W7: Vocab blog

Exporting (n)

Export (v)

The meaning : The term export is derived from the conceptual meaning as to ship the goods and services out of the port of a country. The seller of such goods and services is referred to as an "exporter" who is based in the country of export whereas the overseas based buyer is referred to as an "importer". In International Trade, "exports" refers to selling goods and services produced in home country to other markets.Any good or commodity, transported from one country to another country in a legitimate fashion, typically for use in trade. Export goods or services are provided to foreign consumers by domestic producers

Q1:The products mentioned in the video that foreign companies usually export to Thailand : Cosmetic, medicare product, Gn,and Honda
The sentence of exporting : USA is exporting cosmetic to Europe

Freight /freɪt/

The meaning: goods, but not passengers, that are carried from one place to another, by ship, aircraft, train or truck, or the system of transporting these goods.

Freight forwarder  

The meaning: is a person or company that organizes shipments for individuals or other companies and may also act as a carrier.A forwarderis often not active as a carrier and acts only as an agent, in other words as a third-party (non-asset-based) logistics provider that dispatches shipments via asset-based carriers and that books or otherwise arranges space for these shipments. Carrier types include ships, airplanes, trucks, and railroads.Freight forwarders typically arrange cargo movement to an international destination.  

Q2: Why is freight forwarder important for a company exporting products to other countries? Answer:Because when they have to open the market in each country. These agents are familiar with the import rules and regulations of foreign countries, the export regulations of the U.S. government, the methods of shipping, and the documents related to foreign trade. THen the fright forwarder important for a company exporting product.

Importing (n)

Import (v)

/ɪmˈpɔːt/

The meaning; it is to buy or bring in products from another country.

Do you agree that the products mentioned in the video are what Thailand usually imports from foreign companies? What else is Thailand also known for importing? 
Answer; I do agree with the question above. Thailand imports the new technology from USA for example, the machines for factory.
The sentence of importing:  Gasoline in Thailand is importing from  another country.

Learning Curve 
curve /kɜːv/  

For the business context:  learning curve is a graphical representation of the changing rate of learning (in the average person) for a given activity or tool. Typically, the increase in retention of information is sharpest after the initial attempts, and then gradually evens out, meaning that less and less new information is retained after each repetition.

 
For non-business context: it is the curve that show the development of knowledge or ability of somebody.


Licensing  (n) /ˈlaɪ.sənt s/

The meaning: The granting of permission to use intellectual property rights, such as trademarks, patents, or technology under defined conditions.

The sentence of licensing : Disney's company have licensing to produce and sell product about doll or clothes.

The synonym of licensing : authorization, certificate

We6: Vocabulary blog

SWOT Analysis

1. The SWOT is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. 

2. The SWOT stand for;

• Strengths: characteristics of the business or team that give it an advantage over others in the industry.
• Weaknesses: are characteristics that place the firm at a disadvantage relative to others.
• Opportunities: external chances to make greater sales or profits in the environment.
• Threats: external elements in the environment that could cause trouble for the business.

 3.  The 2 objectives my competitors about my games's shop.

       - Giving a good service ; service by smiling, willing, and happy to service.
       - Using new game's machines and new high technology of game's machine.
4. SWOT pictures

Expertise

1. Expertise  (n)  /ˌek.spɜːˈtiːz/

2. Expertise means a high level of knowledge or skill. 

Synonym; professional, experience.

3. i.e. i have no expertise for running business.

Strategic Planning

1. Strategic planning is organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people.

 2. The relationship between SWOT and Strategic planning; they also use the strategies/methods to manage, consider and plan what the business will be in the future or how business can be successful and how compete to the competitors (find the unique). 3. the strategic planning process

All strategic planning deals with at least one of three key questions:

1. "What do we do?"
2. "For whom do we do it?"
3. "How do we excel?"

  Strategic Positioning 

1. Strategic positioning is the positioning of an organization (unit) in the future, while taking into account the changing environment, plus the systematic realization of that positioning. The strategic positioning of an organization includes the devising of the desired future position of the organization on the basis of present and foreseeable developments, and the making of plans to realize that positioning.

 2. Watch the video: Export Marketing Bootcamp -Positioning - Building a Strong Position http://www.youtube.com/watch?v=Yhzm5Fo6soU   

(1) Why does a small business owner need to take into account strategic positioning? (Hint: Think about why not care strategic positioning?)  Answer; Because if a small business owner does not has accounting, the strategic positioning of business will be stop, and we will not know how much money that we use for investing and we will not know profit and loss in our business.    

