above boardhonest and legal
acquireif one company acquires another, it buys it
acquisitionwhen one company buys another or part of another company, or the company or part of a company that is bought
advertising campaignan organization’s programme of advertising activities over a particular period with specific aims, for example an increase in sales or awareness of a product
agenda1 a list of the subjects to be discussed at a meeting
2 the things that someone considers important or that they are planning to do something about
aggressive1 an aggressive plan or action is intended to achieve its result by using direct and forceful methods
2 an aggressive person or organization is very determined to achieve what they want
alliancean agreement between two or more organizations to work together
application1 a formal, usually written, request for something or for permission to do something
2 a formal request for work
3 a practical use for something
4 a piece of software for a particular use or job
apply1 to make a formal, usually written request for something, especially a job, a place at university, or permission to do something
2 to use something such as a law or an idea in a particular situation, activity, or process
3 to have an effect on someone or something, or to concern a person, group, or situation
approximatean approximate amount, number etc is a little more or a little less than the exact amount, number etc
assetsomething belonging to an individual or a business that has value or the power to earn money
attendto go to an event such as a meeting
attributea characteristic, feature, or quality
awarenessknowledge or understanding of a particular subject, situation, or thing
backgroundsomeone’s past, for example their education, qualifications, and the jobs they have had
balance sheeta document showing a company’s financial position and wealth at a particular time. The balance sheet is often described as a ‘photograph’ of a company’s financial situation at a particular moment
bankrupt1 someone judged to be unable to pay their debts by a court of law, and whose financial affairs are handled by a court official until the debts are settled
2 not having enough money to pay your debts
3 to make a person, business, or country go bankrupt
bankruptcywhen someone is judged to be unable to pay their debts by a court of law, and their assets are shared among their creditors (=those that they owe money to), or a case of this happening
bank statementinformation sent regularly by a bank to a customer, showing the money that has gone into and out of their account over a particular period
barrier to tradesomething that makes trade between two countries more difficult or expensive, for example a tax on imports
benchmark1 something that can be used as a comparison to judge or measure other things
2 good performance in a particular activity in one company that can be used as a standard to judge the same activity in other companies
benefits packagethe total amount of pay and all the other advantages that an employee may receive such as bonuses, health insurance, a company car etc
bid1 an offer to buy something, for example a company in a takeover, or the price offered
2 an offer to do work or provide services for a fixed price, in competition with other offers
billboarda large sign used for advertising.
blueprinta plan for achieving or improving something
board of directorsthe group of people who have been elected by shareholders to manage a company
bonusan extra amount of money added to an employee’s wages, usually as a reward for doing difficult work or for doing their work well
boom1 a time when business activity increases rapidly, so that the demand for goods increases, prices and wages go up, and unemployment falls
2 a time when activity on the stockmarket reaches a high level and share prices are very high
branda name given to a product or group of products by a company for easy recognition
brandingthe activity of giving brand names to products, developing people’s awareness of them etc
brand leaderthe brand with the most sales in a particular market
brand loyaltythe degree to which people buy a particular brand and refuse to change to other brands
brand managersomeone in a company responsible for developing a brand
bribe1 money that is paid secretly and dishonestly to obtain someone’s help
brokera person or organization whose job is to buy and sell shares, currencies, property, insurance etc for others
bureaucracy1 a system of governing that has a large number of departments and officials
2 disapproving all the complicated rules and processes of an official system, especially when they are confusing or responsible for causing a delay
buyout1 the act of buying a business
2 the act of buying all the shares in a company of a particular shareholder
cash flow1 the amounts of money coming into and going out of a company, and the timing of these
2 profit for a particular period, defined in different ways by different businesses
cash generation money that a company gets from sales after costs are taken away. Cash generation is often used in talking about the degree to which the company is able to do this
