Dictionary of Business

DICTIONARY OF
BUSINESS
FOURTH EDITION
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DICTIONARY OF
BUSINESS
FOURTH EDITION
P.H. Collin
A & C Black 폷 London

www.acblack.com
Originally published by Peter Collin Publishing
First published 1985

as English Business Dictionary
Second edition published 1994
reprinted 1995, 1997, 1999
Third edition published 2001
reprinted twice 2001
Fourth edition published 2004
reprinted 2006
A & C Black Publishers Ltd

38 Soho Square, London W1D 3HB
Copyright © P.H. Collin, F. Collin & S.M.H. Collin 1985, 1994, 2001
© Bloomsbury Publishing Plc 2004
© A & C Black Publishers Ltd 2006
All rights reserved. No part of this publication may

be reproduced in any form or by any means without the
prior written permission of the publishers.
A CIP record for this book is available from the British Library
eISBN-13: 978-1-4081-0224-4
Text production and proofreading

Katy McAdam, Joel Adams, Sarah Lusznat, Emma Harris
A & C Black uses paper produced with elemental chlorine-free pulp,

harvested from managed sustainable forests.
Text processing and computer typesetting by A & C Black

Printed and bound in Italy by Legoprint
Preface
This dictionary provides the user with the basic vocabulary used in business
in both British and American English. The dictionary contains words and
phrases which cover all aspects of business life from the office to the Stock
Exchange and international trade fairs.
It is designed for anyone who needs to check the meaning or pronunciation of

a business term, but especially for those for whom English is an additional
language. Each entry is explained in clear straightforward English and
examples are given to show how the words are used in normal contexts.
Because English is a world language of business, short quotations are
included from international newspapers.
Pronunciations, irregular plurals and verb forms, constructions used with

particular words, differences between American and British usage, and other
useful points are included. At the back of the book, the user will find
supplements giving useful information about numbers (how to speak and
write them), telephoning, and writing business letters, together with a list of
world currencies, weights and measures, and local times around the world.
Thanks are due to Steven Gregory for his helpful comments and advice on
this fourth edition of the dictionary.
Pronunciation
The following symbols have been used to show the pronunciation of the main
words in the dictionary.
Stress is indicated by a main stress mark ( ) and a secondary stress mark ( ) .

Note that these are only guides, as the stress of the word changes according to its
position in the sentence.
Vowels Consonants
back b buck
ɑ harm d dead
ɒ stop ð other
a type d jump
aυ how f fare
aə hire gold
aυə hour h head
ɔ course j yellow
ɔ annoy k cab
e head l leave
eə fair m mix
e make n nil
eυ go ŋ sing
word p print
i keep r rest
i happy s save
ə about ʃ shop
 fit t take
ə near tʃ change
u annual θ theft
u pool v value
υ book w work
υə tour x loch
' shut measure
z zone
Business.fm Page 1 Thursday, April 8, 2004 3:51 PM
A
A /e/, AA, AAA noun letters that show above the line /əbv ðə lan/ adjec-
A above the line
how reliable a particular share, bond or tive, adverb 1. used to describe entries in
company is considered to be 쑗 These a company’s profit and loss accounts that
bonds have a AAA rating. appear above the line separating entries
‘…the rating concern lowered its rating to showing the origin of the funds that have
single-A from double-A, and its senior contributed to the profit or loss from those
debt rating to triple-B from single-A’ that relate to its distribution. Exceptional
[Wall Street Journal] and extraordinary items appear above the
COMMENT: The AAA rating is given by
Standard & Poor’s or by Moody’s, and in- line. 쑗 Exceptional items are noted above
dicates a very high level of reliability for the line in company accounts. 쒁 below
a corporate or municipal bond in the US. the line 2. relating to revenue items in a
A1 /e wɒn/ adjective 1. in very good government budget 3. relating to advertis-
A1
condition 쑗 We sell only goods in A1 con- ing for which payment is made (such as
dition. 2. 왍 ship which is A1 at Lloyd’s an ad in a magazine or a stand at a trade
a ship which is in the best possible condi- fair) and for which a commission is paid
tion according to Lloyd’s Register to an advertising agency. Compare below
abandon /əbndən/ verb 1. to give up the line
abandon
or not continue doing something 쑗 We above-the-line advertising /əbv

above-the-line advertising
abandoned the idea of setting up a New ðə lan dvətazŋ/ noun advertising

York office. 쑗 The development pro- for which a payment is made and for
gramme had to be abandoned when the which a commission is paid to the adver-
company ran out of cash. 왍 to abandon tising agency, e.g. an advertisement in a
an action to give up a court case 2. to magazine or a stand at a trade fair. Com-
leave something 쑗 The crew abandoned pare below-the-line advertising (NOTE:
the sinking ship. as opposed to direct marketing)
abandonment /əbndənmənt/ noun
abandonment
abroad /əbrɔd/ adverb to or in another

abroad
|
an act of giving up voluntarily something |
that you own, such as an option or the country 쑗 The consignment of cars was
right to a property 왍 abandonment of a shipped abroad last week. 쑗 The chair-
ship giving up a ship and cargo to the un- man is abroad on business. 쑗 He worked
derwriters against payment for total loss abroad for ten years. 쑗 Half of our profit
comes from sales abroad.
abatement /əbetmənt/ noun an act
abatement
absence /bsəns/ noun the fact of not

absence
of reducing
abbreviated accounts /əbrivietd
abbreviated accounts
|
being at work or at a meeting 왍 in the ab-
əkaυnts/ noun a shortened version of a
|
sence of when someone is not there 쑗 In
company’s annual accounts that a small the absence of the chairman, his deputy
or medium sized company can file with took the chair.
absent /bsənt/ adjective not at work
absent
the Registrar of Companies, instead of a

full version or not at a meeting 쑗 He was absent ow-
above par /əbv pɑ/ adjective refer- ing to illness. 쑗 Ten of the workers are ab-
above par
ring to a share with a market price higher sent with flu. 쑗 The chairman is absent in
than its par value Holland on business.
absentee 2
absentee /bsənti/ noun a person ACAS /eks/ abbr Advisory, Concili-
absentee ACAS
who is absent or an employee who stays ation and Arbitration Service

away from work for no good reason accelerate /əkseləret/ verb to make
accelerate
absenteeism /bs(ə)ntiz(ə)m/
absenteeism
| something go faster
noun the practice of staying away from acceleration clause /əkseləreʃən
acceleration clause
| |
work for no good reason 쑗 Low produc- klɔz/ noun US a clause in a contract
tivity is largely due to the high level of ab- providing for immediate payment of the
senteeism. 쑗 Absenteeism is high in the total balance if there is a breach of con-
week before Christmas. tract
‘…but the reforms still hadn’t fundamen-
accept /əksept/ verb 1. to take some-
accept
tally changed conditions on the shop floor: |
absenteeism was as high as 20% on some thing which is being offered 왍 to accept
days’ [Business Week] delivery of a shipment to take goods into
absenteeism rate /bsəntiz(ə)m
absenteeism rate
|
the warehouse officially when they are
ret/ noun the percentage of the work- delivered 2. to say ‘yes’ or to agree to
force which is away from work with no something 쑗 She accepted the offer of a
good excuse 쑗 The rate of absenteeism or job in Australia. 쑗 He accepted £2000 in
the absenteeism rate always increases in lieu of notice.
acceptable /əkseptəb(ə)l/ adjective
acceptable
fine weather. |
absolute /bsəlut/ adjective com-

absolute
easily accepted 쑗 Both parties found the
plete or total offer acceptable. 쑗 The terms of the con-
tract of employment are not acceptable to
absorb /əbzɔb/ verb to take in a small
absorb
the candidate.
item so that it forms part of a larger one 왍
acceptance /əkseptəns/ noun 1. the
acceptance
to absorb overheads to include a propor- |
tion of overhead costs into a production act of signing a bill of exchange to show
cost (this is done at a certain rate, called that you agree to pay it 왍 to present a bill
the ‘absorption rate’) 왍 overheads have for acceptance to present a bill for pay-
absorbed all our profits all our profits ment by the person who has accepted it 2.
have gone in paying overhead expenses 왍 왍 acceptance of an offer the act of agree-
to absorb a loss by a subsidiary to ining to an offer 왍 to give an offer a condi-
clude a subsidiary company’s loss in the tional acceptance to accept an offer pro-
group accounts 왍 a business which has vided that specific things happen or that
been absorbed by a competitor a small specific terms apply 왍 we have their let-
business which has been made part of a ter of acceptance we have received a let-
larger one ter from them accepting the offer
absorption /əbzɔpʃən/ noun the
acceptance against documents
absorption
|
acceptance against documents
process of making a smaller business part /əkseptəns ə!enst dɒkjυmənts/ noun
|
of a larger one, so that the smaller compa- a transaction where the seller takes charge
ny in effect no longer exists of the shipping documents for a consign-
absorption costing /əbzɔpʃən
absorption costing
|
ment of goods when a buyer accepts a bill
kɒstŋ/ noun a form of costing for a of exchange 쑗 Acceptance against docu-
product that includes both the direct costs ments protects the seller when sending
of production and the indirect overhead goods which are not yet paid for.
acceptance bank /əkseptəns bŋk/
acceptance bank
costs as well |
absorption rate /əbzɔpʃən ret/

absorption rate
|
noun US same as accepting house
acceptance house /əkseptəns
acceptance house
noun a rate at which overhead costs are |
absorbed into each unit of production haυs/ noun same as accepting house
abstract /bstrkt/ noun a short form acceptance sampling /əkseptəns
abstract acceptance sampling
of a report or document 쑗 to make an ab- sɑmplŋ/ noun the process of testing a

stract of the company accounts small sample of a batch to see if the whole
abstract of title /bstrkt əv batch is good enough to be accepted
abstract of title
tat(ə)l/ noun a summary of the details accepting house /əkseptŋ haυs/

accepting house
of the ownership of a property which has noun a firm, usually a merchant bank,
not been registered which accepts bills of exchange at a dis-
a/c, acc abbr account
a/c
count, in return for immediate payment to

3 account
the issuer, in this case the Bank of Eng- accompanied by the finance director. 쑗
land They sent a formal letter of complaint, ac-
Accepting Houses Committee /ək companied by an invoice for damage.
Accepting Houses Committee
septŋ haυzz kəmti/ noun the main |

(NOTE: accompanied by something)
London merchant banks, which organise accordance /əkɔd(ə)ns/ noun 왍 in
accordance
the lending of money with the Bank of accordance with in agreement or con-
England. They receive slightly better dis- formity with, as a result of what someone
count rates from the Bank. has said should be done 쑗 In accordance
access /kses/ noun 왍 to have access with your instructions we have deposited
access
to something to be able to obtain or reach the money in your current account. 쑗 I am

something 쑗 She has access to large submitting the claim for damages in ac-
amounts of venture capital. 쐽 verb to call cordance with the advice of our legal ad-
up data which is stored in a computer 쑗 visers.
She accessed the address file on the com- accordingly /əkɔdŋli/ adverb in
accordingly
puter. agreement with what has been decided 쑗

accession /əkseʃ(ə)n/ noun the act of
accession
| We have received your letter and have al-

joining an organisation tered the contract accordingly.
access time /kses tam/ noun the according to /əkɔdŋ tu/ preposi-
access time according to
time taken by a computer to find data tion 1. in accordance with 쑗 The compu-
stored in it ter was installed according to the manu-
accident /ksd(ə)nt/ noun some- facturer’s instructions. 2. as stated or
accident
thing unpleasant which can be caused by shown by someone

carelessness or which happens by chance ‘…the budget targets for employment and
such as a plane crash growth are within reach according to the
accident insurance /ksd(ə)nt n latest figures’ [Australian Financial Re-
accident insurance
ʃυərəns/ noun insurance which will pay view]

account /əkaυnt/ noun 1. a record of
account
the insured person when an accident takes |
place financial transactions over a period of

accident policy /ksd(ə)nt pɒlsi/
accident policy
time, such as money paid, received, bor-
noun an insurance contract which pro- rowed or owed 쑗 Please send me your ac-
vides a person with accident insurance count or a detailed or an itemised ac-
accommodation /əkɒmədeʃ(ə)n/
accommodation
count. 2. (in a shop) an arrangement
which a customer has to buy goods and
| |
noun 1. money lent for a short time 2. 왍

pay for them at a later date, usually the
to reach an accommodation with credi-
end of the month 쑗 to have an account or
tors to agree terms for settlement with a charge account or a credit account with
creditors 3. a place to stay temporarily or
Harrods 쑗 Put it on my account or charge
live in 쑗 Visitors have difficulty in finding it to my account. 쑗 They are one of our
hotel accommodation during the summer.
largest accounts. 왍 to open an account
‘…any non-resident private landlord can (of a customer) to ask a shop to supply
let furnished or unfurnished accommoda-
tion to a tenant’ [Times]
goods which you will pay for at a later
date 왍 to open an account, to close an
‘…the airline providing roomy accommo- account (of a shop) to start or to stop sup-
dations at below-average fares’ [Dun’s plying a customer on credit 왍 to settle an
Business Month]
account to pay all the money owed on an
accommodation address /əkɒmə
accommodation address
| |
account 왍 to stop an account to stop sup-
deʃ(ə)n ədres/ noun an address used
|
plying a customer until payment has been
for receiving messages, but which is not made for goods supplied 3. 왍 on account
the real address of the company as part of a total bill 왍 to pay money on
accommodation bill /əkɒmə account to pay to settle part of a bill 왍 ad-
accommodation bill
| |
deʃ(ə)n bl/ noun a bill of exchange vance on account money paid as a part
where the person signing (the ‘drawee’) is payment 4. a customer who does a large
helping another company (the ‘drawer’) amount of business with a firm and has an
to raise a loan account with it 쑗 Smith Brothers is one of
accompany /əkmp(ə)ni/ verb to go our largest accounts. 쑗 Our sales people
accompany
with 쑗 The chairman came to the meeting call on their best accounts twice a month.
accountability 4
5. 왍 to keep the accounts to write each account day / əkaυnt de/ noun a day
account day
sum of money in the account book 쑗 The on which shares which have been bought
bookkeeper’s job is to enter all the money must be paid for, usually a Monday ten
received in the accounts. 왍 profit and days after the end of an account. Also
loss account (P&L account) statement called settlement day
of company expenditure and income over account end /əkaυnt end/ noun the
account end
a period of time, almost always one calen- end of an accounting period

dar year, showing whether the company
account executive /əkaυnt !
account executive
has made a profit or loss (the balance | |
sheet shows the state of a company’s fi- zekjυtv/ noun an employee who looks
nances at a certain date; the profit and loss after customers or who is the link between
account shows the movements which customers and the company
accounting /əkaυntŋ/ noun 1. the
accounting
have taken place since the last balance |
sheet) 6. 왍 overdrawn account an ac- work of recording money paid, received,

count where you have taken out more borrowed or owed 쑗 accounting methods
money than you have put in, i.e. the bank 쑗 accounting procedures 쑗 an account-
is effectively lending you money 왍 to ing machine 2. accountancy, the work of
open an account to start an account by an accountant as a course of study
putting money in 쑗 She opened an ac- ‘…applicants will be professionally quali-
count with the Bradford & Bingley Build- fied and have a degree in Commerce or
ing Society. 왍 to close an account to take Accounting’
all money out of a bank account and stop [Australian Financial Review]
accounting period /əkaυntŋ
accounting period
the account 쑗 We closed our account with |
Lloyds. 7. a period during which shares pəriəd/ noun a period of time at the end
are traded for credit, and at the end of of which the firm’s accounts are made up
which the shares bought must be paid for accounts /əkaυnts/ noun detailed
accounts
(NOTE: On the London Stock Exchange, records of a company’s financial affairs

there are twenty-four accounts during accounts department /əkaυnts d
accounts department
| |
the year, each running usually for ten pɑtmənt/ noun a department in a com-
working days.) 8. a notice 왍 to take ac- pany which deals with money paid, re-
count of inflation, to take inflation into ceived, borrowed or owed
account to assume that there will be a
/əkaυnts
accounts manager
specific percentage of inflation when accounts manager |
making calculations 쐽 verb 왍 to account mnd$ə/ noun the manager of an ac-

for to explain and record a money trans- counts department
accounts payable /əkaυnts
accounts payable
action 쑗 to account for a loss or a dis- |
crepancy 쑗 The reps have to account for peəb(ə)l/ noun money owed by a com-
all their expenses to the sales manager. pany
accountability /əkaυntəblti/ noun accounts receivable /əkaυnts r
accounts receivable
accountability
| |
| |
the fact of being responsible to someone sivəb(ə)l/ noun money owed to a com-
for something, e.g. the accountability of pany. Abbreviation AR
directors to the shareholders accounts staff /əkaυntz stɑf/ noun
accounts staff
accountable /əkaυntəb(ə)l/ adjec- people who work in the accounts depart-

accountable
tive referring to a person who has to ex- ment

plain what has taken place or who is re- accreditation /əkredteʃ(ə)n/ noun
accreditation
| |
sponsible for something (NOTE: You are the process of certifying the competence
accountable to someone for some- of a person in a certain area
thing.) accredited /əkredtd/ adjective re-
accredited
accountancy /əkaυntənsi/ noun the

accountancy
| ferring to an agent who is appointed by a

work of an accountant 쑗 They are study- company to act on its behalf
ing accountancy or They are accountancy accrual /əkruəl/ noun 1. the act of
accrual
students. (NOTE: The US term is ac- noting financial transactions when they
counting in this meaning.) take place, and not when payment is made
account book /əkaυnt bυk/ noun a 2. a gradual increase by addition 왍 accru-
account book
book with printed columns which is used al of interest the automatic addition of in-
to record sales and purchases terest to capital
5 acquisition rate
accrue /əkru/ verb 1. to record a fi- achieved great success in the Far East. 쑗
accrue
nancial transaction in accounts when it We achieved all our objectives in 2001.

takes place, and not when payment is ‘…the company expects to move to profits
made or received 2. to increase and be due of FFr 2m next year and achieve equally
for payment at a later date 쑗 Interest ac- rapid growth in following years’
crues from the beginning of the month. [Financial Times]
achievement /ətʃivmənt/ noun suc-
achievement
accrued dividend /əkrud dv

accrued dividend
|
| |
dend/ noun a dividend earned since the cess or something that has been achieved
achiever /ətʃivə/ noun a person who
achiever
last dividend was paid |
accrued interest /əkrud ntrəst/

accrued interest
|
is successful or who tends to achieve his
noun interest which has been earned by or her objectives 쑗 It was her reputation
an interest-bearing investment 쑗 Accrued as a high achiever that made us think of
interest is added quarterly. headhunting her. 쒁 VALS
acid test ratio /sd test reʃəυ/
acid test ratio
accrued liabilities /əkrud laə

accrued liabilities
| |
bltiz/ noun liabilities which are record- noun same as liquidity ratio
acknowledge /əknɒld$/ verb to tell a
acknowledge
ed in an accounting period, although pay- |
ment has not yet been made. This refers to sender that a letter, package or shipment
liabilities such as rent, electricity, etc. has arrived 쑗 He has still not acknowl-
acct
acct abbr account edged my letter of the 24th. 쑗 We ac-

knowledge receipt of your letter of June
accumulate /əkjumjυlet/ verb to
accumulate
|
14th.
grow in quantity by being added to, or to acknowledgement /əknɒld$mənt/
acknowledgement
get more of something over a period of noun the act of acknowledging 쑗 She sent
time 쑗 We allow dividends to accumulate an acknowledgement of receipt. 쑗 The
in the fund. company sent a letter of acknowledge-
/ə
accumulated profit
accumulated profit |
ment after I sent in my job application.
kjumjυletd prɒft/ noun a profit acoustic hood /əkustk hυd/ noun
acoustic hood
which is not paid as dividend but is taken a cover which is put over a printer to re-
over into the accounts of the following duce the noise level
year
a/c payee /e siə pei/ words written
a/c payee
/ə
accumulated reserves |
accumulated reserves |
between the two lines on a crossed
kjumjυletd rz&vz/ plural noun re-
|
cheque, to show that it can only be paid
serves which a company has put aside into the account of the person whose
over a period of years name is written on the cheque (all
accumulation unit /əkjumjυ
accumulation unit
| | cheques have this printed on them)

leʃ(ə)n junt/ noun a type of unit in a acquire /əkwaə/ verb to buy 쑗 to ac-
acquire
unit trust, which produces dividends quire a company 쑗 We have acquired a

which are used to form more units (as op- new office building in the centre of town.
posed to an income unit, which produces acquirer /əkwaərə/ noun a person or
acquirer
dividends which the investor receives as company which buys something

income)
acquisition /kwzʃ(ə)n/ noun 1.
acquisition
accurate /kjυrət/ adjective correct

accurate |
something bought 쑗 The chocolate facto-

쑗 The sales department made an accurate ry is our latest acquisition. 2. the takeover
forecast of sales. 쑗 The designers proof a company. The results and cash flows
duced an accurate copy of the plan. of the acquired company are brought into
accuse /əkjuz/ verb to say that some-
accuse
| the group accounts only from the date of

one has committed a crime 쑗 She was ac- acquisition: the figures for the previous
cused of stealing from the petty cash box. period for the reporting entity should not
쑗 He was accused of industrial espio- be adjusted. The difference between the
nage. (NOTE: You accuse someone of a fair value of the net identifiable assets ac-
crime or of doing something.) quired and the fair value of the purchase
achieve /ətʃiv/ verb to succeed in do- consideration is goodwill. 3. the act of
achieve
ing something, to do something success- getting or buying something

fully 쑗 He has achieved his long-term acquisition rate /kwzʃ(ə)n ret/
acquisition rate
training objectives. 쑗 The company has noun a figure that indicates how much
acre 6
new business is being won by a compa- that is designed to increase the motivation
ny’s marketing activities for action by presenting only a limited
acre /ekə/ noun a measure of the area range of alternatives and stressing only
acre
of land (= 0.45 hectares) (NOTE: The plu- the positive outcomes

active /ktv/ adjective involving
active
ral is used with figures, except before a

noun: he has bought a farm of 250 many transactions or activities 쑗 an ac-
acres, he has bought a 250 acre farm.) tive demand for oil shares 쑗 an active day
across-the-board /əkrɒs ðə bɔd/
across-the-board
|
on the Stock Exchange 쑗 Computer
adjective applying to everything or every- shares are very active.
active partner /ktv pɑtnə/ noun
active partner
one 쑗 an across-the-board price increase

or wage increase a partner who works in a company that is
act / kt/ noun a law passed by parlia-
act
a partnership
activity /ktvti/ noun something
activity
ment which must be obeyed by the people |
쐽 verb to do something 쑗 The board will which is done 쑗 out-of-work activities

have to act quickly if the company’s losses ‘…preliminary indications of the level of
are going to be reduced. 왍 to act on business investment and activity during
something to do what you have been the March quarter will provide a good pic-
asked to do by someone 쑗 to act on a let- ture of economic activity in the year’
ter 쑗 The lawyers are acting on our in- [Australian Financial Review]
activity chart /ktvti tʃɑt/ noun a
activity chart
structions. |
ACT plan showing work which has been done,

ACT abbr Advance Corporation Tax made so that it can be compared to a pre-
acting /ktŋ/ adjective working in
acting
vious plan showing how much work

place of someone for a short time 쑗 act- should be done
ing manager 쑗 the Acting Chairman act of God /kt əv !ɒd/ noun some-
act of God
action /kʃən/ noun 1. a thing which

action
thing you do not expect to happen and

has been done 왍 to take action to do which cannot be avoided, e.g. a storm or a
something 쑗 You must take action if you flood (NOTE: Acts of God are not usually
want to stop people cheating you. 쑗 You covered by insurance policies.)
must take action if you want to improve ACTU abbr Australian Council of Trade
ACTU
productivity. 2. 왍 to take industrial ac- Unions

tion to do something (usually to go on actuals /ktʃuəlz/ plural noun real
actuals
strike) to show that you are not happy figures 쑗 These figures are the actuals for
with conditions at work 3. a case in a law last year.
court where a person or company sues an-
actuarial /ktʃueəriəl/ adjective cal-
actuarial
other person or company 왍 to take legal |
action to sue someone 쑗 an action for li- culated by an actuary 쑗 The premiums are
bel or a libel action 쑗 an action for dam- worked out according to actuarial calcu-
ages 쑗 She brought an action for wrong- lations.
actuarial tables /ktʃueəriəl
actuarial tables
ful dismissal against her former employ-

er. teb(ə)lz/ noun lists showing how long
action-centred leadership /kʃən
action-centred leadership
people are likely to live, used to calculate
sentəd lidəʃp/ noun a theory of lead- life assurance premiums and annuities
actuary /ktʃuəri/ noun a person em-
actuary
ership which focuses on what leaders ac-

tually have to do in order to be effective, ployed by an insurance company or other
rather than on the personal qualities that organisation to calculate the risk involved
they need to be good leaders, and which in an insurance, and therefore the premi-
believes that leadership can be taught ums payable by people taking out insur-
(NOTE: Action-centred leadership is usu- ance
ACU abbr Asian Currency Unit
ACU
ally illustrated by three overlapping cir-

cles, which represent the three key ac- ad /d/ noun same as advertisement
ad
tivities undertaken by leaders: achieving (informal) 쑗 We put an ad in the paper. 쑗

the task, building and maintaining the She answered an ad in the paper. 쑗 He
team and developing the individual.) found his job through an ad in the paper.
action rationality /'ʃ(ə)n rʃ(ə)n add /d/ verb to put figures together to
action rationality add
lti/ noun a decision-making model make a total 쑗 If you add the interest to
7 adjust
the capital you will get quite a large sum. such a way that names, addresses and
쑗 Interest is added monthly. phone numbers can be entered
add up phrasal verb 1. to put several addressee /dresi/ noun a person to
addressee
figures together to make a total 쑗 He whom a letter or package is addressed

made a mistake in adding up the column address list /ədres lst/ noun a list of
address list
of figures. 왍 the figures do not add up

|
names and addresses of people and com-

the total given is not correct 2. to make panies
sense 쑗 The complaints in the letter just
adequate /dkwət/ adjective more
adequate
do not add up.

or less satisfactory 쑗 The results of the
add up to phrasal verb to make a total
of 쑗 The total expenditure adds up to tests on the product were adequate.
ad hoc decision /d hɒk ds$(ə)n/
ad hoc decision
more than £1,000. |
noun a decision taken to solve a particular

added value / dd vlju/ noun an
added value
problem
amount added to the value of a product or
adhocracy /dhɒkrəsi/ noun a form
adhocracy
service, equal to the difference between |
its cost and the amount received when it is of organisation characterised by a flexi-
sold. Wages, taxes, etc. are deducted from ble, organic structure, often comprising
the added value to give the profit. 쒁 VAT experts attached to project groups without
functional divisions
adding /dŋ / adjective which adds,
adding
adjourn /əd$&n/ verb to stop a meet-

adjourn
which makes additions 쑗 an adding ma- |
chine ing for a period 쑗 The chairman ad-

journed the meeting until three o’clock. 쑗
addition /ədʃ(ə)n/ noun 1. a thing or
addition
|
The meeting adjourned at midday. 왍 ad-
person added 쑗 The management has journ a case sine die to postpone the
stopped all additions to the staff. 쑗 We are hearing of a case without fixing a new
exhibiting several additions to our prod- date for it
uct line. 쑗 The marketing director is the
adjournment /əd$&nmənt/ noun an
adjournment
latest addition to the board. 2. 왍 in addi- |
tion to added to, as well as 쑗 There are act of adjourning 쑗 He proposed the ad-
twelve registered letters to be sent in adjournment of the meeting.
adjudicate /əd$udket/ verb to give
adjudicate
dition to this packet. 3. an arithmetical |
operation consisting of adding together a judgement between two parties in law or

two or more numbers to make a sum 쑗 to decide a legal problem 쑗 to adjudicate
You don’t need a calculator to do simple a claim 쑗 to adjudicate in a dispute 왍 he
addition. was adjudicated bankrupt he was de-
clared legally bankrupt
additional /ədʃ(ə)nəl/ adjective extra
additional
/əd$udkeʃ(ə)n/
|
adjudication
adjudication
which is added 쑗 additional costs 쑗 They | |
sent us a list of additional charges. 쑗 noun the act of giving a judgement or of

Some additional clauses were added to deciding a legal problem
adjudication of bankruptcy /ə
adjudication of bankruptcy
the contract. 쑗 Additional duty will have |
to be paid. d$udkeʃ(ə)n əv bŋkrptsi/ noun

additional premium /ədʃ(ə)nəl
additional premium
|
a legal order making someone bankrupt
primiəm/ noun a payment made to cov- adjudication order /əd$ud
adjudication order
| |
er extra items in an existing insurance keʃ(ə)n ɔdə/ noun an order by a court

address /ədres/ noun the details of
address
making someone bankrupt
adjudication tribunal /əd$ud
|
adjudication tribunal
number, street and town where an office is | |
located or a person lives 쑗 My business keʃ(ə)n trabjun(ə)l/ noun a group

|
address and phone number are printed on which adjudicates in industrial disputes
the card. 쐽 verb to write the details of an adjudicator /əd$udketə/ noun a
adjudicator
address on an envelope or package 쑗 a person who gives a decision on a problem

letter addressed to the managing director 쑗 an adjudicator in an industrial dispute
쑗 an incorrectly addressed package 쑗 adjust /əd$st/ verb to change some-
adjust
Please address your enquiries to the man- thing to fit new conditions 쑗 Prices are
ager. adjusted for inflation.
address book /ədres bυk/ noun a
address book
| ‘…inflation-adjusted GNP moved up at a

special notebook, with columns printed in 1.3% annual rate’ [Fortune]
adjuster 8
‘Saudi Arabia will no longer adjust its pro- administrative / ədmnstrətv/ ad-
administrative
duction to match short-term supply with jective referring to administration 쑗 ad-

demand’ [Economist] ministrative details 쑗 administrative ex-
‘…on a seasonally-adjusted basis, output penses
of trucks, electric power, steel and paper administrator / ədmnstretə/ noun
administrator
decreased’ [Business Week] 1. a person who directs the work of other

adjuster /əd$stə/ noun a person who
adjuster
|
employees in a business 쑗 After several
calculates losses for an insurance compa- years as a college teacher, she hopes to
ny become an administrator. 2. a person ap-
adjustment /əd$stmənt/ noun the
adjustment
|
pointed by a court to manage the affairs of
act of adjusting 쑗 to make an adjustment someone who dies without leaving a will
to salaries 쑗 an adjustment of prices to 3. a person appointed by a court to admin-
take account of rising costs ister a company which is insolvent
adjustor /əd$stə/ noun same as ad- admission /ədmʃ(ə)n/ noun an act of
adjustor
admission
|
|
juster saying that something really happened 쑗

admin /dmn/ noun 1. the work of ad-
admin
He had to resign after his admission that

ministration, especially paperwork he had passed information to the rival
(informal) 쑗 All this admin work takes a company.
lot of my time. 쑗 There is too much admin admission charge /ədmʃ(ə)n
admission charge
in this job. 쑗 Admin costs seem to be ris- tʃɑd$/ noun the price to be paid before
ing each quarter. 쑗 The admin people going into an area or building, e.g. to see
have sent the report back. 2. administra- an exhibition
tion staff or the administration depart- admit /ədmt/ verb to say that some-
admit
ment 쑗 Admin say they need the report thing is correct, to say that something re-
immediately. 쑗 She did not answer my ally happened 쑗 The chairman admitted
note but sent it on to admin. (NOTE: no he had taken the cash from the company’s
plural; as a group of people it can have safe. (NOTE: admitting – admitted)
a plural verb)
admittance /ədmt(ə)ns/ noun the act
admittance
administer /ədmnstə/ verb to or-

administer |
|
of allowing someone to go in 쑗 no admit-
ganise, manage or direct the whole of an tance except on business
organisation or part of one 쑗 She admin-
adopt /ədɒpt/ verb to agree to some-
adopt
isters a large pension fund. 쑗 It will be the |
HR manager’s job to administer the in- thing or to accept something

adoption curve /ədɒpʃən k&v/
adoption curve
duction programme. |
administered price /ədmnstəd

administered price
|
noun a line on a graph showing how many
pras/ noun US a price fixed by a manu- consumers adopt or buy a new product at
facturer which cannot be varied by a re- various time periods after the launch date
쑗 The adoption curve shows that most
tailer (NOTE: The UK term is resale
price maintenance.) people who buy the product do so at a
fairly late stage.
administration /ədmnstreʃ(ə)n/
administration
| |
ADR abbr American Depositary Receipt

ADR
noun 1. the action of organising, control-

ad valorem duty /d vəlɔrəm
ad valorem duty
ling or managing a company 2. a person |
or group of people who manage or direct djuti/ noun the duty calculated on the
an organisation 쑗 It is up to the adminis- sales value of the goods
ad valorem tax /d vəlɔrem tks/
ad valorem tax
tration to solve the problem, not the gov- |
ernment. 3. the running of a company in noun a tax calculated according to the

receivership by an administrator appoint- value of the goods taxed
ed by the courts 4. an appointment by a advance /ədvɑns/ noun 1. money
advance
court of a person to manage the affairs of paid as a loan or as a part of a payment to

a company be made later 쑗 She asked if she could
administration costs /ədmn have a cash advance. 쑗 We paid her an
administration costs
| |
streʃ(ə)n kɒsts/, administration ex- advance on account. 쑗 Can I have an ad-

penses /ədmnstreʃ(ə)n
| k | | vance of £100 against next month’s sala-
spensz/ plural noun the costs of man- ry? 2. an increase 3. 왍 in advance early,
agement, not including production, mar- before something happens 쑗 freight pay-
keting or distribution costs able in advance 쑗 prices fixed in advance
9 advertising agency
쐽 adjective early, or taking place before away from their usual work environment
something else happens 쑗 advance pay- (NOTE: The aim of adventure training is
ment 쑗 Advance holiday bookings are up to develop skills in leadership, problem-
on last year. 쑗 You must give seven days’ solving, decision-making and interper-
advance notice of withdrawals from the sonal communication and to build team
account. 쐽 verb 1. to pay an amount of spirit.)
money to someone as a loan or as a part of adverse /dv&s/ adjective unfavoura-
adverse
a payment to be made later 쑗 The bank ble 왍 adverse balance of trade a situa-
advanced him £100,000 against the secu- tion in which a country imports more than
rity of his house. 2. to increase 쑗 Prices it exports 왍 adverse trading conditions
generally advanced on the stock market. bad conditions for trade
3. to make something happen earlier 쑗 advert /dv&t/ noun same as adver-
advert
The date of the AGM has been advanced tisement (informal ) 쑗 to put an advert in
to May 10th. 쑗 The meeting with the Ger- the paper 쑗 to answer an advert in the pa-
man distributors has been advanced from per 쑗 classified adverts 쑗 display adverts
11.00 to 09.30.
advertise /dvətaz/ verb to arrange
advertise
Advance Corporation Tax /əd

Advance Corporation Tax
|
and pay for publicity designed to help sell
vɑns kɔpəreʃ(ə)n tks/ noun a tax |
products or services or to find new em-
which was abolished in 1999, paid by a ployees 쑗 to advertise a vacancy 쑗 to ad-
company in advance of its main corpora- vertise for a secretary 쑗 to advertise a
tion tax payments. It was paid when divi- new product
dends were paid to shareholders and was
advertisement /ədv&tsmənt/ noun
advertisement
deducted from the main tax payment |
when that fell due. It appeared on the tax a notice which shows that something is
voucher attached to a dividend warrant. for sale, that a service is offered, that
Abbreviation ACT someone wants something or that a job is
advanced manufacturing technology vacant
advanced manufacturing tech- advertisement
advertisement hoarding
hoarding /əd
nology /ədvɑnst mnjυfktʃərŋ
|
| |
v&tsmənt hɔdŋ/ noun a large board

teknɒləd$i/ noun modern computer-
|
for posters
based technology that can be introduced
advertisement manager /əd
advertisement manager
at every stage of the manufacturing proc- |
ess, from design through to assembly, to v&tsmənt mnd$ə/ noun the man-
make production faster and more effi- ager in charge of the advertisement sec-
cient. Abbreviation AMT ( NOTE: Ad- tion of a newspaper
advertisement panel /əd
advertisement panel
vanced manufacturing technology in- |
cludes such things as computer-aided v&tsmənt pn(ə)l/ noun a specially

design, computer-aided engineering, designed large advertising space in a
computer-integrated manufacturing, au- newspaper
tomated materials handling systems, advertiser /dvətazə/ noun a person
advertiser
electronic data interchange and robot- or company that advertises 쑗 The cata-
ics.) logue gives a list of advertisers.
advantage /ədvɑntd$/ noun some- advertising /dvətazŋ/ noun the
advantage advertising
thing useful which may help you to be business of announcing that something is
successful 쑗 Knowledge of two foreign for sale or of trying to persuade customers
languages is an advantage. 쑗 There is no to buy a product or service 쑗 She works in
advantage in arriving at the exhibition advertising or She has a job in advertis-
before it opens. 쑗 Fast typing is an advan- ing. 쑗 Their new advertising campaign is
tage in a secretary. 왍 to take advantage being launched next week. 쑗 The compa-
of something to use something which ny has asked an advertising agent to pre-
helps you pare a presentation. 왍 to take advertis-
training / ədventʃə ing space in a paper to book space for an
adventure training
adventure |
trenŋ/, adventure learning /əd |

advertisement in a newspaper
ventʃə l&nŋ/ noun a type of training advertising agency /dvətazŋ
advertising agency
in which employees engage in group ed$ənsi/ noun an office which plans,

games and physically demanding outdoor designs and manages advertising for other
activities such as climbing and abseiling companies
advertising budget 10
advertising budget /dvətazŋ 쑗 He is consulting the company’s legal
advertising budget
bd$t/ noun money planned for spend- adviser.

ing on advertising 쑗 Our advertising advisory / ədvaz(ə)ri/ adjective as an
advisory
budget has been increased. adviser 쑗 She is acting in an advisory ca-

advertising campaign /dvətazŋ pacity.
advertising campaign
kmpen/ noun a co-ordinated publicity Advisory, Conciliation and Arbi-

Advisory, Conciliation and Arbitration Service
or advertising drive to sell a product tration Service /ədvaz(ə)ri kənsli | |
advertising jingle /dvətazŋ

advertising jingle
eʃ(ə)n ənd ɑbtreʃ(ə)n s&vs/ |
d$ŋ!(ə)l/ noun a short and easily re- noun a British government service which
membered tune or song to advertise a arbitrates in disputes between manage-
product on television, etc. ment and employees. Abbreviation
ACAS
advertising manager /dvətazŋ
advertising manager
advisory board /ədvaz(ə)ri bɔd/

advisory board
mnd$ə/ noun the manager in charge |
of advertising a company’s products noun a group of advisors

affair /əfeə/ noun business or dealings
affair
advertising medium /dvətazŋ

advertising medium
|
쑗 Are you involved in the copyright af-

midiəm/ noun a type of advertisement, fair? 쑗 His affairs were so difficult to un-
e.g. a TV commercial 쑗 The product was
advertised through the medium of the derstand that the lawyers had to ask ac-
trade press. (NOTE: The plural for this countants for advice.
affect /əfekt/ verb to cause some
affect
meaning is media.) |
change in something, especially to have a

advertising rates /dvətazŋ
advertising rates
bad effect on something 쑗 The new gov-

rets/ noun the amount of money charged ernment regulations do not affect us.
for advertising space in a newspaper or
affidavit /fdevt/ noun a written
affidavit
advertising time on TV |
statement which is signed and sworn be-

advertising space /dvətazŋ
advertising space
fore a solicitor, judge, JP, etc., and which

spes/ noun a space in a newspaper set can then be used as evidence in court
aside for advertisements affiliate /əfliet/ noun a company
affiliate
advertorial /dvə tɔriəl/ noun text

|
advertorial
|
which partly owns another company, or is
in a magazine which is not written by the partly owned by the same holding compa-
editorial staff but by an advertiser ny as another
advice /ədvas/ noun 1. a notification affiliated /əfletd/ adjective con-
advice
affiliated
|
|
telling someone what has happened 2. an nected with or owned by another compa-
opinion as to what action to take 쑗 The ny 쑗 Smiths Ltd is one of our affiliated
accountant’s advice was to send the doc- companies.
uments to the police. 왍 to take legal ad- affiliate programme
affiliate programme
/əfliət |
vice to ask a lawyer to say what should be prəυ!rm/ noun an arrangement under
done 앳 as per advice according to what which the owners of websites agree to
is written on the advice note display banners and buttons advertising
advice note /ədvas nəυt/ noun the
advice note
| another company’s products or services

written notice to a customer giving details on their websites in return for a commis-
of goods ordered and shipped but not yet sion on any purchases from the advertiser
delivered. Also called letter of advice made by their customers
advise /ədvaz/ verb 1. to tell someone affinity card /əfnti kɑd/ noun a
advise affinity card
| |
what has happened 쑗 We have been ad- credit card where a percentage of each
vised that the shipment will arrive next purchase made is given by the credit card
week. 2. to suggest to someone what company to a stated charity
should be done 쑗 The lawyer advised us affirmative /əf&mətv/ adjective
affirmative
to send the documents to the police. meaning ‘yes’ 왍 the answer was in the
advise against phrasal verb to sug- affirmative the answer was yes
gest that something should not be done affirmative
affirmative action
action /əf&mətv |
쑗 The HR manager advised against dis- kʃən/ noun US the practice of provid-
missing the staff without notice. ing opportunities for disadvantaged
adviser /ədvazə/, advisor noun a
adviser
| groups such as ethnic minorities, women

person who suggests what should be done or people with disabilities
11 aggregate demand
affluence /fluəns/ noun wealth and a age discrimination /ed$ dskrm
affluence age discrimination
high standard of living neʃ(ə)n/ noun unfair treatment result-

affluent society /fluənt səsaəti/ ing from prejudice against a person on the
affluent society
noun a type of society where most people grounds of their age (NOTE: Countries
are rich such as Australia and the United States
afford /əfɔd/ verb to be able to pay for
afford
|
have passed laws to make age discrim-
or buy something 쑗 We could not afford ination illegal)
ageism /ed$z(ə)m/ noun unfair dis-
ageism
the cost of two telephones. 쑗 The compa-

ny cannot afford the time to train new crimination against older people
staff. (NOTE: Only used after can, can- age limit /ed$ lmt/ noun the top age
age limit
not, could, could not, able to) at which you are allowed to do a job 쑗
AFL-CIO noun an organisation linking
AFL-CIO
There is an age limit of thirty-five on the

US trade unions. Full form American post of buyer.
Federation of Labor – Congress of In- agency /ed$ənsi/ noun 1. an office or
agency
dustrial Organisations job of representing another company in

after-hours buying /ɑftə aυəz/, af- an area 쑗 They signed an agency agree-
after-hours buying
ter-hours selling, after-hours dealing ment or an agency contract. 2. an office or

noun the activity of buying, selling or business which arranges things for other
dealing in shares after the Stock Ex- companies
change has officially closed for the day, agency labour /ed$ənsi lebə/
agency labour
such deals being subject to normal Stock noun staff supplied by an employment
Exchange rules. In this way, dealers can agency
take advantage of the fact that because of agenda /əd$endə/ noun a list of things
agenda
time differences, the various stock ex- to be discussed at a meeting 쑗 The confer-
changes around the world are open almost ence agenda or the agenda of 쑗 After two
all twenty-four hours of the day. hours we were still discussing the first
after-hours trading /ɑftə aυəz
after-hours trading
item on the agenda. 쑗 We usually put fi-

tredŋ/ noun trading after the Stock Ex- nance at the top of the agenda. 쑗 The
change had closed chair wants two items removed from or
after-sales service /ɑftə selz taken off the agenda.
after-sales service
s&vs/ noun a service of a machine car- agent /ed$ənt/ noun 1. a person who
agent
ried out by the seller for some time after represents a company or another person
the machine has been bought in an area 쑗 to be the agent for BMW cars
after-tax profit /ɑftə tks prɒft/ 쑗 to be the agent for IBM 2. a person in
after-tax profit
noun a profit after tax has been deducted charge of an agency 쑗 an advertising
against /ə!enst/ preposition 1. in view
against
|
agent 쑗 The estate agent sent me a list of
of the fact that something else is owed or properties for sale. 쑗 Our trip was organ-
has been pledged 쑗 Can I have an ad- ised through our local travel agent. 3. 왍
vance against next month’s salary? 쑗 The (business) agent US the chief local offi-
bank advanced him £10,000 against the cial of a trade union 쑗 Management
security of his house. 2. compared with would only discuss the new payment
‘…investment can be written off against scheme with agents officially representing
the marginal rate of tax’ [Investors Chron- the workers.
agent’s commission /ed$ənts kə
agent’s commission
icle] |
aged debtors analysis /ed$d

aged debtors analysis
mʃ(ə)n/ noun money, often a percent-
detəz ənləss/, ageing schedule
|
age of sales, paid to an agent
/ed$ŋ ʃedjul/ noun a list which anal- aggregate /!r!ət/ adjective total,
aggregate
yses a company’s debtors, showing the with everything added together 쑗 aggre-
number of days their payments are out- gate output
standing aggregate demand /!r!ət d
aggregate demand
COMMENT: An ageing schedule shows all mɑnd/ noun the total demand for goods
the debtors of a company and lists (usu- and services from all sectors of the econ-
ally in descending order of age) all the
debts that are outstanding. The debtors omy including individuals, companies
will be shown as: £X at 30 days, £Y at 60 and the government 쑗 Economists are
days, £Z at 90 days, etc. studying the recent fall in aggregate de-
aggregate supply 12
mand. 쑗 As incomes have risen, so has agreed price /ə!rid pras/ noun a
agreed price
aggregate demand. price which has been accepted by both the

aggregate supply /!r!ət səpla/ buyer and seller
aggregate supply
agreed takeover bid /ə!rid

agreed takeover bid
noun all goods and services on the market |
쑗 Is aggregate supply meeting aggregate tekəυvə bd/ noun a takeover bid

demand? which is accepted by the target company
aggregator /!r!etə/ noun an or-
aggregator
and recommended by its directors to its
ganisation that acts as a link between pro- shareholders
agreement /ə!rimənt/ noun a spo-
agreement
ducers and customers in business dealings |
over the Internet. The aggregator selects ken or written contract between people or
products for sale over the Internet, sets groups which explains how they will act
prices, and ensures that orders are ful- 쑗 a written agreement 쑗 an unwritten or
filled. verbal agreement 쑗 to draw up or to draft
an agreement 쑗 to break an agreement 쑗
agio /d$əυ/ noun 1. a charge made
agio
to sign an agreement 쑗 to reach an agree-

for changing money of one currency into ment or to come to an agreement on some-
another, or for changing banknotes into thing 쑗 a collective wage agreement
cash 2. the difference between two val-
ues, such as between the interest charged ‘…after three days of tough negotiations
the company has reached agreement with
on loans made by a bank and the interest its 1,200 unionized workers’ [Toronto
paid by the bank on deposits, or the differ- Star]
ence between the values of two currencies
agricultural co-operative /!r
agricultural co-operative
|
AGM
AGM abbr Annual General Meeting kltʃ(ə)rəl kəυ ɒpərətv/ noun a farm
agora /!ərə/ noun a marketplace on run by groups of workers who are the
agora
the Internet owners and share the profits

agricultural economist /!r
agricultural economist
agree /ə!ri/ verb 1. to decide and ap-

agree
|
kltʃ(ə)rəl kɒnəmst/ noun a person

|
prove something together with another |
person or other people 쑗 The figures were who specializes in the study of finance
agreed between the two parties. 쑗 We and investment in agriculture
agriculture /!rkltʃə/ noun use of
agriculture
have agreed the budgets for next year. 쑗

The terms of the contract are still to be land for growing crops or raising animals,
agreed. 2. 왍 to agree on something to etc. 쑗 Agriculture is still an important
come to a decision that is acceptable to part of the nation’s economy.
everyone about something 쑗 We all ahead /əhed/ adverb in front of, better
ahead
agreed on the need for action. 3. 왍 to

|
than 쑗 We are already ahead of our sales

agree to something to say that you accept forecast. 쑗 The company has a lot of work
something that is suggested 쑗 After some ahead of it if it wants to increase its mar-
discussion he agreed to our plan. 왍 to ket share.
agree to do something to say that you aim /em/ noun something which you try
aim
will do something 쑗 She agreed to be to do 쑗 One of our aims is to increase the

chairman. 쑗 Will the finance director quality of our products. 왍 the company
agree to resign? 4. to be the same as 쑗 has achieved all its aims the company
The two sets of calculations do not agree. has done all the things it had hoped to do
agree with phrasal verb 1. to say that 쐽 verb to try to do something 쑗 Each
your opinions are the same as someone member of the sales team must aim to
else’s 쑗 I agree with the chairman that double their previous year’s sales. 쑗 We
the figures are lower than normal. 2. to aim to be No. 1 in the market within two
be the same as 쑗 The auditors’ figures years.
do not agree with those of the accounts air /eə/ noun a method of travelling or
air
department. sending goods using aircraft 쑗 to send a

agreed /ə!rid / adjective having been letter or a shipment by air 쐽 verb 왍 to air
agreed
accepted by everyone 쑗 We pay an agreed a grievance to talk about or discuss a

amount each month. 쑗 The agreed terms grievance 쑗 The management committee
of employment are laid down in the con- is useful because it allows the workers’
tract. representatives to air their grievances.
13 allow
air cargo /eə kɑ!əυ/ noun goods ed the meeting. 쑗 A salesman should
air cargo
sent by air know the prices of all the products he is

air carrier /eə kriə/ noun a company
air carrier
selling.
all-in /ɔl n/ adjective including every-
all-in
which sends cargo or passengers by air

air forwarding /eə fɔwədŋ/ noun
air forwarding
thing 쑗 The fee payable is £150 all-in.
all-in policy /ɔl n pɒlsi/ noun an
all-in policy
the process of arranging for goods to be

shipped by air insurance policy which covers all risks
air freight /eə fret/ noun the transpor- all-in rate /ɔl n ret/ noun 1. a price
air freight all-in rate
tation of goods in aircraft, or goods sent which covers all the costs connected with
by air 쑗 to send a shipment by air freight a purchase, such as delivery, tax and in-
쑗 Air freight tariffs are rising. surance, as well as the cost of the goods
airfreight /eəfret/ verb to send goods themselves 2. a wage which includes all
airfreight
by air 쑗 to airfreight a consignment to extra payments such as bonuses and merit

Mexico 쑗 We airfreighted the shipment pay
because our agent ran out of stock. allocate /ləket/ verb 1. to provide a
allocate
airline /eəlan/ noun a company which particular amount from a total sum of
airline
carries passengers or cargo by air money for a particular purpose 쑗 We allo-

airmail /eəmel/ noun a postal service
airmail
cate 10% of revenue to publicity. 쑗
which sends letters or parcels by air 쑗 to $2,500 was allocated to office furniture.
send a package by airmail 쑗 Airmail 2. to divide something in various ways
charges have risen by 15%. 쐽 verb to and share it out 쑗 How are we going to al-
send letters or parcels by air 쑗 We air- locate the available office space?
allocation /ləkeʃ(ə)n/ noun the
allocation
mailed the document to New York. |
airmail
airmail envelope
envelope /eəmel process of providing sums of money for

envələυp/ noun a very light envelope for particular purposes, or a sum provided for
sending airmail letters a purpose 쑗 the allocation of funds to a
airmail letter /eəmel letə/ noun a
airmail letter project
allot /əlɒt/ verb to share out 왍 to allot
allot
letter sent by air |
airmail sticker /eəmel stkə/ noun

airmail sticker
|
shares to give a certain number of shares
a blue sticker with the words ‘air mail’, to people who have applied for them
allotment /əlɒtmənt/ noun 1. the
allotment
which can be stuck on an envelope or par- |
cel to show that it is being sent by air process of sharing out something, espe-
airmail transfer /eəmel trnsf&/
airmail transfer
cially money between various depart-
noun an act of sending money from one ments, projects or people 쑗 The allotment
bank to another by airmail of funds to each project is the responsibil-
ity of the finance director. 2. the act of
airport bus /eəpɔt bs/ noun a bus
airport bus
|
giving shares in a new company to people
which takes passengers to and from an who have applied for them 쑗 share allot-
airport ment 쑗 payment in full on allotment
airport security /eəpɔt skjυərti/
airport security
all-out strike /ɔl aυt strak/ noun a

all-out strike
| |
noun actions taken to protect aircraft and

complete strike by all employees
passengers against attack
allow /əlaυ/ verb 1. to say that someone
allow
airport tax /eəpɔt tks/ noun a tax

airport tax |
added to the price of an air ticket to cover can do something 쑗 Junior members of
staff are not allowed to use the chair-
the cost of running an airport man’s lift. 쑗 The company allows all
airport terminal /eəpɔt
airport terminal
|
members of staff to take six days’ holiday
t&mn(ə)l/ noun the main building at an at Christmas. 2. to give 쑗 to allow 5%
airport where passengers arrive and de- discount to members of staff 3. to agree to
part or accept legally 쑗 to allow a claim or an
air terminal /eə t&mn(ə)l/ noun a
air terminal
appeal
building in a town where passengers meet allow for phrasal verb 1. to give a dis-
to be taken by bus to an airport outside the count for something, or to add an extra
town sum to cover something 쑗 to allow for
all /ɔl/ adjective, pronoun everything or money paid in advance 쑗 Add on an ex-
all
everyone 쑗 All (of) the managers attend- tra 10% to allow for postage and pack-
allowable 14
ing. 왍 delivery is not allowed for which can take the place of something 왍
delivery charges are not included 2. to to find someone alternative employ-
include something in your calculations ment to find someone another job
왍 allow 28 days for delivery calculate altogether
altogether
/ɔltə!eðə/ adverb |
that delivery will take up to 28 days putting everything together 쑗 The staff of
allowable /əlaυəb(ə)l/ adjective legal-
allowable
| the three companies in the group come to

ly accepted. Opposite disallowable 2,500 altogether. 쑗 The company lost
allowable expenses /əlaυəb(ə)l k £2m last year and £4m this year, making
allowable expenses
| |
spensz/ plural noun business expenses £6m altogether for the two years.
which can be claimed against tax a.m. /e em/ adverb in the morning, be-
a.m.
allowance /əlaυəns/ noun 1. money fore 12 midday 쑗 The flight leaves at 9.20
allowance
which is given for a special reason 쑗 a a.m. 쑗 Telephone calls before 6 a.m. are
travel allowance or a travelling allow- charged at the cheap rate. (NOTE: The US
ance 2. a part of an income which is not spelling is A.M.)
taxed 쑗 allowances against tax or tax al- amalgamate /əml!əmet/ verb to
amalgamate
lowances 쑗 personal allowances 3. mon- join together with another group 쑗 The
ey removed in the form of a discount 쑗 an amalgamated group includes six compa-
allowance for depreciation 쑗 an allow- nies.
ance for exchange loss ambition /mbʃ(ə)n/ noun what
ambition
‘…the compensation plan includes base, someone wants to do or achieve in their

incentive and car allowance totalling life 쑗 We insist that our sales representa-
$50,000+’ [Globe and Mail (Toronto)] tives have plenty of ambition. 쑗 Her am-
allowed time /əlaυd tam/ noun paid
allowed time
|
bition is to become the senior partner in
time which the management agrees an the firm.
employee can spend on rest, cleaning or ambitious /mbʃəs/ adjective full of
ambitious
meals, not working ambition, wanting to do or achieve some-

all-risks policy /ɔl rsks pɒlsi/
all-risks policy
thing 쑗 He is ambitious, but not very com-

noun an insurance policy which covers petent.
risks of any kind, with no exclusions amend /əmend/ verb to change and
amend
all-time /ɔl tam/ adjective 왍 all-time

all-time
make more correct or acceptable 쑗 Please

high, all-time low highest or lowest point amend your copy of the contract accord-
ever reached 쑗 Sales have fallen from ingly.
their all-time high of last year. amendment /əmendmənt/ noun a
amendment
‘…shares closed at an all-time high yester- change to a document 쑗 to propose an

day as expectations grew of lower interest amendment to the constitution 쑗 to make
rates’ [Times] amendments to a contract
alphabetical order /lfəbetk(ə)l
alphabetical order
American Depositary Receipt /ə

American Depositary Receipt
ɔdə/ noun the arrangement of records

|
merkən dpɒztri rsit/ noun a doc-

| |
such as files and index cards in the order ument issued by an American bank to US
of the letters of the alphabet citizens, making them unregistered share-
alter /ɔltə/ verb to change 쑗 to alter the
alter
holders of companies in foreign coun-

terms of a contract tries. The document allows them to re-
alteration /ɔltəreʃ(ə)n/ noun a
alteration
| ceive dividends from their investments,

change which has been made 쑗 He made and ADRs can themselves be bought or
some alterations to the terms of a con- sold. Abbreviation ADR
tract. 쑗 The agreement was signed with- COMMENT: Buying and selling ADRs is
out any alterations. easier for American investors than buy-
ing or selling the actual shares them-
alternate director /ɒlt&nt da
alternate director
| |
selves, as it avoids stamp duty and can
rektə/ noun a person nominated by a di- be carried out in dollars without incurring
rector to attend meetings in his place exchange costs.
alternative /ɔlt&nətv/ noun a thing American Stock Exchange /ə
alternative American Stock Exchange
| |
which can be done instead of another 쑗 merkən stɒk kstʃend$/ noun the |
What is the alternative to firing half the smaller of the two Stock Exchanges based
staff? 왍 we have no alternative there is in New York (the other is the New York
nothing else we can do 쐽 adjective other, Stock Exchange or NYSE). Abbreviation
15 annually
Amex (NOTE: Also called Curb Ex- ture 쑗 the announcement of the appoint-
change or Little Board, as opposed to ment of a new managing director 쑗 The
the Big Board, or NYSE.) managing director made an announce-
Amex /meks/ abbr American Stock ment to the staff.
Amex
annual /njuəl/ adjective for one year

annual
Exchange (informal )
AmEx /meks/ abbr American Ex- 쑗 an annual statement of income 쑗 They
AmEx
press have six weeks’ annual leave. 쑗 The com-

amortisable /mɔtazəb(ə)l/ ad-
amortisable
pany has an annual growth of 5%. 쑗 We
get an annual bonus. 왍 on an annual ba-
|
jective being possible to amortise 쑗 The

capital cost is amortisable over a period sis each year 쑗 The figures are revised on
of ten years. an annual basis.
amortisation
amortisation
/əmɔtazeʃ(ə)n/,
| |
‘…real wages have risen at an annual rate
amortising noun an act of amortising 쑗 of only 1% in the last two years’
[Sunday Times]
amortisation of a debt
‘…the remuneration package will include
amortise /əmɔtaz/, amortize verb
amortise
|
an attractive salary, profit sharing and a
1. to repay a loan by regular payments, company car together with four weeks’ an-
most of which pay off the interest on the nual holiday’ [Times]
loan at first, and then reduce the principal annual accounts /njuəl əkaυnts/
annual accounts
as the repayment period progresses 쑗 The plural noun the accounts prepared at the
capital cost is amortised over five years. end of a financial year 쑗 The annual ac-
2. to depreciate or to write down the cap- counts have been sent to the sharehold-
ital value of an asset over a period of time ers.
in a company’s accounts
annual depreciation /njuəl d
annual depreciation
amount /əmaυnt/ noun a quantity of

amount |
|
priʃieʃ(ə)n/ noun a reduction in the
money 쑗 A small amount has been de-
|
book value of an asset at a particular rate

ducted to cover our costs. 쑗 A large per year. 쒁 straight line depreciation
amount is still owing. 쑗 What is the
Annual General Meeting /njuəl
Annual General Meeting
amount to be written off? 쐽 verb 왍 to

amount to to make a total of 쑗 Their d$en(ə)rəl mitŋ/ noun an annual
debts amount to over £1m. meeting of all shareholders of a company,
amount to phrasal verb to make a total when the company’s financial situation is
of 쑗 Their debts amount to over £1m. presented by and discussed with the di-
rectors, when the accounts for the past
AMT abbr advanced manufacturing tech-
AMT
year are approved and when dividends are

nology declared and audited. Abbreviation AGM
analyse /nəlaz/, analyze verb to ex-
analyse
(NOTE: The US term is annual meeting

amine someone or something in detail 쑗 or annual stockholders’ meeting.)
to analyse a statement of account 쑗 to an- annual income /njuəl nkm/
annual income
alyse the market potential noun money received during a calendar

analysis /ənləss/ noun a detailed
analysis
|
year
examination and report 쑗 a job analysis 쑗 annualised /njuəlazd/, annual-
annualised
market analysis 쑗 Her job is to produce a ized adjective shown on an annual basis
regular sales analysis. (NOTE: The plural ‘…he believes this may have caused the
is analyses.)
economy to grow at an annualized rate of
analyst /nəlst/ noun a person who
analyst
almost 5 per cent in the final quarter of last

analyses 쑗 a market analyst 쑗 a systems year’ [Investors Chronicle]
analyst annualised
annualised percentage rate
percentage rate
analytical / nəltk(ə)l/ adjective us- /njuəlazd pəsentd$ ret/ noun a
analytical
|
|
ing analysis yearly percentage rate, calculated by mul-

announce /ənaυns/ verb to tell some-
announce
| tiplying the monthly rate by twelve. Ab-

thing to the public 쑗 to announce the first breviation APR (NOTE: The annualised
year’s trading results 쑗 The director has percentage rate is not as accurate as
announced a programme of investment. the Annual Percentage Rate (APR),
announcement /ənaυnsmənt/ noun which includes fees and other charges.)
announcement
an act of telling something in public 쑗 the annually /njuəli/ adverb each year 쑗
annually
announcement of a cutback in expendi- The figures are updated annually.

Annual Percentage Rate 16

Annual Percentage Rate /njuəl lift the telephone when it rings and listen
Annual Percentage Rate
pəsentd$ ret/ noun a rate of interest

| to what the caller is saying
(such as on a hire-purchase agreement) answering service /ɑns(ə)rŋ
answering service
shown on an annual compound basis, and s&vs/ noun an office which answers the
including fees and charges. Abbreviation telephone and takes messages for some-
APR one or for a company
annual report /njuəl rpɔt/ noun antedate /ntdet/ verb to put an
annual report antedate
| |
a report of a company’s financial situation earlier date on a document 쑗 The invoice

at the end of a year, sent to all the share- was antedated to January 1st.
holders anti- /nti/ prefix against
anti-
annual return /njuəl rt&n/ noun anti-dumping /nti dmpŋ/ adjec-

annual return anti-dumping
an official report which a registered com- tive intended to stop surplus goods being
pany has to make each year to the Regis- sold in foreign markets at a price that is
trar of Companies lower than their marginal cost
annuitant /ənjutənt/ noun a person anti-dumping duty /nti dmpŋ/
annuitant anti-dumping duty
who receives an annuity noun same as countervailing duty

anti-inflationary /nti n
anti-inflationary
annuity /ənjuti/ noun money paid

annuity
|
fleʃ(ə)n(ə)ri/ adjective restricting or

|
each year to a retired person, usually in

return for a lump-sum payment. The val- trying to restrict inflation 쑗 anti-infla-
ue of the annuity depends on how long the tionary measures
anti-inflationary measure /nti n
anti-inflationary measure
person lives, as it usually cannot be |
passed on to another person. Annuities fleʃ(ə)n(ə)ri me$ə/ noun a measure

are fixed payments, and lose their value taken to reduce inflation
with inflation, whereas a pension can be anti-site /nti sat/ noun a website de-
anti-site
index-linked. 쑗 to buy or to take out an voted to attacking a particular company or

annuity 쑗 She has a government annuity organisation. An anti-site often imitates
or an annuity from the government. the target organisation’s own site and is
COMMENT: When a person retires, he or usually set up by a customer who has a
she is required by law to purchase a complaint against the organisation that he
‘compulsory purchase annuity’ with the or she has been unable to express on the
funds accumulated in his or her pension
fund. This provides a taxable income for organisation’s own site. Also known as
the rest of his or her life, but usually it is hate site
anti-trust /nti trst/ adjective at-
anti-trust
a fixed income which does not change

with inflation. tacking monopolies and encouraging
annuity for life /ənjuti fə laf/
annuity for life
| competition 쑗 anti-trust measures

noun annual payments made to someone any other business /eni ðə
any other business
as long as they are alive bzns/ noun an item at the end of an

annul /ənl/ verb to cancel or to stop agenda, where any matter can be raised.
annul
something being legal 쑗 The contract was Abbreviation AOB

annulled by the court. (NOTE: annulling AOB abbr any other business
AOB
– annulled) aperture envelope /pətʃə

aperture envelope
annulment /ənlmənt/ noun the act envələυp/ noun an envelope with a hole
annulment
of cancelling 쑗 the annulment of a con- in it so that the address on the letter inside
tract can be seen
answer /ɑnsə/ noun a reply, a letter or apologize /əpɒləd$az/ verb to say
answer apologize
conversation coming after someone has you are sorry 쑗 to apologize for the delay
written or spoken 쑗 my letter got no an- in answering 쑗 she apologized for being
swer or there was no answer to my letter late
쑗 I am writing in answer to your letter of appeal /əpil/ noun 1. the fact of being
appeal
October 6th. 쑗 I tried to phone his office attractive 2. the act of asking a law court
but there was no answer. 쐽 verb to speak or a government department to change its
or write after someone has spoken or writ- decision 쑗 He lost his appeal for damages
ten to you 왍 to answer a letter to write a against the company. 왍 she won her case
letter in reply to a letter which you have on appeal her case was lost in the first
received 왍 to answer the telephone to court, but the appeal court said that she
17 approach
was right 쐽 verb 1. to attract 쑗 The idea ment. 쑗 She had to cancel her appoint-
of working in Australia for six months ap- ment. 2. the act of being appointed to a
pealed to her. 2. to ask a law court or a job, or of appointing someone to a job 왍
government department or to alter its de- on his appointment as manager when
cision 쑗 The union appealed against the he was made manager 3. a job
decision of the tribunal. (NOTE: You ap- appointments book /əpɔntmənts
appointments book
peal to a court or a person against a de- bυk/ noun a desk diary in which appoint-
cision.) ments are noted
appear /əpə/ verb to seem 쑗 The com- /ə
appear
appointments vacant
appointments vacant
|
|
pany appeared to be doing well. 쑗 The pɔntmənts vekənt/ noun a list (in a
managing director appears to be in con- newspaper) of jobs which are available
trol. apportion /əpɔʃ(ə)n/ verb to share
apportion
appendix /əpendks/ noun 1. addi-

appendix
| out something, e.g. costs, funds or blame

tional sheets at the back of a contract 2. 쑗 Costs are apportioned according to
additional pages at the back of a book projected revenue.
applicant /plkənt/ noun a person apportionment /əpɔʃ(ə)nmənt/
applicant apportionment
who applies for something 쑗 an applicant noun the sharing out of costs
for a job or a job applicant 쑗 an applicant appraisal /əprez(ə)l/ noun a calcula-
appraisal
to an industrial tribunal 쑗 There were tion of the value of someone or something

thousands of applicants for shares in the ‘…we are now reaching a stage in industry
new company. and commerce where appraisals are be-
application /plkeʃ(ə)n/ noun 1.
application
| coming part of the management culture.

the act of asking for something, usually in Most managers now take it for granted that
writing, or a document in which someone they will appraise and be appraised’
asks for something, e.g. a job 쑗 shares [Personnel Management]
appraise /əprez / verb to assess or to
appraise
payable on application 쑗 She sent off six |
applications for job or six job applica- calculate the value of something or some-
tions. 2. effort or diligence 쑗 She has one
shown great application in her work on appraisee /əprezi/ noun an employ-
appraisee
the project. ee who is being appraised by his or her

application form /plkeʃ(ə)n manager in an appraisal interview
application form
fɔm/ noun a form to be filled in when appreciate /əpriʃiet/ verb 1. to no-

appreciate
applying for a new issue of shares or for a tice how good something is 2. (of curren-
job cy, shares, etc.) to increase in value
apply /əpla/ verb 1. to ask for some- appreciation /əpriʃieʃ(ə)n/ noun
apply appreciation
| | |
thing, usually in writing 쑗 to apply in 1. an increase in value. Also called capi-

writing 쑗 to apply in person 쑗 The more tal appreciation 2. the act of valuing
ambitious of the employees will apply for something highly 쑗 She was given a pay
the management trainee programme. 쑗 rise in appreciation of her excellent work.
About fifty people have applied for the apprentice /əprents/ noun a young
apprentice
job, but there is only one vacancy. 2. to af- person who works under contract for a pe-
fect or to relate to 쑗 This clause applies riod in order to be trained in a skill 쐽 verb
only to deals outside the EU. (NOTE: [all 왍 to be apprenticed to someone to work
senses] applies – applying – applied) with a skilled worker to learn from them
appoint /əpɔnt/ verb to choose some- apprenticeship /əprentsʃp/ noun
appoint
apprenticeship
| |
one for a job 쑗 We have appointed a new the time spent learning a skilled trade 쑗
distribution manager. 쑗 They’ve appoint- He served a six-year apprenticeship in the
ed Janet Smith (to the post of) manager. steel works.
(NOTE: You appoint a person to a job.) appro /prəυ/ noun same as approval
appro
appointee /əpɔnti/ noun a person (informal) 왍 to buy something on appro

appointee
who is appointed to a job to buy something which you will only pay
appointment /əpɔntmənt/ noun 1. for if it is satisfactory
appointment
an arrangement to meet 쑗 to make or to fix approach /əprəυtʃ/ noun an act of

approach
an appointment with someone for two getting in touch with someone with a pro-
o’clock 쑗 He was late for his appoint- posal 쑗 The company made an approach
appropriate 18
to the supermarket chain. 쑗 The board approximately 10% down on the previous
turned down all approaches on the sub- quarter.
ject of mergers. 쑗 We have had an ap- approximation /əprɒksmeʃ(ə)n/
approximation
| |
proach from a Japanese company to buy noun a rough calculation 쑗 Each depart-
our car division. 쑗 She has had an ap- ment has been asked to provide an ap-
proach from a firm of headhunters. 쐽 verb proximation of expenditure for next year.
to get in touch with someone with a pro- 쑗 The final figure is only an approxima-
posal 쑗 He approached the bank with a tion.
request for a loan. 쑗 The company was APR
APR abbr Annual Percentage Rate

approached by an American publisher
aptitude /pttjud/ noun the ability
aptitude
with the suggestion of a merger. 쑗 We

have been approached several times but to do something
aptitude test /pttjud test/ noun
aptitude test
have turned down all offers. 쑗 She was |
approached by a headhunter with the of- a test to see if a candidate is suitable for a
fer of a job. certain type of work. Compare attain-
appropriate adjective /əprəυpriət/
appropriate
|
ment test
AR abbr accounts receivable
AR
suitable 쑗 I leave it to you to take appro-

priate action. 쐽 verb /əprəυpriet/ to arbitrage /ɑbtrɑ$/ noun the busi-
arbitrage
| |
put a sum of money aside for a special ness of making a profit from the differ-
purpose 쑗 to appropriate a sum of money ence in value of various assets, e.g. by
for a capital project selling foreign currencies or commodities
/əprəυprieʃ(ə)n/ on one market and buying on another at
appropriation
appropriation | |
noun the act of putting money aside for a almost the same time to profit from differ-
special purpose 쑗 appropriation of funds ent exchange rates, or by buying curren-
to the reserve cies forward and selling them forward at
a later date, to benefit from a difference in
appropriation account /əprəυpri
appropriation account
prices
| |
eʃ(ə)n əkaυnt/ noun the part of a prof-

arbitrage syndicate /ɑbtrɑ$
|
arbitrage syndicate
it and loss account which shows how the

profit has been dealt with, e.g., how much sndkət/ noun a group of people who
has been given to the shareholders as div- together raise the capital to invest in arbi-
idends and how much is being put into the trage deals
arbitrageur /ɑbtred$ə/, arbitrager
arbitrageur
reserves
approval /əpruv(ə)l/ noun 1. the act
approval
|
/ɑbtrɑ$&/ noun a person whose
|
of saying or thinking that something is business is arbitrage

COMMENT: Arbitrageurs buy shares in
good 쑗 to submit a budget for approval 2. companies which are potential takeover
왍 on approval in order to be able to use targets, either to force up the price of the
something for a period of time and check shares before the takeover bid, or simply
that it is satisfactory before paying for it 쑗 as a position while waiting for the takeo-
to buy a photocopier on approval ver bid to take place. They also sell
shares in the company which is expect-
approve /əpruv/ verb 1. 왍 to approve
approve
|
ed to make the takeover bid, since one of
of something to think something is good the consequences of a takeover bid is
쑗 The chairman approves of the new com- usually that the price of the target com-
pany letter heading. 쑗 The sales staff do pany rises while that of the bidding com-
not approve of interference from the ac- pany falls. Arbitrageurs may then sell the
counts division. 2. to agree to something shares in the target company at a profit,
either to one of the parties making the
officially 쑗 to approve the terms of a con- takeover bid, or back to the company it-
tract 쑗 The proposal was approved by the self.
board. arbitrate /ɑbtret/ verb (of an out-
arbitrate
approximate /əprɒksmət/ adjective

approximate
| side party) to try to settle an industrial

not exact, but almost correct 쑗 The sales dispute by talking to representatives of
division has made an approximate fore- both sides, who agree in advance to abide
cast of expenditure. by the arbitrator’s decision
approximately /əprɒksmətli/ ad- arbitration /ɑbtreʃ(ə)n/ noun the
approximately arbitration
| |
verb not quite exactly, but close to the fig- settling of a dispute by an outside party
ure shown 쑗 Expenditure on marketing is agreed on by both sides 쑗 to take a dis-
19 arrive
pute to arbitration or to go to arbitration over the best way to deal with the ultima-
쑗 arbitration in an industrial dispute 쑗 tum from the management.
The two sides decided to submit the dis- argument /ɑ!jυmənt/ noun 1. an act
argument
pute to arbitration or to refer the question of discussing something without agreeing

to arbitration. 쑗 She was sacked after an argument with
arbitration board /ɑbtreʃ(ə)n
arbitration board
| the managing director. 2. a reason for

bɔd/ noun a group which arbitrates supporting or rejecting something 쑗 The
arbitrator /ɑbtretə/ noun a person
arbitrator
document gives the management’s argu-
not concerned with a dispute who is cho- ments in favour of flexible working hours.
arising /ərazŋ/ adjective which
arising
sen by both sides to try to settle it 쑗 an in- |
dustrial arbitrator 쑗 They refused to ac- comes from 쑗 differences arising from the
cept or they rejected the arbitrator’s rul- contract
ing. around /əraυnd/ preposition approxi-
around
archive /ɑkav/ noun 1. a collection mately 쑗 The office costs around £2,000
archive
of documents and records preserved for a year to heat. 쑗 Her salary is around
their historical interest 2. a set of copies $85,000.
of computer files, often stored in com- arrange /ərend$/ verb to organise 쑗
arrange
pressed form 3. a directory of files that In- We arranged to have the meeting in their
ternet users can access offices. (NOTE: You arrange for someone
archives /ɑkavz/ noun old docu- to do something; you arrange for some-
archives
ments which are kept safely 쑗 The com- thing to be done; or you arrange to do
pany’s archives go back to its foundation something.)
in 1892. arrangement /ərend$mənt/ noun 1.
arrangement
area /eəriə/ noun 1. a measurement of the way in which something is organised

area
the space taken up by something (calcu- 쑗 The company secretary is making all
lated by multiplying the length by the the arrangements for the meeting. 2. the
width) 쑗 a no-smoking area 쑗 The area of settling of a financial dispute 쑗 He came
this office is 3,400 square feet. 쑗 We are to an arrangement with his creditors.
looking for a shop with a sales area of arrangement fee /ərend$mənt fi/
arrangement fee
about 100 square metres. 2. a subject 쑗 a noun a charge made by a bank to a client
problem area or an area for concern 3. a for arranging credit facilities
district or part of a town 쑗 The office is in arrears /ərəz/ plural noun 1. money
arrears
the commercial area of the town. 쑗 Their

|
which is owed, but which has not been

factory is in a very good area for getting paid at the right time 쑗 a salary with ar-
to the motorways and airports. 4. a part of rears effective from January 1st 쑗 We are
a country, a division for commercial pur- pressing the company to pay arrears of
poses 쑗 Her sales area is the North-West. interest. 쑗 You must not allow the mort-
쑗 He finds it difficult to cover all his area
gage payments to fall into arrears. 2. 왍 in
in a week. 5. a part of a room, factory, res- arrears owing money which should have
taurant, etc. 쑗 a no-smoking area been paid earlier 쑗 The payments are six
area code /eəriə kəυd/ noun a special
area code
months in arrears. 쑗 He is six weeks in

telephone number which is given to a par- arrears with his rent.
ticular area 쑗 The area code for central arrival /ərav(ə)l/ noun reaching a
arrival
London is 0207. place 쑗 We are waiting for the arrival of

area manager /eəriə mnd$ə/ a consignment of spare parts. 왍 ‘to await
area manager
noun a manager who is responsible for a arrival’ note written on an envelope to

company’s work in a specific part of the ask for it to be kept safe until the person it
country is addressed to arrives
argue /ɑ!ju/ verb to discuss some- arrive /ərav/ verb to reach a place 쑗
argue arrive
thing about which you do not agree 쑗 they The consignment has still not arrived. 쑗
argued over or about the price 쑗 We spent The shipment arrived without any docu-
hours arguing with the managing director mentation. 쑗 The plane arrives in Sydney
about the site for the new factory. 쑗 The at 04.00. 쑗 The train leaves Paris at 09.20
union officials argued among themselves and arrives at Bordeaux two hours later.
article 20
(NOTE: You arrive at or in a place or A shares /e ʃeəz/ plural noun ordi-
A shares
town, but only in a country.) nary shares with limited voting rights or
arrive at phrasal verb to work out and no voting rights at all
agree on something 쑗 They very quickly COMMENT: A company may be set up
arrived at an acceptable price. 쑗 After with two classes of share: ‘A’ shares,
which are available to the general inves-
some discussion we arrived at a com- tor, and ‘B’ shares which are only bought
promise. by certain individuals, such as the found-
article /ɑtk(ə)l/ noun 1. a product or er and his family. Such division of shares
article
thing for sale 쑗 to launch a new article on is becoming less usual nowadays.
Asian Currency Unit /e$(ə)n
Asian Currency Unit
the market 쑗 a black market in luxury ar-

ticles 2. a section of a legal agreement krənsi junt/ noun a unit of account
such as a contract or treaty 쑗 See article 8 for dollar deposits held in Singapore and
of the contract. other Asian markets. Abbreviation ACU
aside /əsad/ adverb to one side, out of
aside
articled clerk /ɑtk(ə)ld klɑk /

articled clerk
|
noun a clerk who is bound by contract to the way 왍 to put aside, to set aside to
save (money) 쑗 He is putting £50 aside
work in a solicitor’s office for some years
each week to pay for his car.
to learn the law (NOTE: Such as person is
ask / ɑsk/ verb 1. to put a question to
ask
now officially called a trainee solicitor,

though the old term is still used) someone 쑗 He asked the information of-
article numbering system fice for details of companies exhibiting at
article numbering system the motor show. 쑗 Ask the salesgirl if the
/ɑtk(ə)l nmbərŋ sstəm/ noun a bill includes VAT. 2. to tell someone to do
universal system of identifying articles something 쑗 He asked the switchboard
for sale, using a series of digits which can operator to get him a number in Germa-
be expressed as bar codes ny. 쑗 She asked her secretary to fetch a
articles /ɑtk(ə)lz/ plural noun a time file from the managing director’s office. 쑗
articles
when a clerk is working in a solicitor’s of- Customs officials asked him to open his
fice learning the law (NOTE: officially now case.
called a training contract, though the ask for phrasal verb 1. to say that you
old term is still used) want or need something 쑗 They asked
articles of association /ɑtk(ə)lz
articles of association
for more time to repay the loan. 2. to put
a price on something for sale 쑗 They are
əv əsəυsieʃ(ə)n/ plural noun a docu-
asking £24,000 for the car.
| |
ment which lays down the rules for a

asking price /ɑskŋ pras/ noun a
asking price
company regarding such matters as the is-

sue of shares, the conduct of meetings and price which the seller is hoping will be
the appointment of directors 쑗 This pro- paid for the item being sold 쑗 the asking
cedure is not allowed under the articles of price is £24,000
as per /z p&/ 쏡 per
as per
association of the company.

aspirations /spreʃ(ə)nz/ plural
aspirations
articles of incorporation
articles of incorporation |
/ɑtk(ə)lz əv nkɔpəreʃ(ə)n/ plural | |

noun ambitions or hopes of advancement
noun US a document which sets up a in your job
assay mark /se mɑk / noun a mark
assay mark
company and lays down the relationship

between the shareholders and the compa- put on gold or silver items to show that
ny (NOTE: The UK term is Memorandum the metal is of the correct quality
assemble /əsemb(ə)l/ verb to put a
assemble
of Association.) |
articulated lorry
articulated /ɑtkjυletd
lorry |
product together from various parts 쑗 The
lɒri/, articulated vehicle /ɑ |
engines are made in Japan and the bodies
tkjυletd vik(ə)l/ noun a large lorry in Scotland, and the cars are assembled in
formed of two parts, the second pulled by France.
assembly /əsembl/ noun 1. the proc-
assembly
the first |
ess of putting an item together from vari-

artisan /ɑtzn/ noun a worker who
artisan
|
ous parts 쑗 There are no assembly in-
has special training in a manual skill structions to show you how to put the
asap /e es e pi, esp/, ASAP ab-
asap
computer together. 쑗 We can’t put the ma-

breviation as soon as possible chine together because the instructions
21 association
for assembly are in Japanese. 2. an offi- 쑗 She was assigned the task of checking
cial meeting the sales figures.
assembly line /əsembli lan/ noun a assignation /s!neʃ(ə)n/ noun a
assembly line assignation
|
|
production system where a product such legal transfer 쑗 the assignation of shares
as a car moves slowly through the factory to someone 쑗 the assignation of a patent
assignee /sani/ noun a person
assignee
with new sections added to it as it goes |
along 쑗 She works on an assembly line or who receives something which has been
She is an assembly line worker. assigned to him or her
assertiveness /əs&tvnəs/ noun the assignment /əsanmənt/ noun 1. the
assertiveness assignment
|
|
ability to state opinions or show that you legal transfer of a property or right 쑗 the
can make decisions assignment of a patent or of a copyright 쑗
assertiveness training /əs&tvnəs
assertiveness training
to sign a deed of assignment 2. a particu-
lar task given to someone 쑗 Her first as-
|
trenŋ/ noun the process of training

employees to have more confidence in signment was to improve the company’s
themselves image. 쑗 The oil team is on an assignment
in the North Sea.
assess /əses/ verb to calculate the val-
assess
assignor / sanɔ/ noun a person

assignor
|
ue of something or someone 쑗 to assess

|
who assigns something to someone

damages at £1,000 쑗 to assess a property
assist /əsst/ verb to help 쑗 Can you
assist
for the purposes of insurance |
assist the stock controller in counting the

assessment /əsesmənt/ noun a cal-
assessment
|
stock? 쑗 She assists me with my income
culation of value 쑗 a property assessment tax returns. (NOTE: You assist someone
쑗 a tax assessment 쑗 They made a com- in doing something or with something.)
plete assessment of each employee’s con- assistance /əsst(ə)ns/ noun help 쑗
assistance
tribution to the organisation. Some candidates need assistance in fill-

assessor / əsesə/ noun a person who
assessor
|
ing in the form.
makes assessments, e.g. for tax or insur- assistant /əsst(ə)nt/ noun a person
assistant
ance purposes, or for competence-based who helps or a clerical employee

qualifications in the workplace assistant manager /əsst(ə)nt
assistant manager
asset /set/ noun something which be- mnd$ə/ noun a person who helps a
asset
longs to a company or person, and which manager

has a value 쑗 He has an excess of assets associate / əsəυsiət/ adjective linked
associate
over liabilities. 쑗 Her assets are only 쐽 noun a person who works in the same
£640 as against liabilities of £24,000. business as someone 쑗 She is a business
‘…many companies are discovering that a associate of mine.
well-recognised brand name can be a associate company /əsəυsiət
associate company
priceless asset that lessens the risk of in- kmp(ə)ni/ noun a company which is
troducing a new product’ [Duns partly owned by another company
Business Month]
associated /əsəυsietd/ adjective
associated
asset stripper / set strpə/ noun a

asset stripper |
linked
person who buys a company to sell its as-
associated company /əsəυsietd
associated company
sets |
kmp(ə)ni/ noun a company which is

asset stripping /set strpŋ/ noun
asset stripping
partly owned by another company

the practice of buying a company at a (though less than 50%), which exerts
lower price than its asset value, and then some management control over it or has a
selling its assets close trading relationship with it 쑗 Smith
asset value /set vlju/ noun the
asset value
Ltd and its associated company, Jones

value of a company calculated by adding Brothers
together all its assets associate director /əsəυsiət da
associate director
| |
assign / əsan/ verb 1. to give some- rektə/ noun a director who attends board
assign
thing to someone by means of an official meetings, but has not been elected by the
legal transfer 쑗 to assign a right to some- shareholders
one 쑗 to assign shares to someone 2. to association /əsəυsieʃ(ə)n/ noun a
association
| |
give someone a job of work to do and group of people or companies with the
make him or her responsible for doing it same interest 쑗 an employers’ associa-
assortment 22
tion 쑗 Our company has applied to join Netherlands, Portugal and Germany’
the trade association. 쑗 The manufactur- [Banking Technology]
ers’ association has sent a letter to the ‘…the major supermarket operator is plan-
minister. ning a new type of bank that would earn
assortment /əsɔtmənt/ noun a com- 90% of its revenue from fees on automated
assortment
bination of goods sold together 쑗 The box teller machine transactions. With the bank
contains an assortment of chocolates with setting up ATMs at 7,000 group outlets na-
tionwide, it would have a branch network
different centres. at least 20 times larger than any of the ma-
asst abbr assistant
asst
jor banks’ [Nikkei Weekly]

assume /əsjum/ verb 1. to suppose,
assume
atomise /təmaz/ verb to divide up a

atomise
|
to believe something to be true 쑗 I assume large organisation into several smaller op-
you have enough money to pay these ex- erating units
penses? 쑗 We assume the shipment has
atomistic competition /təmstk
atomistic competition
arrived on time. 2. to take for yourself 쑗

He has assumed responsibility for mar- kɒmpətʃ(ə)n/ noun same as perfect
|
competition
keting. 쑗 The company will assume all
at par /t pɑ/ phrase equal to the face
at par
risks.
assumption /əsmpʃən/ noun 1. a
assumption
|
value
at sight /t sat/ adverb immediately,
at sight
general belief 쑗 We are working on the

assumption that the exchange rate will when it is presented 쑗 a bill of exchange
stay the same. 2. the act of taking for payable at sight
yourself 쑗 assumption of risks 3. the attach /əttʃ/ verb to fasten or to link
attach
transfer of the rest of a mortgage to some- 쑗 I am attaching a copy of my previous

one letter. 쑗 Please find attached a copy of my
assurance /əʃυərəns/ noun a type of letter of June 24th. 쑗 The company at-
assurance
insurance which pays compensation for taches great importance to good time-
an event that is certain to happen at some keeping.
time, especially for the death of the in- attaché /ətʃe/ noun a junior diplo-
attaché
sured person. Also called life assur- mat who does special work
ance, life insurance
attaché case /ətʃe kes/ noun a
attaché case
assure /əʃυə/ verb to insure someone,

|
assure
|
small case for carrying papers and docu-
or someone’s life, so that the insurance ments
company will pay compensation when
attachment /əttʃmənt/ noun the act
attachment
that person dies 쑗 He has paid the premi- |
ums to have his wife’s life assured. (NOTE: of holding a debtor’s property to prevent
Assure, assurer and assurance are it being sold until debts are paid
earnings /ə
attachment of earnings
used in Britain for insurance policies re- attachment of |
lating to something which will certainly ttʃmənt əv &nŋz/ noun legal power
happen (such as death); for other types to take money from a person’s salary to
of policy (i.e. those against something pay money, which is owed, to the court
which may or may not happen, such as attainment /ətenmənt/ noun the act
attainment
an accident) use the terms insure, in- of reaching a certain standard or goal
surer and insurance.) attainment test /ətenmənt test/
attainment test
assurer /əʃυərə/, assuror noun an in-

assurer
|
noun a test designed to measure the skills
surer or a company which insures which someone is currently using. Com-
at best /t best/ adverb 왍 buy at best
at best
pare aptitude test

an instruction to a stockbroker to buy se- attempt /ətempt/ noun an act of trying
attempt
curities at the best price available, even if to do something 쑗 The company made an
it is high 왍 sell at best an instruction to a attempt to break into the American mar-
stockbroker to sell shares at the best price ket. 쑗 The takeover attempt was turned
possible down by the board. 쑗 All his attempts to
ATM
ATM abbr automated teller machine get a job have failed. 쐽 verb to try 쑗 The
‘Swiss banks are issuing new cards which company is attempting to get into the
will allow cash withdrawals from ATMs tourist market. 쑗 We are attempting the
in Belgium, Denmark, Spain, France, the takeover of a manufacturing company. 쑗
23 audio-typing
He attempted to have the sales director attract /ətrkt/ verb 1. to make some-
attract
sacked. one want to join or come to something 쑗

attend /ətend/ verb to be present at 쑗 The company is offering free holidays in
attend
The chairman has asked all managers to Spain to attract buyers. 쑗 We have diffi-
attend the meeting. 쑗 None of the share- culty in attracting skilled staff to this part
holders attended the AGM. of the country. 2. to bring something or
attend to phrasal verb to give careful someone to something 쑗 The deposits at-
thought to something and deal with it 쑗 tract interest at 15%.
The managing director will attend to attractive /ətrktv/ adjective attract-
attractive
your complaint personally. 쑗 We have ing something or someone 왍 attractive

brought in experts to attend to the prob- prices prices which are cheap enough to
lem of installing the new computer. make buyers want to buy 왍 attractive sal-
attendance /ətendəns/ noun the fact
attendance
| ary a good salary to make high-quality

of being present at a meeting or at work 쑗 applicants apply for the job
Some of the employees were reprimanded attributable profit /ətrbjυtəb(ə)l
attributable profit
for poor attendance. 쑗 The supervisor

|
prɒft/ noun a profit which can be

kept a strict record of the workers’ attend- shown to come from a particular area of
ance. 쑗 Promotion to the post of supervi- the company’s operations
sor depends to a certain extent on a per- attribution theory of leadership
son’s attendance record. 쑗 Attendance at attribution theory of leadership

the staff meeting is not compulsory. /trbjuʃ(ə)n θəri əv lidəʃp/ noun
|
attention /ətenʃən/ noun careful

attention
|
the theory that leaders observe the behav-
thought or consideration 왍 for the atten- iour of the people they lead, decide what
tion of (attn, fao) words written on a let- it is that is causing them to behave in that
ter to show that a certain person must see particular way, e.g. what is causing them
it and deal with it 쑗 Mark your letter ‘for to perform well or perform badly, and
the attention of the Managing Director’. base their own actions on what they be-
lieve those causes to be
attention management /ətenʃən
attention management
attrition /ətrʃ(ə)n/ noun 1. a decrease

| attrition
mnd$mənt/ noun the use of tech- |
niques designed to make sure that em- in the loyalty of consumers to a product,
ployees’ minds remain focused on their due to factors such as boredom or desire
work and on the aims of the organisation for a change 쑗 We must adapt our prod-
they work for, since inattentiveness re- ucts if we are to avoid attrition. 쑗 Attri-
sults in wasted time (NOTE: Getting peo- tion showed the company that brand loy-
ple to be emotionally involved in their alty could not be taken for granted. 2. loss
work and organisational goals is an im- of labour through natural wastage
portant element in attention manage- auction /ɔkʃən/ noun a method of
auction
ment.) selling goods where people want to buy

attitude research /ttjud r compete with each other by saying how
attitude research
s&tʃ/, attitude survey /ttjud much they will offer for it, and the item is
s&ve/ noun research that is intended to sold to the person who makes the highest
reveal what people think and feel about an offer 쑗 Their furniture will be sold in the
organisation, its products or services, and auction rooms next week. 쑗 They an-
its activities (NOTE: Attitude research nounced a sale by auction of the fire-dam-
can be used to discover the opinions ei- aged stock. 쑗 The equipment was sold by
ther of consumers and the general pub- auction or at auction. 왍 to put an item up
lic or of an organisation’s own employ- for auction to offer an item for sale at an
ees.) auction 쐽 verb to sell something at an
attn
attn abbr for the attention of auction 쑗 The factory was closed and the
attorney /ət&ni/ noun a person who is
attorney
|
machinery was auctioned off.
auctioneer /ɔkʃənə/ noun the per-
auctioneer
legally allowed to act on behalf of some- |
one else son who conducts an auction

attorney-at-law /ət&ni ət lɔ/ noun audio-typing /ɔdiəυ tapŋ/ noun
attorney-at-law audio-typing
US a lawyer who has a state licence to the act of typing to dictation from a re-
practise in a court cording on a dictating machine
audio-typist 24
audio-typist /ɔdiəυ tapst/ noun a authenticate /ɔθentket/ verb to
audio-typist authenticate
typist who types to dictation from a re- say that something is true or genuine
cording on a dictating machine authorisation /ɔθərazeʃ(ə)n/, au-
authorisation
audit /ɔdt/ noun 1. the examination of

audit
thorization noun permission or power to

the books and accounts of a company 쑗 to do something 쑗 Do you have authorisa-
carry out the annual audit 2. a detailed tion for this expenditure? 쑗 He has not
examination of something in order to as- been given authorisation to act on our be-
sess it 쑗 A thorough job audit was needed half.
for job evaluation. 쑗 A manpower audit authorise /ɔθəraz/, authorize verb
authorise
showed up a desperate lack of talent. 쐽 1. to give permission for something to be

verb to examine the books and accounts done 쑗 to authorise payment of £10,000
of a company 쑗 Messrs Smith have been 2. to give someone the authority to do
asked to audit the accounts. 쑗 The books something 쑗 to authorise someone to act
have not yet been audited. on the company’s behalf
auditing /ɔdtŋ/ noun the work of ex-
auditing
authorised /ɔθərazd/, authorized

authorised
amining the books and accounts of a com- adjective permitted

pany authorised capital /ɔθərazd
authorised capital
auditor /ɔdtə/ noun a person who au-

|
auditor
kpt(ə)l/ noun an amount of capital

dits which a company is allowed to have, as
COMMENT: Auditors are appointed by the
company’s directors and voted for by the
stated in the memorandum of association
authorised dealer /ɔθərazd dilə/
authorised dealer
AGM. In the USA, audited accounts are

only required by corporations which are noun a person or company (such as a
registered with the SEC, but in the UK all bank) that is allowed by the country’s
limited companies with a turnover over a central bank to buy and sell foreign cur-
certain limit must provide audited annual rency
accounts.
authorised stock /ɔθərazd stɒk/
authorised stock
auditors’ qualification /ɔdtəz

auditors’ qualification
kwɒlfkeʃ(ə)n/ noun a form of words

|
noun same as authorised capital
authorised unit trust /ɔθərazd
authorised unit trust
in a report from the auditors of a compa-

ny’s accounts, stating that in their opinion junt trst/ noun the official name for
the accounts are not a true reflection of a unit trust which has to be managed ac-
the company’s financial position. Also cording to EU directives. Abbreviation
called qualification of accounts AUT
auditors’ report /ɔdtəz rpɔt/ authority /ɔθɒrti/ noun the power to
authority
auditors’ report
| |
noun a report written by a company’s au- do something 쑗 a manager with authority

ditors after they have examined the ac- to sign cheques 쑗 He has no authority to
counts of the company (NOTE: If the audi- act on our behalf. 쑗 Without the neces-
tors are satisfied, the report certifies sary authority, the manager could not
that, in their opinion, the accounts give a command respect. 쑗 Only senior manag-
‘true and fair’ view of the company’s fi- ers have the authority to initiate these
nancial position.) changes.
audit trail /ɔdt trel/ noun the autocratic management style
audit trail autocratic management style
records that show all the stages of a trans- /ɔtəkrtk mnd$mənt stal/ noun
action, e.g. a purchase, a sale or a custom- a style of management where the manag-
er complaint, in the order in which they ers tell the employees what to do, without
happened (NOTE: An audit trail can be a involving them in the decision-making
useful tool for problem-solving and, in fi- processes. Opposite democratic man-
nancial markets, may be used to ensure agement style
that the dealers have been fair and ac- automated /ɔtəmetd / adjective
automated
curate in their proceedings.) worked automatically by machines 쑗 a

Australian Council of Trade Un- fully automated car assembly plant
Australian Council of Trade Unions
ions /ɒstreliən kaυns(ə)l əv tred/

|
automated
automated teller machine
teller machine
noun the national organisation that repre- /ɔtəmtk telŋ məʃin/ noun a ma- |
sents the trade unions of Australia. Ab- chine which gives out money when a spe-
breviation ACTU cial card is inserted and special instruc-
AUT abbr authorised unit trust
AUT
tions given. Abbreviation ATM

25 avoid
automatic /ɔtəmtk/ adjective surers and the owners 쐽 adjective equal
automatic
working or taking place without any per- to the average of a set of figures 쑗 the av-
son making it happen 쑗 There is an auto- erage increase in salaries 쑗 The average
matic increase in salaries on January 1st. cost per unit is too high. 쑗 The average
automatically /ɔtəmtkli/ adverb
automatically
|
sales per representative are rising. 쐽 verb
without a person giving instructions 쑗 1. to amount to something when the aver-
The invoices are sent out automatically. 쑗 age of a set of figures is worked out 쑗
Addresses are typed in automatically. 쑗 A Price increases have averaged 10% per
demand note is sent automatically when annum. 쑗 Days lost through sickness have
the invoice is overdue. averaged twenty-two over the last four
automatic
automatic data processing
data processing years. 2. to work out an average figure for

/ɔtəmtk detə prəυsesŋ/ noun something
data processing done by a computer ‘…a share with an average rating might
yield 5 per cent and have a PER of about
automatic vending machine
automatic vending machine
10’ [Investors Chronicle]

/ɔtəmtk vendŋ məʃin/ noun a |
‘…the average price per kilogram for this

machine which provides drinks, ciga- season to the end of April has been 300
rettes etc., when a coin is put in cents’ [Australian Financial Review]
automation /ɔtəmeʃ(ə)n/ noun the
automation
|
average out phrasal verb to come to a
use of machines to do work with very lit- figure as an average 쑗 It averages out at
tle supervision by people 10% per annum. 쑗 Sales increases have
autonomous /ɔtɒnəməs/ adjective
autonomous
| averaged out at 15%.

which rules itself 쑗 The workforce in the average adjuster /v(ə)rd$ ə
average adjuster
factory is made up of several autonomous d$stə/ noun a person who calculates

work groups. how much of a maritime insurance is to be
autonomous work group /ɔ
autonomous work group
|
paid by the insurer against a claim
tɒnəməs timw&kŋ/ noun a group of average adjustment /v(ə)rd$ ə
average adjustment
employees who can work independently, d$stmənt/ noun a calculation of the

taking decisions together as a group. Also share of the cost of damage or loss of a
called self-managing team ship that an insurer has to pay
autonomy /ɔtɒnəmi/ noun working
autonomy
average cost pricing /v(ə)rd$

average cost pricing
|
by yourself, without being managed kɒst prasŋ/ noun pricing based on the
availability /əveləblti/ noun the
availability
| |
average cost of producing one unit of a
fact of being easy to obtain 왍 offer sub- product
ject to availability the offer is valid only
average due date /v(ə)rd$ dju
average due date
if the goods are available

det/ noun the average date when several
available / əveləb(ə)l/ adjective able
available
|
different payments fall due
to be obtained or bought 쑗 an item which
averager /vərd$ə/ noun a person
averager
is no longer available 쑗 funds which are

made available for investment in small who buys the same share at various times
businesses 쑗 This product is available in and at various prices to get an average val-
all branches. 쑗 These articles are availa- ue
average-sized /vərd$ sazd/ ad-
average-sized
ble to order only.

available
available capital
capital /əveləb(ə)l |
jective of a similar size to most others, not
kpt(ə)l/ noun capital which is ready very large or very small 쑗 They are an av-
to be used erage-sized company. 쑗 She has an aver-
age-sized office.
average / v(ə)rd$/ noun 1. a number
average
averaging /vərd$ŋ / noun the buy-

averaging
calculated by adding several figures to-

gether and dividing by the number of fig- ing or selling of shares at different times
ures added 쑗 the average for the last three and at different prices to establish an av-
months or the last three months’ average erage price
쑗 sales average or average of sales 2. 왍 avoid /əvɔd/ verb to try not to do
avoid
on average, on an average in general 쑗 something 쑗 My aim is to avoid paying

On average, £15 worth of goods are sto- too much tax. 쑗 We want to avoid direct
len every day. 3. the sharing of the cost of competition with Smith Ltd. 쑗 The com-
damage or loss of a ship between the in- pany is struggling to avoid bankruptcy.
avoidance 26
(NOTE: You avoid something or avoid do- has been announced. 쐽 verb to decide the
ing something.) amount of money to be given to someone
avoidance /əvɔd(ə)ns/ noun the act 쑗 to award someone a salary increase 쑗
avoidance
of trying not to do something or not to pay He was awarded £10,000 damages in the
something 쑗 tax avoidance libel case. 쑗 The judge awarded costs to
avoirdupois /vədəpɔz/ noun a
avoirdupois
|
the defendant. 왍 to award a contract to
non-metric system of weights used in the someone to decide that someone will be
UK, the USA and other countries, whose given the contract
away /əwe/ adverb not here, some-
away
basic units are the ounce, the pound, the |
hundredweight and the ton (NOTE: The where else 쑗 The managing director is
system is now no longer officially used away on business. 쑗 My secretary is away
in the UK) sick. 쑗 The company is moving away from
award /əwɔd/ noun something given its down-market image.
award
axe /ks/ noun 왍 the project got the

axe
by a court, tribunal or other official body,

especially when settling a dispute or axe the project was stopped 쐽 verb to cut
claim 쑗 an award by an industrial tribu- or to stop 쑗 to axe expenditure 쑗 Several
nal 쑗 The arbitrator’s award was set thousand jobs are to be axed. (NOTE: [all
aside on appeal. 쑗 The latest pay award senses] The usual US spelling is ax.)
B
B2B /bi tə bi/ adjective referring to cheque on the back. 쐽 adjective referring
B2B
products or services that are that are to the past 쑗 a back payment 쐽 adverb so
aimed at other businesses rather than at as to make things as they were before 쑗
consumers (NOTE: The word is most He will pay back the money in monthly in-
commonly used of business-to-business stalments. 쑗 The store sent back the
dealings conducted over the Internet.) cheque because the date was wrong. 쑗
B2C /bi tə si/ adjective referring to
B2C
The company went back on its agreement
products or services that are aimed at con- to supply at £1.50 a unit. 쐽 verb 1. to help
sumers rather than at other businesses someone, especially financially 쑗 The
(NOTE: The word is most commonly bank is backing us to the tune of £10,000.
used of business-to-consumer dealings 쑗 She is looking for someone to back her
conducted over the Internet.) project. 2. 왍 to back a bill to sign a bill
promising to pay it if the person it is ad-
baby bonds /bebi bɒndz/ plural
baby bonds
dressed to is not able to do so

noun US bonds in small denominations
which the small investor can afford to buy ‘…the businesses we back range from
start-up ventures to established companies
baby boomer /bebi bumə/ noun a
baby boomer
in need of further capital for expansion’

person born during the period from 1945 [Times]
to 1965, when the population of the UK back out phrasal verb to stop being
and the USA increased rapidly part of a deal or an agreement 쑗 The
back /bk/ noun the opposite side to the bank backed out of the contract. 쑗 We
back
front 쑗 Write your address on the back of had to cancel the project when our Ger-
the envelope. 쑗 Please endorse the man partners backed out.
27 backup
backbone /bkbəυn/ noun a high- back interest /bk ntrəst/ noun in-
backbone back interest
speed communications link for Internet terest which has not yet been paid
communications across an organisation backlog /bklɒ!/ noun an amount of
backlog
or country or between countries work, or of items such as orders or letters,

back burner /bk b&nə/ noun 왍 to which should have been dealt with earlier
back burner
put something on the back burner to but is still waiting to be done 쑗 The ware-
file a plan or document as the best way of house is trying to cope with a backlog of
forgetting about it 쑗 The whole project orders. 쑗 We’re finding it hard to cope
has been put on the back burner. with the backlog of paperwork.
back office /bk ɒfs/ noun 1. the
back office
backdate /bkdet/ verb 1. to put an

backdate
part of a broking firm where the paper-

earlier date on a document such as a work involved in buying and selling
cheque or an invoice 쑗 Backdate your in- shares is processed 2. US the part of a
voice to April 1st. 2. to make something bank where cheques are processed, state-
effective from an earlier date than the cur- ments of account drawn up and other ad-
rent date 쑗 The pay increase is backdated ministrative tasks are done 3. US the gen-
to January 1st. eral administration department of a com-
back-end loaded /bk end ləυdd/
back-end loaded
pany
adjective referring to an insurance or in- back orders /bk ɔdəz/ plural noun
back orders
vestment scheme where commission is orders received and not yet fulfilled, usu-
charged when the investor withdraws his ally because the item is out of stock 쑗 It
or her money from the scheme. Compare took the factory six weeks to clear all the
front-end loaded accumulated back orders.
backer /bkə/ noun 1. a person or back pay /bk pe/ noun a salary
backer
back pay
company that backs someone 쑗 One of which has not been paid 쑗 I am owed
the company’s backers has withdrawn. 2. £500 in back pay.
왍 the backer of a bill the person who back payment /bk pemənt/ noun
back payment
backs a bill 1. a payment which is due but has not yet

background /bk!raυnd/ noun 1. been paid 2. the act of paying money
background
past work or experience 쑗 My back- which is owed

ground is in the steel industry. 쑗 The com- backpedal /bkped(ə)l/ verb to go
backpedal
pany is looking for someone with a back- back on something which was stated ear-
ground of success in the electronics in- lier 쑗 When questioned by reporters
dustry. 쑗 She has a publishing about the redundancies, the MD backped-
background. 쑗 What is his background? alled fast. (NOTE: backpedalling –
쑗 Do you know anything about his back- backpedalled)
ground? 2. past details 쑗 He explained back rent /bk rent/ noun a rent due
back rent
the background of the claim. 쑗 I know the but not paid 쑗 The company owes
contractual situation as it stands now, but £100,000 in back rent.
can you fill in the background details? back tax /bk tks/ noun tax which is
back tax
backhander /bk hndə/ noun a

backhander
| owed
bribe or money given to persuade some- back-to-back loan /bk tə bk
back-to-back loan
one to do something for you (informal) 쑗 ləυn/ noun a loan from one company to
He was accused of taking backhanders another in one currency arranged against
from the company’s suppliers. a loan from the second company to the
backing /bkŋ/ noun support, espe-
backing
first in another currency. Also called par-
cially financial support 쑗 She has the allel loan (NOTE: Back-to-back loans are
backing of an Australian bank. 쑗 The (used by international companies to get
company will succeed only if it has suffi- round exchange controls.)
backtrack /bktrk/ verb to go back
backtrack
cient backing. 쑗 She gave her backing to

the proposal. on what has been said before
backup /bkp/ adjective supporting
backup
‘…the company has received the backing

of a number of oil companies who are will- or helping 쑗 We offer a free backup serv-
ing to pay for the results of the survey’ ice to customers. 쑗 After a series of sales
[Lloyd’s List] tours by representatives, the sales direc-
backup copy 28
tor sends backup letters to all the con- bail out phrasal verb 1. to rescue a
tacts. company which is in financial difficul-
backup copy /bkp kɒpi/ noun a
backup copy
ties 2. 왍 to bail someone out to pay
copy of a computer disk to be kept in case money to a court as a guarantee that
the original disk is damaged someone will return to face charges 쑗
She paid $3,000 to bail him out.
back wages /bk wed$z/ plural
back wages
back wages
noun same as back pay ‘…the government has decided to bail out
the bank which has suffered losses to the
backwardation /bkwədeʃ(ə)n/
backwardation
|
extent that its capital has been wiped out’
noun 1. a penalty paid by the seller when [South China Morning Post]
postponing delivery of shares to the buy- bail-out /be laυt/ noun a rescue of a
bail-out
er. Opposite forwardation 2. a situation company in financial difficulties

where the spot price of a commodity or
balance /bləns/ noun 1. the amount
balance
currency is higher than the futures price

which has to be put in one of the columns
backward integration /bkwəd
backward integration
of an account to make the total debits and

nt!reʃ(ə)n/ noun a process of expan-
|
credits equal 왍 balance in hand cash held
sion in which a business which deals with to pay small debts 왍 balance brought
the later stages in the production and sale down or forward the closing balance of
of a product acquires a business that deals the previous period used as the opening
with an earlier stage in the same process, balance of the current period 왍 balance
usually a supplier 쑗 Buying up rubber carried down or forward the closing
plantations is part of the tyre company’s balance of the current period 2. the rest of
backward integration policy. 쑗 Backward an amount owed 쑗 You can pay £100 de-
integration will ensure cheap supplies but posit and the balance within 60 days. 왍
forward integration would bring us near- balance due to us the amount owed to us
er to the market. Also called vertical in- which is due to be paid 쐽 verb 1. to be
tegration. Opposite forward integra- equal, i.e. the assets owned must always
tion equal the total liabilities plus capital 왍 the
bad bargain /bd bɑ!n/ noun an
bad bargain
February accounts do not balance the

item which is not worth the price asked two sides are not equal 2. to calculate the
bad buy /bd ba/ noun a thing amount needed to make the two sides of
bad buy
bought which was not worth the money an account equal 쑗 I have finished bal-
paid for it ancing the accounts for March. 3. to plan
bad cheque /bd tʃek/ noun a
bad cheque
a budget so that expenditure and income
cheque which is returned to the drawer for are equal 쑗 The president is planning for
any reason a balanced budget.
balanced scorecard / blənst skɔ
balanced scorecard
bad debt /bd det/ noun a debt which

bad debt
|
will not be paid, usually because the debt- kɑd/ noun a system of measurement
or has gone out of business, and which and assessment that uses a variety of indi-
has to be written off in the accounts 쑗 The cators, particularly customer relations, in-
company has written off £30,000 in bad ternal efficiency, financial performance
debts. and innovation, to find out how well an
organisation is doing in its attempts to
bail /bel/ noun payment made to a court
bail
achieve its main objectives

as guarantee that a prisoner will return af-
balance of payments /bləns əv
balance of payments
ter being released. In the United King-

dom, bail is promissory, but in the United pemənts/ noun a comparison between
States it is paid in advance. 쑗 he was re- total receipts and payments arising from a
leased on bail of $3,000 or he was re- country’s international trade in goods,
leased on payment of $3,000 bail 왍 to services and financial transactions. Ab-
stand bail of £3,000 for someone to pay breviation BOP
balance of payments deficit
balance of payments deficit
£3,000 to a court, as a guarantee that

someone will come to face trial (the mon- /bləns əv peməntz defst/ noun a
ey will be kept by the court and is refund- situation when a country imports more
ed if the person comes to face trial) 왍 to than it exports
balance of payments surplus
balance of payments surplus
jump bail not to appear in court after hav-

ing been released on bail /bləns əv pemənts s&pləs/ noun a
29 bank
situation where a country sells more to the shares. 쐽 verb to take a vote by ballot
other countries than it buys from them 쑗 The union is balloting for the post of
balance of trade /bləns əv tred/ president.
balance of trade
ballot box /blət bɒks/ noun a sealed

ballot box
noun a record of the international trading

position of a country in merchandise, ex- box into which ballot papers are put
cluding invisible trade. Also called trade ballot paper /blət pepə/ noun a
ballot paper
balance paper on which the voter marks a cross to

balance sheet /bləns ʃit/ noun a show who they want to vote for
balance sheet
ballot-rigging /blət r!ŋ / noun the

ballot-rigging
statement of the financial position of a

company at a particular time, such as the illegal arranging of the votes in a ballot,
end of the financial year or the end of a so that a particular candidate or party
quarter, showing the company’s assets wins
and liabilities 쑗 Our accountant has pre- ballpark figure /bɔlpɑk f!ə/ noun
ballpark figure
pared the balance sheet for the first half- a general figure which can be used as the
year. 쑗 The company balance sheet for basis for discussion
the last financial year shows a worse po- ban /bn/ noun an order which forbids
ban
sition than for the previous year. 쑗 The someone from doing something 쑗 a gov-
company balance sheet for 1984 shows a ernment ban on the import of weapons 쑗
substantial loss. a ban on the export of farm animals 왍 to
COMMENT: The balance sheet shows the impose a ban on smoking to make an or-
state of a company’s finances at a cer-
tain date. The profit and loss account der which forbids smoking 왍 to lift the
shows the movements which have taken ban on smoking to allow people to
place since the end of the previous ac- smoke 왍 to beat the ban on something
counting period. A balance sheet must to do something which is banned – usual-
balance, with the basic equation that as- ly by doing it rapidly before a ban is im-
sets (i.e. what the company owns, in- posed, or by finding a legal way to avoid
cluding money owed to the company)
must equal liabilities (i.e. what the com- a ban 쐽 verb to forbid something 쑗 The
pany owes to its creditors) plus capital council has banned the sale of alcohol at
(i.e. what it owes to its shareholders). A the sports ground. 쑗 The company has
balance sheet can be drawn up either in banned drinking on company premises.
the horizontal form, with (in the UK) lia- (NOTE: banning – banned)
bilities and capital on the left-hand side
band /bnd/ noun a range of figures
band
of the page (in the USA, it is the reverse)

or in the vertical form, with assets at the with an upper and a lower limit, to which
top of the page, followed by liabilities, something, e.g. the amount of someone’s
and capital at the bottom. Most are usu- salary or the exchange value of a curren-
ally drawn up in the vertical format, as cy, is restricted but within which it can
opposed to the more old-fashioned hori- move 쑗 a salary band
zontal style.
bank /bŋk/ noun 1. a business which
bank
balloon / bəlun/ noun 1. a loan where

balloon
holds money for its clients, lends money

the last repayment is larger than the others at interest, and trades generally in money
2. a large final payment on a loan, after a 쑗 the First National Bank 쑗 the Royal
number of periodic smaller loans Bank of Scotland 쑗 She put all her earn-
balloon mortgage /bəlun
balloon mortgage
|
ings into the bank. 쑗 I have had a letter
mɔ!d$/ noun a mortgage where the fi- from my bank telling me my account is
nal payment (called a ‘balloon payment’) overdrawn. 2. 왍 the World Bank central
is larger than the others bank, controlled by the United Nations,
ballot /blət/ noun 1. an election
ballot
whose funds come from the member

where people vote for someone by mark- states of the UN and which lends money
ing a cross on a paper with a list of names to member states 쐽 verb to deposit money
쑗 Six names were put forward for three into a bank or to have an account with a
vacancies on the committee so a ballot bank 쑗 He banked the cheque as soon as
was held. 2. a vote where voters decide on he received it. 왍 where do you bank?
an issue by marking a piece of paper 3. a where do you have a bank account? 쑗 I
selection made by taking papers at ran- bank at or with Barclays
dom out of a box 쑗 The share issue was bank on phrasal verb to feel sure that
oversubscribed, so there was a ballot for something will happen 쑗 He is banking
bankable 30
on getting a loan from his father to set ment of transactions in which they are
up in business. 쑗 Do not bank on the used.)
sale of your house. bank charges /bŋk tʃɑd$z/ plu-
bank charges
bankable / bŋkəb(ə)l/ adjective ac- ral noun charges which a bank makes for
bankable
ceptable by a bank as security for a loan carrying out work for a customer (NOTE:
bankable paper /bŋkəb(ə)l pepə/
bankable paper
The US term is service charge.)
bank charter /bŋk tʃɑtə/ noun an
bank charter
noun a document which a bank will ac-

cept as security for a loan official government document allowing
the establishment of a bank
bank account /bŋk əkaυnt/ noun
bank account
bank cheque /bŋk tʃek/ noun a

| bank cheque
an account which a customer has with a

bank, where the customer can deposit and bank’s own cheque, drawn on itself and
withdraw money 쑗 to open a bank ac- signed by a bank official
bank clerk /bŋk klɑk/ noun a per-
bank clerk
count 쑗 to close a bank account 쑗 How

much money do you have in your bank ac- son who works in a bank, but is not a
count? 쑗 If you let the balance in your manager
bank credit /bŋk kredt/ noun
bank credit
bank account fall below £100, you have to

pay bank charges. (NOTE: The US term is loans or overdrafts from a bank to a cus-
banking account.) tomer
advance /bŋk ədvɑns/ bank deposits /bŋk dpɒztz/ plu-
bank deposits
bank advance
bank |
|
noun same as bank loan 쑗 She asked for ral noun all money placed in banks by pri-
a bank advance to start her business. vate or corporate customers
bank draft /bŋk drɑft/ noun an or-
bank draft
bank balance /bŋk bləns/ noun

bank balance
the state of a bank account at any particu- der by one bank telling another bank, usu-
lar time 쑗 Our bank balance went into the ally in another country, to pay money to
red last month. someone
banker /bŋkə/ noun 1. a person who
banker
bank base rate /bŋk bes ret/

bank base rate
noun a basic rate of interest, on which the

is in an important position in a bank 2. a
bank 쑗 the company’s banker is Barclays
actual rate a bank charges on loans to its
banker’s bill /bŋkəz bl/ noun an
banker’s bill
customers is calculated. Also called base

rate order by one bank telling another bank,
usually in another country, to pay money
bank bill /bŋk bl/ noun 1. a bill of
bank bill
to someone. Also called bank bill

exchange by one bank telling another
banker’s order /bŋkəz ɔdə/ noun
banker’s order
bank, usually in another country, to pay

money to someone 2. same as banker’s an order written by a customer asking a
bill 3. US same as banknote bank to make a regular payment 쑗 He
pays his subscription by banker’s order.
bank book /bŋk bυk/ noun a book
bank book
banker’s reference /bŋkəz

banker’s reference
given by a bank or building society which ref(ə)rəns/ noun details of a company’s

shows money which you deposit or with- bank, account number, etc., supplied so
draw from your savings account or build- that a client can check if the company is a
ing society account. Also called pass- risk
book
Bank for International Settle-
Bank for International Settlements
bank borrowing /bŋk bɒrəυŋ/

bank borrowing
ments /bŋk fə ntənʃ(ə)nəl |
noun money borrowed from a bank 쑗 The set(ə)lmənts/ noun a bank (based in
new factory was financed by bank bor- Basle) which acts as the clearing bank for
rowing. the central banks of various countries
bank borrowings /bŋk bɒrəυŋz/
bank borrowings
through which they settle their currency

noun money borrowed from banks transactions, and which also acts on be-
bank card /bŋk kɑd/ noun a credit
bank card
half of the IMF. Abbreviation BIS
bank giro / bŋk d$arəυ/ noun a
bank giro
card or debit card issued to a customer by

a bank for use instead of cash when buy- method used by clearing banks to transfer
ing goods or services (NOTE: There are money rapidly from one account to anoth-
internationally recognised rules that er
bank holiday /bŋk hɒlde/ noun a
bank holiday
govern the authorisation of the use of

bank cards and the clearing and settle- weekday which is a public holiday when
31 bank transfer
the banks are closed 쑗 New Year’s Day is the rate at which the Bank of England lent
a bank holiday. 쑗 Are we paid for bank to other banks (then also called the Mini-
holidays in this job? mum Lending Rate (MLR), and now
bank identification number /bŋk called the bank base rate)
bank identification number
adentfkeʃ(ə)n nmbə/ noun an in- bank reconciliation /bŋk

bank reconciliation
ternationally organised six-digit number rekənslieʃ(ə)n/ noun the act of mak-

|
which identifies a bank for charge card ing sure that the bank statements agree
purposes. Abbreviation BIN with the company’s ledgers
banking /bŋkŋ/ noun the business bank reserves /bŋk rz&vz/ noun
banking bank reserves
of banks 쑗 He is studying banking. 쑗 She cash and securities held by a bank to cov-
has gone into banking. 왍 a banking crisis er deposits
a crisis affecting the banks bank return /bŋk rt&n/ noun a
bank return
banking account /bŋkŋ əkaυnt/

banking account
| regular report from a bank on its financial

noun US an account which a customer position
has with a bank bankroll /bŋkrəυl/ verb to provide
bankroll
banking hours /bŋkŋ aυəz/ plural

banking hours
the money that enables something or

noun the hours when a bank is open for its someone to survive (informal ) 쑗 How
customers 쑗 You cannot get money out of long can he go on bankrolling his daugh-
the bank after banking hours. ter’s art gallery?
bank loan /bŋk ləυn/ noun a loan bankrupt /bŋkrpt/ noun, adjective
bank loan bankrupt
made by a bank to a customer, usually (a person) who has been declared by a

against the security of a property or asset court not to be capable of paying his or
쑗 She asked for a bank loan to start her her debts and whose affairs are put into
business. Also called bank advance the hands of a receiver 쑗 a bankrupt prop-
bank manager /bŋk mnd$ə/
bank manager
erty developer 쑗 She was adjudicated or
noun the person in charge of a branch of declared bankrupt. 쑗 He went bankrupt
a bank 쑗 They asked their bank manager after two years in business. 쐽 verb to
for a loan. make someone become bankrupt 쑗 The
bank mandate /bŋk mndet/
bank mandate
recession bankrupted my father.
bankruptcy /bŋkrptsi/ noun the
bankruptcy
noun a written order to a bank, asking it

to open an account and allow someone to state of being bankrupt 쑗 The recession
sign cheques on behalf of the account has caused thousands of bankruptcies.
holder, and giving specimen signatures (NOTE: The plural is bankruptcies.)
and relevant information COMMENT: In the UK, bankruptcy is ap-
plied only to individual persons, but in
banknote /bŋknəυt/ noun 1. a piece
banknote
the USA the term is also applied to cor-

of printed paper money 쑗 a counterfeit porations. In the UK, a bankrupt cannot
£20 note 쑗 He pulled out a pile of used hold public office (for example, they can-
notes. ( NOTE: The US term is bill.) 2. US not be elected an MP) and cannot be the
a non-interest bearing note, issued by a director of a company. They also cannot
borrow money. In the USA, there are two
Federal Reserve Bank, which can be used types of bankruptcy: involuntary, where
as cash the creditors ask for a person or corpora-
Bank of England /bŋk əv ŋlənd/ tion to be made bankrupt; and voluntary,
Bank of England
noun the British central bank, owned by where a person or corporation applies to
be made bankrupt (in the UK, this is
the state, which, together with the Treas- called voluntary liquidation).
ury, regulates the nation’s finances
bankruptcy order /bŋkrptsi
bankruptcy order
COMMENT: The Bank of England issues

banknotes which carry the signatures of ɔdə/ noun same as declaration of
its officials. It is the lender of last resort bankruptcy
to commercial banks and supervises bank statement /bŋk stetmənt/
bank statement
banking institutions in the UK Its Mone- noun a written statement from a bank
tary Policy Committee is independent of
the government and sets interest rates. showing the balance of an account at a
The Governor of the Bank of England is specific date
appointed by the government. bank transfer /bŋk trnsf&/ noun
bank transfer
bank rate /bŋk ret/ noun 1. the dis-

bank rate
an act of moving money from a bank ac-

count rate of a central bank 2. formerly, count to another account
bar 32
bar /bɑ/ noun 1. a thing which stops you bargaining power /bɑ!nŋ paυə/
bar bargaining power
doing something 쑗 Government legisla- noun the strength of one person or group
tion is a bar to foreign trade. 2. the pro- when discussing prices or wage settle-
fession of barrister 왍 to be called to the ments
bar to become a barrister bargain offer /bɑ!n ɒfə/ noun the
bargain offer
bar chart /bɑ tʃɑt/ noun a chart sale of a particular type of goods at a
bar chart
where values or quantities are shown as cheap price 쑗 This week’s bargain offer –
columns of different heights set on a base 30% off all carpet prices.
line, the different lengths expressing the bargain price /bɑ!n pras/ noun a
bargain price
quantity of the item or unit. Also called cheap price 쑗 These carpets are for sale
bar graph, histogram at a bargain price.
bar code /bɑ kəυd/ noun a system of bargain sale /bɑ!n sel/ noun the
bar code bargain sale
lines printed on a product which, when sale of all goods in a store at cheap prices
read by a computer, give a reference bargains done /bɑ!nz dn/ plural
bargains done
number or price noun the number of deals made on the

barely /beəli/ adverb almost not 쑗
barely
Stock Exchange during a day

There is barely enough money left to pay bar graph /bɑ !rɑf/ noun same as
bar graph
the staff. 쑗 She barely had time to call her bar chart
lawyer before the police arrived. barrel /brəl/ noun 1. a large round
barrel
bargain /bɑ!n/ noun 1. an agreement

bargain
container for liquids 쑗 to sell wine by the

on the price of something 쑗 to strike a barrel 쑗 He bought twenty-five barrels of
bargain or to make a bargain 왍 to drive a wine. 2. an amount of liquid contained in
hard bargain to be a difficult person to a barrel 쑗 The price of oil has reached
negotiate with 2. something which is $30 a barrel.
cheaper than usual 쑗 That car is a (real) ‘…if signed, the deals would give effec-
bargain at £500. 3. a sale and purchase of tive discounts of up to $3 a barrel on Saudi
one lot of shares on the Stock Exchange 쐽 oil’ [Economist]
verb to try to reach agreement about ‘US crude oil stocks fell last week by near-
something, especially a price, usually ly 2.6m barrels’ [Financial Times]
with each person or group involved ‘…the average spot price of Nigerian light
putting forward suggestions or offers crude oil for the month of July was 27.21
which are discussed until a compromise is dollars a barrel’ [Business Times (Lagos)]
arrived at 쑗 You will have to bargain with barrier /briə/ noun anything which
barrier
the dealer if you want a discount. 쑗 They makes it difficult for someone to do some-
spent two hours bargaining about or over thing, especially to send goods from one
the price. (NOTE: You bargain with place to another 왍 to impose trade bar-
someone over or about or for some- riers on certain goods to restrict the im-
thing.) port of some goods by charging high duty
bargain basement /bɑ!n
bargain basement
쑗 They considered imposing trade barri-

besmənt/ noun a basement floor in a ers on some food products. 왍 to lift trade
shop where goods are sold cheaply 왍 I’m barriers from imports to remove restric-
selling this at a bargain basement price tions on imports 쑗 The government has
I’m selling this very cheaply lifted trade barriers on foreign cars.
bargain counter /bɑ!n kaυntə/
bargain counter
‘…a senior European Community official

noun a counter in a shop where goods are has denounced Japanese trade barriers,
sold cheaply saying they cost European producers $3
bargain hunter /bɑ!n hntə/ noun
bargain hunter
billion a year’ [Times]
a person who looks for cheap deals ‘…to create a single market out of the EC
member states, physical, technical and tax
bargaining /bɑ!nŋ/ noun the act of
bargaining
barriers to free movement of trade be-

trying to reach agreement about some- tween member states had to be removed.
thing, e.g. a price or a wage increase for Imposing VAT on importation of goods
workers from other member states was seen as one
bargaining position /bɑ!nŋ pə such tax barrier’ [Accountancy]
bargaining position
zʃ(ə)n/ noun the offers or demands barrier to entry /briə tυ entri/
barrier to entry
made by one group during negotiations noun a factor that makes it impossible or
33 basic salary
unprofitable for a company to try to start the calculation 쑗 We based our calcula-
selling its products in a particular market tions on the forecast turnover. 왍 based on
(NOTE: Barriers to entry may be created, calculating from 쑗 based on last year’s
for example, when companies already in figures 쑗 based on population forecasts
a market have patents that prevent their 2. to set up a company or a person in a
goods from being copied, when the cost place 쑗 The European manager is based
of the advertising needed to gain a mar- in our London office. 쑗 Our overseas
ket share is too high, or when an existing branch is based in the Bahamas. 쐽 adjec-
product commands very strong brand tive lowest or first, and used for calculat-
loyalty.) ing others
barrier to exit /briə tυ e!zt/ noun
barrier to exit
‘…the base lending rate, or prime rate, is

a factor that makes it impossible or un- the rate at which banks lend to their top
profitable for a company to leave a market corporate borrowers’ [Wall StreetJournal]
where it is currently doing business ‘…other investments include a large stake
(NOTE: Barriers to exit may be created, in the Chicago-based insurance company’
for example, when a company has in- [Lloyd’s List]
base pay /bes pe/ noun US pay for a
base pay
vested in specialist equipment that is

only suited to manufacturing one prod- job which does not include extras such as
uct, when the costs of retraining its overtime pay or bonuses
workforce would be very high, or when base rate /bes ret/ noun same as
base rate
withdrawing one product would have a bank base rate

bad effect on the sales of other products base year /bes jə/ noun the first year
base year
in the range.) of an index, against which changes occur-

barrister /brstə/ noun (especially in
barrister
ring in later years are measured

England) a lawyer who can speak or ar- basic /besk/ adjective 1. normal 2.
basic
gue a case in one of the higher courts most important 3. simple, or from which
barter /bɑtə / noun a system in which
barter
everything starts 쑗 She has a basic knowl-

goods are exchanged for other goods and edge of the market. 쑗 To work at the cash
not sold for money 쐽 verb to exchange desk, you need a basic qualification in
goods for other goods and not for money maths.
쑗 They agreed a deal to barter tractors basically /beskli/ adverb seen from
basically
for barrels of wine. the point from which everything starts

‘…under the barter agreements, Nigeria basic commodities /besk kə
basic commodities
will export 175,000 barrels a day of crude mɒdtiz/ plural noun ordinary farm pro-
oil in exchange for trucks, food, planes duce, produced in large quantities, e.g.
and chemicals’ [Wall Street Journal]
corn, rice or sugar
barter agreement /bɑtə ə
barter agreement
basic discount /besk dskaυnt/

| basic discount
!rimənt/ noun an agreement to ex- noun a normal discount without extra

change goods by barter 쑗 The company
percentages 쑗 Our basic discount is 20%,
has agreed a barter deal with Bulgaria. but we offer 5% extra for rapid settlement.
bartering /bɑtərŋ/ noun the act of
bartering
basic industry /besk ndəstri/

basic industry
exchanging goods for other goods and not noun the most important industry of a
for money country, e.g. coal, steel or agriculture
base /bes/ noun 1. the lowest or first
base
basic pay /besk pe/ noun a normal

basic pay
position 쑗 Turnover increased by 200%, salary without extra payments

but started from a low base. 2. a place
basic product /besk prɒdkt/
basic product
where a company has its main office or

factory, or a place where a businessper- noun the main product made from a raw
son’s office is located 쑗 The company has material
basics /besks/ plural noun simple
basics
its base in London and branches in all the

European countries. 쑗 She has an office and important facts or principles 쑗 She
in Madrid which he uses as a base while has studied the basics of foreign exchange
travelling in Southern Europe. 쐽 verb 1. dealing. 왍 to get back to basics to con-
왍 to base something on something to sider the main facts or principles again
basic salary /besk sləri/ noun
basic salary
calculate something using something as

your starting point or basic material for same as basic pay
basic wage 34
basic wage /besk wed$/ noun battery /bt(ə)ri/ noun a series of sim-
basic wage battery
same as basic pay 쑗 The basic wage is ilar things 쑗 Candidates have to pass a
£110 a week, but you can expect to earn battery of tests.
more than that with overtime. BC abbr blind copy
BC
basis /bess/ noun 1. a point or b/d abbr barrels per day

basis b/d
number from which calculations are bear /beə/ noun a person who sells
bear
made 쑗 We forecast the turnover on the shares, commodities or currency because

basis of a 6% price increase. (NOTE: The he or she thinks their price will fall and it
plural is bases.) 2. the general terms of will be possible to buy them again more
agreement or general principles on which cheaply later. Opposite bull 쐽 verb 1. to
something is decided or done 쑗 This doc- give interest 쑗 government bonds which
ument should form the basis for an agree- bear 5% interest 2. to have something, es-
ment. 쑗 We have three people working on pecially to have something written on it 쑗
a freelance basis. (NOTE: The plural is an envelope which bears a London post-
bases.) 왍 on a short-term, long-term mark 쑗 a letter bearing yesterday’s date
basis for a short or long period 쑗 He has 쑗 The cheque bears the signature of the
been appointed on a short-term basis. company secretary. 쑗 The share certifi-
basket /bɑskt/ noun a group of pric-
basket
cate bears his name. 3. to pay costs 쑗 The
es or currencies taken as a standard 쑗 the costs of the exhibition will be borne by the
price of the average shopping basket 쑗 company. 쑗 The company bore the legal
The pound has fallen against a basket of costs of both parties. (NOTE: bearing –
European currencies. 쑗 The market bas- bore – has borne)
bearer /beərə/ noun a person who
bearer
ket has risen by 6%.

‘…the weekly adjusted average total bas- holds a cheque or certificate 왍 the cheque
ket price of œ37.89 was just 3p more than is payable to bearer the cheque will be
the week before Christmas’ [The Grocer] paid to the person who holds it, not to any
basket case /bɑskt kes/ noun
basket case
particular name written on it
bearer bond /beərə bɒnd/, bearer
bearer bond
company which is in financial difficulties

and is not likely to recover (informal ) security noun a bond which is payable to
the bearer and does not have a name writ-
basket of currencies /bɑskt əv
basket of currencies
ten on it
krənsiz/ noun same as currency bas-
bearing /beərŋ/ adjective producing
bearing
ket
쑗 certificates bearing interest at 5% 쑗 in-
batch /btʃ/ noun 1. a group of items
batch
terest-bearing deposits
which are made at one time 쑗 This batch bear market /beə mɑkt/ noun a pe-
bear market
of shoes has the serial number 25–02. 2. riod when share prices fall because share-
a group of documents which are proc- holders are selling since they believe the
essed at the same time 쑗 Today’s batch of market will fall further. Opposite bull
invoices is ready to be mailed. 쑗 The fac- market
tory is working on yesterday’s batch of
bear raid /beə red/ noun the act of
bear raid
orders. 쑗 The accountant signed a batch

of cheques. 쑗 We deal with the orders in selling large numbers of shares to try to
bring down prices
batches of fifty at a time. 쐽 verb to put
beat / bit/ verb 왍 to beat a ban to do
beat
items together in groups 쑗 to batch in-

voices or cheques something which is forbidden by doing it
rapidly before the ban is enforced
batch number /btʃ nmbə/ noun a
batch number
become /bkm/ verb to change into

become
number attached to a batch 쑗 When mak- |
something different 쑗 The export market

ing a complaint always quote the batch
number on the packet. has become very difficult since the rise in
the dollar. 쑗 The company became very
batch processing /btʃ prəυsesŋ /
batch processing
profitable in a short time. (NOTE: becom-

noun a system of data processing where ing – became – has become)
information is collected into batches be- begin /b!n/ verb to start 쑗 The com-
begin
fore being loaded into the computer pany began to lose its market share. 쑗 He
batch production /btʃ prə
batch production
| began to write the report which the share-

dkʃən/ noun production in batches holders had asked for. 쑗 The auditors’ re-
35 benefit
port began with a description of the gen- which do not arise from a company’s usu-
eral principles adopted. (NOTE: You be- al activities, e.g. redundancy payments 2.
gin something or begin to do something extraordinary items which are shown in
or begin with something. Note also: be- the profit and loss account below net prof-
ginning – began – has begun.) it after taxation, as opposed to exceptional
beginner /b!nə/ noun a person who items which are included in the figure for
beginner
is starting in a job profit before taxation

beginning /b!nŋ/ noun the first part benchmark /bentʃmɑk/ noun a point
beginning benchmark
쑗 The beginning of the report gives a list or level which is important, and can be
of the directors and their shareholdings. used as a reference when making evalua-
behalf /bhɑf/ noun 왍 on behalf of tions or assessments
behalf
acting for someone or a company 쑗 solic- benchmarking /bentʃmɑkŋ/ noun

benchmarking
itors acting on behalf of the American the practice of measuring the perform-
company 쑗 I am writing on behalf of the ance of a company against the perform-
minority shareholders. 쑗 She is acting on ance of other companies in the same sec-
my behalf. tor. Benchmarking is also used widely in
behind /bhand/ preposition at the
behind
|
the information technology sector to
back or after 쑗 The company is No. 2 in measure the performance of computer-
the market, about £4m behind their rivals. based information systems.
쐽 adverb 왍 the company has fallen be-
beneficial interest /benfʃ(ə)l
beneficial interest
hind with its deliveries it is late with its

deliveries ntrəst/ noun a situation where someone
is allowed to occupy or receive rent from
believe / bliv/ verb to think that some-
believe
|
a house without owning it
thing is true 쑗 We believe he has offered
beneficial occupier /benfʃ(ə)l
beneficial occupier
to buy 25% of the shares. 쑗 The chairman

is believed to be in South America on ɒkjυpaə/ noun a person who occupies a
business. property but does not own it fully
belong /blɒŋ/ verb 1. 왍 to belong to beneficiary /benfʃəri/ noun a per-
belong beneficiary
| |
to be the property of 쑗 The company be- son who gains money from something 쑗
longs to an old American banking family. the beneficiaries of a will
쑗 The patent belongs to the inventor’s benefit /benft/ noun 1. payments
benefit
son. 2. 왍 to belong with to be in the cor- which are made to someone under a na-
rect place with 쑗 Those documents be- tional or private insurance scheme 쑗 She
long with the sales reports. receives £75 a week as unemployment
below /bləυ/ preposition lower down
below
|
benefit. 쑗 Sickness benefit is paid month-
than or less than 쑗 We sold the property at ly. 쑗 The insurance office sends out bene-
below the market price. 쑗 You can get a fit cheques each week. 2. something of
ticket for New York at below £150 on the value given to an employee in addition to
Internet. 쑗 The company has a policy of their salary 쐽 verb 1. to make better or to
paying staff below the market rates. improve 쑗 A fall in inflation benefits the
below the line /bləυ ðə lan/ adjec- exchange rate. 2. 왍 to benefit from or by
below the line
tive, adverb used to describe entries in a something to be improved by something,

company’s profit and loss account that to gain more money because of some-
show how the profit is distributed, or thing 쑗 Exports have benefited from the
where the funds to finance the loss origi- fall in the exchange rate. 쑗 The employ-
nate. 쒁 above the line 1 ees have benefited from the profit-sharing
below-the-line advertising /bləυ
below-the-line advertising
| scheme.
ðə lan dvətazŋ/ noun advertising ‘…the retail sector will also benefit from
which is not paid for and for which no the expected influx of tourists’
commission is paid to the advertising [Australian Financial Review]
agency, e.g. work by staff who are man- ‘…what benefits does the executive derive
ning an exhibition. Compare above-the- from his directorship? Compensation has
line advertising increased sharply in recent years and
below-the-line expenditure /bləυ
below-the-line expenditure
| fringe benefits for directors have prolifer-

ðə lan kspendtʃə/ noun 1. payments
| ated’ [Duns Business Month]
benefit-cost analysis 36
‘…salary is negotiable to £30,000, plus car and determining which method is most
and a benefits package appropriate to this efficient and effective.)
senior post’ [Financial Times] best-seller /best selə/ noun an item
best-seller
‘California is the latest state to enact a pro- (especially a book) which sells very well
gram forcing welfare recipients to work best-selling /best selŋ/ adjective
best-selling
for their benefits’ [Fortune] selling better than any other 쑗 These com-
‘…salary range is $54,957 – $81,189, with puter disks are our best-selling line.
a competitive benefits package’
best value /best vlju/ noun a sys-
best value
[Washington Post]
tem adopted by the UK government to en-
benefit-cost analysis /benft
benefit-cost analysis
sure that local authorities provide services

kɒst/ noun same as cost-benefit analy- to the public in the most efficient and
sis cost-effective way possible (NOTE: Best
benefit in kind /benft n kand/
benefit in kind
value, which came into force with the Lo-

noun a benefit other than money received cal Government Act 1999, replaced the
by an employee as part of his or her total previous system of compulsory compet-
compensation package, e.g. a company itive tendering (CCT). It requires local
car or private health insurance. Such ben- authorities to review all their services
efits are usually subject to tax. over a five-year period, to set standards
bequeath /bkwið/ verb to leave
bequeath
| of performance, and to consult with local

property, money, etc. (but not freehold taxpayers and service users.)
land) to someone in a will bet /bet/ noun an amount deposited
bet
bequest / bkwest/ noun something when you risk money on the result of a
bequest
such as property or money (but not free- race or of a game 쐽 verb to risk money on
hold land), given to someone in a will 쑗 the result of something 쑗 He bet £100 on
He made several bequests to his staff. the result of the election. 쑗 I bet you £25
bespoke /bspəυk/ adjective made to
bespoke
|
the dollar will rise against the pound.
better /betə/ adjective very good com-
better
order or made to fit the requirements of

the customer pared with something else 쑗 This year’s
best /best/ adjective very good, better
best
results are better than last year’s. 쑗 We
than all others 쑗 His best price is still will shop around to see if we can get a
higher than all the other suppliers. 쑗 Last better price.
Better Business Bureau /betə
Better Business Bureau
year was the company’s best year ever. 쐽

noun a very good effort 쑗 The salesmen bzns bjυərəυ/ US an organisation of
are doing their best, but the stock simply local business executives that promotes
will not sell at that price. better business practices in their town
betting tax /betŋ tks/ noun a tax
betting tax
best-before date / best b fɔ det/

best-before date
noun the date stamped on the label of a levied on betting on horses, dogs, etc.
food product, which is the last date on (NOTE: betting – bet – has bet)
beware / bweə/ verb to be careful
beware
which the product is guaranteed to be of |
good quality. 쒁 sell-by date, use-by b/f abbr brought forward

b/f
date bi- /ba/ prefix twice 왍 bi-monthly twice

bi-
best-in-class /best n klɑs/ adjec- a month 왍 bi-annually twice a year

best-in-class
tive more effective and efficient, especial- bias /baəs/ noun the practice of fa-
bias
ly in acquiring and processing materials vouring of one group or person rather

and in delivering products or services to than another 쑗 A postal survey will do
customers, than any other organisation in away with bias. 쑗 The trainee interview-
the same market or industrial sector ers were taught how to control bias and
best practice /best prkts/ noun its effects. 쑗 Management has shown bias
best practice
the most effective and efficient way to do in favour of graduates in its recent ap-
something or to achieve a particular aim pointments.
bid /bd/ noun 1. an offer to buy some-
bid
(NOTE: In business, best practice is often

determined by benchmarking, that is by thing at a specific price. 쒁 takeover bid 왍
comparing the method one organisation to make a bid for something to offer to
uses to carry out a task with the meth- buy something 쑗 We made a bid for the
ods used by other similar organisations house. 쑗 The company made a bid for its
37 bill of exchange
rival. 왍 to make a cash bid to offer to pay considers the future consequences of ac-
cash for something 왍 to put in or enter a tion taken now (informal )
bid for something to offer to buy some- bilateral /balt(ə)rəl/ adjective be-
bilateral
thing, usually in writing 2. an offer to sell tween two parties or countries 쑗 The min-
something or do a piece of work at a spe- ister signed a bilateral trade agreement.
cific price 쑗 She made the lowest bid for bill /bl/ noun 1. a written list of charges
bill
the job. 쐽 verb to offer to buy 왍 to bid for to be paid 쑗 The sales assistant wrote out
something (at an auction) to offer to buy the bill. 쑗 Does the bill include VAT? 쑗
something 왍 he bid £1,000 for the jewels The bill is made out to Smith Ltd. 쑗 The
he offered to pay £1,000 for the jewels builder sent in his bill. 쑗 She left the
bidder /bdə/ noun a person who
bidder
country without paying her bills. 2. a list

makes a bid, usually at an auction 쑗 Sev- of charges in a restaurant 쑗 Can I have the
eral bidders made offers for the house. 왍 bill please? 쑗 The bill comes to £20 in-
the property was sold to the highest cluding service. 쑗 Does the bill include
bidder to the person who had made the service? 쑗 The waiter has added 10% to
highest bid or who offered the most mon- the bill for service. 3. a written paper
ey 왍 the tender will go to the lowest bid- promising to pay money 왍 bills payable
der to the person who offers the best (B or P) bills, especially bills of ex-
terms or the lowest price for services change, which a company will have to
bidding /bdŋ/ noun the act of making
bidding
pay to its creditors 왍 bills receivable (B
offers to buy, usually at an auction 왍 the or R) bills, especially bills of exchange,
bidding started at £1,000 the first and which are due to be paid by a company’s
lowest bid was £1,000 왍 the bidding debtors 왍 due bills bills which are owed
stopped at £250,000 the last bid, i.e. the but not yet paid. 쒁 bill of exchange 4.
US same as banknote 쑗 a $5 bill (NOTE:
successful bid, was for £250,000 왍 the
The UK term is note or banknote.) 5. a
auctioneer started the bidding at £100
the auctioneer suggested that the first bid draft of a new law which will be discussed
in Parliament 쐽 verb to present a bill to
should be £100
someone so that it can be paid 쑗 The
bid price /bd pras/ noun a price at
bid price
plumbers billed us for the repairs.

which investors sell shares or units in a bill broker /bl brəυkə/ noun a dis-
bill broker
unit trust (NOTE: The opposite, i.e. the count house, a firm which buys and sells
buying price, is called the offer price; bills of exchange for a fee
the difference between the two is the
billing /blŋ/ noun the work of writing
billing
spread.)
invoices or bills
Big Bang /b! bŋ/ noun 1. the
Big Bang
billion /bljən/ noun one thousand mil-

billion
change in practices on the London Stock lion (NOTE: In the USA, it has always
Exchange, with the introduction of elec- meant one thousand million, but in UK
tronic trading on October 27th 1986 2. a English it formerly meant one million mil-
similar change in financial practices in lion, and it is still sometimes used with
another country this meaning. With figures it is usually
COMMENT: The changes included the ab- written bn: $5bn say ‘five billion dol-
olition of stock jobbers and the removal lars’.)
of the system of fixed commissions. The
Stock Exchange trading floor closed and ‘…gross wool receipts for the selling sea-
deals are now done by phone or compu- son to end June 30 appear likely to top $2
ter or on the Internet. billion’ [Australian Financial Review]
big box store /b! bɒks stɔ/ noun a ‘…at its last traded price the bank was cap-
big box store
large retail superstore that sells a very italized at around $1.05 billion’ [South
wide range of merchandise from grocer- China Morning Post]
bill of exchange /bl əv kstʃend$/
bill of exchange
ies to refrigerators or televisions |
noun a document, signed by the person

big business /b! bzns/ noun very
big business
authorising it, which tells another person

large commercial firms or a financial institution to pay money un-
big picture /b! pktʃə/ noun a broad
big picture
conditionally to a named person on a spe-

view of a subject that takes into account cific date (NOTE: Bills of exchange are
all the factors that are relevant to it and usually used for payments in foreign cur-
bill of lading 38
rency.) 왍 to accept a bill to sign a bill of BIS abbr Bank for International Settle-
BIS
exchange to show that you promise to pay ments

it 왍 to discount a bill to buy or sell a bill bit /bt/ noun a piece of information or
bit
of exchange at a lower price than that knowledge

written on it in order to cash it later
black economy /blk kɒnəmi/
black economy
COMMENT: A bill of exchange is a docu-

ment raised by a seller and signed by a noun goods and services which are paid
purchaser, stating that the purchaser ac- for in cash, and therefore not declared for
cepts that he owes the seller money, and tax. Also called hidden economy, par-
promises to pay it at a later date. The allel economy, shadow economy
person raising the bill is the ‘drawer’; the
Black Friday /blk frade/ noun a
Black Friday
person who accepts it is the ‘drawee’.

The seller can then sell the bill at a dis- sudden collapse on a stock market (NOTE:
count to raise cash. This is called a Called after the first major collapse of
‘trade bill’. A bill can also be accepted the US stock market on 24th Septem-
(i.e. guaranteed) by a bank, and in this ber, 1869.)
case it is called a ‘bank bill’.
black list /blk lst/ noun a list of
black list
bill of lading /bl əv ledŋ/ noun a

bill of lading
goods, people or companies which have

list of goods being shipped, which the been blacked
transporter gives to the person sending the
blacklist /blklst/ verb to put goods,
blacklist
goods to show that the goods have been people or a company on a black list 쑗
loaded Their firm was blacklisted by the govern-
bill of sale /bl əv sel/ noun a docu-
bill of sale
ment.
ment which the seller gives to the buyer to black market /blk mɑkt/ noun
black market
show that the sale has taken place the buying and selling of goods or curren-
bin /bn/ noun 1. a large container 2. a
bin
cy in a way which is not allowed by law 쑗

separate section of shelves in a warehouse There is a flourishing black market in
BIN
BIN abbr bank identification number spare parts for cars. 왍 to pay black mar-
bin card /bn kɑd/ noun a stock
bin card
ket prices to pay high prices to get items
record card in a warehouse which are not easily available
Black Monday /blk mnde/ noun
Black Monday
bind /band / verb 1. to tie or to attach 2.

bind
Monday, 19th October, 1987, when world

to make it a legal duty for someone or stock markets crashed
something to act in a particular way 쑗 The
Black Tuesday /blk tjuzde/
Black Tuesday
company is bound by its articles of asso-

ciation. 쑗 He does not consider himself noun Tuesday, 29th October, 1929, when
bound by the agreement which was signed the US stock market crashed
Black Wednesday /blk wenzde/
Black Wednesday
by his predecessor. (NOTE: [all senses]

binding – bound) noun Wednesday, 16th September, 1992,
binder /bandə/ noun US 1. a tempo-
binder
when the pound sterling left the European
rary agreement for insurance sent before Exchange Rate Mechanism and was de-
the insurance policy is issued ( NOTE: The valued against other currencies
COMMENT: Not always seen as ‘black’,
UK term is cover note.) 2. money paid since some people believe it was a good
as part of the initial agreement to pur- thing that the pound left the ERM.
chase property (NOTE: The UK term is blame /blem/ noun the act of saying
blame
deposit.) that someone has done something wrong

binding /bandŋ/ adjective being a le-
binding
or that someone is responsible 쑗 The

gal requirement that someone does some- sales staff got the blame for the poor sales
thing 쑗 a binding contract 쑗 This docu- figures. 쐽 verb to say that someone has
ment is not legally binding. 왍 the agree- done something wrong or is responsible
ment is binding on all parties all parties for a mistake 쑗 The managing director
signing it must do what is agreed blamed the chief accountant for not warn-
biomimicry /baəυmmkri/ noun
biomimicry
|
ing her of the loss. 쑗 The union is blaming
the imitation of natural processes in the the management for poor industrial rela-
organisation of business activities, with tions.
blamestorming /blemstɔmŋ/
blamestorming
the aim of reducing waste and limiting

their impact on the environment noun a group discussion of the reasons
39 blur
why a project has failed or is late and who the same time 쑗 The company has a block
is to blame for it (slang) (NOTE: The term booking for twenty seats on the plane or
is modelled on the word ‘brainstorm- for ten rooms at the hotel.
ing’.) block capitals / blɒk kpt(ə)lz/,
block capitals
blank /blŋk / adjective with nothing block letters /blɒk letəz/ plural noun
blank
written on it 쐽 noun a space on a form capital letters such as A, B, C 쑗 Write

which has to be completed 쑗 Fill in the your name and address in block letters.
blanks and return the form to your local blocked currency /blɒkt krənsi/
blocked currency
office. noun a currency which cannot be taken

blank cheque /blŋk tʃek/ noun a
blank cheque
out of a country because of government

cheque with the amount of money and the exchange controls 쑗 The company has a
payee left blank, but signed by the drawer large account in blocked roubles.
blanket agreement /blŋkt ə block vote /blɒk vəυt/ noun the cast-
blanket agreement block vote
!rimənt/ noun an agreement which ing of a large number of votes (such as of

covers many different items a trade union delegation) all together in
blanket insurance (cover) the same way
blanket insurance
/blŋkt nʃυərəns kvə/ noun insur-

|
blog /blɒ!/ noun same as web log
blog
ance which covers various items such as a (informal)

house and its contents Blue Book /blu bυk/ noun 1. an an-
Blue Book
blanket refusal /blŋkt r

blanket refusal
|
nual publication of national statistics of
fjuz(ə)l/ noun a refusal to accept many personal incomes and spending patterns
different items 2. US a document reviewing monetary
blind copy /bland kɒp/ noun a copy
blind copy
policy, prepared for the Federal Reserve

of an e-mail that its main addressee does blue chip /blu tʃp/ noun a very safe
blue chip
not know has been sent investment, a risk-free share in a good

blindside /blandsad/ verb to attack a
blindside
company
competitor unexpectedly and in a way blue-chip investments /blu tʃp n
blue-chip investments
which it is difficult to respond to vestmənts/, blue-chip shares /blu

blind testing /bland testŋ/ noun tʃp seəz/, blue-chips /blu tʃps/ plu-
blind testing
the practice of testing a product on con- ral noun low-risk shares in good compa-
sumers without telling them what brand it nies
is blue-collar union /blu kɒlə
blue-collar union
blip /blp/ noun 1. a short period when junjən/ noun a trade union formed
blip
movement forwards or upwards is mainly of blue-collar workers

stopped 쑗 This month’s bad trade figures blue-collar worker /blu kɒlə
blue-collar worker
are only a blip. 2. bad economic figures (a w&kə/ noun a manual worker in a facto-
higher inflation rate, lower exports, etc.), ry
which only have a short-term effect
Blue Laws /blu lɔz/ plural noun US
Blue Laws
‘…whether these pressures are just a cycli- regulations governing business activities
cal blip in a low inflation era, or whether on Sundays
the UK is drifting back to the bad old days
blueprint /bluprnt/ noun a plan or
blueprint
will be one of the crucial questions for the

stock market this year’ [Financial Times] model of something 쑗 The agreement will
blister pack /blstə pk/ noun a type
blister pack
be the blueprint for other agreements in
of packing where the item for sale is cov- the industry.
blue-sky thinking /blu ska
blue-sky thinking
ered with a stiff plastic cover sealed to a

card backing. Also called bubble pack θŋkŋ/ noun extremely idealistic and
block /blɒk/ noun a series of items often unconventional ideas
block
bluetooth /blutuθ/ trademark a type

bluetooth
grouped together 쑗 I bought a block of

6,000 shares. 쐽 verb to stop something of technology allowing for communica-
taking place 쑗 He used his casting vote to tion between mobile phones, computers
block the motion. 쑗 The planning commit- and the Internet
tee blocked the redevelopment plan. blur /bl&/ noun a period in which a great
blur
block booking /blɒk bυkŋ/ noun an

block booking
many important changes take place in an

act of booking of several seats or rooms at organisation very quickly
blurb 40
blurb /bl&b/ noun a brief description of bonded /bɒndd/ adjective held in
blurb bonded
a book, printed in a publisher’s catalogue bond

or on the cover of the book itself bonded warehouse
bonded warehouse /bɒndd

bn abbr billion weəhaυs/ noun a warehouse where
bn
boarding card /bɔdŋ kɑd/,

boarding card
goods are stored until excise duty has

boarding pass /bɔdŋ pɑs/ noun a been paid
card given to passengers who have bondholder /bɒndhəυldə/ noun a
bondholder
checked in for a flight or for a sailing to person who holds government bonds
allow them to board the plane or ship
bond-washing /bɒnd wɒʃŋ/ noun
bond-washing
board meeting /bɔd mitŋ/ noun a

board meeting
the act of selling securities cum dividend

meeting of the directors of a company and buying them back later ex dividend,
board of directors /bɔd əv da
board of directors
|
or selling US Treasury bonds with the in-
rektəz/ noun 1. a group of directors terest coupon, and buying them back ex-
elected by the shareholders to run a com- coupon, so as to reduce tax
pany 쑗 The bank has two representatives
bonus /bəυnəs/ noun an extra payment
bonus
on the board of directors. 2. US a group

of people elected by the shareholders to in addition to a normal payment
bonus issue /bəυnəs ʃu/ noun a
bonus issue
draw up company policy and to appoint

the president and other executive officers scrip issue or capitalisation issue, where a
who are responsible for managing the company transfers money from reserves
company to share capital and issues free extra
‘…a proxy is the written authorization an shares to the shareholders. The value of
investor sends to a stockholder meeting the company remains the same, and the
conveying his vote on a corporate resolu- total market value of shareholders’ shares
tion or the election of a company’s board remains the same, the market price being
of directors’ [Barrons] adjusted to account for the new shares.
boardroom /bɔdrum/ noun a room Also called share split (NOTE: The US
boardroom
where the directors of a company meet term is stock dividend or stock split.)
/bɔdrum bonus share /bəυnəs ʃeə/ noun an
bonus share
boardroom battle
boardroom battle
bt(ə)l/ noun an argument between di- extra share given to an existing sharehold-
rectors er
boilerplate /bɔləplet/ noun a basic book /bυk/ noun 1. a set of sheets of pa-
boilerplate book
standard version of a contract that can be per attached together 왍 a company’s

used again and again books the financial records of a company
bona fide /bəυnə fadi/ adjective 2. a statement of a dealer’s exposure to
bona fide
trustworthy, which can be trusted 왍 a the market, i.e. the amount which he or
bona fide offer an offer which is made she is due to pay or has borrowed 쐽 verb
honestly to order or to reserve something 쑗 to book
bond /bɒnd/ noun 1. a contract docu-
bond
a room in a hotel or a table at a restaurant
ment promising to repay money borrowed or a ticket on a plane 쑗 I booked a table
by a company or by the government on a for 7.45. 쑗 He booked a ticket through to
specific date, and paying interest at regu- Cairo. 왍 to book someone into a hotel,
lar intervals 2. 왍 goods (held) in bond on or onto a flight to order a room or a
goods held by customs until duty has been plane ticket for someone else 쑗 He was
paid 왍 entry of goods under bond bring- booked on the 09.00 flight to Zurich. 왍
ing goods into a country in bond 왍 to take the hotel, the flight is fully booked, is
goods out of bond to pay duty on goods booked up all the rooms or seats are re-
so that they can be released by customs served 쑗 The restaurant is booked up over
COMMENT: Bonds are in effect another
the Christmas period.
booking /bυkŋ/ noun the act of re-
booking
form of long-term borrowing by a compa-

ny or government. They can carry a fixed serving something such as a room or a
interest or a floating interest, but the seat 쑗 Hotel bookings have fallen since
yield varies according to the price at
which they are bought; bond prices go the end of the tourist season. 왍 to con-
up and down in the same way as share firm a booking to say that a booking is
prices. certain
41 Boston Box
booking clerk /bυkŋ klɑk/ noun a borderless world / bɔdələs w&ld/
booking clerk borderless world
person who sells tickets in a booking of- noun the global economy in the age of the
fice Internet, which is thought to have re-
bookkeeper /bυkkipə/ noun a per- moved all the previous barriers to interna-
bookkeeper
son who keeps the financial records of a tional trade

borderline case /bɔdəlan kes/
borderline case
company or an organisation
bookkeeping /bυkkipŋ / noun the
bookkeeping
noun 1. a situation which is not easy to re-
work of keeping the financial records of a solve, being either one way or the other 2.
company or an organisation a worker who may or may not be recom-
booklet /bυklət/ noun a small book
booklet
mended for a particular type of treatment,
such as for promotion or dismissal
with a paper cover
borrow /bɒrəυ/ verb to take money
borrow
book sales /bυk selz/ plural noun

book sales
from someone for a time, possibly paying

sales as recorded in the sales book interest for it, and repaying it at the end of
book value /bυk vlju/ noun the
book value
the period 쑗 She borrowed £1,000 from

value of an asset as recorded in the com- the bank. 쑗 The company had to borrow
pany’s balance sheet heavily to repay its debts. 쑗 They bor-
bookwork /bυkw&k/ noun the keep-
bookwork
rowed £25,000 against the security of the

ing of financial records factory.
boom /bum/ noun a time when sales, borrow short phrasal verb to borrow
boom
production or business activity are infor a short period

creasing 쑗 a period of economic boom 쑗 borrower /bɒrəυə/ noun a person who
borrower
the boom of the 1990s 왍 the boom years borrows 쑗 Borrowers from the bank pay
years when there is an economic boom 쐽 12% interest.
verb to expand or to become prosperous borrowing /bɒrəυŋ/ noun the action
borrowing
쑗 business is booming 쑗 sales are boom- of borrowing money 쑗 The new factory
ing was financed by bank borrowing.
boom industry /bum ndəstri/
boom industry
‘…we tend to think of building societies as

noun an industry which is expanding rap- having the best borrowing rates and indeed
idly many do offer excellent terms’
booming /bumŋ/ adjective expand-
booming
[Financial Times]
borrowing costs /bɒrəυŋ kɒsts/
borrowing costs
ing or becoming prosperous 쑗 a booming

industry or company 쑗 Technology is a plural noun the interest and other charges
booming sector of the economy. paid on money borrowed
boom share /bum ʃeə/ noun a share borrowing power /bɒrəυŋ paυə/
borrowing power
boom share
in a company which is expanding noun the amount of money which a com-

boost /bust/ noun help given to in-
boost
pany can borrow
borrowings /bɒrəυŋz/ plural noun
borrowings
crease something 쑗 This publicity will

give sales a boost. 쑗 The government money borrowed 쑗 The company’s bor-
hopes to give a boost to industrial devel- rowings have doubled.
opment. 쐽 verb to make something in- COMMENT: Borrowings are sometimes
shown as a percentage of shareholders’
crease 쑗 We expect our publicity cam- funds (i.e. capital and money in re-
paign to boost sales by 25%. 쑗 The com- serves); this gives a percentage which is
pany hopes to boost its market share. 쑗 the ‘gearing’ of the company.
Incentive schemes are boosting produc- boss /bɒs/ noun an employer or person
boss
tion. in charge of a company or an office

‘…the company expects to boost turnover (informal) 쑗 If you want a pay rise, go
this year to FFr 16bn from FFr 13.6bn last and talk to your boss.
year’ [Financial Times] Boston Box /bɒstən bɒks/ noun a
Boston Box
booth /buð/ noun 1. a small place for

booth
system used to indicate a company’s po-

one person to stand or sit 2. US a section tential by analysing the relationship be-
of a commercial fair where a company ex- tween its market share and its growth rate
hibits its products or services (NOTE: The (NOTE: The Boston Box was devised by
UK term is stand.) the Boston Consulting Group in the
BOP
BOP abbr balance of payments 1970s to help companies decide which

Boston matrix 42
businesses they should invest in and ey in the payer’s account to pay it 쑗 She
which they should withdraw from. In this paid for the car with a cheque that
system businesses with a high market bounced.
share and high growth rate are called boutique /butik/ noun a small finan-
boutique
stars, businesses with a low market cial institution offering specialist advice
share and low growth rate are called or services
dogs, businesses with a high market
box file /bɒks fal/ noun a cardboard
box file
share and a low growth rate are called

cash cows and businesses with a low box for holding documents
box number /bɒks nmbə/ noun a
box number
market share and a high growth rate are

called question marks.) reference number used when asking for
Boston matrix /bɒstən metrks/
Boston matrix
mail to be sent to a post office or when
noun a type of product portfolio analysis, asking for replies to an advertisement to
in which products are identified as stars, be sent to the newspaper’s offices 쑗
question marks, cash cows or dogs. Full Please reply to Box No. 209.
box office / bɒks ɒfs/ noun an office
box office
form Boston Consulting Group

Share/Growth Matrix at a theatre where tickets can be bought
bottleneck /bɒt(ə)lnek/ noun a situa- boycott /bɔkɒt/ noun a refusal to buy
boycott
bottleneck
tion which occurs when one section of an or to deal in certain products 쑗 The union
operation cannot cope with the amount of organised a boycott against or of import-
work it has to do, which slows down the ed cars. 쐽 verb to refuse to buy or deal in
later stages of the operation and business a product 쑗 We are boycotting all imports
activity in general 쑗 a bottleneck in the from that country. 왍 the management
supply system 쑗 There are serious bottle- has boycotted the meeting the manage-
necks in the production line. ment has refused to attend the meeting
bottom /bɒtəm/ noun the lowest part
B/P
B/P abbr bills payable

bottom
or point 왍 the bottom has fallen out of B/R
B/R abbr bills receivable

the market sales have fallen below what
bracket /brkt/ noun a group of items
bracket
previously seemed to be the lowest point

or people taken together 왍 people in the
왍 rock-bottom price the lowest price of middle-income bracket people with av-
all 왍 to go bottom up to crash or to go
erage incomes, not high or low 왍 she is in
into liquidation 쐽 verb to reach the lowest
point the top tax bracket she pays the highest
level of tax
bottom line / bɒtəm lan/ noun 1. the
bottom line
bracket together phrasal verb to treat

last line on a balance sheet indicating several items together in the same way
profit or loss 2. the final decision on a 쑗 In the sales reports, all the European
matter 쑗 The bottom line was that the countries are bracketed together.
work had to completed within budget.
brainstorming /brenstɔmŋ/ noun
brainstorming
bottom price /bɒtəm pras/ noun the

bottom price |
an intensive discussion by a small group

lowest price of people as a method of producing new
bottom-up approach /bɒtəm p ə
bottom-up approach
|
ideas or solving problems
prəυtʃ/ noun a style of leadership that branch /brɑntʃ/ noun 1. the local of-
branch
encourages employees at all levels to take fice of a bank or large business, or a local
part in decision-making and problem- shop which is part of a large chain 2. the
solving. Opposite top-down approach local office of a union, based in a factory
bought /bɔt/ 쏡 buy
bought
branch out phrasal verb to start a new

bought ledger /bɔt led$ə/ noun a
bought ledger
but usually related type of business 쑗

book in which purchases are recorded From car retailing, the company
bought ledger clerk /bɔt led$ə branched out into car leasing.
bought ledger clerk
klɑk/ noun an office employee who branch manager
branch manager /brɑntʃ

deals with the bought ledger or the sales mnd$ə/ noun a person in charge of a
ledger branch of a company
bounce /baυns/ verb to be returned by
bounce
‘…a leading manufacturer of business, in-

the bank to the person who has tried to dustrial and commercial products requires
cash it, because there is not enough mon- a branch manager to head up its mid-west-
43 breakdown
ern Canada operations based in Winnipeg’ breach /britʃ/ noun a failure to carry
breach
[Globe and Mail (Toronto)] out the terms of an agreement

branch office /brɑntʃ ɒfs/ noun a of contract /britʃ əv
branch office
breach
breach of contract
less important office, usually in a differ- kɒntrkt/ noun the failure to do some-
ent town or country from the main office thing which has been agreed in a contract
brand /brnd/ noun a make of product, breach of trust /britʃ əv trst/
brand breach of trust
which can be recognised by a name or by noun a situation where a person does not
a design 쑗 the top-selling brands of tooth- act correctly or honestly when people ex-
paste 쑗 The company is launching a new pect him or her to
brand of soap. breach of warranty /britʃ əv
breach of warranty
‘…the multiple brought the price down to wɒrənti/ noun the act of supplying
£2.49 in some stores. We had not agreed to goods which do not meet the standards of
this deal and they sold out very rapidly. the warranty applied to them
When they reordered we would not give it break /brek/ noun 1. a pause between
break
to them. This kind of activity is bad for the periods of work 쑗 She keyboarded for two
brand and we cannot afford it’
[The Grocer] hours without a break. 쑗 He typed for two
hours without a break. 2. a lucky deal or
‘…you have to look much further down good opportunity 쐽 verb 1. 왍 to break
the sales league to find a brand which has
not been around for what seems like ages’
even to balance costs and receipts, but not
[Marketing] make a profit 쑗 Last year the company
only just broke even. 쑗 We broke even in
‘…major companies are supporting their
best existing brands with increased invest- our first two months of trading. (NOTE:
ment’ [Marketing Week] breaking – broke – has broken) 2. to
fail to carry out the duties of a contract 쑗
brand awareness /brnd ə
brand awareness
|
The company has broken the contract or
weənəs/ noun consciousness by the the agreement by selling at a lower price.
public of a brand’s existence and qualities (NOTE: breaking – broke – has broken)
쑗 How can you talk about brand aware- 왍 to break an engagement to do some-
ness when most people don’t even know thing not to do what has been agreed 3. to
what the product is supposed to do? 쑗 cancel a contract 쑗 The company is hop-
Our sales staff must work harder to ining to be able to break the contract.
crease brand awareness in this area. (NOTE: breaking – broke – has broken)
branded goods /brndd !υdz/
branded goods
break down phrasal verb 1. to stop

plural noun goods sold under brand working because of mechanical failure
names 쑗
The fax machine has broken down. 2.
brand image /brnd md$/ noun an to stop 쑗 Negotiations broke down after
brand image
opinion of a product which people associ- six hours. 3. to show all the items in a
ate in their minds with the brand name. total list of costs or expenditure 쑗 We
Brand image is developed and protected broke the expenditure down into fixed
carefully by companies to make sure that and variable costs.
their product or service is adopted by its break off phrasal verb to stop 쑗 We
target customers. broke off the discussion at midnight. 쑗
brand leader /brnd lidə/ noun the
brand leader
Management broke off negotiations
brand with the largest market share with the union.
break up phrasal verb 1. to split some-
brand loyalty /brnd lɔəlti/ noun
brand loyalty
thing large into small sections 쑗 The

the feeling of trust and satisfaction that company was broken up and separate
makes a customer always buy the same divisions sold off. 2. to come to an end
brand of product 쑗 The meeting broke up at 12.30.
brand name /brnd nem/ noun a
brand name
breakages / brekd$z/ plural noun

breakages
name of a particular make of product breaking of items 쑗 Customers are ex-

brand new /brnd nju/ adjective
brand new
pected to pay for breakages.

quite new, very new breakdown /brekdaυn/ noun 1. an
breakdown
brand recognition /brnd rekə!

brand recognition
| act of stopping working because of me-

nʃ(ə)n/ noun the ability of the consum- chanical failure 쑗 We cannot communi-
er to recognise a brand on sight cate with our Nigerian office because of
breakeven point 44
the breakdown of the telephone lines. 2. company has a policy of laying off its
an act of stopping talking 쑗 a breakdown most recently recruited employees first,
in wage negotiations 3. an act of showing since these are often the best trained
details item by item 쑗 Give me a break- and best educated members of its staff.)
down of investment costs. bring /brŋ/ verb to come to a place with
bring
breakeven point /brekiv(ə)n

breakeven point
| someone or something 쑗 He brought his

pɔnt/ noun the point or level of financial documents with him. 쑗 The finance direc-
activity at which expenditure equals in- tor brought her assistant to take notes of
come, or the value of an investment the meeting. (NOTE: bringing – brought)
equals its cost so that the result is neither bring down phrasal verb 1. to reduce
a profit nor a loss. Abbreviation BEP 쑗 Petrol companies have brought down
breaking bulk /brekŋ blk/ noun the price of oil. 2. to add a figure to an
breaking bulk
the practice of buying in bulk and then account at the end of a period to balance
selling in small quantities to many cus- expenditure and income 쑗 balance
tomers brought down: £365.15 3. same as
break-up value /brek p vlju/
break-up value
bring forward 2
noun 1. the value of the material of a bring forward phrasal verb 1. to make
fixed asset 쑗 What would the break-up something take [place earlier 쑗 to bring
value of our old machinery be? 쑗 Scrap forward the date of repayment 쑗 The
merchants were asked to estimate the date of the next meeting has been
tractors’ break-up value. 2. the value of brought forward to March. 2. to take an
various parts of a company taken sepa- account balance from the end of the pre-
rately vious period as the starting point for the
bribe /brab/ noun money given secretly
bribe
current period 쑗 Balance brought for-
and usually illegally to someone in au- ward: £365.15
thority to get them to help 쑗 The minister bring in phrasal verb to earn an
was dismissed for taking a bribe. 쐽 verb amount of interest 쑗 The shares bring in
to pay someone money secretly and usu- a small amount.
ally illegally to get them to do something bring out phrasal verb to produce
for you something new 쑗 They are bringing out
a new model of the car for the Motor
bricks-and-mortar /brks ən
bricks-and-mortar
Show.
mɔtə/ adjective conducting business in bring up phrasal verb to refer to some-
the traditional way in buildings such as
thing for the first time 쑗 The chairman
shops and warehouses and not being in- brought up the question of redundancy
volved in e-commerce. Compare clicks- payments.
and-mortar
brisk /brsk/ adjective characterised by
brisk
bridge finance /brd$ fanns/

bridge finance
noun loans to cover short-term needs

a lot of activity 쑗 sales are brisk 쑗 a brisk
market in technology shares 쑗 The mar-
brief /brif/ noun instructions given to
brief
ket in oil shares is particularly brisk.

someone 쑗 He went into the negotiations
broadside /brɔdsad/ noun US a
broadside
with the brief to get a deal at any price. 쐽

verb to explain something to someone in large format publicity leaflet
brochure /brəυʃə/ noun a publicity
brochure
detail 쑗 The salespeople were briefed on

the new product. 쑗 The managing direc- booklet 쑗 We sent off for a brochure about
tor briefed the board on the progress of holidays in Greece or about postal servic-
the negotiations. es.
briefing /brifŋ/ noun an act of telling brochure site /brəυʃə sat/ noun a
brochure site
briefing
someone details 쑗 All sales staff have to website that gives details of a company’s
attend a sales briefing on the new prod- products and contact information
uct. broke /brəυk/ adjective having no mon-
broke
brightsizing /bratsazŋ/ noun the ey (informal) 쑗 The company is broke. 쑗

brightsizing
practice of reducing the size of the work- She cannot pay for the new car because
force by making the most capable or intel- she is broke.
ligent employees redundant (NOTE: This go broke phrasal verb to become
usually happens accidentally when a bankrupt
45 budget department
broker /brəυkə/ noun 1. a dealer who tomers’ orders to buy and sell stock are
broker
acts as a middleman between a buyer and treated as bets on the rise and fall of prices
a seller 2. 왍 (stock)broker a person or ‘…at last something is being done about
firm that buys and sells shares or bonds on the thousands of bucket shops across the
behalf of clients nation that sell investment scams by
brokerage /brəυkərd$/, broker’s phone’ [Forbes Magazine]
brokerage
commission /brəυkəz kəmʃ(ə)n/ budget /bd$t/ noun 1. a plan of ex-

budget
noun 1. payment to a broker for a deal pected spending and income for a period
carried out 2. same as broking of time 쑗 to draw up a budget for salaries
brokerage firm /brəυkərd$ f&m/,
brokerage firm
for the coming year 쑗 We have agreed the
brokerage house /brəυkərd$ haυs/ budgets for next year. 2. 왍 the Budget the
noun a firm which buys and sells shares annual plan of taxes and government
for clients spending proposed by a finance minister.
broking /brəυkŋ/ noun the business
broking
In the UK, the budget is drawn up by the
of dealing in stocks and shares Chancellor of the Exchequer. 쑗 The min-
ister put forward a budget aimed at boost-
brought down /brɔt dυn/,
brought down
ing the economy. 왍 to balance the budget

brought forward /brɔt fɔwəd/ noun to plan income and expenditure so that
balance in an account from the previous they balance 쑗 The president is planning
period taken as the starting point for the for a balanced budget. 쐽 verb to plan
current period 쑗 balance brought down or probable income and expenditure 쑗 We
forward: £365.15 Abbreviation b/d, b/f are budgeting for £10,000 of sales next
brownfield site /braυnfild sat/
brownfield site
year.
noun a site for a new housing develop- ‘…he budgeted for further growth of
ment which was originally the site of a 150,000 jobs (or 2.5 per cent) in the
factory. Compare greenfield site current financial year’ [Sydney
brown goods /braυn !υdz/ plural
brown goods
Morning Herald]
noun electrical equipment for home en- ‘…the Federal government’s budget tar-
tertainment, e.g. television sets, hi-fi gets for employment and growth are with-
equipment. Compare white goods in reach according to the latest figures’
brown paper /braυn pepə/ noun [Australian Financial Review]
brown paper
budget account /bd$t əkaυnt/

budget account
thick paper for wrapping parcels |
B share /bi ʃeə/ noun an ordinary noun a bank account where you plan in-
B share
share with special voting rights (often come and expenditure to allow for periods
owned by the founder of the company and when expenditure is high, by paying a set
their family) amount each month
bubble /bb(ə)l/ noun a continued rise budgetary /bd$t(ə)r/ adjective re-
budgetary
bubble
in the value of an asset, such as a share ferring to a budget

price, which is caused by people thinking budgetary control /bd$t(ə)ri kən
budgetary control
that the price will continue to rise. Also trəυl/ noun controlled spending accord-
called speculative bubble ing to a planned budget
bubble envelope /bb(ə)l policy /bd$t(ə)ri
bubble envelope
budgetary
budgetary policy
envələυp/ noun an envelope lined with a pɒlsi/ noun the policy of planning in-
sheet of plastic with bubbles in it, which come and expenditure
protects the contents of the envelope budgetary
budgetary requirements
requirements
bubble pack /bb(ə)l pk/ noun /bd$t(ə)ri rkwaəməntz/ plural
bubble pack
same as blister pack noun the rate of spending or income re-

bubble wrap /bb(ə)l rp/ noun a quired to meet the budget forecasts
bubble wrap
sheet of clear plastic with bubbles of air in budget deficit /bd$t defst/ noun
budget deficit
it, used as a protective wrapping material a deficit in a country’s planned budget,

buck /bk/ noun US a dollar (informal) where income from taxation will not be
buck
왍 to make a quick buck to make a profit sufficient to pay for the government’s ex-
very quickly 쐽 verb 왍 to buck the trend penditure
to go against the trend budget department /bd$t d
budget department
bucket shop /bkt ʃɒp/ noun US a pɑtmənt/ noun a department in a large

bucket shop
dishonest stockbroking firm where cus- store which sells cheaper goods
budgeting 46
budgeting /bd$tŋ/ noun the prepa- COMMENT: Building societies mainly in-
budgeting
ration of budgets to help plan expenditure vest the money deposited with them as
mortgages on properties, but a percent-
and income age is invested in government securities.
budget surplus /bd$t s&pləs/
budget surplus
Societies can now offer a range of bank-

noun a situation where there is more rev- ing services, such as cheque books,
enue than was planned for in the budget standing orders, overdrafts, etc., and
now operate in much the same way as
budget variance /bd$t veəriəns/
budget variance
banks. Indeed, many building societies

noun the difference between the cost as have changed from ‘mutual status’,
estimated for a budget and the actual cost where the owners of the society are its
buffer stocks /bfə stɒks/ plural
buffer stocks
investors and borrowers, to become
publicly-owned banks whose shares are
noun stocks of a commodity bought by an bought and sold on the stock exchange.
international body when prices are low The comparable US institutions are the
and held for resale at a time when prices savings & loan associations, or ‘thrifts’.
have risen, with the intention of reducing buildup /bldp/ noun a gradual in-
buildup
sharp fluctuations in world prices of the crease 쑗 a buildup in sales or a sales

commodity buildup 쑗 There will be a big publicity
build into phrasal verb to include buildup before the launch of the new mod-
something in something which is being el. 쑗 There has been a buildup of com-
set up 쑗 You must build all the forecasts plaints about customer service.
into the budget. 왍 we have built 10%
built-in /blt n/ adjective forming part
built-in
for contingencies into our cost fore-

cast we have added 10% to our basic of the system or of a machine 쑗 The PC
forecast to allow for items which may has a built-in modem. 쑗 The accounting
appear suddenly system has a series of built-in checks. 쑗
build up phrasal verb 1. to create The microwave has a built-in clock.
something by adding pieces together 쑗 built-in obsolescence /blt n ɒbsə
built-in obsolescence
She bought several shoe shops and les(ə)ns/ noun a method of ensuring
gradually built up a chain. 2. to expand continuing sales of a product by making it
something gradually 쑗 to build up a in such a way that it will soon become ob-
profitable business 쑗 to build up a team solete
of sales representatives bulk /blk/ noun a large quantity of
bulk
building and loan association
building and loan association goods 왍 in bulk in large quantities 쑗 to

/bldŋ ən ləυn əsəυsieʃ(ə)n/ noun
|
buy rice in bulk
US same as savings and loan
bulk breaking /blk brekŋ/ noun
bulk breaking
building materials /bldŋ mə

building materials
|
same as breaking bulk
təriəlz/ plural noun materials used in
bulk buying /blk baŋ/ noun the
bulk buying
building, e.g. bricks and cement

building permit /bldŋ p&mt/
building permit
act of buying large quantities of goods at
noun an official document which allows low prices
bulk carrier /blk kriə/ noun a ship
bulk carrier
someone to build on a piece of land

building site /bldŋ sat/ noun a
building site
which carries large quantities of loose
place where a building is being construct- goods such as corn or coal
ed 쑗 All visitors to the site must wear bulk discount /blk dskaυnt/ noun
bulk discount
safety helmets. a discount given to a purchaser who buys

building society /bldŋ səsaəti/ in bulk
building society
noun a financial institution which accepts bulk purchase /blk p&tʃs/ noun
bulk purchase
and pays interest on deposits, and lends an act of buying a large quantity of goods
money to people who are buying property at low prices
against the security of the property which
bulk shipment /blk ʃpmənt/ noun
bulk shipment
is being bought 쑗 We put our savings into

a building society or into a building soci- a shipment of large quantities of goods
bull /bυl/ noun a person who believes the
bull
ety account. 쑗 I have an account with the

Nationwide Building Society. 쑗 I saw the market will rise, and therefore buys
building society manager to ask for a shares, commodities or currency to sell at
mortgage. a higher price later. Opposite bear
47 business class
‘…lower interest rates are always a bull was destroyed. 쑗 The company records
factor for the stock market’ were all lost when the offices were burnt
[Financial Times] down.
bullion /bυliən/ noun a gold or silver
bullion
burn out phrasal verb to become tired

bars 쑗 A shipment of gold bullion was sto- and incapable for further work because
len from the security van. 쑗 The price of of stress (NOTE: burning – burnt or
bullion is fixed daily. burned)
bullish /bυlʃ/ adjective optimistic, bushel /bυʃ(ə)l/ noun US a measure of
bullish bushel
feeling that prices of shares will rise dry goods, such as corn (= 35 litres)
‘…another factor behind the currency business /bzns/ noun 1. work in
business
market’s bullish mood may be the growing buying, selling or doing other things to
realisation that Japan stands to benefit make a profit 쑗 We do a lot of business
from the current combination of high do- with Japan. 쑗 Business is expanding. 쑗
mestic interest rates and a steadily rising Business is slow. 쑗 Repairing cars is 90%
exchange rate’ [Far Eastern Economic
Review] of our business. 쑗 We did more business
in the week before Christmas than we
‘…currency traders chose to ignore better
unemployment statistics from France, pre- usually do in a month. 쑗 Strikes are very
ferring to focus on the bullish outlook for bad for business. 쑗 What’s your line of
the dollar’ [Times] business? 왍 to be in business to run a
bull market / bυl mɑkt/ noun a peri-
bull market
commercial firm 왍 on business doing
commercial work 쑗 She had to go abroad
od when share prices rise because people
are optimistic and buy shares. Opposite on business. 쑗 The chairman is in Hol-
bear market
land on business. 2. a commercial compa-
ny 쑗 He owns a small car repair business.
bumper /bmpə/ noun a very large
bumper
쑗 She runs a business from her home. 쑗 I

crop 쑗 a bumper crop of corn 왍 1999 was set up in business as an insurance broker.
a bumper year for computer sales 1999 3. the affairs discussed 쑗 The main busi-
was an excellent year for sales ness of the meeting was finished by 3 p.m.
bumping /bmpŋ/ noun 1. US a lay-
bumping
business address / bzns ədres/

business address
off procedure that allows an employee noun the details of number, street and
with greater seniority to displace a more town where a company is located
junior employee 쑗 The economic reces-
business agent /bzns ed$ənt/
business agent
sion led to extensive bumping in compa-

nies where only the most qualified were noun US the chief local official of a trade
retained for some jobs. 쑗 The trade un- union
business call /bzns kɔl/ noun a
business call
ions strongly objected to bumping prac-

tices since they considered that many em- visit to talk to someone about business
ployees were being laid off unfairly. 2. the business card /bzns kɑd/ noun a
business card
situation where a senior employee takes card showing a businessperson’s name

the place of a junior (in a restaurant) and the name and address of the company
bureau /bjυərəυ/ noun an office which he or she works for
bureau
specialises in a specific service business case /bzns kes/ noun a

business case
bureaucracy /bjυərɒkrəsi/ noun a statement that explains why a particular

bureaucracy
system of administration where an indi- course of action would be advantageous

vidual person’s responsibilities and pow- or profitable to an organisation (NOTE: A
ers are strictly defined and processes are business case depends on the prepara-
strictly followed tion and presentation of a viable busi-
bureaucratic /bjυərəkrtk/ adjec- ness plan and is intended to weed out
bureaucratic
tive following strict administrative princi- ideas that may seem promising but have
ples no real long-term value to an organisa-
bureau de change /bjυərəυ də
bureau de change
tion.)
ʃɒn$/ noun an office where you can business centre /bzns sentə/
business centre
change foreign currency noun the part of a town where the main
burn down phrasal verb to destroy (a banks, shops and offices are located
building) completely in a fire 쑗 The business class /bzns klɑs/ noun a
business class
warehouse burnt down and all the stock type of airline travel which is less expen-
business college 48
sive than first class and more comfortable business park /bzns pɑk/ noun a
business park
than economy class group of small factories or warehouses,

business college /bzns kɒld$/ especially near a town 쑗 He has rented a
business college
noun same as business school unit in the local business park.

business community /bzns kə business plan /bzns pln/ noun a
business plan
business community
mjunti/ noun the business people liv- document drawn up to show how a busi-
ing and working in the area ness is planned to work, with cash flow
business computer /bzns kəm
business computer
|
forecasts, sales forecasts, etc., often used
pjutə/ noun a powerful small computer when trying to raise a loan, or when set-
programmed for special business uses ting up a new business
business practices /bzns
business practices
business correspondence /bzns

business correspondence
kɒrspɒndəns/ noun letters concerned

|
prktsz/ noun ways of managing or
with a business working in business, industry or trade
business premises /bzns
business premises
business correspondent /bzns

business correspondent
premsz/ plural noun building used for

kɒrspɒndənt/ noun a journalist who
|
commercial use
writes articles on business news for news-
business rate /bzns ret/ noun a
business rate
papers
tax levied on business property (NOTE:
business cycle /bzns sak(ə)l/
business cycle
The US term is local property tax.)

noun the period during which trade ex-
business ratepayer /bznəs
business ratepayer
pands, slows down and then expands

again. Also called trade cycle retpeə/ noun a business which pays lo-
cal taxes on a shop, office, factory, etc.
business environment /bzns n
business environment
business school /bzns skul/

| business school
varənmənt/ noun the elements or fac-

tors outside a business organisation which noun an educational institution at univer-
directly affect it, such as the supply of raw sity level that offers courses in subjects
materials and product demand 쑗 The un- related to business such as management,
reliability of supplies is one of the worst technology, finance, and interpersonal
features of our business environment. skills (NOTE: Business schools provide
courses of varying length and level, up
business equipment /bzns 
business equipment
|
to Master of Business Administration,
kwpmənt/ noun the machines used in and besides catering for full-time stu-
an office dents, also offer part-time courses and
business expenses /bzns k
business expenses
|
distance learning to people already in
spensz/ plural noun money spent on employment.)
running a business, not on stock or assets business science /bzns saəns/
business science
business game /bzns !em/ noun

business game
noun the study of business or manage-

a learning game in which trainees are pre- ment techniques 쑗 He has a master’s de-
sented with a typical business situation gree in business science.
and compete with one another to find the business-to-business /bzns tə
business-to-business
best way of dealing with it bzns/ adjective full form of B2B

business hours /bzns aυəz/ plural business-to-consumer /bzns tə
business hours
business-to-consumer
noun the time when a business is open, kənsjumə/ adjective full form of B2C
|
usually 9.00 a.m. to 5.30 p.m. business transaction /bzns trn

business transaction
business intelligence /bzns n zkʃən/ noun an act of buying or selling

business intelligence
teld$(ə)ns/ noun information that may business

business traveller
traveller /bznəs
be useful to a business when it is planning trv(ə)lə/ noun a person who is travel-
its strategy ling on business
business letter / bzns letə/ noun a
business letter
business trip /bzns trp/ noun a

business trip
letter which deals with business matters journey made to discuss business matters
business lunch /bzns lntʃ/ noun
business lunch
with clients
a meeting between businessmen where business unit /bzns junt/ noun a
business unit
they have lunch together to discuss busi- unit within an organisation that operates
ness deals as a separate department, division or
businessman /bznsmn/ noun a
businessman
stand-alone business and is usually treat-

man engaged in business ed as a separate profit centre
49 by-product
businesswoman /bznsmn/ noun the form of new or rights issues’
businesswoman
a woman engaged in business [Financial Times]

buyer /baə/ noun 1. a person who buys
buyer
go bust phrasal verb to become bank-

rupt (informal ) 쑗 The company went 왍 there were no buyers no one wanted to
bust last month. buy 2. a person who buys stock on behalf
busy /bzi/ adjective occupied in doing
busy
of a trading organisation for resale or for
something or in working 쑗 He is busy use in production 3. in B2B selling, a per-
preparing the annual accounts. 쑗 The son who has made a commitment to buy,
manager is busy at the moment, but she but has not finalised the deal
buyer’s market /baəz mɑkt/ noun
buyer’s market
will be free in about fifteen minutes. 쑗 The

busiest time of year for stores is the week a market where products are sold cheaply
before Christmas. 쑗 Summer is the busy because there are few people who want to
season for hotels. 왍 the line is busy the buy them. Opposite seller’s market
buyer’s risk /baəz rsk/ noun the
buyer’s risk
telephone line is being used

busy season /bzi siz(ə)n/ noun the
busy season
risk taken by a buyer when accepting
period when a company is busy goods or services without a guarantee
buying /baŋ/ noun the act of getting
buying
buy /ba/ verb to get something by pay-

buy
ing money 쑗 to buy wholesale and sell re- something for money
buying department /baŋ d
buying department
tail 쑗 to buy for cash 쑗 She bought 10,000 |
shares. 쑗 The company has been bought pɑtmənt/ noun the department in a
by its leading supplier. (NOTE: buying – company which buys raw materials or
bought) 쐽 noun something which should goods for use in the company
be bought 쑗 Those shares are a definite buying power /baŋ paυə/ noun the
buying power
buy. ability to buy 쑗 The buying power of the

buy back phrasal verb 1. to buy some- pound has fallen over the last five years.
thing which you sold earlier 쑗 She sold buyout /baaυt/ noun the purchase of a
buyout
the shop last year and is now trying to controlling interest in a company
buy it back. 2. to buy its own shares ‘…we also invest in companies whose
buy forward phrasal verb to buy for- growth and profitability could be im-
eign currency before you need it, in or- proved by a management buyout’ [Times]
der to be sure of the exchange rate ‘…in a normal leveraged buyout, the ac-
buy in phrasal verb (of a seller at an quirer raises money by borrowing against
auction) to buy the thing which you are the assets or cash flow of the target com-
trying to sell because no one will pay pany’ [Fortune]
the price you want bylaws /balɔz/ noun a rule made by a
bylaws
buyback /babk/ noun 1. a type of local authority or organisation, and not by

buyback
loan agreement to repurchase bonds or se- central government 쐽 plural noun US

curities at a later date for the same price as rules governing the internal running of a
they are being sold 2. an international corporation (the number of meetings, the
trading agreement where a company appointment of officers, etc.) (NOTE: In
builds a factory in a foreign country and the UK, these are called Articles of As-
agrees to buy all its production sociation.)
by-product /ba prɒdkt/ noun a
by-product
‘…the corporate sector also continued to

return cash to shareholders in the form of product made as a result of manufacturing
buy-backs, while raising little money in a main product
C
C2C commerce /si tə si kɒm&s/ someone to visit someone 쑗 Our sales-
C2C commerce
same as consumer-to-consumer com- people call on their best accounts twice a

merce month. 3. to ask for or order something to
CA abbr chartered accountant
CA
be done 쑗 to call a meeting 왍 the union
CAB abbr Citizens Advice Bureau
CAB called a strike the union told its members
to go on strike
CAD/CAM noun the combined use of
CAD/CAM
call in phrasal verb 1. to visit 쑗 Their

data and technologies from computer-aid- sales representative called in twice last
ed design and computer-aided manufac- week. 2. to telephone to make contact 쑗
turing in a fully automated system that We ask the reps to call in every Friday
covers every part of the manufacturing to report the week’s sales. 3. to ask for
process from design to production. Full a debt to be paid
form computer-aided design/compu- call off phrasal verb to ask for some-
ter-aided manufacturing thing not to take place 쑗 The union has
calculate /klkjυlet/ verb 1. to find
calculate
called off the strike. 쑗 The deal was

the answer to a problem using numbers 쑗 called off at the last moment.
The bank clerk calculated the rate of ex- call up phrasal verb to ask for share
change for the dollar. 2. to estimate 쑗 I capital to be paid
calculate that we have six months’ stock callable bond /kɔləb(ə)l bɒnd/
callable bond
left. noun a bond which can be redeemed be-

calculation /klkjυleʃ(ə)n/ noun
calculation
|
fore it matures
the answer to a problem in mathematics 쑗 call-back pay /kɔl bk pe/ noun
call-back pay
According to my calculations, we have six pay given to an employee who has been
months’ stock left. 왍 we are £20,000 out called back to work after their usual
in our calculations we have made a mis- working hours
take in our calculations and arrived at a call centre /kɔl sentə/ noun a de-
call centre
figure which is £20,000 too much or too partment or business that operates a large
little number of telephones and specialises in
calendar year /klndə jə/ noun a
calendar year
making calls to sell products or in receiv-

year from the 1st January to 31st Decem- ing calls from customers to helplines or
ber information or after-sales services (NOTE:
call /kɔl/ noun 1. a conversation on the
call
A call centre often acts as the central

telephone 왍 national call call to any part point of contact between an organisa-
of the country more than 56km from your tion and its customers.)
own exchange 왍 to make a call to dial called up capital /kɔld p
called up capital
and speak to someone on the telephone 왍 kpt(ə)l/ noun a share capital in a com-
to take a call to answer the telephone 왍 to pany which has been called up but not yet
log calls to note all details of telephone paid for
calls made 2. a demand for repayment of ‘…a circular to shareholders highlights
a loan by a lender 3. an official request for that the company’s net assets as at August
something 4. a demand to pay for new 1, amounted to £47.9 million – less than
shares which then become paid up 쐽 verb half the company’s called-up share capital
1. to telephone someone 쑗 I’ll call you at of £96.8 million. Accordingly, an EGM
your office tomorrow. 2. 왍 to call on has been called for October 7’ [Times]
51 capacity requirements planning

caller /kɔlə/ noun 1. a person who tel- can-do /kn du/ adjective go-ahead,
caller can-do
ephones 2. a person who visits liking to cope with new challenges 쑗

call money /kɔl mni/ noun money
call money
She’s a can-do individual.
canvass /knvəs/ verb to visit people
canvass
loaned for which repayment can be de-

manded without notice. Also called mon- to ask them to buy goods, to vote or to say
ey at call, money on call what they think 쑗 He’s canvassing for
customers for his hairdresser’s shop. 쑗
call option /kɔl ɒpʃən/ noun an op-
call option
We’ve canvassed the staff about raising

tion to buy shares at a future date and at a the prices in the staff restaurant.
specific price. Opposite put option
canvasser /knvəsə/ noun a person
canvasser
call rate /kɔl ret/ noun the number of

call rate
who canvasses
calls per day or per week which a sales- canvassing /knvəsŋ/ noun the
canvassing
person makes on customers practice of asking people to buy, to vote,

campaign /kmpen/ noun a series of
campaign
| or to say what they think 쑗 door-to-door

co-ordinated activities to reach an objec- canvassing 쑗 canvassing techniques
tive 쐽 verb to work in an organized way cap /kp/ noun an upper limit placed on
cap
to get something 쑗 They are campaigning something, such as an interest rate. The
for better pay for low-paid workers. opposite, i.e. a lower limit, is a ‘floor’). 쐽
cancel /knsəl/ verb 1. to stop some-
cancel
verb to place an upper limit on something
thing which has been agreed or planned 쑗 쑗 to cap a local authority’s budget 쑗 to
to cancel an appointment or a meeting 쑗 cap a department’s budget (NOTE: cap-
The government has cancelled the order ping – capped)
CAP abbr Common Agricultural Policy
CAP
for a fleet of buses. 쑗 The manager is still

ill, so the interviews planned for this week capable /kepəb(ə)l/ adjective 1. 왍 ca-
capable
have been cancelled. (NOTE: cancelling pable of able or clever enough to do

– cancelled. The US spelling is cance- something 쑗 She is capable of very fast
ling – canceled.) 2. 왍 to cancel a keyboarding speeds. 쑗 The sales force
cheque to stop payment of a cheque should be capable of selling all the stock
which has been signed in the warehouse. 쑗 She is capable of very
cancel out phrasal verb (of two fast typing speeds. 2. efficient 쑗 She is a
things) to balance each other or act very capable departmental manager.
against each other so that there is no (NOTE: You are capable of something or
change in the existing situation 쑗 The of doing something.)
two clauses cancel each other out. 쑗 capacity /kəpsti/ noun 1. the
capacity
Higher costs have cancelled out the in- amount which can be produced, or the
creased sales revenue. amount of work which can be done 쑗 in-
cancellation /knsəleʃ(ə)n/ noun
cancellation
dustrial or manufacturing or production
capacity 왍 to work at full capacity to do
|
the act of stopping something which has

been agreed or planned 쑗 the cancellation as much work as possible 2. the amount
of an appointment 쑗 the cancellation of of space 왍 to use up spare or excess ca-
an agreement pacity to make use of time or space which
is not fully used 3. ability 쑗 She has a
/knsə
cancellation clause
cancellation clause |
particular capacity for detailed business
leʃ(ə)n klɔz/ noun a clause in a con- deals with overseas companies. 4. 왍 in
tract which states the terms on which the one’s capacity as acting as 쑗 I signed the
contract may be cancelled document in my capacity as chairman.
candidate /knddet/ noun a person
candidate
‘…analysts are increasingly convinced

who applies for or is considered suitable that the industry simply has too much ca-
for a job or for a training course 쑗 Ten out pacity’ [Fortune]
capacity planning /kəpsti
capacity planning
of fifty candidates were shortlisted. 쑗 The |
candidates for department manager were plnŋ/ noun forward planning to relate
each given a personality test and an intel- production needs to anticipated demand
ligence test. 쑗 I don’t consider him as capacity requirements planning
capacity requirements planning
suitable candidate for management train- /kəpsti rkwaəmənts plnŋ/
| |
ing. noun planning that determines how much

capacity utilisation 52
machinery and equipment is needed in or- part of its regular trade. Also called fixed
der to meet production targets assets
capacity utilisation /kəpsəti capital base /kpt(ə)l bes/ noun
capacity utilisation capital base
jutlazeʃ(ə)n/ noun a measurement

| the capital structure of a company (share-
that shows how much of the plant and holders’ capital plus loans and retained
equipment of a company or industry is ac- profits) used as a way of assessing the
tually being used to produce goods or company’s worth
services. It is usually expressed as a ratio capital bonus /kpt(ə)l bəυnəs/
capital bonus
between actual output over a particular noun an extra payment by an insurance

period and the maximum output the plant company which is produced by a capital
or equipment designed to produce during gain
the same period. capital city /kpt(ə)l sti/ noun the
capital city
capita /kptə/ 쏡 per capita

capita
main city in a country, where the govern-

capital /kpt(ə)l/ noun 1. the money, ment is located
capital
property and assets used in a business 쑗 a capital commitments /kpt(ə)l kə

capital commitments
company with £10,000 capital or with a mtmənts/ plural noun expenditure on

capital of £10,000 왍 capital structure of assets which has been authorised by di-
a company the way in which a compa- rectors, but not yet spent at the end of a fi-
ny’s capital is made up from various nancial period
sources 2. money owned by individuals or capital employed /kpt(ə)l m
capital employed
companies, which they use for investment plɔd/ noun an amount of capital con-
왍 movements of capital changes of insisting of shareholders’ funds plus the
vestments from one country to another 왍 long-term debts of a business. 쒁 return
flight of capital the rapid movement of on capital employed
capital out of one country because of lack capital equipment /kpt(ə)l 
capital equipment
of confidence in that country’s economic kwpmənt/ noun equipment which a

future factory or office uses to work
‘…issued and fully paid capital is $100 capital expenditure /kpt(ə)l k
capital expenditure
million, comprising 2340 shares of $100 spendtʃə/ noun money spent on fixed
each and 997,660 ordinary shares of $100
each’ [Hongkong Standard] assets such as property, machines and fur-
niture. Also called capital investment,
capital account /kpt(ə)l əkaυnt/
capital account
|
capital outlay. Abbreviation CAPEX
noun 1. an account of dealings such as
capital gain / kpt(ə)l !en/ noun
capital gain
money invested in or taken out of the

company by the owners of a company 2. an amount of money made by selling a
items in a country’s balance of payments fixed asset. Opposite capital loss
capital gains tax /kpt(ə)l !enz
capital gains tax
which do not refer to the buying and sell-

ing merchandise, but refer to investments tks/ noun a tax on the difference be-
3. the total equity in a business tween the gross acquisition cost and the
net proceeds when an asset is sold. In the
capital allowances /kpt(ə)l ə
capital allowances
United Kingdom, this tax also applies

laυənsz/ plural noun the allowances
when assets are given or exchanged, al-
based on the value of fixed assets which though each individual has an annual cap-
may be deducted from a company’s prof-
ital gains tax allowance that exempts
its and so reduce its tax liability gains within that tax year below a stated
COMMENT: Under current UK law, depre-
ciation is not allowable for tax on profits, level. In addition, certain assets may be
whereas capital allowances, based on exempt, e.g., a person’s principal private
the value of fixed assets owned by the residence and transfers of assets between
company, are tax-allowable. spouses. Abbreviation CGT
capital appreciation /kpt(ə)l ə capital goods /kpt(ə)l !υdz/ plu-
capital appreciation capital goods
priʃieʃ(ə)n/ noun same as apprecia-

| ral noun machinery, buildings and raw
tion materials which are used to make other
capital assets /kpt(ə)l sets/ goods
capital assets
capital-intensive industry
capital-intensive industry
plural noun the property, machines and

other assets, which a company owns and /kpt(ə)l ntensv ndəstri/ noun an
|
uses but which it does not buy and sell as industry which needs a large amount of
53 captive market
capital investment in plant to make it capital loss /kpt(ə)l lɒs/ noun a
capital loss
work loss made by selling assets. Opposite

capital investment /kpt(ə)l n capital gain
capital investment
vestmənt/ noun same as capital ex- capital market /kpt(ə)l mɑkt/
capital market
penditure noun an international market where mon-

capitalisation /kpt(ə)la ey can be raised for investment in a busi-
capitalisation
zeʃ(ə)n/, capitalization noun the value ness

of a company calculated by multiplying capital outlay /kpt(ə)l aυtle/
capital outlay
the price of its shares on the stock ex- noun same as capital expenditure
change by the number of shares issued. capital project /kpt(ə)l
capital project
Also called market capitalisation prɒd$ekt/ noun a large-scale and com-

‘…she aimed to double the company’s plex project, often involving construction
market capitalization’ [Fortune] or engineering work, in which an organi-
capitalisation issue /kptəla
capitalisation issue
| sation spends part of its financial resourc-

zeʃ(ə)n ʃu/ noun same as bonus is- es on creating capacity for production
sue capital
capital project management
project management
capitalisation of reserves /kpt(ə)l prəd$ekt mnd$mənt/
capitalisation of reserves
/kpt(ə)lazeʃ(ə)n əv rz&vz/ noun

| noun the control and organisation of cap-
the issuing free bonus shares to share- ital projects
holders capital requirements /kpt(ə)l r
capital requirements
capitalise /kpt(ə)laz/, capitalize kwaəmənts/ plural noun the amount of

capitalise
verb to invest money in a working compa- capital which a firm needs to operate nor-
ny 왍 the company is capitalised at mally
£10,000 the company has a working cap- capital reserves /kpt(ə)l rz&vz/
capital reserves
ital of £10,000 plural noun money from profits, which

‘…at its last traded price the bank was cap- forms part of the capital of a company and
italized at around $1.05 billion with 60 per can be used for distribution to sharehold-
cent in the hands of the family’ [South ers only when a company is wound up.
China Morning Post] Also called undistributable reserves
capitalise on phrasal verb to make a capital shares /kpt(ə)l ʃeəz/ plu-
capital shares
profit from 쑗 We are seeking to capital- ral noun (on the Stock Exchange) shares
ise on our market position. in a unit trust which rise in value as the
capitalism /kpt(ə)lz(ə)m/ noun
capitalism
capital value of the units rises, but do not

the economic system in which each per- receive any income (NOTE: The other
son has the right to invest money, to work form of shares in a split-level investment
in business and to buy and sell, with no re- trust are income shares, which receive
strictions from the state income from the investments, but do not
capitalist / kpt(ə)lst/ adjective rise in value.)
capitalist
working according to the principles of capital structure /kpt(ə)l

capital structure
capitalism 쑗 the capitalist system 쑗 the strktʃə/ noun the relative proportions
capitalist countries or world 쐽 noun a of equity capital and debt capital within a
person who invests capital in business en- company’s balance sheet
terprises capital transfer tax /kpt(ə)l
capital transfer tax
capitalist economy /kpt(ə)lst  trnsf& tks/ noun in the United
capitalist economy
kɒnəmi/ noun an economy in which Kingdom, a tax on the transfer of assets

each person has the right to invest money, that was replaced in 1986 by inheritance
to work in business and to buy and sell, tax
with no restrictions from the state captain of industry /kptn əv
captain of industry
capital letters / kpt(ə)l letəz/ ndəstri/ noun a head of a major indus-

capital letters
noun letters written as A, B, C, D, etc., trial company

and not a, b, c, d 쑗 Write your name in captive market /kptv mɑkt/
captive market
block capitals at the top of the form. noun a market where one supplier has a
capital levy /kpt(ə)l levi/ noun a
capital levy
monopoly and the buyer has no choice

tax on the value of a person’s property and over the product which he or she must
possessions purchase
capture 54
capture /kptʃə/ verb to take or get all your life 쑗 He made his career in elec-
capture
control of something 왍 to capture 10% tronics. 쑗 She has had a varied career,
of the market to sell hard, and so take a having worked in education and industry.
10% market share 왍 to capture 20% of a 쑗 The company offered its employees no
company’s shares to buy shares in a advice on their future careers.
company rapidly and so own 20% of it care of /keər ɒv/ phrase (in an ad-
care of
car assembly plant /kɑr əsembli

car assembly plant
| dress) words to show that the person is

plɑnt/ noun a factory where cars are put living at the address, but only as a visitor
together from parts made in other facto- 쑗 Herr Schmidt, care of Mr W. Brown
ries caretaker /keətekə/ noun a person
caretaker
carat /krət/ noun 1. a measure of the

carat
who looks after a building, making sure it

quality of gold (pure gold being 24 carat) is clean and that the rubbish is cleared
쑗 a 22-carat gold ring 2. a measure of the away (a caretaker often lives on the
weight of precious stones 쑗 a 5-carat dia- premises) 쑗 Go and ask the caretaker to
mond replace the light bulb. (NOTE: The US
COMMENT: Pure gold is 24 carats and is
term is janitor.)
too soft to make jewellery. Most jewellery
cargo /kɑ!əυ/ noun a load of goods
cargo
and other items made from gold are not

pure, but between 19 and 22 carats. 22 which are sent in a ship or plane, etc. 왍
carat gold has 22 parts of gold to two the ship was taking on cargo it was be-
parts of alloy.
ing loaded with goods 왍 to load cargo to
car boot sale /kɑ bυt sel/ noun a
car boot sale
put cargo on a ship

type of jumble sale, organised in a large
cargo plane /kɑ!əυ plen/ noun a
cargo plane
car park or sports field, where people sell

unwanted items from the back of their plane which carries only cargo and not
cars passengers (NOTE: The plural is car-
card /kɑd/ noun 1. stiff paper 쑗 We
card
goes.)
cargo ship /kɑ!əυ ʃp / noun a ship
cargo ship
have printed the instructions on thick

white card. 2. a small piece of cardboard which carries cargo, not passengers
or plastic, usually with information print- car-hire /kɑ haə/ noun the business
car-hire
ed on it 쑗 He showed his staff card to get of lending cars to people for a payment 쑗
a discount in the store. 3. a postcard 4. 왍 He runs a car-hire business.
to get your cards to be dismissed
car hire firm /kɑ haə f&m/ noun a
car hire firm
cardholder /kɑdhəυldə/ noun 1. a

cardholder
person who holds a credit card or bank company which owns cars or equipment
cash card 2. a frame which protects a card and lends them to customers for a pay-
or a message ment
car insurance /kɑr nʃυərəns/
car insurance
card index /kɑd ndeks/ noun a se-

card index
|
ries of cards with information written on noun the insuring of a car, the driver and
them, kept in special order so that the in- passengers in case of accident
formation can be found easily 쑗 We use carnet /kɑne/ noun an international
carnet
an alphabetical card-index system for document which allows dutiable goods to

staff records. cross several European countries by road
card-index /kɑd ndeks/ verb to put without paying duty until the goods reach
card-index
information onto a card index their final destination

card-index file /kɑd ndeks fal/ car rental firm / kɑ rent(ə)l f&m/
card-index file car rental firm
noun information kept on filing cards noun a company which specialises in of-
card-indexing /kɑd ndeksŋ/ noun fering cars for rent
card-indexing
the process of putting information onto a carriage /krd$/ noun 1. the trans-
carriage
card index 쑗 No one can understand her porting of goods from one place to anoth-
card-indexing system. er 쑗 to pay for carriage 2. the cost of
card phone /kɑd fəυn/ noun a public
card phone
transport of goods 쑗 to allow 10% for

telephone which works when you insert a carriage 쑗 Carriage is 15% of the total
phonecard cost. 왍 carriage prepaid a note showing
career / kərə/ noun a job which you
career
| that the transport costs have been paid in

are trained for and which you expect to do advance
55 cash and carry

carriage forward /krd$ fɔwəd/ cartage /kɑtd$/ noun the activity of
carriage forward cartage
noun a deal where the customer pays for carrying goods by road
transporting the goods cartel /kɑtel/ noun a group of compa-
cartel
carriage free /krd$ fri/ adverb

carriage free
nies which try to fix the price or to regu-

the customer does not pay for the ship- late the supply of a product so that they
ping can make more profit
carriage paid /krd$ ped/ noun a carter /kɑtə/ noun a person who trans-
carriage paid carter
deal where the seller has paid for the ship- ports goods by road
ping carton /kɑt(ə)n/ noun 1. thick card-
carton
carrier /kriə/ noun 1. a company

carrier
board 쑗 a folder made of carton 2. a box

which transports goods 쑗 We only use made of cardboard 쑗 a carton of milk
reputable carriers. 2. a vehicle or ship case /kes/ noun 1. a typical example of
case
which transports goods something 쑗 The company has had sever-

carrier’s risk /kriəz rsk/ noun the
carrier’s risk
al cases of petty theft in the post room. 2.

responsibility of a carrier to pay for dam- reasons for doing something 쑗 The nego-
age or loss of goods being shipped tiations put the union’s case for a pay
carry /kri/ verb 1. to take from one rise. 3. 왍 the case is being heard next
carry
place to another 쑗 a tanker carrying oil week the case is coming to court next
from the Gulf 쑗 The truck was carrying week 쐽 verb to pack (items) in a case
goods to the supermarket. (NOTE: carries case study /kes std/ noun a true
case study
– carrying – carried) 2. to vote to ap- or invented business situation used in

prove (NOTE: carries – carrying – car- business training to practise decision-
ried) 왍 the motion was carried the mo- making 쑗 The marketing case study con-
tion was accepted after a vote 3. to pro- sisted of a long history of the company,
duce 쑗 The bonds carry interest at 10%. the present situation and a choice of stra-
(NOTE: carries – carrying – carried) 4. tegic plans. 쑗 The case study was about
to keep in stock 쑗 to carry a line of goods territory-planning in a city in which there
쑗 We do not carry pens. ( NOTE: carries – were a number of accounts of varying im-
carrying – carried) 쐽 noun the cost of portance.
borrowing to finance a deal (NOTE: car- cash /kʃ/ noun 1. money in the form
cash
ries – carrying – carried) of coins or notes 2. the using of money in

carry down, carry forward phrasal coins or notes 왍 to pay cash down to pay
verb to take an account balance at the in cash immediately 쐽 verb 왍 to cash a
end of the current period as the starting cheque to exchange a cheque for cash
point for the next period 왍 balance car- cash in phrasal verb to sell shares or
ried forward, balance c or f the other property for cash
amount entered in an account at the end cash in on phrasal verb to profit from
of a period or page of an account book 쑗 The company is cashing in on the in-
to balance the debit and credit entries; it terest in computer games.
is then taken forward to start the next cash up phrasal verb to add up the
period or page cash in a shop at the end of the day
carry on phrasal verb to continue or to
cashable /kʃəb(ə)l/ adjective able to
cashable
go on doing something 쑗 The staff car-

ried on working in spite of the fire. 왍 to be cashed 쑗 A crossed cheque is not cash-
carry on a business to be active in run- able at any bank.
cash account /kʃ əkaυnt/ noun an
cash account
ning a business |
carry over phrasal verb 1. 왍 to carry account which records the money which
over a balance to take a balance from is received and spent
cash advance /kʃ ədvɑns/ noun a
cash advance
the end of one page or period to the be- |
ginning of the next 2. 왍 to carry over loan in cash against a future payment
stock to hold stock from the end of one cash and carry /kʃ ən kri/ noun
cash and carry
stocktaking period to the beginning of a large store selling goods at low prices,
the next where the customer pays cash and takes
carrying /kriŋ/ noun transporting the goods away immediately 쑗 We get our
carrying
from one place to another 쑗 carrying supplies every morning from the cash and
charges 쑗 carrying cost carry.
cashback 56
‘…the small independent retailer who cash float /kʃ fləυt/ noun cash put
cash float
stocks up using cash and carries could be into the cash box at the beginning of the
hit hard by the loss of footfall associated day or week to allow change to be given
with any increase in smuggled goods’ to customers
[The Grocer]
cash flow / kʃ fləυ/ noun cash which
cash flow
cashback /kʃbk/ noun a discount

cashback
comes into a company from sales (cash

system where a purchaser receives a cash inflow) or the money which goes out in
discount on the completion of the pur- purchases or overhead expenditure (cash
chase outflow) 왍 the company is suffering
cash balance /kʃ bləns/ noun a
cash balance
from cash flow problems cash income is

balance in cash, as opposed to amounts not coming in fast enough to pay the ex-
owed penditure going out
cash basis /kʃ bess/ noun a cash flow forecast /kʃ fləυ
cash basis cash flow forecast
method of preparing the accounts of a fɔkɑst/ noun a forecast of when cash

business, where receipts and payments will be received or paid out
are shown at the time when they are cash flow statement /kʃ fləυ
cash flow statement
made, as opposed to showing debts or stetmənt/ noun a record of a compa-

credits which are outstanding at the end of ny’s cash inflows and cash outflows over
the accounting period. Also called re- a specific period of time, typically a year
ceipts and payments basis
cashier /kʃə/ noun 1. a person who
cashier
cash book /kʃ bυk / noun a book in

|
cash book
takes money from customers in a shop or

which all cash payments and receipts are who deals with the money that has been
recorded. In a double-entry bookkeeping paid 2. a person who deals with custom-
system, the balance at the end of a given ers in a bank and takes or gives cash at the
period is included in the trial balance and counter
then transferred to the balance sheet it- cashier’s check /kʃəz tʃek/ noun
cashier’s check
self.
|
US a bank’s own cheque, drawn on itself

cash box /kʃ bɒks/ noun metal box
cash box
and signed by a cashier or other bank of-

for keeping cash ficial
cash budget /kʃ bd$t/ noun a
cash budget
cash in hand /kʃ n hnd/ noun

cash in hand
plan of cash income and expenditure money and notes, kept to pay small
cash card / kʃ kɑd/ noun a plastic
cash card
amounts but not deposited in the bank

card used to obtain money from a cash cash items /kʃ atəmz/ plural noun
cash items
dispenser goods sold for cash

cash cow /kʃ kaυ / noun a product or cashless society /kʃləs səsaəti/
cash cow
cashless society
subsidiary company that consistently noun a society where no one uses cash, all
generates good profits but does not pro- purchases being made by credit cards,
vide growth charge cards, cheques or direct transfer
cash deal /kʃ dil/ noun a sale done from one account to another
cash deal
for cash cash limit /kʃ lmt/ noun a fixed

cash limit
cash desk /kʃ desk/ noun the place amount of money which can be spent dur-
cash desk
in a store where you pay for the goods ing some period
bought cash offer /kʃ ɒfə/ noun an offer to
cash offer
cash discount /kʃ dskaυnt/ noun pay in cash, especially an offer to pay

cash discount
a discount given for payment in cash. cash when buying shares in a takeover bid
Also called discount for cash cash on delivery /kʃ ɒn dlv(ə)ri/
cash on delivery
cash dispenser /kʃ dspensə/ noun payment in cash when goods are de-
cash dispenser
noun a machine which gives out money livered. Abbreviation COD

cash payment /kʃ pemənt/ noun
cash payment
when a special card is inserted and in-

structions given payment in cash
cash economy /kʃ kɒnəmi/ noun cashpoint /kʃpɔnt/ noun a place
cash economy cashpoint
| |
a black economy, where goods and serv- where there are cash dispensers where a
ices are paid for in cash, and therefore not card holder can get cash by using his cash
declared for tax card
57 caveat emptor
cash position /kʃ pəzʃ(ə)n/ noun casual work /k$uəl w&k/ noun
cash position casual work
a state of the cash which a company cur- work where the employees are hired only
rently has available for a short period
cash price /kʃ pras/ noun a lower casual worker /k$uəl w&kə/ noun
casual worker
cash price
price or better terms which apply if the an employee who can be hired for a short
customer pays cash period
catalogue /kt(ə)lɒ!/ noun a publi-
catalogue
cash purchase /kʃ p&tʃs/ noun a

cash purchase
purchase made for cash cation which lists items for sale, usually
showing their prices 쑗 an office equip-
cash register /kʃ red$stə/ noun a
cash register
ment catalogue 쑗 They sent us a cata-

machine which shows and adds the prices logue of their new range of products. 쐽
of items bought, with a drawer for keep- verb to put an item into a catalogue
ing the cash received (NOTE: [all senses] The usual US spell-
cash reserves /kʃ rz&vz/ plural
cash reserves
| ing is catalog.)
noun a company’s reserves in cash depos- catalogue price /kt(ə)lɒ! pras/
catalogue price
its or bills kept in case of urgent need 쑗 noun a price as marked in a catalogue or
The company was forced to fall back on list
its cash reserves. category /kt!(ə)ri/ noun a type or
category
cash sale /kʃ sel/ noun a transac-

cash sale
sort of item 쑗 We deal only in the most ex-

tion paid for in cash pensive categories of watches. 쑗 The
cash-strapped /kʃ strpt/ adjec- company has vacancies for most catego-
cash-strapped
tive short of money ries of office staff.

