Business+Vocabulary

Business Vocabulary for IB evening group

Basics of Marketing Viral marketing = A marketing technique in which information is passed electronically around Internet (like a computer virus)
 * //Market segmentation//** = customers group, what benefits each groups are seeking, what is each customer’s need for a certain product. The group is called segmentation.
 * //Marketing management//** = is the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.
 * //Competitive barriers//** = the conditions that may make it difficult, or even impossible, for a firm to compete in a market.
 * //Mortgage//** = a long-term bank loan to buy a property, a legal agreement by which a sum of money is lent for the purpose of buying buildings, land.
 * // Fixtures //** = a fixed piece of furniture

Entrepreneurship and Business Administration Merger = Combining of two companies into one Joint venture = A business enterprise shared, made or held by two or more people Venture capital = A capital invested in a project with high risk Acquisition = Recently acquired asset or object, the act of getting something Acquisition accounting = A procedure in accounting in which the value of the assets of a company is changed from book to fair market level after a takeover Market = A regular gathering of people for the purchase and sale of commodities, an open venue in which commercial dealings are conducted (the labour market), a demand for a particular commodity or service (the operation of supply and demand) Manage = To be in charge of, to run, to supervise, to maintain control over **Purchasing** = acquiring the raw materials, parts, components, supplies, and finished products needed to produce goods and services.
 * Stock** = shares of ownership in a corporation
 * Dumping** = charging less than the actual cost
 * Business plan** = document that states company´s goals and how it intends to achieve those goals
 * Liquidity** = the level of ease with which an asset can be converted to cash
 * CEO**, chief executive officer = person appointed by a corporation´s board of directors to carry out the board´s policies and supervise the activities of the corporation
 * //Revenue//** = income, turnover, sales, the top line, money which comes to a person from any source or sources (//e.g.// property, shares), especially the money which comes to a government from taxes //etc//.
 * //Operating//** **//expenses//** = (indirect costs/ overhead) include salaries of sales and office staff, marketing costs, utility bills etc.
 * //Dividends//** = is money paid to shareholders, the interest paid on shares
 * //Bribery//** = corruption, payments are offered as an inducement
 * //Extortion//** = payments are demanded for service

Commercial Law Mind-numbing = So extreme or intense as to prevent normal thought = The Law classes //NOTE: A bill of lading serves as a receipt for the goods, a contract for the transport of the goods, and a document of title showing that the person in possession of the bill has title to the goods //.
 * Bill of Lading** = A document issued by a carrier that lists goods being shipped and specifies the terms of their transport.
 * Incoterms** = A glossary of terms used in international commerce and trade, published by the International Chamber of Commerce.
 * Precedent** = A legal decision.
 * //Time charterer//** = is responsible for the commercial management of the ship, wide-ranging authority to decide where the ship is to sail, what cargo it is to take etc.
 * //General average (or common average//**) = something what has to be sacrificed. Ship, cargo and freight form part of a common venture
 * //Average adjuster//** = is an expert in general average adjustments. In Finland is chosen by the government. The average adjuster conducts an investigation to determine if the conditions for average adjustment have been fulfilled. He calculates which losses, damages and expenses are eligible for general average adjustment.
 * //Shipper//** = the person who delivers the goods for carriage; transport document, a bill of lading or other document issued as evidence of the contract of carriage.
 * //Breach of contract//** = break, violate the contract

Principles of Economics
 * Externality**= Also known as spillover principle.For some goods the costs or benefits associated with the good are not confined to the person or organization that decides how much of the good to produce or consume.
 * //Input market//** = are the markets, in which resources – labour, capital, and land – used to produce products are exchanged
 * //Output or product markets//** = are the markets in which goods and services are exchanged
 * //Substitutes//** = are goods that can serve as replacements for one another, when the price of one increases, demand for the other goes up. Perfect substitutes are identical products.
 * //Conspicuous consumption//** = is the phenomenon of where a good/service is perceived as being extremely exclusive and thus commands a very high price

Organisational Behaviour **Leadership** = Getting others to want to do.
 * Organization =** A structured social system consisting of groups and individuals working together to meet some agreed-upon objectives.
 * Emotional Intelligence (EI) =** A cluster of skills relating to the emotional side life (e.g., the ability to recognize and regulate our own emotions, to influence those of others, to self-motivate).
 * Integrity** = Adherence to moral and ethical principles; soundness of moral character; honesty.
 * Management** = Getting others to do.
 * Managers' characteristics** = Ensuing work gets done, focusing on day to day tasks, and managing the activities of others.
 * Leaders' characteristics** = Inspiring and motivating employees to drive themselves. Leaders are adapt in the art of Emotional Intelligence and apply it in a way that attains the best work out of their people.
 * Mission =** A statement of the purpose of an organization.
 * Goal =** The foundation for further planning.
 * Implementation =** Effectively fitting organizational structure and activities to the environment.
 * Matrix management** = multiple command and control structure in which some employees have dual responsibilities and dual bosses ( my god ! )

Information Management
 * Section break** = You can use section breaks to change the layout or formatting of a page or pages in your document. For example, you can lay out part of a single-column page as two columns.
 * Table of content** = Usually headed simply "Contents" and abbreviated informally as TOC, is a list of the parts of a book or document organized in the order in which the parts appear.

Business English-Li(This is for homework 3. I am not sure if this is the correct place to put this..:) 1.Will this brand be marketed all over the world? = Will this brand have a global _scope?  **scope**:range  2. This type of mistake can have serious _repercussions. = This type of mistake can have serious consequences.  **repercussion**:a far-reaching effect of some action or event

 3.We need to create a consistent brand platform_. = We need to create a corporate image that doesn't change.  **brand platform**: a fundamental element of any organization's strategic infrastructure. A corporate brand platform defines, in practical terms, how the organization applies the combination of its values and competencies to consistently create distinctive value for its customers. In a nutshell, the strategic intent of a brand platform is to focus the organization on building value-added customer relationships.

 4. What percentage of your leads ( = potential deals) end in closed deals?  **leads**:potential deals

 __5. There is a huge potential for improving performance, and our company is a good position to__ _leverage_ ( = realize/use) this potential.  **leverage**:realize,use( I can not find this meaning from dictionary)  __6. A person who attends a trade show is called__ _attendee.  **attendee**: someone who attends  __7. Another word for trade show is__ convention_.  **convention**:trade show <span style="font-family: Arial,Helvetica,sans-serif;"> 8. Cell phone market penetration is at 100% in many European countries. <span style="font-family: Arial,Helvetica,sans-serif;"> **penetration**: the act or process of penetrating, piercing, or entering <span style="font-family: Arial,Helvetica,sans-serif;"> 9. Due to a series of failed initiatives, we seem to have lost our competitive edge. <span style="font-family: Arial,Helvetica,sans-serif;"> **competitive edge**:having a clear advantage over the competition in terms of one or more elements of the marketing mix that is valued by potential customers > **marketing copy**:the written part of an advertisement > > <span style="color: #800080; font-family: 'Arial Black',Gadget,sans-serif; font-size: 80%;">Useful links
 * 1) <span style="font-family: Arial,Helvetica,sans-serif;">10. The written part of an advertisement is what's known as "marketing copy".