shareholders - people who provide capital
workforce – all the people working in a company
Board of Directors – a group of persons who govern the corporation
Chairperson/ President–a person who heads the Board of Directors
Managing Director (MD)/ Chief Executive Officer (CEO)– person who has overall responsibility for the
running of a company
Senior managers –monitoring and correcting the work of a group of people
Middle managers - lower executives and employees who supervise day-to-day operations
recruit / Hire – employ
recruitment agency- firms that try to suite up people with the right jobs
position – job, appointment, post
apply for – to request or seek a job, employment
applicant/ candidate– a person who applies for a job
shortlist –a list of preferable candidates that have been selected for final consideration
interview - a formal meeting in person, arranged for the assessment of the qualifications of an applicant
letter of application /Covering letter- a letter sent along with a CV to provide additional information
curriculum vitae CV/ (AmE) resume - a written document that lists your work experience, skills, and
educational background
retailing - the sale of goods in small quantities directly to consumers
retailer – a person who sales in small quantities directly to customers
chains - hotels or shops that have the same owner or management
shopping centre – a group of shops and often restaurants having a common parking space
outlet - a store that sells the goods of a particular manufacturer or wholesaler
hypermarket - a very large retail outlet that is a combination of a department store and a supermarket.
department store - a large retail store for the sale of many kinds of goods organized in separate
departments
retail park - an area outside a town with many large shops and space for cars to park
franchising - business system where two parties are involved, the franchisor and the franchisee and the
contract binding them is franchise
franchisor - is the person who gives the license or permission to the franchisee.
franchisee - is the person who receives the rights of conducting the business from the franchisor
franchise fee (front end fee) - the initial sum of money paid when purchasing a franchise
Management services fee – money paid by the franchisee for the assistance and advice
advertising fee - fee paid by the franchisee to the franchisor as his share of the corporate advertising
costs
operations manual - guidelines for the franchisee on how to operate the franchised business
master franchisee -main franchisee within a specified geographical area
delegate-transfer power to someone
initiative-readiness to make a first step
subordinates-a person that is of lesser rank or importance
central bank - a bank which issues money, looks after the government’s finance and monetary policy
and acts as a banker to other banks
commercial bank - offers a full range of banking products and services to individuals and businesses
merchant bank – a bank that does not deal with public but specializes in corporate finance
stock market (or stock exchange) – a place for buying and selling shares
shares ( US stocks) – units of capital
equities -shares issued by a company entitling their holders to a dividend according to the profits of the
company and to a claim on net assets
to issue – to publish, to emit
investors - someone who gives capital in order to gain financial returns
broker - an agent who buys or sells goods, securities
shareholder (US stockholder) - the owner of shares in a company
dividend - part of a company's profits paid to its shareholders
bonds – loans for fixed periods with fixed interest rates
securities - a certificate of ownership, such as a share, stock, or bond
to trade – to buy and sell for profit
export – send goods to another country
import – bring in goods from another country
tariffs (or duties) – a tax on imported goods
quotas – maximum quantity of a product allowed into country during a certain period
financial accounts-give information about financial performance
management accounts-provide data about operational efficiency
revenue-the total amount od money that a company receives during a certain period
public limited companies (plc.) – companies whose shares can be bought and sold on the stock
exchange
sole trader (sole proprietor) - a business owned by a single individual.
partnership – a relationship in which two or more people or organizations work together
private limited companies (ltd.) – has shareholders with limited liability and its shares may not be
offered to the general public.
limited liability - type of investment in which a partner cannot lose more than he invested. The investor
or partner is not personally responsible for the debts and obligations of the company in case that these
are not fulfilled, their responsibility is limited to the amount that they contributed.
incorporated (inc.) - organized and maintained as a legal corporation by completing the required
procedures.
joint venture - a partnership formed often to share risk or expertise.
merger – which is when two approximately equal-sized companies join to combine forces.
acquisition or takeover - an acquisition is when one larger company purchases a smaller company.
marketing mix-four ps: product, price, place, promotion
target audience-the specific group to which advertising is directed
product advertising-making a product or service known to a wider audience
corporate advertising-generating positive publicity for companies
brand image-a picture which company wants to present to the public
media-television, radio, newspapers, magazines, the internet and direct mail
publish- to prepare and issue (a book, a magazine) for sale
press-all the media and agencies that print, broadcast, or gather and transmit news.
data-facts that can be analyzed, information
broadcast-to transmit programs from a radio or television station.
networks-a. a group of transmitting stations linked by wire or microwave relay so that the same radio
or television program can be broadcast by all; an organization that provides the programs for these
stations.
Possible exam questions:
1. Who is at the top of a company?
2. Which departments in a company do you know?
3. What can companies do when they want to recruit people?
4. Name as many as possible retail outlets that you know.
5. What are advantages and disadvantages of a franchise system for a franchisor/franchisee?
6. Which services are offered by a commercial bank?
7. What is the difference between commercial and a merchant bank?
8. Name as many as possible verbs which can describe the change in the share price.
9. What goods does your country export and import?
10. What form of business would you choose if you want to set up a company? Why?
11. What is the difference between public and private limited companies?
12. What is the difference between a merger and an acquisition?
13. Which different techniques can companies use for market research?
14. What methods of advertising are the best? Why?