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

Vertical Equity
A concept of economic fairness, for example people who are better off should contribute more taxes than those who are less well off

Vertical Integration
A situation in which a company acquires one or more of the companies which are involved in the production or distribution processes of its goods/services, for example a brewer which buys a pub chain, or a clothing retailer which buys a knitwear factory.

Veto
Latin for 'I Forbid'. To vote against. The right to block a law, etc

Vexatious Litigant
A person or party who regularly brings unsustainable lawsuits against another party in order to harass or annoy them

Viable
Capable of being done or working successfully

Vicarious Liability
Having legal responsibility for the actions of another, e.g. the liabilty of an organisation for the actions of its employees

Vigorish
A slang term, also abbreviated to vig, for the commission or fee charged by a bookmaker or casino on a wager. Also the interest on a loan from a loan shark or unregulated loan provider. The term is Yiddish (Jewish) deriving from the Russian word vyigrysh, meaning winnings

Viral Marketing
Also known as Word Of Mouth. An advertising and marketing technique which encourages people to pass on information about a product, etc., often by e-mail or from one Internet website to another

Virtual Memory
On a computer, a technique of simulating additional memory by moving data between the computers memory and a hard disk

Virtual Reality
An artificial three-dimentional (3-D) image or experience, created by a computer, and which seems real to the person looking at it

Virus
A computer program with a hidden code, designed to infect a computer without the owners knowledge, and which causes harm to the computer or destroys data, etc

Vocation
An occupation for which a person is strongly suited and/or to which they are dedicated

Vocational
Relating to an occupation for which a person has undergone special training or has special skills

Voice Recognition
Technology which allows computers, mobile phones, etc., to be operated by being spoken to

Voice-Over
A presenter or actor in a TV commercial or program who is heard but who is not seen on the screen

Void
A contract, agreement, document, etc., which is no longer valid or legal

Voluntary Bankruptcy
A situation in which a debtor voluntary files for bankruptcy because they cannot pay their creditors

Voluntary Liquidation
A situation where the owners/directors of a solvent company decide to cease business, sell the company's assets and pay all the creditors

Vote Of No Confidence
A vote which shows that the majority of those voting have lost confidence in something, usually a government

Voting Shares
Called Voting Stock in the US. A company share which gives the shareholder the right to vote on matters regarding company policy, etc.

Wage Drift
A situation when basic rates of pay are not as high as levels of wages actually paid. This is often because of increases in overtime, bonuses, profit share, etc

Wage Slave
Someone whose is totally dependent on the wages they earn

Waiver
A formal statement in which someone gives up a right or privilege

Walk Back The Cat
A metaphor for troubleshooting. When something goes wrong, the situation is analysed in chronological order to find out when the problem happened and why, and correct mistakes so they don't happen again. Like when a cat unravels a ball of string and you have to rewind the twisted yarn to find the flaw

Walking Papers
Also called Walking Ticket. A notification of dismissal from a job

Wall Street
A street in Lower Manhattan where the New York Stock Exchange and financial centre is situated

WAN
Wide Area Network. A communications network which covers a wide area of a region or country, connecting computers, phones, etc

WAP
Wireless Application Protocol. An open network communications system which enables information to be sent between hand-held devices such as mobile phones, pagers, etc

Warrant
A certificate which entitles the holder to buy a specific number of shares at a fixed price within a specified period of time. A legal document issued by a court of law authorising the police to make an arrest, search premises, etc

Watch List
A list of investments being monitored because they are showing signs of unusual activity, often because the companies who own the shares may be takeover targets

Watchdog
A person or organisation that monitors the practices of companies to ensure they are nor acting illegally

WATS
Wide Area Telecommunications Service. In the US and Canada, a long distance telephone service which provides discounted calls for companies that place large volumes of long distance telephone calls

Wayzgoose
A traditional August outing or party for printers, typically around St Bartholomwe's Day, 24th August, marking the end of summer, when work by candlelight began each year. The term persisted in the print industry in more general use referring to a company party, although its use is now rare since large-scale automation and workforce reduction

Webinar
Web-based seminar. A meeting, conference, etc., which is transmitted over the Internet, with each participant using their own computer to connect to the other participants

Webmaster
A person who is responsible for maintaining a website

Webzine
An electronic magazine which is published on the Internet

Weighbridge
Known as a Weigh Station in the US. A vehicle weighing system which consists of a metal plate set into a road which vehicles, usually trucks with loads, are driven onto to be weighed to check if they are overladen

Weighting
An allowance paid to workers who live in certain areas of the country, such as London, to compensate for higher living costs

Well-being/wellbeing/well being
Significant term and consideration concerning personal health and happiness in the workplace, with implications for performance, quality, organizational effectiveness and profitability. Well-being, and specifically the promotion and strategic improvement of personal well-being in the workplace, is a major extension of earlier principles and issues of stress and stress management. See workplace well-being

Wet Lease
An arrangement in which an airline leases an aircraft, complete with crew, insurance, etc., to another company, usually for a short period of time

What if?.. Scenarios/Modelling
'What If?..' Scenarios or Modelling is a form of planning. 'What If?..' is a vague and general term covering methods of predictive or creative forecasting, in which scenarios or hypothetical situations are developed, almost always by extending or extrapolating an existing or historical situation. 'What If?..' methods in planning and problem-solving commonly seek to identify and predict new events and factors which arise in addition to what may be easily assumed from basic extrapolation, and therefore entail quite a high degree of creative and imaginative input. 'What If?..' planning may be organized with computerised systems, or may be mapped in more basic pen-and-paper terms. Effective 'What If?..' methods will often involve brainstorming of one sort or another

