Unit 3 Business Vocabulary
3. Business Vocabulary
Learning Objectives
After reading this chapter, you should be able to
- 👉 know the importance of business vocabulary
👉 learn how to use business vocabulary, such as business-specific terminologies, idioms and expressions, and vocabulary for various communication situations
- 👉 adopt a variety of ways to improve business vocabulary
IMPORTANCE OF BUSINESS VOCABULARY
Vocabulary is the body of words used in a particular language. Business vocabulary refers to words, phrases, and terminologies that are specific to business and trade. Not knowing appropriate vocabulary can be embarrassing in business as well as in other professions. Good vocabulary means good communication that potentially contributes to better job performance and productivity. It can lead to career advancement, increase in salary and promotion in job. It raises interpersonal skills, self- confidence and job satisfaction.
It is a wise decision to invest some of your time and resources in improving your business vocabulary. Studies have shown that people with better vocabulary hold higher positions and earn more than those who have poor vocabulary. Fortunately, vocabulary can be acquired and improved through practice.
BUSINESS VOCABULARY IN USE
Although simple, clear and concrete writing avoids clichés, jargons and slangs, it cannot avoid business- specific vocabulary to communicate effectively. Appropriate vocabulary helps to make the language precise, accurate and strong. It also makes the language relevant to the subject matter. In this section, we offer examples of business-specific terminologies, idioms and expressions, and vocabulary in speaking situations.
BUSINESS-SPECIFIC TERMINOLOGIES
The following are samples of vocabulary items in specific areas of business and commerce:
Advertising terms
§ Ad: abbreviation for advertisement, item of publicity for a product or service, in magazine, on TV etc.
§ Benefit: advantage of a product or service, usually derived from its features
§ Circulation: average number of copies of a newspaper or magazine sold in a particular period
§ Classified ads: small advertisements in a magazine or newspaper categorized by subject
§ Commercial: paid advertisement on radio or TV
§ Double-page spread: advertisement printed across 2 pages in a magazine or newspaper
§ Poster: large sheet of paper, usually illustrated, used as advertisement
§ prime time: hours on radio and TV with largest audience, especially, the evening hours
§ Promote: to (try to) increase sales of a product by publicizing and advertising it
§ Signboard: hoarding board, usually outdoors, for advertising posters
§ Slot: specific time in a broadcasting
§ Slot: specific time in a broadcasting schedule, when a commercial may be shown.
§ Target: objective; what one is aiming at
Banking terms
§ Balance: the difference between credits and debits in an account
§ Branch: local office or bureau of a bank
§ Check: written order to a bank to pay the stated sum from one's account
§ Check book: book containing detachable checks
§ Credit card: card from a bank authorizing the purchasing of goods on credit
§ Credit: money in a bank account; sum added to a bank account; money lent by a bank
§ Current account: bank account from which money may be drawn at any time such as a checking account
§ Debit: a sum deducted from a bank account, as for a check
§ Deposit account: bank account on which interest is paid; savings account
§ Fill in: to fill out or to add written information to a document to make it complete
§ Interest: money paid for the use of money lent
§ Loan: money lent by a bank etc. and that must be repaid with interest
§ Overdraft: deficit in a bank account caused by withdrawing more money than is paid in
§ Payee: person to whom money is paid
§ Statement: a record of transactions in a bank account
§ Withdraw: to take money out of a bank account
Contract terms
§ Agreement: an arrangement between two or more people, countries etc. such as a contract
§ Appendix: additional or supplementary material at the end of a contract, or a book, etc.
§ Arbitration: settlement of a dispute by a person chosen by both parties
§ Article: a particular statement or stipulation in a contract etc.; clause
§ Clause: a particular statement or stipulation in a contract etc.; article
§ Condition: anything necessary before the performance of something else
§ Force majeure: superior, power; unforeseeable event excusing one party from fulfilling a contract
§ Fulfill: to satisfy a condition; to complete the required task; to fulfill
§ Herein: in here; in this (document etc.)
§ Hereinafter: in the following part (of this document etc.)
