Meaning of “allocation” in the English Dictionary

"allocation" in American English

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allocationnoun [ C/U ]

us /ˌæl·əˈkeɪ·ʃən/

the act or process of giving out parts of a whole, or a part given out in this way:

[ U ] The allocation of space in this office is unusual.

(Definition of “allocation” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"allocation" in Business English

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uk /ˌæləˈkeɪʃən/ us

[ U ] the act of deciding officially which person, company, area of business, etc. something should be given to, or what share of a total amount of something such as money or time should be given to someone to use in a particular way:

resource/time allocation
The company is holding a review into the optimal allocation of a salesperson's time.
allocation of capital/funds/resources The move will lead to more efficient pricing and allocation of capital.

[ C ] the share of a total amount of something given to a person, company, etc.:

The program is financed with a $5 billion annual allocation.

[ C or U ] also allotment STOCK MARKET the number of new shares that are offered to each possible buyer, or the process of offering them:

The rules on performance-related share allocations are extremely complex.
Each individual investor got an allocation of 294 shares.

[ C or U ] ACCOUNTING a cost or an amount that is put in a particular place in a company's accounts, or the process of putting it there

(Definition of “allocation” from the Cambridge Business English Dictionary © Cambridge University Press)