Business Terms: A-Words

Accumulation

• This is the process of increasing wealth or resources
• For example, a company's accumulated profits allowed for international expansion

Achievement

• Something accomplished through effort or skill
• An example is a company successfully launching a new product

Acquisition

• This is the act of gaining possession of something, often a company
• An example is when a corporation expands its market share by getting a smaller firm

Advertisement

• This is a notice promoting a product or service
• An advertisement campaign increases brand awareness

Analysis

• Examination of data to understand its meaning and significance
• Financial analysis identifies areas for cost-saving

Annual Report

• A report on a company's performance and activities over the past year
• It shows revenue increases and areas for improvement

Asset

• Something of value owned by a company, like property
• Intellectual property is a significant asset

Associate

• A partner or colleague, especially in business
• An associate works closely with senior managers on client projects

Audit

• An inspection of financial records ensuring accuracy
• Companies hire external auditors for theirs

Average

• The sum of two or more amounts divided by the number of amounts
• The average of 3 and 5 is 4

Balance Sheet

• A financial statement showing assets, liabilities, and equity
• A balance sheet shows financial position, with more assets than liabilities

Bankruptcy

• A legal status of inability to repay debts
• Companies file this for protection

Benchmarking

• A process of comparing a company's products to industry leaders
• Benchmarking helps identify areas for improvement

Board of Directors

• Elected individuals overseeing company management and representing shareholders
• The board is responsible for discussing long-term strategy

Branding

• Creating a distinct identity for a product or company
• Branding is used to differentiate a company from competitors

Break-even

• The point where total revenue equals total costs without profit or loss
• Business's aim to reach this point within their first year

Budget

• A financial plan detailing expected revenues and expenses over a period
• A marketing department has a budget proposal for the next financial year

Chamber of Commerce

• Mentioned as Kamer van Koophandel
• Registration with is a requirement to start a company

Code of Conduct

• Rules outlining expected behaviors within an organization
• Employees uphold ethical standards in the workplace by following them

Collaboration

• Working together to achieve a common goal
• Effective collaboration among team members is important

Commitment

• Dedication
• Relationships require dedication

Competition

• Rivalry between businesses for market share
• Forces companies to innovate and improve their products

Compliance

• Adherence to the rules and regulations
• New policies implement industry regulations

Contingency Plan

• A strategy to deal with possible future emergencies
• Helpful in case the main supplier fails to deliver on-time

Contract

• A legally binding agreement outlining terms and conditions
• It secures a steady source of raw materials

Conversion

• Changing from one form or use to another
• Improve marketing to change traffic into sales

Copyright Infringement

• Unauthorized use of copyrighted work
• Using images on a website without permission can result in copyright infringement

Corporate Governance

• System of rules directing and controlling a company
• Transparency and accountability are essential in large organizations

Corporation

• A legal entity owned by shareholders
• Corporations report profits for the quarter of the year

Debt

• Money owed to another party
• Companies can struggle to repay their debts

Debt Relief

• The partial or total cancellation of debt
• The government introduced this to help businesses during economic downturn

Depreciation or Amortization

• Gradual reduction in the value of an asset over time
• Accounted for as part of annual financial statements

Diversification

• Expanding business activities into new products and markets
• Helps reduce risk and enhance growth opportunities

Dividend

• Distribution of a portion of a company's profits to its shareholders as a return on their investment

Entrepreneur

• An individual who starts and manages a business, assuming financial risk
• The entrepreneur pitches innovative business ideas to potential investors

Equity

• Ownership interest in a company, represented by shares of stock
• Retaining equity allows companies to maintain control over decision-making

Ethics

• Moral principles guiding behavior and decision-making in business
• A code of ethics emphasizes honesty, integrity, and transparency

Executive

• Senior manager responsible for decision-making and strategy implementation
• The executive team discusses the company's long-term goals

Expansion

• Growth or enlargement of a business
• Expansion into emerging international markets takes place

Forecasting

• Predicting future trends based on historical data
• Essential for planning and risk management

