| Standing Order - In the UK. an instruction given to a | | | | term for fixing the defects in a product, process, |
| bank to debit a fixed amount of money from an | | | | system, etc., then repeating as new defects appear, |
| account, usually every month on the same date, to | | | | rather than re-engineering it with fewer defects. |
| pay a bill, mortgage, etc. | | | | Turntablist - A person who uses vinyl records, a |
| Standing Room Only - A sales technique in which a | | | | turntable of a record player and a DJ mixer all |
| company or individual selling a product gives the | | | | together as an instrument to create sounds. |
| impression that many people wish to buy the | | | | Tycoon - A wealthy, prominent, successful business |
| product, encouraging people to purchase it | | | | person, also referred to as a mogul, magnate, baron |
| immediately in case it sells out and they don't get | | | | ,etc. |
| another chance. | | | | Tyre Kicker - A person who appears to be |
| State Benefit - In the UK, money given by the | | | | interested in purchasing an item, especially a |
| government to people who don't have enough funds | | | | secondhand car, but has no intention of buying it. |
| to live on and need financial assistance, often | | | | Ultra Vires - Latin for 'Beyond The Powers'. Legal |
| because they are unemployed or too ill to work. | | | | term which refers to actions or deeds, especially |
| State Of The Art - The highest level of development | | | | performed by a corporation, that exceed official |
| and/or technology applied to a product or service | | | | powers. |
| which is currently available. | | | | Unanimous - A complete agreement on a decision or |
| Statistician - A person who specialises in or works | | | | opinion by everyone in a group. |
| with statistics. | | | | Unauthorised - Without official endorsement or |
| Status Enquiry - In the UK, a request made to a | | | | permission. |
| bank asking for a report on a person's financial | | | | Unbundling - Dividing a company into separate |
| status, i.e., whether they can repay a loan, mortgage, | | | | companies, usually after a takeover, in order to sell |
| etc. | | | | some or all of the subsidiaries. Supplying a product, |
| Staycation - US term for spending one's vacation at | | | | service or equipment in separate components. |
| home or near to one's home. | | | | Uncalled Capital - The value of shares which have |
| Stealth Marketing - Also known as Buzz Marketing. A | | | | been issued by a company but which have not yet |
| method of advertising a product where customers | | | | been paid for by the shareholders. |
| don't realise they are being persuaded to buy | | | | Unconsolidated - Describes subsidiary companies |
| something, e.g., people recommending a product on | | | | whose financial statements, shares, etc., are not |
| Internet Chat Forums, without others realising that | | | | included in the parent company's finances. |
| the person actually works for the company or | | | | Uncontested - Without opposition or competition. A |
| manufacturer selling the product. | | | | lawsuit which is not disputed by the person against |
| Steering Committee - Also called Steering Group. A | | | | whom it has been filed. |
| group of people who are responsible for monitoring a | | | | Undercut - To sell a product, service, etc., cheaper |
| company's operations or project progress, by | | | | than the competition. |
| ensuring it complies with company policies, resources | | | | Undermanned - Describes a company, business, etc., |
| and costs are approved, etc. | | | | which does not have enough workers to function |
| Stenographer - A shorthand typist. From Greek: | | | | properly. Understaffed. |
| Stenos (narrow) and Graphie (writing) | | | | Undershoot - To fall short of reaching a goal or |
| Sterling - The basic monetary unit of the UK, e.g. the | | | | target. |
| pound. | | | | Undersubscribed - When a product, service, etc., is |
| Stet - Latin for 'let it stand', a term from printing, | | | | not being bought by enough people. |
| which extends to proof-reading and copy-checking, | | | | Underwriter - A person who assesses the risk and |
| editing, etc., to indicate that a word or section | | | | eligibility of an insurance company's potential client. On |
| marked for deletion (crossed through) within a | | | | the Stock Market, an organisation, such as a bank, |
| document or other media is to be retained. | | | | that agrees to purchase any unsold shares which are |
| Stevedore - Also called Longshoreman. A person who | | | | offered for sale by a company. |
| works on the docks, loading and unloading cargo. | | | | Undischarged Bankrupt - A person who has officially |
| Sticker Shock - A US term for the feeling of surprise | | | | been declared bankrupt but has not yet been given |
| or shock experienced by some customers when | | | | permission to start another business, and must not |
| they see that the price of an item they were | | | | stop paying debts which are still owed. |
| thinking of purchasing is much higher than they | | | | Unearned Income - Personal income which has not |
| expected. | | | | come from employment but from investments, |
| Stipend - A fixed, often modest, payment, usually | | | | dividends, interest, etc. |
| made on a regular basis, to someone, e.g. an | | | | Unemployment - An economic situation in which |
| apprentice, for living expenses during a training period. | | | | jobless people, often those who have been made |
| Stock - An investor's share of ownership in a | | | | redundant from their jobs, are actively seeking |
| company which entitles them to equity in the | | | | employment. |
| company, dividends, voting rights, etc. | | | | Unfair Dismissal - Term used when a person's |
| Stock Exchange - An organised market place where | | | | employment is terminated by their employer without |
| shares in companies are traded by professional | | | | a good reason. |
| stockbrokers. | | | | Unfavourable Trade Balance - Describes when a |
| Stock Ticker - A display which automatically updates | | | | country's value of its imports exceeds the value of |
| and shows the current prices and volumes of traded | | | | its exports. |