chair1 the position of being the chairman of a company or organization or the person who is chairman
2 the position of being in charge of a meeting or the person who is in charge of it
Chief Executive Officer (CEO)the manager with the most authority in the day to day management of a company, especially in the US. The job of CEO is sometimes combined with others, such as that of president
clock in / outto record on a special card or computer the time you arrive at or begin work / or the time you stop or leave work
collapseif a company, organization, or system collapses, it suddenly fails or becomes too weak to continue
commissionan amount of money paid to someone according to the value of goods, services, investments etc they have sold
compensation1 an amount paid to someone because they have been hurt or harmed in some way
2 the total of pay and benefits for an employee, especially a high-level manager
competitive advantagesomething that helps you to be better or more successful than others
conceptan idea for a product, business etc
conmansomeone who tries to get money from people by tricking them
consortiuma combination of several companies working together for a particular purpose, for example in order to buy something or build something
consumer behaviourhow, why, where, and when consumers buy things, and the study of this
controlling interestthe situation where one shareholder owns enough shares to control a company
controlling shareholdersomeone who owns more than half the shares in a company
copycatproduct a product that copies a competitor’s idea for a product
core business / activity / productthe business, activity or product that makes most money for a company and that is considered to be its most important and central one
corrupt1 using power in a dishonest or illegal way in order to get money or an advantage of some kind
2 to encourage someone to behave in an immoral or dishonest way
corruption1 the crime of giving or receiving money, gifts, a better job etc in exchange for doing something dishonest or illegal that helps another person or company
2 when someone who has power or authority uses it in a dishonest or illegal way to get money or an advantage
counterfeitto copy something so that it looks like something else, usually illegally
crash1 a time when many investments lose their value very quickly, usually when investors lose confidence in the market and sell
2 an occasion when a computer or a software suddenly and unexpectedly stops working or fails to work properly
crisis1 a period or moment of great difficulty, danger, or uncertainty, especially in politics or economics
2 a time when a personal problem or situation has reached its worst point
culture1 the ideas, beliefs, and customs that are shared and accepted by people in a society
2 the attitudes or beliefs that are shared by a particular group of people or in a particular organization
customsthe government department responsible for collecting the tax on goods that have been brought into the country and making sure that illegal goods are not imported or exported
deceitwhen someone tries to gain an advantage for themselves by tricking someone, for example by making a false statement
deceiveto make someone believe something that is not true in order to get what you want
decline1 if an industry or country declines, it becomes less profitable, productive, wealthy etc
2 if sales, output, production etc decline, they become less
defecta fault or the lack of something that means that a product etc is not perfect
demand1 spending on goods and services by companies and people in a particular economy
2 the total amount of a type of goods or services that people or companies buy in a particular period
3 the total amount of a type of goods or services that people or companies would buy if they were available
demergeif a company or unit demerges from a group, or if it is demerged, it becomes a separate company
deregulateif a government deregulates a particular business activity, it allows companies to operate more freely so as to increase competition
devioususing dishonest tricks and deceiving people to get what you want
differentiationwhen a company shows how its products are different from each other and from competing products, for example in its advertising
disclosure1 the duty of someone in a professional position to inform customers, shareholders
etc about facts that will influence their decisions
2 the act of giving information about someone by an organization or person who would normally have to keep that information secret, for example when a bank gives information about a customer’s accounts to the police
3 a fact which is made known after being kept secret dismissal when someone is removed from their job by their employer
disposal1 the act of getting rid of something
2 an asset that is sold, and the act of selling it
dispose1 if you dispose of something, you get rid of it
2 formal if a company disposes of a particular asset, activity etc, it sells it
distribution channelthe way a product is made available and sold, the organizations involved etc
diversify1 if a company or economy diversifies, it increases the range of goods or services it produces
