A period of leave which is granted to an employee, sometimes up to a year, in order for them to study, travel, rest, etc.
To deliberately destroy or damage property, tools, or machinery in order to hinder production. To cause an obstruction to something in order to make it unsuccessful.
Also called Buffer Stock. Extra stock kept by a company or business in case of extra demand or late deliveries of new stock.
The process of carrying out small actions or removing something in very small amounts so that it goes unnoticed, i.e., stealing money.
An employees wages which are paid on a regular basis for performing their job.
Sale And Leaseback
An arrangement in which property, machinery, etc., is sold to a business or individual, who then immediately leases it back to the seller.
Sale Or Return
An agreement in which unsold goods can be returned to the supplier without the goods having to be paid for.
Sales And Marketing
The business of promoting and selling a company’s products or services. The department of a business which carries our these activities.
A meeting at which members of a company’s sales team(s) are brought together to discuss or review ways of marketing the company’s products or services.
Also known as Accounts Receivable. A company’s record of transactions for goods and/or services which have been provided to a customer, and for which money is still owed.
A salespersons attempts to persuade a potential customer to buy something, often using demonstration and argument.
The refusal of a potential customer to buy a product or service, often as a result of aggressive selling practices.
Known as VAT (Value Added Tax) in the UK. A tax based on the cost of a product or service which must be paid by the buyer. This tax does not apply to all goods or services.
Also known as Residual Value. The estimated value of an asset, for example a piece of machinery, which is to be scrapped or removed.
In a court of law, the practice by a lawyer of not mentioning a possible error which has occurred during a trial in the hope that it goes unnoticed and the lawyer can then use it as a basis for appeal.
In the UK, an educational course, sometimes lasting three or four years, which involves alternate periods of study, e.g. at university, and periods of work experience in business or industry.
A derogatory term for an employee who refuses to join a trade union, or who continues to work during a strike at their workplace. Also describes someone who accepts work or replaces a union worker during a strike.
The ability of a computer network, software, etc., to expand and adapt to increased demands of users. A system which can work on a small or large scale according to demand.
Means of making money by deceit or fraud.
A situation where the more scarce an item is, the more its worth.
German word derived from Schaden (damage, harm) and Freude (joy). Malicious pleasure derived from the misfortune and suffering of others. Typically felt by individuals with low self-esteem.
Scheme Of Arrangement
In the UK, a legal agreement between a company and its shareholders and/or creditors in which the company will pay what debts it can as an alternative to bankruptcy.
A split or division in a group into opposing factions, caused by differences of opinion.
A situation in which a company tries to prevent a hostile take-over by selling off its most valuable assets, thereby making the company unattractive to a potential buyer. Derives from a military strategy of ‘leaving nothing for the enemy’ by burning crops, buildings, etc.
A task which is carried out using a computer.
A brief, first interview, sometimes over the phone, with a company looking for potential job applicants. This process weeds out unsuitable applicants, and successful ones go on to the next stage of interviews.
A moving image on a computer screen which appears when there has been no screen activity for a specific time. Screensaver programs were originally used to prevent damage to the screen.
A certificate which entitles someone to a parcel of shares. An issue of additional shares given to existing shareholders instead of dividends.
Secure Digital Card. A small memory card used in portable devices such as mobile phones, cameras, etc.
A bid to buy an item, or a cost estimate for a contract, which is kept secret in a sealed envelope until all the bids have been received and are opened together.
Stock Exchange Automated Quotation system. In the UK, a system used on the London Stock Exchange which continuously updates share prices and shows the information on computer screens around the world.
Google, Bing, Yahoo, etc., are examples of Search Engines which locate, list and rank (according to various crietria and unknown algorithms) relevant websites and website content on the Internet when the user types in key words or phrases.
A sympathy strike. Action which is taken by workers in one industry in support of striking workers in a separate but related industry.
An organised protest to prevent or persuade a company from doing business with another company which is involved in a dispute.
On the Stock Exchange, the purchasing of shares from another investor rather than from the issuing company.
