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

Fulfilment House
A provider of order-processing fulfilment services to a 'selling' company, typically processing sales/orders of the selling company, through to the delivery of products to the purchaser. Specific activities of a fulfilment house generally include warehousing, stock control, order picking, packaging, distribution/delivery to the customer (and confirmation thereof), and typically a degree of direct customer communications, and potentially handling returns.

Fungible
Describes goods or commodities which can be exchanged for something of the same kind, of equal value and quality.

Gagging Clause
An informal term which has become generally used in formal business/employment language, a 'gagging clause' is a clause in an employment contract, or more commonly a termination contract, which prevents an employee from disclosing certain information about the company or employing organization (typically extending to related organizations/interests) to the press, union officers, authorities, etc., and by implication also extending to the police. Often an employer agrees or enforces a payment with/upon the employee to secure the signature to the gagging clause or contract which contains it. While the contract may in some instances be mutually fair and agreeable, often the mechanism is used unjustly and forcibly by employers against departing 'whistleblowers' because the organization fears exposure of faults, problems, liabilities, and potentially criminal behaviour/behavior, etc. A 'gagging clause' is commonly instead and euphemistically called a 'compromise agreement' by employers keen to obscure their operational failings and the shame of using such an instrument

Gagging Order
A legal order issued by a court to prevent the public reporting of a court case

Gainsharing
Also called profit sharing. An incentive system which enables employees to have a share in a company's profits.

Gantt Chart
Developed by Henry Gantt in 1917. A type of bar chart which illustrates the scheduled and completed work of a project. It shows start and finish dates, compares work planned to work done and tracks specific tasks

Gap Analysis
Enables a company to assess the gap between its actual performance and its potential performance, by comparing what skills, products, etc. are available to what is required to improve performance, output, etc

Garden Leave
Also called Gardening Leave. Term used when an employee's contract has been terminated but they are instructed by the company to stay away from work, on full pay, during their notice period. Often to prevent them from working for competitors during that time

Garnish
To take part of someone's wages, by law, to pay their debts, e.g. child support, alimony

Gatekeeper
A person in an organisation who controls access to the people in the organisation, and/or controls access to information or goods, or even a market. Microsoft could be described as a gatekeeper to the computer industry. Google could be described as a gatekeeper to the internet industry

Gazelle
A US term for a fast growing company that creates a lot of job opportunities, and which has grown by at least 20% in the last four years

Gazump
In selling and buying property, a term used to describe when a purchaser has an offer accepted by the vendor but is then gazumped because someone else makes the vendor a higher offer which the vendor then accepts instead of the first person's offer

GDP
Acronym for Gross Domestic Product, a significant measure of economic performance. Gross Domestic Product (GDP) is the market value of national final goods/services. GDP per capita (per head) is generally considered an indicator of national standard of living

Geek Speak
Technical language often used by computer experts which doesn't make sense to non-technical people

General Creditor
A person or company that lends unsecured money, so that the creditor is unlikely to recover much of the loan if the debtor goes bankrupt or does not pay it back

Generalist
A person who has a broad general knowledge at a high level, and/or many skills.

Genericized Trademark/Brand
A trademark or brand which has become a generally used word in common language in referring to all versions/makes/types of the product class, for example Hoover, Sellotape, Durex, etc. Corporations whose trademarks develop in this way try to reduce the commercial threat (to the protectable status and asset value of the brandname as intellectual property) typically by legal action against anyone exploiting or misusing the name, especially competitors. Where a court decides that the name has been substantially genericized for many years, or its protections in adequate or undermined, then these legal actions and effective trademark registration/protection may be lost. In terms of language used by the general public, resistance/action by the name owner is basically hopeless, given that the cause is societal/cultural/language-change on a vast scale. Below is a list of famous genericized trademarks; some are no longer registered/protected, and protections may vary in different parts of the world. The registration/protection status is interesting for publishing/reference reasons because technically registered trademarks should be shown with the TM or R symbol. Quite separately the effect of genericized trademarks demonstrates the power of big brands to enter public consciousness at a generic and fundamental level of language and culture. Some people argue that a genericized trademark is by definition one that has lost its official protected 'trademark' status. The counter-argument is that in such circumstances the term 'genericized trademark' is contradictory, as it would no longer be a trademark. Whatever, here is a list of trademarks (which may be current, expired, or legally overturned) that can reasonably be considered gene...

Get All Your Ducks In A Row
A term for getting organised, having everything in order and making sure all the small details are accounted for before embarking on a new project

Get Go
From the start, the earliest stage of something. Used in the phrase 'From the get go.'