| shares on the Stock Market. | | | | Unhappy Camper - Someone who has complaints |
| Stockbroker - A person or company who buys and | | | | about their employers. An unsatisfied customer. |
| sells shares, bonds, etc., on behalf of others, in return | | | | Unilateral - Performed by one person, group, side, |
| for a fee. | | | | party, etc - basically 'going alone'. For example a |
| Stocktaking - The process of listing all the items, | | | | unilateral decision is one made without dependence or |
| materials or goods which a shop, company, etc., has | | | | condition upon others who might have interests in |
| in stock. An inventory of merchandise. | | | | the matter in question. |
| Storyboard - Used in films, TV programs, etc., | | | | Unilateral Contract - A one-sided agreement in which |
| drawings or photographs which are illustrations of the | | | | one party promises to do something (or refrain from |
| scenes which are to be shot. | | | | doing something) in return for an action, not a |
| Straight Rebuy - When a business or individual orders | | | | promise, from a second party. |
| the same goods, in the same quantity from the | | | | Unique Visitor - Describes a person who visits a |
| same supplier. | | | | website, as one unit, even if they have made several |
| Strapline - A subheading in a newspaper or magazine. | | | | visits to the same site in a particular period of time, |
| A slogan attached to a well known brand. | | | | usually 24 hours. |
| Strategic Industry - An industry which is considered | | | | Unit Trust - A fund which raises money from a |
| essential to the economy of a region or country. | | | | number of investors, usually investing only a small |
| Strategic Management - The process of predicting | | | | amount each, which is then invested on their behalf |
| and assessing a company's opportunities and | | | | by a fund manager in a range of shares, securities, |
| difficulties, and making decisions so the company can | | | | bonds, etc. |
| achieve its objectives and gain a competitive | | | | Unlimited Company - In the UK, a company whose |
| advantage. | | | | owners have unlimited liability, e.g. if the company |
| Strategic Relationships - an agreement between two | | | | goes into liquidation the owners are required to raise |
| or more enterprises to conduct specified business | | | | the funds to pay the company's debts. |
| processes in a joint manner. Usually related to | | | | Unlimited Liability - The obligation of a company's |
| technology development and/or marketing and | | | | owners or partners to pay all the company's debts, |
| distribution efforts. | | | | even if personal assets have to be used. |
| Stress Puppy - A person who seems to thrive on | | | | Unlisted - Refers to company whose shares are not |
| stress, but is always complaining about it. | | | | traded on the Stock Exchange. |
| Strike - A work stoppage caused by a disagreement | | | | Unofficial Strike - Also known as a Wildcat Strike. A |
| between employees and management over working | | | | form of industrial action which does not have the |
| conditions, pay etc. | | | | approval or permission of a trade union. |
| Strike-Breaker - A person who continues to work, or | | | | Unregulated - Not governed or controlled by laws or |
| is employed to work, during a strike. | | | | rules. |
| Structural Engineer - A professional who researches, | | | | Unsolicited - Not requested or invited, for example |
| plans and designs structures, such as buildings, | | | | junk mail. |
| bridges, etc. | | | | Unsought Goods - products that are usually |
| Sub Judice - Term used when a legal case is currently | | | | purchased due to adversity rather than desire. For |
| under trial or is being considered by a judge, and any | | | | example, coffins, crutches, and medicine are all |
| information about the case must not be disclosed to | | | | unsought goods. Another form of unsought goods |
| the public. | | | | are products such as life insurance and encyclopedias. |
| Subcontract - To hire someone to carry out some of | | | | They are products that the consumer seldom goes |
| the work that you have been contracted to do. | | | | out looking for, therefore, a constant, aggressive |
| Subliminal Advertising - An illegal form of advertising. | | | | selling process is required. |
| An image which is flashed onto a screen, usually for | | | | Unsystematic Risk - Also called Residual Risk. The risk |
| about one second, or a message played at low | | | | that can affect a company's share prices, production, |
| volume, that can influence the person watching or | | | | etc., such as a sudden strike by employees. |
| listening but they are not aware of what they have | | | | UPC - Universal Product Code. A bar code, using thick |
| seen and/or heard. | | | | and thin vertical lines, which is printed on labels, |
| Subordinate - Someone who is lower in rank than | | | | packets, etc., to identify a specific product, and is |
| another person, and is subject to the authority of a | | | | used for stock control. |
| manager, etc. Less important. | | | | Upselling - A sales technique in which the salesperson |
| Subpoena - An official summons which requires a | | | | tries to persuade the customer to purchase more |
| witness to attend a court case and testify at a | | | | expensive and/or more goods than they originally |
| specific time and place. Failure to do so may result in | | | | intended. |
| them being punished for contempt of court. | | | | Uptick - Also called Plus Tick. On the Stock Market, a |
| Subrogation - The right of an insurer, who has paid | | | | transaction or quote at a price above the preceding |
| out a claim to an injured party, to sue the person, | | | | transaction for the same security. |
| company, etc., who caused the injury. | | | | Uptime - The period of time which a computer, piece |
| 1. Success will produce reward. | | | | of machinery, etc., is operational and available for use. |
| Succession Planning - The process of identifying | | | | Upwardly Mobile - Describes someone who is moving |
| suitable employees who can be trained and prepared | | | | towards a higher social and/or economic position. |
