Company Types and Structure

Company Types and Structure

• A sole proprietorship or partnership is a company owned and run by one person.
• A sole proprietor/sole trader is a person who runs a sole proprietorship.
• Financial obligations are money that must be paid due to previous agreements or contracts like debts or taxes.
• "Settle" means to pay debts or taxes
• Unlimited liability is the legal responsibility one holds for a company's finances.
• Being "personally responsible" means being accountable as a person
• Personal assets are one's private money and belongings.
• Health insurance is the medical protection one is entitled to when making regular contributions.
• Personal Income Tax (PIT) is the amount of money that one needs to pay to the state if one makes a profit.
• Paperwork includes formalities, red tape, and bureaucracy.
• "Fill out" means to complete forms or documents.
• A tax return is a document in which one provides evidence of one's financial activities.
• "Dissolve" means to stop the activity and legal status of a company.
• "Go belly up" means to go bankrupt.
• To "register," means to have the name of one's company officially recorded.
• A Tax Office is a government institution responsible for collecting taxes.
• A business or company account is a bank account used by a company.
• "Rent" refers to leasing a workplace or equipment from somebody.
• A feasible plan is a plan that can be done.
• "Entail" translates to "pociągać za sobą," meaning to involve or imply.
• Taxes and debt both refer to amounts that must be paid off or "spłacić".
• Liability means responsiblity
• Push comes to shove describes when the worst happens
• Income is everything that that you get.
• To be lousy at describes being poor at something
• Liability is responsibility.
• "Push comes to shove" signifies when the worst happens.
• "Income" is everything that one receives.
• "To make ends meet" translates to "wiązać koniec z końcem" and refers to managing to survive financially.
• Being "lousy at" translates to "kiepski w czymś" and describes being poor at something.
• "Manage the business" refers to overseeing and directing a company's operations.
• "Launch/start/run a business" is to create and operate a new company
• "Financial aid" refers to monetary assistance or support.
• "Objectives/goals/targets" are the aims or results one is working towards.
• "Ceased" means that an operation has stopped or terminated.
• A tax haven is a country where businesses pay very little or no taxes, such as the Bahamas or the Cayman Islands.
• Tax evasion is an illegal practice where a person purposely lies to escape paying taxes.
• Tax avoidance is a legal practice where each person has the right to reduce the amount of taxes they pay through deductions.
• PKD stands for Polska Klasyfikacja Działalności (Polish Classification of Activities).
• An entity is a being, unit, or person.
• A chain of command is a hierarchy of power.
• Cost-efficient means economical.
• Adaptable means flexible.
• An innovative solution is a novel or new approach.
• Scope of activity refers to the field of a company's operations, translating to "zakres działań."
• A public company is a company whose capital is sold in the form of shares.
• A private company is a company not intended to be sold in the form of shares.
• "Under law" means according to the principles of law.
• A share (UK) or stock (US) is one of a number of equal parts of a company's wealth that can be sold.
• A stockholder (US) or shareholder (UK) is one of the co-owners of a company.
• A debt collector is a person enforcing the payment of liabilities.
• Not-for-profit organizations include societies and charities.
• To issue" is to offer shares" for sale.
• A stock exchange is the place where stocks can be bought and sold.
• A dividend is a proportional part of the profit made by a company that is paid to the shareholders.

Private Companies in the UK

• They are not permitted under law to offer their shares to the public.
• They can be limited by shares or guarantee.
• A private company limited by shares is the most common type.
• A private company limited by guarantee is usually used by not-for-profit organizations.
• The owners' liability is limited to the amount they have agreed to contribute to the company's assets.
• A private unlimited company is where shareholders can be held personally responsible for all debts as individuals.

Public Companies in the UK

• Public limited companies (PLC) have much greater access to new funds through methods like issuing shares and selling them to the public through the stock exchange.

US Companies

• In the USA, the most common types of businesses are partnerships, corporations, and limited liability companies (LLC).
• In partnerships, each partner has full liability for the company’s debts.
• A corporation is an entity that is separate from its owners, who are known as shareholders and receive dividends.
• Limited liability companies (LLC) offer limited liability to its members; The British equivalent are limited liability partnerships (LLP).
• CEO stands for Chief Executive Officer.
• "Appoint" translates to "zatrudniać," meaning to employ or hire.
• Auditors are controllers who check the financial statements of the company.
• AGM stands for Annual General Meeting.
• Corporate governance is the system of rules, practices, and processes by which a firm is directed and controlled.

