Business Dictionary

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An alphabetical listing of General terms and items.

Salary   Dico Tools
A form of pay given to employees at regular intervals in exchange of the work they have done.

Sales   Dico Tools
The activity of selling a company's products or services, the income generated by this, or the department that deals with selling.

Sales Channel   Dico Tools
A means of distributing products to the marketplace, either directly to the end costumer, or indirectly through intermediaries such as retailers or dealers.

Sales Force   Dico Tools
A group of sales people or sales representatives responsible for the sales of either a single product or the entire range of an organization's products.

Sales Forecast   Dico Tools
A prediction of future sales, based on past sales performance. Sales forecasting takes into account the economic climate, current sales trends, company capacity for production, company policy, and market research.

Sales Network   Dico Tools
The distribution network by which goods and services are sold.

Sales Outlet   Dico Tools
A company's office that deals with customers in a particular region or country

Sales Promotion   Dico Tools
Activities, usually short-term, designed to attract attention to a particular product and to increase its sales using advertising and publicity.

Sales Quota   Dico Tools
A target set for the sales force stating the number and range of products or services that should be sold.

Sales Representative   Dico Tools
A salesperson selling the products or services of a particular organization or manufacturer. Sales representatives are sometimes employed directly by a company as part of the sales force or they may work independently and be employed by contract. Sales reps often represent more than one product line from more than one company and usually work on commission.

Sample   Dico Tools
A limited portion of the whole of a group.

Seasonal Business   Dico Tools
Trade that is affected by seasonal factors, for example, trade in goods such as suntan products or Christmas tress.

Security   Dico Tools
Collateral that is promised to a lender as protection in case the borrower defaults on a loan.

Seed Money   Dico Tools
A usually modest amount of money used to convert an idea into a viable business. Seed money is a form of venture capital.

Self Help   Dico Tools
Self Help, otherwise known as Self Improvement, refers to the acts of an individual to improve himself or herself without assistance from anyone else. The term refers to any measure used to improve mental, physical, financial or spiritual conditions alone or by means of books or other reference materials.

Self-employment   Dico Tools
Being in business on one's own account, either on a freelance basis, or by reason of owning a business. and not being engaged as an employee under a contract of employment.

Self-liquidating   Dico Tools
Providing enough income to pay off the amount borrowed for financing.

Self-Service Retail Sales Method   Dico Tools
Selling from a sales outlet directly to the end user, usually at prices lower than full retail price. There are usually no sales personnel to explain the purpose and value of the product or service.

Service Business   Dico Tools
A retail business that deals in activities for the benefit of others.

Service Charge   Dico Tools
A gratuity usually paid in restaurants and hotels; a fee for any service provided, or additional fee for any enhancements to an existing service.

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Service Goods   Dico Tools
Goods viewed by the consumer as competitive products offering a standard "service" and are basically similar, so they will "shop" to get the best price. This would include such products as lawnmowers, refrigerators, television sets, automobiles, etc.

Service/Product Mix   Dico Tools
This business, while involving both service and product, is distinct in that the quality of the service is often more important than the product received. Examples of this type of service would be: fast food, catering, telephone, etc.

Settlement   Dico Tools
The payment of a debt or charge.

Setup Costs   Dico Tools
The costs associated with making a workstation or equipment available for use.

Share   Dico Tools
One of the equal parts into which the ownership of a corporation is divided. A "share" represents part ownership in a corporation.

Short-term Notes   Dico Tools
Loans that come due in one year or less.

Skimming Pricing Strategy   Dico Tools
If you desire quick cash and have minimal desires for significant market penetration and control, then you set your prices very high (this is sometimes called "skimming").

Social Responsibility   Dico Tools
The Term Social Responsibility refers to the idea that companies and corporations should contribute wealth or resources solely dedicated to the improvement of society as a whole. The principal of social responsibility dictates that these entities should contribute at least a small amount of resources to the general well being of humanity.

Sociology   Dico Tools
Sociology refers to the study of human behavior and society as a whole. Sociology usually incorporates the history and evolution of human behavior, the institutions, structure, development, and organization of human society.

Soft Skills   Dico Tools
Soft Skills: The character traits and interpersonal skills that characterize a person's relationships with other people. In the workplace, soft skills are considered a complement to hard skills, which refer to a person's knowledge and occupational skills. Sociologists may use the term soft skills to describe a person's "EQ" or " Emotional Intelligence Quotient" (as opposed to "IQ"). 

Sole Proprietorship   Dico Tools
Business legal structure in which one individual owns the business.

Specialty Goods   Dico Tools
Goods that appeal to a large segment of the buying public and are considered "special" enough that the consumer will specifically ask for the product. For instance, if you invented a cigarette that tasted good and was also proven to be good for your health, people would probably ask for the "healthy cigarette" (even if they didn't know the name). The type of product is not the issue, but rather whether the product is "special" enough that the consumers will "seek it out."

Stagflation   Dico Tools
Stagflation results when a recession, or economic stagnation, is combined with inflation (decrease in value of the currency).

Stock   Dico Tools
An ownership share in a corporation; another name for a share. Another definition would be accumulated merchandise.

Strategic Relationships   Dico Tools
An agreement between two or more enterprises to conduct specified business processes in a joint manner. Usually related to technology development and/or marketing and distribution efforts.

Straw Buyer   Dico Tools
  Straw Buyer: A person who makes a purchase on behalf of another person. A straw buyer is used when the real buyer cannot complete the transaction for some reason. It is not necessarily illegal to use a straw buyer, except where the transaction involves fraud or purchasing goods for someone who is legally barred from making the purchase themselves.  Straw buying is sometimes used in large purchases, such as buying homes and automobiles, where the real buyer has poor credit and is unable to obtain financing

Subprime Crisis   Dico Tools
Is a 2007 financial crisis that started in the United States of America from the high number of defaulting borrowers with subprime mortgages.

Subprime Lending   Dico Tools
Is a type of lending commonly used in the United States of America by borrowers that would not usually qualify for a regular loan.

Suppliers   Dico Tools
Individuals or businesses that provide resources needed by a company in order to produce goods and services.

Supplies Goods   Dico Tools
Production support products that will not become a part of the purchaser's end product. Examples are drill bits, machine lubricants, wiping rags, etching chemicals, pencils, paper, paper clips, etc.

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Survey   Dico Tools
A research method in which people are asked questions.

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