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/ a teacher. 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 between design 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+ -in una din responsabiliti este de to deal, dealt, dealt a avea de-a face cu to design a proiecta design proiect designer proiectant to go, went gone a merge to leave, left, left a prsi, a pleca

to manage, -ed a conduce manager manager management to run, ran, run 1. a fugi 2. a conduce to run a department a conduce un department to work, -ed a lucra to arrive at work a ajunge la serviciu to be at work a fi la serviciu to be off work a lipsi de la serviciu to be in work a fi n cmpul muncii to be out of work a fi omer to get to work a ajunge la serviciu to go to work a merge la serviciu to have work = to have a job a avea un serviciu to leave for work a pleca la serviciu to work for a lucra pentru cineva/ la o firm to work on a lucra la to 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 munca worker 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 o
jumtate de norm

a permanent job/ work a temporary job/ work munca permanent munca

temporar

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)

Names of vehicles used for transport are preceded by the preposition by: by train, by bus, by car Nouns ended in y, 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 by means 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.

About Ways of Working Peter is an office worker in 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 out every day. All the employees of the company have to do this. Jane works in an office; she is an engineer. The company she works for uses a system of flextime, 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 a certain 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 city but 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 home using the computer and the internet but he likes going into the office and working with the mates. George works in a computer plant. He works in shifts. He may be on the day shift one week and the night shift the next week. It is difficult changing the shifts as he has problems with sleeping and eating hours.

VOCABULARY office worker funcionar working 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 naveta commuter navetist shift; day/ night shift tura de zi/ noapte to work in shifts a lucra pe ture to change shifts a schimba turele mate coleg

GRAMMAR Attributes that may be used in front of the nouns job 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 job is a job that begins at nine oclock and ends at five oclock

Something about Recruitment and Selection of Personnel To find people for different jobs means to recruit or hire them. The person who is recruited is a recruit or a hire. Any company hires or employs personnel; these persons are called employees and the one who does the action of employing is an employer. Some companies hire employees directly, other ones use outside recruiters/ recruitment agencies or headhunters. 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 job and John seems to be interested in. Once he has found out about it, John applied for the job, sending an application letter and his CV (the story of his life). The head of the recruitment has 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 the applicants ( their experience of work, educational qualifications). The candidates are then invited to group discussions. Then individual interviews with 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 references are 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 they accept the job, they are hired but if they turned it down, other persons are looked for.

VOCABULARY to recruit a recruta a recruit persoan recrutat recruiter persoan care recruteaz (A.E). to hire a angaja a hire persoan angajat

to employ a angaja employer angajator employee persoan angajat employment angajare to headhunt a cuta personal a 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 ofa driver ofer van driver oferul dubiei to accept a job a accepta un serviciu to apply for a job a solicita un serviciu applicant solicitant application letter scrisoare de solicitare to assess a evalua cover/ covering letter scrisoare nsoitoare curriculum vitae= CV to enclose a anexa enclosure anex head of the recruitment/ personnel department ef al serviciului personal reference caracterizare, referin referee persoana care d o caracterizare situation vacant pages pagini cu servicii disponibile to look for a job a cuta un serviciu to offer a job a oferi un serviciu to send, sent, sent a trimite to shortlist a ntocmi o list mai scurt to turn down a refuza un serviciu

Something about Skills and Qualifications The graduates (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 doesnt make them specialists in a certain domain. It is useful if you train them as scientists, in general, or better said, train them for a specific job. Good managers are also needed; if they dont attend a specialized faculty in this field, they may attend in house training courses within the company they are working for. Management development and management training are to be taken into account. The people need skills. A skill is the ability to do something well because you have learned how to do it and practiced it. Taking into account the skills the people have, as well as the jobs they practice, one may use some adjectives which are to characterize the two, namely: - highly skilled persons or jobs requiring highly skilled persons, skilled persons or jobs requiring highly skilled person - semi-skilled persons or jobs requiring highly skilled persons - unskilled Speaking 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

(they are people who work well with other people)

VOCABULARY to attend a course/ faculty a frecventa un curs/ facultate to be taken into account a fi luat n considerare to graduate a absolvi a graduate absolvent graduation absolvire in house courses cursuri organizate n cadrul companiei to learn,-ed// to learn, learnt, learnt a nva pentru sine to manage a conduce manager conductor management to qualify a califica qualification calificare paper qualification document ce atest calificarea to teach, taught, taught a nvaa pe cineva ceva to think, thought, thought a gndi to 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.)