Corporate Governance Models

Anglo-American Model

• It features separation of ownership i.e. shareholders and control i.e., managers, and gives priority to the interests of the shareholder.

European/Japanese Model

• It is similar to the Anglo-American model, but gives greater recognition to the interests of other stakeholders such as employees, suppliers, customers, lenders (e.g. banks), and the community.

East Asia/Latin Model

• It includes family-owned companies with no independent Board or outside shareholders.
• "Purchasing" refers to the buyer, and workers are called buyers.
• Management translates to "zarząd", which refers to the board or executive team.
• Finance Department translates to "dział finansowy", referring to the financial division.
• Legal department translates to "dział prawny", referring to the legal devision
• PR stands for public relations.
• Marketing department translates to "dział marketingu", referring to the marketing division
• Sales Department translates to "dział sprzedaży," referring to the sales division.
• IT stands for information technology department.
• Admn./Administration department translates to "dział administracyjny", referring to the administrative division
• Production translates to "dział produkcji", referring to the production division
• Personnel department/Human resources department translates to "dział kadr", referring to the HR division
• The finance department includes financial control, management accounts ("dział kontrollingu"), accounts, and bookkeeping ("księgowość").
• The Marketing Department consists of market research ("dział badania rynku"), advertising ("dział reklamy"), and special promotions ("dział promocji specjalnych").
• The Sales Department includes customer service ("dział obsługi klienta") and sales reps ("reprezentanci handlowi"), after-sales service ("dział obsługi posprzedażnej"), and order processing ("dział realizacji zamówień").
• The Administration Department includes office supplies ("materiały biurowe"), a canteen ("stołówka"), a switchboard ("centrala telefoniczna"), transport fleet ("flota transportowa"), and a first aid room ("apteczka").
• The Production Department includes Purchasing ("dział zakupu"), a Warehouse ("magazyn"), Assembly ("dział montażu"), R&D ("dział badań i rozwoju"), and Despatch ("dział wysyłki").
• Personnel department, Human resources comprises recruitment ("rekrutacja"), payroll and pensions ("wynagrodzenia"), and personnel development/training ("dział szkoleń").
• "Board" refers to all the directors together.
• Non-executive directors are not managers of the company; They are outsiders, often directors of other companies with specialist knowledge of the industry or of particular areas.
• A boardroom is a room where the board of directors meets.
• Head of marketing is the marketing director.
• "Head, head up" refers to leading a team
• Executive is usually a high-level manager, often in senior executive roles

Use of "Executive"

