New Edition

Market Leader Units 1-4 Vocabulary: Business Terms

Unit 1: Brands
The most distinctive skill of professional marketers is their ability to create, maintain, protect and enhance brands. (Philip Kotler, marketing expert) new brands vs. established, strong brands

Products can be:

affordable cool defective durable exciting fashionable good quality high priced inexpensive luxurious produced under licence reliable stylish timeless value for money well-made top of the range

You can... a product

develop endorse launch modify outsource place promote recall redesign relaunch reposition test replace roll-out

Word partnerships: brand, product

brand loyalty brand image brand stretching brand awareness brand name product launch product lifecycle product range product placement product endorsement

Reading: Outsourcing production

Made in Europe label manufacture(r) low-cost market gross margin factory/plant licence (under licence) renew a licence (a) flagship (store) manufacturing location country of origin goods sales at (retail value) offshore (production)

Unit 2

Travel

Word choice:
travel travelling journey trip voyage crossing flight

TRAVEL AND TRAVELLING

used to mean the general activity of moving from place to place
Air travel is becoming cheaper. Her work involves a lot of travelling.

form/means/mode of travel (=the type of vehicle you use) rail/air/space travel TRAVELS [plural] journeys to places that are far away, usually for pleasure
We met some very interesting people on our travels in Thailand.

JOURNEY
1) to talk about travelling a long distance or travelling regularly, when the emphasis is on the travelling itself
a long and difficult journey (NOT travel) through the mountains I read during the train journey to work. Did you have a good journey? (=Were you comfortable, was the train on time etc?)

make a journey/go on a journey (=make a long journey) break a journey (BrE) (=make a short stop in a journey) car/train/bus journey return journey (=a journey home from a place) safe journey (=used especially to wish someone a good journey) wasted journey (=one that did not achieve the result you wanted) leg of a journey (=one part of a journey) 2) (literary) a long and often difficult process by which someone or something changes and develops:
our journey through life The novel is an account of his spiritual journey.

TRIP
when you go on a short journey, or a journey you do not usually make, and come back again Use this when the emphasis is on where you are going or why you are going there :
my first trip to the States a business trip Was it a good trip? (=Did you achieve what you wanted to or have a good time there?)

TRIP
trip to Did you enjoy your trip to Disneyland? trip from The Palace is only a short trip from here. business/school/shopping etc trip a business trip to Japan Two lucky employees won a round-the-world trip. coach/boat/bus trip a boat trip up the Thames day trip (=a pleasure trip done in one day) It's an 80-mile round trip (=a journey to a place and back again) to Exeter. return trip (=when you are travelling back to where you started) I'm afraid you've had a wasted trip (=a trip in which you do not achieve your purpose), Mr Burgess has already left. go on/take a trip We're thinking of taking a trip to the mountains. He was unable to make the trip to accept the award.

VOYAGE
1) used for a long sea journey a voyage across the ocean the Titanic's maiden voyage (=first journey) These are the voyages of the starship Enterprise. 2) voyage of discovery: a situation in which you learn a lot of new things about something or someone: Writing a biography is an absorbing voyage of discovery. a voyage of self-discovery (=when you learn more about yourself)

CROSSING
1) used for a fairly short sea journey The crossing takes 90 minutes. 2) a place where you can safely cross a road, railway, river etc: You must give way to any pedestrians on the crossing. (prijelaz) level crossing (AmE) railroad crossing, pedestrian crossing (AmE crosswalk), pelican crossing, zebra crossing 3) a place where two lines, roads, tracks etc cross: Turn left at the first crossing. (raskri je)

FLIGHT
used for a journey by air Have a good flight! book a flight catch a flight (=get on a plane to go somewhere) miss a flight (=arrive too late to get on a plane) cancel a flight a long/short flight a domestic flight (=to another place in the same country) an international flight (=to another country) a non-stop/direct flight a connecting flight (=a flight to continue a journey, after a previous flight)

Unit 2

Travel experiences

SEATS
seats (NOT chairs or places)
a place where you can sit, especially one in a vehicle or one from which you watch a performance, sports event etc back/rear/front seat (=the back or front seat in a car) driver's seat passenger seat (=the seat next to the driver's seat in acar) window/aisle seat empty/vacant seat front-row seat (=in a theatre, sports ground etc) good seat (=one from which you can see well) have/take a seat show somebody to their seat book/reserve a seat

TROLLEY
1 BrE a large basket on wheels that you use for carrying bags, shopping [= cart AmE] a supermarket trolley 2 BrE a small table on wheels used for serving food [= cart AmE] a drinks trolley the sweet trolley 3 AmE an electric vehicle for carrying passengers which moves along the street on metal tracks [= tram BrE]

QUEUE

(n, v)

(British English) a line of people waiting to enter a building, buy something etc, or a line of vehicles waiting to move [= line AmE] be/stand/wait in a queue (= to queue - verb) We stood in a queue for half an hour. You'll have to join the queue. queue of a queue of people waiting for the bus queue for the queue for the toilets queue to do something There was a long queue to get into the cinema. the front/head/back/end of a queue At last we got to the front of the queue.

