Organisation (Unit 2)

Question 1

administration

Answer 1

the process or activity of running a business, or an organisation

Question 2

affiliate

Answer 2

a person or organisation attached to a larger body

Question 3

agency

Answer 3

a business providing a service between to parties

Question 4

board of directors

Answer 4

a group of people, usually chosen by shareholders, who run a company

Question 5

branch

Answer 5

a local office or division of a large organization

Question 6

charity

Answer 6

an organization set up to raise money and provide help for those in need

Question 7

CEO

Answer 7

(Chief Executive Officer) the manager with the most authority in the day-to-day running of the business

Question 8

clerical work

Answer 8

routine administration tasks in an office

Question 9

cooperative

Answer 9

an organization that is owned and run by the people involved

Question 10

corporate identity

Answer 10

the “personality” of a company; the qualities that set it apart from others, often expressed in its name or in the design of its packaging and publicity materials

Question 11

department

Answer 11

a section of a large business, organization or shop

Question 12

distribution

Answer 12

the action or process of supplying goods to retailers (a distribution chain)

Question 13

employee

Answer 13

a person employed for wages or salary

Question 14

employer

Answer 14

a person or organisation that employs people

Question 15

enterprise

Answer 15

a company or business, a project or activity, especially one that is difficult and involves taking risks

Question 16

entrepreneur

Answer 16

a person who starts a business, esp. one involving a financial risk (entrepreneurial flair, to study entrepreneurship)

Question 17

flotation

Answer 17

the process of offering a company´s shares for sale on the stock market for the first time (to float shares on the stock market)

Question 18

founder

Answer 18

a person who starts up a company (to found a company)

Question 19

franchise

Answer 19

an authorization given by a company (the franchisor) for others (the franchisees) to use its name and sell its products in return for payment or share in the profits; the shop, restaurant, etc. selling goods in this way

Question 20

freelancer

Answer 20

a person who is self-employed and who may work for different companies

Question 21

(to) go public

Answer 21

to offer shares for sale to the public (=to float a company)

Question 22

headquarters (HQ)

Answer 22

the head office or main building of an organization

Question 23

hierarchy

Answer 23

an organization with levels in which people higher up give orders to people lower down

Question 24

Human Resources (HR)

Answer 24

the department in a company that deals with employing and training people

Question 25

joint-stock company (AE stock corporation)

Answer 25

a business that is owned by a group of people (its shareholders) who provide its funds, appoint its managers and share its profits and debts

Question 26

legal entity

Answer 26

a person or organization that has the right to make contracts, and to make other legal arrangements

Question 27

limited company (US limited liability company (LLC)) (UK private limited company (Ltd))

Answer 27

a company with limited liability whose shares are not sold to the public

Question 28

limited liability

Answer 28

a legal position in which, if the company cannot pay its debts, the shareholders are responsible only for the money they invested in the company

Question 29

listed company/ public company (US listed corporation (Inc.)) (UK public limited company (plc/PLC)

Answer 29

a company with limited liability whose shares are freely traded

Question 30

maintenance

Answer 30

the routine activity of keeping property and equipment in good condition

Question 31

a non-profit organization (NPO)

Answer 31

an organization that does not issue shares, but uses its profits to achieve its goals

Question 32

open-plan office

Answer 32

a large office space with no dividing walls

Question 33

organization chart

Answer 33

a diagram that shows the structure of an organization and the relationship between different jobs

Question 34

parent company

Answer 34

an organization that owns and controls other companies

Question 35

partnership

Answer 35

a type of business organization made up of professionals (e.g. accountants, lawyers, architects) who work together

Question 36

payroll

Answer 36

a list of the company´s employees and the amount of money they are paid

Question 37

premises

Answer 37

the place (site and building) where a company carries out its business

Question 38

public relations (PR)

Answer 38

the job of presenting a positive image of the organization to the public

Question 39

purchasing

Answer 39

the activity of obtaining supplies of parts, raw materials, equipment or services for a company (also: procurement)

Question 40

quality assurance

Answer 40

the activity of managing the process of producing goods (or providing services) to make sure that they are kept at the standard the customer expects

Question 41

Research and Development (R&D)

Answer 41

the part of a business concerned with designing and testing new products, before they go on to the production phase

Question 42

retailer

Answer 42

a person or business that sells goods to the public

Question 43

sales

Answer 43

1. the amount of goods or services sold (annual sales, sales figures) 2. the business of selling (the sales staff)

Question 44

small to medium-sized enterprise (SME)

Answer 44

a company that does not have a large number of employees (typically less than 500), and does not sell a large amount of goods or services

Question 45

sole trader

Answer 45

a person who has his/her own business

Question 46

staff

Answer 46

all the people employed by a company or organization (also: personnel)

Question 47

stakeholder

Answer 47

anyone who has a direct or indirect interest in the success of an organization

Question 48

start-up

Answer 48

a new company or venture (to start up a company)

Question 49

subsidiary

Answer 49

a company that is at least half-owned by another company

Question 50

supervisory board

Answer 50

a group appointed by shareholders to advise directors on the managing of the company and ensure that everything is done correctly

Question 51

supplier

Answer 51

a company that provides raw materials, parts or equipment to companies that make finished goods

Question 52

warehouse

Answer 52

a building where large quantities of goods can be stored before being sent for sale