§ Hereto: to this (document etc.) Ex: attached hereto
§ Heretofore: up until now; until the present; before this
§ In behalf of: in the interests of (person etc.); for (person etc.); on behalf of
§ Null and void: invalid; without legal force; not binding
§ Party: the person or persons forming one side of an agreement
§ Stipulate: to specify as an essential condition
§ Warrant: to give formal assurance; to guarantee
§ Whereas: it being the case that; in view of the fact that (this is usually included in introduction of contracts)
Employment terms
· Bonus: additional pay given to employee as incentive or reward
· Dismiss: to remove or discharge from employment; to sack; to fire
· Employee: person employed
· Employer: person or firm who employs people
· Interview: an oral examination of an applicant for a job
· Make redundant: to dismiss because of not being needed
· Maternity leave: period of absence from work (for a woman) when having a baby
· Notice: advance warning of intention to resign
· Perk: perquisite; something additional to regular salary (ex: free meals; a car)
· Personnel officer: manager responsible for recruitment, training and welfare of personnel
· Personnel: the people who work for a firm
· Promotion: advancement in rank or position
· Prospects: opportunity for success, promotion etc.
· Recruit: to look for and employ personnel
· Resign: to give up a job.
· Résumé: short account of one's education, career etc.; curriculum vitae or CV (in the UK)
· Retire: to leave employment, especially because of age
· Salary: a fixed, regular payment, usually monthly, made by employer to employee
· Staff: the people who work for a firm or a particular department; employees
· Take on: to employ; to hire
Import/export terms
§ Bill of lading: list of goods and shipping instructions; waybill
§ Cargo: goods or products that are being transported or shipped
§ Certificate of origin: a document that shows where goods come from
§ Container: huge box to hold goods for transport
§ Customs: government tax or duty on imported goods; the people who collect this tax
§ Declare: to make a statement of taxable goods
§ Freight: goods being transported; cargo
§ Irrevocable: that which cannot be undone; unalterable
§ Letter of credit: a letter from a bank authorizing a person to draw money from another bank
§ Merchandise: things bought and sold; commodities; wares
§ Packing list: a document that is sent with goods to show that they have been checked
§ Pro forma invoice: an invoice or request for payment sent in advance of goods supplied
§ Quay: a solid, artificial landing place for (un) loading ships; wharf
§ Ship: to send or transport by land, sea or air
§ Shipment: goods sent or transported by land, sea or air.
§ Shipping agent: a person acting for or representing a ship or ships at a port
§ Waybill: list of goods and shipping instructions; bill of lading
Insurance terms
§ Actuary: a person who calculates risks for insurance companies
§ Assessor: a person who calculates the value of something (ex: a building, car etc.)
§ Claim: an application for payment under an insurance policy
§ Comprehensive: (of an insurance policy) all-inclusive: providing complete protection
§ Consequential loss: A loss that happens as a consequence of or as a result of another
§ Cover: the protection given by an insurance policy (ex: public liability cover)
§ Employer’s liability: liability or responsibility of a firm for damage caused to one of its employees
§ Goods in transit: Property, merchandise or any goods in the process of being transported
§ Insurance broker: agent who arranges insurance, between insurer and policyholder
§ Liability: the state of being liable, anything for which a person is liable
§ Liable: legally obliged to pay for damage, injury etc.; responsible
§ Loss: death, injury, damage etc. that is the basis for a claim
§ Policyholder: the person to whom an insurance policy is issued
§ Premium: a payment, usually monthly, yearly etc., for an insurance policy
§ Product liability: liability or responsibility of a firm for damage caused by one of its products
§ Public liability: responsibility of a firm for damage caused to a member of the public
§ Reinsurance: the insuring of a risk by one insurance company with another
§ Risk chance or possibility of injury, loss etc., person or thing causing risk
Business law terms
§ Attorney: a person appointed to act for or represent another, lawyer
§ Brief: written statement of facts for a court
§ Case: statement of the facts in a trial
§ Contract: a formal agreement, usually in writing, between two or more parties
§ Court of law: the place where law cases are heard and decided; court
§ Evidence: information presented to a court to prove or support a point in question
§ Guilty: responsible for wrong: culpable
§ Judge: public official with authority to hear and decide cases in a court of law
§ Jury: a group of people chosen to hear the evidence of a case and give a decision
§ Lawsuit: a trial at court between two private parties
§ Lawyer: a person trained in law and who advises or represents others
§ Plead: to defend a law case, to declare oneself to be guilty or not guilty
§ Sentence: decision of a court, especially as to the punishment, the punishment
§ Solicitor: lawyer advising clients
§ Sue: to start legal action against someone in a court of law
§ Sum up: to summarize and review the evidence of a case
§ Trial: a formal examination of a case in a court of law
§ Verdict: the formal decision or finding of a judge or jury
§ Without prejudice: without detriment or damage to a legal right or claim
Marketing terms
§ Brand : a particular make of product
§ Branded: a product made by a particular company
§ Consumer: the person who buys and uses a product or service
§ Cost: to estimate the price of making a product
§ Develop: to create a new product or improve an existing one
§ Distribution: the delivering of products to end-users, including advertising, storing etc.
