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Home Dictionary G Gentlemen's Agreements Gentlemen’s agreements are informal, unwritten agreements between two parties to complete a transaction or other obligation. These agreements are not legally binding, but are instead supported by honesty, social norms, and peer pressure of the members and their social networks. Despite their informal status, gentleman’s agreements have been common in business and commerce since time immemorial. Arm's Length Transaction
September 25, 2022 An arm’s length transaction is a business transaction involving parties acting independently of each other. Boil the Ocean
September 25, 2022 “Boil the ocean” means to take on an impossible task or to make a task unnecessarily difficult. Chinese Wall
September 25, 2022 A Chinese wall is a business term used to describe a virtual barrier erected to block the exchange of information between departments of a company. Force Majeure
September 25, 2022 Force majeure - a clause that is included in contracts to remove liability for unforeseen and inevitable disasters that violate the expected course of events and prevent the participants from fulfilling their obligations. Gardening Leave
September 25, 2022 Garden leave is a transitional period for employees who give or receive notice of termination, leaving them on the payroll but away from the workplace. Gazelle Company
September 25, 2022 A gazelle company is a young, high-growth enterprise with a base income of at least $100,000 and steady revenue growth for four years. Golden Parachute
September 25, 2022 Golden parachutes are lucrative severance payments written into the contracts of top managers that compensate them when the contract is terminated. Good Faith Money
September 25, 2022 The bona fide money acts as collateral to complete the purchase. Groupthink
September 25, 2022 Groupthink is a phenomenon in which people lose sight of potential problems in the pursuit of consensus thinking. Haggle
September 25, 2022 Bargaining means to negotiate the price of a good or service until a mutually agreed price is determined.
Bargaining is a method in which two or more parties make consecutive offers and counter offers until an agreement is reached. Judo Business Strategy
September 25, 2022 Judo’s business strategy uses the company’s smaller size as an advantage over larger competitors. Middleman
September 25, 2022 An intermediary is a broker, intermediary or intermediary in a process or transaction. Modus Operandi
September 25, 2022 The term “modus operandi” is a Latin term that describes the habitual mode of action of a person or group, which is a discernible pattern. One Belt One Road (OBOR)
September 25, 2022 OBOR is a project aimed at improving communication and cooperation between several countries in Asia, Africa and Europe. One-Stop Shop
September 25, 2022 A department store is a business or office that offers multiple services or products to customers. Over and Short
September 25, 2022 In accounting, over and short - or “cash in excess of short” - implies a discrepancy between a firm’s reporting figures and its audit figures. Peter Principle
September 25, 2022 The Peter Principle states that employees rise up the firm’s hierarchy through promotion until they reach a level of appropriate incompetence. Revolving Door
September 25, 2022 The revolving door is the movement of high-ranking employees from jobs in the public sector to jobs in the private sector and vice versa. Rule of Thumb
September 25, 2022 A rule of thumb is an informal rule of thumb that contains simplified rules that apply in most situations. Silo Mentality
September 25, 2022 Separation is the unwillingness to share information or knowledge between employees or between different departments of the company. Turnkey Business
September 25, 2022 A turnkey business is a commercial activity that is ready to be used as it is, at the time of its acquisition by a new owner or owner. Warm Calling
September 25, 2022 A warm call is establishing contact with a potential client with whom you or your company had some previous contact. Weak Sister
September 25, 2022 “Weak sister” is a slang term for an unreliable or weak link that threatens to undermine the entire system.