Glossary of Business Terms – “T”



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Take-home Pay – The amount of pay an employee receives after all the deductions, such as income tax, social security, or pension, contributions.

Takeover – The acquisition of one company by another.

Talent – People with exceptional abilities, especially a company’s most valued employees.

Target market – The specific individuals, distinguished by socio-economic, demographic and interest characteristics, who are the most likely potential customers for the goods and services of a business.

Target marketing – Selecting and developing a number of offerings to meet the needs of a number of specific market segments.

Tariff – A government duty imposed on imports or exports to stimulate or dampen economic activity.

Tax – A governmental charge that is not a price for a good or service

Taxable – Subject to tax.

Tax Bracket – A range of income levels subject to marginal tax at the same rate.

Tax Incentive – A tax reduction afforded to people for particular purposes, for example, sending their children to college

Tax Refund – An amount that a government gives back to a taxpayer who has paid more taxes than were due.

Tax Return – An official form on which a company or individual enters details of income and expenses, used to assess tax liability.

Tax shelter – A financial arrangement designed to reduce tax liability.

Tax subsidy –  A tax reduction that a government gives a business for a particular purpose, usually to create jobs.

T-Bill – A debt instrument of the U.S. government. (Treasury Bill)

Team Player – Somebody who works well within a team.

Teamwork – Collaboration by a group of people to achieve a common purpose.

Telebanking – Electronic banking carried out by using a telephone line to communicate with a bank.

Telecommute – To work without leaving your home by using telephone lines to carry data between your home and your employer’s place of business.

Telemarketing – Marketing goods or services directly to the consumer via the telephone.

Telephone Survey – A research technique in which members of the public are asked a series of questions on the telephone

Tender – To make or submit a bid to undertake work or supply goods at a stated price. A tender is usually submitted in response to an invitation to bid for a work contract in competition with other suppliers.

Terms of Sale – The conditions concerning payment for a purchase.

Terms of Trade – A ratio to determine whether the conditions under which a country conducts its trade are favorable or unfavorable

Test Marketing – The use of a small-scale version of a marketing plan, usually in a restricted area or with a small group, to test marketing strategy for a new product.

Think Tank – An organization or group of experts researching and advising on issues of society, science, technology, industry, or business.

Trade Barrier – A condition imposed by a government to limit free exchange of goods internationally.

Trade Credit – Permission to buy from suppliers on open account.

Trade-fair – A commercial exhibition designed to bring together buyers and sellers from a particular market sector.

Trademark – An identifiable mark on a product that may be a symbol, words, or both, that connects the product to the trader or producer of that product.

Turnkey Contract – Immediately. An agreement in which a contractor designs, constructs, and manages a project until it is ready to be handed over to the client and operation can begin he conditions concerning payment for a purchase