Also called Desk Research. The collating and analysis of existing data which has already been collected for another purpose often by an outside source.
Term which describes an improved product, service, etc.
A person who works for another person , usually in an office, dealing with correspondence, filing, phone calls and other clerical duties.
Securities and Exchange Commission
SEC. In the US, a government agency which is responsible for protecting investors against fraudulent and dishonest practices in the securities market.
Securities and Futures Authority
SFA. Now part of the Financial Services Authority. In the UK, an organisation which regulates the trading in stocks and shares, bonds, etc., and protects investors against dishonest practices.
Exchange(s) where investments such a stocks and shares, etc., are traded. Traditionally and originally these exchanges were buildings containing traders and brokers, etc., whereas nowadays such trading is conducted virtually using modern communications and IT systems, usually online, so that markets and exchanges are virtual, i.e., existing mostly through connections between people and organizations and systems, rather than necessarily requiring a physical grouping in a building.
The strict financial meaning of a security is a document that proves ownership of stocks, shares, bonds, etc., or other investments or financial derivatives. More loosely the term securities refers to investments generally, for example in the term ‘securities market’.
A sum a buyer pays, which is not usually refundable, to protect the seller if the buyer does not complete a transaction or if a rented item gets damaged.
Money or assets set aside by a business in order to generate more profit or benefit in the future.
Profit made by a government from printing and minting banknotes and coins. The profit being the difference between the cost of issuing the money and the face value of the money.
Term which applies to consumers who only notice, or are aware of, certain pieces of information in advertisements, etc., because that is the only part in which the consumer is interested.
Term introduced by Kurt Goldstein in 1934, describing the need to realise one’s full potential, being a basic life force, and later re-interpreted and popularised by Abraham Maslow as the highest order of needs in his Hierarchy of Needs theory.
A person who earns their income by operating their own business, rather than working for an employer and receiving a salary.
Financially independent. Being able to operate without the help of others.
A situation in which there are more buyers than sellers, often resulting in high prices.
Costs which are incurred for the advertising and distribution of a product.
Sell Limit Order
An order to a stock broker to sell a specific number of shares at or above a specified price.
A business meeting for training purposes or for discussing ideas.
Having or requiring some skills or special training to perform a job, such as operating machinery.
An informal method of research in which set questions are asked which allow other questions to be brought up as a result of the interviewees response.
Looks at the effects of the performance of a system, project, etc., by changing the variables, such as costs, sales, production, etc.
A sampling method in which an unfixed number of samples are tested and enough data is collected before a decision can be made.
Keeping a jury in isolation, under close supervision and away from the public and media, during a trial.
To legally confiscate someone’s property until a debt has been paid.
Also called Instalment Bonds. Bonds which are issued on the same date but mature over a period of time, usually at regular intervals, so the issuer can spread the repayment to the investor.
A computer which provides services, such as e-mail, file transfers, etc., to other computers connected to the network.
Part of a country’s economy which provides services, such as banking, tourism, education, retail, etc., rather than manufacturing or production.
Service Level Agreement
SLA. A contract, which can be legally binding, between a service supplier and a user, in which the terms of service are specified.
Secure Electronic Transfer. A safe and confidential way of paying for goods which have been purchased over the Internet.
Introduced in 1988 in the UK to reduce the overproduction of arable crops. Farmers are paid to keep land fallow rather than use it to grow produce.
Term used to describe the date by which shares, bonds, etc., must be paid for by the buyer, or a sold asset must be delivered by the seller.
Sex Discrimination Act
In Britain, legislation passed by Parliament in 1975, mainly related to employment in the workplace, which makes it unlawful to discriminate against an individual because of their gender.
Discrimination and/or abusive behaviour towards member of the opposite sex.
Sending sexually explicit messages and/or pictures by mobile phone.
To be with someone in the workplace as they perform their job so that you can learn all about it.
Also called Black Economy. Business activities, including illegal activities, which are carried out without government approval or regulations.
Any of the equal units into which a company’s capital stock is divided and sold to investors.
Also known as Stock Repurchase. A situation in which a listed company buys back its own shares from shareholders.
