Product Family Advertising – a “product family” ad is designed to convince the prospect that they have a wide range of functionality to choose from today and after they buy they will not be locked into a single product or service environment in the future.
Product Liability – Area of the law in which a manufacturer or retailer is legally responsible for any damage or injury caused by a defective product.
Product Life Cycle – The normal stages that a product passes through from development to decline until it becomes obsolete, usually because it has saturated the market because everyone who wants it has purchased it.
Product Placement – Also called Embedded Marketing. A type of advertising where a company pays a fee to have one or more of its products used as props in a film or television show.
Product Portfolio – A variety of products which are manufactured or distributed by a company or organisation.
Production Capacity – the volume of products or services that can be produced by an enterprise using current resources.
Productivity – The rate at which goods are produced based on how long it takes, how many workers are required, how much capital and equipment is needed, etc.
Professional Liability – The legal liability of a professional, such as a doctor, accountant, lawyer, etc., who causes loss, harm or injury to their clients while performing their professional duties.
Profit Margin – total revenues less total expenses
Profit Sharing – An incentive scheme in which a business shares some of its profit , usually in cash or shares, with its employees.
Profit Squeeze – A situation in which a company or business makes less profit over a period of time because of rising costs and/or falling prices.
Profit-centre – A business division or department or unit which is responsible for producing a profit, for example a shop unit within a chain of shops, or a branch within a network dealerships. Significantly a Profit-centre business unit will use a ‘Profit and Loss Account’ as a means of managing and reporting the business. A profit centre is involved in selling to customers. See Cost-centre, which tends only to be responsible for internal services and supply to other departments.
Profiteer – An organisation or individual who makes excessive profits by charging very high prices for goods which are in short supply.
Program Trading – On the Stock Market, the buying and selling of large amounts of shares by computer, the program of which is triggered when trading reaches a certain level of volume.
Prohibitive – Preventing or discouraging something, for example people are discouraged from buying a product because the price is prohibitive, i.e., too high.
Project Management – The process of managing and planning a successful project from start to finish, which includes controlling, organising, managing resources, etc.
Promo – A promotional broadcast on television, radio, etc., advertising a product, TV show, film, etc.
Promotion – The use of marketing and/or advertising to bring attention to a product, brand, service, company, etc., usually in order to increase sales. The raising of an employee to a higher rank in an organisation.
Prompt Note – A document sent to someone to remind them when a payment is due on a purchase.
Proof Copy – The printed pages of a book, magazine, etc., which is read and corrected (e.g. spelling mistakes) by a Proof Reader before the final printing of all the copies.
Propaganda – Politically motivated publication or writing designed to influence thinking or action, usually in a misleading way. When carried out by a government or other authority this may also be referred to in more modern terms as ‘spin’. The word derives from the Latin name of a Roman Catholic committee responsible for ‘propagation of the faith’ in the 1600s.
Proprietary Technology – technology that is unique and legally owned by an enterprise. The technology may be integral to the product or service being offered or it may be used in the production of the product or service.
Proprietary Trading – The buying and selling of shares, bonds, etc., by a securities firm with its own money for its own profit, rather than for its customers.
Proptype – An original design or working model of something, often used in demonstrations.
Prosecute – To bring a criminal charge against someone in a court of law.
Prospectus – A document published by a company which is offering its shares for sale, disclosing information such as the company’s activities, objectives, finances, etc. A book published by a university or school containing information about courses, etc.
Prosumer – Profession/Producer Consumer. A consumer who is involved in the specification of products, or has professional tools and is involved in the the design and manufacture of products.
Protectionism – The policy of a country protecting its own industries against foreign competition by imposing taxes, etc., on imported goods.
Protocol – In computing, a set of rules which determine the way data is transmitted between computers. The code of conduct in an organisation, etc.
Provident Fund – A form of retirement savings. An employer and employee pay regular, usually equal, amounts into an investment fund, which is then paid to the employee upon retirement, often in a lump sum.
Proviso – A clause in a contract which makes a condition or stipulation.
Proxy – A person who has been given the authority to act for another person, e.g., a proxy can vote on behalf of a shareholder.
Pseudo – Pronounced ‘sudo’, this is a prefix which can be put before many different words to represent a fake or false quality which often attempts to imitate or behave as the real thing. From Greek pseudos, meaning falsehood.
Pseudonym – a false name, commonly adopted by a writer seeking to hide their true identity.
Psychographic Segmentation – The process of identifying and dividing consumers into groups according to their interests, attitudes, social class, values, personality, etc.
Psychographics – Used in marketing, the analysis of peoples characters, lifestyles, attitudes, purchasing habits, etc.
Psychological Contract – usually expressed as ‘the Psychological Contract’, this is the understanding between employee(s) and employer as to their mutual expectations arising from the employment relationship. The expectations involve a complex balance of inputs and rewards, including contractually clear elements such as hours and pay, and extend to implications and assumptions about security, loyalty, and other highly subjective factors. The Psychological Contract is a two-way notional agreement between employee and employer, typically analysed from the employee perspective. Psychological Contract theory potentially extends to relationships between suppliers and customers, and between the state and its people.
