Management Glossary

  Terms beginning with v
vacation carryover
Vacation time that was not in one year and is allowed to be taken in a succeeding year, adding to the total allowable vacation time in the succeeding year. Some employers do not allow employees to carry over any vacation time (i.e., "use it or lose it"). Others set a limit on how much time can be carried over. Still other employers do not place any limits on vacation carryover.
Contributed by: Managerwise Staff

variable cost
A cost that is directly associated with the production and sale of an individual unit product or service. Thus, variable costs varie in direct proportion to the number of units produced and sold. This contrast with fixed costs, which do not vary with volume.
Contributed by: ManagerWise Staff
See: fixed cost

variable interest rate
An interest rate that the lender can adjust to reflect current market interest rates at preset intervals (possibly, but not necessarily, monthly or annually) over the term of the loan. The intervals at which the interest rate can be reset are set out in the loan agreement.
Contributed by: Managerwise Staff


Venture Capital; Venture Capitalist

Contributed by: ManagerWise staff
See: venture capital

venture capital
Funds invested in a firm in the startup and growth phases. There may be several rounds of venture capital funding before a company first sells its stock to the general public in an initial public offering (IPO)
Contributed by: ManagerWise Staff
See: intial public offering

vertical integration
The combining of multiple stages of production within a single company. For example, all other things being equal, a construction company that manufactures its own cement would be more vertically integrated than one that buys its cement from an outside supplier.
Contributed by: ManagerWise Staff
See: horizontal integration


Having undisputed rights to something and those rights can no longer be revoked by the party that granted the rights.

For example, an employment contract may reward an employee with some number of shares of the company's stock, but only after he or she has been employed by the company for a certain number of years. Before that time is up those stock shares are not vested and the employee does not yet legally own them and cannot sell them. After he or she has completed the specified number of years of employment the shares become vested and, even if the share certificate has not yet been issued, the shares are vested and the employee's right to them cannot be legally revoked by the company unless there are some other conditions in the contract under which it might do so.

Contributed by: Managerwise Staff

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