UNITS 2 Flashcards
warehouse
a building where large quantities of goods can be stored before being sent for sale
supplier
a company that provides raw materials, parts or equipment to companies that make finished goods
supervisory board
a group appointed by shareholders to advise directors on the managing of the company and ensure that everything is done correctly
subsidiary
a company that is at least half-owned by another company
start-up
a new company or venture
stakeholder
anyone who has a direct or indirect interest in the success of an organisation
staff
all the people employed by a company or organisation
sole trader
a person who has his/her own business
small to medium-sized enterprise (SME)
a company that does not have a large number of employees and does not sell a large amount of goods or services
retailer
a person or business that sells goods to the public
research and development (RaD)
the part of business that deals with designing and testing new products
purchasing
the activity of obtaining supplies of parts, raw materials, equipment or services for a company
quality assurance
The activity of managing the process of producing goods to make sure that they are kept at the standard the customer expects
public relations PR
the job of presenting a positive image of the organisation to the public
premises
the place where a company carries out its business
payroll
a list of a company’s employees and the amount of money they are paid
partnership
a type of business organisation made up of a group of professionals who work together
parent company
an organisation that owns and controls other companies
organisation chart
a diagram that shows the structure of an organisation and the relationship between different jobs
open-plan office
a large office space with no dividing walls
non-profit organisation (NPO)
An organisation that does not issue shares, but uses its profits to achieve its goals
maintenance
the routine activity of keeping property and equipment in good condition
listed company (plc)
a company with limited liablity whose shares are freely traded
limited liability
a legal position in which if the company cannot pay its debts the shareholders are responsible only for the money they have given
limited company
a company with limited liability whose shares are not sold to the public
legal entity
a person or organisation that has the right to make contracts
joint-stock company
A business that is owned by a group of people, who provide its funds appoint its managers and share its profits and debts
human resources
the department in a company that deals with employing and training people
hierarchy
an organisation with levels in which people higher up give orders to people lower down
headquarters
the head office or main building of an organisation
go public
to offer shares for sale to the public
franchise
an authorisation given by a company for others ot use its name and sell its products in return for payment or share in the profits, the shop, restaurant
founder
a person who starts up a company
flotation
the process of offering a companys shares for sale on the stock market for the first time
entrepreneur
a person who starts a business, esp. one involving financial risk
enterprise
a company or business especially one that is difficult and involves taking risks
distribution
the action or process of supplying goods to retailers
deparment
a section of a large business
corporate identity
the personality of a company, the qualities that set it apart from others, often expressed in its name or in the design of its packaging and publicity materials
agency
a business providing a service between two parties
affiliate
a person or organisation attached to a larger body
administration
the process or activity of running a business or an organisation
report
a written description of something
