Kaarten: Unit 4 - Outsourcing | Quizlet

Custom

A way of behaving or a belief that has been established for a long time

Outsourcing

The process of paying to have part of a company's work done by another company

Offshoring

The practice of basing a business or part of a business in a differenct country, usually because this involves paying less tax or other costs

Nearshoring

The practice of transferring a business operation to a nearby country, especially in preference to a more distant one

Intangible

Impossible to touch, to describe exactly, or to give an exact value

Conducive

Providing the right conditions for something good to happen or exist

To imply

To communicate an idea or feeling without saying it directly

Organic

Happening or developing naturally over time, without being forced or planned by anyone

Perks

Something that you get for working, in addition to your pay, that is not in the form of money

Fringe benefits

Something that you get for working, in addition to your pay, that is not in the form of money

To employ

To have someone work or do a job for you and pay them for it

Gross

An employee's earnings before taxes, benefits and other payroll deductions are withheld from their wages

Net

An employee's earnings after all deductions are taken out

Headquarters

The main offices of an organization such as the army, the police, or a business company

Payroll

A list of the people employed by a company showing how much each one earns

Applicant

A person who formally requests something, especially a job, or to study at a college or university

Flextime

A system of working in which people work a set number of hours within a fixed period of time, but can change the time they start or finish work (BrE: flexitime)

Temp

(abbrevation of temporary) A person employed to work for a short period, especially in an office while another person is absent or when there is extra work

Supplier

A company, person, etc. that provides things, parts, goods that a person or a company wants or needs, especially over a long period of time

Salary

A fixed amount of money agreed every year as pay for an employee, usually paid directly into his or her bank account very month

Wage

A particular amount of money that is paid, usually every week or every month, to an employee, especially one who does work that needs physical skills or strength, rather than a job needing a college education

Turnover

The amount of business that a company does in a specific period of time

Lucrative

(especially of a business, job, or activity) producing a lot of money

Invoice

A list of things provided or work done together with their cost (plus VAT if applicable), for payment at a later time

Quotation

The price that a person or company says they will charge to do a piece of work

Subsidiary

A company that is owned by a larger company. Also known as daughter company

Parent company

A company that controls other smaller companies

Merger

An occasion when two or more companies or organizations join together to make one larger company

Takeover

A situation in which a company takes control of another company by buying enough of its shares

PLC

Public limited company (listed on the stock exchange) - incorporated (Inc.) is the American equivalent

Ltd.

Limited liability company: used in the name of company whose owners have limited responsibility for the money that it owes

SME

Small and Medium Enterprise: a company, or companies considered as a group, that are neither very small nor very large

NGO

Non-governmental organization: an organization that tries to achieve social or political aims but is not controlled by a government

Domestic

Relating to a person's own country

Competitor

Another company that offers the same service/product as you do

Offshoring

The practice of basing a business or part of a business in a different country, usually because this involves paying less tax or other costs

Subcontractor

An outside person or organization that does work for an organization that might normally be done within it

Sweatshop

A small factory where workers are paid very little and work many hours in very bad conditions

Exploit

To use someone unfairly for your own advantage

Working conditions

The working environment and aspects of an employee's terms and conditions of employment

Emerging markets

The markets of developing countries that are rapidly growing and industrializing

Flagship

In the technology industry, it is a term often used to describe the highest-end hardware model offered in a product line

Total cost of ownership

The cost required to maintain and support a hardware or software product or service