- To convert itself: To change from one thing to
other
- To serve needs: to satisfy people’s
requirement, or desires
- Labour input: manual work
- To stumble on: to discover something by
accident
- To be dubious: to be uncertain
- Seemingly: Apparently
- Computer program: software
- Work, time, and energy: effort
- Computer and other machines: hardware
- Young workers still learning their jobs: Trainees
- Knowledge and skill: expertise
- Levels or strata: Layer
- To make certain that something is true: verify
- Corrected or slightly changed: amended
- Downfall: collapse or failure
- Autonomous: independent to take a decision without
consulting higher authority
- Decentralization: dividing the organization into
different decision-making units which are not centrally controlled
- Function: the specific activity in a company
- Hierarchy: the system of authority in a company one
above other
- Line authority: the power to give instruction to
someone who is below in the chain of command
- Report to: to be responsible for someone, and to take
instruction from him or her
- Subordinate: people working under someone else in the
hierarchy
- Industrial belt: an area with a lot of industrial
companies, around the edge of cities
- Wealth: the product of economic activities
- Productivity: the amount of output produced with the
given set of inputs
- Corporate ethos: the company’s way of working and thinking
- Collaboration: working together and sharing ideas
- Insulated or isolated: alone, place in a position away
from others
- Fragmentation: breaking something up into pieces
- Motivate: to inspire, to induce, and to provide an incentive to someone to do something
- Employee: a person employed by someone else, working
for money
- Labour relation: the relationship between employee and
employer, manager and workers, and management and unions
- Responsibility: have control of something as a part of
job
- Wages: money paid to the manual worker
- Salary: a fix regular payment made by an employer for
professional or office work
- Benefit or perk: an advantage that comes from job apart
from wage or salary
- Promotion: to be raised in a higher rank or job
- Job security: knowing that there is little risk of
losing job
- Skill: having a particular ability acquired by training
- Rationality: use of reasoning rather than emotions or
belief
- Intuition:
understanding without consciously using reason
- Status: respect, prestige, and importance given to a
someone
- Seniority: having a higher position because one is
older
- Offend: to have hurt feeling because someone is being
disrespectful
- Reward: money or something else given in recognition of
good work
- Bonus: additional money is given for better work or
increased productivity
- Humiliation: the feeling of shame or loss of dignity
- Resign: to give up one’s position
- Ethically: according to accepted moral principles
- Collective
bargaining: negotiation between unions and employers about their members’
wages and working condition
- A strike: a stoppage of work, as a protest against
working condition, low pay, and so on
- A go-slow: a deliberate reduction in the rate of
production, as a protest
- Working-to-rule: deliberately obeying every regulation
in an organization, which severely disrupts normal operations
- Industrial action: a general term for strikes, go
slows, work-to-rule, and so on
- To picket: to protest outside a workplace or to try to persuade others not
to enter during a strike
- Subcontractor: any a company that provides goods or services for another one
- Component: any of
the pieces or parts that make up a product, machine, etc.
- Outsourcing:
buying product or processed material from another company rather than
manufacturing them
- Capacity: the maximum rate of output that can be achieved from a production process
- Plant: the
building, machines, equipment and other facilities used in production
process
- Inventory: the
stock of any items used in an organization
- Lead time: time
needed to perform an activity
- Credit facility:
the possibility of paying for a product over an extended period
- Warranty: a
promise by a manufacturer to repair or replace the product during a
certain period of time
- Shelf space: a
surface in a store on which goods are displayed
- Brand switcher:
consumer who buy various competing products rather than being loyal to
particular brand
- Profitability: the
extend to which an activity provides financial gain
- Line stretching:
expanding the existing range of products by adding new products having new
features
- Market share: the
sales of an organization shown in the percentage of total sales in the
market
- Image: the set of
beliefs that the public at large holds of an organization
- Niches: A small, specialized but profitable segment of
market
- Distribution Channel: the path from which the goods and
services move from producer to the consumer
- To lunch new product: to introduce a new product onto
the market
- Market opportunities: possibility of filling
unsatisfied needs in sectors in which a company can profitably produce
goods or services
- Market research: collecting, analysisng, and reporting
data relevant to a specific marketing situation
- Market segmentation:
dividing a market into distinct groups of buyers who have different
requirement or buying habit
- Packaging: wrapper or container on which product are
sold
- Product concept: an idea for a new product, which is
tested with target consumers before the actual product is developed
- Product features: attribute or characteristics of
product: quality, price, and reliability
- Sales reps: someone who contacts existing or potential
consumer, and persuades them to buy
- Word of mouth advertisement: free advertising, when
satisfied customers recommend products to their friends
- Prestige advertisement: the advertisement which
mentions company’s name but not specific product
- Advertising agency: the company that handles
advertisement for clients
- Advertising account: a contract with a company to
produce advertisement
- Budget: an amount of money that a company plan to spend
in developing advertisement
- Brief: the statement of objective of an advertising
campaign that a client works out with an advertising agency
- Advertising campaign: a coordinated series of
advertisement that have same idea
- Target audience: a particular group of people,
identified as the intended recipient of advertisement.
