Business Word/Phrase of the Day

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LAISSEZ-FAIRE lɛseɪ ˈfɛr

26 Jun 2020

Noun

  • a style of management when the manager sets the task and then allows the employees to complete it with more or less independence and with only a minimal involvement from his side.
Example Sentence: The laissez-faire management style of the CEO really inspires colleagues and spurs growth.
 

TO REAP rip

25 Jun 2020

Verb

  • to get something as a result of an activity.
Example Sentence: The German car maker expects to reap 56% of its profits in Asia next year.
 

WORD-OF-MOUTH ADVERTISEMENT  

24 Jun 2020

Phrase

  • a type of advertisement when a product or service is popularized because people tell each other about it and not because they read about it or watch adverts on TV.
Example Sentence: Experts say that word-of-mouth advertising is much more influential than any other form of publicity because it is more genuine.
 

BANDWAGON bændˌwægən

23 Jun 2020

Noun

  • an activity or popular view that a lot of people join or share, usually because it is fashionable; a current trend .
Example Sentence: Among others a lot of brand-name sports companies have jumped on the Japanese tsunami bandwagon and campaign with it.
 

TO PIGEONHOLE pɪdʒənˌhoʊl

22 Jun 2020

Verb

  • to categorise somebody, to label somebody.
Example Sentence: Almost everybody gets pigeonholed for one reason or another. My boss, for example, thinks I am the one who is always late, although I only miss my train to work every second week.
 

TO BE ON THE BALL  

21 Jun 2020

Phrase

  • to be able to understand and react to any situation or fact quickly.
Example Sentence: Although the new marketing manager is really on the ball, the CEO doesn't like her. He must be jealous – she is much younger and probably much more talented than he is.
 

TO COMMISSION kəˈmɪʃən

20 Jun 2020

Verb

  • to officially ask someone to do something for you.
Example Sentence: Leonardo was commissioned to make an altar piece in 1483 in the Church of S. Francesco Grande.
 

GROSS NATIONAL PRODUCT  

19 Jun 2020

Noun

  • the total value of all the services and goods produced by a certain country a year including the income from abroad.
Example Sentence: Why should we be happy when our GNP increases?' It is a question every economist can answer very easily.
 

PRODUCT PLACEMENT prɒdəkt pleɪsmənt

18 Jun 2020

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.
 

DAMAGES dæmɪdʒ

17 Jun 2020

Noun

  • the money/compensation you get if someone/something has caused you injury or harm.
Example Sentence: My company seeks EUR 10,000 in damages from our competitor since they've obviously copied the basic features of our best selling product.
 

GROUND-BREAKING graʊndˌbreɪkɪŋ

16 Jun 2020

Adjective

  • pioneering.
Example Sentence: His ground-breaking study on the role of fringe benefits in motivating workforce came out in 1981.
 

TO FLOP flɒp

15 Jun 2020

Verb

  • to fail completely.
Example Sentence: Their new line of dishwashers flopped in Asia because they did not take into account size differences.
 

TO HIT A GLASS CEILING  

14 Jun 2020

Phrase

  • the phenomenon when a career seems to be advancing for a while and then – for no apparent reason – promotions stop and the person is stuck in a certain position or at a certain level on the career ladder.
Example Sentence: They often say there's an invisible glass ceiling women hit at their workplace – certain positions are simply available only for men.
 

CEILING silɪŋ

13 Jun 2020

Noun

  • the highest amount or limit that can be charged for a product or service; also, the maximum number or quantity of goods that can be produced.
Example Sentence: The government decided to intervene and place a price ceiling on certain products - the impact on consumer demand and production was dramatic.
 

A BALLPARK FIGURE bɔlˌpɑrk fɪgər

12 Jun 2020

Noun

  • an approximate number, a guesstimate.
Example Sentence: There were about 5 million people there, but it's just a ballpark figure.
 
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