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A-Z Glossary

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Glossary Definitions

  • Capacity utilisation
    A firm’s productive capacity is the total level of output or production that it could produce in a given time period. Capacity utilisation is the percentage of the firm’s total possible production capacity that is actually being used.
  • CRH (11th Edition)
  • Capital
    This can come in many forms e.g. liquid capital, fixed capital, circulating capital, social capital. All types of capital are valued and can be exchanged using money. The economic return on capital is interest.
  • AIB (9th Edition)
  • Capital development
    This is money spent on buildings, machinery and other equipment needed by a company.
  • DIAGEO (11th Edition)
  • Capital Inflow
    This is the movement of money into a particular country.
  • AIB (7th Edition)
  • Capital Expenditure
    Spending on the purchase or creation of fixed assets such as roads, hospitals, schools etc. These assets contribute to increasing the productive capacity of the country in the long term.
  • BT Ireland (9th Edition) | NTMA (7th Edition) | DIAGEO (11th Edition)
  • Capital Resources
    Receipts of a capital nature. They include structural fund receipts from the EU and receipts from the sale of state assets.
  • Careers advancement opportunities
    Training and job transfers within a company to enhance the employees' chances of advancement within the organisation.
  • Cashflow
    The amount of cash a company generates and uses during a period, calculated by adding non-cash charges (such as depreciation) to the net income after taxes. Cashflow can be used as an indication of a companys financial strength.
  • AIB (10th Edition)
  • Cash and Carry
    This is supermarket-style wholesaling. Retailers come to purchase on a cash only basis.
  • Centralised structure
    Organisations are centralised when important decisions are taken by managers at the top of the organisation.
  • Central Treasury Service
    A new service provided by the National Treasury Management Agency (NTMA) to certain public sector bodies such as local authorities, health boards and vocational education committees. This is essentially a banking service and the bodies in question will be able to lodge and borrow money with NTMA at attractive rates of interest. This is expected to generate savings for the Exchequer since NTMA should be able to offer a more competitive package than the commercial banks.
  • NTMA (5th Edition)
  • Channel of Distribution
    The means by which goods are passed from the producers to the final consumers.
  • Department of Transport (9th Edition) | Musgrave Group (9th Edition)
  • Charge Cards
    Similar to credit cards in concept and operation with one major exception: the bill must be paid when due or a high surcharge is levied.
  • Civil Service
    This covers those employed directly in government departments. Click on http://www.irlgov.ie/departments/ for more information.
  • Civil Service Commission (7th Edition)
  • Clinical Indemnity Scheme
    The State Claims Agency deals with claims against hospitals, doctors and nurses, and is currently managing 250 cases alleging clinical negligence. The Government covers the potential liability of medical negligence.
  • NTMA (10th Edition)
  • Code of Conduct
    This is a set of conduct of business rules that financial firms must follow by law when dealing with you. It outlines standards that you can expect when dealing with a company governed by the code.
  • Financial Regulator (10th Edition) | Financial Services Ombudsman (13th Edition)
  • Coldcalling
    When a company telephones/visits you without your prior permission.
  • Financial Regulator (10th Edition)
  • Collective bargaining
    Negotiation between groups of workers (usually but not always involving trade unions) and their employer or employers to determine wages, hours, rules, and working conditions.
  • LRC (11th Edition) | Financial Services Ombudsman (12th Edition) |
    Financial Services Ombudsman (13th Edition)
  • Co-operative movement
    A co-operative is an autonomous association or the banding together of groups of people for mutual assistance/benefit in trade, manufacture, the supply of credit, housing, or other services. The original principles of the co-operative movement were set out in 1844 by the Rochdale pioneers.
  • Glanbia (10th Edition)
  • Commercial Handcuffs
    A term describing the possibility that independent suppliers might not be able to compete in their own right if they supply own brand products to large retail outlets.
  • Commoditisation
    A product that becomes commonly used or available in the market place.
  • AIB (8th Edition)
  • Common Chapter
    The NDP (2000-2006) and the Northern Ireland Structural Funds Plan (2000-2006) each contain a chapter of agreed text that appears in both plans. This sets out a strategic framework for building upon and developing North/ South and wider co-operation across a broad range of sectors and initiatives. The SEUPB is responsible for monitoring and promoting the implementation of the Common Chapter.
  • Special EU Programmes Body (9th Edition)
  • Common Agricultural policy
    One of the central pillars of the EU. It has as its main objectives the stability of agricultural prices, the reduction of farming costs and the modernisation of farming methods.
