Internetové stránky, kde můžete najít obchodní terminologii: http://www.investopedia.com http://www.businessdictionary.com http://www.investorwords.com http://original.britannica.com http://google.cz http://en.wikipedia.org http://www.yourdictionary.com http://www.washingtonpost.com http://www.biz.yahoo.com/f/g/ http://www.thefreedictionary.com/ http://www.dictionarylink.com/ OBE = Oxford Business English (CD ROM) p.6 bear in mind mít na mysli, myslet na (ve smyslu brát v úvahu) engage (the audience) zapojit/upoutat (publikum) Listening 1.1 adhere to (custom, plan) držet se, dodržovat (zvyk, plán) approval souhlas customary obvyklý, tradiční respond/react to reagovat na take for granted brát jako samozřejmost p.7 adjust upravit delivery pronesení řeči, proslovení gesture gesto pace tempo script scénář (tady osnova prezentace) visual aids vizuální pomůcky p.8 backdoor cutting-edge technology downtime empower zmocnit, posílit home market domácí/vnitřní trh informed choice kvalifikované/erudované rozhodnutí turnover obrat (podniku) p.9 comprehension porozumění Department of Commerce embassy velvyslanectví, ambasáda facial expression výraz tváře figure sth out přijít na něco high stakes situace, kdy je hodně v sázce information overload mutual vzájemný, oboustranný non-verbal message neverbální sdělení pitfall nástraha, záludnost rehearse nacvičovat set the stage připravit půdu pro simplify zjednodušit soak-in time čas na vstřebání (informace) Market Leader Unit 1 - Being international connotations (positive vs. negative) OBE: a positive/negative idea suggested by a word in addition to its main meaning; students can find this in any dictionary Wiki: a method of bypassing normal authentication, securing remote access to a computer, obtaining access to plaintext, and so on, while attempting to remain undetected OBE: the newest, most advanced stage in technology; found in dictionaries OBE: the period of time when a machine, especially a computer, is not working and cannot be used a Cabinet department of the United States government concerned with promoting economic growth (easily found using google) (informační přetížení) www.businessdictionary.com: stress induced by reception of more information than is necessary to make a decision (or that can be understood and digested in the time available) tap into p. 10&11 Chamber of Commerce eye contact oční kontakt networking venue místo (konání něčeho) p.12&13 attitude to sth postoj/přístup k něčemu culture shock kulturní šok dignitary hodnostář dress code pravidla oblékání earn trust získat si důvěru initial počáteční jump to conclusions dělat unáhlené závěry liaise udržovat/mít spojení loss of face ztráta tváře/prestiže, blamáž offensive urážlivý relocated přesídlený superficial povrchní Unit 27: Global brands agent zástupce direct investment exclusive agent výhradní zástupce export manager manažer exportu global brand globální značka global offerings globální nabídka glocalization http://www.usingenglish.com/reference/phrasal-verbs/tap+into.html: use or exploit a plentiful resource for your benefit OBE: a group of business people in a particular town or area who work together to help their trade and provide information and training in business OBE: a system of meeting and talking to other people who may be useful or helpful to you in your work; www.businessdictionary.com: creating a group of acquaintances and associates and keeping it active through regular communication for mutual benefit Business Vocabulary in Use - Advanced OBE: money that people or companies of one country invest in another by buying property, building factories, buying businesses etc.; www.businessdictionary.com: Defined by the International Monetary Fund (IMF) as "Investment that is made to acquire a lasting interest in an enterprise operating in an economy other than that of the investor, the investor's purpose being to have an effective voice in the management of the enterprise." In practice, this translates to an equity holding of 10 percent or more in the foreign firm. OBE: a strategy where a company is operating all around the world but adapts its products or services and its manufacturing methods to make them suitable for local conditions; www.investopedia.com: A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market. This means that the product or service may be tailored to conform with local laws, customs or consumer preferences. Products or services that are effectively "glocalized" are, by definition, going to be of much greater interest to the end user. indirect vs. direct export joint venture licensing udělení licence licensing agreement licenční dohoda right to produce under licence právo vyrábět v licenci sales area oblast prodeje Unit 46: Global forces Asian tigers containerization developing/less developed countries (LDCs) rozvojové země economic output free movement of capital volný pohyb kapitálu GDP per capita HDP na jednoho obyvatele/na hlavu Gross Domestic Product (GDP) HDP Gross National Income hrubý národní produkt (=HDP) high living standards vysoká životní úroveň income distribution distribuce příjmu industrialized countries = advanced economies vyspělé země interdependence vzájemná závislost middle-income countries země se středním příjmem (HDP na hlavu mezi $3000 a $10 000) newly industrialized countries (NICs) nově industrializované země shipping costs přepravní náklady the North vs. the South the West Third World třetí svět trade liberalization OBE: goods or services that are sold to another country through another company, sometimes in a different country vs. goods sold directly to customers in another country; www.businessdictionary.com: exports that are not handled directly by the manufacturer or producer but through an export agent or freight forwarder vs overseas sales in which a producer or supplier controls all activities and collects all drawbacks OBE: a new business that is started by two or more companies, often in the form of an independent company whose shares they own; www.investorwords.com: a contractual agreement joining together two or more parties for the purpose of executing a particular ; abusiness undertakingll parties agree to share in the profits and losses of the enterprise OBE: any South-East Asian country whose economy is growing very fast, students know this (kontejnerizace) www.businessdictionary.com: transportation of cargo in containers (that can be interchanged between ships, trains, and trucks) with standardized handling equipment, and without rehandling the contents OBE: the amount of sth that a person, machine,organization or industry produces www.businessdictionary.com: the North: Collective term for the developed countries most of whom are situated to the north of the developing countries (the South). & the South: Collective term for the developing countries most of whom are situated to the south of the developed countries (the North). Wiki: In the current political or economic context the term the "West" often includes developed nations in the East, such as Japan, Taiwan and South Korea. However, these nations have different and distinctive cultures, religions (although Christianity is a major religion in South Korea), languages, customs, and worldviews that are products of their own indigenous development, rather than solely Western influences. Japan, in particular, is a founding member of the G8, a member of the OECD, an industrialized democracy, with a high standard of living, high level of human development and a major economic power. All of these are generally accepted political or economic characteristics of Western nations. (liberalizace trhu) OBE: to make the rules that apply to trade less strict, to make it easier for more people to take part; similar definition can be found on www.businessdictionary.com Unit 47: Investment and debt capital inflows vs. outflows příliv vs. odliv kapitálu convertible currency směnitelná/konvertibilní měna cross-border capital flows mezinárodní pohyb/tok kapitálu debt burden dluhové břemeno debt reduction snížení dluhu debt service dluhová služba devaluation = depreciation devalvace foreign exchange crisis (pl. crises) devízová krize International Monetary Fund (IMF) Mezinárodní měnový fond poverty reduction snižování chudoby private direct investment soukromá přímá investice (firmy nebo individuálního investora) relief or forgiveness úleva při splácení dluhu, odpuštění dluhu repatriate rescheduling or restructuring restrukturalizace dluhu stimulation of growth stimulace růstu unsustainable level of debt neudržitelná úroveň dluhů World Bank Světová banka Millennium Development Goals http://www.un.org/millenniumgoals/: The eight Millennium Development