Business Vocabulary Review (copy)

This set of flashcards covers essential business vocabulary for effective understanding and communication in a professional context.

autocratic

demanding absolute obedience from other people

bonus

extra amount of money that is given as a present or reward in addition to expected earnings

by the book

formally, or according to the rules

dress code

set of rules for what you can wear

goal

aim or purpose

mentor

person who gives another person help and advice over time

vision

ability to imagine how a country, industry, etc. could develop in the future

dotcom

Internet company

publicly accountable

responsible to the government

rat race

struggle of individuals in a competitive environment

red tape

paperwork

streamline

make more efficient

board

group of people responsible for controlling an organization

bottom line

final line in the accounts of a company stating total profit or loss

make redundant

no longer employ someone due to lack of work

market share

percentage of all sales within a market held by one brand

monitor

watch and check a situation carefully over time

return

amount of profit on an investment

revenue

money earned from sales

shareholder

person who owns shares in a company

delegate

give a job or duty to someone else

get down to work

start directing efforts towards work

hands-on approach

way of doing things which is practical, not theoretical

trouble-shooting skills

ability to solve difficulties

brand builder

developer of a product’s image

brand image

impression of a product in the minds of customers

empire

very large and important business organization

feedback

remarks passed back to enable changes

fire

dismiss from a job

incompetent

showing lack of ability to do something successfully

ranks

membership of a group or organization

rate

level of payment

stake

share or financial involvement in a business venture

workload

amount of work to be done

administer

manage or govern

assess

judge or decide the amount, value, or quality of something

brand management

how a company manages its brands and image

crisis management

process of handling difficult situations

line management

direct management of staff

middle management

level between senior and junior management

performance pay

salary that increases with improved work

quality management

managing systems to ensure effective and standard products

risk management

process of assessing and managing potential dangers

time management

skill of effectively administering your time

budget

plan showing how much money an organization will earn and spend

in-house magazine

publication produced within an organization by its employees

memo

written message sent within a business organization

one-to-one interview

meeting between just two people

target

level or situation intended to be achieved

timekeeping

ability to arrive at the expected time

item

one of several subjects to be considered

query

question

rota

list of tasks and assigned individuals

update

provide recent information

within budget

not exceeding available funds

input

anything provided to help something succeed

agenda

list of matters to be discussed at a meeting

issue

subject or problem for discussion

overworked

having too much work to do

allot

give a share of something available for a particular purpose

dealings

activities involving other people

overview

short description providing general information

procedure

set of official actions for doing something

proceedings

series of planned events

summon

officially arrange a meeting

undertaking

formal promise

attendee

someone who goes to an event

gross profit

profit before costs and taxes are deducted

incentive

something encouraging a person to act

internal candidate

employee seeking a new position within the organization

interview panel

group asking candidates questions for a job

outcome

result of an event or process

productive

useful or effective

psychometric test

exam measuring mental capacities and personality

report back

bring information to someone in authority

run over time

take longer than scheduled

vacancy

job that is available for someone new

schedule

arrange for an event to happen at a specific time

shrewd

based on good judgement

ship

send goods to another place

call-centre operative

person handling telephone calls in a call center

customer care

service provided to customers

frontline staff

employees with direct customer contact

outsourcing

paying another company to perform part of work

asset

valuable belonging that can be used to pay debts

cross-selling

suggestion to buy additional or related products during a purchase

profit margin

profit after costs are subtracted

profitability

capacity to make a profit

undervalue

consider someone or something less valuable than they are

enhance

improve quality or strength

bid

compete by offering to do a job for money

brand identity

how a brand is recognized and perceived

itemise

list items separately

proven track record

successful achievements in the past

specification

detailed description of how something should be done

value for money

worth the money spent

allocate

give something as a share of a total amount

benchmark

measure quality by comparison with accepted standards

critical path

sequence of stages determining minimum execution time for a project

key stage

important time period in a sequence of events