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

Injunction
An official court order which demands that someone must refrain from carrying out certain actions

Innovation
The introduction of new ideas, goods, etc., or new methods of production. A new way of doing something

Inorganic
A term used to describe the growth of a business from mergers or takeovers, rather than from the increase in productivity or activity of the company's own business

Inside Information
Information about a company which is known only by the owners, management and/or employees, and not the general public. The use of Inside Information for the buying and selling of shares is usually illegal

Inside Track
An advantageous position in a company or organisation. To know about something before others get to hear about it

Insolvency
Not having enough finances or assets available to pay all your debts

Instant Access Account
A bank or building society account which allows you have instant access to your money without any penalties

Insurance Adjuster
Also known as a Claims Adjuster. An independent person who investigates insurance claims for an insurance company and evaluates the damage caused and decides whether the claims are valid, and if they are, how much should be paid in settlement to the insured party

Intangible Asset
A company's assets which do not physically exist, such as brand name, trademarks, copyrights, etc

Intellectual Capital
The skills and knowledge of a company's employees, which can be used to make the company more successful than its competitors

Intellectual Property
Commonly abbreviated to IP, an idea or creation, e.g., artwork, writing, etc., that belongs to an individual or organisation, which has commercial value and therefore cannot be copied or sold without the owner's permission

Inter Alia
Latin for 'among other things' - a traditional term which typically precedes a list of examples, and is found in official or formal text or various sorts. Inter alios means 'among other people', but is much less used

Interest Rate
A fee which is charged for borrowing money, e.g., a loan from a bank or financial institution, lease arrangement, goods bought through hire purchase, etc

Intermediary
A mediator or agent who negotiates between two parties who are unable or unwilling to reach an agreement by themselves

Internal Equity
In a company or organisation, ensures the pay each employee receives is determined fairly by the type of job they do

Internesia
Relating to the Internet. Being unable to locate a particular website which you found interesting or on which you saw a useful piece of information

Internet Cafe
Also called a Cybercafe. A public place where people can use a computer, usually for a fee, to check e-mail, access the Internet, etc. These places often sell drink and food, like a regular cafe

Intervention Price
A guaranteed minimum price set by a government for a product, usually farm produce. If the price falls below this then the government, or agency, will buy the produce at the Intervention Price

Interventionism
The policy of a government to intervene and manipulate a country's (often its own) affairs and/or economy

Intestate
Without leaving a will, as used in the phrase, 'to die intestate'

Intrapreneur
A person employed by a large company to work independently to develop new projects and business within the company

Intrinsic Value
The actual or real value of a business, commodity, asset, etc., rather than the market value or share price

Invention
A new device, process, product, etc., which has been created and developed by an individual or a group

Investment
Money or capital that is invested in a business or in an account with a financial institution in order to make a profit or earn interest

Investment Boutique
A small company which offers specialist advice about investments and business

Invisibles
'Invisible' services of a country, such as banking, tourism, insurance, etc, of which the buying and selling are from international trade

Involuntary Liquidation
When a company is forced into bankruptcy by its creditors, so that its debts can be paid

Island Position
An advertisement or commercial which is surrounded by text, or placed between TV programs, with no other advertisements, so it has no competition

Issue Price
On the Stock Exchange, the price at which a new share, stock, etc., is offered to the public

Job Costing
A system of calculating the cost of each individual job or project carried out by a business, includes time, labour, materials, etc

Job Lock
A situation in which a person feels they cannot leave their job because they are afraid of losing benefits connected to the job

Job Protected Leave
Allows people to officially take time off from their work for a longer period without the fear of losing their job, often because of illness or pregnancy

Job Sharing
A work schedule in which two or more people voluntary do one full-time job, sharing the work and dividing the hours between them

Joint Consultation
An organisational decision-making process in the UK, where managers and employees representatives, usually from unions, meet to discuss matters relating to the employees working conditions, etc

Joint Stock Company
A company or organisation owned by joint shareholders, which is a type of corporation and partnership. The stockholders run the company and share its profits and debts

Junk Bond
Also known as High Yield Bonds. A high risk bond with a high interest rate, often used by companies to raise finances in order to take over other companies

Just-In-Time
JIT. A manufacturing system in which materials and components are delivered immediately before they are required, in order to increase efficiency, reduce waste and minimise storage costs.

