The terms used in business such as Project Management ,Project Sponsor,Promotion , Promotional Discount,Prompt Note etc.
This post explains about terms used in business such as Profit Squeeze ,Profit Sharing,Profit-centre,Project,Project Management ,Project Sponsor,Promotion , Promotional Discount,Prompt Note etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.
The terms used in business
Profit Sharing - An incentive scheme in which a business shares some of its profit , usually in cash or shares, with its employees.
Profit Squeeze - A situation in which a company or business makes less profit over a period of time because of rising costs and/or falling prices.
Profit and Loss Statement (P&L): A financial report listing sales, expenses, and net income that gives operating results for a specific period
profit: Financial gain, returns over expenditures.
Profitability / Rentabilité :Concept of the relation between a result (desired goal) and the means used to achieve it.
Profit-centre - A business division or department or unit which is responsible for producing a profit, for example a shop unit within a chain of shops, or a branch within a network dealerships. Significantly a Profit-centre business unit will use a 'Profit and Loss Account' as a means of managing and reporting the business. A profit centre is involved in selling to customers. See Cost-centre, which tends only to be responsible for internal services and supply to other departments.
Profiteer - An organisation or individual who makes excessive profits by charging very high prices for goods which are in short supply.
Pro-forma Invoice:The word, ”Pro-forma”means in the form of; the pro-forma invoice is thus not an actual invoice but is in the form of an invoice which shows the nature, quality, quantity, number, weight, measurement, price , etc. of the goods sent on consignment. The price quoted on it may be cost price or selling price, which the consignee is to charge or an indication of a morpheme price below which the consignee must not sell. It is sent by the consignor to the consignee.
pro-forma: A projection or estimate of what may result in the future from actions in the present. A pro forma financial statement is one that shows how the actual operations of the business will turn out if certain assumptions are achieved.; a document issued before all relevant details are known, usually followed by a final version.
Program Trading - On the Stock Market, the buying and selling of large amounts of shares by computer, the program of which is triggered when trading reaches a certain level of volume.
Progressive Taxation - A convex tax schedule that results in a higher effective tax rate on high income levels than on low-income levels.
Prohibitive - Preventing or discouraging something, for example people are discouraged from buying a product because the price is prohibitive, i.e., too high.
Project - A very general term for a task or objective of some complexity and duration, such that it needs properly planning, organizing, resourcing and managing. A small project can easily be part of a person's usual work duties. A large project can be as big as starting a new business, or constructing a skyscraper, or putting a spacecraft on Mars. Typically large projects are established as being separate to usual operational duties and responsibilities of workers, although any job can at any time be extended to include responsibility for the management of a project within it. A project differs from conventional 'work' mainly in being far more firmly structured, scheduled, resourced, and proactive, etc., whereas conventional 'work' is less predictable and tends to be of a more passive, responsive, reactive and flexible nature. Projects may be opportunistic and proactive (such as new product developments, or building something new, or some sort of exploratory research), or a necessary response/reaction to problems, emergencies, failures, etc., (for example a product recall, or a disaster recovery or investigation, or a re-training requirement). Large projects almost inevitably involve a degree of people-management. Projects may require that people/labour resources are provided internally/'in-house' or externally/'contracted-out' and commonly a mixture of both, especially if the project is large compared to the size of the organization which owns and instigates the project.
Project Management - The process of managing and planning a successful project from start to finish, which includes controlling, organizing, managing resources, people, budgets, etc. See project management.
Project Manager - A person responsible for planning and delivering a large stand-alone task, objective, venture, etc., (a large and complex 'project') or a professional who is skilled in doing this, which generally includes using suitable project management tools and systems, and people-management skills where appropriate. N.B. A person who is instructed to plan and manage a project within his/her conventional work duties is not necessarily, in the usual meaning of the term, a 'project manager'. The term 'project manager' usually refers to a person whose primary responsibility is to manage a stand-alone project which by definition falls outside of conventional and normal operational work duties.
Project Sponsor - A person in an organization who instigates or proposes a project, and creates/establishes/agrees the necessary executive approval, funding, resourcing, etc., typically extending to the appointment of the project manager. A project sponsor is usually and crucially responsible for developing and presenting the financial justification for the project, which generally entails outcomes and timescales, and assuming personal accountability for the success of the project.
Projection - see Forecast.
Projection: Prospective financial statements which present an entity's expected financial position, results of operation and changes in financial position, based upon one or more hypothetical assumptions
PROM - Programmable Read Only Memory. In a computer, a permanent memory chip which can only be recorded on once, by the computer user, not the manufacturer, after which the data is stored and cannot be changed.
Promissory Note - Financial document in which the buyer agrees to make payment to the seller at a specified time.
Promissory Note:It is an unconditional promise in writing made by one person to another to pay a stated amount of money to a specified person or to the order of a certain person to the earner at fixed date or on demand.
Promo - A promotional broadcast on television, radio, etc., advertising a product, TV show, film, etc.
Promotion - The use of marketing and/or advertising to bring attention to a product, brand, service, company, etc., usually in order to increase sales. The raising of an employee to a higher rank in an organisation.
Promotional Discount - Promotional discounts may take the form of reduced monthly payments, signing bonuses, free service periods, full or partial waiver of installation charges, full or partial waiver of PIC change charges, or any combination thereof.
promotional pricing: Temporarily pricing a product or service below list price or below cost in order to attract customers.
Prompt Note - A document sent to someone to remind them when a payment is due on a purchase.
PROMPT PAYMENT ACT:A federal law that requires federal agencies to pay interest to companies on bills not paid within 30 days of invoice or completion of work.
Proof Copy - The printed pages of a book, magazine, etc., which is read and corrected (e.g. spelling mistakes) by a Proof Reader before the final printing of all the copies.
Propaganda - Politically motivated publication or writing designed to influence thinking or action, usually in a misleading way. When carried out by a government or other authority this may also be referred to in more modern terms as 'spin'. The word derives from the Latin name of a Roman Catholic committee responsible for 'propagation of the faith' in the 1600s.
Property, plant, and equipment (PP&E): Assets that are used in the business, which exist physically, and are not for sale to customers
Proportion of compensation / Quotité indemnisée :Proportion between the total amount of the debt at the time of indemnification and the actual amount indemnified.
Proprietary Trading - The buying and selling of shares, bonds, etc., by a securities firm with its own money for its own profit, rather than for its customers.
The above details describes about terms called in business such as Profit Squeeze , Profit Sharing,Profit-centre,Project,Project Management ,Project Sponsor,Promotion , Promotional Discount,Prompt Note etc These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in overseas trade below this post.Terms used in trade such as Product Portfolio,Product,Production Sharing,Professional Liability,Profit,profit margin etc
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