Glossary III

fair trade

a system in which two countries which are trading partners agree not to charge import taxes on particular goods they buy from each other

flexible

if arrangements for work are flexible, employers can ask for doing different jobs, work part-time rather than full time. FLexible work also includes flexitime, job-sharing and teleworking 2Sth that can be changed easily to suit new situation

fluctuate

if prices, income, rates fluctuate they change, increasing or falling often or regularly

fringe benefit

an additional advantage or service given with a job besides wages. Pensions, company cars etc.

fund

money that a person, organisation has available 2a company whose activity is putting money from investors into a particular type of investment or a range of investments, or an amount of money invested in this way

globalisation

the tendency for the world economy to work as one unit, led by large international companies doing business all over the world.

glocalisation

the idea that companies should think globally, but use methods in each particular place that are suited to it

goodwill payment

a payment made to senior members of a business as a reward for hard work

growth

an increase in size, amount or degree

headhunt

to find a manager with the right skils and experience to do the particular job, often by persuading a suitable person to leave their previous job

headquarters

the head office or main building of an organisation

hire(v)

to agree to give someone a permanent job 2to empley a person or an organisation for a short time to do a particular job to

hire(n)

an arrangement by which someone borrows sth for a period of time in exchange for money

holding

a quantity of shares held in a company by a particular shareholder

hospitality

services such as food and drink that an organisation for guests at a special event

hostile

a hostile bid or takeover is one in which a company tries to buy another company whose shareholders do not want to sell

incentive

sth which is used to encourage people to do sth, especially to make them work harder, produce more or spend more money

income

money that a company makes from its activities, after taking away some costs 2money that you earn from your job or that you receive from investments

income stream

regular amounts of money coming into a company or organisation from a particular activity or source, especially over a long period of time

instalment

one of a series of regular payments that are made until all of an agreed amount has been paid

interest

an amount paid by a borower to a lender, for example to a bank by someone borrowing money for a loan or by a bank to a depositor 2shares that you own in a company, or a part of a company that a person or organisation owns

interest rate

the percentage rate used for calculating interest over a particular period of time, usually one year

invest

to buy shares, bonds, property etc. in order to make profit to spend money on things that will make a business more successful and profitable

investment

when money is put into a business in order to make it more successful and profitable, or the money that is put into business 2an amount of money that you invest

investor

a person or organisation that invests money in order to make profit

jeopardise

to risk losing or harming sth

job loss

when people lose their jobs

joint venture

a business activity in which two or more companies have invested together

launch(v)

to show or make a new product is shown or made available for sale for the first time

launch(n)

an accasion at which a new product is shown or made available for sale or use for the first time

lease

if you lease sth from someone, you pay them to let you use it for particular period of time

ledger

one of the books or computer records showing the totals of items shown separetely in the books of first entry or day books

liability

an amount of money owed by a business to a supplier/lender 2the responsibility that a person or organisation has for loss, damage or injury caused to others, or for payment of debts

liquidation

when company stops operating because it is in financial difficulty and its assests are sold to pay off debts

liquidity

the ability of the company to make payments to employers and suppliers, interest payments to banks

loan

money borrowed from a bank, financial institution, person etc. on which interest is usually paid to the lender until the loan is repayed

loan shark

someone who lends money at very high rates of interest

logo

a design or way of writing its name that a company or organisation uses as its official sign on its product

loss

an event that causes a person or organisation to make a claim on an insurance contract

loyal

if customers are loyal to a particular product, they continue to buy it and do not change to other products

loyalty

the fact of being loyal to a particular product

management buyout

when a company's top managers buy the company they work for

manufacturer

to produce large quantities of goods to be sold, using machinery

market share

the percentage of sales in a market that a company or product has

merger

an accasion when two or more companies, organisations, join together to form a larger company

minutes

an official written record of what is said and decided at a meeting

mismanage

to manage a company economy badly

mortgage

a legal arrangement where you borrow money from a financial intitution in order to buy land or a house, and you pay back the money over a period of years