Fringe Benefits

• Compensation in addition to pay, not in the form of money (perks)
• Some companies offer a car and health insurance

Globalization

• Increasing interconnectedness among countries
• Facilitates exchange of goods and services

Human Resources (HR)

• Department managing personnel, recruitment, and employee relations
• HR managers conduct interviews

Incentive

• Motivational reward designed to encourage desired behavior
• Cash bonuses are used to meet sales targets

Inflation

• Increase in price levels for goods and services, which results in decreased purchasing power
• Central banks implement measures to control it

Innovation

• Introduction of new ideas and processes that bring about positive change
• Research and development fosters competitive innovation

Interest

• The cost of borrowing money, or income earned on investments
• High interest rates can increase a company's financial burden

Inventory

• Stock of goods held by a business for production or sale
• It is important to conduct monthly inventory to track levels

Invoice

• A list of provided things or work done with their cost, for later payment
• Invoices must be submitted by the 27th of every month

Liability

• Legal obligation or debt that a company owes
• It is important for a company's assets to not have more liabilities to avoid indicating financial instability

Logistics

• The planning, coordination, and management of moving goods and resources
• This is essential for optimizing supply chain operations

Market

• Buyers or consumers of a product or service
• Companies use market research to identify and understand trends and consumer preferences

Market Share

• A company's proportion of total sales within a specific market
• Is gained by offering innovative products and superior customer service

Mentee

• A person being advised or trained by a more experienced mentor
• A mentee discusses workplace challenges with their mentor

Merger

• The combination of two companies to form a single entity
• These mergers can create dominant powers in the industry

Mission Statement

• Declaration of an organization's purpose, values, and goals
• It can emphasize a commitment to environmental sustainability

Negotiation

• Reaching an agreement through discussion and compromise
• It resulted in a new labor contract

Networking

• Building and maintaining relationships for mutual benefit
• The entrepreneur attends industry conferences to connect with investors

Opportunity

• Advantageous circumstances presenting possibilities for growth
• New markets can offer an exciting opportunity to increase revenue

Organogram

• A diagram showing the structure and relationships
• Employees are encouraged to look at the new organograms

Outsourcing

• Delegating tasks to external contractors
• Used to reduce costs

Parental Leave

• Time off work to care for a newborn or newly adopted child
• The person on leave plans to return to work the next month

Performance

• Achievement in carrying out tasks and duties
• Outstanding performance and dedication are appreciated

Performance Appraisal

• Evaluation of an employee's job performance
• It provides feedback on strengths and areas for improvement

Perseverance

• Continued effort to achieve something in the face of difficulties
• Used to help you overcome the struggles to complete a project, and meet deadlines

Personnel

• People employed in a company
• The director can make some changes when needed

Policy

• Principles directing an organization's actions
• These can ensure customers' data is kept private

Positioning Map

• A visual tool comparing products based on certain criteria
• Used to see where the company stands related to the competitors

Profit

• Financial gain from revenues exceeding expenses
• The company reported record profits for the fiscal year

Profit and Loss (P&L) Account

• A financial statement summarizing revenue, costs, and expenses
• The account revealed that the company's expenses were higher than expected, leading to a decrease in profit

Rapport

• A harmonious and trusting relationship between people
• Can lead to long-term partnerships

Recession

• A period of economic decline with reduced consumer spending
• Companies implement measures to get through this period

Recipient

• A person receiving something
• They are praised for outstanding success

Recognition

• Acknowledgment and appreciation of hard work
• Many employees receive this for their performance

Red Tape

• Bureaucracy that slows down decision-making
• The new project launch was delayed because of this

Remuneration

• Payment for work or services
• Employees demand adequate payment for their work

Resignation

• The act of telling the company you're leaving your job
• Often, you send this in writing

Responsibility

• Something that is your job or duty
• This often involves studying and working hard

Revenue/Turnover

• Income from sales before expenses
• Can increase if the company increases rates

