Exam: BEC Vantage

Definition: A person or thing that makes something formal or official, often by establishing rules or standards.

Example: The formalizer of the new policy ensured that all procedures were followed correctly.

Definition: A person or company that helps send goods from one place to another, making sure they reach their destination safely.

Example: The forwarder arranged for the shipment to arrive on time.

Definition: To fail or collapse completely, often used in the context of plans or projects that do not succeed.

Example: The project foundered due to lack of funding.

Definition: A person who creates or establishes something, such as an organization, institution, or company.

Example: Steve Jobs is known as the founder of Apple Inc.

Definition: To cause to fail or sink, especially in a difficult situation.

Example: The ship began to founder in the stormy seas.

Definition: A type of business that allows individuals or groups to operate under a brand name and sell its products or services, often with specific rules and support from the original company.

Example: She decided to open a coffee shop as a franchise of a popular brand.

Definition: To give someone the right to operate a business or sell products under a specific brand or name.

Example: The company decided to franchise its brand to expand its market reach.

Definition: A person or business that has been given the right to operate a franchise, which is a business model that allows them to sell products or services under the brand of a larger company.

Example: As a franchisee, she was able to open her own coffee shop using the brand's established name and business practices.

Definition: The process of allowing someone to operate a business using the brand and business model of another company.

Example: Franchising has become a popular way for entrepreneurs to start their own businesses with established brands.

Definition: To grant the rights to sell a company's products or services in a specific area, usually under the company's brand name.

Example: The company is franchising its popular restaurant chain to expand its reach.

Definition: Describing work that is done independently, not tied to a specific employer or organization, often on a project basis.

Example: She enjoys freelance work because it allows her to choose her own projects and clients.

Definition: To work independently, often on a project basis, rather than being employed by a single company.

Example: She decided to freelance as a graphic designer after leaving her full-time job.

Definition: A person who works independently and offers services to different clients without being tied to a single employer.

Example: She decided to become a freelance writer to have more flexibility in her work schedule.

Definition: To work independently, often on a project basis, rather than being employed by a single company.

Example: She decided to freelance as a graphic designer after leaving her full-time job.

Definition: A person who works independently, often on a project basis, rather than being employed by a company.

Example: She decided to become a freelancer to have more control over her work schedule.

Definition: The goods that are transported by a vehicle, especially in commercial shipping or delivery.

Example: The freight arrived at the warehouse on time.

Definition: To transport goods or cargo, usually for commercial purposes.

Example: The company will freight the products to the warehouse by next week.

Definition: The process of moving large amounts of goods from one place to another using vehicles like trucks, ships, or planes.

Example: The freighting of supplies to the remote area took several days.

Definition: To transport goods or cargo, usually by ship, truck, or train.

Example: The company is freighting supplies to the remote island.