| to replace senior staff when their positions become | | | | Urban Regeneration - Also called Urban Renewal, the |
| vacant. | | | | redevelopment of run-down parts of a towns or |
| Summons - An official document which orders a | | | | cities, to include business and housing projects, |
| person to appear in court to answer a complaint | | | | typically funding by governments or agencies. |
| against them. | | | | URL - Uniform/Universal Resource Locator - The |
| Sunk Cost - A company's past expenditures which | | | | address of a web page on the Internet. |
| cannot be recovered, and should not be taken into | | | | Usance - In international trade, the period of time |
| account when planning future projects. | | | | allowed, which varies between countries, for the |
| Sunset Provision - Also called Sunset Clause. A | | | | payment of a bill of exchange. |
| provision which states that a particular law or | | | | User Friendly - Easy to learn or use by people who |
| regulation will expire on a certain date unless further | | | | are not experts. |
| action is taken to extend it. | | | | USP - Unique Selling Point/Proposition. The key |
| Superannuation - A pension, for which regular sums | | | | feature of a product or service which makes it stand |
| are deducted from a person's salary while they are | | | | out from the competition. |
| working, which is paid by an employer when the | | | | Utopia/Utopian - An imaginery society or world or |
| person retires from their job. | | | | situation which is ideal and everyone has everything |
| Supertax - Also called Surtax. An additional tax on | | | | they want, from the highly revered English |
| something already taxed, e.g. an income above a | | | | statesman, scholar, lawyer and writer, Sir Thomas |
| certain level. | | | | More's 1516 century book Utopia, whose full Latin title |
| Supplies Goods - production support products that will | | | | loosely translates to mean 'On the Best State of a |
| not become a part of the purchaser's end product. | | | | Republic and on the New Island of Utopia'. The |
| Examples are drill bits, machine lubricants, wiping rags, | | | | opposite term Dystopia, was devised two centuries |
| etching chemicals, pencils, paper, paper clips, etc. | | | | later. |
| Supply And Demand - Supply is the amount of a | | | | U-Value - Buildings and construction industry term |
| product or service which is available, and demand is | | | | referring to insulation effectiveness of materials. |
| the amount which people wish to buy. When demand | | | | Vacancy - A job opening which is offered by a |
| is higher than supply prices usually rise, when demand | | | | company that wants to hire an employee. An |
| is less than supply prices usually fall. | | | | available room in a hotel. |
| Supply Chain - A chain through which a product | | | | Vacancy Rate - The percentage of unoccupied rental |
| passes from raw materials to manufacturing, | | | | space or units, e.g hotel rooms, compared to total |
| distribution, retailing, etc., until it reaches the end | | | | available rental area at a given time. |
| consumer. | | | | Valid - Legally or formally acceptable or binding. |
| Surface Mail - Mail which is transported over land or | | | | Unexpired, e.g. a passport. |
| sea, not by air. | | | | Value Engineering - In manufacturing, a method of |
| Sweat Equity - Term used to describe a person's | | | | producing a product at the lowest price but without |
| investment in a project, etc., by the contribution of | | | | sacrificing quality, safety, etc., and at the same time |
| their time and effort, rather than their money. | | | | meeting the customers needs. |
| Sweatshop - A place, often a clothing factory, where | | | | Value Investor - An investor who buys shares, etc., |
| people work long hours in poor conditions for low | | | | which they believe to be underpriced, in order to |
| wages. | | | | make a profit by selling them when they price rises. |
| Sweetheart Deal - An agreement or contract which | | | | Value Share - A share, etc., which is considered to be |
| offers very favourable deals to one or both parties, | | | | underpriced and is therefore a good investment |
| but is often not in the best interest of others, such | | | | prospect. |
| as shareholders. | | | | Value-Added Reseller - VAR. A company which |
| SWIFT - Society for Worldwide Interbank Financial | | | | purchases a product and modifies or enhances it |
| Telecommunication. Founded in Brussels in 1973, a | | | | before reselling it to the consumer. This practice is |
| system for transmitting payments, share transactions | | | | common in the computer industry. |
| and other financial messages safely between financial | | | | Valued Policy - An insurance policy in which the |
| institutions all over the world. | | | | insurer agrees to pay a claim for a specified amount |
| Sychophant - A servile person or follower, not | | | | in the event of loss, damage, etc., for items insured, |
| necessarily of low rank, who tries to please a (more) | | | | such as works of art. |
| powerful or influential person by using flattery, and | | | | Vanilla - Plain and ordinary without any extras. Basic. |
| often by informing on others, from which the word is | | | | Vanity Publishing - The author pays the publisher. |
| derived in its original Greek meaning (sykophantes is | | | | Vapourware - Term used to describe computer |
| ancient Greek for informer). | | | | software which is advertised before it has been, and |
| Symposium - A meeting or conference at which | | | | may never be, developed, often to damage sales of |
| experts discuss a particular topic, often with audience | | | | a competitor's product which has already been |
| participation. | | | | launched. |
| Synergy - The working together of two or more | | | | Variable Cost - In business, costs which vary |
| individuals, groups, companies, etc., to produce a | | | | according to the changes in activity, production, etc. |
| greater effect than working individually. | | | | of the company, such as overheads, labour and |
| Table d'Hote - Technically 'table d'hôte' - a food | | | | material costs. |
| menu which offers a full meal with set courses and | | | | VAT - Value Added Tax. A tax paid by consumers |