Funds raised by a company from shares sold to investors.
Also called Stockholder. An individual, business or group who legally owns one or more share in a company.
Share Incentive Plan
SIP. A way for employees to invest in the company for which they work. The company gives the employees shares or offers shares for them to buy, enabling the employees to receive some of the company’s profit, i.e. in dividends.
A list of certain companies share prices, which can be compared on a day to day basis, i.e. showing whether prices have risen or fallen.
Copyrighted computer software which is available for a free trial, after which a fee is usually charged if the user requires continued use and support.
A dishonest business person who cheats and swindles others.
Measures taken by a company, such as creating different voting rights concerning shares, or requiring certain shareholders to waive rights to capital gains resulting in a takeover, etc., in an attempt to keep a hostile bid from succeeding.
An individual or company who monitors the stock market for another company and warns them of a potential takeover, e.g., if a lot of their shares are being bought by one person or one company.
Also known as Shelf Screamer. A sign hung on the edge of a shelf in a shop to attract peoples attention to a product.
In the US, a forced sale of property ordered by a law court, the proceeds of which settle unpaid debts.
A very tight, barely adequate budget.
Workers, usually in a factory, as opposed to managers. The area in a factory where production of goods takes place.
Also called Price Engine. Computer software which searches the Internet and compares prices from retailers for specific products.
A member of a Trade Union, usually in a factory, who is elected to represent other members in meetings with management and personnel officers.
Give too little change in a cash transaction, and metaphorically meaning to treat someone unfairly or dishonestly, deprive someone of something, or cheat, usually from a position of control or dominance.
The purchase of the same number of shares, bonds, etc. which have been sold short. (See Short Selling)
The sale of shares, etc., which are not owned by the seller but borrowed from a broker, on the understanding that they must be bought back, hopefully at a lower than what they were sold for in order to make a profit, and returned to the broker.
In the travel industry, the time between high and low season.
A derogatory term for content which is put directly on to a web page, e.g. from a magazine, etc., without changing its appearance to make it suitable for the Internet. Also refers to pre-installed programs on some computers, which have little value to the user.
emerging in the popular media in 2012 the term ‘showrooming’ refers to the 21st century practice of shoppers visiting retail stores to inspect/handle/assess products, especially electronic/technology equipment and gadgets, which the shoppers (quite intentionally as part of a buying method) subsequently purchase online, thereby achieving a lower price than offered by the retail store. Increasingly shoppers are able to use smartphones to scan or otherwise check/confirm/record precise product types/codes, etc. On a wide scale, in certain product sectors, the practice undermines the retail store business model, through stock wear/damage, wasted staff time, etc., although product susceptibility varies greatly. Some products, e.g., standardized mass-market goods, are hugely prone, whereas others, e.g., high quality musical instruments and jewellery, hardly at all.The behaviour is extremely common and part of a significantly and globally changing retailing economic system. Showrooming is a factor driving retail exclusivity deals, and notably ‘dark store’ strategy and development, in which collection warehouses are replacing conventional retail outlets.
Sic – Latin for ‘thus; in such a manner’, used when quoting a passage to show that the original spelling or grammar, typically incorrect, has been retained.
Sick Building Syndrome
SBS. Ailments, such as headaches, fatigue, nose and throat irritations, etc., experienced by workers or residents in certain buildings, often believed to be caused by poor ventilation, air conditioning, heating, cleaning chemicals, or the materials from which the building has been made.
A type of organised strike in which the employees refuse to work by staying away from the workplace and claiming they are ill.
Special Interest Group. On the Internet, a place where people can discuss and exchange information about a particular subject. A group or organisation whose aim is to influence political decisions by trying to persuade government officials to act or vote in the group’s interest.
To buy something which has not been available for inspection before the purchase.
Also called Unsecured Loan or Character Loan. A loan which is not backed by any security, and which only requires the borrowers signature.
An area in Manhattan, New York, which is known for its Internet and multi-media companies.
An area south of San Francisco, California, which is noted for its computer and high-technology industries.
