Back-End Load - A fee or
commission paid by an individual when they sell their shares in an investment
fund.
Back Shift - A group of
workers or the period worked from late afternoon until late at night in an
industry or occupation where there is also a day shift and a night shift.
Backscratching - Informal
term for reciprocity or returning favours, as in the term 'you scratch my back
and I'll scratch yours'.
Back-To-Back Loan - A loan in
which two companies in separate countries borrow each other's money at the same
time for a specific period at an agreed upon interest rate.
Back with Music - In the
entertainment business, films, TV, etc., dialogue which is spoken over music.
Bait-and-Switch - In retail
sales, when customers are lured by advertisements for a product at a low price,
then find that the product is not available but a more expensive substitute is.
Balance Sheet - A
financial statement of an individual, company or organisation, which shows
assets and liabilities (money owed) at a specific date.
Balloon - Describes
a long term loan in which there is a large final payment when the loan matures.
Bandwidth - In
computing, the amount of information that can be transmitted through a
communication channel over a given period of time, usually measured in 'bits
per second' (bps).
Bancassurance - The
selling of both insurance and banking services, usually by a major bank.
Bankers Hours - A short
working day, often with a long lunch break.
Bank Loan - A loan
made by a bank to an individual, company, etc., for a fixed term, to be repaid
with interest.
Bank Run - Lots of
sudden and heavy cash withdrawals at the same time from a bank or banks,
because customers believe the banks may become insolvent.
Barista - A person
who is a professional speciality coffee maker, for example, cappuccino, latte,
espresso, etc.
Base 2 - Also known
as the binary system, which is the basis of computer logic. Normal counting is
based on 0-9. Binary just has 0-1, which means a new column is started after
two, not nine. Binary counting does not go 1, 2, 3, 4, etc. It goes 0, 1, 10,
11, 100, 101, etc. Other than for computing it's not very practical.
Bean Counter - An
informal derogatory term for an accountant, especially one who is perceived or
suggested to be overly concerned about expenditure detail.
Beanfeast - Also known
as a beano - an annual party, dinner, or outing given by an employer for its
employees.
Bear Market - In the
stock market a period of declining prices in which investors continue selling
shares, expecting the prices to fall further.
Bear Raid - The
practice, in the stock market, of attempting to push the price of a stock lower
by selling in large numbers and often spreading unfavourable rumours about the
company concerned.
Behemoth - A large
and powerful organisation. (originally from Hebrew, behemot - beast)
Bells and Whistles - Extra
features added often more for show than function, especially on computers,
cameras, etc., to make the product more attractive to buyers.
Below The Line - BTL.
Describes marketing which has a short-term duration, such as non-media
advertising, direct-mail, e-mail, exhibitions, incentives, brochures, etc.,
which is targeted directly at the consumer/customer. Often used by companies on
a limited budget.
Bench Warrant - An order
issued by a judge for an absent defendent to be arrested and brought before a
court.
Benefit Principle - A taxation
principle which states that those who benefit more from government expenditure,
financed by taxes, should pay more tax for the product or service than those
who benefit less.
Benefits Realisation - Also
Benfits Realisation Management, or if you prefer the US Englisg it would be
Benefits Realization. This refers to the translation of projects into real and
perceived positive effects, seemingly a concept devised originally in the field
of IT and ICT (Information and Communications Technology) project management,
where projects are notoriously difficult to manage successfully and generate
clear end-user appreciation. The term, abbreviated to BRM, is increasingly
applied more widely to change management and project management of all
sorts, representing an additional final stage of project management process,
for which a manager is sometimes specifically responsible.
Best Boy - The person
on film sets, TV, etc., who is the assistant to the electrician.
Beta Test - The second
test of a product, such as computer hardware, software, or even a website,
under actual usage conditions, before the final version is used by or sold to
the public. See Alpha Test.
Bid Bond - A sum
agreed to be paid by a company that wins a contract if the work is not carried
out.
Big Bang - Occurred
(UK) on 27th October 1986, when major technology changes took place on the
London Stock Exchange chiefly to replace manual systems with electronic
processes.
The Big Board -
An informal name for the New York Stock Exchange on Wall Street.