About Pay and Benefits Giorgio is a hotel manager in Rome. He gets paid a salary every month. During summer, he is very busy because many tourists visit their hotel. He works extra hours or overtime and gets good money. Those who work in a hotel get nice perks too, for example free meals. Peter works as a waiter in a restaurant. He likes his job. He does not get too much money (he does not earn too much). He gets 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 a saleswoman 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 some benefits she can get she gets a company car, the company makes payments for her pension. 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 a senior manager or an employee receives when he is forced to leave the organization. The money he gets is in the form of a compensation payment. In Britain, executives who have very high pay and good benefits may be called fat cats

VOCABULARY amount of cantitate de basic 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 ocupat benefits beneficii bill nota de plat; factur bonus bonificaie company car maina companiei commission comision compensation compensaie

customer client to earn money a ctiga bani prin munc to get, got, got a primi to get good money a primi bani buni to get paid a fi pltit extra hours/ overtime ore suplimentare free meals mncare gratuit to leave, left, left a prsi; a pleca to pay, paid, paid a plti pay pli pension pensie perks avantaje saleswoman vnztoare tips baci wages salarii waiter, waitress chelner, chelneri

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 out the work. The company has persons who are its leaders; these are the managers of the company. Their place of work is in the headquarters or head offices. Some of the managers have their own offices; some use to work in open plan offices (large areas where many people work together, having each of them the own desk with all the necessary equipment). The administrative staff use 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 the workers; 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 department that has to deal with pay, recruitment of personnel a.s.o. This department is called human resources department or human resource management or even personnel department

VOCABULARY administrative staff personal administrativ go slow o form de revolt ce se manifest prin continuarea muncii, dar n ritm lent head office sediul firmei headquarters sediul firmei

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 salarii personnel personal/oameni care sunt angajai staff personal/oameni care sunt angajai stoppage oprirea activitii n semn de protest strike revolt / grev technical support personal care se ocup de ngrijirea tehnic a utilajului trade unions sindicatul walk out oprirea activitii pentru o unitate de timp workforce/ work-force/ work force for de lucru/ mn de lucru

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 another age limit for 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. Some get promotion to jobs that are more senior and have greater responsibility and some are demoted (move to less senior jobs). Because of economical reasons, some companies may downsize and delayer i.e. the management levels of a company are reduced in number and part of the employers are fired. So the company is restructured and becomes flatter (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 for the 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 employees to be very flexible i.e. to move to different 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 at performance 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/ executive directors 1. 2. 3. 4. 5. chief financial officer/ finance director marketing director human resources director IT director resource director

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 executive directors 1. chief financial officer 2. vice president marketing 3. vice president human resources 4. vice president research

All the directors form the board of the company and use to have meetings 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 head of 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 officer takes 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

career cariera profesional career ladder scara de ascensiune profesional delayering nlturarea nivelurilor managementului mijlociu to 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 demisia head of a department eful unui department to head up a conduce un departament to hire a angaja in house personnel personalul angajat de firm job insecurity instabilitatea serviciului laid off disponibilizat made redundant a fi fcut disponibil offered early retirement pensionare anticipate to outsource a cuta ajutor/ servicii n afara companiei performance review verificarea performanelor profits profit to promote a promova promotion promovare to resign a-i da demisia to restructure a restructura to retire a se pensiona retirement pensionare sacked dat afar terminated work munc ntrerupt prin concediere to work ones way up a-i croi drum pe scar profesional

