Unit 1

Goals: Those things you aim for that take planning and work
maximize profit: produce quantity where total revenue minus total cost is greatest
set objectives: establish goals for the group and decide what must be done to achieve them
meet targets: to reach one's goals/aims
to execute plans and strategies: to carry out; accomplish
public sector: that part of the economy made up of the local, state, and federal governments
private sector: Businesses not associated with government agencies.
delegate tasks: give people different responsibilities
consultant: a person who provides expert advice professionally
motivate: to provide with a reason for doing; to push on to some goal
accomplish: to do something by making an effort; to complete successfully
achieve: to accomplish
attain: to achieve
crisis: a sudden, unpredictable, and potentially dangerous event
measure performance: done to monitor if employees meet set targets and goals
develop people: recognize the value of employees and develop this critical organizational
asset
develop strategies: (v) to think of plans that are intended to achieve a particular purpose
allocate resources: (phrase) to officially decide how money, equipment, staff etc. should be
used
to perform a task: to do a certain activity or perform a certain function
social skills: skills for successfully handling social relations and getting along well with
others
communicate objectives: tell employees which goals the company wants to accomplish
classify: arrange or order by classes or categories
subordinate: lower in rank or position
supplier: A business which sells (or supplies) products to another business.
Distributor: a person or organization that helps another organization sell its goods and
services to customers
Authorities: A group of people who have the right to enforce laws
Technique: a way of doing something
Innovation: (n.) something new, a change; the act of introducing a new method, idea, device,
etc.
Objective: a goal or purpose
Promotion: Advance an employee earns by being productive, cooperation, dependable, and
highly skilled. (Higher position)
Strategy: a plan of action or policy designed to achieve a major or overall aim.
deal with crises (pl): to take action with respect to problematic situations
make a decision: to decide
supervise: to direct or manage activities
to implement: To put into action; execute
demonstrate: to show clearly

Unit 2
Remuneration: payment for work done SALARY; WAGES
compensation package: the mix of salary, benefits, and other incentives that employees
receive from the organization
salary: A fixed amount of money paid to an employee for each pay period.
Wage: An amount of money paid to an employee at a specific rate per hour worked.
Commission: An amount paid to an employee based on a percentage of the employee's sales
Bonus: extra payment
job security: The probability that an individual will keep his or her job; a job with a high level
of job security is such that a person with the job would have a small chance of becoming
unemployed.
Promotion: Advance an employee earns by being productive, cooperation, dependable, and
highly skilled.
Theory X management style: Assume employees dislike and avoid work; the manager must
use coercion, threats, and control schemes to motivate workers
Theory Y management style: Assume the employee considers work as natural and enjoys the
satisfaction of self-actualization needs and esteem
incapable of: unable to
Maslow's Hierarchy of Needs: physiological, safety, love/belonging, esteem, self-
actualization
Esteem: to regard highly; a highly favorable opinion or judgement
labour relations: interactions between employers and employees, or managers and workers
incentives: a positive or negative environmental stimulus that motivates behavior
hygeine factors: Potential work based causes of satisfaction or dissatisfaction e.g. Pay,
Working Conditions, Social Status
Satisfiers: Hygeine factors that cause dissatisfaction when absent.
Motivators: In Herzberg's theory of motivating factors, job factors that cause employees to be
productive and that give them satisfaction.
unskilled workers (labor): people whose jobs require no specialized training
skilled workers (labor): people who have learned a trade or craft either through a vocational
school or as an apprentice to an experienced worker
staff: a group of people who work for an organization or business
checkout/till: the place in the shop where you pay for your things
job rotation: a job enrichment strategy that involves moving employees from one job to
another
Corporate culture (organizational culture): Shared philosophies, values, assumptions, beliefs,
expectations, attitudes, and norms that knit an organization together.
Auditing: the job of reviewing and evaluating the information used to prepare a company's
financial statements
assembly line: In a factory, an arrangement where a product is moved from worker to worker,
with each person performing a single task in the making of the product.
production line: standardized layout arranged according to a fixed sequence of production
tasks
think outside the box: to think of new, different, or unusual ways of doing something,
especially in business
retirement: The state of being retired from one's occupation.

Unit 3
Wikinomics: use of mass collaboration online to solve problems and create business
opportunities
Collaborate: (v.) to work with, work together
Outsourcing: obtain (goods or a service) from an outside supplier, especially in place of an
internal source.
in-house: internally
supplier: A business which sells (or supplies) products and/or services to another company
autonomous: independent, able to take decisions without consulting someone at the same
level or higher in the chain of command
autonomy: independence
delegate tasks: give people different responsibilities
function: a specific activity in a company, e.g. production, marketing, finance, etc
hierarchy or chain of command: a system or organization in which people or groups are
ranked one above the other according to status or authority.
chain of command: the line of authority that moves from the top of a hierarchy to the lowest
level
line authority: the power to give instructions to people at the level below in the chain of
command
Functional Authority: Control over individuals outside one's own direct areas of
responsibility.
report to: to be responsible to someone and to take instructions from them
line structure: the simplest organizational structure, in which direct lines of authority extend
from the top manager to the lowest level of the organization
functional structure: An organizational structure composed of all the departments that an
organization requires to produce its goods or services.
Disadvantage: drawback
Drawback: the quality of being a hindrance
concerned with: interested in
flat structure: A management structure characterized by an overall broad span of control and
relatively few hierarchical levels.
matrix structure: an organization combines functional and divisional chains of command in a
grid so that there are two command structures-vertical and horizontal
superior: a person above you in the chain of command
org chart: illustration showing formal lines of authority/positions
to take priority: be considered more important than other things
take a decision: to make a decision
decision making: the process of making a choice or finding a solution
give priority to: to deal with something first and give it preferential treatment
full capacity: when a business produces at maximum output
commission: An amount paid to an employee based on a percentage of the employee's sales
market share: a company's product sales as a percentage of total sales for that industry
credit facilities: arrangements for paying for goods or services at a later time, usually paying
interest as well as the original amount
profit margin: net income divided by sales

Unit 4
Glocalization: an invented word combining worldwide and regional concerns
Logic: thought based on reason and judgment rather than feeling and emotions
Compromise: reducing demands or changing opinions in order to agree
Intuition: understanding or knowing without consciously using reason
Connections: people of influence or importance with whom you are associated
to improvise: to do something when necessary without having already planned it
confrontation: a face-to-face disagreement or argument
status: respect, prestige or importance given to someone
collectivist: believing that the group is more important than the individual
to lose face: to be humiliated or disrespected in public
to interrupt: to cut into someone else's turn to speak
eye contact: looking direct at the people you are talking or listening to