§ End-user: the person, customer etc. who is the ultimate user of a product
§ Image: the concept or perception of a firm or product held by the general public
§ Label: small piece of paper, metal etc. on a product giving information about it
§ Launch: to introduce a new product, with publicity etc.
§ Mail order: the selling of goods by post
§ Market research: study of consumers’ needs and preferences, often for a particular product
§ Packaging: the wrapping or container for a product
§ Point of sale: the place where a product is actually sold to the public
§ Product: something made to be sold; merchandise or services
§ Public relations: creation and maintenance of a good public image
§ Registered: registered or officially recorded as a trademark
§ S.W.O.T.: strength, weaknesses, opportunities, threats
§ Sponsor: firm supporting an organization in return for advertising space
§ Total product: the whole product, including name, packaging, instructions, reliability, after-sales, etc.
§ Trademark: special symbol, design, word etc. used to represent a product or firm
Terms related to meetings
§ A.G.M. : Annual General Meeting
§ A.O.B. : Any Other Business (usually the last item on an agenda)
§ Absent: not here; not at the meeting; not present
§ Agenda: a written program or schedule for a meeting
§ Apologies: item on agenda announcing people who are absent; apologies for absence
§ Ballot: a type of vote, usually in writing and usually secret
§ Casting vote: a deciding vote (usually by the chairman) when the votes are otherwise equal
§ Chairman: the person who leads or presides at a meeting chairperson; chair
§ Conference call: telephone call between three or more people in different locations
§ Conference: formal meeting for discussion, especially a regular one held by an organization
§ Consensus: general agreement
§ Decision: a conclusion or resolution to do something
§ Item: a separate point for discussion as listed on an agenda
§ Matters arising: item on agenda for discussion of what has happened as a result of last meeting
§ inutes: a written record of everything said at a meeting
§ Proxy vote: a vote cast by one person for or in place of another
§ Show of hands: raised hands to express an opinion in a vote
§ Unanimous: in complete agreement; united in opinion
§ Videoconference: conference of people in different locations linked by satellite, TV etc.
§ Vote: to express opinion in a group by voice or hand etc.
Terms related to money
§ A.T.M.: Automated Teller Machine (in the US); cash dispenser (in the UK)
§ Banknote: a piece of paper money; bill (in the US)
§ Black market: illegal traffic in officially controlled commodities such as foreign currency
§ Cash: coins or bank notes (not checks); actual money paid as opposed to credit
§ Cashier: person dealing with cash transactions in a bank, store etc.
§ Coin: a piece of metal money
§ Currency: the money in general use or circulation in any country
§ Debt: money owed by one person to another
§ Exchange rate: the rate at which one currency can be exchanged for another
§ Foreign exchange: the currency of other countries
§ Hard currency: currency that will probably not fall in value and is readily accepted
§ Invest: to put money for profit into business, land etc.
§ Legal tender: currency that cannot legally be refused in payment of a debt
§ Petty cash: a cash fund for small, everyday expenses
§ Soft currency: currency that will probably fall in value and is not readily accepted.