2 to start to put your money into different types of investments in addition to the investments you already have
downmarketinvolving goods and services that are cheap and perhaps not of very good quality compared to others of the same type, or the people that buy them
dress codethe way that you are expected to dress in a particular situation, as an employee of a particular company etc
drive1 someone’s energy, motivation, and ability to work hard
2 an effort to improve or increase the level of something
drop1 to fall to a lower level or amount
2 to stop doing or planning something
dumpingthe activity of selling products in an export market cheaper than in the home market, or cheaper than they cost to make, usually in order to increase market share
economies of scalethe advantages that a bigger factory, shop etc has over a smaller one because it can spread its fixed costs over a larger number of units and thus produce or sell things more cheaply
economy drivea planned effort by an organization to reduce costs
endorseif someone, usually famous, endorses a product, they say how good it is in advertisements. People will buy the product because they like or trust the person
ethical1 connected with principles of what is right and wrong
2 morally good or correct
ethicsmoral rules or principles of behaviour that should guide members of a profession or organization and make them deal honestly and fairly with each other and with their customers
etiquettethe formal rules for polite behaviour
expand1 to become larger in size, amount, or number, or to make something larger in size, amount, or number
2 if a company expands, it increases its sales, areas of activity etc
extortto illegally force someone to give you money by threatening them
facility1 a place or large building which is used to make or provide a particular product or service
2 facilities [plural] special buildings or equipment that have been provided for a particular use, such as sports activities, shopping or travelling
fake1 made to look like something valuable or genuine in order to deceive people
2 a copy of an original document, valuable object etc that is intended to deceive people into believing it is the real document, object etc
fall1 to go down to a lower price, level, amount etc
2 when a person or organization loses their position of power or becomes unsuccessful
fiddle1 a dishonest way of getting money or not paying money
2 be on the fiddle to be getting money dishonestly or illegally
flaw1 a mistake or weakness in a machine, system etc that prevents it from working correctly
2 a mistake in an argument, plan, or set of ideas
flexible1 a person, plan etc that is flexible can change or be changed easily to suit any new situation
2 if arrangements for work are flexible, employers can ask workers to do different jobs, work part-time rather than full-time, give them contracts for short periods etc. Flexible working also includes job-sharing and working from home
flextimea system in which people who work in a company do a fixed number of hours each week, but can choose what time they start or finish work within certain limits
flight of capitalwhen money is moved rapidly out of a country, usually because its economy is doing badly or there is political uncertainty
fluctuateif prices, income, rates etc fluctuate, they change, increasing or falling often or regularly
fluctuationthe movement of prices, income, rates etc as they increase and fall
focuswhen a company serves particular groups of customers in a market with particular needs, rather than serving the whole market
focus groupa 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
franchise1 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
2 a particular shop, restaurant etc that is run under a franchise, or a company that owns a number of these
franchisingto sell franchises to people
franchiseesomeone who is sold a franchise and operates it
free porta 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
gamblingthe 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
global1 affecting or involving the whole world
2 including and considering all the parts of a situation together, rather than the individual parts separately
globalizationthe tendency for the world economy to work as one unit, led by large international companies doing business all over the world
goodwill paymenta 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 (GDP)the total value of goods and services produced in a country’s economy, not including income from abroad
gross domestic product per capitathe total value of goods and services produced in a country divided by the number of people living there
grow1 to increase in amount, size, or degree
2 if you grow a business activity, you make it bigger
growthan increase in size, amount, or degree
headquartersthe head office or main building of an organization
hoardinga large sign used for advertising.
hot-deskingwhen people working in an office do not each have their own desk, but work where there is one available
incentivesomething which is used to encourage people, especially to make them work harder, produce more or spend more money
income statementa 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.