cater for phrasal verb to deal with or
cash terms / kʃ t&mz/ plural noun
cash terms
provide for 쑗 The store caters mainly

lower terms which apply if the customer for overseas customers.
pays cash
caterer /ketərə/ noun a person or
caterer
cash till /kʃ tl/ noun same as cash

cash till
company that supplies food and drink, es-

register pecially for parties
transaction /kʃ trn
cash transaction
cash |
catering /ketərŋ/ noun the activity
catering
zkʃən/ noun a transaction paid for in of supplying food and drink for a party etc
cash 쐽 adjective 왍 catering for which pro-
cash voucher /kʃ vaυtʃə/ noun a vides for 쑗 a store catering for overseas
cash voucher
piece of paper which can be exchanged visitors

for cash 쑗 With every £20 of purchases, catering trade /ketərŋ tred/ noun
catering trade
the customer gets a cash voucher to the the food trade, especially businesses sup-
value of £2. plying food that is ready to eat
cash with order /kʃ wð ɔdə/ cause /kɔz/ noun a thing which makes
cash with order cause
noun terms of sale showing the payment something happen 쑗 What was the cause
has to be made in cash when the order is of the bank’s collapse? 쑗 The police tried
placed. Abbreviation CWO to find the cause of the fire. 쐽 verb to
casting vote /kɑstŋ vəυt/ noun a
casting vote
make something happen 쑗 The recession
vote used by the chairman in the case caused hundreds of bankruptcies.
caveat /kvit/ noun warning 왍 to
caveat
where the votes for and against a proposal

are equal 쑗 The chairman has the casting enter a caveat to warn someone legally
vote. 쑗 She used her casting vote to block that you have an interest in a case, and
the motion. that no steps can be taken without your
permission
casual /k$uəl/ adjective 1. informal
casual
caveat emptor /kvit emptɔ/

caveat emptor
or not serious 2. not permanent, or not

regular phrase a Latin phrase meaning ‘let the
buyer beware’, which indicates that the
casual labour /k$uəl lebə/ noun
casual labour
buyer is responsible for checking that

workers who are hired for a short period what he or she buys is in good order
casual labourer /k$uəl lebərə/
casual labourer
‘…the idea that buyers at a car boot sale

noun a worker who can be hired for a should have any rights at all is laughable.
short period Even those who do not understand Latin
caveat venditor 58
know that caveat emptor is the rule’ central /sentrəl/ adjective organised
central
[Times] from one main point

caveat venditor /kvit venditɔ/ central bank /sentrəl bŋk/ noun the
caveat venditor
central bank
|
phrase a Latin phrase meaning ‘let the main government-controlled bank in a

seller beware’, which indicates that the country, which controls that country’s fi-
seller is legally bound to make sure that nancial affairs by fixing main interest
the goods he sells are in good order rates, issuing currency, supervising the
CB abbr cash book
CB
commercial banks and trying to control

CBI abbr Confederation of British Indus-
CBI
the foreign exchange rate

try central government /sentrəl
central government
cc a way of including other parties in an

cc
!v(ə)nmənt/ noun the main govern-

e-mail conversation even if the message is ment of a country as opposed to munici-
not addressed to them directly. Cc is a pal, local, provincial or state governments
convention carried through from tradi- centralisation /sentrəlazeʃ(ə)n/,
centralisation
tional business practices when carbon centralization noun the organisation of

copies were kept of typewritten letters everything from a central point
sent to customers or suppliers. (NOTE: cc centralise /sentrəlaz/, centralize
centralise
is put at the bottom of a letter, under the verb to organise from a central point 쑗 All
signature, to show who has been sent a purchasing has been centralised in our
copy of it) main office. 쑗 The group benefits from a
CCA abbr current cost accounting
CCA
highly centralised organisational struc-

CD abbr certificate of deposit
CD
ture. 쑗 The company has become very

c/d abbr carried down
c/d
centralised, and far more staff work at
cede /sid/ verb to give up property to
cede
headquarters.
central office /sentrəl ɒfs/ noun the
central office
someone else
ceiling /silŋ/ noun the highest point
ceiling
main office which controls all smaller of-
that something can reach, e.g. the highest fices
central planning /sentrəl plnŋ/
central planning
rate of a pay increase 쑗 to fix a ceiling for

a budget 쑗 There is a ceiling of $100,000 noun also called state planning
central purchasing /sentrəl
central purchasing
on deposits. 쑗 Output reached its ceiling

in June and has since fallen back. 쑗 What p&tʃsŋ/ noun purchasing organised by
ceiling has the government put on wage a central office for all branches of a com-
increases this year? pany
ceiling price /silŋ pras/ noun the centre /sentə/ noun 1. an important
centre
ceiling price
highest price that can be reached town 쑗 Sheffield is a major industrial

cellular telephone
cellular telephone
/seljυlə centre. 쑗 Nottingham is the centre for the

telfəυn/, cell telephone /sel shoe industry. 2. a department, area, or
telfəυn/ noun a telephone which can be function to which costs and/or revenues
carried around 쑗 If I’m not in the office are charged (NOTE: [all senses] The US
for some reason you can always reach me spelling is center.)
centre of excellence /sentər əv
centre of excellence
on my cellular telephone. (NOTE: The UK

term is mobile phone.) eksələns/ noun an organisation which is
cent /sent/ noun a small coin, one hun-
cent
recognised as being successful and hav-
dredth of a dollar 쑗 The stores are only a ing a world-wide reputation in its field,
25-cent bus ride away. 쑗 They sell orang- and so receives special funding
CEO abbr chief executive officer
CEO
es at 99 cents each. (NOTE: Cent is usual-

certain /s&t(ə)n/ adjective 1. sure 쑗
certain
ly written ¢ in prices: 25¢, but not when

a dollar price is mentioned: $1.25.) 쐽 쏡 The chairman is certain we will pass last
per cent year’s total sales. 2. 왍 a certain one par-
centimetre /sentmitə/ noun a meas-
centimetre
ticular 왍 a certain number, a certain
urement of length (one hundredth of a quantity some 쑗 A certain number of
metre) 쑗 The paper is fifteen centimetres lines are being discontinued.
certificate /sətfkət/ noun 1. an offi-
certificate
wide. (NOTE: centimetre is usually writ- |
ten cm after numbers: 260 cm. The usu- cial document carrying an official decla-
al US spelling is centimeter.) ration by someone, and signed by that
59 chairman
person 2. an official document which certified cheque /s&tfad tʃek/,
certified cheque
shows that something is owned by some- certified check noun a cheque which a
one or that something is true bank says is good and will be paid out of
certificated bankrupt /sətfketd money put aside from the payer’s bank
certificated bankrupt
bŋkrpt/ noun a bankrupt who has account

been discharged from bankruptcy with a certified copy /s&tfad kɒpi/ noun
certified copy
certificate to show that he or she was not a document which is certified as being the
at fault same as another
certificate of airworthiness /sə certified public accountant
certificate of airworthiness certified public accountant
tfkət əv eəw&ðnəs/ noun a docu- /s&tfad pblk əkaυntənt/ noun |
ment to show that an aircraft is safe to fly US an accountant who has passed the ex-
certificate of approval /sətfkət aminations of the AICPA and been given
certificate of approval
əv əpruv(ə)l/ noun a document show-

|
a certificate by a state, allowing him or
ing that an item has been approved offi- her to practise in that state. Abbreviation
cially CPA
certify /s&tfa/ verb to make an offi-
certify
certificate of deposit /sətfkət əv

certificate of deposit
dpɒzt/ noun a document from a bank

|
cial declaration in writing 쑗 I certify that
showing that money has been deposited at this is a true copy. 쑗 The document is cer-
a guaranteed interest rate for a certain pe- tified as a true copy. (NOTE: certifies –
riod of time. Abbreviation CD certifying – certified)
cession /seʃ(ə)n/ noun the act of giv-
cession
‘…interest rates on certificates of deposit

may have little room to decline in August ing up property to someone, especially a
as demand for funds from major city banks creditor
is likely to remain strong. After delaying c/f abbr carried forward
c/f
for months, banks are now expected to is- CFO abbr chief financial officer
CFO
sue a large volume of CDs. If banks issue

CGT abbr capital gains tax
CGT
more CDs on the assumption that the offi-

chain /tʃen/ noun a series of stores or
chain
cial discount rate reduction will be de-

layed, it is very likely that CD rates will be other businesses belonging to the same
pegged for a longer period than expected’ company 쑗 a chain of hotels or a hotel
[Nikkei Weekly] chain 쑗 the chairman of a large do-it-
COMMENT: A CD is a bearer instrument, yourself chain 쑗 He runs a chain of shoe
which can be sold by the bearer. It can shops. 쑗 She bought several garden cen-
be sold at a discount to the value, so that tres and gradually built up a chain.
the yield on CDs varies.
certificate of incorporation /sə
certificate of incorporation
‘…the giant US group is better known for
its chain of cinemas and hotels rather than
|
tfkət əv nkɔpəreʃ(ə)n/ noun a

| |
its involvement in shipping’ [Lloyd’s List]
document issued by Companies House to
chain store /tʃen stɔ/ noun one
chain store
show that a company has been legally set

up and officially registered store in a chain
chair /tʃeə/ noun the position of the
chair
certificate of origin / sətfkət əv

certificate of origin
chairman, presiding over a meeting 쑗 to

|
ɒrd$n/ noun a document showing

be in the chair 쑗 Mr Smith was in the
where imported goods come from or were chair. 쑗 Mrs Brown was voted into the
made chair. 왍 Mr Jones took the chair Mr
certificate of registration /sə
certificate of registration
|
Jones presided over the meeting 왍 to ad-
tfkət əv red$streʃ(ə)n/ noun a |
dress the chair to speak to the chairman
document showing that an item has been and not to the rest of the people at the
registered meeting 쑗 Please address your remarks
certification /sətfkeʃ(ə)n/ noun
certification
| | to the chair. 쐽 verb to preside over a

the act of giving an official certificate of meeting 쑗 The meeting was chaired by
approval Mrs Smith.
certified accountant /s&tfad ə chairman /tʃeəmən/ noun 1. a person
certified accountant chairman
kaυntənt/ noun an accountant who has who is in charge of a meeting 쑗 Mr

passed the professional examinations and Howard was chairman or acted as chair-
is a member of the Chartered Association man 2. a person who presides over the
of Certified Accountants board meetings of a company 쑗 the chair-
chairman and managing director 60

man of the board or the company chair- give someone change for £10 to give
man 왍 the chairman’s report, the chair- someone coins or notes in exchange for a
man’s statement an annual report from ten pound note 2. money given back by
the chairman of a company to the share- the seller, when the buyer can pay only
holders with a larger note or coin than the amount
‘…the corporation’s entrepreneurial chair- asked 쑗 She gave me the wrong change. 쑗
man seeks a dedicated but part-time presi- You paid the £5.75 bill with a £10 note, so
dent. The new president will work a three- you should have £4.25 change. 왍 keep
day week’ [Globe and Mail (Toronto)] the change keep it as a tip (said to e.g.
chairman and managing director
chairman and managing director
waiters, taxi-drivers) 3. an alteration of

/tʃeəmən ən mnd$ŋ darektə / | the way something is done or of the way
noun a managing director who is also work is carried out 쐽 verb 1. 왍 to change
chairman of the board of directors a £20 note to give someone smaller notes
chairmanship /tʃeəmənʃp/ noun
chairmanship
or coins in place of a £20 note 2. to give
the fact of being a chairman 쑗 The com- one type of currency for another 쑗 to
mittee met under the chairmanship of Mr change £1,000 into dollars 쑗 We want to
Jones. change some traveller’s cheques. 3. 왍 to
change hands (of a business, property,
chairperson /tʃeəp&s(ə)n/ noun a
chairperson
etc.) to be sold to a new owner 쑗 The shop

person who is in charge of a meeting changed hands for £100,000.
(NOTE: The plural is chairpersons.)
change machine /tʃend$ məʃin/
change machine
chairwoman / tʃeəwυmən/ noun a

chairwoman
|
woman who is in charge of a meeting noun a machine which gives small

(NOTE: The plural is chairwomen.) change for a note or larger coin
change management /tʃend$
change management
Chamber of Commerce /tʃembər

Chamber of Commerce
əv kɒm&s/ noun a group of local busi- mnd$mənt/ noun the control and or-
ness people who meet to discuss prob- ganisation of the changes that take place
lems which they have in common and to within a business during a period when it
promote commerce in their town is adapting itself to deal with new situa-
chambers /tʃembəz/ plural noun of-
chambers tions
fice of a lawyer or judge 왍 the judge change of ownership /tʃend$ əv
change of ownership
heard the case in chambers he heard the əυnəʃp/ noun (of a business) the proc-
case in his private office, and not in court ess of being sold to a new owner 쑗 The
chance /tʃɑns/ noun 1. the fact of be-
chance
change of ownership has had an effect on
ing possible 쑗 The company has a good staff morale.
changer /tʃend$ə/ noun a person
changer
chance of winning the contract. 쑗 His

promotion chances are small. 2. the op- who changes money
portunity to do something 쑗 She is wait- channel / tʃn(ə)l/ noun a means by
channel
ing for a chance to see the managing di- which information or goods pass from
rector. 쑗 He had his chance of promotion one place to another 왍 to go through the
when the finance director’s assistant re- official channels to deal with govern-
signed. (NOTE: You have a chance of do- ment officials, especially when making a
ing something or to do something.) request 쐽 verb to send in some direction
Chancellor of the Exchequer 쑗 They are channelling their research
Chancellor of the Exchequer
/tʃɑnsələr əv ði kstʃekə/ noun the

| funds into developing European commu-
chief finance minister in a government nication systems. (NOTE: channelling –
(NOTE: The US term is Secretary of the channelled. The US spelling is chan-
Treasury.) neling – channeled.)
chandler /tʃɑndlə/ noun a person channel of distribution /tʃn(ə)l
chandler channel of distribution
who deals in goods, especially supplies to əv dstrbjuʃ(ə)n/ noun same as dis-

|
ships 쑗 There is a ship chandler’s near tribution channel

the yacht club. chapter /tʃptə/ noun US a section of
chapter
chandlery /tʃɑndləri/ noun a chan-

chandlery
an Act of Congress
dler’s shop ‘…the company filed under Chapter 11 of
change /tʃend$/ noun 1. money in
change
the federal bankruptcy code, the largest

coins or small notes. 쒁 exchange 왍 to failure ever in the steel industry’ [Fortune]
61 chartered
‘…the firm, whose trademark dates back these purchases to the company account.
to 1871, has been desperately trying to cut 4. to accuse someone formally of having
costs to compete with manufacturers in committed a crime 쑗 He was charged
cheaper countries, but has also been hit by with embezzling his clients’ money.
management problems. It said the filing chargeable /tʃɑd$əb(ə)l/ adjective
chargeable
for Chapter 11 protection should have lit-

tle impact on customers and employees able to be charged 쑗 repairs chargeable
and would allow it to restructure’ [Times] to the occupier
charge account /tʃɑd$ əkaυnt/
charge account
Chapter 7 /tʃptə sevən/ noun a

Chapter 7
|
noun an arrangement which a customer

section of the US Bankruptcy Reform Act has with a store to buy goods and to pay
1978, which sets out the rules for the liq- for them at a later date, usually when the
uidation of an incorporated company invoice is sent at the end of the month
Chapter 11 /tʃptə ten/ noun a sec-
Chapter 11
(NOTE: The customer will make regular

tion of the US Bankruptcy Reform Act monthly payments into the account and
1978, which allows a corporation to be is allowed credit of a multiple of those
protected from demands made by its cred- payments.)
itors for a period of time, while it is reor- charge by way of legal mortgage
charge by way of legal mortgage
ganised with a view to paying its debts. /tʃɑd$ ba we əv li!(ə)l mɔ!d$/
The officers of the corporation will nego- noun a way of borrowing money on the
tiate with its creditors as to the best way security of a property, where the mortga-
of reorganising the business. gor signs a deed which gives the mortga-
Chapter 13 /tʃptə θ&rtin/ noun a
Chapter 13
| gee an interest in the property

section of the Bankruptcy Reform Act charge card /tʃɑd$ kɑd/ noun a
charge card
1978, which allows a business to continue type of credit card for which a fee is pay-
trading and to pay off its creditors by reg- able, but which does not allow the user to
ular monthly payments over a period of take out a loan, e.g. American Express.
time The total sum must be charged at the end
charge /tʃɑd$/ noun 1. money which of each month.
charge
must be paid, or the price of a service 쑗 to chargee /tʃɑd$i/ noun a person who
chargee
make no charge for delivery 쑗 to make a has the right to force a debtor to pay
small charge for rental 쑗 There is no chargehand /tʃɑd$hnd/ noun a
chargehand
charge for this service or No charge is senior operator in a group of workers un-
made for this service. 2. a debit on an ac- der a foreman who has responsibility for
count 쑗 It appears as a charge on the ac- seeing that day-to-day problems are
counts. 3. management or control 왍 to be solved
in charge of something to be the manag- charges forward /tʃɑd$z fɔwəd/
charges forward
er or to deal with something 쑗 She is in noun charges which will be paid by the
charge of all our HR documentation. 왍 to customer
take charge of something to start to deal
chart / tʃɑt/ noun a diagram displaying
chart
with something or to become responsible

for something 쑗 When the manager was information as a series of lines, blocks,
ill, his deputy took charge of the depart- etc.
charter /tʃɑtə/ noun 1. a document
charter
ment. 4. a formal accusation in a court 쑗

He appeared in court on a charge of em- giving special legal rights to a group 쑗 a
bezzling or on an embezzlement charge. 쐽 shoppers’ charter or a customers’ charter
verb 1. to ask someone to pay for services 2. the action or business of hiring trans-
later 왍 to charge the packing to the cus- port for a special purpose 왍 boat on char-
tomer, to charge the customer with the ter to Mr Smith a boat which Mr Smith
packing the customer has to pay for pack- has hired for a voyage 쐽 verb to hire for a
ing 2. to ask for money to be paid 쑗 to special purpose 쑗 to charter a plane or a
charge £5 for delivery 쑗 How much does boat or a bus
he charge? 왍 he charges £16 an hour he chartered /tʃɑtəd/ adjective 1. refer-
chartered
asks to be paid £16 for an hour’s work 3. ring to a company which has been set up
to pay for something by putting it on a by charter, and not registered under the
charge account 쑗 Can you charge the Companies Act 쑗 a chartered bank 2. 왍 a
meal to my room? 쑗 I want to charge chartered ship or bus or plane a ship,
chartered accountant 62
bus or plane which has been hired for a cheat /tʃit/ verb to trick someone so
cheat
special purpose that he or she loses money 쑗 He cheated

chartered accountant /tʃɑtəd ə the Inland Revenue out of thousands of
chartered accountant
kaυntənt/ noun an accountant who has pounds. 쑗 She was accused of cheating
passed the professional examinations and clients who came to ask her for advice.
is a member of the Institute of Chartered check /tʃek/ noun 1. a sudden stop 왍 to
check
Accountants. Abbreviation CA put a check on imports to stop some im-

charterer /tʃɑtərə/ noun a person ports coming into a country 2. investiga-
charterer
who hires a ship etc. for a special purpose tion or examination 쑗 a routine check of
chartering /tʃɑtərŋ/ noun the act of
chartering
the fire equipment 쑗 The auditors carried
hiring for a special purpose out checks on the petty cash book. 3. US
(in a restaurant) a bill 4. US same as
charter party /tʃɑtə pɑt/ noun a
charter party
cheque 5. US a mark on paper to show

contract between the owner and the char- that something is correct 쑗 Make a check
terer of a ship in the box marked ‘R’. (NOTE: The UK
chartist /tʃɑtst/ noun a person who
chartist
term is tick.) 쐽 verb 1. to stop or delay

studies stock market trends and forecasts something 쑗 to check the entry of contra-
future rises or falls band into the country 쑗 to check the flow
chase /tʃes/ verb to try to speed up of money out of a country 2. to examine or
chase
work by asking how it is progressing 쑗 to investigate something 쑗 to check that

We are trying to chase up the accounts de- an invoice is correct 쑗 to check and sign
partment for the cheque. 쑗 We will chase for goods 왍 she checked the computer
your order with the production depart- printout against the invoices she exam-
ment. ined the printout and the invoices to see if
chaser /tʃesə/ noun a letter to remind
chaser
the figures were the same 3. US to mark
someone of something (especially to re- something with a sign to show that it is
mind a customer that an invoice has not correct 쑗 check the box marked ‘R’
been paid) 쑗 The computer automatically (NOTE: The UK term is tick.)
sends chasers after sixty days to custom- check in phrasal verb 1. (at a hotel ) to
ers who have not paid. arrive at a hotel and sign for a room 쑗 he
checked in at 12.15 2. (at an airport) to
chattels /tʃt(ə)lz/ plural noun goods,
chattels
moveable property but not real estate give in your ticket to show you are ready
to take the flight 3. 왍 to check baggage
cheap /tʃip/ adjective, adverb not
cheap
in to pass your baggage to the airline to

costing a lot of money or not expensive 왍 put it on the plane for you
to buy something cheap at a low price 쑗 check out phrasal verb 1. (at a hotel)
He bought two companies cheap and sold to leave and pay for a room 쑗 We will
them again at a profit. 왍 they work out check out before breakfast. 2. to go
cheaper by the box these items are through a checkout and pay for the
cheaper per unit if you buy a box of them goods bought
cheap labour /tʃip lebə/ noun checkbook /tʃekbυk/ noun US spell-
cheap labour
checkbook
workers who do not earn much money ing of cheque book

cheaply /tʃipli/ adverb without pay- check-in /tʃek n/ noun a place where
cheaply
check-in
ing much money 쑗 The salesman was liv- passengers give in their tickets for a flight
ing cheaply at home and claiming an 쑗 The check-in is on the first floor.
enormous hotel bill on expenses. check-in counter /tʃek n kaυntə/
check-in counter
cheap money /tʃip mni/ noun

cheap money
noun a place where plane passengers

money which can be borrowed at a low have to check in
rate of interest checking /tʃekŋ/ noun an examina-
checking
cheapness /tʃipnəs/ noun the fact of tion or investigation 쑗 The inspectors

cheapness
being cheap 쑗 The cheapness of the found some defects during their checking
pound means that many more tourists will of the building.
come to London. checking account /tʃekŋ əkaυnt/
checking account
cheap rate /tʃip ret/ noun a rate noun US same as current account 1
cheap rate
which is not expensive 쑗 Cheap rate check-in time /tʃek n tam/ noun a
check-in time
phone calls start at 8 p.m. time at which passengers should check in

63 Chinese walls
checklist /tʃeklst/ noun a list of some amount, even if the user has no
checklist
points which have to be checked before money in his account

something can be regarded as finished, or cheque requisition /tʃek
cheque requisition
as part of a procedure for evaluating rekwzʃ(ə)n/ noun an official note

something from a department to the company ac-
checkoff /tʃekɒf/ noun US a system counts staff asking for a cheque to be
checkoff
where union dues are automatically de- written

ducted by the employer from an employ- cheque stub /tʃek stb/ noun a piece
cheque stub
ee’s pay cheque 쑗 Checkoffs are seen by of paper left in a cheque book after a
most employees as worthwhile as long as cheque has been written and taken out
their interests are well represented by the cherry-picking /tʃeri pkŋ/ noun
cherry-picking
union. 쑗 After checkoffs and tax deduc- the practice of choosing only the best or
tions the employees’ pay had been re- most valuable items from among a group
duced by one third.
chief /tʃif/ adjective most important 쑗
chief
checkout /tʃekaυt/ noun the place

checkout
He is the chief accountant of an industrial

where goods are paid for in a shop or su- group. 쑗 She is the chief buyer for a de-
permarket 쑗 We have opened two more partment store.
checkouts to cope with the Saturday rush.
chief executive /tʃif !zekjυtv/,
chief executive
check sample /tʃek sɑmp(ə)l/

check sample |
chief executive officer /tʃif ! |
noun a sample to be used to see if a con- zekjυtv ɒfsə/ noun US the most im-
signment is acceptable portant director in charge of a company.
cheque /tʃek/ noun a note to a bank
cheque
Abbreviation CEO
asking them to pay money from your ac- chief financial officer /tʃif fa
chief financial officer
count to the account of the person whose

|
nnʃəl ɒfsə/ noun an executive in

name is written on the note 쑗 a cheque for
charge of a company’s financial opera-
£10 or a £10 cheque (NOTE: The US tions, reporting to the CEO. Abbreviation
spelling is check.) 왍 cheque to the bear-
CFO
er a cheque with no name written on it, so
chief information officer /tʃif nfə
chief information officer
that the person who holds it can cash it 왍 |
to endorse a cheque to sign a cheque on meʃ(ə)n ɒfsə/ noun the most senior
the back to show that you accept it 왍 to person with responsibility for an organi-
make out a cheque to someone to write sation’s information systems and some-
someone’s name on a cheque 쑗 Who shall times also for its e-business technology.
I make the cheque out to? 왍 to pay by Abbreviation CIO
chief operating officer /tʃif
chief operating officer
cheque to pay by writing a cheque, and

not using cash or a credit card 왍 to pay a ɒpəretŋ ɒfsə/ noun a director in
cheque into your account to deposit a charge of all a company’s operations
cheque 왍 the bank referred the cheque (same as a ‘managing director’). Abbrevi-
to the drawer the bank returned the ation COO
cheque to the person who wrote it because Chief Secretary to the Treasury
Chief Secretary to the Treasury
there was not enough money in the ac- /tʃif sekrətri tə θə tre$(ə)ri/ noun a
count to pay it 왍 to sign a cheque to sign government minister responsible to the
on the front of a cheque to show that you Chancellor of the Exchequer for the con-
authorise the bank to pay the money from trol of public expenditure (NOTE: In the
your account 왍 to stop a cheque to ask a USA, this is the responsibility of the Di-
bank not to pay a cheque which has been rector of the Budget.)
signed and sent chief technology officer / tʃif tek
chief technology officer
cheque account /tʃek əkaυnt/ nɒləd$i ɒfsə/, chief technical officer

cheque account
noun same as current account /tʃif teknk(ə)l ɒfsə/ noun the most
cheque book /tʃek bυk/ noun a senior person with responsibility for an
cheque book
booklet with new blank cheques (NOTE: organisation’s research and development
The usual US term is checkbook.) activities and sometimes for its new prod-
cheque card /tʃek kɑd/, cheque uct plans. Abbreviation CTO
cheque card
guarantee card /tʃek !rənti kɑd/ Chinese walls /tʃaniz wɔlz/ plu-
Chinese walls
noun a plastic card from a bank which ral noun imaginary barriers between de-
guarantees payment of a cheque up to partments in the same organisation, set up
chit 64
to avoid insider dealing or conflict of in- count in order to earn their commission.
terest. For example, if a merchant bank is The deals are frequently of no advantage
advising on a planned takeover bid, its in- to the client. 2. a practice employed by in-
vestment department should not know surance salesmen where the salesman
that the bid is taking place, or they would suggests that a client should change his or
advise their clients to invest in the compa- her insurance policy solely in order to
ny being taken over. earn the salesman a commission
chit /tʃt/ noun a bill (for food or drink ‘…more small investors lose money
chit
in a club) through churning than almost any other

abuse, yet most people have never heard of
choice /tʃɔs/ noun 1. a thing which is
choice
it. Churning involves brokers generating

chosen 쑗 You must give the customer time income simply by buying and selling in-
to make their choice. 2. a range of items vestments on behalf of their clients. Con-
to choose from 쑗 We have only a limited stant and needless churning earns them
choice of suppliers. 왍 the shop carries a hefty commissions which bites into the in-
good choice of paper the shop carries vestment portfolio’ [Guardian]
many types of paper to choose from 쐽 ad- churn rate /tʃ&n ret/ noun 1. a
churn rate
jective (of food) specially selected 쑗 measurement of how often new custom-
choice meat 쑗 choice wines 쑗 choice ers try a product or service and then stop
foodstuffs using it 2. a measurement of how many
choose /tʃuz/ verb to decide to do a
choose
stocks and bonds are traded in a broker-

particular thing or to buy a particular item age account and how often they are traded
(as opposed to something else) 쑗 There CIF, c.i.f. abbr cost, insurance, and
CIF
were several good candidates to choose freight

from. 쑗 They chose the only woman appli- circular /s&kjυlə/ adjective sent to
circular
cant as sales director. 쑗 You must give the many people 쐽 noun a leaflet or letter
customers plenty of time to choose. sent to many people 쑗 They sent out a cir-
(NOTE: choosing – chose – has cho- cular offering a 10% discount. 쑗 Senior
sen) management sent out a circular to all the
chop /tʃɒp/ noun a mark made on a doc-
chop
employees explaining the changes in the

ument to show that it has been agreed, ac- payment scheme.
knowledged, paid, or that payment has circularise /s&kjυləraz/, circular-
circularise
been received ize verb to send a circular to 쑗 The com-

/krsməs
Christmas bonus
Christmas bonus mittee has agreed to circularise the mem-

bəυnəs/ noun an extra payment made to bers of the society. 쑗 They circularised all
staff at Christmas their customers with a new list of prices.
chronological order circular letter /s&kjυlə letə/ noun a
chronological order circular letter
/krɒnəlɒd$k(ə)l ɔdə/ noun the ar- letter sent to many people

rangement of records such as files and in- circular letter of credit /s&kjυlə
circular letter of credit
voices in order of their dates letər əv kredt/ noun a letter of credit

churn / tʃ&n/ verb 1. to be in a situation sent to all branches of the bank which is-
churn
where many employees stay for only a sues it

short time and then leave and have to be circulate /s&kjυlet/ verb 1. 왍 to cir-
circulate
replaced 2. to buy many different prod- culate freely (of money) to move about
ucts or services one after the other with- without restriction by the government 2.
out showing loyalty to any of them (NOTE: to send or to give out without restrictions
Churning often happens when compa- 왍 to circulate money to issue money, to
nies have competitive marketing strate- make money available to the public and
gies and continually undercut their ri- industry 3. to send information to 쑗 They
vals’ prices. This encourages customers circulated a new list of prices to all their
to switch brands constantly in order to customers. 쑗 They circulated information
take advantage of cheaper or more at- about job vacancies to all colleges in the
tractive offers.) area.
churning /tʃ&nŋ/ noun 1. a practice circulating capital /s&kjυletŋ
churning circulating capital
employed by stockbrokers, where they kpt(ə)l/ noun capital in the form of

buy and sell on a client’s discretionary ac- cash or debtors, raw materials, finished
65 claiming
products and work in progress which a civil engineering /sv(ə)l end$
civil engineering
company requires to carry on its business nərŋ/ noun the construction of roads,
circulation /s&kjυleʃ(ə)n/ noun 1. bridges, railways, etc.
circulation
civil law /sv(ə)l lɔ/ noun laws relat-

civil law
the act of sending information 쑗 The com-

pany is trying to improve the circulation ing to people’s rights and to agreements
of information between departments. 2. between individuals
movement 왍 to put money into circula- civil servant /sv(ə)l s&vənt/ noun a
civil servant
tion to issue new notes to business and the person who works in the civil service
public 쑗 The amount of money in circula- civil service /sv(ə)l s&vs/ noun the
civil service
tion increased more than was expected. 3. organisation and personnel which admin-
the number of readers of a newspaper or ister a country 쑗 You have to pass an ex-
magazine. It is audited and is not the same amination to get a job in the civil service
as ‘readership’. or to get a civil service job.
circulation battle /s&kjυleʃ(ə)n claim /klem/ noun 1. an act of asking
circulation battle
claim
bt(ə)l/ noun a competition between for something that you feel you have a
two papers to try to sell more copies in the right to 왍 the union put in a 6% wage
same market claim the union asked for a 6% increase
circulation of capital
circulation of capital in wages for its members 2. an act of stat-

/s&kjυleʃ(ə)n əv kpt(ə)l/ noun a ing that something is a fact 쑗 Her claim
movement of capital from one investment that she had been authorised to take the
to another money was demonstrably false. 3. an act
Citizens Advice Bureau
Citizens Advice Bureau of asking for money from an insurance

/stz(ə)nz ədvas bjυərəυ/ noun an
company when something you insured
against has taken place 왍 to put in a
|
office where people can go to get free ad-

claim to ask the insurance company offi-
vice on legal and administrative prob-
lems. Abbreviation CAB cially to pay damages 쑗 to put in a claim
for repairs to the car 쑗 She put in a claim
city /st/ noun 1. a large town 쑗 The
city
for £250,000 damages against the driver

largest cities in Europe are linked by of the other car. 왍 to settle a claim to
hourly flights. 2. 왍 they say in the City agree to pay what is asked for 쑗 The in-
that the company has been sold the surance company refused to settle his
London business world is saying that the claim for storm damage. 쐽 verb 1. to ask
company has been sold 3. the old centre for money, especially from an insurance
of London, where banks and large compa- company 쑗 He claimed £100,000 damag-
nies have their main offices; the British fi- es against the cleaning firm. 쑗 She
nancial centre 쑗 he works in the City or he claimed for repairs to the car against her
is in the City insurance policy. 2. to say that you have a
City desk /sti desk/ noun the depart-
City desk
right to something or that something is

ment in a British newspaper which deals your property 쑗 She is claiming posses-
with business news sion of the house. 쑗 No one claimed the
City editor /sti edtə/ noun the busi-
City editor
umbrella found in my office. 3. to state
ness and finance editor of a British news- that something is a fact 쑗 He claims he
paper never received the goods. 쑗 She claims
City Panel on Takeovers and Mergers that the shares are her property.
City Panel on Takeovers and claim back phrasal verb to ask for
Mergers noun same as Takeover Pan- money to be paid back
el
claimant /klemənt/ noun a person
claimant
civil /sv(ə)l/ adjective referring to ordi-

civil
who makes a claim against someone in

nary people the civil courts (NOTE: This term has now
civil action /sv(ə)l kʃən/ noun a
civil action
replaced plaintiff. The other side in a

court case brought by a person or a com- case is the defendant.)
pany against someone who has done them claim form /klem fɔm/ noun a form
claim form
wrong which has to be filled in when making an

civil engineer /sv(ə)l end$nə/ insurance claim
civil engineer
noun a person who specializes in the con- claiming /klemŋ/ noun the act of
claiming
struction of roads, bridges, railways, etc. making a claim

claims department 66
department /klemz d shareholders, so as to maintain the value
claims department
claims |
pɑtmənt/ noun a department of an in- of their holdings

surance company which deals with claims clean /klin/ adjective with no problems
clean
claims manager /klemz mnd$ə/ or no record of offences

claims manager
noun the manager of a claims department clean bill of lading /klin bl əv
clean bill of lading
class /klɑs/ noun a category or group

class
ledŋ/ noun a bill of lading with no note

into which things are classified to say the shipment is faulty or damaged
clean float /klin fləυt/ noun an act of
clean float
class action / klɑs kʃən/, class

class action
suit /klɑs sut/ noun US a legal action floating a currency freely on the interna-
brought on behalf of a group of people tional markets, without any interference
from the government
/klsfkeʃ(ə)n/
classification
classification
clear /klə/ adjective 1. easily under-
|
clear
noun arrangement into classes or catego-

ries according to specific characteristics stood 쑗 When the cheque bounced, it was
쑗 the classification of employees by ages a clear sign that the company was in trou-
or skills 쑗 Jobs in this organisation fall ble. 쑗 He made it clear that he wanted the
into several classifications. manager to resign. 쑗 You will have to
classified advertisements make it clear to the staff that productivity
classified advertisements is falling. 2. (of a period of time) free, to-
/klsfad ədv&tsmənts /, classified
|
tal 왍 three clear days three whole work-

ads /klsfad dz/ plural noun adver- ing days 쑗 Allow three clear days for the
tisements listed in a newspaper under spe- cheque to be paid into your account. 쐽
cial headings such as ‘property for sale’ verb 1. to sell something cheaply in order
or ‘jobs wanted’ 쑗 Look in the small ads to get rid of stock 쑗 ‘Demonstration mod-
to see if anyone has a filing cabinet for els to clear’ 2. 왍 to clear goods through
sale. customs to have all documentation
classified directory /klsfad da
classified directory
|
passed by customs so that goods can enter
rekt(ə)ri/ noun a list of businesses or leave the country 3. 왍 to clear 10%,
grouped under various headings such as $5,000 on the deal to make 10% or
computer shops or newsagents $5,000 clear profit 왍 we cleared only our
classify /klsfa/ verb to put into expenses the sales revenue only paid for
classify
classes or categories according to specific the costs and expenses without making
characteristics (NOTE: classifies – clas- any profit 4. 왍 to clear a cheque to pass
sifying – classified) a cheque through the banking system, so
clause /klɔz/ noun a section of a con-
clause
that the money is transferred from the
tract 쑗 There are ten clauses in the con- payer’s account to another 쑗 the cheque
tract of employment. 쑗 There is a clause took ten days to clear or the bank took ten
in this contract concerning the employ- days to clear the cheque
er’s right to dismiss an employee. 쐽 verb clear off phrasal verb 왍 to clear off a
to list details of the relevant parties to a debt to pay all of a debt
clearance /klərəns/ noun 1. 왍 to ef-
clearance
bill of exchange
claused bill of lading /klɔzd bl əv
claused bill of lading
fect customs clearance to clear goods
ledŋ/ noun a bill of lading stating that through customs 2. 왍 clearance of a
goods did not arrive on board in good cheque passing of a cheque through the
condition banking system, transferring money from
claw back phrasal verb to take back one account to another 쑗 You should al-
low six days for cheque clearance.
money which has been allocated 쑗 In-
clearance certificate /klərəns sə
clearance certificate
come tax claws back 25% of pensions |
paid out by the government. 쑗 Of the tfkət/ noun a document showing that
£1m allocated to the project, the gov- goods have been passed by customs
clearance sale /klərəns sel/ noun a
clearance sale
ernment clawed back £100,000 in taxes.

clawback /klɔbk/ noun 1. money sale of items at low prices to get rid of
clawback
taken back, especially money taken back stock

clearing /klərŋ/ noun 1. 왍 clearing
clearing
by the government from grants or tax con-

cessions which had previously been made of goods through customs passing of
2. the allocation of new shares to existing goods through customs 2. 왍 clearing of a
67 clocking in
debt paying all of a debt 3. an act of pass- clicks-and-mortar /klks ən mɔtə/
clicks-and-mortar
ing of a cheque through the banking sys- adjective conducting business both
tem, transferring money from one ac- through e-commerce and also in the tradi-
count to another tional way in buildings such as shops and
clearing bank /klərŋ bŋk/ noun a warehouses. Compare bricks-and-mor-
clearing bank
bank which clears cheques, especially tar

one of the major British High Street ‘…there may be a silver lining for ‘clicks-
banks, specialising in usual banking busi- and-mortar’ stores that have both an online
ness for ordinary customers such as loans, and a high street presence. Many of these
cheques, overdrafts and interest-bearing are accepting returns of goods purchased
deposits online at their traditional stores. This is a
service that may make them more popular
clearing house /klərŋ haυs/ noun a
clearing house
as consumers become more experienced

central office where clearing banks ex- online shoppers’ [Financial Times]
change cheques, or where stock exchange
client /klaənt/ noun a person with
client
or commodity exchange transactions are

settled whom business is done or who pays for a
service 쑗 One of our major clients has de-
clear profit /klə prɒft/ noun a profit
clear profit
faulted on her payments.

after all expenses have been paid 쑗 We
client base /klaənt bes/ noun same
client base
made $6,000 clear profit on the deal.

as client list
clerical / klerk(ə)l/ adjective (of work)
clerical
clientele /kliɒntel/ noun all the cli-

clientele
done in an office or done by a clerk |
ents of a business or all the customers of

clerical assistance /klerk(ə)l ə
clerical assistance
|
a shop
sst(ə)ns/ noun help with office work
client list /klaənt lst/ noun a list of
client list
clerical error /klerk(ə)l erə/ noun a

clerical error
clients of an advertising agency

mistake made by someone doing office
climb /klam/ verb to go up 쑗 The com-
climb
work
pany has climbed to No. 1 position in the
clerical staff /klerk(ə)l stɑf/ noun
clerical staff
market. 쑗 Profits climbed rapidly as the

people who work in offices new management cut costs.
clerical work /klerk(ə)l w&k/ noun
clerical work
clinch /klntʃ/ verb to settle (a business

clinch
work done in an office deal), to come to an agreement 쑗 He of-

clerical worker /klerk(ə)l w&kə/
clerical worker
fered an extra 5% to clinch the deal. 쑗

noun a person who works in an office They need approval from the board before
clerk /klɑk/ noun a person who works they can clinch the deal.
clerk
in an office 쐽 verb US to work as a clerk clipping service /klpŋ s&vs/

clipping service
noun the service of cutting out references

CLI
CLI abbr calling line identification

clickable corporation /klkəbl
clickable corporation
to a client in newspapers or magazines
kɔpəreʃ(ə)n/ noun a company that
|
and sending them to him
operates on the Internet clock in, clock on phrasal verb (of a
worker ) to record the time of arriving
clicks and bricks /klks ən brks/
clicks and bricks
for work by putting a card into a special

noun a way of doing business that com-
timing machine 쑗 If workers do not
bines e-commerce and traditional shops clock in on arrival at the factory, they
clicks and mortar /klks ən mɔtə/
clicks and mortar
may be sent a written warning.

noun a combination of computers and clock out, clock off phrasal verb (of a
shop premises, as in a group which sells worker ) to record the time of leaving
over the Internet but also maintains a work by putting a card into a special
chain of normal shops timing machine
‘…there may be a silver lining for ‘clicks- clock card /klɒk kɑd/ noun a special
clock card
and-mortar’ stores that have both an online card which a worker puts into the time
and a high street presence. Many of these
are accepting returns of goods purchased clock when clocking on or off
clocking in /klɒkŋ n/, clocking on
clocking in
online at their traditional stores. This is a

service that may make them more popular /klɒkŋ ɒn/ noun the act of arriving for
as consumers become more experienced work and recording the time on a time-
online shoppers’ [Financial Times] card
clocking out 68
clocking out /klɒkŋ aυt/, clocking only with one agent or distributor and
clocking out
off /klɒkŋ ɒf/ noun the act of leaving does not supply any others direct 쑗 They
work and recording the time on a time- signed a closed-market agreement with
card an Egyptian company.
close /kləυs/ noun the end of a day’s closed shop /kləυzd ʃɒp/ noun a sys-
close closed shop
trading on the Stock Exchange 쑗 At the tem where a company agrees to employ
close shares had fallen 20%. 쐽 adjective only union members for specific jobs 쑗
왍 close to very near, almost 쑗 The compa- The union is asking the management to
ny was close to bankruptcy. 쑗 We are agree to a closed shop.
close to meeting our sales targets. 쐽 verb COMMENT: Closed shops are illegal in
1. 왍 to close the accounts to come to the many countries.
closing /kləυzŋ/ adjective 1. final or
closing
end of an accounting period and make up

the profit and loss account 2. to bring coming at the end 2. at the end of an ac-
something to an end 왍 she closed his counting period 쑗 At the end of the quar-
building society account she took all the ter the bookkeeper has to calculate the
money out and stopped using the account closing balance. 쐽 noun 1. the shutting of
3. to stop doing business for the day 쑗 a shop or being shut 2. 왍 the closing of an
The office closes at 5.30. 쑗 We close early account the act of stopping supply to a
on Saturdays. 4. 왍 the shares closed at customer on credit
closing bid /kləυzŋ bd/ noun the
closing bid
$15 at the end of the day’s trading the

price of the shares was $15 last bid at an auction, the bid which is suc-
close down phrasal verb 1. to shut a cessful
closing date /kləυzŋ det/ noun the
closing date
shop, factory or service for a long peri-

od or for ever 쑗 The company is closing last date 쑗 The closing date for tenders to
down its London office. 쑗 The accident be received is May 1st.
closed down the station for a period. 2. closing-down sale /kləυzŋ daυn
closing-down sale
(of a shop, factory or service) to stop sel/ noun the sale of goods when a shop
doing business or operating is closing for ever
‘…the best thing would be to have a few closing price /kləυzŋ pras/ noun
closing price
more plants close down and bring supply the price of a share at the end of a day’s
more in line with current demand’ [For- trading
tune]
closing stock /kləυzŋ stɒk/ noun a
closing stock
close company /kləυs kmp(ə)ni/

close company
business’s remaining stock at the end of

noun a privately owned company control- an accounting period. It includes finished
led by a few shareholders (in the UK, few- products, raw materials, or work in
er than five) where the public may own a progress and is deducted from the peri-
small number of the shares (NOTE: The od’s costs in the balance sheets. 쑗 At the
US term is close corporation or closed end of the month the closing stock was
corporation.) 10% higher than at the end of the previ-
closed /kləυzd/ adjective 1. not open
closed
ous month.
for business, or not doing business 쑗 The closing time /kləυzŋ tam/ noun the
closing time
office is closed on Mondays. 쑗 These time when a shop or office stops work
warehouses are usually closed to the pub- closure / kləυ$ə/ noun the act of clos-
closure
lic. 쑗 All the banks are closed on Christ- ing

mas Day. 2. restricted
cm abbr centimetre
cm
closed-end credit /kləυzd end

closed-end credit
C/N abbr credit note

C/N
kredt/ noun a loan, plus any interest

Co. abbr company 쑗 J. Smith & Co.
Co.
and finance charges, that is to be repaid in

co- /kəυ/ prefix working or acting to-
co-
full by a specified future date. Loans that

have property or motor vehicles as collat- gether
eral are usually closed-end. 쒁 revolving c/o abbr care of
c/o
credit (NOTE: Most loans for the pur- co-browsing /kəυ braυzŋ/ noun the
co-browsing
chase of property or motor vehicles are synchronisation of two or more browsers

closed-end credits.) so that their users can see the same web
closed market /kləυzd mɑkt/
closed market
pages at the same time. Also known as

noun a market where a supplier deals page pushing
69 collateral
co-creditor /kəυ kredtə/ noun a coinage / kɔnd$/ noun a system of
co-creditor coinage
person who is a creditor of the same com- metal money used in a country
pany as you are co-insurance /kəυ nʃυərəns/ noun
co-insurance
COD, c.o.d. abbr cash on delivery

COD
an insurance policy where the risk is

code /kəυd/ noun 1. a system of signs, shared among several insurers
code
cold /kəυld/ adjective without being

cold
numbers or letters which mean something

2. a set of rules prepared
codec /kəυdek/ noun a device that
codec
‘…the board is considering the introduc-

compresses and decompresses the audio tion of a set of common provisions on un-
and video signals used in videoconferenc- solicited calls to investors. The board is
ing and that can be located either in the aiming to permit the cold calling of cus-
users’ software or their hardware tomer agreements for the provision of
services relating to listed securities. Cold
code of conduct /kəυd əv
code of conduct
calling would be allowed when the inves-

kɒndkt/ noun the guideline showing tor is not a private investor’ [Accountancy]
how someone (such as shop assistants or cold call /kəυld kɔl/ noun a tele-
cold call
railway station staff) should behave to- phone call or sales visit where the sales-
wards customers person has no appointment and the client
code of practice /kəυd əv prkts/
code of practice
is not an established customer 쐽 verb to

noun rules drawn up by an association make a cold call
which the members must follow when do- cold start / kəυld stɑt/ noun the act
cold start
ing business of beginning a new business or opening a

coding /kəυdŋ/ noun the act of
coding
new shop with no previous turnover to

putting a code on something 쑗 the coding base it on
of invoices cold storage /kəυld stɔrd$/ noun
cold storage
co-director /kəυ darektə/ noun a

co-director
|
the keeping of food in a cold store to pre-
person who is a director of the same com- vent it or other goods from going bad
pany as you cold store /kəυld stɔ/ noun a ware-
cold store
coefficient of correlation /kəυ

coefficient of correlation
|
house or room where food can be kept
fʃ(ə)nt əv kɒrəleʃ(ə)n/ noun a meas-
|
cold
urement of correlation or relationship be- collaborate /kəlbəret/ verb to
collaborate
tween two sets of data on a continuum work together 쑗 We collaborated with a

from –1 to +1 French firm on a building project. 쑗 They
coffee break /kɒfi brek/ noun a rest
coffee break
collaborated on the new aircraft. (NOTE:

time during work when the employees You collaborate with someone on
can drink coffee or tea something.)
cognitive processing /kɒ!ntv
cognitive processing
collaboration /kəlbəreʃ(ə)n/

collaboration
prəυsesŋ/ noun the way in which a per-

| |
noun the act of working together 쑗 Their

son changes external information into collaboration on the project was very
patterns of thought and how these are profitable.
used to form judgments or choices collapse /kəlps/ noun 1. a sudden
collapse
cohesion fund /kəυhi$(ə)n fnd/

|
cohesion fund
|
fall in price 쑗 the collapse of the market
noun a fund that is designed to even out in silver 쑗 the collapse of the dollar on
economic and social inequalities among the foreign exchange markets 2. a sudden
member countries of the European Union failure 쑗 the collapse of the pay negotia-
by providing financial help for major en- tions 쑗 Investors lost thousands of pounds
vironmental and transport projects in the collapse of the company. 쐽 verb 1.
cohort /kəυhɔt/ noun a group of peo- to fall suddenly 쑗 The market in silver
cohort
ple who do the same thing at the same collapsed. 쑗 The yen collapsed on the for-
time (such as a group of managers who eign exchange markets. 2. to fail suddenly
joined a company as trainees together) 쑗 The company collapsed with £250,000
coin /kɔn/ noun a piece of metal money
coin
in debts. 쑗 Talks between management
쑗 He gave me two 10-cent coins in my and unions collapsed last night.
change. 쑗 I need some 10p coins for the collateral /kəlt(ə)rəl/ adjective used
collateral
telephone. to provide a guarantee for a loan 쐽 noun

colleague 70
a security, such as negotiable instruments, collective /kəlektv/ adjective refer-
collective
shares or goods, used to provide a guaran- ring to a group of people together

tee for a loan collective ownership /kəlektv
collective ownership
‘…examiners have come to inspect the əυnəʃp/ noun ownership of a business

collateral that thrifts may use in borrowing by the employees who work in it
from the Fed’ [Wall Street Journal] collective wage agreement /kə
collective wage agreement
colleague /kɒli!/ noun 1. a person lektv wed$ ə!rimənt/ noun an

colleague
who does the same type of work as anoth- agreement signed between management
er 쑗 His colleagues gave him a present and the trade union about wages
when he got married. 쑗 I know Jane Gray collector /kəlektə/ noun a person who
collector
– she was a colleague of mine at my last makes people pay money which is owed
job. 쑗 She was unpopular with her col- 쑗 He works as a debt collector.
leagues in the machine room. 2. a person
collocation hosting / kɒləkeʃ(ə)n
collocation hosting
who works in the same organisation as |
həυstŋ/ noun a (hosting option) in

another
which a business places its own servers
collect /kəlekt/ verb 1. to get money
collect
|
with a hosting company and controls eve-
which is owed to you by making the per- rything that happens on its website. The
son who owes it pay 왍 to collect a debt to hosting company simply provides an
go and make someone pay a debt 2. to agreed speed of access to the Internet and
take things away from a place 쑗 We have an agreed amount of (data transfer), and
to collect the stock from the warehouse. 왍 ensures that the business’s server is up
letters are collected twice a day the post and running.
office workers take them from the letter colour /klə/ noun a shade which an
colour
box to the post office for dispatch 쐽 ad- object has in light (red, blue, yellow, etc.)
verb, adjective referring to a phone call (NOTE: The usual US spelling is color.)
which the person receiving the call agrees
colour printer /klə prntə/ noun a
colour printer
to pay for
printer which prints material in colour 쑗
collect call /kəlekt kɔl/ noun a tele-
collect call
|
All our publicity leaflets are printed on
phone call which the person receiving the the colour printer here in the office.
call agrees to pay for colour swatch /klə swɒtʃ/ noun a
colour swatch
/kəlektŋ
collecting agency
collecting agency |
small sample of colour which the finished
ed$ənsi/ noun an agency which collects product must look like
money owed to other companies for a column /kɒləm/ noun 1. a series of
column
commission numbers arranged one underneath the

collection /kəlekʃən/ noun 1. the act
collection
| other 쑗 to add up a column of figures 쑗

of getting money together, or of making Put the total at the bottom of the column.
someone pay money which is owed 쑗 tax 2. a section of printed words in a newspa-
collection or collection of tax 왍 bills for per or magazine
collection bills where payment is due 2. combination /kɒmbneʃ(ə)n/ noun
combination
the fetching of goods 쑗 The stock is in the 1. several things which are joined togeth-
warehouse awaiting collection. 왍 to hand er 쑗 A combination of cash flow problems
something in for collection to leave and difficult trading conditions caused
something for someone to come and col- the company’s collapse. 2. a series of
lect 3. the act of taking letters from a letter numbers which open a special lock 쑗 I
box or mail room to the post office for dis- have forgotten the combination of the lock
patch 쑗 There are four collections a day on my briefcase. 쑗 The office safe has a
from the letter box at the corner of the combination lock.
street. 쑗 There are six collections a day combine noun /kɒmban/ a large fi-
combine
from the letter box. nancial or commercial group 쑗 a German

/kəlekʃən industrial combine 쐽 verb /kəmban/ to
collection charge
collection charge |
|
tʃɑd$z/, collection rate /kəlekʃən|

join together 쑗 The workforce and man-
ret/ noun a charge for collecting some- agement combined to fight the takeover
thing bid.
collections /kəlekʃənz/ plural noun comeback /kmbk/ noun a means
collections comeback
money which has been collected of getting compensation for a complaint

71 commission
or claim 쑗 If you throw away the till react of making something into a business
ceipt you will have no comeback if the run for profit 쑗 the commercialisation of
goods turn out to be faulty. museums
command economy /kəmɑnd  commercialise /kəm&ʃəlaz/, com-
command economy commercialise
| | |
kɒnəmi/ noun same as planned econo- mercialize verb to make something into
my a business 쑗 The holiday town has be-
commerce /kɒm&s/ noun the buying come unpleasantly commercialised.
commerce
and selling of goods and services commercial law /kəm&ʃ(ə)l lɔ/

commercial law
commercial /kəm&ʃ(ə)l/ adjective 1. noun the laws regarding business

commercial
referring to business 2. profitable 왍 not a commercial lawyer /kəm&ʃ(ə)l

commercial lawyer
commercial proposition not likely to lɔjə/ noun a person who specialises in

make a profit 쐽 noun an advertisement on company law or who advises companies
television on legal problems
commercial aircraft /kəm&ʃ(ə)l commercial load /kəm&ʃ(ə)l ləυd/
commercial aircraft commercial load
|
|
eəkrɑft/ noun an aircraft used to carry noun the amount of goods or number of
cargo or passengers for payment passengers which a bus, train, or plane
commercial artist /kəm&ʃ(ə)l has to carry to make a profit
commercial artist
ɑtst/ noun an artist who designs adver- commercially /kəm&ʃ(ə)li/ adverb

commercially
tisements, posters, etc. for payment in a business way 왍 not commercially vi-
commercial attaché /kəm&ʃ(ə)l ə able not likely to make a profit
commercial attaché
| |
tʃe/ noun a diplomat whose job is to commercial port /kəm&ʃ(ə)l pɔt/

commercial port
promote the commercial interests of his noun a port which has only goods traffic
or her country and no passengers
commercial bank /kəm&ʃ(ə)l commercial property /kəm&ʃ(ə)l
commercial bank
commercial property
|
|
bŋk/ noun a bank which offers banking prɒpəti/ noun a building, or buildings,
services to the public, as opposed to a used as offices or shops
merchant bank commercial traveller /kəm&ʃ(ə)l
commercial traveller
commercial break /kəm&ʃ(ə)l trv(ə)lə/ noun a salesperson who trav-

commercial break
brek/ noun the time set aside for com- els round an area visiting customers on
mercials on television 쑗 The advertiser behalf of his or her company ( NOTE: The
wished to specify exactly when in the modern term for a commercial traveller
commercial break the advertisements is sales representative.)
were to appear. 쑗 The advertising manag- commercial value /kəm&ʃ(ə)l
commercial value
er placed one advertisement in each com- vlju/ noun the value that a thing
mercial break of the day on the radio would have if it were offered for sale 왍
channel. ‘sample only – of no commercial value’
commercial college /kəm&ʃ(ə)l
commercial college
|
these goods are intended only as a sample
kɒld$/ noun a college which teaches and would not be worth anything if sold
business studies commercial vehicle /kəm&ʃ(ə)l
commercial vehicle
commercial course / kəm&ʃ(ə)l

|
vik(ə)l/ noun a van or truck used for

commercial course
kɔs/ noun a course where business skills business purposes

are studied 쑗 He took a commercial commercial version /kəm&ʃ(ə)l
commercial version
course by correspondence. v&ʃ(ə)n/ noun the version of a computer

commercial directory /kəm&ʃ(ə)l
commercial directory
|
program that is sold to customers, as op-
darekt(ə)ri/ noun a book which lists all
|
posed to a test or beta version, which is
the businesses and business people in a used for development and testing
town commission /kəmʃ(ə)n/ noun 1.
commission
commercial district /kəm&ʃ(ə)l

|
commercial district
|
money paid to a salesperson or agent,
dstrkt/ noun the part of a town where usually a percentage of the sales made 쑗
offices and shops are located She gets 10% commission on everything
commercial failure /kəm&ʃ(ə)l
commercial failure
|
she sells. 쑗 He is paid on a commission
feljə/ noun a financial collapse or bank- basis. 왍 he charges 10% commission he
ruptcy asks for 10% of sales as his payment 2. a
commercialisation /kəm&ʃ(ə)la
commercialisation
| | group of people officially appointed to

zeʃ(ə)n/, commercialization noun the examine some problem 쑗 He is the chair-
commission agent 72
man of the government commission on ex- commodity futures /kəmɒdti
commodity futures
port subsidies. fjutʃəz/ plural noun commodities trad-

commission agent /kəmʃ(ə)n ed for delivery at a later date 쑗 Silver rose
commission agent
ed$ənt/ noun an agent who is paid a 5% on the commodity futures market yes-
percentage of sales terday.
commissioner /kəmʃ(ə)nə/ noun an commodity market /kəmɒdti
commodity market
commissioner
|
|
important official appointed by a govern- mɑkt/ noun a place where people buy
ment or other authority, or a member of a and sell commodities
commission commodity trader / kəmɒdti
commodity trader
Commission of the European

Commission of the European Community
tredə/ noun a person whose business is

Community /kəmʃ(ə)n əv ði |
buying and selling commodities
jυərəpiən kəmjunti/ noun same as common /kɒmən/ adjective 1. hap-
common
European Commission pening frequently 쑗 Unrealistic salary

commission rep /kəmʃ(ə)n rep/ expectations in younger staff was a com-
commission rep
noun a representative who is not paid a mon problem they had to deal with. 쑗 Be-
salary but receives a commission on sales ing caught by the customs is very common
commission sale /kəmʃ(ə)n sel/
commission sale
|
these days. 2. belonging to several differ-
noun a sale where the salesperson is paid ent people or to everyone
Common Agricultural Policy
Common Agricultural Policy
a commission
commit /kəmt/ verb 1. to carry out a
commit
|
/kɒmən !rkltʃ(ə)rəl pɒlsi/ noun
|
crime 쑗 She was accused of committing an agreement between members of the

several thefts from the storeroom. 2. to EU to protect farmers in EU countries by
agree to do something (NOTE: commit- paying subsidies to fix the prices of farm
ting- committed) 왍 to commit funds to produce. Abbreviation CAP
common carrier /kɒmən kriə/
common carrier
a project to agree to spend money on a

project noun a firm which carries goods or pas-
commitments /kəmtmənts/ plural
commitments
sengers, and which anyone can use
common law /kɒmən lɔ/ noun 1. a
|
common law
noun things which you have agreed to do,

especially money which you have agreed law as laid down in decisions of courts,
to spend 왍 to meet your commitments to rather than by statute 2. a general system
pay money which you had agreed to pay of laws which formerly were the only
committee / kəmti/ noun an official
committee
|
laws existing in England, and which in
group of people who organise or plan for some cases have been superseded by stat-
a larger group 쑗 to be a member of a com- ute (NOTE: You say at common law
when referring to something happening
mittee or to sit on a committee 쑗 He was
according to the principles of common
elected to the committee of the staff club.
쑗 The new plans have to be approved by
law.)
common ownership /kɒmən
common ownership
the committee members. 쑗 She is the sec-

retary of the finance committee. 왍 to əυnəʃp/ noun a situation where a busi-
chair a committee to be the chairman of ness is owned by the employees who
a committee work in it
common pricing /kɒmən prasŋ/
common pricing
commodity /kəmɒdti/ noun some-

commodity
thing sold in very large quantities, espe- noun the illegal fixing of prices by several
cially a raw material such as a metal or a businesses so that they all charge the same
food such as wheat price
common seal /kɒmən sil/, compa-
common seal
COMMENT: Commodities are either trad-

ed for immediate delivery (as ‘actuals’ or ny’s seal /kmp(ə)niz sil/ noun a
‘physicals’), or for delivery in the future metal stamp for stamping documents with
(as ‘futures’). Commodity markets deal the name of the company to show that
either in metals (aluminium, copper,
lead, nickel, silver and zinc) or in ‘soft’ they have been approved officially 쑗 to
items, such as cocoa, coffee, sugar and attach the company’s seal to a document
oil. common stock /kɒmən stɒk/ noun
common stock
commodity exchange /kəmɒdti

commodity exchange
| US ordinary shares in a company, giving

kstʃend$/ noun a place where com-
| shareholders a right to vote at meetings
modities are bought and sold and to receive dividends
73 company flat
/kəmjunəυteə/ commuter train /kəmjutə tren/
communautaire commuter train
communautaire | |
adjective sympathetic to the European noun a train which commuters take in the
Union; (person) who works happily with morning and evening
EU officials Companies Act /kmp(ə)niz kt/
Companies Act
communicate /kəmjunket/ verb noun an Act of Parliament which regu-

communicate
to exchange views or information with lates the workings of companies, stating

someone 쑗 We need to find better ways of the legal limits within which companies
communicating with staff 쑗 In her presen- may do their business
tation she communicated her knowledge companies’ register /kmpəniz
companies’ register
of details and her enthusiasm for the red$stə/ noun a list of companies,
project well. showing their directors and registered ad-
communication
communication /kəmjun
| |
dresses
keʃ(ə)n/ noun 1. the passing on of
Companies Registration Office
Companies Registration Office

views or information 쑗 A house journal /kmp(ə)niz red$streʃ(ə)n ɒfs/
|
was started to improve communication noun an office of the Registrar of Compa-

between management and staff. 쑗 Cus- nies, the official organisation where the
tomers complained about the lack of com- records of companies must be deposited,
munication about the unexpected delay. 왍 so that they can be inspected by the pub-
to enter into communication with lic. Abbreviation CRO. Also called Com-
someone to start discussing something panies House
with someone, usually in writing 쑗 We company /kmp(ə)ni/ noun 1. a busi-
company
have entered into communication with the ness organisation, a group of people or-
relevant government department. 2. an ganised to buy, sell or provide a service,
official message 쑗 We have had a commu- usually for profit 왍 to put a company
nication from the local tax inspector. into liquidation to close a company by
communications
communications /kəmjun selling its assets for cash 왍 to set up a

company to start a company legally 2. 왍
| |
keʃ(ə)nz/ plural noun the fact of being

able to contact people or to pass messages a tractor, aircraft, chocolate company
쑗 After the flood all communications with company which makes tractors, aircraft
the outside world were broken. or chocolate
COMMENT: A company can be incorporat-
community /kəmjunti/ noun a
community
|
ed (with memorandum and articles of as-
group of people living or working in the sociation) as a private limited company,
same place and adds the initials ‘Ltd’ after its name,
or as a public limited company, when its
commute /kəmjut/ verb 1. to travel
commute
|
name must end in ‘Plc’. Unincorporated
to work from home each day 쑗 He com- companies are partnerships such as
mutes from the country to his office in the firms of solicitors, architects, account-
centre of town. 쑗 She spends two hours a ants, etc., and they add the initials ‘Co.’
day commuting to and from work. 쑗 We after their name.
company car /kmp(ə)ni kɑ/ noun
company car
have bought a house within commuting

distance of London. 2. to exchange one a car which belongs to a company and is
form of payment for another 쑗 I decided lent to an employee to use for business or
to commute part of my pension rights into other purposes
a lump sum payment. company director /kmp(ə)ni da
company director
‘Commuting is never business use. A trip rektə/ noun a person appointed by the
to work is personal and not deductible. shareholders to help run a company
And making a business phone call or hold- company doctor
company doctor /kmp(ə)ni

ing a business meeting in your car while dɒktə/ noun 1. a doctor who works for a
you drive will not change that fact’ company and looks after sick workers 쑗
[Nation’s Business] The staff are all sent to see the company
commuter /kəmjutə/ noun a person
commuter
| doctor once a year. 2. a specialist busi-

who commutes to work nessperson who rescues businesses which
commuter belt /kəmjutə belt/ noun
commuter belt
|
are in difficulties
company flat /kmp(ə)ni flt/ noun
company flat
an area of country where the commuters

live round a town a flat owned by a company and used by
company law 74
members of staff from time to time (NOTE: cost /kəmprətv
comparative cost
comparative |
The US term is company apartment.) kɒst/ noun same as comparative ad-

company law /kmp(ə)ni lɔ/ noun
company law
vantage
laws which refer to the way companies compare /kəmpeə/ verb to look at sev-
compare
work eral things to see how they differ 쑗 The fi-

officers /kmp(ə)ni
company officers
company nance director compared the figures for

ɒfsəz/ noun the main executives or di- the first and second quarters.
rectors of a company compare with phrasal verb to examine
company pension scheme
company pension scheme two things to see where they are the
/kmp(ə)ni penʃən skim/ noun same same and where they differ 쑗 How do
as occupational pension scheme 쑗 the sales this year compare with last
She decided to join the company’s pen- year’s? 쑗 Compared with the previous
sion scheme. month, last month was terrific.
comparison /kəmprs(ə)n/ noun
comparison
company promoter /kmp(ə)ni prə

company promoter
|
|
məυtə/ noun a person who organises the the act of comparing one thing with an-
setting up of a new company other 쑗 Sales are down in comparison
company report /kmp(ə)ni rpɔt/
company report
|
with last year. 왍 there is no comparison
noun a document that sets out in detail between overseas and home sales over-
what a company has done and how well it seas and home sales are so different they
has performed ( NOTE: Companies are le- cannot be compared
comparison-shop / kəmprs(ə)n
comparison-shop
gally required to write annual reports |
and financial reports and to submit them ʃɒp/ verb to compare prices and features
to the authorities in the country where of items for sale in different shops to find
they are registered, but they may also the best deal
produce other reports on specific sub- compassionate leave
compassionate leave /kəm |
jects, for example, on the environmental pʃ(ə)nət liv/ noun time off work
or social impact of a project they are un-
granted to an employee to deal with per-
dertaking.)
sonal or family problems
company secretary /kmp(ə)ni
company secretary
compensate /kɒmpənset/ verb to

compensate
sekrt(ə)ri/ noun a person who is re-

sponsible for a company’s legal and fi- give someone money to make up for a
nancial affairs loss or injury 쑗 In this case we will com-
company’s infrastructure pensate a manager for loss of commis-
company’s infrastructure sion. 쑗 The company will compensate the
/kmpəniz nfrəstrktʃə/ noun the
|
employee for the burns suffered in the ac-
way in which the company is organized cident. (NOTE: You compensate some-
company town /kmp(ə)ni taυn/
company town
one for something.)

noun a town in which most of the proper- compensation / kɒmpənseʃ(ə)n/
compensation
ty and shops are owned by a large compa- noun 1. 왍 compensation for damage
ny which employs most of the population payment for damage done 왍 compensa-
/kɒmp(ə)rəblti/
comparability
comparability | tion for loss of office payment to a direc-

noun the fact of being able to be com- tor who is asked to leave a company be-
pared fore their contract ends 왍 compensation
comparable /kɒmp(ə)rəb(ə)l/ adjec- for loss of earnings payment to someone
comparable
tive possible to compare 쑗 The two sets of who has stopped earning money or who is
figures are not comparable. 왍 which is not able to earn money 2. US a salary
the nearest company comparable to ‘…compensation can also be via the mag-
this one in size? which company is most istrates courts for relatively minor inju-
similar in size to this one? ries’ [Personnel Management]
advantage /kəm deal /kɒmpən
compensation deal
compensation
comparative advantage
comparative |
|
prətv ədvɑntd$/ noun the fact of

| seʃ(ə)n dil/ noun a deal where an ex-
being able to produce a good or service at porter is paid (at least in part) in goods
a lower cost than other producers. Also from the country to which he or she is ex-
called comparative cost porting
75 competitive tender
compensation package /kɒmpən
compensation package competition-oriented pricing
| competition-oriented pricing
seʃ(ə)n pkd$/ noun the salary, pen- /kɒmpətʃ(ə)n ɔrientd prasŋ/
|
sion and other benefits offered with a job noun the act of putting low prices on
‘…golden parachutes are liberal compen- goods so as to compete with other com-
sation packages given to executives leav- peting products
ing a company’ [Publishers Weekly] competitive /kəmpettv/ adjective
competitive
compete /kəmpit/ verb 왍 to compete

compete
|
1. involving competition 2. intended to
with someone or with a company to try compete with others, usually by being
to do better than another person or anoth- cheaper or better 왍 competitive price a
er company 쑗 We have to compete with low price aimed to compete with a rival
cheap imports from the Far East. 쑗 They product 왍 competitive product a product
were competing unsuccessfully with local made or priced to compete with existing
companies on their home territory. 왍 the products
two companies are competing for a ‘…the company blamed fiercely competi-
market share or for a contract each tive market conditions in Europe for a
company is trying to win a larger part of £14m operating loss last year’
the market, trying to win the contract [Financial Times]
competence /kɒmpt(ə)ns/ noun 1. advantage /kəm
competence
competitive advantage
competitive |
the ability to do the tasks required in a job pettv ədvɑntd$/ noun a factor that
|
쑗 The training sessions are intended to gives a special advantage to a nation,

increase staff competence. 2. 왍 the case company, group, or individual when it is
falls within the competence of the court competing with others
the court is legally able to deal with the competitive edge /kəmpettv
competitive edge
case ed$/, competitive advantage /kəm |
competence framework
competence framework
pettv ədvɑntd$/ noun an advan-

/kɒmpt(ə)ns fremw&k/ noun the set
|
tage that one company or product has

of duties or tasks performed as part of a over its rivals in the market 쑗 Any com-
job with the standards which should be petitive edge we have in this market is due
achieved in these duties to our good after-sales service. 쑗 Why
competency /kɒmpt(ə)nsi/ noun
competency
does this product have the competitive

same as competence edge over its rivals?
competent /kɒmpt(ə)nt/ adjective competitively /kəmpettvli/ adverb
competent competitively
1. able to do something, efficient 쑗 she is 왍 competitively priced sold at a low

a competent manager 2. able to do the price which competes with the price of
tasks required in a job 왍 the court is not similar products from other companies
competent to deal with this case the competitiveness /kəmpettvnəs/
competitiveness
court is not legally able to deal with the noun the fact of being competitive
case
‘…farmers are increasingly worried by the
competition /kɒmpətʃ(ə)n/ noun 1.
competition
|
growing lack of competitiveness for their
a situation where companies or individu- products on world markets’ [Australian
als are trying to do better than others, e.g. Financial Review]
trying to win a larger share of the market, competitiveness index
competitiveness index /kəm |
or to produce a better or cheaper product pettvnəs ndeks/ noun a list that uses
or to control the use of resources 2. 왍 the economic and other data to rank countries
competition companies which are trying in order according to the competitiveness
to compete with your product 쑗 We have of their industries and products
lowered our prices to beat the competi-
competitive pricing /kəmpettv
competitive pricing
tion. 쑗 The competition have brought out |
a new range of products. prasŋ/ noun the practice of putting low

‘…profit margins in the industries most prices on goods so as to compete with
exposed to foreign competition are worse other products
competitive tender /kəmpettv
competitive tender
than usual’ [Sunday Times] |
‘…competition is steadily increasing and tendə/ noun a form of tender where dif-
could affect profit margins as the company ferent organisations are asked to tender
tries to retain its market share’ for a contract, especially for government
[Citizen (Ottawa)] or local government work
competitor 76
competitor /kəmpettə/ noun a per- property and to exchange it with the other
competitor
son or company that is competing with party, so making it legal

another 쑗 Two German firms are our completely /kəmplitli/ adverb all or
completely
main competitors. totally 쑗 The cargo was completely ru-

‘…sterling labour costs continue to rise ined by water. 쑗 The warehouse was com-
between 3% and 5% a year faster than in pletely destroyed by fire.
most of our competitor countries’ [Sunday completion /kəmpliʃ(ə)n/ noun the
completion
Times] act of finishing something 왍 completion

complain /kəmplen/ verb to say that
complain
| of a contract the act of signing a contract

something is no good or does not work for the sale of a property whereby the
properly 쑗 The office is so cold the staff buyer pays and the seller transfers owner-
have started complaining. 쑗 She com- ship to the buyer
plained about the service. 쑗 They are completion date /kəmpliʃ(ə)n det/
completion date
complaining that our prices are too high. noun a date when something will be fin-
쑗 If you want to complain, write to the ished
manager.
complex /kɒmpleks/ noun a series of
complex
complaint /kəmplent/ noun a state-

complaint
|
large buildings 쑗 a large industrial com-
ment that you feel something is wrong 쑗 plex (NOTE: The plural is complexes.) 쐽
complaints from the workforce about con- adjective with many different parts 쑗 a
ditions in the factory 쑗 She sent her letter complex system of import controls 쑗 The
of complaint to the managing director. 왍 specifications for the machine are very
to make or to lodge a complaint against complex.
someone to write and send an official
compliance /kəmplaəns/ noun
compliance
complaint to someone’s superior |
agreement to do what is ordered

department /kəm
complaints department
complaints
compliance department /kəm
| compliance department
plents dpɑtmənt/ noun a depart- |
plaəns dpɑtmənt/ noun a depart-

|
ment in a company or store to which cus- |
tomers can send or bring complaints ment in a stockbroking firm which makes
about its products or service sure that the Stock Exchange rules are fol-
lowed and that confidentiality is main-
complaints management /kəm
complaints management
|
tained in cases where the same firm repre-
plents mnd$mənt/ noun the man- sents rival clients
agement of complaints from customers
complimentary /kɒmplment(ə)ri/
complimentary
/kəm
complaints procedure |
complaints procedure |
adjective free
plents prəsid$ə/ noun a way of pre-
complimentary ticket
| complimentary ticket
senting complaints formally from a trade

/kɒmplment(ə)ri tkt/ noun a free
union to a management 쑗 The trade union
has followed the correct complaints pro- ticket, given as a present
compliments slip /kɒmplmənts
compliments slip
cedure.
complementor /kɒmplmentə/ noun
complementor
slp/ noun a piece of paper with the name
a company that makes something that of the company printed on it, sent with
your product needs in order to function documents or gifts etc. instead of a letter
comply /kəmpla/ verb to agree to do
comply
successfully. For example, software com- |
panies are complementors to computer what is ordered (NOTE: complies – com-

companies. (NOTE: Software companies, plying – complied) 왍 to comply with a
for example, are complementors to com- court order to obey an order given by a
puter companies.) court
component /kəmpəυnənt/ noun a
component
complete /kəmplit/ adjective whole,

complete
|
|
with nothing missing 쑗 The order is com- piece of machinery or a part which will be
plete and ready for sending. 쑗 The ship- put into a final product 쑗 The assembly
ment will be delivered only if it is com- line stopped because the supply of a vital
plete. 쐽 verb 1. to finish 쑗 The factory component was delayed.
completed the order in two weeks. 쑗 How components factory /kəm
components factory
long will it take you to complete the job? pəυnənts fkt(ə)ri/ noun a factory
쑗 He has completed his probationary pe- which makes parts which are used in oth-
riod. 2. to sign a contract for the sale of a er factories to make finished products
77 computer network
composition /kɒmpəzʃ(ə)n/ noun
composition computational error
| computational error
an agreement between a debtor and cred- /kɒmpjυteʃ(ə)nəl erə/ noun a mistake
itors, where the debtor settles a debt by re- made in calculating
paying only part of it compute /kəmpjut/ verb to calculate,
compute
compound /kəmpaυnd/ verb to agree to do calculations

compound
with creditors to settle a debt by paying computer /kəmpjutə/ noun an elec-

computer
part of what is owed tronic machine which calculates or stores

compound interest /kɒmpaυnd information and processes it automatical-
compound interest
ntrəst/ noun interest which is added to ly

the capital and then earns interest itself bureau /kəmpjutə
computer bureau
computer |
comprehensive /kɒmprhensv/
comprehensive
|
bjυərəυ/ noun an office which offers to
adjective which includes everything do work on its computers for companies
comprehensive insurance which do not own their own computers
comprehensive insurance
computer department /kəmpjutə
computer department
/kɒmprhensv nʃυərəns/, compre- |
dpɑtmənt/ noun a department in a

|
hensive policy /kɒmprhensv pɒlsi/ |
noun an insurance policy which covers company which manages the company’s
you against all risks which are likely to computers
computer error /kəmpjutər erə/
computer error
happen |
compromise /kɒmprəmaz/ noun an

compromise
noun a mistake made by a computer
computer file /kəmpjutə fal/ noun
computer file
agreement between two sides, where each |
side gives way a little 쑗 Management of- a section of information on a computer,

fered £5 an hour, the union asked for £9, e.g. the payroll, list of addresses or list of
and a compromise of £7.50 was reached. customer accounts
쐽 verb to reach an agreement by giving computer hardware /kəmpjutə
computer hardware
way a little 쑗 She asked £15 for it, I of- hɑdweə/ noun machines used in data
fered £7 and we compromised on £10. processing, including the computers and
comptometer /kɒmptɒmtə/ noun a printers, but not the programs
comptometer
machine which counts automatically computerise /kəmpjutəraz/, com-

computerise
comptroller /kəntrəυlə/ noun a finan- puterize verb to change something from

comptroller
cial controller a manual system to one using computers

쑗 We have computerised all our records.
compulsory /kəmplsəri/ adjective
compulsory
쑗 Stock control is now completely compu-

|
which is forced or ordered terised.

liquidation /kəm
compulsory liquidation
compulsory |
computerised
computerised / kəmpjutərazd/,
plsəri lkwdeʃ(ə)n/ noun liquida-
|
|
computerized adjective carried out by
tion which is ordered by a court computers 쑗 a computerised invoicing or
compulsory purchase order /kəm
compulsory purchase order
| filing system
plsəri p&tʃs ɔdə/ noun an order computer language / kəmpjutə
computer language
from a local authority by which property lŋ!wd$/ noun a system of signs, let-
is purchased whether the owner wants to ters and words used to instruct a computer
sell or not (as when buying properties to
/kəmpjutə
computer listing
widen a road) computer listing |
lstŋ/ noun a printout of a list of items

compulsory winding up /kəm
compulsory winding up
|
taken from data stored in a computer
plsəri wandŋ p/ noun liquidation
computer magazine /kəmpjutə
computer magazine
which is ordered by a court

|
compulsory winding up order

m!əzin/ noun a magazine with arti-
|
compulsory winding up order cles on computers and programs

/kəmplsəri wandŋ p ɔdə/ noun
|
computer manager / kəmpjutə

computer manager
an order from a court saying that a com- mnd$ə/ noun a person in charge of a
pany must be wound up computer department
computable /kəmpjutəb(ə)l/ adjec-
computable
computer network /kəmpjutə

computer network
|
|
tive possible to calculate netw&k/ noun a computer system

/kɒmpjυteʃ(ə)n/
computation
computation | where several PCs are linked so that they

noun a calculation all draw on the same database
computer printer 78
printer /kəmpjutə concealment /kənsilmənt/ noun the
computer printer concealment
computer | |
prntə/ noun a machine which prints in- act of hiding for criminal purposes
formation from a computer concealment of assets /kən
concealment of assets
computer printout /kəmpjutə silmənt əv sets/ noun the act of hid-

computer printout
prntaυt/ noun a printed copy of infor- ing assets so that creditors do not know
mation from a computer 쑗 The sales di- they exist
rector asked for a printout of the agents’ concentration /kɒnsəntreʃ(ə)n/
concentration
commissions.
|
noun 1. the degree to which a small

computer program /kəmpjutə
computer program
|
number of businesses control a large sec-
prəυ!rm/ noun instructions to a com- tion of the market 쑗 Too much concentra-
puter telling it to do a particular piece of tion created resentment among small
work 쑗 to buy a graphics program 쑗 The businesses trying to enter the market. 쑗
accounts department is running a new Concentration has meant too little com-
payroll program. petition and therefore higher prices to the
/kəm consumer. 2. the action of grouping a
computer programmer
computer programmer |
pjutə prəυ!rmə/ noun a person who large number of things together. Also
writes computer programs called market concentration
computer programming /kəm concept /kɒnsept/ noun an idea
computer programming concept
pjutə prəυ!rmŋ/ noun the work of concept testing /kɒnsept testŋ/
concept testing
writing programs for computers noun the evaluation of a new product

/ kəmpjutə
computer-readable
computer-readable | idea, usually by consulting representa-

ridəb(ə)l/ adjective able to be read and tives from all the main departments in a
understood by a computer 쑗 computer- company, and/or by interviewing a sam-
readable codes ple of consumers 쑗 The new product idea
computer run /kəmpjutə rn/ noun did not survive concept testing because it
computer run
a period of work done by a computer didn’t answer an existing demand. 쑗 Af-

computer services /kəmpjutə
computer services
ter thorough concept testing the idea of a
disposable pen was rejected as the com-
|
s&vsz/ plural noun work using a com-

puter, done by a computer bureau pany’s production capacity was too limit-
ed.
system /kəmpjutə
computer system
computer
concern /kəns&n/ noun 1. a business
| concern
sstəm/ noun a set of programs, com- |
mands, etc., which run a computer or company 2. the fact of being worried
about a problem 쑗 The management
computer tape /kəmpjutə tep/
computer tape
|
showed no concern at all for the workers’
noun magnetic tape used in computers safety. 쐽 verb to deal with or be connect-
computer terminal /kəmpjutə
computer terminal
| ed with 쑗 The sales staff are not con-

t&mn(ə)l/ noun a keyboard and screen, cerned with the cleaning of the store. 쑗
by which information can be put into a She filled in a questionnaire concerning
computer or can be called up from a data- computer utilisation.
base 쑗 computer system consisting of a concert /kɒnsət/ noun 왍 to act in con-
concert
microprocessor and six terminals cert (of several people) to work together
computer time /kəmpjutə tam/
computer time
|
to achieve an aim
noun the time when a computer is being
concert party /kɒnsət pɑti/ noun
concert party
used, paid for at an hourly rate

an arrangement where several people or
computer worm /kəmpjutə w&m/
computer worm
|
companies work together in secret, usual-
noun a type of computer (virus) that does ly to acquire another company through a
damage by making as many copies of it- takeover bid
self as it can as quickly in order clog up
concession /kənseʃ(ə)n/ noun 1. the
concession
communication channels on the Internet |
right to use someone else’s property for

computing /kəmpjutŋ/ noun the
computing
|
business purposes 2. the right to be the
operating of computers only seller of a product in a place 쑗 She
computing speed /kəmpjutŋ
computing speed
| runs a jewellery concession in a depart-

spid/ noun the speed at which a compu- ment store. 3. an allowance, e.g. a reduc-
ter calculates tion of tax or price
79 conference call
concessionaire /kənseʃəneə/ noun of contract /kən
concessionaire conditions of contract
| | conditions |
a person or business that has the right to dʃ(ə)nz əv kɒntrkt/ noun the condi-
be the only seller of a product in a place tions which are listed in a contract and
concessionary /kənseʃ(ə)nəri/ ad-
concessionary
|
which are legally binding
conditions of employment /kən
conditions of employment
jective which is allowed as a concession |
concessionary fare /kənseʃ(ə)nəri

concessionary fare
|
dʃ(ə)nz əv mplɔmənt/ plural noun |
feə/ noun a reduced fare for some types the terms of a contract of employment
conditions of sale /kəndʃ(ə)nz əv
conditions of sale
of passenger such as pensioners, students |
or employees of a transport company sel/ plural noun agreed ways in which a

concessionary ticket
concessionary ticket /kən |

sale takes place, e.g. discounts or credit
seʃ(ə)nəri tkt/ noun a cheaper en- terms
/ kɒndəmniəm/
condominium
trance ticket to an exhibition for pension- condominium |
ers, students, etc. noun US a system of ownership, where a

conciliation /kənslieʃ(ə)n/ noun
conciliation
| |
person owns an apartment in a building,
the practice of bringing together the par- together with a share of the land, stairs,
ties in a dispute with an independent third roof, etc.
conduct /kəndkt/ verb to carry on 쑗
conduct
party, so that the dispute can be settled |
through a series of negotiations to conduct negotiations 쑗 The chairman

conclude /kənklud / verb 1. to com-
conclude
|
conducted the negotiations very negli-
plete successfully 쑗 to conclude an gently. 쑗 She conducted the training ses-
agreement with someone 2. to believe sion very efficiently. 쐽 noun a way of be-
from evidence 쑗 The police concluded having 쑗 He was sacked for bad conduct
that the thief had got into the building at the staff Christmas party.
conducted tour /kəndktd tυə/
conducted tour
through the main entrance. |
condition /kəndʃ(ə)n/ noun 1. some-

condition
|
noun a tour with a guide who shows plac-
thing which has to be carried out as part of es to the tourists
Confederation of British Industry
a contract or which has to be agreed be- Confederation of British Industry

fore a contract becomes valid 왍 on condi- /kənfedəreʃ(ə)n əv brtʃ ndəstri/
| |
tion that provided that 쑗 They were noun an organisation which represents
granted the lease on condition that they British employers in commerce and in-
paid the legal costs. 2. a general state or dustry. Abbreviation CBI
the general way of life in a place 쑗 item confer /kənf&/ verb to discuss a prob-
confer
sold in good condition 쑗 The union has lem with another person or within a group
complained of the bad working condi- 쑗 The interview board conferred in the
tions in the factory. 쑗 What was the con- next room before announcing the names
dition of the car when it was sold? 쑗 Ad- of the successful candidates. (NOTE: con-
verse trading conditions affected our ferring – conferred)
profits.
conference /kɒnf(ə)rəns/ noun 1. a
conference
conditional /kəndʃ(ə)n(ə)l/ adjec-

conditional
|
meeting of people to discuss problems 쑗
tive provided that specific conditions are Many useful tips can be picked up at a
taken into account 왍 to give a condition- sales conference. 쑗 The conference of HR
al acceptance to accept, provided that managers included talks on payment and
specific things happen or that specific recruitment policies. 왍 to be in confer-
terms apply 왍 conditional on subject to ence to be in a meeting 2. a meeting of an
(certain conditions) 왍 the offer is condi- organisation such as an association, soci-
tional on the board’s acceptance the of- ety or union
fer is only valid provided the board ac-
conference call /kɒnf(ə)rəns kɔl/
conference call
cepts
noun a telephone call that connects three
conditional offer /kəndʃ(ə)nəl
conditional offer
|
or more lines so that people in different
ɒfə/ noun an offer to buy provided that places can talk to one another (NOTE:
specific terms apply Conference calls reduce the cost of
conditional sale /kəndʃ(ə)nəl sel/
conditional sale
| meetings by making it unnecessary for

noun a sale which is subject to condi- the participants to spend time and mon-
tions, such as a hire- purchase agreement ey on getting together in one place.)
conference phone 80
conference phone /kɒnf(ə)rəns conflict /kɒnflkt/ noun antagonism
conference phone conflict
fəυn/ noun a telephone arranged in such between people, e.g. between manage-
a way that several people can speak into it ment and workers 쑗 There was conflict
from around a table between the two groups of workers.
conference proceedings conflict management /kɒnflkt
conference proceedings
conflict management
/kɒnf(ə)rəns prəsidŋz/ plural noun a

|
mnd$mənt/ noun a system of work
written report of what has taken place at a that involves identifying possible sources
conference of conflict within an organisation and
conference room /kɒnf(ə)rəns
conference room
dealing with and settling conflicts when

rum/ noun a room where a small meet- they occur
ing can take place conflict of interest /kɒnflkt əv
conflict of interest
conference timetable /kɒnf(ə)rəns ntrəst/ noun a situation where a person

conference timetable
tamteb(ə)l/ noun a list of events and

|
or firm may profit personally from deci-
speakers at a conference sions taken in an official capacity
confidence /kɒnfd(ə)ns/ noun 1. the
confidence
conformance /kənfɔməns/ noun the

conformance
state of feeling sure or being certain 쑗 process of acting in accordance with a

The sales teams do not have much confi- rule 쑗 The machine used is not in con-
dence in their manager. 쑗 The board has formance with safety regulations.
total confidence in the managing director.
confuse /kənfjuz/ verb to make it dif-
confuse
2. 왍 in confidence in secret 쑗 I will show |
you the report in confidence. ficult for someone to understand some-

thing, to make something difficult to un-
confident /kɒnfd(ə)nt/ adjective cer-
confident
derstand 쑗 to introduce the problem of

tain or sure 쑗 I am confident the turnover VAT will only confuse the issue 쑗 The
will increase rapidly. 쑗 Are you confident chairman was confused by all the jour-
the sales team can handle this product? nalists’ questions.
confidential /kɒnfdenʃəl/ adjective
confidential
conglomerate /kən!lɒmərət/ noun a

conglomerate
|
not to be told or shown to other people 쑗

|
group of subsidiary companies linked to-

The references sent by the applicant’s last
employer were in an envelope marked gether and forming a group, each making
very different types of products
‘Private and Confidential’. 쑗 Whatever
conglomerate diversification / kən
conglomerate diversification
an employee says in an appraisal inter- |
view should be treated as confidential. 쑗 !lɒmərət dav&sfkeʃ(ə)n/ noun a

| |
The consultants sent a confidential report form of (diversification) in which a com-

to the chairman. pany sets up subsidiary companies with
confidentiality /kɒnfdenʃilti/
confidentiality
|
activities in many different areas of busi-
noun the fact of being secret 왍 she broke ness
conjoint analysis /kənd$ɔnt ə
conjoint analysis
the confidentiality of the discussions | |
she told someone about the secret discus- nləss/ noun a research method aimed
sions at discovering the best combination of
confidential report /kɒnfdenʃəl r features for a product or service, e.g. price
confidential report
pɔt/ noun a secret document which and size

connect /kənekt/ verb 1. to link or to
connect
must not be shown to other people |
confirm /kənf&m/ verb to say again join 쑗 The company is connected to the
confirm
that something agreed before is correct 쑗 government because the chairman’s fa-
to confirm a hotel reservation or a ticket ther is a minister. 2. 왍 the flight from
or an agreement or a booking 왍 to con- New York connects with a flight to Ath-
firm someone in a job to say that some- ens the plane from New York arrives in
one is now permanently in the job time for passengers to catch the plane to
confirmation /kɒnfəmeʃ(ə)n/ noun
confirmation
|
Athens
1. the act of making certain 왍 confirma- connecting flight /kənektŋ flat/
connecting flight
tion of a booking the act of checking that noun a plane which a passenger will be
a booking is certain 2. a document which on time to catch and which will take him
confirms something 쑗 She received con- to his final destination 쑗 Check at the hel-
firmation from the bank that the deeds icopter desk for connecting flights to the
had been deposited. city centre.
81 consolidate
connection /kənekʃən/ noun a link, conservatively /kəns&vətvli/ ad-
connection conservatively
| |
something which joins 쑗 Is there a con- verb not overestimating 쑗 The total sales
nection between his argument with the di- are conservatively estimated at £2.3m.
rector and his sudden move to become consider / kənsdə/ verb to think seri-
consider
warehouse manager? 왍 in connection

|
ously about something 왍 to consider the

with referring to 쑗 I want to speak to the terms of a contract to examine a contract
managing director in connection with the and discuss whether the terms are accept-
sales forecasts. able
connections /kənekʃ(ə)nz/ noun considerable /kənsd(ə)rəb(ə)l/ ad-
connections
considerable
|
|
people you know, customers or contacts 쑗 jective quite large 쑗 We sell considerable
He has useful connections in industry. quantities of our products to Africa. 쑗
connectivity /kɒnektvti/ noun 1.
connectivity
| They lost a considerable amount of money

the ability of an electronic product to con- on the commodity market.
nect with other similar products, or the considerably /kənsd(ə)rəbli/ ad-
considerably
extent to which individuals, companies verb quite a lot 쑗 Sales are considerably
and countries can connect with one anoth- higher than they were last year.
er electronically 2. the ability of individu- consideration
consideration
/kənsdəreʃ(ə)n/ | |
als, organisations and countries to con- noun 1. serious thought 쑗 We are giving
nect with each other and communicate consideration to moving the head office to
electronically Scotland. 2. something valuable ex-
connexity /kəneksti/ noun the fact of
connexity
|
changed as part of a contract
being closely linked by worldwide com- consign /kənsan/ verb 왍 to consign
consign
munications networks goods to someone to send goods to some-

conscientious /kɒnʃienʃəs/ adjec-
conscientious
|
one for them to use or to sell for you
tive referring to a person who works care- consignation
consignation
/kɒnsaneʃ(ə)n/ |
fully and well 쑗 She’s a very conscien- noun the act of consigning
tious worker.
consignee /kɒnsani/ noun a person
consignee
consensus /kənsensəs/ noun an

consensus |
|
who receives goods from someone for
opinion which most people agree on 쑗 their own use or to sell for the sender
management by consensus consignment /kənsanmənt/ noun
consignment
consent /kənsent/ noun agreement

consent |
|
1. the sending of goods to someone who
that something should be done 쑗 Change will sell them for you 왍 goods on con-
of use requires the consent of the local signment goods kept for another compa-
planning authorities. 쐽 verb to agree that ny to be sold on their behalf for a commis-
something should be done 쑗 The manage- sion 2. a group of goods sent for sale 쑗 A
ment consented to the union’s proposals. consignment of goods has arrived. 쑗 We
consequential loss /kɒnskwenʃəl
consequential loss
are expecting a consignment of cars from

lɒs/ noun loss which occurs as the result Japan.
of some other loss. Also called indirect ‘…some of the most prominent stores are
loss gradually moving away from the tradition-
conservative /kəns&vətv/ adjec-
conservative
| al consignment system, under which man-

tive careful, not overestimating 쑗 His ufacturers agree to repurchase any unsold
forecast of expenditure was very conserv- goods, and in return dictate prices and
ative or She made a conservative forecast sales strategies and even dispatch staff to
of expenditure. 왍 a conservative esti- sell the products’ [Nikkei Weekly]
consignment note /kənsanmənt
consignment note
mate a calculation which probably under- |
estimates the final figure 쑗 Their turnover nəυt/ noun a note saying that goods have
has risen by at least 20% in the last year, been sent
and that is probably a conservative esti- consignor /kənsanə/ noun a person
consignor
mate. who consigns goods to someone

‘…we are calculating our next budget in- COMMENT: The goods remain the proper-
come at an oil price of $15 per barrel. We ty of the consignor until the consignee
know it is a conservative projection, but sells or pays for them.
consolidate /kənsɒldet/ verb 1. to
consolidate
we do not want to come in for a shock |
should prices dive at any time during the include the accounts of several subsidiary
year’ [Lloyd’s List] companies as well as the holding compa-
consolidated accounts 82
ny in a single set of accounts 2. to group struction being built 쑗 the airport is un-
goods together for shipping der construction
consolidated accounts /kən /kən
consolidated accounts construction company
|
construction company |
sɒldetd əkaυnts/ plural noun ac-

|
strkʃ(ə)n kmp(ə)ni/ noun company
counts where the financial position of which specializes in building
several different companies, i.e. a holding construction industry
construction industry /kən |
company and its subsidiaries, are record- strkʃ(ə)n ndəstri/ noun all compa-
ed together nies specializing in building
consolidated shipment /kən
consolidated shipment
constructive /kənstrktv/ adjective

constructive
|
sɒldetd ʃpmənt/ noun goods from |
different companies grouped together which helps in the making of something 쑗

into a single shipment She made some constructive suggestions
for improving management-worker rela-
consolidation /kənsɒldeʃ(ə)n/
consolidation
| |
tions. 쑗 We had a constructive proposal
noun the grouping together of goods for from a distribution company in Italy.
shipping
/kən
constructive dismissal
constructive dismissal
consolidator /kənsɒldetə/ noun 1.
consolidator |
strktv dsms(ə)l/ noun a situation

|
a firm which groups together orders from where an employee does not leave his or
different companies into one shipment 2. her job voluntarily, but because of pres-
a firm which groups together bookings sure from the management
made by various travel agents so as to get
constructor /kənstrktə/ noun a per-
constructor
cheaper group fares on normal scheduled |
flights son or company which constructs

consols /kɒnsɒlz/ plural noun govern- consult /kənslt/ verb to ask an expert
consult
consols
ment bonds which pay interest but do not for advice 쑗 We consulted our accountant
have a maturity date about our tax.
consortium /kənsɔtiəm/ noun a consultancy /kənsltənsi/ noun the
consortium consultancy
| |
group of companies which work together act of giving specialist advice 쑗 a consul-
쑗 A consortium of Canadian companies tancy firm 쑗 She offers a consultancy
or A Canadian consortium has tendered service.
for the job. (NOTE: The plural is consor- consultant /kənsltənt/ noun a spe-
consultant
tia.) cialist who gives advice 쑗 an engineering

‘…the consortium was one of only four consultant 쑗 a management consultant 쑗
bidders for the £2 billion contract to run a tax consultant
the lines, seen as potentially the most dif-
consulting /kənsltŋ/ adjective giv-
consulting
ficult contract because of the need for |
huge investment’ [Times] ing specialist advice 쑗 a consulting engi-

constant /kɒnstənt/ adjective un-
constant
neer
consulting engineer /kənsltŋ
consulting engineer
changing 쑗 The calculations are in con- |
stant dollars. end$nə/ noun an engineer who gives

|
constitution /kɒnsttjuʃ(ə)n/ noun

constitution
|
specialist advice
/kən
consumable goods
written rules or regulations of a society, consumable goods |
association, club or state 쑗 Under the so- sjuməb(ə)l !υdz/ plural noun goods
ciety’s constitution, the chairman is elect- which are bought by members of the pub-
ed for a two-year period. 쑗 Payments to lic and not by companies. Also called
officers of the association are not allowed consumer goods, consumables
by the constitution. consumables
consumables /kənsjuməb(ə)lz/ |
constitutional /kɒnsttjuʃ(ə)nəl/
constitutional
| plural noun 1. items that have to be

adjective according to a constitution 쑗 bought on a regular basis because they are
The reelection of the chairman is not con- used up, e.g. paper 2. same as consuma-
stitutional. ble goods
construct /kənstrkt/ verb to build 쑗 consumer /kənsjumə/ noun a person
construct
consumer
|
|
The company has tendered for the con- or company that buys and uses goods and
tract to construct the new bridge. services 쑗 Gas consumers are protesting
construction /kənstrkʃən/ noun at the increase in prices. 쑗 The factory is
construction
the activity of building 왍 under con- a heavy consumer of water.

83 contain
‘…forecasting consumer response is one consumer protection /kənsjumə
consumer protection
problem which will never be finally prətekʃən/ noun the activity of protect-
|
solved’ [Marketing Week] ing consumers against unfair or illegal

‘…consumer tastes in the UK are becom- traders
ing much more varied’ [Marketing]
consumer research /kənsjumə r
consumer research
| |
‘…the marketing director’s brief will be to s&tʃ/ noun research into why consum-
develop the holiday villages as a consumer
brand, aimed at the upper end of the tourist ers buy goods and what goods they may
market’ [Marketing Week] want to buy
consumer resistance /kənsjumə
consumer resistance
consumer council /kənsjumə

consumer council
|
rzstəns/ noun a lack of interest by con-

|
kaυns(ə)l/ noun a group representing |
the interests of consumers sumers in buying a new product 쑗 The

consumer credit
consumer credit /kənsjumə

new product met no consumer resistance
even though the price was high.
|
kredt/ noun the credit given by shops,

consumer society /kənsjumə sə
consumer society
banks and other financial institutions to | |
consumers so that they can buy goods saəti/ noun a type of society where con-
(NOTE: Lenders have to be licensed un- sumers are encouraged to buy goods
der the Consumer Credit Act, 1974. The consumer spending / kənsjumə
consumer spending
US term is installment credit.) spendŋ/ noun spending by private

Consumer Credit Act, 1974 / kən households on goods and services
Consumer Credit Act, 1974
sjumə kredt kt/ noun an Act of ‘…companies selling in the UK market are
Parliament which licenses lenders, and worried about reduced consumer spending
requires them to state clearly the full as a consequence of higher interest rates
terms of loans which they make, includ- and inflation’ [Business]
ing the APR consumer-to-consumer commerce
consumer-to-consumer com-
merce /kənsjumə tə kənsjumə
Consumer Credit Counselling Service
Consumer Credit Counselling | |
Service /kənsjumə kredt | kɒm&s/ noun business, especially e-

kaυnsəlŋ s&vs/ noun a service which business, done by one individual with an-
advises people about problems with items other and not involving any business or-
bought on credit ganisation
consumer durables /kənsjumə consumption /kənsmpʃən/ noun
consumer durables consumption
| |
djυərəb(ə)lz/ plural noun items which the act of buying or using goods or serv-
are bought and used by the public, e.g. ices 쑗 a car with low petrol consumption
washing machines, refrigerators or cook- 쑗 The factory has a heavy consumption of
ers coal.
goods /kənsjumə
consumer goods
consumer |
contact /kɒntkt/ noun 1. a person
contact
!υdz/ plural noun same as consumable you know or a person you can ask for help
goods or advice 쑗 He has many contacts in the
/kənsjumə city. 쑗 Who is your contact in the minis-
consumer panel
consumer panel |
pn(ə)l/ noun a group of consumers try? 2. the act of getting in touch with
who report on products they have used so someone 왍 I have lost contact with them
that the manufacturers can improve them I do not communicate with them any
or use what the panel says about them in longer 왍 he put me in contact with a
advertising good lawyer he told me how to get in
Consumer Price Index /kənsjumə
Consumer Price Index
touch with a good lawyer 쐽 verb
/kɒntkt, kəntkt/ to get in touch
|
pras ndeks/ noun an American index |
showing how prices of consumer goods with someone, to communicate with

have risen over a period of time, used as a someone 쑗 He tried to contact his office
way of measuring inflation and the cost of by phone. 쑗 Can you contact the manag-
living. Abbreviation CPI (NOTE: The UK ing director at his club?
contain /kənten/ verb to hold some-
contain
term is retail prices index.) |
‘…analysis of the consumer price index thing inside 쑗 a barrel contains 250 litres
for the first half of the year shows that the 쑗 Each crate contains two computers and
rate of inflation went down by about 12.9 their peripherals. 쑗 We have lost a file
per cent’ [Business Times (Lagos)] containing important documents.
container 84
container /kəntenə / noun 1. a box, context /kɒntekst/ noun additional in-
container context
bottle, can, etc. which can hold goods 쑗 formation about a product that is consid-
The gas is shipped in strong metal con- ered to be helpful to customers and is
tainers. 쑗 The container burst during shown on a website. For example, reviews
shipping. 2. a very large metal case of a by other customers displayed on the site
standard size for loading and transporting for a particular book.
goods on trucks, trains, and ships 쑗 con- contingency /kəntnd$ənsi/ noun a
contingency
tainer berth 쑗 container port 쑗 container possible state of emergency when deci-
terminal 쑗 to ship goods in containers 왍 sions will have to be taken quickly 왍 to
a container-load of spare parts a ship- add on 10% to provide for contingen-
ment of spare parts sent in a container cies to provide for further expenditure
containerisation /kəntenəra
containerisation
| | which may be incurred

zeʃ(ə)n/, containerization noun the contingency fund /kəntnd$ənsi
contingency fund
act of shipping goods in containers fnd/ noun money set aside in case it is
containerise /kəntenəraz/, con-
containerise
|
needed urgently
tainerize verb to put or ship goods in contingency plan /kəntnd$ənsi
contingency plan
containers pln/ noun a plan which will be put into

container ship /kəntenə ʃp/ noun a
container ship
|
action if something unexpected happens
ship made specially to carry containers contingency
contingency reserve
reserve /kən |
container terminal /kəntenə

container terminal
|
tnd$ənsi rz&v/ noun money set aside
t&mn(ə)l/ noun an area of a harbour
|
in case it is needed urgently

where container ships are loaded or un- contingent expenses
contingent expenses /kən

loaded
|
tnd$ənt kspensz/ plural noun ex-

contango /kəntŋ!əυ/ noun 1. the
|
contango
|
penses which will be incurred only if
payment of interest by a stockbroker for something happens
permission to carry payment for shares contingent liability /kəntnd$ənt
contingent liability
from one account to the next (NOTE: Con-

|
tango is no longer applied on the Lon-

laəblti/ noun a liability which may or
|
don Stock Exchange because of the roll-

may not occur, but for which provision is
ing account system, but it is still applied
made in a company’s accounts, as op-
on some other exchanges.) 2. a cash
posed to ‘provisions’, where money is set
price which is lower than the forward aside for an anticipated expenditure
contingent policy /kəntnd$ənt
contingent policy
price |
contango day /kəntŋ!əυ de/

contango day
|
pɒlsi/ noun an insurance policy which
noun formerly, the day when the rate of pays out only if something happens, such
contango payments was fixed as if a person named in the policy dies be-
fore the person due to benefit
contempt of court /kəntempt əv
contempt of court
continual /kəntnjuəl/ adjective

| continual
kɔt/ noun an act of being rude to a |
court, e.g. bad behaviour in court or a re- which happens again and again 쑗 Produc-
fusal to carry out a court order tion was slow because of continual break-
downs.
content /kɒntent/ noun the ideas in-
content
continually /kəntnjuəli/ adverb

continually
side a letter, etc. 왍 the content of the let- |
ter the real meaning of the letter again and again 쑗 The photocopier is con-
tinually breaking down.
contents /kɒntents/ plural noun
contents
continuation /kəntnjueʃ(ə)n/
continuation
things contained by something, what is | |
inside something 쑗 The contents of the noun the act of continuing

continuation sheet /kəntnjυ
continuation sheet
bottle poured out onto the floor. 쑗 Cus- | |
toms officials inspected the contents of the eʃ(ə)n ʃit/ noun the second (or third)
crate. 왍 the contents of the letter the page of a document
words written in the letter continue /kəntnju/ verb to go on do-
continue
contested takeover /kəntestd

contested takeover
| ing something or to do again something

tekəυvə/ noun a takeover bid where the which you were doing earlier 쑗 The meet-
board of the target company does not rec- ing started at 10 a.m. and continued until
ommend it to the shareholders and tries to 6 p.m. 쑗 Negotiations will continue next
fight it. Also called hostile bid Monday.
85 contracting out
continuous /kəntnjυəs/ adjective should be done by another company on a
continuous
with no end or with no breaks 쑗 a contin- contract, rather than by employing mem-
uous production line bers of staff to do it 왍 to award a con-
continuous feed /kəntnjuəs fid/
continuous feed
|
tract to a company, to place a contract
noun a device which feeds continuous with a company to decide that a compa-
stationery into a printer ny shall have the contract to do work for
you 왍 to tender for a contract to put for-
continuous improvement /kən
continuous improvement
|
ward an estimate of cost for work under
tnjuəs mpruvmənt/ noun a proce-
|
contract 쐽 verb /kəntrkt/ to agree to
|
dure and management philosophy that fo- do some work on the basis of a legally
cuses on looking all the time for ways in binding contract 쑗 to contract to supply
which small improvements can be made spare parts or to contract for the supply of
to processes and products, with the aim of spare parts 왍 the supply of spare parts
increasing quality and reducing waste and was contracted out to Smith Ltd Smith
cost (NOTE: Continuous improvement is Ltd was given the contract for supplying
one of the tools that underpin the philos- spare parts 왍 to contract out of an agree-
ophies of total quality management and ment to withdraw from an agreement
lean production; in Japan it is known as with the written permission of the other
kaizen.) party
continuous service /kəntnjuəs
continuous service
| COMMENT: A contract is an agreement

s&vs/ noun a period of employment between two or more parties which cre-
with one employer, which begins on the ates legal obligations between them.
day on which the employee starts work Some contracts are made ‘under seal’,
i.e. they are signed and sealed by the
and ends on the day which they resign or parties; most contracts are made orally
are dismissed or in writing. The essential elements of a
continuous stationery /kəntnjυəs contract are: (a) that an offer made by
continuous stationery
steʃ(ə)n(ə)ri/ noun paper made as one one party should be accepted by the oth-
er; (b) consideration (i.e. payment of
long sheet used in computer printers money); (c) the intention to create legal
contra /kɒntrə/ verb 왍 to contra an
contra
relations. The terms of a contract may be

entry to enter a similar amount in the op- express or implied. A breach of contract
posite side of an account by one party entitles the other party to
sue for damages or to ask for something
contra account /kɒntrə əkaυnt/
contra account
|
to be done.
noun an account which offsets another contract out phrasal verb to hire an-
account, e.g. where a company’s supplier other organisation or person to carry out
is not only a creditor in that company’s part or all of a certain piece of work 쑗
books but also a debtor because it has pur- The catering firm has contracted out the
chased goods on credit distribution of its products to a delivery
contraband /kɒntrəbnd/ noun firm. 쑗 We shall contract out any work
contraband
goods brought into a country illegally, we are not specialised in. 쑗 The supply
without paying customs duty of spare parts was contracted out to
contract noun /kɒntrkt/ 1. a legal
contract
Smith Ltd.
contract distribution /kəntrkt
contract distribution
agreement between two parties 쑗 to draw |
up a contract 쑗 to draft a contract 쑗 to dstrbjuʃ(ə)n/ noun the practice of

|
sign a contract 왍 the contract is binding outsourcing a company’s distribution ac-

on both parties both parties signing the tivities to another company contract
contract must do what is agreed 왍 under (NOTE: Contract distribution can help to
contract bound by the terms of a contract reduce costs and stockholdings and im-
쑗 The firm is under contract to deliver the prove flexibility of delivery.)
goods by November. 왍 to void a contract contracting out /kɒntrktŋ aυt/
contracting out
to make a contract invalid 2. 왍 by private noun 1. the process, on the part of an em-
contract by private legal agreement 3. an ployee, of withdrawing from the UK State
agreement for the supply of a service or Earnings-Related Pension Scheme and
goods 쑗 to enter into a contract to supply buying an appropriate personal pension 2.
spare parts 쑗 to sign a contract for the process, on the part of an employer, of
£10,000 worth of spare parts 왍 to put withdrawing employees from the UK’s
work out to contract to decide that work State Earnings-Related Pension Scheme
contracting party 86
and enrolling them in an occupational contrarian /kɒntreəriən/ adjective
contrarian
pension scheme that meets specified going against a trend

standards contrary /kɒntrəri/ noun the opposite
contrary
contracting party /kəntrktŋ 왍 failing instructions to the contrary

contracting party
pɑti/ noun a person or company that unless different instructions are given 왍
signs a contract on the contrary quite the opposite 쑗 The
contract law /kɒntrkt lɔ/ noun chairman was not annoyed with his as-
contract law
laws relating to private agreements sistant – on the contrary, he promoted

contract note /kɒntrkt nəυt/ noun
contract note
him.
contribute /kəntrbjut/ verb to give
contribute
a note showing that shares have been |
bought or sold but not yet paid for, also money or add to money 쑗 We agreed to
including the commission contribute 10% of the profits. 쑗 They had
contract of employment
contract of employment contributed to the pension fund for 10

/kɒntrkt əv mplɔmənt/ noun a |
years.
contributed content website /kən
contributed content website
contract between an employer and an em- |
ployee stating all the conditions of work. trbjutd kɒntent websat/ noun a
Also called employment contract website that allows visitors to add their
contract of service /kɒntrkt əv
contract of service
contributions to its content, e.g., to write
s&vs/ noun a legal agreement between reviews of books that are advertised on
an employer and an employee whereby the site
contribution /kɒntrbjuʃ(ə)n/ noun
contribution
the employee will work for the employer |
and be directed by them, in return for pay- money paid to add to a sum
ment contribution analysis /kɒntr
contribution analysis
contractor /kəntrktə/ noun a per-

contractor
|
bjuʃ(ə)n ənləss/ noun an analysis
|
son or company that does work according of how much each of a company’s prod-
to a written agreement ucts contributes to fixed costs, based on
contractual /kəntrktʃυəl/ adjective
contractual
|
its profit margin and sales 쑗 Contribution
according to a contract 쑗 contractual analysis helps to streamline production
conditions 왍 to fulfil your contractual and marketing. 쑗 Thorough contribution
obligations to do what you have agreed to analysis led to six products being dropped
do in a contract from the product range.
contribution margin /kɒntr
contribution margin
contractual liability /kəntrktʃuəl

contractual liability
|
bjuʃ(ə)n mɑd$n/ noun a way of

|
laəblti/ noun a legal responsibility

|
for something as stated in a contract showing how much individual products or

services contribute to net profit
contractually /kəntrktjuəli/ ad-
contractually
contribution of capital /kɒntr

| contribution of capital
verb according to a contract 쑗 The com- |
pany is contractually bound to pay our bjuʃ(ə)n əv kpt(ə)l/ noun money

expenses. paid to a company as additional capital
contribution pricing /kɒntr
contribution pricing
contractual obligation /kən

contractual obligation
|
bjuʃ(ə)n prasŋ/ noun a pricing

|
trktʃuəl ɒbl!eʃ(ə)n/ noun some-

method based on maximising the contri-
|
thing that a person is legally forced to do

through having signed a contract to do 왍 bution of each product to fixed costs
contributor /kəntrbjυtə/ noun a per-
contributor
to fulfil your contractual obligations to |
do what you have agreed to do in a con- son who gives money

tract 왍 he is under no contractual obli- capital /kən
contributor of capital
contributor of |
gation to buy he has signed no agreement trbjυtər əv kpt(ə)l/ noun a person

to buy who contributes capital
contract work /kɒntrkt w&k/ contributory /kəntrbjυt(ə)ri/ adjec-
contract work contributory
noun work done according to a written tive causing or helping to cause 쑗 Falling
agreement exchange rates have been a contributory
contra entry /kɒntrə entri/ noun an factor in the company’s loss of profits.
contra entry
contributory negligence /kən

contributory negligence
entry made in the opposite side of an ac- |
count to make an earlier entry worthless, trbjυt(ə)ri ne!ld$əns/ noun negli-

i.e. a debit against a credit gence partly caused by the plaintiff and
87 convertible currency
partly by the defendant, resulting in harm check that a computer system is working
done to the plaintiff correctly
contributory pension plan /kən convene /kənvin/ verb to ask people
contributory pension plan convene
| |
trbjυt(ə)ri penʃən pln/, contribu- to come together 쑗 to convene a meeting

tory pension scheme /kəntrbjυt(ə)ri | of shareholders 쑗 to convene a meeting of
penʃən skim/ noun a pension plan union members
where the employee has to contribute a convenience /kənviniəns/ noun 왍
convenience
percentage of salary at your earliest convenience as soon as

control /kəntrəυl/ noun 1. the power
control
| you find it possible

or ability to direct something 쑗 The com- convenience store /kənviniəns
convenience store
pany is under the control of three share- stɔ/ noun a small store selling food or
holders. 쑗 Top management exercises household goods, open until late at night,
tight control over spending. 왍 to lose con- or even 24 hours per day
trol of a business to find that you have ‘…the nation’s largest convenience store
less than 50% of the shares in a company, chain has expanded the range of bills it
and so are not longer able to direct it 쑗 takes payments for to include gas and tel-
The family lost control of its business. 2. ephone services’ [Nikkei Weekly]
the act of restricting or checking some- convenient /kənviniənt/ adjective
convenient
thing or making sure that something is

|
suitable or handy 쑗 A bank draft is a con-

kept in check 왍 under control kept in venient way of sending money abroad. 쑗
check 쑗 Expenses are kept under tight Is 9.30 a convenient time for the meeting?
control. 쑗 The company is trying to bring
convenor /kənvinə/ noun a trade un-
convenor
its overheads back under control. 왍 out of |
control not kept in check 쑗 Costs have ionist who organises union meetings
got out of control. 쐽 verb 1. 왍 to control convergence /kənv&d$əns/ noun a
convergence
a business to direct a business 쑗 The situation where the economic factors ap-
business is controlled by a company plying in two countries move closer to-
based in Luxembourg. 쑗 The company is gether, e.g. when basic interest rates, or
controlled by the majority shareholder. 2. budget deficits become more and more
to make sure that something is kept in similar
check or is not allowed to develop 쑗 The conversion /kənv&ʃ(ə)n/ noun 1. a
conversion
government is fighting to control inflation change 2. the action of changing convert-

or to control the rise in the cost of living. ible loan stock into ordinary shares
(NOTE: controlling – controlled. The
conversion of funds /kənv&ʃ(ə)n
conversion of funds
US spelling is controling – controled.)

|
əv fndz/ noun the act of using money

control group / kəntrəυl !rup/ noun
control group
|
which does not belong to you for a pur-
a small group which is used to check a pose for which it is not supposed to be
sample group used
controlled /kəntrəυld/ adjective ruled
controlled
conversion price /kənv&ʃ(ə)n

conversion price
|
|
or kept in check pras/, conversion rate / kənv&ʃ(ə)n |
controlled economy /kəntrəυld  ret/ noun 1. a price at which preference

controlled economy
| |
kɒnəmi/ noun an economy where most shares are converted into ordinary shares
business activity is directed by orders 2. a rate at which a currency is changed
from the government into a foreign currency
controller /kəntrəυlə/ noun 1. a per- convert /kənv&t/ verb 1. to change
controller convert
| |
son who controls something, especially money of one country for money of an-
the finances of a company 2. US the chief other 쑗 We converted our pounds into
accountant in a company Swiss francs. 2. 왍 to convert funds to
controlling interest /kəntrəυlŋ
controlling interest
|
your own use to use someone else’s mon-
ntrəst/ noun 왍 to have a controlling ey for yourself
convertibility /kənv&təbləti/ noun
convertibility
interest in a company to own more than | |
50% of the shares so that you can direct the ability of a currency to be exchanged
how the company is run for another easily
/kəntrəυl /kən
control systems convertible currency
control systems | convertible currency |
sstəmz/ plural noun the systems used to v&təb(ə)l krənsi/ noun a currency
convertible debenture 88
which can easily be exchanged for anoth- tion where customers and employees are
er partners and share the profits
convertible debenture /kən co-opt /kəυ ɒpt/ verb 왍 to co-opt
convertible debenture co-opt
v&təb(ə)l dbentʃə/ noun a debenture

| someone onto a committee to ask some-
or loan stock which can be exchanged for one to join a committee without being
ordinary shares at a later date elected
convertible loan stock /kən co-owner /kəυ əυnə/ noun a person
convertible loan stock co-owner
v&təb(ə)l ləυn stɒk/ noun money lent who owns something with another person
to a company which can be converted into 쑗 The two sisters are co-owners of the
shares at a later date property.
conveyance /kənveəns/ noun a legal co-ownership /kəυ əυnəʃp/ noun
conveyance co-ownership
document which transfers a property an arrangement where two people own a

from the seller to the buyer property or where partners or employees
conveyancer /kənveənsə/ noun a have shares in a company
conveyancer
copartner /kəυpɑtnə/ noun a person

copartner
person who draws up a conveyance |
conveyancing /kənveənsŋ/ noun who is a partner in a business with another

conveyancing
the work of legally transferring a property person

copartnership /kəυpɑtnəʃp/ noun
copartnership
from a seller to a buyer |
COO abbr chief operating officer

COO
an arrangement where partners or em-
cooling-off period /kulŋ ɒf
cooling-off period
ployees have shares in the company
cope /kəυp/ verb to manage to do some-
cope
pəriəd/ noun 1. (during an industrial

dispute) a period when negotiations have thing 쑗 The new assistant manager coped
to be carried on and no action can be tak- very well when the manager was on holi-
en by either side 2. a period during which day. 쑗 The warehouse is trying to cope
someone who is about to enter into an with the backlog of orders.
copier /kɒpiə/ noun a machine which
copier
agreement may reflect on all aspects of

the arrangement and change his or her makes copies of documents
mind if necessary 쑗 New York has a three copier paper /kɒpiə pepə/ noun
copier paper
day cooling-off period for telephone special paper used in photocopiers

sales. coproperty /kəυprɒpəti/ noun own-
coproperty
co-op /kəυ ɒp/ noun same as cooper-

co-op
ership of property by two or more people

ative together
co-operate /kəυ ɒpəret/ verb to coproprietor /kəυprəpraətə/ noun
co-operate coproprietor
work together 쑗 The regional govern- a person who owns a property with anoth-
ments are co-operating in the fight er person or several other people
against piracy. 쑗 The two firms have co- copy /kɒp/ noun 1. a document which
copy
operated on the computer project. is made to look the same as another 왍 car-
co-operation /kəυɒpəreʃ(ə)n/
co-operation
| | bon copy copy made with carbon paper

noun the act of working together 쑗 The 2. a document 3. a book, a newspaper 쑗
project was completed ahead of schedule Have you kept yesterday’s copy of the
with the co-operation of the workforce. ‘Times’? 쑗 I read it in the office copy of
cooperative /kəυɒp(ə)rətv/ adjec- ‘Fortune’. 쑗 Where is my copy of the tel-
cooperative
tive 1. willing to work together 쑗 The ephone directory? 쐽 verb to make a sec-
workforce has not been cooperative over ond document which is like the first 쑗 He
the management’s productivity plan. 2. copied the company report and took it
where the profits are shared among the home. (NOTE: copies – copying- cop-
workers 쐽 noun a business run by a group ied)
of employees who are also the owners and copyholder /kɒpihəυldə/ noun a
copyholder
who share the profits 쑗 an industrial co- frame on which a document can be put,
operative 쑗 The product is marketed by which stands next to a keyboard, so that
an agricultural cooperative. 쑗 They set the operator can read the text to be copied
up a workers’ cooperative to run the fac- more easily
tory. copying machine /kɒpiŋ məʃin/
copying machine
cooperative society /kəυ

cooperative society
| noun a machine which makes copies of

ɒp(ə)rətv səsaəti/ noun an organisa-
| documents
89 corporate
copy paper /kɒpi pepə/ noun spe- core competence /kɔr
copy paper core competence
cial paper used in photocopiers kɒmpt(ə)ns/ noun a skill or an area of

copyright /kɒpirat/ noun 1. an au-
copyright
expertise possessed by an organisation
thor’s legal right to publish his or her own that makes it particularly good at doing
work and not to have it copied, lasting some things and makes an important con-
seventy years after the author’s death 왍 tribution to its success by giving it com-
work which is out of copyright work by petitive advantage over other organisa-
a writer who has been dead for seventy tions
years 왍 work still in copyright work by core product /kɔ prɒdkt/ noun 1.
core product
a living writer, or by a writer who died the main product which a company makes
less than seventy years ago 2. a legal right or sells 2. a basic product, without added
which protects the creative work of writ- benefits such as credit terms, installation
ers and artists and prevents others from service, etc.
core skills /kɔ sklz/ noun basic
core skills
copying or using it without authorisation,

and which also applies to such things as skills, which are needed by everyone
company logos and brand names 쐽 verb core time /kɔ tam/ noun a period
core time
to confirm the copyright of a written work when people working under a flexitime
by inserting a copyright notice and pub- system must be present at work
lishing the work 쐽 adjective covered by core values /kɔ vljuz/ plural
core values
the laws of copyright 쑗 It is illegal to pho- noun 1. the main commercial and moral
tocopy a copyright work. principles that influence the way an or-
Copyright Act /kɒpirat kt/ noun
Copyright Act
| ganisation is run and the way it conducts

an Act of Parliament making copyright its business, and that are supposed to be
legal, and controlling the copying of cop- shared by everyone in the organisation
yright material from senior management to ordinary em-
copyrighted /kɒpiratd / adjective in
copyrighted
ployees (NOTE: Core values are often re-
copyright flected in an organisation’s mission
statement.) 2. a set of concepts and ideals
copyright holder /kɒpirat həυldə/
copyright holder
that guide someone’s life and help them to

noun a person who owns a copyright and make important decisions
who can expect to receive royalties from core workers /kɔ w&kəz/ plural
core workers
it noun workers who are in full-time em-

copyright law /kɒpirat lɔ/ noun
copyright law
ployment (as opposed to part-timers or

laws concerning the protection of copy- casual workers who are called ‘peripheral
right workers’)
copyright notice /kɒpirat nəυts/ corner /kɔnə/ noun a situation where
copyright notice corner
noun a note in a book showing who owns one person or a group controls the supply
the copyright and the date of ownership of a certain commodity 쑗 The syndicate
tried to create a corner in the silver mar-
copywriter /kɒpiratə/ noun a person
copywriter
who writes advertisements ket. 쐽 verb 왍 to corner the market to

own most or all of the supply of a com-
core /kɔ/ noun the central or main part
core
modity and so control the price 쑗 The

core business /kɔ bzns/ noun the syndicate tried to corner the market in sil-
core business
most important work that an organisation ver.

corner shop /kɔnə ʃɒp/ noun a small
corner shop
does, that it is most expert at, that makes

it different from other organisations, that privately owned general store
contributes most to its success and, usual- corp abbr US corporation
corp
ly, that it was originally set up to do corporate /kɔp(ə)rət/ adjective 1. re-

corporate
(NOTE: The concept of core business be- ferring to corporations or companies, or

came prominent in the 1980s when at- to a particular company as a whole 2. re-
tempts at diversification by large compa- ferring to business in general 쑗 corporate
nies proved less successful than expect- America 쑗 corporate Britain
ed.)
‘…the prime rate is the rate at which banks
core capability /kɔr kepəblti/
core capability
| lend to their top corporate borrowers’

noun same as core competence [Wall Street Journal]
corporate brand 90
‘…if corporate forecasts are met, sales corporate name /kɔp(ə)rət nem/
corporate name
will exceed $50 million next year’ noun the name of a large corporation
[Citizen (Ottawa)] corporate plan /kɔp(ə)rət pln/
corporate plan
corporate brand /kɔp(ə)rət

corporate brand
noun a plan for the future work of a whole

brnd/ noun the overall image that a company
company presents to the outside world, or corporate planning /kɔp(ə)rət
corporate planning
the image of it that exists in the minds of plnŋ/ noun the process of planning
its customers, its employees and the pub- the future work of a whole company
lic, that encapsulates what it does and
corporate portal /kɔp(ə)rət
corporate portal
what it stands for

pɔt(ə)l/ noun a main website that al-
climate /kɔp(ə)rət
corporate climate
corporate lows access to all the information and

klamət/ noun the general feeling and software applications held by an organi-
atmosphere within an organisation that is sation and provides links to information
mainly created by the attitudes of its man- from outside it (NOTE: A corporate portal
agers towards their work, their staff and is a development of intranet technology
their customers and that can affect such and, ideally, should allow users to ac-
things as productivity, creativity, and cus- cess groupware, email, and desktop ap-
tomer focus plications, and to customise the way in-
corporate communication
corporate communication
formation is presented and the way it is

/kɔp(ə)rət kəmjunkeʃ(ə)n/ noun
| used.)
the activities undertaken by an organisa- corporate
corporate profits
profits /kɔp(ə)rət
tion to pass on information both to its own prɒfts/ plural noun the profits of a cor-
employees and to its existing and pro- poration
spective customers and the general public ‘…corporate profits for the first quarter
culture /kɔp(ə)rət
corporate culture
corporate showed a 4 per cent drop from last year’

kltʃə/ noun the often unspoken beliefs [Financial Times]
and values that determine the way an or- corporate raider /kɔp(ə)rət redə/
corporate raider
ganisation does things, the atmosphere noun a person or company which buys a
that exists within it and the way people stake in another company before making
who work for it behave (NOTE: The cul- a hostile takeover bid
ture of an organisation is often summed corporate
corporate vision
vision /kɔp(ə)rət
up as ‘the way we do things around v$(ə)n/ noun the overall aim or purpose
here’.) of an organisation that all its business ac-
corporate evolution /kɔp(ə)rət
corporate evolution
tivities are designed to help it achieve

ivəluʃ(ə)n/ noun the process of
|
(NOTE: An organisation’s corporate vi-
change and development that takes place sion is usually summed up in its vision
in organisations as a result of the use of statement.)
information technology corporation /kɔpəreʃ(ə)n/ noun 1.
corporation
corporate governance /kɔp(ə)rət

corporate governance
a large company 2. US a company which

!v(ə)nəns/ noun a theory of the way is incorporated in the United States 3. a
companies should be run municipal authority
corporate hospitality /kɔp(ə)rət COMMENT: A corporation is formed by
corporate hospitality
hɒsptlti/ noun entertainment provid- registration with the Registrar of Compa-
nies under the Companies Act (in the
|
ed by an organisation, originally intended case of public and private companies) or

to help salespeople build relationships other Acts of Parliament (in the case of
with customers, but now increasingly building societies and charities).
used as an incentive for staff and in team- corporation
corporation income tax
income tax
building and training exercises for em- /kɔpəreʃ(ə)n nkm tks/ noun a
ployees tax on profits made by incorporated com-
corporate image /kɔp(ə)rət panies
corporate image
md$/ noun an idea which a company corporation loan /kɔpəreʃ(ə)n

corporation loan
would like the public to have of it ləυn/ noun a loan issued by a local au-
corporate income tax /kɔp(ə)rət thority
corporate income tax
nkm tks/ noun US a tax paid on the corporation tax /kɔpəreʃ(ə)n

corporation tax
income of a business tks/ noun a tax on profits and capital

91 cost driver
gains made by companies, calculated be- 쑗 We’ve made some cosmetic changes to
fore dividends are paid. Abbreviation CT our product line. 쑗 Packaging has both
correct /kərekt/ adjective accurate or practical as well as cosmetic importance.
correct
right 쑗 The published accounts do not cost /kɒst/ noun 1. the amount of mon-
cost
give a correct picture of the company’s fi- ey which has to be paid for something 쑗
nancial position. 쐽 verb to remove mis- What is the cost of a first class ticket to
takes from something 쑗 The accounts de- New York? 쑗 Computer costs are falling
partment have corrected the invoice. 쑗 each year. 쑗 We cannot afford the cost of
You will have to correct all these typing two cars. 왍 to cover costs to produce
errors before you send the letter. enough money in sales to pay for the costs
correction /kərekʃən/ noun 1. an act of production 쑗 The sales revenue barely
correction
of making something correct 쑗 She made covers the costs of advertising or the ad-
some corrections to the text of the speech. vertising costs. 왍 to sell at cost to sell at
2. a change in the valuation of something a price which is the same as the cost of
that is thought to be overvalued or under- manufacture or the wholesale cost 2. 왍
valued which results in its being more re- cost of borrowing Same as borrowing
alistically valued costs 쐽 verb 1. to have as its price 쑗
‘…there were fears in October that shares How much does the machine cost? 쑗 This
were overvalued and bears were ready to cloth costs £10 a metre. 2. 왍 to cost a
enter the market. This only proved to be a product to calculate how much money
small correction’ [Investors Chronicle] will be needed to make a product, and so
correlation /kɒrəleʃ(ə)n/ noun the
correlation
|
work out its selling price
cost, insurance, and freight /kɒst
cost, insurance, and freight
degree to which there is a relationship be-

tween two sets of data 쑗 Is there any cor- nʃυərəns ən fret/ noun the estimate
|
relation between people’s incomes and of a price, which includes the cost of the
the amount they spend on clothing? 쒁 co- goods, the insurance, and the transport
efficient of correlation charges. Abbreviation CIF, c.i.f.
correspond /kɒrspɒnd/ verb 1. 왍 to cost accountant /kɒst əkaυntənt/
correspond cost accountant
|
|
correspond with someone to write let- noun an accountant who gives managers
ters to someone 2. 왍 to correspond with information about their business costs
something to fit or to match something cost accounting /kɒst əkaυntŋ/
cost accounting
correspondence /kɒrspɒndəns/
|
correspondence
|
noun the process of preparing special ac-
noun letters, emails or other messages ex- counts of manufacturing and sales costs
changed 왍 to be in correspondence with
cost analysis /kɒst ənləss/ noun
cost analysis
someone to write letters to someone and |
receive letters back the process of calculating in advance

what a new product will cost
/kɒr
correspondence clerk
correspondence clerk
cost-benefit analysis /kɒst benft
| cost-benefit analysis
spɒndəns klɑk/ noun a clerk whose re-

sponsibility it is to answer correspond- ənləss/ noun the process of compar-
|
ence ing the costs and benefits of various pos-

sible ways of using available resources.
correspondent /kɒrspɒndənt/
correspondent
Also called benefit-cost analysis

noun a journalist who writes articles for a
cost centre /kɒst sentə/ noun a per-
cost centre
newspaper on specialist subjects 쑗 He is

the Paris correspondent of the Daily Tele- son or group whose costs can be itemised
graph. and to which costs can be allocated in ac-
corrupt /kərpt/ adjective 1. (person,
corrupt
|
counts
cost-cutting /kɒst ktŋ/ noun the
cost-cutting
especially an official) who takes bribes;

referring to the taking of bribes 쑗 They process of reducing costs 쑗 As a result of
accused the minister’s assistant of cor- cost-cutting, we have had to make three
rupt practices. 2. (data on a computer secretaries redundant.
disk) which is faulty and therefore cannot cost driver /kɒst dravə/ noun a fac-
cost driver
be used 쐽 verb to make data unusable 쑗 tor that determines how much it costs to
The faulty disk drive corrupted our files. carry out a particular task or project, e.g.
cosmetic /kɒzmetk/ adjective refer-
cosmetic
| the amount of resources needed for it, or

ring to the appearance of people or things the activities involved in completing it
cost-effective 92
cost-effective /kɒst fektv/ adjec- dex, but includes other items such as the
cost-effective
tive giving good value when compared interest on mortgages.

with the original cost 쑗 We find advertis- cost of sales /kɒst əv selz/ noun all
cost of sales
ing in the Sunday newspapers very cost- the costs of a product sold, including
effective. manufacturing costs and the staff costs of
cost-effectiveness /kɒst  the production department, before gener-
cost-effectiveness
fektvnəs/, cost efficiency noun the al overheads are calculated. Also called
quality of being cost-effective 쑗 Can we cost of goods sold
calculate the cost-effectiveness of air cost per click-through /kɒst pə
cost per click-through
freight against shipping by sea? klk θru/ noun a method of pricing on-
cost factor /kɒst fktə/ noun the line advertising, based on the principle
cost factor
problem of cost that the seller gets paid whenever a visitor

cost inflation /kɒst nfleʃ(ə)n/ noun
cost inflation
clicks on an advertisement
cost plus /kɒst pls/ noun a system
|
cost plus
same as cost-push inflation

costing /kɒstŋ/ noun a calculation of
costing
of calculating a price, by taking the cost
the manufacturing costs, and so the sell- of production of goods or services and
ing price, of a product 쑗 The costings give adding a percentage to cover the suppli-
us a retail price of $2.95. 쑗 We cannot do er’s overheads and margin 쑗 We are
the costing until we have details of all the charging for the work on a cost plus basis.
cost price /kɒst pras/ noun a selling
cost price
production expenditure.
costly /kɒstl/ adjective costing a lot of
costly
price which is the same as the price, either
money, or costing too much money 쑗 De- the manufacturing price or the wholesale
price, which the seller paid for the item
fending the court case was a costly proc-
cost-push inflation /kɒst pυʃ n
cost-push inflation
ess. 쑗 The mistakes were time-consuming |
and costly. fleʃ(ə)n/ noun inflation caused by in-

creased wage demands and increased raw
cost of capital /kɒst əv kpt(ə)l/
cost of capital
materials costs, which lead to higher pric-

noun interest paid on the capital used in
es, which in turn lead to further wage de-
operating a business mands. Also called cost inflation
cost of entry /kɒst əv entri/ noun
cost of entry
costs /kɒsts/ plural noun the expenses

costs
the cost of going into a market for the first involved in a court case 쑗 The judge
time awarded costs to the defendant. 쑗 Costs
cost of goods sold /kɒst əv !υdz
cost of goods sold
of the case will be borne by the prosecu-

səυld/ noun same as cost of sales tion. 왍 to pay costs to pay the expenses of
cost of living /kɒst əv lvŋ/ noun
cost of living
a court case
money which has to be paid for basic cottage industry /kɒtd$ ndəstr/
cottage industry
items such as food, heating or rent 쑗 to al- noun the production of goods or some
low for the cost of living in the salary ad- other type of work, carried out by people
justments working in their own homes
cost-of-living allowance /kɒst əv cotton mill /kɒtən ml/ noun a factory
cost-of-living allowance
cotton mill
lvŋ əlaυəns/ noun an addition to nor-

|
where raw cotton is processed
mal salary to cover increases in the cost of council /kaυnsəl/ noun an official
council
living (NOTE: The US term is COLA.) group chosen to run something or to ad-
cost-of-living bonus /kɒst əv lvŋ
cost-of-living bonus
vise on a problem
bəυnəs/ noun money paid to meet an in- counsel /kaυnsəl/ noun a lawyer act-
counsel
crease in the cost of living ing for one of the parties in a legal action
cost-of-living increase /kɒst əv
cost-of-living increase
쑗 defence counsel 쑗 prosecution counsel

lvŋ nkris/ noun an increase in salary 쐽 verb to advise 왍 he counselled caution
to allow it to keep up with the increased he advised us to act carefully
cost of living counselling /kaυnsəlŋ/ noun the act
counselling
cost-of-living index /kɒst əv lvŋ

cost-of-living index
of giving professional advice to others on

ndeks/ noun a way of measuring the personal matters 쑗 An office is being set
cost of living which is shown as a percent- up for counselling employees who have
age increase on the figure for the previous professional or social problems. 쑗 Coun-
year. It is similar to the consumer price in- selling helps employees get accustomed
93 coupon
to their new environment, by offering ad- counterpart /kaυntəpɑt/ noun a per-
counterpart
vice and guidance. (NOTE: The US spell- son who has a similar job in another com-
ing is counseling.) pany 왍 John is my counterpart in
count /kaυnt/ verb 1. to add figures to- Smith’s John has the same post as I have
count
gether to make a total 쑗 She counted up here

the sales for the six months to December. counterparty /kaυntəpɑti/ noun the
counterparty
2. to include something 쑗 Did you count other party in a deal

my trip to New York as part of my sales ex- counter-productive /kaυntə prə
counter-productive
penses? dktv/ adjective which has the opposite

count on phrasal verb to expect some- effect to what you expect 쑗 Increasing
thing to happen or to be given to you 쑗 overtime pay was counter-productive, the
They are counting on getting a good re- workers simply worked more slowly. 쑗
sponse from the TV advertising. 쑗 Do The MD’s talk about profitability was
not count on a bank loan to start your quite counter-productive, as it encour-
business. aged the employees to ask for higher wag-
counter- /kaυntə/ prefix against es.
counter-
counterbid /kaυntəbd / noun a high- countersign /kaυntəsan/ verb to

countersign
counterbid
er bid in reply to a previous bid 쑗 When I sign a document which has already been
bid £20 she put in a counterbid of £25. 쐽 signed by someone else 쑗 All our cheques
verb to make a higher bid in reply to a have to be countersigned by the finance
previous bid 쑗 When I bid £20 he coun- director. 쑗 The sales director counter-
terbid £25. signs all my orders.
counter staff /kaυntə stɑf/ noun
counter staff
counter-claim / kaυntə klem/ noun

counter-claim
a claim for damages made in reply to a sales staff who serve behind counters
countervailing duty /kaυntəvelŋ
countervailing duty
previous claim 쑗 Jones claimed £25,000

in damages against Smith, and Smith en- djuti/ noun a duty imposed by a coun-
tered a counter-claim of £50,000 for loss try on imported goods, where the price of
of office. 쐽 verb to put in a counter-claim the goods includes a subsidy from the
for something 쑗 Jones claimed £25,000 government in the country of origin. Also
in damages and Smith counter-claimed called anti-dumping duty
£50,000 for loss of office. counting house /kaυntŋ haυs/
counting house
counterfeit /kaυntəft/ adjective re- noun a department dealing with cash

counterfeit
ferring to false or imitation money 쑗 (dated)

Shops in the area have been asked to look country /kntri/ noun land which is
country
out for counterfeit £20 notes. 쐽 verb to separate and governs itself 쑗 some Afri-
make imitation money can countries export oil 쑗 the Organiza-
counterfoil /kaυntəfɔl/ noun a slip
counterfoil
tion of Petroleum Exporting Countries 쑗
of paper kept after writing a cheque, an The contract covers distribution in the
invoice or a receipt, as a record of the deal countries of the EU. 왍 the managing di-
which has taken place rector is out of the country she is on a
countermand /kaυntəmɑnd/ verb
countermand
business trip abroad
country of origin /kntri əv
|
country of origin
to say that an order must not be carried

out 쑗 to countermand an order ɒrd$n/ noun a country where a product
is manufactured or where a food product
counter-offer /kaυntər ɒfə/ noun a
counter-offer
comes from 쑗 All produce must be la-

higher or lower offer made in reply to an- belled to show the country of origin.
other offer 쑗 Smith Ltd made an offer of
couple /kp(ə)l/ noun two things or
couple
£1m for the property, and Blacks replied

with a counter-offer of £1.4m. people taken together 쑗 We only have
enough stock for a couple of weeks. 쑗 A
‘…the company set about paring costs and couple of the directors were ill, so the
improving the design of its product. It
came up with a price cut of 14%, but its board meeting was cancelled. 왍 the ne-
counter-offer – for an order that was to gotiations lasted a couple of hours the
have provided 8% of its workload next negotiations went on for about two hours
coupon /kupɒn/ noun 1. a piece of
coupon
year – was too late and too expensive’

[Wall Street Journal] paper used in place of money 2. a piece of
coupon ad 94
paper which replaces an order form 3. a to have any dealings with someone, espe-
slip of paper attached to a government cially a fellow-worker 쑗 After he told the
bond certificate which can be cashed to management about the thefts, the other
provide the annual interest workers sent him to Coventry. 쑗 Workers
coupon ad /kupɒn d/ noun an ad-
coupon ad
who carried on working were sent to Cov-
vertisement with a form attached, which entry after the strike ended.
cover /kvə/ noun 1. the proportion of
cover
you cut out and return to the advertiser

with your name and address for further in- a target audience reached by advertising
formation 2. the protection guaranteed by insurance
courier /kυriə/ noun a person or com-
courier
왍 to operate without adequate cover to

pany which arranges to carry parcels or operate without being protected by
take messages from one place another in enough insurance 왍 to ask for additional
a town 쐽 verb to send by courier 쑗 We cover to ask the insurance company to in-
will courier the package to your hotel. crease the amount for which you are in-
course /kɔs/ noun 1. 왍 in the course
course
sured 3. an amount of money large
of during or while something is happen- enough to guarantee that something can
ing 쑗 In the course of the discussion, the be paid for 쑗 Do you have sufficient cover
managing director explained the compa- for this loan? 4. 왍 to send something un-
ny’s expansion plans. 쑗 Sales have risen der separate cover in a separate enve-
sharply in the course of the last few lope 왍 to send a magazine under plain
months. 2. a series of lessons or a pro- cover in an ordinary envelope with no
gramme of instruction 쑗 She has finished company name printed on it 쐽 verb 1. to
her secretarial course. 쑗 The company provide protection by insurance against
has paid for her to attend a course for something 쑗 The insurance covers fire,
trainee sales managers. 쑗 Management theft and loss of work. 왍 the damage was
trainees all took a six-month course in covered by the insurance the damage
business studies. 쑗 The training officer was of a kind that the insurance policy
was constantly on the lookout for new protects against or the insurance company
courses in management studies. 쑗 The paid enough money to enable the damage
company sent her on a management to be repaired 왍 to be fully covered to
course. 3. 왍 of course naturally 쑗 Of have insurance against all risks 2. to have,
course the company is interested in prof- earn or provide enough money to pay for
its. 쑗 Are you willing to go on a sales trip something 쑗 We do not make enough
to Australia? – Of course! sales to cover the expense of running the
court /kɔt/ noun a place where a judge
court
shop. 쑗 Breakeven point is reached when
listens to a case and decides legally which sales cover all costs. 왍 to cover a posi-
of the parties in the argument is right 왍 to tion to have enough money to be able to
take someone to court to tell someone to pay for a forward purchase 3. to earn
appear in court to settle an argument enough money to pay for costs, expenses,
etc. 쑗 We do not make enough sales to
court case /kɔt kes/ noun a legal ac-
court case
cover the expense of running the shop. 쑗

tion or trial Breakeven point is reached when sales
court order /kɔt ɔdə/ noun a legal cover all costs. 왍 the dividend is covered
court order
order made by a court, telling someone to four times profits are four times the divi-
do or not to do something dend paid out 4. to ask for security against
covenant /kvənənt/ noun a legal a loan which you are making
covenant
contract 쐽 verb to agree to pay annually a ‘…three export credit agencies have
specified sum of money to a person or or- agreed to provide cover for large projects
ganisation by contract. When payments in Nigeria’ [Business Times (Lagos)]
are made under covenant to a charity, the coverage /kv(ə)rd$/ noun US pro-
coverage
charity can reclaim the tax paid by the tection guaranteed by insurance 쑗 Do you
donee. 쑗 to covenant to pay £10 per an- have coverage against fire damage?
num ‘…from a PR point of view it is easier to
Coventry /kɒvəntri/ 왍 to send some-
Coventry
get press coverage when you are selling an

one to Coventry to refuse to speak to or industry and not a brand’ [PR Week]
95 credibility gap
cover charge /kvə tʃɑd$/ noun (in ‘…agencies are being called on to produce
cover charge
restaurants) a charge for a place at the ta- great creative work and at the same time
ble in addition to the charge for food deliver value for money’ [Marketing
covering letter /kvərŋ letə/, cov-
covering letter
Week]
creative accountancy /krietv ə
creative accountancy
ering note /kvərŋ nəυt/ noun a let- | |
ter sent with documents to say why they kaυntŋ/, creative accounting noun
are being sent an adaptation of a company’s figures to
cover note /kvə nəυt/ noun a letter
cover note
present a better picture than is correct,
from an insurance company giving details usually intended to make a company
of an insurance policy and confirming more attractive to a potential buyer, or
that the policy exists done for some other reason which may
not be strictly legal
cowboy / kaυbɔ/ noun a workman
cowboy
COMMENT: Creative accounting is the

who does bad work and charges a high term used to cover a number of account-
price 쑗 The people we got in to repaint ing practices which, although legal, may
the office were a couple of cowboys. be used to mislead banks, investors and
cowboy outfit /kaυbɔ aυtft/ noun shareholders about the profitability or li-
cowboy outfit
quidity of a business.
company which does bad work and charg-
creative destruction /krietv d
creative destruction
es high prices | |
CPI abbr Consumer Price Index

CPI
strkʃ(ə)n/ noun a term used to describe
the process in which in existing goods,
Cr, CR abbr credit
Cr
services, or organisations are replaced by

crane /kren/ noun a machine for lifting
crane
new ones as a result of innovation (NOTE:

heavy objects 쑗 The container slipped as The term was very popular during the
the crane was lifting it onto the ship. 쑗 dot-com boom of the late 1990s and
They had to hire a crane to get the ma- early 2000s.)
chine into the factory. creative director /krietv da
creative director
crash /krʃ/ noun a financial collapse

crash | |
rektə/ noun an employee of an advertis-

쑗 The financial crash caused several ing agency who is in overall charge of
bankruptcies. 쑗 He lost all his money in finding the right words and images to pro-
the crash of 1929. 쐽 verb to collapse fi- mote the product during an advertising
nancially 쑗 The company crashed with campaign
debts of over £1 million.
creative selling /krietv selŋ/
creative selling
crash-test /krʃ test/ verb to estab-

crash-test |
noun a sales technique where the main

lish the safety and reliability of something emphasis is on generating new business
by testing it in different ways
creativity /krietvti/, creative
creativity
crate / kret/ noun a large wooden box 쑗

crate |
thinking /krietv θŋkŋ/ noun the

a crate of oranges 쐽 verb to put goods
|
ability to use the imagination to produce

into crates new ideas or things
creaming /krimŋ/ noun the act of
creaming
crèche /kreʃ/ noun a special room or

crèche
fixing a high price for a product in order building on a company’s premises where
to achieve high short-term profits
babies and small children can be looked
create /kriet/ verb to make something
create
|
after 쑗 The company provides crèche fa-
new 쑗 By acquiring small unprofitable cilities for its staff. Compare nursery
companies he soon created a large manu-
credentials /krdenʃəlz/ plural noun
credentials
facturing group. 쑗 The government |
scheme aims at creating new jobs for letters or documents which describe a
young people. person’s qualities and skills 쑗 The new
production manager has very impressive
‘…he insisted that the tax advantages he credentials.
directed towards small businesses will
credere /kredəri/ noun 쏡 del credere
credere
help create jobs and reduce the unemploy-

ment rate’ [Toronto Star] agent
creation /krieʃ(ə)n/ noun the process credibility /kredblti/ noun the state
creation credibility
| |
of making something of being trusted

creative /krietv/ noun someone who credibility gap /kredblti !p/
creative credibility gap
| |
works in the conceptual or artistic side of noun a discrepancy between claims for a
a business product made by the manufacturer and
credit 96
acceptance of these claims by the target credit card sale /kredt kɑd sel/
credit card sale
audience 쑗 The credibility gap that we noun the act of selling where the buyer
face is partly due to our product’s bad uses a credit card to pay
performance record. 쒁 source credibili- credit column /kredt kɒləm/ noun
credit column
ty the right-hand column in accounts show-

credit /kredt/ noun 1. a period of time
credit
ing money received

allowed before a customer has to pay a credit control /kredt kəntrəυl/
credit control
debt incurred for goods or services 쑗 to noun a check that customers pay on time
give someone six months’ credit 쑗 to sell and do not owe more than their credit lim-
on good credit terms 왍 letter of credit (L it
or C) a letter from a bank, allowing some- credit controller /kredt kəntrəυlə/
credit controller
one credit and promising to repay at a lat- noun a member of staff whose job is to try
er date 왍 to open a line of credit, a credit to get payment of overdue invoices
line to make credit available to someone
credit entry /kredt entri/ noun an
credit entry
왍 on credit without paying immediately

쑗 to live on credit 쑗 We buy everything on entry on the credit side of an account
credit facilities /kredt fəsltiz/
credit facilities
sixty days credit. 쑗 The company exists on |
credit from its suppliers. 2. an amount en- plural noun an arrangement with a bank
tered in accounts to show a decrease in as- or supplier to have credit so as to buy
sets or expenses or an increase in liabili- goods
ties, revenue or capital. In accounts, cred- credit freeze /kredt friz/ noun a pe-
credit freeze
its are entered in the right-hand column. 쑗 riod when lending by banks is restricted
to enter £100 to someone’s credit 쑗 to pay by the government
in £100 to the credit of Mr Smith Compare credit history /kredt hst(ə)ri/
credit history
debit 왍 account in credit an account noun a record of how a potential borrower

where the credits are higher than the deb- has repaid his or her previous debts
its 쐽 verb to put money into someone’s credit limit /kredt lmt/ noun the
credit limit
account, or to note money received in an largest amount of money which a custom-

account 쑗 to credit an account with £100 er can borrow 왍 he has exceeded his
or to credit £100 to an account credit limit he has borrowed more money
credit account /kredt əkaυnt/
credit account
|
than he is allowed to
noun an account which a customer has credit note /kredt nəυt/ noun a note
credit note
with a shop which allows him or her to showing that money is owed to a custom-
buy goods and pay for them later er 쑗 The company sent the wrong order
credit agency /kredt ed$ənsi/
credit agency
and so had to issue a credit note. Abbre-

noun a company which reports on the viation C/N
creditworthiness of customers to show creditor /kredtə/ noun a person or
creditor
whether they should be allowed credit company that is owed money, i.e. a com-
credit balance /kredt bləns/
credit balance
pany’s creditors are its liabilities

noun a balance in an account showing creditors /kredtəz/ noun a list of all
creditors
that more money has been received than is liabilities in a set of accounts, including
owed 쑗 The account has a credit balance overdrafts, amounts owing to other com-
of £100. panies in the group, trade creditors, pay-
credit bank /kredt bŋk/ noun a
credit bank
ments received on account for goods not

bank which lends money yet supplied, etc.
credit card /kredt kɑd/ noun a plas- creditors’ meeting /kredtəz
credit card creditors’ meeting
tic card which allows you to borrow mon- mitŋ/ noun a meeting of all the people
ey and to buy goods without paying for to whom an insolvent company owes
them immediately. You must pay the bal- money, to decide how to obtain the money
ance to the credit card company at a later owed
date. credit rating /kredt retŋ/ noun an
credit rating
credit card holder / kredt kɑd amount which a credit agency feels a cus-
credit card holder
həυldə/ noun 1. a person who has a tomer will be able to repay

credit-reference agency /kredt
credit-reference agency
credit card 2. a plastic wallet for keeping

credit cards refər(ə)ns ed$ənsi/ noun a company
97 criticise
used by businesses and banks to assess government stepped in to try to resolve
the creditworthiness of people the international crisis. 쑗 Withdrawals
credit references
credit references
/kredt from the bank have reached crisis level. 왍

refər(ə)nsz/ plural noun details of per- to take crisis measures to take severe
sons, companies or banks who have given measures rapidly to stop a crisis develop-
credit to a person or company in the past, ing
crisis management /krass
crisis management
supplied as references when opening a

credit account with a new supplier mnd$mənt/ noun actions taken by an
credit sale /kredt sel/ noun a sale
credit sale
organisation to protect itself when unex-
where the purchaser will pay for the pected events or situations occur that
goods bought at a later date could threaten its success or continued
credit side /kredt sad/ noun the
credit side
operation (NOTE: Crisis situations may
result from external factors such as the
right-hand column of accounts showing
money received development of a new product by a com-
petitor or changes in legislation, or from
credit squeeze /kredt skwiz/ noun
credit squeeze
internal factors such as a product failure

a period when lending by the banks is re- or faulty decision-making, and often in-
stricted by the government volve the need to make quick decisions
credit transfer /kredt trnsf&/
credit transfer
on the basis of uncertain or incomplete

noun an act of moving money from one information.)
account to another critical mass /krtk(ə)l ms/ noun
critical mass
credit union /kredt junjən/ noun a

credit union
the point at which an organisation or a

group of people who pay in regular de- project is generating enough income or
posits or subscriptions which earn interest has gained a large enough market share to
and are used to make loans to other mem- be able to survive on its own or to be
bers of the group worth investing more money or resources
creditworthiness /kredtw&ðinəs/ in
creditworthiness
noun the ability of a customer to pay for critical path analysis /krtk(ə)l
critical path analysis
goods bought on credit pɑθ ənləss/ noun an analysis of the

|
creditworthy /kredtw&ði/ adjective way a project is organised in terms of the

creditworthy
having enough money to be able to buy minimum time it will take to complete,
goods on credit 쑗 We will do some checks calculating which parts can be delayed
on her to see if she is creditworthy. without holding up the rest of the project
critical-path method /krtk(ə)l
critical-path method
crew /kru/ noun a group of people who

crew
work on a plane, ship, etc. 쑗 The ship car- pɑθ meθəd/ noun a technique used in
ries a crew of 250. project management to identify the activ-
crime /kram/ noun an act which is
crime
ities within a project that are critical to its
against the law 쑗 Crimes in supermarkets success, usually by showing on a diagram
have risen by 25%. or flow chart the order in which activities
must be carried out so that the project can
criminal /krmn(ə)l/ adjective illegal
criminal
be completed in the shortest time and at

쑗 Misappropriation of funds is a criminal the least cost
act.
critical restructuring /krtk(ə)l ri
critical restructuring
criminal action /krmn(ə)l kʃən/

criminal action |
strktʃərŋ/ noun major changes in the

noun a court case brought by the state economy or society that lead to a basic re-
against someone who is charged with a shaping of previous forms of organisation
crime critical success factors /krtk(ə)l
critical success factors
criminal negligence /krmn(ə)l

criminal negligence
səkses fktəz/ plural noun the aspects

ne!ld$əns/ noun failure to do a duty
|
of a business that are considered to be

with the result that harm is done to the in- most necessary for it to be able to achieve
terests of people its aims and continue to operate success-
criminal record /krmn(ə)l rekɔd/
criminal record
fully over time

noun same as police record criticise / krtsaz/, criticize /krt
criticise
crisis /krass/ noun a serious econom- saz/ verb to say that something or some-
crisis
ic situation where decisions have to be one is wrong or is working badly 쑗 The

taken rapidly 쑗 a banking crisis 쑗 The MD criticised the sales manager for not
CRM 98
improving the volume of sales. 쑗 The de- another product a customer has already
sign of the new catalogue has been criti- bought
cised. crude (oil) /krud ɔl/ noun raw petro-
crude
CRM abbr customer relations manage- leum, taken from the ground 쑗 The price
CRM
ment or customer relationship manage- for Arabian crude has slipped.

ment crude petroleum /krud pə
crude petroleum
CRO abbr Companies Registration Of- trəυliəm/ noun raw petroleum which
CRO
fice has not been processed

crore /krɔ/ noun (in India) ten million cryptography /krptɒ!rəfi/ noun
crore cryptography
(NOTE: One crore equals 100 lakh.) the use of codes and ciphers, especially as
‘…the company clocked a sales turnover a way of restricting access to part or all of
of Rs.7.09 crore and earned a profit after a website, so that only a user with a key
tax of Rs.10.39 lakh on an equity base of can read the information
Rs.14 lakh’ [Business India] cubic /kjubk/ adjective measured in
cubic
‘…the turnover for the nine months ended volume by multiplying length, depth and
December 31 registered a 6.26 per cent in- width 쑗 The crate holds six cubic metres.
crease to Rs. 87.91 crores from Rs. 82.73 cubic measure /kjubk me$ə/
cubic measure
crores in the corresponding period last noun volume measured in cubic feet or
year’ [The Hindu]
metres, calculated by multiplying height,
cross /krɒs/ verb 왍 to cross a cheque to
cross
width and length

write two lines across a cheque to show
cue /kju/ noun a factor that makes a
cue
that it has to be paid into a bank

COMMENT: Crossed cheques have the
high-value product different from an ordi-
words ‘A/C payee’ printed in the space nary commodity
cum / km/ preposition with
cum
between the two vertical lines: all British

cheques are now printed in this way. cum coupon /km kupɒn/ adverb
cum coupon
This means that the cheque can only be

paid into a bank, and only into the ac- with a coupon attached or before interest
count of the person whose name is writ- due on a security is paid
cum dividend /km dvdend/, cum
cum dividend
ten on it – it cannot be endorsed to a third

party. div adverb including the next dividend
cross off phrasal verb to remove still to be paid
something from a list 쑗 He crossed my cumulative /kjumjυlətv/ adjective
cumulative
name off his list. 쑗 You can cross him off added to regularly over a period of time
our mailing list.
cumulative interest /kjumjυlətv
cumulative interest
cross out phrasal verb to put a line

through something which has been writ- ntrəst/ noun the interest which is added
ten 쑗 She crossed out £250 and put in to the capital each year
cumulative preference share
cumulative preference share
£500.
crossed cheque /krɒst tʃek/ noun
crossed cheque
/kjumjυlətv pref(ə)rəns ʃeə/, cu-
a cheque with two lines across it showing mulative preferred stock
that it can only be deposited at a bank and /kjumjυlətv prf&d stɒk/ noun a
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not exchanged for cash preference share which will have the div-
idend paid at a later date even if the com-
crossed line /krɒst lan/ noun the
crossed line
pany is not able to pay a dividend in the

result of two telephone conversations get- current year
ting mixed
currency /krəns/ noun 1. money in
currency
cross holding /krɒs həυldŋ/ noun a

cross holding
coins and notes which is used in a partic-

situation where two companies own ular country 2. a foreign currency, the
shares in each other in order to stop either currency of another country ( NOTE: Cur-
from being taken over 쑗 The two compa- rency has no plural when it refers to the
nies have protected themselves from take- money of one country: He was arrested
over by a system of cross holdings. trying to take currency out of the coun-
cross rate /krɒs ret/ noun an ex-
cross rate
try.)
change rate between two currencies ex- ‘…today’s wide daily variations in ex-
pressed in a third currency change rates show the instability of a sys-
cross-selling /krɒs selŋ/ noun the
cross-selling
tem based on a single currency, namely the

selling of a new product which goes with dollar’ [Economist]
99 custom-built
‘…the level of currency in circulation in- valuing assets at their original cost. Ab-
creased to N4.9 billion in the month of Au- breviation CCA
gust’ [Business Times (Lagos)] current liabilities /krənt laə
current liabilities
currency backing /krənsi bkŋ/

currency backing
bltiz/ plural noun the debts which a

noun gold or government securities company has to pay within the next ac-
which maintain the strength of a currency counting period. In a company’s annual
currency basket /krənsi bɑskt/ accounts, these would be debts which
currency basket
noun a group of currencies, each of which must be paid within the year and are usu-
is weighted, calculated together as a sin- ally payments for goods or services re-
gle unit against which another currency ceived.
can be measured currently /krəntli/ adverb at the
currently
currency note /krənsi nəυt/ noun a present time 쑗 We are currently negotiat-
currency note
bank note ing with the bank for a loan.

currency reserves /krənsi r current price /krənt pras/ noun
current price
currency reserves
z&vz/ noun foreign money held by a today’s price

government to support its own currency current rate of exchange /krənt
current rate of exchange
and to pay its debts ret əv kstʃend$/ noun today’s rate of

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current /krənt/ adjective referring to exchange

current
the present time 쑗 the current round of current yield /krənt jild/ noun a
current yield
wage negotiations dividend calculated as a percentage of the

‘…crude oil output plunged during the current price of a share on the stock mar-
past month and is likely to remain at its ket
current level for the near future’ curriculum vitae
curriculum vitae /kərkjυləm

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[Wall Street Journal] vita/ noun a summary of a person’s

current account /krənt əkaυnt/
current account
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work experience and qualifications sent
noun 1. an account in an bank from which to a prospective employer by someone ap-
the customer can withdraw money when plying for a job 쑗 Candidates should send
he or she wants. Current accounts do not a letter of application with a curriculum
always pay interest. 쑗 to pay money into vitae to the HR manager. 쑗 The curricu-
a current account Also called cheque lum vitae listed all the candidate’s previ-
account (NOTE: The US term is check- ous jobs and her reasons for leaving
ing account.) 2. an account of the bal- them. Abbreviation CV (NOTE: The plural
ance of payments of a country relating to is curriculums or curricula vitae. The
the sale or purchase of raw materials, US term is résumé.)
goods and invisibles curve /k&v/ noun a line which is not
curve
‘…a surplus in the current account is of straight, e.g. a line on a graph 쑗 The
such vital importance to economists and graph shows an upward curve.
currency traders because the more Japa-
cushion /kυʃ(ə)n/ noun money which
cushion
nese goods that are exported, the more dol-

lars overseas customers have to pay for allows a company to pay interest on its
these products. That pushes up the value of borrowings or to survive a loss 쑗 We have
the yen’ [Nikkei Weekly] sums on deposit which are a useful cush-
‘…customers’ current deposit and current ion when cash flow is tight.
accounts also rose to $655.31 million at custom /kstəm/ noun 1. the use of a
custom
the end of December’ [Hongkong Stand- shop by regular shoppers 왍 to lose some-
ard] one’s custom to do something which
current assets /krənt sets/ plu-
current assets
makes a regular customer go to another

ral noun the assets used by a company in shop 2. a thing which is usually done 쑗 It
its ordinary work, e.g. materials, finished is the custom of the book trade to allow
goods, cash and monies due, and which unlimited returns for credit. 왍 the cus-
are held for a short time only toms of the trade the general way of
current cost accounting /krənt
current cost accounting
working in a trade
kɒst əkaυntŋ/ noun a method of ac- custom-built /kstəm blt/ adjective
custom-built
counting which notes the cost of replac- made specially for one customer 쑗 He
ing assets at current prices, rather than drives a custom-built Rolls Royce.
customer 100
customer /kstəmə/ noun a person or customer satisfaction /kstəmə
customer customer satisfaction
company that buys goods 쑗 The shop was stsfkʃən/ noun the act of making
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full of customers. 쑗 Can you serve this customers pleased with what they have
customer first please? 쑗 She’s a regular bought
customer of ours. (NOTE: The customer customer service / kstəmə s&vs/
customer service
may not be the consumer or end user of noun a service given to customers once
the product.) they have made their decision to buy, in-
‘…unless advertising and promotion is cluding delivery, after-sales service, in-
done in the context of an overall customer stallation, training, etc.
orientation, it cannot seriously be thought customer service department
of as marketing’ [Quarterly Review of customer service department

Marketing] /kstəmə s&vs dpɑtmənt/ noun a
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department which deals with customers

customer appeal /kstəmər əpil/
customer appeal
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and their complaints and orders
noun what attracts customers to a product
customisation / kstəmazeʃ(ə)n/,
customisation
/kstəmə
customer capital |
customer capital customization noun the process of mak-

kpt(ə)l/ noun an organisation’s rela- ing changes to products or services that
tionships with its customers considered as enable them to satisfy the particular needs
a business asset of individual customers
customer care /kstəmə keə/ noun
customer care
customise /kstəmaz/, customize

customise
the activity of looking after customers, so verb to change something to fit the spe-
that they do not become dissatisfied cial needs of a customer 쑗 We use custom-
customer-centric model /kstəmə
customer-centric model
ised computer terminals.

sentrk mɒd(ə)l/ noun a business mod- customs /kstəmz/ plural noun the
customs
el that is based on an assessment of what government department which organises

the customer needs the collection of taxes on imports, or an
customer focus /kstəmə fəυkəs/
customer focus
office of this department at a port or air-

noun the aiming of all marketing opera- port 쑗 He was stopped by customs. 쑗 Her
tions towards the customer car was searched by customs. 왍 to go
customer loyalty / kstəmə lɔəlti/
customer loyalty
through customs to pass through the area
noun the feeling of customers who al- of a port or airport where customs offi-
ways shop at the same shop cials examine goods 왍 to take something
‘…a difficult market to get into, China
through customs to carry something ille-
nevertheless offers a high degree of cus- gal through a customs area without de-
tomer loyalty once successfully entered’ claring it 왍 the crates had to go through
[Economist] a customs examination the crates had to
be examined by customs officials
/kstəmə
customer profile
customer profile
customs barrier /kstəmz briə/
customs barrier
prəυfal/ noun a description of an aver-

age customer for a product or service 쑗 noun customs duty intended to make
The customer profile shows our average trade more difficult
customs broker /kstəmz brəυkə/
customs broker
buyer to be male, aged 25–30, and em-

ployed in the service industries. noun a person or company that takes
customer profitability /kstəmə
customer profitability
goods through customs for a shipping
prɒftəblti / noun the amount of profit
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company
clearance /kstəmz
customs clearance
generated by each individual customer. customs

Usually a small percentage of customers klərəns/ noun 1. the act of passing
generate the most profit. goods through customs so that they can
customer relationship management
customer relationship manage- enter or leave the country 2. a document

ment /kstəmə rleʃ(ə)nʃp |
given by customs to a shipper to show that
mnd$mənt/ noun an approach to customs duty has been paid and the goods
management that focuses on building and can be shipped 쑗 to wait for customs
maintaining long-term relationships with clearance
customs declaration /kstəmz
customs declaration
customers through the use of, e.g., loyalty

cards, special credit cards and Internet dekləreʃ(ə)n/ noun a statement show-
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contacts. Abbreviation CRM ing goods being imported on which duty

101 cyclicals
will have to be paid 쑗 to fill in a customs ‘…the US bank announced a cut in its
declaration form prime from 10½ per cent to 10 per cent’
customs duty /kstəmz djuti/
customs duty
[Financial Times]
noun a tax on goods imported into a ‘Opec has on average cut production by
country one third since 1979’ [Economist]
cut in phrasal verb 왍 to cut someone
customs entry point /kstəmz
customs entry point
in on a deal to give someone a share in

entri pɔnt/ noun a place at a border be- the profits of a deal (informal )
tween two countries where goods are de- cut down (on) phrasal verb to reduce
clared to customs suddenly the amount of something used
customs examination /kstəmz !
customs examination
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쑗 The government is cutting down on
zmneʃ(ə)n/ noun an inspection of welfare expenditure. 쑗 The office is try-
goods or baggage by customs officials ing to cut down on electricity consump-
customs formalities /kstəmz fɔ
customs formalities
| tion. 쑗 We have installed networked

mltiz/ plural noun a declaration of computers to cut down on paperwork.
goods by the shipper and examination of cutback /ktbk/ noun a reduction 쑗
cutback
them by customs cutbacks in government spending

customs officer /kstəmz ɒfsə/ cut-price store /kt pras stɔ/
customs officer
cut-price store
noun a person working for the Customs noun a store selling cut-price goods
and Excise Department cut-throat competition /kt θrəυt
cut-throat competition
customs official /kstəmz əfʃ(ə)l/ kɒmpətʃ(ə)n/ noun sharp competition

customs official
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|
noun a person working for the Customs which cuts prices and offers high dis-
and Excise Department counts
customs seal /kstəmz sil/ noun a cutting /ktŋ/ noun a piece cut out of
customs seal cutting
seal attached by a customs officer to a a publication which refers to an item of

box, to show that the contents have not particular interest
passed through customs cutting-edge /ktŋ ed$/ adjective
cutting-edge
customs tariff /kstəmz trf/

customs tariff
using or involving the latest and most ad-

noun a list of taxes to be paid on imported vanced techniques and technologies
goods CV abbr curriculum vitae 쑗 Please apply
CV
customs union /kstəmz junjən/

customs union
in writing, enclosing a current CV.

noun an agreement between several CWO abbr cash with order
CWO
countries that goods can travel between cybercrime /sabəkram/ noun a

cybercrime
them, without paying duty, while goods crime committed using the Internet
from other countries have to pay special
cyber mall /sabə mɑl/ noun a web-
cyber mall
duties
site that provides information and links
cut /kt/ noun 1. the sudden lowering of
cut
for a number of online businesses

a price, salary or the number of jobs 쑗 cybershopping /sabəʃɒpŋ/ noun
cybershopping
price cuts or cuts in prices 왍 he took a cut

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the activity of making purchases using the

in salary, he took a salary cut he accept- Internet
ed a lower salary 2. a share in a payment
cycle /sak(ə)l/ noun a set of events
cycle
쑗 She introduces new customers and gets

a cut of the sales rep’s commission. 쐽 which happen in a regularly repeated se-
verb 1. to lower something suddenly 쑗 quence
cyclical /sklk(ə)l/ adjective happen-
cyclical
We are cutting prices on all our models. 쑗

We have taken out the second telephone ing in cycles
line in order to try to cut costs. 왍 to cut cyclical factors /sklk(ə)l fktəz/
cyclical factors
(back) production to reduce the quantity plural noun the way in which a trade cy-
of products made 2. to reduce the number cle affects businesses
of something 왍 to cut jobs to reduce the cyclicals /sklk(ə)lz/ plural noun
cyclicals
number of jobs by making people redun- shares which move up and down in cycles
dant 왍 he cut his losses he stopped doing ‘…consumer cyclicals such as general re-
something which was creating a loss tailers should in theory suffer from rising
‘…state-owned banks cut their prime rates interest rates. And food retailers in partic-
a percentage point to 11%’ [Wall Street ular have cyclical exposure without price
Journal] power’ [Investors Chronicle]
D
daily /deli/ adjective done every day 왍 machinery poses a danger to the work-
daily
daily production of cars number of cars force. 쑗 The red light means danger. 2.
produced each day 왍 daily interest, in- the likelihood or possibility of something
terest calculated daily or on a daily ba- 왍 there is no danger of the sales force
sis a rate of interest calculated each day leaving it is not likely that the sales force
and added to the principal will leave 왍 in danger of which may eas-
daily consumption /deli kən
daily consumption
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ily happen 쑗 The company is in danger of
smpʃən/ noun an amount used each being taken over. 쑗 She is in danger of be-
day ing made redundant.
danger money /dend$ə mni/
danger money
daily sales returns /deli selz r

daily sales returns
t&nz/ plural noun reports of sales made noun extra money paid to employees in
each day dangerous jobs 쑗 The workforce has
damage /dmd$/ noun harm done to
damage
stopped work and asked for danger mon-
things 왍 fire damage damage caused by a ey. 쑗 He decided to go to work on an oil
fire 왍 storm damage damage caused by a rig because of the danger money offered
storm 왍 to suffer damage to be harmed 쑗 as an incentive.
dangerous /dend$ərəs/ adjective
dangerous
We are trying to assess the damage which

the shipment suffered in transit. 왍 to which can be harmful 왍 dangerous job a
cause damage to harm something 쑗 The job where the workers may be hurt or
fire caused damage estimated at killed
data /detə/ noun information available
data
£100,000. 쐽 verb to harm 쑗 the storm

damaged the cargo 쑗 They are holding a on computer, e.g. letters or figures 쑗 All
sale of stock which has been damaged by important data on employees was fed into
water. the computer. 쑗 To calculate the weekly
damaged /dmd$d/ adjective which wages, you need data on hours worked
damaged
has suffered damage or which has been and rates of pay. (NOTE: takes a singular
harmed 쑗 goods damaged in transit or plural verb)
damages /dmd$z/ plural noun data acquisition /detə kw
data acquisition
damages
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money claimed as compensation for harm zʃ(ə)n/ noun the act of gathering infor-
done 쑗 to claim £1000 in damages 쑗 to be mation about a subject
liable for damages 쑗 to pay £25,000 in data bank /detə bŋk/ noun a store
data bank
damages 왍 to bring an action for dam- of information in a computer

ages against someone to take someone to database /detəbes/ noun a set of
database
court and claim damages data stored in an organised way in a com-

damage survey /dmd$ s&ve/ puter system 쑗 We can extract the lists of
damage survey
noun a report on the amount of damage potential customers from our database.
done data capture /detə kptʃə/, data
data capture
damp down phrasal verb to reduce 쑗 entry /detə entri/ noun the act of
to damp down demand for domestic putting information onto a computer by
consumption of oil keyboarding or by scanning
D & B abbr Dun & Bradstreet data cartridge /detə kɑtrd$/
D & B
data cartridge
danger /dend$ə/ noun 1. the possibil-

danger
noun a stiff box with magnetic tape in-

ity of being harmed or killed 쑗 The old side, used for recording data from a com-
103 day release

puter 쑗 Copy the information from the date coding /det kəυdŋ/ noun the
date coding
computer onto a cartridge. act of showing the date by which a prod-

data mining /detə manŋ/ noun the uct should be consumed
data mining
dated /detd/ adjective 1. with a date

dated
use of advanced software to search online

databases and identify statistical patterns written on it 쑗 Thank you for your letter
or relationships in the data that may be dated June 15th. 2. out-of-date 쑗 The un-
commercially useful ions have criticised management for its
data processing /detə prəυsesŋ/
data processing
dated ideas.
date of bill /det əv bl/ noun a date
date of bill
noun the act of selecting and examining

data in a computer to produce information when a bill will mature
in a special form date of maturity / det əv mə
date of maturity
data protection /detə prətekʃən/

data protection
|
tjυərti/ noun same as maturity date
date stamp /det stmp/ noun a
date stamp
noun making sure that computerised in-

formation about people is not misused stamp with rubber figures which can be
data retrieval /detə rtriv(ə)l/
data retrieval
|
moved, used for marking the date on doc-
noun the act of getting information from uments
dawn raid /dɔn red/ noun a sudden
dawn raid
the data stored in a computer

data transfer /detə trnsf&/ noun
data transfer
|
planned purchase of a large number of a
1. the action or process of moving data
company’s shares at the beginning of a
day’s trading (NOTE: Up to 15% of a com-
from one location to another, e.g. of pany’s shares may be bought in this
downloading data from a website onto a way, and the purchaser must wait for
computer 2. the amount of data down- seven days before purchasing any more
loaded from a website (NOTE: This infor- shares. Sometimes a dawn raid is the
mation can be useful as a way measur- first step towards a takeover of the target
ing the number of visitors a website re- company.)
ceives.)
day /de/ noun 1. a period of 24 hours 쑗
day
data warehouse /detə weəhaυs/

data warehouse
There are thirty days in June. 쑗 The first

noun a large collection data that is col- day of the month is a public holiday. 왍
lected over a period of time from different days of grace the time given to a debtor
sources and stored on a computer in a to repay a loan, to pay the amount pur-
standard format so that is easy to retrieve. chased using a credit card, or to pay an in-
It can be used, e.g., to support managerial surance premium 쑗 Let’s send the cheque
decision-making. (NOTE: Organisations at once since we have only five days of
often use data warehouses for market- grace left. 쑗 Because the shopowner has
ing purposes, for example, in order to so little cash available, we will have to al-
store and analyse customer informa- low him additional days of grace. 2. a pe-
tion.) riod of work from morning to night 왍 she
date /det/ noun 1. the number of the
date
works three days on, two days off she
works for three days, then has two days’
day, month and year 쑗 I have received
holiday 왍 to work an eight-hour day to
your letter of yesterday’s date. 왍 date of spend eight hours at work each day 3. one
receipt the date when something is re- of the days of the week
ceived 2. 왍 to date up to now 왍 interest
day book / de bυk/ noun a book with
day book
to date interest up to the present time 3. 왍

up to date current, recent or modern 쑗 an an account of sales and purchases made
up-to-date computer system 4. 왍 out of each day
day in the sun /de n ðə sn/ noun
day in the sun
date old-fashioned, no longer modern 쑗

Their computer system is years out of the period of time during which a product
date. 쑗 They are still using out-of-date is in demand and sells well in the market-
machinery. 쐽 verb to put a date on a doc- place (informal)
ument 쑗 The cheque was dated March day release /de rlis/ noun an ar-
day release
24th. 쑗 You forgot to date the cheque. 왍 to rangement where a company allows an
date a cheque forward to put a later date employee to go to college to study for one
than the present one on a cheque or two days each week 쑗 The junior sales
day shift 104

manager is attending a day release ing at a point where no agreement was
course. possible 쐽 verb to be unable to agree to
day shift /de ʃft/ noun a shift worked
day shift
continue negotiations 왍 talks have been
during the daylight hours deadlocked for ten days after ten days
day-to-day /de tə de/ adjective or-
day-to-day
the talks have not produced any agree-
dinary or going on all the time 쑗 He or- ment
dead loss /ded lɒs/ noun a total loss
dead loss
ganises the day-to-day running of the

company. 쑗 Sales only just cover the day- 쑗 The car was written off as a dead loss.
dead season /ded siz(ə)n/ noun the
dead season
to-day expenses.
day trader /de tredə/ noun a person time of year when there are few tourists
day trader
who buys shares and sells them within the about

same day deadweight /dedwet/ noun heavy
deadweight
day trading /de tredŋ/ noun the goods, e.g. coal, iron or sand
day trading
activity of buying shares and selling them deadweight capacity /dedwet kə

deadweight capacity
within the same day psti/ noun the largest amount of cargo
day worker /de w&kə/ noun a per- which a ship can carry safely
day worker
son who works the day shift deadweight cargo /dedwet

deadweight cargo
DCF abbr discounted cash flow

DCF
kɑ!əυ/ noun a heavy cargo which is

dead /ded/ adjective not working 왍 the charged by weight, not by volume
dead
deadweight tonnage /dedwet

deadweight tonnage
line went dead the telephone line sud-

denly stopped working tnd$/ noun the largest amount of car-
dead account /ded əkaυnt/ noun an go which a ship can carry safely
dead account
dead wood /ded wυd/ noun employ-

dead wood
account which is no longer used

dead capital /ded kpt(ə)l/ noun ees who are old or who do not work well
dead capital
money which is not invested to make a 쑗 The new management team is weeding
profit out the dead wood from the sales depart-
dead-cat bounce /ded kt baυns/
dead-cat bounce
ment.
deal /dil/ noun 1. a business agreement,
deal
noun a slight rise in a share price after a

sharp fall, showing that some investors affair or contract 쑗 The sales director set
are still interested in buying the share at up a deal with a Russian bank. 쑗 The deal
the lower price, although further sharp will be signed tomorrow. 쑗 They did a
falls will follow deal with an American airline. 왍 to call
dead end /ded end/ noun a point
dead end
off a deal to stop an agreement 쑗 When
where you cannot go any further forward the chairman heard about the deal he
쑗 Negotiations have reached a dead end.
called it off. 2. 왍 a great deal, a good
deal of something a large quantity of
dead end job /ded end d$ɒb/ noun a
dead end job
something 쑗 He has made a good deal of

job where there are no chances of promo- money on the stock market. 쑗 The compa-
tion ny lost a great deal of time asking for ex-
dead freight /ded fret/ noun pay-
dead freight
pert advice. 쑗 Leave it to the personnel

ment by a charterer for unfilled space in a department – they’ll deal with it. 쐽 verb
ship or plane 쑗 Too much dead freight is 1. 왍 to deal with to organise something 쑗
making it impossible for the company to Leave it to the filing clerk – he’ll deal with
continue to charter ships. it. 왍 to deal with an order to work to
deadline /dedlan/ noun the date by supply an order 2. to buy and sell 왍 to
deadline
which something has to be done 왍 to deal with someone to do business with

meet a deadline to finish something in someone 왍 to deal in leather or options
time 왍 to miss a deadline to finish some- to buy and sell leather or options 왍 he
thing later than it was planned 쑗 We’ve deals on the Stock Exchange his work
missed our October 1st deadline. involves buying and selling shares on the
deadlock /dedlɒk/ noun a point where Stock Exchange for clients
deadlock
two sides in a dispute cannot agree 쑗 The dealer /dilə/ noun 1. a person who
dealer
negotiations have reached deadlock or a buys and sells 쑗 a used-car dealer 2. a

deadlock. 왍 to break a deadlock to find person or firm that buys or sells on their
a way to start discussions again after be- own account, not on behalf of clients
105 debit note

dealing /dilŋ / noun 1. the business of by rewarding the best and penalising the
dealing
buying and selling on the Stock Ex- worst

change, commodity markets or currency debenture /dbentʃə/ noun agree-
debenture
markets 2. the business of buying and ment to repay a debt with fixed interest
selling goods 왍 to have dealings with using the company’s assets as security 쑗
someone to do business with someone The bank holds a debenture on the com-
dealing floor /dilŋ flɔ/ noun 1. an pany.
dealing floor
area of a broking house where dealing in COMMENT: In the UK, debentures are al-
ways secured on the company’s assets.
securities is carried out by phone, using In the USA, debenture bonds are not se-
monitors to display current prices and cured.
stock exchange transactions 2. a part of a debenture
debenture capital
capital /dbentʃə
|
stock exchange where dealers trade in se- kpt(ə)l/ noun a capital borrowed by a
curities company, using its fixed assets as security
dear /də/ adjective 1. expensive, cost-
dear
debenture holder /dbentʃə

debenture holder
ing a lot of money 쑗 Property is very dear həυldə/ noun a person who holds a de-
in this area. 2. way of starting a letter by benture for money lent
addressing someone 왍 Dear Sir, Dear debenture issue /dbentʃə ʃu/
debenture issue
Madam addressing a man or woman |
noun the activity of borrowing money

whom you do not know, or addressing a against the security of the company’s as-
company 왍 Dear Sirs addressing a com-
pany 왍 Dear Mr Smith, Dear Mrs sets
debenture register /dbentʃə
debenture register
Smith, Dear Miss Smith addressing a |
man or woman whom you know 왍 Dear red$stə/ noun a list of debenture hold-
James, Dear Julia addressing a friend or ers of a company
debenture stock /dbentʃə stɒk/
debenture stock
a person you do business with often |
COMMENT: First names are commonly noun a capital borrowed by a company,

used between business people in the using its fixed assets as security
UK; they are less often used in other Eu- debit /debt/ noun an amount entered
debit
ropean countries (France and Germa-

ny), for example, where business letters in accounts which shows an increase in
tend to be more formal. assets or expenses or a decrease in liabil-
dear money /də mni/ noun money
dear money
ities, revenue or capital. In accounts, deb-
which has to be borrowed at a high inter- its are entered in the left-hand column.
est rate, and so restricts expenditure by Compare credit 쐽 verb 왍 to debit an ac-
companies. Also called tight money count to charge an account with a cost 쑗
His account was debited with the sum of
death benefit / deθ benft/ noun in-
death benefit
£25.
surance benefit paid to the family of debitable /debtəb(ə)l/ adjective able
debitable
someone who dies in an accident at work to be debited

death by committee /deθ ba kə
death by committee
debit balance /debt bləns/ noun a

debit balance
|
mti/ noun the prevention of serious con- balance in an account showing that more
sideration of a proposal by assigning a money is owed than has been received 쑗
committee to look at it Because of large payments to suppliers,
death duty /deθ djuti/ noun US a
death duty
the account has a debit balance of £1,000.

tax paid on the property left by a dead per- debit card /debt kɑd/ noun a plastic
debit card
son. Also called death tax (NOTE: The card, similar to a credit card, but which
UK term is inheritance tax.) debits the holder’s account immediately
death in service /deθ n s&vs/
death in service
through an EPOS system

noun an insurance benefit or pension paid debit column /debt kɒləm/ noun
debit column
when someone dies while employed by a the left-hand column in accounts showing
company the money paid or owed to others
death tax /deθ tks/ noun same as debit entry /debt entri/ noun an en-
death tax
debit entry
death duty try on the debit side of an account

deaveraging / div(ə)rd$ŋ/ noun debit note /debt nəυt/ noun a note
deaveraging debit note
the act of treating customers in different showing that a customer owes money 쑗
ways according to the amount they buy, We undercharged Mr Smith and had to
debits and credits 106

send him a debit note for the extra company is unable to pay its debts and
amount. may involve postponing debt payments,
debits and credits /debts ən postponing payment of interest, or nego-
debits and credits
kredts/ plural noun money which a tiating a new loan.

debt-service ratio /det s&vs
debt-service ratio
company owes and money it receives, or

figures which are entered in the accounts reʃiəυ/ noun the debts of a company
to record increases or decreases in assets, shown as a percentage of its equity
expenses, liabilities, revenue or capital debt servicing / det s&vsŋ/ noun
debt servicing
debit side / debt sad/ noun a left- the payment of interest on a debt
debit side
hand column of accounts showing money debug /dib!/ verb to remove errors
debug
owed or paid to others from a computer program (NOTE: debug-

debt /det/ noun money owed for goods
debt
ging – debugged)
or services 쑗 The company stopped trad- deceit /dsit/, deception /dsepʃən/
deceit
ing with debts of over £1 million. 왍 to be

| |
noun making a wrong statement to some-

in debt to owe money 왍 he is in debt to one in order to trick him into paying mon-
the tune of £250,000 he owes £250,000 왍 ey 쑗 he obtained £10,000 by deception
to get into debt to start to borrow more decentralisation
decentralisation
/disentrəla
money than you can pay back 왍 the com-
| |
zeʃ(ə)n/, decentralization noun an or-

pany is out of debt the company does not ganisation from various points, with little
owe money any more 왍 to pay back a power concentrated at the centre 쑗 The
debt to pay all the money owed 왍 to pay decentralisation of the buying depart-
off a debt to finish paying money owed 왍 ments.
to service a debt to pay interest on a debt
decentralise /disentrəlaz/, decen-
decentralise
쑗 The company is having problems in

|
tralize verb to organise from various

servicing its debts. 왍 debts due money points, with little power concentrated at
owed which is due for repayment
the centre 쑗 Formerly, the bank was de-
debt collection / det kəlekʃən/ noun
debt collection
|
centralised, with many decisions being
the act of collecting money which is owed taken by branch managers. 쑗 Since the
debt collection agency /det kə
debt collection agency
| company was decentralised, its head-

lekʃən ed$ənsi/ noun a company quarters have moved to a tiny office. 쑗
which collects debts for other companies The group has a policy of decentralised
for a commission purchasing where each division has its
debt collector /det kəlektə/ noun a own buying department.
debt collector
person who collects debts decide /dsad/ verb to make up your

decide
debt counselling /det kaυnsəlŋ/ mind to do something 쑗 to decide on a

debt counselling
noun the work of advising people who are course of action 쑗 to decide to appoint a
in debt of the best ways to arrange their fi- new managing director
nances so as to pay off their debts decider /dsadə/ noun a person who
decider
debtor /detə/ noun a person who owes makes decisions, especially the person
debtor
money who makes the decision to buy

debtor nation /detə neʃ(ə)n/ noun deciding factor /dsadŋ fktə/
debtor nation deciding factor
a country whose foreign debts are larger noun the most important factor which in-
than money owed to it by other countries fluences a decision 쑗 A deciding factor in
‘…the United States is now a debtor na- marketing our range of sports goods in
tion for the first time since 1914, owing the country was the rising standard of liv-
more to foreigners than it is owed itself’ ing there.
[Economist] decile / desal/ noun one of a series of
decile
debtors /detəz/ noun all money owed

debtors
nine figures below which one tenth or

to a company as shown in the accounts several tenths of the total fall
debtor side /detə sad/ noun the debit decimal /desm(ə)l/ noun 왍 correct to
debtor side decimal
side of an account three places of decimals correct to three

debt rescheduling /det ri figures after the decimal point (e.g. 3.485)
debt rescheduling
ʃedjulŋ/ noun the process of reorgan- decimalisation /desm(ə)la

decimalisation
ising the way in which debts are repaid. zeʃ(ə)n/, decimalization noun the
Debt rescheduling may be necessary if a process of changing to a decimal system
107 decontrol
decimalise /desm(ə)laz/, decimal- declaration of income
decimalise declaration of income
ize verb to change something to a deci- /dekləreʃ(ə)n əv nkm/ noun same

mal system as income tax return
decimal point /desm(ə)l pɔnt/ declare /dkleə/ verb to make an offi-
decimal point declare
noun a dot which indicates the division cial statement of something, or announce
between the whole unit and its smaller something to the public 쑗 to declare
parts, e.g. 4.75 someone bankrupt 쑗 The company de-
COMMENT: The decimal point is used in clared an interim dividend of 10p per
the UK and USA. In most European share. 왍 to declare goods to customs to
countries a comma is used to indicate a state that you are importing goods which
decimal, so 4,75% in Germany means are liable to duty 쑗 Customs officials
4.75% in the UK
asked him if he had anything to declare. 왍
decimal system /desm(ə)l sstəm/
decimal system
to declare an interest to state in public

noun a system of mathematics based on that you own shares in a company being
the number 10 discussed or that you are related to some-
decision /ds$(ə)n/ noun a choice
decision
|
one who can benefit from your contacts
made after thinking about what to do 쑗 It declared /dkleəd/ adjective having
declared
took the committee some time to come to been made public or officially stated
a decision or to reach a decision.
declared value /dkleəd vlju/
declared value
decision-maker /ds$(ə)n mekə/

decision-maker |
|
noun the value of goods entered on a cus-
noun a person who takes decisions toms declaration
decision-making / ds$(ə)n
decision-making
decline /dklan/ noun 1. a gradual fall

decline
|
mekŋ/ noun the act of coming to a de-

|
쑗 the decline in the value of the dollar 쑗

cision a decline in buying power 쑗 The last year
decision-making unit /ds$(ə)n
decision-making unit
|
has seen a decline in real wages. 2. the fi-
mekŋ junt/ noun a group of people nal stage in the life cycle of a product
who decide on the purchase of a product. when the sales and profitability are falling
For the purchase of a new piece of equip- off and the product is no longer worth in-
ment, they would be the manager, the fi- vesting in 쐽 verb to fall slowly or de-
nancial controller and the operator who crease 쑗 Shares declined in a weak mar-
will use the equipment. Abbreviation ket. 쑗 New job applications have declined
DMU over the last year. 쑗 The economy de-
decision support system /d clined during the last government. 쑗 The
decision support system
s$(ə)n səpɔt sstəm/ noun a system

| purchasing power of the pound declined
containing information in a form that is over the decade.
designed to assist people in making deci- ‘Saudi oil production has declined by three
sions. Abbreviation DSS quarters to around 2.5m barrels a day’
decision tree /ds$(ə)n tri/ noun a
decision tree
|
[Economist]
model for decision-making, showing the ‘…this gives an average monthly decline
possible outcomes of different decisions of 2.15 per cent during the period’
쑗 This computer programme incorpo- [Business Times (Lagos)]
rates a decision tree. ‘…share prices disclosed a weak tendency
right from the onset of business and de-
decisive / dsasv/ adjective referring
decisive
|
clined further, showing losses over a broad
to a person who makes up their mind or front’ [The Hindu]
who comes to a decision. Opposite inde- deconstruction /dikənstrkʃ(ə)n/
deconstruction
cisive
noun the process of reorganising tradi-
deck cargo /dek kɑ!əυ/ noun the
deck cargo
tional business structures, often by break-

cargo carried on the open top deck of a ing them up into smaller units, when they
ship no longer fit the requirements of the mod-
declaration /dekləreʃ(ə)n/ noun an
declaration
| ern economy
official statement decontrol /dikəntrəυl/ verb to stop
decontrol
declaration of bankruptcy controls 왍 to decontrol the price of pet-

declaration of bankruptcy
/dekləreʃ(ə)n əv bŋkrptsi/ noun rol to stop controlling the price of petrol

an official statement that someone is so that it can be priced freely by the mar-
bankrupt ket
decrease 108
decrease noun /dikris/ a fall or re- rangement may have tax advantages. For
decrease
duction 쑗 The decrease in the prices of example, in the United Kingdom, it is of-
consumer goods is reflected in the fall in ten used for making regular payments to a
the cost of living. 쑗 Exports have regis- charity.
tered a decrease. 쑗 Sales show a 10% de- deed of partnership /did əv
deed of partnership
crease on last year. 쐽 verb /dkris/ to |

pɑtnəʃp/ noun agreement which sets
fall or to become less 쑗 Imports are de- up a partnership
creasing. 쑗 The value of the pound has
deed of transfer /did əv trnsf&/
deed of transfer
decreased by 5%.
noun a document which transfers the
decreasing /dkrisŋ/ adjective
decreasing
|
ownership of shares
which is falling 쑗 the decreasing influ-
deep discount / dip dskaυnt/ noun
deep discount
ence of the finance director

a very large discount
deduct /ddkt/ verb to take money
deduct
away from a total 쑗 to deduct £3 from the ‘…when it needed to make its financial re-
price 쑗 to deduct a sum for expenses 쑗 sults look good, it shipped a lot of invento-
After deducting costs the gross margin is ry. It did this by offering deep discounts to
distributors’ [Forbes]
only 23%. 쑗 Expenses are still to be de-
de facto standard /de fktəυ
de facto standard
ducted.
deductible /ddktb(ə)l/ adjective
deductible
|
stndəd/ noun a standard that is set by
possible to deduct a product or service that is very successful
in a particular market
deductible expenses /ddktb(ə)l
deductible expenses
defalcation /diflkeʃ(ə)n/ noun an

| defalcation
kspensz/ plural noun expenses which

|
|
can be deducted against tax illegal use of money by someone who is

deduction /ddkʃən/ noun the re-
deduction
not the owner but who has been trusted to
look after it
|
moving of money from a total, or the

default /dfɔlt/ noun 1. a failure to
default
amount of money removed from a total 쑗 |
Net salary is salary after deduction of tax carry out the terms of a contract, especial-
and social security. 쑗 The deduction from ly failure to pay back a debt 왍 in default
her wages represented the cost of repair- of payment with no payment made 왍 the
ing the damage she had caused to the ma- company is in default the company has
chinery. 왍 deductions from salary or failed to carry out the terms of the con-
salary deductions or deductions at tract 2. 왍 by default because no one else
source money which a company removes will act 왍 he was elected by default he
from salaries to give to the government as was elected because all the other candi-
tax, national insurance contributions, etc. dates withdrew 쐽 verb to fail to carry out
deduction at source /ddkʃən ət
deduction at source
|
the terms of a contract, especially to fail
sɔs/ noun (in the UK) a system of col- to pay back a debt 쑗 There was a major fi-
lecting taxes in which the organisation or nancial crisis when the bank defaulted. 왍
individual that pays somebody an in- to default on payments not to make pay-
come, e.g. an employer paying wages, a ments which are due under the terms of a
bank paying interest or a company paying contract
defaulter /dfɔltə/ noun a person who
defaulter
dividends, is responsible for deducting |
and paying tax, not the person who re- defaults

ceives the income defeat /dfit/ noun the loss of a vote 쑗
defeat
deed /did/ noun a legal document or

deed
The chairman offered to resign after the

written agreement defeat of the proposal at the AGM. 쐽 verb
deed of assignment /did əv ə to beat someone or something in a vote 쑗
deed of assignment
sanmənt/ noun a document which le- The proposal was defeated by 10 votes to
gally transfers a property from a debtor to 23. 쑗 He was heavily defeated in the bal-
a creditor lot for union president.
deed of covenant /did əv defect /difekt/ noun something which
deed of covenant defect
kvənənt/ noun a legal document in is wrong or which stops a machine from

which a person or organisation promises working properly 쑗 a computer defect or
to pay a third party a sum of money on an a defect in the computer seems to be the
annual basis. In certain countries this ar- cause of the problem
109 delay
defective /dfektv/ adjective 1. thing, e.g. a sum of money, is less than it
defective
faulty, not working properly 쑗 The ma- should be 쑗 There is a £10 deficiency in
chine broke down because of a defective the petty cash. 왍 to make up a deficiency
cooling system. 2. not legally valid 쑗 His to put money into an account to balance it
title to the property is defective. deficit /defst/ noun the amount by
deficit
defence /dfens/ noun the act of fight- which spending is higher than income 왍
defence
ing a lawsuit on behalf of a defendant the accounts show a deficit the accounts
(NOTE: The US spelling is defense.) show a loss 왍 to make good a deficit to
defence counsel /dfens kaυnsəl/ put money into an account to balance it
defence counsel
deficit financing / defst

deficit financing
noun a lawyer who represents the defend-

ant in a lawsuit fannsŋ/ noun a type of financial
defend /dfend/ verb to fight to protect planning by a government in which it bor-
defend
someone or something that is being at- rows money to cover the difference be-
tacked 쑗 The company is defending itself tween its tax income and its expenditure
deflate /diflet/ verb 왍 to deflate the
deflate
against the takeover bid. 쑗 They hired the |
best lawyers to defend them against the economy to reduce activity in the econo-
tax authorities. 왍 to defend a lawsuit to my by cutting the supply of money
appear in court to state your case when deflation /difleʃ(ə)n/ noun a general
deflation
accused of something reduction in economic activity as a result

defendant /dfendənt/ noun a person of a reduced supply of money and credit,
defendant
against whom a legal action is taken or leading to lower prices 쑗 The oil crisis re-
who is accused of doing something to sulted in worldwide deflation. Opposite
harm someone (NOTE: The other side in a inflation
case is the claimant.) ‘…the reluctance of people to spend is one
defer /df&/ verb to put back to a later of the main reasons behind 26 consecutive
defer
date, to postpone 쑗 We will have to defer months of price deflation, a key economic
payment until January. 쑗 The decision ill that has led to price wars, depressed the
has been deferred until the next meeting. profit margins of state enterprises and hit
(NOTE: deferring – deferred) incomes among the rural population’
[Financial Times]
deferment /df&mənt/ noun the act
deferment
deflationary /difleʃ(ə)n(ə)ri/ adjec-

| deflationary
of leaving until a later date 쑗 deferment of |
tive causing deflation 쑗 The government

payment 쑗 deferment of a decision
has introduced some deflationary meas-
deferral /df&rəl/ noun a postpone-
deferral
|
ures in the budget.
ment, a putting back to a later date 쑗 tax ‘…the strong dollar’s deflationary impact
deferral on European economies as national gov-
deferred /df&d/ adjective put back to
deferred
|
ernments push up interest rates’ [Duns
a later date Business Month]
deferred creditor /df&d kredtə/ defraud /dfrɔd/ verb to cheat some-
deferred creditor
defraud
|
|
noun a person who is owed money by a one to get money (NOTE: You defraud
bankrupt but who is paid only after all someone of something.)
other creditors defray /dfre/ verb to provide money
defray
deferred payment /df&d

deferred payment
|
to pay costs 쑗 The company agreed to de-
pemənt/ noun 1. money paid later than fray the costs of the exhibition.
the agreed date 2. payment for goods by degearing /di!ərŋ/ noun a reduc-
degearing
instalments over a long period tion in gearing, reducing a company’s

deferred rebate / df&d ribet/
deferred rebate
|
loan capital in relation to the value of its
noun a discount given to a customer who ordinary shares
buys up to a specified quantity over a delay /dle/ noun the time when some-
delay
specified period one or something is later than planned 쑗

deferred shares /df&d ʃeəz/, de-
deferred shares
|
There was a delay of thirty minutes before
ferred stock /df&d stɒk/ noun shares |
the AGM started or the AGM started after
which receive a dividend only after all a thirty-minute delay. 쑗 We are sorry for
other dividends have been paid the delay in supplying your order or in re-
deficiency / dfʃ(ə)nsi/ noun a lack of plying to your letter. 쐽 verb to make
deficiency
something, or the amount by which some- someone or something late 쑗 The compa-
delayering 110
ny has delayed payment of all invoices. 쑗 2. a consignment of goods being deliv-
She was delayed because her taxi was in- ered 쑗 We take in three deliveries a day. 쑗
volved in an accident. There were four items missing in the last
delayering /dileərŋ/ noun the proc- delivery. 3. the transport of a commodity
delayering
ess of making the structure of an organi- to a purchaser 4. the transfer of a bill of

sation simpler and therefore more effi- exchange or other negotiable instrument
cient to the bank which is due to make payment
delivery note /dlv(ə)ri nəυt/ noun a
delivery note
del credere agent /del kredər

del credere agent
|
ed$ənt/ noun an agent who receives a list of goods being delivered, given to the
high commission because he or she guar- customer with the goods
delivery of goods /dlv(ə)ri əv
delivery of goods
antees payment by customers |
delegate noun /del!ət/ a person who

delegate
!υdz/ noun the transport of goods to a
represents others at a meeting 쑗 The man- customer’s address
delivery order /dlv(ə)ri ɔdə/ noun
delivery order
agement refused to meet the trade union |
delegates. 쐽 verb /delə!et/ to pass au- |

the instructions given by the customer to
thority or responsibility to someone else the person holding her goods, to tell her
쑗 to delegate authority 왍 she cannot del- where and when to deliver them
delivery service /dlv(ə)ri s&vs/
delivery service
egate she wants to control everything her- |
self and refuses to give up any of her re- noun a transport service organised by a
sponsibilities to her subordinates supplier or a shop to take goods to cus-
delegation /del!eʃ(ə)n/ noun 1. a
delegation
tomers
delivery time /dlv(ə)ri tam/ noun
|
delivery time
group of delegates 쑗 A Chinese trade del- |
egation is visiting the UK 쑗 The manage- the number of days before something will
ment met a union delegation. 2. an act of be delivered
delivery van /dlv(ə)ri vn/ noun a
delivery van
passing authority or responsibility to |
someone else van for delivering goods to customers

delete /dlit/ verb 1. to cut out words demand /dmɑnd/ noun 1. an act of
demand
delete
|
asking for payment 왍 payable on de-

|
in a document 쑗 They want to delete all

references to credit terms from the con- mand which must be paid when payment
tract. 쑗 The lawyers have deleted clause is asked for 2. an act of asking for some-
two. 2. to remove a product from a com- thing and insisting on getting it 쑗 The
pany’s product range 쑗 We have decided management refused to give in to union
to delete three old products as the new demands for a meeting. 쐽 verb 1. the need
ones are coming on stream. that customers have for a product or their
deliver /dlvə/ verb to transport goods
deliver
eagerness to buy it 쑗 There was an active
demand for oil shares on the stock mar-
|
to a customer 왍 goods delivered free or

free delivered goods goods transported ket. 쑗 The factory had to cut production
to the customer’s address at a price which when demand slackened. 쑗 The office
includes transport costs 왍 goods deliv- cleaning company cannot keep up with
ered on board goods transported free to the demand for its services. 왍 there is not
much demand for this item not many
the ship or plane but not to the customer’s
warehouse people want to buy it 왍 this book is in
great demand or there is a great de-
delivered price /dlvəd pras/ noun
delivered price
|
mand for this book many people want to
a price which includes packing and trans- buy it 왍 to meet or fill a demand to sup-
port ply what is needed 쑗 The factory had to
delivery /dlv(ə)ri/ noun 1. the trans-
delivery
| increase production to meet the extra de-

porting of goods to a customer 쑗 allow 28 mand. 2. to ask for something and expect
days for delivery 쑗 parcels awaiting de- to get it 쑗 She demanded a refund. 쑗 The
livery 쑗 free delivery or delivery free 쑗 a suppliers are demanding immediate pay-
delivery date 쑗 Delivery is not allowed ment of their outstanding invoices. 쑗 The
for or is not included. 쑗 We have a pallet shop stewards demanded an urgent meet-
of parcels awaiting delivery. 왍 to take de- ing with the managing director.
livery of goods to accept goods when ‘…spot prices are now relatively stable in
they are delivered 쑗 We took delivery of the run-up to the winter’s peak demand’
the stock into our warehouse on the 25th. [Economist]
111 demotion
‘…the demand for the company’s prod- sion-making processes. Opposite auto-
ucts remained strong throughout the first cratic management style
six months of the year with production and
demographic /demə!rfk/ adjec-
demographic
sales showing significant increases’ |
[Business Times (Lagos)] tive referring to demography or demo-

graphics 쑗 A full demographic study of
‘…growth in demand is still coming from
the private rather than the public sector’ the country must be done before we de-
[Lloyd’s List] cide how to export there.
demographics /demə!rfks/ plural
demographics
demand bill /dmɑnd bl/ noun a bill

demand bill
|
|
of exchange which must be paid when noun the details of the population of a
payment is asked for country, in particular its size, density, dis-
demand deposit /dmɑnd dpɒzt/
demand deposit
| |
tribution and the birth, death and marriage
noun US money in a deposit account rates, which affect marketing (NOTE:
which can be taken out when you want it takes a singular verb)
demography /dmɒ!rəfi/ noun the
demography
by writing a cheque |
demand-led inflation /dmɑnd led study of populations and population sta-

demand-led inflation
nfleʃ(ə)n/, demand-pull inflation /d

| |
tistics such as size, density, distribution
mɑnd pυl nfleʃ(ə)n/ noun inflation |
and birth, death and marriage rates
caused by rising demand which cannot be /dimnta
demonetisation
demonetisation | |
met zeʃ(ə)n/, demonetization noun the act

demand price /dmɑnd pras/ noun of stopping a coin or note being used as
demand price
the price at which a quantity of goods will money

be bought demonetise /dimntaz/, demone-
demonetise
demarcation /dimɑkeʃ(ə)n/ noun

demarcation
| tize verb to stop a coin or note being used

a clear definition of the responsibilities of as money
each employee or category of employ- demonstrate /demənstret/ verb to
demonstrate
ment 쑗 The union insisted on clear de- show how something works 쑗 He was
marcation when tasks were assigned to demonstrating a new tractor when he was
different workers. 쑗 Demarcation ensures killed. 쑗 The managers saw the new
that no one does work which is not de- stock-control system being demonstrated.
fined in their job description.
demonstration /demənstreʃ(ə)n/
demonstration
demarcation dispute /dimɑ

demarcation dispute
|
|
keʃən dspjut/ noun an argument be- noun an act of showing or explaining how
something works 쑗 We went to a demon-
|
tween different trade unions over who

shall do different parts of a job 쑗 Produc- stration of new laser equipment.
demonstration model /demən
demonstration model
tion of the new car was held up by demar- |
cation disputes. streʃ(ə)n mɒd(ə)l/ noun a piece of

demassifying /dimsfaŋ/ noun
demassifying
|
equipment used in demonstrations and
the process of changing a mass medium later sold off cheaply
demonstrator /demənstretə/ noun
demonstrator
into one that is customised to fit the needs

of individual consumers 1. a person who demonstrates pieces of
demerge /dim&d$/ verb to separate a equipment 2. same as demonstration
demerge
company into several separate parts model

demerger /dim&d$ə/ noun the sepa- demote /dməυt/ verb to give someone
demerger demote
| |
ration of a company into several separate a less important job or to reduce an em-
parts, especially used of companies which ployee to a lower rank or grade 쑗 He was
have grown by acquisition demoted from manager to salesman. 쑗
demise /dmaz/ noun 1. a death 쑗 On Her salary was reduced when she was de-
demise
his demise the estate passed to his daugh- moted.

ter. 2. the act of granting a property on a demotion /dməυʃən/ noun the act of
demotion
lease reducing an employee to a lower rank or

democratic management style giving someone a less important job 쑗
democratic management style
/deməkrtk mnd$mənt stal/ Demotion would mean a considerable

noun a management style in which the drop in income. 쑗 Demotion ended his
managers involve the employees in deci- dreams of becoming managing director.
demurrage 112
demurrage /dmrd$/ noun money former British government department
demurrage
paid to a customer when a shipment is de- dealing with employers, employees,

layed at a port or by customs training, etc. Abbreviation DoE
demutualise /dimjutjuəlaz/, de-
Department of Trade and Industry
Department of Trade and Indus-

demutualise
mutualize /dimjutʃuə laz/ verb to | | try /dpɑtmənt əv tred ənd

|
stop having mutual status, by becoming a ndəstri/ noun a British government de-
Plc and selling shares to the general pub- partment which deals with areas such as
lic on the stock market commerce, international trade and the
denationalization /dinʃ(ə)nəla stock exchange. Abbreviation DTI
denationalization
zeʃ(ə)n/ noun the act of denationalizing department store /dpɑtmənt stɔ/

department store
쑗 The denationalization of the aircraft in- noun a large store with separate sections
dustry. for different types of goods
denationalize /dinʃənəlaz/ verb departure /dpɑtʃə/ noun 1. the act
denationalize
departure
|
|
to put a nationalized industry back into of going away 쑗 The plane’s departure
private ownership 쑗 The government has was delayed by two hours. 2. a new ven-
plans to denationalize the steel industry. ture or new type of business 쑗 Selling
denial of service attack /dnaəl əv
denial of service attack
| records will be a departure for the local

s&vs ətk/ noun an attack by a com-
| bookshop. 3. 왍 departure from normal
puter hacker or computer virus in which a practice an act of doing something in a
very large number of messages are sent to different way from the usual one
a website in a very short time in order to departures /dpɑtʃəz/ noun a part of
departures
overload it, so that it stops operating and an airport terminal which deals with pas-
is unavailable to other users sengers who are leaving
denomination /dnɒmneʃ(ə)n/
denomination
depend /dpend/ verb 1. 왍 to depend

depend
| |
|
noun a unit of money on a coin, banknote on to need someone or something to exist

or stamp 쑗 We collect coins of all denom- 쑗 The company depends on efficient serv-
inations for charity. 쑗 Small denomina- ice from its suppliers. 쑗 We depend on
tion notes are not often counterfeited. government grants to pay the salary bill.
depart /dpɑt/ verb 1. to leave 쑗 The
depart
|
2. to happen because of something 쑗 The
plane departs from Paris at 11.15. 2. 왍 to success of the launch will depend on the
depart from normal practice to act in a publicity campaign. 왍 depending on
different way from the normal way of do- which varies according to something 쑗
ing things Depending on the circumstances, she may
department /dpɑtmənt/ noun 1. a be reprimanded or have the money
department
specialised section of a large organisation docked from her pay.