Goals (MDGs) ­ which range from halving extreme poverty to halting the spread of HIV/AIDS and providing universal primary education, all by the target date of 2015 ­ form a blueprint agreed to by all the worlďs countries and all the worlďs leading development institutions. (repatriovat) OBE: to send money or profits back to your own country Heavily Indebted Poor Countries (HIPCs) a group of 37 developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank. p.14 coaching face-to-face learning mentoring Listening 2.1 agenda program (schůze, jednání) cope with poradit si, vypořádat se, vyrovnat se (s něčím) delegate delegovat, pověřit něčím in-tray p.15 appraisal posudek appraise zhodnotit mentee mentor skills gap rozdíl mezi požadovanými dovednostmi a dovednostmi zaměstnanců/uchazečů to volunteer přihlásit se dobrovolně p.16 (reading) bricks-and-mortar university "kamenná" univerzita (vs.online univerzita) consortium critical mass globally recognised globálně uznávané/rozpoznatelné tuition fees školné Market Leader Unit 2 - Training OBE: to give somebody training, lessons or advice OBE: involving people in the same room or place OBE: to advise someone less experienced than you; www.businessdictionary.com: Employee training system under which a senior or more experienced individual (the mentor) is assigned to act as an advisor, counselor, or guide to a junior or trainee. The mentor is responsible for providing support to, and feedback on, the individual in his or her charge. one-to-one learning OBE: between two people only; this term is also used for computer-based learning, but iťs not the meaning here high-flyer (a person) http://www.phrases.org.uk/meanings/high-flyer.html: High-flyers, sometimes spelled high-fliers, are people who have achieved notable success, especially those who have become successful more quickly than is normal; OBE: a person who has the desire and the ability to be very successful in their job http://www.thefreedictionary.com/in-tray: a tray used in offices for incoming letters or documents requiring attention; OBE: a container on your desk for letters and other documents that are waiting to be read or answered OBE: a person who receives advice and help from somebody with more experience over a period of time; www.businessdictionary.com: The student of a mentor is called a protégé or mentoree/mentee OBE: an experienced person who advises and helps somebody with less experience over a period of time; www.businessdictionary.com: there's a defintion of a mentor in the "mentoring" definition blended learning Wiki: Blended Learning is the combination of multiple approaches to learning. Blended learning can be accomplished through the use of 'blendeď virtual and physical resources. A typical example of this would be a combination of technologybased materials and face-to-face sessions used together to deliver instruction. www.investorwords.com: a group of individuals or companies formed to undertake an enterprise or activity that would be beyond the capabilities of the individual members www.businessdictionary.com: revenue level at which fundamental changes can occur in a firm, and can make it largely self-sufficient in resources for continued viability, vitality, and growth; OBE: the number of customers, amount of resources etc. needed to allow a business, industry, etc. to make a profit and continue without outside help p.17 fad přechodná móda manageable chunks zvládnutelné kusy pros and cons argumenty pro a proti p.18&19 (business skills) be on first-name terms říkat si křestními jménami (obdoba našeho tykání) staff induction p.20 (case study) customer base klientela fast-moving consumer goods (FMCG) rychloobrátkové spotřební zboží field sales prodej v terénu product range sortiment zboží sales force prodavači, prodejci testimonial Listening 2.5 implement zavést, implementovat, uskutečnit implementation zavedení, implementace, realizace in-store coaching zaškolení na pracovišti (v obchodě) on-the-job training zaškolení na pracovišti pro-active timescale časové měřítko trouble shooter poradce pro odstraňování problémů Unit 7: Managing talent attracting and retaining staff přitahovat/lákat a udržet si zaměstnance disband rozpadnout se, zrušit (spolek, organizaci) expertise odbornost, odborná znalost human performance lidský výkon intellectual property duševní vlastnictví (úvodní zaškolení, zapracování); www.businessdictionary.com: introducing the job and organization to the recruit - and him or her to the organization; it involves orientation and training of the employee in the organizational culture, and showing how he or she is interconnected to (and interdependent on) everyone else in the organization; OBE: the process of introducing sb to a new job, skill, organization, etc. (dobrozdání, reference) www.businessdictionary.com: written recommendation from a celebrity or satisfied customer affirming the performance, quality, and/or value of a product or service www.businessdictionary.com: action and result oriented behavior, instead of the one that waits for things to happen and then tries to adjust (react) to them Business Vocabulary in Use Advanced core competent BviU: talented individual possessing the skills that make products and services unique creative (a person) www.thefreedictionary.com: One who displays productive originality: the creatives in the advertising department. suits (informal) OBE: people with important jobs as managers in a company or an organization, especially those thought of as being mainly concerned with financial matters or having a lot of influence; BviU defines them simply as "businesspeople"; www.thefreedictionary.com: (slang) One who wears a business suit, especially an executive. Unit 9: The right skills empathy EQ non-authoritarian and non-dictatorial neautoritativní a nediktátorský self-awareness uvědomení si sama sebe self-regulation seberegulace social skills tactful taktní, diskrétní the talent (people) OBE: people or person with a natural ability to do sth well; http://www.thefreedictionary.com: A person or group of people having such ability (talent): The company makes good use of its talent. virtual organization OBE: a group of companies, employees, suppliers, customers, etc. that work together using computer equipment, telephones and other technology in order to provide a service or a product; www.businessdictionary.com: One that (1) does not have a physical (bricks and mortar) presence but exists electronically (virtually) on the internet, (2) is not constrained by the legal definition of a company, or (3) is formed in an informal manner as an alliance of independent legal entities. emotional intelligence OBE: the ability of a person to understand, control and use their feelings and to understand the feelings of others the ability to identify oneself mentally with, and so understand, a person or thing (any dictionary) OBE: measurement of emotional intelligence; emotional intelligence quotient intrapersonal skills BviU: knowing yourself (i.e. self-awareness) www.businessdictionary.com: Ability to communicate, persuade, and interact with other members of the society, without undue conflict or disharmony. hard vs. soft skills BviU: technical vs. interpersonal/people skills; www.businessdictionary.com: soft skills: Communicating, conflict management, human relations, making presentations, negotiating, team building, and other such ability, defined in terms of expected outcomes and not as a specific method or technique such as statistical analysis. interpersonal intelligence www.edwebproject.org/edref.mi.th6.html: ability to interact with others, understand them, and interpret their behavior known as interpersonal intelligence (= emotional intelligence) p.22 housing bydlení, bytová výstavba, zajišťování bydlení (služba) urban planning plánování rozvoje města utilities podniky veřejných služeb Listening 3.1 capital-intensive kapitálově/investičně náročný public private partnership waste-disposal system systém likvidace odpadu (hospodaření s odpadem) (also waste management) Listening 3.2 rent and service charges poplatky za pronájem a manipulační poplatky a tender to tender time and cost overrun překročení časového plánu a nákladů p.23 accountability odpovědnost, povinnost skládat účty to commission pověřit, zmocnit, zadat p.24 (Reading) donor-funded project projekt financovaný dárcem multilateral institution vícestranná instituce (ve které se zúčastňují 3 a více národů, firem nebo jiných skupin) Market Leader Unit 3 - Partnerships Private Finance Initiative (PFI) http://www.dh.gov.uk/en/Procurementandproposals/Publicprivate partnership/Privatefinanceinitiative/index.htm: The private finance initiative (PFI) provides a way of funding major capital investments, without immediate recourse to the public purse. Private consortia, usually involving large construction firms, are contracted to design, build, and in some cases manage new projects see the definition in Market Leader (competitive) tendering www.businessdictionary.com: Bidding process that is open to all qualified bidders and where the sealed bids are opened usually in public for scrutiny and are chosen on the basis of price and quality. Also called open tender or public tender. www.businessdictionary.com: Sealed bid or offer document submitted in response to a request for tenders and containing detailed information on requirements and terms associated with a potential contract. to submit a tender value for money www.businessdictionary.com: Utility derived from every purchase or every sum of money spent. VFM is based not only on the minimum purchase price (economy) but also on the maximum efficiency and effectiveness of the purchase. emerging market www.businessdictionary.com: New market structures arising from digitalization, deregulation, globalization, and open-standards, that are shifting the balance of economic power from the sellers to the buyers. In such markets information is freely and widely available, and is almost instantly accessible. To compete in these scenarios, a firm must adopt new processes based information technologies, and must keep a close watch on the price, quality, and convenience trends. International Finance Corporation (IFC) (Mezinárodní finanční korporace) http://www.ifc.org/about revenue příjem, výnos risk averse neochotný riskovat sanitation hygiena p.25 be wary of stavět se ostražitě k bring sth in line srovnat (něco) joint venture podnik se společnou majetkovou účastí think tank p.26&27 anticipate předvídat, očekávat, tušit concession ústupek to confer with someone radit se s někým draft koncept feasibility proveditelnost, uskutečnitelnost integrity bezúhonnost, poctivost, čestnost, celistvost intimidation zastrašování proofread provádět korektury register styl/způsob vyjadřování vague nejasný, neurčitý Listening 3.3 to drive a hard bargain prosazovat svůj zájem, tvrdě smlouvat ve svůj prospěch, jít tvrdě za svým p.28&29 (case study) cargo terminal odbavovací budova pro zboží catering stravování concession koncese, oprávnění k provozování to recoup investments OBE: to get back money that has been invested; www.businessdictionary.com: Direct or indirect recovery of funds spent (such as R&D costs) on an activity (such as from licensing the resulting know how). to service a debt OBE: to pay interest on money that has been borrowed; students can use the definition of debt service from BViU (Unit 1) upfront financing OBE: financed in advance; "upfront" can be found in any dictionary, e.g. freedictionary: Paid or due in advance: up-front cash. OBE: a group of experts who provide advice and ideas on political, social or economic issues; www.businessdictionary.com: Research institute (usually independently financed) staffed with interdisciplinary group of experts engaged in the study of policy issues in business and government. The term, first applied in 1940's to the Rand corporation (funded largely by the Ford Foundation), is now loosely applied to any group formed to solve a problem or to study a particular topic. chainstore (chain store) OBE: a shop/store that is one of a series of similar shops-stores in many different towns and cities owned by the same company; www.businessdictionary.com: Group of retail outlets owned by one firm and spread nationwide or worldwide, such as Body Shop, K-Mart, Wal-Mart. Chain stores usually have (1) similar architecture, (2) store design and layout, and (3) choice of products. repeat business http://encarta.msn.com/dictionary_561533970/repeat_business.html: business from satisfied customers: further patronage that a business receives from customers who were happy with their previous service from the business a win-win situation OBE: a situation in which everybody involved gains something; www.businessdictionary.com: Negotiation philosophy in which all parties to an agreement or deal stand to realize their fair share (not 100 percent) of the benefits or profit. a forecast předpověď, prognóza to forecast předpovídat, prognózovat freight volume hub airport incur způsobit, přivodit overflight charges poplatky za přelet penalty fine pokuta risk allocation rozdělení rizika to sub-contract zadat zakázku subdodavateli take-off and landing charges poplatky za odlétání a přistávání track record (good/poor/strong track record) in sth Listening 3.4 State Treasury státní pokladna amount of transported goods www.businessdictionary.com: Strategically located airport or city where a carrier's major facilities and operations are housed, and where most of its scheduled flights originate from or terminate at. OBE: all the past achievements, successes or failures of a person or an organization; http://idioms.thefreedictionary.com/track+record: all of the past achievements or failures of a person or organization. Additional vocabulary (a text about Public services from Wikipedia, http://en.wikipedia.org/wiki/Public_services) downloaded 11.7.2008 Public services From Wikipedia, the free encyclopedia navigationsearch Public services is a term usually used to mean services provided by government to its citizens, either directly (through the public sector) or by financing private provision of services. The term is associated with a social consensus (usually expressed through democratic elections) that certain services should be available to all, regardless of income. Even where public services are neither publicly provided nor publicly financed, for social and political reasons they are usually subject to regulation going beyond that applying to most economic sectors. Public services is also a course that can be studied at college and/or university. These courses can lead entry in to the: police, ambulance and fire services. It is also an alternative term for civil service. Sectors Public services tend to be those considered so essential to modern life that for moral reasons their universal provision should be guaranteed, and they may be associated with fundamental human rights (such as the right to water). An example of a service which is not generally considered an essential public service is hairdressing. In modern, developed countries the term public services often includes, Broadcasting, Education, Electricity, Fire service, Gas, Health care, Military, Police service, Public transportation, Social housing, Telecommunications, Town planning, Waste management, Water services Characteristics A public service may sometimes have the characteristics of a public good (being nonrivalrous and non-excludable), but most are merit goods, that is, services which may (according to prevailing social norms) be under-provided by the market. In most cases public services are services, i.e. they do not involve manufacturing of goods such as nuts and bolts. They may be provided by local or national monopolies, especially in sectors which are natural monopolies. They may involve outputs that are hard to attribute to specific individual effort and/or hard to measure in terms of key characteristics such as quality. They often require high levels of training and education. They may attract people with a public service ethos who wish to give something to the wider public or community through their work and are prepared to work harder for less pay as a result. (John Kenneth Galbraith has looked at the role of such "public virtue" in economic growth.) History Historically, the widespread provision of public services in developed countries usually began in the late nineteenth century, often with the municipal development of gas and water services. Later, other services such as electricity and healthcare began to be provided by governments. In most developed countries such services are still provided by local or national government, the biggest exceptions being the U.S. and the UK, where private provision is more significant. Nonetheless, such privately-provided public services are often strongly regulated, for example (in the US) by Public Utility Commissions. In developing countries public services tend to be much less well developed. Water services, for example, may only be available to the wealthy middle class. For political reasons the service is often subsidised, which reduces the finance available for expansion to poorer communities. Nationalization Main article: Nationalization Nationalization really took off following the World Wars of the first half of the twentieth century. Across