Unit 9

Word

Definition

Example

along the lines of

similar in type

I was thinking more along the lines of a higher-end product

assets

useful or valuable qualities, skills, or people

A company's reputation is one of its key assets

assuming somebody

accepting something as true; if

Assuming we commit to that, can you fulfil the order?

be in a really strong position

to be in a situation where you have power over other people or are likely to get what you want

I think we're in a really strong position to find new staff

corporate accountability

the act of being accountable to the stakeholders of an organization, which may include shareholders, employees, suppliers, customers, the local community, and even the particular country(s) that the f

Michelin have a good record in terms of corporate accountability

corporate social responsibility (CSR)

the idea that a company should be interested in and willing to help society and the environment as well as be concerned about the products and profits it makes

Michelin has many projects connected to its corporate social responsibility programme globally

cost-benefit analysis

the process of comparing the costs involved in doing something to the advantage or profit that it may bring

A cost-benefit analysis will tell us if the costs can be covered

critical success factor (CSF)

one of the most important things that a company or organization must do well in order for its business or work to be successful

Obtaining loans was a critical success factor for the project

drain on resources

something that continuously uses a lot of money, property, skills, etc. that you have available to use when you need them

CSR policies can become a huge drain on resources

endangered species

a type of animal or plant that might stop existing because there are only a few of that type alive

The depleted Atlantic rainforest in the east contains most of Brazil's endangered species

expansion

the increase of something in size, number, or importance

Investing in a new IT system could enable expansion

feasibility

the possibility that can be made, done, or achieved, or is reasonable

Once we've checked the project's feasibility, we'll agree goals and objectives

general consensus

the general opinion of the group

So the general consensus is that we can do this

get something

to understand or hear something

I'm afraid I don't get it

knowledge base

a collection of information about a particular subject

Michelin used the local knowledge base in Bahia, Brazil

long-term perspective

the ability to consider things in relation to one another accurately and fairly over a long period of time into the future

Let's look at the situation from a long-term perspective

long-term viability

the degree of chance that something will succeed a long time into the future

We need to ensure the long-term viability of the project

make something clear

to make something easier to comprehend; to help one understand something

Sorry if I didn't make that clear

market value

the price at which something can be sold, at a particular time in a particular place

A sound CSR policy can increase the market value of a company

natural resources

things such as minerals, forests, coal, etc. that exist in a place and can be used by people

They say that Michelin use up natural resources too intensively

not exactly what

used for saying that something is not completely true

No, that's not exactly what I'm saying

not have much choice

used for saying that there is only one possible option

Basically we don't have much choice for a long-term plan like this

options

things that can be chosen from a set of possibilities, or the freedom to make a choice

Well, we have a number of options

provided somebody

if, or only if someone does something

Provided you check out the feasibility, it might work well

put something straight

to make something properly arranged; to fix, correct, or make amends for something

Can I put this straight?

quantifiable data

information, especially facts or numbers, collected to be examined and considered and used to help decision-making, that can be measured and expressed as a number

We require monthly reports and reviews with quantifiable data

realistically

according to the facts and what is possible

Realistically, would we be able to finance this strategy?

return on investment (ROI)

the profit from an activity for a particular period compared with the amount invested in it

What I want is a good return on investment

short-term profit

money that is earned in trade or business after paying the costs of producing and selling goods and services during a period of time of less than one year

Should we dismiss CSR policies in favour of short-term profit?

strategy

a detailed plan for achieving success in situations such as war, politics, business, industry, or sport, or the skill of planning for such situations

We need to develop a clear strategy to move things forward

substantial

large in size, value, or importance

Providing training for everyone would be a substantial investment

sustainable development

economic development that is conducted without depletion of natural resources

It's an example of sustainable development in a poor region

the bottom line

the final line in the accounts of a company or organization, stating the total profit or loss that has been made

For me it's all about the bottom line

track record

all the achievements or failures that someone or something has had in the past

They have a poor track record when it comes to the environment

unfeasible

not feasible (= able to be done or achieved)

Basically we don't have much choice for a long-term plan like this – it's totally unfeasible

way behind

less successful, or making less progress than someone or something else

If we hadn't invested in the system, we'd be way behind the competition