§ Speculate: risky buying of foreign currency, land etc. for rapid gain
§ Transaction: commercial exchange; a deal
Terms related to presentations
§ Body language: non-verbal communication through facial expressions, body movements
§ Finally… : typical word used to signal the last of several points or subjects
§ Flip chart: a pad of large paper sheets on a stand for presenting information
§ For example…: typical phrase used to signal an illustration or sample of a particular point
§ Handout: anything (report, sample etc.) handed or given to people at a presentation
§ In conclusion…: typical phrase used to signal the summing up or final part of a presentation
§ Ladies and gentlemen: polite phrase often used to address an audience of men and women
§ Marker: a pen with a broad, felt tip for writing on whiteboards
§ Microphone: electrical instrument that one speaks into for amplification of the voice etc.
§ Pointer: device (rod or electric torch etc.) for indicating things on a map, screen etc.
§ Rapport: relationship of presenter with audience
§ Screen: large, flat, reflective white surface on which films, slides etc. are projected
§ Signal: a sign to help the audience understand where one is in a presentation
§ Slide: small (usually 35 mm) photographic transparency
§ To start with… : typical phrase used to signal the beginning of a particular subject or topic
§ Turning now to… : Typical phrase used to signal a change from one subject or topic to another
§ Visual aids: things that one can look at in a presentation (ex: films, maps, charts etc.)
§ Whiteboard: large, flat, white surface or board on which to write or draw with markers
Sales terms
§ Buyer: any person who buys anything; a person employed by a firm to buy
§ Client: a person who buys services from a lawyer, architect or other professionals
§ Close: to finalize a deal or sale; to make a sale
§ Cold call: to telephone a prospect without previous contact
§ Customer: a person who buys goods or services from a shop or business
§ Deal: a business transaction
§ Discount: a reduction in the price; a deduction, usually expressed as a percentage (%)
§ Follow up: to continue to follow; to maintain contact
§ Guarantee: a promise that a product will be repaired or replaced, if faulty
§ In bulk: in large quantity, usually at a lower price
§ Lead: useful indication of a possible customer to be followed up
§ Objection: a reason given by a prospect for not buying
§ Overcome: to overcome an objection; to show an objection is invalid
§ Product: something made and usually for sale
§ Prospect: a possible or probable customer; prospective customer
§ Representative or sales representative: person who represents and sells for a firm; salesperson
§ Retail: to sell in small quantities (as in a shop to the public)
§ Service: work done usually in return for payment
§ Wholesale: to sell in bulk (as to a shop for resale to the public)
Terms related to organizational structures
§ A.G.M.: Annual General Meeting of a company’s shareholders board of directors
§ Accounts Department: department responsible for administering a company’s financial affairs
§ Chairman: person who heads a Board of Directors; head of a company: chairperson
§ Director: a member of the board of directors
§ Executive officer: person who manages the affairs of a corporation
§ Headquarters: a company’s principal or main office or center of control
§ Manager: person responsible for day-to-day running of a department; executive officer
General Manager
I. Functional Manager
II. Project Manager
§ Managing Director: senior director after the chairperson responsible for day-to-day direction of a company
§ Marketing Dept.: Department responsible for putting goods on market, packaging, advertising etc. Organization chart: a table or plan showing company’s a structure graphically
§ Personnel Dept.: department responsible for recruitment and welfare of staff or employees
§ President: the highest executive officer of a company; head of a company
§ Production Dept.: department responsible for physical creation of product
§ Purchasing Dept.: department responsible for finding and buying everything needed by a company
§ R & D Department: department responsible for Research and Development of (new) products
§ Reception: the place where visitors and clients report on arrival at a company
§ Sales Department: department responsible for finding customers and making sales
§ Shareholder: person who holds or owns shares in or a part of a company or corporation
§ Vice President: any of several executive officers, each responsible for a separate division
BUSINESS IDIOMS AND EXPRESSIONS
An idiom is a popular word or phrase that is particular to a certain person or group of people. An idiom’s meaning is different from its literal meaning. For example: ‘back to square one’ means “to start all over again”. “To kick the bucket’ does not mean what it seems to mean; its actual meaning is ‘to die’. An idiom is like a slang term. Only if you are familiar with the term, you will know its meaning. Idioms remain stable and their meanings don’t change easily. They are influenced by culture or geographic locations.
