products or services and the total sum they are way sold for overtime n U 1 time that you spend working in your job market challenger n C an organization or product that in addition to your normal working hours may take the place of the organization or product that has 2 time that a factory, office etc is operating in addition to the highest sales in its market or industry its normal hours 3 the money that you are paid for working more hours marketing mix n C usually singular the combination of than usual marketing actions often referred to as product, price, place, and promotion: selling the right product, through partner n C 1 a company that works with another appropriate distribution channels, at the right price in company in a particular activity, or invests in the same relation to other products and for the profitability of the activity company, with the correct support in terms of advertising, 2 someone who starts a new business with someone else sales force etc by investing in it 3a member of certain types of business or professional market leader n C an organization or product that has groups, for example partnerships of lawyers, architects etc the highest sales, or one of the highest sales, in its market 4 also economic partner a country that invests in or industry another or is invested in by another, or that trades with market nicher n C a product or service sold in a niche another market (=a market for a product or service, perhaps an 5 also trade partner, trading partner one country expensive or unusual one, that does not have many that trades with another buyers) or the company that sells it partnership n 1 C a relationship between two people, merchandise n U goods that are produced in order to organizations, or countries that work together be sold, especially goods that are sold in a store 2 U the situation of working together in business merge v I,T if two or more companies, organizations etc 3 C a business organization made up of a group of merge, or if they are merged, they join together accountants, lawyers etc who work together, or of a group merger n C an occasion when two or more companies, of investors organizations etc join together to form a larger company 1 patent n C an legal document giving a person or etc company the right to make or sell a new invention, middleman nplural middlemen C a person, business, product, or method of doing something and stating that no organization etc that buys things in order to sell them to other person or company is allowed to do this someone else, or that helps to arrange business deals for 2 patent v T to obtain a patent, protecting the rights to other people make or sell a new invention, product, or method of doing mission statement n C a short written statement made something patented adj only before a noun by an organization, intended to communicate its aims to 1 peak n C the time when prices, shares etc have reached customers, employees, shareholders etc their highest point or level model n C 1 a particular type or design of a vehicle or 2 peak adj 1 peak level/price/rate etc the highest machine level, etc something reaches 2a simple description or structure that is used to help 2 peak time/period/hours/season the time etc when people understand similar systems or structures the greatest number of people are doing the same thing, 3 the way in which something is done by a particular using the same service etc country, person etc that can be copied by others who want 3 peak v I to reach the highest point or level similar results phone rage U angry behaviour on the telephone by morale n U the level of confidence and positive feelings people who are not satisfied with the service they are among a group of people who work together receiving etc motivate v T 1 to encourage someone and make them pioneer n C the first person or organization to do want to achieve something and be willing to work hard in something that other people and organizations will later order to do it develop or continue to do —pioneer v T, pioneering 2 to provide the reason why someone does something adj —motivating adj plummet v I,T to suddenly and quickly go down in motivated adj very keen to do something or achieve value or amount —plummet n C something, especially because you find it interesting or point-of-sale advertising n U advertising for a exciting product in places where it is sold motivation n 1 U eagerness and willingness to do prime time n U the time in the evening when most something without needing to be told or forced to do it people are watching television, and the cost of advertising 2 C the reason why you want to do something is at its most expensive nepotism n U the practice of giving jobs to members of product portfolio n C all of a company’s products your family when you are in a position of power considered as a group niche market n C a market for a product or service, profit and loss account n C BrE a financial perhaps an expensive or unusual one that does not have document showing the amount of money earned and spent many buyers but that may be profitable for companies in a particular period of time by a company. This is who sell it usually called the income statement in American English open-plan office n C open-plan offices do not have promotion n 1 C,U a move to a more important job or walls dividing them into separate