Some Ideas about a Business and the People Involved in It 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 goods or 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 nouns forming the following patterns: corporate culture/headquarter/ image/ ladder/ profit The 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 commercial and it means money making activities; here are some examples: - commercial airline; commercial television European countries have state-owned companies (state owns the companies) and governmental-owned companies (government is the owner of the companies) in different industries. Some industries have been nationalized and 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 noun business 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

VOCABULARY to buy, bought, bought a cumpra to sell, sold, sold a vinde business afacere concern concern enterprise intreperindere firm firm, intreprindere a 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

About Innovation, Invention and Research George is the head of product development at X Company; he is in charge of research and development at 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-tech products 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 its proprietary. The products made using such information may be protected by law, by patents, 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 the owners 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 designer proiectant to develop a dezvolta development dezvoltare (conceptul) a development dezvoltare, progres a developer cel care face un progres, developator to innovate a inova

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 patent brevet 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

About Materials and Suppliers X makes washing machines. It uses raw material for making some of the components and parts used in its products. The other components are made 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 that have been made are finished goods. Quantities of raw materials, components, work-in-progress and finished goods in a particular place are stocks. X receives materials and components from Z suppliers or partners. The company does more subcontracting, using outside suppliers which provide components and services. It costs money to keep components and goods in stock; stocks have to be finaced (paid for), stored (in special buildings called warehouses) and handled (moved from one place to the other). X asks its suppliers to provide components just-in-time when they are needed. It is a kind of lean production or lean manufacturing, the things are done 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 mnui just-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

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

About Buyers, Sellers and the Market People who buy goods and services are called customers. One can talk about users or end-users of a product or service, who may not be the people who 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 called seller. Those who sell things in the streets are called street vendors. The market, free market, market economy define an economic system where 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 consumator customer client end-user utilizator final user utilizator to market a product a face un plan bazat pe combinaia celor 4 P market piaa

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, cantitatea
disponibil 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 n care ei se comport market price preul pieei market share cota de pia market segment segment de pia market segmentation segmentarea pieei market reform schimbrile pe care le face guvernul unei economii astfel nct ea s devin 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 loc to 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 prseasc
piaa

About Marketing and Market Orientation Marketing is a process of planning, designing, pricing, promoting and distributing ideas, goods, services in order to satisfy customer needs in order to make a profit. Companies point out how the special characteristics of their products and services have particular benefits 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 use marketing techniques. Even government departments talk about their activities in terms of marketing concepts. The four Ps used by marketing are: - product means 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 with advertising, special activities, The four Ps form the marketing mix, activities that are to be combined in order to sell successfully a product

VOCABULARY Benefit beneficiu customer needs nevoile clienilor marketing concept concept de marketing marketing mix mixul de marketing

About the Four Ps 1. Products Goods can indicate materials and components used to make products or 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 can be 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 Ford is the make and KA 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 in charge with this is called brand manager. Branding is the activity of creating 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 an own-brand product. Products that are not branded do not have a brand name are generic 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 produs brand recognition recunoaterea unei mrci brand manager director responsabil cu marketingul i promovarea unei anumite
mrci de produs own brand product produs vndut sub numele sau marca nregistrat a unui distribuitor

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 numele
vnztorului make marca de fabricaie

2. Price Some goods are low-priced; it means that the seller charges low prices all the time. They are cheap and are of poor quality. Some goods are highpriced and 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 discount to 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-end or top-end. There is a mass market that 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 needs and require a certain type of goods sold at profitable prices.

VOCABULARY to price a fixa preul price pre high-priced pre ridicat high-end top-end low-priced pre sczut low- end bottom-end loss leader produs vndut la pre redus, n pierdere, doar pentru a atrage clienii list price lista de preuri

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 preului price war rzboiul preurilor provocat de companiile care se afl n competiie price leader preul ridicat/ sczut practicat pentru prima dat de o companie price tag eticheta ataat unui produs care indic valoarea produsului, preul produsului

3. Place A shop or a store is where people buy things. Companies call them retail outlet or sales 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 the town centre - drugstore, a shop in a town centre, in the USA, that sells medicines; you can 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 are shopping 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, offers help and support; many restaurants are run like this.

