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7/30/2019 2.Afci, seminar.
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Vocabulary Used in Business
About Work and Jobs
In order to find out somebodys job, one has to ask the question What
do you do?The answer will be: I am an engineer/ an economist/ ateacher.
Lets invent a brief presentation of someone:
I am an engineer. I work for an American large company of
computers. I work on hard design. I run the design department of the
company. I manage the department; 10 designers work under me.
I have many responsibilities; I am in charge of department budget. I deal
with a lot of people in the company. I work with managers of other
department of the company and am responsible for coordination betweendesign and production.
I leave for work at 7 oclock every morning. I go to work by car and get
to work/ arrive to work at about eight. I am at work till four. Fortunately, I
am not often ill so I am not off work very often
I have a full time job or I work full-time. I have a permanent job/ work
VOCABULARY
to be in charge of + noun/ verb+ -ing a rspunde de
to be responsible for +noun/ verb+ -ing a fi rspunztor pentru
one of my responsibilities is + Infinitive / vb+ -inuna din responsabiliti este de
to deal, dealt, dealt a avea de-a face cu
to design a proiecta
design proiectdesigner proiectant
to go, went gone a merge
to leave, left, left a prsi, a pleca
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to manage, -ed a conduce
manager manager
management
to run, ran, run 1. a fugi 2. a conduceto run a department a conduce un department
to work, -ed a lucrato arrive at work a ajunge la serviciu
to be at work a fi la serviciuto be off work a lipsi de la serviciuto be in work a fi n cmpul muncii
to be out of work a fi omerto get to work a ajunge la serviciu
to go to work a merge la serviciuto have work= to have a job a avea un serviciuto leave for work a pleca la serviciuto work for a lucra pentru cineva/ la o firm
to work on a lucra lato work with a lucra cu
to work under a lucra sub conducerea cuiva
work(noun; 1.job; 2. place where one does the job) munca; loc de muncaworker muncitor
a full-time job a part time job
serviciu cu norma ntreag - serviciu cu jumtate
de norm
to work full time to work part time a munci o norm ntreag a munci ojumtate de norm
a permanent job/ work a temporary job/ work munca permanent muncatemporar
GRAMMAR
Indefinite Article is used before nouns indicating a job:
an engineer, an economist, a teacher
Articles, nouns and adjectives are placed in front of another noun
acting as the latters attribute:
a large European car market(the market is for cars and is large, the cars are made in Europe)
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Names of vehicles used for transport are preceded by the preposition by:by train, by bus, by car
Nouns ended iny, may change it (when a consonant is in front of it) or not(when a vowel precedes it) when they are used in the Plural:
responsibility responsibilities
boy boys
Interrogative and Negative forms of the greatest part of verbs is formed bymeans of the auxiliary verb to do:
What do you do?
Did you work?
He does not run the department.
You did not leave the office.
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About Ways of Working
Peter is an office workerin super market. Its an eight- to- four job
with regular working hours. It is an interesting work and Peter likes it. He
has to clock in and clock outevery day. All the employees of the companyhave to do this.
Jane works in an office; she is an engineer. The company she worksfor uses a system offlextime, it means that everybody can work when one
wants within certain limits of time. They can start working any time before
ten and finish the work not later than three but each month they must have acertain number of worked hours. It is good for her as she has young children
she has to take care of.
Jim works for a large advertising company. The offices are in the citybut Jim lives in the suburbs in a cozy cottage. Because of this, he commutes
to work every day, he is a commuter. He is allowed to work from homeusing the computer and the internet but he likes going into the office andworking with the mates.
George works in a computer plant. He works in shifts. He may be on
the day shiftone week and the night shiftthe next week. It is difficultchanging the shifts as he has problems with sleeping and eating hours.
VOCABULARY
office worker funcionarworking hours ore de lucru
to clock in/on to clock out/off a ponta la intrare / ieire
B.E.flexitime / A.E.flextime timp flexibil
to live in the suburbs a locui n suburbie
to commute a face navetacommuter navetist
shift; day/ night shift tura de zi/ noapte
to work in shifts a lucra pe ture
to change shifts a schimba turelemate coleg
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GRAMMAR
Attributes that may be used in front of the nounsjob and work:
- exciting, fascinating, satisfying, stimulating
(they underline an interesting work that gives a positive feeling)- boring, dull, uninteresting, unstimulating
(they suggest a not interesting work)
- repetitive, routine
(the work is done in the same way again and again)
- demanding, hard, tiring, tough
(they suggest a difficult work which makes you tired)
Attribute formed of figures indicates a certain unit of time used for a certain
action:a nine-to five jobis a job that begins at nine oclock and ends at five oclock
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Something about Recruitment and Selection of Personnel
To find people for different jobs means to recruitorhire them. The
person who is recruited is a recruitora hire. Any company hires oremploys
personnel; these persons are called employees and the one who does theaction of employing is an employer.
Some companies hire employees directly, other ones use outside
recruiters/ recruitment agencies orheadhunters. The headhunters headhunt
people for jobs persuading them to leave the organizations they already work
for, the action being called headhunting.John is a driver but he doesnt want to travel so much. He is looking
for a new job; the local newspaper has special pages, situation vacant pages,
where a lot of ads are present. A local company is offering a van driver joband John seems to be interested in. Once he has found out about it, John
applied for the job, sending an application letterand his CV(the story of hislife).
The head of the recruitmenthas to do the selection. The personnel
department receives the application letters and enclosing documents. The
person in charge with the recruitment looks at the background of theapplicants ( their experience of work, educational qualifications). The
candidates are then invited togroup discussions. Then individual interviewswith each candidate are organized. Candidates are asked to do psychometric
tests for having their intelligence and personality assessed. Once these are
done, the recruiter shortlists two or three candidates; the latters referencesare checked as the former asks information from the referees( previous
teachers or employers). If the references are good, the candidates are asked
to come for another interview and only then, they are offered the job. If theyaccept the job, they are hired but if they turned it down, other persons are
looked for.