rooms 173Glossary rank in a company or organization recruiting new people 2 C also sales promotion an activity such as special 2 C an occasion when someone is recruited advertisements or free gifts intended to sell a product or redundancy nplural redundancies especially BrE 1 U service when someone loses their job in a company because the protectionism n U the idea that a government should job is no longer needed try to help an industry in its country by taxing foreign 2 C usually plural a person who has lost their job in a goods that compete with it, limiting the number that can company because the job is no longer needed be imported etc, and the actions that it takes to do this — redundant adj especially BrE if you are redundant or protectionist adj, protectionist n C made redundant, your employer no longer has a job for prototype n C the first form that a new design of a car, you machine etc has reference n C 1 a letter written by someone who knows public limited company (PLC) n C a limited you well, usually to a new employer, giving information company whose shares are freely sold and traded, in about your character, abilities, or qualifications Britain public limited companies have the letters PLC 2a person who provides information about your after their name character, abilities, or qualifications when you are trying to get a job qualification n 1 C usually plural an examination that you have passed at school, university, or in your reliable adj someone or something that is reliable can be profession trusted or depended on —reliability n U 2 C a skill, personal quality, or type of experience that relocate v I,T if a company or workers relocate or are makes you suitable for a particular job relocated, they move to a different place —relocation n quality circle n C a small group of employees who C,U meet regularly to discuss ways to improve working resign v I,T to officially leave a job, position etc usually methods and to solve problems through your own choice, rather than being told to leave quota n C an official limit on the number or amount of —resignation n C something that is allowed in a particular period resource n 1 C usually plural also natural resource R and D n U research and development; the part of a something such as oil, land, or natural energy that exists business concerned with studying new ideas and in a country and can be used to increase its wealth developing new products 2 resources plural all the money, property, skill, labour etc that a company has available rationalize also -ise BrE v I,T to make a business or organization more effective by getting rid of unnecessary restriction n C an official rule that limits or controls staff, equipment etc, or reorganizing its structure — what people can do or what is allowed to happen rationalization n C,U retailer n C 1 a business that sells goods to members of real estate n AmE U land or buildings and the business the public, rather than to shops etc of buying and selling them 2 someone who owns or runs a shop selling goods to members of the public recall v T 1 if a company recalls one of its products, it asks customers to return it because there may be retail outlet n C a shop through which products are sold something wrong with it —recall n C to the public 1 2 to remember something that you have seen or heard, rise v past tense rose past participle risen I to increase such as an advertisement —recall n U in number, amount, or value 2 receipt n 1 U the act of receiving something rise n 1 C an increase in number, amount, or value 2 C a document given by someone, showing that they 2 C BrE an increase in salary or wages. A rise is called a have received money, goods, or services raise in American English 3 receipts plural money that has been received 3 singular the process of becoming more important, recession n C,U a period of time when an economy or successful, or powerful industry is doing badly, and business activity and rocket also rocket up v I if a price or amount rockets employment decrease. Many economists consider that or rockets up, it increases quickly and suddenly there is a recession when industrial production falls for 1 sample n C 1 a group of people who have been chosen six months in a row to give opinions or information about something recover v 1 I to increase or improve after falling in 2a small amount of a product that people can try in order value or getting worse to find out what it is like 2 T to get back money that you have spent or lost 2 sample v T 1 to ask questions to a group of people 3 T to get back something that was stolen, lost, or chosen from a larger group, in order to get information or almost destroyed opinions from them, so as to better understand the larger recovery nplural recoveries 1 C,U when prices group increase, or when the economy grows again after a period 2 to try a small amount of a product in order to find out of difficulty what it is like 2 U the act of getting something back, such as money second v T to officially support a suggestion, idea etc that you are owed made by another person at a formal meeting so that it can 1 recruit v I,T to find new people to work for an be discussed or voted on —seconder n C organization, do a job etc security n plural securities 1 U actions to keep someone 2 recruit n C someone who has recently joined a or something safe from being damaged, stolen etc company or organization 2 U a feeling of being safe and free from worry about recruitment n 1 U the process or the business of what might happen 174Glossary 3 U property or other assets that you promise to give 2 also stocks a supply of a commodity (=oil, metal, farm someone if you cannot pay back the money that you owe product etc) that has been produced and is kept to be used them when needed 4 C a financial investment such as a bond or share, or 3 especially BrE a supply of raw materials or parts before the related certificate showing who owns it they are used in production, or a supply of finished goods. 