Terms used in trade such as Hawthorne Effect,Heatseeker,Hedge Fund,Hedging Tools,High Context Culture,High Net Worth etc


Terms used in business such as Hawthorne Effect,Heatseeker,Hedge Fund,Hedging Tools,High Context Culture,High Net Worth etc.



This post explains about terms used in business such as Harmonised System, Harmonized Tariff Schedule, Hawthorne Effect,Heatseeker,Hedge Fund,Hedging Tools,High Context Culture,High Net Worth,Hire Purchase System 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.


Terms used in business


Harmonised System (HS) / Système Harmonisé (SH) :System, under the aegis of the World Customs Organisation, for the designation and codification of goods, adopted in an international convention, in force since 01.01.1989. It comprises a six-digit classification of products, general rules for interpretation and classification notes.


Harmonized System (HS): The Harmonized System (HS) of tariff nomenclature is a product classification system used as a basis for the collection of Customs duties and international trade statistics by almost all countries. Use of the HS ensures that a Customs administration produces statistics in exact accord with international classification standards. Currently 179 countries and Customs or Economic Unions (including 104 Contracting Parties to the HS Convention), representing about 98% of world trade, use the Harmonized System. It is therefore one of the most important instruments in world trade.


Harmonized Tariff Schedule (HTS): Also known as the harmonized Tariff Schedule of the United States (HTSUS). The US International Trade Commission (Office of Tariff Affairs and Trade Agreements) is responsible for publishing the Harmonized Tariff Schedule of the United States Annotated (HTSA). The HTSA provides the applicable tariff rates and statistical categories for all merchandise imported into the United States; it is based on the international Harmonized System, the global system of nomenclature that is used to describe most traded goods. An organized listing of goods and their duty rates which is used as the basis for classifying imported products and identifying the rates of duty to be charged on them. It is based on the international Harmonized System Convention.The HTS comprises a hierarchical structure for describing all goods in trade for duty, quota, and statistical purposes. This structure is based upon the international Harmonized Commodity Description and Coding System (HS), administered by the World Customs Organization in Brussels; the 4- and 6-digit HS product categories are subdivided into 8-digit unique US rate lines and 10-digit non-legal statistical reporting categories. Classification of goods in this system must be done in accordance with the General and Additional US Rules of Interpretation, starting at the 4-digit heading level to find the most specific provision and then moving to the subordinate categories.

Terms used in  business such as Hawthorne Effect,Heatseeker,Hedge Fund,Hedging Tools,High Context Culture,High Net Worth etc

Harvesting - A term used when a product is still being sold, although it is no longer being invested in, prior to being withdrawn from the market.


Hashtag - A type of tag (here a prefix used with a word/term/reference/etc via electronic keypads, computing, smartphones, etc) in the social networking website Twitter and similar short messaging systems, so that a word preceded by the hash symbol (#) may be found subsequently or otherwise organized, analyzed, displayed, etc. The symbol is generally called the pound sign in the US, since it is used commonly instead of the traditional British £ symbol in referring to sterling currency.


Hawthorne Effect - Specifically the inclination of a group of workers to change their behaviour positively because they were being studied, irrespective of whether they were subjected to 'positive' or 'negative' conditions. First observed in studies by Elton Mayo at the Western Electric plant in Chicago, beginning 1928. The Hawthorne Effect basically established that attitude was more influenced by emotional rather than economic factors. See Hawthorne Effect summary.


Headhunt - To find a person who is specialised in a particular job, usually for a senior position in a company, and then persuade them to leave their present employment.


Health And Safety - Concerned with the protection of employees from risks and dangers in the workplace.


Health And Safety At Work Act - HSWA. In Britain, a 1974 act of Parliament which regulates and reinforces the health, safety and welfare of employees in the workplace.


Heatseeker - A person who, without fail, always buys the most up to date version of an existing product as soon as it comes onto the market.