VOCABULARY
to recruit a recrutaa recruit persoan recrutat
recruiter persoan care recruteaz
(A.E). to hire a angajaa hire persoan angajat
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to employ a angaja
employer angajator
employee persoan angajat
employment angajare
to headhunt a cuta personala headhunter persoan care caut oameni pentru a fi angajai
headhunting aciunea de cutare a oamenilor pentru a fi angajai
to drive, drove, driven a conduce o main, a ofadriver ofer
van driver oferul dubiei
to accept a job a accepta un serviciu
to apply for a job a solicita un serviciuapplicant solicitant
application letter scrisoare de solicitareto assess a evaluacover/ covering letter scrisoare nsoitoarecurriculum vitae= CV
to enclose a anexa
enclosure anex
head of the recruitment/ personnel department ef al serviciului personalreference caracterizare, referin
referee persoana care d o caracterizare
situation vacant pages pagini cu servicii disponibileto look for a job a cuta un serviciu
to offer a job a oferi un serviciuto send, sent, sent a trimiteto shortlist a ntocmi o list mai scurt
to turn down a refuza un serviciu
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Something about Skills and Qualifications
Thegraduates (people who have just left the university) have good
paper qualifications but have no work experience. They dont know how a
business works.Education (a life long continuous gathering of information) helps the
people to have a serious background, teaches them how to think but doesntmake them specialists in a certain domain. It is useful if you train them as
scientists, in general, or better said, train them for aspecific job.
Good managers are also needed; if they dont attend a specialized faculty inthis field, they may attend in house training courses within the company
they are working for.Managementdevelopment and management training
are to be taken into account.The people need skills.A skillis the ability to do something well
because you have learned how to do it and practiced it. Taking into accountthe skills the people have, as well as the jobs they practice, one may usesome adjectives which are to characterize the two, namely:
- highly skilled persons orjobs requiring highly skilled persons,skilled
persons orjobs requiring highly skilled person-semi-skilled persons orjobs requiring highly skilled persons
- unskilledSpeaking about someone, you may say that the respective person is
skilled at computer hardware or skilled in using computers or he is good
with computers.Job advertisements make brief descriptions of what the employers
expect their future employees need to have (reference is made to skills and
qualifications). The people the companies are looking for must be:- self-starters, self-motivated, self-driven
(they are good at working at their own)
- methodical, systematic, organized(they can work in a planned way)
- computer-literate
(they are good with computers)
- numerate(they are good with numbers)
- motivated(they are keen to de well in their job)
- talented(they are very good at what they do)
- team player
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(they are people who work well with other people)
VOCABULARY
to attend a course/ faculty a frecventa un curs/ facultateto be taken into account a fi luat n considerare
to graduate a absolvia graduate absolvent
graduation absolvire
in house courses cursuri organizate n cadrul companieito learn,-ed// to learn, learnt, learnt a nva pentru sine
to manage a conducemanager conductormanagement
to qualify a califica
qualification calificarepaper qualification document ce atest calificarea
to teach, taught, taught a nvaa pe cineva ceva
to think, thought, thought a gndito train a instrui pe cineva
training
instruire
work experience experien de lucru
GRAMMAR
There are some patterns that may be used and they are formed of the
following elements:
skilled at + noun John is skilled at electronics.(John se pricepe la electronic/ are ndemnare)
skilled in + -ing She is skilled in working with people.(tie s lucreze cu oamenii)
good with + noun They are good with people.(Sunt buni cu oamenii.)
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About Pay and Benefits
Giorgio is a hotel managerin Rome. Hegets paid a salary every
month. During summer, he is very busy because many tourists visit their
hotel. He works extra hours orovertime and gets good money. Those whowork in a hotel get niceperks too, for examplefree meals.
Peter works as a waiterin a restaurant. He likes hisjob. He does notget too much money (he does not earn too much). Hegets paid wages every
week. He gets a minimum wage (the lowest amount of money allowed by
law). He also gets tips (money left by customers in addition to the bill).Jane is asaleswoman in London. She gets a basic salary and
commissions (a percentage on everything she sells) If she sells more than a
certain amount, she gets extra money a bonus. There are also somebenefits she can get she gets a company car, the company makes payments
for herpension.John is specialist in pay and benefits. Compensation and
remuneration words used for talking about pay and benefits in American
English.
Compensation is used for indicating money and other benefits that aseniormanageroran employee receives when he is forced to leave the
organization. The money he gets is in the form ofa compensation payment.In Britain, executives who have very high pay andgood benefits may be
called fat cats
VOCABULARY
amount of cantitate debasic salary salar de baz
to be in addition to a fi n completare
to be allowed by law a fi permis de lege
to be busy a fi ocupatbenefits beneficii
bill nota de plat; facturbonus bonificaie
company car maina companiei
commission comision
compensation compensaie
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customer client
to earn money a ctiga bani prin muncto get, got, got a primi
to get good money a primi bani buni
to get paid a fi pltitextra hours/ overtime ore suplimentare
free meals mncare gratuit
to leave, left, left a prsi; a plecato pay, paid, paid a plti
pay plipension pensieperks avantaje
saleswoman vnztoare
tips baci
wages salariiwaiter, waitress chelner, chelneri
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About People and Their Workplaces
The people who work in a company are employees/personnel/ staff/
workers or workforce; they are on companys payroll. They are carrying outthe work.
The company has persons who are its leaders; these are the managersof the company. Their place of work is in the headquarters orhead offices.