Bikeshed Colour effect/Colour of the
Bikeshed Law/The Bicycle Shed
Law/Parkinson's Law of Triviality - This was originally a
concept or 'law' proposed by C Northcote Parkinson in his (1957/8) book
Parkinson's Law: The Pursuit of Progress, which also gave us Parkinson's Law
itself. The revived Triviality Law was popularized in 1999 by Poul Henning
Kamp, a computer developer, effectively and accidentally renaming it the
Bikeshed Colour effect. Essentially the law contends that people in
organizations (due to human nature and organizational behaviour) inevitably
spend a disproportionately large amount of time and effort on trivia matters -
especially attempting to apply personal influence - while neglecting the really
important issues because they are difficult to understand, and consequently
more difficult to influence. See Parkinson's Law and Parkinson's Law of Triviality, which includes more explanation
about the Bikeshed
Colour effectand its derivation.
Bilateral - Agreement
or involvement or action by two parties, people, companies, countries, etc.
See Unilateral and Multilateral.
Biometrics - The
biological identification of human features, such as eyes, voices and hands,
increasingly used to identify individuals, e.g., in laptop computers, entry
systems and passports.
Bit Part - In films
and TV, a supporting actor who has at least one line of dialogue, and who is
usually listed in the credits.
Black Economy - Money
earned in private cash transactions, which is untraceable, and therefore
untaxable.
Black Knight - A company
which makes a hostile takeover bid for another company that does not want to be
bought.
Blamestorming - Portmanteau term contrived from Brainstorming and Blame,
referring to meetings or discussions seeking to allocate responsibility for a
failure or disaster. Popularised in the late 1990s by viral emails which listed
amusing office terminology.
Blatherskite - A person
who talks at great length without saying anything useful. Originally a Scottish
16thC expression adopted into American slang from the song Maggie Lauder during
the US War of Independence.
Blind Test - Research
method in which people are asked to try a number of similar products which are
not identified by brand name, to decide which product is the best.
Blind Trial - A trial,
with two groups of people, to test the effect of a new product, especially in
medicine. One group is given the real product while the other group is given a
placebo or 'sugar pill', which does not contain any medication.
Bloatware - In
computing, software that needs so much computer memory that it takes a long
time to load and therefore does not function properly.
Blue Chip - On the
stock market, shares of a large company with a good reputation, whose value and
dividends are considered to be safe and reliable.
Blue-Sky Law - In the US,
a law designed to protect the public from buying fraudulent securities.
Blue-Sky Thinking -
Open-minded, original and creative thinking, not restricted by convention.
Bluetooth - Wireless
technology which allows data to be transferred over short distances between
laptop computers, mobile phones, digital cameras, etc.
Blue Law - In the US,
a law which regulates and limits activities for religious reasons, such as
Sunday working or shopping.
Bodhisattva - From
Buddhism, a person who seeks enlightenment for the good of, and motivated by a
compassion for, other people. In Western thinking we could see this to be
similar to Maslow's notion of 'trancendence' in the pursuit of
self-actualization, notably helping others to self-actualize. Not an easy
concept to explain; in the spectrum of human behaviour it's about as far away
that can be imagined from the pursuit of a merchantbanker's bonus or the Presidency
of Europe, if you'll forgive the clichés.
Boilerplate - A section
of standard text, especially a contract clause, inserted into legal documents,
or instead increasingly referring to a standard section of code inserted into
computer programs or other digital applications.
Bona Fides -
Credentials showing someone's true identity. (Latin - with good faith)
Bonded Warehouse - A
warehouse in which imported goods are stored under bond, until the import taxes
are paid on them.
Bonus - An extra
sum of money given to an employee on top of their salary, often for achieving
targets.
Bonus Culture - Term used
when companies give their executives huge bonuses in addition to their large salaries,
even if their performance has been poor, especially leaders of financial
institutions.
Book Depreciation - A decrease
or loss in value of a company's assets, as recorded in the company's finances.
Boomlet - A small
period of rapid growth in trade and economic activity.
Bookkeeping - The
recording of a business's transactions, such as sales, purchases, payments,
income, etc.
Bootstrapping - Starting a
business from scratch and building it up with minimum outside investment.