쑗 Trainee managers work for a while in deploy /dplɔ/ verb to send staff to a
deploy
each department to get an idea of the or- certain place to carry out a certain job
ganisation as a whole. 2. a section of a deposit /dpɒzt/ noun 1. money
deposit
large store selling one type of product 쑗

|
placed in a bank for safe keeping or to

You will find beds in the furniture depart- earn interest 왍 deposit at 7 days’ notice
ment. 3. a section of the British govern- money deposited which you can with-
ment containing several ministries draw by giving seven days’ notice 2.
departmental / dipɑtment(ə)l/ ad-
departmental
|
money given in advance so that the thing
jective referring to a department which you want to buy will not be sold to
departmental manager
departmental manager
someone else 쑗 to pay a deposit on a

/dipɑtment(ə)l mnd$ə/ noun the watch 쑗 to leave £10 as deposit 쐽 verb 1.
manager of a department to put documents somewhere for safe
Department for Work and Pen-
Department for Work and Pensions
keeping 쑗 to deposit shares with a bank 쑗

sions /dpɑtmənt fə w&k ən | We have deposited the deeds of the house
penʃənz/ noun a British government de- with the bank. 쑗 He deposited his will
partment responsible for services to peo- with his solicitor. 2. to put money into a
ple of working age, pensioners and fami- bank account 쑗 to deposit £100 in a cur-
lies. Abbreviation DWP rent account
Department of Employment /d deposit account /dpɒzt əkaυnt/
Department of Employment deposit account
| | |
pɑtmənt əv mplɔmənt/ noun a | noun a bank account which pays interest

113 derivative instruments

but on which notice has to be given to preciation of 10% over the year 쑗 the de-
withdraw money. Abbreviation D/A preciation of the pound against the dollar
depositary /dpɒztəri/ noun US a 3. a reduction in value, writing down the
depositary
person or corporation which can place capital value of an asset over a period of
money or documents for safekeeping with time in a company’s accounts
depreciation rate /dpriʃieʃ(ə)n
depreciation rate
a depository. 쒁 American Depositary | |
Receipt (NOTE: Do not confuse with de- ret/ noun the rate at which an asset is de-
pository.) preciated each year in the company ac-
depositor /dpɒztə/ noun a person
depositor
|
counts
depress /dpres/ verb to reduce some-
depress
who deposits money in a bank, building |
society, etc. thing 쑗 Reducing the money supply has

depository /dpɒzt(ə)ri/ noun a per-
depository
|
the effect of depressing demand for con-
son or company with whom money or sumer goods.
depressed area /dprest eəriə/
depressed area
documents can be deposited (NOTE: Do |
not confuse with depositary.) noun a part of a country suffering from

deposit slip /dpɒzt slp/ noun a
deposit slip
|
depression
depressed market /dprest
depressed market
piece of paper stamped by the cashier to |
prove that you have paid money into your mɑkt/ noun a market where there are
account more goods than customers
depot /depəυ/ noun 1. a central ware- depression /dpreʃ(ə)n/ noun a peri-
depression
depot
house or storage area for goods, or a place od of economic crisis with high unem-
for keeping vehicles used for transport 쑗 ployment and loss of trade 쑗 The country
a goods depot 쑗 an oil storage depot 쑗 a entered a period of economic depression.
freight depot 쑗 a bus depot 2. a centre for dept abbr department
dept
transport 쑗 bus depot depth /depθ/ noun the variety in a prod-

depth
depreciate /dpriʃiet/ verb 1. to re-

depreciate
| uct line
duce the value of assets in accounts 쑗 We deputise /depjυtaz/, deputize verb
deputise
depreciate our company cars over three 왍 to deputise for someone to take the
years. 2. to lose value 쑗 a share which has place of someone who is absent 쑗 He
depreciated by 10% over the year 쑗 The deputised for the chairman who was ill.
pound has depreciated by 5% against the deputy /depjυti/ noun a person who
deputy
dollar. takes the place of another 쑗 to act as dep-

‘…this involved reinvesting funds on uty for someone or to act as someone’s
items which could be depreciated against deputy 쑗 He is deputy manager of the ac-
income for three years’ counts department. 쑗 Her title is deputy
[Australian Financial Review] managing director.
‘…buildings are depreciated at two per
deregulate /dire!jυlet/ verb to re-
deregulate
cent per annum on the estimated cost of

|
construction’ [Hongkong Standard] move government controls from an indus-

try 쑗 The US government deregulated the
‘…the euro’s downward drift sparked
alarmed reactions from the European Cen- banking sector in the 1980s.
deregulation /dire!jυleʃ(ə)n/
deregulation
tral Bank which has seen the new currency | |
depreciate by almost 15% since its launch’ noun the reduction of government control
[Times] over an industry 쑗 the deregulation of the
COMMENT: Various methods of depreciat- airlines
ing assets are used, such as the ‘straight ‘…after the slump in receipts last year that
line method’, where the asset is depreci- followed liner shipping deregulation in the
ated at a constant percentage of its cost
each year and the ‘reducing balance US, carriers are probably still losing mon-
method’, where the asset is depreciated ey on their transatlantic services. But with
at a constant percentage which is ap- a possible contraction in capacity and
plied to the cost of the asset after each of healthy trade growth, this year has begun
the previous years’ depreciation has in a much more promising fashion than
been deducted. last’ [Lloyd’s List]
depreciation /dpriʃieʃ(ə)n/ noun derivative instruments /drvətv
depreciation derivative instruments
| | |
1. a reduction in value of an asset 2. a loss nstrυmənts/, derivatives /d |
of value 쑗 a share which has shown a de- rvətvz/ plural noun any forms of trad-
derived demand 114

ed security such as option contracts, desk planner /desk plnə/ noun a
desk planner
which are derived from ordinary bonds book or chart which shows days, weeks
and shares, exchange rates or stock mar- and months so that the work of an office
ket indices can be shown by diagrams
derived demand /dravd dmɑnd/
derived demand
desk research /desk rs&tʃ/ noun

desk research
| |
|
noun a demand for a product because it is the process of looking for information
needed to produce another product which which is in printed sources such as direc-
is in demand tories
describe /dskrab/ verb to say what
describe
desk-top publishing (DTP) /desk

desk-top publishing
|
someone or something is like 쑗 The leaf- tɒp pblʃŋ/ noun the writing, design-
let describes the services the company ing and printing of documents in an of-
can offer. 쑗 The managing director de- fice, using a computer, a printer and spe-
scribed the difficulties the company was cial software
having with cash flow.
despatch /dsptʃ/ same as dispatch
despatch
description /dskrpʃən/ noun a de-

description |
tailed account of what something is like 왍 destination /destneʃ(ə)n/ noun a

destination
false description of contents the act of place to which something is sent, to

wrongly stating the contents of a packet to which something is going 쑗 The ship will
trick customers into buying it take ten weeks to reach its destination. 왍
design /dzan/ noun 1. the planning
design
|
final destination, ultimate destination
or drawing of a product before it is built place reached at the end of a journey after
or manufactured 2. the planning of the stopping at several places en route
detail /ditel/ noun a small part of a
detail
visual aspect of an advertisement 쐽 verb

to plan or to draw something before it is description 쑗 The catalogue gives all the
built or manufactured 쑗 He designed a details of our product range. 쑗 We are
new car factory. 쑗 She designs garden worried by some of the details in the con-
furniture. tract. 왍 in detail giving many particulars
designate adjective /dez!nət/ ap-
designate
쑗 The catalogue lists all the products in
pointed to a job but not yet working 쑗 the detail. 쐽 verb to list in detail 쑗 The cata-
chairman designate (NOTE: always fol- logue details the payment arrangements
lows a noun) 쐽 verb /dez!net/ to ap- for overseas buyers. 쑗 The terms of the li-
point someone to a post cence are detailed in the contract.
detailed /diteld/ adjective in detail 왍
detailed
design department /dzan d

design department
| |
pɑtmənt/ noun the department in a detailed account an account which lists

large company which designs the compa- every item
ny’s products or its advertising determine /dt&mn/ verb to fix, ar-
determine
designer /dzanə/ noun a person who range or decide 쑗 to determine prices or

designer
designs 쑗 She is the designer of the new quantities 쑗 conditions still to be deter-
computer. 쐽 adjective expensive and mined
fashionable 쑗 designer jeans Deutschmark /dɔtʃmɑk/ noun a
Deutschmark
designer clothes /dzanə kləυðz/

designer clothes
| unit of currency used before the euro in

noun clothes which have been designed Germany
by a famous designer, with his or her devaluation /divljueʃ(ə)n/ noun
devaluation
name printed on them a reduction in the value of a currency

design studio /dzan stjudiəυ/
design studio
| against other currencies 쑗 the devaluation

noun an independent firm which special- of the rand
izes in creating designs devalue /divlju/ verb to reduce the
devalue
desk /desk/ noun a section of a newspa-

desk
value of a currency against other curren-

per cies 쑗 The pound has been devalued by
deskilling /disklŋ/ noun the process 7%.
deskilling
of reducing the number of skilled jobs and develop /dveləp/ verb 1. to plan and
develop
replacing them with unskilled jobs produce 쑗 to develop a new product 2. to

desk pad /desk pd/ noun a pad of
desk pad
plan and build an area 쑗 to develop an in-

paper kept on a desk for writing notes dustrial estate
115 different
developed country /dveləpt 쑗 to dial the operator 왍 to dial direct to
developed country
kntri/ noun a country which has an ad- contact a phone number without asking
vanced manufacturing system the operator to do it for you 쑗 You can
‘…developed countries would gain $135 dial New York direct from London.
dialling /daəlŋ/ noun the act of call-
dialling
billion a year and developing countries,

such as the former centrally planned econ- ing a telephone number
omies of Eastern Europe, would gain $85 dialling code /daəlŋ kəυd/ noun
dialling code
billion a year. The study also notes that the special series of numbers which you use
poorest countries would lose an annual $7 to make a call to another town or country
billion’ [Times]
dialogue /daəlɒ!/ noun a discussion
dialogue
developing country / dveləpŋ

developing country
kntri/, developing nation /d between two people or groups, in which

views are exchanged 쑗 The management
|
veləpŋ neʃ(ə)n/ noun a country

which is not fully industrialised refused to enter into a dialogue with the
strikers.
developing world /dveləpŋ
developing world
diarise /daəraz/, diarize verb to en-

| diarise
neʃ(ə)n/ noun the countries of Africa,

Asia and South America which do not all ter a date you have to remember in a diary
dictaphone /dktəfəυn/ noun a trade-
dictaphone
have highly developed industries

development / dveləpmənt/ noun
development
|
mark for a brand of dictating machine
dictate /dktet/ verb to say something
dictate
the work of planning the production of a |
new product and constructing the first to someone who then writes down your
prototypes 쑗 We spend a great deal on re- words 쑗 to dictate a letter to a secretary
search and development. 쑗 He was dictating orders into his pocket
development area /dveləpmənt
development area
|
dictating machine.
eəriə/, /d dictating machine /dktetŋ mə
dictating machine
development zone |
| |
veləpmənt zəυn/ noun an area which ʃin/ noun a machine which records
has been given special help from a gov- what someone dictates, which a typist can
ernment to encourage businesses and fac- then play back and type out
dictation /dkteʃ(ə)n/ noun an act of
dictation
tories to be set up there |
device /dvas/ noun a small useful

device
| dictating 왍 to take dictation to write

machine 쑗 He invented a device for down what someone is saying 쑗 The sec-
screwing tops on bottles. retary was taking dictation from the man-
devise /dvaz/ noun the act of giving
devise
|
aging director.
dictation speed /dkteʃ(ə)n spid/
dictation speed
freehold land to someone in a will 쐽 verb |
to give freehold property to someone in a noun the number of words per minute
will which a secretary can write down in
COMMENT: Giving of other types of prop- shorthand
erty is a bequest. differ /dfə/ verb not to be the same as
differ
devisee /dvazi/ noun a person who

devisee
|
something else 쑗 The two products differ
receives freehold property in a will considerably – one has an electric motor,
diagram /daə!rm/ noun a drawing
diagram
the other runs on oil. 쑗 The two manage-

which presents information visually 쑗 a rial vacancies differ considerably – one
diagram showing sales locations 쑗 a dia- deals with product design and the other
gram of the company’s organisational with customer services.
structure 쑗 The first diagram shows how difference /df(ə)rəns/ noun a way in
difference
our decision-making processes work. which two things are not the same 쑗 dif-
diagrammatic /daə!rəmtk/ ad-
diagrammatic
| ferences in price or price differences 쑗

jective 왍 in diagrammatic form in the What is the difference between these two
form of a diagram 쑗 The chart showed the products? 쑗 What is the difference be-
work flow in diagrammatic form. tween a junior manager and a managerial
diagrammatically /daə!rə assistant?
diagrammatically
mtkli/ adverb using a diagram 쑗 The different /df(ə)rənt/ adjective not the
different
chart shows the sales pattern diagram- same 쑗 Our product range is quite differ-
matically. ent in design from that of our rivals. 쑗 We
dial /daəl/ verb to call a telephone offer ten models each in six different col-
dial
number on a telephone 쑗 to dial a number ours.

differential 116
differential /dfərenʃəl/ adjective successful in adapting to their environ-
differential
showing a difference 쐽 noun 왍 to erode ment will survive

wage differentials to reduce differences digital economy /dd$t(ə)l 
digital economy
in salary gradually kɒnəmi/ noun an economy that is based

differential pricing /dfərenʃəl on electronic commerce, e.g., trade on the
differential pricing
prasŋ/ noun the act of giving different Internet

products in a range different prices so as digital goods / dd$t(ə)l !υdz/ plu-
digital goods
to distinguish them from each other ral noun goods that are sold and delivered
differential tariffs /dfərenʃəl
differential tariffs
electronically, usually over the Internet

trfs/ plural noun different tariffs for digital money /dd$t(ə)l mni/
digital money
different classes of goods as, e.g., when noun a series of numbers that has a value
imports from some countries are taxed equivalent to a sum of money in a physi-
more heavily than similar imports from cal currency
other countries
digital nervous system /dd$t(ə)l
digital nervous system
differentiation /dfərenʃieʃ(ə)n/
differentiation
|
n&vəs sstəm/ noun a digital informa-
noun the act of ensuring that a product tion system that gathers, manages and
has some unique features that distinguish distributes knowledge in a way that al-
it from competing products 쑗 We are add- lows an organisation to respond quickly
ing some extra features to our watches in and effectively to events in the outside
the interest of product differentiation. 쑗 world
The aim of differentiation should be to
/dd$t(ə)l
digital strategy
catch the customer’s eye. digital strategy

strtəd$/ noun a business strategy that
difficult /dfk(ə)lt/ adjective not easy
difficult
is based on the use of information tech-

쑗 The company found it difficult to sell nology
into the European market. 쑗 The market
digitisable /dd$tazəb(ə)l/ adjec-
digitisable
for secondhand computers is very difficult

at present. tive able to be converted into digital form
for distribution via the Internet or other
difficulty /dfk(ə)lti/ noun a problem,
difficulty
networks
or trouble in doing something 쑗 They had
dilution of equity /daluʃ(ə)n əv
dilution of equity
a lot of difficulty selling into the European |
market. 쑗 We have had some difficulties ekwti/ noun a situation where the ordi-
with customs over the export of comput- nary share capital of a company has been
ers. increased but without an increase in the
diffusion / dfju$(ə)n/ noun the proc-
diffusion
assets, so that each share is worth less
than before
|
ess by which a product is gradually adopt-

dime /dam/ noun US ten cent coin
dime
ed by consumers
digit /dd$t/ noun a single number 쑗 a
digit
(informal)
seven-digit phone number 왍 a seven-digit diminish /dmnʃ/ verb to become
diminish
phone number a phone number with sev- smaller 쑗 Our share of the market has di-
en figures 쑗 The seven-digit numbers are minished over the last few years.
being replaced by eight digits. dip /dp/ noun a sudden small fall 쑗 Last
dip
digital /dd$t(ə)l/ adjective converted year saw a dip in the company’s perform-
digital
into a form that can be processed by com- ance. 쐽 verb to fall in price 쑗 Shares
puters and accurately reproduced dipped sharply in yesterday’s trading.
digital cash /dd$t(ə)l kʃ/ noun a
digital cash
(NOTE: dipping – dipped)
diploma /dpləυmə/ noun a document
diploma
form of digital money that can be used |
like physical cash to make online pur- which shows that a person has reached a
chases and is anonymous because there is certain level of skill in a subject 쑗 He is
no way of obtaining information about studying for a diploma in engineering. 쑗
the buyer when it is used The new assistant HR manager has a di-
digital Darwinism /dd$t(ə)l ploma in human resources management.
digital Darwinism
dɑwnz(ə)m/ noun the theory that In- 쑗 A diploma is awarded at the end of the
ternet companies develop in the same way two-year course in accountancy.
diplomat /dpləmt/, diplomatist /d
diplomat
as species, according to Darwin’s theory |
of evolution, and that those that are most pləυmətst/ noun a person (such as an
117 director
ambassador) who is the official represent- direct labour /darekt lebə/ noun
direct labour
ative of his country in another country the cost of the workers employed which
diplomatic /dpləmtk/ adjective can be allocated to a product, not includ-
diplomatic
referring to diplomats 왍 to grant some- ing materials or overheads

direct labour costs /darekt lebə
direct labour costs
one diplomatic status to give someone |
the rights of a diplomat kɒsts/ noun the cost of the employees

diplomatic immunity /dpləmtk 
diplomatic immunity
|
employed which can be allocated to a
mjunti/ noun the condition of being product, not including materials or over-
outside the control of the laws of the heads
directly /darektl/ adverb 1. immedi-
directly
country you are living in because of being |
a diplomat 쑗 He claimed diplomatic im- ately 쑗 She left for the airport directly af-
munity to avoid being arrested. ter receiving the telephone message. 2.
with no third party involved 쑗 We deal di-
direct /darekt/ verb to manage or or-
direct
|
rectly with the manufacturer, without us-
ganise something 쑗 He directs our South- ing a wholesaler.
East Asian operations. 쑗 She was direct-
direct mail /darekt mel/ noun the
direct mail
ing the development unit until last year. 쐽 |
adjective straight or without interference practice of selling a product by sending

쐽 adverb with no third party involved 쑗
publicity material to possible buyers
We pay income tax direct to the govern- through the post 쑗 These calculators are
ment. 왍 to dial direct to contact a phone only sold by direct mail. 쑗 The company
number yourself without asking the oper- runs a successful direct-mail operation.
ator to do it for you 쑗 You can dial New ‘…all of those who had used direct mar-
York direct from London if you want. keting techniques had used direct mail,
79% had used some kind of telephone
direct action /darekt kʃən/ noun
direct action
|
technique and 63% had tried off-the-page
a strike or go-slow by a workforce selling’ [Precision marketing]
direct cost /darekt kɒst/ noun a direct-mail advertising /darekt
direct cost direct-mail advertising
| |
cost which can be directly related to the mel dvətazŋ/ noun advertising by
making of a product, i.e. its production sending leaflets to people through the
cost post
direct mailing /darekt melŋ/
direct mailing
direct debit /darekt debt/ noun a

direct debit
|
|
system where a customer allows a compa- noun the sending of publicity material by
ny to charge costs to his or her bank ac- post to possible buyers
director /darektə/ noun 1. a senior
director
count automatically and where the |
amount charged can be increased or de- employee appointed by the shareholders

creased with the agreement of the cus- to help run a company, who is usually in
tomer 쑗 I pay my electricity bill by direct charge of one or other of its main func-
debit. Abbreviation DD tions, e.g. sales or human relations, and
direct expenses /darekt k
direct expenses
usually, but not always, a member of the
board of directors 왍 directors’ salaries
| |
spensz/ plural noun expenses exclud-

ing materials, labour or purchase of stock salaries of directors (which have to be
for resale which are incurred in making a listed in the company’s profit and loss ac-
product count) 2. the person who is in charge of a
project, an official institute or other or-
direction /darekʃən/ noun 1. the
direction
|
ganisation 쑗 the director of the govern-
process of organising or managing 쑗 He ment research institute 쑗 She was ap-
took over the direction of a multinational pointed director of the trade association.
group. 2. 왍 directions for use instruc- ‘…the research director will manage and
tions showing how to use something direct a team of business analysts report-
directive /darektv/ noun an order or
directive
|
ing on the latest developments in retail dis-
command to someone to do something, tribution throughout the UK’ [Times]
especially an order from the Council of COMMENT: Directors are elected by
Ministers or Commission of the European shareholders at the AGM, though they
are usually chosen by the chairman or
Union referring to a particular problem 쑗 chief executive. A board will consist of a
The Commission issued a directive on chairman (who may be non-executive), a
food prices. chief executive or managing director and
directorate 118
a series of specialist directors in charge for fire damage, but the claim was disal-
of various activities of the company lowed.
(such as a finance director, production
disallowable /dsəlaυəb(ə)l/ adjec-
disallowable
director or sales director). The company |
secretary will attend board meetings, but tive not able to be allowed for tax relief 쑗
need not be a director. Apart from the ex- The use of a car for private travel is a dis-
ecutive directors, who are in fact employ- allowable expense. Opposite allowable
ees of the company, there may be sever-
disburse / dsb&s/ verb to pay money
disburse
al non-executive directors, appointed ei- |
disbursement /dsb&smənt/ noun

disbursement
ther for their expertise and contacts, or |
as representatives of important share- the payment of money

holders such as banks. The board of an
discharge noun /dstʃɑd$/ 1. a pay-
discharge
American company may be made up of

a large number of non-executive direc- ment of debt 왍 in full discharge of a debt
tors and only one or two executive offic- as full payment of a debt 2. 왍 in dis-
ers. A British board has more executive charge of her duties as director while
directors. carrying out her duties as director 3. dis-
directorate /darekt(ə)rət/ noun a missal from a job 쐽 verb /dstʃɑd$/ 1.
directorate
| |
group of directors 왍 to discharge a bankrupt to release

directorship /darektəʃp/ noun the someone from bankruptcy because they
directorship
post of director 쑗 She was offered a direc- have has paid their debts 2. 왍 to dis-
torship with Smith Ltd. charge a debt, to discharge your liabil-
‘…what benefits does the executive derive ities to pay a debt or your liabilities in full
from his directorship? In the first place 3. to dismiss an employee 쑗 to discharge
compensation has increased sharply in re- an employee for negligence
cent years’ [Duns Business Month] discharged bankrupt /dstʃɑd$d
discharged bankrupt
directors’ report /darektəz rpɔt/ bŋkrpt/ noun a person who has been
directors’ report
| |
noun the annual report from the board of released from being bankrupt because his
directors to the shareholders or her debts have been paid
directory /darekt(ə)ri/ noun 1. a ref-
directory
discharge in bankruptcy
discharge in bankruptcy
erence book containing information on /dstʃɑd$ n bŋkrptsi/, discharge

companies and their products 2. a list of of bankruptcy noun the legal process of
people or businesses with information being released from bankruptcy after pay-
about their addresses and telephone num- ing your debts
bers disciplinary /dsplnəri/ adjective
disciplinary
direct selling /darekt selŋ/ noun

direct selling
| referring to punishment
the work of selling a product direct to the ‘…disciplinary action is often regarded as
customer without going through a shop synonymous with dismissal, but the new
direct tax /darekt tks/ noun a tax
direct tax
| ACAS handbook takes a more positive

paid directly to the government, e.g. in- view’ [Employment Gazette]
come tax disciplinary procedure /ds
disciplinary procedure
direct taxation /darekt tk

direct taxation
| | plnəri prəsid$ə/ noun a way of warn-

|
seʃ(ə)n/ noun a tax which is paid direct ing a worker officially that he or she is
to the government, e.g. income tax 쑗 The breaking rules or is working badly
government raises more money by direct discipline /dspln/ noun the self-
discipline
taxation than by indirect. control needed to do a job 쑗 Working his

dirty float /d&ti fləυt/ noun a process way up the company ladder gave him the
dirty float
of floating a currency, where the govern- discipline to take on further management

ment intervenes to regulate the exchange responsibilities. 쑗 Lack of discipline is re-
rate sponsible for poor attendance figures. 쐽
disaggregation /ds!rə!eʃ(ə)n/ verb to punish an employee for miscon-
disaggregation
noun the process of separating the com- duct 쑗 Three members of staff were disci-
panies that make up a group so that their plined by the manager.
disclaimer /dsklemə/ noun a legal
disclaimer
strengths and contributions can be ana- |
lysed as a basis for rebuilding an effective refusal to accept responsibility

business web disclose /dskləυz/ verb to tell some-
disclose
disallow /dsəlaυ/ verb not to accept a

disallow
| thing that was previously unknown to oth-

claim for insurance 쑗 She claimed £2,000 er people or secret 쑗 The bank has no
119 discretion
right to disclose details of my account to mum required rate of return. Abbrevia-
the tax office. tion DCF
disclosure /dskləυ$ə/ noun the act COMMENT: Discounting is necessary be-
disclosure
cause it is generally accepted that mon-

of telling something that was previously ey held today is worth more than money
unknown to other people or secret 쑗 The to be received in the future. The effect of
disclosure of the takeover bid raised the discounting is to reduce future income or
price of the shares. expenses to their ‘present value’. Once
discontinue /dskəntnju/ verb to
discontinue
discounted, future cash flows can be
compared directly with the initial cost of
|
stop stocking, selling or making (a prod- a capital investment which is already

uct) 쑗 These carpets are a discontinued stated in present value terms. If the
line. present value of income is greater than
discount noun /dskaυnt/ 1. the per-
discount
the present value of costs, the invest-
ment can be said to be worthwhile.
centage by which the seller reduces the
discounted value /dskaυntd
discounted value
full price for the buyer 쑗 to give a dis-

count on bulk purchases 왍 to sell goods at vlju/ noun the difference between the
a discount or at a discount price to sell face value of a share and its lower market
goods below the normal price 왍 10% dis- price
discounter /dskaυntə/ noun a per-
discounter
count for cash or 10% cash discount

you pay 10% less if you pay in cash 2. the son or company that discounts bills or in-
amount by which something is sold for voices, or sells goods at a discount
less than its value 왍 shares which stand ‘…invoice discounting is an instant fi-
at a discount shares which are lower in nance raiser. Cash is advanced by a factor
price than their asset value or their par or discounter against the value of invoices
value 쐽 verb /dskaυnt/ 1. to reduce
|
sent out by the client company. Debt col-
prices to increase sales 2. 왍 to discount lection is still in the hands of the client
bills of exchange to buy or sell bills of company, which also continues to run its
own bought ledger’ [Times]
exchange for less than the value written
on them in order to cash them later 왍 to ‘…a 100,000 square-foot warehouse gen-
erates ten times the volume of a discount
discount invoices to obtain a cash ad- retailer; it can turn its inventory over 18
vance from a discounter against the value times a year, more than triple a big dis-
of invoices 3. to react to something which counter’s turnover’ [Duns Business
may happen in the future, such as a possi- Month]
ble takeover bid or currency devaluation discount house /dskaυnt haυs/
discount house
왍 shares are discounting a rise in the noun 1. a financial company which spe-
dollar shares have risen in advance of a cialises in discounting bills 2. a shop
rise in the dollar price which specialises in selling cheap goods
‘…pressure on the Federal Reserve Board bought at a high discount
to ease monetary policy and possibly cut
discount price /dskaυnt pras/
discount price
its discount rate mounted yesterday’

[Financial Times] noun the full price less a discount
discount rate /dskaυnt ret/ noun
discount rate
‘…banks refrained from quoting forward

US/Hongkong dollar exchange rates as the rate charged by a central bank on any
premiums of 100 points replaced the pre- loans it makes to other banks
discount store /dskaυnt stɔ/ noun
discount store
vious day’s discounts of up to 50 points’

[South China Morning Post] a shop which specialises in cheap goods
discountable /dskaυntəb(ə)l/ ad- bought at a high discount
discountable
discover /dskvə/ verb to find some-

discover
jective possible to discount 쑗 These bills |
are not discountable. thing new 쑗 We discovered that our agent

discounted cash flow /dskaυntd
discounted cash flow
was selling our rival’s products at the
kʃ fləυ/ noun 1. a calculation of fore- same price as ours. 쑗 The auditors dis-
cast sales of a product in current terms covered some errors in the accounts.
discrepancy /dskrepənsi/ noun a
discrepancy
with reductions for current interest rates |
2. the calculation of the forecast return on lack of agreement between figures in in-
capital investment by discounting future voices or accounts
discretion /dskreʃ(ə)n/ noun the
discretion
cash flows from the investment, usually at |
a rate equivalent to the company’s mini- ability to decide what should be done 왍 I
discretionary 120
leave it to your discretion I leave it for crease production further it has to em-
you to decide what to do 왍 at the discre- ploy more workers and buy more ma-
tion of someone according to what some- chinery, leading to an increase in unit
cost.
one decides 쑗 Membership is at the dis-
disembark /dsmbɑk/ verb to get
disembark
cretion of the committee. |
off a boat or plane

discretionary /dskreʃ(ə)n(ə)ri/ ad-
discretionary
/dsmbɑ
|
disembarkation
disembarkation
jective possible if someone wants 왍 the |
minister’s discretionary powers powers keʃ(ə)n/ noun an act of getting off a

which the minister could use if he or she boat or plane
thought it necessary 왍 on a discretionary disembarkation card /dsembɑ
disembarkation card
basis referring to a way of managing a keʃ(ə)n kɑd/ noun a card which allows
client’s funds, where the fund manager you to get off a plane or boat, and return
uses his discretion to do as he wants, after a short time
disenfranchise /dsnfrntʃaz/
disenfranchise
without the client giving him any specific |
instructions verb to take away someone’s right to vote

discretionary account /d 쑗 The company has tried to disenfran-
discretionary account
skreʃ(ə)n(ə)ri əkaυnt/ noun a client’s

|
chise the ordinary shareholders.
dishonour /dsɒnə/ verb 왍 to dishon-
dishonour
account with a stockbroker, where the |
broker invests and sells at his or her own our a bill not to pay a bill (NOTE: The US
discretion without the client needing to spelling is dishonor.)
give him specific instructions dishonoured cheque /dsɒnəd
dishonoured cheque
discrimination /dskrmneʃ(ə)n/ tʃek/ noun a cheque which the bank will

discrimination
| |
noun the practice of treating people in not pay because there is not enough mon-
different ways because of class, religion, ey in the account to pay it
race, language, colour or sex disincentive /dsnsentv/ noun
disincentive
discuss /dsks/ verb to talk about a something which discourages, especially

discuss
problem 쑗 They spent two hours discuss- something which discourages people
ing the details of the contract. 쑗 The com- from working 쑗 The low salary offered
mittee discussed the question of import was a disincentive to work.
duties on cars. 쑗 The board will discuss disinflation /dsnfleʃ(ə)n/ noun the
disinflation
wage rises at its next meeting. 쑗 We dis- process of reducing inflation in the econ-
cussed delivery schedules with our sup- omy by increasing tax and reducing the
pliers. level of money supply. Compare defla-
discussion /dskʃ(ə)n/ noun the act tion
discussion
of talking about a problem 쑗 After ten disintegration /dsnt!reʃ(ə)n/

disintegration
| |
minutes’ discussion the board agreed the noun the decision to stop producing some
salary increases. 쑗 We spent the whole goods or supplies and to buy them in in-
day in discussions with our suppliers. stead 쑗 Disintegration has meant we now
discussion board /dskʃ(ə)n have to buy all of our plastic parts. 쑗 Part
discussion board
bɔd/, discussion group /dskʃ(ə)n | of the company’s disintegration policy in-

!rup/ noun 1. a group of people who volved selling off the factories.
discuss something by sending emails to disintermediation /dsntəmidi
disintermediation
| |
the group and where each member can re- eʃ(ə)n/ noun the removal of any inter-
spond and see the responses of other mediaries from a process so that, e.g.,
members 2. an area on a website where manufacturers sell direct to consumers in-
people can write in their own opinions, stead of selling their products through
ideas and announcements wholesalers and retailers
diseconomies of scale /ds disinvest /dsnvest/ verb to reduce
diseconomies of scale
disinvest
|
|
kɒnəmiz əv skel/ plural noun a situa- investment by not replacing capital assets
tion where increased production leads to a when they wear out
higher production cost per unit or average disinvestment
disinvestment
/dsnvestmənt/ |
production cost noun a reduction in capital assets by not

COMMENT: After having increased pro- replacing them when they wear out
duction using the existing workforce and
disk /dsk/ noun a round flat object,
disk
machinery, giving economies of scale,

the company finds that in order to in- used to store information in computers
121 disqualification
disk drive /dsk drav/ noun a part of display cabinet /dsple kbnət/
disk drive display cabinet
a computer which makes a disk spin noun a piece of furniture with a glass top
round in order to read it or store informa- or glass doors for showing goods for sale
tion on it display material /dsple mətəriəl/
display material
| |
diskette /dsket/ noun a small floppy

diskette
| noun material used to attract attention to

disk 쑗 She sent a diskette of the accounts goods which are for sale, e.g. posters and
to her accountant. photographs
dismiss /dsms/ verb 1. 왍 to dismiss display pack /dsple pk/ noun a
dismiss display pack
| |
an employee to remove an employee special box for showing goods for sale 쑗
from a job 쑗 She was dismissed for being The watches are prepacked in plastic dis-
late. 2. to refuse to accept 쑗 The court play boxes.
dismissed the claim. display panel /dsple pn(ə)l/
display panel
dismissal /dsms(ə)l/ noun the re-

dismissal
| noun a flat area for displaying goods in a

moval of an employee from a job, either shop window
by sacking or by not renewing a contract display stand /dsple stnd/ noun a
display stand
dismissal procedures /dsms(ə)l

dismissal procedures
| special stand for showing goods for sale

prəsid$əz/ plural noun the correct way
|
disposable /dspəυzəb(ə)l/ adjective
disposable
to dismiss someone, following the rules in which can be used and then thrown away
the contract of employment 쑗 The machine serves soup in disposable
disparity /dsprti/ noun a differ-
disparity
| paper cups.
ence (NOTE: The plural is disparities.) disposable income /dspəυzəb(ə)l
disposable income
dispatch /dsptʃ/ noun 1. the send- nkm/, disposable personal income
dispatch
ing of goods to a customer 쑗 Production /dspəυzəb(ə)l p&s(ə)nəl nkm/

|
difficulties held up dispatch for several noun the income left after tax and nation-
weeks. 2. goods which have been sent 쑗 al insurance have been deducted
The weekly dispatch went off yesterday. 쐽 disposable personal income /d
disposable personal income
verb to send goods to customers 쑗 The spəυzəb(ə)l p&s(ə)nəl nkm/ noun

goods were dispatched last Friday. the income left after tax and national in-
dispatch department /dsptʃ d
dispatch department
| | surance have been deducted. Also called

pɑtmənt/ noun the department which take-home pay
deals with the packing and sending of disposal /dspəυz(ə)l/ noun a sale 쑗 a
disposal
goods to customers disposal of securities 쑗 The company has

dispatcher /dsptʃə/ noun 1. a per-
dispatcher
|
started a systematic disposal of its prop-
son who sends goods to customers 2. US erty portfolio. 왍 lease or business for dis-
a person responsible for the route sched- posal a lease or business for sale
ules of taxis, buses, trucks, etc. dispose /dspəυz/ verb 왍 to dispose
dispose
dispatch note /dsptʃ nəυt/ noun a

dispatch note
| of to get rid of or to sell, especially cheap-

note saying that goods have been sent ly 쑗 to dispose of excess stock 쑗 to dis-
dispatch rider /dsptʃ radə/ noun pose of excess equipment 쑗 He is plan-
dispatch rider
a motorcyclist who delivers messages or ning to dispose of his business in the new
parcels in a town year.
dispersion /dsp&ʃ(ə)n/ noun the at- dispute /dspjut, dspjut/ noun a
dispersion dispute
| |
tempt by a distributor to distribute a prod- disagreement 쑗 dispute between two de-

uct to a market partments in an organisation 왍 to adjudi-
display /dsple/ noun the showing of cate or mediate in a dispute to try to set-
display
goods for sale 쑗 an attractive display of tle a dispute between other parties 쐽 verb
kitchen equipment 쑗 The shop has several to argue that something is wrong 쑗 he dis-
car models on display. 쐽 verb to show 쑗 puted the bill
disputes procedure /dspjutz prə
disputes procedure
The company was displaying three new | |
car models at the show. sid$ə/ noun a formal way of resolving

display advertisement /dsple əd disputes between a trade union and man-
display advertisement
| |
v&tsmənt/, display ad /dsple d/ |

agement
disqualification / dskwɒlf
disqualification
noun an advertisement which is well de- | |
signed or printed in bold type to attract at- keʃ(ə)n/ noun the act of making some-
tention one disqualified to do something
disqualify 122
‘Even ‘administrative offences’ can result ‘…there is evidence that distribution chan-
in disqualification. A person may be dis- nels are supply driven’ [Quarterly Review
qualified for up to five years following of Marketing]
persistent breach of company legislation distribution network /dstr
distribution network
in terms of failing to file returns, accounts bjuʃ(ə)n netw&k/ noun a series of

and other documents with the Registrar’ points or small warehouses from which
[Accountancy] goods are sent all over a country
disqualify /dskwɒlfa/ verb to make
disqualify
distribution slip /dstrbjuʃ(ə)n

distribution slip
|
|
a person unqualified to do something, slp/ noun a paper attached to a document

such as to be a director of a company or to a magazine, showing all the people
dissolution /dsəluʃ(ə)n/ noun the
dissolution
| in an office who should read it

ending of a partnership distributive /dstrbjυtv/ adjective
distributive
dissolve /dzɒlv/ verb to bring to an

dissolve
| referring to distribution
end 쑗 to dissolve a partnership distributive trades /dstrbjυtv
distributive trades
distrain /dstren/ verb to seize goods tredz/ plural noun all businesses in-
distrain
to pay for debts volved in the distribution of goods

distress /dstres/ noun the act of tak- distributor /dstrbjυtə/ noun a com-
distributor
distress
|
|
ing someone’s goods to pay for debts pany which sells goods for another com-
distress merchandise /dstres
distress merchandise
|
pany which makes them 왍 a network of
m&tʃəndas/ noun US goods sold distributors a number of distributors
cheaply to pay a company’s debts spread all over a country
distributorship /dstrbjυtəʃp/
distributorship
distress sale /dstres sel/ noun a

distress sale |
noun the position of being a distributor

sale of goods at low prices to pay a com- for a company
pany’s debts
district /dstrkt/ noun a section of a
district
distribute /dstrbjut/ verb 1. to

distribute
|
country or of a town 쑗 district manager
share out dividends 쑗 Profits were dis-
diversification /dav&sfkeʃ(ə)n/
diversification
tributed among the shareholders. 2. to | |
send out goods from a manufacturer’s noun the process of adding another quite
warehouse to retail shops 쑗 Smith Ltd dis- different type of business to a firm’s exist-
tributes for several smaller companies. 쑗 ing trade
diversify /dav&sfa/ verb 1. to add
diversify
All orders are distributed from our ware- |
house near Oxford. new types of business to existing ones 쑗

The company is planning to diversify into
distribution /dstrbjuʃ(ə)n/ noun
distribution
|
new products. 2. to invest in different
1. the act of sending goods from the man-
types of shares or savings so as to spread
ufacturer to the wholesaler and then to re- the risk of loss
tailers 쑗 Stock is held in a distribution
divest /davest/ verb 왍 to divest one-
divest
centre which deals with all order process- |
ing. 쑗 Distribution costs have risen self of something to get rid of something
sharply over the last 18 months. 쑗 She 쑗 The company had divested itself of its
has several years’ experience as distribu- US interests.
divestiture /davesttʃə/ noun a sale
divestiture
tion manager. 2. the act of sharing some- |
thing among several people of an asset

divestment /davestmənt/ noun the
divestment
‘British distribution companies are poised |
to capture a major share of the European dropping or sale of a whole product line,
market’ [Management News] to allow the company to concentrate on
distribution
distribution channel
channel /dstr |
other products
bjuʃ(ə)n tʃn(ə)l/ noun the route by divide /dvad/ verb to cut into separate
divide
which a product or service reaches a cus- sections 쑗 The country is divided into six
tomer after it leaves the producer or sup- sales areas. 쑗 The two companies agreed
plier (NOTE: A distribution channel usual- to divide the market between them.
dividend /dvdend/ noun a percent-
dividend
ly consists of a chain of intermediaries,

for example wholesalers and retailers, age of profits paid to shareholders 왍 to
that is designed to move goods from the raise or increase the dividend to pay out
point of production to the point of con- a higher dividend than in the previous
sumption in the most efficient way.) year 왍 to maintain the dividend to keep
123 dogsbody
the same dividend as in the previous year dock 쑗 a dock worker 쑗 the dock manager
왍 to omit or pass the dividend to pay no 왍 the docks part of a town where the har-
dividend 왍 the shares are quoted ex div- bour is 쐽 verb 1. to go into dock 쑗 the
idend the share price does not include the ship docked at 17.00 2. to remove money
right to the dividend from someone’s wages 쑗 We will have to
COMMENT: The dividend is calculated as dock your pay if you are late for work
the proportion of profits a company can again. 쑗 He had £20 docked from his pay
pay to its shareholders after tax has for being late.
been paid, always keeping some of the
dock dues /dɒk djuz/ plural noun a
dock dues
profit back to reinvest in the company’s

products or activities. Large companies payment which a ship makes to the har-
usually pay dividends twice a year, once bour authorities for the right to use the
after the half-year results have been de- harbour
clared (called the ‘interim dividend’) and
docket /dɒkt/ noun a list of contents
docket
gain when the final results are published.

dividend cover /dvdend kvə/ of a package which is being sent
dividend cover
noun the ratio of profits to dividends paid dockyard / dɒkjɑd/ noun a place
dockyard
to shareholders where ships are built

dividend forecast / dvdend
dividend forecast
doctor’s certificate /dɒktəz sə

doctor’s certificate
fɔkɑst/ noun a forecast of the amount

|
tfkət/ noun a document written by a

of an expected dividend doctor to say that a worker is ill and can-
dividend warrant /dvdend
dividend warrant
not work 쑗 He has been off sick for ten

wɒrənt/ noun a cheque which makes days and still has not sent in a doctor’s
payment of a dividend (NOTE: The US certificate.
term is dividend check.) document /dɒkjυmənt/ noun a paper,
document
dividend yield /dvdend jild/ noun

dividend yield
especially an official paper, with written

a dividend expressed as a percentage of information on it 쑗 He left a file of docu-
the current market price of a share ments in the taxi. 쑗 She asked to see the
divider /dvadə/ noun a sheet of col- documents relating to the case.
divider
oured cardboard which fits into a ring documentary /dɒkjυment(ə)ri/ ad-

documentary
binder to separate different series of jective in the form of documents 쑗 docu-

sheets of paper mentary evidence
division /dv$(ə)n/ noun 1. the main
division
documentary evidence
|
documentary evidence
section of a large company 쑗 the market- /dɒkjυment(ə)ri evd(ə)ns/ noun evi-
ing division 쑗 the production division 쑗 dence in the form of documents
the retail division 쑗 the hotel division of documentary proof
the leisure group 2. a company which is documentary proof

part of a large group 쑗 Smith’s is now a /dɒkjυment(ə)ri pruf/ noun a proof in
division of the Brown group of compa- the form of a document
/dɒkjυmen
documentation
nies. 3. the act of separating a whole into documentation |
parts 쑗 the division of responsibility be- teʃ(ə)n/ noun all the documents refer-
tween managers ring to something 쑗 Please send me the
divisional /dv$(ə)n(ə)l/ adjective re- complete documentation concerning the
divisional
ferring to a division 쑗 a divisional direc- sale.

tor 쑗 the divisional headquarters
DoE
DoE abbr Department of Employment

divisional headquarters /d dog / dɒ!/ noun a product that has a low
divisional headquarters
dog
|
v$(ə)nəl hedkwɔtəz/ plural noun |

market share and a low growth rate, and
the main office of a division of a company so is likely to be dropped from the compa-
division of labour /dv$(ə)n əv
division of labour
| ny’s product line

lebə/ noun a production system where dog-eat-dog / dɒ! it dɒ!/ noun mar-
dog-eat-dog
work is split up into clearly defined tasks keting activity where everyone fights for
and areas of responsibility their own product and attacks competitors
DIY abbr do-it-yourself
DIY
mercilessly (informal )
DM, D-mark abbr Deutschmark
DM
dogsbody /dɒ!zbɒdi/ noun a person

dogsbody
dock /dɒk/ noun a harbour, a place

dock
who does all types of work in an office for

where ships can load or unload 쑗 loading very low wages (informal)
do-it-yourself 124
do-it-yourself /du t jəself/ adjec- where a company is based 쑗 They pro-
do-it-yourself
tive done by an ordinary person, not by a duce goods for the domestic market.
skilled worker domestic production /dəmestk
domestic production
dole /dəυl/ noun money given by the prədkʃən/ noun the production of
dole
government to unemployed people 왍 he is goods for use in the home country

receiving dole payments, he is on the domestic sales /dəmestk selz/
domestic sales
dole he is receiving unemployment bene- noun sales in the home country

fits domestic trade /dəmestk tred/
domestic trade
dole queue /dəυl kju/ noun a line of

dole queue
noun trade within the home country

people waiting to collect their unemploy- domicile /dɒmsal/ noun the country
domicile
ment money (NOTE: The US term is dole where someone lives or where a compa-
line.) ny’s office is registered 쐽 verb 왍 she is
dollar /dɒlə/ noun a unit of currency
dollar
domiciled in Denmark she lives in Den-

used in the US and other countries such as mark officially 왍 bills domiciled in
Australia, Bahamas, Barbados, Bermuda, France bills of exchange which have to
Brunei, Canada, Fiji, Hong Kong, Jamai- be paid in France
ca, New Zealand, Singapore and Zimba- donee /dəυni/ noun a person who re-
donee
bwe 쑗 The US dollar rose 2%. 쑗 They ceives a gift from a donor
sent a cheque for fifty Canadian dollars. donor /dəυnə/ noun a person who
donor
쑗 It costs six Australian dollars. 왍 a five gives, especially someone who gives
dollar bill a banknote for five dollars money
dollar area / dɒlər eəriə/ noun an area
dollar area
door-to-door /dɔ tə dɔ/ adjective

door-to-door
of the world where the US dollar is the going from one house to the next, asking
main trading currency the occupiers to buy something or to vote
dollar balances /dɒlə blənsz/
dollar balances
for someone 쑗 door-to-door canvassing

noun a country’s trade balances ex- 쑗 We have 200 door-to-door salesmen. 쑗
pressed in US dollars Door-to-door selling is banned in this
dollar crisis /dɒlə krass/ noun a
dollar crisis
part of the village.

fall in the exchange rate for the US dollar door-to-door salesman /dɔ tə dɔ
door-to-door salesman
dollar gap /dɒlə !p/ noun a situa- selzmən/ noun a man who goes from
dollar gap
tion where the supply of US dollars is not one house to the next, asking people to
enough to satisfy the demand for them buy something
from overseas buyers dormant /dɔmənt/ adjective no long-
dormant
dollar millionaire /dɒlə mljəneə/

dollar millionaire
| er active or no longer operating

noun a person who has more than one dormant account /dɔmənt ə
dormant account
million dollars kaυnt/ noun a past customer who is no

dollar stocks /dɒlə stɒkz/ plural longer buying 쑗 Let’s re-establish contact
dollar stocks
noun shares in US companies with some of our dormant accounts. 쑗 All

domestic /dəmestk/ adjective 1. re- the old reports on dormant accounts have
domestic
ferring to the home market or the market been filed away.

dossier /dɒsie/ noun a file of docu-
dossier
of the country where the business is situ-

ated 쑗 Domestic sales have increased ments
over the last six months. 2. for use in the dot.com /dɒtkɒm/, dot-com /dɒt
dot.com
home 쑗 Glue which is intended for both kɒm/ noun a business that markets its
domestic and industrial use. products through the Internet, rather than
domestic appliances /dəmestk ə
domestic appliances
| | by using traditional marketing channels

plaənsz/ plural noun electrical ma- dot-matrix printer /dɒt metrks
dot-matrix printer
chines which are used in the home, e.g. prntə/ noun a cheap printer which
washing machines makes letters by printing many small dots
domestic consumption /dəmestk
domestic consumption
| (the quality is not as good as laser printers

kənsmpʃən/ noun use in the home
| or inkjet printers)
country 쑗 Domestic consumption of oil dotted line /dɒtd lan/ noun a line
dotted line
has fallen sharply. made of a series of dots 쑗 Please sign on

domestic market /dəmestk the dotted line. 쑗 Do not write anything
domestic market
mɑkt/ noun the market in the country below the dotted line.
125 downside risk

double /db(ə)l/ adjective twice as Dow Jones Index /daυ d$əυnz
double Dow Jones Index
large or two times the size 쑗 Their turno- ndeks/ noun any of several indices pub-
ver is double ours. 왍 to be on double lished by the Dow Jones Co., based on
time to earn twice the usual wages for prices on the New York Stock Exchange.
working on Sundays or other holidays 왍 Dow Jones Industrial Average
Dow Jones Industrial Average
in double figures with two figures, from /daυ d$əυnz ndstrəl v(ə)rd$/
|
10 to 99 쑗 Inflation is in double figures. 쑗 noun an index of share prices on the New

We have had double-figure inflation for York Stock Exchange, based on a group
some years. 쐽 verb to become twice as of thirty major corporations 쑗 The Dow
big, or make something twice as big 쑗 We Jones Average rose ten points. 쑗 General
have doubled our profits this year or our optimism showed in the rise on the Dow
profits have doubled this year. 쑗 The com- Jones Average. Abbreviation DJIA
pany’s borrowings have doubled. down /daυn/ adverb, preposition in a
down
double-book /db(ə)l bυk/ verb to

double-book
lower position or to a lower position 쑗

let the same hotel room, plane seat, etc., The inflation rate is gradually coming
to more than one person at a time 쑗 We down. 쑗 Shares are slightly down on the
had to change our flight as we were dou- day. 쑗 The price of petrol has gone down.
ble-booked. 왍 to pay money down to pay a deposit 쑗
double-digit /db(ə)l dd$t/ adjec- They paid £50 down and the rest in
double-digit
tive more than 10 and less than 100 monthly instalments.

double-entry bookkeeping
double-entry bookkeeping down tools phrasal verb to stop work-

/db(ə)l entri bυkkipŋ/ noun the ing 쑗 The entire workforce downed
most commonly used system of book- tools in protest.
downgrade /daυn!red/ verb to re-
downgrade
keeping, based on the principle that every

financial transaction involves the simulta- duce the importance of someone or of a
neous receiving and giving of value, and job 쑗 The post was downgraded in the
is therefore recorded twice company reorganisation.
download /daυnləυd/ verb to load
download
double opt-in /db(ə)l ɒpt n/ noun

double opt-in
|
a method by which users who want to re- data or a program onto a computer from
ceive information or services from a web- another computer
down market /daυn mɑkt/ noun a
down market
site can register themselves as subscribers

double taxation /db(ə)l tk
double taxation
|
stock market which is falling or is at its
seʃ(ə)n/ noun the act of taxing the same lowest level
downmarket /daυnmɑkt/ adverb,
downmarket
income twice |
double taxation agreement

adjective cheaper or appealing to a less
double taxation agreement
/db(ə)l tkseʃ(ə)n ə!rimənt/,
| |
wealthy section of the population 쑗 The
double taxation treaty /db(ə)l tk company has adopted a downmarket im-
age. 왍 the company has decided to go
|
seʃ(ə)n triti/ noun an agreement be-

tween two countries that a person living downmarket the company has decided to
in one country shall not be taxed in both do down-market
down payment /daυn pemənt/
down payment
countries on the income earned in the oth-

er country noun a part of a total payment made in ad-
vance 쑗 We made a down payment of
doubtful debt /daυtf(ə)l det/ noun a
doubtful debt
debt which may never be paid $100.

downside /daυnsad/ noun 왍 the
downside
doubtful loan /daυtf(ə)l ləυn/ noun

doubtful loan
sales force have been asked to give

a loan which may never be repaid downside forecasts they have been asked
Dow 왍 the Dow Same as Dow Jones In-
Dow
for pessimistic forecasts

dex 왍 the Dow 30 Same as Dow Jones downside factor /daυnsad fktə/,
downside factor
Industrial Average downside potential /daυnsad pə |
Dow 30 /daυ θ&ti/ noun same as Dow tenʃ(ə)l/ noun the possibility of making
Dow 30
Jones Industrial Average a loss in an investment

Dow Jones Average /daυ d$əυnz downside risk /daυnsad rsk/ noun
Dow Jones Average downside risk
v(ə)rd$/ noun same as Dow Jones a risk that an investment will fall in value.
Industrial Average Opposite upside potential
downsizing 126
downsizing /daυnsazŋ/ noun the drafter /drɑftə/ noun a person who
downsizing drafter
process of reducing the size of something, makes a draft 쑗 the drafter of the agree-
especially reducing the number of people ment
employed in a company to make it more drafting /drɑftŋ/ noun an act of pre-
drafting
profitable paring the draft of a document 쑗 The

downstream /daυnstrim/ adjective
downstream
drafting of the contract took six weeks.

referring to the operations of a company drain / dren/ noun a gradual loss of
drain
at the end of a process (such as selling money flowing away 쑗 The costs of the
petrol through garages considered as an London office are a continual drain on
operation of a petroleum company). our resources. 쐽 verb to remove some-
Compare upstream thing gradually 쑗 The expansion plan has
downstream progress /daυnstrim drained all our profits. 쑗 The company’s
downstream progress
prəυ!res/ noun easy progress by a com- capital resources have drained away.
pany towards achieving its aims, when it draw /drɔ/ verb 1. to take money away
draw
benefits from favourable conditions and 쑗 to draw money out of an account 왍 to

trends. Opposite upstream progress draw a salary to have a salary paid by the
down time /daυn tam / noun 1. the company 쑗 The chairman does not draw
down time
time when a machine is not working or a salary. 2. to write a cheque 쑗 She paid
not available because it is broken or being the invoice with a cheque drawn on an
mended 2. time when a worker cannot Egyptian bank. (NOTE: drawing – drew –
work because machines have broken has drawn)
down or because components are not draw down phrasal verb to draw mon-
available ey which is available under a credit
downtown /daυntaυn/ adjective, ad- agreement
downtown
verb, noun (in) the central business dis- draw up phrasal verb to write a legal
trict of a town 쑗 His office is in downtown document 쑗 to draw up a contract or an
New York. 쑗 She works in a downtown agreement 쑗 to draw up a company’s
store. 쑗 They established a business articles of association
downtown. drawback /drɔbk/ noun 1. some-
drawback
downturn /daυnt&n/ noun the move- thing which is not convenient or which is
downturn
ment towards lower prices, sales or profits likely to cause problems 쑗 One of the
쑗 a downturn in the market price 쑗 The main drawbacks of the scheme is that it
last quarter saw a downturn in the econ- will take six years to complete. 2. a rebate
omy. on customs duty for imported goods when
dozen / dz(ə)n/ noun a twelve 쑗 to
dozen
these are then used in producing exports
sell in sets of one dozen 왍 cheaper by the drawee / drɔi/ noun the person or
drawee
dozen the product is cheaper if you buy bank asked to make a payment by a draw-
twelve at a time er
drawer /drɔə/ noun the person who
drawer
Dr, DR abbr 1. debtor 2. drachma

Dr
drachma /drkmə/ noun a former unit

drachma
writes a cheque or a bill asking a drawee
of currency in Greece to pay money to a payee 왍 the bank re-
turned the cheque to drawer the bank
draft /drɑft/ noun 1. an order for mon-
draft
would not pay the cheque because the

ey to be paid by a bank 쑗 We asked for person who wrote it did not have enough
payment by banker’s draft. 왍 to make a money in the account to pay it
draft on a bank to ask a bank to pay
drawing account /drɔŋ əkaυnt/
drawing account
money for you 2. a first rough plan or |
document which has not been finished 쑗 noun a current account, or any account
The finance depart 쑗 A draft of the con- from which the customer may take money
tract or The draft contract is waiting for when he or she wants
drift /drft/ verb to move gradually in a
drift
the MD’s comments. 쑗 He drew up the

draft agreement on the back of an enve- particular direction 쑗 Shares drifted low-
lope. 쐽 verb to make a first rough plan of er in a dull market. 쑗 Strikers are drifting
a document 쑗 to draft a letter 쑗 to draft a back to work.
contract 쑗 The contract is still being drive /drav/ noun 1. an energetic way
drive
drafted or is still in the drafting stage. of doing things 왍 She has a lot of drive
127 dues
she is very energetic in business 2. a part DSS abbr decision support system
DSS
of a machine which makes other parts DTI abbr Department of Trade and In-
DTI
work 쐽 verb 1. to make a motor vehicle dustry

go in a specific direction 쑗 He was driv-
DTP abbr desk-top publishing
DTP
ing to work when he heard the news on the

dubious /djubiəs/ adjective doubtful,
dubious
car radio. 쑗 She drives a company car. 2.

왍 She drives a hard bargain she is a dif- probably not legal 쑗 Dubious business
ficult person to negotiate with practices can cause a collapse of market
driver / dravə/ noun something or
driver
confidence.
duck /dk/ 쏡 lame duck
duck
someone that provides an impetus for

dud /dd/ noun, adjective referring to a
dud
something to happen
driving licence /dravŋ las(ə)ns/
driving licence
coin or banknote which is false or not
noun the official document which shows good, or something which does not do
someone is legally allowed to drive a car, what it is supposed to do (informal) 쑗 The
truck or other vehicle 쑗 Applicants for the £50 note was a dud.
dud cheque /dd tʃek/ noun a
dud cheque
job should hold a valid driving licence.

(NOTE: The US term is driver’s license.) cheque which cannot be cashed because
drop /drɒp/ noun a fall 쑗 a drop in sales
drop
the person writing it has not enough mon-
쑗 Sales show a drop of 10%. 쑗 The drop ey in the account to pay it
due /dju/ adjective 1. owed 쑗 a sum
due
in prices resulted in no significant in-

crease in sales. 쐽 verb 1. to fall 쑗 Sales due from a debtor 왍 to fall or become
have dropped by 10% or have dropped due to be ready for payment 왍 bill due on
10%. 쑗 The pound dropped three points May 1st a bill which has to be paid on
against the dollar. 2. not to keep in a May 1st 왍 balance due to us the amount
product range 쑗 We have dropped these owed to us which should be paid 2. ex-
items from the catalogue because they’ve pected to arrive 쑗 She is due to come for
been losing sales steadily for some time. interview at 10.30. 3. correct and appro-
(NOTE: dropping – dropped) priate in the situation 왍 in due form writ-
‘…while unemployment dropped by 1.6 ten in the correct legal form 쑗 a receipt in
per cent in the rural areas, it rose by 1.9 per due form 쑗 a contract drawn up in due
cent in urban areas during the period under form 왍 after due consideration of the
review’ [Business Times (Lagos)] problem after thinking seriously about
‘…corporate profits for the first quarter the problem 왍 due to caused by 쑗 The
showed a 4 per cent drop from last year’s company pays the wages of staff who are
final three months’ [Financial Times] absent due to illness. 4. expected to do
‘…since last summer American interest something, especially to arrive or appear
rates have dropped by between three and 쑗 The committee is due to report next
four percentage points’ [Sunday Times] month.
drop ship phrasal verb to deliver a ‘…many expect the US economic indica-
large order direct to a customer tors for April, due out this Thursday, to
show faster economic growth’ [Australian
drop shipment /drɒp ʃpmənt/
drop shipment
Financial Review]
noun the delivery of a large order from
due diligence /dju dld$əns/ noun
due diligence
the manufacturer direct to a customer’s

shop or warehouse without going through the examination of a company’s accounts
an agent or wholesaler prior to a potential takeover by another or-
ganisation. This assessment is often un-
drug(s) trafficker /dr!z trfkə/
drug trafficker
dertaken by an independent third party.

noun a person who deals illegally in
dues /djuz/ plural noun 1. regular sub-
dues
drugs 쑗 He was stopped at customs be-

cause they suspected he was a drug traf- scription payments made by a union
ficker. member to the union 2. orders taken but
not supplied until new stock arrives 왍 to
dry goods /dra !υdz/ plural noun
dry goods
release dues to send off orders which had

cloth, clothes and household goods been piling up while a product was out of
dry measure /dra me$ə/ noun a
dry measure
stock 쑗 We have recorded thousands of

way of calculating the quantity of loose dues for that item and our supplier cannot
dry goods (such as corn) supply it.
dull market 128

dull market / dl mɑkt/ noun a mar- duplicating paper /djuplketŋ
dull market duplicating paper
ket where little business is done pepə/ noun a special type of paper for
dullness /dlnəs/ noun the fact of be- use in a duplicating machine
dullness
duplication /djuplkeʃ(ə)n/ noun

duplication
ing dull 쑗 the dullness of the market |
duly / djuli/ adverb 1. properly 쑗 duly the act of doing something that is already
duly
authorised representative 2. as was ex- being done in the same way by somebody
pected 쑗 We duly received his letter of else, copying 왍 duplication of work the
21st October. 쑗 We duly met the union fact of doing the same work twice unnec-
representatives to discuss the takeover. essarily
duplicator / djuplketə/ noun a ma-
duplicator
dummy /dmi/ noun an imitation prod-

dummy
uct to test the reaction of potential cus- chine which makes copies of documents
durable /djυərəb(ə)l/ adjective 왍 du-
durable
tomers to its design

dummy pack /dmi pk/ noun an
dummy pack
rable effects effects which will be felt for
empty pack for display in a shop a long time 쑗 These demographic chang-
es will have durable effects on the econo-
dump /dmp/ verb 왍 to dump goods on
dump
my.
a market to get rid of large quantities of
durable goods /djυərəb(ə)l !υdz/
durable goods
excess goods cheaply in an overseas mar-

ket plural noun goods which will be used for
‘…a serious threat lies in the 400,000
a long time, e.g. washing machines or re-
tonnes of subsidized beef in European cold frigerators
dust cover /dst kvə/ noun a cover
dust cover
stores. If dumped, this meat will have dis-

astrous effects in Pacific Basin markets’ which is put over a machine such as a
[Australian Financial Review] computer to keep dust off
dump bin /dmp bn/ noun a display go Dutch phrasal verb to share the bill
dump bin
container like a large box which is filled in a restaurant

Dutch auction /dtʃ ɔkʃən/ noun
Dutch auction
with goods for sale

dumping /dmpŋ/ noun the act of
dumping
an auction in which the auctioneer offers
getting rid of excess goods cheaply in an an item for sale at a high price and then
overseas market 쑗 The government has gradually reduces the price until someone
passed anti-dumping legislation. 쑗 makes a bid
dutiable goods /djutiəb(ə)l !υdz/
dutiable goods
Dumping of goods on the European mar-

ket is banned. 왍 panic dumping of ster- plural noun goods on which a customs
ling a rush to sell sterling at any price be- duty has to be paid
cause of possible devaluation duty /djuti/ noun 1. a tax which has to
duty
Dun & Bradstreet /dn ən

Dun & Bradstreet
be paid 쑗 Traders are asking the govern-
brdstrit/ noun an organisation which ment to take the duty off alcohol or to put
produces reports on the financial rating of a duty on cigarettes. 왍 goods which are
companies, and also acts as a debt collec- liable to duty goods on which customs or
tion agency. Abbreviation D&B excise tax has to be paid 2. work which
duplicate noun /djuplkət/ a copy 쑗
duplicate
has to be done 왍 on duty doing official
He sent me the duplicate of the contract. work which is part of your job 쑗 She has
왍 duplicate receipt, duplicate of a re- been on duty all day. 쑗 Two security
ceipt copy of a receipt 왍 in duplicate guards were on duty at the time of the
with a copy 쑗 to print an invoice in dupli- theft. 3. a moral or legal obligation 쑗 the
cate 왍 receipt in duplicate two copies of employee’s duty to his employer 쑗 He felt
a receipt 쐽 verb /djuplket/ 1. 왍 to du- he had a duty to show his successor how
plicate with another (of a bookkeeping the job was done.
entry) to repeat another entry or to be the ‘Canadian and European negotiators
same as another entry 2. 왍 to duplicate a agreed to a deal under which Canada could
letter to make a copy of a letter lower its import duties on $150 million
worth of European goods’ [Globe and
duplicating /djuplketŋ/ noun the
duplicating
Mail (Toronto)]
action of copying ‘…the Department of Customs and Excise
duplicating machine
duplicating machine
collected a total of N79m under the new

/djuplketŋ məʃin/ noun a machine
| advance duty payment scheme’ [Business
which makes copies of documents Times (Lagos)]
129 early retirement

duty-free /djuti fri/ adjective, ad- ed States – where they are called ‘per-
duty-free
verb sold with no duty to be paid 쑗 She sonal days’ – than in the United King-
bought duty-free perfume at the airport. 쑗 dom. Organisations that allow them do
He bought the watch duty-free. not usually make them part of written
duty-free shop /djuti fri ʃɒp/
duty-free shop
policy, limit them to two or three per year

noun a shop at an airport or on a ship and sometimes only offer them to key
where goods can be bought without pay- employees.)
ing duty
Dynamic HTML /danmk etʃ ti
Dynamic HTML
duty of care /djuti əv keə/ noun a

duty of care |
em el/ noun a tool for creating limited

duty which every person has not to act in animated graphics on a website that can
a negligent way
be viewed by most browsers. Its major ad-
duty-paid goods /djuti ped !υdz/
duty-paid goods
vantage is that it does not require a plug-

plural noun goods where the duty has
been paid in to be viewed by users. Abbreviation
DHTML
duvet day /duve de/ noun a day on
duvet day
/danmk
dynamic pricing
which an employer allows an employee to dynamic pricing |
call in and say that they do not feel like prasŋ/ noun pricing that changes when
coming to work and will be absent (NOTE: the demand for something increases or
Duvet days are more popular in the Unit- decreases
E
e- /i/ prefix referring to electronics or the to Paris. 왍 we hope for an early resump-
e-
Internet tion of negotiations we hope negotia-

e-address /i ədres/ noun a series of
e-address
|
tions will start again soon
early adopter /&li ədɒptə/ noun an
early adopter
letters and full stops which make up an |
address for email 쑗 my email address is: individual or organisation that is one of
peter&pcp.co.uk the first to make use of a new technology
e-alliance /i əlaəns/ noun a partner- early closing day /&li kləυzŋ de/
e-alliance early closing day
ship between organisations that do busi- noun a weekday, usually Wednesday or

ness over the web. Studies show that the Thursday, when some shops close in the
most successful e-alliances have been afternoon
those that link traditional off-line busi- early majority /&li məd$ɒrti/ noun
early majority
nesses with businesses that specialise in a category of buyers of a product who buy
operating online entities. it later than the early adopters
e. & o.e. abbr errors and omissions ex- early retirement /&li rtaəmənt/
e. & o.e.
early retirement
cepted noun a scheme where a company encour-

early /&l/ adjective, adverb before the
early
ages employees to retire earlier than usu-

usual time 쑗 The mail arrived early. 왍 to al, and receive financial compensation for
take early retirement to retire from work this 쑗 early retirement at fifty-five 쑗 He
before the usual age 왍 at an early date took early retirement. 쑗 The management
very soon 쐽 adjective at the beginning of offered some of the senior staff early re-
a period of time 쑗 He took an early flight tirement.
early withdrawal 130

early withdrawal / &li wðdrɔəl/ earnings performance /&nŋz pə
early withdrawal earnings performance
| |
noun the act of withdrawing money from fɔməns/ noun a way in which shares
a deposit account before the due date 쑗 earn dividends
Early withdrawal usually incurs a penal- earnings per share /&nŋz pə ʃeə/
earnings per share
ty. plural noun the money earned in divi-

earmark /əmɑk/ verb /əmɑk/ to dends per share, shown as a percentage of
earmark
reserve for a special purpose 쑗 to ear- the market price of one share. Abbrevia-
mark funds for a project 쑗 The grant is tion EPS
earmarked for computer systems develop- earnings-related pension /&nŋz
earnings-related pension
ment. rletd penʃən/ noun a pension which

|
earn /&n/ verb 1. to be paid money for

earn
is linked to the size of a person’s salary
earnings yield /&nŋz jild/ noun
earnings yield
working 쑗 to earn £100 a week 쑗 Our

agent in Paris certainly does not earn his the money earned in dividends per share
commission. 쑗 Her new job is more of a as a percentage of the current market
transfer than a promotion, since she price of the share
doesn’t earn any more. 쑗 How much do ease /iz/ verb to fall a little 쑗 The share
ease
you earn in your new job? 2. to produce index eased slightly today. 쐽 noun a
interest or dividends 쑗 a building society slight fall in prices
account which earns interest at 10% 쑗 easement /izmənt/ noun a right
easement
What level of dividend do these shares which someone has to use land belonging
earn? to someone else (such as for a path across
earned income /&nd nkm/ noun
earned income
someone’s land to a garage)

income from wages, salaries, pensions, easily /izli/ adverb 1. without any dif-
easily
fees, rental income, etc., as opposed to ficulty 쑗 we passed through customs eas-
‘unearned’ income from investments ily 2. much, a lot (compared to something
earnest /&nst/ noun money paid as
earnest
else) 쑗 He is easily our best salesman. 쑗

an initial payment by a buyer to a seller, to The firm is easily the biggest in the mar-
show commitment to the contract of sale ket.
earning capacity /&nŋ kəpsti/ easy /izi/ adjective 1. not difficult 2.
earning capacity easy
noun the amount of money someone referring to a market where few people
should be able to earn are buying, so prices are lower than they
earning potential /&nŋ pətenʃəl/
earning potential
were before 쑗 The Stock Exchange was
easy yesterday. 왍 share prices are easier
|
noun 1. the amount of money a person

should be able to earn in his or her profes- prices have fallen slightly
easy market /izi mɑkt/ noun a
easy market
sional capacity 2. the amount of dividend

which a share is capable of earning market where few people are buying, so
prices are lower than they were before 쑗
earning power /&nŋ paυə/ noun
earning power
The Stock Exchange was easy yesterday.

the amount of money someone should be
easy monetary policy /izi
easy monetary policy
able to earn 쑗 She is such a fine designer

that her earning power is very large. mnt(ə)ri pɒlsi/ noun same as easy
money policy
earnings /&nŋz/ plural noun 1. sala-
earnings
easy money /izi mni/ noun 1.

easy money
ry, wages, dividends or interest received

쑗 High earnings in top management re-
money which can be earned with no diffi-
flect the heavy responsibilities involved. culty 2. a loan available on easy repay-
쑗 The calculation is based on average
ment terms
easy money policy /izi mni
easy money policy
earnings over three years. 2. money

which is earned in interest or dividend pɒlsi/ noun a government policy of ex-
‘…the US now accounts for more than panding the economy by making money
half of our world-wide sales. It has made a more easily available, e.g. through lower
huge contribution to our earnings turna- interest rates and easy access to credit
easy terms /izi t&mz/ plural noun
easy terms
round’ [Duns Business Month]

‘…last fiscal year the chain reported a financial terms which are not difficult to
116% jump in earnings, to $6.4 million or accept 쑗 The shop is let on very easy
$1.10 a share’ [Barrons] terms.
131 economic order quantity

e-business /i bznəs/ noun 1. a gen- economic situation is getting worse. 쑗
e-business
eral term that refers to any type of busi- The country’s economic system needs
ness activity on the Internet, including more regulation.
marketing, branding and research 쑗 E- ‘…each of the major issues on the agenda
business is a rising part of the economy. at this week’s meeting is important to the
2. a company that does its business using government’s success in overall economic
the Internet management’
‘…the enormous potential of e-business is [Australian Financial Review]
economical /ikənɒmk(ə)l/ adjec-
economical
that it can automate the link between sup- |
pliers and customers’ [Investors Chroni- tive saving money or materials or being
cle] less expensive 쑗 This car is very econom-
EC abbr European Community (NOTE:
EC
ical. 왍 economical car a car which does
now called the European Union) not use much petrol 왍 an economical use
ECB abbr European Central Bank
ECB
of resources the fact of using resources as
carefully as possible
ECGD abbr Export Credit Guarantee
ECGD
economic crisis /ikənɒmk

economic crisis
Department
krass/, economic depression /ikə
echelon /eʃəlɒn/ noun a group of peo-
echelon |
nɒmk dpreʃ(ə)n/ noun a situation

ple of a certain grade in an organisation 쑗
|
where a country is in financial collapse 쑗

the upper echelons of industry 쑗 Commu- The government has introduced import
nications have improved between the controls to solve the current economic
higher and lower echelons in the compa- crisis.
ny.
economic cycle /ikənɒmk
economic cycle
ecological priority /ikəlɒd$k(ə)l

ecological priority
|
sak(ə)l/ noun a period during which
praɒrti/ noun the need for organisa-
|
trade expands, then slows down and then

tions and governments to pay as much at- expands again
tention to protecting the environment as
economic development
economic development
to achieving economic success

/ikənɒmk dveləpmənt/ noun the ex-
e-commerce /i kɒm&s/ noun a gen-
e-commerce |
pansion of the commercial and financial

eral term that is usually used to refer to situation 쑗 The government has offered
the process of buying and selling goods tax incentives to speed up the economic
over the Internet development of the region. 쑗 Economic
‘…the problem is that if e-commerce takes development has been relatively slow in
just a 3 per cent slice of the market that the north, compared with the rest of the
would be enough to reduce margins to rib- country.
bons’ [Investors Chronicle]
economic growth /ikənɒmk
economic growth
‘…the new economy requires new compa-

ny structures. He believes that other blue- !rəυθ/ noun the rate at which a country’s
chip organizations are going to find that national income grows
economic indicator /ikənɒmk
economic indicator
new set-ups would be needed to attract and

retain the best talent for e-commerce’ ndketəz/ noun various statistics, e.g.
[Times] for the unemployment rate or overseas
econometrics /kɒnəmetrks/ plu- trade, which show how the economy is
econometrics
| |
ral noun the study of the statistics of eco- going to perform in the short or long term
nomics, using computers to analyse these economic model /ikənɒmk
economic model
statistics and make forecasts using math- mɒd(ə)l/ noun a computerised plan of a
ematical models country’s economic system, used for fore-
economic /ikənɒmk/ adjective 1. casting economic trends
economic
economic order quantity

economic order quantity
providing enough money to make a profit

쑗 The flat is let at an economic rent. 쑗 It /ikənɒmk ɔdə kwɒntti/ noun the
is hardly economic for the company to quantity of stocks which a company
run its own warehouse. 2. referring to the should hold, calculated on the basis of the
financial state of a country 쑗 economic costs of warehousing, of lower unit costs
planning 쑗 economic trends 쑗 Economic because of higher quantities purchased,
planners are expecting a consumer-led the rate at which stocks are used and the
boom. 쑗 The government’s economic pol- time it takes for suppliers to deliver new
icy is in ruins after the devaluation. 쑗 The orders. Abbreviation EOQ
economic planning 132

economic planning /ikənɒmk structures, huge expenditures on social
economic planning
plnŋ/ noun the process of planning welfare programs and restrictions on the
the future financial state of the country for free movement of goods’ [Duns Business
the government Month]
economy car /kɒnəmi kɑ/ noun a
economy car
economics /ikənɒmks/ noun the

economics
|
|
study of the production, distribution, sell- car which does not use much petrol
economy class /kɒnəmi klɑs/
economy class
ing and use of goods and services 쐽 plural |
noun the study of financial structures to noun a lower-quality, less expensive way
show how a product or service is costed of travelling 쑗 I travel economy class be-
and what returns it produces 쑗 I do not cause it is cheaper. 쑗 I always travels first
understand the economics of the coal in- class because economy class is too un-
dustry. (NOTE: [all senses] takes a singu- comfortable.
economy drive /kɒnəmi drav/
economy drive
lar verb) |
‘…believers in free-market economics of- noun a vigorous effort to save money or

ten find it hard to sort out their views on materials
the issue’ [Economist] economy measure /kɒnəmi
economy measure
economic sanctions /ikənɒmk me$ə/ noun an action to save money or

economic sanctions
sŋkʃ(ə)ns/ plural noun restrictions on materials

trade with a country in order to influence economy size /kɒnəmi saz/ noun a
economy size
its political situation or in order to make large size or large packet which is cheaper
its government change its policy 쑗 to im- than usual
pose economic sanctions on a country edge /ed$/ noun an advantage 쑗 Having
edge
economic stagnation /ikənɒmk

economic stagnation
a local office gives us a competitive edge

st!neʃ(ə)n/ noun a lack of expansion
| over Smith Ltd. 왍 to have the edge on a
in the economy rival company to be slightly more profit-
economic trend /ikənɒmk trend/ able or to have a slightly larger share of
economic trend
noun the way in which a country’s econ- the market than a rival
omy is moving ‘…the leading index edged down slightly
economies of scale /kɒnəmiz əv
economies of scale
|
for the week ended May 13, its first drop
in six weeks’ [Business Week]
skel/ plural noun a situation in which a
product is made more profitable by man- ‘…the evidence suggests that US compa-
ufacturing it in larger quantities so that nies have not lost their competitive edge
over the last 20 years’ [Harvard Business
each unit costs less to make. Compare di- Review]
seconomies of scale
EDI abbr electronic data interchange
EDI
economist / kɒnəmst/ noun a per-

economist
editor /edtə/ noun a person in charge

| editor
son who specialises in the study of eco-

nomics 쑗 Government economists are of a newspaper or a section of a newspa-
forecasting a growth rate of 3% next year. per 쑗 the editor of the ‘Times’
editorial /edtɔriəl/ adjective refer-
editorial
쑗 An agricultural economist studies the |
economics of the agriculture industry. ring to editors or to editing 쐽 noun the

main article in a newspaper, written by the
economize /kɒnəmaz/ verb 왍 to
economize
editor
economize on petrol to save petrol
editorial board / edtɔriəl bɔd/
editorial board
economy /kɒnəm/ noun 1. an action

economy |
|
noun a group of editors on a newspaper or
which is intended to stop money or mate- other publication
rials from being wasted, or the quality of
EDP abbr electronic data processing
EDP
being careful not to waste money or mate-

rials 왍 to introduce economies or econ- EEA abbr European Economic Area
EEA
EEC abbr European Economic Commu-

EEC
omy measures into the system to start

using methods to save money or materials nity (NOTE: now called the European
2. the financial state of a country, or the Union (EU))
way in which a country makes and uses its effect /fekt/ noun 1. a result 쑗 The ef-
effect
money 쑗 The country’s economy is in ru- fect of the pay increase was to raise pro-
ins. ductivity levels. 2. an operation 왍 terms
‘…the European economies are being held of a contract which take effect or come
back by rigid labor markets and wage into effect from January 1st terms
133 elasticity
which start to operate on January 1st 왍 called in an efficiency expert to report on
prices are increased 10% with effect ways of increasing profitability.
from January 1st new prices will apply ‘…increased control means improved effi-
from January 1st 왍 to remain in effect to ciency in purchasing, shipping, sales and
continue to be applied 3. meaning 왍 a delivery’ [Duns Business Month]
clause to the effect that a clause which efficient /fʃ(ə)nt/ adjective able to
efficient
means that 왍 we have made provision to

|
work well or to produce the right result

this effect we have put into the contract quickly 쑗 the efficient working of a sys-
terms which will make this work 쐽 verb tem 쑗 An efficient assistant is invaluable.
to carry out 왍 to effect a payment to 쑗 An efficient new machine would save
make a payment 왍 to effect customs time.
clearance to clear something through efficiently /fʃ(ə)ntli/ adverb in an
efficiently
customs 왍 to effect a settlement be-

|
efficient way 쑗 She organised the sales

tween two parties to bring two parties to- conference very efficiently.
gether and make them agree to a settle-
efflux /eflks/ noun the act of flowing
efflux
ment
out 쑗 the efflux of capital to North Amer-
effective /fektv/ adjective 1. actual,
effective
|
ica
as opposed to theoretical 2. 왍 a clause ef- effort /efət/ noun an act of using the
effort
fective as from January 1st a clause mind or body to do something 쑗 The sales
which starts to be applied on January 1st staff made great efforts to increase sales.
3. producing results 쑗 Advertising in the 쑗 Thanks to the efforts of the finance de-
Sunday papers is the most effective way of partment, overheads have been reduced.
selling. 쑗 She is an effective marketing 쑗 If we make one more effort, we should
manager. 쒁 cost-effective clear the backlog of orders.
effective control /fektv kəntrəυl/
effective control
EFQM
| |
EFQM abbr European Foundation for
noun a situation where someone owns a Quality Management
large number of shares in a company, but
EFT abbr electronic funds transfer
EFT
less than 50%, and so in effect controls

EFTA abbr European Free Trade Associ-
EFTA
the company because no other single

shareholder can outvote him or her ation
EFTPOS abbr electronic funds transfer
EFTPOS
effective date /fektv det/ noun the

effective date
date on which a rule or contract starts to at point of sale

e.g. /id$i/ e.g. or such as 쑗 The con-
e.g.
be applied, or on which a transaction |
takes place tract is valid in some countries (e.g.

France and Belgium) but not in others.
effective demand /fektv d
effective demand
| |
EGM abbr extraordinary general meet-

EGM
mɑnd/ noun the actual demand for a

product which can be paid for ing
800 number /ethndrəd nmbə/
800 number
effectiveness /fektvnəs/ noun the

effectiveness
|
US toll-free number, telephone number

quality of working successfully or pro- beginning with the digits 800, on which
ducing results 쑗 I doubt the effectiveness calls can be made free of charge, such as
of television advertising. 쑗 Her effective- to reply to an ad (the supplier pays for
ness as a manager was due to her quick them, not the caller) (NOTE: The UK term
grasp of detail. 쒁 cost-effectiveness is 0800 number.)
effective yield /fektv jild/ noun
effective yield
eighty/twenty law /eti twenti rul/,

eighty/twenty law
|
an actual yield shown as a percentage of 80/20 law noun the rule that a small per-
the price paid after adjustments have been centage of customers may account for a
made large percentage of sales. 쒁 Pareto’s Law
effectual /fektʃuəl/ adjective which
effectual
elastic /lstk/ adjective able to ex-

elastic
|
|
produces a correct result pand or contract easily because of small

efficiency /fʃ(ə)nsi/ noun the ability changes in price
efficiency
elasticity /lststi/ noun the ability

elasticity
to work well or to produce the right result |
or the right work quickly 쑗 a business ef- to change easily in response to a change
ficiency exhibition 쑗 The bus system is in circumstances 왍 elasticity of supply
run with a high degree of efficiency. 쑗 We and demand changes in supply and de-
elect 134
mand of an item depending on its market electronic engineer /elektrɒnk
electronic engineer
price end$nə/ noun an engineer who spe-

|
elect /lekt/ verb 1. to choose someone cializes in electronic machines

elect
by a vote 쑗 to elect the officers of an as- electronic

electronic funds transfer
funds transfer
sociation 쑗 She was elected president of /elektrɒnk fndz trnsf& ət pɔnt
the staff club. 2. to choose to do some- əv sel/ noun the system used by bank-
thing 쑗 He elected to take early retire- ing organisations for the movement of
ment. funds between accounts and for the provi-
-elect /lekt/ suffix referring to a person
-elect
sion of services to the customer. Abbrevi-

who has been elected but has not yet start- ation EFT
ed the term of office electronic funds transfer at point
electronic funds transfer at point of sale
election /lekʃən/ noun the act of of sale /elektrɒnk fndz trnsf&
election
electing someone 쑗 the election of offic- ət pɔnt əv sel/ noun the payment for
ers of an association 쑗 the election of di- goods or services by a bank customer us-
rectors by the shareholders ing a card that is swiped through an elec-
electric /lektrk/ adjective referring tronic reader on the till, thereby transfer-
electric
to electricity; worked by electricity 쑗 an ring the cash from the customer’s account
electric typewriter to the retailer’s or service provider’s ac-
electrical /lektrk(ə)l/ adjective re-
electrical
|
count. Abbreviation EFTPOS
electronic mail /elktrɒnk mel/
electronic mail
ferring to electricity 쑗 The engineers are

trying to repair an electrical fault. noun same as email noun 1
electricity /lektrsti/ noun a current electronic point of sale /elktrɒnk
electricity electronic point of sale
| |
used to make light, heat or power 쑗 The pɔnt əv sel/ noun a system where sales
electricity was cut off this morning, so the are charged automatically to a customer’s
computers could not work. 쑗 Our elec- credit card and stock is controlled by the
tricity bill has increased considerably this shop’s computer. Abbreviation EPOS
quarter. 쑗 Electricity costs are an impor- electronics /elektrɒnks/ plural
electronics
tant factor in our overheads. noun the scientific study of systems

electronic /elektrɒnk/ adjective re- worked by a flow of electrons which are
electronic
ferring to computers and electronics used in manufactured products, such as

electronic banking /elektrɒnk
electronic banking
computers, calculators or telephones 쑗
bŋkŋ/ noun the use of computers to the electronics industry 쑗 an electronics
carry out banking transactions such as specialist or expert 쑗 an electronics engi-
withdrawals through cash dispensers or neer (NOTE: takes a singular verb)
element /elmənt/ noun a basic part or
element
transfer of funds at point of sale

electronic cash /elektrɒnk kʃ/ the smallest unit into which something
electronic cash
noun same as digital cash can be divided 쑗 the elements of a settle-

electronic cheque /elektrɒnk
electronic cheque
ment 쑗 Work study resulted in a standard
tʃek/ noun a system that transfers money time for each job element.
eligibility /eld$blti/ noun the fact
eligibility
electronically from the buyer’s current ac- |
count to the seller’s bank account of being eligible 쑗 The chairman ques-
electronic commerce /elektrɒnk
electronic commerce
tioned her eligibility to stand for re-elec-
kɒm&s/ noun same as e-commerce tion.
eligible /eld$b(ə)l/ adjective possible
eligible
electronic data interchange

electronic data interchange
/elektrɒnk detə ntətʃend$/ noun to choose 쑗 She is eligible for re-election.

eligible bill /eld$əb(ə)l bl/ noun a
eligible bill
a standard format used when business

documents such as invoices and purchase bill which will be accepted by the Bank of
orders are exchanged over electronic net- England or the US Federal Reserve, and
works such as the Internet. Abbreviation which can be used as security against a
EDI loan
electronic data processing eliminate /lmnet/ verb to remove 쑗
electronic data processing eliminate
/elektrɒnk detə prəυsesŋ/ noun to eliminate defects in the system 쑗 Using

the process of selecting and examining a computer should eliminate all possibil-
data stored in a computer to produce in- ity of error. 쑗 We have decided to elimi-
formation. Abbreviation EDP nate this series of old products from our
135 emoluments
range. 쑗 Most of the candidates were 1. to stop trade, or not to allow something
eliminated after the first batch of tests. to be traded 쑗 The government has em-
email /imel/, e-mail /i mel/ noun 1. bargoed trade with the Eastern countries.
email
a system of sending messages from one 2. not to allow publication of information

computer terminal to another, using a mo- for a period of time 쑗 The news of the
dem and telephone lines 쑗 You can con- merger has been embargoed until next
tact me by phone or email if you want. 2. Wednesday.
a message sent electronically 쑗 I had six ‘…the Commerce Department is planning
emails from him today. 쐽 verb to send a to loosen export controls for products that
message from one computer to another, have been embargoed but are readily
using a modem and telephone lines 쑗 She available elsewhere in the West’ [Duns
emailed her order to the warehouse. 쑗 I Business Month]
embark /mbɑk/ verb 1. to go on a
embark
emailed him about the meeting. |
email address /imel ədres/ noun a

email address
ship 쑗 the passengers embarked at South-
ampton 2. 왍 to embark on to start 쑗 The
|
series of letters and full stops which make

up an address for email 쑗 my email ad- company has embarked on an expansion
dress is: peter&pcp.co.uk 쑗 I’ll give you programme.
embarkation /embɑkeʃ(ə)n/ noun
embarkation
my email address. |
emailing /imelŋ/ noun the process the act of going on to a ship or plane
emailing
of sending something by email embarkation card /embɑkeʃ(ə)n

embarkation card
email mailing list /imel melŋ

email mailing list
kɑd/ noun a card given to passengers

lst/ noun a marketing technique that in- getting on to a plane or ship
volves contacting a group of people from embezzle /mbez(ə)l/ verb to use ille-
embezzle
anywhere in the world and inviting them gally money which is not yours, or which
to discuss a particular topic and share in- you are looking after for someone 쑗 He
formation and experience by email (NOTE: was sent to prison for six months for em-
An email mailing list is run by a modera- bezzling his clients’ money.
tor who compiles a list of email address- embezzlement
embezzlement /mbez(ə)lmənt/ |
es for possible members, mails them noun the act of embezzling 쑗 He was sent
with the theme for discussion, collects to prison for six months for embezzle-
their contributions, and publishes them ment.
by email so that other members of the
embezzler /mbez(ə)lə/ noun a per-
embezzler
group can respond to them.) |
son who embezzles

e-mail signature /i mel s!ntʃə/
e-mail signature
emergency /m&d$ənsi/ noun a dan-

emergency
noun a piece of text at the bottom of an e- |
mail, which contains information about gerous situation where decisions have to
the sender be taken quickly 왍 to take emergency
e-marketplace /i mɑktples/
e-marketplace measures to take action rapidly to stop a
noun a network of connections that
crisis developing 쑗 The company had to
take emergency measures to stop losing
brings business-to-business buyers and
sellers together on the Internet and ena- money.
emergency reserves / m&d$(ə)nsi
emergency reserves
bles them to trade more efficiently online |
embargo /mbɑ!əυ/ noun 1. a gov-

embargo
|
rz&vz/ noun ready cash held in case it
|
ernment order which stops a type of trade is needed suddenly

왍 to lay or put an embargo on trade emission credits /mʃ(ə)n
emission credits
with a country to say that trade with a kredts/ plural noun theoretical reduc-
country must not take place 쑗 The gov- tions in emissions of CO2 and other
ernment has put an embargo on the export greenhouse gases which can be bought by
of computer equipment. 왍 to lift an em- a country from others who do not need
bargo to allow trade to start again 쑗 The them and set against its targets. They are
government has lifted the embargo on the allowed under the Kyoto treaty.
export of computers. 왍 to be under an emoluments /mɒljυmənts/ plural
emoluments
embargo to be forbidden 2. a period of noun pay, salary or fees, or the earnings

time during which specific information in of directors who are not employees
a press release must not be published (NOTE: US English uses the singular
(NOTE: The plural is embargoes.) 쐽 verb emolument.)
emotional capital 136

emotional capital /məυʃ(ə)n(ə)l employer’s contribution /mplɔəz
emotional capital employer’s contribution
| |
kpt(ə)l/ noun the emotional skills and kɒntrbjuʃ(ə)n/ noun money paid by
|
experiences of employees, which give an employer towards an employee’s pen-

them the ability to communicate and form sion
interpersonal relationships successfully, employers’ liability insurance /m
employers’ liability insurance
considered as an intangible asset of a plɔəz laəblti nʃυərəns/ noun in-

| |
company. Emotional capital is increasing- surance to cover accidents which may

ly being considered to be an important happen at work, and for which the compa-
factor in company performance. ny may be responsible
employ /mplɔ/ verb to give someone
employ
employers’ organisation /m

employers’ organisation
|
regular paid work 왍 to employ twenty

|
plɔəz ɔ!ənazeʃ(ə)n/, employers’ |
staff to have twenty people working for association /mplɔəz əsəυsi eʃ(ə)n/
you 왍 to employ twenty new staff to give
| |
noun a group of employers with similar

work to twenty new people interests
‘70 per cent of Australia’s labour force
employment /mplɔmənt/ noun reg-
employment
was employed in service activity’

|
[Australian Financial Review] ular paid work 왍 to be without employ-

ment to have no work
employed /mplɔd/ adjective 1. in
employed
regular paid work 왍 he is not gainfully ‘…the blue-collar unions are the people
who stand to lose most in terms of employ-
employed he has no regular paid work 2. ment growth’ [Sydney Morning Herald]
referring to money used profitably 쐽 plu-
employment agency /mplɔmənt
employment agency
ral noun people who are working 쑗 the |
employers and the employed ed$ənsi/ noun an office which finds

jobs for staff
employee /mplɔi/ noun a person
employee
employment bureau /mplɔmənt

|
employment bureau
employed by another 쑗 Employees of the |
firm are eligible to join a profit-sharing bjυərəυ/ noun an office which finds
scheme. 쑗 Relations between manage- jobs for people
employment contract /mplɔmənt
employment contract
ment and employees are good. 쑗 The |
company has decided to take on new em- kɒntrkt/ noun same as contract of
ployees. employment
employment office /mplɔmənt
employment office
‘…companies introducing robotics think it |
important to involve individual employees ɒfs/ noun an office which finds jobs for
in planning their introduction’ [Econo- people
mist]
employment opportunities /m
employment opportunities
employee development /mplɔi

employee development |
|
plɔmənt ɒpətjuntiz/ plural noun
dveləpmənt/ noun additional training
|
|
new jobs being available. Also called job
dedicated to increasing the skills, knowl- opportunities
edge and experience of employees in or-
employment protection /m
employment protection
der to improve their performance |
plɔmənt prətekʃən/ noun the action|
employee share ownership plan

employee share ownership plan
of protecting employees against unfair

/mplɔi ʃeə əυnəʃp pln/, employ-
|
dismissal
ee share ownership programme /m
employment tribunal /mplɔmənt
| employment tribunal
plɔi ʃeər əυnəʃp prəυ!rm/, em- |
ployee share scheme /mplɔi ʃeə |

trabjunəl/ noun a government body
|
skim/ noun a plan which allows employ- responsible for dealing with disputes be-
ees to obtain shares in the company for tween employees and employers
emporium /mpɔriəm/ noun a large
emporium
which they work, though tax may be pay- |
able if the shares are sold to employees at shop (NOTE: The plural is emporia.)
a price which is lower than the current empower /mpaυə/ verb to give some-
empower
market price. Abbreviation ESOP one the power to do something 쑗 She was
employer /mplɔə/ noun a person or empowered by the company to sign the
employer
company that has regular employees and contract. 쑗 Her new position empowers
pays them her to hire and fire at will.
employer’s association /mplɔəz empowerment /mpaυəmənt/ noun
employer’s association empowerment
| |
əsəυsieʃ(ə)n/ noun same as employ-

| | the act of giving someone (such as an em-
ers’ organisation ployee) the power to take decisions
137 endowment
‘…a district-level empowerment pro- property or land, e.g. a mortgage or
gramme run in one of the government’s charge
executive agencies failed because middle end /end/ noun 1. the final point or last
end
managers blocked it. Empowerment was part 쑗 at the end of the contract period 왍
officially defined by the agency as involv- at the end of six months after six months
ing delegation of responsibility and the en-
couragement of innovation’ [People Man- have passed 왍 to come to an end to finish
쑗 Our distribution agreement comes to an
agement]
end next month. 2. 왍 in the end at last, af-
empties /emptiz/ plural noun empty
empties
ter a lot of problems 쑗 In the end the com-

bottles or cases pany had to pull out of the US market. 쑗
emptor /emptə/ noun 쏡 caveat emp-
emptor
In the end they signed the contract at the

tor airport. 쑗 In the end the company had to
enc
enc, encl abbr enclosure call in the police. 3. 왍 on end for a long
time, with no breaks 쑗 The discussions
encash /nkʃ/ verb to cash a cheque,
encash
continued for hours on end. 쑗 The work-

to exchange a cheque for cash force worked at top speed for weeks on
encashable /nkʃəb(ə)l/ adjective
encashable
|
end to finish the order on time. 쐽 verb to
possible to cash finish 쑗 The distribution agreement ends
encashment /nkʃmənt/ noun an in July. 쑗 The chairman ended the discus-
encashment
act of exchanging for cash sion by getting up and walking out of the
enclose /nkləυz/ verb to put some-
enclose
|
room.
thing inside an envelope with a letter 쑗 to end in phrasal verb to have as a result
enclose an invoice with a letter 쑗 I am en- 쑗 The AGM ended in the shareholders
closing a copy of the contract. 쑗 Please fighting on the floor.
find the cheque enclosed herewith. 쑗 end up phrasal verb to finish 쑗 We
Please enclose a recent photograph with ended up with a bill for £10,000.
end of season sale /end əv
end of season sale
your CV.
enclosure /nkləυ$ə/ noun a docu-
enclosure
siz(ə)n sel/ noun a sale of goods at a
|
ment enclosed with a letter or package 쑗 lower price when the season in which
a letter with enclosures 쑗 The enclosure they would be used is over such as sum-
turned out to be a free sample of perfume. mer clothes sold cheaply in the autumn
endorsee /endɔsi/ noun a person
endorsee
쑗 Sales material on other products was |
sent out as an enclosure. whose name is written on a bill or cheque

as having the right to cash it
encourage /nkrd$/ verb 1. to make
encourage
endorsement /ndɔsmənt/ noun 1.

| endorsement
it easier for something to happen 쑗 The |
general rise in wages encourages con- the act of endorsing 2. a signature on a

sumer spending. 쑗 Leaving your credit document which endorses it 3. a note on
cards on your desk encourages people to an insurance policy which adds condi-
steal or encourages stealing. 쑗 The com- tions to the policy
endorsement advertising /n
endorsement advertising
pany is trying to encourage sales by giv- |
ing large discounts. 2. to help someone to dɔsmənt dvətazŋ/ noun same as

do something by giving advice 쑗 He en- product endorsement
endorser /ndɔsə/ noun a person who
endorser
couraged me to apply for the job. |
encouragement
encouragement /nkrd$mənt/ |
endorses a bill or cheque which is then
noun the act of giving advice to someone paid to him or her
endowment /ndaυmənt/ noun the
endowment
to help them to succeed 쑗 The designers |
produced a very marketable product, act of giving money to provide a regular

thanks to the encouragement of the sales income
director. 쑗 My family has been a source of COMMENT: The borrower pays interest on
great encouragement to me. the mortgage in the usual way, but does
not repay the capital; the endowment as-
encryption /nkrpʃən/ noun a con-
encryption
| surance (a life insurance) is taken out to

version of plain text to a secure coded cover the total capital sum borrowed,
form by means of a cipher system and when the assurance matures the
capital is paid off, and a further lump sum
encumbrance /nkmbrəns/ noun a
encumbrance
|
is usually available for payment to the
liability which is attached usually to a borrower; a mortgage where the borrow-
endowment assurance 138

er repays both interest and capital is obeyed 쑗 enforcement of the terms of a
called a ‘repayment mortgage’. contract
/ n
endowment assurance
endowment assurance |
engage /n!ed$/ verb 1. to arrange to
engage
daυmənt nʃυərəns/, endowment in-

|
|
employ employees or advisors 쑗 If we in-
surance noun an insurance policy where crease production we will need to engage
a sum of money is paid to the insured per- more machinists. 쑗 She was engaged as a
son on a specific date or to his heirs if he temporary replacement for the marketing
dies before that date manager who was ill. 쑗 The company has
endowment mortgage / ndaυmənt engaged twenty new sales representa-
endowment mortgage
mɔ!d$/ noun a mortgage backed by an tives. 왍 to engage someone to do some-

endowment policy thing to make someone do something le-
endowment policy /ndaυmənt
endowment policy
|
gally 쑗 The contract engages us to a min-
pɒlsi/ noun same as endowment as- imum annual purchase. 2. to employ 쑗
surance We have engaged the best commercial
lawyer to represent us. 쑗 The company
end product /end prɒdkt/ noun a
end product
has engaged twenty new salesmen. 3. 왍 to

manufactured product resulting from a be engaged in to be busy with 쑗 He is en-
production process gaged in work on computers. 쑗 The com-
end user /end juzə/ noun a person
end user
pany is engaged in trade with Africa.

who actually uses a product engaged /n!ed$d/ adjective busy
engaged
energetic /enəd$etk/ adjective with

energetic
| (telephone) 쑗 You cannot speak to the

a lot of energy 쑗 The sales staff have manager – his line is engaged.
made energetic attempts to sell the prod- engaged tone /n!ed$d təυn/ noun
engaged tone
uct. a sound made by a telephone when the

energy /enəd$i/ noun 1. a force or line dialled is busy 쑗 I tried to phone the
energy
strength 쑗 She hasn’t the energy to be a complaints department but got only the
good salesman. 쑗 They wasted their ener- engaged tone.
gies on trying to sell cars in the German engagement /n!ed$mənt/ noun an
engagement
market. (NOTE: The plural is energies.) agreement to do something 왍 to break an

2. power produced from electricity, petrol engagement to do something not to do
or a similar source 쑗 We try to save ener- what you have legally agreed 쑗 Our
gy by switching off the lights when the agents broke their engagement not to sell
rooms are empty. 쑗 If you reduce the room our rivals’ products.
temperature to eighteen degrees, you will engagements /n!ed$mənts/ noun
engagements
save energy. arrangements to meet people 쑗 I have no

conservation /enəd$i
energy conservation
energy engagements for the rest of the day. 쑗 She

kɒnsəveʃ(ə)n/ noun the process of
| noted the appointment in her engage-
saving energy and keeping fuel consump- ments diary.
tion as low as possible by controlling the engine /end$n/ noun a machine
engine
amounts of electricity, gas, and other fu- which drives something 쑗 A car with a
els used in the workplace. Energy conser- small engine is more economical than one
vation can help to reduce costs and dam- with a large one. 쑗 The lift engine has
age to the environment. broken down again – we shall just have to
energy-saving /enəd$i sevŋ/ ad-
energy-saving
walk up to the 4th floor.

jective which saves energy 쑗 The compa- engineer /end$nə/ noun a person
engineer
ny is introducing energy-saving meas- who looks after technical equipment

ures. engineering /end$nərŋ/ noun the
engineering
energy-saving device /enəd$i science of technical equipment 왍 an engi-

energy-saving device
sevŋ dvas/ noun a machine which

|
neering consultant an engineer who
saves energy or labour gives specialist advice
enforce /nfɔs/ verb to make sure engineering department /end$
enforce engineering department
| |
something is done or that a rule is obeyed nərŋ dpɑtmənt/ noun a section of a

|
쑗 to enforce the terms of a contract company dealing with equipment

enforcement / nfɔsmənt/ noun the enquire, enquiry /nkwaə, n
enforcement enquire, enquiry
| | |
act of making sure that something is kwaəri/ same as inquire, inquiry

139 entry
en route /ɒn rut/ adverb on the way tion and theatre tickets for the comfort
en route
쑗 The tanker sank when she was en route and enjoyment of business visitors 2. to
to the Gulf. be ready to consider (a proposal) 쑗 The
entail /ntel/ noun a legal condition management will not entertain any sug-
entail
which passes ownership of a property gestions from the union representatives.

only to some specific persons 쐽 verb to /entətenmənt/
entertainment
entertainment |
involve 쑗 Itemising the sales figures will noun the practice of offering meals or
entail about ten days’ work. other recreation to business visitors
enter /entə/ verb 1. to go in 쑗 They all entertainment allowance /entə
enter
entertainment allowance
stood up when the chairman entered the tenmənt əlaυəns/ noun money which
|
room. 쑗 The company has spent millions managers are allowed by their company
trying to enter the do-it-yourself market. to spend on meals with visitors
2. to write 쑗 to enter a name on a list 쑗 entertainment expenses /entə
entertainment expenses
The clerk entered the interest in my bank tenmənt kspensz/ plural noun mon-
book. 쑗 She entered a competition for a
|
ey spent on giving meals to business visi-

holiday in Greece. 쑗 They entered the tors
sum in the ledger. 왍 to enter a bid for
entitle /ntat(ə)l/ verb to give the right
entitle
something to offer (usually in writing) to |
buy something 왍 to enter a caveat to to someone to have something 쑗 After

warn legally that you have an interest in a one year’s service the employee is entitled
case, and that no steps can be taken with- to four weeks’ holiday. 왍 he is entitled to
out your permission a discount he has the right to be given a
enter into phrasal verb to begin 쑗 to discount
entitlement /ntat(ə)lmənt/ noun a
entitlement
enter into relations with someone 쑗 to |
enter into negotiations with a foreign person’s right to something

government 쑗 to enter into a partner- entrance /entrəns/ noun 1. a way in 쑗
entrance
ship with a friend 쑗 The company does The taxi will drop you at the main en-
not want to enter into any long-term trance. 쑗 Deliveries should be made to
agreement. the London Road entrance. 2. money
entering /entərŋ/ noun the act of
entering
which you have to pay to go in some-

writing items in a record where 쑗 Entrance is £1.50 for adults and
enterprise /entəpraz/ noun 1. initia- £1 for children.
enterprise
tive or willingness to take risks or to take entrepot port /ɒntrəpəυ pɔt/ noun a
entrepot port
responsibility 쑗 We are looking for enter- town with a large international commer-
prise and ambition in our top managers. cial port dealing in re-exports
2. a system of carrying on a business 3. a entrepot trade /ɒntrəpəυ tred/
entrepot trade
business noun the exporting of imported goods

enterprise portal /entəpraz
enterprise portal
entrepreneur /ɒntrəprən&/ noun a

entrepreneur
pɔt(ə)l/ noun a website that contains a

|
wide variety of information and services person who directs a company and takes
useful to the employees of a particular or- commercial risks
entrepreneurial /ɒntrəprən&riəl/
entrepreneurial
ganisation for their work (NOTE: The es- |
sential difference between an enterprise adjective taking commercial risks 쑗 an

portal and an intranet is that an enter- entrepreneurial decision
entrust / ntrst/ verb 왍 to entrust
entrust
prise portal also provides external con- |
tent that may be useful, e.g. specialist someone with something, to entrust
news feeds and access to industry re- something to someone to give someone
search reports.) the responsibility for looking after some-
enterprise zone /entəpraz zəυn/ thing 쑗 He was entrusted with the keys to
enterprise zone
noun an area of the country where busi- the office safe.

nesses are encouraged to develop by of- entry /entri/ noun 1. an item of written
entry
fering special conditions such as easy information put in an accounts ledger

planning permission for buildings or a re- (NOTE: The plural is entries.) 왍 to make
duction in the business rate an entry in a ledger to write in details of
entertain /entəten/ verb 1. to offer a transaction 2. an act of going in or the
entertain
such things as meals, hotel accommoda- place where you can go in 쑗 to pass a cus-
entry charge 140

toms entry point 쑗 entry of goods under everyone, regardless of sex, race, class,
bond etc., has the same opportunity to get a job
entry charge /entri tʃɑd$/ noun equally /ikwəli/ adverb so that each
entry charge equally
money which you have to pay before you has or pays the same, or to the same de-
go in gree 쑗 Costs will be shared equally be-
entry visa /entri vizə/ noun a visa
entry visa
tween the two parties. 쑗 They were both
allowing someone to enter a country equally responsible for the disastrous
environment /nvarənmənt/ noun
environment
|
launch.
Equal Opportunities Commis-
Equal Opportunities Commission
all the various types of computers, brows-

ers or bandwidth access points by means sion / ikwəl ɒpətjunətiz kə | |
of which a user may access a website. It is mʃ(ə)n/ noun a government body set up
important to test a website within as many to make sure that no discrimination exists
different environments as possible to in employment. Abbreviation EOC
equal opportunities programme
equal opportunities programme
make sure that it can be effectively ac-

cessed by a variety of users. /ikwəl ɒpətjuntiz prəυ!rm/|
environmental management /n noun a programme to avoid discrimina-

environmental management
varənment(ə)l mnd$mənt/ noun a tion in employment (NOTE: The US term

planned approach to minimising an or- is affirmative action.)
equal pay /ikwəl pe/ noun the act of
equal pay
ganisation’s impact on the environment

environmental management sys-
environmental management system
paying the same rate to men and women
tem /nvarənment(ə)l | |
who do the same job
mnd$mənt sstəm/ noun the vari- equilibrium /ikwlbriəm/ noun the
equilibrium
ous procedures and controls that an or- state of balance in the economy where
ganisation sets up in order to minimise its supply equals demand or a country’s bal-
impact on the environment. Abbreviation ance of payments is neither in deficit nor
EMS (NOTE: The ISO 14000 quality in excess
standards set out formally how environ- equip /kwp/ verb to provide with ma-
equip
mental management systems should chinery 쑗 to equip a factory with new ma-
operate.) chinery 쑗 The office is fully equipped with
environmental scanning /nvarən
environmental scanning
| | word-processors.
ment(ə)l sknŋ/ noun the continuous equipment /kwpmənt/ noun ma-
equipment
monitoring of events and trends in the chinery and furniture required to make a
business environment factory or office work 쑗 office equipment
EOC abbr Equal Opportunities Commis- or business equipment 쑗 an office equip-
EOC
sion ment supplier 쑗 an office equipment cat-

EOQ abbr economic order quantity
EOQ
alogue
equities /ekwtiz/ plural noun ordi-
equities
epos /ipɒs/, EPOS, EPoS abbr elec-

epos
tronic point of sale nary shares

EPS abbr earnings per share
EPS
‘…in the past three years commercial
property has seriously underperformed eq-
equal / ikwəl/ adjective exactly the
equal
uities and dropped out of favour as a re-

same 쑗 Male and female employees have sult’ [Investors Chronicle]
equal pay. 쐽 verb to be the same as 쑗 Pro-
equity /ekwti/ noun 1. a right to re-
equity
duction this month has equalled our best ceive dividends as part of the profit of a
month ever. (NOTE: equalling – company in which you own shares 2. the
equalled. The US spelling is equaling –
ordinary shares in a company 3. the value
equaled.)
of a company which is the property of its
equalisation /ikwəlazeʃən/ noun
equalisation
|
shareholders (the company’s assets less
the process of making equal its liabilities, not including the ordinary
equalise /ikwəlaz/, equalize verb to
equalise
share capital) 4. the value of an asset,

make equal 쑗 to equalise dividends such as a house, less any mortgage on it
equality /kwɒlti/ noun the state of COMMENT: ‘Equity’ (also called ‘capital’ or
equality
being equal ‘shareholders’ equity’ or ‘shareholders’

capital’ or ‘shareholders’ funds’) is the
equality of opportunity /kwɒlti
equality of opportunity
|
current net value of the company includ-
əv ɒpətjunti/ noun a situation where
| ing the nominal value of the shares in is-
141 establishment
sue. After several years a company wage, and to equal treatment for men and
would expect to increase its net worth women, a safe work environment, train-
above the value of the starting capital. ing, freedom of association and collective
‘Equity capital’ on the other hand is only
the nominal value of the shares in issue. bargaining, provision for disabled work-
equity capital /ekwti kpt(ə)l/
equity capital
ers, freedom of movement from country
noun the nominal value of the shares to country, guaranteed standards of living
owned by the ordinary shareholders of a both for the working population and for
company (NOTE: Preference shares are retired people. Full form European So-
not equity capital. If the company were cial Charter. Also called Social Charter
escalate /eskəlet/ verb to increase
escalate
wound up, none of the equity capital

would be distributed to preference steadily
escalation /eskəleʃ(ə)n/ noun a
escalation
shareholders.) |
equity fund /ekwti fnd/ noun a

equity fund
steady increase 쑗 an escalation of wage
fund which is invested in equities, not in demands 쑗 The union has threatened an
government securities or other funds escalation in strike action. 왍 escalation
equity investment fund /ekwti n
equity investment fund
of prices a steady increase in prices
escalation clause /eskəleʃ(ə)n
|
escalation clause
vestmənt fnd/ noun same as equity |
fund klɔz/ noun same as escalator clause

escalator clause /eskəletə klɔz/
escalator clause
equivalence /kwvələns/ noun the

equivalence
condition of having the same value or of noun a clause in a contract allowing for
being the same regular price increases because of in-
equivalent /kwvələnt/ adjective 왍
equivalent
|
creased costs, or regular wage increases
to be equivalent to to have the same val- because of the increased cost of living
escape clause /skep klɔz/ noun a
escape clause
ue as or to be the same as 쑗 The total div- |
idend paid is equivalent to one quarter of clause in a contract which allows one of
the pretax profits. 쑗 Our managing direc- the parties to avoid carrying out the terms
tor’s salary is equivalent to that of far less of the contract under conditions
escudo /eskjυdəυ/ noun a former unit
escudo
experienced employees in other organisa- |
tions. of currency in Portugal

ergonomics /&!ənɒmks/ noun the e-shock /i ʃɒk/ noun the revolutionary
ergonomics e-shock
study of the relationship between people impact of e-commerce and its apparently
at work and their working conditions, es- irresistible progress
pecially the machines they use (NOTE: ESOP abbr employee share ownership
ESOP
takes a singular verb) plan

ergonomist /&!ɒnəmst/ noun a sci- essential /senʃəl/ adjective very im-
ergonomist essential
| |
entist who studies people at work and portant 쑗 It is essential that an agreement
tries to improve their working conditions be reached before the end of the month. 쑗
ERM abbr exchange rate mechanism The factory is lacking essential spare
ERM
error /erə/ noun a mistake 쑗 He made parts.

error
an error in calculating the total. 쑗 Some- essential foodstuffs /senʃəl fud

essential foodstuffs
| |
one must have made a keyboarding error. stfs/ plural noun very important food,
왍 in error, by error by mistake 쑗 The let- such as bread or rice
ter was sent to the London office in error. essentials /senʃəlz/ plural noun
essentials
error rate /erə ret/ noun the number goods or products which are very impor-
error rate
of mistakes per thousand entries or per tant

page establish /stblʃ/ verb to set up or to
establish
errors and omissions excepted open 쑗 The company has established a

errors and omissions excepted
/erəz ənd əυmʃ(ə)nz kseptd/ | | branch in Australia. 쑗 The business was

phrase words written on an invoice to established in Scotland in 1823. 쑗 It is
show that the company has no responsi- still a young company, having been estab-
bility for mistakes in the invoice. Abbre- lished for only four years. 왍 to establish
viation e. & o.e. oneself in business to become successful
ESC /skep/ noun a charter for em- in a new business
ESC
establishment /stblʃmənt/ noun

establishment
ployees, drawn up by the EU in 1989, by |
which employees have the right to a fair 1. a commercial business 쑗 He runs an

establishment charges 142

important printing establishment. 2. the time when an aircraft, a coach or a group
number of people working in a company of tourists is expected to arrive
왍 to be on the establishment to be a full- estimation /estmeʃ(ə)n/ noun an
estimation
time employee 왍 office with an estab-

|
approximate calculation
lishment of fifteen an office with a budg- estimator /estmetə/ noun a person
estimator
eted staff of fifteen whose job is to calculate estimates for

/
establishment charges
establishment charges | carrying out work

stblʃmənt tʃɑd$z/ plural noun the ETA abbr estimated time of arrival
ETA
cost of people and property in a compa- etc. /tsetrə/ and so on 쑗 The import
etc.
ny’s accounts duty is to be paid on luxury items includ-

estate /stet/ noun property left by a ing cars, watches, etc.
estate
ethical investment /eθk(ə)l n

ethical investment
dead person |
estate agency /stet ed$ənsi/

estate agency
|
vestmənt/ noun an investment in com-
noun an office which arranges for the sale panies which follow certain moral stand-
of properties ards
ethical screening /eθk(ə)l
ethical screening
estate agent /stet ed$ənt/ noun a

estate agent
|
skrinŋ/ noun the process of checking
person in charge of an estate agency companies against certain moral stand-
estate duty /stet djuti/ noun a tax
estate duty
| ards, and removing those which do not

paid on the property left by a dead person conform
(NOTE: now called inheritance tax) ethics /eθks/ noun the moral aspects
ethics
estimate noun /estmət/ 1. a calcula- of decision-making 쑗 Whether or not we

estimate
tion of the probable cost, size or time of use such aggressive sales tactics is a mat-
something 쑗 Can you give me an estimate ter of ethics. (NOTE: takes a singular
of how much time was spent on the job? 왍 verb)
e-ticket /i tkt/ noun a booking, espe-
e-ticket
these figures are only an estimate these

are not the final accurate figures 2. a cal- cially for air travel, made on the Internet
culation by a contractor or seller of a serv- for which no paper ticket is issued to the
ice of how much something is likely to customer
cost, given to a client in advance of an or- EU abbr European Union 쑗 EU ministers
EU
der 쑗 You should ask for an estimate be- met today in Brussels. 쑗 The USA is in-
fore committing yourselves. 쑗 Before we creasing its trade with the EU.
can give the grant we must have an esti- euro /jυərəυ/ noun a unit of currency
euro
mate of the total costs involved. 쑗 Unfor- adopted as legal tender in several Europe-
tunately the final bill was quite different an countries from January 1st, 1999 쑗
from the estimate. 왍 to put in an estimate Many articles are priced in euros. 쑗
to give someone a written calculation of What’s the exchange rate for the euro?
the probable costs of carrying out a job 쑗 (NOTE: The plural is euro or euros.)
Three firms put in estimates for the job. 쐽 ‘…cross-border mergers in the European
verb /estmet/ 1. to calculate the prob- Union have shot up since the introduction
able cost, size or time of something 쑗 to of the euro’ [Investors Chronicle]
estimate that it will cost £1m or to esti- COMMENT: The countries which are
mate costs at £1m 쑗 We estimate current joined together in the European Mone-
sales at only 60% of last year. 2. 왍 to es- tary Union and adopted the euro as their
timate for a job to state in writing the fu- common currency in 1999 are: Austria,
Belgium, Finland, France, Germany, Ire-
ture costs of carrying out a piece of work land, Italy, Luxembourg, the Nether-
so that a client can make an order 쑗 Three lands, Portugal, and Spain. The conver-
firms estimated for the refitting of the of- sion of these currencies to the euro was
fices. fixed on 1st January 1999 at the follow-
ing rates: Austrian schilling: 13.7603;
estimated /estmetd/ adjective cal-
estimated
Belgian & Luxembourg franc: 40.3399;

culated approximately 쑗 estimated sales Finnish Markka: 5.94573; French franc:
쑗 Costs were slightly more than the esti- 6.55957; German mark: 1.95583; Irish
mated figure. punt: 0.787564; Italian lira: 1936.27;
estimated time of arrival Dutch guilder: 2.20371; Portuguese es-
estimated time of arrival (ETA) cudo: 200.482; Spanish peseta:
/estmətd tam əv ərav(ə)l/ noun a | 166.386. The CFA franc and CFP franc
143 European
were pegged to the euro at the same European /jυərəpiən/ adjective re-
European
time. ferring to Europe 쑗 They do business with

Euro- /jυərəυ/ prefix referring to Eu-
Euro-
several European countries.

rope or the European Union European Central Bank
European Central Bank

euro account /jυərəυ əkaυnt/ noun
euro account
|
/jυərəpiən sentrəl bŋk/ noun cen-
a bank account in euros (NOTE: Written Ä tral bank for most of the countries in the
before numbers: Ä250: say: ‘two hun- European Union, those which have ac-
dred and fifty euros’.) cepted European Monetary Union and
Eurobond /jυərəυbɒnd/ noun a long-
Eurobond
have the euro as their common currency.

term bearer bond issued by an interna- Abbreviation ECB
tional corporation or government outside ‘…the ECB begins with some $300 billion
its country of origin and sold to purchas- of foreign exchange reserves, far more
ers who pay in a Eurocurrency, sold on than any other central bank’ [Investors
the Eurobond market Chronicle]
Eurobond market /jυərəυbɒnd
Eurobond market
‘…any change in the European bank’s

mɑkt/ noun the market in Eurobonds statutes must be agreed and ratified by all
Eurocard /jυərəυkɑd/ a cheque card EU member nations’ [The Times]
Eurocard
European Commission
used when writing Eurocheques European Commission

Eurocheque /jυərəυtʃek/ noun a
Eurocheque
/jυərəpiən kəmʃ(ə)n/ noun the main
|
cheque which can be cashed in any Euro- executive body of the EU, made up of
pean bank. The Eurocheque system is members nominated by each member
based in Brussels. state. Also called Commission of the
Eurocurrency /jυərəυkrənsi/ noun
Eurocurrency
European Community
European Common Market
any currency used for trade within Europe European Common Market
but outside its country of origin, the Euro- /jυərəpiən kɒmən mɑkt/ noun for-
dollar being the most important 쑗 a Euro- merly, the name for the European Com-
currency loan 쑗 the Eurocurrency market munity, an organisation which links sev-
Eurodollar /jυərəυdɒlə/ noun a US
Eurodollar
eral European countries for the purposes
dollar deposited in a bank outside the US, of trade
European Community /jυərəpiən
European Community
used mainly for trade within Europe 쑗 a

Eurodollar loan 쑗 the Eurodollar mar- kəmjunti/ noun formerly, the name of
|
kets the European Union. Abbreviation EC

Euroland /jυərəυlnd/ noun same as
European Economic Area
European Economic Area

Euroland
Eurozone /jυərəpiən ikənɒmk eərə/ an area

Euromarket /jυərəυmɑkt/ noun 1. comprising the countries of the EU and
Euromarket
the European Union seen as a potential the members of EFTA, formed by an

market for sales 2. the Eurocurrency mar- agreement on trade between the two or-
ket, the international market for lending ganisations. Abbreviation EEA
or borrowing in Eurocurrencies
European Economic Community
European Economic Community

euronote /jυərəυnəυt/ noun a short- /jυərəpiən ikənɒmk kəmjunti/
euronote
| |
term Eurocurrency bearer note noun a grouping of European countries

Europe /jυərəp/ noun 1. the continent
Europe
which later became the European Union.
of Europe, the part of the world to the Abbreviation EEC. Also called Europe-
west of Asia, from Russia to Ireland 쑗 an Community
European
Most of the countries of Western Europe European Foundation for Quality

are members of the EU. 쑗 Poland is in Management /jυərəpiən faυn | |
eastern Europe, and Greece, Spain and deʃ(ə)n fə kwɒləti mnd$mənt/

Portugal are in southern Europe. 2. the noun an institution founded in the late
same area, but not including the UK 쑗 1980s by leading companies in Western
Holidays in Europe are less popular than Europe to oversee standards in quality
last year. 3. the European Union, includ- management and grants awards. It estab-
ing the UK 쑗 Canadian exports to Europe lished the EFQM European Excellence
have risen by 25%. 4. other EU countries Model, which focuses on the key ele-
but not including the UK 쑗 British sales ments that sustain business success. Ab-
to Europe have increased this year. breviation EFQM
European 144
European Free Trade Associa-
European
lands, Portugal, Spain, Sweden and the
tion /jυərəpiən fri tred ə |
United Kingdom; other countries are ne-
gotiating to join. The member states of
səυsieʃ(ə)n/ noun a group of countries the EU are linked together by the Treaty
(Iceland, Liechtenstein, Norway and of Rome in such a way that trade is more
Switzerland) formed to encourage free- free, money can be moved from one
dom of trade between its members, and country to another freely, people can
linked with the EU in the European Eco- move from one country to another more
nomic Area. Abbreviation EFTA freely and people can work more freely
in other countries of the group.
European Monetary Union
European Monetary Union
Eurozone /jυərəυzəυn/ noun the Eu-

Eurozone
/jυərəpiən mnt(ə)ri junjən/ noun ropean countries which use the euro as a
the process by which some of the member common currency, seen as a group. Also
states of the EU joined together to adopt called Euroland
the euro as their common currency on 1st
January 1999. Abbreviation EMU ‘…the European Central Bank left the
door open yesterday for a cut in Eurozone
European Parliament /jυərəpiən
European Parliament
interest rates’ [Financial Times]

pɑləmənt/ noun the parliament with ‘…a sustained recovery in the euro will re-
members (MEPs) from each country of quire either a sharp slowdown in US
the EU growth or a rise in inflation and interest
European Regional Development rates in the Eurozone beyond that already
European Regional Development Fund
Fund /jυərəpiən rid$(ə)nəl d |

discounted’ [Investors Chronicle]
veləpmənt fnd/ noun a fund set up to evade /ved/ verb to try to avoid some-
evade
provide grants to underdeveloped parts of thing 왍 to evade tax to try illegally to

Europe. Abbreviation ERDF avoid paying tax
evaluate /vljuet/ verb to examine
evaluate
European Social Charter

European Social Charter
/jυərəpiən səυʃ(ə)l tʃɑtə/ noun full something to see how good it is

form of ESC evaluation / vljueʃ(ə)n/ noun the
evaluation
| |
European Union /jυərəpiən examination of a product to see how good

European Union
junjən/ noun a group of European it is

evasion /ve$(ə)n/ noun the act of
evasion
countries linked together by the Treaty of |
Rome. The European Community was set avoiding something

up in 1957 and changed its name to the evidence /evd(ə)ns/ noun written or
evidence
European Union when it adopted the sin- spoken information 쑗 What evidence is
gle market. It has now grown to include there that the new employee is causing all
twenty-five member states. These are: the trouble?
Austria, Belgium, Cyprus, the Czech Re- ex /eks/ prefix out of or from 왍 price ex
ex
public, Denmark, Estonia, Finland, works, ex factory a price not including

France, Germany, Greece, Hungary, Ire- transport from the maker’s factory 쐽
land, Italy, Latvia, Lithuania, Luxem- without 쐽 preposition, prefix formerly 쑗
bourg, Malta, the Netherlands, Poland, Mr Smith, the ex-chairman of the compa-
Portugal, Slovakia, Slovenia, Spain, Swe- ny
den and the United Kingdom. The mem- exact /!zkt/ adjective strictly cor-
exact
ber states of the EU are linked together by rect, not varying in any way from, e.g. not
the Treaty of Rome in such a way that any more or less than, what is stated 쑗
trade is more free, that money can be The exact time is 10.27. 쑗 The salesgirl
moved from one country to another free- asked me if I had the exact sum, since the
ly, that people can move from one country shop had no change.
to another more freely and that people can
exactly /!zktli/ adverb not varying
exactly
work more freely in other countries of the |
group (the four fundamental freedoms). in any way from, e.g. not any more or less
COMMENT: The European Community than, what is stated 쑗 The total cost was
was set up in 1957 and changed its exactly £6,500.
examination / !zmneʃ(ə)n/
examination
name to the European Union when it | |
adopted the Single Market. It has now noun an act of looking at something very
grown to include fifteen member states. carefully to see if it is acceptable
These are: Austria, Belgium, Denmark,
examine /!zmn/ verb to look at
examine
Finland, France, Germany, Greece, Ire- |
land, Italy, Luxembourg, the Nether- someone or something very carefully 쑗

145 exchange
Customs officials asked to examine the in- excess /ekses/; /kses/ noun, adjec-
excess
side of the car. 쑗 The police are examin- tive an amount which is more than what is
ing the papers from the managing direc- allowed 쑗 an excess of expenditure over
tor’s safe. revenue 쑗 Excess costs have caused us
example /!zɑmpəl/ noun something
example
|
considerable problems. 왍 in excess of
chosen to show how things should be above, more than 쑗 quantities in excess of
done 쑗 The motor show has many exam- twenty-five kilos
ples of energy-saving cars on display. 쑗 ‘…most airlines give business class the
Her sales success in Europe is an example same baggage allowance as first class,
of what can be achieved by determina- which can save large sums in excess bag-
tion. 왍 for example to show one thing out gage’ [Business Traveller]
of many 쑗 The government wants to en- ‘…control of materials provides manufac-
courage exports – for example, it gives turers with an opportunity to reduce the
free credit to exporters. amount of money tied up in excess materi-
als’ [Duns Business Month]
exceed /ksid/ verb to be more than 쑗
exceed
excess capacity /ekses kəpsti/

excess capacity
|
|
a discount not exceeding 15% 쑗 Last year noun spare capacity which is not being
costs exceeded 20% of income for the first used
time. 왍 he has exceeded his credit limit excess demand /ekses dmɑnd/
excess demand
he has borrowed more money than he is noun more demand at the present price
allowed than sellers can satisfy 쑗 Much more ma-
excellent /eksələnt/ adjective very
excellent
chinery and labour must be acquired to

good 쑗 The quality of the firm’s products meet excess demand.
is excellent, but its sales force is not large excess fare /ekses feə/ noun an extra
excess fare
enough. fare to be paid (such as for travelling first

except /ksept/ preposition, conjunc- class with a second class ticket)
except
tion not including 쑗 VAT is levied on all excessive /ksesv/ adjective too
excessive
goods and services except books, newspa- large 쑗 Excessive production costs made
pers and children’s clothes. 쑗 Sales are the product uneconomic.
rising in all markets except the Far East. excess profit /ekses prɒft/ noun a
excess profit
excepted /kseptd/ adverb not in- profit which is higher than what is
excepted
cluding thought to be normal

excess profits tax /ekses prɒfts
excess profits tax
exceptional /ksepʃən(ə)l/ adjective

exceptional
tks/ noun a tax on profits which are

|
different or not usual

higher than what is thought to be normal
exceptional items /ksepʃən(ə)l
exceptional items
excess supply /ekses səpla/ noun

excess supply
|
atəmz/ plural noun items which arise

|
more supply at the present price than buy-

from normal trading but which are unusu- ers want to buy
al because of their size or nature; such exchange /kstʃend$/ noun 1. the act
exchange
items are shown separately in a note to the

|
of giving one thing for another 2. a mar-

company’s accounts but not on the face of ket for shares, commodities, futures, etc.
the P & L account unless they are profits 쐽 verb 1. 왍 to exchange something (for
or losses on the sale or termination of an something else) to give one thing in place
operation, or costs of a fundamental reor- of something else 쑗 He exchanged his
ganisation or restructuring which have a motorcycle for a car. 쑗 Goods can be ex-
material effect on the nature and focus of changed only on production of the sales
the reporting entity’s operations, or prof- slip. 2. 왍 to exchange contracts to sign a
its or losses on the disposal of fixed assets contract when buying a property, carried
exception reporting /ksepʃən r
exception reporting
| | out by both buyer and seller at the same

pɔtŋ/ noun a system of information time 3. to change money of one country
distribution that passes on only informa- for money of another 쑗 to exchange euros
tion that is new and out of the ordinary, in for pounds
order to avoid overloading recipients with ‘…under the barter agreements, Nigeria
information that is out of date or has al- will export crude oil in exchange for
ready been transmitted to them. 쒁 man- trucks, food, planes and chemicals’
agement by exception [Wall Street Journal]
exchangeable 146
exchangeable /kstʃend$əb(ə)l/ exchange transaction /kstʃend$
exchangeable exchange transaction
| |
adjective possible to exchange trnzkʃən/ noun a purchase or sale of

|
exchange controls /kstʃend$ kən foreign currency

exchange controls
| |
trəυlz/ plural noun government restric- Exchequer /kstʃekə/ 앳 the Excheq-

Exchequer
tions on changing the local currency into uer 1. the fund of all money received by
foreign currency 쑗 The government had the government of the UK from taxes and
to impose exchange controls to stop the other revenues 2. the British govern-
rush to buy dollars. 쑗 They say the gov- ment’s account with the Bank of England
ernment is going to lift exchange controls. 3. the British government department
exchange dealer /kstʃend$ dilə/ dealing with public revenue
exchange dealer
noun a person who buys and sells foreign Exchequer stocks /kstʃekə stɒks/
Exchequer stocks
currency plural noun same as Treasury stocks

exchange dealings /kstʃend$ excise / ksaz/ verb to cut out 쑗 Please
exchange dealings excise
| |
dilŋz/ plural noun the buying and sell- excise all references to the strike in the
ing of foreign currency minutes.
Exchange Equalisation Account excise duty /eksaz djuti/ noun a
Exchange Equalisation Account excise duty
/kstʃend$| ikwəlazeʃ(ə)n ə | |
tax on goods such as alcohol and petrol
kaυnt/ noun an account with the Bank of which are produced in the country
England used by the government when exciseman /eksazmn/ noun a per-
exciseman
buying or selling foreign currency to in- son who works in the Excise Department
fluence the sterling exchange rate
exclude /ksklud/ verb to keep out, or
exclude
exchange of contracts /kstʃend$

exchange of contracts |
|
not to include 쑗 The interest charges have
əv kɒntrkts/ noun the point in the sale been excluded from the document. 쑗
of property when the buyer and the seller Damage by fire is excluded from the poli-
both sign the contract of sale, which then cy.
becomes binding
excluding /kskludŋ/ preposition
excluding
exchange premium /kstʃend$

exchange premium |
|
not including 쑗 All sales staff, excluding
primiəm/ noun an extra cost above the those living in London, can claim expens-
usual rate for buying a foreign currency es for attending the sales conference.
exchanger /kstʃend$ə/ noun a per-
exchanger
exclusion /ksklu$(ə)n/ noun 1. the

exclusion
|
|
son who buys and sells foreign currency act of not including something 2. an item
exchange rate /kstʃend$ ret/
exchange rate
|
reported on the tax return but on which no
noun 1. a rate at which one currency is tax is payable 3. the action of cutting peo-
exchanged for another. Also called rate ple off from being full members of socie-
of exchange 2. a figure that expresses ty, because of lack of education, alcohol-
how much a unit of one country’s curren- ism or drug abuse, unemployment, etc.
cy is worth in terms of the currency of an- exclusion clause /ksklu$(ə)n
exclusion clause
other country klɔz/ noun a clause in an insurance poli-

‘…can free trade be reconciled with a cy or warranty which says which items or
strong dollar resulting from floating ex- events are not covered
change rates’ [Duns Business Month]
exclusive /ksklusv/ adjective 1.
exclusive
‘…a draft report on changes in the interna-

|
tional monetary system casts doubt on any limited to one person or group 왍 to have
return to fixed exchange-rate parities’ exclusive right to market a product to
[Wall Street Journal] be the only person who has the right to
exchange rate mechanism /ks
exchange rate mechanism
market a product 2. 왍 exclusive of not in-
cluding 쑗 The invoice is exclusive of VAT.
|
tʃend$ ret mekənz(ə)m/ noun a

exclusive agreement /ksklusv ə
exclusive agreement
former method of stabilising exchange | |
rates within the European Monetary Sys- !rimənt/ noun an agreement where a
tem, where currencies could only move person is made sole agent for a product in
up or down within a narrow band (usually a market
exclusive distributor /ksklusv d
exclusive distributor
2.25% either way, but for some currencies | |
this is widened to 6%) without involving strbjυtə/ noun a retailer who is the
a realignment of all the currencies in the only one in an area who is allowed by the
system manufacturer to sell a certain product
147 exhaust
exclusivity /eksklusvt/ noun the executive search /!zekjυtv s&tʃ/
exclusivity executive search
| |
exclusive right to market a product noun the process of looking for new man-
ex coupon /eks kupɒn/ adverb with-
ex coupon
agers for organisations, usually by ap-
out the interest coupons or after interest proaching managers in their existing jobs
has been paid and asking them if they want to work for
different companies (NOTE: a more polite
excuse noun /kskjus/ a reason for
excuse
|
term for headhunting)
doing something wrong 쑗 His excuse for
executor / !zekjυtə/ noun a person or
executor
not coming to the meeting was that he had |
been told about it only the day before. 왍 firm that sees that the terms of a will are
the managing director refused to ac- carried out 쑗 She was named executor of
cept the sales manager’s excuses for the her brother’s will.
executrix /!zekjυtrks / noun a fe-
executrix
poor sales she refused to believe that |
there was a good reason for the poor sales male executor
쐽 verb /k skjuz/ to forgive a small mis- exempt /!zempt/ adjective not forced
exempt
| |
take 쑗 She can be excused for not know- to do something, especially not forced to
ing the French for ‘photocopier’. obey a particular law or rule, or not forced
ex-directory /eks darektəi/ adjec-
ex-directory
|
to pay something 쑗 Anyone over 65 is ex-
tive (telephone number) which is not empt from charges 쑗 He was exempt from
printed in the telephone book 쑗 he has an military service in his country. 왍 exempt
ex-directory number from tax not required to pay tax 쑗 As a
non-profit-making organisation we are
ex dividend /eks dvdend/, ex div
ex dividend
exempt from tax. 쐽 verb 1. 왍 to exempt

adjective referring to a share price not in-
someone or something from something
cluding the right to receive the next divi- to allow someone or something not to do
dend 쑗 The shares went ex dividend yes- something that others are forced to do 2.
terday. Abbreviation xd to free someone from having to do a task
execute /ekskjut/ verb to carry out
execute
쑗 I hope to be exempted from taking these

an order 쑗 Failure to execute orders may tests. 쑗 She was exempted from fire duty.
lead to dismissal. 쑗 There were many ‘Companies with sales under $500,000 a
practical difficulties in executing the year will be exempt from the minimum-
managing director’s instructions. wage requirements’ [Nation’s Business]
execution /ekskjuʃ(ə)n/ noun the exemption /!zempʃ(ə)n/ noun the
execution exemption
| |
carrying out of a commercial order or act of exempting something from a con-

contract tract or from a tax
executive /!zekjυtv/ adjective exempt supplies /!zempt səplaz/
executive exempt supplies
| | |
putting decisions into action 쐽 noun a plural noun products or services on which
person in a business who takes decisions, the supplier does not have to charge VAT,
a manager or director 쑗 sales executives e.g., the purchase of, or rent on, property
쑗 a senior or junior executive and financial services
exercise /eksəsaz/ noun a use of
exercise
‘…one in ten students commented on the

long hours which executives worked’ something 왍 exercise of an option using
[Employment Gazette] an option, putting an option into action 쐽
‘…our executives are motivated by a de- verb to use 쑗 The chairwoman exercised
sire to carry out a project to the best of her veto to block the motion. 왍 to exercise
their ability’ [British Business] an option to put an option into action 쑗
executive committee /!zekjυtv
executive committee
| He exercised his option to acquire sole

kəmti/ noun a committee which runs a
| marketing rights for the product.
society or a club ex gratia /eks !reʃə/ adjective as an
ex gratia
executive director /!zekjυtv da act of favour, without obligation

executive director
| |
rektə/ noun a director who works full- ex gratia payment /eks !reʃə
ex gratia payment
time in the company, as opposed to a pemənt/ noun a payment made as a

‘non-executive director’ gift, with no other obligations
executive power /!zekjυtv paυə/ exhaust /!zɔst/ verb to use up totally
executive power exhaust
| |
noun a right to act as director or to put de- 쑗 We will go on negotiating until all pos-
cisions into action sible solutions have been exhausted.
exhibit 148
exhibit /!zbt/ noun 1. a thing which mestic market. 쑗 The company had diffi-
exhibit
is shown 쑗 The buyers admired the exhib- culty in financing its current expansion
its on our stand. 2. a single section of an programme.
exhibition 쑗 the British Trade Exhibit at ‘…inflation-adjusted GNP moved up at a
the International Computer Fair 쐽 verb 왍 1.3% annual rate, its worst performance
to exhibit at the Motor Show to display since the economic expansion began’
new models of cars at the Motor Show [Fortune]
exhibition /eksbʃ(ə)n/ noun an oc- ‘…the businesses we back range from
exhibition
casion for the display of goods so that start-up ventures to established businesses
buyers can look at them and decide what in need of further capital for expansion’
to buy 쑗 The government has sponsored [Times]
an exhibition of good design. 쑗 We have a ‘…the group is undergoing a period of
stand at the Ideal Home Exhibition. 쑗 The rapid expansion and this has created an ex-
agricultural exhibition grounds were citing opportunity for a qualified account-
crowded with visitors. ant’ [Financial Times]
expect /kspekt/ verb to hope that
expect
exhibition room /eksbʃ(ə)n

exhibition room
|
|
stnd/ noun a place where goods are something is going to happen 쑗 We are
shown so that buyers can look at them and expecting him to arrive at 10.45. 쑗 They
decide what to buy are expecting a cheque from their agent
next week. 쑗 The house was sold for more
exhibition stand /eksbʃ(ə)n
exhibition stand
|
than the expected price.
stnd/ noun a separate section of an ex-
hibition where a company exhibits its ‘…he observed that he expected exports to
grow faster than imports in the coming
products or services year’ [Sydney Morning Herald]
exhibitor /!zbtə/ noun a person or
exhibitor
|
‘American business as a whole has seen
company that shows products at an exhi- profits well above the levels normally ex-
bition pected at this stage of the cycle’ [Sunday
exile /eksal/ noun 1. the state of being
exile
Times]
sent away from your home country 쑗 The expenditure /kspendtʃə/ noun the
expenditure
ex-finance minister went into exile in amount of money spent 왍 heavy expend-
Switzerland. (NOTE: no plural in this iture on equipment spending large sums
meaning) 2. a person who is sent away of money on equipment
from his own country 쐽 verb to send expense /kspens/ noun money spent
expense
someone away from his home country as

|
쑗 It is not worth the expense. 쑗 The ex-

a punishment 쑗 The former finance min- pense is too much for my bank balance. 쑗
ister was exiled for life. The likely profits do not justify the ex-
exit /e!zt/ noun 1. the way out of a
exit
pense of setting up the project. 쑗 It was

building 쑗 The customers all rushed to- well worth the expense to get really high-
wards the exits. 2. the act of going out or quality equipment. 왍 at great expense
leaving 3. the act of leaving a job having spent a lot of money 왍 he fur-
ex officio /eks əfʃiəυ/ adjective, ad-
ex officio
| nished the office regardless of expense

verb because of an office held 쑗 The without thinking how much it cost
treasurer is ex officio a member or an ex expense account /kspens əkaυnt/
expense account
| |
officio member of the finance committee. noun an allowance of money which a

expand /kspnd/ verb to get bigger,
expand
|
business pays for an employee to spend
or make something bigger 쑗 an expand- on travelling and entertaining clients in
ing economy 쑗 The company is expand- connection with that business 쑗 I’ll put
ing fast. 쑗 We have had to expand our this lunch on my expense account.
sales force. expenses /kspensz/ plural noun
expenses
expanded polystyrene /k

expanded polystyrene
|
money paid to cover the costs incurred by
spndd pɒlistarin/ noun light solid
|
someone when doing something 쑗 The
plastic used for packing 쑗 The computer salary offered is £10,000 plus expenses. 쑗
is delivered packed in expanded polysty- She has a high salary and all her travel
rene. expenses are paid by the company. 왍 all
expansion /kspnʃən/ noun an in-
expansion
| expenses paid with all costs paid by the

crease in size 쑗 The expansion of the do- company 쑗 The company sent him to San
149 export department

Francisco all expenses paid. 왍 to cut explain /ksplen/ verb to give reasons
explain
down on expenses to reduce spending for something 쑗 He explained to the cus-

expensive /kspensv/ adjective toms officials that the two computers were
expensive
which costs a lot of money 쑗 First-class presents from friends. 쑗 Can you explain
air travel is becoming more and more ex- why the sales in the first quarter are so
pensive. high? 쑗 The sales director tried to explain
experience
experience /kspəriəns/ | noun the sudden drop in unit sales.

explanation /ekspləneʃ(ə)n/ noun a
explanation
knowledge or skill that comes from hav- |
ing had to deal with many different situa- reason for something 쑗 The VAT inspec-
tions 쑗 She has a lot of experience of tor asked for an explanation of the invoic-
dealing with German companies. 쑗 I es. 쑗 At the AGM, the chairman gave an
gained most of my experience abroad. 쑗 explanation for the high level of interest
Considerable experience is required for payments. 쑗 The human resources de-
this job. 쑗 The applicant was pleasant, partment did not accept her explanation
but did not have any relevant experience. for being late.
쐽 verb to live through a situation 쑗 The
exploit /ksplɔt/ verb to use some-
exploit
company experienced a period of falling |
sales. thing to make a profit 쑗 The company is

exploiting its contacts in the Ministry of
expert /eksp&t/ noun a person who
expert
Trade. 쑗 We hope to exploit the oil re-

knows a lot about something 쑗 an expert sources in the China Sea. 쑗 The directors
in the field of electronics or an electronics exploit their employees, who have to work
expert 쑗 The company asked a financial hard for very little pay.
expert for advice or asked for expert fi-
exploitation /eksplɔteʃ(ə)n/ noun
exploitation
nancial advice. 왍 expert’s report a report |
written by an expert the unfair use of cheap labour to get work

done 쑗 The exploitation of migrant farm
expertise /ekspətiz/ noun specialist
expertise
|
workers was only stopped when they be-
knowledge or skill in a particular field 쑗 came unionised.
We hired Mr Smith because of his finan-
explore /ksplɔ/ verb to examine care-
explore
cial expertise or because of his expertise |
in finance. 쑗 With years of experience in fully 쑗 We are exploring the possibility of

the industry, we have plenty of expertise opening an office in London.
to draw on. 쑗 Lack of marketing expertise export noun /ekspɔt/ the practice or
export
led to low sales figures. business of sending goods to foreign

expert system /eksp&t sstəm/ countries to be sold 쑗 50% of the compa-
expert system
noun software that applies the knowl- ny’s profits come from the export trade or
edge, advice and rules defined by experts the export market. 쒁 exports 쐽 verb /k |
in a particular field to a user’s data to help spɔt/ to send goods to foreign countries
solve a problem for sale 쑗 50% of our production is ex-
expiration /ekspəreʃ(ə)n/ noun the
expiration
|
ported. 쑗 The company imports raw ma-
act of coming to an end 쑗 the expiration terials and exports the finished products.
exportation /ekspɔteʃ(ə)n/ noun
exportation
of an insurance policy 쑗 to repay before |
the expiration of the stated period 왍 on the act of sending goods to foreign coun-
expiration of the lease when the lease tries for sale
comes to an end Export Credit Guarantee Department
Export Credit Guarantee Depart-

expire /kspaə / verb to come to an end ment /ekspɔt kredt !rənti d
expire
쑗 The lease expires in 2010. 왍 his pass-

| |
pɑtmənt/ noun a British government

port has expired his passport is no longer department which insures sellers of ex-
valid ports sold on credit against the possibility
expiry /kspaəri/ noun the act of com- of non-payment by the purchasers. Ab-
expiry
ing to an end 쑗 the expiry of an insurance breviation ECGD

policy export department /ekspɔt d
export department
expiry date /kspaəri det/ noun 1. a pɑtmənt/ noun the section of a compa-
expiry date
date when something will end 2. the last ny which deals in sales to foreign coun-
date on which a credit card can be used tries
export duty 150

export duty /ekspɔt djuti/ noun a exposure to a foreign country) or the
export duty
tax paid on goods sent out of a country for amount of money which an investor may
lose if his investments collapse (his or
sale her exposure in the stock market).
exporter /kspɔtə/ noun a person,
exporter
express /kspres/ adjective 1. rapid or

express
|
|
company or country that sells goods in very fast 쑗 an express letter 2. clearly
foreign countries 쑗 a major furniture ex- shown in words 쑗 The contract has an ex-
porter 쑗 Canada is an important exporter press condition forbidding sale in Africa.
of oil or an important oil exporter. 쐽 verb 1. to put into words or diagrams 쑗
export house / ekspɔt haυs/ noun a
export house
This chart shows home sales expressed as

company which specialises in the export a percentage of total turnover. 2. to send
of goods manufactured by other compa- something very fast 쑗 We expressed the
nies order to the customer’s warehouse.
exporting /ekspɔtŋ/ adjective send- express delivery /kspres d
exporting express delivery
|
| |
ing goods out of a country 왍 oil-export- lv(ə)ri/ noun a very fast delivery
ing countries countries which produce express letter /kspres letə/ noun a
express letter
oil and sell it to other countries letter sent very fast

export licence /ekspɔt las(ə)ns/
export licence
expressly /kspresli/ adverb clearly

expressly
noun a government permit allowing in words 쑗 The contract expressly forbids

something to be exported 쑗 The govern- sales to the United States.
ment has refused an export licence for
ext abbr extension
ext
computer parts.
extend /kstend/ verb 1. to offer some-
extend
export manager /ekspɔt

export manager
|
mnd$ə/ noun the person in charge of thing 쑗 to extend credit to a customer 2.

an export department in a company 쑗 The to make something longer 쑗 Her contract
export manager planned to set up a sales of employment was extended for two
force in Southern Europe. 쑗 Sales manag- years. 쑗 We have extended the deadline
ers from all export markets report to our for making the appointment by two weeks.
extended credit /kstendd kredt/
extended credit
export manager. |
export permit /ekspɔt p&mt/

export permit
noun credit allowing the borrower a very
noun an official document which allows long time to pay 쑗 We sell to Australia on
goods to be exported or imported extended credit.
extended guarantee /kstendd
extended guarantee
export restitution /ekspɔt rest

export restitution
|
!rənti/ noun a guarantee, offered by a

|
tjuʃ(ə)n/ noun (in the EU) subsidies to |
European food exporters dealer on consumer durables such as dish-

washers, which goes beyond the time
exports /ekspɔts/ plural noun goods
exports
specified in the manufacturer’s guarantee

sent to a foreign country to be sold 쑗 Ex-
Extensible Business Reporting
Extensible Business Reporting Language
ports to Africa have increased by 25%.

(NOTE: Usually used in the plural, but the Language noun full form of XBRL
extension /kstenʃən/ noun 1. a long-
extension
singular form is used before a noun.) |
exposition /ekspəzʃ(ə)n/ noun US

exposition
er time allowed for something than was
originally agreed 왍 to get an extension of
|
same as exhibition
credit to get more time to pay back 왍 ex-
exposure /kspəυ$ə/ noun 1. publici-
exposure
tension of a contract the continuing of a

ty given to an organisation or product 쑗 contract for a further period 2. (in an of-
Our company has achieved more expo- fice) an individual telephone linked to the
sure since we decided to advertise nation- main switchboard 쑗 The sales manager is
ally. 2. the amount of risk which a lender on extension 53. 쑗 Can you get me exten-
or investor runs 쑗 He is trying to limit his sion 21? 쑗 Extension 21 is engaged.
exposure in the property market.
‘…the White House refusal to ask for an
‘…it attributed the poor result to the extension of the auto import quotas’
bank’s high exposure to residential mort- [Duns Business Month]
gages, which showed a significant slow-
extensive /kstensv/ adjective very
extensive
down in the past few months’ [South |
China Morning Post] large or covering a wide area 쑗 an exten-

COMMENT: Exposure can be the amount sive network of sales outlets 쑗 an exten-
of money lent to a customer (a bank’s sive recruitment drive
151 extremely
external /kst&n(ə)l/ adjective 1. out- extract /ekstrkt/ noun a printed doc-
external extract
side a country. Opposite internal 2. out- ument which is part of a larger document
side a company 쑗 He sent me an extract of the accounts.
extranet /ekstrənet/ noun a closed
extranet
external account /kst&n(ə)l ə

external account
| |
kaυnt/ noun an account in a British bank network of websites and email systems
belonging to someone who is living in an- that is accessible to the people who be-
other country long to an organisation and to some others
who do not, and that allows the outsiders
external analysis /kst&n(ə)l ə
external analysis
| |
access to the organisation’s internal appli-

nləss/ noun the analysis of an organi- cations or information—usually subject
sation’s customers, market segments, to some kind of signed agreement (NOTE:
competitors, and marketing environment Like intranets, extranets provide all the
external audit /kst&n(ə)l ɔdt/
external audit
|
benefits of Internet technology (brows-
noun an audit carried out by an independ- ers, web servers, HTML, etc.) with the
ent auditor who is not employed by the added benefit of security, since the net-
company work cannot be used by the general
external auditor /kst&n(ə)l ɔdtə/ public.)
external auditor
extraordinary /kstrɔd(ə)n(ə)ri/ ad-

extraordinary
noun an independent person who audits |
the company’s accounts jective different from normal

external growth /kst&n(ə)l !rəυθ/ Extraordinary General Meeting
external growth Extraordinary General Meeting
noun growth by buying other companies, /kstrɔd(ə)n(ə)ri d$en(ə)rəl mitŋ/

|
rather than by expanding existing sales or noun a special meeting of shareholders to

products. Opposite internal growth discuss an important matter (such as a
change in the company’s articles of asso-
external search /kst&n(ə)l s&tʃ/
external search
ciation) which cannot wait until the next

noun a method of finding information
AGM 쑗 to call an Extraordinary General
from external sources such as advertising, Meeting Abbreviation EGM
or from the web using a search engine
extraordinary items /k
extraordinary items
search engine /k

external search engine |
external |
strɔd(ə)n(ə)ri atəmz/ plural noun
st&n(ə)l s&tʃ end$n/ noun a search formerly, large items of income or ex-
engine that allows the user to search mil- penditure which did not arise from usual
lions of Internet pages rapidly trading and which did not occur every
external trade /kst&n(ə)l tred/
external trade
| year. They were shown separately in the

noun trade with foreign countries. Oppo- P&L account, after taxation.
site internal trade extras /ekstrəz/ plural noun items
extras
extra /ekstrə/ adjective which is added which are not included in a price 쑗 Pack-
extra
or which is more than usual 쑗 to charge ing and postage are extras.
10% extra for postage 쑗 There is no extra extremely /kstrimli/ adverb very
extremely
charge for heating. 쑗 Service is extra. 쑗 much 쑗 It is extremely difficult to break

We get £25 extra pay for working on Sun- into the US market. 쑗 Their management
day. team is extremely efficient.
F
face time /fes tam/ noun time spent fact-finding /fkt fandŋ/ noun the
face time fact-finding
communicating with other people face- process of looking for information

to-face as opposed to time spent commu- fact-finding mission /fkt fandŋ
fact-finding mission
nicating with them electronically mʃ(ə)n/ noun a visit by a person or

(informal) group of people, usually to another coun-
face value /fes vlju/ noun the val-
face value
try, to obtain information about a specific

ue written on a coin, banknote or share issue 쑗 The minister went on a fact-find-
certificate ing tour of the region.
factor /fktə/ noun 1. something
factor
‘…travellers cheques cost 1% of their face

value – some banks charge more for small which is important, or which is taken into
amounts’ [Sunday Times] account when making a decision 쑗 The
facilitation /fəslteʃ(ə)n/ noun the drop in sales is an important factor in the
facilitation
| |
process of helping people to do some- company’s lower profits. 쑗 Motivation

thing, e.g. to learn or to find a solution to was an important factor in drawing up the
a problem, without dictating how they do new pay scheme. 2. a number used in mul-
it tiplication to produce another number 왍
facilitator /fəsltetə/ noun a person
facilitator
|
by a factor of ten ten times 3. a person or
who actively encourages discussion, new company which is responsible for collect-
initiatives, etc. ing debts for companies, by buying debts
at a discount on their face value 쐽 verb to
facilities /fəsltiz/ plural noun servic-
facilities
buy debts from a company at a discount

|
es, equipment or buildings which make it

possible to do something 쑗 Our storage ‘…factors ‘buy’ invoices from a company,
which then gets an immediate cash ad-
facilities are the best in the region. 쑗 vance representing most of their value.
Transport facilities in the area are not The balance is paid when the debt is met.
satisfactory. 쑗 There are no facilities for The client company is charged a fee as
disabled visitors. 쑗 There are very good well as interest on the cash advanced’
sports facilities on the company premises. [Times]
facility /fəslti/ noun 1. something
facility
| COMMENT: A factor collects a company’s

that allows something to be done some- debts when due, and pays the creditor in
thing easily 쑗 We offer facilities for pay- advance part of the sum to be collected,
so ‘buying’ the debt.
ment. 2. the total amount of credit which
factoring /fktərŋ/ noun the busi-
factoring
a lender will allow a borrower 3. US a sin-

gle large building 쑗 We have opened our ness of buying debts from a firm at a dis-
new warehouse facility. count and then getting the debtors to pay
factoring charges /fktərŋ
factoring charges
fact /fkt/ noun 1. a piece of informa-

fact
tion 쑗 The chairman asked to see all the tʃɑd$z/ plural noun the cost of selling
facts on the income tax claim. 쑗 The sales debts to a factor for a commission
factors of production /fktəz əv
factors of production
director can give you the facts and figures

about the African operation. 2. 왍 the fact prədkʃən/ plural noun land, labour and
|
of the matter is what is true is that 3. 왍 in capital, i.e. the three things needed to pro-
fact really 쑗 The chairman blamed the fi- duce a product
factory /fkt(ə)ri/ noun a building
factory
nance director for the loss when in fact he

was responsible for it himself. where products are manufactured 쑗 a car
153 faith
factory 쑗 a shoe factory 쑗 The company something which you promised to do 왍
is proposing to close three of its factories failure to pay a bill not paying a bill
with the loss of 200 jobs. failure fee /feljə fi/ noun a fee
failure fee
factory floor /fkt(ə)ri flɔ/ noun

factory floor
charged by a distributor to the manufac-

the main works of a factory turer of a product whose sales are less
factory gate price /fkt(ə)r !et than those agreed in advance
factory gate price
pras/ noun the actual cost of manufac- fair /feə/ noun same as trade fair 쑗 The
fair
turing goods before any mark-up is added computer fair runs from April 1st to 6th.
to give profit (NOTE: The factory gate 쐽 adjective reasonable, with equal treat-
price includes direct costs such as la- ment
bour, raw materials and energy, and in- fair copy /feə kɒpi/ noun a document
fair copy
direct costs such as interest on loans, which is written or typed with no changes
plant maintenance or rent.) or mistakes
factory hand /fkt(ə)ri hnd/ noun fair deal /feə dil/ noun an arrange-
factory hand
fair deal
a person who works in a factory ment where both parties are treated equal-
factory inspector /fkt(ə)ri n
factory inspector
| ly 쑗 The employees feel they did not get a

spektə/ noun a government official who fair deal from the management.
inspects factories to see if they are well fair dealing /feə dilŋ/ noun the le-
fair dealing
run gal buying and selling of shares

factory inspectorate /fkt(ə)ri n fairly /feəli/ adverb 1. quite 쑗 She is a
factory inspectorate
fairly
|
spekt(ə)rət/ noun all inspectors of fac- fairly fast keyboarder. 쑗 The company is
tories fairly close to breaking even. 2. reasona-
factory outlet /fkt(ə)r aυt(ə)let/
factory outlet
bly or equally 쑗 The union representa-

noun a shop where merchandise is sold tives put the employees’ side of the case
direct to the public from the factory, usu- fairly and without argument.
ally at wholesale prices fair price /feə pras/ noun a good
fair price
factory price /fkt(ə)ri pras/ noun a

factory price
price for both buyer and seller

price not including transport from the fair trade /feə tred/ noun an interna-
fair trade
maker’s factory tional business system where countries

factory unit /fkt(ə)ri junt/ noun a
factory unit
agree not to charge import duties on some

single building on an industrial estate items imported from their trading part-
factory worker /fkt(ə)ri w&kə/ ners
factory worker
noun a person who works in a factory fair trading /feə tredŋ/ noun a way
fair trading
fact sheet /fkt ʃit/ noun a sheet of of doing business which is reasonable and
fact sheet
paper giving information about a product does not harm the consumer
or service which can be used for publicity fair value /feə vlju/ noun 1. a price
fair value
purposes paid by a buyer who knows the value of

fail /fel/ verb to be unsuccessful 쑗 The what he or she is buying, to a seller who
fail
prototype failed its first test. 왍 the com- also knows the value of what is being
pany failed the company went bankrupt sold, i.e., neither is cheating the other 2. a
쑗 He lost all his money when the bank method of valuing the assets and liabili-
failed. ties of a business based on the amount for
failing /felŋ/ noun weakness 쑗 The which they could be sold to independent
failing
chairman has one failing – he goes to parties at the time of valuation

sleep at board meetings. 쐽 preposition if fair wear and tear /feə weər ən teə/
fair wear and tear
something does not happen 왍 failing in- noun acceptable damage caused by nor-
structions to the contrary unless some- mal use 쑗 The insurance policy covers
one gives opposite instructions 왍 failing most damage but not fair wear and tear to
prompt payment if the payment is not the machine.
made on time 왍 failing that if that does faith /feθ/ noun 왍 to have faith in
faith
not work 쑗 Try the company secretary, something or someone to believe that
and failing that the chairman. something or a person is good or will
failure /feljə/ noun 1. an act of break- work well 쑗 The sales force have great
failure
ing down or stopping 쑗 the failure of the faith in the product. 쑗 The sales teams do
negotiations 2. the fact of not doing not have much faith in their manager. 쑗
fake 154
The board has faith in the managing di- sales or make less profit than our rivals
rector’s judgement. 왍 to buy something fall off phrasal verb to become lower,
in good faith to buy something thinking cheaper or less 쑗 Sales have fallen off
that is of good quality, that it has not been since the tourist season ended.
stolen or that it is not an imitation fall out phrasal verb 왍 the bottom has
fake /fek/ noun imitation, copy made fallen out of the market sales have fall-
fake
for criminal purposes 쑗 The painting was en below what previously seemed to be
proved to be a fake. 쐽 adjective copied their lowest point
for criminal purposes 쑗 The shipment fall through phrasal verb not to hap-
came with fake documentation. 쐽 verb to pen or not to take place 쑗 The plan fell
make an imitation for criminal purposes through at the last moment.
쑗 faked documents 쑗 He faked the results fall-back price /fɔl bk pras/ noun
fall-back price
of the test. the lowest price which a seller will accept

fall / fɔl/ noun a sudden reduction or loss 쑗 The buyer tries to guess the seller’s fall-
fall
of value 쑗 a fall in the exchange rate 쑗 a back price. 쑗 The fall-back price must not
fall in the price of gold 쑗 a fall on the be any lower or there won’t be any profit
Stock Exchange 쑗 Profits showed a 10% in the deal.
fall. 쐽 verb 1. to be reduced suddenly to a falling /fɔlŋ/ adjective becoming
falling
lower price or value 쑗 Shares fell on the smaller or dropping in price

market today. 쑗 Gold shares fell 10% or ‘…falling profitability means falling share
fell 45 cents on the Stock Exchange. 쑗 The prices’ [Investors Chronicle]
price of gold fell for the second day run- falling market /fɔlŋ mɑkt/ noun
falling market
ning. 쑗 The pound fell against the euro. 2. a market where prices are coming down
to happen or to take place 쑗 The public falling pound /fɔlŋ paυnd/ noun
falling pound
holiday falls on a Tuesday. 왍 payments the pound when it is losing its value
which fall due payments which are now against other currencies
due to be made
fallout /fɔlaυt/ noun a bad result or
fallout
‘…market analysts described the falls in collapse

the second half of last week as a technical
false /fɔls/ adjective not true or not cor-
false
correction to the market’ [Australian

Financial Review] rect 쑗 to make a false claim for a product
‘…for the first time since mortgage rates 쑗 to make a false entry in the balance
began falling in March a financial institu- sheet
false accounting /fɔls əkaυntŋ/
false accounting
tion has raised charges on homeowner |
loans’ [Globe and Mail (Toronto)] noun a criminal offence of changing, de-
‘…interest rates were still falling as late as stroying or hiding accounting records for
June, and underlying inflation remains be- a dishonest purpose, such as to gain mon-
low the government’s target of 2.5 per ey
cent’ [Financial Times] false pretences /fɔls prtensz/
false pretences
fall away phrasal verb to become less plural noun doing or saying something to
쑗 Hotel bookings have fallen away cheat someone 쑗 He was sent to prison
since the tourist season ended. for obtaining money by false pretences.
fall back phrasal verb to become lower false weight /fɔls wet/ noun a
false weight
or cheaper after rising in price 쑗 Shares weight as measured on a shop scales

fell back in light trading. which is wrong and so cheats customers
fall back on phrasal verb to have to
falsification /fɔlsfkeʃ(ə)n/ noun
falsification
use something kept for emergencies 쑗 |
to fall back on cash reserves 쑗 The the act of making false entries in accounts
falsify /fɔlsfa/ verb to change some-
falsify
management fell back on the usual old

excuses. thing to make it wrong 쑗 They were ac-
fall behind phrasal verb 1. to be late in cused of falsifying the accounts.
family company /fm(ə)li
family company
doing something 쑗 They fell behind

with their mortgage repayments. 왍 the kmp(ə)ni/ noun a company where
company has fallen behind with its most of the shares are owned by members
deliveries it is late with its deliveries 2. of a family
to be in a worse position than 왍 we have fancy goods /fnsi !υdz/ plural
fancy goods
fallen behind our rivals we have fewer noun small attractive items
155 feasibility study

fancy prices /fnsi prasz/ noun
fancy prices
me for a loan as a favour. 2. 왍 in favour

high prices 쑗 I don’t want to pay the fancy of in agreement with or feeling that some-
prices they ask in London shops. thing is right 쑗 Six members of the board
f. & f. abbr fixtures and fittings
f. & f.
are in favour of the proposal, and three
fao abbr for the attention of
fao
are against it. 쐽 verb to agree that some-
thing is right or suitable 쑗 The board
fare /feə/ noun a price to be paid for a
fare
members all favour Smith Ltd as partners

ticket to travel 쑗 Train fares have gone up in the project. (NOTE: [all senses] The
by 5%. 쑗 The government is asking the usual US spelling is favor.)
airlines to keep air fares down.
favourable /fev(ə)rəb(ə)l/ adjective
favourable
farm /fɑm/ noun property in the coun-

farm
try where crops are grown, where animals giving an advantage (NOTE: The US spell-
are raised for sale 쐽 verb to own a farm 쑗 ing is favorable.) 왍 on favourable terms
he farms 150 acres on specially good terms 쑗 The shop is let
farm out phrasal verb 왍 to farm out
on very favourable terms.
favourable balance of trade
work to hand over work for another per- favourable balance of trade
son or company to do for you 쑗 She /fev(ə)rəb(ə)l bləns əv tred/, fa-
farms out the office typing to various lo- vourable trade balance
cal bureaux. /fev(ə)rəb(ə)l tred bləns/ noun a
farming /fɑmŋ/ noun the job of
farming
situation where a country’s exports are
working on a farm, of raising animals for larger than its imports
favourite /fev(ə)rət/ noun, adjective
favourite
sale or of growing crops for food 쑗 chick-

en farming 쑗 fish farming 쑗 mixed farm- (something) which is liked best 쑗 This
ing brand of chocolate is a favourite with the
fascia /feʃə/, facia /feʃə/ noun 1. a children’s market. (NOTE: The usual US
fascia
board over a shop on which the name of spelling is favorite.)

the shop is written 2. a board above an ex- fax /fks/ noun 1. a system for sending
fax
hibition stand on which the name of the the exact copy of a document via tele-
company represented is written phone lines 쑗 Can you confirm the book-
fast /fɑst/ adjective, adverb quick or ing by fax? 2. a document sent by this
fast
quickly 쑗 The train is the fastest way of method 쑗 We received a fax of the order
getting to our supplier’s factory. 쑗 Home this morning. 쐽 verb to send a message by
computers sell fast in the pre-Christmas fax 쑗 The details of the offer were faxed
period. to the brokers this morning. 쑗 I’ve faxed
fast-selling item /fɑst selŋ
fast-selling item
the documents to our New York office. 쐽
atəm/ noun an item which sells quickly noun a machine for sending or receiving
fast track /fɑst trk/, fast tracking
fast track
faxes
COMMENT: Banks will not accept fax mes-
noun rapid promotion for able employees
sages as binding instructions (as for ex-
쑗 He entered the company at 21, and by ample, a faxed order for money to be
25 he was on the fast track. transferred from one account to anoth-
fault /fɔlt/ noun 1. the fact of being to er).
fault
blame for something which is wrong 쑗 It fax paper /fks pepə/ noun special
fax paper
is the stock controller’s fault if the ware- paper which is used in fax machines
house runs out of stock. 쑗 The chairman fax roll /fks rəυl/ noun a roll of fax
fax roll
said the lower sales figures were the fault paper

of a badly motivated sales force. 2. an act
feasibility /fizəblti/ noun the abili-
feasibility
of not working properly 쑗 The techni- |
cians are trying to correct a programming ty to be done 쑗 to report on the feasibility

fault. 쑗 We think there is a basic fault in of a project
feasibility report /fizəblti r
feasibility report
the product design. | |
faulty /fɔlti/ adjective which does not

faulty
pɔt/ noun a document which says if it is
work properly 쑗 Faulty equipment was to worth undertaking something
blame for the defective products. 쑗 They feasibility study /fizəblti stdi/
feasibility study
installed faulty computer programs. noun the careful investigation of a project

favour /fevə / noun 1. 왍 as a favour to to see whether it is worth undertaking 쑗
favour
help or to be kind to someone 쑗 He asked We will carry out a feasibility study to de-
feasibility test 156

cide whether it is worth setting up an Federal Reserve Board. Abbreviation
agency in North America. FRB
feasibility test /fizəblti test/ Federal Reserve Board /fed(ə)rəl
feasibility test Federal Reserve Board
noun a test to see if something is possible rz&v bɔd/ noun a government organi-
|
feather-bedding /feðə bedŋ/ noun sation which runs the central banks in the
feather-bedding
the heavy subsidising of unprofitable in- US. Abbreviation FRB

dustry by government ‘…pressure on the Federal Reserve Board
Fed /fed/ noun US same as Federal Re-
Fed
to ease monetary policy mounted yester-
serve Board (informal ) day with the release of a set of pessimistic
economic statistics’ [Financial Times]
‘…indications of weakness in the US
federation /fedəreʃ(ə)n/ noun a
federation
economy were contained in figures from |
the Fed on industrial production for April’ group of societies, companies or organi-
[Financial Times] sations which have a central organisation
‘…the half-point discount rate move gives which represents them and looks after
the Fed room to reduce the federal funds their common interests 쑗 a federation of
rate further if economic weakness persists. trades unions 쑗 the employers’ federation
The Fed sets the discount rate directly, but fee /fi/ noun money paid for work car-
fee
controls the federal funds rate by buying ried out by a professional person such as
and selling Treasury securities’ [Wall an accountant, a doctor or a lawyer 쑗 We
Street Journal] charge a small fee for our services. 쑗 The
federal /fed(ə)rəl/ adjective 1. refer-
federal
consultant’s fee was much higher than we

ring to a system of government where a expected. 왍 director’s fees money paid to
group of states are linked together in a a director as a lump sum, not a salary
federation 2. referring to the central gov- feed /fid/ noun a device which puts pa-
feed
ernment of the United States 쑗 Most fed- per into a printer or into a photocopier 쑗
eral offices are in Washington. the paper feed has jammed 쐽 verb to put
‘…federal examiners will determine information into a computer or paper into
which of the privately-insured savings and a printer (NOTE: feeding – fed)
loans qualify for federal insurance’ [Wall
feedback /fidbk/ noun information,
feedback
Street Journal]
‘…since 1978 America has freed many of especially about the result of an activity
its industries from federal rules that set which allows adjustments to be made to
prices and controlled the entry of new the way it is done in future 쑗 We are get-
companies’ [Economist] ting positive feedback about our after-
Federal Reserve /fed(ə)rəl rz&v/,
Federal Reserve
|
sales service. 쑗 It would be useful to have
Federal Reserve System /fed(ə)rəl r |
some feedback from people who had a test
z&v sstəm/ noun the system of federal drive but didn’t buy the car. 쑗 Are we get-
government control of the US banks, ting any feedback on customer reaction to
where the Federal Reserve Board regu- our new product? 쑗 The management re-
lates money supply, prints money, fixes ceived a lot of feedback on how popular
the discount rate and issues government the new pay scheme was proving.
feelgood factor /fil!υd fktə/
feelgood factor
bonds
COMMENT: The Federal Reserve system noun a general feeling that everything is
is the central bank of the USA. The sys- going well (leading to increased consum-
tem is run by the Federal Reserve er spending)
Board, under a chairman and seven
fee work /fi w&k/ noun any work on
fee work
committee members (or ‘governors’)

who are all appointed by the President. a project carried out by independent
The twelve Federal Reserve Banks act workers or contractors, rather than by the
as lenders of last resort to local commer- organisation’s employees
cial banks. Although the board is ap-
feint /fent/ noun very light lines on
feint
pointed by the president, the whole sys-

tem is relatively independent of the US writing paper
fetch / fetʃ/ verb 1. to go to bring some-
fetch
government.
Federal Reserve Bank /fed(ə)rəl r thing 쑗 We have to fetch the goods from
Federal Reserve Bank
z&v bŋk/ noun any one of the twelve the docks. 쑗 It is cheaper to buy at a cash
regional banks in the USA which are and carry warehouse, provided you have
owned by the state and directed by the a car to fetch the goods yourself. 2. to be
157 file
sold for a certain price 쑗 to fetch a high field sales manager /fild selz
field sales manager
price 쑗 It will not fetch more than £200. mnd$ə/ noun the manager in charge
쑗 These machines fetch very high prices of a group of salespeople
on the black market. field trials /fild traəlz/, field tests
field trials
few /fju/ adjective, noun 왍 a few some /fild tests/ plural noun a test of a new
few
쑗 A few of our salesmen drive Rolls-Roy- product or of something such as an adver-

ces. 쑗 We get only a few orders in the pe- tisement on real customers
riod from Christmas to the New Year. field work /fild w&k/ noun same as
field work
fiat money /fit mni/ noun coins

fiat money
field research 쑗 They had to do a lot of
or notes which are not worth much as pa- field work to find the right market for the
per or metal, but are said by the govern- product.
FIFO /fafəυ/ abbr first in first out
FIFO
ment to have a value and are recognised

as legal tender fifty-fifty /ffti ffti/ adjective, adverb
fifty-fifty
fictitious assets /fktʃəs sets/

fictitious assets
|
half 왍 he has a fifty-fifty chance of mak-
plural noun assets which do not really ex- ing a profit he has an equal chance of
ist, but are entered as assets to balance the making a profit or a loss
accounts go fifty-fifty phrasal verb to share the
costs equally
fiddle /fd(ə)l/ noun an act of cheating
fiddle
figure /f!ə/ noun 1. a number, or a cost

figure
(informal ) 쑗 It’s all a fiddle. 왍 he’s on the

fiddle he is trying to cheat 쐽 verb to cheat written in numbers 쑗 The figure in the ac-
(informal ) 쑗 He tried to fiddle his tax re-
counts for heating is very high. 왍 he put
turns. 쑗 The salesman was caught fid- a very low figure on the value of the
dling his expense account. lease he calculated the value of the lease
fide as very low 2. 왍 to work out the figures
fide 쏡 bona fide to calculate something 왍 his income runs
fiduciary /fdjuʃjəri/ noun, adjective
fiduciary
| into six figures or he has a six-figure in-

a person in a position of trust 쑗 Directors come his income is more than £100,000 왍
have fiduciary duty to act in the best inter- in round figures not totally accurate, but
ests of the company. correct to the nearest 10 or 100 쑗 They
fiduciary deposits /fdjuʃəri d
fiduciary deposits
| |
have a workforce of 2,500 in round fig-
pɒztz/ plural noun bank deposits which ures.
figures /f!əz/ plural noun 1. written
figures
are managed for the depositor by the bank

numbers 2. the results for a company 쑗
field /fild/ noun 1. an area of study or
field
the figures for last year or last year’s fig-

interest 왍 first in the field being the first ures
company to bring out a product or to start
file /fal/ noun 1. documents kept for ref-
file
a service 쑗 Smith Ltd has a great advan-

tage in being first in the field with a relia- erence 왍 to place something on file to
ble electric car. 쑗 What’s his field? 2. 왍 in keep a record of something 왍 to keep
the field outside the office, among the someone’s name on file to keep some-
customers 쑗 We have sixteen reps in the one’s name on a list for reference 2. a sec-
field. tion of data on a computer, e.g. payroll,
address list, customer accounts 쑗 How
field research /fild rs&tʃ/ noun
field research
|
can we protect our computer files? 쐽 verb
the process of looking for information 1. 쑗 You will find the salary scales filed by
that is not yet published and must be ob- department. 쑗 The correspondence is
tained in surveys 쑗 They had to do a lot of filed under ‘complaints’. 왍 to file docu-
fieldwork before they found the right mar- ments to put documents in order so that
ket for the product. 쑗 Field research is they can be found easily 쑗 The corre-
carried out to gauge potential demand. spondence is filed under ‘complaints’. 2.
field sales force /fild selz fɔs/ to make an official request 왍 to file a pe-
field sales force
noun salespeople working outside the tition in bankruptcy or to file for bank-
company’s offices, in the field 쑗 After ruptcy to ask officially to be made bank-
working for a year in the field sales force, rupt or to ask officially for someone else
she became field sales manager. 쑗 The to be made bankrupt 3. to register some-
field sales force operates in three main thing officially 쑗 to file an application for
areas. a patent 쑗 to file a return to the tax office
file copy 158

앳 to file a petition in bankruptcy, to on a form 쑗 To get customs clearance
file for bankruptcy 1. to ask officially to you must fill out three forms.
be made bankrupt 2. to ask officially for fill up phrasal verb 1. to make some-
someone else to be made bankrupt thing completely full 쑗 He filled up the
file copy /fal kɒpi/ noun a copy of a car with petrol. 쑗 My appointments
file copy
document which is kept for reference in book is completely filled up. 2. to finish
an office writing on a form 쑗 He filled up the
file server /fal s&və/ noun a compu-
file server
form and sent it to the bank.
filter /fltə/ noun a process of analysis
filter
ter connected to a network, running a net-

work operating system software to man- applied to incoming information in order
age accounts, files, etc. to identify any material that could be of
filing /falŋ / noun documents which
filing
interest to an organisation
final / fan(ə)l/ adjective last, coming at
final
have to be put in order 쑗 There is a lot of

filing to do at the end of the week. 쑗 The the end of a period 쑗 to pay the final in-
manager looked through the week’s filing stalment 쑗 to make the final payment 쑗 to
to see what letters had been sent. put the final details on a document 왍 final
filing basket /falŋ bɑskt/ noun
filing basket
date for payment last date by which pay-
same as filing tray ment should be made
final accounts /fan(ə)l əkaυntz/
final accounts
filing cabinet /falŋ kbnət/ noun

filing cabinet
|
a piece of furniture, made of metal, with noun the accounts produced at the end of
wide deep drawers so that files (called an accounting period, including the bal-
‘suspension files’) can be hooked inside ance sheet and profit and loss account
final demand /fan(ə)l dmɑnd/
final demand
them 쑗 We need two more four-drawer fil- |
ing cabinets. 쑗 Last year’s correspond- noun the last reminder from a supplier,
ence is in the bottom drawer of the filing after which they will sue for payment
final discharge /fan(ə)l dstʃɑd$/
final discharge
cabinet. |
filing card /falŋ kɑd/ noun a card noun the last payment of what is left of a
filing card
with information written on it, used to debt

final dividend /fan(ə)l dvdend/
final dividend
classify information into the correct order

filing clerk /falŋ klɑk/ noun an of- noun a dividend paid at the end of a year’s
filing clerk
fice worker who files documents trading, which has to be approved by the
filing system /falŋ sstəm/ noun a
filing system
shareholders at an AGM
finalise /fanəlaz/, finalize verb to
finalise
way of putting documents in order for

easy reference agree final details 쑗 We hope to finalise
filing tray /falŋ tre/ noun a contain-
filing tray
the agreement tomorrow. 쑗 After six
er kept on a desk for documents which weeks of negotiations the loan was final-
have to be filed ised yesterday.
finally /fan(ə)li/ adverb in the end 쑗
finally
fill /fl/ verb 1. to make something full 쑗

fill
We have filled our order book with orders The contract was finally signed yesterday.
쑗 After weeks of trials the company final-
for Africa. 쑗 The production department
has filled the warehouse with unsellable ly accepted the computer system.
products. 2. 왍 to fill a gap to provide a final product / fan(ə)l prɒdkt/
final product
product or service which is needed, but noun a manufactured product, made at

which no one has provided before 쑗 The the end of a production process
final settlement /fan(ə)l
final settlement
new range of small cars fills a gap in the

market. 3. 왍 to fill a post, a vacancy to set(ə)lmənt/ noun the last payment
find someone to do a job 쑗 Your applica- which settles a debt
tion arrived too late – the post has al- finance /fanns/ noun 1. money used
finance
ready been filled. by a company, provided by the sharehold-

fill in phrasal verb to write the required ers or by loans 쑗 Where will they get the
information in the blank spaces on a necessary finance for the project? 2.
form 쑗 Fill in your name and address in money (used by a club, local authority,
block capitals. etc.) 쑗 She is the secretary of the local au-
fill out phrasal verb to write the re- thority finance committee. 3. the business
quired information in the blank spaces of managing money 쐽 verb to provide
159 financial statement

money to pay for something 쑗 They plan that money has been lent or borrowed, in-
to finance the operation with short-term vested or passed from one account to an-
loans. other, e.g. a bill of exchange, share certif-
‘…an official said that the company began icate, certificate of deposit, an IOU
to experience a sharp increase in demand financial intermediary /fannʃəl
financial intermediary
for longer-term mortgages at a time when ntəmidiəri/ noun an institution which

|
the flow of money used to finance these takes deposits or loans from individuals
loans diminished’ [Globe and Mail] and lends money to clients
Finance Act /fanns kt/ noun an
Finance Act
financially /fnnʃəli/ adverb regard-

financially
annual Act of Parliament which gives the ing money 왍 a company which is finan-
government the power to obtain money cially sound a company which is profita-
from taxes as proposed in the Budget ble and has strong assets
Finance Bill /fanns bl/ noun 1. a
Finance Bill
financial position /fannʃəl pə

financial position
| |
bill which lists the proposals in a chancel- zʃ(ə)n/ noun the state of a person’s or
lor’s budget and which is debated before company’s bank balance in terms of as-
being voted into law as the Finance Act 2. sets and debts 쑗 She must think of her fi-
US a short-term bill of exchange which nancial position.
provides credit for a corporation so that it
financial report /fannʃəl rpɔt/
financial report
can continue trading | |
noun a document which gives the finan-

finance company /fanns
finance company
cial position of a company or of a club,

kmp(ə)ni/, finance corporation etc.
/fanns kɔpəreʃ(ə)n/, finance
financial resources /fannʃəl r
| financial resources
house noun a company, usually part of a | |
commercial bank, which provides money zɔsz/ plural noun the supply of money
for hire-purchase for something 쑗 a company with strong fi-
nancial resources
finance department /fanns d
finance department
financial review /fannʃəl rvju/

| financial review
pɑtmənt/, finance committee | |
/fanns kəmti/ noun the department

|
noun an examination of an organisation’s
or committee which manages the money finances
financial risk /fannʃəl rsk/ noun
financial risk
used in an organisation |
finance market /fanns mɑkt/

finance market
the possibility of losing money 쑗 The
noun a place where large sums of money company is taking a considerable finan-
can be lent or borrowed cial risk in manufacturing 25 million
finances /fannsz/ plural noun
finances units without doing any market research.
쑗 There is always some financial risk in
money or cash which is available 쑗 the
bad state of the company’s finances selling on credit.
Financial Services Act /fannʃəl
Financial Services Act
financial /fannʃəl/ adjective con-

financial |
s&vsz kt/ noun an Act of the British

|
cerning money
Parliament which regulates the offering
financial adviser /fannʃəl əd
financial adviser
| |
of financial services to the general public
vazə/ noun a person or company which and to private investors
gives advice on financial problems for a
Financial Services Authority /fa
Financial Services Authority
fee |
nnʃ(ə)l s&vsz ɔθɒrəti/ noun a

financial assistance /fannʃəl ə
financial assistance |
| |
government agency set up to regulate all
sstəns/ noun help in the form of money financial services, such as banks, stock-
financial correspondent /fa
financial correspondent
|
brokers, unit trusts, pension companies,
nnʃəl kɒrspɒndənt/ noun a jour-
|
professional bodies, stock exchanges,
nalist who writes articles on money mat- etc., including the ombudsmen for these
ters for a newspaper services. Abbreviation FSA
financial institution / fannʃəl
financial institution
|
‘…the FSA has set up an independent om-
nsttjuʃ(ə)n/ noun a bank, invest-
| budsman scheme covering all areas of fi-
ment trust or insurance company whose nancial services’ [Times]
work involves lending or investing large financial statement /fannʃəl
financial statement
sums of money stetmənt/ noun a document which

financial instrument / fannʃəl
financial instrument
| shows the financial situation of a compa-

nstrυmənt/ noun a document showing ny 쑗 The accounts department has pre-
Financial Times 160

pared a financial statement for the share- make something completely 쑗 The order
holders. was finished in time. 쑗 She finished the
Financial Times /fannʃəl tamz/ test before all the other candidates. 2. to
Financial Times
noun an important British financial daily come to an end 쑗 The contract is due to
newspaper (printed on pink paper). Ab- finish next month.
breviation FT finished goods /fnʃt !υdz/ plural
finished goods
financial year /fannʃəl jə/ noun noun manufactured goods which are
financial year
the twelve-month period for which a ready to be sold

company produces accounts. A financial fire-damaged goods /faə
fire-damaged goods
year is not necessarily the same as a cal- dmd$d !υdz/ noun goods which
endar year. have been damaged in a fire
financier /fannsiə/ noun a person fire door / faə dɔ/ noun a special door
financier
fire door
who lends large amounts of money to to prevent fire going from one part of a
companies or who buys shares in compa- building to another
nies as an investment fire escape /faər skep/ noun a
fire escape
financing /fannsŋ/ noun the act of

financing
door or stairs which allow people to get

providing money for a project 쑗 The fi- out of a building which is on fire
nancing of the project was done by two in- fire exit /faər e!zt/ noun a door
fire exit
ternational banks. which leads to a way out of a building if

find /fand/ verb 1. to get something
find
there is a fire
which was not there before 쑗 We are still fire hazard /faə hzəd/ noun a situ-
fire hazard
trying to find backing for the project. 2. to ation or goods which could start a fire 쑗
make a legal decision in court 쑗 The tri- That warehouse full of paper is a fire haz-
bunal found that both parties were at ard. Also called fire risk
fault. 왍 the judge found for the defend-
fire insurance /faər nʃυərəns/
fire insurance
ant the judge decided that the defendant |
was right noun insurance against damage by fire

findings /fandŋz/ plural noun 왍 the fireproof safe /faəpruf sef/ noun
fireproof safe
findings
|
findings of a commission of enquiry the a safe which cannot be harmed by fire

fire risk /faə rsk/ noun same as fire
fire risk
recommendations of the commission

fine /fan/ noun money paid because of hazard
fine
something wrong which has been done 쑗 fire safety /faə sefti / noun activities
fire safety
She was asked to pay a $25,000 fine. 쑗 We designed to make a place of work safe for
had to pay a £50 parking fine. 쐽 verb to the workers in case of fire
punish someone by making him or her fire safety officer /faə sefti ɒfsə/
fire safety officer
pay money 쑗 to fine someone £2,500 for noun a person responsible for fire safety
obtaining money by false pretences in a building
fine print /fan prnt/ noun very small
fine print
fire sale /faə sel/ noun 1. a sale of

fire sale
characters often used in contracts to list fire-damaged goods 2. a sale of anything

exceptions and restrictions 쑗 Did you at a very low price
read the fine print on the back of the
firm /f&m/ noun a company, business or
firm
agreement?
partnership 쑗 a manufacturing firm 쑗 an
fine-tune / fan tjun/ verb to make
fine-tune
important publishing firm 쑗 She is a part-

small adjustments to a plan or the econo- ner in a law firm. 쐽 adjective 1. un-
my so that it works better changeable 쑗 to make a firm offer for
fine-tuning /fan tjunŋ/ noun the
fine-tuning
something 쑗 to place a firm order for two

act of making of small adjustments in ar- aircraft 2. not dropping in price and pos-
eas such as interest rates, tax bands or the sibly going to rise 쑗 Sterling was firmer
money supply, to improve a nation’s on the foreign exchange markets. 쑗
economy Shares remained firm. 쐽 verb to remain at
finish /fnʃ/ noun 1. the final appear- a price and seem likely to rise 쑗 The
finish
ance 쑗 The product has an attractive fin- shares firmed at £1.50.

ish. 2. an end of a day’s trading on the ‘…some profit-taking was noted, but un-
Stock Exchange 쑗 Oil shares rallied at derlying sentiment remained firm’
the finish. 쐽 verb 1. to do something or to [Financial Times]
161 fix
COMMENT: Strictly speaking, a ‘firm’ is a were purchased first. Abbreviation FIFO.
partnership or other trading organisation Compare last in first out
which is not a limited company. In prac-
first-line management /f&st lan
first-line management
tice, it is better to use the term for unin-

corporated businesses such as ‘a firm of mnd$mənt/ noun the managers who
accountants’ or ‘a firm of stockbrokers’, have immediate contact with the work-
rather than for ‘a major aircraft construc- force
tion firm’ which is likely to be a plc.
first mover /f&st muvə/ noun a per-
first mover
firm up phrasal verb to agree on the fi- son or company that is the first to launch
nal details of something 쑗 We expect to a product in a market
firm up the deal at the next trade fair.
first mover advantage /f&st muvə
first mover advantage
firmness /f&mnəs/ noun the fact of

firmness
ədvɑntd$/ noun the advantage a com-

|
being steady at a particular price, or likely pany gets in being the first to enter a mar-
to rise 쑗 the firmness of the pound on for- ket
eign exchanges
first quarter /f&st kwɔtə/ noun the
first quarter
‘Toronto failed to mirror New York’s period of three months from January to
firmness as a drop in gold shares on a fall-
ing bullion price left the market closing on the end of March 쑗 The first quarter’s
a mixed note’ [Financial Times] rent is payable in advance.
fiscal /fskəl/ adjective referring to tax
fiscal
firm price /f&m pras/ noun a price

firm price
which will not change 쑗 They are quoting or to government revenues

fiscal measures /fskəl me$əz/ plu-
fiscal measures
a firm price of $1.23 a unit.

ral noun tax changes made by a govern-
firm sale /f&m sel/ noun a sale
firm sale
ment to improve the working of the econ-

which does not allow the purchaser to re- omy
turn the goods
fiscal year /fskəl jə/ noun a twelve-
fiscal year
first /f&st/ noun a person or thing that is

first
month period on which taxes are calculat-

there at the beginning or earlier than oth- ed. In the UK this is April 6th to April 5th.
ers 쑗 Our company was one of the first to
‘…last fiscal year the chain reported a
sell into the European market. 116% jump in earnings’ [Barron’s]
first-class /f&st klɑs/ adjective top-
first-class
fit /ft/ verb to be the right size for some-

fit
quality or most expensive 쑗 She is a first- thing 쑗 The paper doesn’t fit the typewrit-
class accountant. 쐽 noun, adverb (the er. (NOTE: fitting – fitted)
type of travel or type of hotel which is fit in phrasal verb to make something
most expensive and comfortable 쑗 to go into a space 쑗 Will the computer fit
travel first-class 쑗 First-class travel pro- in that little space? 쑗 The chairman
vides the best service. 쑗 A first-class tick- tries to fit in a game of golf every after-
et to New York costs more than I can af- noon. 쑗 My appointments diary is full,
ford. 쑗 The MD prefers to stay in first- but I shall try to fit you in tomorrow af-
class hotels. ternoon.
first-class mail /f&st klɑs mel/
first-class mail
fit out phrasal verb to provide equip-

noun a more expensive mail service, de- ment or furniture for a business 쑗 They
signed to be faster 쑗 A first-class letter fitted out the factory with a new compu-
should get to Scotland in a day. ter system. 쑗 The shop was fitted out at
first half /f&st hɑf/ noun a period of a cost of £10,000. 왍 fitting out of a
first half
six months from January to the end of shop putting shelves or counters in for a
June new shop
first half-year /f&st hɑf jə/ noun fittings /ftŋz/ plural noun items in a
first half-year fittings
the first six months or the second six property which are sold with it but are not
months of a company’s accounting year permanently fixed, e.g. carpets or shelves.
first in first out /f&st n f&st aυt/
first in first out
쒁 fixtures
Five-Year Plan / fav jə pln/ noun
Five-Year Plan
phrase 1. a redundancy policy, where the

people who have been working longest proposals for running a country’s econo-
are the first to be made redundant 2. an my over a five-year period
fix /fks/ verb 1. to arrange or to agree 쑗
fix
accounting policy where it is assumed

that stocks in hand were purchased last, to fix a budget 쑗 to fix a meeting for 3 p.m.
and that stocks sold during the period 쑗 The date has still to be fixed. 쑗 The
fixed 162
price of gold was fixed at $300. 쑗 The at a price which stays the same for the
mortgage rate has been fixed at 5%. 2. to whole period of the agreement
mend 쑗 The technicians are coming to fix fixed rate /fkst ret/ noun a rate, e.g.
fixed rate
the phone system. 쑗 Can you fix the pho- an exchange rate, which does not change
tocopier? fixed scale of charges /fkst skel
fixed scale of charges
‘…coupons are fixed by reference to inter- əv tʃɑd$z/ noun a rate of charging

est rates at the time a gilt is first issued’ which does not change
[Investors Chronicle]
fixed-term contract /fkst t&m
fixed-term contract
fix up with phrasal verb to arrange 쑗

kɒntrkt/ noun a contract of employ-
My secretary fixed me up with a car at ment valid for a fixed period of time 쑗 I
the airport. 쑗 Can you fix me up with a
have a fixed-term contract with the com-
room for tomorrow night? pany, and no guarantee of an extension
fixed /fkst/ adjective unable to be
fixed
when it ends in May.

changed or removed fixed yield /fkst jild/ noun a per-
fixed yield
‘…you must offer shippers and importers centage return which does not change
fixed rates over a reasonable period of
fixer /fksə/ noun 1. a person who has a
fixer
time’ [Lloyd’s List]

reputation for arranging business deals,
fixed assets /fkst sets/ plural
fixed assets
often illegally 2. US a house or car which

noun property or machinery which a is being sold cheaply as it needs repairing
company owns and uses, but which the
fixing /fksŋ/ noun 1. arranging 쑗 the
fixing
company does not buy or sell as part of its

fixing of charges 쑗 the fixing of a mort-
regular trade, including the company’s in-
vestments in shares of other companies gage rate 2. a regular meeting to set a
price
fixed capital /fkst kpt(ə)l/ noun
fixed capital
fixtures /fkstʃəz/ plural noun items in

fixtures
capital in the form of buildings and ma- a property which are permanently at-
chinery tached to it, e.g. sinks and lavatories
fixed costs /fkst kɒsts/ plural noun
fixed costs
fixtures and fittings /fkstʃəz ən

fixtures and fittings
business costs which do not change with ftŋz/ plural noun objects in a property
the quantity of the product made which are sold with the property, both
fixed deposit /fkst dpɒzt/ noun a
fixed deposit
|
those which cannot be removed and those
deposit which pays a stated interest over a which can. Abbreviation f. & f.
set period flag /fl!/ noun a mark which is at-
flag
fixed expenses /fkst kspensz/

fixed expenses
| tached to information in a computer so

plural noun expenses which do not vary that the information can be found easily 쐽
with different levels of production, e.g. verb to insert marks on information in a
rent, secretaries’ salaries and insurance computer so that the information can be
fixed income /fkst nkm/ noun in- found easily (NOTE: flagging – flagged)
fixed income
flagship /fl!ʃp/ noun the key prod-

flagship
come which does not change from year to

year, as from an annuity uct in a range, on which the reputation of
fixed-interest /fkst ntrəst/ adjec-
fixed-interest
the producer most depends
flat /flt/ adjective 1. referring to mar-
flat
tive having an interest rate which does not

vary 쐽 noun interest which is paid at a set ket prices which do not fall or rise, be-
rate cause of low demand 쑗 The market was
fixed-interest investments /fkst
fixed-interest investments
flat today. 2. not changing in response to
ntrəst nvestmənts/ plural noun in-
|
different conditions 쐽 adverb in a blunt
vestments producing an interest which way 쑗 He turned down the offer flat.
does not change ‘…the government revised its earlier re-
ports for July and August. Originally re-
fixed-interest securities /fkst
fixed-interest securities
ported as flat in July and declining by

ntrəst skjυərtiz/ plural noun securi-
|
0.2% in August, industrial production is
ties such as government bonds which pro- now seen to have risen by 0.2% and 0.1%
duce an interest which does not change respectively in those months’
fixed-price agreement /fkst pras [Sunday Times]
fixed-price agreement
ə!rimənt/ noun an agreement where a flat organisation /flt

flat organisation
company provides a service or a product ɔ!ənazeʃ(ə)n/ noun an organisation

163 float
with few grades in the hierarchical struc- work a certain number of hours per day or
ture 쑗 A flat organisation does not appeal week
to those who like traditional bureaucratic Flexible
Flexible Work Regulations
Work Regulations
organisations. /fleksb(ə)l w&k re!jυleʃ(ə)nz/ plu-
|
flat out /flt aυt/ adverb 1. working ral noun (in the UK) the legal right for a
flat out
hard or at full speed 쑗 The factory worked parent with a child under the age of 6, or
flat out to complete the order on time. 2. with a disabled child under the age of 18,
US in a blunt way 쑗 He refused the offer to ask that their working hours should be
flat out. arranged to help them with their responsi-
flat pack /flt pk/ noun a pack of
flat pack
bilities
flexitime /fleksitam/ noun a system
flexitime
goods in which a piece of furniture is sold

in flat sections, which the purchaser then where employees can start or stop work at
has to try to put together 쑗 The shelves different hours of the morning or evening,
are sold as a flat pack. provided that they work a certain number
of hours per day or week 쑗 We work flex-
flat rate /flt ret/ noun a charge
flat rate
itime. 쑗 The company introduced flexi-

which always stays the same 쑗 a flat-rate time working two years ago. 쑗 Flexitime
increase of 10% 쑗 We pay a flat rate for should mean that employees work when
electricity each quarter. 쑗 He is paid a they feel most productive. Same as flexi-
flat rate of £2 per thousand. ble working hours (NOTE: Another US
fleet /flit/ noun a group of cars belong-
fleet
term is flextime.)
ing to a company and used by its staff 쑗 a flier /flaə/, flyer /flaə/ noun a small
flier
company’s fleet of representatives’ cars advertising leaflet designed to encourage

fleet car /flit kɑ/ noun a car which is
fleet car
customers to ask for more information

one of a fleet of cars about the product for sale
fleet discount /flit dskaυnt/ noun flight information /flat nfə
fleet discount flight information
|
|
a specially cheap price for purchase or meʃ(ə)n/ noun information about flight
rental of a company’s cars times
flip /flp/ noun a start-up company that is
flip
fleet rental / flit rent(ə)l/ noun an ar-

fleet rental
rangement to rent all a company’s cars established with the aim of building up
from the same company at a special price market share quickly so that it can be
floated on the stock exchange or sold off
flexecutive /fleksekjυtv/ noun an
flexecutive
|
in order to produce personal wealth for its
executive with many different skills who founders
is able to switch jobs or tasks easily
flipchart /flptʃɑt/ noun a way of
flipchart
(slang)
showing information to a group of people
flexibility /fleksblti/ noun the abil-
flexibility
|
by writing on large sheets of paper which
ity to be easily changed 쑗 There is no flex- can then be turned over to show the next
ibility in the company’s pricing policy. sheet
‘…they calculate interest on their ‘flexi- float /fləυt/ noun 1. cash taken from a
float
ble’ mortgage on an annual basis rather central supply and used for running ex-
than daily. Charging annual interest makes penses 쑗 The sales reps have a float of
a nonsense of the whole idea of flexibility £100 each. 2. the process of starting a
which is supposed to help you pay off your new company by selling shares in it on the
mortgage more quickly’ [Financial
Times] Stock Exchange 쑗 The float of the new
company was a complete failure. 3. the
flexible /fleksb(ə)l/ adjective possible
flexible
process of allowing a currency to settle at

to alter or change 쑗 We try to be flexible its own exchange rate, without any gov-
where the advertising budget is con- ernment intervention 쐽 verb 1. 왍 to float
cerned. 쑗 The company has adopted a a company to start a new company by
flexible pricing policy. selling shares in it on the Stock Exchange
flexible working hours /fleksb(ə)l 왍 to float a loan to raise a loan on the fi-
flexible working hours
w&kŋ aυəz/, flexible work plural nancial market by asking banks and com-
noun a system where employees can start panies to subscribe to it 2. to let a curren-
or stop work at different hours of the cy find its own exchange rate on the inter-
morning or evening provided that they national markets and not be fixed 쑗 The
floating 164
government has let sterling float. 쑗 The opposed to one which stands on a table or
government has decided to float the counter
pound. floorwalker /flɔwɔkə/ noun an em-
floorwalker
floating /fləυtŋ/ noun 1. 왍 floating of

floating
ployee of a department store who advises

a company the act of starting a new com- customers, and supervises the shop assist-
pany by selling shares in it on the Stock ants in a department
Exchange 2. 왍 the floating of the pound flop /flɒp/ noun a failure, or something
flop
letting the pound find its own exchange which has not been successful 쑗 The new
rate on the international market 쐽 adjec- model was a flop. 쐽 verb to fail or not be
tive not fixed 쑗 floating exchange rates 쑗 a success 쑗 The launch of the new sham-
the floating pound poo flopped badly. 쑗 The flotation of the
‘…in a world of floating exchange rates new company flopped badly. (NOTE: flop-
the dollar is strong because of capital in- ping – flopped)
flows rather than weak because of the na-
floppy disk /flɒpi dsk/, floppy
floppy disk
tion’s trade deficit’ [Duns Business

Month] /flɒpi/ noun a flat circular flexible disk
floating charge /fləυtŋ tʃɑd$/
floating charge
onto which data can be stored in a mag-
noun a charge linked to any of the compa- netic form. A floppy disk cannot store as
ny’s assets in a category, but not to any much data as a hard disk, but is easily re-
specific item moved, and is protected by a plastic
sleeve.
floating population /fləυtŋ pɒpjυ
floating population
flotation /fləυteʃ(ə)n/ noun 왍 the flo-

| flotation
leʃ(ə)n/ noun people who move from |
place to place tation of a new company the act of start-

ing a new company by selling shares in it
floating rate /fləυtŋ ret/ noun 1.
floating rate
flotsam and jetsam /flɒtsəm ən

flotsam and jetsam
same as variable rate 2. an exchange rate

for a currency which can vary according d$etsəm/ noun rubbish floating in the
to market demand, and is not fixed by the water after a ship has been wrecked and
government rubbish washed on to the land
flourish /flrʃ/ verb to be prosperous,
flourish
flood /fld/ noun a large quantity 쑗 We

flood
received a flood of orders. 쑗 Floods of to do well in business 쑗 the company is

tourists filled the hotels. 쐽 verb to fill flourishing 쑗 trade with Estonia flour-
with a large quantity of something 쑗 The ished
market was flooded with cheap imita- flourishing /flrʃŋ/ adjective profit-
flourishing
tions. 쑗 The sales department is flooded able 왍 flourishing trade trade which is
with orders or with complaints. expanding profitably 쑗 He runs a flour-
floor /flɔ/ noun a bottom level of some- ishing shoe business.
floor
thing, e.g. the lowest exchange rate which flow /fləυ/ noun 1. a movement 쑗 the
flow
a government will accept for its currency flow of capital into a country 쑗 the flow of
or the lower limit imposed on an interest investments into Japan 2. 왍 discounted
rate 쑗 The government will impose a floor cash flow (DCF) calculation of forecast
on wages to protect the poor. sales of a product in current terms with re-
floor manager /flɔ mnd$ə/ noun ductions for current interest rates 쐽 verb
floor manager
US a person in charge of the sales staff in to move smoothly 쑗 Production is now

a department store flowing normally after the strike.
floor plan /flɔ pln/ noun a drawing flow chart /fləυtʃɑt/, flow diagram
floor plan flow chart
of a floor in a building, showing where /fləυ daə!rm/ noun a chart which

different departments are shows the arrangement of work processes
floor price /flɔ pras/ noun a lowest in a series
floor price
price, a price which cannot go any lower fluctuate /flktʃuet/ verb to move up
fluctuate
floor space /flɔ spes/ noun an area and down 쑗 Prices fluctuated between
floor space
of floor in an office or warehouse 쑗 We £1.10 and £1.25. 쑗 The pound fluctuated

have 3,500 square metres of floor space all day on the foreign exchange markets.
to let. fluctuating /flktjυetŋ/ adjective
fluctuating
floor stand /flɔ stnd/ noun a dis- moving up and down 쑗 fluctuating dollar
floor stand
play stand which stands on the floor, as prices

165 force
fluctuation /flktʃueʃ(ə)n/ noun an 2. a measurement of length (= 30cm) 쑗
fluctuation
up and down movement 쑗 the fluctua- The table is six feet long. 쑗 My office is
tions of the yen 쑗 the fluctuations of the ten feet by twelve. (NOTE: The plural is
exchange rate feet for (a) and (c); there is no plural for
fly-by-night /fla ba nat/ adjective (b). In measurements, foot is usually
fly-by-night
company which is not reliable or which written ft or ’ after figures: 10ft; 10’.
might disappear to avoid paying debts 쑗 I Note that the foot is now no longer offi-
want a reputable builder, not one of these cially used in the UK) 쐽 verb 왍 to foot
fly-by-night outfits. the bill to pay the costs 왍 to foot up an
flying picket /flaŋ pkt/ noun a
flying picket
account US to add up a column of num-
picket who travels round the country to bers
footer /fυtə/ noun a section at the bot-
footer
try to stop workers going to work

FOB, f.o.b. abbr free on board
FOB
tom of a web page, which usually con-
tains any essential links and information
fold /fəυld/ verb to stop trading
fold
on how to contact the organisation that

(informal ) 쑗 The business folded up last owns the page and on its copyright and
December. 쑗 The company folded with privacy policy
debts of over £1m.
footfall /fυtfɔl/ noun the number of
footfall
-fold /fəυld/ suffix times 왍 four-fold

-fold
customers who come into and walk round

four times a shop
‘…the company’s sales have nearly tripled ‘…the small independent retailer who
and its profits have risen seven-fold since stocks up using cash and carries could be
1982’ [Barrons] hit hard by the loss of footfall associated
folio /fəυliəυ/ noun a page with a
folio
with any increase in smuggled goods’

number, especially two facing pages in an [The Grocer]
account book which have the same Footsie /fυtsi/ noun an index based
Footsie
number 쐽 verb to put a number on a page on the prices of 100 leading companies
follow /fɒləυ/ verb to come behind or to
follow
(this is the main London index) (informal )

come afterwards 쑗 The samples will fol- Full form Financial Times-Stock Ex-
low by surface mail. 쑗 We will pay change 100 index
£10,000 down, with the balance to follow FOR full form free on rail
FOR
in six months’ time. ‘Forbes’ 500 /fɔbz fav hndrəd/

‘Forbes’ 500
follow up phrasal verb to examine noun a list of the largest US corporations,

something further 쑗 I’ll follow up your published each year in ‘Forbes’ magazine
idea of targeting our address list with a
forbid /fəbd/ verb to tell someone not
forbid
special mailing. 왍 to follow up an initi- |
ative to take action once someone else to do something, or to say that something
has decided to do something must not be done 쑗 Smoking is forbidden
in our offices. 쑗 The contract forbids re-
follow-up letter /fɒləυ p letə/, fol-
follow-up letter
sale of the goods to the USA. 쑗 Staff are

low-up call noun a letter or call to some-
forbidden to speak directly to the press.
one who has not acted on the instructions (NOTE: forbidding – forbade – forbid-
in a previous letter or call, or to discuss in den)
more detail points which were raised ear-
force /fɔs/ noun 1. strength 왍 to be in
force
lier
force to be operating or working 쑗 The
food stamp /fud stmp/ noun US a
food stamp
rules have been in force since 1986. 왍 to

coupon issued by the US federal govern- come into force to start to operate or
ment to poor people so that they can buy work 쑗 The new regulations will come
food at a discounted price into force on January 1st. 2. a group of
foolscap /fulskp/ noun a large size
foolscap
people 쐽 verb to make someone do some-

of writing paper (131/2 by 81/2 inches) 쑗 thing 쑗 Competition has forced the com-
The letter was on six sheets of foolscap. pany to lower its prices. 쑗 After the take-
foolscap envelope /fulskp
foolscap envelope
over several of the managers were forced

envələυp/ noun a large envelope which to take early retirement.
takes foolscap paper force down phrasal verb to make
foot /fυt/ noun 1. the bottom part 쑗 He
foot
something such as prices become lower

signed his name at the foot of the invoice. 왍 to force prices down to make prices
forced sale 166

come down 쑗 Competition has forced foreign currency reserves /fɒrn
foreign currency reserves
prices down. krənsi rz&vz/ plural noun a coun-

|
force up phrasal verb to make some- try’s reserves held in currencies of other
thing become higher 왍 to force prices countries. Also called foreign exchange
up to make prices go up 쑗 The war reserves, international reserves
forced up the price of oil. ‘…the treasury says it needs the cash to re-
forced sale /fɔst sel/ noun a sale
forced sale
build its foreign reserves which have fall-

which takes place because a court orders en from $19 billion when the government
it or because it is the only way to avoid a took office to $7 billion in August’ [Econ-
financial crisis omist]
foreigner / fɒrnə/ noun a person from
foreigner
force majeure /fɔs m$&/ noun

force majeure
something which happens which is out of another country

exchange /fɒrən ks
foreign exchange
the control of the parties who have signed foreign |
a contract, e.g. a strike, war or storm tʃend$/ noun 1. the business of ex-
forecast /fɔkɑst/ noun a description
forecast
changing the money of one country for
or calculation of what will probably hap- that of another 2. foreign currencies
pen in the future 쑗 The chairman did not ‘…the dollar recovered a little lost ground
believe the sales director’s forecast of on the foreign exchanges yesterday’
higher turnover. 쐽 verb to calculate or to [Financial Times]
foreign exchange broker /fɒrn
foreign exchange broker
say what will probably happen in the fu-

ture 쑗 She is forecasting sales of £2m. 쑗 kstʃend$ brəυkə/, foreign ex-
|
Economists have forecast a fall in the exchange dealer noun a person who deals
change rate. (NOTE: forecasting – fore- on the foreign exchange market
cast) foreign exchange dealing /fɒrn
foreign exchange dealing
/fɔkɑst kstʃend$ dilŋ/ noun the business of

forecast dividend
forecast dividend |
dvdend/ noun a dividend which a buying and selling foreign currencies

company expects to pay at the end of the foreign exchange market /fɒrn
foreign exchange market
current year. Also called prospective kstʃend$ mɑkt/ noun 1. a market

|
dividend where people buy and sell foreign curren-

forecasting /fɔkɑstŋ/ noun the cies 쑗 She trades on the foreign exchange
forecasting
process of calculating what will probably market. 2. dealings in foreign currencies

happen in the future 쑗 Manpower plan- 쑗 Foreign exchange markets were very
ning will depend on forecasting the future active after the dollar devalued.
levels of production. foreign exchange reserves /fɒrn
foreign exchange reserves
foreclose /fɔkləυz/ verb to sell a

foreclose
|
kstʃend$ rz&vz/ plural noun for-
| |
property because the owner cannot repay eign money held by a government to sup-
money which he or she has borrowed, us- port its own currency and pay its debts
ing the property as security 쑗 to foreclose foreign exchange transfer /fɒrn
foreign exchange transfer
on a mortgaged property kstʃend$ trnsf&/ noun the sending

|
foreclosure /fɔkləυ$ə/ noun an act of money from one country to another

foreclosure
of foreclosing foreign goods /fɒrn !υdz/ plural

foreign goods
foreign /fɒrn/ adjective not belonging noun goods manufactured in other coun-
foreign
to your own country 쑗 Foreign cars have tries

flooded our market. 쑗 We are increasing foreign investments /fɒrn n
foreign investments
our trade with foreign countries. vestmənts/ plural noun money invested
‘…a sharp setback in foreign trade ac- in other countries
counted for most of the winter slowdown’ foreign money order /fɒrn mni
foreign money order
[Fortune] ɔdə/ noun a money order in a foreign

foreign currency /fɒrn krənsi/
foreign currency
currency which is payable to someone liv-

noun money of another country ing in a foreign country
foreign currency account /fɒrn foreign rights /fɒrn ratz/ plural
foreign currency account foreign rights
krənsi əkaυnt/ noun a bank account

| noun a legal entitlement to sell something
in the currency of another country, e.g. a in a foreign country, e.g. the right to trans-
dollar account in a British bank late a book into a foreign language
167 forward
foreign trade /fɒrn tred/ noun a forma /fɔmə/ noun 쏡 pro forma
foreign trade forma
trade with other countries formal /fɔm(ə)l/ adjective clearly and

formal
foreman /fɔmən/,
foreman
forewoman legally written 쑗 to make a formal appli-

/fɔwυmən/ noun a skilled worker in cation 쑗 to send a formal order 쑗 Is this
charge of several other workers (NOTE: a formal job offer? 쑗 The factory is pre-
The plural is foremen or forewomen.) pared for the formal inspection by the
forex /fɔreks/, Forex noun same as government inspector.
forex
foreign exchange formality /fɔmlti/ noun something

formality
‘…the amount of reserves sold by the au- which has to be done to obey the law
thorities were not sufficient to move the formally /fɔməli/ adverb in a formal
formally
$200 billion Forex market permanently’

[Duns Business Month] way 쑗 We have formally applied for plan-
ning permission for the new shopping
forfeit /fɔft/ noun the fact of having
forfeit
precinct.
something taken away as a punishment 왍
formation /fɔmeʃ(ə)n/, forming
formation
the goods were declared forfeit the court |
said that the goods had to be taken away /fɔmŋ/ noun the act of organising 쑗 the
from the person who was holding them 쐽 formation of a new company
former /fɔmə/ adjective before or at
former
verb to have something taken away as a

punishment 왍 to forfeit a patent to lose a an earlier time 쑗 The former chairman
patent because payments have not been has taken a job with a rival company. 쑗
made 왍 to forfeit a deposit to lose a de- She got a reference from her former em-
posit which was left for an item because ployer.
you have decided not to buy that item formerly /fɔməli/ adverb at an earlier
formerly
forfeit clause /fɔft klɔz/ noun a

forfeit clause
time 쑗 He is currently managing director

clause in a contract which says that goods of Smith Ltd, but formerly he worked for
or a deposit will be taken away if the con- Jones Brothers.
tract is not obeyed fortnight /fɔtnat/ noun two weeks 쑗
fortnight
forfeiture /fɔftʃə/ noun the act of

forfeiture
I saw him a fortnight ago. 쑗 We will be on

forfeiting a property holiday during the last fortnight of July.
forge /fɔd$/ verb to copy money or a (NOTE: not used in US English)
forge
signature illegally, to make a document fortune /fɔtʃən/ noun a large amount

fortune
which looks like a real one 쑗 He tried to of money 쑗 He made a fortune from in-
enter the country with forged documents. vesting in oil shares. 쑗 She left her for-
forgery /fɔd$əri/ noun 1. making an
forgery
tune to her three children.

illegal copy 쑗 He was sent to prison for Fortune 500
Fortune 500 /fɔtʃun fav

forgery. 2. an illegal copy 쑗 The signature hndrəd/ plural noun the 500 largest
was proved to be a forgery. companies in the USA, as listed annually
for hire contract /fə haə kɒntrkt/
for hire contract
in Fortune magazine
noun US a freelance contract forward /fɔwəd/ adjective in advance
forward
fork-lift truck /fɔk lft trk/ noun a or to be paid at a later date 쐽 adverb 1. 왍
fork-lift truck
type of small tractor with two metal arms to date a cheque forward to put a later
in front, used for lifting and moving pal- date than the present one on a cheque 2. 왍
lets to sell forward to sell foreign currency,
form /fɔm/ noun 1. 왍 form of words
form
commodities, etc., for delivery at a later

words correctly laid out for a legal docu- date 3. 왍 balance brought forward, car-
ment 왍 receipt in due form a correctly ried forward balance which is entered in
written receipt 2. an official printed paper an account at the end of a period and is
with blank spaces which have to be filled then taken to be the starting point of the
in with information 쑗 a pad of order next period 쐽 verb 왍 to forward some-
forms 쑗 You have to fill in form A20. 쑗 thing to someone to send something to
Each passenger was given a customs dec- someone 쑗 to forward a consignment to
laration form. 쑗 The reps carry pads of Nigeria 왍 ‘please forward’, ‘to be for-
order forms. 쐽 verb to start, create or or- warded’ words written on an envelope,
ganise something 쑗 The brothers have asking the person receiving it to send it on
formed a new company. to the person whose name is written on it
forwardation 168
forwardation /fɔwədeʃ(ə)n/ noun forward price /fɔwəd pras / noun a
forwardation forward price
a cash price which is lower than the for- price of goods which are to be delivered
ward price (NOTE: The opposite is back- in the future
wardation.) forward sales /fɔwəd selz/ plural
forward sales
forward buying /fɔwəd baŋ/

forward buying
noun the sales of shares, commodities or

noun the act of buying shares, currency or foreign exchange for delivery at a later
commodities at today’s price for delivery date
at a later date foul bill of lading /faυl bl əv
foul bill of lading
forward contract /fɔwəd ledŋ/ noun a bill of lading which says

forward contract
kɒntrkt/ noun a one-off agreement to that the goods were in bad condition when
buy foreign currency or shares or com- received by the shipper
modities for delivery at a later date at a founder /faυndə/ noun a person who
founder
specific price starts a company 쐽 verb to collapse, to

forward dealing /fɔwəd dilŋ /
forward dealing
fail 쑗 The project foundered for lack of

noun the activity of buying or selling funds.
commodities forward founder’s shares /faυndəz ʃeəz/
founder’s shares
forwarder /fɔwədə/ noun a person or

forwarder
noun special shares issued to the person

company that arranges shipping and cus- who starts a company
toms documents for several shipments four O’s /fɔr əυz/ plural noun a sim-
four O’s
from different companies, putting them ple way of summarizing the essentials of
together to form one large shipment a marketing operation, which are Objects,
forward exchange rate /fɔwəd ks
forward exchange rate
| Objectives, Organisation and Operations

tʃend$ ret/, forward rate noun a rate four-pack /fɔ pk/ noun a box con-
four-pack
for purchase of foreign currency at a fixed taining four items (often bottles)
price for delivery at a later date 쑗 What four-part /fɔ pɑt/ adjective paper
four-part
are the forward rates for the pound?

(for computers or typewriters) with a top
forwarding /fɔwədŋ/ noun the act of
forwarding
sheet for the original and three other

arranging shipping and customs docu- sheets for copies 쑗 four-part invoices 쑗
ments four-part stationery
forwarding address /fɔwədŋ ə
forwarding address
four P’s /fɔ piz/ plural noun a simple

four P’s
|
dres/ noun the address to which a per- way of summarising the essentials of the
son’s mail can be sent on marketing mix, which are Product, Price,
forwarding agent /fɔwədŋ
forwarding agent
Promotion and Place

ed$ənt/ noun a person or company fourth quarter /fɔθ kwɔtə/ noun a
fourth quarter
which arranges shipping and customs period of three months from 1st October
documents to the end of the year
forwarding instructions /fɔwədŋ
forwarding instructions
Fr abbr franc
Fr
nstrkʃənz/ plural noun instructions

fraction /frkʃən/ noun a very small
| fraction
showing how the goods are to be shipped

and delivered amount 쑗 Only a fraction of the new
share issue was subscribed.
forward integration /fɔwəd ntə
forward integration
fractional /frkʃənəl/ adjective very

| fractional
!reʃ(ə)n/ noun a process of expansion

in which a company becomes its own dis- small
fractional certificate /frkʃənəl sə
fractional certificate
tributor or takes over a company in the |
same line of business as itself 쑗 Forward tfkət/ noun a certificate for part of a
integration will give the company greater share
control over its selling. 쑗 Forward inte- franc / frŋk/ noun 1. a former unit of
franc
gration has brought the company closer currency in France and Belgium 쑗 French
to its consumers and has made it aware of francs or Belgian francs 2. a unit of cur-
their buying habits. Compare backward rency in Switzerland and several other
integration currencies 쑗 It costs twenty-five Swiss
forward market /fɔwəd mɑkt/ francs.
forward market
franchise /frntʃaz/ noun a licence

franchise
noun a market for purchasing foreign cur-

rency, oil or commodities for delivery at a to trade using a brand name and paying a
later date royalty for it 쑗 He’s bought a printing
169 freeholder
franchise or a pizza franchise. 쐽 verb to fraudulent misrepresentation
fraudulent misrepresentation
sell licences for people to trade using a /frɔdjυlənt msreprzenteʃ(ə)n/

| |
brand name and paying a royalty 쑗 His noun the act of making a false statement
sandwich bar was so successful that he with the intention of tricking a customer
decided to franchise it. free /fri/ adjective, adverb 1. not cost-
free
‘…many new types of franchised busi- ing any money 쑗 I have been given a free
nesses will join the ranks of the giant ticket to the exhibition. 쑗 The price in-
chains of fast-food restaurants, hotels and cludes free delivery. 쑗 All goods in the
motels and rental car agencies’ store are delivered free. 쑗 A catalogue
[Franchising Opportunities] will be sent free on request. 왍 free of
franchisee /frntʃazi/ noun a per-
franchisee
|
charge with no payment to be made 2.
son who runs a franchise with no restrictions 왍 free of tax with no
franchiser /frntʃazə/ noun a per-
franchiser
tax having to be paid 쑗 Interest is paid

son who licenses a franchise free of tax. 왍 free of duty with no duty to
be paid 쑗 to import wine free of duty 3.
franchising /frntʃazŋ/ noun the
franchising
not busy or not occupied 쑗 Are there any

act of selling a licence to trade as a fran- free tables in the restaurant? 쑗 I shall be
chise 쑗 She runs her sandwich chain as a free in a few minutes. 쑗 The chairman al-
franchising operation. ways keeps Friday afternoon free for a
franchising operation
franchising operation game of bridge. 쐽 verb to make some-

/frntʃazŋ ɒpəreʃ(ə)n/ noun an op-
|
thing available or easy 쑗 The govern-
eration involving selling licences to trade ment’s decision has freed millions of
as a franchise pounds for investment.
franchisor /frntʃazə/ noun another
franchisor
‘American business as a whole is increas-

spelling of franchiser ingly free from heavy dependence on man-
ufacturing’ [Sunday Times]
franco /frŋkəυ/ adverb free
franco
free baggage allowance /fri

free baggage allowance
frank /frŋk/ verb to stamp the date and

frank
b!d$ əlaυəns/ noun the amount of

|
postage on a letter baggage which a passenger can take with

franking machine /frŋkŋ mə
franking machine
| him free on a plane

ʃin/ noun a machine which marks the freebie /fribi/ noun a product or serv-
freebie
date and postage on letters so that the ice supplied free of charge, especially a
sender does not need to use stamps gift to an agent or journalist (informal)
fraud /frɔd/ noun an act of making
fraud
free collective bargaining /fri kə

free collective bargaining
money by making people believe some- lektv bɑ!nŋ/ noun negotiations be-
thing which is not true 쑗 He got posses- tween management and trade unions
sion of the property by fraud. 쑗 She was about wage increases and working condi-
accused of frauds relating to foreign cur- tions
rency. 왍 to obtain money by fraud to ob- free competition /fri kɒmpə
free competition
tain money by saying or doing something tʃ(ə)n/ noun the fact of being free to
to cheat someone compete without government interference
fraud squad /frɔd skwɒd/ noun the
fraud squad
free currency /fri krənsi/ noun a

free currency
special police department which investi- currency which is allowed by the govern-
gates frauds ment to be bought and sold without re-
fraudulent /frɔdjυlənt/ adjective not
fraudulent
striction
honest, or aiming to cheat people 쑗 a free enterprise /fri entəpraz/
free enterprise
fraudulent transaction noun a system of business free from gov-

ernment interference
fraudulent conversion
fraudulent conversion
/frɔdjυlənt kənv&ʃ(ə)n/ noun the act free gift /fri !ft/ noun a present giv-
free gift
of using money which does not belong to en by a shop to a customer who buys a
you for a purpose for which it is not sup- specific amount of goods 쑗 There is a free
posed to be used gift worth £25 to any customer buying a
fraudulently /frɔdjυləntli/ adverb washing machine.
fraudulently
not honestly 쑗 goods imported fraudu- freeholder /frihəυldə/ noun a person

freeholder
lently who owns a freehold property

freehold property 170

freehold property /frihəυld The company paying for the postage on
freehold property
prɒpəti/ noun property which the owner receipt of the envelope.

holds for ever and on which no rent is paid free sample / fri sɑmpəl/ noun a
free sample
free issue /fri ʃu/ noun same as

free issue
sample given free to advertise a product

scrip issue freesheet /friʃit/ noun same as free
freesheet
freelance /frilɑns/ adjective, noun

freelance
paper
(an independent worker) who works for free trade /fri tred/ noun a system
free trade
several different companies but is not em- where goods can go from one country to
ployed by any of them 쑗 We have about another without any restrictions
twenty freelances working for us or about ‘…can free trade be reconciled with a
twenty people working for us on a free- strong dollar resulting from floating ex-
lance basis. 쑗 She is a freelance journal- change rates?’ [Duns Business Month]
ist. 쐽 adverb selling your work to various
free trade area /fri tred eəriə/
free trade area
firms, but not being employed by any of

noun a group of countries practising free
them 쑗 He works freelance as a designer.
쐽 verb 1. to do work for several firms but
trade
free trader /fri tredə/ noun a person
free trader
not be employed by any of them 쑗 She

freelances for the local newspapers. 2. to who is in favour of free trade
send work out to be done by a freelancer ‘…free traders hold that the strong dollar
쑗 We freelance work out to several spe- is the primary cause of the nation’s trade
cialists. problems’ [Duns Business Month]
freelancer /frilɑnsə/ noun a free- free trade zone /fri tred zəυn/
free trade zone
freelancer
lance worker noun an area where there are no customs

free luggage allowance /fri
free luggage allowance
duties
l!d$ əlaυəns/ noun the amount of free trial /fri traəl/ noun an opportu-
free trial
luggage which a passenger can take with nity to test a machine or product with no
him free of charge payment involved
freely /frili/ adverb with no restric- freeze /friz/ noun 왍 a freeze on wages
freely freeze
tions 쑗 Money should circulate freely and prices period when wages and prices
within the EU. are not allowed to be increased 쐽 verb to
free market economy /fri mɑkt  keep something such as money or costs at
free market economy
kɒnəmi/ noun a system where the gov- their present level and not allow them to
ernment does not interfere in business ac- rise 쑗 to freeze wages and prices 쑗 to
tivity in any way freeze credits 쑗 to freeze company divi-
free on board /fri ɒn bɔd/ adjec-
free on board
dends 쑗 We have frozen expenditure at
tive 1. including in the price all the sell- last year’s level. (NOTE: freezing – froze
er’s costs until the goods are on the ship – frozen)
for transportation. Abbreviation f.o.b. 2. freeze out phrasal verb 왍 to freeze out
including in the price all the seller’s costs the competition to trade successfully
until the goods are delivered to a place and cheaply and so prevent competitors
free paper /fri pepə/ noun a news-
free paper
from operating
freeze on wages / friz ɒn wed$z/
freeze on wages
paper which is given away free, and

which relies for its income on its advertis- noun same as wage freeze
freight /fret/ noun 1. the cost of trans-
freight
ing
freephone /frifəυn/, freefone noun porting goods by air, sea or land 쑗 At an
freephone
a system where you can telephone to re- auction, the buyer pays the freight. 2.
ply to an advertisement, to place an order goods which are transported 왍 to take on
or to ask for information and the seller freight to load goods onto a ship, train or
pays for the call truck 쐽 verb 왍 to freight goods to send
free port /fri pɔt/ noun a port where
free port
goods 쑗 We freight goods to all parts of
there are no customs duties to be paid the USA.
freightage /fretd$/ noun the cost of
freightage
freepost /fripəυst/ noun a system

freepost
where someone can write to an advertiser transporting goods

freight car /fret kɑ / noun US a rail-
freight car
to place an order or to ask for information

to be sent, without paying for a stamp. way wagon for carrying goods
171 frozen assets

freight charges /fret tʃɑd$z/ plu- friendly society /frendli səsaəti/
freight charges friendly society
ral noun money charged for transporting noun a group of people who pay regular
goods 쑗 Freight charges have gone up subscriptions which are used to help
sharply this year. members of the group when they are ill or
freight collect /fret kəlekt/ noun in financial difficulties
freight collect
US an arrangement whereby the customer fringe benefit /frnd$ benft/ noun

fringe benefit
pays for transporting the goods an extra item given by a company to em-
freight costs /fret kɒsts/ plural
freight costs
ployees in addition to a salary, e.g. com-

noun money paid to transport goods pany cars or private health insurance 쑗
freight depot /fret depəυ/ noun a The fringe benefits make up for the poor
freight depot
central point where goods are collected pay. 쑗 Use of the company recreation fa-
before being shipped cilities is one of the fringe benefits of the
freight elevator /fret eləvetə/ job.
freight elevator
front /frnt/ noun 1. 왍 in front of be-

front
noun a strong lift for carrying goods up

and down inside a building fore or on the front side of something 쑗
freighter /fretə/ noun 1. an aircraft or They put up a ‘for sale’ sign in front of the
freighter
ship which carries goods 2. a person or factory. 쑗 The chairman’s name is in front
company that organises the transport of of all the others on the staff list. 2. a busi-
goods ness or person used to hide an illegal trade
freight forward /fret fɔwəd/ noun
freight forward
쑗 His restaurant is a front for a drugs or-
a deal where the customer pays for trans- ganisation.
front end /frnt end/ noun the part of
front end
porting the goods

freight forwarder /fret fɔwədə/ an organisation that meets and deals with
freight forwarder
noun a person or company that arranges customers face-to-face

shipping and customs documents for sev- front-end /frnt end/ adjective refer-
front-end
eral shipments from different companies, ring to the start of an investment or insur-
putting them together to form one large ance
shipment front-end loaded /frnt end
front-end loaded
‘…the airline will allow freight forwarder laυdd/ adjective referring to an insur-
customers to track and trace consignments ance or investment scheme where most of
on the airline’s website’ [Lloyd’s List] the management charges are incurred in
freightliner /fretlanə/ noun a train
freightliner
the first year of the investment or insur-

which carries goods in containers 쑗 The ance, and are not spread out over the
shipment has to be delivered to the whole period. Compare back-end load-
freightliner depot. ed
freight plane /fret plen/ noun an
freight plane
front-line management /frnt lan

front-line management
aircraft which carries goods, not passen- mnd$mənt/ noun managers who
gers have immediate contact with the employ-
freight train /fret tren/ noun a train
freight train
ees
used for carrying goods
front man /frnt mn/ noun a person
front man
frequent /frikwənt/ adjective which

frequent
who seems honest but is hiding an illegal

comes, goes or takes place often 쑗 There trade
is a frequent ferry service to France. 쑗 We
frozen /frəυz(ə)n/ adjective not al-
frozen
send frequent faxes to New York. 쑗 How

frequent are the planes to Birmingham? 쑗 lowed to be changed or used 쑗 Wages
We send frequent telexes to New York. have been frozen at last year’s rates. 왍 his
frequently /frikwəntli/ adverb often
frequently
assets have been frozen by the court the
쑗 The photocopier is frequently out of
court does not allow him to sell his assets.
쒁 freeze
use. 쑗 We email our New York office very
frozen account /frəυz(ə)n əkaυnt/
frozen account
frequently – at least four times a day. |
friction-free market /frkʃən fri

friction-free market
noun a bank account where the money
mɑkt/ noun a market in which there cannot be moved or used because of a
are few differences between competing court order
frozen assets /frəυz(ə)n sets/ plu-
frozen assets
products, so that the customer has an ex-

ceptionally free choice ral noun a company’s assets which by law
frozen credits 172

cannot be sold because someone has a fulfilment house /fυlflmənt haυs/
fulfilment house
claim against them noun a company which supplies orders

frozen credits /frəυz(ə)n kredtz/ on behalf of a mail-order company
frozen credits
full /fυl/ adjective 1. with as much inside

full
plural noun credits in an account which

cannot be moved it as possible 쑗 The train was full of com-
frustrate /frstret/ verb to prevent
frustrate
|
muters. 쑗 Is the container full yet? 쑗 We
something, especially the terms of a consent a lorry full of spare parts to our
tract, being fulfilled warehouse. 쑗 When the disk is full, don’t
forget to make a backup copy. 2. com-
FSA abbr Financial Services Authority
FSA
ft
plete, including everything 왍 we are
ft abbr foot working at full capacity we are doing as
much work as possible 3. 왍 in full com-
FT
FT abbr Financial Times

FTSE 100 /fυtsi wn hndrəd/ noun
FTSE 100
pletely 쑗 a full refund or a refund paid in
an index based on the prices of one hun- full 쑗 Give your full name and address or
dred leading companies (this is the main your name and address in full. 쑗 He ac-
London index) cepted all our conditions in full.
‘…the benchmark FTSE 100 index ended ‘…a tax-free lump sum can be taken partly
the session up 94.3 points’ [Times] in lieu of a full pension’ [Investors Chron-
icle]
FTSE All-Share Index /fυtsi ɔl ʃeə
FTSE All-Share Index
full cost pricing /fυl kɒst prasŋ/

full cost pricing
ndeks/ noun an index based on the mar- noun a pricing method based on assessing
ket price of about 840 companies listed on the full production cost of each product
the London Stock Exchange (it includes unit and adding a profit margin
the companies on the FTSE 100 Index,
full costs /fυl kɒsts/ plural noun all
full costs
the 250 Index, plus companies in other in-

dices) (NOTE: Also simply called the All- the costs of manufacturing a product, in-
Share Index.) cluding both fixed and variable costs
full cover /fυl kvə/ noun insurance
full cover
FTSE Mid 250 Share Index /fυtsi

FTSE Mid 250 Share Index
cover against all risks

md tu ffti ʃeə ndeks/ noun an in-
full employment /fυl mplɔmənt/
full employment
dex based on the market prices of 250 |
companies capitalised at between £300m noun a situation where all the people who
and £2.5bn (this is about 16% of the total can work have jobs
full factoring service / fυl fktərŋ
full factoring service
stock market capitalisation)

s&vs/ noun a service by which a factor
fuel /fjuəl/ noun material (like oil,
fuel
operates a client’s bought ledger and even

coal, gas) used to give power 쑗 The annu- takes on responsibility for his bad debts
al fuel bill for the plant has doubled over
full fare /fυl feə/ noun a ticket for a
full fare
the last years. 쑗 He has bought a car with

low fuel consumption. 쐽 verb to add to 쑗 journey by an adult who is paying the full
Market worries were fuelled by news of price
full payment /fυl pemənt/ noun the
full payment
an increase in electricity charges. 쑗 The

rise in the share price was fuelled by ru- paying of all money owed
full price /fυl pras/ noun a price with
full price
mours of a takeover bid. (NOTE: fuelled –

fuelling. The US spelling is fueled – no discount 쑗 She bought a full-price
fueling.) ticket.
fulfil /fυlfl/ verb to complete some- full rate / fυl ret/ noun the full charge,
full rate
fulfil
thing in a satisfactory way 쑗 The clause with no reductions

full refund /fυl rifnd/ noun a re-
full refund
regarding payments has not been fulfilled.