A simple extremely effective solution to a very challenging and serious problem. A metaphor alluding to the mythical method of killing a werewolf or similar monster. See also Magic Bullet, which basically means the same.
An older person who uses the Internet.
From the full meaning, Subscriber Identification/Identity Module. A small removable card which stores personal information on a mobile phone or other small personal computerized device. There are other less serious interpretations of the SIM acronym.
Interest which is calculated on the original amount of money deposited or borrowed, and not on any interest which may have accrued.
A job or position which involves little or no work, but for a which a person is paid.
A simple system of recording a company’s finances in which transactions are recorded only once in one account.
Money set aside on a regular basis by a company, that is used for paying debts, taxes, etc., which are due at a later date.
A tax on certain goods or services which are considered bad for people, such as cigarettes, alcohol, etc.
A business strategy, originally developed by Motorola, which strives for perfection in production and quality. See Six Sigma.
Six Thinking Hats
Group dynamics and decision-making concept devised by Dr Edward De Bono, from the book so named, based on De Bono’s theory of how people look at things/situations from different perspectives.
Stock Keeping Unit. A unique number which identifies the price, size, manufacturer, etc., which is assigned to a product by a retail store.
A production development program in a company which has the freedom to work outside the usual rules, without the restrictions of company procedures and policies.
Something, such as a film, book, share, etc., in which there is little interest but suddenly becomes a success.
Also called Silent Partner. A person who has invested capital in a company but does not take an active part in managing or running it.
A catch-phrase used in advertising which is easy to remember so it is associated with a product or company when people hear or see it.
Also called Slush Money. Funds which are raised and set aside for dishonest or illegal purposes, e.g., for bribing government officials.
Small Claims Court
A UK court in which hearings are generally informal, without jury, for the judgment of civil claims for small amounts of money, and where parties commonly represent themselves instead of hiring a solicitor or lawyer, although legal assistance or representation is permitted.
An informal term for contractual terms and conditions which usually appear in very small font size (typically 8-point or less, whereas normal easily readable text is 10-point and over) on the reverse of a more accessible simple presentation of some sort of deal or arrangement into which a customer or user enters with a provider or supplier. ‘Small print’ is usually characterized by legalese and complex details, and is commonly used in a cunning way by unscrupulous suppliers to trick buyers into signing onerous agreements. The small size of the print became a practical necessity to accommodate the volume of contractual detail included in most legal documents, but has long served an ulterior purpose of ensuring that most contractual ‘small print’ is never read at all.
Smoke And Mirrors
Term based on a magician’s illusions. To cover something up by drawing attention away from it.
Short Message Service. Allows a text message to be sent from one mobile phone to another.
Mail which is delivered in the traditional way by postal service, rather than e-mail.
Humorous term describing the transfer of electronic information, such as computer files, by physically taking the disk, cd, etc., from one computer to another.
A business chiefly having positive social and/or environmental aims, in which community and staff tend to feature strongly in priorities, and where profit is a means towards social, environmental or community purposes rather being an aim itself for the enrichment of owners or shareholders.
On the Internet, online communities which are built for people who share interests and activities, or to make and/or contact friends and family, e.g., Facebook, Twitter, etc. The practice of making business and/or social contacts through other people.
A belief that a country’s wealth should be distributed equally among its population, and to varying extent also that its industries should be under government ownership and control.
The process if identifying and dividing people into groups according to their social, economic and/or educational status.
Also known as Soft Financing. A loan which has attractive terms for the borrower, such as low or no interest rates and/or a long repayment period, often made by banks to developing countries.
A subtle, persuasive way of selling a product or service, as opposed to Hard Selling.
A general term for programs, etc., used to operate computers.
Soldier Of Fortune
A mercenary. A person, sometimes ex-military, who is hired to work for another person or country. A freelance fighter.
Also called Sole Proprietor. A business which is owned and managed by one person who is responsible for any debts which are incurred, keeping their own accounts, etc.
The money a business requires in the form of cash or saleable assets, which must exceed the amount needed to pay bills, debts, etc.
Having enough funds to pay all your debts.
