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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. 

PAY OFF /peɪ ɒf/

Phrasal Verb

  • to finish paying all money that is owed.
Example Sentence: We should be able to pay off the mortgage within ten years.
 

MAKE A COLD CALL  

Phrase

  • to visit or telephone a potential but unknown customer.
Example Sentence: When he first started to work at his company the salesman was asked to make a cold call.
 

CLOSE UP SHOP  

Phrase

  • to stop doing business (for a variety of reasons.)
Example Sentence: The university bookstore had to close up shop when their rent was increased.
 

FLAT FEE flæt fi

Noun

  • a fixed fee for a service that remains unchanged regardless of usage (e.g. a law firm is not paid by the hour for its services in a particular case but the type of case has a fixed fee)
Example Sentence: We will assist you with any business related legal issue and we offer you a flat fee payment option.
 

FORECAST fɔrˌkæst

Noun

  • prediction; a statement concerning the future of something (e.g. a market segment, a product, exchange rates).
Example Sentence: The agency issued a gloomy forecast about the future of the sector.
 

TO REHEARSE rɪˈhɜrs

Verb

  • to practise e.g. a presentation before actually delivering it.
Example Sentence: It is important to rehearse before delivering a presentation, partly because you can gain the necessary confidence this way.
 

RELIABLE rɪˈlaɪəbəl

Adjective

  • something or somebody that can be relied on and trusted.
Example Sentence: What we would like to do next is to design a highly reliable network and to gain competitive advantage over our rivals at last.
 

PRIVATIZATION praɪvəˌtaɪz

Noun

  • to transfer from public or government control or ownership to private enterprise.
Example Sentence: The privatization of health care is an important issue.
 

OPTION ɒpʃən

Noun

  • The right to buy and sell certain securities at a specified price and period of time.
Example Sentence: Part of the deal is that we are given options to buy 100,000 shares at 0.35c a share.
 

APPRAISED VALUE əˈpreɪz vælyu

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.
 

TO APPLY FOR A LOAN  

Verb

  • to give the bank information and to ask for a loan.
Example Sentence: He applied for a car loan at his bank.
 

DEPENDANT dɪˈpɛndənt

noun

  • A dependant is someone who depends on you for financial support, such as a child or family member who does not work.
Example Sentences: My pension will provide financial stability for my dependants.
The insurance provides coverage for workers and their dependants.
 

TO CALL IT A DAY  

phrase

  • To call it a day is to stop the work you are doing.
Example Sentences: We've been working on this for fourteen hours now. Isn't it time we called it a day?
I'm getting a bit tired now - shall we call it a day?
 

TECHNICAL SKILLS / tek′ni kəl skilz/

phrase

  • Knowledge and proficiencies required in the accomplishment of engineering, scientific, or any specific task.
Example Sentences:What technical skills are required to perform this job?
In addition to having excellent technical skills, he also shows a great deal of innovation.
 

INSURANCE AGENT ɪnˈʃʊərəns eɪdʒənt

Noun

  • a person or company who gives advice about and sells insurance for an insurance company or number of insurance companies.
Example Sentence: A good insurance agent can be a very useful guide to the policies available.

 

 
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