VOCABULARY franchise licen acordat unui productor, distribuitor, comerciant, care le permite s
produc sau s vnd un anumit produs franchisee titularul unei licene pltete celui ce i-o acord, o cot din vnzri, adesea i o sum global, ca avans franchisor cel ce d licena i primete cot din vnzri

shop magazin store depozit, magazie, antrepozit; stores magazin universal outlet pia de desfacere retailer negustor cu amnuntul retail outlet magazine cu amnuntul sales outlet dealer negustor, comerciant

retailer detailist wholesaler angrosist distributor distribuitor

4. Promotion Promotion makes reference to all the activities organized for supporting the sale of a product, including advertising. A promotion describes: - a special offer such as a discount or 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 hire salespeople who are to visit customers and persuade them to buy companys products. Each member of the salesforce is responsible for a certain region which is his/her sales area/sales territory. The head of the sales force is called sales manager. Advertising supports the selling of products; the company organizes an advertising campaign and uses advertisements, TV commercials, neon signs, 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

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 nc
un produs

sales people personae care fac vnzri sales 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 manager director de vnzare

About Sales and Costs Sales means what a business sells and the money it receives from it. Any business owner has in view the sales figures and turnover of his business. These must be good so that the revenue should be high. The owners target is to be reached. He estimates his sales growth taking into account the situation of the economy, the demand for goods/ products and all 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 35,000 selling price - direct production costs = gross margin 50,000 - 35,000 = 15,000 total costs = Eu 40,000 selling price - total costs = net margin/ profit margin/mark-up 50,000 - 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 cheltuieli fixed costs cheltuieli fixe gross margin diferena dintre ncasrile din vnzri ale unei firme i costurile
bunurilor vandute indirect costs costuri indirecte to make a sale a face vnzare

net margin/ profit margin/mark-up marja brut

to reach a atinge revenue venit, ctig, suma prevzut n buget ce poate fi folosit pentru cheltuieli
operaionale 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, sold a vinde selling price pre de vnzare target int turnover cifr de afaceri unit sales numrul produselor vndute variable costs cheltuieli variabile

About Assets, Liabilities, Balance Sheet An asset is 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 they wear out or are no longer up to date. This phenomenon is called depreciation or amortization. We depreciate computers or amortize them over a very short period of time. A charge for this is shown in the financial record .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 being the 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 of the 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 ale
firmei Charge ipotec asupra unui teren,proprieti Current assets active care fac parte din fondul de rulment Fixed assets mijloace fixe Intangible assets active care nu pot fi vzute sau atinse Going concern principiu al contabilitii care presupune c firmele sunt afaceri

Liabilities datorii, obligaii rentabile atunci cnd circumstanele nu demonstreaz

contrariul to write off a reduce valoarea unui activ la zero ntr-un bilan Write down value valoarea unui activ, calculat n scopuri fiscale

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 checks them 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 it spends, 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 the accounting standards- accounting rules of one company, and a loss under the rules 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 taken away 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 report raportare financiar a unei organizaii, publicat, anual Accountant contabil Accountancy firm firm de contabilitate Audit examinare independent a rapoartelor financiare ale unei organizaii i
formularea ulterioar a unei opinii Auditor persoan sau firm care face auditul unei organizaii be in red a avea minus bottom line. valoarea profitului utilizat la calcularea ctigurilor per aciune a unei companii Creative accounting form exagerat de optimist, dei nu ilegal Financial records nregistrri financiare Book keeping contabilitate, domeniu care se ocup de evidena registrelor contabil

gross profit diferena dintre ncasrile obinute din vnzri ale unei firme i costurile
bunurilor vndute Loss pierdere A pre tax profit profit calculat naintea caculrii taxelor Profit and loss account eviden a profiturilor i pierderilor True and fair view imagine real i exact , complet