incremental1 an incremental process is one where things happens in small steps
2 an incremental amount, sum etc is small when considered by itself
industrial espionagethe activity of secretly finding out a company’s plans, details of its products etc
infant industryan 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
infrastructure1 the basic systems and structures that a country needs to make economic activity possible, for example transport, communications, and power supplies
2 the basic systems and equipment needed for an industry or business to operate successfully or for an activity to happen
innovateto design and develop new and better
innovation1 a new idea, method, or invention
2 the introduction of new ideas or methods
innovative1 an innovative product, method, process etc is new, different, and better than those that existed before
2 using clever new ideas and methods
insider tradingwhen 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
integrity1 the state of being united or kept together as one whole, and therefore strong, unit
2 complete honesty
interest1 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 (=someone keeping money in an account there)
2 the interest rate at which a particular sum of money is borrowed and lent
3 the part of a company that someone owns
4 the possession of rights, especially to land, property etc
interpretersomeone who translates what someone says from one language into another, especially as their job
inventories1 a supply of raw materials or parts before they are used in production, or a supply of finished goods. Inventories of raw materials or parts are usually called stocks.
2 a supply of goods, kept for sale by a shop or other retailer.
inventory controlmaking sure that supplies of raw materials, work in progress, and finished goods are
managed correctly. Inventory control is also called stock control
ISO1 the name used internationally for the International Organization for Standardization, whose purpose is to establish international standards for services, goods, and industrial methods
2 ISO 9000 the ISO’s quality standard for companies producing goods
3 ISO 9001/9002 the ISO’s quality standards for companies providing services
jet lagthe tired and confused feeling you can get after flying a very long distance
jinglea short song or tune used in advertisements
joint venturea business activity in which two or more companies have invested together
kickback(informal) a bribe (=money that is paid secretly and dishonestly to obtain someone’s help)
knowledge workersomeone whose job involves dealing with information, rather than making things
labor unionan organization representing people working in a particular industry or profession, especially in meetings with their employers. Labor unions are also called trade unions.
laissez-fairethe idea that governments should do as little to the economy as possible and allow private business to develop without the state controlling or influencing them
launch1 to show or make a new product available for sale for the first time
2 to start a new company
3 to start a new activity, usually after planning it carefully
letter of creditin foreign trade, a written promise by an importer’s bank to pay the exporter’s bank on a particular date or after a particular event, for example when the goods are sent by the exporter
level1 the measured amount of something that exists at a particular time or in a particular place
2 all the people or jobs within an organization, industry etc that have similar importance and responsibility
liability1 an amount of money owed by a business to a supplier, lender, or other creditor
2 liabilities [plural] the amounts of money owed by a business considered together, as shown in its balance sheet
3 a person’s or organization’s responsibility for loss, damage, or injury caused to others or their property, or for payment of debts
liberalizeto make a system, laws, or moral attitudes less strict
limited liability companya company where individual shareholders lose only the cost of their shares if the company goes bankrupt, and not other property they own
logoa design or way of writing its name that a company or organization uses as its official sign on its products, advertising etc
loopholea small mistake in a law that makes it possible to do something the law is supposed to prevent you from doing, or to avoid doing something that the law is supposed to make you do
lose1 to stop having something any more, or to have less of it
2 to have less money than you had before or to spend more money than you are receiving
3 to fall to a lower figure or price
4 lose something (to somebody) to have something such as a contract or customers taken away by someone or something
5 lose ground to become less in value or to lose an advantage
loss1 the fact of no longer having something that you used to have
2 when a business or part of a business spends more money in costs than it gets in sales in a particular period, or loses money on a particular deal, problem etc
loyalif customers are loyal to a particular product, they continue to buy it and do not change to other products
margin(also profit) margin the difference between the price of a product or service and the cost of producing it, or between the cost of producing all of a company’s products or services and the total sum they are sold for
market challengeran organization or product that may take the place of the organization or product that has the highest sales in its market or industry
