I
Income statement: a financial statement showing revenue, expenditure and profit from operations during a given period: Enron’s income statement did not accurately reflect its losses.
Income: money received by a person, family or organisation: In some parts of the country incomes have fallen by as much as 25 per cent.
Industry: the production of goods using capital and labor: The automobile industry is facing increased competition.
Information technology abbreviation IT: the technology of processing, storing or transmitting data by electronic means: Information technology has revolutionized all aspects of management.
Infringement: a breach of the law or of another person’s rights: The Company is being sued over infringements of copyright technology.
Intellectual property: something that a person or business has invented and which is protected by patent: All international businesses are having to spend more on protecting their intellectual property.
Inventory: a list of the stocks held by a business: New software has made it possible to control inventory more accurately.
J
Joint stock company: registered company or limited company.
K
Knowledge work: work that involves developing or using knowledge: The profitability of most business today depends more on knowledge work than on manual work.
L
Legal action: using the law to defend one’s rights: The consumer association said it will consider legal action.
Litigation: legal action against an individual or organisation: Litigation has increased significantly over the.
Loading bay: the area in a factory or warehouse where goods are loaded for transport: When a truck arrives at the loading bay an employee registers the delivery.
Loan: money lent to an individual or organisation: The World Bank has agreed to a five-year loan of $125m.
Lobby: to try to persuade a government or organisation to change a policy or situation: Big companies are lobbying the president to open up marine reserves for oil drilling.
Logo: a sign or symbol used as a trademark to represent a company or a brand: The Nike ‘swoosh’ is an instantly recognizable logo.
M
Market research the work of finding out what kind of goods consumers want: Conducting online surveys is a new and promising approach to market research.
Market share: the proportion of the total market that is supplied by a particular company: Our objective is to increase our European market share by five per cent this year.
Marketing mix- Place: the distribution and delivery of goods to market.
Marketing mix- Price: the amount of money for which something can be sold.
Marketing mix- Product: normally a manufactured item but also refers to everything that surrounds the product: the brand, the packaging, the product’s features and performance characteristics.
Marketing mix- Promotion: activities that help sell a product.
Marketing mix: the four different components of marketing:
Mass market: the market for standardized consumer products: Licensing is one way for small businesses to enter the mass market.
Merchandising: toys, clothes and other products based on a popular film, TV show, etc. and sold to make additional profits: Star Wars merchandising made far more profit than the films.
Merger: the creation of a new company by joining two separate companies: The merger will have to be approved by the authorities.
Mismanagement: poor quality management: Lack of cash flow is often due to mismanagement.
Mobile: a wireless telephone: The introduction of color screens and digital imaging have made mobiles even more essential.
Motivate: make someone willing to work harder: He’s very good at motivating his sales team motivation.