Keywords

Unit 1:
Business organization general (Unternehmen): firms, business,
company, provide a legal framework for the production and
distribution of goods and services

Business organization objectives (Ziele): Created for the purpose of

achieving particular objectives. Produce output and selling that
output at least more than cover costs. Non profit organisations don’t
sell their output because the goods are available free of charge

Business communication (Wirtschaftskommunikation): Exchange of

messages in a business context. Senders and receivers are involved.
Internal and external communication. B2E (business to employees),
B2G (business to government), F2F (face to face)

Stakeholder (Interessensgruppe): Firms employees, supplier,

customer, community where it is located and the general public.

Sales (Gesamtumsatz): Total revenue from the sales of goods

Sales (Gesamtabsatz): Total quantity of products sold by a firm

within a period of time.

Turnover (Umsatz): Same as Sales

Return (Ertrag, Rendite): Financial result of an economic operation to

the investment required to generate the result.

Unit 2:
Sole trader (Einzelunternehmen): Provides all the capital, makes all
decisions and bears all risks, unlimited liability, flexibility, quick
decisions, lack of legal formalities, difficult raise additional capital
Partnership (Personengesellschaft): Two or more individuals, purpose
making profit, classified in general (unlimited liability) and limited
(restricited liability), ability to raise additional capital, losses can be
shared among its partners, share the profits

Company general (Kapitalgesellschaft): Large, medium and small

companies, capital is devided into shares and raised by each member
(Shareholders), owner is liable for all debts, shareholders liability is
limited to the price of their shares

Company (Vor- und Nachteile): Continious existence, shares are

freely transferable, publicity, room of conflicts, lack of personal
contact

Corporation (börsenorientierte Gesellschaft): group of companies,

publicy held corporation

Share (Aktie): Capital is divided, persons who buy shares have

certain rights

Unit 3:
Management (Unternhemenführung): All activities in running a
business, managers making decisions, set objectives, planning,
controlling, communicating, establish contacts

Management ( Geschäftsführung): group of people that control a

business, represents the interests of the companies owners, divided
into senior (chief financialofficer), middle (chief accountant, regional
manager) and junior management (bookkeepers, collection manager,
foreman, quantity supervisors)

Organisation (Organisation): Functional structure: each basic

department (production, service) is responsible for a specialist
activity or function, Divisional structure: basic units are divisions and
each is concerned with products, Line relationship: superior unit give
commands to subordinate unit, Staff relationship: advisory or
service nature

Corporate culture (Unternehmenskultur): emotional needs, beliefs

and attitudes, describe the soft elements in a business

Intrapreneurship (Unternehmertum): establish groups with their own

development, production and marketing units

Telecommuting (Telependeln): Teleworking, where people work off-

site at home

Unit 4:
Personnel management (Personalwirtschaft): Human resource
management with the function to select, recruite, train, promote
employees

Personnel consulting (Personalberatung): personnel consulting

agencies to find the right people in a business, offer development,
training and services

Redundancy (Abbau): dismissal of employees because there is no

longer any work, caused by falling demand or profit or capital

Employee benefits (Nebenleistungen): payments in addition to his

normal wage or salary

Labour turnover (Fluktuation): rate of labour turnover is a measure

of the stability of a firms workface

Flexitime (Gleitzeit): employees choose their own arrival and

departure time according to their needs but within limits

Worker participation ( Arbeitnehmermitbestimmung): working people

should be involved into decisions which influence their working lives

Unit 5:
Trade association (Fachverband): set up by firms in a particular
industry, protecting the interests of its members

Trade union (Gewerkschaft): voluntary associations of employees

Work to rule (Dienst nach Vorschrift): remain to work but slow down
operations but not a breach of contract

Lock out (Aussperrung): employer involved in an dispute closes down

his firm to protect his employees

Wage system (Lohnformen): By time (time rates, hourly, shift,

weekly) or by pice (piece rate) depends on the output produced

Unit 6:
Inquiry (Anfrage): many transactions start with an inquiry, buyer
have to state what they want

Offer (Angebot): the offeror declares to sell certain specific goods

with price and terms

Terms of delivery (Lieferbedingungen): time, place and mode of

delivery of goods

C.I.F (Kosten, Versicherung, Fracht): seller bears all costs and

freight charges necessary to bring the goods to the
destination/ship, at this point the buyer takes all costs of delivery

