UNIT 1 - THE BUSINESS WORLD

what the fuck

float (floatation)

to start selling shares in a business or company for the first time

to suggest a plan or an idea to be considered (float an idea)

to allow the value of a country's money to change according to the value of other countries' money (finance, economics)

overrun

If unwanted people or things overrun, they fill a place quickly and in large numbers

a finishing time or a cost that continues past an intended limit

to continue past an intended limit, especially a finishing time or a cost

recapitalize

if a company recapitalizes or is recapitalized, it gets more capital or changes the way its capital is organized

audit

to make an official examination of the accounts of a business and produce a report

break even

to have no profit or loss at the end of a business activity

credit crunch

economic conditions that make financial organizations less willing to lend money, often causing serious economic problems

credit check

an examination of someone's credit history (= record of paying debt) by, for example, a financial organization that is considering lending them money or a possible employer

double-dip recession

a period of time during which economic activity goes down, increases a little, and then goes down again

cottage industry

a small business run from home

corporate ladder

a series of increasingly important jobs that someone can do within a company

cash flow

the amount of money moving into and out of a business

junk bond

a type of bond (= a document showing that someone has lent money that will be paid back at a particular interest rate, that can be traded on financial markets) that offers a high rate of interest but has a high risk of not being paid

false bottom

an internal partition in a container, typically at the bottom of a drawer, suitcase or similar item, enabling the concealment of objects from a cursory examination of the item's contents.

factory floor

the area where the ordinary workers in a factory work

cut-throat business

competing in a strong and unfair way, without considering any harm caused to others

exit strategy

An exit strategy is a contingency plan used by investors, business owners, or traders to liquidate an asset or transition out of a venture.

market penetration

Market penetration is the measurement of how much a product or service is being used by consumers compared to its total estimated target market

orientation

the particular interests, activities, or aims of an organization or business

mitigating factors/ circumstance

A mitigating factor, also known as an extenuating circumstance, is any information or evidence presented to the court regarding the defendant that helps explain why a bad action happened. They do not excuse the mistake, but they soften the blame.

predatory lending/ pricing/ advertising/ publishing

Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent.

Predatory pricing is the illegal business practice of setting prices extremely low in an attempt to eliminate the competition and establish a monopoly.

Predatory advertising, or predatory marketing, can be largely understood as the practice of manipulating vulnerable persons such as children, or adults with cognitive issues into unfavorable market transactions through the undisclosed exploitation of these vulnerabilities.

Predatory publishing, also known as write-only publishing or deceptive publishing, is the usage of exploitative and fraudulent publishing models by academic journals and publishers where they prioritize financial or reputational gain over the advancement of scholarship.

meritocracy

A meritocracy is a social or political system where wealth, power, and status are awarded based on individual ability, effort, and achievement

punitive damages

Punitive damages (also called exemplary damages) are additional monetary penalties awarded in a civil lawsuit to punish a defendant for intentional, malicious, or grossly negligent misconduct. Unlike compensatory damages, which reimburse a plaintiff for actual losses, punitive damages are intended to deter the wrongdoer and others from similar behavior in the future

protectionism > < free trade

Protectionism is an economic policy designed to shield domestic industries from foreign competition by restricting international trade

mark-up / mark-down

increase/ reduce the price of smth

purveyor = supplier

a person or business that sells, supplies, or spreads specific goods, services, or information

mogul

a very rich or powerful person, usually in business or the media

related: luminary: a person who is famous and important in their field

windfall

an unexpected, unearned, or sudden gain, advantage, or amount of money

(+ taxes)

tranche

one of several parts of a financial arrangement, payment, amount, etc.

pyramid scheme

an investment fraud in which new participants' fees are typically used to pay money to existing participants for recruiting new members.

sleeping partner

a partner in a company who does not take an active part in its management, especially one who provides some of the money.

hush money

a secret payment made to a person to buy their silence and prevent them from disclosing damaging, embarrassing, or illegal information

passing trade

people who go into a shop, restaurant, etc. because they see it when walking past, not because they planned to go there:

nest egg

an amount of money that has been saved or kept for a special purpose. Regular investment of small amounts of money is an excellent way of building a nest egg.

gagging order

an official order not to discuss something, especially a legal case

inheritance tax

a tax paid on the value of the property, money, and other assets of someone who has died:

stamp duty

a UK tax that you pay when you buy a house, apartment, transferring goods, etc., or when you buy shares

hyper inflation

an extreme economic event where a country's inflation rate exceeds 50% per month, causing money to lose its value so rapidly that prices for goods and services spiral completely out of control

insider trading

the buying or selling of a public company's securities (property or goods that you promise to give to someone if you cannot pay what you owe them) while possessing material, nonpublic information about that company.

bonanza = windfall

something that suddenly produces large profits or great opportunities

speculator = market player/ participant

a person who buys goods, property, money, etc. in the hope of selling them at a profit

one of the people or companies involved in a particular financial market

sole trader = self employed

a self-employed person (= someone who works for themselves, not for an employer) who owns and runs their business without a business partner or partners.

