Business Word/Phrase of the Day

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TO CLOSE A DEAL /tu; kloʊz eɪ dil/

08 Oct 2019

phrase

  • If you close a deal, you make a successful business arrangement with someone.
Example Sentences:We closed a deal with a major supermarket to supply them with Australian oranges.
I must close a few deals today; otherwise, I'm hardly going to make any commission this month.
 

TO BREAK EVEN /tu; breɪk ivən/

07 Oct 2019

phrase

  • If you break even, you have neither made a profit nor lost money.
Example Sentences: In his first year in business, although he had made many contacts, he still only broke even.
Our restaurant was lucky because it did not fail; however, next year we are hoping to do more than break even.
 

TO GET SOMETHING OFF THE GROUND  

06 Oct 2019

phrase

  • To get something off the ground is to actually start something that has been planned.
Example Sentences: We have the plans to build this. Now, what do we have to do to get this off the ground?
Let's see if we can finally get this merger off the ground!
 

TO TAKE A CALCULATED RISK /tu; teɪk eɪ kælkyəˌleɪtɪd rɪsk/

05 Oct 2019

phrase

  • If you take a calculated risk, you take a chance, but you know exactly what will happen if you fail.
Example Sentences: Yes, it is possible we may lose this deal, but it is a calculated risk we are willing to take.
Mr. Gardner knows we're taking a calculated risk in this case, but he believes the rewards are too good to not take it.
 

TO MAKE A COLD CALL /tu; meɪk eɪ koʊld kɔl/

04 Oct 2019

phrase

  • To make a cold call is to make a sales call to a stranger.
Example Sentences: If you become an employee with our company, you will start in the sales department making cold calls.
The salesman looked in the phone book, started with A and just made cold calls all week until he got to the letter Z.
 

A KICKBACK kɪkˌbæk

03 Oct 2019

Noun

  • an amount of money that is paid illegally for favours.
Example Sentence: The construction company was giving kickbacks to the local politicians.
 

A COMPANY MAN /eɪ kʌmpəni mæn/

02 Oct 2019

phrase

  • A company man is an employee more loyal to the company than to other employees.
Example Sentences: It is unlikely Mr. Ross will let us leave early to lunch today. He is a company man.
Clean your desk! A company man is coming today for a surprise inspection.
 

IN SHORT SUPPLY  

01 Oct 2019

Phrase

  • to not have enough of something.
Example Sentence: Experienced computer programmers are in short supply in our company.
 

ACROSS THE BOARD /əˈkrɔs ðə bɔrd/

30 Sep 2019

phrase

  • If something is across the board, then everything or everyone is included in it.
Example Sentences:The director made an across the board decision to hire new managers.
We heard that when Mr. Jones returns, he will give salary increases across the board.
 

PAYMENT TERMS /pā′mənt tʉrmz/

29 Sep 2019

phrase

  • Conditions under which a seller will make a sale. Typically, these terms specify the period allowed to a buyer to pay off the amount due, and may demand cash in advance, cash on delivery, deferred payment period of 30 days or more, etc.
Example Sentences:According to our payment terms, invoices must be settled within 14 days.
We couldn’t accept their payment terms so we chose another supplier.
 

TECHNICAL SKILLS / tek′ni kəl skilz/

28 Sep 2019

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.
 

BOND bɒnd

27 Sep 2019

Noun

  • Certificate issued by companies and governments to its lenders.
Example Sentences: Bonds are considered a safe investment as they are guaranteed by governments.
 

STAKEHOLDER /stāk′hōl′dər/

26 Sep 2019

noun

  • Person, group, or organization that has direct or indirect stake in an organization because it can affect or be affected by the organization's actions, objectives, and policies. Key stakeholders in a business organization include creditors, customers, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources.
Example Sentences:As one of the major stakeholders in the company, we have three representatives on the board of directors.
Who is the biggest stakeholder in this company?
 

GOODS /go̵odz/

25 Sep 2019

noun

  • Things we buy and sell that can be made or grown such as clothes, food and cars.
Example Sentences:What is the total value of the goods in this shipment?
The goods we ordered are currently in port awaiting clearance from customs.
 

ORDER BACKLOG /ôr′dər bak lôg′/

24 Sep 2019

phrase

  • Value of unfulfilled orders, or the number of unprocessed jobs, on a given day. While a backlog indicates the workload that is beyond the production capacity of a department or firm, it also serves as a pointer toward the firm's future sales revenue and earnings.
Example Sentences:We have an order backlog of about $670,000.
Due to a large order backlog, all orders are currently delayed by about two weeks.
 
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