Week 5

Niche
noun  ( POSITION ) niːʃ//nɪtʃ

Definition : A focused, targetable part of a market.

Toyota company

Example of a corporation's niche market

Toyota is a huge multinational company. At first glance, it appears that Toyota focuses on the auto business as a whole both from a marketing and production standpoint. This view is correct. Notwithstanding this fact, Toyota is excellent when it comes to niche marketing.
Toyota will search for niches for which it can supply a product in need. Toyota was one of the first companies to realize there was a group of car buyers who would be very interested in environmentally friendly cars. To answer this need, it came up with the legendary Prius. The Prius is the first mass production hybrid car. Where other car manufacturers saw Toyota taking a huge risk, Toyota saw it as an opportunity to identify a new niche and establish its brand in that niche. In marketing, it is often the first brand on the scene that takes the day.
http://www.marketingtitan.com/what_is_niche_marketing



Trademark

Definition : A distinctive name, symbol, motto, or design that legally identifies a company or its products and services, and sometimes prevents others from using identical or similar marks.

Trade mark of Toyota company

What do you think the trademark tells you about the characteristics of the corporation?

Answer: Trademark can tell me what is the characteristics of their company by trademark will tell me what is the symbol of this product.For example TOYOTA, the trademark of Toyota have the name and logo that I can know that It is Toyota.  There are three ovals, it make me think about the good relationship between Toyota and customer.

Sentence of trademark
I start doing business about bag and I have to design my trademark for my product.



Royalty fee

Royalty ˈrɔɪ.əl.ti//-t ̬i
Definition : the people who belong to the family of a king and queen

Royalty fee
Definition : A payment made for the use of property, especially a patent, copyrighted work, franchise, or natural resource. The amount is usually a percentage of revenues obtained through its use.

loyalty  ˈlɔɪ.əl.ti//-t ̬i/
mean : faithfulness, dependability

Sentence of royalty fee
I have to pay royalty fee when I buy the franchise of 7-11 shop.

http://www.investorwords.com/4330/royalty.html
http://consulting.about.com/od/glossaryfaq/g/CF_RoyaltyFee07.htm
http://thesaurus.com/browse/loyalty



Synergy /ˈsɪn.ə.dʒi//-ɚ-/

Definition : Arrangements which are mutually beneficial to the parties involved.

Synonyms:

alliance, coaction, combined effort, harmony, symbiosis, synergism, team effort, teaming, teamwork, union, unity, working together

Sentence of synergy

A company and B copany are synergy.

http://thesaurus.com/browse/Synergy

http://www.investorwords.com/4853/synergy.html

Franchising

Definition : Arrangement where one party (the franchiser) grants another party (the franchisee) the right to use its trademark or trade-name as well as certain business systems and processes, to produce and market a good or service according to certain specifications. The franchisee usually pays a one-time franchise fee plus a percentage of sales revenue as royalty, and gains (1) immediate name recognition, (2) tried and tested products, (3) standard building design and décor, (4) detailed techniques in running and promoting the business, (5) training of employees, and (6) ongoing help in promoting and upgrading of the products. The franchiser gains rapid expansion of business and earnings at minimum capital outlay.

Verb of franchising is Franchise

Franchise mean grant a franchise to(sb).

franchiser

Definition :An entity such as a company or producer that allows its products or services to be franchised. This entity essentially grants permission to other firms to provide the products or services to its customer under the same name and pre-determined pricing. The franchiser still maintains a number of controlling factors related to the franchise.

franchisee

Definition : One who purchases a franchise. The franchisee then runs that location of the purchased business. He or she is responsible for certain decisions, but many other decisions (such as the look, name, and products) are already determined by the franchisor and must be kept the same by the franchisee. The franchisee will pay the franchisor under the terms of the agreement, usually either a flat fee or a percentage of the revenues or profits, from the sales transacted at that location.

Sentence of franchising

Mc Donald have many franchising. 

http://www.businessdictionary.com/definition/franchisee.html
http://thesaurus.com/browse/franchise

Week 4

Consumer mean

An individual who buys products or services for personal use and not for manufacture or resale. A consumer is someone who can make the decision whether or not to purchase an item at the store, and someone who can be influenced by marketing and advertisements. Any time someone goes to a store and purchases a toy, shirt, beverage, or anything else, they are making that decision as a consumer.

http://www.investorwords.com/1055/consumer.html

Consumerism mean

1. Organized-efforts by individuals, groups, and governments to help protect consumers from policies and practices that infringe consumer rights to fair business practices.

