Business and Finance Vocabulary Practice

A comprehensive collection of business and finance vocabulary terms, including idioms, logistics, and financial definitions derived from the lecture notes.

supply chain

the system that moves a product from producer to customer

objective

something you want to achieve; a goal

USP (unique selling proposition)

the special feature that makes a product different from others

Value

the importance or worth of something

Revenue

the money a business earns

devise

to invent or plan a complex system or process

register

to officially record a business or its details

refine

to improve something by making small changes

overheads

the regular costs of running a business, such as rent and electricity

cost management

the process of planning and controlling the budget of a business

allocate something to something (e.g. capital)

to assign a portion of resources or money to a specific purpose

privately held corporation

a business owned by a small group of people whose shares are not traded publicly

accomplish something

to succeed in doing something you intended to do

mission statement

a formal summary of the aims and values of a company

founder

a person who starts a company

customized

modified to suit a particular individual or task

word-of-mouth

information or recommendations passed from person to person through talking

up-market

products or services that are expensive and of high quality

target group

the specific group of people a product or service is aimed at

financial projections

an estimate of future revenue and expenses for a business

profitability

the ability of a business to earn a profit

tax return

a document filed with a tax authority reporting income and taxes

creditor

a person or company to whom money is owed

liability

a legal responsibility or a debt owed by a business

company secretary

an individual responsible for the administration and legal compliance of a company

corporation tax

a tax paid by companies on their profits

sole trader

a person who owns and runs their own business alone

partnership

a business owned and operated by two or more people

private limited liability company

a company where owners' liability is limited and shares are not sold to the public

public limited liability company

a company whose shares are traded on the stock exchange

shareholder

an owner of shares in a company

loan

money borrowed that is expected to be paid back with interest

get more bang for your buck

to get better value for the money you spend

see it in black and white

to have written proof or documentation of something

be in the red

to have a negative bank balance or be in debt

spend money like water

to spend money very quickly and wastefully

put my foot in

to say or do something that upsets or embarrasses someone

sell like hotcakes

to sell very quickly and in large quantities

get a piece of the action

to become involved in an activity or business to make a profit

get off the ground

to successfully start a project or business

come under fire

to be criticized severely

cook the books

to dishonestly change a company's financial records

be a real high-flyer

someone who is extremely successful and ambitious in their career

be a big fish in a small pond

to be an important person in a small group or organization

keep an eye on things

to monitor or watch a situation carefully

corner the market

to gain enough control of a market to manipulate prices

make a killing

to make a large profit very quickly

a level playing field

a situation where everyone has the same opportunities and rules

in the driving seat

to be in control of a situation

to be neck and neck

to be equal or very close in a competition

flogging a dead horse

wasting time on something that has no chance of succeeding

move the goalposts

to change the rules or requirements while a process is already happening

keep your eye on the ball

to stay focused on the task or goal at hand

ahead of the game

to be in a leading or successful position compared to competitors

a one horse race

a competition where one person or team is much stronger than the others

acknowledge

to accept or admit the truth or existence of something

repercussions

the unintended and usually unwelcome consequences of an action

committment

a promise or firm decision to do something

concession

something granted or given up in response to a demand or during a negotiation

discordant

disagreeing or not in harmony

misconstrue

to interpret a statement or action wrongly

edgy

bold, innovative, or provocative

outdated

old-fashioned or no longer useful or relevant

glass ceiling

an invisible barrier that prevents certain groups from rising to top positions

fringe benefits

extra benefits given to employees in addition to their salary

open-plan office

an office with few or no walls or partitions between desks

severance package

pay and benefits given to an employee when their employment is ended

staff retention

the ability of an organization to keep its employees

previous

happened or existed before something else

adjustment

a small change made to improve something or make it fit

cost-consciousness

being aware of and careful about how much things cost

shift workers

employees who work during set periods, such as night or day shifts

rotas

a list or timetable showing when people will perform certain tasks

bias

prejudice in favor of or against one thing or person

warehousing

the practice or process of storing goods in a warehouse

cross-docking

unloading materials from an incoming vehicle and loading them directly into outbound vehicles

transshipment

the shipment of goods to an intermediate destination prior to reaching the final destination

reverse logistics

moving goods from their final destination back to the seller or manufacturer

order picking

the process of pulling items from inventory to fulfill customer orders

storage

the action of storing something for future use

handling

the act of moving, managing, or touching goods

haulage

the business of transporting goods by road or rail

customs

the official department that collects taxes on imported goods

pilfering

stealing things of little value, especially in small quantities over time

freight

goods transported in bulk by truck, train, ship, or aircraft

vessel

a large ship or boat

procurement

the process of obtaining or purchasing goods or services

strapping

the act of fastening or securing something with a strap

stacked

items arranged in a tidy pile or layers

unloading

the act of removing goods from a vehicle or container

crucial

extremely important or necessary

mechanical handling

the use of machinery like forklifts to move and store goods

refrigerated

kept cool or frozen to preserve contents

crate

a wooden or plastic box used for transporting or storing goods

re-use

to use something again instead of throwing it away

cargo

goods carried on a ship, aircraft, or motor vehicle

stowage regulation

rules regarding how goods are safely packed and stored on a vessel

load

a heavy amount of goods being carried

flammable

easily set on fire

shrink-wrap

plastic film that shrinks when heated to tightly seal goods