Psychometric Test – A test which measures a person’s personality, mental ability, knowledge, etc., often used to ascertain whether a potential employee is suitable for a job.
Public Company – A company whose shares are traded on the Stock Market.
Public Debt – Also known as National Debt. The total amount of money owed by a country’s national and local governments.
Public Domain – Something that is not protected by copyright and is openly available for anyone to use, look at, etc.
Public Employee – A person employed by the government.
Public Enterprise – A business or economic activity owned and controlled by the government.
Public Issue – When a company offers shares for sale to the public for the first time.
Public Liability – When the owner of a business, etc., is responsible for any injury or harm inflicted on a member of the public because of negligence or unsafe products, etc., against which an insurance policy can be obtained by the business.
Public Relations – PR. The promotion of an organisation or person with the aim of creating a favourable relationship with the public.
Public Works – Buildings and structures constructed by the government for public use, such as roads, bridges, schools, hospitals, etc.
Publicist – A publicity or press agent who publicises organisations, people, etc.
Puff – In advertising, to exaggerate the qualities of a product, etc., without actually breaking the law.
Pull Promotional Strategy – a process that requires direct interface with the end user of the product or service. Use of channels of distribution is minimized during the first stages of promotion and a major commitment to advertising is required. The objective is to “pull” the prospects into the various channel outlets creating a demand the channels cannot ignore.
Pull Strategy – Used in marketing to create a demand for a product by means of advertising and promoting to the end consumer, rather than through the marketing channel. To ‘pull’ the product through from distributor to final consumer.
Pump And Dump – The illegal practice of artificially boosting share prices by false and misleading statements in order to sell the originally cheap shares at much higher prices.
Punitive – Inflicting or concerned with punishment, for example punitive taxes, punitive justice.
Punitive Damages – Damages awarded, over and above general damages, by a court of law against a defendant who has committed a malicious act which has resulted in injury to a person or damage to property, in order to deter the defendant from committing similar acts in future.
Purchase Ledger – A record of a company’s accounts which shows amounts owed to suppliers for items purchased on credit.
Purchasing Officer – A company employee who is responsible for the purchasing of equipment, materials and services from suppliers and contractors.
Purchasing Power – Also called spending power, the amount of goods or services which can be purchased with a particular currency, or more generally, the amount of money a person or group has available to spend on goods and services. The term may also emphasise a group or organization’s ability to achieve heavily discounted prices or rates due to the high buying volumes.
Pure Play – Term that relates to a company which deals in one specific line of business, rather than a range of products, services, etc.
Purveyor – A company or person who supplies provisions, especially food.
Push Promotional Strategy – a process of maximizing the use of all available channels of distribution to “push” the product or service into the marketplace. This usually requires generous discounts to achieve the objective of giving the channels incentive to promote the product or service, thus minimizing your need for advertising.
Push System – In production, a system in which the demand for goods is predicted by the company, so more goods are made to keep up with pre-set levels rather than customer demand.
Put Option – An option in a contract giving the holder the right to sell shares, materials, etc., at a specified price at, or up to, a fixed date.
Pyramid Scheme – Illegal in several countries, a scheme in which people are paid for recruiting others who pay a fee, part of which goes to the person who recruited them as a commission. In order to get their payment the recruits then have to find new recruits to pay a fee. This goes on until there is no one left to recruit and the people who come into the scheme last end up losing their money. The difference between Pyramid Selling and a Pyramid Scheme is that is that the latter has no product. (See Ponzi Scheme)
Pyramid Selling – A system in which people buy the rights (often a franchise) to sell a company’s products to other distributors who have been recruited, who then sell the products on to other recruits. This type of selling often ends up with no final buyer for the products. The few people at the top of the pyramid commonly make a lot more money than the many people at the bottom.
Qualified Opinion – A statement written by an independent auditor which accompanies a business’s financial statements, saying that the audit has been limited, e.g., because the auditor may not have been able to collect all the information required to carry out a full audit.
Qualifying Period – The length of time an employee must serve in a job before being entitled to various benefits, or being able to make a claim against unfair dismissal.
Qualitative – Associated with a thing’s quality which cannot be measured, such as feel, image, taste, etc. Describes peoples qualities which cannot be measured, such as knowledge, behaviour, attitude, etc.
Quality – An attribute or level of excellence. The standard of a product, service, etc., as measured against similar products, services, etc. A distinctive characteristic or attribute possessed by someone or something.
Quality Assurance – QA. A system in which the delivery of a service or the quality of a product is maintained to a high standard, especially by means of attention to every stage of the process.
Quality Circle – Originating in Japan, a group of workers in a company who meet regularly to discuss ways in which to improve working conditions for employees and productivity for the company.
Quantitive/Quantitative – Related to or measured in numbers. Comparison based on quantity rather than quality.
Quantity Surveyor – In the UK, a professional who works in the construction industry, whose job is to calculate the cost of materials, labour, etc., needed to complete a project.
Quarter Day – In the UK, a fixed day of each quarter of the year on which certain payments, such as rents, are due.
