Üzleti idegen nyelv

Vocabulary
Unit1
founder-a person who establishes an institution, company, etc.
consultant-a person who provides expert advice
market value-the amount obtainable on the open market for the sale of property, financial
assets, or goods and services
objective-something you plan to do / to achieve
performance-manner or quality of functioning
promotion-when someone is raised to a higher position
public sector-the section of economy under government control
resources-the total means available for a company for increasing production or profit
(including plant, labour, raw materials)
revenue-all the income produced by a particular sector
shareholder-the owner of one or more shares in a company
skill-special ability in a task, acquired by training
staff-a group of people employed by a company/ individual/ etc.
subordinate-a person with a less important position
target-a fixed goal or objective
to accomplish-to succeed in doing, complete, achieve
to allocate-to distribute according to a plan
to execute-to perform or carry out what is required
to invest, investor-to commit money or capital in order to gain a financial return
to measure-to scale the extent, quantity, amount or degree of something
to resign-to give up tenure of a job/office/etc.
to supervise, supervisor-to direct or oversee the performance or operation of work/workers
(felügyel,irányít)
Unit 2.
labour relations-interactions between employers and employees, or managers and workers
job security-knowing that there is little risk of losing one's employment
wages-money paid (per hour or day or week) to manual workers
benefits-advantages that come with a job, apart from pay
incentives-things that encourage people to do something (ösztönzők)
promotion-to be raised to a higher rank or better job
unskilled-without any particular abilities acquired by training
job rotation-regularly switching between different tasks
corporate culture or company's shared value-a company's shared attitudes, beliefs,
practices and work relationships
consultant-a person who provides expert advice to a company (szaktanácsadó)
crisis-a situation of danger or difficulty
innovation-a new idea or method
objective(noun)-something you plan to do or achieve
promotion-when someone is raised to a higher or more important position
public sector-the section of the economy under government control
strategy-a plan for achieving success
subordinate-a person with a less important position in an organization
Unit3-Company stucture
hierarchy or chain of command-a system of authority with different levels, one above the
other, e.g. a series of management positions, whose holders can make decisions, or give
orders and instructions
function-a specific activity in a company, e.g. production, marketing, finance
autonomous-independent, able to take decisions without consulting someone at the same
level or higher in the chain of command
line authority-the power to give instructions to people at the level below in the chain of
command
to report to-to be responsible to someone and to take instructions from them
to delegate-to give someone else responsibility for doing something instead of you
Unit 4-Managing across cultures
labour relations-interactions between employers and employees, or managers and workers
job security-knowing that there is little risk of losing one's employment
wages-money paid (per hour or day or week) to manual workers
incentives-things that encourage people to do something
employee-A person employed by someone else, working for money
responsibility-having control of something as part of your job
labour relations-Relations between employers and employees, managers and workers,
management and unions
benefits or perks-Advantages that come with a job, apart from wages or salary
Promotion-to be raised to a higher rank or better job
Skilled-having particular abilities, acquired by training
salary-a fixed regular payment for work by employers, usually monthly, for professional or
office work
eye contact
Unit 5- Recruitment
employ-to hire and put to work for pay
dismiss-to send someone out; to let someone leave, fire
candidate-a person who applies for a job or is nominated for election.

short list-a list of selected candidates from which a final choice is made
résumé-(n.) a brief summary; a short written account of one's education, working experience,
or qualifications for a job
resign-to quit one's job
post-position
complete-to finish
promotion-to move up in the company hierarchy
qualification-A special skill, knowledge, or ability that enables a person to perform a
particular job

Unit 6-Woman in business

critical mass-the number of people needed to start a change and keep it going
leadership ranks-top levels of management
outperforming-doing better than others financially
profitability-the ability to make more money from money invested in the business
return on equity-the amount a company earns from the money of people who invest in it
dissolution-the closing or ending of an organization
consumers-people who buy things or use services
quota-a number or quantity that must be achieved
compliance-obeying laws, rules or regulations
apprentice-trainee, someone still learning their job
compulsory-required, necessary according to the law
come across-to meet or find unexpectedly or by accident
voluntary-done by choice
convert-someone who changes their beliefs
accountability-official responsibility for something