Europe, because of the extreme demands on industries and the economy, central planning was required to ensure the maximum degree of efficient production was obtained. Many public services, especially electricity, gas and public transport were products of this era. Following the second world war, many countries also began to implement universal health care and expanded education under the funding and guidance of the state. Privatization Main article: Privatization There are several ways to privatise public services. A free-market corporation may be established and sold to private investors, relinquishing government control altogether. This essentially ends the public service and makes it a private service. Another option, used in the Nordic countries, is to establish a corporation, but keep ownership or voting power essentially in the hands of the government. For example, the Finnish state owns 49% of Kemira, the rest being owned by private investors. government enterprise vládní podnik/podnikání merit goods nadřazené statky municipal městský, komunální, obecní nationalisation zestátnění, znárodnění nationalise zestátnit, znárodnit central planning http://en.wikipedia.org/wiki/Planned_economy: the state or government controls all major sectors of the economy and formulates all decisions about their use and about the distribution of income fundamental human rights http://www.answers.com/topic/universal-declaration-of-human- rights natural monopoly (přirozený monopol) http://www.progress.org/fold74.htm: A "natural monopoly" is defined in economics as an industry where the fixed cost of the capital goods is so high that it is not profitable for a second firm to enter and compete. Natural monopolies are typically utilities such as water, electricity, and natural gas; www.businessdictionary.com: Situation where one firm (because of a unique raw material, technology, or other factors) can supply a markeťs entire demand for a good or service at a price lower than two or more firms can. Such situations occur usually in case of utilities or where a market can support only one producer (because the decreasing returns to scale make the optimum plant size large in relation to the demand) or where long-range average total cost is declining with higher output throughout the range of the possible demand. non-excludable http://en.wikipedia.org/wiki/Excludability: In economics, a good or service is said to be excludable when it is possible to prevent people who have not paid for it from enjoying its benefits, and non-excludable when it is not possible to do so. A 49% share doesn't make it a "government enterprise", but it means that all other investors together would have to oppose the state's opinion in order to overturn the state's decisions in the shareholder's meeting. Regulated corporation can also acquire permits on the agreement that they fulfill certain public service duties. When a private corporation runs a natural monopoly, then the corporation is typically heavily regulated, to prevent abuse of monopoly power. Lastly, the government can buy the service on the free market. In many countries, medication is provided in this manner: the government reimburses part of the price of the medication. Also, bus traffic, electricity, healthcare and waste management are privatized in this way. One recent innovation, used in the UK increasingly as well as Australia and Canada is public-private partnerships. This involves giving a long lease to private consortia in return for partly funding infrastructure. Public services versus Services of General Interest At the European level, some countries use the name service of general interest, while other prefer public services. It has been a discussion, for instance during the writing of the european constitution (the word services of general interest has been used). Many people feel this way. Also most see the two names as synonyms, the services of general interest doesn't imply that the "public services" are delivered by public servants, but can also be delivered by a private company. ETUC named its petition "for high quality public services" but explains "Public services are known as Services of general interest (SGI) and Services of general economic interest (SGEIs) in European Union terminology." overturn zvrátit, změnit privatisation privatizace privatise privatizovat a public good veřejný statek reimburse refundovat, finančně nahradit relinquish government control vzdát se vládní kontroly subsidise dotovat, subvencovat subsidy dotace, subvence under-provided universal provision univerzální poskytování (např. služeb) non-rivalrous/non-rival http://en.wikipedia.org/wiki/Rivalrous: nonrival goods may be consumed by one consumer without preventing simultaneous consumption by others. Most examples of nonrival goods are intangible. Television is an example of a nonrival good: when a consumer turns on a set, this doesn't prevent the TV in another consumer's house from working. Here, the nonrival good is not the TV but rather the television service. More generally, most intellectual property is nonrival. Nonrival, tangible objects include, for example, a beautiful scenic view; http://www.investopedia.com/terms/r/rival_good.asp: Non-rival goods are the opposite of rival goods. These goods allow consumption or possession to multiple users. National parks, roads and the internet are examples of non-rival goods. there is not enough of it in the market (should be logical) public service ethos "Woodhouse (1997) describes PSE as `an amalgam of beliefs and norms or conventions of behaviour [concerning public service]'. This ethos serves as an ethical core or code for civil servants and officials." from http://soc.kuleuven.be/io/ethics/paper/Paper%20WS2_pdf/Vandenabeele& Horton.pdf service of general interest used to substitute the term public services (services of general interest doesn't imply that the "public services" are delivered by public servants, but can also be delivered by a private company ­ this is from the wikipedia text itself ) p.34 (Listening 4.1) affect ovlivnit, postihnout bring about zapříčinit, způsobit, přivodit complementary doplňkový, komplementární, alternativní entrants účastník, závodník fossil fuel fosilní palivo imply obsahovat, znamenat, naznačovat liquefy zkapalnit, (roz)tavit se natural gas zemní plyn pipeline ropovod, potrubí prosperous prosperující, úspěšný unbundle rozdělit do jednotlivých obchodních transakcí p.35 costly nákladný, drahý counterbalance vyvážit, vyrovnat face čelit greenhouse gas implication důsledek, dopad, dosah measure opatření on a large scale ve velkém měřítku watchdog hlídací pes, časovací jednotka p.36-37 algae řasy at best přinejlepším, v nejlepším případě back podporovat biomass break down rozložit (chemicky) breakthrough průlom, objev build-up nahromadění, nárust, přírůstek bulky objemné, neskladné catalyst katalyzátor catch on uchytit se, ujmout se density hustota DOE Department of Energy drawback nevýhoda, nedostatek engineer projektovat, konstruovat flammable hořlavý, zápalný four-wheel drive pohon na čtyři kola Market Leader Unit 4 - Energy energy efficiency Percentage of total energy input to a machine or equipment that is consumed in useful work and not wasted as useless heat. global warming Steady increase in the Earth's average lower atmosphere temperature due to emissions and build up of greenhouse gases. While this temperature has risen by 0.6°C in the last 140 years, it may rise from 1.5°C to over 2.0° C by the year 2070, and could completely alter climate zone patterns resulting in increased or decreased rainfall, winds, snow, and other unprecedented weather phenomenon. The rising temperature could melt the polar ice caps and cause sea levels to rise everywhere, permanently flooding many low lying parts of the earth. The temperate areas in Asia and Americas might experience crop failures due to drier and hotter conditions. plyn způsobující skleníkový efekt Organic matter available on renewable basis, such as agricultural crops, aquatic plants, animal, municipal, and wood wastes. fuel cell palivová buňka, palivový článek fuel tank palivová nádrž gas tank benzínová nádrž guzzle žrát (auta palivo) hydrogen vodík chair předsedat, řídit chicken-and-egg dilema, která věc je příčina a která následek in view v zorném poli, na dohled inescapable nevyhnutelná liquefy zkapalnět long shot riskantní podnik on the way na cestě pipe vést potrubím power pohánět pressurize stlačit propel pohánět, hnát rev up rozproudit, vystupňovat rugged odolné, robustní, silný, pevný severe vážný, kritický siphon vysát, odčerpat take the initiative chopit se iniciativy take up zabírat to the exclusion of na úkor