- Media planner:
- Threshold effect: the cumulative effect of the
advertising campaign that brings about customers recognition of brand or
product in the form of significant increase in sales
- Comparative priority:
- Counter-cyclical advertisement:
- Book keeping: writing down the details of
transactions
- Accounting: Keeping financial records,
recording income and expenditure, valuing assets and liabilities and so on
- Managerial accounting: Keeping budget and other
financial report necessary for management
- Cost accounting: working out the unit cost of
products, including materials, labour and all other expenses
- Tax accounting: calculating an individual’s or
a company’s liability for tax
- Auditing: inspection and evaluation of
account by a second set of accountants
- Creative accounting: using all available accounting
procedures and tricks to disguise the true financial position of a company
100. Overdraft: an arrangement by which a customer can withdraw more from bank
account than has been deposited in it, up to an agreed limit; interest on the
debt is calculated daily
101. Credit Card: a card which guarantees payment for goods and services purchased
by the cardholder, who pays bank or finance company at a later date
102. Cash dispenser or ATM: A computerized machine that allows bank
customers to withdraw money, checks their balances and so on
103. Loan: A fixed sum of money on which interest is paid, lent for a fied
perios of time and usually for a specific period of time
104. Standing order or direct debit: an instruction to a bank to pay fixed sums of
money to certain people or organization at stated times
105. Mortgage: Loan, usually to buy property, which serves as a security for the
loan
106. Cash Card: a plastic card issued to bank customers for use in cash
dispensers
107. Home banking: doing banking transaction by telephone or from one’s own personal
computer
108. Current account or checking account: one that generally pays
little or no interest but allows holders to withdraw his or her cash without
any restriction
109. Deposit account or time or notice account: one that pays interest,
but usually cannot be used for paying cheques and on, which notice is required
to withdraw money
110. Deposit: To place money in a bank
111. Foreign currency: the money used in countries other than one’s
own
112. Yield: how much money a loan pays, expressed as a percentage
113. Liquidity: Available cash and how easily other asset can be turned into cash
114. Maturity: the date when a loan becomes repayable
115. Underwrite: a guarantee to buy all new shares that a company issues, if thet
cannot be sold in the market
116. Take over: when a company buys or acquires another one
117. Merger: When a company combines with another one
118. Stockbroking: Buying and selling of stocks for clients
119. Portfolio management: taking care of all a clients’ investment
120. Deregulation: Ending or relaxing of legal restriction
121. Conglomerate: a group of companies, operating in different fields, that have
joined together
122. Blue chip: a company considered to be without risk
123. Solvency: Ability to pay liabilities when they become due
124. Collateral: anything that acts as a security for the loan
125. Liability: Having a responsibility or obligation to do something
126. Creditor: a person or organization to whom money is owned
127. Bankrupt: to be insolvency
128. Asset: everything of value owned by a business that can be used to
produce goods, pay debts
129. To liquidate: to sell one’s possession of a bankrupt business
130. To put up capital: to provide money for a company
131. Venture capital: to invest in a risky new business
132. Founder: People who begin a new company
133. Premises: a place where company does a business
134. Underwrite: a guarantee to buy all the share if no one agrees to buy
135. Dividend: the proportion of the annual profits of a limited company, paid
to shareholders
136. Mutual Fund: a company that spreads investor’s capital over a variety of
securities
137. Portfolio: Investors selection of securities
138. Stockbroker: a person who can advise investors and buy and sell shares for
them
139. Defensive stock: a stock in an industry not affected by cyclical
trends that offers a good return but only a limited chance of rise or decline
in price
140. Growth stock: a stock, which usually has a high purchasing price and a low
current rate of return, that is expected to appreciate in capital value
141. Market maker: a wholesaler in stock and shares who deals with broker
142. Institutional Investors: Financial organizations which owns most of the