Some of the managers have their own offices; some use to work in open
planoffices (large areas where many people work together, having each ofthem the own desk with all the necessary equipment). The administrative
staffuse to work in these offices; those who give technical help to buyers are
the technical support.Labour(in B.E.) is spelled labor(in A.E.); it is found in the pattern
labour unions which are an organization that defends the interests of theworkers; this has a British equivalent named trade unions.When the workers are not satisfied with their working conditions or wages
organize industrial actions. These can be grouped under different names
such as:- a strike, stoppage, walk out
(workers stop the work for a time)- a go-slow
(workers continue to work but more slowly than usual)
-an overtime ban
(workers refuse to work more than the normal number of hours)
The organizations use to have a human resources departmentthat has
to deal with pay, recruitment of personnel a.s.o. This department is calledhuman resources department orhuman resource managementor even
personnel department
VOCABULARY
administrative staff personal administrativgo slow o form de revolt ce se manifest prin continuarea muncii, dar n ritm lent
head office sediul firmeiheadquarters sediul firmei
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human resources resurse umane
labor/ labour fora de munc/ munca
labor unions sindicatul
open plan office birou ntr-un spaiu deschis
overtime ban refuz al muncitorilor de a lucra mai mult dect este prevzut
payroll stat de salariipersonnel personal/oameni care sunt angajai
staff personal/oameni care sunt angajai
stoppage oprirea activitii n semn de proteststrike revolt / grev
technical support personal care se ocup de ngrijirea tehnic a utilajuluitrade unions sindicatul
walk out oprirea activitii pentru o unitate de timpworkforce/ work-force/ work force for de lucru/ mn de lucru
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Some Ideas about Organization Structure
There are workers who work for the same company until their
retirement; the age of retirement varies, each country has anotherage limitfor retirement. If you want to leave a company, you must resign, i.e. to hand
in your notice.Each person works his/her way up the career ladder. Someget
promotion to jobs that are more seniorand have greater responsibility and
some are demoted (move to less senior jobs).Because of economical reasons, some companies may downsize and
delayeri.e. the management levels of a company are reduced in number and
part of the employers arefired. So the company is restructured and becomesflatter (reduced levels of management) and leaner (fewer managers, more
productive workers).Under these circumstances, costs are reduced,efficiency and profits are increased.
For reducing some costs, the company may outsource some jobs (the
jobs are done by people who are not employed by the company proper but
by another company whose workers temporarily are doing some services forthe former). For example outside companies cleans the offices, transport
goods, collects money from customers, hires personnel. The company uses
freelancers (independent people who work for different companies based on
temporary contract).
The company may ask its employeesto be very flexible
i.e. to move todifferent jobs if it is necessary. This means job insecurity, the workers may
have the feeling that they may not work too long in the job.
The way in which the workers are doing their jobs is discussed atperformance reviews.
Lets have an idea what a management scheme looks like:
a) in the UK
non executive directors : 1. chairman/ chairwoman
chief executive/ managing director
senior executives/ 1. chief financial officer/ finance directorexecutive directors 2. marketing director
3. human resources director4. IT director5. resource director
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middle managers 1. accounts department manager 2.sales manager
3.customer services manager
4. line managers ( who work in travel agency branches)
b) in the USA
non executive directors 1.president
2.chief executive officer 3.chief operating officer
senior executives 1. chief financial officer
executive directors 2. vice president marketing3. vice president human resources4. vice president research
All the directors form the board of the company and use to havemeetings in the boardroom. The non executive directors are outsiders, often
directors of other companies but have knowledge of the industry.
The marketing director is the head of marketing, the IT director is the headof IT and so on.
An executive is a manager at a quite high level, senior executive for
example.The American terminology corresponding to the English one is a bit
different. The top is occupied by a president; the chief operating officertakes care of the everyday running of the company. The senior managers
who take care of certain areas are called vice presidents
VOCABULARY
to become flatter a deveni plan (se reduce nivelele de management)to become leaner a avea mai puini manageri i mai muli muncitori productivi
board colectiv de conducere
boardroom sala de edine a colectivului de conducere
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career cariera profesional
career ladder scara de ascensiune profesional
delayering nlturarea nivelurilor managementului mijlociuto demote a retrograda
to dismiss a concedia
to downsize a reduce numrul structurilor manageriale
efficiency eficien
flexibility flexibilitate
freelancer/ freelance liber profesionist
to fire a concedia
to hand in a notice a-i depune demisiahead of a department eful unui departmentto head up a conduce un departamentto hire a angaja
in house personnel personalul angajat de firm
job insecurity instabilitatea serviciului
laid off disponibilizatmade redundant a fi fcut disponibil
offered early retirement
pensionare anticipate
to outsource a cuta ajutor/ servicii n afara companiei
performance review verificarea performanelorprofits profit
to promote a promova
promotion promovareto resign a-i da demisiato restructure a restructura
to retire a se pensiona
retirement pensionaresacked dat afar
terminated work munc ntrerupt prin concediereto work ones way up a-i croi drum pe scar profesional
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Some Ideas about a Business and the People Involved inIt
A business is an activity of producing, buying and selling goods and
services. A business may be a company, a firm, a concern which sells goodsor services.
A company may be called an enterprise underlining its risk taking nature.Businesses have different sizes:
1) small one has only one worker ( the self employed person working alone)
2)small or medium sized enterprise (SMS)3) large multinational(have activities in several countries)
Americans call large companies are called corporations. An adjective
corresponding to the noun is corporate and is often associated with nounsforming the following patterns:
corporate culture/headquarter/ image/ ladder/ profitThe noun commerce makes reference to:
1) business when this is in opposition to other nouns such as:
They are talking about literature, politics and business.
2) a governmental department which deals with business:Romanian Department of Commerce is directly involved in this.
3) names of organizations that help business:
Arad County Chamber of Commerce is organizing this spring fair.
4) the Internet business:
Electronic commerce is very much in fashion.
The adjective derived from it is commercialand it means money making
activities; here are some examples:
- commercial airline; commercial television
European countries havestate-owned companies (state owns the
companies) andgovernmental-owned companies (government is the owner
of the companies) in different industries. Some industries have beennationalizedand the state is the entire owner; some have been privatized
because the government has considered that some companies were
bureaucratic and inefficient, and sold them to investors.