Delivered duty paid (Geliefert verzollt): all costs and risks of the
contract goods until these have been placed at the buyers disposal

Ex Works (Ab Werk): seller has to make the goods available at his
factory, all costs and risks for the transport taken by the buyer

F.O.B (Frei an bord): seller takes all costs an risks until the goods
are on board, risk of loss passes to the buyer when they cross the
ships rail.
Cash discount (Skonto): goods sold on credt, seller offers a cash
discount for early payment (2-3%)

Trade discount (Handelsrabatt): granted to wholesalers or retailers

Cash (prompte bezhalung): prompt payment

Cash with order (Zahlung bei auftragserteilung): supply a buyer only

if he receives the payment for goods

C.O.D (Nachname): payment has to be paid on delivery of the goods

Sale on deferred terms (Zielkauf): Seller grants credit to the buyer,

pay within 30 days

Open account (offene Rechung): customer who makes regular

purchases pays monthly, quarterly or any other interval

Down payment (Anzahlung): certain percentage of the price has to be

paid on delivery

Instalment (Rate): number of part payments after delivery

Instalment sale (Ratenkauf): Buyer has to pay a certain percentage

as a deposit and a number of payments

Creditworthiness (Bonität): ability and willingness to pay his debts

Unit 7:
Firm offer (festes angebot): offer is binding on the offeror, meaning
of the law of contract

Offer without engagement (freies angebot): not binding

Confirmation (Bestätigung): confirm an offer made orally, letters

sent

Counter offer (Gegenagebot): buyer refuses to accept the offer but

is willing to enter a contract to his own terms
Consignment (Warensendung): ship a set of goods at one time,
shipment

Consignee (Empfänger): Receives the goods

Consignor (Absender): sending goods to a destination

Forwarding agent (Spediteur): arranges in his own name, acts

between seller and buyer

Carrier (Frachtführer): organization whose business is to transport

goods

Wrong goods (falsche ware): different in nature from the ones

specified in the contract

Defective goods (mangelhafte Waren): goods which have one or more

major (using the goods in no ordinary way) or minor defects.

Complaint (Mängelrüge): made by the buyer to the seller if the goods

delivered are defective

Damages (Schadensersatz): money compensation for a loss suffered,

get into the position as they were if the contract had not been
broken

Unit 8:
Market segmentation (Marktsegmentierung): divides a firms market
into a number of smaller sub markets or target groups

Product policy (Produktpolitik): what product to buy or produce and

to sell, concentrate on one product or offer a wide range

Product mix (Produktmix): full range of products, diversification

(new porducts for new markets), product line simplification
(concentrate on one core business), product innovation

Product line (Produktlinie): group of products with similar uses and

characterisitcs
Product life cycle (Lebenszyklus): divided into introduction, growth,
maturity, saturation. Decline and abandonment

Diversification (Diversifikation): offer new products for new

markets

Branding (Markenpolitik): helps a customer to identify the products

of a seller and differentiate them from the competitors

Unit 9:
Loss leader (lockvogelangebot): articles offered reatilers at lower
prices ta attract customers

Premium (Spitzenqualität): price is above the usual average

Public relations (PR): establish and maintain confidence between an

organization and its public

Sales force (Vertreter): employees of a firm who are engaged in

selling products

Trade fair (Messe): promotional events where companies can show

their products

Premium (Werbegeschenk): small item given away from buying

something

Direct marketing (Direktmarketing): by mail or telephone

Unit 10:
Distribution: the way to get a product from the manufacturer to the
customers

Channel of distribution (Absatzkanal): Zero stage channel (directly

to the customer), One stage (manufacturer, producer, customer) and
two stage (manufacturer, wholesaler, retailer, customer)

Department store (Warenhaus): offers a wide range of goods,

separate departments
Stockiest (Fachhändler): restricted range of goods, specialized and
high quality

Unit shop (Einzelgeschäft): one outlet, small but heavy competition

Multiple store (Filialkette): number of outlets, sell goods at lower

prices

Wholesaler (Großhändler): buys in large quantities from

manufactures and sells in smaller quantities to retailers