Intermediate Glossary, Business English
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Glossary of business terms
Adjective
(adj)
Headwords for adjectives followed by
information in square brackets [only before a noun] and
[not before a noun] show any restrictions on where they
can be used.
Noun
(n)
The codes [C] and [U] show whether a noun, or
a particular sense of a noun, is countable (an agenda, two
agendas) or uncountable (AOB, awareness).
Verbs
(v)
The forms of irregular verbs are given after the
headword. The codes [I] (intransitive) and [T] (transitive)
show whether a verb, or a particular sense of a verb, has or
does not have an object. Phrasal verbs
(phr v)
are shown
after the verb they are related to.
Some entries show information on words that are related to
the headword. Adverbs
(adv)
are often shown in this way
after adjectives.
Region labels
The codes
AmE
and
BrE
show whether a
word or sense of a word is used only in American or
British English.
above board
adj
[not before a noun] honest and legal
acquire
v
[T] if one company acquires another, it buys it
acquisition
n
[C] when one company buys another or
part of another company, or the company or part of a
company that is bought
advertising campaign
n
[C] an organization’s
programme of advertising activities over a particular
period with specific aims, for example an increase in sales
or awareness of a product
agenda
n
[C] 1 a list of the subjects to be discussed at a
meeting
2 the things that someone considers important or that they
are planning to do something about
aggressive
adj
1 an aggressive plan or action is intended
to achieve its result by using direct and forceful methods
2 an aggressive person or organization is very determined
to achieve what they want
alliance
n
[C] an agreement between two or more
organizations to work together
AOB
n
[U] any other business; the time during a meeting
when items not on the agenda can be discussed
application
n
[C] 1 a formal, usually written, request for
something or for permission to do something
2a formal request for work
3a practical use for something
4a piece of software for a particular use or job
apply
v
1 [I] to make a formal, usually written request for
something, especially a job, a place at university, or
permission to do something
2 [T] to use something such as a law or an idea in a
particular situation, activity, or process
3 [I,T] to have an effect on someone or something, or to
concern a person, group, or situation
approximate
adj
an approximate amount, number etc is a
little more or a little less than the exact amount, number
etc —
approximately
adv
asset
n
[C] something belonging to an individual or a
business that has value or the power to earn money
attend
v
[I,T] to go to an event such as a meeting
attribute
n
[C] a characteristic, feature, or quality
awareness
n
[U] knowledge or understanding of a
particular subject, situation, or thing
background
n
[C] someone’s past, for example their
education, qualifications, and the jobs they have had
balance sheet
n
[C] a document showing a company’s
financial position and wealth at a particular time. The
balance sheet is often described as a ‘photograph’ of a
company’s financial situation at a particular moment
bankrupt
1
n
[C] someone judged to be unable to pay their
debts by a court of law, and whose financial affairs are
handled by a court official until the debts are settled
bankrupt
2
adj
not having enough money to pay your
debts
bankrupt
3
v
[T] to make a person, business, or country go
bankrupt
bankruptcy
nplural
bankruptcies
[C,U] when someone
is judged to be unable to pay their debts by a court of law,
and their assets are shared among their creditors (=those
that they owe money to), or a case of this happening
bank statement
n
[C] information sent regularly by a
bank to a customer, showing the money that has gone into
and out of their account over a particular period
barrier to trade
also
trade barrier
nplural
barriers
to trade
[C] something that makes trade between two
countries more difficult or expensive, for example a tax
on imports
benchmark
n
[C] 1 something that can be used as a
comparison to judge or measure other things
2 good performance in a particular activity in one
company that can be used as a standard to judge the same
activity in other companies —
benchmark
v
[T],
benchmarking
n
[U]
benefits package
n
[C] the total amount of pay and all
the other advantages that an employee may receive such
as bonuses, health insurance, a company car etc
bid
1
n
[C] 1 an offer to buy something, for example a
company in a takeover, or the price offered
2 an offer to do work or provide services for a fixed price,
in competition with other offers
bid
2
v past tense and past participle
bid
present participle
bidding
1 [I,T] to offer to pay a particular price for
something, for example a company in a takeover
2 [I] to offer to do work or provide services for a fixed
price, in competition with others
—
bidding
n
[U]
billboard
n
[C]
AmE
a large sign used for advertising.