(NOTE: The US spelling is fulfill.) 왍 to fund of all the money paid 쑗 He got a full
fulfil an order to supply the items which refund when he complained about the
have been ordered 쑗 We are so under- service.
staffed that we cannot fulfil any more or- full repairing lease /fυl rpeərŋ
full repairing lease
ders before Christmas. lis/ noun a lease where the tenant has to
fulfilment /fυlflmənt/ noun the act of pay for all repairs to the property
fulfilment
full-scale /fυl skel/ adjective com-

full-scale
carrying something out in a satisfactory

way (NOTE: The US spelling is fulfill- plete or very thorough 쑗 The MD ordered
ment.) a full-scale review of credit terms. 쑗 The
173 furnished accommodation

HR department will start a full-scale re- 왍 to fund a company to provide money
view of the present pay structure. for a company to operate
‘…the administration launched a full- ‘…the S&L funded all borrowers’ devel-
scale investigation into maintenance pro- opment costs, including accrued interest’
cedures’ [Fortune] [Barrons]
full-service banking /fυl s&vs funded /fndd/ adjective backed by
full-service banking funded
bŋkŋ/ noun banking that offers a long-term loans 쑗 long-term funded cap-
whole range of services including mort- ital
gages, loans, pensions, etc. funded debt /fndd det/ noun the
funded debt
full-time /fυl tam/ adjective, adverb part of the British National Debt which
full-time
working all the usual working time, i.e. pays interest, but with no date for repay-
about eight hours a day, five days a week ment of the principal
쑗 She’s in full-time work or She works funding /fndŋ/ noun 1. money for
funding
full-time or She’s in full-time employment. spending 쑗 The bank is providing the

쑗 He is one of our full-time staff. funding for the new product launch. 2. the
full-time employment /fυl tam m act of changing a short-term debt into a
full-time employment
plɔmənt/ noun work for all of a work- long-term loan 쑗 The capital expenditure
ing day 쑗 to be in full-time employment programme requires long-term funding.
full-timer /fυl tamə/ noun a person fund management /fnd
fund management
full-timer
who works full-time mnd$mənt/ noun the business of

fully /fυli/ adverb completely
fully
dealing with the investment of sums of
money on behalf of clients
‘…issued and fully paid capital is $100
fund manager /fnd mnd$ə/
fund manager
million’ [Hongkong Standard]

noun a person who invests money on be-
fully connected world /fυli kə
fully connected world
|
half of clients
nektd w&ld/ noun a world where most
funds /fndz/ plural noun 1. money
funds
people and organisations are linked by the

Internet or similar networks which is available for spending 쑗 The
company has no funds to pay for the re-
fully-paid shares /fυli ped ʃeəz/
fully-paid shares
search programme. 쒁 non-sufficient

plural noun shares for which the full face funds 왍 the company called for extra
value has been paid funds the company asked for more mon-
fully paid-up capital /fυli ped p ey 왍 to run out of funds to come to the
fully paid-up capital
kpt(ə)l/ noun all money paid for the end of the money available 왍 to convert
issued capital shares funds to another purpose to use money
function /fŋkʃən/ noun a duty or job for a wrong purpose 2. government stocks
function
쐽 verb to work 쑗 The advertising cam- and securities

paign is functioning smoothly. 쑗 The new ‘…small innovative companies have been
management structure does not seem to hampered for lack of funds’ [Sunday
be functioning very well. Times]
function code /fŋkʃən kəυd/ noun
function code
‘…the company was set up with funds to-
a computer code that controls an action talling NorKr 145m’ [Lloyd’s List]
funny money /fni mni/ noun an
funny money
rather than representing a character

fund /fnd/ noun 1. money set aside for
fund
unusual type of financial instrument cre-
a special purpose 왍 the International ated by a company
furnish /f&nʃ/ verb 1. to supply or to
furnish
Monetary Fund (IMF) a type of bank

forming part of the United Nations which provide 쑗 The VAT office has asked up to
helps member states in financial difficul- furnish details of all our transactions
ties, gives financial advice to members since August. 2. to put furniture into an
and encourages world trade 2. money in- office or room 쑗 He furnished his office
vested in an investment trust as part of a with secondhand chairs and desks. 쑗 The
unit trust, or given to a financial adviser to company spent £10,000 on furnishing the
invest on behalf of a client. 쒁 funds 쐽 chairman’s office.
verb to provide money for a purpose 쑗 furnished accommodation
furnished accommodation
The company does not have enough re- /f&nʃt əkɒmədeʃ(ə)n/ noun a flat,
| |
sources to fund its expansion programme. house, etc., which is let with furniture in it
furnished lettings 174

furnished lettings /f&nʃt letŋs/ ing his membership of the council to fur-
furnished lettings
plural noun a furnished property to let ther his own interests.

future /fjutʃə/ adjective referring to
future
furniture depository /f&ntʃə d

furniture depository
time to come or to something which has

pɒzt(ə)ri/ noun a warehouse where you not yet happened 쐽 noun the time which
can store household furniture has not yet happened 쑗 Try to be more
further /f&ðə/ adjective 1. at a larger
further
careful in future. 쑗 In future all reports

distance away 쑗 The office is further must be sent to Australia by air.
down the High Street. 쑗 The flight from future delivery /fjutʃə dlv(ə)ri/
future delivery
Paris terminates in New York – for further noun delivery at a later date
destinations you must change to internal futures /fjutʃəz/ plural noun shares,
futures
flights. 2. additional or extra 쑗 the bank currency or commodities that are bought
has asked for further details or particu- or sold for now for delivery at a later date
lars 쑗 Further orders will be dealt with by 쑗 Gold rose 5% on the commodity futures
our London office. 쑗 Nothing can be done market yesterday.
while we are awaiting further instruc- ‘…cocoa futures plummeted in November
tions. 쑗 He had borrowed £100,000 and to their lowest levels in seven years’
then tried to borrow a further £25,000. 쑗 [Business in Africa]
futures contract /fjutʃəz
futures contract
The company is asking for further credit.

쑗 He asked for a further six weeks to pay. kɒntrkt/ noun a contract for the pur-
3. 왍 further to referring to something in chase of commodities for delivery at a
addition 왍 further to our letter of the date in the future
COMMENT: A futures contract is a contract
21st in addition to what we said in our let- to purchase; if investors are bullish, they
ter 왍 further to your letter of the 21st will buy a contract, but if they feel the
here is information which you asked for market will go down, they will sell one.
in your letter 왍 further to our telephone futurise /fjutjəraz/ verb to adapt an
futurise
conversation here is some information organisation to make sure that it is able to

which we discussed 쐽 verb to help to take full advantage of the latest technolo-
grow, to promote 쑗 He was accused of us- gies
G
g abbr gram garnishee /!ɑnʃi/ noun a person
g garnishee
G5 abbr Group of Five

G5
who owes money to a creditor and is or-
G8 abbr Group of Eight
G8
dered by a court to pay that money to a
G10 abbr Group of Ten
G10
creditor of the creditor, and not to the
creditor himself
gain /!en/ noun 1. an increase, or the
gain
garnishee order /!ɑnʃi ɔdə/

garnishee order
act of becoming larger 왍 gain in experi- |
ence the act of getting more experience 왍 noun a court order, making a garnishee
gain in profitability the act of becoming pay money not to the debtor, but to a third
more profitable 2. an increase in profit, party
gasoline /!səlin/ noun US a liquid,
gasoline
price or value 쑗 Oil shares showed gains

on the Stock Exchange. 쑗 Property shares made from petroleum, used to drive a car
put on gains of 10%-15%. 쐽 verb 1. to get engine (NOTE: The UK term is petrol.)
gatekeeper /!etkipə/ noun 1. a
gatekeeper
or to obtain 쑗 She gained some useful ex- |
perience working in a bank. 왍 to gain person who acts as a screen between a

control of a business to buy more than group and people outside the group (such
50% of the shares so that you can direct as an interviewer in the human resources
the business 2. to rise in value 쑗 The dol- department who screens job applicants)
lar gained six points on the foreign ex- 2. a person who controls the flow of infor-
change markets. mation within an organisation and so has
gainful employment /!enf(ə)l m a great influence on its policy
gainful employment
plɔmənt/ noun employment which gather /!ðə/ verb 1. to collect togeth-
gather
pays money er, to put together 쑗 He gathered his pa-

gainfully /!enf(ə)li/ adverb 왍 gain- pers together before the meeting started.
gainfully
fully employed working and earning 쑗 She has been gathering information on
money import controls from various sources. 2.
gallon /!lən/ noun a measure of liq-
gallon
to understand, to find out 쑗 I gather he
uids (= 4.5 litres) 왍 the car does twenty- has left the office. 쑗 Did you gather who
five miles per gallon, the car does twen- will be at the meeting?
gazumping /!əzmpŋ/ noun the
gazumping
ty-five miles to the gallon the car uses |
one gallon of petrol in travelling twenty- practice of offering a higher price for a
five miles house than another buyer has already
galloping inflation /!ləpŋ n
galloping inflation
|
agreed with the seller
fleʃ(ə)n/ noun very rapid inflation GDP abbr gross domestic product
GDP
which is almost impossible to reduce gear /!ə/ verb 1. to link something to

gear
game theory /!em θər/ noun a something else 왍 salary geared to the
game theory
mathematical method of analysis used in cost of living salary which rises as the
operational research to predict the out- cost of living increases 2. 왍 a company
comes of games of strategy and conflicts which is highly geared, a highly-geared
of interest. It is used to assess the likely company company which has a high pro-
strategies that people will adopt in situa- portion of its funds from fixed-interest
tions governed by a particular set of rules borrowings
and to identify the best approach to a par- gear up phrasal verb to get ready 쑗
ticular problem or conflict. The company is gearing itself up for ex-
gearing 176
pansion into the African market. 왍 to closed between Christmas and the New
gear up for a sales drive to make all the Year. 쑗 We generally give a 25% discount
plans and get ready for a sales drive for bulk purchases.
gearing /!ərŋ/ noun 1. a ratio of cap- general manager /d$en(ə)rəl
gearing general manager
ital borrowed by a company at a fixed rate mnd$ə/ noun a manager in charge of

of interest to the company’s total capital. the administration of a company
Also called leverage 2. the act of bor- general
general meeting
meeting /d$en(ə)rəl
rowing money at fixed interest which is mitŋ/ noun a meeting of all the share-
then used to produce more money than holders of a company or of all the mem-
the interest paid bers of a society
COMMENT: High gearing (when a compa-
general office /d$en(ə)rəl ɒfs/
general office
ny is said to be ‘highly geared’) indicates

that the level of borrowings is high when noun the main administrative office of a
compared to its ordinary share capital. A company
lowly-geared company has borrowings general store /d$en(ə)rəl stɔ/ noun
general store
which are relatively low. High gearing a small country shop which sells a large
has the effect of increasing a company’s
profitability when the company’s trading range of goods
general strike /d$en(ə)rəl strak/
general strike
is expanding. If the trading pattern slows

down, then the high interest charges as- noun a strike of all the workers in a coun-
sociated with gearing will increase the try
rate of slowdown.
general trading /d$en(ə)rəl
general trading
general /d$en(ə)rəl/ adjective 1. ordi-

general
nary or not special 2. dealing with every- tredŋ/ noun dealing in all types of
thing or with everybody goods
Generation X / d$enəreʃ(ə)n eks/
Generation X
general audit /d$en(ə)rəl ɔdt/

general audit
noun a process of examining all the books noun the generation of people who were
and accounts of a company born between 1963 and 1981 and began
their working lives from the 1980s on-
general average /d$en(ə)rəl
general average
wards (NOTE: The people who belong to

v(ə)rd$/ noun a process by which the Generation X are said to have chal-
cost of lost goods is shared by all parties lenged traditional corporate expecta-
to an insurance, such as in cases where tions by not being solely motivated by
some goods have been lost in an attempt money. Instead they want to establish a
to save the rest of the cargo balance between their professional and
General Delivery /d$en(ə)rəl d
General Delivery
|
personal lives, being in favour of flexible
lv(ə)ri/ noun US a system where letters working practices and valuing opportu-
can be addressed to someone at a post of- nities for learning and self-advance-
fice, where they can be collected 쑗 They ment.)
received the mail-order items via General generic /d$ənerk/ adjective which is
generic
Delivery. (NOTE: The UK term is poste shared by a group, and does not refer to
restante.) one individual 쐽 noun a product sold
general election /d$en(ə)rəl 
general election
|
without a brand name 쑗 Generics are
lekʃən/ noun election of a government cheap since they have no name to adver-
by all the voters in a country tise.
general expenses /d$en(ə)rəl k
general expenses
generous /d$en(ə)rəs/ adjective re-

generous
|
spensz/ plural noun all kinds of minor ferring to an amount that is larger than
expenses, the money spent on the day-to- usual or expected 쑗 She received a gener-
day costs of running a business ous redundancy payment. 쑗 The staff con-
general insurance /d$en(ə)rəl n
general insurance
|
tributed a generous sum for the manag-
ʃυərəns/ noun insurance covering all er’s retirement present.
kinds of risk, e.g. theft, loss or damage, gentleman /d$ent(ə)lmən/ noun 왍
gentleman
but excluding life insurance ‘gentlemen’ way of starting to talk to a

general lien /d$en(ə)rəl liən/ noun
general lien
group of men 쑗 ‘Good morning, gentle-

a right to hold goods or property until a men – if everyone is here, the meeting can
debt has been paid start.’ 쑗 ‘Well, gentlemen, we have all
generally /d$en(ə)rəli/ adverb nor-
generally
read the report from our Australian of-

mally or usually 쑗 The office is generally fice.’ 왍 ‘ladies and gentlemen’ way of
177 gift-wrap
starting to talk to a group of women and money back after I had complained to
men the manager. 쑗 He got his initial invest-
gentleman’s
gentleman’s agreement
agreement ment back in two months.

/d$ent(ə)lmənz ə!rimənt/ noun a |
get on phrasal verb 1. to work or man-
verbal agreement between two parties age 쑗 How is your new assistant getting
who trust each other on? 2. to succeed 쑗 My son is getting on
genuine /d$enjun/ adjective true or
genuine
well – he has just been promoted.
real 쑗 a genuine Picasso 쑗 a genuine get on with phrasal verb 1. to be
leather purse friendly or work well with someone 쑗
genuine article /d$enjun ɑtk(ə)l/
genuine article She does not get on with her new boss.
2. to go on doing work 쑗 The staff got
noun a real article, not an imitation
on with the work and finished the order
genuineness /d$enjυnnəs/ noun
genuineness
on time.
the state of being real, not being an imita- get out phrasal verb 1. to produce
tion something 쑗 The accounts department
genuine purchaser /d$enjun
genuine purchaser
got out the draft accounts in time for the

p&tʃsə/ noun someone who is really meeting. 2. to sell an investment
interested in buying (informal ) 쑗 He didn’t like what he read
geographical information system in the company’s annual report, so he
geographical information system
/d$iə!rfk(ə)l nfəmeʃ(ə)n | got out before the company collapsed.

sstəm/ noun a type of database which is get out of phrasal verb to stop trading
sorted on geographical data, such as a in a product or an area 쑗 The company
census, or one which provides maps on- is getting out of computers. 쑗 We got
screen. Abbreviation GIS out of the South American market.
geographical weighting /d$iə
geographical weighting
|
get round phrasal verb to avoid 쑗 We
!rfk(ə)l wetŋ/ noun a statistical tried to get round the embargo by ship-
process which gives more importance to ping from Canada.
some geographic areas than others in the get through phrasal verb 1. to speak to
process of reaching a final figure or result someone on the phone 쑗 I tried to get
Gesellschaft /!əzelʃɑft/ noun the
Gesellschaft
|
through to the complaints department.
German word for company 2. to be successful 쑗 She got through
her exams, so she is now a qualified en-
Gesellschaft mit beschränkter
Gesellschaft mit beschränkter Haftung
gineer. 3. to try to make someone un-

Haftung /!əzelʃɑft mt bəʃreŋktə | |
derstand 쑗 I could not get through to
hɑftυŋ/ noun a German private limited her that I had to be at the airport by
company. Abbreviation GmbH 2.15.
get /!et/ verb 1. to receive 쑗 We got a
get
gift /!ft/ noun a thing which is given to

gift
letter from the solicitor this morning. 쑗 someone

When do you expect to get more stock? 쑗
gift coupon /!ft kupɒn/, gift to-
gift coupon
He gets £250 a week for doing nothing. 쑗

She got £5,000 for her car. 2. to arrive at ken /!ft təυkən/, gift voucher /!ft
a place 쑗 The shipment got to Canada six vaυtʃə/ noun a card that can be used to
weeks late. 쑗 She finally got to the office buy specified goods up to the value print-
at 10.30. (NOTE: getting – got) ed on it, often issued by chain stores. The
get across phrasal verb to make
person receiving the voucher is able to re-
someone understand something 쑗 The deem it in any store in the chain. 쑗 We
gave her a gift token for her birthday.
manager tried to get across to the work-
gift inter vivos /!ft ntə vivəυs/
gift inter vivos
force why some people were being made

redundant. noun a gift given to another living person.
get along phrasal verb 1. to manage 쑗 Abbreviation GIV
gift shop /!ft ʃɒp/ noun a shop sell-
gift shop
We are getting along quite well with

only half the staff we had before. 2. to be ing small items which are given as
friendly or to work well with someone 쑗 presents
She does not get along very well with gift-wrap /!ft rp/ verb to wrap a
gift-wrap
her new boss. present in attractive paper 쑗 Do you want

get back phrasal verb to receive some- this book gift-wrapped? (NOTE: gift-
thing which you had before 쑗 I got my wrapping – gift-wrapped)
gift-wrapping 178
gift-wrapping /!ft rpŋ/ noun 1. a global /!ləυb(ə)l/ adjective 1. refer-
gift-wrapping global
service in a store for wrapping presents ring to the whole world 쑗 We offer a 24-
for customers 2. attractive paper for hour global delivery service. 왍 global
wrapping presents economy the economy of the whole
gig /!!/ noun a particular project or as- world 2. referring to all of something 쑗
gig
signment undertaken by an independent The management proposed a global re-

professional or freelance (informal ) view of salaries.
gilt-edged /!lt ed$d/ adjective refer- globalisation /!ləυbəlazeʃ(ə)n/,
gilt-edged globalisation
ring to an investment which is very safe globalization noun the process of mak-
gilt-edged securities /!lt ed$d s ing something international or world-
gilt-edged securities
kjυərtiz/ plural noun investments in wide, especially the process of expanding

British government stock business interests, operations and strate-
gilt-edged stock /!lt ed$d stɒk/
gilt-edged stock
gies to countries all over the world (NOTE:
noun same as government bonds Globalisation is due to technological de-
velopments that make global communi-
gilts /!lts/ plural noun same as gov-
gilts
cations possible, political developments

ernment bonds
such as the fall of communism and de-
gimmick /!mk/ noun a clever idea or
gimmick
velopments in transportation that make

trick 쑗 a publicity gimmick travelling faster and more frequent. It
giro /d$arəυ/ noun 1. same as bank
giro
can benefit companies by opening up

giro 2. a giro cheque new markets, giving access to new raw
Girobank /d$arəυbŋk/ noun a bank
Girobank
materials and investment opportunities

in a giro system 쑗 a National Girobank and enabling them to take advantage of
account 쑗 She has her salary paid into lower operating costs in other coun-
her National Girobank account. tries.)
giro system /d$arəυ sstəm/ noun a glocalisation /!ləυkəlazeʃ(ə)n/
giro system glocalisation
banking system in which money can be noun the process of adapting globalised
transferred from one account to another products or services to fit the needs of dif-
without writing a cheque ferent local markets and communities
give /!v/ verb 1. to pass something to around the world (NOTE: The word is a
give
someone as a present 쑗 The office gave combination of globalisation and locali-

him a clock when he retired. 2. to pass sation.)
something to someone 쑗 She gave the glue /!lu/ noun something such as in-
glue
documents to the accountant. 쑗 Do not formation that unifies organisations, sup-

give anybody personal details about staff ply chains and other commercial groups
members. 쑗 Can you give me some infor- glut /!lt/ noun 왍 a glut of produce too
glut
mation about the new computer system? much produce, which is then difficult to
3. to organise 쑗 The company gave a par- sell 쑗 a coffee glut or a glut of coffee 왍 a
ty on a boat to say goodbye to the retiring glut of money a situation where there is
sales director. (NOTE: giving – gave – too much money available to borrowers 쐽
given) verb to fill the market with something
give away phrasal verb to give some- which is then difficult to sell 쑗 The mar-
thing as a free present 쑗 We are giving ket is glutted with cheap cameras. (NOTE:
away a pocket calculator with each £10 glutting – glutted)
of purchases.
gm abbr gram
gm
giveaway /!vəwe/ adjective 왍 to sell

giveaway
GmbH abbr Gesellschaft mit beschränk-

GmbH
at giveaway prices to sell at very cheap

prices 쐽 noun something which is given ter Haftung
gnomes of Zurich /nəυmz əv
gnomes of Zurich
as a free gift when another item is bought

giveaway paper /!vəwe pepə/
giveaway paper
zjυərx/ plural noun important Swiss in-
noun a newspaper which is given away ternational bankers (informal )
GNP abbr gross national product
GNP
free, and which relies for its income on its

advertising go /!əυ/ verb 1. to move from one place
go
glad-hand /!ld hnd/ verb to shake to another 쑗 The cheque went to your
glad-hand
hands with and greet people at a business bank yesterday. 쑗 The plane goes to
party or meeting Frankfurt, then to Rome. 쑗 He is going to
179 goldmine
our Lagos office. 쑗 She went on a man- cern to sell a business as an actively trad-
agement course. 2. to be placed 쑗 The ing company
date goes at the top of the letter. (NOTE: going price /!əυŋ pras/ noun the
going price
going – went – gone) usual or current price, the price which is

go back on phrasal verb not to carry being charged now 쑗 What is the going
out something after you have promised price for 1975 Volkswagen Beetles?
to do it 쑗 Two months later they went going rate /!əυŋ ret/ noun the usu-
going rate
back on the agreement. al or current rate of payment 쑗 We pay the

go into phrasal verb to examine some- going rate for typists. 쑗 The going rate
thing carefully 쑗 The bank wants to go for offices is £10 per square metre.
into the details of the inter-company going to /!əυŋ tυ/ phrase 왍 to be go-
going to
loans. ing to do something to be just about to

go into business phrasal verb to start start doing something 쑗 The firm is going
in business 쑗 He went into business as a to open an office in New York next year. 쑗
car dealer. 쑗 She went into business in When are you going to answer my letter?
partnership with her son. gold bullion /!əυld bυliən/ noun
gold bullion
go liquid phrasal verb to convert as bars of gold

many assets as possible into cash gold card /!əυld kɑd/ noun a credit
gold card
go on phrasal verb 1. to continue 쑗 card issued to important customers, i.e.,

The staff went on working in spite of the those with a high income, which gives
fire. 쑗 The chairman went on speaking certain privileges such as a higher spend-
for two hours. 2. to work with 쑗 The fig- ing limit than ordinary credit cards
ures for 1998 are all he has to go on. 쑗 golden handcuffs /!əυld(ə)n
golden handcuffs
We have to go on the assumption that hndkfs/ plural noun a contractual ar-

sales will not double next year. (NOTE: rangement to make sure that a valued
You go on doing something.) member of staff stays in their job, by
go out of business phrasal verb to which they are offered special financial
stop trading 쑗 The firm went out of busi- advantages if they stay and heavy penal-
ness last week. ties if they leave
go public phrasal verb to become a golden handshake /!əυld(ə)n
golden handshake
public company by placing some of its hndʃek/ noun a large, usually tax-
shares for sale on the stock market so free, sum of money given to a director
that anyone can buy them who retires from a company before the
go-ahead /!əυ əhed/ noun 왍 to give end of his or her service contract 쑗 The
go-ahead
something the go-ahead to approve retiring director received a golden hand-

something or to say that something can be shake of £250,000.
done 쑗 My project got a government go- golden hello /!əυld(ə)n hələυ/ noun
golden hello
ahead. 쑗 The board refused to give the a cash inducement paid to someone to en-
go-ahead to the expansion plan. 쐽 adjec- courage them to change jobs and move to
tive energetic or keen to do well 쑗 He is a another company
very go-ahead type. 쑗 She works for a go- golden parachute
golden parachute
/!əυld(ə)n
ahead clothing company. prəʃut/, golden umbrella
goal /!əυl/ noun something which you /!əυld(ə)n mbrelə/ noun a large, usu-
goal
try to achieve 쑗 Our goal is to break even ally tax-free sum of money given to an ex-
within twelve months. 쑗 The company ecutive who retires from a company be-
achieved all its goals. fore the end of their service contract
golden share /!əυld(ə)n ʃeə/ noun a
golden share
godown /!əυdaυn/ noun a warehouse

godown
(in the Far East) share in a privatised company which is re-

tained by the government and carries spe-
going /!əυŋ/ adjective current
going
cial privileges such as the right to veto

going concern /!əυŋ kəns&n/ foreign takeover bids
going concern
noun a company that is actively trading goldmine /!əυldman/ noun a mine

goldmine
and making a profit 왍 sold as a going which produces gold 왍 that shop is a lit-
concern sold as an actively trading com- tle goldmine that shop is a very profitable
pany 왍 to sell a business as a going con- business
gold point 180

gold point /!əυld pɔnt/ noun an goodwill /!υdwl/ noun 1. good feel-
gold point goodwill
amount by which a currency which is ing towards someone 쑗 To show goodwill,

linked to gold can vary in price the management increased the terms of
gold reserves /!əυld rz&vz/ plural the offer. 2. the good reputation of a busi-
gold reserves
noun the country’s store of gold kept to ness, which can be calculated as part of a
pay international debts company’s asset value, though separate
gold shares /!əυld ʃeəz/ noun
gold shares
from its tangible asset value (the goodwill
shares in gold mines can include the trading reputation, the
gold standard /!əυld stndəd/
gold standard
patents, the trade names used, the value of
noun an arrangement that links the value a ‘good site’, etc., and is very difficult to
of a currency to the value of a quantity of establish accurately) 쑗 He paid £10,000
gold for the goodwill of the shop and £4,000
for the stock.
gondola /!ɒndələ/ noun a free-stand-
gondola
COMMENT: Goodwill can include such

ing display in a supermarket which shop- things as the trading reputation, the pat-
pers can walk round ents, the trade names used and the val-
good /!υd/ adjective 왍 a good deal (of) ue of a ‘good site’ and is very difficult to
good
a large amount (of) 쑗 We wasted a good establish accurately. It is an intangible

asset, and so is not shown as an asset in
deal of time discussing the arrangements a company’s accounts, unless it figures
for the meeting. 쑗 The company had to as part of the purchase price paid when
pay a good deal for the building site. 왍 a acquiring another company.
good many very many 쑗 A good many gopher /!əυfə/ noun an employee who
gopher
staff members have joined the union. carries out simple menial duties such as
good buy /!υd ba/ noun a thing
good buy
fetching and carrying things for a manag-

bought which is worth the money paid for er or another employee (NOTE: The usual
it 쑗 That watch was a good buy. US spelling is gofer.)
good industrial relations /!υd n go-slow /!əυ sləυ/ noun the slowing
good industrial relations
go-slow
dstriəl rleʃ(ə)nz/ plural noun a situ-

|
down of production by workers as a pro-
ation where management and employees test against the management 쑗 A series of
understand each others’ problems and go-slows reduced production. 쐽 verb to
work together for the good of the compa- protest against management by working
ny slowly
goods /!υdz/ plural noun items which
goods
‘…a general price freeze succeeded in

can be moved and are for sale 왍 goods in slowing the growth in consumer prices’
bond imported goods held by customs [Financial Times]
until duty is paid ‘…cash paid for stock: overstocked lines,
‘…profit margins are lower in the indus- factory seconds, slow sellers’ [Australian
tries most exposed to foreign competition Financial Review]
– machinery, transportation equipment ‘…the fall in short-term rates suggests a
and electrical goods’ [Sunday Times] slowing economy’ [Financial Times]
‘…the minister wants people buying govern /!v(ə)n/ verb to rule a country
govern
goods ranging from washing machines to 쑗 The country is governed by a group of

houses to demand facts on energy costs’
[Times] military leaders.
governance /!v(ə)nəns/ noun the
governance
goods and chattels /!υdz ən

goods and chattels
tʃt(ə)lz/ plural noun moveable person- philosophy of ruling, whether a country
al possessions or a company
Goods and Services Tax /!υdz ən
Goods and Services Tax
‘…the chairman has committed the cardi-
s&vsz tks/ noun a Canadian tax on nal sin in corporate governance – he acted
the sale of goods or the provision of serv- against the wishes and interests of the
shareholders’ [Investors Chronicle]
ices, similar to VAT. Abbreviation GST
‘…in two significant decisions, the Secu-
goods depot /!υdz depəυ/ noun a
goods depot
rities and Exchange Board of India today

central warehouse where goods can be allowed trading of shares through the In-
stored until they are moved ternet and set a deadline for companies to
goods train /!υdz tren/ noun a train
goods train
conform to norms for good corporate gov-

for carrying freight ernance’ [The Hindu]
181 graduated
government /!v(ə)nmənt/ noun an in a government-sponsored scheme to
government
organisation which administers a country help small businesses.

쐽 adjective coming from the government, government stock /!v(ə)nmənt
government stock
referring to the government 쑗 a govern- stɒk/ noun same as government

ment ban on the import of arms 쑗 Gov- bonds
ernment intervention or Intervention by government
government support
support
the government helped to solve the dis- /!v(ə)nmənt səpɔt/ noun a financial
|
pute. 쑗 Government employees can be- help given by the government 쑗 The air-
long to one of two unions. craft industry relies on government sup-
governmental /!v(ə)nment(ə)l/
governmental
|
port.
adjective referring to a government governor /!v(ə)nə/ noun 1. a person
governor
government annuity /!v(ə)nmənt

government annuity
in charge of an important institution 2.

ənjuəti/ noun money paid each year by
| US one of the members of the Federal Re-
the government serve Board
government-backed /!v(ə)nmənt
government-backed
Governor of the Bank of England

Governor of the Bank of England
bkt/ adjective backed by the govern- /!v(ə)nə əv ðə bŋk əv ŋ!lənd/

ment noun a person (nominated by the British
government bonds /!v(ə)nmənt
government bonds
government) who is in charge of the Bank

bɒndz/ plural noun bonds or other secu- of England (NOTE: The US term is Chair-
rities issued by the government on a regu- man of the Federal Reserve Board.)
lar basis as a method of borrowing money grace /!res/ noun a favour shown by
grace
for government expenditure granting a delay 쑗 to give a creditor a pe-

government contractor
government contractor
riod of grace or two weeks’ grace

/!v(ə)nmənt kəntrktə/ noun a |
grade /!red/ noun a level or rank 쑗 to
grade
company which supplies the government reach the top grade in the civil service 쐽
with goods by contract verb 1. to sort something into different
government-controlled levels of quality 쑗 to grade coal 쑗 He got
government-controlled
/!v(ə)nmənt kəntrəυld/ adjective | good grades in college. 2. to make some-

under the direct control of the govern- thing rise in steps according to quantity 왍
ment 쑗 Advertisements cannot be placed graded advertising rates rates which be-
in the government-controlled newspa- come cheaper as you take more advertis-
pers. ing space
government economic indicators graded hotel /!redd həυtel/ noun
government economic indicators graded hotel
/!v(ə)nmənt ikənɒmk ndketəz/| a good-quality hotel

plural noun statistics which show how the graded tax /!redd tks/ noun US
graded tax
country’s economy is going to perform in 1. a tax which rises according to income

the short or long term 2. a tax on property which is higher if the
government loan /!v(ə)nmənt
government loan
property has not been kept in a good state

ləυn/ noun money lent by the govern- by the owner
ment gradual /!rd$uəl/ adjective slow and
gradual
government pension
government pension
steady 쑗 The company saw a gradual re-

/!v(ə)nmənt penʃən/ noun a pension turn to profits. 쑗 Her CV describes her
paid by the state gradual rise to the position of company
government-regulated chairman.
government-regulated
/!v(ə)nmənt re!jυletd/ adjective gradually /!rd$uəli/ adverb slowly

gradually
regulated by the government and steadily 쑗 The company has gradual-

government sector /!v(ə)nmənt ly become more profitable. 쑗 She gradu-
government sector
sektə/ noun same as public sector ally learnt the details of the import-export
government
government securities
securities business.
/!v(ə)nmənt skjυərtiz/ plural noun graduate noun /!rd$uət/ a person
graduate
same as government bonds who has obtained a degree 쐽 verb

government-sponsored
government-sponsored
/!rd$uet/ to get a degree 쑗 She grad-
|
/!v(ə)nmənt spɒnsəd/ adjective en- uated from Edinburgh university last year.
graduated /!rd$uetd/ adjective
graduated
couraged by the government and backed

by government money 쑗 She is working changing in small regular stages
graduated income tax 182

grant-aided scheme /!rɑnt edd
graduated income tax grant-aided scheme
graduated income tax

/!rd$uetd nkm tks/ noun a tax skim/ noun a scheme which is funded by
which rises in steps, each level of income a government grant
being taxed at a higher percentage grapevine /!repvan/ noun an unof-
grapevine
graduated pension scheme
graduated pension scheme ficial communications network in an or-

/!rd$uetd penʃən skim/ noun a ganisation 쑗 I heard on the grapevine that
pension scheme where the benefit is cal- the managing director has been sacked.
graph /!rɑf/ noun a diagram which
graph
culated as a percentage of the salary of

each person in the scheme shows the relationship between two sets
graduated taxation / !rd$uetd
graduated taxation
of quantities or values, each of which is
tkseʃ(ə)n/ noun a tax system where
|
represented on an axis 쑗 A graph was
the percentage of tax paid rises as the in- used to show salary increases in relation
come rises to increases in output. 쑗 According to the
graph, as average salaries have risen so
graduate entry /!rd$uət entri/
graduate entry
has absenteeism. 쑗 We need to set out the

noun the entry of graduates into employ- results of the questionnaire in a graph.
ment with a company 쑗 the graduate en- gratia
try into the civil service

gratia 쏡 ex gratia
gratis /!rts/ adverb free or not cost-
gratis
graduate trainee /!rd$uət tre

graduate trainee
|
ing anything 쑗 We got into the exhibition
ni/ noun a person in a graduate training gratis.
scheme
gratuity /!rətjuti/ noun a tip, money
gratuity
graduate training scheme |
graduate training scheme given to someone who has helped you 쑗

/!rd$uət trenŋ skim/ noun a train- The staff are instructed not to accept gra-
ing scheme for graduates tuities.
gram /!rm/, gramme /!rm/ noun a great /!ret/ adjective large 왍 a great
gram
great
measure of weight (one thousandth of a deal of very much 쑗 He made a great

kilo) 쑗 First-class postage for letters is deal of money on the Stock Exchange. 쑗
26p for the first 20 grams. (NOTE: Usually There is a great deal of work to be done
written g or gm with figures: 25g.) before the company can be made really
grand /!rnd/ adjective important 왍 profitable.
grand
Depression /!ret d
Great Depression
grand plan or grand strategy a major Great |
plan 쑗 They explained their grand plan preʃ(ə)n/ noun the world economic cri-
for redeveloping the factory site. 쐽 noun sis of 1929–33
one thousand pounds or dollars (informal ) greenback /!rinbk/ noun US a dol-
greenback
쑗 They offered him fifty grand for the in- lar bill (informal)
formation. 쑗 She’s earning fifty grand ‘…gold’s drop this year is of the same
plus car and expenses. magnitude as the greenback’s 8.5% rise’
grand total /!rnd təυt(ə)l/ noun
grand total
[Business Week]
the final total made by adding several sub- green card /!rin kɑd/ noun 1. a spe-
green card
totals cial British insurance certificate to prove

grant /!rɑnt/ noun money given by the
grant
that a car is insured for travel abroad 2. an
government to help pay for something 쑗 identity card and work permit for a person
The laboratory has a government grant to going to live in the USA
green currency /!rin krənsi/
green currency
cover the cost of the development pro-

gramme. 쑗 The government has allocated noun formerly, a currency used in the EU
grants towards the costs of the scheme. 쐽 for calculating agricultural payments.
verb to agree to give someone something Each country had an exchange rate fixed
쑗 to grant someone a loan or a subsidy 쑗 by the Commission, so there were ‘green
to grant someone three weeks’ leave of pounds’, ‘green francs’, ‘green marks’,
absence 쑗 The local authority granted the etc.
company an interest-free loan to start up greenfield site /!rinfild sat/ noun
greenfield site
the new factory. a site for a factory which is in the country,

‘…the budget grants a tax exemption for and not surrounded by other buildings.
$500,000 in capital gains’ [Toronto Star] Compare brownfield site
183 ground landlord

greenmail /!rinmel/ noun the prac- gross earnings /!rəυs &nŋz/ plu-
greenmail gross earnings
tice of making a profit by buying a large ral noun total earnings before tax and oth-
number of shares in a company, threaten- er deductions
ing to take the company over, and then gross income /!rəυs nkm/ noun a
gross income
selling the shares back to the company at salary before tax is deducted
a higher price gross margin /!rəυs mɑd$n/ noun
gross margin
‘…he proposes that there should be a limit the percentage difference between the re-
on greenmail, perhaps permitting payment ceived price and the unit manufacturing
of a 20% premium on a maximum of 8% cost or purchase price of goods for resale.
of the stock’ [Duns Business Month] Abbreviation GM
Green Paper /!rin pepə/ noun a re- gross national product /!rəυs
Green Paper
gross national product
port from the British government on pro- nʃ(ə)nəl prɒdkt/ noun the annual
posals for a new law to be discussed in value of goods and services in a country
Parliament. Compare White Paper including income from other countries.
green pound /!rin paυnd/ noun a
green pound
Abbreviation GNP
gross negligence /!rəυs
gross negligence
value for the British pound used in calcu-

lating agricultural prices and subsidies in ne!ld$əns/ noun the act of showing
the EU very serious neglect of duty towards other
people
grey market /!re mɑkt/ noun an
grey market
gross profit /!rəυs prɒft/ noun a

gross profit
unofficial market run by dealers, where

new issues of shares are bought and sold profit calculated as sales income less the
before they officially become available cost of the goods sold, i.e. without de-
for trading on the Stock Exchange even ducting any other expenses
gross receipts /!rəυs rsits/ plural
gross receipts
before the share allocations are known |
noun the total amount of money received

grid /!rd/ noun a system of numbered
grid
before expenses are deducted

squares
gross salary /!rəυs sləri/ noun a
gross salary
grid structure /!rd strktʃə/ noun

grid structure
salary before tax is deducted

a structure based on a grid gross sales /!rəυs selz/ plural noun
gross sales
grievance /!riv(ə)ns/ noun a com-

grievance
money received from sales before deduc-

plaint made by an employee or trade un- tions for goods returned, special dis-
ion to the management counts, etc. 쑗 Gross sales are impressive
‘ACAS has a legal obligation to try and re- since many buyers seem to be ordering
solve industrial grievances before they more than they will eventually need.
reach industrial tribunals’ [Personnel To- gross tonnage /!rəυs tnd$/ noun
gross tonnage
day] the total amount of space in a ship

grievance procedure /!riv(ə)ns gross turnover /!rəυs t&nəυvə/
grievance procedure
gross turnover
prəsid$ə/ noun a way of presenting and

|
noun the total turnover including VAT
settling complaints from a trade union to and discounts
the management gross weight /!rəυs wet/ noun the
gross weight
gross /!rəυs/ noun twelve dozen (144)

gross
weight of both the container and its con-

쑗 He ordered four gross of pens. (NOTE: tents
no plural) 쐽 adjective total, with no de- gross yield /!rəυs jild/ noun a prof-
gross yield
ductions 쐽 adverb with no deductions 쑗 it from investments before tax is deducted

My salary is paid gross. 쐽 verb to make ground floor /!raυnd flɔ/ noun a
ground floor
as a gross profit or earn as gross income 쑗 floor (in a shop or office) which is level
The group grossed £25m in 1999. with the ground 쑗 he has a ground-floor
‘…gross wool receipts for the selling sea- office 쑗 The men’s department is on the
son to end June appear likely to top $2 bil- ground floor.
lion’ [Australian Financial Review] ground landlord /!raυnd lndlɔd/
ground landlord
gross domestic product /!rəυs də

gross domestic product
| noun a person or company that owns the

mestk prɒdkt/ noun the annual value freehold of a property which is then let
of goods sold and services paid for inside and sublet 쑗 Our ground landlord is an
a country. Abbreviation GDP insurance company.
ground lease 184

ground lease /!raυnd lis/ noun the are in fact now eleven members, since
ground lease
first lease on a freehold building Switzerland has joined the original ten. It
ground rent /!raυnd rent/ noun a
ground rent
is also called the ‘Paris Club’, since its
rent paid by the main tenant to the ground first meeting was in Paris. Abbreviation
landlord G10
group results /!rup rzlts/ plural
group results
grounds /!raυndz/ plural noun basic

grounds
|
reasons 쑗 Does she have good grounds noun the results of a group of companies
for complaint? 쑗 There are no grounds on taken together
groupthink /!rupθŋk/ noun a type
groupthink
which we can be sued. 쑗 What are the

grounds for the demand for a pay rise? of faulty thinking that can affect people
ground transportation /!raυnd
ground transportation
who are working together to make deci-
trnspɔteʃ(ə)n/ noun the means of
|
sions or solve problems. It occurs when
transport available to take passengers people’s eagerness to reach agreement
from an airport to the town, e.g. buses, with each other is stronger than their need
taxis, or trains to deal fully with the complexities of the
problem, so the result is often an unsatis-
group /!rup/ noun 1. several things or
group
factory compromise.
people together 쑗 A group of managers
group tool /!rup tul/ noun an elec-
group tool
has sent a memo to the chairman com-

plaining about noise in the office. 쑗 The tronic tool, e.g. videoconferencing or e-
respondents were interviewed in groups mail, that makes it possible for people
of three or four, and then singly. 2. several based in different locations to work to-
companies linked together in the same or- gether on a project
grow /!rəυ/ verb 1. to become larger 쑗
grow
ganisation 쑗 the group chairman or the

chairman of the group 쑗 group turnover The company has grown from a small re-
or turnover for the group 쑗 the Granada pair shop to a multinational electronics
Group 쐽 verb 왍 to group together to put business. 쑗 Turnover is growing at a rate
several items together 쑗 Sales from six of 15% per annum. 쑗 The computer in-
different agencies are grouped together dustry grew very rapidly in the 1980s.
under the heading ‘European sales’. (NOTE: growing – grew – has grown) 2.
group accounts /!rup əkaυntz/
group accounts
to cause something such as a business to
develop or expand
|
noun accounts for a holding company and

its subsidiaries ‘…the thrift had grown from $4.7 million
in assets to $1.5 billion’ [Barrons]
group insurance /!rup nʃυərəns/
group insurance
growth /!rəυθ/ noun 1. the fact of be-

| growth
noun an insurance scheme where a group

coming larger or increasing 왍 the compa-
of employees is covered by one policy
ny is aiming for growth the company is
Group of Eight /!rup əv et/ noun
Group of Eight
aiming to expand rapidly 2. the second

the G7 expanded to include Russia. Ab- stage in a product life cycle, following the
breviation G8 launch, when demand for the product in-
Group of Five /!rup əv fav/ noun
Group of Five
creases rapidly
a central group of major industrial nations ‘…a general price freeze succeeded in
(France, Germany, Japan, the UK and the slowing the growth in consumer prices’
US), now expanded to form the G7. Ab- [Financial Times]
breviation G5 ‘…growth in demand is still coming from
Group of Seven /!rup əv sev(ə)n/ the private rather than the public sector’
Group of Seven
noun a central group of major industrial [Lloyd’s List]

nations (Canada, France, Germany, Italy, ‘…population growth in the south-west is
Japan, the UK and the US) who meet reg- again reflected by the level of rental val-
ularly to discuss problems of internation- ues’ [Lloyd’s List]
growth area /!rəυθ eəriə/ noun an
growth area
al trade and finance. Abbreviation G7

Group of Ten /!rup əv ten/ noun
Group of Ten
area where sales are increasing rapidly
growth index /!rəυθ ndeks/ noun
growth index
the major world economic powers work-

ing within the framework of the IMF: an index showing how something has
Belgium, Canada, France, Germany, Ita- grown
growth industry /!rəυθ ndəstri/
growth industry
ly, Japan, Netherlands, Sweden, the Unit-

ed Kingdom and the United States. There noun an industry that is expanding or has
185 guilty
the potential to expand faster than other teed to workers (no employer can pay a
industries worker less than this wage)
growth rate / !rəυθ ret/ noun the guarantor /!rəntɔ/ noun a person
growth rate guarantor
speed at which something grows who promises to pay someone’s debts 쑗

growth share /!rəυθ ʃeə/ noun a She stood guarantor for her brother.
growth share
share which people think is likely to rise guess /!es/ noun a calculation made
guess
in value without any real information 쑗 The fore-

GST abbr Goods and Services Tax cast of sales is only a guess. 왍 an in-
GST
‘…because the GST is applied only to fees formed guess a guess which is based on
for brokerage and appraisal services, the some information 왍 it is anyone’s guess
new tax does not appreciably increase the no one really knows what is the right an-
price of a resale home’ [Toronto swer 쐽 verb 왍 to guess (at) something to
Globe & Mail] try to calculate something without any in-
guarantee /!rənti/ noun 1. a legal
guarantee
| formation 쑗 They could only guess at the

document in which the producer agrees to total loss. 쑗 The sales director tried to
compensate the buyer if the product is guess the turnover of the Far East divi-
faulty or becomes faulty before a specific sion.
date after purchase 쑗 a certificate of guesstimate /!estmət/ noun a
guesstimate
guarantee or a guarantee certificate 쑗 rough calculation (informal )

The guarantee lasts for two years. 쑗 It is
guideline /!adlan/ noun an unoffi-
guideline
sold with a twelve-month guarantee. 왍

cial suggestion from the government as to
the car is still under guarantee the car is
still covered by the maker’s guarantee 2. a how something should be done 쑗 The
government has issued guidelines on in-
promise that someone will pay another
person’s debts 왍 to go guarantee for creases in salaries and prices. 쑗 The in-
someone to act as security for someone’s crease in retail price goes against the
debts 3. something given as a security 쑗 government guidelines.
guild /!ld/ noun an association of mer-
guild
to leave share certificates as a guarantee

쐽 verb 1. to give a promise that some- chants or shopkeepers 쑗 a trade guild 쑗
thing will happen 왍 to guarantee a debt the guild of master bakers
guilder /!ldə/ noun a unit of currency
guilder
to promise that you will pay a debt made

by someone else 왍 to guarantee an asso- used before the euro in the Netherlands.
ciate company to promise that an associ- Also called florin (NOTE: Usually written
ate company will pay its debts 왍 to guar- fl before or after figures: fl25, 25fl.)
antee a bill of exchange to promise that ‘…the shares, which eased 1.10 guilders to
the bill will be paid 2. 왍 the product is fl49.80 earlier in the session, were sus-
guaranteed for twelve months the man- pended during the final hour of trading’
ufacturer says that the product will work [Wall Street Journal]
well for twelve months, and will mend it guilty /!lti/ adjective referring to a
guilty
free of charge if it breaks down person who has done something wrong 쑗
guaranteed minimum wage He was found guilty of libel. 쑗 The com-
guaranteed minimum wage
/!rəntid mnməm wed$/ noun pany was guilty of not reporting the sales
the lowest wage which is legally guaran- to the auditors.
H
쐽 adverb every six months 쑗 We pay the
ha
ha abbr hectare
haggle /h!(ə)l/ verb to discuss prices
haggle
account half-yearly.
hallmark /hɔlmɑk/ noun a mark put
hallmark
and terms and try to reduce them 쑗 to

haggle about or over the details of a con- on gold or silver items to show that the
tract 쑗 After two days’ haggling the con- metal is of the correct quality 쐽 verb to
tract was signed. put a hallmark on a piece of gold or silver
쑗 a hallmarked spoon
half /hɑf/ noun one of two equal parts
half
hammer /hmə/ noun 왍 to go under

hammer
into which something is divided 쑗 The

first half of the agreement is acceptable. 왍 the hammer to be sold by auction 왍 all
we share the profits half and half we the stock went under the hammer all
share the profits equally 쐽 adjective di- the stock was sold by auction 쐽 verb 1. to
vided into two parts 왍 to sell goods off at hit hard 왍 to hammer the competition to
half price at 50% of the price for which attack and defeat the competition 왍 to
they were sold before hammer prices to reduce prices sharply
‘…economists believe the economy is 2. to remove a business from the Stock
picking up this quarter and will do better in Exchange because it has failed
the second half of the year’ hammer out phrasal verb 왍 to ham-
[Sunday Times] mer out an agreement to agree some-
half a dozen /hɑf ə dz(ə)n/ noun
half a dozen
thing after long and difficult
six negotiations 쑗 The contract was finally
hammered out.
half a per cent /hɑf ə pə sent/ noun
half a per cent
hammered /hməd/ adjective 왍 they

hammered
0.5% were hammered (on the London Stock

half-dollar /hɑf dɒlə/ noun US fifty
half-dollar
Exchange) the firm was removed from

cents the Stock Exchange because it had failed
half fare /hɑf feə/ noun a half-price
half fare
‘…one of Britain’s largest independent

ticket for a child stockbrokers was hammered by the Stock
half-price /hɑf pras/ noun a sale of
half-price
Exchange yesterday, putting it out of busi-
all goods at half the price ness for good. The hammering leaves all
clients of the firm in the dark about the val-
half-price sale /hɑf pras sel/
half-price sale
ue of their investments and the future of

noun a sale of items at half the usual price uncompleted financing deals’ [Guardian]
half-year /hɑf jiə/ noun six months hammering /hmərŋ/ noun 1. a
half-year
hammering
of an accounting period 왍 to announce beating or severe losses 왍 the company

the results for the half-year to June took a hammering in Europe the com-
30th, the first half-year’s results results pany had large losses in Europe or lost
for the period January 1st to June 30th 쑗 parts of its European markets 왍 we gave
We look forward to improvements in the them a hammering we beat them com-
second half-year. mercially 2. (on the London Stock Ex-
half-yearly /hɑf jəli/ adjective hap- change) an announcement of the removal
half-yearly
pening every six months, or referring to a of a member firm because it has failed
period of six months 쑗 half-yearly ac- hand /hnd/ noun 1. 왍 by hand using
hand
counts 쑗 half-yearly payment 쑗 half- the hands, not a machine 쑗 These shoes
yearly statement 쑗 a half-yearly meeting are made by hand. 왍 to send a letter by
187 harbour dues

hand to ask someone to carry and deliver money paid to help someone in difficul-
a letter personally, not sending it through ties
the post 2. 왍 in hand kept in reserve 쑗 we handover /hndəυvə / noun the pass-
handover
have £10,000 in hand 왍 work in hand ing of responsibilities to someone else 쑗

work which is in progress but not finished The handover from the old chairman to
3. 왍 goods left on hand unsold goods left the new went very smoothly. 쑗 When the
with the retailer or manufacturer 쑗 They ownership of a company changes, the
were left with half the stock on their handover period is always difficult. 쑗
hands. 4. 왍 to hand here or present 왍 I There was a smooth handover to the new
have the invoice to hand I have the in- management team.
voice in front of me 5. a worker 쑗 to take hands-on /hndz ɒn/ adjective in-
hands-on
on ten more hands

volving direct contact with the working of
hand in phrasal verb to deliver a letter a system or organisation 쑗 We need a
by hand 왍 he handed in his notice or hands-on manager who will supervise op-
resignation he resigned erations closely. 쑗 More hands-on man-
hand over phrasal verb to pass some-
agement means we will have to increase
thing to someone 쑗 She handed over the the technical input in our management
documents to the lawyer. 왍 she handed training schemes.
over to her deputy she passed her re-
handwritten /hndrt(ə)n/ adjective
handwritten
sponsibilities to her deputy |
handbill /hndbl/ noun a sheet of

handbill
written by hand, not typed 쑗 It is more
printed paper handed out to members of professional to send in a typed rather than
the public as an advertisement a handwritten letter of application.
handy /hndi/ adjective useful or con-
handy
handbook /hndbυk/ noun a book

handbook
which gives instructions on how to use venient 쑗 They are sold in handy-sized
something 쑗 The handbook does not say packs. 쑗 This small case is handy for use
how you open the photocopier. when travelling.
handle /hnd(ə)l/ verb 1. to deal with
handle
hang on phrasal verb to wait (while
something or to organise something 쑗 phoning) 쑗 If you hang on a moment,
The accounts department handles all the the chairman will be off the other line
cash. 쑗 We can handle orders for up to soon.
15,000 units. 쑗 They handle all our over- hang up phrasal verb to stop a tele-
seas orders. 2. to sell or to trade in a type phone conversation by putting the tele-
of product 쑗 We do not handle foreign phone back on its hook 쑗 When I asked
cars. 쑗 They will not handle goods pro- him about the unpaid invoice, he hung
duced by other firms. up.
happen /hpən/ verb to take place by
happen
handling /hndlŋ/ noun 1. the mov-

handling
ing of something by hand 2. dealing with chance 쑗 The contract happened to arrive
something when the managing director was away on
‘…shipping companies continue to bear holiday. 쑗 He happened to be in the shop
the extra financial burden of cargo han- when the customer placed the order. 왍
dling operations at the ports’ [Business what has happened to? what went
Times (Lagos)] wrong with? what is the matter with?
handling charge /hndlŋ tʃɑd$/
handling charge
where is? 쑗 What has happened to that
noun money to be paid for packing, in- order for Japan?
harass /hrəs, hərs/ verb to worry
harass
voicing and dealing with goods which are |
being shipped or to bother someone, especially by con-

handmade /hndmed/ adjective tinually checking on them or making sex-
handmade
made by hand, not by machine 쑗 He ual approaches

writes all his letters on handmade paper. harbour /hɑbə/ noun a port, place
harbour
hand-operated /hnd ɒpəretd/ where ships come to load or unload

hand-operated
adjective worked by hand, not automati- (NOTE: The US spelling is harbor.)

cally 쑗 a hand-operated machine harbour dues /hɑbə djuz/ noun
harbour dues
handout /hndaυt/ noun 1. a free gift,

handout
payment which a ship makes to the har-

especially of money 쑗 The company ex- bour authorities for the right to use a har-
ists on handouts from the government. 2. bour
harbour installations 188

harbour installations /hɑbə nstə coming settled at a higher level 2. (of pric-
harbour installations
leʃ(ə)ns/ noun the buildings or equip- es) becoming settled at a higher level
hard market /hɑd mɑkt/ noun a
hard market
ment in a harbour
hard /hɑd/ adjective 1. strong, not
hard
market which is strong and not likely to
weak 왍 to take a hard line in trade un- fall
hardness /hɑdnəs/ noun 왍 hardness
hardness
ion negotiations to refuse to compromise

with the other side 2. difficult 쑗 It is hard of the market the state of the market
to get good people to work on low sala- when it is strong and not likely to fall
ries. 3. solid 4. 왍 after weeks of hard hard sell /hɑd sel/ noun 왍 to give a
hard sell
bargaining after weeks of difficult dis- product the hard sell to make great ef-
cussions 쐽 adverb with a lot of effort 쑗 forts to persuade people to buy a product
The sales team sold the new product 왍 he tried to give me the hard sell he put
range hard into the supermarkets. 쑗 If all a lot of effort into trying to make me buy
the workforce works hard, the order hard selling / hɑd selŋ/ noun the act
hard selling
should be completed on time. of selling by using great efforts 쑗 A lot of

‘…few of the paper millionaires sold out hard selling went into that deal.
and transformed themselves into hard cash hardware /hɑdweə/ noun 1. ma-
hardware
millionaires’ [Investors Chronicle] chines used in data processing, including

hard bargain /hɑd bɑ!n/ noun a the computers and printers, but not the
hard bargain
bargain with difficult terms 왍 to drive a programs 2. solid goods for use in the
hard bargain to be a difficult negotiator house, e.g. frying pans or hammers 쑗 a
왍 to strike a hard bargain to agree a deal hardware shop
where the terms are favourable to you harm /hɑm/ noun damage done 쑗 The
harm
hard cash /hɑd kʃ/ noun money in

hard cash
recession has done a lot of harm to export
notes and coins, as opposed to cheques or sales. 쐽 verb to damage 쑗 The bad pub-
credit cards licity has harmed the company’s reputa-
tion.
hard copy /hɑd kɒpi/ noun a print-
hard copy
hatchet man /htʃt mn/ noun a re-

hatchet man
out of a text which is on a computer

cently appointed manager, whose job is to
hard currency /hɑd krənsi/ noun
hard currency
make staff redundant and reduce expend-

the currency of a country which has a iture (informal )
strong economy, and which can be haul / hɔl/ noun a distance travelled
haul
changed into other currencies easily 쑗 to with a load of cargo 쑗 It is a long haul
pay for imports in hard currency 쑗 to sell from Birmingham to Athens.
raw materials to earn hard currency Also
haulage /hɔld$/ noun the cost of
haulage
called scarce currency. Opposite soft

currency
transporting goods by road 쑗 Haulage is
increasing by 5% per annum.
hard disk /hɑd dsk/ noun a compu-
hard disk
haulage contractor /hɔld$ kən

haulage contractor
ter disk which has a sealed case and can trktə/ noun a company which trans-
store large quantities of information ports goods by contract
‘…hard disks help computers function haulage costs /hɔld$ kɒsts/ noun
haulage costs
more speedily and allow them to store the cost or rates of transporting goods by
more information’ [Australian Financial road
Review]
haulage firm /hɔld$ f&m/ noun
haulage firm
hard drive /hɑd drav/ noun same as

hard drive
company which transports goods by road

hard disk
hawk /hɔk/ verb to sell goods from
hawk
harden /hɑd(ə)n/ verb to become door to door or in the street 왍 to hawk

harden
more fixed or more inflexible 쑗 The un- something round to take a product, an
ion’s attitude to the management has idea or a project to various companies to
hardened since the lockout. 왍 prices are see if one will accept it 쑗 He hawked his
hardening prices are settling at a higher idea for a plastic car body round all the
price major car constructors.
hardening /hɑd(ə)nŋ/ adjective 1. hawker /hɔkə / noun a person who
hardening hawker
(of a market) slowly moving upwards 왍 a sells goods from door to door or in the
hardening of prices prices which are be- street
189 Health and Safety at Work Act

hazard /hzəd/ noun a danger headline inflation rate / hedlan n
hazard headline inflation rate
hazardous substance /hzədəs

hazardous substance
fleʃ(ə)n ret/ noun a British inflation
sbstəns/ noun any substance that could figure which includes items such as mort-
be dangerous to people in the workplace, gage interest and local taxes, which are
e.g. a poisonous raw material, fumes or not included in the inflation figures for
by-product from a production process. other countries. Compare underlying in-
Employers have a duty to assess the risks flation rate
head of department /hed əv d
head of department
from hazardous substances to their staff |
and customers, and to ensure that no one pɑtmənt/ noun a person in charge of a
is exposed to danger. department
head office /hed ɒfs/ noun an office
head office
head /hed/ noun 1. the most important

head
person 2. a person 쑗 Representatives cost building where the board of directors

on average £25,000 per head per annum. works and meets
headquarters /hedkwɔtəz/ plural
headquarters
3. the top part or first part 쑗 Write the |
name of the company at the head of the noun the main office, where the board of
list. 쐽 adjective most important or main 쑗 directors meets and works 쑗 The compa-
Ask the head waiter for a table. 쐽 verb 1. ny’s headquarters are in New York. 왍 to
to be the manager, to be the most impor- reduce headquarters staff to have fewer
tant person 쑗 We are looking for someone people working in the main office. Abbre-
to head our sales department. 쑗 He is viation HQ
heads of agreement /hedz əv ə
heads of agreement
heading a buying mission to China. 2. to |
be first 쑗 The two largest oil companies !rimənt/ plural noun a draft agreement
head the list of stock market results. with not all the details complete
head for phrasal verb to go towards 왍 health /helθ/ noun 왍 to give a company
health
the company is heading for disaster a clean bill of health to report that a com-
the company is going to collapse pany is trading profitably
head up phrasal verb to be in charge of ‘…the main US banks have been forced to
쑗 He has been appointed to head up our pull back from international lending as
European organisation. nervousness continues about their finan-
‘…reporting to the deputy managing di- cial health’ [Financial Times]
rector, the successful candidate will be re- ‘…financial health, along with a dose of
sponsible for heading up a team which independence, has largely sheltered Ja-
provides a full personnel service’ [Times] pan’s pharmaceutical companies from a
head buyer /hed baə/ noun the most
head buyer
global wave of consolidation. Those as-
sets, however, are expected to soon lure
important buyer in a store foreign suitors too powerful to resist’
headed paper /hedd pepə / noun
headed paper
[Nikkei Weekly]
notepaper with the name of the company health and safety /helθ ən sefti/
health and safety
and its address printed on it (NOTE: The noun the area of policy and legislation
US term is letterhead.) that deals with the physical well-being of
headhunt /hedhnt/ verb to look for people in the workplace. Employers have
headhunt
managers and offer them jobs in other a legal duty to ensure that the working en-
companies 왍 she was headhunted she vironment and working practices are safe
was approached by a headhunter and of- and that the health of their employees is
fered a new job not harmed by the work that they do. In
the United Kingdom, health and safety is
headhunter /hedhntə/ noun a per-
headhunter
son or company whose job is to find suit- co-ordinated by the Health and Safety Ex-
ecutive. (NOTE: Health and safety within
able top managers to fill jobs in compa- an organisation is often co-ordinated by
nies a particular person, but it is the respon-
heading /hedŋ/ noun the words at the
heading
sibility of all employees.)

top of a piece of text 쑗 Items are listed un- Health and Safety at Work Act
Health and Safety at Work Act
der several headings. 쑗 Look at the figure (1974) /helθ ən sefti ət w&k kt/
under the heading ‘Costs 2001–02’. noun an Act of Parliament which rules
headlease /hedlis/ noun a lease from
headlease
how the health of employees should be

the freehold owner to a tenant protected by the companies they work for
health insurance 190

health insurance /helθ nʃυərəns/ hedge /hed$/ noun a protection against
health insurance hedge
noun insurance which pays the cost of a possible loss, which involves taking an
treatment for illness, especially when action which is the opposite of an action
travelling abroad taken earlier 왍 a hedge against inflation
healthy /helθi/ adjective 왍 a healthy investment which should increase in val-
healthy
balance sheet balance sheet which shows ue more than the increase in the rate of in-
a good profit 왍 the company made some flation 쑗 He bought gold as a hedge
very healthy profits, a very healthy against exchange losses. 쐽 verb to protect
profit made a large profit against the risk of a loss 왍 to hedge your
bets to make investments in several areas
heavily /hevli/ adverb 왍 he is heavily
heavily
so as to be protected against loss in one of

in debt he has many debts 왍 they are them 왍 to hedge against inflation to buy
heavily into property they have large in- investments which will rise in value faster
vestments in property 왍 the company than the increase in the rate of inflation
has had to borrow heavily to repay its
debts the company has had to borrow ‘…during the 1970s commercial property
large sums of money was regarded by investors as an alternative
to equities, with many of the same infla-
‘…the steel company had spent heavily on tion-hedge qualities’ [Investors Chroni-
new equipment’ [Fortune] cle]
heavy /hevi/ adjective 1. large or in
heavy
‘…the move saved it from having to pay

large quantities 쑗 a programme of heavy its creditors an estimated $270 million
investment overseas 쑗 He suffered heavy owed in connection with hedge contracts
losses on the Stock Exchange. 쑗 The gov- which began working against the company
ernment imposed a heavy tax on luxury when the price of gold rose unexpectedly
goods. 왍 heavy costs or heavy expendi- during September’ [Business in Africa]
ture large sums of money that have to be hedging /hed$ŋ/ noun the act of buy-
hedging
spent 2. which weighs a lot 쑗 The Post ing investments at a fixed price for deliv-
Office refused to handle the package be- ery later, so as to protect against possible
cause it was too heavy. 3. referring to a loss
share which has such a high price that height /hat/ noun 1. a measurement of
height
small investors are reluctant to buy it (in how tall or high something is 쑗 What is
which case the company may decide to
the height of the desk from the floor? 쑗 He
split the shares so as to make them more measured the height of the room from
attractive: in the UK, a share price of
floor to ceiling. 2. highest point 쑗 It is dif-
£10.00 is considered ‘heavy’, though ficult to find hotel rooms at the height of
many shares have higher prices than this)
the tourist season.
‘…heavy selling sent many blue chips
heir /eə/ noun a person who will receive
heir
tumbling in Tokyo yesterday’ [Financial

Times] property when someone dies 쑗 His heirs
heavy equipment
heavy equipment /hevi  |

split the estate between them.
heiress /eəres/ noun a female heir
heiress
kwpmənt/ noun large machines, such

as for making cars or for printing help / help/ noun a thing which makes it
help
heavy goods vehicle (HGV) /hevi easy to do something 쑗 The company was
heavy goods vehicle
!υdz vik(ə)l/ noun a large lorry used set up with financial help from the gov-
for carrying big loads ernment. 쑗 Her assistant is not much help
heavy industry / hevi ndəstri/ noun
heavy industry
– he can’t type or drive. 쐽 verb to make it
an industry which deals in heavy raw ma- easy for something to be done 쑗 the com-
terials such as coal or makes large prod- puter helps in the rapid processing of or-
ucts such as ships or engines ders or helps us to process orders rapidly
쑗 He helped the salesman carry his case
heavy lorry /hevi lɒri/ noun a very
heavy lorry
of samples. 쑗 The government helps ex-

large lorry which carries heavy loads porting companies with easy credit.
heavy machinery /hevi məʃinəri/
heavy machinery
| (NOTE: You help someone or something

noun large machines to do something.)
hectare /hekteə/ noun a measurement hereafter /hərɑftə/ adverb from this
hectare hereafter
of area of land (= 2.47 acres) time on

191 highly-geared company

hereby /həba/ adverb in this way, by high prices are above their usual level 쐽
hereby
this letter 쑗 We hereby revoke the agree- noun a point where prices or sales are
ment of January 1st 1982. very large 쑗 Prices have dropped by 10%
hereditament /herdtəmənt/ noun a
hereditament
|
since the high of January 2nd. 왍 highs
property, including land and buildings and lows on the Stock Exchange a list of
herewith /həwð/ adverb together
herewith
shares which have reached a new high or
low price in the previous day’s trading 왍
|
with this letter 쑗 Please find the cheque

enclosed herewith. sales volume has reached an all-time
high the sales volume has reached the
hesitate /heztet/ verb not to be sure
hesitate
highest point it has ever been at

what to do next 쑗 The company is hesitat-
‘American interest rates remain exception-
ing about starting up a new computer fac- ally high in relation to likely inflation
tory. 쑗 She hesitated for some time before rates’ [Sunday Times]
accepting the job. ‘…faster economic growth would tend to
HGV abbr heavy goods vehicle
HGV
push US interest rates, and therefore the

hidden /hd(ə)n/ adjective not possible
hidden
dollar, higher’ [Australian Financial Re-

to see 왍 hidden defect in the program view]
defect which was not noticed when the ‘…in a leveraged buyout the acquirer rais-
program was tested es money by selling high-yielding deben-
hidden asset /hd(ə)n set/ noun an
hidden asset
tures to private investors’ [Fortune]
high concept / ha kɒnsept/ noun an
high concept
asset which is valued much less in the

company’s accounts than its true market important and persuasive idea expressed
value clearly and in few words
high finance /ha fanns/ noun the
high finance
hidden economy /hd(ə)n 

hidden economy
kɒnəmi/ noun same as black economy lending, investing and borrowing of very
hidden reserves /hd(ə)n rz&vz/
hidden reserves
|
large sums of money organised by finan-
plural noun reserves which are not easy to ciers
high flier /ha flaə / noun 1. a person
high flier
identify in the company’s balance sheet.

Reserves which are illegally kept hidden who is very successful or who is likely to
are called ‘secret reserves’. rise to a very important position 2. a share
hierarchical /haərɑkk(ə)l/ adjec-
hierarchical
whose market price is rising rapidly
high-grade /ha !red/ adjective of
|
high-grade
tive referring to an organisation which has

several levels 쑗 The company has a very very good quality 쑗 high-grade petrol 왍
traditional hierarchical structure. high-grade trade delegation a delega-
hierarchy /haərɑki/ noun an organi-
hierarchy tion made up of very important people
sational structure with several levels of ‘…the accepted wisdom built upon for
responsibility or authority 쑗 At the bot- well over 100 years that government and
high-grade corporate bonds were almost
tom of the hierarchy are the unskilled riskless’ [Forbes Magazine]
workers.
high-income /ha nkm/ adjective
high-income
high /ha/ adjective 1. large, not low 쑗

high
giving a large income 쑗 high-income

High overhead costs increase the unit shares 쑗 a high-income portfolio
price. 쑗 High prices put customers off. 쑗
high-level /ha lev(ə)l/ adjective very
high-level
They are budgeting for a high level of ex-

penditure. 쑗 High interest rates are crip- important 왍 high-level decision a deci-
pling small businesses. 왍 high sales a sion taken by the most important person
large amount of revenue produced by or group
sales 왍 high taxation taxation which im- high-level language /ha lev(ə)l
high-level language
poses large taxes on incomes or profits 왍 lŋ!wd$/ noun programming lan-

highest tax bracket the group which guage which uses normal words and fig-
pays the most tax 왍 high volume (of ures
sales) a large number of items sold 2. 왍 highly /hali/ adverb very 왍 she is
highly
the highest bidder the person who offers highly thought of by the managing di-
the most money at an auction 쑗 The ten- rector the managing director thinks she is
der will be awarded to the highest bidder. very competent
쑗 The property was sold to the highest highly-geared company /hali
highly-geared company
bidder. 쐽 adverb 왍 prices are running !əd kmp(ə)ni/ noun company which
highly-paid 192
has a high proportion of its funds from lance 쐽 verb 1. to employ someone new
fixed-interest borrowings to work for you 왍 to hire staff to employ
highly-paid /hali ped/ adjective
highly-paid
someone new to work for you 2. 왍 to hire
earning a large salary out cars or equipment or workers to
highly-placed /hali plest/ adjec-
highly-placed
lend cars, equipment or workers to cus-
tive occupying an important post 쑗 The tomers who pay for their use
hire car /haə kɑ/ noun a car which
hire car
delegation met a highly-placed official in

the Trade Ministry. has been rented 쑗 He was driving a hire
car when the accident happened.
highly-priced /hali prast/ adjec-
highly-priced
hired /haəd/ adjective 왍 a hired car

hired
tive with a large price

car which has been rented
high office /ha ɒfs/ noun an impor-
high office
hire purchase /haə p&tʃs/ noun a

hire purchase
tant position or job in the government or

civil service system of buying something by paying a
sum regularly each month 쑗 to buy a re-
high official /ha əfʃ(ə)l/, high-
high official
|
frigerator on hire purchase (NOTE: The
ranking official /ha rŋkŋ əfʃ(ə)l/|
US term is installment credit, install-
noun an important person in a government plan or installment sale.) 왍 to
ment department sign a hire-purchase agreement to sign
high pressure /ha preʃə/ noun a
high pressure
a contract to pay for something by instal-

strong insistence that somebody should ments
do something 왍 working under high COMMENT: An agreement to hire a piece
pressure working very hard, with a man- of equipment, etc., involves two parties:
ager telling you what to do and to do it the hirer and the owner. The equipment
quickly, or with customers asking for sup- remains the property of the owner while
plies urgently the hirer is using it. Under a hire-pur-
chase agreement, the equipment re-
high-pressure salesman /ha
high-pressure salesman
mains the property of the owner until the

preʃə selzmən/, high-pressure hirer has complied with the terms of the
saleswoman noun a salesman or sales- agreement (i.e., until he has paid all
woman who forces a customer to buy monies due).
hire purchase agreement /haə
hire purchase agreement
something he or she does not really want

high-pressure sales technique
high-pressure sales technique
p&tʃs ə!rimənt/ noun a contract to
|
/ha preʃə selz teknik/ noun an at- pay for something by instalments
hire-purchase company /haə
|
hire-purchase company
tempt to force a customer to buy some-

thing he or she does not really want p&tʃs kmp(ə)ni/ noun a company
which provides money for hire purchase
high-quality /ha kwɒlt/ adjective
high-quality
hiring /haərŋ/ noun the act of em-

hiring
of very good quality 쑗 high-quality goods

쑗 a high-quality product ploying new staff 쑗 Hiring of new person-
nel has been stopped.
high season /ha siz(ə)n/ noun the
high season
histogram / hstə!rm/ noun same as

histogram
period when there are most travellers and

tourists bar chart
historic /hstɒrk/, historical /h
historic
high street /ha strit/ noun the main

high street
| |
shopping street in a British town 쑗 the stɒrk(ə)l/ adjective dating back over a
high street shops 쑗 a high street bookshop period of time
‘…the Federal Reserve Board has eased
High Street banks / ha strit
High Street banks
interest rates in the past year, but they are

bŋks/ plural noun the main British still at historically high levels’
banks which accept deposits from indi- [Sunday Times]
vidual customers ‘…the historic p/e for the FTSE all-share
hike /hak/ noun an increase 쐽 verb to
hike
index is 28.3 and the dividend yield is

increase barely 2 per cent. Both indicators suggest
hire / haə/ noun 1. an arrangement that the stock markets are very highly
hire
whereby customers pay money to be able priced’ [Times]

COMMENT: By tradition, a company’s ac-
to use a car, boat or piece of equipment counts are usually prepared on the his-
owned by someone else for a time 2. 왍 toric(al) cost principle, i.e. that assets are
‘for hire’ sign on a taxi showing it is costed at their purchase price. With infla-
empty 3. 왍 to work for hire to work free- tion, such assets are undervalued, and
193 hold
current-cost accounting or replacement- make something happen 쑗 The receiver
cost accounting may be preferred. will hold an auction of the company’s as-
historical figures /hstɒrk(ə)l sets. 4. 왍 hold the line please (on the tel-
historical figures
f!əz/ plural noun figures which were ephone) please wait 쑗 The chairman is
current in the past on the other line – will you hold? 5. to
historic cost /hstɒrk kɒst/, his- have a certain job or status 쑗 He holds the
historic cost
torical cost /hstɒrk(ə)l kɒst/ noun

| position of chairman. (NOTE: holding-
the actual cost of purchasing something held)
which was bought some time ago ‘…as of last night, the bank’s shareholders
hit /ht/ noun an action of accessing a no longer hold any rights to the bank’s
hit
website 쑗 We are averaging over 3,500 shares’ [South China Morning Post]
hits a day. 쐽 verb 1. to reach something 쑗 hold back phrasal verb to wait, not to
He hit his head against the table. 왍 we do something at the present time 왍 in-
have hit our export targets we have vestors are holding back until after
reached our targets 2. to hurt or to damage the Budget investors are waiting until
someone or something 쑗 The company they hear the details of the Budget be-
was badly hit by the falling exchange rate. fore they decide whether to buy or sell 왍
쑗 Our sales of summer clothes have been he held back from signing the lease
hit by the bad weather. 쑗 The new legisla- until he had checked the details he de-
tion has hit the small companies hardest. layed signing the lease until he had
(NOTE: hitting – hit) checked the details 왍 payment will be
hive off phrasal verb to split off part of held back until the contract has been
a large company to form a smaller sub- signed payment will not be made until
sidiary 쑗 The new managing director the contract has been signed
hived off the retail sections of the com- hold down phrasal verb 1. to keep at a
pany. low level 쑗 We are cutting margins to
H.M.
H.M. Customs and Excise
Customs and Excise hold our prices down. 2. 왍 to hold

/kstəmz ən/ noun 1. a UK government down a job to manage to do a difficult
department which deals with taxes on im- job
ports and on products such as alcohol pro- ‘…real wages have been held down; they
duced in the country. It also deals with have risen at an annual rate of only 1% in
VAT. 쑗 an Excise officer 2. an office of the last two years’ [Sunday Times]
this department at a port or airport hold on phrasal verb to wait, not to
change 왍 the company’s shareholders
hoard /hɔd/ verb 1. to buy and store
hoard
should hold on and wait for a better

goods in case of need 2. to keep cash in- offer they should keep their shares and
stead of investing it not sell them until they are offered a
hoarder /hɔdə/ noun a person who
hoarder
higher price
buys and stores goods in case of need hold out for phrasal verb to wait and
hoarding / hɔdŋ/ noun 1. 왍 hoarding ask for something 왍 you should hold
hoarding
of supplies the buying of large quantities out for a 10% pay rise you should not
of goods to keep in case of need 2. a large agree to a pay rise of less than 10%
wooden board for posters 3. US a tempo- hold over phrasal verb to postpone or
rary fence put up around a construction put back to a later date 쑗 Discussion of
site item 4 was held over until the next meet-
‘…as a result of hoarding, rice has become ing.
scarce with prices shooting up’ [Business hold to phrasal verb not to allow some-
Times (Lagos)] thing or someone to change 왍 we will
hold /həυld/ noun 1. the bottom part of try to hold him to the contract we will
hold
a ship or aircraft, in which cargo is carried try to stop him going against the con-
2. the action of keeping something 쐽 verb tract 왍 the government hopes to hold
1. to own or to keep something 쑗 She wage increases to 5% the government
holds 10% of the company’s shares. 왍 hopes that wage increases will not be
you should hold these shares – they more than 5%
look likely to rise you should keep these hold up phrasal verb 1. to stay at a
shares and not sell them 2. to contain 쑗 high level 쑗 Share prices have held up
Each box holds 250 sheets of paper. 3. to well. 쑗 Sales held up during the tourist
holdback 194
season. 2. to delay something 쑗 The credit cards as a means of preventing for-
shipment has been held up at customs. 쑗 gery
Payment will be held up until the con- home /həυm/ noun the place where a
home
tract has been signed. 쑗 The strike will person lives

hold up dispatch for some weeks. 쑗 The home address /həυm ədres/ noun
home address
employees are holding up production as

|
the address of a house or flat where a per-

a form of protest against poor condi- son lives 쑗 Please send the documents to
tions. my home address.
holdback /həυlbk/ noun a part of a
holdback
home banking /həυm bŋkŋ/

home banking
loan to a property developer which is not noun a system of banking using a person-
paid until the development is almost final computer in your own home to carry
ished out various financial transactions such as
holder /həυldə/ noun 1. a person who
holder
paying invoices or checking your bank

owns or keeps something 쑗 holders of account
government bonds or bondholders 쑗 home consumption /həυm kən
home consumption
holder of stock or of shares in a company smpʃən/ noun use of something in the

쑗 holder of an insurance policy or policy home
holder 2. a thing which keeps something,
home country /həυm kntri/ noun a
home country
which protects something

country where a company is based
holding /həυldŋ/ noun a group of
holding
homegrown /həυm!rəυn/ adjective

homegrown
shares owned 쑗 She has sold all her hold-

which has been developed in a local area
ings in the Far East. 쑗 The company has or in a country where the company is
holdings in German manufacturing com-
panies. based 쑗 a homegrown computer industry
쑗 India’s homegrown car industry
/həυldŋ
holding company
holding company home loan /həυm ləυn/ noun a loan

home loan
kmp(ə)ni/ noun 1. a company which by a bank or building society to help

owns more than 50% of the shares in an- someone buy a house
other company. 쒁 subsidiary company
homemade /həυmmed/ adjective
homemade
2. a company which exists only or mainly |
to own shares in subsidiary companies. 쒁 made in a home 쑗 homemade jam

home market /həυm mɑkt/ noun
home market
subsidiary (NOTE: [all senses] The US

term is proprietary company.) the market in the country where the sell-
hold-up /həυld p/ noun a delay 쑗 The
hold-up
ing company is based 쑗 Sales in the home
bad weather caused hold-ups in the dis- market rose by 22%.
homeowner /həυməυnə/ noun a per-
homeowner
patch of goods.
son who owns a private house or flat
holiday /hɒlde/ noun a period when
holiday
homeowner’s insurance policy
an employee does not work, but rests, homeowner’s insurance policy

goes away and does things for pleasure 쑗 /həυməυnəz nʃυərəns pɒlsi/ noun
|
When is the manager taking his holidays? insurance policy covering a house and its
쑗 My assistant is off on holiday tomor- contents and the personal liability of the
row. 쑗 He is going away on holiday for people living in it
homepage /həυmped$/ noun the
homepage
two weeks. (NOTE: The US term is vaca-

tion.) 왍 the job carries five weeks’ holi- first page that is displayed when you visit
day one of the conditions of the job is that a site on the Internet
you have five weeks’ holiday home-produced product /həυm
home-produced product
holiday entitlement /hɒlde n prədjust prɒdkt/ noun a product

holiday entitlement
| |
tat(ə)lmənt/ noun the number of days manufactured in the country where the
of paid holiday which an employee has company is based
the right to take 쑗 She has not used up all home run /həυm rn/ noun a very
home run
her holiday entitlement. great achievement (informal )

holiday pay /hɒlde pe/ noun a sal- home sales /həυm selz/ noun sales
holiday pay
home sales
ary which is still paid during the holiday in the country where a company is based
hologram /hɒlə!rm/ noun a three- home trade /həυm tred/ noun trade
hologram home trade
dimensional picture which is used on in the country where a company is based

195 hot-desking
homeward /həυmwəd/ adjective go- hope /həυp/ verb to expect, to want
homeward hope
ing towards the home country 쑗 The ship something to happen 쑗 We hope to be
is carrying homeward freight. 쑗 The liner able to dispatch the order next week. 쑗 He
left Buenos Aires on her homeward jour- is hoping to break into the US market. 쑗
ney. They had hoped the TV commercials
homewards /həυmwədz/ adverb to- would help sales.
homewards
wards the home country 쑗 cargo home- horizontal /hɒrzɒnt(ə)l/ adjective at

horizontal
wards the same level or with the same status 쑗

homeworker /həυmw&kə/ noun a Her new job is a horizontal move into a
homeworker
person who works at home for a company different branch of the business.
homeworking /həυmw&kŋ/ noun a
homeworking horizontal communication
horizontal communication
working method where employees work /hɒrzɒnt(ə)l kəmjunkeʃ(ə)n/
| |
at home on computer terminals, and send noun communication between employees

the finished material back to the central at the same level
office by modem. Also called network- horizontal integration
horizontal integration
ing, teleworking /hɒrzɒnt(ə)l nt!reʃ(ə)n/ noun the
|
/həmɒd$əna
homogenisation
homogenisation | | process of joining similar companies or

zeʃ(ə)n/ noun the tendency for different taking over a company in the same line of
products, markets and cultures to lose business as yourself
their characteristic differences and be- horse trading /hɔs tredŋ/ noun
horse trading
come the same (NOTE: Globalisation is of- hard bargaining which ends with some-
ten blamed for homogenisation.) one giving something in return for a con-
hon
hon abbr honorary cession from the other side

honest /ɒnst/ adjective respected,
honest
hostess / həυsts/ noun a woman who

hostess
saying what is right 왍 to play the honest looks after passengers or clients
broker to act for the parties in a negotia-
hostile bid /hɒstal bd/ noun a take-
hostile bid
tion to try to make them agree to a solu-

tion over bid where the board of the target
company does not recommend it to the
honorarium /ɒnəreəriəm/ noun
honorarium
|
shareholders and tries to fight it. Also
money paid to a professional person such called contested takeover
as an accountant or a lawyer when a spe-
cific fee has not been requested (NOTE: ‘…its largest shareholders are the found-
ing family, whose stake today has dwin-
The plural is honoraria.) dled to about 6%, hardly enough to block
honorary /ɒnərəri/ adjective not paid
honorary
a hostile bid’ [Fortune]

a salary for the work done for an organi- ‘Europe gets used to hostile takeover bids
sation 쑗 He is honorary president of the fought on the basis of shareholder value’
translators’ association. [Investors Chronicle]
honorary member /ɒnərəri
honorary member
‘…while hostile takeovers still inspire fear

membə/ noun a member who does not in Japan, friendly takeovers are likely to
have to pay a subscription become more common’ [Nikkei Weekly]
honorary secretary /ɒnərəri hosting /həυstŋ/ noun the business of
honorary secretary hosting
sekrət(ə)ri/ noun a person who keeps putting websites onto the Internet so that
the minutes and official documents of a people can visit them. 쒁 hosting option
committee or club, but is not paid a salary hosting option /həυstŋ ɒpʃən/
hosting option
honorary treasurer /ɒnərəri

honorary treasurer
noun any of the different kinds of hosting

tre$ərə/ noun a treasurer who does not that a business may use when putting a
receive any fee website on the Internet and that are usual-
honour /ɒnə/ verb to pay something ly provided by specialist hosting compa-
honour
because it is owed and is correct 쑗 to hon- nies. 쒁 collocation hosting, managed

our a bill (NOTE: The US spelling is hon- hosting, non-virtual hosting, virtual
or.) 왍 to honour a signature to pay hosting
something because the signature is cor- hot-desking /hɒt deskŋ/ noun a
hot-desking
rect flexible way of working that allows em-

hon sec
hon sec honorary secretary ployees to use any free workspace rather
hotel 196
than having a desk that they regard as hourly rate /aυəli ret/, hourly wage
hourly rate
their own /aυəli wed$/ noun the amount of mon-

hotel /həυtel/ noun a building where ey paid for an hour worked
hotel
you can rent a room for a night, or eat in hours of work /aυəz əv w&k/ plural
hours of work
a restaurant 쑗 His hotel bills were paid by noun the actual hours that an employee
the insurance company. 쑗 She put her ho- spends working, often many more than
tel expenses on her expense account. 쑗 those stated in his or her contract of em-
Hotel staff had instructions not to let him ployment and sometimes not covered by
into the hotel. overtime payments 쑗 Our hours of work
hotel accommodation /həυtel ə are 9.30 to 5.30, with an hour off for
hotel accommodation
| |
kɒmədeʃ(ə)n/ noun rooms available in

| lunch.
hotels 쑗 All hotel accommodation has house /haυs/ noun 1. a company 쑗 the
house
been booked up for the exhibition. largest London finance house 쑗 a broking
hotel chain /həυtel tʃen/ noun a house 쑗 a publishing house 2. the London
hotel chain
group of hotels owned by the same com- Stock Exchange

pany house agent /haυz ed$ənt/ noun an
house agent
hotelier /həυtelie/ noun a person who

hotelier
| estate agent who deals in buying or sell-

owns or manages a hotel ing houses or flats
hotelling /həυtelŋ/ noun the practice housecleaning /haυs klinŋ/ noun
hotelling housecleaning
| |
of using a desk or workspace in an office a general reorganising of a business 쑗 She

belonging to someone who is not your has mainly been performing houseclean-
employer. Hotelling is normally carried ing measures.
out by consultants or sales people, who household /haυshəυld/ noun a unit
household
spend more time with their customers formed of all the people living together in
than at their base. a single house or flat, whether it is a sin-
hotel trade /həυtel tred/ noun the
hotel trade
| gle person living alone, a married couple

business of running hotels or a large family
hotline /hɒtlan/ noun a special tele- householder / haυshəυldə/ noun a
hotline householder
phone ordering service set up for a special person who owns a private house or flat
period 쑗 a Christmas hotline household expenses /haυshəυld
household expenses
hot money /hɒt mni/ noun money kspenss/ noun money spent on running
hot money
which is moved from country to country a private house

to get the best returns household goods /haυshəυld
household goods
hour /aυə/ noun 1. a period of time last- !υdz/ plural noun items which are used
hour
ing sixty minutes 왍 to work a thirty-five in the home

hour week to work seven hours a day household insurance /haυshəυld
household insurance
each weekday 왍 we work an eight-hour

|
nʃυərəns/ noun the act of insuring a

|
day we work for eight hours a day, e.g. house and its contents against damage
from 8.30 to 5.30 with one hour for lunch
household insurance policy
household insurance policy
2. sixty minutes of work 쑗 She earns £14

an hour. 쑗 We pay £16 an hour. 왍 to pay /haυshəυld nʃυərəns pɒlsi/ noun
|
by the hour to pay people a fixed amount insurance policy covering a house and its
of money for each hour worked 3. 왍 out- contents and the personal liability of the
side hours or out of hours when the of- people living in it
household name /haυshəυld nem/
household name
fice is not open 쑗 He worked on the ac-

counts out of hours. noun a brand name which is recognised
hourly /aυəli/ adjective, adverb per
hourly
by a large number of consumers
house journal /haυs d$&n(ə)l/,
house journal
hour
‘…despite the Fed’s long-standing fears house magazine /haυs m!əzin/ |
that low unemployment will raise wage noun a magazine produced for the em-
costs, average hourly earnings grew by ployees or shareholders in a company to
just 3.6 per cent in the year to November’ give them news about the company
[Investors Chronicle] house phone /haυs fəυn/ noun a tel-
house phone
hourly-paid /aυəli ped/ adjective

hourly-paid
ephone for calling from one room to an-

paid at a fixed rate for each hour worked other in an office or hotel
197 hyperinflation
house property /haυs prɒpəti/ man resources must be looked after and
house property
noun private houses or flats, not shops, developed if we are to raise productivity
offices or factories successfully. Abbreviation HR. Also
house starts /haυs stɑts/, housing called personnel
house starts
starts /haυzŋ stɑts/ plural noun the ‘…effective use and management of hu-
number of new private houses or flats of man resources hold the key to future busi-
which the construction has begun during ness development and success’
a year [Management Today]
human resources department
human resources department
house style /haυs stal/ noun a com-

house style
pany’s own design which is used in all its /hjumən rzɔsz dpɑtmənt/ noun
| |
products, including packaging and sta- the section of the company which deals
tionery with its staff
house telephone /haυs telfəυn/ human resources manager
human resources manager
house telephone
noun a telephone for calling from one /hjumən rzɔsz mnd$ə/ noun a
|
room to another in an office or hotel person who is responsible for an organi-

house-to-house /haυs tə haυs/ ad-
house-to-house
sation’s productive use of its employees 쑗
jective going from one house to the next, She was appointed human resources man-
asking people to buy something or to vote ager because of her experience in man-
for someone 쑗 house-to-house canvass- power planning and recruitment.
human resources officer
ing 쑗 He trained as a house-to-house human resources officer

salesman. 쑗 House-to-house selling is /hjumən rzɔsz ɒfsə/ noun a per-
|
banned in this area. son who deals with the staff in a company,
HP abbr hire purchase
HP
especially interviewing candidates for
HQ abbr headquarters
HQ
new posts
hundredweight /hndrədwet/ noun
hundredweight
HR abbr human resources

HR
a weight of 112 pounds (about fifty kilos)

HTML /etʃ ti em el/ noun the stand-
HTML
hungry /hŋ!ri/ adjective wanting

hungry
ard computer code used to build and de-

velop webpages more sales, a bigger share of the market,
hub-and-spoke /hb ən spəυk/ ad-
hub-and-spoke etc. 쑗 After the cutbacks in staff, the com-
jective referring to any arrangement of pany is leaner and hungrier.
hurry /hri/ noun doing things fast 쑗
hurry
component parts that is similar to a wheel,

with a central hub and a series of spokes There is no hurry for the figures, we do
radiating outwards. The term can be ap- not need them until next week. 왍 in a hur-
plied to organisational structure, compu- ry very fast 쑗 The sales manager wants
ter network design, work processes, the report in a hurry. 쐽 verb to do some-
methods of service delivery or transport thing, to make something or to go very
systems. fast 쑗 The production team tried to hurry
humanagement /hjumnd$mənt/
humanagement
|
the order through the factory. 쑗 The
noun a style of management that empha- chairman does not want to be hurried into
sises the empowerment of employees making a decision. 쑗 The directors hur-
ried into the meeting.
human factors engineering
human factors engineering
hurry up phrasal verb to make some-

/hjumən fktəz end$nərŋ/, hu-
thing go faster 쑗 Can you hurry up that
|
man factor engineering /hjumən

order – the customer wants it immedi-
fktər end$nərŋ/ noun the work of
|
ately?
designing activities, facilities and systems
hype /hap/ noun excessive claims made
hype
in the workplace on the basis of an analy-

sis of human capabilities and needs so in advertising 쑗 all the hype surrounding
that the workplace can be fitted to the the launch of the new soap 쑗 Many con-
worker and employee performance can be sumers were actually put off by all the me-
improved (NOTE: Human factors engi- dia hype surrounding the launch of the
neering also tries to reduce risk by rais- new magazine. 쐽 verb to make excessive
ing safety levels.) claims in advertising
hyper- /hapə/ prefix very large
hyper-
human resources /hjumən r

human resources
sɔsz/ plural noun the employees which hyperinflation /hapərnfleʃ(ə)n/

hyperinflation
an organisation has available 쑗 Our hu- noun inflation which is at such a high per-
hyperlink 198
centage rate that it is almost impossible to website.) 2. a series of commands at-
reduce tached to a button or word on one web-
hyperlink /hapəlŋk/ noun 1. an im-
hyperlink
page that link it to another page, so that if

age or a piece of text that a user clicks on a user clicks on the button or word, the
in order to move directly from one web- hyperlink will move the user to another
page to another (NOTE: Hyperlinks can be position or display another page
added to webpages by using simple
hypermarket /hapəmɑkt/ noun a
hypermarket
HTML commands; they can also be

used in email messages, for example, to very large supermarket, usually outside a
include the address of a company’s large town, with car-parking facilities
I
ice /as/ noun 왍 to put something on ice illegal /li!(ə)l/ adjective not legal or
ice illegal
to file a plan or document as the best way against the law 왍 illegal contract con-
of forgetting about it 쑗 The whole expan- tract which cannot be enforced in law
sion plan was put on ice. (such as a contract to commit a crime)
ICT abbr information and communica- illegality /li!lti/ noun the fact of
ICT illegality
tions technologies being illegal

IDD abbr international direct dialling illegally /li!əli/ adverb against the
IDD illegally
ideal /adəl/ adjective perfect, very law 쑗 He was accused of illegally laun-
ideal
good for something 쑗 This is the ideal site dering money.

for a new hypermarket. illicit /lst/ adjective not legal or not
illicit
Ideal Home Exhibition /adəl permitted 쑗 the illicit sale of alcohol 쑗

Ideal Home Exhibition
həυm eksbʃən/ noun an annual exhi- trade in illicit alcohol

bition in London showing new houses, illiquid /lkwd/ adjective 1. referring
illiquid
new kitchens, etc. to an asset which is not easy to change

idle /ad(ə)l/ adjective 1. not working 쑗 into cash 2. used to describe a person or
idle
2,000 employees were made idle by the business that lacks cash or assets such as
recession. 2. 왍 idle machinery, ma- securities that can readily be converted
chines lying idle machinery not being into cash
used 왍 idle time period of time when a ILO abbr International Labour Organiza-
ILO
machine is available for production but tion

not doing anything image /md$/ noun the general idea
image
idle capital /ad(ə)l kpt(ə)l/ noun

idle capital
that the public has of a product, brand or

capital which is not being used produc- company 쑗 They are spending a lot of ad-
tively vertising money to improve the company’s
i.e. /ai, ðt z/ that is 쑗 The largest image. 쑗 The company has adopted a
i.e.
| |
companies, i.e. Smith’s and Brown’s, had down-market image. 왍 to promote the
a very good first quarter. 쑗 The import re- corporate image to publicise a company
strictions apply to expensive items, i.e. so that its reputation is improved
items costing more than $2,500. image-maker /md$ mekə/ noun
image-maker
IHT abbr inheritance tax

IHT
someone who is employed to create a fa-

199 importing
vourable public image for an organisa- type of work. 쐽 verb /mplment/ to put|
tion, product or public figure into action 쑗 to implement an agreement

IMF abbr International Monetary Fund 쑗 to implement a decision
IMF
imitate /mtet/ verb to do what some- implementation /mplmen

implementation
imitate
one else does 쑗 They imitate all our sales teʃ(ə)n/ noun the process of putting
gimmicks. something into action 쑗 the implementa-
imitation /mteʃ(ə)n/ noun some-
imitation
|
tion of new rules
thing which is a copy of an original 왍 be- import / mpɔt/ verb to bring goods
import
ware of imitations be careful not to buy from abroad into a country for sale 쑗 The
low-quality goods which are made to look company imports television sets from Ja-
like other more expensive items 쐽 adjec- pan. 쑗 This car was imported from
tive which copies something 쑗 He was France.
caught selling imitation Rolex watches in ‘European manufacturers rely heavily on
Oxford Street. imported raw materials which are mostly
immediate /midiət/ adjective hap- priced in dollars’ [Duns Business Month]
immediate
importance /mpɔtəns/ noun con-

importance
pening at once 쑗 We wrote an immediate |
letter of complaint. 쑗 Your order will re- siderable value or significance 쑗 The
ceive immediate attention. bank attaches great importance to the
immediately /midjətli/ adverb at deal.
immediately
once 쑗 He immediately placed an order important /mpɔtənt/ adjective

important
for 2,000 boxes. 쑗 As soon as he heard which matters a lot 쑗 He left a pile of im-
the news he immediately faxed his office. portant papers in the taxi. 쑗 She has an
쑗 Can you phone immediately you get the important meeting at 10.30. 쑗 I was pro-
information? moted to a more important job.
immovable /muvəb(ə)l/ adjective
immovable
| ‘…each of the major issues on the agenda

impossible to move at this week’s meeting is important to the
immovable property /muvəb(ə)l government’s success in overall economic
immovable property
prɒpəti/ noun houses and other build- management’

ings on land [Australian Financial Review]
importation /mpɔteʃ(ə)n/ noun
importation
immunity /mjunti/ noun protection

immunity
|
|
against arrest 왍 immunity from prosecu- the act of importing 쑗 The importation of
tion not being liable to be prosecuted arms is forbidden. 쑗 The importation of
livestock is subject to very strict controls.
impact /mpkt/ noun a shock or
impact
import ban /mpɔt bn/ noun an or-

import ban
strong effect 쑗 the impact of new technol-

ogy on the cotton trade 쑗 The new design der forbidding imports 쑗 The government
has made little impact on the buying pub- has imposed an import ban on arms.
import duty /mpɔt djuti/ noun a
import duty
lic.
‘…the strong dollar’s deflationary impact tax on goods imported into a country
importer /mpɔtə/ noun a person or
importer
on European economies as governments |
push up interest rates to support their sink- company that imports goods 쑗 a cigar im-
ing currencies’ [Duns Business Month] porter 쑗 The company is a big importer of
imperfect /mp&fkt/ adjective hav-
imperfect
| foreign cars.
ing defects 쑗 They are holding a sale of import-export /mpɔt ekspɔt/ ad-
import-export
imperfect items. 쑗 Check the batch for im- jective, noun referring to business which
perfect products. deals with both bringing foreign goods
imperfection /mpəfekʃən/ noun a
imperfection
|
into a country and sending locally made
defect in something 쑗 to check a batch for goods abroad 쑗 Rotterdam is an impor-
imperfections tant centre for the import-export trade. 쑗
impersonal /mp&s(ə)n(ə)l/ adjec- She works in import-export.
impersonal
tive without any personal touch or as if importing /mpɔtŋ/ adjective bring-

importing
done by machines 쑗 an impersonal style ing goods into a country 쑗 oil-importing

of management countries 쑗 an importing company 쐽
implement noun /mplmənt/ a tool
implement
noun the act of bringing foreign goods

or instrument used to do some work 쑗 We into a country for sale 쑗 The importing of
don’t have the right implements for this arms into the country is illegal.
import levy 200

import levy /mpɔt levi/ noun a tax improve /mpruv/ verb to make
import levy improve
on imports, especially in the EU a tax on something better, or to become better 쑗

imports of farm produce from outside the We are trying to improve our image with a
EU series of TV commercials. 쑗 They hope to
import licence /mpɔt las(ə)ns/, improve the company’s market share. 쑗
import licence
import permit noun an official docu- We hope the cash flow position will im-
ment which allows goods to be imported prove or we will have difficulty in paying
import quota /mpɔt kwəυtə/ noun
import quota
our bills. 왍 export trade has improved
a fixed quantity of a particular type of sharply during the first quarter export
goods which the government allows to be trade has increased suddenly and greatly
imported 쑗 The government has imposed in the first period of the year
a quota on the importation of cars. 쑗 The ‘…we also invest in companies whose
quota on imported cars has been lifted. growth and profitability could be im-
import restrictions / mpɔt r
import restrictions
|
proved by a management buyout’ [Times]
improve on phrasal verb to do better
strkʃ(ə)nz/ plural noun actions taken
by a government to reduce the level of im- than 왍 she refused to improve on her
ports by imposing quotas, duties, etc. previous offer she refused to make a
better offer
imports /mpɔts/ plural noun goods
imports
improved /mpruvd/ adjective better

improved
brought into a country from abroad for |
쑗 an improved offer
sale 쑗 Imports from Poland have risen to
improvement /mpruvmənt/ noun
improvement
$1m a year. (NOTE: Usually used in the |
plural, but the singular is used before a 1. the process of getting better 쑗 There is
noun.) no improvement in the cash flow situa-
import surcharge
import surcharge
/mpɔt tion. 쑗 Sales are showing a sharp im-

s&tʃɑd$/ noun the extra duty charged provement over last year. 쑗 Employees
on imported goods, to try to stop them have noticed an improvement in the work-
from being imported and to encourage lo- ing environment. 2. something which is
cal manufacture better 왍 an improvement on an offer an
act of making a better offer
import tariffs / mpɔt trfs/ plural
import tariffs
noun taxes on imports ‘…the management says the rate of loss-

making has come down and it expects fur-
impose /mpəυz/ verb to give orders
impose
|
ther improvement in the next few years’
for something regarded as unpleasant or [Financial Times]
unwanted such as a tax or a ban 쑗 to im- impulse /mpls/ noun a sudden deci-
impulse
pose a tax on bicycles 쑗 They tried to im- sion 왍 to do something on impulse to do

pose a ban on smoking. 쑗 The govern- something because you have just thought
ment imposed a special duty on oil. of it, not because it was planned
imposition /mpə zʃ(ə)n/ noun the
imposition
impulse buyer /mpls baə/ noun a

impulse buyer
|
act of imposing something person who buys something on impulse,

impossible /mpɒsb(ə)l/ adjective
impossible
|
not because he or she intended to buy it
which cannot be done 쑗 Getting skilled impulse buying /mpls baŋ/
impulse buying
staff is becoming impossible. 쑗 Govern- noun the practice of buying items which
ment regulations make it impossible for you have just seen, not because you had
us to export. planned to buy them
impound /mpaυnd/ verb to take
impound
impulse purchase /mpls p&tʃs/

| impulse purchase
something away and keep it until a tax is

noun something bought as soon as it is
paid 쑗 customs impounded the whole car- seen
go
IMRO abbr Investment Management
IMRO
impounding /mpaυndŋ/ noun an

impounding
act of taking something and keeping it un- Regulatory Organisation

in abbr inch
in
til a tax is paid

imprest system /mprest sstəm/ inactive /nktv/ adjective not active
inactive
imprest system
|
noun a system of controlling petty cash, or not busy

inactive account /nktv əkaυnt/
inactive account
where cash is paid out against a written | |
receipt and the receipt is used to get more noun a bank account which is not used
cash to bring the float to the original level over a period of time
201 income units

inactive market / nktv mɑkt/ inclusive charge /nklusv
inactive market inclusive charge
| |
noun a stock market with few buyers or tʃɑd$/, inclusive sum /nklusv|
sellers sm/ noun a charge which includes all

Inc abbr US incorporated
Inc
items or costs
income /nkm/ noun 1. money which
income
incentive / nsentv/ noun something

incentive
a person receives as salary or dividends 왍

|
which encourages a customer to buy, or

employees to work better lower income bracket, upper income
‘…some further profit-taking was seen bracket the groups of people who earn
yesterday as investors continued to lack low or high salaries considered for tax
fresh incentives to renew buying activity’ purposes 2. money which an organisation
[Financial Times] receives as gifts or from investments 쑗
‘…a well-designed plan can help compa- The hospital has a large income from
nies retain talented employees and offer gifts.
enticing performance incentives – all at an ‘…there is no risk-free way of taking reg-
affordable cost’ [Fortune] ular income from your money much high-
‘…the right incentives can work when er than the rate of inflation’ [Guardian]
income per head /nkm pə/, in-
income per head
used strategically’ [Management Today]

‘…an additional incentive is that the Japa- come per capita noun same as per cap-
nese are prepared to give rewards where ita income
they are due’ [Management Today] income shares / nkm ʃeəz/ plural
income shares
incentive bonus / nsentv bəυnəs/,

incentive bonus
| noun shares in an investment trust which

incentive payment /nsentv | receive income from the investments, but
pemənt/ noun an extra payment offered do not benefit from the rise in capital val-
to employees to make them work better ue of the investments
incentive scheme /nsentv skim/ incomes policy /nkmz pɒlsi/
incentive scheme incomes policy
noun a plan to encourage better work by noun the government’s ideas on how in-
paying higher commission or bonuses 쑗 comes should be controlled
Incentive schemes are boosting produc- income statement /nkm
income statement
tion. stetmənt/ noun US a statement of

inch /ntʃ/ noun a measurement of company expenditure and sales which
inch
length (= 2.54cm) 쑗 a 31/2 inch disk shows whether the company has made a
(NOTE: Usually written in or " after fig- profit or loss (NOTE: The UK term is prof-
ures: 2in or 2". Note also that the inch is it and loss account.)
now no longer officially used in the UK) income support /nkm səpɔt/
income support
incidental /nsdent(ə)l/ adjective noun a government benefit paid to low-

incidental
not important, but connected with some- income earners who are working less than
thing else 16 hours per week, provided they can
incidental expenses /nsdent(ə)l
incidental expenses
show that they are actively looking for
kspensz/ plural noun small amounts of
|
jobs. Abbreviation IS
income tax /nkm tks/ noun 1. the
income tax
money spent at various times in addition

to larger amounts tax on a person’s income, both earned and
include /nklud/ verb to count some-
include
|
unearned 2. the tax on the profits of a cor-
thing along with other things 쑗 The poration
income tax form /nkm tks
income tax form
charge includes VAT. 쑗 The total is £140

not including insurance and freight. 쑗 fɔm/ noun a form to be completed
The account covers services up to and in- which declares all income to the tax office
income tax return /nkm tks r
income tax return
cluding the month of June. |
inclusive /nklusv/ adjective count-

inclusive
|
t&n/ noun a form used for reporting how
ing something in with other things 쑗 in- much income you have earned and work-
clusive of tax 쑗 not inclusive of VAT 왍 ining out how much tax you have to pay on
clusive of including 쑗 inclusive of tax 쑗 it. Also called declaration of income
not inclusive of VAT 왍 the conference income units /nkm junts/ plural
income units
runs from the 12th to the 16th inclusive noun units in a unit trust, from which the
it starts on the morning of the 12th and investor receives dividends in the form of
ends on the evening of the 16th income
incoming 202
incoming /nkmŋ/ adjective 1. 왍 in- frequent 쑗 Stealing in shops is on the in-
incoming
coming call a phone call coming into the crease. 쐽 verb /nkris/ 1. to grow bigger
|
office from someone outside 왍 incoming or higher 쑗 Profits have increased faster
mail mail which comes into an office 2. than the increase in the rate of inflation.
referring to someone who has recently 쑗 Exports to Africa have increased by
been elected or appointed 쑗 the incoming more than 25%. 쑗 The price of oil has in-
chairman 왍 the incoming board of di- creased twice in the past week. 왍 to in-
rectors the new board which is about to crease in price to cost more 왍 to increase
start working in size or value to become larger or more
incompetent /nkɒmpt(ə)nt/ adjec-
incompetent
valuable 2. to make something bigger or
higher 왍 the company increased her sal-
|
tive unable to work effectively 쑗 The

sales manager is incompetent. 쑗 The ary to £20,000 the company gave her a
company has an incompetent sales direc- rise in salary to £20,000
tor. ‘…turnover has the potential to be in-
inconvertible / nkənv&təb(ə)l/ ad-
inconvertible
|
creased to over 1 million dollars with en-
ergetic management and very little capital’
jective referring to currency which cannot [Australian Financial Review]
be easily converted into other currencies
‘…competition is steadily increasing and
incorporate /nkɔpəret/ verb 1. to
incorporate
|
could affect profit margins as the company
bring something in to form part of a main tries to retain its market share’
group 쑗 Income from the 1998 acquisi- [Citizen (Ottawa)]
tion is incorporated into the accounts. 2. increasing /nkrisŋ/ adjective
increasing
to form a registered company 쑗 a compa- which is growing bigger 쑗 increasing

ny incorporated in the USA 쑗 an incorpo- profits 쑗 The company has an increasing
rated company 쑗 J. Doe Incorporated share of the market.
incorporation /nkɔpəreʃ(ə)n/
incorporation
increasingly /nkrisŋli/ adverb

increasingly
| |
|
noun an act of incorporating a company more and more 쑗 The company has to de-
COMMENT: A corporation (a body which is pend increasingly on the export market.
legally separate from its members) is
increment /ŋkrmənt/ noun a regular
increment
formed in one of three ways: 1) registra-

tion under the Companies Act (the nor- automatic increase in salary 쑗 an annual
mal method for commercial companies); increment 왍 salary which rises in annu-
2) granting of a royal charter; 3) by a spe- al increments of £1000 each year the sal-
cial Act of Parliament. A company is in- ary is increased by £1000
corporated by drawing up a memoran-
incremental /ŋkrment(ə)l/ adjec-
incremental
dum and articles of association, which |
are lodged with Companies House. tive rising automatically in stages

incorrect /nkərekt/ adjective wrong incremental cost /ŋkrment(ə)l
incorrect incremental cost
쑗 The minutes of the meeting were incor- kɒst/ noun the cost of making extra units
rect and had to be changed. above the number already planned. This
Incoterms /ŋkəυt&mz/ noun a
Incoterms
may then include further fixed costs.
incremental increase
incremental increase
standard definition (by the International

Chamber of Commerce) of terms (such as /ŋkrment(ə)l nkris/ noun an in-
‘FOB’ or ‘cif’) used in international trade crease in salary according to an agreed
increase noun /nkris/ 1. an act of be-
increase
annual increment
incrementalism /ŋkr
incrementalism
coming larger 쑗 There have been several |
increases in tax or tax increases in the last mentəlz(ə)m/ noun the philosophy or
few years. 쑗 There is an automatic 5% in- practice of making improvements by
crease in price or price increase on Janu- small and gradual steps. The is often used
ary 1st. 쑗 Profits showed a 10% increase collectively term for the many initiatives
or an increase of 10% on last year. 왍 in- of the 1980s and 1990s, e.g. total quality
crease in the cost of living a rise in the management, continuous improvement,
annual cost of living 2. a higher salary 쑗 and benchmarking, that took a small-step
increase in pay or pay increase 쑗 The approach to improving quality and pro-
government hopes to hold salary increas- ductivity and reducing costs.
es to 3%. 왍 she had two increases last incremental scale /ŋkrment(ə)l
incremental scale
year her salary went up twice 3. 왍 on the skel/ noun a salary scale with regular
increase growing larger, becoming more annual salary increases
203 index letter

incur /nk&/ verb to make yourself lia- independents /ndpendənts/ plural
incur independents
| |
ble to something 왍 to incur the risk of a noun shops or companies which are
penalty to make it possible that you risk owned by private individuals or families
paying a penalty 왍 the company has in- ‘…many independents took advantage of
curred heavy costs to implement the ex- the bank holiday period when the big mul-
pansion programme the company has tiples were closed’ [The Grocer]
had to pay large sums of money independent trader /ndpendənt
independent trader
‘…the company blames fiercely competi- tredə/, independent shop

tive market conditions in Europe for a /ndpendənt ʃɒp/ noun a shop which
£14m operating loss last year, incurred de- is owned by an individual proprietor, not
spite a record turnover’ [Financial Times] by a chain
indebted /ndetd/ adjective owing
indebted
in-depth study /n depθ stdi/ noun

in-depth study
|
money to someone 쑗 to be indebted to a a thorough painstaking study

property company index /ndeks/ noun 1. a list of items
index
indecisive /ndsasv/ adjective not

indecisive
|
classified into groups or put in alphabeti-
able to make up one’s mind or to decide cal order 2. a regular statistical report
on something important 쑗 He is too inde- which shows rises and falls in prices, val-
cisive to be a good manager. ues or levels 3. a figure based on the cur-
indemnification /ndemnfkeʃən/
indemnification
|
rent market price of shares on a stock ex-
noun payment for damage change 쐽 verb to link a payment to an in-
indemnify /ndemnfa/ verb to pay dex 쑗 salaries indexed to the cost of living
indemnify
for damage 쑗 to indemnify someone for a ‘…the index of industrial production sank
loss 0.2 per cent for the latest month after ris-
indemnity /ndemnti/ noun 1. a ing 0.3 per cent in March’
indemnity
guarantee of payment after a loss 쑗 She [Financial Times]

had to pay an indemnity of £100. 2. com- ‘…an analysis of the consumer price index
pensation paid after a loss for the first half of the year shows that the
rate of inflation went down by 12.9 per
indent noun /ndent/ 1. an order
indent
cent’ [Business Times (Lagos)]

placed by an importer for goods from
indexation /ndekseʃ(ə)n/ noun the
indexation
overseas 쑗 They put in an indent for a new |
stock of soap. 2. a line of typing which linking of something to an index

indexation of wage increases
indexation of wage increases
starts several spaces from the left-hand

margin 쐽 verb /ndent/ 1. 왍 to indent |
/ndekseʃ(ə)n əv wed$ nkrisz/
for something to put in an order for noun the linking of wage increases to the
something 쑗 The department has indent- percentage rise in the cost of living
index card /ndeks kɑd/ noun a card
index card
ed for a new computer. 2. to start a line of

typing several spaces from the left-hand used to make a card index
margin 쑗 Indent the first line three spac- indexed portfolio /ndekst pɔt
indexed portfolio
es. fəυliəυ/ noun a portfolio of shares in all

indenture /ndentʃə/ noun US a for-
indenture
| the companies which form the basis of a

mal agreement showing the terms of a stock exchange index
bond issue 쐽 verb to contract with an ap- index fund /ndeks fnd/ noun an in-
index fund
prentice who will work for some years to vestment fund consisting of shares in all
learn a trade 쑗 He was indentured to a the companies which are used to calculate
builder. a Stock Exchange index (NOTE: The plu-
indentures /ndentʃəz/ plural noun a
indentures
| ral is indexes or indices.)

contract by which an apprentice works for indexing /ndeksŋ/ noun a method of
indexing
a master for some years to learn a trade showing changes in a value over time by
independent /ndpendənt/ adjec-
independent
| starting with a simple base point such as

tive not under the control or authority of 100, which then serves as a reference
anyone else point for future years 쑗 Indexing is used
independent
independent company
company to show the rise in the cost of living over

/ndpendənt kmp(ə)ni/ noun a com- a ten-year period.
index letter /ndeks letə/ noun a let-
index letter
pany which is not controlled by another

company ter of an item in an index
index-linked 204
index-linked /ndeks lŋkt/ adjec- individual /ndvd$uəl/ noun one
index-linked individual
tive rising automatically by the percent- single person 쑗 a savings plan tailored to
age increase in the cost of living 쑗 index- the requirements of the private individual
linked government bonds 쑗 Inflation did 쐽 adjective single or belonging to one
not affect her as she has an index-linked person 쑗 a pension plan designed to meet
pension. each person’s individual requirements 쑗
‘…two-year index-linked savings certifi- We sell individual portions of ice cream.
cates now pay 3 per cent a year tax free, in inducement /ndjusmənt/ noun
inducement
addition to index-linking’ [Financial something which helps to persuade some-

Times] one to do something 쑗 They offered her a
index number /ndeks nmbə/
index number
company car as an inducement to stay.

noun 1. a number of something in an in- induction /ndkʃən/ noun an intro-
induction
dex 2. a number showing the percentage duction to a new organisation or a new job
rise of something over a period
induction course /ndkʃən kɔs/,
induction course
indicate /ndket/ verb to show some-

indicate
|
induction training /ndkʃən trenŋ/

thing 쑗 The latest figures indicate a fall in
|
noun a programme intended to help a per-

the inflation rate. 쑗 Our sales for last son entering an organisation or starting a
year indicate a move from the home mar- new job 쑗 The company is organising a
ket to exports. two-day induction course for new em-
indicator / ndketə/ noun something
indicator
ployees. 쑗 The induction course spelt out

which indicates the main objectives and procedures of the
‘…it reduces this month’s growth in the organisation.
key M3 indicator from about 19% to 12%’ industrial /ndstriəl/ adjective refer-
industrial
[Sunday Times] ring to manufacturing work 왍 to take in-

‘…we may expect the US leading eco- dustrial action to go on strike or go-slow
nomic indicators for April to show faster
economic growth’ [Australian Financial ‘…indications of renewed weakness in the
Review] US economy were contained in figures on
industrial production for April’ [Financial
‘…other indicators, such as high real inter- Times]
est rates, suggest that monetary conditions
industrial accident /ndstriəl
industrial accident
are extremely tight’ [Economist] |
ksd(ə)nt/ noun an accident which

indirect /ndarekt/ adjective not di-
indirect
takes place at work

|
rect
industrial arbitration tribunal /n
industrial arbitration tribunal
indirect costs /ndarekt kɒsts/, in-

indirect costs
|
direct expenses /ndarekt k dstriəl ɑbtreʃ(ə)n trabjun(ə)l/

| |
noun a court which decides in industrial

|
spensz/ plural noun costs which are not

directly related to the making of a product disputes
industrial capacity /ndstriəl kə
industrial capacity
(such as cleaning, rent or administration) | |
indirect labour costs /ndarekt

indirect labour costs
psti/ noun the amount of work which
lebə kɒsts/ plural noun the cost of can be done in a factory or several facto-
paying employees not directly involved in ries
industrial centre /ndstriəl sentə/
industrial centre
making a product such as cleaners or can- |
teen staff. Such costs cannot be allocated noun a large town with many industries
to a cost centre. industrial consumption
industrial consumption /n |
indirect loss /ndarekt lɒs/ noun dstriəl kənsmpʃən/ noun consump-

indirect loss
same as consequential loss tion of something by an industry

indirect tax /ndarekt tks/ noun a industrial court /ndstriəl kɔt/
indirect tax industrial court
tax such as VAT paid to someone who noun a court which can decide in industri-
then pays it to the government al disputes if both parties agree to ask it to
indirect taxation /ndarekt tk
indirect taxation
|
judge between them
seʃ(ə)n/ noun taxes which are not paid industrial design /ndstriəl d
industrial design
| |
direct to the government, e.g. sales tax 쑗 zan/ noun the design of products made
The government raises more money by in- by machines such as cars and refrigera-
direct taxation than by direct. tors
205 inferior
industrial development / ndstriəl training /ndstriəl
industrial development industrial training
| industrial |
dveləpmənt/ noun the planning and

| trenŋ/ noun the training of new em-
building of new industries in special areas ployees to work in an industry
industrial dispute /ndstriəl d industrial tribunal /ndstriəl tra
industrial dispute industrial tribunal
| | | |
spjut/ noun an argument between man- bjun(ə)l/ noun a court which can de-
agement and employees cide in disputes about employment
industrial espionage /ndstriəl
industrial espionage
| ‘ACAS has a legal obligation to try and

espiənɑ$/ noun the practice of trying to solve industrial grievances before they
find out the secrets of a competitor’s work reach industrial tribunals’ [Personnel To-
or products, usually by illegal means day]
industrial estate /ndstriəl stet/ industry /ndəstri/ noun 1. all facto-
industry
industrial estate
| |
noun an area of land near a town specially ries, companies or processes involved in
for factories and warehouses the manufacturing of products 쑗 All sec-
industrial expansion /ndstriəl k
industrial expansion
| |
tors of industry have shown rises in out-
spnʃən/ noun the growth of industries put. 2. a group of companies making the
in a country or a region same type of product or offering the same
type of service 쑗 the aircraft industry 쑗
industrial injury /ndstriəl
industrial injury
|
the food-processing industry 쑗 the petro-
nd$əri/ noun an injury to an employee leum industry 쑗 the advertising industry
that occurs in the workplace
‘…with the present overcapacity in the air-
industrialisation /ndstriəla
industrialisation
| |
line industry, discounting of tickets is
zeʃ(ə)n/, industrialization noun the widespread’ [Business Traveller]
process of change by which an economy industry rules /ndəstri rulz/ plural
industry rules
becomes based on industrial production noun the unwritten rules that govern the
rather than on agriculture ways in which organisations within a par-
industrialise /ndstriəlaz/, indus-
industrialise
| |
ticular industry relate to and do business
trialize verb to set up industries in a with one another
country which had none before inefficiency /nfʃ(ə)nsi/ noun the
inefficiency
‘…central bank and finance ministry offi- fact of not being able to work quickly and
cials of the industrialized countries will correctly 쑗 The report criticised the inef-
continue work on the report’ [Wall ficiency of the sales staff.
Street Journal]
inefficient /nfʃ(ə)nt/ adjective not
inefficient
industrialised society /n

industrialised society
|
|
dstriəlazd səsaəti/ noun a country doing a job well or unable to work effi-
ciently and correctly 쑗 an inefficient sales
|
which has many industries

director 쑗 Inefficient workers waste raw
industrialist /ndstriəlst/ noun an
industrialist
|
materials and fail to complete tasks on
owner or director of a factory schedule.
industrial practices / ndstriəl
industrial practices
ineligible / neld$b(ə)l/ adjective not

ineligible
|
prktsz/ plural noun ways of manag-

|
eligible
ing or working in business, industry or
ineligible bill /neld$əb(ə)l bl/
ineligible bill
trade (NOTE: also called trade practic- |
es) noun a bill of exchange which cannot be

discounted by a central bank
industrial processes /ndstriəl
industrial processes
inertia selling /n&ʃə selŋ/ noun a

| inertia selling
prəυsesz/ plural noun the various stag- |
es involved in manufacturing products in method of selling items by sending them

factories when they have not been ordered and as-
suming that if the items are not returned,
industrial relations /ndstriəl r
industrial relations
| |
the person who has received them is will-

leʃ(ə)nz/ plural noun relations between ing to buy them
management and employees 쑗 The com-
inexpensive /nkspensv/ adjective
inexpensive
pany has a history of bad labour rela- |
tions. cheap, not expensive

inexpensively /nkspensvli/ ad-
inexpensively
‘Britain’s industrial relations climate is |
changing’ [Personnel Today] verb without spending much money

industrials /ndstriəlz/ plural noun inferior /nfəriə/ adjective not as good
industrials inferior
| |
shares in manufacturing companies as others 쑗 products of inferior quality

inflate 206
inflate /nflet/ verb 1. 왍 to inflate into the country capital which is coming
inflate
prices to increase prices without any rea- into a country in order to be invested
son 2. 왍 to inflate the economy to make ‘…the dollar is strong because of capital
the economy more active by increasing inflows rather than weak because of the
the money supply trade deficit’ [Duns Business Month]
influence /nfluəns/ noun an effect
influence
inflated /nfletd/ adjective 1. 왍 in-

inflated
flated prices prices which are increased which is had on someone or something 쑗
without any reason 쑗 Tourists don’t want The price of oil has a marked influence on
to pay inflated London prices. 2. 왍 inflat- the price of manufactured goods. 쑗 We
ed currency currency which is too high are suffering from the influence of a high
in relation to other currencies exchange rate. 쐽 verb to have an effect on
someone or something 쑗 The board was
inflation /nfleʃ(ə)n/ noun a greater
inflation
|
influenced in its decision by the memo
increase in the supply of money or credit from the managers. 쑗 The price of oil has
than in the production of goods and serv- influenced the price of manufactured
ices, resulting in higher prices and a fall in goods. 쑗 High inflation is influencing our
the purchasing power of money 쑗 to take profitability.
measures to reduce inflation 쑗 High in- influx /nflks/ noun an inflow, espe-
influx
terest rates tend to increase inflation. 왍 cially one where people or things come in
we have 3% inflation or inflation is in large quantities 쑗 an influx of foreign
running at 3% prices are 3% higher than currency into the country 쑗 an influx of
at the same time last year cheap labour into the cities
COMMENT: The inflation rate in the UK is
‘…the retail sector will also benefit from
calculated on a series of figures, includ-
ing prices of consumer items; petrol, gas the expected influx of tourists’ [Australian
and electricity; interest rates, etc. This Financial Review]
infomediary /nfəυmidiəri/ noun a
infomediary
gives the ‘underlying’ inflation rate which |
can be compared to that of other coun- business or website that collects informa-
tries. The calculation can also include tion about customers for use by other
mortgage interest and local taxes which companies (NOTE: The plural is infome-
give the ‘headline’ inflation figure; this is
higher than in other countries because of diaries.)
inform /nfɔm/ verb to tell someone
inform
these extra items. Inflation affects busi- |
nesses, in that as their costs rise, so officially 쑗 I regret to inform you that
their profits may fall and it is necessary your tender was not acceptable. 쑗 We are
to take this into account when pricing pleased to inform you that you have been
products.
selected for interview. 쑗 We have been in-
inflationary /nfleʃ(ə)n(ə)ri/ adjec-
inflationary
|
formed by the Department that new regu-
tive tending to increase inflation 쑗 infla- lations are coming into force.
tionary trends in the economy 왍 the econ- information /nfəmeʃ(ə)n/ noun de-
information
omy is in an inflationary spiral the tails which explain something 쑗 to dis-

economy is in a situation where price ris- close a piece of information 쑗 to answer
es encourage higher wage demands which a request for information 쑗 Please send
in turn make prices rise me information on or about holidays in
‘…inflationary expectations fell some- the USA. 쑗 Have you any information on
what this month, but remained a long way or about deposit accounts? 쑗 I enclose
above the actual inflation rate, according this leaflet for your information. 쑗 For
to figures released yesterday. The annual further information, please write to De-
rate of inflation measured by the consumer partment 27. 왍 disclosure of confidential
price index has been below 2 per cent for information the act of telling someone
over 18 months’ [Australian Financial
Review] information which should be secret
information and communications
information and communications technologies
inflation-proof /nfleʃ(ə)n pruf/

inflation-proof
|
technologies /nfəmeʃ(ə)n ən kə | |
adjective referring to a pension, etc. mjunkeʃ(ə)nz teknɒləd$iz/ plural

| |
which is index-linked, so that its value is noun computer and telecommunications

preserved in times of inflation technologies considered together. The
inflow /nfləυ/ noun the act of coming
inflow
coming together of information and com-

in or being brought in 왍 inflow of capital munications technology convergence has
207 initial
given rise to such as the Internet, video- infringement /nfrnd$mənt/ noun
infringement
conferencing, intranets, and third-genera- an act of breaking a law or a rule 쑗 in-

tion mobile phones. (NOTE: It is the com- fringement of the company’s rules
ing together of information and commu- infringement of copyright /n
infringement of copyright
nications technology that has possible frnd$mənt əv kɒprat/ noun the ille-
made such things as the Internet, video- gal copying of a work which is in copy-
conferencing, groupware, intranets, and right
third-generation mobile phones.)
infringement of patent /n
infringement of patent
information architecture /nfə

information architecture
|
frnd$mənt əv petənt/ noun an act of
meʃ(ə)n ɑktektʃə/ noun the meth- illegally using, making or selling an in-
ods used in designing the navigation, vention which is patented, without the
search and content layout for a website permission of the patent holder
information bureau /nfəmeʃ(ə)n ingot /ŋ!ət/ noun a bar of gold or sil-
information bureau
ingot
bjυərəυ/ noun an office which gives in- ver

formation to tourists or visitors inherent vice /nhərənt vas/ noun
inherent vice
information office /nfəmeʃ(ə)n

information office
| the tendency of some goods to spoil dur-

ɒfs/ noun an office which gives infor- ing transportation 쑗 Inherent vice dis-
mation to tourists or visitors couraged us from importing tropical fruit.
information officer /nfəmeʃ(ə)n inherit /nhert/ verb to get something
information officer inherit
| |
ɒfsə/ noun 1. a person whose job is to from a person who has died 쑗 When her
give information about a company, an or- father died she inherited the shop. 쑗 He
ganisation or a government department to inherited £10,000 from his grandfather.
the public 2. a person whose job is to give inheritance /nhert(ə)ns/ noun prop-
inheritance
information to other departments in the erty which is received from a dead person
same organisation inheritance tax /nhert(ə)ns tks/
inheritance tax
|
information overload
information overload noun tax payable on wealth or property

/nfəmeʃ(ə)n əυvələυd/ noun the act worth above a certain amount and inherit-
of burdening someone with too much ined after the death of someone. The current
formation threshold is £250,000, and the estate is li-
information pack /nfəmeʃ(ə)n
information pack
|
able for 40% tax on the excess amount.
pk/ noun a folder containing informa- Abbreviation IHT (NOTE: The US term is
tion about a product, tourist attraction, death duty.)
in-house /n haυs/ adverb, adjective
in-house
etc. 쑗 the conference agenda or the agen-

da of the conference is in the information done by someone employed by a compa-
pack given to delegates ny on their premises, not by an outside
information retrieval /nfəmeʃ(ə)n
information retrieval
contractor 쑗 the in-house staff 쑗 We do all
rtriv(ə)l/ noun the finding of stored
|
our data processing in-house.
in-house training /n haυs trenŋ/
in-house training
data in a computer
information technology
noun training given to employees at their
information technology place of work
/nfəmeʃ(ə)n teknɒləd$i/ noun work-
initial / nʃ(ə)l/ adjective first or start-
| initial
ing with data stored on computers (IT). |
Abbreviation IT ing 쑗 The initial response to the TV ad-

vertising has been very good. 쐽 verb to
infrastructure /nfrəstrktʃə/ noun
infrastructure
|
write your initials on a document to show
1. basic structure. Also called social you have read it and approved 쑗 to initial
overhead capital 2. basic services 왍 a an amendment to a contract 쑗 Please in-
country’s infrastructure the road and itial the agreement at the place marked
rail systems of a country with an X.
infringe /nfrnd$/ verb to break a law
infringe
|
‘…the founding group has subscribed NKr
or a right 왍 to infringe a copyright to 14.5m of the initial NKr 30m share capi-
copy a copyright text illegally 왍 to in- tal’ [Financial Times]
fringe a patent to make a product which ‘…career prospects are excellent for
works in the same way as a patented prod- someone with potential, and initial salary
uct and not pay a royalty to the patent is negotiable around $45,000 per annum’
holder [Australian Financial Review]
initial capital 208

initial capital /nʃ(ə)l kpt(ə)l/ inland /nlənd/ adjective inside a coun-
initial capital inland
noun capital which is used to start a busi- try

ness inland carrier /nlənd kriə/ noun
inland carrier
initial public offering /nʃ(ə)l US company which transports goods

initial public offering
pblk ɒf(ə)rŋ/ noun US the process from a port to a destination inside the
of offering new shares in a corporation for country
sale to the public as a way of launching inland freight charges /nlənd
inland freight charges
the corporation on the Stock Exchange. fret tʃɑd$z/ plural noun charges for
Abbreviation IPO (NOTE: The UK term is carrying goods from one part of the coun-
offer for sale.) try to another
initials /nʃ(ə)lz/ plural noun a first inland port /nlənd pɔt/ noun a port
initials inland port
letters of the words in a name 쑗 What do on a river or canal

the initials IMF stand for? 쑗 The chair- inland postage /nlənd pəυstd$/
inland postage
man wrote his initials by each alteration noun postage for a letter to another part of
in the contract he was signing. the same country
initial sales /nʃ(ə)l selz/ plural Inland Revenue /nlənd revənju/
initial sales
Inland Revenue
noun the first sales of a new product noun a British government department
initial yield /nʃ(ə)l jild/ noun the dealing with taxes such as income tax,
initial yield
estimated yield of an investment fund at corporation tax, capital gains tax, inherit-
the time when it is launched ance tax, etc., but not duties, such as VAT,
initiate /nʃiet/ verb to start 쑗 to ini-
initiate
|
which are collected by the Customs and
tiate discussions Excise 쑗 He received a letter from the In-
land Revenue. (NOTE: The US term is In-
initiative /nʃətv/ noun the decision
initiative
ternal Revenue Service or IRS.)

|
to start something 왍 to take the initiative

innovate /nəυvet/ verb to bring in
innovate
to decide to do something
new ideas or new methods
inject /nd$ekt/ verb 왍 to inject capi-
inject
innovation /nəveʃ(ə)n/ noun the

| innovation
tal into a business to put money into a |
business development of new products or new

ways of selling
injection /nd$ekʃən/ noun 왍 a capi-
injection
innovative /nəvetv/ adjective re-

| innovative
tal injection of £100,000 or an injection

of £100,000 capital putting £100,000 ferring to a person or thing which is new
into an existing business and makes changes
‘…small innovative companies in IT have
injunction /nd$ŋkʃən/ noun a court
injunction
|
been hampered for lack of funds’
order telling someone not to do some- [Sunday Times]
thing 쑗 He got an injunction preventing innovator /nəvetə/ noun 1. a person
innovator
the company from selling his car. 쑗 The or company that brings in new ideas and
company applied for an injunction to stop methods 2. a person who buys a new
their rival from marketing a similar prod- product first
uct.
input /npυt/ noun what is contributed
input
injure /nd$ə/ verb to hurt someone 쑗

injure
to an activity or project 쑗 The amount of

Two workers were injured in the fire. staff input in the company magazine is
injured party /nd$əd pɑti/ noun a small. 왍 input of information, computer
injured party
party in a court case which has been input data fed into a computer 쐽 verb 왍
harmed by another party to input information to put data into a
injury /nd$əri/ noun hurt caused to a computer
injury
person input lead /npυt lid/ noun a lead for

input lead
injury benefit /nd$əri benft/ noun connecting the electric current to a ma-
injury benefit
money paid to an employee who has been chine

hurt at work inputs /npυts/ plural noun goods or
inputs
inkjet printer /ŋkd$et prntə/ noun services bought by a company and which
inkjet printer
a printer which prints by sending a jet of may be liable to VAT

input tax /npυt tks/ noun VAT
input tax
ink onto the paper to form the characters

(they give very good results, but cannot be which is paid by a company on goods or
used for multipart stationery) services bought
209 inspector of taxes

inquire /nkwaə/ verb to ask ques- insider buying /nsadə dilŋ/, in-
inquire insider buying
| |
tions about something 쑗 He inquired if sider dealing /nsadə tredŋ/ noun |
anything was wrong. 쑗 She inquired the illegal buying or selling of shares by
about the mortgage rate. 왍 ‘inquire with- staff of a company or other persons who
in’ ask for more details inside the office have secret information about the compa-
or shop ny’s plans
inquire into phrasal verb to investigate inside worker /nsad w&kə/ noun
inside worker
or try to find out about something 쑗 We an employee who works in an office or

are inquiring into the background of the factory
new supplier. insolvency /nsɒlvənsi/ noun the fact
insolvency
inquiry /nkwaəri/ noun a request for

inquiry
| of not being able to pay debts. Opposite

information about a product solvency 왍 he was in a state of insol-
inquiry office /nkwaəri ɒfs/ noun vency he could not pay his debts
inquiry office
an office which members of the public ‘…hundreds of thrifts found themselves

can go to to have their questions answered on the brink of insolvency after a deregu-
inquorate /nkwɔret/ adjective
inquorate
|
lation programme prompted them to enter
without a quorum dangerous financial waters’ [Times]
insolvent /nsɒlvənt/ adjective not
insolvent
COMMENT: If there is a quorum at a meet- |
ing, the meeting is said to be ‘quorate’; if able to pay debts 쑗 The company was de-
there aren’t enough people present to clared insolvent. (NOTE: see note at in-
make a quorum, the meeting is ‘insolvency) 왍 he was declared insolvent
quorate’. he was officially stated to be insolvent
insert noun /ns&t/ a form or leaflet
insert
COMMENT: A company is insolvent when

which is put inside something, usually a its liabilities are higher than its assets; if
magazine or newspaper 왍 an insert in a this happens it must cease trading.
inspect /nspekt/ verb to examine in
inspect
magazine mailing, a magazine insert an |
advertising sheet put into a magazine detail 쑗 to inspect a machine or an instal-

when it is mailed 쐽 verb /ns&t/ to put | lation 쑗 The gas board is sending an en-
something in 쑗 to insert a clause into a gineer to inspect the central heating sys-
contract 쑗 to insert a publicity piece into tem. 쑗 Officials from the DTI have come
a magazine mailing to inspect the accounts. 왍 to inspect
in-service training /n s&vs products for defects to look at products
in-service training
trenŋ/ noun the training of staff while in detail to see if they have any defects
they are employed by an organisation 쑗 inspection /nspekʃən/ noun the
inspection
Management trainees will draw full sala- close examination of something 쑗 to

ries during the period of their in-service make an inspection or to carry out an in-
training. Abbreviation INSET spection of a machine or an installation 쑗
inside /nsad/ adjective, adverb in,
inside
|
the inspection of a product for defects 왍
especially in a company’s office or build- to issue an inspection order to order an
ing 쑗 We do all our design work inside. 쐽 official inspection
inspection stamp /nspekʃən
inspection stamp
preposition in 쑗 There was nothing inside |
the container. 쑗 We have a contact inside stmp/ noun a stamp placed on some-
our rival’s production department who thing to show it has been inspected
gives us very useful information. inspector /nspektə/ noun an official
inspector
inside director /nsad darektə/ who inspects 쑗 The inspectors will soon
inside director
noun a director who works full-time in a be round to make sure the building is safe.
corporation, as opposed to an outside di- inspectorate /nspekt(ə)rət/ noun
inspectorate
rector all inspectors

inside information /nsad nfə inspector of factories /nspektər
inside information inspector of factories
| |
meʃ(ə)n/ noun information which is əv fkt(ə)riz/ noun a government offi-

passed from people working in a compa- cial who inspects factories to see if they
ny to people outside, and which can be are safely run
valuable to investors in the company inspector of taxes /nspektər əv
inspector of taxes
insider /nsadə/ noun a person who tksz/ noun in the United Kingdom, an
insider
works in an organisation and therefore official who reports to the Board of Inland
knows its secrets Revenue and is responsible for issuing tax
inst 210
returns and assessments, agreeing tax lia- ment of £25 and the rest in payments of
bilities, and conducting appeals on mat- £20 each month 왍 to miss an instalment
ters of tax not to pay an instalment at the right time
instance /nstəns/ noun a particular
inst instance
inspector of weights and meas-

ures /nspektər əv wets ən me$əz/
| example or case 쑗 In this instance we will
noun a government official who inspects overlook the delay.
weighing machines and goods sold in instant /nstənt/ adjective 1. immedi-
instant
shops to see if the quantities and weights ately available 쑗 Instant credit is availa-
are correct ble to current account holders. 2. this
inst abbr instant 왍 your letter of the 6th month 왍 our letter of the 6th instant our
inst
inst your letter of the 6th of this month letter of the 6th of this current month
instability /nstəblti/ noun the state instant access account /nstənt
instability instant access account
of being unstable or moving up and down kses əkaυnt/ noun a deposit account
|
왍 a period of instability in the money which pays interest and from which you
markets a period when currencies fluctu- can withdraw money immediately with-
ate rapidly out penalty
install /nstɔl/ verb 1. to put a machine institute /nsttjut/ noun a society or
institute
install
into an office or into a factory 쑗 We are organisation which represents a particular

planning to install the new machinery profession or activity 쑗 the Institute of
over the weekend. 쑗 They must install a Chartered Accountants 쑗 the Chartered
new data processing system because the Institute of Personnel and Development 쐽
old one cannot cope with the mass of verb 1. to start a new custom or procedure
work involved. 2. to set up a piece of ma- 쑗 to institute a new staff payment scheme
chinery or equipment, e.g. a new compu- 2. to start 쑗 to institute proceedings
ter system, so that it can be used 3. to con- against someone
institution /nsttjuʃ(ə)n/ noun an
institution
figure a new computer program to the ex- |
isting system requirements organisation or society set up for a partic-

installation /nstəleʃ(ə)n/ noun 1.
installation
|
ular purpose. 쒁 financial institution
institutional /nsttjuʃ(ə)n(ə)l/ ad-
institutional
the act of putting new machines into an |
office or a factory 쑗 to supervise the in- jective referring to an institution, espe-

stallation of new equipment 2. machines, cially a financial institution
equipment and buildings 쑗 Harbour in- ‘…during the 1970s commercial property
stallations were picketed by striking dock- was regarded by big institutional investors
ers. 쑗 The fire seriously damaged the oil as an alternative to equities’ [Investors
installations. 3. the act of setting up a Chronicle]
piece of equipment institutional
institutional buying
buying
installment /nstɔlmənt/ noun US /nsttjuʃ(ə)n(ə)l baŋ/ noun the
installment
spelling of instalment buying of shares by financial institutions

plan /nstɔlmənt institutional buyout
institutional buyout
installment plan
installment |
pln/, installment sales /nstɔlmənt |

/nsttjuʃ(ə)n(ə)l baaυt/ noun a take-
selz/, installment buying /n |
over of a company by a financial institu-
stɔlmənt baŋ/ noun US a system of tion, which backs a group of managers
buying something by paying a sum regu- who will run it. Abbreviation IBO
larly each month 쑗 to buy a car on the in- institutional investor
institutional investor
stallment plan (NOTE: The UK term is /nsttjuʃ(ə)n(ə)l nvestə/ noun 1. a |
hire purchase.) financial institution which invests money

instalment / nstɔlmənt/ noun a part in securities 2. an organisation (such as a
instalment
of a payment which is paid regularly until pension fund or insurance company) with
the total amount is paid 쑗 The first instal- large sums of money to invest
instruct /nstrkt/ verb 1. to give an
instruct
ment is payable on signature of the agree- |
ment. (NOTE: The US spelling is install- order to someone 왍 to instruct someone

ment.) 왍 the final instalment is now due to do something to tell someone official-
the last of a series of payments should be ly to do something 쑗 He instructed the
paid now 왍 to pay £25 down and month- credit controller to take action. 쑗 The
ly instalments of £20 to pay a first pay- foreman will instruct the men to stop
211 integration
working. 2. 왍 to instruct a solicitor to insurance company /nʃυərəns
insurance company
give information to a solicitor and to ask kmp(ə)ni/ noun a company whose

him to start legal proceedings on your be- business is insurance
half insurance contract /nʃυərəns
insurance contract
instruction /nstrkʃən/ noun an or- kɒntrkt/ noun an agreement by an in-

instruction
der which tells what should be done or surance company to insure

how something is to be used 쑗 She gave insurance cover /nʃυərəns kvə/
insurance cover
instructions to his stockbroker to sell the noun protection guaranteed by an insur-

shares immediately. 왍 to await instruc- ance policy 쑗 Do you have cover against
tions to wait for someone to tell you what theft?
to do 왍 to issue instructions to tell peo- insurance policy /nʃυərəns pɒlsi/
insurance policy
ple what to do 왍 in accordance with, ac-

|
noun a document which shows the condi-

cording to instructions as the instructions of an insurance contract
tions show insurance premium /nʃυərəns
insurance premium
instructor /nstrktə/ noun a person

|
instructor
|
primiəm/ noun an annual payment
who shows how something is to be done made by a person or a company to an in-
쑗 Two new instructors are needed for the surance company
training courses. 쑗 Distance learning can insurance rates /nʃυərəns rets/
insurance rates
be carried out without instructors. plural noun the amount of premium

instrument /nstrυmənt/ noun 1. a
instrument
which has to be paid per £1000 of insur-

tool or piece of equipment 쑗 The techni- ance
cian brought instruments to measure the insurance salesman /nʃυərəns
insurance salesman
output of electricity. 2. a legal document selzmən/ noun a person who encourag-

insufficient funds /nsəfʃ(ə)nt
insufficient funds
es clients to take out insurance policies

fndz/ noun US same as non-suffi- insure / nʃυə/ verb to have a contract
insure
cient funds with a company whereby, if regular small

insurable /nʃυərəb(ə)l/ adjective
insurable
| payments are made, the company will pay

possible to insure compensation for loss, damage, injury or
insurance /nʃυərəns/ noun an agree-
insurance
|
death 쑗 to insure a house against fire 쑗 to
ment that in return for regular payments insure someone’s life 쑗 to insure baggage
called ‘premiums’, a company will pay against loss 쑗 to insure against loss of
compensation for loss, damage, injury or earnings 쑗 She was insured for £100,000.
death 쑗 to take out insurance 쑗 Repairs 왍 the sum insured the largest amount of
will be paid for by the insurance. 왍 to money that an insurer will pay under an
take out an insurance against fire to pay insurance
insurer / nʃυərə/ noun a company
insurer
a premium, so that, if a fire happens, com- |
pensation will be paid 왍 to take out an which insures (NOTE: For life insurance,
insurance on the house to pay a premi- UK English prefers to use assurer.)
um, so that, if the house is damaged, com- intangible /ntnd$b(ə)l/ adjective
intangible
pensation will be paid 왍 the damage is not possible to touch

covered by the insurance the insurance intangible assets /ntnd$b(ə)l
intangible assets
company will pay for the damage 왍 to

|
sets/, intangibles /ntnd$b(ə)lz/ |
pay the insurance on a car to pay premi- plural noun assets which have a value, but
ums to insure a car which cannot be seen, e.g. goodwill, or a
insurance agent /nʃυərəns
insurance agent
| patent or a trademark
ed$ənt/, insurance broker /n |
intangible fixed
intangible fixed assets
assets /n |
ʃυərəns brəυkə/ noun a person who ar- tnd$b(ə)l fkst sets/ plural noun
ranges insurance for clients assets which have a value, but which can-
insurance certificate /nʃυərəns sə not be seen, e.g. goodwill, copyrights,
insurance certificate
| |
tfkət/ noun a document from an insur- patents or trademarks

ance company showing that an insurance integrate /nt!ret/ verb to link
integrate
policy has been issued things together to form one whole group
insurance claim /nʃυərəns klem/ integration /nt!reʃ(ə)n/ noun the
insurance claim integration
| |
noun a request to an insurance company act of bringing several businesses togeth-

to pay compensation for damage or loss er under a central control
intellectual assets 212

COMMENT: In a case of horizontal integra- calculated as a percentage of the capital
tion, a large supermarket might take over borrowed 왍 high interest, low interest
another smaller supermarket chain; on interest at a high or low percentage 3.
the other hand, if a supermarket takes
over a food packaging company the inte- money paid as income on investments or
gration would be vertical. loans 쑗 to receive interest at 5% 쑗 the
intellectual assets /ntlektʃuəl
intellectual assets
|
loan pays 5% interest 쑗 deposit which
sets/ plural noun the knowledge, expe- yields or gives or produces or bears 5%
rience, and skills possessed by its em- interest 쑗 account which earns interest at
ployees that an organisation can use for 10% or which earns 10% interest 쑗 The
its own benefit bank pays 10% interest on deposits. 4. a
part of the ownership of something, e.g. if
intellectual property /ntlektjυəl
intellectual property
you invest money in a company you ac-

prɒpəti/ noun ideas, designs and inven-
quire a financial share or interest in it 왍 to
tions, including copyrights, patents and acquire a substantial interest in the
trademarks, that were created by and le-
company to buy a large number of shares
gally belong to an individual or an organ- in a company 왍 to declare an interest to
isation (NOTE: Intellectual property is state in public that you own shares in a
protected by law in most countries, and
company being discussed or that you are
the World Intellectual Property Organi-
related to someone who can benefit from
sation is responsible for harmonising the
your contacts 쐽 verb to attract someone’s
law in different countries and promoting
attention 쑗 She tried to interest several
the protection of intellectual property
companies in her new invention. 쑗 The
rights.)
company is trying to interest a wide range
intend /ntend/ verb to plan or to ex-
intend
|
of customers in its products. 왍 interested
pect to do something 쑗 The company in- in paying attention to 쑗 The managing di-
tends to open an office in New York next rector is interested only in increasing
year. 쑗 We intend to offer jobs to 250 un- profitability.
employed young people. interest-bearing deposits /ntrəst
interest-bearing deposits
intensive farming /ntensv

intensive farming
|
beərŋ dpɒzts/ plural noun deposits
fɑmŋ/ noun farming small areas of ex-
|
which produce interest

pensive land, using machines and fertiliz- interest charges /ntrəst tʃɑd$z/
interest charges
ers to obtain high crops plural noun money paid as interest on a

intent /ntent/ noun something that
intent
|
loan
someone plans to do interest coupon /ntrəst kupɒn/
interest coupon
inter- /ntə/ prefix between 왍 inter-

inter-
noun a slip of paper attached to a govern-

company dealings dealings between two ment bond certificate which can be
companies in the same group 왍 inter- cashed to provide the annual interest
company comparisons comparing the interested party /ntrestd pɑti/
interested party
results of one company with those of an- noun a person or company with a finan-
other in the same product area
cial interest in a company
interactive /ntərktv/ adjective 1.
interactive
interest-free credit /ntrəst fri

| interest-free credit
allowing the customer and seller to influ-

kredt/ noun a credit or loan where no
ence the presentation of information or interest is paid by the borrower 쑗 The
the development of strategies 2. referring company gives its staff interest-free loans.
to an online service, software program or
interest rate /ntrəst ret/ noun a fig-
interest rate
television system that allows users to send

information or instructions to it ure which shows the percentage of the
capital sum borrowed or deposited which
inter-bank loan /ntə bŋk ləυn/
inter-bank loan
is to be paid as interest. Also called rate

noun a loan from one bank to another of interest
inter-city /ntə sti/ adjective be-
inter-city
‘…since last summer American interest

tween cities 쑗 Inter-city train services are rates have dropped by between three and
often quicker than going by air. four percentage points’ [Sunday Times]
interest /ntrəst/ noun 1. special atten-
interest
‘…a lot of money is said to be tied up in

tion 쑗 The buyers showed a lot of interest sterling because of the interest-rate differ-
in our new product range. 2. payment ential between US and British rates’
made by a borrower for the use of money, [Australian Financial Review]
213 internal telephone

interface /ntəfes/ noun 1. the link side the company 2. inside a country or a
interface
between two different computer systems region

or pieces of hardware 2. a point where internal audit /nt&n(ə)l ɔdt/
internal audit
two groups of people come into contact 쐽 noun an audit carried out by a department
verb to meet and act with 쑗 The office inside the company
PCs interface with the computer at head
internal audit department /n
internal audit department
office. |
t&n(ə)l ɔdt dpɑtmənt/ noun a de-

interfere /ntəfə/ verb to get involved
interfere |
|
partment of a company which examines
in or try to change something which is not the internal accounting controls of that
your concern company
interference /ntəfərəns/ noun the
interference
internal auditor /nt&n(ə)l ɔdtə/

internal auditor
|
act of interfering 쑗 The sales department

|
noun a member of staff who audits a com-

complained of continual interference pany’s accounts
from the accounts department. internal differentiation analysis
interfirm co-operation /ntəf&m

interfirm co-operation
internal differentiation analysis
kəυ ɒpəreʃ(ə)n/ noun co-operation be- /nt&n(ə)l
| dfərenʃieʃ(ə)n ə | |
tween business organisations to enable nləss/ noun analysis of the processes

them to achieve common goals more effi- involved in the value chain in order to find
ciently. Interfirm co-operation usually out which of them make the product dif-
takes the form of a joint venture, strategic ferent as far as customers are concerned
alliance or strategic partnering arrange- and so increase its value. By using inter-
ment. nal differentiation analysis an organisa-
tion can focus on improving the most im-
interim /ntərm/ adjective made,
interim
portant aspects of the value-creation proc-

measured or happening in the middle of a ess to maximise its competitive
period, such as the financial year, and be-
advantage.
fore the final result for the period is avail-
internal flight /nt&n(ə)l flat/ noun
internal flight
able 쐽 noun a statement of interim profits |
or dividends 왍 in the interim meanwhile, a flight to a town inside the same country
for the time being internal growth /nt&n(ə)l !rəυθ/
internal growth
‘…the company plans to keep its annual noun the development of a company by
dividend unchanged at 7.5 per share, growing its existing business with its own
which includes a 3.75 interim payout’ finances, as opposed to acquiring other
[Financial Times] businesses. Also called organic growth.
interim dividend /ntərm dv
interim dividend
| Opposite external growth

dend/ noun a dividend paid at the end of internalisation
internalisation /nt&nəla | |
a half-year zeʃ(ə)n/, internalization noun a proc-

interim payment /ntərm
interim payment
ess by which individuals identify infor-

pemənt/ noun a payment of part of a mation which is relevant to them person-
dividend ally and so acquire values and norms
interim report /ntərm rpɔt/, in-
interim report
| which allow them to make decisions

terim statement /ntərm stetmənt/ internally /nt&n(ə)l/ adverb inside a
internally
noun a report given at the end of a half- company 쑗 The job was advertised inter-
year nally. 왍 the job was advertised internal-
intermediary /ntəmidiəri/ noun a
intermediary
|
ly the job was advertised inside the com-
person who is the link between people or pany, but not in a public place such as a
organisations who do not agree or who newspaper
are negotiating 쑗 He refused to act as an Internal Revenue Service /n
Internal Revenue Service
intermediary between the two directors. t&n(ə)l revənju s&vs/ noun US in

COMMENT: Banks, building societies and
hire purchase companies are all types of the United States, the branch of the feder-
financial intermediaries. al government charged with collecting the
internal /nt&n(ə)l/ adjective 1. inside
internal
|
majority of federal taxes. Abbreviation
a company 왍 we decided to make an in- IRS
telephone /nt&n(ə)l
internal telephone
ternal appointment we decided to ap- internal |
point an existing member of staff to the telfəυn/ noun a telephone which is

post, and not bring someone in from out- linked to other telephones in an office
internal trade 214

internal trade /nt&n(ə)l tred/
internal trade
| kupɒn/ noun a coupon which can be

noun trade between various parts of a used in another country to pay the postage
country. Opposite external trade of replying to a letter 쑗 He enclosed an
international /ntənʃ(ə)nəl/ adjec- international reply coupon with his letter.
international
/ntə
international reserves
tive working between countries international reserves |
international call /ntənʃ(ə)nəl

international call
nʃ(ə)nəl rz&vs/ plural noun same as

|
kɔl/ noun a telephone call to another foreign currency reserves

country international trade /ntənʃ(ə)nəl
international trade
international (dialling) code tred/ noun trade between different

international code
/ntənʃ(ə)nəl daəlŋ kəυd/ noun the countries

part of a telephone number used for dial- Internet /ntənet/ noun an internation-
Internet
ling to another country al network linking thousands of comput-

international direct dialling /ntə
international direct dialling
|
ers using telephone links 쑗 Much of our
nʃ(ə)nəl darekt daəlŋ kəυd/ |
business is done on the Internet. 쑗 Inter-
noun a system by which you can tele- net sales form an important part of our
phone direct to a number in another coun- turnover. 쑗 He searched the Internet for
try without going through the operator. information on cheap tickets to the USA.
Abbreviation IDD ‘…they predict a tenfold increase in sales
International Labour Organiza-
International Labour Organization
via internet or TV between 1999 and

tion /ntənʃ(ə)nəl lebər ɔ!əna | 2004’ [Investors Chronicle]
zeʃ(ə)n/ noun a section of the United ‘…in two significant decisions, the Secu-
Nations which tries to improve working rities and Exchange Board of India today
conditions and workers’ pay in member allowed trading of shares through the In-
countries. Abbreviation ILO ternet and set a deadline for companies to
international law /ntənʃ(ə)nəl conform to norms for good corporate gov-
international law
lɔ/ noun laws referring to the way coun- ernance’ [The Hindu]
/ntənet
Internet marketing
tries deal with each other Internet marketing

international
international lawyer
lawyer mɑktŋ/ noun the marketing of prod-

/ntənʃ(ə)nəl lɔjə/ noun a person ucts or services over the Internet
who specialises in international law security /ntənet s
Internet security
Internet |
international management /ntə kjυərti/ noun the means used to protect

international management
nʃ(ə)nəl mnd$mənt/ noun 1. the websites and other electronic files against
management of an organisation’s produc- attacks by hackers and viruses and to en-
tion or market interests in other countries sure that business can be safely conducted
by either local or expatriate staff 2. the over the Internet
management of a multinational business, Internet selling /ntənet selŋ/
Internet selling
made up of formerly independent organi- noun the act of selling of goods or servic-
sations 3. the particular type of skills, es over the Internet
knowledge and understanding needed by
interoperability /ntəɒpərəblti/
interoperability
managers who are in charge of operations | |
that involve people from different coun- noun the ability of products made by dif-
tries and cultures ferent manufacturers to work together ef-
ficiently
International Monetary Fund
International Monetary Fund
interpersonal skills
/ntənʃ(ə)nəl mnt(ə)ri fnd/ interpersonal skills

noun a type of bank which is part of the /ntəp&s(ə)n(ə)l sklz/ plural noun
United Nations and helps member states skills used when communicating with
in financial difficulties, gives financial other people, especially when negotiating
interpret / nt&prt/ verb to translate
interpret
advice to members and encourages world |
trade. Abbreviation IMF what someone has said into another lan-
international monetary system
international monetary system
guage 쑗 My assistant knows Greek, so he

/ntənʃ(ə)nəl mnt(ə)ri sstəm/ will interpret for us.
noun methods of controlling and ex- interpreter /nt&prtə/ noun a person
interpreter
changing currencies between countries who translates what someone has said
international (postal) reply cou- into another language 쑗 My secretary will
international reply coupon
pon /ntənʃ(ə)nəl pəυst(ə)l rpla

| | act as interpreter.
215 inventory
Interstate Commerce Commis- to the employees of a particular organisa-
Interstate Commerce Commission
sion /ntəstet kɒm&s kəmʃ(ə)n/ | tion

noun US a federal agency which regu- in transit /n trnzt/ adverb 왍 goods
in transit
lates business activity involving two or in transit goods being transported

more of the states in the US. Abbreviation in tray /n tre/ noun a basket on a desk
in tray
ICC for letters or memos which have been re-

intervene /ntəvin/ verb to try to
intervene
| ceived and are waiting to be dealt with

make a change in a situation in which you introduce /ntrədjus/ verb to make
introduce
have not been involved before 왍 to inter-

|
someone get to know somebody or some-

vene in a dispute to try to settle a dispute thing 왍 to introduce a client to bring in a
intervention /ntə venʃən/ noun 1.
intervention
| new client and make them known to

the act of becoming involved in a situa- someone 왍 to introduce a new product
tion in order to change it 쑗 the central on the market to produce a new product
bank’s intervention in the banking crisis and launch it on the market
쑗 the government’s intervention in the la- introduction /ntrədkʃən/ noun 1.
introduction
bour dispute 2. an action taken by an out- a letter making someone get to know an-
side agent to change the structure of a other person 쑗 I’ll give you an introduc-
large company tion to the MD – he is an old friend of
intervention price /ntəvenʃ(ə)n mine. 2. the act of bringing into use 왍 the
intervention price
pras/ noun a price at which the EU will introduction of new technology putting
buy farm produce which farmers cannot new machines (usually computers) into a
sell, in order to keep prices high business or industry
interview /ntəvju/ noun 1. a meeting introductory offer /ntrədkt(ə)ri
interview introductory offer
in order to talk to a person who is apply- ɒfə/ noun a special price offered on a
ing for a job to find out whether they are new product to attract customers
suitable for it 쑗 We called six people for invalid /nvld/ adjective not valid or
invalid
interview. 쑗 I have an interview next week not legal 쑗 This permit is invalid. 쑗 The
or I am going for an interview next week. claim has been declared invalid.
2. a meeting in order to ask a person ques- invalidate /nvldet/ verb to make
invalidate
tions as part of an opinion poll 쐽 verb to something invalid 쑗 Because the compa-
talk to a person applying for a job to see if ny has been taken over, the contract has
they are suitable 쑗 We interviewed ten been invalidated.
candidates, but found no one suitable.
invalidation /nvldeʃən/ noun the
invalidation
interviewee /ntəvjui/ noun the

interviewee | |
|
act of making invalid
person who is being interviewed 쑗 The invalidity /nvəldti/ noun the fact of
invalidity
interviewer did everything to put the in-

|
terviewee at ease. 쑗 The interviewees being invalid 쑗 the invalidity of the con-
tract
were all nervous as they waited to be
invent /nvent/ verb to make some-
invent
called into the interview room. |
thing which has never been made before

interviewer /ntəvjuə/ noun the per-
interviewer
쑗 She invented a new type of computer

son who is conducting an interview
terminal. 쑗 Who invented shorthand? 쑗
inter vivos /ntə vivəυs/ phrase a
inter vivos
The chief accountant has invented a new

Latin phrase, ‘between living people’ system of customer filing.
intestacy /ntestəsi/ noun the state of
intestacy
invention /nvenʃən/ noun 1. some-

invention
|
|
having died without having made a will thing which has been invented 쑗 He tried
intestate /ntestət/ adjective 왍 to die
intestate
|
to sell his latest invention to a US car
intestate to die without having made a manufacturer. 2. the creation of new
will products or processes which are then de-
COMMENT: When someone dies intes- veloped for commercial use through inno-
tate, the property automatically goes to vation
the parents or siblings of an unmarried
inventor /nventə/ noun a person who
inventor
person or, if married, to the surviving |
partner, unless there are children. invents something 쑗 He is the inventor of

intranet /ntrənet/ noun a network of the all-plastic car.
intranet
inventory /nvənt(ə)ri/ noun 1. espe-

inventory
computers and telephone links that uses

Internet technology but is accessible only cially US all the stock or goods in a ware-
inventory control 216

house or shop 쑗 to carry a high inventory value over a long or short period 왍 he is
쑗 to aim to reduce inventory (NOTE: The trying to protect his investments he is
UK term is stock.) 왍 to take inventory trying to make sure that the money he has
to count and record the quantity of each invested is not lost
item in a warehouse or shop 2. a list of the ‘…investment trusts, like unit trusts, con-
contents of a building such as a house for sist of portfolios of shares and therefore
sale or an office for rent 쑗 to draw up an provide a spread of investments’
inventory of fixtures and fittings 왍 to [Investors Chronicle]
agree the inventory to agree that the in- ‘…investment companies took the view
ventory is correct 쐽 verb to make a list of that prices had reached rock bottom and
stock or contents could only go up’ [Lloyd’s List]
investment adviser /nvestmənt əd
investment adviser
‘…a warehouse needs to tie up less capital | |
in inventory and with its huge volume vazə/ noun a person who advises peo-
spreads out costs over bigger sales’ ple on what investments to make
[Duns Business Month] investment company /nvestmənt
investment company
inventory control /nvənt(ə)ri kən kmp(ə)ni/ noun company whose

inventory control
trəυl/ noun especially US a system of shares can be bought on the Stock Ex-
checking that there is not too much stock change, and whose business is to make
in a warehouse, but just enough to meet money by buying and selling stocks and
requirements shares
invest /nvest/ verb 1. to put money investment grant /nvestmənt
invest
investment grant
|
|
into shares, bonds, a building society, etc., !rɑnt/ noun a government grant to a
hoping that it will produce interest and in- company to help it to invest in new ma-
crease in value 쑗 He invested all his mon- chinery
ey in unit trusts. 쑗 She was advised to in- investment income /nvestmənt
investment income
vest in real estate or in government bonds. nkm/ noun income from investments,
왍 to invest abroad to put money into e.g. interest and dividends. Compare
shares or bonds in overseas countries 2. to earned income
spend money on something which you
Investment Management Regula-
Investment Management Regulatory Organisation
believe will be useful 쑗 to invest money in

new machinery 쑗 to invest capital in a tory Organisation /nvestmənt |
new factory mnd$mənt re!jυlət(ə)ri

ɔ!ənazeʃ(ə)n/ noun a self-regulatory
‘…we have substantial venture capital to
invest in good projects’ [Times] organisation which regulates managers of
investment funds, such as pension funds,
investigate /nvest!et/ verb to ex-
investigate
|
now part of the FSA. Abbreviation IMRO
amine something which may be wrong 쑗
investment opportunities /n
investment opportunities
The Serious Fraud Office has been asked |
to investigate his share dealings. vestmənt ɒpətjunətiz/ noun possi- |
bilities for making investments or sales

investigation /nvest!eʃ(ə)n/
investigation
| |
which will be profitable
noun an examination to find out what is
investment trust /nvestmənt trst/
investment trust
wrong 쑗 They conducted an investigation |
into petty theft in the office. noun a company whose shares can be
bought on the Stock Exchange and whose
investigator /nvest!etə / noun a
investigator
|
business is to make money by buying and
person who investigates 쑗 government in- selling stocks and shares
vestigator
investor /nvestə/ noun a person who
investor
investment /nvestmənt/ noun 1. the

investment |
|
invests money
placing of money so that it will produce
invisible /nvzb(ə)l/ adjective not re-
invisible
interest and increase in value 쑗 They |
called for more government investment in corded or reflected in economic statistics

invisible assets /nvzb(ə)l sets/
invisible assets
new industries. 쑗 She was advised to |
make investments in oil companies. 2. a plural noun assets which have a value but
share, bond or piece of property bought in which cannot be seen, e.g. goodwill or
the hope that it will produce more money patents
than was used to buy it 왍 long-term in- invisible earnings /nvzb(ə)l
invisible earnings
vestment, short-term investment &nŋz/ plural noun foreign currency

shares, etc., which are likely to increase in earned by a country by providing servic-
217 irrevocable acceptance

es, receiving interests or dividends, but invoicing department /nvɔsŋ d
invoicing department
not by selling goods pɑtmənt/ noun the department in a

invisible exports /nvzəb(ə)l company which deals with preparing and
invisible exports
ekspɔts/ plural noun services such as sending invoices

banking, insurance or tourism which do inward /nwəd/ adjective towards the
inward
not involve selling a product and which home country

are provided to foreign customers and inward bill /nwəd bl/ noun a bill of
inward bill
paid for in foreign currency. Opposite lading for goods arriving in a country
visible exports inward investment /nwəd n
inward investment
invisible imports /nvzb(ə)l vestmənt/ noun an investment from

invisible imports
mpɔtz/ noun services such as banking, outside a country, as when a foreign com-
insurance or tourism which do not involve pany decides to set up a new factory there
selling a product and which are provided inward mission /nwəd mʃ(ə)n/
inward mission
by foreign companies and paid for in local noun a visit to your home country by a
currency. Opposite visible imports group of foreign businesspeople
invisibles /nvzb(ə)lz/ plural noun
invisibles
IOU /a əυ ju/ noun ‘I owe you’, a

IOU
|
invisible imports and exports signed document promising that you will
invitation /nvteʃ(ə)n/ noun an act
invitation
| pay back money borrowed 쑗 to pay a pile

of asking someone to do something 쑗 to of IOUs 쑗 I have a pile of IOUs which
issue an invitation to someone to join the need paying.
board 쑗 They advertised the invitation to irrecoverable /rkv(ə)rəb(ə)l/ ad-
irrecoverable
tender for a contract. 쑗 Invitation to subjective not possible to get back
scribe a new issue. irrecoverable
irrecoverable debt
debt /r |
invite /nvat/ verb to ask someone to kv(ə)rəb(ə)l det/ noun a debt which
invite
do something, or to ask for something 쑗 will never be paid

to invite someone to an interview 쑗 to in- irredeemable /rdiməb(ə)l/ adjec-
irredeemable
vite someone to join the board 쑗 to invite tive not possible to redeem
shareholders to subscribe a new issue 쑗 irredeemable bond /rdiməb(ə)l
irredeemable bond
to invite tenders for a contract bɒnd/ noun a government bond which

invoice / nvɔs/ noun a note asking for
invoice
has no date of maturity and which there-

payment for goods or services supplied 쑗 fore provides interest but can never be re-
your invoice dated November 10th 쑗 to deemed at full value
make out an invoice for £250 쑗 to settle or irregular /re!jυlə/ adjective not cor-
irregular
to pay an invoice 쑗 They sent in their in- rect or not done in the correct way 쑗 The
voice six weeks late. 왍 the total is paya- shipment arrived with irregular docu-
ble within thirty days of invoice the total mentation. 쑗 This procedure is highly ir-
sum has to be paid within thirty days of regular.
the date on the invoice 쐽 verb to send an
irregularities /re!jυlrtiz/ plural
irregularities
invoice to someone 쑗 to invoice a custom- | |
noun things which are not done in the

er 왍 we invoiced you on November 10th
we sent you the invoice on November correct way and which are possibly illegal
쑗 to investigate irregularities in the share
10th
dealings
invoice clerk /nvɔs klɑk/ noun an
invoice clerk
‘…the group, which asked for its shares to

office employee who deals with invoices be suspended last week after the discovery
invoice number /nvɔs nmbə/
invoice number
of accounting irregularities, is expected to

noun the reference number printed on an update investors about its financial predic-
invoice or order ament by the end of this week’ [Times]
invoice price /nvɔs pras/ noun the irregularity /re!jυlrti/ noun the
invoice price irregularity
| |
price as given on an invoice, including fact of not being regular 쑗 the irregularity
any discount and VAT of the postal deliveries
invoicing /nvɔsŋ/ noun the work of irrevocable /revəkəb(ə)l/ adjective
irrevocable
invoicing
sending invoices 쑗 All our invoicing is unchangeable

done by computer. 왍 invoicing in tripli- irrevocable acceptance /
irrevocable acceptance
cate the preparation of three copies of in- revəkəb(ə)l əkseptəns/ noun an ac- |
voices ceptance which cannot be withdrawn

irrevocable letter of credit 218

irrevocable letter of credit / issuing bank /ʃuŋ bŋk/ noun a
irrevocable letter of credit issuing bank
revəkəb(ə)l letər əv kredt/ noun a bank which organizes the selling of

letter of credit which cannot be cancelled shares in a new company
or changed, except if agreed between the IT abbr information technology
IT
two parties involved item / atəm/ noun 1. something for sale

item
왍 we are holding orders for out-of-

IRS
IRS abbr US Internal Revenue Service

ISDN /a es di en/ noun a digital tele-
ISDN
stock items we are holding orders for
phone network that supports advanced goods which are not in stock 쑗 Please
communications services and can be used find enclosed an order for the following
for high-speed data transmission. Full items from your catalogue. 2. a piece of
form Integrated Services Digital Net- information 쑗 items on a balance sheet 왍
work the items on a profit and loss account
the different entries on a profit and loss
island site /alənd sat/, island dis-
island site
account 왍 item of expenditure goods or

play /alənd ds ple/ noun an exhibi-
|
services which have been paid for and ap-
tion stand separated from others 쑗 There pear in the accounts 3. a point on a list 왍
are only two island sites at the exhibition we will now take item four on the agen-
and we have one of them. 쑗 An island site da we will now discuss the fourth point
means that visitors can approach the on the agenda
stand from several directions. itemise /atəmaz/, itemize verb to
itemise
issue /ʃu/ noun 1. the number of a

issue
make a detailed list of things 쑗 Itemising

newspaper or magazine 쑗 We have an ad the sales figures will take about two days.
in the January issue of the magazine. 2. itemised account /atəmazd ə
itemised account
an act of giving out new shares 3. a prob- kaυnt/ noun a detailed record of money
lem being discussed 쑗 To bring up the paid or owed
question of VAT will only confuse the is-
itemised deductions /atəmazd d
itemised deductions
sue. 왍 to have issues around to be con-

|
cerned about something (informal ) 쐽 dkʃ(ə)ns/ noun US deductions from a

verb to put out or to give out 쑗 to issue a
person’s taxable income which are listed
letter of credit 쑗 to issue shares in a new on his tax return
itemised invoice /atəmazd
itemised invoice
company 쑗 to issue a writ against some-

one 쑗 The government issued a report on nvɔs/ noun an invoice which lists each
London’s traffic. item separately
itemised statement /atəmazd
itemised statement
‘…the company said that its recent issue

of 10.5 per cent convertible preference stetmənt/ noun a bank statement
shares at A$8.50 a share has been oversub- where each transaction is recorded in de-
scribed’ [Financial Times] tail
itinerant worker /tnərənt w&kə/
itinerant worker
issued capital /ʃud kpt(ə)l/

issued capital
|
noun an amount of capital which is given noun a worker who moves from place to
out as shares to shareholders place, looking for work 쑗 Most of the
workers hired during the summer are itin-
issued price /ʃud pras/, issue
issued price
erant workers. 쑗 Much of the seasonal

price /ʃu pras/ noun the price of work on farms is done by itinerant work-
shares in a new company when they are ers.
offered for sale for the first time
itinerary /atnərəri/ noun a list of
itinerary
issuer /ʃuə/ noun a financial institu-

issuer |
places to be visited on one journey 쑗 a

tion that issues credit and debit cards and salesrep’s itinerary
maintains the systems for billing and pay- jack in phrasal verb to connect to
ment something electronically, especially to
issuing /ʃuŋ/ adjective organising an
issuing
connect to a network via a modem or

issue of shares similar device
J
jam /d$m/ noun a blockage 쐽 verb to down. 왍 to give up your job to resign or
jam
stop working or to be blocked 쑗 the paper retire from your work 왍 to look for a job
feed has jammed 쑗 The switchboard was to try to find work 왍 to retire from your
jammed with calls. (NOTE: jamming – job to leave work and take a pension 왍 to
jammed) be out of a job to have no work 4. a diffi-
Japanese
Japanese management
management culty 쑗 They will have a job to borrow the

/d$pəniz mnd$mənt/ noun a money they need for the expansion pro-
combination of management styles that gramme. 쑗 We had a job finding a quali-
emphasises human relations and team- fied secretary.
working and advanced manufacturing ‘…he insisted that the tax advantages he
techniques such as just-in-time produc- directed toward small businesses will help
tion and total quality management which create jobs’ [Toronto Star]
job analysis /d$ɒb ənləss/ noun a
job analysis
is credited with bringing about the Japa- |
nese economic miracle that began in the detailed examination and report on the
1960s (NOTE: Japanese management duties involved in a job
practices were studied in the rest of the job application /d$ɒb plkeʃ(ə)n/
job application
world in the hope that other countries noun the process of asking for a job in
could imitate Japan’s economic suc- writing
cess, but the downturn in the Japanese
jobber /d$ɒbə/ noun 왍 (stock) jobber
jobber
economy that began in the 1990s has

forced the Japanese themselves to re- formerly on the London Stock Exchange,
assess them.) a person who bought and sold shares from
other traders
jargon /d$ɑ!ən/ noun a special sort of
jargon
language used by a trade or profession or ‘…warehouse clubs buy directly from

particular group of people manufacturers, eliminating jobbers and
wholesale middlemen’ [Duns Business
Jiffy bag® /d$fi b!/ noun a trade
Jiffy bag®
Month]
name for a padded bag, used for sending jobbing /d$ɒbŋ/ noun 1. 왍 (stock)
jobbing
items by post 쑗 She sent the diskettes in a jobbing formerly on the London Stock
Jiffy bag.
Exchange, the business of buying and
JIT abbr just-in-time
JIT
selling shares from other traders 2. the

job /d$ɒb/ noun 1. a piece of work 왍 to
job
practice of doing small pieces of work

do a job of work to be given a job of job centre / d$ɒb sentə/ noun a gov-
job centre
work to do 왍 to do odd jobs to do various ernment office which lists jobs which are
pieces of work 쑗 He does odd jobs for us vacant 쑗 There was a long queue of un-
around the house. 왍 to be paid by the job employed people waiting at the job cen-
to be paid for each piece of work done 2. tre.
an order being worked on 쑗 We are work-
job classification /d$ɒb klsf
job classification
ing on six jobs at the moment. 쑗 The ship- |
yard has a big job starting in August. 3. keʃ(ə)n/ noun the process of describing
regular paid work 쑗 She is looking for a jobs listed in various groups
jobclub /d$ɒbklb/ noun an organisa-
jobclub
job in the computer industry. 쑗 He lost his

job when the factory closed. 쑗 Thousands tion which helps its members to find jobs
of jobs will be lost if the factories close 쑗 Since joining the jobclub she has im-
job creation scheme 220

proved her interview techniques and /d$ɒb
job specification
job specification
gained self-confidence. spesfkeʃ(ə)n/ noun a very detailed
job creation scheme /d$ɒb kri description of what is involved in a job
job creation scheme
eʃ(ə)n skim/ noun a government- job title /d$ɒb tat(ə)l/ noun the name
job title
backed scheme to make work for the un- given to the person who does a particular
employed job 쑗 Her job title is ‘Chief Buyer’.
job cuts /d$ɒb kts/ plural noun re- job vacancy /d$ɒb vekənsi/ noun a
job cuts job vacancy
ductions in the number of jobs job which is available for somebody to do

job description /d$ɒb dskrpʃən/ join /d$ɔn/ verb 1. to put things togeth-
job description
join
noun a description of what a job consists er 쑗 The offices were joined together by
of and what skills are needed for it 쑗 The making a door in the wall. 쑗 If the paper
letter enclosed an application form and a is too short to take all the accounts, you
job description. can join an extra piece on the bottom. 2.
job evaluation /d$ɒb vljueʃ(ə)n/
job evaluation
왍 to join a firm to start work with a com-
pany 왍 she joined on January 1st she
|
noun the process of examining different

jobs within an organisation to see what started work on January 1st 3. 왍 to join
skills and qualifications are needed to car- an association, a group to become a
ry them out member of an association or a group 쑗 All
the staff have joined the company pension
jobless /d$ɒbləs/ plural noun people
jobless
plan. 쑗 He was asked to join the board. 쑗

with no jobs, the unemployed (NOTE: Smith Ltd has applied to join the trade as-
takes a plural verb)
sociation.
‘…the contradiction between the jobless
joint /d$ɔnt/ adjective 1. carried out or
joint
figures and latest economic review’

[Sunday Times] produced together with others 쑗 a joint
undertaking 왍 joint discussions discus-
job losses /d$ɒb lɒsz/ noun jobs
job losses
sions between management and workers

which no longer exist because workers before something is done 2. one of two or
have been made redundant more people who work together or who
job lot / d$ɒb lɒt/ noun a group of mis-
job lot
are linked 쑗 They are joint beneficiaries

cellaneous items sold together 쑗 They of the will. 쑗 She and her brother are joint
sold the household furniture as a job lot. managing directors. 쑗 The two countries
job opening /d$ɒb əυp(ə)nŋ/ noun are joint signatories of the treaty.
job opening
a job which is empty and needs filling 쑗 joint account /d$ɔnt əkaυnt/ noun
joint account
We have job openings for office staff. a bank or building society account shared
job opportunities /d$ɒb ɒpə
job opportunities
|
by two people 쑗 Many married couples
tjuntiz/ plural noun new jobs which have joint accounts so that they can pay
are available 쑗 The increase in export or- for household expenses.
ders has created hundreds of job opportu-
joint commission of inquiry
joint commission of inquiry

nities. /d$ɔnt kəmʃ(ə)n əv nkwaəri/ noun
| |
job performance /d$ɒb pəfɔməns/ a commission or committee with repre-

job performance
noun the degree to which a job is done sentatives of various organisations on it

jointly /d$ɔntli/ adverb together with
jointly
well or badly
job satisfaction /d$ɒb sts
job satisfaction
|
one or more other people 쑗 to own a prop-
fkʃən/ noun an employee’s feeling that erty jointly 쑗 to manage a company joint-
he or she is happy at work and pleased ly 쑗 They are jointly liable for damages.
/d$ɔnt
joint management
with the work he or she does joint management

job security /d$ɒb skjυərti/ noun
job security
|
mnd$mənt/ noun management done
the likelihood that an employee will keep by two or more people
joint ownership /d$ɔnt əυnəʃp/
joint ownership
his or her job for a long time or until re-

tirement noun the owning of a property by several
job sharing /d$ɒb ʃeərŋ/ noun a sit-
job sharing
owners
joint-stock bank /d$ɔnt stɒk
joint-stock bank
uation where one job is carried out by

more than one person, each working part- bŋk/ noun a bank which is a public
time company quoted on the Stock Exchange
221 just-in-time
joint-stock company /d$ɔnt stɒk December. 쐽 verb 1. to go up suddenly 쑗
joint-stock company
kmp(ə)ni/ noun formerly, a public Oil prices have jumped since the war
company whose shares were owned by started. 쑗 Share values jumped on the
very many people. Now called a Public Stock Exchange. 2. to go away suddenly 왍
Limited Company or Plc. to jump the gun to start to do something
joint venture /d$ɔnt ventʃə/ noun a
joint venture
too early or before you should 왍 to jump
situation where two or more companies the queue to go in front of someone who
join together for one specific large busi- has been waiting longer 쑗 They jumped
ness project the queue and got their export licence be-
journal /d$&n(ə)l/ noun 1. a book with
journal
fore we did.
junior /d$uniə/ adjective 1. younger
junior
the account of sales and purchases made

each day 2. a magazine or lower in rank 왍 John Smith, Junior
journalist /d$&n(ə)lst/ noun a per-
journalist
the younger John Smith (i.e. the son of
son who writes for a newspaper John Smith, Senior) 2. less important than
something else 쐽 noun a barrister who is
journey /d$&ni/ noun a long trip, es-
journey
not a Queen’s counsel

pecially a trip made by a salesperson 쑗
junior clerk /d$uniə klɑk/ noun a
junior clerk
She planned her journey so that she could

visit all her accounts in two days. clerk, usually young, who has lower sta-
journey order /d$&ni ɔdə/ noun an
journey order
tus than a senior clerk
junior executive /d$uniə !
junior executive
order given by a shopkeeper to a salesper- |
son when they call zekjυtv/, junior manager /d$uniə

journey planning /d$&ni plnŋ/
journey planning
mnd$ə/ noun a young manager in a
noun the act of planning what calls a company
junior management /d$uniə
junior management
salesperson will make and how they will

be reached most efficiently, giving priori- mnd$mənt/ noun the managers of
ty to the more profitable accounts 쑗 The small departments or deputies to depart-
sales manager will stress how good jour- mental managers
ney planning will save precious time. 쑗 junior partner /d$uniə pɑtnə/
junior partner
Inefficient journey planning means miles noun a person who has a small part of the
of unnecessary travelling for the sales shares in a partnership
force every day. junior staff /d$uniə stɑf/ noun 1.
junior staff
judge /d$d$/ noun a person who de-

judge
younger members of staff 2. people in

cides in a legal case 쑗 The judge sent him less important positions in a company
to prison for embezzlement. 쐽 verb to junk bond /d$ŋk bɒnd/ noun a high-
junk bond
make an assessment about someone or interest bond raised as a debenture on the

something 쑗 to judge an employee’s man- security of a company which is the sub-
agerial potential 쑗 He judged it was time ject of a takeover bid
to call an end to the discussions. ‘…the big US textile company is running
judgement /d$d$mənt/, judgment
judgement
deep in the red, its junk bonds are trading

noun a legal decision or official decision as low as 33 cents on the dollar’
of a court 왍 to pronounce judgement, to [Wall Street Journal]
give your judgement on something to junk mail /d$ŋk mel/ noun 1. unso-
junk mail
give an official or legal decision about licited advertising material sent through
something the post and usually thrown away imme-
judgement debtor /d$d$mənt
judgement debtor
diately by the people who receive it 2. un-

detə/ noun a debtor who has been or- solicited advertising material sent by
dered by a court to pay a debt email
judicial /d$udʃ(ə)l/ adjective refer- jurisdiction /d$υərsdkʃən/ noun 왍
judicial
jurisdiction
|
|
ring to the law within the jurisdiction of the court in

judicial processes /d$udʃ(ə)l the legal power of a court
judicial processes
prəυsesz/ plural noun the ways in just-in-time /d$stntam/ noun a

just-in-time
which the law works system in which goods are made or pur-
jump /d$mp/ noun a sudden rise 쑗 a
jump
chased just before they are needed, so as

jump in the cost-of-living index 쑗 There to avoid carrying high levels of stock. Ab-
was a jump in unemployment figures in breviation JIT
K
K abbreviation one thousand 왍 ‘salary: something which you could give to
K
£20K+’ salary more than £20,000 per an- someone 쑗 to keep back information or
num to keep something back from someone 쑗
to keep £10 back from someone’s salary
kaizen /kazen/ noun the Japanese
kaizen
term for the continuous improvement of keep on phrasal verb to continue to do

current working methods and processes. something 쑗 The factory kept on work-
Kaizen makes use of a range of tech- ing in spite of the fire. 쑗 We keep on re-
niques, including small-group problem- ceiving orders for this item although it
solving, suggestion schemes, statistical was discontinued two years ago.
analysis, brainstorming, and work studies keep up phrasal verb to hold at a cer-
to eliminate waste and encourage innova- tain high level 쑗 We must keep up the
tion and working to new standards. turnover in spite of the recession. 쑗 She
(NOTE: Kaizen is derived from the words kept up a rate of sixty words per minute
‘kai’, meaning ‘change’, and ‘zen’, for several hours.
meaning ‘good’ or ‘for the better’.)
keiretsu
keiretsu, keiretsu business group a

Japanese conglomerate company or busi-
KBG
KBG abbr keiretsu business group

KD
KD abbr knockdown ness alliance whose members hold shares

in the other member companies. Keiretsu
keen /kin/ adjective 왍 keen prices pric-
keen
business groups generally consist of firms

es which are kept low so as to be compet- that share close buyer-supplier relation-
itive 쑗 Our prices are the keenest on the ships and are characterised by close inter-
market. nal control, policy co-ordination, and co-
keep /kip/ verb 1. to go on doing some- hesiveness. Abbreviation KBG
keep
thing 쑗 They kept working, even when the key /ki/ adjective important 쑗 a key fac-
key
boss told them to stop. 쑗 The other secre- tor 쑗 key industries 쑗 key personnel 쑗 a
taries complain that she keeps singing key member of our management team 쑗
when she is typing. 2. to do what is neces- She has a key post in the organisation. 쑗
sary for something 왍 to keep an appoint- We don’t want to lose any key staff in the
ment to be there when you said you reorganisation. 쐽 verb 왍 to key in data
would be 왍 to keep the books of a com- to put information into a computer
pany, to keep a company’s books to note ‘…he gave up the finance job in Septem-
the accounts of a company accurately 3. ber to devote more time to his global re-
to hold items for sale or for information 왍 sponsibilities as chairman and to work
we always keep this item in stock we al- more closely with key clients’ [Times]
ways have this item in our warehouse or
keyboard /kibɔd/ noun the part of a
keyboard
shop 4. to hold things at some level 쑗 to

keep spending to a minimum 쑗 We must computer or other device with keys which
keep our mailing list up to date. 쑗 The are pressed to make letters or figures 쐽
price of oil has kept the pound at a high verb to press the keys on a keyboard to
level. 쑗 Lack of demand for the product type something 쑗 She is keyboarding our
has kept prices down. (NOTE: keeping – address list.
keyboarder /kibɔdə/ noun a person
keyboarder
kept)
keep back phrasal verb to hold on to who types information into a computer
223 knock-on effect

keyboarding /kibɔdŋ/ noun the act buy 2. referring to a very large size of
keyboarding
of typing on a keyboard 쑗 Keyboarding poster

costs have risen sharply. kiosk /kiɒsk/ noun a small wooden
kiosk
keyboarding speed /kibɔdŋ shelter, for selling goods out of doors 쑗

keyboarding speed
spid/ noun the number of words per She had a newspaper kiosk near the sta-
minute which a keyboarder can enter tion for 20 years.
keyed /kid/ adjective which has a key kite /kat/ noun 왍 to fly a kite to put for-
kite
keyed
keyed advertisement /kid əd

keyed advertisement
|
ward a proposal to try to interest people 쐽
v&tsmənt/ noun an advertisement verb 1. US to write cheques on one ac-
which asks people to write to a specially count which may not be able to honour
coded address which will indicate where them and deposit them in another, with-
they saw it, thus helping the advertisers to drawing money from the second account
evaluate the effectiveness of advertising before the cheques are cleared 2. to use
in that particular newspaper or magazine stolen credit cards or cheque books
kite flier /kat flaə/ noun a person
kite flier
key money /ki mni/ noun a premi-

key money
um paid when taking over the keys of a who tries to impress people by putting
forward a proposal
flat or office which you are renting
kite-flying /kat flaŋ/ noun the
kite-flying
key-person insurance /ki p&s(ə)n

key-person insurance
practice of trying to impress people by

nʃυərəns/ noun an insurance policy
|
putting forward grand plans

taken out to cover the costs of replacing
Kitemark /katmɑk/ trademark a
Kitemark
an employee who is particularly impor-

tant to an organisation if he or she dies or mark on goods to show that they meet of-
is ill for a long time ficial standards
kitty /kti/ noun money which has been
kitty
keyword /kiw&d/ noun a word used

keyword
by a search engine to help it locate a par- collected by a group of people to be used

ticular type of website (NOTE: Compa- later, such as for an office party 쑗 We each
nies need to think very carefully about put £5 into the kitty.
km abbr kilometre
km
the keywords they place in their web-

knock / nɒk/ verb 왍 to knock the com-
knock
pages in order to attract relevant search-

engine traffic.) petition to hit competing firms hard by
kg abbr kilogram
kg
vigorous selling
kickback /kkbk/ noun an illegal
kickback
knock down phrasal verb 왍 to knock
commission paid to someone, especially a something down to a bidder to sell
government official, who helps in a busi- something to somebody at an auction 쑗
ness deal The furniture was knocked down to him
for £100. 왍 knockdown (KD) goods
killing /klŋ/ noun a huge profit
killing
goods sold in parts, which must be as-

(informal ) 쑗 He made a killing on the sembled by the buyer
stock market. knock off phrasal verb 1. to stop work
kilo /kiləυ/, kilogram /klə!rm/
kilo
쑗 We knocked off at 3p.m. on Friday. 2.

noun a measure of weight (= one thou- to reduce a price by a particular amount
sand grams) 쑗 Packets weighing more 쑗 She knocked £10 off the price for
than 2kg must go by parcel post. (NOTE: cash. 쐽 noun a cheap copy of an estab-
Written kg after figures: 20kg.) lished product, often an illegal copy of a
kilobyte /kləυbat/ noun a unit of famous named brand
kilobyte
storage in a computer (= 1,024 bytes) knockdown price /nɒkdaυn pras/

knockdown price
kilometre /kləmitə / noun a measure noun a very low price 쑗 He sold me the
kilometre
of length (= one thousand metres) (NOTE: car at a knockdown price.