• Can be used in other contexts to suggest luxury, as in executive car and executive home.
• In the US, the top position may be that of chairman, chairwoman, or president.
• This job is often combined with the position of chief executive officer (CEO).
• Some companies have a chief operating officer to take care of the day-to-day running of the company.
• The finance director may be called the chief financial officer (CFO).
• In a US company, the senior managers in charge of particular areas are often called vice presidents (VPs).
• "To produce" translates to "produkować, wytwarzać," meaning to generate or create
• Management structure translates to "struktura zarządzania," referring to the organization and arrangement of management within a company
• Start-up company translates to "firma zaczynająca działalność,", ref.ers to a new company beginning operations
• Sole responsibility translates to "całkowita odpowiedzialność" meaning complete accountability
• "To incur" translates to "ponieść, narażać się na coś", meaning to bring upon oneself i.e., taking on a responsibility
• A retail outlet also known as point of sale (POS) translates to "punkt sprzedaży detalicznej", referring to the place where retail sales are conducted
• "Hybrid" translates to "mieszany," meaning mixed or combined.
• Entrepreneurial sole trader translates to "jednoosobowa działalność gospodarcza," referring to a self-employed individual running a business.
• Flexible translates to "elastyczny," meaning adaptable or variable.
• Responsive translates to "szybko reagujący," meaning quick to react.
• "To be on equal footing" translates to "być w takiej samej sytuacji", meaning to be in the same situation
• Flow of information translates to "przepływ informacji," referring to the movement of knowledge within an organization
• "Nucleus" translates to "jądro," referring to the core or central part.
• Offshoot translates to "odgałęzienie," referring to a branch or derivative.
• Autonomously translates to "niezależnie," meaning independently.
• "To tackle sth" translates to "radzić sobie z czymś," meaning to deal with something.
• "Blend" translates to "mieszanka," meaning a mixture.
• Board of Directors translates to "Zarząd" which means the governing body of a company
• Chairman of the Board translates to "Prezes Zarządzu", referring to the chairman
• Market policy translates to "polityka rynkowa," referring to the strategies and principles guiding a company's actions in the market.
• Executive translates to "wykonawczy," meaning someone who carries out plans or policies
• "To benefit sth" translates to "przynosić korzyść," meaning to bring an advantage.
• Expertise refers to knowledge and experience (wiedza i doświadczenie).
• External source of control refers to an outside regulator.
• Research and Development (R&D) is known as "badania i rozwój".
• Logistics is known as "logistyka".
• Purchasing Department is the "dział zakupów."
• Commodity is "towar".
• Vendor is "sprzedawca".
• Warehouse translates to "magazyn.
• Human resources (HR) are "zasoby ludzkie (kadry)".
• Benefit plans are a "pakiet świadczeń socjalnych".
• "To implement" translates to "wdrażać".
• To meet the objectives is to "achieve the goals (osiągnąć cele.)"
• A flat structure is a company with an entrepreneurial sole trader.
• An outside intervention is an action taken by entities from outside a particular country or region to influence the internal situation of that area.
• Disruption is an unexpected change of costs, schedules, deadlines etc like an interruption
• Performance is accomplishment of a given task or successful execution of a contract.
• Senior management means high-ranking executives. In research there is a query to increase the knowledge of the market.
• to incur is to make oneself subject to something

Types of company structure

• Hierarchical, flat, hybrid, and holacracy.
• Rapid iteration involves short development cycles, often called sprints. Changes are designed, built, and tested
• Black swan is a huge disruption.
• "Retains" mean keep.
• "Aforementioned" means wyżej wspomnienie.
• Job standardization is uniformity in the tasks of similar job positions in different departments of an organization.
• Supervisor means brygadzista or nadzorca.
• Junior management is the lower level of executive staff.

Key Shifts with Holacracy

• Static Job Descriptions shift to Dynamic Roles.
• Delegated Authority shifts to Distributed Authority.
• Large Scale re-orgs shift to Rapid Iteration.
• Alignment via Politics shifts to Transparent Rules.
• Dynamic roles are a departure from traditional job descriptions, which are rarely looked at once written.
• Roles focus on how individuals steward multiple roles and how those roles evolve in a more felxible and purpose - driven manner.
• Authority is distributed when more than one or just a few people can make decisions.

Industries and Tourism - Hotels and Travels

• These areas are manufacturing and services

Manufacturing Sector

• Aerospace includes planes and space vehicles.
• Cars (BrE) are automobiles.
• Computer hardware includes computers, printers, etc.
• Construction includes buildings
• Defence (BrE)/ Defense includes weapons.
• Electronics include mobile phones, etc.
• Food processing includes canned, frozen foods, etc.
• Household goods include washing machines, refrigerators, etc.
• Pharmaceuticals include medicines.
• Steel is a strong metal used in the manufacturing of machinery and cars.
• Textiles include cloth and clothes.

Service Sector

• Call centers (BrE/AmE) deal with orders and complaints from customers via phone.
• Catering includes restaurants and bars.
• Computer software is instructions for computers.
• Financial services include banking and insurance.
• Healthcare is medical care.
• Leisure is cinemas, sport, etc.
• Media includes books, newspapers, and film.
• Property (BrE)/Real estate (AmE) involves buying, selling, and managing buildings.
• Retail includes shops.
• Telecommunications is phone, internet services.
• Tourism is travel and holidays.

Industry

• It is the production of materials and goods.
• Industrial is an adjective.
• To industrialize is to build and operate factories and businesses in a city, region, or country.
• Emerging industries are a group of companies in a line of business formed around a new product or idea that is early stages of development.
• Growth industries are a sector of an economy which experiences a higher-than-average growth rate as compared to other sectors.
• Light industries are industries that make small things and do not need to use large, heavy machinery.
• Heavy industries are industries that use large machines to produce either materials, such as steel, or large goods, such as ships or trains.

