Unit 3 - Company Structure

Question 1

a system in which members of an organization or society are ranked according to relative status or authority.

Answer 1

(flat/steep) hierarchy

Question 2

the process or work of keeping financial accounts.

Answer 2

accounting

Question 3

the process or activity of running a business, organization, etc.

Answer 3

administration

Question 4

a person who is in charge of a worker or organization

Answer 4

boss

Question 5

the amount of money you are allowed to spend for a particular purpose

Answer 5

budget

Question 6

the maximum amount that something can contain

Answer 6

capacity

Question 7

a system in a military or civil organization by which instructions are passed from one person to another.

Answer 7

chain of command

Question 8

the top-ranking person in a business organization, ultimately responsible for taking managerial decisions

Answer 8

chief executive officer (CEO)

Question 9

a person with whom one works in a profession or business.

Answer 9

colleagues

Question 10

a division of a large organization such as a government, university, or business, dealing with a specific area of activity

Answer 10

department

Question 11

a person employed for wages or salary, especially at non-executive level.

Answer 11

employee

Question 12

a person or organization that employs people.

Answer 12

employer

Question 13

the management of large amounts of money, especially by governments or large companies

Answer 13

finance

Question 14

an activity that is natural to or the purpose of a person or thing

Answer 14

function

Question 15

A design that groups similar or related occupational specialties together.

Answer 15

functional structure

Question 16

the personnel department of an organization

Answer 16

human resources (HR)

Question 17

done or existing within an organization

Answer 17

in-house

Question 18

a complete list of items such as property, goods in stock, or the contents of a building

Answer 18

inventory

Question 19

The power to give orders to subordinates.

Answer 19

line authority

Question 20

a person with direct managerial responsibility for a particular employee

Answer 20

line manager

Question 21

is a direct linear relationship of command and deference between superiors and their subordinates

Answer 21

line structure

Question 22

the portion of a market controlled by a particular company or product

Answer 22

market share

Question 23

the action or business of promoting and selling products or services, including market research and advertising.

Answer 23

marketing

Question 24

is the practice of managing individuals with more than one reporting line

Answer 24

matrix management

Question 25

department of all operational corporate areas

Answer 25

operating division

Question 26

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

Answer 26

outsourcing

Question 27

the action of making or manufacturing from components or raw materials, or the process of being so manufactured

Answer 27

production

Question 28

the amount by which revenue from sales exceeds costs in a business.

Answer 28

profit margin

Question 29

change the way in which (something) is organized

Answer 29

reorganization

Question 30

work directed towards the innovation, introduction, and improvement of products and processes.

Answer 30

research and development (R&D)

Question 31

the exchange of a commodity for money

Answer 31

sales

Question 32

a sales team

Answer 32

sales force

Question 33

lower in rank or position.

Answer 33

subordinate

Question 34

higher in rank, status, or quality.

Answer 34

superior

Question 35

a company that provides a product, or the materials to make a product

Answer 35

supplier

Question 36

having an obligation for something

Answer 36

to be responsible for

Question 37

work jointly on an activity or project

Answer 37

to collaborate

Question 38

to reduce something

Answer 38

to cut back

Question 39

entrust (a task or responsibility) to another person, typically one who is less senior than oneself

Answer 39

to delegate

Question 40

be responsible to

Answer 40

to report to