2.Afci, seminar

7/30/2019 2.Afci, seminar.

1/49

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


6/49

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.)


10/49

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


12/49

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


14/49

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


17/49

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


18/49

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


19/49

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


21/49

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


23/49

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


25/49

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


26/49

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

Documents

2.Afci, seminar