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Glossary Definitions
- Occupational Pension Scheme
A pension scheme set up by an employer to provide retirement benefits for employees. This term is used interchangeably with "company pension scheme". - The Pensions Board (6th Edition)
- Official Journal of the European Union (OJEU)
This is the publication in which all ontracts from the public sector which are valued above a certain threshold must be published. - Bus Eireann (9th Edition)
- Omnibus Studies
An omnibus study is where organisations within an industry purchase results to generic questions on a 'hybrid' interview (either face-to-face or by telephone). The organisation will be one of many in an industry that simply wants a straightforward answer to a question i.e. understanding consumer trends. This research is far cheaper, committing less time and effort than conducting individual research. - Online store
A virtual shop from which customers can purchase goods via the internet and pay for them usually with credit cards. With 360 degrees cameras any part of a shop can be seen on the consumer's monitor. - Open Economy
an ‘open’ economy is one which is not bound by trade restrictions on the free movement of goods and the factors of production into and out of the economy. - Food Safety Promotions Board (7th Edition)
- Operating profit
The difference between revenue (or turnover) and the costs incurred during operations (total operating expenses). - DIAGEO (11th Edition)
- Ordinary shares
Financial assistance is given to start up and/or early stage companies in the form of equity. Holders of these shares receive dividends after preference shareholders however dividends vary with profits. - Enterprise Ireland (5th Edition)
- Organic growth
Developing existing businesses financed from the reserves of the company. - CRH (13th Edition)
- Organisational structure
The framework for identifying and organising the tasks to be performed within an organisation is referred to as its organisation structure. These not only determine the different departments in the organisation but also establishes who is responsible to whom, for example the company's chain of command. - Irish League of Credit Unions (6th Edition)
- Own Brand
These are products manufactured by independent suppliers under contract to large retail outlets bearing the retailer's name. - Overheads
The general, fixed costs of running a business, as rent, lighting and heating expenses, which cannot be charged or attributed to a specific product or part of the work operation. - IP Trust / INFACT (13th Edition)