Unit 7-The different sectors of the economy

Unit 8 – Production
Unit 9-Logisics
Unit 10-Quality

Unit 11 Products
1 places of business for selling goods to customers (shops, stores, kiosks, etc.) outlets
2 all the different products, brands and items that a company sells product mix
3 businesses that sell goods or merchandise to individual consumers retails
4 a graphic image or symbol specially created to identify a company or a product logo
5 wrappers and containers used to enclose and protect a product packaging
6 the extent to which consumers are aware of a brand, and know its name recognition
7 surfaces in a store on which goods are displayed shelf
8 the sales of a company expressed as a percentage of total sales in a given market share
9 consumers who buy various competing products rather than being loyal to a particular
brand switchers
Unit 12 Marketing
1. all the companies or individuals ('middlemen') involved in moving
goods or services from producers to consumers distribution channel
2. an intermediary that stocks manufacturers' goods or merchandise,
and sells it to retailers and professional buyers wholesaler (nagykereskedő)
3. dividing a market into distinct groups of buyers who have different
requirements or buying habits market segmentation
4. making aproduct (appear to be) different from similar products offered
 by other sellers, by product differences, advertising, packaging, etc. product
differentation
5. possibilities of filling unsatisfied needs in sectors in which a company
can proftably produce goods or services market opportunities
6. setting a high price for a new product, to maket maximum revenue
before competing products appear on the market market penetration
7. someone who contacts existing and potential customers, and tries to
persuade them to buy goods or services sales representative
8. the attributes or characteristics of a product, such as slze, shape,
quality, price, reliability, etc. product features
9. the extento which supply or demand (the quantity produced or
bought) of a product responds to changes of price price elasticity
10. the strategy of setting a low price to try to sell a large volume and
increase market share market skimming

penetration- áttörés
distribution-elosztás
elasticity-rugalmasság
skimming-lefölözés
features-tulajdonság
representative-megbízott

Unit 13 Adverising
1 companies that design advertising for clients advertising agencies
2 the advertising of a particular product or service during a particular period of time
advertising campaign
3 the statement of objectives that a client works out with an advertising agency brief
4 a defined set of customers whose needs a company plans to satisfy target customers
5 the amount of money a company plans to spend in developing its advertising and buying
media time or space budget
6 the choice of where to advertise in order to reach the right people media plan
7 choosing to spend the same amount on advertising as one's competitors comparative-parity
method
8 a small amount of a product given to customers to encourage them to iry it free samples
9 free advertising, when satisfied customers recommend products to their friends word-of-
mouth
10 trying to get consumers to forward an online marketing message to other peopl viral-
marketing

Unit 14 Banking
1 Find the words or expressions in the text which mean the following:
1 money placed in a bank deposits
2 a sum of money borrowed from a bank loan
3 the money invested in a business capital
4 certificates representing part-ownership of a company stocks shares
5 certificates of debt issued by governments or companies to raise money bond
6 when one company combines with another one merger
7 when one company offers to buy or acquire another one takeover bid
8 buying and selling stocks or shares for clients stockbroking
9 all the investments owned by an individual or organization portfolio
10 the profits made on investments returns
11 unable to pav debts or continue to do business bankrupt
12 the ending or relaxing of legal restrictions deregulation
13 a group of companies, operating in different fields, which have joined together
conglomerate
14 the price paid for borrowing money, paid io the lenders interest
1 credit rating B estimates of people's ability to fulfil their financial commitments
2 default C failure to repay a loan
3 collateralized E with property or another asset used as a guarantee of payment
4 cash flow D the money generated by an investment
5 write off A cancel a bad debt or a worthless asset from an account

