concede

If you concede something it means you admit it is true.

Hiroshi conceded that the company’s Engineering division was underperforming and could improve.

The noun of concede is concession.

The management had to make concessions to the union to end the strike, which was damaging the company’s profits.

Note: in Business English a concession is a company that operates inside another company, e.g. a retail concession. This is basically a separate shop or counter inside a larger store.

Clytemnestra Sharpe, the exclusive fashion and perfume label, has a concession inside the luxury department store Gilbert & Sons.

 

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