business vocabulary 3

Objectives and strategy:
Aims：setting a long term objective
Business plan: a report which is about marketing strategy, production costing and financial implications of business start-up.
Copyright: It’s a legal protection against copying from others’ writing.
Corporate objectives: The goals of the whole enterprise.
Corporate plan: It’s the document that sets out how business strategy is to be implemented.
Entrepreneur: a person who has flair for business opportunities and risk taking.
Flotation: the term given to the launch of a company on to the stock market by the offer of its shares to the public.
Goals: targets that act as a focus for decision-making and effort.
Limited liability: owners/shareholders are financially only responsible for the amount they have invested in the company rather than their personal wealth.
Share: a certificate entitling the holder to dividends and shareholders’ rights in proportion to the number of shares owned.
Patent: the right to be the sole user or producer of invention of a new process or product.
Partnership: a form of business organization where two or more people trade together.
Private limited company (ltd): a small to medium-size business that is usually run by the family that owns it.
Public limited company (plc): a limited liability business with over £50 000 of share capital and a wide spread of shareholders.
Short-termism: a phrase describing the state of managers for whom rapid results are the top priority.
Sole trader: an individual who owns and control the business, but he may or may not employ other people.
SWOT analysis: It’s the assessment of a product, division or organization in terms of its strengths, weaknesses, opportunities and threats.
Tactics: are measures adopted to deal with a short-term opportunity or threat.
Unlimited liability: means that, the owner of a business is liable for all the debts it may incur.