Bossnapping - Believed to
have started in France, the unlawful imprisonment of a boss, in the offices of
a company or on the site of a corporation, by employees who are protesting
against redundancy, closure of the company, etc.
Bottom Fishing - Buying the
cheapest investments available which are unlikely to fall much further in
value.
Bounty Hunter - In the US,
someone who pursues criminals or fugitives and brings them to the police in
exchange for a monetary reward.
Boutique - A small
shop typically selling fashionable and expensive items such as clothing. The
term 'boutique' is now increasingly applied to various other sectors and
products to denote small-scale and high individual or hand-made quality, for
example Boutique Hotels, below.
Boutique Hotel - A small individual hotel,
commonly within a historic building, with luxurious stylish themed and
furnished rooms, typically independently owned.
Bracket Creep - Slowly
moving into a higher tax bracket with small pay increases over a period of
time.
Brain Drain - The loss
of highly skilled people to another region, country or industry, where they can
work in a better environment and/or earn more money.
Brainstorming - Problem
solving in small groups, contributing ideas and developing creativity.
Brand - A unique
identifying symbol, trademark, company name, etc., which enables a buyer to
distinguish a product or service from its competitors.
Brand Association -
Something or someone which make people think of a particular product.
Brand Loyalty - When a
consumer repeatedly buys a particular brand of product and is reluctant to
switch to another brand.
Bread and Butter - The main
source of income of a company or an individual.
Break Even - To make
enough money to cover costs. In business, the point at which sales equals
costs. To make neither a profit or loss.
Bridging/Bridging loan/Bridge - A short
term loan, normally at high rates of interest calculated daily, which 'bridges'
a period when funds are unavailable, typically when payment has to be made
before finance can be released from elsewhere to cover the transaction.
Brinkmanship - The
practice of pursuing a tactic or method to the point of danger or damage,
typically employed in competitive situations in which it is felt that the
tactic will unsettle or cause the withdrawal of the adversary/ies. Dervies from
the word brink, meaning the edge of a cliff or other dangerously high point.
British Standards
Institution - BSI. An organisation which sets out formal guidelines to
help businesses, etc., produce or perform more efficiently and safely. The BSI
operates in more than 25 countries, and represent UK interests in other
organisations, such as the ISO - International Organisation For
Standardization.
Brownfield - Previously
developed land, either commercial or industrial, which has been cleared for
redevelopment.
Brown Goods -
Household electrical entertainment appliances such as televisions, radios
and music systems.
Brown-noser - Insulting
slang term for a sychophant, originally 1930s US military slang (brown-nose).
Brown-nosing describes crawling or creeping to please a boss; an amusingly
disturbing interpretation of various expressions which juxtapose the head of
the follower with the backside of the boss, as in the rude slang metaphors:
kissing arse/ass, arse-licking, bum-licker, etc.
Bubble Economy - An
unstable boom when the economy experiences an unusually rapid growth, with
rising share prices and increased employment.
Budget - Allocation
of funds or the estimation of costs for a department, project, etc., over a
specific period. The management of spending and saving money.
Built To Flip - Companies
which have been sold soon after they have been created, so that money can be made
quickly.
Bullet Point - A symbol,
e.g. a dot or a square, printed at the beginning of each item on a list.
Bull Market - On the
Stock Market, a prolonged period in which share prices are rising and investors
are buying.
Business Angel - Also known
as Private Investor. A, usually wealthy, individual who invests money in
developing (often high risk) companies, and who provides their advice, skills,
knowledge and contacts in return for an equity share of the business.
Business Plan - A written
document which sets out a business's plans and objectives, and how it will
achieve them, e.g. by marketing, development, production, etc.
Business To
Business - B2B. Commercial transactions or activities between
businesses.
Business To
Consumer - Transactions in which businesses sell goods and/or
services to end consumers or customers.
Button Ad - A small
advertisement on a website, typically measuring 120 x 90 pixels.
Buy-in - Purchase
of a company where outside investors buy more than 50% of the shares, so they
can take over the company.
Buzzword - A word or
phrase which has become fashionable or popular, or sounds technical or
important and is used to impress people.
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