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Glossary of Business Terms

Glossary

Business Terms

Certificate II in Information Technology

ICA 20199

A

Absenteeism - the term used to describe employees not showing up for work

Accounting - keeping of, or examining accounts

Add-ons - increasing or supplementing items

Adjoining - next to, or nearest to

Advertising mediums - forms of providing information to people to encourage purchases, or use.

Aerosols - substances sealed in containers under pressure, with devices for releasing it as a

fine spray

Ageist - relating to a person’s age.

Apparent - clearly seen or understood, obvious

Apprehension - a feeling of fear about a possible danger or difficulty

Approach - to come near, set about doing, go with a request or offer

Attentive - paying attention, watchful / showing consideration or courtesy

Attributes - to regard as belonging to or caused by / qualities that are characteristic of a person or

thing

B

Back Ordered - product placed on order that is unavailable for immediate delivery to be delivered

at a later date

Behavioural - the ways of behaving, treatments of others, manners

Benefits - things that are helpful, favourable, or profitable

Brainstorming - a spontaneous discussion in search of new ideas

Breach - breaking a rule or an agreement.

Buying signals -ways of expressing intentions to purchase

C

Calculations - finding out by using mathematics, counting

Card Issuers - suppliers of credit cards / cash cards

Cashflow - the movement of money out of and into a business as goods are bought and sold

Categories - classes of things

Cliques - small or exclusive groups

Coherency - logical connections, speeches not rambling or unreasonable

Collate - collect and arrange systematically

Colloquialisms - ordinary conversations not suitable for formal speeches or writings

Communication - letter or message that passes information from one person to another

Competencies - skills and knowledge required to perform a job or tasks

Competition - those competing with oneself or with store

Compilations - collections and arrangements of information into a list or book

Complaints - a statement saying that one is

dissatisfied, a protest

Complaisant - willing to do what pleases others

Comprehending - to be grasping mentally,

understanding

Concealment - to keep in secret, or hidden

Conceptual - based on mental ideas or concepts

Confidence / confident - feeling of certainty, self reliance, boldness

Configuration - a method of arrangement

Confrontation - being or coming face to face with, facing boldly as an enemy or defiance

Conscience - a person’s sense of what is right and wrong

Consignment - goods handed over or given into someone’s care

Contradict - to state that what is said is untrue / state the opposite of

Contingency - anticipating that something may happen at a later date

Contentious - quarrelsome, likely to cause contention

Credit - a system of doing business by trusting that a person will pay at a later date for goods or

services supplied

Credit claims - requests for credit or refund on products or services not supplied or unacceptable

Credit Rating - an estimate of a person’s suitability for credit or a loan

Criteria - standards of judgment, expectations

Cross Reference - a note directing people to another part of a book or index for further

information

D

Data - facts or pieces of information stored and assembled at a later time to create information on

which decisions can be made or documents produced.

Data Records - records or electronic information stored in a database

Database - a structured store of computerised data, usually comprising of a number or files such

as customer lists

Database Fields - sections or areas in an input screen where certain information is inserted and

later viewed within a database.

Debit - an entry in an account book of a sum owed by the holder /debt record

Dedication - devotion of one’s time, energy, and loyalty to a special purpose

Delegate - to appoint or entrust a task, power or responsibility to someone

Dictatorship - a domineering management or

staff

Disseminate - to spread widely eg; ideas

Deception - deceiving, being deceived by someone or something

Decision maker - person who decides or makes a reasoned judgment

Dedication—to be dedicated, to perform to the successful end.

Defensive - used or done for defense, protective

Demographics—a study of people and populations such as income levels, education, lifestyle.

Despatch - to send off to a destination or for a purpose

Deterrent - a thing that deters, an attempt to stop.

Diagnose - to make a diagnoses, to find the cause.

