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PRE-TEST Flat structure means that staff are organised on various levels, depending on responsibility, with, for example, junior and senior managers. hierarchical structure Company structure is a term used for planning a series of actions in order to achieve company goals. company strategy An office without walls dividing it into separate rooms is called a closed office. open-plan office What term is used for the place where the business of buying and selling shares by companies is done? stock exchange What term is used for the state that a company may declare when it runs out of money and is not able to pay its debts? Bankruptcy What term is used when borrowing money becomes difficult because banks reduce the amount they lend and charge high interest rates? credit crunch What term is used for a difficult time when there is less trade or business activity in a country than usual? Recession For example, 11. i______ p______ (when new team members are introduced and trained into a new job) help them feel part of the company’s culture. induction programmes Training can help drive a proactive and lifelong process of advancing one’s professional path, called 12. c______ d______. career development long-term programmes focus on a wider 13. s______ s______, meaning a combination of different abilities needed to do a particular job. skill set Training can have various forms or 14. d______ m______ (how it is organised): be it in-house, on the job, face to face, online or blended. delivery methods Mentoring has proved to be very useful, too; its participants, called 15. m______, together with their experienced mentors seek resources for learning … mentees A skilful tutor will explain the difference between a professional debate in which you have a particular idea or interest and follow what is best for you, called a 16. p______ n______, and a 17. p______ n______ in which both parts look for common interests and what is good for them. 16.positional negotiation 17.principled negotiation The term 18. d______ t______ refers to new ways of doing things that completely change the existing market, pushing existing businesses to the side. disruptive technology The term 19. d______ m______ describes a process of using a computer to examine large amounts of information, e.g. on customers, in order to find out what is not easily noticed at first sight about them. data mining Regarding digital marketing, the term 20. c______ corresponds to the number of sales generated in relation to the number of visits to a website. conversion rate Identify a mistake in a sentence. Write the correct term. A set of principles and practices that a company feels are important, e.g. equal pay for male and female workers, refers to company image. Company values WORKPLACE CULTURE 1. Company hierarchy refers to staff organised at different levels of responsibility in a 2. 3. 4. 5. 6. 7. 8. 9. company. The values of a company are the beliefs and principles that the company considers important. Organisational behaviour looks at how people in an organisation work together and how this affects the organisation as a whole. A good atmosphere in a company means that employees enjoy working there and have good relationships with each other. A strategy is a plan for achieving an aim. Company structure means the way that the company is organised into departments and levels of responsibility. The image of a company refers to the way the company is seen by the public. An open-plan office is one which does not have walls dividing it into separate rooms. Flexibility refers to people or plans that can be changed easily to suit any new situation. EMPLOYEE RETENTION • Menial tasks – work which needs little skill • Sabbatical – a fixed period of time when someone takes an agreed break from their job • Promotion – the fact of getting a better paid, more responsible job • Work-life balance – a situation in which you are able to give the right amount of time and effort to your work and to your personal life outside work • Diverse work – jobs that are very different from each other TRAINING AND DEVELOPMENT 1. 2. 3. 4. 5. 6. Training courses can help to drive career development. A key part of the induction programme is to help new team members feel a part of the company’s culture. Mentoring can be used for specific job-related training or more general career development. One of the really useful things about being a mentee is that my mentor introduces me to very important people in the industry. An advantage of online courses is that you can do them whenever, wherever. Whatever type or delivery method a company uses, training and development opportunities are important for both staff and the company itself. • When a company needs to check the standards reached in training sessions - it can use benchmarking to do this. • Employers are finding that making e-learning training available to employees - adds to their motivation as they can access the courses when and where they like. • A person with emotional intelligence can - control their emotions and show empathy. • Practical courses are used to teach - skills for the workplace. • A skills set comprises - what a person can or can’t do. • Competency at a job can be learned - through both training and experience. • When there is rapport between people, - it means that there is understanding and friendly agreement in a conversation. • We generally begin with a - needs analysis so that we know which training programmes to offer to which employee. • Do you think that mentoring programmes help junior staff to develop? • What do you think a mentee can learn from a more experienced staff member? • Is it better to have an external trainer for courses or can someone from the company take on this role? • What kinds of things do people learn in job-related training? • Should training programmes be based on what people said in a needs analysis questionnaire, or defined by their managers? • Should a mentor encourage a mentee to solve problems using analytical thinking or tell them what to do based on their own experience? • Why can it be difficult to find the motivation to learn while on the job? • What helps you to be motivated? HUMAN RESOURCE STRATEGIES TRAINING • functional approach • job-orientated • task-orientated • short-term goals • skills specific to a job EITHER TRAINING OR DEVELOPMENT • blended learning • in-house training • external training • mentoring DEVELOPMENT • cross-functional approach • general business skillspreparation for future challenges • long-term goals • preparation for career FINANCE – RECESSIONS AND DEPRESSIONS 1. An investment is something you buy, such as shares, bonds or property, to make a long- term profit. 2. All the money that you have saved, especially in a bank or financial institution is called savings. 3. Losses describe the situation when a company has less money than it did before, for example because sales have gone down. 4. 5. 6. 7. The business of buying and selling stocks and shares is called the stock market. When you are not able to pay your debts, this is called bankruptcy. A(n) loan is an amount of money that you borrow from a bank, financial institution, etc. A(n) credit crunch happens when borrowing money becomes difficult because banks reduce the amount they lend and charge high interest rates. 8. A legal arrangement by which you borrow money from a bank in order to buy a house, and pay back the money over a period of years is called a(n) mortgage. 9. A(n) recession is a difficult time when there is less trade or business activity in a country than usual. 10. A long period during which there is very little business activity is the worst type of financial crisis and is known as an economic depression. • To drop means to fall to a much lower level or amount, or decline. • To go bankrupt is to become insolvent, or without enough money to pay what you owe. • To lend is to let someone borrow money or something that belongs to you for a short time. • To recover is to return to a normal condition after a period of trouble or difficulty. • To boom means to grow rapidly, or be very successful as a business or trade. • To bail someone out means to help a person or a company that is in financial difficulty. • Profitability - the amount of profit a company makes • Make your mark - have an important or permanent effect on something • Boost - improve something and make it more successful • Bottom line - the amount of money that a business makes or loses • Make up ground - replace something that has been lost; become successful again DIGITAL BUSINESS Being disruptive usually refers to causing problems and preventing something from continuing in its usual way. In technology, it refers to an innovation that creates a new market and disrupts existing ones, displacing established companies and products, for example the mobile phone replacing fixed phones. 1. 2. 3. In the cloud’ refers to having software or space for storing information on the internet, rather than on your own computer. A data dump is the act of copying information from one computer to another. Data mining uses a computer to examine large amounts of data, for example about customers, and collect information that is not easily seen. 4. 5. 6. Conversion in digital marketing is the number of sales generated in relation to the number of visits to a website. In computing, a tool refers to a piece of software designed to do a particular task. It can also be a piece of equipment, or a device, or a skill for doing your job. In marketing, DMP stands for Digital Marketing platform. Verb Noun(s) Adjective(s) analyse analysis, analytics, analyst analytical anticipate anticipation anticipated convert conversion converted disrupt disruption, disruptor disruptive innovate innovation, innovator innovative irritate irritation irritable, irritated...