Questionnaire – A form containing a list of research or survey questions for people to answer, so that information can be gathered for analysis
Quorum – The minimum number of people who must attend a meeting in order for valid business to be conducted.
Quota – An official allocation of something, or a limited amount of people allowed. A fixed amount of something, e.g. sales, which must be reached.
Quoted Company – A company whose shares are listed on the Stock Exchange.
R&D – Research and Development. Investigative work carried out by a business to improve and develop products and processes.
Race Relations Act – A British government Act, introduced in 1976, making it unlawful to discriminate against someone because of their colour, race, nationality or ethnic origin.
Race To The Bottom – A phrase said to be coined by US Supreme Court Justice Louis Brandeis. A situation in which competition between nations could result in lower standards, cheaper wages, poorer working conditions, etc.
Rack Rate – The full price of something before discounts have been offered, especially hotel rooms.
Racketeer – A person who makes money through illegal business or crime, such as extortion, bribery, fraud, etc.
Raid – On the Stock Exchange, a situation where an individual or company makes a hostile bid to take over another company by buying a controlling interest in the company’s shares.
Rainmaker – An employee, often an executive, who brings a lot of business and income to a company.
Random Sample – Often used in research, a method of sampling members of a large group, such as a population, in which everyone has an equal chance of being selected.
Rank And File – The ordinary members of a group, such as enlisted troops in an army, or members of a union, who have no power.
Rat – Slang term for an informer, or to inform, typically for personal gain. Rat is also a verb, meaning to inform or betray.
Rat Race – The exhausting, competitive struggle and routine of working and living in a large town or city.
Rate Card – A printed list of charges and details regarding advertising costs on television, radio, websites, newspapers, etc.
Rate Of Return – The amount of profit or loss generated by an investment, expressed as a percentage of the total sum invested.
Ratify – To sanction formally. Validate an agreement with a vote or signature.
Rating Agency – A company which assesses and rates businesses on their credit-worthiness and/or their ability to repay debts.
Ratings Point – The measure of a size of an audience, i.e., one point equals one per cent of all households watching a television program or listening to a radio station at a particular time.
Ratio Analysis – A study of a company’s financial statements which show the relationships between items listed on a balance sheet and gives an indication as to whether the company can meet its current obligations.
Reactive Marketing – Describes when companies or businesses wait for customers to contact them in order to buy their products or services.
Ready-To-Wear – Describes clothing that is produced in standard sizes and designs and sold as finished products in retail outlets.
Real Estate – Also called Realty. Property consisting of land with permanent structures on it, such as buildings, walls, fences, etc.
Real Time – In computing, systems which receive information and update it at the same time.
Ream – 500 sheets of paper. A large quantity of written material.
Rebadge – To change the name , brand or logo of an existing product or business, especially cars.
Rebrand – Change the name, packaging, etc., of an existing product or business and advertise it as new and improved.
Recall – To ask customers to return a product which they have bought because it has been found to be faulty or dangerous.
Recapitalise – To put more money into a business, often one which is facing bankruptcy. To reorganise a company’s capital structure by exchanging preferred stock for bonds, usually to reduce taxes.
Receivables – Shown as assets on a balance sheet, money which is owed to a company by customers who have purchased goods or services on credit.
Receiver – An independent person appointed by a court to manage and control the finances, property, etc., of a bankrupt company, who usually sells the company’s assets in order to pay the creditors.
Recession – The decline of a country’s economy over a period of time, resulting in unemployment, less productivity, less trade, etc.
Reciprocal – Loosley meaning ‘in return’, based on the stricter mathematical sense of the word, found in financial and scientific theories, where reciprocal refers to the number or fraction which when multiplied by a specified other number or fraction will produce the number one. For example a half is the reciprocal of the number two; and a fifth is the reciprocal of the number five. The word derives from Latin ‘re’ (back) and ‘pro’ (forward).
Reciprocal Trade/Trading – Exchange of product or services. A simple example might be an accountant providing book-keeping services to a telemarketing company which in return performs telemarketing services on behalf of the accountant.
Reciprocity – Based on the notion of mutuality or return in the term ‘reciprocal’, reciprocity means give-and-take, such as to achieve a mutually agreeable balance.
Recognition Test – Also known as Readership Test. A test carried out after people have read a newspaper, magazine, etc., to see if they have remembered or read a particular advertisement.
Record Date – A date set by a company by which an investor must be recorded as owning shares in order to qualify to receive dividends and be able to vote at a shareholders meeting.
Recorded Delivery – A postal system for which an extra fee is charged in addition to postage. The sender is given a receipt at the time of posting and the recipient signs a form to confirm delivery.
Recruit – To seek employees for a business or organisation. To enlist military personnel.
Red Bag – A UK legal profession tradition in which a red fabric bag, to contain a barister’s robes, is presented to a junior lawyer by a Queen’s Counsel (QC) for recognition of good work in an important case.
Red Ink – Term used when referring to a company’s financial loss.
Red-Circling – The practice of protecting the salary of employees whose jobs have been downgraded because of the restructuring, etc., of the company.
Redundancy – A situation in which an employer intends to cease business, so therefore the workforce lose their jobs, or an employee is made redundant because their job no longer exists in the company they work for. Employees in these situations often qualify for redundancy pay.
