Conclusion

Closing the talk: To sum up,…To finish, I would like to say/ to remind you…

In conclusion,…

Private property — basic right of the free enterprise system that guarantees the individual’s right to own, use, and dispose of things of value.

This emphasis on private ownership arises, in part, from American beliefs about personal freedom. From the time the nation was created, Americans have feared excessive governmental power, and they have sought to limit government’s authority over individuals – including its role in the economic realm. Americans generally believe that an economy characterized by private ownership is likely to operate more efficiently than one with substantial government ownership.

Product manager – a manger in a company who is responsible for the development and marketing of a particular product.

Production – the act or process of producing, manufacturing; the entire amount produced.

International trade takes place because there are gains to be made from specialized production and because differences in productive efficiency between countries means that there will be cost differences and price differences, which leads to a pattern of trade developing.

America jumped to a huge productivity lead early last century by developing a resource- and capital-intense, high-through style of manufacturing producing mass market goods.

Profile – a short description giving the key information about a company.

Project – organized activity for a stated purpose.

Promoter – a person responsible for the formation of the company.

Promotion:

- the giving or receiving of a higher position or a more important job, with more responsibilities and a better salary;

- an advertising or publicity campaign aimed at increasing the demand for a particular product.

Public utilities – in the UK such as gas, water, electricity, and telecommunications were privatized during the 1980s and 1990s. The process of privatization involves the government transferring ownership from itself (the public sector) to share-holders (the private sector). Most governments in the world embraced free-market economies in this period and a feature of this is less government intervention in the economy and hence the privatization of industries.

Q

Quality –

- the quality of something is how good or how bad it is: poor-quality workmanship.

This cut in funding will affect the quality of education in our universities.

- a high standard: accompany with a reputation of quality and reliability;

- a positive feature of a person’s character: What is the quality you most admire in others? Do you possess the right personal qualities to be a manager?

a woman with strong leadership qualities (the ability to be a good leader)

Qualitative research/ qualitative market research – a type of market research, in the form of interviews or group discussions that aims to find out people’s attitudes and opinions about products or services.

carry out qualitative research (to generate ideas for new products)

Building quality. Quality costs less than its lack: look after a penny and the profits will take care of themselves. To build a quality product, you must do two things:

- worry about the design and the procedures;

- include feature to aid quality checking.

It is a question of attitude. If one of the team spots a modification in the design or the procedures which will have a log term benefit, then that must be given priority over the immediate schedule. The design is never quite right; you should allocate time specifically to discussing improvement. In this you should not aim at actual enhancements in the sense of added features or faster performance, but towards simplicity or predicting problem area. This is an adjunct to the normal design or production operations – the extra mile which lesser teams would not go.

Many products and services do not lend themselves to quality monitoring. These should be enhanced so that the quality becomes easily tracked. This may be a simple invitation for the «customer» to comment, or it could be a full design modification to provide self-checking or an easy testing routine. Any product whose quality cannot be tracked should naturally become a source of deep anxiety to the whole team – until a mechanism is devised.

R

Recruitment – the process of selecting and hiring new employees for an organization.

A recruitment agency/ interview/ officer; staff recruitment; recruitment techniques

Redundancy – the loss of a job by an employee because there is no longer any work; jobs lost or people dismissed in this way.

Recession — the bottom of the business cycle; a period of low business activity and high unemployment. Period of general economic decline, defined usually as a contraction in the GDP for six months (two consecutive quarters) or longer. Marked by high unemployment, stagnant wages, and fall in retail sales, a recession generally does not last longer than one year and is much milder than a depression. Although recessions are considered a normal part of a capitalist economy, there is no unanimity of economists on its causes.

Reports and summaries – in business planning and writing reports, making summaries and taking notes are important skills which may be expected of everyone. We tend only to write reports when we are asked to, usually by our boss or superior. Many people are afraid of writing reports. There is no good reason for this. Its’ often simply a question of stopping and thinking about what it is you have to do and then doing it. And it is a question of practice. Reports can serve various purposes. There are reports which inform, report which provide background information to help someone make up their mind about something and there are reports which in themselves make recommendations or indicate a course of action.

The preparation and writing of a report falls into four stages:

- Assembling the material;

- Planning the report;

- Drafting the report;

- Editing the report.

Research – the detailed study of something in order to discover new facts: historical/ economic/ international linguistic research.

Research paper/ research project/ program.