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Comprehensive Business English
Vocabulary Guide
Business English Vocabulary
Chapter 1
Brand loyalty : Loyalty to a particular brand or product. Brand image : The perception of a brand in the minds of consumers. Brand stretching : The extension of a brand's products or services into new and unrelated markets. Brand awareness : How familiar consumers are with the qualities or image of a brand. Brand name : The name given by the maker to a product. Product launch : The introduction of a new product to the market. Product lifecycle : The progression of a product through the four stages of its time on the market (introduction, growth, maturity, decline). Product range : A set of variations on a specific product made to appeal to different market segments. Product placement : The practice of placing a product in a film or TV program for promotional purposes. Product endorsement : The approval of a product by a celebrity or public figure. Market leader : The company selling the largest quantity of a particular product. Market research : The activity of gathering information about consumers' needs and preferences. Market share : The percentage of a market controlled by a particular company or product. Market challenger : A company with a market share below that of the market leader, but enough of a presence to potentially gain more control. Market segment : A group of people who share one or more common characteristics, grouped together for marketing purposes.
Chapter 2
Underground/Subway : A system of underground railways. City centre/Downtown : The central part of a city. Hand luggage/Carry-on baggage : Luggage that a passenger carries with them on a journey. Single/One way : A ticket for a journey in one direction only. Return/Round trip : A ticket for a journey in both directions. Motorway/Freeway : A high-speed road for motor vehicles. Public toilet/Rest room : A toilet available for public use.
Lift/Elevator : A platform or compartment housed in a shaft for raising and lowering people or things to different floors or levels. Economy class/Coach class : The class of travel on a plane, train, or bus that is the least expensive. Timetable/Schedule : A plan showing the times at which something is scheduled to arrive and depart. Car park/Parking lot : An area of land set aside for parking vehicles. Queue/Line : A line of people or vehicles waiting their turn. Bill/Check : The written record of money owed for goods or services. Booking/Reservation : An arrangement to have something, such as a seat or room, held for one's use at a specified time. Ground floor/First floor : The floor of a building that is level with or nearest to the ground.
Chapter 3
Downgrade : To reduce to a lower grade, rank, or level of importance. Downsize : To make a company's size smaller by shedding staff. Decentralise : To transfer authority from central to local government. Deregulate : To remove regulations or restrictions. Update : To make something more modern. Upgrade : To raise something to a higher standard. Reorganize : To change the way in which something is organized. Reassess : To consider or assess again, in the light of new or different factors. Redevelop : To develop something again or differently. Relaunch : To launch something again or in a different form. Relocate : To move to a new place and establish a business there. Restructure : To organize differently, by bringing about a drastic or fundamental change. Retrain : To learn new skills in order to do a different job.
Chapter 4
Subsidiary : A company controlled by a holding company. Factory : A building where goods are manufactured. Call centre : An office in which large numbers of calls are handled. Service centre : An organizational unit which provides a specific service or product. Headquarters : The office serving as the managerial and administrative centre of an organization. Distribution centre : A warehouse or other specialized building stocked with products to be redistributed to retailers. Warehouse : A large building where raw materials are manufactured or finished goods are stored. Outlet : A place where goods are sold.
Double : To become twice as much. Fluctuate : To rise and fall regularly in number or amount. Gain/Increase/Improve/Rise : To become greater in size, amount or degree. Halve : To divide into 2 parts. Level off : To stop increasing or being reduced. Plummet : To drop down at high speed. Triple : To become 3 times as much.
Chapter 7 (Idioms)
Thrown in at the deep-end : Someone who has to do a difficult job with no preparation. Fish out of water : A person away from his/her usual environment or activities. We don't see eye to eye : To not share an opinion with someone. A real eye-opener : Something that surprises you and teaches you new facts about life, people. Break the ice : To make people who don't know each other feel more comfortable. Get into hot water : To get into a difficult situation in which you are in danger of being criticized.
Chapter 8
Application form : A form that you complete in order to apply for a job, a place on a course, or to get something such as a loan or licence. Probationary period : A period of time when you are new to a job and are being tested to see if you are suitable. Psychometric test : A test designed to show someone's personality/ mental abilities. Interview : A meeting in which someone asks you questions to see if you are suitable for a job. Covering letter : A letter sent with another document (CV), to explain personal skills and experience in deeper details. To train new staff : To teach specific knowledge or skills to new employees. To shortlist the candidates : To select the suitable people for a job among all of the candidates. To advertise a vacancy : To announce (on a newspaper, online etc) about a job that people can apply for. To assemble an interview panel : To create a group of people who ask someone questions at an interview. To make a job offer : To make an invitation for someone to become an employee of the company. To check references : To contact a job applicant's previous employers (and other sources) to learn more about him and his qualifications for the job.