Heavily Indebted Poor Countries Initiative - A major international response to the burdensome external debt held by the world's poorest, most indebted countries. It originated in 1996 as a joint undertaking of the World Bank and the International Monetary Fund (IMF). Also known as the HIPC Initiative.


Hedge Fund - A type of investment fund, which is unregulated and usually very high risk, used by individuals and organisations (not the general public) with large amounts of money to invest.


Hedge fund: a mutual fund that takes considerable risks, including heavy investment in unconventional instruments, in the hope of generating great profits.


Hedge Portfolio - The country-specific hedge portfolio in the International Asset Pricing Model serves as a store of value (like the risk-free asset in the CAPM) as well as a hedge against the currency risk of the market portfolio.


Hedging Tools - Hedging tools are used to reduce the risk of financial loss on an investment.


Hedging Tools: Hedging tools provide a way to protect against the potential currency exchange risks of the market. The frequently used hedging tools for international trade are netting, forward contract, futures contracts and currency options. Regarding exports from the US, it is an agreement with a bank whereby the exporter is guaranteed a definite rate of exchange upon presentation of a specified foreign currency on a predetermined rate.


Hedging: Hedging denotes protecting or insuring. The operations and dealings undertaken by the manufacturers, merchants or speculators to ensure themselves against the future fluctuations of prices are known as hedging.


Hertz - The term "Hertz" is a unit of frequency equal to one cycle per second.


Heuristic/Heuristics - A concept within psychology referring to instinctive thinking based on learned 'rules', habits and tendencies (increasingly understood and defined by experts) which people use to make judgements and decisions. Sometimes heuristic thinking is helpful; other times not. Heuristics are extremely useful in understanding and influencing human behaviour/behavior, especially in groups. More generally the word heuristic describes personal learning and discovery, as distinct from being told or taught or instructed by somebody else. This may involve trial and error, and within a learning or training environment crucially must allow for people to make mistakes, as a method of developing effective ideas and solutions. The word is from Greek, heuriskein, to find. See Nudge theory, within which heuristic thinking is explained and featured strongly.


Hierarchy - See Billing Hierarchy


High Context Culture - A culture in which communication is often implicit and relationships are paramount.


High Cube container / Conteneur de grande capacité :Container that respects ISO standards in length and width but has an unconventional height (9'6" i.e. 2.90m instead of 8' - 2.44m). At the moment, only 40' containers come into this category.


High end: relating to the most expensive, most advanced, or most powerful in a range of things, for example, computers.


High Net Worth - Term which describes a rich individual or family who have investable assets of $1million or more, but this can vary. A person with more than $50million is classed as Ultra High Net Worth. (as at 2009)


High-pressure: a selling technique in which the sales representative attempts to persuade a buyer very forcefully and persistently.


High-withholding-tax Interest Income - In the U.S. tax code, interest income that has been subject to a foreign gross withholding tax of five percent or more.


Hire Purchase - HP. A contract between a buyer and seller in which the buyer takes possession of an item and then pays for it in regular instalments, usually monthly, and does not become the owner of the item until the final payment has been made. Also referred to as 'Buying on the never-never'.


Hire Purchase System:It refers to a system of purchase in which the purchase price is paid by periodical installments. All money being paid till the final installment is regarded as payment for hire. The goods become the property of the buyer only when all the installments are paid.


Hire-purchase - a type of finance contract where a good is purchased through an initial deposit and then rented while the good is paid off in instalments plus interest charges. Once the good is fully paid the ownership of the good transfers to the purchaser. See also Rent to buy.


The above details describes about terms called in business such Harmonised System, Harmonized Tariff Schedule, Hawthorne Effect,Heatseeker,Hedge Fund,Hedging Tools,High Context Culture,High Net Worth,Hire Purchase System 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 business trade below this post.Terms used in trade such as Gross income,Gross National Product,Gross Profit, Guarantee,Guerilla marketing,Gulf Cooperation Council etc

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