Billboards are usually called hoardings in British English
blueprint
n
[C] a plan for achieving or improving
something
168
Glossary
board
also
board of directors
n
[C usually singular]
the group of people who have been elected by
shareholders to manage a company
bonus
n
[C] an extra amount of money added to an
employee’s wages, usually as a reward for doing difficult
work or for doing their work well
boom
1
n
[C,U] 1 a time when business activity increases
rapidly, so that the demand for goods increases, prices and
wages go up, and unemployment falls
2a time when activity on the stockmarket reaches a high
level and share prices are very high
boom
2
v
[I] if business, trade, or the economy is booming,
it is very successful and growing
brand
1
n
[C] a name given to a product or group of
products by a company for easy recognition
brand
2
v
[T] to give a name to a product or group of
products
branded
adj
branded goods or products have brand
names
branding
n
[U] the activity of giving brand names to
products, developing people’s awareness of them etc
brand leader
n
[C] the brand with the most sales in a
particular market
brand loyalty
n
[U] the degree to which people buy a
particular brand and refuse to change to other brands
brand manager
n
[C] someone in a company
responsible for developing a brand
brand stretching
n
[U] when a company starts to use an
existing brand name on a different type of product, hoping
that people will buy it because they recognize the name
bribe
1
n
[C] money that is paid secretly and dishonestly to
obtain someone’s help
bribe
2
v
[T] to dishonestly give money to someone to
persuade them to do something that will help you
bribery
n
[U] dishonestly giving money to someone to
persuade them to do something to help you
broker
n
[C] a person or organization whose job is to buy
and sell shares, currencies, property, insurance etc for
others
bureaucracy
nplural
bureaucracies
1 [C] a system of
governing that has a large number of departments and
officials
2 [U]
disapproving
all the complicated rules and
processes of an official system, especially when they are
confusing or responsible for causing a delay
buyout
also
buy-out
n
[C] 1 the act of buying a business
2 the act of buying all the shares in a company of a
particular shareholder
cash flow
also
cashflow
n
1 [U] the amounts of money
coming into and going out of a company, and the timing
of these
2 [C,U] profit for a particular period, defined in different
ways by different businesses
cash generation
n
[U] money that a company gets from
sales after costs are taken away. Cash generation is often
used in talking about the degree to which the company is
able to do this
chair
n
[singular] 1 the position of being the chairman of a
company or organization or the person who is chairman
2 the position of being in charge of a meeting or the
person who is in charge of it
—
chair
v
[T]
Chief Executive Officer
(CEO)
n
[C usually singular]
the manager with the most authority in the day to day
management of a company, especially in the US. The job
of CEO is sometimes combined with others, such as that
of president
clock
v
clock in/on
phr v
[I] to record on a special card or
computer the time you arrive at or begin work
clock off/out
phr v
[I] to record on a special card or
computer the time you stop or leave work
collapse
v
[I] if a company, organization, or system
collapses, it suddenly fails or becomes too weak to
continue
—
collapse
n
[C,U]
commission
n
[C,U] an amount of money paid to
someone according to the value of goods, services,
investments etc they have sold
compensation
n
[U] 1 an amount paid to someone
because they have been hurt or harmed in some way
2 the total of pay and benefits for an employee, especially
a high-level manager
competitive advantage
n
[C] something that helps you
to be better or more successful than others
concept
n
[C] an idea for a product, business etc
conman
n
[C] someone who tries to get money from
people by tricking them
consortium
n plural
consortiums
or
consortia
[C] a
combination of several companies working together for a
particular purpose, for example in order to buy something
or build something
consumer behaviour
BrE
consumer behavior
AmE
n
[U] how, why, where, and when consumers buy things,
and the study of this
controlling interest
n
[C,U] the situation where one
shareholder owns enough shares to control a company
controlling shareholder
also
majority shareholder
n
[C] someone who owns more than half the shares in a
company
copycat product
[C] a product that copies a
competitor’s idea for a product
core
adj
core business/activity/product
the business,
activity etc that makes most money for a company and
that is considered to be its most important and central one
corrupt
1
adj
using power in a dishonest or illegal way in
order to get money or an advantage of some kind
corrupt
2
v
[T] to encourage someone to behave in an
immoral or dishonest way —
corrupted
adj
,
corruptible
adj
,
corruptibility
n
[U]
corruption
n
[U] 1 the crime of giving or receiving
money, gifts, a better job etc in exchange for doing
something dishonest or illegal that helps another person or
company
2 when someone who has power or authority uses it in a
dishonest or illegal way to get money or an advantage
counterfeit
1
adj
made to look exactly like something
else, usually illegally
counterfeit
2
v
[T] to copy something so that it looks like