Risk Management

• Identifying, assessing, and mitigating potential risks
• This helps the minimization of the impacts on an organization or workplace

Role Ambiguity

• Uncertainty about job expectations, leading to confusion
• Tasks and responsibilities might be not clearly defined, resulting in this

R&D (Research & Development)

• Improving the existing product and developing a new product
• Help them stay competitive

Segment

• Groups of customers with similar characteristics
• Many companies chose the specific market of product they wish to tailor to their consumers

Severance Payment

• The pay and other advantages that an employee receives when their employment is ended
• Some companies offer this to their employees

Shareholder/Stockholder

• Anyone that owns stock in a company, and therefore has ownership rights and entitlements to profits and dividends
• The company held a meeting, so they could vote on future changes

Sick Leave

• A short abscence from your work when you are feeling unwell
• The employee took a few days to recover

Staff Turnover

• The proportion of employees who leave a job over a set period
• It can be high when there is a strssful environment

Stakeholder

• Individuals or groups with concern for the actions and decisions of a business
• The company engaged with concerns so they could get feedback and addres their issues

Subsidiary

• A company owned by a larger company
• Instagram is a subsidiary of Meta

Supply and demand

• The relationship between the avaliablity of the products and desires for them
• Changes often influences markets and prices

Supply Chain

• The network used to make and produce the distribution of those goods and services
• The company optimises each chain, in an attempt to reduce costs and improve

Sustainability

• The practice of preserving the ability of future generations to meet their own needs
• The company had many practices, so they could reduce their environmental footprint

Synergy

• Coming together to make an affect that is greater than an individuals contribution
• The merger between two companies created combined strength and competitiveness

SWOT Analysis

• Assessing strengths, weaknesses, opportunites and any threats
• The company does a SWOT annalysis to determine global expansion

Talent Pool

• Potential candidates with the skills to match the required positions
• Companies will attend job-fairs and other activities

Trough

• The lowest point in business before slowly recovering
• The economy had recovered from its trough

Vacancy

• A spot or position that is open for filling
• Companies might be hiring, so be available to take on the role if required

VAT Number

• Unique number for sole proprieters and self-employed
• It helps define many companies

Venue

• location where a public meeting and event happens
• There are many hotels to chose from for meetings

Word-of-Mouth

• Information spread through informal communication, not advertising
• Word-of-mouth is impactful advertisement

Workforce

• The total number of employees
• A workforce is able to develop new skills and capabilites

Acknowledge

• To respect and admit the value
• The company was slow

Analyze

• Looking deeper into the matter
• Analysing market trends to help identify future opportunites

Announce

• A formal statement
• Announcing new product lines

Anticipate

• To predict, or assume before it happens
• To expect an increase and take action accordingly

Appeal

• Attracting people
• The newer marketing is to attract the younger demographic

Assess

• To evaluate or determine the quality
• The manager can find the performance of their employees

Borrow

• Taking something from someone temporarily
• Borrowing something lost and found later

Budget

• Putting funds into place
• The finance department plans for project expenses

Collaborate

• Working together to achieve a goal
• The two deparments work togehter to increase efficiency

Collapse

• The breakdown of the operations
• The company filed bankruptcy

Communicate

• Convey your message clearly
• Addressing the cilents concers to have better communiactions

Commute

• Taking time between travel
• Spending more time and reduced the commute time

Consult

• Looking for professional guidance
• Consulting for legal or financial adivce

Cook the Books

• Falsely making adjustments to look more financial stable
• Cooking for the CFO and fired afterwards

Coordinate

• To synchronise efforts through an organization
• The manager does everything smoothly to achieve execution

Decline

• Gradually decrease
• The party is dwindling

Decrease

• Becoming less and smaller
• The swelling had decreesd after a little time

Delegate

• Assigning duties for other workers
• Assigning the project to the team members

Determine

• Looking for calculating and research by digging deeper
• The finances had to determine the increase