(2) As a small business owner, what should you consider when finding a position in the market? Answer; as a small business owner, i will consider with; Geography, Product/Service offering, Customer/Target audience, and Added- value/ Differentiation (a unique)  

 (3)  After you find a position in the market, how can you know whether it is a strong position or not? Answer;      

                 1. Own-able; can we do it?      

                    2. Believable; will market believe we can do it?      

                    3. Compelling; to the market, does they care?    

                    4. Different; is it unique? 

Scarcity (n)  /ˈskeə.sɪ.ti/ 

1. Scarcity; when something is not easy to find or get. 

2. Scarce (adj.); it is not easy to find or get. 

3. i.e.: Scarcity; a scarcity of Toyota's supplies are very weak because there are many supplies in many countries. It will not make Toyota company to be scarce because the price of a car is cheap, standard quality and make many profitable more than other competitors. 

4. Synonym of scarecity and scarce; infrequent,lack, limited, barely

5. Antonym of scarcity and scarce; perfect, sufficiency, abundant 

W5: vocabulary blog

Niche     /niːʃ/

The meaning;  an area or position which is exactly suitable for a small group of the same type in marketing .
For example; J&J point to sell products for health to children and moms.

Trademark  /ˈtreɪd.mɑːk/
The meaning; a name or a symbol which is put on a product to show that it is made by a particular producer and which cannot be legally used by any other producer.
The trademark tells of the characteristics of the corporation; i think it is the unique of the company that will make we know and understanding that making trademark for whom.
i.e. The trademark of apple is very clear and easy to remember.

Royalty fee 
Royal;  the people who belong to the family of a king and queen.
Royalty fee; are usage-based payments made by one party (the "licensee") and another (the "licensor") for ongoing use of an asset, sometimes an intellectual property (IP).
Loyalty; to respect to the king and the queen like honesty.  
The pronunciation of
Royalty  /ˈrɔɪ.əl.ti/   the people who belong to the family of a king and queen.
Loyalty  /ˈlɔɪ.əl.ti/    your feelings of support or duty towards someone or something.

  i.e. the  starbucks in Ubon has to pay royalty fee to the parent company of the franchise.


Synergy  /ˈsɪn.ə.dʒi/
meaning; the combined power of a group of things when they are working together which is greater than the total power achieved by each working separately.
Synonym; teamwork, unity, union
i.e. when we have some projects to do, we should do as a team or synergy.

Franchising  (n)  /ˈfræn.tʃaɪ.zɪŋ/

Franchise (v) to give or sell a franchise to someone.

when I compare the pronunciation in the online- dictionary, there is the same pronunciation but different accent.

franchiser; someone who gives or sells a franchise

Franchisee; someone who is given or sold a franchise.

i.e. the franchising that is very popular in Ubonratchatani University is 7-11.

W4: Vocabulary Blog

1. Consumer /kənˈsjuː.mər /   (n)
 A person who buy goods or service for their own use.
2. Consumerism /kənˈsjuː.mə.rɪ.zəm/ (n)
The state of an advanced industrial society in which a lot of goods are bought and sold.
3. Conservation /ˌkɒnt .səˈveɪ.ʃən/ (n)  
The protection of plants and animals, natural areas, and interesting and important structures and buildings, especially from the damaging effects of human activity.
Synonym: saving,protection
4. Conserve /kənˈsɜːv/ (v)  
To keep and protect something from damage, change or waste.
Synonym: to protect
Antonym: to destroy
5.Recycling /ˌriːˈsaɪ.klɪŋ/ (n) 
When paper, glass, plastic, etc. is put through a process so that it can be used again.
6. "Re" /riː/
 To do something again.
Example; return means  to come or go back to a previous place.
                reuse means to use something again.
                recall means  to bring the memory of a past event into your mind, and often to give a description of what you remember.
7. Ethic/Ethics /ˈeθ.ɪk/ (n)
A system of accepted beliefs which control behaviour, especially such a system based on morals.
8. Business ethic  (n)
A form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.
Example; Johnson& Johnson company  the Johnson will care the healthy of women and children. There used to happen the problem with the Tylenol medicine and made the baby to be cancer. 
http://www.scribd.com/doc/46959107/Assgn-1-Tylenol-Problem
http://iml.jou.ufl.edu/projects/fall02/susi/tylenol.htm
 9. Personal ethics (n)
A category of philosophy that determines what an individual believes about morality and right and wrong. This is usually distinguished from business ethics or legal ethics.
http://www.wisegeek.com/what-are-personal-ethics.htm
Example of personal ethics
- Justice
- Honesty
-Leadership




 

W3: Vocabulary Blog

1. Article (n) /ˈɑː.tɪ.kl ̩/
- a piece of writing on a particular subject in a newspaper or magazine.
i.e. i write the article for presenting to the boss about the new project.