Refer To Drawer – In the UK, a phrase used by banks when someone’s account does not have sufficient funds to clear a cheque which they have written, or the cheque has been written incorrectly.
Reference – A letter/statement written about a person by someone who knows them, detailing their abilities, character, qualifications, etc., which is sent to a prospective employer.
Registered Capital – Also called Authorised Capital. The maximum value of shares which a company can legally issue.
Registered Company – In the US, a company which has filed an SEC (Securities and Exchange Commission) registration, and may issue new shares. In the UK, a company which is listed on the Companies Register as a limited private company, a public limited company, or an unlimited company.
Registered Trademark – A distinctive symbol, name, etc., on a product or company, which is registered and protected by law so it cannot legally be used by anyone else.
Registrar – A person in a company or organisation who is in charge of official records.
Registration Statement – In the US, a legal document containing details about a company’s activities, financial status, etc., which must be submitted to the SEC (Securities and Exchange Commission) before the company can issue shares.
Reinsurance – The practice of sharing insurance risk among several insurance companies, in case of major disasters such as floods, hurricanes, etc.
Remunerate – To pay a person for services rendered, goods, losses incurred, etc.
Renewal Notice – An advanced notice of payment required to renew insurance cover, subscription, etc., by a certain date.
Rental Fleet – Cars, vans, etc., which a business leases from a vehicle leasing company for its workers to use, usually sales teams, executives, service engineers, etc.
Reporting Line – In a business or organisation, employees, managers, etc., who report to the next person higher up, usually their boss.
Repossess – To take back property, goods, etc., usually from an individual or organisation who has failed to repay a loan or has defaulted on a repayment plan.
Repudiate – Refusal to perform a contractual duty or repay a debt.
Requisition – An official written request or demand for something.
Rescind – To make void or cancel, for example a law or contract.
Research – The gathering of information, facts, data, etc., about a particular subject.
Reserve Currency – A foreign currency which is permanently held by a country’s central bank, and is used for international transactions.
Reserve Price – The lowest fixed price at which a seller will sell an item at auction. If the bidding does not reach the reserve price then the item is not sold unless the highest bidder comes to an arrangement with the seller.
Residual Income – Part of a person’s income which is left over after taxes and living expenses, for example mortgage, bills, etc., have been deducted.
Residual Value – Also Called Salvage Value. The market value of an asset which is no longer in use or has reached the end of its useful life.
Resource Allocation – The process of assigning available finances, materials, labour, etc., to a project.
Restitution – Money paid by an offender in compensation for loss, damages or injury. To give something back to its rightful owner.
Restrictive Practice – A trading agreement between businesses or industries which prevents free competition. The practice of workers, often trade unions, of protecting their jobs in a manner which limits the freedom of other workers.
Resume – A written summary of a person’s education, employment record, qualifications, etc., which is often submitted with a job application.
Retail Banking – Also called Consumer Banking. Banking services provided directly to the public, such as savings accounts, credit/debit cards, mortgages, etc.
Retail Investor – Also called Small Investor. An individual who buys and sells shares, etc., for themselves, usually in small quantities.
Retail Park – Usually situated on the outskirts of a large town, a large retail development consisting of shops, stores, car parking, and often cinemas and restaurants.
Retail Price Index – RPI. An inflation indicator, usually calculated on a monthly basis, reflected in the retail price of everyday goods, such as food, fuel, fares, etc.
Retail Therapy – Shopping which is done for enjoyment and to relieve stress.
Retailer – A business or individual who sells products or services directly to the customer.
Retained Earnings – profits retained by the enterprise rather than disbursing to the shareholders. Retained earnings are used to improve the value of the enterprise through development and /or promotional programs.
Retained Earnings – The earnings of a business or company which is used for reinvestment, rather than being distributed to shareholders as dividends.
Retained Profits – A business profit, after tax and dividend payments to shareholders, which is retained by the business and often used for reinvestment.
Retainer – A fee paid in advance to someone, such as a lawyer, to engage their services as and when they are required.
Retrench – To cut down on spending, economise, for example to reduce a workforce.
Return On Assets – ROA. Net income divided by total cost or value of assets. The more expensive a company’s assets, the less profit the assets will generate.
Return On Capital Employed – ROCE. A company’s financial indicator which compares earnings with the company’s capital investments.
Return On Investment – ROI. Also known as Rate Of Return. The percentage of profit earned by an investment in a business, etc.
Revenue Stamp – A stamp or sticker which is put on an item, for example a packet of cigarettes, as proof that a government tax has been paid.
Reverse Auction – A type of auction in which there are several sellers and only one buyer. The buyer usually purchases the goods or service from the seller who offers the lowest price.
Reverse Billing – A payment method used for messaging on mobile phones in which the recipient pays for the text message.
Reverse Merger – When a private company acquires the majority of a public company’s shares, therefore enabling the private company to get a public listing on the stock exchange.
