You are on page 1of 5


Innovation - a new idea or method.

Promotion - when someone is raised to a higher or more important position.
Public sector - the section of the economy under govermment control.
Subordinate a person with a less important position in a organization.
5 tools of manager (P.Drucket): planning (setting objectives, organising, intergrating,
measuring, performance and developing people).

Theory X - is the rather pessimistic approach to workers and working wich assumes that
people are loyal and will avoid work and responbility if they can
Theory Y - on the contrary assumes that most people have psychological need to work and
give the right conditions job security, financial rewards they will be creative, ambitions
and self-motivated by the statifaction of doing a good job.
Job security - knowing that there is a little risk of losing onces employment
Wages - money paid (per hours or day or week) manual workers.
Unskilled - without any particular abilities acquired by training.
Job rotation - regulary switching between different tasks.

Hierarchy of chain of command - a system of authority with different levels, one above the
other e.g.a services of management positions whose holders can make decisions, or give
orders and instructions.
Wikinomics - colloborating with people outside the traditional corporate structure, letting
people around the world corporate to improve an operation or solve a problem and
payng them for their ideas.

Faton Bajrami

Matrix Menagment - to get round hierarchies is to use MM in wich people report to more
than one superior, for example a product manager with an idea would deal directly with
the manager responsible for a certaing marker.
Out sourcing - transfering some of the companys internal functions or operations or jobs
to outside supplies rather than performing them.
Line authority - to give someone else responsbillity for d oing something instead of you.

The 3 cultural types are: Multi-active, Linear-active,reactive
Linear - active culture-Businesspeople in linear-active culture such as Britain, the USA and
Germany are generally organized and rational try to act logically rather than emotionally
plan in advance and like to do one thing at time.
Multi-active cultures in southern Europe, Latin America and Africa attach moore
importance to feelings , emotions and intuation and relationshops and connections,
they are flexibile, good at changing plans and happy to improvise.
Reactive culture people in reactive culture in Asia prefer to listen and establish the others
position and then react to it.
Individualist Collectivist - believing that group is more important than individual.
Glocalization - thought based on reason and judgement rather than feelings and emotions.
Status respect , prestige or importance given to someone.

Recruitment the process of finding people to join a company or organization.
Shortlist - list of people and things that you think kan be sweetable, for a job, prize, team
Covering letter - a letter that you send with something , to explainwhat you are sending or
to give extra informations.
Interviewee - a meeting in with some one asks another person, if he or she is sweetable for
a job.
Interviewer someone who interviewer people, espcialy for a job.

Faton Bajrami

CRITICAL MASS The number of people needed to start and sustain a change.
Outperforming doing better than others , financially
Rerurn on the equity the amount of money a company earns on the investment of its
share holders.
Compulsory required, obligatory,necessary according to the law.
Quota an officially imposed number or quantity.
Complience obeying laws or regulations.
Apprentices trainees , people still learning their job.
Conver someone who changes their beliefs.

The primary sector agriculture and the extraction of raw materials from the earth
The secondary sector manufacturing industry in wich raw materials are turned int o
finished products
The tertiary or service sector - the commercial services that help industry produce and
distribute goods to their final consumers, as well as activities such as education,
healthcore, leisure, tourism etc.
Real estare land and buildings as property.
Labour the workers in a particular country, industry or company.

Inventory is a companys reservers of raw materials,pars,work in process and finished
Plant is a collective word for all the buildings , machines , equipment involved in
producing and delivering goods or a service.
Outsourcing means buying products or processed materials from other companies rather
than manufacturing them.

Faton Bajrami

Economies of scale are the cost savings from large-scale production.

Lead time is the time needed to perform an activity such as manufacturing a product or
delivering it to a costumer.
Risk premium- the potencial cost of taking a chance.
Diruptive causing trouble and stopping something from countinuing as usual.
Procurement the obtaining of supplies.
Prosperity the state of being successful and having a lot of money.

Agile able to move quickly and easily.
Estimate a guess of what the size or amount of something might be.
Lean of production using small quantities and avoiding ani waste.
Logistics - designing and managing the flow of goods , information and the other resources.
Pull strategies - are based on current demand.
Push strategies - are based on estimated future demand.

Bountiful getting rid of things wich are no longer useful or wanted.
Reworking changing or improving a product or service.
Scrapping to examine a machine and repair any faulty parts.
Warranties guarantess: written promises to repair or replace product that develop a fault.

Outlets places of business for selling goods to costumer.
Product mix all the different products, brands and items that a company sells.
Retailers businesses that sell goods or mdshdus to individual consumers.
Brand new recognition the extent to which consumer are aware of brand and knowits

Faton Bajrami

Market share the sales of company expressed as percentage of total sales in a given
Brand switcher consumers who buy various competing products rather than being
loyal to a particular brand.

Distrubution channel all the companies or individuals involved in moving goods or
services, from producers to consummers.
Market penetration the strategy of setting a low price to try to sell a large volume and
increase market share.
Market skimming - making a product different from similar products offered by other
sellers, by product differences, advertisting etc.
Product differention dividing a market into distinct groups of buyers who have
different requirements or buying hobits.
Product features the attributes or characteristics of a product such as size, shape,
quality, price etc.
Wholesaler - someone who contacts existing and potencial costuemrs and trie to
persuade them to buy goods or services.

Adversting agencies companies that desing adversting for clients.
Adversting campaing the statement of objectives that a client works out with an
advertisting agency.
Target costumers a defined set of costumers whose needs a company plans to
Comperative-parity methot choosing to speak with same amount an advertising as
onces competions.
Word of advertising free advertising , when satisfied costumers recommend products
to their friends.
Viral marketing the amount of money a company plans to spend in developing its
advertising and buying nmedia time or space.

Faton Bajrami