Working in the business world varies widely from culture to culture and it can be really challenging to bridge the language gap at work, but learning a set of basic business-related terms is a great place to start. That’s where we come in! This blog series will explore the top 10 useful words for specific industries, so you can learn the English you can actually use in the real world. This week, we’re looking at some basic business concepts and vocabulary words.
1. revenue (noun): income of a company or organization
Ex: The company’s revenue increased by 1.4% this quarter.
2. expense (noun): money spent or cost incurred to generate company revenue
Ex: The accounting department congratulated the sales team on their expense management.
3. profit (noun): financial gain from amount earned and amount spent
Ex: In 2016, Qatar Airways’ full-year profit more than quadrupled.
4. budget (noun): an estimate of income and expenses for a set period of time
Ex: Pampers is the brand that spends the most on advertising globally, with a budget of $8.3 billion.
5. deadline (noun): the latest time or date a task should be completed by
Ex: The deadline for the final report is next Monday.
6. competitor (noun): a rival company that offers the same product or service
Ex: In the aircraft industry, Airbus is Boeing’s main competitor.
7. brand (noun): a unique image that identifies a product and distinguishes it from its competitors
Ex: Apple and Google are two of the most valuable brands in the world.
8. to sell (verb): to make something available to be bought in exchange for money
Ex: Amazon sells a wide range of products online.
9. to advertise (verb): to promote a product or service through public communication or news mediums
Ex: A lot of companies use humor as a mean to advertise their products.
10. to invest (verb): to spend money with the expectation it will bring potential profit, interest, or income
Ex: Startups are always looking for people to invest in their companies.
For additional practice with industry-specific terms in English, check out the Unit Catalog in your Voxy course for more work-related materials!