Company Structure │ Business Communication │ Vocabulary

Company Structure

Important Vocabulary

  • Autonomous: Independent, able to take decisions without consulting a higher authority
  • Decentralization: Dividing an organization into decision-making units that are not centrally controlled
  • Function: A specific activity in a company, e.g. production, marketing, finance, human resource management
  • Hierarchy: A system of authority with different levels, one above the other
  • Line authority: The power to give instructions to people at the level below in the chain of command
  • Report to: To be responsible to someone and to take instructions from him or her
  • Subordinates: People working under someone else in a hierarchy

  • Industrial belt: An area with lots of industrial companies, around the edge of the city
  • Wealth: The products of economic activity
  • Productivity: The amount of output produced (in a certain period, using a certain number of inputs)
  • Corporate ethos: A company's way of working and thinking
  • Collaboration: Working together and sharing ideas
  • Insulated or isolated: Alone, placed in a position away from others
  • Fragmentation: Breaking something up into pieces

Classifying the Strategies According to the Departments That Would Favor Them

[ finance | marketing | production (or operations) ]

  1. A factory working at full capacity - Production

  2. A large advertising budget - Marketing/Finance

  3. A large sales force earning high commission - Marketing

  4. A standard product without optional features - Production

  5. A strong cash balance - Finance

  6. A strong market share for new products - Marketing

  7. Generous credit facilities for customers - Marketing

  8. High-profit margins - Finance

  9. Large inventories to make sure that products are available - Production

  10. Low research and development spending - Finance

  11. Machines that give the possibility of making various different products - Production

  12. Self-financing (using retained earnings rather than borrowing) - Finance

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More Vocabularies!

Extracted From:

MacKenzie, I. (2002). English for Business Studies: A course for Business Studies and Economics students (Second). Cambridge University Press.

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