Organisation

Subsidiary

A company that is owned or controlled by another larger company

Warehouse

A large building used for storing goods before they are sold

Outlet

A retail store that sells goods directly to customers

Factory / Plant

A building where goods are made using machines or by workersCal

Call centre

An office used for dealing with customer enquiries

Service centre

A place that provides support and maintenance

Distribution centre

A facility used for receiving and sending goods to customers

Headquarters

The main centre of operations of a company

R&D

Carry out research

Production

Operate assembly lines

Logistics

Transport goods and services

Customer Services

Deal with complaints

Finance

Prepare budgets/accounts

Public Relations

Issue press releases

Human Resources

Train staff

Administration

Keep records

IT

Install and maintain equipment

Sales and Marketing

Run advertising campaigns

Legal

Draw up contracts

Bureaucratic

Involving a lot of regulation, paperwork, and slow, inefficient procedure (“red tape”)

Hierarchical

Having a traditional top-down administrative chain-of-command structure

Democratic

Giving all employees a say in making decisions

Impersonal

Regarding people as employees and not as individuals; having a distant relationship

Centralised

Depending on top-down decision-making by executives and senior management

Professional

Business-like and not amateurish

Decentralised

Promoting decision-making at all levels

Progressive

Innovative and constantly seeking improvement

Caring

Concerned about personal well-being and society

Market Driven

Reacting quickly to changes in trends and demand

Conservative

Very traditional, often old-fashioned and slow to change

Dynamic

Active and energetic

Hostile Takeover

Persons or companies that have begun purchasing large amounts of stock and try to gain control of the corporation away from the present directors

Sole Proprietorship / Sole Trader

Person who sets up and runs a business enterprise, providing all the start-up and operating capital on their own.

• Unlimited liability

• Responsible for any debts the business has

Unlimited Partnership

Fully liable for all debts if the business fails and their personal property is at risk

Limited Partnership

There can be one or more silent partners (sleeping partners) who don’t participate in the management of the company. Silent partners have limited liability (if the company goes bankrupt, they lose their investment but not their personal assets).

Private Limited Company or Private Corporation

Capital is divided into shares owned by at least three shareholders who have limited liability

• Often familiy-owned

• Shareholders must agree before any shares an be bought or sold

Public Limited Company (PLC) / Public Corporation

• Listed on a stock exchange

• Shares can be bought and sold freely

Initial Public Offering (IPO)

First time shares are sold on the stock market

Common Stock

Most shares, stockholders are entitled to a voting share in the company and a portion of the dividend (a percentage of profits) if the company pays dividends

Preferred Stock

Limited stock issues that have no voting shares