Dialog - a conversation or discussion

Diffusing - spreading widely or thinly throughout something / or mix to become intermingled

Dominance - having a commanding or influence presence over someone

Doodling - scribbling while thinking about something else

Drafting / draft - making a rough preliminary written version

 

 

E

Effectiveness - measure of amount of productiveness, efficiency

Ergonomics - study of work and its environment and conditions in order to achieve maximum efficiency

Emotion - an intense mental feeling eg; love or hate

Empathetic - being able to mentally identify with or comprehending a person or object of

contemplation

Enterprise - a business or commercial entity developed to generate revenue and profits

Entitlements - rights that are due a person

Environment - the surroundings, conditions, and circumstances in which a person lives

Etiquette - the rules of correct behavior in society or among the members of a profession

 

 

F

Facilitate - to make easy, to lessen the difficulty of

Facsimiles - electrical reproductions of documents transmitted by machines over phone

lines

Factual - based on or concerning facts

Features - distinctive or noticeable qualities of a thing

Feedback - the return of information about a product etc; to its supplier

Fluent - able to speak smoothly and readily

Focal - of or a focus

 

 

G

Geometric - the shape of the displays including the lines, angles and shape

Gestures - an expressive movement of any part of the body

Guillotine - a machine with a long blade or sharpened wheel for cutting paper or metal

Goodwill - the established custom or popularity of a business, considered as an asset that can be

sold

Grammar - study of words and of their rules for their formation and relationship to each other

Grid - network of squares on maps, numbered or reference, straight line of rows in a display

layout

Grooming - state of being near and trim eg; personal care of dress, hair, hygiene

 

 

H

Hardcopy - material produced in printed form by a computer or from a microfilm etc

Harassment - troubling and annoying continually

Hazardous / hazards - risky / danger, risk, a source of this

Housekeeping - management of household affairs

Hygiene - the practice of cleanliness in order to maintain health and prevent disease

 

 

I

Image - the general impression of a person, store, business or product etc. as perceived by

the public

Imparting - revealing or making known eg; information

Impromptu - without preparation or rehearsal

Impulse - a sudden inclination to act, without thought for the consequences

Impulsively - acting out an action without due thought, on impulse

Incidents - events, especially minor ones, pieces of hostile activities, or public disturbances or

accidents

Indirect - not direct

Individual - single, separate, of or for one person, characteristic of one particular person or

thing

Information Systems - software programs developed to create file and manage data/

electronic information

Informative - giving information

Initiative - the first step in a process, power or right to begin something, the ability to initiate

things

 

 

Innuendoes - unpleasant insinuations

In season - relate to the season it which the product is offered such as summer wear, or winter

clothing.

Insensitive - non sensitive

Intellectual - having a well-developed intellect and a taste for advanced knowledge

Interaction - having an effect upon each other

Interpersonal - dealing, actions discussions between persons

Interpreter - a person whose job is to translate a speech etc. into another language orally, in the

presence of the speaker

Interpreting / interpretation - explaining the meaning of , understanding in a specific way /

acting as an interpreter

Intimated - make known, especially by hinting

Inventory - a detailed list of goods or furniture etc., to make an inventory of; to enter in an

inventory

Investment / Invest - to use (money) to buy stocks, shares, or property etc. in order to earn

interest or bring profit for the buyer / to spend money, time, or effort on something that will be

useful

 

 

Invoice - a list of goods sent or services performed, with prices and charges / to make an

invoice (of goods) / to send an invoice to (a person)

 

 

J

Jargon - words or expressions developed for use within a particular group, hard for outsiders to

understand and sounding ugly

Judiciary - the whole body of judges in a country

Justifiable - able to be justified

 

 

K

Knowledge - knowing / all that a person knows /

all that is known, an organised body of

information

 

 

L

Laborious - needing much effort or perseverance / showing signs of great effort, not

spontaneous, forced / hard-working

Lateral / laterally - of, at, or towards the side (s) focused sideways

Lay-by - a system of reserving an article in a shop by paying a deposit and installments

Lead-time—time it takes to satisfy or delivery an order from date of order to actual delivery.

Legislation - legislating / the laws themselves

Liability - being liable / a handicap, a disadvantage

Lip Reading - understanding what a person is saying by watching the movements of his or her

lips, not by hearing

Lobby - seeking to influence legislation, to influence a body or group.

Logic - chain of reasoning regarded as good or

bad

Loss Prevention—to prevent the loss of stock, money or merchandise from theft or damage.