marketing mixthe combination of marketing actions often referred to as product, price, place, and promotion: selling the right product, through appropriate distribution channels, at the right price in relation to other products and for the profitability of the company, with the correct support in terms of advertising, sales force etc
market leaderan organization or product that has the highest sales, or one of the highest sales, in its market or industry
market nichera product or service sold in a niche market (=a market for a product or service, perhaps an expensive or unusual one, that does not have many buyers) or the company that sells it
merchandisegoods that are produced in order to be sold, especially goods that are sold in a store
mergeif two or more companies, organizations etc are merged, they join together
mergeran occasion when two or more companies, organizations etc join together to form a larger company
middlemana person, business, organization etc that buys things in order to sell them to someone else, or that helps to arrange business deals for other people
mission statementa short written statement made by an organization, intended to communicate its aims to customers, employees, shareholders etc
model1 a particular type or design of a vehicle or machine
2 a simple description or structure that is used to help people understand similar systems or structures
3 the way in which something is done by a particular country, person etc that can be copied by others who want similar results
moralethe level of confidence and positive feelings among a group of people who work together
motivate1 to encourage someone and make them want to achieve something and be willing to work hard in order to do it
2 to provide the reason why someone does something
motivatedvery keen to do something or achieve something, especially because you find it interesting or exciting
motivation1 eagerness and willingness to do something without needing to be told or forced to do it
2 the reason why you want to do something
nepotismthe practice of giving jobs to members of your family when you are in a position of power
niche marketa market for a product or service, perhaps an expensive or unusual one that does not have many buyers but that may be profitable for companies who sell it
open-plan officeoffices that do not have walls dividing them into separate rooms
optimizeto make the best possible use of something or to do something in the best possible way
overtime1 time that you spend working in your job in addition to your normal working hours
2 time that a factory, office etc is operating in addition to its normal hours
3 the money that you are paid for working more hours than usual
partner1 a company that works with another company in a particular activity, or invests in the same activity
2 someone who starts a new business with someone else by investing in it
3 a member of certain types of business or professional groups, for example partnerships of lawyers, architects etc
4 also economic partner a country that invests in another or is invested in by another, or that trades with another
5 also trade partner, trading partner one country that trades with another
partnership1 a relationship between two people, organizations, or countries that work together
2 the situation of working together in business
3 a business organization made up of a group of accountants, lawyers etc who work together, or of a group of investors
patenta legal document giving a person or company the right to make or sell a new invention, product, or method of doing something and stating that no other person or company is allowed to do this
peakthe time when prices, shares etc have reached their highest point or level
peak timethe time etc when the greatest number of people are doing the same thing, using the same service, etc
phone rageangry behaviour on the telephone by people who are not satisfied with the service they are receiving
pioneerthe first person or organization to do something that other people and organizations will later develop or continue to do
plummetto suddenly and quickly go down in value or amount
point-of-sale advertisingadvertising for a product in places where it is sold
prime timethe time in the evening when most people are watching television, and the cost of advertising is at its most expensive
product portfolioall of a company’s products considered as a group
profit and loss accounta financial document showing the amount of money earned and spent in a particular period of time by a company. This is also called the income statement
promotion1 a move to a more important job or rank in a company or organization
2 also sales promotion an activity such as special advertisements or free gifts intended to sell a product or service
protectionismthe idea that a government should try to help an industry in its country by taxing foreign goods that compete with it, limiting the number that can be imported etc, and the actions that it takes to do this
prototypethe first form that a new design of a car, machine etc has
public limited company (PLC)a limited company whose shares are freely sold and traded
qualification1 an examination that you have passed at school, university, or in your profession
2 a skill, personal quality, or type of experience that makes you suitable for a particular job
quality circlea small group of employees who meet regularly to discuss ways to improve working methods and to solve problems
quotaan official limit on the number or amount of something that is allowed in a particular period