An expression, on the other hand, refers to the way we express something not just through words but also through facial features and body language. It is a particular word, phrase, or form of word that is often familiar, such as a proverb or a metaphor. For example, we use ‘screw up’ to refer to a mistake. An expression helps to phrase an idea in a particular way, and it may include idioms. Its meaning is literal as intended by the speaker or user. In business, it is important to use idioms and expressions that are familiar to the users and audience. They help avoid any misunderstandings that may occur in language use.
Be selective and specific in the use of idioms or expressions otherwise they can create confusion or misunderstanding. The following is a list of common business idioms and expressions:
§ A long haul: the long road; the option that takes the most time
§ A long shot: something that will probably not succeed but is worth trying
§ A rule of thumb: a personal principle
§ Ahead of the curve: doing better than expected
§ Ahead of the game: successful
§ At a premium: at a high price; at a relatively high price
§ Back-of-the-envelope calculations: quick calculations; estimates using approximate numbers, instead of exact numbers
§ Ball rolling: a situation in which everyone participating came out on top; everyone won or got what they wanted
§ Be in hot water: to be in trouble
§ Be in the dark / keep somebody in the dark: to be uninformed; to not know what’s happening
§ Be in the red: at a deficit; running at a loss; losing money
§ Be on the same wavelength: to think in a similar way to others
§ Belt-tightening: reduction of expenses
§ Bent over backwards: try hard to please; go out of the way
§ Between a rock and a hard place: a dilemma; two possibilities that are not good
§ Bite the bullet: to make a difficult or painful decision; to take a difficult step
§ Bitter pill to swallow: bad news; something unpleasant to accept
§ Blockbuster: a big success; a huge hit
§ Brownie points: credit for doing a good deed or for giving someone a compliment (usually a boss or teacher)
§ Blow you away: affect intensely; overwhelm
§ Breathe down somebody’s neck: to make someone feel uncomfortable by watching them very closely
§ Bummed out: tired out or stressed out
§ Burn out (rate): physical or mental exhaustion
§ Burn your bridges: ruin a relationship, resulting in you being unable to return somewhere
§ Call it a day: expression used near the end of a day that means “That’s enough for today. Let’s end and go home.”
§ Call the shots: to make the decisions
§ Cash cow: a product, service, or business division that generates a lot of cash for the company, without requiring much investment
§ Cash in on: to make money on; to benefit financially from
§ Climb the corporate ladder: advance in one's career; the process of getting promoted and making it to senior management
§ Climb to the top of the career/corporate ladder: to ascend in a company by being promoted from lower positions to higher ones
§ Come under fire: getting public criticism (getting shot at with criticism)
§ Compare apples to oranges: to compare two unlike things: to make an invalid comparison
§ Crunch the numbers: do the accounting or financial calculations
§ Crunch time: a short period when there's high pressure to achieve a result
§ Dog-eat-dog world: a cruel and aggressive world in which people just look out for themselves
§ Cut corners: do something the cheapest or easiest way
§ Cut to the chase: to focus on what's important
§ Cutting it close: doing something risky or at last minute (as if you were cutting vegetables and the knife is too close to your finger)
§ Dot your i's and cross your t's: to be very careful; to pay attention to details
§ Drop the ball: to fail to do your job or to do well
§ Drum up business: to create business; to find new customers
§ Ducks in a row: having/getting things in order (from the fly-formation of ducks)
§ Face the music: to admit that there’s a problem; to deal with an unpleasant situation realistically
§ Fall through the cracks: to be forgotten; to fail Fast track a project: to make a project a high priority; to speed up the time frame of a project
§ For the record: a very neutral way of stating an opinion. (personal emotion/intent to act are not being expressed)
§ FYI: pronounced “F-Y-1,” acronym for “for your information”
§ Game plan: the strategy of reaching an objective
§ Generate lots of buzz: to cause many people to start talking about a product or service, usually in a positive way that increases sales
§ Get a pink slip: get laid off (originates from use of carbon. Copies)
§ Get a reality check: realize how something really is (as) opposed to how you might imagine it)
