Business English II

supply chain

:The full network of people, companies, activities, information, and resources needed to make and deliver a product.

objective

A specific goal or result that someone wants to achieve.

USP (unique selling proposition)

The special feature or benefit that makes a product different from competitors.

value

The usefulness, importance, or worth of something to a customer or business.

revenue

Money a company earns from selling goods or services before costs are subtracted.

devise

To plan or invent a method, system, or solution.

register

To officially sign up or record information.

refine

To improve something by making small changes.

overheads

Regular business costs that are not directly linked to producing one item.

cost management

The process of planning, controlling, and reducing business expenses.

allocate something to something

To assign money, time, or resources for a particular purpose.

privately held corporation

A company whose shares are owned privately and are not traded on a public stock exchange.

accomplish something

To successfully complete or achieve something.

mission statement

A short formal statement describing a company’s purpose and values.

founder

A person who starts a company, organization, or project.

customized

Made or changed to fit a particular person, company, or situation.

word-of-mouth

Informal recommendations or information passed from person to person.

up-market

Designed for or aimed at customers with higher income or more expensive tastes.

target group

The specific people a product, service, or message is intended for.

financial projections

Forecasts of future income, costs, profit, or cash flow.

profitability

The ability of a business to make profit.

tax return

An official form reporting income and taxes to the tax authority.

creditor

A person or organization that is owed money.

liability

A legal responsibility or a debt that a person or company must pay.

company secretary

A senior administrative officer responsible for legal and official company records.

corporation tax

Tax paid by companies on their profits.

sole trader

A business owned and run by one person, who is usually personally responsible for its debts.

partnership

A business owned and managed by two or more people.

private limited liability company

A private company whose owners have limited financial responsibility for company debts.

public limited liability company

A company whose shares can be offered to the public and traded publicly.

shareholder

A person or organization that owns shares in a company.

loan

Money borrowed that must be repaid, usually with interest.

get more bang for your buck

To get better value or more benefit for the money you spend.

see it in black and white

To see written proof or official confirmation.

be in the red

To owe money or be making a financial loss.

spend money like water

To spend money very quickly and carelessly.

put my foot in

To say something embarrassing or inappropriate by mistake.

sell like hotcakes

To sell very quickly and in large numbers.

get a piece of the action

To take part in a successful or profitable activity.

get off the ground

To start successfully.

come under fire

To be strongly criticized.

cook the books

To dishonestly change financial records.

be a real high-flyer

To be very successful and ambitious.

be a big fish in a small pond

To be important in a small or limited environment.

keep an eye on things

To watch or monitor a situation carefully.

corner the market

To gain control of most of a market.

make a killing

To make a large profit quickly.

a level playing field

A fair situation where everyone has the same chances.

in the driving seat

In control of a situation.

to be neck and neck

To be almost equal in a competition.

flogging a dead horse

Wasting effort on something that has no chance of success.

move the goalposts

To change the rules or requirements during a process.

keep your eye on the ball

To stay focused on the main task or goal.

ahead of the game

In a better position than competitors or better prepared.

a one horse race

A competition in which one person or company is clearly going to win.

acknowledge

To accept, admit, or show that something is true or received.

repercussions

Negative effects or consequences that happen later.

committment

A promise, duty, or strong dedication to something.

concession

Something given up or allowed in order to reach an agreement.

discordant

Not in agreement or not fitting well together.

misconstrue

To understand or interpret something incorrectly.

edgy

Nervous, tense, or unconventional and modern in style.

outdated

No longer modern, useful, or current.

glass ceiling

An invisible barrier that prevents some people from reaching top positions.

fringe benefits

Extra benefits employees receive in addition to salary.

open-plan office

An office with few or no walls between work areas.

severance package

Money and benefits given to an employee when their job ends.

staff retention

A company’s ability to keep its employees.

previous

Existing or happening before the present one.

adjustment

A small change made to correct or improve something.

cost-consciousness

Awareness of costs and a tendency to avoid unnecessary spending.

shift workers

Employees who work scheduled periods outside the normal working day.

rotas

Schedules showing when employees have to work.

bias

An unfair preference for or against someone or something.

warehousing

The activity of storing goods in a warehouse.

cross-docking

A logistics process where goods are moved directly from incoming to outgoing transport with little or no storage.

transshipment

The transfer of goods from one vehicle or vessel to another during transport.

reverse logistics

The process of moving goods back from customers for returns, repair, recycling, or disposal.

order picking

The process of selecting items from storage to fulfill customer orders.

storage

The act or place of keeping goods until they are needed.

handling

The physical movement, control, or treatment of goods.

haulage

The business of transporting goods by road or rail.

customs

The government authority and procedures for goods entering or leaving a country.

pilfering

Small-scale stealing, especially from goods in transport or storage.

freight

Goods transported in bulk by truck, train, ship, or aircraft.

vessel

A large ship or container used for transport, especially by sea.

procurement

The process of buying goods or services for a company.

strapping

Securing goods with strong bands or straps.

stacked

Placed in a pile or arranged one on top of another.

unloading

Removing goods from a vehicle, ship, or container.

crucial

Extremely important or necessary.

mechanical handling

The movement of goods using machines such as forklifts or conveyors.

refrigerated

Kept cold using a cooling system.

crate

A strong box or container used for transporting goods.

re-use

To use something again instead of throwing it away.

cargo

Goods carried by ship, aircraft, truck, or train.

stowage regulation

Rules about how goods must be packed and arranged for transport.

load

Goods being carried, or the weight carried by a vehicle or structure.

flammable

Able to catch fire easily.

shrink-wrap

Plastic film wrapped tightly around goods by heat.