The terms used in business such as Operating Income,Operating Expenses,Opinion Leader, Optimize, order,Ordinary Capital etc.
This post explains about terms used in business such as Open Account,Open Cheque, Open Market ,Operating Income,Operating Expenses,Opinion Leader, Optimize, order,Ordinary Capital 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
Open Account - An arrangement between a vendor and buyer in which the vendor allows the buyer to pay at a later date for goods received.
Open and Reform Policy - An economic policy enacted by the Chinese government combining central planning with market-oriented reforms to increase productivity, living standards, and technological quality without exacerbating inflation, unemployment, and budget deficits, with the goal of moving from a centrally-planned economy to a market-based one.
Open Border - A border which allows the flow of unrestricted goods and people between countries.
Open Cheque - Also known as an Uncrossed Cheque. A cheque which does not have to be paid into an account, and can be cashed at the bank of the person who wrote it. Also means a cheque which has been signed but no amount has been filled in.
Open Communication - In business, a situation in which employees have full information about the organisation, and are encouraged to exchange ideas and objectives with management.
Open door policy On Board / Politique de la porte ouverte :A system of importing goods with no or very few restrictions or import duties.
Open Market - A market which operates without restrictions, in which anyone can buy and sell.
Open Market Operations:This refers to the purchase or sale of securities in the market by the central bank on its own initiative to control the volume of credit in the country.
open market: a market that is widely available.
Open Offer - Also known as Entitlement Issue. An offer to existing share holders of a company, which entitles them to purchase new shares at a fixed price, usually lower than the current market price, in order to raise money for the company.
Open offer process (also known as open procurement method or open tender):A procurement method where all interested suppliers may submit an offer in response to an approach to market.
Open Shop - A business or factory which does not require employees to be members of a trade union.
Open Source - Describes computer software for which the original source code is freely accessible to everyone, so that anyone can modify or copy the program without paying a fee.
Open-Book Management - A management technique in a company whereby all the employees are involved in the running of the company by training them in, and giving them access to, financial and operational details.
open-end credit: a form of credit that does not have an upper limit on the amount that can be borrowed or a time limit before repayment is due.
Open-Ended Investment Companies - (OEIC) Limited investment companies which manage mutual investment funds. An OEIC can issue more shares if there is a demand from investors. The fund reduces if investors sell their shares back to the company.
operating cash flow: the amount used to represent the money moving through a company as a result of its operations, as distinct from its purely financial transactions.
operating costs: Expenditures arising out of current business activities. The costs incurred to do business such as salaries, electricity, rental. Also may be called overhead.
Operating Income - The gross earnings of a company minus operating costs, excluding taxes and interest.
Operating Lease - An arrangement in which a business leases equipment, cars, buildings, etc., for a period of time which is less than the expected useful life of the asset.
Operating Expenses: Selling, general, and administrative expenses that are necessary to run the business (Examples include salaries, insurance, advertising, and rent. Any expenses other than cost of sales.)
Operating Income: The amount of profit earned during the normal course of operation
Operating Plan: A written explanation of how one plans on running the business (An operating plan should include a description of the business facility, required operating equipment, supplier and vendor relationships, and needed personnel.)
Operation Process Chart - Used in manufacturing, a chart which shows each stage of a production process, including when materials are needed, how much time is to be allocated for each job, how many people are required to carry out the work, etc.
Operational Efficiency - Market efficiency with respect to how large an influence transactions costs and other market frictions have on the operation of a market.
Opinion Leader - A high-profile, influential public figure, such as a celebrity or business person, whose opinions and tastes are respected and/or copied by the general public.
Opportunism - The practice of exploiting and taking advantage of opportunities which present themselves, with no regard for other people or eventual consequences.
Opportunity Cost - Term which refers to the value or benefit of something which will be lost in order to achieve or pursue something else.
Optimise - To get the most out of something. To use something in the best possible way.
optimize: to allocate such things as resources or capital as efficiently as possible.
option: a contract for the right to buy or sell an asset, typically a commodity, under certain terms.
Order form / Bon de commande :A printed form to be used by a customer requesting goods or a service.
order: a contract made between a customer and a supplier for the supply of a range of goods or services in a determined quantity and quality, at an agreed price, and for delivery at or by a specified time.
Orderly Marketing Agreements - Agreements between two or more governments to hold back the growth of trade for certain products by limiting exports and imposing import quotas.
Ordinary Capital - The amount of capital invested in a company by shareholders.
Ordinary Creditor - A creditor who has no priority or security if a company which owes them money goes bankrupt. Therefore, they will be paid only after other creditors have been paid.
Ordinary Interest - Interest paid which is calculated based on a 360 day year, or 12 months of 30 days.
Ordinary Resolution - A resolution accepted and passed by a company's shareholders by a simple majority, i.e., more than 50%, at a shareholders meeting or by a signed postal resolution which has been sent to the shareholders.
Ordinary Share - Also called Common Stock. A share in a company which entitles the owner to a share in the company's profits, and the right to vote at shareholders meetings.
Organic Growth - Describes when a company develops and expands by increasing output and/or sales through its own activities, rather than by a merger or acquisitions (buying other companies).
Organigram - Also called Organisation Chart. A diagram which shows the structure of a business or organisation, showing connections between departments, jobs, etc.
Organised Labour - Employees who are members of a Trade Union.
The above details describes about terms called in business such as Open Account, Open Cheque, Open Market ,Operating Income,Operating Expenses,Opinion Leader, Optimize, order,Ordinary Capital 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 Off-Market ,Offshore ,Off-the-Grid,Oligopoly , Ombudsman,One-Stop etc.
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