The noun enterprise is used in a positive way and replaces the nounbusiness emphasizing the use of money to take risks. It may be used in
combination with other nouns such as:-free enterprise
- private enterprise
- enterprise culture
- enterprise economy
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VOCABULARY
to buy, bought, bought a cumpra
to sell, sold, sold a vinde
business afacere
concern concernenterprise intreperindere
firm firm, intreprinderea multinational company companie multinaional
small and medium enterprises intreprinderi mici i mijlocii
self-employed person angajat la propria firma
goods and services bunuri i servicii
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About Innovation, Invention and Research
George is the head ofproduct developmentat X Company; he is in
charge ofresearch and developmentat the companys research centre,outside the town. There are up to date laboratories, some of the most
innovative in the field.He likes technology and uses scientific knowledge for practical
purposes. The technology is fascinating. Their laboratories are at the leading
edge of technology.The hi-techproducts of today become the low-tech ones of tomorrow.
The products that are no longer up-to-date because they use old technology
are obsolete.Information or technology that belongs to an individual or company is
his or itsproprietary. The products made using such information may beprotected by law, bypatents, so that they could not be copied by others.
Some companies may pay to use the design, under licence, in their
own products. These payments are called royalties. In publishing, a text or a
picture may be copyright, so it cannot be used by other people without theowners permission. The publisher pay royalties to the author. The law field
related to patents and copyright is called intellectual property.
VOCABULARY
cutting edge linia de vrf
to design a proiecta
design proiect (concept, substantive nenumrabile)
a design un proiect (substantiv numrabil)
a designerproiectant
to develop a dezvolta
development dezvoltare (conceptul)
a development dezvoltare, progres
a developer cel care face un progres, developator
to innovate a inova
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innovation inovare
an innovation inovaie
an innovator inovator
intellectual property proprietate intelectual
to invent a inventa
invention invenie
an invention o invenie
an inventor un inventator
knowledge cunotine,
hi-tech tehnic nalt
low-tech tehnic de nivel sczut
obsolete nvechit, scos din circulaie
patentbrevet
product development dezvoltarea produsului
proprietary proprietar, (adj.) de proprietate
research and development cercetare i dezvoltare
research center/ centre centru de cercetare
copyright drepturi de autor
royalties drepturi/ indemnizaii de autor
under licence cu licen
technology tehnic
a technology tehnologie
a technologist tehnolog
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About Materials and Suppliers
X makes washing machines. It uses raw materialfor making some of
the components and parts used in its products. The other components aremade by other companies.
Material and parts are some of the inputs. The others are labour(workers and managers) and capital(money); knowledge is also very
important.
The goods that are being made are work-in-progress; the goods thathave been made arefinished goods. Quantities of raw materials,
components, work-in-progress and finished goods in a particular place are
stocks.
X receives materials and components from Zsuppliers orpartners.
The company does moresubcontracting, using outside suppliers whichprovide components and services.
It costs money to keep components and goods in stock; stocks have to
befinaced(paid for),stored(in special buildings called warehouses) and
handled(moved from one place to the other). X asks its suppliers to providecomponentsjust-in-time when they are needed.
It is a kind oflean production orlean manufacturing, the things aredone as quickly as possible without waste
VOCABULARY
Capital capital/ bani
components elemente component
to finance a finana
finished goods produse finite
to handle a manipula/ a mnuijust-in-time metoda de producieexact la timp are ca scop reducerea risipei cauzate
de supraproducie
knowledge informaii
labour munc/ for de munc
lean production producie monitorizat
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parts elemente componente
raw material materie prim
stocks stocuri, rezerve
to store a depozita
to subcontract a subcontracta
supplier furnizor
to suppl y a furniza
warehouse depozit
waste deseuri
work-in-progress producie/ stocuri n curs de execuie
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About Buyers, Sellers and the Market
People who buy goods and services are called customers. One can talk
about users orend-users of a product or service, who may not be the peoplewho actually buy it.
People who buy products or services for their own use are consumers.A person or an organization that buys something is a buyer/ purchaser. The
person in a company who is responsible for buying goods which are used or
sold by the company may be buying manager/ purchasing manager.Somebody who sells is calledseller. Those who sell things in the
streets are calledstreet vendors.
The market, free market, market economy define an economic systemwhere prices, jobs, wages are not controlled by the state; these depend on
what people want to buy and how much do they want to pay for them.
VOCABULARY
to buy, bought, bought a cumpra
buyer cumprtor
buying manager manager care se ocup cu aprovizionarea
to purchase a achiziiona
purchaser achizitor
purchasing manager manager care face achiziii
to sell, sold, sold a vinde
seller/ vendor vnztor
street vendor vnztor stradal
Common Market Piaa Comun
consumer consumatorcustomer client
end-user utilizator final
user utilizator
to market a product a face un plan bazat pe combinaia celor 4 P
marketpiaa
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marketer/ marketer cumprtor sau vnztor, ntr-o pia, a unui anumit produs
free market piaa liber
market economy economie de pia
market forces forele cererii i ofertei care determin , n piaa liber, cantitateadisponibil dintr-un anumit produs
market pressures presiunea pieei
market growth creterea pieei
market leader liderul pieei
market orientation orientarea pe care o ia piaa
marketability vandabilitate
marketable vandabil
marketplace productorii i cumprtorii dintr-o anumit economie de piaa i felul ncare ei se comport
market price preul pieei
market share cota de piamarket segment segment de pia
market segmentation segmentarea pieei
market reform schimbrile pe care le face guvernul unei economii astfel nct ea sdevin o economie de pia
to enter/ to penetrate a market a ncepe vnzarea ntr-un loc pentru prima dat
to abandon/ to get out of/ to leave a market a nceta vnzarea ntr-un anumit locto dominate a market a fi cea mai important companie care face vnzari n acel loc
to monopolize a market a fi singura companie care vinde acolo
to drive another company away from a market a determina pe alii s prseascpiaa
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About Marketing and Market Orientation
Marketingis a process of planning, designing, pricing, promoting and
distributing ideas, goods, services in order to satisfy customer needs in orderto make a profit.
Companies point out how the special characteristics of their products
and services have particularbenefits that satisfy the customers needs.Non profit organizations persuade people not to smoke, not to use
drogues or to give money for certain charitable actions; they also usemarketing techniques.
Even government departments talk about their activities in terms of
marketing concepts.
