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

Enterprise Application Integration
Software technology that links computer programs, data bases, etc., within an organisation, so that information can be shared

Entrenpreneur
An ambitious person who starts new business ventures in order to make a lot of money, often taking financial risks

Environmental Impact Assessment
The effect that a proposed project, such as a new building or development, will have on the environment

Environmentalist
An individual who is concerned about the protection, conservation and improvement of the natural environment

Eponym/eponymous
A person's name or another sort of name which is used as the name or title or brand for something such as a business or brand or book or other product or concept. The word 'eponymous' also describes any name which features in a concept/book/etc and is actually the name of the concept/book/etc. For example, a story written about a man called John, which is called 'John' or 'John's Adventures', or 'A Story of John', etc., could be described as 'eponymously titled', and the character John could be referred to as the 'eponymous character'. Many eponymous names have become very well-known and entered language to the extent that the origins of the word are not widely appreciated, or largely forgotten altogether. Many have become genericized tradenames. There are thousands of famous eponyms (eponymous names) in business and life in general. Here are a few varied examples, starting with some very big examples of words which have acquired genericized descriptive meanings far beyond their original eponyms:

Equal Pay Act
In Britain, a government Act of 1970 which gives women the right to earn the same money and to receive the same benefits as men for performing the same job

Equilibrium Price
The price at which the demand of a particular product or service is equal to the quantity supplied

Equity Accounting
When a company records, in its financial records, profits which can be claimed from an affiliated company which they part own

Escape Clause
A condition in a contract which allows the contract to be broken in particular circumstances

Ethernet
Technology, invented by The Xerox Corporation, which connects computers in a local area network (LAN)

Ethics Committee
In medicine, an independent body which is appointed to examine and consider the rights and safety of people taking part in clinical trials

Ethnic Monitoring
Recording and evaluating the racial origins of employees in a company to ensure that all races are represented fairly

Euphemism
the replacement of a strong/offensive word or phrase with an alternative word or phrase considered to be milder/inoffensive. Euphemisms are used widely and very wrongly by politicians and business people attempting to avoid responsibility and personal acknowledgment of mistakes, bad decisions and unjustifiable actions, etc. Euphemisms in such situations are part of 'spin', or spinning a story.

European Union
EU. Previously called the European Community. An international, economical and political organisation which brought the nations of Europe together so that people, goods, money, services, etc., can move freely between member nations

Ex Gratia
Something given or carried out as a favour or gift, rather than as a legal duty

Ex Officio
Someone who has a right to be included because of their job or position, e.g. to sit on a committee. (Latin - by virtue of office or position)

Ex Stock
Goods which are available for immediate delivery because the supplier has them in stock

Exchange Rate
Also known as Foreign Exchange Rate. The rate, which can vary from day to day, at which a country's currency can be exchanged for another country's currency

Exchange Rate Exposure
When a business risks losing money because of the need to change one currency for another of lower value

Execution Risk
The risk that a company's plans, or a project, will fail because of changes being made, e.g. entering a new market, bad management, etc

Executive Director
Also called Internal Director. A person who usually works as a full-time senior employee for a company, and is responsible for the day to day running of the business, and is often a member of the company's board of directors

Exit Strategy
Also called Harvest Strategy. A plan by an investor to dispose of an investment, such as shares in a company, to make a profit, or a business owner to dispose of their company, e.g., by selling the business, floating it on the stock market, ceasing to trade, handing it over to another family member, etc

Export Credit
A loan taken out by an importer with a bank in an exporters country, so that the importer can buy foreign goods and pay for them at a later date.

