What is Business Vocabulary? Where is business vocabulary in use? What are the Business- Specific Terminologies?
Business Vocabulary is the body of words in a particular language. It refers to words,phrases, and terminologies that are specific to business and trade. Not knowing appropriate vocabulary can be embarrassing in business as well as in other professions. But besides avoiding such situations, vocabulary is important for many other reasons. Good vocabulary means good communication that potentially contributes to better job performance and productivity. It can lead to your career advancement, increase in salary and promotion in job. It raises interpersonal skills,self- confidence and job satisfaction.
Business Vocabulary in Use:
Although simple, clear and concrete writing avoids cliches, jargon and slangs, it cannot avoid business- specific vocabulary to communicate effectively. Appropriate vocabulary helps to make the language precise, accurate and strong. It also makes the language relevant to the subject matter. We offer examples of business- specific terminologies, idioms and expressions, and vocabulary in speaking situations.
Business-Specific Terminologies:
The following are samples of vocabulary items in specific areas of business and commerce:
Advertising Terms:
1) Ad: abbreviation for advertisement, item of publicity for a product or services, in magazine, on TV etc.
2) Benefit: advantage of a product or services, usually derived from its features.
3) Circulation: average number of copies of a newspaper or magazine sold in a particular period
4) Classified ads: small advertisements in a magazine or newspaper categorized by subject
5) Commercial: paid advertisement on radio or TV.
6) Double- page spread: advertisement printed across 2 pages in a magazine or newspaper
7) Poster: large sheet of paper, usually illustrated, used as advertisement
8) Prime time: hours on radio and TV with largest audience, especially, the evening hours
Banking Terms:
1)Withdraw: to take money out of a bank account
2) Branch: Local office or bureau of a bank
3) Check: written order to a bank to pay the stated sum from one's account
4) Check book: book containing detachable checks
5) Credit card: card from a bank authorizing the purchasing of goods on credit
6) Credit:money in a bank account; sum added to a bank account; money lent by a bank
7) Current amount: bank account from which money may be drawn at any time such as a checking account
8) Debit: a sum deducted from a bank account, as for a check
9) Deposit account: bank account on which interest is paid;saving account
10) Fill in: to fill out or to add written information to a document to make it complete
Contract Terms:
1) Agreement: an arrangement between two or more people, countries etc. such as a contract
2) Appendix: additional or supplementary material at the end of a contract, or a book, etc.
3)Party: the person or persons forming one side of an agreement
4) Article: a particular statement or stipulation in a contract etc; clause
5) Clause: a particular statement or stipulation in a contract etc; article
6) Condition: anything necessary before the performance of something else
7) Force majeure: superior, power; unforeseeable event excusing one party from fulfilling a contract
8) Fulfill: to satisfy a condition; to complete the required task; to fulfill
9) Herein: in here; in this (document etc.)
10)Hereinafter: in the following part ( of this document etc.)
Employment Terms:
1) Bonus: additional pay given to employees as incentive or reward
2) Dismiss: to remove or discharge from employment; to sack; to fire
3) Employee: person employed
4) Employer: person or firm who employs people
5) Interview: an oral examination of an applicant for a job
6) Make redundant: to dismiss because of not being needed
7) Maternity leave: Period of absence from work ( for a woman) when having a baby
8) Notice: advance warning of intention to resign
9) Perk: perquisite; something additional to regular salary ( ex: free meals; a car)
10) Take on: to employ; to hire
Import/ Export Terms:
1) Bill of lading: list of goods and shipping instructions; waybill
2) Cargo: goods or products that are being transported or shipped
3) Certificate of origin: a document that shows where goods come from
4) Container: huge box to hold goods for transport
5) Customs: government tax or duty on imported goods; the people who collect this tax
6) Declare: to make a statement of taxable goods
7) Freight: goods being transported; a cargo
8) Irrevocable: that which cannot be undone; unalterable
9) Ship: to send or transport by land, sea or air
10) Waybill: list of goods and shipping instructions; bill of lading
Insurance Terms
1)Risk: chance or possibility of injury, loss etc., person or thing causing risk
2) Assessor: a person who calculates the value of something( ex: a building, car etc.)
3) Claim: an application for payment under an insurance policy
4) Comprehensive: (of an insurance policy) all- inclusive; providing complete protection
5) Cover: the protection given by an insurance policy ( ex: public liability cover)
6)Reinsurance: the insuring of a risk by one insurance company with another
7) Goods in transit: Property, merchandise or any goods in the process of being transported
8) Insurance broker: agent who arranges insurance, between insurer and policyholder
9) Liability: the state of being liable; anything for which a person is liable
10) Loss; death, injury, damage etc. that is the basis for a claim
Business Law Terms:
1) Brief: written statement of facts for a court
2) Case: statement of the facts in a trail
3) Contract: a formal agreement, usually in writing, between two or more parties
4) Guilty: responsible for wrong; culpable
5) Jury: a group of people chosen to hear the evidence of a case and give a decision
6) Judge: public official with authority to hear and decide cases in a court of law
7) Plead: to defined a law case, to declare oneself to be guilty or not guilty
8) Sue: to start legal action against someone in a court of law
9) Sum up: to summarize and review the evidence of a case
10) Lawsuit: a trail at court between two private parties
Marketing Terms:
1) Brand: a particular make of product
2) Branded: a product made by a particular company
3) Consumer: the person who buys and uses a product or service
4)Cost: to estimate the price of making a product
5) Develop: to create a new product or improve an existing one
6) End-user: the person, customer etc. who is the ultimate user of a product
7) Image: the concept or perception of a firm or product held by the general public
8) Launch: to introduce a new product, with publicity etc.