The four Ps used by marketing are:
- productmeans deciding what to sell- price means deciding what price to charge- place means deciding how it will be distributed and where people will buy
it
- promotion means deciding how the product will be supported withadvertising, special activities,
The four Ps form the marketing mix, activities that are to be combined
in order to sell successfully a product
VOCABULARY
Benefitbeneficiu
customer needs nevoile clienilor
marketing concept concept de marketing
marketing mix mixul de marketing
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About the Four Ps
1. Products
Goods can indicate materials and components used to make productsor the products that are made. Types of goods are to be taken into account:
- consumer durables are consumer goods that last a long time (cars,engines..)
-fast moving consumer goods are goods that sell quickly (food).
A company can give a name to its goods according to which they canbe easily recognized; they get a brand. It can be the name of the company
itself, the make of the product; products like cars, can be referred to the
make and the model Fordis the make andKA is the model.Brand recognition is how people recognize the brand and the idea
they have about the brand is brand image. The company manager that is incharge with this is called brand manager. Brandingis the activity ofcreating brands and keeping them in the customers minds. Each brand has
its brand identity, the people think of the product in a certain way in relation
to other brands. The product that has the retailers own name on it is anown-brand product. Products that are not brandeddo not have a brand name
aregeneric products
VOCABULARY
to brand a marca un produs
brand marc
brand name numele mrcii
branding mrcare
brand identity identitatea unei mrci
brand image imaginea unei mrci
brand loyalty loialitatea consumatorulor fa de un anumit produsbrand recognition recunoaterea unei mrci
brand manager director responsabil cu marketingul i promovarea unei anumitemrci de produs
own brand productprodus vndut sub numele sau marca nregistrat a unuidistribuitor
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consumer durables bunuri de larg consum de folosin ndelungat
fast moving consumer goods bunuri de consum perisabile
generic products produs care nu poart nici numele productorului nici numelevnztorului
make marca de fabricaie
2. Price
Some goods are low-priced; it means that the seller charges low pricesall the time. They are cheap and are ofpoor quality. Some goods are high-
pricedand others are mid-priced, these are not cheap and not expensive.
There are loss leaders i.e. cheap items meant to attract customers in.Their prices are below the official list price/ recommended retail price. This
is a policy of discounting/ selling at a discountto the list price.Products exist in different models; some are basic, some are more
sophisticated. The cheapest are low-end/bottom-end. The most expensive are
high-endortop-end.There is a mass marketthat describes goods that are sold in large
quantities and the people who buy them. There is a niche/ niche market
which makes reference to a small group of buyers who have special needsand require a certain type of goods sold at profitable prices.
VOCABULARY
to price a fixa preul
price pre
high-pricedpre ridicat
high-end
top-end
low-pricedpre sczut
low- end
bottom-end
loss leaderprodus vndut la pre redus, n pierdere, doar pentru a atrage clienii
list price lista de preuri
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recommended retail price pre recomandat la vnzarea cu amnuntul
cheap ieftin
expensive scump
discount rabat comercial
to sell at a discount a vinde la pre redus
niche ni
niche market un grup redus de cumprtori cu nevoi speciale
mass market consumatorii de pe o anumit pia
price boom o perioada cnd preurile urc
price controls control asupra preurilor fcut de guvern pentru limitarea urcrii lor
price cut reducere a preului
price hike o cretere a preuluiprice war rzboiul preurilor provocat de companiile care se afl n competiie
price leaderpreul ridicat/ sczut practicat pentru prima dat de o companie
price tag eticheta ataat unui produs care indic valoarea produsului, preul produsului
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3. Place
Ashop or astore is where people buy things. Companies call them
retail outletorsales outlet. There are different types of shops, here there are:
- chain store, part of a group of shops, all with the same name- convenience store, a small shop in the residential area, open long hours
- deep discounter, a supermarket with very low prices
- department store, a very large shop with a wide variety of goods, in thetown centre
- drugstore, a shop in a town centre, in the USA, that sells medicines; youcan find coffee and meals too
- hypermarket, a very large shop with a wide variety of goods, it is outside
the town-supermarket, a very large shop that sells mainly food.
There areshopping centres; they are purpose built area or a building,in the centre of the town, which has a number of shops. Outside the town,there are malls which have special parking places.
Franchises are owned by the people who run them; they sell the goods
of one company. The latter provides goods, organizes advertising, offershelp and support; many restaurants are run like this.
VOCABULARY
franchise licen acordat unui productor, distribuitor, comerciant, care le permite sproduc sau s vnd un anumit produs
franchisee titularul unei licene pltete celui ce i-o acord, o cot din vnzri, adeseai o sum global, ca avans
franchisor cel ce d licena i primete cot din vnzri
shop magazin
store depozit, magazie, antrepozit;stores magazin universal
outletpia de desfacere
retailer negustor cu amnuntul
retail outlet magazine cu amnuntul
sales outlet
dealer negustor, comerciant
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retailer detailist
wholesaler angrosist
distributor distribuitor
4. Promotion
Promotion makes reference to all the activities organized forsupporting the sale of a product, including advertising.A promotion
describes:
- a special offersuch as a discountor reduced price- a free sample i.e a small amount of the product to try or taste
- a free gift; it is given with the product- competition with prices
The supermarkets and airlines give loyalty cards to the customers; the
more you spend, the more points you get and you have the possibility to
exchange these points for free goods or flights.There are cross promotions i.e. you buy one product and are
recommended to buy another product that goes with it.The companies hiresalespeople who are to visit customers and
persuade them to buy companys products. Each member of thesalesforce is
responsible for a certain region which is his/hersales area/sales territory.
The head of the sales force is calledsales manager.
Advertisingsupports the selling of products; the company organizes
an advertising campaign and uses advertisements, TV commercials, neonsigns, special displays, open air hoardings, leaflets.
