Business Terms and Words – Part 3a - Ajit Patel UK, Sanda Wellbeing and Sanda Wellness Group, Goldsh

C2C - Consumer-To-Consumer, a marketing/business model (compare with B2B, B2C, etc) illustrated by 'car-boot' sales, yard sales, small private ads, and more significantly E-Bay, Amazon and other big C2C internet portals, which by the end of the first decade of the 2000s had become a substantial aspect of global economics and human society, and a real threat to the long-term future of some very large corporate industries. See also the broadly equivalent P2P (big explanation of P2P [Peer-To-Peer] in the acronyms section).

Cafeteria Plan - A system which allows employees to choose from a selection of benefits which may be tax-advantaged, such as retirement plan contributions, health benefits, etc., in addition to their salary.

Calculated Risk - A risk which has been undertaken after careful consideration has been given to the likely outcome.

Callable - Usually applies to bonds or convertible securities which can be bought back, at an agreed price, before maturity, by the company or government which sold them.

Call Account - A bank account, which usually pays a higher rate of interest, from which investors can make instant withdrawals.

Callipygian - Having well-shaped beautiful buttocks. This fascinating obscure term (thanks S Marcus, PhD) - indeed the OED categorises the adjective as 'rare' - deserves wider exposure. Callipygian is pronounced 'Kallipijian' with the emphasis on the 'pij' syllable. A more recent variation is Callypygous ('kallipijus'). The word came into English in the late 1700s from Greek, kallipugos, which was used to describe a statue of Venus (the 1922 OED says it was actually the name of a statue of Venus), from kallos meaning beauty, and puge, meaning buttocks. Kallos is also a root of the word calligraphy (decorative handwriting/lettering), and callisthenics (graceful gymnastics).

Cap And Collar - The upper and lower limits of interest rates on a loan, usually fixed for a specific period of time.

Capital - The net worth of a business, including assets, cash, property, etc., which exceeds its liabilities (debts). The amount of money invested in a business to generate income.

Capital Allowance - Money spent by a company on fixed assets, such as buildings, vehicles, machinery, which is deducted from its profits before tax is calculated.

Capital Flight - The sudden movement of money from one country or investment to another in order to reduce risk, such as high inflation, or to increase profit.

Capital Gains Tax - Tax payable on profits made on the sale of certain types of assets by a company or individual.

Capitialism - When an economic system of a country is controlled and profited by private individuals and corporations, rather than the government.

Capitalization Issue - When a company converts its spare profits into shares, which are then distributed to existing shareholders in proportion to the amount of shares they already hold.

Capital Outlay - Money which is spent for the acquisition of assets, such as land, buildings, vehicles, machinery.

Capped-Rate - Interest rate, usually on a loan, which cannot rise above the upper set level but can vary beneath this level.

Carbon Credit - Allows the right to emit a measured amount of harmful gases, such as carbon dioxide, into the air, and can be traded between businesses and countries.

Carey Street - To be heavily in debt or bankrupt. Originates from Carey Street in London where the bankruptcy court was situated.

Carload - A shipment of goods which, typically by weight, qualifies for a lower shipping rate. The term 'Less than carload' refers to a shipment which is below the given size/weight necessary to qualify for such a rate. The term originated from USA railway freight car transportation and also applies to other methods of freight transport, notably shipping containers, hence similar terms containerload and 'less than containerload'.

Carnet - An international official permit which allows you to take certain goods, e.g. for display or demonstration, into another country, duty free, for a specific period - usually 12 months.

Carpet Bomb - To send an advertisement to a large number of people by e-mail or onto their computer screens.

Cartel - A group of separate companies or nations which together agree to control prices and not compete against each other. Also known as a Price Ring.

Cash Call - A request by a company to its shareholders to invest more money.

Cash Cow - A steady dependable source of income which provides money for the rest of a business.

Cash Flow - The movement of money into and out of a company, organisation, etc.

Cash Flow Forecast - Also called Cash Flow Projection. An estimate of the amounts of cash outgoings and incomings of a company over a specific time period, usually one year.

Casting Vote - The deciding vote cast by the presiding officer to resolve a deadlock when there are an equal number of votes on both sides.

Catch-22 - Much misused expression, it refers properly only to a problem whose solution is inherently self-defeating. Wrongly it is used to describe any insurmountable or difficult problem. It's from Joseph Heller's book of the same name; see cliches origins.

Category Killer - Large companies that put smaller and less efficient competing companies out of business.

Cattle Call - Term used in the entertainment industry for a large number of actors, etc., who are all auditioning for the same job.

Caveat Emptor - When the buyer takes the risks and is responsible for checking the condition or quality of the item purchased. (Latin - Let the buyer beware)

C E Mark - Conformite Europeenne (European Conformity). A symbol on many products sold in the European Union indicating that they have met health, safety and/or environmental requirements, ensuring consumer and workplace safety.

Central Counterparty - Acts on behalf of both parties in a transaction, so that the buyer and seller do not have to deal with each other directly.

Central Reservation System (CRS) - A computer database system used by a chain of hotels (and other services providers) enabling availability and rates to be monitored and bookings to be made.