 

 

M

Maintenance - keeping equipment etc., in repair

Mannequin - a dressmaker’s or window dummy

Mannerisms - distinctive personal habits or ways of doing something

Maximising - effort to increase to the greatest possible number, amount or intensity

Mechanics - the processes by which something is done or functions

Memorandum - an informal written

communication from one person to another in an organisation

Memorise - to learn (anything) so as to know it from memory

Mentor - a respected person which another looks to for advise or assistance in time of need

Minder - one whose job is to attend to or take care of a person or thing

Mirror - to reflect the same qualities as the original

Misrepresentation - represented in a false or misleading way

Motivations - motives or incentives / stimulations or inspiration

Multi-tasking - skilled and able to perform numerous tasks simultaneously

 

 

N

Numerical - number or series of numbers

 

 

O

Objections - feelings of disapproval or opposition; statements of this / reasons for

objecting

Objectively - looking at an issue in the way of not being influenced by personal feelings or opinions

Observation - observing; be observed / a comment or remark

Obvious - easy to see or recognise or to understand

On hand - having available, in stock

Originating - beginning, giving origin to

Outsourcing - to give tasks, services or supplies to an outside provider instead of producing or performing the tasks, services etc. within the company.

Overseen - supervised / work or workers

 

 

P

PABX - a commercial telephone system consisting of numerous incoming lines and internal extensions

Paraphrasing - expressing the meaning of (a passage) in other wards rewording

Participant / Participating / Participation - having a share, taking a part in something

Password - a secret word, phrase, or set of characters, used as a code to gain admission,

access

Patronising - condescending, to belittle

Payment terms - terms or arrangement to make payments or money in return for goods or

services

Pedantic - person who insists unimaginatively on strict observance of formal rules and details in the presentation of knowledge

Performance - a notable action or achievement

Peripheral - hardware or devices controlled by a

central computer

Pertinent - pertaining, relevant

Pictorial - of or expressed in a picture or pictures / illustrated by pictures / picturesque

PIN - personal identification number

Pitch - to try to convince or sell an idea or service.

Policed - keeping order in (a place) by means of police, or to watch over and keep control of by

authority.

Policies - courses or general plan of action adopted by a government, party, management or

person

Precautions - things done is advance to avoid risk; or precaution

Prejudice - an unreasoning opinion, like, or dislike of something or somebody

Premises - a house or other building with its grounds and outbuildings

Price margins - difference between the cost of

the product and what the product is sold for

Principles - a basic truth or a general law or

doctrine that is used as a basis of reasoning or a

guide to action or behaviour

Prioritise - placing into order that which is more

important to the other items or considerations

Proactive - taking the initiative

Processing - putting through a manufacturing or other process or course of treatment, dealing

with, performing operations on (data)

Productivity - productiveness, efficiency in a person’s efforts or and organisation’s progress.

Professionalism - the qualities or skills of a profession or professionals

Profile - a short account of a person’s character or career

Pro forma Invoice - standard form or document e.g.; invoice to be presented in advance of delivery

of goods or services.

Prominently - to be placed in an important, well known position

Promotional campaigns - a series of planned activities to publicise (a product) in order to sell it

Prone - likely to do something

Props - items such as tables, mannequins, boxes used as displays

Proportion - size dimension in relation to one thing and another

Punctuality/ punctual - the arriving or doing things at the appointed time, neither early or late

Punctuation - punctuating, the marks used for this eg; full stops, comas, questions marks

Psychological - of or affecting the mind and its workings

 

R

Reactions - a response to a stimulus or act or situation etc

Reconciliation / Reconcile - to bring (facts or statements, etc) into harmony or compatibility

when they appear to conflict

Recouped - recovering what one has lost or its equivalent

Redundancy - persons or items no longer needed

Regulatory - a collection of rules and restrictions

Relevant - related to the matter at hand

Remedial - providing a remedy for a problem or deficiency

Remuneration - payment or reward for services rendered

Reputation - public recognition for one’s abilities or achievements

Research - careful study and investigation, especially in order to discover new facts or

information

Resolution - a formal statement of opinion agreed on by a committee or assembly

Retailing - the selling of goods to the general public

Retention - retaining, to keep

Revenues - income, money collect by offering products or services.

