business terminology
"Last week, the management asked me to take care of some American foreign visitors arriving at the airport. I was at the airport to welcome them to Heidelberg. The conducter came, said our tickets were not valid and made us pay. What a embarassing experience! Well, I was surely more awake next time - even though their flight home took of 6 a.m.!"
business sentences:
The terms of the contract are agreed by the parties.
The contract is drafted by an attorney.
The finished contract is signed by the parties.
One of the parties breaks a contract term.
The other party commerces legal action.
The parties try to settle the case out of court.
But the parties cannot agree, so litigate continues.
The case goes to full hearing.
The judge delivers a ruling.
The claimant is or is not awarded damages.
British English law terms:
The person who initiates civil action = claimant
A document that defines a company's internal organization = articles of association
Legal regulations that govern unfair business practices = competition law
A document that has a cash value that may be traded, given or sold = negotiable instruments
a legal represenative = solicitor
The termination of a company's business with the support of its shareholders = voluntary liquidation
some facts on Doug Ivester, chairman and the CEO of Coca Cola company:
parents background/ values:
His parents were factory workers in a tiny mill, strong religious values, save money, high expectations for their son
present position: CEO of Coca Cola company
previous job: accountant
previous boss: Roberto Gorzueta
presonal qualities: hard worker, dedicated to his job, modern thinking, thrives on finding solutions, works systematically
management style/beliefs: big on discipline, set aspirations, communicatione freely with subordinates, hierarchy slows things down, business planning not annually, but on-going process, CEO's mustn't sit in their offices and get isolated
achievements at Coca Cola: maximize shareholder's value, modern, communicative leadership
hobbies: people watching and gambling in Las Vegas
Ivester has a drive, what does this quality mean?
A person with "drive" is very dedicated to achieve certain goals and works extra hard to do so. Ivester showed his drive by working as hard as he did, being there to achieve the position of CEO, raising the company's shareholder value, taking extra lessons in marketing and media coaching.
How did Ivester prepare for the position he now holds?
He worked systematically to obtain the breadth needed to be a modern CEO, getting media coaching, spending Saturdays being tutored in marketin.
Ivester wants his employees to be dressed nicely according to their positions. I agree with that policy to an extent. If you have a lot of personal contact with potential customers you should dress in a professional manner, if you work by yourself it is not that important in my opinion.
Why does Ivester want employees to think of themselves as "knowledge workers"?
He wants them to think that their office is the knowledge they carry around with them. That wy they can work everywhere, which is important for a multinational company such as Coca Cola.
Ivester believes that many American executives are getting "terribly isolated". What is Ivester doing to avoid getting cut off from his staff?
He thinks that to many American executives sit in their offices and avoid the contact with their subordinates, therefore being isolated. Ivester talks with his subordinates a lot, deals with their problems and tries to find solutions with them as a team.
business phrases and words:
A time of high unemployment and poverty = depression
A very successful, powerful company = powerhouse
Very determined to succeed = to be driven
Organizing people into different levels of importance = hierarchy
Something that happens regularly each year = annual
Gets a feeling of satisfaction of doing something = to thrive on something
Explaining the meaning of business words:
deadline = A day and/or time by which something has to be finished
shareholder = A person who owns a certain percentage of a company, meaning a certain amount of shares
tangible asset = A tangible asset is something you buy as a company t ostory money, e.g. a company's building
self-employed = A person who is running their own business
Attribute= An attribute is a certain quality of your product, showing the product's value
business sentences:
The Google brand is growing rapidly. According to the Millward Brown Brandz report, it holds first place in the list of top 100 brands. In fact the IT field dominates the top-ten corporate brands. Google operates websites at many international domains, the most popular being www.google.com, and generates revenue by providing effective advertising opportunities. Google always on the user and consumers usually see Google as quite trustworthy.
Now many companies begin to recognize that brands are mongst their most valuable assets. They understand that brands are becoming ever more powerful in driving busienss growth. Blackberry and Apple are the two fastest-growing brands in the top 100, and China Mobile is growing steadily, too.
E-commerce: What are the differences between E-Commerce and E-Business?
E-commerce is the term for buying, selling and exchanging products or services via computer networks. E-Business adds t othis term online services, business partnerships and online transactions within an organisation.
There are several ways to classify E-Business.
Here are some classifications by market relationship and the respective relationships in a matrix:
CONSUMER:
consumer: consumer to consumer, transaction among consumers
business: business to consumer, transaction between companies and consumers
government: government to consumer, possibility to use tax services
BUSINESS:
consumer: consumer to business, feedback pages
business: business to business, transactions among companies
government: government to business, taxation services
GOVERNMENT:
consumer: consumer to government, feedback forum
business: business to government, feedbak forum
government: government to government, communication service within the government
real life examples and the explaination of their special kind of market relationship:
customer 2 customer: Ebay is a possibility to make transactions between consumers
business 2 business: Eurooffice is transactional and enables business between companies
business 2 customers: Amazon is transitional, BP has an intensive brand building
Definition of the term "Online Advertising" and its advantages and disadvantages:
Paid message on a website, online service or interactive medium such as an interactive online message service.
Advantages: Possibility to narrow ads t oa specific customer group. It is interactive and the context can be changed easily.
Disadvantages: There is a conflict between cost and benefit. it is not possible to measure the results.
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