| limited choices at a fixed price, from French 'host's | | | | which is added to the price of certain goods and |
| table'. | | | | services. |
| Tachograph - A device which is fitted to vehicles, | | | | Vendee - A person or business who buys goods, |
| especially commercial vehicles, which records the | | | | property, etc., |
| speed, distance and time travelled. | | | | Vendor - A person or business who sells goods, |
| Tag Line - A memorable slogan or catch phrase used | | | | property, etc. |
| in advertising. | | | | Venture Capital - Money invested in a new business |
| Tailor-Made - Adapted or made for a particular | | | | which is expected to make a lot of profit but which |
| purpose or individual. | | | | also involves considerable risk. |
| Take-Home Pay - The amount of money received | | | | Verbal Judo - The use of voice tone and body |
| by an employee after deductions, such as tax, | | | | language to diffuse a potentially aggressive or violent |
| insurance, etc. | | | | situation without being confrontational. Described as |
| Takeover - The purchase of one company by | | | | Tactical Communications, Verbal Judo was developed |
| another. | | | | in 1983 by American literary professor, martial arts |
| Takeover Bid - A bid made by an organisation or | | | | expert and later serving policeman, Dr George ('Doc |
| individual to acquire a company, usually by offering to | | | | Rhino') Thompson, initially for the US police. Verbal |
| purchase the shares of the company's shareholders. | | | | Judo has since become a more widely applicable |
| Takeover Panel - A panel set up in certain countries | | | | training program for handling conflict for all sectors, |
| to ensure that all company takeovers comply with | | | | alongside the popularity of Thompson's books, |
| laws and regulations, and that all shareholders are | | | | notably Verbal Judo (1993) and the Verbal Judo |
| treated equally and fairly. | | | | Institute. |
| Tangible Asset - Physical assets, such as machinery, | | | | Vertical Disintegration - A situation in which a |
| buildings, vehicles, cash, etc., which are owned by a | | | | company that previously produced parts and |
| company or individual. | | | | materials is now buying them from other suppliers. |
| Tare - The weight of packaging used in wrapping and | | | | Vertical Equity - A concept of economic fairness, for |
| protecting goods which is deducted from the total | | | | example people who are better off should contribute |
| weight of a product in order to ascertain the actual | | | | more taxes than those who are less well off. |
| weight of the goods. The deduction in weight of a | | | | Vertical Integration - A situation in which a company |
| vehicle used to transport goods in order to | | | | buys one or more of the companies which are |
| determine the actual weight of the goods. | | | | involved in the production process of its goods. |
| Target Audience - The specific group of people that | | | | Vertical Integration - the potential within an enterprise |
| an advertisement, product, TV program, etc., is | | | | to incorporate all aspects of management, |
| aimed at. | | | | production, sales and distribution into their business |
| Target Company - A company that another | | | | operations. In theory, the greater the vertical |
| company or organisation wants to acquire. | | | | integration, the less vulnerable an enterprise is to |
| Target Market - A specific group of people with | | | | outside forces. |
| similar characteristics, needs, lifestyle, etc., at which a | | | | Vested Interest - When an individual, business or |
| company markets its products or services. | | | | group has a special interest in something, such as |
| Tariff - A government tax on imported and exported | | | | property, an activity, etc., from which there is a |
| goods. | | | | personal or financial gain. |
| Task Force - A group of people formed to work on | | | | Veto - Latin for 'I Forbid'. To vote against. The right |
| a particular project or assignment. | | | | to block a law, etc. |
| Tax - A fee imposed by a government on personal | | | | Vexatious Litigant - A person or party who regularly |
| or corporate income, products, services, etc., in order | | | | brings unsustainable lawsuits against another party in |
| to raise revenue to pay for public services. | | | | order to harass or annoy them. |
| Tax Abatement - Also known as a Tax Holiday. An | | | | Viable - Capable of being done or working |
| exemption or reduction of taxes by a government | | | | successfully. |
| for certain companies for a specific period of time, | | | | Vicarious Liability - Having legal responsibility for the |
| often as an incentive for industrial development. | | | | actions of another, e.g. the liabilty of an organisation |
| Tax Allowance - The amount of income that can be | | | | for the actions of its employees. |
| earned or received in one year before tax has to be | | | | Vigorish - A slang term, also abbreviated to vig, for |
| paid. | | | | the commission or fee charged by a bookmaker or |
| Tax Avoidance - Legal ways of paying the minimum | | | | casino on a wager. Also the interest on a loan from a |
| amount of tax possible by making use of allowances | | | | loan shark or unregulated loan provider. The term is |
| and exemptions. | | | | Yiddish (Jewish) deriving from the Russian word |
| Tax Bracket - Based on income levels, the higher the | | | | vyigrysh, meaning winnings. |
| income the higher the tax bracket, therefore people | | | | Viral Marketing - Also known as Word Of Mouth. An |
| earning more money have to pay a higher rate of | | | | advertising and marketing technique which |
| tax on the part of their income which is below the | | | | encourages people to pass on information about a |
| lower tax bracket allowance. | | | | product, etc., often by e-mail or from one Internet |
| Tax Evasion - Illegally avoidng paying tax, usually by | | | | website to another. |
| making a false declaration of income. | | | | Vocation - An occupation for which a person is |
| Tax Exile - A person or business who chooses to | | | | strongly suited and/or to which they are dedicated. |
