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Level 13

Unit 13

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quality control
process of looking at goods when they are being produced to make certain that all the goods are of the intended standard
when there is not enough of something
backup plan
scheme ready to be used in place of or to help another
important skill that is needed to do a job
fall short
fail to reach a target
go bust
if a company goes bust, it is forced to close because it is financially unsuccessful
(the ability to have) a clear, deep and sometimes sudden understanding of a complicated problem or situation
amount of confidence felt by a person or group of people, especially when in a dangerous or difficult situation
pay off
if an investment or risk pays off, it is successful
when an organisation spends less or reduces costs to avoid losing money
description of possible actions or events in the future
stock price
valuation of a company’s shares
way to reduce the number of employees
in sync
at the same time or the same speed
when someone stops employing someone, sometimes temporarily, because there is no money to pay them or because there is no work for them
an amount which is less than the level that was expected or needed
amount of business that a company does in a period of time measured in terms of the amount of money obtained from customers
balance sheet
statement that shows the value of a company’s assets and its debts
current assets
something owned by a business that it does not expect to keep for more than 12 months
someone who owes money
loss of value of an asset such as machinery over time
(a part of) the profit of a company that is paid to the people who own shares in it
emerging market
area or country where there is growing demand for goods
fixed assets
building, equipment or land owned by a company
value of the popularity, the regular customers, etc. of a business calculated as part of its worth when being sold
very important and having a lot of influence on other people or things
operating profit
measure of profit that a business earns on its normal operations
an amount of money that a customer with a bank account is temporarily allowed to owe to the bank, or the agreement which allows this
land and buildings owned by someone, especially by a company or organisation
pre-tax profit
money which is earned in trade or business before taxes have been paid
profit and loss account
financial statement that summarises the expenses, losses and overheads of a company, used to calculate the net profit
retained earnings
earnings which are kept by the company to invest in future projects, market research, etc.
total amount of goods available
bang heads together
when two or more people get together to work out complicated issues, usually involving some argument, before reaching a solution
bring together different pieces of written information
count on
be confident that you can depend on (something/someone)
go on a hunch
act on an idea which is based on feeling and for which there is no proof
have a bearing on
have an influence on something or a relationship to something
see go on a hunch
producing a lot of money, profitable
desired by most people
nose-dive, take a
fall or drop suddenly and by a great deal
pull figures out of the air
choose numbers in a random way, rather than one based on evidence or logic
fail to guess or understand the real cost, size, difficulty, etc. of something and think it is less
computer program, used especially in business, which allows you to do financial calculations and plans