Business Dictionary – Q

Qualifying Period

    The length of time an employee must serve in a job before being entitled to various benefits, or being able to make a claim against unfair dismissal.

Quality

    An attribute or level of excellence. The standard of a product, service, etc., as measured against similar products, services, etc. A distinctive characteristic or attribute possessed by someone or something.

Quality Assurance

    QA. A system in which the delivery of a service or the quality of a product is maintained to a high standard, especially by means of attention to every stage of the process.

Qualitative

    Associated with a thing’s quality which cannot be measured, such as feel, image, taste, etc. Describes peoples qualities which cannot be measured, such as knowledge, behaviour, attitude, etc.

Quality Circle

    Originating in Japan, a group of workers in a company who meet regularly to discuss ways in which to improve working conditions for employees and productivity for the company.

Quantitive/Quantitative

    Related to or measured in numbers. Comparison based on quantity rather than quality.

Qualitative Analysis

    The subjective appraisal of a project or investment for which there is no quantifiable data.

Qualitative Research

    Research that focuses on "soft" data, for example, attitude research or focus groups.

Quantity Surveyor

    A professional who works in the construction industry, whose job is to calculate the cost of materials, labour, etc., needed to complete a project.

Quarter Day

    A fixed day of each quarter of the year on which certain payments, such as rents, are due.

Questionnaire

    A form containing a list of research or survey questions for people to answer, so that information can be gathered for analysis.

Quorum

    The minimum number of people who must attend a meeting in order for valid business to be conducted. The term is from the 15th/16th century and the earliest use of English, specifically from the Latin phrase used at the start of commissions for committee members, "quorum vos … unum esse volumus," loosely meaning, "of whom we specify that … be one."

Quota

    An official allocation of something, or a limited amount of people allowed. A fixed amount of something, e.g. sales, which must be reached.

Quoted Company

    A company whose shares are listed on the Stock Exchange.