商务英语重点词汇补充
Business and businesses 商业和公司
A business , company, or firm is an organization that sells goods or services. A business may also be referred to formally as a concern. Business is the production, buying, and selling of goods and services.
A business may be referred to approvingly as an enterprise to emphasize its adventurous, risk-taking qualities, and business in general may be referred to in the same way, for example in combinations such as free enterprise and private enterprise.
Business is also referred to as commerce. This word, and its related adjective commercial, are often used to distinguish the business sphere from other areas such as government or the arts, or to distinguish it from nonmoney-making activities.
注释：
Business 商业；生意；公司
Company 公司；商号
Firm (合伙的)商号；商行
Concern 康采恩（垄断企业形式之一） Enterprise 企事业单位 Commerce 商业； 商务 Free Enterprise 自由企业
Commercial 商业的；商务的；商用Private Enterprise 私人企业 的
From multinationals to small firms 从跨国公司到小型企业
Large companies are referred to as corporations, especially in the United States. Corporate is used to describe things relating to a corporation, or to corporations in general, in expressions like the ones in the next exercise. Large companies operating in many countries are multinationals.
Big business can refer to large business organizations or to any business activity that makes a lot of money. Small companies are referred to as small businesses or small firms.
Unlike some languages, English does not have an everyday term for small and medium-sized companies, apart from this rather clumsy expression.
注释：
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Corporation 大公司；股份有限公
Big business 大型企业；大公司
司 Small business 小公司
Small and medium sized companies
Corporate 法人；团体 Small firm 小公司
中小规模的公司
Multinational 跨国的；多国的
Industries and sectors 工业及其部门
Businesses may be classified according to which industry they are in: for example construction, oil, banking, food.
Sector is sometimes used to mean industry in the same way, particularly by specialists such as financial journalists, but it is more often used to talk about different parts of the economy in combinations such as public sector and private sector, or about types of business in expressions like service sector and manufacturing sector.
注释：
Industry 工业；产业
Sector 部门；部分
Public sector 公共部门
Private sector 私营部门 manufacturing sector 制造部门
Service sector 服务部门
Public sector and private 公共部门和私营部门
When a private company is bought by the state and brought into the public sector, it is nationalized in a process of nationalization. A nationalized company is state-owned. When the state returns a company to the private sector in a sell-off, it is privatized. This is privatization.
The first to be sold off in a privatization program are often the companies responsible for the public supply of electricity, water and gas: the utilities.
注释：
Nationalized 国有化的
Nationalization 国有化
Privatized 私有化的
Stakes 份额；股份
Privatization 私有化
State-owned 国有的
Sell off 廉价出清
Sell-off 廉价出售；抛售
Utilities 公用事业；公用事业部门
If Company A owns shares or equity in Company B, A has or holds a stake, holding or shareholding in B. If A owns less than half the shares in B, it has a minority stake in B.
If A owns more than half the shares in B, it has a majority stake or controlling stake in B. If you have shares in a company you are a shareholder.
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注释：
Shares/stake 份额；股份 Shareholding 持有股票数
Equity 股份；产权；普通股票 Shareholder 股东 Holding 持有；股票额 Hold a stake 持有份额
Parents and sisters 母公司和姐妹公司
Majority stake 大股东（50%以上）
Controlling stake 大股东
Minority stake 小股东
A holding or holding company is one that holds stakes in one or more subsidiaries. If it owns all the shares in a subsidiary, the subsidiary is a wholly-owned one.
A holding company's relationship to its subsidiaries is that of parent company, and the subsidiaries relationship to each other is that of sister companies. A holding and its subsidiaries form a group.
A conglomerate is a group containing a lot of different companies in different businesses. Journalists also refer to large groups as giants.
注释：
Holding company 控股公司
Parent company 母公司
Subsidiary 子公司
Sister company 姐妹公司
Wholly-owned subsidiary 全资子公
Group 集团公司
司
Conglomerate 联合大企业
Giant 大企业；企业巨人（新闻用语）
Predators, raiders, and white knights 掠夺者、抢劫者和善意合作者
The takeover process is often described in terms of one animal hunting another: a company or
individual seeking to take over another company may be referred to as a predator, and the target company as the prey. Predators are also referred to as raiders or corporate raiders.
