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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. 

PREMIUM primiəm

Noun

  • an amount to be paid for an insurance policy.
Example Sentence: My auto insurance premium increased by 25% this year because I had to make a claim last year.

 

 

UPGRADE ʌpˌgreɪd

Noun

  • move from a lower class of seat on a plane/train etc. to a higher class of seat.
Example Sentence: I was upgraded to business class on my last flight to Hong Kong.

 

 

CUSTOMER LOYALTY kʌstəmər lɔɪəlti

Noun

  • the likelihood customers will stay with a company and resist competitive offers.
Example Sentence: The supermarket is hoping to boost customer loyalty with the new reward scheme.
 

PARENT COMPANY pɛərənt kʌmpəni

Noun

  • a company that owns control of one or more subsidiary companies.
Example Sentence: It is the parent company of several publishing firms.
 

CLAUSE klɔz

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.
 

FLOP flɒp

Verb

  • very unsuccessful.
Example Sentence: The product was a flop and was discontinued after just 6 months.
 

GET ON WITH  

Phrasal Verb

  • have good relationship.
Example Sentence: I don't get on with her. She isn't a very nice woman.
 

DUMPING dʌmpɪn

Verb

  • when goods are sold abroad for a much cheaper price.
Example Sentence: Dumping enables companies to offload unwanted stock.
 

GET ON TO  

Phrasal Verb

  • contact.
Example Sentence: I'll get on to the supplier to find out what the problem is.
 

MESS UP mɛs ʌp

Phrasal Verb

  • make mistake.
Example Sentence: This is an important meeting, so don't mess up!
 

BUYOUT baɪˌaʊt

Noun

  • when a person or group buys control of a company.
Example Sentence: A private equity firm has completed its £3.5bn buyout of the UK music group.
 

LETTER OF CREDIT  

Noun

  • a letter from a bank that guarantees a payment to a specified person.
Example Sentence: The seller requires a letter of credit to secure payment.
 

STONE BROKE /stoʊni broʊk/

Phrase

  • If you are stone broke, you are completely without money.
Example Sentences: Don't ask Jim to lend you any money; he's stone broke.
 

CORNER THE MARKET  

Phrase

  • to sell to a special group of people.
Example Sentence: They have cornered the market for men's shaving equipment.
 

LETTER OF CREDIT  

Noun

  • a letter from a bank that guarantees a payment to a specified person.
Example Sentence: The seller requires a letter of credit to secure payment.
 
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