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Adults
Adults/Unit 1: Business Fundamentals

Vocabulary

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Revenue

"Income."

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Profit

"Gain after cost."

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Investment

"Money put in."

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Shareholder

"Owner of stock."

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Strategy

"Long term plan."

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Competitor

"Rival."

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Innovation

"New ideas."

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Hierarchy

"Ranking system."

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Startup

"New company."

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Expense

"Cost."

Article

The Corporate World

Understanding the structure of a company is the first step to checking in. From "Sole Traders" to "Multinational Corporations (MNCs)," every business has a hierarchy.

Departments A standard company is divided into functions: HR (people), R&D (Innovation), Sales (Revenue), Marketing (Brand), and Finance (Money). Knowing where you fit in the "org chart" helps you understand your role.

Revenue and Profit "Turnover" is the money coming in; "Profit" is what is left after "expenses." The goal is to maximize the "bottom line." Shareholders look for "ROI" (Return on Investment). These acronyms are the language of money.

Startups vs. Corporates Startups value "agility" and "disruption." They want to "scale" fast. Corporations value "stability" and "market share." They want to avoid "risk." The culture you choose defines your career path.

Discussion

Questions

  • 1Would you rather work for a startup or a big corporation?
  • 2What is the most important department in a company?
  • 3Is profit the only goal of a business?
  • 4Have you ever wanted to start your own business?
  • 5What makes a business successful?

Further Discussion

  • 1Do corporations have too much power?
  • 2Should CEOs earn 100x more than workers?
  • 3Is 'business ethics' a contradiction?

Practice

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1.

The total amount of money a company receives is its...

2.

The money left over after paying all costs is...

3.

Money put into a business to make it grow is an...

4.

A person who owns part of a company is a...

5.

A long-term plan to achieve a goal is a...

6.

A rival company in the same market is a...

7.

The introduction of new ideas or methods is...

8.

The ranking system of authority in a company is the...

9.

A newly established, fast-growing business is a...

10.

The money spent to run a business is an...

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