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Business and Businesses - Business and Businesses ∙ business (businesses) Ш N-COUNT A business is an organization which produces and sells goods or which provides a service. The company was a family business. He was short of cash after the collapse of his business. The cost of eating out is likely to rise if Cranada succeeds in its £3.4 billion takeover bid for Forte, the international hotel and catering business. Щ N-UNCOUNT Business is work relating to the production, buying and selling of goods or services. Business is also used when talking about how many products or services a company is able to sell. If business is good, a lot of products or services are being sold, and if business is bad, few of them are being sold. Business is also work or some other activity that you do as part of your job and not for pleasure. .. .young people seeking a career in business. Jennifer has an impressive academic and business background. They worried that German companies would lose business. Business is booming. I'm here on business. ...business trips. Common Collocations a business fails a business goes bust a business goes under the business community to downsize a business ∙ concern (concerns) N-COUNT You can refer to a company or business as a concern, usually when you are describing what type of company or business it is. If not a large concern. Queensbury Nursery was at least a successful one. There used to be a football club at Old Trafford, but now there is a monolithic business concern called Manchester United pic. ∙ big business N-UNCOUNT Big business is business which involves very large companies and very large sums of money. Big business will never let petty nationalism get in the way of a good deal. Ministers from 24 nations including Australia meet in Antarctica this week to discuss threats to the region's natural resources, primarily from big business interests. ∙ small business (small businesses) N-COUNT A small business is a business that does not employ many people and earns relatively little money. ...information on issues that affect small businesses. ... banks interested in attracting small business customers. ∙ company (companies) N-COUNT firm (firms) N-COUNT A company or firm is a business or organization that makes money by selling goods or services. Sheila found some work as a secretary in an insurance compan, ...the Ford Motor Company. The firm's employees were expecting large bonuses. ∙ venture (ventures) N-COUNT A business venture is a commercial undertaking, such as the launch of a new company, in which there is a risk of loss as well as an opportunity for profit. His first business venture was a clothes shop in Rose Street. .. .people interested in starting a commercial venture. ∙ enterprise (enterprises) N-COUNT An enterprise is a company or business, often'a small one. There are plenty of small industrial enterprises. Pressure from the workers is likely to grow and may eventually force the government to give its oil enterprises freedom to act like private companies. ∙ corporation (corporations) N-COUNT corporate ADI A corporation is a large business or company. Corporate means relating to business corporations or to a particular business corporation. ... multi-national corporations. Lotus Development Corporation co-developed the compact computer with H-P. This established a strong corporate image. ∙ commerce N-UNCOUNT Commerce is the activities and procedures involved in buying and selling things. They have made their fortunes from industry and commerce. Shifts in agriculture promoted and reflected changes in ∙ commercial ADJ Ш Commercial means involving or relating to the buying and selling of goods. Docklands in its heyday was a major centre of industrial and commercial activity. Attacks were reported on vehicles and commercial premises. Щ Commercial organizations and activities are concerned with making money and profits, rather than, for example, with scientific research or providing a public service. Conservationists in Chile are concerned over the effects of commercial exploitation of forests. Whether the project will be a commercial success is still uncertain. Э multinational: Topic 1.4; turnover: Topic 6.1 Topic 2.2 Business and Businesses - Industries and Sectors ∙ industry (industries) Ш N-UNCOUNT Industry is the work and processes involved in collecting raw materials and making them into products in factories. British industry suffers through insufficient investment in research. ...in countries where industry is developing rapidly. Ш N-COUNT A particular industry consists of all the people and activities involved in making a particular product or providing a particular service. ... the motor vehicle and textile industries. ... the Scottish tourist industry. ∙ sector (sectors) N-COUNT A particular sector of a country's economy is the part connected with that specified type of industry. ...the nation's manufacturing sector. ... the service sector of the Hong Kong economy. ∙ primary sector (primary sectors) N-COUNT secondary sector (secondary sectors) N-COUNT industrial sector (industrial sectors) N-COUNT tertiary sector (tertiary sectors) N-COUNT service sector (service sectors) N-COUNT The primary sector is the part of a country's