The person who has the highest authority and is in charge of a whole operation, business, etc.

The very highest price paid for a product, service, worker, etc.

A wrongful act, other than a breach of contract, which is not criminal but harmful to another person, against which legal action for damages may be taken.

In business, the costs of manufacturing, overheads, administration, etc. – i.e., the sum of fixed costs and variable costs. In investments, the price paid for a share, security, etc., plus brokerage fees, taxes, interest due to the seller, etc.

TQM. A company management system which seeks to improve the quality of products and services and to improve customer satisfaction by giving everyone in the organisation the responsibility of achieving and keeping high standards.

To make contact, usually managers who want to communicate with their staff.

The buying and selling or exchange of goods and services. The buying and selling of shares on the Stock Market. A skilled occupation such as builder, carpenter, plumber, electrician, etc.

An agreement, usually between countries, to limit or change their policies when trading with one another.

In the UK, a 1968 Act of Parliament which prevents misrepresentation of goods and services to customers by manufacturers, retailers or service providers.

A secret device or formula used by a company in the manufacturing of a product which gives it an advantage over the competition.