§ Get the bugs out: find the mistakes or prevent problems Get your foot in the door: to complete the first step towards achieving an opportunity
§ Get/be given the sack/sack (verb): to be fired
§ Give a rain check: change a meeting time to another day to be decided later
§ Give and take: free flowing of ideas and conversation; making a deal by trading
§ Give somebody free rein: to give someone free control of something
§ Glass ceiling: a metaphor for a barrier that prevents people, typically women or minorities, from ascending to high positions
§ Go bust: to lose all your money Go down swinging: keep trying until the end
§ Go for broke: wagering everything Hand in hand: together; along with
§ Handful of players: a few who are competing in an industry Hands are tied: a person can do nothing
§ Hard sell: an aggressive way of selling
§ Have a lot on one's plate: to have a lot to do; to have too much to do; to have too much to cope with
§ Have your work cut out: expression that means one has a lot of work to do in a short period of time
§ Headhunt: a recruitment effort
§ Hold your horses: to slow down and wait or move slowly
§ In the black: become profitable, as opposed to being "in the red"
§ In the office loop: understand what's happening
§ In the pink: having a lot of money (most probably from 15th century when pink meant perfection)
§ Jump the gun: to start doing something too soon or ahead of everybody else
§ Jump through hoops: to go through a lot of difficult work for something; to face many bureaucratic obstacles
§ Keep one's eye on the prize: to stay focused on the end result, to not let small problems get in the way of good results
§ Keep pace: continue on
§ Keep something under wraps: to keep something secret; to not let anybody know about a new project or plan
§ Kickback: rest and enjoy your time
§ Know the ropes: have knowledge of
§ Know/learn the rope: the process of learning about something so you are comfortable with it.
§ Land on your feet: to do well; to succeed
§ Line of work: job field; type of work
§ Make a bundle: make a lot of money
§ Make the rounds; at a social event, to talk to everyone or most people
§ Meeting someone halfway: compromise
§ Miss the boat: miss an opportunity
§ Multi-task: do many things at once
§ Mum's the word: let's keep quiet about this; I agree not to tell anyone about this
§ My gut tells me: I have a strong feeling that; my intuition tells me
§ Need a crash course: need to learn very quickly, often to meet a deadline (also take a crash course)
§ Not set in stone: not finalized, able to be changed nothing ventured, nothing gained: If you don't try to do something, you'll never succeed.
§ On the back burner: set as a lower priority
§ On the ball: to be alert and aware
§ On the other hand: an opposite way to think about something or perceive something
§ On the right track: to continue on the right path or process
§ On the same page: have the same understanding or knowledge
§ On top of trends: modern; aware and responding to the latest tastes
§ Pass the buck: to shift the blame; to blame somebody else
§ Pick somebody's brains: to ask someone many questions so you can learn from him/her
§ Play it by ear: decide to deal with something how it happens rather than planning
§ Plug (a product): to promote a product; to talk positively about a product
§ Pull one's weight: to do one's share of the work
§ Pull the plug: to put a stop to a project or initiative, usually because it's not going well; to stop something from moving forward; to discontinue
§ Punch to the gut: give it all you've got
§ Put a stake in the ground: to take the first step; to make a big move to get something started; to make a commitment
§ Put something on hold: to postpone something
§ Raise the bar: to raise standards or expectations
§ Rally the troops: to motivate others; to get other people excited about doing something: to do something to improve the morale of your employees and get them energized about doing some work
§ Reality check: Thinking realistically about a situation
§ Red tape: bureaucracy; formal rules that usually make something hard to do
§ Same boat: in the same situation
§ Screw up: not doing well; a mistake
§ See eye to eye: to agree on something; to have the same views on something
§ Set the record straight: to clarify what is true/factual about something
§ Shape up or ship out: improve your behavior or leave; if you don't improve your performance, you're going to get fired
§ Shooting the breeze: talking casually without purpose
§ Shot (shoot) from the hip: spontaneous, spur of the moment reaction or decision
§ Slack off/ be a slacker: to work unproductively and lazily
