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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. 

BLUE COLLAR WORKERS  

27 May 2022

Phrase

  • Are people who do physical or unskilled work in a factory or outdoors rather than office work. Blue-collar workers are often poorly educated and poorly paid.
Example Sentence: More than 500 blue-collar workers, employed by the mining company, have gone on strike. They’re demanding better pay and working conditions.
 

SUPPLY AND DEMAND  

26 May 2022

Phrase

  • Is the idea that the price of goods and services depends on how much of something is being sold and how many people want to buy it.
Example Sentence: If we are going to remain competitive, we have no choice but to lower our prices. There are simply too many hotels in the city. It’s supply and demand!
 

OUTSOURCING aʊtˌsɔrs

25 May 2022

Verb

  • Is when one company uses a different company to provide some product or service.
Example Sentence: British Airways outsources its in-flight catering to American firm Gate Gourmet.
 

GARDEN LEAVE gɑrdn liv

24 May 2022

Phrase

  • Paid cooling off period, typically three months, that your contract stipulates you cannot work before starting a new job. This is used by financial firms, in particular, to prevent people walking straight into a new job with hot information.
Example Sentence: He quit and was offered a job by one of the main competitors. He’s on garden leave for a few months.
 

THE BIG PICTURE  

23 May 2022

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

22 May 2022

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

21 May 2022

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  

20 May 2022

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

19 May 2022

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

18 May 2022

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.
 

LIQUIDATION lɪkwɪˈdeɪʃən

17 May 2022

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.
 

IPO  

16 May 2022

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.
 

FIXED COSTS fɪkst kɒst

15 May 2022

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

14 May 2022

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

13 May 2022

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.
 
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