R and D research and developmentthe part of a business concerned with studying new ideas and developing new products
rationalizationto make a business or organization more effective by getting rid of unnecessary staff, equipment etc, or reorganizing its structure
real estateland or buildings and the business of buying and selling them
recall1 if a company recalls one of its products, it asks customers to return it because there may be something wrong with it
2 to remember something that you have seen or heard, such as an advertisement
receipt1 the act of receiving something
2 a document given by someone, showing that they have received money, goods, or services
recessiona period of time when an economy or industry is doing badly, and business activity and employment decrease. Many economists consider that there is a recession when industrial production falls for six months in a row
recover1 to increase or improve after falling in value or getting worse
2 to get back money that you have spent or lost
3 to get back something that was stolen, lost, or almost destroyed
recovery1 when prices increase, or when the economy grows again after a period of difficulty
2 the act of getting something back, such as money that you are owed
recruit1 to find new people to work for an organization, do a job etc
2 someone who has recently joined a company or organization
recruitment1 the process or the business of recruiting new people
2 an occasion when someone is recruited
redundancywhen someone loses their job in a company because the job is no longer needed
reference1 a letter written by someone who knows you well, usually to a new employer, giving information about your character, abilities, or qualifications
2 a person who provides information about your character, abilities, or qualifications when you are trying to get a job
reliablesomeone or something that is reliable can be trusted or depended on
relocateif a company or workers relocate or are relocated, they move to a different place
resignto officially leave a job, position etc usually through your own choice, rather than being told to leave
resources1 something such as oil, land, or natural energy that exists in a country and can be used to increase its wealth
2 all the money, property, skill, labour etc that a company has available
restrictionan official rule that limits or controls what people can do or what is allowed to happen
retailer1 a business that sells goods to members of the public, rather than to shops etc
2 someone who owns or runs a shop selling goods to members of the public
retail outleta shop through which products are sold to the public
riseto increase in number, amount, or value
rocket upif a price or amount rockets up, it increases quickly and suddenly
sample1 a group of people who have been chosen to give opinions or information about something
2 a small amount of a product that people can try in order to find out what it is like
secondto officially support a suggestion, idea etc made by another person at a formal meeting so that it can be discussed or voted on
security1 action to keep someone or something safe from being damaged, stolen etc
2 a feeling of being safe and free from worry about what might happen
3 property or other assets that you promise to give someone if you cannot pay back the money that you owe them
4 a financial investment such as a bond or share, or the related certificate showing who owns it
segment1 a part of the economy of a country or a company’s work
2 a group of customers that share similar characteristics, such as age, income, interests, social class etc
sell-offwhen a business, company etc, or part of one, is sold to another company
shareone of the parts into which ownership of a company is divided
share capitalcapital in the form of shares, rather than in the form of loans
shareholdersomeone who owns shares in a company
skillan ability to do something well, especially because you have learned and practised it
sleazeimmoral behaviour, especially involving money or sex
sleeping partnera partner who invests in a business but does not take an active part in managing it
slipto become worse or less or fall to a lower amount, standard etc than before
slota particular time when a television programme or advertisement is shown
slush fundan amount of money collected for illegal purposes, especially by a politician
sole tradera legal form of company in some countries for someone who has their own business, with no other shareholders
speculate1 to buy goods, shares, property etc in the hope that their value will increase so that you can sell them at a higher price and make a profit, often quickly
2 to think or talk about the possible causes or effects of something without knowing all the facts or details
speculative1 bought or done in the hope of making a profit
2 based on guessing, not on information or facts
stabilizeto become firm, steady, or unchanging, or to make something do this
stakemoney risked or invested in a business
stakeholdera member of groups without whose support the organization would cease to exist
standto be at a particular level or amount
start-upa new company
stock1 one of the shares into which ownership of a company is divided, or these shares
considered together
2 a supply of a commodity (=oil, metal, farm product etc) that has been produced and is kept to be used when needed
3 a supply of raw materials or parts before they are used in production, or a supply of finished goods. Usually called inventories.