Exposition
A public event at which businesses, that produce related goods, can showcase their products and/or services

Extension Strategy
A marketing strategy to stop a product going into decline by making small changes to it, reaching new customers or finding new uses for it, e.g. a drink which was sold as an aid to those recovering from illness is now sold as a sports drink

External Competitiveness
Being able to sell goods and services to customers in foreign countries at a competitive price

External Debt
Also known as Foreign Debt. Money that is owed by the government, organisations or individuals to creditors in other countries

External Equity
A situation in which an organisation's employees receive similar pay for the same type of work as employees in other organisations, i.e., pay which is equal to market rates

Extranet
A private computer network to which a company's customers and suppliers can link and communicate using the Internet

Extrapolation
The estimation or determination of what will happen in the future by extending (extrapolating) known information or data. The verb usage 'extrapolate' is common and means using mathematics or other logical process to extend a proven trend or set of data. 'What if?..' scenarios and business modelling generally involves some sort of extrapolation. It's a way of predicting something by assuming a historical pattern will continue into the future.

Eyeballs
Advertising term. A name given to the number of people who visit a website advertisement, which can be counted by the number of click-throughs

Factory Price
The price charged for goods direct from the factory, not including transport costs, etc. Factory Price is often quoted by retailers or in advertisements to show that products are for sale at a very low price

Fairy Dust
A term often used in the entertainment business. The final enhancement or touch on a project. The unknown factor which turns something great into something fantastic

Fallen Angel
Term used in finance to describe bonds which once had a good investment value, but have now dropped in value to a much lower rating

False Accounting
A criminal offence. Giving false information in, or destroying, a company's accounts, usually for personal gain. Fraud

False Bottom
On the stock market, selling prices which seem to have already hit their lowest level because of a subsequent price rise then fall through a false bottom because the price falls even lower

Fast Moving Consumer Goods
(FMCG) Products (and the related industry) which are sold in big volumes by big retailers at low profit margins, at keen prices, to domestic consumers - traditionally foods and groceries, household consumables, etc., and nowadays extending to any products of short life and disposable/consumable nature. See FMCG in the acronyms section.)

Fat Cat
A wealthy person living off investments or dividends, or a chief executive of a large company or organisation who is on a very large salary, huge pension, etc

Fault Tolerance
Enables a system, especially in computing, to continue to operate properly even though a component in the system has failed

Feasibility Study
A preliminary assessment of a new project, including costs, risks, etc., to determine whether the project will be successful and practical

Feather-Bedding
A term often used in industry describing the practice of hiring more workers than is necessary to carry out a job, often because of a contract with a union

Federation
An organisation which has been formed by the joining together of a group of companies, clubs, etc

Fiat Currency/Fiat Money
A very bold term for monetary currency which is established and traded as a national currency, such as US Dollar, Sterling, Euro, etc. From Latin 'fiat', 'it shall be'

Fidelity Bond
Also known as Fidelity Insurance. Protects an employer against any losses incurred because of dishonesty, or damage caused, by an employee

Fiduciary
Describes an organisation or individual who manages money or property for a beneficiary

Figurehead
In business, organizations, politics, etc., a person who holds an important position or office but lacks real power or authority; a 'front man'. Derived from the carved painted figurehead models which traditionally were fixed to the front of sailing ships.

Filofax
A personal organiser (and the name of the company which makes it), which was very popular in the 1980s, with pages which can be easily removed or added. This product was associated with 'Yuppies'

Finance
To provide or obtain funds for a business, commercial project, an individual, etc. The management of money. To sell or provide goods on credit

Financial Engineering
The practice of solving financial problems or creating financial opportunities in a company, by changing the way money is borrowed, debts paid, etc

Financial Equity
The ownership of interest in a company, usually in the form of shares

Finite Capacity Scheduling
A process in which a computer program organises tasks, matching the resources available to the most efficient way of production

Firepower
The amount of power, money and/or influence that is available to a business or organisation

Firewall
A system in a computer which prevents unwanted or unauthorised access, but allows the authorised user to receive information

Firmware
Describes the fixed programs, which cannot be lost or changed, in electronic devices such as digital cameras, calculators, remote controls, etc

First Mover
A business that gains an advantage by being the first to establish itself in a specific market by producing a new product or offering a new service, or by being the first to use new technology

