English material for business

This is some materials if you be a teacher in business class :

1. WHAT IS BUSINESS

A business  is an organization. It producers goods and services  to make a  profit. Business may be divided into goods producing and services producing firms.

The American business systems is known as private  enterprise  because  the factors  of production and the business are owned but individuals. The systems is based on the right to protivated  properties.

There are  four factors  of production which  include machinery,  building, tools. And means of transportation. To producers goods   and services in the private enterprise system, the four factor of production are obtained from the individuals  owning the  businesses  in exchange for income 

The human  element is the core of business. Business needs people as owners, manager’s and costumers.  People  need  business for the producing  of goods and services  and creation of job opportunities.

The person  responsible for operating the business is called a manager. The manager may be the owner  or a professional employed by the  owner. A professional  manager attempts to achieve the objectives of the business.

Employees supply the skills and  ability  to provide  a product or service. They expect to receive  a wage or salary  for the use of their skills and abilities.

Vocabulary Building

1        Noun  From the passage

Goods          :  Articles  for sale = barang yang dijual-belikan

Profit            :  excess  of the selling price of goods over cost = laba 

Service         :  A useful  job  that  does not produce   goods = jasa

Private          :  belonging to a particular individual or group = swasta

Enterprise     :  Business organisation = perusahaan

Individual    :  Person = orang, perseorangan

Right            :  something  to which one has a just claim = hak

Property       :  Something owned = milik

Core             :  in most part =  inti

Element        :  unsur

Employee     :  a person who is employed = pekerja 

Consumer     :  a person or groups who buys and uses goods services

Job                :  Something that has to be done = tugas, pekerjaan

Objective      :  aim or goal = sasaran

Skills            :  developed  ability = kecakapan 

Wage            :  payment  for labour =  upah 

Salary           :  Regular payment for service = gaji 

Target           :  goal  to be achieved  = sasaran 

Motive          :  cause  of  a person’s  action = dorongan

Role              :  function = kegunaan, peranan 

Reward        :  something  offered for achievement = imbalan atas suatu prestasi

Risk              :  the chance  of loss = risiko 

Measurement   :     something to prove  = tolok ukur

2        Verbs  from the passage

Divide          :  separating into two or more parts = membagi  menjdidua bagian atau lebih

Own             :  Have  as property = memiliki

Be based on    :     to use as a basis = berdasrkan atas

Produce        :  to make or manufacture = membuat, memproduksi

Obtain          :  to get a possession = memperoleh

Need            :  Be in want = membutuhkan, memerlukan

Expect          :  look  forward for = mengharapkan

Earn              :  receives  as a return for a service = menerima sesuatu sebagai imbalanjasa

Be responsible for :   able to  take a rational decision without  supervision = bertanggungjawab

Employ         :  to put into action = memperkerjakan

Provides       :  supply what is needed  = menyediakan 

Purchase       :  obtain  in exchange for money = membeli

2. ECONOMIC

THE FOUNDATION OF BUSSINESS

Economics : The Foundation of Business

Economies is the study of how society chooses  to use scarce resources to produces goods and services and to distribute  them to people  for consumption. a nation’s resources consist of natural, capacity, and labour resources.

Natural resources  are provided by  nature in limited amounts ; they include crude oil, natural gas, mineral, timber and water. Natural resources must be processed to become a product  or to  be used to producer  other  goods  and services. For example, tress must be processed  into lumber before they can be used to build  homes, shipping, malls and hospitals.

Capital resources  are good produces  for the puproses of making other  types  of goods and services.  Some   capital resources are called current assets. Theyt have a short life and are used   up in the production process. These resources include fuel, raw materials, paper, and money. Long-lived capital  resources, which can be used repeatedly in the production process, are called  fixed  capital. Examples include factory building, machines  and means of transportation.   

Labour  resources  represent the human talent. To have value in the labour force,  individuals must be trained to perform either skilled or semiskilled work. For example, the job of a manager requires  extensive  training, whereas  only minimal training is needed to operate  a service station’s gas pump.

