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English definitions (Subject) / Unit 3 (Lesson)
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- autonomous independent, able to take decisions without consulting someone at the same level or higher in the chain of command
- to delegate to give someone else resposibility for doing soemthing instead of you
- function a specific activity in a company, e.g. production, marketing, finance
- hierarchy or chain of command a system of authority with diffrent levels, one above the other, e.g. a series of management positions, whose holders can make decisons, or give orders and instructions
- line authority the power to give instuctions to people at the level below in the chain of command
- to report to to be responsible to someone and to take instructions from them
- cash balance the ammount of money a comapny has in its bank account
- profit margin the difference between the price of a product or service and the cost of producing it, or between the cost of producing all of a companys products or services and the total sum they are sold for
- inventory the ammount of stock, including raw materials, supplies and finished goods, that a company has at a particular time
- self- financing using retained earnings rather than borrowing
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- graduate person who completed a university degree course, especially for a first degree
- downsizing when the managers of a company decide to reduce the number if people working for the compan y in order to save money or increase profits
- subsidary a company that is at least half-owned by onother comapany