Business English - Review for Exams

Review Company Information,Business Phrases& Common Terms used in Business(English Idioms)I am aware that it needs to be done◦It’s on my RadarDive Deeper◦You must get to the bottom of the problem.We are heading in the right direction ◦Positive Momentum.Touch Base◦To get in contact.Business PhrasesCEO –Chief Executive Officer◦Either elected or majority shareholder who runs the companyCFO –Chief Financial Officer◦Deals with Taxes, Annual Reports, Shares, InvestmentsPR –Public Relations◦Deals with all press announcements andinquiriesCompanies Jobs:HR –Human Resources◦Deals with recruitment administration, payroll, training,uniformHSO –Health and Safety Officer◦Inspection of workplaces and their assets to comply with lawMGR –Manager◦Oversees the daily tasks, staff, assets andresponsibilities under their command. They are eitherTechnical or Non-TechnicalCSA –Customer Service Agent◦Front line staff who deal with all aspects of customerservices from complaints and refunds to comments andfeedbackCompanies Jobs:Targets or goals which are easily achievable and which do not require a lot of effort are called?◦Low Hanging FruitWhen you Analyse the economic data you are?◦Running the Numbers.Back to the Drawing Board◦Starting over, examining one's failed plans and beginning anew.To think creatively, unimpeded by orthodox orconventional constraints means to?◦Think outside the boxBusiness PhrasesKPI –Key Performance Indicators◦A way of measuring company/product performanceRRP –Recommended Retail Price◦The recommended price at which a product should be sold™ -Trademark◦Unregistered trademark, shows intent to protect® -Registered◦Registered trademark, holds full copyright protectionP&L –Profit & Loss◦Refers to the reports detailing company finances, highlighting if profits or losses have been made either from a product or theentire companyCOMPANIES -ACRONYMSNP –Net Profit◦Total money after all deductions have been taken. This includesmaterial costs, staff costs, asset costs and taxesGP –Gross Profit◦Total profit before any deductions are made. This is useful for two reasons:◦It gives an indication of the volume of sales◦VAT / Business Tax are calculated from the gross profitGM –Gross Misconduct◦Refers to a serious breach of company rules or a criminal actresulting in one or more employees being dismissedCOMPANIES -ACRONYMSTo convince someone of the importance of what you are saying you.◦Tell a StoryGet Your Ducks in a Row◦Means that you organise yourself and your life.When you are trying to achieve something, and you reach a situation where you cannot make any more progress means that you?◦Hit the WallBusiness PhrasesWhen something requires little mental effort or intelligence to perform or understand we say it is a?◦No BrainerWhat does it mean when people seek mutual benefit in all human interactions, ◦Win-WinBang for your Buck◦Value in exchange for money or effort.Business PhrasesVAT –Value Added Tax◦This is a tax added to everything we buy, sell and save.◦China uses a rate of 17% with a small amount of exceptions at the lower rate of 13%Corporation Tax –A standard tax for all companies ◦Currently this is set at 25% of gross profits in China.Business Tax –This is a category◦It includes taxes which are withheld and paid at the end of the fiscal year. Such as income taxes and VATCOMPANIES -TAXEvery employee in a company is paid for their work ◦This can either be a one time payment or a weekly/monthlyamount. These are known as fixed salaries, non-fixed salaries and contractsNon-fixed salaries refer to a per hour amount ◦Commonly used for part time work or third party servicesFixed salaries refer to an annual amount◦The annual amount will be divided into monthly instalments◦This is commonly used in full time positionsContracts refer to a one time only payment◦Paid on the completion of agreed work or servicesSalaries are always stated in the gross amounts ◦This Is due to taxes and insurances calculated per individualCOMPANIES -SALARIESWe use the table provided to calculate how much tax we should pay on a salary paid to our employees.◦R emember the allowance for each band must be calculatedseparately1 From [RMB)2To[RMB]Tax Rate [%]Difference2 minus 1Tax [RMB]Payable01500315004515004500103000300450090002045009009000350002526000650035000550003020000600055000800003525000875080000Over45OverCalculating Tax on SalariesCommon business terms and what they mean?Mature Market Capital Overheads NicheCash flowStart-up costs Market savvy Venture capitalist A market where there are a lot of similar companies A general term for “money” in businessMoney you pay regularly as costs of running a business A gap in the marketThe money that comes in and out of a business.The money needed to begin a businessThe ability to understand / judge a market very well Someone who makes money by investing in risky businessesCommon Business TermsWhen you set up your company, you need to decide on your USP, what does this mean?◦Something that is unique/special about yourproducts and/or services that sets you apartfrom other businesses.◦USP is key to business success andinvestments.When you set up a company what percentage of shares is required to keep control of that company?◦Minimum of 51 PercentClass CompaniesCOMPANIES –H&S & Company PolicyWhat is Health & Safety?◦Health & Safety is a set of rules governed by law that state companies must protect their employees from harm and dangers at work. Every company should assess their workplace for hazards and either make them safe or create rules to enforce safetyWhat is Company Policy?◦Company Policy in its simplest term is the rules created by the company for its employees to follow.。