economy that consists of industries which produce raw materials. The secondary or industrial sector consists of industries which produce things from raw materials, for example manufacturing and construction. The tertiary or service sector consists of industries which provide a service, such as transport and finance. Developing countries are characterized by very large primary sectors and small industrial and service sectors. In 1930 a third of all women in the secondary sector worked in the textile industry. The average Irish woman working in the industrial sector is paid 65% less than her male counterpart. ... economies that are slowly increasing the proportion of their labour force in the tertiary sector. Industries in the service sector that employ any number of low-paid workers would be especially hit by the implementation of a minimum wage. ∙ private sector N-SINC public sector N-SINC The private sector is the part of a country's economy which consists of industries and commercial companies that are not owned or controlled by the government. The public sector is the part of a country's economy which is controlled or supported financially by the government. ...small firms in the private sector. ... the gap between the salaries of public and private sector employees. To keep economic reform on track, 60,000 public-sector jobs must be cut. ∙ corporate sector (corporate sectors) N-COUNT financial sector (financial sectors) N-COUNT personal sector (personal sectors) N-COUNT household sector (household sectors) N-COUNT The private sector can be divided into the corporate sector (businesses that supply goods and services), the financial sector (businesses that provide financial services), the personal sector (private individuals) and the household sector (private households). .. .African countries which have an underdeveloped corporate sector. Many other funds that concentrate on the financial sector have almost doubled over five years. In the days when the personal sector saved more than it borrowed, falling inflation and high real interest rates meant people had more money. Wider share ownership is not the way to promote the household sector's investment in new manufacturing industry. ∙ public sector enterprise (public sector enterprises) N-COUNT A public sector enterprise is a commercial venture that is controlled or supported financially by the government. Investment Corporation of Pakistan (ICP), another public sector enterprise, held 5.86% of the company's stock. ∙ productive sector (productive sectors) N-COUNT The productive sector is the part of a country's economy consisting of industries and companies which produce goods that can be sold at home or abroad. .. .goods that are required by the productive sector. ...a rapid diffusion and growth of technologies, such that industry became the dominant productive sector. N-PLURAL Goods are things that are made to be sold. Money can be exchanged for goods or services. ...a wide range of consumer goods. О developing: Topic 4.1; service industry:Topic 12.2 16Business and Businesses - Starting Up ∙ start-up (start-ups) Ш AD] A start-up company is a small business that has recently been started by someone. Thousands of start-up firms have entered the computer market. Ш N-COUNT A Start-up is a small business that has recently been started by someone. For now the only bright spots in the labor market are small businesses and high-tech start-ups. Common Collocations a business start-up an Internet start-up start-up costs start-up company start-up capital ∙ business plan (business plans) N-COUNT A business plan is a detailed plan for setting up or developing a business, especially one that is written in order to borrow money. She learned how to write a business plan for the catering business she wanted to launch. ∙ lender (lenders) N-COUNT bank manager (bank managers) N-COUNT business angel (business angels) N-COUNT venture capitalist (venture capitalists) N-COUNT backer (backers) N-COUNT A lender is a person or an institution that lends money to people. A bank manager is someone who is in charge of a bank, or a particular branch of a bank, and who is involved in making decisions about whether or not to lend money to businesses and individuals. A business angel is a person who gives financial support to a commercial venture and receives a share of any profits from it, but who does not expect to be involved in its management. A venture capitalist is someone who makes money by investing in high risk projects. A backer is someone who helps or supports a project, organization, or person, often by giving or lending money. .,. the six leading mortgage lenders. These files give details of your credit history and may have influenced your bank manager's decision not to give you a loan. The number of companies financed by business angels increased by 51 year-on-year. AME has been given $45m worth of taxpayers' funds to stimulate the growth of multimedia companies by acting as a venture capitalist. I was looking for a backer to assist me in the attempted buy-out. ∙ stakeholder (stakeholders) N-COUNT Stakeholders are people who have an interest in a company's or organization's affairs. The stakeholders in the workers' compensation system -employers, workers and their