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businessballs - business and management terms Category: Management > business and management Date & country: 13/09/2014, USA Words: 1681

Thrift
In the US, a savings or loan association. The practice of not spending too much money or using up too many resources

Ticker Symbol
In the US, a set of characters, usually letters, used to identify a particular share on the Stock Exchange

Tied Agent
A sales agent or business who represents or sells and/or offers advice only on one company's products, such as insurance

Time and a Half
Rate of pay which is 50% more than the regular rate, usually for overtime work

Time and Motion Study
The study and analysis of a specific job within an organisation, the results of which are used to improve efficiency and production

Timeshare
A lease on a (usually holiday) property jointly owned by several people who have the right to use it during agreed times of the year, usually for one or two weeks. The industry is often associated with high-pressure or unethical selling methods

Title Deed
A legal document which proves a person's rights of ownership of property or land

Tokenism
The practice of doing the minimum required, especially by law, by making small token gestures, such as employing or including a single person who represents a minority or ethnic group

Toolbar
On a computer screen, a set of icons or symbols, usually under the menu bar, which allow you to perform different tasks on your computer, such as print documents, change font size, use a paintbrush , etc

Top Brass
The most important people in a company or organisation

Top Dog
The person who has the highest authority and is in charge of a whole operation, business, etc

Top Dollar
The very highest price paid for a product, service, worker, etc

Top-Heavy
Describes a company or business which has too many managers and/or administrators in comparison to the number of workers

Top-Level Domain
TLD. The last part of a domain address on the Internet, for example .com (commerce), .gov (government), etc

Tort
A wrongful act, other than a breach of contract, which is not criminal but harmful to another person, against which legal action for damages may be taken

Total Costs
In business, the costs of manufacturing, overheads, administration, etc. - i.e., the sum of fixed costs and variable costs. In investments, the price paid for a share, security, etc., plus brokerage fees, taxes, interest due to the seller, etc

Total Quality Management
TQM. A company management system which seeks to improve the quality of products and services and to improve customer satisfaction by giving everyone in the organisation the responsibility of achieving and keeping high standards

Touch Base
To make contact, usually managers who want to communicate with their staff

Trade
The buying and selling or exchange of goods and services. The buying and selling of shares on the Stock Market. A skilled occupation such as builder, carpenter, plumber, electrician, etc

Trade Agreement
An agreement, usually between countries, to limit or change their policies when trading with one another

Trade Descriptions Act
In the UK, a 1968 Act of Parliament which prevents misrepresentation of goods and services to customers by manufacturers, retailers or service providers

Trade Name/Trading Name
See also Business Name, which is loosely interchangeable. These are vague terms and care needs to be taken if deciding serious matters based on interpretation. Precise interpretation may depend local state/national company law definitions. Generally business names and trade/trading names may be registered and licensed. A lot depends on the interpretation of the term 'Business name' which could refer to a legal/parent/holding company, or merely to a branded product or division. A trade name could be a brand or a division or branded operation/service within/of a (legally titled) business. Avoid applying a strict definition to these terms, and if there are serious implications then seek expert local clarification, or a ruling from your legal department/advisor

Trade Secret
A secret device or formula used by a company in the manufacturing of a product which gives it an advantage over the competition

Trade War
A conflict between countries in which each country puts up trade barriers in order to restrict or damage the others trade

Trademark
TM. A symbol, logo, word or phrase which is used exclusively by a company, individual, etc., so their products or services can be easily identified, A Trademark cannot legally be used by anyone else

Trading Floor
An area of a Stock Exchange where dealers trade in stocks, shares, etc

Trailblazer
An innovator or pioneer. An individual or company who is the first to do or discover something, and leads where others follow

Tranche
Describes part of a loan, investment, etc., which is a portion of the whole amount

Transfer Deed
Also called Deed Of Transfer. A legal document which shows that the ownership of property, land, etc., has been changed from its legal owner to another party who now legally owns it

Transnational
Multinational. Refers to businesses, organisations, etc., which operate in or between several countries

Treasurer
A person in a company, organisation, club, etc., who is responsible for the management of funds and accounts

Treasury Bond
In the US, a long term security issued by the government which pays regular interest

Trial Offer
A temporary offer by a company usually aimed at first-time buyers in which a customer can try a product or service free or at discounted rates for a short period of time.