First Order Of Business
The most important task to be dealt with

Fiscal Drag
A situation in which wages rise because of inflation but income tax thresholds are not increased, which can push people into higher tax brackets and therefore makes them pay an increased proportion of their wages in tax

Fiscal Policy
A government policy to regulate a nation's annual economic activity by setting tax levels and determining government expenditure

Five Nines
Refers to the 99.999% of the time that some companies claim their computer systems work properly

Fixed Assets
Assets, such as property, equipment, furniture, vehicles, etc., which are owned by a company and which are needed to operate the business

Fixed Costs
Costs, or overheads , which are incurred by a business whether or not it is operating or generating income, such as wages, rent, insurance, utilities (for example electricity, gas, water), etc

Fixed Parity
In foreign exchange, when the currency of one country is equal in value to the currency of another country

Fixed Term Contract
Also known as Temporary Contract. A contract of employment which ends on a specific date, or on completion of a task or project. Fixed term employees have the rights to the same pay, conditions and benefits as full-time employees

Fixer
A person who makes arrangements for someone else, usually for a fee, by using their influence and often underhand, illegal methods

Flame
To send a rude or unacceptable message by e-mail, or to post a message on an Internet forum which is offensive or inciteful

Flats
In the entertainment industry, these are painted canvas sheets fixed onto wooden frames used on film sets, etc. for scenery

Flexecutive
A manager who works flexible hours, often from home using the Internet. A multi-skilled executive who can change tasks or jobs with ease

Flexitime
A work system in which employees work a set number of hours each week or month, but they decide when they are going to start and finish each day, usually between a range of given working hours

Flight Capital
The movement of large sums of money from one of investment to another, or from one country to another, to avoid high taxes or financial instability due to political unrest

Flighting
A cost effective method of advertising. A commercial is scheduled to appear on TV, usually when viewing figures are high (flight). There are periods in between the flights when the commercial does not appear on TV (hiatus). During the TV hiatus the product being advertised will often appear in newspapers or magazines, so the public is continually aware of it.

Floor Limit
In retailing, the highest amount of money for a sale for which a debit or credit card can be used by a customer without authorisation from the customer's bank

Floor Trader
Also known as a Local. An investor who is allowed on the trading floor of a stock exchange, to buy and sell shares, etc., for their own account

Flotation
The process of financing a company by selling shares on the stock exchange for the first time

Flyback
Also known as a Callback. A series of screening interviews for a job during which a person, usually a student, is interviewed several times, often on the same same day, by the prospective employer

Flynn Effect
Research showing that the results of IQ (Intelligence Quotient) tests in various countries (i.e. internationally) have risen consistently over several decades, (after political scientist James R Flynn)

FMCG
Fast Moving Consumer Goods (see Fast Moving Consumer Goods above and/or FMCG in the acronyms section)

Footer
In a report or document, a line or block of text that appears at the bottom of every page which is printed from a computer

Footfall
The extent or measure of numbers of people who visit a business or shop or other retail/leisure/entertainment venue during a given period of time. Footfall is a crucial factor in retailing methods, and also in promotion and advertising which focuses on the physical presence - on foot - of consumers at a particular location

Force Field Analysis
A technique developed by Kurt Lewin to support positive factors and decrease negative factors, as the result of a change in an organisation

Force Majeure
A clause in a contract which exempts the contracting party (e.g., insurer) from liability in the event of an unforeseen intervention or catastrophe which prevents fulfilment of contractual obligations, such as war, act of God, etc. The term force majeure is French, meaning loosely 'superior strength'

Forex
Also called FX, refers to Foreign Exchange, in which foreign currencies are bought and sold.