VOCABULARY
to advertise a face reclam/ publicitate
advertising reclam, publicitate
advertising agency agenie publicitar
advertisement/ad reclam, anun
advertising campaign campanie publicitar
leaflet foaie volant, prospect
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neon sign reclam cu neon
open air hoarding reclam fcut n aer liber
special display etalare special a produselor
tv commercial reclam comercial fcut de canal de televiziune
promotion promovare
to promote a difuza, a promova
a promotion o promovare/ lansare/ difuzare a unui produs
discount rabat comercial
loyalty card card de fidelizare, clienii primesc puncte pentru achiziii repetate
cross promotion cumprarea unui produs este nsoit de recomandarea pentru ncun produs
sales people personae care fac vnzrisales woman vnztoare
salesman vnztor
sales area/ territory zon pe care se face operaiunea de vnzare
sales force fora de munc angajat pentru a face vnzri
sales managerdirector de vnzare
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About Sales and Costs
Sales means what a business sells and the money it receives from it.
Any business owner has in view thesales figures and turnoverof hisbusiness. These must be good so that the revenue should be high. The
owners target is to be reached. He estimates hissales growth taking into
account the situation of the economy, the demand for goods/ products andall the other factors. On their ground, he can speak about sales forecast
The money spent by a business are its costs; they can be divided into:direct costs, fixed costs, variable costs, costs of goods, indirect costs.
Indirect costs can be called expenses.
Here is a pattern of calculation: selling price=Eu 50,000
direct production costs= Eu 35,000selling price - direct production costs =gross margin50,000 - 35,000 = 15,000
total costs = Eu 40,000
selling price - total costs = net margin/ profit margin/mark-up50,000 - 40,000 = 10,000
The net margin or profit margin is given as a percentage of the selling price
and mark-up is given as a percentage of the total costs.
Vocabulary
to be on sale a fi de vnzare
costs of goods costuri variabile (pentru materiale i salarii)
demand for goods/products cerere de produse
direct costs cheltuieli directe
direct production costs costuri directe de producie
expenses cheltuielifixed costs cheltuieli fixe
gross margin diferena dintre ncasrile din vnzri ale unei firme i costurilebunurilor vandute
indirect costs costuri indirecte
to make a sale a face vnzare
net margin/ profit margin/mark-up marja brut
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to reach a atinge
revenue venit, ctig, suma prevzut n buget ce poate fi folosit pentru cheltuielioperaionale
to receive a primi
a sale o perioad cnd un magazine scoate la vnzare produse la pre mai mic
the sales perioad cnd mai multe magazine vnd produse la preuri mai mici
Sales departamentul de vnzri dintr-o companie
sales figure cifra de vnzri
sales forecast estimare a volumelor viitoare ale vnzrilor i ale veniturilor unei firme
sales growth creterea vnzrilor
to sell sold, solda vinde
selling price pre de vnzare
target int
turnover cifr de afaceri
unit sales numrul produselor vndutevariable costs cheltuieli variabile
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About Assets, Liabilities, Balance Sheet
An assetis something that has value or the power to earn money.
There different types of assets:
current assets money in the bank, investments that can be turned
into money, money that customers owe, stocks of goods that are going
to be sold
fixed assets - equipment, machinery, building, land
If a company is sold as a going concern, it has value as a profit
making operation-one that can make a profit.
Assets such as equipments, machineries lose value over time as theywear outor are no longer up to date. This phenomenon is called
depreciation oramortization. We depreciate computers or amortize them
over a very short period of time. A charge for this is shown in thefinancialrecord.The value of it is written down each year and written off completely
at the end. The value of an asset is its book value.
Liabilities are the company debts to suppliers, lenders, tax authorities.All the debts that are to be paid within a year are current liabilities. The
debts are to be paid within a year, these are called current liabilities. Those
that are paid in more than a year are long term liabilities, an example beingthe bank loans.
A company has balance sheets which are presentations of assets and
liabilities at the end of a particular period of time, usually after 12 months ofthe financial year
VOCABULARY
Asset posesiune tangibil sau intangibil care are valoare pentru posesorul su
Balance sheet bilan contabil
Book value valoare contabil a unui active dup cum apare n registrele contabile alefirmei
Charge ipotec asupra unui teren,proprietiCurrentassets active care fac parte din fondul de rulment
Fixed assets mijloace fixeIntangible assets active care nu pot fi vzute sau atinse
Going concernprincipiu al contabilitii care presupune c firmele sunt afaceri
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Liabilities datorii, obligaii rentabile atunci cnd circumstanele nu demonstreazcontrariul
to write off a reduce valoarea unui activ la zero ntr-un bilanWrite downvalue valoarea unui activ, calculat n scopuri fiscale
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About Accounts, Results
Peter is an accountant and works in a big accountancy firm. He looks
at the financial records or accounts of the company. He works with the
accountants and the bookkeepers of the company.Sometimes he acts as an auditor, a specialist outside accountants who
audits a companys accounts. At the end of a particular period, he checksthem to see if they give a true and fair view.
When a company presents its results in a way that makes them look better
than they are, it may be accused of creative accounting or window dressing.The company reports its performances in a particular period of time.
Results for a particular year are shown in the companys annual report. It
contains a profit and loss account. If a company makes more money than itspends, it makes a profit- it makes a loss. A company may show a profit for
a particular period because of the way it presents its activity under theaccounting standards- accounting rules of one company, and a loss under therules of another. The company operates in many countries.
A pre tax profit or a pre tax loss is the one before the tax is calculated.
The company has a gross profit, it is before charges like these are takenaway and a net profit is afterwards. The final figure for profit or loss is what
people call the bottom line.If the company makes a loss then it is in red or with red ink
VOCABULARY
Annual reportraportare financiar a unei organizaii, publicat, anual
Accountant contabil
Accountancy firm firm de contabilitateAudit examinare independent a rapoartelor financiare ale unei organizaii i
formularea ulterioar a unei opinii
Auditorpersoan sau firm care face auditul unei organizaiibe in red a avea minus
bottom line. valoarea profitului utilizat la calcularea ctigurilor per aciune a uneicompanii
Creative accounting form exagerat de optimist, dei nu ilegal
Financial records nregistrri financiare
Book keeping contabilitate, domeniu care se ocup de evidena registrelor contabil
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gross profit diferena dintre ncasrile obinute din vnzri ale unei firme i costurilebunurilor vndute
Loss pierdere
A pre tax profitprofit calculat naintea caculrii taxelor
Profit and loss account eviden a profiturilor i pierderilor
True and fair view imagine real i exact , complet
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About Share Capital and Debt
Capital is the money a company uses for operating and developing.
