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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

Day 1 – Legal forms of business (U.S.)

Sole proprietorship – simple and inexpensive to set up; personal liability of the owner

Partnerships
• General partnership – simple and inexpensive to set up;
personal liability of the owners
• Limited partnership –limited partners have limited liability if they don’t manage the firm; more expensive to set up than general partnerships, general partners personally liable

Corporations
• Regular corporation – limited liability of owners, fringe benefits as business expense, lower tax rate; expensive to create,
lot of paperwork, double taxation
• S Corporation – limited liability of owners, tax advantages; expensive to create, paperwork
• Nonprofit corporation – no income tax, donations tax eductible; must be charitable, scientific, educational, literary, r religious to benefit from tax law

Limited liability companies – limited liability of owners
even if they manage the company, profits and losses do not have to
be allocated accordingly with ownership interests, choice between
being taxed as partnership and corporation; more expensive to set up than partnerships

Special forms
• Professional corporation (PC)
• Professional limited liability company (PLLC)
• Professional partnership
• Limited liability partnership

Feel free to comment, ask questions, make suggestions, or otherwise contribute.

Alternatively, you can e-mail me at info@expertenglish.plMateusz Wodziński edytował(a) ten post dnia 29.06.09 o godzinie 21:29
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

Day 2 - How to avoid gender-sensitive issues in writing?

Mailman ==> mail carrier
Congressman ==> congressperson
Spokesman ==> spokesperson
Chairman ==> chairperson
Layman ==> layperson
Fireman ==> firefighter
Salesman ==> salesperson, sales rep
Manpower ==> workforce
Mankind ==> humankind, humanity
Man-hours ==> work hours
Foreman ==> supervisor
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

Trickle-down economics

Trickle-down economics is a political concept (or theory) stating that providing assistance and support to businesses and wealthiest individuals will, in turn, help the middle and lower classes. This assistance is most often in the form of tax cuts and incentives as well as other benefits, such as direct government investments. The logic behind this is that the wealthiest will become even wealthier and later, they will pass those earnings back into the society, eventually trickling down to the lower class.

Trickle-down economics is closely related to supply-side economics, more on that later.

Further reading:
http://www.nytimes.com/2007/04/12/business/12scene.html
http://www.wisegeek.com/what-is-trickle-down-economics...
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

4. Day 4 Management science part 1 Porter’s 5 forces

Porter’s five forces analysis is a relatively straight-forward method of gauging and measuring the potential and likely profitability of a particular industry.

a. Power of suppliers
Do our suppliers have an advantage over us, or are they dependant on our business?
b. Power of buyers
Do our buyers have a lot of choices when it comes to purchasing product that we offer?
c. Competitive rivalry
How competitive and diversified is the industry in terms of competition?
d. Threat of substitution
How likely are our buyers to switch from using our products to using something else?
e. Threat of new entrants
How easy is it for new companies (our potential competition) to enter the industry?

Further reading:
http://www.quickmba.com/strategy/porter.shtml - detailed description
http://student.dcu.ie/~slejhad2/porter.htm - an example of the analysis
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

5. Concept of the day: Accelerated depreciation

A depreciation method which allows faster write-offs than the straight line method. These methods provide a greater tax shield effect than straight line depreciation, and so companies with large tax burdens might like to use accelerated depreciation methods, even if it reduces the income shown on financial statement. Accelerated depreciation methods are popular for writing-off equipment that might be replaced before the end of its useful life since the equipment might be obsolete (e.g. computers). One example of an accelerated depreciation method is the Modified Accelerated Cost Recovery System (MACRS).

source: http://www.investorwords.com/35/Accelerated_Depreciati...Mateusz Wodziński edytował(a) ten post dnia 03.07.09 o godzinie 10:05
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

Day 6 Principles of Lean Management

Specify value from the standpoint of the end customer by product family.

Identify all the steps in the value system for each product family, eliminating every step and every action and every practice that does not create value.

Make the remaining value-creating steps occur in a tight and integrated sequence so the product will flow smoothly toward the customer.

As flow is introduced, let customers pull value from the next upstream activity.

As these steps lead to greater transparency, enabling managers and teams to eliminate further waste, pursue perfection through continuous improvement.

