Glossary


ASEAN
Association of Southeast Asian Nations. An international organization of Southeast Asian states established on August 8, 1967 with political, economic and cultural objectives.
Benchmarking
Comparative analysis of the products, services, processes, or financial data of a company with those of the leading competitors in an industry.
Compliance
Observing statutory provisions, internal company policies and ethical principles.
Continuous Improvement Process (CIP)
CIP aims to ensure the continuous optimization of product, process and service quality focused on corporate objectives. Inefficiencies are eliminated gradually and permanently and work methods are optimized through the systematic incorporation of employees’ abilities and practical knowledge.
Corporate Governance
International term for responsible corporate management and supervision driven by long-term value added.
Direct shift gearbox (DSG)
Gearbox that consists of two gearboxes with a dual clutch and so combines the agility, driving pleasure and low consumption levels of a manual gearbox with the comfort of an automatic.
Fair value
Fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction.
Hybrid drive
Drive combining two different types of engine and energy storage system (usually an internal combustion engine and an electric motor).
Modular Longitudinal Platform (MLB)
The use of a modular strategy in vehicle platforms in which the drivetrain is mounted longitudinally to the direction of travel. This modular arrangement of all components enables maximum synergies to be achieved between the vehicle families.
Modular Transverse Matrix (MQB)
As an extension of the modular strategy, this platform can be deployed in vehicles whose architecture permits a transverse arrangement of the engine components. The modular perspective enables high synergies to be achieved between the vehicles in the Volkswagen Passenger Cars, Volkswagen Commercial Vehicles, Audi, Seat and Škoda brands.
MPV
Multi Purpose Vehicle
Rating
Systematic evaluation of companies in terms of their credit quality. Ratings are expressed by means of rating classes, which are defined differently by the individual rating agencies.
Recuperation
The recovery of kinetic energy by using an electric motor as a generator, for example in the drivetrain.
Semi-knocked down (SKD)
Variable vehicle delivery method; generally, the vehicle is drivable and waterproof, but lacks interior fittings and external attachments.
SUV
Sports Utility Vehicle
Turntable concept
Concept of flexible manufacturing enabling the production of different models in variable daily volumes within a single plant, as well as offering the facility to vary daily production volumes of one model between two or more plants.
Value drivers
Factors and measures that determine the earnings and value of a company. The efficiency of a company’s value drivers can be measured by means of financial and non-financial performance indicators.
Vocational groups
For example electronics, logistics, marketing, or finance. A new teaching and learning culture is gradually being established by promoting training in the vocational groups. The specialists are actively involved in the teaching process by passing on their skills and knowledge to their colleagues.
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