Unit15-Venture Capital
1 what an organization can do better than its competitors compatitive advantage
2 able to continue over a period of time sustainable
3 the sales businesses expect to achieve in a particular period of time sales forecasts
(értékesítési előrejelzés)
4 where total costs equal total income from sales and the company makes neither a
profit nor a loss break-even point (metszéspont)
5 the total income received by a business before any expenses are paid revenue (jövedelem)
6 an inveslor's plan for getting their investment back and potentially realizing a profit exit
strategy
7 the people who establish a company or other organization founders
8 the people who are employed in an organization personnel
Unit 16 Bonds
1 Find words in the text that mean the following:
1 the money a company receives minus the money it spends during a certain period cash flow
2 part ownership of a company in the form of stocks or shares equity
3 funds operated by investment companies that invest people's money in various assets
mutual funds
4 funds that invest money that will be paid to people after they retire from work pension
funds
5 the amount of capital making up a bond or other loan principal
6 the length of time for which a bond is issued (until it is repaid) maturity
7 the amount of interest that a bond pays coupon
8 unable to pay debts insolvent bankrupt
9 people or institutions towhom money is owed creditors
10 payments by companies to their shareholders dividends
11 businesses that buy and sell securities market makers
12 the price at which a buyer is prepared to buy a security at a particular time bid price
13 the price at which a seller is prepared to sell a securiiy at a particular time offer price
14 the rate of income an investor receives from a security yield
Unit 17 Stocks and shares
These verbs describe the movement of security prices.
To rise after previously falling
Synonyms: recover, pick up
Example: Share prices recovered in Hong Kong today, the Hang Seng finishing up ten points.
To rise a little
Synonyms: be a little stronger, small increase
: Most shares were a little bit stronger in Madrid this morning, when the echange
reopened after yesterday’s public holiday.
To rise a lot
Synonyms: shoot up, rocket, to soar
Example: Volkswagen shares rocketed after the revelation that Porsche has upped its stake
in
the company to 74%.
To fall a little
Synonyms: small decrease, slip, to be slightly weaker
Example: After the Strong gains of last week, Asian shares slipped on fears of looming
recession.
To fall a lot
Synonyms: sink, crash, plummet, sharp increase, counting to plunge
Example: The Sensex index of the Bombay Stock Exchange crashed on Monday on fears of
a
recession in the USA
18 Derivates
Derivatives
■ Financial instruments whose prices are dependent upon, or derived from, underlying
assets
such as stocks, bonds,...
■ Banks are by far the biggest traders in the derivatives market.
Future
■ Contract agreement to buy or sell a security, commodity ot financial instrument at a
predetermi8ned price and point in the future.
■ To be successful, a futures contract must have a liquid market with low transactions
costs
associated with trading in the contract.
Option
■ Offers the buyer a right, but not the obligation, to buy (call) or sell (put) an asset at
an agreedupon
price (the strike price), either during a certain period of time or on specific date.
■ You have the option to decide.
Commodities
■ Raw materials or primary products such as metals, cereals...
■ We will see commodity prices plummet in the coming years.
Hedging
■ Making contracts to buy or sell commodities or financial assets in the future at a
pre-arranged
price, as a protection against price changes
■ The reduction in risk provided by hedging also typically results in a reduction in
potential
profits.
Speculation
■ Buying assets in the hope of making a capital gain by selling them later at a higher
price (or
vice versa)
■ He made his money in property speculation.
Interest rate swap
■ Agreement to exchange future interest payments with another company or financial
institution,
eg. a floating rate loan for a fixed interest rate loan
■ Interest rate swap has become one of the biggest financing instruments in
international
financional market.
Currency swap
 ■ Agreement between two parties who exchange principal and fixed rate interest
payments on a
loan in one currency principal and fixed rate interest payments on equal loan in
another
currency
■ China and South Korea had reached 1 million dollar currency swap agreement
Unit 19 Accounting and financial statements
1 all the money received from business activities during a given period income
2 all the money that a business spends on goods or services during a given period
expenditure
3 a financial operating plan showing expected income and expenditure budget
4 anything owned by a business - cash, buildings, machines, equipment, etc asset (vagyon)
5 all the money that a company will have to pay to someone else in the future, including
debts, taxes and interest payments liabilities (kötelezettségek)
6 an entry in an account, recording a payment made debit (tartozás)
7 an entry in an account, recording a payment received credit (hitel)
8 adjectives describing something without a material existence, which you can't touch
intangible (eszmei vagyonrész)
9 adjectives describing a liability which has been incurred but not yet invoiced to the
company accrued (növekszik)
1O delayed or postponed until a later time deferred (elhalasztott)