nečeho trigger vyvolat, způsobit, odstartovat truck dopravovat nákladními vozy upshot závěr, konec, celkový výsledek waste heat odpadní teplo withstand odolat, vydržet, snést yield přinést, dávat p.38 (Listening 4.2) come down to spočívat v, záležet na in-depth hloubkový, podrobný, obsáhlý jump to a conclusion dělat ukvapené závěry reconsider znovu uvážit run the risk of podstoupit riziko čeho sleep on it počkat s rozhodnutím do dalšího dne staff turnover fluktuace zaměstnanců p.39 furthermore mimo to, nadto, dále ještě given vzhledem k thereby tímto, a tím, čímž with reference to pokud jde on, co se týká with regard to ohledně, pokud jde o Case study profit margin Ratio of profit after taxes to cost-of-sales, often expressed as a percentage. It is one of the measures of the profitability of a firm, and an indicator of its cost structure. Formula: After-tax profit x 100 ÷ cost of sales. Listening 4.3 phase out postupně vyřadit, přestat používat skylight střešní okno Unit 43: Green issues afforestation zalesnění credentials pověřovací listiny deforestation odlesnění degradation rozklad, odbourávání degrade rozkládat se, rozpadat se, odbourávat se discharge vypouštět, vylučovat dispose of zbavit se, zlikvidovat dump skládat odpad; skládka, smětiště effluent odpadní voda incinerator spalovna landfill zavážka, skládka odpadů logging dřevorubectví, těžba dřeba overfish vychytat ryby pollutant reafforestation znovuzalesnění recyclable recyklovatelný stringent tvrdý, přísný Unit 50: Sustainable development carbon dioxide CO2 hydrocarbon uhlovodík bottom line Net income after tax; Refers to a company's net earnings, net income or earnings per share (EPS). Bottom line also refers to any actions that may increase/decrease net earnings or a company's overall profit. A company that is growing its net earnings or reducing its costs is said to be "improving its bottom line"; Most companies aim to improve their bottom lines through two simultaneous methods: growing revenues (i.e., generate top-line growth) and increasing efficiency (or cutting costs). operating cost Cost per unit of a product or service, or the annual cost incurred on a continuous process. Operating costs do not include capital outlays or the costs incurred in design and implementation phases of a new process. think out of the box Thinking outside the box requires different attributes that include: Willingness to take new perspectives to day-to-day work, Openness to do different things and to do things differently, Focusing on the value of finding new ideas and acting on them, Striving to create value in new ways, Listening to others, Supporting and respecting others when they come up with new ideas. Out-of-the box thinking requires an openness to new ways of seeing the world and a willingness to explore. Out-of-the box thinkers know that new ideas need nurturing and support. They also know that having an idea is good but acting on it is more important. Results are what count. Business Vocabulary in Use - Advanced In general, substance or energy introduced into the environment that has undesired effects, or adversely affects the usefulness of a resource. A pollutant may cause long- or short-term damage by changing the growth rate of plant or animal species, or by interfering with human amenities, comfort, health, or property values. Pollutants may be classified by various criteria: (1) By the origin: whether they are natural or man-made (synthetic). (2) By the effect: on an organ, specie, or an entire ecosystem. (3) By the properties: mobility, persistence, toxicity. (4) By the controllability: ease or difficulty of removal. irreversible nezvratný, nevratný put into effect uvést do praxe, realizovat reversible reverzibilní, vratný sustain udržet, zachovat sustainable development dlouhodobě udržitelný rozvoj triple bottom line Financial, social, and environmental effects of a firm's policies and actions that determine its viability as a sustainable organization. p.42 (Listening 5.1) come up (opportunity) vyvstat, objevit se commit zavázat se commitment přijatý závazek fixed-term contract smlouva na dobu určitou full-time work zaměstnání na plný úvazek maternity leave mateřská dovolená part-time work práce na částečný pracovní úvazek redundancy package odstupné/odškodné při propouštění pro nadbytečnost make sb redundant propustit pro nadbytečnost self-employment samostatná výdělečná činnost shift směna shift work práce na směny temporary contract časově omezená smlouva Listening 5.2 accepted wisdom vžitý názor, obecný názor exaggerate přehánět, nadsazovat finding objev, nález loosen uvolnit profoundly hluboce, naprosto tenure doba zastávání úřadu, funkce workforce pracovní síla, zaměstnanci p.43 (Listening 5.3) bargain smlouva, výhodná koupě; smlouvat, vyjednávat career progression kariérní postup directive instrukce, předpis, směrnice cash-in-hand cash in actual possession, assets in the form of money Market Leader Unit 5 - Employment trends casual labour migrant worker irregular employment or part-time labour, including the labour of workers whose normal employment consists of a series of short-term jobs. Casual labour is usually hired by the hour or day or for the performance of specific tasks, while part-time labour is typically scheduled for a minimum number of hours per week. the United Nations' definition is very broad, essentially including anyone working outside of their home country. In some countries, notably the U.S., the term has a specific connotation that the work will be low paid. The term can also be used to describe someone who migrates within a country, possibly their own, in order to pursue work such as seasonal work. teleworking porfolio worker Substitution of telecommunications for transportation in a decentralized and flexible work arrangement which allows part or full time employees to work at home via a computer attached to the employer's data network. Telecommuting is suitable for well defined and well structured routine jobs with clear and fixed goals, and not for complex jobs with fuzzy or fluid objectives requiring personal contact. The term was coined by the US aerospace engineer Jack Nilles in 1973. Called telework in Europe. A worker who holds multiple jobs or contracts in multiple fields with multiple companies; www.wordspy.com: For portfolio workers, money comes in fits and starts from different sources. There may be a bit of pension, some part-time work, some fees to charge or things to sell. Portfolio people lead cash-flow lives, not salary lives. bargaining power In negotiating, capacity of one party to dominate the other due to its influence, power, size, or status, or through a combination of different persuasion tactics. gap propast, rozdíl, rozpor bridge the gap překonat propast mezi .... hour-glass přesýpací hodiny in terms of ve vztahu k lend support to podpořit measure opatření minimum wage minimální mzda notion představa, pojem, ponětí occupation zaměstnání, povolání middle-ranking job povolání na středu žebříčku semi-skilled částečně vyškolený, kvalifikovaný skilled kvalifikovaný, odborně školený; odborný unskilled nekvalifikovaný, nevyučený, nezapracovaný; neodborný p.43 attempt pokusit se, usilovat; pokus downturn pokles foresee předvídat, tušit foreseeable předvídatelný legislation zákonodárství, legislativa introduce legislation zavést, předložit zákony overtime přesčas work-life balance p.44 get on well/badly with sb vycházet s někým dobře/špatně flexible working hours klouzavá/pružná pracovní doba perks promotion opportunities příležitosti k povýšení p.45 albeit třebaže, ačkoliv alert to sth vědomý si čeho answer for nést následky za, zodpovídat se z attrition úbytek zaměstnanců counteroffer protinávrh, protinabídka footloose bez závazků, volný futile marný, zbytečný, neúčinný gimmick reklamní trik, vtipný nápad headcount počet přítomných inherently z podstaty jet-leg syndrome pásmová nemoc, ospalost a únava po cestování letadlem do jiného časového pásma outgrowth přímý důsledek, následek outstrip předehnat, předčit poach přetáhnout (zaměstnance) profligate marnotratný, marnivý, zhýralý restlessness nepokoj, neklid, netrpělivost spawn zplodit, zrodit surmount překonat, převyšovat telecommute pracovat z domu hour-glass economy larger increases in job growth in the high-wage and low-wage ends of the income spectrum, declines in job growth for the middle class. the balance between an individuaľs work and personal life Informal word for perquisites which are privileges granted to employees in addition to their salaries and benefits (such as medial and pension plans). 