Revolving Credit – A type of credit agreement, e.g., a credit card, in which a person is given a specified credit limit which can be paid in full or in part, usually on a monthly basis. If the amount owing is paid in full in the first month then usually no interest is charged. When the full credit limit has been reached a payment must be made before the credit card can be used again.
Rider – An attachment which makes amendments or provisions to an original contract or official document. In the entertainment industry, a rider is a list of demands made by a performer, usually before a show, sometimes including particular foods and drinks, hotels and transport, free tickets for friends and family, etc.
Rights Issue – The issuing of new shares which are offered to a company’s existing shareholders at a fixed price, usually lower than the market price.
Risk – In business, especially insurance, the amount of money a company stands to lose, or the threat of an action or event which will have an adverse effect on a business.
Roaming – A service which enables a person to connect to the Internet, or use their mobile phone, while they are travelling.
Rogue Trader – A stockbroker who makes unauthorised, usually high risk, trades on behalf of their employer, often resulting in huge losses.
ROI – (Return on Investment) Net Profit divided by Net Worth. A financial ratio indicating the degree of profitability.
Rolling Contract – A contract which runs for a specific period of time and continues to be renewed for further periods, subject to review.
Roll-On Roll-Off – Ro-Ro. In the UK, describes ferries which vehicles can be driven onto at one end and driven off at the other end on reaching their destination.
Round Lot – Also called Normal Trading Unit. A block of shares, usually 100, which is traded on the Stock Market.
Route 128 – Also known as Yankee Division Highway. A highway encircling Boston , Massachusetts, which is associated with the technology industry.
Royalty – A fee paid for the use of another person’s property, for example a copyrighted work, a patent, a franchise, etc. A payment made to a writer, composer or singer when a book, CD or performance of their work is sold. A share of the profit paid to the owner of the land which an oil or mining company is leasing.
RSI – Repetitive Strain/Stress Injury. Damage caused to hands, arms and neck due to continual computer use, or by repetitive movements while performing a task.
Rubber Cheque – A cheque which bounces, due to insufficient funds in the account of the person who wrote the cheque for it to be cleared by the bank.
Run Of Network – RON. Describes when an advertisement is placed on any page on one or more websites and the advertisers have no say where their advert is placed, usually because the advertising rates are cheaper.
Running Cost – The day to day running costs of a business, for example wages, rent, utilities, etc.
Rush Hour – The peak periods at the beginning and end of the day, usually longer than an hour, when people are travelling to and from work.
Russell 2000 Index – Published by the Russell Company, an index which tracks the performance of 2000 smaller companies in the US.
Rust Belt – Also called The Manufacturing Belt. In the US, an area which contains many old, unmodernised factories, such as steel works, many of which are now closed or not very profitable.
R-Value/U-Value – Refers to insulation effectiveness in buildings, and to materials used in construction. Either term may be used. U-Value is the reciprocal of R-Value. The higher the R-Value the better the insulation. The lower the U-Value, the better the insulation.
Sabbatical – A period of leave which is granted to an employee, sometimes up to a year, in order for them to study, travel, rest, etc.
Sabotage – To deliberately destroy or damage property, tools, or machinery in order to hinder production. To cause an obstruction to something in order to make it unsuccessful.
Safety Stock – Also called Buffer Stock. Extra stock kept by a company or business in case of extra demand or late deliveries of new stock.
Salami Slicing – The process of carrying out small actions or removing something in very small amounts so that it goes unnoticed, i.e., stealing money.
Salary – An employees wages which are paid on a regular basis for performing their job.
Sale And Leaseback – An arrangement in which property, machinery, etc., is sold to a business or individual, who then immediately leases it back to the seller.
Sale Or Return – An agreement in which unsold goods can be returned to the supplier without the goods having to be paid for.
Sales And Marketing – The business of promoting and selling a company’s products or services. The department of a business which carries our these activities.
Sales Conference – A meeting at which members of a company’s sales team(s) are brought together to discuss or review ways of marketing the company’s products or services.
Sales Ledger – Also known as Accounts Receivable. A company’s record of transactions for goods and/or services which have been provided to a customer, and for which money is still owed.
Sales Pitch – A salespersons attempts to persuade a potential customer to buy something, often using demonstration and argument.
Sales Resistance – The refusal of a potential customer to buy a product or service, often as a result of aggressive selling practices.
Sales Tax – Known as VAT (Value Added Tax) in the UK. A tax based on the cost of a product or service which must be paid by the buyer. This tax does not apply to all goods or services.
Salvage Value – Also known as Residual Value. The estimated value of an asset, for example a piece of machinery, which is to be scrapped or removed.
Sandbagging – In a court of law, the practice by a lawyer of not mentioning a possible error which has occurred during a trial in the hope that it goes unnoticed and the lawyer can then use it as a basis for appeal.
Sandwich Course – In the UK, an educational course, sometimes lasting three or four years, which involves alternate periods of study, e.g. at university, and periods of work experience in business or industry.
Scab – A derogatory term for an employee who refuses to join a trade union, or who continues to work during a strike at their workplace. Also describes someone who accepts work or replaces a union worker during a strike.
Scam – Means of making money by deceit or fraud.
Scarcity Value – A situation where the more scarce an item is, the more its worth.