blue-collar = working class

relating to people who do physical work rather than mental work, and who usually do not work in an office: blue-collar workers

outlay = expenditure

an amount of money spent, esp. at the beginning of a planned activity or business:

annuity = pension

a fixed amount of money paid to someone every year, usually until their death, or the insurance agreement or investment that provides the money that is paid

an amount of money paid regularly by the government or a private company to a person who does not work any more because they are too old or have become ill

dividend

(a part of) the profit of a company that is paid to the people who own shares in it

white-collar worker

a person who performs knowledge-based, aptitude-based, managerial, or administrative work generally performed in an office or similar setting.

pink-collar worker

someone working in career fields historically considered to be women's work.

green-collar worker

Usually referring a wide range of professions relating to the environment and renewable energy, but can also refer to military personnel

gray-collar worker

refers to labor which blurs the line between blue- and white-collar work, requiring both physical and intellectual labour, and may require specialized training or college degrees. Commonly given examples: first responders, nurses, conservationists, and pilots.

market research

the systematic process of gathering, analyzing, and interpreting data about a target market, consumers, and competitors

roll out / churn out

to make a new product, service, or system available for the first time

to produce large amounts of something quickly, usually something of low quality

stiff competition

an intense, challenging, or tough contest where the opponents are equally matched and highly skilled

mean business

to want very much to achieve something

order books

a book in which a business keeps a record of customers' orders

labor market

the supply of people in a particular country or area who are able and willing to work

earnings = pay= salary = remuneration

the amount of money that someone is paid for working

management / administration

(people) the control and organization of something

Capital accumulation

the process of creating or increasing the assets that are needed to produce goods and services

tariff

a tax on goods coming into or going out of a country

sanction

an official order, such as the stopping of trade, that is taken against a country in order to make it obey international law

a strong action taken in order to make people obey a law or rule, or a punishment given when they do not obey

demographic image

relating to human populations and the information collected about them, such as their size, growth, ages, and education

advertising campaign

a planned group of actitivies intended to advertise something

value proposition

a statement that clearly outlines the unique benefits and value a company offers to its customers. It answers why a customer should choose your product or service over others.

sales forecasting

the process of predicting what a company is likely to sell over a future period, typically measured in weeks, months or quarters

brand equity

the value premium (an amount of money paid to get insurance/ something extra given or an extra amount charged) that a company generates from a product with a recognizable name, when compared to a generic equivalent.

the value a company gains from its name recognition and its perceived benefits and admirable qualities.

cross-selling

a sales technique involving the selling of an additional product or service to an existing customer

up-selling

the act of trying to persuade a customer who is already buying something to buy more, or to buy something more expensive

pipeline

a series of connected tubes for transporting gas, oil, or water, usually over long distances

revenue

the income that a government or company receives regularly

balance sheet

a statement that shows the value of a company's assets (= things of positive value) and its debts

income statement

a core financial document that summarizes a company’s revenues, expenses, gains, and losses over a specific accounting period (e.g., a month, quarter, or year)

liquidity

how quickly and easily an asset can be converted into ready cash without significantly affecting its market price

amortization

the process of spreading out a loan into a series of fixed, regular payments over time or gradually writing down (to show in a company's accounts (= financial records) that something is worth less than it was before) the value of an intangible asset over its useful lifespan

net / gross income

an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes, and other expenses for an accounting period.

the sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before any deductions or taxes. It is opposed to net income, defined as the gross income minus taxes and other deductions.

return on assets / equity

the percentage of how profitable a company's assets are in generating revenue.

roa = net income / average total assets

a measure of the profitability of a business in relation to its equity; where:

roe = net income / average shareholders’ equity

quality control

the process businesses use to review, test, and measure products or services to ensure they meet predefined quality and safety standards

six sigma

a data-driven methodology aimed at eliminating defects and reducing variation in business and manufacturing processes

metrics

a set of numbers that give information about a particular process or activity

upskill

to learn new skills or to teach workers new skills

diversity training

a type of corporate training designed to facilitate positive intergroup interaction, reduce prejudice and discrimination, and teach different individuals how to work together effectively.

job rotation

the lateral transfer of employees between jobs in an organization without a change in their hierarchical rank or salary grade. Rotated employees usually do not remain in these jobs permanently and may also not return to former jobs.

reverse logistics

the supply chain process of moving goods backward from the end consumer to the seller, distributor, or manufacturer

lead time

the total time required to complete a process, from the moment a request or order is initiated to the delivery of the final product or service

Bullwhip Mitigation Strategies

bullwhip effect : a supply chain phenomenon where small, localized fluctuations in retail consumer demand cause increasingly large, distorted fluctuations in orders and inventory at the manufacturing and supplier levels

Inbound Logistics

the management of the supply side of a business.

equity

the value of a company, divided into many equal parts owned by the shareholders, or one of the equal parts into which the value of a company is divided