1. Glossary
Concession: Permission granted to an official body to a company or an individual for operating an
activity or property
Address: managerial and leadership skill through which directs, influences and motivates followers
and members of the company to achieve business improvement related tasks.
Dumping: Trade in goods imported into a country below the actual price in their home country
Economies of scale: those where the increase in the quantity produced decreases production
costs, reducing the unit cost and in turn the price of it.
Efficiency: The ability to do the work outlined in the best way possible with a minimum of
resources used.
Effectiveness: Is the ability to succeed in the selection of the objectives, and the more appropriate
according to the goals of the organization.
Factors of production: basic Considered: land, labor and capital
Factoring: commercial mode financial sector is responsible for buying business portfolio short and
medium term.
Franchise: Agreement by which a license is granted to a company, yielding to this their trademark,
machinery and administrative culture.
Fusion: A process in which two or more businesses join together for the purpose of forming a new
company , usually regardless of the above.
Globalization: process that expands the production and supply of goods and services worldwide.
Good Will: It's a concept that has the characteristics that differentiate a company from its
competitors, giving your differentiator in the market, commonly reflected in their competitive
advantage.
Holding: Organization management where the parent company is the owner of the shares of its
subsidiaries.
Innovation: Changes that are made in order to improve outcomes and impacts both the company
and to the consumer or buyer of their goods and services.
Joint ventures: covenant concluded between two or more undertakings which created a new
company together with a specific goal.
Licensees: Contract by which a company receives from another the right to use more of its assets
in exchange for payment of an amount determined by the use thereof.
Monopoly: The firm or company in the market is only bidder for a good or service without
competition, controlling all variables (price, quantities produced, quantities supplied).
Multinational: Companies operating in more than one country, making their operations input ,
process and output internationally.

2. Collective Negotiation: That in which the terms and agreements made are made according to the
advice and consent of all the fans and employees of the organization.