BizWords2

Remember, you can reach this site on your mobile handset at our new bizeng.mobi!

Key Terms (D-K)

Database

A collection of information in a specific category. “Our direct mail database has all of the customers who’ve inquired about our products in the last five years.”
Deadline The time a project or product must be completed. "Friday is the deadline, so we’ll probably have to work late Thursday night."
Debt An obligation, usually money, which is owed by the Debtor to the Creditor, who has extended that money as a loan. “His brother was deep in debt because he used his credit card unwisely.”
Debit In accounting, an entry showing an amount to balance against other amounts earned or paid, called Credits. (Also a verb) “We’ll just put a debit to your account for the new purchases.”

Demand The desire of customers to have your product. "There doesn’t seem to be any demand for our most expensive products."
Demographics A statistical study of human populations especially with reference to size and density, distribution, and vital statistics. “The demographics would indicate we should not build a fast food restaurant in the middle of a desert with no highway nearby, even though the land would be inexpensive.”
Design A widely-used word in the arts and in business for deliberate purposive planning. “We love the design of your business model.”
Discount A price that has been lowered by the seller. "If you buy 100 refrigerators today, we’ll give you a 10% discount."

Discretionary: (Income, Spending, Expense) Existing resources that are not ties to staples or other mandatory expenses. “We’ll take that surprise party out of discretionary funds.”
Distribution Getting the product out to the final consumer. "Our distribution system is now just three old pushcarts."
Diversify Start many new businesses, or build several products, instead of just one. "If we diversify, people may forget how much they liked our main product."
Downside The potential factor which presents a negative aspect to a process or plan. “The downside risk of opening a store is that no one walks in the door.”
Economics The study of finance and money. "People who study economics are often not the entrepreneurs.”
Economies of scale The value gained by repetition in larger numbers. “If we make a mold of this device, we’ll profit by being able to make a thousand of them for two cents apiece.”
Employee A worker for pay in a company. "Employees today need technical training to be able to perform their jobs well."
Employer The person who finds, pays, and guides workers in relation to the needs of the business. "My employer told me I have a chance to make supervisor."
Entrepreneur One who organizes, manages, and assumes the risks of a new business or enterprise, quite often the owner. “He’s the entrepreneur who first saw that people would actually buy water in a bottle.”
Estimate In business, a calculated guess about how much something will cost "We estimate this new product can be developed for 2 million euros."
Expense In business, an item of business outlay chargeable against revenue. Professional salaries are our largest expense.”
Export To send goods out of an area, usually a country. "The dry season is not good for our export of raincoats."
Extend To give more, usually with time on a loan or amount of money. "The money must be paid by tomorrow, unless the bank will extend the deadline."
F-G | Top | H-K

Facilities Offices, shops, warehouses, and store from which a business operates. “We’ll be able to expand our facilities to keep more inventory now.”
Finance The study of money as a resource."Every business is a different study in Finance."
Fiscal Relating to financial matters in a business. “As department manager, she has shown a great deal of fiscal responsibility.”
Fiscal Year An accounting period of 12 months, not necessarily corresponding to the Calendar year. “Our fiscal year begins August after we’ve had the annual vacation period.”
Fiduciary Maintaining public confidence in the value of a business. “The board of directors has fiduciary responsibility to make sure the company pays its employees.”
Focus Group A small group of people whose response to something (as a new product or a politician's image) is studied to determine the response that can be expected from a larger population. “We’ll run this new product idea past a focus group next month.”
Fund To provide money for an endeavor. "The government will fund 50% of each health plan."
Glut (verb) Saturating a market with product. (noun) The items saturating the market. “Hula hoops and frisbies were a popular items a one time, but now manufacturers glut the market with cheap plastic rip-offs.”
Gross The total amount of money received as income from sales, licenses, and any other source. Some movies take in a $100 million in gross, and that just covers production expenses.”

Growth In business, anticipated progressive growth especially in capital value and income. “We think we are in a growth market for car washes.”
H-K | Top | F-G

Human Resources (HR) Pertaining to the hiring, pay, firing, benefits, and all legal obligations pertaining to a employees. “Let’s run this hiring plan by the people in Human Resources.”
Import To bring goods into an area, usually a country. "We have to import the products we don’t have for the demands of our market."
Incentive A special reason, often a price, to get customers to buy -- or others to produce in other ways."If we give customers 24 months to pay, they’ll have more incentive to buy a new refrigerator."
Income tax A percentage paid to the government based on money received. "After paying 25% income tax, this business could only break even."
Inflation Rising prices and other costs involving money. "Because oil prices have increased by 7%, that increases transportation costs which contribute to inflation throughout most of the economy.”
Innovation In business, a new idea, method, or device. “We’ve been able to keep ahead of competitors with our constant product innovation.”
Intellectual Property A property (as an idea, invention, or process) that derives from the work of the mind or intellect. “If we can defend our intellectual property, it will be a barrier to entry for competitors.”
Information Technology (IT) Within a business, the technology involving the development, maintenance, and use of computer systems, software, and networks for the processing and distribution of data.– “The network will be down until the information technology department can get it back up and running.”
Industry Segment A categorization of business, usually into Manufacturing, Service, and Retail segments. “Our cell phone services don’t usually include manufacturing new phones; it’s not our industry segment.”
Install To put in and prepare for use, as with a home appliance. "If you buy before Friday, we'll install this washing machine for free."
Interest "A loan with 2% interest is very attractive."
Inventory Items that you keep so that you can sell them in the future. "Every summer we wonder if our inventory of sunglasses will be enough to satisfy consumer demand.”
Invest Spending money now believing that what is paid for will be more valuable in the future. "If we had the money to invest in land 20 years ago, we’d be wealthy now."
Invoice A document which details what was sold and at what agreed prices. "According to the invoice, we have to pay extra for modifications to the product."

Top

A-C | L-Q | R-Z