A tax payable on gifts over a certain annual value made during the lifetime of the giver.

An agreement in which employees accept a wage reduction or fewer benefits as a gesture of goodwill, usually because of an economic downturn. The employees are often offered wage rises and new benefits at a later date.

A company’s shares, which are very popular with investors, because they have performed well on the stock exchange.

A portmanteau word meaning ‘glamorous camping’, for example staying in a posh serviced yurt (a large Mongolian-style nomadic tent) and eating luxury hamper foods.

An invisible barrier in the workplace which prevents women and minority groups from advancing to positions of leadership in a company, although some do manage to ‘break through’ the glass ceiling.

An imaginary barrier in the workplace which prevents women and minority groups from being employed in other sectors of business or industry.

Combination of Glitter and Literati. Glamorous, rich, famous people, often connected to show business.

A term used to describe the whole world as a single community, connected by electronic communication systems, such as the Internet.

The process of integrating nations, economically and socially, through free trade, international business activities, technology (for example the Internet), etc.

Global Localisation. A term used when an international company adapts its manufacturing methods, products or services to suit local conditions.