Vocabulary

Study                                :     Kajian

Society                              :     Masyarakat 

Resources                          :     Sumber Daya

Natural Resources             :     Sumber Daya Alam

Labour                               :     Pekerja

Amount                             :     Jumlah

Capital                               :     Modal

Crude Oil                          :     Minyak Mentah

Natural Gas                       :     Hasil tambang

Timber                               :     Kayu gelondong

Lumber                              :     Kayu olahan

Product                             :     Produk

Shopping Mall                   :     Pusat Perbelanjaan

Purpose                             :     Tujuan

Fuel                                   :     Bahan Bakar

Raw Material                    :     Bahan  Mentah

Means of Transportation   :     Sarana angkutan/transportsi

Talent                                :     Bakat

Labour Force                     :     Angkatan Kerja

Distribute                          :     Membangikan

Consist of                          :     Menyediakan

Provide                              :     Menyediakan 

Include                              :     Mencakup, meliputi 

Represent                          :     Mencerminkan, menggambarkan

Train                                  :     Melatih

Require                              :     Memerlukan 

Operate                             :     Mengoperasikan

Satisfy                               :     Memenuhi kebutuhan (orang).

3. Types of Business   Organization

Types  of Business Organization

When you start a business, you have many decisions to make. The fist is the form of organization best suited to the needs  of your business.

Most business star at as sole proprietorships. Many of them become partnerships or corporations as the expand.  You  are  probably familiar with sole proprietorships, businesses that ae  established, owned, operated, and often financed by a single person.

Sole proprietorships have several advantages that make them popular. They are   ease and low cost of setting up, all profit go to the owner, control of the business   can be performed  directly, and  free  from government  regulation

Another major form of business organization is the partnership. It is an association of two or more person to carry on as co-owners  of  a business for profit.

Some advantages of partnership come quickly to mind. When you have a partner, you are not tied to the business as you would be in a sole proprietorship.

Someone  else helps manage and operate them firm and bring extra skills. Setting up a partnership take a more formal agreement  than starting  a sole proprietorship, but partnership  are still quite easy to from.

Ease of information, availability of capital, diversity of skills and expertise, flexibility and relative  freedom from government  control are the advantages  of all types  of partnership.

Corporations are not the most popular form of business organization in terms of number of firms. But they account for the largest share of both  sales and income. A corporations is a legal entity with an existence and life  separate  from its owners. A corporations can own property, enter into contracts, sue and be sued, and engage in business operation under the  terms of its character.

Unlike sole proprietorships  and partnership, corporations are taxable entities.

There are four types   of corporate ownership. The common stock of a privately owned  firm is not available  to the general public. A closely owned firm belongs to a small group of investors.

The common stock of  a publicly owned firm belongs to a broad group of unrelated individuals and institutional investors.

Several  specialized types of business organization play a role  in our economy  are co-operative, joint ventures, and limited liability companies.

Vocabulary 

Start (V)                            :     Memulai, mengawali

Decision (n)                       :     Keputusan

Form (n)                            :     Bentuk

Suit (v)                              :     Sesuai, cocok 

Expand (v)                        :     Berkembang

Familiar (adj)                     :     Akrab

Establish (v)                      :     Mendirikan

To be established              :     didirikan

Own (v)                             :     memiliki, to be owned =  dimiliki

Operate (v)                        :     Mengoperasikan, to be operated = dioperasikan

Finance (v)                        :     Membiayai, to be financed = dibiayai

Person (n)                          :     Orang

Advantages (n)                 :     Manfaat

Ease (n)                             :     Mudah 

Low cost                           :     Murah

Setting up                          :     Permodalan

Profit (n)                           :     Laba, keuntungan

Go to the owner                :     Menjadi  kepunyaan pemilik

Owner (n)                          :     Pemilik

Control (n)                        :     Pengendalian, pengawasan

Perform (v)                        :     Melakukan

Government  (n)                :     Pemerintah

Regulation (n)                   :     Peraturan major (adj) = umum,utama

Association (n)                  :     Persekutuan

Carry on (v)                       :     Mengelola

Come quickly  to mind     :     mudah untuk dipikirkan 

Partner (n)                         :     Rekan persero

To be tied (v, passive)       :     Terikat

Manage (v)                        :     Mengelola 

Bring extra skill                 :     Menyumbangkankeahlian 

Formal agreement             :     Perjanjian resmi

Availability (n)                  :     Ketersediaan

Capital (n)                         :     Modal

Diversity (n)                      :     Keanekaragaman

Flexibility (n)                    :     keluwesan

In terms of number           :     Berkenaan dengan jumlah

In terms of                        :     concerning, regarding = berkenaan dengan