| leave a country to reside or operate in another | | | | Vocational - Relating to an occupation for which a |
| country, usually called a Tax Haven, where taxes are | | | | person has undergone special training or has special |
| much lower or there aren't any. | | | | skills. |
| Tax Lien - The right of a tax authority to claim | | | | Voice Recognition - Technology which allows |
| assets belonging to a company or individual who | | | | computers, mobile phones, etc., to be operated by |
| default on tax payments. | | | | being spoken to. |
| T-Commerce - Television Commerce. The | | | | Voice-Over - A presenter or actor in a TV |
| purchasing and selling of products and services using | | | | commercial or program who is heard but who is not |
| interactive television. | | | | seen on the screen. |
| Team Player - A person in any type of profession | | | | Void - A contract, agreement, document, etc., which |
| who works well as a member of a team. | | | | is no longer valid or legal. |
| Teaser Ad - A brief advertisement which reveals | | | | Voluntary Bankruptcy - A situation in which a debtor |
| only a little bit of information about a product, usually | | | | voluntary files for bankruptcy because they cannot |
| not yet available, in order to arouse widespread | | | | pay their creditors. |
| interest. | | | | Voluntary Liquidation - A situation where the owners |
| Teaser Rate - A low rate of interest, for example on | | | | directors of a solvent company decide to cease |
| a mortgage, loan, credit card, etc., which is below the | | | | business, sell the company's assets and pay all the |
| going market rate and available for only a short | | | | creditors. |
| period of time in order to attract borrowers. | | | | Vote Of No Confidence - A vote which shows that |
| Techie - A person who is very knowledgable, or an | | | | the majority of those voting have lost confidence in |
| expert, in technology, especially computing. | | | | something, usually a government. |
| Technical Analyst - A stock market analyst who | | | | Voting Shares - Called Voting Stock in the US. A |
| uses charts and computer programs to study | | | | company share which gives the shareholder the right |
| investments in order to predict the future of share | | | | to vote on matters regarding company policy, etc. |
| prices, etc. | | | | Wage Differential - The difference in wage rates |
| Technical Support - A service provided by the | | | | between different types of worker, often those |
| vendor of technology products, such as computers, | | | | with similar jobs but who work in different regions of |
| mobile phones, televisions, etc., which the purchaser | | | | a country, have different skills, hours of work, etc. |
| can use if they need help using the product. | | | | Wage Drift - A situation when basic rates of pay are |
| Telecommunications - Known informally as Telecoms. | | | | not as high as levels of wages actually paid. This is |
| Communicating over long distances by telephone, | | | | often because of increases in overtime, bonuses, |
| e-mail, etc. | | | | profit share, etc. |
| Teleconference - A conference involving two or | | | | Wage Slave - Someone whose is totally dependent |
| more people at different locations, using | | | | on the wages they earn. |
| telecommunications equipment, such as computers, | | | | Waiver - A formal statement in which someone gives |
| video, telephone, etc. | | | | up a right or privilege. |
| Telemarketing - Also known as Telesales. The selling | | | | Walk Back The Cat - A metaphor for |
| of goods or services by contacting potential | | | | troubleshooting. When something goes wrong, the |
| customers by telephone. | | | | situation is analysed in chronological order to find out |
| Teleworking - An arrangement in which the employee | | | | when the problem happened and why, and correct |
| works at home and contacts their office or | | | | mistakes so they don't happen again. Like when a cat |
| workplace by telephone or computer. | | | | unravels a ball of string and you have to rewind the |
| Tenant - An individual or business who pays a fee for | | | | twisted yarn to find the flaw. |
| the use of land, property, etc., to the owner. An | | | | Walking Papers - Also called Walking Ticket. A |
| occupant. | | | | notification of dismissal from a job. |
| Tenant At Will - A tenant who continues to rent land, | | | | Wall Street - A street in Lower Manhattan where the |
| property, etc., past the expiration of the lease. Also a | | | | New York Stock Exchange and financial centre is |
| tenant who rents property without a written lease, | | | | situated. |
| therefore they can be forced to leave without notice | | | | Warrant - A certificate which entitles the holder to |
| from the owner. | | | | buy a specific number of shares at a fixed price |
| Tender Offer - An offer, usually above the market | | | | within a specified period of time. A legal document |
| price, made to the shareholders of a company by | | | | issued by a court of law authorising the police to |
| another company or individual as part of a takeover | | | | make an arrest, search premises, etc. |
| bid. | | | | Watch List - A list of investments being monitored |
| Term Assurance - A form of life insurance which | | | | because they are showing signs of unusual activity, |
| pays out a lump sum if the policyholder dies within a | | | | often because the companies who own the shares |
| fixed period of time. | | | | may be takeover targets. |
| Terms Of Reference - A document which describes | | | | Watchdog - A person or organisation that monitors |
| the objectives, scope and purpose of a project, | | | | the practices of companies to ensure they are nor |
| committee, meeting, etc. | | | | acting illegally. |
| Terrestrial - Term used to describe broadcasting | | | | WATS - Wide Area Telecommunications Service. In |
| systems, such as television, which operate on land, | | | | the US and Canada, a long distance telephone service |
| rather than from a satellite. | | | | which provides discounted calls for companies that |
| Tertiary Industry - Third sector of a country's | | | | place large volumes of long distance telephone calls. |