Chain Of Command - A system in a business, or in the military, in which authority is wielded and delegated from top management down through every level of employee. In a chain of command instructions flow downwards and accountability flows upwards.

Chamber Of Commerce - A group of business owners in a town or city who form a network to promote local business.

Channel Of Distribution - Also known as Distribution Channel. A means of distributing a product from the manufacturer to the customer/end user via warehouses, wholesalers, retailers, etc.

Check The Gate - A term used in the film industry after a shot is taken on a film set. The gate, or opening in front of the camera, is checked to make sure that there is no dirt, hair, etc., present.

Clapper Boy - On a film or TV set, the person who holds the clapperboard (which has information on it, for example film title, shot number, etc) in front of the camera for about one second at the start of each shot after the camera starts rolling.

Class Action - A lawsuit in which one person makes a claim and sues on behalf of a large group of people who have similar legal claims, usually against a company or organisation.

Class A Spot - In the media, commercials which are run on a prime time network.

Click Farm - A supplier of fraudulent website traffic/visitors - typically an organized and exploited group of low-paid workers who are tasked to visit websites to post false reviews/comments or to click on PPC adverts so as to generate fraudulent clickthrough advertising revenues.

Clicklexia - Ironic computing slang for a user's tendency to double-click on items when a single click is required, often causing the window or utility to open twice.

Clicks And Mortar - Also known as Clicks and Bricks. Refers to businesses which trade on the Internet as well as having traditional retail outlets, such as shops.

Clickstream - A record of an internet user, including every web site and web page which have been visited, and e-mails sent and received.

Click-Through/Clickthrough/'Clickthru' - When a person clicks on an advertisement on a web page which takes them to the advertisers website.

Clip-Art - Ready made pictures of computerised graphic art which can be copied by computer users to add to their own documents.

Close Company - In the UK, a company which is controlled by five or less directors.

Code-Sharing - An arrangement between different airlines in which they all agree to carry passengers on the same flight using their own flight numbers.

Coercion - Forcing someone, by some method or other, to do something or abstain from doing something against their will.

Combined Ratio - In insurance, a way of measuring how much profit has been made by comparing the amount of money received from customers to the amount paid out in claims and expenses.

Commercial Monopoly - The control of a commodity or service by one provider in a particular market, virtually eliminating competition.

Commercial Paper - An unsecured and unregistered short-term agreement in which organizations can borrow money from investors who cannot take the assets from the organization if the loan is not repaid.

Commission - In finance, a payment based on percentage of transaction value, according to the local interpretation of value (e.g., based on total revenue, or gross profit, etc).

Commission Broker - A person who buys and sells shares, bonds, etc., on a commission basis on behalf of their clients.

Companies House - A government agency in the UK which is responsible for collecting and storing information about limited companies. The companies must file annual accounts or face penalties.

Comparative Advantage - See definition for Competitive Advantage.

Compensation Fund - A fund set up by a company or organisation from which to pay people who have suffered loss or hardship which has been caused employees or members of the company or organisation.

Competition Law - Known as Antitrust law in the US, regulates fair competition between companies, including the control of monopolies and cartels.

Competitive Advantage - A position a business gains over its competitors.

Competitor - A business rival, usually one who manufactures or sells similar goods and/or services.

Competitor Analysis - Also called Competitive Analysis. A company's marketing strategy which involves assessing the performance of competitors in order to determine their strengths and weaknesses.

Compliance Officer - A corporate official whose job is to ensure that a company is complying with regulations, and that its employees are complying with internal policies and procedures.

Compound Interest - Interest which is calculated on not only the the initial loan, but also on the accumulated interest.

Compromise Agreement - Euphemism for a 'Gagging Clause'.

Compulsory Purchase - When an organisation has the legal right to force the sale of land, property, etc., usually to build motorways or railways.

Concept - A thought or notion. An idea for a new product, advertising campaign, etc.

Concierge - An employee of e.g. an hotel who provides a service to guests, such as handling luggage, delivering mail and messages, making tour reservations, etc.

Conciliation - To bring two disputing sides together to discuss the problem with the aim of reaching an agreement.

Concordance - In publishing, a concordance is an alphabetical list of the key words from a text showing their meanings. Concordances are rare in old large books because of the time and effort required to compile them, but more commonly arise in modern computer-generated applications. A concordance is a sort of cross-referenced index, but in (sometimes very much) more detail than the standard index of chapters and subjects typically shown before the main content. There are other more complex and different meanings of the word concordance relating to various technical applications (mathematics, genetics, etc) where often the meanings concern duality or cross-referencing of some sort.

Conditional Sale - A purchasing arrangement, usually where the buyer pays in instalments but does not become the legal owner of the goods until the full purchase price has been paid.

Conference Call - A telephone call which allows three or more people to take part at the same time.