For getting the money it needs, the company can use share capital or loan
capital from investors. They are persons or organizations who invest in thecompany i.e. put money in hoping to make more money.
Share capital is put by shareholders who put up money and holdshares in the company . A share represents ownership of a small part of the
company. Shareholders get sums of money, periodically, called dividents,
based on the profit of the company during the relevant period. Capital in theform of share is also called equity.
Investors can lend money but they do not own a small part of the
company. This is a loan capital and the one who lends the money is thelender.The company that needs the money, borrows it from a borrower, and
the money borrowed are reffered to as a debt. The total amount of companydebt is its indebtedness.
The sum of money borrowed is the principal. The company has to pay
interest for the borrowed money, whether it has a profit or not.
Lending money to companies is done in the form of bonds ordebentures, loans with special conditions. One of the conditions is that the
borrower must have collateral or security, it means that , if the borrowercannot pay back the money to the lender, the latter can take equipment,
properties and sell them in order to get his money back.
Many companies have both loan and share capital. The amount of loancapital a company has in relation to its share capital is its leverage. A
company with a lot of borrowing in relation to its share capital is highly
leveraged or highly geared. The one that has difficulty in making paymentson its debt is overleveraged.
VOCABULARY
Bond obligaiune, document emis de un debitor unui creditor
To borrow a lua bani cu mprumut
Borrower persoana , organizaia care mprumut banii
Collateral categorie de titluri de valoare security- n special impersonal, precumpoliele de asigurare de via i aciunile, utilizate pentru a garanta unmprumut
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Debenture cea mai rspndit form de mprumut pe termen lung, contractat de ctreo companie
Debt datorie
Gearing capital efectul de levier, indicele raportului dintre fondurile mprumutate petermen lung cu dobnd fix
Indebtedness sum datoratInterest dobnd
Equity un interes deinut ntr-un activ; activele nete ale unei companii; capital propriual unei companii
To hold shares a deine aciuni
Leverage efect de levier, utilizare de ctre o companie a unor active cu o valoarelimitat n scopul garantrii unor mprumuturi substaniale pentru a-i finanaafacerile
A loan mprumut
To loan a mprumuta
To lend, lent, lent a da cu mprumut
Lender persoana care ofer banii mprumutai
Loan capital capital mprumutat
Principal mandant,sum pentru care se calculeaz dobnda
To put up money a investi bani
Share aciune, parte social
Share capital capital social, parte a capitalului unei companii care apare din emisiuneade aciuni
Shareholder acionar, proprietar de aciuni ntr-o companie cu rspundere limitat
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About Success and Failure
X is a successful company. In some years, it has distributed some
profits or earnings to its shareholders. It has kept part of its profits in the
form of retained earnings and built up itscash reserves. These reserves maybe used for investments or for making aquisitions, for example buying other
companies.Y is in financial trouble and is described as sick, ailing and troubled. An
expert in turning round is asked to come . There may be a turnaround and
the company may recover. If there is no recovery, the company maycollapse. The company in trouble may be bought by someone . This may be
a bailout.
If a company is in serious financial difficulties, it has to take seriouslegal steps. In the States, it may ask a court to give it time to reorganize by
filing for bankruptcy protection from creditors, the people it owes money to.In Britain, a company that is involved may go into administration under themanagement of an outside specialist called administrator.
A company that cannot be saved goes into liquidation or into
receivership. Receivers are specialists who sell the assets of the companyand pay what they can to creditors. Under these circumstances, the company
is wound up and ceases trading. The company that cannot be saved goesbankrupt.
VOCABULARY
Aquisitions achiziii
Bail cauiune, garanie
Bailout ajutor financiar oferit unei economii sau companii care se apropie de colaps
Bankruptcy faliment
Cash reserves rezerve de bani lichiziTo cease trading a nceta negoul
Debt datorie
Debt burden datoria companiei, mai ales cnd sunt considerate o problem
Debt crisis cnd o companie are serioase dificulti n replata datoriei
Debt default cnd o companie rateaz replata datoriei
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Debt repayment plata datoriei
Debt servicing plata datoriei
Debt rescheduling cnd o companie i convinge pe cei care au dat bani n mprumut
Debt restructuring s schimbe datele i termenii de replat
To distribute a distribui
Earnings ctiguri
Receiver consignatorTo repay, default on, service a debta plti datoria
To reschedule restructure a debt a schimba datele de plat
Receivership administrare judiciar, situaie n care un creditor deine o ipotec sau ogaranie asupra proprietii unei companii, iar n urma neplii este desemnatun administrator judiciar pentru a converti activele respective n bani i arambursa datoria
Retained earnings profit net disponibil pentru distribuire, mai puin sumele dejadistribuite companieiTurnaround strategie creat pentru a opri declinul rentabilitii unei firme sau a unei
filiale, permindu+i acesteia s realizeze n viitor un profit durabil
Trouble probleme
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About Mergers, Takeovers and Sell-offs
Two or more companis may work together in a particular area by
forming an alliance or joint venture.
X and Z have announced that they are going to merge. It will be thebiggest merger in the field.
Y is to split into two and demerge its fixed line and whole business aspart of on-going restructuring.
B is to aquire A for ....euros. It is a friendly bid as ASI are likely to
welcome it and agree to it. The takeover comes a year after ASI rejected ahostile bid, un unwanted one.
D is doing badly and may become the victim of a predator. There are
rumours of a possible takeover by M . D is exposed to acquisition and maybe prey to a big international bank.
N makes acquisitions of retail and non-retail businesses and becomesthe parent company in a conglomerate or combine with the other businessesas its subsidiaries.
