A
Accountable: responsible for the effects of your actions: Managers are accountable for the performance of their employees.
Achievement: something that you succeed in doing by your own efforts: Designing the first laptop computer was one of his greatest achievements.
Aid: assistance given to a country or organisation in difficulty: The World Bank is repeating its call for rich countries to increase the amount of aid given to the poorest nations.
Analysis: the work of studying data and information: Detailed analysis of our results shows that productivity has increased only marginally analyze.
Applicant: a person who is applying for a position: All applicants are asked to provide a letter of reference.
Appraise: to assess the value of something Staff are regularly appraised to see if they have met the objectives that they are given.
Asset: something belonging to an individual or business that has value or the power to earn money.
Assign: give someone a particular task to do: Employees are assigned duties that correspond to their skills and training.
Authorization: a public institution which is in charge of enforcing regulations or administering a government service: The public health authority.
Autonomy: the freedom to make your own decisions without having to request autonomous: I’ve always believed that it’s best to give staff as much autonomy as possible.
B
Back office: the departments of a financial company where routine admistrative tasks are done without direct contact with customers: Efficient management of the back office can reduce costs.
Balance sheet: a statement showing the wealth of a business or organisation at a particular date The balance sheet has two parts showing assets and liabilities: Buildings and machinery are assets that should be listed on the balance sheet.
Barrier to entry: any factor which prevents new competition from entering a market: A strong brand can become a barrier to entry in some markets, while a simple product cannot.
Benefit: an advantage or an improvement: One benefit of the new design is that it can be installed easily.
Bid: an offer to buy something at a stated price: All bids must be submitted in writing.
Board: the group of directors elected by the shareholders to manage a company: The board has approved the director’s salary.
Borderline: the point at which one thing ends and another begins: Many products fall into the borderline between different product categories.
Bottom line: the last line on a financial document which shows the final result (total profit once all costs have been deducted): Falling sales are going to have a negative impact on the bottom line.
Boycott: a protest where people refuse to buy or use a product or service: The consumer group is calling for the boycott of all tobacco products.
Brand: the identity of a product or service: Eastman Kodak is a premier brand in traditional and digital imaging.
Breakthrough: an important new discovery: The iMac was a major breakthrough in computer design.
Budget: an account of probable future income and expenditure during a fixed period: We are currently preparing the budget for next year.
Business practices: the methods used to conduct business: The Company is running a scheme to encourage best business practices.
Business process: any activity that is essential for a firm to conduct its business: Organizations that have complete control over their business processes are the most productive.
Business to business abbreviation B2B: refers to any business or correspondence between two companies: The B2B sector will be the biggest growth area in internet traffic.
C
Campaign: a planned operation which aims to achieve a particular result: A new campaign by activists has forced the company to reconsider some of its policies campaign.
Charity: a non-profit-making organisation that collects goods and money in order to provide assistance: The charity managed to raise £3m for homeless people in the UK.
Coach 1: person who is responsible for training a team or an individual: He’s a very successful football coach.
Coach 2: to train people to help them to acquire particular skills: I’m responsible for coaching two new people in the department.
Company: a legally registered business; There are many different types of companies.
Compensation: payment, including salary and other incentives like stock options: The best paid executives received more than $10 million in compensation last year.
Contract: a document setting out an agreement between two or more parties: Under the new contract the company becomes the exclusive distributor for North America.
Competition: rivalry between businesses that are operating in the same market.
Consortium: an association between two or more companies to work together on a specific project (usually a major construction or engineering project): SK Gas has formed a consortium with automakers to produce gas-powered vehicles.
Consumer: a person who buys products and/or services: Nokia is committed to providing consumers with the information they need.
Copycat: the term for someone who copies the work of another person: The Australian government has announced that it is cracking down on copycats.
Copyright: the legal right that belongs to the person who has created a new artistic work or piece of software: All of the graphics and editorial content on this site are protected under US copyright.
Correspondence: writing, receiving and answering letters: I’m catching up on my correspondence.
Cost 1: the price paid for something: The total cost for the new equipment will be $50,000.
Cost 2: the money that is required to produce or sell something: It looks like production and labor costs will be higher than we expected.
Cover letter: a letter written to an employer in response to a job advertisement: Candidates should send a cover letter with a copy of their CV.
Currency: the type of money that is used by a particular country or trading bloc: The euro is the currency of most member states of the European Union.
Curriculum vitae abbreviation CV: a document that gives details of a person’s experience and qualifications: Her CV is fairly typical for a business graduate.