1 calculating all the expenses involved in producing something, including materials,

labour, and all other expenses cost accounting (költségszámítás)
2 calculating how much an individual or a company will have to pay to the local and
national governments (and trying to reduce this to a minimum) tax accounting (adó
könyvelés)
3 inspecting and reporting on accounts and financial records auditing (vizsgálat)
4 preparing financial statements showing income and expenditure, assets providing
information that will allow a business to make decisions, plan future operations and develop
business strategies managerial or management accounting
6 using all available accounting procedures and tricks to disguise the true financial
position of a company creative accounting
7 writing down the details of transactions (debits and credits) bookkeeping
abilities accounting
A a statement giving details of money coming into and leaving the business, divided
into day-to-day operations, investing and financing Cash flow statement (pénzforgalom)
B a statement showing the difference between the revenues and expenses of a period Income
statement
C a statement showing the value of a business's assets, its liabilities, and its capitular
shareholders' equity (money the business has that belongs to its owners) Balance sheet
vagyonmérleg
calculate taxes, liabilities
pay
receive income, transactions
record expenditure, records
value assets
Unit 20 - Market structure
1. Market leader: firm with the largest market share; often the first company to have
entered the field, or at least the first to have succeeded in it
2. market share
3. market challenger: the second largest market share
4. market followers
5. market segmentation
6. niche
7. differentiated
8. unique selling proposition
9. cluster: a group of similar things (e.g. companies) situated close together
10. landlord: a person or organization that owns a building or an area of land and rents it
to other people
11. entrepreneur: a person who starts their own business, especially when this involves
taking risks
12. headhunter: a recruiter of important personnel for companies
13. attorney: an alternative American term for a lawyer
14. vulnerable: likely to be attacked
 15. patent: the official legal right to make or sell an invention for a particular number of
years
16. dominate: to have control over something, or to be the most important person or thing
17. disrupt: to prevent something from continuing as expected
18. adress or trackle: to try to deal with a Problem

Unit21
1 to become more varied or different (e.g by selling different products) Diversify
2 places where goods are sold (shops, stores, kiosks, markets, etc.) Retail outlets
3 a sufficient number of stocks in a company to be able to decide what to do (at an Annual
General Meeting) Controlling interest
4. public companies whose stocks are traded on a stock exchange listed companies
amounts of money paid for services fees
5. companies that own or control several smaller businesses selling very different products or
services conglomerate (halmaz)
6. the combined power or value of a group of things working together which is greater than
the total power or value achieved when each is working separately synergy (együttműködés)
7. the total value of a company on the stock exchange (the price of all its stocks) market
capitalization (tőkésítés)
8. companies that are owned by a larger parent company subsidiaries (leányvállalat)
9. a sum of money reserved to pay a company's retired employees’ pension funds
the difference between horizontal and vertical integration
1. horizontal integration: Acquiring a competitor on the same field of activity.
2.vertical integration: companies aquire businesses involved in other parts of their supply
chain
2 the difference between backward and forward integration
backward integration: taking over suppliers of raw material or components
forward integration: buying distributors or retail outlets
3 the difference between a raid and a takeover bid
raid bid: buying as many of a company's stocks as possible on the stock market
takeover bid: is a corporate action in which a company makes an offer to purchase another
company
4. the difference between a friendly and a hostile bid
friendly bid: when the board of directors approve the takeover
hostile bid: when the company doesn't want to be taken over
5. Asset-stripping: when somebody buys a company and they sell their assets to make profit
Borrow money: when someone borrows money from the bank
Pay interest : after you borrowed money from the bank you have to pay the interest
calculated to it
Pay tax: money that you have to pay for the government
Raise money : to ask for money for an investment
Issue bonds : certificates of a debt which issued by the government or a company
(végeredmény kötvény)
Sell assets : when you sell or transform the assets of your company rather than shares or
stocks (assets like cash, investments, real estates)
Pay a return : profit
Sell bonds : to sell the certificates of a debt which issued by the government or a company
Subprime mortgage: a mortgage that is normally issued to borrowers with low credit ratings
Soared: rose quickly
To kickstart: to revive or stimulate something
Benchmark: a standard used when comparing other things
Recession: a period when the economy is contracting
Rally: an improvement or increase in prices
To default: failing to repay a loan
To go bust: another word for going bankrupt
High-yield bonds: bonds that pay higher interest rates
Corporate bond: a type of debt security that is sold to investors
Government bonds: debt security issued by a government to support government standing
and obligations