| economy which covers the provision of services, | | | | Wayzgoose - A traditional August outing or party for |
| such as transport, schools, financial services, etc., | | | | printers, typically around St Bartholomwe's Day, 24th |
| rather than manufacturing or production. | | | | August, marking the end of summer, when work by |
| Test Case - Term used to describe a court case | | | | candlelight began each year. The term persisted in |
| which establishes legal rights and serves as a | | | | the print industry in more general use referring to a |
| precedent for future similar cases. | | | | company party, although its use is now rare since |
| Test Market - In marketing, a product or service | | | | large-scale automation and workforce reduction. |
| which is tested in a particular area of the country | | | | Webmaster - A person who is responsible for |
| before it is launched nationally. | | | | maintaining a website. |
| Text Message - A written message sent from one | | | | Webzine - An electronic magazine which is published |
| mobile phone to another. | | | | on the Internet. |
| The Big Board - An informal name for the New York | | | | Weighbridge - Known as a Weigh Station in the US. A |
| Stock Exchange on Wall Street. | | | | vehicle weighing system which consists of a metal |
| The Daily Official List - The daily record setting out | | | | plate set into a road which vehicles, usually trucks |
| the prices of shares that are traded on a stock | | | | with loads, are driven onto to be weighed to check if |
| exchange. | | | | they are overladen. |
| Theory Of Constraints - Theory originally developed | | | | Weighting - An allowance paid to workers who live in |
| by Dr Eliyahu Goldratt, which states that every | | | | certain areas of the country, such as London, to |
| organisation must have at least one constraint that | | | | compensate for higher living costs. |
| should be overcome by recognising and dealing with | | | | Wet Lease - An arrangement in which an airline |
| the cause of the 'bottleneck', thus enabling the | | | | leases an aircraft, complete with crew, insurance, |
| company to achieve its goals. | | | | etc., to another company, usually for a short period |
| Theory X - Developed by Douglas McGregor in the | | | | of time. |
| 1960s, a theory which states that most people in the | | | | What if?.. Scenarios/Modelling - 'What If?..' Scenarios |
| workplace do not enjoy work and will take every | | | | or Modelling is a form of planning. 'What If?..' is a |
| opportunity to avoid doing their job because they are | | | | vague and general term covering methods of |
| lazy and need to be closely supervised, threatened | | | | predictive or creative forecasting, in which scenarios |
| and disciplined by management. | | | | or hypothetical situations are developed, almost |
| Theory Y - Developed by Douglas McGregor. The | | | | always by extending or extrapolating an existing or |
| opposite to Theory X, a method of managing people | | | | historical situation |
| in the workplace based on the idea that most | | | | Wheeling And Dealing - Making a profit, sometimes |
| workers enjoy their job, are self-motivated and want | | | | dishonestly, buy buying and selling things, or acting as |
| responsibility, and the managers role is to help the | | | | a go-between for two parties. |
| workers realise their full potential by giving them | | | | Whistleblower - An informant who lets the public or |
| more responsibility, including them in decision-making, | | | | people in authority know about any wrongdoings or |
| etc. | | | | illegal activities within an organisation, usually the one |
| Theory Z - A Japanese management style based on | | | | the informant works for. |
| the theory, developed by William Ouchi, that workers | | | | White Collar - Refers to employees who work in |
| like to build relationships with other workers and | | | | offices or business rather than manual workers. |
| management, to feel secure in their jobs, develop | | | | White Collar Crime - An illegal act such as fraud, |
| skills through training, and have their family life and | | | | embezzlement, bribery, etc., committed by a worker |
| traditions valued. | | | | in business or administrative function. |
| 1. These outcomes will be personally satisfying. | | | | White Goods - Large domestic electrical appliances, |
| Think Tank - A group or organisation which | | | | such as cookers, washing machines, fridges, etc. |
| researches and advises on issues relating to | | | | White Knight - A company, individual, etc., who offers |
| technology, economy, politics and social strategy. | | | | favourable terms in a takeover, usually saving the |
| Third Line Forcing - A situation which occurs when a | | | | acquired company from a hostile takeover. |
| supplier will only sell a product or service to a | | | | White Van Man - A derogatory term for drivers of |
| customer on condition that it is purchased from a | | | | white commercial vans, who have a reputation for |
| third party nominated by the supplier. | | | | driving recklessly and intimidating car drivers by driving |
| Third Party - A person or organisation not principally | | | | about three inches from their rear bumper. |
| involved with the other two parties but who has an | | | | Wholesale - The sale of goods in large quantities, |
| interest in an agreement or contract. In an insurance | | | | usually to retailers who then sell them for a profit. |
| policy, the third party is the person whose car, etc is | | | | Wholesale Bank - A bank which provides services to |
| damaged by you in an accident. | | | | large organisations, financial institutions, etc., rather |
| Third Sector - Part of a country's economy which is | | | | than individual customers. |
| non-profitmaking, such as voluntary work, charities, | | | | Wholesale Sales Method - selling to distributors at |
| etc. | | | | significantly discounted prices who in turn sell to full |
| Third World - Refers to poor, underdeveloped | | | | service or self service retail outlets. |
| nations in South Africa, Asia and South America. | | | | Widget - A small program which is run by certain |
| Thrift - In the US, a savings or loan association. The | | | | computers. A small device, switch, gadget, etc., |