Account for                       :     Mempertanggung jawabkan

Separate from                    :     terpisah dari

Property (n)                       :     Kekayaan

Enter intro  contract          :     Membuat perjanjiankerja

Sue (v)                               :     Menuntut

Engage in                          :     terlibat

Unlike                               :     tidak seperti

Taxable (adj)                     :     dapat dikenakan pajak

Ownership (n)                   :     Pemililikan

Available (dj)                    :     dapat diperoleh, tersedia

General public                   :     Masyarakat umum, masyarakat  luas

Investor  (n)                      :     pemodal

Role (n)                             :     Peran 

Feature (n)                         :     Ciri yang khas

Unlimited life span           :     rentang umur yang tidak terbatas

Board  of director             :     Dewan  direksi

Proportion (n)                    :     bagian

Distribute (v)                     :     Membagi, mendistribusikan

Undertake (v)                    :     mengerjakan

Reason (n)                         :     Alasan 

Acces (n)                           :     Jalanmasuk, jalan menuju  ke suatu arah

Work with                         :     bekerja sama dengan

Provide (v)                        :     menyediakan

Liability protection           :     proteksi pertanggungjawaban

Combination (n)                :     Perpaduan, kombinasi

Favorable (adj)                  :     Yang mendukung

Treatment (n)                    :     laporan

Favorable tax treatment    :     laporan pajak yang mendukung

4. WHAT IS PRODUCTION

Many people confuse the terms of production, operations, and manufacturing.

Production  is a business activity that uses people and machinery  to  convert  materials and parts into saleable product. This process might involve the works,  ideas and  plans of the design engineers. Two types of companies engage in this activity. The first is a processing company. It is a firm that converts natural  resources  into raw materials. The second type is a  manufacturing  company. it is a firm that converts raw material into consumer and industrial goods. Production is not limited to the manufacture of good s ;  it applies to both the service and the manufacturing  sectors  of the economy.

Manufacturing  refers only to the physical  process of producing goods ; services are not manufactured. It is  the actual processes of making products out of materials and parts. 

Operations  are  the  function o needed to carry out a strategic plan, to keep the company producing. Production and operation manager are  responsible for  producing the goods  that business needs to sell. There are many kinds of products-good and service-wanted by people  in the marketplace.

Every business’s production goals focus on producing product-and  producing the best, the feast and the least cost.  Thus the production and  operations manager must produce with effectiveness and efficiency  while maintaining quality control.  

A production and operations manager’s job is to see that the operations necessary  to achieve the company’s production goals are carried out. To do this, these managers oversee  a  number of company operations.

Production and operation manager have product planning responsibilities, such as preparing finance  and marketing. They also oversee  the hiring, training,  and development of personnel for department involved  the company-especially marketing, warehousing,  and shipping-is important as well.  

Vocabulary 

Confuse (v)                       :  Puzzle = to fail to distinguish between (rancu) 

Terms (n)                           :  A name or words used for some particular thing = istilah

Convert (v)                        :  Change, transform = to change from one form to another = mengubah 

Material (n)                       :  the substance of which a thing is a made =  bahan

Seleable (adj)                    :  Able to be sold = dapat dijual 

Involve (v)                        :  to  include as a necessary part = mencakup

Engage (v)                         :  Involve = tercakup, terlibat 

Manufacture (n)                :  The making of  goods  machinery or  by hand refer (v)  = relate = mengacu

Carry out (v)                     :  To put (plans, instruction, etc) into practice =  melaksanakan

Responsible for (adj)         :  Answerable for acts  or decisions = bertanggung jawab 

Marketplace (n)                 :  World  of trade activity = pasar

Goal (n)                             :  aim, purpose = tujuan, sasaran 

Focus on                            :  Bring to central point  =  bertumpu pada

maintain (v)                       :  Keep  in a existing state = menjaga, merawat

oversee (v)                         : Supervise = mengawasi 

hiring (n)                           :  Employ for pay = memperkerjakan

training (n)                        :  Pelatihan

development (n)                :  Perkembangan

warehouse (n)                    :  Gudang 

shipping (n)                       :  Pengiriman

steadily increasing             :  mengalami peningkatan  dengan pasti  

common                            :  General, widely  existing = umum 

measure                             :  Tolak ukur 

Labour (n)                         :  People who work  for wages = pekerjaaan 

Express                              :  Make known in words – menyatakan

Output (n)                         :  product = hasil 

Combine (v)                      :  Join, unite = memadukan

Generate (v)                      :  To bring  into existence, produce = menghasilkan

