Glossary IV

negotiate

to discuss something in order to reach an agreement

nepotism

the practice of giving jobs to members of your family when you are in position of power

networking

making use of meetings with other people involved in the same kind of work in order to share information, help each other

occupancy

used to talk about how many beds or rooms in a hotel, hospital etc. are being used by guests, patients etc.

outlet

a shop, company or organisation through which products are sold

outsource

if a company, organisation, etc. outsources its work, it employes another company to do it

overdraft

an arrangment between a bank and a customer, allowing them to take out more money from their current account than they had in it, or the amount involved

overtime

the money that you are paid for working more than usual

overwork

when someone works too much or too hard

partner

1 someone who starts a new business with someone else by investing in it 2. a company that works with another company in a particular activity, or invests in the same activity

partnership

the situation of working together in business

pawnbroker

someone whose business is to lend people money in exchange for valuable objects

performance appraisal

a meeting between an employee and a manager to discuss the quality of the employee's work and areas for future progress

perk

something in addition to money that you get for doing your job, such as a car

pitch

to try to make a business agreement, or to sell something in a particular way

portfolio

all the products or services offered by a particular business

position

if a company positions a product in a particular way, it tries to get people to think about it in that way in relation to the company's other products and to competing products

positioning

the way that people think about a product in relation to the company's other products an to competing products, or the way that the company would like them to think about it

premium(n)

an additional amount of money, above a standard amount or rate

premium (adj)

premium products, goods are of higher quality than usual

principal

the original amount of a loan not including anyof the interest which is pai

production

the process of making or growing things to be sold as products, usually in large quantities

promote

to help sth develop, grow, become more successful 2to try hard to sell a product or service by advertising it widely, reducing its price 3to give someone a better paid, more responsible job in a company or organisation

promotion

an activity such as special advertisements or free gifts intended to sell a product or service

public offering

an occasion when shares are offered to all interested investors, and the amount of shares involved

purchase

to buy sth, especially sth big or expensive

rate

1 the speed at whch sth happens 2 the percentage charged for borrowing money, or a percentage you receive when you put money in bank, make an investment 3 the number of examples of sth or the number of times sth happens%

rebrand

if a company rebrands a product or service it tries to change the wat people think about it, often b changng its name or the way it is advertised

recall

if a company recalls a product it asks customers to return it because there may be something wrong with it

recession

a period of time when an economy or industry is doing badly, and business activity and employement decrease. Many economists consider that there is a recession when industrial production falls for six months in a row

recipient

someone who receives something

recruitment

the process or the business of recruiting new people

reduce

to make something less or smaller in price, amount or size

redundancy

when someone loses their job in a company because the job is no longer needed

refund(n)

a sum of money that is given back to you

refund(v)

to give someone their money back, for example because they are not satisfied with the goods or services they have paid for

reinsurer

an insurancfe company that agrees to share a large insurance risk with another company and to pay part of any loss

reliable

someone or something that you can depend on

relocate

if a company or worker relocates or is relocated, they move to a different place

rep

someone employed to sell a company's products or services by meeting customers or talking o them on the phone

repay

to pay back the money that has been borrowed

replace

to remove someone from their job, position etc and give a job to a different person

retail

a shop etc that is open to members of the public

retailer

a business that sells goods to members of the family

retain

to keep sth or to continue to have it 2to continue to employ people after a company has changed ownership, reduced in size

return(v)

if you return a telephone call, you telephone someone because they have telephoned you

return(n)

the amount of profit made from an investment

return (adj) a ticket

that allows you to travel to a place and back again

returnable

can or should be sent back to the place or person it came from

revenue

money that a business or organisation receives over a period of time, especially from selling goods or services

savings account

a bank account for saving money over a long period of time, usually with higher interest than an ordinary deposit account

savings bonds

a government bond sold to encourage people to save and invest small amounts of money

second

to arrange for an employee to work for another organisation for a period of time secondment

security

property or other assets that you promise to give someone if you cannot pay back the mpney that you owe them

segment(n)

a group of customers that share similar characteristics, such as age, income, interests and social class 2 the products or services in a particular part of the market

segment(v)

to divide a large group of people into smaller groups of people of a similar age or with similar incomes/interests(segmentation)

service contract

an agreement between a company and one of its directors, stating what the director will do, how much will they be paid

sever

to end a business relationship or connection with someone because of a disagreement

severance

the act of officially ending an agreement or contract, especially between an employer and an employee

share

one of the parts into which ownership of a company is divided

shareholder

someone who owns shares in the company

slogan

a short phrase that is easy to remember and is used by an advertiser, organisation or other groups

slowdown

when sth gets slower

sponsor (v)

to give money for a television programme, a sports or arts event, training etc. in exchange for adverising or to get public attention

sponsor(n)

a person or company that pays for a television programme a sports or arts event, training etc. in exchange for adverising or to get public attention

sposorship

financial support given to pay for a sports or arts event, training etc. in exchange for adverising or to get public attention

stake

money risked or invested in a business

standard

a level of quality, skill, ability or achivement by which someone or something is judged and that is considered good enough to be acceptable

statement

something you say or write publicly or officially to let people know your intentions or opinions, or to record facts 2a list showing amounts of money paid, received owning and their total