Wheeling And Dealing
Making a profit, sometimes dishonestly, buy buying and selling things, or acting as a go-between for two parties

Whistleblower/Whistle-blower
A person who informs the public (usually via websites or news media) and/or relevant authorities (watchdogs, government, ombudsman, standards body, etc) about wrong-doings, failings, corruption, or other illegal activities within an organization. The wrong actions might be of a colleague, superior, workgroup, or any number of individuals working in the organization, or otherwise working with the organization. Often the wrong-doing is directly or indirectly a consequence of inadequate corporate governance. Typically, but not essentially, the whistleblower is or was employed by the organization concerned, or becomes quickly unemployed or at least suspended. Following a few high profile cases in the late 1900s when whistleblowers were wrongfully dismissed and persecuted and/or subject to legal action by their employers, laws were introduced (UK Public Interest Disclosure Act 1998) to increase protections and safeguards for whistleblowers. Similar safeguards have been enacted in different laws internationally, although legislation is often inconsistent; adherence among employers is patchy, and enforcement by governments is patchy too. Not all whistleblowing is rightly motivated - some can be vengeful, inaccurate, or otherwise unjustified, although the term 'whistleblowing' is generally considered to refer to justified reporting/publicizing of clearly seriously wrong and usually illegal organizational activities. Famous examples of whistleblowing cases include scandals in major industries such as banking, oil, mining, and media, involving some of the world's biggest corporations, as well as in government and state agencies.

White Collar Crime
An illegal act such as fraud, embezzlement, bribery, etc., committed by a worker in business or administrative function.

White Knight
A company, individual, etc., who offers favourable terms in a takeover, usually saving the acquired company from a hostile takeover

White Van Man
A derogatory term for drivers of white commercial vans, who have a reputation for driving recklessly and intimidating car drivers by driving about three inches from their rear bumper

Wholesale
The sale of goods in large quantities, usually to retailers who then sell them for a profit

Wholesale Bank
A bank which provides services to large organisations, financial institutions, etc., rather than individual customers

Wi-Fi
Wireless Fidelity. A wireless technology which enables computers, mobile phones, video games, etc., to be operated by using radio frequency

Widget
A small program which is run by certain computers. A small device, switch, gadget, etc., whose name is not known

Win-Win
Describes a situation or arrangement in which all parties benefit or profit

Wind Farm
A large area of land, which has strong winds, on which a group of wind turbines are placed in order to produce electricity by driving generators

Windfall
A sudden, unexpected sum of money or piece of good fortune received by someone

With Profits
Describes an insurance policy which pays the sum assured plus any bonuses which may have accumulated over the term of the policy

Without Prejudice
Written on a document in legal proceedings, negotiations, etc., meaning that any information contained in the document does not affect the legal rights of a party involved in a dispute

Without Recourse
A legal term written on a bill of exchange which signifies that the buyer accepts the risk of non-payment from a third party, rather than the seller

Work In Progress
Also called Work In Process. Work on a product, contract, etc., that a company has invested in but is not yet completed. A piece of music, art, etc., which is unfinished but may be available for viewing or listening

Work Permit
A legal document which gives a person a right to employment in certain foreign countries

Workaholic
A person who is addicted to work

Working Capital
Also known as Net Current Assets. The amount of funds which are available to a company for everyday running costs, such as wages, rent, etc

Working Time Directive
Rules set by the European Union which limits the maximum number of hours in a working week, the minimum amount of annual leave and the minimum amount of rest period in a working day to which an employee is entitled

World Economic Forum
WEF. Based in Geneva, Switzerland, an non-profit, international organisation which brings together politicians, business and education leaders from all over the world to discuss ways to improve economic and social growth, health and environment issues, etc

World Wide Web
WWW. Also known as The Web, a computer network system in which documents are inter-linked using hypertext computer code, and allows information to be accessed using the Internet

Wow Factor
The instant appeal of a product, property, etc., which impresses and surprises people the first time they see it

Wrap
The end of a film shoot when everything is finished, the set can be taken down and everyone can go

Writ
A written order issued by a court of law which orders someone to do, or not do, something

Writ Of Execution
A court order which ensures that a judgement is enforced.

Write-Off
In accounting, to reduce the book value of an asset, sometimes to zero, or cancel a debt which has not been, or is unlikely to be, paid

Write-Protect
In computing, protect the data on a disk or file from being accidentally deleted or edited

X-Inefficiency
When a company is not using its employees, machinery, resources, etc., effectively, often because of lack of competition.

Xenology
The scientific study and/or research of alien cultures and biology

Xerox Machine
A piece of equipment which makes paper copies of documents, etc

Yellow Sheets
Published every day in the US by the National Quotation Bureau, a list which shows information and prices of corporate bonds

Yeoman
A servant or attendant in a royal or noble household

Yield
The annual income earned from an investment, usually expressed as a percentage of the sum invested

Youth Court
A court of law, which members of the public are not allowed to attend, that deals with juvenile (under 18 years of age) offenders

Yuppie
Derives from Young Urban Professional. Term used since the 1980s to describe a young person who has a well-paid job and an affluent lifestyle.

Z-Score
Developed by Dr Edward Altman of New York University in the 1960s, a measurement of the financial health of a company which predicts the probability of the company going bankrupt.

Zero-Rated
Describes goods or services on which the buyer pays no value-added-tax

Zero-Sum Game
A situation in which what is lost by one person, company, etc., is matched by a gain by another/others. Used in economics and Game Theory to describe the relatively simple 'strictly competitive' situation whereby all the losses and gains balance each other to zero. Potential gains are finite; what is gained by one must be lost by another, and vice-versa

Zip
In computing, compressing data to make a file smaller in order for it to be stored or sent to another computer. Also, slang for nothing