  • Common Market
    A common market is a customs union where there is also free movement of labour and capital between its members. A customs union is a free trade area where members agree to impose a common external tariff on trade with non-members. A Free Trade Area is a group of countries, which agrees to remove all trade barriers. In this final case each member can impose its own measures on trade with countries outside the free trade area.
  • Department of Agriculture & Food (8th Edition)
  • Communications Strategy
    The means by which an enterprise identifies its target audience, determines its communications objectives, and selects the appropriate media for its intended message..
  • Luas (8th Edition)
  • Comparative Advantage
    A country should specialise in producing a good at which it is relatively more efficient.
  • NTR (6th Edition) | Enterprise Ireland (6th Edition)
  • Competitive Advantage
    The strategies, skills, knowledge, resources or competencies that differentiate an organisation or indeed country from its competitors.
  • Cadbury (10th Edition)  :: Musgrave Group (10th Edition) | Department of Education and Science (9th Edition)
  • Complainant
    A person, group, or company that makes a complaint, as in a legal action.
  • Financial Services Ombudsman (12th Edition) | Financial Services Ombudsman (13th Edition)
  • Computer software
    Instructions that enable a computer to perform its functions. In business examples of computer software include word processing packages, databases, spreadsheets, mail merge, graphical packages to improve communications and desk top publishing programs to name but a few.
  • Configure
    To arrange the components in a computer. A PC contains various components such as memory and a hard disk. When customers choose the size and mix of these components they are configuring their computers.
  • Dell (8th Edition)
  • Conglomerate
    A business organisation made up of a number of smaller companies
  • IFSRA (8th Edition)
  • Consumer Price Index
    An index measuring the price of an average basket of goods, it is used to calculate the rate of inflation.
  • Consolidation
    An exercise whereby a company can carry out the same activities in a smaller number of locations.
  • Diageo (9th Edition)
  • Consulate General
    A consulate (or consular office) is a form of diplomatic mission in charge of issues related to individual people and businesses, in other words issues outside inter-governmental diplomacy. The head of a consulate is known as a consul.
  • Department of Foreign Affairs (9th Edition)
  • Consumerism
    The field of marketing that deals with the rights of the consumer. Having appropriate information and consumer choice is crucial for building consumer confidence, particularly when dealing with food products.
  • Food Safety Promotion Board (8th Edition)
  • Consumption
    The use of a product or service by an end user until it has no remaining value.
  • Food Safety Promotion Board (8th Edition)
  • Control
    A management activity which measures progress towards a given objective.
  • Co-operative
    A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs through a jointly-owned and democratically-controlled enterprise.
  • ILCU (7th Edition)
  • Corporate Brand Identity
    A corporate identity is a brand that the public can easily recognise and identify with. Companies can improve brand equity by providing time to public servic e activities.
  • Amway (8th Edition) | GuinnessUDV (7th Edition)
  • Corporate Culture
    The values, processes and encouraged behaviours in an organisation. "The way things are done around here".
  • Cadbury (10th Edition)
  • Corporation Tax
    A tax on company profits. The rate of corporation tax in Ireland is 12.5% for trading companies making Ireland a competitive and attractive place for multinational companies to be based.
  • Court of First Instance
    An independent court attached to the European Court of Justice.
  • EU Commission (10th Edition)
  • Current spending
    Expenditure the benefit of which is received within the year, for example the wages of public servants.
  • Credit Rating Agencies
    These organisations apply ratings to debt products. The highest rating available for long-term debt is AAA and Ireland has received this from the four main international credit rating agencies.
  • NTMA (9th Edition)
  • CSR
    Corporate Social Responsibility is where a company recognises the society in which it exists and attempts to benefit it in some way. Most successful companies will view social responsibility as an important, valuable aspect of their organisational objectives.
  • Vodafone (10th Edition) | Diageo (8th Edition) | Amway (8th Edition)
  • Current Expenditure
    The government’s short term or day-to-day spending when running the country. The wages of public servants are a major element but it also includes social welfare payments and materials such as medical supplies used in the health service and office supplies used throughout the public service.
  • NTMA (9th Edition)
  • Credit Cards
    A form of non-cash payment for goods and services. A customer is given an agreed credit limit by a financial institution. The customer can use their cards to pay for goods and services. If the customer does not settle with the credit card company within a specified period of time (usually one month) they will be charged interest. If they settle on time they have had one month's free credit.
  • Current Budget deficit/surplus
    A current budget deficit occurs when planned government current expenditure exceeds government current revenue. A current budget surplus occurs when planned government current revenue exceeds government current expenditure.
  • Cyber supermall
    Similar to a 'real-life' shopping mall where many retailers trade close to each other on one site. However these are online stores. The virtual retailers pay either rent or commission on each product sold to the operators of the site.