Business Word/Phrase of the Day

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THE BIG PICTURE  

10 Feb 2020

Phrase

  • The overall situation, e.g. when working on a small aspect of a project it is helpful to remember the project as a whole.
Example Sentence: John, you’re not looking at the big picture. We have to look at where we want to be in 12 months time, not focus on short-term goals.
 

TEAM PLAYER tim pleɪər

09 Feb 2020

Phrase

  • Is someone who is good at working closely with other people.
Example Sentences: ABC Bank Ltd requires a team player committed to quality management.
He is a good team player and works well with all his colleagues.
 

TAKE OWNERSHIP teɪk oʊnərˌʃɪp

08 Feb 2020

Phrase

  • If you are asked to take ownership of something, you need to get serious about a piece of work and be fully responsible for it.
Example Sentence: I think it's up to you to really take ownership of this project – no-one else has the knowledge, skills or time to get fully involved.
 

STATE-OF-THE-ART  

07 Feb 2020

Phrase

  • This phrase is used to describe something which is very modern and uses the most recent ideas and methods
Example Sentence: The control panel uses all the newest technology and is considered state-of-the-art.
 

VENTURE CAPITAL vɛntʃər kæpɪtl

06 Feb 2020

Phrase

  • Money raised by companies to finance new ventures in exchange for percentage ownership.
Example Sentences: Venture capital firms have a reputation for negotiating tough financing terms and setting high demands on target companies.
The company is looking for venture capital investment in order to expand. They're willing to sell 25% of the company for $400,000.
 

STOCK OPTIONS stɒk ɒpʃən

05 Feb 2020

Phrase

  • Are options, usually given to employees, to purchase stock in the company at a future date.
Example Sentence: After working for Microsoft for more than 10 years, I was able to cash in my stock options and retire comfortably at the age of 42.
 

IPO  

04 Feb 2020

Phrase

  • Initial Public Offering (IPO) refers to first sale of stock by a private company to the public.
Example Sentences: Alibabas IPO was 100 times oversubscribed.
There has been a 30% rise in the number of IPOs compared with last year.
 

LIQUIDATION lɪkwɪˈdeɪʃən

03 Feb 2020

Noun

  • This refers to the sale of all the assets of the company.
Example Sentence: The assets of a company that has gone into liquidation are often sold off at an auction.
 

FIXED COSTS fɪkst kɒst

02 Feb 2020

Phrase

  • Are costs that are incurred by the firm whether it produces or not, and that remain constant in amount whether its production volume is large or small.
Example Sentences: Rent, insurance, and salaries of supervisory personnel are common examples of fixed costs.
Or fixed costs are too high, we will need to reduce the number of staff we employ.
 

BURN RATE bɜrn reɪt

01 Feb 2020

Phrase

  • Refers to the amount of money a start-up company spends from month to month (money burnt) in order to survive.
Example Sentences: A burn-rate of $50,000 would mean the company spends $50,000 a month above any incoming cash flow to sustain its business.
Our current burn rate is US$15,000 per month. At this rate, we'll be able to continue operating the business until the end of the year.
 

BAD DEBTS bæd dɛt

31 Jan 2020

Phrase

  • Are funds owing to a business which are determined to be uncollectable.
Example Sentence: If you extend credit to numerous customers, and your experience is that a certain amount of your sales on account will be uncollectable, you should probably set up a reserve for bad debts.
 

APPRAISED VALUE əˈpreɪz vælyu

30 Jan 2020

Phrase

  • Is the value placed on an item, product or business by an appraiser who is recognized for experience in a particular field.
Example Sentence: The appraised value of our business is much higher than we thought. One of our competitors has made enquiries about buying us out.
 

ACCOUNTS RECEIVABLE əˈkaʊnt rɪˈsivəbəl

29 Jan 2020

Phrase

  • This is the amount billed to customers and due from them but not yet collected.
Example Sentence: You must maintain an accounts receivable ledger account for each customer you extend credit to.
 

ACCOUNTS PAYABLE əˈkaʊnt peɪəbəl

28 Jan 2020

Phrase

  • Is the amount that the company has been billed but has not yet paid. This is money owed to its regular business creditors from whom it has bought goods and services.
Example Sentences: You should keep an accounts payable ledger account for each supplier.
Expenses from the cash disbursements journal are, at the end of each day, posted to the appropriate accounts payable ledger.
 

FLOATED /floʊt/

27 Jan 2020

Verb

  • start selling shares in a business or company for the first time
Example Sentences: The company plans to float next year.
We floated on the stock exchange last year.
 
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