Troubleshoot
To identify and solve problems which arise in the workplace

Trust Fund
Property or funds which are legally held in control of a trustee on behalf of an individual or organisation

Trustafarian
An informal term for a wealthy young person, who gives the appearance of being unemployed and living a Bohemian lifestyle in less than comfortable circumstances, but who is living off a trust fund

Trustbuster
A government agent whose job is to break up monopolies or corporate trusts under the anti-trust laws

Trustee
An individual or organisation who is legally responsible for managing the financial affairs or another person or company

Truth In Lending Act
In the US, a law which protects consumers by requiring companies which offer loans, credit and charge cards, etc., to disclose full information regarding terms and interest rates

Turd Polishing
Australian equivalent of not being able to make a silk purse out of a pigs ear. An engineering term for fixing the defects in a product, process, system, etc., then repeating as new defects appear, rather than re-engineering it with fewer defects

Turntablist
A person who uses vinyl records, a turntable of a record player and a DJ mixer all together as an instrument to create sounds

Tycoon
A wealthy, prominent, successful business person, also referred to as a mogul, magnate, baron ,etc

Tyre Kicker
A person who appears to be interested in purchasing an item, especially a secondhand car, but has no intention of buying it.

Ultra Vires
Latin for 'Beyond The Powers'. Legal term which refers to actions or deeds, especially performed by a corporation, that exceed official powers

Unanimous
A complete agreement on a decision or opinion by everyone in a group

Unauthorised
Without official endorsement or permission

Unbundling
Dividing a company into separate companies, usually after a takeover, in order to sell some or all of the subsidiaries. Supplying a product, service or equipment in separate components

Uncalled Capital
The value of shares which have been issued by a company but which have not yet been paid for by the shareholders

Unconsolidated
Describes subsidiary companies whose financial statements, shares, etc., are not included in the parent company's finances

Uncontested
Without opposition or competition. A lawsuit which is not disputed by the person against whom it has been filed

Undercut
To sell a product, service, etc., cheaper than the competition

Undermanned
Describes a company, business, etc., which does not have enough workers to function properly. Understaffed

Undershoot
To fall short of reaching a goal or target

Undersubscribed
When a product, service, etc., is not being bought by enough people

Underwriter
A person who assesses the risk and eligibility of an insurance company's potential client. On the Stock Market, an organisation, such as a bank, that agrees to purchase any unsold shares which are offered for sale by a company

Undischarged Bankrupt
A person who has officially been declared bankrupt but has not yet been given permission to start another business, and must not stop paying debts which are still owed

Unearned Income
Personal income which has not come from employment but from investments, dividends, interest, etc

Unemployment
An economic situation in which jobless people, often those who have been made redundant from their jobs, are actively seeking employment

Unfair Dismissal
Term used when a person's employment is terminated by their employer without a good reason

Unfavourable Trade Balance
Describes when a country's value of its imports exceeds the value of its exports

Unhappy Camper
Someone who has complaints about their employers. An unsatisfied customer

Unilateral
Performed by one person, group, side, party, etc - basically 'going alone'. For example a unilateral decision is one made without dependence or condition upon others who might have interests in the matter in question. See Bilateral and Multilateral

Unilateral Contract
A one-sided agreement in which one party promises to do something (or refrain from doing something) in return for an action, not a promise, from a second party

Unique Visitor
Describes a person who visits a website, as one unit, even if they have made several visits to the same site in a particular period of time, usually 24 hours

Unit Trust
A fund which raises money from a number of investors, usually investing only a small amount each, which is then invested on their behalf by a fund manager in a range of shares, securities, bonds, etc

Unlimited Company
In the UK, a company whose owners have unlimited liability, e.g. if the company goes into liquidation the owners are required to raise the funds to pay the company's debts

