As they say, words matter. Too many people in public life are suspicious – and perhaps ignorant – of business, and slant their commentary to demonise the behaviour and motives of wealth creators. The credit crunch and recession have exacerbated these attitudes. In the media, in politics, in unions and in charities there can be a knee-jerk dislike of the basic concepts that underpin commerce.

In an attempt to redress the balance, I have chosen a few key phrases to show how their meaning can be interpreted in different ways.

First, I offer my definition; then I hazard a guess at how seemingly anti-business entities in the UK such as The Guardian, Trades Union Congress, Labour party or even the BBC might really see these crucial words and phrases.