Kanban
Japanese for 'visible record'. In industry, a manufacturing system which is regulated by the use of cards or boards which contain specifications and instructions for the production process of goods

Keiretsu
In Japan, an alliance of companies or organisations which own shares in one another as a means of security, but each individual company operates independently

Kerb Market
In the US, the buying and selling of shares in companies which are not listed on the stock exchange. In the UK, the buying and selling of stocks and shares outside official trading hours

Kettling
Term which is used to describe the police tactic of penning protesters into an area by forming a barrier around them and refusing to let them out

Key Account
In business, a company's main client or customer, who represents a large percentage of the company's income

Keyword Advertising
Used on the Internet. When a user types in a particular 'keyword', an advertisement which is linked to a business relevant to that word, is displayed alongside the search engine results

Kickback
A bribe or illegal payment made to someone in exchange for a successful referral for a job or transaction

Kidult
An adult who enjoys films, games, TV, clothes, etc., which are deemed more suitable for children or much younger people

Killer App
Short for Killer Application. Derives from the computer industry. A new product or service which is the first in its category and therefore dominates that particular market, creating huge returns on the initial investment

Kitemark
In the UK, the official mark of approval by the British Standards Institution, to show that a product or service is safe, reliable and of good quality

Knock-Off
An unauthorised copy of a product, usually designer clothing

Knocking Copy
In advertising, the criticism or attacking of a competitor or a rival product

Knowledge Base
In a computer system, a database with a store of information, facts and rules which can be used for problem-solving

Knowledge Worker
Also known as an Intellectual Worker. A person who is employed by a company to use their brain and intellect to work with information, rather than performing manual tasks

Kudos
Common management term meaning positive recognition, praise or fame - from the Greek word kydos, meaning glory.

Labour Intensive
A job requiring a lot of work, and often a lot of workers, in comparison to the costs of materials, equipment, etc

Labour Law
Also known as Employment Law. Legislation which defines the legal rights and obligations of employees in the workplace

Lading
Freight or cargo carried by a large vehicle. The act of loading cargo onto a ship.

Laid-Off
In industry, etc., when workers lose their jobs, sometimes temporarily, because there is no work for them

Laity
Usage is typically 'the laity' ('lay-ity'), an old traditional alternative word for lay people/members, typically used in relation to church organization and council, but applicable widely to ordinary people, as distinct from professional or qualified folk

Landing Page
On the Internet, the first page that visitors to a website arrive at after they've clicked on a link to the site

Larceny
The crime of unlawfully taking someone else's property or money. Theft

Large Cap
On the Stock Exchange, a company that has a large market capitalisation, i.e., a high total value of shares

Law Of One Price
The rule that without trade barriers and transportations costs, identical products would cost the same worldwide using the appropriate exchange rate of currency

Layaway
Often referred to as Lay-By. A means of purchasing an item by paying a small deposit to reserve it and then paying the balance in installments. When the total purchase price has been paid the customer can then take delivery of the goods

Lead User
Term introduced by economist Eric von Hippel in 1986. Lead users are individuals or companies who greatly benefit from being the first to use or adapt a product for a particular need, often months or years before the general public or other businesses are aware of the need for the product

Leader
Someone who leads, sets example, inspires, motivates, etc - technically having the personal qualities which attract followers for given situations. See the leadership theory section for lots more definitions and explanations, including differences between leadership and management. And see the leadership tips page for a more general guide to modern ethical progressive leadership

Leadership
A person or number of people responsible for leading a team or group of people, usually in some sort of organized body or company, or the direction of a smaller team in a specific project or situation. See the leadership theory section for clarifications of leadership and the many theories which seek to explain and teach it. And see the leadership tips page for a more general guide to modern ethical progressive leadership

Leading Indicator
A particular measure of a country's economic activity, used to predict near future economic trends

Lean
Also known as the Toyota Production System or Just-In-Time Production. A system used in management, production, manufacturing, etc., to decrease waste and increase efficiency, especially with the use of automated assembly lines in the motor industry

