Meaning & Definition of word "Goodwill"
to
Goodwill
ɡʊdˈwɪl
noun:
- 1. A friendly, helpful, or cooperative feeling or attitude.
- Example: The company's commitment to community service has fostered goodwill among its customers.
- 2. The value of a business's reputation, customer relationships, and brand image, in addition to its tangible assets.
- Example: When they acquired the bakery, they also purchased the goodwill associated with its long-standing customers.
- 3. An agreement that benefits both parties and creates a positive relationship.
- Example: The negotiation was conducted in a spirit of goodwill, ensuring that both sides felt satisfied with the outcome.
Etymology
Middle English, from good + will.
Common Phrases and Expressions
goodwill gesture:
An act intended to show goodwill or friendliness.
goodwill ambassador:
An individual who is an advocate for a cause and represents it positively.
to build goodwill:
To create a positive relationship or reputation.
Related Words
kindness:
The quality of being friendly, generous, and considerate.
benevolence:
The desire to do good to others; goodwill; charitableness.
philanthropy:
The desire to promote the welfare of others, expressed through generous donations.
Slang Meanings of goodwill
Meaning: Positive reputation or vibe.
Example Sentence: The brand has a lot of goodwill with its customers.
Meaning: Friendly feelings between people or groups.
Example Sentence: They built up some goodwill after helping the neighbors with their yard work.