Business Word/Phrase of the Day

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OVERHEADS ˈoʊvərˈhɛds

19 Jul 2019

Noun

  • the costs you pay regularly when running your business, e.g. the cost of electricity, heating, phone bills etc.
Example Sentence: Since the new management laid off half of our workers our overheads have been an all-time low.
 

OUTLOOK aʊtˌlʊk

18 Jul 2019

Noun

  • how the future looks based on current predictions.
Example Sentence: The outlook for small firms has worsened in recent months.
 

ON SCHEDULE ɒn skɛdʒul

17 Jul 2019

Phrase

  • on time, according to a plan.
Example Sentence: He says that the building project is still on schedule.
 

MOGUL moʊgəl

16 Jul 2019

Noun

  • a very wealthy or powerful person in business.
Example Sentence: He is described as the world’s most powerful media mogul.
 

LEVERAGE lɛvərɪdʒ

15 Jul 2019

Noun

  • the power to influence somebody's actions.
Example Sentence: Big companies have a lot of leverage over their business partners.
 

LETTER OF CREDIT /ˈbɛt ər ʌv ˈkrɛd ɪt/

14 Jul 2019

phrase

  • A Letter of Credit or L/C is a binding document that a buyer can request from his bank in order to guarantee that the payment for goods will be transferred to the seller. Basically, a letter of credit gives the seller reassurance that he will receive the payment for the goods. In order for the payment to occur, the seller has to present the bank with the necessary shipping documents confirming the delivery of goods within a given time frame. It is often used in international trade to eliminate risks such as unfamiliarity with the foreign country, customs, or political instability.
Example Sentences:We never release a shipment until a letter of credit has been issued.
The buyer applies to the bank for a letter of credit to be issued.
 

INTELLECTUAL PROPERTY ɪntlˈɛktʃuəl prɒpərti

13 Jul 2019

Noun

  • something that somebody creates which has value, esp. music, art, text, etc.
Example Sentence: The designer claims that her intellectual property rights were infringed.
 

HOSTILE TAKEOVER BID  

12 Jul 2019

Noun

  • an aggressive attempt by a company to buy control of another company.
Example Sentence: Their French rival has launched a hostile takeover bid.
 

HARD-SELL hɑrd sɛl

11 Jul 2019

Adjective

  • (of selling or advertising) aggressive and forceful.
Example Sentence: He tried to defend the hard-sell tactics used to entice customers.
 

HAND IN YOUR NOTICE  

10 Jul 2019

Phrase

  • to officially tell your company that you are leaving the job.
Example Sentence: He handed in his notice when he heard that he had got the new job.
 

GET DOWN TO BUSINESS  

09 Jul 2019

Phrase

  • start doing the thing that you intend to do.
Example Sentence: Let's get down to business! What is the first item on the agenda?
 

DIVISION dɪˈvɪʒən

08 Jul 2019

Noun

  • a part of an organisation.
Example Sentence: She heads the company's worldwide sales division.
 

DIVERSIFY dɪˈvɜrsəˌfaɪ

07 Jul 2019

Verb

  • to start providing more varied products or services.
Example Sentence: Farmers are being encouraged to diversify in order to survive.
 

COMMODITY kəˈmɒdɪti

06 Jul 2019

Noun

  • something that can be bought or sold e.g. a resource or product.
Example Sentence: Primary commodities tend to be produced in poorer countries.
 

COLLABORATE kəˈlæbəˌreɪt

05 Jul 2019

Verb

  • to work with somebody on a project or task.
Example Sentence: The two companies will collaborate to develop, produce and sell computers.
 
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