Business English

exploitation

the action or fact of treating someone unfairly in order to benefit from their work.

whole sale

B2B

retail

B2C

philantrophic

seeking to promote the welfare of others; generous and benevolent

mitigation

the action of reducing the severity, seriousness, or painfulness of something

water stewardship

using water in a way that is socially equitable, environmentally sustainable and economically beneficial

cost object

any item, activity, or entity for which a business wants to measure and assign costs

cost unit

the quantity of a product or service for which costs are computed and measured

profit margin

the amount by which revenue from sales exceeds costs in a business.

overhead costs

ongoing business expenses that cannot be directly attributed to a specific activity.

digitization

converting analog to digital formats

digitalization

using digital technologies to improve existing business processes.

digital transformation

rethinking business models, how work gets done, how value is delivered.

palpable

obvious and noticeable

obsolete

no longer produced or used; out of date.

facet

any of the definable aspects that make up a subject

downtime

time during which production is stopped especially during setup for an operation or when making repairs

mundane

lacking interest or excitement; dull.

teleopathy

an ethical concept describing the unbalanced pursuit of goals (telos), where achieving an objective becomes so dominant it overrides moral considerations, leading to fixation, rationalization, and detachment from broader ethical implications

utilitarianism

an ethical theory that judges actions by their outcomes, aiming to produce the "greatest good for the greatest number" by maximizing overall happiness (or pleasure) and minimizing suffering (or pain) for all affected individuals

equitable

fair and just, especially in a way that takes account of and seeks to address existing inequalities.

'“debiting” an expense account (like COGS)

means inceasing it

telling the system: (We just used up this item to make a sale. Ad its cost to our list of expenses for this month.)

“crediting” an expense account (like Inventory)

means decreasing it.

telling the system: (we shipped this item, we no longer have it in the warehouse. Subtract its value from our books.)

adjourning

the suspension or termination of a formal meeting, hearing, or assembly, or the final stage of a team's lifecycle where a project is completed and the group disbands

reciprocity

the social norm or principle of mutual exchange, where individuals, groups, or nations respond to each other's actions with similar behaviors