§ Small talk: discussion about light topics such as the weather
§ Start/get the ball rolling: to take the first step to begin a process
§ Start-up: a new business aimed at new markets
§ Stay on top of things: learn and know about latest happenings
§ Stay on your toes: pay attention and be aware
§ Take a rain check: accept changing a meeting to another day, the new day to be chosen later
§ Take all the credit: take or claim all the recognition for something
§ Take off: move ahead and perform well
§ Take the bull by the horns: to confront a problem head on
§ Talk shop: talking about work-related things
§ The ball is in your court: used to say that you now have control of the situation
§ The bottom line: the final result
§ The fine/small print: the information typed in a smaller font, usually on a contract
§ Think out of the box: to think differently from a new perspective
§ Through the roof: very high; higher than expected
§ Throw cold water over (an idea, a plan): to present reasons why something will not work; to discourage
§ To be swamped: to have too much work to do
§ Trade-off: to lose something in return of gaining something
§ Troubleshoot: solve problems
§ Turn around one’s business: to make a business profitable again; to go from not making profits to being profitable again
§ Twist somebody’s arm: to make a great effort to convince somebody to do something for you
§ Up to speed: to be updated; to not be behind; to have all the current information
§ Up-and-coming: young and rising to the top; new and becoming successful
§ Water over the bridge: something that has happened and can’t be changed
§ Win-win situation: a situation in which everyone participating come out on top; everyone wins or gets what they want
§ Work down to the wire: to work until the last minute; to work until just before the deadline
§ Yes man: an employee who always agrees with the boss or does whatever the boss asks him or her to do
§ You can’t have your cake and eat it, too: you can’t have it both ways; you can’t have the best of both worlds
MID-CHAPTER REVIEW AND EXERCISES
Key Points
Ø Business vocabulary refers to words, phrases, and terminologies
Ø
That are specific to business and trade.
Ø Vocabulary is important because it contributes to better job performance and productivity. It can lead to your career advancement, increase in salary and promotion in job. It raises interpersonal skills, self-confidence and job satisfaction
Ø Appropriate vocabulary helps to make the language precise, accurate and strong. It also makes the language relevant to the subject matter.
Ø Business-specific terminologies cover wide areas of business, including advertising, banking, contracting, employment, import and exports, insurance, business law, marketing. Meetings, money, presentations, sales, and organizational structures.
Ø An Idiom is a popular word or phrase that is particular to a certain person or group of people. It says something but means something. One must be familiar with an idiom to know its meaning. An expression refers to the way we express something. Its meaning is literal as intended by the speaker or user.
Key Terms
Advertising terms Business law terms Employment terms Idioms
Insurance terms Marketing terms Terminology Banking terms
Contracts terms Expression Import or export terms Literal meaning
Sales terms Terms related to meetings Terms related to money
Terms related to presentations Terms related to organizational structures
Vocabulary
Short Answer Questions
1. What is business vocabulary?
2. What are the benefits of good business vocabulary?
3. Differentiate between and idiom and an expression.
Discussion Questions
1. People with better vocabulary hold higher positions and earn more than those who have poor vocabulary”. Explain how.
3. Find out two new vocabularies for each of these topics: advertising, banking, contracting, employment. Import and exports, insurance, business law, marketing, meetings, money. Presentations, sales and organizational structures. Discuss what they mean.
4. The authors in this chapter say idioms and expressions are shaped by culture. Identify two idioms and two expressions related to business that are specific to Nepali culture. Discuss what they mean.
Critical Thinking
1. Read each of the terminologies as well as idioms and expressions in this chapter. Identify the ones that you think you don’t understand. Consult a dictionary and find the meaning for each of them. Create sentences using each terminology. Idiom and expression.
Independent Challenge
Read the business section of a newspaper or a magazine. Identify five business idioms or expressions. Use them in your own sentences.
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