The US spelling is kilometer.) 왍 the car knocking copy / nɒkŋ kɒpi/ noun
knocking copy
does fifteen kilometres to the litre the advertising material which criticises com-
car uses a litre of petrol to travel fifteen peting products
kilometres knock-on effect /nɒk ɒn fekt/
knock-on effect
king-size /kŋ saz/ adjective 1. refer-

king-size
noun the effect which an action will have

ring to an extra large container of a prod- on other situations 쑗 The strike by cus-
uct, usually comparatively economical to toms officers has had a knock-on effect on
know 224
car production by slowing down exports knowledge /nɒld$/ noun what is
knowledge
of cars. known 왍 he had no knowledge of the

know /nəυ/ verb 1. to learn or to have in- contract he did not know that the contract
know
formation about something 쑗 I do not existed

know how a computer works. 쑗 Does she knowledge capital /nɒld$
knowledge capital
know how long it takes to get to the air- kpt(ə)l/ noun knowledge, especially
port? 쑗 The managing director’s secre- specialist knowledge, that a company and
tary does not know where he is. 쑗 He its employees possess and that can be put
knows the African market very well. 쑗 I to profitable use
don’t know how a computer works. 2. to knowledge management /nɒld$
knowledge management
have met someone 쑗 Do you know Ms mnd$mənt/ noun the task of co-ordi-
Jones, our new sales director? (NOTE: nating the specialist knowledge possessed
knowing – knew – known) by employees so that it can be exploited to
know-how /nəυ haυ/ noun knowledge create benefits and competitive advantage
know-how
or skill in a particular field 쑗 to acquire for the organisation

computer know-how 쑗 If we cannot re- knowledge worker /nɒld$ w&kə/
knowledge worker
cruit staff with the right know-how, we noun an employee whose value to an or-
will have to initiate an ambitious training ganisation lies in the information, ideas
programme. and expertise that they possess
know-how fund /nəυ haυ fnd/ krona /krəυnə/ noun a unit of currency
know-how fund krona
noun a fund created by the UK govern- used in Sweden and Iceland

krone /krəυnə/ noun a unit of currency
krone
ment to provide technical training and ad-

vice to countries of Eastern Europe used in Denmark and Norway
L
laboratory technician /ləbɒrət(ə)ri
l laboratory technician
l abbr litre |
labelling /leb(ə)lŋ/ noun the act of

labelling
teknʃ(ə)n/ noun a person who deals
|
putting a label on something with practical work in a laboratory

labor union /lebə jυnjən/ noun US
labor union
labelling department /leb(ə)lŋ d

labelling department
an organisation which represents employ-

pɑtmənt/ noun a section of a factory
ees who are its members in discussions
where labels are attached to the product about wages and conditions of work with
/leb(ə)lŋ
labelling program
labelling program management (NOTE: The UK term is

prəυ!rm/ noun a word-processing trade union.)
program which allows you to print ad- labour /lebə/ noun 1. heavy work
labour
dresses from an address list onto labels (NOTE: The US spelling is labor.) 왍 to
laboratory /ləbɒrət(ə)ri/ noun a place
laboratory
| charge for materials and labour to

where scientific research is carried out 쑗 charge for both the materials used in a job
The product was developed in the compa- and also the hours of work involved 왍 la-
ny’s laboratories. 쑗 All products are test- bour is charged at £5 an hour each hour
ed in our own laboratories. (NOTE: The of work costs £5 2. workers, the work-
plural is laboratories.) force 쑗 We will need to employ more la-
225 lame duck

bour if production is to be increased. 쑗 labour turnover /lebə t&nəυvə/
labour turnover
The costs of labour are rising in line with noun the movement of employees with
inflation. (NOTE: The US spelling is la- some leaving their jobs and others join-
bor.) 왍 labour shortage, shortage of la- ing. Also called turnover of labour
bour a situation where there are not lack /lk/ noun the fact of not having
lack
enough workers to fill jobs 3. (NOTE: The enough 왍 lack of data, lack of informa-
US spelling is labor.) 왍 labour disputes tion not having enough information 쑗
arguments between management and The decision has been put back for lack of
workers 왍 labour laws, labour legisla- up-to-date information. 왍 lack of funds
tion laws relating to the employment of not enough money 쑗 The project was can-
workers celled because of lack of funds. 쐽 verb not
‘…the possibility that British goods will to have enough of something 쑗 The com-
price themselves back into world markets pany lacks capital. 쑗 The industry lacks
is doubtful as long as sterling labour costs skilled staff. 왍 the sales staff lack moti-
continue to rise faster than in competitor vation the sales staff are not motivated
countries’ [Sunday Times] enough
labour costs /lebə kɒsts/ noun the
labour costs
ladder /ldə/ noun a series of different

ladder
cost of the employees employed to make levels through which an employee may
a product, not including materials or over- progress
heads laden /led(ə)n/ adjective loaded 왍 ful-
laden
labourer /lebərə/ noun a person who

labourer
ly-laden ship ship with a full cargo

does heavy work lading /ledŋ/ noun the work of
lading
labour force /lebə fɔs/ noun all the

labour force
putting goods on a ship

employees in a company or in an area 쑗 Laffer curve /lfə k&v/ noun a chart
Laffer curve
The management has made an increased showing that cuts in tax rates increase
offer to the labour force. 쑗 We are open- output in the economy. Alternatively, in-
ing a new factory in the Far East because creases in tax rates initially produce more
of the cheap local labour force. revenue and then less as the economy
‘70 per cent of Australia’s labour force is slows down.
employed in service activity’ [Australian laggards /l!ədz/ plural noun a cate-
laggards
Financial Review] gory of buyers of a product who are the

labour-intensive /lebər ntensv/
labour-intensive
| last to buy it or use it

adjective referring to an industry which lagging indicator /l!ŋ ndketə/
lagging indicator
needs large numbers of employees or noun an indicator which shows a change

where labour costs are high in relation to in economic trends later than other indi-
turnover 쑗 As the business became more cators, e.g. the gross national product.
labour-intensive, so human resources Opposite leading indicator
management became more important. 쑗 laid up /led p/ adjective 1. not used
laid up
With computerisation, the business has because there is no work 쑗 Half the ship-
become much less labour-intensive. ping fleet is laid up by the recession. 2.
labour market /lebə mɑkt/ noun
labour market
(person who is) unable to work because of

the number of people who are available illness or injury 쑗 Half the staff are laid
for work 쑗 25,000 school-leavers have up with flu.
just come on to the labour market. laissez-faire economy /lese feər 
laissez-faire economy
‘European economies are being held back kɒnəm/ noun an economy where the
by rigid labor markets and wage struc- government does not interfere because it
tures’ [Duns Business Month] believes it is right to let the economy run
labour relations /lebə rleʃ(ə)nz/
labour relations
| itself
plural noun relations between manage- lakh /lk/ noun (in India) one hundred
lakh
ment and employees 쑗 The company has thousand (NOTE: Ten lakh equal one
a history of bad labour relations. crore.)
labour-saving /lebə sevŋ/ adjec- lame duck /lem dk/ noun 1. a com-
labour-saving lame duck
tive avoiding the need for work by some- pany which is in financial difficulties 쑗
one 쑗 Costs will be cut by the introduc- The government has refused to help lame
tion of labour-saving devices. duck companies. 2. an official who has
LAN 226
not been re-elected and is finishing his fer lapse to allow time to pass so that an
term of office 쑗 a lame-duck president offer is no longer valid
LAN abbr local area network laptop /lptɒp/ noun a small portable
LAN laptop
land /lnd/ verb to put goods or passen- computer which you can hold on your
land
gers onto land after a voyage by sea or by knees to work 쑗 I take my laptop with me
air 쑗 The ship landed some goods at so that I can write reports on the train. 쑗
Mombasa. 쑗 The plane stopped for thirty Our reps all have laptops on which they
minutes at the local airport to land pas- can key their orders and email them back
sengers and mail. to the warehouse.
land agent /lnd ed$ənt/ noun a large /lɑd$/ adjective very big or im-
large
land agent
person who runs a farm or a large area of portant 쑗 he is our largest customer 쑗
land for the owner Our company is one of the largest suppli-
land bank /lnd bŋk/ noun undevel-
land bank
ers of computers to the government. 쑗
oped land which belongs to a property de- Why has she got an office which is larger
veloper than mine?
largely /lɑd$li/ adverb mainly or
largely
landed costs /lndd kɒsts/ plural

landed costs
noun the costs of goods which have been mostly 쑗 Our sales are largely in the
delivered to a port, unloaded and passed home market. 쑗 They have largely pulled
through customs out of the American market.
large-scale /lɑd$ skel/ adjective in-
large-scale
landing card /lndŋ kɑd/ noun a

landing card
card given to passengers who have passed volving large numbers of people or large
through customs and can land from a ship amounts of money 쑗 large-scale invest-
or an aircraft ment in new technology 쑗 large-scale re-
landing charges /lndŋ tʃɑd$z/
landing charges
dundancies in the construction industry 쐽
plural noun payments for putting goods noun working with large or small
on land and paying customs duties amounts of investment, staff, etc.
large-sized business /lɑd$ sazd
large-sized business
landing order /lndŋ ɔdə/ noun a

landing order
permit which allows goods to be unload- bzns/ noun an organisation that has
ed into a bonded warehouse without pay- 500 or more employees
large-sized company /lɑd$ sazd
large-sized company
ing customs duty

landlady /lndledi/ noun a woman
landlady
kmp(ə)ni/ noun a company which has
who owns a property which she lets 쑗 We a turnover of more than £5.75m or em-
pay our rent direct to the landlady every ploys more than 250 staff
laser cartridge /lezə kɑtrd$/
laser cartridge
week.
landlord /lndlɔd/ noun a person or
landlord
noun a cartridge of toner for a laser print-
company which owns a property which is er
laser paper /lezə pepə/ noun paper
laser paper
let
landowner /lndəυnə/ noun a person
landowner
used in a laser printer
last /lɑst/ adjective, adverb 1. coming
last
who owns large areas of land

land register /lnd red$stə/ noun a
land register
at the end of a series 쑗 Out of a queue of
list of pieces of land, showing who owns twenty people, I was served last. 쑗 This is
each and what buildings are on it our last board meeting before we move to
land registration /lnd red$
land registration
|
our new offices. 쑗 We finished the last
streʃ(ə)n/ noun a system of registering items in the order just two days before the
land and its owners promised delivery date. 2. most recent or
most recently 쑗 Where is the last batch of
Land Registry /lnd red$stri/
Land Registry
invoices? 쑗 The last ten orders were only

noun a government office where details for small quantities. 왍 last week, last
of land ownership and sales are kept month, last year the week, month or year
land tax /lnd tks/ noun a tax on the
land tax
before this one 쑗 Last week’s sales were

amount of land owned the best we have ever had. 쑗 The sales
lapse /lps/ noun 왍 a lapse of time a
lapse
managers have been asked to report on

period of time which has passed 쐽 verb to last month’s drop in unit sales. 쑗 Last
stop being valid, or to stop being active 쑗 year’s accounts have to be ready by the
The guarantee has lapsed. 왍 to let an of- AGM. 쑗 Last year’s accounts have to be
227 launder
ready in time for the AGM. 쐽 verb to go lateral integration /lt(ə)rəl ntə
lateral integration
on, to continue 쑗 The boom started in the !reʃ(ə)n/ noun the act of joining simi-
1980s and lasted until the early 1990s. 쑗 lar companies or taking over a company
The discussions over redundancies lasted in the same line of business as yourself 쑗
all day. Lateral integration will allow a pooling of
last in first out /lɑst n f&st aυt/ resources. 쑗 Lateral integration in the
last in first out
noun 1. a redundancy policy using the form of a merger will improve the efficien-
principle that the people who have been cy of both businesses involved.
most recently appointed are the first to be lateral thinking /lt(ə)rəl θŋkŋ/
lateral thinking
made redundant 2. an accounting method noun an imaginative approach to prob-

where stock is valued at the price of the lem-solving which involves changing es-
earliest purchases. Abbreviation LIFO. tablished patterns of thinking to help
Compare first in first out make a breakthrough 쑗 Lateral thinking
last quarter /lɑst kwɔtə/ noun a
last quarter
resulted in finding a completely new use

period of three months at the end of the fi- for an existing product. 쑗 Brainstorming
nancial year sessions encourage lateral thinking and
last will and testament /lɑst wl originality.
last will and testament
ən testəmənt/ noun a will, a document latest / letst/ adjective most recent 쑗

latest
by which a person says what he or she He always drives the latest model of car.
wants to happen to their property when 쑗 Here are the latest sales figures.
they die
launch /lɔntʃ/ verb 1. to put a new
launch
late /let/ adjective 1. after the time stat-

late
product on the market, usually spending

ed or agreed 쑗 We apologise for the late money on advertising it 쑗 They launched
arrival of the plane from Amsterdam. 왍 their new car model at the motor show. 쑗
there is a penalty for late delivery if de- The company is spending thousands of
livery is later than the agreed date, the pounds on launching a new brand of
supplier has to pay a fine 2. at the end of soap. 2. to put a company on the Stock
a period of time 왍 latest date for signa- Exchange for the first time 쐽 noun 1. the
ture of the contract the last acceptable act of putting a new product on the market
date for signing the contract 쐽 adverb af- 쑗 The launch of the new model has been
ter the time stated or agreed 쑗 The ship- put back three months. 쑗 The manage-
ment was landed late. 쑗 The plane was ment has decided on a September launch
two hours late. date. 쑗 The company is geared up for the
late majority /let məd$ɒrti/ noun a
late majority
| launch of its first microcomputer. 2. the

category of buyers of a product who buy act of putting a company on the Stock Ex-
it later than the early majority but before change for the first time
the laggards launching /lɔntʃŋ/ noun the act of
launching
latent /let(ə)nt/ adjective present but

latent
putting a new product on the market

not yet developed
launching costs /lɔntʃŋ kɒsts/
launching costs
latent demand /let(ə)nt dmɑnd/

latent demand
|
plural noun the costs of publicity for a
noun a situation where there is demand new product
for a product but potential customers are
launching date /lɔntʃŋ det/ noun
launching date
unable to pay for it 쑗 We will have to wait

for the economy to improve in countries the date when a new product is officially
where there is latent demand. 쑗 Situation shown to the public for the first time
launching party /lɔntʃŋ pɑti/
launching party
analysis has shown that there is only la-

tent demand. noun a party held to advertise the launch-
lateral /lt(ə)rəl/ adjective at the same ing of a new product
lateral
level or with the same status 쑗 Her trans- launder /lɔndə/ verb to pass illegal
launder
fer to Marketing was something of a lat- profits, money from selling drugs, money
eral move. which has not been taxed, etc., into the
lateral diversification /lt(ə)rəl da banking system 쑗 to launder money
lateral diversification
v&sfkeʃ(ə)n/ noun the act of diver-

|
through an offshore bank
sifying into quite a different type of busi- ‘…it has since emerged that the bank was
ness being used to launder drug money and
law 228
some of its executives have been given US to dismiss employees permanently
lengthy jail sentences’ [Times] 왍 to lay off risks to protect oneself
law /lɔ/ noun 1. 왍 to take someone to
law
against risk in one investment by mak-

law to tell someone to appear in court to ing other investments
settle an argument 왍 inside or within the ‘…the company lost $52 million last year,
law obeying the laws of a country 왍 and has laid off close to 2,000 employees’
against or outside the law not according [Toronto Star]
to the laws of a country 쑗 The company is lay out phrasal verb to spend money 쑗
possibly operating outside the law. 왍 to We had to lay out half our cash budget
break the law to do something which is on equipping the new factory.
not allowed by law 쑗 He is breaking the lay up phrasal verb to stop using a ship
law by trading without a licence. 쑗 You because there is no work 쑗 Half the
will be breaking the law if you try to take shipping fleet is laid up by the reces-
that computer out of the country without sion. 쒁 laid up
an export licence. 2. a rule governing ‘…while trading conditions for the tanker
some aspect of human activity made and are being considered, it is possible that the
enforced by the state 왍 (the) law all the ship could be laid up’ [Lloyd’s List]
laws that are in force in a country consid- lay-off /le ɒf/ noun an act of temporar-
lay-off
ered as a body or system ily dismissing an employee for a period of

law courts /lɔ kɔts/ plural noun a more than four weeks 쑗 The recession
law courts
place where a judge listens to cases and has caused hundreds of lay-offs in the car
decides who is right legally industry.
lawful /lɔf(ə)l/ adjective acting within layout /leaυt/ noun the arrangement of
layout
lawful
the law 왍 lawful practice action which is the inside space of a building or its con-
permitted by the law 왍 lawful trade trade tents 쑗 They have altered the layout of the
which is allowed by law offices.
lawfully /lɔfυli/ adverb acting within lb abbr pound
lb
lawfully
the law LBO abbr leveraged buyout

LBO
law of diminishing returns /lɔr əv L/C abbr letter of credit

law of diminishing returns L/C
dmnʃŋ rt&nz/ noun a general rule

| |
LDT abbr licensed deposit-taker
LDT
that as more factors of production such as lead /lid/ verb 1. to be the first, to be in
lead
land, labour and capital are added to the front 쑗 The company leads the market in
existing factors, so the amount they pro- cheap computers. 2. to be the main person
duce is proportionately smaller in a group 쑗 She will lead the trade mis-
law of supply and demand /lɔr əv
law of supply and demand
sion to Nigeria. 쑗 The tour of American

səpla ən dmɑnd/ noun a general rule
| |
factories will be led by the minister.
that the amount of a product which is (NOTE: leading – led) 쐽 noun 1. infor-
available is related to the needs of poten- mation which may lead to a sale 쑗 It has
tial customers been difficult starting selling in this terri-
lawsuit /lɔsut/ noun a case brought to tory with no leads to follow up. 쑗 I was
lawsuit
a court 왍 to bring a lawsuit against given some useful leads by the sales rep
someone to tell someone to appear in who used to cover this territory. 2. a pro-
court to settle an argument 왍 to defend a spective purchaser who is the main deci-
lawsuit to appear in court to state your sion-maker when buying a product or
case service 쐽 adjective most important, in the
lawyer /lɔjə/ noun a person who has front
lawyer
studied law and practises law as a profes- lead (up) to phrasal verb to come be-
sion fore and be the cause of 쑗 The discus-
lay off phrasal verb 1. to dismiss em- sions led to a big argument between the
ployees for a time until more work is management and the union. 쑗 We re-
available 쑗 The factory laid off half its ceived a series of approaches leading
employees because of lack of orders. 왍 up to the takeover bid.
to lay off workers to dismiss workers leader /lidə/ noun 1. a person who
leader
for a time (until more work is available) manages or directs others 쑗 the leader of
쑗 The factory laid off half its workers the construction workers’ union or the
because of lack of orders. 2. especially construction workers’ leader 쑗 She is the
229 lease
leader of the trade mission to Nigeria. 쑗 /lin
lean management
lean management
The minister was the leader of the party of mnd$mənt/ noun a style of manage-
industrialists on a tour of American facto- ment, where few managers are employed,
ries. 2. a product which sells best 3. an allowing decisions to be taken rapidly
important share, a share which is often lean production /lin prədkʃən/,
lean production
bought or sold on the Stock Exchange lean operation /lin ɒpəreʃ(ə)n/ noun|
leader pricing /lidə prasŋ/ noun

leader pricing
a production method which reduces ex-

the practice of cutting prices on some cessive expenditure on staff and concen-
goods in the hope that they attract cus- trates on efficient low-cost manufacturing
tomers to the shop where more profitable leap-frogging /lip frɒ!ŋ/ adjective
leap-frogging
sales can be made 왍 leap-frogging pay demands pay de-

leadership /lidəʃp/ noun a quality
leadership
mands where each section of employee

that enables a person to manage or admin- asks for higher pay to do better than an-
ister others 쑗 Employees showing leader- other section, which then asks for further
ship potential will be chosen for manage- increases in turn
ment training. Learning
Learning and Skills Council
and Skills Council

leading /lidŋ/ adjective 1. most im- /l&nŋ ən sklz kaυnsəl/ noun a gov-
leading
portant 쑗 Leading industrialists feel the ernment organisation responsible for the
end of the recession is near. 쑗 Leading education and training of people over the
shares rose on the Stock Exchange. 쑗 age of 16
Leading shareholders in the company learning curve /l&nŋ k&v/ noun a
learning curve
forced a change in management policy. 쑗 process of learning something that starts

They are the leading company in the field. slowly and then becomes faster
2. which comes first learning difficulty
learning difficulty /l&nŋ

leading indicator /lidŋ ndketə/ dfk(ə)lti/ noun a condition which pre-
leading indicator
noun an indicator such as manufacturing vents someone from learning basic skills
order books which shows a change in eco- or assimilating information as easily as
nomic trends earlier than other indicators. other people (NOTE: The plural is learn-
Opposite lagging indicator ing difficulties.)
lead partner / lid pɑtnə/ noun the learning relationship /l&nŋ r
lead partner learning relationship
organisation that takes the leading role in leʃ(ə)nʃp/ noun a relationship between
a business alliance a supplier and a customer in which the
lead time /lid tam/ noun the time be-
lead time
supplier changes and adapts a product as
tween deciding to place an order and re- it learns more about the customer’s re-
ceiving the product 쑗 The lead time on quirements
lease /lis/ noun 1. a written contract for
lease
this item is more than six weeks.

leaflet /liflət/ noun a sheet of paper
leaflet
letting or renting a building, a piece of
giving information, used to advertise land or a piece of equipment for a period
something 쑗 to mail leaflets advertising a against payment of a fee 쑗 to rent office
new hairdressing salon 쑗 They are hand- space on a twenty-year lease 왍 the lease
ing out leaflets describing the financial expires next year or the lease runs out
services they offer. 쑗 We made a leaflet next year the lease comes to an end next
mailing to 20,000 addresses. year 2. 왍 to hold an oil lease in the
North Sea to have a lease on a section of
leak /lik/ verb to pass on secret informa-
leak
the North Sea to explore for oil 쐽 verb 1.

tion 쑗 Information on the contract was to let or rent offices, land or machinery for
leaked to the press. 쑗 They discovered an a period 쑗 to lease offices to small firms 쑗
employee was leaking information to a ri- to lease equipment 2. to use an office,
val company. 쑗 The new manager was land or machinery for a time and pay a fee
guilty of leaking confidential information 쑗 to lease an office from an insurance
about the organisation to the press. company 쑗 All our company cars are
leakage /likd$/ noun an amount of
leakage
leased.
goods lost in storage, e.g. by going bad or lease back phrasal verb to sell a prop-
by being stolen or by leaking from the erty or machinery to a company and
container then take it back on a lease 쑗 They sold
lease-back 230
the office building to raise cash, and legacy /le!əsi/ noun a piece of proper-
legacy
then leased it back on a twenty-five year ty given by someone to someone else in a

lease. will
lease-back /lisbk/ noun an arrange- legal /li!(ə)l/ adjective 1. according to
lease-back legal
ment where property is sold and then tak- the law or allowed by the law 쑗 The com-
en back on a lease 쑗 They sold the office pany’s action in sacking the accountant
building and then took it back under a was completely legal. 2. referring to the
lease-back arrangement. law 왍 to take legal action to sue someone
leasehold /lishəυld/ noun, adjective or to take someone to court 왍 to take le-
leasehold
possessing property on a lease, for a fixed gal advice to ask a lawyer to advise about
time 쑗 to buy a property leasehold 쑗 We a legal problem
are currently occupying a leasehold prop- legal adviser /li!(ə)l ədvazə/ noun
legal adviser
erty. 쑗 The company has some valuable a person who advises clients about the
leaseholds. 쐽 noun a property held on a law
lease from a freeholder 쑗 The company legal claim /li!(ə)l klem/ noun a
legal claim
has some valuable leaseholds. 쐽 adjec- statement that someone owns something
tive on a lease from a freeholder 쑗 to buy legally 쑗 He has no legal claim to the
a property leasehold 쑗 We are currently property.
occupying a leasehold property.
legal costs / li!(ə)l kɒsts/, legal
legal costs
leaseholder /lishəυldə/ noun a per-

leaseholder
charges /li!(ə)l tʃɑd$z/, legal ex-

son who holds a property on a lease penses /li!(ə)l kspensz/ plural
|
leasing /lisŋ/ noun the use of a lease

leasing
noun money spent on fees to lawyers 쑗

or of equipment under a lease 쑗 an equip- The clerk could not afford the legal ex-
ment-leasing company 쑗 to run a copier penses involved in suing her boss.
under a leasing arrangement 쑗 The com- legal currency /li!(ə)l krənsi/
legal currency
pany has branched out into car leasing. 쒁 noun money which is legally used in a
lessee country
leave /liv/ noun permission to be away
leave
legal department /li!(ə)l d

legal department
from work 왍 six weeks’ annual leave six

|
pɑtmənt/ noun a section of a company

weeks’ holiday each year 왍 to go or be on dealing with legal matters
leave to be away from work 쑗 She is away
legal expert /li!(ə)l eksp&t/ noun a
legal expert
on sick leave or on maternity leave. 쐽

verb 1. to go away from 쑗 He left his of- person who knows a lot about the law
legal holiday /li!(ə)l hɒlde/ noun
legal holiday
fice early to go to the meeting. 쑗 The next

plane leaves at 10.20. 2. to resign 쑗 He a day when banks and other businesses
left his job and bought a farm. (NOTE: are closed
legalisation /li!əlazeʃ(ə)n/, le-
legalisation
leaving – left) |
leave out phrasal verb not to include 쑗 galization noun the act of making some-
She left out the date on the letter. 쑗 The thing legal 쑗 the campaign for the legali-
contract leaves out all details of market- sation of cannabis
ing arrangements. legalise /li!əlaz/, legalize verb to
legalise
leave of absence /liv əv bsəns/

leave of absence
make something legal

noun permission to be absent from work legality /l!lti/ noun the fact of be-
legality
쑗 He asked for leave of absence to visit ing allowed by law 쑗 There is doubt about
his mother in hospital. the legality of the company’s action in
-led /led/ suffix which is led by some-
-led
dismissing him.
thing 쑗 an export-led boom 쑗 the con- legally /li!əli/ adverb according to the
legally
sumer-led rise in sales law 왍 the contract is legally binding ac-

ledger /led$ə/ noun a book in which
ledger
cording to the law, the contract has to be

accounts are written obeyed 왍 the directors are legally re-
left luggage office /left l!d$ sponsible the law says that the directors
left luggage office
ɒfs/ noun a room where suitcases can are responsible

legal proceedings /li!(ə)l prə
legal proceedings
be left while passengers are waiting for a |
plane or train (NOTE: The US term is sidŋz/ plural noun legal action or a
baggage room.) lawsuit
231 letter of allotment

legal profession / li!(ə)l prə lessor /lesɔ/ noun a person who grants
legal profession lessor
| |
feʃ(ə)n/ noun all qualified lawyers a lease on a property

legal tender /li!(ə)l tendə/ noun let /let/ verb to allow the use of a house,
legal tender let
coins or notes which can be legally used an office or a farm to someone for the
to pay a debt payment of rent 왍 to let an office to allow
legatee /le!əti/ noun a person who someone to use an office for a time in re-
legatee
receives property from someone who has turn for payment of rent 왍 offices to let
died offices which are available to be leased by
legislation /led$sleʃ(ə)n/ noun
legislation
|
companies 쐽 noun the period of the lease
laws of a property 쑗 They took the office on a
short let.
lemon /lemən/ noun 1. a product, espe-
lemon
cially a car, that is defective in some way let go /let !əυ/ verb to make someone
2. an investment that is performing poorly
redundant or to sack someone (euphe-
mism) (NOTE: letting – let)
lend /lend/ verb to allow someone to use
lend
let-out clause /let aυt klɔz/ noun a

let-out clause
something for a period 쑗 to lend some-

thing to someone or to lend someone clause which allows someone to avoid do-
something 쑗 to lend money against secu- ing something in a contract 쑗 He added a
rity 쑗 He lent the company money or He let-out clause to the effect that the pay-
lent money to the company. 쑗 The bank ments would be revised if the exchange
lent her £50,000 to start her business. rate fell by more than 5%.
letter /letə/ noun 1. a piece of writing
letter
(NOTE: lending – lent)

lender /lendə/ noun a person who
lender
sent from one person or company to an-
lends money other to ask for or to give information 2.
왍 to acknowledge receipt by letter to
lender of the last resort /lendə əv
lender of the last resort
write a letter to say that something has

ðə lɑst rzɔt/ noun a central bank
|
been received
which lends money to commercial banks COMMENT: First names are commonly
lending /lendŋ/ noun an act of letting
lending
used between business people in the

someone use money for a time UK; they are less often used in other Eu-
ropean countries (France and Germa-
lending limit /lendŋ lmt/ noun a
lending limit
ny), for example, where business letters

restriction on the amount of money a bank tend to be more formal.
can lend letter box /letə bɒks/ noun a place
letter box
length /leŋθ/ noun 1. a measurement of

length
where incoming mail is put

how long something is 쑗 The boardroom
letterhead /letəhed/ noun 1. the name
letterhead
table is twelve feet in length. 쑗 Inches and

centimetres are measurements of length. and address of a company printed at the
2. 왍 to go to great lengths to get some-
top of a piece of notepaper 2. US a sheet
thing to do anything (even commit a of paper with the name and address of the
company printed on it (NOTE: The UK
crime) to get something 쑗 They went to term is headed paper.)
considerable lengths to keep the project
letter heading /letə hedŋ/ noun the
letter heading
secret.
length of service /leŋθ əv s&vs/
length of service
name and address of a company printed at
noun the number of years someone has the top of a piece of notepaper
letter of acknowledgement /letər
letter of acknowledgement
worked
less /les/ adjective smaller than, of a
less
əv əknɒld$mənt/ noun a letter which
|
smaller size or of a smaller value 쑗 We do says that something has been received
letter of advice /letər əv ədvas/
letter of advice
not grant credit for sums of less than |
£100. 쑗 He sold it for less than he had noun same as advice note 쑗 The letter of
paid for it. 쐽 preposition minus, with a advice stated that the goods would be at
sum removed 쑗 purchase price less 15% Southampton on the morning of the 6th. 쑗
discount 쑗 interest less service charges 쐽 The letter of advice reminded the custom-
adverb not as much er of the agreed payment terms.
lessee /lesi/ noun a person who has a letter of allotment /letər əv ə
lessee letter of allotment
| |
lease or who pays money for a property lɒtmənt/ noun a letter which tells some-
he or she leases one who has applied for shares in a new
letter of application 232

company how many shares he or she has given by a court to allow someone to deal
been allotted with the estate of a person who has died
letter of application /letər əv pl letters patent /letəz petənt/ plural
letter of application letters patent
keʃ(ə)n/ noun a letter in which some- noun the official term for a patent
one applies for a job letting agency /letŋ ed$ənsi/ noun
letting agency
letter of appointment /letər əv ə

letter of appointment
| an agency which deals in property to let

pɔntmənt/ noun a letter in which level /lev(ə)l/ noun the position of
level
someone is appointed to a job something compared to others 쑗 low lev-

letter of comfort /letər əv kmfət/
letter of comfort
els of productivity or low productivity lev-

noun a letter supporting someone who is els 쑗 to raise the level of employee bene-
trying to get a loan fits 쑗 to lower the level of borrowings 왍
letter of complaint /letər əv kəm high level of investment large amounts
letter of complaint
plent/ noun a letter in which someone of money invested 왍 a decision taken at

complains the highest level a decision taken by the
letter of credit /letər əv kredt/
letter of credit
most important person or group 쐽 verb 왍
noun a document issued by a bank on be- to level off or to level out to stop rising or
half of a customer authorising payment to falling 쑗 Profits have levelled off over the
a supplier when the conditions specified last few years. 쑗 Prices are levelling out.
in the document are met. Abbreviation ‘…figures from the Fed on industrial pro-
L/C duction for April show a decline to levels
letter of indemnity /letər əv n
letter of indemnity
|
last seen in June 1984’ [Sunday Times]
demnti/ noun a letter promising pay- ‘…applications for mortgages are running
ment as compensation for a loss at a high level’ [Times]
letter of inquiry /letər əv n
letter of inquiry
|
‘…employers having got their staff back
kwaəri/ noun a letter from a prospec- up to a reasonable level are waiting until
the scope for overtime working is exhaust-
tive buyer to a supplier inquiring about ed before hiring’ [SydneyMorningHerald]
products and their prices 쑗 The letter of
level playing field /lev(ə)l pleŋ
level playing field
inquiry requested us to send our cata-

logues and price lists. 쑗 We received a fild/ noun a situation in which the same
letter of inquiry concerning possible rules apply for all competitors and none
trade discounts. of them has any special advantage over
the others
letter of intent /letər əv ntent/
letter of intent
leverage /livərd$/ noun 1. an influ-

| leverage
noun a letter which states what a compa-

ny intends to do if something happens ence which you can use to achieve an aim
쑗 He has no leverage over the chairman.
letter of reference /letər əv
letter of reference
2. a ratio of capital borrowed by a compa-

ref(ə)rəns/ noun a letter in which an em- ny at a fixed rate of interest to the compa-
ployer recommends someone for a new ny’s total capital 3. the act of borrowing
job money at fixed interest which is then used
letter of renunciation /letər əv r
letter of renunciation
|
to produce more money than the interest
nnsieʃ(ə)n/ noun a form sent with
|
paid
new shares, which allows the person who leveraged
leveraged buyout
buyout /livərd$d
has been allotted the shares to refuse to
baaυt/, leveraged takeover
accept them and so sell them to someone /livərd$d tekəυvə/ noun an act of
else buying all the shares in a company by bor-
letter post /letə pəυst/ noun a service
letter post
rowing money against the security of the

for sending letters or parcels shares to be bought. Abbreviation LBO
letter rate /letə ret/ noun postage
letter rate
‘…the offer came after management had

(calculated by weight) for sending a letter offered to take the company private
or a parcel 쑗 It is more expensive to send through a leveraged buyout for $825 mil-
a packet letter rate but it will get there lion’ [Fortune]
quicker. lever-arch file /livə ɑtʃ fal/ noun a
lever-arch file
letter scale /letə skel/ noun special

letter scale
type of ring binder, where you lift up one

small scales for weighing letters side of the rings with a lever, place the
letters of administration /letəz əv
letters of administration
document on the prongs of the other side

ədmnstreʃ(ə)n/ plural noun a letter
| and then close the rings together again
233 life annuity

levy /levi/ noun money which is de- license / las(ə)ns/ noun US spelling of
levy license
manded and collected by the government licence 쐽 verb to give someone official
왍 levies on luxury items taxes on luxury permission to do something for a fee, e.g.
items 쐽 verb to demand payment of a tax when a company allows another company
or an extra payment and to collect it 쑗 to to manufacture its products abroad 쑗 li-
levy a duty on the import of luxury items censed to sell beers, wines and spirits 쑗 to
쑗 The government has decided to levy a license a company to manufacture spare
tax on imported cars. 왍 to levy members parts 쑗 She is licensed to run an employ-
for a new club house to ask members of ment agency.
the club to pay for the new building licensed deposit-taker /las(ə)nst
licensed deposit-taker
‘…royalties have been levied at a rate of dpɒzt tekə/, licensed institution

|
12.5% of full production’ [Lloyd’s List] /las(ə)nst nsttjuʃ(ə)n/ noun a de-

|
liabilities /laəbltiz/ plural noun the

liabilities
| posit-taking institution which is licensed

debts of a business, including dividends to receive money on deposit from private
owed to shareholders 쑗 The balance sheet individuals and to pay interest on it, e.g. a
shows the company’s assets and liabili- building society, bank or friendly society.
ties. 왍 he was not able to meet his liabil- Abbreviation LDT
ities he could not pay his debts 왍 to dis- licensed premises /las(ə)nst
licensed premises
charge your liabilities in full to pay eve- premisz/ plural noun shop, restaurant
rything which you owe or public house which is licensed to sell
liability /laəblti/ noun 1. a legal re-
liability
|
alcohol
sponsibility for damage, loss or harm 쑗 licensee /las(ə)nsi/ noun a person
licensee
The two partners took out insurance to who has a licence, especially a licence to
cover employers’ liability. 왍 to accept li- sell alcohol or to manufacture something
ability for something to agree that you
licensing /las(ə)nsŋ/ adjective refer-
licensing
are responsible for something 왍 to refuse

liability for something to refuse to agree ring to licences 쑗 a licensing agreement
that you are responsible for something 2. 쑗 licensing laws
licensing agreement /las(ə)nsŋ ə
licensing agreement
responsibility for a payment such as the |
repayment of a loan 3. someone or some- !rimənt/ noun an agreement where a

thing which represents a loss to a person person or company is granted a licence to
or organisation 쑗 The sales director is an manufacture something or to use some-
alcoholic and has become a liability to thing, but not an outright sale
the company. licensing authorities /las(ə)nsŋ
licensing authorities
liable /laəb(ə)l/ adjective 1. 왍 liable

liable
ɔθɒrətiz/ noun local authorities which

|
for legally responsible for 쑗 The custom- have the right to grant licences to sell al-
er is liable for breakages. 쑗 The chair- cohol
man was personally liable for the compa- licensing hours /las(ə)nsŋ aυəz/
licensing hours
ny’s debts. 쑗 The garage is liable for plural noun the hours of the day when al-
damage to customers’ cars. 2. 왍 liable to cohol can be sold
which is officially due to be paid 쑗 goods licensing laws /las(ə)nsŋ lɔz/
licensing laws
which are liable to stamp duty 쑗 Employ- plural noun the laws which control when
ees’ wages are liable to tax. and where alcohol can be sold
libel / lab(ə)l/ noun an untrue written
libel
licensor /lasensə/ noun a person who

licensor
statement which damages someone’s licenses someone

character 왍 action for libel, libel action
lien /liən/ noun the legal right to hold
lien
case in a law court where someone says

that another person has written a libel 쐽 someone’s goods and keep them until a
verb 왍 to libel someone to damage some- debt has been paid
lieu /lju/ noun 왍 in lieu of instead of 왍
lieu
one’s character in writing

licence /las(ə)ns/ noun an official she was given two months’ salary in
licence
document which allows someone to do lieu of notice she was given two months’
something (NOTE: The US spelling is li- salary and asked to leave immediately
cense.) 왍 goods manufactured under life annuity /laf ənjuti/ noun an-
life annuity
licence goods made with the permission nual payments made to someone as long
of the owner of the copyright or patent as they are alive
life assurance 234

life assurance /laf əʃυərəns/ noun the first time in two decades, the oil ex-
life assurance
insurance which pays a sum of money porting countries got their act together,
when someone dies, or at an agreed date limited production and succeeded in push-
if they are still alive ing prices up’ [Financial Times]
limitation /lmteʃ(ə)n/ noun the act
limitation
life assured /laf əʃυəd/ noun the

life assured
|
|
person whose life has been covered by a of allowing only a specific quantity of
life assurance policy something 쑗 The contract imposes limita-
lifeboat operation /lafbəυt ɒpə
lifeboat operation
tions on the number of cars which can be
imported. 왍 limitation of liability the
| |
reʃ(ə)n/ noun actions taken to rescue of

a company (especially of a bank) which is fact of making someone liable for only a
in difficulties part of the damage or loss
limited /lmtd/ adjective restricted
limited
life expectancy /laf kspektənsi/

life expectancy
limited company /lmtd

limited company
noun the number of years a person is like-

ly to live kmp(ə)ni/ noun a company where each
life interest /laf ntrəst/ noun a sit-
life interest
shareholder is responsible for the compa-
uation where someone benefits from a ny’s debts only to the amount that he or
property as long as he or she is alive she has invested in the company. Limited
companies must be formed by at least 2
LIFO /lafəυ/ abbr last in first out
LIFO
directors. Abbreviation Ltd. Also called

light /lat/ adjective 1. not heavy, not
light
limited liability company

very busy or active 2. not having enough
limited liability /lmtd laəblti/
limited liability
of a certain type of share in a portfolio 쑗

|
noun a situation where someone’s liabili-

His portfolio is light in banks. ty for debt is limited by law
lighter /latə/ noun a boat used to take
lighter
limited liability company /lmtd

limited liability company
cargo from a cargo ship to shore

laəblti kmp(ə)ni/ noun same as
light industry /lat ndəstri/ noun an
light industry |
limited company
industry making small products such as
limited market /lmtd mɑkt/
limited market
clothes, books or calculators

noun a market which can take only a spe-
light pages /lat ped$z/ noun web
light pages
cific quantity of goods

pages that are less than 50KB in size,
limited partner /lmtd pɑtnə/
limited partner
which enables them to be downloaded

quickly noun a partner who is responsible for the
debts of the firm only up to the amount of
light pen /lat pen/ noun a type of
light pen
money which he or she has provided to

electronic pen that directs a beam of light the business
which, when passed over a bar code, can
limited partnership /lmtd
limited partnership
read it and send information back to a

computer pɑtnəʃp/ noun a registered business
where the liability of the partners is limit-
limit /lmt/ noun the point at which
limit
ed to the amount of capital they have each

something ends or the point where you
provided to the business and where the
can go no further 왍 to set limits to im- partners may not take part in the running
ports, to impose import limits to allow
only a specific amount of imports 쐽 verb of the business
limiting /lmtŋ/ adjective not allow-
limiting
1. to stop something from going beyond a

specific point, to restrict the number or ing something to go beyond a point, re-
amount of something 왍 the banks have stricting 쑗 a limiting clause in a contract
limited their credit the banks have al- 쑗 The short holiday season is a limiting
lowed their customers only a specific factor on the hotel trade.
amount of credit 왍 each agent is limited line /lan/ noun 1. a row of letters or fig-
line
to twenty-five units each agent is al- ures on a page 2. a series of things, one af-
lowed only twenty-five units to sell 2. to ter another 3. same as product line 4. US
restrict the number or amount of some- a row of people waiting one after the other
thing (NOTE: The UK term is queue.) 5. a short
‘…the biggest surprise of 1999 was the re- letter 6. 왍 the line is bad it is difficult to
bound in the price of oil. In the early hear clearly what someone is saying 왍 the
months of the year commentators were line is engaged the person is already
talking about a fall to $5 a barrel but for speaking on the phone 왍 the chairman is
235 list
on the other line the chairman is speak- uments by inserting links that enable us-
ing on his second telephone 7. a block of ers to move from one to the other
shares (traded on a Stock Exchange) 8. a liquid /lkwd/ adjective easily convert-
liquid
type of goods produced or sold by some- ed to cash, or containing a large amount

one of cash
‘…cash paid for overstocked lines, factory liquid assets /lkwd sets/ plural
liquid assets
seconds, slow sellers, etc.’ noun cash, or investments which can be

[Australian Financial Review] quickly converted into cash
line chart /lan tʃɑt/ noun a chart or
line chart
liquidate /lkwdet/ verb 왍 to liqui-

liquidate
graph using lines to indicate values date a company to close a company and
/lan sell its assets 왍 to liquidate a debt to pay
line management
line management
mnd$mənt/ noun the organisation of a debt in full 왍 to liquidate stock to sell
a company where each manager is restock to raise cash
sponsible for doing what their superior liquidation /lkwdeʃ(ə)n/ noun 1.
liquidation
tells them to do. Also called line organi- the sale of assets for cash 왍 liquidation of
sation a debt payment of a debt 2. the winding
line manager /lan mnd$ə/ noun a
line manager
up or closing of a company and selling of

manager responsible to a superior, but its assets 왍 the company went into liqui-
with authority to give orders to other em- dation the company was closed and its
ployees assets sold
line of business /lan əv bzns/ liquidator /lkwdetə/ noun a person
line of business liquidator
noun a type of business or work named to supervise the closing of a com-

line of command /lan əv kəmɑnd/
line of command
|
pany which is in liquidation
liquidity /lkwdti/ noun 1. cash, or
liquidity
noun an organisation of a business where |
each manager is responsible for doing the fact of having cash or assets which can
what his superior tells him to do be changed into cash 왍 liquidity crisis
line of credit /lan əv kredt/ noun 1.
line of credit
not having enough cash or other liquid as-
the amount of money made available to a sets 2. assets which can be changed into
customer by a bank as an overdraft 왍 to cash
liquidity ratio /lkwdti reʃiəυ/
liquidity ratio
open a line of credit or a credit line to |
make credit available to someone 2. the noun an accounting ratio used to measure
borrowing limit on a credit card an organisation’s liquidity. It is calculated
by taking the business’s current assets,
line of shares /lan əv ʃeəz/ noun a
line of shares
large block of shares sold as one deal on minus its stocks, divided by its current li-
abilities. Also called acid test ratio,
the stock exchange quick ratio
line organisation /lan ɔ!əna
line organisation
liquor licence /lkə las(ə)ns/ noun a

liquor licence
|
zeʃ(ə)n/ noun same as line manage- government document allowing someone

ment to sell alcohol
line printer /lan prntə/ noun a ma-
line printer
lira /lərə/ noun 1. a former unit of cur-

lira
chine which prints information from a rency in Italy 쑗 the book cost 2,700 lira or
computer, printing one line at a time (the L2,700 (NOTE: Lira is usually written L
quality is not as good as laser printers or before figures: L2,700.) 2. a unit of cur-
inkjet printers but line printers are the rency used in Turkey
only type which print on multipart sta-
list /lst/ noun 1. several items written
list
tionery)
one after the other 쑗 They have an attrac-
link /lŋk/ verb to join or to attach to
link
tive list of products or product list. 쑗 I

something else 쑗 to link pensions to infla- can’t find that item on our stock list. 쑗
tion 쑗 to link bonus payments to produc- Please add this item to the list. 쑗 She
tivity 쑗 His salary is linked to the cost of crossed the item off her list. 2. a catalogue
living. 쒁 index-linked 쐽 noun 1. same as 쐽 verb to write a series of items one after
hyperlink 2. a connection or connecting the other 쑗 to list products by category 쑗
device to list representatives by area 쑗 to list
linking /lŋkŋ/ noun the process of
linking
products in a catalogue 쑗 The catalogue

connecting two or more websites or doc- lists ten models of fax machine.
listed company 236

listed company /lstd kmp(ə)ni/ Lloyd’s Register / lɔdz red$stə/
listed company Lloyd’s Register
noun a company whose shares can be noun a classified list showing details of
bought or sold on the Stock Exchange all the ships in the world and estimates of
listed securities /lstd skjυərtiz/ their condition
listed securities
plural noun shares which can be bought Lloyd’s underwriter /lɔdz

Lloyd’s underwriter
or sold on the Stock Exchange, shares ndəratə/ noun a member of an insur-

which appear on the official Stock Ex- ance group at Lloyd’s who accepts to un-
change list derwrite insurances
listing details /lstŋ ditelz/ plural load / ləυd/ noun an amount of goods
listing details load
noun 1. details of a company which are which are transported in a particular vehi-
published when the company applies for a cle or aircraft 왍 the load of a lorry or of
stock exchange listing (the US equivalent a container the goods carried by a lorry
is the ‘registration statement’) 2. details or in a container 왍 maximum load the
of the institutions which are backing an largest weight of goods which a lorry or
issue plane can carry 쐽 verb 1. 왍 to load a lor-
listing paper /lstŋ pepə/ noun pa- ry, a ship to put goods into a lorry or a
listing paper
per made as a long sheet, used in compu- ship for transporting 쑗 to load cargo onto
ter printers a ship 쑗 a truck loaded with boxes 쑗 a
listing particulars /lstŋ pə
listing particulars
|
ship loaded with iron 왍 a fully loaded
tkjυləz/ plural noun same as listing ship a ship which is full of cargo 2. (of a
details ship) to take on cargo 쑗 The ship is load-
list price /lst pras/ noun the price for
list price
ing a cargo of wood. 3. to put a program
something as given in a catalogue into a computer 쑗 Load the word-
processing program before you start key-
literature /lt(ə)rətʃə/ noun written in-
literature
boarding. 4. to add extra charges to a

formation about something 쑗 Please send price
me literature about your new product
load-carrying capacity /ləυd
load-carrying capacity
range.
kriŋ kəpsti/ noun the amount of
litigant /lt!ənt/ noun a person who
litigant |
goods which a lorry is capable of carrying

brings a lawsuit against someone
loaded price /ləυdd pras / noun a
loaded price
litigation /lt!eʃ(ə)n/ noun the

litigation
price which includes an unusually large

|
bringing of a lawsuit against someone

extra payment for some service 쑗 That
litre /litə/ noun a measure of liquids
litre
company is notorious for loading its pric-

(NOTE: The US spelling is liter.) 왍 the es.
car does fifteen kilometres to the litre,
load factor /ləυd fktə/ noun a
load factor
fifteen kilometres per litre the car uses

one litre of petrol to travel fifteen kilome- number of seats in a bus, plane or train
tres which are occupied by passengers who
have paid the full fare
lively /lavli/ adjective 왍 lively market
lively
loading /ləυdŋ/ noun the process of

loading
an active stock market, with many shares

being bought or sold assigning work to workers or machines 쑗
The production manager has to ensure
livery /lvəri/ noun a company’s own
livery
that careful loading makes the best use of

special design and colours, used e.g. on human resources.
uniforms, office decoration and vehicles
loading bay /ləυdŋ be/ noun a sec-
loading bay
living wage /lvŋ wed$ / noun he

living wage
tion of road in a warehouse, where lorries

does not earn enough to pay for essentials can drive in to load or unload
(food, heat, rent)
loading dock /ləυdŋ dɒk/ noun the
loading dock
Lloyd’s /lɔdz/ noun the central London

Lloyd’s
part of a harbour where ships can load or

insurance market
COMMENT: Lloyd’s is an old-established
unload
loading ramp /ləυdŋ rmp/ noun a
loading ramp
insurance market. The underwriters who

form Lloyd’s are divided into syndicates, raised platform which makes it easier to
each made up of active underwriters load goods onto a lorry
who arrange the business and non-work-
load line /ləυd lan/ noun a line paint-
load line
ing underwriters (called ‘names’) who

stand surety for any insurance claims ed on the side of a ship to show where the
which may arise. water should reach for maximum safety if
237 lock-out
the ship is fully loaded (NOTE: also called local currency /ləυk(ə)l krənsi/
local currency
Plimsoll line on British ships) noun the currency of a particular country

loan /ləυn/ noun money which has been where a transaction is being carried out 쑗
loan
lent 쐽 verb to lend something 쑗 The truck Because of the weakness of the local cur-
has been loaned by the local haulage rency, all payments are in dollars.
company. local government /ləυk(ə)l
local government
‘…over the last few weeks, companies !v(ə)nmənt/ noun elected authorities
raising new loans from international banks and administrative organisations which
have been forced to pay more, and an unu- deal with the affairs of small areas of a
sually high number of attempts to syndi- country
cate loans among banks has failed’ localisation
localisation
/!ləυkəlazeʃ(ə)n/
|
[Financial Times]
noun 1. the process of restricting some-
loan capital /ləυn kpt(ə)l/ noun a
loan capital
thing to a particular area or adapting it for

part of a company’s capital which is a use in a particular area 2. the translation
loan to be repaid at a later date of a website into a language or idiom that
loan shark /ləυn ʃɑk/ noun a person
loan shark
can be easily understood by the target

who lends money at a very high interest user
rate local labour /ləυk(ə)l lebə / noun
local labour
loan stock /ləυn stɒk/ noun stock is-

loan stock
workers who are recruited near a factory,

sued by a company at a fixed rate of inter- and are not brought there from a distance
est, as a means of raising a loan locally /ləυk(ə)li/ adverb in the area
locally
lobby /lɒbi/ noun a group of people

lobby
near where an office or factory is based 쑗

who try to influence MPs, members of We recruit all our staff locally.
town councils, etc. 왍 the energy-saving local press /ləυk(ə)l pres/ noun
local press
lobby people who try to persuade MPs to newspapers which are sold in a small area
pass laws to save energy 쐽 verb to try to of the country 쑗 The product was only ad-
influence members of parliament, mem- vertised in the local press as it was only
bers of town councils, etc. 쑗 The group being distributed in that area of the coun-
lobbied the chairmen of all the commit- try.
tees.
local time /ləυk(ə)l tam/ noun the
local time
local /ləυk(ə)l/ adjective located in or

local
providing a service for a restricted area 쐽 time in the country where something is
noun US a branch of a national trade un-
happening 쑗 If it is 12.00 noon in London,
it will be 5 o’clock in the morning local
ion time.
‘…each cheque can be made out for the lo-
locate /ləυket/ verb 왍 to be located to
locate
cal equivalent of £100 rounded up to a |
convenient figure’ [Sunday Times] be in a certain place 쑗 The warehouse is

‘…the business agent for Local 414 of the located near to the motorway.
Store Union said his committee will rec- lock up phrasal verb 1. 왍 to lock up a
ommend that the membership ratify the shop, an office to close and lock the
agreement’ [Toronto Star] door at the end of the day’s work 2. 왍 to
‘EC regulations insist that customers can lock up capital to have capital invested
buy cars anywhere in the EC at the local in such a way that it cannot be used for
pre-tax price’ [Financial Times] other investments
local area network /ləυk(ə)l eəriə locking up /lɒkŋ p/ noun 왍 the
local area network locking up
netw&k/ noun a network of computers locking up of money in stock the act of

and associated devices such as printers investing money in stock so that it cannot
linked by cable in an area and able to be used for other, possibly more profita-
share resources. Abbreviation LAN ble, investments
local authority /ləυk(ə)l ɔθɒrti/ lockout /lɒkaυt/ noun an industrial
local authority lockout
noun an elected section of government dispute where the management will not
which runs a small area of the country let the workers into the factory until they
local call /ləυk(ə)l kɔl/ noun a tele- have agreed to the management’s condi-
local call
phone call to a number on the same ex- tions

lock-out /lɒk aυt/ noun 왍 to lock out
lock-out
change as your own or to one on a neigh-

bouring exchange workers to shut the factory door so that
lock-up premises 238

workers cannot get in and so force them long-dated bill /lɒŋ detd bl/
long-dated bill
not to work until the conditions imposed noun a bill which is payable in more than
by the management are met three months’ time
/lɒk p long-dated stocks /lɒŋ detd
lock-up premises
lock-up premises
long-dated stocks
premsz/ plural noun a shop or other stɒks/ plural noun same as longs
commercial building which has no living long-distance /lɒŋ dstəns/ adjec-
long-distance
accommodation and which the proprietor tive 왍 long-distance flight flight to a des-
locks at night when it is closed tination which is a long way away
lock-up shop / lɒkp ʃɒp/, lock-up
lock-up shop
long-distance call /lɒŋ dstəns

long-distance call
premises /premsz/ noun same as kɔl/ noun a telephone call to a number

lock-up premises which is not near
lodge /lɒd$/ verb 왍 to lodge a com-
lodge
longhand /lɒŋhnd/ noun handwrit-

longhand
plaint against someone to make an offi- ing where the words are written out in full
cial complaint about someone 왍 to lodge and not typed or in shorthand 쑗 Applica-
money with someone to deposit money tions should be written in longhand and
with someone 왍 to lodge securities as sent to the human resources manager.
collateral to put securities into a bank to
long-haul flight / lɒŋ hɔl flat/ noun
long-haul flight
be used as collateral for a loan

long-distance flight, especially one be-
log /lɒ!/ verb to write down all that hap-
log
tween continents
pens 왍 to log phone calls to note all de- long lease /lɒŋ lis/ noun a lease
long lease
tails of phone calls made which runs for fifty years or more 쑗 to
‘I have just been trying to log onto a web- take an office building on a long lease
site for one hour – from 8.00 am to 9.00
long-range /lɒŋ rend$/ adjective for
long-range
am – to buy some shares. Their server just

can’t cope with the Monday morning rush a long period of time in the future 왍 long-
to buy’ [Investors Chronicle] range economic forecast a forecast
log off phrasal verb to stop work on a which covers a period of several years
longs /lɒŋz/ plural noun government
longs
computer program and close down the

program (NOTE: logging – logged) stocks which will mature in over fifteen
log on phrasal verb to start a computer years’ time. Also called long-dated
program by entering a password, and stocks
various other instructions long-standing /lɒŋ stndŋ/ adjec-
long-standing
logistics /ləd$stks/ noun the task or tive which has been arranged for a long
logistics
science of managing the movement, stor- time 쑗 a long-standing agreement 왍

age, and processing of materials and in- long-standing customer, customer of
formation in a supply chain (NOTE: Logis- long standing a person who has been a
tics includes the acquisition of raw mate- customer for many years
rials and components, manufacturing or long-term /lɒŋ t&m/ adjective 쑗 The
long-term
processing, and the distribution of fin- management projections are made on a

ished products to the end user.) long-term basis. 쑗 Sound long-term plan-
logo /ləυ!əυ/ noun a symbol, design or ning will give the company more direc-
logo
group of letters used by a company as a tion. 쑗 It is in the company’s long-term

mark on its products and in advertising interests to have a contented staff. 왍 on a
long-term basis continuing for a long pe-
London gold fixing /lndən !əυld
London gold fixing
riod of time 왍 long-term debts debts

fksŋ/ noun a system where the world which will be repaid many years later 왍
price for gold is set each day in London
long-term forecast a forecast for a period
long /lɒŋ/ adjective for a large period of of over three years 왍 long-term loan a
long
time 왍 in the long term over a long peri- loan to be repaid many years later 왍 long-
od of time 왍 to take the long view to plan term objectives aims which will take
for a long period before current invest- years to achieve
ment becomes profitable ‘…land held under long-term leases is not
long credit /lɒŋ kredt/ noun credit
long credit
amortized’ [Hongkong Standard]

terms which allow the borrower a long ‘…the company began to experience a de-
time to pay mand for longer-term mortgages when the
239 loss of office

flow of money used to finance these loans puters. 쑗 We lost out to a Japanese
diminished’ [Globe and Mail (Toronto)] company who put in a lower tender for
long-term unemployed /lɒŋ t&m the job.
long-term unemployed
nmplɔd/ noun people who have been

|
loss /lɒs/ noun 1. the state or process of
loss
out of work for more than a year not having something any more 왍 loss of
long ton /lɒŋ tn/ noun a measure of
long ton
customers not keeping customers be-

weight (= 1016 kilos) cause of bad service, high prices, etc. 왍
loophole /luphəυl/ noun 왍 to find a loss of an order not getting an order
loophole
loophole in the law to find a means of le- which was expected 왍 the company suf-
gally avoiding the law 왍 to find a tax fered a loss of market penetration the
loophole to find a means of legally not company found it had a smaller share of
paying tax the market 2. the state of having less mon-
‘…because capital gains are not taxed but ey than before or of not making a profit 왍
money taken out in profits is taxed, owners the company suffered a loss the compa-
of businesses will be using accountants ny did not make a profit 왍 to report a loss
and tax experts to find loopholes in the not to show a profit in the accounts at the
law’ [Toronto Star] end of the year 쑗 The company reported a
loose /lus/ adjective not packed togeth- loss of £1m on the first year’s trading. 왍
loose
er 왍 to sell loose potatoes, to sell pota- the car was written off as a dead loss or
toes loose to sell potatoes in quantities a total loss the car was so badly damaged
which are separately weighed, not in pre- that the insurers said it had no value 왍 at
viously weighed packets a loss making a loss, not making any prof-
loose change /lus tʃend$/ noun
loose change
it 쑗 The company is trading at a loss. 쑗
money in coins We sold the shop at a loss. 왍 to cut your
loose-leaf book /lus lif bυk/ noun
loose-leaf book
losses to stop doing something which is
a book with loose pages which can be tak- losing money 3. the state of being worth
en out and fixed back in again on rings less or having a lower value 쑗 Shares
showed losses of up to 5% on the Stock
lorry /lɒri/ noun a large motor vehicle
lorry
Exchange. 4. the state of weighing less 왍

for carrying goods 쑗 he drives a five-ton loss in weight goods which weigh less
lorry
than when they were packed 왍 loss in
lorry-load / lɒri ləυd/ noun the amount
lorry-load
transport the amount of weight which is

of goods carried on a lorry or in a contain- lost while goods are being transported 5.
er 쑗 They delivered six lorry-loads of damage to property or destruction of
coal. property, which is then subject to an in-
lose /luz/ verb 1. not to have something surance claim 왍 the cargo was written
lose
any more 왍 to lose an order not to get an off as a total loss the cargo was so badly
order which you were hoping to get 쑗 damaged that the insurers said it had no
During the strike, the company lost six or- value
ders to American competitors. 왍 to lose ‘…against losses of FFr 7.7m two years
control of a company to find that you ago, the company made a net profit of FFr
have less than 50% of the shares and so 300,000 last year’ [Financial Times]
are no longer able to control the company loss adjuster /lɒs əd$stə/ noun a
loss adjuster
왍 to lose customers to have fewer cus-

|
person who calculates how much insur-

tomers 쑗 Their service is so slow that they ance should be paid on a claim
have been losing customers. 왍 she lost
loss-leader /lɒs lidə/ noun an article
loss-leader
her job when the factory closed she was

made redundant 2. to have less money 쑗 which is sold at a loss to attract customers
쑗 We use these cheap films as a loss-lead-
He lost £25,000 in his father’s computer
company. 3. to drop to a lower price 쑗 er.
loss of earnings /lɒs əv &nŋz/ plu-
loss of earnings
The dollar lost two cents against the yen.

쑗 Gold shares lost 5% on the market yes- ral noun payment to someone who has
terday. 왍 the pound has lost value the stopped earning money or who is not able
pound is worth less to earn money
loss of office /lɒs əv ɒfs/ noun pay-
loss of office
lose out phrasal verb to suffer as a re-

sult of something 쑗 The company has ment to a director who is asked to leave a
lost out in the rush to make cheap com- company before his contract ends
lot 240
lot /lɒt/ noun 1. a large quantity 쑗 a lot
lot
very good quality 쑗 The car runs best on

of people or lots of people are out of work low-grade petrol.
low-level /ləυ lev(ə)l/ adjective not
low-level
2. a group of items sold together at an

auction 쑗 to bid for lot 23 쑗 At the end of very important 쑗 A low-level delegation
the auction half the lots were unsold. 3. a visited the ministry. 쑗 A low-level meeting
group of shares which are sold 쑗 to sell a decided to put off making a decision.
lot of shares 쑗 to sell shares in small lots low-level computer language /ləυ
low-level computer language
4. US a piece of land, especially one to be lev(ə)l kəmpjutə lŋ!wd$/ noun

|
used for redevelopment 쑗 They bought a programming language similar to ma-

lot and built a house. chine code
lottery /lɒtəri/ noun a game where low-pressure /ləυ preʃə/ adjective 왍
lottery low-pressure
numbered tickets are sold and prizes giv- low-pressure sales sales where the sales-
en for some of the numbers person does not force someone to buy, but
low / ləυ/ adjective not high or not much
low
only encourages them to do so
low-quality /ləυ kwɒlti/ adjective
low-quality
쑗 Low overhead costs keep the unit cost

low. 쑗 We try to keep our wages bill low. not of good quality 쑗 They tried to sell us
쑗 The company offered him a mortgage at some low-quality steel.
low season /ləυ siz(ə)n/ noun a pe-
low season
a low rate of interest. 쑗 The pound is at a

very low rate of exchange against the dol- riod when there are few travellers 쑗 Air
lar. 왍 low volume of sales small number fares are cheaper in the low season.
of items sold 쐽 noun a point where prices loyal /lɔəl/ adjective 1. always buying
loyal
or sales are very small 쑗 the highs and the same brand or using the same shop 쑗
lows on the stock market 쑗 Sales have The aim of the advertising is to keep the
reached a new low. 왍 highs and lows on customers loyal. 2. referring to an em-
the Stock Exchange a list of shares ployee who supports the company they
which have reached a new high or low work for (NOTE: You are loyal to some-
price in the previous day’s trading 왍 one or something.)
shares have hit an all-time low shares loyalty /lɔəlti/ noun the state of being
loyalty
have reached their lowest price ever faithful to someone or something

‘…after opening at 79.1 the index touched Ltd abbr limited company
Ltd
a peak of 79.2 and then drifted to a low of lull /ll/ noun a quiet period 쑗 After last
lull
78.8’ [Financial Times] week’s hectic trading this week’s lull was
‘…the pound which had been as low as welcome.
$1.02 earlier this year, rose to $1.30’ [For- lump /lmp/ noun 왍 the Lump, Lump
lump
tune] labour self-employed workers who are

lower /laυə/ adjective smaller or less
lower
paid a lump sum for a day’s work or for

high 쑗 a lower rate of interest 쑗 Sales the amount of work completed (often
were lower in December than in Novem- with a view to avoiding tax)
ber. 쐽 verb to make something smaller or lump sum /lmp sm/ noun money
lump sum
less expensive 쑗 to lower prices to secure paid in one single amount, not in several
a larger market share 쑗 Industrialists small sums 쑗 When he retired he was giv-
have asked the bank to lower interest en a lump-sum bonus. 쑗 She sold her
rates. house and invested the money as a lump
‘Canadian and European negotiators sum.
agreed to a deal under which Canada could luncheon voucher /lnʃtən
luncheon voucher
keep its quotas but lower its import duties’ vaυtʃə/ noun a ticket given by an em-
[Globe and Mail (Toronto)] ployer to an employee in addition to their
lowering /ləυərŋ/ noun the act of
lowering
wages, which can be exchanged for food

making smaller or less expensive 쑗 Low- in a restaurant
ering the prices has resulted in increased lunch hour /lntʃ aυə/, lunchtime
lunch hour
sales. 쑗 We hope to achieve low prices /lntʃtam/ noun the time when people
with no lowering of quality. have lunch 쑗 the office is closed during
low-grade /ləυ !red/ adjective 1. not the lunch hour or at lunchtimes
low-grade
very important 쑗 a low-grade official luxury /lkʃəri/ noun, adjective refer-

luxury
from the Ministry of Commerce 2. not of ring to an expensive thing which is not
241 macroeconomics
necessary but which is good to have 쑗 a luxury goods /lkʃəri !υdz/, luxury
luxury goods
black market in luxury articles 쑗 Luxury items /lkʃəri atəmz/ plural noun ex-
items are taxed very heavily. pensive items which are not basic neces-
sities
M
machine /məʃin/ noun a device
m machine
m abbr 1. metre 2. mile 3. million |
M0 /em nɔt/ symbol the narrowest

M0
which works with power from a motor
machine code / məʃin kəυd/ noun
machine code
British measure of money supply, includ- |
ing coins and notes in circulation plus the instructions and information shown as a
deposits of commercial banks with the series of figures (0 and 1) which can be
Bank of England read by a computer
machine-made /məʃin med/ adjec-
machine-made
‘Bank of England calculations of notes in |
circulation suggest that the main compo- tive manufactured by a machine, not by
nent of the narrow measure of money sup- people
ply, M0, is likely to have risen by 0.4 per machine-readable code /məʃin
machine-readable code
cent after seasonal adjustments’ [Times] ridəb(ə)l kəυd/ noun a set of signs or
M1 /em wn/ symbol a measure of
M1
letters (such as a bar code or post code)

money supply, including all coins and which can be read by computers
notes plus personal money in current ac- machinery /məʃinəri/ noun 1. ma-
machinery
counts chines 2. an organisation or a system 쑗

M2 /em tu/ symbol a measure of mon- the local government machinery or the
M2
ey supply, including coins and notes and machinery of local government is slow to
personal money in current and deposit ac- act 쑗 the administrative machinery of a
counts university 쑗 the machinery for awarding
M3 /em θri/ symbol a broad measure
M3
government contracts 쑗 The administra-
of money supply, including M2 and per- tive machinery needs reviewing.
machinery guard /məʃinəri !ɑd/
machinery guard
sonal money in government deposits and |
deposits in currencies other than sterling noun a piece of metal to prevent workers
(in the US, it includes time deposits of from getting hurt by the moving parts of a
more than $100,000 and money market machine
machine shop /məʃin ʃɒp/ noun a
machine shop
funds and Eurodollars held by US resi- |
dents) place where working machines are placed

machine tool / məʃin tul/ noun a
machine tool
£M3
£M3 symbol a British measure of sterling |
money supply, including coins and notes, tool worked by a motor, used to work on
personal money in current and deposit ac- wood or metal
machinist /məʃinst/ noun a person
machinist
counts and government deposits |
Maastricht Treaty /mɑstrkt triti/

Maastricht Treaty
who operates a machine
macro- /mkrəυ/ prefix very large,
macro-
noun a treaty signed in 1992 which sets

out the principles for a European Union covering a wide area
macroeconomics /mkrəυikə
macroeconomics
and the convergence criteria for states |
wishing to join the EMU nɒmks/ plural noun a study of the eco-
Macromedia Flash™ 242

nomics of a whole area, a whole industry, to buy the list of members so that you can
a whole group of the population or a use it to mail publicity material
whole country, in order to help in eco- mailing list /melŋ lst/ noun a list of
mailing list
nomic planning. Compare microeco- names and addresses of people who might
nomics (NOTE: takes a singular verb) be interested in a product, or a list of
Macromedia Flash™ noun a trade
Macromedia Flash™
names and addresses of members of a so-

name for a type of animation software ciety 쑗 to build up a mailing list 쑗 Your
used on the Web, which is characterised name is on our mailing list.
by small file sizes, easy scaleability and mailing piece /melŋ pis/ noun a
mailing piece
the use of streaming technology leaflet suitable for sending by direct mail
Madam /mdəm/ noun a formal way
Madam
mailing tube /melŋ tjub/ noun a

mailing tube
of addressing a woman, especially one stiff cardboard or plastic tube, used for
whom you do not know 왍 Dear Madam mailing large pieces of paper such as
beginning of a letter to a woman whom posters
you do not know
mail merge /mel m&d$/ noun a
mail merge
Madam Chairman /mdəm

Madam Chairman
word-processing program that allows a

tʃeəmən/, Madam Chairwoman standard form letter to be printed out to a
/mdəm tʃeəwυmən/ noun a way of
|
series of different names and addresses
speaking to a female chairman of a com-
mail order /mel ɔdə/ noun a system
mail order
mittee or meeting
made / med/ adjective produced or
made of buying and selling from a catalogue,
placing orders and sending goods by mail
manufactured 쑗 made in Japan or Japa- 쑗 We bought our kitchen units by mail or-
nese made 쒁 make
der.
made-to-measure /med tə me$ə /
made-to-measure
mail-order business /mel ɔdə

mail-order business
adjective made to fit the requirements of

the customer 쑗 made-to-measure kitchen bzns/ noun a company which sells its
cabinets 쑗 a made-to-measure suit products by mail
mail-order catalogue /mel ɔdə
mail-order catalogue
magazine mailing /m!əzin

magazine mailing
kt(ə)lɒ!/ noun a catalogue from which

|
melŋ/ noun the sending of copies of a

magazine by post to subscribers a customer can order items to be sent by
mail
magnate /m!net/ noun an impor-
magnate
mail-order selling /mel ɔdə selŋ/

mail-order selling
tant businessman 쑗 a shipping magnate

noun a method of selling in which orders
magnetic card /m!netk kɑd/
magnetic card
noun plastic card with a strip of magnetic

are taken and products are delivered by
recording material on its surface, allow- mail
mail room /mel rum/ noun a section
mail room
ing data to be stored and used

magnetic strip /m! netk strp/,
magnetic strip
|
of a building where incoming letters are
magnetic stripe /m!netk strap/
|
sorted and distributed to departments
mail shot /mel ʃɒt/ noun leaflets sent
mail shot
noun a black strip on credit cards and

cashpoint cards, on which personal infor- by post to possible customers
main /men/ adjective most important 쑗
main
mation about the account is recorded

mail box /mel bɒks/ noun 1. one of main office 쑗 main building 쑗 one of our
mail box
several boxes where incoming mail is put main customers 쑗 The main building
in a large building 2. a number where houses our admin and finance depart-
email messages are received 3. a box ments.
where letters which are being sent are put mainframe /menfrem/ noun a large
mainframe
to be collected 4. an area of a computer computer 쑗 The office PCs interface with

memory where emails are stored the mainframe computer in the company
mailer /melə/ noun packaging made of headquarters.
mailer
folded cardboard, used to mail items mainstream

mainstream corporation tax
corporation tax
which need protection 쑗 a diskette mailer /menstrim kɒpəreʃ(ə)n tks/
|
mailing /melŋ/ noun the sending of

mailing
noun the total tax paid by a company on

something by post 쑗 the mailing of pub- its profits less any advance corporation
licity material 왍 to buy a mailing list to tax, which a company has already paid
pay a society or other organisation money when distributing profits to its sharehold-
243 make
ers in the form of dividends. Abbreviation cept the proposal and two voted against
MCT accepting it 2. the number of votes by
Main Street /men strit/ noun US the
Main Street
which a person wins an election 쑗 He was
most important street in a town, where the elected shop steward with a majority of
shops and banks usually are three hundred.
maintain /menten/ verb 1. to keep majority interest /məd$ɒrti
majority interest
maintain
|
|
something going or working 쑗 We try to ntrəst/ noun a situation where someone

maintain good relations with our custom- owns a majority or a minority of shares in
ers. 쑗 Her trip aims to maintain contact a company 쑗 He has a majority interest in
with her important overseas markets. 2. a supermarket chain.
majority shareholder /məd$ɒrəti
majority shareholder
to keep something working at the same |
level 쑗 to maintain an interest rate at 5% ʃeəhəυldə/ noun a person who owns

쑗 The company has maintained the same more than half the shares in a company
volume of business in spite of the reces- majority shareholding /məd$ɒrəti
majority shareholding
sion. 왍 to maintain a dividend to pay the

|
ʃeəhəυldŋ/ noun a group of shares

same dividend as the previous year which are more than half the total
maintenance /mentənəns/ noun 1. majority vote /məd$ɒrti vəυt/, ma-
maintenance
majority vote
the process of keeping things going or jority decision /məd$ɒrti ds$(ə)n/

| |
working 쑗 Maintenance of contacts is im- noun a decision which represents the

portant for a sales rep. 쑗 It is essential to wishes of the largest group as shown by a
ensure the maintenance of supplies to the vote
factory. 2. the process of keeping a ma- make /mek/ noun a brand or type of
make
chine in good working order 쑗 We offer a product manufactured 쑗 Japanese makes

full maintenance service. of cars 쑗 a standard make of equipment 쑗
‘…responsibilities include the mainte- What make is the new computer system or
nance of large computerized databases’ What’s the make of the new computer sys-
[Times] tem? 쐽 verb 1. to produce or to manufac-
‘…the federal administration launched a ture 쑗 The employees spent ten weeks
full-scale investigation into the airline’s making the table. 쑗 The factory makes
maintenance procedures’ [Fortune] three hundred cars a day. 2. to earn mon-
maintenance contract
maintenance contract
ey 쑗 He makes £50,000 a year or £25 an

/mentənəns kɒntrkt/ noun a con- hour. 3. to increase in value 쑗 The shares
tract by which a company keeps a piece of made $2.92 in today’s trading. 4. 왍 to
equipment in good working order make a profit to have more money after
majeure /m$&/ 쏡 force majeure a deal 왍 to make a loss to have less mon-
majeure
major /med$ə/ adjective important 쑗

major
ey after a deal 왍 to make a killing to

There is a major risk of fire. 왍 major make a very large profit
shareholder a shareholder with a large make good phrasal verb 1. to repair 쑗
number of shares The company will make good the dam-
‘…if the share price sinks much further the age. 2. to be a success 왍 a local boy
company is going to look tempting to any made good local person who has be-
major takeover merchant’ [Australian come successful
Financial Review] make out phrasal verb to write some-
‘…monetary officials have reasoned that thing 쑗 to make out an invoice 쑗 The
coordinated greenback sales would be able bill is made out to Smith & Co. 왍 to
to drive the dollar down against other ma- make out a cheque to someone to write
jor currencies’ [Duns Business Month] someone’s name on a cheque
‘…a client base which includes many ma- make over phrasal verb to transfer
jor commercial organizations and nation- property legally 쑗 to make over the
alized industries’ [Times] house to your children
majority /məd$ɒrti/ noun 1. more
majority
| make up phrasal verb 1. to compen-

than half of a group 왍 majority of the sate for something 왍 to make up a loss
shareholders more than 50% of the or difference to pay extra so that the
shareholders 왍 the board accepted the loss or difference is covered 2. 왍 to
proposal by a majority of three to two make up accounts to complete the ac-
three members of the board voted to accounts
maker 244
make up for phrasal verb to compen- pany faces are too large to be
sate for something 쑗 to make up for a manageable by one person.
short payment or for a late payment 왍 to managed fund /mnd$d fnd/
managed fund
make up for a short order to send noun a unit trust fund which is invested in
items which were missing in the origi- specialist funds within the group and can
nal order 왍 to make up for a late pay- be switched from one specialised invest-
ment to pay more than is owed because ment area to another
the payment is late
/ mnd$d
managed hosting
managed hosting
maker /mekə/ noun a person or com-
maker
həυstŋ/ noun a hosting option in which

pany which makes something 쑗 a major the hosting company is mainly responsi-
car maker 쑗 a furniture maker ble for a client’s servers, often supplying
make-ready time /mek redi tam/
make-ready time
and managing not only the hardware but

noun a time to get a machine ready to the software as well
start production management /mnd$mənt/ noun
management
making /mekŋ/ noun the production

making
1. the process of directing or running a

of an item 쑗 Ten tons of concrete were business 쑗 a management graduate or a
used in the making of the wall. graduate in management 쑗 She studied
maladministration /mlədmn
maladministration
| |
management at university. 쑗 Good man-
streʃ(ə)n/ noun incompetent adminis- agement or efficient management is es-
tration sential in a large organisation. 쑗 Bad
malfunction /mlfŋkʃən/ noun the
malfunction
| management or inefficient management

fact of not working properly 쑗 The data can ruin a business. 2. a group of manag-
was lost due to a software malfunction. 쐽 ers or directors 쑗 The management has
verb not to work properly 쑗 Some of the decided to give everyone a pay increase.
keys on the keyboard have started to mal- (NOTE: Where management refers to a
function. group of people it is sometimes followed
man /mn/ noun a male worker, espe- by a plural verb.)
man
cially a manual worker without special ‘…the management says that the rate of
skills or qualifications 쑗 All the men went loss-making has come down and it expects
back to work yesterday. 쐽 verb to provide further improvement in the next few years’
the workforce for something 쑗 It takes six [Financial Times]
workers to man a shift. 쑗 We need volun- management accountant
management accountant
teers to man the exhibition on Sunday. 쑗 /mnd$mənt əkaυntənt/ noun an ac-
|
The exhibition stand was manned by three countant who prepares financial informa-
salesgirls. (NOTE: manning – manned. tion for managers so that they can take de-
Note also to man does not mean only cisions
using men) management accounts
management accounts
manage /mnd$/ verb 1. to direct or
manage
/mnd$mənt əkaυnts/ plural noun fi-

|
to be in charge of something 쑗 to manage nancial information prepared for a man-

a branch office 쑗 A competent and moti- ager so that decisions can be made, in-
vated person is required to manage an im- cluding monthly or quarterly financial
portant department in the company. 2. 왍 statements, often in great detail, with
to manage property to look after rented analysis of actual performance against the
property for the owner 3. 왍 to manage to budget
to be able to do something 쑗 Did you
management buyin /mnd$mənt
management buyin
manage to see the head buyer? 쑗 She ban/ noun the purchase of a subsidiary
managed to write six orders and take
three phone calls all in two minutes. company by a group of outside directors.
Abbreviation MBI
‘…the research director will manage and management buyout
direct a team of graduate business analysts management buyout

reporting on consumer behaviour through- /mnd$mənt baaυt/ noun the takeo-
out the UK’ [Times] ver of a company by a group of employ-
manageable /mnd$əb(ə)l/ adjec- ees, usually senior managers and direc-
manageable
tive which can be dealt with 쑗 The inter- tors. Abbreviation MBO
management by exception
est payments, though high, are still man- management by exception

ageable. 쑗 The problems which the com- /mnd$mənt ba ksepʃən/ noun a |
245 managerialism
management system whereby deviations management team /mnd$mənt
management team
from plans are located and corrected tim/ noun all the managers who work in
a particular company
management by objectives
management by objectives
/mnd$mənt ba əbd$ektvz/ noun a
management theorist
|
management theorist
way of managing a business by planning /mnd$mənt θərst/ noun a person
work for the managers to do and testing if who develops original ideas and theories
it is completed correctly and on time about the work of managers, usually on
the basis of academic research or practi-
management by walking around
management by walking around

/mnd$mənt ba wɔkŋ əraυnd/ |
cal experience, and publishes them in
noun a way of managing where the man- books or journals
ager moves round the office or shop floor, management trainee
management trainee
discusses problems with the staff and /mnd$mənt treni/ noun a young
|
learns from them. Abbreviation MBWA member of staff who is being trained to be
a manager
management committee
management committee
/mnd$mənt kəmti/ noun a commit-
management training
|
management training
tee which manages something such as a /mnd$mənt trenŋ/ noun the proc-
club or a pension fund ess of training staff to be managers, by
making them study problems and work
management consultant
management consultant
/mnd$mənt kənsltənt/ noun a per-
|
out solutions
son who gives advice on how to manage a manager / mnd$ə/ noun 1. the head
manager
business of a department in a company 쑗 She’s a

department manager in an engineering
management course
management course
/mnd$mənt kɔs/ noun a training company. 쑗 Go and see the human re-
course for managers sources manager if you have a problem. 쑗
management function
management function The production manager has been with

/mnd$mənt fŋkʃən/ noun the du- the company for only two weeks. 쑗 Our
ties of being a manager sales manager started as a rep in London.
2. the person in charge of a branch or shop
management guru /mnd$mənt
management guru
쑗 Mr Smith is the manager of our local

!υru/ a management theorist (informal) Lloyds Bank. 쑗 The manager of our La-
management information system
management information system gos branch is in London for a series of

/mnd$mənt nfəmeʃ(ə)n sstəm/ | meetings.
noun a computer-based information sys- ‘…the No. 1 managerial productivity
tem that is specially designed to assist problem in America is managers who are
with management tasks and decision- out of touch with their people and out of
making. Abbreviation MIS touch with their customers’ [Fortune]
manageress /mnd$əres/ noun a
management meeting manageress
management meeting |
/mnd$mənt mitŋ/ noun a group of woman who runs a shop or a department
managers who meet managerial /mnəd$əriəl/ adjec-
managerial
|
management standards
management standards tive referring to managers 쑗 All the man-

/mnd$mənt stndəds/ plural noun agerial staff are sent for training every
guidelines setting out the knowledge, un- year. 왍 to be appointed to a managerial
derstanding and personal competences position to be appointed a manager 왍 de-
that managers need to have if they are to cisions taken at managerial level deci-
be effective (NOTE: Management stand- sions taken by managers
ards form the core criteria on which Na- managerialism
managerialism /mn |
tional Vocational Qualifications for man- d$əriəlz(ə)m/ noun an outlook that

agers in the United Kingdom are based emphasises efficient management, and
and cover the management of activities, the use of systems, planning and manage-
people, resources, information, energy, ment practices that improve efficiency
quality and projects.) (NOTE: Managerialism is often used as a
management style /mnd$mənt
management style
term of criticism, implying either enthusi-

stal/, style of management the way in asm for efficiency at the expense of
which managers work, in particular the service or quality or a confrontational at-
way in which they treat their employees titude towards trade unions.)
managership 246
managership /mnd$əʃp/ noun book of instructions, showing what pro-
managership
the job of being a manager 쑗 After six cedures to follow

years, she was offered the managership of manual labour /mnjυəl lebə/,
manual labour
a branch in Scotland. manual work /mnjυəl w&k/ noun

managing director /mnəd$ŋ da heavy work done by hand
managing director
rektə/ noun the director who is in charge manual labourer /mnjυəl lebərə/
manual labourer
of a whole company. Abbreviation MD noun a person who does heavy work with
mandate /mndet/ noun an order their hands
mandate
which allows something to take place manually /mnjυəli/ adverb done by
manually
mandatory /mndət(ə)ri/ adjective hand, not by a machine 쑗 Invoices have

mandatory
obligatory 쑗 Wearing a suit is mandatory had to be typed manually because the

for all managerial staff. 왍 mandatory computer has broken down.
meeting a meeting which all staff have to manual worker /mnjυəl w&kə/
manual worker
attend noun a person who works with his hands

‘…the wage talks are focusing on employ- manufacture /mnjυfktʃə/ verb
manufacture
ment issues such as sharing of work to make a product for sale, using ma-
among employees and extension of em- chines 쑗 The company manufactures
ployment beyond the mandatory retire-
ment age of 60 years’ [Nikkei Weekly] spare parts for cars. 쐽 noun the making
of a product for sale, using machines 왍
manifest /mnfest/ noun a list of
manifest
products of foreign manufacture prod-

goods in a shipment ucts made in foreign countries
manilla /mənlə/ noun thick brown pa-
manilla
manufactured goods
manufactured goods
|
per 쑗 a manilla envelope /mnjufktʃəd !υdz/ plural noun

manipulate /mənpjυlet/ verb 왍 to
manipulate
| items which are made by machine

manipulate the accounts to make false manufacturer
manufacturer /mnjυfktʃərə/ |
accounts so that the company seems prof- noun a person or company that produces
itable 왍 to manipulate the market to machine-made products 쑗 a big Indian
work to influence share prices in your fa- cotton manufacturer 쑗 Foreign manufac-
vour turers have set up factories here.
manning levels /mnŋ lev(ə)lz/
manning levels
manufacturer’s recommended price
manufacturer’s recommended
plural noun the number of people reprice /mnjυfktʃərəz rekəmendd
quired in each department of a company pras/ noun a price at which the manu-
to do the work efficiently facturer suggests the product should be
manpower /mnpaυə/ noun the
manpower
sold on the retail market, which is often

number of employees in an organisation, reduced by the retailer 쑗 ‘All china – 20%
industry or country (NOTE: manpower off the manufacturer’s recommended
does not mean only men.) price’ Abbreviation MRP
manpower forecasting /mnpaυə manufacturing /mnjυfktʃərŋ/
manpower forecasting
manufacturing
fɔkɑstŋ/ noun the process of calculat- noun the production of machine-made

ing how many employees will be needed products for sale 쑗 We must try to reduce
in the future, and how many will actually the manufacturing overheads. 쑗 Manu-
be available facturing processes are continually being
manpower planning /mnpaυə updated.
manpower planning
plnŋ/ noun the process of planning to manufacturing capacity /mnjυ
manufacturing capacity
obtain the right number of employees in fktʃərŋ kəpsti/ noun the amount
|
each job of a product which a factory is capable of

manpower requirements
manpower requirements
making
/mnpaυə rkwaəmənts/, manpow-
|
manufacturing costs /mnjυ
manufacturing costs
er needs /mnpaυə nidz/ plural noun

|
fktʃərŋ kɒsts/ noun the costs of

the number of employees needed making a product
manpower shortage /mnpaυə
manpower shortage
manufacturing industries /mnjυ

manufacturing industries
ʃɔtd$/ noun a lack of employees

|
fktʃərŋ ndəstriz/ plural noun in-

manual /mnjuəl/ adjective done by
manual
dustries which take raw materials and

hand or done using the hands 쐽 noun a make them into finished products
247 mark
margin /mɑd$n/ noun 1. the differ- marginal revenue /mɑd$n(ə)l
margin marginal revenue
ence between the money received when revenju/ noun the income from selling
selling a product and the money paid for a single extra unit above the number al-
it 왍 we are cutting our margins very ready sold
fine we are reducing our margins to the marginal tax rate /mɑd$n(ə)l
marginal tax rate
smallest possible in order to be competi- tks ret/ noun same as marginal rate

tive 왍 our margins have been squeezed of tax
profits have been reduced because our
margin of error /mɑd$n əv erə/
margin of error
margins have to be smaller to stay com-

petitive 2. extra space or time allowed noun the number of mistakes which can
be accepted in a document or in a calcula-
‘…profit margins in the industries most tion
exposed to foreign competition – machin-
margin of safety /mɑd$n əv
margin of safety
ery, transportation equipment and electri-

cal goods – are significantly worse than sefti/ noun the units produced or sales
usual’ [Australian Financial Review] of such units which are above the
marginal /mɑd$n(ə)l/ adjective 1. breakeven point
marginal
marine /mərin/ adjective referring to

marine
hardly worth the money paid 2. not very |
profitable 쑗 a marginal return on invest- the sea

ment marine insurance /mərin n
marine insurance
| |
marginal cost /mɑd$n(ə)l kɒst/ ʃυərəns/ noun the insurance of ships

marginal cost
noun the cost of making a single extra and their cargoes

unit above the number already planned marine underwriter
marine underwriter
/mərin
marginal costing /mɑd$n(ə)l
|
marginal costing
ndəratə/ noun a person or company

kɒstŋ/ noun the costing of a product on that insures ships and their cargoes
the basis of its variable costs only, exclud- maritime /mrtam/ adjective refer-
maritime
ing fixed costs ring to the sea

marginalisation /mɑd$nəla
marginalisation
maritime law /mrtam lɔ/ noun

| maritime law
zeʃ(ə)n/ noun loss of importance and

status especially as a result of falling be- laws referring to ships, ports, etc.
maritime lawyer /mrtam lɔjə/
maritime lawyer
hind modern developments and being un-

able to participate in e.g. the Internet noun a lawyer who specialises in legal
economy matters concerning ships and cargoes
marginal land /mɑd$n(ə)l lnd/ maritime trade /mrtam tred/
maritime trade
marginal land
noun land which is almost not worth noun the transporting of commercial
farming goods by sea
marginal pricing /mɑd$n(ə)l mark /mɑk/ noun 1. a sign put on an
marginal pricing mark
prasŋ/ noun the practice of basing the item to show something 2. a former unit
selling price of a product on its variable of currency in Germany 쑗 The price was
costs of production plus a margin, but ex- twenty-five marks. 쑗 The mark rose
cluding fixed costs against the dollar. (NOTE: Usually written
marginal purchase /mɑd$n(ə)l
marginal purchase
DM after a figure: 25DM.) 쐽 verb to put a
p&tʃs/ noun something which a buyer sign on something 쑗 to mark a product
feels is only just worth buying ‘for export only’ 쑗 an article marked at
marginal rate of tax /mɑd$n(ə)l
marginal rate of tax
£1.50 쑗 She used a black pen to mark the
ret əv tks/, marginal rate of taxa- price on the book.
tion /mɑd$n(ə)l ret əv tkseʃ(ə)n/ mark down phrasal verb to make the
price of something lower 왍 to mark
|
noun the percentage of tax which a tax-

payer pays at the top rate, which he or she down a price to lower the price of
therefore pays on every further pound or something 쑗 This range has been
dollar he earns marked down to $24.99. 쑗 We have
‘…pensioner groups claim that pensioners marked all prices down by 30% for the
have the highest marginal rates of tax. In- sale.
come earned by pensioners above $30 a mark up phrasal verb to increase the
week is taxed at 62.5 per cent, more than price of something 왍 to mark prices up
the highest marginal rate’ [Australian to increase prices 쑗 These prices have
Financial Review] been marked up by 10%.
mark-down 248
mark-down /mɑk daυn/ noun 1. a re- being marketed in all European coun-
mark-down
duction of the price of something to less tries.

than its usual price 2. the percentage ‘…market analysts described the falls in
amount by which a price has been low- the second half of last week as a technical
ered 쑗 There has been a 30% mark-down correction to a market which had been
on all goods in the sale. pushed by demand to over the 900 index
level’ [Australian Financial Review]
marker pen /mɑkə pen/ noun a felt
marker pen
marketability /mɑktəblti / noun

marketability
pen which makes a wide coloured mark |
the fact of being able to be sold easily 쑗

market /mɑkt/ noun 1. a place, often
market
the marketability of shares in electronic

in the open air where farm produce and companies
household goods are sold 쑗 The fish mar- marketable /mɑktəb(ə)l/ adjective
marketable
ket is held every Thursday. 쑗 The open- easily sold

air market is held in the central square. 쑗
market analysis /mɑkt ənləss/
market analysis
Here are this week’s market prices for |
sheep. 2. 왍 the Common Market the Eu- noun the detailed examination and report
ropean Union 3. an area where a product of a market
market capitalisation /mɑkt
market capitalisation
might be sold or the group of people who

might buy a product 쑗 There is no market kptəlazeʃ(ə)n/ noun the total mar-
|
for this product. 쑗 Our share of the Far ket value of a company, calculated by
eastern market has gone down. 4. the pos- multiplying the price of its shares on the
sible sales of a specific product or de- Stock Exchange by the number of shares
mand for a specific product 쑗 There’s no outstanding 쑗 company with a £1m capi-
market for word processors 쑗 The market talisation
for home computers has fallen sharply. 쑗 market concentration /mɑkt
market concentration
We have 20% of the British car market. 5. kɒns(ə)ntreʃ(ə)n/ noun same as con-
|
왍 to pay black market prices to pay high centration

prices to get items which are not easily market day /mɑkt de/ noun the day
market day
available 6. a place where money or com- when a market is regularly held 쑗 Tues-
modities are traded 7. 왍 to buy shares in day is market day, so the streets are
the open market to buy shares on the closed to traffic.
Stock Exchange, not privately 왍 to come
market dues / mɑkt djuz/ plural
market dues
to the market (of a company) to apply

for a Stock Exchange listing, by offering noun the rent to be paid for a stall in a
some of the existing shares for sale, or by market
market economist /mɑkt 
market economist
floating it as a new company 8. a place |
where shares are bought and sold 쑗 The kɒnəmst/ noun a person who specialis-
market in oil shares was very active or es in the study of financial structures and
There was a brisk market in oil shares. 9. the return on investments in the stock
왍 to go up market, to go down market market
to make products which appeal to a market economy /mɑkt kɒnəmi/
market economy
wealthy section of the market or to a wid- noun same as free market economy
er, less wealthy section of the market 10. marketface /mɑktfes/ noun the
marketface
왍 to be in the market for secondhand point of contact between suppliers and

cars to look for secondhand cars to buy 왍 their customers
to come on to the market to start to be
market-facing /mɑkt fesŋ/ ad-
market-facing
sold 쑗 This soap has just come on to the

jective referring to an enterprise that
market. 왍 to put something on the mar-
ket to start to offer something for sale 쑗 adapts itself to the needs of its markets
They put their house on the market. 쑗 I and customers
market forces /mɑkt fɔsz/ plural
market forces
hear the company has been put on the

market. 왍 the company has priced itself noun the influences on the sales of a
out of the market the company has product which bring about a change in
raised its prices so high that its products prices
do not sell 쐽 verb to sell a product, or to market forecast /mɑkt fɔkɑst/
market forecast
present and promote a product in a way noun a forecast of prices on the stock
which will help to sell it 쑗 This product is market
249 market share

marketing /mɑktŋ/ noun 1. the market opportunity /mɑkt ɒpə
marketing market opportunity
business of presenting and promoting tjunti/ noun the possibility of going

goods or services in such a way as to into a market for the first time
make customers want to buy them 왍 mar- market optimism /mɑkt ɒpt
market optimism
keting policy, marketing plans ideas of mzəm/ noun a feeling that the stock
how the company’s products are going to market will rise
be marketed 쑗 to plan the marketing of a market penetration /mɑkt pen
market penetration
new product 2. the techniques used in treʃ(ə)n/ noun the percentage of a total
selling a product, such as packaging and market which the sales of a company cov-
advertising er
‘…reporting to the marketing director, the
/mɑkt
market pessimism
successful applicant will be responsible market pessimism

for the development of a training pro- pesmz(ə)m/ noun feeling that the
gramme for the new sales force’ [Times] stock market prices will fall
marketplace /mɑktples/ noun 1.
marketplace
marketing agreement /mɑktŋ ə

marketing agreement
!rimənt/ noun a contract by which one the open space in the middle of a town
company will market another company’s where a market is held 쑗 You can park in
products the marketplace when there is no market.
2. the situation and environment in which
marketing cost /mɑktŋ kɒst/
marketing cost
goods are sold 쑗 Our salespeople find life

noun the cost of selling a product, includ- difficult in the marketplace. 쑗 What’s the
ing advertising, packaging, etc. reaction to the new car in the market-
marketing department /mɑktŋ place? 쑗 What’s the marketplace reaction
marketing department
dpɑtmənt/ noun the section of a com-

|
to the new car?
pany dealing with marketing and sales ‘…most discounted fares are sold by buck-
marketing manager /mɑktŋ
marketing manager
et shops but in today’s competitive mar-
ketplace any agent can supply them’
mnd$ə/ noun a person in charge of a [Business Traveller]
marketing department 쑗 The marketing
market price /mɑkt pras/ noun the
market price
manager has decided to start a new ad-

vertising campaign. price at which a product can be sold
market profile /mɑkt prəυfal/
market profile
market leader /mɑkt lidə/ noun 1.

market leader
a product which sells most in a market 2. noun the basic characteristics of a partic-
the company with the largest market share ular market
market rate /mɑkt ret/ noun the
market rate
쑗 We are the market leader in home com-

puters. usual price in the market 쑗 We pay the
‘…market leaders may benefit from scale market rate for secretaries or We pay sec-
economies or other cost advantages; they retaries the market rate.
may enjoy a reputation for quality simply ‘…after the prime rate cut yesterday, there
by being at the top, or they may actually was a further fall in short-term market
produce a superior product that gives them rates’ [Financial Times]
both a large market share and high profits’ market requirements /mɑkt r
market requirements
[Accountancy] kwaəməntz/ plural noun things which

marketmaker /mɑktmekə/ noun a
marketmaker
are needed by the market

person who buys or sells shares on the market research /mɑkt rs&tʃ/
market research
stock market and offers to do so. A mar- noun the process of examining the possi-
ketmaker operates a book, listing the se- ble sales of a product and the possible
curities he or she is willing to buy or sell, customers for it before it is put on the
and makes his or her money by charging market
a commission on each transaction. market sentiment
market sentiment / mɑkt

market opening /mɑkt əυp(ə)nŋ/ sentmənt/ noun a general feeling
market opening
noun the possibility of starting to do busi- among investors or financial analysts on a

ness in a new market stock market
market opportunities /mɑkt ɒpə market share /mɑkt ʃeə/ noun the
market opportunities market share
tjuntiz/ noun the possibility of finding percentage of a total market which the
new sales in a market sales of a company’s product cover 쑗 We
market test 250

hope our new product range will increase mass unemployment /ms nm
mass unemployment
our market share. plɔmənt/ noun unemployment affect-

market test /mɑkt test/ noun an
market test
ing large numbers of people
master franchise /mɑstə
master franchise
examination to see if a sample of a prod-

uct will sell in a market frntʃaz/ noun a franchise given to a
market trends /mɑkt trendz/ plu-
market trends
single entrepreneur who then sells subsid-
ral noun gradual changes taking place in iary franchises to others
Master of Business Administra-
Master of Business Administration
a market
tion /mɑstər əv bzns əd
market value /mɑkt vlju/ noun
market value |
mnstreʃ(ə)n/ noun full form of MBA

the value of an asset, a share, a product or
masthead /mɑsthed/ noun the area
masthead
a company if sold today

at the top of a webpage, which usually
mark-up /mɑk p/ noun 1. an in-
mark-up
contains the logo of the organisation that

crease in price 쑗 We put into effect a 10% owns the page, and often a search box and
mark-up of all prices in June. 쑗 Since I a set of links to important areas of the
was last in the store they have put at least website
a 5% mark-up on the whole range of mate /met/ noun an officer on a cargo
mate
items. 2. the difference between the cost ship below the rank of master
of a product or service and its selling
material /mətəriəl/ noun a substance
material
price 왍 we work to a 3.5 times mark-up |
or to a 350% mark-up we take the unit which can be used to make a finished
cost and multiply by 3.5 to give the selling product 왍 materials control a system to
price check that a company has enough materi-
als in stock to do its work 왍 material(s)
mart /mɑt/ noun a place where things
mart
cost cost of the materials used in making

are sold a product 왍 materials handling the mov-
mass /ms/ noun 1. a large group of ing of materials from one part of a factory
mass
people 2. a large number 쑗 We have a to another in an efficient way

maternity benefit /mət&nti
maternity benefit
mass of letters or masses of letters to |
write. 쑗 They received a mass of orders or benft/ noun money paid by the Nation-
masses of orders after the TV commer- al Insurance to a mother when she has her
cials. child
mass marketing /ms mɑktŋ / maternity leave / mət&nti liv/
mass marketing maternity leave
noun marketing which aims at reaching noun a period when a woman is away
large numbers of people from work to have a baby but is often still
‘…in the good old days of mass market- paid
matter /mtə/ noun a question or
matter
ing, the things marketers did to attract new

customers tended to be the same as the problem to be discussed 쑗 the most im-
things they did to keep existing customers portant matter on the agenda 쑗 We shall
– competitive prices, high quality and consider first the matter of last month’s
good service’ [Marketing Week] fall in prices. 쐽 verb to be important 쑗
mass media /ms midiə/ noun the Does it matter if one month’s sales are
mass media
means of communication by which large down?

mature /mətjυə/ adjective 왍 mature
mature
numbers of people are reached, e.g. radio, |
television or newspapers economy a fully developed economy 쐽

mass picketing / ms pktŋ/ noun
mass picketing
verb to become due 왍 bills which mature
the action of picketing by large numbers in three weeks’ time bills which will be
of pickets who try to frighten workers due for payment in three weeks
maturity /mətjυərti/ noun 1. the third
maturity
who want to work |
stage in a product life cycle when a prod-

mass-produce /ms prədjus/ verb
mass-produce
|
uct is well established in the market
to manufacture identical products in large though no longer enjoying increasing
quantities 쑗 to mass-produce cars sales, after which sooner or later it will
mass production /ms prədkʃən/
mass production
| start to decline 2. the time at which some-

noun the manufacture of large quantities thing becomes due for payment or repay-
of identical products ment 왍 amount payable on maturity the
251 mechanic
amount received by the insured person are over the mean for the first quarter or
when a policy matures above the first-quarter mean.
maturity date /mətʃυərti det/ noun means /minz/ noun a way of doing
maturity date means
a date when a government stock, an assur- something 쑗 Do we have any means of

ance policy or a debenture will become copying all these documents quickly? 쑗
due for payment. Also called date of ma- Bank transfer is the easiest means of pay-
turity ment. (NOTE: The plural is means.) 쐽
maturity yield /mətʃυərti jild/ plural noun money or resources 쑗 The
maturity yield
noun a calculation of the yield on a fixed- company has the means to launch the new
interest investment, assuming it is bought product. 쑗 Such a level of investment is
at a certain price and held to maturity beyond the means of a small private com-
maximisation /mksmazeʃ(ə)n/, pany.
maximisation
means test /minz test/ noun an in-

means test
maximization noun the process of mak-

ing something as large as possible 쑗 profit quiry into how much money someone
maximisation or maximisation of profit earns to see if they are eligible for state
maximise /mksmaz/, maximize benefits 쐽 verb to find out how much
maximise
verb to make something as large as possi- money someone has in savings and assets
ble 쑗 Our aim is to maximise profits. 쑗 쑗 All applicants will be means-tested.
The cooperation of the workforce will be measure /me$ə/ noun 1. a way of cal-
measure
needed if we are to maximise production. culating size or quantity 왍 as a measure

쑗 She is paid on results, and so has to of the company’s performance as a way
work flat out to maximise her earnings. of judging if the company’s results are
maximum /mksməm/ noun the good or bad 2. a type of action 왍 to take
maximum
largest possible number, price or quantity measures to prevent something hap-

쑗 It is the maximum the insurance compa- pening to act to stop something happen-
ny will pay. (NOTE: The plural is maxima ing 왍 to take crisis, emergency meas-
or maximums.) 왍 up to a maximum of ures to act rapidly to stop a crisis devel-
£10 no more than £10 왍 to increase ex- oping 쐽 verb 1. to find out the size or
ports to the maximum to increase ex- quantity of something or to be of a certain
ports as much as possible 쐽 adjective size or quantity 쑗 to measure the size of a
largest possible 쑗 40% is the maximum package 쑗 a package which measures
income tax rate or the maximum rate of 10cm by 25cm or a package measuring
tax. 쑗 The maximum load for the truck is 10cm by 25cm 2. 왍 to measure the gov-
one ton. 쑗 Maximum production levels ernment’s performance to judge how
were reached last week. 왍 to increase well the government is doing
production to the maximum level to in- measurement /me$əmənt/ noun a
measurement
crease it as much as possible way of judging something 쑗 growth

MB abbr megabyte measurement 쑗 performance measure-
MB
MBA /em bi e/ noun a degree award- ment or measurement of performance
MBA
ed to graduates who have completed a

measurement of profitability
measurement of profitability
further course in business studies. Full /me$əmənt əv prɒftəblti/ noun a |
form Master of Business Administra- way of calculating how profitable some-

tion thing is
MBI abbr management buyin measurements /me$əmənts/ noun
MBI measurements
MBO abbr management buyout size (in inches, centimetres, etc.) 쑗 to

MBO
MCT abbr mainstream corporation tax

MCT
write down the measurements of a pack-
MD abbr managing director 쑗 She was
MD
age
measuring tape /me$ərŋ tep/
measuring tape
appointed MD of a property company.

mean /min/ adjective average 쑗 The noun a long tape with centimetres or
mean
mean annual increase in sales is 3.20%. 왍 inches marked on it, used to measure how
mean price the average price of a share in long something is
a day’s trading 쐽 noun the average or mechanic /mknk/ noun a person
mechanic
number calculated by adding several who works with engines or machines 쑗

quantities together and dividing by the He got a job as a car mechanic before go-
number of quantities added 쑗 Unit sales ing to college.
mechanical 252
mechanical /mknk(ə)l/ adjective medical cover /medk(ə)l kvə/
mechanical medical cover
worked by a machine 쑗 a mechanical noun same as medical insurance

pump medical inspection /medk(ə)l n
medical inspection
mechanisation /mekənazeʃ(ə)n/, spekʃ(ə)n/ noun the examination a place

mechanisation
mechanization noun the act of using of work to see if the conditions will not
machines in place of workers 쑗 farm make the workers ill
mechanisation or the mechanisation of medical insurance /medk(ə)l n
medical insurance
farms ʃυərəns/ noun insurance which pays the

mechanise /mekənaz/, mechanize
mechanise
cost of medical treatment, especially

verb to use machines in place of workers when someone is travelling abroad
쑗 The country is aiming to mechanise its medical
medical officer of health
officer of health
farming industry. /medk(ə)l ɒfsə əv helθ/ noun the
mechanism /mekənz(ə)m/ noun the
mechanism
person responsible for the health services

way in which something works 쑗 the in a town or other local area
company’s discount mechanism 쑗 a medical profession /medk(ə)l prə
medical profession
mechanism to slow down inflation 쑗 the feʃ(ə)n/ noun all doctors

company’s salary review mechanism medium /midiəm/ adjective middle
medium
media /midiə/ noun the means of

media
or average 쑗 The company is of medium

communicating a message about a prod- size. 쐽 noun a way of doing something,
uct or service to the public (NOTE: media means of doing something
is followed by a singular or plural verb.)
mediums /midiəmz/ plural noun
mediums
왍 the media, the mass media means of government stocks which mature in seven
communicating information to the public
to fifteen years’ time
(such as television, radio, newspapers) 쑗
medium-sized company /midiəm
medium-sized company
the product attracted a lot of interest in

the media or a lot of media interest sazd kmp(ə)ni/ noun a company
media analysis /midiə ənləss/
media analysis which has a turnover of less than £5.75m
and does not employ more than 250 staff
|
noun the examination of different types

쑗 a medium-sized engineering company
of media (such as the readers of newspa-
medium-term /midiəm t&m/ ad-
medium-term
pers, television viewers) to see which is

best for promoting a certain type of prod- jective referring to a point between short
uct term and long term 왍 medium-term fore-
media
media coverage
coverage /midiə
cast a forecast for two or three years 왍
medium-term loan a bank loan for three
kv(ə)rd$/ noun reports about some- to five years
thing in the media 쑗 We got good media
meet /mit/ verb 1. to come together
meet
coverage for the launch of the new model.

median /midiən/ noun the middle
median
with someone 쑗 Union leaders came to
number in a list of numbers meet the negotiating committee. 쑗 We met
the agent at his hotel. 쑗 The two sides met
mediate /midiet/ verb to try to make
mediate
in the lawyer’s office. 2. to be satisfactory

the two sides in an argument come to an for something 쑗 We must have a product
agreement 쑗 The human resources direc- which meets our requirements. 쑗 He was
tor said she would try to mediate between unable to meet his mortgage repayments.
the manager and his staff. 쑗 The govern- 왍 to meet the demand for a new prod-
ment offered to mediate in the dispute. uct to fill the demand for a product 왍 we
mediation /mideʃ(ə)n/ noun an at-
mediation
|
will try to meet your price we will try to
tempt by a third party to make the two offer a price which is acceptable to you 왍
sides in an argument agree 쑗 The employ- they failed to meet the deadline they
ers refused an offer of government media- were not able to complete in time 3. to
tion. 쑗 The dispute was ended through the pay for something 쑗 The company will
mediation of union officials. 쑗 Mediation meet your expenses. 쑗 He was unable to
by some third party is the only hope for meet his mortgage repayments. (NOTE:
ending the dispute. meeting – met)
medical certificate /medk(ə)l sə
medical certificate
| meet with phrasal verb 1. US to come

tfkət/ noun a certificate from a doctor together with someone 왍 I hope to meet
to show that an employee has been ill with him in New York I hope to meet
253 mentor
him in New York 2. 왍 his request met ‘…the bargaining committee will recom-
with a refusal his request was refused mend that its membership ratify the agree-
meeting /mitŋ/ noun an event at
meeting
ment at a meeting called for June’
which a group of people come together in [Toronto Star]
membership secretary /membəʃp
membership secretary
order to discuss matters of common inter-

est to them 왍 to hold a meeting to organ- sekrətri/ noun a committee member
ise a meeting of a group of people 쑗 The who deals with the ordinary members of a
meeting will be held in the committee society
room. 왍 to open a meeting to start a members’ voluntary winding up
members’ voluntary winding up

meeting 왍 to conduct a meeting to be in /membəz vɒlənt(ə)ri wandŋ p/
the chair for a meeting 왍 to close a meet- noun the winding up of a company by the
ing to end a meeting 왍 to address a meet- shareholders themselves
ing to speak to a meeting 왍 to put a res-
memo /meməυ/ noun a short message
memo
olution to a meeting to ask a meeting to

vote on a proposal sent from one person to another in the
same organisation 쑗 She wrote a memo to
‘…in proportion to your holding you have the finance director. 쑗 The sales manager
a stake in every aspect of the company, in-
cluding a vote in the general meetings’ is going to send a memo to all the sales
[Investors Chronicle] representatives. 쑗 According to your
memo about debtors, the position is worse
meeting place /mitŋ ples/ noun a
meeting place
than last year. 쑗 I sent the managing di-

room or area where people can meet rector a memo about your complaint.
megabyte / me!əbat/ noun storage
megabyte
memorandum /memərndəm/ noun

memorandum
unit in computers, equal to 1,048,576 |
bytes. Abbreviation MB same as memo

memorandum and articles of association
megacity / me!əsti/ noun a very large

megacity
memorandum and articles of as-
city, where there are powerful political in- sociation /memərndəm ənd |
stitutions and media headquarters and ɑtik(ə)lz əv əsəυsieʃ(ə)n/, memo- | |
which has key role in global information randum of association /memə |
networks rndəm əv əsəυsieʃ(ə)n/ noun the | |
legal documents which set up a limited

member /membə/ noun 1. a person
member
company and give details of its name,

who belongs to a group, society or organ- aims, authorised share capital, conduct of
isation 쑗 Committee members voted on
meetings, appointment of directors and
the proposal. 쑗 They were elected mem- registered office
bers of the board. 쑗 Every employer is a
memory /mem(ə)ri/ noun a facility for
memory
member of the employers’ federation. 2. a

shareholder in a company 3. an organisa- storing data in a computer
tion which belongs to a larger organisa- /ment(ə)l
mental handicap
mental handicap
tion 쑗 the member companies of a trade hndikp/ noun same as learning dif-
association 쑗 The member states of the ficulty (NOTE: This term is now generally
EU. 쑗 The members of the United Na- considered unacceptable.)
tions. mentee /menti/ noun a less experi-
mentee
‘…it will be the first opportunity for party enced employee who is offered special
members and trade union members to ex- guidance and support by a respected and
press their views on the tax package’
[Australian Financial Review]
trusted person with more experience (a
mentor)
membership /membəʃp/ noun 1. the
membership
mention /menʃ(ə)n/ verb to talk about

mention
fact of belonging to a group, society or or-

ganisation 쑗 membership qualifications something for a short time 쑗 The chair-
쑗 conditions of membership 쑗 member- man mentioned the work of the retiring
ship card 쑗 to pay your membership or managing director. 쑗 Can you mention to
your membership fees 쑗 membership of the secretary that the date of the next
the EU 2. all the members of a group 쑗 meeting has been changed?
mentor /mentɔ/ noun a person who is
mentor
The membership was asked to vote for the

new president. 왍 the club has a member- respected and trusted by a less experi-
ship of five hundred the club has five enced employee and offers special guid-
hundred members ance and support to them
mentoring 254
mentoring /mentərŋ/ noun a form of buys and sells shares and launches new
mentoring
training or employee development in companies on the Stock Exchange, but

which a trusted and respected person with does not provide banking services to the
a lot experience—the mentor—offers general public
special guidance, encouragement and merchant banker /m&tʃənt
merchant banker
support to a less experienced employee bŋkə/ noun a person who has a high
menu /menju/ noun a list of options or position in a merchant bank
menu
merchantman /m&tʃəntmən/ noun

merchantman
programs available to the user of a com-

puter program a commercial ship
mercantile /m&kəntal/ adjective merchant marine /m&tʃənt mə
mercantile merchant marine
commercial 왍 mercantile country a rin/, merchant navy /m&tʃənt

country which earns income from trade 왍 nevi/ noun all the commercial ships of
mercantile law laws relating to business a country
mercantile agency /m&kəntil merchant number /m&tʃənt
mercantile agency merchant number
ed$(ə)nsi/ noun same as credit-refer- nmbə/ noun a number of the merchant,

ence agency printed at the top of the report slip when
mercantile marine /m&kəntal mə
mercantile marine
|
depositing credit card payments
rin/ noun all the commercial ships of a merchant ship /m&tʃənt ʃp/ noun a
merchant ship
country commercial ship, a ship which carries a

merchandise /m&tʃəndaz/ noun
merchandise
cargo
merge /m&d$/ verb to join together 쑗
merge
goods which are for sale or which have

been sold 쑗 The merchandise is shipped The two companies have merged. 쑗 The
through two ports. 쐽 verb to sell goods by firm merged with its main competitor.
merger /m&d$ə/ noun the joining to-
merger
a wide variety of means, such as display,

advertising or sending samples 쑗 to mer- gether of two or more companies 쑗 As a
chandise a product result of the merger, the company is now
‘…fill huge warehouses with large quanti- the largest in the field.
merit /mert/ noun a quality which de-
merit
ties but limited assortments of top-brand,

first-quality merchandise and sell the serves reward
goods at rock-bottom prices’ [Duns merit award /mert əwɔd/, merit
merit award
Business Month] bonus /mert bəυnəs/ noun extra

merchandiser /m&tʃəndazə/ noun
merchandiser
money given to an employee because they

a person or company that organises the have worked well 쑗 A merit bonus can
display and promotion of goods encourage the better workers, but will
merchandising /m&tʃəndazŋ/,
merchandising
discourage those who feel they cannot

merchandizing noun the process of or- reach the required level.
ganising the display and promotion of merit increase /mert nkris/ noun
merit increase
goods in retail outlets 쑗 the merchandis- an increase in pay given to an employee

ing of a product 쑗 the merchandising de- because his or her work is good
partment merit rating /mert retŋ/ noun the
merit rating
merchant /m&tʃənt/ noun 1. a busi-

merchant
process of judging how well an employee

nessperson who buys and sells, especially works, so that payment can be according
one who buys imported goods in bulk for to merit
retail sale 쑗 a coal merchant 쑗 a wine message /mesd$/ noun 1. a piece of
message
merchant 2. a company, shop or other news which is sent to someone 쑗 He says

business which accepts a credit card for he never received the message. 쑗 I’ll
purchases leave a message with her secretary. 2. in-
merchant account / m&tʃənt ə
merchant account
| formation given on a little screen on a

kaυnt/ noun an account opened by an e- computer, printer, fax machine, etc. 쑗 We
merchant at a financial institution to re- need more toner – the message is showing
ceive the proceeds of credit-card transac- ‘TONER LOW’.
tions message board /mesd$ bɔd/ noun
message board
merchant bank /m&tʃənt bŋk/

merchant bank
a public noticeboard on which messages

noun a bank which arranges loans to can be left (such as at a conference, or in
companies, deals in international finance, a hotel lobby)
255 mileage
messenger /mesnd$ə/ noun a per- economics of people or single companies.
messenger
son who brings a message 쑗 he sent the Compare macroeconomics (NOTE:

package by special messenger or by mo- takes a singular verb)
torcycle messenger microfiche /makrəυfiʃ/ noun an in-
microfiche
Messrs /mesəz/ noun plural form of dex sheet, made of several microfilm pho-
Messrs
Mr, used only in names of firms 쑗 Messrs tographs 쑗 We hold our records on micro-
White, Ltd fiche.
metadata /metədetə/ noun essential microfilm / makrəυflm/ noun a roll
microfilm
metadata
information contained in a document or of film on which a document is photo-

web page, e.g. its publication date, author, graphed in very small scale 쑗 We hold our
keywords, title, and summary, which is records on microfilm. 쐽 verb to make a
used by search engines to find relevant very small-scale photograph 쑗 Send the
websites in response to a search request 1998 correspondence to be microfilmed
from a user. 쒁 meta-tag (NOTE: takes a or for microfilming.
singular or plural verb) micromanage /makrəυmnd$/
micromanage
meta-tag /metə t!/ noun a keyword verb to control a situation or employees

meta-tag
or description command used on a web by paying extreme attention to small de-

page to enable it to be found by search en- tails
gines mid- /md/ prefix middle 왍 from mid
mid-
meter /mitə/ noun 1. a device which 2001 from the middle of 2001 쑗 The fac-
meter
measures the amount of something which tory is closed until mid-July.

has been used 쑗 electricity meter 쑗 water middle /md(ə)l/ adjective in the centre
middle
meter 2. US spelling of metre 쐽 verb to or between two points

measure the amount of something which middle-income /md(ə)l ŋkm/ ad-
middle-income
has been used jective 왍 people in the middle-income

method /meθəd/ noun a way of doing
method
bracket people with average incomes,

something 쑗 They devised a new method not very high or very low
of sending data. 쑗 What is the best meth- middleman /md(ə)lmn/ noun a
middleman
od of payment? 쑗 Her organising meth- businessperson who buys from the manu-
ods are out of date. 쑗 Their manufactur- facturer and sells to retailers or to the pub-
ing methods or production methods are lic 쑗 We sell direct from the factory to the
among the most modern in the country. customer and cut out the middleman.
metre /mitə/, meter US /mitə/ noun
metre
(NOTE: The plural is middlemen.)

a measure of length (= 3.4 feet) (NOTE: middle management /md(ə)l
middle management
Usually written m after figures: the case mnd$mənt/ noun department manag-
is 2m wide by 3m long.) ers in a company, who carry out the policy
metric /metrk/ adjective using the set by the directors and organise the work
metric
metre as a basic measurement of a group of employees

metric system /metrk sstəm/ mid-month /md mnθ/ adjective
metric system mid-month
noun a system of measuring, using me- happening in the middle of the month 쑗
tres, litres and grams mid-month accounts
metric ton /metrk tn/ noun 1000 mid-week / md wik/ adjective hap-
metric ton mid-week
kilograms pening in the middle of a week 쑗 the mid-

mfg abbr manufacturing
mfg
week lull in sales
mile /mal/ noun a measure of length (=
mile
MFN abbr most favoured nation

MFN
mg abbr milligram
mg
1.609 kilometres) 왍 the car does twenty-
five miles to the gallon, twenty-five
mi abbr mile
mi
miles per gallon the car uses one gallon

micro- /makrəυ/ prefix very small
micro-
of petrol to travel twenty-five miles

microbrewery /ma'rəυbruəri/ mileage /mald$/ noun 1. a distance
microbrewery
mileage
|
noun a small brewery, usually independ- travelled in miles 왍 the salesman’s aver-
ently owned, that produces specialised age annual mileage the number of miles
beers in limited quantities which a salesman drives in a year 2. a dis-
microeconomics /makrəυ ikə
microeconomics
| tance which can be driven in a rented car,

nɒmks/ plural noun the study of the which may be charged to the person rent-
mileage allowance 256

ing the car 쑗 The car comes with unlimit- mineral rights /mn(ə)rəl ratz/
mineral rights
ed free mileage. noun the right to extract minerals from

mileage allowance /mald$ ə the ground
mileage allowance
laυəns/ noun money allowed as expens- mini- /mni/ prefix very small
mini-
es to someone who uses his or her own car minicontainer /mnikəntenə/ noun
minicontainer
for business travel a small container

milk /mlk/ verb to make as much profit minimal /mnm(ə)l/ adjective the
milk minimal
for as long as possible from a particular smallest possible 쑗 There was a minimal
product or service 쑗 We intend to milk the quantity of imperfections in the batch. 쑗
product hard for the next two years, be- The head office exercises minimal control
fore it becomes obsolete. over the branch offices.
mill /ml/ noun a building where some minimarket /mnimɑkt/ noun a
mill minimarket
type of cloth is processed or made 쑗 After very small self-service store

lunch the visitors were shown round the minimise /mnmaz/, minimize verb
minimise
mill. to make something seem to be very small

milligram /ml!rm/ noun one thou- and not very important
milligram
minimum /mnməm/ noun the small-

minimum
sandth of a gram (NOTE: Usually written

mg after figures.) est possible quantity, price or number 쑗 to
millilitre /mllitə/ noun one thou-
millilitre
keep expenses to a minimum 쑗 to reduce
sandth of a litre (NOTE: The US spelling the risk of a loss to a minimum (NOTE:
is milliliter. Usually written ml after fig- The plural is minima or minimums.) 쐽
ures.) adjective smallest possible 왍 minimum
dividend the smallest dividend which is
millimetre /mlmitə/ noun one thou-
millimetre
legal and accepted by the shareholders 왍

sandth of a metre (NOTE: The US spelling minimum payment the smallest pay-
is millimeter. Usually written mm after ment necessary 왍 minimum quantity the
figures.) smallest quantity which is acceptable 왍
million /mljən/ noun the number
million
minimum stock level lowest level of

1,000,000 쑗 The company lost £10 mil- stock in a warehouse (when this level is
lion in the African market. 쑗 Our turno- reached more stock has to be ordered)
ver has risen to $13.4 million. 쒁 billion, minimum wage /mnməm wed$/
minimum wage
trillion (NOTE: Can be written m after fig- noun the lowest hourly wage which a
ures: $5m (say ‘five million dollars.’)) company can legally pay its employees
millionaire /mljəneə/ noun a person
millionaire
mining concession /manŋ kən

mining concession
|
|
who has more than one million pounds or seʃ(ə)n/ noun the right to dig a mine on
dollars a piece of land
minister /mnstə/ noun a member of
min
min abbr 1. minute 2. minimum minister
mindset /mandset/ noun a way of a government who is in charge of a minis-

mindset
thinking or general attitude to things try 쑗 a government minister 쑗 the Minis-

ter of Trade or the Trade Minister 쑗 the
mine /man/ noun a hole in the ground
mine
Minister of Foreign Affairs or the Foreign

for digging out coal, gold, iron, etc. 쑗 The Minister (NOTE: In the UK and USA, they
mines have been closed by a strike. 쑗 The are called secretary: the Foreign Sec-
main coal mines are in the west of the retary, Secretary for Commerce.)
country. 쒁 goldmine 쐽 verb to dig and
ministry /mnstri/ noun a department
ministry
bring out coal, gold, etc. 쑗 The company

is mining coal in the south of the country. in the government 쑗 a ministry official or
an official from the ministry 쑗 She works
mineral /mn(ə)rəl/ noun a natural ma-
mineral
in the Ministry of Finance or the Finance

terial (usually in the ground) which can be Ministry. 쑗 He is in charge of the Ministry
used of Information or of the Information Min-
mineral resources /mn(ə)rəl r
mineral resources
| istry. (NOTE: In the UK and the USA, im-

zɔsz/ noun minerals (such as coal, iron portant ministries are called depart-
ore, natural gas, etc.) which lie under the ments: the Department of Trade and
ground in a country and form part of the Industry, the Commerce Depart-
country’s potential wealth ment.)
257 misrepresentation
minor /manə/ adjective less important minutebook /mntbɒk/ noun a book
minor minutebook
쑗 Items of minor expenditure are not list- in which the minutes of a meeting are
ed separately. 쑗 The minor shareholders kept
voted against the proposal. 왍 a loss of mi- minutes /mnts/ plural noun notes of
minutes
nor importance not a very serious loss 쐽 what happened at a meeting, written by
noun a person less than eighteen years old the secretary 왍 to take the minutes to
minority /manɒrti/ noun 1. a number write notes of what happened at a meeting
minority
or quantity which is less than half of the MIS abbr management information sys-
MIS
total 쑗 A minority of board members op- tem

posed the chairman. 왍 in the minority misappropriate /msə prəυpriet/
misappropriate
being fewer than half 쑗 Good salesmen verb to use illegally money which is not
are in the minority in our sales team. 2. a yours, but with which you have been
section of the population from a specific trusted
racial group, which does nor make up the
misappropriation /msəprəυpri
misappropriation
majority of the population |
eʃ(ə)n/ noun the illegal use of money by

minority shareholder / manɒrəti
minority shareholder
|
someone who is not the owner but who
ʃeəhəυldə/ noun a person who owns a
|
has been trusted to look after it
group of shares but less than half of the misc abbr miscellaneous
misc
shares in a company
miscalculate /msklkjυlet/ verb to
miscalculate
minority shareholding /manɒrəti

minority shareholding |
|
calculate wrongly, or to make a mistake in
ʃeəhəυldŋ/ noun a group of shares calculating something 쑗 The salesman
which are less than half the total 쑗 He ac- miscalculated the discount, so we hardly
quired a minority shareholding in the broke even on the deal.
company.
miscalculation /msklkjυ
miscalculation
mint /mnt/ noun a factory where coins

mint | |
leʃ(ə)n/ noun a mistake in calculating

are made 쐽 verb to make coins
miscellaneous /msəleniəs/ adjec-
miscellaneous
minus /manəs/ preposition, adverb

minus |
tive various, mixed, or not all of the same

less, without 쑗 Net salary is gross salary sort 쑗 miscellaneous items on the agenda
minus tax and National Insurance deduc- 쑗 a box of miscellaneous pieces of equip-
tions. 쑗 Gross profit is sales minus pro- ment 쑗 Miscellaneous expenditure is not
duction costs. 쐽 adjective 왍 the accounts itemized in the accounts.
show a minus figure the accounts show miscount noun /mskaυnt/ a mistake
miscount
that more has been spent than has been rein counting 쐽 verb /mskaυnt/ to count
ceived
|
wrongly, or to make a mistake in counting

minus factor /manəs fktə/ noun
minus factor
something 쑗 The shopkeeper miscounted,

an unfavourable factor 쑗 To have lost so we got twenty-five bars of chocolate in-
sales in the best quarter of the year is a stead of two dozen.
minus factor for the sales team. misdirect /msdarekt/ verb to give
misdirect
minute /mnt/ noun 1. one sixtieth

minute
wrong directions
part of an hour 쑗 I can see you for ten mismanage /msmnd$/ verb to
mismanage
minutes only. 쑗 If you do not mind wait- manage something badly 쑗 The company
ing, Mr Smith will be free in about twenty had been badly mismanaged under the
minutes’ time. 2. 왍 the chairman signed previous MD.
the minutes of the last meeting he
mismanagement /ms
mismanagement
signed them to show that they are a cor- |
rect record of what was said and what demnd$mənt/ noun bad management 쑗
cisions were taken 왍 this will not appear The company failed because of the chair-
in the minutes of the meeting this is un- man’s mismanagement.
misrepresent /msreprzent/ verb
misrepresent
official and will not be noted as having |
been said 쐽 verb to write down something to report facts or what someone says
said at a meeting 쑗 The chairman’s re- wrongly 쑗 Our spokesman was totally
marks about the auditors were minuted. 왍 misrepresented in the Sunday papers.
misrepresentation /msreprzen
misrepresentation
I do not want that to be minuted, I want | |
that not to be minuted do not put that re- teʃ(ə)n/ noun the act of making a
mark into the minutes of the meeting wrong statement in order to persuade
miss 258
someone to enter into a contract such as mobile /məυbal/ noun a mobile phone
mobile
one for buying a product or service 쑗 I managed to reach him on his mobile.
miss /ms/ verb 1. not to meet 쑗 I ar- 쑗 As soon as she got on the train her mo-
miss
rived late, so missed most of the discus- bile started ringing.

sion. 왍 he missed the chairman by ten mobile phone /məυbal fəυn/ noun
mobile phone
minutes he left ten minutes before the a small portable phone which can be used
chairman arrived 2. to be late for 쑗 He away from home or the office
missed the last plane to Frankfurt.
mobile shop /məυbal ʃɒp/ noun a
mobile shop
mission /mʃ(ə)n/ noun a group of

mission
van fitted out like a small shop which

people going on a journey for a special travels round selling groceries or vegeta-
purpose bles
mistake /mstek/ noun an act or deci-
mistake
mobilise /məυblaz/, mobilize verb

mobilise
|
sion which is wrong, or something that to bring things or people together and pre-
has been done wrongly 쑗 It was a mistake pare them for action, especially to fight 왍
to let him name his own salary. 쑗 There to mobilise capital to collect capital to
was a mistake in the address. 왍 to make support something 왍 to mobilise re-
a mistake to do something wrong 쑗 The sources to defend a takeover bid to get
shop made a mistake and sent the wrong the support of shareholders, etc., to stop a
items. 쑗 He made a mistake in addressing company being taken over
the letter. 왍 by mistake in error, wrongly
mobility /məυblti/ noun the ability to
mobility
쑗 They sent the wrong items by mistake. 쑗 |
She put my letter into an envelope for the move from one place to another
mobility of labour /məυblti əv
mobility of labour
chairman by mistake. 쐽 verb to think |
wrongly 왍 I mistook him for his brother lebə/ noun a situation when workers
I thought he was his brother agree to move from one place to another
/msndə to get work
misunderstanding
misunderstanding |
stndŋ/ noun an act of not understand- mock-up /mɒk p/ noun the model of
mock-up
ing something correctly 쑗 There was a a new product for testing or to show to
misunderstanding over my tickets. 쑗 possible buyers 쑗 The sales team were
There was a misunderstanding over the shown a mock-up of the new car.
pay deal. mode /məυd/ noun a way of doing
mode
misuse /msjus/ noun a wrong use 쑗 something 왍 mode of payment the way
misuse
the misuse of funds or of assets in which payment is made, e.g. cash or

mix /mks/ noun an arrangement of dif- cheque
mix
ferent things together 쐽 verb to put differ- model /mɒd(ə)l/ noun 1. a small copy
model
ent things together 쑗 I like to mix business of something made to show what it will
with pleasure – why don’t we discuss the look like when finished 쑗 They showed us
deal over lunch? a model of the new office building. 2. a
mixed /mkst/ adjective 1. made up of style or type of product 쑗 This is the latest
mixed
different sorts or of different types of model. 쑗 The model on display is last

things together 2. neither good nor bad year’s. 쑗 I drive a 2001 model Range
‘…prices closed on a mixed note after a Rover. 3. a person whose job is to wear
moderately active trading session’ new clothes to show them to possible buy-
[Financial Times] ers 4. a description in the form of mathe-
mixed economy /mkst kɒnəmi/
mixed economy
|
matical data 쐽 adjective which is a per-
noun a system which contains both na- fect example to be copied 쑗 a model
tionalised industries and private enter- agreement 쐽 verb to wear new clothes to
prise show them to possible buyers 쑗 She has
decided on a career in modelling. (NOTE:
mixed farm /mkst fɑm/ noun a
mixed farm
modelling – modelled. The US spelling

farm which has both animals and crops is modeling – modeled.)
ml
ml abbr millilitre modem /məυdem/ noun a device

modem
mm abbr millimetre
mm
MMC
which links a computer to a telephone
MMC abbr Monopolies and Mergers line, allowing data to be sent from one
Commission computer to another
259 money
moderate /mɒd(ə)rət/ adjective 1. not monetarist /mntərst/ noun a per-
moderate monetarist
too large 쑗 The trade union made a mod- son who believes in monetarism and acts
erate claim. 쑗 The government proposed accordingly 쐽 adjective according to
a moderate increase in the tax rate. 2. not monetarism 쑗 monetarist theories
holding very extreme views 쑗 a moderate monetary /mnt(ə)ri/ adjective re-
monetary
trade union leader 쐽 verb /mɒdəret/ to ferring to money or currency

make less strong or less large 쑗 The union ‘…the decision by the government to
was forced to moderate its claim. tighten monetary policy will push the an-
modern /mɒd(ə)n/ adjective referring
modern
nual inflation rate above the year’s previ-

to the recent past or the present time 쑗 It ous high’ [Financial Times]
is a fairly modern invention – it was pat- ‘…it is not surprising that the Fed started
ented only in the 1980s. to ease monetary policy some months ago’
modernization /mɒdənazeʃ(ə)n/
modernization
|
[Sunday Times]
noun making modern 쑗 the moderniza- ‘…a draft report on changes in the interna-
tion of the workshop tional monetary system’ [Wall Street Jour-
nal]
modernize / mɒdənaz/ verb to make
modernize
monetary policy /mnt(ə)ri pɒlsi/

monetary policy
modern 쑗 He modernized the whole prod- noun the government’s policy relating to
uct range. finance, e.g. bank interest rates, taxes,
modest / mɒdst/ adjective small 쑗 Oil
modest
government expenditure and borrowing

shares showed modest gains over the Monetary
Monetary Policy Committee
Policy Committee
week’s trading. /mnt(ə)ri pɒlsi kəmti/ noun a |
modification /mɒdfkeʃ(ə)n/ noun

modification
| committee of the Bank of England,

a change 쑗 The board wanted to make or chaired by the Governor of the Bank,
to carry out modifications to the plan. 쑗 which has responsibility for setting inter-
The new model has had several important est rates independently of the British gov-
modifications. 쑗 The client pressed for ernment. Its aim is to set rates with a view
modifications to the contract. to keeping inflation at a certain level, and
modified accounts /mɒdfad ə avoiding deflation. Abbreviation MPC
modified accounts
kaυntz/ plural noun 쏡 abbreviated ac- ‘Its Monetary Policy Committee (MPC)
counts gets an opportunity to reveal whether it is
still affected by the Christmas spirit when
modify /mɒdfa/ verb to change or to
modify
it meets this Wednesday’ [The Times]

make something fit a different use 쑗 The
management modified its proposals. 쑗 ‘The Fed next meets to consider interest
rates on February 3 and 4, just one day
This is the new modified agreement. 쑗 ahead of the February MPC meeting’
The car will have to be modified to pass [The Times]
the government tests. 쑗 The refrigerator monetary standard /mnt(ə)ri
monetary standard
was considerably modified before it went

into production. (NOTE: modifies – mod- stndəd/ noun the fixing of a fixed ex-
ifying – modified)
change rate for a currency
monetary targets /mnt(ə)ri
monetary targets
modular /mɒdjυlə/ adjective made of

modular
tɑ!tz/ plural noun figures which are

various sections given as targets by the government when
moment of conception /məυmənt
moment of conception
setting out its budget for the forthcoming

əv kənsepʃən/ the moment at which an
|
year, e.g. the money supply or the PSBR
entrepreneur has the idea of founding a monetary unit /mnt(ə)ri junt/
monetary unit
new organisation to carry out a particular noun a main item of currency of a country
purpose
money / mni/ noun coins and notes
money
momentum /məυmentəm/ noun a

momentum
|
used for buying and selling 왍 to earn
movement forwards 왍 to gain or lose mo- money to have a wage or salary 왍 to earn
mentum to move faster or more slowly good money to have a large wage or sal-
monetarism /mntərz(ə)m/ noun ary 왍 to lose money to make a loss, not to
monetarism
a theory that the amount of money in the make a profit 왍 the company has been
economy affects the level of prices, so losing money for months the company
that inflation can be controlled by regulat- has been working at a loss for months 왍 to
ing money supply get your money back to make enough
money at call 260

profit to cover your original investment 왍 the sales reps? 쑗 How do you monitor the
to make money to make a profit 왍 to put performance of a unit trust?
money into the bank to deposit money Monopolies and Mergers Com-
Monopolies and Mergers Commission
into a bank account 왍 to put money into mission /mənɒpəliz ən m&d$əz kə | |
a business to invest money in a business mʃ(ə)n/ noun a government organisa-

쑗 She put all her redundancy money into tion which examines takeover bids at the
a shop. 왍 to put money down to pay request of the Office of Fair Trading, to
cash, especially as a deposit 쑗 We put £25 see if a successful bid would result in a
down and paid the rest in instalments. 왍 monopoly and so harm the consumer by
money up front payment in advance 쑗 reducing competition. Abbreviation
They are asking for £10,000 up front be- MMC
fore they will consider the deal. 쑗 He had monopolisation
monopolisation
/mənɒpəla | |
to put money up front before he could zeʃ(ə)n/, monopolization noun the

clinch the deal. 왍 they are worth a lot of process of making a monopoly
money they are valuable
monopolise / mənɒpəlaz/, monop-
monopolise
money at call /mni ət kɔl/ noun

money at call |
olize verb to create a monopoly or to get

same as call money control of all the supply of a product
money-changer /mni tʃend$ə/
money-changer
monopoly /mənɒpəli/ noun a situa-

monopoly
noun same as changer tion where one person or company is the

moneylender /mnilendə/ noun a
moneylender
|
only supplier of a particular product or
person who lends money at interest service 쑗 to be in a monopoly situation 쑗
money lying idle /mni laŋ
money lying idle
The company has the monopoly of im-

ad(ə)l/ noun money which is not being ports of Brazilian wine. 쑗 The factory has
used to produce interest, which is not in- the absolute monopoly of jobs in the town.
vested in business (NOTE: The more usual US term is
money-making /mni mekŋ/ ad- trust.)
money-making
monopsonist /mənɒpsənst/ noun a

monopsonist
jective able to turn over a profit 쑗 a mon- |
ey-making plan sole buyer of a particular product or serv-

money market /mni mɑkt/ noun ice
money market
monopsony /mənɒpsəni/ noun a sit-

monopsony
a place where large sums of money are |
lent or borrowed uation where there is only one buyer for a

money on call /mni ɒn kɔl/ noun
money on call
particular product or service 쑗 Monop-
same as call money sony gives the buyer leverage in demand-
ing a low price.
money order /mni ɔdə/ noun a
money order
Monte Carlo method /mɒnti

Monte Carlo method
document which can be bought as a way

of sending money through the post kɑləυ meθəd/ noun a statistical analy-
sis technique for calculating an unknown
money rates /mni rets/ plural noun
money rates
quantity which has an exact value by us-

rates of interest for borrowers or lenders
ing an extended series of random trials
money-spinner /mni spnə/ noun
money-spinner
(NOTE: The name refers to the fact that a

an item which sells very well or which is roulette wheel in a casino, as in Monte
very profitable 쑗 The home-delivery serv- Carlo, continually generates random
ice has proved to be a real money-spinner. numbers.)
money supply /mni səpla/ noun
money supply
month /mnθ/ noun one of twelve peri-

month
|
the amount of money which exists in a ods which make a year 쑗 bills due at the
country end of the current month 쑗 The company
monies /mniz/ plural noun sums of
monies
pays him £100 a month. 쑗 She earns

money 쑗 monies owing to the company 쑗 £2,000 a month. 왍 paid by the month
to collect monies due paid once each month 왍 to give a custom-
monitor /mɒntə/ noun a screen on a er two months’ credit to allow a custom-
monitor
computer 쑗 She brought up the informa- er to pay not immediately, but after two
tion on the monitor. 쐽 verb to check or to months
month end /mnθ end/ noun the end
month end
examine how something is working 쑗 She

is monitoring the progress of sales. 쑗 of a calendar month, when accounts have
How do you monitor the performance of to be drawn up 쑗 The accounts depart-
261 most
ment are working on the month-end ac- usually in order to enable the borrower to
counts. buy the property 쑗 to buy a house with a
monthly /mnθli/ adjective happening
monthly
£200,000 mortgage 왍 mortgage pay-
every month or which is received every ments money paid each month as interest
month 쑗 We get a monthly statement from on a mortgage, plus repayment of a small
the bank. 쑗 She makes monthly payments part of the capital borrowed 왍 first mort-
to the credit card company. 쑗 He is pay- gage the main mortgage on a property 왍
ing for his car by monthly instalments. 쑗 to pay off a mortgage to pay back the
My monthly salary cheque is late. 왍 principal and all the interest on a loan to
monthly ticket a ticket for travel which is buy a property 쐽 verb to use a property as
good for one month 쐽 adverb every security for a loan 쑗 The house is mort-
month 쑗 She asked if she could pay gaged to the bank. 쑗 He mortgaged his
monthly by direct debit. 쑗 The account is house to set up in business. 왍 to foreclose
credited monthly. on a mortgaged property to sell a prop-
moonlight /munlat/ (informal ) noun
moonlight
erty because the owner cannot repay
왍 to do a moonlight flit to go away (at money which he or she has borrowed, us-
night) leaving many unpaid bills 쐽 verb ing the property as security
to do a second job for cash, often in the ‘…mortgage payments account for just 20
evening, as well as a regular job per cent of the average first-time buyer’s
gross earnings against an average of 24 per
moonlighter /munlatə/ noun a per-
moonlighter
cent during the past 15 years’ [Times]

son who moonlights ‘…mortgage money is becoming tighter.
moonlighting /munlatŋ/ noun the
moonlighting
Applications for mortgages are running at

practice of doing a second job 쑗 He a high level and some building societies
makes thousands a year from moonlight- are introducing quotas’ [Times]
ing. ‘…for the first time since mortgage rates
mooring(s) /mυərŋz/ noun a place began falling a financial institution has
mooring
where boats can be tied up in a harbour raised charges on homeowner loans’

morale /mərɑl/ noun a feeling of con-
morale
[Globe and Mail (Toronto)]
mortgage bond /mɔ!d$ bɒnd/
|
mortgage bond
fidence or satisfaction 쑗 morale has been

high since the new targets have been met noun a certificate showing that a mort-
쑗 Employee morale is low due to the gage exists and that property is security
threat of unemployment. for it
mortgage debenture /mɔ!d$ d
mortgage debenture
moral right /mɒrəl rat/ noun a right

moral right
|
of an editor or illustrator, etc., to have bentʃə/ noun a debenture where the

some say in the publication of a work to lender can be repaid by selling the compa-
which he has contributed, even if he does ny’s property
mortgagee /mɔ!əd$i/ noun a per-
mortgagee
not own the copyright |
moratorium / mɒrətɔriəm/ noun a son or company which lends money for

moratorium
temporary stop to repayments of interest someone to buy a property

mortgage famine /mɔ!d$ fmn/
mortgage famine
on loans or capital owed 쑗 The banks

called for a moratorium on payments. noun a situation where there is not
(NOTE: The plural is moratoria or mora- enough money available to offer mortgag-
toriums.) es to house buyers
mortality tables / mɔtləti mortgager /mɔ!d$ə/, mortgagor
mortality tables mortgager
teb(ə)lz/ plural noun chart, used by in- noun a person who borrows money to buy
surers, which shows how long a person of a property
a certain age can be expected to live on most /məυst/ pronoun very large
most
average amount or quantity 쑗 Most of the staff are

mortgage /mɔ!d$/ noun 1. agree- graduates. 쑗 Most of our customers live
mortgage
ment where someone lends money to an- near the factory. 쑗 Most of the orders
other person so that he or she can buy a come in the early part of the year. 쐽 ad-
property, the property being the security jective very large number of 쑗 Most or-
쑗 to take out a mortgage on a house 2. ders are dealt with the same day. 쑗 Most
money lent on the security of a house or salesmen have had a course of on-the-job
other property owned by the borrower, training.
most favoured nation 262

most favoured nation /məυst 쑗 The company is faced with mounting
most favoured nation
fevəd neʃ(ə)n/ noun a foreign coun- debts.

try to which the home country allows the mouse /maυs/ noun a small moveable
mouse
best trade terms. Abbreviation MFN device attached to a personal computer

and used to move or select items on the
most-favoured-nation clause
most-favoured-nation clause
/məυst fevəd neʃ(ə)n klɔz/ noun an screen (NOTE: The plural is mouses or
agreement between two countries that mice.)
each will offer the best possible terms in ‘…you can use a mouse to access pop-up
commercial contracts menus and a keyboard for a word-proces-
mostly /məυstli/ adverb mainly or sor’ [Byte]
mostly
movable /muvəb(ə)l/, moveable ad-

movable
generally 쑗 The staff are mostly girls of

twenty to thirty years of age. 쑗 He works jective possible to move 쑗 All the move-
mostly in the London office. able property has been seized by the bail-
motion /məυʃ(ə)n/ noun a proposal
motion
iffs.
move /muv/ verb 1. to go from one
move
which will be put to a meeting to be voted

on 쑗 to speak against or for a motion 쑗 place to another 쑗 The company is mov-
Mr Brown will propose or move a motion ing from London Road to the centre of
congratulating the board on the results. 쑗 town. 쑗 We have decided to move our fac-
The meeting voted on the motion. 쑗 The tory to a site nearer the airport. 2. to be
motion was carried or was defeated by sold, or to sell 쑗 Over Christmas the stock
220 votes to 196. 왍 to table a motion to hardly moved at all but with the January
put forward a proposal for discussion by sales it is finally starting to sell. 쑗 The
putting details of it on the table at a meet- sales staff will have to work hard if they
ing want to move all that stock by the end of
motivate / məυtvet/ verb to encour-
motivate
the month. 3. to propose formally that a
age someone to do something, especially motion be accepted by a meeting 쑗 He
to work or to sell 왍 highly motivated moved that the accounts be agreed. 쑗 I
sales staff sales staff who are very eager move that the meeting should adjourn for
to sell ten minutes.
moveables /muvəb(ə)lz/ plural noun
moveables
‘…creative people aren’t necessarily moti-

vated by money or titles, they may not moveable property
want a larger office or more work, they movement /muvmənt/ noun 1. an
movement
don’t often want more responsibility. They act of changing position or going up or
want to see their ideas implemented’ down 쑗 movements in the money markets
[Nation’s Business] 쑗 cyclical movements of trade 2. a group
motivation /məυtveʃ(ə)n/ noun 1.
motivation
|
of people working towards the same aim
an encouragement to staff 2. eagerness to 쑗 the labour movement 쑗 the free trade
work well or sell large quantities of a movement 쑗 the trade union movement
product 왍 the sales staff lack motivation mover /muvə/ noun a person who pro-
mover
the sales staff are not eager enough to sell poses a motion
motive /məυtv/ noun something that
motive
moving average /muvŋ

moving average
forces someone to take a particular action v(ə)rd$/ noun an average of share

motor insurance /məυtər n
motor insurance
|
prices on a stock market, where the calcu-
ʃυərəns/ noun the act of insuring a car, lation is made over a period which moves
the driver and the passengers in case of forward regularly
accident MPC
MPC abbr Monetary Policy Committee

mount up phrasal verb to increase rap- mpg
idly 쑗 Costs are mounting up. mpg abbr miles per gallon
Mr Chairman /mstə tʃeəmən/ noun
Mr Chairman
mountain /maυntn/ noun a pile, large

mountain
heap 쑗 I have mountains of typing to do. a way of speaking to the male chairman of
쑗 There is a mountain of invoices on the a committee meeting
MRP
sales manager’s desk. MRP abbr manufacturer’s recommended

mounting /maυntŋ/ adjective in-
mounting
price
multi- /mlti/ prefix referring to many
multi-
creasing 쑗 He resigned in the face of

mounting pressure from the shareholders. things
263 Murphy’s law

multibillion /mltbljən/ adjective price by the earnings per share) 2. a com-
multibillion
referring to several billion pounds or dol- pany with stores in several different towns
lars 쑗 They signed a multibillion pound ‘…many independents took advantage of
deal. the bank holiday period when the big mul-
‘…factory automation is a multi-billion- tiples were closed’ [The Grocer]
dollar business’ [Duns Business Month] ‘…the multiple brought the price down to
multicurrency /mltkrənsi/ ad- £2.49 in some stores. We had not agreed to
multicurrency
jective in several currencies 왍 multicur- this deal and they sold out very rapidly.
rency loan a loan in several currencies When they reordered we would not give it
to them. This kind of activity is bad for the
multilateral /mltilt(ə)rəl/ adjec-
multilateral
|
brand and we cannot afford it’
tive between several organisations or [The Grocer]
countries 쑗 a multilateral agreement 왍 multiple entry visa /mltp(ə)l
multiple entry visa
multilateral trade trade between several entri vizə/ noun a visa which allows a
countries visitor to enter a country many times
multimedia document /mlti
multimedia document
multiple ownership /mltp(ə)l

multiple ownership
|
midiə dɒkjυmənt/ noun an electronic əυnəʃp/ noun a situation where some-

document that contains interactive mate- thing is owned by several parties jointly
rial from a range of different media such
multiple store /mltp(ə)l stɔ/ noun
multiple store
as text, video, sound, graphics, and ani-

mation one store in a chain of stores
multiplication sign /mltpl
multiplication sign
multimillion /mltimljən/ adjective

multimillion
|
keʃ(ə)n san/ noun a sign (x) used to

|
referring to several million pounds or dol-

lars 쑗 They signed a multimillion pound show that a number is being multiplied by
deal. another
multiply /mltpla/ verb 1. to calcu-
multiply
multimillionaire /mltimljəneə/
multimillionaire
noun a person who owns property or in- late the sum of various numbers added to-
vestments worth several million pounds gether a particular number of times 쑗 If
or dollars you multiply twelve by three you get thir-
ty-six. 쑗 Square measurements are calcu-
multinational /mltinʃ(ə)nəl/
multinational
|
lated by multiplying length by width. 2. to
noun, adjective (a company) which has grow or to increase 쑗 Profits multiplied in
branches or subsidiary companies in sev- the boom years.
eral countries 쑗 The company has been
multiskilling /mltisklŋ/ noun a
multiskilling
bought by one of the big multinationals. |
Also called transnational system of working where employees are

trained to work in various types of job,
‘…the number of multinational firms has and none are kept on the same type of
mushroomed in the past two decades. As
their sweep across the global economy ac- work for very long, so as to allow flexibil-
celerates, multinational firms are posing ity in the deployment of the workforce
multitasking /mltitɑskŋ/ noun 1.
multitasking
pressing issues for nations rich and poor, |
and those in between’ [Australian Finan- the action of performing several different
cial Review] tasks at the same time 2. running several
multipart stationery /mltipɑt different software programs at the same
multipart stationery
steʃən(ə)ri/ noun stationery, such as in- time

municipal /mjunsp(ə)l/ adjective
municipal
voices, with several sheets usually in dif- |
ferent colours, attached together and referring to a town 쑗 We pay our munici-
printed together 쑗 Inkjet printers give pal taxes by direct debit. 쑗 The municipal
very good results, but cannot print on offices are in the centre of the town.
multipart stationery. municipal bond /mju nsp(ə)l
municipal bond
multiparty auction /mltipɑti bɒnd/ noun US a bond issued by a town

multiparty auction
ɔkʃən/ noun a method of buying and or district (NOTE: The UK term is local
selling on the Internet where the people authority bond.)
who wish to buy make electronic bids Murphy’s law /m&fiz lɔ/ noun a
Murphy’s law
multiple /mltp(ə)l/ adjective many law, based on wide experience, which

multiple
쐽 noun 1. 왍 share on a multiple of 5 a says that in commercial life if something

share with a P or E ratio of 5 (i.e. 5 is the can go wrong it will go wrong, or that
result when dividing the current market when you are thinking that things are go-
mutual 264
ing right, they will inevitably start to go mutual fund /mjutʃuəl fnd/ noun
mutual fund
wrong an organisation which takes money from

mutual /mjutʃuəl/ adjective belong-
mutual
small investors and invests it in stocks and
ing to two or more people 쐽 noun any shares for them, the investment being in
the form of shares in the fund (NOTE: The
commercial organisation owned by its UK term is unit trust.)
members, such as a building society
mutual insurance company
mutual insurance company
/mjutʃuəl
mutual company
mutual company /mjutʃuəl kmp(ə)ni/ noun a compa-

kmp(ə)ni/ noun same as mutual in- ny which belongs to insurance policy
surance company holders. Also called mutual company
N
N abbr naira national /nʃ(ə)nəl/ adjective refer-
N national
nail /nel/ noun 왍 to pay on the nail to

nail
ring to the whole of a particular country 왍

pay promptly, to pay rapidly national advertising advertising in every
naira /narə/ noun a unit of currency
naira
part of a country, not just in the capital 쑗
used in Nigeria (NOTE: no plural; naira is We took national advertising to promote
usually written N before figures: N2,000 our new 24-hour delivery service. 왍 na-
say ‘two thousand naira’) tional campaign a sales or publicity cam-
name /nem/ noun a person who pro-
name
paign in every part of a country 왍 nation-
vides security for insurance arranged by a al newspapers, the national press news-
Lloyd’s of London syndicate. 쒁 Lloyd’s papers which sell in all parts of a country
National Association of Securi-
National Association of Securities Dealers Automated Quotations system
named /nemd/ adjective 왍 the person

named
named in the policy the person whose ties Dealers Automated Quota-
name is given on an insurance policy as tions system noun full form of NAS-
the person insured DAQ
national bank /nʃ(ə)nəl bŋk/
national bank
narrow market /nrəυ mɑkt/

narrow market
noun a market in a share where very few noun US a bank which is chartered by the
shares are available for sale, and where federal government and is part of the Fed-
the price can vary sharply eral Reserve system as opposed to a ‘state
NASDAQ /nzdk/ abbreviation a
NASDAQ bank’
National Council for Vocational
National Council for Vocational Qualifications
system which provides quotations via

computer for the US electronic trading Qualifications /nʃ(ə)nəl kaυns(ə)l
market, mainly in high tech stocks, and fə vəυkeʃ(ə)nəl kwɒlfkeʃ(ə)nz/
| |
also for some large corporations listed on noun full form of NCVQ
National Debt /nʃ(ə)nəl det/ noun
National Debt
the NYSE, and publishes an index of

stock price movements. Full form Na- money borrowed by a government
tional Association of Securities Deal- National Giro /nʃ(ə)nəl d$arəυ/
National Giro
ers Automated Quotations system noun banking system which allows ac-
(NOTE: The UK term is SEAQ.) count holders to move money from one
nation /neʃ(ə)n/ noun a country and account to another free of cost 쑗 a giro
nation
the people living in it cheque 쑗 his giro account number 쑗 to

265 necessary
pay by bank giro transfer 쑗 She put £25 al training. Abbreviation NVQ (NOTE: Na-
into her giro account. tional Vocational Qualifications are
National
National Health Service
Health Service based on standards developed by lead-

/nʃ(ə)nəl helθ s&vs/ noun a scheme ing organisations in the industrial and
for free medical and hospital service for commercial sectors, defining the skills
everyone, paid for by the National Insur- or competences required in particular
ance occupations.)
national income /nʃ(ə)nəl nkm/ nationwide /neʃənwad/ adjective
nationwide
national income
noun the value of income from the sales all over a country 쑗 We offer a nationwide
of goods and services in a country delivery service. 쑗 The new car is being
National Insurance /nʃ(ə)nəl n
National Insurance
|
launched with a nationwide sales cam-
ʃυərəns/ noun state insurance in the paign.
natural /ntʃ(ə)rəl/ adjective 1. found
natural
United Kingdom, organised by the gov-

ernment, which pays for medical care, in the earth 쑗 The offices are heated by
hospitals, unemployment benefits, etc. natural gas. 2. not made by people 쑗
Abbreviation NI They use only natural fibres for their best
National Insurance contribution
National Insurance contribution
cloths.
/nʃ(ə)nəl nʃυərəns kɒntr natural capitalism /ntʃ(ə)rəl
natural capitalism
| |
bjuʃ(ə)n/ noun a proportion of income kpt(ə)lz(ə)m/ noun a capitalist phi-

paid each month by an employee and the losophy that makes protection of the
employee’s company to the National In- earth’s resources a strategic priority
surance scheme which helps to fund sick- natural resources /ntʃ(ə)rəl r
natural resources
ness and unemployment benefit and state zɔsz/ plural noun raw materials which
pensions. Abbreviation NIC are found in the earth, e.g. coal, gas or
nationalisation /nʃ(ə)nəla
nationalisation
|
iron
zeʃ(ə)n/, nationalization noun the natural wastage
natural wastage /ntʃ(ə)rəl

taking over of private industry by the state westd$/ noun the process of losing
nationalise /nʃ(ə)nəlaz/, national-
nationalise
employees because they resign or retire,

ize verb to put a privately-owned industry not because they are made redundant or
under state ownership and control 쑗 The are sacked 쑗 The company is hoping to
government is planning to nationalise the avoid redundancies and reduce its staff by
banking system. natural wastage.
nationalised industry /nʃ(ə)nə
nationalised industry
nature /netʃ+ə/ noun the kind or type

nature
|
lazd ndəstri/ noun an industry which 쑗 What is the nature of the contents of the
was privately owned, but is now owned by parcel? 쑗 The nature of his business is not
the state known.
nationality /nʃənlti/ noun the
nationality
NAV
|
NAV abbr net asset value

state of being a citizen of a particular NB
country 왍 he is of British nationality he NB abbreviation from a Latin phrase

is a British citizen meaning ‘note (this) well’, i.e. pay atten-
national press /nʃ(ə)nəl pres/
national press
tion to this. Full form Nota bene
NBV
noun newspapers which sell in all parts of NBV abbr net book value
the country 쑗 The new car has been ad-
NCVQ
NCVQ noun a government body set up

vertised in the national press. to validate the system of national qualifi-
National Savings & Investments cations in vocational subjects. Full form
National Savings & Investments
/nʃ(ə)nəl sevŋz ənd nvestmənts/ |

National Council for Vocational Qual-
noun a part of the Exchequer, a savings ifications
scheme for small investors including sav- necessary /ness(ə)ri/ adjective
necessary
ings certificates and premium bonds. Ab- which has to be done, which is needed 쑗
breviation NS&I It is necessary to fill in the form correctly
National Vocational Qualification
National Vocational Qualification
if you are not to have difficulty at customs.

/nʃ(ə)nəl vəυkeʃ(ə)n(ə)l kwɒlf| | 쑗 Is it really necessary for the chairman
keʃ(ə)n/ noun a qualification awarded to have six personal assistants? 쑗 You
in the United Kingdom when a person must have all the necessary documenta-
successfully completes a course vocation- tion before you apply for a subsidy.
necessity 266
necessity /nəsesti/ noun something a contract 왍 he negotiated a £250,000
necessity
which is vitally important, without which loan with the bank he came to an agree-
nothing can be done or no one can survive ment with the bank for a loan of £250,000
쑗 Being unemployed makes it difficult to ‘…many of the large travel agency chains
afford even the basic necessities. (NOTE: are able to negotiate even greater dis-
The plural is necessities.) counts’ [Duns Business Month]
negative /ne!ətv/ adjective meaning /n
negative negotiating committee
negotiating committee
‘no’ 왍 the answer was in the negative
|
!əυʃietŋ kəmti/ noun a group of

|
the answer was ‘no’ representatives of management and un-

negative cash flow /ne!ətv kʃ ions who negotiate a wage settlement
negative cash flow
fləυ/ noun a situation where more money negotiation /n!əυʃieʃ(ə)n/ noun

negotiation
| |
is going out of a company than is coming the discussion of terms and conditions in
in order to reach an agreement 왍 contract
negative equity /ne!ətv ekwti/
negative equity
under negotiation a contract which is be-

noun a situation where a house bought ing discussed 왍 a matter for negotiation
with a mortgage becomes less valuable something which must be discussed be-
than the money borrowed to buy it before a decision is reached 왍 to enter into
cause of falling house prices or to start negotiations to start discuss-
negligence /ne!ld$əns/ noun 1. a ing a problem 왍 to resume negotiations
negligence
lack of proper care or failure to carry out to start discussing a problem again, after
a duty (with the result that a person or talks have stopped for a time 왍 to break
property is harmed) 2. the act of not doing off negotiations to stop discussing a
a job properly when one is capable of do- problem 왍 to conduct negotiations to ne-
ing it gotiate 왍 negotiations broke down after
negligent /ne!ld$ənt/ adjective not six hours discussions stopped because no
negligent
taking appropriate care agreement was possible

negligible /ne!ld$b(ə)l/ adjective ‘…after three days of tough negotiations,
negligible
very small 왍 not negligible quite large the company reached agreement with its
1,200 unionized workers’ [Toronto Star]
negotiable /n!əυʃiəb(ə)l/ adjective
negotiable
negotiator /n!əυʃietə/ noun 1. a

negotiator
transferable from one person to another or |
exchanged for cash 왍 not negotiable person who discusses a problem with the
which cannot be exchanged for cash 왍 aim of achieving agreement between dif-
‘not negotiable’ words written on a ferent people or groups of people 왍 expe-
cheque to show that it can be paid only to rienced union negotiator a member of a
a specific person 왍 negotiable cheque a union who has a lot of experience of dis-
cheque made payable to bearer, i.e. to an- cussing terms of employment with man-
yone who holds it agement 2. a person who works in an es-
‘…initial salary is negotiable around tate agency
nest egg /nest e! / noun money which
nest egg
$45,000 per annum’ [Australian

Financial Review] someone has saved over a period of time,
negotiable instrument / n
negotiable instrument
| usually kept in an interest-bearing ac-

!əυʃiəb(ə)l nstrυmənt/ noun a docu- count and intended for use after retire-
ment which can be exchanged for cash, ment
e.g. a bill of exchange or a cheque net /net/ adjective 1. referring to a price,
net
negotiable paper /n!əυʃiəb(ə)l

negotiable paper
|
weight, pay, etc., after all deductions have
pepə/ noun a document which can be been made 왍 net profit before tax the
transferred from one owner to another for profit of a company after expenses have
cash been deducted but before tax has been
negotiate /n!əυʃiet/ verb 왍 to nego- paid 2. 왍 terms strictly net payment has
negotiate
tiate with someone to discuss a problem to be the full price, with no discount al-
or issue formally with someone, so as to lowed 쐽 noun the Internet, international
reach an agreement 쑗 The management network linking thousands of computers
refused to negotiate with the union. 왍 to using telephone links 쑗 He searched the
negotiate terms and conditions or a Net for information on cheap tickets to the
contract to discuss and agree the terms of USA. 쐽 verb to make a true profit 쑗 to net
267 network organisation

a profit of £10,000 (NOTE: netting – net- net receipts /net rsits/ plural noun
net receipts
ted) receipts after deducting commission, tax,

‘…out of its earnings a company will pay discounts, etc.
a dividend. When shareholders receive net salary /net sləri/ noun the sala-
net salary
this it will be net, that is it will have had ry which is left after deducting tax and
tax deducted at 30 per cent’ National Insurance contributions
[Investors Chronicle]
net sales /net selz/ plural noun the
net sales
net asset value /net set vlju/

net asset value
total amount of sales less damaged or re-

noun the total value of a company after turned items and discounts to retailers
deducting the money owed by it (it is the
net turnover /net t&nəυvə/ noun
net turnover
value of shareholders’ capital plus re- |
serves and any money retained from prof- turnover before VAT and after trade dis-
its). Abbreviation NAV. Also called net counts have been deducted
net weight /net wet/ noun the
net weight
worth
net book value /net bυk vlju/
net book value
weight of goods after deducting the pack-
noun the historical cost of an asset less ing material and container
network /netw&k/ noun a system
network
any accumulated depreciation or other

provision for diminution in value, e.g., re- which links different points together 쐽
duction to net realisable value, or asset verb to link together in a network 왍 to
value which has been revalued down- network a television programme to
wards to reflect market conditions. Ab- send out the same television programme
breviation NBV. Also called written- through several TV stations
network culture /netw&k kltʃə/
network culture
down value
net cash flow /net kʃ fləυ/ noun the
net cash flow
noun a culture that is dependent on and
difference between the money coming in greatly influenced by communication us-
and the money going out ing global networks
networked system /netw&kt
networked system
net current assets /net krənt

net current assets
sets/ plural noun the current assets of a sstəm/ noun a computer system where
company, I.e. cash and stocks, less any li- several PCs are linked together so that
abilities. Also called net working capi- they all draw on the same database or use
tal the same server
networking /netw&kŋ/ noun 1. a
networking
net earnings /net &nŋz/ plural noun

net earnings
the total earnings of a business after tax working method where employees work
and other deductions at home on computer terminals, and send
the finished material back to the central
Net imperative /net mperətv/
Net imperative
office by email 2. the practice of keeping

noun the idea that an ability to use the In- in contact with former colleagues, school
ternet for business purposes is vital for or- friends, etc., so that all the members of the
ganisations that wish to be successful in group can help each other in their careers
the future
net working capital /net w&kŋ
net working capital
net income /net nkm/ noun a per-

net income
kpt(ə)l/ noun same as net current

son’s or organisation’s income which is assets
left after taking away tax and other deduc-
network management /netw&k
network management
tions
mnd$mənt/ noun the management of
net loss /net lɒs/ noun an actual loss,
net loss
co-ordinated computer systems and pro-

after deducting overheads grams so as to enable a number of users to
net margin /net mɑd$n/ noun the
net margin
have access to and receive information

percentage difference between received through a local area or wide area network
price and all costs, including overheads network organisation /netw&k
network organisation
net price /net pras/ noun the price of ɔ!ənazeʃ(ə)n/ noun an organisation
net price
goods or services which cannot be re- that operates as far as possible without a
duced by a discount traditional organisational structure. In-
net profit /net prɒft/ noun the
net profit
stead, it creates teams to handle specific

amount by which income from sales is projects and, when those projects are
larger than all expenditure. Also called completed, breaks up the teams and cre-
profit after tax ates new ones. 쒁 virtual organisation
network revolution 268

network revolution /netw&k revə new technology /nju teknɒləd$i/
network revolution new technology
| |
luʃ(ə)n/ noun the revolutionary change noun electronic devices which have re-
in business practices brought about by the cently been invented
growth of global networks NIC abbr National Insurance contribu-
NIC
network society /netw&k səsaəti/

network society
| tion
noun a society that regularly uses global niche /niʃ/ noun a special place in a
niche
networks for the purposes of work, com- market, occupied by one company (a
munication, and government ‘niche company’) 쑗 They seem to have
net worth /net w&θ/ noun the value of
net worth
discovered a niche in the market.

all the property of a person or company niche company /niʃ kmp(ə)ni/
niche company
after taking away what the person or com- noun company specialising in a particular
pany owes 쑗 The upmarket product is tar- type of product or service, which occu-
geted at individuals of high net worth. pies a market niche
net yield / net jild/ noun the profit
net yield
niche market /niʃ mɑkt/ noun a

niche market
from investments after deduction of tax small speciality market, where there is lit-
neurolinguistic programming
neurolinguistic programming
tle competition
/njυərəυlŋ!wstk prəυ!rmŋ/ nickel /nk(ə)l/ noun 1. a valuable met-
nickel
noun a theory of behaviour and commu- al traded on commodity exchanges, such

nication based on how people avoid as the London Metal Exchange 2. US a
change and how to help them to change. five cent coin
Abbreviation NLP night duty /nat djuti/ noun a period
night duty
new entrant /nju entrənt/ noun a

new entrant
of work during the night

company which is going into a market for
night rate /nat ret/ noun a cheap rate
night rate
the first time

for telephone calls at night
new home sales /nju həυm selz /
new home sales
night safe /nat sef/ noun a safe in

night safe
noun sales of new houses

the outside wall of a bank, where money
new issue /nju ʃu/ noun an issue of
new issue
and documents can be deposited at night,

new shares to raise finance for a company using a special door
new issues department /nju ʃuz
new issues department
night shift /nat ʃft/ noun a shift

night shift
dpɑtmənt/ noun the section of a bank

|
which works at night 쑗 There are thirty

which deals with issues of new shares men on the night shift.
news /njuz/ noun information about
news
Nikkei Average /nke v(ə)rd$/

Nikkei Average
things which have happened 쑗 She al-

|
ways reads the business news or financial an index of prices on the Tokyo Stock Ex-
change, based on about 200 leading
news first in the paper. 쑗 Financial mar- shares
kets were shocked by the news of the de-
nil /nl/ noun zero or nothing 쑗 The ad-
nil
valuation.
news agency /njuz ed$ənsi/ noun
news agency vertising budget has been cut to nil.
nil return /nl rt&n/ noun a report
nil return
an office which distributes news to news- |
papers and television stations showing no sales, income, tax, etc.

NLP abbr neurolinguistic programming
NLP
newsagent /njuzed$ənt/ noun a

newsagent
No., No abbr number

No.
person who runs a shop selling newspa-

pers and magazines no-claims bonus /nəυ klemz
no-claims bonus
newsletter /njuzletə/ noun 왍 com- bəυnəs/ noun 1. a reduction of premi-

newsletter
pany newsletter a printed sheet or small ums on an insurance policy because no

newspaper giving news about a company claims have been made 2. a lower premi-
news release /njuz r lis/ noun a um paid because no claims have been
news release
sheet giving information about a new made against the insurance policy
nominal /nɒmn(ə)l/ adjective (of a
nominal
event which is sent to newspapers and TV

and radio stations so that they can use it 쑗 payment) very small 쑗 They are paying a
The company sent out a news release nominal rent. 쑗 The employment agency
about the new product launch. makes a nominal charge for its services.
news stand /njuz stnd/ noun a nominal ledger /nɒmn(ə)l led$ə/
news stand nominal ledger
small wooden shop on a pavement, for noun a book which records a company’s
selling newspapers transactions in the various accounts
269 non-union labour

nominal share capital /nɒmn(ə)l vice, but does not work full-time for the
nominal share capital
ʃeə kpt(ə)l/ noun the total of the face company. Also called outside director
value of all the shares which a company is non-feasance /nɒnfiz(ə)ns/ noun a
non-feasance
authorised to issue according to its mem- failure to do something which should be

orandum of association done by law
nominal value /nɒmn(ə)l vlju/ non-negotiable instrument /nɒn n
nominal value non-negotiable instrument
noun same as face value !əυʃəb(ə)l nstrυmənt/ noun a docu-

nominate /nɒmnet/ verb to suggest
nominate
ment which cannot be exchanged for
someone for a job 왍 to nominate some- cash, e.g. a crossed cheque
non-payment /nɒn pemənt/ noun 왍
non-payment
one to a post to appoint someone to a post

without an election 왍 to nominate some- non-payment of a debt the act of not
one as proxy to name someone as your paying a debt that is due
proxy non-profit-making organisation
non-profit-making organisation
nomination /nɒmneʃ(ə)n/ noun the

nomination
/nɒnprɒftmekŋ ɔ!ənazeʃən/,
| | |
non-profit organisation /nɒn prɒft

|
act of nominating someone for a position

ɔ!ənazeʃ(ə)n/ noun an organisation
nominee /nɒmni/ noun a person
nominee
|
which is not allowed by law to make a

|
who is nominated, especially someone

who is appointed to deal with financial profit 쑗 Non-profit-making organisations
are exempted from tax. (NOTE: Non-profit
matters on your behalf
organisations include charities, profes-
COMMENT: Shares can be purchased and
held in nominee accounts so that the sional associations, trade unions, and
identity of the owner of the shares can- religious, arts, community, research,
not be discovered easily. and campaigning bodies. The US term
nominee account /nɒmni ə is non-profit corporation.)
nominee account
| |
kaυnt/ noun an account held on behalf non-recurring items /nɒn rk&rŋ

non-recurring items
of someone atəmz/ plural noun special items in a

COMMENT: Shares can be purchased and set of accounts which appear only once
held in nominee accounts so that the non-refundable /nɒn rfndəb(ə)l/
non-refundable
identity of the owner of the shares can- adjective not possible to refund 쑗 You
not be discovered easily.
will be asked to make a non-refundable
non- /nɒn/ prefix not
non-
deposit.
non-acceptance /nɒn əkseptəns/
non-acceptance
non-resident /nɒn rezd(ə)nt/ noun,

non-resident
|
noun a situation in which the person who adjective a person who is not considered
is to pay a bill of exchange does not ac- a resident of a country for tax purposes 쑗
cept it He has a non-resident bank account.
non-contributory pension plan
non-contributory pension plan non-returnable /nɒn rt&nəb(ə)l/

non-returnable
/nɒn kəntrbjυt(ə)ri penʃən pln/,

|
adjective which cannot be returned
non-contributory pension scheme non-returnable packing /nɒn r
non-returnable packing
/skim/ noun a pension scheme where a

|
t&nəb(ə)l pkŋ/ noun packing which

company, not the employee, pays all con- is to be thrown away when it has been
tributions 쑗 The company pension used and not returned to the sender
scheme is non-contributory. non-stop /nɒn stɒp/ adjective, ad-
non-stop
non-delivery /nɒn dlv(ə)r/ noun

non-delivery
|
verb without stopping 쑗 They worked
the failure to deliver goods that have been non-stop to finish the audit on time.
ordered non-sufficient funds /nɒn səfʃənt
non-sufficient funds
non-durables /nɒn djυərəb(ə)lz/, fndz/ noun US a lack of enough money

non-durables
non-durable goods /nɒn djυərəb(ə)l in a bank account to pay a cheque drawn

!υdz/ plural noun goods which are used on that account. Abbreviation NSF. Also
up soon after they have been bought, e.g. called insufficient funds, not suffi-
food or newspapers cient funds
non-exec /nɒn !zek/ noun same as non-taxable /nɒn tksəb(ə)l/ adjec-
non-exec
non-taxable
non-executive director tive not subject to tax 쑗 non-taxable in-

non-executive director /nɒn ! come 쑗 Lottery prizes are non-taxable.
non-executive director
zekjυtv darektə/ noun a director non-union labour /nɒn junjən

non-union labour
who attends board meetings and gives ad- lebə/ noun employees who do not be-
non-virtual hosting 270

long to trade unions employed by a com- tion. 쑗 Your order has been noted and will
pany be dispatched as soon as we have stock. 2.
non-virtual hosting /nɒn v&tjuəl to notice an advertisement in a publica-
non-virtual hosting
həυstŋ/ noun the most basic type of tion but not necessarily read or under-
hosting option, often provided free, in stand it
note of hand /nəυt əv hnd/ noun a
note of hand
which clients do not have their own do-

main names, but attach their names to the document stating that someone promises
web address of the hosting company to pay an amount of money on an agreed
(NOTE: This hosting option is only suita- date
notice /nəυts/ noun 1. a piece of writ-
notice
ble for small companies and has the dis-

advantage that clients cannot change ten information 쑗 The company secretary
their hosting company without changing pinned up a notice about the pension
their web address.) scheme. 2. an official warning that a con-
non-voting shares /nɒn vəυtŋ tract is going to end or that terms are go-
non-voting shares
ʃeəz/ plural noun shares which do not al- ing to be changed 왍 until further notice
low the shareholder to vote at meetings. 쒁 until different instructions are given 쑗
A shares You must pay £200 on the 30th of each
norm /nɔm/ noun the usual quantity or
norm
month until further notice. 3. official writ-
the usual rate 쑗 The output from this fac- ten information that an employee is leav-
tory is well above the norm for the indus- ing their job on a certain date 왍 she gave
try or well above the industry norm. in or handed in her notice she resigned
4. the time allowed before something
normal /nɔm(ə)l/ adjective usual or
normal
takes place 쑗 We require three months’

which happens regularly 쑗 Normal deliv- notice 왍 at short notice with very little
eries are made on Tuesdays and Fridays. warning 쑗 The bank manager will not see
쑗 Now that supply difficulties have been anyone at short notice. 왍 you must give
resolved we hope to resume normal serv- seven days’ notice of withdrawal you
ice as soon as possible. 왍 under normal must ask to take money out of the account
conditions if things work in the usual seven days before you want it 5. a legal
way 쑗 Under normal conditions a pack- document (such as telling a tenant to
age takes two days to get to Copenhagen. leave property which he is occupying) 왍
쑗 Normal working will be resumed as to give someone notice, to serve notice
soon as the men return to work on Mon- on someone to give someone a legal no-
day. tice 왍 to give a tenant notice to quit, to
nosedive /nəυzdav/ verb to fall very
nosedive
serve a tenant with notice to quit to in-

sharply 쑗 The share price nosedived after form a tenant officially that he has to
the chairman was arrested. leave the premises by a certain date 쑗 We
no-strike agreement /nəυ strak ə have given our tenant notice to quit.
no-strike agreement
!rimənt/, no-strike clause /nəυ notification /nəυtfkeʃ(ə)n/ noun

notification
strak klɔz/ noun a clause in an agree- the act of informing someone of some-
ment where the employees say that they thing
will never strike notify /nəυtfa/ verb 왍 to notify
notify
notary public /nəυtəri pblk/ noun someone of something to tell someone

notary public
a lawyer who has the authority to witness something formally 쑗 They were notified
documents and spoken statements, mak- of the arrival of the shipment. 쑗 The man-
ing them official (NOTE: The plural is no- agement were notified of the union’s deci-
taries public.) sion.
notional /nəυʃ(ə)n(ə)l/ adjective
notional
note /nəυt/ noun 1. a short document or

note
piece of writing, or a short piece of infor- probable but not known exactly or not
mation 쑗 to send someone a note 쑗 I left quantifiable
notional income /nəυʃ(ə)n(ə)l
notional income
a note on her desk. 2. same as banknote

3. paper showing that money has been nkm/ noun an invisible benefit which
borrowed 쐽 verb 1. to write down details is not money or goods and services
of something and remember them 쑗 your notional rent /nəυʃ(ə)n(ə)l rent/
notional rent
complaint has been noted 쑗 We note that noun a sum put into accounts as rent
the goods were delivered in bad condi- where the company owns the building it is
271 NYSE
occupying and so does not pay an actual er. 3. an amount in figures 쐽 verb to put a
rent figure on a document 쑗 to number an or-
not sufficient funds /nɒt sə der 쑗 I refer to your invoice numbered
not sufficient funds
fʃ(ə)nt fndz/ noun US same as non- 1234.

sufficient funds. abbreviation NSF numbered account /nmbəd ə
numbered account
nought /nɔt/ noun the figure 0 쑗 A mil- kaυnt/ noun a bank account, usually in
nought
lion pounds can be written as ‘£1m’ or as Switzerland, which is referred to only by

one and six noughts. (NOTE: Nought is a number, the name of the person holding
commoner in UK English; in US English, it being kept secret
zero is more usual.)
numeric /njumerk/, numerical
numeric
NS&I abbr National Savings & Invest-

NS&I
/njumerk(ə)l/ adjective referring to

|
ments numbers
null /nl/ adjective 1. with no meaning
null
numerical order /njumerk(ə)l

numerical order
2. which cannot legally be enforced 왍 the |
contract was declared null and void the ɔdə/ noun an arrangement by numbers
쑗 Put these invoices in numerical order. 왍
contract was said to be not valid 왍 to
render a decision null to make a decision in numerical order in the order of fig-
useless or to cancel it ures, e.g. 1 before 2, 33 before 34 쑗 Put
these invoices in numerical order.
nullification /nlfkeʃ(ə)n/ noun
nullification
numeric data /njumerk detə/

numeric data
an act of making something invalid |
nullify / nlfa/ verb to make some-

nullify
noun data in the form of figures
/njumerk
numeric keypad
thing invalid or to cancel something numeric keypad |
(NOTE: nullifying- nullified) kipd/ noun the part of a computer

number /nmbə/ noun 1. a quantity of keyboard which is a programmable set of
number
things or people 쑗 The number of persons numbered keys

on the payroll has increased over the last nursery /n&s(ə)ri/ noun a special
nursery
year. 쑗 The number of days lost through room or building where babies and small
strikes has fallen. 왍 a number of some 쑗 children can be looked after (not neces-
A number of the staff will be retiring this sarily on the company’s premises) 쑗 The
year. 2. a printed or written figure that company offers nursery provision to its
identifies a particular thing 쑗 Please staff. Compare crèche
write your account number on the back of NVQ
the cheque. 쑗 If you have a complaint to NVQ abbr National Vocational Qualifi-
make, always quote the batch number. 쑗 cation
NYSE
She noted the cheque number in the ledg- NYSE abbr New York Stock Exchange
O
O & M abbr organisation and methods gation to help out in another department
O & M
OAP abbr old age pensioner

OAP
쑗 There is no obligation to buy. 왍 two
oath /əυθ/ noun a legal promise stating
oath
weeks’ free trial without obligation the
that something is true 왍 he was under customer can try the item at home for two
oath he had promised in court to say what weeks without having to buy it at the end
was true of the test 왍 to be under an obligation to
do something to feel it is your duty to do
object /əbd$ekt/ verb to refuse to do
object
|
something 왍 he is under no contractual
something or to say that you do not accept obligation to buy he has signed no con-
something 쑗 to object to a clause in a tract which forces him to buy 2. a debt 왍
contract (NOTE: You object to some- to meet your obligations to pay your
thing.) debts
object and task technique
object and task technique
obligatory /əbl!ət(ə)ri/ adjective

obligatory
/ɒbd$ekt ən tɑsk teknik/ noun a

|
|
necessary according to the law or rules 쑗
method of budgeting in which the tasks Each member of the sales staff has to pass
required to achieve each objective are an obligatory medical examination.
identified and the cost of each task is then oblige /əblad$/ verb 왍 to oblige
oblige
estimated
|
someone to do something to make some-

objection /əbd$ekʃən/ noun 왍 to
objection
|
one feel he must do something 쑗 He felt
raise an objection to something to ob- obliged to cancel the contract.
ject to something 쑗 The union delegates o.b.o. abbr or best offer
o.b.o.
raised an objection to the wording of the

observe /əbz&v/ verb 1. to obey a rule
observe
agreement. |
or law 쑗 Failure to observe the correct

objective /əbd$ektv/ noun some-
objective
|
procedure will be punished. 쑗 Restau-
thing which you hope to achieve 쑗 The rants are obliged to observe the local fire
company has achieved its objectives. 쑗 regulations. 2. to watch or to notice what
We set the sales forces specific objectives. is happening 쑗 Officials have been in-
쑗 Our recruitment objectives are to have
structed to observe the conduct of the bal-
well-qualified and well-placed staff. 왍 lot for union president.
long-term or short-term objective an
obsolescence /ɒbsəles(ə)ns/ noun
obsolescence
aim which you hope to achieve within a |
few years or a few months 쐽 adjective the process of a product going out of date
considered from a general point of view because of progress in design or technol-
rather than from that of the person in- ogy, and therefore becoming less useful
volved 쑗 You must be objective in assess- or valuable
obsolescent /ɒbsəles(ə)nt/ adjec-
obsolescent
ing the performance of the staff. 쑗 They |
have been asked to carry out an objective tive becoming out of date
obsolete /ɒbsəlit/ adjective no longer
obsolete
survey of the market. Opposite subjec-

tive used 쑗 Computer technology changes so
obligate /ɒbl!et/ verb 왍 to be obli- fast that hardware soon becomes obso-
obligate
gated to do something to have a legal lete.

COMMENT: A product or asset may be-
duty to do something come obsolete because it is worn out, or
obligation / ɒbl!eʃ(ə)n/ noun 1. a
obligation
|
because new products have been devel-
duty to do something 쑗 There is no obli- oped to replace it.
273 off
obtain /əbten/ verb to get 쑗 to obtain a pension from a fund set up by the com-
obtain
supplies from abroad 쑗 to obtain an in- pany he or she has worked for, which is
junction against a company 쑗 We find related to the salary he or she was earning.
these items very difficult to obtain. 쑗 He Also called company pension scheme
obtained control by buying the founder’s occupier /ɒkjυpaə/ noun a person
occupier
shareholding. who lives in a property

occasional /əke$(ə)n(ə)l/ adjective occupy /ɒkjυpa/ verb 1. to live or
occasional occupy
which happens from time to time work in a property (such as a house, an of-
occupancy /ɒkjυpənsi/ noun the act fice, a hotel room) 쑗 All the rooms in the
occupancy
of occupying a property (such as a house, hotel are occupied. 쑗 The company occu-
an office, a room in a hotel) 왍 with imme- pies three floors of an office block. 쑗 The
diate occupancy empty and available to office occupied by the personnel manager.
be occupied immediately 2. 왍 to occupy a post to be employed in a
‘…while occupancy rates matched those job
of last year in July, August has been a ocean terminal /əυʃ(ə)n t&mn(ə)l/
ocean terminal
much poorer month than it was the year noun a building at a port where passen-
before’ [Economist] gers arrive and depart
occupancy rate /ɒkjυpənsi ret/ odd /ɒd/ adjective 1. 왍 a hundred odd
occupancy rate
odd
noun the average number of rooms occu- approximately one hundred 2. one of a
pied in a hotel over a period of time group 왍 we have a few odd boxes left we
shown as a percentage of the total number have a few boxes left out of the total ship-
of rooms 쑗 During the winter months the ment 왍 to do odd jobs to do various piec-
occupancy rate was down to 50%. es of work
occupant /ɒkjυpənt/ noun a person
occupant
odd-job-man /ɒd d$ɒb mn/ noun

odd-job-man
or company which occupies a property a person who does various pieces of work
occupation /ɒkjυ peʃ(ə)n/ noun 1.
occupation
odd lot /ɒd lɒt/ noun a group of mis-

odd lot
|
the act of living or staying in a place 왍 oc- cellaneous items for sale at an auction
cupation of a building act of occupying
oddments /ɒdmənts/ plural noun 1.
oddments
a building 2. a job or type of work 쑗 What items left over 2. left-over pieces of large
is her occupation? 쑗 His main occupa-
tion is house building. 쑗 It is not a well items, sold separately
odd size /ɒd saz/ noun a size which
odd size
paid occupation.
‘…the share of white-collar occupations in is not usual
OECD abbr Organisation for Economic
OECD
total employment rose from 44 per cent to

49 per cent’ [Sydney Morning Herald] Co-operation and Development
occupational /ɒkjυpeʃ(ə)nəl/ ad- ‘…calling for a greater correlation be-
occupational
jective referring to a job tween labour market policies, social poli-

occupational
occupational accident
accident cies and education and training, the OECD

warned that long-term unemployment
/ɒkjυpeʃ(ə)nəl ksd(ə)nt/ noun an
would remain unacceptably high without a
accident which takes place at work reassessment of labour market trends’
occupational disease /ɒkjυ
occupational disease
|
peʃ(ə)nəl dziz/ noun a disease which
|
OEM abbr original equipment manufac-
OEM
affects people in certain jobs turer

occupational hazard
occupational hazard
off /ɒf/ adverb 1. not working or not in

off
/ɒkjυpeʃ(ə)nəl hzəd/ noun a danger operation 쑗 to take three days off 쑗 The
which applies to certain jobs 쑗 Heart at- agreement is off. 쑗 They called the strike
tacks are one of the occupational hazards off. 쑗 We give the staff four days off at
of directors. Christmas. 쑗 It’s my day off tomorrow. 2.
occupational pension
occupational pension
lower than a previous price 쑗 The shares

/ɒkjυpeʃ(ə)nəl penʃə/ noun a pension closed 2% off. 쐽 preposition 1. subtracted
which is paid by the company by which from 쑗 to take £25 off the price 쑗 We give
an employee has been employed 10% off our usual prices. 2. not included
occupational pension scheme 왍 items off balance sheet or off balance
occupational pension scheme
/ɒkjυpeʃ(ə)nəl penʃən skim/ noun a sheet assets financial items which do not
pension scheme where the employee gets appear in a company’s balance sheet as
offer 274
assets, such as equipment acquired under month as a spate of initial public offerings
an operating lease 3. away from work 쑗 to disappointed followers’ [Wall Street Jour-
take time off work nal]
‘…its stock closed Monday at $21.875 a ‘…if the partnership supports a sale, a
share in NYSE composite trading, off 56% public offering of shares would be set for
from its high last July’ [Wall Street Jour- as early as the fourth quarter’ [Wall
nal] Street Journal]
offer period /ɒfə pəriəd/ noun a
offer period
offer /ɒfə/ noun 1. a statement that you

offer
are willing to give or do something, espe- time during which a takeover bid for a
cially to pay a specific amount of money company is open
offer price /ɒfə pras/ noun the price
offer price
to buy something 쑗 to make an offer for a

company 쑗 We made an offer of £10 a at which investors buy new shares or units
share. 쑗 We made a written offer for the in a unit trust. The opposite, i.e. the sell-
house. 쑗 £1,000 is the best offer I can ing price, is called the ‘bid price’, the dif-
make. 쑗 We accepted an offer of £1,000 ference between the two is the ‘spread’.
for the car. 왍 the house is under offer office /ɒfs/ noun 1. a set of rooms
office
someone has made an offer to buy the where a company works or where busi-
house and the offer has been accepted ness is done 왍 for office use only some-
provisionally 왍 we are open to offers we thing which must only be used in an office
are ready to discuss the price which we 2. a room where someone works and does
are asking 왍 or near offer US, or best of- business 쑗 Come into my office. 쑗 The hu-
fer or an offer of a price which is slightly man resources manager’s office is on the
less than the price asked 쑗 The car is for third floor. 3. a government department 4.
sale at £2,000 or near offer. 2. a statement a post or position 쑗 She holds or performs
that you are willing to sell something 3. a the office of treasurer
statement that you are willing to employ office block / ɒfs blɒk/ noun a build-
office block
someone 왍 she received six offers of ing which contains only offices
jobs or six job offers six companies told office design /ɒfs dzan/ noun the
office design
her she could have a job with them 4. a science or task of arranging the layout of
statement that a company is prepared to an office so that work can be done as effi-
buy another company’s shares and take ciently as possible
the company over 쐽 verb 1. to say that
office equipment / ɒfs kwpmənt/
office equipment
you are willing to do something 쑗 We of- |
fered to go with them to the meeting. 왍 to noun furniture and machines needed to
offer someone a job to tell someone that make an office work
office furniture /ɒfs f&ntʃə/ noun
office furniture
they can have a job in your company 쑗

She was offered a directorship with Smith chairs, desks, filing cabinets used in an
Ltd. 2. to say that you are willing to pay a office 쑗 an office furniture store 쑗 He
specific amount of money for something deals in secondhand office furniture.
쑗 to offer someone £100,000 for their office hours /ɒfs aυəz/ plural noun
office hours
house 쑗 She offered £10 a share. 3. to say the time when an office is open 쑗 Do not
that you are willing to sell something 쑗 make private phone calls during office
We offered the house for sale. 쑗 They are hours.
offering special prices on winter holidays office job /ɒfs d$ɒb/ noun a job in an
office job
in the USA. office

offer for sale / ɒfə fə sel/ noun a sit- office junior /ɒfs d$uniə/ noun a
offer for sale office junior
uation where a company advertises new young man or woman who does all types
shares for sale to the public as a way of of work in an office
launching itself on the Stock Exchange office
office messenger
messenger /ɒfs
(NOTE: The other ways of launching a mes(ə)nd$ə/ noun a person who carries
company are a ‘tender’ or a ‘placing.’) messages from one person to another in a
offering /ɒf(ə)rŋ/ noun an action of
offering
large office
stating that you are prepared to sell some- Office of Fair Trading /ɒfs əv feə
Office of Fair Trading
thing at some price tredŋ/ noun a government department

‘…shares of newly public companies post- which protects consumers against unfair
ed their worst performance of the year last or illegal business. Abbreviation OFT
275 offshore
office politics /ɒfs pɒltks/ noun officially he has given us a lot of advice
office politics
the ways in which the people in a particu- about it.

lar workplace relate to and behave to- official mediator /əfʃ(ə)l
official mediator
wards each other, especially the ways in midietə/ noun a government official
which people acquire power and status or who tries to make the two sides in an in-
use the power and status they have dustrial dispute agree
office premises /ɒfs premisz/ plu- official receiver /əfʃ(ə)l rsivə/
office premises official receiver
| |
ral noun building which houses an office noun a government official who is ap-
or shop pointed to run a company which is in fi-
office space /ɒfs spes/ noun a
office space
nancial difficulties, to pay off its debts as
space available for offices or occupied by far as possible and to close it down 쑗 The
offices 쑗 We are looking for extra office company is in the hands of the official re-
space. ceiver.
official return /əfʃ(ə)l rt&n/ noun
official return
office staff /ɒfs stɑf/ noun people

office staff
| |
an official report
who work in offices
official strike /əfʃ(ə)l strak/ noun
official strike
office supplies /ɒfs səplaz/ noun

office supplies |
|
a strike which has been approved by the
stationery and furniture used in an office main office of a union
office worker /ɒfs w&kə/ noun a
office worker
officio / əfʃəυ/ 쏡 ex officio

officio
person who works in an office off-licence /ɒf las(ə)ns/ noun 1. a

off-licence
official /əfʃ(ə)l/ adjective 1. from a

official
|
shop which sells alcohol for drinking at
government department or organisation 쑗 home 2. a licence to sell alcohol for drink-
She went to France on official business. 쑗 ing away from the place where you buy it
He left official documents in his car. 쑗 off-line /ɒf lan/ adverb not connected
off-line
She received an official letter of explana- to a network or central computer

tion. 왍 speaking in an official capacity
offload /ɒfləυd/ verb to pass some-
offload
speaking officially 왍 to go through offi- |
cial channels to deal with officials, espe- thing which you do not want to someone
cially when making a request 2. done or else 왍 to offload excess stock to try to
approved by a director or by a person in sell excess stock 왍 to offload costs onto
authority 쑗 This must be an official order a subsidiary company to try to get a sub-
– it is written on the company’s headed sidiary company to pay some charges so
paper. 쑗 This is the union’s official policy. as to reduce tax
왍 the strike was made official the local off-peak /ɒf pik/ adjective not during
off-peak
strike was approved by the main trade un- the most busy time
off-peak period /ɒf pik pəriəd/
off-peak period
ion office 쐽 noun a person working in a

government department 쑗 airport offi- noun the time when business is less busy
cials inspected the shipment 쑗 Govern- off-peak tariff /ɒf pik trf/ noun
off-peak tariff
ment officials stopped the import licence. lower charges used when the service is
왍 minor official a person in a low posi- not busy
tion in a government department 쑗 Some off-season /ɒf siz(ə)n/ noun the less
off-season
minor official tried to stop my request for busy season for travel, usually during the
building permission. winter 쑗 Air fares are cheaper in the off-
officialese /əfʃəliz/ noun the lan-
officialese
| | season.
guage used in government documents off-season tariff /ɒf siz(ə)n trf/
off-season tariff
which can be difficult to understand noun cheap fares which are charged in a
official exchange rate /əfʃ(ə)l ks
official exchange rate
| | season when there is less business

tʃend$ ret/ noun an exchange rate offset /ɒfset/ verb to balance one thing
offset
which is imposed by the government 쑗 against another so that they cancel each
The official exchange rate is ten to the other out 쑗 to offset losses against tax 쑗
dollar, but you can get fifty on the black Foreign exchange losses more than offset
market. profits in the domestic market. (NOTE: off-
officially /əfʃ(ə)li/ adverb according setting – offset)
officially
to what is said in public 쑗 Officially he offshore /ɒfʃɔ/ adjective, adverb 1.

offshore
knows nothing about the problem, but un- on an island or in the sea near to land 쑗 an
offshore fund 276

offshore oil field 쑗 an offshore oil plat- old age pension /əυld ed$ penʃən/
old age pension
form 2. on an island which is a tax haven noun a state pension given to people over
3. based outside a country, especially in a some age (currently to a man who is 65 or
tax haven to a woman who is 60)
offshore fund /ɒfʃɔ fnd/ noun a
offshore fund
old age pensioner /əυld ed$

old age pensioner
fund which is based outside the UK, and penʃ(ə)nə/ noun a person who receives
usually in a country which has less strict the retirement pension. Abbreviation
taxation than in the UK, such as the Baha- OAP
mas
old boy network /əυld bɔ netw&k/
old boy network
off-the-job training /ɒf ðə d$ɒb

off-the-job training
noun the practice of using long-standing

trenŋ/ noun training given to employ- key contacts to appoint people to jobs or
ees away from their place of work, such to get a job or to do business. 쒁 network-
as at a college or school ing
off-the-shelf /ɒf ðə ʃelf/ adjective,
off-the-shelf
old-established / əυld stblʃt/

old-established
adverb ready-made according to a regular adjective (company or brand) which has

design been in existence for a long time 쑗 The
off-the-shelf company /ɒf ðə ʃelf
off-the-shelf company
old-established family business was

kmp(ə)ni/ noun a company which has bought by a group of entrepreneurs.
already been registered by an accountant ombudsman /ɒmbυdzmən/ noun 1.
ombudsman
or lawyer, and which is ready for sale to a management employee who is given the
someone who wants to set up a new com- freedom to move around the workplace to
pany quickly locate and remedy unfair practices (NOTE:
OFT
OFT abbr Office of Fair Trading The plural is ombudsmen.) 2. an official

0800 number /əυ et hndrəd
0800 number
who investigates complaints by the public

nmbə/ telephone number which can be against government departments or other
used to reply to advertisements (the sup- large organisations
plier pays for the call, not the caller) ‘…radical changes to the disciplinary sys-
(NOTE: The US term is 800 number.) tem, including appointing an ombudsman
oil /ɔl/ noun a natural liquid found in the to review cases where complainants are
oil
ground, used to burn to give power not satisfied with the outcome, are pro-
posed in a consultative paper the Institute
‘…the biggest surprise of 1999 was the re- of Chartered Accountants issued last
bound in the price of oil. In the early month’ [Accountancy]
months of the year commentators were
COMMENT: There are several ombuds-
talking about a fall to $5 a barrel but for men: the main one is the Parliamentary
the first time in two decades, the oil ex- Commissioner, who is a civil servant and
porting countries got their act together, investigates complaints against govern-
limited production and succeeded in push- ment departments. The Banking Om-
ing prices up’ [Financial Times] budsman, the Investment Ombudsman,
oil-exporting country /ɔl k the Building Societies Ombudsman, the
oil-exporting country
Pensions Ombudsman and the Insur-

spɔtŋ kntri/ noun a country which ance Ombudsman are independent offi-
produces oil and sells it to others cials who investigate complaints by the
oil field /ɔl fild/ noun an area of land
oil field
public against banks, financial advisers,

or sea under which oil is found building societies, pension funds or in-
surance companies. They are all regulat-
country /ɔ lm
oil-importing country
oil-importing |
ed by the Financial Services Authority.
pɔtŋ kntri/ noun a country which omission /əυmʃ(ə)n/ noun a thing
omission
imports oil which has been omitted, or the act of

oil platform /ɔl pltfɔm/ noun a
oil platform
|
omitting something
large construction with equipment for
omit /əυmt/ verb 1. to leave something
omit
making holes in the ground to find oil

|
out, not to put something in 쑗 Her assist-

oil-producing country /ɔl prə
oil-producing country
|
ant omitted the date when typing the con-
djusŋ kntri/ noun a country which tract. 2. not to do something 쑗 He omitted
produces oil to tell the managing director that he had
oil well /ɔl wel/ noun a hole in the
oil well
lost the documents. (NOTE: omitting –

ground from which oil is pumped omitted)
277 op-ed
omnibus agreement /ɒmnbəs ə to another, but does not buy anything in
omnibus agreement
!rimənt/ noun an agreement which return

covers many different items online /ɒnlan/; /ɒnlan/ adjective,
online
on / ɒn/ preposition 1. being a member of adverb linked via a computer directly to

on
a group 쑗 to sit on a committee 쑗 She is another computer, a computer network or,

on the boards of two companies. 쑗 We especially, the Internet; on the Internet 쑗
have 250 people on the payroll. 쑗 She is The sales office is online to the ware-
on our full-time staff. 2. in a certain way house. 쑗 We get our data online from the
쑗 on a commercial basis 쑗 to buy some- stock control department.
thing on approval 쑗 to buy a car on hire- ‘…there may be a silver lining for ‘clicks-
purchase 쑗 to get a mortgage on easy and-mortar’ stores that have both an online
terms 쑗 He is still on probation. 쑗 She is and a high street presence. Many of these
employed on very generous terms. 왍 on are accepting returns of goods purchased
the understanding that on condition online at their traditional stores. This is a
that, provided that 쑗 We accept the terms service that may make them more popular
as consumers become more experienced
of the contract, on the understanding that online shoppers’ [Financial Times]
it has to be ratified by our main board. 3.
at a time 쑗 The shop is closed on Wednes- ‘…a survey found that even among expe-
rienced users – those who shop online at
day afternoons. 쑗 We work 7 hours a day least once a month – about 10% aban-
on weekdays. 쑗 The whole staff has the doned a planned purchase because of an-
day off on May 24th. 4. doing something noying online delays and procedures’ [Fi-
쑗 The director is on holiday. 쑗 She is in nancial Times]
the States on business. 쑗 The switchboard ‘…some online brokers failed to foresee
operator is on duty from 6 to 9. the huge increase in private dealing and
oncosts /ɒnkɒsts/ plural noun money
oncosts
had problems coping with the rising vol-

spent in producing a product, which does ume. It has been the year when private in-
not rise with the quantity of the product vestors were able to trade online quickly,
made. Also called fixed costs cheaply, and on the whole, with little both-
er’ [Financial Times]
one-man business /wn mn
one-man business
online community /ɒnlan kə

online community
bzns/, one-man firm /wn mn | |
f&m/, one-man company /wn mn mjunti/ noun a network of people who

kmp(ə)ni/ noun a business run by one communicate with one another and with
person alone with no staff or partners an organisation through interactive tools
such as e-mail, discussion boards and
one-off /wn ɒf/ adjective done or
one-off
chat systems
made only once 쑗 one-off item 쑗 one-off
o.n.o. abbr or near offer
o.n.o.
deal 쑗 one-off payment

on-the-job training /ɒn ðə d$ɒb
on-the-job training
onerous /əυnərəs/ adjective heavy,

onerous
trenŋ/ noun training given to employ-

needing a lot of effort or money 왍 the re- ees at their place of work
payment terms are particularly oner-
on the side /ɒn ðə sad/ adverb sep-
on the side
ous the loan is particularly difficult to pay

back arate from your normal work, and hidden
from your employer 쑗 He works in an ac-
one-sided /wn sadd/ adjective fa-
one-sided
countant’s office, but he runs a construc-

vouring one side and not the other in a ne- tion company on the side. 쑗 Her salary is
gotiation too small to live on, so the family lives on
one-stop /wn stɒp / adjective offer-
one-stop
what she can make on the side.

ing a wide range of services to a custom- on time /ɒn tam/ adverb the right
on time
er, not necessarily services which are re- time 쑗 the plane was on time 쑗 you will
lated to the product or services which the have to hurry if you want to get to the
company normally sells meeting on time or if you want to be on
one-way fare /wn we feə/ noun time for the meeting
one-way fare
US a fare for a journey from one place to OPEC /əυpek/ abbr Organization of
OPEC
another Petroleum Exporting Countries

one-way trade /wn we tred/ op-ed /ɒp ed/ noun in a newspaper, a
one-way trade op-ed
noun a situation where one country sells page that has signed articles expressing
open 278
personal opinions, usually found opposite open-ended /əυpən endd/ adjective
open-ended
the editorial page with no fixed limit or with some items not
open /əυpən/ adjective 1. at work, not
open
specified 쑗 They signed an open-ended

closed 쑗 The store is open on Sunday agreement. 쑗 The candidate was offered
mornings. 쑗 Our offices are open from 9 an open-ended contract with a good ca-
to 6. 쑗 They are open for business every reer plan. (NOTE: The US term is open-
day of the week. 2. ready to accept some- end.)
thing 왍 the job is open to all applicants open-ended credit /əυpən endd
open-ended credit
anyone can apply for the job 왍 we will kredt/ noun same as revolving credit
keep the job open for a month we will open general licence /əυpən
open general licence
not give the job to anyone else for a month d$en(ə)rəl las(ə)ns/ noun an import li-
왍 open to offers ready to accept a reason- cence for all goods which are subject to
able offer 왍 the company is open to of- special import restrictions
fers for the empty factory the company opening /əυp(ə)nŋ/ noun 1. the act of
opening
is ready to discuss an offer which is lower starting a new business 쑗 the opening of a
than the suggested price 쐽 verb 1. to start new branch 쑗 the opening of a new mar-
a new business 쑗 She has opened a shop ket or of a new distribution network 2. an
in the High Street. 쑗 We have opened a opportunity to do something 쐽 adjective
branch in London. 2. to start work, to be being at the beginning, or the first of sev-
at work 쑗 The office opens at 9 a.m. 쑗 We eral
open for business on Sundays. 3. to begin
opening balance /əυp(ə)nŋ
opening balance
something 왍 to open negotiations to be-

gin negotiating 쑗 She opened the discus- bləns/ noun a balance at the beginning
sions with a description of the product. 쑗 of an accounting period
opening bid /əυp(ə)nŋ bd/ noun the
opening bid
The chairman opened the meeting at

10.30. 4. to set something up or make first bid at an auction
something available 쑗 to open a bank ac- opening entry /əυp(ə)nŋ entri/
opening entry
count 쑗 to open a line of credit 쑗 to open noun the first entry in an account
a loan 5. 왍 shares opened lower share opening hours /əυp(ə)nŋ aυəz/ plu-
opening hours
prices were lower at the beginning of the ral noun the hours when a shop or busi-
day’s trading ness is open
‘…after opening at 79.1 the index touched opening price /əυp(ə)nŋ pras/
opening price
a peak of 79.2 and then drifted to a low of noun a price at the start of a day’s trading
78.8’ [Financial Times]
opening session /əυp(ə)nŋ
opening session
open up phrasal verb 왍 to open up

new markets to work to start business seʃ(ə)n/ noun the first part or last part of
in markets where such business has not a conference
opening stock /əυp(ə)nŋ stɒk/
opening stock
been done before

noun on a balance sheet, the closing stock
open account /əυpən əkaυnt/ noun
open account
at the end of one accounting period that is

an account where the supplier offers the transferred forward and becomes the
purchaser credit without security opening stock in the one that follows
open cheque /əυpən tʃek/ noun
open cheque
(NOTE: The US term is beginning in-

same as uncrossed cheque ventory.)
communication /əυpən opening time /əυp(ə)nŋ tam/ noun
open communication
open
opening time
kəmjunkeʃ(ə)n/ noun a policy in-

| the time when a shop or office starts work
tended to ensure that employees are able open market /əυpən mɑkt/ noun a
open market
to find out everything they want to know market where anyone can buy or sell
about their organisation open-plan office /əυpən pln ɒfs/
open-plan office
open credit / əυpən kredt/ noun

open credit
noun a large room divided into smaller

credit given to good customers without working spaces with no fixed divisions
security between them
open-door policy /əυpən dɔ open pricing /əυpən prasŋ/ noun
open-door policy open pricing
pɒlsi/ noun a policy in which a country the attempt by companies to achieve some
accepts imports from all other countries cooperation and conformity in pricing 쑗
on equal terms Representatives from the major compa-
279 operations review

nies in the industry are meeting to estab- operating income /ɒpəretŋ
operating income
lish an open-pricing policy. nkm/, operating profit /ɒpəretŋ

open standard /əυpən stndəd/ prɒft/ noun the profit made by a com-
open standard
noun a standard that allows computers pany in its usual business. Also called op-
and similar pieces of equipment made by erating earnings
different manufacturers to operate with operating manual /ɒpəretŋ
operating manual
each other mnjυəl/ noun a book which shows

open system /əυpən sstəm/ noun how to work a machine
open system
1. a flexible type of organisation, which operating system /ɒpəretŋ

operating system
allows employees freedom to work in sstəm/ noun the main program which
their own way 쑗 An open system can al- operates a computer
low employees to choose their own work- operation /ɒpəreʃ(ə)n/ noun 1. an
operation
ing hours. 2. a computer operating system activity or a piece of work, or the task of
that users are freely allowed to develop running something 쑗 the company’s op-
applications for erations in West Africa 쑗 He heads up the
open systems thinking /əυpən operations in Northern Europe. 2. 왍 in
open systems thinking
sstəms θŋkŋ/ noun an approach to operation working or being used 쑗 The

learning and problem-solving in which system will be in operation by June. 쑗 The
people the behaviour of a system, then ex- new system came into operation on Janu-
plore possible ways for improving it ary 1st.
open ticket /əυpən tkt/ noun a
open ticket
‘…a leading manufacturer of business, in-

ticket which can be used on any date dustrial and commercial products requires
operate /ɒpəret/ verb 1. to be in force
operate
a branch manager to head up its mid-west-
쑗 The new terms of service will operate
ern Canada operations based in Winnipeg’
[Globe and Mail (Toronto)]
from January 1st. 쑗 The rules operate on
operational /ɒpəreʃ(ə)nəl/ adjec-
operational
inland postal services only. 2. to make |
something work or function 왍 to operate tive 1. referring to the day-to-day activi-

a machine to make a machine work 쑗 He ties of a business or to the way in which
is learning to operate the new telephone something is run 2. working or in opera-
switchboard. 3. to do business, or to run a tion 왍 the system became operational
business or a machine on June 1st the system began working on
‘…the company gets valuable restaurant June 1st
operational audit /ɒpəreʃ(ə)nəl
operational audit
locations which will be converted to the |
family-style restaurant chain that it oper- ɔdt/ noun a systematic review of the
ates and franchises throughout most parts systems and procedures used in an organ-
of the US’ [Fortune] isation in order to assess whether they are
operating /ɒpəretŋ/ noun the gener- being carried out efficiently and effective-
operating
al running of a business or of a machine ly. Also known as management audit,

‘…the company blamed over-capacity and operations audit
operational budget /ɒpəreʃ(ə)nəl
operational budget
competitive market conditions in Europe

for a £14m operating loss last year’ bd$t/ noun a forecast of expenditure
[Financial Times] on running a business
/ɒpəretŋ operational costs /ɒpəreʃ(ə)nəl
operating budget
operating budget
operational costs
bd$t/ noun a forecast of income and kɒsts/ plural noun the costs of running a
expenditure over a period of time business
operating costs /ɒpəretŋ kɒsts/
operating costs
operational planning
operational planning
plural noun the costs of the day-to-day /ɒpəreʃ(ə)nəl plnŋ/ noun the plan-
activities of a company. Also called oper- ning of how a business is to be run
ating expenses, running costs operational
operational research
research
operating earnings /ɒpəretŋ /ɒpəreʃ(ə)nəl rs&tʃ/ noun a study of
operating earnings
&nŋz/ plural noun same as operating a company’s way of working to see if it

income can be made more efficient and profitable
operating expenses /ɒpəretŋ k operations review /ɒpəreʃ(ə)nz r
operating expenses operations review
| |
spenss/ plural noun same as operating vju/ noun an act of examining the way
costs in which a company or department works
operative 280
to see how it can be made more efficient oppose /əpəυz/ verb to try to stop
oppose
and profitable something happening; to vote against

operative /ɒp(ə)rətv/ adjective oper- something 쑗 A minority of board mem-
operative
ating or working 쑗 The new system has bers opposed the motion. 쑗 We are all op-
been operative since June 1st 왍 to be- posed to the takeover.
come operative to start working 쐽 noun opposite number /ɒpəzt nmbə/
opposite number
a person who operates a machine which noun a person who has a similar job in an-
makes a product 쑗 A skilled operative can other company 왍 John is my opposite
produce 250 units per hour. number in Smith’s John has the same
operator /ɒpəretə/ noun 1. a person
operator
job in Smith’s as I have here

who works a machine 쑗 a keyboard oper- optimal /ɒptm(ə)l/ adjective best
optimal
ator 쑗 a computer operator 2. a person optimum /ɒptməm/ adjective best 쑗

optimum
who works a telephone switchboard 쑗 The market offers optimum conditions for
switchboard operator 쑗 to call the opera- sales.
tor or to dial the operator 쑗 to place a call
opt-in /ɒpt n/ noun a method by which
opt-in
through or via the operator 3. a person

who runs a business 4. (on the Stock Ex- users can register with a website if they
change) a person who buys and sells want to receive particular information or
shares hoping to make a quick profit services from it. In opt-in, users must pro-
‘…a number of block bookings by Ameri- vide their e-mail addresses, so that the
can tour operators have been cancelled’ website owner can send them e-mails.
option /ɒpʃən/ noun the opportunity to
option
[Economist]
opinion /əpnjən/ noun a piece of ex- buy or sell something within a fixed peri-
opinion
od of time at a fixed price 왍 to have first

|
pert advice 쑗 the lawyers gave their opin-

ion 쑗 to ask an adviser for his opinion on option on something to have the right to
a case be the first to have the possibility of de-
opinion-former /əpnjən fɔmə/,
opinion-former
|
ciding something 왍 to grant someone a
opinion-leader /əpnjən lidə/ noun
|
six-month option on a product to allow
someone well known whose opinions in- someone six months to decide if they
fluence others in society 쑗 A pop-star is want to manufacture the product 왍 to
the ideal opinion-leader if we are aiming take up an option or to exercise an op-
at the teenage market. 쑗 The celebrity tion to accept the option which has been
used in the sales promotion campaign offered and to put it into action 쑗 They ex-
was not respected enough to be a true ercised their option or they took up their
opinion-former. option to acquire sole marketing rights to
the product. 왍 I want to leave my op-
opinion poll /əpnjən pəυl/ noun the
opinion poll
tions open I want to be able to decide

activity of asking a sample group of peo-
what to do when the time is right 왍 to
ple what their opinion is, so as to guess take the soft option to decide to do
the opinion of the whole population 쑗 something which involves the least risk,
Opinion polls showed that the public pre- effort or problems
ferred butter to margarine. 쑗 Before
optional /ɒpʃ(ə)n(ə)l/ adjective able
optional
starting the new service, the company

carried out nationwide opinion polls. to be done or not done, taken or not taken,
OPM abbr other people’s money
OPM
as a person chooses 쑗 The insurance cov-
er is optional. 쑗 Attendance at staff meet-
opportunity /ɒpətjunti/ noun a
opportunity
|
ings is optional, although the manage-
chance to do something successfully ment encourages employees to attend.
‘…the group is currently undergoing a pe-
optional extra /ɒpʃən(ə)l ekstrə/
optional extra
riod of rapid expansion and this has creat-

ed an exciting opportunity for a qualified noun an item that is not essential but can
accountant’ [Financial Times] be added if wanted
option contract /ɒpʃən kɒntrkt/
option contract
opportunity cost /ɒpətjunt

opportunity cost
kɒst/ noun the cost of a business initia- noun a right to buy or sell shares at a fixed
tive in terms of profits that could have price
been gained through an alternative plan 쑗 option dealing /ɒpʃən dilŋ/ noun
option dealing
It’s a good investment plan and we will the activity of buying and selling share
not be deterred by the opportunity cost. options
281 organisational analysis

option to purchase /ɒpʃən tə order fulfilment /ɔdə fυlflmənt/
option to purchase order fulfilment
p&tʃs/ noun an option which gives noun the process of supplying items
someone the possibility to buy something which have been ordered
within a period of time order number /ɔdə nmbə/ noun
order number
orange goods /ɒrnd$ !υdz/ plural the reference number printed on an order
orange goods
noun goods which are not bought as often order picking /ɔdə pkŋ/ noun the
order picking
as fast-moving items but are replaced process of collecting various items in a

from time to time, e.g. clothing. Compare warehouse in order to make up an order to
red goods, yellow goods be sent to a customer
order /ɔdə/ noun 1. the way in which order processing / ɔdə prəυsesŋ/
order order processing
records such as filing cards or invoices are noun the work of dealing with orders
arranged 쑗 in alphabetical or numerical ordinary member /ɔd(ə)n(ə)ri
ordinary member
order 2. working arrangement 왍 machine membə/ noun a person who pays a sub-
in full working order a machine which is scription to belong to a group
ready and able to work properly 왍 the tel- ordinary resolution /ɔd(ə)n(ə)ri
ordinary resolution
ephone is out of order the telephone is rezəluʃ(ə)n/ noun a resolution put be-
not working 왍 is all the documentation
|
fore an AGM, usually referring to some

in order? are all the documents valid and general procedural matter, and which re-
correct? 3. an official request for goods to quires a simple majority of votes to be ac-
be supplied 쑗 to give someone an order or cepted
to place an order with someone for twenty
ordinary shareholder /ɔd(ə)n(ə)ri
ordinary shareholder
filing cabinets 쑗 The management or-

dered the workforce to leave the factory. 왍 ʃeəhəυldə/ noun a person who owns or-
to fill an order, to fulfil an order to sup- dinary shares in a company
ordinary shares /ɔd(ə)n(ə)ri ʃeəz/
ordinary shares
ply items which have been ordered 쑗 We

are so understaffed we cannot fulfil any plural noun normal shares in a company,
more orders before Christmas. 왍 items which have no special benefits or restric-
available to order only items which will tions (NOTE: The US term is common
be manufactured only if someone orders stock.)
them 왍 on order ordered but not deliv- organic growth / ɔ!nk !rəυθ/
organic growth
ered 쑗 This item is out of stock, but is on noun same as internal growth
order. 4. an item which has been ordered organisation /ɔ!ənazeʃ(ə)n/, or-
organisation
쑗 The order is to be delivered to our ganization noun 1. a way of arranging

warehouse. 쑗 That filing cabinet contains something so that it works efficiently 쑗
staff records ordered by name. 5. an in- the organisation of the head office into
struction 6. a document which allows departments 쑗 The chairman handles the
money to be paid to someone 쑗 She sent organisation of the AGM. 쑗 The organi-
us an order on the Chartered Bank. 7. 왍 sation of the group is too centralised to be
pay to Mr Smith or order pay money to efficient. 2. a group or institution which is
Mr Smith or as he orders 왍 pay to the or- arranged for efficient work
der of Mr Smith pay money directly to ‘…working with a client base which in-
Mr Smith or to his account 쐽 verb 1. to cludes many major commercial organiza-
ask for goods to be supplied 쑗 They or- tions and nationalized industries’ [Times]
dered a new Rolls Royce for the managing
/ɔ!əna
organisational
director. 2. to give an official request for organisational |
zeʃ(ə)n(ə)l/, organizational adjective

something to be done or for something to
referring to the way in which something is
be supplied 쑗 to order twenty filing cabi- organised 쑗 The paper gives a diagram of
nets to be delivered to the warehouse 3. to
put in a certain way 쑗 The address list is the company’s organisational structure.
organisational analysis
ordered by country. 쑗 That filing cabinet organisational analysis

contains invoices ordered by date. /ɔ!ənazeʃ(ə)n(ə)l ənləss/ noun a
|
type of analysis carried out by an organi-

order book /ɔdə bυk/ noun a book
order book
sation that is intended to identify areas

which records orders received where it is inefficient and ways in which
order form /ɔdə fɔm/ noun a pad of
order form
it can be restructured so as to become

blank forms for orders to be written on more efficient
organisational chart 282

chart /ɔ!əna organise /ɔ!ənaz/, organize verb 1.
organisational chart organise
organisational |
zeʃ(ə)n(ə)l tʃɑt/ noun a chart showing to set up a system for doing something 쑗
the hierarchical relationships between The company is organised into six profit
employees in a company centres. 쑗 The group is organised by sales
organisational development
organisational development areas. 2. to arrange something so that it

/ɔ!ənazeʃ(ə)n(ə)l dveləpmənt/ |
works
noun 1. a form of management training ‘…we organize a rate with importers who
designed to affect the whole organisation have large orders and guarantee them
as well as the individual employees 2. space at a fixed rate so that they can plan
planning that is directed towards bringing their costs’ [Lloyd’s List]
organised labour /ɔ!ənazd lebə/
organised labour
about far-reaching changes in an organi-

sation that will enable it to adapt to noun employees who are members of
changing market conditions and set itself trade unions
new objectives ‘…governments are coming under in-
organisation and methods
organisation and methods creasing pressure from politicians, organ-

/ɔ!ənazeʃ(ə)n ən meθədz/ noun a ized labour and business to stimulate eco-
nomic growth’ [Duns Business Month]
process of examining how an office
organiser /ɔ!ənazə/ noun a person
organiser
works, and suggesting how it can be made

more efficient. Abbreviation O & M who arranges things efficiently 쑗 Address
any queries about the venue to the confer-
/ɔ!əna
organisation chart
organisation chart |
ence organizer.
zeʃ(ə)n tʃɑt/ noun same as organisa-
organising committee /ɔ!ənazŋ
organising committee
tional chart
Organisation for Economic Co-operation and Development kəmti/ noun a group of people who ar-
|
Organisation for Economic Co- range something 쑗 He is a member of the

operation and Development organizing committee for the conference.
/ɔ!ənazeʃ(ə)n fər ikənɒmk kəυ
Organization of Petroleum Ex-
| | Organization of Petroleum Exporting Countries
ɒpəreʃ(ə)n ən dveləpmənt/ noun an

porting Countries / ɔ!ənazeʃ(ə)n
|
organisation representing the industrial-

ised countries, aimed at encouraging in- əv pətrəυliəm ekspɔtŋ kntriz/
| |
ternational trade, wealth and employment noun a group of major countries who are
in member countries. Abbreviation producers and exporters of oil. Abbrevia-
OECD tion OPEC
oriented /ɔrientd/, orientated
oriented
organisation hierarchy /ɔ!əna

organisation hierarchy
/ɔriəntetd/ adjective working in a

|
zeʃ(ə)n haərɑki/ noun the traditional

way that authority is structured within an certain direction 쑗 a market-orientated
approach 왍 export-oriented company
organisation, that is, in a series of layers company which produces goods mainly
arranged vertically, each layer consisting for export
of people of equal rank who are superior
origin /ɒrd$n/ noun the place where
origin
to the people in the layers below and sub-

ordinate to the people in the layers above. something or someone originally comes
During the later 20th and early 21st cen- from 쑗 spare parts of European origin
original /ərd$ən(ə)l/ adjective which
original
turies the numbers of layers within the hi- |
erarchies of large organisations have of- was used or made first 쑗 They sent a copy
ten been greatly reduced as a result of of the original invoice. 쑗 He kept the orig-
downsizing, leading to so-called flat or- inal receipt for reference. 쐽 noun the first
ganisations where there is greater em- copy made 쑗 Send the original and file
ployee empowerment. two copies.
organisation pyramid /ɔ!əna original equipment manufacturer
organisation pyramid original equipment manufacturer
zeʃ(ə)n prəmd/ noun a structure of /ərd$ən(ə)l kwpmənt mnjυ

| | |
an organisation with many employees at fktʃərə/ noun a company that makes

lower levels and fewer at the top pieces of equipment that are designed to
organisation theory
organisation theory /ɔ!əna |

work with a basic and common product
zeʃ(ə)n θəri/ noun the study of organ- such as a computer
originally /ərd$ən(ə)l/ adverb first
originally
isations, especially of organisations as |
units or structures, rather than of the be- or at the beginning

O’s 쏡 four O’s
O’s
haviour of people within organisations

283 outperform
OS abbr outsize ty on a piece of land, but not final because
OS
O/S abbr out of stock

O/S
there are no details 쐽 verb to make a gen-
other people’s money (OPM) /ðə
other people’s money
eral description 쑗 The chairman outlined
pip(ə)lz mni/ money which a busi- the company’s plans for the coming year.
outlook /aυtlυk/ noun a view of what
outlook
ness ‘borrows’ from its creditors (such as

by not paying invoices on schedule) and is going to happen in the future 쑗 The
so avoids using its own funds economic outlook is not good. 쑗 The
ounce /aυns/ noun a measure of weight
ounce
stock market outlook is worrying.
(= 28 grams) (NOTE: Usually written oz ‘American demand has transformed the
after figures: 25oz. Note also that the profit outlook for many European manu-
ounce is now no longer officially used in facturers’ [Duns Business Month]
out of court /aυt əv kɔt/ adverb, ad-
out of court
the UK)
out /aυt/ adverb 1. on strike 쑗 The work-
out
jective 왍 a settlement was reached out

ers have been out on strike for four weeks. of court a dispute was settled between
쑗 As soon as the management made the two parties privately without continuing a
offer, the staff came out. 쑗 The shop stew- court case
ards called the workforce out. 2. 왍 to be out-of-date /aυt əv det/ adjective,
out-of-date
out to be wrong in calculating something, adverb old-fashioned or no longer mod-

or to be wrongly calculated 쑗 the balance ern 쑗 Their computer system is years out
is £10 out 왍 we are £20,000 out in our of date. 쑗 They’re still using out-of-date
calculations we have £20,000 too much equipment.
or too little 3. US away from work be- out-of-house /aυt əv haυs/ adjec-
out-of-house
cause of illness (NOTE: The UK term for tive, adverb working outside a company’s
this sense is off.)
buildings 쑗 the out-of-house staff 쑗 We do
outbid /aυtbd/ verb to offer a better
outbid
|
all our data processing out-of-house.
price than someone else 쑗 We offered
out of pocket /aυt əv pɒkt/ adjec-
out of pocket
£100,000 for the warehouse, but another

company outbid us. (NOTE: outbidding – tive, adverb having paid out money per-
outbid) sonally 쑗 The deal has left me out of
pocket.
outfit /aυtft/ noun a small, sometimes
outfit
out-of-pocket expenses /aυt əv

out-of-pocket expenses
badly run company 쑗 They called in a

public relations outfit. 쑗 He works for pɒkt kspensz/ plural noun an
|
some finance outfit. amount of money paid back to an employ-

outflow /aυtfləυ/ noun 왍 outflow of
outflow
ee who has spent his or her personal mon-
capital from a country capital which is ey on company business
out of stock /aυt əv stɒk/ adjective,
out of stock
sent out of a country for investment

abroad adverb with no stock left 쑗 Those books
outgoing /aυt!əυŋ/ adjective 1. 왍 are temporarily out of stock. 쑗 Several
outgoing
outgoing mail mail which is being sent out-of-stock items have been on order for
out 2. 왍 the outgoing chairman, the out- weeks. Abbreviation O/S
out of the loop /aυt əv ðə lup/ ad-
out of the loop
going president chairman or president

who is about to retire verb deliberately or accidentally exclud-
outgoings /aυt!əυŋz/ plural noun ed from decision-making processes and
outgoings
money which is paid out the flow of information around an organi-

outlay /aυtle/ noun money spent, ex-
outlay
sation (informal ) (NOTE: A person who is
penditure 왍 for a modest outlay for a out of the loop is likely to feel isolated
small sum 쑗 For a modest outlay he was and will be unable to contribute fully to
able to take control of the business. the organisation.)
outlet /aυtlet/ noun a place where out of work /aυt əv w&k/ adjective,
out of work
outlet
something can be sold adverb with no job 쑗 The recession has

outline /aυtlan/ noun a general de-
outline
put millions out of work. 쑗 The company
scription, without giving many details 쑗 was set up by three out-of-work engi-
They drew up the outline of a plan or an neers.
outline plan. 왍 outline planning permis- outperform /aυtpəfɔm/ verb to do
outperform
sion general permission to build a proper- better than other companies

output 284
‘…on the fairly safe assumption that there outside shareholder /aυtsad
outside shareholder
is little to be gained in attempting to find ʃeəhəυldə/ same as minority share-

the share or trust that outperforms every- holder
thing else, there is every reason to buy an outside worker /aυtsad w&kə/
outside worker
index-tracking fund’ [Money Observer]

noun an employee who does not work in
output /aυtpυt/ noun 1. the amount
output
a company’s offices
which a company, person or machine pro-
outsize /aυtsaz/ noun a size which is
outsize
duces 쑗 Output has increased by 10%. 쑗

25% of our output is exported. 2. infor- larger than usual. Abbreviation OS 왍 out-
mation which is produced by a computer. size order a very large order
outsource /aυtsɔs/ verb to use a
outsource
Opposite input 쐽 verb to produce (by |
computer) 쑗 The printer will output col- source outside a company or business to
our graphics. 쑗 That is the information do the work that is needed
outsourcing /aυtsɔsŋ/ noun the
outsourcing
outputted from the computer. 쑗 The print-

er will output colour graphs. (NOTE: out- practice of obtaining services from spe-
putting – outputted) cialist bureaux or other companies, rather
‘…crude oil output plunged during the last than employing full-time members of
month and is likely to remain near its staff to provide them
present level for the near future’ ‘…organizations in the public and private
[Wall Street Journal] sectors are increasingly buying in special-
output bonus /aυtpυt bəυnəs/, out- ist services – or outsourcing – allowing
output bonus
put-based bonus /aυtpυt best them to cut costs and concentrate on their
bəυnəs/ noun an extra payment for in- core business activities’ [Financial Times]
outstanding /aυtstndŋ/ adjective
outstanding
creased production |
output per hour / aυtpυt pər aυə/

output per hour
not yet paid or completed 왍 outstanding
noun the amount of something produced debts debts which are waiting to be paid
in one hour 왍 outstanding orders orders received but
output tax /aυtpυt tks/ noun VAT
output tax
not yet supplied 왍 what is the amount
charged by a company on goods or serv- outstanding? how much money is still
ices sold, and which the company pays to owed? 왍 matters outstanding from the
the government previous meeting questions which were
outright /aυtrat/ adverb, adjective
outright not settled at the previous meeting
COMMENT: Note the difference between
|
completely 왍 to purchase something ‘outstanding’ and ‘overdue’. If a debtor

outright, to make an outright purchase has 30 days credit, then his debts are
to buy something completely, including outstanding until the end of the 30 days,
all rights in it and they only become overdue on the
outsell /aυtsel/ verb to sell more than
outsell
31st day.
out tray / aυt tre/ noun a basket on a
|
out tray
someone 쑗 The company is easily outsell-

ing its competitors. (NOTE: outselling – desk for letters or memos which have
outsold) been dealt with and are ready to be dis-
outside /aυtsad/ adjective, adverb 1.
outside
patched
not in a company’s office or building 왍 to outturn /aυtt&n/ noun an amount pro-
outturn
send work to be done outside to send duced by a country or company

work to be done in other offices 2. 왍 out- outvote /aυtvəυt/ verb to defeat some-
outvote
side office hours not during office hours, one in a vote 왍 the chairman was out-
when the office is not open voted the majority voted against the
outside dealer /aυtsad dilə/ noun chairman
outside dealer
outward /aυtwəd/ adjective going

outward
a person who is not a member of the Stock

Exchange but is allowed to trade away from the home country 쑗 the ship is
outside director /aυtsad darektə /
outside director
|
outward bound 쑗 On the outward voyage
noun a director who is not employed by the ship will call in at the West Indies.
outward cargo /aυtwəd kɑ!əυ/
outward cargo
the company, a non-executive director

outside line /aυtsad lan/ noun a noun goods which are being exported
outside line
outward mission /aυtwəd mʃ(ə)n/

outward mission
line from an internal office telephone sys-

tem to the main telephone exchange 쑗 noun a visit by a group of businesspeople
You dial 9 to get an outside line. to a foreign country
285 overheads
outwork / aυtw&k/ noun work which a overcharge noun /əυvətʃɑd$/ a
outwork overcharge
company pays someone to do at home charge which is higher than it should be 쑗

outworker /aυtw&kə/ noun a person
outworker
to pay back an overcharge 쐽 verb /əυvə |
who works at home for a company tʃɑd$/ to ask someone for too much
money 쑗 They overcharged us for our
over /əυvə/ preposition 1. more than 쑗
over
meals. 쑗 We asked for a refund because

the carpet costs over £1000 쑗 Packages we’d been overcharged.
not over 200 grams can be sent first class.
overdraft /əυvədrɑft/ noun 1. an
overdraft
쑗 The increase in turnover was over 25%.