Giro
A system, used in some countries, of transferring money from one bank or post office account into another using a central computer

Giveback
An agreement in which employees accept a wage reduction or fewer benefits as a gesture of goodwill, usually because of an economic downturn. The employees are often offered wage rises and new benefits at a later date

Glamour Stock
A company's shares, which are very popular with investors, because they have performed well on the stock exchange

Glamping
A portmanteau word meaning 'glamorous camping', for example staying in a posh serviced yurt (a large Mongolian-style nomadic tent) and eating luxury hamper foods

Glass Ceiling
An invisible barrier in the workplace which prevents women and minority groups from advancing to positions of leadership in a company, although some do manage to 'break through' the glass ceiling

Glass Wall
An imaginary barrier in the workplace which prevents women and minority groups from being employed in other sectors of business or industry

Glitterati
Combination of Glitter and Literati. Glamorous, rich, famous people, often connected to show business

Global Village
A term used to describe the whole world as a single community, connected by electronic communication systems, such as the Internet

Globalisation
The process of integrating nations, economically and socially, through free trade, international business activities, technology (for example the Internet), etc

Glocalisation
Global Localisation. A term used when an international company adapts its manufacturing methods, products or services to suit local conditions.

Gold Reserve
The amount of gold bullion or gold coins held by a country's central bank to support its currency and provide security for its international debts

Golden Formula
In the UK, a term used to describe industrial action, or strikes, which are legal, i.e., about matters connected to working conditions and employment, rather than political matters, and that workers striking for legal reasons should not lose their jobs

Golden Handcuffs
Financial incentives or benefits given to a valued employee to ensure that they continue working for a company, and to discourage them from wanting to leave to work for another company

Golden Handshake
Usually offered to high-ranking executives in a large company. A clause in their contract which provides them with a large sum of money and/or other benefits in the event of them losing their job or retiring.

Gone To The Wall
Describes a business which has failed

Goodwill
The difference or premium which a purchaser pays, or which a seller asks, for a business or company compared to the 'book value' of its assets, typically representing intangibles such as brand value, intellectual property, talent, market relationships, etc., and which tend to reflect the overall value and appeal with which the purchaser regards the target acquisition. Over-estimating goodwill value, sometimes to an extraordinarily stupid degree, is a surprisingly common downfall of many big corporate takeover deals, when arrogance and blindness to market trends of the acquiring CEO and takeover team can lead to a reckless waste of shareholder funds and ruthless cost-cutting, post-acquisition, when performance, synergies and return on investment fail to reach required levels.

Grandfather Clause
A provision in a new law which allows the person or business already engaged in the activity, which may have been made illegal, to continue to be so engaged

Graphology
The study of handwriting, often used as a way of analysing a person's character. See graphology

Grass Roots
The ordinary people in a business or organisation, rather than the management or the decision-makers

Gratis
To do or give something without payment. Free of charge

Graveyard Market
A term used on the Stock Exchange to describe a Bear Market in which share owners are reluctant to sell because they face substantial losses, and buyers are reluctant to buy because the financial outlook is poor. Those who are in it can't get out, and those who are on the outside have no desire to get in

Gravy Train
A business activity which makes a large profit for an individual or an organisation without much effort. To have it easy

Green Audit
Also called Environmental Audit. An official assessment which shows the effect that an organisation or a company has on the environment.

Green Card
In the US, a legal document which allows an immigrant to become a permanent resident, to work legally and to become eligible for citizenship

Green Paper
A discussion document, typically written and circulated in governmental situations, aiming to start a discussion and the process of producing a white paper, so as to table new legislation. See white paper

Green Taxes
Also called Ecotax. Taxes which are levied on companies, businesses, etc., to discourage activities which will harm the environment.

Grey Market/Gray Market
In marketing and business a grey market (gray market in US-English) is the supply of official goods through unofficial channels, for example the availability of branded consumer products on the internet from unauthorized stockists. Also called a parallel market or product diversion. These terms do not refer to counterfeit goods. The reference is to the unofficial, sometimes illegal, distribution and availability of official branded original goods. The term alludes to the older expression 'black market', and is used or analysed most commonly from the standpoint of manufacturers, who generally regard grey markets as threatening to their marketing distribution and pricing strategies. The term grey market extends widely and includes notably the substantial availability of products which have been diverted from one international marketing territory to another

