Terminologies 5,6 Flashcards
Negotiation
An interaction of influences that aims to reach an outcome that will satisfy the interests of those involved.
Negotiating style
A particular approach to the process of negotiation.
SMART objectives or targets
Objectives or targets that are specific, measurable, achievable, realistic and time-based.
Commercial bank
A commercial institution that receives deposits and provides loans and other forms of financial support; it is usually owned by its shareholders.
Building society
A financial institution that receives deposits and provides loans and other forms of financial support; it is usually owned by its members, and so is a mutual Organisation.
Credit union
A financial institution that receives deposits and provides loans and other forms of financial support; it is usually owned by its members, and so is a mutual Organisation, but it tends to be limited to particular areas of a country or to particular groups of workers
Grant
A payment that is usually given to support a particular project or service.
Lease
A contractual arrangement whereby an asset is used for a specified period of time on payment of rent.
Lessee
A person or Organisation that rents an asset from a lessor.
Lessor
The person or Organisation that rents an asset to a lessee.
Loan
Money that is lent by a financial institution to a borrower.
Mortgage
A form of loan that is usually secured against a property.
Overdraft
A situation when an account is allowed to go into debt.
Subsidy
A payment usually given to keep the selling price lower than would otherwise be the case.
Investment
The process of purchasing capital assets