2. compared with 쑗 Increase in output amount of money which a company or
over last year. 쑗 Increase in debtors over person can withdraw from a bank ac-
the last quarter’s figure. 3. during 쑗 Over count, with the bank’s permission, despite
the last half of the year profits doubled. 쐽 the fact that the account is empty 쑗 The
adverb 왍 held over to the next meeting bank has allowed me an overdraft of
postponed, put back to the next meeting £5,000. Abbreviation O/D (NOTE: The US
term is overdraft protection.) 왍 we
over- /əυvə/ prefix more than 왍 shop
over-
have exceeded our overdraft facilities

which caters to the over-60s a shop we have taken out more than the overdraft
which has goods which appeal to people allowed by the bank 2. a negative amount
who are more than sixty years old of money in an account, i.e. a situation
overall /əυvərɔl/ adjective covering
overall
| where a cheque is more than the money in

or including everything 왍 the company the account on which it is drawn
reported an overall fall in profits the overdraft facilities /əυvədrɑft fə
overdraft facilities
company reported a general fall in profits sltiz/ plural noun an arrangement with
왍 overall plan a plan which covers every- a bank to have an overdraft
thing overdraw /əυvədrɔ/ verb to take out
overdraw
overbook /əυvə bυk/ verb to book

overbook
|
more money from a bank account than
more people than there are seats or rooms there is in it 왍 your account is over-
available 쑗 The hotel or The flight was drawn, you are overdrawn you have
overbooked. paid out more money from your account
overbooking /əυvə bυkŋ/ noun the than you have in it
overbooking
act of taking more bookings than there are overdue /əυvə dju/ adjective having
overdue
seats or rooms available not been paid on time 왍 interest pay-

overborrowed /əυvəbɒrəυd/ adjec- ments are three weeks overdue interest
overborrowed
tive referring to a company which has payments which should have been made
very high borrowings compared to its as- three weeks ago
overestimate /əυvərestmet/ verb
overestimate
sets, and has difficulty in meeting its in- |
terest payments to think something is larger or worse than

overbought /əυvəbɔt/ adjective
overbought
|
it really is 쑗 She overestimated the
having bought too much 왍 the market is amount of time needed to fit out the facto-
overbought prices on the stock market ry. 쑗 They overestimated the costs of mov-
are too high, because there have been too ing the offices to central London.
overextend /əυvərkstend/ verb 왍
overextend
many people wanting to buy |
‘…they said the market was overbought the company overextended itself the
when the index was between 860 and 870 company borrowed more money than its
points’ [Australian Financial Review] assets would allow
overcapacity / əυvəkəpsti/ noun overhead budget /əυvəhed bd$t/
overcapacity overhead budget
an unused capacity for producing some- noun a plan of probable overhead costs
thing overhead costs /əυvəhed kɒsts/,
overhead costs
‘…with the present overcapacity situation overhead expenses /əυvəhed k |
in the airline industry the discounting of spensz/ plural noun same as over-
tickets is widespread’ [Business Traveller] heads
/əυvə overheads /əυvəhedz/ plural noun
overcapitalised
overcapitalised
overheads
kptəlazd/, overcapitalized adjec- the indirect costs of the day-to-day run-

tive referring to a company with more ning of a business, i.e. not money spent of
capital than it needs producing goods, but money spent on
overlook 286
such things as renting or maintaining tries 쑗 The profits from overseas are far
buildings and machinery 쑗 The sales rev- higher than those of the home division.
enue covers the manufacturing costs but overseas call /əυvəsiz kɔl/ noun a
overseas call
not the overheads. (NOTE: The usual US call to another country

term is overhead.) overseas division /əυvəsiz d
overseas division
overlook /əυvəlυk/ verb not to pay at- v$(ə)n/ noun the section of a company
overlook
tention to 쑗 In this instance we will over- dealing with trade with other countries
look the delay. overseas
overseas markets
markets / əυvəsiz
overmanning /əυvəmnŋ/ noun mɑkts/ plural noun markets in foreign
overmanning
the state of having more employees than countries

are needed to do a company’s work 쑗 The overseas trade /əυvəsiz tred/
overseas trade
MD’s plan is to reduce overmanning. 쑗 noun same as foreign trade

The answer to our overmanning problem overseer / əυvəsə/ noun a person who
overseer
must be redundancies. supervises other workers

overpaid /əυvəped/ adjective paid
overpaid
oversell /əυvəsel/ verb to sell more

oversell
|
|
too much 쑗 Our staff are overpaid and than you can produce 왍 he is oversold he
underworked. has agreed to sell more product than he
overpay /əυvəpe/ verb 1. to pay too can produce 왍 the market is oversold
overpay
much to someone or for something 쑗 We stock-market prices are too low, because
overpaid the invoice by $245. 2. to pay an there have been too many sellers
extra amount to reduce the total capital overspend /əυvəspend/ verb to
overspend
borrowed on a mortgage spend too much 왍 to overspend your

overpayment /əυvə pemənt/ noun
overpayment
|
budget to spend more money than is al-
an act of paying too much lowed in your budget
overproduce /əυvəprədjus/ verb to overspending /əυvə spendŋ/ noun
overproduce
overspending
|
|
produce too much of a product the act of spending more than is allowed
overproduction /əυvəprədkʃən/ 쑗 The board decided to limit the over-
overproduction
noun the manufacturing of too much of a spending by the production departments.

product overstaffed /əυvəstɑft/ adjective
overstaffed
overrated /əυvəretd / adjective val-

overrated
| with more employees than are needed to

ued more highly than it should be 쑗 The do the work of the company
effect of the dollar on European business overstock /əυvə stɒk/ verb to have a
overstock
cannot be overrated. 쑗 Their ‘first-class bigger stock of something than is needed

service’ is very overrated. 왍 to be overstocked with spare parts to
overrider /əυvəradə/, overriding have too many spare parts in stock
overrider
commission /əυvəradŋ kəmʃ(ə)n/ | ‘Cash paid for your stock: any quantity,
noun a special extra commission which is any products, overstocked lines, factory
above all other commissions seconds’ [Australian Financial Review]
overrun / əυvərn/ verb to go beyond overstocks /əυvəstɒks/ plural noun
overstocks
overrun
a limit 쑗 The construction company over- US more stock than is needed to supply
ran the time limit set to complete the fac- orders 쑗 We will have to sell off the over-
tory. 쑗 The workers overran the time limit stocks to make room in the warehouse.
set by the production manager. (NOTE: oversubscribe /əυvəsəbskrab/
oversubscribe
overrunning – overran – overrun) verb 왍 the share offer was oversub-

overs /əυvəz/ plural noun extra items scribed six times people applied for six
overs
above the agreed total 쑗 The price in- times as many new shares as were availa-
cludes 10% overs to compensate for dam- ble
age. over-the-counter /əυvə ðə kaυntə/
over-the-counter
overseas adjective /əυvəsiz/, adverb adjective involving shares which are not
overseas
/əυvəsiz/ across the sea, or to or in for-

|
listed on the main Stock Exchange. Ab-
eign countries 쑗 Management trainees breviation OTC
over-the-counter market /əυvə ðə
over-the-counter market
knew that they would be sent overseas to

learn about the export markets. 쑗 Some kaυntə mɑkt/ noun a secondary mar-
workers are going overseas to find new ket in shares which are not listed on the
jobs. 쐽 noun /əυvəsiz/ foreign coun- | main Stock Exchange
287 oz
over-the-counter sales /əυvə ðə owe /əυ/ verb to have to pay money 쑗 He
over-the-counter sales owe
kaυntə selz/ plural noun the legal sell- owes the bank £250,000. 왍 they still owe
ing of shares which are not listed in the the company for the stock they pur-
official Stock Exchange list, usually car- chased last year they have still not paid
ried out by telephone for the stock
overtime /əυvətam/ noun hours owing /əυŋ/ adjective 1. owed 쑗 mon-
overtime owing
worked in addition to your usual working ey owing to the directors 쑗 How much is
hours 쑗 to work six hours’ overtime 쑗 The still owing to the company by its debtors?
overtime rate is one and a half times nor- 2. 왍 owing to because of 쑗 The plane was
mal pay. 쐽 adverb 왍 to work overtime to late owing to fog. 쑗 I am sorry that owing
work longer hours than stated in the con- to pressure of work, we cannot supply
tract of employment your order on time.
overtime ban /əυvətam bn/ noun own /əυn/ verb to have or to possess 쑗
overtime ban own
an order by a trade union which forbids She owns 50% of the shares. 왍 a wholly-
overtime work by its members owned subsidiary a subsidiary which be-
overtime pay /əυvətam pe/ noun longs completely to the parent company
overtime pay
pay for extra time worked own brand /əυn brnd/ noun the
own brand
overtrading /əυvətredŋ/ noun a name of a store which is used on products

overtrading
situation where a company increases sales which are specially packed for that store
and production too much and too quickly, own-brand goods /əυn brnd
own-brand goods
so that it runs short of cash !υdz/ plural noun products specially

overvalue /əυvəvlju/ verb to give
overvalue
| packed for a store with the store’s name

a higher value to something or someone on them
than is right 왍 these shares are overval- owner /əυnə/ noun the person who
owner
ued at £1.25 the shares are worth less controls a private company
than the £1.25 for which they are selling owner-occupier /əυnər ɒkjυpaə/
owner-occupier
왍 the pound is overvalued against the noun a person who owns the property in
dollar the exchange rate gives too many which he or she lives
dollars to the pound, considering the
ownership /əυnəʃp/ noun the fact of
ownership
strength of the two countries’ economies

owning something 왍 the ownership of
‘…the fact that sterling has been overval- the company has passed to the banks
ued for the past three years shows that cur-
rencies can remain above their fair value the banks have become owners of the
for very long periods’ [Investors Chroni- company
own label /əυn leb(ə)l/ noun goods
own label
cle]
overweight /əυvəwet/ adjective 왍 specially produced for a store with the
overweight
the package is sixty grams overweight store’s name on them

own-label goods /əυn leb(ə)l
own-label goods
the package weighs sixty grams too much

overworked /əυvəw&kt/ adjective
overworked
|
!υdz/ plural noun goods specially pro-
having too much work to do 쑗 Our staff duced for a store with the store’s name on
complain of being underpaid and over- them
oz abbr ounce(s)
oz
worked.
P
‘…airlines will book not only tickets but
PA
PA abbr personal assistant

p.a. also hotels and car hire to provide a com-
p.a. abbr per annum plete package’ [Business Traveller]
Pacific Rim /pəsfk rm/ noun the
Pacific Rim
package deal /pkd$ dil/ noun an

package deal
|
countries on the edge of the Pacific agreement which deals with several dif-
Ocean: especially Hong Kong, Japan, Ko- ferent items at the same time 쑗 They
rea, Malaysia, Singapore, Thailand and agreed a package deal which involves the
Taiwan construction of the factory, training of
pack /pk/ noun 1. items put together in
pack
staff and purchase of the product.
package holiday /pkd$ hɒlde/,
package holiday
a container or shrink-wrapped for selling

왍 items sold in packs of 200 items sold packaged holiday noun a holiday
in boxes containing 200 items 2. a folder whose price includes transport and ac-
containing documents about something 쐽 commodation, and sometimes also meals
verb to put things into a container for sell- 쑗 The travel company is arranging a
ing or sending 쑗 to pack goods into car- package trip to the international trade
tons 쑗 Your order has been packed and is fair.
ready for shipping. 쑗 The biscuits are packaging /pkd$ŋ/ noun 1. the act
packaging
packed in plastic wrappers. of putting things into packages 2. material

package /pkd$/ noun 1. goods
package
used to protect goods which are being
packed and wrapped for sending by mail packed 쑗 bubble wrap and other packag-
쑗 The Post Office does not accept bulky
ing material 쑗 The fruit is sold in airtight
packages. 쑗 The goods are to be sent in packaging. 3. material used to wrap
goods for display
airtight packages. 2. a box or bag in
packer /pkə/ noun a person who
packer
which goods are sold 쑗 Instructions for

use are printed on the package. 3. a group packs goods
packet /pkt/ noun a small box of
packet
of different items joined together in one

deal 4. a different items of software sold goods for selling 쑗 Can you get me a
together 쑗 a payroll package 쑗 The com- packet of cigarettes? 쑗 She bought a
puter is sold with accounting and word- packet of biscuits. 쑗 We need two packets
processing packages. 쑗 The company’s of filing cards. 왍 item sold in packets of
area of specialisation is accounts packag- 20 items are sold in boxes containing 20
es for small businesses. 쐽 verb 1. 왍 to items each
packing /pkŋ/ noun 1. the act of
packing
package goods to wrap and pack goods in

an attractive way 2. 왍 to package holi- putting goods into boxes and wrapping
days to sell a holiday package including them for shipping 쑗 What is the cost of
travel, hotels and food the packing? 쑗 Packing is included in the
‘…airlines offer special stopover rates and price. 2. material used to protect goods 쑗
hotel packages to attract customers to cer- packed in airtight packing 쑗 The fruit is
tain routes’ [Business Traveller] packed in airtight packing.
packing charges /pkŋ tʃɑd$z/
packing charges
‘…the remuneration package will include

an attractive salary, profit sharing and a plural noun money charged for putting
company car’ [Times] goods into boxes
289 paragraph
packing list /pkŋ lst/ noun a list of paper /pepə/ noun 1. 왍 on paper in
packing list paper
goods which have been packed, sent with theory 쑗 On paper the system is ideal, but
the goods to show they have been checked we have to see it working before we will
paid /ped/ adjective 1. for which mon- sign the contract. 2. a document which
paid
ey has been given 쑗 The invoice is marked can represent money, e.g. a bill of ex-
‘paid’. 2. 왍 paid holidays holidays where change or a promissory note 3. a newspa-
the worker’s wages are still paid even per 4. shares in the form of share certifi-
though he or she is not working 3. refer- cates
ring to an amount which has been settled paper feed /pepə fid/ noun a device
paper feed
쑗 The order was sent carriage paid. 왍 which puts paper into a printer or photo-
paid bills bills which have been settled copier
paid assistant /ped əsst(ə)nt/ paper gain /pepə !en/ noun same
paid assistant
paper gain
noun an assistant who receives a salary as paper profit

paid-up /ped p/ adjective paid in
paid-up
‘…the profits were tax-free and the inter-

full est on the loans they incurred qualified for
paid-up capital /ped p kpt(ə)l/, income tax relief; the paper gains were
paid-up capital
paid-up share capital /ped p ʃeə rarely changed into spending money’
kpt(ə)l/ noun an amount of money [Investors Chronicle]
paperless office /pepələs ɒfs/
paperless office
paid for the issued capital shares (it does

not include called-up capital which has noun an office where all work is done on
not yet been paid for) computers, which should mean that less
paid-up shares /ped p ʃeəz/ noun
paid-up shares
paper is used (in fact, such offices usually
shares which have been completely paid use far more paper than old-fashioned of-
for by the shareholders fices)
paper loss /pepə lɒs/ noun a loss
paper loss
pallet /plət/ noun a flat wooden base

pallet
on which goods can be stacked for easy made when an asset has fallen in value but
handling by a fork-lift truck, and on has not been sold
paper mill /pepə ml/ noun a factory
paper mill
which they remain for the whole of their

transportation (NOTE: The US term is where wood is made into paper
skid.) paper millionaire /pepə mljəneə/
paper millionaire
palletise /plətaz/, palletize verb to

palletise
noun a person who owns shares which, if

put goods on pallets 쑗 palletised cartons sold, would be worth one million pounds
palmtop /pɑmtɒp/ noun a very small or dollars
palmtop
computer which can be held in your hand paper money /pepə mni/ noun
paper money
and which usually has a character recog- payments in paper form, e.g., cheques
nition screen instead of a keyboard paper profit /pepə prɒft/ noun a
paper profit
pamphlet /pmflət/ noun a small

pamphlet
profit on an asset which has increased in

booklet of advertising material or of in- price but has not been sold 쑗 He is show-
formation ing a paper profit of £25,000 on his in-
P&L abbr profit and loss
P&L
vestment. Also called paper gain, unre-

P&L account /pi ənd el əkaυnt/ alised profit
P&L account
noun same as profit and loss account paperwork /pepəw&k/ noun an of-
paperwork
panel /pn(ə)l/ noun 1. a flat surface fice work, especially writing memos and
panel
standing upright 2. a group of people who filling in forms 쑗 Exporting to Russia in-
give advice on a problem 쑗 a panel of ex- volves a large amount of paperwork.
perts par /pɑ/ adjective equal, at the same
par
Panel on Takeovers and Mergers price 왍 shares at par shares whose mar-
Panel on Takeovers and Mergers
/pn(ə)l ɒn tekəυvəz ən m&d$əz/ ket price is the same as their face value
noun a non-statutory body which exam- paragraph /prə!rɑf/ noun a group
paragraph
ines takeovers and applies the Takeover of several lines of writing which makes a
Code separate section 쑗 the first paragraph of
panic buying /pnk baŋ/ noun a
panic buying
your letter or paragraph one of your letter

rush to buy something at any price be- 쑗 Please refer to the paragraph in the
cause stocks may run out contract on ‘shipping instructions’.
parallel economy 290

parallel economy / prəlel  States. It is called the ‘Paris Club’ be-
parallel economy
kɒnəmi/ noun same as black economy cause its first meeting was in Paris)
parameter /pərmtə/ noun a fixed parity /prti/ noun the state of being
parameter parity
limit 쑗 The budget parameters are fixed equal 왍 the female staff want parity
by the finance director. 쑗 Spending by with the men they want to have the same
each department has to fall within agreed rates of pay and conditions as the men 왍
parameters. the pound fell to parity with the dollar
parastatal /prəstet(ə)l/ noun in Af- the pound fell to a point where one pound
parastatal
rica, a large state-controlled organisation equalled one dollar

‘…the minister did reveal that the accumu- ‘…the draft report on changes in the inter-
lated losses of major parastatals totalled national monetary system casts doubt
$0.4 billion in mid-year’ [Business about any return to fixed exchange-rate
in Africa] parities’ [Wall Street Journal]
parcel delivery service /pɑs(ə)l d parity bit / prti bt/ noun an odd or
parcel delivery service parity bit
lv(ə)ri s&vs/ noun a private company even digit that is used to check computer
which delivers parcels within a specific data for errors
area Parkinson’s law /pɑknsənz lɔ/
Parkinson’s law
parcel of shares /pɑs(ə)l əv ʃeəz/

parcel of shares
noun a law, based on wide experience,

noun a fixed number of shares which are that in business the amount of work in-
sold as a group 쑗 The shares are on offer creases to fill the time available for it. The
in parcels of 50. principle is named after the book written
parcel post /pɑs(ə)l pəυst/ noun a
parcel post
in 1958 by C. Northcote Parkinson.

mail service for sending parcels 쑗 Send part /pɑt/ noun 1. a piece or section;
part
the order by parcel post. some 쑗 Part of the shipment was dam-
parcels office /pɑs(ə)lz ɒfs/ noun
parcels office
aged. 쑗 Part of the workforce is on over-

an office where parcels can be handed in time. 쑗 Part of the expenses will be re-
for sending by mail funded. 2. 왍 in part not completely 쑗 to
parent company / peərənt
parent company
contribute in part to the costs or to pay the

kmp(ə)ni/ noun a company which costs in part
owns more than 50% of the shares of an- part delivery /pɑt dlv(ə)ri/ noun a
part delivery
other company delivery that contains only some of the

Pareto’s Law /pəritəυz lɔ/, Pareto
Pareto’s Law
|
items in an order
Effect /pəritəυ fekt/ noun the theory
part exchange /pɑt kstʃend$/
part exchange
| |
that incomes are distributed in the same |
noun the act of giving an old product as

way in all countries, whatever tax regime
is in force, and that a small percentage of part of the payment for a new one 쑗 to
take a car in part exchange
a total is responsible for a large propor-
partial /pɑʃ(ə)l/ adjective not com-
partial
tion of value or resources. Also called

eighty/twenty law plete 왍 partial loss a situation where only
COMMENT: Also called the 80/20 law, be- part of the insured property has been dam-
cause 80/20 is the normal ratio between aged or lost 왍 he got partial compensa-
majority and minority figures: so 20% of tion for the damage to his house he was
accounts produce 80% of turnover; 80% compensated for part of the damage 왍
of GDP enriches 20% of the population,
etc. partial payment US payment of part of a
whole payment
pari passu /pri psu/ adverb a
pari passu
participation /pɑtspeʃ(ə)n/ noun

participation
Latin phrase meaning ‘equally’ 쑗 The | |
new shares will rank pari passu with the the act of taking part 쑗 The workers are
existing ones. demanding more participation in the
Paris Club /prs klb/ noun the
Paris Club
company’s affairs. 쑗 Participation helps
Group of Ten, the major world economic to make an employee feel part of the or-
powers working within the framework of ganisation.
participative /pɑtspətv/ adjective
participative
the IMF (there are in fact eleven: Bel- |
gium, Canada, France, Germany, Italy, where both sides take part 쑗 We do not
Japan, Netherlands, Sweden, Switzer- treat management-worker relations as a
land, United Kingdom and the United participative process.
291 pass
particular /pətkjυlə/ adjective spe- part-owner /pɑt əυnə/ noun a per-
particular part-owner
cial, different from others 쑗 The colour son who owns something jointly with one
printer only works with a particular type or more other people 쑗 I am part-owner
of paper. 쐽 noun 1. 왍 to give full partic- of the restaurant.
ulars of something to list all the known part-ownership /pɑt əυnəʃp/
part-ownership
details about something 2. 왍 in particu- noun a situation where two or more per-
lar specially, as a special point 쑗 Fragile sons own the same property
goods, in particular glasses, need special part payment /pɑt pemənt/ noun
part payment
packing. the paying of part of a whole payment 쑗 I

average /pətkjυlə
particular average
particular | gave him £250 as part payment for the

v(ə)rd$/ noun a situation where part car.
of a shipment is lost or damaged and the part shipment /pɑt ʃpmənt/ noun
part shipment
insurance costs are borne by the owner of same as part delivery

the lost goods and not shared among all part-time / pɑt tam/ adjective, ad-
part-time
the owners of the shipment verb not working for the whole working
particular lien /pətkjυlə liən/
particular lien
|
week 쑗 a part-time employee 쑗 It is a
noun a right of a person to keep posses- part-time job that 쑗 We are looking for
sion of another person’s property until part-time staff to work our computers. 쑗
debts relating to that property have been She only works part-time as she has small
paid children to look after.
particulars /pətkjυləz/ noun details part-timer / pɑt tamə/ noun a per-
particulars part-timer
쑗 sheet which gives particulars of the son who works part-time

items for sale 쑗 The inspector asked for part-time work /pɑt tam w&k/,
part-time work
particulars of the missing car. part-time employment /pɑt tam m |
partly /pɑtli/ adverb not completely 왍 plɔmənt/ noun work for part of a work-
partly
partly-secured creditors creditors ing week (officially, between 8 and 16

whose debts are not fully covered by the hours per week) 쑗 He is trying to find
value of the security part-time work when the children are in
partly-paid capital /pɑt(ə)li ped
partly-paid capital
school.
kpt(ə)l/ noun a capital which repre- party /pɑti/ noun a person or organisa-
party
sents partly-paid shares tion involved in a legal dispute or legal

agreement 쑗 How many parties are there
partly-paid up shares /pɑt(ə)li
partly-paid up shares
to the contract? 쑗 The company is not a

ped p ʃeəz/, partly-paid shares party to the agreement.
/pɑt(ə)li ped ʃeəz/ plural noun shares
par value /pɑ vlju/ noun same as
par value
where the shareholders have not paid the

full face value face value
pass /pɑs/ noun 1. a permit to allow
pass
partner /pɑtnə/ noun a person who

partner
works in a business and has an equal share someone to go into a building 쑗 You need
in it with other partners 쑗 I became a a pass to enter the ministry offices. 쑗 All
partner in a firm of solicitors. members of staff must show a pass. 2. a
permit to allow someone to travel 쐽 verb
partnership /pɑtnəʃp/ noun an un-
partnership
1. 왍 to pass a dividend to pay no divi-

registered business where two or more dend in a certain year 2. to approve some-
people (but not more than twenty) share thing 쑗 The finance director has to pass
the risks and profits according to a part- an invoice before it is sent out. 쑗 The loan
nership agreement 쑗 to go into partner- has been passed by the board. 왍 to pass a
ship with someone 쑗 to join with someone resolution to vote to agree to a resolution
to form a partnership 왍 to offer someone 쑗 The meeting passed a proposal that sal-
a partnership, to take someone into aries should be frozen. 3. to be successful
partnership with you to have a working in an examination or test 쑗 He passed his
business and bring someone in to share it typing test. 쑗 She has passed all her ex-
with you 왍 to dissolve a partnership to ams and now is a qualified accountant.
bring a partnership to an end pass off phrasal verb 왍 to pass some-
part order /pɑt ɔdə/ noun same as
part order
thing off as something else to pretend

part delivery that something is another thing in order
passbook 292
to cheat a customer 쑗 She tried to pass /petənt
patent medicine
patent medicine
off the wine as French, when in fact it med(ə)sn/ noun a medicine which is
came from outside the EU. registered as a patent
passbook /pɑsbυk/ noun same as patent office /petənt ɒfs / noun a
passbook patent office
bank book government office which grants patents

‘…instead of customers having transac- and supervises them
patent pending /petənt pendŋ/
patent pending
tions recorded in their passbooks, they will

present plastic cards and have the transac- noun a situation where an invention is put
tions printed out on a receipt’ [Australian on the market before a patent is granted
Financial Review]
patent rights /petənt rats/ plural
patent rights
passenger ferry /psnd$ə feri/

passenger ferry
noun the rights which an inventor holds

noun a ferry which only carries passen- because of a patent
gers paternity leave /pət&nti liv/ noun
paternity leave
/psnd$ə
passenger manifest
passenger manifest a short period of leave given to a father to

mnfest/ noun a list of passengers on a be away from work when his partner has
ship or plane a baby
passenger terminal /psnd$ə
passenger terminal pathfinder prospectus
pathfinder prospectus
t&mn(ə)l/ noun an air terminal for peo- /pɑθfandə prəspektəs/ noun a pre-
|
ple going on planes, not for cargo liminary prospectus about a company
passenger train /psnd$ə tren/
passenger train
which is going to be launched on the
noun a train which carries passengers but
Stock Exchange, sent to potential major
not freight investors before the issue date, giving de-
tails of the company’s background, but
passport /pɑspɔt/ noun an official
passport
not giving the price at which shares will

document proving that you are a citizen of be sold
a country, which you have to show when patron /petrən/ noun a regular cus-
patron
you travel from one country to another 쑗 tomer, e.g. of a hotel, restaurant, etc. 쑗
We had to show our passports at the cus- The car park is for the use of hotel patrons
toms post. 쑗 His passport is out of date. 쑗 only.
The passport officer stamped my pass-
patronise /ptrənaz/, patronize
patronise
port.
verb to be a regular customer 쑗 I stopped
password /pɑsw&d/ noun a word or
password
patronising that restaurant when their

character which identifies a user and al- prices went up.
lows them access to a computer system pattern /pt(ə)n/ noun the general
pattern
patent /petənt, ptənt/ noun an of-

patent
way in which something usually happens

ficial document showing that a person has 쑗 The pattern of sales or The sales pat-
the exclusive right to make and sell an in- tern is quite different this year.
vention 쑗 to take out a patent for a new pattern book /pt(ə)n bυk/ noun a
pattern book
type of light bulb 쑗 to apply for a patent book showing examples of design
for a new invention 왍 to forfeit a patent
pattern of trade /pt(ə)n əv tred/
pattern of trade
to lose a patent because payments have

not been made 왍 to infringe a patent to noun a general way in which trade is car-
make and sell a product which works in ried on 쑗 The company’s trading pattern
the same way as a patented product and shows high export sales in the first quar-
not pay a royalty for it 왍 to file a patent ter and high home sales in the third quar-
application to apply for a patent 쐽 verb 왍 ter.
pawn /pɔn/ noun 왍 to put something
pawn
to patent an invention to register an in-

vention with the patent office to prevent in pawn to leave a valuable object with
other people from copying it someone in exchange for a loan which has
to be repaid if you want to take back the
patent agent /petənt ed$ənt/ noun
patent agent
object 왍 to take something out of pawn

a person who advises on patents and ap- to repay the loan and so get back the ob-
plies for patents on behalf of clients ject which has been pawned 쐽 verb 왍 to
patented /petəntd, ptəntd/ ad-
patented
pawn a watch to leave a watch with a

jective which is protected by a patent pawnbroker who gives a loan against it
293 payable
pawnbroker / pɔnbrəυkə/ noun a ey in the form of a cheque (NOTE: paying
pawnbroker
person who lends money against the secu- – paid)

rity of valuable objects ‘…recession encourages communication
pawnshop /pɔnʃɒp/ noun a pawn-
pawnshop
not because it makes redundancies easier,
broker’s shop but because it makes low or zero pay in-
creases easier to accept’ [Economist]
pawn ticket /pɔn tkt/ noun a re-
pawn ticket
‘…the yield figure means that if you buy

ceipt given by the pawnbroker for an ob- the shares at their current price you will be
ject left in pawn getting 5% before tax on your money if the
pay /pe/ noun a salary or wages, money company pays the same dividend as in its
pay
given to someone for regular work 왍 hol- last financial year’ [Investors Chronicle]
iday with pay a holiday which an em- pay back phrasal verb to give money
ployee can take by contract and for which back to someone 쑗 Banks are warning
he or she is paid 쐽 verb 1. to give money students not to take out loans which they
to buy an item or a service 쑗 to pay cannot pay back. 쑗 I lent him £50 and
£1,000 for a car 쑗 How much did you pay he promised to pay me back in a month.
to have the office cleaned? (NOTE: paying 쑗 She has never paid me back the money
– paid) 왍 to pay in advance to pay be- she borrowed.
fore you receive the item bought or before pay down phrasal verb 왍 to pay mon-
the service has been completed 쑗 We had ey down to make a deposit 쑗 They paid
to pay in advance to have the new tele- £50 down and the rest in monthly instal-
phone system installed. 왍 to pay in in- ments.
stalments to pay for an item by giving pay off phrasal verb 1. to finish paying
small amounts regularly 쑗 We are buying money which is owed for something 쑗
the van by paying instalments of £500 a He won the lottery and paid off his
month. 왍 to pay cash to pay the complete mortgage. 쑗 She is trying to pay off the
sum in cash 왍 to pay by cheque to pay by loan by monthly instalments. 2. to ter-
giving a cheque, not by using cash or minate somebody’s employment and
credit card 왍 to pay by credit card to pay pay all wages that are due 쑗 When the
using a credit card, not a cheque or cash 2. company was taken over the factory was
to produce or distribute money (NOTE: closed and all the employees were paid
paying – paid) 왍 to pay a dividend to off.
give shareholders a part of the profits of a pay out phrasal verb to give money 쑗
company 쑗 These shares pay a dividend The company pays out thousands of
of 1.5p. 왍 to pay interest to give money pounds in legal fees. 쑗 We have paid out
as interest on money borrowed or invested half our profits in dividends.
쑗 Some building societies pay interest of pay up phrasal verb to give money
5%. 3. to give an employee money for which is owed 쑗 The company only paid
work done 쑗 The workforce has not been up when we sent them a letter from our
paid for three weeks. 쑗 We pay good wag- solicitor. 쑗 She finally paid up six
es for skilled workers. 쑗 How much do months late.
payable /peəb(ə)l/ adjective due to be
payable
they pay you per hour? (NOTE: paying –

paid) 왍 to be paid by the hour to get paid 왍 payable in advance which has to
money for each hour worked 왍 to be paid be paid before the goods are delivered 왍
at piecework rates to get money for each payable on delivery which has to be paid
piece of work finished 4. to give money when the goods are delivered 왍 payable
which is owed or which has to be paid 쑗 at sixty days which has to be paid by six-
He was late paying the bill. 쑗 We phoned ty days after the date on the invoice 왍
to ask when they were going to pay the in- cheque made payable to bearer a
voice. 쑗 You will have to pay duty on cheque which will be paid to the person
these imports. 쑗 She pays tax at the high- who has it, not to any particular name
est rate. (NOTE: paying – paid) 왍 to pay written on it 왍 shares payable on appli-
on demand to pay money when it is cation shares which must be paid for
asked for, not after a period of credit 왍 when you apply to buy them 왍 electricity
please pay the sum of £10 please give charges are payable by the tenant the
£10 in cash or by cheque 5. 왍 to pay a tenant (and not the landlord) must pay for
cheque into an account to deposit mon- the electricity
pay as you earn 294

pay as you earn /pe əz jυ &n/ noun paying-in slip /peŋ n slp/ noun a
pay as you earn paying-in slip
a tax system, where income tax is deduct- printed form which is filled in when mon-
ed from the salary before it is paid to the ey is being deposited in a bank
worker. Abbreviation PAYE (NOTE: The pay levels /pe lev(ə)lz/ plural noun
pay levels
US term is pay-as-you-go.) rates of pay for different types of work.

pay-as-you-go /pe əz ju !əυ/
pay-as-you-go
Also called wage levels

noun 1. US same as pay as you earn 2.
payload /peləυd/ noun the cargo or
payload
a payment system where the purchaser

pays in small instalments as he or she uses passengers carried by a ship, train or
the service plane for which payment is made
payment /pemənt/ noun 1. the act of
payment
payback / pebk/ noun the act of pay-

payback
ing back money which has been borrowed giving money in exchange for goods or a
payback clause /pebk klɔz/
payback clause
service 쑗 We always ask for payment in
noun a clause in a contract which states cash or cash payment and not payment by
the terms for repaying a loan cheque. 쑗 The payment of interest or the
interest payment should be made on the
payback period /pebk pəriəd/
payback period
22nd of each month. 왍 payment on ac-

noun a period of time over which a loan is count paying part of the money owed 왍
to be repaid or an investment is to pay for payment on invoice paying money as
itself soon as an invoice is received 왍 payment
pay comparability /pe kɒmp(ə)rə
pay comparability
|
in kind paying by giving goods or food,
blti/ noun a similar pay system in two but not money 왍 payment by results
different companies money given which increases with the
pay day /pe de/ noun a day on which
pay day
amount of work done or goods produced

wages are paid to employees, usually Fri- 2. money paid 왍 repayable in easy pay-
day for employees paid once a week and ments repayable with small sums regular-
during the last week of the month for em- ly
ployees who are paid once a month payment gateway
payment gateway /pemənt

pay desk /pe desk/ noun a place in a !etwe/ noun software that processes
pay desk
store where you pay for goods bought online credit-card payments. It gets au-
pay differentials /pe dfərenʃəlz/ thorisation for the payment from the cred-
pay differentials
plural noun the difference in salary be- it-card company and transfers money into
tween employees in similar types of jobs. the retailer’s bank account.
Also called salary differentials, wage payment in full /pemənt n fυl/
payment in full
differentials noun payment of all the money owed

paydown /pedaυn/ noun a repayment
paydown
pay negotiations /pe n!əυʃi

pay negotiations
of part of a sum which has been borrowed

|
eʃ(ə)nz/, pay talks /pe tɔks/ plural

PAYE abbr pay as you earn
PAYE
noun discussions between management

payee /pei/ noun a person who re-
payee
| and employees about pay increases

ceives money from someone, or the per- payoff /peɒf/ noun 1. money paid to
payoff
son whose name is on a cheque finish paying something which is owed,

payer / peə/ noun a person who gives
payer
such as money paid to an employee when

money to someone his or her employment is terminated 2. a
pay hike /pe hak/ noun an increase in
pay hike
profit or reward 쑗 One of the payoffs of a

salary university degree is increased earning
paying /peŋ/ adjective 1. making a power.
paying
profit 쑗 It is a paying business. 왍 it is not ‘…the finance director of the group is to

a paying proposition it is not a business receive a payoff of about £300,000 after
which is going to make a profit 2. produc- deciding to leave the company and pursue
ing money, source of money 쐽 noun the other business opportunities’ [Times]
act of giving money payout /peaυt/ noun 1. money paid to
payout
paying-in book /peŋ n bυk/ noun

paying-in book
help a company or person in difficulties, a

a book of forms for paying money into a subsidy 쑗 The company only exists on
bank account or a building society ac- payouts from the government. 2. money
count paid to help someone in difficulties
295 pedestrian precinct

‘…after a period of recession followed by pay scale /pe skel/ noun a hierarchy
pay scale
a rapid boost in incomes, many tax payers of wage levels, typically varying accord-
embarked upon some tax planning to mining to job title, salary or length of service.
imize their payouts’ [Australian Financial Also called salary scale, wage scale
Review]
pay slip /pe slp/, pay statement
pay slip
pay package /pe pkd$/ noun the

pay package
/pe stetmənt/ noun a piece of paper

salary and other benefits offered with a showing the full amount of an employee’s
job 쑗 The job carries an attractive pay pay, and the money deducted as tax, pen-
package. sion and National Insurance contributions
pay packet /pe pkt/ noun an en-
pay packet
pay threshold /pe θreʃhəυld/ noun

pay threshold
velope containing the pay slip and the a point at which pay increases because of
cash pay a threshold agreement
pay parity /pe prti/ noun earning
pay parity
pc abbr per cent

pc
the same pay for the same job (NOTE: also

PC abbr personal computer
PC
called wage parity)

PCB abbr petty cash book
PCB
pay-per-click /pe pe klk/ noun

pay-per-click
PDF /pi di ef/ noun a format for elec-

PDF
same as pay-per-view
pay-per-view /pe pə vju/ noun a
pay-per-view
tronic documents that enables all their
website where the user has to pay to see original features, including page layout,
digital information, e.g., an e-book or e- text, photographs and colours, to be
magazine. Also called pay-per-click viewed on different computers or sys-
tems. Full form portable document for-
pay phone /pe fəυn/ noun a public
pay phone
mat
telephone which works if you put coins
P/E abbr price/earnings
P/E
into it
peak /pik/ noun the highest point 쑗 The
peak
pay restraint /pe rstrent/ noun the

pay restraint
shares reached their peak in January. 쑗

|
process of keeping increases in wages un-

der control The share index has fallen 10% since the
peak in January. 쑗 Withdrawals from
pay review /pe rvju/ noun an occa-
pay review
|
bank accounts reached a peak in the week
sion when an employee’s salary is consid- before Christmas. 쑗 He has reached the
ered and usually increased 쑗 I’m soon due peak of his career. 쐽 verb to reach the
for a pay review and hope to get a rise. highest point 쑗 Productivity peaked in
pay rise / pe raz/ noun an increase in
pay rise
January. 쑗 Shares have peaked and are

pay beginning to slip back. 쑗 He peaked early
payroll /perəυl/ noun 1. the list of and never achieved his ambition of be-
payroll
people employed and paid by a company coming managing director. 쑗 Demand

쑗 The company has 250 on the payroll. 2. peaks in August, after which sales usually
the money paid by a company in salaries decline.
쑗 The office has a weekly payroll of peak output /pik aυtpυt/ noun the
peak output
£10,000. highest output

payroll clerk /perəυl klɑk/ noun a peak period /pik pəriəd/ noun the
payroll clerk peak period
person employed to administer the pay- time of the day when something is at its
ment of employees. Also called wages highest point, e.g. when most commuters
clerk are travelling or when most electricity is
payroll deduction /perəυl d being used
payroll deduction
dkʃ(ə)n/ noun US money taken from peak year /pik jə/ noun the year
peak year
an employee’s gross pay for taxes, social when the largest quantity of products was
security and pension contributions produced or when sales were highest
payroll ledger /perəυl led$ə/ noun pecuniary /pkjuniəri/ adjective re-
payroll ledger pecuniary
a list of staff and their salaries ferring to money 왍 he gained no pecuni-

payroll tax /perəυl tks/ noun a tax ary advantage he made no profit
payroll tax
peddle /ped(ə)l/ verb to sell goods

peddle
on the people employed by a company

pay round /pe raυnd/ noun an annual from door to door or in the street
pay round
pedestrian precinct /pədestriən

pedestrian precinct
series of wage bargaining negotiations in |
various industries prisŋkt/ noun the part of a town which

peg 296
is closed to traffic so that people can walk even large numbers of them does not in-
about and shop volve a large amount of money, and the
share price of some companies can rise
peg /pe!/ verb to maintain or fix some-
peg
dramatically; the price can of course fall,

thing at a specific level 왍 to peg prices to but in the case of penny shares, the loss
fix prices to stop them rising 왍 to peg is not likely to be as much as with shares
wage increases to the cost-of-living in- with a higher market value.
pension /penʃən/ noun money paid
pension
dex to limit increases in wages to the in-

creases in the cost-of-living index regularly to someone who no longer
penalise /pinəlaz/, penalize verb to
penalise
works 쐽 verb 왍 to pension someone off
punish or fine someone 쑗 to penalise a to ask someone to retire and take a pen-
supplier for late deliveries 쑗 They were sion
pensionable /penʃənəb(ə)l/ adjec-
pensionable
penalised for bad time-keeping.

penalty /pen(ə)lti/ noun a punishment, tive able to receive a pension
penalty
pensionable age /penʃənəb(ə)l

pensionable age
often a fine, which is imposed if some-

thing is not done or is done incorrectly or ed$/ noun an age after which someone
illegally can stop working and take a pension
penalty clause /pen(ə)lti klɔz/ pension contributions /penʃən
penalty clause pension contributions
noun a clause which lists the penalties kɒntrbjuʃ(ə)nz/ plural noun money
|
which will be imposed if the terms of the paid by a company or employee into a
contract are not fulfilled 쑗 The contract pension fund
contains a penalty clause which fines the pension entitlement /penʃən n
pension entitlement
company 1% for every week the comple- tat(ə)lmənt/ noun the amount of pen-
tion date is late. sion which someone has the right to re-
pence /pens/ plural noun 쏡 penny ceive when he or she retires
pence
pending /pendŋ/ adjective waiting 쐽 pensioner /penʃənə/ noun a person

pensioner
pending
preposition 왍 pending advice from our who receives a pension

lawyers while waiting for advice from pension fund /penʃən fnd/ noun a
pension fund
our lawyers large sum of money made up of contribu-

pending tray /pendŋ tre/ noun a tions from employees and their employer
pending tray
basket on a desk for papers which cannot which provides pensions for retired em-
be dealt with immediately ployees
penetrate /pentret/ verb 왍 to pene- pension plan /penʃən pln/, pen-
pension plan
penetrate
trate a market to get into a market and sion scheme /penʃən skim/ noun a
capture a share of it plan worked out by an insurance company
penetration /pentreʃ(ə)n/ noun 1.
penetration
|
which arranges for employees to pay part
the percentage of a target market that ac- of their salary over many years and re-
cepts a product 2. the percentage of a tar- ceive a regular payment when they retire
people skills /pip(ə)l sklz/ plural
people skills
get audience reached by an advertisement

penny /peni/ noun 1. a small coin, of
penny
noun the techniques used in forming rela-
which one hundred make a pound (NOTE: tionships and dealing with other people 쑗
Written p after a figure: 26p. The plural Good people skills are essential for any-
is pence.) 2. US a small coin, one cent one working in customer service.
peppercorn rent /pepəkɔn rent/
peppercorn rent
(informal) (NOTE: The plural in US Eng-

lish is pennies. In UK English, say ‘pee’ noun a very small or nominal rent 쑗 to
for the coin, and ‘pee’ or ‘pence’ for the lease a property for or at a peppercorn
amount: a five ‘pee’ coin; it costs ten rent 쑗 The charity pays only a peppercorn
‘pee’ or ten ‘pence’. In US English, say rent.
per /p&, pə/ preposition 1. 왍 as per in-
per
‘pennies’ for coins and ‘cents’ for the

amount.) voice as stated in the invoice 왍 as per
penny share /peni ʃeə/ noun a very
penny share
sample as shown in the sample 왍 as per
cheap share, costing about 10p or less previous order according to the details
than $1 (NOTE: The US term is penny given in our previous order 2. for each 왍
stock.) we pay £10 per hour we pay £10 for each
COMMENT: These shares can be consid- hour worked 왍 the car was travelling at
ered as a good speculation, since buying twenty-five miles per hour at a speed
297 performance management

which covered 25 miles in one hour 왍 the percentage increase /pəsentd$
percentage increase
earnings per share the dividend received nkris/ noun an increase calculated on
for each share 왍 the average sales per the basis of a rate for one hundred
representative the average sales percentile /pəsental/ noun one of a
percentile
achieved by one representative 3. out of 쑗 series of ninety-nine figures below which

The rate of imperfect items is about twen- a percentage of the total falls
ty-five per thousand. 쑗 The birth rate has
per contra /p& kɒntrə/ noun words
per contra
fallen to twelve per hundred.

showing that a contra entry has been
‘…a 100,000 square-foot warehouse gen- made
erates $600 in sales per square foot of
perfect adjective /p&fkt/ completely
perfect
space’ [Duns Business Month]

PER abbr price/earnings ratio
PER
correct with no mistakes 쑗 We check each
per annum /pər nəm/ adverb in a
per annum batch to make sure it is perfect. 쑗 She did
a perfect keyboarding test. 쐽 verb /pə
year 쑗 What is their turnover per annum?
|
fekt/ to develop or improve something

쑗 What is his total income per annum? 쑗
She earns over £100,000 per annum. until it is as good as it can be 쑗 They per-
fected the process for making high-grade
P/E ratio /pi i reʃiəυ/ noun same as
P/E ratio
steel.
price/earnings ratio
/p&fkt
perfect competition
perfect competition
per capita /pə kptə/ adjective, ad-
per capita
kɒmpətʃ(ə)n/ noun (in economic the-

|
verb for each person ory) the ideal market, where all products
per-capita expenditure /pə kptə
per-capita expenditure
are equal in price and all customers are

kspendtʃə/ noun the total money
|
provided with all information about the
spent divided by the number of people in- products. Also called atomistic compe-
volved tition
per capita income /pə kptə
per capita income
perform /pəfɔm/ verb to do well or

perform
nkm/ noun the average income of one

|
badly 왍 how did the shares perform?

person. Also called income per capita, did the shares go up or down? 왍 the com-
income per head pany, the shares performed badly the
per cent /pə sent/ adjective, adverb
per cent
company’s share price fell

out of each hundred, or for each hundred performance /pəfɔməns/ noun 1.
performance
왍 10 per cent ten in every hundred 쑗

|
the way in which someone or something

What is the increase per cent? 쑗 Fifty per acts 쑗 Last year saw a dip in the compa-
cent of nothing is still nothing. ny’s performance. 왍 the poor perform-
‘…this would represent an 18 per cent ance of the shares on the stock market
growth rate – a slight slackening of the 25 the fall in the share price on the stock
per cent turnover rise in the first half’ market 왍 performance of staff against
[Financial Times] objectives how staff have worked, meas-
‘…buildings are depreciated at two per ured against the objectives set 2. the way
cent per annum on the estimated cost of in which a share increases in value
construction’ [Hongkong Standard]
‘…inflation-adjusted GNP edged up at a
percentage /pəsentd$/ noun an
percentage
|
1.3% annual rate, its worst performance
amount shown as part of one hundred since the economic expansion began’
‘…state-owned banks cut their prime rates [Fortune]
a percentage point to 11%’ [Wall Street performance
performance evaluation
evaluation /pə |
Journal]
fɔməns vljueʃ(ə)n/ noun an exam- |
‘…a good percentage of the excess stock ination of how well an employee is doing
was taken up during the last quarter’ his or her job
performance fund /pəfɔməns
performance fund
‘…the Federal Reserve Board, signalling |
its concern about the weakening American fnd/ noun an investment fund designed
economy, cut the discount rate by one-half to produce a high return, reflected in the
percentage point to 6.5%’ [Wall Street higher risk involved
Journal] performance management / pə
performance management
percentage discount /pəsentd$ fɔməns mnd$mənt/ noun manage-

percentage discount
dskaυnt/ noun a discount calculated at

| ment that specialises in finding ways to
an amount per hundred enable people to carry out their work to
performance measurement 298

the best of their ability, and to reach and if period of qualification /pəriəd əv
period of qualification
possible exceed performance targets and kwɒlfkeʃ(ə)n/ noun the time which
|
standards. Successful performance man- has to pass before someone qualifies for
agement usually relies on the establish- something
ment of a culture of collective and indi- period of validity /pəriəd əv və
period of validity
vidual responsibility for the continuing ldti/ noun the length of time for which
improvement of business processes, and a document is valid
on encouraging individuals to develop
peripherals /pərf(ə)rəlz/ plural noun
peripherals
their own skills.

|
items of hardware (such as terminals,

performance measurement / pə
performance measurement
|
printers, monitors, etc.) which are at-
fɔməns me$əmənt/ noun a way of tached to a main computer system
calculating how something or someone (a perishables /perʃəb(ə)lz/ plural
perishables
share or a person) has performed noun goods which can go bad easily
performance rating /pəfɔməns
performance rating
|
‘…the survey, which covered 7,376 super-
retŋ/ noun a judgement of how well a markets run by 119 companies, found that
share or a company has performed sales of food at the stores dropped by
pay /pə 2.9%. That decline, also the largest on
performance-related pay
performance-related |
fɔməns pe/, performance pay /pə |

record, was due to increasing price aware-
fɔməns rletd pe/ noun pay which
|
ness among customers and the lower price
is linked to the employee’s performance of perishables’ [Nikkei Weekly]
perjure /p&d$ə/ verb 왍 to perjure
perjure
of their duties. Abbreviation PRP

yourself to tell lies when you have made
performance review /pəfɔməns r
performance review
| |
an oath to say what is true

vju/ noun a yearly interview between a
perjury /p&d$əri/ noun an act of tell-
perjury
manager and each employee to discuss

how the employee has worked during the ing lies when you have made an oath in
year court to say what is true 쑗 He was sent to
prison for perjury. 쑗 She appeared in
per head /pə hed/ adverb for each per-
per head
court on a perjury charge.

son 쑗 Allow £15 per head for expenses. 쑗
perk /p&k/ noun an extra item given by
perk
Representatives cost on average £50,000

per head per annum. a company to employees in addition to
their salaries, e.g. company cars or private
per hour /pər aυə/ adverb for each
per hour
health insurance (informal) 쑗 She earns a

hour 쑗 The rate is £5 per hour. 쑗 He good salary and in addition has all sorts
makes about £250 per month. of perks.
period /pəriəd/ noun a length of time permanency /p&mənənsi/ noun the
period
permanency
쑗 for a period of time or for a period of fact of being permanent 쑗 There is a lack
months or for a six-year period 쑗 sales of permanency about the company.
over a period of three months 쑗 sales over permanent /p&mənənt/ adjective
permanent
the holiday period 쑗 to deposit money for which will last for a long time or for ever
a fixed period 쑗 the permanent staff and part-timers 쑗
periodic /pəriɒdk/, periodical
periodic
| She has found a permanent job. 쑗 She is

/pəriɒdk(ə)l/ adjective happening
| in permanent employment.
from time to time 쑗 a periodic review of permanently /p&mənəntli/ adverb
permanently
the company’s performance always or for ever 쑗 The company is per-

periodical /pəriɒdk(ə)l/ noun a manently in debt.
periodical
magazine which comes out regularly, permission /pəmʃ(ə)n/ noun the ac-
permission
usually once a month or once a week tivity of allowing something to happen 왍

period of notice /pəriəd əv nəυts/ to give someone permission to do some-
period of notice
noun a time stated in the contract of em- thing to allow someone to do something
permission marketing /pəmʃ(ə)n
permission marketing
ployment which the worker or company |
has to allow between resigning or being mɑktŋ/ noun any form of online di-
fired and the worker actually leaving his rect marketing that requires the seller to
job 쑗 we require three months’ notice 쑗 get permission from each recipient, usual-
he gave six months’ notice 쑗 We gave him ly through an opt-in, before sending him
three months’ wages in lieu of notice. or her any promotional material
299 personal property

permit noun /p&mt/ an official docu- personal computer /p&s(ə)n(ə)l
permit personal computer
ment which allows someone to do some- kəmpjutə/ noun a small computer

|
thing 쐽 verb /pəmt/ to allow someone

| which can be used by one person in the
to do something 쑗 This document permits home or office. Abbreviation PC
you to export twenty-five computer sys- personal effects /p&s(ə)n(ə)l 
personal effects
tems. 쑗 The ticket permits three people to fekts/ plural noun things which belong
go into the exhibition. 쑗 Will we be per- to someone
mitted to use her name in the advertising Personal Identification Number
copy? 쑗 Smoking is not permitted in the Personal Identification Number

design studio. (NOTE: permitting – per- /p&s(ə)n(ə)l adentfkeʃ(ə)n
| |
mitted) nmbə/ noun a unique number allocated

to the holder of a cash card or credit card,
perpetual inventory system /p&
perpetual inventory system
|
by which he or she can enter an automatic
petjυəl nventəri sstəm/ noun a banking system, as e.g., to withdraw cash
stock control system by which the stock is from a cash machine or to pay in a store.
continually counted as it moves into and Abbreviation PIN
out of the warehouse, so avoiding having
personal income /p&s(ə)n(ə)l
personal income
to close the warehouse for annual stock

checks. Abbreviation PIS nkm/ noun the income received by an
individual person before tax is paid
per pro abbr per procurationem 쑗 The
per pro
Personal Investment Authority
secretary signed per pro the manager. Personal Investment Authority

/p&s(ə)nəl nvestmənt ɔθɒrəti/
per procurationem /pə prɒkjυrs
per procurationem | |
noun a self-regulatory body which regu-

|
əυnəm/ preposition ‘a Latin phrase lates the activities of financial advisers,

meaning ‘on behalf of’ or ‘acting as the
representative of’’ insurance brokers and others who give fi-
nancial advice or arrange financial servic-
perquisite /p&kwzt/ noun same as
perquisite
es for small clients. Abbreviation PIA

perk
/p&s(ə)nəla
personalisation
personalisation
per se /p& se/ adverb by itself or in
per se |
zeʃ(ə)n/, personalization noun the

itself process by which a website presents cus-
personal / p&s(ə)n(ə)l/ adjective 1.
personal
tomers with information that is selected

referring to one person 왍 apart from the and adapted to meet their specific needs
family shares, she has a personal share- personalised /p&s(ə)nəlazd/, per-
personalised
holding in the company apart from sonalized adjective with the name or in-
shares belonging to her family as a group, itials of a person printed on it 쑗 She has a
she has shares which she owns herself 왍 personalised briefcase.
the car is for his personal use the car is
personal letter /p&s(ə)n(ə)l letə/
personal letter
for him to use himself 2. private 쑗 The en-

velope was marked ‘Personal’. 쑗 I want noun a letter which deals with personal
to see the director on a personal matter. matters (NOTE: also called private letter)
personally /p&s(ə)n(ə)li/ adverb in
personally
personal allowance /p&s(ə)n(ə)l ə

personal allowance
laυəns/ noun a part of a person’s income person 쑗 He personally opened the enve-
which is not taxed lope. 쑗 She wrote to me personally.
assets /p&s(ə)n(ə)l personal organizer /p&s(ə)n(ə)l
personal organizer
personal
personal assets
sets/ plural noun moveable assets ɔ!ənazə/ noun a very small pocket
which belong to a person computer in which you can enter details
personal assistant /p&s(ə)n(ə)l ə
personal assistant
|
of names, addresses, telephone numbers,
sstənt/ noun a person who performs appointments, meetings, etc.
personal pension plan
various secretarial and administrative personal pension plan

tasks for someone in authority such as a /p&s(ə)n(ə)l penʃən pln/ noun a
director pension plan which applies to one em-
personal call /p&s(ə)n(ə)l kɔl/ noun ployee only, usually a self-employed per-
personal call
1. a telephone call where you ask the op- son, not to a group. Abbreviation PPP
personal property /p&s(ə)n(ə)l
personal property
erator to connect you with a particular

person 2. a telephone call not related to prɒpəti/ noun things which belong to a
business 쑗 Staff are not allowed to make person 쑗 The fire caused considerable
personal calls during office hours. damage to personal property.
personnel 300
personnel /p&sə nel/ noun all the petrocurrency /petrəυkrənsi/
personnel petrocurrency
people who work for an organisation or at noun a foreign currency which is earned
a particular location 쑗 The personnel of by exporting oil
the warehouse or the warehouse person- petrodollar /petrəυdɒlə/ noun a dol-
petrodollar
nel have changed their shift system. 쑗 The lar earned by a country from exporting
company is famous for the way it looks af- oil, then invested outside that country
ter its personnel. ( NOTE: now replaced in petrol / petrəl/ noun a liquid, made
petrol
some cases by human resources) from petroleum, used to drive a car engine
personnel department /p&sənel 쑗 The car is very economic on petrol. 쑗
personnel department
dpɑtmənt/ noun same as human re-

|
We are looking for a car with a low petrol
sources department consumption. (NOTE: The US term is
gasoline.)
personnel management /p&sənel
personnel management
petroleum /pətrəυliəm/ noun raw

| petroleum
mnd$mənt/ noun organizing and |
training of staff so that they work well and natural oil, found in the ground
petroleum-exporting countries
petroleum-exporting countries
profitably
/pətrəυliəm ekspɔtŋ kntriz/ noun
personnel manager /p&sənel
personnel manager |
|
countries which produce petroleum and
mnd$ə/ noun same as human resell it to others
sources manager
petroleum industry /pətrəυliəm
petroleum industry
personnel officer /p&sənel ɒfsə/

personnel officer
|
ndəstri/ noun an industry which uses
noun same as human resources officer petroleum to make other products such as
person-to-person call /p&s(ə)n tə petrol or soap
person-to-person call
p&s(ə)n kɔl/ noun a telephone call petroleum products /pətrəυliəm

petroleum products
where you ask the operator to connect you prɒdkts/ plural noun products such as
with a named person petrol, soap and paint which are made
persuade / pəswed/ verb to talk to
persuade
from crude petroleum
petroleum revenues /pətrəυliəm
|
petroleum revenues
someone and get them to do what you |
want 쑗 We could not persuade the French revənjuz/ plural noun income from
company to sign the contract. selling oil
petty cash /peti kʃ/ noun a small
petty cash
peseta /pəsetə/ noun a unit of curren-

peseta
amount of money kept in an office to pay

cy used before the euro in Spain (NOTE: small debts. Abbreviation P/C
Usually written ptas after a figure:
petty cash book /peti kʃ bυk/
petty cash book
2,000ptas.)
noun a book in which petty cash pay-
peso /pesəυ/ noun a unit of currency
peso
ments are noted. Abbreviation PCB

used in Mexico and many other countries petty cash box /peti kʃ bɒks/
petty cash box
such as Argentina, Bolivia, Chile, Colom- noun a locked metal box in an office
bia, Cuba, the Dominican Republic, the where the petty cash is kept
Philippines and Uruguay
petty cash voucher /peti kʃ
petty cash voucher
peter out phrasal verb to come to an vaυtʃə/ noun a piece of paper on which
end gradually cash expenditure is noted so that an em-
‘…economists believe the economy is ployee can be reimbursed for what he or
picking up this quarter and will do better in she has spent on company business
the second half of the year, but most ex-
petty expenses /peti kspensz/
petty expenses
pect growth to peter out next year’

|
[Sunday Times] plural noun small sums of money spent

phase /fez/ noun a period or part of
phase
Peter principle /pitə prnsp(ə)l/

Peter principle
something which takes place 쑗 the first

noun a law, based on wide experience, phase of the expansion programme
that people are promoted until they occu- phase in phrasal verb to bring some-
py positions for which they are incompe- thing in gradually 쑗 The new invoicing
tent system will be phased in over the next
petition /pətʃ(ə)n/ noun an official re-
petition
| two months.
quest 쐽 verb to make an official request 쑗 ‘…the budget grants a tax exemption for
He petitioned the government for a spe- $500,000 in capital gains, phased in over
cial pension. the next six years’ [Toronto Star]
301 picket
phase out phrasal verb to remove document by photographing and printing
something gradually 쑗 Smith Ltd will be it 쑗 she photocopied the contract
phased out as a supplier of spare parts. photocopying /fəυtəυkɒpiŋ/ noun
photocopying
/finks making photocopies 쑗 Photocopying

phoenix company
phoenix company
kmp(ə)ni/ noun a company formed by costs are rising each year. 왍 there is a
the directors of a company which has mass of photocopying to be done there
gone into receivership, which trades in are many documents waiting to be photo-
the same way as the first company, and in copied
most respects (except its name) seems to photocopying bureau /fəυtə
photocopying bureau
| |
be exactly the same as the first company kɒpiŋ bjυərəυ/ noun an office which
‘…the prosecution follows recent calls for photocopies documents for companies
a reform of insolvency legislation to pre- which do not possess their own photocop-
vent directors from leaving behind a trail iers
of debt while continuing to trade in phoe- photo opportunity
photo opportunity
/fəυtəυ
nix companies – businesses which fold ɒpətjunti/ noun an arranged situation
only to rise again, often under a slightly where a famous person can be filmed or
different name in the hands of the same di-
rectors and management’ [Financial photographed by journalists
physical inventory /fzk(ə)l
physical inventory
Times]
phoenixism /finkszm/ noun a situ-
phoenixism
nvənt(ə)ri/ noun an act of counting ac-
ation where phoenix companies can easi- tual items of stock
physical retail shopping / fzk(ə)l
physical retail shopping
ly be set up
ritel ʃɒpŋ/ noun shopping that in-
phone /fəυn/ verb 왍 to phone someone
phone
volves visiting actual shops rather than

to call someone by telephone 쑗 Don’t buying online
phone me, I’ll phone you. 쑗 His secretary
physical stock /fzk(ə)l stɒk/ noun
physical stock
phoned to say he would be late. 쑗 He

phoned the order through to the ware- the actual items of stock held in a ware-
house. 왍 to phone for something to make house
physical stock check /fzk(ə)l
physical stock check
a phone call to ask for something 쑗 he

phoned for a taxi 왍 to phone about stɒk tʃek/ noun the task of counting ac-
something to make a phone call to speak tual items of stock (and then checking this
about something 쑗 He phoned about the figure against stock records)
January invoice. PIA abbr Personal Investment Authority
PIA
phone back phrasal verb to reply by pick /pk/ verb to choose 쑗 The board
pick
phone 쑗 The chairman is in a meeting, picked the finance director to succeed the
can you phone back in about half an retiring MD. 쑗 The Association has
hour? 쑗 Mr Smith called while you were picked Paris for its next meeting.
out and asked if you would phone him pick out phrasal verb to choose (some-
back. thing or someone) out of a lot 쑗 He was
phone book /fəυn bυk/ noun a book
phone book
picked out for promotion by the chair-

which lists names of people or companies man.
with their addresses and telephone num- pick up phrasal verb 1. to get better or
bers to improve 쑗 Business or Trade is pick-
phone call /fəυn kɔl/ noun an act of
phone call
ing up. 2. to fetch something or some-
speaking to someone on the phone one in a vehicle 쑗 The company sent a
driver to pick him up at the airport. 쑗
phone pad / fəυn pd/ noun a pad of
phone pad
We sent a courier to pick up the packet

paper kept by a telephone for noting mes- and deliver it to the designer.
sages
picket / pkt/ noun a striking employee
picket
photocopier /fəυtəυkɒpiə/ noun a

photocopier
|
who stands at the entrance to a place of
machine which makes a copy of a docu- work to try to persuade other employees
ment by photographing and printing it not to go to work 왍 to cross a picket line
photocopy /fəυtəυkɒpi/ noun a copy
photocopy
to go into a place to work, even though

of a document made by photographing pickets are trying to prevent employees
and printing it 쑗 Make six photocopies of from going in 쐽 verb 왍 to picket a facto-
the contract. 쐽 verb to make a copy of a ry to stand at the entrance of a place of
picketing 302
work to try to prevent other employees hole but there were no letters for me. 쐽
from going to work verb to file a plan or document as the best
picketing /pktŋ/ noun the act of way of forgetting about it 쑗 The whole ex-
picketing
standing at the entrance of a place of work pansion plan was pigeonholed.

to try to prevent other employees going to pile /pal/ noun a lot of things put one on
pile
work 왍 lawful picketing picketing which top of the other 쑗 The Managing Direc-
is allowed by law 왍 peaceful picketing tor’s desk is covered with piles of paper. 쑗
picketing which does not involve aggres- She put the letter on the pile of letters
sion waiting to be signed. 쐽 verb to put things
picket line /pkt lan/ noun a line of on top of one another 쑗 He piled the pa-
picket line
pickets at the entrance of a place of work pers on his desk.

쑗 to man a picket line or to be on the pick- pile up phrasal verb to put or get into a
et line pile 쑗 The invoices were piled up on the
picking /pkŋ/ noun the selecting of a table. 쑗 Complaints are piling up about
picking
product according to its packaging or the after-sales service.

place on the shelf, rather than by making /plfərd$/,
pilferage
pilferage pilfering
a conscious decision to buy /plfərŋ/ noun the stealing of small
picking list /pkŋ lst/ noun a list of
picking list
amounts of money or small items from an

items in an order, listed according to office or shop
where they can be found in the warehouse pilot /palət/ adjective used as a test,
pilot
pickup /pkp/ noun a type of small

pickup
which if successful will then be expanded

van for transporting goods into a full operation 쑗 The company set
pickup and delivery service
pickup and delivery service
up a pilot project to see if the proposed

/pkp ən dlv(ə)ri s&vs/ noun 1. a
| manufacturing system was efficient. 쑗
service which takes goods from the ware- The pilot factory has been built to test the
house and delivers them to the customer new production processes. 쑗 She is di-
2. a service which takes something away recting a pilot scheme for training unem-
for cleaning or servicing and returns it to ployed young people. 쐽 verb to test a
the owner when finished project on a small number of people, to
picture messaging /pktʃə see if it will work in practice 쐽 noun a test
picture messaging
mesd$ŋ/ noun the transmission of im- project, undertaken to see whether some-
ages and photographs from one mobile thing is likely to be successful or profita-
phone to another ble
piece /pis/ noun a small part of some- pilot’s case /paləts kes/ noun a
piece pilot’s case
thing 쑗 to sell something by the piece 쑗 strong square leather case for carrying
The price is 25p the piece. documents, used by salesmen to carry
piece rate /pis ret/ noun a rate of samples, order forms, etc.
piece rate
pay calculated as an amount for each PIN / pn/ abbr Personal Identification
PIN
product produced or for each piece of Number

work done and not as an amount for each pink advertising /pŋk dvətazŋ/
pink advertising
hour worked 쑗 to earn piece rates noun advertising aimed specifically at the
piecework /pisw&k/ noun work for
piecework
gay and lesbian market

which employees are paid in accordance
pink market /pŋk mɑkt/ noun the
pink market
with the number of products produced or

pieces of work done and not at an hourly market that consists of gay and lesbian
rate people
pin money /pn mni/ noun a small
pin money
pieceworker /pisw&kə/ noun a per-

pieceworker
son who is employed at a piece rate amount of money earned, used for per-
pie chart /pa tʃɑt/ noun a diagram
pie chart
sonal expenditure 쑗 She does some typing
where information is shown as a circle cut at home to earn some pin money.
PIN number /pn nmbə/ same as
PIN number
up into sections of different sizes

pigeonhole /pd$ənhəυl/ noun one of
pigeonhole
Personal Identification Number
a series of small spaces for filing docu- (informal)
pint /pant/ noun a measure of liquids (=
pint
ments or for putting letters for delivery to

separate offices 쑗 I looked in my pigeon- 0.568 of a litre)
303 plan
pioneer /paənə/ noun the first to do placement /plesmənt/ noun the act
pioneer placement
a type of work 쐽 verb to be the first to do of finding work for someone 쑗 The bu-
something 쑗 The company pioneered de- reau specialises in the placement of
velopments in the field of electronics. former executives.
place of work /ples əv w&k/ noun
place of work
/paənə
pioneer project
pioneer project |
prɒd$ekt/ noun a project or develop- an office, factory, etc., where people work
placing /plesŋ/ noun the act of find-
placing
ment which is new and has never been

tried before ing a single buyer or a group of institu-
pipeline /paplan/ noun a distribution
pipeline
tional buyers for a large number of shares
channel from the manufacturer through in a new company or a company that is
wholesalers and retailers to the customer going public 왍 the placing of a line of
쑗 How many different businesses are in-
shares finding a purchaser for a block of
volved in the product’s pipeline? shares which was overhanging the market
plain /plen/ adjective 1. easy to under-
plain
piracy /parəsi/ noun the copying of

piracy
stand 쑗 We made it plain to the union that

patented inventions or copyright works 5% was the management’s final offer. 2.
pirate /parət/ noun a person who cop-
pirate
simple 쑗 The design of the package is in

ies a patented invention or a copyright plain blue and white squares. 쑗 We want
work and sells it 쐽 verb to copy a copy- the cheaper models to have a plain de-
right work 쑗 a pirated book 쑗 The design.
signs for the new dress collection were pi- plain cover /plen kvə/ noun 왍 to
plain cover
rated in the Far East. send something under plain cover to

pit / pt/ noun 1. a coal mine 2. the area
pit
send something in an ordinary envelope

of a stock exchange or of a commodities with no company name printed on it
exchange where dealers trade plain paper /plen pepə/ noun ordi-
plain paper
pitch /ptʃ/ noun a presentation by an nary white paper

pitch
plain paper copier /plen pepə

plain paper copier
advertising agency to a potential custom-

er kɒpiə/ noun a copier which uses ordi-
pix /pks/ plural noun pictures used in
pix
nary white paper, not special copier paper
plain paper fax / plen pepə fks/
plain paper fax
advertising or design (informal )

noun a fax machine which uses ordinary
place /ples/ noun 1. where something
place
white paper and not special fax paper

is or where something happens 왍 to take
plain text e-mail /plen tekst i
plain text e-mail
place to happen 쑗 The meeting will take |
place in our offices. 2. a position (in a mel/ noun e-mail in a basic simple for-
competition) 쑗 Three companies are mat that is cheap to produce and can be
fighting for first place in the home compu- read even by older e-mail systems, which
ter market. 3. a job 쑗 He was offered a may be unable to receive HTML messag-
place with an insurance company. 쑗 She es
plaintiff /plentf/ noun a person who
plaintiff
turned down three places before accept-

ing the one we offered. 4. a position in a starts an action against someone in the
text 쑗 She marked her place in the text civil courts (NOTE: Since April 1999, this
with a red pen. 쑗 I have lost my place and term has been replaced by claimant.)
plan /pln/ noun 1. an idea of how
plan
cannot remember where I have reached in

my filing. 쐽 verb 1. to put 왍 to place something should be done, which has
money in an account to deposit money in been decided on and organised in advance
an account 왍 to place a block of shares 왍 the government’s economic plans the
to find a buyer for a block of shares 왍 to government’s proposals for running the
place a contract to decide that a certain country’s economy 2. an organised way
company shall have the contract to do of doing something 쑗 an investment plan
work 왍 to place something on file to file 쑗 a pension plan 쑗 a savings plan 3. a
something 2. 왍 to place an order to order drawing which shows how something is
something 쑗 He placed an order for 250 arranged or how something will be built 쑗
cartons of paper. 3. 왍 to place staff to The designers showed us the first plans
find jobs for staff 왍 how are you placed for the new offices. 4. a way of saving or
for work? have you enough work to do? investing money 쐽 verb 1. to organise
planned economy 304

carefully how something should be done of the country. 쑗 He was appointed plant
in the future 왍 to plan for an increase in manager.
bank interest charges to change a way of plant-hire firm /plɑnt haə f&m/
plant-hire firm
doing things because you think there will noun a company which lends large ma-
be an increase in bank interest charges 왍 chines (such as cranes and tractors) to
to plan investments to propose how in- building companies
vestments should be made 2. to decide on plastic money /plstk mni/ noun
plastic money
and organise something in advance credit cards and charge cards 왍 do you
(NOTE: planning – planned) take plastic? can I pay by credit card?
‘…the benefits package is attractive and
plateau /pltəυ/ noun a level point,
plateau
the compensation plan includes base, in-

centive and car allowance totalling e.g. when sales or costs stop increasing
platform /pltfɔm/ noun 1. a basic
platform
$50,000+’ [Globe and Mail (Toronto)]

economy /plnd 
planned economy
planned |
product that can be added to in order to
kɒnəmi/ noun a system where the gov- develop more complex products 쑗 The
ernment plans all business activity, regu- train for Birmingham leaves from Plat-
lates supply, sets production targets and form 12. 2. a system that can be used to
itemises work to be done. Also called deliver services, e.g. a communications
command economy, central planning network is a platform for delivering infor-
mation
planned obsolescence /plnd
planned obsolescence
Plc, PLC, plc abbr public limited com-

Plc
ɒbsəles(ə)ns/ adjective built-in obso-

|
lescence 쑗 Planned obsolescence was pany

plead /plid/ verb 1. to speak on behalf
plead
condemned by the consumer organisation

as a cynical marketing ploy. of a client in court 2. to answer a charge
planner /plnə/ noun a person who
planner
in a criminal court 왍 to plead guilty to
say at the beginning of a trial that you did
plans 왍 the government’s economic commit the crime of which you are ac-
planners people who plan the future
cused 왍 to plead not guilty to say at the
economy of the country for the govern- beginning of a trial that you did not com-
ment mit the crime of which you are accused
planning /plnŋ/ noun the process of
planning
pledge /pled$/ noun an object given to

pledge
organising how something should be a pawnbroker as security for money bor-

done in the future 쑗 Setting up a new in- rowed 왍 to redeem a pledge to pay back
centive scheme with insufficient planning a loan and interest and so get back the se-
could be a disaster. 쑗 The long-term plan- curity 쐽 verb 왍 to pledge share certifi-
ning or short-term planning of the project cates to deposit share certificates with a
has been completed. lender as security for money borrowed
‘…buildings are closely regulated by plan- (the title to the certificates is not trans-
ning restrictions’ [Investors Chronicle] ferred and the certificates are returned
planning department /plnŋ d
planning department
| when the debt is repaid)

pɑtmənt/ noun a section of a local gov- plenary meeting /plinəri mitŋ/,
plenary meeting
ernment office which deals with requests plenary session /plinəri seʃ(ə)n/
for planning permission noun a meeting at a conference when all
planning permission /plnŋ pə
planning permission
| the delegates meet together

mʃ(ə)n/ noun an official document al- Plimsoll Line /plmsəl lan/ noun a
Plimsoll Line
lowing a person or company to plan new line painted on the side of a ship to show
buildings on empty land 쑗 to be refused where the water should reach for maxi-
planning permission 쑗 We are waiting for mum safety if the ship is fully loaded.
planning permission before we can start Also called load line
building. 쑗 The land is to be sold with plough back /(verb), plaυ bk/
planning permission. phrasal verb 왍 to plough back profits
plant /plɑnt/ noun 1. industrial ma-
plant
into the company to invest the profits

chinery and equipment 2. a large factory in the business (and not pay them out as
쑗 to set up a new plant 쑗 They are plan- dividends to the shareholders) by using
ning to build a car plant near the river. 쑗 them to buy new equipment or to create
They closed down six plants in the north new products (NOTE: The US spelling is
305 policy
plow back.) point /pɔnt/ noun 1. a place or position
point
plug /pl!/ noun 왍 to give a plug to a 2. same as decimal point 3. a unit for
plug
new product to publicise a new product calculations 왍 the dollar gained two
쐽 verb 1. 왍 to plug in to attach a machine points the dollar increased in value
to the electricity supply 쑗 The fax ma- against another currency by two hun-
chine was not plugged in. 2. to publicise dredths of a cent 왍 the exchange fell ten
or advertise 쑗 They ran six commercials points the stock market index fell by ten
plugging holidays in Spain. (NOTE: plug- units 쐽 verb 왍 to point out to show 쑗 The
ging- plugged) 3. to block or to stop 쑗 report points out the mistakes made by the
The company is trying to plug the drain company over the last year. 쑗 He pointed
on cash reserves. (NOTE: plugging – out that the results were better than in
plugged) previous years.
plummet /plmt/, plunge /plnd$/
plummet
‘…sterling M3, the most closely watched
verb to fall sharply 쑗 Share prices plum- measure, rose by 13% in the year to Au-
meted or plunged on the news of the de- gust – seven percentage points faster than
the rate of inflation’ [Economist]
valuation.
‘…banks refrained from quoting forward
‘…in the first six months of this year sec- US/Hongkong dollar exchange rates as
ondhand values of tankers have plummet- premiums of 100 points replaced dis-
ed by 40%’ [Lloyd’s List] counts of up to 50 points’ [South
‘…crude oil output plunged during the China Morning Post]
past month’ [Wall Street Journal]
point of sale /pɔnt əv sel/ noun a
point of sale
plus /pls/ preposition added to 쑗 Her

plus
place where a product is sold, e.g. a shop.

salary plus commission comes to more Abbreviation POS
than £45,000. 쑗 Production costs plus point-of-sale material /pɔnt əv
point-of-sale material
overheads are higher than revenue. 쐽 ad-

verb more than 왍 houses valued at
sel mətəriəl/ noun a display material
|
to advertise a product where it is being

£100,000 plus houses valued at over sold, e.g. posters or dump bins. Abbrevia-
£100,000 쐽 adjective favourable, good tion POS material
and profitable 쑗 A plus factor for the com-
poison pill /pɔz(ə)n pl/ noun an ac-
poison pill
pany is that the market is much larger

than they had originally thought. 왍 the tion taken by a company to make itself
plus side of the account the credit side of less attractive to a potential takeover bid
the account 왍 on the plus side this is a fa- COMMENT: In some cases, the officers of
a company will vote themselves ex-
vourable point 쑗 On the plus side, we tremely high redundancy payments if a
must take into account the new product takeover is successful; or a company will
line. 쐽 noun a good or favourable point 쑗 borrow large amounts of money and give
To have achieved £1m in new sales in less it away to the shareholders as dividends,
than six months is certainly a plus for the so that the company has an unaccepta-
sales team. 쑗 His marketing experience is bly high level of borrowing.
police record /pəlis rekɔd/ noun a
police record
a definite plus. |
p.m. /piem/ adverb in the afternoon or

p.m.
note of previous crimes for which some-
one has been convicted 쑗 He did not say
|
in the evening, after 12 o’clock midday 쑗

The train leaves at 6.50 p.m. 쑗 If you that he had a police record.
policy /pɒlsi/ noun 1. a course of ac-
policy
phone New York after 6 p.m. the calls are

at a cheaper rate. (NOTE: The US spelling tion or set of principles determining the
is P.M.) general way of doing something 쑗 a com-
PO
PO abbr post office pany’s trading policy 쑗 The country’s

economic policy seems to lack any direc-
pocket /pɒkt/ noun 왍 to be £25 in
pocket
tion. 쑗 We have a policy of only hiring

pocket to have made a profit of £25 왍 to qualified staff. 쑗 Our policy is to submit
be £25 out of pocket to have lost £25 all contracts to the legal department. 왍
pocket envelope /pɒkt envələυp/
pocket envelope
company policy the company’s agreed

noun a type of envelope with the flap at plan of action or the company’s way of
the end, on the shorter side (an envelope doing things 쑗 What is the company poli-
with a flap along the longer side, is called cy on credit? 쑗 It is against company pol-
a ‘wallet envelope’) icy to give more than thirty days’ credit.
policyholder 306
2. a course of action or set of principles 3. poorly presented. 왍 poorly-paid staff
a contract for insurance 왍 to take out a staff with low wages
policy to sign the contract for an insur- popular /pɒpjυlə/ adjective liked by
popular
ance and start paying the premiums 쑗 She many people 쑗 This is our most popular
took out a life insurance policy or a house model. 쑗 The South Coast is the most
insurance policy. 왍 the insurance com- popular area for holidays.
pany made out a policy, drew up a pol- popular price /pɒpjυlə pras/ noun
popular price
icy the company wrote the details of the a price which is low and therefore liked
contract on the policy population /pɒpjυleʃ(ə)n/ noun 1.
population
policyholder /pɒlsihəυldə/ noun a

policyholder
|
all the people living in a particular coun-
person who is insured by an insurance try or area 쑗 Paris has a population of
company over three million. 쑗 Population statistics
policy statement /pɒlsi stetmənt/ show a rise in the 18–25 age group. 쑗
policy statement
noun the government declared in public Population trends have to be taken into
what its plans were account when drawing up economic
polite /pəlat/ adjective behaving in a
polite
|
plans. 쑗 The working population of the
pleasant way 쑗 We insist on our sales staff country is getting older. 2. the group of
being polite to customers. 쑗 We had a po- items or people in a survey or study
population forecast /pɒpjυ
population forecast
lite letter from the MD. |
political /pəltk(ə)l/ adjective refer-

political
leʃ(ə)n fɔkɑst/ noun a calculation of
how many people will be living in a coun-
|
ring to a certain idea of how a country

should be run try or in a town at some point in the future
pop-under ad /pɒp ndər d/ noun
pop-under ad
political levy /pəltk(ə)l levi/ noun

political levy
|
a web advertisement that appears in a sep-
a part of the subscription of a member of arate browser window from the rest of a
a trade union which the union pays to sup- website
port a political party
pop-up menu /pɒp p menju/ noun
pop-up menu
political party /pəltk(ə)l pɑti/

political party
|
a menu of options that can be displayed at
noun a group of people who believe a any time, usually covering part of other
country should be run in a certain way text on the screen in the process
poll /pəυl/ noun same as opinion poll 쐽 portable /pɔtəb(ə)l/ adjective possi-
poll
portable
verb 왍 to poll a sample of the popula- ble to carry 쑗 a portable computer 쐽

tion to ask a sample group of people what noun 왍 a portable a computer or type-
they feel about something 왍 to poll the writer which can be carried 쑗 He keys all
members of the club on an issue to ask his orders on his portable and then emails
the members for their opinion on an issue them to the office.
pollster /pəυlstə/ noun an expert in
pollster
portable document format

portable document format
understanding what polls mean /pɔtəb(ə)l dɒkjυmənt fɔmt/ noun

pool /pul/ noun 1. an unused supply 쑗 full form of PDF
pool
portable pension /pɔtəb(ə)l

portable pension
a pool of unemployed labour or of exper-

tise 2. US a group of mortgages and other penʃən/, portable pension plan
collateral used to back a loan 쐽 verb 왍 to /pɔtəb(ə)l penʃən pln/ noun a pen-
pool resources to put all resources to- sion entitlement which can be moved
gether so as to be more powerful or prof- from one company to another without
itable loss (as an employee changes jobs)
poor /pɔ/ adjective 1. without much port authority /pɔt ɔθɒrti/ noun
port authority
poor
|
money 쑗 The company tries to help the an organisation which runs a port
poorest members of staff with loans. 쑗 It port charges /pɔt tʃɑd$z/ noun
port charges
is one of the poorest countries in the payment which a ship makes to the port
world. 2. not very good 쑗 poor quality 쑗 authority for the right to use the port
poor service 쑗 poor performance by of- portfolio /pɔtfəυliəυ/ noun 왍 a port-
portfolio
fice staff 쑗 poor organisation of working folio of shares all the shares owned by a
methods single investor
poorly /pɔli/ adverb badly 쑗 The offic- /pɔt
poorly
portfolio management
portfolio management
es are poorly laid out. 쑗 The plan was fəυliəυ mnd$mənt/ noun the buying
307 poste restante

and selling shares to make profits for a possible dates for our next meeting. 쑗 It is
single investor possible that production will be held up
port installations /pɔt nstə
port installations
|
by industrial action. 왍 there are two pos-
leʃ(ə)nz/ plural noun the buildings and sible candidates for the job two candi-
equipment of a port dates are good enough to be appointed
port of embarkation /pɔt əv post- /pəυst/ prefix after
port of embarkation post-
mbɑkeʃ(ə)n/ noun a port at which

|
postage /pəυstd$/ noun payment for
postage
you get on to a ship sending a letter or parcel by post 쑗 What

port of registry /pɔt əv red$stri/
port of registry
is the postage for this airmail packet to

noun a port where a ship is registered China?
POS, p.o.s. abbr point of sale postage stamp /pəυstd$ stmp/
POS
postage stamp
position /pəzʃ(ə)n/ noun 1. a situa-

position
| noun a small piece of gummed paper

tion or state of affairs 왍 what is the cash which you buy from a post office and
position? what is the state of the compa- stick on a letter or parcel to pay for the
ny’s current account? 2. a point of view 3. postage 쑗 You’ll need two £1 stamps for
a job or paid work in a company 쑗 to ap- the parcel.
ply for a position as manager 쑗 We have postal /pəυst(ə)l/ adjective referring
postal
several positions vacant. 쑗 All the vacant to the post

positions have been filled. 쑗 She retired
postal ballot /pəυst(ə)l blət/,
postal ballot
from her position in the accounts depart-

postal vote /pəυst(ə)l vəυt/ noun an
ment. 왍 he is in a key position he has an
important job election where the voters send their ballot
papers by post
positioning /pəzʃ(ə)nŋ/ noun 1. the
positioning
postal charges /pəυst(ə)l tʃɑd$z/

| postal charges
creation of an image for a product in the

minds of consumers 2. the promotion of a plural noun money to be paid for sending
product in a particular area of a market letters or parcels by post 쑗 Postal charges
are going up by 10% in September.
position of trust /pəzʃ(ə)n əv
position of trust
postal order /pəυst(ə)l ɔdə/ noun a

|
postal order
trst/ noun a job in which a person is

trusted to act correctly and honestly document bought at a post office, used as
positive /pɒztv/ adjective meaning
positive
a method of paying small amounts of
‘yes’ 쑗 The board gave a positive reply. money by post
postal packet /pəυst(ə)l pkt/
postal packet
positive cash flow / pɒztv kʃ

positive cash flow
fləυ/ noun a situation where more money noun a small container of goods sent by
is coming into a company than is going post
post-balance sheet event /pəυst
post-balance sheet event
out
possess /pəzes/ verb to own some-
possess
|
bləns ʃit vent/ noun something
|
thing 쑗 The company possesses property which happens after the date when the
in the centre of the town. 쑗 He lost all he balance sheet is drawn up, and before the
possessed in the collapse of his company. time when the balance sheet is officially
Compare repossess approved by the directors, which affects a
possession /pəzeʃ(ə)n/ noun the fact
possession
|
company’s financial position
of owning or having something 왍 the postdate /pəυstdet/ verb to put a lat-
postdate
documents are in his possession he is er date on a document 쑗 He sent us a

holding the documents postdated cheque. 쑗 Her cheque was
possessions /pəzeʃ(ə)nz/ plural postdated to June.
possessions
noun property, things owned 쑗 They lost poster /pəυstə/ noun a large eye-
poster
all their possessions in the fire. Compare catching notice or advertisement which is
repossession stuck up outdoors or placed prominently
possibility /pɒsblti/ noun the state inside a store
possibility
of being likely to happen 쑗 There is a pos- poste restante /pəυst restɑnt/

poste restante
sibility that the plane will be early. 쑗 noun a system where letters can be ad-
There is no possibility of the chairman re- dressed to someone at a post office, where
tiring before next Christmas. they can be collected 쑗 Send any messag-
possible /pɒsb(ə)l/ adjective which
possible
es to ‘Poste Restante, Athens’. (NOTE: The

might happen 쑗 The 25th and 26th are US term is General Delivery.)
Post-it ® Notes 308

Post-it ® Notes /pəυst t nəυtz/ written’: an additional note at the end of a
Post-it ® Notes
noun a trademark for small pieces of pa- letter

per, partially sticky on one side, sold in potential /pətenʃəl/ adjective possible
potential
pads (you write on a note and then stick it 왍 potential customers people who could
onto a document, a telephone, a computer be customers 왍 potential market a mar-
monitor, etc.) 쑗 She left me a Post-it Note ket which could be exploited 왍 the prod-
with the telephone number on my compu- uct has potential sales of 100,000 units
ter keyboard. the product will possibly sell 100,000
postmark /pəυstmɑk/ noun a mark
postmark
units 왍 she is a potential managing di-

stamped by the Post Office on a letter, rector she is the sort of person who could
covering the postage stamp, to show that become managing director 쐽 noun the
the Post Office has accepted it 쑗 letter possibility of becoming something 왍 a
with a London postmark 쐽 verb to stamp share with a growth potential or with a
a letter with a postmark 쑗 The letter was potential for growth a share which is
postmarked New York. likely to increase in value 왍 a product
with considerable sales potential a
post office /pəυst ɒfs/ noun 1. a
post office
product which is likely to have very large

building where the postal services are sales 왍 to analyse the market potential
based 쑗 main post office 2. a shop where to examine the market to see how large it
you can buy stamps, send parcels, etc. 3. possibly is
a national organisation which deals with
sending letters and parcels 쑗 Post Office ‘…career prospects are excellent for
someone with growth potential’
officials or officials of the Post Office 쑗 [Australian Financial Review]
The Post Office van was collecting mail
from the box. ‘…for sale: established general cleaning
business; has potential to be increased to
‘…travellers cheques cost 1% of their face over 1 million dollar turnover’ [Australian
value and can be purchased from any Financial Review]
bank, main post offices, travel agents and
poundage /paυndd$/ noun 1. a rate
poundage
several building societies’ [Sunday Times]

charged per pound in weight 2. tax
Post Office box number /pəυst
Post Office box number
charged per pound in value

ɒfs bɒks nmbə/ noun a reference
pound sterling /paυnd st&lŋ/ noun
pound sterling
number given for delivering mail to a post

office, so as not to give the actual address the official term for the British currency
poverty /pɒvəti/ noun the condition of
poverty
of the person who will receive it

postpaid /pəυstped/ adjective with
postpaid
|
being poor 쑗 He lost all his money and
the postage already paid 쑗 The price is died in poverty.
poverty trap /pɒvəti trp/ noun a sit-
poverty trap
£5.95 postpaid.
uation where a poor person lives on gov-
postpone /pəυstpəυn/ verb to arrange
postpone
ernment benefits and cannot afford to

for something to take place later than
planned 쑗 He postponed the meeting to earn more money because he or she
would then lose the benefits and be worse
tomorrow. 쑗 They asked if they could
postpone payment until the cash situation off
power /paυə/ noun 1. strength or abili-
power
was better.
ty 왍 the power of a consumer group
/pəυs pəυnmənt/
postponement
postponement |
ability of a group to influence the govern-

noun the act of arranging for something ment or manufacturers 2. a force or legal
to take place later than planned 쑗 I had to right 왍 the full power of the law the full
change my appointments because of the force of the law when applied 쑗 We will
postponement of the board meeting. apply the full power of the law to get pos-
post room /pəυst rum/ noun a room
post room
session of our property again. 쑗 There

in a building where the post is sorted and was a power struggle in the boardroom,
sent to each department or collected from and the finance director had to resign.
each department for sending power centre /paυə sentə/ noun the
power centre
post scriptum /pəυs skrptəm/,

post scriptum
most powerful part of an organisation, the

postscript (P.S.) /pəυskrpt/ Latin one that has the greatest influence on pol-
phrase meaning ‘after what has been icy
309 preferential terms

power of attorney /paυər əv ət&ni/ pre-empt /pri empt/ verb to stop
power of attorney pre-empt
noun a legal document which gives some- something happening or stop someone
one the right to act on someone’s behalf in doing something by taking action quickly
legal matters before anyone else can 쑗 They staged a
power structure /paυə strktʃə/ management buyout to pre-empt a takeo-
power structure
noun the way in which authority and in- ver bid.

pre-emptive /pri emptv/ adjective
pre-emptive
fluence are divided up among the differ-

ent groups or individuals who make up an done before anyone else takes action in
organisation order to stop something happening 왍 pre-
p.p. abbr per procurationem 쐽 verb 왍 to emptive strike against a takeover bid
p.p.
p.p. a letter to sign a letter on behalf of rapid action taken to prevent a takeover
someone 쑗 Her assistant p.p.’d the letter bid
pre-emptive right /pri emptv rat/
pre-emptive right
while the manager was at lunch.

PR abbr public relations 쑗 A PR firm is
PR
noun US 1. a right of a government or of
handling all our publicity. 쑗 She works in a local authority to buy a property before
PR. 쑗 The PR people gave away 100,000 anyone else 2. the right of a shareholder
balloons. to be first to buy a new stock issue
prefer /prf&/ verb to like something
prefer
practice /prkts/ noun 1. a way of

practice
|
doing things, a custom or habit 쑗 Her better than another thing 쑗 We prefer the
practice was to arrive at work at 7.30 and small corner shop to the large supermar-
start counting the cash. 왍 to depart from ket. 쑗 Most customers prefer to choose
normal practice to act in a different way clothes themselves, rather than take the
from the normal way of doing things 2. 왍 advice of the sales assistant.
preference / pref(ə)rəns/ noun 1. a
preference
in practice when actually done 쑗 The

marketing plan seems very interesting, thing which someone prefers 쑗 the cus-
but what will it cost in practice? tomers’ preference for small corner shops
‘…the EC demanded international 2. a thing which has an advantage over
arbitration over the pricing practices of something else
the provincial boards’ [Globe and Mail COMMENT: Preference shares, because
(Toronto)] they have less risk than ordinary shares,
normally carry no voting rights.
pre- /pri/ prefix before 쑗 a pre-stocktak-
pre-
preference shareholder
preference shareholder
ing sale 쑗 there will be a pre-AGM board

/pref(ə)rəns ʃeəhəυldə/ noun an own-
meeting or there will be a board meeting
pre the AGM 쑗 The pre-Christmas period er of preference shares
preference shares /pref(ə)rəns
preference shares
is always very busy.

precautionary
precautionary measure
measure /pr
ʃeəz/ plural noun shares, often with no
voting rights, which receive their divi-
|
kɔʃ(ə)n(ə)ri me$ə/ noun an action tak-

en to prevent something unwanted taking dend before all other shares and are repaid
place first at face value if the company goes into
liquidation (NOTE: The US term is pre-
precautions /prkɔʃ(ə)nz/ plural
precautions
|
ferred stock.)
noun measures taken to avoid something COMMENT: Preference shares, because
unpleasant 쑗 We intend to take precau- they have less risk than ordinary shares,
tions to prevent thefts in the office. 쑗 The normally carry no voting rights.
company did not take proper fire precau- preferential /prefərenʃəl/ adjective
preferential
tions. showing that something is preferred more

precinct /prisŋkt/ noun 1. a separate than another
precinct
area 2. US an administrative district in a preferential creditor /prefə

preferential creditor
town renʃ(ə)l kredtə/ noun a creditor who

predecessor /pridsesə/ noun a per- must be paid first if a company is in liqui-
predecessor
son who had a job or position before dation. Also called preferred creditor
someone else 쑗 He took over from his preferential duty /prefərenʃ(ə)l
preferential duty
predecessor last May. 쑗 She is using the djuti/ noun a special low rate of tax
same office as her predecessor. preferential terms /prefərenʃ(ə)l
preferential terms
predict /prdkt/ verb to say that some- t&ms/ noun terms or a way of dealing
predict
thing will happen in the future which is better than usual 쑗 Subsidiary
preferred creditor 310

companies get preferential treatment ‘…greenmail, the practice of buying back
when it comes to subcontracting work. stock at a premium from an acquirer who
preferred creditor
preferred creditor /prf&d |

threatens a takeover’ [Duns Business
kredtə/ noun same as preferential Month]
creditor ‘…responsibilities include the production
of premium quality business reports’
preferred shares /prf&d ʃeəz/,
preferred shares
|
[Times]
preferred stock /prf&d stɒk/ plural
|
premium bond /primiəm bɒnd/

premium bond
noun same as preference shares noun a government bond, part of the Na-
pre-financing /pri fannsŋ/ noun
pre-financing
tional Savings scheme, which pays no in-

financing in advance terest, but gives the owner the chance to
prejudice /pred$υds/ noun 1. bias or win a weekly or monthly prize
prejudice
unjust feelings against someone 2. harm premium offer /primiəm ɒfə/ noun
premium offer
done to someone 왍 without prejudice a free gift offered to attract more custom-
without harming any interests (a phrase ers
spoken or written in letters when trying to premium
premium pricing
pricing / primiəm
negotiate a settlement, meaning that the prasŋ/ noun the act of giving products
negotiations cannot be referred to in court or services high prices either to give the
or relied upon by the other party if the dis- impression that the product is worth more
cussions fail) 왍 to act to the prejudice of than it really is, or as a means of offering
a claim to do something which may harm customers an extra service
a claim 쐽 verb to harm 쑗 to prejudice
premium quality / primiəm
premium quality
someone’s claim
kwɒlti/ noun top quality
preliminary /prlmn(ə)ri/ adjective
preliminary
prepack /pripk/, prepackage /pri

prepack
|
early, happening before anything else 왍

| |
pkd$/ verb to pack something before

preliminary discussion, a preliminary
meeting discussion or meeting which putting it on sale 쑗 The fruit are pre-
packed in plastic trays. 쑗 The watches are
takes place before the main discussion or
meeting starts prepacked in attractive display boxes.
prepackaged choice /pripkd$d
prepackaged choice
‘…preliminary indications of the level of |
business investment and activity during tʃɔs/ noun a set of multimedia computer
the March quarter will be available this material that cannot be customised by the
week’ [Australian Financial Review] user
prepaid /priped/ adjective paid in
prepaid
preliminary prospectus /pr

preliminary prospectus
|
|
lmn(ə)ri prəspektəs/ noun same as

|
advance
prepaid reply card /priped rpla
prepaid reply card
pathfinder prospectus |
premises /premsz/ plural noun

premises
kɑd/ noun a stamped addressed card
building and the land it stands on 왍 on the which is sent to someone so that they can
premises in the building 쑗 There is a doc- reply without paying the postage
prepay /pripe/ verb to pay something
prepay
tor on the premises at all times. |
premium /primiəm/ noun 1. a regular

premium
in advance (NOTE: prepaying – prepaid)
prepayment /pripemənt/ noun a
prepayment
payment made to an insurance company |
for the protection provided by an insur- payment in advance, or the act of paying
ance policy 2. an amount to be paid to a in advance 왍 to ask for prepayment of a
landlord or a tenant for the right to take fee to ask for the fee to be paid before the
over a lease 쑗 flat to let with a premium of work is done
£10,000 쑗 annual rent: £8,500, premium: present /prez(ə)nt/ noun something
present
£25,000 3. an extra sum of money in ad- which is given 쑗 these calculators make
dition to a usual charge, wage, price or good presents 쑗 The office gave her a
other amount 왍 shares sold at a premi- present when she got married. 쐽 adjec-
um shares whose price is higher than their tive 1. happening now 쑗 The shares are
face value 쑗 New shares whose market too expensive at their present price. 쑗
price is higher than their issue price. 4. a What is the present address of the compa-
gift, discount or other incentive to encour- ny? 2. being there when something hap-
age someone to buy 쐽 adjective 1. of very pens 쑗 Only six directors were present at
high quality 2. very high the board meeting. 쐽 verb / przent/ 1. to
|
311 pressure
give someone something 쑗 He was pre- has been appointed president of the com-
sented with a watch on completing twen- pany.
ty-five years’ service with the company. 2. COMMENT: In the UK, president is some-
to bring or send and show a document 왍 times a title given to a non-executive
to present a bill for acceptance to former chairman of a company; in the
USA, the president is the main executive
present a bill for payment by the person director of a company.
who has accepted it 왍 to present a bill for press /pres/ noun newspapers and mag-
press
payment to send a bill to be paid 3. vti to

azines 쑗 We plan to give the product a lot
give a talk about or demonstration of of press publicity. 쑗 There was no men-
something 쑗 I’ve been asked to present at
tion of the new product in the press. 앳
the sales conference. 쑗 The HR director press the flesh /pres ðə fleʃ/ to shake
will present the new staff structure to the
hands with people at a business function
Board. (informal)
presentation /prez(ə)nteʃ(ə)n/
presentation
press conference /pres

press conference
|
noun 1. the showing of a document 왍 kɒnf(ə)rəns/ noun a meeting where

cheque payable on presentation a newspaper and TV reporters are invited to
cheque which will be paid when it is pre- hear news of something such as a new
sented 왍 free admission on presentation product or a takeover bid
of this card you do not pay to go in if you
press coverage /pres kv(ə)rd$/
press coverage
show this card 2. a demonstration or exhi-

bition of a proposed plan 쑗 The distribu- noun reports about something in newspa-
tion company gave a presentation of the pers, and magazines and other media 쑗
services they could offer. 쑗 We have asked The company had good press coverage
two PR firms to make presentations of for the launch of its new model.
press cutting /pres ktŋ/ noun a
press cutting
proposed publicity campaigns.

presenteeism /prez(ə)ntiz(ə)m/
presenteeism
|
piece cut out of a newspaper or magazine
noun the practice of spending more hours which refers to an item which you find in-
at work or in the workplace than is teresting 쑗 We have kept a file of press
healthy, necessary or productive, e.g. cuttings about the new car.
press cutting agency /pres ktŋ
press cutting agency
when an employee comes to work when

sick for fear of losing their job or letting ed$ənsi/ noun a company which cuts
the company down out references to clients from newspapers
present value /prez(ə)nt vlju/
present value
and magazines and sends them on to them
pressing / presŋ/ adjective urgent 왍
pressing
noun 1. the value something has now 쑗 In

1984 the pound was worth five times its pressing engagements meetings which
present value. 2. the value now of a spec- have to be attended 왍 pressing bills bills
ified sum of money to be received in the which have to be paid
press office /pres ɒfs/ noun an of-
press office
future, if invested at current interest rates.

Abbreviation PV 3. a price which a share fice in a company which deals with rela-
must reach in the future to be the equiva- tions with the press, sends out press re-
lent of today’s price, taking inflation into leases, organizes press conferences, etc.
account press officer /pres ɒfsə/ noun a
press officer
COMMENT: The present value of a future person who works in a press office
sum of money is found by discounting
press release /pres rlis/ noun a
press release
that future sum, and can be used to de- |
cide how much money to invest now at sheet giving news about something which
current interest rates in order to receive is sent to newspapers and TV and radio
the sum you want to have in a given stations so that they can use the informa-
number of years’ time. tion 쑗 The company sent out a press re-
preside / przad/ verb to be chairman
preside
| lease about the launch of the new car.

쑗 The MD will preside over the meeting. pressure /preʃə/ noun something
pressure
쑗 The meeting was held in the committee which forces you to do something 왍 he
room, Mr Smith presiding. was under considerable financial pres-
president /prezd(ə)nt/ noun the head
president
sure he was forced to act because he

of a company, society or club 쑗 She was owed money 왍 to put pressure on some-
elected president of the sports club. 쑗 Af- one to do something to try to force some-
ter many years on the board, A.B. Smith one to do something 쑗 The group tried to
pressure group 312

put pressure on the government to act. 쑗 /prventv/ adjective
preventive
preventive |
The banks put pressure on the company to which tries to stop something happening
reduce its borrowings. 왍 to take preventive measures against
pressure group /preʃə !rup/ noun
pressure group
theft to try to stop things from being sto-

a group of people who try to influence the len
government, the local town council or previous /priviəs/ adjective happen-
previous
some other organisation ing earlier or which existed before 쑗 List

prestige /presti$/ noun importance
prestige
|
all previous positions with the salaries
because of factors such as high quality or earned. 왍 he could not accept the invita-
high value 왍 prestige product an expen- tion because he had a previous engage-
sive luxury product 왍 prestige offices ex- ment because he had earlier accepted an-
pensive offices in a good area of the town other invitation to go somewhere
prestige advertising /presti$
prestige advertising
previously /priviəsli/ adverb hap-

previously
|
dvətazŋ/ noun advertising in high- pening earlier 쑗 Previously our distribu-

quality magazines to increase a compa- tion was handled by Smith Ltd. 쑗 His CV
ny’s reputation stated that he had previously been a
presume /przjum/ verb to suppose
presume
| salesman with Jones & Co.

something is correct 쑗 I presume the ac- price /pras/ noun money which has to
price
count has been paid. 쑗 The company is

be paid to buy something 왍 to sell goods
presumed to be still solvent. 쑗 We pre-
sume the shipment has been stolen. off at half price to sell goods at half the
price at which they were being sold be-
presumption /przmpʃən/ noun
presumption
|
fore 왍 cars in the £18–19,000 price
something which is assumed to be correct range cars of different makes, selling for
pretax /pritks/, pre-tax adjective between £18,000 and £19,000 왍 price ex
pretax
before tax has been deducted or paid warehouse the price for a product which
‘…the company’s goals are a growth in is to be collected from the manufacturer’s
sales of up to 40 per cent, a rise in pre-tax or agent’s warehouse and so does not in-
earnings of nearly 35 per cent and a rise in clude delivery 왍 to increase in price to
after-tax earnings of more than 25 per become more expensive 쑗 Petrol has in-
cent’ [Citizen (Ottawa)] creased in price or the price of petrol has
‘EC regulations which came into effect in increased. 왍 to increase prices, to raise
July insist that customers can buy cars an- prices to make items more expensive 왍
ywhere in the EC at the local pre-tax price’ we will try to meet your price we will
[Financial Times] try to offer a price which is acceptable to
pretax profit /pritks prɒft/ noun you 왍 to cut prices to reduce prices sud-
pretax profit
the amount of profit a company makes be- denly 왍 to lower prices, to reduce prices
fore taxes are deducted 쑗 The dividend to make items cheaper 쐽 verb to give a
paid is equivalent to one quarter of the price to a product 쑗 We have two used
pretax profit. Also called profit before cars for sale, both priced at £5,000. 왍 the
tax, profit on ordinary activities be- company has priced itself out of the
fore tax market the company has raised its prices
pretend /prtend/ verb to act like so high that its products do not sell
pretend
someone else in order to trick, to act as if ‘…the average price per kilogram for this
something is true when it really is not 쑗 season has been 300c’ [Australian
He got in by pretending to be a telephone Financial Review]
engineer. 쑗 The chairman pretended he ‘European manufacturers rely heavily on
knew the final profit. 쑗 She pretended she imported raw materials which are mostly
had flu and asked to have the day off. priced in dollars’ [Duns Business Month]
prevent /prvent/ verb to stop some-
prevent
| ‘…after years of relying on low wages for

thing happening 쑗 We must try to prevent their competitive edge, Spanish compa-
the takeover bid. 쑗 The police prevented nies are finding that rising costs and the
anyone from leaving the building. 쑗 We strength of the peseta are pricing them out
have changed the locks on the doors to of the market’ [Wall Street Journal]
prevent the former MD from getting into ‘…that British goods will price them-
the building. selves back into world markets is doubtful
313 prime cost

as long as sterling labour costs continue to tween producers or distributors on a min-
rise’ [Sunday Times] imum price for a product
price ceiling /pras silŋ/ noun the price range /pras rend$/ noun a se-
price ceiling price range
highest price which can be reached ries of prices for similar products from
price controls /pras kəntrəυlz/
price controls
|
different suppliers
prices and incomes policy /prasz
prices and incomes policy
plural noun legal measures to prevent

prices rising too fast ən nkmz/ noun a government policy
price cutting /pras ktŋ/ noun a
price cutting
which tries to control both price rises and
sudden lowering of prices incomes
price-sensitive /pras sensətv/ ad-
price-sensitive
‘…in today’s circumstances, price-cutting

is inevitable in an attempt to build up mar- jective referring to a product for which
ket share’ [Marketing Week] demand will change significantly if its
price is increased or decreased
price-cutting war /pras ktŋ wɔ/
price-cutting war
price tag /pras t!/ noun a label at-

price tag
noun same as price war

tached to an item being sold that shows its
price deflation /pras difleʃ(ə)n/
price deflation
|
price
noun a gradual fall in prices because of
price war /pras wɔ/ noun a competi-
price war
increased competition. Compare disin- tion between companies to get a larger

flation
market share by cutting prices. Also
price differential /pras dfərenʃəl/
price differential
|
called price-cutting war
noun the difference in price between pricing /prasŋ/ noun the act of giving
pricing
products in a range a price to a product

price/earnings ratio /pras &nŋz
price/earnings ratio
pricing policy /prasŋ pɒlisi/ noun

pricing policy
reʃiəυ/ noun a ratio between the current a company’s policy in giving prices to its
market price of a share and the earnings products 쑗 Our pricing policy aims at
per share (the current dividend it produc- producing a 35% gross margin.
es), calculated by dividing the market primarily /pram(ə)rli/ adverb mainly
primarily
price by the earnings per share 쑗 these 쑗 The company trades primarily in the
shares sell at a P/E ratio of 7 Also called South American market.
P/E ratio. Abbreviation PER (NOTE: The
primary /praməri/ adjective 1. basic
primary
US term is price/earnings multiple.) 왍

2. first, most important
these shares sell at a P or E ratio of 7
they sell at 7 times their earnings ‘…farmers are convinced that primary in-
COMMENT: The P/E ratio is an indication dustry no longer has the capacity to meet
of the way investors think a company will new capital taxes or charges on farm in-
perform in the future, as a high market puts’ [Australian Financial Review]
primary commodities /praməri kə
primary commodities
price suggests that investors expect |
earnings to grow and this gives a high mɒdtiz/ plural noun 1. farm produce
P/E figure; a low P/E figure implies that grown in large quantities, e.g. corn, rice
investors feel that earnings are not likely or cotton 2. raw materials or food
to rise.
primary industry /praməri
primary industry
price fixing /pras fksŋ/ noun an il-

price fixing
ndəstri/ noun an industry dealing with

legal agreement between companies to
basic raw materials such as coal, wood or
charge the same price for competing farm produce
products
primary products /praməri
primary products
/ pras n
price-insensitive
price-insensitive |
prɒdkts/ plural noun products which
sensətv/ adjective used to describe a are basic raw materials, e.g. wood, milk
good or service for which sales remain or fish
constant no matter what its price because
prime /pram / adjective 1. most impor-
prime
it is essential to buyers
tant 2. basic 쐽 noun same as prime rate
price label /pras leb(ə)l/ noun a la-
price label
prime bills /pram blz/ plural noun

prime bills
bel which shows a price bills of exchange which do not involve

price list /pras lst/ noun a sheet giv-
price list
any risk
ing prices of goods for sale prime cost /pram kɒst/ noun the
prime cost
/pras
price maintenance
price maintenance cost involved in producing a product, ex-

mentənəns/ noun an agreement be- cluding overheads
prime rate 314

prime rate /pram ret/ noun US the printer /prntə/ noun a machine which
prime rate printer
best rate of interest at which a bank lends prints

to its customers. Also called prime printer ribbon /prntə rbən/ noun
printer ribbon
prime sites /pram sats/ plural noun

prime sites
an inked ribbon in a cartridge which is put

the most valuable commercial sites, i.e. in into a line printer
main shopping streets, as opposed to sec-
prior /praə/ adjective earlier 왍 prior
prior
ondary sites
prime time /pram tam/ noun the
prime time
agreement an agreement which was
most expensive advertising time for TV reached earlier 왍 without prior knowl-
commercials 쑗 We are putting out a series edge without knowing before 왍 prior
of prime-time commercials. charge (capital) ranking before other cap-
ital in terms of distributions of profits and
priming /pramŋ/ noun 쏡 pump
priming
priming
repayment when a company goes into liq-
uidation
principal /prnsp(ə)l/ noun 1. a per-
principal
priority /praɒrti/ noun 왍 to have pri-

priority
son or company that is represented by an |
agent 쑗 The agent has come to London to ority to have the right to be first 왍 to have
see his principals. 2. a person acting for priority over or to take priority over
him or herself, such as a marketmaker something to be more important than
buying securities on his or her own ac- something 쑗 Reducing overheads takes
count 3. money invested or borrowed on priority over increasing turnover. 쑗 De-
which interest is paid 쑗 to repay principal benture holders have priority over ordi-
and interest 쑗 We try to repay part of nary shareholders. 왍 to give something
principal each month. (NOTE: Do not con- top priority to make something the most
fuse with principle.) 쐽 adjective most important item
important 쑗 The principal shareholders private /pravət/ adjective 1. belong-
private
asked for a meeting. 쑗 The country’s ing to a single person or to individual peo-
principal products are paper and wood. 쑗 ple, not to a company or the state 왍 a let-
The company’s principal asset is its deter marked ‘private and confidential’ a
sign staff. letter which must not be opened by any-
‘…the company was set up with funds to- one other than the person it is addressed
talling NorKr 145m with the principal aim to 2. 왍 in private away from other people
of making capital gains on the secondhand 쑗 He asked to see the managing director
market’ [Lloyd’s List] in private. 쑗 In public he said the compa-
principle /prnsp(ə)l/ noun a basic
principle
ny would break even soon, but in private

point or general rule 왍 in principle in he was less optimistic. 쑗 In public the un-
agreement with a general rule 왍 agree- ion said it would never go back to the ne-
ment in principle agreement with the ba- gotiating table, but in private they were
sic conditions of a proposal already having discussions with the com-
print /prnt/ noun words made (on pa-
print
pany representatives.
per) with a machine 왍 to read the small ‘…in the private sector the total number of
print, the fine print on a contract to new house starts was 3 per cent higher
read the conditions of a contract which than in the corresponding period last year,
are often printed very small so that people while public sector starts were 23 per cent
will not be able to read them easily 쐽 verb lower’ [Financial Times]
1. to make letters on paper with a machine ‘…management had offered to take the
쑗 The health warning is printed on the
company private through a leveraged buy-
front of the packet. 쑗 We use a standard out for $825 million’ [Fortune]
printed agreement for hire-purchase
private client /pravət klaənt/ noun
private client
sales. 2. to write in capital letters 쑗

Please print your name and address on a client dealt with by a salesman as a per-
the top of the form. son, not as a company
/pravət
private enterprise
print out phrasal verb to print informa- private enterprise

tion from a computer through a printer entəpraz/ noun businesses which are
printed matter /prntd mtə/ noun owned privately, not nationalised 쑗 The
printed matter
printed items, e.g. books, newspapers and project is completely funded by private
publicity sheets enterprise.
315 problem-solving
private income /pravət nkm/ a rescue package is not organised before
private income
noun income from dividends, interest or the end of the month.

rent which is not part of a salary probably /prɒbəbli/ adverb likely 쑗
probably
private letter /pravət letə/ noun a The MD is probably going to retire next
private letter
letter which deals with personal matters. year. 쑗 This shop is probably the best in
Same as personal letter town for service.
private limited company /pravət probate /prəυbet/ noun legal accept-
probate
private limited company
lmtd kmp(ə)ni/ noun 1. a company ance that a document, especially a will, is

with a small number of shareholders, valid 왍 the executor was granted pro-
whose shares are not traded on the Stock bate or obtained a grant of probate the
Exchange 2. a subsidiary company whose executor was told officially that the will
shares are not listed on the Stock Ex- was valid
Probate Registry /prəυbet
Probate Registry
change, while those of its parent company |
are 왘 abbreviation Pty Ltd red$stri/ noun a court which examines

privately /pravətli/ adverb away wills to see if they are valid
privately
probation /prəbeʃ(ə)n/ noun a period

probation
from other people 쑗 The deal was negoti- |
ated privately. when a new employee is being tested be-

private means /pravət minz/ plu-
private means
fore getting a permanent job 쑗 He is on
ral noun income from dividends, interest three months’ probation. 쑗 We will take
or rent which is not part of someone’s sal- her on probation. 쑗 The accountant was
ary appointed on three months’ probation at
private ownership
private ownership
/pravət the end of which he was not found to be

əυnəʃp/ noun a situation where a com- satisfactory.
probationary /prəbeʃ(ə)n(ə)ri/ ad-
probationary
pany is owned by private shareholders |
jective while someone is being tested 쑗

private property /pravət prɒpəti/
private property
noun property which belongs to a private

We will take her for a probationary period
person, not to the public of three months. 쑗 After the probationary
period the company decided to offer him
private sector /pravət sektə/ noun
private sector
a full-time contract.
all companies which are owned by private problem /prɒbləm/ noun something to
problem
shareholders, not by the state 쑗 The ex- which it is difficult to find an answer 쑗
pansion is completely funded by the pri- The company suffers from staff problems.
vate sector. 쑗 Salaries in the private sec- 왍 to solve a problem to find an answer to
tor have increased faster than in the pub- a problem 쑗 Problem solving is a test of a
lic sector. good manager. 쑗 Problem solving is the
‘…in the private sector the total number of test of a good manager.
new house starts was 3 per cent higher
than in the corresponding period last year, ‘…everyone blames the strong dollar for
while public sector starts were 23 per cent US trade problems, but they differ on what
lower’ [Financial Times] should be done’ [Duns Business Month]
problem area /prɒbləm eəriə/ noun
problem area
privatisation /pravətazeʃ(ə)n/,
privatisation
an area of a company’s work which is dif-

|
privatization noun the process of selling

ficult to run 쑗 Overseas sales is one of
a nationalised industry to private owners
our biggest problem areas.
‘…even without privatization, water
problem-solving /prɒbləm sɒlvŋ/
problem-solving
charges would probably have to rise to pay

for meeting EC water-quality rules’ noun the task of dealing with problems
[Economist] that occur within an organisation and the
privatise /pravətaz/, privatize verb
privatise methods that managers use to solve them
to sell a nationalised industry to private (NOTE: The most widely used method of
problem-solving proceeds through the
owners
following stages: recognising that a
pro /prəυ/ preposition for
pro
problem exists and defining it; generat-

PRO abbr public relations officer
PRO
ing a range of solutions; evaluating the

probable /prɒbəb(ə)l/ adjective likely
probable
possible solutions and choosing the

to happen 쑗 They are trying to prevent the best one; implementing the solution and
probable collapse of the company. 쑗 It is evaluating its effectiveness in solving
probable that the company will collapse if the problem.)
procedure 316
procedure / prəsid$ə/ noun a way in cultural produce 쑗 farm produce 쐽 verb
procedure
which something is done 쑗 The inquiry /prədjus/ 1. to bring something out and
|
found that the company had not followed show it 쑗 He produced documents to
the approved procedures. 왍 this proce- prove his claim. 쑗 The negotiators pro-
dure is very irregular this is not the duced a new set of figures. 쑗 The customs
proper way to do something 왍 account- officer asked him to produce the relevant
ing procedures set ways of doing the ac- documents. 2. to make or manufacture
counts of a company something 쑗 The factory produces cars or
‘…this was a serious breach of discipli- engines. 왍 to mass produce to make
nary procedure and the dismissal was un- large quantities of a product 3. to give an
fair’ [Personnel Management] interest 쑗 investments which produce
proceed /prəsid/ verb to go on, to about 10% per annum
proceed
continue 쑗 The negotiations are proceed- producer / prədjusə/ noun a person,

producer
ing slowly. 왍 to proceed against some- company or country that manufactures 쑗

one to start a legal action against someone a country which is a producer of high-
왍 to proceed with something to go on quality watches 쑗 The company is a ma-
doing something 쑗 Shall we proceed with jor car producer. Also called supplier
the committee meeting? producer prices /prədjusə
producer prices
proceedings /prəsidŋz/ plural noun prasz/ noun prices of goods when they
proceedings
왍 to institute proceedings against some- leave the manufacturer

one to start a legal action against someone producing /prədjusŋ/ adjective
producing
proceeds /prəυsidz/ plural noun

proceeds
which produces
money received from selling something 왍 producing capacity /prədjusŋ kə
producing capacity
| |
the proceeds of a sale money received psəti/ noun the capacity to produce
from a sale after deducting expenses 쑗 He product /prɒdkt/ noun 1. something
product
sold his shop and invested the proceeds in which is made or manufactured 2. a man-
a computer repair business. ufactured item for sale
process /prəυses/ noun 1. 왍 decision-
process
product advertising /prɒdkt

product advertising
|
making processes ways in which deci- dvətazŋ/ noun the advertising of a

sions are reached 2. 왍 the due processes particular named product, not the compa-
of the law the formal work of a legal ac- ny which makes it
tion 쐽 verb 1. 왍 to process figures to sort
product analysis /prɒdkt ə
product analysis
out information to make it easily under- |
stood 쑗 The sales figures are being proc- nləss/ noun an examination of each
essed by our accounts department. 쑗 The separate product in a company’s range to
data is being processed by our computer. find out why it sells, who buys it, etc.
product churning /prɒdkt
product churning
2. to deal with something in the usual rou-

tine way 쑗 It usually takes at least two tʃ&nŋ/ noun the practice of putting
weeks to process an insurance claim. 쑗 many new products onto the market in the
Orders are processed in our warehouse. hope that one of them will become suc-
processing /prəυsesŋ/ noun 1. the
processing
cessful (NOTE: Product churning is espe-
act of sorting information 쑗 the process- cially prevalent in Japan.)
product design /prɒdkt dzan/
product design
ing of information or of statistics by a |
computer 2. 왍 the processing of a claim noun the design of consumer products

product development /prɒdkt d
product development
for insurance putting a claim for insur- |
ance through the usual office routine in veləpmənt/ noun the process of improv-
the insurance company ing an existing product line to meet the
procurement / prəkjυəmənt/ noun needs of the market
procurement
product diversification /prɒdkt

product diversification
the act of buying equipment or raw mate-

rials for a company 쑗 Procurement of raw dav&sfkeʃ(ə)n/ noun adding new
|
materials is becoming very complicated types of products to the range already

with the entry of so many new suppliers made
into the market. product endorsement /prɒdkt n
product endorsement
produce noun /prɒdjus/ products dɔsmənt/, endorsement advertising

produce
from farms and gardens, especially fruit /ndɔsmənt dvətazŋ/ noun adver-
|
and vegetables 쑗 home produce 쑗 agri- tising which makes use of famous or qual-
317 professional
ified people to endorse a product 쑗 Which productively /prədktvli/ adverb in
productively
celebrities have agreed to contribute to a productive way

our endorsement advertising? 쑗 Product productivity /prɒdktvti/ noun the
productivity
endorsement will, we hope, help our fund- rate of output per employee or per ma-
raising campaign. chine in a factory 쑗 Bonus payments are
product engineer /prɒdkt end$ linked to productivity. 쑗 The company is
product engineer
nə/ noun an engineer in charge of the aiming to increase productivity. 쑗 Pro-

equipment for making a product ductivity has fallen or risen since the com-
production /prədkʃən/ noun 1. the
production
|
pany was taken over.
act of showing something 왍 on produc- ‘…though there has been productivity
tion of when something is shown 쑗 The growth, the absolute productivity gap be-
case will be released by customs on pro- tween many British firms and their foreign
duction of the relevant documents. 쑗 rivals remains’ [Sunday Times]
productivity agreement /prɒdk
productivity agreement
Goods can be exchanged only on produc- |
tion of the sales slip. 2. the work of mak- tvti ə!rimənt/ noun an agreement to
|
ing or manufacturing of goods for sale 쑗 pay a productivity bonus

productivity bonus /prɒdktvti
productivity bonus
We are hoping to speed up production by |
installing new machinery. 쑗 Higher pro- bəυnəs/ noun an extra payment made to
duction is rewarded with higher pay. employees because of increased produc-
production cost /prədkʃən kɒst/
production cost
tion per employee
productivity drive /prɒdktvti
|
productivity drive
noun the cost of making a product |
production department
production department /prə drav/ noun an extra effort to increase

productivity
|
dkʃən dpɑtmənt/ noun the section

product line /prɒdkt lan/ noun a
| product line
of a company which deals with the mak-

ing of the company’s products series of different products which form a
group, all made by the same company 쑗
production line /prədkʃən lan/
production line
|
We do not stock that line. 쑗 Computers
noun a system of making a product, are not one of our best-selling lines. 쑗
where each item such as a car moves They produce an interesting line in gar-
slowly through the factory with new sec- den tools.
tions added to it as it goes along 쑗 He
product management /prɒdkt
product management
works on the production line. 쑗 She is a

production-line employee. mnd$mənt/ noun the process of di-
recting the making and selling of a prod-
production manager /prədkʃən
production manager
|
uct as an independent item
mnd$ə/ noun the person in charge of product mix /prɒdkt mks/ noun a
product mix
the production department range of different products which a com-

production rate /prədkʃ(ə)n ret/
production rate
|
pany has for sale
noun same as rate of production profession /prəfeʃ(ə)n/ noun 1. an
profession
production standards /prədkʃən

production standards
|
occupation for which official qualifica-
stndədz/ plural noun the quality levels tions are needed and which is often made
relating of production a lifelong career 쑗 The managing director
target /prədkʃən is an accountant by profession. 쑗 HR
production target
production |
tɑ!t/ noun the amount of units a facto- management is now more widely recog-
ry is expected to produce nised as a profession. 2. a group of spe-
production unit /prədkʃən junt/
production unit
|
cialised workers 쑗 the accounting profes-
noun a separate small group of employ- sion 쑗 the legal profession
ees producing a product ‘…one of the key advantages of an ac-
countancy qualification is its worldwide
productive /prədktv/ adjective pro-
productive
|
marketability. Other professions are not
ducing something, especially something so lucky: lawyers, for example, are
useful 왍 productive discussions useful much more limited in where they can
discussions which lead to an agreement or work’ [Accountancy]
decision professional /prəfeʃ(ə)n(ə)l/ adjec-
professional
productive capital /prədktv

productive capital
| tive 1. referring to one of the professions

kpt(ə)l/ noun capital which is invest- 쑗 The accountant sent in his bill for pro-
ed to give interest fessional services. 쑗 We had to ask our
professional qualification 318

lawyer for professional advice on the con- move into profit within the next two
tract. 쑗 The professional institute awards months. 왍 to sell at a profit to sell at a
diplomas. 왍 professional man, profes- price which gives you a profit 왍 healthy
sional woman a man or woman who profit quite a large profit
works in one of the professions such as a ‘…because capital gains are not taxed and
lawyer, doctor or accountant 2. expert or money taken out in profits and dividends
skilled 쑗 Her work is very professional. 쑗 is taxed, owners of businesses will be us-
They did a very professional job in de- ing accountants and tax experts to find
signing the new office. 3. doing work for loopholes in the law’ [Toronto Star]
money 쑗 a professional tennis player 왍 ‘…the bank transferred $5 million to gen-
he is a professional troubleshooter he eral reserve compared with $10 million the
makes his living by helping companies to previous year which made the consolidat-
sort out their problems 쐽 noun a skilled ed profit and loss account look healthier’
person or a person who does skilled work [Hongkong Standard]
for money profitability /prɒftəblti/ noun 1.
profitability
professional qualification /prə the ability to make a profit 쑗 We doubt the

professional qualification
feʃ(ə)n(ə)l kwɒlfkeʃ(ə)n/ noun a

| profitability of the project. 2. the amount
document which shows that someone has of profit made as a percentage of costs
successfully finished a course of study profitable /prɒftəb(ə)l/ adjective
profitable
which allows him or her to work in one of making a profit 쑗 She runs a very profita-
the professions ble employment agency.
proficiency /prəfʃ(ə)nsi/ noun a skill
proficiency
profitably /prɒftəbli/ adverb making

profitably
|
in doing something at more than a basic a profit 쑗 The aim of every company must
level 쑗 Her proficiency in languages be to trade profitably.
should help in the export department. 쑗
profit after tax /prɒft ɑftə tks/
profit after tax
To get the job he had to pass a proficiency

test. noun same as net profit
profit and loss account /prɒft ən
profit and loss account
proficient /prəfʃ(ə)nt/ adjective ca-

proficient
lɒs əkaυnt/ noun the accounts for a

|
pable of doing something well 쑗 She is |
quite proficient in Spanish. 쑗 She is quite company showing expenditure and in-
proficient in accountancy. come over a period of time, usually one
profile /prəυfal/ noun a brief descrip-
profile
calendar year, balanced to show a final
tion of the characteristics of something or profit or loss. Also called P&L account
(NOTE: The US term is profit and loss
someone 쑗 They asked for a profile of the
statement or income statement.)
possible partners in the joint venture. 쑗
profit before tax /prɒft bfɔ tks/
profit before tax
Her CV provided a profile of her educa-

tion and career to date. noun same as pretax profit
profit centre /prɒft sentə/ noun a
profit centre
‘…the audience profile does vary greatly

by period: 41.6% of the adult audience is person, unit or department within an or-
aged 16 to 34 during the morning period, ganisation which is considered separately
but this figure drops to 24% during peak for the purposes of calculating a profit 쑗
viewing time’ [Marketing Week] We count the kitchen equipment division
profit / prɒft/ noun money gained from
profit
as a single profit centre.

a sale which is more than the money spent profiteer /prɒftə/ noun a person
profiteer
on making the item sold or on providing who makes too much profit, especially
the service offered 왍 to take your profit when goods are rationed or in short sup-
to sell shares at a higher price than was ply
paid for them, and so realise the profit,
profiteering /prɒftərŋ/ noun the
profiteering
rather than to keep them as an investment |
왍 to show a profit to make a profit and practice of making too much profit
profit-making /prɒft mekŋ/ ad-
profit-making
state it in the company accounts 쑗 We are

showing a small profit for the first quar- jective making a profit 쑗 The whole
ter. 왍 to make a profit to have more mon- project was expected to be profit-making
ey as a result of a deal 왍 to move into by 2001 but it still hasn’t broken even. 쑗
profit to start to make a profit 쑗 The com- It is hoped to make it into a profit-making
pany is breaking even now, and expects to concern.
319 project
profit margin /prɒft mɑd$n/ noun programme. 쑗 The training programme
profit margin
the percentage difference between sales sends all managers for retraining every
income and the cost of sales year. 쑗 We are initiating a new recruit-
profit motive /prɒft məυtv/ noun
profit motive
ment programme. (NOTE: The US spell-
an idea that profit is the most import aim ing is program.)
programme evaluation and re-
programme evaluation and review technique
of a business
profit on ordinary activities be-
profit on ordinary activities before tax
view technique /prəυ!rm vlju |
fore tax /prɒft ɒn ɔd(ə)n(ə)ri k |

eʃ(ə)n ən rvju teknik/ noun a way | |
tvtiz bfɔ tks/ noun same as pre-

|
of planning and controlling a large
tax profit project, concentrating on scheduling and
profit-oriented company /prɒft
profit-oriented company
completion on time. Abbreviation PERT
programming engineer
programming engineer
ɔrientd/ noun company which does

/prəυ!rmŋ end$nə/ noun an engi-
|
everything to make a profit

profit squeeze /prɒft skwiz/ noun
profit squeeze
neer in charge of programming a compu-
a strict control of the amount of profits ter system
programming language
programming language
which companies can pay out as dividend

/prəυ!rmŋ lŋ!wd$ / noun a sys-
profits tax /prɒfts tks/ noun a tax
profits tax
to be paid on profits tem of signs, letters and words used to in-

struct a computer
profit-taking /prɒft tekŋ/ noun
profit-taking
progress noun /prəυ!res/ the move-

progress
the act of selling investments to realise the

profit, rather than keeping them 쑗 Share ment of work towards completion 쑗 to re-
prices fell under continued profit-taking. port on the progress of the work or of the
negotiations 왍 to make a progress re-
‘…some profit-taking was seen yesterday port to report how work is going 왍 in
as investors continued to lack fresh incen- progress which is being done but is not
tives to renew buying activity’ [Financial
Times] finished 쑗 negotiations in progress 쑗
work in progress 쐽 verb /prəυ!res/ to
pro forma /prəυ fɔmə/ adverb ‘for
pro forma |
move forward, to go ahead 쑗 The contract

the sake of form’ 쐽 verb to issue a pro for- is progressing through various depart-
ma invoice 쑗 Can you pro forma this or- ments.
der? 쐽 adjective referring to an early ver-
progress chaser /prəυ!res tʃesə/
progress chaser
sion of a document that is issued before

all the relevant data are available and is noun a person whose job is to check that
usually followed by a final version work is being carried out on schedule,
that orders are being fulfilled on time, etc.
pro forma invoice /prəυ fɔmə
pro forma invoice
progressive /prə!resv/ adjective

progressive
nvɔs/, pro forma / prəυ fɔmə/ noun |
an invoice sent to a buyer before the moving forward in stages

progressive taxation /prə!resv
progressive taxation
goods are sent, so that payment can be |
made or so that goods can be sent to a tkseʃ(ə)n/ noun a taxation system

|
consignee who is not the buyer 쑗 They where tax levels increase as the income is
sent us a pro forma invoice. 쑗 We only higher. Also called graduated taxation.
supply that account on pro forma. Compare regressive taxation
program /prəυ!rm/ noun 1. US progress payment /prəυ!res
progress payment
program
same as programme 2. a set of instruc- pemənt/ noun a payment made as a

tions that tell a computer to carry out spe- particular stage of a contract is completed
cific tasks 쐽 verb to write a program for a 쑗 The fifth progress payment is due in
computer 왍 to program a computer to March.
install a program in a computer 쑗 The progress report /prəυ!res rpɔt/
progress report
computer is programmed to print labels. noun a document which describes what

programmable /prəυ!rməb(ə)l/ progress has been made
programmable
prohibitive /prəυhbtv/ adjective

prohibitive
adjective possible to programme |
programme /prəυ!rm/ noun a plan with a price so high that you cannot afford
programme
of things which will be done 쑗 to draw up to pay it 쑗 The cost of redesigning the
a programme of investment or an invest- product is prohibitive.
ment programme 쑗 She is running the de- project /prɒd$ekt/ noun 1. a plan 쑗
project
velopment programme or the research She has drawn up a project for developing
project analysis 320

new markets in Europe. 2. a particular job new product by a sales campaign, by TV
of work which follows a plan 쑗 We are commercials or free gifts, or by giving
just completing an engineering project in discounts 3. 왍 to promote a new compa-
North Africa. 쑗 The company will start ny to organise the setting up of a new
work on the project next month. company
project analysis /prɒd$ekt ə promotion /prəməυʃ(ə)n/ noun 1. the
project analysis
promotion
|
|
nləss/ noun the examination of all the fact of being moved up to a more impor-
costs or problems of a project before work tant job 쑗 I ruined my chances of promo-
on it is started tion when I argued with the managing di-
projected / prəd$ektd/ adjective rector. 쑗 The job offers good promotion
projected
planned or expected 왍 projected sales a chances or promotion prospects. 왍 to

forecast of sales 쑗 Projected sales in Eu- earn promotion to work hard and effi-
rope next year should be over £1m. ciently and so be promoted 2. all means of
project engineer /prɒd$ekt end$ conveying the message about a product or
project engineer
nə/ noun an engineer in charge of a service to potential customers, e.g. pub-

project licity, a sales campaign, TV commercials
projection /prəd$ekʃən/ noun a fore-
projection
|
or free gifts 쑗 Our promotion budget has
cast of something which will happen in been doubled. 쑗 The promotion team has
the future 쑗 Projection of profits for the put forward plans for the launch. 쑗 We
next three years. 쑗 The sales manager are offering free holidays in France as
was asked to draw up sales projections part of our special in-store promotion. 쑗
for the next three years. We a running a special promotion offer-
ing two for the price of one. 왍 promotion
project management /prɒd$ekt
project management
of a product selling a new product by

mnd$mənt/ noun the coordination of publicity, by a sales campaign, TV com-
the financial, material and human re- mercials, free gifts, or by giving special
sources needed to complete a project and
discounts 쑗 The promotion budget has
the organisation of the work that the been increased to £500,000. 쑗 He is lead-
project involves ing the promotion team in charge of the
project manager /prɒd$ekt
project manager
launch. 쑗 We a running a special promo-

mnd$ə/ noun the manager in charge tion offering two for the price of one. 3. 왍
of a project promotion of a company the setting up
promise /prɒms/ noun an act of say-
promise
of a new company
ing that you will do something 왍 to keep ‘…finding the right promotion to appeal to
a promise to do what you said you would children is no easy task’ [Marketing]
do 쑗 He says he will pay next week, but he ‘…you have to study the profiles and
never keeps his promises. 왍 to go back on people involved very carefully and tailor
a promise not to do what you said you the promotion to fill those needs’ [Mar-
would do 쑗 The management went back keting Week]
on its promise to increase salaries across
promotional /prəməυʃ(ə)n(ə)l/ ad-
promotional
the board. 왍 a promise to pay a promis- |
sory note 쐽 verb to say that you will do jective used in an advertising campaign 쑗
something 쑗 They promised to pay the The admen are using balloons as promo-
last instalment next week. 쑗 The person- tional material.
nel manager promised he would look into ‘…the simplest way to boost sales at the
the grievances of the office staff. expense of regional newspapers is by a
heavyweight promotional campaign’
promissory note /prɒmsəri nəυt/
promissory note
[Marketing Week]
noun a document stating that someone
/prə
promotional budget
promises to pay an amount of money on a promotional budget |
specific date məυʃ(ə)n(ə)l bd$t/ noun a forecast

promote /prəməυt/ verb 1. to give
promote
|
of the cost of promoting a new product
promotion ladder /prəməυʃ(ə)n
promotion ladder
someone a more important job or to move |
someone to a higher grade 쑗 He was pro- ldə/ noun a series of steps by which
moted from salesman to sales manager. 2. employees can be promoted 쑗 By being
to advertise a product 왍 to promote a appointed sales manager, she moved sev-
new product to increase the sales of a eral steps up the promotion ladder.
321 prosecute
prompt /prɒmpt/ adjective rapid or proposal /prəpəυz(ə)l/ noun 1. a sug-
prompt proposal
done immediately 쑗 We got very prompt gestion, thing which has been suggested
service at the complaints desk. 쑗 Thank 쑗 to make a proposal or to put forward a
you for your prompt reply to my letter. 왍 proposal to the board 왍 the committee
prompt payment payment made rapidly turned down the proposal the commit-
왍 prompt supplier a supplier who deliv- tee refused to accept what was suggested
ers orders rapidly 2. an official document with details of a
‘…they keep shipping costs low and can property or person to be insured which is
take advantage of quantity discounts and sent to the insurance company when ask-
other allowances for prompt payment’ ing for an insurance
[Duns Business Month] propose /prəpəυz/ verb 1. to suggest
propose
promptly /prɒmptli/ adverb rapidly 쑗 that something should be done 왍 to pro-

promptly
He replied to my letter very promptly. pose a motion to ask a meeting to vote for
proof /pruf/ noun evidence which a motion and explain the reasons for this
proof
shows that something is true 왍 to propose someone as president to

-proof /pruf/ suffix preventing some-
-proof
ask a group to vote for someone to be-
come president 2. 왍 to propose to to say
thing getting in or getting out or harming that you intend to do something 쑗 I pro-
something 쑗 a dustproof cover 쑗 an infla- pose to repay the loan at £20 a month.
tion-proof pension 쑗 a soundproof studio
proposer /prəpəυzə/ noun a person
proposer
prop /prɒp/ noun same as proprietor

prop
|
who proposes a motion at a meeting

property /prɒpəti/ noun 1. land and
property
proposition /prɒpəzʃ(ə)n/ noun a

proposition
buildings 쑗 Property taxes are higher in |
the inner city. 쑗 They are assessing dam- commercial deal which is suggested 왍 it
age to property or property damage after will never be a commercial proposition
the storm. 쑗 The commercial property it is not likely to make a profit
proprietary /prəpraət(ə)ri/ noun,
proprietary
market is booming. 2. a building 쑗 We |
have several properties for sale in the adjective a product, e.g. a medicine
centre of the town. 3. things which a per- which is made and owned by a company
son or organisation owns /prə
proprietary company
proprietary company |
/prɒpəti praət(ə)ri kmp(ə)ni/ noun US a

property company
property company
kmp(ə)ni/ noun a company which buys company formed to invest in stock of oth-
buildings to lease them er companies so as to control them. Ab-
property market /prɒpəti mɑkt/
property market
breviation pty (NOTE: The UK term is
noun 1. the market in letting commercial holding company.)
proprietary drug /prəpraət(ə)ri
proprietary drug
properties 2. the market in developing |
commercial properties as investments 3. dr!/ noun a drug which is made by a

the process of buying or selling residen- particular company and marketed under a
tial properties by individual homeowners brand name
proportion /prəpɔʃ(ə)n/ noun a part proprietor /prəpraətə/ noun the
proportion proprietor
| |
of a total 쑗 A proportion of the pre-tax owner of a business, especially in the hos-

profit is set aside for contingencies. 쑗 pitality industry 쑗 She is the proprietor of
Only a small proportion of our sales a hotel or a hotel proprietor. 쑗 The res-
comes from retail shops. 왍 in proportion taurant has a new proprietor.
to compared to something else, by an pro rata /prəυ rɑtə/ adjective, adverb
pro rata
amount related to something else 쑗 Prof- at a rate which varies according to the size
its went up in proportion to the fall in or importance of something 쑗 When part
overhead costs. 쑗 Sales in Europe are of the shipment was destroyed we re-
small in proportion to those in the USA. ceived a pro rata payment. 쑗 The full-
proportional /prəpɔʃ(ə)n(ə)l/ adjec-
proportional
| time pay is £500 a week and the part-tim-

tive directly related 쑗 The increase in ers are paid pro rata. 왍 dividends are
profit is proportional to the reduction in paid pro rata dividends are paid accord-
overheads. ing to the number of shares held
proportionately /prəpɔʃ(ə)nətli/ prosecute /prɒskjut/ verb to bring
proportionately prosecute
adverb in a way that is directly related someone to court to answer a criminal

prosecution 322
charge 쑗 He was prosecuted for embez- prosperous /prɒsp(ə)rəs/ adjective
prosperous
zlement. rich 쑗 a prosperous shopkeeper 쑗 a pros-

prosecution /prɒskjuʃ(ə)n/ noun perous town
prosecution
1. the act of bringing someone to court to protection /prətekʃən/ noun the im-
protection
answer a charge 쑗 his prosecution for em- posing of tariffs to protect domestic pro-
bezzlement 2. a party who brings a crimi- ducers from competition from imports
nal charge against someone 쑗 The costs of protectionism /prətekʃənz(ə)m/
protectionism
the case will be borne by the prosecution. |
noun the practice of protecting producers

/prɒs
prosecution counsel
prosecution counsel |
in the home country against foreign com-
kjuʃ(ə)n kaυnsəl/ noun a lawyer act- petitors by banning or taxing imports or
ing for the prosecution by imposing import quotas
prospect /prɒspekt/ noun 1. a chance
prospect
protective cover /prətektv kvə/

protective cover
or possibility that something will happen noun a cover which protects a machine
in the future 왍 her job prospects are
protective tariff / prətektv trf/
protective tariff
good she is very likely to find a job 왍 |
prospects for the market, market pros- noun a tariff which tries to ban imports to
pects are worse than those of last year stop them competing with local products
pro tem /prəυ tem/ adverb temporar-
pro tem
sales in the market are likely to be lower

than they were last year 2. the possibility ily, for a time
that something will happen 쑗 There is no protest noun /prəυtest/ 1. a statement
protest
prospect of negotiations coming to an end or action to show that you do not approve
soon. 3. a person who may become a cus- of something 쑗 to make a protest against
tomer 쑗 The sales force were looking out high prices 왍 in protest at showing that
for prospects. you do not approve of something 쑗 The
prospective /prəspektv/ adjective staff occupied the offices in protest at the
prospective
possibly happening in the future 왍 a pro- low pay offer. 왍 to do something under
spective buyer someone who may buy in protest to do something, but say that you
the future 쑗 There is no shortage of pro- do not approve of it 2. an official docu-
spective buyers for the computer. ment which proves that a bill of exchange
prospective dividend /prəspektv
prospective dividend
|
has not been paid 쐽 verb /prətest/ 1. 왍|
dvdend/ noun a dividend which a to protest against something to say that

company expects to pay at the end of the you do not approve of something 쑗 The
current year importers are protesting against the ban
on luxury goods. 2. 왍 to protest a bill to
prospects /prɒspekts/ plural noun
prospects
draw up a document to prove that a bill of

the possibilities for the future exchange has not been paid
prospectus /prəspektəs/ noun 1. a
prospectus
protest strike /prəυtest strak/ noun

protest strike
|
document which gives information to at- a strike in protest at a particular grievance

tract buyers or customers 쑗 The restau-
prototype /prəυtətap/ noun the first
prototype
rant has people handing out prospectuses

in the street. 2. a document which gives model of a new product before it goes into
information about a company whose production 쑗 a prototype car 쑗 a proto-
shares are being sold to the public for the type plane 쑗 The company is showing the
first time (NOTE: plural is prospectuses) prototype of the new model at the exhibi-
tion.
‘…when the prospectus emerges, existing
provide /prəvad/ verb 1. to give or
provide
shareholders and any prospective new |
investors can find out more by calling the supply something 2. 왍 to provide for to
free share information line; they will be allow for something which may happen in
sent a leaflet. Non-shareholders who reg- the future 쑗 The contract provides for an
ister in this way will receive a prospectus annual increase in charges. 쑗 £10,000 of
when it is published; existing shareholders expenses have been provided for in the
will be sent one automatically’ budget. 3. to put money aside in accounts
[Financial Times] to cover expenditure or loss in the future
prosperity / prɒsperti/ noun the state
prosperity
| 쑗 £25,000 is provided against bad debts.

of being rich 왍 in times of prosperity 왍 to provide someone with something to
when people are rich supply something to someone 쑗 Each rep
323 publication
is provided with a company car. 쑗 Staff provisionally /prəv$(ə)nəli/ adverb
provisionally
uniforms are provided by the hotel. not finally 쑗 The contract has been ac-
provided that /prəvadd ðt/, pro- cepted provisionally.
provided that
viding /prəvadŋ/ conjunction on con- proviso / prəvazəυ/ noun a condition

proviso
| |
dition that 쑗 the goods will be delivered 쑗 We are signing the contract with the
next week provided or providing the driv- proviso that the terms can be discussed
ers are not on strike again after six months. (NOTE: The plural
provident /prɒvd(ə)nt/ adjective
provident
is provisos or provisoes.)
proxy /prɒksi/ noun 1. a document
proxy
providing benefits in case of illness, old

age or other cases of need 쑗 a provident which gives someone the power to act on
fund 쑗 a provident society behalf of someone else 쑗 to sign by proxy
province / prɒvns/ noun a large divi-
province
2. a person who acts on behalf of some-
sion of a country 쑗 the provinces of Can- one else 쑗 She asked the chairman to act
ada as proxy for her.
proxy form /prɒksi fɔm/, proxy
proxy form
provinces /prɒvnsz/ noun parts of

provinces
any country away from the main capital card /prɒksi kɑd/ noun a form which a
town 쑗 There are fewer retail outlets in shareholders receive with their invitations
the provinces than in the capital. to attend an AGM, and which they fill in
if they want to appoint a proxy to vote for
provincial /prəvnʃ(ə)l/ adjective re-
provincial
|
them on a resolution
ferring to a province or to the provinces 쑗
proxy vote /prɒksi vəυt/ noun a vote
proxy vote
a provincial government 쑗 a provincial

branch of a national bank made by proxy 쑗 The proxy votes were all
in favour of the board’s recommendation.
/prə
provincial government
provincial government |
P’s
P’s 쏡 four P’s

vnʃ(ə)l !v(ə)nmənt/ noun an organ-
P.S. /pies/ short for additional note at
P.S.
isation dealing with the affairs of a prov- |
ince or of a state the end of a letter 쑗 Did you read the P.S.
at the end of the letter? Full form post
provision /prəv$(ə)n/ noun 1. 왍 to
provision
|
scriptum
make provision for to see that something PSBR
is allowed for in the future 왍 there is no PSBR abbr Public Sector Borrowing
provision for or no provision has been Requirement
pt
made for car parking in the plans for pt abbr pint

the office block the plans do not include ptas
ptas abbr pesetas

space for cars to park 2. a legal condition Pte
왍 we have made provision to this effect Pte abbr (in Singapore) private limited
we have put into the contract terms which company
Pty
will make this work 3. an amount of mon- Pty abbr proprietary company
ey put aside in accounts for anticipated public /pblk/ adjective 1. referring to
public
expenditure where the timing or amount all the people in general 2. referring to the
of expenditure is uncertain, often for government or the state 쐽 noun 왍 the
doubtful debts 쑗 The bank has made a public, the general public the people 왍
£2m provision for bad debts or a $5bn in public in front of everyone 쑗 In public
provision against Third World loans. he said that the company would soon be
‘…landlords can create short lets of dwell- in profit, but in private he was less opti-
ings which will be free from the normal se- mistic.
curity of tenure provisions’ [Times] publication /pblkeʃ(ə)n/ noun 1.
publication
provisional / prəv$(ə)n(ə)l/ adjective

provisional
| the act of making something public by

temporary, not final or permanent 쑗 She publishing it 쑗 the publication of the lat-
was given a provisional posting to see 쑗 est trade figures 2. a printed document
The sales department has been asked to which is to be sold or given to the public
make a provisional forecast of sales. 쑗 쑗 We asked the library for a list of gov-
The provisional budget has been drawn ernment publications. 왍 the company
up for each department. 쑗 They faxed has six business publications the compa-
their provisional acceptance of the con- ny publishes six magazines or newspa-
tract. pers referring to business
public company 324

/pblk /pblsti
public company publicity handout
public company publicity handout |
kmp(ə)ni/ noun same as public limit- hndaυt/ noun an information sheet

ed company which is given to members of the public
expenditure /pblk k /pblsti
public expenditure
public
publicity manager
| publicity manager |
spendtʃə/ noun money spent by the lo- mnd$ə/ noun the person in charge of
cal or central government a publicity department
public finance /pblk fanns/
public finance
publicity material /pblsti mə

publicity material
| |
noun the raising of money by govern- təriəl/ noun leaflets, adverts, etc., used
ments by taxes or borrowing, and the in publicity (NOTE: no plural in this
spending of it meaning)
public funds /pblk fndz/ plural
public funds
publicity matter /pblsti mtə/

publicity matter
noun government money available for ex- noun sheets, posters or leaflets used for
penditure publicity
public holiday /pblk hɒlde/
public holiday
/pblsti
publicity slogan
publicity slogan |
noun a day when all employees are enti- sləυ!ən/ noun a group of words which
tled to take a holiday can be easily remembered and which is
public image /pblk md$/ noun
public image
used in publicity for a product 쑗 We are

an idea which the people have of a com- using the slogan ‘Smiths can make it’ on
pany or a person 쑗 The minister is trying all our publicity.
to improve her public image. public limited company /pblk
public limited company
publicise /pblsaz/, publicize verb lmtd kmp(ə)ni/ noun a company

publicise
to attract people’s attention to a product whose shares can be bought on the Stock
for sale, a service or an entertainment 쑗 Exchange. Abbreviation Plc, PLC, plc.
The campaign is intended to publicise the Also called public company
services of the tourist board. 쑗 We are try-
public monopoly /pblk mə
public monopoly
ing to publicise our products by adver-

|
tisements on buses. nɒpəli/ noun a situation where an organ-

isation owned and run by the state (e.g.
publicity /pblsti/ noun the process
publicity
|
the Post Office) is the only supplier of a
of attracting the attention of the public to product or service
products or services by mentioning them
public opinion /pblk əpnjən/
public opinion
in the media |
noun what people think about something

/pblsti
publicity agency
publicity agency
public ownership /pblk əυnəʃp/
| public ownership
ed$ənsi/ noun an office which organiz-

es publicity for companies who do not noun a situation where the government
have publicity departments owns a business, i.e. where an industry is
nationalised
publicity budget /pblsti bd$t/
publicity budget
/pblk r
| public relations
noun money allowed for expenditure on public relations |
publicity leʃ(ə)nz/ plural noun the practice of

building up and keeping good relations
publicity campaign /pblsti km
publicity campaign
between an organisation and the public,

| |
pen/ noun a planned period when pub- or an organisation and its employees, so
licity takes place 쑗 They are working on a
that people know and think well of what
campaign to launch a new brand of soap. the organisation is doing 쑗 She works in
publicity copy /pblsti kɒpi/ noun
publicity copy
|
public relations. 쑗 A public relations firm
the text of a proposed advertisement be- handles all our publicity. 쑗 The compa-
fore it is printed 쑗 She writes publicity ny’s internal public relations were im-
copy for a travel firm. proved by setting up the house journal.
publicity department /pblsti d
publicity department
| | Abbreviation PR (NOTE: takes a singular

pɑtmənt/ noun the section of a compa- verb)
ny which organizes the company’s pub- public relations department
public relations department

licity /pblk rleʃ(ə)nz dpɑtmənt/ noun
| |
publicity expenditure /pblsti k

publicity expenditure
| | the section of a company which deals

spendtʃə/ noun money spent on public- with relations with the public. Abbrevia-
ity tion PR department
325 purchase tax

public relations exercise /pblk pump priming /pmp pramŋ/
public relations exercise pump priming
rleʃ(ə)nz eksəsaz/ noun a campaign

| noun government investment in new
to improve public relations projects which it hopes will benefit the
public relations officer /pblk r economy
public relations officer
leʃ(ə)nz ɒfsə/ noun a person in an or- punt /pnt/ noun 1. a former unit of cur-
punt
ganisation who is responsible for public rency in the Republic of Ireland 2. a gam-
relations activities. Abbreviation PRO ble, bet (informal) 쑗 That stock is worth a
public sector /pblk sektə/ noun
public sector
punt. 쑗 He took a punt on the exchange
nationalised industries and services 쑗 a rate falling. 쐽 verb to gamble or to bet (on
report on wage rises in the public sector something)
punter /pntə/ noun 1. a person who
punter
or on public-sector wage settlements Also

called government sector gambles or who hopes to make money on
Public Sector Borrowing Re-
Public Sector Borrowing Requirement
the Stock Exchange 쑗 The share price
quirement /pblk sektə bɒrəυŋ r |
shot up as punters rushed to buy. 2. a cus-
kwaəmənt/ noun the amount of money tomer (informal ) 쑗 The product looks at-
which a government has to borrow to pay tractive but will the punters like it?
for its own spending. Abbreviation PBSR ‘…if punters don’t come in for their regu-
lar packet of cigarettes, then they are un-
public transport /pblk
public transport
likely to make any impulse buys’

trnspɔt/ noun transport which is used [The Grocer]
by any member of the public, e.g. buses
pup / pp/ noun a worthless item
pup
and trains
(informal) 쑗 I’ve been sold a pup 쑗 That
public transport system /pblk
public transport system
street trader sold me a pup.

trnspɔt sstəm/ noun a system of
purchase /p&tʃs/ noun a product or
purchase
trains, buses, etc., used by the general

public service which has been bought 왍 to make
a purchase to buy something 쐽 verb to
public works /pblk w&ks/ noun
public works
buy something 왍 to purchase something

large construction schemes which benefit for cash to pay cash for something
the public in general (such as motorways,
purchase book /p&tʃs bυk/ noun a
purchase book
hospitals, etc.) book in which purchases are recorded

publish /pblʃ/ verb to have a docu-
publish
purchase ledger /p&tʃs led$ə/

purchase ledger
ment such as a catalogue, book, magazine noun a book in which expenditure is not-
or newspaper written and printed and then ed
sell or give it to the public 쑗 The society
purchase order /p&tʃs ɔdə/ noun
purchase order
publishes its list of members annually. 쑗

The government has not published the fig- an official order made out by a purchasing
ures on which its proposals are based. 쑗 department for goods which a company
The company publishes six magazines for wants to buy 쑗 We cannot supply you
the business market. without a purchase order number.
purchase price /p&tʃs pras/ noun
purchase price
publisher / pblʃə/ noun a person or

publisher
company which publishes books, maga- a price paid for something

purchaser /p&tʃsə/ noun a person or
purchaser
zines, etc.
pull off phrasal verb to succeed in ne- company that purchases 쑗 The company
gotiating a deal (informal ) has found a purchaser for its warehouse.
pull out phrasal verb to stop being part 왍 the company is looking for a purchas-
of a deal or agreement 쑗 Our Australian er the company is trying to find someone
partners pulled out of the contract. who will buy it
purchase requisition /p&tʃs
purchase requisition
pump /pmp/ verb to put something in

pump
by force 쑗 Venture capitalists have been rekwzʃ(ə)n/ noun an instruction from

|
pumping money into the company to keep a department within an organisation to its
it afloat. purchasing department to buy goods or
‘…in each of the years 1986 to 1989, services, stating the kind and quantity re-
Japan pumped a net sum of the order of quired, and forming the basis of a pur-
$100bn into foreign securities, notably chase order
purchase tax /p&tʃs tks/ noun a
purchase tax
into US government bonds’ [Financial

Times Review] tax paid on things which are bought
purchasing 326
purchasing /p&tʃsŋ/ noun, adjec- 6% wage claim the union asked for a
purchasing
tive buying 6% increase in wages

purchasing department /p&tʃsŋ
purchasing department
put into phrasal verb 왍 to put money
dpɑtmənt/ noun the section of a com-
|
into a business to invest money in a
pany which deals with the buying of business
stock, raw materials, equipment, etc. put off phrasal verb to arrange for
something to take place later than
purchasing manager /p&tʃsŋ
purchasing manager
planned 쑗 The meeting was put off for

mnd$ə/ noun the head of a purchas-
two weeks. 쑗 She asked if we could put
ing department
the visit off until tomorrow.
officer /p&tʃsŋ
purchasing officer
purchasing put on phrasal verb 1. 왍 to put an item

ɒfsə/ noun a person in a company or or- on the agenda to list an item for discus-
ganisation who is responsible for buying sion at a meeting 왍 to put an embargo
stock, raw materials, equipment, etc. on trade to forbid trade 2. 왍 property
purchasing power /p&tʃsŋ paυə/
purchasing power
shares put on gains of 10%-15%

noun the quantity of goods which can be shares in property companies increased
bought by a particular group of people or in value by 10%-15%
with a particular sum of money 쑗 the pur- put out phrasal verb to send something
chasing power of the school market 쑗 The out for other people to work on 쑗 We
purchasing power of the pound has fallen are planning to put out most of the work
over the last five years. to freelancers. 왍 to put work out to
purpose /p&pəs/ noun an aim or plan
purpose
contract to decide that work should be

왍 we need the invoice for tax purposes, done by a company on a contract, rather
for the purpose of declaration to the tax than employ members of staff to do it
authorities in order for it to be declared put up phrasal verb 1. 왍 who put up
to the tax authorities the money for the shop? who provided
push the envelope /pυʃ ði
push the envelope
the investment money for the shop to

envələυp/ verb to go beyond normal start? 왍 to put something up for sale to
limits, especially to attempt to do some- advertise that something is for sale 쑗
thing that is highly innovative and rather When he retired he decided to put his
risky town flat up for sale. 2. to increase
put /pυt/ verb to place or to fix 왍 the ac- something, to make something higher 쑗
put
counts put the stock value at £10,000 The shop has put up all its prices by 5%.
the accounts state that the value of the put option /pυt ɒpʃən/ noun an op-
put option
stock is £10,000 왍 to put a proposal to tion to sell shares at some price. Opposite
the vote to ask a meeting to vote for or call option
against a proposal 왍 to put a proposal to PV
the board to ask the board to consider a PV abbr present value

pyramid selling /prəmd selŋ/
pyramid selling
suggestion
put down phrasal verb 1. to make a de- noun an illegal way of selling goods or in-
posit 쑗 to put down money on a house 2. vestments to the public, where each sell-
to write an item in a ledger or an account ing agent pays for the franchise to sell the
book 쑗 to put down a figure for expens- product or service, and sells that right on
es to other agents together with stock, so that
put in phrasal verb 왍 to put an ad in a in the end the person who makes most
paper to have an ad printed in a news- money is the original franchiser, and sub-
paper 왍 to put in a bid for something agents or investors may lose all their in-
to offer to buy something, usually in vestments
writing 왍 to put in an estimate for ‘…much of the population had committed
something to give someone a written their life savings to get-rich-quick pyra-
calculation of the probable costs of car- mid investment schemes – where new-
rying out a job 왍 to put in a claim for comers pay the original investors until the
damage to ask an insurance company to money runs out – which inevitably col-
pay for damage 왍 the union put in a lapsed’ [Times]
Q
QC abbr 1. Queen’s Counsel 2. quality merce and postgraduate management
QC
circle qualifications’
qty abbr quantity
qty
qualified accounts /kwɒlfad ə
qualified accounts
quadruple /kwɒdrυp(ə)l/ verb to

quadruple
|
multiply four times 쑗 The company’s kaυnts/ plural noun accounts which
profits have quadrupled over the last five have been noted by the auditors because
years. they contain something with which the
auditors do not agree
quadruplicate /kwɒdruplkət/
quadruplicate
noun 왍 in quadruplicate with the origi-

qualified auditors’ report
qualified auditors’ report

nal and three copies 쑗 The invoices are /kwɒlfad ɔdtəz rpɔt/ noun a re-
|
printed in quadruplicate. 쑗 The applica- port from a company’s auditors which

tion form should be completed in quadru- points out areas in the accounts with
plicate. which the auditors do not agree or about
qualification
qualification
/kwɒlfkeʃ(ə)n/
|
which they are not prepared to express an
noun a document or some other formal opinion or where the auditors believe the
proof of the fact that someone has suc- accounts as a whole have not been pre-
cessfully completed a specialised course pared correctly or where they are unable
of study or has acquired a skill 쑗 You must to decide whether the accounts are correct
have the right qualifications for the job. 쑗 or not
qualify /kwɒlfa/ verb 1. 왍 to qualify
qualify
Job-hunting is difficult if you have no

qualifications. for to be entitled to something 쑗 The
‘…personnel management is not an activ- company does not qualify for a govern-
ity that can ever have just one set of quali- ment grant. 쑗 She qualifies for unemploy-
fications as a requirement for entry into it’ ment benefit. 2. 왍 to qualify as to follow
[Personnel Management] a specialised course of study and pass ex-
qualification of accounts aminations so that you can do a certain
qualification of accounts
/kwɒlfkeʃ(ə)n əv əkaυnts/ noun

| job 쑗 She has qualified as an accountant.
same as auditors’ qualification 쑗 He will qualify as a solicitor next year.
qualified /kwɒlfad/ adjective 1. hav-
qualified
3. 왍 the auditors have qualified the ac-
ing passed special examinations in a sub- counts the auditors have found something
ject 쑗 She is a qualified accountant. 쑗 We in the accounts of the company which has
have appointed a qualified designer to su- made them unable to agree that they show
pervise the decorating of the new recep- a ‘true and fair’ view of the company’s fi-
tion area. 왍 highly qualified with very nancial position
good results in examinations 쑗 All our ‘…federal examiners will also determine
staff are highly qualified. 쑗 They employ which of the privately insured savings and
twenty-six highly qualified engineers. 2. loans qualify for federal insurance’
with some reservations or conditions 쑗 [Wall Street Journal]
period /kwɒlfaŋ
qualifying period
qualified acceptance of a contract 쑗 The qualifying

plan received qualified approval from the pəriəd/ noun a time which has to pass
board. before something or someone qualifies
‘…applicants will be professionally quali- for something, e.g. a grant or subsidy 쑗
fied and ideally have a degree in Com- There is a six-month qualifying period be-
qualifying shares 328

fore you can get a grant from the local au- quantity survey /kwɒntti s&ve/
quantity survey
thority. noun the process of calculating the

qualifying shares /kwɒlfaŋ amount of materials and cost of labour
qualifying shares
ʃeəz/ plural noun the number of shares needed for a construction project
which you need to earn to get a bonus is- quantity surveyor /kwɒntti sə
quantity surveyor
sue or to be a director of the company, etc. veə/ noun a person who calculates the
quality /kwɒlti/ noun what something amount of materials and cost of labour
quality
is like or how good or bad something is 쑗 needed for a construction project

The poor quality of the service led to quart /kwɔt/ noun an old measure of
quart
many complaints. 쑗 There is a market for liquids or of loose goods, such as seeds (=
good-quality secondhand computers. 왍 1.136 litres)
we sell only quality farm produce we quarter /kwɔtə/ noun 1. one of four
quarter
sell only farm produce of the best quality equal parts (25%) 쑗 She paid only a quar-
quality circle /kwɒlti s&k(ə)l/ ter of the list price. 왍 a quarter of a litre,
quality circle
noun a group of employees in a company a quarter litre 250 millilitres 왍 a quar-

who meet to discuss quality controls and ter of an hour 15 minutes 2. a period of
working practices. Abbreviation QC three months 쑗 The instalments are paya-
quality control /kwɒlti kəntrəυl/ ble at the end of each quarter. 3. US a 25
quality control
noun the process of making sure that the cent coin (informal)
quality of a product is good ‘…corporate profits for the first quarter
quality controller /kwɒlti kən showed a 4 per cent drop from last year’s
quality controller
trəυlə/ noun a person who checks the final three months’ [Financial Times]
quality of a product ‘…economists believe the economy is
quality label /kwɒlti leb(ə)l/ noun
quality label
picking up this quarter and will do better
a label which states the quality of some- still in the second half of the year’
[Sunday Times]
thing COMMENT: In England, the quarter days
quango /kwŋ!əυ/ noun an official
quango
are 25th March (Lady Day), 24th June

body, set up by a government to investi- (Midsummer Day), 29th September
gate or deal with a special problem (NOTE: (Michaelmas Day) and 25th December
The plural is quangos.) (Christmas Day).
quarter day /kwɔtə de/ noun a day
quarter day
quantifiable /kwɒntfaəb(ə)l/ ad-

quantifiable
jective possible to quantify 쑗 The effect of at the end of a quarter, when rents, fees
the change in the discount structure is not etc. should be paid
quarterly /kwɔtəli/ adjective, adverb
quarterly
quantifiable.
quantify /kwɒntfa/ verb 왍 to quan-
quantify
happening once every three months 쑗
tify the effect of something to show the There is a quarterly charge for electricity.
effect of something in figures 쑗 It is im- 쑗 The bank sends us a quarterly state-
possible to quantify the effect of the new ment. 쑗 We agreed to pay the rent quar-
legislation on our turnover. terly or on a quarterly basis. 쐽 noun the
results of a corporation, produced each
quantity /kwɒntti/ noun 1. the
quantity
quarter
amount or number of items 쑗 a small
quartile /kwɔtal/ noun one of a se-
quartile
quantity of illegal drugs 쑗 She bought a

large quantity of spare parts. 2. an ries of three figures below which 25%,
amount, especially a large amount 3. 왍 to 50% or 75% of the total falls
quasi- /kweza/ prefix almost or which
quasi-
carry out a quantity survey to estimate

the amount of materials and the cost of seems like 쑗 a quasi-official body
quay /ki/ noun the place in a port where
quay
the labour required for a construction

project ships can tie up 왍 price ex quay, price ex
quantity discount /kwɒntti dock price of goods after they have been
quantity discount
dskaυnt/ noun a discount given to peo- unloaded, not including transport from
ple who buy large quantities the harbour
/kwɒntti Queen’s Counsel /kwinz kaυnsəl/
Queen’s Counsel
quantity purchase
quantity purchase
p&tʃs/ noun a large quantity of goods noun a senior lawyer. Abbreviation QC

bought at one time 쑗 The company offers query /kwəri/ noun a question 쑗 The
query
a discount for quantity purchase. chief accountant had to answer a mass of

329 quota
queries from the auditors. 쐽 verb to ask a of people waiting in queues, that can help
question about something, to suggest that to establish the best way of providing a
something may be wrong 쑗 The share- service. Average waiting and service
holders queried the payments to the times are calculated using mathematical
chairman’s son. formulae, and on the basis of these it is
question /kwestʃ(ə)n/ noun 1. words
question
possible to decide what would be the most
which need an answer 쑗 The managing cost-effective number of service facilities
director refused to answer questions and the most efficient way of organising a
about redundancies. 쑗 The market re- process. (NOTE: Queuing theory was first
applied to the provision of telephone
search team prepared a series of ques-
switching equipment but is now used in
tions to test the public’s reactions to col-
many areas, including machine mainte-
our and price. 쑗 The training manager
nance, production lines, and air trans-
prepared a series of questions to test the port.)
trainees’ reactions in different sales situ-
quick ratio /kwk reʃiəυ/ noun same
quick ratio
ations. 2. a problem 쑗 the main question

is that of cost 쑗 The board discussed the as liquidity ratio
question of redundancy payments. 쑗 The quid /kwd/ noun one pound Sterling
quid
main question is that of the cost of the (slang)

training programme. 쐽 verb 1. to ask quid pro quo /kwd prəυ kwəυ/
quid pro quo
questions 쑗 The police questioned the ac- noun money paid or an action carried out
counts staff for four hours. 쑗 She ques- in return for something 쑗 She agreed to
tioned the chairman on the company’s in- repay the loan early, and as a quid pro
vestment policy. 2. to show doubt about quo the bank released the collateral.
something or suggest that something may
quit /kwt/ verb to resign or leave a job
quit
be wrong 쑗 We all question how accurate

the data is. 쑗 He quit after an argument with the
managing director. 쑗 Several of the man-
questionnaire /kwestʃəneə/ noun a
questionnaire
|
agers are quitting to set up their own
printed list of questions aiming at collect- company. (NOTE: quitting – quit)
ing data in an unbiased way, especially
quite /kwat/ adverb 1. more or less 쑗
quite
used in market research 쑗 We’ll send out

a questionnaire to test the opinions of us- she can type quite fast 쑗 He is quite a
ers of the system. 쑗 We were asked to an- good salesman. 쑗 Sales were quite satis-
swer or to fill in a questionnaire about factory in the first quarter. 2. very or com-
holidays abroad. 쑗 Questionnaires were pletely 쑗 He is quite capable of running
handed to the staff asking them about the department alone. 쑗 The company is
their attitudes to work conditions. quite possibly going to be sold. 3. 왍 quite
a few, quite a lot many 쑗 Quite a few of
queue /kju/ noun 1. a line of people
queue
our sales staff are women. 쑗 Quite a lot of

waiting one behind the other 쑗 to form a orders come in the pre-Christmas period.
queue or to join a queue 쑗 Queues formed quorate /kwɔret/ adjective (meet-
quorate
at the doors of the bank when the news

ing) with enough people to form a quo-
spread about its possible collapse. 2. a se- rum
ries of documents such as orders or appli- COMMENT: If there is a quorum at a meet-
cation forms which are dealt with in order ing, the meeting is said to be ‘quorate’; if
왍 his order went to the end of the queue there aren’t enough people present to
his order was dealt with last 왍 mortgage make a quorum, the meeting is ‘in-
queue a list of people waiting for mort- quorate’.
gages 쐽 verb to form a line one after the quorum /kwɔrəm/ noun a minimum
quorum
other for something 쑗 When food was ra- number of people who have to be present
tioned, people had to queue for bread. 쑗 at a meeting to make it valid 왍 to have a
We queued for hours to get tickets. 쑗 A list quorum to have enough people present
of companies queueing to be launched on for a meeting to go ahead 쑗 Do we have a
the Stock Exchange. 쑗 The candidates quorum?
queued outside the interviewing room. quota /kwəυtə/ noun a limited amount
quota
queuing theory /kjuin θəri/ noun

queuing theory
of something which is allowed to be pro-

a theoretical framework, based on studies duced, imported, etc.
quota system 330

‘Canada agreed to a new duty-free quota what a cost or price is likely to be 쑗 to
of 600,000 tonnes a year’ [Globe quote a price for supplying stationery 쑗
and Mail (Toronto)] Their prices are always quoted in dollars.
quota system /kwəυtə sstəm/ 쑗 He quoted me a price of £1,026. 쑗 Can
quota system
noun 1. a system where imports or sup- you quote for supplying 20,000 enve-
plies are regulated by fixed maximum lopes? 쐽 noun an estimate of how much
amounts 2. an arrangement for distribu- something will cost (informal) 쑗 to give
tion which allows each distributor only a someone a quote for supplying computers
specific number of items 쑗 We have asked for quotes for refitting
quotation /kwəυteʃ(ə)n/ noun 1. an the shop. 쑗 Her quote was the lowest of
quotation
estimate of how much something will three. 쑗 We accepted the lowest quote.
cost 쑗 They sent in their quotation for the ‘…banks operating on the foreign ex-
job. 쑗 Our quotation was much lower change market refrained from quoting for-
than all the others. 쑗 We accepted the ward US/Hongkong dollar exchange
lowest quotation. 2. 왍 the company is rates’ [South China Morning Post]
going for a quotation on the Stock Ex- /kwəυtd
quoted company
quoted company
change the company has applied to the kmp(ə)ni/ noun a company whose
Stock Exchange to have its shares listed 쑗 shares can be bought or sold on the Stock
We are seeking a stock market quotation. Exchange
quotation on the Stock Exchange
quotation on the Stock Exchange
quoted investments /kwəυtd n

quoted investments
/kwəυteʃ(ə)n ɒn ði stɒk k

|
| |
vestmənts/ noun investments which are

stʃend$/ noun a listing of the price of a listed on a Stock Exchange
share on the Stock Exchange
quoted shares /kwəυtd ʃeəz/ plu-
quoted shares
quote /kwəυt/ verb 1. to repeat words

quote
or a reference number used by someone ral noun shares which can be bought or
else 쑗 He quoted figures from the annual sold on the Stock Exchange
qwerty keyboard /kw&ti kibɔd/
qwerty keyboard
report. 쑗 In reply please quote this

number. 쑗 When making a complaint noun an English language keyboard,
please quote the batch number printed on where the first letters of the top row are Q-
the box. 쑗 She replied, quoting the W-E-R-T-Y 쑗 The computer has a nor-
number of the account. 2. to estimate mal qwerty keyboard.
R
rack /rk/ noun a frame to hold items including all the seller’s costs until the
rack
for display 쑗 a magazine rack 쑗 Put the goods are delivered to the railway for
birthday-card display rack near the shipment
checkout. 쑗 We need a bigger display rack railhead /relhed/ noun the end of a
railhead
for these magazines. railway line 쑗 The goods will be sent to

racket /rkt/ noun an illegal deal the railhead by lorry.
racket
which makes a lot of money 쑗 She runs a railway /relwe/ noun a system using
railway
cut-price ticket racket. trains to carry passengers and goods 쑗

racketeer /rktə/ noun a person The local railway station has frequent
racketeer
who runs a racket trains to London. 쑗 They are planning to

racketeering /rktərŋ/ noun US
racketeering
close the railway line as it isn’t economic.
쑗 The country’s railway network is being
|
the crime of carrying on an illegal busi-

ness to make money modernised. (NOTE: The US term is rail-
road.)
‘…he was charged with 98 counts of rack-
raise /rez/ noun US an increase in sal-
raise
eteering and securities fraud and went on

to serve two years in jail. He was banned ary 쑗 He asked the boss for a raise. 쑗 She
for life from the securities industry’ is pleased – she has had her raise. 쑗 She
[Times] got her raise last month. (NOTE: The UK
rack jobber /rk d$ɒbə/ noun a
rack jobber
term is rise.) 쐽 verb 1. to ask a meeting
wholesaler who sells goods by putting to discuss a question 쑗 to raise a question
them on racks in retail shops or a point at a meeting 쑗 In answer to the
questions raised by Mr Smith. 쑗 The
rack rent /rk rent/ noun 1. a very
rack rent
chairman tried to prevent the question of

high rent 2. full yearly rent of a property redundancies being raised. 2. 왍 to raise
let on a normal lease an invoice to write out or print out an in-
raid /red/ noun a sudden attack
raid
voice 3. to increase or to make higher 쑗

raider /redə/ noun a person or compa- The government has raised the tax levels.
raider
ny which buys a stake in another company 쑗 Air fares will be raised on June 1st. 쑗
before making a hostile takeover bid. The company raised its dividend by 10%.
Also called corporate raider 쑗 When the company raised its prices, it
‘…bear raiding involves trying to depress lost half of its share of the market. 쑗 The
a target company’s share price by heavy organisation will raise wages if inflation
selling of its shares, spreading adverse ru- gets worse. 쑗 This increase in production
mours or a combination of the two. As an will raise the standard of living in the ar-
added refinement, the raiders may sell ea. 4. to obtain money or to organise a
short. The aim is to push down the price so loan 쑗 The company is trying to raise the
that the raiders can buy back the shares capital to fund its expansion programme.
they sold at a lower price’ [Guardian] 쑗 The government raises more money by
rail /rel/ noun a railway system 쑗 Six
rail
indirect taxation than by direct. 쑗 Where

million commuters travel to work by rail will he raise the money from to start up
each day. 쑗 We ship all our goods by rail. his business?
쑗 Rail travellers are complaining about ‘…the company said yesterday that its re-
rising fares. 쑗 Rail travel is cheaper than cent share issue has been oversubscribed,
air travel. 왍 free on rail (FOR) a price raising A$225.5m’ [Financial Times]
rake-off 332
‘…investment trusts can raise capital, but random error /rndəm erə/ noun a
random error
this has to be done as a company does, computer error for which there is no spe-
by a rights issue of equity’ [Investors cial reason
Chronicle]
random sample /rndəm sɑmpəl/
random sample
‘…over the past few weeks, companies noun a sample taken without any selec-
raising new loans from international banks tion
have been forced to pay more’ [Financial
random sampling /rndəm
random sampling
Times]
rake in phrasal verb to gather some- sɑmplŋ/ noun the action of choosing
of samples for testing without any special
thing together 왍 to rake in cash, to
rake it in to make a lot of money selection
range /rend$/ noun 1. a series of items
range
rake-off /rek ɒf/ noun a person’s share

rake-off
쑗 Their range of products or product

of profits from a deal, especially if ob- range is too narrow. 쑗 We offer a wide
tained illegally 쑗 The group gets a rake- range of sizes or range of styles. 쑗 There
off on all the company’s sales. 쑗 He got a are a whole range of alternatives for the
£100,000 rake-off for introducing the new new salary scheme. 2. a spread of sizes or
business. (NOTE: The plural is rake-offs.) amounts within fixed limits 쑗 We make
rally /rli/ noun a rise in price when the
rally
shoes in a wide range of prices. 쑗 The

trend has been downwards 쑗 Shares company’s salary scale ranges from
staged a rally on the Stock Exchange. 쑗 £5,000 for a trainee to £50,000 for the
After a brief rally shares fell back to a managing director. 3. a set of activities or
new low. 쐽 verb to rise in price, when the products of the same general type or vari-
trend has been downwards 쑗 Shares ral- ety 쑗 This falls within the company’s
lied on the news of the latest government range of activities. 쐽 verb to be within a
figures. group of sizes or amounts falling within
‘…when Japan rallied, it had no difficulty fixed limits 쑗 The company sells products
in surpassing its previous all-time high, ranging from cheap downmarket pens to
and this really stretched the price- imported luxury items. 쑗 The company’s
earnings ratios into the stratosphere’ salary scale ranges from £10,000 for a
[Money Observer] trainee to £150,000 for the managing di-
‘…bad news for the US economy ulti- rector. 쑗 Our activities range from mining
mately may have been the cause of a late in the USA to computer services in Scot-
rally in stock prices yesterday’ land.
rank /rŋk/ noun a position in a compa-
rank
[Wall Street Journal]

RAM /rm/ abbr random access memo-
RAM
ny or an organisation, especially one
ry which shows how important someone is
relative to others 쑗 All managers are of
ramp /rmp/ noun an act of buying
ramp
equal rank. 쑗 Promotion means moving

shares in order to force up the price (as up from a lower rank. 왍 in rank order in
when a company buys its own shares ille- order according to position of importance
gally during a takeover bid) 쐽 verb 1. to classify in order of impor-
R&D
R&D abbr research and development tance 쑗 Candidates are ranked in order of
random /rndəm/ adjective done
random
their test results. 쑗 Deferred ordinary
without making any special selection 왍 at shares do not rank for dividend. 2. to be
random without special selection 쑗 The in a position 쑗 The non-voting shares
director picked out two sales reports at rank equally with the voting shares. 쑗 De-
random. ferred ordinary shares do not rank for
dividend. 왍 all managers rank equally
random access memory /rndəm
random access memory
all managers have the same status in the

kses mem(ə)ri/ noun memory that al- company
lows access to any location in any order rank and file /rŋk ən fal/ noun the
rank and file
without having to access the rest of mem- ordinary members of a trade union or oth-
ory. Abbreviation RAM er association 쑗 The rank and file of the
random check /rndəm tʃek/ noun
random check
trade union membership. 쑗 The decision

a check on items taken from a group with- was not liked by the rank and file. 왍 rank-
out any special selection and-file members ordinary members
333 ration
ranking /rŋkŋ/ adjective in a certain rate of inflation /ret əv nfleʃ(ə)n/
ranking rate of inflation
position 쑗 a high-ranking official 왍 she is noun the percentage increase in prices

the top-ranking, the senior-ranking of- over a twelve-month period
ficial in the delegation she is the member rate of interest /ret əv ntrəst/
rate of interest
of the delegation who occupies the high- noun same as interest rate
est official post rate of production /ret əv prə
rate of production
rare /reə/ adjective not common 쑗 Expe- dkʃən/ noun the speed at which items
rare
rienced salesmen are rare these days. 쑗 It are made. Also called production rate
is rare to find a small business with good rate of return /ret əv rt&n/ noun
rate of return
cash flow. the amount of interest or dividend which

rarely /reəli/ adverb not often 쑗 The
rarely
comes from an investment, shown as a

company’s shares are rarely sold on the percentage of the money invested
Stock Exchange. 쑗 The chairman is rarely rate of sales /ret əv selz/ noun the
rate of sales
in his office on Friday afternoons. speed at which units are sold

rata /rɑtə/ 쏡 pro rata
rata
rate of unemployment /ret əv

rate of unemployment
rate /ret/ noun 1. the money charged nmplɔmənt/ noun same as unem-
rate
for time worked or work completed 2. an ployment rate

amount of money paid, e.g. as interest or rates plural noun local UK taxes for-
rates
dividend, shown as a percentage 3. the merly levied on property in the UK and

value of one currency against another 쑗 now replaced by the council tax
What is today’s rate or the current rate for ratification /rtfkeʃ(ə)n/ noun of-
ratification
the dollar? 왍 to calculate costs on a

|
ficial approval 쑗 The agreement has to go

fixed exchange rate to calculate costs on to the board for ratification.
an exchange rate which does not change
ratify /rtfa/ verb to approve official-
ratify
4. an amount, number or speed compared

with something else 쑗 the rate of increase ly 쑗 The agreement has to be ratified by
in redundancies 쑗 The rate of absentee- the board. (NOTE: ratifies – ratifying –
ism or The absenteeism rate always in- ratified)
creases in fine weather. 쐽 verb 왍 to rate rating /retŋ/ noun 1. the act of giving
rating
someone highly to value someone, to something a value, or the value given 2.

think someone is very good the valuing of property for local taxes. 쒁
‘…state-owned banks cut their prime rate ratings
rating officer /retŋ ɒfsə/ noun an
rating officer
a percentage point to 11%’ [Wall

Street Journal] official in a local authority who decides
‘…the unions had argued that public sec- the rateable value of a commercial prop-
tor pay rates had slipped behind rates ap- erty
plying in private sector employment’ ratings /retŋz/ plural noun the esti-
ratings
[Australian Financial Review] mated number of people who watch TV

‘…royalties have been levied at a rate of programmes 쑗 The show is high in the
12.5% of full production’ [Lloyd’s List] ratings, which means it will attract good
‘…the minister is not happy that banks are publicity.
paying low interest on current accounts of ratio /reʃiəυ/ noun a proportion or
ratio
less than 10 per cent, but are charging rates quantity of something compared to some-
of between 60 and 71 per cent on loans’
[Business in Africa] thing else 쑗 the ratio of successes to fail-
ures 쑗 Our product outsells theirs by a ra-
rateable value /retəb(ə)l vlju/
rateable value
tio of two to one. 쑗 With less manual work

noun a value of a property as a basis for available, the ratio of employees to man-
calculating local taxes agers is decreasing.
rate card /ret kɑd/ noun a list of
rate card
ration /rʃ(ə)n/ verb to allow someone

ration
charges for advertising issued by a news- only a certain amount (of food or money)
paper or magazine 쑗 to ration investment capital or to ration
rate of exchange /ret əv ks funds for investment 왍 to ration mort-
rate of exchange
tʃend$/ noun same as exchange rate gages to make only a certain amount of
쑗 The current rate of exchange is $1.60 to money available for house mortgages,
the pound. and so restrict the number of mortgages
rationale 334
which can be given 쑗 Mortgages are ra- readjust /riəd$st/ verb to adjust
readjust
tioned for first-time buyers. something again or in a new way, or to

rationale /rʃənɑl/ noun a set of rea- change in response to new conditions 쑗 to
rationale
sons for doing something 쑗 I do not un- readjust prices to take account of the rise
derstand the rationale behind the deci- in the costs of raw materials 쑗 to readjust
sion to sell the warehouse. salary scales 쑗 Share prices readjusted
rationalisation
rationalisation
/rʃ(ə)nəla |
quickly to the news of the devaluation.
zeʃ(ə)n/, rationalization noun a proc- readjustment /riəd$stmənt/ noun
readjustment
ess designed to make an organisation effi- an act of readjusting 쑗 a readjustment in

cient and profitable again when its per- pricing 쑗 After the devaluation there was
formance or results have been poor, a period of readjustment in the exchange
which usually involves changes in organ- rates.
read only memory (ROM) /rid
read only memory
isation structure, redundancies, plant clo-

sures and cutbacks in supplies and re- əυnli meməri/ noun a computer memo-
sources (NOTE: The term is also used in ry device that has had data written into it
a cynical way as a euphemism for mass when it is manufactured, and so can only
redundancies.) be read but not written to
rationalise /rʃ(ə)nəlaz/, rational- readvertise /ridvətaz/ verb to ad-
rationalise readvertise
ize verb to make something more effi- vertise again 쑗 All the candidates failed
cient 쑗 The rail company is trying to ra- the test so we will just have to readvertise.
tionalise its freight services. 쑗 The organ- 왍 to readvertise a post to put in a second
isation is trying to rationalise its salary advertisement for a vacant post
scales. readvertisement /riədv&tsmənt/
readvertisement
rationing /rʃ(ə)nŋ/ noun the act of noun a second advertisement for a vacant
rationing
allowing only a certain amount of some- post 쑗 The readvertisement attracted only
thing to be sold 쑗 There may be a period two new applicants.
of food rationing this winter. 쑗 Building ready /redi/ adjective 1. fit to be used
ready
societies are warning of mortgage ration- or to be sold 쑗 The order will be ready for
ing. delivery next week. 쑗 The driver had to
rat race /rt res/ noun competition wait because the shipment was not ready.
rat race
for success in business or in a career 쑗 He 2. quick 왍 these items find a ready sale
decided to get out of the rat race and buy in the Middle East these items sell rapid-
a small farm. ly or easily in the Middle East
raw data /rɔ detə/ noun data as it is ready cash /redi kʃ/ noun money
ready cash
raw data
put into a computer, without being ana- which is immediately available for pay-
lysed ment
ready-made /redi med/, ready-to-
ready-made
raw materials /rɔ mətəriəlz/ plural

raw materials
wear / redi tə weə/ adjective referring

|
noun basic materials which have to be

treated or processed in some way before to clothes which are mass-produced and
they can be used, e.g. wood, iron ore or not made for each customer personally 쑗
crude petroleum The ready-to-wear trade has suffered
Rd
Rd abbr road from foreign competition.

ready money /redi mni/ noun cash
ready money
R/D
R/D abbr refer to drawer or money which is immediately available

re /ri/ preposition about, concerning or
re
real /rəl/ adjective 1. genuine and not

real
referring to 쑗 re your inquiry of May 29th an imitation 쑗 His case is made of real
쑗 re: Smith’s memo of yesterday 쑗 re: the
leather or he has a real leather case. 쑗
agenda for the AGM That car is a real bargain at £300. 2. (of
re- /ri/ prefix again
re-
prices or amounts) shown in terms of

react /rikt/ verb 왍 to react to to do or money adjusted for inflation 왍 in real
react
to say something in reply to what some- terms actually or really 쑗 Salaries have
one has done or said 쑗 Shares reacted gone up by 3% but with inflation running
sharply to the fall in the exchange rate. 쑗 at 5% that is a fall in real terms.
How will the chairman react when we tell ‘…real wages have been held down dra-
him the news? matically: they have risen as an annual rate
335 reapply
of only 1% in the last two years’ realisation of assets
realisation of assets
[Sunday Times] /rəlazeʃ(ə)n əv sets/ noun the act

‘…sterling M3 rose by 13.5% in the year of selling of assets for money
to August – seven percentage points faster realise /rəlaz/, realize verb 1. to un-
realise
than the rate of inflation and the biggest in- derstand clearly 쑗 He soon realised the
crease in real terms for years’ [Economist] meeting was going to vote against his
‘Japan’s gross national product for the proposal. 쑗 The small shopkeepers real-
April-June quarter dropped 0.4% in real ised that the hypermarket would take
terms from the previous quarter’ away some of their trade. 쑗 When she
[Nikkei Weekly] went into the manager’s office she did not
‘…the Federal Reserve Board has eased realise she was going to be promoted. 2.
interest rates in the past year, but they are to make something become real 왍 to real-
still at historically high levels in real ise a project or a plan to put a project or
terms’ [Sunday Times]
a plan into action 3. to sell for money 쑗
real earnings /rəl &nŋz/, real wag-
real earnings
The company was running out of cash, so

es /rəl wed$z/ plural noun income the board decided to realise some proper-
which is available for spending after tax ty or assets. 쑗 The sale realised £100,000.
and other contributions have been deduct- really /rəli/ adverb in fact 쑗 The com-
really
ed, corrected for inflation. Also called pany is really making an acceptable prof-
real income, real wages
it. 쑗 The office building really belongs to
real estate /rəl stet/ noun property
real estate
|
the chairman’s father. 쑗 The shop is real-
in the form of land or buildings ly a general store, though it does carry
‘…on top of the cost of real estate, the in- some books.
vestment in inventory and equipment to real time /rəl tam/ noun the time
real time
open a typical warehouse comes to around when a computer is working on the

$5 million’ [Duns Business Month] processing of data while the event to
real estate agent /rəl stet
real estate agent
|
which the data refers is actually taking
ed$ənt/ noun US a person who sells place 쑗 The website allows you to check
property for customers share prices in real time or gives real time
real estate developer /rəl stet d
real estate developer
| | information on share prices.

veləpə/ noun a person or company that real time company /rəl tam
real time company
erects buildings on vacant land or im- kmp(ə)ni/ noun a company that can re-
proves buildings to increase their value spond immediately to customer demands
realign /riəlan/ verb to change the re- by communicating over the Internet
realign
lationship between things 쑗 to realign real time manager /rəl tam

real time manager
currencies mnd$ə/ noun a manager who uses the

realignment /riəlanmənt/ noun the Internet or similar technologies to provide
realignment
process of changing a system, so that dif- the immediate service that customers ex-
ferent parts are in a different relationship pect
to each other 왍 a currency realignment real-time system /rəl tam sstəm/
real-time system
a change in the international exchange noun a computer system where data is in-
rates putted directly into the computer which
real income /rəl nkm/ noun same automatically processes it to produce in-
real income
as real earnings formation which can be used immediately

realty /rəlti/ noun property or real es-
realty
realisable assets /rəlazəb(ə)l

realisable assets
sets/ noun assets which can be sold for tate

real wages /rəl wed$z/ plural noun
real wages
money
realisation /rəlazeʃ(ə)n/, realiza-
realisation
|
same as real earnings
reapplication /riplkeʃ(ə)n/
reapplication
tion noun 1. a gradual understanding 쑗 |
The chairman’s realisation that he was noun a second or subsequent application

going to be outvoted. 2. the act of making for a job
real 왍 the realisation of a project putting reapply /riəpla/ verb to apply again
reapply
a project into action 쑗 The plan moved a 쑗 When he saw that the job had still not
stage nearer realisation when the con- been filled, he reapplied for it. (NOTE: re-
tracts were signed. applies – reapplying – reapplied)
reappoint 336
reappoint /riəpɔnt/ verb to appoint rebound /rbaυnd/ verb to go back up
reappoint rebound
| |
someone again 쑗 She was reappointed again quickly 쑗 The market rebounded on
chairman for a further three-year period. the news of the government’s decision.
recall /rkɔl/ verb (of a manufacturer)
recall
/riəpɔntmənt/
reappointment
reappointment |
|
noun the act of being reappointed 쑗 On to ask for products to be returned because
her reappointment as chairman, she of possible faults 쑗 They recalled 10,000
thanked the board for their support. 쑗 washing machines because of a faulty
The board decided to offer him reappoint- electrical connection. 쐽 noun the ability
ment for a further two years at the end of to remember an advertisement
recd abbr received
recd
his fixed-term contract.

receipt /rsit/ noun 1. a piece of paper
receipt
reason /riz(ə)n/ noun an explanation

reason
|
as to why something has happened 쑗 the showing that money has been paid or that
something has been received 쑗 He kept
airline gave no reason for the plane’s late
the customs receipt to show that he had
arrival 쑗 The chairman was asked for his paid duty on the goods. 쑗 She lost her taxi
reasons for cancelling the meeting. 쑗 The receipt. 쑗 Keep the receipt for items pur-
company gave no reason for the sudden chased in case you need to change them
closure of the factory. later. 2. the act of receiving something 쑗
reasonable /riz(ə)nəb(ə)l/ adjective
reasonable
Goods will be supplied within thirty days

1. sensible, or not annoyed 쑗 The manag- of receipt of order. 쑗 Invoices are payable
er of the shop was very reasonable when within thirty days of receipt. 쑗 On receipt
I tried to explain that I had left my credit of the notification, the company lodged an
cards at home. 왍 no reasonable offer re- appeal. 왍 to acknowledge receipt of a
fused we will accept any offer which is letter to write to say that you have re-
not extremely low 2. moderate or not ex- ceived a letter 쑗 We acknowledge receipt
pensive 쑗 The union has decided to put in of your letter of the 15th. 쒁 receipts 쐽
a reasonable wage claim. verb to stamp or to sign a document to
reassess /riəses/ verb to assess
reassess
|
show that it has been received, or to stamp
again 쑗 The manager was asked to reas- an invoice to show that it has been paid 쑗
sess the department staff, after the assess- Receipted invoices are filed in the ring
ments were badly done by the supervi- binder.
receipt book /rsit bυk/ noun a book
receipt book
sors. |
of blank receipts to be filled in when pur-

reassessment /riəsesmənt/ noun a
reassessment
|
chases are made
new assessment
receipts /rsits/ plural noun money
receipts
reassign /riəsan/ verb to assign

reassign
|
taken in sales 쑗 to itemise receipts and ex-
something again or to assign someone to penditure 쑗 Receipts are down against
a new position the same period of last year.
reassignment /riəsanmənt/ noun
reassignment
|
‘…the public sector borrowing require-
a new assignment ment is kept low by treating the receipts
from selling public assets as a reduction in
reassure /riəʃυə/ verb 1. to make
reassure
|
borrowing’ [Economist]
someone calm or less worried 쑗 The mar- ‘…gross wool receipts for the selling sea-
kets were reassured by the government son to end June appear likely to top $2 bil-
statement on import controls. 쑗 The man- lion’ [Australian Financial Review]
ager tried to reassure her that she would receipts and payments basis /r
receipts and payments basis
not lose her job. 2. to reinsure, to spread sits ən pemənts bess/ noun a
the risk of an insurance by asking another method of preparing the accounts of a
insurance company to cover part of it and business, where receipts and payments
receive part of the premium are shown at the time when they are
rebate /ribet/ noun 1. a reduction in
rebate
made, as opposed to showing debits or

the amount of money to be paid 쑗 We are credits which are outstanding at the end of
offering a 10% rebate on selected goods. the accounting period. Also called ‘cash
2. money returned to someone because basis’.
they have paid too much 쑗 She got a tax receivable /rsivəb(ə)l/ adjective
receivable
rebate at the end of the year. able to be received

337 recognised agent

receivables /rsivəb(ə)lz/ plural COMMENT: There are various ways of de-
receivables
noun money which is owed to a company ciding if a recession is taking place: the
usual one is when the GNP falls for three
receive /rsiv/ verb to get something
receive
|
consecutive quarters.
which is given or delivered to you 쑗 We recipient / rspiənt/ noun a person
recipient
received the payment ten days ago. 쑗 The who receives something 쑗 She was the re-
employees have not received any salary cipient of an allowance from the compa-
for six months. 쑗 The goods were re- ny. 쑗 He was the recipient of the award
ceived in good condition. 왍 ‘received for salesperson of the year. 쑗 A registered
with thanks’ words put on an invoice to letter must be signed for by the recipient.
show that a sum has been paid
reciprocal /rsprək(ə)l/ adjective
reciprocal
receiver /rsivə/ noun 1. a person

receiver |
done by one person, company or country

who receives something 쑗 He signed as to another one, which does the same thing
receiver of the shipment. 2. same as offi- in return 쑗 We signed a reciprocal agree-
cial receiver ment or a reciprocal contract with a Rus-
receivership /rsivəʃp/ noun 왍 the
receivership
|
sian company.
company went into receivership the reciprocal holdings /rsprək(ə)l
reciprocal holdings
company was put into the hands of a re-

|
həυldŋz/ plural noun a situation where

ceiver
two companies own shares in each other
‘…it suggests a classic case for receiver- to prevent takeover bids
ship. There appear to be good businesses
reciprocal trade /rsprək(ə)l tred/
reciprocal trade
to be sold to the right owner within a group |
that is terminally sick’ [Times] noun trade between two countries

receiving /rsivŋ/ noun an act of get- reciprocate /rsprəket/ verb to do
receiving reciprocate
| |
ting something which has been delivered the same thing for someone as that person
receiving clerk /risivŋ klɑk/ noun
receiving clerk
|
has done for you 쑗 They offered us an ex-
an official who works in a receiving office clusive agency for their cars and we re-
ciprocated with an offer of the agency for
receiving department /risivŋ d
receiving department
our buses.
| |
pɑtmənt/ noun a section of a company

which deals with incoming goods or pay- ‘…in 1934 Congress authorized President
ments Roosevelt to seek lower tariffs with any
country willing to reciprocate’ [Duns
receiving office /rsivŋ ɒfs/ noun
receiving office
|
Business Month]
an office where goods or payments are re-
reckon /rekən/ verb 1. to calculate
reckon
ceived
something 쑗 to reckon the costs at
receiving order /risivŋ ɔdə/ noun
receiving order
|
£25,000 쑗 We reckon the loss to be over
an order from a court appointing an offi- £1m. 쑗 They reckon the insurance costs to
cial receiver to a company be too high. 2. 왍 to reckon on to depend
reception /rsepʃən/ noun a place in a
reception
| on, to expect something to happen 쑗 They

hotel or office where visitors register or reckon on being awarded the contract. 쑗
say who they have come to see He can reckon on the support of the man-
reception clerk /rsepʃ(ə)n klɑk/ aging director.
reception clerk
noun a person who works at a reception reclaim /rklem/ verb to claim some-
reclaim
desk thing which you owned before 쑗 After he

reception desk /rsepʃ(ə)n desk/ stopped paying the hire purchase instal-
reception desk
noun a desk where customers or visitors ments, the finance company tried to re-
check in claim his car.
receptionist /rsepʃənst/ noun a recognise /rekə!naz/, recognize
receptionist recognise
person in a hotel or office who meets verb 왍 to recognise a union to agree that
guests or clients, answers the phone, etc. a union can act on behalf of employees in
recession /rseʃ(ə)n/ noun a period
recession
|
a company 쑗 Although more than half the
where there is a decline in trade or in the staff had joined the union, the manage-
economy 쑗 The recession has reduced ment refused to recognise it.
recognised agent /rekə!nazd
recognised agent
profits in many companies. 쑗 Several

firms have closed factories because of the ed$ənt/ noun an agent who is approved
recession. by the company for which they act
recommend 338
recommend /rekəmend / verb 1. to
recommend
| very poor time-keeping record. 왍 for the

suggest that something should be done 쑗 record or to keep the record straight in
The investment adviser recommended order that everyone knows what the real
buying supermarket shares. 쑗 We do not facts of the matter are 쑗 For the record, I
recommend bank shares as a safe invest- should like to say that these sales figures
ment. 쑗 The management consultant rec- have not yet been checked by the sales de-
ommended a different form of pay struc- partment. 왍 on record reported in a pub-
ture. 2. to say that someone or something lished document, e.g. in a newspaper 쑗
is good 쑗 He recommended a shop in the The chairman is on record as saying that
High Street for shoes. 쑗 I certainly would profits are set to rise. 왍 off the record un-
not recommend Miss Smith for the job. 쑗 officially, in private 쑗 He made some re-
The board meeting recommended a divi- marks off the record about the disastrous
dend of 10p a share. 쑗 Can you recom- home sales figures. 2. a description of
mend a good hotel in Amsterdam? what has happened in the past 쑗 the sales-
‘…the supermarkets have been fair with person’s record of service or service
pricing – not trying to beat us down as record 쑗 the company’s record in indus-
many people might think. They are all sell- trial relations 3. a success which is better
ing at the recommended price which than anything before 쑗 Last year was a
means the same as our smaller retail cus- record year for the company. 쑗 Our top
tomers’ [The Grocer] sales rep has set a new record for sales
recommendation /rekəmen per call. 왍 record sales, record losses,
recommendation
deʃ(ə)n/ noun an act of saying that record profits sales, losses or profits
someone or something is good 쑗 We ap- which are higher than ever before 왍 we
pointed him on the recommendation of his broke our record for June we sold more
former employer. than we have ever sold before in June 쑗
recommended
recommended retail price
retail price Sales last year equalled the record set in

/rekəmendd ritel pras/ noun the 1997. 쐽 verb /rkɔd/ to note or report
|
price at which a manufacturer suggests a something 쑗 The company has recorded

product should be sold on the retail mar- another year of increased sales.
record-breaking /rekɔd brekŋ/
record-breaking
ket, though this may be reduced by the re-

tailer. Abbreviation RRP. Also called ad- adjective better or worse than anything
ministered price which has happened before 쑗 We are
reconcile /rekənsal/ verb to make proud of our record-breaking profits in
reconcile
two financial accounts or statements 2000.

record date /rekɔd det/ noun the
record date
agree 쑗 She is trying to reconcile one ac-

count with another or to reconcile the two date when a computer data entry or record
accounts. is made
reconciliation /rekənslieʃ(ə)n/, recorded delivery /rkɔdd d
reconciliation recorded delivery
| | |
reconcilement /rekənsalmənt/ noun lv(ə)ri/ noun a mail service where the

the act of making two accounts or state- letters are signed for by the person receiv-
ments agree ing them 쑗 We sent the documents (by) re-
reconciliation
reconciliation statement
statement corded delivery.