1 Stocks of raw materials or parts are usually called segment n C 1 a part of the economy of a country or a inventories in American English company’s work 4a supply of goods, kept for sale by a shop or other 2 also market segment a group of customers that retailer. Stocks of goods are usually called inventories in share similar characteristics, such as age, income, American English interests, social class etc 3 also market segment the products in a particular stock control n U BrE making sure that supplies of part of the market raw materials, work in progress, and finished goods are 2 managed correctly. Stock control is called inventory segment v T to divide a large group of people into control in American English smaller groups of people of a similar age or with similar incomes, interests etc. Companies segment markets so as straight adj be/play straight with sb to be honest and to be able to sell to each group the products that are most truthful with someone suitable for it —segmentation n U strategic adj done as part of a plan to gain an advantage sell-off n C when a business, company etc, or part of or achieve a particular purpose —strategically adv one, is sold to another company strategy nplural strategies 1 C a plan or series of plans share n C one of the parts into which ownership of a for achieving an aim, especially relating to the best way company is divided for an organization to develop 2 U the process of skilful planning in general share capital n U capital in the form of shares, rather than in the form of loans stress n U continuous feelings of worry about your work or personal life, that prevent you from relaxing — shareholder n C someone who owns shares in a stressful adj company stressed also stressed out adj if someone is stressed skill n C,U an ability to do something well, especially or stressed out, they are so worried and tired that they because you have learned and practised it cannot relax sleaze n U immoral behaviour, especially involving subliminal advertising n U when images appear very money or sex sleazy adj quickly during a television or cinema advertisement with sleeping partner n C a partner who invests in a effects that people are not conscious of business but does not take an active part in managing it 1 subsidiary also subsidiary company n plural slip v past tense and past participle slipped present subsidaries C a company that is at least half-owned by participle slipping I to become worse or less or fall to a another company lower amount, standard etc than before 2 subsidize also -ise BrE v T if a government or slip n singular an occasion when something becomes organization subsidizes a company, activity etc, it pays worse or becomes less or lower part of the cost —subsidized adj slot n C a particular time when a television programme subsidy nplural subsidies C money that is paid by a or advertisement is shown government or organization to make something cheaper to slush fund n C usually singular an amount of money buy, use, or produce collected for illegal purposes, especially by a politician sweetener n C 1 something used to make an offer, sole trader n C a legal form of company in some suggestion etc more attractive countries for someone who has their own business, with 2a bribe (=illegal or unfair payment made to someone to no other shareholders persuade them to do something) speculate v 1 I to buy goods, shares, property etc in the swindle v T to get money from someone dishonestly by hope that their value will increase so that you can sell deceiving them —swindle n C, swindler n C them at a higher price and make a profit, often quickly tactic n C usually plural a method that you use to 2 I,T to think or talk about the possible causes or effects achieve something of something without knowing all the facts or details tactical adj done in order to achieve what you want at a speculation n U later time, especially in a large plan speculative adj 1 bought or done in the hope of making a tailor v T to make something or put something together profit so that it is exactly right for someone’s needs —tailored 2 based on guessing, not on information or facts adj stabilize also -ise BrE v I,T to become firm, steady, or take v past tense took past participle taken unchanging, or to make something do this take over phr v I,T 1 to take control of something stake n C usually singular money risked or invested in a 2 to take control of a company by buying more than half business of its shares stand v past tense and past participle stood takeover n C the act of getting control of a company by stand at phr v I to be at a particular level or amount buying more than half of its shares start-up n C a new company takeover target n C