State-owned or government-owned companies - relating to companies and other organizations that are the property of a government.

Unit 11

Organizations 1

Business -  the activity of producing, buying and selling goods and services.

Business, company or firm( concern) -is an organization that sells goods or services.

Big business –large companies considered together.

Enterprise - a company or a particular activity, especially to emphasize its risk-taking nature.

 Self-employed person- working on their own.

Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are business whose personnel numbers fall below certain limits.

Large company - relating to a company that has shares with a high total value.

Corporate culture-the way a company’s employees think and act

Corporate ladder - the different levels of management in a company

Corporate headquarters-a company’s main office

Corporate logo-a symbol used by a company on its products, advertising, etc.

Corporate image-all the ideas, opinions, etc. that people have about a company

Corporate profits-the money made by companies

Commerce is used:

to refer to business in relation to other fields: ‘literature, politics and commerce’.

for government departments that deal with business: US Department of Commerce. in the names of organizations that exist to help business: chambers of commerce. to refer to business on the internet: electronic commerce or e-commerce.

The adjective commercial describes money-making business activities:

Commercial airline -acarrier of freight and passengers by air,

 Commercial artist- someone who creates art for advertising, to decorate packaging, for magazine covers, etc.:

Commercial disaster- financial trouble in business.

Some industries , had been nationalized – they were entirely state-owned.

Many of nationalized companies  were privatized- by selling them to investors.

Privatization-the act of selling an industry, company or service that was owned and controlled by the government, so it becomes privately owned and controlled.

Bureaucracy – the system for running government departments, with its rigid rules and slow decisions.

Private enterprise-industry and businesses owned by ordinary people, not by the government.

Free enterprise -an economic system in which private businesses compete with each other to sell goods and services in order to make a profit, and in which government control is limited to protecting the public and running the economy.