What’s the difference between a wholesaler and a retailer? What’s bartering and what does it mean to ‘outsource’ something. You’ll learn about International business in this episode of Aprender Inglés con Reza y Craig.
Voice message from Fernanda from Uruguay
Congratulations on passing the CAE exam.
Voice message from Joao from Brazil
We spoke about the economy and how to discuss trends in English: http://www.inglespodcast.com/117
Domestic business vs international business
Economics (with “s”) – the study of the Economy
economic outlook – how the economy is expected to perform over a period of time in the future.
Economic – economical – economy – economically – to economize –
NB. economic (adj.) – related to economics V economical (adj.) – good value
consumer spending – the purchase of goods and services by consumers.
Manufacturers – companies that make goods for sale and sells to a distributor, wholesaler or retailer
Distribution – sending a supply of goods to companies that sell them to consumers.
To distribute – to give out (channels of dist ribution)
Wholesaler – a person or company that sells goods in large quantities at low prices, typically to retailers.
Retailers – companies that sell goods in small quantities directly to consumers
A startup – a new business venture that’s expected to grow very quickly. Often funded by venture capital.
Outsourcing – obtain (goods or a service) by contract from an outside supplier (eg. customer support, food and services in a hospital, audio editing/transcription of a podcast)
Multinational Corporation – A company that operates in two or more countries. (Coca Cola, Microsoft, Toyota)
Subsidiary (company) – a company owned or controlled by a Parent Company (the Disney Channel, which is wholly owned by The Disney Corporation ( Procter and Gamble: Crest, oral-B, Tide, Pampers, Always, Head & Shoulders, VIcks, Olay, Gillette etc..)
Cultural Literacy – Understanding and appreciating the similarities and differences of the world’s peoples. Interacting.
Intellectual Property – Owned ideas.
Subsidy, to subsidise – Government contribution that helps private industries.
Embargo, to put/place an embargo on – Formal trading strike.
Bartering – Trading one thing for another.
Trade Surplus – What a country has when it takes in more money selling products and services to other countries than they spend on buying them.
Trade Deficit – What a country has when it spends more on imports than exports.
Tax Evasion – using illegal means so as not to pay tax.
Tax Avoidance – using legal means to avoid paying tax. e.g. Creative Accounting
Make vs. Brand Name – A name, symbol, word, or design that identifies a product, service, or company.
Trademark – words, phrases, or symbols which represent a comp any or product. They distinguish the products or services of one company or organization from those its competitors. The following can all be trademarked:
Abbreviations: FTSE 100 “footsie 100” (index), BBC, IBM, BMW
Brand names: Apple, McDonald’s, and Dolce & Gabbana
Product names: iPhone and Big Mac
Company logos like the golden arches at McDonald’s and Nike’s tick, Mercedes etc.
Slogans: “Just Do It” and “I’m lovin’ it”
Words in a stylized font: “Coca-Cola” and “Ebay”
Colours: blue for Ford, Tiffany blue for Tiffany & Co. Post-it notes Canary yellow.
Product shapes like the Coca-Cola bottle and Apple iPod
Sounds: MGM Lion, Harley-Davidson engine.
Fictitious characters: the talking gecko at Geico and the Pink Panther
…and now it’s your turn to practise your English.
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Interview with Ryan Sink from businessenglishqanda.com
Interview with Paul Urwin from 100%businessenglish.com
Interview with Kieran
Speak English with Christina (on YouTube):
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“Cool Blast” Kevin MacLeod (incompetech.com)
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