Chapter 9
Barriers : A series of obstacles that a manufacturer needs to overcome to engage in commercial transactions. Open border : A border that enables free movement of people. Free port : A port open to all traders. Developing industries : Industries that are in the process of growth and expansion. Dumping : Exporting goods at prices lower than the home-market prices, so that the national companies cannot compete fairly. Tariff : A tax or duty to be paid on a particular class of imports or exports. Strategic industry : An industry that a government considers to be very important for the country's economy or safety. Restriction : A limiting condition or measure. Quota : A limit of the quantity or price of something. Laissez-faire : The idea that businesses should be free to develop without the involvement or control of government. Liberalise : To remove or loosen restrictions. Customs : The place where officials check incoming goods, travellers or luggage. Subsidise : To support financially. Regulation : A rule or directive made and maintained by an authority.
Chapter 10
Corruption : Dishonest or fraudulent conduct by those in power, typically involving bribery (giving/offering of a bribe = a sum of money given to corrupt someone). Price fixing : The practice in which rival companies come to an illicit agreement not to sell goods/services under a certain price. Environmental pollution : The release of chemical waste that causes detrimental effects on the environment. Sex discrimination : Discrimination in employment and opportunity against a person (typically a woman) on grounds of sex. Insider trading : The illegal practice of trading on the stock exchange to one's own advantage through having access to confidential information. Tax fraud : When an individual or company falsifies information on a tax return in order to limit the amount of tax liability. Counterfeit goods : Fake items deliberately made to look genuine. Money laundering : The process of making large amounts of money generated by a criminal activity and making the money look "clean". Animal testing : The use of animals in scientific research. Industrial espionage : The action of spying in order to discover the secrets of a rival manufacturer or other industrial company.
Chapter 11
Assertive - Diffident : Assertive - Diffident Cautious - Decisive : Cautious - Decisive
Bottom line : The final line of a financial document, which states the profit (subtracted all costs). Campaign : A series of operations intended to achieve a goal. Chairman : A person chosen to preside over a meeting. Chief : The leader/ruler of a business. Company : A commercial business (a joint stock company = a company which has public shares on the financial market; a public limited company = whose shares are exchanged on the financial market). Compensation : Something, usually money, awarded to someone in recognition of loss, suffering or injury. Consortium : An association of companies which aim to realize a project together. Correspondence : Communication by exchanging letters. Cover letter : A letter which is usually sent with the CV, which provides detailed information about personal skills and experience. CV : A brief written account of personal details, education, work experience, usually used for applying for a job. Dealer : A person who buys and sells goods/services. Debt relief : Partial or total remission of debt, especially those owed by developing countries to external creditors. To defraud : To illegally obtain money from someone by deception.
Business and Economics Terminology
Delegate
A delegate is a person authorized to represent others, particularly an elected representative sent to a conference.
Downsize
Downsizing refers to the process of making a company smaller by shedding staff.
Employment
Employment is the state of having paid work.
Enforce
To enforce means to force or oblige someone to do something.
Entrepreneur
An entrepreneur is a person who sets up a business, taking on financial risks in the hope of profit.
Fair Trade
Fair trade is a trade between companies in developed countries and producers in developing countries in which fair prices are paid to the producers.
Finished Goods
Finished goods are goods that have completed the production process and are ready to be sold.
Forecast
A forecast is an estimation of a future situation.
Freelance
A freelance is a self-employed person who works for different companies on particular assignments.
Freight
Freight refers to a group of goods that are transported in bulk by train, truck, ship, or aircraft.
Glitch
A glitch is a temporary malfunction of equipment.
Grant
A grant is a sum of money given by a government or other organization for a particular purpose.
Grey Market
A grey market is an unofficial market in goods that have not been obtained from an official supplier.
Gross
Gross refers to income without deduction of taxes and contributions.
Growth
Growth is the process of increasing in size.
Mass Production
Mass production is the production of standardized items in large quantities, by an automated mechanical process.
Merger
A merger is the creation of a new company by combining two existing companies.
Launch
To launch means to start an activity or enterprise.
Offshoring/Outsourcing
Offshoring/outsourcing is the practice of basing some of a company's services or processes overseas, so as to take advantage of lower costs.
Payroll
A payroll is a complete list of the employees of a company, which specifies the amount of money they are to be paid.
Patent
A patent is a licence conferring a right for a set period, especially the right to exclude others from using an invention.
Pilot Project
A pilot project is an initial small-scale project used to prove the viability of a project idea.
Point of Sale
The point of sale is the place where a retail transaction is carried out.
Premium
A premium is a sum added to an ordinary price in order to get a better quality good or service.
Pressure Group
A pressure group is a group that tries to influence public policy in the interest of a particular cause.
Price Setting
Price setting is the process of defining the price of a good or service.
Product Recall
A product recall is the process in which a manufacturer requests the return of a product, because of safety issues or defects that can endanger the consumers.
Quota
A quota is a limit of price or quantity of something.
Raw Materials
Raw materials are the basic materials from which a product is made.
Real Estate
Real estate refers to property in land or buildings.
Revenues
Revenues are the money obtained by selling goods or services.
SEC
The SEC (Securities and Exchange Commission) is a US government agency responsible for protecting investors and maintaining fair markets.
Severance Deal/Pay
A severance deal or severance pay is the amount paid to an employee on the early termination of a contract.
Share
A share is one of the equal parts into which a company's capital is divided, entitling the owner to a portion of the profits.
Shortage
A shortage is a situation in which something needed is not available in sufficient amounts.