/rekənslieʃ(ə)n stetmənt/ noun a recording /rkɔdŋ/ noun the act of
recording
|
|
statement which explains how two ac- making a note of something 쑗 the record-
counts can be made to agree ing of an order or of a complaint
/rikənstrkʃən/ records /rekɔdz/ plural noun docu-
records
reconstruction
reconstruction
noun 1. the process of building again 쑗 ments which give information 쑗 The
The economic reconstruction of an area names of customers are kept in the com-
after a disaster. 2. new way of organizing pany’s records. 쑗 We find from our
왍 the reconstruction of a company re- records that our invoice number 1234 has
structuring the finances of a company by not been paid.
transferring the assets to a new company recoup /rkup/ verb 왍 to recoup your
recoup
record noun /rekɔd/ 1. a report of losses to get back money which you
record
something which has happened 쑗 The thought you had lost

recourse /rkɔs/ noun a right of a
recourse
chairman signed the minutes as a true |
record of the last meeting. 쑗 She has a lender to compel a borrower to repay
339 redistribute
money borrowed 왍 to decide to have re- dustry in developing environmental re-
course to the courts to obtain money sources)
due to decide in the end to sue someone red /red/ noun the colour of debit or
red
to obtain money owed 왍 without re- overdrawn balances in some bank state-
course words used to show that the en- ments 왍 in the red showing a debit or loss
dorser of a bill (as an agent acting for a 쑗 My bank account is in the red. 쑗 The
principal) is not responsible for paying it company went into the red in 1998. 쑗 The
recover /rkvə/ verb 1. to get back company is out of the red for the first time
recover
something which has been lost 쑗 to re- since 1990.

cover damages from the driver of the car redeem /rdim/ verb 1. to pay off a
redeem
쑗 to start a court action to recover prop- loan or a debt 쑗 to redeem a mortgage 쑗

erty 쑗 He never recovered his money. 쑗 to redeem a debt 2. 왍 to redeem a bond
The initial investment was never recov- to sell a bond for cash
ered. 2. to get better, to rise 쑗 The market redeemable /rdiməb(ə)l/ adjective
redeemable
has not recovered from the rise in oil pric- referring to a bond which can be sold for
es. 쑗 The stock market fell in the morning, cash
but recovered during the afternoon. redemption /rdempʃən/ noun 1. the
redemption
recoverable /rkv(ə)rəb(ə)l/ adjec-

|
repayment of a loan 왍 redemption be-

recoverable
tive possible to get back fore due date paying back a loan before
recovery /rkv(ə)ri/ noun 1. the act
recovery
| the date when repayment is due 2. the re-

of getting back something which has been payment of a debt 쑗 redemption of a
lost 쑗 to start an action for recovery of mortgage
property 쑗 We are aiming for the com- redemption date /rdempʃən det/
redemption date
plete recovery of the money invested. 2. a noun a date on which a loan or debt is due
movement upwards of shares or of the to be repaid
economy 쑗 signs of recovery after a redemption value /rdempʃən
redemption value
slump 쑗 The economy staged a recovery. vlju/ noun a value of a security when
recovery share /rkv(ə)ri ʃeə/
recovery share
|
redeemed
noun a share which is likely to go up in redemption yield /rdempʃən jild/
redemption yield
value because the company’s perform- noun a yield on a security including inter-
ance is improving est and its redemption value
recruit /rkrut/ verb 왍 to recruit new
recruit
redeploy /ridplɔ/ verb to move em-

redeploy
|
|
staff to search for and appoint new staff to ployees from one place to another or from
join a company 쑗 We are recruiting staff one type of job to another 쑗 We closed the
for our new store. 쐽 noun a new member design department and redeployed the
of staff 쑗 The induction programme for workforce in the publicity and sales de-
recruits begins on Wednesday. partments.
recruitment /rkrutmənt/, recruit- redeployment /ridplɔmənt/ noun
recruitment
redeployment
|
ing /rkrutŋ/ noun 왍 the recruitment

|
|
the act of moving employees from one
of new staff the process of looking for place of work to another or from one type
new staff to join a company of job to another
rectification /rektfkeʃ(ə)n/ noun redevelop /ridveləp/ verb to knock
rectification
redevelop
|
|
correction down the buildings on a site, and build

rectify /rektfa/ verb to correct some- new ones
rectify
thing, to make something right 쑗 to recti- redevelopment /ridveləpmənt/

redevelopment
fy an entry (NOTE: rectifies – rectifying noun the action of knocking down of ex-
– rectified) isting buildings to replace them with new
recurrent /rkrənt/ adjective hap- ones 쑗 The redevelopment plan was re-
recurrent
pening again and again 쑗 a recurrent item jected by the planning committee.
of expenditure 쑗 There is a recurrent red goods /red !υdz/ plural noun
red goods
problem in supplying this part. fast-selling convenience goods, especial-

recycle /risak(ə)l/ verb 1. to take ly food items. Compare orange goods,
recycle
waste material and process it so that it can yellow goods

redistribute /ridstrbjut/ verb to
redistribute
be used again 2. to use money in a differ- |
ent way (as by investing profits from in- move items, work or money to different
redistribution of wealth 340

areas or people 쑗 The government aims to ments given to a worker who is being
redistribute wealth by taxing the rich and made redundant
giving grants to the poor. 쑗 The orders redundancy payment /rdndənsi
redundancy payment
have been redistributed among the compemənt/ noun a payment made to an
pany’s factories. employee to compensate for losing his or
redistribution of wealth her job
redistribution of wealth
/ridstrbjuʃən əv welθ/ noun the redundant /rdndənt/ adjective 1.

redundant
process of sharing wealth among the more than is needed, useless 쑗 a redun-
whole population dant clause in a contract 쑗 The new leg-
redraft /ridrɑft/ verb to draft again 쑗 islation has made clause 6 redundant. 쑗
redraft
The whole contract had to be redrafted to Retraining can help employees whose old
take in the objections from the chairman. skills have become redundant. 2. 왍 to
red tape /red tep/ noun official pa-
red tape
make someone redundant to dismiss an
perwork which takes a long time to com- employee who is not needed any more
redundant staff /rdndənt stɑf/
redundant staff
plete 쑗 The start of the new project has |
been held up by extra checks and govern- noun staff who have lost their jobs be-
ment red tape. cause they are not needed any more
re-elect /ri lekt/ verb to elect again
re-elect
reduce /rdjus/ verb 1. to make some-

reduce
|
|
thing smaller or lower 쑗 We must reduce 쑗 he was re-elected chairman

re-election /ri lekʃən/ noun the
re-election
expenditure if we want to stay in business. |
쑗 They have reduced prices in all depart- process of being elected again 왍 she is el-
ments. 쑗 We were expecting the govern- igible to stand for re-election it is possi-
ment to reduce taxes not to increase them. ble for her to be re-elected if she wants
쑗 We have made some staff redundant to re-employ /rimplɔ/ verb to employ
re-employ
reduce overmanning. 쑗 The company re- someone again 쑗 He came back to the
duced output because of a fall in demand. factory hoping to be re-employed.
쑗 The government’s policy is to reduce re-employment /rimplɔmənt/
re-employment
inflation to 5%. 왍 to reduce staff to make noun the act of employing someone again
employees redundant in order to have a re-engage /rin !ed$/ verb to re-em-
re-engage
smaller number of staff 2. to lower the ploy someone, but not necessarily in the
price of something 쑗 Carpets have been same job 왍 to re-engage staff to employ
reduced from £100 to £50. staff again
reduced /rdjust/ adjective lower 쑗 re-engineering /ri end$nərŋ/
reduced
re-engineering
|
|
Reduced prices have increased unit sales. noun a management theory that encour-
쑗 Prices have fallen due to a reduced de- ages the reorganisation of a business by
mand for the goods. taking account of the market value each
reduced rate /rdjust ret/ noun a
reduced rate
| department adds to the products the busi-

specially cheap charge ness produces
reduction /rdkʃən/ noun an act of re-entry /rientri / noun an act of com-
reduction re-entry
|
|
making something smaller or less 쑗 Re- ing back in again

re-entry visa /ri entri vizə/ noun a
re-entry visa
duction in demand has led to the cancel-

lation of several new projects. 쑗 The com- visa which allows someone to leave a
pany was forced to make reductions in its country and go back in again
advertising budget. 쑗 Price reductions re-examination /ri !zmneʃən/
re-examination
| |
have had no effect on our sales. 쑗 Work- noun an act of examining something
ing only part-time will mean a significant which has already been examined before
reduction in take-home pay. re-examine /ri!zmn/ verb to ex-
re-examine
redundancy /rdndənsi/ noun 1. the

redundancy
| amine something again

dismissal of a person whose job no longer re-export /riekspɔt/ noun the ex-
re-export
needs to be done 2. a person who has lost porting of goods which have been import-
a job because they are not needed any ed 쑗 The port is a centre for the re-export
more 쑗 The takeover caused 250 redun- trade. 쑗 We import wool for re-export. 쑗
dancies. The value of re-exports has increased. 쐽
redundancy package /rdndənsi
redundancy package
| verb to export something which has been

pkd$/ noun various benefits and pay- imported
341 refundable
re-exportation /riekspɔteʃ(ə)n/ refinance /rifanns/ verb 1. to re-
re-exportation refinance
| |
noun the exporting of goods which have place one source of finance with another
been imported 2. to extend a loan by exchanging it for a
ref
ref abbr reference new one (normally done when the terms
of the new loan are better)
refer /rf&/ verb 1. to mention, to deal
refer
refinancing /rifannsŋ/ noun 왍

| refinancing
with or to write about something 쑗 refer- |
ring to your letter of June 4th 쑗 We refer refinancing of a loan the act of taking out
to your estimate of May 26th. 쑗 He re- a new loan to pay back a previous loan
ferred to an article which he had seen in ‘…the refinancing consisted of a two-for-
the ‘Times’. 2. to pass a problem on to five rights issue, which took place in Sep-
someone else to decide 쑗 The board has tember this year, to offer 55.8m shares at
decided to refer the question to a commit- 2p and raise about œ925,000 net of ex-
penses’ [Accountancy]
tee. 쑗 We have referred your complaint to
our supplier. 3. 왍 ‘refer to drawer’ refit /rift/ verb to fit out (a shop, facto-
refit
words written on a cheque which a bank ry or office) again 쑗 the shop is being re-
refuses to pay and returns it to the person fitted (NOTE: refitting – refitted)
who wrote it. Abbreviation R or D 왍 the refitting /riftŋ/ noun the process of
refitting
bank referred the cheque to drawer the fitting out (a shop, factory or office) again
bank returned the cheque to person who 쑗 The refitting of the shop is more expen-
wrote it because there was not enough sive than we thought. 쑗 Refitting the con-
money in the account to pay it ference room has disturbed the office rou-
referee /refəri/ noun a person such as tine.
referee
a former employer or teacher who can reflate / riflet/ verb 왍 to reflate the
reflate
give a report on someone’s character, economy to stimulate the economy by in-

ability or job performance 쑗 She gave the creasing the money supply or by reducing
name of her boss as a referee. 쑗 When ap- taxes, often leading to increased inflation
plying please give the names of three ref- 쑗 The government’s attempts to reflate
erees. 쑗 He chose his former headmaster the economy were not successful.
as referee. reflation /rifleʃ(ə)n/ noun an act of
reflation
reference /ref(ə)rəns/ noun 1. the

reference
stimulating the economy by increasing

process of mentioning or dealing with the money supply or by reducing taxes
something 쑗 with reference to your letter reflationary measures
reflationary measures /ri |
of May 25th 2. a series of numbers or let- fleʃ(ə)n(ə)ri meʃəz/ plural noun ac-
ters which make it possible to find a doc- tions which are likely to stimulate the
ument which has been filed 쑗 our refer- economy
ence: PC/MS 1234 쑗 Thank you for your
refresher course /rfreʃə kɔs/ noun
refresher course
letter (reference 1234). 쑗 Please quote |
this reference in all correspondence. 3. a a course of study designed to bring exist-

written report on someone’s character or ing skills or knowledge up to date 쑗 Re-
ability 쑗 to write someone a reference or fresher courses were given to anyone who
to give someone a reference 쑗 to ask ap- had not used this machinery for some
plicants to supply references 왍 to ask a time. 쑗 She went on a refresher course in
company for trade references or for bookkeeping.
refund noun /rifnd/ money paid back
refund
bank references to ask for reports from

traders or a bank on the company’s finan- 쑗 The shoes don’t fit – I’m going to ask
cial status and reputation 4. a person such for a refund. 쑗 She got a refund after com-
as a former employer or teacher who can plaining to the manager. 쐽 verb /rfnd/ |
give a report on someone’s character, to pay back money 쑗 to refund the cost of
ability or job performance 쑗 He gave the postage 쑗 All money will be refunded if
name of his former manager as a refer- the goods are not satisfactory.
ence. 쑗 Please use me as a reference if refundable / rfndəb(ə)l/ adjective
refundable
you wish. possible to pay back 쑗 We ask for a re-

reference site /ref(ə)rəns sat/ noun
reference site
fundable deposit of £20. 쑗 The entrance

a customer site where a new technology is fee is refundable if you purchase £5 worth
being used successfully of goods.
refusal 342
refusal /rfjuz(ə)l/ noun an act of say- a fall in the numbers of unemployed teen-
refusal
ing no 왍 his request met with a refusal agers 쑗 To register a company you must
his request was refused 왍 to give some- pay a fee to Companies House. 쑗 When a
one first refusal of something to allow property is sold, the sale is registered at
someone to be the first to decide if they the Land Registry. 2. to arrive at a hotel or
want something or not at a conference, sign your name and write
refuse /rfjuz/ verb to say that you
refuse
|
your address on a list 쑗 They registered at
will not do something or will not accept the hotel under the name of Macdonald.
something 쑗 they refused to pay 쑗 the 3. to send a letter by registered post 쑗 I
customer refused the goods or refused to registered the letter, because it contained
accept the goods 쑗 The bank refused to some money.
registered /red$stəd/ adjective hav-
registered
lend the company any more money. 쑗 He

asked for a rise but it was refused. 쑗 The ing been noted on an official list 쑗 a reg-
loan was refused by the bank. (NOTE: You istered share transaction
refuse to do something or refuse registered company /red$stəd
registered company
something.) kmp(ə)ni/ noun company which has

regard /r!ɑd/ noun 왍 with regard to been officially set up and registered with
regard
concerning or dealing with 쑗 with regard the Registrar of Companies

to your request for unpaid leave registered letter /red$stəd letə/,
registered letter
regarding /r!ɑdŋ/ preposition con-

regarding
|
registered parcel /red$stəd pɑs(ə)l/
cerning or dealing with 쑗 Instructions re- noun a letter or parcel which is noted by
garding the shipment of goods to Africa. the post office before it is sent, so that the
regardless /r!ɑdləs/ adjective 왍 re- sender can claim compensation if it is lost
regardless
gardless of in spite of 왍 the chairman registered office /red$stəd ɒfs/

registered office
furnished his office regardless of ex- noun the office address of a company
pense without thinking of how much it which is officially registered with the
would cost Companies’ Registrar
regeneration /r!enəreʃ(ə)n/ noun registered post /red$stəd pəυst/
registered post
regeneration
the redevelopment of areas that are in noun a system where a letter or parcel is
economic decline, in order to increase noted by the post office before it is sent,
employment and stimulate new business so that compensation can be claimed if it
activity is lost 쑗 to send documents by registered
region /rid$ən/ noun 1. a large area of
region
mail or registered post 쑗 a registered let-
a country 쑗 Her territory consists of all ter or registered parcel
the eastern region of the country. 2. 왍 in registered trademark /red$stəd
registered trademark
the region of about or approximately 쑗 tredmɑk/ noun a particular name, de-

She was earning a salary in the region of sign, etc. which has been registered by the
£35,000. 쑗 The house was sold for a price manufacturer and which cannot be used
in the region of £300,000. by other manufacturers
regional /rid$(ə)nəl/ adjective refer- register of debentures /red$stə
register of debentures
regional
ring to a region əv dbentjυəz/ noun a list of debenture

|
regional call /rid$(ə)nəl kɔl/ noun a

regional call
holders of a company
register of directors /red$stə əv
register of directors
call to a number within 56km of your own

exchange darektəz/ noun an official list of the di-
|
regional planning /rid$(ə)nəl

regional planning
rectors of a company which has to be sent
plnŋ/ noun the work of planning the to the Registrar of Companies
register of shareholders / red$stə
register of shareholders
industrial development of a region

register /red$stə/ noun 1. an official
register
əv ʃeəhəυldəz/ noun a list of sharehold-
list 쑗 to enter something in a register 쑗 to ers in a company with their addresses
registrar /red$strɑ/ noun a person
registrar
keep a register up to date 쑗 people on the |
register of electors 2. a large book for re- who keeps official records 왍 the regis-
cording details (as in a hotel, where trar of a company the person who keep
guests sign in, or in a registry where the share register of a company
deaths are recorded) 쐽 verb 1. to write Registrar of Companies
Registrar of Companies
something in an official list 쑗 to register /red$strɑ əv kmp(ə)niz/ noun a

343 reimbursement
government official whose duty is to en- government-regulated price a price
sure that companies are properly regis- which is imposed by the government
tered, and that, when registered, they file regulation /re!jυleʃ(ə)n/ noun 1. a
regulation
accounts and other information correctly law or rule 쑗 the new government regula-
registration /red$streʃ(ə)n/ noun
registration
|
tions on housing standards 쑗 Fire regula-
the act of having something noted on an tions or Safety regulations were not ob-
official list 쑗 the registration of a trade- served at the restaurant. 쑗 Regulations
mark or of a share transaction concerning imports and exports are set
registration fee /red$streʃ(ə)n fi/
registration fee
| out in this leaflet. 2. the use of laws or

noun 1. money paid to have something rules stipulated by a government or regu-
registered 2. money paid to attend a con- latory body, such as the Financial Servic-
ference es Authority, to provide orderly proce-
registration number /red$ dures and to protect consumers and inves-
registration number
streʃ(ə)n nmbə/ noun an official tors 쑗 government regulation of trading

number, e.g. the number of a car practices
registry /red$stri/ noun a place where ‘EC regulations which came into effect in
registry
official records are kept July insist that customers can buy cars an-
registry office /red$stri ɒfs/ noun
registry office
ywhere in the EC at the local pre-tax price’
[Financial Times]
an office where records of births, mar-
riages and deaths are kept ‘…a unit trust is established under the reg-
ulations of the Department of Trade, with
regressive taxation /r!resv tk
regressive taxation
| |
a trustee, a management company and a
seʃ(ə)n/ noun a system of taxation in stock of units’ [Investors Chronicle]
which tax gets progressively less as in- ‘…fear of audit regulation, as much as fi-
come rises. Compare progressive taxa- nancial pressures, is a major factor behind
tion the increasing number of small accountan-
regular /re!jυlə/ adjective 1. occur-
regular
cy firms deciding to sell their practices or

ring at the same time each day, each merge with another firm’ [Accountancy]
week, each month or each year 쑗 His reg- regulator /re!jυletə/ noun a person
regulator
ular train is the 12.45. 쑗 The regular whose job it is to see that regulations are
flight to Athens leaves at 06.00. 2. ordi- followed
nary or standard 쑗 The regular price is
$1.25, but we are offering them at 99 ‘…the regulators have sought to protect
investors and other market participants
cents. from the impact of a firm collapsing’
regular customer /re!jυlə
regular customer
[Banking Technology]
kstəmə/ noun a customer who always
regulatory /re!jυlət(ə)ri/ adjective
regulatory
buys from the same shop

applying regulations
regular income /re!jυlər nkm/
regular income
regulatory body /re!jυlət(ə)ri

regulatory body
noun an income which comes in every

week or month 쑗 She works freelance so bɒdi/ noun an independent organisation,
she does not have a regular income. usually established by a government, that
regularly /re!jυləli/ adverb happen-
regularly
makes rules and sets standards for an in-
ing often each day, week, month or year 쑗 dustry and oversees the activities of com-
The first train in the morning is regularly panies within it
regulatory powers /re!jυlət(ə)ri
regulatory powers
late.
regular size / re!jυlə saz/ noun the
regular size
paυəz/ noun powers to enforce govern-
standard size (smaller than economy size ment regulations
reimburse /rimb&s/ verb 왍 to re-
reimburse
or family size) |
regular staff /re!jυlə stɑf/ noun the imburse someone their expenses to pay
regular staff
full-time staff someone back for money which they have

regulate /re!jυlet/ verb 1. to adjust
regulate
spent 쑗 You will be reimbursed for your
something so that it works well or is cor- expenses or Your expenses will be reim-
rect 2. to change or maintain something bursed.
by law 왍 prices are regulated by supply /rimb&smənt/
reimbursement
reimbursement |
and demand prices are increased or low- noun the act of paying back money 쑗 re-
ered according to supply and demand 왍 imbursement of expenses
reimport 344
reimport noun /rimpɔt/ the import- reject noun /rid$ekt/, adjective some-
reimport reject
ing of goods which have been exported thing which has been thrown out because
from the same country 쐽 verb /rim | it is not of the usual standard 쑗 sale of re-
pɔt/ to import goods which have already jects or of reject items 쑗 to sell off reject
been exported stock 쐽 verb /rd$ekt/ to refuse to accept
|
/rimpɔteʃ(ə)n/ something, or to say that something is not

reimportation
reimportation |
noun the importing of goods which have satisfactory 쑗 The board rejected the
already been exported draft budget. 왍 the company rejected
reinstate /rin stet/ verb to allow
reinstate
|
the takeover bid the directors recom-
someone to return to a job from which mended that the shareholders should not
they were dismissed 쑗 The union de- accept the bid
rejection /rd$ekʃən/ noun a refusal
rejection
manded that the sacked workers should |
be reinstated. to accept something, such as a refusal to

reinstatement
reinstatement / rinstetmənt/ |
give a customer credit 쑗 The rejection of
noun 1. the act of putting someone back the company’s offer meant that the nego-
into a job from which they were dis- tiations had to start again. 쑗 After the un-
missed 2. the act of giving a borrower ion’s rejection of the offer, management
back his or her former credit status after came back with new redundancy terms.
reject shop /rid$ekt ʃɒp/ noun a
reject shop
he or she has paid off outstanding debts

reinsurance /rinʃυərəns/ noun in-
reinsurance
|
shop which specialises in the sale of
surance where a second insurer (the rein- goods which have not passed all of their
surer) agrees to cover part of the risk in- producers quality-control tests, but which
sured by the first insurer are still suitable for sale at a reduced price
related /rletd/ adjective connected
related
reinsure /rinʃυə/ verb to spread the

reinsure
|
|
risk of an insurance, by asking another in- or linked 쑗 related items on the agenda
/rletd
related company
surance company to cover part of it and related company |
receive part of the premium kmp(ə)ni/ noun a company in which

reinsurer /rinʃυərə/ noun an insur- another company makes a long-term cap-
reinsurer
ance company which accepts to insure ital investment in order to gain control or
part of the risk for another insurer influence
reinvest /rinvest/ verb to invest relating to /rletŋ tu/ adverb refer-
relating to
reinvest
| |
money again 쑗 She sold her shares and ring to or connected with 쑗 documents re-
reinvested the money in government lating to the agreement
stocks. relational database /rleʃ(ə)n(ə)l
relational database
reinvestment /rinvestmənt/ noun detəbes/ noun a computer database in

reinvestment
1. the act of investing money again in the which different types of data are linked
same securities 2. the act of investing a for analysis
company’s earnings in its own business relations /rleʃ(ə)nz/ plural noun re-
relations
by using them to create new products for lationships with other people, companies
sale or countries 쑗 we maintain good relations
‘…many large US corporations offer with our customers 쑗 we are taking ad-
shareholders the option of reinvesting vantage of improving international rela-
their cash dividend payments in additional tions in that area to expand our exports 쑗
company stock at a discount to the market Relations between the management and
price. But to some big securities firms the workforce have been strained recent-
these discount reinvestment programs are
an opportunity to turn a quick profit’ ly. 쑗 Relations between management and
[Wall Street Journal] workforce have never been good in this
factory. 왍 to break off relations with
reissue /riʃu/ noun an issue of
reissue
|
someone to stop dealing with someone
something again; thing which has been is-
relative /relətv/ adjective compared
relative
sued again 쑗 This is a reissue of the gov-

ernment guidelines first issued in 1995. 쐽 to something else
relative error /relətv erə/ noun the
relative error
verb to issue something again 쑗 The com-

pany reissued its catalogue with a new difference between an estimate and its
price list. correct value
345 remit
relatively /relətvli/ adverb more or ble. 쑗 We have reliable information about
relatively
less 쑗 We have appointed a relatively new our rival’s sales. 쑗 The company makes a
PR firm to handle our publicity. very reliable product.
relaunch /rilɔnʃ/ noun the act of relief /rlif/ noun help
relief
relaunch
putting a product back on the market relief shift /rlif ʃft/ noun a shift
relief shift
again, after adapting it to changing mar- which comes to take the place of another
ket conditions 쑗 The relaunch is sched- shift, usually the shift between the day
uled for August. shift and the night shift
release /rlis/ noun 1. the act of set- relocate /riləυket/ verb to establish
release relocate
| |
ting someone free or of making some- an organisation in a new place, or to be es-

thing or someone no longer subject to an tablished in a new place 쑗 The board de-
obligation or restriction 쑗 release from a cided to relocate the company in Scot-
contract 쑗 the release of goods from cus- land. 쑗 When the company moved its
toms 쑗 She was offered early release so headquarters, 1500 people had to be relo-
that she could take up her new job. 2. the cated. 쑗 If the company moves down
act of making something public, or a pub- south, all the managerial staff will have to
lic announcement 3. the act of putting relocate.
something on the market, or something relocation /riləυkeʃ(ə)n/ noun the
relocation
put on the market 4. 왍 new release a new

|
act of moving to a different place 쑗 We

CD or a piece of software put on the mar- will pay all the staff relocation costs.
ket 쐽 verb 1. to free something or some- rely on phrasal verb to depend on or to
one 쑗 to release goods from customs 쑗 to trust 쑗 The chairman relies on the fi-
release someone from a debt 쑗 Customs nance department for information on
released the goods against payment of a sales. 쑗 We rely on part-time staff for
fine. 2. to end an employee’s contract ear- most of our mail-order business. 쑗 Do
ly 3. to make something public 쑗 The not rely on the agents for accurate mar-
company released information about the ket reports.
new mine in Australia. 쑗 The government remainder /rmendə/ noun things
remainder
has refused to release figures for the left behind 쑗 The remainder of the stock
number of unemployed women. 4. to put will be sold off at half price. 쐽 verb 왍 to
something on the market 쑗 They released remainder books to sell new books off
several new CDs this month. 왍 to release cheaply 쑗 The shop was full of piles of re-
dues to send off orders which had been maindered books.
piling up while a product was out of stock
remainder merchant /rmendə
remainder merchant
‘…pressure to ease monetary policy m&tʃənt/ noun a book dealer who buys
mounted yesterday with the release of a set
of pessimistic economic statistics’ unsold new books from publishers at a
[Financial Times] very low price
remainders /rmendəz/ plural noun
remainders
‘…the national accounts for the March |
quarter released by the Australian Bureau new books sold cheaply

remind /rmand/ verb to make some-
remind
of Statistics showed a real increase in |
GDP’ [Australian Financial Review] one remember 쑗 I must remind my secre-

relevant /reləv(ə)nt/ adjective having tary to book the flight for New York. 쑗 He
relevant
to do with what is being discussed or the reminded the chairman that the meeting
current situation 쑗 Which is the relevant had to finish at 6.30.
government department? 쑗 Can you give reminder /rmandə/ noun a letter to
reminder
me the relevant papers? 쑗 The new assist- remind a customer that he or she has not
ant does not have any relevant experi- paid an invoice 쑗 to send someone a re-
ence. minder
reliability /rlaəblti/ noun the fact remission of taxes /rmʃ(ə)n əv
reliability remission of taxes
| | |
of being reliable 쑗 The product has tksz/ noun a refund of taxes which
passed its reliability tests. have been overpaid
reliable /rlaəb(ə)l/ adjective which remit noun /rimt/ a task which a per-
reliable remit
can be trusted 쑗 We are looking for a reli- son or group is asked to deal with 쑗 The
able bookkeeper to deal with the payroll. new MD was appointed with the remit to
쑗 The sales manager is completely relia- improve the company’s performance. 쐽
remittance 346
verb /rmt/ to send money 쑗 to remit by render /rendə/ verb 왍 to render an ac-
render
cheque (NOTE: remitting – remitted) count to send in an account 쑗 Please find

remittance /rmt(ə)ns/ noun money enclosed payment per account rendered.
remittance
which is sent to pay back a debt or to pay renew /rnju/ verb to continue some-
renew
an invoice 쑗 Please send remittances to thing for a further period of time 쑗 We

the treasurer. 쑗 The family lives on a have asked the bank to renew the bill of
weekly remittance from their father in the exchange. 쑗 The tenant wants to renew
USA. his lease. 쑗 Her contract was renewed for
remnant /remnənt/ noun an odd piece a further three years. 왍 to renew a sub-
remnant
of a large item such as, a carpet or fabric scription to pay a subscription for anoth-
sold separately 쑗 a sale of remnants or a er year 왍 to renew an insurance policy
remnant sale to pay the premium for another year’s in-
remortgage /rimɔ!d$/ verb to
remortgage
|
surance
renewal /rnjuəl/ noun the act of re-
renewal
mortgage a property which is already |
mortgaged 쑗 The bank offered him better newing 쑗 renewal of a lease or of a sub-
terms than the building society, so he description or of a bill 쑗 renewal of a con-
cided to remortgage the house. tract 쑗 Her contract is up for renewal 쑗
removal /rmuv(ə)l/ noun 1. the act of
removal
|
When is the renewal date of the bill? 왍 to
moving to a new house or office 쑗 Staff be up for renewal to be due to be re-
are allowed removal expenses on joining newed 쑗 His contract is up for renewal in
the company. 2. the act of sacking some- January. 쑗 The lease is up for renewal
one (usually a director) from a job 쑗 The next month.
renewal notice /rnjuəl nəυts/
renewal notice
removal of the managing director is going |
to be very difficult. noun a note sent by an insurance compa-

removal company /rmuv(ə)l
removal company
|
ny asking the insured person to renew the
kmp(ə)ni/, removals company /r |
insurance
muv(ə)lz kmp(ə)ni/ noun company /rnjuəl
renewal premium
renewal premium |
which specializes in moving the contents primiəm/ noun a premium to be paid to

of a house or an office to a new building renew an insurance
remove /rmuv/ verb to take some- rent /rent/ noun money paid to use an
remove rent
thing away 쑗 We can remove his name office, house or factory for a period of
from the mailing list. 쑗 The government time 왍 high rent, low rent expensive or
has removed the ban on imports from Ja- cheap rent 쑗 to pay three months’ rent in
pan. 쑗 The minister has removed the em- advance 쑗 Rents are high in the centre of
bargo on the sale of computer equipment. the town. 쑗 We cannot afford to pay High
왍 two directors were removed from the Street rents. 왍 the flat is let at an eco-
board at the AGM two directors were nomic rent at a rent which covers all
dismissed from the board costs to the landlord 왍 nominal rent a
remunerate /rmjunəret/ verb to
remunerate
|
very small rent 쐽 verb 1. to pay money to
pay someone for doing something 쑗 The hire an office, house, factory or piece of
company refused to remunerate them for equipment for a period of time 쑗 to rent
their services. an office or a car 쑗 He rents an office in
the centre of town. 쑗 They were driving a
remuneration /rmjunəreʃ(ə)n/
remuneration
| |
rented car when they were stopped by the
noun payment for services 쑗 The job is police. 2. 왍 to rent (out) to own a car, of-
interesting but the remuneration is low. 쑗 fice, etc., and let someone use it for mon-
She receives a small remuneration of ey 쑗 We rented part of the building to an
£400 a month. 쑗 No one will work hard American company.
for such poor remuneration.
rental /rent(ə)l/ noun money paid to
rental
COMMENT: Remuneration can take sev-

eral forms: e.g. a regular monthly salary use an office, house, factory, car, piece of
cheque, a cheque or cash payment for equipment, etc., for a period of time 쑗
hours worked or for work completed. The car rental bill comes to over £1000 a
remunerative /rmjunərətv/ adjec- quarter.
remunerative
tive referring to a job which pays well 쑗 ‘…top quality office furniture: short or
She is in a highly remunerative job. long-term rental 50% cheaper than any
347 repayment mortgage

other rental company’ ganised 왍 the reorganization of a com-
[Australian Financial Review] pany, a company reorganization re-
‘…until the vast acres of empty office structuring the finances of a company
space start to fill up with rent-paying ten- reorganise /riɔ!ənaz/, reorganize
reorganise
ants, rentals will continue to fall and so verb to organise something in a new way
will values. Despite the very sluggish 쑗 We have reorganised all our reps’ terri-
economic recovery under way, it is still tories.
difficult to see where the new tenants
rep /rep/ (informal ) noun same as repre-
rep
will come from’ [Australian Financial

Review] sentative 쑗 to hold a reps’ meeting 쑗
rental income /rent(ə)l nkm/
rental income
Our reps make on average six calls a day.
쐽 verb same as represent 쑗 He reps for
noun income from letting offices or hous-
es, etc. two firms on commission. (NOTE: repping
– repped)
rent control /rent kəntrəυl/ noun
rent control
repack /ripk/ verb to pack again

| repack
government regulation of rents

|
repacking /ripkŋ/ noun the act of

repacking
rent income /rent nkm/ noun in-

rent income |
packing again
come from letting offices, houses, etc.
repair /rpeə/ noun mending or making
repair
rent tribunal /rent trabjun(ə)l/

rent tribunal |
|
good something which was broken 쑗 to
noun a court which can decide if a rent is carry out repairs to the machinery 쑗 His
too high or low car is in the garage for repair. 쐽 verb to
renunciation /rnnsieʃ(ə)n/ noun
renunciation
| |
mend, to make good something which is
an act of giving up ownership of shares broken 쑗 the photocopier is being re-
reopen /riəυpən/ verb to open again 쑗 paired
reopen
The office will reopen soon after its refit. repairer /rpeərə/, repair man /r
repairer
| |
쑗 The management agreed to reopen dis- peəmən/ noun a person who carries out
cussions with the union. repairs 쑗 The repair man has come to
reopening /riəυp(ə)nŋ/ noun the act mend the photocopier.
reopening
of opening again 쑗 the reopening of the repairing lease /rpeərŋ lis/ noun a
repairing lease
store after refitting lease where the tenant is responsible for

reorder /riɔdə/ noun a further order repairs to the building which he is renting
reorder
repair shop /rpeə ʃɒp/ noun a small

repair shop
for something which has been ordered be- |
fore 쑗 The product has only been on the factory where machines are repaired
market ten days and we are already get- repay /rpe/ verb to pay something
repay
ting reorders. 쐽 verb to place a new order back, or to pay back money to someone 쑗
for something 쑗 We must reorder these to repay money owed 쑗 The company had
items because stock is getting low. to cut back on expenditure in order to re-
reorder level /riɔdə lev(ə)l/ noun a pay its debts. 왍 he repaid me in full he
reorder level
minimum amount of an item which a paid me back all the money he owed me
company holds in stock, such that, when repayable /rpeəb(ə)l/ adjective pos-
repayable
stock falls to this amount, the item must sible to pay back 쑗 loan which is repaya-
be reordered ble over ten years
reorder quantity /riɔdə kwɒntəti/ repayment /rpemənt/ noun the act
reorder quantity repayment
| |
noun a quantity of a product which is re- of paying money back or money which is
ordered, especially the economic order paid back 쑗 The loan is due for repayment
quantity (EOQ) next year. 왍 he fell behind with his mort-
reorganisation /riɔ!əna gage repayments he was late in paying
reorganisation
| |
zeʃ(ə)n/, reorganization noun 1. the back the instalments on his mortgage

repayment mortgage /rpemənt
repayment mortgage
act of organising something in a new way |
쑗 His job was downgraded in the office mɔ!d$/ noun a mortgage where the
reorganisation or in the reorganisation of borrower pays back both interest and cap-
the office. 2. the process of organising a ital over the period of the mortgage. This
company in a different way, as in the USA is opposed to an endowment mortgage,
when a bankrupt company applies to be where only the interest is repaid, and an
treated under Chapter 11 to be protected insurance is taken out to repay the capital
from its creditors while it is being reor- at the end of the term of the mortgage.
repeat 348
repeat /rpit/ verb 1. to do or say chairman has received a report from the
repeat
something again 쑗 He repeated his ad- insurance company. 왍 the treasurer’s re-
dress slowly so that the saleswoman could port a document from the honorary treas-
write it down. 쑗 When asked what the urer of a society to explain the financial
company planned to do, the chairman re- state of the society to its members 2. an
peated ‘Nothing’. 쑗 We’ll have to repeat official document from a government
the survey next year. 2. 왍 to repeat an or- committee 쑗 The government has issued
der to order something again a report on the credit problems of export-
repeat order /rpit ɔdə/ noun a new
repeat order
|
ers. 쑗 They reported for work at the usual
order for something which has been or- time. 쐽 verb 1. to make a statement de-
dered before 쑗 The product has been on scribing something 쑗 The sales force re-
the market only ten days and we are al- ported an increased demand for the prod-
ready flooded with repeat orders. uct. 쑗 He reported the damage to the in-
replace /rples/ verb to put someone
replace
surance company. 쑗 We asked the bank to
report on his financial status. 2. 왍 to re-
|
or something in the place of someone or

something else 쑗 the photocopier needs port to someone to be responsible to or to
replacing 쑗 The cost of replacing dam- be under someone 쑗 She reports direct to
aged stock is very high. 쑗 The company the managing director. 쑗 The sales force
will replace any defective item free of reports to the sales director. 3. to go to a
charge. 쑗 We are replacing all our sala- place or to attend 쑗 She has been asked to
ried staff with freelancers. report for an interview. 쑗 Please report to
replacement /rplesmənt/ noun 1.
replacement
|
our London office for training. 4. to pub-
an item which replaces something 쑗 We lish the results of a company for a period
are out of stock and are waiting for re- and declare the dividend
placements. 2. a person who replaces ‘…a draft report on changes in the in-
someone 쑗 My assistant leaves us next ternational monetary system’ [Wall Street
week, so we are advertising for a replace- Journal]
ment. ‘…responsibilities include the production
replacement cost /rplesmənt
replacement cost
|
of premium quality business reports’
kɒst/ noun the cost of an item to replace [Times]
an existing asset. Also called cost of re- ‘…the research director will manage a
placement team of business analysts monitoring and
reporting on the latest development in re-
replacement value /rplesmənt
replacement value
tail distribution’ [Times]

vlju/ noun the value of something for
insurance purposes if it were to be re- ‘…the successful candidate will report to
placed 쑗 The computer is insured at its the area director for profit responsibility
replacement value. for sales of leading brands’ [Times]
repossess /ripə zes/ verb to take
repossess
reply coupon /rpla kupɒn/ noun a

reply coupon
|
|
form attached to a coupon ad which has to back an item which someone is buying
be filled in and returned to the advertiser under a hire-purchase agreement, or a
reply paid card /rpla ped kɑd/
reply paid card
property which someone is buying under
a mortgage, because the purchaser cannot
|
noun a card or letter to be sent back to the

sender with a reply, the sender having al- continue the payments
repossession /ripəzeʃ(ə)n/ noun
repossession
ready paid for the return postage |
repo noun same as repurchase agree-

repo
an act of repossessing 쑗 Repossessions
ment (informal ) (NOTE: The plural is re- are increasing as people find it difficult to
pos) meet mortgage repayments.
report /rpɔt/ noun 1. a statement de- represent /reprzent/ verb 1. to work
represent
report
| |
scribing what has happened or describing for a company, showing goods or services
a state of affairs 쑗 to make a report or to to possible buyers 쑗 He represents an
present a report or to send in a report on American car firm in Europe. 쑗 Our
market opportunities in the Far East 쑗 French distributor represents several oth-
The accountants are drafting a report on er competing firms. 2. to act on behalf of
salary scales. 쑗 The sales manager reads someone 쑗 He sent his solicitor and ac-
all the reports from the sales team. 쑗 The countant to represent him at the meeting.
349 reschedule
쑗 Three managers represent the work- reputable /repjυtəb(ə)l/ adjective
reputable
force in discussions with the directors. with a good reputation 쑗 we only use rep-
re-present /ri przent/ verb to
re-present
|
utable carriers 쑗 a reputable firm of ac-
present something again 쑗 She re-pre- countants
reputation /repjυteʃ(ə)n/ noun an
reputation
sented the cheque two weeks later to try to |
get payment from the bank. opinion of someone or something held by

representation /reprzenteʃ(ə)n/
representation
|
other people 쑗 company with a reputation
noun 1. the right to sell goods for a com- for quality 쑗 He has a reputation for be-
pany, or a person or organisation that sells ing difficult to negotiate with.
request /rkwest/ noun an act of ask-
request
goods on behalf of a company 쑗 We of- |
fered them exclusive representation in Eu- ing for something 쑗 They put in a request
rope. 쑗 They have no representation in for a government subsidy. 쑗 His request
the USA. 2. the fact of having someone to for a loan was turned down by the bank.
act on your behalf 쑗 The minority share- 왍 on request if asked for 쑗 We will send
holders want representation on the board. samples on request or ‘samples available
쑗 The ordinary shop floor workers want on request’. 쐽 verb to ask for 쑗 to request
representation on the committee. 3. a assistance from the government 쑗 I am
complaint made on behalf of someone 쑗 sending a catalogue as requested.
The managers made representations to require / rkwaə/ verb 1. to ask for or
require
the board on behalf of the hourly-paid to demand something 쑗 to require a full

members of staff. explanation of expenditure 쑗 The law re-
representative /reprzentətv/ ad-
representative
|
quires you to submit all income to the tax
jective which is an example of what all authorities. 2. to need something 쑗 The
others are like 쑗 We displayed a repre- document requires careful study. 쑗 Writ-
sentative selection of our product range. ing the program requires a specialist
쑗 The sample chosen was not representa- knowledge of computers.
requirement /rkwaəmənt/ noun 1.
requirement
tive of the whole batch. 쐽 noun 1. a com- |
pany which works for another company, something which someone wants or
selling their goods 쑗 We have appointed needs 쑗 We hope the items will meet the
Smith & Co our exclusive representatives customer’s requirements. 쑗 If you will
in Europe. 2. a person who acts on some- supply us with a list of your requirements,
one’s behalf 쑗 He sent his solicitor and we shall see if we can meet them. 2. some-
accountant to act as his representatives at thing which is necessary to enable some-
the meeting. 쑗 The board refused to meet thing to be done 쑗 Are computing skills a
the representatives of the workforce. 3. requirement for this job?
same as salesperson requisition /rekwzʃ(ə)n/ noun an
requisition
reprice /ripras/ verb to change the

reprice
|
official order for something 쑗 What is the
price on an item, usually to increase it reference number of your latest requisi-
tion? 쐽 verb to put in an official order for
repudiate /rpjudiet/ verb to refuse
repudiate
|
something or to ask for supplies to be sent
to accept something 왍 to repudiate an 쑗 We have requisitioned three trucks to
agreement to refuse to continue with an move the stock.
agreement
resale /risel/ noun the selling of
resale
repudiation /rpjudieʃ(ə)n/ noun a

repudiation
| |
goods which have been bought 쑗 to pur-
refusal to accept something such as a debt chase something for resale 쑗 The con-
repurchase /rip&tʃs/ verb to buy
repurchase
| tract forbids resale of the goods to the

something again, especially something USA.
which you have recently bought and then resale price maintenance /risel
resale price maintenance
sold pras mentənəns/ noun a system in

repurchase agreement /rip&tʃs which the price for an item is fixed by the
repurchase agreement
ə!rimənt/ noun an agreement, where a

|
manufacturer and the retailer is not al-
bank agrees to buy something and sell it lowed to sell it at a lower price. Abbrevi-
back later (in effect, giving a cash loan to ation RPM
reschedule /riʃedjul/ verb 1. to ar-
reschedule
the seller; this is used especially to raise |
short-term finance) range a new timetable for something 쑗

rescind 350
She missed her plane, and all the meet- research institute / rs&tʃ nst
research institute
| |
ings had to be rescheduled. 2. to arrange tjut/ noun a place which exists only to
new credit terms for the repayment of a carry out research
loan 쑗 Third World countries which are research unit /rs&tʃ junt/ noun a
research unit
unable to keep up the interest payments separate small group of research workers
on their loans from western banks have research worker /rs&tʃ w&kə/
research worker
asked for their loans to be rescheduled. noun a person who works in a research
rescind /rsnd/ verb to annul or to department
rescind
resell /risel/ verb to sell something

resell
cancel something 쑗 to rescind a contract |
or an agreement which has just been bought 쑗 The car was

rescue operation /reskju ɒpə
rescue operation
sold in June and the buyer resold it to an
dealer two months later. (NOTE: reselling
|
reʃ(ə)n/ noun an arrangement by a – resold)

group of people to save a company from
reseller /riselə/ noun somebody in the
reseller
collapse 쑗 The banks planned a rescue |
operation for the company. marketing chain who buys to sell to some-
body else, e.g. wholesalers, distributors,
research /rs&tʃ/ noun the process of
research
|
and retailers
trying to find out facts or information 왍 reservation /rezəveʃ(ə)n/ noun the
reservation
research and development costs the process of booking a seat, table or room 쑗
costs involved in R & D 쐽 verb to study I want to make a reservation on the train
or try to find out information about some- to Plymouth tomorrow evening.
thing 쑗 They are researching the market reserve /rz&v/ noun 1. money from
reserve
for their new product. profits not paid as dividend but kept back
COMMENT: Research costs can be divid- by a company in case it is needed for a
ed into (a) applied research, which is the special purpose 왍 reserve for bad debts
cost of research leading to a specific
aim, and (b) basic, or pure, research,
money kept by a company to cover debts
which is research carried out without a which may not be paid 2. 왍 in reserve
specific aim in mind: these costs are writ- kept to be used at a later date 쑗 to keep
ten off in the year in which they are in- something in reserve 쑗 We are keeping
curred. Development costs are the costs our new product in reserve until the
of making the commercial products launch date. 쐽 verb 왍 to reserve a room,
based on the research. a table, a seat to book a room, table or
research and development /r
research and development
| seat; to ask for a room, table or seat to be

s&tʃ ən dveləpmənt/ noun a scientif-
| kept free for you 쑗 I want to reserve a ta-
ic investigation which leads to making ble for four people. 쑗 Can your secretary
new products or improving existing prod- reserve a seat for me on the train to Glas-
ucts 쑗 The company spends millions on gow?
research and development. Abbreviation COMMENT: The accumulated profits re-
tained by a company usually form its
R&D most important reserve.
COMMENT: Research costs can be divid-
reserve currency /rz&v krənsi/
reserve currency
ed into (a) applied research, which is the

cost of research leading to a specific noun a strong currency used in interna-
aim, and (b) basic, or pure, research, tional finance, held by other countries to
which is research carried out without a support their own weaker currencies
specific aim in mind: these costs are writ- reserved market /rz&vd mɑkt/
reserved market
ten off in the year in which they are in- noun a market in which producers agree
curred. Development costs are the costs not to sell more than a specific amount in
of making the commercial products
based on the research.
order to control competition. Also called
restricted market
research department /rs&tʃ d
research department
reserve fund /rz&v fnd/ noun

reserve fund
| |
pɑtmənt/ noun the section of a compa-

|
profits in a business which have not been

ny which carries out research paid out as dividend but have been
researcher /rs&tʃə/ noun a person
researcher
| ploughed back into the business

who carries out research 쑗 Government reserve price /rz&v pras/ noun the
reserve price
statistics are a useful source of informa- lowest price which a seller will accept,
tion for the desk researcher. e.g. at an auction or when selling securi-
351 responsibility
ties through a broker 쑗 The painting was carried or adopted a resolution to go on
withdrawn when it failed to reach its re- strike. 쑗 The meeting rejected the resolu-
serve price. tion or The resolution was defeated by ten
reserves /rz&vz/ plural noun sup- votes to twenty. 쑗 A resolution was passed
reserves
plies kept in case of need 쑗 Our reserves to raise salaries by six per cent.
of fuel fell during the winter. 쑗 The coun- COMMENT: There are three types or reso-
try’s reserves of gas or gas reserves are lution which can be put to an AGM: the
‘ordinary resolution’, usually referring to
very large. some general procedural matter, and
residence /rezd(ə)ns/ noun 1. a
residence
which requires a simple majority of

house or flat where someone lives 쑗 He votes; and the ‘extraordinary resolution’
has a country residence where he spends and ‘special resolution’, such as a reso-
his weekends. 2. the fact of living or oper- lution to change a company’s articles of
association in some way, both of which
ating officially in a country need 75% of the votes before they can
residence permit /rezd(ə)ns
residence permit
be carried.
p&mt/ noun an official document al- resolve /rzɒlv/ verb to decide to do
resolve
lowing a foreigner to live in a country 쑗 something 쑗 The meeting resolved that a

He has applied for a residence permit. 쑗 dividend should not be paid.
She was granted a residence permit for
productivity /rzɔs
resource productivity
one year or a one-year residence permit. resource |
prɒdktvti/ noun an approach to pro-

resident /rezd(ə)nt/ noun, adjective
resident |
duction that is concerned to increase the

a person or company considered to be liv- productivity of resources in order to re-
ing or operating in a country for official or duce waste and preserve the environment
tax purposes 쑗 The company is resident in
resources /rsɔsz/ plural noun 1. a
resources
France. |
residual /rzdjuəl/ adjective remain-

residual
|
supply of something 왍 we are looking
ing after everything else has gone for a site with good water resources a
site with plenty of water available 2. the
residue /rezdju/ noun money left
residue
money available for doing something 왍

over 쑗 After paying various bequests the the cost of the new project is easily
residue of his estate was split between his within our resources we have quite
children. enough money to pay for the new project
resign /rzan/ verb to give up a job 쑗
resign
respect /rspekt/ noun 왍 with respect

respect
|
He resigned from his post as treasurer. 쑗

|
to concerning 쐽 verb to pay attention to 쑗

He has resigned with effect from July 1st. to respect a clause in an agreement 쑗 The
쑗 She resigned as finance director.
company has not respected the terms of
resignation /rez!neʃ(ə)n/ noun the
resignation
|
the contract.
act of giving up a job 쑗 He wrote his letter
respectively /rspektvli/ adverb re-
respectively
of resignation to the chairman. 왍 to hand |
in or to give in or to send in your resig- ferring to each one separately 쑗 Mr Smith

nation to resign from your job and Mr Jones are respectively MD and
Sales Director of Smith Ltd.
resist /rzst/ verb to fight against
resist
response /rspɒns/ noun a reply or re-

| response
something, not to give in to something 쑗 |
The chairman resisted all attempts to action 쑗 There was no response to our
make him resign. 쑗 The company is resist- mailing shot. 쑗 We got very little response
ing the takeover bid. to our complaints.
resistance /rzstəns/ noun opposi- response rate /rspɒns ret/ noun
response rate
resistance
|
|
tion felt or shown by people to something the proportion of people who respond to a
쑗 There was a lot of resistance from the questionnaire or survey
team to the new plan. 쑗 The chairman’s responsibility /rspɒnsblti/ noun
responsibility
| |
proposal met with strong resistance from the fact of being responsible 쑗 There is no
the banks. 쑗 There was a lot of resistance responsibility on the company’s part for
from the shareholders to the new plan. loss of customers’ property. 쑗 The man-
resolution /rezəluʃ(ə)n/ noun a de-
resolution
| agement accepts no responsibility for loss

cision to be reached at a meeting 왍 to put of goods in storage. 쑗 The manager has
a resolution to a meeting to ask a meet- overall responsibility for the welfare of
ing to vote on a proposal 쑗 The meeting the staff in her department.
responsible 352
responsible /rspɒnsb(ə)l/ adjective be given freely or imports to enter the
responsible
1. 왍 responsible to someone being under country freely

someone’s authority 쑗 She is directly re- restrictive /rstrktv/ adjective not
restrictive
sponsible to the managing director. 왍 re- allowing something to go beyond a point,

sponsible for directing or being in charge limiting
of doing a certain job 쑗 He is responsible restrictive trade practices /r
restrictive trade practices
for all sales. 쑗 He is responsible for the strktv tred prktsz/, restrictive
staff in his department. 2. (person) who is practices /rstrktv prktss/ plural
sensible or who can be trusted 왍 a re-
|
noun an arrangement between companies

sponsible job job where important deci- to fix prices or to share the market in or-
sions have to be taken or where the em- der to restrict trade
ployee has many responsibilities 쑗 He is restructure /ristrktʃə/ verb to reor-
restructure
looking for a responsible job in market- ganise the financial basis of a company
ing.
restructuring /ristrktʃərŋ/ noun
restructuring
rest /rest/ noun what is left 쑗 The chair-

rest |
the process of reorganising the financial

man went home, but the rest of the direc- basis of a company
tors stayed in the boardroom. 쑗 We sold
result /rzlt/ noun 1. a profit or loss
result
most of the stock before Christmas and |
hope to clear the rest in a sale. 쑗 The rest account for a company at the end of a
of the money is invested in gilts. trading period 쑗 The company’s results
for last year were an improvement on
restitution /resttjuʃ(ə)n/ noun 1.
restitution
|
those of the previous year. 2. something
the act of giving back property 쑗 The which happens because of something else
court ordered the restitution of assets to 쑗 What was the result of the price investi-
the company. 2. compensation or pay- gation? 쑗 The company doubled its sales
ment for damage or loss force with the result that the sales rose by
restock /ristɒk/ verb to order more 26%. 왍 the expansion programme has
restock
stock 쑗 to restock after the Christmas produced results has produced increased
sales sales 쐽 verb 1. 왍 to result from to hap-
restocking /ristɒkŋ/ noun the order- pen because of 쑗 We have to fill several
restocking
ing of more stock vacancies resulting from the recent inter-

restraint /rstrent/ noun control
restraint
|
nal promotions 2. 왍 to result in to pro-
restraint of trade /rstrent əv
restraint of trade
duce as a result 쑗 The doubling of the
|
sales force resulted in increased sales. 쑗

tred/ noun 1. a situation where employ- The extra orders resulted in overtime
ees are not allowed to use their knowl- work for all the factory staff.
edge in another company on changing
jobs 2. an attempt by companies to fix ‘…the company has received the backing
of a number of oil companies who are will-
prices, create monopolies or reduce coming to pay for the results of the survey’
petition, which could affect free trade [Lloyd’s List]
restrict /rstrkt/ verb to limit some-
restrict
|
‘…some profit-taking was noted, but un-
thing or to impose controls on something derlying sentiment remained firm in a
쑗 to restrict credit 쑗 to restrict the flow of steady stream of strong corporate results’
trade or to restrict imports 쑗 We are re- [Financial Times]
stricted to twenty staff by the size of our result-driven /rzlt drv(ə)n/ ad-
result-driven
offices. 왍 to sell into a restricted market

|
jective used to describe a strategy or or-

to sell goods into a market where the sup- ganisation that focuses mainly on results
plier has agreed to limit sales to avoid and achievements rather than on improv-
competition ing procedures (NOTE: A result-driven or-
restricted market /rstrktd
restricted market
| ganisation concentrates on achieving its

mɑkt/ noun same as reserved market aims, and delivering products at the re-
restriction /rstrkʃən/ noun a limit or quired time, cost, and quality, and con-
restriction
control 쑗 import restrictions or restric- siders performance to be more impor-

tions on imports 왍 to impose restrictions tant than procedures.)
resume /rzjum/ verb to start again 쑗
resume
on imports or credit to start limiting im- |
ports or credit 왍 to lift credit restrictions The discussions resumed after a two hour
or import restrictions to allow credit to break.
353 retirement age

résumé /rezjume/, resume /r sion against bad debts. 2. 왍 to retain a
résumé
| |
zjum/ noun US a summary of a per- lawyer to act for a company to agree

son’s work experience and qualifications with a lawyer that he or she will act for
sent to a prospective employer by some- you (and pay him or her a fee in advance)
one applying for a job (NOTE: The UK retained earnings /rtend &nŋz/
retained earnings
term is curriculum vitae.) plural noun an amount of profit after tax

resumption /rzmpʃən/ noun an act
resumption
| which a company does not pay out as div-

of starting again 왍 we expect an early re- idend to the shareholders, but which is
sumption of negotiations we expect ne- kept to be used for the further develop-
gotiations will start again soon ment of the business. Also called reten-
retail / ritel/ noun the sale of small tions
retail
quantities of goods to the general public 왍 retained income /rtend nkm/,

retained income
the goods in stock have a retail value of retained profit /rtend prɒft/ noun |
£1m the value of the goods if sold to the same as retained earnings
public is £1m, before discounts and other retainer /rtenə/ noun money paid in
retainer
factors are taken into account 쐽 adverb 왍

|
advance to someone so that they will

he buys wholesale and sells retail he work for you, and not for someone else 쑗
buys goods in bulk at a wholesale dis- We pay them a retainer of £1,000.
count and sells in small quantities to the retention /rtenʃən/ noun the process
retention
public 쐽 verb 1. 왍 to retail goods to sell

|
of keeping the loyalty of existing employ-

goods direct to the public 2. to sell for a ees and persuading them not to work for
price 왍 these items retail at or for £2.50 another company
the retail price of these items is £2.50
‘…a systematic approach to human re-
retail dealer /ritel dilə/ noun a per-
retail dealer
source planning can play a significant part

son who sells to the general public in reducing recruitment and retention
retailer /ritelə/ noun a person who
retailer
problems’ [Personnel Management]

runs a retail business, selling goods direct retentions /rtenʃənz/ plural noun
retentions
to the public same as retained earnings

retailing /ritelŋ/ noun the selling of
retailing
retiral /rtaərəl/ noun US same as re-

retiral
full-price goods to the public 쑗 From car tirement

retailing the company branched out into
retire /rtaə/ verb 1. to stop work and
retire
car leasing. |
take a pension 쑗 She retired with a

retail outlet /ritel aυt(ə)let/ noun a
retail outlet
£15,000 pension. 쑗 The founder of the

shop which sells to the general public company retired at the age of 85. 쑗 The
retail price /ritel pras/ noun the
retail price
shop is owned by a retired policeman. 2.

price at which the retailer sells to the final to make an employee stop work and take
customer a pension 쑗 They decided to retire all staff
retail price index /ritel pras
retail price index
over 50. 3. to come to the end of an elect-

ndeks/, retail prices index /ritel ed term of office 쑗 The treasurer retires
prasz ndeks/ noun an index which from the council after six years. 쑗 Two re-
shows how prices of consumer goods tiring directors offer themselves for re-
have increased or decreased over a period election.
of time. Abbreviation RPI retiree /rtaəri/ noun a person who
retiree
| |
COMMENT: In the UK, the RPI is calculat-

ed on a group of essential goods and
has retired or is about to retire
retirement /rtaəmənt/ noun 1. the
retirement
services; it includes both VAT and mort- |
gage interest; the US equivalent is the act of retiring from work 쑗 I am looking
Consumer Price Index. forward to my retirement. 쑗 Older staff
retail shop /ritel ʃɒp/ noun a shop
retail shop
are planning what they will do in retire-

which sells goods to the general public ment. 왍 to take early retirement to retire
retail trade /ritel tred/ noun all from work before the usual age 2. the pe-
retail trade
people or businesses selling goods retail riod when a person is retired

retain /rten/ verb 1. to keep some- retirement age /rtaəmənt ed$/
retain retirement age
| |
thing or someone 쑗 measures to retain ex- noun the age at which people retire. In the
perienced staff 쑗 Out of the profits, the UK this is usually 65 for men and 60 (but
company has retained £50,000 as provi- soon to become 65) for women.
retirement pension 354

retirement pension /rtaəmənt turn on this line? 4. an official statement
retirement pension
penʃən/ noun a state pension given to a or form that has to be sent in to the author-
man who is over 65 or and woman who is ities 왍 to make a return to the tax office,
over 60 to make an income tax return to send a
retrain /ritren/ verb to train someone
retrain
|
statement of income to the tax office 왍 to
for a new job, or to do the same job in a fill in a VAT return to complete the form
more efficient way 쑗 She went back to showing VAT receipts and expenditure 쐽
college to be retrained. verb 1. to send back 쑗 to return unsold
retraining /ritrenŋ/ noun the act of
retraining stock to the wholesaler 쑗 to return a letter
to sender 2. to make a statement 쑗 to re-
|
training again 쑗 The shop is closed for

staff retraining. 쑗 He had to attend a return income of £15,000 to the tax author-
ities
training session. 쑗 Retraining is neces-
sary to keep up with new production ‘…with interest rates running well above
inflation, investors want something that
methods. offers a return for their money’
retrench /rtrentʃ/ verb to reduce ex-
retrench
|
[Business Week]
penditure or to shelve expansion plans be- ‘Section 363 of the Companies Act 1985
cause money is not available requires companies to deliver an annual
retrenchment /rtrentʃmənt/ noun a
retrenchment
| return to the Companies Registration Of-

reduction of expenditure or of new plans fice. Failure to do so before the end of the
쑗 The company is in for a period of re- period of 28 days after the company’s re-
trenchment. turn date could lead to directors and other
retrieval /rtriv(ə)l/ noun the act of
retrieval
|
officers in default being fined up to £2000’
[Accountancy]
getting something back
returnable /rt&nəb(ə)l/ adjective
returnable
retrieval system /rtriv(ə)l sstəm/

retrieval system |
|
which can be returned 쑗 These bottles are
noun a system which allows information
not returnable.
to be retrieved
return address /rt&n ədres/ noun
return address
retrieve /rtriv/ verb 1. to get back

retrieve | |
|
the address to which you send back some-
(something) which has been lost 쑗 The thing
company is fighting to retrieve its market
returner /rt&nə/ noun a person who
returner
share. 2. to get back (information) which |
is stored in a computer 쑗 All of the infor- goes back to work after being away for a
mation was accidentally wiped off the time
return journey /rt&n d$&ni/ noun
return journey
computer so we cannot retrieve our sales |
figures for the last month. a journey back to where you came from
return on assets /rt&n ɒn sets/,
return on assets
retroactive /retrəυktv/ adjective

retroactive
|
return on capital employed /rt&n ɒn

|
which takes effect from a time in the past |
쑗 They got a pay rise retroactive to last ekwti/, return on equity noun a profit
January. shown as a percentage of the capital or
‘The salary increases, retroactive from money invested in a business. Abbrevia-
April of the current year, reflect the mar- tion ROA, ROCE, ROE
return on capital employed /rt&n
return on capital employed
ginal rise in private sector salaries’ |
[Nikkei Weekly] ɒn kpt(ə)l mplɔd /, return on as- |
retroactively /retrəυktvli/ adverb

retroactively
|
sets /rt&n ɒn sets/, return on eq-
|
going back to a time in the past uity /rt&n ɒn ekwti/ noun a profit
|
return /rt&n/ noun 1. the act of going

return
|
shown as a percentage of the capital or
back or coming back 2. the act of sending money invested in a business. Abbrevia-
something back 왍 he replied by return tion ROCE, ROA, ROE
return on investment /rt&n ɒn n
return on investment
of post he replied by the next post service | |
back 왍 these goods are all on sale or re- vestmənt/ noun a ratio of the profit
turn if the retailer does not sell them, he made in a financial year as a percentage of
sends them back to the supplier, and pays an investment. Abbreviation ROI
returns /rt&nz/ plural noun 1. profits
returns
only for the items sold 3. a profit or in- |
come from money invested 쑗 We are buy- or income from investment 쑗 The compa-
ing technology shares because they bring ny is looking for quick returns on its in-
in a quick return. 쑗 What is the gross re- vestment. 2. unsold goods, especially
355 revolving credit

books, newspapers or magazines, sent which has been taken over ends up own-
back to the supplier ing the company which has taken it over.
return ticket /rt&n tkt/ noun a The acquiring company’s shareholders
return ticket
ticket for a journey to a place and back give up their shares in exchange for shares
again 쑗 I want two returns to Edinburgh. in the target company.
revaluation /rivljυeʃən/ noun 1. reversion /rv&ʃ(ə)n/ noun a return of
revaluation reversion
| | |
an act of revaluing 쑗 The balance sheet property to an original owner 왍 he has

takes into account the revaluation of the the reversion of the estate he will re-
company’s properties. 2. the increasing of ceive the estate when the present lease
the value of a currency 쑗 The revaluation ends
of the dollar against the euro. reversionary /rv&ʃ(ə)n(ə)ri/ adjec-
reversionary
revalue /rivlju/ verb to value some-

revalue
|
tive referring to property which passes to
thing again, usually setting a higher value another owner on the death of the present
on it than before 쑗 The company’s prop- one
erties have been revalued. 쑗 The dollar reversionary annuity
reversionary annuity /r

has been revalued against all world cur-
|
v&ʃ(ə)n(ə)ri ənjuti/ noun an annuity

rencies.
|
paid to someone on the death of another

revenue /revənju/ noun 1. money re-
revenue
person
ceived 쑗 revenue from advertising or ad-
review /rvju/ noun 1. a general exam-
review
vertising revenue 쑗 Oil revenues have ris- |
en with the rise in the dollar. 2. money re- ination 쑗 to conduct a review of distribu-
ceived by a government in tax tors 왍 she had a salary review last April
her salary was examined (and increased)
revenue accounts /revənju ə
revenue accounts
in April 쑗 The company has decided to

|
kaυnts/ plural noun accounts of a busi- review freelance payments in the light of
ness which record money received as the rising cost of living. 2. a magazine,
sales, commission, etc. monthly or weekly journal 쑗 We read it in
revenue model /revənju mɒd(ə)l/
revenue model
last month’s international business re-

noun a description of any of the methods view. 쐽 verb to examine something gener-
by which an organisation obtains income ally 왍 to review salaries to look at all sal-
revenue officer /revənju ɒfsə/
revenue officer
aries in a company to decide on increases

noun a person working in the government 쑗 His salary will be reviewed at the end of
tax offices the year. 왍 to review discounts to look at
revenue stream /revənju strim/ discounts offered to decide whether to
revenue stream
noun the income obtained by an organisa- change them

tion from a particular source or activity revise /rvaz/ verb to change some-
revise
reversal /rv&s(ə)l/ noun a change

reversal
|
thing which has been calculated or
from being profitable to unprofitable 쑗 planned 쑗 Sales forecasts are revised an-
The company suffered a reversal in the nually. 쑗 The chairman is revising his
Far East. speech to the AGM.
reverse /rv&s/ adjective opposite or
reverse
revival of trade / rvav(ə)l əv tred/

revival of trade
|
|
in the opposite direction 쐽 verb 1. to noun an increase in trade after a recession

change a decision to the opposite 쑗 The
revive /rvav/ verb to make more live-
revive
committee reversed its decision on import |
quotas. 2. 왍 to reverse the charges to ly; to increase (after a recession) 쑗 The

make a phone call, asking the person re- government is introducing measures to
ceiving it to pay for it revive trade. 쑗 Industry is reviving after
‘…the trade balance sank $17 billion, re-
the recession.
revoke /rvəυk/ verb to cancel some-
revoke
versing last fall’s brief improvement’ |
[Fortune] thing 쑗 to revoke a decision or a clause in

reverse charge call /rv&s tʃɑd$ an agreement 쑗 The quota on luxury
reverse charge call
kɔl/ noun a telephone call where the items has been revoked.
person receiving the call agrees to pay for revolving credit /rvɒlvŋ kredt/
revolving credit
it noun a system where someone can bor-

reverse takeover /rv&s tekəυvə/
reverse takeover
| row money at any time up to an agreed

noun a takeover where the company amount, and continue to borrow while
reward 356
still paying off the original loan. Also right of way /rat əv we/ noun a le-
right of way
called open-ended credit gal title to go across someone’s property

reward /rwɔd / verb to give a person rights issue /rats ʃu/ noun an ar-
reward rights issue
something in return for effort or achieve- rangement which gives shareholders the
ment 쑗 The work is hard and not very re- right to buy more shares at a lower price
warding financially. (NOTE: The US term is rights offering.)
right-sizing /rat sazŋ/ noun the
right-sizing
‘…an additional incentive is that the Japa-

nese are prepared to give rewards where process of reducing a company’s work-
they are due’ [Management Today] force to its most economical size, usually
reward package /rwɔd pkd$/
reward package
| by dismissing some of its employees

noun the total of all money and benefits right to strike /rat tə strak/ noun a
right to strike
given to an employee (including salary, legal right of employees to stop working

bonuses, company car, pension plans, if they have a good reason for it
medical insurance, etc.) ring /rŋ/ noun 1. a group of people who
ring
rich /rtʃ/ adjective 1. having a lot of

rich
try to fix prices so as not to compete with

money 쑗 a rich stockbroker 쑗 a rich oil each other and still make a large profit 2.
company 2. having a lot of natural re- a trading floor on a commodity exchange
sources 쑗 The country is rich in minerals. ring back phrasal verb to telephone in
쑗 The oil-rich territory has attracted sev- reply to a phone call 쑗 The managing
eral international companies. director rang – can you ring him back?
-rich /rtʃ/ suffix meaning ‘which con- rise /raz/ noun 1. an increase 쑗 A rise
-rich rise
tains or has a large amount of something’ in the price of raw materials. 쑗 Oil price
rid /rd/ 왍 to get rid of something to rises brought about a recession in world
rid
throw something away because it is use- trade. 쑗 There has been a rise in sales of
less 쑗 The company is trying to get rid of 10% or Sales show a rise of 10%. 쑗 Sala-
all its old stock. 쑗 Our department has ries are increasing to keep up with the ris-
been told to get rid of twenty staff. 쑗 The es in the cost of living. 쑗 The recent rise
department has been told to get rid of in interest rates has made mortgages
twenty staff. dearer. 쑗 There needs to be an increase in
salaries to keep up with the rise in the cost
rider / radə/ noun an additional clause
rider
of living. 2. an increase in pay 쑗 She

쑗 to add a rider to a contract
asked her boss for a rise. 쑗 He had a 6%
rig /r!/ verb to arrange illegally or dis-
rig
rise in January. (NOTE: The US term is

honestly for a result to be changed 쑗 They raise.) 쐽 verb to move upwards or to be-
tried to rig the election of officers. 왍 to come higher 쑗 Prices or Salaries are ris-
rig the market to make share prices go ing faster than inflation. 쑗 Interest rates
up or down so as to make a profit have risen to 15%. 쑗 Salaries are rising
right /rat/ noun a legal entitlement to
right
faster than inflation. (NOTE: rising –

something 쑗 There is no automatic right rose – risen)
of renewal to this contract. 쑗 She has a ‘…the index of industrial production sank
right to the property. 쑗 He has no right to 0.2 per cent for the latest month after ris-
the patent. 쑗 The staff have a right to ing 0.3 per cent in March’
know how the company is doing. [Financial Times]
rightful / ratf(ə)l/ adjective legally ‘…the stock rose to over $20 a share, high-
rightful
correct er than the $18 bid’ [Fortune]

‘…customers’ deposit and current ac-
/ratf(ə)l
rightful claimant
rightful claimant counts also rose to $655.31 million at the

klemənt/ noun a person who has a legal end of December’ [Hongkong Standard]
claim to something (NOTE: This term has ‘…the government reported that produc-
now replaced plaintiff. The other side in tion in the nation’s factories and mines
a case is the defendant.) rose 0.2% in September’ [Sunday Times]
rightful owner /ratf(ə)l əυnə/ noun
rightful owner
risk /rsk/ noun 1. possible harm or a

risk
a legal owner chance of danger 왍 to run a risk to be

right-hand man /rat hnd mn/ likely to suffer harm 왍 to take a risk to do
right-hand man
noun a man who is the main assistant to something which may make you lose
someone money or suffer harm 2. 왍 at owner’s
357 rolling account

risk a situation where goods shipped or ‘…while the bank has scaled back some of
stored are insured by the owner, not by the its more risky trading operations, it has re-
transport company or the storage compa- tained its status as a top-rate advisory
ny 쑗 Goods left here are at owner’s risk. house’ [Times]
rival /rav(ə)l/ noun a person or compa-
rival
쑗 The shipment was sent at owner’s risk.

3. loss or damage against which you are ny that competes in the same market 쑗 a
insured 4. 왍 he is a good or bad risk it is rival company 쑗 to undercut a rival
not likely or it is very likely that the insur- road haulage /rəυd hɔld$/ noun
road haulage
ance company will have to pay out against the moving of goods by road
claims where he is concerned road haulage depot /rəυd hɔld$
road haulage depot
‘…remember, risk isn’t volatility. Risk is depəυ/ noun a centre for goods which
the chance that a company’s earnings are being moved by road, and the lorries
power will erode – either because of a which carry them
change in the industry or a change in the
road haulier /rəυd hɔliə/ noun a
road haulier
business that will make the company sig-

nificantly less profitable in the long term’ company which transports goods by road
robot /rəυbɒt/ noun a machine which
robot
[Fortune]
risk arbitrage /rsk ɑbtrɑ$/ noun
risk arbitrage
can be programmed to work like a person
the business of buying shares in compa- 쑗 The car is made by robots.
ROCE abbr return on capital employed
ROCE
nies which are likely to be taken over and

so rise in price rock /rɒk/ noun 왍 the company is on
rock
risk assessment /rsk əsesmənt/

risk assessment
|
the rocks the company is in great finan-
noun the process of working out how cial difficulties
rock bottom /rɒk bɒtəm/ noun 왍
rock bottom
risky any particular course of action may

be. Risk assessments are important in ar- sales have reached rock bottom sales
eas such as health and safety and environ- have reached the lowest point possible
mental management, in which safety can ‘…investment companies took the view
sometimes be improved, but can also be that secondhand prices had reached rock
used to estimate economic and social risk bottom and that levels could only go up’
and play a part in strategic planning. [Lloyd’s List]
rocket /rɒkt/ verb to rise fast 쑗 Inves-
rocket
risk-averse /rsk əv&s/ adjective not

risk-averse
wanting to take risks tors are rushing to cash in on rocketing

share prices. 쑗 Prices have rocketed on
risk capital /rsk kpt(ə)l/ noun
risk capital
the commodity markets.

same as venture capital
ROI abbr return on investment
ROI
risk factor /rsk fktə/ noun the

risk factor
roll /rəυl/ noun something which has

roll
amount of risk involved in carrying out a been turned over and over to wrap round
project or other business activity itself 쑗 The desk calculator uses a roll of
risk-free /rsk fri/, riskless
risk-free
paper. 쑗 We need to order some more

/rskləs/ adjective with no risk involved rolls of fax paper. 쐽 verb to make some-
쑗 a risk-free investment thing go forward by turning it over or
‘…there is no risk-free way of taking reg- pushing it on wheels 쑗 They rolled the
ular income from your money higher than computer into position.
the rate of inflation and still preserving its roll over phrasal verb 왍 to roll over a
value’ [Guardian] credit to make credit available over a
‘…many small investors have also pre- continuing period
ferred to put their spare cash with risk-free ‘…at the IMF in Washington, officials are
investments such as building societies worried that Japanese and US banks might
rather than take chances on the stock mar- decline to roll over the principal of loans
ket. The returns on a host of risk-free in- made in the 1980s to Southeast Asian and
vestments have been well into double fig- other developing countries’ [Far Eastern
ures’ [Money Observer] Economic Review]
risky /rski/ adjective dangerous or rolling account /rəυlŋ əkaυnt/
risky rolling account
which may cause harm 쑗 We lost all our noun US a system where there are no
money in some risky ventures in South fixed account days, but stock exchange
America. transactions are paid at a fixed period af-
rolling budget 358

ter each transaction has taken place, as rotation /rəυteʃ(ə)n/ noun the act of
rotation
opposed to the British system, where an taking turns 왍 to fill the post of chair-
account day is fixed each month man by rotation to let each member of
rolling budget /rəυlŋ bd$t/ noun
rolling budget
the group act as chairman for a period

a budget which moves forward on a regu- then give the post to another member 왍
lar basis, such as a budget covering a two directors retire by rotation two di-
twelve-month period which moves for- rectors retire because they have been di-
ward each month or quarter rectors longer than any others, but can of-
rolling launch /rəυlŋ lɔntʃ/ noun a
rolling launch
fer themselves for re-election
rouble /rub(ə)l/ noun a unit of curren-
rouble
gradual launch of a new product onto the

market by launching it in different areas cy used in Russia and Belarus (NOTE: The
over a period US spelling is ruble.)
rolling plan /rəυlŋ pln/ noun a
rolling plan
rough /rf/ adjective 1. approximate,

rough
plan which runs for a period of time and not very accurate 2. not finished
is updated regularly for the same period rough out phrasal verb to make a draft
rolling settlement /rəυlŋ
rolling settlement
or a general design of something, which

set(ə)lmənt/ noun US same as rolling may be changed later 쑗 The finance di-
account rector roughed out a plan of investment.
rolling stock /rəυlŋ stɒk/ noun wag-
rolling stock
rough calculation /rf klkjυ

rough calculation
ons, etc., used on the railway leʃ(ə)n/ noun a way of working out a
roll on/roll off (RORO) /rəυl ɒn
roll on/roll off
mathematical problem approximately, or

rəυl ɒf/ adjective (ferry) where lorries the approximate result arrived at 쑗 I made
and cars can drive straight into or off the some rough calculations on the back of an
boat envelope.
rollout /rəυlaυt/ noun same as rolling rough copy /rf kɒpi/ noun a draft of
rollout rough copy
launch a document which, it is expected, will

ROM /rɒm/ abbr read only memory have changes made to it
ROM
room /rum/ noun 1. a part of a building, rough draft /rf drɑft/ noun a plan
room rough draft
divided off from other parts by walls 쑗 of a document which may have changes
The chairman’s room is at the end of the made to it before it is complete
corridor. 2. a bedroom in a hotel 쑗 I want roughly /rfli/ adverb more or less 쑗
roughly
a room with bath for two nights. 3. a space The turnover is roughly twice last year’s.
쑗 The filing cabinets take up a lot of 쑗 The development cost of the project will
room. 쑗 There is no more room in the be roughly £25,000.
computer file.
round noun a series (of meetings) 쑗 a
room divider /rum dvadə/ noun a
room divider
|
round of pay negotiations 쐽 phrasal
moveable low wall, which can be used to verb to make a fractional figure a full
make a ‘room’ in an open-plan office figure, by increasing or decreasing it 쑗
room reservations /rum rezə
room reservations
| Some figures have been rounded to the

veʃ(ə)ns/ noun a department in a hotel nearest cent.
which deals with bookings for rooms 쑗 round down phrasal verb to decrease a
Can you put me through to reservations? fractional figure to the nearest full fig-
room service /rum s&vs/ noun ar- ure
room service
rangement in a hotel where food or drink round up phrasal verb to increase a

can be served in a guest’s bedroom fractional figure to the nearest full fig-
rootless capitalism /rutləs ure 쑗 to round up the figures to the
rootless capitalism
kpt(ə)lz(ə)m/ noun capitalism that is nearest pound

not restricted to one particular country or ‘…each cheque can be made out for the lo-
economy cal equivalent of œ100 rounded up to a
rota /rəυtə/, roster /rɒstə/ noun a list
rota
convenient figure’ [Sunday Times]
round trip /raυnd trp/ noun a journey
round trip
showing when different members of staff

will do certain duties 쑗 We are drawing from one place to another and back again
up a new roster for Saturday afternoon 쑗 she bought a round-trip ticket 쑗 The
work. round-trip fare is twice the single fare.
359 run
route /rut/ noun a way which is regu- ruling /rulŋ/ adjective in operation at
route ruling
larly taken 쑗 Companies were warned the moment, current 쑗 We will invoice at
that normal shipping routes were danger- ruling prices. 쐽 noun a decision 쑗 The in-
ous because of the war. quiry gave a ruling on the case. 쑗 Accord-
router /rutd/ noun a device that ing to the ruling of the court, the contract
router
switches telephone calls to another net- was illegal.

work that may offer cheaper rates run /rn/ noun 1. a period of time during
run
routine /rutin/ noun a normal or reg- which a machine is working 왍 a cheque

routine
ular way of doing something 쑗 He follows run a series of cheques processed through
a daily routine – he takes the 8.15 train to a computer 2. a rush to buy something 쑗
London, then the bus to his office, and re- The Post Office reported a run on the new
turns by the same route in the evening. 쑗 stamps. 왍 a run on the bank a rush by
Refitting the conference room has dis- customers to take deposits out of a bank
turbed the office routine. 쐽 adjective nor- which they think may close down 왍 a run
mal or which happens regularly 쑗 routine on the pound a rush to sell pounds and
work 쑗 a routine call 쑗 They carried out buy other currencies 3. a regular route (of
a routine check of the fire equipment. a plane or bus) 쑗 He flies the London-New
royalty /rɔəlti/ noun money paid to an York run. 쐽 verb 1. to be in force 쑗 The
royalty
inventor, writer or the owner of land for lease runs for twenty years. 쑗 The lease
the right to use their property, usually a has only six months to run. 2. to amount
specific percentage of sales, or a specific to 쑗 The costs ran into thousands of
amount per sale 쑗 The country will bene- pounds. 3. to manage or to organise
fit from rising oil royalties. 쑗 He is still something 쑗 She runs a mail-order busi-
receiving substantial royalties from his ness from home. 쑗 They run a staff sports
invention. club. 쑗 He is running a multimillion-
RPI abbr retail price index
RPI
pound company. (NOTE: running – ran –
run) 4. to work on a machine 쑗 Do not
RPM abbr resale price maintenance
RPM
run the photocopier for more than four

RRP abbr recommended retail price
RRP
hours at a time. 쑗 The computer was run-

RSVP letters on an invitation asking the
RSVP
ning invoices all night. 5. (of buses,

person invited to reply. Full form répon- trains, etc.) to be working 쑗 this train
dez s’il vous plaît runs on weekdays 쑗 There is an evening
rule /rul/ noun 1. a statement that di-
rule
plane running between Manchester and

rects how people should behave 쑗 It is a Paris. (NOTE: running – ran – has run)
company rule that smoking is not allowed 쐽 1. to be in a particular state or to be tak-
in the offices. 쑗 The rules of the organisa- ing place in a particular way 쑗 The meet-
tion are explained during the induction ing was running late. 2. to continue or to
sessions. 왍 as a rule usually 쑗 As a rule, last 쑗 The lease runs for twenty years. 쑗
we do not give discounts over 20%. 2. 왍 The lease has only six months to run.
to work to rule to work strictly according (NOTE: running – ran – has run)
to the rules agreed by the company and ‘…applications for mortgages are running
union, and therefore to work very slowly at a high level’ [Times]
쐽 verb 1. to give an official decision 쑗 ‘…with interest rates running well above
The commission of inquiry ruled that the inflation, investors want something that
company was in breach of contract. 쑗 The offers a return for their money’ [Business
judge ruled that the documents had to be Week]
deposited with the court. 2. to be in force run down phrasal verb 1. to reduce a
or to be current 쑗 Prices which are ruling quantity gradually 쑗 We decided to run
at the moment. 쑗 The current ruling down stocks or to let stocks run down at
agreement is being redrafted. the end of the financial year. 2. to slow
rulebook /rulbυk/ noun a set of rules
rulebook
down the business activities of a compa-

by which the members of a self-regulato- ny before it is going to be closed 쑗 The
ry organisation must operate company is being run down.
rule of thumb /rul əv θm/ noun an run into phrasal verb 1. 왍 to run into
rule of thumb
easily remembered way of doing a simple debt to start to have debts 2. to amount
calculation to 쑗 Costs have run into thousands of
runaway inflation 360

pounds. 왍 he has an income running running total /rnŋ təυt(ə)l/ noun
running total
into five figures he earns more than the total carried from one column of fig-
£10,000 ures to the next
run out of phrasal verb to have nothing rupee /rupi/ noun a unit of currency
rupee
left of something, to use up all the stock used in India, Mauritius, Nepal, Pakistan
of something 쑗 We have run out of and Sri Lanka (NOTE: Written Rs before
headed notepaper. 쑗 The printer has the figure: Rs. 250.)
run out of paper.
rush /rʃ/ noun doing something rapidly
rush
run up phrasal verb to make debts or

costs go up quickly 쑗 He quickly ran up 쐽 verb to make something go fast 쑗 to
a bill for £250. rush an order through the factory 쑗 to
rush a shipment to Africa
runaway inflation /rnəwe n
runaway inflation
rush hour /rʃ aυə/ noun the time

|
rush hour
fleʃ(ə)n/ noun very rapid inflation,

which is almost impossible to reduce when traffic is worst, when everyone is
running /rnŋ/ noun 왍 the company
running
trying to travel to work or from work back
has made a profit for six years running home 쑗 The taxi was delayed in the rush
the company has made a profit for six hour traffic.
rush job / rʃ d$ɒb/ noun a job which
rush job
years one after the other

running costs / rnŋ kɒsts/ plural has to be done fast
running costs
rush order /rʃ ɔdə/ noun an order

rush order
noun money spent on the day-to-day cost

of keeping a business going which has to be supplied fast
S
sack /sk/ noun 왍 to get the sack to be ments in a safe place in a place where
sack
dismissed from a job 쐽 verb to dismiss they cannot be stolen or destroyed

someone from a job 쑗 He was sacked af- safe deposit / sef dpɒzt/ noun a
safe deposit
ter being late for work. bank safe where you can leave jewellery
sackful /skfυl/ noun a large amount, or documents
sackful
the contents of a sack 쑗 We got sackfuls of safe deposit box /sef dpɒzt
safe deposit box
replies to our TV ad. bɒks/ noun a small box which you can
sacking / skŋ/ noun a dismissal from rent to keep jewellery or documents in a
sacking
a job 쑗 The union protested against the bank’s safe

safeguard /sef!ɑd/ verb to protect
safeguard
sackings.
s.a.e.
s.a.e. abbr stamped addressed envelope something or someone 쑗 The duty of the
쑗 Send your application form to the per- directors is to safeguard the interests of
sonnel officer, with an s.a.e. for reply. the shareholders. 쐽 noun something that
safe / sef/ noun a heavy metal box
safe
provides protection
safe investment /sef nvestmənt/
safe investment
which cannot be opened easily, in which |
valuable documents and money can be noun something, e.g. a share, which is not
kept 쑗 Put the documents in the safe. 쑗 likely to fall in value
We keep the petty cash in the safe. 쐽 ad- safe keeping /sef kipŋ/ noun the
safe keeping
jective out of danger 왍 keep the docu- fact of being looked after carefully 쑗 We
361 sales
put the documents into the bank for safe salary scale /sləri skel/ noun same
salary scale
keeping. as pay scale 쑗 He was appointed at the

safely /sefli/ adverb without being top end of the salary scale.
safely
harmed 쑗 The cargo was unloaded safely salary structure /sləri strktʃə/
salary structure
from the sinking ship. noun the organisation of salaries in a

safety /sefti/ noun 1. the fact of being company with different rates of pay for
safety
free from danger or risk 왍 to take safety different types of job

precautions or safety measures to act to ‘…the union of hotel and personal service
make sure something is safe 2. 왍 for safe- workers has demanded a new salary struc-
ty to make something safe, to be safe 쑗 to ture and uniform conditions of service for
take a copy of the disk for safety 쑗 Put the workers in the hotel and catering industry’
documents in the cupboard for safety. [Business Times (Lagos)]
safety margin /sefti mɑd$n/ noun sale /sel/ noun 1. an act of giving an
sale
safety margin
a time or space allowed to make sure that item or doing a service in exchange for
something can be done safely money, or for the promise that money will
safety measures /sefti me$əz/
safety measures
be paid 왍 for sale ready to be sold 왍 to of-
plural noun actions to make sure that fer something for sale or to put some-
something is safe thing up for sale to announce that some-
thing is ready to be sold 쑗 They put the
safety precautions /sefti pr
safety precautions
factory up for sale. 쑗 His shop is for sale.

kɔʃ(ə)nz/ plural noun actions to try to 쑗 These items are not for sale to the gen-
make sure that something is safe eral public. 왍 sale or return a system
safety regulations /sefti re!jυ
safety regulations
|
where the retailer sends goods back if
leʃ(ə)nz/ plural noun rules to make a they are not sold, and pays the supplier
place of work safe for the employees only for goods sold 쑗 We have taken
salaried /slərid/ adjective earning a 4,000 items on sale or return. 왍 on sale
salaried
salary 쑗 The company has 250 salaried ready to be sold in a shop 쑗 These items
staff. are on sale in most chemists. 2. an act of
salary /sləri/ noun 1. a regular pay- selling goods at specially low prices 쑗
salary
ment for work done, made to an employee The shop is having a sale to clear old
usually as a cheque at the end of each stock. 쑗 The sale price is 50% of the usual
month 쑗 The company froze all salaries price.
for a six-month period. 쑗 If I get promot- ‘…the latest car sales for April show a 1.8
ed, my salary will go up. 쑗 The salary per cent dip from last year’s total’
may be low, but the fringe benefits at- [Investors Chronicle]
tached to the job are good. 쑗 She got a saleability /seləblti/, salability
saleability
salary increase in June. 2. an amount paid noun a quality in an item which makes it
to an employee, shown as a monthly, easy to sell
quarterly or yearly total (NOTE: The plural saleable /seləb(ə)l/, salable adjec-
saleable
is salaries.) tive which can easily be sold 쑗 The com-

salary cheque /sləri tʃek/ noun a
salary cheque
pany is not readily saleable in its present

monthly cheque by which an employee is state.
paid sale and lease-back /sel ən lis
sale and lease-back
salary cut /sləri kt/ noun a sudden bk/ noun a situation where a company
salary cut
reduction in salary sells a property to raise cash and then

salary deductions /sləri d leases it back from the purchaser
salary deductions
dkʃənz/ plural noun money which a saleroom /selrum/ noun a room

saleroom
company removes from salaries to pay to where an auction takes place

the government as tax, National Insur- sales /selz/ plural noun 1. money re-
sales
ance contributions, etc. ceived for selling something 쑗 Sales have

salary package /sləri pkd$/
salary package
risen over the first quarter. 2. items sold,

noun same as pay package or the number of items sold 3. 왍 the sales
salary review /sləri rvju/ noun
salary review
| period when major stores sell many items

same as pay review 쑗 She had a salary at specially low prices 쑗 I bought this in
review last April or Her salary was re- the sales or at the sales or in the January
viewed last April. sales.
sales analysis 362

sales analysis /selz ənləss/ sales forecast /selz fɔkɑst/ noun
sales analysis sales forecast
noun an examination of the reports of an estimate of future sales

sales to see why items have or have not sales invoice /selz nvɔs/ noun an
sales invoice
sold well invoice relating to a sale

sales appeal /selz əpil/ noun a
sales appeal
sales journal /selz d$&n(ə)l/ noun

sales journal
|
quality in a product which makes custom- the book in which non-cash sales are re-
ers want to buy it corded with details of customer, invoice,
sales book /selz bυk/ noun a record
sales book
amount and date. These details are later

of sales posted to each customer’s account in the
sales budget /selz bd$t/ noun a
sales budget
sales ledger.
plan of probable sales sales ledger /selz led$ə/ noun a
sales ledger
sales campaign /selz kmpen/

sales campaign
| book in which sales to each customer are

noun a series of planned activities to entered
achieve higher sales sales ledger clerk /selz led$ə
sales ledger clerk
sales channel /selz tʃn(ə)l/ noun klɑk/ noun an office employee who
sales channel
any means by which products can be deals with the sales ledger
brought into the marketplace and offered sales literature /selz lt(ə)rətʃə/
sales literature
for sale, either directly to the customer or noun printed information which helps
indirectly through retailers or dealers sales, e.g. leaflets or prospectuses
sales chart /selz tʃɑt/ noun a dia-
sales chart
sales manager /selz mnd$ə/

sales manager
gram showing how sales vary from month

noun a person in charge of a sales depart-
to month
ment
sales clerk /selz klɑk/ noun US a
sales clerk
salesmanship /selzmənʃp/ noun

salesmanship
person who sells goods to customers in a

store the art of selling or of persuading custom-
‘…the wage agreement includes sales
ers to buy
sales mix /selz mks/ noun the sales
sales mix
clerks and commission sales people in

stores in Toronto’ [Toronto Star] and profitability of a wide range of prod-
sales conference
sales conference
/selz ucts sold by a single company

kɒnf(ə)rəns/ noun a meeting of sales sales outlet /selz aυt(ə)let/ noun a
sales outlet
managers, representatives, publicity staff, shop which sells to the general public
etc., to discuss results and future sales salesperson / selzp&s(ə)n/ noun 1.
salesperson
plans a person who sells goods or services to

sales curve /selz k&v/ noun a graph
sales curve
members of the public 2. a person who

showing how sales increase or decrease sells products or services to retail shops
sales day book /selz de bυk/ on behalf of a company (NOTE: The plural
sales day book
noun a book in which non-cash sales are is salespeople.)

recorded with details of customer, in- sales pitch /selz ptʃ/ noun a talk by
sales pitch
voice, amount and date; these details are a salesperson to persuade someone to buy
later posted to each customer’s account in sales report /selz rpɔt/ noun a re-
sales report
the sales ledger. Abbreviation SDB port made showing the number of items
sales department /selz d
sales department
|
or amount of money received for selling
pɑtmənt/ noun the section of a compa- stock 쑗 In the sales reports all the Euro-
ny which deals with selling the compa- pean countries are bracketed together.
ny’s products or services sales representative /selz repr
sales representative
sales drive /selz drav/ noun a vigor-

|
sales drive
zentətv/, sales rep /selz rep/ noun

ous effort to increase sales same as salesperson 쑗 We have six
sales executive /selz !zekjυtv/
sales executive
|
sales representatives in Europe. 쑗 They
noun a person in a company or depart- have vacancies for sales representatives
ment in charge of sales to call on accounts in the north of the
sales figures /selz f!əz/ plural country.
sales figures
noun total sales sales return /selz rt&n/ noun a re-

sales return
sales force /selz fɔs/ noun a group

sales force
port of sales made each day or week or

of sales staff quarter
363 sanction
sales revenue /selz revənju/ noun ‘…previously, only orders received by 11
sales revenue
US the income from sales of goods or a.m. via the Internet could be delivered the
services (NOTE: The UK term is turno- same day, and then only for a limited
ver.) range of items. With fast packaging and
inspection, same-day delivery is now pos-
sales sheet /selz ʃit/ noun paper
sales sheet
sible anywhere in Tokyo’ [Nikkei Weekly]

which gives details of a product and ex-
same-store sales /sem stɔ selz/
same-store sales
plains why it is good

noun sales for the same stores over an
sales slip /selz slp/ noun a paper
sales slip
earlier period
showing that an article was bought at a ‘…it led the nation’s department stores
specific shop 쑗 Goods can be exchanged over the crucial Christmas season with an
only on production of a sales slip. 11.7% increase in same-store sales’ [For-
sales target /selz tɑ!t/ noun the
sales target
tune]
amount of sales a sales representative is ‘…its consistent double-digit same-store
expected to achieve sales growth also proves that it is not just
sales tax /selz tks/ noun a tax adding revenue by adding new locations’
sales tax
which is paid on each item sold and is col- [Fortune]

sample /sɑmpəl/ noun 1. a small part
sample
lected when the purchase is made. Also

called turnover tax of an item which is used to show what the
sales team /selz tim/ noun all repre-
sales team
whole item is like 쑗 Can you provide us
sentatives, sales staff and sales managers with a sample of the cloth or a cloth sam-
working in a company ple? 2. a small group which is studied in
order to show what a larger group is like
sales volume /selz vɒljum/ noun
sales volume
쑗 We interviewed a sample of potential

the number of units sold (NOTE: The UK customers. 쐽 verb 1. to test or to try
term is turnover.)
something by taking a small amount of it
saleswoman /selzwυmən/ noun 1. a
saleswoman
쑗 to sample a product before buying it 2.

woman who sells an organisation’s prod- to ask a representative group of people
ucts or services to customers 2. a woman questions to find out what the reactions of
in a shop who sells goods to customers a much larger group would be 쑗 They
(NOTE: The plural is saleswomen.) sampled 2,000 people at random to test
salvage /slvd$/ noun 1. the work of
salvage
the new drink.

saving a ship or a cargo from being de- sample book /sɑmpəl bυk/ noun a
sample book
stroyed 2. goods saved from a wrecked book showing samples of different types
ship, from a fire or from some other acci- of cloth, paper, etc.
dent 쑗 a sale of flood salvage items sampling /sɑmplŋ/ noun 1. the test-
sampling
(NOTE: no plural) 쐽 verb 1. to save goods

ing of a product by taking a small amount
or a ship from being destroyed 쑗 We are 쑗 a sampling of European Union produce
selling off a warehouse full of salvaged 2. the testing of the reactions of a small
goods. 2. to save something from loss 쑗
The company is trying to salvage its rep- group of people to find out the reactions
of a larger group of consumers
utation after the managing director was
sampling error /sɑmplŋ erə/ noun
sampling error
sent to prison for fraud. 쑗 The receiver

managed to salvage something from the the difference between the results
collapse of the company. achieved in a survey using a small sample
salvage money /slvd$ mni/
salvage money
and what the results would be if you used
noun payment made by the owner of a
the entire population
sanction /sŋkʃən/ noun permission
sanction
ship or a cargo to the person who has

saved it 쑗 You will need the sanction of the local
authorities before you can knock down
salvage value / slvd$ vlju/
salvage value
noun the value of an asset if sold for scrap

the office block. 쐽 verb to approve 쑗 The
board sanctioned the expenditure of
salvage vessel /slvd$ ves(ə)l/
salvage vessel
£1.2m on the development project.

noun a ship which specialises in saving ‘…members of the new Association of
other ships and their cargoes Coffee Producing Countries voted to cut
same /sem/ adjective being or looking
same
their exports by 20 per cent to try to raise

exactly alike prices. The Association voted also on
S&L 364
ways to enforce the agreement and to im- save /sev/ verb 1. to keep, not to spend
save
plement sanctions if it is breached’ (money) 쑗 He is trying to save money by

[Times] walking to work. 쑗 She is saving to buy a
S&L
S&L abbr savings and loan house. 2. not to waste, to use less 쑗 To
sandwich board /sndwtʃ bɔd/
sandwich board
save time, let us continue the discussion
noun a pair of boards with advertisements in the taxi to the airport. 쑗 The govern-
on them that is suspended from shoulder ment is encouraging companies to save
straps in front of and behind the person energy. 3. to store data on a computer disk
wearing them 쑗 Don’t forget to save your files when you
have finished keyboarding them.
sandwich course /sndwd$ kɔs/
sandwich course
save on phrasal verb not to waste, to

noun a course of study where students at use less 쑗 By introducing shift work we
a college or institute spend a period of find we can save on fuel.
time working in a factory, office or other save up phrasal verb to put money
organisation as part of gaining their qual- aside for a special purpose 쑗 They are
ification saving up for a holiday in the USA.
sandwich lease /sndwd$ lis/
sandwich lease
save-as-you-earn /sev əz ju &n/

save-as-you-earn
noun US a lease held by someone who noun a scheme where employees can save
sublets the property he is leasing money regularly by having it deducted
sandwich man /sndwd$ mn/
sandwich man
automatically from their wages and in-

noun a man who carries a sandwich board vested in National Savings. Abbreviation
satisfaction /stsfkʃən/ noun a
satisfaction
|
SAYE
saver /sevə/ noun a person who saves
saver
good feeling of happiness and content-

ment 쑗 He finds great satisfaction in the money
job even though the pay is bad. saving /sevŋ/ noun the action of us-
saving
satisfy /stsfa/ verb 1. to give satis- ing less 쑗 We are aiming for a 10% saving
satisfy
faction or to please (NOTE: satisfies – in fuel. 쑗 The new heating system has pro-
satisfying – satisfied) 왍 to satisfy a cli- duced remarkable savings in fuel. 쐽 suffix
ent to make a client pleased with what which uses less
they have purchased 왍 a satisfied cus- savings /sevŋz/ plural noun money
savings
tomer a customer who has got what they saved (i.e. money which is not spent) 쑗
wanted 2. to fill the requirements for a job She put all her savings into a deposit ac-
(NOTE: satisfies – satisfying – satis- count.
fied) 왍 to satisfy a demand to fill a de- savings account /sevŋz əkaυnt/
savings account
mand 쑗 We cannot produce enough to noun an account where you put money in
satisfy the demand for the product. regularly and which pays interest, often at
saturate /stʃəret/ verb to fill some-
saturate
a higher rate than a deposit account

thing completely 쑗 They are planning to savings and loan /sevŋz ən ləυn /,
savings and loan
saturate the market with cheap mobile savings and loan association
phones. 쑗 The market for home comput- /sevŋz ən ləυn əsəυsieʃ(ə)n/ noun
|
ers is saturated. US a financial association which accepts

saturation /stʃəreʃ(ə)n/ noun the
saturation
| and pays interest on deposits from inves-

process of filling completely 왍 satura- tors and lends money to people who are
tion of the market, market saturation a buying property. The loans are in the form
situation where the market has taken as of mortgages on the security of the prop-
much of the product as it can buy 왍 the erty being bought. S&Ls are regulated by
market has reached saturation point the Office of Thrift Supervision and are
the market is at a point where it cannot protected by the Savings Association In-
buy any more of the product surance Fund. Abbreviation S&L. Also
saturation advertising /stʃə
saturation advertising
|
called thrift (NOTE: The UK term is
reʃ(ə)n dvətazŋ/ noun a highly in- building society.)
COMMENT: Because of deregulation of in-
tensive advertising campaign 쑗 Satura- terest rates in 1980, many S&Ls found
tion advertising is needed when there are that they were forced to raise interest on
large numbers of rival products on the deposits to current market rates in order
market. to secure funds, while at the same time
365 schedule
they still were charging low fixed-interest ‘…frauds have always been perpetrated,
rates on the mortgages granted to bor- but the growth of the capital markets in the
rowers. This created considerable prob- last 30 years has led to an explosion in
lems and many S&Ls had to be rescued trading scandals’ [Times]
by the Federal government.
scarce /skeəs/ adjective not easily
scarce
savings bank /sevŋz bŋk/ noun a

savings bank
found or not common 쑗 scarce raw mate-

bank where you can deposit money and rials 쑗 Reliable trained staff are scarce.
receive interest on it scarceness /skeəsnəs/, scarcity
scarceness
savings certificate /sevŋz sə

savings certificate
|
/skeəsti/ noun the state of being scarce
tfkət/ noun a document showing that 쑗 There is a scarcity of trained staff.
you have invested money in a government scarcity value /skeəsti vlju/
scarcity value
savings scheme (NOTE: The US term is noun the value something has because it
savings bond.) is rare and there is a large demand for it
SAYE
SAYE abbr save-as-you-earn scenario /snɑriəυ/ noun the way in

scenario
scale /skel/ noun 1. a system which is which a situation may develop, or a de-
scale
graded into various levels 왍 scale of scription or forecast of possible future de-
charges or scale of prices a list showing velopments
various prices 왍 scale of salaries a list of ‘…on the upside scenario, the outlook is
salaries showing different levels of pay in reasonably optimistic, bankers say, the
different jobs in the same company 2. 왍 to worst scenario being that a scheme of ar-
start in business on a small scale to start rangement cannot be achieved, resulting in
in business with a small staff, few prod- liquidation’ [Irish Times]
schedule /ʃedjul/ noun 1. a timeta-
schedule
ucts or little capital

COMMENT: If a share issue is oversub- ble, a plan of how time should be spent,
scribed, applications may be scaled drawn up in advance 쑗 The managing di-
down; by doing this, the small investor is rector has a busy schedule of appoint-
protected. So, in a typical case, all appli- ments. 쑗 Her assistant tried to fit us into
cations for 1,000 shares may receive her schedule. 왍 on schedule at the time or
300; all applications for 2,000 shares
may receive 500; applications for 5,000 stage set down in the schedule 쑗 The
shares receive 1,000, and applications launch took place on schedule. 왍 to be
for more than 5,000 shares will go into a ahead of schedule to be early 쑗 The
ballot. building was completed ahead of sched-
scale down phrasal verb to lower ule. 왍 to be on schedule to be on time 쑗
something in proportion The project is on schedule. 쑗 We are on
COMMENT: If a share issue is oversub- schedule to complete the project at the
scribed, applications may be scaled end of May. 왍 to be behind schedule to
down; by doing this, the small investor is be late 쑗 I am sorry to say that we are
protected. So, in a typical case, all appli-
cations for 1,000 shares may receive three months behind schedule. 2. a list,
300; all applications for 2,000 shares especially a list forming an additional
may receive 500; applications for 5,000 document attached to a contract 쑗 the
shares receive 1,000, and applications schedule of territories to which a contract
for more than 5,000 shares will go into a applies 쑗 Please find enclosed our sched-
ballot. ule of charges. 쑗 See the attached sched-
scale up phrasal verb to increase ule or as per the attached schedule. 3. a
something in proportion list of interest rates 4. a form relating to a
scales /skelz/ noun a machine for
scales
particular kind of income liable for UK

weighing income tax 5. details of the items covered
scam /skm/ noun a fraud, an illegal or
scam
by an insurance, sent with the policy 쐽
dishonest scheme (informal) 쑗 Many fi- verb 1. to list officially 쑗 We offer a 10%
nancial scams only come to light by acci- reduction on scheduled prices or sched-
dent. uled charges to selected customers. 2. to
plan the time when something will hap-
scandal /sknd(ə)l/ noun a wrong ac-
scandal
pen 쑗 The building is scheduled for com-

tion that produces a general feeling of pletion in May.
public anger 쑗 The government was COMMENT: The current British tax sched-
brought down by the scandal over the ules are: Schedule A: rental income
slush funds. from land and buildings; Schedule C: in-
scheduled 366
come from government stock; Schedule which has no value 쑗 to sell a ship for
D: profits of trade, profession, interest, scrap 2. pieces of metal to be melted
etc., but not from employment; Sched- down to make new metal ingots 쐽 verb 1.
ule E: income from salaries, wages, etc.,
from employment and pensions Sched- to give up, to stop working on 쑗 We
ule F: dividends from UK companies. scrapped all our plans for expansion. 2.
(Schedule B was formerly income from to throw (something) away as useless 쑗
woodland). They had to scrap 10,000 spare parts.
scheduled /ʃed$uld/ adjective listed (NOTE: scrapping – scrapped)
scheduled
in a separate schedule scrap dealer /skrp dilə/ noun a

scrap dealer
scheduled flight /ʃed$uld flat/

scheduled flight
person who deals in scrap

noun a regular flight which is in the air- scrap value /skrp vlju/ noun the
scrap value
line timetable 쑗 He left for Helsinki on a value of an asset if sold for scrap 쑗 Its
scheduled flight. scrap value is £2,500.
scheduling /ʃedjulŋ/ noun the proc-
scheduling
screen /skrin / noun 1. a glass surface

screen
ess of drawing up a plan or a timetable on which computer information or TV

scheme /skim/ noun a plan, arrange-
scheme
pictures can be shown 쑗 She brought up

ment or way of working 쑗 Under the bo- the information on the screen. 쑗 I’ll just
nus scheme all employees get 10% of call up details of your account on the
their annual pay as a Christmas bonus. 쑗 screen. 2. a flat panel which acts as a form
She has joined the company pension of protection 쐽 verb to examine some-
scheme. 쑗 We operate a profit-sharing thing carefully to evaluate or assess it 왍 to
scheme for managers. 쑗 The new pay- screen candidates to examine candidates
ment scheme is based on reward for indi- to see if they are completely suitable
vidual effort. screen-based activity
screen-based activity /skrin

scheme of arrangement /skim əv besd ktvti/ noun a task that has to
scheme of arrangement
ərend$mənt/ noun a scheme drawn up

|
be done using a computer
by an individual or company to offer ways screening /skrinŋ/ noun 왍 the
screening
of paying debts, so as to avoid bankruptcy screening of candidates the examining

proceedings. Also called voluntary ar- of candidates to see if they are suitable
rangement
screensaver /skrinsevə / noun a
screensaver
science /saəns/ noun study or knowl-

science
|
edge based on observing and testing program that shows moving images on
the screen when a computer is not being
science park /saəns pɑk/ noun an
science park
used, because a static image can damage

area near a town or university set aside for the monitor by burning itself into the
technological industries phosphor coating on the inside of the
scientific research /saəntfk r
scientific research
| |
screen
s&tʃ/ noun study to try to find out infor- scrip /skrp/ noun a security, e.g. a
scrip
mation 쑗 He is engaged in research into share, bond, or the certificate issued to

the packaging of the new product line. 쑗 show that someone has been allotted a
The company is carrying out research share or bond
into finding a medicine to cure colds.
‘…under the rule, brokers who fail to de-
scope /skəυp/ noun an opportunity or
scope
liver stock within four days of a transac-

possibility 쑗 There is considerable scope tion are to be fined 1% of the transaction
for expansion into the export market. 왍 value for each day of missing scrip’
there is scope for improvement in our [Far Eastern Economic Review]
sales performance the sales performance scrip issue /skrp ʃu/ noun an issue
scrip issue
could be improved of shares whereby a company transfers

scorched earth policy / skɔtʃt &θ
scorched earth policy
money from reserves to share capital and

pɒlsi/ noun a way of combating a take- issues free extra shares to the sharehold-
over bid, where the target company sells ers. The value of the company remains the
valuable assets or purchases unattractive same, and the total market value of share-
assets. 쒁 poison pill holders’ shares remains the same, the
scrap /skrp/ noun 1. material left over
scrap
market price being adjusted to account for

after an industrial process, and which still the new shares. Also called free issue,
has some value, as opposed to waste, capitalisation issue
367 secondary action

scripophily /skrpɒfli/ noun the seasonal /siz(ə)n(ə)l/
scripophily seasonal
| adjective
practice of collecting old share certifi- which lasts for a season or which only
cates and bond certificates as a hobby and happens during a particular season 쑗 sea-
investment sonal variations in sales patterns 쑗 The
SDB abbr sales day book
SDB
demand for this item is very seasonal.
seasonal adjustment /siz(ə)n(ə)l
seasonal adjustment
seal /sil/ noun 1. a special symbol, of-

seal
ten one stamped on a piece of wax, which əd$stmənt/ noun a change made to
|
is used to show that a document is offi- figures to take account of seasonal varia-
cially approved by the organisation that tions
uses the symbol 왍 contract under seal a seasonal demand /siz(ə)n(ə)l d
seasonal demand
contract which has been legally approved mɑnd/ noun a demand which exists
with the seal of the company 2. a piece of only during the high season
seasonal employment /siz(ə)n(ə)l
seasonal employment
paper, metal or wax attached to close

something, so that it can be opened only mplɔmənt/, | seasonal work
if the paper, metal or wax is removed or /siz(ə)n(ə)l w&k/ noun a job which is
broken 쐽 verb 1. to close something available at certain times of the year only
tightly 쑗 The computer disks were sent in (such as in a ski resort)
a sealed container. 2. to attach a seal, to seasonally adjusted /siz(ə)nəli ə
seasonally adjusted
stamp something with a seal 쑗 Customs d$std/ adjective referring to statistics

sealed the shipment. which are adjusted to take account of sea-
sealed tender /sild tendə/ noun a sonal variations
sealed tender
tender sent in a sealed envelope which seasonal product /siz(ə)n(ə)l

seasonal product
will be opened with others at a specific prɒdkt/ noun a product such as skis or
time New Year cards which is only bought for
SEAQ
SEAQ noun a computerised information use at a specific time of year

seasonal unemployment
seasonal unemployment
system giving details of current share

prices and stock market transactions on /siz(ə)nəl nmplɔmənt/ noun un-
|
the London Stock Exchange. Dealers list employment which rises and falls accord-
their offer and bid prices on SEAQ, and ing to the season
transactions are carried out on the basis of season ticket /siz(ə)n tkt/ noun a
season ticket
the information shown on the screen and rail or bus ticket which can be used for
are also recorded on the SEAQ database any number of journeys over a period
in case of future disputes. Full form (normally 1, 3, 6 or 12 months)
Stock Exchange Automated Quota- sec abbr secretary
sec
tions system
SEC abbr Securities and Exchange
SEC
search / s&tʃ/ noun an examination of

search
Commission
records by the lawyer acting for someone second /sekənd/ noun, adjective the
second
who wants to buy a property, to make sure thing which comes after the first 쐽 verb
that the vendor has the right to sell it /skɒnd/ 1. /sekənd/; /skɒnd / 왍 to
| |
search engine /s&tʃ end$n/ noun a

search engine
second a motion to be the first person to

computer program that searches through support a proposal put forward by some-
a number of documents, especially on the one else 쑗 Mrs Smith seconded the mo-
Internet, for particular keywords and pro- tion or The motion was seconded by Mrs
vides the user with a list of the documents Smith. 2. to lend a member of staff to an-
in which those keywords appear other company, organisation or depart-
search engine registration /s&tʃ ment for a fixed period of time 쑗 He was
search engine registration
end$n red$streʃ(ə)n/ noun the proc-

| seconded to the Department of Trade for
ess of registering a website with a search two years.
engine, so that the site can be selected secondary /sekənd(ə)ri/ adjective
secondary
when a user requests a search second in importance

season /siz(ə)n/ noun 1. one of four secondary action /sekənd(ə)ri
season secondary action
parts into which a year is divided, i.e. kʃən/, secondary strike

spring, summer, autumn and winter 2. a /sekənd(ə)ri strak/, secondary pick-
period of time when some activity usually eting /sekənd(ə)ri pktŋ/ noun the
takes place 쑗 the selling season picketing by striking workers of a factory
secondary bank 368

which is not the one with which they are secondhand dealer /sekəndhnd
secondhand dealer
in direct dispute, often to prevent it from dilə/ noun a dealer who buys and sells
supplying the striking factory or receiving secondhand items
supplies from it. Also called secondary secondment /skɒndmənt/ noun the
secondment
picketing, secondary strike fact or period of being seconded to anoth-

secondary bank /sekənd(ə)ri bŋk/
secondary bank
er job for a period 쑗 She is on three years’

noun a finance company which provides secondment to an Australian college.
money for hire-purchase deals second
second mortgage
mortgage /sekənd
secondary industry / sekənd(ə)ri mɔ!d$/ noun a further mortgage on a
secondary industry
ndəstri/ noun an industry which uses property which is already mortgaged

basic raw materials to produce manufac- second quarter /sekənd kwɔtə/
second quarter
tured goods noun a period of three months from April

secondary picketing /sekənd(ə)ri
secondary picketing
to the end of June

pktŋ/ noun same as secondary ac- second-rate /sekənd ret/ adjective
second-rate
tion not of good quality 쑗 never buy anything

secondary products /sekənd(ə)ri second-rate
secondary products
prɒdkts/ plural noun products which seconds /sekəndz/ plural noun items
seconds
have been processed from raw materials which have been turned down by the qual-
(as opposed to primary products) ity controller as not being top quality 쑗
secondary strike /sekənd(ə)ri The shop has a sale of seconds.
secondary strike
strak/ noun same as secondary ac- secret /sikrət/ adjective being delib-
secret
tion erately kept hidden from people, or which

second-class /sekənd klɑs/ adjec- is not known about by many people 쑗 The
second-class
tive, adverb referring to a less expensive MD kept the contract secret from the rest
or less comfortable way of travelling 쑗 of the board. 쑗 The management signed a
The group will travel second-class to Hol- secret deal with a foreign supplier. 쐽
land. 쑗 The price of a second-class ticket noun something which is kept hidden or
is half that of a first class. which is not known about by many people
쑗 to keep a secret 왍 to keep a secret not
second-class mail /sekənd klɑs
second-class mail
mel/ noun a less expensive, slower mail to tell secret information which you have
service 쑗 The letter took three days to ar- been told
secretarial /sekrteəriəl/ adjective
secretarial
rive because he sent it second-class. |
second decile /sekənd desaəl/

second decile
referring to the work of a secretary 쑗 She
noun a number below which fifty percent is taking a secretarial course. 쑗 He is
of numbers fall 쑗 This group falls within looking for secretarial work. 쑗 We need
the second decile. extra secretarial help to deal with the
mailings. 쑗 Their secretarial duties are
seconder /sekəndə/ noun a person
seconder
not onerous, just boring. 쑗 Secretarial

who seconds a proposal 쑗 There was no work is seen as a step towards manage-
seconder for the motion so it was not put ment positions.
to the vote. secretarial college /sekrəteəriəl
secretarial college
second half /sekənd hɑf/ noun a

|
second half
kɒld$/ noun a college which teaches

period of six months from 1st July to 31st skills which a secretary needs, such as
December 쑗 The figures for the second shorthand, typing and word-processing
half are up on those for the first part of the secretariat /sekrteəriət/ noun an
secretariat
year. important office and the officials who

second half-year /sekənd hɑf jə/
second half-year
work in it 쑗 the United Nations secretar-

noun the six-month period from July to iat
the end of December ‘…a debate has been going on over the es-
secondhand /sekəndhnd/ adjec-
secondhand
| tablishment of a general secretariat for the

tive, adverb which has been owned by G7. Proponents argue that this would give
someone before 쑗 a secondhand car 쑗 the G7 a sense of direction and continuity’
the market in secondhand computers or [Times]
the secondhand computer market 쑗 to secretary /sekrət(ə)ri/ noun 1. a per-
secretary
buy something secondhand son who helps to organise work, types let-
369 security guard

ters, files documents, arranges meetings, secured creditor /skjυəd kredtə/
secured creditor
etc., for someone 쑗 My secretary deals noun a person who is owed money by
with incoming orders. 쑗 Her secretary someone, and can legally claim the same
phoned to say she would be late. 2. an of- amount of the borrower’s property if the
ficial of a company or society whose job borrower fails to pay back the money
is to keep records and write letters 3. a owed
member of the government in charge of a secured debt /skjυəd det/ noun a
secured debt
department 쑗 the Trade Secretary 쑗 the

|
debt which is guaranteed by assets which

Foreign Secretary 쑗 the Education Secre- have been pledged
tary
secured loan /skjυəd ləυn / noun a
secured loan
secretary and personal assistant
secretary and personal assistant

|
loan which is guaranteed by the borrower

/sekrət(ə)ri ən p&s(ə)n(ə)l ə |
giving assets as security

sst(ə)nt/ noun a secretary to a top-level
securities /skjυərtiz/ plural noun 1.
securities
member of an organisation, such as direc- |
tor, or senior manager investments in stocks and shares 2. certif-

icates to show that someone owns stocks
Secretary of State /sekrət(ə)ri əv
Secretary of State
or shares
stet/ noun a member of the government Securities and Exchange Commission
in charge of a department 쑗 the Secretary Securities and Exchange Com-

of State for Trade and Industry mission /skjυərtiz ən kstʃend$ | |
kəmʃ(ə)n/ noun the official body which

secret ballot /sikrət blət/ noun an
secret ballot |
regulates the securities markets in the

election where the voters vote in secret USA. Abbreviation SEC
section /sekʃən/ noun 1. a part of
section
Securities and Futures Authority
Securities and Futures Authority

something 쑗 You should read the last sec- /skjυərətiz ən fjutʃəz ɔθɒrəti/
| |
tion of the report – it is very interesting. 2. noun in the UK, a self-regulatory organi-
one of the parts of an Act of Parliament sation which supervises the trading in
sector /sektə/ noun a part of the econ-
sector
shares and futures, now part of the FSA.

omy or the business organisation of a Abbreviation SFA
country 쑗 All sectors of the economy suf- securities market /skjυərtiz
securities market
fered from the fall in the exchange rate. 쑗

|
mɑkt/ noun a Stock Exchange, a place

Technology is a booming sector of the where stocks and shares can be bought or
economy. sold
‘…government services form a large part
/skjυərtiz
securities trader
of the tertiary or service sector’ securities trader |
[Sydney Morning Herald] tredə/ noun a person whose business is

‘…in the dry cargo sector, a total of 956 buying and selling stocks and shares
securitise /skjυrətaz/, securitize
securitise
dry cargo vessels are laid up – 3% of world |
dry cargo tonnage’ [Lloyd’s List] verb to make a loan into a security which
secure /skjυə/ adjective safe, which
secure
|
can be traded (e.g. by issuing an IOU for
cannot change 왍 secure job a job from a loan)
security /skjυərti/ noun 1. the fact
security
which you are not likely to be made re- |
dundant 왍 secure investment an invest- of being protected against attack 왍 office

ment where you are not likely to lose security the act of protecting an office
money 쐽 verb 1. 왍 to secure a loan to against theft 2. the fact of being kept se-
pledge an asset as a security for a loan 2. cret 왍 security in this office is nil nothing
to get something safely into your control can be kept secret in this office 3. a guar-
쑗 He is visiting several banks in an at- antee that someone will repay money bor-
tempts to secure funds for his project. 쑗 rowed 쑗 to give something as security for
He secured the backing of an Australian a debt 쑗 to use a house as security for a
group. loan 쑗 The bank lent him £20,000 without
secured /skjυəd/ adjective used to
secured
|
security. 왍 to stand security for some-
describe a type of borrowing such as a one to guarantee that if the person does
mortgage where the lender has a legal not repay a loan, you will repay it for him
security guard /skjυərti !ɑd/
security guard
right to take over an asset or assets of the |
borrower, if the borrower does not repay noun a person who protects an office or
the loan factory against burglars
security of employment 370

of employment /s selection procedure /slekʃən prə
security of employment selection procedure
security | | |
kjυərti əv mplɔmənt/ noun a feel-

| sid$ə/ noun the general method of
ing by an employee that he or she will be choosing a candidate for a job
able to stay in the same job until retire- selective /slektv/ adjective choos-
selective
ment ing carefully

security of tenure /skjυərti əv
security of tenure
selective strikes /slektv straks/

selective strikes
|
tenjə/ noun a right to keep a job or rent-

|
noun strikes in certain areas or at certain

ed accommodation provided conditions factories, but not everywhere
are met self /self/ pronoun your own person 왍
self
security printer /skjυərti prntə/

security printer
|
‘pay self’ (on cheques) pay the person
noun a printer who prints material that who has signed the cheque
has to be kept secure, such as paper mon- self- / self/ prefix referring to yourself
self-
ey, share prospectuses or secret govern-

self-assessment /self əsesmənt/
self-assessment
ment documents |
noun the process of calculating how

seed capital /sid kpitəl/, seed
seed capital
much tax you should pay and reporting it

money /sid mni/, seedcorn to the Inland Revenue on time 쑗 Self-as-
/sidkɔn/ noun capital invested when a sessment forms should be returned to the
new project is starting up, before it is tax office by 31st January.
brought to the stock market
self-contained office /self kən
self-contained office
see-safe /si sef/ adverb under an

see-safe |
tend ɒfs/ noun an office which has all

agreement where a supplier will give facilities inside it, and its own entrance,
credit for unsold goods at the end of a peso that it is separate from other offices in
riod if the retailer cannot sell them 쑗 We the same building
bought the stock see-safe.
self-employed /self mplɔd/ adjec-
self-employed
segment /se!mənt/ noun a part of the

segment |
tive working for yourself or not on the

sales of a large business defined by spe- payroll of a company 쑗 a self-employed
cific criteria engineer 쑗 He worked for a bank for ten
/se!mənteʃ(ə)n/
segmentation
segmentation |
years but is now self-employed. 쐽 plural
noun the division of the market or con- noun 왍 the self-employed people who
sumers into categories according to their work for themselves
buying habits self-financed /self fannst/ adjec-
self-financed
seize /siz/ verb to take hold of some- tive 왍 the project is completely self-fi-
seize
thing, to take possession of something 쑗 nanced the project pays its development
Customs seized the shipment of books. 쑗 costs out of its own revenue, with no sub-
The court ordered the company’s funds to sidies
be seized. self-financing /self fannsŋ/
self-financing
seizure /si$ə/ noun an act of taking

seizure
noun the financing of development costs,

possession of something 쑗 the court or- the purchase of capital assets, etc. by a
dered the seizure of the shipment or of the company from its own resources 쐽 adjec-
company’s funds tive 왍 the company is completely self-fi-
select /slekt/ adjective of top quality nancing the company finances its devel-
select
or specially chosen 쑗 The firm offers a se- opment costs, capital assets, etc. from its
lect range of merchandise. 쑗 Our custom- own resources
ers are a select group. 쐽 verb to choose 쑗 self-made man /self med mn/
self-made man
The board will meet to select three candi- noun a man who is rich and successful
dates for a second interview. 왍 selected because of his own work, not because he
items are reduced by 25% some items inherited money or position
have been reduced by 25% self-made woman /self med
self-made woman
selection /slekʃən/ noun 1. a choice wυmən/ noun a woman who is rich and
selection
2. a thing which has been chosen 쑗 Here successful because of her own work, not
is a selection of our product line. because she inherited money or position
selection board /slekʃən bɔd/ self-regulating organisation / self
selection board self-regulating organisation
noun a committee which chooses a candi- re!juletŋ ɔ!ənazeʃ(ə)n/ noun

|
date for a job same as self-regulatory organisation

371 send
self-regulation /self re!jυleʃ(ə)n/ sell out phrasal verb 1. 왍 to sell out of
self-regulation
noun the regulation of an industry by it- an item to sell all the stock of an item 쑗
self, through a committee which issues a to sell out of a product line 쑗 We have
rulebook and makes sure that members of sold out of plastic bags. 쑗 This item has
the industry follow the rules (NOTE: For sold out. 2. to sell your business 쑗 They
example, the Stock Exchange is regulat- sold out and retired to the seaside.
ed by the Stock Exchange Council.) sell up phrasal verb to sell a business
self-regulatory /self re!jυlet(ə)ri/
self-regulatory
|
and all the stock 쑗 He sold up and
adjective referring to an organisation bought a farm.
sell and build /sel ən bld/ noun a
sell and build
which regulates itself

self-regulatory organisation /self
self-regulatory organisation
type of manufacturing in which the pro-
re!jυlət(ə)ri ɔ!ənazeʃ(ə)n/ noun
|
ducer first receives an order and payment
an organisation, such as the Securities and from the customer and then makes a prod-
Futures Authority, which regulates the uct, rather than making products for stock
sell-by date /sel ba det/ noun a
sell-by date
way in which its own members carry on

their business. Abbreviation SRO date on a food packet which is the last
self-seal envelope /self sil
self-seal envelope
date on which the food is guaranteed to be
envələυp/ noun an envelope which good
seller /selə/ noun 1. a person who sells
seller
sticks closed when you press the flap

down 쑗 There were few sellers in the market, so
prices remained high. 2. something
self-service store /self s&vs stɔ/
self-service store
which sells 쑗 This book is a steady seller.

noun a shop where customers take goods
seller’s market /seləz mɑkt/ noun
seller’s market
from the shelves and pay for them at the

checkout a market where the seller can ask high
prices because there is a large demand for
self-starter /self stɑtə/ noun a per-
self-starter
the product. Opposite buyer’s market

son who can be relied on to take the initi-
-selling /selŋ/ suffix 왍 best-selling car
-selling
ative in a new situation without asking for

instructions a car which sells better than other models
selling costs /selŋ kɒsts/, selling
selling costs
self-sufficiency /self səfʃ(ə)nsi/

self-sufficiency
overhead /selŋ əυvəhed/ plural noun

|
noun the state of being self-sufficient

the amount of money to be paid for the
self-sufficient /self səfʃ(ə)nt/ ad-
self-sufficient
|
advertising, reps’ commissions and other
jective producing enough food or raw ma- expenses involved in selling something
terials for its own needs 쑗 The country is selling price /selŋ pras/ noun the
selling price
self-sufficient in oil. price at which someone is willing to sell

self-supporting /self səpɔtŋ/ ad-
self-supporting
|
something
jective which finances itself from its own sellout /selaυt/ noun 왍 this item has
sellout
resources, with no subsidies been a sellout all the stock of the item has
sell noun an act of selling 왍 to give a been sold
product the hard sell to make great ef- semi- / semi/ prefix half or part
semi-
forts to persuade customers to buy it 쐽

semi-finished product /semi
semi-finished product
phrasal verb 1. to give goods in ex-

change for money 쑗 to sell something fnʃt prɒdkt/ noun a product which
on credit 쑗 The shop sells washing ma- is partly finished
seminar /semnɑ/ noun a meeting for
seminar
chines and refrigerators. 쑗 They tried to

sell their house for £100,000. 쑗 Their the purposes of learning and discussion
products are easy to sell. 2. to be sold 쑗 with a relatively small number of partici-
These items sell well in the pre-Christ- pants 쑗 He attended a seminar on direct
mas period. 쑗 Those packs sell for £25 selling. 쑗 She is running a seminar for
a dozen. 쒁 hard sell (NOTE: selling – senior managers.
semi-skilled /semi skld/ adjective
semi-skilled
sold)
sell forward phrasal verb to sell for- having had or involving some training 왍
eign currency, commodities, etc. for de- semi-skilled jobs jobs which require
livery at a later date some training or experience
send /send/ verb to make someone or
send
sell off phrasal verb to sell goods

quickly to get rid of them something go from one place to another 쑗
sender 372
She sent a letter to our solicitors. 쑗 The senior management /siniə
senior management
order was sent to the warehouse. 쑗 The mnd$mənt/ noun the main directors
company is sending him to Australia to be of a company
general manager of the Sydney office. 쑗 senior manager /siniə mnd$ə/,
senior manager
Send the letter airmail if you want it to ar- senior executive /siniər !zekjυtv/ |
rive next week. 쑗 The shipment was sent noun a manager or director who has a
by rail. (NOTE: sending – sent) higher rank than others
send away for phrasal verb to write senior partner /siniə pɑtnə / noun
senior partner
asking for something to be sent to you 쑗 the most important partner in a firm of so-
We sent away for the new catalogue. licitors or accountants
send for phrasal verb 1. to ask some-
senior staff /siniə stɑf/ noun 1.
senior staff
one to come; to ask for something to be older members of staff 2. people in more
brought 쑗 He sent for the chief account-
ant. 쑗 She sent for the papers on the important positions in a company
senior vice-president /siniə vas
senior vice-president
contract. 2. US to write to ask for some-

thing to be sent to you 쑗 We sent for the prezd(ə)nt/ noun one of a few main ex-
new catalog. (NOTE: British English ecutive directors of a company
separate adjective /sep(ə)rət/ not
separate
uses send away for, send off for in

this meaning.) connected with something 왍 to send
send in phrasal verb to send (a letter) something under separate cover to send
쑗 he sent in his resignation 쑗 she sent in something in a different envelope 쐽 verb
an application /sepəret/ to divide 쑗 The personnel are
send off phrasal verb to put (a letter) in separated into part-timers and full-time
the post staff.
separately /sep(ə)rətli/ adverb not to-
separately
send off for phrasal verb to write ask-

ing for something to be sent to you 쑗 We gether 쑗 each job was invoiced separately
sequester /skwestə/, sequestrate
sequester
sent off for the new catalogue. |
send on phrasal verb to post a letter /sikwstret, skwestret/ verb to

|
which you have received, and address it take and keep a bank account or property
to someone else 쑗 He sent the letter on because a court has ordered it 쑗 The un-
to his agent in Australia. ion’s funds have been sequestrated.
sequestration /sikwestreʃ(ə)n/
sequestration
sender /sendə/ noun a person who

sender
sends 왍 ‘return to sender’ words on an noun the act of taking and keeping prop-
envelope or parcel to show that it is to be erty on the order of a court, especially of
sent back to the person who sent it seizing property from someone who is in
contempt of court
Sendirian /sendriən/ noun a Malay
Sendirian
sequestrator /sikwstretə, s
| sequestrator
term meaning ‘limited’ |
Sendirian berhad kwestretə/ noun a person who takes

Sendirian berhad noun a Malay term and keeps property on the order of a court
meaning ‘private limited company’ serial entrepreneur
serial entrepreneur
/səriəl
senior /siniə / adjective 1. referring to ɒntrəprən&/ noun an entrepreneur
senior
an employee who is more important 2. re- who starts up many new businesses, one
ferring to an employee who is older or after the other
who has been employed longer than an- serial number /səriəl nmbə/ noun
serial number
other 3. referring to a sum which is repay- a number in a series 쑗 This batch of shoes
able before others has the serial number 25–02.
senior debt /siniə det/ noun a debt
senior debt
series /səriz/ noun a group of items

series
which must be repaid in preference to oth- following one after the other 쑗 A series of
er debts (such as a first mortgage over a successful takeovers made the company
second mortgage) one of the largest in the trade. (NOTE: The
seniority /siniɒrti/ noun 1. the fact plural is series.)
seniority
of being more important 쑗 in order of serious /səriəs/ adjective 1. bad 쑗 the

serious
seniority 2. the fact of being older or hav- storm caused serious damage 쑗 The dam-
ing been an employee of the company age to the computer was not very serious.
longer 2. thoughtful 쑗 The management is mak-
373 service engineer

ing serious attempts to improve working of equipment 쑗 The machine has been
conditions. sent in for service. 7. the business of pro-
Serious Fraud Office /sərəs
Serious Fraud Office
viding help in some form when it is need-
frɔd ɒfs/ noun a British government ed 8. 왍 to put a machine into service to
department in charge of investigating ma- start using a machine 9. the regular work-
jor fraud in companies. Abbreviation ing of a public organisation 쑗 the postal
SFO service is efficient 쑗 The bus service is
very irregular. 쑗 We have a good train
seriously /səriəsli/ adverb 1. badly 쑗
seriously
The cargo was seriously damaged by wa- service to London. 왍 the civil service or-
ganisation and personnel which adminis-
ter. 2. in a thoughtful way 쑗 We are taking
the threat from our competitors very seri- ter a country 쑗 you have to pass an exam-
ination to get a job in the civil service or
ously.
to get a civil service job 쑗 civil service
servant /s&vənt/ noun a person who
servant
pensions are index-linked 쑗 He has a job

is paid to work in someone’s house in the civil service. 쐽 verb 1. to keep a
serve / s&v/ verb 1. to deal with a cus-
serve
machine in good working order 쑗 The car

tomer 왍 to serve a customer to take a needs to be serviced every six months. 쑗
customer’s order and provide what he The computer has gone back to the manu-
wants 왍 to serve in a shop, in a restau- facturer for servicing. 2. 왍 to service a
rant to deal with customers’ orders 2. 왍 debt to pay interest on a debt 쑗 The com-
to serve someone with a writ or to serve pany is having problems in servicing its
a writ on someone to give someone a debts.
writ officially, so that they have to receive service agreement /s&vs ə
service agreement
it !rimənt/ noun a contract between a

server / s&və/ noun a computer or pro-
server
company and a director showing all con-

gram which provides a function to a net- ditions of work 쑗 The service agreement
work says very little about hours of work.
server farm /s&və fɑm/ noun a
server farm
service bureau / s&vs bjυərəυ/

service bureau
place that contains a large number of noun an office which specialises in help-
server computers and usually runs these ing other offices
servers for the benefit of many different
service centre /s&vs sentə/ noun
service centre
organisations
an office or workshop which specialises
service /s&vs/ noun 1. a piece of
service
in keeping machines in good working or-

work done to help someone as a duty or a der
favour 쑗 After a lifetime’s service to the
service charge /s&vs tʃɑd$/ noun
service charge
company he was rewarded with a gener-

ous golden handshake. 2. a form of busi- 1. a charge added to the bill in a restaurant
ness (e.g. insurance, banking, or trans- to pay for service 2. an amount paid by
port) that provides help in some form tenants in a block of flats or offices for
when it is needed, as opposed to making general maintenance, insurance and
or selling goods 3. the fact of working for cleaning 3. US a charge which a bank
an employer, or the period of time during makes for carrying out work for a custom-
which an employee has worked for an er (NOTE: The UK term is bank charge.)
employer 쑗 retiring after twenty years service contract /s&vs kɒntrkt/
service contract
service to the company 쑗 The amount of noun a contract between a company and a
your pension depends partly on the director showing all conditions of work 쑗
number of your years of service. 4. the She worked unofficially with no service
work of dealing with customers 쑗 The contract.
service in that restaurant is extremely
service department /s&vs d
service department
slow 5. payment for help given to the cus- |
tomer 쑗 to add on 10% for service 왍 the pɑtmənt/ noun the section of a compa-
bill includes service the bill includes a ny which keeps customers’ machines in
charge added for the work involved 쑗 The good working order
service engineer /s&vs end$nə/
service engineer
service in that restaurant is extremely |
slow. 6. the act of keeping a machine in noun an engineer who specialises in

good working order 쑗 the routine service keeping machines in good working order
service handbook 374

service handbook /s&vs set up phrasal verb to begin some-
service handbook
hndbυk/ noun a book which shows thing, or to organise something new 쑗

how to service a machine to set up an inquiry or a working party
service industry /s&vs ndəstri/
service industry
왍 to set up a company to start a compa-
noun an industry which does not produce ny legally 왍 to set up in business to
raw materials or manufacture products start a new business 쑗 She set up in
but offers a service such as banking, re- business as an insurance broker. 쑗 He
tailing or accountancy set himself up as a freelance represent-
service manual /s&vs mnjυəl/
service manual
ative.
noun a book showing how to service a ‘…the concern announced that it had ac-
machine quired a third large tanker since being set
up’ [Lloyd’s List]
service sector /s&vs sektə/ noun
service sector
setback /setbk/ noun something that

setback
the part of an economy that consists of

service industries stops progress 쑗 The company has suf-
fered a series of setbacks over the past
service station /s&vs steʃ(ə)n/
service station
two years. 쑗 The shares had a setback on

noun a garage where you can buy petrol
and have small repairs done to a car the Stock Exchange.
‘…a sharp setback in foreign trade ac-
session /seʃ(ə)n/ noun a period of
session
counted for most of the winter slowdown’

time spent on a specific activity, especial- [Fortune]
ly as part of a larger event 쑗 The morning
setting up costs /setŋ p kɒsts /,
setting up costs
session or the afternoon session will be

setup costs /setp kɒsts / plural noun
held in the conference room.
the costs of getting a machine or a factory
‘…statistics from the stock exchange ready to make a new product after finish-
show that customer interest in the equity
market has averaged just under £700m in ing work on the previous one
settle /set(ə)l/ verb 1. 왍 to settle an ac-
settle
recent trading sessions’ [Financial Times]

set / set/ noun a group of items which go
set
count to pay what is owed 2. to solve a
together, which are used together or problem or dispute 왍 to settle a claim to
which are sold together 쑗 a set of tools 쐽 agree to pay what is asked for 쑗 The in-
adjective fixed or which cannot be surance company refused to settle his
changed 쑗 There is a set fee for all our claim for storm damage. 왍 the two par-
consultants. 쐽 verb to fix or to arrange ties settled out of court the two parties
something 쑗 We have to set a price for the reached an agreement privately without
new computer. 쑗 The price of the calcula- continuing the court case
tor has been set low, so as to achieve max- settle on phrasal verb to leave proper-
imum unit sales. (NOTE: setting – set) 왍 ty to someone when you die 쑗 He set-
the auction set a record for high prices tled his property on his children.
settlement /set(ə)lmənt / noun 1. the
settlement
the prices at the auction were the highest

ever reached 왍 to set the bar to motivate payment of an account 왍 we offer an ex-
staff by setting targets that are above their tra 5% discount for rapid settlement
current level of achievement we take a further 5% off the price if the
set against phrasal verb to balance customer pays quickly 왍 settlement in
one group of figures against another cash or cash settlement payment of an
group to try to make them cancel each invoice in cash, not by cheque 2. an agree-
other out 쑗 to set the costs against the ment after an argument or negotiations 쑗
sales revenue 쑗 Can you set the expens- a wage settlement 왍 to effect a settle-
es against tax? ment between two parties to bring two
set aside phrasal verb to decide not to parties together to make them agree
apply a decision 쑗 The arbitrator’s ‘…he emphasised that prompt settlement
award was set aside on appeal. of all forms of industrial disputes would
set back phrasal verb to make some- guarantee industrial peace in the country
thing late 쑗 The project was set back six and ensure increased productivity’
weeks by bad weather. [Business Times (Lagos)]
settlement date /set(ə)lmənt det/
settlement date
set out phrasal verb to put clearly in

writing 쑗 to set out the details in a re- noun a date when a payment has to be
port made
375 share above par

settlement day /set(ə)lmənt de/ teams shook hands and sat down at the
settlement day
noun the day on which shares which have conference table. 왍 to shake hands on a
been bought must be paid for. On the Lon- deal to shake hands to show that a deal
don Stock Exchange the account period is has been agreed 2. to surprise or to shock
three business days from the day of trade. 쑗 The markets were shaken by the compa-
setup /setp/ noun 1. arrangement or
setup
ny’s results. (NOTE: shaking – shook –
organisation 왍 the setup in the office the has shaken)
shakeout /ʃek aυt/ noun 1. a com-
shakeout
way the office is organised 2. a commer-

cial firm 쑗 He works for a PR setup. plete change, where weak or inefficient
‘…for sale: top quality office furniture, people or companies are removed 쑗 Only
which includes executive desks, filing three companies were left after the
cabinets, typewriters and complete office shakeout in the computer market. 2. a re-
setup’ [Australian Financial Review] organisation in a company, where some
several /sev(ə)rəl/ adjective more than
several
people are left, but others go 쑗 a shakeout
a few, some 쑗 Several managers are retir- in the top management
ing this year. 쑗 Several of our products shakeup /ʃekp/ noun a total reor-
shakeup
sell well in Japan. ganisation 쑗 The managing director or-

severally /sev(ə)rəli/ adverb separate- dered a shakeup of the sales departments.
severally
ly, not jointly 왍 they are jointly and sev- shaky /ʃeki/ adjective not very sure or
shaky
erally liable they are liable both as a not very reliable 쑗 He only has the shaki-
group and as individuals for the total est idea of what he should be doing.
amount shape up or ship out /ʃep p ɔ ʃp
shape up or ship out
severance pay /sev(ə)rəns pe/ aυt/ interjection an order to improve

severance pay
noun money paid as compensation to an your performance at work because if you

employee whose job is no longer needed do not you will be fired
sexual discrimination /sekʃuəl share /ʃeə/ noun 1. a part of something
sexual discrimination share
dskrmneʃ(ə)n/, sex discrimination

| that has been divided up among several
/seks dskrmneʃ(ə)n/ noun the prac-
| people or groups 왍 to have a share in to
tice of treating men and women in differ- take part in or to contribute to 쑗 to have a
ent ways (usually favouring men) 쑗 The share in management decisions 2. one of
company was accused of sex discrimina- many equal parts into which a company’s
tion in its appointment of managers. 쑗 capital is divided 쑗 He bought a block of
Sex discrimination has made it difficult shares in Marks and Spencer. 쑗 Shares
for women to reach managerial posts in fell on the London market. 쑗 The compa-
the organisation. ny offered 1.8m shares on the market. 왍 to
sexual harassment /sekʃuəl allot shares to give a certain number of
sexual harassment
hrəsmənt, hərsmənt/ noun the|

shares to people who have applied to buy
practice of making unpleasant sexual ges- them 쐽 verb 1. to own or use something
tures, comments or approaches to some- together with someone else 쑗 It is very
one 쑗 She complained of sexual harass- awkward having to share a telephone. 쑗 I
ment by the manager. don’t want to share an office with her be-
SFA abbr Securities and Futures Author-
SFA
cause she smokes. 2. to divide something
ity up among several people or groups 쑗 to
share computer time 쑗 to share the profits
SFO abbr Serious Fraud Office
SFO
among the senior executives 쑗 Three

shadow economy /ʃdəυ  companies share the market. 왍 to share
shadow economy
kɒnəmi/ noun same as black economy information or data to give someone in-
shady /ʃedi/ adjective not honest 쑗
shady
formation which you have

The newspapers reported that he had ‘…falling profitability means falling share
been involved in several shady deals. prices’ [Investors Chronicle]
shake /ʃek/ verb 1. to move something
shake
‘…the share of blue-collar occupations de-

quickly from side to side 왍 to shake clined from 48 per cent to 43 per cent’
hands to hold someone’s hand when [Sydney Morning Herald]
share above par /ʃeə əbv pɑ/
share above par
meeting to show you are pleased to meet |
them or to show that an agreement has noun a share with a market price which is
been reached 쑗 The two negotiating higher than its par value
share allocation 376

share allocation /ʃeə ləkeʃ(ə)n/ share ownership scheme /ʃeər
share allocation share ownership scheme
noun the act of spreading a small number əυnəʃp skim/, share incentive
of shares among a large number of people scheme noun a scheme whereby em-
who have applied for them ployees in a company can buy shares in it
share allotment /ʃeə əlɒtmənt/
share allotment
|
and so share in the profits 쑗 Share owner-
noun the act of giving some shares in a ship schemes help employees to identify
new company to people who have applied more closely with the company they work
for them 쑗 Payment must be made in full for.
share split /ʃeə splt/ noun the act of
share split
on allotment.
share at par /ʃeə ət pɑ/ noun a share dividing shares into smaller denomina-
share at par
whose value on the stock market is the tions

share warrant /ʃeə wɒrənt/ noun a
share warrant
same as its face value

share buyback /ʃeə babk/ noun
share buyback
document which says that someone has
an arrangement where a company buys its the right to a number of shares in a com-
own shares on the stock market pany
sharing /ʃeərŋ/ noun the act of divid-
sharing
share capital /ʃeə kpt(ə)l/ noun

share capital
the value of the assets of a company held ing up 앳 time-sharing 1. owning a prop-
as shares erty in part, with the right to use it for a
period each year 2. sharing a computer
share certificate /ʃeə sətfkət/
share certificate
system with different users using differ-

|
noun a document proving that you own

shares ent terminals
sharp /ʃɑp/ adjective sudden 쑗 There
sharp
shareholder /ʃeəhəυldə / noun a per-

shareholder
was a sharp rally on the stock market. 쑗

son who owns shares in a company 쑗 to Last week’s sharp drop in prices has been
call a shareholders’ meeting (NOTE: The reversed.
US term is stockholder.)
sharp practice /ʃɑp prkts/ noun
sharp practice
‘…as of last night the bank’s shareholders

no longer hold any rights to the bank’s a way of doing business which is not hon-
shares’ [South China Morning Post] est, but is not illegal
shed /ʃed/ verb to lose (NOTE: shed-
shed
‘…the company said that its recent issue

of 10.5% convertible preference shares at ding – shed) 왍 to shed staff to lose staff
A$8.50 has been oversubscribed, boosting by making them redundant
sheet /ʃit/ noun 왍 sheet of paper a
sheet
shareholders’ funds to A$700 million

plus’ [Financial Times] piece of paper
shareholders’ equity /ʃeəhəυldəz sheet feed /ʃit fid/ noun a device
shareholders’ equity sheet feed
ekwti/ noun the value of a company which puts one sheet of paper at a time
which is the property of its ordinary into a printer
shareholders (the company’s assets less shelf barker /ʃelf bɑkə/ noun a card
shelf barker
its liabilities) placed on or hung from a shelf to promote

shareholding /ʃeəhəυldŋ/ noun a
shareholding
an item for sale. Also called shelf talker,

group of shares in a company owned by shelf wobbler
one owner shelf filler /ʃelf flə/ noun a person
shelf filler
share issue /ʃeər ʃu/ noun an act of whose job is to make sure that the shelves
share issue
selling new shares in a company to the in a shop are kept full of items for sale
public shelf life /ʃelf laf/ noun the length of
shelf life
share option /ʃeər ɒpʃən/ noun a time during which a product can stay in
share option
right to buy or sell shares at an agreed the shop and still be good to use
price at a time in the future shelf space /ʃelf spes/ noun the
shelf space
share option scheme /ʃeər ɒpʃən amount of space on shelves in a shop

share option scheme
skim/ noun a scheme that gives compa- shelf talker /ʃelf wɒblə/, shelf wob-
shelf talker
ny employees the right to buy shares in bler noun same as shelf barker
the company which employs them, often shell company /ʃel kmp(ə)ni/
shell company
at a special price noun a company that has ceased to trade

shareout / ʃeəraυt/ noun an act of di-
shareout
but is still registered, especially one sold

viding something among many people 쑗 to enable the buyer to begin trading with-
a shareout of the profits out having to set up a new company
377 shopbot
(NOTE: The US term is shell corpora- shipper /ʃpə/ noun a person who
shipper
tion.) sends goods or who organises the sending

‘…shell companies, which can be used to of goods for other customers
hide investors’ cash, figure largely shipping /ʃpŋ/ noun the sending of
shipping
throughout the twentieth century’ [Times] goods 쑗 shipping charges 쑗 shipping

shelter /ʃeltə/ noun a protected place
shelter
costs (NOTE: shipping does not always

쐽 verb to give someone or something pro- mean using a ship.)
tection shipping agent /ʃpŋ ed$ənt/
shipping agent
shelve /ʃelv/ verb to postpone or to put noun a company which specialises in the
shelve
back to another date 쑗 The project was sending of goods

shelved. 쑗 Discussion of the problem has shipping clerk /ʃpŋ klɑk/ noun a
shipping clerk
been shelved. clerk who deals with shipping documents

shelving /ʃelvŋ/ noun postponing 쑗 /ʃpŋ
shelving
shipping company
shipping company
The shelving of the project has resulted in kmp(ə)ni/ noun a company whose
six redundancies. business is in transporting goods or pas-
shift /ʃft/ noun 1. a group of employees
shift
sengers in ships
shipping instructions /ʃpŋ n
shipping instructions
who work for a period, and then are re- |
placed by another group 왍 they work strkʃənz/ plural noun the details of
double shifts two groups of workers are how goods are to be shipped and deliv-
working shifts together 2. a period of time ered
worked by a group of employees 3. a shipping line /ʃpŋ lan/ noun a
shipping line
movement or change 쑗 a shift in the com- large shipping or aircraft company which
pany’s marketing strategy 쑗 The compa- carries passengers or cargo 쑗 Profits of
ny is taking advantage of a shift in the major airlines have been affected by the
market towards higher-priced goods. 쐽 rise in fuel prices.
verb to move, to sell 쑗 We shifted 20,000 shipping note /ʃpŋ nəυt/ noun a
shipping note
items in one week. note which gives details of goods being

shift work /ʃft w&k/ noun a system
shift work
shipped
of work with shifts shoot up phrasal verb to go up fast 쑗
shilling /ʃlŋ/ noun a unit of currency Prices have shot up during the strike.
shilling
used in Kenya, Somalia, Tanzania and (NOTE: shooting – shot)

shop /ʃɒp/ noun 1. a retail outlet where
shop
Uganda
ship /ʃp/ verb to send goods, but not al-
ship
goods of a certain type are sold 쑗 a com-
ways on a ship 쑗 to ship goods to the USA puter shop 쑗 an electrical goods shop 쑗
쑗 We ship all our goods by rail. 쑗 The All the shops in the centre of town close
consignment of cars was shipped abroad on Sundays. 쑗 She opened a women’s
last week. clothes shop. 2. a workshop, the place in
a factory where goods are made 쐽 verb to
shipbroker /ʃpbrəυkə/ noun a per-
shipbroker
|
go to shops to make purchases (NOTE:
son who arranges shipping or transport of shopping – shopped) 왍 to shop (for) to
goods for customers on behalf of ship look for things in shops
owners shop around phrasal verb to go to var-
ship chandler /ʃp tʃɑndlə/ noun a
ship chandler
ious shops or suppliers and compare

person who supplies goods such as food prices before making a purchase or be-
to ships fore placing an order 쑗 You should shop
ship laden in bulk /ʃp led(ə)n n around before getting your car serv-
ship laden in bulk
blk/ noun a ship which has a loose car- iced. 쑗 He’s shopping around for a new
go (such as corn) which is not packed in computer. 쑗 It pays to shop around
containers when you are planning to get a mort-
shipment /ʃpmənt/ noun 1. goods
shipment
gage.
shop assistant /ʃɒp əsstənt/ noun
shop assistant
which have been sent or are going to be |
sent 쑗 Two shipments were lost in the fire. a person who serves the customers in a
쑗 A shipment of computers was damaged. shop
2. an act of sending goods 쑗 We make two shopbot /ʃɒpbɒt/ noun an Internet
shopbot
shipments a week to France. search device that searches for particular

shop floor 378

products or services and allows the user to shop steward /ʃɒp stjuəd/ noun an
shop steward
compare prices and specifications elected trade union official who repre-
shop floor /ʃɒp flɔ/ noun the space sents employees in day-to-day negotia-
shop floor
in a shop given to the display of goods for tions with the management
sale shopwalker /ʃɒpwɔkə/ noun an em-
shopwalker
shop front /ʃɒp frnt/ noun a part of ployee of a department store who advises
shop front
a shop which faces the street, including the customers and supervises the shop as-
the entrance and windows sistants in a department
shopkeeper /ʃɒpkipə/ noun a person shop window /ʃɒp wndəυ/ noun a
shop window
shopkeeper
who owns or runs a shop large window in a shop front, where cus-
shoplifter /ʃɒplftə/ noun a person
shoplifter
tomers can see goods displayed
shop window website /ʃɒp wndəυ
shop window website
who steals goods from shops

shoplifting /ʃɒplftŋ/ noun the prac-
shoplifting
websat/ noun a website that provides
tice of stealing goods from shops information about an organisation and its
products, but does not allow visitors to in-
shopper /ʃɒpə/ noun a person who
shopper
teract with it
buys goods in a shop 쑗 The store stays
short /ʃɔt/ adjective, adverb 1. for a
short
open to midnight to cater for late-night

shoppers. small period of time 왍 in the short term
in the near future or quite soon 2. not as
shoppers’ charter /ʃɒpəz tʃɑtə /
shoppers’ charter
much as should be 쑗 The shipment was

noun a law which protects the rights of three items short. 쑗 My change was £2
shoppers against shopkeepers who are not short. 왍 when we cashed up we were
honest or against manufacturers of defec- £10 short we had £10 less than we should
tive goods have had 왍 to give short weight to sell
shopping /ʃɒpŋ/ noun 1. goods
shopping
something which is lighter than it should

bought in a shop 쑗 a basket of shopping be 왍 short of with less than needed or not
2. the act of going to shops to buy things enough of 쑗 We are short of staff or short
쑗 to do your shopping in the local super- of money. 쑗 The company is short of new
market 왍 shopping around looking at ideas. 쐽 verb to sell short 쑗 He shorted
prices in various shops before buying the stock at $35 and continued to short it
what you want as the price moved up.
shopping arcade /ʃɒpŋ ɑked/ shortage /ʃɔtd$/ noun a lack or low
shopping arcade
shortage
noun a covered passageway with small availability of something 쑗 a shortage of

shops on either side skilled staff 쑗 We employ part-timers to
shopping cart / ʃɒpŋ kɑt/ noun a make up for staff shortages. 쑗 The import
shopping cart
software package that records the items controls have resulted in the shortage of
that an online buyer selects for purchase spare parts. 왍 there is no shortage of in-
together with associated data, e.g. the vestment advice there are plenty of peo-
price of the item and the number of items ple who want to give advice on invest-
required ments
shopping centre /ʃɒpŋ sentə/ short-change /ʃɔt tʃend$/ verb to
short-change
shopping centre
noun a group of shops linked together give a customer less change than is right,
with car parks and restaurants either by mistake or in the hope that it will
shopping mall /ʃɒpŋ mɒl/ noun an
shopping mall
not be noticed
short credit /ʃɔt kredt/ noun terms
short credit
enclosed covered area for shopping, with

shops, restaurants, banks and other facili- which allow the customer only a little
ties time to pay
/ʃɒpŋ short-dated bill /ʃɔt detd bl/
short-dated bill
shopping precinct
shopping precinct
prisŋkt/ noun a part of a town where noun a bill which is payable within a few
the streets are closed to traffic so that peo- days
short-dated securities /ʃɔt detd
short-dated securities
ple can walk about and shop

shop-soiled /ʃɒp sɔld/ adjective
shop-soiled
skjυərtiz/ plural noun same as shorts
|
shorten /ʃɔt(ə)n/ verb to make short-

shorten
dirty because of having been on display in

a shop 쑗 These items are shop-soiled and er 쑗 to shorten credit terms 왍 to shorten
cannot be sold at full price. a credit period to make a credit period
379 show of hands

shorter, so as to improve the company’s short-stay /ʃɔt ste/ noun customers
short-stay
cash position who spend only a few nights at a hotel

shortfall /ʃɔtfɔl/ noun an amount short-term /ʃɔt t&m/ adjective for a
shortfall short-term
which is missing which would make the period of weeks or months 쑗 to place
total expected sum 쑗 We had to borrow money on short-term deposit 쑗 She is em-
money to cover the shortfall between ex- ployed on a short-term contract. 왍 on a
penditure and revenue. short-term basis for a short period
shorthand /ʃɔthnd/ noun a rapid short-term debt / ʃɔt t&m det/
shorthand short-term debt
way of writing using a system of signs 왍 noun a debt which has to be repaid within
to take shorthand to write using short- a few weeks
hand 쑗 He took down the minutes in short-term forecast /ʃɔt t&m
short-term forecast
shorthand. fɔkɑst/ noun a forecast which covers a

shorthanded /ʃɔthndd/ adjec-
shorthanded
| period of a few months

tive without enough staff 쑗 We’re rather short-term gain /ʃɔt t&m !en/
short-term gain
shorthanded at the moment. noun an increase in price made over a

shorthand notebook /ʃɔthnd
shorthand notebook
| short period
nəυtbυk/ noun a small notebook for
|
short-termism /ʃɔt t&mz(ə)m/
short-termism
taking shorthand dictation noun a type of thinking or planning that

shorthand secretary /ʃɔthnd
shorthand secretary
| concentrates on achieving results in the

sekrətri/ noun a secretary who takes near future rather than on long-term ob-
dictation in shorthand jectives
shorthand typist /ʃɔthnd short-term loan /ʃɔt t&m ləυn/
shorthand typist short-term loan
tapst/ noun a typist who can take dic- noun a loan which has to be repaid within
tation in shorthand and then type it a few weeks or some years
short-haul flight /ʃɔt hɔl flat/ short time / ʃɔt tam/ noun reduced
short-haul flight short time
noun a flight over a short distance (up to working hours resulting in less than half a
1,000 km) normal week’s pay 쑗 Several machinists
short lease /ʃɔt lis/ noun a lease will be on short time as long as the short-
short lease
which runs for up to two or three years 쑗 age of orders lasts. 쑗 The company has
We have a short lease on our current had to introduce short-time working be-
premises. cause of lack of orders.
shortlist /ʃɔtlst/ noun a list of candi- short ton /ʃɔt tn/ noun US a meas-
shortlist short ton
dates who can be asked to come for a test ure of weight (= 907 kilos)
or interview (drawn up after all applica- show /ʃəυ/ noun an exhibition or dis-
show
tions have been examined and the most play of goods or services for sale 쑗 a mo-
obviously unsuitable candidates have tor show 쑗 a computer show 쐽 verb to
been rejected) 쑗 to draw up a shortlist 쑗 make something be seen 쑗 to show a gain
She is on the shortlist for the job. 쐽 verb or a fall 쑗 to show a profit or a loss (NOTE:
to make a shortlist 쑗 Four candidates showing – showed – has shown)
have been shortlisted. 쑗 Shortlisted can- showcard /ʃəυkɑd/ noun a piece of
showcard
didates will be asked for an interview. cardboard with advertising material, put
short-range forecast /ʃɔt rend$
short-range forecast
near an item for sale

fɔkɑst/ noun a forecast which covers a showcase / ʃəυkes/ noun 1. a cup-
showcase
period of a few months board with a glass front or top to display

shorts /ʃɔts/ plural noun government
shorts
items 2. the presentation of someone or

stocks which mature in less than five something in a favourable setting 쐽 verb
years’ time to present someone or something in a way
short sale / ʃɔt selŋ/, short selling that is designed to attract attention and ad-
short sale
noun the act of arranging to sell some- miration

show house /ʃəυ haυs/ noun a house
show house
thing in the future which you think you

can buy for less than the agreed selling or flat built and furnished so that possible
price buyers can see what similar houses could
short-staffed /ʃɔt stɑft/ adjective be like
short-staffed
with not enough staff 쑗 We’re rather show of hands / ʃəυ əv hndz/
show of hands
short-staffed at the moment. noun a vote where people show how they
showroom 380
vote by raising their hands 쑗 The motion runs a profitable sideline selling post-
was carried on a show of hands. cards to tourists.
showroom /ʃəυrum/ noun a room sight bill /sat bl/ noun a bill of ex-
showroom sight bill
where goods are displayed for sale 쑗 a change which is payable at sight
car showroom
sight draft /sat drɑft/ noun a bill of
sight draft
shred /ʃred/ verb to tear (paper) into

shred
exchange which is payable when it is pre-

thin strips, which can then be thrown sented
away or used as packing material 쑗 They
sign / san/ noun a board or notice which
sign
sent a pile of old invoices to be shredded.

쑗 She told the police that the manager advertises something 쑗 They have asked
had told her to shred all the documents in for planning permission to put up a large
the file. red shop sign. 쑗 Advertising signs cover
shredder /ʃredə/ noun a machine for
shredder
most of the buildings in the centre of the
shredding paper town. 쐽 verb to write your name in a spe-
cial way on a document to show that you
shrink /ʃrŋk/ verb to get smaller 쑗 The
shrink
have written it or approved it 쑗 The letter

market has shrunk by 20%. 쑗 The compa-
is signed by the managing director. 쑗 Our
ny is having difficulty selling into a company cheques are not valid if they
shrinking market. (NOTE: shrinking – have not been signed by the finance direc-
shrank – has shrunk)
tor. 쑗 The new recruit was asked to sign
shrinkage /ʃrŋkd$/ noun 1. the
shrinkage
the contract of employment. 왍 the ware-

amount by which something gets smaller house manager signed for the goods the
쑗 to allow for shrinkage 2. losses of stock manager signed a receipt to show that the
through theft, especially by the shop’s goods had been received
own staff (informal) sign off phrasal verb 왍 to sign off the
shrink-wrapped /ʃrŋk rpt/ adjec-
shrink-wrapped
accounts (of directors) to sign the final

tive covered in tight plastic protective form of a company’s accounts to show
cover that they are approved, before sending
shrink-wrapping / ʃrŋk rpŋ/
shrink-wrapping
them to Companies House

noun the act of covering (a book, fruit, sign on phrasal verb to start work, by
record, etc.) in a tight plastic cover signing your name in the human re-
shroff /ʃrɒf/ noun 1. (in the Far East) sources office 왍 to sign on for the dole
shroff
an accountant 2. (in the Far East) an ac- to register as unemployed

counts clerk signatory /s!nət(ə)ri/ noun a person
signatory
shut /ʃt/ adjective not open for busi-

shut
who signs a contract, etc. 쑗 You have to

ness 쑗 The office is shut on Saturdays. 쐽 get the permission of all the signatories to
verb to close 쑗 to shut a shop or a ware- the agreement if you want to change the
house (NOTE: shutting – shut) terms.
shut down phrasal verb to make a fac-
signature /s!ntʃə/ noun a person’s
signature
tory or office stop working for a time 쑗

The offices will shut down for Christ- name written by themselves on a cheque,
mas. 쑗 Six factories have shut down this document or letter 쑗 She found a pile of
month. cheques on his desk waiting for signature.
쑗 All our company’s cheques need two
shutdown /ʃtdaυn/ noun the shut-
shutdown
ting of a factory or office signatures. 쑗 The contract of employment

had the personnel director’s signature at
shutout /ʃtaυt/ noun the locking of
shutout
the bottom.
the door of a factory or office to stop the
sign in / san n/ noun he signed the
sign in
staff getting in
sick leave /sk liv/ noun time when a
sick leave
stock report to show that the goods had ar-
worker is away from work because of ill- rived or had been dispatched
silent partner /salənt pɑtnə/ noun
silent partner
ness
sick pay /sk pe/ noun pay paid to an a partner who has a share of the business
sick pay
employee who is sick, even if he cannot but does not work in it

work simple interest /smpəl ntrəst/
simple interest
sideline /sadlan/ noun a business

sideline
noun interest calculated on the capital in-

which is extra to your normal work 쑗 He vested only, and not added to it
381 size
sister company /sstə kmp(ə)ni/
simultaneous management sister company
simultaneous management
/sm(ə)lteniəs mnd$mənt / noun a
| noun another company which is part of
style of management in which managers the same group
try to integrate different tasks and deal sister ship /sstə ʃp/ noun a ship
sister ship
with them at the same time rather than which is of the same design and belongs
keeping them separate and dealing with to the same company as another ship
them one after the other sit-down
sit-down protest
protest /st daυn

single /sŋ!(ə)l/ adjective 1. one alone prəυtest/, sit-down strike /st daυn
single
2. 왍 in single figures less than ten 쑗 Sales strak/ noun a strike where the employ-
are down to single figures. 쑗 Inflation is ees stay in their place of work and refuse
now in single figures. to work or to leave 쑗 They staged a sit-
single-entry
single-entry bookkeeping
bookkeeping down strike but were forced to leave the

/sŋ!(ə)l entri bυkkipŋ/ noun a premises by the police.
site /sat/ noun 1. the place where some-
site
method of bookkeeping where payments

or sales are noted with only one entry per thing is located 쑗 We have chosen a site
transaction, usually in the cash book for the new factory. 쑗 The supermarket is
single European market /sŋ!(ə)l
single European market
to be built on a site near the station. 2. a
jυərəpiən mɑkt/, single market website which is created by a company,
/sŋ!(ə)l mɑkt/ noun the EU consid- organisation or individual, and which an-
ered as one single market, with no tariff yone can visit 쑗 How many hits did we
barriers between its member states have on our site last week? 쐽 verb to
place or position 왍 to be sited to be
single fare /sŋ!(ə)l feə/ noun a fare
single fare
placed 쑗 The factory will be sited near the

or ticket for one journey from one place to motorway.
another 쑗 I want two singles to London.
site engineer /sat end$nə/ noun
site engineer
single-figure inflation /sŋ!(ə)l

single-figure inflation |
an engineer in charge of a building being

f!ə nfleʃ(ə)n/ noun inflation rising
|
constructed
at less than 10% per annum
sit-in /st n/ noun a strike where the
sit-in
single premium policy /sŋ!(ə)l

single premium policy
employees stay in their place of work and

primiəm pɒlsi/ noun an insurance refuse to work or leave (NOTE: The plural
policy where only one premium is paid is sit-ins.)
rather than regular annual premiums sitting tenant /stŋ tenənt/ noun a
sitting tenant
single ticket /sŋ!(ə)l tkt/ noun a

single ticket
tenant who is occupying a building when

ticket for one journey from one place to the freehold or lease is sold 쑗 The block of
another flats is for sale with four flats vacant and
single union agreement /sŋ!(ə)l two with sitting tenants.
single union agreement
junjən ə!rimənt/ noun agreement| situated /stʃuetd/ adjective placed

situated
between management and one union, that 쑗 The factory is situated on the edge of
the union will represent all the workers in the town. 쑗 The office is situated near the
the company (whatever type of job they railway station.
have) situation /stʃu eʃ(ə)n/ noun 1. a
situation
sink / sŋk/ verb 1. to go down suddenly

sink
state of affairs 쑗 the financial situation of

쑗 Prices sank at the news of the closure of a company 쑗 the general situation of the
the factory. 2. to invest money into some- economy 2. a job 3. a place where some-
thing 쑗 He sank all his savings into a car- thing is 쑗 The factory is in a very pleasant
hire business. (NOTE: sinking – sank – situation by the sea.
sunk) situations vacant /stʃueʃ(ə)nz
situations vacant
sinking fund /sŋkŋ fnd/ noun a vekənt/ noun a list in a newspaper of

sinking fund
fund built up out of amounts of money put jobs which are available
aside regularly to meet a future need, such sixth decile /sksθ desaəl/ noun a
sixth decile
as the repayment of a loan number below which sixty percent of

sir /s&/ noun 왍 Dear Sir way of address- numbers fall 쑗 This group falls within the
sir
ing a letter to a man whom you do not sixth decile of consumers.

know or to a limited company 왍 Dear size /saz/ noun measurements of some-
size
Sirs way of addressing a letter to a firm thing, of how big something is or of how
size of firm 382

many there are of something 쑗 What is slander /slɑndə/ noun an untrue spo-
slander
the size of the container? 쑗 The size of the ken statement which damages someone’s
staff has doubled in the last two years. 쑗 character 왍 action for slander, slander
This packet is the maximum size allowed action case in a law court where someone
by the post office. says that another person had slandered
size of firm /saz əv f&m/ noun a him or her 쐽 verb 왍 to slander someone
size of firm
method of classifying companies accord- to damage someone’s character by saying

ing to their size used in government statis- untrue things about him or her. Compare
tics. Companies are usually classified ei- libel
ther as microbusinesses, small business- slash /slʃ/ verb to reduce something
slash
es, medium-sized businesses, or large- sharply 쑗 We have been forced to slash

sized businesses. credit terms. 쑗 Prices have been slashed
skeleton staff /skelt(ə)n stɑf/
skeleton staff
in all departments. 쑗 The banks have

noun a small number of staff who are left slashed interest rates.
to carry on essential work while most of
sleeper /slipə/ noun a share which has
sleeper
the workforce is away

not risen in value for some time, but
skid /skd/ noun US a flat wooden base
skid
which may suddenly do so in the future

on which goods can be stacked for easy
sleeping partner /slipŋ pɑtnə/
sleeping partner
handling by a fork-lift truck (NOTE: The

UK term is pallet.) noun a partner who has a share in the
skill /skl/ noun an ability to do some-
skill
business but does not work in it
slide /slad/ verb to move down steadily
slide
thing because you have been trained 쑗 We

are badly in need of technical skills now 쑗 Prices slid after the company reported
that we have computerised the production a loss. (NOTE: sliding – slid)
line. 쑗 She has acquired some very useful sliding /sladŋ/ adjective rising in
sliding
office management skills. 쑗 He was not steps

appointed because he didn’t have the
sliding scale /sladŋ skel/ noun a
sliding scale
skills required for the job.

list of charges which rises gradually ac-
‘Britain’s skills crisis has now reached
such proportions that it is affecting the cording to value, quantity, time, etc.
slight /slat/ adjective not very large,
slight
nation’s economic growth’ [Personnel

Today] not very important 쑗 There was a slight
‘…we aim to add the sensitivity of a new improvement in the balance of trade. 쑗
European to the broad skills of the new We saw a slight increase in sales in Feb-
professional manager’ [Management To- ruary.
day] slightly /slatli/ adverb not very much
slightly
skilled /skld/ adjective having learnt

skilled
쑗 Sales fell slightly in the second quarter.

certain skills 쑗 The Swiss bank is offering slightly bet-
skilled workers /skld w&kəz/,
skilled workers
ter terms.
skilled labour /skld lebə/ noun work-
slip /slp/ noun 1. a small piece of paper
slip
ers who have special skills or who have

2. a mistake 쑗 He made a couple of slips
had long training
in calculating the discount. 쐽 verb to go
SKU /es ke ju/ noun a unique code
SKU
down and back 쑗 Profits slipped to

made up of numbers or letters and num- £1.5m. 쑗 Shares slipped back at the close.
bers which is assigned to a product by a (NOTE: slipping – slipped)
retailer for identification and stock con-
trol. Full form stockkeeping unit ‘…with long-term fundamentals reasona-
bly sound, the question for brokers is when
slack /slk/ adjective not busy 쑗 Busi-
slack
does cheap become cheap enough? The

ness is slack at the end of the week. 쑗 Jan- Bangkok and Taipei exchanges offer low-
uary is always a slack period. 쑗 The fore- er p/e ratios than Jakarta, but if Jakarta p/e
man decided to tighten up on slack work- ratios slip to the 16–18 range, foreign in-
ers. vestors would pay more attention to it’
slacken off phrasal verb to become [Far Eastern Economic Review]
less busy 쑗 Trade has slackened off. slip up phrasal verb to make a mistake
slack season /slk siz(ə)n/ noun a 쑗 We slipped up badly in not signing the
slack season
period when a company is not very busy agreement with the Chinese company.
383 small-scale enterprise

slip-up /slp p/ noun a mistake 쑗 slush fund /slʃ fnd/ noun money
slip-up slush fund
There has been a slip-up in the customs kept to one side to give to people to per-
documentation. (NOTE: The plural is slip- suade them to do what you want 쑗 The
ups.) government was brought down by the
slot /slɒt/ noun the period of time avail-
slot
scandal over the slush funds. 쑗 The party
able for a TV or radio commercial 쑗 They was accused of keeping a slush fund to
took six 30-second slots at peak viewing pay foreign businessmen.
small ads /smɔl dz/ plural noun
small ads
time.
slow /sləυ/ adjective not going fast 쑗 short private advertisements in a newspa-
slow
The sales got off to a slow start, but per, e.g. selling small items or asking for
picked up later. 쑗 Business is always slow jobs
small and medium-sized enter-
small and medium-sized enterprises
after Christmas. 쑗 They were slow to re-

ply or slow in replying to the customer’s prises /smɔl ən midiəm sazd
complaints. 쑗 The board is slow to come entəprazz/ plural noun organisations
to a decision. 쑗 There was a slow im- that have between 10 and 500 employees
provement in sales in the first half of the and are usually in the start-up or growth
year. 쐽 verb to go less fast stage of development. Abbreviation
‘…cash paid for stock: overstocked lines, SMEs
small business / smɔl bzns/ noun
small business
factory seconds, slow sellers’ [Australian

Financial Review] a little company with low turnover and
‘…a general price freeze succeeded in few employees
slowing the growth in consumer prices’ small businessman /smɔl
small businessman
[Financial Times] bznsmn/ noun a man who owns a

‘…the fall in short-term rates suggests a small business
slowing economy’ [Financial Times] small change /smɔl tʃend$/ noun
small change
slow down phrasal verb to stop rising, coins

moving or falling, or to make something
small claim /smɔl klem/ noun a
small claim
go more slowly 쑗 Inflation is slowing

down. 쑗 The fall in the exchange rate is claim for less than £5000 in the County
slowing down. 쑗 The management de- Court
small claims court /smɔl klemz
small claims court
cided to slow down production.

slowdown /sləυdaυn/ noun a reduc-
slowdown
kɔt/ noun a court which deals with dis-
tion in business activity 쑗 a slowdown in putes over small amounts of money
small company /smɔl kmp(ə)ni/
small company
the company’s expansion

slow payer /sləυ peə/ noun a person
slow payer
noun a company with at least two of the
or company that does not pay debts on following characteristics: a turnover of
time 쑗 The company is well known as a less than £2.0m;, fewer than 50 staff, net
slow payer. assets of less than £975,000
small investor /smɔl nvestə/ noun
small investor
sluggish /sl!ʃ/ adjective not moving

sluggish
|
very fast 쑗 The economy is still sluggish, a person with a small sum of money to in-
and is taking a long time to get out of re- vest
small print /smɔl prnt/ noun items
small print
cession.
‘…the association said sluggish earnings printed at the end of an official document
by supermarkets are due to consumers’ such as a contract in smaller letters than
concern about income and job prospects’ the rest of the text. People sometimes do
[Nikkei Weekly] not pay attention to the small print, but it
slump /slmp/ noun 1. a rapid fall 쑗 the
slump
can contain important information, and
slump in the value of the pound 쑗 We ex- unscrupulous operators may deliberately
perienced a slump in sales or a slump in try to hide things such as additional
profits. 2. a period of economic collapse charges, unfavourable terms, or loopholes
with high unemployment and loss of trade in it.
small-scale /smɔl skel/ adjective
small-scale
쑗 We are experiencing slump conditions.

3. the world economic crisis of 1929 – working in a small way, with few staff and
1933 쐽 verb to fall fast 쑗 Profits have not much money
slumped. 쑗 The pound slumped on the small-scale enterprise /smɔl skel
small-scale enterprise
foreign exchange markets. entəpraz/ noun a small business

small shopkeeper 384

small shopkeeper /smɔl ʃɒpkipə/ social audit /səυʃ(ə)l ɔdt/ noun a
small shopkeeper social audit
noun an owner of a small shop systematic assessment of an organisa-

smart card /smɑt kɑd/ noun a credit tion’s effects on society or on all those
smart card
card with a microchip, used for withdraw- who can be seen as its stakeholders. A so-
ing money from ATMs, or for purchases cial audit covers such issues as internal
at EFTPOS terminals codes of conduct, business ethics, human
smart market /smɑt mɑkt/ noun a
smart market
resource development, environmental im-
market where all business is conducted pact, and the organisation’s sense of so-
electronically using network communica- cial responsibility. 쑗 The social audit fo-
cused on the effects of pollution in the ar-
tions
ea. 쑗 The social audit showed that the
smartsizing /smɑtsazŋ/ noun the
smartsizing
factory could provide jobs for five per

process of reducing the size of a company cent of the unemployed in the small town
by making incompetent and inefficient nearby.
employees redundant social capital /səυʃ(ə)l kpt(ə)l/
social capital
smash /smʃ/ verb to break (a record),

smash
noun the social and interpersonal skills of

to do better than (a record) 쑗 The factory employees, considered as an intangible
is aiming to smash all production records asset of an organisation
this year. 쑗 Sales have smashed all social overhead capital /səυʃ(ə)l
social overhead capital
records for the first half of the year. əυvəhed kpt(ə)l/ noun same as in-
SMEs
SMEs abbr small and medium-sized en- frastructure

terprises social security /səυʃ(ə)l s
social security
kjυərti/, social insurance /səυʃ(ə)l

smokestack industries
smokestack industries
/sməυkstk ndəstriz/ plural noun nʃυərəns/ noun a government scheme
|
heavy industries, such as steel-making where employers, employees and the self-
smuggle /sm!(ə)l/ verb to take employed make regular contributions to a
smuggle
goods illegally into a country or without fund which provides unemployment pay,
declaring them to customs 쑗 They had to sickness pay and retirement pensions 쑗
smuggle the spare parts into the country. He gets weekly social security payments.
smuggler /sm!lə/ noun a person
smuggler
쑗 She never worked but lived on social se-
who smuggles curity for years.
social system /səυʃ(ə)l sstəm/
social system
smuggling / sm!lŋ/ noun the prac-

smuggling
tice of taking goods illegally into a coun- noun the way society is organised
society /səsaəti/ noun 1. the way in
society
try or without declaring them to customs |
쑗 They made their money in arms smug- which the people in a country are organ-
gling. ised 2. a club for a group of people with
snap /snp/ adjective rapid or sudden 쑗
snap
the same interests 쑗 We have joined a
they carried out a snap inspection of the computer society.
socio-economic /səυʃiəυ ikə
socio-economic
expense accounts 쑗 The board came to a |
snap decision. nɒmk/ adjective referring to social and

snap up phrasal verb to buy something economic conditions, social classes and
quickly 쑗 to snap up a bargain 쑗 She income groups 쑗 We have commissioned
snapped up 15% of the company’s a thorough socio-economic analysis of
shares. (NOTE: snapping – snapped) our potential market.
COMMENT: The British socio-economic
snip /snp/ noun a bargain (informal) 쑗
snip
groups are: A: upper middle class:

These printers are a snip at £50. senior managers, administrators, civil
soar /sɔ/ verb to go up rapidly 쑗 Share
soar
servants and professional people; B:
middle class: middle-ranking manag-
prices soared on the news of the takeover ers, administrators, civil servants and
bid or the news of the takeover bid sent professional people; C1: lower middle
share prices soaring. 쑗 The news of the class: junior managers and clerical staff;
takeover bid sent share prices soaring. 쑗 C2: skilled workers: workers with spe-
Food prices soared during the cold cial skills and qualifications; D: working
weather. class: unskilled workers and manual
workers; E: subsistence level: pen-
social /səυʃ(ə)l/ adjective referring to
social
sioners, the unemployed and casual

society in general manual workers.
385 sort
socio-economic groups /səυʃiəυ which is not legally binding, but which all
socio-economic groups
ikənɒmk !rups/ plural noun groups

| parties are supposed to obey
in society divided according to income sole owner /səυl əυnə/ noun a per-
sole owner
and position son who owns a business on their own,

COMMENT: The British socio-economic with no partners, and has not formed a
groups are: A: upper middle class: company
senior managers, administrators, civil
sole proprietor /səυl prəpraətə/,
sole proprietor
servants and professional people; B: |
middle class: middle-ranking manag- sole trader /səυl tredə/ noun a person
ers, administrators, civil servants and who runs a business, usually by them-
professional people; C1: lower middle selves, but has not registered it as a com-
class: junior managers and clerical staff; pany
C2: skilled workers: workers with spe-
solicit /səlst/ verb 왍 to solicit orders
solicit
cial skills and qualifications; D: working |
class: unskilled workers and manual to ask for orders, to try to get people to or-
workers; E: subsistence level: pension- der goods
ers, the unemployed and casual manual solicitor /səlstə/ noun (in England
solicitor
workers.
|
and Wales) a lawyer who has passed the

soft currency /sɒft krənsi/ noun
soft currency
examinations of the Law Society and has

the currency of a country with a weak a valid certificate to practise and who
economy, which is cheap to buy and diffi- gives advice to members of the public and
cult to exchange for other currencies. Op- acts for them in legal matters 왍 to in-
posite hard currency struct a solicitor to give orders to a solic-
soft landing /sɒft lndŋ/ noun a
soft landing
itor to act on your behalf

change in economic strategy to counteract solus (advertisement) / səυləs əd
solus
inflation, which does not cause unem- v&tsmənt/ noun an advertisement

ployment or a fall in the standard of liv- which does not appear near other adver-
ing, and has only minor effects on the tisements for similar products
bulk of the population
solution /səluʃ(ə)n/ noun the answer
solution
soft loan /sɒft ləυn/ noun a loan from

soft loan |
to a problem 쑗 to look for a solution to the

a company to an employee or from one company’s financial problems 쑗 to look
government to another at a very low rate for a solution to the company’s manpower
of interest or with no interest payable at crisis 쑗 The programmer came up with a
all solution to the systems problem. 쑗 We
soft market /sɒft mɑkt/ noun a
soft market
think we have found a solution to the

market where there is not enough de- problem of getting skilled staff.
mand, and where prices fall solution brand /səluʃ(ə)n brnd/
solution brand
soft sell /sɒft sel/ noun the process of

|
soft sell
noun a combination of a product and re-

persuading people to buy, by encouraging lated services, e.g. a computer system
and not forcing them to do so plus installation and maintenance, that
software /sɒftweə/ noun computer
software
meets a customer’s needs more effective-

programs ly than the product on its own
sole / səυl/ adjective only solve /sɒlv/ verb to find an answer to a
sole
solve
sole agency /səυl ed$ənsi/ noun an problem 쑗 The loan will solve some of
sole agency
agreement to be the only person to repre- our short-term problems. 쑗 The new rates
sent a company or to sell a product in a of pay should solve some of our short-
particular area 쑗 He has the sole agency term recruitment problems.
for Ford cars. solvency /sɒlv(ə)nsi/ noun the state
solvency
sole agent /səυl ed$ənt/ noun a per- of being able to pay all debts on due date.
sole agent
son who has the sole agency for a compa- Opposite insolvency
ny in an area 쑗 She is the sole agent for solvent /sɒlv(ə)nt/ adjective having
solvent
Ford cars in the locality. enough money to pay debts 쑗 When she
sole distributor /səυl dstrbjυtə/ bought the company it was barely solvent.
sole distributor
noun a retailer who is the only one in an sort /sɔt/ verb to put (a lot of things) in
sort
area who is allowed to sell a product order 쑗 She is sorting index cards into al-
solemn /sɒləm/ adjective 왍 solemn phabetical order.
solemn
and binding agreement an agreement sort out phrasal verb 1. to put into or-
sort field 386

der 쑗 Did you sort out the accounts Too wide a span of control can lead to in-
problem with the auditors? 2. to settle a efficient supervision.
problem spare /speə/ adjective extra, not being
spare
sort field /sɔt fild/ noun a special used 쑗 He has invested his spare capital
sort field
area of computer storage used to identify in a computer shop. 왍 to use up spare ca-
data so that it can be easily classified and pacity to make use of time or space which
arranged in order has not been fully used
spare part /speə pɑt/ noun a small
spare part
sound /saυnd/ adjective reasonable,

sound
which can be trusted 쑗 The company’s fi- piece of machinery used to replace part of
nancial situation is very sound. 쑗 He a machine which is broken 쑗 The photo-
gave us some very sound advice. copier will not work – it needs a spare
part.
soundness /saυndnəs/ noun the state
soundness
spare time /speə tam/ noun the time

spare time
of being reasonable
when you are not at work 쑗 He built him-
source /sɔs/ noun the place where
source
self a car in his spare time.

something comes from 쑗 What is the speakerphone /spikəfəυn/ noun a
speakerphone
source of her income? 쑗 You must declare

|
telephone that has a loudspeaker and mi-

income from all sources to the tax office. crophone so that several people can listen
왍 income which is taxed at source in- to a conversation and speak
come where the tax is removed and paid
spec /spek/ noun same as specifica-
spec
to the government by the employer before

the income is paid to the employee 쐽 verb tion 왍 to buy something on spec to buy
to get supplies from somewhere 쑗 We something without being sure of its value
special /speʃ(ə)l/ adjective better than
special
source these spare parts in Germany.

source and application of funds statement
source and application of funds usual 쑗 He offered us special terms. 쑗

The car is being offered at a special price.
statement /sɔs ən plkeʃ(ə)n əv
fndz stetmənt/, sources and uses ‘…airlines offer special stopover rates and
of funds statement /sɔsz ən juzz hotel packages to attract customers to cer-
tain routes’ [Business Traveller]
əv fndz stetmənt/ noun a statement
special delivery /speʃ(ə)l d
special delivery
in a company’s annual accounts, showing |
where new funds came from during the lv(ə)ri/ noun a type of postal service for
year, and how they were used rapid delivery of letters and packets
special deposits /speʃ(ə)l d
special deposits
source credibility /sɔs kredə blti/

source credibility
|
pɒzts/ plural noun large sums of money

|
noun the image people have of someone

which will determine that person’s credi- which commercial banks have to deposit
bility with the Bank of England
specialisation /speʃəlazeʃ(ə)n/,
specialisation
sourcing /sɔsŋ/ noun the process of

sourcing |
specialization noun the act of dealing

finding suppliers of goods or services 쑗 with one specific type of product 쑗 The
The sourcing of spare parts can be diver- company’s area of specialisation is ac-
sified to suppliers outside Europe. 쒁 out- counts packages for small businesses.
sourcing
specialise / speʃəlaz/, specialize
specialise
space /spes/ noun an empty place or

space
verb to deal with one particular type of

empty area 왍 to take advertising space skill, product or service 쑗 The company
in a newspaper to place a large advertise- specialises in electronic components. 쑗
ment in a newspaper They have a specialised product line. 쑗
space out phrasal verb to place things He sells very specialised equipment for
with spaces between them 쑗 The com- the electronics industry. 쑗 After working
pany name is written in spaced-out let- in all the departments, he finally decided
ters. 쑗 Payments can be spaced out over to specialise in distribution.
a period of ten years. ‘…the group specializes in the sale, lease
span of control / spn əv kəntrəυl/
span of control
|
and rental of new and second-user hard-
noun the number and type of employees ware’ [Financial Times]
specialist /speʃəlst/ noun a person or
specialist
that a manager is responsible for super-

vising 쑗 The job has a large amount of re- company that deals with one particular
sponsibility with a wide span of control. 쑗 type of product or one subject 쑗 You
387 spending power

should go to a specialist in computers or imen signatures on a bank mandate to
to a computer specialist for advice. 쑗 We write the signatures of all the people who
need a manager who can grasp the over- can sign cheques for an account so that
all picture rather than a narrow special- the bank can recognise them
ist. speculate /spekjυlet/ verb to take a
speculate
speciality /speʃiləti/, specialty

speciality
| risk in business which you hope will bring

/speʃ(ə)lti/ noun the specific business you profits 왍 to speculate on the Stock
interest or specific type of product that a Exchange to buy shares which you hope
company has 쑗 Their speciality is compu- will rise in value
ter programs. speculation /spekjυleʃ(ə)n/ noun a
speculation
special offer /speʃ(ə)l ɒfə/ noun a

special offer
risky deal which may produce a short-

situation where goods are put on sale at a term profit 쑗 He bought the company as a
specially low price 쑗 We have a range of speculation. 쑗 She lost all her money in
men’s shirts on special offer. Stock Exchange speculations.
special resolution /speʃ(ə)l rezə
special resolution
speculative bubble / spekjυlətv

speculative bubble
|
luʃ(ə)n/ noun a resolution concerning bb(ə)l/ noun same as bubble

an important matter, such as a change to
speculative builder /spekjυlətv
speculative builder
the company’s articles of association

which is only valid if it is approved by bldə/ noun a builder who builds houses
75% of the votes cast at a meeting in the hope that someone will want to buy
COMMENT: 21 days’ notice must be given
them
speculative share /spekjυlətv ʃeə/
speculative share
for a special resolution to be put to a

meeting, as opposed to an ‘extraordinary noun a share which may go sharply up or
resolution’ for which notice must be giv- down in value
en, but no minimum period is specified
speculator /spekjυletə/ noun a per-
speculator
by law. An extraordinary resolution could

be a proposal to wind up a company vol- son who buys goods, shares or foreign
untarily, but changes to the articles of as- currency in the hope that they will rise in
sociation, such as a change of name, or value 쑗 a property speculator 쑗 a curren-
of the objects of the company, or a re-
duction in share capital, need a special cy speculator 쑗 a speculator on the Stock
resolution. Exchange or a Stock Exchange speculator
specialty store /speʃ(ə)lti stɔ/ noun
specialty store
speed up phrasal verb to make some-
US a shop selling a limited range of items thing go faster 쑗 We are aiming to
of good quality speed up our delivery times.
spend /spend/ verb 1. to pay money 쑗
spend
specie /spiʃi/ noun money in the

specie
form of coins They spent all their savings on buying the

specification
specification
/spesf keʃ(ə)n/
shop. 쑗 The company spends thousands
of pounds on research. 2. to use time 쑗
|
noun detailed information about what or

who is needed or about a product to be The company spends hundreds of person-
supplied 쑗 to detail the specifications of a hours on meetings. 쑗 The chairman spent
computer system 왍 to work to standard yesterday afternoon with the auditors.
specifications to work to specifications (NOTE: spending – spent) 쐽 noun an
which are acceptable anywhere in an in- amount of money spent 쑗 What’s the an-
dustry 왍 the work is not up to specifica- nual spend on marketing?
spending /spendŋ/ noun the act of
spending
tion or does not meet our specifications

the product is not made in the way which paying money for goods and services 쑗
was detailed Both cash spending and credit card
specify /spesfa/ verb to state clearly
specify
spending increase at Christmas.
spending money /spendŋ mni/
spending money
what is needed 쑗 to specify full details of

the goods ordered 쑗 Do not include VAT noun money for ordinary personal ex-
on the invoice unless specified. 쑗 Candi- penses
dates are asked to specify which of the spending power /spendŋ paυə/
spending power
three posts they are applying for. (NOTE: noun 1. the fact of having money to spend
specifies – specifying – specified) on goods 쑗 the spending power of the stu-
specimen /spesmn/ noun something
specimen
dent market 2. the amount of goods which

which is given as a sample 왍 to give spec- can be bought for a sum of money 쑗 The
sphere 388
spending power of the pound has fallen vestors may be put off, and trading in the
over the last ten years. share is restricted). In the UK, a share
price of £10.00 is considered ‘heavy’,
sphere /sfə/ noun an area 쑗 a sphere of
sphere
though such prices are common on other

activity 쑗 a sphere of influence stock markets.
spin off phrasal verb 왍 to spin off a split commission /splt kəmʃ(ə)n/
split commission
subsidiary company to split off part of noun a commission which is divided be-
a large company to form a smaller sub- tween brokers or agents
sidiary, giving shares in this to the exist-
split-level investment trust /splt
split-level investment trust
ing shareholders
lev(ə)l nvestmənt trst/ noun an in-
spin doctor /spn dɒktə/ noun a per-
spin doctor |
vestment trust with two categories of

son who explains news in a way that shares: income shares which receive in-
makes it flattering to the person or organ- come from the investments, but do not
isation employing him or her (informal) 쑗 benefit from the rise in their capital value,
Government spin doctors have been hav- and capital shares, which increase in val-
ing some difficulty in dealing with the ue as the value of the investments rises,
news items about the rise in unemploy- but do not receive any income. Also
ment. called split trust, split-capital trust
spinoff /spnɒf/ noun 1. a useful prod-
spinoff
split payment /splt pemənt/ noun

split payment
uct developed as a secondary product

from a main item 쑗 One of the spinoffs of a payment which is divided into small
the research programme has been the de- units
split trust /splt trst/ noun same as
split trust
velopment of the electric car. 2. a corpo-

rate reorganisation in which a subsidiary split-level investment trust
becomes an independent company spoil /spɔl/ verb to ruin, to make some-
spoil
spiral /sparəl/ noun something which thing bad 쑗 Half the shipment was
spiral
twists round and round getting higher all spoiled by water. 쑗 The company’s results
the time 쐽 verb to twist round and round, were spoiled by a disastrous last quarter.
getting higher all the time 쑗 a period of sponsor /spɒnsə/ noun 1. a person
sponsor
spiralling prices 왍 spiralling inflation who recommends another person for a job
inflation where price rises make employ- 2. a company which pays part of the cost
ees ask for higher wages which then in- of making a TV programme by taking ad-
crease prices again vertising time on the programme 3. a per-
splash page /splʃ ped$/ noun a
splash page
son or company which pays money to

page, usually containing advertisements, help research or to pay for a business ven-
that is displayed to visitors to a website ture 4. a company which pays to help a
before they reach the homepage sport, in return for advertising rights 쐽
split /splt/ noun 1. an act of dividing up verb 1. to act as a sponsor for something
split
왍 the company is proposing a five for 쑗 a government-sponsored trade exhibi-

one split the company is proposing that tion 쑗 The company has sponsored the
each existing share should be divided into football match. 쑗 Six of the management
five smaller shares 2. a lack of agreement trainees have been sponsored by their
쑗 a split in the family shareholders 쐽 companies. 2. US to play an active part in
verb 1. 왍 to split shares to divide shares something, such as a pension plan for em-
into smaller denominations 왍 the shares ployees 쑗 If you’re single and not covered
were split five for one five new shares by an employer-sponsored retirement
were given for each existing share held 2. plan.
왍 to split the difference to come to an sponsorship /spɒnsəʃp/ noun the
sponsorship
agreement over a price by dividing the act of sponsoring 쑗 the sponsorship of a

difference between the amount the seller season of concerts 쑗 The training course
is asking and amount the buyer wants to could not be run without the sponsorship
pay and agreeing on a price between the of several major companies.
two 쐽 adjective divided into parts spot /spɒt/ noun 1. a place for an adver-
spot
COMMENT: A company may decide to

split its shares if the share price be- tisement on a TV or radio show 2. the
comes too ‘heavy’ (i.e. each share is buying of something for immediate deliv-
priced at such a high level that small in- ery
389 staff
spot cash /spɒt kʃ/ noun cash paid squared paper /skweəd pepə/
spot cash squared paper
for something bought immediately noun paper printed with a series of small
spot market /spɒt mɑkt/ noun a squares, like graph paper
spot market
market that deals in commodities or for- square measure /skweə me$ə/

square measure
eign exchange for immediate rather than noun an area in square feet or metres, cal-
future delivery culated by multiplying width and length
‘…with most of the world’s oil now traded Square Mile /skweə mal/ noun the
Square Mile
on spot markets, Opec’s official prices are City of London, the British financial cen-
much less significant than they once were’ tre
[Economist]
squeeze /skwiz/ noun government
squeeze
spot price /spɒt pras/, spot rate

spot price
/spɒt ret/ noun a current price or rate control carried out by reducing the avail-
ability of something 쐽 verb to crush or to
for something which is delivered immedi-
ately. Also called cash price press; to make smaller 쑗 to squeeze mar-
gins or profits or credit
‘…the average spot price of Nigerian light
crude oil for the month of July was 27.21 ‘…the real estate boom of the past three
dollars per barrel’ [Business Times (La- years has been based on the availability of
gos)] easy credit. Today, money is tighter, so
property should bear the brunt of the credit
spread /spred/ noun 1. same as range
spread
squeeze’ [Money Observer]

왍 he has a wide spread of investments, SRO
of interests he has shares in many differ- SRO abbr self-regulatory organisation

SSP
ent types of companies 2. the difference SSP abbr statutory sick pay
between buying and selling prices, i.e. be-
St
St abbr street
tween the bid and offer prices 쐽 verb to stabilisation
stabilisation /steblazeʃ(ə)n/,
|
space something out over a period of time stabilization noun the process of mak-
쑗 to spread payments over several ing something stable, e.g. preventing sud-
months 왍 to spread a risk to make the den changes in prices 왍 stabilisation of
risk of insurance less great by asking oth- the economy keeping the economy stable
er companies to help cover it by preventing inflation from rising, cut-
‘…dealers said markets were thin, with ting high interest rates and excess money
gaps between trades and wide spreads be- supply
tween bid and ask prices on the currencies’
stabilise /stebəlaz/, stabilize verb
stabilise
[Wall Street Journal]

‘…to ensure an average return you should to become steady, or to make something
hold a spread of different shares covering steady 왍 prices have stabilised prices
a wide cross-section of the market’ have stopped moving up or down 왍 to
[Investors Chronicle] have a stabilising effect on the economy
spreadsheet /spredʃit/ noun a com-
spreadsheet
to make the economy more stable
stability / stəblti/ noun the state of
stability
puter printout or program that shows a se- |
ries of columns or rows of figures being steady or not moving up or down 쑗

square /skweə/ noun a way of measur-
square
price stability 쑗 a period of economic sta-
ing area, by multiplying the length by the bility 쑗 the stability of the currency mar-
width 쑗 The office is ten metres by twelve kets
stable /steb(ə)l/ adjective steady or
stable
– its area is one hundred and twenty

square metres. 쐽 adjective 1. with four not moving up or down 쑗 stable prices 쑗
right angles and four equal straight sides a stable exchange rate 쑗 a stable curren-
2. settled, not owing anything (informal) cy 쑗 a stable economy
왍 now we’re all square we do not owe staff /stɑf/ noun people who work for a
staff
each other anything 쐽 verb 왍 to square a company or organisation 쑗 The office

bill US to pay a bill 왍 to square away to staff have complained about the lack of
put (papers) in order heating. (NOTE: staff refers to a group of
square cut file /skweə kt fal/
square cut file
people and so is often followed by a plu-

noun a simple folded card file, with one ral verb.) 왍 to be on the staff or a mem-
side taller than the other, used for filing ber of staff or a staff member to be em-
documents (the file is inserted into a sus- ployed permanently by a company 쐽 verb
pension file) to employ workers 쑗 to have difficulty in
staff agency 390

staffing the factory 쑗 The department is ment 쑗 the different stages of the produc-
staffed by skilled part-timers. tion process 왍 the contract is still in the
staff agency /stɑf ed$ənsi/ noun drafting stage the contract is still being
staff agency
an agency which looks for office staff for drafted 왍 in stages in different steps 쑗
companies The company has agreed to repay the
staff appointment
staff appointment
/stɑf ə loan in stages.

/std$d
|
staged payments
staged payments
pɔntmənt/ noun a job on the staff

staff appraisal /stɑf əprez(ə)l/,
staff appraisal
|
peməntz/ plural noun payments made
staff assessment /stɑf əsesmənt/ in stages
stagflation /st!fleʃ(ə)n/ noun in-
|
stagflation
noun a report on how well a member of |
staff is working flation and stagnation happening at the

staff association /stɑf əsəυsi
staff association
same time in an economy
stagger /st!ə/ verb to arrange holi-
| stagger
eʃ(ə)n/ noun a society formed by mem-

bers of staff of a company to represent days or working hours so that they do not
them to the management and to organise all begin and end at the same time 쑗 Stag-
entertainments gered holidays help the tourist industry. 쑗
We have to stagger the lunch hour so that
staff club /stɑf klb/ noun a club for
staff club
there is always someone on the switch-

the staff of a company, which organises board. 쑗 We asked our supplier to stagger
staff parties, sports and meetings
deliveries so that the warehouse can
staffed /stɑft/ adjective with someone
staffed
cope.
working on it stagnant /st!nənt/ adjective not ac-
stagnant
staffer /stɑfə/ noun US a member of

staffer
tive, not increasing 쑗 Turnover was stag-

the permanent staff nant for the first half of the year. 쑗 A stag-
staff incentives /stɑf nsentvz/
staff incentives
| nant economy is not a good sign.

plural noun higher pay and better condi- stagnate /st!net/ verb not to in-
stagnate
tions offered to employees to make them crease, not to make progress 쑗 The econ-
work better omy is stagnating. 쑗 After six hours the
staffing /stɑfŋ/ noun the provision of
staffing
talks were stagnating.

staff for a company or the number of peo- stagnation /st!neʃ(ə)n/ noun the
stagnation
ple needed to do a work process state of not making any progress, espe-
staffing levels /stɑfŋ lev(ə)lz/ plu- cially in economic matters 쑗 The country
staffing levels
ral noun the numbers of employees re- entered a period of stagnation.

quired in a department of a company for it stake /stek/ noun an amount of money
stake
to work efficiently invested 왍 to have a stake in a business

staffing policy /stɑfŋ pɒlsi/ noun to have money invested in a business 왍 to
staffing policy
the company’s views on staff – how many acquire a stake in a business to buy
are needed for each department, if they shares in a business 쑗 He acquired a 25%
should be full-time or part-time, what the stake in the company. 쐽 verb 왍 to stake
salaries should be, etc. money on something to risk money on
staff meeting /stɑf mitŋ/ noun a
staff meeting
something
meeting of a group of staff or their repre- ‘…her stake, which she bought at $1.45
sentatives per share, is now worth nearly $10 mil-
lion’ [Times]
staff training /stɑf trenŋ / noun
staff training
the process of teaching staff better and ‘…other investments include a large stake
in a Chicago-based insurance company, as
more profitable ways of working well as interests in tobacco products and
stag /st!/ noun 1. a person who buys
stag
hotels’ [Lloyd’s List]

new issues of shares and sells them imme- stakeholder / stekhəυldə/ noun a
stakeholder
diately to make a profit 2. US a dealer in person such as a shareholder, employee or

stocks who is not a member of a Stock supplier who has a stake in a business
Exchange 쐽 verb 왍 to stag an issue to ‘…the stakeholder concept is meant to be
buy a new issue of shares not as an invest- a new kind of low-cost, flexible personal
ment, but to sell immediately at a profit pension aimed at those who are less well-
stage /sted$/ noun a period, one of
stage
off. Whether it will really encourage them

several points in a process of develop- to put aside money for retirement is a moot
391 standardisation
point. Ministers said companies would be turn postage 쑗 Please send a stamped ad-
able to charge no more than 1 per cent a dressed envelope for further details and
year to qualify for the stakeholder label’ our latest catalogue. Abbreviation s.a.e.
[Financial Times] stamp pad /stmp pd/ noun a soft
stamp pad
stakeholder pension /stekhəυldə

stakeholder pension
pad of cloth with ink on which a stamp is

penʃən/ noun a pension, provided pressed, before marking the paper
through a private company, in which the stand /stnd/ noun an arrangement of
stand
income a person has after retirement de- shelves or tables at an exhibition for
pends on the amount of contributions showing a company’s products 쐽 verb to
made during their working life (NOTE: be or to stay 왍 to stand liable for damag-
Stakeholder pensions are designed for es to be liable to pay damages 왍 the com-
people without access to an occupation- pany’s balance stands at £24,000 the
al pension scheme.) balance is £24,000
stakeholder theory /stekhəυldə
stakeholder theory
stand down phrasal verb to withdraw

θər/ noun the theory that it is possible your name from an election 쑗 At the last
for an organisation to promote the inter- minute the two other candidates stood
ests of its shareholders without harming down, so she was elected chairman.
the interests of its other stakeholders such stand in for phrasal verb to take some-
as its employees, suppliers and the wider one’s place 쑗 Mrs Smith is standing in
community for the chairman, who is ill. (NOTE:
stakeholder value analysis
stakeholder value analysis
standing – stood)
/stekhəυldə vlju ənləss/ noun a |
standard /stndəd/ noun the usual
standard
form of analysis that identifies the various quality or usual conditions which other
people and organisations who have a things are judged against 왍 up to stand-
stake in a company and finds out their ard of acceptable quality 쑗 This batch is
views on various issues so that these not up to standard or does not meet our
views may be taken into account when standards. 쐽 adjective normal or usual 쑗
making strategic and operational deci- a standard model car 쑗 We have a stand-
sions ard charge of £25 for a thirty-minute ses-
stall /stɔl/ noun a small moveable
stall
sion.
wooden booth, used for selling goods in a standard agreement /stndəd ə
standard agreement
market !rimənt/, standard contract

stallholder /stɔlhəυldə/ noun a per- /stndəd kɒntrkt/ noun a normal
stallholder
son who has a stall in a market and pays printed contract form
rent for the site it occupies Standard & Poor’s /stndəd ən
Standard & Poor’s
stamp /stmp/ noun a device for mak- pυəz/ noun an American corporation
stamp
ing marks on documents; a mark made in which rates bonds according to the credit-
this way 쑗 The invoice has the stamp ‘Re- worthiness of the organisations issuing
ceived with thanks’ on it. 쑗 The customs them. Abbreviation S&P
officer looked at the stamps in her pass- standard deduction /stndəd d
standard deduction
port. 왍 rubber stamp stamp made of

|
dkʃ(ə)n/ noun US an amount that can

hard rubber cut to form words 쐽 verb 1. be deducted from income on a federal in-
to mark a document with a stamp 쑗 to come tax form, if deductions are not item-
stamp an invoice ‘Paid’ 쑗 The documents ised
were stamped by the customs officials. 2. standardisation
standardisation
/stndəda |
to put a postage stamp on an envelope or zeʃ(ə)n/, standardization noun the

parcel process of making sure that everything
stamp duty /stmp djuti/ noun a
stamp duty
fits a standard or is produced in the same

tax on legal documents such as those used way 쑗 standardisation of measurements
e.g. for the sale or purchase of shares or throughout the EU 쑗 Standardisation of
the conveyance of a property to a new design is necessary if we want to have a
owner uniform company style. 왍 standardisa-
stamped addressed envelope
stamped addressed envelope
tion of products the process of reducing

/stmpt ədrest envələυp/ noun an
| a large number of different products to a
envelope with your own address written series which have the same measure-
on it and a stamp stuck on it to pay for re- ments, design, packaging, etc.
standardise 392
standardise /stndədaz/, stand- staple product /step(ə)l prɒdkt/
standardise staple product
ardize verb to make sure that everything noun the main product
fits a standard or is produced in the same start /stɑt/ noun the beginning 쐽 verb
start
way to begin to do something 왍 to start a

standard letter /stndəd letə/ noun
standard letter
business from cold or from scratch to

a letter which is sent without change to begin a new business, with no previous
various correspondents turnover to base it on
standard of living /stndəd əv starting /stɑtŋ/ noun the act of be-
standard of living starting
lvŋ/ noun the quality of personal home ginning

life (such as amount of food or clothes starting date /stɑtŋ det/ noun a
starting date
bought, size of family car, etc.) date on which something starts

standard rate /stndəd ret/ noun a
standard rate
starting point /stɑtŋ pɔnt/ noun

starting point
basic rate of income tax which is paid by the place where something starts
most taxpayers
starting salary /stɑtŋ sləri/
starting salary
Standard Time /stndəd tam/ noun

Standard Time
noun a salary for an employee when he or

normal time as in the winter months
she starts work with a company
standby arrangements /stndba
standby arrangements
start-up /stɑt p/ noun 1. the begin-

start-up
ərend$mənts/ plural noun plans for

ning of a new company or new product 쑗
|
what should be done if an emergency hap-

pens, especially money held in reserve in We went into the red for the first time be-
the International Monetary Fund for use cause of the start-up costs of the new sub-
by a country in financial difficulties sidiary in the USA. 2. a new, usually small
business that is just beginning its opera-
standby credit /stndba kredt/
standby credit
tions, especially a new business supported

noun credit which is available if a compa- by venture capital and in a sector where
ny needs it, especially credit guaranteed new technologies are used
by a euronote
start-up financing /stɑt p
start-up financing
standby fare /stndba feə/ noun a

standby fare
fannsŋ/ noun the first stage in fi-

cheap fare for a standby ticket nancing a new project, which is followed
standby ticket /stndba tkt/
standby ticket
by several rounds of investment capital as

noun a cheap air ticket which allows the the project gets under way (NOTE: The
passenger to wait until the last moment to plural is start-ups.)
see if there is an empty seat on the plane
start-up model /stɑt p mɒd(ə)l/
start-up model
standing /stndŋ/ noun a good repu-

standing
noun a business model in which the ob-

tation 쑗 The financial standing of a com- jective is rapid short-term success. In this
pany. 왍 company of good standing very model the typical aim is to acquire ven-
reputable company ture capital, grow, then quickly float the
standing order /stndŋ ɔdə/ noun
standing order
company on the stock exchange or sell it

an order written by a customer asking a off, so as to produce profit for the found-
bank to pay money regularly to an ac- ers but not necessarily for the business.
count 쑗 I pay my subscription by standing state /stet/ noun 1. an independent
state
order. country 2. a semi-independent section of

standstill /stndstl/ noun a situation
standstill
a federal country such as the USA 3. the

where work has stopped 쑗 Production is government of a country 쐽 verb to say
at a standstill. 쑗 The strike brought the clearly 쑗 The document states that all
factory to a standstill. revenue has to be declared to the tax of-
staple /step(ə)l/ verb 왍 to staple pa-
staple
fice.
pers together to attach papers with sta- ‘…the unions had argued that public sec-
ples 쑗 He could not take away separate tor pay rates had slipped behind rates ap-
pages, because the documents were sta- plying in state and local government areas’
pled together. [Australian Financial Review]
staple commodity /step(ə)l kə state bank / stet bŋk/ noun in the
staple commodity
state bank
mɒdti/ noun a basic food or raw mate- USA, a commercial bank licensed by the
rial authorities of a state, and not necessarily
staple industry /step(ə)l ndəstri/ a member of the Federal Reserve system,
staple industry
noun the main industry in a country as opposed to a national bank

393 statutory holiday

state-controlled /stet kəntrəυld/ statistical analysis of the opinion-poll da-
state-controlled
adjective run by the state 쑗 state-control- ta.

led television statistical discrepancy /stə
statistical discrepancy
state enterprise /stet entəpraz/ tstk(ə)l dskrepənsi/ noun the

state enterprise
noun a company run by the state amount by which sets of figures differ
statement /stetmənt/ noun 1. some- statistician /sttstʃ(ə)n/ noun a
statement statistician
thing said or written which describes or person who analyses statistics

explains something clearly 왍 to make a statistics /stətstks/ plural noun 1.
statistics
false statement to give wrong details 왍

|
facts or information in the form of figures

statement of expenses a detailed list of 쑗 to examine the sales statistics for the
money spent 2. 왍 statement (of account) previous six months 쑗 Government trade
a list of invoices and credits and debits statistics show an increase in imports. 쑗
sent by a supplier to a customer at the end The statistics on unemployment did not
of each month 왍 monthly or quarterly take school-leavers into account. (NOTE:
statement a statement which is sent every takes a plural verb) 2. the study of facts
month or every quarter by the bank in the form of figures (NOTE: takes a sin-
state of emergency /stet əv 
state of emergency
| gular verb)
m&d$ənsi/ noun the government decid- status /stetəs/ noun 1. the importance
status
ed that the situation was so dangerous that of someone or something relative to oth-
the police or army had to run the country ers, especially someone’s position in soci-
state of indebtedness /stet əv n ety 왍 the chairman’s car is a status
state of indebtedness
detdnəs/ noun the fact of being in debt, symbol the size of the car shows how im-
owing money portant the chairman is 왍 loss of status
state-of-the-art /stet əv ði ɑt/ ad-
state-of-the-art
the act of becoming less important in a

jective as technically advanced as possi- group 2. 왍 legal status legal position
ble status inquiry /stetəs nkwaəri/
status inquiry
‘…each year American manufacturers in- noun an act of checking on a customer’s

crease their budget for state-of-the-art credit rating
computer-based hardware and software’
status quo /stetəs kwəυ/ noun the
status quo
[Duns Business Month]

state of things as they are now 쑗 The con-
state-owned /stet əυnd/ adjective
state-owned
tract does not alter the status quo.

owned by the state or by a state
statute /sttʃut/ noun an established
statute
‘…state-owned banks cut their prime rates

a percentage point to 11%’ [Wall Street written law, especially an Act of Parlia-
Journal] ment. Also called statute law
statute book /sttʃut bυk/ noun all
statute book
state-owned industry /stet əυnd

state-owned industry
ndəstri/ noun an industry which is na- laws passed by Parliament which are still
tionalised in force
statute law /sttʃut lɔ/ noun same
statute law
state ownership /stet əυnəʃp/

state ownership
noun a situation in which an industry is as statute

statute of limitations /sttʃut əv
statute of limitations
nationalised
static market /sttk mɑkt/ noun
static market
lmteʃ(ə)nz/ noun a law which allows

|
a market which does not increase or de- only a fixed period of time, usually six
crease significantly over a period of time years, for someone to start legal proceed-
stationery /steʃ(ə)n(ə)ri/ noun 1. of-
stationery
ings to claim property or compensation
fice supplies for writing, such as paper, for damage
statutory /sttʃυt(ə)ri/ adjective
statutory
carbons, pens, etc. 쑗 We use the same sta-

tionery supplier for all our office station- fixed by law 쑗 There is a statutory period
ery. 2. in particular, letter paper, enve- of probation of thirteen weeks. 쑗 Are all
lopes, etc., with the company’s name and the employees aware of their statutory
address printed on them 쑗 The letter was rights?
typed on his office stationery. statutory holiday /sttʃυt(ə)ri
statutory holiday
statistical /stətstk(ə)l/ adjective hɒlde/ noun a holiday which is fixed

statistical
based on statistics 쑗 statistical informa- by law 쑗 The office is closed for the stat-
tion 쑗 They took two weeks to provide the utory Christmas holiday.
statutory regulations 394

statutory regulations /sttʃυt(ə)ri
statutory regulations
steep increase in interest charges 쑗 a

re!jυleʃ(ə)nz/ plural noun regulations
|
steep decline in overseas sales
covering financial dealings which are steeply /stipli/ adverb sharply, sud-
steeply
based on Acts of Parliament, such as the denly 쑗 Prices rose steeply after the
Financial Services Act, as opposed to the budget.
rules of self-regulatory organisations ‘…if oil prices should fall steeply it may
which are non-statutory lead to an equally steep fall in naira value
statutory sick pay /sttʃυt(ə)ri sk
statutory sick pay
if supply cannot meet demand. Then there

pe/ noun payment made each week by might be political consequences if devalu-
an employer to an employee who is away ation leads to inflation’ [Business
from work because of sickness. Abbrevi- in Africa]
stenographer /stənɒ!rəfə/ noun an
stenographer
ation SSP |
stay /ste/ noun a length of time spent in

stay
official person who can write in shorthand
step / step/ noun 1. a type of action 쑗
step
one place 쑗 The tourists were in town

only for a short stay. 쐽 verb to stop at a The first step taken by the new MD was to
place 쑗 The chairman is staying at the analyse all the expenses. 왍 to take steps
Hotel London. 쑗 Profits have stayed be- to prevent something happening to act
low 10% for two years. 쑗 Inflation has to stop something happening 2. a move-
stayed high in spite of the government’s ment forward 쑗 Becoming assistant to the
efforts to bring it down. MD is a step up the promotion ladder. 왍
stay of execution /ste əv eks
stay of execution
in step with moving at the same rate as 쑗
The pound rose in step with the dollar. 왍
|
kjuʃ(ə)n/ noun the temporary stopping

of a legal order 쑗 The court granted the out of step with not moving at the same
company a two-week stay of execution. rate as 쑗 The pound was out of step with
other European currencies. 쑗 Wages are
steadily /stedli/ adverb in a regular or
steadily
out of step with the cost of living.

continuous way 쑗 Output increased step down phrasal verb to retire from
steadily over the last two quarters. 쑗 The a position 쑗 The chairman will be 70
company has steadily increased its mar- this month and he is stepping down from
ket share. his post to give way to his nephew.
steadiness /stednəs/ noun the fact
steadiness
(NOTE: stepping – stepped)

of being firm, not fluctuating 쑗 The ‘…the chairman of the investment bank is
steadiness of the markets is due to the to step down after less than 12 months in
government’s intervention. the job’ [Times]
steady /stedi/ adjective continuing in a step up phrasal verb to increase 쑗 The
steady
regular way 쑗 The company can point to union is stepping up its industrial ac-
a steady increase in profits. 쑗 The market tion. 쑗 The company has stepped up
stayed steady in spite of the collapse of production of the latest models. (NOTE:
the bank. 쑗 There is a steady demand for stepping – stepped)
computers. 쑗 He has a steady job in the sterling /st&lŋ/ noun a standard cur-
sterling
supermarket. 쐽 verb to become firm, to rency used in the United Kingdom 쑗 to

stop fluctuating 쑗 The markets steadied quote prices in sterling or to quote ster-
after last week’s fluctuations. 쑗 Prices ling prices
steadied on the commodity markets. 쑗 ‘…it is doubtful that British goods will
The government’s figures had a steadying price themselves back into world markets
influence on the exchange rate. as long as sterling labour costs continue to
steal /stil/ verb to take something rise faster than in competitor countries’
steal
which does not belong to you 쑗 The rival [Sunday Times]

sterling area /st&lŋ eəriə/ noun
sterling area
company stole our best clients. 쑗 One of

our biggest problems is stealing in the formerly, an area of the world where the
wine department. (NOTE: stealing – pound sterling was the main trading cur-
stole – has stolen) rency
steep / stip/ adjective referring to an in- /st&lŋ
steep sterling balances
sterling balances
crease which is very great and usually blənsz/ plural noun a country’s trade
sudden or a price which is very high 쑗 a balances expressed in pounds sterling
395 Stock Exchange

sterling crisis /st&lŋ krass/ noun uation to pay the price that stock has been
sterling crisis
a fall in the exchange rate of the pound valued at 왍 in stock available in the ware-
sterling house or store 쑗 to hold 2,000 lines in
sterling millionaire /st&lŋ mljə
sterling millionaire
|
stock 왍 to take stock to count the items in
neə/ noun a person who has more than a warehouse 3. shares in a company 4. in-
one million pounds sterling ( NOTE: To be vestments in a company, represented by
specific, you can say dollar millionaire, shares or fixed interest securities 쐽 adjec-
peso millionaire, etc.) tive usually kept in stock 쑗 Butter is a
stevedore /stivədɔ/ noun a person
stevedore
stock item for any good grocer. 쐽 verb to
who works in a port, loading or unloading hold goods for sale in a warehouse or
ships store 쑗 The average supermarket stocks
more than 4500 lines.
steward /stjuəd/ noun a man who
steward
‘US crude oil stocks fell last week by near-

serves drinks or food on a ship or plane 쑗 ly 2.5m barrels’ [Financial Times]
She called the steward and asked for a
glass of water. ‘…the stock rose to over $20 a share, high-
er than the $18 bid’ [Fortune]
stewardess /stjuədes/ noun a
stewardess
|
stock up phrasal verb to buy supplies
woman who serves drinks or food on a of something which you will need in the
ship or plane future 쑗 They stocked up with computer
stick /stk/ verb to stay still, not to move
stick
paper.
쑗 Sales have stuck at £2m for the last two stockbroker /stɒkbrəυkə/ noun a
stockbroker
years. (NOTE: sticking – stuck) person who buys or sells shares for clients
sticker /stkə/ verb to put a price stick-
sticker
stockbroker’s commission /stɒk

stockbroker’s commission
er on an article for sale 쑗 We had to stick- brəυkəz kəmʃ(ə)n/ noun the payment
|
er all the stock. to a broker for a deal carried out on behalf

stimulate /stmjυlet/ verb to make
stimulate
of a client
something or someone become more ac- stockbroking /stɒkbrəυkŋ/ noun
stockbroking
tive 쑗 What can the government do to the business of dealing in shares for cli-
stimulate the economy? 쑗 The aim of the ents 쑗 a stockbroking firm
subsidies is to stimulate trade with the
stock certificate /stɒk sətfkət/
stock certificate
Middle East. |
noun a document proving that someone

stimulus /stmjυləs/ noun a thing
stimulus
owns stock in a company

which encourages activity (NOTE: The
stock code /stɒk kəυd/ noun a set of
stock code
plural is stimuli.)
numbers and letters which refer to an item
stipulate /stpjυlet/ verb to state
stipulate
of stock
something specifically as a binding con-
stock control /stɒk kəntrəυl/ noun
stock control
dition in a contract 쑗 to stipulate that the |
contract should run for five years 쑗 They the process of making sure that the correct
found it difficult to pay the stipulated level of stock is maintained, to be able to
charges. 쑗 The company failed to pay on meet demand while keeping the costs of
the date stipulated in the contract. 쑗 The holding stock to a minimum (NOTE: The
contract stipulates that the seller pays the US term is inventory control.)
stock controller /stɒk kəntrəυlə/
stock controller
buyer’s legal costs. |
stipulation /stpjυleʃ(ə)n/ noun a

stipulation
|
noun a person who notes movements of
condition in a contract 쑗 The contract has stock
stock depreciation /stɒk dpriʃi
stock depreciation
a stipulation that the new manager has to |
serve a three-month probationary period. eʃ(ə)n/ noun a reduction in value of

stock /stɒk/ noun 1. the available sup-
stock
stock which is held in a warehouse for
ply of raw materials 쑗 large stocks of oil some time
Stock Exchange /stɒk kstʃend$/
Stock Exchange
or coal 쑗 the country’s stocks of butter or |
sugar 2. the quantity of goods for sale in noun a place where stocks and shares are
a warehouse or retail outlet 왍 to buy a bought and sold 쑗 He works on the Stock
shop with stock at valuation when buy- Exchange. 쑗 Shares in the company are
ing a shop, to pay a price for the stock traded on the Stock Exchange.
which is the same as its value as estimated ‘…the news was favourably received on
by the valuer 왍 to purchase stock at val- the Sydney Stock Exchange, where the
Stock Exchange listing 396

shares gained 40 cents to A$9.80’ stock market /stɒk mɑkt/ noun a
stock market
[Financial Times] place where shares are bought and sold,

Stock Exchange listing /stɒk ks i.e. a stock exchange 쑗 stock market price
Stock Exchange listing
tʃend$ lstŋ/ noun the fact of being or price on the stock market
on the official list of shares which can be stock market manipulation /stɒk
stock market manipulation
bought or sold on the Stock Exchange 쑗 mɑkt mənpjυleʃ(ə)n/ noun the

|
The company is planning to obtain a practice of trying to influence the price of

Stock Exchange listing. shares by buying or selling in order to
Stock Exchange operation /stɒk give the impression that the shares are
Stock Exchange operation
kstʃend$ ɒpəreʃ(ə)n/ noun the ac-

| |
widely traded
stock market manipulator /stɒk
stock market manipulator
tivity of buying or selling of shares on the

Stock Exchange mɑkt mənpjυletə/ noun a person
|
stock figures /stɒk f!əz/ plural

stock figures
who tries to influence the price of shares
noun details of how many goods are in in his or her own favour
stock market valuation /stɒk
stock market valuation
the warehouse or store

stockholder /stɒkhəυldə/ noun a
stockholder
mɑkt vljueʃ(ə)n/ noun a value of
|
person who holds shares in a company a company based on the current market
price of its shares
stockholding /stɒkhəυldŋ/ noun
stockholding
stock movements / stɒk

stock movements
the shares in a company held by someone muvmənts/ noun passing of stock into
stocking filler /stɒkŋ flə/ noun a
stocking filler
or out of a warehouse 쑗 All stock move-

small item which can be used to put into a ments are logged by the computer.
Christmas stocking stock option /stɒk ɒpʃən/ noun a
stock option
stock-in-hand /stɒk n hnd/ noun

stock-in-hand
right to buy shares at a cheap price given

stock held in a shop or warehouse by a company to its employees
stock-in-trade /stɒk n tred/ noun stockout /stɒkəυt/ noun a situation
stock-in-trade stockout
goods held by a business for sale where an item is out of stock

stockpile /stɒkpal/ noun the supplies
stockpile
stockist /stɒkst/ noun a person or

stockist
shop that stocks an item kept by a country or a company in case of

need 쑗 a stockpile of raw materials 쐽
stock jobber /stɒk d$ɒbə/ noun for-
stock jobber
verb to buy items and keep them in case

merly, a person who bought and sold of need 쑗 to stockpile tinned food
shares from other traders on the Stock Ex-
stockroom /stɒkrum/ noun a room
stockroom
change
where stores are kept
stock jobbing /stɒk d$ɒbŋ/ noun
stock jobbing
stocks and shares /stɒks ən ʃeəz/

stocks and shares
formerly, the business of buying and sell-

ing shares from other traders on the Stock plural noun shares in ordinary companies
stock size /stɒk saz/ noun a normal
stock size
Exchange
size 쑗 We only carry stock sizes of shoes.
stockkeeping /stɒkkipŋ/ noun the
stockkeeping
stocktaking /stɒktekŋ/, stocktake

| stocktaking
process of making sure that the correct

level of stock is maintained (to be able to /stɒktek/ noun the counting of goods in
meet demand while keeping the costs of stock at the end of an accounting period 쑗
holding stock to a minimum) The warehouse is closed for the annual
stocktaking.
stockkeeping unit /stɒkkipŋ
stockkeeping unit
stocktaking sale /stɒktekŋ sel/

stocktaking sale
junt/ noun full form of SKU

noun a sale of goods cheaply to clear a
stock ledger /stɒk led$ə/ noun a
stock ledger
warehouse before stocktaking

book which records quantities and values stock transfer form /stɒk trnsf&
stock transfer form
of stock fɔm/ noun a form to be signed by the

stock level /stɒk lev(ə)l/ noun the
stock level
person transferring shares

quantity of goods kept in stock 쑗 We try stock turn /stɒk t&n/, stock turn-
stock turn
to keep stock levels low during the sum- round /stɒk t&nraυnd/, stock turno-
mer. ver /stɒk t&nəυvə/ noun the total val-
stocklist /stɒklst/ noun a list of items
stocklist
ue of stock sold in a year divided by the

carried in stock average value of goods in stock
397 straight line depreciation

stock valuation /stɒl vljueʃ(ə)n/ storage /stɔrd$/ noun 1. the act of
stock valuation storage
noun an estimation of the value of stock keeping something in store or in a ware-

at the end of an accounting period house 쑗 We let our house and put the fur-
stop /stɒp/ noun 1. the end of an action
stop
niture into storage. 왍 to put a plan into
쑗 Work came to a stop when the company
cold storage to postpone work on a plan,
could not pay the workers’ wages. 쑗 The usually for a very long time 2. the cost of
keeping goods in store 쑗 Storage rose to
new finance director put a stop to the
10% of value, so we scrapped the stock. 3.
reps’ inflated expense claims. 2. a situa- the facility for storing data in a computer
tion where someone is not supplying or
쑗 a disk with a storage capacity of 100Mb
not paying something 왍 account on stop
storage capacity /stɔrd$ kə
storage capacity
an account which is not supplied because |
it has not paid its latest invoices 쑗 We put psti/ noun the space available for stor-
their account on stop and sued them for age
the money they owed. 왍 to put a stop on storage company /stɔrd$
storage company
a cheque to tell the bank not to pay a kmp(ə)ni/ noun a company which
cheque which you have written 쐽 verb 1. keeps items for customers
storage facilities /stɔrd$ fə
storage facilities
to make something not move or happen |
any more 쑗 The shipment was stopped by sltiz/ plural noun equipment and build-
customs. 쑗 The government has stopped ings suitable for storage
storage unit /stɔrd$ junt/ noun a
storage unit
the import of luxury items. 2. not to do an-

ything any more 쑗 The work force device attached to a computer for storing
stopped work when the company could information on disk or tape
not pay their wages. 쑗 The office staff store /stɔ/ noun 1. a place where goods
store
stop work at 5.30. 쑗 We have stopped sup- are kept 2. a quantity of items or materials
plying Smith & Co. 3. 왍 to stop an ac- kept because they will be needed 쑗 I al-
count not to supply an account any more ways keep a store of envelopes ready in
on credit because bills have not been paid my desk. 3. US a shop 쐽 verb 1. to keep
왍 to stop a cheque, to stop payment on in a warehouse 쑗 to store goods for six
a check US to ask a bank not to pay a months 2. to keep for future use 쑗 We
cheque you have written 왍 to stop pay- store our pay records on computer.
ments not to make any further payments store card /stɔ kɑd/ noun a credit
store card
4. 왍 to stop someone’s wages to take card issued by a large department store,

money out of someone’s wages 쑗 We which can only be used for purchases in
stopped £25 from his pay because he was that store
late. storekeeper /stɔkipə/, storeman
storekeeper
stop over phrasal verb to stay for a /stɔmən/ noun a person in charge of a
short time in a place on a long journey 쑗 storeroom
We stopped over in Hong Kong on the storeroom /stɔrum/ noun a room or
storeroom
way to Australia. small warehouse where stock can be kept

stop-loss order /stɒp lɒs ɔdə/ straight bonds /stret bɒndz/ plural
stop-loss order
straight bonds
noun an instruction to a stockbroker to noun normal fixed-interest bonds which

sell a share if the price falls to an agreed can be redeemed at a certain date
level (NOTE: The US term is stop order.) straight line depreciation /stret
straight line depreciation
stopover /stɒpəυvə/ noun an act of lan dpriʃieʃ(ə)n/ noun depreciation

stopover
| |
staying for a short time in a place on a calculated by dividing the cost of an asset,
long journey 쑗 The ticket allows you two less its remaining value, by the number of
stopovers between London and Tokyo. years it is likely to be used
COMMENT: Various methods of depreciat-
stoppage /stɒpd$/ noun 1. the act of
stoppage
ing assets are used; under the ‘straight

stopping 쑗 stoppage of payments 쑗 Bad line method’, the asset is depreciated at
weather was responsible for the stoppage a constant percentage of its cost each
of deliveries. 쑗 Deliveries will be late be- year, while with the ‘reducing balance
cause of stoppages on the production line. method’ the asset is depreciated at the
same percentage rate each year, but
2. a sum of money taken regularly from calculated on the value after the previ-
an employee’s wages for insurance, tax, ous year’s depreciation has been de-
etc. ducted.
s t r a ig h t s 398
straights /strets/ plural noun same as street directory / strit darekt(ə)ri/
straights street directory
straight bonds noun a list of people living in a street; a

strategic /strətid$k/ adjective based
strategic
|
map of a town which lists all the streets in
on a plan of action alphabetical order in an index
street plan /strit pln/ noun a map
street plan
/strə
strategic management
strategic management |
of a town showing streets and buildings
tid$k mnd$mənt/ noun manage-
street vendor /strit vendə/ noun a
street vendor
ment that focuses on developing corpo-

rate strategy, ensuring that the organisa- person who sells food or small items in
tion operates and makes decision in ac- the street
strength /streŋθ/ noun the fact of be-
strength
cordance with that strategy, and on

achieving and maintaining a strong coming strong, or being at a high level 쑗 The
petitive advantage company took advantage of the strength
of the demand for mobile phones. 쑗 The
strategic partnering /strətid$k
strategic partnering
|
strength of the pound increases the possi-
pɑtnərŋ/ noun collaboration between bility of high interest rates. Opposite
organisations in order to enable them to weakness
take advantage of market opportunities
stress /stres/ noun nervous tension or
stress
together, or to respond to customers more

effectively than they could if each operat- worry, caused by overwork, difficulty
ed separately. Strategic partnering allows with managers, etc. 쑗 People in positions
the partners to pool information, skills of responsibility suffer from stress-related
and resources and to share risks. illnesses. 쑗 The new work schedules
caused too much stress on the shop floor.
strategic planning /strətid$k
strategic planning
|
‘…manual and clerical workers are more
plnŋ/ noun the process of planning likely to suffer from stress-related diseas-
the future work of a company es. Causes of stress include the introduc-
strategy /strtəd$i/ noun a course of tion of new technology, job dissatisfac-
strategy
action, including the specification of re- tion, fear of job loss, poor working rela-
sources required, to achieve specific ob- tions with the boss and colleagues, and bad
jective 쑗 a marketing strategy 쑗 a finan- working conditions’ [Personnel Manage-
cial strategy 쑗 a sales strategy 쑗 a pric- ment]
stressful /stresf(ə)l/ adjective which
stressful
ing strategy 쑗 What is the strategy of the

HR department to deal with long-term causes stress 쑗 Psychologists claim that
manpower requirements? 쑗 Part of the repetitive work can be just as stressful as
company’s strategy to meet its marketing more demanding but varied work.
stress management /stres
stress management
objectives is a major recruitment and re-

training programme. (NOTE: The plural is mnd$mənt/ noun a way of coping
strategies.) with stress-related problems at work
stretch /stretʃ / verb to pull out or to
stretch
streaming /strimŋ/ noun technology

streaming
that allows material to be downloaded make longer 쑗 The investment pro-

from the Web and viewed at the same gramme has stretched the company’s re-
time. For example, a user can download sources. 왍 he is not fully stretched his
enough of a multimedia file to start view- job does not make him work as hard as he
ing or listening to it, while the rest of the could
strict /strkt/ adjective exact 쑗 The
strict
file is downloaded in the background.

partners are listed in strict order of sen-
streamline /strimlan/ verb to make
streamline
something more efficient or more simple iority.

strike /strak/ noun 1. the stopping of
strike
쑗 to streamline the accounting system 쑗

to streamline distribution services work by the workers (because of lack of
agreement with management or because
streamlined /strimland/ adjective
streamlined
of orders from a union) 2. 왍 to take strike

efficient or rapid 쑗 We need a more action to go on strike 3. 왍 to come out on
streamlined payroll system. 쑗 The com- strike, to go on strike to stop work 쑗 The
pany introduced a streamlined system of office workers are on strike for higher
distribution. pay. 왍 to call the workforce out on
streamlining /strimlanŋ/ noun the
streamlining
strike to tell the workers to stop work 쑗

process of making something efficient The union called its members out on
399 study
strike. 쐽 verb 1. to stop working because in which valuable documents and money
there is no agreement with management 쑗 can be kept
to strike for higher wages or for shorter strong currency /strɒŋ krənsi/
strong currency
working hours 쑗 to strike in protest noun a currency which has a high value
against bad working conditions (NOTE: against other currencies
striking – struck) 왍 to strike in sympa- strong pound /strɒŋ paυnd/ noun a
strong pound
thy with the postal workers to strike to pound which is high against other curren-
show that you agree with the postal work- cies
ers who are on strike 2. 왍 to strike a bar-
strongroom /strɒŋrum/ noun a spe-
strongroom
gain with someone to come to an agree-

ment 왍 a deal was struck at £25 a unit cial room in a bank where valuable docu-
we agreed the price of £25 a unit ments, money and gold can be kept
structural /strktʃ(ə)rəl/ adjective
structural
strike ballot /strak blət/, strike

strike ballot
vote /strak vəυt/ noun a vote by em- referring to a structure 쑗 to make struc-
tural changes in a company
ployees to decide if a strike should be held
structural unemployment
structural unemployment
strikebound /strakbaυnd/ adjective

strikebound
/strktʃ(ə)rəl nmplɔmənt/ noun |
not able to work or to move because of a unemployment caused by the changing

strike 쑗 Six ships are strikebound in the structure of an industry or the economy
docks.
structure /strktʃə/ noun the way in
structure
strikebreaker /strakbrekə/ noun an

strikebreaker
which something is organised 쑗 the price

employee who goes on working while structure in the small car market 쑗 the ca-
everyone else is on strike reer structure within a corporation 쑗 The
strike call /strak kɔl/ noun a de-
strike call
paper gives a diagram of the company’s

mand by a union for a strike organisational structure. 쑗 The company
strike fund /strak fnd/ noun money
strike fund
is reorganising its discount structure. 쐽
collected by a trade union from its mem- verb to arrange in a specific way 쑗 to
bers, used to pay strike pay structure a meeting
structured systems analysis and
structured systems analysis and design method
strike pay /strak pe/ noun wages

strike pay
paid to striking employees by their trade design method /strktʃəd sstəms

union ənləss ən dzan meθəd/ noun a
| |
method of analysing and designing com-

strike price /strakŋ pras/, striking
strike price
puter systems, which proceeds in a series

price noun 1. a price at which a new issue of logical steps, beginning with a feasibil-
of shares is offered for sale 2. the lowest ity study and moving through require-
selling price when selling a new issue of ments analysis, requirements specifica-
shares by tender (applicants who tendered tion, and logical system specification to
at a higher price will get shares; those physical design. Each stage must be com-
who tendered at a lower price will not) pleted before the next stage can begin.
striker /strakə/ noun an employee
striker
Abbreviation SSADM
who is on strike 쑗 Strikers marched to the stub /stb/ noun a slip of paper left after
stub
company headquarters. writing a cheque, an invoice or a receipt,

strong /strɒŋ/ adjective with a lot of as a record of the deal which has taken
strong
force or strength 쑗 This Christmas saw a place

strong demand for mobile phones. 쑗 The studio /stjudiəυ/ noun a place where
studio
company needs a strong chairman. designers, film producers, artists, etc.,

‘…everybody blames the strong dollar for work
US trade problems’ [Duns Business study /stdi/ noun an act of examining
study
Month] something carefully 쑗 The company has

‘…in a world of floating exchange rates asked the consultants to prepare a study
the dollar is strong because of capital in- of new production techniques. 쑗 He has
flows rather than weak because of the na- read the government study on sales op-
tion’s trade deficit’ [Duns Business portunities. 왍 to carry out a feasibility
Month] study on a project to examine the costs
strongbox /strɒŋbɒks/ noun a heavy
strongbox
and possible profits to see if the project

metal box which cannot be opened easily, should be started 쐽 verb to examine
stuff 400
something carefully 쑗 We are studying email, apart from the sender’s name, that
the possibility of setting up an office in can be read immediately by the receiver.
New York. 쑗 The government studied the subject to /sbd$kt tu/ adjective 1.
subject to
committee’s proposals for two months. 쑗 depending on 왍 the contract is subject to

You will need to study the market careful- government approval the contract will
ly before deciding on the design of the be valid only if it is approved by the gov-
product. ernment 왍 offer subject to availability
stuff /stf/ verb to put papers into enve-
stuff
the offer is valid only if the goods are

lopes 쑗 We pay casual workers by the available 2. 왍 these articles are subject
hour for stuffing envelopes or for enve- to import tax import tax has to be paid on
lope stuffing. these articles
style /stal/ noun a way of doing or
style
sub judice /sb d$udsi/ adverb be-

sub judice
making something 쑗 a new style of prod- ing considered by a court (and so not to be
uct 쑗 old-style management techniques mentioned in the media) 쑗 The papers
sub /sb/ noun 1. wages paid in advance
sub
cannot report the case because it is still

2. same as subscription sub judice.
sub- /sb/ prefix under or less important
sub-
sublease noun /sblis/ a lease from a

sublease
sub-agency / sb ed$əns/ noun a

sub-agency
tenant to another tenant 쑗 They signed a

small agency which is part of a large sublease for the property. 쐽 verb /sb |
agency lis/ to lease a leased property from an-

sub-agent /sb ed$ənt/ noun a per- other tenant 쑗 They subleased a small of-
sub-agent
son who is in charge of a sub-agency fice in the centre of town.

subcommittee /sbkəmti/ noun a sublessee /sblesi/ noun a person or
subcommittee sublessee
small committee which is part of or set up company that takes a property on a sub-
by a main committee 쑗 The next item on lease
the agenda is the report of the finance sublessor /sblesɔ/ noun a tenant
sublessor
subcommittee.
|
who leases a leased property to another

subcontract noun /sbkɒntrkt/ a
subcontract
|
tenant
contract between the main contractor for
sublet /sblet/ verb to let a leased
sublet
a whole project and another firm who will |
do part of the work 쑗 They have been property to another tenant 쑗 We have sub-
awarded the subcontract for all the elec- let part of our office to a financial consul-
trical work in the new building. 쑗 We will tancy. (NOTE: subletting – sublet)
/sb
subliminal advertising
put the electrical work out to subcontract. subliminal advertising |
쐽 verb /sbkəntrkt/ (of a main

| lmn(ə)l dvətazŋ/ noun advertis-
contractor) to agree with a company that ing that attempts to leave impressions on
they will do part of the work for a project the subconscious mind of the person who
쑗 The electrical work has been subcon- sees it or hears it without that person real-
tracted to Smith Ltd. ising that this is being done
subcontractor /sbkəntrktə/ submit /səbmt/ verb to put something
subcontractor submit
|
|
noun a company which has a contract to forward to be examined 쑗 The planners

do work for a main contractor submitted the proposal to the committee.
subdivision /sbdv$(ə)n/ noun US 쑗 He submitted a claim to the insurers. 쑗
subdivision
a piece of empty land to be used for build- The reps are asked to submit their expens-
ing new houses es claims once a month. 쑗 The union has
subjective /səbd$ektv/ adjective submitted a claim for a ten per cent wage
subjective
considered from the point of view of the increase. (NOTE: submitting – submit-
person involved, and not from any general ted)
point of view 쑗 Her assessments of the subordinate /səbɔdnət/ less impor-
subordinate
performance of her staff are quite subjec- tant 왍 subordinate to governed by, which
tive. Opposite objective depends on 쐽 noun a person in a lower
subject line /sbd$kt lan/ noun the position in an organisation 쑗 Her subor-
subject line
space at the top of an email template in dinates find her difficult to work with. 쑗
which the sender types the title or subject Part of the manager’s job is to supervise
of the email. It is the only part of the the training of their subordinates.
401 subtenancy
subpoena /səpinə/ noun a court or- subscription rate / səbskrpʃən
subpoena subscription rate
| |
der telling someone to appear as a witness ret/ noun the amount of money to be
(NOTE: an old term, now called a wit- paid for a series of issues of a magazine
ness summons) 쐽 verb to order some- subsidiary /səbsdiəri/ adjective less
subsidiary
one to appear in court 쑗 The finance di- important 쑗 They agreed to most of the
rector was subpoenaed by the prosecu- conditions in the contract but queried one
tion. or two subsidiary items. 쐽 noun same as
sub-post office /sb pəυst ɒfs/
sub-post office
subsidiary company 쑗 Most of the

noun a small post office, usually part of a group profit was contributed by the sub-
general store sidiaries in the Far East.
subscribe / səbskrab/ verb 1. 왍 to subsidiary company /səbsdiəri
subscribe subsidiary company
|
|
subscribe to a magazine or website to kmp(ə)ni/ noun a company which is

pay for a series of issues of a magazine or more than 50% owned by a holding com-
for information available on a website 2. pany, and where the holding company
왍 to subscribe for shares, to subscribe controls the board of directors
to a share issue to apply for shares in a subsidise /sbsdaz/, subsidize
subsidise
new company verb to help by giving money 쑗 The gov-

subscriber /səbskrabə/ noun 1. 왍
subscriber
|
ernment has refused to subsidise the car
subscriber to a magazine, magazine industry.
subscriber a person who has paid in ad- subsidised
subsidised accommodation
accommodation
vance for a series of issues of a magazine /sbsdazd əkɒmədeʃ(ə)n/ noun
| |
or to have access to information on a web- cheap accommodation which is partly

site 쑗 The extra issue is sent free to sub- paid for by an employer or a local author-
scribers. 2. 왍 subscriber to a share issue ity
a person who has applied for shares in a
subsidy /sbsdi/ noun 1. money giv-
subsidy
new company 3. a user who chooses to re-

ceive information, content, or services en to help something which is not profita-
regularly from a website ble 쑗 The industry exists on government
subsidies. 쑗 The government has in-
subscription /səbskrpʃən/ noun 1.
subscription
|
creased its subsidy to the car industry. 2.
money paid in advance for a series of is- money given by a government to make
sues of a magazine, for membership of a something cheaper 쑗 the subsidy on rail
society or for access to information on a transport (NOTE: The plural is subsi-
website 쑗 Did you remember to pay the dies.)
subscription to the computer magazine?
subsistence /səbsstəns/ noun a
subsistence
쑗 She forgot to renew her club subscrip- |
tion. 왍 to take out a subscription to a minimum amount of food, money, hous-

magazine to start paying for a series of ising, etc., which a person needs 왍 to live at
sues of a magazine 왍 to cancel a sub- subsistence level to have only just
scription to a magazine to stop paying enough money to live on
for a series of issues of a magazine 2. 왍 subsistence allowance /səb
subsistence allowance
subscription to a new share issue appli- sstəns əlaυəns/ noun money paid by a
|
cation to buy shares in a new company company to cover the cost of hotels,
subscription-based
subscription-based publishing
publishing meals, etc., for an employee who is trav-

/səbskrpʃən best pblʃŋ/ noun a
|
elling on business
substantial /səbstnʃəl/ adjective
substantial
form of publishing in which content from |
a website, magazine, book or other publi- large or important 왍 she was awarded
cation, is delivered regularly by email or substantial damages she received a large
other means to a group of subscribers sum of money as damages
subscription list /səbskrpʃən lst/ substitute /sbsttjut/ noun a per-
subscription list substitute
noun a list of subscribers to a new share son or thing that takes the place of some-
issue one or something else 쐽 adjective taking
subscription
subscription process
process /səb |
the place of another person or thing 쐽
skrpʃən prəυses/ noun the process by verb to take the place of someone or
which users register and pay to receive in- something else
subtenancy /sbtenənsi/ noun an
subtenancy
formation, content or services from a |
website agreement to sublet a property

subtenant 402
subtenant /sbtenənt/ noun a person one to get money as compensation 쑗 They
subtenant
or company to which a property has been are planning to sue the construction com-
sublet pany for damages. 쑗 He is suing the com-
subtotal /sbtəυt(ə)l/ noun the total
subtotal
|
pany for $50,000 compensation.
suffer /sfə/ verb to be in a bad situa-
suffer
of one section of a complete set of figures

쑗 She added all the subtotals to make a tion, to do badly 쑗 Exports have suffered
grand total. during the last six months. 왍 to suffer
subtract /səbtrkt/ verb to take away from something to do badly because of
subtract
something from a total 쑗 The credit note something 쑗 The company’s products suf-
should be subtracted from the figure for fer from bad design. 쑗 The group suffers
total sales. 쑗 If the profits from the Far from bad management.
Eastern operations are subtracted, you ‘…the bank suffered losses to the extent
will see that the group has not been prof- that its capital has been wiped out’
itable in the European market. [South China Morning Post]
subtraction /səbtrkʃən/ noun an
subtraction
|
‘…the holding company has seen its earn-
act of taking one number away from an- ings suffer from big writedowns in con-
other junction with its agricultural loan portfo-
lio’ [Duns Business Month]
subvention /səbvenʃ(ə)n/ noun same
subvention
sufficient / səfʃ(ə)nt/ adjective

| sufficient
as subsidy |
enough 쑗 The company has sufficient

succeed /səksid/ verb 1. to do well,
succeed
|
funds to pay for its expansion programme.
to be profitable 쑗 The company has suc-
suggest /səd$est/ verb to put forward
suggest
ceeded best in the overseas markets. 쑗 |
Her business has succeeded more than a proposal 쑗 The chairman suggested
she had expected. 2. to do what was (that) the next meeting should be held in
planned 쑗 She succeeded in passing her October. 쑗 We suggested Mr Smith for the
computing test. 쑗 They succeeded in post of treasurer.
suggestion /səd$estʃən/ noun an
suggestion
putting their rivals out of business. 3. to |
take over from someone in a post 쑗 Mr idea which is put forward

suggestion box /səd$estʃən bɒks/,
suggestion box
Smith was succeeded as chairman by Mrs |
Jones. suggestions box /səd$estʃənz bɒks/

|
success /səkses/ noun 1. an act of do- noun a place in a company where em-
success
ing something well 쑗 The launch of the ployees can put forward their ideas for
new model was a great success. 쑗 The making the company more efficient and
company has had great success in the profitable
Japanese market. 2. an act of doing what suitable /sutəb(ə)l/ adjective conven-
suitable
was intended 쑗 We had no success in try- ient or which fits 쑗 Wednesday is the most
ing to sell the lease. 쑗 She has been look- suitable day for board meetings. 쑗 We
ing for a job for six months, but with no had to readvertise the job because there
success. were no suitable candidates.
successful /səksesf(ə)l/ adjective sum1 / sm/ noun 1. a quantity of money
successful sum
having got the desired result 쑗 a success- 쑗 A sum of money was stolen from the hu-
ful businessman 쑗 a successful selling man resources office. 쑗 He lost large
trip to Germany 쑗 The successful candi- sums on the Stock Exchange. 쑗 She re-
dates will be advised by letter. ceived the sum of £5000 in compensation.
successfully /səksesf(ə)li/ adverb
successfully
| 왍 the sum insured the largest amount

well or getting the desired result 쑗 She which an insurer will pay under the terms
successfully negotiated a new contract of an insurance 2. the total of a series of
with the unions. 쑗 The new model was figures added together 쑗 The sum of the
successfully launched last month. various subtotals is £18,752.
successor /səksesə/ noun a person sum2 /sm/ noun a unit of currency used
successor sum
who takes over from someone 쑗 Mr in Uzbekistan

Smith’s successor as chairman will be summary /sməri/ noun a short ac-
summary
Mrs Jones. count of what has happened or of what

sue /sju/ verb to take someone to court, has been written 쑗 The MD gave a sum-
sue
to start legal proceedings against some- mary of her discussions with the German
403 supplement
trade delegation. 쑗 The sales department superior /sυpəriə/ adjective better, of
superior
has given a summary of sales in Europe better quality 쑗 Our product is superior
for the first six months. to all competing products. 쑗 Their sales
summons /smənz/ noun an official are higher because of their superior dis-
summons
order from a court requiring someone to tribution service. 쐽 noun a more impor-
appear in court to be tried for a criminal tant person 쑗 Each manager is responsi-
offence or to defend a civil action 쑗 He ble to their superior for accurate report-
threw away the summons and went on ing of sales.
holiday to Spain. supermarket /supəmɑkt/ noun a
supermarket
large store, usually selling food and

sums chargeable to the reserve
sums chargeable to the reserve

/smz tʃɑd$əb(ə)l tə ðə rz&v/ plural | household goods, where customers serve
noun sums which can be debited to a themselves and pay at a checkout 쑗 Sales
company’s reserves in supermarkets or Supermarket sales ac-
Sunday closing /snde kləυzŋ/
Sunday closing
count for half the company’s turnover.
supermarket trolley /supəmɑkt
supermarket trolley
noun the practice of not opening a shop

on Sundays trɒli/ noun a metal basket on wheels,
trading laws /snde
Sunday trading laws
Sunday used by shoppers to put their purchases in

tredŋ lɔz/ plural noun regulations as they go round a supermarket (NOTE:
which govern business activities on Sun- The US term is shopping cart.)
superstore /supəstɔ/ noun a very
superstore
days (NOTE: The US term is Blue Laws.)

sundries /sndriz/ plural noun vari-
sundries
large self-service store (more than 2,500
ous small additional items, often of little square metres) which sells a wide range
value, that are not included under any of of goods 쑗 We bought the laptop at a
the main headings in accounts computer superstore.
supertanker /supətŋkə/ noun a
supertanker
sundry /sndri/ adjective various

sundry
very large oil tanker

sundry items /sndri atəmz/ noun
sundry items
supervise /supəvaz/ verb to moni-

supervise
small items which are not listed in detail

tor work carefully to see that it is being
/snraz
sunrise industries
sunrise industries done well 쑗 The move to the new offices

ndəstriz/ plural noun companies in the was supervised by the administrative
fields of electronics and other high-tech manager. 쑗 She supervises six people in
areas the accounts department.
/snset
sunset industries
sunset industries supervision /supəv$(ə)n/ noun the

supervision
ndəstriz/ plural noun old-style indus-

|
fact of being supervised 쑗 New staff work

tries which are being replaced by new
under supervision for the first three
technology months. 쑗 She is very experienced and
/supərnju
superannuation
superannuation |
can be left to work without any supervi-
eʃ(ə)n/ noun a pension paid to someone sion. 쑗 The cash was counted under the
who is too old or ill to work any more supervision of the finance manager.
superannuation plan /supərnju
superannuation plan
supervisor /supəvazə/ noun a per-

supervisor
eʃ(ə)n pln/, superannuation son who supervises 쑗 The supervisor was

scheme /supərnjueʃ(ə)n skim/ |
asked to write a report on the workers’
noun a pension plan or scheme performance.
superindustrial society
superindustrial society supervisory /supəvazəri/ adjective

supervisory
/supərndstriəl səsaəti/ noun a so-

|
as a supervisor 쑗 Supervisory staff
ciety in which both the personal and checked the trainees’ work. 쑗 He works in
working lives of people are dominated by a supervisory capacity. 쑗 The supervisory
technology staff have asked for a pay rise.
superintend /supərntend/ verb to
superintend
supplement
|
supplement noun something which is
be in charge of work, to watch carefully, added 쑗 The company gives him a supple-
to see that work is well done 쑗 He super- ment to his pension. 쐽 verb to add 쑗 We
intends the company’s overseas sales. will supplement the warehouse staff with
superintendent /supərntendənt/
superintendent
| six part-timers during the Christmas

noun the title of an official in charge rush.
supplementary 404
supplementary /splment(ə)ri/ supply price /səpla pras/ noun the
supplementary supply price
| |
adjective in addition to price at which something is provided

supplementary benefit /spl supply-side economics /səpla
supplementary benefit supply-side economics
| |
ment(ə)ri benft/ noun formerly, pay- sad ikənɒmks/ plural noun an eco-
|
ments from the government to people nomic theory that governments should
with very low incomes. It was replaced by encourage producers and suppliers of
Income Support. goods by cutting taxes, rather than en-
supplementary unemployment
supplementary unemployment benefits
courage demand by making more money
benefits / splment(ə)ri nm |
available in the economy (NOTE: takes a
plɔmənt benfts/ noun US payments singular verb)
support /səpɔt/ noun 1. actions or
support
made by a company to workers who have |
been laid off, in addition to regular unem- money intended to help someone or
ployment insurance payments something 쑗 The government has provid-
supplier /səplaə/ noun a person or ed support to the car industry. 쑗 We have
supplier
company that supplies or sells goods or no financial support from the banks. 2.
services 쑗 We use the same office equip- agreement or encouragement 쑗 The
ment supplier for all our stationery pur- chairman has the support of the commit-
chases. 쑗 They are major suppliers of tee. 쐽 verb 1. to give money to help some-
spare parts to the car industry. Also one or something 쑗 The government is
called producer supporting the car industry to the tune of
supply /səpla/ noun 1. the act of pro-
supply
|
$2m per annum. 쑗 We hope the banks will
viding something which is needed 2. 왍 in support us during the expansion period.
short supply not available in large 2. to encourage someone, or to agree with
enough quantities to meet the demand 쑗 someone 쑗 She hopes the other members
Spare parts are in short supply because of of the committee will support her. 쑗 The
the strike. 3. stock of something which is market will not support another price in-
needed 쑗 Garages were running short of crease.
support price /səpɔt pras/ noun a
support price
supplies of petrol. 쑗 Supplies of coal to |
the factory have been hit by the rail strike. price in the EU at which a government
쑗 Supplies of stationery have been re- will buy agricultural produce to stop the
duced. 쐽 verb to provide something price falling
which is needed 쑗 to supply a factory surcharge /s&tʃɑd$/ noun an extra
surcharge
with spare parts 쑗 The finance depart- charge

ment supplied the committee with the fig- surety /ʃυərəti/ noun 1. a person who
surety
ures. 쑗 Details of staff addresses and guarantees that someone will do some-
phone numbers can be supplied by the HR thing 쑗 to stand surety for someone 2.
department. deeds, share certificates, etc., deposited as
supply and demand /səpla ən d
supply and demand
| | security for a loan

mɑnd/ noun the amount of a product surface
surface transport
transport /s&fs
which is available and the amount which trnspɔt/ noun transport on land or sea
is wanted by customers surplus /s&pləs/ noun 1. more of
surplus
supply chain /səpla tʃen/ noun the something than is needed 왍 these items
supply chain
manufacturers, wholesalers, distributors are surplus to our requirements we do

and retailers, who produce goods and not need these items 2. an amount of
services from raw materials and deliver money remaining after all liabilities have
them to consumers, considered as a group been met 왍 to absorb a surplus to take a
or network surplus into a larger amount 쐽 adjective
supply chain management /səpla more than is needed 쑗 Profit figures are
supply chain management
tʃen mnd$mənt/ noun the work of lower than planned because of surplus la-
co-ordinating all the activities connected bour. 쑗 Some of the machines may have to
with supplying of finished goods (NOTE: be sold off as there is surplus production
Supply chain management covers the capacity. 쑗 We are proposing to put our
processes of materials management, lo- surplus staff on short time.
gistics, physical distribution manage- ‘Both imports and exports reached record
ment, purchasing, and information man- levels in the latest year. This generated a
agement.) $371 million trade surplus in June, the sev-
405 sweetheart agreement

enth consecutive monthly surplus and payments. 쑗 We are trying to avoid a sus-
close to market expectations’ pension of deliveries during the strike. 2.
[Dominion (Wellington, New Zealand)] the act of stopping someone working for
surrender /sərendə/ noun the act of
surrender
| a time
giving up of an insurance policy before suspension file /səspenʃ(ə)n fal/
suspension file
the contracted date for maturity 쐽 verb 왍

|
noun a stiff card file, with metal edges,

to surrender a policy to give up an insur- which can be hooked inside the drawer of
ance policy before the date on which it a filing cabinet so that it hangs loose
matures
trolley / sə
suspension file trolley
suspension file
surrender value /sərendə vlju/
surrender value |
spenʃ(ə)n fal trɒli/ noun a trolley

noun the money which an insurer will pay
which carries rows of suspension files,
if an insurance policy is given up and can easily be moved from place to
surtax /s&tks/ noun an extra tax on
surtax
place in an office
high income
/sə
sustainable advantage
sustainable advantage
survey noun /s&ve/ 1. a general re-
survey |
stenəb(ə)l ədvɑntd$/ noun a com-

port on a problem 쑗 The government has
|
petitive advantage that can be preserved

published a survey of population trends.
over a long period of time, as opposed to
쑗 We have asked the sales department to
one that results from a short-term tactical
produce a survey of competing products.
promotion
2. a careful examination of something,
development / sə
sustainable development
such as a building, to see if it is in good sustainable |
enough condition 쑗 We have asked for a stenəb(ə)l dveləpmənt/ noun devel-

|
survey of the house before buying it. 쑗 opment that will be able to continue for a
The insurance company is carrying out a long time into the future because it is
survey of the damage. 3. the process of based on renewable resources and re-
examining and measuring something ex- spects the environment rather consuming
actly 쐽 verb /səve/ 1. to make a survey
|
resources recklessly to meet the needs of
of a building 쑗 A buildings surveyor was the present
called in to survey the damage caused by swap /swɒp/ noun an exchange of one
swap
the fire. 2. to measure land in order to pro- thing for another 쐽 verb to exchange one
duce a plan or map 쑗 They’re surveying thing for another 쑗 He swapped his old
the area where the new motorway will be car for a new motorcycle. 왍 they
built. swapped jobs each of them took the oth-
surveyor /səveə/ noun a person who er’s job
surveyor
examines buildings to see if they are in swatch /swɒtʃ/ noun a small sample of
swatch
good condition; person who surveys land a fabric 쑗 The interior designer showed
쑗 the surveyor’s report was favourable us swatches of the curtain fabric.
suspend /səspend/ verb 1. to stop do-
suspend
sweated labour /swetd lebə/ noun

sweated labour
|
ing something for a time 쑗 We have sus- 1. people who work hard for very little
pended payments while we are waiting for money 쑗 Of course the firm makes a prof-
news from our agent. 쑗 Sailings have it – it employs sweated labour. 쑗 Most of
been suspended until the weather gets the immigrant farmworkers are sweated
better. 쑗 Work on the construction project labour. 2. hard work which is very badly
has been suspended. 쑗 The management paid
decided to suspend negotiations. 2. to
sweatshop /swetʃɒp/ noun a factory
sweatshop
stop someone working for a time 쑗 He

was suspended on full pay while the po- using sweated labour
sweetener /swit(ə)nə/ noun an in-
sweetener
lice investigations were going on.

suspense account /səspens ə centive offered to help persuade some-
suspense account
| |
kaυnt/ noun an account into which pay- body to take a particular course of action,
ments are put temporarily when the ac- a bribe (informal )
countant cannot be sure where they sweetheart agreement /swithɑt
sweetheart agreement
should be entered ə!rimənt/ noun (in Australia and New

|
suspension /səspenʃən/ noun 1. an

suspension
| Zealand) an agreement reached between

act of stopping something for a time 쑗 employees and their employer without the
There has been a temporary suspension of need for arbitration
swipe 406
swipe /swap/ verb to pass a credit card syndicated / sndketd/ adjective
swipe syndicated
or charge card through a reader 쑗 He (article which is) published in several

swiped the card but it didn’t register. newspapers or magazines 쑗 He writes a
Swiss franc /sws frŋk/ noun a syndicated column on personal finance.
Swiss franc
synergy /snəd$i/ noun the process of

synergy
unit of currency used in Switzerland and

Liechtenstein (normally considered a producing greater effects by joining forc-
very stable currency) es than by acting separately 쑗 There is
switch /swtʃ/ verb to change from one
switch
considerable synergy between the two
thing to another 쑗 to switch funds from companies.
synthetic /snθetk/ adjective artifi-
synthetic
one investment to another 쑗 The job was |
switched from our British factory to the cial, made by man

States. synthetic fibres /snθetk fabəz/
synthetic fibres
switch over to phrasal verb to change noun materials made as products of a

to something quite different 쑗 We have chemical process
switched over to a French supplier. 쑗 synthetic materials /snθetk mə
synthetic materials
| |
The factory has switched over to gas for təriəlz/ plural noun substances made as
heating. products of a chemical process
switchboard /swtʃbɔd/ noun cen-
switchboard
system /sstəm/ noun an arrangement

system
tral point in a telephone system, where all or organisation of things which work to-
lines meet gether 쑗 Our accounting system has
switchboard operator /swtʃbɔd
switchboard operator
worked well in spite of the large increase

ɒpəretə/ noun a person who works the in orders. 쑗 What system is being used for
central telephone system filing data on personnel? 왍 to operate a
swop /swɒp/ verb same as swap quota system to regulate supplies by fix-
swop
SWOT analysis /swɒt ənləss/

SWOT analysis
|
ing quantities which are allowed 쑗 We ar-
noun a method of assessing a person, range our distribution using a quota sys-
company or product by considering their tem – each agent is allowed only a specif-
Strengths, Weaknesses and external fac- ic number of units.
systematic /sstə mtk/ adjective
systematic
tors which may provide Opportunities or |
Threats to their development. Full form in order, using method 쑗 He ordered a

Strengths, Weaknesses, Opportuni- systematic report on the distribution serv-
ties, Threats ice.
systems analysis /sstəmz ə
systems analysis
symbol /smbəl/ noun a sign, picture

symbol
|
or object which represents something 쑗 nləss/ noun the process of using a

They use a bear as their advertising sym- computer to suggest how a company can
bol. work more efficiently by analysing the
way in which it works at present
sympathy strike /smpəθi strak/
sympathy strike
systems analyst /sstəmz nəlst/

systems analyst
noun a strike to show that workers agree

with another group of workers who are al- noun a person who specialises in systems
ready on strike analysis
systems approach /sstəms ə
systems approach
syndicate noun /sndkət/ a group of

syndicate
|
people or companies working together to prəυtʃ/ noun an approach to decision-

make money 쑗 a German finance syndi- making and problem-solving within or-
cate 쐽 verb / sndket/ 1. to produce an ganisations that is based on the idea that
article, a cartoon, etc., which is then pub- when the various components of a system
lished in several newspapers or maga- work together they produce an effect
zines 2. to arrange for a large loan to be greater than the sum of the effects made
underwritten by several international by each individual part
systems audit /sstəms ɔdt/ noun
systems audit
banks
‘…over the past few weeks, companies an audit that uses the systems method to
raising new loans from international banks assess the internal control system of an
have been forced to pay more, and an unu- organisation, e.g. to assess the quality of
sually high number of attempts to syndi- the accounting system and the level of
cate loans among banks has failed’ testing required from the financial state-
[Financial Times] ments
407 take
systems design /sstəms dzan/ ning, designing, creating, testing and op-
systems design
noun the process of designing a computer erating complex systems

system or program to carry out a particu- systems method /sstəms meθəd/
systems method
lar function or achieve a particular objec- noun a method of exploring the nature of
tive complex business situations, which in-
systems engineering /sstəms volves creating a mathematical or compu-
systems engineering
end$nərŋ/ noun the process of plan-

| ter model in which all the activities to be
studied are represented
T
TA abbr transactional analysis als their tacit approval. 쑗 I think we have
TA
tab /tb/ noun same as tabulator

tab
their tacit agreement to the proposal.
tactic /tktk/ noun a way of doing
tactic
(informal )
table /teb(ə)l/ noun 1. a diagram or
table
things so as to be at an advantage 쑗 Se-
chart 2. a list of figures or facts set out in curing a key position at an exhibition is
columns 쐽 verb 1. to put items of infor- an old tactic which always produces good
mation on the table before a meeting 쑗 results 쑗 Concentrating our sales force in
The report of the finance committee was that area could be a good tactic. 쑗 The di-
tabled. 왍 to table a motion to put forward rectors planned their tactics before going
a proposal for discussion at a meeting 2. into the meeting.
왍 to table a proposal US to remove a tael /tal/ noun a measurement of the
tael
proposal from discussion 쑗 The motion to weight of gold, used in the Far East (=
hold a new election was tabled. 1.20oz/38g)
table of contents /teb(ə)l əv tailor /telə/ verb to design something
table of contents tailor
kɒntents/ noun a list of contents in a for a specific purpose 쑗 We mail out press
book releases tailored to the reader interests of
tabular /tbjυlə/ adjective 왍 in tabu- each particular newspaper or periodical.
tabular
lar form arranged in a table take /tek/ noun 1. the money received
take
tabulate /tbjυlet/ verb to set some- in a shop 쑗 Our weekly take is over
tabulate
thing out in a table £5,000. 2. a profit from any sale 쐽 verb 1.

tabulation /tbjυleʃ(ə)n/ noun the
tabulation
|
to receive or to get 왍 the shop takes
arrangement of figures in a table £2,000 a week the shop receives £2,000 a
week in cash sales 왍 she takes home
tabulator /tbjυletə/ noun a feature
tabulator
£250 a week her salary, after deductions

on a computer which sets words or figures for tax etc. is £250 a week 2. to perform
automatically in columns an action 왍 to take action to do some-
tachograph /tkə!rɑf/ noun a de-
tachograph
thing 쑗 You must take immediate action if

vice attached to the engine of a lorry, you want to stop thefts. 왍 to take a call to
which records details of the distance trav- answer the telephone 왍 to take the chair
elled and the time of journeys to be chairman of a meeting 쑗 In the ab-
tacit /tst/ adjective agreed but not
tacit
sence of the chairman his deputy took the

stated 쑗 The committee gave the propos- chair. 왍 to take dictation to write down
takeaway 408
what someone is saying 쑗 The secretary something in place of someone else 쑗
was taking dictation from the managing Miss Black took over from Mr Jones on
director. 왍 to take stock to count the May 1st. 2. 왍 to take over a company
items in a warehouse 왍 to take stock of a to buy a business by offering to buy
situation to examine the state of things most of its shares 쑗 The company was
before deciding what to do 3. to need a taken over by a large multinational.
time or a quantity 쑗 It took the factory six take up phrasal verb 왍 to take up an
weeks or The factory took six weeks to option to accept an option which has
clear the backlog of orders. 쑗 It will take been offered and put into action 왍 to
her all morning to do my letters. 쑗 It took take up a rights issue to agree to buy
six men and a crane to get the computer rights in shares which have been offered
into the building. (NOTE: taking – took – 쑗 Half the rights issue was not taken up
has taken) by the shareholders.
take away phrasal verb 1. to remove takeaway /tekəwe/ noun 1. a shop
takeaway
one figure from a total 쑗 If you take which sells food to be eaten at some other
away the home sales, the total turnover place 쑗 There is no VAT on takeaway
is down. 2. to remove 쑗 We had to take meals. 쑗 There’s a Chinese takeaway on
the work away from the supplier be- the corner of the street. 2. the food sold by
cause the quality was so bad. 쑗 The po- a takeaway
lice took away piles of documents from
take-home pay / tek həυm pe/
take-home pay
the office. 왍 sales of food to take away

cooked food sold by a shop to be eaten noun same as disposable personal in-
at some other place come 쑗 After all the deductions, her
take back phrasal verb 1. to return take-home pay is only £300 a week.
take-out /tek aυt/ noun the act of re-
take-out
with something 쑗 When the watch went

wrong, he took it back to the shop. 쑗 If moving capital which you had originally
you do not like the colour, you can take invested in a new company by selling
it back to change it. 2. 왍 to take back your shares
employees to re-employ former em- takeover /tekəυvə/ noun 1. an act of
takeover
ployees buying a controlling interest in a business

take into phrasal verb to take inside 쑗 by buying more than 50% of its shares.
to take items into stock or into the ware- Compare acquisition 2. the act of start-
house ing to do something in place of someone
take off phrasal verb 1. to remove or to else 3. the period when one person is tak-
deduct something 쑗 He took £25 off the ing over work from another
price. 2. to start to rise fast 쑗 Sales took
‘…many takeovers result in the new man-
off after the TV commercials. 3. 왍 she agers/owners rationalizing the capital of
took the day off she decided not to the company through better asset manage-
work for the day ment’ [Duns Business Month]
take on phrasal verb 1. to agree to em-
takeover bid /tekəυvə bd/ noun an
takeover bid
ploy someone 쑗 to take on more staff 2.

to agree to do something 쑗 She took on offer to buy all or a majority of the shares
the job of preparing the VAT returns. 쑗 in a company so as to control it 쑗 They
He has taken on a lot of extra work. made a takeover bid for the company. 쑗
take out phrasal verb 1. to remove She had to withdraw her takeover bid
something 쑗 She’s taken all the money when she failed to find any backers. 쑗
out of her account. 2. 왍 to take out a Share prices rose sharply on the disclo-
patent for an invention to apply for sure of the takeover bid. 왍 to make a
and receive a patent 왍 to take out in- takeover bid for a company to offer to
surance against theft to pay a premium buy most of the shares in a company 왍 to
to an insurance company, so that if a withdraw a takeover bid to say that you
theft takes place the company will pay no longer offer to buy the shares in a com-
compensation pany
Takeover Code /tekəυvə kəυd/
Takeover Code
‘…capital gains are not taxed, but money |
taken out in profits and dividends is taxed’ noun a code of practice which regulates
[Toronto Star] how takeovers should take place. It is en-
take over phrasal verb 1. to start to do forced by the Takeover Panel.
409 tariff barrier

Takeover Panel /tekəυvə pn(ə)l/ tally sheet /tli ʃit/ noun a sheet on
Takeover Panel tally sheet
noun a non-statutory body which exam- which quantities are noted

ines takeovers and applies the Takeover tangible assets
tangible assets /tnd$b(ə)l

Code. Also called City Panel on Takeo- sets/, tangible fixed assets
vers and Mergers /tnd$b(ə)l prɒpəti/, tangible prop-
takeover target /tekəυvə tɑ!t/
takeover target
erty plural noun assets that are physical,

noun a company which is the object of a such as buildings, cash and stock. Leases
takeover bid and securities, although not physical in
timetable / tekəυvə
takeover timetable
takeover themselves, are classed as tangible assets

tamteb(ə)l/ noun a timetable of the because the underlying assets are physi-
various events during a takeover bid cal.
tanker / tŋkə/ noun a special ship or
tanker
COMMENT: The timetable for a takeover

bid is regulated by the London Stock Ex- vehicle for carrying liquids (especially
change: the formal documents are sent oil)
out by the bidding company some days
tap /tp/ noun same as tap stock
tap
after it has announced that it is making

the bid. From the date of sending out the tap stock /tp stɒk/ noun a govern-
tap stock
formal documents, the Stock Exchange

allows the company 60 days in which to ment stock issued direct to the Bank of
try and persuade as many shareholders England for sale to investors
as possible to accept the offer. If less tare /teə/ noun the weight of a container
tare
than 50% accept, then the bidder can ex- and packing or the weight of a vehicle 쑗
tend the offer, or increase of the offer, or
simply let the offer lapse. If another com- to allow for tare
target /tɑ!t/ noun something to aim
target
pany now makes a rival offer, it too has

60 days to try to gain enough acceptanc- for 쑗 performance targets 왍 to set targets
es. to fix amounts or quantities which em-
taker / tekə/ noun a person who wants ployees have to produce or reach 왍 to
taker
to buy something 쑗 There were very few meet a target to produce the quantity of
takers for the special offer. goods or sales which are expected 왍 to
take up rate /tek p ret/ noun the miss a target not to produce the amount
take up rate
percentage of acceptances for a rights is- of goods or sales which are expected 쑗
sue They missed the target figure of £2m turn-
take your pick /tek jə pk/ phrase
take your pick
over. 쐽 verb to aim to sell to somebody 쑗
choose what you want I’ll follow up your idea of targeting our
address list with a special mailing. 왍 to
takings /tekŋz/ plural noun the mon-
takings
target a market to plan to sell goods in a

ey received in a shop or a business 쑗 The specific market 쑗 an advertising cam-
week’s takings were stolen from the cash paign which targets teenagers
desk. ‘…he believes that increased competition
talk offline /tɔk ɒflan/ noun to ex-
talk offline
| could keep inflation below the 2.5 per cent

press an opinion that is different from or target’ [Investors Chronicle]
contrary to the official policy of the or- ‘…the minister is persuading the oil, gas,
ganisation that is employing you electricity and coal industries to target
tall organisation /tɔl ɔ!əna their advertising towards energy efficien-
tall organisation
zeʃ(ə)n/ noun an organisation that has a cy’ [Times]

target market /tɑ!t mɑkt/ noun
target market
hierarchy with many different levels of

management. Opposite flat organisa- the market in which a company is plan-
tion ning to sell its goods
tally /tli/ noun a note of things count- tariff /trf/ noun 1. a tax to be paid on
tally tariff
ed or recorded 쑗 to keep a tally of stock imported goods. Also called customs

movements or of expenses 쐽 verb to tariff. Compare import levy, import tar-
agree, to be the same 쑗 The invoices do iffs 2. a rate of charging for something
not tally. 쑗 The accounts department such as electricity, hotel rooms or train
tried to make the figures tally. tickets
tally clerk /tli klɑk/ noun a person tariff barrier /trf briə/ noun the
tally clerk tariff barrier
whose job is to note quantities of cargo customs duty intended to make imports
task 410
more difficult 쑗 to impose tariff barriers taxable income /tksəb(ə)l nkm/
taxable income
on or to lift tariff barriers from a product noun income on which a person has to
task /tɑsk/ noun work which has to be pay tax
task
done 쑗 The job involves some tasks which taxable items /tksəb(ə)l atəmz/
taxable items
are unpleasant and others which are more plural noun items on which a tax has to be
rewarding. 쑗 The candidates are given a paid
series of tasks to complete within a time tax adjustments
tax adjustments
/tks ə
limit. 왍 to list task processes to make a
|
d$stmənts/ plural noun changes made

list of various parts of a job which have to to tax
be done 쐽 verb to give someone a task to tax adviser /tks ədvazə/, tax con-
tax adviser
do |
sultant /tks kənsltənt/ noun a per-

task analysis /tɑsk ənləss/ noun
task analysis |
|
son who gives advice on tax problems
the analysis of the various activities in-
tax allowance /tks əlaυəns/ noun
tax allowance
volved in carrying out a particular task, |
a part of the income which a person is al-

used especially to examine the activities
of people who are interacting with com- lowed to earn and not pay tax on
taxation /tkseʃ(ə)n/ noun the act of
taxation
puterised or other systems (NOTE: The |
purpose of task analysis is to find the taxing

tax avoidance /tks əvɔd(ə)ns/
tax avoidance
most efficient way of integrating the hu- |
man element into automated systems.) noun the practice of legally trying to pay
task culture /tɑsk kltʃə/ noun a as little tax as possible
task culture
tax bracket /tks brkt/ noun a

tax bracket
type of corporate culture that focuses on

the carrying out of individual projects by section of people paying a particular level
small teams of income tax
task force /tɑsk fɔs/ noun a special tax code /tks kəυd/ noun a number
task force tax code
group of workers or managers who are given to indicate the amount of tax allow-
chosen to carry out a special job or to deal ance a person has
with a special problem 쑗 He is heading tax collector /tks kəlektə/ noun a
tax collector
the government task force on inner city person who collects taxes which are owed
poverty. tax concession /tks kənseʃ(ə)n/
tax concession
tax / tks/ noun 1. money taken by the

tax
noun an act of allowing less tax to be paid

government or by an official body to pay tax credit /tks kredt/ noun 1. a
tax credit
for government services 왍 mainstream sum of money which can be offset against
corporation tax (MCT) total tax paid by tax 2. the part of a dividend on which the
a company on its profits (less any ACT company has already paid tax, so that the
which the company will already have shareholder is not taxed on it
paid) 2. an amount of money charged by
tax-deductible /tks ddktb(ə)l/
tax-deductible
government as part of a person’s income |
or on goods bought 왍 basic tax income adjective possible to deduct from an in-
tax paid at the normal rate 왍 to levy or come before tax is calculated 왍 these ex-
impose a tax to make a tax payable 쑗 The penses are not tax-deductible tax has to
government has imposed a 15% tax on be paid on these expenses
petrol. 왍 to lift a tax to remove a tax 쑗 tax deductions /tks ddkʃənz/
tax deductions
The tax on fuel charges has been lifted. 쑗 plural noun 1. money removed from a sal-
The tax on company profits has been lift- ary to pay tax 2. US business expenses
ed. 왍 tax deducted at source tax which is which can be claimed against tax
tax evasion /tks ve$(ə)n/ noun
tax evasion
removed from a salary or interest before |
the money is paid out 쐽 verb to make the practice of illegally trying not to pay
someone pay a tax, to impose a tax on tax
something 쑗 Businesses are taxed at tax-exempt /tks !zempt/ adjec-
tax-exempt
40%. 쑗 Income is taxed at 35%. 쑗 Luxury tive 1. referring to a person or organisa-

items are heavily taxed. tion not required to pay tax 2. not subject
tax abatement /tks əbetmənt/ to tax
tax abatement
noun a reduction of tax tax exemption /tks !zempʃən/

tax exemption
taxable /tksəb(ə)l/ adjective able to

taxable
noun 1. the fact of being free from pay-

be taxed ment of tax 2. US the part of income
411 technique
which a person is allowed to earn and not of tax is payable 쑗 The government has
pay tax on raised the minimum tax threshold from
tax exile /tks eksal/ noun a person £4,000 to £4,500.
tax exile
tax year /tks jə/ noun a twelve

tax year
who lives in a country where taxes are low

in order to avoid paying tax at home month period on which taxes are calculat-
tax form /tks fɔm/ noun a blank ed. In the UK this is 6th April to 5th April
tax form
form to be filled in with details of income of the following year.