Source: http://www.lean.org/WhatsLean/Principles.cfm
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

Phrase of the day: demographic characteristics

Demographic characteristics – the specific political, social, and economic characteristics common to identifiable groups of people.

Source: Demographic characteristics
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

Six Sigma – introductory definition

Six Sigma is a business strategy that seeks to identify and eliminate causes of errors or defects or failures in business processes by focusing on outputs that are critical to customers (Snee, 1999). It is also a measure of quality that strives for near elimination of defects using the application of statistical methods. A defect is defined as anything which could lead to customer dissatisfaction. The fundamental objective of the Six Sigma methodology is the implementation of a measurement-based strategy that focuses on process improvement and variation reduction.

Source and further reading: www.ImprovementandInnovation.comMateusz Wodziński edytował(a) ten post dnia 08.07.09 o godzinie 10:39
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

Six Sigma – key characteristics

• Six Sigma strategy places a clear focus on achieving measurable and quantifiable financial returns to the bottom-line of an organisation. No Six Sigma project is approved unless the bottom-line impact has been clearly identified and defined.
• Six Sigma strategy places an unprecedented importance on strong and passionate leadership and the support required for its successful deployment.
• Six Sigma methodology of problem solving integrates the human elements (culture change, customer focus, belt system infrastructure, etc.) and process elements (process management, statistical analysis of process data, measurement system analysis, etc.) of improvement.
• Six Sigma methodology utilises the tools and techniques for fixing problems in business processes in a sequential and disciplined fashion. Each tool and technique within the Six Sigma methodology has a role to play and when, where, why and how these tools or techniques should be applied is the difference between success and failure of a Six Sigma project.
• Six Sigma creates an infrastructure of champions, master black belts (MBBs), black belts (BBs) and green belts (GBs) that lead, deploy and implement the approach.
• Six Sigma emphasises the importance of data and decision making based on facts and data rather than assumptions and hunches! Six Sigma forces people to put measurements in place. Measurement must be considered as a part of the culture change.
• Six Sigma utilises the concept of statistical thinking and encourages the application of well-proven statistical tools and techniques for defect reduction through process variability reduction methods (e.g. statistical process control and design of experiments).

Source and further reading: www.ImprovementandInnovation.comMateusz Wodziński edytował(a) ten post dnia 08.07.09 o godzinie 10:40
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

Word of the day: Incentivize

To incentivize – to provide with an incentive

Example: Incentivizing breakthrough technologies (providing incentives for …)

Source:http://www.merriam-webster.com/dictionary/incentivizingMateusz Wodziński edytował(a) ten post dnia 13.07.09 o godzinie 12:19
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

Mezzanine financing

Mezzanine financing - offers a way for publicly and privately held companies to attain financing without going public and potentially ceding ownership of their company. It is a blend of traditional debt financing and equity financing, reaping some benefits of both. Like equity financing, mezzanine financing is an unsecured debt, requiring no collateral to be put up unlike traditional bank loans. Like debt financing, mezzanine financing is very fluid and does not necessarily involve giving up an interest in the company.

Mezzanine financing relies on very high interest rates in the 20-30% range to make it profitable. Unlike a bank loan, mezzanine financing does not hold real assets of a company as collateral; instead, lenders offering mezzanine financing have the right to convert their stake to an equity or ownership in the event of a default on the loan.

Mezzanine financing is a particularly appealing form of liquidity for owners of privately held companies.

Read moreMateusz Wodziński edytował(a) ten post dnia 15.07.09 o godzinie 10:57
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Mateusz W.

Mateusz W. Exen

Temat: Daily Dose of Language

Alpha - definition

A measure of selection risk (also known as residual risk) of a mutual fund in relation to the market. A positive alpha is the extra return awarded to the investor for taking a risk, instead of accepting the market return. For example, an alpha of 0.4 means the fund outperformed the market-based return estimate by 0.4%. An alpha of -0.6 means a fund's monthly return was 0.6% less than would have been predicted from the change in the market alone.
In a Jensen Index, it is factor to represent the portfolio's performance that diverges from its beta, representing a measure of the manager's performance.

Source: http://www.nytimes.com/library/financial/glossary/bfgl...
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Adam Kris

Adam Kris

Temat: Daily Dose of Language

I have read your post very carefully and I just want to say that the information you shared is really great and I have learned a lot from it. Suika game
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