A number which is assigned to a branch of a bank, found on cheques, bank statements, etc., which enables that particular bank’s address to be identified.
Unsolicited e-mail which is sent to numerous recipients.
In the UK, special commissioners are present at appeals concerning disputes between the Inland Revenue and tax payers.
To be highly skilled in a particular branch of a profession, occupation, activity, etc. Developed or adapted for a particular job or task.
In business, a resolution which must be passed by a high majority of a company’s shareholders, often 75%, as opposed to an ordinary resolution, which only requires more than 50% of the the vote.
An example of a person’s signature required by a bank, etc., so that it can be compared with the same person’s signature on cheques and documents.
To risk investment in property, shares, etc., in the hope of making a profit when selling them.
Key words or phrases which are placed, usually invisibly, on a web page in order to attract search engines.
A commission paid by a manufacturer or supplier to encourage salespeople to sell their product rather than a competitors.
The presentation of news/reports/information by politicians, business-people, etc., (typically cynically, dishonestly, unethically) in a highly positive way, or in a way designed to support a particular position. The term derives from the sense of putting a ‘spin’ on a story, so as to distort the truth to suit a particular purpose. This entail the use of euphemisms (unreasonably optimistic interpretations) in referring to one’s own performance/effects, and dysphemisms (unreasonably negative interpretations) in referring to critics and competitors and their actions, effects, etc.
A public relations official or press/media spokesperson, in government or corporate work.
A company or individual who helps to support, usually financially, a team, an event, such as a sports meeting or concert, etc., in return for publicity or to advertise their own company or product.
A random inspection or examination, often with no warning, of a sample of goods or work performance to check for quality.
On a computer, a program used for entering, calculating and storing financial or numerical data.
A term used for an area of London in which many financial institutions are based.
A situation in which there is a slow economic growth along with high inflation and high unemployment.
A person or group, such as shareholders, customers, employees, suppliers, etc., with a vested interest in, and can affect the success of, a company or organisation, or successful completion of a project, e.g
Called Stamp Tax in the US. A stamp which must be put onto certain documents, contracts, etc., to show that he tax has been paid when property, land, etc., has been sold.
In the UK. an instruction given to a bank to debit a fixed amount of money from an account, usually every month on the same date, to pay a bill, mortgage, etc.
Standing Room Only
A sales technique in which a company or individual selling a product gives the impression that many people wish to buy the product, encouraging people to purchase it immediately in case it sells out and they don’t get another chance.
In the UK, money given by the government to people who don’t have enough funds to live on and need financial assistance, often because they are unemployed or too ill to work.
State Of The Art
The highest level of development and/or technology applied to a product or service which is currently available.
A person who specialises in or works with statistics.
In the UK, a request made to a bank asking for a report on a person’s financial status, i.e., whether they can repay a loan, mortgage, etc.
US term for spending one’s vacation at home or near to one’s home.
Also known as Buzz Marketing. A method of advertising a product where customers don’t realise they are being persuaded to buy something, e.g., people recommending a product on Internet Chat Forums, without others realising that the person actually works for the company or manufacturer selling the product.
Also called Steering Group. A group of people who are responsible for monitoring a company’s operations or project progress, by ensuring it complies with company policies, resources and costs are approved, etc.
A shorthand typist. From Greek: Stenos (narrow) and Graphie (writing)
The basic monetary unit of the UK, e.g. the pound.
Latin for ‘let it stand’, a term from printing, which extends to proof-reading and copy-checking, editing, etc., to indicate that a word or section marked for deletion (crossed through) within a document or other media is to be retained.
Also called Longshoreman. A person who works on the docks, loading and unloading cargo.
A US term for the feeling of surprise or shock experienced by some customers when they see that the price of an item they were thinking of purchasing is much higher than they expected.
A fixed, often modest, payment, usually made on a regular basis, to someone, e.g. an apprentice, for living expenses during a training period.
An investor’s share of ownership in a company which entitles them to equity in the company, dividends, voting rights, etc.
A person or company who buys and sells shares, bonds, etc., on behalf of others, in return for a fee.