representatives, and the legal profession - have strong opinions. You have to involve and seek the agreement of all the stakeholders and interested parties. ∙ overheads N-PLURAL running costs N-PLURAL The overheads or running costs of a business are its regula-and essential expenses, such as salaries, rent, and bills. We are having to cut our costs to reduce overheads. The aim is to cut running costs by £90 million per year. Common Collocations to щ1 overheads to have high overheads annual running costs to cover running costs to reduce overheads to have low overheads day-to-day running costs ∙ cash flow N-UNCOUNT break-even figure N-SINC profit forecast (profit forecasts) N-COUNT The cash flow of a firm or business is the movement of money into and out of it. A break-even figure is the amount of money a company needs to make over a particular period of time in order not to make a loss. Any more money it makes after this will be profit. A profit forecast is a statement or set of figures which aims to predict how much money a company will make over a particular period of time. A French-based Pharmaceuticals company ran into cash-flow problems and faced liquidation. This should put the operation well on course for a break-even figure by the end of the year. Woolworths exceeded the profit forecast last year when it lifted profit 17 per cent to $200 million. Common Collocations operatin g cash flow negative cash flow positive cash flow to reach break-even point ∙ budget (budgets) N-COUNT The budget for something is the amount of money that a person, organization, or country has available to spend on it. The budget of an organization or country is its financial situation, considered as the difference between the money it receives and the money it spends. Some companies have a budget for external training. The hospital needs to balance the budget each year. Common Collocations a budget deficit budget cyts the budget far something a balanced budget Э return: Topic 7.5; expenditure: Topic 8.2; market research:Topic 9.1; supplier: Topic 12.2; income: Topic 14.2 18Business and Businesses - Corporate Structure and Legal Status ∙ sole trader (sole traders) N-COUNT sole proprietor (sole proprietors) N-COUNT A sole trader is a person who owns their own business and does not have a partner or any shareholders. The sole proprietor of a business is the owner of the business, when it is owned by only one person. Finance for a sole trader usually comes from the individual's own savings or from family and friends. ... a firm of solicitors of which he was the sole proprietor. ∙ partnership (partnerships) N-VAR Partnership or a partnership is a relationship in which two or more people, businesses, or industries work together as partners. ... the partnership between Germany's banks and its businesses. Alex and Mikhail were in partnership then: Mikhail handled the creative side; Alex was the financier. ∙ limited company (limited companies) N-COUNT limited liability company (limited liability companies) N-COUNT Ltd ABBREVIATION A limited company or limited liability company is a company whose owners are legally responsible for only a part of any money that it may owe if it goes bankrupt. The word Limited or the abbreviation 'Ltd' is used in the name of a company to show that it is a limited company, [mainly BRIT] They had plans to turn the club into a limited company. There are advantages in being a limited liability company. He is the founder of International Sports Management Limited. ∙ plC (pICS) N-COUNT In Britain a pic is a company whose shares can be bought by the public. Pic is usually used after the name of a company and is an abbreviation for 'public limited company'. ... British Telecommunications pic. This licence would not allow him to trade as a pic. ∙ franchise (franchises, franchising, franchised) Ш N-COUNT A franchise is an authority that is sold to someone by an organization, allowing them to sell its goods or services or to take part in an activity which the organization controls. ... the franchise to build and operate the tunnel. Talk to other franchise holders and ask them what they think of the parent company. Щ VERB If a company franchises its business, it sells franchises to other companies, allowing them to sell its goods or services. She has recently franchised her business. It takes hundreds of thousands of dollars to get into the franchised pizza business. ∙ franchisee (franchisees) N-COUNT franchiser (franchisers) N-COUNT franchising N-UNCOUNT A franchisee is a person or group of people who buy a particular franchise. A franchiser is an organization which sel: franchises. Franchising is the act of selling franchises in a business. Cianfranco Ferre, the Italian fashion house, has seen its main British franchisee go bust. ...Dunkin' Donuts, a franchiser of doughnut shops. One of the most important aspects of franchising is the reduce: risk of business failure it offers to franchisees. ∙ holding company (holding companies) N-COU-. A holding company is a company that has enough shares ir one or more other companies to be able to control the other companies. ...a Montreal-based holding company with interests in telecommunications, gas and natural resources. ∙ subsidiary (subsidiaries) N-COUNT parent company (parent