How We Work
time worked in addition to one's normal working hours
transformation
a complete change
Caterpillars transform into butterflies.
accommodation
2 definitions:
1. A place to sleep overnight
2. to take the wishes and needs of other people into account or fit in with them
A company life cycle
The different stages from the start of a company until the end of the company existence.
Innovation
The action or process of inventing something new - a new idea, method, or product
prospects
Prospects are opportunities.
For example:
You want a job with good promotion prospects so you can get a better position later on.
If you do not speak Italian, your job prospects in Italy will not be very good.
the effect that something has on something else.
Example:
A high sales volume has a positive impact on our profit margin.
Automation
The application of technology to monitor and control the production and delivery of products and services.
Insolvency
When a company cannot pay the money that it owes.
works council
a group of employees representing a workforce in discussions with their employers.
when someone is officially out of the office for a longer period of time, usually without pay.
To harness
Example: Solar power harnesses the radiation of the sun to create energy.
clarification
the action or process of making something clearer than before.
Example: Sometimes the meeting discussion points are confusing. When I think a point needs clarification, I often use the phrase "I heard you say".
When the business matures, sales begin to slowly decrease. Profit margins get thinner, while cash flow stays relatively stagnant. As firms approach maturity, major capital spending is largely behind the business, and therefore cash generation is higher than the profit on the income statement.
job security
the state of having a job that is secure and from which one is unlikely to be dismissed.
the amount of work that one person is responsible for
Machine Intelligence
Digital transformation involving IT and automation
Videoconferencing
using online communications platforms to have face to face meetings with people who are in different locations.
mergers and acquisitions
A merger is when a company becomes part of another company, and acquisitions are when companies are bought and sold by other companies.
bonus
a sum of money added to a person's wages as a reward for good performance.
Employee Engagement
when employees are committed to do everything they can to ensure a company's success, regardless of their salaries.
Moore's Law
Processing Power of computers doubles every 18 months to 2 years
burden
Something unpleasant or demanding that requires a lot of time or effort.
when a company closes completely or gives up.
Fringe benefits
Extras that you receive at your job that are not financial.
Examples:
- Free coffee
- Free food for lunch
- Free sports tickets
- discounts on gym memberships