'True' perks have little or no cash value or tax implications and may include company car, vacations, reserved parking space, spacious office, private dining and washroom facilities, etc. trauma nervový šok, duševní otřes, trauma undermine podkopat, zničit, podrýt unmatchable jedinečný, unikátní, bezkonkurenční virtue ctnost, dobrá vlastnost p.46 compound znásobit, ztížit, zhoršit drive sb up the wall rozzuřit někoho k nepříčetnosti give in vzdát se, podlehnout, ustoupit grasp pochopit, porozumět mediator zpostředkovatel, prostředník tension napětí, napjatá situace p.47 bend the rules udělat výjimku z pravidel, povolit něco zakázaného resolve vyřešit underhand tajný, pokoutný Case study chill out vychladnout, zuvolnit, přibrzdit good practice obvyklé a osvědčené postupy, metody, praxe length of service délka praxe, odsloužené roky resentful rozzlobený, rozčilený workload pracovní zátěž Unit 4: Employment and employability career move kariérní přechod, posun core functions stěžejní, hlavní úkoly employable zaměstnantelný directbanking opposed to retail banking, done by means of telephone, Internet, e-mail or mobile phone absenteeism feedback Voluntary non attendance at work, without valid reason. Absenteeism means either habitual evasion of work, or willful absence as in a strike action. It does not include involuntary or occasional absence due to valid causes, or reasons beyond one's control, such as accidents or sickness. Process in which the effect or output of an action is 'returneď (fed-back) to modify the next action. Feedback is essential to man-made systems such as education system and economy. As a two-way flow, feedback is inherent to all interactions. In an organizational context, feedback is the information sent to an entity (individual or a group) about its prior behavior so that the entity may adjust its current and future behavior to achieve the desired result. Feedback occurs when an environment reacts to an action or behavior. For example, 'customer feedback' is the buyers' reaction to a firm's products and policies, and 'operational feedback' is the internally generated information on a firm's performance. Response to a stimuli (such as criticism or praise) is considered a feedback only if it brings about a change in the recipienťs behavior. job satisfaction morale Contentment (or lack of it) arising out of interplay of employee's positive and negative feelings toward his or her work. Psychological state of a person as expressed in self-confidence, enthusiasm, and/or loyalty to a cause or organization. Morale flows from the people's conviction about the righteousness or worth of their actions and the hopes of high rewards (material or otherwise) in the future. Business Vocabulary in Use - Advanced freelancer in-house vnitropodnikový outsource zadávat subdodavatelské zakázky professional development profesní vývoj, rozvoj set up on one's own udělat se pro sebe Unit 5: Flexibility and inflexibility fire vyhodit give a notice dát výpověď hire najmout job market pracovní trh job insecurity nejistota zaměstnání job sharing make for napomáhat, vést redundancy payments odstupné sick pay nemocenské dávky parental leave temporary worker brigádník, na výpomoc temp agency agentura poskytující pracovníky na výpomoc Unit 6: Work-life balance boundary hranice, mez burn out vyčerpat se, unavit se, vyhořet breakdown zhroucení, kolaps destress snížit / eliminovat stress downshift podřadit, zařadit nižší rychlostí stupeň lifelong learning Working on a contract basis for a variety of companies, as opposed to working as an employee for a single company. Freelancers are often considered to be self-employed, and have the freedom to pick and choose their projects and companies they would like to be associated with. A common profession for freelancing is writing; a writer then has the ability to submit their work to many different places, without being tied to any one company in particular. Lifelong learning is the concept that "Iťs never too soon or too late for learning". Lifelong learning is attitudinal; that one can and should be open to new ideas, decisions, skills or behaviours. Lifelong learning throws the axiom "You can't teach an old dog new tricks" out the door. Lifelong learning sees citizens provided with learning opportunities at all ages and in numerous contexts: at work, at home and through leisure activities, not just through formal channels such as school and higher education. a leave of absence from a job for a parent to care for a new baby. social charges Alternative work schedule in which two employees voluntarily share the responsibilities of one full time job, and receive salary and benefits on pro-rata basis. Job sharing creates regular part time (half days, alternative days, alternative weeks, etc.) where there was one full time position, and thus avoids a total loss of employment in a layoff. the costs to employers of the fringe elements of worker renumeration, namely, bonuses and gratuities, payments in kind, payment for time not worked, obligatory social security contributions, non-obligatory social security contributions, direct benefits paid to workers, and subsidies of various services for the benefit of the worker. trade unions umenployment benefits Organization whose membership consists of workers and union leaders, and whose principal purposes are to (1) negotiate wages and working condition terms, (2) regulate relations between workers (its members) and the employer, (3) take collective action to enforce the terms of collective bargaining, (4) raise new demands on behalf of its members, and (5) help settle their grievances. Government welfare scheme under which employable persons who are unemployed through no fault of their own (but are available for work and are actively seeking paying jobs) are given monthly sums (called unemployment benefit) for sustenance. overlap překrývat se play politics or devious way, as for job advancement rebalance znovu najít rovnováhu role ambiguity dvojznačnot / mnohoznačnost role stress toll počet obětí stresu stress-related illness nemoci související se stresem stressful stresový stressed out vystresovaný effort-reward imbalance home-work imbalance The model of effort-reward imbalance (ERI) claims that failed reciprocity in terms of high efforts spent and low rewards received in turn is likely to elicit recurrent negative emotions and sustained stress responses in exposed people. Conversely, positive emotions evoked by appropriate social rewards promote well-being, health and survival. the imbalance between work and personal lives. The lack of balance "is due to long work hours, changing demographics, more time in the car, the deterioration of boundaries between work and home, and increased work pressure; How much is work invading your personal life, and how much of your personal life is affected by the stress of trying to balance all the many responsibilities in your life office politics to deal with people in an opportunistic, manipulative, stress management the use of one's individual or assigned power within an employing organization for the purpose of obtaining advantages beyond one's legitimate authority. Those advantages may include access to tangible assets, or intangible benefits such as status or pseudo-authority that influences the behavior of others. Both individuals and groups may engage in Office Politics; Office politics differs from office gossip in that people participating in office politics do so with the objective of gaining advantage, whereas gossip can be a purely social activity. However, both activities are highly related to each other; Office politics also refers to the way co-workers act among each other. It can be either positive or negative. techniques intended to equip a person with effective coping mechanisms for dealing with psychological stress, with stress defined as a person's physiological response to an internal or external stimulus that triggers the fight-or-flight response. Stress management is effective when a person utilizes strategies to cope with or alter stressful situations. p.50 concerns zájmy get a bad/good press mít špatný/dobrý ohlas v tisku, v médiích irregularities nesprávnost (proti předpisům), nesrovnalost, nepoctivé jednání, nekalé praktiky in the long run nakonec pay lip service pouze slovní podpora, neupřímné sliby practices provozní předpisy, směrnice, praktiky, postupy, obvyklé metody Listening 6.1 cover-up kamufláž human dignity lidská důstojnost labour laws pracovní právo payback splatnost take advantage of využít, těžit z p.51 pursuit of snaha o dosažení, honba za, usilování Market Leader Unit 6 - Business Ethics business ethics The examination of the variety of problems that can arise from the business environment, and how employees, management, and