An organised market place where shares in companies are traded by professional stockbrokers.
The effect in which hostage victims form emotional attachment or fondness towards their captors. The Syndrome is named after the 1973 ‘Norrmalmstorg Robbery’ – an armed raid on Kreditbanken at Norrmalmstorg in Stockholm, Sweden. The bank’s employees were held hostage from 23-28 August, during which time some of the victims became emotionally attached to their captors, even defending them after being freed. The term Stockholm Syndrome was first used by criminologist/psychiatrist Nils Bejerot, when assisting police during the siege, referring to the Syndrome in a news broadcast. It was defined in more detail by psychiatrist Frank Ochberg to aid the management of hostage situations. While Stockholm Syndrome chiefly and originally refers to hostage situations the term extends to other forms of ‘traumatic bonding’, not necessarily dependent on a hostage situation, more broadly describing the somewhat counter-intuitive tendency among certain folk for strong emotional connections to develop within an abusive relationship. At a slightly milder but nevertheless still very worrying level we see the same principle extending to abusive employment situations and other ‘working’ relationships, where badly-treated and exploited workers can develop strangely positive feelings towards abusive bosses/employers. Whether driven by fear, dependence, gratitude (for limiting the level of abuse), survival impulse, or various other possible factors, the Stockholm Syndrome remains puzzling and paradoxical at any level, and yet a very real human tendency in certain situations.
The process of listing all the items, materials or goods which a shop, company, etc., has in stock. An inventory of merchandise.
A display which automatically updates and shows the current prices and volumes of traded shares on the Stock Market.
Excluded people, organizations, or other items, typically for reasons of disqualification for failing to meet standards or terms stipulated by the organization responsible for the exclusion. This might be customers excluded from a supply by a provider, or people prevented from membership or involvement with an organisation. Often a stoplist refers to customers ‘on stop’ because of poor credit rating or payment history, and notably payment default. More technically a stoplist may refer the words excluded (‘stopwords’) in computerized generation of a concordance, which in publishing refers to a detailed cross-referenced index of key words from a text or book or report, etc. Another example might be a schedule of banned substances or ingredients. Basically a stoplist may refer to a roster or schedule of potentially acceptable items/entities/people excluded or barred for reasons of not meeting qualifying standards.
A word or term excluded from a word listing or index, notably from a computer-generated concordance in publishing where the exclusion of common words enables time-consuming cross-referencing processes to move faster.
Used in films, TV programs, etc., drawings or photographs which are illustrations of the scenes which are to be shot.
When a business or individual orders the same goods, in the same quantity from the same supplier.
A subheading in a newspaper or magazine. A slogan attached to a well known brand.
An industry which is considered essential to the economy of a region or country.
The process of predicting and assessing a company’s opportunities and difficulties, and making decisions so the company can achieve its objectives and gain a competitive advantage.
The term refers to a situation where something becomes hugely publicized as a result of attempts to keep it private, banned, censored or forbidden. The expression derives from a 2003 legal case brought by entertainer Barbra Streisand to remove an online image of her house in Malibu, California, published innocently in a collection of 12,200 photographs by photographer Kenneth Adelman and Pictopia.com, as part of a California State-approved project to record California coast/erosion. The photograph in question, although tagged as ‘Streisand Estate’ was not visible to search engines as such, and featured several other properties. Streisand’s house accounted for 3% of the image. It was not taken with a high definition lens so no great detail could be discerned. Prior to the case the image (‘3850’) had been viewed six times, which we might safely assume to be mostly or all by Babra Streisand and her representatives. After Streisand’s legal action hit the news, image 3850 became extremely famous, was viewed millions of times, and was reproduced widely along with extensive personal details about Barbra Streisand. Later in 2003 the court ruled against and awarded defence costs against Streisand. Integral to the Streisand Effect is embarrassment and loss of reputation for the suppressor. Examples of the Streisand Effect have become far more common in the age of the internet and social media, which together can generate public awareness and keen interest on a global scale in a matter of hours. There are some pre-internet examples of censorship/banning orders fuelling massive publicity and demand, which retrospectively deserve the Streisand Effect term, including several pop music recordings banned by authorities (Frankie Goes To Hollywood’s Relax, for example), and banned books (DH Lawrence’s Lady Chatterley’s Lover, for example). More recent examples from the internet age include many private injunctions attempted by celebrities attempting to suppress embarrassing news stories, which propel the ‘secret’ stories onto newspaper front pages very quickly indeed, and go completely wild on the web. Politics, unsurprisingly is full of examples of the Streisand Effect, notably events such US/UK attempts to suppress Edward Snowden’s 2013 leaks about US/UK state surveillance; BBC suppression/denial in 2012 of the Saville child abuse scandal story; and the exposure of J K Rowling as the author behind pseudonym Robert Galbraith’s book The Cuckoo’s Calling. The term Streisand Effect is said to have been coined and initially popularized by Mike Masnick of Techdirt in January 2005.