9) Product: something made to be sold; merchandise or services
10) Trademark: special symbol, design, word etc. used to represent a product or firm.
Business Vocabulary in Use:
Although simple, clear and concrete writing avoids cliches, jargon and slangs, it cannot avoid business- specific vocabulary to communicate effectively. Appropriate vocabulary helps to make the language precise, accurate and strong. It also makes the language relevant to the subject matter. We offer examples of business- specific terminologies, idioms and expressions, and vocabulary in speaking situations.
Business-Specific Terminologies:
The following are samples of vocabulary items in specific areas of business and commerce:
Advertising Terms:
1) Ad: abbreviation for advertisement, item of publicity for a product or services, in magazine, on TV etc.
2) Benefit: advantage of a product or services, usually derived from its features.
3) Circulation: average number of copies of a newspaper or magazine sold in a particular period
4) Classified ads: small advertisements in a magazine or newspaper categorized by subject
5) Commercial: paid advertisement on radio or TV.
6) Double- page spread: advertisement printed across 2 pages in a magazine or newspaper
7) Poster: large sheet of paper, usually illustrated, used as advertisement
8) Prime time: hours on radio and TV with largest audience, especially, the evening hours
Banking Terms:
1)Withdraw: to take money out of a bank account
2) Branch: Local office or bureau of a bank
3) Check: written order to a bank to pay the stated sum from one's account
4) Check book: book containing detachable checks
5) Credit card: card from a bank authorizing the purchasing of goods on credit
6) Credit:money in a bank account; sum added to a bank account; money lent by a bank
7) Current amount: bank account from which money may be drawn at any time such as a checking account
8) Debit: a sum deducted from a bank account, as for a check
9) Deposit account: bank account on which interest is paid;saving account
10) Fill in: to fill out or to add written information to a document to make it complete
Contract Terms:
1) Agreement: an arrangement between two or more people, countries etc. such as a contract
2) Appendix: additional or supplementary material at the end of a contract, or a book, etc.
3)Party: the person or persons forming one side of an agreement
4) Article: a particular statement or stipulation in a contract etc; clause
5) Clause: a particular statement or stipulation in a contract etc; article
6) Condition: anything necessary before the performance of something else
7) Force majeure: superior, power; unforeseeable event excusing one party from fulfilling a contract
8) Fulfill: to satisfy a condition; to complete the required task; to fulfill
9) Herein: in here; in this (document etc.)
10)Hereinafter: in the following part ( of this document etc.)
Employment Terms:
1) Bonus: additional pay given to employees as incentive or reward
2) Dismiss: to remove or discharge from employment; to sack; to fire
3) Employee: person employed
4) Employer: person or firm who employs people
5) Interview: an oral examination of an applicant for a job
6) Make redundant: to dismiss because of not being needed
7) Maternity leave: Period of absence from work ( for a woman) when having a baby
8) Notice: advance warning of intention to resign
9) Perk: perquisite; something additional to regular salary ( ex: free meals; a car)
10) Take on: to employ; to hire
Import/ Export Terms:
1) Bill of lading: list of goods and shipping instructions; waybill
2) Cargo: goods or products that are being transported or shipped
3) Certificate of origin: a document that shows where goods come from
4) Container: huge box to hold goods for transport
5) Customs: government tax or duty on imported goods; the people who collect this tax
6) Declare: to make a statement of taxable goods
7) Freight: goods being transported; a cargo
8) Irrevocable: that which cannot be undone; unalterable
9) Ship: to send or transport by land, sea or air
10) Waybill: list of goods and shipping instructions; bill of lading
Insurance Terms
1)Risk: chance or possibility of injury, loss etc., person or thing causing risk
2) Assessor: a person who calculates the value of something( ex: a building, car etc.)
3) Claim: an application for payment under an insurance policy
4) Comprehensive: (of an insurance policy) all- inclusive; providing complete protection
5) Cover: the protection given by an insurance policy ( ex: public liability cover)
6)Reinsurance: the insuring of a risk by one insurance company with another
7) Goods in transit: Property, merchandise or any goods in the process of being transported
8) Insurance broker: agent who arranges insurance, between insurer and policyholder
9) Liability: the state of being liable; anything for which a person is liable
10) Loss; death, injury, damage etc. that is the basis for a claim
Business Law Terms:
1) Brief: written statement of facts for a court
2) Case: statement of the facts in a trail
3) Contract: a formal agreement, usually in writing, between two or more parties
4) Guilty: responsible for wrong; culpable
5) Jury: a group of people chosen to hear the evidence of a case and give a decision
6) Judge: public official with authority to hear and decide cases in a court of law
7) Plead: to defined a law case, to declare oneself to be guilty or not guilty
8) Sue: to start legal action against someone in a court of law
9) Sum up: to summarize and review the evidence of a case
10) Lawsuit: a trail at court between two private parties
Marketing Terms:
1) Brand: a particular make of product
2) Branded: a product made by a particular company
3) Consumer: the person who buys and uses a product or service
4)Cost: to estimate the price of making a product
5) Develop: to create a new product or improve an existing one
6) End-user: the person, customer etc. who is the ultimate user of a product
7) Image: the concept or perception of a firm or product held by the general public
8) Launch: to introduce a new product, with publicity etc.
9) Product: something made to be sold; merchandise or services
10) Trademark: special symbol, design, word etc. used to represent a product or firm.
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