Strategic Planning

Strategic planning is long term in nature. Strategic planning is formulated mainly at the top level of management. It has mainly an external focus as it is designed to achieve the organizational objectives in the face of challenges and opportunities.

Paid-Up Shares

Shares are fully paid - up when the full amount has been paid. Sometimes shares are only partly paid - up, the company being able to call for the balance to be paid whenever it requires this additional capital.

Premium

Securities are said to be 'at a premium' when they stand above par on the stock exchange.

Probation

Probation is a period when a new worker is being tested before getting a permanent job.

Pro Forma

An invoice sent to a buyer before the goods are sent, so that payment can be made or business documents can be produced.

Lease

The term used for an agreement in which one agent obtains the right of use of some property owned by another agent for a given period of time in return for an agreed fixed charge (which is generally paid in periodic installments).