Category: O

Money borrowed without security or contributed my minority shareholders. Acronym is pronounced ?opium?, to reflect the power it can have over people who forget it must be paid back.

Problem solving that is not confined by self-imposed limits or convention. Free and innovative thinking results in the creation of unique solutions and ideas.

An estimation of how long it will take a company to spend the revenue generated during an accounting period.

All premiums that should have been paid, but have not been.

When production capacity exceeds the demand for a product.

Ongoing expenses incurred by the day-to-day running of a business. Includes utilities, rent and subscriptions.

An outer container that protects one or more inner containers.

Known as ?time and a half?, refers to the fact that employees earn 50% more than their usual hourly rate when working overtime.

A right of ownership shared by multiple entities. Upon the death of one owner, his or her right passes to an heir or successor (not necessarily the other owners).

Quantification or the possibility of an occurrence based on thorough analysis and measurements as opposed to subjective evaluation.

The risk that is undertaken on the company’s use of a product that is obsolete.It significantly affects their business and revenues. Technology companies are the most susceptible to this risk.

The potential risks to life or functioning of an individual that is inherently associated with his occupation or work environment. Some of these hazards lead to the contraction of a disease or

A compound that is the liquid state and is highly flammable that is used to process petroleum. It is an important component used to determine the antiknocking properties of gasoline.

The non keeping of an official record for a payment or receipt of money

An executive department under the U.S government that handles matter related to the international trade policy. The USTR recommends trade policies and takes part in trade negotiations by working closely with the

A computer that is not electronically connected to another computer or network even though the physical connection is still present. Offline work protects the manipulation of sensitive work by other users on

Manufacturing or assembly at an offshore facility due its relatively cheaper labor and raw material costs. The finished goods are then imported into the manufacturer’s home country.

The gap between the potential and actual GDP of a country. If the actual output is higher, the gap is referred to as an inflationary gap. If it is lower, it is

A building that contains a number of businesses on a rental basis.

When a contract?s terms cost more to satisfy than the projected economic benefits, it may be described as onerous. A lease contract might be described in this way.