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Business Word/Phrase of the Day

word-phrase-descEvery day we publish a business word or phrase together with audio pronunciation, phonetics, definition and example sentences. This is a great way to improve your workplace vocabulary as well as your pronunciation. To receive 'Business Word/Phrase of the Day' by email, just subscribe to our newsletter from the link above. 

TO TAKE A CALCULATED RISK /tu; teɪk eɪ kælkyəˌleɪtɪd rɪsk/

30 Apr 2024

phrase

  • If you take a calculated risk, you take a chance, but you know exactly what will happen if you fail.
Example Sentences: Yes, it is possible we may lose this deal, but it is a calculated risk we are willing to take.
Mr. Gardner knows we're taking a calculated risk in this case, but he believes the rewards are too good to not take it.
 

LETTER OF CREDIT /ˈbɛt ər ʌv ˈkrɛd ɪt/

30 Mar 2024

phrase

  • A Letter of Credit or L/C is a binding document that a buyer can request from his bank in order to guarantee that the payment for goods will be transferred to the seller. Basically, a letter of credit gives the seller reassurance that he will receive the payment for the goods. In order for the payment to occur, the seller has to present the bank with the necessary shipping documents confirming the delivery of goods within a given time frame. It is often used in international trade to eliminate risks such as unfamiliarity with the foreign country, customs, or political instability.
Example Sentences:We never release a shipment until a letter of credit has been issued.
The buyer applies to the bank for a letter of credit to be issued.
 

SAFARI səˈfɑri

30 Jan 2024

Noun

  • a trip or expedition to see animals in their natural environment.
Example Sentence: My friend just returned from a safari in Kenya. She said that she saw lions, giraffes and tigers.

 

 

CHAIN tʃeɪn

30 Dec 2023

Noun

  • many shops that are run under the same name, brand & owner.
Example Sentence: The supermarket chain is opening a new store in the town.
 

UNIT COST yunɪt kɔst

30 Oct 2023

Noun

  • the cost of producing one item of a product.
Example Sentence: The unit cost of the product is just $2.
 

COLD-CALL koʊld kɔl

30 Sep 2023

Noun

  • to call somebody to try to sell something without permission or warning.
Example Sentence: I hate it when people cold-call to sell me things.
 

POINT OF SALE  

30 Aug 2023

Noun

  • the exact place where a product is sold.
Example Sentence: The shop has put up new point of sale display boards around the till.
 

CONSORTIUM kənˈsɔrʃiəm

30 Jul 2023

Noun

  • a group of companies that cooperate and share resources.
Example Sentence: The company is part of an international consortium.
 

CARRY ON kæri ɒn

30 Jun 2023

Phrasal Verb

  • continue.
Example Sentence: I'll carry on doing this while you are gone.
 

GIVE IN gɪv ɪn

30 May 2023

Phrasal Verb

  • finally agree.
Example Sentence: He nagged me so much to buy him a new bike that eventually I just gave in.
 

SURGE sɜrdʒ

30 Apr 2023

Noun

  • a sudden increase in the amount of something.
Example Sentence: There's been a recent surge of interest in the product.
 

DIVISION dɪˈvɪʒən

30 Mar 2023

Noun

  • a part of an organisation.
Example Sentence: She heads the company's worldwide sales division.
 

IN THE LOOP  

30 Dec 2022

Phrase

  • to be involved or to take part in a job.
Example Sentence: I began to work in the evenings and I was no longer in the loop at our company.
 

TO BUY A STAKE IN (SOMETHING)  

30 Nov 2022

Phrase

  • to buy part ownership of a company or other enterprise.
Example Sentence: The large bank is planning to buy a stake in the small stock trading company.
 

CLINCH klɪntʃ

30 Oct 2022

Verb

  • to successfully close a difficult business deal.
Example Sentence: After 5 hours of negotiating, they finally clinched a deal.
 
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