What does "goodwill" mean?

1. (kindness and cooperation) a friendly and helpful feeling toward other people or a desire to help them. 2. (business value) the value of a company's good reputation and its loyal customers, which makes it worth more than just its physical assets. 3. (extra effort at work) the willingness of workers to do more than their basic job description to help a company succeed. 4. (a thrift store) a shop that sells used items to raise money for charity.

How do you use "goodwill"?

In accounting, this is treated as an intangible asset on a balance sheet.

goodwill

US //ˈɡʊdˈwɪɫ// UK //ɡˈʊdwɪl// good·will

1 kindness and cooperation (n.)
B2 Upper Intermediate

a friendly and helpful feeling toward other people or a desire to help them.

a benevolent or kindly disposition toward others, often facilitating cooperation or peace.

Example

The festival was organized as a gesture of goodwill between the two neighboring towns.

Example

The diplomatic mission was intended to foster international goodwill and resolve the long-standing border dispute through peaceful negotiation.
- hostility
- animosity
2 business value (n.)
C1 Advanced Technical Business

the value of a company's good reputation and its loyal customers, which makes it worth more than just its physical assets.

the intangible asset representing the value of a business's reputation, brand, and customer base beyond its physical property.

Example

When he sold the bakery, he charged extra for the goodwill he had built up over twenty years.

Example

The acquisition price significantly exceeded the book value of the company's assets, reflecting the substantial goodwill associated with its market-leading brand.

Usage

In accounting, this is treated as an intangible asset on a balance sheet.
- reputation
- brand equity

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3 extra effort at work (n.)
C1 Advanced Formal

the willingness of workers to do more than their basic job description to help a company succeed.

the voluntary commitment of employees to perform tasks beyond their contractual obligations.

Example

The management relied on the goodwill of the staff to finish the project before the deadline.

Example

Following the pay cuts, the loss of employee goodwill led to a noticeable decline in productivity and workplace morale.
- cooperation
- commitment
- work to rule
4 a thrift store (n.)
B1 Intermediate American English

a shop that sells used items to raise money for charity.

a charitable organization or thrift shop, specifically referring to the North American non-profit entity.

Example

I took my old clothes to the Goodwill so someone else could use them.

Example

She managed to find a vintage designer coat at the local Goodwill for a fraction of its original retail price.

Teacher's tip

While 'goodwill' is a general concept, in the US and Canada it almost always refers to the specific 'Goodwill Industries' stores.
- charity shop
- thrift store

Origin

From Middle English goodwille, good wille (“goodwill”), perhaps from Old English gōdwille (“goodwill”); compare Old English gōdwillende (“well-pleased”); also Scots guidwilly, guidwillie (“displaying goodwill”), equivalent to good + will. Cognate with Scots guidwill (“goodwill”), Middle Low German gūtwille (“goodwill”), Old High German guotwilligi (“goodwill”), Old Danish godvilje (“goodwill”), Icelandic góðvilji, góðvili (“goodwill”), Icelandic góðvild (“goodness”). The sense "thrift shop" is a genericized trademark of a US chain of such shops.