share of leading company
143. Inside share dealing: the use of information not known to the public
to make profit out of buying or selling shares
144. Equity financing: issuing shares
145. Debt financing: issue bond
146. Bearer certificate: a security whose owner is not registered with
the issuer
147. Liquid: easily sold
148. Par: nominal or face value
149. Coupon: the rate of interest paid by the fixed interest security
150. Yield: the rate of income an investor receives taking into account a
security’s current price
151. Market share: a company’s sales expressed in the percentage of total market
sales
152. Promotion: short-term tactics designed to stimulate stronger sales of
product
153. Monopoly: a situation where there is only one seller of a product
154. Competition: Companies offering similar goods or services to the same set of
customers
155. Slogan: a short and easily memorized phrase used in advertisement
156. Market segmentation: the division of market into submarket according
to the buying habit of different group of potential customers
157. Niches: a small and specific market segment
158. Differential advantage: a factor which makes you superior to
competitors in a certain respect
159. Turnover: a business’s total sales revenue
160. Recession: a period during which an economy is working below its potential
161. To innovate: to design new product and bringing them to market
162. To diversify: to expand into new field
163. To merge: to combine, unite, amalgamate and integrate with other firms
164. A raid: to buy other company’s share on stock exchange, hoping to
persuade other stockholders to sell to take control over company
165. A turnover bid:
166. Horizontal integration: to merge with other firms producing similar
products
167. Vertical Integration: to merge with other firms at other stage of
production or sale of product
168. Backward integration: to merger with firms’ own supplier
169. Forward integration: to merge with firm’s own market outlet
170. Synergy: the combined production that is greater than the sum of separate
parts
171. Charities: the organization or institution that provide help to people in
need
172. Legitimacy: acceptability, according to law or public opinion
173. Welfare: the state of general welfare
174. Threating: menacing
175. Vitality: the state of being strong
176. Free enterprise: an economic system in which anyone can raise
capital, form business, and offer goods or services
177. Conforming: to comply with rules
178. Embodied: expressed, given in material form
179. Proponents: supporters, people who argue in favour of something
180. Job insecurity: the fear of losing job
181. Tenure: the period of holding a job
182. Employability: the extend to which a person has skill that employer wants
183. Downsizing: decreasing the number of permanent workers
184. Agency employment: the temporary job in a company, arranged by an
employment agencies
185. Core: the central part of something
186. Rhetoric: language to persuade people to believe something
187. Received wisdom: generally held belief
188. Obvious: evident
189. Inexpensive: less-cost
190. Inconsistent with: at odds with
191. Bad health: illness
192. Remembered: borne to mind
193. Poor or unemployed people: underclass
194. Rich or wealthy people: affluent
195. Success: achieve
196. Unwillingly: reluctantly
197. Global: planetary
198. Costly: expensive
199. Disposed of: used or consumed
200. On our behalf: done for us
201. A physician: a medical doctor
202. Ailment: illness
203. To resort to force: to use violence
204. To coerce: to make someone to do something against their will
205. A mortician: a person who arranges funeral
206. A plumber: a person who fixes water pipes
207. A host of: a large number of
208. Depreciation: reducing the value of fixed asset, by charging it against profit
209. Disincentive: something which discourages an action
210. Regressive tax: the tax that is proportionally higher to the
people with lower income
211. Consumption: spending money to buy things rather than save it
212. Self-employed: working for yourself, being your own boss
213. National insurance: tax on income that pays for sickness benefit,
unemployment benefit, and old age pension
214. Tax shelter: the way to delay the payment of tax to a later time
215. Tax deduction: an adjective describing expenditures that can be taken away from
taxable income or profit
216. Tax haven: a country offering very low tax rate to foreign businesses
217. To peg a currency against something means to: fix its value in
relation to it.
