good will

Friendly

Explanation of "Good Will"

Definition: "Good will" is a noun that has a few meanings, but generally, it refers to a friendly feeling or hope that something will succeed. In business, it can also mean the positive reputation a company has, which makes it valuable beyond just its physical assets.

Usage Instructions:

You can use "good will" in both casual conversation and formal writing. It is often used when talking about relationships, business, or helping others.

Examples:

1. General Use:

   • "The community showed good will by helping to rebuild the local school after the storm."

2. Business Use:

   • "The company was sold for a high price because of its good will in the market."

Advanced Usage:

In business contexts, good will refers to the intangible value that a company has built over time, such as customer loyalty, brand reputation, and relationships with clients. This can be important during mergers and acquisitions.

Word Variants:

• Goodwill (one word): This is the more common spelling in business contexts.
• Good-natured: This adjective describes someone who is friendly and kind, similar to good will.

Different Meanings:

1. Friendly disposition: The general kindness and helpfulness towards others.

   • Example: "She always approaches her coworkers with good will."

2. Business context: The value of a company's brand or reputation, separate from its physical assets.

   • Example: "The good will of the brand contributed to its high market value."

Synonyms:

• Kindness
• Friendliness
• Benevolence
• Favor
• Reputation (in business contexts)

Idioms and Phrasal Verbs:

While "good will" itself isn't commonly used in idioms, you can use phrases that convey a similar meaning: - "Go the extra mile": To make an extra effort to help someone or something. - Example: "She always goes the extra mile to ensure her team feels supported."

Summary:

"Good will" is an important concept in both personal interactions and the business world. It represents a friendly attitude and the positive reputation that can enhance relationships and business value.

Academic

Noun

1. the friendly hope that something will succeed
2. (accounting) an intangible asset valued according to the advantage or reputation a business has acquired (over and above its tangible assets)
3. a disposition to kindness and compassion
   • the victor's grace in treating the vanquished

Synonyms

• goodwill
• grace