2. Doctrine that ever-increasing consumption of goods and services forms the basis of a sound economy.

3. Continual expansion of one's wants and needs for goods and services.

http://www.businessdictionary.com/definition/consumerism.html


Conservation mean

Exploitation, improvement, and protection of human and natural resources in a wise manner, ensuring derivation of their highest economic and social benefits on a continuing or long-term basis. Conservation is achieved through alternative technologies, recycling, and reduction in waste and spoilage, and (unlike preservation) implies consumption of the conserved resources.

http://www.businessdictionary.com/definition/conservation.html

The verb of conservation is conserve

conserve mean save, protect

Synonyms:

avert, battle, beat off, bulwark, care for, cherish, conserve, contend, cover, entrench, espouse, fend off, fight, fight for, fortify, foster, garrison, guard, guard against, hedge, hold, hold at bay, house, insure, keep safe, look after, maintain, mine, nourish, oppose, panoply, preserve, prevent, provide sanctuary, repel danger, resist, retain, safeguard, save, screen, secure, shelter, shield, stave off, sustain, take in, uphold, war, ward off, watch, watch over, withstand

Antonyms:

abandon, attack, desert, leave, quit, relinquish, resign, surrender

http://thesaurus.com/browse/conserve

Recycling mean

 Waste minimization strategy in which reusable materials are recovered from a waste stream, and put to the original or different use.

http://www.businessdictionary.com/definition/recycling.html

“re" mean again , retune

- rewrite mean to write something such as a book or speech again, in order to improve it or change it because new information is available

- renew mean to increase the life of or replace something old

- review mean to consider something in order to make changes to it, give an opinion on it or study it

Ethic/Ethics mean

a system of accepted beliefs which control behaviour, especially such a system based on morals

http://dictionary.cambridge.org/dictionary/british/ethic?q=ethic

Business ethics mean

a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.

http://en.wikipedia.org/wiki/Business_ethics

Anecdote about business ethics
This case is about the Gulf of Mexico oil spill and the continuing safety problems at BP, one of the largest oil and gas producers in the world.

The case highlights the ethical issues involved in the disaster and examines BP's response to it. Though the company accepted responsibility for the explosion and was making efforts to manage the oil spill, it remained largely unsuccessful in plugging the leak. As efforts to contain the spill continued, critics alleged that BP had put profits before safety and developed an "unhealthy corporate culture" where cost-cutting was given more priority than the safety of the workers.

http://www.icmrindia.org/casestudies/catalogue/Business%20Ethics/BECG116.htm

Personal ethic mean Personal ethic is individual ethical to people have values or moral principles.
My personal ethic are Honesty, Loyalty, Integrity.

Week 3

Article
Clauses or provisions in a document that are usually numbered in a sequence. 

Information from : http://www.businessdictionary.com/definition/articles.html

Articles of incorporation

A document, filed with a U.S. state by a corporation's founders, describing the purpose, place of business, and other details of a corporation. also called charter.

Informatiom from : http://www.investorwords.com/258/Articles_of_Incorporation.html
Picture from : http://www.cetfund.org/governance/articles-incorporation




Charter

Part of Speech:	noun
Definition:	treaty, agreement
Synonyms:	allotment, bond, code, concession, constitution, contract, conveyance, deed, document, endowment, franchise, grant, indenture, license, pact, patent, permit, prerogative, privilege, right, settlement

Information from : http://thesaurus.com/browse/charter

Corporate charter

A document, filed with a U.S. state by a corporation's founders, describing the purpose, place of business, and other details of a corporation. also called articles of incorporation or charter.

Informatiom from : http://www.investorwords.com/1133/corporate_charter.html

Venture

Part of Speech: noun Definition: gamble, attempt Part of Speech: verb Definition: take a chance Information from : http://thesaurus.com/browse/venture Joint venture A contractual agreement joining together two or more parties for the purpose of executing a particular business undertaking. All parties agree to share in the profits and losses of the enterprise. Information from : http://www.investorwords.com/2671/joint_venture.html C corporation A business which is a completely separate entity from its owners, unlike a partnership. S corporation A form of corporation, allowed by the IRS for most companies with 75 or fewer shareholders, which enables the company to enjoy the benefits of incorporation but be taxed as if it were a partnership. also called Subchapter S Corporation. Can you use one sentence to describe the difference between C corporation and S corporation? The C corporation is the standard corporation, while the S corporation has elected a special tax status with the IRS. Make a sentence of each key term Articles of incorporation : My company make the articles of incorporation with Nessy company corporate charter :  My company have the corporate charter joint venture : Haz company and Sas company are joint venture. C corporation :  C corporation is owned by shareholders. S corporation : The S corporation can have only one class of stock.