Stock -értékpapír
shares- részvény
bonds-kötvény
takeover bid
Unit 22- Government and taxation
Allocation of resources: Distribution according to a plan
Commercialize to organize something to make a profit
Externalities Positive or negative consequences of economic activities experienced by other
people
Infrastructure Basic systems and services such as transport and power supplies
Optimal The best or most likely to bring success
Outcome The result or effect of an action or situation
Unfettered Not limited by any rules or controls
Income Tax The tax people pay on their wages and salaries
Wealth Tax The annual tax imposed on people's fortunes
Direct Tax A tax on wages and salaries or on company profits
Indirect Tax A tax on property, sales transactions, imports... közvetett adó
Value-Added Tax A tax collected at each stage of production, excluding the already-taxed
costs from previous stages -
Progressive Tax A tax levied at a higher rate on higher incomes-fokozatos
Capital gains tax Profits made by selling assets are generally liable to a
Inheritance Tax Gifts to family members over a certain value are liable to an
Tax avoidance Reducing the amount of tax you pay to a leg minimum is called
Tax evasion Making false declarations to the tax authorities
Tax havens Countries where tax are low, where multinational companies often set upo their
head offices
A loophole A small mistake or exception in a tax law, which allows you to avoid paying
something
Unit 23-The business cycle
a decline in economic activity downturn
an increase in economic activity upturn
beliefs about what will happen in the future expectations
purchasing and using goods and services consumption
the different between the funds a country recieves and those it pays for all international
transactions balance of payments
The total market value of all the goods and services produced in a country during a given
period GDP
the willingness and ability of consumers to purchase goods and services demand kereslet
the willingness and ability of businesses to offer goods or services for sale supply kínálat
to put money aside to spend in the future save
a long period of expansion boom
A downturn that lasts more than six months recession gazdasági hanyatlás
A downturn that lasts more than a year depression / slump gazdasági válság
an amount of money that is smaller than is needed deficit hiány
an excess: a quantity that is larger than is needed surplus többlet
a state of balance, for example when supply is the same as demand equilibrium eggyensúly
government or central bank actions concerning the rate of growth of the money in circulation
monetary policy monetáris politika
government actions concerning taxation an public expenditure fiscal policy költségvetési
politika
the economic theory that government monetary and fiscal policy should stimulate business
activity and increase employment in a recession Keynesianism
The total amount of money available in an economy at a particular time money supply
pénzkínálat
Unit 24-Corporate and social responsibility
treating some people in a worse way than you treat other people discrimination
making something weaker undermining
an economic system in which anyone can raise capital, form a business, and offer goods or
services free market
complying with or following (rules etc.) conforming
expressed, given a material form embodied
according to generally accepted beliefs based on morals ethical
a usual way of behaving custom
to the degree or extent that in so far as
cause damage to harms
supporters, people who argue in favour of sth, proponent / opponent
Unit 25- Efficiency and Employment
age of retirement-the amount of years somebody has to live to gain pension
casual work if somebody does not work regularly, he work in ...
contract work if somebody works in a chain of several tasks, he works in...
delayering the process of reducing the number of different levels of staff in a company or
organization
downsizing to make a company or organization smaller by reducing the number of people
working for it
efficiency a situation in which a person, company, factory, etc. uses resources such as time,
materials, or labour well, without wasting any
flexible labour market- market conditions that allow employers to hire and fire employees
easily
job sharing to have a job for which the duties and the pay are divided between two people
who work at different times during the day or week:
outsourcing a situation in which a company employs another organization to do some of its
work, rather than using its own employees to do it
part-time for only some of the hours of the week that people normally work, not all of them
