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absenteeism n[U] the problem of employees not being at
work when they should be
accessory n[C] a small thing that you add to a house,
clothes etc to make them look more attractive
account n1 [C] an arrangement between a customer and a
bank that allows the customer to pay in and take out money
2 accounts [plural] the official financial records of a
company, person etc
accountant n[C] a professional whose job is to keep the
financial records of an organization, or to advise clients on
financial and tax matters
ad n[C] an informal word for advertisement
administration n[U] the activity of managing and organizing
the work of a company or organization
advert n[C] BrE an informal word for advertisement
advertise v[I,T] 1 to tell people publicly about a product or
service in order to persuade them to buy it
2 to inform people publicly that a job is available and invite
them to apply for it
advertisement n[C] a picture, piece of writing, or film that
tells people about a product or service in order to persuade
them to buy it
advertiser n[C] a person or organization that advertises their
products or services
advertising n[U] 1 telling people about a product or service
in order to persuade them to buy it
2 the companies that prepare and sell advertising, considered
as an industry
advertising campaign n[C] an organization’s programme of
advertising activities over a particular period with specific
aims, for example to increase sales of a product
agenda n[C] 1 a list of the subjects to be discussed at a
meeting
2 the things that someone considers important or that they
are planning to do something about
aggressive adj 1 an aggressive plan or action is intended to
achieve its result by using direct and forceful methods
2 an aggressive person or organization is very determined to
achieve what they want
application n[C] 1 a formal, usually written, request for
something, especially a job, a place at university, or
permission to do something
2 a practical use for something
3 a piece of software for a particular use or job
apply v1 [I] to make a formal, usually written request for
something, especially a job, a place at university, or
permission to do something
2 [T] to use something such as a law or an idea in a particular
situation, activity, or process
appoint v[T] to choose someone for a particular job
appointment n1 [C] an arrangement to meet someone at a
particular place or time
2 [C,U] the act of choosing someone for a particular job, or
the job itself
approximate adj an approximate amount, number etc is a
little more or a little less than the exact amount, number etc –
approximately adv
assertive adj behaving in a confident way in order to get what
you want
asset n1 [C] something of value belonging to a person or
company that has value or the power to earn money
2 assets [plural] the property, equipment etc owned by a
business considered together, as shown in its balance sheet
attend v[I,T] to go to an event such as a meeting
award n[C] a prize for good performance in a particular
activity
background n1 [C] someone’s past, for example their
education, qualifications, and the jobs they have had
2 [C,U] information about events in the past that explain the
current situation
balance of trade n[singular] the difference between the value
of a country’s exports and its imports
balance sheet n[C] a document showing a company’s
financial position at a particular time
bankrupt adj not having enough money to pay your debts –
bankruptcy n[C,U]
bargain1n[C] 1 something you buy cheaply or for less than
its usual price
2 an agreement between two people to do something in
return for something else
bargain2v[I] to discuss the conditions of a sale, agreement
etc in order to get the greatest advantage for yourself –
bargaining n[U]
benchmark n[C] 1 something that can be used as a
comparison to judge or measure other things
2 a good performance in a particular activity by one
company that can be used as a standard to judge the same
activity in other companies – benchmark v[T],
benchmarking n[U]
bill n[C] the total cost of something, or the document that
shows this
board also board of directors n[C usually singular] the
group of people who have been elected by shareholders to
manage a company
bond n[C] a financial certificate showing an amount
borrowed by an organization or government at a particular
Glossary of business terms
Adjective (adj) Headwords for adjectives followed by
information in square brackets [only before a noun] and [not
before a noun] show any restrictions on where they can be
used.
Noun (n) The codes [C] and [U] show whether a noun, or a
particular sense of a noun, is countable (an agenda, two
agendas) or uncountable (absenteeism, advertising).
Verbs (v) The forms of irregular verbs are given after the
headword. The codes [I] (intransitive) and [T] (transitive) show
whether a verb, or a particular sense of a verb, has or does not
have an object. Phrasal verbs (phr v) are shown after the verb
they are related to.
Some entries show information on words that are related to
the headword. Adverbs (adv) are often shown in this way after
adjectives.
Region labels The codes AmE and BrE show whether a word
or sense of a word is used only in American English or British
English.
Glossary
rate of interest for a particular period
bonus n[C] an extra amount of money added to an
employee’s wages, usually as a reward for doing difficult work
or for doing their work well
boom1n[C,U] 1 a time when business activity increases
rapidly, so that the demand for goods and services increases,
prices and wages go up, and unemployment falls
2 a time when activity on the stock market reaches a high
level and share prices are very high
boom2v[I] if business, trade, or the economy is booming, it is
very successful and growing
branch n[C] an individual bank, office, shop etc that is part
of a larger organization
brand1n[C] a name given to a product or group of products
by a company for easy recognition
brand2v[T] to give a name to a product or group of products
for easy recognition – branding n[U]
bribery n[U] dishonestly giving money to someone to
persuade them to do something to help you – bribe n[C]
budget 1n[C] an amount of money that an organization has
available to spend on something in a particular period
budget 2v[I,T] to plan the amounts of money to be spent on
different things in a particular period
bureaucracy n1 [C] a system of government that involves a
large number of departments and officials
2 [U] disapproving all the complicated rules and processes of
an official system, especially when they are confusing or
responsible for causing a delay
campaign n[C] a series of activities designed to achieve a
particular result
capacity n1 [C,U] the amount of space that a container,
room etc has
2 [singular, U] the amount of something that a company,
factory etc can deal with or produce
capital n[U] money invested in something in order to make a
chief executive n[C] the manager with the most authority in
the day-to-day management of a company
Chief Executive Officer (CEO) n[C usually singular] the
title of the manager with the most authority in the day-to-
day management of a company, used especially in the US.
The job of CEO is sometimes combined with that of
president
client n[C] someone who pays for professional services
colleague n[C] someone you work with, used especially by
professional people and managers
commercial1adj 1 relating to business
2 a commercial product or service is sold in order to make a
profit
commercial2n[C] an advertisement on television or radio
commission n[C,U] an amount of money paid to someone
according to the value of goods, services, investments etc
they have sold
compensation n[U] 1 an amount paid to someone because
they have been hurt or harmed
2 the total amount of pay and benefits that an employee
receives, especially a high-level manager
compete v[I] if a company, country etc competes with
others, it tries to persuade people to buy its products or
services rather than those of the others
competition n1 [U] a situation where businesses or countries
are competing with each other
2 [C] an event where people have to answer questions etc in
order to win prizes
competitive adj 1 used to describe situations where
companies, countries etc are competing
2 a competitive price is similar to or less than other
companies’ prices
competitive advantage n[C] something that helps you to be
better or more successful than others
competitor n[C] a person, product, company, country etc
that is competing with another