Price (v)                             :  Set a price on = menetapkan harga

Estimate  (v)                      :  Judge the approximate value  = menaksir nilai

Sechedule (n)                    :  list showing  sequence of events = jadwal

5. PRODUCT  AND PRICE

A product is a good, service, or idea including alt the tangibles and intangibles pro­vided in an exchange between a buyer and a seller. People buy a product for the benefits and satisfaction it gives. A product can be a good (like a car) or a service (like your checking account at the bank). Sometimes a product is a blend of the both. Dinner at a restaurant, for example, consists not only of tangible items - food and beverages - but also preparation, service, and the appeal of dining in that special setting.

Product used by individuals for personal and family consumption are consumer products. Inexpensive goods and services that consumer often buy, without much thought or effort, are convenience products. Milk, bread, magazine, soft drinks are examples.

An item that buyers will expend time and effort to find and purchase is shopping product. This category includes goods such as TV set, VCRs, major appliances, and furniture, and services such as dental care, legal advice, and tax preparation.

Goods and services that have specific attributes desired by a particular group =, of consumers are known as speciality products. Speciality products can be expensive and unique, such as Mercedes sports car.

Vocabulary

Tangible                   :     That can be felt by touch = berujud 

Exchange                 :     The giving or taking  of one thing in return for another = pertukaran

Benefit                     :     Something  that desirable =  manfaat

Satisfaction              :     state   of being satisfied  = kepuasan

Blend                       :     Campuran

Beverage                  :     Drink = minuman 

Preparation               :     Persiapan

Setting                      :     Arrangement = tatanan

Individual                :     Person = orang

Consumption            :     Use of goods service = konsumsi, penggunaan barang atau jasa 

Effort                       :     Use of  resource  toward  a goal = upaya 

Item                          :     Goods = barang

Expend                     :     pay out = pengeluaran (dalam bentuk uang)

Find                          :     Discover  = mendapatkan

Purchase                   :     Buy, obtain in exchange  for money

Include                     :     Involve = mencakup, meliputi

Appliance                 :     Household device = peralatan rumah tangga

Attribute                  :     Characteristics = cirri, tanda 

Shallow                    :     Sligh, small in amount = berjumlah kecil

Deep                         :     broad, large in amount  = berjumlah besar

Refer                        :     Have connection = mengacu 

Aspect                      :     aspek,segi

Transaction               :     Business deal = transaksi

Crucial                      :     Critical, vitaliy important = sangat penting

Highly visible           :     tampak nyata

Greatly affect           :     Sangat mempengaruhi 

Consider                   :     think about = mempertimbangkan

Take into account     :     Memperhitungkan 

Competition             :     Persaingan 

Perception                :     Thought = pemikiran

To set price               :     Menetapkan harga

Equal                        :     Sama-sama 

Competitor               :     Pesaing

Distinguish               :     Difference = perbedaan   

Prevent                     :     mencegah

Register                    :     List, schedule = daftar 

Legally protected     :     Dilindungi menurut hukum

6. WHAT IS MARKETING

The American Marketing Association defines marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objec­tives.­

Marketing activities are required for many different kinds of products. Product is not only tangible goods - those that can be held or touched-, but also can be intangible services - those that cannot be held or touched- such as health care services.

Ultimately the purpose of marketing activities is to bring about exchanges. Ex­change is the process by which parties provide something of value to one another to satisfy the needs of each.

Through activities that enables exchanges to take place, marketing adds value to products. This value is known as utility, the ability of a product to satisfy a consumer need. There are four types of utility: form, time, place, and possession.

Marketing directly creates three types of utility. By making products available when consumers want and need them, marketing creates time utility. Publishing com­pany print and distribute morning newspaper early so readers can read them at breakfast or while commuting to work.

Marketing is important to organizations and consumers  alike. It touches the lives of all members of society. Through the cost of what we purchase, each of us supports the costs of marketing. Most people would agree that marketing costs are worth it because the many and varied marketing activites enable us tosatisfy our needs and want. A needs is something  required  for human survival, such as food, water, shelter,  and clothing. A want is something desired but no necessary  for basic survival.  Without marketing, many needs  and wants would go unsatisfied.