a company that may be bought or stock n C,U 1 especially AmE one of the shares into that is being bought by another company which ownership of a company is divided, or these shares 1 target n C 1 an organization, industry, country etc that considered together 175Glossary is deliberately chosen to have something done to it 3 to get a better seat on a plane, a better rented car etc 2a result such as a total, an amount, or a time which you than the one you paid for, or give someone a better seat aim to achieve etc than the one they paid for 2 2 target v T 1 to make something have an effect on a upgrade n C 1 the act of improving a product or particular limited group or area service, or one that has been improved 2 to choose someone or something as your target — 2 new computer software that replaces previous software targeted adj of the same type 3 an occasion when someone is given a better seat on a tariff n C usually plural a tax on goods coming into a plane, a better rented car etc, than the one they paid for country or going out of it 1 upmarket also upscale AmE adj involving goods and teaser n C an advertisement intended to get people’s services that are expensive when compared to others of attention for advertisments that will come later or the same type, or the people that buy them products that will be available later 2 upmarket also upscale AmE adv go/move total quality management (TQM) n U the upmarket/upscale to start buying or selling more management of systems in a company in order to make expensive goods or services sure that each department is working in the most effective way and to improve the quality of the goods the company voice mail n U a system for leaving messages for produces people by telephone, or the messages themselves track record n C usually singular all the things that a volume n C,U 1 the amount of space that a substance or person or organization has done in the past, which shows object contains or fills how good they are at doing their job, dealing with 2 the total amount of something problems etc warranty nplural warranties C,U a written promise trade union also trades union n C BrE an that a company gives to a customer, stating that it will organization representing people working in a particular repair or replace a product they have bought if it breaks industry or profession, especially in meetings with their during a certain period of time. Warranty is another word employers. Trade unions are called labor unions in for guarantee American English —trade unionist n C welfare n U help that is given by government to people transaction n C 1 a business deal, especially one with social or financial problems because they are involving the exchange of money unemployed, ill etc 2 the act of paying or receiving money whistleblower n C someone working for an transition n C,U formal the act or process of changing organization who tells the authorities that people in the from one state or form to another organization are doing something illegal, dishonest, or wrong trend n C the general way in which a particular situation is changing or developing wholesaler n C a person or company that sells goods in large quanitities to other businesses, who may then sell trial n 1 C a legal process in which a court of law them to the general public examines a case to decide whether someone is guilty of a crime withdraw v past tense withdrew past participle 2 C usually plural a process of testing a product to see withdrawn T 1 to take money out of a bank account whether it is safe, effective etc trial v T, trialling n U 2 to remove something or take it back, often because of an 1 official decision triple adj only before a noun having three parts or 3 if a company withdraws a product or service, it stops members 2 making it available, either for a period or permanently triple v I,T to become three times as much or as many, withdrawal n 1 C,U the act of taking money out of a or to make something do this bank account, or the amount you take out turnaround also turnround BrE n C usually singular 2 U the removal or stopping of something such as 1 the time between receiving an order for goods, dealing support, an offer, or a service with it, and sending the goods to the customer 3 C,U also product withdrawal the act of no longer 2a complete change from a bad situation to a good one making a product available, either for a period or 3a complete change in someone’s opinion or ideas permanently turnover n singular 1 BrE the amount of business done 4 U the act of no longer taking part in an activity or in a particular period, measured by the amount of money being a member of an organization obtained from customers for goods or services that have workforce n C all the people who work in a particular been sold country, area, industry, company, or place of work 2 the rate at which workers leave an organization and are zero defects n plural the aim of having no faults at all replaced by others in products that are produced 3 the rate at which goods are sold unique selling proposition also unique selling point (USP) n C usually singular the thing that makes a particular product different from all other similar products unscrupulous adj behaving in an unfair or dishonest way —unscrupulously adv, unscrupulousness n U 1 upgrade v I,T 1 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 176