LUGGAGE
the cases, bags etc that you carry when you are travelling [= baggage AmE] They searched his luggage for illegal drugs. hand luggage/carry-on baggage

JET LAG
[uncountable] the tired and confused feeling that you can get after flying a very long distance, especially because of the difference in time between the place you left and the place you arrived at: I'm suffering from jet lag but I'll feel better after a good night's sleep. jet-lagged (adjective)

British and American English...

(the BrE expressions are underlined)

subway city center carry-on baggage one way return freeway rest room elevator coach class timetable car park

underground downtown hand luggage single round trip motorway public toilet lift economy class schedule parking lot

...some more differences

airplane cab call collect check first floor, second floor gas(oline) intersection mail railroad aeroplane taxi reverse the charges bill ground floor, first floor petrol crossroads post railway

Unit 3

Organisation

Businesses come in many guises...

self-employed > self-discipline, self-starters
(someone who is able to work successfully on their own without needing other people's help or a lot of instructions)

sole trader (a legal form of company in some

countries for someone who has their own business, with no other shareholders)

SME (small to medium-sized enterprise) multinational > hierarchy, numerous employees

WORD FOCUS: COMPANY

similar words: firm, business a big company: corporation, multinational, conglomerate an Internet company: dot-com (dot com, dot.com) a company that is owned by a larger company: subsidiary, affiliate abbreviations used in company names: Ltd (Limited) Co. (Company) Corp. (Corporation) PLC (Public Limited Company) British English, Pty. (Proprietary) used in Australia and South Africa

Motivation...
(e.g. advertising agencies) > relatively autonomous (not given exact procedures on how to meet objectives) > productive, creative (e.g. banks) > centralised (exact procedures that must be followed imposed from above)

Tendency towards FLAT STRUCTURES...

> only a few levels of hierarchy > the senior management relatively close to the people dealing with clients

FLEXIBILITY
current buzzword 1. flexitime, flextime (within certain limits: particular number of hours, change the times at which to start or finish) 2. flexible working, hot desking (hot desk: a desk which is used by different workers on different days, instead of by the same worker every day) availability of fast broadband Internet connections and mobile phones: home working, teleworking, telecommuting 3.core staff outsourcing/contracting out work as and when required portfolio workers > number of different clients

COMPANY STRUCTURE
HEAD OFFICE the main office of a company BRANCHES/OUTLETS a shop, company, or organization through which products are sold > outlet a local business, shop etc that is part of a larger business etc:
The bank has branches all over the country. a branch office in Boston

COMPANY STRUCTURE
DISTRIBUTION CENTER when goods are supplied to shops and companies for them to sell WAREHOUSE a large building for storing large quantities of goods warehouse store a type of store that sells things in large amounts, so that you can buy them at a lower price than at normal stores

COMPANY STRUCTURE
CALL CENTRE an office where people answer customers questions, make sales, etc. by using the telephone rather than by meeting people SUBSIDIARY a company that is owned or controlled by another larger company: a subsidiary of a US company

QUALITIES OF AN ORGANISATION
BUREAUCRATIC involving a lot of complicated official rules and processes FACELESS a faceless person, organization, or building has nothing that makes them special, interesting, or different - used to show disapproval:
He had become just another faceless bureaucrat.

QUALITIES OF AN ORGANISATION
MARKET-DRIVEN activities, products, developments etc are a result of public demand for a particular product, service, or skill: a market-driven economy LEAN a lean organization, company etc uses only as much money and as many people as it needs, so that nothing is wasted

QUALITIES OF AN ORGANISATION
FORWARD-LOOKING planning for and thinking about the future in a positive way, especially by being willing to use modern methods or idea [ backward-looking]: a forward-looking Russian statesman RESPONSIVE 1 reacting quickly, in a positive way: a car with highly responsive steering We try to be responsive to the needs of the customer. 2 eager to communicate with people, and to react to them in a positive way: I tried to get him talking, but he wasn't very responsive.

QUALITIES OF AN ORGANISATION
bureaucratic (de)centralised (im)personal (un)caring (un)democratic market-driven dynamic (un)professional conservative hierarchical progressive (in)efficient faceless forward-looking lean amateurish (un)responsive