2. Articles of incorporation (n)
- They are the primary rules governing the management of a corporation in the United States and Canada, and are filed with a state or other regulatory agency.
3. Charter (n) /ˈtʃɑː.tər/ 
- A formal statement of the rights of a country's people, or of an organization or a particular social group, which is agreed by or demanded from a ruler or government.
synonym; renting contract, agreement, allow, contract.
4. Corporate charter (n) 
 - They are the primary rules governing the management of a corporation in the United States and Canada, and are filed with a state or other regulatory agency.
5. Venture (n) /ˈven.tʃər/
-A new activity, usually in business, which involves risk or uncertainty.
6. Joint venture
- it  is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets. There are other types of companies such as JV limited by guarantee, joint ventures limited by guarantee with partners holding shares.
7. C corporation (n) 
- C corporation refers to any corporation that, under United States income tax law, is taxed separately from its owners. Most major companies (and many smaller companies) are treated as C corporations for U.S. income tax purposes.
8. S corporation (n)
- An S corporation, for United States federal income tax purposes, is a corporation that makes a valid election to be taxed under Sub-chapter S of Chapter 1 of the Internal Revenue Code.
- S corporations do not pay any federal income taxes. Instead, the corporation's income or losses are divided among and passed through to its shareholders. The shareholders must then report the income or loss on their own individual income tax returns. This concept is called single taxation; if the corporation is taxed as a C corporation, it will face double taxation, meaning both the corporation's profits, and the shareholders' dividends, will be taxed.

9. Making sentences of five key terms.  C corporation, and S corporation
-  Articles of incorporation
i.e. My company is making the articles of incorporation with China corporation.
- Corporate charter
i.e. the United State allowed me to write the corporate charter to suggest about structure and planning operation.
- Joint venture
i.e. Thai Washin company a joint venture company with Japanese Washin Chemical company.

-  C corporation

i.e. C corporation  would typically first pay a state corporate income tax on its profits. 

-  S corporation 

i.e. S corporation has only allowable shareholder.

W2: Vocabularies Blog

1. Estate /ɪˈsteɪt/  
(n)a large area of land in the country which is owned by a family or an organization and is often used for growing crops or raising animals.
i.e. 

2. Estate planning  is the process of anticipating and arranging for the disposal of an estate.

3. Family limited partnership 
are frequently used to move wealth from one generation to another.

4. Buy-sell agreement 
also known as a buyout agreement, is a binding agreement between co-owners of a business that governs what happens if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business. we use the buy-sell agreement when we want to make a trade with another company.



5. Living trust 
a trust that becomes effective during the lifetime of the settlor —called also inter vios trust.

W1: Vocabularies Blog

1. incubators /ˈɪŋ.kjʊ.beɪ.tər/ (n); a device for keeping birds' eggs at the correct temperature to allow young birds to develop until they break out of the shell.
 In the meaning of business is to grow the company to be better.
i.e. the egg's bird can getting warm and having alive or surviving by using the incubators.


2. Discontinuance /ˌdɪs.kənˌtɪn.juˈeɪ.ʃən/ (u); to stop doing or providing something.
Dis- : means not/ is not/ stop. to show an opposite or negative.
         to show the stopping or removing of a condition e.g. dislike, discontinuance, disconnect.
i.e. the discontinuance of Dtac network is not good for many people in Thailand because it makes people cannot communicate with other people.
Synonym: close, stop
Antonym: open, continuance.

3.Entrepreneur /ˌɒn.trə.prəˈnɜːr / (n); someone who starts a new business or arranges business deals in order to make money, often in a way that involves financial risks.
i.e. Mr.Tan* is Thai entrepreneur that has successful in business in Thailand.
* He is the owner of green tea (Oishi drink brand).


4.Small business (n); is dependently owned and operated and is not dominants in its field.
i.e. there are many small businesses in Thailand such as beach coffee shop.
The small business that has been successful in Ubonratchatani is Man hair shop. 


5. Failure /ˈfeɪ.ljər / (n); when someone or something does not succeed.
i.e. i do not want to be a failure because it will make me to be crazy.
Synonym: loser, fail, succeeder.
Antonym: success, win. 


6. Formal failure; is failure ending up in court with loss to creditors.
    Personal (informal) failure; the owner who cannot succeed voluntarily terminaters the business.