companies) N-COUNT wholly-owned subsidiary (wholly-owned subsidiaries) N-COUNT A subsidiary is a company which is part of a larger and more important company, known as the parent company. A wholly-owned subsidiary is a company whose shares are all owned by another company. ... British Asia Airways, a subsidiary of British Airways. Each unit including the parent company has its own, local management. The Locomotive Construction Company Ltd is a wholly-owned subsidiary of the Trust. ∙ sister company (sister companies) N-COUNT Sister companies are two or more companies which are owned by the same parent organization. ... Midland Bank's sister company, the Hang Seng Bank. ∙ associated company (associated companies) N-COUNT An associated company is a company in which between 20-and 50% of the shares are owned by another company or group. A large shareholding should provide considerable influence (but not control) over the associated company. ∙ group (groups) N-COUNT A group is a number of separate commercial or industrial firms which all have the same owner. The group made a pre-tax profit of £1.05 million. О multinational: Topic 1.4 20Business and Businesses - Business Strategy ∙ strategy (strategies) N-COUNT A strategy is a plan or set of plans intended to achieve something, especially over a long period. What should our marketing strategy have achieved? Community involvement is now integral to company strategy. ∙ grow (grows, growing, grew, grown) VERB If someone grows a business, they take actions that will cause it to increase in wealth, size, or importance. To grow the business, he needs to develop management expertise and innovation across his team. A lot of smaller enterprises have problems raising capital to grow their business. ∙ expansion strategy (expansion strategies) N-COUNT An expansion strategy is a set of planned policies and actions intended to make a company bigger or more successful. This confidence has enabled NWV to pursue an aggressive expansion strategy. Last year the firm tripled its business on the Continent. ∙ acquisition (acquisitions) N-VAR If a company or business person makes an acquisition, they buy another company or part of a company. ... the acquisition of a profitable paper recycling company. The high street bank beat six other bidders to make the acquisition. ∙ takeover (takeovers) N-COUNT A takeover is the act of gaining control of a company by buying more of its shares than anyone else. ...the proposed £3.4 billion takeover of Midland Bank by the Hong Kong and Shanghai. Now the French group is ready to launch a takeover bid for the whole company. Common Collocations a hostile takeover a proposed takeover a takeover offer a takeover battle a takeover bjd ∙ joint venture (joint ventures) N-COUNT A joint venture is a business or project in which two or more companies or individuals have invested, with the intention of working together. Financial News Network announced today that it will be sold to a joint venture created by Dow Jones and Westinghouse Broadcasting. Chiroscience recently signed a joint-venture agreement with Medeva, giving Medeva the rights to license some of its discoveries. ∙ consortium (consortia or consortiums) N-COUK- A consortium is a group of people or firms who have agree; to co-operate with each other. The consortium includes some of the biggest building contraa in Britain. These teams will be asked to form consortia to take over the n health authorities being set up from next April. Four consortiums are bidding for two contracts to modernise track, signalling, stations and trains. ∙ join forces (joins forces, joining forces, joined forces) PHRASE If you join forces with someone, you work together in order:э achieve a common aim. Both groups joined forces to persuade voters to approve a tax break for the industry. William joined forces with businessman Nicholas Court to laurz*\ the new vehicle. ∙ merge (merges, merging, merged) VERB merger (mergers) N-COUNT If one company merges with another, or is merged with another, they combine to form a single company. You can also say that two companies merge, or are merged. A merger : the joining together of two separate companies or organization; so that they become one. The C&G has said it will pay the bonus only to widows and widowers when it merges with Lloyds in August He sees sense in merging the two agencies while both are new. ...a merger between two of Britain's biggest trades unions. ... the proposed merger of two Japanese banks. ∙ global reach N-UNCOUNT When people talk about the global reach of a company or industry, they mean its ability to have customers in many different parts of the world. The company does not yet have the global reach of its bigger competitors. It would have to grow by acquisitions or joint ventures to achie. global reach. ∙ local partner (local partners) N-COUNT A company's local partners are companies based in foreign countries with whom they form a partnership in order to help them to start doing business in that country. On-line banking services were already popular in the USA and Microsoft would seek local partners to develop the service in Australia. О vertical integration: Topic 1.1; franchise: Topic 2.4; ailing: Topic 7.4 22 14
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