Take Over |
Obtaining full management control of another firm as a result of purchasing over 50 % of its share capital |
Target Market |
The precise profile of the customers a firm wishes to sell to. |
Taxation |
The way the Government raises money to pay for expenditure such as defence, social services, education etc. Some taxes include income tax (on people's earnings), corporation tax (on firms' profits). |
Tertiary Industry |
Providing a service to any aspect of industry or consumers e.g. financial advice to businesses, doctor for consumers. |
Test Market |
The launch of a new or improved product within a tightly defined area, in order to measure actual sales potential. |
Time Rate |
Is payment for the length of time spent working, rather than the quantity of output achieved. |
Time Series Analysis |
Is the processing of data into sequences of figures over time. |
Trade Credit |
Providing business customers with time to arrange for the payment of goods they have already received. |
Trade Cycle |
The way in which the economy moves from boom to slump in a regular fashion over a period |
Trade Discount |
The percentage off, that tradesmen receive over the general public. |
Trade Union |
An organised group of employees who discuss with the management, pay and conditions, on behalf of their members. |
Trade Union Congress (T.U.C.) |
This organisation represents most trade unions in discussions with employers groups (C.B.I), Government and sorts out disputes between unions. |
Trainee |
An employee who is being trained to undertake a particular role. |
Training |
This involves the training of either new and/or existing employees to improve existing skills or learn new ones |
Transfer Payment |
Is where the government income from one part of society is paid to another part. The best known are pensions and social security payments such as unemployment benefit. |
Trend |
The underlying pattern of growth or decline within a series of data. |
Turnover |
The total sales a business makes during a period of time, usually a year. |