Forward Integration
A business strategy whereby a company takes control of its distributors, therefore guaranteeing the distribution of the controlling company's products

Forwarding company
Also called a 'freight forwarder', a company specialising in transfer of freight from businesses or individuals by finding an appropriate transporter of the goods

Four-Colour Process
In printing, the use of four ink colours - yellow, magenta, cyan and black - which are combined together to produce the whole spectrum of colours

Fractional Ownership
An arrangement where a number of people or companies each buy a percentage of an expensive asset, such as a property. The individual owners then share the asset, and when it is sold the profits are distributed back to the owners

Franchise/Franchising
An authorization or licence - effectively a business methodology, which can be bought - enabling someone (franchisee) to use the franchisor's company name and trademarks to sell their products services, etc., and usually to receive certain support, in a particular town, area of a country, or international region. A franchise for a whole country is typically called a master franchise, and typically may include rights to operate as a sub-franchisor responsible for developing and managing a franchise network. The term derives from the term franc, Old French for free, which was adopted into English corporate law in the late middle-ages to signify a grant of legal immunity, which in turn grew in legal application and technical meaning to become franchising, whereby a franchisor grants licence to a franchisee to make use of its business methods, products, brands, technologies, innovation, purchasing power, marketing, etc. Some extremely well-known large corporations have grown using the franchise model, for example, Mcdonald's, Subway, Avis, and Hilton Hotels. While franchising can theoretically be applied to any market sector, it typically entails reliable replication of high quality products/services, supported by clever/protected technology, patents, branding, together with proven training, marketing and business support. Most franchises emerge at the beginning of their respective product life-cycle, when innovation and novelty is significant, and barriers to market entry are challenging. As such, many entrepreneurs decide that franchising offers an appealing option compared to starting up a business completely independently from nothing. When innovation and novelty has declined in major established franchise organizations,...

Free Enterprise
An economic system in which private businesses have the freedom to compete with each other for profit, with minimal interference from the government

Free Market
A market in which prices of goods and services are affected by supply and demand, rather than government regulation

Free On Board
Maritime trade term. The supplier delivers the goods to a ship at a specified port. The supplier then pays the shipping costs after obtaining official clearance. Once they have been put on board, the buyer is then responsible for the goods

Free Port
A port where goods can be brought and stored temporarily, without custom duties having to be paid, before being shipped to another country

Free Rider
A person or organisation that enjoys benefits and services provided by others, and doesn't pay their fair share of the costs

Free Zone
An area in a country where importers can store foreign goods, prior to further transportation, without having to pay customs duties or taxes on them

Freeconomics
A situation in which companies provide certain goods and services for free, and those businesses who don't follow suit are likely to fail

Freedom Of Association
The right of individuals to join together to form, or join an existing, group or organisation, including a union

Freepost
A UK postal system, usually used in business, in which the recipient business pays the postage on mail, rather than the sender or customer

Freeware
Computer software that is copyrighted by the author and offered, usually on the Internet, free of charge

Frictional Unemployment
Unemployment of people who are temporarily between jobs, changing careers, changing location, etc

Fringe Benefit
A benefit given to employees in addition to their salary, such as a company car, pension scheme, paid holidays, etc

Front-End Load
A fee charged for an investment, for example an insurance policy, limited partnership, mutual fund, etc. The fee is made with the initial payment, and subsequent payments are therefore lower

Fulfillment/fulfilment
In the context of business and retailing, fulfilment refers to the processing of a (consumer or commercial) customer's purchase/order - i.e., a 'sale'. Fulfilment is generally considered to happen after the order is placed and usually payment is made, completing on confirmation of safe and correct delivery to the customer. Payment/invoicing is generally separate from the fulfilment process/provider. In most cases fulfilment entails the warehousing, stock management, product 'picking', order assembly/compiling, packaging and delivery, then confirmation of safe delivery, of products/orders for which payment has already been made. Fulfilment may be an internal activity of the selling organization, or may instead be contracted to an external provider of fulfilment services. Fulfilment has an entirely different meaning in the context of human emotional wellbeing, in which it refers to feelings/situations of personal happiness and life-balance, achievement and wellbeing itself, without stress, pressure or other negative effects