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Business English > Business English 1 > Flashcards

Business English 1 Flashcards

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Proverbs and Idioms flashcards
15
Q

Acquisition !

A

an acquisition is when one company buys another (the process could be unwelcome by the smaller company, who might feel that they are being taken over)

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16
Q

Merger !!!

A

a merger is when two companies join to form one (the suggestion is that the process is welcomed by both sides)

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16
Q

Debt

A

a debt is simply money that somebody owes

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17
Q

Liability !

A

a liability refers to an amount of money that a company owes but it can also mean the legal responsibility for paying for someting

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17
Q

Enterprise X

A

an “enterprise” is either a company or any large important project (used without the article it collocates with “free” and “private” to give a synonym for capitalism)

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18
Q

Venture

A

a venture is a new business activity and it collocates with the word “capital” to mean money available to expand a successful start-up

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18
Q

Partnership !

A

a company which is owned by two or more people, e.g. lawyers or architects

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19
Q

Board !!!

A

the “board” is elected by the shareholders and is responsible to them, it can hire or fire the CEO

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19
Q

Franchising !

A

Usually used for small businesses in the retail and service sector like McDonalds and The Body Shop. Head office has tight control of the local business operation and the name and brand image are always retained.

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20
Q

Outsourcing !!!

A

relocating non-core activities to other companies in order to save money

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20
Q

Firm !!!

A

the word firm can just be a synonym for company, but it is often used for a small company such as a partnership of lawyers, etc.

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21
Q

Chief Operating Officer !

A

the person who is responsible for managing the usual activities of a company or organization, he has responsibility for the day-to-day running of the organization, as well as overseeing special projects

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21
Q

Chief Executive Officer !!!

A

top executive responsible for a firm’s overall operations and performance and is held solely responsible for the firm’s success or failure (one of the major duties of a CEO is to maintain and implement corporate policy)

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22
Q

Morale !

A

the level of confidence and positive feelings that people have, especially people who work together, is their level of “morale” (slightly different to “motivation”, which is linked to doing things)

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22
Q

Achievement !

A

something very good and difficult that you have succeeded in doing

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23
Q

Empowerment !!!

A

giving people more control over their work is called “empowerment”

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23
Q

Commitment !

A

when you are willing to give your time and energy to something that you believe in, or a promise or firm decision to do something

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24
Q

Lead Time !

A

the time spent between the customer placing an order and receiving delivery is the “lead-time”

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24
Q

Feasibility !!!

A

the chance of something happening or being successful is its “feasibility”

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25
Q

Upstream !

A

an organization’s suppliers and these suppliers’ own suppliers form the “upstream” end of the supply network

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25
Q

Vendor !!!

A

“vendor” is a close synonym of “supplier” (more common in American usage)

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26
Q

Throughput !

A

the amount of work that can be dealt with in a particular time period is the “throughput”

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26
Q

Reliability !

A

something or someone that is reliable can be trusted or believed because they work or behave well in the way you expect

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27
Q

Durability !

A

able to last a long time without becoming damaged

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27
Q

Benefits !!!

A

desirable attribute of a good or service, which a customer perceives he or she will get from purchasing

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28
Q

Features !

A

a feature is a distinctive characteristic of a good or service that sets it apart from similar items

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28
Q

Trademark !

A

a name or a symbol that has legal protection is called a “registered trademark”

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29
Q

Inbound logistics !!!

A

“inbound logistics” is concerned with bringing raw materials, packaging, etc. from suppliers to producers

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29
Q

Retail Outlets !

A

a place where goods are sold to consumers is called a “retail outlet”

30
Q

Customer returns !

A

reverse logistics involve bringing goods back to the premesises of the original manufacturer because of defects or other “customer returns”

31
Q

Ex-works !!!

A

the buyer picks up the goods at the seller’s premesises and arranges all the transport and insurance

32
Q

Fob (free on board) !