VOCABULARY
To aquire a achiziiona
Acquisition achiziie
Bid pre, ncercare de a cumpra capital social al altei firme
Conglomerate grup alctuit din companii diferite, conduse de o companie holding
To demerge a se diviza i funciona ca uniti independente
Joint venture intreprindere comercial, nfiinat de ctre dou sau mai multe pri, deobicei pe termen scurt.
A majority stake, interest, holdingo deinere de peste 50 % din aciunile uneicompanii
To merge a fuzionaA minority stake, interst, holding o deinere de sub 50 % din aciunile unei
companii
Merger combinaie a dou sau mai multe firme, de nivel echivalent, care are dreptrezultat crearea unei noi entiti format din firmele combinate.
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Parent company compania mam
Predator acaparator
Prey prad
A stake, an interest, a holding in a company aciunile pe care un investitor le arentr-o companie
Subsidiary filial
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About Financial Centres
A financial centre is a place where there are many banks and
financial institutions. The financial centre of London is called the City and
that of New York is Wall Street.Financial centres draw investors and businesses that need the
formers money. A speculator is an investor who wants to make a quickprofit rather than invest over a longer period of time.
Brokers, dealers and traders buy and sell for investors and sometimes
for themselves or the organizations they work for.To develop a company one needs capital, so he can decide to float the
company in a flotation. The company,s shares are issued and listed or quoted
for the first time on the stock market.The financial products (commercial papers, bonds, currencies,
commodities) are traded directly between dealers by phone and computer.Commodities are traded in a commercial exchange. Shares, bonds andcommercial papers are securities and the financial institutions that deal in
them are securities houses.
A future contract is an agreement giving obligation to sell a fixedamount of a security or commodity at a particular price at a particular future
time or in a period of future time.An options contract is an agreement giving the right but not the
obligation to buy or sell a security or commodity at a particular price at a
particular future time. These contracts are derivatives.
VOCABULARY
Agreement contract
Broker un agent care pune n legtur dou pri, oferindu+le posibilitatea de a ncheiaun contract intermediat de acesta
Bonds obligaiune, un document emis de un debitor unui creditorCommercial paper form de mprumut negarantat, cu risc sczut , pe termen scurt
Commodities metale i produse agricole
Currencies valute
Dealer comerciant de orice fel. Persoan care se angajeaz n activiti comerciale pecont propriu, la o burs de valori,mrfuri...spre deosebire de un brokerv sau unagent de schimb
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Derivative instrument financiar al crui pre are o puternic legtur cu o marf,moned naional ori instrument financiar nrudit.
To float a company procesul nfiinrii unei societi, cnd publicul este invitat pentruprima dat s se nscrie i s cumpere aciuni.
To float the company a vinde aciuni ale firmei pentru prima dat
Investor investitorSpeculator speculant
A share aciune, parte social
Stock titlu devaloare cu dobnd fix
Stock market, stockmarketburs
Tradernegustor
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About Trading
If there is a demand for shares in a company, because the company
is doing well, its share price goes up. If not, the price goes down. The overall
value of shares traded on a stock market is shown by an index. Here aresome important indexes:
London: FTSE (Footsie) the Financial Times Stock Exchange index
New York: Down Jones Industrial Average especially long
established old economy companies
New York: NASDAQ especially hi-tech new economy companies
Paris: CAC 40
Frankfurt: DAX
Hong Kong: Hang Seng
Tokyo: NikkeiTrading has been heavy on the stock market with very high
turnover. There have been spectacular gains.
The bull market seems set to continue, after yesterdays record, high at theclose. Dealers seem bullish and expect the Dow to go through thebarrier
soon.There is panic selling on the NY Stock Exchange as prices fall. There
have been a spectacular decline. The bear market continues with prices set to
fall further in the coming days. Dealers are bearish with many saying there isno sign of a rally. If prices continue to fall, there may be another stock
market collapse or crash.
VOCABULARY
At the close la nchidere
Bearun intermediary la o burs de valori, pe o pia valutar sau de mrfuri care atept
scderea preurilorBear market o pia n care un comerciant va fi mai dispus s vnd titluri de valoare,
valut sau bunuri
Bull marketbrokerii acioneaz ca ageni att pentru vnztori ct i pentrucumprtori, precum i ca mandani
Gain ctig
To go down to go up a urca a cobor
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Overall value valoare total
Rally o cretere a preurilor pe o pia de tipul unei burse de valori sau de mrfuri, dupo scdere a acestora
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About Finance and Economics
Finance is
Money provided or lent for a particular purpose Management of money by countries, people, organizations
Study of money management
High finance involves large sums of money used by governments and
large companies. Finances of a person or an organization are the money they
have and how it is managed.
Economics is
Study of how money works and is used
Calculations of whether a particular activity will be profitableA profitable activity is economic, an unprofitable activity is uneconomic.If something is economical, it is cheap to buy, to use or to do. If not, it is
uneconomical.
Economic indicators are figures showing how well a countrys economy isworking.
Inflation is rising prices and the rate at which they are rising is theinflation rate. Adj. inflationaryThe people who have no jobs are unemployed persons. They are out of work
or jobless.
The balance of payments is the difference between the money cominginto a country and that going out. The trade balance is the difference
between payments for imports and payments for exports. When a countryexports more than it imports it has a surplus. If it is the opposite situation, it
has a trade deficit. The amount of this surplus or deficit is the trade gap.
Economic output is the value of goods and services produced in a countryor area. Gross domestic product is the value of all the goods and services
produced in a particular country.
The size of an economy is measured in terms of gross national product. It
includes payments from abroad, for example from investments.Growth is when output in the economy increases. The groth rate is the speedat which a companys economy grows and gets bigger.
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VOCABULARY
Amount cantitate
Balance of paymentbalana de pli
To come into to go out a intra a iei
Economic output randament, productivitate
Gross domestic productprodus intern brut
Gross national product produs national brut
To rise price a crete preul
Trade balance balancomercial
Trade gap d ecalaj comercial
The unemployed, the jobles omerii