Deck #4 - Business Terms Flashcards
focus group (n)
a group of people brought together to discuss their feelings and opinions about a particular subject. In market research, focus groups discuss their opinions of products, advertisements, companies etc
franchise (n)
an arrangement in which a company gives a business the right to sell its goods or services in return for payment or a share of the profits; a particular shop, restaurant etc that is run under a franchise, or a company that owns a number of these
franchise (v)
to sell franchises to people
franchisee (n)
someone who is sold a franchise and operates it
free port (n)
a port where import duty does not have to be paid on imports that are to be sent to another country to be sold, or used to manufacture goods that will be sold abroad
gambling (n)
the practice of risking money or possessions on the result of something uncertain, for example a card game or a sporting event such as a horse race
global (adj)
affecting or involving the whole world; including and considering all the parts of a situation together, rather than the individual parts separately
global economy (n)
the economy of the world see as a whole
globalization (n)
the tendency for the world economy to work as one unit, led by large international companies doing business all over the world
globalize (v)
if a company, an industry, or an economy globalizes or is globalized, it no longer depends on conditions in one country, but on conditions in the world as whole
goodwill payment (n)
a payment made by a supplier to a customer because of a problem the customer has had, for example with quality or late delivery of goods
gross domestic product (n)
the total value of goods and services produced in a country’s economy, not including income from abroad
gross domestic product per capita (n)
the total value of goods and services produced in a country divided by the number of people living there
grow (v)
to increase in amount, size or degree; if you grow a business activity, you make it bigger
growth (n)
an increase in size, amount, or degree
headquarters (n)
the head office or main building of an organization
hoarding (n)
a large sign used for advertising. Hoardings are called billboards in American English
hot-desking (n)
when people working in an office do not each have their own desk, but work where there is one available
incentive (n)
something which is used to encourage people, especially to make them work harder, produce more or spend more money
income statement (n)
a financial document showing the amount of money earned and spent in a particular period of time by a company. This is usually called the profit and loss account in British English
incremental (adj)
an incremental process is one where things happens in small steps; an incremental amount, sum etc is small when considered by itself
industrial espionage (n)
the activity of secretly finding out a company’s plans, details of its products etc
infant industry (n)
an industry in its early stages of development in a particular country. Some people think that infant industries should be helped with government money and protected from international competition by import taxes etc
infrastructure (n)
the basic systems and structures that a country needs to make economic activity possible, for example transport, communications, and power supplies; the basic systems and equipment needed for an industry or business to operate successfully or for an activity to happen
innovative (v)
to design and develop new and better products
innovation (n)
a new idea, method, or invention; the introduction of new ideas or methods
insider trading (n)
when someone uses knowledge of a particular company, situation etc that is not available to other people in order to buy or sell shares. Insider trading is illegal!
innovative (adj)
an innovative product, method, process etc is new, different, and better than those that existed before; using clever new ideas and methods
integrity (n)
the state of being united or kept together as one whole, and therefore strong, unit; complete honesty
interest (n)
an amount paid by a borrower to a lender, for example to a bank by someone borrowing money for a loan, or by a bank to a depositor; the interest rate at which a particular sum of money is borrowed and lent; the part of a company that someone owns; the possession of rights, especially to land, property etc
