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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. 

SELL LIKE HOTCAKES  

Phrase

  • to sell very quickly.
Example Sentence: The children's toys were selling like hotcakes at the end of the year.
 

IN CHARGE OF (SOMEONE OR SOMETHING)  

Phrase

  • to be in control of someone or something.
Example Sentence: My sister has been in charge of buying supplies at her company for many years.
 

TO HAVE A STAKE IN (SOMETHING)  

Phrase

  • to have part ownership of a company or other business.
Example Sentence: The large oil company has a stake in the new oil exploration company.
 

BIGWIG bɪgˌwɪg

Phrase

  • an important person, a leader
Example Sentence: Some of the bigwigs of our company came to visit our factory.
 

ALLOCATE æləˌkeɪt

Verb

  • to specify where something (especially resources) will go.
Example Sentence: They have allocated $50 million for research and development.
 

PRODUCT PLACEMENT prɒdəkt pleɪsmənt

Noun

  • a form of advertisement where a particular (branded) product can be seen e.g. in the background of a television programme or in a film as part of the set i.e. not in an advertising context.
Example Sentence: Our national television finally accepted paid product placement saying that this is a global marketing trend, after all, common in other countries.
 

TO FIRE SOMEONE faɪər sʌmˌwʌn

Verb

  • to officially terminate somebody's employment; to make someone leave their job.
Example Sentences: He was so bad at handling customer complaints that in the end we had to fire him.
Andy got fired last week because he turned out to be the spy of our competitor.
 

TO SATURATE (a market) sætʃəˌreɪt

Verb

  • to fill a market with a certain product to such an extent that no new customer can be found.
Example Sentence: I'm afraid we've saturated the market of event organizers. Next year we'll have to diversify in order to retain the potential for growth.
 

TAX HAVEN tæks heɪvən

Noun

  • Is a country where companies or individuals may legally take advantage of lower taxation levels.
Example Sentence: Well-known tax havens include: Bermuda, British Virgin Islands, Gibraltar and the Isle of Man.
 

TOUCH BASE tʌtʃ beɪs

Phrase

  • If you touch base with someone, you get in touch and communicate briefly with them on some topic.
Example Sentence: Nancy, I urgently need to touch base with you on the Helegon project. Do you have any time to meet this afternoon?
 

THE GRAVY TRAIN  

Phrase

  • The gravy train is a way of making money quickly, easily, and often dishonestly.
Example Sentences: With no end to the property boom in sight, speculators are continuing to ride the gravy train.
 

A TRANSACTION /trænˈsækʃən/

Noun

  • a business action such as putting money into an account or taking it out.
Example Sentence: There have been several transactions on the account since last month.
 

PRINCIPAL prɪnsəpəl

noun

  • A principal is the head of a school.
Example Sentences: The principal is in a meeting with the deputy-principal and senior teachers.
 

TO BE IN THE MARKET FOR SOMETHING  

phrase

  • If you are in the market for something, you are looking for something particular that you want to buy.
Example Sentences: No, I do not like this car. Actually, I am in the market for a new Mercedes.
We were in the market for a new house, but we decided instead to move to an apartment.
 

SALES FORCE /seɪlz fôrs/

phrase

  • all the employees of a company whose job is persuading customers to buy their company's products or services
Example Sentences:The company has a worldwide sales force of around 3,000 people.
The company’s sales force has just been cut by 20% due to falling demand for the company’s products.
 
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