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 the company i.e. put money in hoping to make more money. Share capital is put by shareholders who put up money and hold shares 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 the form 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 the lender.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 company debt 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 or debentures, loans with special conditions. One of the conditions is that the borrower must have collateral or security, it means that , if the borrower cannot 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 loan capital 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 payments on 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, precum
poliele de asigurare de via i aciunile, utilizate pentru a garanta un mprumut

Debenture cea mai rspndit form de mprumut pe termen lung, contractat de ctre
o companie Debt datorie Gearing capital efectul de levier, indicele raportului dintre fondurile mprumutate pe termen lung cu dobnd fix Indebtedness sum datorat Interest dobnd Equity un interes deinut ntr-un activ; activele nete ale unei companii; capital propriu al unei companii To hold shares a deine aciuni Leverage efect de levier, utilizare de ctre o companie a unor active cu o valoare limitat n scopul garantrii unor mprumuturi substaniale pentru a-i finana afacerile 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 emisiunea de aciuni Shareholder acionar, proprietar de aciuni ntr-o companie cu rspundere limitat

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 may be 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 may collapse. 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 serious legal 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 the management 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 company and pay what they can to creditors. Under these circumstances, the company is wound up and ceases trading. The company that cannot be saved goes bankrupt.

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 lichizi To 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

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 consignator To repay, default on, service a debt a plti datoria To reschedule restructure a debt a schimba datele de plat Receivership administrare judiciar, situaie n care un creditor deine o ipotec sau o
garanie asupra proprietii unei companii, iar n urma neplii este desemnat un administrator judiciar pentru a converti activele respective n bani i a rambursa datoria Retained earnings profit net disponibil pentru distribuire, mai puin sumele deja distribuite companiei Turnaround 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

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 the biggest merger in the field. Y is to split into two and demerge its fixed line and whole business as part 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 a hostile 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 may be prey to a big international bank. N makes acquisitions of retail and non-retail businesses and becomes the parent company in a conglomerate or combine with the other businesses as 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, de
obicei pe termen scurt.

A majority stake, interest, holding o deinere de peste 50 % din aciunile unei

companii

To merge a fuziona A 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 drept
rezultat crearea unei noi entiti format din firmele combinate.

Parent company compania mam Predator acaparator Prey prad A stake, an interest, a holding in a company aciunile pe care un investitor le are
ntr-o companie Subsidiary filial

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 quick profit 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 and commercial 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 fixed amount 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 ncheia
un contract intermediat de acesta Bonds obligaiune, un document emis de un debitor unui creditor Commercial 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 pe cont propriu, la o burs de valori,mrfuri...spre deosebire de un brokerv sau un agent de schimb

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 pentru prima dat s se nscrie i s cumpere aciuni. To float the company a vinde aciuni ale firmei pentru prima dat Investor investitor Speculator speculant A share aciune, parte social Stock titlu devaloare cu dobnd fix Stock market, stockmarket burs Trader negustor

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 are some 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: Nikkei Trading 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 the close. 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 is no sign of a rally. If prices continue to fall, there may be another stock market collapse or crash.

VOCABULARY At the close la nchidere Bear un intermediary la o burs de valori, pe o pia valutar sau de mrfuri care atept
scderea preurilor Bear market o pia n care un comerciant va fi mai dispus s vnd titluri de valoare, valut sau bunuri Bull market brokerii acioneaz ca ageni att pentru vnztori ct i pentru cumprtori, precum i ca mandani Gain ctig To go down to go up a urca a cobor

Overall value valoare total Rally o cretere a preurilor pe o pia de tipul unei burse de valori sau de mrfuri, dup
o scdere a acestora

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 profitable A 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 is working. Inflation is rising prices and the rate at which they are rising is the inflation rate. Adj. inflationary The 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 coming into a country and that going out. The trade balance is the difference between payments for imports and payments for exports. When a country exports 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 country or 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 speed at which a companys economy grows and gets bigger.

VOCABULARY Amount cantitate Balance of payment balana de pli To come into to go out a intra a iei Economic output randament, productivitate Gross domestic product produs 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