| practice of not spending too much money or using | | | | whose name is not known. |
| up too many resources. | | | | Wind Farm - A large area of land, which has strong |
| Ticker Symbol - In the US, a set of characters, | | | | winds, on which a group of wind turbines are placed |
| usually letters, used to identify a particular share on | | | | in order to produce electricity by driving generators. |
| the Stock Exchange. | | | | Windfall - A sudden, unexpected sum of money or |
| Tied Agent - A sales agent or business who | | | | piece of good fortune received by someone. |
| represents or sells and/or offers advice only on one | | | | Win-Win - Describes a situation or arrangement in |
| company's products, such as insurance. | | | | which all parties benefit or profit. |
| Time and a Half - Rate of pay which is 50% more | | | | With Profits - Describes an insurance policy which |
| than the regular rate, usually for overtime work. | | | | pays the sum assured plus any bonuses which may |
| Time and Motion Study - The study and analysis of a | | | | have accumulated over the term of the policy. |
| specific job within an organisation, the results of | | | | Without Prejudice - Written on a document in legal |
| which are used to improve efficiency and production. | | | | proceedings, negotiations, etc., meaning that any |
| Timeshare - A lease on a (usually holiday) property | | | | information contained in the document does not |
| jointly owned by several people who have the right | | | | affect the legal rights of a party involved in a dispute. |
| to use it during agreed times of the year, usually for | | | | Without Recourse - A legal term written on a bill of |
| one or two weeks. The industry is often associated | | | | exchange which signifies that the buyer accepts the |
| with high-pressure or unethical selling methods. | | | | risk of non-payment from a third party, rather than |
| Title Deed - A legal document which proves a | | | | the seller. |
| person's rights of ownership of property or land. | | | | Work In Progress - Also called Work In Process. |
| Tokenism - The practice of doing the minimum | | | | Work on a product, contract, etc., that a company |
| required, especially by law, by making small token | | | | has invested in but is not yet completed. A piece of |
| gestures, such as employing or including a single | | | | music, art, etc., which is unfinished but may be |
| person who represents a minority or ethnic group. | | | | available for viewing or listening. |
| Top Brass - The most important people in a | | | | Work Permit - A legal document which gives a |
| company or organisation. | | | | person a right to employment in certain foreign |
| Top Dog - The person who has the highest authority | | | | countries. |
| and is in charge of a whole operation, business, etc. | | | | Workaholic - A person who is addicted to work. |
| Top Dollar - The very highest price paid for a | | | | Working Capital - Also known as Net Current Assets. |
| product, service, worker, etc. | | | | The amount of funds which are available to a |
| Top-Heavy - Describes a company or business which | | | | company for everyday running costs, such as wages, |
| has too many managers and/or administrators in | | | | rent, etc. |
| comparison to the number of workers. | | | | Working Capital - the cash available to an enterprise |
| Top-Level Domain - TLD. The last part of a domain | | | | for day-to-day operations. |
| address on the Internet, for example .com | | | | Working Time Directive - Rules set by the European |
| (commerce), .gov (government), etc. | | | | Union which limits the maximum number of hours in a |
| Tort - A wrongful act, other than a breach of | | | | working week, the minimum amount of annual leave |
| contract, which is not criminal but harmful to another | | | | and the minimum amount of rest period in a working |
| person, against which legal action for damages may | | | | day to which an employee is entitled. |
| be taken. | | | | World Economic Forum - WEF. Based in Geneva, |
| Total Costs - In business, the costs of | | | | Switzerland, an non-profit, international organisation |
| manufacturing, overheads, administration, etc. - i.e., | | | | which brings together politicians, business and |
| the sum of fixed costs and variable costs. In | | | | education leaders from all over the world to discuss |
| investments, the price paid for a share, security, etc., | | | | ways to improve economic and social growth, health |
| plus brokerage fees, taxes, interest due to the seller, | | | | and environment issues, etc. |
| etc. | | | | World Trade Organisation - WTO. An international |
| Total Quality Management - TQM. A company | | | | organisation, established in 1995, with more than 150 |
| management system which seeks to improve the | | | | member nations, based in Geneva, Switzerland. The |
| quality of products and services and to improve | | | | WTO monitors international trade, helping importers |
| customer satisfaction by giving everyone in the | | | | and exporters conduct their business, and provides |
| organisation the responsibility of achieving and | | | | assistance to developing countries. |
| keeping high standards. | | | | Wow Factor - The instant appeal of a product, |
| Touch Base - To make contact, usually managers | | | | property, etc., which impresses and surprises people |
| who want to communicate with their staff. | | | | the first time they see it. |
| Trade - The buying and selling or exchange of goods | | | | Wrap - The end of a film shoot when everything is |
| and services. The buying and selling of shares on the | | | | finished, the set can be taken down and everyone |
| Stock Market. A skilled occupation such as builder, | | | | can go. |
| carpenter, plumber, electrician, etc. | | | | Writ - A written order issued by a court of law which |
| Trade Agreement - An agreement, usually between | | | | orders someone to do, or not do, something. |
| countries, to limit or change their policies when trading | | | | Writ Of Execution - A court order which ensures that |
| with one another. | | | | a judgement is enforced. |
| Trade Descriptions Act - In the UK, a 1968 Act of | | | | Write-Off - In accounting, to reduce the book value |
