Unit 6

Word

Definition

Example

pursue

to continue trying to find out about or persuade someone about a particular subject

He decided to pursue a career in television

objective

a goal that has been fixed for people to achieve

Creating a good business strategy is all about defining your objectives and being very clear about what you want to achieve

alliance

an arrangement between two or more people, groups or countries by which they agree to work together to achieve something

By the end of the boat trip, alliances will have been forged and bonds strengthened

gain

to obtain or achieve something you want or need

I have a lot to gain by taking this job

access to markets

the ability of a company or country to sell goods and services across borders

The International Trade Centre has developed a suite of online tools to make global trade more transparent and to facilitate access to markets

presence

the state or fact of existing, occurring, or being present

He is a man of great presence

outweigh the costs

to be likely to be more important than or have an effect on something else

Overall, the benefits of mediation clearly outweigh the costs

acquisition

the process of learning or getting something

An acquisition is the purchase of a company or the division of a company

joint venture

a business activity in which two or more companies have invested together

Ford and VW agreed a joint venture to build the Galaxy and Sharon models

long-term

occurring over or relating to a long period of time

Are you aware of the long-term effects of smoking?

regulatory

a regulatory authority has the official power to control an activity and to make sure that it is done in a satisfactory way

I am sure I have contact details of this regulatory agency

approval

when a plan, decision, or person is officially accepted

Mankind had stamped its approval upon certain actions

shareholder

an owner of shares in a company

A shareholder is an owner of shares

equity

the quality of being fair and impartial

Equity is the capital that a company has from shares rather than from loans

stake

a strong wooden or metal post with a point at one end, driven into the ground to support a plant, form part of a fence, mark a boundary, etc

He holds a 40 percent stake of the company

synergy

the extra energy or effectiveness that people or businesses create when they combine their efforts

Team work at its best results in a synergy that can be very productive

turnaround

an abrupt or unexpected change, especially one that results in a more favourable situation

I don't see any vast turnarounds in the way we do business

win-win

good for everyone who is involved

I hope we can end up with a win-win situation, where we both get what we want

guideline

rules or instructions about the best way to do something

He didn't give specific guidelines on writing essays

competitive advantage

an advantage that makes a company more able to succeed in competing with others

Advanced Micro's chip carries the competitive advantage of using less power than Intel's

collaborate

to work together with another person or organisation for a particular purpose

A German company collaborated with a Swiss firm to develop the product

efficiency

a situation in which a person, company, factory, etc. uses resources such as time, materials, or labour well, without wasting any

As part of the drive for efficiency many companies have removed the opportunity to socialise at work

trademark

a symbol, word, or words legally registered or established by use as representing a company or product

All their products carry the company's trademark

stakeholder

a person who is considered to be an important part of an organization or of society because they have responsibility within it and receive advantages from it

Corporate executives need to think about the whole business and how it creates value for customers and stakeholders

hostile

Belonging or appropriate to an enemy; showing the disposition of an enemy; showing ill will and malevolence

Although some animals look friendly, they are often quite hostile

regret

feeling sad or disappointed over some actions

Her biggest regret is not going to university

disapproval

an attitude that shows you think that someone or their behaviour, ideas etc are bad or not suitable

Although they said nothing, she could sense their disapproval of her suggestion

concern

something that is important to you or that involves you

A discrepancy of $100 is a cause of concern

figure out

to understand something or someone after thinking about them

Can you figure out a way to do it?

compromise

to find the solutions which satisfies all

Compromise is an inevitable part of marriage

honesty

the quality of being honest

He lies all the time, I'd question his honesty

admit

to take someone into hospital for medicaltreatment

Customers who blind-tasted the ugly and standard fruit admitted they tasted the same

complexity

the state of having many parts and being difficult to understand or find an answer to

Difficulties were caused by the complexity of the legislation

inevitable

certain to happen; unavoidable

A further escalation of the crisis now seems inevitable