goodwill

/gud'wil/

Friendly

Explanation of "Goodwill"

Definition: "Goodwill" is a noun that describes a feeling of kindness and friendliness. It can also refer to the positive reputation a person or business has built up over time. In business, goodwill is considered an intangible asset, which means it is valuable but cannot be touched or seen, like a physical object.

Advanced Usage:

In business, "goodwill" can refer to the value of a company's brand, customer relationships, and employee morale which can contribute to its success. For example, when a company is sold, the price might include goodwill, reflecting its positive reputation and customer loyalty.

Word Variants:

• Goodwill (noun): The main form.
• Goodwills (plural noun): Used when referring to multiple instances or types of goodwill.

Different Meanings:

1. Personal Kindness: Refers to a person's friendly attitude or helpfulness.
2. Business Asset: In accounting, it refers to the value of a company’s brand and customer relationships beyond its physical assets.

Synonyms:

• Kindness
• Friendliness
• Generosity
• Favor
• Reputation (in the business context)

Idioms:

• "Extend goodwill": To show kindness or a friendly attitude towards someone or something.
  • Example: "The organization extended goodwill to the local community by sponsoring events."

Phrasal Verbs:

There are no specific phrasal verbs that use "goodwill," but you can use related phrases like "build goodwill," which means to create a positive reputation or friendly relations.

Summary:

"Goodwill" is an important word that can be used to describe kindness in personal relationships and the positive reputation of businesses.

Academic

Noun

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

Synonyms

• grace
• good will