RETHINKING BUSINESS CH. 4 Flashcards
clothes of a particular type when they are being sold in a shop
apparel
to form the total of something
account for
the total value of goods and services produced by a country in one year
Gross Domestic Product
the activity of selling goods to the public, usually in shops
retail
If you express an amount …, you mean that amount for each person
per capita
next to, or together with
alongside
someone in a high position, especially in business, who makes decisions and puts them into action
executive
the first sale of a company’s shares to the public
initial public offering
to give something, especially money, in order to provide or achieve something together with other people
contribute
to be extremely good at something
excel
a quality that marks someone or something as special and worth respect and admiration:
cachet
to call someone in order to attract their attention
hail
to come from or to have been born in a particular place
hail from somewhere
containing or having experience of people and things from many different parts of the world
cosmopolitan
a situation in which there are no goods of a particular kind available for sale
stockout
the amount or number of something, especially that can be measured
quantity
goods that are bought and sold
merchandise
(of a place or area) where a lot of people pass through or where people pass through very often
high-traffic
If a company …, it pays to have part of its work done by another company
outsource
the time between the design of a product and its production, or between ordering a product and receiving it
lead time
a group of things or people dealt with at the same time or considered similar in type
batch
the reduction of production costs that is a result of making and selling goods in large quantities, for example, the ability to buy large amounts of materials at reduced prices
economies of scale
to reach a particular amount as an average
average (verb)
a hollow container into which you pour a soft or liquid substance so that it will cool or harden into the shape of the container
mold
very regularly, or at exactly the planned times
like clockwork
to gradually become more successful
go from strength to strength
intended for people who want very good quality products and who do not mind how much they cost
high-end
showing understanding, acting in a positive way, and not following old-fashioned or false beliefs
enlightened
someone who does skilled work with their hands
artisan
An … adjective, place name, etc. is one that comes from the name of a person
eponymous
