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Business English 2 > Chapter 1: Online business > Flashcards

Chapter 1: Online business Flashcards

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Proverbs and Idioms flashcards
1
Q

Venture

A

a risky or daring journey or undertaking.

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2
Q

Realm

A

a field or domain of activity or interest.

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3
Q

Vital

A

absolutely necessary; essential.

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4
Q

Encrypt

A

convert (information or data) into a code, especially to prevent unauthorized access.

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5
Q

Retailer

A

a person or business that sells goods to the public in relatively small quantities for use or consumption rather than for resale.

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6
Q

Entrench

A

establish (an attitude, habit, or belief) so firmly that change is very difficult or unlikely.

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7
Q

Investment

A

the action or process of investing money for profit.

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8
Q

Guise

A

an external form, appearance, or manner of presentation, typically concealing the true nature of something.

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9
Q

Rudimentary

A

involving or limited to basic principles.

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10
Q

Purveyor

A

a person who sells or deals in particular goods.

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11
Q

E-commerce

A

the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet.

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12
Q

E-business

A

a business organization that conducts business operations over a computer-mediated network.

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13
Q

Manufacturing process

A

all the stages involved in making something.

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14
Q

Manufacturing plant

A

a factory.

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15
Q

Fab plant

A

a factory where hi-tech silicon chips are manufactured.

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16
Q

Assembly plant

A

a factory where products such as cars are put together on assembly lines.

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17
Q

Ramp up

A

increase the level or amount of something sharply.

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18
Q

Manufacturing sector

A

the sector that makes things, rather than other sectors of the economy.

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19
Q

Manufacturing capacity

A

the amount that can be made at a particular plant or at plants as a whole.

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20
Q

Manufacturing operations

A

activities related to making things.

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21
Q

Manufacturing productivity

A

the amount produced by each worker, or group of workers - OUTPUT

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22
Q

Manufacturing jobs

A

work involved with making things.

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23
Q

Assembly line

A

a series of workers and machines in a factory by which a succession of identical items is progressively assembled.

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24
Q

Operate at full capacity

A

produce as much as it is able to.

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25
Q

Operate below capacity

A

produce less than it is able to.

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26
Q

Idle plant

A

a plant that is no longer operating.

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27
Q

Suppliers

A

a person or organization that provides something needed such as a product or service.

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28
Q

Raw materials

A

materials or substances used in the primary production or manufacturing of goods.

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29
Q

Components

A

a part or element of a larger whole, especially a part of a machine or vehicle.

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30
Q

Supply chain

A

the interconnected journey that raw materials, components, and goods take before their assembly and sale to customers.

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31
Q

Supply chain management

A

the handling of the entire production flow of a good or service.

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32
Q

Vertical integration

A

When a company produces everything internally that it needs, owning all the stages of the supply chain management.

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33
Q

Outsource

A

obtain (goods or a service) by contract from an outside supplier.

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34
Q

Buy in

A

the process of outsourcing company tasks.

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35
Q

Procurement

A

The buying in process of a company.

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36
Q

Just-in-time

A

an inventory management method in which goods are received from suppliers only as they are needed.

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37
Q

Warehouse

A

a large building where raw materials or manufactured goods may be stored prior to their distribution for sale.

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38
Q

Storage

A

space available for storing something, in particular allocated space in a warehouse.

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39
Q

Production lines

A

an arrangement in a factory in which a thing being manufactured is passed through a set linear sequence of mechanical or manual operations.

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40
Q

Cluster

A

a group of similar things or people positioned or occurring closely together.

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41
Q

Captive plant

A

a plant that only provides components to one nearby manufacturer.

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42
Q

Distribute

A

give a share or a unit of (something) to each of a number of recipients.

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43
Q

Automated warehouses

A

warehouses that make use of automated handling equipment and conveying systems to optimize the performance of operations, including truck loading and unloading.

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44
Q

Logistics

A

the process of planning and executing the efficient transportation and storage of goods from the point of origin to the point of consumption.

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45
Q

Quibble

A

a slight objection or criticism about a trivial matter.