A company wishing to resist, ward off, or fend off being taken over has a number of options. It may devise plans that give existing shareholders special rights, or it may make itself less attractive to bidders by selling off a valuable part of the company, or holding on to an unattractive one. Actions like these are poison pills.
Or it may persuade a friendly partner, a white knight, to take a stake in the company, thus preventing a complete takeover by a hostile bidder. Bidders may agree to withdraw their bid if paid enough money for the shares they hold in the target company. This is green mail.
注释：
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Poison bill
Predator 掠夺者(恶意吞并其它企毒药(公司通过给予股东某些特权、或卖
Greenmail 绿函交易
业) 掉部分有价值资产，而持有或购进价值
指兼并企业以增加股
Prey 猎物(被恶意并购的企业) 不大的资产，从而减少自己对并购公司
票价值为条件撤回自
Raider 掠夺者(恶意并购其它企业) 的吸引力)
己向标的企业投标的
Corporate raider 合伙掠夺者
交易。 White Knight Fend off a bid 阻止收购
指购买公司部分股份以免遭兼并企业Ward off a bid 阻止收购
完全兼并的善意和或者。
Leveraged buy-outs and junk bonds 杠杆收购和垃圾债券
In a leveraged buyout, or LBO, a company is acquired by a group of investors, often financed by heavy borrowing. The debt is then paid out of the target company's operating revenues or by selling its assets.
The borrowing involved in LBOs is often high- risk debt called junk bonds.
LBOs financed by junk were frequent in the 1980s and after an absence following the excesses of that period, they are now occurring again.
注释：
Leveraged buy-out 杠杠收购
LBO = Leveraged buy-out Junk bonds 高风险债券
Joint ventures and alliances 合资与联盟
Two or more companies may decide to work together by setting up a joint venture or alliance
in which each holds a stake.
注释：
Joint venture 合资企业
Mergers 兼并
Alliance 企业联盟
When two companies combine, usually voluntarily, they merge in a merger.
注释：
Mergers 兼并
Restructuring 企业重组(1)
Merger 兼并
A group containing many types of business is diversified. A group's basic business activity, perhaps the one it originally started with, is its core business. Separate business activities may be viewed as profit centers, each responsible for generating profit.
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Businesses are often encouraged to concentrate or focus on their core activities and to sell off, spin off, or dispose of non-essential assets. These assets are often referred to as non-core assets.
A sale of assets in this way is referred to as a sell-off, spin-off, or disposal. A spin-off can also refer to a business that has been spun off.
注释：
Diversified 多样化；多角化
Core business 核心经营
Profit center 利润中心
Focus 集中经营
Assets 资产；基金 Spin off 剥离；拆分
Non-core assets 空心资本 Spin-off 剥离 Sell off 抛售 Dispose of 处理；变卖 Sell-off 抛售 Disposal 处理；变卖
Management buy-outs 管理层收购
When a group is restructured, the managers of a business that is to be sold off may want to buy
it themselves in a management buy-out or MBO, usually in combination with an organization providing finance in the form of venture capital.
注释：
Management buyout =
管理层收购 Venture capital 风险投资 MBO
Suits 套中人
（在文学作品中对经常穿套装的商人、企业家等人的一种非正式而又带有轻微贬义的称呼） People of all sorts work in business, and the terms businessman and businesswoman reflect this, referring as they do to a wide range of individuals, from the rich and famous right through to small company owners, from people in large organizations to those who work for themselves.
Businessmen and women are referred to together as businesspeople.
When supposedly more 'creative' types such as writers or actors deal with businesspeople, they may refer to them, informally and slightly insultingly, as suits.
Entrepreneurs and tycoons 企业家和金融巨头
An entrepreneur （企业家） is usually someone who builds up a company from nothing: a start-up （新创）company.
Entrepreneurs may one day become tycoons（实业界/金融界巨头）, magnates（产业大王）or moguls（工商巨擘）: rich and successful people with power and influence who head big organizations, usually ones they have built up themselves and in which they have a large personal stake.
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MBA联考商务英语词汇补充