Conflict of Interest - A much overlooked, under-estimated, yet highly prevalent factor in the execution of any responsibility or activity, where an organization/group/individual is subject to incompatible demands, opportunities, incentives, or responsibilities, etc., and especially where there is potential for one demand to distort the proper honest diligent execution of responsibility in achieving the second demand, i.e.., the incompatibility is competing and mutually unhelpful. A conflict of interest produces divided loyalties, for example where a person represents two different competing businesses, or an employee is responsible for managing family members or personal friends. Nepotism unavoidably involves a conflict of interest, regardless of intent. Politicians being paid to give advice to corporations also unavoidably involves a conflict of interest, even where there appears to be no direct connection between the politician's political responsibilities and the nature of the advice and corporate 'client'. In this respect, and elsewhere, denial of conflict of interest generally ignores the value and influence of indirect connections, obligations, 'quid-pro-quos', especially via friends and associates. Similarly where advisors work for a government or regulatory authority, and also have external commercial interests, there is always and unavoidably some conflict of interest. Any form of organizational self-regulation or self-investigation almost always entails a conflict of interest. Common commercial conflicts of interest arise where a provider is able to benefit in the supply of one service as a direct result from the provision of another related service and whose overall effect is typically to the disadvantage of the 'client' organization. Common examples of corporate or organizational conflict of interest may arise where a group/organization seeks to combine provision from the two lists below, where the second activity concerns the first. The lists are not exhaustive and offer merely very broad examples to illustrate the principle. Be sure to clarify context before making firm judgments:

giving service training product supply setting prices buying awarding contracts quality maintenance specifying/selecting

regulation of service accreditation of training investigation of faults/complaints supplying representing suppliers inspection/quality assessment selling

Conglomerate - A corporation which consists of several smaller companies with different business activities.

Conservator - In law, a guardian or protector appointed by a court to manage the affairs, finances, etc., of someone who is too ill or incapable of doing so themselves.

Consortium - A group of businesses, investors or financial institutions working together on a joint venture.

Constructive Spending - Helping the local economy by buying home produced goods, holidaying in your own country, etc., rather than buying imported goods and holidaying abroad.

Consultant - An expert who is paid by a company, individual, etc., to give advice on developing plans and achieving goals.

Consumer - An individual who uses goods and services but who may not have been the purchaser.

Consumer Credit - Also called Personal Credit or Retail Credit. Loans given to consumers by financial institutions for household or personal use.

Consumer Debt - Money owed by people in the form of loans from banks or purchase agreements from retailers, such as 'buy now pay later'.

Consumer Panel - A group of selected people, usually a cross-section of a population, whose purchasing habits are monitored by an organization, in order to provide feedback on products, services, etc., which are used.

Consumer Price - The price which the general public pays for goods and services.

Consumer Price Index - CPI. A measure of inflation which involves regularly monitoring the change in price for everyday goods and services purchased by households.

Consumer Protection - Laws which protect consumers against unsafe or defective products, deceptive marketing techniques, dishonest businesses, etc.

Consumer Watchdog - An independent organization that protects the rights of individual customers and monitors companies to check for illegal practices.

Consumption Tax - Tax paid which is based on the price of services or goods, e.g. value added tax.

Contango - A situation in which the price of a commodity to be delivered in the future exceeds the immediate delivery price, often due to storage and insurance costs.

Contingency Fee - In law, a fee that is payable to the lawyer out of any damages which have been awarded to the client by a court. There is no payment if the case is unsuccessful.

Contingent Liability - This is recorded as a debt on a company's accounts which may or may not be incurred, depending on the outcome of a future event, such as a court case.

Contraband - Goods prohibited by law from being exported or imported. Smuggling.

Contract Of Employment - A contract between an employee and an employer which specifies terms and conditions of employment, such as hours to be worked, duties to perform, etc., in return for a salary, paid benefits, paid holiday, etc., from the employer.

Contract Of Purchase - Also called Purchase Agreement. A legal document which states the terms and conditions, including price, of the sale of an item.

Contractor - An individual, company, etc., who agrees to provide goods and/or services to another individual or company under the terms specified in the contract.

Contract Worker - A person who is hired by a company (but not as an employee), often through an employment agency, for a specific period of time to work on a particular project.

Contra Entry - In accounting, an amount entered which is offset by another entry of the same value, i.e., a debit is offset by a credit.

Control Account - An account which a company keeps in addition to its official accounts, in order to cross-check balances, etc., to ensure that the official accounts are accurate.

Controlling Interest - The ownership of more than 50% of the voting shares in a company, which enables the owner of these shares to make decisions, direct operations, etc.

Convene - To gather together for an official or formal meeting.

Convention - A large formal meeting of politicians, members, delegates, sales people, etc.

Convertible - Refers to a security (bonds or shares) which can be exchanged for another type of security in the same company.

Convertible Currency - Currency which can be quickly and easily converted into other countries currencies.

Conveyancer - A specialist lawyer who is an expert in conveyancing, i.e., legal work carried out connected to the selling and buying of property.

Cookie - On a computer, coded information that an Internet website you have visited sends to your computer which contains personal information, such as identification code, pages visited, etc., so that the website can remember you at a later time.

Cooling-Off Period - A period of time after the exchange of contracts, purchasing agreements, etc., during which the purchaser can change their mind and cancel the contract, and usually get any deposit paid reimbursed.

Cooperative - An organisation or business which is owned and run by its employees, customers and/or tenants, who share the profits.