English - Outsourcing & Offshoring, Finance, Beleške od Engleski jezik

Preuzmite English - Outsourcing & Offshoring, Finance i više Beleške u PDF od Engleski jezik samo na Docsity! TOPIC 7 OUTSOURCING 18) Explain the terms OUTSOURCING & OFFSHORING (examples if possible!) Outsourcing- Transfering part of your business process to outside suppliers. (Ina outsources company to hire candidates, aplicants for the jobs) Offshoring- outsourcing, but in other countries, usually oveseas, in lower cost (lower labor costs) countries. (Textile ind makes goods in lower cost countries) 19) Why do companies decide to outsource? Globalization is forcing business to make cost savings by reducing operating cots. One way to do this is by outsourcing. (order processing, call centre management, marketing, IT services,… 20) Possible disadvantages of offshoring? Corporate downsizing, job losses, redundancies in rich countries, esspecially for less skilles… Also possible lower quality of products 21) What makes a country a good candidate for an offshoring host? How do host countries benefit from offshoring? If labour costs are lower, that means great savings for western firms, and also huge economic benefits for low cost countries. But also and for workers in low cost countries, that has meant jobs and rapidly rising standards of living. TOPIC 8 MARKETS 22) Name five types of market mentioned in the coursebook and provide examples for each one. a) commodities market – Like lidl, konzum, plodine,… b) real estate / property market – oglasnik, njuškalo... c) stock market- burze d) consumer goods, mass market- Dolac, Zelena tržnica, … e) Labour market- Burze rada,… 23) What is e-commerce? That is virtual, online environment (web site) that allows individuals or firms to buy and sell goods. (b2b- between two companies, b2c- business to consumer (amazon), c2c- Consumer to consumer- (njuškalo), b2g business to government) 24) What is ebay? Famous online auction site, with a business model that doesn't require carrying any inventory. The greatest advantage of ebay is that customers can rate sellers by Rating system that makes it easy for buyers and sellers to grade each transaction. Positive ratings translate to more sales, and keep people from going to other sites. 25) Explain the difference between a wholesaler and a retailer. Wholesaler is a person or a company that buys merchandise from manufacturers, importers or distributors to retail business Retailer is a business or a person that sells goods to the consumer, opposed to a wholesaler, who sell their goods to another business. TOPIC 9 COUNTERFEITING 26) What role has technology played in the expansion of counterfeiting? New technology has broadened the range of goods that are vulnerable to copying. It has dramatically improved their quality, as well as lowering their cost of production. With the new technology, medicines, mobile phones, food, drink, car parts, even tobacco are much more products are easy to counterfeit. 27) What effects does counterfeiting have on legal businesses? For a start, sale loses, brand losing values, and other long threats to profitability. 28) Why do people buy counterfeiting products? Because they are much more cheaper, and almost indistinguishable from the genuine article. 29) What are the negative effects of buying knockoff branded products? Brand losses, profitability losses, and questinable quality of counterfeit goods. TOPIC 10 FINANCE 30) What is corporate governance? The way in which a company is managed by the people who are working at the highest level in it. 31) What is dividend? That is part of profit of a company that is paid to shareholders. 32) What is a P&L account? A document that shows a company's profit or loss in a particular period (company's profitability) 33) What is a balance sheet? A financial statement that shows a company's assets and debts at a particular time. 34) What is revenue? The amount of money that is brought into a company by its business activities. Revenue is also known as sales. 35) What is accounting? Accounting is process of summarizing, analyzing and reporting business transactions. One of the key functions for almost any business.