Develop

• Creating something improved
• Developing something every quarter

Differentiate

• Find a reason to not select everything else
• Marketing products were made towards attracting customers

Disclose

• Sharing confidential information
• Sharing with the shareholders every qaurter

Dismantle

• Tearing away organizations
• Having a more efficient and quality team

Downsize

• To reduce workforce
• The companu will downsize their work

Dispose Of

• Getting rid of waste or unwanted material
• Companies dispose in the appropriate way

Enrich

• Improving and enhancing value
• The program is enriched to help prepare leadership roles

Estimate

• To guess, or calculate
• Taking a look at numbers from the government

Evaluate

• Judjeing assesments of value and quality
• Select the top proposals

Expand

• Making a bigger reach
• Expanding into a new operations

Exceed

• More than expectation
• Company Profits had a higher sale

Facilitate

• Smooth and easy process
• The new software has facilitative tools

Fluactuate

• Change between levels
• Vegetable prices go up depending

Give or Hand In Notice

• To inform someone you want to leave the company formally
• Deciding to leave and seek to start with a new company

Implement

• Putting a plan into effect
• The team has a new strategy

Improve

• Make something is better
• HR working towards improving statisfaction

Incur

• Experiencing soemthing very unpleasant
• Debts that unable to pay

Increase

• Bigger or larger
• 6 percent increase

Innovate

• New idea and develop a new product
• Encouraging employees to come together

Lend

• Temporarily use a item
• Lending you my dress

Launch

• Celebrate a new introduction
• Launching the iMAC at his conference

Level Of

• Stay at the rising or falling point
• Level of house prices

Loan

• Borrowing an item
• This loan is on exhibit

Managed

• Control and direct resouces and activities
• Managing sale teams and position

Manufacturer

• Produce in larger numbers
• Rapid decline

Modify

• New adjustments with less changes
• Changing the terms of contract

Monitor

• Observe and keep track
• The supervisor helps with their employee to perform

Negotiate

• Reaching an agreement by discussuion
• Contracts were needed for each beneficial party

Occur

• Something happened or took place
• Prices had declined after coming from higher ones

Omit

• Mistakenly leaving information out
• Expenses were not correct

Operate

• Make sure function and work
• The factory works with its full capacity

Optimize

• More efficent and effective
• To optimize user experience on website

Peak

• Something is at its highest value
• August is when prices start increasing

Plummet

• FAll rapidly and suddenly
• Housing prices will decrease

Prioritize

• Importance or urgency
• Priority will be to ensure the deadline is met

Persue

• Following for a helicopter
• Persuading them towards the deadline

Require

• A much needed necessity
• The new policy requires that they train

Resolve

• Difficulty towards the solution
• The HR department will try to resolve, through with mediation

Resource Allocation

• Making sure sources are avaliable for projects and departments
• Resources for maximize and reduce

Retain

• Holiding on the keeping for somehting
• The company can reatin top talent

Run

• Make it possible to operate
• It'll return by September

Sever

• To to break off
• Supplier failed the deal, due to more repetitive days

Soar

• To rise very quickly
• Temperatures will rise over the weekend

Streamline

• Improve easy process
• reducing the cost

Tap intp

• Resoources you can make of
• Taping into to target to increase brand

Yield

• Produce the product provide such is
• The lines have greater yield

Competitive

• Strive others for market share
• To maintain to compete the prices with the crowded

Consistent

• Always acting the same
• Customer service builds a loyal customerbase

Dedicated

• Taking a strong focus of effort
• The team helped finish the project on-time

Dispered

• Spead wide among
• workforce making communication

Fragmented

• Disconnected parts

Gross [Opp,net]

• All the of of total income and expesmes

Imminent

• Is approaching and soon to happen

Imperative

• To be A essential

Imposed

• Enforced from power

Mature

• Stage where full complete

Preliminary

• To complete a event

Profitable

• Be of high income

Redundant

• No linger of usefull

The New

• New procedures to follow with quality

Tangible

• Machinery to be measured for prices

Highly

• Value with team memvers