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297
morale n [U] the level of confidence and positive
feelings among a group of people who work together
mortgage n [C] a legal arrangement where you
borrow money from a financial institution in order to
buy land or a house, and you pay back the money over
a period of years
motivate v [T]
1) to encourage someone and make them want to
achieve something and be willing to work hard in or-
der to doit
2) to provide the reason why someone does some-
thing – motivating adj
motivated adj very keen to do something or
achieve something, especially because you find it in-
teresting or exciting
motivation n
1) [U] eagerness and willingness to do something
without needing to be told or forced to do it
2) [C] the reason why you want to do something
nepotism n [U] the practice of giving jobs to
members of your family when you are in a position of
power
niche market n [C] a market for a product or
service, perhaps an expensive or unusual one that
does not have many buyers but that may be profitable
for companies who sell it
offset v [T] if one cost offsets another it has the
effect of reducing or balancing it, so that the financial
situation remains the same
open-plan office n [C] open-plan offices do not
have walls dividing them into separate rooms
optimize also -ise BrE v [T] to make the best
possible use of something or to do something in the
best possible way
outsource v [T] if a company outsources its
work, it employs another company to do it
overtime n [U]
1) time that you spend working in your job in ad-
dition to your normal working hours
2) time that a factory, office etc is operating in
addition to its normal hours
3) the money that you are paid for working more
hours than usual
panacea n [C] something that people think will
help make everything better
partner n [C]
1) a company that works with another company
in a particular activity, or invests in the same activity
2) someone who starts a new business with
someone else by investing in it
3) a member of certain types of business or pro-
fessional groups, for example partnerships of lawyers,
architects etc
4) also economic partner a country that invests
in another or is invested in by another, or that trades
with another
5) also trade partner, trading partner one
country that trades with another
partnership n
1) [C] a relationship between two people, organi-
zations, or countries that work together
2) [U] the situation of working together in busi-
ness
3) [C] a business organization made up of a group
of accountants, lawyers etc who work together, or of a
group of investors
patent
1
n [C] an legal document giving a person
or company the right to make or sell a new invention,
product, or method of doing something and stating
that no other person or company is allowed to do this
patent
2
v [T] to obtain a patent, protecting the
rights to make or sell a new invention, product, or
method of doing something patented adj [only before
a noun]
peak
1
n [C] the time when prices, shares etc have
reached their highest point or level
peak
2
adj
1) peak level/price/rate etc the highest level, etc
something reaches
2) peak time/period/hours/season the time etc
when the greatest number of people are doing the
same thing, using the same service etc
peak
3
v [I] to reach the highest point or level
penny-pinching adj not liking to spend money
perk n [C] something in addition to money that
you get for doing your job, for example a car
phone rage [U] angry behaviour on the telephone
by people who are not satisfied with the service they
are receiving etc
pioneer n [C] the first person or organization to
do something that other people and organizations will
later develop or continue to do – pioneer v [T], pio-
neering adj
plummet v [I,T] to suddenly and quickly go
down in value or amount – plummet n [C]
point-of-sale advertising n [U] advertising for a
product in places where it is sold
portal n [C] a system for connecting a computer
to another network, especially the Internet
positioning n [U] the way that people think about
a product in relation to the company's other products
or to competing products
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