Schadenfreude – German word derived from Schaden (damage, harm) and Freude (joy). Malicious pleasure derived from the misfortune and suffering of others. Typically felt by individuals with low self-esteem.
Scheme Of Arrangement – In the UK, a legal agreement between a company and its shareholders and/or creditors in which the company will pay what debts it can as an alternative to bankruptcy.
Schism – A split or division in a group into opposing factions, caused by differences of opinion.
Scorched-Earth Policy – A situation in which a company tries to prevent a hostile take-over by selling off its most valuable assets, thereby making the company unattractive to a potential buyer. Derives from a military strategy of ‘leaving nothing for the enemy’ by burning crops, buildings, etc.
Screening Interview – A brief, first interview, sometimes over the phone, with a company looking for potential job applicants. This process weeds out unsuitable applicants, and successful ones go on to the next stage of interviews.
Scrip – A certificate which entitles someone to a parcel of shares. An issue of additional shares given to existing shareholders instead of dividends.
Sealed Bid – A bid to buy an item, or a cost estimate for a contract, which is kept secret in a sealed envelope until all the bids have been received and are opened together.
Second Generation – Term which describes an improved product, service, etc.
Secondary Action – A sympathy strike. Action which is taken by workers in one industry in support of striking workers in a separate but related industry.
Secondary Boycott – An organised protest to prevent or persuade a company from doing business with another company which is involved in a dispute.
Secondary Market – On the Stock Exchange, the purchasing of shares from another investor rather than from the issuing company.
Secondary Research – Also called Desk Research. The collating and analysis of existing data which has already been collected for another purpose often by an outside source.
Secretary – A person who works for another person , usually in an office, dealing with correspondence, filing, phone calls and other clerical duties.
Securities And Exchange Commission – SEC. In the US, a government agency which is responsible for protecting investors against fraudulent and dishonest practices in the securities market.
Securities And Futures Authority – SFA. Now part of the Financial Services Authority. In the UK, an organisation which regulates the trading in stocks and shares, bonds, etc., and protects investors against dishonest practices.
Security Deposit – A sum a buyer pays, which is not usually refundable, to protect the seller if the buyer does not complete a transaction or if a rented item gets damaged.
Seedcorn – Money or assets set aside by a business in order to generate more profit or benefit in the future.
Seigniorage – Profit made by a government from printing and minting banknotes and coins. The profit being the difference between the cost of issuing the money and the face value of the money.
Selective Attention – Term which applies to consumers who only notice, or are aware of, certain pieces of information in advertisements, etc., because that is the only part in which the consumer is interested.
Self-Actualization – Term introduced by Kurt Goldstein in 1934, describing the need to realise one’s full potential, being a basic life force, and later re-interpreted and popularised by Abraham Maslow as the highest order of needs in his Hierarchy of Needs theory.
Self-Employed – A person who earns their income by operating their own business, rather than working for an employer and receiving a salary.
Self-Service Retail Sales Method - selling from a sales outlet directly to the end user, usually at prices lower than full retail price. There are usually no sales personnel to explain the purpose and value of the product or service.
Self-Supporting – Financially independent. Being able to operate without the help of others.
Sell Limit Order – An order to a stock broker to sell a specific number of shares at or above a specified price.
Seller’s Market – A situation in which there are more buyers than sellers, often resulting in high prices.
Selling Cost – Costs which are incurred for the advertising and distribution of a product.
Seminar – A business meeting for training purposes or for discussing ideas.
Semi-Skilled – Having or requiring some skills or special training to perform a job, such as operating machinery.
Semi-Structured Interview – An informal method of research in which set questions are asked which allow other questions to be brought up as a result of the interviewees response.
Sensitivity Analysis – Looks at the effects of the performance of a system, project, etc., by changing the variables, such as costs, sales, production, etc.
Sequential Sampling – A sampling method in which an unfixed number of samples are tested and enough data is collected before a decision can be made.
Sequester - Keeping a jury in isolation, under close supervision and away from the public and media, during a trial.
Sequestrate – To legally confiscate someone’s property until a debt has been paid.
Serial Bonds – Also called Instalment Bonds. Bonds which are issued on the same date but mature over a period of time, usually at regular intervals, so the issuer can spread the repayment to the investor.
Service Economy – Part of a country’s economy which provides services, such as banking, tourism, education, retail, etc., rather than manufacturing or production.
Service Goods – goods viewed by the consumer as competitive products offering a standard “service” and are basically similar, so they will “shop” to get the best price. This would include such products as lawnmowers, refrigerators, television sets, automobiles, etc.
Service Level Agreement – SLA. A contract, which can be legally binding, between a service supplier and a user, in which the terms of service are specified.
Service/Product Mix – this business, while involving both service and product, is distinct in that the quality of the service is often more important than the product received. Examples of this type of service would be: fast food, catering, telephone, etc.
SET – Secure Electronic Transfer. A safe and confidential way of paying for goods which have been purchased over the Internet.
Set-Aside Scheme – Introduced in 1988 in the UK to reduce the overproduction of arable crops. Farmers are paid to keep land fallow rather than use it to grow produce.