218. A clean floating exchange rate: is determined by supply and demand
219. Exchange control used to limit: the amount of country’s amount that residents
were able to change into foreign currencies
220. Speculators buy or sell currencies in order to: make profit by making
capital gains or by investing at higher interest rates
221. Market forces means: the determination of price by supply and demand
222. Hedging means: trying to insure in unfavorable price movements by the way of
future contracts
223. Adjust: to make changes to something
224. Convert: to change something into something else
225. Abolish: to end something permanently
226. Suspend: to end something temporarily
227. Fluctuate: to go up or down
228. Diverse: to move away from what is considered normal
229. Expectation: belief that will happen in future
230. Rent: money paid for the use of the house to somebody else
231. Output: the amount of something produced by a company, or country
232. Investment: spending on new machines or factories
233. Industrialist: owners or managers of manufacturing companies
234. Consumption: spending on goods and services
235. Layout: to dismiss employees
236. Demography: concerning with the birth, death, migration and so on
237. Austerity: an absence of luxury or comfort
238. Supply: the willingness and ability to offer goods and services for sales
239. Demand: the willingness and ability to purchase goods and services
240. Market forces: demand and supply
241. Equilibrium: the state of balance
242. Fiscal policy: government measures concerning taxation, public expenditure and
so on
243. Monetary policy: government or central bank measures concerning
the rate of growth of the money supply
244. Trade in good: merchandise trade
245. Trade in service: invisible import and export
246. Direct exchange of good without the use of money: barter system
247. The difference between the country’s total earning from export and
total expenditure on import:
248. The difference between what a country receives and pays for its
exports and import of goods: Balance of trade
249. The situation in which country is completely self-sufficient and
has no foreign trade: autarky
250. The positive balance of payment or trade: surplus
251. A negative balance of trade or payment: Deficit
252. Selling goods abroad at cost price: dumping
253. Imposing trade barrier in order to restrict imports: protectionism
254. Tax charged on import: tariffs
255. Quantitative limits on the imports of particular products: quota
256. Emission: anything released into environment
257. Waste: something unwanted and useless
258. Disposal: throwing away of something unwanted
259. Environmentalist: someone concerned about pollution, maintaining
ecological balance and so on
260. Eco efficiency: the extent to which a product does not use rare
resources or produce polluting waste, can be recycled and so on
261. A free hand: the possibility to choose for themselves
262. A framework: an overall structure or plan or outline
263. Quantitative: concerning the amount of something
264. Cradle to grave: from the beginning to the end of the existence
of product
265. A scale: a numerical measure
266. Final aim: the ultimate target
267. Designer: architect
268. Recommending: advocating
269. Realism: pragmatism
270. Auction: sold to higher bidder
271. A fine: financial penalty
272. Compliance: accepting or obeying a law
273. Bureaucracy: excessive administrative work
274. Scheme: plan
275. Ceiling: upper limit
276. Lac: not strict or severe enough
277. Tackling: dealing with difficult problem
278. Vaguely considered: toyed with
279. Threshold: beginning
280. Likelihood: probability
281. Economic agent: individual consumers, households, companies,
organizations etc.
282. Foresight: seeing what will happen in future
283. To maximize utility: to do what you prefer to do, at least possible
cost
284. Expectation: what people think will happen in future
285. Alertness: being quick to see, understand or act in new situation
286. Awareness: knowing or being conscious of something
287. Ignorance: not knowing about something
288. Entrepreneur: a person who starts a business
289. Manual Workers: people who work with their hands
290. Trade Union: a union for workers with a particular type of job
291. Consult: to ask someone’s opinion before making decision
292. Adversary: an opponent or enemy
293. Uneconomic: too expensive, wasteful and loss making
294. Tranny: unlimited and unfair use of power
295. Public sector: areas of economy run by national government
296. Confrontational: hostile, almost aggressive, and seeking
conflict
297. Line filing: adding new products to the existing product line in order to
reduce competition or use excess production capacity
298. Line stretching: lengthening the existing product line by moving
up market or down market.
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