| Parliament which prevents misrepresentation of | | | | of an asset, sometimes to zero, or cancel a debt |
| goods and services to customers by manufacturers, | | | | which has not been, or is unlikely to be, paid. |
| retailers or service providers. | | | | Write-Protect - In computing, protect the data on a |
| Trade Secret - A secret device or formula used by a | | | | disk or file from being accidentally deleted or edited. |
| company in the manufacturing of a product which | | | | X-Efficiency - A concept introduced by economist |
| gives it an advantage over the competition. | | | | Harvey Liebenstein. A company's ability to use its |
| Trade War - A conflict between countries in which | | | | workers, machines, technology, etc., to produce |
| each country puts up trade barriers in order to | | | | maximum output at lowest cost and as quickly as |
| restrict or damage the others trade. | | | | possible. |
| Trademark - the name of a product or service that | | | | Xenology - The scientific study and/or research of |
| has been legally registered as the property of an | | | | alien cultures and biology. |
| enterprise. | | | | Xerox Machine - A piece of equipment which makes |
| Trademark - TM. A symbol, logo, word or phrase | | | | paper copies of documents, etc. |
| which is used exclusively by a company, individual, | | | | X-Inefficiency - When a company is not using its |
| etc., so their products or services can be easily | | | | employees, machinery, resources, etc., effectively, |
| identified, A Trademark cannot legally be used by | | | | often because of lack of competition. |
| anyone else. | | | | Xylography - The art of engraving an image on a |
| Trading Floor - An area of a Stock Exchange where | | | | block of wood, or printing from woodblocks. |
| dealers trade in stocks, shares, etc. | | | | Yarnstorming - Also called yarnbombing, an intriguingly |
| Trailblazer - An innovator or pioneer. An individual or | | | | specialised type of peaceful demonstration and |
| company who is the first to do or discover | | | | activism in which objects such as works of art, |
| something, and leads where others follow. | | | | sculpture, railings, phone boxes, considered |
| Tranche - Describes part of a loan, investment, etc., | | | | unattractive by the activists, are covered by knitting |
| which is a portion of the whole amount. | | | | or crochet, usually at night, and mainly by young |
| Transfer Deed - Also called Deed Of Transfer. A legal | | | | women. |
| document which shows that the ownership of | | | | Yellow Pages - A telephone directory, usually |
| property, land, etc., has been changed from its legal | | | | printed on yellow paper, which lists businesses, |
| owner to another party who now legally owns it. | | | | organisations, retailers, etc., in alphabetical order in |
| Transnational - Multinational. Refers to businesses, | | | | categories according to the service they provide. |
| organisations, etc., which operate in or between | | | | Yellow Sheets - Published every day in the US by the |
| several countries. | | | | National Quotation Bureau, a list which shows |
| Treasurer - A person in a company, organisation, | | | | information and prices of corporate bonds. |
| club, etc., who is responsible for the management of | | | | Yeoman - A servant or attendant in a royal or noble |
| funds and accounts. | | | | household. |
| Treasury Bond - In the US, a long term security | | | | Yield - The annual income earned from an |
| issued by the government which pays regular | | | | investment, usually expressed as a percentage of |
| interest. | | | | the sum invested. |
| Trial Offer - A temporary offer by a company usually | | | | Youth Court - A court of law, which members of the |
| aimed at first-time buyers in which a customer can | | | | public are not allowed to attend, that deals with |
| try a product or service free or at discounted rates | | | | juvenile (under 18 years of age) offenders. |
| for a short period of time. | | | | Yuppie - Derives from Young Urban Professional. |
| Troubleshoot - To identify and solve problems which | | | | Term used since the 1980s to describe a young |
| arise in the workplace. | | | | person who has a well-paid job and an affluent |
| Trust Fund - Property or funds which are legally held | | | | lifestyle. |
| in control of a trustee on behalf of an individual or | | | | Zero-Based Budgeting - ZBB. A system in which a |
| organisation. | | | | yearly budget for a department in a company starts |
| Trustafarian - A wealthy young person, who gives | | | | at zero with no pre-authorised funds, and the |
| the appearance of being unemployed and living a | | | | department has to justify its budget requests. |
| bohemian lifestyle in less than comfortable | | | | Zero-Rated - Describes goods or services on which |
| circumstances, but who is living off a trust fund. | | | | the buyer pays no value-added-tax. |
| Trustbuster - A government agent whose job is to | | | | Zero-Sum Game - A situation in which what is lost by |
| break up monopolies or corporate trusts under the | | | | one person, company, etc., is matched by a gain by |
| anti-trust laws. | | | | another/others. Used in economics and Game Theory |
| Trustee - An individual or organisation who is legally | | | | to describe the relatively simple 'strictly competitive' |
| responsible for managing the financial affairs or | | | | situation whereby all the losses and gains balance |
| another person or company. | | | | each other to zero. Potential gains are finite; what is |
| Truth In Lending Act - In the US, a law which | | | | gained by one must be lost by another, and |
| protects consumers by requiring companies which | | | | vice-versa. |
| offer loans, credit and charge cards, etc., to disclose | | | | Z-Score - Developed by Dr Edward Altman of New |
| full information regarding terms and interest rates. | | | | York University in the 1960s, a measurement of the |
| Turd Polishing - Australian equivalent of not being able | | | | financial health of a company which predicts the |
| to make a silk purse out of a pigs ear. An engineering | | | | probability of the company going bankrupt. |