Grip
In the film and TV industry, a member of the film crew who makes sure that the lighting is right for a scene. They also move scenery and set up large pieces of equipment

Gross Domestic Product
Commonly abbreviated to GDP, Gross Domestic Product is a very frequently used term in business and economics, and basically refers to a nation's total production at market values. GDP is however not easily explained or understood at a detailed and precise level. GDP may be calculated in different ways. Each method requires some qualification of precise definition, and then comprises quite complex formulae, mainly to ensure there is no double-counting, and no ommissions. The main methods seem to be as follows, although each nation has its own rules, and various institutional bodies produce other rules and standards for calculations and definitions. Ordinary people can reasonably regard fully detailed definitions of GDP very confusing. Lots of experts do too. Here is a very simple guide: Simply, and firstly, GDP may be calculated by totalling the market (sales) values of all products and services. GDP may instead be expressed as the combined total spending on products and services by consumers, industry and state. Alternatively, GDP may be expressed in terms of a population's total incomes, plus other items such as corporate profits and taxes on products/services. Each of these methods contains several and variable minor additional factors and caviats. Other methods exist as well, as if the basic two or three methods were not confusing enough

Gross Profit Margin
Expressed as a percentage, what is left from a company's sales after cost of goods sold is paid out. Gross profit margin is obtained by dividing gross income by net sales

Guru
An influential teacher or an expert in a particular subject who shares their knowledge, often by writing books.

Haircut
a percentage subtraction from the market value of an asset, typically on a large scale, enforced by a powerful institution or authority in response to debt/liabilities incurred by the asset owners/investors, producing an effective devaluation of the asset. The 'haircut' term became a more general description for a tax or levy imposed on ordinary savings accounts with reference to the EU-imposed tax on Cyprus bank deposits in 2013, although the underpinning principle/cause was consistent with the technical meaning of the term

Hall Test
A term used when a group of people are gathered together at a particular location and asked to take part in market research

Halo Effect
Where the image or reputation of a person (or group or organization or brand or other entity) is enhanced by influence from or association with the quality of another situation. A halo effect typically refers to an unreliable indicator of good quality (ethics, goodness, honesty, value, benevolence, etc) but might rarely instead refer to an unreliable indicator of negative quality.

Hands-Free
Term used when a telephone can be used without having to be held in the hand

Hands-Off
A term often applied to managers who do not directly participate when dealing with a situation in the workplace by letting the people involved decide what they want to do

Hard Selling
An aggressive type of selling which puts a lot of pressure on a prospective customer to buy a product or a service

Harvesting
A term used when a product is still being sold, although it is no longer being invested in, prior to being withdrawn from the market

Hashtag
A type of tag (here a prefix used with a word/term/reference/etc via electronic keypads, computing, smartphones, etc) in the social networking website Twitter and similar short messaging systems, so that a word preceded by the hash symbol (#) may be found subsequently or otherwise organized, analyzed, displayed, etc. The symbol is generally called the pound sign in the US, since it is used commonly instead of the traditional British

Headhunt
To find a person who is specialised in a particular job, usually for a senior position in a company, and then persuade them to leave their present employment

Health And Safety
Concerned with the protection of employees from risks and dangers in the workplace

Health And Safety At Work Act
HSWA. In Britain, a 1974 act of Parliament which regulates and reinforces the health, safety and welfare of employees in the workplace

Heatseeker
A person who, without fail, always buys the most up to date version of an existing product as soon as it comes onto the market

Hedge Fund
A type of investment fund, which is unregulated and usually very high risk, used by individuals and organisations (not the general public) with large amounts of money to invest

Heuristic/Heuristics
A concept within psychology referring to instinctive thinking based on learned 'rules', habits and tendencies (increasingly understood and defined by experts) which people use to make judgements and decisions. Sometimes heuristic thinking is helpful; other times not. Heuristics are extremely useful in understanding and influencing human behaviour/behavior, especially in groups. More generally the word heuristic describes personal learning and discovery, as distinct from being told or taught or instructed by somebody else. This may involve trial and error, and within a learning or training environment crucially must allow for people to make mistakes, as a method of developing effective ideas and solutions. The word is from Greek, heuriskein, to find. See Nudge theory, within which heuristic thinking is explained and featured strongly

High Net Worth
Term which describes a rich individual or family who have investable assets of $1million or more, but this can vary. A person with more than $50million is classed as Ultra High Net Worth. (as at 2009)

Holding Company
A company which is formed for owning and holding controlling shares in other companies

Hole in The Wall
An informal term for a cash dispensing machine, also called an ATM (automated teller machine)