the corporation can deal with them ethically. Problems such as fiduciary responsibility, corporate social responsibility, corporate governance, shareholder relations, insider trading, bribery and discrimination are examined in business ethics. corporate citizenship The extent to which businesses are socially responsible for meeting legal, ethical and economic responsibilities placed on them by shareholders. The aim is for businesses to create higher standards of living and quality of life in the communities in which they operate, while still preserving profitability for stakeholders. As demand for socially responsible corporations increases, investors, consumers and employees are now more willing to use their individual power to punish companies that do not share their values. For example, investors who find out about a company's negative corporate citizenship practices could boycott its products or services, refuse to invest in its stock or speak out against that company among family and friends. corporate social responsibility Corporate initiative to assess and take responsibility for the company's effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups. Corporate social responsibility may also be referred to as "corporate citizenship" and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change. Companies have a lot of power in the community and in the national economy. They control a lot of assets, and may have billions in cash at their disposal for socially conscious investments and programs. Some companies may engage in "greenwashing", or feigning interest in corporate responsibility, but many large corporations are devoting real time and money to environmental sustainability programs, alternative energy/cleantech, and various social welfare initiatives to benefit employees, customers, and the community at large. labour costs Wages paid to workers during an accounting period on daily, weekly, monthly, or job basis, plus payroll and related taxes and benefits (if any). code of conduct / code of practice Written guidelines issued by an official body or a professional association to its members to help them comply with its ethical standards. Listening 6.2 bottom line rozhodující faktor come down to spočívat v čem, záležet na at the end of the day nakonec p.52 as opposed to na rozdíl, v protikladu engagement závazek, povinnost, angažovanost, zainteresovanost foreword předmluva fuzzy zmatený, nejasný, neurčitý generalization zevšeobecńování, vyvozování obecných závěrů tackle pustit se, dát se do, vypořádat se s trust důvěra, zodpovědnost waffle blábol, tlachy, kecy, žvanění work out vyřešit, rozřešit p.53 abuse zneužít adherence dodržování, zachovávání carry out provést, uskutečnit, vykonat credibility důvěryhodnost, věrohodnost face up to postavit se, přijmout fall into náležet, spadat follow suit následovat hold sb for account for sth pohnat koho k zodpovědnosti za co, kárat koho za co risk management Policies, procedures, and practices involved in identification, analysis, assessment, control, and avoidance, minimization, or elimination of unacceptable risks. A firm may use risk assumption, risk avoidance, risk retention, risk transfer, or any other strategy (or combination of strategies) in proper management of future events. stakeholder Person, group, or organization that has direct or indirect stake in an organization because it can affect or be affected by the organization's actions, objectives, and policies. Key stakeholders in a business organization include creditors, customers, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Although stake-holding is usually self-legitimizing (those who judge themselves to be stakeholders are de facto so), all stakeholders are not equal and different stakeholders are entitled to different considerations. For example, a firm's customers are entitled to fair trading practices but they are not entitled to the same consideration as the firm's employees. corporate governance Traditionally defined as the ways in which a firm safeguards the interests of its financiers (investors, lenders, and creditors). The modern definition calls it the framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in the firm's relationship with its all stakeholders (financiers, customers, management, employees, government, and the community). This framework consists of (1) explicit and implicit contracts between the firm and the stakeholders for distribution of responsibilities, rights, and rewards, (2) procedures for reconciling the sometimes conflicting interests of stakeholders in accordance with their duties, privileges, and roles, and (3) procedures for proper supervision, control, and information-flows to serve as a system of checks-and-balances. Also called corporation governance. incentive pobídka, podnět, stimul jump on the bandwagon přidat se k úspěšné/vítězné straně junk food bufetová, nezdravá strava mark out odlišovat, činit ojedinělým oversee dohlížet, kontrolovat phase out postupně vyřadit z činnosti, přestat užívat plain srozumitelná, otevřený, jasný set out vysvětlit, vyjasnit set up zřídit, zbudovat shy away from ustupovat, uhýbat, couvat p. 54 intimate naznačit, dát najevo irregular expenses zvláštní, mimořádné výdaje merit přednost, klad on the grounds of z důvodu, kvůli, na základě shortlist užší seznam tender veřejná soutěž Listening 6.3 blackmail vydírat in one's favour / in favour of ve prospěch koho/čeho justify ospravedlnit, oprávnit on the line v ohrožení, v sázce p.55 (Listening 6.4) address sth uchopit, pojmenovat, vypořádat se (s problémem) guidelines směrnice, direktiva, vodítko human rights Fundamental rights which humans have by the fact of being human, and which are neither created nor can be abrogated by any government. Supported by several international conventions and treaties (such as the United Nation's Universal Declaration of Human rights in 1948), these include cultural, economic, and political rights, such as right to life, liberty, education and equality before law, and right of association, belief, free speech, information, religion, movement, and nationality. Promulgation of these rights is not binding on any country, but they serve as a standard of concern for people and form the basis of many modern national constitutions. The best-known expression of human rights is in the US Declaration of Rights in 1776. incentive programme/scheme HR: Employee motivational program designed to encourage commitment to increasing productivity or in achieving some worthwhile objective such as reducing the number of manhours lost due to accidents. supply chain Entire network of entities, directly or indirectly interlinked and interdependent in serving the same consumer or customer. It comprises of vendors that supply raw material, producers who convert the material into products, warehouses that store, distribution centers that deliver to the retailers, and retailers who bring the product to the ultimate user. Supply chains underlie value-chains because, without them, no producer has the ability to give customers what they want, when and where they want, at the price they want. Producers compete with each other only through their supply chains, and no degree of improvement at the producer's end can make up for the deficiencies in a supply chain which reduce the producer's ability to compete. get the ball rolling rozjet to, spustit to, uvést věci do pohybu sort out vyřešit, rozlousknout, uspořádat Case study clean-up úklid, vymýcení, vyčištění competitive edge konkurenční výhoda devise vymyslit, navrhnout endorse podporovat, propagovat, vystoupit v reklamě enforce vynutit si, vymáhat; uplatnit, prosadit feasible proveditelný, uskutečnitelný follow up with navázat čím high-profile přitahující pozornost child labour zaměstnávání dětí na plný úvazek incite podněcovat, navádět, provokovat make the difference podstatně zlepšit outlaw postavit mimo zákon, prohlásit za nezákonné stitch up osočit, nařknout, falešně obvinit skoulet to, zmáknout někoho undernourished podvyživený viable uskutečnitelný, realizovatelný, životaschopný Unit 41: Ethics and business account for objasnit, vysvětlit; zodpovídat, mít zodpovědnost accountable zodpovědný bribe uplácet, úplatek ethics integrity misconduct neprofesionální chování, zneužití úřední moci oversee dozírat, kontrolovat probity bezúhonnost, poctivost company policy / corporate policy Usually, a documented set of broad guidelines, formulated after an analysis of all internal and external factors that can affect a firm's objectives, operations, and plans. Formulated by the firm's board of directors, corporate policy lays down the firm's response to known and knowable