Area of study and corporate/employer responsibility relating to workers’ health, well-being, productivity. See stress management.
A person who seems to thrive on stress, but is always complaining about it.
A work stoppage caused by a disagreement between employees and management over working conditions, pay etc.
A person who continues to work, or is employed to work, during a strike.
A professional who researches, plans and designs structures, such as buildings, bridges, etc.
To hire someone to carry out some of the work that you have been contracted to do.
Term used when a legal case is currently under trial or is being considered by a judge, and any information about the case must not be disclosed to the public.
Someone who is lower in rank than another person, and is subject to the authority of a manager, etc. Less important.
An illegal form of advertising. An image which is flashed onto a screen, usually for about one second, or a message played at low volume, that can influence the person watching or listening but they are not aware of what they have seen and/or heard.
An official summons which requires a witness to attend a court case and testify at a specific time and place. Failure to do so may result in them being punished for contempt of court.
The right of an insurer, who has paid out a claim to an injured party, to sue the person, company, etc., who caused the injury.
The process of identifying suitable employees who can be trained and prepared to replace senior staff when their positions become vacant.
An official document which orders a person to appear in court to answer a complaint against them.
A company’s past expenditures which cannot be recovered, and should not be taken into account when planning future projects.
Also called Sunset Clause. A provision which states that a particular law or regulation will expire on a certain date unless further action is taken to extend it.
A pension, for which regular sums are deducted from a person’s salary while they are working, which is paid by an employer when the person retires from their job.
Also called Surtax. An additional tax on something already taxed, e.g. an income above a certain level.
Supply And Demand
Supply is the amount of a product or service which is available, and demand is the amount which people wish to buy. When demand is higher than supply prices usually rise, when demand is less than supply prices usually fall.
A chain through which a product passes from raw materials to manufacturing, distribution, retailing, etc., until it reaches the end consumer.
Mail which is transported over land or sea, not by air.
Term used to describe a person’s investment in a project, etc., by the contribution of their time and effort, rather than their money.
A place, often a clothing factory, where people work long hours in poor conditions for low wages.
An agreement or contract which offers very favourable deals to one or both parties, but is often not in the best interest of others, such as shareholders.
Society for Worldwide Interbank Financial Telecommunication. Founded in Brussels in 1973, a system for transmitting payments, share transactions and other financial messages safely between financial institutions all over the world.
A servile person or follower, not necessarily of low rank, who tries to please a (more) powerful or influential person by using flattery, and often by informing on others, from which the word is derived in its original Greek meaning (sykophantes is ancient Greek for informer).
A meeting or conference at which experts discuss a particular topic, often with audience participation.
The working together of two or more individuals, groups, companies, etc., to produce a greater effect than working individually.
A church council or leadership assembly of clergy, also possibly including the laity (‘lay-ity’, meaning lay or non-professional members). The term ‘The Synod’ typically applies to the most senior council of a church, or less definitively may refer to a local diocese or church division. In English prior to 1121 (Chambers says) the word was ‘synoth’, and derives from Greek via Latin, synodos and synodus meaning a meeting or assembly, or conjunction of the planets, from Greek syn, together, and hodos, way.