Rosters - lists showing people’s turns of duty

Rotation / Rotate - to take turns, to be used in turn

Routine - a standard course or procedure; a series of acts performed regularly in the same

way

 

S

Sale Ability - capacity to sell or be sold

Sector - a similar division of an industry or activity e.g.: the private sector verses the public sector

Security - the safety of a country or organisation against espionage, theft or other danger

Senses - faculties of sight, hearing, smell, taste, and touch, by which the external world is

perceived

Sensitivity - to be sensitive to.

Sequential - forming a sequence, following in succession, occurring as a result , in order

Signage - signs use in a store of display.

Specialised - to adapt for a particular purpose, to especially good at doing something or offering

specific goods.

Sporadically - occurring here and there, scattered

Stand-alone - not attached or part of.

Statutory - fixed or done or required by statute

Sterile - not very exciting looking, flat feeling to.

Stock - the total of goods kept by a trader or shopkeeper

Stock Control - regulating or controlling total of goods kept by a trader or shopkeeper

Strategy - planning and directing of the whole operation of a campaign

Submissive - submitting to power or authority, willing to obey

Suitability - the appropriateness or rightness for a purpose or occasion

Symmetry - pleasing proportion between parts of

a whole eg; display

Synonymous - words or phrases with a meaning similar to that of another in the same language

 

T

Tactfulness - expressing or showing tact, avoiding offence

Takings - money taken in business, receipts

Tangible - clear and definite, real

Target market - an objective place or group where goods may be sold

Techniques - methods of doing or performing something, skill in this

Template - preset style or pattern

Tendered - formally offered to supply goods or carry out work at a stated price

Terminal - an apparatus for transmitting messages to and from a computer or

communications system etc

Terminology - technical terms used to describe a product, process or subject

Theft - stealing

Trade - exchange of goods for money or other goods / business of a particular kind

Transactional Documents - papers giving

information or evidence about business performed and carried out

Trends - the general directions that something takes; continuing tendencies

Tribunals - boards officials appointed to make a judgment or act as arbitrators on particular

problems or problems of a certain kind

Trouble-shooting - tracing and correcting faults in machinery etc or mediating in disputes

 

U

Underlying -lying or exist beneath / basis of / facts that are accounting for

Up-sell—to sell something of better value, quality or quantity for more money.

User name—name or title used when accessing computer programs.

 

V

Value-added - increase or supplementing to the amount or quantity or ability, usefulness

Vendor - a person who sells something

Viability - practicable, ability to exist successfully

Viral Effect—an effect of spreading without any assistance, such as word of mouth.

Visibility - being visible, easy to see.

Vocabulary - the words known to a person or used in a particular book or subject

Vocation - a person’s chosen line of work or trade

Voided / void - not legally valid / to make legally void, to end, to stop.

Vulnerable - able to be hurt or wounded or injured / unprotected, exposed to danger or attack

 

W

Warranties - guarantees, especially those given to the buyer of articles involving promises to repair

defects that become apparent in them within a specific period

Wholesale - the selling of goods in large quantities to be retailed by others

Written –off - to cancel; to recognise as lost; to dismiss as insignificant

 

Business Projects for Students

1. Disco - Run the school disco (Print tickets, posters and undertake running including food supply (Sausage Sizzle or Pizza)

2. Shoe Polish & Wax - Clean and wax all shoes for $2.00 per pair

3. Hot Chocholate Stall - Sell hot chocolate

4. Lollie Stall - sell lollies

5. Run a school event - like Table Tennis Tournament, 5-A-Side Soccer

6. Valetines Day "Secret Cards" - Make cards for Valetines Day and deliver them

7. Staff Luncheon - Organise a staff lunch - Sausage Rolls, Sadwiches, Cakes, Pizza etc.

 

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Warning these lessons may no longer be acceptable, they were written 2004 - 2011 and may have subsequently been superseded

Email Peter Faulks

Page updated 6th May 2014