Business Word/Phrase of the Day

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FREE REIN fri reɪn

27 Jun 2019

Noun

  • allow somebody to do whatever they want.
Example Sentence: Each department had free rein to make decisions and set procedures.
 

ESTABLISH ɪˈstæblɪʃ

26 Jun 2019

Verb

  • to start a company, especially one that has lasted for a long time.
Example Sentence: The company was established in 1856.
 

DOWNSIZE daʊnˌsaɪz

25 Jun 2019

Verb

  • to reduce the size of a company or operation by shedding resources.
Example Sentence: The were forced to downsize due to increasing overheads.
 

DEPRECIATE dɪˈpriʃiˌeɪt

24 Jun 2019

Verb

  • to lose value, especially with time.
Example Sentence: In general, big cars tend to depreciate faster than smaller cars.
 

DEMOTE dɪˈmoʊt

23 Jun 2019

Verb

  • to be moved to a position of lower status.
Example Sentence: He was demoted because of poor performance.
 

DECENTRALISE diˈsɛntrəˌlaɪz

22 Jun 2019

Verb

  • to move control of an organisation from one (central) body to several smaller ones.
Example Sentence: Many attempts have been made in recent years to decentralise power.
 

CONSENSUS kənˈsɛnsəs

21 Jun 2019

Noun

  • an opinion that all members of a group agree with.
Example Sentence: There was a general consensus that action was required.
 

CLAUSE klɔz

20 Jun 2019

Noun

  • a section or statement from a legal text, such as a law or a contract.
Example Sentence: The lawyer drew his attention to clause 12.5 of the contract.
 

CARGO kɑrgoʊ

19 Jun 2019

Noun

  • the goods being transported by plane or ship.
Example Sentence: When the ship beached, much of the cargo floated ashore.
 

BOARD bɔrd

18 Jun 2019

Noun

  • a group of people who are responsible for making decisions.
Example Sentence: The corporation is run by a Board of Governors.
 

AUDIT ɔdɪt

17 Jun 2019

Noun

  • an investigation of a company's finances to make sure they are correct.
Example Sentence: They are carrying out the annual audit.
 

ASSIGN əˈsaɪn

16 Jun 2019

Verb

  • to give a particular job or task to somebody.
Example Sentence: The job of finding more seats for the event was assigned to Paul.
 

WHOLESALE hoʊlˌseɪl

15 Jun 2019

Noun

  • sold cheaply in large amounts, especially to shops, who resell the goods.
Example Sentence: They claim to sell their products at wholesale prices.
 

VOLUME vɒlyum

14 Jun 2019

Noun

  • the total amount of something.
Example Sentence: The volume of trade has dropped in recent months.
 

UNIT COST yunɪt kɔst

13 Jun 2019

Noun

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