Learning Curve
A graph depicting the rate at which a person learns a new skill. A steep learning curve shows that a person is learning quickly, and a shallow learning curve means that a person is slower and taking more time to learn

Lease Purchase
A finance agreement in which an item, usually a car, is leased for a certain period of time with an option to purchase at the end of the contract

Leaseback
An arrangement between a purchaser of a property and the vendor in which the vendor immediately leases the property back from the purchaser

Leave Of Absence
The period of time which a person is permitted by their employer to be absent from their job

Legal Aid
Legal assistance provided , usually by the state, for people or organisations who cannot afford to pay for solicitors or legal advice

Legal Reserve
The minimum amount of money, required by law, that a bank, insurance company, etc., must set aside in order to be able to operate.

Legalese
An informal term for technical legal language, especially in documents intended for public/consumer readership, such as house conveyancing contracts, insurance policies, financial documents, especially loan arrangements, all sorts of terms and conditions, employment contracts, and general 'small print' in contracts. A cynical view asserts that much legalese is wholly intentional by the document writers, who are typically lawers and solictors, so as to dissuade customers/users from reading and understanding contractual details which may commonly be disavantageous or even highly onerous or potentially damaging. Incidentally, many contracts are produced entirely in upper case (capital letters), supposedly for emphasis, although in many cases this intends to worsen readability and accessibility still further.

Lender Of Last Resort
A country's central bank which loans money to other banks or financial institutions which cannot borrow money from anywhere else and do not have enough reserves to cover cash withdrawals by their customers

Letter Of Comfort
A letter of approval written to a bank by a parent company on behalf of a subsidiary company which needs financial backing

Letter Of Indemnity
A document in which an individual, company, etc., guarantees to protect another from costs, liability, etc., as a result of certain actions which may be carried out

Liabilities
Debts which are owed to someone, obligations or responsibilities which are legally binding

Lien
A legal right to take and keep another persons property until a debt has been paid by the property owner

Lifeboat
An emergency loan offered to a company or bank which is in financial trouble.

Lightning Strike
A sudden strike by workers, with little or no warning. These strikes are often short in duration and usually without official union backing

Limited Company
In the UK, a company that has a name ending in 'Ltd.' The owners of these companies have limited liability if the company gets into debt

Limited Liability
In law, the owners and/or shareholders of a limited company only lose the amount they have invested if the company gets into debt

Linchpin
The most important person or thing in a business or organisation

Line Authority
In business, the power given to management allowing them to give orders and to control subordinates

Liquidate
The closing down of a business by selling its assets to pay its debts

Liquidated Damages
The fixed amount agreed upon by parties to a contract, to be paid to one party in the case of a breach of contract by the other party

List Price
Known as 'Sticker Price' in the US. The advertised or recommended retail price (RRP) of a product

List Rental
The renting, from an organisation, of a mailing list which has potential customer names and addresses, for a one-off mailing

Litigant
A person or party who is involved in a court action or lawsuit.

Litigious
To routinely or enthusiastically take legal action to settle disputes.

Living Trust
A trust created in which assets can be transferred to someone while the grantor (the person who owns the assets) is still alive. Living Trusts avoid dealing with the legalities of a will

Loan Shark
Someone who offers unsecured loans at excessive rates of interest

Local Content Measure
Where a business or investor is required to purchase a certain amount of locally sourced materials to be used in the manufacturing, etc., of their product

Lockout
A term used during an industrial dispute, when management closes down a workplace and bars employees from entering until they agree to certain terms and conditions

Locus Standi
(Latin - place of standing) The right or capacity of a litigant to be heard or to bring an action in court

Long Grass
To 'Kick something into the long grass' means to push a problem aside in the hope that it will be ignored or forgotten

Long Position
A situation in which an investor or dealer holds onto shares, etc., which they have purchased, expecting them to rise in value in the future

Long Term Liability
Taxes, leases, loans, etc., which are payable over a period greater than one year

Loophole
An unintentional mistake in a contract or a law which allows people to evade an obligation in the contract, or to get round the law without actually breaking it