Unlimited Liability
The obligation of a company's owners or partners to pay all the company's debts, even if personal assets have to be used

Unlisted
Refers to company whose shares are not traded on the Stock Exchange

Unofficial Strike
Also known as a Wildcat Strike. A form of industrial action which does not have the approval or permission of a trade union

Unregulated
Not governed or controlled by laws or rules

Unsolicited
Not requested or invited, for example junk mail

Unsystematic Risk
Also called Residual Risk. The risk that can affect a company's share prices, production, etc., such as a sudden strike by employees

Unzip
On a computer, to return files to their original size after they have been compressed

UPC
Universal Product Code. A bar code, using thick and thin vertical lines, which is printed on labels, packets, etc., to identify a specific product, and is used for stock control

Upload
To transfer data or programs from a smaller computer, camera, etc., or a computer at a remote location, to a larger computer system

Upselling
A sales technique in which the salesperson tries to persuade the customer to purchase more expensive and/or more goods than they originally intended

Uptick
Also called Plus Tick. On the Stock Market, a transaction or quote at a price above the preceding transaction for the same security

Uptime
The period of time which a computer, piece of machinery, etc., is operational and available for use

Upwardly Mobile
Describes someone who is moving towards a higher social and/or economic position.

Usance
In international trade, the period of time allowed, which varies between countries, for the payment of a bill of exchange

USB
Universal Serial Bus - A device on a computer which is used for connecting other devices, such as telephones, scanners, printers, etc. Bus is derived from busbar, a metal conductor strip within a switchboard

User Friendly
Easy to learn or use by people who are not experts

Username
In computing, refers to the name that uniquely identifies the person using a computer system or program and is usually used with a password

USP
Unique Selling Point/Proposition. The key feature of a product or service which makes it stand out from the competition

Utopia/Utopian
An imaginery society or world or situation which is ideal and everyone has everything they want, from the highly revered English statesman, scholar, lawyer and writer, Sir Thomas More's 1516 century book Utopia, whose full Latin title loosely translates to mean 'On the Best State of a Republic and on the New Island of Utopia'. The opposite term Dystopia, was devised two centuries later.

Vacancy Rate
The percentage of unoccupied rental space or units, e.g hotel rooms, compared to total available rental area at a given time

Valid
Legally or formally acceptable or binding. Unexpired, e.g. a passport

Value Engineering
In manufacturing, a method of producing a product at the lowest price but without sacrificing quality, safety, etc., and at the same time meeting the customers needs

Value Investor
An investor who buys shares, etc., which they believe to be underpriced, in order to make a profit by selling them when they price rises

Value Share
A share, etc., which is considered to be underpriced and is therefore a good investment prospect.

Value-Added Reseller
VAR. A company which purchases a product and modifies or enhances it before reselling it to the consumer. This practice is common in the computer industry

Valued Policy
An insurance policy in which the insurer agrees to pay a claim for a specified amount in the event of loss, damage, etc., for items insured, such as works of art

Vanity Publishing
The author pays the publisher

Vapourware
Term used to describe computer software which is advertised before it has been, and may never be, developed, often to damage sales of a competitor's product which has already been launched

Variable Cost
In business, costs which vary according to the changes in activity, production, etc. of the company, such as overheads, labour and material costs

VAT
Value Added Tax. A tax paid by consumers which is added to the price of certain goods and services

VDU
Visual/Video Display Unit. A computer screen or monitor which displays text and/or pictures

Vendee
A person or business who buys goods, property, etc.,

Venture Capital
Money invested in a new business which is expected to make a lot of profit but which also involves considerable risk

Verbal Judo
The use of voice tone and body language to diffuse a potentially aggressive or violent situation without being confrontational. Described as Tactical Communications, Verbal Judo was developed in 1983 by American literary professor, martial arts expert and later serving policeman, Dr George ('Doc Rhino') Thompson, initially for the US police. Verbal Judo has since become a more widely applicable training program for handling conflict for all sectors, alongside the popularity of Thompson's books, notably Verbal Judo (1993) and the Verbal Judo Institute.