Settlement Date – Term used to describe the date by which shares, bonds, etc., must be paid for by the buyer, or a sold asset must be delivered by the seller.
Sex Discrimination Act – In Britain, legislation passed by Parliament in 1975, mainly related to employment in the workplace, which makes it unlawful to discriminate against an individual because of their gender.
Sexism – Discrimination and/or abusive behaviour towards member of the opposite sex.
Sexting – Sending sexually explicit messages and/or pictures by mobile phone.
Shadow – To be with someone in the workplace as they perform their job so that you can learn all about it.
Shadow Economy – Also called Black Economy. Business activities, including illegal activities, which are carried out without government approval or regulations.
Share – Any of the equal units into which a company’s capital stock is divided and sold to investors.
Share Buyback – Also known as Stock Repurchase. A situation in which a listed company buys back its own shares from shareholders.
Share Capital – Funds raised by a company from shares sold to investors.
Share Incentive Plan – SIP. A way for employees to invest in the company for which they work. The company gives the employees shares or offers shares for them to buy, enabling the employees to receive some of the company’s profit, i.e. in dividends.
Share Index – A list of certain companies share prices, which can be compared on a day to day basis, i.e. showing whether prices have risen or fallen.
Shareholder – Also called Stockholder. An individual, business or group who legally owns one or more share in a company.
Shareware – Copyrighted computer software which is available for a free trial, after which a fee is usually charged if the user requires continued use and support.
Shark – A dishonest business person who cheats and swindles others.
Shark Repellent – Measures taken by a company, such as creating different voting rights concerning shares, or requiring certain shareholders to waive rights to capital gains resulting in a takeover, etc., in an attempt to keep a hostile bid from succeeding.
Shark Watcher – An individual or company who monitors the stock market for another company and warns them of a potential takeover, e.g., if a lot of their shares are being bought by one person or one company.
Shelf Talker – Also known as Shelf Screamer. A sign hung on the edge of a shelf in a shop to attract peoples attention to a product.
Sheriff’s Sale – In the US, a forced sale of property ordered by a law court, the proceeds of which settle unpaid debts.
Shoestring – A very tight, barely adequate budget.
Shop Floor – Workers, usually in a factory, as opposed to managers. The area in a factory where production of goods takes place.
Shop Steward – A member of a Trade Union, usually in a factory, who is elected to represent other members in meetings with management and personnel officers.
Shopping Bot – Also called Price Engine. Computer software which searches the Internet and compares prices from retailers for specific products.
Short Covering – The purchase of the same number of shares, bonds, etc. which have been sold short.
Short Selling – The sale of shares, etc., which are not owned by the seller but borrowed from a broker, on the understanding that they must be bought back, hopefully at a lower than what they were sold for in order to make a profit, and returned to the broker.
Short-change – Give too little change in a cash transaction, and metaphorically meaning to treat someone unfairly or dishonestly, deprive someone of something, or cheat, usually from a position of control or dominance.
Shoulder Season – In the travel industry, the time between high and low season.
Shovelware – A derogatory term for content which is put directly on to a web page, e.g. from a magazine, etc., without changing its appearance to make it suitable for the Internet. Also refers to pre-installed programs on some computers, which have little value to the user.
Sic – Latin for ‘thus; in such a manner’, used when quoting a passage to show that the original spelling or grammar, typically incorrect, has been retained.
Sick Building Syndrome – SBS. Ailments, such as headaches, fatigue, nose and throat irritations, etc., experienced by workers or residents in certain buildings, often believed to be caused by poor ventilation, air conditioning, heating, cleaning chemicals, or the materials from which the building has been made.
Sickout – A type of organised strike in which the employees refuse to work by staying away from the workplace and claiming they are ill.
SIG – Special Interest Group. On the Internet, a place where people can discuss and exchange information about a particular subject. A group or organisation whose aim is to influence political decisions by trying to persuade government officials to act or vote in the group’s interest.
Sight Unseen – To buy something which has not been available for inspection before the purchase.
Signature Loan – Also called Unsecured Loan or Character Loan. A loan which is not backed by any security, and which only requires the borrowers signature.
Silver Bullet – A simple extremely effective solution to a very challenging and serious problem. A metaphor alluding to the mythical method of killing a werewolf or similar monster. See also Magic Bullet, which basically means the same.
Silver Surfer – An older person who uses the Internet.
Simple Interest – Interest which is calculated on the original amount of money deposited or borrowed, and not on any interest which may have accrued.
Sin Tax – A tax on certain goods or services which are considered bad for people, such as cigarettes, alcohol, etc.
Sinecure – A job or position which involves little or no work, but for a which a person is paid.
Single-Entry Bookkeeping – A simple system of recording a company’s finances in which transactions are recorded only once in one account.
Sinking Fund – Money set aside on a regular basis by a company, that is used for paying debts, taxes, etc., which are due at a later date.
Six Sigma – A business strategy, originally developed by Motorola, which strives for perfection in production and quality..
Six Thinking Hats – Group dynamics and decision-making concept devised by Dr Edward De Bono, from the book so named, based on De Bono’s theory of how people look at things/situations from different perspectives.
