Glossary
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the difference between the price of the finished product/service and the cost of the inputs involved in making it
Adding Value
An annual general meeting is a madator yearly gathering of a company's interested shareholders
AGM
provides medium medium or long term finance
Bank Loan
a payment that is added to what is usual
Bonus
the name of a product that is made by a particular company
Brand
it is the point at which cost or expenses and revenue are equal
Break Even
it is a formal written document containing business goals,that need to be achieved
Business Plan
it is the money spent by a business on acquiring or maintaining fixed assests
Capital Expenditure
it is a cost that will be an expense in the accounting period when the expenditure takes place
Revenue Expenditure
something that is made in a factory or that is formed naturally
Product
it is anything that draws good attention towards these things
Advertisement
goods bought and used by consumers rather than by manufactures for producing other goods
Consumer Goods
corporate social responsibility is a type of international private business self-regulation
CSR
it is the assignment of any authority to person to carry out specific activities
Delegation
the monetary value of an asset decreases over time due to use,wear and tear or obsolescence
Depriciation
to divide something between two or more people
Shares
it is a type of debt instuments unsecured by collateral
Debenture
income remaining after deduction of taxes and social security charges, available to be spent or saved as one wishes
Disposable Income
official permission to sell a company's goods or services in a particular area
Franchise
the skills and methods used in selling or promoting commercial products
Salesmanship
An agreement that allows you to borrow money from a bank or similar organization, especially in order to buy a house
Mortgage
A deficit in bank account caused by drawing more money than the account holds.
Overdraft
An item of value owned by an individual or an organisation.
Assets
Sacrifices that an entity is obliged to make, as a result of past transactions
Liabilities
Strategy where prices of a product initally set low in order to attract more customers
Penetration Pricing
Condition in which shareholders are legally responsible for the debts of company, only to the extent of their investment.
Limited Liability
A entity which sells goods in a large quantity
Wholesaler
An entity which sells goods in small quantity for consumption, rather than resale.
Retailer
An entity with an interest in something, especially business.
Stakeholders
A compulsory financial charge levid upon taxpayer by the government in order to fund public expenditures.
Tax
Activity of gathering information about consumers needs and preferences.
Market Research
The state of having paid work.
Employment
Long term rent
Leasing
A person’s contentedness with their job
Job Satisfaction
Reason for acting or behaving in a certain manner.
Motivation
A system by which a buyer pays for a thing in regular installments while enjoying the use of it.
Hire Purchase
The action of finding new people to join an organisation
Recruitment
The act of carefully choosing someone as being the most suitable for a particular job
Selection
The act of teaching a person a particular skill
Training
Commercial transactions conducted electronically on the internet
E Commerce
collateral is a property or other asset that a borrower offers as a way for a lender to secure the loan
Colleteral
Chain of command refers to a comapny's heirarchy of reporting relationships from the bottom of the to the top of an organization
Chain of Command
a purchaser of a good or service in retail
Consumer
process of quantifying costs and benefits of a decision, program, project in order to have a single scale of comparison for fair evaluation
Cost Benefit Analysis
delegation is the assignment of any authority to another person to carry out specific activities
Delegation
they are a portion of a company's earnings which it returns to investors, usually as a cash payment
Dividend
Termination of employment by an employer against the will of the employee
Dismissal
a periodic cost that remains more or less the same irrespective of the output level or sales revenue
Fixed Cost
it is a corporate expense that changes in proportion to a production output
Variable Cost
a mixture of fixed and variable components
Semi Variable Cost
company's cash and other assets that are expected to be converted to cash within one year of the date appearing in the heading of company's balance sheet
Current Assets
training that an employee recieves when he/she first joins a business or organization
Induction Training
action taken by employees of a company as a protest, especially striking or working to rule
Industrial Action
A benefit, profit, or value of something that must be given up to acquire or achieve something else
Opportunity Cost
A market strategy where a firm decides to ignore market segment differences and appeal the whole market with an offer or strategy
Mass Marketing
the activity of providing financial services to poor people or new businesses that cannot use traditional banking services
Micro Finance
a person that makes someone entusiastic about doing something
Motivators
the business of promoting and selling a product or service to a specialized segment of a market
Niche Marketing
the proportion of a firm's workforce that leaves during the course of a year
Labour Turnover
the state of being a partner in business
Partnership
it is a formal document that is required by and filed with the securities and exchange commission that provides details about an investment offering for sale to the public
Prospectus
the sector of the economy concerned with or relating to primary industry
Primary Sector
the sector of the economy concerned with or relating to secondary industry
Secondary Sector
the sector of an economy concerned with or realting to tertiary industry
Tertiary Sector
advancement of an employee's rank or position in a hierarchical structure
Promotion
it is considered to be the private cost plus externalities
Social Cost
it is a legal document relating to the formation of a company or corporation
Certificate of Incorporation
the act of sharing or exchanging information ,ideas, or feelings
Communication
it is the act of suppoting an event, activity, person, or organization financially or through the provision of products or services
Sponsorship
is an association of workers forming a legal unit usually called bargaining unit
Trade union
co-operation between those who are working on a task
Team Working
economic development that is conducted without depletion of natural resources
Sustainable Development
a situation in which someone loses their job because their employer does not need them
Redundancy
it is the free movement of goods, services and people across the world in a seamless and integrated manner
Globalisation
The transfer of a business, industry or service from public to private ownership and control
Privatisation
The removal or loosening of restrictions on something, typically an economic or political system
Liberlisation
Process of marketing a good or service using the internet
E marketing
Sending goods or services to another country for sale
Export
Bringing goods and services into a country from abroad for sale
Import
A centre to which goods are brought for import and export.
Entrepot
A formal account of an employee’s responsibilities
Job Description
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Job Analysis
Takeover
Merger
Conglomerate Integration
Horizontal Integration
Vertical Integration
Packing
Market Share
Market Segment
Debts
Exchange Rate
Centralised
Delayering
Span of Control
Paralanguage
Proxemics
Controlling
Capital Goods
Allocative efficiency
Aggregate Demand
The process of determing the duties, task or activities of a job
Buying out of one comany by another
Agreement that unites two existing companies into one new compay
Merger between firms that are involved in totally unrelated business activities
Process of a company increasing production of goods or services at the same part of the supply chain.
When a company controls more than one stage of the supply chain.
Material used to protect goods in transit
The portion of a market controlled by a particular company
Process of dividing a market into groups based on different chararacteristics
amount owed for funds borrowed
price of one currency in terms of another currency
process in which activities involving planning and decision-making within an organization
process of removing layers of heirarchy between highest and lowest levels to boost efficiency and decrease wage bill
number of subordinates under the manger's direct control
A component of speech, other than words, for example, intonations, pitch and speed of speaking.
Study of how human use space, and effects that population density has on behaviour, communication and social interaction
Controlling means setting standards, measuring actual performance and taking corrective action
goods that are used in producing other goods, rather than being bought by consumers
it is a state of the economy in which production represents consumer preferences
the total demand for final goods and services in an economy at a given time