4 a supply of goods, kept for sale by a shop or other retailer.
stock controlmaking sure that supplies of raw materials, work in progress, and finished goods are
managed correctly.
straightbe/play straight – to be honest and truthful with someone
strategicdone as part of a plan to gain an advantage or achieve a particular purpose
strategy1 a plan or series of plans for achieving an aim, especially relating to the best way
for an organization to develop
2 the process of skilful planning in general
stresscontinuous feelings of worry about your work or personal life, that prevent you from relaxing
subliminal advertisingwhen images appear very quickly during a television or cinema advertisement with effects that people are not conscious of
subsidiarya company that is at least half-owned by another company
subsidizeif a government or organization subsidizes a company, activity etc, it pays part of the cost
subsidymoney that is paid by a government or organization to make something cheaper to buy, use, or produce
sweetener1 something used to make an offer, suggestion etc more attractive
2 a bribe (=illegal or unfair payment made to someone to persuade them to do something)
swindleto get money from someone dishonestly by deceiving them
tactica method that you use to achieve something
tacticaldone in order to achieve what you want at a later time, especially in a large plan
tailoredto make something or put something together so that it is exactly right for someone’s needs
take over1 to take control of something
2 to take control of a company by buying more than half of its shares
takeover targeta company that may be bought or that is being bought by another company
target1 an organization, industry, country etc that is deliberately chosen to have something done to it
2 a result such as a total, an amount, or a time which you aim to achieve
targeted1 to make something have an effect on a particular limited group or area
2 to choose someone or something as your target
tariffa tax on goods coming into a country or going out of it
teaseran advertisement intended to get people’s attention for advertisements that will come later or products that will be available later
total quality management (TQM)the management of systems in a company in order to make sure that each department is working in the most effective way and to improve the quality of the goods the company produces
track recordall the things that a person or organization has done in the past, which shows how good they are at doing their job, dealing with problems etc.
trade unionan organization representing people working in a particular industry or profession, especially in meetings with their employers. Trade unions are also called labor unions.
transaction1 a business deal, especially one involving the exchange of money
2 the act of paying or receiving money
transitionthe act or process of changing from one state or form to another
trendthe general way in which a particular situation is changing or developing
trial1 a legal process in which a court of law examines a case to decide whether someone is guilty of a crime
2 a process of testing a product to see whether it is safe, effective etc trial
turnaround1 the time between receiving an order for goods, dealing with it, and sending the goods to the customer
2 a complete change from a bad situation to a good one
3 a complete change in someone’s opinion or ideas
turnover1 the amount of business done in a particular period, measured by the amount of money
obtained from customers for goods or services that have been sold
2 the rate at which workers leave an organization and are replaced by others
3 the rate at which goods are sold
unique selling proposition – USPthe thing that makes a particular product different from all other similar products
unscrupulousbehaving in an unfair or dishonest way
upgrade1 to make a computer, machine etc better and able to do more things
2 to buy a new computer, machine etc that is better and able to do more things than your old one
3 to get a better seat on a plane, a better rented car etc than the one you paid for, or give someone a better seat etc than the one they paid for
upmarketinvolving goods and services that are expensive when compared to others of
the same type, or the people that buy them
upscalemove upmarket/upscale to start buying or selling more expensive goods or services
voice maila system for leaving messages for people by telephone, or the messages themselves
volume1 the amount of space that a substance or object contains or fills
2 the total amount of something
warrantya written promise that a company gives to a customer, stating that it will repair or replace a product they have bought if it breaks during a certain period of time. Warranty is another word for guarantee
welfarehelp that is given by government to people with social or financial problems because they are unemployed, ill etc
whistleblowersomeone working for an organization who tells the authorities that people in the organization are doing something illegal, dishonest, or wrong
wholesalera person or company that sells goods in large quantities to other businesses, who may then sell them to the general public
withdraw1 to take money out of a bank account
2 to remove something or take it back, often because of an official decision
3 if a company withdraws a product or service, it stops making it available, either for a period or permanently
withdrawal1 the act of taking money out of a bank account, or the amount you take out
2 the removal or stopping of something such as support, an offer, or a service
3 also product withdrawal the act of no longer making a product available, either for a period or permanently
4 the act of no longer taking part in an activity or being a member of an organization
workforceall the people who work in a particular country, area, industry, company, or place of work
zero defectsthe aim of having no faults at all in products


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