TOEIC 1000 Essential Vocabulary

Comprehensive review of business, administrative, financial, and logistical terms from the TOEIC 1000 vocabulary list.

Strategy

A plan of action or policy designed to achieve a major or overall aim.

Objective

A goal or something that one's efforts or actions are intended to attain or accomplish.

Merger

The combination of two things, especially companies, into one.

Acquisition

An asset or object bought or obtained, typically by a library or museum; in business, the purchase of one company by another.

Expansion

The action of becoming larger or more extensive.

Stakeholder

A person with an interest or concern in something, especially a business.

Forecast

A prediction or estimate of future events, especially coming weather or financial trends.

Annual report

A comprehensive report on a company's activities throughout the preceding year, intended to give shareholders information about the company's activities and financial performance.

Revenue

Income, especially when of a company or organization and of a substantial nature.

Profit margin

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

Market share

The portion of a market controlled by a particular company or product.

Negotiation

Discussion aimed at reaching an agreement.

Consensus

A general agreement.

Milestone

An action or event marking a significant change or stage in development.

Resource allocation

The analysis of settled resources and their assignment to various strategic units or projects.

Implementation

The process of putting a decision or plan into effect; execution.

Restructuring

Organizing different parts of a company or system in a new way to make it operate more effectively.

Subsidiary

A company controlled by a holding or parent company.

Compliance

The action or fact of complying with a wish or command, especially a legal requirement or policy.

Audit

An official inspection of an individual's or organization's accounts, typically by an independent body.

Joint venture

A commercial enterprise undertaken jointly by two or more parties which otherwise retain their distinct identities.

Synergy

The interaction or cooperation of two or more organizations to produce a combined effect greater than the sum of their separate effects.

Benchmark

A standard or point of reference against which things may be compared or assessed.

Scalability

The capacity to be changed in size or scale.

KPI

Key Performance Indicator, a quantifiable measure used to evaluate the success of an organization or employee.

SWOT analysis

A study undertaken by an organization to identify its internal Strengths and Weaknesses, as well as its external Opportunities and Threats.

Outsourcing

Obtaining goods or services from an outside or foreign supplier, especially in place of an internal source.

Logistics

The detailed coordination of a complex operation involving many people, facilities, or supplies.

Supply chain

The sequence of processes involved in the production and distribution of a commodity.

Procurement

The action of obtaining or procuring something, especially for business purposes.

Account

A record or statement of financial expenditure and receipts relating to a particular period or purpose.

Interest rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

Mortgage

A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property.

Capital

Wealth in the form of money or other assets owned by a person or organization or contributed for a particular purpose such as starting a company.

Liability

A person or thing whose presence or behavior is likely to cause embarrassment or put one at a disadvantage; in finance, a thing for which someone is responsible, especially a debt or financial obligation.

Invoice

A list of goods sent or services provided, with a statement of the sum due for these; a bill.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

GDP

Gross Domestic Product, the total value of goods produced and services provided in a country during one year.

Itinerary

A planned route or journey.

Customs

The official department that administers and collects the duties levied by a government on imported goods.

Layover

A period of rest or waiting before a further stage in a journey.

Concierge

A hotel staff member who assists guests by booking tours, making theatre reservations, etc.

Diagnosis

The identification of the nature of an illness or other problem by examination of the symptoms.

Deductible

A specified amount of money that the insured must pay before an insurance company will pay a claim.

Wellness

The state of being in good health, especially as an actively pursued goal.

Real estate

Property consisting of land or buildings.

Lease

A contract by which one party conveys land, property, services, etc., to another for a specified time, usually in return for a periodic payment.

Six Sigma

A set of techniques and tools for process improvement.

Automation

The use of largely automatic equipment in a system of manufacturing or other production process.

Encryption

The process of converting information or data into a code, especially to prevent unauthorized access.

Catering

The provision of food and drink at a social event or other gathering.

Split the bill

To divide the cost of a meal or service equally among participants.

Assembly line

A series of workers and machines in a factory by which a succession of identical items is progressively assembled.