public sector used to refer to businesses and industries that are owned or controlled by the
government, or things that are related to these businesses and industries
rationalization to make a company, way of working, etc. more effective, usually by
combining or stopping particular activities, or by employing fewer people
restructuring to organize a company, business, or system in a new way to make it operate
more effectively (noun)
redundancy package all the payments and advantages that a company gives to workers who
have lost their jobs because they are no longer needed
relocation the process of moving to a different place to work, or of moving employees to a
different place to work
delocalization to move the location of an enterprise (noun)
rightsizing the process of making a company or organization a more effective size (for
example by reducing the number of people working for it)
temporary employment to hire a worker for a certain time, e.g. to substitute a sick worker
(to) fire / (to) lay off / (to) make redundant / (to) let go / (to) sack / (to) dismiss-to get ridd
of an employee
(to) hire / (to) appoint / (to) take on / (to) recruit / (to) engage / (to) employ-to give
somebody work
(to) privatize if the government privatizes companies and organizations that it owns, it sells
them to private investors (verb)
trade unions-an organization that represents the people who work in a particular industry,
protects their rights and may agree pay, working conditions, etc. with their employers
private sector-relating to the part of a country's economy that consists of companies,
businesses, etc. that are not owned by the governmen
Unit 26-Exchange rates
A system in which the Federal Reserve could exchange gold for all the paper money, if
necessary System of gold convertibility
to increase the value of a currency in an otherwise fixed system revalue
to decrease the value of a currency in an otherwise fixed system devalue
adjective describing a rate that changes or varies floating
people who argue in favor of sth. proponent
to fall in value in a market system depreciate
to rise in value in a market system appreciate
to attempt to protect oneself against future price changes to hedge
continuous changes in a price or value fluctuations
agreements to buy something at a fixed price several months ahead future contracts
maximum quantity of goods of a specific kind that can be imported into a country quota
a tax charged on imports A tariff
by way of trade barriers such as tariffs and quotas Protectionism
government policies or regulations that restrict international trade Trade barriers
in an early stage of development and which cannot survive competition from foreign
companies’ infant industry
particularly important to a country's economy strategic industry
produce goods at a lower cost than any other country Absolute advantage
produce particular goods more efficiently than some other countries Comparative advantage
without any government restrictions free trade
a cheaper copy of a product that is not marked with the producer's name generic
a name or a symbol showing that a product is made by a particular producer and which cannot
be legally used by anyone else trademark
selling unwanted goods very cheaply, usually in other countries dumping
the legal right to control the production and selling of a book, ply, film, photograph, piece of
music, etc. copyright
to pay part of the cost of something subsidize
Unit 28 Economics and Ecology
albeit although it is
at threat (UK), at risk (US) threatened, likely to become endangered in the future
bear to accept or tolerate or endure something unpleasant
cost effective producing very good results for the amount of money concerned
crucial extremely important
decouple to disconnect or separate
desertification the process by which land becomes dry and vegetation is destroyed
discounted reduced
hindrance something which makes it more difficult for something to happen
in a nutshell in summary, briefly, or simply
inertia the physical force that keeps something moving in the same direction
iterative repetitive or recurring
on a par with at the same level as something else
political will strong government intentions
poorest nations least wealthy countries
rate of return the amount of income received each year from an investment, expressed as a
percentage of the total amount invested
reticence unwillingness to do something
stemming originating or developing as the result of something
the poverty line the minimum level of income necessary to meet basic needs
timeframe the period during which something is projected to take place