Business English Vocabulary: Employment, Trade, Ethics & More
Unit 8: Employment
- To train = new staff
- To shortlist = the candidates
- To advertise = a vacancy/post
- To assemble = an interview panel
- To make = a job offer
- To check = references
- Curriculum Vitae = Resume
- Probationary Period = Trial Period
- Application Form = Employment Request
- Psychometric Test = Psychological Test
- Covering Letter = Correspondence Presentation
- Pep Talk = Motivating Speech
- Mentor = Advisor
- Fast Tracking = Route to Rapid Advancement
- Headhunter = Recruiter
- Financial Package
Unit 9: Trade
- Barriers: Barreras
- Open
Innovation, Quality, and Lean Methods: A Business Analysis
Schumpeter’s Definition of Innovation (1942)
The concept of innovation:
- The introduction of a new good or a new quality of a good.
- The introduction of a new method of production, that is one not yet tested by experience in the branch of manufacture concerned, which need by no means be founded upon a discovery scientifically new.
- The opening of a new market, that is a market into which the particular branch of manufacture of the country in question has not previously entered, whether or not this market
Business Economics: Company Systems and Competitive Strategies
Item 1
Economics: The study of activities related to production, exchange, and consumption, organized to meet needs. It is divided into macro-economics and micro-economics.
Company Systems
The Company: A set of pooled resources with organizational structure and competence to achieve goals through a strategic plan using technological, production, trade, financial, and human functions.
System: Companies are mixed systems, open to achieving goals with psycho-social functions, techniques, organized self-
Analyzing Work and Job Design in Human Resources
Topic 2: Analyzing Work and Designing Jobs
2.1 Work Flow in Organizations
LO 2-1: Summarize the elements of work flow analysis.
Work Flow Design
- The process of analyzing tasks necessary for the production of a product or service.
- With this information, tasks are assigned to specific jobs and positions.
- A job is a set of related duties.
- A position is the set of duties performed by one person.
Elements of Work Flow Analysis:
- Outputs: The products of any work unit. May be tangible or intangible.
- Work processes:
Free Trade, Protectionism, and Economic Shifts: 1800s
Free Trade and Protectionism
1. Protectionism: The Repeal of the Corn Laws
In 1846, Britain abolished the Corn Laws (tariffs on the trade of cereals). It is a 2×2 model = 2 commodities and 2 sectors; however, Labor (L) can only be in 1 sector.
Consequences of the Repeal:
- Point C: If the price (P) of food changes, which in this case falls because of the abolition of the law, there is a new equilibrium point. There will be a fall in the demand for labor in the food sector (DLF) since there are more workers
Understanding Money: Forms and Evolution
Money: A Medium of Exchange
Money is anything that constitutes a commonly accepted medium of exchange or payment. The form that money has taken has changed over time. In the earliest exchanges, money wasn’t used; instead, exchange occurred through barter, or the trading of goods.
As exchanges became more complex, the need arose for a good that could be exchanged for any other and serve as a means of payment. This led to the emergence of commodity money. Commodity money must meet certain conditions:
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