undertaking /ˈʌndəˌteɪkɪŋ/ noun [C]
› a job, task, or piece of work that someone has decided or agreed to do: a big/enormous/major undertaking This is an enormous and most ambitious undertaking.
› formal a formal promise: an undertaking to do sth Many banks have given undertakings to lend more.an undertaking that Both companies gave an undertaking that they will stop discounting.
› formal a business: IOC is India's largest commercial undertaking. 90% of the investment portfolio comprised investment in the securities of the associated undertakings.