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46
Q

Stolid

A

calm, dependable, and showing little emotion or animation

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47
Q

Dismantle

A

take (a machine or structure) to pieces.

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48
Q

Disposal

A

the action or process of getting rid of something.

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49
Q

Recycle

A

aims to salvage as much value as possible from retired products

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50
Q

Refurbished

A

restoring the product back to original specifications

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51
Q

Retired product

A

a product that no longer serves it’s value

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52
Q

Remanufacturing

A

aims to upgrade the product, with additional functions and features.

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53
Q

Repair

A

fixing or replacing broken or non-functioning parts or components for use by the original or another buyer.

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54
Q

Reverse logistics

A

the supply chain process of returning products from end users back through the supply chain to either the retailer or manufacturer.

55
Q

Cradle-to-grave

A

from production stage to disposal or recycle stage.

56
Q

Cradle-to-cradle

A

design and production of products of all types in such a way that at the end of their life, they can be truly recycled (upcycled).

57
Q

WEEE

A

waste electrical and electronic equipment directive.

58
Q

Salvage

A

rescue.

59
Q

Subcontractors

A

outside suppliers.

60
Q

In-house

A

done or existing within an organization.

61
Q

Company core competences

A

the skills that allow it to maintain it’s competitive edge.

62
Q

Competitive edge

A

value that gains advantage over other companies in the market.

63
Q

Farm out

A

to give work to other people to do.

64
Q

Transaction cost analysis

A

the study of trade prices to determine whether the trades were arranged at favourable prices – low prices for purchases and high prices for sales.

65
Q

Capabilities

A

skills.

66
Q

Corporate culture

A

the way a company does things, how it’s employees think, etc.

67
Q

Payroll

A

Payment of employees’ salaries

68
Q

Back office outsourcing

A

the process of hiring a third-party company to handle the gritty tasks of your business that don’t directly involve delivering the product or service you sell to your customers. Includes:

  • purchasing
  • payroll
  • billing/invoicing
69
Q

Front office outsourcing

A

the outsourcing of client or customer-facing services to external businesses or third-party vendors. Includes:

  • technical support
  • marketing
70
Q

Bandwidth

A

Connection speed

71
Q

Broadband internet

A

high-speed Internet access that is always on and faster than the traditional dial-up access.

72
Q

Video-on-demand (VOD)

A

all video content requested on-demand by users. Examples:
- Netflix
- Amazon prime
- Hulu

73
Q

WLAN

A

Wireless local area network (Wi-Fi)

74
Q

Hotspot

A

a public place where a wireless signal is made available so that the internet can be accessed.

75
Q

Loaded

A

Equipped

76
Q

SatNav

A

Satellite navigation

77
Q

GPS

A

Global Positioning System

78
Q

Moore’s law

A

The principle that the computing power of a computer chip will roughly double every 18 months, therefor meaning that the cost of a unit of computing power will continue to halve every 18 months.

79
Q

Dotcom bubble

A

A stock market bubble that was caused by speculation in dotcom or internet-based businesses from 1995-2000

80
Q

Web 2.0

A

the second stage of development of the internet, characterized especially by the change from static web pages to dynamic or user-generated content and the growth of social media.

81
Q

Interoperability

A

The ability of different computers and computer systems to work together

82
Q

Wikis

A

Websites that anyone can edit

83
Q

Instant messaging

A

internet users sending short messages to each other that are received immediately

84
Q

Social networking sites

A

Websites that allow users to post details and pictures about themselves in their profiles, say who their friends are, etc.