A

the seller delivers the goods onto a ship at a named port; from here all the responsibility (including the sea journey) passes to the buyer

33
Q

Depreciation !

A

the loss in value of a tangible asset over time is calles “depreciation”

34
Q

Payable !

A

sum of money that ought to be paid, as agreed or required

35
Q

Inventory !

A

the total value of raw materials, work-in progress and unsold stock is called “inventory”

36
Q

Dividends !

A

(a part of) the profit of a company that is paid to the people who own shares in it

37
Q

Term !

A

the fixed period of time which something (e.g. a loan or contract) lasts for

38
Q

Treasury bond !

A

an official document showing that someone has lent money to an national government which will be paid back after 10 years and on which interest will be paid twice a year

39
Q

Payroll !!!

A

a list of all employees and how much each one earns is called the “payroll”

40
Q

Disability !

A

a physical problem that makes someone unable to use a part of their body properly

41
Q

In-house !

A

jobs which are done by employees of the company

42
Q

Headhunting !!!

A

the acticity of discretely approaching employees of one company and asking them if they want to work for another is called “headhunting”

43
Q

Shortlist !!!

A

a small group of job candidates who have gone through to the interview state is called the “shortlist”

46
Q

Track record !

A

somebody’s work history, and in particular their successes and failures, is called their “track-record”

47
Q

Appraisal !

A

the formal process by which an employee’s performance is measured and discussed by a supervisor is called the “appraisal process”

47
Q

Legacy !

A

old IT systems (hardware or software) which are still in use are called “legacy systems”

48
Q

Device !

A

a piece of equipment intended for a particular purpose is called “device” (usually something portable and electronic)

49
Q

Bandwidth !!!

A

the rate at which data can pass through a communication channel

50
Q

Platform !

A

a type of hardware and / or software on which application programs run is called a “platform”

51
Q

Embedded !

A

if a chip or wireless device is incorporated physically into an object it is described as being “embedded”

52
Q

Browser !!!

A

a software application used to locate and display web pages is called a “browser”

53
Q

Import !

A

to buy or bring in products from another country

54
Q

Joint Venture X

A

a partnership in which two or more companies (often from different countries) join to undertake a major project or start a business activity

55
Q

Key accounts X

A

inside a company large customers are often referred to as “key accounts”

56
Q

Grassroots !

A

the ordinary people in an organization rather than its leaders

57
Q

Subordinates X

A

each manager supervises a number of subordinates

58
Q

Consolidation !

A

to combine several things, especially businesses, so that they become more effective

59
Q

Acknowledgement !

A

when we have been successful, it is good to have the “acknowledgement” of others = public recognition and thanks

60
Q

Esteem X

A

respect for or a good opinion of someone

61
Q

Enabling X

A

giving someone the tools and skills to do something is called “enabling”

62
Q

First-tier X

A

an organization’s immeadiate suppliers are its “first-tier” suppliers

63
Q

Core competencies X

A

the key areas of technical expertise that a company has are “core competencies”

64
Q

Kaizen !

A

“kaizen” is a term used in lean manufacturing to mean continous improvement

65
Q

Six Sigma !

A

in a manufacturing context “ six sigma” means having a target of only 3.4 defects per million items

66
Q

Value-for-money X

A

the relation between the amount of money a product costs and its real value

67
Q

Breakeven X

A

the point when total costs equal total earnings / the sales volume at which the product starts to make a profit

68
Q

Warehouse X

A

A large building for storing things before they are sold, used or sent out to shops / facility designed for temporary storage

69
Q

Cif (cost, insurance, freight) X

A

the seller has responsibility to a named port of destination, and so pays for the cost and risk of the sea journey as well

70
Q

Asset !

A

on a balance sheet “assets” are what you own

71
Q

Amortization X

A

the loss in value of an intangible asset is called “amortization”

72
Q

Mutual fund X

A

instead of investing in the shares of just one company, you can invest in a mutual fund which holds a basket of stocks

Business English (2 decks)

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