situations and circumstances. It also determines the formulation and implementation of strategy, and directs and restricts the plans, decisions, and actions of the firm's officers in achievement of its objectives. recruitment Process of identifying and hiring best-qualified candidate (from within or outside of an organization) for a job vacancy, in a most timely and cost effective manner. sweatshop Business establishment that makes its employees work under harsh and often hazardous conditions, and pays only minimal or survival wages. Business Vocabulary in Use - Advanced code of ethics Written guidelines issued by an organization to its workers and management, to help them conduct their actions in accordance with the its primary values and ethical standards. Investigation into the basic concepts and fundamental principles of human conduct. It includes study of universal values such as the essential equality of all men and women, human or natural rights, obedience to the law of land, concern for health and safety and, increasingly, also for the natural environment. Strict adherence to a moral code, reflected in transparent honesty and complete harmony in what one thinks, says, and does. Unit 44: Corporate governance board of directors správní rada compensation odškodnění, náhrada, bonifikace critical rozhodující, velmi důležitý, zásadní executive vedoucí/řídící pracovník fat cat zazobanec management board správní rada remuneration plat, odměna seat členství supervisory board dozorčí rada Unit 45: Ethical investment trasparency Lack of hidden agendas and conditions, accompanied by the availability of full information required for collaboration, cooperation, and collective decision making. Essential condition for a free and open exchange whereby the rules and reasons behind regulatory measures are fair and clear to all participants. chief executive officer (CEO) Top executive responsible for a firm's overall operations and performance. He or she is the leader of the firm, serves as the main link between the board of directors (the board) and the firm's various parts or levels, and is held solely responsible for the firm's success or failure. One of the major duties of a CEO is to maintain and implement corporate policy, as established by the board. Also called President or managing director, he or she may also be the chairman (or chairperson) of the board non-executive directors Non-working director of a firm who is not an executive director and, therefore, does not participate in the day-to-day management of the firm. He or she is usually involved in planning and policy making, and is sometimes included to lend prestige to the firm due to his or her standing in the community. Non-executive directors are expected to monitor and challenge the performance of the executive directors and the management, and to take a determined stand in the interests of the firm and its stakeholders. They are generally held equally liable as the executive directors under certain statutory requirements such as tax laws. Also called external director, independent director, or outside director. severance pay / payoff / payout Amount granted to an employee whose job has been eliminated, under a union (collective bargaining) agreement and for no other reason. share option / stock option Option that gives its holder the right to buy or sell a firm's common stock (ordinary shares) at a specified price and by a specified date. Stock options are customarily a part of executive compensation package. Dow Jones Sustainability World Index A global index consisting of the top 10% of the largest stocks in the Dow Jones Global Indexes (which cover more than 2,500 companies) in terms of their sustainability and environmental practices. The index was started in 1999, and is maintained by Dow Jones in conjunction with SAM Group, a Zurich-based research firm that conducts detailed sustainability analyses of thousands of global market-cap leaders each year. The index is weighted based on free-float market capitalization, and changes are made once each year in September based on the newest sustainability scores. Each company represented in the index has its corporate sustainability assessed through an intricate weighting system that looks at economic, environmental and social metrics, as well as industry-specific criteria. Companies are also evaluated each year; those that fail to show consistent progress may be removed from the index. The Dow Jones Sustainability World Index covers dozens of industry groups and has members in more than 20 nations. Because of increased investor appetite for socially-conscious investments and corporate environmental responsibility, the index has been licensed by many private wealth managers to use as a benchmark, and has billions of assets under management pegged to it. credentials pověřovací listiny, certifikáty foster pečovat, podporovat, napomáhat v rozvoji sound stálý, stabilní, důvěryhodný preferred stock A class of ownership in a corporation that has a higher claim on the assets and earnings than common stock. Preferred stock generally has a dividend that must be paid out before dividends to common stockholders and the shares usually do not have voting rights. The best way to think of preferred stock is as a financial instrument that has characteristics of both debt (fixed dividends) and equity (potential appreciation). Also known as "preferred shares". There are certainly pros and cons when looking at preferred shares. Preferred shareholders have priority over common stockholders on earnings and assets in the event of liquidation and they have a fixed dividend (paid before common stockholders), but investors must weigh these positives against the negatives, including giving up their voting rights and less potential for appreciation. bottom line Refers to a company's net earnings, net income or earnings per share (EPS). Bottom line also refers to any actions that may increase/decrease net earnings or a company's overall profit. A company that is growing its net earnings or reducing its costs is said to be "improving its bottom line". The reference to "bottom" describes the relative location of the net income figure on a company's income statement; it will almost always be the last line at the bottom of the page. This reflects the fact that all expenses have already been taken out of revenues, and there is nothing left to subtract. This stands in contrast to revenues, which are considered the "top line" figures. Dow Jones STOXX Sustainability Index A stock index that measures the financial performance of leading European companies as measured by their sustainability practices. The stock universe is the Dow Jones STOXX 600 Index, which captures more than 90% of the aggregate market cap of European-based companies. The STOXX Sustainability Index contains the top 20% of these companies in terms of their aggregate sustainability score as obtained by SAM Group, a Zurich-based research firm. The free float market capitalization-weighted index is reviewed both annually and quarterly; the quarterly reviews focus on share counts and weightings while the annual review incorporates the most recent sustainability scores and industry evaluations. The sustainability indexes aim to capture companies on the leading edge of sustainability practice/reform; the sustainability score that each company receives is based on an intricate weighting system that examines company actions regarding things such as corporate governance, environmental performance, energy efficiency and climate change strategies. The index was first published in 2001, and in addition to the base index there are specialized sub-indexes that exclude industries such as alcohol, tobacco, firearms and gambling. Dow Jones EURO STOXX Sustainability Index A stock index that measures the financial performance of leading Eurozone companies as measured by their sustainability and environmental practices. The stock universe is the Dow Jones STOXX Sustainability Index, from which only companies operating in Eurozone nations (countries that have transitioned to the Euro) are chosen. The index is weighted based on free-float market capitalization and changes to the index are made annually after updated company sustainability scores have been obtained. The sustainability score for each company is calculated using a comprehensive weighting system that looks at company efforts in areas such as climate change, energy efficiency, knowledge management, shareholder relations and corporate governance. In addition, companies are evaluated compared to their own industry, as each industry has its own parameters and inherent environmental issues.