Skimming Pricing Strategy – if you desire quick cash and have minimal desires for significant market penetration and control, then you set your prices very high (this is sometimes called “skimming”).
SKU – Stock Keeping Unit. A unique number which identifies the price, size, manufacturer, etc., which is assigned to a product by a retail store.
Skunkworks – A production development program in a company which has the freedom to work outside the usual rules, without the restrictions of company procedures and policies.
Sleeper – Something, such as a film, book, share, etc., in which there is little interest but suddenly becomes a success.
Sleeping Partner – Also called Silent Partner. A person who has invested capital in a company but does not take an active part in managing or running it.
Slogan – A catch-phrase used in advertising which is easy to remember so it is associated with a product or company when people hear or see it.
Slush Fund – Also called Slush Money. Funds which are raised and set aside for dishonest or illegal purposes, e.g., for bribing government officials.
Small Claims Court – A UK court in which hearings are generally informal, without jury, for the judgment of civil claims for small amounts of money, and where parties commonly represent themselves instead of hiring a solicitor or lawyer, although legal assistance or representation is permitted.
Smoke And Mirrors – Term based on a magician’s illusions. To cover something up by drawing attention away from it.
Snail Mail – Mail which is delivered in the traditional way by postal service, rather than e-mail.
Sneakernet – Humorous term describing the transfer of electronic information, such as computer files, by physically taking the disk, cd, etc., from one computer to another.
Social Enterprise – A business chiefly having positive social and/or environmental aims, in which community and staff tend to feature strongly in priorities, and where profit is a means towards social, environmental or community purposes rather being an aim itself for the enrichment of owners or shareholders.
Social Networking – On the Internet, online communities which are built for people who share interests and activities, or to make and/or contact friends and family, e.g., Facebook, Twitter, etc. The practice of making business and/or social contacts through other people.
Socialism – A belief that a country’s wealth should be distributed equally among its population, and to varying extent also that its industries should be under government ownership and control.
Socio-Economic Grouping – The process if identifying and dividing people into groups according to their social, economic and/or educational status.
Soft Loan – Also known as Soft Financing. A loan which has attractive terms for the borrower, such as low or no interest rates and/or a long repayment period, often made by banks to developing countries.
Soft Sell – A subtle, persuasive way of selling a product or service, as opposed to Hard Selling.
Soldier Of Fortune – A mercenary. A person, sometimes ex-military, who is hired to work for another person or country. A freelance fighter.
Sole Proprietorship – an enterprise that is owned by a single individual.
Sole Trader – Also called Sole Proprietor. A business which is owned and managed by one person who is responsible for any debts which are incurred, keeping their own accounts, etc.
Solvency Margin – The money a business requires in the form of cash or saleable assets, which must exceed the amount needed to pay bills, debts, etc.
Solvent – Having enough funds to pay all your debts.
Sort Code – A number which is assigned to a branch of a bank, found on cheques, bank statements, etc., which enables that particular bank’s address to be identified.
Spam – Unsolicited e-mail which is sent to numerous recipients.
Special Commissioners – In the UK, special commissioners are present at appeals concerning disputes between the Inland Revenue and tax payers.
Special Resolution – In business, a resolution which must be passed by a high majority of a company’s shareholders, often 75%, as opposed to an ordinary resolution, which only requires more than 50% of the the vote.
Specialised – To be highly skilled in a particular branch of a profession, occupation, activity, etc. Developed or adapted for a particular job or task.
Specialty Goods – goods that appeal to a large segment of the buying public and are considered “special” enough that the consumer will specifically ask for the product. For instance, if you invented a cigarette that tasted good and was also proven to be good for your health, people would probably ask for the “healthy cigarette” (even if they didn’t know the name). The type of product is not the issue, but rather whether the product is “special” enough that the consumers will “seek it out.”
Specimen Signature – An example of a person’s signature required by a bank, etc., so that it can be compared with the same person’s signature on cheques and documents.
Speculate – To risk investment in property, shares, etc., in the hope of making a profit when selling them.
Spider Food – Key words or phrases which are placed, usually invisibly, on a web page in order to attract search engines.
Spiff – A commission paid by a manufacturer or supplier to encourage salespeople to sell their product rather than a competitors.
Sponsor – A company or individual who helps to support, usually financially, a team, an event, such as a sports meeting or concert, etc., in return for publicity or to advertise their own company or product.
Spot Check – A random inspection or examination, often with no warning, of a sample of goods or work performance to check for quality.
Square Mile – A term used for an area of London in which many financial institutions are based.
Stagflation – A situation in which there is a slow economic growth along with high inflation and high unemployment.
Stakeholder – A person or group, such as shareholders, customers, employees, suppliers, etc., with a vested interest in, and can affect the success of, a company or organisation, or successful completion of a project, e.g
Stamp Duty – Called Stamp Tax in the US. A stamp which must be put onto certain documents, contracts, etc., to show that he tax has been paid when property, land, etc., has been sold.
Standing Order – In the UK. an instruction given to a bank to debit a fixed amount of money from an account, usually every month on the same date, to pay a bill, mortgage, etc.
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