Vocabulary

Execute                    :     Perform = melaksanakan

Conception               :     Idea = konsepsi, gagasan

Promotion                :     Advancement = peningkatan, pengembangan, promosi 

Care                          :     Perawatan

Ultimately                :     Finally = pada akhirnya 

Purpose                    :     something  aimed at = tujuan, maksud

to bring  about          :     To cause, to make happen = menyebabkan

enable                       :     Memungkinkan untuk

add                           :     menambah

ability                       :     kemampuan

publishing company :     Perusahaan penerbitan 

distribute                  :     Divide  among many = membagikan, mendistribusikan 

commute                  :     Travel back and froth regularly = perjalanan dengan kendaraan pulang pergi secara tetap

obtain                       :     Gain by effort, mendapatkan

transfer                     :     Move from one person to another

clerk                         :     Salesperson in a store = pelayan toko

alike                          :     Identical, very similar, identik, hampir sama

touch                        :     Make contact with so as  to feel (menyentuh)

society                      :     community life, masyarakat

purchase                   :     Obtain in exchange for money, membeli

agree                         :     express willingness, bersedia, setuju

worth                        :     Equal in value to

survival                     :     remain alive, bertahan hidup 

shelter                       :     Something that gives  protection, tempat berteduh, rumah

compose of               :     Consist of, terdiri dari :

divide                       :     separate, membagi 

characteristic            :     Sifat, cirri

State                         :     Express in words, mengungkapkan dengan kata-kata

Strive                        :     Try hard, berusaha keras

Call for                     :     Require, memerlukan

Appropriate              :     Suitable, sesuai

7. PROMOTIONAL STRATEGY

PROMOTIONAL STRATEGY

Promotion is marketing activity that stimulates dei112nd for a firm's products. Mar­keters promote everything from needle to aircraft. Once the product has been cre­ated, promotion is often used to competition.

Promotional strategy is the plan for informing, persuading, or reminding the target market about a product. The goal is to stimulate action. In a profit-oriented firm, the desired action is for the consumer to buy the promoted item.

The combination of advertising, personal selling, sales promotion, and publicity used to promote a product is called the promotional mix.

Advertising is any non personal message paid for by an identifiable sponsor for the purpose of promoting products. Companies use two types of advertising: product advertising and institutional advertising. Product advertising, is advertising intended to promote demand for a product or service such as Pepsodent toothpaste. Institutional advertising is advertising done to enhance a company's public image rather than to sell a product.

The second element of the promotional mix is personal selling. It is a face-to face attempt to persuade prospective customers to buy a given product. Personal selling provides the company with the opportunity (1) to give customers individuals attention, (2) to adapt a message to the customer, (3) to focus on a specific target  market, (4) to receive immediate feedback, and (5) to provide  the opportunity to close  the sale.

Vocabulary 

Stimulate (v)                        :  Mendorong 

Promote (v)                          :  Meningkatkan 

Needle (n)                            :  Jarum

Aircraft (n)                           :  Pesawat terbang 

Inform (v)                            :  Menginformasikan 

Persuade (v)                         :  Menganjurkan 

Remind (v)                           :  Mengingatkan

Face-to-face                         :  tatap muka

To be intended (v)               :  Dimaksudkan 

Enhance (v)                          :  Meningkatkan

Adapt (v)                             :  Menyesuaikan

Message (n)                          :  Pesan

Focus (v)                              :  Memusatkan 

Feed back (n)                       :  Umpan balik

Support (v)                           :  Memberi dukungan

Overlook (v)                         :  Mengawasi

Blend (v)                              :  Mencampur

Nature (n)                             :  Sifat

Serve (v)                               :  Memeramkan

Channel (n)                          :  saluran

Rather than                          :  Daripada 

Aimet at                               :  Diarahkan pada 

Rely on (v)                           :  Mengadandalkan,  mempercayai

Combination                        :  Perpaduan, kombinasi 

Competition                         :  persaingan 

Profit-oriented                     :  Bertujuan mencari laba 

Identifiable (adj)                  :  dapat diidentifikasikan 

Effectiveness                       :  Keefektifan

Nonpaid communication      :  komunikasi tanpa biaya

REFERENSI

Mahmud machfoedz, English for student of business, UPP; yogyakarta. 1997