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Business English Glossary Vocabulary for final examination Conference: a meeting at which people have formal discussions potential customers Potential customers: people who will buy company’s products in the future Customer’s feedback: advice, criticism or information of buyers about how good or customer feedback useful something is Consumer: consumer a person who buys and uses goods or services Negotiate: negotiave try to reach an agreement by formal discussion salary money that employees receive for doing their job, especially professional Salary: employees or people working in an office, usually paid every month Wage: wagemoney that someone earns according to the number of hours, days, or weeks that they work, especially money that is paid each week Discount: discount an amount of money that is taken off the usual cost of something Trade tradefair: fair an event at which many different companies show and sell their products 10 Enquiry: enquire a request for information about something 11 Qualification: a skill or type of experience that you need for a particular job qualification 12 Motivation: motivation making somebody want to something, especially something that involves hard work and effort survey an investigation of the opinions, behavior, etc of a particular group of people, 13 Survey: which is usually done by asking them questions research a careful study of a subject, especially in order to discover new facts or 14 Research: information about it 15 Profit: profit the money that you make in business or by selling things after paying the costs involved 16 Loss: loss money that has been lost by a business or an organization 17 Revenue: revenue the money that a company receives from its business interest rate 18 Interest rate: money charged to a borrower or paid to an investor, usually expressed as a percentage per annum inflation a general rise in the prices of services and goods in a particular country, 19 Inflation: resulting in a fall in the value of money advertisement a notice, picture or film telling people about product, or service 20 Advertisement: 21 Promotion: promotion activities done in order to increase the sales of a product or service; a set of advertisements for a particular product or service employer a person or company that pays people to work for them 22 Employer: 23 Accountant: accountant a person whose job is to keep or check financial accounts 24 Manufacturer: manufacturer a person or company that produces goods in large quantities supplier a person or company that supplies goods 25 Supplier: 26 Distributor: a person or business responsible for making goods available to customers distributor after they have been produced, either one that sells directly to the public or one that sells to shops, etc 27 Asset: asset a thing of value, especially property, that a person or company owns, which can be used or sold to pay debts 28 debt Debt: a sum of money that somebody owes 29 loan Loan: money that an organization such as a bank lends and somebody borrows sale presentative 30 Sales representative: an employee of a company who travels around a particular area selling the company’s goods to shops, stores, etc 31 Salesperson: sale person a person whose job is to sell goods in a shop, store recruit to find new people to join a company, an organization, etc 32 Recruit: 33.internship Internship: a period of time during which a student or new graduate gets practical experience in a job passport 34 Passport: an official document that identifies you as a citizen of a particular country, and that you may have to show when you enter or leave a country 35 Budget airline: a company that provides cheap flights budget airline 36 Retailer: retailer a person or business that sells goods to the public 37 Wholesaler: wholesaler a person who buys goods in bulk from a producer and then sells them in smaller quantities to retailers or other wholesalers, earning a profit either by charging a commission to the retailer or by adding to the manufacturer’s price headquater a place from which an organization is controlled 38 Headquarters: 39 branch Branch: a local office or shop/store belonging to a large company or organization 40 Subsidiary: subsidiary a business company that is owned or controlled by another larger company 41 Chain store: store that is one of a series of similar shops/stores owned by the same chain store company 42 Warehouse: warehouse a place where large quantities of goods are stored, especially before they are sent to shops, stores to be sold 43 Inventory: inventory the amount of stock, including raw materials, supplies and finished goods that a company has at a particular time exchange rate 44 Exchange rate: price at which one currency may be exchanged for another 45 Cost: cost the amount of money that you need in order to buy, make or something ecommerce the buying and selling of products and services on the internet 46 E-commerce: order a request to make or supply goods 47 Order: 48 Credit card: a small plastic card which can be used as a method of payment, the money credit card being taken from you at a later time cash card 49 Cash card: a special plastic card given to you by a bank that allows you to take money out of your account using a cash machine 50 Glocalization: the idea that companies should think globally, but use methods in each particular place that are suited to it glocalization 51 customize Customize: to make or change something according to the buyer’s or user’s needs 52 Customs: customs the government department responsible for collecting the tax on goods that have been brought into the country and making sure that illegal goods are not imported or exported 53 Tax: an amount of money that you must pay to the government according to your income, property, goods, etc that is used to pay for public services range a set of products of a particular type 54 Range: 55 Differentiate: to make something different from other things diffirential 56 Jump to conclusions: to decide to soon that something is true jump to conclusion AIDA (awareness / attention, interest, desire, action) a description of how 57 AIDA: advertisements for a product should work, by first catching people’s attention and making them interested in the product, and then persuading them to want to buy it 58 Auction: a public event at which things are sold to the person who offers the most money for them Auction 59 Delegation: the process of giving somebody work or responsibilities that would usually delegation be yours 60 Precedent: an official action or decision that has happened in the past and that is seen as an example or a rule to be followed in a similar situation later precedent 61 Appointment: the act of choosing a person for a job or position of responsibility 62 Financial statement: a document showing the state of the finances of an organization or business financial statement 63 Trade barrier (barrier to trade): something that makes trade between two countries more difficult or expensive, for example a tax on imports 64 Celebrity endorsement: when a well-known person says in an advertisement how good they think a product is 65 Stock option: an option given to executive employees allowing them to buy shares in the company at a favourable price 66 Grey marketing: selling products without the authorization of the trademark owner 67 Acquisition: when one company buys another one, or part of another one acquisition 68 Merger: a creation of new company by joining two separate companies merge 69 Subordinate: a person who works under a more senior member of staff 70 Joint-venture: two or more companies make a joint investment in a project without actually merging 71 Stock exchange: a market where company shares are traded 72 Dotcom: a company that does business using the Internet or provides a service on the Internet 73 Tangible asset: an asset that is physical and can be valued easily, rather than an intangible asset that is difficult to value 74 Freelancer: someone who works for different companies and is not employed by one, usually receives fixed payments and not a salary 75 Outsource: transferring work to an outside supplier 76 Diversification: developing a wider range of products in order to be more successful or reduce risk 77 Logistics: the arrangements that are needed for goods, materials, equipment, and people to be in the right place at the right time 78 Intellectual property: something that a person or business has invented and which is protected by patent 79 Pension: a regular payment made for a person after he/she has retired from active work 80 Marketing mix: the four different components of marketing 81 Cost-effective: bringing the best possible advantages in relation to costs 82 Bottom line: the last line on a financial document which shows the final result (total profit once all costs have been deducted) 83 Profit and loss accounts: a financial statement showing revenue, expenditure and profit from operations during a given period 84 Retained earnings: a company’s profit for a particular period of time not paid out in dividends to people owning shares, but put into its reserves 85 Dividend: a part of the profits of a company for a particular period of time that is paid to shareholders for each share that they own