Hothouse/Hothousing
Informal term for an intense development environment or method, or the verb equivalent, typically applied to training people or developing ideas or ventures; a metaphor alluding to a heated greenhouse for growing plants

Human Resources
HR. The people who are employed by and operate a business or organisation. The department within a company which deals with recruitment, training, employee benefit, etc

Hunt and Peck
Inexpert slow typing on a keyboard using only one or two fingers

Hush Money
A bribe or payment, which is often illegal, given to someone to stop them from disclosing information, usually to prevent bad publicity or to hide a crime

Hushmail
An internet service offering encypted email, file storage, etc

Hyperinflation
An extraordinarily high rate of economic inflation during which a country's prices rise and currency loses its value uncontrollably in a vicious cycle, usually occurring during severe political instability or war. Normally inflation is measured in terms of a few percentage points increase per year - typically below 10% and sometimes approaching 20%. By contrast hyperinflation may be at a rates of tens of percentage points increase per month, and in extreme rare cases hundreds of percentage points per month. In this event, where prices can be doubling and currency values halving every few weeks (or days, in very rare situations), a country is forced to issue new banknote denominations of ludicrously high values, and within living memory news stories have featured workers collecting their wages in wheelbarrows.

Identity Theft
A crime in which someone obtains another person's personal information, such as passport, credit card details, etc., and poses as that person in order to steal money, get benefits, make purchases, etc

Idle Time
The time that a piece of equipment or a machine, such a as computer, is available, but is not being used

Impeach
To charge somebody, usually a government official, with serious misconduct. To cast somebody out of public office, for example a president or courtroom judge because of a serious crime or misdemeanor

Imperfect Market
A market in which buyers do not have access to enough information about prices and products, and where buyers or sellers can have an influence over the quantity and price of goods sold

Import Duty
A tax charged on certain goods which are brought into a country

Impound
To seize and hold property, funds, etc., in custody (typically by a state-empowered authority), often during legal dispute

Incapacity Benefit
A state benefit in the UK which is paid to people below pensionable age who have made National Insurance contributions, and who are too ill or disabled to work

Incentive Marketing
The offering of rewards or gifts to sales people as an incentive to get more orders from dealers or customers. To offer customers rewards for buying products or services

Income Fund
An investment fund with high returns which pays the owners a regular income

Income Tax
A tax paid by individuals to the government, the amount of which is dependent on how much a person earns from their salary and/or other sources of income

Incubator
An organisation or company which provides support to new businesses to help them develop and grow

Indemnify
To insure and offer financial protection against loss, damage or liability

Independent Financial Advisor
(IFA) Someone who works independently, i.e., not for a particular company, and offers people advice about financial matters and recommends where to invest their money

Index-Linked
Concerning salaries, pensions, investments, etc. If they are Index-Linked it means that the payments or income from these may vary according to the rate of inflation

Indict
To formally charge someone with a crime

Indirect Materials
In accounting, products or services, such as electricity, cleaning materials, chemicals, etc., which are used in the production of goods but are not part of the end product

Induction
The introduction and training of a member of staff in a new job or position in a company

Industrial Action
Also called a strike in the UK. Known in the US as Job Action. A protest by employees during which they refuse to work, usually because they want better wages and/or better working conditions

Industrial Relations
Relations between the management and the workers, especially those in unions, in industry

Industrial Tribunal
An independent judicial body which deals with disputes between employers and employees

Industrialist
A person who owns or runs a large industrial enterprise. They are often referred to as a Business Magnate

Inflation
Normally referring to the economy of a country, inflation is the gradual increase in the price of goods and/or services, and the consequential devaluing of the national currency. Inflation is typically up to 10%, or more unusually approaching 20% per year. Minimising inflation is normally a high priority within national fiscal policy since higher levels of inflation cause a variety of economic and business problems. See also deflation and hyperinflation

Inflection Point
In business, when important significant changes take place in an organisation. (Andrew S. Grove - Intel)

Infomercial
An 'information commercial' (a portmanteau word). A long television commercial (advertisement) presented in the form of a documentary or TV program. This format is used so that it does not appear to be selling a product or service

Information Superhighway
Communications network, notably the Internet, which provides high speed access to information in the form of sound, text, images, etc

Information Technology
Also known as IT. The study and use of computers and communications systems.

Inheritance Tax
Also called Death Duty in the UK. Known as Death Tax in the US. A tax imposed by the government which much be paid on the total value of the estate of a deceased person