Business Dictionary – J

Jawboning

    Using influence, especially the influence of a public position or office, to try to affect the decisions of leaders in the business world.

Job Costing

    A system of calculating the cost of each individual job or project carried out by a business, includes time, labour, materials, etc.

Job Lock

    A situation in which a person feels they cannot leave their job because they are afraid of losing benefits connected to the job.

Job Protected Leave

    Allows people to officially take time off from their work for a longer period without the fear of losing their job, often because of illness or pregnancy.

Job Sharing

    A work schedule in which two or more people voluntary do one full-time job, sharing the work and dividing the hours between them.

Joint and Several Liability

    A legal liability that applies to a group of individuals as a whole and each member individually, so that if one member does not meet his or her liability, the shortfall is the shared responsibility of the others. Most guarantees given by two or more individuals to secure borrowing are joint and several. It is a typical feature of most partnership agreements.

Joint Stock Company

    A company or organisation owned by joint shareholders, which is a type of corporation and partnership. The stockholders run the company and share its profits and debts.

Joint Venture

    A business project in which two or more independent companies collaborate and share the risks and rewards.

Junk Bond

    Also known as High Yield Bonds. A high risk bond with a high interest rate, often used by companies to raise finances in order to take over other companies.

Jurisdiction

    Power or right of a legal or political agency to exercise its authority over a person, subject matter, or territory. Jurisdiction over a person relates to the authority to try him or her as a defendant. Jurisdiction over a subject matter relates to authority derived from der a particular case.

Just-In-Time (JIT)

    A manufacturing system in which materials and components are delivered immediately before they are required, in order to increase efficiency, reduce waste and minimise storage costs.