W1: 1. Incubator /ˈɪŋ.kjʊ.beɪ.tər/(n):

• a container that has controlled air and temperature conditions in which a weak or premature baby (= one which was born too early) can be kept alive

• a device for keeping birds' eggs at the correct temperature to allow young birds to develop until they break out of the shell

Synonyms:

breeding place, incubator

(http://dictionary.cambridge.org/dictionary/british/incubator?q=Incubator)

2. Discontinuance
Part of Speech:	noun
Definition:	stop, suspension of activity
Synonyms:	adjournment, alternation, cease, cessation, close, closing, desistance, desuetude, discontinuation, disjunction, disruption, ending, finish, intermission, interruption, separation, stopping,
Antonyms:	continuation, restarting, retry

(http://thesaurus.com/browse/Discontinuance)

3. Entrepreneur
Part of Speech:	noun
Definition:	person who starts a business alone
Synonyms:	administrator, backer, businessperson, contractor, executive, founder, impressario, industrialist, manager, organizer, producer, promoter, undertaker

(http://thesaurus.com/browse/Entrepreneur)

He is Thai entrepreneur, his business about food and beverage(Oishi Group Company).

4. small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales.

(http://en.wikipedia.org/wiki/Small_business)

5. Failure

Part of Speech:	noun
Definition:	lack of success
Synonyms:	abortion, bankruptcy, bomb, botch, breakdown, bungle, bust, checkmate, collapse, decay, decline, defeat, deficiency, deficit, deterioration, downfall, failing, false step, faux pas, fiasco, flash in the pan, flop, frustration, implosion, inadequacy, lead balloon, lemon, loser, loss, mess, misadventure, miscarriage, misstep, nonperformance, nonsuccess, overthrow, rout, rupture, sinking ship, stalemate, stoppage, total loss, turkey, washout, wreck
Antonyms:	accomplishment, achievement, attainment, earnings, gain, merit, success, win

(http://dictionary.cambridge.org/dictionary/british/failure_1?q=Failure)



6. Formal failures are failures ending up in court with loss to creditors.

    Personal (informal) failure, the owner who cannot succeed voluntanly terminates the business.

W2

1 Estate/ ɪˈsteɪt/noun
The meaning : a large area of land in the country which is owned by a family or an organization and is often used for growing crops or raising animals

Examples of ESTATE

1. His estate is worth millions of dollars.
2. He inherited the estate from his parents.
3. the grounds of the estate

(http://www.merriam-webster.com/dictionary/estate)

(http://dictionary.cambridge.org/dictionary/british/estate_1?q=estate)

2. Estate planning

estate planning is The preparation of a plan of administration and disposition of one's property before or after death, including will, trusts, gifts, power of attorney, etc.

(http://www.investorwords.com/1752/estate_planning.html)

3. Family limited partnership

 “Family Limited Partnership” refers to is a limited partnership formed to hold the family business or investments, with the idea that the parents will make gifts of their limited partnership interests to their children. Because the limited partnership interests are illiquid, so the theory goes, they should be subject to substantial discounts for federal gift and estate tax planning purposes.

(http://www.assetprotectionbook.com/family_limited_partnerships.htm)

4. Buy-sell agreement
buy-sell agreement is an agreement used by businesses to sell the interests of a deceased owner to the remaining partners at a predetermined price or using a predetermined formula.

(http://www.investorwords.com/655/buy_sell_agreement.html)

5. Living trust

Living trust is a trust that becomes effective during the lifetime of the settlor —called also inter vivos trust

Living trust and will

	Will	Living Trust
Probate	Subject to probate proceedings. Out -of-state property requires probate proceedings in that state, as well. Provides court supervision for handling beneficiary challenges and creditor disputes. Becomes public record at the time of your death.	Not subject to probate proceedings. Avoids the cost of a second-state probate proceeding where there is out-of-state property. No automatic court supervision to deal with disputes. Remains private.
Tax Savings	Same tax saving provisions available as are available in a Trust.
Management of your Assets	In addition to the Will, must use a Power of Attorney or Conservatorship to manage assets.	Allows you as the grantor to manage the Trust assets as long as you are willing and able. Makes provisions for a successor trustee to take over in your place.
Costs	Costs less to prepare a Will than a Trust. Cost to probate a Will can be substantial.	Costs more to prepare, fund and manage a Trust than to prepare a Will. But avoids probate costs if all assets were held by the Trust

(http://www.lectlaw.com/filesh/qfl05.htm)