85
Q

External social networking sites

A

social networking sites that are open to everyone

86
Q

Internal social networking sites

A

social networking sites open only to particular groups, for example medical workers in a particular speciality, who exchange information and advice with eachother

87
Q

To vet

A

To check

88
Q

Blog

A

Online diaries written by bloggers, with readers able to react and comment

89
Q

Vlog

A

Online diaries written by vloggers

90
Q

Chat rooms

A

Users conversing with eachother in written form to socialize

91
Q

Forums

A

Where people discuss a particular subject

92
Q

Killer app

A

The next very popular and profitable application

93
Q

Tacit

A

Unspoken

94
Q

Externalization

A

Developing concepts, often with analogies that allow them to be communicated

95
Q

Socialization

A

Spreading tacit knowledge by sharing experience in working on something

96
Q

Internalization

A

Learning by doing and hands on experience, the knowledge becomes part of the individual’s knowledge base and thus becomes an asset for the organisation

97
Q

Knowledge base

A

What u know

98
Q

Asset

A

Something valuable

99
Q

Knowledge creation

A

The way that knowledge in a company is built up

100
Q

SECI model

A

Socialisation
Externalization
Combination
Internalization

Explains how tacit and explicit knowlege are convered into organizational knowledge

101
Q

Corporate intranet

A

A website specifically for a company’s employees

102
Q

Tap into

A

Freely available whenever needed

103
Q

Metadata

A

Information about where the content is to be found

104
Q

Proprietary

A

Relating to an owner or ownership

105
Q

Collective knowledge

A

The body of knowledge that grows out of a group

106
Q

Crowdsourcing

A

Obtaining work, information, or opinions from a large group of people who submit their data via the internet, social media, and smartphone apps

107
Q

Prosumers

A

A consumer who becomes involved with designing or customizing products for their own needs

108
Q

Infiltrating

A

Illegaly penetrating

109
Q

Virus

A

a piece of code that is capable of copying itself and typically has a detrimental effect, such as corrupting the system or destroying data.

110
Q

Firewall

A

a network security device that monitors and filters incoming and outgoing network traffic based on an organization’s previously established security policies.

111
Q

Hijack

A

a type of network security attack in which the attacker takes control of computer systems, software programs and/or network communications.

112
Q

Trojan horse virus

A

a type of malware that downloads onto a computer disguised as a legitimate program.

113
Q

Malware

A

malicious software

114
Q

Cybercrime

A

criminal activity on the internet.

115
Q

Phishing

A

a type of cybersecurity attack during which malicious actors send messages pretending to be a trusted person or entity.

116
Q

Spyware

A

software that enables a user to obtain covert information about another’s computer activities by transmitting data covertly from their hard drive.

117
Q

Electronic trail

A

record of sites visited

118
Q

Confidential

A

intended to be kept secret.

119
Q

Snoop into

A

to look around a place secretly, in order to discover things or find out information about someone or something.

120
Q

Big brother

A

a person or organization exercising total control over people’s lives.

121
Q

Uberisation

A

the act or process of changing the market for a service by introducing a different way of buying or using it, especially using mobile technology.

122
Q

Gig economy

A

a labour market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.

123
Q

Self-employed

A

working for oneself as a freelance or the owner of a business rather than for an employer.

124
Q

Reviews

A

a formal assessment of something with the intention of instituting change if necessary.

125
Q

Crowdfunding

A

the practice of funding a project or venture by raising money from a large number of people who each contribute a relatively small amount, typically via the internet.

126
Q

Sharing economy

A

an economic system in which assets or services are shared between private individuals, either free or for a fee, typically by means of the internet.

127
Q

Equity-based

A

something that is connected to the value of shares in a company.

128
Q

reward-based

A

individuals donating to a project or business with the expectation of receiving a non-financial reward in return, such as goods or services at a later stage.

129
Q

Start-up

A

a newly established business.

130
Q

Peer-to-peer (P2P) sites

A

a decentralized platform whereby two individuals interact directly with each other, without intermediation by a third party.

131
Q

Pirate

A

use or reproduce (another’s work) for profit without permission, usually in contravention of patent or copyright.

132
Q

Copyright

A

the exclusive and assignable legal right, given to the originator for a fixed number of years, to print, publish, perform, film, or record literary, artistic, or musical material.

133
Q

Digitize

A

convert (pictures, text, or sound) into a digital form that can be processed by a computer.

134
Q

Digital watermark

A

a piece of code embedded in a digital image, video, or audio file in order to provide copyright information, typically being undetectable during normal use of the file.

Business English 2 (3 decks)

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