TCO abbr total cost of ownership
TCO
and allowances and sent to the tax office

each year team /tim/ noun a group of people who
team
tax-free /tks fri/ adjective with no work together and co-operate to share
tax-free
tax having to be paid 쑗 tax-free goods work and responsibility

tax haven /tks hev(ə)n/ noun a team-building /tim bldŋ/ noun a
tax haven team-building
country or area where taxes are low, en- set of training sessions designed to instil
couraging companies to set up their main co-operation and solidarity in a group of
offices there employees who work together as a team
tax holiday /tks hɒlde/ noun a pe- teamster / timstə/ noun US a truck
tax holiday teamster
riod when a new business is exempted driver

from paying tax teamwork /timw&k/ noun a group
teamwork
tax incentive /tks nsentv/ noun a effort applied to work

tax incentive
tax reduction afforded to people for par- tear sheet /teə ʃit/ noun a page taken
tear sheet
ticular purposes, e.g., sending their chil- from a published magazine or newspaper,
dren to college sent to an advertiser as proof that their ad-
tax inspector /tks nspektə/ noun vertisement has been run
tax inspector
a government employee who investigates teaser /tizə/, teaser ad /tizər d/

teaser
taxpayers’ declarations noun an advertisement that gives a little

tax loophole /tks luphəυl/ noun a information about a product in order to at-
tax loophole
legal means of not paying tax tract customers by making them curious
tax loss /tks lɒs/ noun a loss made
tax loss
to know more
technical /teknk(ə)l/ adjective 1. re-
technical
by a company during an accounting peri-

od, for which relief from tax is given ferring to a particular machine or process
taxpayer /tkspeə/ noun a person or
taxpayer
쑗 The document gives all the technical
company that has to pay tax 쑗 basic tax- details on the new computer. 2. referring
payer or taxpayer at the basic rate 쑗 Cor- to influences inside a market, e.g. vol-
porate taxpayers are being targeted by umes traded and forecasts based on mar-
the government. ket analysis, as opposed to external fac-
tax point /tks pɔnt/ noun the date
tax point
tors such as oil-price rises, wars, etc.
on which goods or services are supplied, ‘…market analysts described the falls in
which is the date when VAT becomes is the second half of last week as a technical
correction’ [Australian Financial Review]
due
‘…at the end of the day, it was clear the
tax relief /tks rlif/ noun an allow-
tax relief
|
Fed had not loosened the monetary reins,
ance to pay less tax on some parts of and Fed Funds forged ahead on the back of
someone’s income technical demand’ [Financial Times]
tax return /tks rt&n/ noun a com- technical correction /teknk(ə)l kə
tax return
technical correction
|
|
pleted tax form, with details of income rekʃ(ə)n/ noun a situation where a share
and allowances price or a currency moves up or down be-
tax schedules /tks ʃedjulz/ plural
tax schedules
cause it was previously too low or too

noun a six types of income as classified high
for tax. See Comment at schedule technician /teknʃ(ə)n/ noun a person
technician
tax shelter /tks ʃeltə/ noun a finan- who is specialised in industrial work 쑗
tax shelter
cial arrangement such as a pension Computer technicians worked to install

scheme where investments can be made the new system.
without tax technique /teknik/ noun a skilled
technique
tax threshold /tks θreʃhəυld/ way of doing a job 쑗 The company has
tax threshold
noun a point at which another percentage developed a new technique for processing
technocracy 412
steel. 쑗 We have a special technique for telemarketing /telmɑktŋ/ noun
telemarketing
answering complaints from customers. 왍

|
the selling of a product or service by tele-

marketing techniques skill in marketing phone
a product
telemessage /telmesd$/ noun a
telemessage
technocracy /teknɒkrəsi/ noun an

technocracy
|
message sent by telephone, and delivered
organisation controlled by technical ex- as a card (as for a birthday, wedding, etc.)
perts. 쒁 bureaucracy
telephone /telfəυn/ noun a machine
telephone
technological /teknəlɒd$k(ə)l/ ad-

technological
|
used for speaking to someone over a long
jective referring to technology 왍 the tech- distance 쑗 We had a new telephone sys-
nological revolution the changing of in- tem installed last week. 왍 to be on the tel-
dustry by introducing new technology ephone to be speaking to someone using
technology /teknɒləd$i/ noun the ap- the telephone 쑗 The managing director is
technology
plication of scientific knowledge to in- on the telephone to Hong Kong. 쑗 She has
dustrial processes 왍 the introduction of been on the telephone all day. 왍 by tele-
new technology putting new electronic phone using the telephone 쑗 to place an
equipment into a business or industry order by telephone 쑗 to reserve a room by
technology adoption life cycle
technology adoption life cycle telephone 왍 to make a telephone call to

/teknɒləd$i ədɒpʃən laf sak(ə)l/
| |
speak to someone on the telephone 왍 to
noun a model that describes the stages in answer the telephone, to take a tele-
which various types of individuals and or- phone call to speak in reply to a call on
ganisations start to use new technologies. the telephone 쐽 verb 왍 to telephone a
The individual and organisations are usu- place, a person to call a place or someone
ally classified as innovators, early adop- by telephone 쑗 His secretary telephoned
ters, early majority, late majority or tech- to say he would be late. 왍 he telephoned
nology laggards. the order through to the warehouse he
telephoned the warehouse to place an or-
technology laggard /teknɒləd$i
technology laggard
|
der 왍 to telephone about something to
l!əd/ noun an individual or organisa- make a telephone call to speak about
tion that is very slow or reluctant to adopt something 쑗 He telephoned about the
new technology January invoice. 왍 to telephone for
tel
tel abbr telephone something to make a telephone call to ask

telecommunications
telecommunications /telikə |
for something 쑗 he telephoned for a taxi
mjunkeʃ(ə)nz/ plural noun systems telephone book /telfəυn bυk/ noun
telephone book
of passing messages over long distances a book which lists all people and busi-
(by cable, radio, etc.) nesses in alphabetical order with their tel-
telecoms /telikɒmz/ noun same as
telecoms
ephone numbers 쑗 He looked up the
telecommunications (informal ) number of the company in the telephone
book.
teleconference /telikɒnf(ə)rəns/
teleconference
telephone booth /telfəυn buð/

telephone booth
noun a discussion between several people

in different places, using the telephone, noun a public box with a telephone
microphones and loudspeakers telephone call /telfəυn kɔl/ noun
telephone call
telegram /tel!rm/ noun a message an act of speaking to someone on the tel-

telegram
sent by telegraph 쑗 to send a telegram to ephone

an agent in South Africa telephone directory /telfəυn da
telephone directory
telegraph /tel!rɑf/ noun a system of rekt(ə)ri/ noun a book which lists all
telegraph
sending messages along wires 쑗 to send a people and businesses in alphabetical or-
message by telegraph 쐽 verb to send a der with their phone numbers 쑗 To find
message by telegraph 쑗 to telegraph an his address you will have to look up his
order number in the telephone directory.
telegraphic /tel!rfk/ adjective telephone exchange /telfəυn ks
telegraphic telephone exchange
| |
referring to a telegraph system tʃend$/ noun a centre where the tele-

telegraphic transfer /tel!rfk
telegraphic transfer
phones of a whole district are linked
trɑnsfə/ noun a transfer of money from telephone kiosk /telfəυn kiɒsk/
telephone kiosk
one account to another by telegraph noun a shelter with a public telephone in

413 tendency
it 쑗 There are two telephone kiosks out- tem /tem/ 쏡 pro tem
tem
side the post office. temp /temp/ noun a temporary office

temp
telephone line /telfəυn lan/ noun a

telephone line
worker 쑗 We have had two temps working

wire along which telephone messages in the office this week to clear the backlog
travel of letters. 쐽 verb to work as a temporary
telephone number /telfəυn
telephone number
office worker
nmbə/ noun a set of figures for a partic- temp agency /temp ed$ənsi/ noun
temp agency
ular telephone subscriber 쑗 Can you give an office which deals with finding tempo-
me your telephone number? rary secretaries for offices
telephone operator /telfəυn ɒpə
telephone operator
temping /tempŋ/ noun the practice of

temping
| |
retə/ noun a person who operates a tel- working as a temporary office worker 쑗
ephone switchboard He can earn more money from temping
telephone order /telfəυn ɔdə/
telephone order
than from a full-time job.

noun an order received by telephone 쑗 temporarily /temp(ə)rerəli/ adverb
temporarily
Since we mailed the catalogue we have lasting only for a short time
received a large number of telephone or-
temporary /temp(ə)rəri/ adjective
temporary
ders.
which only lasts a short time 쑗 to take
telephone research /telfəυn r
telephone research
|
temporary measures 쑗 He was granted a
s&tʃ/ noun same as telephone survey temporary export licence. 쑗 She has a
telephone selling /telfəυn selŋ/
telephone selling
temporary post with a construction com-

noun the practice of making sales by pany. 쑗 He has a temporary job as a filing
phoning prospective customers and trying clerk or he has a job as a temporary filing
to persuade them to buy clerk.
telephone subscriber /telfəυn
telephone subscriber
temporary employment
|
temporary employment
səbskrabə/ noun a person who has a
|
/temp(ə)rəri mplɔmənt/, temporary
|
telephone work /temp(ə)rəri w&k/ noun full-time

telephone survey /telfəυn rs&tʃ/
telephone survey
|
work which does not last for more than a
noun an act of interviewing respondents few days or months
by telephone for a survey 쑗 How many temporary staff /temp(ə)rəri stɑf/,
temporary staff
people in the sample hung up before re- temporary employees / temp(ə)rəri

plying to the telephone survey? mplɔiz/,
| temporary workers
telephone switchboard /telfəυn /temp(ə)rəri w&kəz/ plural noun
telephone switchboard
swtʃbɔd/ noun central point in a tele-

|
members of staff who are appointed for a
phone system where all internal and ex- short time 쑗 We need to recruit temporary
ternal lines meet staff for the busy summer season.
telephonist /təlefənst/ noun a per- tenancy /tenənsi/ noun 1. an agree-
telephonist
tenancy
|
son who works a telephone switchboard ment by which a tenant can occupy a
telesales /teliselz/ plural noun sales
telesales
| property 2. a period during which a tenant

made by telephone has an agreement to occupy a property
teleshopping /telʃɒpŋ/ noun shop- tenant / tenənt/ noun a person or com-
teleshopping tenant
ping from home by means of a television pany which rents a house, flat or office to
screen and a home computer live or work in 쑗 The tenant is liable for
television network / telv$(ə)n repairs.
television network
netw&k/ noun a system of linked televi- tend /tend/ verb to be likely to do some-
tend
sion stations covering the whole country thing 쑗 He tends to appoint young girls to
teleworking /teliw&kŋ/ noun a his staff.
teleworking
working method where an employee tendency /tendənsi/ noun the condi-

tendency
works at home on computer, and sends tion of being likely to do something 쑗 The
the finished material back to the central market showed an upward tendency. 쑗
office by modem. Also called home- There has been a downward tendency in
working, networking the market for several days. 왍 the market
teller /telə/ noun a person who takes
teller
showed a tendency to stagnate the mar-

cash from or pays cash to customers at a ket seemed to stagnate rather than ad-
bank vance
tender 414
tender /tendə/ noun an offer to do terminable /t&mnəb(ə)l/ adjective
tender terminable
something for a specific price 쑗 a suc- which can be terminated

cessful tender 쑗 an unsuccessful tender 왍 terminal /t&mn(ə)l/ noun the build-
terminal
to put a project out to tender, to ask for ing where you end a journey 쐽 adjective
or invite tenders for a project to ask at the end
contractors to give written estimates for a terminal bonus /t&mn(ə)l bəυnəs/
terminal bonus
job 왍 to put in or submit a tender to noun a bonus received when an insurance

make an estimate for a job 왍 to sell comes to an end
shares by tender to ask people to offer in
terminate /t&mnet/ verb 1. to end
terminate
writing a price for shares 쐽 verb 1. 왍 to

tender for a contract to put forward an something or to bring something to an end
estimate of cost for work to be carried out 쑗 His employment was terminated. 2. to
under contract 쑗 to tender for the con- dismiss someone 쑗 His employment was
struction of a hospital 2. 왍 to tender terminated.
termination /t&mneʃ(ə)n/ noun 1.
termination
your resignation to resign, to give in |
your resignation 3. to offer money 쑗 the process of bringing to an end 2. US

please tender the correct fare the end of a contract of employment;
tenderer /tendərə/ noun a person or
tenderer
leaving a job (resigning, retiring, or being
company that tenders for work 쑗 The fired or made redundant) 쑗 Both employ-
company was the successful tenderer for er and employee agreed that termination
the project. was the only way to solve the problem.
termination clause / t&mneʃ(ə)n
termination clause
tendering /tendərŋ/ noun the act of

tendering
|
putting forward an estimate of cost 쑗 To klɔz/ noun a clause which explains how
be successful, you must follow the tender- and when a contract can be terminated
term insurance /t&m nʃυərəns/
term insurance
ing procedure as laid out in the docu- |
ments. noun same as term assurance

term loan /t&m ləυn/ noun a loan for
term loan
tentative /tentətv/ adjective not cer-

tentative
tain 쑗 They reached a tentative agreement a fixed period of time

terms /t&mz/ plural noun the condi-
terms
over the proposal. 쑗 We suggested

Wednesday May 10th as a tentative date tions or duties which have to be carried
for the next meeting. out as part of a contract, or the arrange-
tentatively /tentətvli/ adverb with- ments which have to be agreed before a
tentatively
out being sure 쑗 We tentatively suggested contract is valid 쑗 to negotiate for better
Wednesday as the date for our next nego- terms 쑗 She refused to agree to some of
tiating meeting. the terms of the contract. 쑗 By or Under
the terms of the contract, the company is
tenure /tenjə/ noun 1. the right to hold
tenure
property or a position 2. the time when a responsible for all damage to the proper-
position is held 쑗 during his tenure of the ty. 왍 ‘terms: cash with order’ the terms
office of chairman of sale showing that payment has to be
made in cash when the order is placed
term /t&m/ noun 1. a period of time
term
‘…companies have been improving com-

when something is legally valid 쑗 during munications, often as part of deals to cut
his term of office as chairman 쑗 the term down demarcation and to give everybody
of a lease 쑗 We have renewed her con- the same terms of employment’ [Econo-
tract for a term of six months. 쑗 The term mist]
of the loan is fifteen years. 2. a period of ‘…the Federal Reserve Board has eased
time 3. a part of a legal or university year interest rates in the past year, but they are
term assurance /t&m əʃυərəns/
term assurance
| still at historically high levels in real

noun a life assurance which covers a per- terms’ [Sunday Times]
term shares /t&m ʃeəz / plural noun
term shares
son’s life for a period of time (at the end

of the period, if the person is still alive he a type of building society deposit for a
receives nothing from the insurance) 쑗 fixed period of time at a higher rate of in-
He took out a ten-year term insurance. terest
term deposit /t&m dpɒzt/ noun terms of employment /t&mz əv m
term deposit terms of employment
| |
money invested for a fixed period at a plɔmənt/ noun the conditions set out in
higher rate of interest a contract of employment
415 theory
terms of payment /t&mz əv test certificate /test sətfkət/ noun
terms of payment test certificate
pemənt/ plural noun the conditions for a certificate to show that something has
paying something passed a test
terms of reference /t&mz əv test-drive /test drav/ verb 왍 to test-
terms of reference test-drive
ref(ə)rəns/ plural noun areas which a drive a car to drive a car before buying it
committee or an inspector can deal with 쑗 to see if it works well
Under the terms of reference of the com- testimonial /testməυniəl/ noun a
testimonial
mittee, it cannot investigate complaints written report about someone’s character

from the public. 쑗 The committee’s terms or ability 쑗 She has asked me to write her
of reference do not cover exports. a testimonial.
terms of sale /t&mz əv sel/ plural
terms of sale
testing /testŋ/ noun the act of exam-

testing
noun the conditions attached to a sale ining something to see if it works well 쑗
territorial waters /tertɔriəl
territorial waters
During the testing of the system several

wɔtəz/ noun sea waters near the coast defects were corrected.
of a country, which are part of the country test-market /test mɔkt/ verb 왍 to
test-market
and governed by the laws of that country test-market a product to show samples
왍 outside territorial waters in interna- of a product in a market to see if it will
tional waters, over which no single coun-
sell well 쑗 We are test-marketing the
try has jurisdiction toothpaste in Scotland.
territory /tert(ə)ri/ noun an area visit-
territory
test run /test rn/ noun a trial made on

test run
ed by a salesperson 쑗 We are adding two

new reps and reducing all the reps’ terri- a machine
text /tekst/ noun a written part of some-
text
tories. 쑗 Her territory covers all the north

of the country. thing 쑗 He wrote notes at the side of the
tertiary industry /t&ʃəri ndəstri/
tertiary industry
text of the agreement. 쐽 verb to send a
noun an industry which does not produce text message on a mobile phone or pager
text message / tekst mesd$/ noun a
text message
raw materials or manufacture products

but offers a service such as banking, re- message sent in text form, especially from
tailing or accountancy one mobile phone or pager to another
tertiary sector /t&ʃəri sektə/ noun text processing /tekst prəυsesŋ/
tertiary sector text processing
the section of the economy containing the noun working with words, using a com-
service industries puter to produce, check and change docu-
test /test/ noun an examination to see if ments, reports, letters, etc.
test
something works well or is possible 쐽 thanks /θŋks/ plural noun word show-
thanks
verb to examine something to see if it is ing that someone is grateful 쑗 ‘Many

working well 쑗 We are still testing the thanks for your letter of June 25th.’
new computer system. 왍 to test the mar- thanks to /θŋks tυ/ adverb because
thanks to
ket for a product to show samples of a of 쑗 The company was able to continue
product in a market to see if it will sell trading thanks to a loan from the bank. 왍
well 쑗 We are testing the market for the it was no thanks to the bank that we
toothpaste in Scotland. avoided making a loss we avoided mak-
testamentary /testəmentəri/ adjec-
testamentary
| ing a loss in spite of what the bank did

tive referring to a will the first half /ði f&st hɑf/ noun
the first half
testamentary disposition /testə

testamentary disposition
|
the periods from January 1st to June 30th
mentəri dspəzʃ(ə)n/ noun passing
|
and from June 30th to December 31st
of property to people in a will theft /θeft/ noun the act of stealing 쑗 to
theft
testate /testet/ adjective having made

testate
take out insurance against theft 쑗 We

a will 쑗 Did he die testate? 쒁 intestate have brought in security guards to protect
testator /testetə / noun someone who
testator
| the store against theft. 쑗 They are trying

has made a will to cut their losses by theft.
testatrix /testetrks/ noun a woman theory /θəri/ noun a statement of the
testatrix
theory
who has made a will general principle of how something

test case /test kes/ noun a legal ac- should work 왍 in theory the plan should
test case
tion where the decision will fix a principle work the plan may work, but it has not
which other cases can follow been tried in practice
think tank 416

think tank /θŋk tŋk/ noun a group farm produce imported into the EU can be
think tank
of experts who advise or put forward sold

plans thrift /θrft/ noun 1. a careful attitude to-
thrift
third /θ&d/ noun one part of something wards money, shown by saving it spend-
third
which is divided into three 왍 to sell eve- ing wisely 2. US a private local bank, sav-
rything at one third off to sell every- ings and loan association or credit union,
thing at a discount of 33% 왍 the compa- which accepts and pays interest on depos-
ny has two thirds of the total market the its from small investors
company has 66% of the total market ‘…the thrift, which had grown from $4.7
third party /θ&d pɑti/ noun a person
third party
million in assets in 1980 to 1.5 billion this
other than the two main parties involved year, has ended in liquidation’ [Barrons]
in a contract, e.g., in an insurance con- ‘…some thrifts came to grief on specula-
tract, anyone who is not the insurance tive property deals, some in the high-risk
company nor the person who is insured 왍 junk bond market, others simply by lend-
ing too much to too many people’ [Times]
the case is in the hands of a third party
thrifty /θrfti/ adjective careful not to
thrifty
the case is being dealt with by someone

who is not one of the main interested par- spend too much money
thrive /θrav/ verb to grow well, to be
thrive
ties
third party insurance /θ&d pɑti n
third party insurance
|
profitable 쑗 The country has a thriving
ʃυərəns/ noun insurance to cover dam- economy based on oil. 쑗 There is a thriv-
age to any person who is not one of the ing black market in car radios. 쑗 The
people named in the insurance contract company is thriving in spite of the reces-
(that is, not the insured person nor the in- sion.
throughput /θrupυt/ noun an amount
throughput
surance company)
third quarter /θ&d kwɔtə/ noun a
third quarter
of work done or of goods produced in a
period of three months from July to Sep- certain time 쑗 We hope to increase our
tember throughput by putting in two new ma-
chines. 쑗 The invoice department has a
Third World /θ&d w&ld/ noun 쏡 de-
Third World
throughput of 6,000 invoices a day.

veloping world (dated ) 쑗 We sell trac- throw out phrasal verb 1. to reject or to
tors into the Third World or to Third refuse to accept 쑗 The proposal was
World countries. thrown out by the planning committee.
three-part /θripɑt/ adjective paper
three-part
| 쑗 The board threw out the draft con-

(for computers or typewriters) with a top tract submitted by the union. 쑗 The un-
sheet for the original and a two sheets for ion negotiators threw out the
copies 쑗 three-part invoices 쑗 three-part management offer. 2. to get rid of some-
stationery thing which is not wanted 쑗 The AGM
three quarters /θri kwɔtəz/ noun threw out the old board of directors. 쑗
three quarters
75% 쑗 Three quarters of the staff are less He was thrown out of the company for
than thirty years old. disobedience. (NOTE: throwing –
360 degree appraisal /θri hndrəd
360 degree appraisal
threw – thrown)
ən sksti d!ri əprez(ə)l/ noun an as-
|
tick noun 1. credit (informal ) 쑗 All the
sessment of the performance of a person furniture in the house is bought on tick.
working for an organisation, to which col- 2. a mark on paper to show that some-
leagues ranking above, below and of thing is correct or that something is ap-
equal rank contribute proved 쑗 Put a tick in the box marked
‘R’. (NOTE: The US term is check in
threshold /θreʃhəυld/ noun the point
threshold
this meaning.) 쐽 phrasal verb to mark

at which something changes with a sign to show that something is
threshold agreement /θreʃhəυld ə
threshold agreement
| correct 쑗 Tick the box marked ‘R’ if you

!rimənt/ noun a contract which says require a receipt. (NOTE: The US term
that if the cost of living goes up by more is check in this meaning.)
than an agreed amount, pay will go up to ticker /tkə/ noun US a machine (oper-
ticker
match it ated by telegraph) which prints details of

threshold price /θreʃhəυld pras/
threshold price
share prices and transactions rapidly (for-

noun in the EU, the lowest price at which merly printed on paper tape called ‘ticker
417 time and motion expert

tape’, but is now shown online on compu- drawn discretionary funds into bank de-
ter terminals) posits’ [Far Eastern Economic Review]
ticket /tkt/ noun 1. a piece of paper or ‘…the UK economy is at the uncomforta-
ticket
card which allows you to do something 2. ble stage in the cycle where the two years
a piece of paper or card which allows you of tight money are having the desired ef-
to travel 쑗 train ticket or bus ticket or fect on demand’ [Sunday Times]
-tight /tat/ suffix which prevents some-
-tight
plane ticket 3. paper which shows some-

thing thing getting in 쑗 The computer is packed
in a watertight case. 쑗 Send the films in
ticket agency /tkt ed$ənsi/ noun
ticket agency
a shop which sells tickets to theatres an airtight container.

tighten /tat(ə)n/ verb to make some-
tighten
ticket counter /tkt kaυntə/ noun a

ticket counter
thing tight, to control something 쑗 The

place where tickets are sold accounts department is tightening its con-
ticket office / tkt ɒfs/ noun an of-
ticket office
trol over departmental budgets.

fice where tickets can be bought ‘…the decision by the government to
tie in phrasal verb to link an insurance tighten monetary policy will push the an-
policy to a mortgage nual inflation rate above the previous
tie up phrasal verb 1. to attach or to high’ [Financial Times]
fasten something tightly 쑗 The parcel is tighten up on phrasal verb to control
tied up with string. 쑗 The ship was tied something more strictly 쑗 The govern-
up to the quay. 왍 he is rather tied up at ment is tightening up on tax evasion. 쑗
the moment he is very busy 2. to invest We must tighten up on the reps’ expens-
money in one way, so that it cannot be es.
used for other investments 쑗 He has tight money /tat mni/ noun same as
tight money
£100,000 tied up in long-dated gilts. 쑗 dear money

The company has £250,000 tied up in tight money policy /tat mni
tight money policy
stock which no one wants to buy. pɒlsi/ noun a government policy to re-
‘…a lot of speculator money is said to be strict money supply
tied up in sterling because of the interest- till /tl/ noun a drawer for keeping cash in
till
rate differential between US and British

rates’ [Australian Financial Review] a shop
time /tam/ noun 1. a period during
time
tie-in /ta n/ noun an advertisement

tie-in
which something takes place, e.g. one

linked to advertising in another media, hour, two days or fifty minutes 2. a hour
e.g. a magazine ad linked to a TV com-
of the day (such as 9.00, 12.15, ten
mercial (NOTE: The plural is tie-ins.) o’clock at night, etc.) 쑗 the time of arrival
tie-in promotion /ta n prə
tie-in promotion
|
or the arrival time is indicated on the
məυʃ(ə)n/ noun a special display link- screen 쑗 Departure times are delayed by
ing the product to a major advertising up to fifteen minutes because of the vol-
campaign, or to a TV programme ume of traffic. 3. a system of hours on the
tie-on label /ta ɒn leb(ə)l/ noun a
tie-on label
clock 4. the number of hours worked 5. a

label with a piece of string attached so period before something happens 왍 to
that it can be tied to an item keep within the time limits or within
tie-up /ta p/ noun a link or connec- the time schedule to complete work by
tie-up
tion 쑗 The company has a tie-up with a the time stated

German distributor. (NOTE: The plural is time and a half /tam ənd ə hɑf/
time and a half
tie-ups.) noun the normal rate of pay plus 50% ex-

tight /tat/ adjective which is controlled, tra
tight
which does not allow any movement 쑗 time and method study /tam ən
time and method study
The manager has a very tight schedule to- meθəd stdi/ noun a process of exam-
day – she cannot fit in any more appoint- ining the way in which something is done
ments. 쑗 Expenses are kept under tight to see if a cheaper or quicker way can be
control. found
time and motion expert /tam ən
time and motion expert
‘…mortgage money is becoming tighter’

[Times] məυʃ(ə)n eksp&t/ noun a person who
‘…a tight monetary policy by the central analyses time and motion studies and sug-
bank has pushed up interest rates and gests changes in the way work is done
time and motion study 418

time and motion study /tam ən 쑗 The management is keen on time-sav-
time and motion study
məυʃ(ə)n stdi/ noun a study in an of- ing.

fice or factory of the time taken to do spe- timescale /tamskel/ noun the time
timescale
cific jobs and the movements employees which will be taken to complete work 쑗
have to make to do them Our timescale is that all work should be
time-card /tam kɑd/, time-clock completed by the end of August. 쑗 He is
time-card
card /tam klɒk kɑd/ noun a card working to a strict timescale.

which is put into a timing machine when time share /tam ʃeə/ noun a system
time share
an employee clocks in or clocks out, and where several people each own part of a
records the time when they start and stop property (such as a holiday flat), each be-
work ing able to use it for a certain period each
time clock /tam klɒk/ noun a ma-
time clock
year
chine which records when an employee time-sharing /tam ʃeərŋ/ noun 1.
time-sharing
arrives at or leaves work same as time share 2. an arrangement

time deposit /tam dpɒzt/ noun a
time deposit
| for sharing a computer system, with dif-

deposit of money for a fixed period, dur- ferent users using different terminals
ing which it cannot be withdrawn time sheet /tam ʃit/ noun a record of
time sheet
time-keeping / tam kipŋ/ noun the

time-keeping
when an employee arrives at and leaves

fact of being on time for work 쑗 He was work, or one which shows how much time
warned for bad time-keeping. a person spends on different jobs each day
time limit /tam lmt/ noun the max- time sovereignty /tam sɒvrnti/
time limit time sovereignty
imum time which can be taken to do the ability to control the way you spend
something 쑗 to set a time limit for accept- your time so that you can arrange your
ance of the offer 쑗 The work was finished working life to suit your own situation,
within the time limit allowed. 쑗 The time e.g. by working flexible hours
limit on applications to the industrial tri- timetable /tamteb(ə)l/ noun 1. a list
timetable
bunal is three months. showing times of arrivals and departures

time limitation /tam lmteʃ(ə)n/
time limitation
|
of buses, trains, planes, etc. 쑗 According
noun the restriction of the amount of time to the timetable, there should be a train to
available London at 10.22. 쑗 The bus company has
time management /tam
time management
brought out its winter timetable. 2. a list

mnd$mənt/ noun analysis and con- of appointments or events 쑗 The manager
trol of the amount of time spent on differ- has a very full timetable, so I doubt if he
ent work activities, in order to maximise will be able to see you today. 쒁 takeover
personal efficiency. The most important timetable 쐽 verb to make a list of times
aspect of time management involves list- time work /tam w&k/ noun work
time work
ing different work tasks in order of prior- which is paid for at a rate per hour or per
ity so that you can concentrate on those day, not per piece of work completed
that are most important. (NOTE: Time time zone /tam zəυn/ noun one of 24
time zone
management involves analysing how

bands in the world in which the same
you spend your time, deciding how im-
standard time is used 쑗 When you fly
portant each of your different work tasks
across the USA you cross several time
is and reorganising your activities so
zones.
that you spend most time on the tasks
that are most important.) ‘…time-zone differences are an attraction
for Asian speculators. In Hongkong, it is 5
time of peak demand /tam əv pik
time of peak demand
p.m. when the London exchange opens

dmɑnd/ noun the time when some-
|
and 9.30 or 10 p.m. when New York starts
thing is being used most trading’ [Far Eastern Economic Review]
time rate /tam ret/ noun a rate for timing /tamŋ/ noun a way in which
time rate
timing
work which is calculated as money per something happens at a particular time 쑗

hour or per week, and not money for work The timing of the conference is very con-
completed venient, as it comes just before my sum-
time-saving /tam sevŋ/ adjective mer holiday. 쑗 His arrival ten minutes af-
time-saving
which saves time 쑗 a time-saving device ter the meeting finished was very bad tim-
쐽 noun the practice of trying to save time ing.
419 top copy

tip noun 1. money given to someone ing that a major loan or a bond issue has
who has helped you 쑗 The staff are not been subscribed, giving details of the
allowed to accept tips. 2. a piece of ad- banks which have underwritten it
vice on buying or doing something (informal)
which could be profitable 쑗 The news- ton /tn/ noun a measure of weight
ton
paper gave several stock market tips. 쑗

toner cartridge /təυnə kɑtrd$/
toner cartridge
She gave me a tip about a share which

noun a sealed plastic box containing ton-
was likely to rise because of a takeover
er
bid. 쐽 phrasal verb 1. to give money to
tonnage /tnd$/ noun a space for car-
tonnage
someone who has helped you 쑗 He

tipped the receptionist £5. 2. to say that go in a ship, measured in tons
something is likely to happen or that ‘…in the dry cargo sector a total of 956
something might be profitable 쑗 He is cargo vessels of 11.6m tonnes are laid up
tipped to become the next chairman. 쑗 – 3% of world dry cargo tonnage’
Two shares were tipped in the business [Lloyd’s List]
tonne /tn/ noun a metric ton, 1,000 ki-
tonne
section of the paper. (NOTE: [all phrasal

verb senses] tipping – tipped) los
tip sheet /tp ʃit/ noun a newspaper
tip sheet
‘Canada agreed to the new duty-free quota

which gives information about shares of 600,000 tonnes a year’ [Globe and
which should be bought or sold Mail (Toronto)]
tool / tul/ noun an instrument used for
tool
TIR abbr Transports Internationaux

TIR
Routiers doing manual work, e.g. a hammer or

title deeds /tat(ə)l didz/ plural screwdriver
title deeds
noun a document showing who is the tool up phrasal verb to put machinery
owner of a property into a factory
token /təυkən/ noun something which top /tɒp/ noun 1. the upper surface or
top
token
acts as a sign or symbol upper part 쑗 Do not put coffee cups on top
token charge /təυkən tʃɑd$/ noun
token charge
of the computer. 2. the highest point or
a small charge which does not cover the most important place 쑗 She rose to the top
real costs 쑗 A token charge is made for of her profession. 쐽 verb to go higher than
heating. 쑗 Sales topped £1m in the first quarter.
token payment /təυkən pemənt/
token payment
(NOTE: topping – topped) 쐽 adjective
noun a small payment to show that a pay-
highest or most important 왍 to give some-
ment is being made thing top priority to make something the
most important item, so that it is done
token rent /təυkən rent/ noun a very
token rent
very fast
low rent payment to show that some rent ‘…the base lending rate, or prime rate, is
is being asked the rate at which banks lend to their top
token strike /təυkən strak/ noun a
token strike
corporate borrowers’ [Wall Street Jour-

short strike to show that workers have a nal]
grievance ‘…gross wool receipts for the selling sea-
toll /təυl/ noun a payment for using a
toll
son appear likely to top $2 billion’

service, usually a bridge or a road 쑗 We [Australian Financial Review]
had to cross a toll bridge to get to the is- top out noun US a period of peak de-
land. 쑗 You have to pay a toll to cross the mand for a product 쐽 phrasal verb to
bridge. finish the roof of a new building
toll call /təυl kɔl/ noun US a long-dis- top up phrasal verb 1. to fill up some-
toll call
tance telephone call thing which is not full 쑗 to top up stocks

toll free /təυl fri/ adverb, adjective
toll free
before the Christmas rush 2. to add to
US without having to pay a charge for a something to make it more complete 쑗
long-distance telephone call 쑗 to call He topped up his pension contributions
someone toll free 쑗 a toll-free number to make sure he received the maximum
COMMENT: Toll-free numbers usually allowable pension when he retired.
top copy /tɒp kɒpi/ noun the first or
top copy
start with the digits 800.

tombstone /tumstəυn/ noun an offi-
tombstone
top sheet of a document which is typed

cial announcement in a newspaper show- with carbon copies
top-down approach 420

top-down approach /tɒp daυn ə total cost of ownership /təυt(ə)l
top-down approach total cost of ownership
prəυtʃ/ noun a style of leadership, con- kɒst əv əυnəʃp/ noun a systematic

sidered a feature of large bureaucracies, method of calculating the total cost of
in which plans are made and decisions buying and using a product or service. It
taken by senior management and are then takes into account not only the purchase
passed down to the other members of the price of an item but also related costs such
organisation. Opposite bottom-up ap- as ordering, delivery, subsequent use and
proach maintenance, supplier costs and after-de-
top-flight /tɒp flat/ adjective in the livery costs.
top-flight
most important position 쑗 Top-flight total invoice value /təυt(ə)l nvɔs

total invoice value
managers can earn very high salaries. 쑗 vlju/ noun the total amount on an in-
He is the top-ranking official in the dele- voice, including transport, VAT, etc.
gation. Also called top-ranking total loss control /təυt(ə)l lɒs kən
total loss control
top-grade / tɒp !red/ adjective of the trəυl/ noun an approach to risk manage-
top-grade
best quality 쑗 top-grade petrol ment that involves the implementation of

top-hat pension /tɒp ht penʃən/ safety procedures to minimise the effects
top-hat pension
noun a special extra pension for senior of a total or partial loss of an organisa-
managers tion’s physical assets or its employees on
top
top management
management /tɒp its performance

mnd$mənt/ noun the main directors totally /təυt(ə)li/ adverb completely 쑗
totally
of a company The factory was totally destroyed in the

top official /tɒp əfʃ(ə)l/ noun a very
top official
|
fire. 쑗 The cargo was totally ruined by
important person in a government depart- water.
total quality management
total quality management
ment
topping-out ceremony /tɒpŋ aυt
topping-out ceremony
/təυt(ə)l kwɒlti mnd$mənt/ noun
serməni/ noun a ceremony when the a management style which demands com-
roof of a new building is finished mitment to maintain and improve quality
throughout the workforce (with control of
top quality /tɒp kwɒlti/ noun very
top quality
systems, quality, inspection of working

best quality 쑗 We specialize in top quality practices, etc.). Abbreviation TQM
imported goods.
total systems approach /təυt(ə)l
total systems approach
top-ranking /tɒp rŋkŋ/ adjective

top-ranking
sstəmz əprəυtʃ/ noun a way of organ-

|
same as top-flight ising a large company, in which the sys-

top-selling /tɒp selŋ/ adjective
top-selling
tems in each section are all seen as part of

which sells better than all other products the total corporate system
쑗 top-selling brands of toothpaste
tourism /tυərz(ə)m/ noun the busi-
tourism
tort /tɔt/ noun harm done to a person or

tort
ness of providing travel, hotel rooms,

property which can be the basis of a civil food, entertainment, etc., for tourists
lawsuit tourist /tυərst/ noun a person who
tourist
total /təυt(ə)l/ adjective complete or

total
goes on holiday to visit places away from

with everything added together 쑗 The to- home
tal amount owed is now £1000. 쑗 The tourist bureau /tυərst bjυərəυ/
tourist bureau
company has total assets of over £1bn. 쑗 noun an office which gives information to
The total cost was much more than ex- tourists about the place where it is situat-
pected. 쑗 Total expenditure on publicity is ed
twice that of last year. 쑗 Our total income
tourist class /tυərst klɑs/ noun a
tourist class
from exports rose last year. 왍 the cargo

was written off as a total loss the cargo lower quality or less expensive way of
was so badly damaged that the insurers travelling 쑗 He always travels first class,
said it had no value 쐽 noun an amount because he says tourist class is too un-
which is complete, with everything added comfortable.
tourist information /tυərst nfə
tourist information
up 쑗 The total of the charges comes to |
more than £1,000. 쐽 verb to add up to 쑗 meʃ(ə)n/ noun information for tourists
tourist season /tυərst siz(ə)n/
tourist season
costs totalling more than £25,000 (NOTE:

totalling – totalled. The US spelling is noun a period when there are many peo-
totaling – totaled.) ple on holiday
421 trade barrier

tourist visa /tυərst vizə/ noun a pose trade barriers on to restrict the im-
tourist visa
visa which allows a person to visit a coun- port of some goods by charging high duty
try for a short time on holiday 3. a particular type of business, or people
tour operator /tuər ɒpəretə/ noun
tour operator
or companies dealing in the same type of
a person or company which organizes product 쑗 He’s in the secondhand car
tours trade. 쑗 She’s very well known in the
clothing trade. 쐽 verb to buy and sell, to
tout /taυt/ noun a person who sells tick-
tout
carry on a business 쑗 We trade with all the

ets (to games or shows) for more than the countries of the EU. 쑗 She trades on the
price printed on them 쐽 verb 1. 왍 to tout Stock Exchange. 쑗 The company has
for custom to try to attract customers 2. stopped trading. 쑗 The company trades
US to make extravagant publicity for a under the name ‘Eeziphitt’.
product
‘…a sharp setback in foreign trade ac-
TQM abbr total quality management
TQM
counted for most of the winter slowdown.

trace /tres/ noun a very small amount
trace
The trade balance sank $17 billion’ [For-

쑗 There was a trace of powder on his tune]
coat. 쑗 She showed no trace of anger. 쐽 ‘…at its last traded price, the bank was
verb 1. to find where someone or some- capitalized around $1.05 billion’
thing is 쑗 we couldn’t trace the order 2. [South China Morning Post]
to copy a drawing, etc., by placing a sheet ‘…with most of the world’s oil now traded
of transparent paper over it and drawing on spot markets, Opec’s official prices are
on it 쑗 she traced the map much less significant than they once were’
tracing paper /tresŋ pepə/ noun [Economist]
tracing paper
transparent paper for copying drawings, ‘…the London Stock Exchange said that
etc. 쑗 This is a copy I made on tracing pa- the value of domestic UK equities traded
per. during the year was £1.4066 trillion, more
track /trk/ noun 왍 to keep track of to
track
than the capitalization of the entire Lon-
don market and an increase of 36 per cent
keep an account, to keep yourself in- compared with previous year’s total of
formed about 쑗 I like to keep track of new £1.037 trillion’ [Times]
developments in computer technology. 왍
‘…trade between Britain and other coun-
to lose track of someone or something tries which comprise the Economic
not to know where someone or something Community has risen steadily from 33%
is 쑗 We lost track of our rep in Turkey. 쐽 of exports to 50% last year’ [Sales &
verb to follow someone or something; to Marketing Management]
follow how something develops, such as trade in phrasal verb 1. to buy and sell
one of the stock market indices 쑗 This specific items 쑗 The company trades in
fund tracks the Footsie Index. imported goods. 쑗 They trade in French
‘…tracking the stock market is a good way wine. 2. to give in an old item as part of
of providing for the long term, if you’re the payment for a new one 쑗 The chair-
prepared to ride the ups and downs’ man traded in his old Rolls Royce for a
[Investors Chronicle] new model.
tracker fund /trkə fnd/ noun a
tracker fund
trade agreement /tred ə!rimənt/

trade agreement
fund which tracks one of the stock market |
noun an international agreement between

indices, such as the FTSE countries over general terms of trade
track record /trk rekɔd/ noun the
track record
trade association /tred əsəυsi

trade association
success or failure of a company or sales- |
person in the past 쑗 He has a good track eʃ(ə)n/ noun a group which links to-
record as a secondhand car salesman. 쑗 gether companies in the same trade
trade balance / tred bləns/ noun
trade balance
The company has no track record in the

computer market. 쑗 We are looking for same as balance of trade
someone with a track record in the com- trade barrier /tred briə/ noun a
trade barrier
puter market. limitation imposed by a government on

trade /tred/ noun 1. the business of
trade
the free exchange of goods between coun-

buying and selling 왍 to do a good trade tries. Also called import restriction
in a range of products to sell a large (NOTE: NTBs, safety standards and tar-
number of a range of products 2. 왍 to im- iffs are typical trade barriers.)
trade bill 422

trade bill /tred bl/ noun a bill of ex- trade figures /tred f!əz/ noun
trade bill trade figures
change between two companies who are government statistics showing the value
trading partners. It is issued by one com- of a country’s trade with other countries
pany and endorsed by the other. trade gap /tred !p/ noun same as
trade gap
trade bureau /tred bjυərəυ/ noun

trade bureau
trade deficit
trade-in /tred n / noun an old item,
trade-in
an office which specialises in commercial

inquiries e.g. a car or washing machine, given as
trade counter /tred kaυntə/ noun a
trade counter
part of the payment for a new one 쑗 She
shop in a factory or warehouse where bought a new car and gave her old one as
goods are sold to retailers a trade-in.
trade-in price /tred n pras/, trade-
trade-in price
trade creditors /tred kredtəz/ plu-

trade creditors
in allowance /tred n əlaυəns/ noun

|
ral noun companies which are owed mon- an amount allowed by the seller for an old
ey by a company. The amount owed to item being traded in for a new one
trade creditors is shown in the annual ac-
trade journal /tred d$&n(ə)l/ noun
trade journal
counts. a magazine or newspaper produced for

trade cycle /tred sak(ə)l/ noun a
trade cycle
people and companies in a certain trade

period during which trade expands, then trade magazine /tred m!əzin/
trade magazine
slows down, then expands again noun a magazine aimed at working peo-
trade debtor /tred detə/ noun a
trade debtor
ple in a specific industry

debtor who owes money to a company in trademark /tredmɑk/, trade name
trademark
the normal course of that company’s trad- /tred nem/ noun a name, design or
ing symbol which has been registered by the
trade deficit /tred defst/ noun the manufacturer and which cannot be used
trade deficit
difference in value between a country’s by other manufacturers. It is an intangible

low exports and higher imports. Also asset. 쑗 You can’t call your beds
called balance of payments deficit, ‘Softn’kumfi’ – it is a registered trade-
trade gap mark.
trade mission /tred mʃ(ə)n/ noun
trade mission
trade description /tred dskrpʃən/

trade description
noun a description of a product to attract a visit by a group of businesspeople to

customers discuss trade 쑗 He led a trade mission to
China.
Trade Descriptions Act /tred d
Trade Descriptions Act
trade-off / tred ɒf/ noun an act of ex-

| trade-off
skrpʃənz kt/ noun an act which lim- changing one thing for another as part of
its the way in which products can be de- a business deal (NOTE: The plural is
scribed so as to protect customers from trade-offs.)
wrong descriptions made by manufactur-
trade paper /tred pepə/ noun a
trade paper
ers
newspaper aimed at people working in a
trade directory /tred darekt(ə)ri/
trade directory
|
specific industry
noun a book which lists all the businesses trade practices /tred prktsz/
trade practices
and business people in a town plural noun same as industrial practic-

trade discount /tred dskaυnt/
trade discount
es
noun a reduction in price given to a cus- trade press /tred pres/ noun all
trade press
tomer in the same trade magazines produced for people working

traded options /tredd ɒpʃənz/
traded options
in a certain trade
plural noun options to buy or sell shares trade price /tred pras/ noun a spe-
trade price
at a specific price on a specific date in the cial wholesale price paid by a retailer to
future, which themselves can be bought the manufacturer or wholesaler
or sold trader / tredə/ noun 1. a person who
trader
trade fair /tred feə/ noun a large ex- does business 2. a person who buys or
trade fair
hibition and meeting for advertising and sells stocks, shares and options
selling a specific type of product 쑗 There trade secret /tred sikrət/ noun in-
trade secret
are two trade fairs running in London at formation (especially about manufactur-
the same time – the carpet manufacturers’ ing) which a company has and will not
and the mobile telephones. give to other companies
423 training board

tradesman /tredzmən/ noun 1. a trading floor /tredŋ flɔ/ noun same
tradesman trading floor
shopkeeper 2. US a skilled craftsman as dealing floor

(NOTE: [all senses] The plural is trades- trading loss /tredŋ lɒs/ noun a situ-
trading loss
men.) ation where a company’s receipts are less

tradespeople /tredzpip(ə)l/ plural
tradespeople
| than its expenditure

noun shopkeepers trading partner /tredŋ pɑtnə/
trading partner
trade surplus /tred s&pləs/ noun

trade surplus
noun a company or country which trades

the difference in value between a coun- with another
try’s high exports and lower imports trading profit /tredŋ prɒft/ noun
trading profit
‘Brazil’s trade surplus is vulnerable both a result where the company’ receipts are
to a slowdown in the American economy higher than its expenditure
and a pick-up in its own’ [Economist]
trading session /tredŋ seʃ(ə)n/
trading session
trade terms /tred t&mz/ plural noun

trade terms
noun one period (usually a day) during

a special discount for people in the same which trading takes place on a stock ex-
trade change
trade union /tred junjən/, trades
trade union
trading stamp /tredŋ stmp/ noun

trading stamp
union /tredz junjən/ noun an em- a special stamp given away by a shop,
ployees’ organisation which represents its which the customer can collect and ex-
members in discussions with employers change later for free goods
about wages and conditions of employ-
traffic /trfk/ noun 1. the movement
traffic
ment 쑗 Both the trade union representa-

tives and the management side hope to be of cars, lorries, trains or planes; move-
able to avert a strike. 쑗 The trade union is ment of people or goods in vehicles 쑗
negotiating with the management for a there is an increase in commuter traffic or
shorter working week. 쑗 He has applied goods traffic on the motorway 쑗 Passen-
for trade union membership or he has ap- ger traffic on the commuter lines has de-
plied to join a trade union. creased during the summer. 2. an illegal
trade 쑗 drugs traffic or traffic in drugs 쐽
trade unionist /tred junjənst/
trade unionist
verb to deal illegally 쑗 they are trafficking

noun a member of a trade union in drugs (NOTE: trafficking – trafficked)
trade-weighted index /tred wetd
trade-weighted index
train /tren/ verb 1. to teach someone to

train
ndeks/ noun an index of the value of a do something 쑗 She trained as an ac-

currency calculated against a basket of countant. 쑗 The company has appointed
currencies a trained lawyer as its managing director.
trading /tredŋ/ noun 1. the business
trading
2. to learn how to do something

of buying and selling 2. an area of a bro- trainee /treni/ noun a person who is
trainee
king house where dealing in securities is learning how to do something 쑗 We take

carried out by phone, using monitors to five graduates as trainees each year. 쑗
display current prices and stock exchange Office staff with leadership potential are
transactions selected for courses as trainee managers.
trading account /tredŋ əkaυnt/
trading account
|
쑗 We employ an additional trainee ac-
noun an account of a company’s gross countant at peak periods.
profit traineeship /treniʃp/ noun a post
traineeship
trading area /tredŋ eəriə/ noun a

trading area
as a trainee
group of countries which trade with each training /trenŋ/ noun the process of
training
other being taught how to do something 쑗

trading bloc /tredŋ blɒk/ noun a
trading bloc
There is a ten-week training period for

group of countries which trade with each new staff. 쑗 The shop is closed for staff
other on special terms training. 쑗 After six months’ training he
trading company /tredŋ
trading company
thought of himself as a professional sales-

kmp(ə)ni/ noun a company which spe- man.
cialises in buying and selling goods training board /trenŋ bɔd/ noun a
training board
trading estate /tredŋ stet/ noun

trading estate
| government organization set up by each

an area of land near a town specially for industry to provide and coordinate train-
building factories and warehouses ing for that industry
training levy 424

training levy /trenŋ levi/ noun a don airport, you have to transfer onto an
training levy
tax to be paid by companies to fund the internal flight. (NOTE: transferring –

government’s training schemes transferred)
training officer /trenŋ ɒfsə/ noun transferable /trnsf&rəb(ə)l/ adjec-
training officer transferable
a person who deals with the training of tive possible to pass to someone else 왍
staff in a company the season ticket is not transferable the
training unit /trenŋ junt/ noun a ticket cannot be given or lent to someone
training unit
special group of teachers who organise else to use

training for companies transfer of property /trnsf& əv
transfer of property
tranche /trɑnʃ/ noun one of a series of prɒpəti/, transfer of shares /trnsf&
tranche
instalments, used when referring to loans əv ʃeəz/ noun the act of moving the
to companies, government securities ownership of property or shares from one
which are issued over a period of time, or person to another
money withdrawn by a country from the Transfer of Undertakings
Transfer of Undertakings (Pro-

IMF 쑗 The second tranche of interest on tection of Employment) full form of
the loan is now due for payment. TUPE
transact /trnzkt/ verb 왍 to trans-
transact
passenger /trnsf&

transfer passenger
|
transfer
act business to carry out a piece of busi- psnd$ə/ noun a traveller who is
ness changing from one aircraft or train or bus
transaction / trnzkʃən/ noun 왍 a
transaction
|
to another, or to another form of transport
transaction on the Stock Exchange a transferred charge call /trns f&d
transferred charge call
purchase or sale of shares on the Stock tʃɑd$ kɔl/ noun a phone call where the
Exchange 쑗 The paper publishes a daily person receiving the call agrees to pay for
list of Stock Exchange transactions. 왍 it
fraudulent transaction a transaction
transformative potential /trns
transformative potential
which aims to cheat someone |
‘…the Japan Financial Intelligence Office fɔmətv pətenʃ(ə)l/ noun the ability
|
will receive reports on suspected criminal of something such as information tech-

transactions from financial institutions, nology to change the economy, society
determine where a probe should be and business
launched and provide information to in- tranship /trnʃp/ verb to move cargo
tranship
vestigators’ [Nikkei Weekly] from one ship to another (NOTE: tran-

transactional analysis /trn
transactional analysis
| shipping – transhipped)
zkʃ(ə)nəl ənləss/ noun a psycho-
|
transit /trnst/ noun the movement
transit
logical theory, sometimes used in educa- of passengers or goods on the way to a

tion and training, that describes patterns destination 쑗 Some of the goods were
of feeling, thought, and behaviour that in- damaged in transit. 왍 goods in transit
fluence how individuals interact with, goods being transported from warehouse
communicate with, and relate to each oth- to customer
er 쑗 Transactional analysis sessions have
transit visa /trnst vizə/ noun a
transit visa
helped many of our managers deal more

effectively with subordinates. document which allows someone to
spend a short time in one country while
transfer /trnsf&/ noun an act of
transfer
travelling to another country

moving an employee to another job in the
translate /trnslet/ verb 1. to put
translate
same organisation 쑗 She applied for a |
transfer to our branch in Scotland. 쐽 verb something which is said or written in one
1. to move someone or something to a dif- language into another language 쑗 He
ferent place, or to move someone to an- asked his secretary to translate the letter
other job in the same organisation 쑗 The from the German agent. 쑗 We have had
accountant was transferred to our Scot- the contract translated from French into
tish branch. 쑗 He transferred his shares Japanese. 2. to change something into an-
to a family trust. 쑗 She transferred her other form
translation /trnsleʃ(ə)n/ noun
translation
money to a deposit account. 2. to move an |
employee to another job in the same or- something which has been translated 쑗
ganisation 3. to change from one type of She passed the translation of the letter to
travel to another 쑗 When you get to Lon- the accounts department.
425 Treasury
translation bureau /trnsleʃ(ə)n least ten times a year. 2. to go from one
translation bureau
bjυərəυ/ noun an office which translates place to another, showing a company’s

documents for companies goods to buyers and taking orders from
translator /trnsletə/ noun a person
translator
|
them 쑗 She travels in the north of the
who translates country for an insurance company.
(NOTE: travelling – travelled. The US
transmission /trnzmʃ(ə)n/ noun
transmission
sending 쑗 transmission of a message spelling is traveling – traveled)

travel agency /trv(ə)l ed$ənsi/
travel agency
transmit /trnzmt/ verb to send (a

transmit
noun an office which arranges travel for

message) (NOTE: transmitting – trans-
mitted) customers
travel agent /trv(ə)l ed$ənt/ noun
travel agent
transnational /trnznʃ(ə)nəl/

transnational
noun same as multinational a person in charge of a travel agency

travel allowance /trv(ə)l əlaυəns/
travel allowance
transnational corporation /trnz

transnational corporation
|
noun money which an employee is al-

nʃ(ə)nəl kɔpəreʃ(ə)n/ noun a large
lowed to spend on travelling
|
company which operates in various coun-

travel expenses /trv(ə)l k
travel expenses
tries |
transport /trnspɔt/ noun the mov-

transport
spensz/ plural noun money spent on
ing of goods or people 쑗 air transport or travelling and hotels for business purpos-
transport by air 쑗 rail transport or trans- es
traveller /trv(ə)lə/ noun a person
traveller
port by rail 쑗 road transport or transport

by road 쑗 the passenger transport servic- who travels (NOTE: The US spelling is
es into London 쑗 What means of trans- traveler.)
traveller’s cheques /trv(ə)ləz
traveller’s cheques
port will you use to get to the factory? 쐽

verb /trns pɔt/ to move goods or peo-
|
tʃeks/ plural noun cheques bought by a
ple from one place to another in a vehicle traveller which can be cashed in a foreign
쑗 The company transports millions of country
tons of goods by rail each year. 쑗 The vis- travelling expenses /trv(ə)lŋ ek
travelling expenses
itors will be transported to the factory by spensz/ plural noun money spent on
air or by helicopter or by taxi. travelling and hotels for business purpos-
transportable /trns pɔtəb(ə)l/ ad- es
transportable
jective which can be moved travel magazine /trv(ə)l m!ə

travel magazine
transportation /trnspɔteʃ(ə)n/

transportation
|
zin/ noun a magazine with articles on
noun 1. the moving of goods or people holidays and travel
from one place to another 2. vehicles used travel organisation /trv(ə)l
travel organisation
to move goods or people from one place ɔ!ənazeʃ(ə)n/ noun a body repre-
to another 쑗 The company will provide senting companies in the travel business
transportation to the airport. travel trade /trv(ə)l tred/ noun all
travel trade
transporter /trnspɔtə/ noun a

transporter
| businesses which organise travel for peo-

company which transports goods ple
Transports Internationaux treasurer /tre$ərə/ noun 1. a person
Transports Internationaux Routiers treasurer
Routiers /trɔnspɔz ntensjə | who looks after the money or finances of
nəυ rutie/ noun a system of interna- a club or society, etc. 2. company official
tional documents which allows dutiable responsible for finding new finance for
goods to cross several European countries the company and using its existing finan-
by road without paying duty until they cial resources in the best possible way 3.
reach their final destination. Abbreviation US the main financial officer of a compa-
TIR ny 4. (in Australia) the finance minister in
travel /trv(ə)l/ noun the moving of the government
travel
Treasury /tre$əri/ noun 1. a govern-

Treasury
people from one place to another or from

one country to another 쑗 Overseas travel ment department which deals with the
is a very important part of the job. 쐽 verb country’s finance (NOTE: The term is
1. to move from one place to another or used in both the UK and the US; in most
from one country to another 쑗 He travels other countries this department is called
to the States on business twice a year. 쑗 In the Ministry of Finance.) 2. US same as
her new job, she has to travel abroad at Treasury bill
Treasury bill 426

Treasury bill /tre$əri bl/ noun a of-town office development’
Treasury bill
short-term financial instrument which [Lloyd’s List]

trial /traəl/ noun 1. a court case to
trial
does not give any interest and is sold by

the government at a discount through the judge a person accused of a crime 쑗 He is
central bank. In the UK, their term varies on trial or is standing trial for embezzle-
from three to six months, in the USA, ment. 2. a test to see if something is good
they are for 91 or 182 days, or for 52 왍 on trial in the process of being tested 쑗
weeks. (NOTE: In the USA, they are also The product is on trial in our laborato-
called Treasuries or T-bills.) ries. 쐽 verb to test a product to see how
Treasury bond / tre$əri bɒnd/ noun a
Treasury bond
good it is (NOTE: trialling – trialled)
trial balance /traəl bləns/ noun
trial balance
long-term bond issued by the British or

US government the draft calculation of debits and credits
Treasury note /tre$əri nəυt/ noun a
Treasury note
to see if they balance
trial period /traəl pəriəd/ noun the
trial period
medium-term bond issued by the US gov-

ernment time when a customer can test a product
Treasury Secretary
Treasury Secretary
/tre$əri before buying it

trial sample /traəl sɑmpəl/ noun a
trial sample
sekrət(ə)ri/ noun US the member of the

US government in charge of finance small piece of a product used for testing
tribunal /trabjun(ə)l/ noun an offi-
tribunal
(NOTE: The equivalent of the Finance |
Minister in most countries, or of the cial court which examines special prob-
Chancellor of the Exchequer in the lems and makes judgements
trigger /tr!ə/ noun a thing which
trigger
UK)
Treasury stocks /tre$əri stɒkz/ plu-
Treasury stocks
starts a process 쐽 verb to start a process
ral noun stocks issued by the British gov- ‘…the recovery is led by significant de-
ernment. Also called Exchequer stocks clines in short-term interest rates, which
are forecast to be roughly 250 basis points
treasury tag /tre$əri t!/ noun a
treasury tag
below their previous peak. This should

short piece of string with two metal pieces trigger a rebound in the housing markets
at the ends, which are put through holes in and consumer spending on durables’
sheets of paper or cards to hold them to- [Toronto Globe & Mail]
gether COMMENT: If an individual or a company
treaty /triti/ noun 1. an agreement be- buys 5% of a company’s shares, this
treaty
tween countries 쑗 The two countries shareholding must be declared to the

company. If 15% is acquired it is as-
signed a commercial treaty. 2. an agree- sumed that a takeover bid will be made,
ment between individual persons 왍 to sell and no more shares can be acquired for
a house by private treaty to sell a home seven days to give the target company
to another person not by auction time to respond. There is no obligation to
make a bid at this stage, but if the hold-
treble /treb(ə)l/ verb to increase three
treble
ing is increased to 30%, then a takeover

times, or to make something three times bid must be made for the remaining
larger 쑗 The company’s borrowings have 70%. If 90% of shares are owned, then
trebled. 쑗 The acquisition of the chain of the owner can purchase all outstanding
stores has trebled the group’s turnover. 쐽 shares compulsorily. These trigger
adverb three times 쑗 Our borrowings are points are often not crossed, and it is
common to see that a company has ac-
treble what they were last year. quired 14.9% or 29.9% of another com-
trend /trend/ noun a general way in
trend
pany’s shares.
which things are developing 쑗 a down- trigger point /tr!ə pɔnt/ noun a
trigger point
ward trend in investment 쑗 There is a point in acquiring shares in a company

trend away from old-established food where the purchaser has to declare an in-
stores. 쑗 The report points to inflationary terest or to take certain action
trends in the economy. 쑗 We notice a gen- COMMENT: If an individual or a company
eral trend towards selling to the student buys 5% of a company’s shares, this
market. 쑗 We have noticed an upward shareholding must be declared to the
trend in sales. company. If 15% is acquired it is as-
sumed that a takeover bid will be made,
‘…the quality of building design and ease and no more shares can be acquired for
of accessibility will become increasingly seven days to give the target company
important, adding to the trend towards out- time to respond. There is no obligation to
427 trust
make a bid at this stage, but if the hold- shooter to try to sort out the management
ing is increased to 30%, then a takeover problems.
bid must be made for the remaining
trough /trɒf/ noun a low point in the
trough
70%. If 90% of shares are owned, then

the owner can purchase all outstanding economic cycle
shares compulsorily. These trigger troy ounce /trɔ aυns/ noun a meas-
troy ounce
points are often not crossed, and it is

common to see that a company has ac- urement of weight (= 31.10 grammes)
quired 14.9% or 29.9% of another com- (NOTE: In writing, often shortened to troy
pany’s shares. oz. after figures: 25.2 troy oz.)
trillion /trljən/ noun one million mil- troy weight /trɔ wet/ noun a system
trillion troy weight
lions (NOTE: In the UK, trillion now has of measurement of weight used for gold
the same meaning as in the USA; for- and other metals, such as silver and plati-
merly in UK English it meant one million num
million millions, and it is still sometimes COMMENT: Troy weight is divided into
used with this meaning; see also the grains, pennyweights (24 grains = 1 pen-
note at billion.) nyweight), ounces (20 pennyweights = 1
ounce) and pounds (12 troy ounces = 1
‘…if land is assessed at roughly half its pound). Troy weights are slightly less
current market value, the new tax could than their avoirdupois equivalents; the
yield up to ¥10 trillion annually’ troy pound equals 0.37kg or 0.82lb avoir-
[Far Eastern Economic Review] dupois; see also avoirdupoids.
‘…behind the decline was a 6.1% fall in truck /trk/ noun 1. a large motor vehi-
truck
exports to ¥47.55 trillion, the second year cle for carrying goods 2. an open railway
of falls. Automobiles and steel were wagon for carrying goods
among categories showing particularly
trucker /trkə/ noun a person who
trucker
conspicuous drops’ [Nikkei Weekly]

‘…the London Stock Exchange said that drives a truck
trucking /trkŋ/ noun the carrying of
trucking
the value of domestic UK equities traded

during the year was £1.4066 trillion, more goods in trucks 쑗 a trucking firm
than the capitalization of the entire Lon- truckload /trkləυd/ noun a quantity
truckload
don market and an increase of 36 per cent of goods that fills a truck
compared with previous year’s total of
true /tru/ adjective correct or accurate
true
£1.037 trillion’ [Times]

trip / trp/ noun a journey true and fair view /tru ən feə vju/
true and fair view
trip
triple /trp(ə)l/ verb to become three

triple
noun a correct statement of a company’s
times larger, or to multiply something financial position as shown in its accounts
three times 쑗 The company’s debts tripled and confirmed by the auditors
true copy /tru kɒpi/ noun an exact
true copy
in twelve months. 쑗 The acquisition of the

chain of stores has tripled the group’s copy 쑗 I certify that this is a true copy. 쑗
turnover. 쐽 adjective three times as much It is certified as a true copy.
쑗 The cost of airfreighting the goods is trunk call /trŋk kɔl/ noun a call to a
trunk call
triple their manufacturing cost. number in a different zone or area

triplicate /trplkət/ noun 왍 in tripli-
triplicate
trust /trst/ noun 1. the fact of being

trust
cate with an original and two copies 쑗 confident that something is correct or will
The invoices are printed in triplicate. 쑗 work 왍 we took his statement on trust
The application form should be complet- we accepted his statement without exam-
ed in triplicate. 왍 invoicing in triplicate ining it to see if it was correct 2. a legal ar-
the preparing of three copies of invoices rangement to pass goods, money or valu-
trouble /trb(ə)l/ noun a problem or
trouble
ables to someone who will look after

difficult situation 쑗 we are having some them well 쑗 She left his property in trust
computer trouble or some trouble with the for her grandchildren. 3. the management
computer 쑗 we are having some union of money or property for someone 쑗 They
trouble or some trouble with the union 쑗 set up a family trust for their grandchil-
There was some trouble in the warehouse dren. 4. US a small group of companies
after the manager was fired. which control the supply of a product 쐽
troubleshooter /trb(ə)lʃutə/ noun verb 왍 to trust someone with something
troubleshooter
a person whose job is to solve problems in to give something to someone to look af-
a company 쑗 They brought in a trouble- ter 쑗 Can he be trusted with all that cash?
trustbusting 428
trustbusting /trstbstŋ/ noun US factory turns out fifty units per day.
trustbusting
the breaking up of monopolies to encour- turn over phrasal verb 1. to have a spe-
age competition cific amount of sales 쑗 We turn over
trust company /trst kmp(ə)ni/ £2,000 a week. 2. US to pass something
trust company
noun US an organisation which supervis- to someone 쑗 She turned over the docu-
es the financial affairs of private trusts, ments to the lawyer. (NOTE: In this
executes wills, and acts as a bank to a lim- meaning, the usual UK term is hand
ited number of customers over.)
trust deed /trst did/ noun a docu- ‘…a 100,000 square foot warehouse can
trust deed
ment which sets out the details of a pri- turn its inventory over 18 times a year,
vate trust more than triple a discounter’s turnover’
trustee /trsti/ noun a person who has
trustee
‘…he is turning over his CEO title to one

|
charge of money in trust 쑗 the trustees of of his teammates, but will remain chair-
the pension fund man for a year’ [Duns Business Month]
trust fund /trst fnd/ noun assets
trust fund
turn round phrasal verb to make a

such as money, securities or property held company change from making a loss to
in trust for someone become profitable 왍 they turned the
trustworthy /trstw&ði/ adjective
trustworthy
company round in less than a year

(person) who can be trusted 쑗 our cash- they made the company profitable in
iers are completely trustworthy less than a year
Truth in Lending Act /truθ n turnaround /t&nəraυnd/ noun espe-
Truth in Lending Act turnaround
lendŋ kt/ noun a US Act of 1969, cially US same as turnround

which forces lenders to state the full terms turnkey operation
turnkey operation
/,(noun),
of their interest rates to borrowers t&nki ɒpəreʃ(ə)n/ noun a deal where
|
TUC abbr Trades Union Congress

TUC
a company takes all responsibility for

tune /tjun/ noun 왍 the bank is back- constructing, fitting and staffing a build-
tune
ing him to the tune of £10,000 the bank ing (such as a school, hospital or factory)
is helping him with a loan of £10,000 so that it is completely ready for the pur-
TUPE noun the legislation that protects
TUPE
chaser to take over
turnover /t&nəυvə/ noun 1. the
turnover
employees’ rights and contract terms

when one company is bought by another. amount of sales of goods or services by a
There are lots of links on the web – here company 쑗 The company’s turnover has
is the top one from the dti. ht- increased by 235%. 쑗 We based our cal-
tp://www.dti.gov.uk/er/tupe/consult.htm. culations on the forecast turnover. (NOTE:
Full form Transfer of Undertakings The US term is sales volume.) 2. the
(Protection of Employment) number of times something is used or sold
turbulence /t&bjυləns / noun rapid in a period, usually one year, expressed as
turbulence
and unexpected changes within an organ- a percentage of a total

turnover of labour /t&nəυvər əv
turnover of labour
isation or in external conditions, which

affect the organisation’s performance lebə/ noun same as labour turnover
turkey /t&ki/ noun a bad investment, turnover tax /t&nəυvə tks/ noun
turkey turnover tax
an investment which has turned out to be same as sales tax

worthless (informal ) turnround /t&nraυnd/ noun 1. the
turnround
turn /t&n/ noun 1. a movement in a cir-

turn
value of goods sold during a year divided

cle, or a change of direction 2. a profit or by the average value of goods held in
commission 쑗 She makes a turn on every- stock (NOTE: The US term is turna-
thing he sells. 쐽 verb to change direction, round.) 2. the action of emptying a ship,
to go round in a circle plane, etc., and getting it ready for anoth-
turn down phrasal verb to refuse er commercial journey (NOTE: The US
something 쑗 The board turned down the term is turnaround.) 3. the act of making
proposal. 쑗 The bank turned down their a company profitable again ( NOTE: The
request for a loan. 쑗 The application for US term is turnaround.) 4. processing
a licence was turned down. 쑗 He turned orders and sending out the goods
down the job he was offered. ‘…the US now accounts for more than
turn out phrasal verb to produce 쑗 The half our world-wide sales; it has made a
429 typist
huge contribution to our earnings turn- change opens at the same time as the
round’ [Duns Business Month] London one closes.
turnround time /t&nraυnd tam/ two-bin system /tubn sstəm/
two-bin system
turnround time
noun the time taken from receiving an or- noun warehousing system, where the first
der and supplying the goods bin contains the current working stock,
TV spot /ti vi spɒt/ noun a short pe- and the second bin has the backup stock
TV spot
two-part /tupɑt/ adjective paper

two-part
riod on TV which is used for commercials |
쑗 We are running a series of TV spots (for computers or typewriters) with a top

over the next three weeks. sheet for the original and a second sheet
TV station /ti vi steʃ(ə)n/ noun a for a copy 쑗 two-part invoices 쑗 two-part
TV station
building where TV or radio programmes stationery

are produced two-way trade /tu we tred/ noun
two-way trade
24/7 /twenti fɔ sev(ə)n/ adverb trade between two countries or partners
24/7
twenty-four hours a day, every day of the tycoon /takun/ noun an important
tycoon
week (NOTE: Businesses often advertise businessman

themselves as being ‘open 24/7’.)
typewriter /tapratə/ noun a machine
typewriter
24-hour banking /twentifɔr aυə

24-hour banking
which prints letters or figures on a piece

bŋkiŋ/ noun a banking service provid- of paper when keys are pressed 쑗 porta-
ed during the whole day (e.g. by cash dis- ble typewriter 쑗 electronic typewriter
pensers in the street and online services)
typewritten /taprt(ə)n/ adjective
typewritten
COMMENT: 24-hour trading is now possi-

ble because of instant communication to written on a computer keyboard, not
Stock Exchanges in different time zones; handwritten 쑗 He sent in a typewritten
the Tokyo Stock Exchange closes about job application.
two hours before the London Stock Ex-
typing / tapŋ/ noun the act of keying
typing
change opens; the New York Stock Ex-

change opens at the same time as the words on a keyboard 왍 copy typing typ-
London one closes ing documents from handwritten origi-
24-hour service /twenti fɔr aυə nals, not from dictation
24-hour service
s&vs/ noun help which is available for typing error /tapŋ erə/ noun a mis-
typing error
the whole day take made when typing 쑗 The secretary

24-hour trading /twenti fɔr aυə must have made a typing error.
24-hour trading
tredŋ/ trading in bonds, securities and typist /tapst/ noun a person whose
typist
currencies during the whole day job is to write letters using a computer
COMMENT: 24-hour trading is now possi- keyboard 쑗 The HR department needs
ble because of instant communication to more typists to deal with all the corre-
Stock Exchanges in different time zones;
the Tokyo Stock Exchange closes about spondence. 왍 copy typist person who
two hours before the London Stock Ex- types documents from handwritten origi-
change opens; the New York Stock Ex- nals not from dictation
U
ultimate / ltmət/ adjective last or fi- 쑗 unauthorised expenditure 쑗 No unau-
ultimate
nal thorised persons are allowed into the lab-

ultimate consumer /ltmət kən
ultimate consumer
|
oratory.
sjumə/ noun the person who actually unavailability /nəveləblti/ noun
unavailability
uses the product the fact of not being available 쑗 The una-
ultimately /ltmətli/ adverb in the vailability of any reliable sales data
ultimately
end 쑗 Ultimately, the management had to makes forecasting difficult.

unavailable /nəveləb(ə)l/ adjec-
unavailable
agree to the demands of the union. |
ultimatum /ltmetəm/ noun a

ultimatum
|
tive not available 쑗 The following items
statement to someone that unless they do on your order are temporarily unavaila-
something within a period of time, action ble.
will be taken against them 쑗 The union unavoidable /nəvɔdəb(ə)l/ adjec-
unavoidable
officials argued among themselves over tive which cannot be avoided 쑗 Flights
the best way to deal with the ultimatum are subject to unavoidable delays.
from the management. (NOTE: The plural unbalanced /nblənst/ adjective
unbalanced
is ultimatums or ultimata.) referring to a budget which does not bal-

umbrella organisation /mbrelə
umbrella organisation
| ance or which is in deficit

ɔ!ənazeʃ(ə)n/ noun a large organisa- unbanked /nbŋkt/ adjective 1. re-
unbanked
tion which includes several smaller ones ferring to a person who does not have a
UN abbr United Nations
UN
bank account 2. referring to a cheque

unacceptable /nək septəb(ə)l/ ad- which has not been deposited in a bank
unacceptable
jective which cannot be accepted 쑗 The account

terms of the contract are quite unaccepta- unbundling /nbnd(ə)lŋ/ noun 1.
unbundling
ble. the process of separating companies from

unaccounted for /nəkaυntd fɔ/
unaccounted for
| a conglomerate (the companies were in-

adjective lost without any explanation 쑗 dependent in the past, and have been ac-
Several thousand units are unaccounted quired by the conglomerate over a period
for in the stocktaking. of time) 2. US the practice of charging
unanimous /junnməs/ adjective separately for each different service pro-
unanimous
where everyone agrees or votes in the vided

same way 쑗 There was a unanimous vote uncalled /nkɔld/ adjective referring
uncalled
against the proposal. 쑗 They reached to capital which a company is authorised

unanimous agreement. to raise and has been issued but for which
unanimously /junmməsli/ ad- payment has not yet been requested
unanimously
verb with everyone agreeing 쑗 The pro- uncashed /nkʃt/ adjective having
uncashed
posals were adopted unanimously. not been cashed 쑗 uncashed cheques

unaudited /nɔdtd/ adjective hav- unclaimed baggage /nklemd
unaudited
unclaimed baggage
|
ing not been audited 쑗 unaudited ac- b!d$/ noun cases which have been
counts left with someone and have not been
unauthorised /nɔθərazd/, unau- claimed by their owners 쑗 unclaimed
unauthorised
thorized adjective not permitted 쑗 unau- property or unclaimed baggage will be

thorised access to the company’s records sold by auction after six months
431 underlying inflation rate

uncollected /nkəlektd/ adjective undercapitalised /ndə
uncollected undercapitalised
| |
which has not been collected 쑗 uncollect- kptəlazd/, undercapitalized adjec-

ed subscriptions 쑗 uncollected taxes tive without enough capital 쑗 The compa-
unconditional /nkəndʃ(ə)nəl/ ad- ny is severely undercapitalised.
unconditional
undercharge /ndə tʃɑd$/ verb to

undercharge
jective with no conditions or provisions |
attached 쑗 unconditional acceptance of ask someone for too little money 쑗 She
the offer by the board 쑗 After the inter- undercharged us by £25.
view he got an unconditional offer of a underclass /ndəklɑs / noun a group
underclass
job. 왍 the offer went unconditional last of people who are underprivileged in a
Thursday the takeover bid was accepted way that appears to exclude them from
by the majority of the shareholders and mainstream society
therefore the conditions attached to it no undercut /ndəkt/ verb to offer
undercut
longer apply something at a lower price than someone

COMMENT: A takeover bid will become else 쑗 They increased their market share
unconditional if more than 50% of share-
holders accept it. by undercutting their competitors. (NOTE:
undercutting – undercut)
unconditionally /nkən
unconditionally
underdeveloped /ndədveləpt/
| underdeveloped
dʃ(ə)n(ə)li/ adverb without imposing |
any conditions 쑗 The offer was accepted adjective which has not been developed 쑗
unconditionally by the trade union. Japan is an underdeveloped market for
our products.
unconstitutional /nkɒnst
unconstitutional
underdeveloped countries
| underdeveloped countries
tjuʃ(ə)n(ə)l/ adjective not allowed by

the rules of an organisation or by the laws /ndədveləpt kntriz/ plural noun
of a country 쑗 The chairman ruled that countries which are not fully industrial-
the meeting was unconstitutional. ised
underemployed /ndərmplɔd/
underemployed
uncontrollable /nkəntrəυləb(ə)l/
uncontrollable |
adjective with not enough work 쑗 The

|
adjective not possible to control 쑗 uncon-

trollable inflation staff is underemployed because of the cut-
back in production.
uncrossed cheque /nkrɒst tʃek/
uncrossed cheque
underemployed capital
underemployed capital
noun a cheque which does not have two /ndərmplɔd kpt(ə)l/ noun capital
lines across it, and can be cashed any- which is not producing enough interest
where (NOTE: They are no longer used in
underemployment /ndərm
underemployment
the UK, but are still found in other coun- |
tries.) plɔmənt/ noun 1. a situation where

workers in a company do not have enough
undated /ndetd/ adjective with no
undated
|
work to do 2. a situation where there is
date indicated or written 쑗 She tried to not enough work for all the workers in a
cash an undated cheque. country
undated bond /ndetd bɒnd/
undated bond
underequipped /ndərkwpt/ ad-

underequipped
|
|
noun a bond with no maturity date jective with not enough equipment
under /ndə/ preposition 1. lower than
under
underestimate /ndər
underestimate
noun |
or less than 쑗 The interest rate is under estmət/ an estimate which is less than
10%. 쑗 Under half of the shareholders the actual figure 쑗 The figure of £50,000
accepted the offer. 2. controlled by, ac- in turnover was a considerable underesti-
cording to 쑗 Under the terms of the mate. 쐽 verb /ndərestmet/ to think|
agreement, the goods should be delivered that something is smaller or not as bad as
in October. 쑗 He is acting under rule 23 it really is 쑗 They underestimated the ef-
of the union constitution. fects of the strike on their sales. 쑗 He un-
under- / ndə/ prefix less important than
under-
derestimated the amount of time needed

or lower than to finish the work.
underbid /ndəbd/ verb to bid less underlease /ndəlis/ noun a lease
underbid underlease
than someone (NOTE: underbidding – from a tenant to another tenant

underbid) underlying
underlying inflation rate
inflation rate
underbidder /ndəbdə/ noun a per- /ndəlaŋ nfleʃ(ə)n ret/ noun the
underbidder
son who bids less than the person who basic inflation rate calculated on a series
buys at an auction of prices of consumer items, petrol, gas
undermanned 432
and electricity and interest rates. Com- understaffed /ndəstɑft/ adjective
understaffed
pare headline inflation rate with not enough staff to do the company’s
undermanned /ndəmnd/ adjec-
undermanned
|
work
understand /ndəstnd/ verb to
understand
tive with not enough staff to do the work |
쑗 The department will be undermanned know or to see what something means

during the Christmas period. (NOTE: understanding – understood)
understanding /ndəstndŋ/
understanding
undermanning /ndəmnŋ/ noun

undermanning
|
|
a situation of having too few staff than are noun a private agreement 쑗 to come to an
needed to do the company’s work 쑗 The understanding about the divisions of the
company’s production is affected by un- market
understate /ndəstet/ verb to make
understate
dermanning on the assembly line. 쑗 Un- |
dermanning is caused by lack of available something seem less than it really is 쑗

skilled workers in the area. The company accounts understate the
real profit.
undermentioned /ndəmenʃ(ə)nd/
undermentioned
/ndəsb
|
undersubscribed
undersubscribed
adjective mentioned lower down in a doc- |
ument 쑗 See the undermentioned list of skrabd/ adjective referring to a share is-
countries to which these terms apply. sue where applications are not made for
all the shares on offer, and part of the is-
underpaid /ndəped/ adjective not
underpaid
|
sue remains with the underwriters
paid enough 쑗 Our staff say that they are undertake /ndətek/ verb 1. to
undertake
underpaid and overworked. agree to do something 쑗 We asked the re-

underperform /ndəpəfɔm/ verb 왍
underperform
| search unit to undertake an investigation

to underperform the market to perform of the market. 쑗 They have undertaken
worse than the rest of the market 쑗 The not to sell into our territory. (NOTE: un-
hotel group has underperformed the sec- dertaking – undertook – undertaken)
tor this year. 2. to carry out 쑗 They are undertaking a
underperformance
underperformance /ndəpə |
study on employee reactions to pay re-
fɔməns/ noun the fact of performing straint. 쑗 We asked the research unit to
worse than others 쑗 The underperform- undertake an investigation of the market.
undertaking /ndətekŋ/ noun 1. a
undertaking
ance of the shares has worried investors. |
‘Australia has been declining again. Be- business 쑗 He is the MD of a large com-
cause it has had such a long period of un- mercial undertaking. 2. a promise, espe-
derperfomance, it is now not as vulnerable cially a legally binding one 쑗 They have
as other markets’ [Money Observer] given us a written undertaking not to sell
their products in competition with ours.
underrate /ndəret/ verb to value
underrate
under-the-counter sales /ndə ðə

| under-the-counter sales
someone or something less highly than

they should be 쑗 Do not underrate the kaυntə selz/ plural noun black-market
strength of the competition in the Europe- sales
underutilised /ndəjutlazd/, un-
underutilised
an market. 쑗 The power of the yen is un- |
derrated. derutilized adjective not used enough

undervaluation /ndəvljυeʃ(ə)n/
undervaluation
undersell /ndəsel/ verb to sell more

undersell
|
noun the state of being valued, or the act

cheaply than someone 쑗 to undersell a
competitor 왍 the company is never unof valuing something, at less than the true
worth
dersold no other company sells goods as
undervalued /ndəvljud/ adjec-
undervalued
cheaply as this one |
tive not valued highly enough 쑗 The dol-

undersigned / ndəsand/ noun a
undersigned
|
lar is undervalued on the foreign ex-
person who has signed a letter 왍 we, the changes. 쑗 The properties are underval-
undersigned we, the people who have ued on the company’s balance sheet.
signed below ‘…in terms of purchasing power, the dol-
underspend /ndə spend/ verb to
underspend
| lar is considerably undervalued, while the

spend less than you should have spent or US trade deficit is declining month by
were allowed to spend 왍 he has under- month’ [Financial Weekly]
underweight /ndə wet/ adjective
underweight
spent his budget he has spent less than |
was allowed in the budget not heavy enough 왍 the pack is twenty
433 unilateral
grams underweight the pack weighs uneconomic rent /nikənɒmk
uneconomic rent
twenty grams less than it should rent/ noun a rent which is not enough to
underworked /ndəw&kt/ adjective
underworked
|
cover costs
unemployed /nm plɔd/ adjective
unemployed
not given enough work to do 쑗 The direc- |
tors think our staff are overpaid and un- not having any paid work 쐽 noun 왍 the
derworked. unemployed the people without any jobs
unemployment /nmplɔmənt/
unemployment
underwrite /ndərat/ verb 1. to ac-

underwrite
|
|
cept responsibility for something 왍 to un- noun the state of not having any work
derwrite a share issue to guarantee that ‘…tax advantages directed toward small
a share issue will be sold by agreeing to businesses will help create jobs and reduce
buy all shares which are not subscribed 쑗 the unemployment rate’ [Toronto Star]
unemployment benefit /nm
unemployment benefit
The issue was underwritten by three un- |
derwriting companies. 2. to insure, to plɔmənt benft/ noun a payment

cover a risk 쑗 to underwrite an insurance from the government made to someone
policy 3. to agree to pay for costs 쑗 The who is unemployed (NOTE: The US term
government has underwritten the devel- is unemployment compensation.)
unemployment pay /nm
unemployment pay
opment costs of the project. (NOTE: un- |
derwriting – underwrote – has under- plɔmənt pe/ noun money given by the
written) government to someone who is unem-
‘…under the new program, mortgage ployed
unemployment rate /nm
unemployment rate
brokers are allowed to underwrite mort- |
gages and get a much higher fee’ [Forbes plɔmənt ret/ noun the number of peo-
Magazine] ple out of work, shown as a percentage of
underwriter /ndəratə/ noun a per-
underwriter
the total number of people available for
son or company that underwrites a share work. Also called rate of unemploy-
issue or an insurance ment
uneven playing field /niv(ə)n
uneven playing field
COMMENT: When a major company flota- |
tion or share issue or loan is prepared, a pleŋ fild/ noun a situation where the
group of companies (such as merchant competing groups do not compete on the
banks) will form a syndicate to under- same terms and conditions. Opposite lev-
write the flotation: the syndicate will be
organized by the ‘lead underwriter’, to-
el playing field
unfair competition /nfeə kɒmpə
unfair competition
gether with a group of main underwriters; |
these in turn will ask others (‘sub-under- tʃ(ə)n/ noun the practice of trying to do
writers’) to share in the underwriting. better than another company by using
techniques such as importing foreign
underwriting syndicate
underwriting syndicate
/ndəratŋ sndkət/ noun a group of goods at very low prices or by wrongly
underwriters who insure a large risk criticising a competitor’s products
unfair dismissal /nfeə dsms(ə)l/
unfair dismissal
undischarged bankrupt
undischarged bankrupt |
/ndstʃɑd$d bŋkrpt/ noun a per- noun the act of removing someone from a
son who has been declared bankrupt and job for reasons which are not fair
unfulfilled /nfυlfld/ adjective (of
unfulfilled
has not been released from that state |
undistributable reserves
an order) which has not yet been supplied
undistributable reserves
unfulfilled orders /nfυlfld ɔdəz/
unfulfilled orders
/ndstrbjutəb(ə)l rz&vz/ plural |
noun same as capital reserves plural noun orders received in the past
undistributed profit and not yet supplied
undistributed profit ungeared /n!əd/ adjective with no
ungeared
/ndstrbjutd prɒft/ noun a profit

|
borrowings
which has not been distributed as divi-
ungluing /n!luŋ/ noun the process
ungluing
dends to shareholders |
of breaking up an established supply

unearned income /n&nd nkm/
unearned income
chain or group of collaborating organisa-

noun same as investment income tions by taking control of the shared ele-
uneconomic /nikənɒmk/ adjec- ment or interest that previously kept the
uneconomic
tive which does not make a commercial partners together

profit 왍 it is an uneconomic proposition unilateral /junlt(ə)rəl/ adjective
unilateral
it will not be commercially profitable on one side only or done by one party
unilaterally 434
only 쑗 They took a unilateral decision to unit trust 왍 accumulation units units in a
cancel the contract. unit trust, where the dividend is left to ac-
unilaterally /junlt(ə)rəli/ adverb cumulate as new units
unilaterally
by one party only 쑗 The decision was tak- unit cost /junt kɒst/ noun the cost
unit cost
en to cancel the contract unilaterally. of one item, i.e. the total product costs di-
uninsured /nnʃυəd/ adjective not vided by the number of units produced
uninsured
insured 쑗 his art collection is uninsured 쑗 unite /junat/ verb to join together 쑗
unite
She was charged with driving while unin- The directors united with the managers to
sured. reject the takeover bid. 쑗 The three un-
union /junjən/ noun same as trade ions in the factory united to present their
union
union wage claims to the management.

United Nations /junatd
United Nations
‘…the blue-collar unions are the people |
who stand to lose most in terms of employ- neʃ(ə)nz/ noun an organisation which
ment growth’ [Sydney Morning Herald] links almost all the countries of the world
union agreement /junjən ə
union agreement
| to promote good relations between them

!rimənt/ noun an agreement between unit-linked insurance /junt lŋkd
unit-linked insurance
management and a trade union over wag- nʃυərəns/ noun an insurance policy
|
es and conditions of work which is linked to the security of units in

union dues /junjən djuz/, union
union dues
a unit trust or fund

subscriptions /junjən səb |
unit of account /junt əv əkaυnt/
unit of account
skrpʃənz/ plural noun payment made

|
noun a standard unit used in financial

by workers to belong to a union transactions among members of a group,
unionised /junjənazd/, unionized
unionised
e.g. SDRs in the IMF

adjective referring to a company where unit price /junt pras/ noun the
unit price
the members of staff belong to a trade un- price of one item

ion
unit trust /junt trst/ noun an or-
unit trust
‘…after three days of tough negotiations, ganisation which takes money from small
the company reached agreement with its
1,200 unionized workers’ [Toronto Star] investors and invests it in stocks and
shares for them under a trust deed, the in-
unionist /junjənst/ noun a member
unionist
vestment being in the form of shares (or

of a trade union units) in the trust (NOTE: The US term is
union officials /junjən əfʃ(ə)lz/
union officials
|
mutual fund.)
noun paid organisers of a union COMMENT: Unit trusts have to be author-
union recognition /junjən rekə! ised by the Department of Trade and In-
union recognition
nʃ(ə)n/ noun the act of agreeing that a dustry before they can offer units for sale
trade union can act on behalf of staff in a to the public, although unauthorised pri-
vate unit trusts exist.
company
unladen /nled(ə)n/ adjective with-
unladen
unique /junik/ adjective unlike any-

unique |
|
out a cargo 쑗 The ship was unladen when
thing else she arrived in port.
unique selling point /junik selŋ
unique selling point
unlawful /nlɔf(ə)l/ adjective against

unlawful
|
prɒpəzʃ(ə)n/, unique selling propo-

|
the law, not legal

sition noun a special quality of a product
unlimited /nlmtd/ adjective with
unlimited
which makes it different from other goods |
and is used as a key theme in advertising no limits 쑗 The bank offered him unlimit-
쑗 A five-year guarantee is a USP for this ed credit.
unlimited liability /nlmtd laə
unlimited liability
product. 쑗 What’s this product’s unique | |
selling proposition? Abbreviation USP blti/ noun a situation where a sole trad-
unissued capital /nʃud er or each partner is responsible for all a
unissued capital
kpt(ə)l/ noun capital which a compa- firm’s debts with no limit on the amount
ny is authorised to issue but has not issued each may have to pay
unlined paper /nland pepə/ noun
unlined paper
as shares
unit /junt/ noun 1. a single product paper with no lines printed on it
unit
unlisted securities /nlstd s

unlisted securities
for sale 2. a separate piece of equipment | |
or furniture 3. a group of people set up for kjυərtiz/ plural noun shares which are
a special purpose 4. a single share in a not listed on the Stock Exchange
435 unwritten agreement

unload /nləυd/ verb 1. to take goods unsecured debt /nskjυəd det/
unload unsecured debt
off a ship, lorry etc. 쑗 The ship is unload- noun a debt which is not guaranteed by a
ing at Hamburg. 쑗 We need a fork-lift charge on assets or by any collateral
truck to unload the lorry. 쑗 We unloaded unsecured loan /nskjυəd ləυn/
unsecured loan
the spare parts at Lagos. 쑗 There are no noun a loan made with no security
unloading facilities for container ships. unseen /nsin/ adverb not seen
unseen
2. to sell shares which do not seem attrac-

unsettled /nset(ə)ld/ adjective
unsettled
tive 쑗 We tried to unload our sharehold- |
ing as soon as the company published its which changes often or which is upset
unskilled /nskld/ adjective not hav-
unskilled
accounts. |
unobtainable /nəbtenəb(ə)l/ ad-

unobtainable
|
ing specific skills or training 쑗 Using un-
jective which cannot be obtained 쑗 This skilled labour will reduce labour costs. 쑗
spare part is currently unobtainable. Nowadays there is relatively little work
for an unskilled workforce or for unskilled
unofficial /nəfʃ(ə)l/ adjective done
unofficial
workers.
without authority
unsocial /nsəυʃ(ə)l/ adjective 왍 to
unsocial
unofficial strike /nəfʃ(ə)l strak/

unofficial strike |
noun a strike by local employees which

work unsocial hours to work at times
has not been approved by the main trade such as in the evening, at night or during
public holidays when most people are not
union at work
unpaid /nped/ adjective not paid
unpaid
unsold /nsəυld/ adjective not sold 쑗

| unsold
unpaid holiday /nped hɒlde/,

unpaid holiday |
Unsold items will be scrapped.

unpaid leave /nped liv/ noun leave
unsolicited /nsəlstd/ adjective
| unsolicited
during which the employee does not re- |
ceive any pay which has not been asked for 쑗 an unso-
licited gift
unpaid invoices /nped nvɔsz/
unpaid invoices
testimonial /nsə
|
unsolicited
unsolicited testimonial
plural noun invoices which have not been |
paid lstd testməυniəl/ noun a letter |
praising someone or a product, without

unprofitable /nprɒftəb(ə)l/ adjec-
unprofitable
the writer having been asked to write it

|
tive not profitable

unstable /nsteb(ə)l/ adjective not
unstable
‘…the airline has already eliminated a |
number of unprofitable flights’ [Duns stable, changing frequently 쑗 unstable

Business Month] exchange rates
unsubsidised /nsbsdazd/, un-
unsubsidised
unquoted shares /nkwəυtd

unquoted shares
|
ʃeəz/ plural noun shares which have no subsidized adjective with no subsidy
unsuccessful /nsəksesf(ə)l/ ad-
unsuccessful
Stock Exchange quotation |
unrealised
unrealised profit
/nrəlazd
profit |
jective not successful 쑗 an unsuccessful
prɒft/ noun same as paper profit businessman 쑗 The project was expensive
unredeemed pledge /nrdimd
unredeemed pledge
and unsuccessful. 쑗 He made six unsuc-
pled$/ noun a pledge which the borrow- cessful job applications before he finally
er has not claimed back because he or she got a job.
unsuccessfully /nsəksesf(ə)li/
unsuccessfully
has not paid back the loan |
unregistered /nred$stəd/ adjec-

unregistered
|
adverb with no success 쑗 The company
tive referring to a company which has not unsuccessfully tried to break into the
been registered South American market. 쑗 He unsuccess-
unreliable /nrlaəb(ə)l/ adjective
unreliable
|
fully applied for the job of marketing
which cannot be relied on 쑗 The postal manager.
untrue /ntru/ adjective not true
untrue
service is very unreliable. |
/nsild unused / njuzd/ adjective which has

unused
unsealed envelope
unsealed envelope
|
envələυp/ noun an envelope where the not been used 쑗 We are trying to sell off
flap has been pushed into the back of the six unused computers.
unwaged /nwed$d/ noun 왍 the un-
unwaged
envelope, not stuck down |
unsecured creditor /nskjυəd waged people with no jobs

unsecured creditor
kredtə/ noun a creditor who is owed unwritten agreement /nrt(ə)n ə

unwritten agreement
| |
money, but has no security from the debt- !rimənt/ noun agreement which has
or for the debt been reached in speaking (such as in a tel-
up 436
ephone conversation) but has not been formation or equipment to something 왍 to
written down keep something up to date to keep add-
up /p/ adverb, preposition in or to a ing information to something so that it al-
up
higher position 쑗 The inflation rate is go- ways has the latest information in it 쑗 We
ing up steadily. 쑗 Shares were up slightly spend a lot of time keeping our mailing
at the end of the day. 쑗 She worked her list up to date.
way up to become sales director. upturn /pt&n/ noun a movement to-
upturn
update /pdet/ noun information add- wards higher sales or profits 쑗 an upturn
update
ed to something to make it up to date 쑗 in the economy 쑗 an upturn in the market

Here is the latest update on sales. 쐽 verb urgent /&d$ənt/ adjective which has
urgent
/pdet/ to revise something so that it is

| to be done quickly 쑗 This is an urgent de-
always up to date 쑗 The figures are updat- livery – it has to be in New York tomorrow
ed annually. afternoon.
up front /p frnt/ adverb in advance urgently / &d$əntli/ adverb immedi-
up front urgently
upgrade /p!red/ verb to increase the ately

upgrade
importance of someone or of a job 쑗 Her usage /jusd$/ noun the way in which
usage
job has been upgraded to senior manager something is used

level. usance /juzəns/ noun the time be-
usance
upkeep /pkip/ noun the cost of keep-

upkeep
tween the date when a bill of exchange is

ing a building or machine in good order presented and the date when it is paid
uplift /plft/ noun an increase 쑗 The use noun /jus/ a way in which some-
uplift use
contract provides for an annual uplift of thing can be used 왍 to make use of some-
charges. thing to use something 왍 in use being
up market /pmɑkt/ noun a stock worked 쑗 The computer is in use twenty-
up market
market which is rising or is at its highest four hours a day. 왍 items for personal
level 쑗 How your emerging growth fund use items which a person will use for
performs in a down market is just as im- himself, not on behalf of the company 왍
portant as in an up market. he has the use of a company car he has
upmarket /pmɑkt/ adverb, adjec-
upmarket
a company car which he uses privately 쐽
verb /juz/ to take something, e.g. a ma-
|
tive more expensive or appealing to a

wealthy section of the population 왍 the chine, a company or a process, and work
company has decided to move upmar- with it 쑗 We use airmail for all our over-
ket the company has decided to start to seas correspondence. 쑗 The photocopier
produce more luxury items is being used all the time. 쑗 They use free-
upset price /pset pras/ noun the
upset price
lancers for most of their work.
use-by date /juz ba det/ noun a
use-by date
lowest price which the seller will accept

at an auction date printed on a packet of food showing
upside potential /psad pətenʃəl/
upside potential
|
the last date on which the contents should
noun the possibility for a share to in- be used. Compare best-before date,
crease in value. Opposite downside risk sell-by date
useful /jusf(ə)l/ adjective which can
useful
upstream /pstrim/ adjective refer-

upstream
ring to the operations of a company at the help

user /juzə/ noun a person who uses
user
beginning of a process (as drilling for oil

as an operation of a petroleum company). something
user-friendly /juzə frendli/ adjec-
user-friendly
Compare downstream
upstream progress /pstrim prəυ
upstream progress
| |
tive which a user finds easy to work 쑗
!res/ noun progress made despite oppo- These programs are really user-friendly.
user’s guide /juzəz !ad/, user’s
user’s guide
sition or difficult conditions. Opposite

downstream progress handbook /juzəz hndbυk/, user’s
up to /p tu/ preposition as far as, as
up to
manual /juzəz mnjυəl/ noun a book
high as 쑗 We will buy at prices up to £25. showing someone how to use something
up-to-date /p tə det/ adjective, ad- USP abbr unique selling point
USP
up-to-date
verb current, recent or modern 쑗 an up- usual /ju$υəl/ adjective normal or or-
usual
to-date computer system 왍 to bring dinary 쑗 Our usual terms or usual condi-
something up to date to add the latest in- tions are thirty days’ credit. 쑗 The usual
437 validity
practice is to have the contract signed by floor and to keep people and machines at a
the MD. 쑗 The usual hours of work are high level of utilization’ [Duns Business
from 9.30 to 5.30. Month]
usury /ju$əri/ noun the lending of utilise /jutlaz/, utilize verb to use
utilise
usury
money at high interest something

utilisation /jutlazeʃ(ə)n/, utiliza- utility /jutlti/ noun a public service
utilisation utility
| |
tion noun the act of making use of some- company, such as one that supplies water,
thing gas or electricity or runs public transport
‘…control permits the manufacturer to re- 쑗 Shares in utility companies or utilities
act to changing conditions on the plant offer good dividends.
V
vacancy /vekənsi/ noun 1. a job vacate /vəket/ verb 왍 to vacate the
vacancy vacate
which is to be filled 쑗 There are two va- premises to leave premises, so that they
cancies in the human resources depart- become empty
vacation /vəkeʃ(ə)n/ noun 1. a period
vacation
ment. 쑗 We advertised the vacancy both |
internally and in the local press. 쑗 We when the law courts are closed 2. US a
have been unable to fill the vacancy for a holiday or period when people are not
skilled machinist. 쑗 They have a vacancy working 쑗 The CEO is on vacation in
for a secretary. 2. an empty place, empty Montana. 쑗 He was given two weeks’ va-
cation after his wife’s death. 쑗 The job
room comes with a month’s annual vacation.
vacancy rate /vekənsi ret/ noun 1.
vacancy rate
valid /vld/ adjective 1. which is ac-

valid
the average number of rooms empty in a ceptable because it is true 쑗 That is not a
hotel over a period of time, shown as a valid argument or excuse. 쑗 The intelli-
percentage of the total number of rooms gence test is not valid since it does not ac-
2. the average number of office buildings, curately measure basic mental skills. 쑗
shops, etc., which are not let at a particu- The contract is not valid if it has not been
lar time signed by both parties. 2. which can be
used lawfully 쑗 ticket which is valid for
vacant /vekənt/ adjective empty, not
vacant
three months 쑗 The contract is not valid if

occupied it has not been witnessed. 쑗 He was car-
‘…the current vacancy rate in Tokyo rying a valid passport.
stands at 7%. The supply of vacant office validate /vldet/ verb 1. to check to
validate
space, if new buildings are built at the cur- see if something is correct 쑗 The docu-
rent rate, is expected to take up to five ment was validated by the bank. 2. to
years to absorb’ [Nikkei Weekly] make something valid
vacant possession /vekənt pə validation /vldeʃ(ə)n/ noun the
vacant possession
validation
|
|
zeʃ(ə)n/ adjective being able to occupy a act of making something valid

property immediately after buying it be- validity /vəldti/ noun effectiveness or
validity
cause it is empty 쑗 The property is to be usefulness 쑗 The validity of these tests is

sold with vacant possession. questionable since applicants have also
valorem 438
managed to pass them who have been un- Value Added Tax /vlju dd
Value Added Tax
satisfactory in subsequent employment. tks/ noun full form of VAT

valorem /vəlɔrəm/ noun 쏡 ad valor-
valorem
value-adding intermediary
value-adding intermediary
em duty /vlju dŋ ntəmidiəri/ noun a dis-

|
VALS
VALS noun a system of dividing people tributor who increases the value of a prod-
into segments according to their way of uct before selling it to a customer, e.g. by
living. Full form Values and Lifestyles installing software in a computer
value chain /vlju tʃen/ noun the
value chain
valuable /vljυəb(ə)l/ adjective

valuable
sequence of activities a company carries

which is worth a lot of money out as it designs, produces, markets, de-
property /vljυb(ə)l
valuable property
valuable livers, and supports its product or service,

prɒpəti/ noun personal items which are each of which is thought of as adding val-
worth a lot of money ue
valuation /vljueʃ(ə)n/ noun an es- value map /vlju mp/ noun an in-
valuation value map
timate of how much something is worth 쑗 dication of the amount of value that the
to ask for a valuation of a property before market considers a product or service to
making an offer for it 왍 to buy a shop have, which helps to differentiate it from
with stock at valuation when buying a its competitors
shop, to pay a price for the stock which is value network /vlju netw&k/
value network
equal to the value as estimated by the val- noun the links between an organisation
uer 왍 to purchase stock at valuation to and the various collaborators who exter-
pay the price for stock which it is valued nal contributors to its value chain
at valuer /vljυə/ noun a person who es-
valuer
value /vlju/ noun the amount of

value
timates how much money something is

money which something is worth 쑗 the worth
fall in the value of sterling 쑗 She import- variability /veərəbləti/ noun the
variability
ed goods to the value of £2500. 쑗 The val- condition of being variable

uer put the value of the stock at £25,000. variable
variable
/veəriəb(ə)l/ adjective
왍 good value (for money) a bargain, changeable 쐽 noun something which var-
something which is worth the price paid ies
for it 쑗 That restaurant gives value for
variable costs /veəriəb(ə)l kɒsts/
variable costs
money. 쑗 Buy that computer now – it is

very good value. 쑗 Holidays in Italy are plural noun production costs which in-
good value because of the exchange rate. crease with the quantity of the product
왍 to rise or fall in value to be worth more made, e.g. wages or raw materials
variable pricing /veəriəb(ə)l
variable pricing
or less 쐽 verb to estimate how much mon-

ey something is worth 쑗 He valued the prasŋ/ noun the practice of giving a
stock at £25,000. 쑗 We are having the product or service different prices in dif-
jewellery valued for insurance. ferent places or at different times
variable rate /veəriəb(ə)l ret/ noun
variable rate
value added /vlju dd/ noun 1.

value added
the difference between the cost of the ma- a rate of interest on a loan which is not
terials purchased to produce a product fixed, but can change with the current
and the final selling price of the finished bank interest rates. Also called floating
product 2. the amount added to the value rate
variance /veəriəns/ noun the differ-
variance
of a product or service, being the differ-

ence between its cost and the amount re- ence between what was expected and the
ceived when it is sold. Also called net actual results 왍 at variance with not in
output 3. the features that make one agreement with 쑗 The actual sales are at
product or service different from or better variance with the sales reported by the
than another and so create value for the reps.
variation /veərieʃ(ə)n/ noun the
variation
customer (NOTE: Value added in this |
sense is based on the customer’s view amount by which something changes 왍

of what makes a product or service seasonal variations variations which
more desirable than others and worth a take place at different times of the year 쑗
higher price.) seasonal variations in buying patterns 쑗
439 venue
There are marked seasonal variations in VAT inspector /vt nspektə/ noun
VAT inspector
unemployment in the hotel industry. a government official who examines VAT

variety /vəraəti/ noun different types returns and checks that VAT is being paid
variety
of things 쑗 The shop stocks a variety of VAT invoice /vt nvɔs/ noun an in-
VAT invoice
goods. 쑗 We had a variety of visitors at voice which includes VAT

the office today. VAT invoicing /vt nvɔsŋ/ noun
VAT invoicing
variety store /vəraəti stɔ/ noun US the sending of an invoice including VAT
variety store
a shop selling a wide range of usually VATman /vtmn/, vatman noun a
VATman
cheap items VAT inspector (informal)

vary /veəri/ verb to change or to differ VAT office /vt ɒfs/ noun the gov-
vary VAT office
쑗 The gross margin varies from quarter to ernment office dealing with the collection
quarter. 쑗 We try to prevent the flow of of VAT in an area
production from varying in the factory. VDT abbr visual display terminal
VDT
VAT /vi e ti, vt/ noun a tax on

VAT
VDU abbr visual display unit

VDU
goods and services, added as a percentage vending /vendŋ/ noun selling

vending
to the invoiced sales price 쑗 The invoice vending machine /vendŋ məʃin/
vending machine
includes VAT at 17.5%. 쑗 The govern- noun same as automatic vending ma-
ment is proposing to increase VAT to chine
22%. 쑗 Some items (such as books) are
vendor /vendə/ noun 1. a person who
vendor
zero-rated for VAT. 쑗 He does not charge

VAT because he asks for payment in cash. sells something, especially a property 쑗
the solicitor acting on behalf of the ven-
Full form Value Added Tax
dor 2. a person who sells goods
‘…the directive means that the services of
venture /ventʃə/ noun a commercial
venture
stockbrokers and managers of authorized

unit trusts are now exempt from VAT; pre- deal which involves a risk 쑗 They lost
viously they were liable to VAT at the money on several import ventures. 쑗
standard rate. Zero-rating for stockbro- She’s started a new venture – a computer
kers’ services is still available as before, shop. 쐽 verb to risk money
venture capital /ventʃə kpt(ə)l/
venture capital
but only where the recipient of the service

belongs outside the EC’ [Accountancy] noun capital for investment which may
COMMENT: In the UK, VAT is organised easily be lost in risky projects, but can
by the Customs and Excise Department, also provide high returns. Also called
and not by the Treasury. It is applied at
each stage in the process of making or risk capital
venture capitalist /ventʃə
venture capitalist
selling a product or service. Company ‘A’

charges VAT for their work, which is kpt(ə)lst/ noun a finance house or
bought by Company ‘B’, and pays the private individual specialising in provid-
VAT collected from ‘B’ to the Customs ing venture capital. Abbreviation VC
and Excise; Company ‘B’ can reclaim the
VAT element in Company ‘A’’s invoice ‘…along with the stock market boom of
from the Customs and Excise, but will the 1980s, the venture capitalists piled
charge VAT on their work in their invoice more and more funds into the buyout busi-
to Company ‘C’. Each company along ness, backing bigger and bigger deals with
the line charges VAT and pays it to the ever more extravagant financing struc-
Customs and Excise, but claims back tures’ [Guardian]
any VAT charged to them. The final con- venture management /ventʃə
venture management
sumer pays a price which includes VAT,

and which is the final VAT revenue paid mnd$mənt/ noun a type of manage-
to the Customs and Excise. Any compa- ment in which various sections within an
ny or individual should register for VAT if organisation, typically research and de-
their annual turnover or income is above velopment, corporate planning, market-
a certain level. ing, finance and purchasing, work togeth-
VAT declaration /vt deklə
VAT declaration
| er to encourage an entrepreneurial spirit

reʃ(ə)n/ noun a statement declaring among employees, to increase innovation,
VAT income to the VAT office and to develop new products more quick-
VAT inspection /vt nspekʃ(ə)n/ ly
VAT inspection
venue /venju/ noun a place where a

venue
noun a visit by officials of the Customs

and Excise Department to see if a compa- meeting is to be held 쑗 The venue for the
ny is correctly reporting its VAT exhibition has been changed from the li-
verbal 440
brary to the conference centre. 쑗 The lec- ing she wants to keep the business work-
ture theatre is not a good venue for infor- ing because she will make more money if
mal presentations. 쑗 We’re having trou- it does
ble finding a suitable venue for our vet /vet/ verb to examine something
vet
annual show this year. carefully 쑗 All candidates have to be vet-

verbal /v&b(ə)l/ adjective using spo-
verbal
ted by the managing director. 쑗 The con-

ken words, not writing tract has been sent to the legal depart-
verbal agreement /v&b(ə)l ə ment for vetting. (NOTE: vetting – vet-
verbal agreement
!rimənt/ noun an agreement which is ted)

spoken (such as over the telephone) via /vaə/ preposition using (a means or
via
verbal contract /v&b(ə)l kɒntrkt/ a route) 쑗 The shipment is going via the
verbal contract
noun same as verbal agreement Suez Canal. 쑗 We are sending the cheque
verbally /v&bəli/ adverb using spoken via our office in New York. 쑗 They sent the
verbally
words, not writing 쑗 They agreed to the message via email.

viability /vaəblti/ noun the fact of
viability
terms verbally, and then started to draft |
the contract. 쑗 He was warned verbally being viable or being able to make a profit
that his work was not up to standard. viable /vaəb(ə)l/ adjective which can
viable
verbal permission /v&b(ə)l pə

verbal permission
| work in practice
mʃ(ə)n/ noun an act of telling someone vice- /vas/ prefix deputy or second in
vice-
that they are allowed to do something command 쑗 He is the vice-chairman of an

verification /verfkeʃ(ə)n/ noun
verification
|
industrial group. 쑗 She was appointed to
the process of checking if something is the vice-chairmanship of the committee.
correct 쑗 The shipment was allowed into vice-president /vas prezd(ə)nt/
vice-president
the country after verification of the docu- noun US one of the executive directors of
ments by customs. a company
verify /verfa/ verb to check to see if
verify
victimisation /vktmazeʃ(ə)n/,
victimisation
something is correct victimization noun the unfair or unrea-

version /v&ʃ(ə)n/ verb to adapt a web-
version
sonable treatment of one employee by

site for different categories of customer their employer or by other employees 쑗
by maintaining different versions of it Victimisation can come from senior em-
vertical /v&tk(ə)l/ adjective upright,
vertical
ployees’ fear of losing their jobs to jun-

straight up or down iors, or from racial and sexual prejudice.
vertical communication /vdiəυ
vertical communication
videoconferencing
videoconferencing
/v&tk(ə)l kəmjunkeʃ(ə)n/ noun

| |
kɒnf(ə)rənsŋ/ noun the use of live vid-
communication between senior managers eo links that enable people in different lo-
via the middle management to the work- cations to see and hear one another and so
force to discuss matters and hold meetings
vertical integration /v&tk(ə)l nt
vertical integration
| without being physically present together

!reʃ(ə)n/ noun the extent to which sup- in one place
ply-chain activities are controlled within view /vju/ noun a way of thinking
view
an organisation. Same as backward inte- about something 쑗 We asked the sales

gration manager for his views on the reorganisa-
vertical linkage analysis
vertical linkage analysis
tion of the reps’ territories. 쑗 The chair-

/v&tk(ə)l lŋkd$ ənləss/ noun a
| man takes the view that credit should nev-
type of analysis that considers the value er be longer than thirty days. 왍 to take
chain as extending beyond the organisa- the long view to plan for a long period be-
tion itself and including both suppliers fore your current investment will become
and users. In this way it maximises the profitable 왍 in view of because of 쑗 In
number of points in the chain where value view of the falling exchange rate, we have
can be created for customers. redrafted our sales forecasts.
vessel /ves(ə)l/ noun a ship VIP abbr very important person 왍 we
vessel
VIP
vested interest /vestd ntrəst/

vested interest
laid on VIP treatment for our visitors,

noun a special interest in keeping an ex- we gave our visitors a VIP reception we
isting state of affairs 왍 she has a vested arranged for our visitors to be looked after
interest in keeping the business work- and entertained well
441 vocational training

VIP lounge /vi a pi laυnd$/ special VISA /vizə/ trademark a trademark for
VIP lounge VISA
room at an airport for important travellers an international credit card system

viral effect /varəl fekt/ noun the visible /vzb(ə)l/ adjective referring
viral effect visible
number of recipients of a message who to real products which are imported or ex-
forward the message on to others ported
viral marketing /varəl mɑktŋ/ visible exports /vzəb(ə)l ekspɔts/
visible exports
viral marketing
noun marketing by word of mouth or by plural noun real products which are ex-
spreading advertising messages on the In- ported, as opposed to services
ternet visible imports /vzb(ə)l mpɔts/
visible imports
virement /vaəmənt/ noun a transfer plural noun real products which are im-
virement
of money from one account to another or ported, as opposed to services

visit /vzt/ noun a short stay in a place
visit
from one section of a budget to another

virtual hosting /v&tʃuəl həυstŋ/
virtual hosting
쑗 We are expecting a visit from our Ger-
noun a hosting option, suitable for small man agents. 쑗 He is on a business visit to
and medium-sized businesses, in which London. 쑗 We had a visit from the VAT in-
the customer shares space on the hosting spector. 쐽 verb to go to a place, to see
company’s server that with other organi- someone for a short time 쑗 He spent a
sations (NOTE: In virtual hosting, the week in Scotland, visiting clients in Edin-
hosting company carries out basic burgh and Glasgow. 쑗 The trade delega-
maintenance on hardware, but the cus- tion visited the Ministry of Commerce.
visitor / vztə/ noun 1. a person who
visitor
tomer is responsible for managing the

content and software.) visits 쑗 The chairman showed the Japa-
virtualisation /v&tʃuəla zeʃ(ə)n/
virtualisation
|
nese visitors round the factory. 2. a person
noun the creation of a product, service or who visits a website
organisation that exists only in electronic ‘During the week to December 19, the
systems and has no physical existence number of visitors to consumer e-com-
merce sites jumped 37% compared with
virtual office /v&tʃuəl ɒfs/ noun a
virtual office
the same week last year’ [Times]

workplace that has no physical location visitors’ bureau /vztəz bjυərəυ/
visitors’ bureau
but is created when a number of employ- noun an office which deals with visitors’
ees use information and communications questions
technologies to do their work and collab-
visual display terminal /vzjυəl d
visual display terminal
orate with one another (NOTE: A virtual of- |
fice is characterised by the use of tele- sple t&minəl/, visual display unit
workers, telecentres, mobile workers, /v$υəl dsple junt/ noun a screen
|
hot-desking and hotelling.) attached to a computer which shows the

information stored in the computer. Ab-
virtual organisation /v&tʃuəl
virtual organisation
breviation VDT, VDU

ɔ!ənazeʃ(ə)n/ noun an organisation
| vivos
that often has only a temporary existence vivos 쏡 inter vivos

vocation /vəυkeʃ(ə)n/ noun an occu-
vocation
and consists of a network of companies, |
suppliers, or employees who work togeth- pation that you feel strongly you should
er using information and communications do and have the right skills for 쑗 He found
technology to supply a particular service his vocation as a special needs teacher. 쑗
or product He followed his vocation and became an
virtual team /v&tʃuəl tim/ noun a
virtual team
accountant.
vocational /vəυkeʃ(ə)n(ə)l/ adjec-
vocational
group of employees working in different |
locations who use communications tech- tive referring to a choice of career or oc-
nologies such as groupware, email, an in- cupation which a person wishes to follow
tranet or videoconferencing to collaborate /vəυ
vocational guidance
vocational guidance |
with each other and work as a team keʃ(ə)nəl !ad(ə)ns/ noun the process
visa /vizə/ noun a special document, of helping young people to choose a suit-
visa
special stamp in a passport which allows able job

vocational training /vəυkeʃ(ə)nəl
vocational training
someone to enter a country 쑗 You will |
need a visa before you go to the USA. 쑗 trenŋ/ noun training for a particular
He filled in his visa application form. job
voicemail 442
voicemail /vɔsmel/ noun an elec- high volume of sales a small or large
voicemail
tronic communications system which number of items sold

stores digitised recordings of telephone volume of trade /vɒljum əv tred/
volume of trade
messages for later playback noun same as volume of business

void /vɔd/ adjective not legally valid 쐽
void
voluntarily /vɒlənt(ə)rəl/ adverb

voluntarily
verb 왍 to void a contract to make a con- without being forced or paid

tract invalid
voluntary /vɒlənt(ə)ri/ adjective 1.
voluntary
volatile /vɒlətal/ adjective referring

volatile
done freely without anyone forcing you to

to a market or price which is not stable, act 2. done without being paid
but which rises and falls sharply 쑗 The voluntary arrangement
share has been very volatile since it was voluntary arrangement

launched. /vɒlənt(ə)ri ərend$mənt/ noun same
|
‘…blue chip stocks are the least volatile as scheme of arrangement

voluntary liquidation /vɒlənt(ə)ri
voluntary liquidation
while smaller stocks are the most volatile’

[The Times] lkwdeʃ(ə)n/ noun a situation where a
|
‘…the investment markets appear to have company itself decides it must close and
become ever more volatile, with interest sell its assets
rates moving at times to extreme levels, voluntary organisation
voluntary organisation
and the stock market veering wildly from /vɒlənt(ə)ri ɔ!ənazeʃ(ə)n/ noun an
boom to slump and back again’ organisation which does not receive fund-
[Financial Times Review] ing from the government, but relies on
‘…the FTSE 100 Index ended another vol- contributions from the public
atile session a net 96.3 easier at 6027’
voluntary redundancy /vɒlənt(ə)ri
voluntary redundancy
[Financial Times]
volatility /vɒlətlti/ noun the fact of
volatility
|
rdndənsi/ noun a situation where the
|
being volatile 쑗 Investors are recom- employee asks to be made redundant,

mended to keep their money in building usually in return for a large payment
vote /vəυt/ noun the act of marking a
vote
society accounts because the increasing

volatility of the stock market. paper or holding up your hand, to show
‘…while the technology sector has cer- your opinion or to show who you want to
tainly captured the imagination of private be elected 왍 to take a vote on a proposal,
investors, the enthusiasm it has aroused to put a proposal to the vote to ask peo-
among them is likely to cause extreme ple present at a meeting to say if they do
share price volatility in the short term’ or do not agree with the proposal 쐽 verb
[Financial Times] to show an opinion by marking a paper or
volume /vɒljum/ noun 1. a quantity by holding up your hand at a meeting 쑗
volume
of items 2. the quantity of shares traded The meeting voted to close the factory. 쑗
on a stock market 쑗 average daily vol- 52% of the members voted for Mr Smith
ume: 130,000 shares as chairman. 쑗 Most of the staff voted for
volume business /vɒljum bznəs/
volume business
a strike. 왍 to vote for or against a pro-
noun dealing in large quantities of items posal to say that you agree or do not agree
volume discount
volume discount
/vɒljum with a proposal 왍 two directors were

dskaυnt/ noun the discount given to a voted off the board at the AGM the
customer who buys a large quantity of AGM voted to dismiss two directors 왍
goods she was voted on to the committee she
volume of business /vɒljum əv
volume of business was elected a member of the committee
vote of thanks /vəυt əv θŋks/ plu-
vote of thanks
bzns/ noun the number of items sold,

or the number of shares sold on the Stock ral noun official vote at a meeting to show
Exchange during a day’s trading 쑗 The that the meeting is grateful for what
company has maintained the same vol- someone has done 쑗 The meeting passed
ume of business in spite of the recession. a vote of thanks to the organizing commit-
volume of output /vɒljum əv
volume of output
tee for their work in setting up the inter-
aυtpυt/ noun the number of items pro- national conference.
voter /vəυtə/ noun a person who votes
voter
duced
volume of sales /vɒljum əv selz/ voting /vəυtŋ/ noun the act of making
volume of sales voting
noun the number of items sold 왍 low or a vote

443 wages freeze

voting paper /vəυtŋ pepə/ noun a voting shares /vəυtŋ ʃeəz/ plural
voting paper voting shares
paper on which the voter puts a cross to noun shares which give the holder the
show for whom he or she wants to vote right to vote at company meetings
voting rights /vəυtŋ rats/ plural voucher /vaυtʃə/ noun 1. a piece of
voting rights voucher
noun the rights of shareholders to vote at paper which is given instead of money 2.
company meetings a written document from an auditor to
show that the accounts are correct or that
money has really been paid
W
wage /wed$/ noun the money paid to wage freeze /wed$ friz/ noun a pe-
wage wage freeze
an employee in return for work done, es- riod when wages are not allowed to in-
pecially when it is paid weekly and in crease. Also called freeze on wages,
cash 쑗 She is earning a good wage or wages freeze
good wages for a young person. (NOTE: wage levels /wed$ lev(ə)lz/ plural
wage levels
The plural wages is more usual when noun same as pay levels
referring to the money earned, but wage wage negotiations /wed$ n!əυʃi
wage negotiations
is used before other nouns.) eʃ(ə)nz/ plural noun same as pay ne-
‘European economies are being held back gotiations
by rigid labor markets and wage struc-
wage packet /wed$ pkt/ noun
wage packet
tures’ [Duns Business Month]

‘…real wages have been held down dra- same as pay packet
wage parity /wed$ prti/ noun
wage parity
matically: they have risen at an annual rate

of only 1% in the last two years’ same as pay parity
[Sunday Times] wage-price spiral /wed$ pras
wage-price spiral
COMMENT: The term ‘wages’ refers to spaərəl/ noun a situation where price
weekly or hourly pay for workers, usually rises encourage higher wage demands
paid in cash. For employees paid by a
monthly cheque, the term used is ‘sala- which in turn make prices rise
wage review /wed$ rvju/ noun the
wage review
ry’. |
wage adjustments /wed$

ə examination of salaries or wages in a
wage adjustments
d$stmənts/ plural noun changes made company to see if the employees should
to wages earn more
wage claim /wed$ klem/ noun an wages and prices freeze /wed$z
wage claim wages and prices freeze
act of asking for an increase in wages ən prasz friz/ noun a period when
wage differentials /wed$ dfə wages and prices are not allowed to be in-
wage differentials
renʃəlz/ plural noun same as pay differ- creased

wage scale /wed$ skel/ noun same
wage scale
entials
wage-earner /wed$ &nə/ noun a as pay scale
wage-earner
wages clerk /wed$z klɑk/ noun

wages clerk
person who earns a wage

wage-earning /wed$ &nŋ/ adjec- same as payroll clerk
wage-earning
tive 왍 the wage-earning population peo- wages freeze /wed$z friz/ noun
wages freeze
ple who have jobs and earn money same as wage freeze
wages policy 444

wages policy /wed$z pɒlsi/ noun der special headings such as ‘property for
wages policy
a government policy on what percentage sale’ or ‘jobs wanted’

increases should be paid to workers WAP /wp/ noun a technical language
WAP
wagon /w!ən/ noun a goods truck and set of processing rules that enables
wagon
used on the railway users of mobile phones to access websites

waive /wev/ verb to give up a right 쑗
waive
(NOTE: WAP stands for Wireless Appli-
He waived his claim to the estate. 왍 to cation Protocol and is the equivalent of
waive a payment to say that payment is HTML for mobile phones.)
warehouse /weəhaυs/ noun a large
warehouse
not necessary
waiver /wevə/ noun an act of giving
waiver
building where goods are stored 왍 price
up a right or removing the conditions of a ex warehouse the price for a product
rule 쑗 If you want to work without a per- which is to be collected from the manu-
mit, you will have to apply for a waiver. facturer’s or agent’s warehouse and so
does not include delivery 쐽 verb to store
waiver clause /wevə klɔz/ noun a
waiver clause
goods in a warehouse 쑗 Our offices are in

clause in a contract giving the conditions London but our stock is warehoused in
under which the rights in the contract can Scotland.
be given up
warehouse capacity /weəhaυs kə
warehouse capacity
walk off phrasal verb to stop working psti/ noun the space available in a
and leave an office, factory or task as a warehouse
protest 쑗 The builders walked off the job
warehouseman /weəhaυsmən/
warehouseman
because they said the site was too dan-

gerous. noun a person who works in a warehouse
walk out phrasal verb to stop working (NOTE: The plural is warehousemen.)
warehousing /weəhaυzŋ/ noun the
warehousing
and leave an office or factory as a pro-

test 쑗 The whole workforce walked out act of storing goods in a warehouse 쑗
at the news of her dismissal. Warehousing costs are rising rapidly.
walk-in /wɔk n/ noun a person who war for talent / wɔ fə tlənt/ noun
war for talent
walk-in
approaches an organisation for a job, competition between different organisa-

without knowing if any jobs are available tions to recruit and retain talented staff
warn /wɔn/ verb to say that there is a
warn
(NOTE: The plural is walk-ins.)

walk-out /wɔk aυt/ noun a strike or
walk-out
possible danger 쑗 He warned the share-

stopping work 쑗 Production has been holders that the dividend might be cut. 쑗
held up by the walk-out of the workers. 쑗 The government warned of possible im-
Production has been held up by a work- port duties. 쑗 He was warned that any
ers’ walk-out. (NOTE: The plural is walk- further instances of absenteeism would be
outs.) punished by stopping his pay. (NOTE: You
warn someone of something or that
wallet envelope /wɒlt envələυp/
wallet envelope
noun a type of envelope with the flap something may happen.)

warning /wɔnŋ/ noun a notice of
warning
along the longer side (an envelope with a

flap at the end, on the shorter side, is possible danger 쑗 Warning notices were
called a ‘pocket envelope’) put up around the construction site. 왍 to
wallet file /wɒlt fal/ noun a card-
wallet file
issue a profits warning to state that prof-
its will not be as good as last year, or
board file, with a wide pocket on one side
and a flap which folds down much as predicted
warrant /wɒrənt/ noun an official doc-
warrant
wall safe /wɔl sef/ noun a safe in-

wall safe
stalled in a wall ument which allows someone to do some-

thing 쐽 verb 1. to guarantee 쑗 All the
Wall Street /wɔl strit/ noun 1. a
Wall Street
spare parts are warranted. 2. to show that

street in New York where the Stock Ex- something is reasonable 쑗 The company’s
change is situated 2. the US financial cen- volume of trade with the USA does not
tre 쑗 Wall Street analysts predict a rise in warrant six trips a year to New York by
interest rates. 쑗 She writes the Wall Street the sales director.
column in the newspaper. ‘…the rights issue will grant shareholders
want ads /wɒnt dz/ plural noun US
want ads
free warrants to subscribe for further new

advertisements listed in a newspaper un- shares’ [Financial Times]
445 website
warrantee / wɒrənti/ noun a person weakness /wiknəs/ noun the fact of
warrantee weakness
who is given a warranty being weak or at a low level

warrantor /wɒrəntɔ/ noun a person ‘…indications of weakness in the US
warrantor
who gives a warranty economy were contained in figures from

the Fed on industrial production’
warranty /wɒrənti/ noun 1. a legal
warranty
[Financial Times]
document which promises that a machine wealth /welθ/ noun a large quantity of
wealth
will work properly or that an item is of money owned by a person

good quality 쑗 The car is sold with a
wealth tax /welθ tks/ noun a tax on
wealth tax
twelve-month warranty. 쑗 The warranty

covers spare parts but not labour costs. 2. money, property or investments owned by
a promise in a contract 3. a statement a person
wealthy /welθi/ adjective very rich 쑗
wealthy
made by an insured person which de-

clares that the facts stated by him are true The company is owned by a wealthy
wastage / westd$/ noun an amount
wastage
American businessman.
wear and tear /weər ən teə/ noun
wear and tear
lost by being wasted 쑗 Allow 10% extra

material for wastage. the deterioration of a tangible fixed asset
as a result of normal use. This is recog-
waste /west/ noun material left over
waste
nised for accounting purposes by depreci-

from a production process which is of no ation.
value and is thrown away 쐽 adjective not
web /web/ noun same as World Wide
web
used 쑗 Waste materials are collected from

the factory each week. 쑗 Cardboard is Web
web bug / web b!/ noun a small com-
web bug
made from recycled waste paper. 쐽 verb

to use more than is needed 쑗 to waste puter file, placed in a website user’s
money or paper or electricity or time 쑗 browser so that the user’s actions can be
The MD does not like people wasting her tracked the next time he or she visits the
time with minor details. 쑗 We turned off site
web form /web fɔm/ noun an elec-
web form
all the heating so as not to waste energy.

COMMENT: Industrial waste has no value, tronic document similar to a printed form,
as opposed to scrap which may be sold which can be used to collect information
to a scrap dealer. from a visitor to a website. When the form
wastebasket /westbɑskt/ noun
wastebasket
has been filled in the form, it is usually re-

US same as waste paper basket turned to the owner of the website by e-
wasteful /westf(ə)l/ adjective which
wasteful
mail.
web log /web lɒ!/ noun 1. a record of
web log
wastes a lot of something 쑗 This photo-

copier is very wasteful of paper. activity taking place on a website, which
waste management
waste management /west can provide important marketing infor-

mnd$mənt/, waste control noun mation, e.g. on how many users are visit-
control of the waste produced by an or- ing the site and what they are interested
ganisation to avoid the excessive use of in, as well as highlighting any technical
resources and damage to the environment problems. Also called server log 2. a
through processes such as recycling and personal journal published on the Inter-
to promote the efficient use of materials net, which often encourages other users to
make comments. Also called blog
waste paper basket /west pepə
waste paper basket
webmaster /webmɑstə/ noun the

webmaster
bɑskt/ noun a container into which pa- person who looks after a website, chang-
per or pieces of rubbish can be thrown
ing and updating the information it con-
wasting asset /westŋ st/ noun
wasting asset
tains and noting how many people visit it

an asset which becomes gradually less (NOTE: Several different people within an
valuable as time goes by, e.g. a short lease organisation may share the job of web-
on a property master.)
waybill /webl/ noun a list of goods webpage /webped$/ noun a single
waybill
webpage
being transported, made out by the carrier file of text and graphics, forming part of a
weak market /wik mɑkt/ noun a website
weak market
website /websat/ noun a position on

website
share market where prices tend to fall be-

cause there are no buyers the web, which is created by a company,
website classification 446

organisation or individual, and which an- an economy that is based on intangible as-
yone can visit 쑗 How many hits did we sets such as knowledge rather than physi-
have on our website last week? cal assets
website classification /websat weight limit /wet lmt/ noun the
website classification weight limit
klsfkeʃ(ə)n/ noun the organisation

| maximum weight 쑗 The packet is over the
of the materials on a website into different weight limit for letter post, so it will have
categories, so that they can be easily iden- to go by parcel post.
tified and found by users welfare /welfeə/ noun 1. the practice
welfare
week /wik/ noun a period of seven days

week
of looking after people 쑗 The chairman is

(from Monday to Sunday) 쑗 He earns interested in the welfare of the workers’
£500 a week or per week. 쑗 She works families. 2. money paid by the govern-
thirty-five hours per week or she works a ment to people who need it 쑗 With no job
thirty-five-hour week. 왍 to be paid by the and no savings, he was forced to live on
week to be paid a certain amount of mon- welfare.
ey each week ‘California become the latest state to enact
weekday /wikde/ noun a normal
weekday
a program forcing welfare recipients to

working day (not Saturday or Sunday) work for their benefits’ [Fortune]
weekly /wikli/ adjective done every welfare state /welfeə stet/ noun a
weekly welfare state
week 쑗 The weekly rate for the job is country which looks after the health, edu-
£250. cation, etc., of the people
weekly magazine /wikli m!ə well-known /wel nəυn/ adjective
weekly magazine well-known
zin/ noun a magazine which is pub- known by many people

lished each week well-paid /wel ped/ adjective earn-
well-paid
weigh /we/ verb 1. to measure how

weigh
ing a high salary 쑗 She has a well-paid

heavy something is 쑗 He weighed the job in an accountancy firm.
packet at the post office. 2. to have a cer- wet goods /wet !υdz/ plural noun
wet goods
tain weight 쑗 the packet weighs twenty- goods that are sold in liquid form 쑗 Spe-
five grams cial plastic containers have to be used for
weighbridge /webrd$/ noun a plat-
weighbridge
wet goods. 쑗 Inflammable wet goods are

form for weighing a lorry and its load the most dangerous type of product to
weighing machine /weŋ məʃin/
weighing machine
| transport.
noun a machine which measures how WFM abbr workflow management
WFM
heavy a thing or a person is wharf /wɔf/ noun a place in a dock

wharf
weight /wet/ noun a measurement of

weight
where a ship can tie up to load or unload

how heavy something is 왍 to sell fruit by (NOTE: The plural is wharfs or
weight the price is per pound or per kilo wharves.)
of the fruit 왍 to give short weight to give
wharfage /wɔfd$/ noun a charge for
wharfage
less than you should 쐽 verb to give an ex-

tra value to a factor tying up at a wharf
wharfinger /wɔfnd$ə/ noun a per-
wharfinger
weighted average /wetd

weighted average
v(ə)rd$/ noun an average which is son who works on a wharf

wheeler-dealer /wilə dilə/ noun a
wheeler-dealer
calculated taking several factors into ac-

count, giving some more value than oth- person who lives on money from a series
ers of profitable business deals
weighted index /wetd ndeks/ whereof /weərɒv/ adverb 왍 in witness
whereof
weighted index
noun an index where some important whereof I sign my hand I sign as a wit-
items are given more value than less im- ness that this is correct (formal)
portant ones whistleblower /ws(ə)lbləυə/ noun
whistleblower
weighting /wetŋ/ noun an additional a person who reveals dishonest practices

weighting
salary or wages paid to compensate for (informal)

living in an expensive part of the country white-collar /wat kɒlə/ adjective re-
white-collar
쑗 The salary is £15,000 plus London ferring to office workers

weighting. ‘…the share of white-collar occupations in
weightlessness /wetləsnəs/ noun a
weightlessness
total employment rose from 44 per cent to

quality considered to be characteristic of 49 per cent’ [Sydney Morning Herald]
447 windfall profits tax

white-collar crime /wat kɒlə wholesale dealer /həυlsel dilə/
white-collar crime wholesale dealer
kram/ noun crimes committed by busi- noun a person who buys in bulk from
ness people or office workers (such as manufacturers and sells to retailers
embezzlement, computer fraud or insider wholesale price /həυlsel pras/
wholesale price
dealing) noun the price charged to customers who

white-collar job /wat kɒlə d$ɒb/
white-collar job
buy goods in large quantities in order to

noun a job in an office resell them in smaller quantities to others
white-collar union /wat kɒlə wholesale price index /həυlsel
white-collar union wholesale price index
junjən/ noun a trade union formed of pras ndeks/ noun an index showing
white-collar workers the rises and falls of prices of manufac-
white-collar worker /wat kɒlə tured goods as they leave the factory
white-collar worker
w&kə/ noun a worker in an office, not in wholesaler /həυlselə/ noun a person

wholesaler
a factory who buys goods in bulk from manufactur-

white goods /wat !υdz/ plural noun ers and sells them to retailers
white goods
1. machines which are used in the kitch- wholly-owned subsidiary /həυlli

wholly-owned subsidiary
en, e.g. refrigerators, washing machines əυnd səbsdjəri/ noun a subsidiary

|
2. household linen, e.g. sheets and towels which belongs completely to the parent
white knight /wat nat/ noun a per- company
white knight
son or company which rescues a firm in wildcat strike /waldkt strak/

wildcat strike
financial difficulties, especially one noun a strike organised suddenly by

which saves a firm from being taken over workers without the approval of the main
by an unacceptable purchaser union office
White Paper /wat pepə/ noun a re- will /wl/ noun a legal document where
White Paper will
port issued by the UK government as a someone says what should happen to his
statement of government policy on a par- or her property when he or she dies 쑗 He
ticular problem. Compare Green Paper wrote his will in 1984. 쑗 According to her
white sale /wat sel/ noun a sale of will, all her property is left to her chil-
white sale
sheets, towels, etc. dren.

white squire /wat skwaə/ noun a
white squire
COMMENT: A will should best be drawn up
by a solicitor; it can also be written on a
shareholder who purchases a large form which can be bought from a station-
number of shares, but not a controlling in- ery shop. To be valid, a will must be dat-
terest, in a company in order to prevent it ed and witnessed by a third party (i.e. by
from being taken over someone who is not mentioned in the
whizz-kid /wz kd/ noun a brilliant
whizz-kid
will).
win /wn/ verb to be successful 왍 to win
win
young person who quickly becomes suc-

cessful in business 쑗 She was a whizz-kid a contract to be successful in tendering
who reached head of department in five for a contract 쑗 The company announced
years. that it had won a contract worth £25m to
whole-life insurance /həυl laf n
whole-life insurance
|
supply buses and trucks.
ʃυərəns/, whole-life policy /həυl laf wind up phrasal verb 1. to end a meet-
pɒlsi/ noun an insurance policy where ing, or to close down a business or or-
the insured person pays a fixed premium ganisation and sell its assets 쑗 She
each year and the insurance company wound up the meeting with a vote of
pays a sum when he or she dies. Also thanks to the committee. 2. 왍 to wind
called whole-of-life assurance up a company to put a company into
liquidation 쑗 The court ordered the
wholesale /həυlsel/ adjective, ad-
wholesale
company to be wound up.

verb referring to the business of buying
windfall /wndfɔl/ noun a sudden
windfall
goods from manufacturers and selling

them in large quantities to traders (retail- winning of money or a sudden profit
ers) who then sell in smaller quantities to which is not expected
windfall profit /wndfɔl prɒft/
windfall profit
the general public 쑗 I persuaded him to

give us a wholesale discount. 왍 he buys noun a sudden profit which is not expect-
wholesale and sells retail he buys goods ed
windfall profits tax /wndfɔl
windfall profits tax
in bulk at a wholesale discount and then

sells in small quantities to the public prɒfts tks/, windfall tax /wndfɔl
winding up 448
tks/ noun a tax on companies that have him to withdraw the remarks he has made
made large profits because of circum- about the finance director.
stances outside their usual trading activi- withdrawal /wðdrɔəl/ noun the act
withdrawal
ties. A windfall tax was imposed on the of removing money from an account 쑗 to
privatised utility companies in 1997. give seven days’ notice of withdrawal 쑗
winding up /wandŋ p/ noun liqui-
winding up
Withdrawals from bank accounts reached

dation, the act of closing a company and a peak in the week before Christmas. 왍
selling its assets 왍 a compulsory wind- withdrawal without penalty at seven
ing up order an order from a court saying days’ notice money can be taken out of a
that a company must be wound up deposit account, without losing any inter-
window /wndəυ/ noun a short period
window
est, provided that seven days’ notice has

when something is available or possible been given
window display /wndəυ dsple/ withholding tax /wðhəυldŋ tks/
window display
withholding tax
|
|
noun the display of goods in a shop win- noun US 1. a tax which removes money
dow from interest or dividends before they are
window dressing /wndəυ dresŋ/
window dressing
paid to the investor, usually applied to

noun 1. the practice of putting goods on non-resident investors 2. an amount de-
display in a shop window, so that they at- ducted from a person’s income which is
tract customers 2. the practice of putting an advance payment of tax owed (such as
on a display to make a business seem bet- PAYE) 3. income tax deducted from the
ter or more profitable or more efficient paycheque of an employee before they
than it really is are paid
window envelope /wndəυ with profits /wθ prɒfts/ adverb re-
window envelope with profits
envələυp/ noun an envelope with a hole ferring to an insurance policy which guar-
covered with film so that the address on antees the policyholder a share in the
the letter inside can be seen profits of the fund in which the premiums
window of opportunity /wndəυ əv
window of opportunity
are invested
ɒpətjunti/ noun a short period which
|
witness /wtnəs/ noun a person who
witness
allows an action to take place sees something happen 왍 to act as a wit-

window shopping /wndəυ ʃɒpŋ/
window shopping
ness to a document, a signature to sign

noun the practice of looking at goods in a document to show that you have
shop windows, without buying anything watched the main signatory sign it 쑗 The
win-win situation /wn wn stju
win-win situation
| MD signed as a witness. 쑗 The contract

eʃ(ə)n/ noun a situation in which, what- has to be signed in front of two witnesses.
ever happens or whatever choice is made, 쐽 verb to sign (a document) to show that
the people involved will benefit you guarantee that the other signatures on
WIP abbr work in progress
WIP
it are genuine 쑗 the two directors were

wireless /waələs/ adjective referring
wireless
asked to witness the agreement or the sig-
to communications systems and devices nature
/wtnəs
witness summons
that use mobile phone technology witness summons

withdraw /wðdrɔ/ verb 1. to take
withdraw
| smənz/ noun a court order requiring

money out of an account 쑗 to withdraw someone to appear as a witness (NOTE:
money from the bank or from your ac- This term has now replaced subpoe-
count 쑗 You can withdraw up to £50 from na.)
any cash machine by using your card. 2. women’s magazine /wmnz m!ə
women’s magazine
to take back an offer 쑗 When he found out zin/ noun a magazine aimed at the
more about the candidate, the HR manag- women’s market
er withdrew the offer of a job. 쑗 When the
wording /w&dŋ/ noun a series of
wording
employees went on strike, the company

withdrew its revised pay offer. (NOTE: words 쑗 Did you read the wording on the
withdrawing – withdrew) 왍 one of the contract?
word-processing bureau /w&d
word-processing bureau
company’s backers has withdrawn he

or she stopped supporting the company fi- prəυsesŋ bjυərəυ/ noun an office
nancially 쑗 We expect they will withdraw which specializes in word-processing for
their takeover bid. 쑗 The chairman asked other companies
449 work in progress

work /w&k/ noun 1. things done using work flow /w&k fləυ/ noun 1. the se-
work work flow
the hands or brain 2. a job, something quence of jobs which results in a final
done to earn money 쑗 It is not the work it- product or service 쑗 A flow chart on the
self that the employees are complaining wall showed the work flow for the coming
about 쑗 He goes to work by bus. 쑗 She month. 2. the rate of progress of work
never gets home from work before 8 p.m. done by a business, department or indi-
쑗 His work involves a lot of travelling. 쑗 vidual
He is still looking for work. 쑗 She has workflow management /w&kfləυ
workflow management
been out of work for six months. 쐽 verb 1. mnd$mənt/ noun the process of con-
to do things with your hands or brain, for trolling the flow of material that has to be
money 쑗 The factory is working hard to processed to the department, individual or
complete the order. 쑗 She works better machine that has to process it. Abbrevia-
now that she has been promoted. 왍 to tion WFM
work a machine to make a machine func-
workforce /w&kfɔs/ noun the total
workforce
tion 왍 to work to rule to work strictly ac-

cording to rules agreed between the com- number of employees in an organisation,
pany and the trade union e.g. by not doing industry or country
working /w&kŋ/ adjective 1. refer-
working
overtime, as a protest 2. to have a paid job

쑗 She works in an office. 쑗 He works at ring to a person who works or who per-
Smith’s. forms tasks 쑗 The new rules apply to the
‘…the quality of the work environment whole working population of the country.
demanded by employers and employees 쑗 How large is the working population of
alike’ [Lloyd’s List] the country? 2. referring to work
work out phrasal verb 1. to calculate 쑗 working capital /w&kŋ kpt(ə)l/
working capital
He worked out the costs on the back of noun capital in the form of cash, stocks
an envelope. 쑗 He worked out the dis- and debtors but not creditors, used by a
count at 15%. 쑗 She worked out the dis- company in its day-to-day operations.
count on her calculator. 2. 왍 he is Also called circulating capital, floating
working out his notice he is working capital, net current assets
during the time between resigning and
working conditions /w&kŋ kən
working conditions
actually leaving the company |
workaholic /w&kəhɒlk/ noun a per-

workaholic
|
dʃ(ə)nz/ plural noun the general state of
son who works all the time, and is unhap- the place where people work, e.g. whether
py when not working it is hot, noisy, dark or dangerous
working partner /w&kŋ pɑtnə/
working partner
worker /w&kə/ noun 1. a person who

worker
is employed 왍 worker representation on noun a partner who works in a partner-

the board the fact of having a represent- ship
working party /w&kŋ pɑti/ noun a
working party
ative of the workers as a director of the

company 2. a person who works hard 쑗 group of experts who study a problem 쑗
She’s a real worker. 쑗 She’s a hard work- The government has set up a working par-
er. ty to study the problems of industrial
worker control /w&kə kəntrəυl/ waste. 쑗 Professor Smith is the chairman
worker control
noun the control of an organisation by its of the working party on computers in so-
own employees, or the involvement of ciety.
employees in management working week / w&kŋ wik/ noun
working week
worker director /w&kə darektə/

worker director
| the usual number of hours worked per

noun a director of a company who is a week 쑗 Even though he is a freelance, he
representative of the workforce works a normal working week.
worker participation /w&kə work in progress /w&k n
worker participation work in progress
pɑtspeʃ(ə)n/ noun the practice of

|
prəυ!res/ noun the value of goods being
employees sharing in the company’s plan- manufactured which are not complete at
ning and decision-making the end of an accounting period 쑗 Our
work experience / w&k k
work experience
| current assets are made up of stock, good-

spəriəns/ noun the practice of a student will and work in progress. Abbreviation
working for a company to gain experience WIP (NOTE: The US term is work in
of how businesses work process.)
workload 450
‘…the control of materials from purchased printer, telephone and other office items
parts through work in progress to finished at which an employee in an office works
goods provides manufacturers with an op-
work study /w&k stdi/ noun the
work study
portunity to reduce the amount of money

tied up in materials’ [Duns Business
analysis of activities carried out by em-
Month] ployees in the course of their work for an
organisation in order to improve efficien-
workload /w&kləυd/ noun the
workload
cy or as part of quality management

amount of work which a person has to do
work-to-rule /w&k tə rul/ noun an
work-to-rule
쑗 He has difficulty in coping with his

heavy workload. act of working strictly according to the
rules agreed between the union and man-
workman /w&kmən/ noun a man who
workman
agement e.g. by not doing any overtime,

works with his hands (NOTE: The plural is as a protest
workmen.)
workweek /w&kwik/ noun US the
workweek
workmanship /w&kmənʃp/ noun

workmanship
usual number of hours worked per week

the skill of a good workman 왍 bad or 쑗 She works a normal 35-hour workweek.
shoddy workmanship bad work done by
world /w&ld/ noun the people in a spe-
world
a workman
cific business or people with a special in-
work permit /w&k p&mt/ noun an
work permit
terest 쑗 the world of big business 쑗 the

official document which allows someone world of lawyers or the legal world
who is not a citizen to work in a country
‘…the EU pays farmers 27 cents a pound
workplace /w&kples/ noun a place
workplace
for sugar and sells it on the world market

where you work for 5 cents’ [Duns Business Month]
‘…every house and workplace in Britain is ‘…manufactures and services were the
to be directly involved in an energy effi- fastest growing sectors of world trade’
ciency campaign’ [Times] [Australian Financial Review]
works /w&ks/ noun a factory 쑗 There is World Bank /w&ld bŋk/ noun a
works
World Bank
a small engineering works in the same central bank, controlled by the United Na-
street as our office. 쑗 The steel works is tions, whose funds come from the mem-
expanding. (NOTE: takes a singular or ber states of the UN and which lends
plural verb) money to member states
works committee /w&ks kəmti/, world rights /w&ld rats/ plural
works committee
world rights
works council /w&ks kaυnsəl/ noun noun the right to sell the product any-
a committee of employees and manage- where in the world
ment which discusses the organisation of World Trade Organization / w&ld
World Trade Organization
work in a factory tred ɔ!ənazeʃ(ə)n/ noun an inter-

|
work-sharing /w&k ʃeərŋ/ noun 1.

work-sharing
national organisation set up with the aim

a system that allows two or more part- of reducing restrictions in trade between
timers to share one job, each doing part of countries. Abbreviation WTO
the work for part of the pay 2. a system worldwide /w&ldwad/; /w&ld
worldwide
where employees agree to share work wad/ adjective, adverb everywhere in

when there is less work available, so as to the world 쑗 The company has a world-
avoid redundancies wide network of distributors. 쑗 World-
workshop /w&kʃɒp/ noun a small
workshop
wide sales or Sales worldwide have

factory topped two million units. 쑗 This make of
works manager /w&ks mnd$ə/ computer is available worldwide.
works manager
noun a person in charge of a works World Wide Web /w&ld wad web/
World Wide Web
workspace /w&kspes/ noun the noun an information system on the Inter-

workspace
memory or space available on a computer net that allows documents to be linked to

for temporary work one another by hypertext links and ac-
workstation /w&ksteʃ(ə)n/ noun a
workstation
|
commodates websites and makes them
desk, usually with a computer terminal, accessible. Also called web
worth
451 WTO
worth /w&θ/ adjective having a value or written off after the accident the in-
a price 쑗 Don’t get it repaired – it’s worth surance company considered that both
only £25. 쑗 The car is worth £6,000 on cars were a total loss 왍 the cargo was
the secondhand market. 왍 he is worth written off as a total loss the cargo was
£10m he owns property, investments, etc., so badly damaged that the insurers said
which would sell for £10m 왍 what are it had no value
ten pounds worth in dollars? what is the ‘$30 million from usual company borrow-
equivalent of £10 in dollars? 쐽 noun a ings will either be amortized or written off
value 왍 give me ten pounds’ worth of in one sum’ [Australian Financial Review]
petrol give me as much petrol as £10 will write out phrasal verb to write some-
buy thing in full 쑗 She wrote out the minutes
worthless /w&θləs/ adjective having
worthless
of the meeting from her notes. 왍 to
no value 쑗 The cheque is worthless if it is write out a cheque to write the words
not signed. and figures on a cheque and then sign it
writedown /ratdaυn/ noun a reduc-
writedown
wrap /rp p/, wrap up /rp p/

wrap
verb to cover something all over in paper tion in the recorded value of an asset to
쑗 He wrapped (up) the parcel in green comply with the concept of prudence.
paper. 왍 to gift-wrap a present to wrap a The valuation of stock at the lower of cost
present in attractive paper or net realisable value may require the
wreck /rek/ noun the fact of collapsing,
wreck
values of some stock to be written down.
or a company which has collapsed 쑗 He ‘…the holding company has seen its earn-
managed to save some of his investment ings suffer from big writedowns in con-
from the wreck of the company. 쑗 Inves- junction with its $1 billion loan portfolio’
tors lost thousands of pounds in the wreck
write-off /rat ɒf/ noun 1. the total loss
write-off
of the investment trust. 쐽 verb to damage

something badly or to ruin it 쑗 They are or cancellation of a bad debt, or the re-
trying to salvage the wrecked tanker. 쑗 moval of an asset’s value from a compa-
The negotiations were wrecked by the un- ny’s accounts 쑗 to allow for write-offs in
ions. the yearly accounts 2. something which is
so badly damaged that it cannot be re-
writ /rt əv smənz/, writ of sum-
writ
paired (informal) 쑗 The car was a write-

mons /rt əv smənz/ noun a legal doc-
off.
ument which begins an action in the High
writing /ratŋ/ noun something which
writing
Court 쑗 The court issued a writ to prevent

the trade union from going on strike. 쑗 has been written 쑗 to put the agreement in
The company obtained a writ to prevent writing 쑗 He had difficulty in reading the
the trade union from going on strike. 왍 to candidate’s writing.
written-down value /rt(ə)n daυn
written-down value
serve someone with a writ, to serve a

writ on someone to give someone a writ vlju/ noun a value of an asset in a
officially, so that he or she has to defend it company’s accounts after it has been writ-
write back phrasal verb to give value ten down or recorded at a lower value than
to an asset which has been written down previously
or written off (as when a bad debt is fi- written permission /rt(ə)n pə
written permission
nally paid) mʃ(ə)n/ noun a document which allows

write down phrasal verb to note an as- someone to do something
set at a lower value than previously 쑗
wrongful /rɒŋf(ə)l/ adjective unlawful
wrongful
written down value 쑗 The car is written

wrongful dismissal /rɒŋf(ə)l ds
wrongful dismissal
down in the company’s books. |
write off phrasal verb to cancel a debt, ms(ə)l/ noun the act of removing some-
or to remove an asset from the accounts one from a job for reasons which are
as having no value 쑗 We had to write off wrong
£20,000 in bad debts. 왍 two cars were
WTO
WTO abbr World Trade Organization

XYZ
year planner /jə plnə/ noun a
XBRL year planner
XBRL noun a computer language used

for financial reporting that allows compa- large wall planner covering all the days of
nies to exchange or publish financial in- a whole year
formation through the Internet. Full form year to date /jə tə det/ noun the pe-
year to date
Extensible Business Reporting Lan- riod between the beginning of a calendar

guage or financial year and the present time. A
xd
xd abbr ex dividend variety of financial information, such as a

Xerox /zərɒks/ noun 1. a trade mark company’s profits, losses, or sales, may
Xerox
for a type of photocopier 쑗 to make a xer- be displayed in this way. Abbreviation

ox copy of a letter 쑗 We must order some YTD
more xerox paper for the copier. 쑗 We are yellow goods /jeləυ !υdz/ plural
yellow goods
having a new xerox machine installed to- noun high-priced goods which are kept in
morrow. 2. a photocopy made with a Xer- use for a relatively long time and so are
ox machine 쑗 to send the other party a not replaced very frequently. Compare
xerox of the contract 쑗 We have sent xer- orange goods, red goods
oxes to each of the agents. 쐽 verb to make
Yellow Pages /jeləυ ped$z/ trade-
Yellow Pages
a photocopy with a Xerox machine 쑗 to mark a section of a telephone directory

xerox a document 쑗 she xeroxed all the
printed on yellow paper which lists busi-
file nesses under various headings such as
yard /jɑd/ noun 1. a measure of length
yard
computer shops or newsagents

(= 0.91 metres) (NOTE: Can be written yd
yen /jen/ noun a unit of currency used in
yen
or yds after numbers: 10 yd. Yards are

no longer in official use in the UK) 2. a Japan (NOTE: It is usually written as ¥ be-
fore a figure: ¥2,700 (say two thousand
factory which builds ships 쑗 This yard
seven hundred yen).)
builds mainly fishing boats.
yield /jild/ noun the money produced as
yield
yd
yd abbr yard
a return on an investment, shown as a per-
year /jə/ noun a period of twelve
year
centage of the money invested 쐽 verb to

months produce an amount or percentage as inter-
yearbook /jəbυk/ noun a reference
yearbook
est or dividend, 쑗 government stocks

book which is published each year with which yield a small interest 쑗 shares
updated or new information which yield 10%
year end /jə end/ noun the end of the
year end
‘…if you wish to cut your risks you should

financial year, when a company’s ac- go for shares with yields higher than aver-
counts are prepared 쑗 The accounts de- age’ [Investors Chronicle]
partment has started work on the year- COMMENT: To work out the yield on an in-
end accounts. vestment, take the gross dividend per
annum, multiply it by 100 and divide by
yearly /jəli/ adjective happening once
yearly
the price you paid for it (in pence): an in-

a year 쑗 We make a yearly payment of vestment paying a dividend of 20p per
£1000. 쑗 His yearly insurance premium share and costing £3.00, is yielding
has risen to £250. 쑗 For the past few 6.66%.
yours faithfully /jɔz feθf(ə)li/ ad-
yours faithfully
years she has had a yearly pay rise of

10%. verb used as an ending to a formal busi-
453 zoning regulations

ness letter not addressed to a named per- zero-rated /zərəυ retd/ adjective
zero-rated
son (NOTE: not used in US English) referring to an item which has a VAT rate
Yours sincerely /jɔz snsəli/ ad-
Yours sincerely
| of 0%
verb words used as an ending to a busi- zero-rating /zərəυ retŋ/ noun the
zero-rating
ness letter addressed to a named person rating of a product or service at 0% VAT

Yours truly /jɔz truli/ adverb end-
Yours truly
ZIP code /zp kəυd/ noun US numbers

ZIP code
ing to a formal business letter where you

do not know the person you are writing to in an address that indicate a postal deliv-
ery area (NOTE: The UK term is post-
zero /zərəυ/ noun 1. nought, the
zero
code.)
number 0 쑗 The code for international
zipper clause /zpə klɔz/ noun US a
zipper clause
calls is zero zero (00). 2. same as zero

dividend preference share clause in a contract of employment which
zero-coupon bond /zərəυ kupɒn
zero-coupon bond
prevents any discussion of employment
bɒnd/ noun a bond which carries no in- conditions during the term of the contract
zone /zəυn/ noun an area of a town or
zone
terest, but which is issued at a discount

and so provides a capital gain when it is country for administrative purposes 쐽
redeemed at face value verb to divide a town into different areas
zero dividend preference share
zero dividend preference share
for planning and development purposes 왍
/zərəυ dvdend pref(ə)rəns ʃeəz/ land zoned for light industrial use land
noun a bond which pays no dividend, but where planning permission has been giv-
has a fixed term and a fixed redemption en to build small factories for light indus-
price, which is a little higher than the re- try
zoning regulations /zəυnŋ re!jυ
zoning regulations
demption price on similar gilts though the |
redemption price is not in fact guaranteed. leʃ(ə)ns/ noun local bylaws which reg-
Abbreviation ZDPS. Also called zero ulate the types of building and land use in
zero inflation /zərəυ nfleʃ(ə)n/ a town
zero inflation
noun inflation at 0%
SUPPLEMENTS
International Telephone Codes
Local Times Around the World
International Currencies
Weights and Measures
SWOT Analysis
Sample Business Letters
How to say the Alphabet and Numbers
Using the Telephone
International Telephone Codes
Afghanistan 93 Dominican
Albania 355 Republic 1 809
Algeria 213 Ecuador 593
Andorra 376 Egypt 20
Angola 244 El Salvador 503
Anguilla 1 264 Equatorial Guinea 240
Antigua 1 268 Estonia 372
Argentina 54 Ethiopia 251
Armenia 374 Falkland Islands 500
Australia 61 Fiji 679
Austria 43 Finland 358
Bahamas 1 242 France 33
Bahrain 973 French Guiana 594
Bangladesh 880 Gabon 241
Barbados 1 246 Gambia 220
Belarus 375 Georgia 679
Belgium 32 Germany 49
Belize 501 Ghana 233
Benin 229 Gibraltar 350
Bermuda 1 441 Great Britain 44
Bhutan 975 Greece 30
Bolivia 591 Grenada 1 473
Bosnia 387 Guatemala 502
Botswana 267 Guinea 224
Brazil 55 Guinea-Bissau 245
Brunei 673 Guyana 592
Bulgaria 359 Haiti 509
Burkina Faso 226 Honduras 504
Burma (see Myanmar) Hong Kong 852
Burundi 257 Hungary 36
Cambodia 855 Iceland 354
Cameroon 237 India 91
Canada 1 Indonesia 62
Cape Verde Islands 238 Iran 98
Cayman Islands 1 345 Iraq 964
Central African Irish Republic 353
Republic 236 Israel 972
Chad 235 Italy 39
Chile 56 Ivory Coast 225
China 86 Jamaica 1 876
Colombia 57 Japan 81
Comoros 269 Jordan 962
Congo 242 Kazakhstan 7
(Republic of the) Kenya 254
Congo 243 Kuwait 965
(Democratic Republic of the) Kyrgyzstan 996
Costa Rica 506 Laos 856
Croatia 385 Latvia 371
Cuba 53 Lebanon 961
Cyprus 357 Lesotho 266
Czech Republic 420 Liberia 231
Denmark 45 Libya 218
Djibouti 253 Liechtenstein 423
Dominica 1 767 Lithuania 370
International Telephone Codes continued
Luxembourg 352 St Lucia 1 758
Macao 853 St Vincent 1 784
Macedonia 389 Samoa 378
(Former Yugoslav Republic of) Saudi Arabia 966
Madagascar 261 Senegal 221
Madeira 351 Seychelles 248
Malawi 265 Sierra Leone 232
Malaysia 60 Singapore 65
Maldives 960 Slovakia 42
Mali 223 Slovenia 386
Malta 356 Somalia 252
Mauritania 222 South Africa 27
Mauritius 230 South Korea 82
Mexico 52 Spain 34
Moldova 373 Sri Lanka 94
Monaco 377 Sudan 249
Mongolia 976 Suriname 597
Montserrat 1 664 Swaziland 268
Morocco 212 Sweden 46
Mozambique 258 Switzerland 41
Myanmar 95 Syria 963
Namibia 264 Taiwan 886
Nauru 674 Tanzania 255
Nepal 977 Thailand 66
Netherlands 31 Togo 228
New Zealand 64 Tonga 676
Nicaragua 505 Trinidad & Tobago 1 868
Niger 227 Tunisia 216
Nigeria 234 Turkey 90
North Korea 850 Turkmenistan 993
Norway 47 Tuvalu 688
Oman 968 Uganda 256
Pakistan 92 Ukraine 380
Panama 507 United Arab
Papua New Guinea 675 Emirates 971
Paraguay 595 United Kingdom 44
Peru 51 USA 1
Philippines 63 Uruguay 598
Poland 48 Uzbekistan 998
Portugal 351 Vanuatu 678
Puerto Rico 1 787 Venezuela 58
Qatar 974 Vietnam 84
Réunion 262 Yemen 967
Romania 40 Yugoslavia 381
Russia 7 Zambia 260
Rwanda 250 Zimbabwe 263
Local Times Around the World
London time 1200 London time 1200

Abu Dhabi 1600 Lisbon 1200
Adelaide 2130 Luanda 1300
Algiers 1300 Luxembourg 1300
Amsterdam 1300 Madagascar 1500
Ankara 1400 Madrid 1300
Astana 1800 Malé 1700
Athens 1400 Malta 1300
Baghdad 1500 Manila 2000
Bangkok 1900 Mexico 0600
Beijing 2000 Minsk 1400
Beirut 1400 Montevideo 0900
Berlin 1300 Montreal 0700
Bern(e) 1300 Moscow 1500
Bogota 0700 Nairobi 1500
Bombay 1730 Nassau 0700
Brasilia 0900 New York 0700
Brazzaville 1300 Oslo 1300
Brussels 1300 Ottawa 0700
Bucharest 1400 Panama 0700
Budapest 1300 Paris 1300
Buenos Aires 0900 Perth 2000
Cairo 1400 Phnom Penh 1900
Calcutta (Kolkata) 1730 Prague 1300
Canberra 2200 Pretoria 1400
Cape Town 1400 Pyongyang 2100
Caracas 0800 Quebec 0700
Chicago 0600 Rangoon 1830
Colombo 1730 Reykjavik 1200
Copenhagen 1300 Rio de Janeiro 0900
Costa Rica 0600 Riyadh 1500
Damascus 1400 Rome 1300
Delhi 1730 San Francisco 0400
Dhaka 1800 Santiago 0800
Dublin 1200 Seoul 2100
Gibraltar 1300 Seychelles 1600
Hanoi 1900 Singapore 2000
Harare 1400 Stockholm 1300
Helsinki 1400 Sydney 2200
Hong Kong 2000 Taipei 2000
Honolulu 0200 Tallinn 1400
Istanbul 1400 Tbilisi 1600
Jakarta 1900 Tehran 1530
Jerusalem 1400 Tirana 1300
Kabul 1630 Tokyo 2100
Karachi 1700 Toronto 0700
Khartoum 1400 Tripoli 1300
Kiev 1400 Tunis 1300
Kinshasa 1400 Ulan Bator 2000
Kuala Lumpur 2000 Vienna 1300
Kuwait 1500 Warsaw 1300
Lagos 1300 Washington, DC 0700
La Paz 0800 Wellington 0000 (+1 day)
Lima 0700 Yaoundé 1300
International Currency
In the following list, units of currency marked (*) usually have no plural: e.g. 1 kyat (one kyat),
200 kyat (two hundred kyat), etc.
Country Currency Divided into Abbreviation
Afghanistan Afghani* puli Af or Afs
Albania Lek* qindars Lk
Algeria Algerian dinar centimes DA
Andorra Euro cents €
Angola Kwanza* lwei Kzrl
Antigua East Caribbean dollar cents Ecar$ or EC$
Argentina Argentinian peso australes
Australia Australian dollar cents A$
Austria Euro cents €
Bahamas Bahamian dollar cents B$
Bahrain Bahraini dinar fils BD
Bangladesh Taka* poisha Tk
Barbados Barbados dollar cents Bd$ or BD$
Belarus Rouble kopeks
Belgium Euro cents €
Belize Belize dollar cents BZ$
Benin CFA franc centimes CFA Fr
Bermuda Bermuda dollar cents Bda$
Bhutan Ngultrum* chetrum N
Bolivia Boliviano or Bolivian peso centavos $b
Bosnia Marka para
Botswana Pula thebe P
Brazil Real centavos R$
Brunei Brunei dollar sen B$
Bulgaria Lev* stotinki Lv
Burkina Faso CFA franc centimes CFA Fr
Burma (see Myanmar)
Burundi Burundi franc centimes Bur Fr or FrBr
Cambodia Riel* sen RI
Cameroon CFA franc centimes CFA Fr
Canada Canadian dollar cents Can$ or C$
Cape Verde Islands Escudo Caboverdiano centavos CV esc
Cayman Islands Cayman Island dollar cents CayI$
Central African Republic CFA franc centimes CFA Fr
Chad CFA franc centimes CFA Fr
Chile Chilean peso centavos Ch$
China Yuan* or renminbi* fen Y
Colombia Colombian peso centavos Col$
Comoros CFA franc centimes CFA Fr
Congo (Republic of) CFA franc centimes CFA Fr
Congo (Democratic
Republic of) Congolese franc centimes
Costa Rica Colón* centimos C/
Croatia Kuna lipas
Cuba Cuban peso centavos Cub$
Cyprus Cyprus pound cents £C or C£
Czech Republic Koruna haleru K¢
International Currency continued
Dahomey (see Benin)
Denmark Krone öre DKr or DKK
Djibouti Djibouti franc centimes Dj Fr
Dominica East Caribbean dollar cents EC$
Dominican Republic Dominican peso centavos DR$
Ecuador Sucre* centavos Su
Egypt Egyptian pound piastres £E or E£
Eire (see Irish Republic)
El Salvador Colón* centavos ES¢
Equatorial Guinea CFA franc centimes CFA Fr
Estonia Kroon sents
Ethiopia Birr* or Ethiopian dollar cents EB
Fiji Fiji dollar cents $F or F$
Finland Euro cents €
France Euro cents €
French Guiana Euro cents €
Gabon CFA franc centimes CFA Fr
Gambia, The Dalasi* butut Di
Germany Euro cents €
Ghana Cedi* pesewas ¢
Georgia Lari tetri
Great Britain (see United Kingdom)
Greece Euro cents €
Grenada East Caribbean dollar cents Ecar$ or EC$
Guatemala Quetzal centavos Q
Guinea Guinea franc centimes
Guinea-Bissau CFA franc centimes CFA Fr
Guyana Guyana dollar cents G$ or Guy$
Haiti Gourde* centimes Gde
Holland (see Netherlands)
Honduras Lempira* centavos La
Hong Kong Hong Kong dollar cents HK$
Hungary Forint filler Ft
Iceland Króna aurar Ikr
India Rupee paisa R or Re or R$
Indonesia Rupiah* sen representative
Iran Rial* dinars RI
Iraq Iraqi dinar fils ID
Irish Republic Euro cents €
Israel Shekel agora IS
Italy Euro cents €
Ivory Coast CFA franc centimes CFA Fr
Jamaica Jamaican dollar cents J$
Japan Yen* sen Y or ¥
Jordan Jordanian dinar fils JD
Kazakhstan Tenge
Kenya Kenya shilling cents KSh or Sh
Korea (North) North Korean won* chon NK W
Korea (South) South Korean won* jeon SK W
Kuwait Kuwaiti dinar fils KD
Kyrgystan Som tyin
Laos Kip* at K or Kp
Latvia Lat santims
Lebanon Lebanese pound piastres £Leb or L£
Lesotho Loti* lisente L
Liberia Liberian dollar cents L$
Libya Libyan dinar dirhams LD
Liechtenstein Swiss franc centimes SFr or FS
Lithuania Lita
Luxembourg Euro cents €
Macedonia Dinar paras
Macau Pataca* avos P or $
Madeira Euro cents €
Malagasy Republic Malagasy franc centimes FMG or Mal Fr
Malawi Kwacha* tambala K or MK
Malaysia Ringgit or
Malaysian Dollar sen M$
Maldives Rufiyaa laaris MvRe
Mali CFA franc cents CFA Fr
Malta Maltese pound or lira cents £M or M£
Mauritania Ouguiya* khoums U
Mauritius Mauritius rupee cents Mau Rs or R
Mexico Peso centavos Mex$
Moldova Leu
Monaco Euro cents €
Mongolian Republic Tugrik* möngös Tug
Montserrat East Caribbean dollar cents Ecar$ or EC$
Morocco Dirham centimes DH
Mozambique Metical* centavos M
Myanmar Kyat* pyas Kt
Namibia Namibian dollar cents
Nauru Australian dollar cents A$
Nepal Nepalese rupee paise NR or Nre
Netherlands Euro cents €
New Hebrides (see Vanuatu)
New Zealand New Zealand dollar cents NZ$
Nicaragua Córdoba centavos C$ or C
Niger CFA franc centimes CFA Fr
Nigeria Naira* kobo N or N
Norway Krone ore NKr
Oman Rial Omani baizas RO
Pakistan Pakistan rupee paise R or Pak Re
Panama Balboa centesimos Ba
Papua New Guinea Kina* toea Ka or K
Paraguay Guarani* centimos G
Peru Sol cents S
Philippines Philippine peso centavos P or PP
Poland Zloty groszy Zl
Portugal Euro cents €
Puerto Rico US dollar cents $ or US$
Qatar Qatar Riyal dirhams QR
Reunion CFA franc centimes CFA Fr
Romania Leu* bani L or l
Russia Rouble kopeks Rub
Rwanda Rwanda franc centimes Rw Fr
St Lucia East Caribbean dollar cents Ecar$ or EC$
St Vincent East Caribbean dollar cents Ecar$ or EC$
Samoa Tala sene
Saudi Arabia Saudi riyal or rial halala SA R
Senegal CFA franc centimes CFA Fr
Seychelles Seychelles rupee cents Sre or R
Sierra Leone Leone cents Le
Singapore Singapore dollar cents S$ or Sing$
Slovakia Koruna haliers Sk
Slovenia Tolar stotin SIT
Solomon Islands Solomon Island dollar cents SI$
Somalia Somali shilling cents Som Sh or So Sh
South Africa Rand* cents R
Spain Euro cents €
Sri Lanka Sri Lankan rupee cents SC Re
Sudan Sudanese dinar pounds SD
Suriname Suriname guilder cents S Gld
Swaziland Lilangeni* cents Li or E
Sweden Krona örer SKr
Syria Syrian pound piastres S£
Taiwan New Taiwan dollar cents T$ or NT$
Tanzania Tanzanian shilling cents TSh
Thailand Baht* satang Bt
Togo CFA franc centimes CFA Fr
Tonga Pa’anga seniti
Trinidad & Tobago Trinidad & Tobago dollar cents TT$
Tunisia Tunisian dinar millimes TD
Turkey Turkish lira kurus TL
Turkmenistan Manat tenesi
Tuvalu Australian dollar cents $A
Uganda Uganda Shilling cents Ush
Ukraine Hryvna kopiykas
United Arab Emirates UAE dirham fils UAE Dh or UD
United Kingdom Pound sterling pence £ or £Stg
USA Dollar cents $ or US$
Uruguay Uruguayan peso centesimos N$
Uzbekistan Sum tiyin
Vanuatu Vatu centimes
Venezuela Bolívar centimos BS
Vietnam Dong* xu D
Virgin Islands US dollar cents US$
Yemen Riyal fils YR
Yugoslavia Dinar paras DN
Zambia Kwacha* ngwee K
Zimbabwe Zimbabwe dollar cents Z$
Weights and Measures
Metric Measures
Length
1 millimetre (mm) = 0.0394 in
1 centimetre (cm) = 10 mm = 0.3937 in
1 metre (m) = 100 cm = 1.0936 yds
1 kilometre (km) = 1000 m = 0.6214 mile
Weight
1 milligram (mg) = 0.0154 grain
1 gram (g) = 1000 mg = 0.0353 oz
1 kilogram (kg) = 1000 g = 2.2046 lb
1 tonne (t) = 1000 kg = 0.9842 ton
Area
1 cm 2
= l00 mm 2
= 0.1550 sq. in.
1m 2
= l0,000 cm 2
= 1.1960 sq. yds
1 are (a) = 100 m 2
= 119.60 sq. yds
1 hectare (ha) = 100 ares = 2.4711 acres
1 kilometer (km) = 100 hectares = 0.3861 sq. mile
Capacity
1 cm = 0.0610 cu. in
1 dm 3
= 1000 cm 3
= 0.0351 cu. ft
1m 3
= 1000 dm 3
= 1.3080 cu. yds
1 litre = 1 dm 3
= 0.2200 gallon
1 hectolitre = 100 litres = 2.7497 bushels
Imperial Measures
Length
1 inch = 2.54 cm
1 foot = 12 inches = 0.3048 m
1 yard = 3 feet = 0.9144 m
1 rod = 5.5 yards = 4.0292 m
1 chain = 22 yards = 20.117 m
1 furlong = 220 yards = 201.17 m
1 mile = 1760 yards = 1.6093 km
Weight
1 ounce (oz) = 437.6 grains = 28.350 g
1 pound (lb) = 16 ounces = 0.4536 kg
1 stone = 14 pounds = 6.3503 kg
1 hundredweight = 112 pounds = 50.802 kg
1 ton = 20 cwt = 1.0161 tonnes
Area
2
1 sq. inch = 6.4516 cm
2
1 sq. foot = 144 sq. ins = 0.0929 m
2
1 sq. yard = 9 sq. ft = 0.8361 m
2
1 acre = 4840 sq. yds = 4046.9 m
1 sq. mile = 640 acres = 259.0 hectares
Capacity
3
1 cu. inch = 16.387 cm
1 cu. foot = 1728 cu. ins = 0.0283 m3
3
1 cu. yard = 27 cu. ft = 0.7646 m
1 pint = 4 gills = 0.5683 litre
1 quart = 2 pints = 1.1365 litres
1 gallon = 8 pints = 4.5461 litres
1 bushel = 8 gallons = 36.369 litres
3
1 fluid ounce (fl. oz) = 8 fl. drachms = 28.413 cm
3
1 pint = 20 fl. oz = 568.26 cm
SWOT Analysis
Organisation
Strengths Weaknesses
The services, products or The services, products or

skills which the skills which the
organisation is good at organisation can’t do or
doing or making doesn’t do well
Market
Opportunities Threats
Segments of the market Segments of the market

which are attractive, and or changes taking place
where changes in the in the market which make
market might work in it difficult for the organi-
favour of the organisation sation to work there
Sample Business Letters
Smith & Bell Ltd

123 St James Street
BIRMINGHAM
B1 2HE
15th April 2004
Dear Sirs,
We would be grateful if you could send us a copy of your current catalogue and
price list.
Yours faithfully,
........................................
Pamela Williams
Purchasing Manager
******************
Ms P. Williams
Purchasing Manager
Black & White Ltd
12 Waterloo Street
Norwich NH2 4QX
Our ref: 1234 25th April 2004
Dear Ms Williams,
Thank you for your letter of 15th April. Please find enclosed this year's catalogue
and our current price list. Please let me know if there is any further information you
need.
Yours sincerely,
.........................
Philip Stevens
Smith & Bell Ltd
Encl.
Sample Business Letters continued
Smith & Bell Ltd

123 St James Street
BIRMINGHAM
B1 2HE
20th May 2004
Dear Sirs,
Order Number: PW/5678/5/01
From your current catalogue, please supply the following items:

20 x 8765/WB
10 x 6543/QA
2 x 3210/ZP
Please deliver with an invoice in triplicate to the following address:
Black & White Ltd
24 Blenheim Street
Norwich NH25 2PZ
Yours faithfully
........................................
Pamela Williams
Purchasing Manager
******************
Ms P. Williams
Purchasing Manager
Black & White Ltd
12 Waterloo Street
Norwich NH2 4QX
Our ref: 1456 27th May 2004
Dear Ms Williams,
Order Number: PW/5678/5/01
Thank you for your order. We are able to supply all the items listed immediately,
with the exception of 6543/QA which is currently out of stock. We expect new stock
to be delivered within the next two weeks, and that part of your order will be
supplied as soon as stock is in our warehouse.
Yours sincerely,
.........................
Philip Stevens
Smith & Bell Ltd
Sample Business Letters continued
Smith & Bell Ltd

123 St James Street
BIRMINGHAM
B1 2HE
20th June 2004
Dear Sirs,
Invoice SB/1097
Our Order Number: PW/5678/5/01
We have received the items ordered, but one box of 8765/WB was badly damaged
when delivered and some of the contents are unusable. We should be grateful if you
could replace it as soon as possible.
Yours faithfully
........................................
Pamela Williams
Purchasing Manager
******************
Black & White Ltd

12 Waterloo Street
Norwich NH2 4QX
Attn: Ms P. Williams
Purchasing Manager
1st September 2004
Dear Ms Williams,
Invoice SB/1097
We note that this invoice has not been paid and would be grateful if you could settle
it within seven days.
Yours sincerely,
.........................
Accounts Dept
Smith & Bell Ltd
How to say ...
The Alphabet
A /e/ N /en/
B /bi/ O /əυ/
C /si/ P /pi/
D /di/ Q /kju/
E /i/ R /ɑ/
F /ef/ S /es/
G /di/ T /ti/
H /etʃ/ U /ju/
I /a/ V /vi/
J /de/ W /db(ə)lju/
K /ke/ X /eks/
L /el/ Y /wa/
M /em/ Z /zed/, (US) /zi/
Numbers
1, 2, 3, 4 one, two, three, four
I,II, III, IV
1st, 2nd, 3rd, 4th first, second, third, fourth
5, 6, 7, 8 five, six, seven, eight
V VI, VII, VIII
5th, 6th, 7th, 8th fifth, sixth, seventh, eighth
9, 10, 11, 12 nine, ten, eleven, twelve
IX, X, XI, XII
9th, 10th 11th, 12th ninth, tenth, eleventh, twelfth
13, 14, 15, 16 thirteen, fourteen, fifteen, sixteen
XIII, XIV, XV, XVI
13th, 14th,15th, 16th thirtheenth, fourteenth, fifteenth, sixteenth
17, 18, 19, 20 seventeen, eighteen, nineteen, twenty
XVII, XVIII, XIX, XX
17th, 18th,19th, 20th seventeenth, eighteenth, nineteenth, twentieth
21, 22, 23 twenty-one, twenty-two, twenty-three
XX1, XXII, XXIII
21st, 22nd, 23rd twenty-first, twenty-second, twenty-third
30, 31, 32 thirty, thirty-one, thirty-two
XXX, XXX1, XXXII
40, 50, 60, 70, 80, 90 forty, fifty, sixty, seventy, eighty, ninety
XL, L, LX, LXX, LXXX, XC
40th, 50th, 60th, 70th, 80th, 90th fortieth, fiftieth, sixtieth, seventieth, eightieth, ninetieth
100,101 one hundred, a hundred; one hundred and one,
C, CI a hundred and one
200, 300, 400, 500 two hundred, three hundred, four hundred, five hundred
CC, CCC, CCCC, D
1,000 one thousand, a thousand
M
10,000 ten thousand
1,000,000 one million, a million
1,000,000,000 one billion, a billion
How to say ...
Decimals
0.5 zero point five, point five
0.25 zero point two five, point two five
2.5 two point five
Money
£1 one pound, a pound
30p thirty pence, thirty pee
£1.25 one pound twenty-five (pee), one twenty-five
£27.36 twenty-seven pounds thirty-six (pee)
$1 one dollar, a dollar
10¢ ten cents, or (US) a dime
25¢ twenty-five cents, or (US) a quarter
$1.25 one dollar twenty-five, a dollar twenty-five, one twenty-five
Telephone numbers
020 7921 3567 oh-two-oh, seven-nine-two-one, three-five-six-seven
Years
1905 nineteen oh five, nineteen hundred and five
1998 nineteen ninety-eight
the 1900s, the 1900’s the nineteen hundreds
2000 two thousand, the year two thousand
2005 two thousand and five
Dates
2.1.98 or 2/1/98 the second of January, nineteen ninety eight, or (US) February
first, nineteen ninety eight (NOTE: European and British dates
are written with the day before the month, American dates are
written with the month before the day.)
Some words with numbers
999, (US) 911, (Australia) 000 nine nine nine, (US) nine one one, (Australia) triple oh
(NOTE: the number to phone in an emergency)
24/7 twenty-four seven (NOTE: means ‘all the time’)
9/11 nine eleven (NOTE: the eleventh of September 2001, when
many people died in a terrorist attack in New York)
the big 40, 50, etc. the big four oh, five oh, etc. (NOTE: used humorously to
refer to a fortieth or fiftieth, etc. birthday)
A1 /ei wn/ (NOTE: means ‘excellent’)
A1, A12, B125, etc. /ei wn/, /ei 'twelv/, /bi wn tu faiv/, etc. (NOTE: the
numbering system for roads in Great Britain)
4x4 four by four (NOTE: a vehicle with four-wheel drive)
4WD four-wheel drive (NOTE: a system in which engine power
drives all four wheels of a vehicle, or a vehicle with this
system)
H 2O /eitʃtuəυ/ (NOTE: The chemical formula is sometimes
used to say ‘water’.)
M1, M25, etc. /em wn/, /em twenti fav/, etc. (NOTE: the numbering
system for motorways in Great Britain)
Numbers are sometimes used as abbreviations in e-mails, text messages or adverts.
2day today CUL8R see you later L8R later
4U for you F2F face to face M8 mate
B4 before GR8 great P2P person to person

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DICTIONARY OF

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A & C Black 폷 London

Originally published by Peter Collin Publishing

First published 1985

A & C Black Publishers Ltd

All rights reserved. No part of this publication may

Text production and proofreading

A & C Black uses paper produced with elemental chlorine-free pulp,

Text processing and computer typesetting by A & C Black

It is designed for anyone who needs to check the meaning or pronunciation of

Pronunciations, irregular plurals and verb forms, constructions used with

Stress is indicated by a main stress mark ( ) and a secondary stress mark ( ) .

or not continue doing something 쑗 We above-the-line advertising /əbv

abandoned the idea of setting up a New ðə lan  dvətazŋ/ noun advertising

abroad /əbrɔd/ adverb to or in another

an act of giving up voluntarily something |

absence / bsəns/ noun the fact of not

the Registrar of Companies, instead of a

who is absent or an employee who stays ation and Arbitration Service

tally changed conditions on the shop floor: |

absolute / bsəlut/ adjective com-

to absorb overheads to include a propor- |

absorption rate /əbzɔpʃən ret/

noun a rate at which overhead costs are |

of a report or document 쑗 to make an ab- sɑmplŋ/ noun the process of testing a

tat(ə)l/ noun a summary of the details accepting house /əkseptŋ haυs/

count, in return for immediate payment to

septŋ haυzz kəmti/ noun the main |

to something to be able to obtain or reach the money in your current account. 쑗 I am

puter. agreement with what has been decided 쑗

| We have received your letter and have al-

thing unpleasant which can be caused by shown by someone

ʃυərəns/ noun insurance which will pay view]

the insured person when an accident takes |

place financial transactions over a period of

noun 1. money lent for a short time 2. 왍

a period of time, almost always one calen- end of an accounting period

has made a profit or loss (the balance | |

have taken place since the last balance |

sheet) 6. 왍 overdrawn account an ac- work of recording money paid, received,

the account 쑗 We closed our account with |

(NOTE: On the London Stock Exchange, records of a company’s financial affairs

specific percentage of inflation when accounts manager |

making calculations 쐽 verb 왍 to account m nd$ə/ noun the manager of an ac-

action 쑗 to account for a loss or a dis- |

accountable /əkaυntəb(ə)l/ adjec- people who work in the accounts depart-

tive referring to a person who has to ex- ment

accountancy /əkaυntənsi/ noun the

| ferring to an agent who is appointed by a

nancial transaction in accounts when it We achieved all our objectives in 2001.

accrued dividend /əkrud dv

last dividend was paid |

accrued interest /əkrud ntrəst/

accrued liabilities /əkrud laə

ed in an accounting period, although pay- |

acct abbr account edged my letter of the 24th. 쑗 We ac-

| | cheques have this printed on them)

unit trust, which produces dividends quire a company 쑗 We have acquired a

dividends which the investor receives as company which buys something

accurate / kjυrət/ adjective correct

something bought 쑗 The chocolate facto-

or not continue doing something 쑗 We above-the-line advertising /əbv

abandoned the idea of setting up a New ðə lan dvətazŋ/ noun advertising

abroad /əbrɔd/ adverb to or in another

absence /bsəns/ noun the fact of not

absolute /bsəlut/ adjective com-

absorption rate /əbzɔpʃən ret/

of a report or document 쑗 to make an ab- sɑmplŋ/ noun the process of testing a

tat(ə)l/ noun a summary of the details accepting house /əkseptŋ haυs/

septŋ haυzz kəmti/ noun the main |

ʃυərəns/ noun insurance which will pay view]

making calculations 쐽 verb 왍 to account mnd$ə/ noun the manager of an ac-

accountable /əkaυntəb(ə)l/ adjec- people who work in the accounts depart-

accountancy /əkaυntənsi/ noun the

accrued dividend /əkrud dv

accrued interest /əkrud ntrəst/

accrued liabilities /əkrud laə

accurate /kjυrət/ adjective correct

action /kʃən/ noun 1. a thing which

adjourn /əd$&n/ verb to stop a meet-

to be paid. d$udkeʃ(ə)n əv bŋkrptsi/ noun

er extra items in an existing insurance keʃ(ə)n ɔdə/ noun an order by a court

located or a person lives 쑗 My business keʃ(ə)n trabjun(ə)l/ noun a group

administer /ədmnstə/ verb to or-

administered price /ədmnstəd

streʃ(ə)n kɒsts/, administration ex- advance on account. 쑗 Can I have an ad-

v&tsmənt hɔdŋ/ noun a large board

cludes such things as computer-aided v&tsmənt pn(ə)l/ noun a specially

bd$t/ noun money planned for spend- adviser.

kmpen/ noun a co-ordinated publicity Advisory, Conciliation and Arbi-

advertising jingle /dvətazŋ

advisory board /ədvaz(ə)ri bɔd/

mnd$ə/ noun the manager in charge |