Business Model (Types)

• B2B (business to business) means companies sell to companies.
• B2C (business to consumer) means companies sell to individuals.
• C2C (consumer to consumer) means individuals share to other individuals.
• B2B2C (business to business to consumer) means third-party vendors or consultants sell a company's products to consumers.
• B2G (business to government) means companies selling to the government.
• Shop around means to compare prices before buying.
• include means to count something with other things.
• quote means to decide how much has to be paid for a product or service
• bargain means to discuss the price for something
• price means to estimate or calculate the probable cost of something
• pay down means to make a deposit
• refund means to pay back money
• discount means to reduce prices to increase sales
• slash means to reduce sharply
• deduct means to remove money from a total
• invoice means to send a note asking for payment
• accept means to take something which is being offered
• cheap is opposite of epxensive
• early is opposite of late
• embark is opposite of disembark
• guest is opposite of host
• increase is opposite of decrease
• Overcharge is the opposite of undercharge, meaning to charge someone too much
• Add means the opposite of subtract
• Single means the opposite of double
• Send means the opposite of receive
• Profit means the opposite of loss
• Advance means the opposite of postpone ("przekładać")
• Arrival means the opposite of departure ("odjazd, odlot")
• Cancel means the opposite of confirm
• Incoming means the opposite of outgoing
• Land means the opposite of take off
• Place orders means to składać zamówienia
• Discretionary income is money that you can spend on what you want.
• A drop in demand is a spadek popytu
• "It appeals to me" translates to "to do mnie przemawia", referring to a feeling of appreciation
• Follow-up letters is a form of correspondence
• Structured behavioral interviews is a hiring technique.
• Average means przeciętny.
• Backup means follow-up.
• Complimentary means free.
• Discretionary means premia, or bonus.
• Domestic means krajowy, wewnętrzny, referring to what is internal/national
• Down-market means masowy, or popular.
• Elastic refers to being adaptive

Human Resources

• Promotional: Relating to promotion
• Regular: Usual or ordinary
• Seasonal: Relating to a particular season
• Slack (season): Slow, loose, or dull
• Socio-economic: Relating to the interaction of social and economic factors
• Toll-free: Free of charge
• Upmarket: exclusive
• Run-of-the-mill (adj): Average
• Overqualified (adj): Having more qualifications and a better education than is required for the job Employee specification (n): A detailed description of the skills and education necessary for the job
• Skill set (n): Specified skills
• Applicable (adj): Relevant
• Downgrade (v): To lower the salary or position
• Invoice (n): A bill for goods or services provided
• Corporate (adj): Relating to a corporation or company
• Stop-gap (n): A temporary position
• Career path (n): Stages in an employee's career Cog in the machine (idm): An insignificant part of a large organization
• From scratch (col): From nothing
• Perk (n): Payment or benefit received in addition to regular salary
• Pension scheme (n): A retirement plan
• Career progress (n): Development of one's career – Primary motivation (n): What motivates one most – Clash (n): Conflict Recruitment, hiring: The process of finding people for particular job

Recruiting

Recruit, hire: Someone who has been recruited.

Employs, hires: They join the company. Recruiters Employment agencies Recruitment agencies Headhunters: Outside specialist used to find people for very important jobs and persuade them to leave the organizations they already work for

Hunting

• Headhunted: People recruited by headhunters.
• Headhunting: Process of finding people by headhunters.
• Situations vacant: A newspaper page or section containing advertisements for job vacancies.
• Applied for (the job)
• Application form: A formal written request for something such as job or membership of an organization. – Jobs website: A website that firms use to inform job searchers about open positions.
• Made an application: An application for something such as job or membership of an organization.

Forms

• CV (curriculum vitae): the story of someone’s life.
• Covering letter: A letter that contains information about the things it is sent with. –Selection process: The procedure of identifying qualified people with the requisite qualifications and skill set to fill vacancies in a company.
  • Backgrounds of applicants: Their experience of different jobs and their educational qualification. – Candidates
• Group discussion: An exchange of views between a group of participants on a given subject. – Interview: A meeting in which someone asks you questions to see if you are suitable for a job or course Psychometric test: They assess intelligence and personality of candidate Shortlist: A list of selected candidates from which a final choice is made References: A recommendation from referee - previous employer, teacher, and so on Offer the job Turn it down: Reject Accept it Job offers Appoint: to hire Graduates: People who have just left the university

