Unit3: Company Structure Flashcards
a system of authority with different levels, one above the order, e.g. a series of management positions, whose holders can make decisions, or give orders and instructions
hierarchy -> hierarchical
chain of command
a special activity in a company, e.g. production, marketing, finance
function
Independent, able to make decisions without consultant
autonomous
the power of giving instructions to people of the level below in the chain of command
line authority
to be responsible to someone and take instructions from them
to report to
to give someone the responsibility to do somethings instead of you
to delegate
the difference between price of a product or service and the cost of producing it, or between the cost of producing all of a conpany’s products or servieces and the total sum they’re sold for
profit margin
using retained earning rather than borrowing
self-financing
a company that is at least half owned by another company
subsidiary
to treat someone first or treat them more important than anything else
to give priority to someone/somethings over someone/somethings
the trainees, people still learn their job
opprenties
Someone who change their beliefs,
Convertives
to be officially responsible for somethings
to be accountable
Accountability
The ending of termination of an organization
dissolution
obey by laws or regulations
compliance
done by choice, without legal obligation
voluntary
required, obligatory, necessary according to the law
Compulsory for
Meet or find unexpectedly or by accident
Come across
The amount of money a conpany has in its bank account
cash balance
The amount of stock, including raw materials, supplies and finished goods that a company has in a particular time
inventory
Person who has completed a university degree course, especially for a first degree
graduate
When a manager of a company decides to reduce the number of people working for the company in other to save money or increase profits
downsizing
