Vocabulary Unit 1

1. Consultant. A person who provides expert advice to a company.

2. Crisis. A situation of danger or difficulty.
3. Innovation. A new idea or method.
4. Objective (noun). Something you plan to do or achieve.
5. Promotion. When someone is raised to a higher or more important position.
6. Public sector. The section of the economy under government control.
7. Strategy. A plan for achieving success.
8. Subordinate. A person with a less important position in an organization.

1. After an organization has set objectives, it has to make sure that it achieves them.
2. Managers have to find the best way to allocate all the human, physical and capital
resources available to them.
3. Some people perform tasks better on their own while others work better in teams.
4. Managers supervise the work of their subordinates and try to develop their abilities.
5. Managers measure the performance of their staff to see whether they are reaching
their targets.
6. Top managers have to be prepared to deal with crises if they occur and then have to
make quick decisions.

 Founder. A person who establishes an institution, a company, etc.

 Market value. The amount obtainable on the open market for the sale of property,
financial assets, or goods and services.
 Performance. Manner or quality of functioning.
 Resources. The total means available for a company for increasing production or profit
(includes plants, labor, 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.
 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 revenue.
 To measure. To scale the extent, quantity, amount or degree of something.
 To supervise. To direct or oversee the performance or operation of work/workers.
 Vocabulary Unit 2

1. Labour relations. Interactions between employers and employees, or managers and

workers.
2. Job security. Knowing that there is little risk of losing one’s employment.
3. Wages. Money paid (per hour or day or week) to manual workers.
4. Benefits. Advantages that come with a job, apart from pay.
5. Incentives. Things that encourage people to do something.
6. Promotion. To be raised to a higher rank or better job.
7. Unskilled. Without any particular abilities acquired by training.
8. Job rotation. Regularly switching between different tasks.
9. Corporate culture. A company’s shared attitudes, beliefs, practices and work
relationships.

Vocabulary Unit 3
1. Wikinomics. Cooperating with people outside the traditional corporate structure,
letting people from around the world cooperate to improve an operation or solve a
problem.
2. Hierarchy or chain of command. A system of authority with different levels, one above
the other. For example, a series of management positions whose holders can make
decisions, or give orders and instructions.
3. Function. A specific activity in a company, for example production, marketing and
finance.
4. Autonomous. Independent, able to take decisions without consulting someone at the
same level or higher in the chain of command.
5. Line authority. The power to give instructions to people at the level below in the chain
of command.
6. To report to. To be responsible to someone and to take instructions from them.
7. To delegate. To give someone else responsibility for doing something instead of you.

Vocabulary Unit 4
1. Glocalization. An invented word combining worldwide and regional matters.
2. Logic. Thought based on reason and judgement rather than feelings and emotions.
3. Confrontation. A face-to-face disagreement or argument.
4. Compromise. Reducing demands or accepting opinions in order to agree.
5. Intuition. Understanding or knowing without consciously using reason.
6. Connections. People of influence or importance with whom you are associated.
7. Improvise. To do something, when necessary, without having already planned it.
8. Status. Respect, prestige, importance given to someone.
9. Collectivist. Believing that a group is more important than the individual.
10. Lose face. To be insulted or disrespected in public.
11. Interrupt. To cut into someone’s turn to speak.
12. Eye contact. Looking directly at the people you are talking or listening to.

Vocabulary Unit 5
NONE

Vocabulary Unit 6
1. Critical mass. The number of people needed to start and sustain and change.
2. Leadership ranks. Top levels of management.
3. Outperforming. Doing better than others, financially.
4. Profitability. The ability to make a good return on capital invested in the business.
5. Return on equity. The amount of money a company earns on the investment of its
shareholders.

1. Come across. Meet or find unexpectedly or by accident.

2. Compulsory. Required, obligatory, necessary according to the law.
3. Quota. An officially imposed number or quantity.
4. Voluntary. Done by choice, without legal obligation.
5. Compliance. Obeying laws or regulations.
6. Dissolution. The ending or termination of an organization.
7. Apprentices. Trainees, people still learning their job.
8. Convert. Someone who changes their beliefs.
9. Accountability. Being officially responsible for something.

Vocabulary Unit 7
1. Exported goods. Products sold to other countries.
2. Real state. Property: buildings such as offices, houses, flats or apartments.
3. Labour. Work done in return for money.
4. To delocalize. To move your factories to another region or country.
5. To outsource. To use other companies to do work your company previously did itself.