Qualifications

• Paper qualifications: A certificate confirming someone’s achievement in a course of study or training in contrast to practical experience Qualification in Work experience Train…for Graduated from With a degree in Training in a subject Train as Qualify as In-house training: courses within the company Management development: Managers regularly go on specialized courses in leadership Acquire experience: Get knowledge through doing things

Skills and Recruitment

• A skill is a particular ability to do something well, especially because it has been learned and practiced.
• Jobs, and people who do them, can be described as highly skilled, skilled, semi-skilled, and unskilled.
• Skilled at customer care electronics, communicating using Excel.
• Good with computers, figures, people.
• Methodical, systematic and organized: Working in a planned, orderly way computer-literate: Good with computers Numerate: Good with numbers motivated: Very keen to do well in their job because they find it interesting Talented: Very good at what they do

Employees

• Self-starters: They must be proactive, self-motivated or self-driven - good at working on their own, and team players: People who work well with other people.
• To spot and recruit the raw talent is to find and employ untrained people
• This requires identifying candidates( possible recruits) who match the needs of the business system, and selecting those who are most likely to fit with the firm's culture which is the way it does things
• Induction: The recruits then need to be educated on the key success factors of the business system and their role within it.
• After the induction to the firm and its culture is training and development, these aspects they ensure that the employee has the capabilities (skills)- skill-necessary to get the job done

Managing Talent

• Performance assessment includes evaluation is a seemingly simple concept, but it is difficult to carry out without tremendous effort and expense. Managers need a high degree of training in order to evaluate employees in the same way – Performance improvement interventions: Purpose of these is to provide experiences to help the person increase their capabilities such intervention include job rotation and executive education,
• Management training – 360-degree analysis where managers assess employees and this assessment. – Culture or Fit interventions are aimed at those who cannot or will not adapt to the company's culture. The management. People are given early and forceful feedback is provided – Succession planning: The chief human resources officer (CHRO) needs to plan the future staffing needs of the organization in relation to its objectives specifically. – The CHRO must identify and provide the managers who will take over and continue to put into practice.
• Compensation for contribution Each employee has a 'deal' with the company: the performance of tasks in exchange for rewards salary and increased responsibilities, etc.: The CHRO oversees this

Staff Expectation

• Firms expect a lot from their employees, in terms of performance.
• commitment: belief in and support for the firm, and mobility moving to different jobs in the Company. To be after sb : to search for someone suitable for work (poszukiwać kogoś (do pracy)) To start off start something (zaczynać) Accountancy background relevant job experience -accountancy field accountancy (doświadczenie związane z księgowością) to run smoothly run or work properly (prowadzić sprawnie) Filling work : doing work of lower importance praca (papierkowa) all-important: something which is essential or key (najważniejszy, podstawowy)

Employment Terms

• To fill the post is to employ someone and zająć stanowisko
• Notice period is okres wypowiedzenia, meaning giving notice
• To train is to develop skills - Szkolić Kogoś
• To develop promotional materials: To build or create promotional supplies: Przygotować materiał promocyjny. Relevant computer skills: Basic proficiency. znajomość komputera.
• Representative selection: Adequate choice or choice: odpowiedni wybór
• budgetary capabilities - financial possibilities To liaise with sb - cooperate, deal with someone suitably qualified: - someone with the qualifications and experience to fulfil the responsibilities of specific roles competently be hard-working - pracowity

Personal Fincance

• The following refers to trading and personal finance
• A local branch - A nearby bank • current account: Basic form of account • joint account: Account shared by individuals such as a couple
• To be in the black: to have a balance of money in the bank to go into red: To not have monies in bank
• There is a overdraft debit on top of the amount debet overdraft facility an agreement with the bank to be in this situation as long as the overdrafts stays within a certain amount agreement to have monies or overdraft charges fees
• go overdrawn has not sufficient balance and fees apply for overdraft interest odsetki interest rate

Accounts

• deposit account
• savings account
• credit card
• credit card companies
• pay off mortgage credit crunch not willing to sell money
• negative equity - when house prices fell and left some buyers owning more on their mortgage than their house was worth account balances
• apply for a personal loan
• grace period - period of time in which if you pay off the debt from your credit card, you don’t pay the interest