CHANGE - DEFINITIONS

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Trailblazer
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is the first company to develop new methods of doing something. It means someone who is the first to do something or to discover something.
Turnaround
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means a complete change from bad situation to a good one.
The bottom line
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is the financial result of a company’s business, the amount of money that a business makes or loses.
Front-line employees
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mean people who directly interact and deal with customers.
Empowerment
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is giving someone the legal authority to make decision, is giving people the power to do something. People can make more decision on their own.
Company culture
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is ways of doing something by company, it is how company decide, what kind of methods and working system they have.
Economic downturn
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is when company has some economical and financial problems. Sometimes company has to shed staff. (prices or the value of stocks, shares fall)
Core competents
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means basic abilities, people with the key skills.
Intranet
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is an Internet-type system available only to a company employees.
Acquisition
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is when one company buys another one or part of another one.
Takeover
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means take control of a company by buying more than 50% of its shares.
Merger
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is when two companies or organisations decide to cooperate, and they join into one larger company.
Outsource
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is when company or organisation employs another company to do something.
Parent company
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if one company is the parent of another, it owns at least half the shares in the other company and has control over it.
Partnership
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is a relationship between two people, companies, organisations, or countries that work together.
Upgrade the product / service
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means improvement the quality of a service or product.
Retrain all staff
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means to teaching all the employees, new skills that are needed for a job.
Restructure the company
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means organizing something such as a company in a different way so that it will operate better.
Relocation their operations
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means moving activity to a different place, or to make someone or something do this.
Relaunch the product
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means a new attempt to sell a product, especially in a slightly different way.
Redevelop
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means improvement an area that is in bad condition by destroying or improving old buildings and building new ones.
Reassess
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the situation means carefully consider a situation, person, or problem again.
Downsize workforce
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means making a company or organization smaller by reducing the number of workers.
Deregulate
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means taking away the rules that control something.
Decentralise
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means changing the way a country, organisation or industry is run.

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