something else, usually illegally —
counterfeiter
n
[C]
crash
1
n
[C] 1 a time when many investments lose their
value very quickly, usually when investors lose
confidence in the market and sell
2 an occasion when a computer or computer software
suddenly and unexpectedly stops working or fails to work
properly
crash
2
v
1 [I] if stockmarkets, shares etc crash, they
169
Glossary
suddenly lose a lot of value
2 [I,T] if a computer crashes, or if you crash a computer,
it suddenly and unexpectedly stops working
crisis
nplural
crises
[C,U] 1 a period or moment of great
difficulty, danger, or uncertainty, especially in politics or
economics
2a time when a personal problem or situation has reached
its worst point
culture
n
[C,U] 1 the ideas, beliefs, and customs that are
shared and accepted by people in a society
2 the attitudes or beliefs that are shared by a particular
group of people or in a particular organization
customs
n
[U] the government department responsible
for collecting the tax on goods that have been brought into
the country and making sure that illegal goods are not
imported or exported
deceit
n
[C,U] when someone tries to gain an advantage
for themselves by tricking someone, for example by
making a false statement
deceive
v
[T] to make someone believe something that is
not true in order to get what you want
decline
v
[I] 1 if an industry or country declines, it
becomes less profitable, productive, wealthy etc
2 if sales, output, production etc decline, they become less
—
decline
n
[C,U]
defect
n
[C] a fault or the lack of something that means
that a product etc is not perfect —
defective
adj
,
defectively
adv
demand
n
[U] 1 spending on goods and services by
companies and people in a particular economy
2 the total amount of a type of goods or services that
people or companies buy in a particular period
3 the total amount of a type of goods or services that
people or companies would buy if they were available
demerge
v
[I,T] if a company or unit demerges from a
group, or if it is demerged, it becomes a separate company
—
demerger
n
[C]
deregulate
v
[T] if a government deregulates a particular
business activity, it allows companies to operate more
freely so as to increase competition —
deregulation
n
[U]
devious
adj
using dishonest tricks and deceiving people
to get what you want —
deviously
adv
,
deviousness
n
[U]
differentiation
n
[U] when a company shows how its
products are different from each other and from
competing products, for example in its advertising
—
differentiate
v
[T]
disclosure
n
1 [C,U] the duty of someone in a
professional position to inform customers, shareholders
etc about facts that will influence their decisions
2 [U] the act of giving information about someone by an
organization or person who would normally have to keep
that information secret, for example when a bank gives
information about a customer’s accounts to the police
3 [C] a fact which is made known after being kept secret
dismissal
n
[C,U] when someone is removed from their
job by their employer
disposal
n
1 [U] the act of getting rid of something
2 [C] an asset that is sold, and the act of selling it
dispose
v
[T] 1 if you dispose of something, you get rid
of it
2
formal
if a company disposes of a particular asset,
activity etc, it sells it
distribution channel
also
distribution chain
n
[C]
the way a product is made available and sold, the
organizations involved etc
diversify
v
[I] 1 if a company or economy diversifies, it
increases the range of goods or services it produces
2 to start to put your money into different types of
investments in addition to the investments you already
have
—
diversification
n
[U]
downmarket
1
also
downscale
AmE adj
involving
goods and services that are cheap and perhaps not of very
good quality compared to others of the same type, or the
people that buy them
downmarket
2
also
downscale
AmE adv
go/move
downmarket/downscale
to start buying or selling
cheaper goods or services
dress code
n
[C] the way that you are expected to dress
in a particular situation, as an employee of a particular
company etc
drive
n
1 [U] someone’s energy, motivation, and ability to
work hard
2 [C usually singular] an effort to improve or increase the
level of something
drop
1
v
1 [I] to fall to a lower level or amount
2 [T] to stop doing or planning something
drop away/off
phr v
[I] to become lower in level or
amount
drop
2
n
[C usually singular] if there is a drop in the
amount, level, or number of something, it goes down or
becomes less
dumping
n
[U] the activity of selling products in an
export market cheaper than in the home market, or
cheaper than they cost to make, usually in order to
increase market share
durable
adj
if something is durable, it lasts a long time —
durability
n
[U]
economies of scale
n
[plural] the advantages that a
bigger factory, shop etc has over a smaller one because it
can spread its fixed costs over a larger number of units
and thus produce or sell things more cheaply
economy drive
n
[C] a planned effort by an organization
to reduce costs
endorse
v
[T] if someone, usually famous, endorses a
product, they say how good it is in advertisements. People
will buy the product because they like or trust the person
—
endorsement
n
[C,U]
ethical
adj
1 connected with principles of what is right
and wrong
2 morally good or correct —
ethically
adv
ethics
n
[plural] moral rules or principles of behaviour
that should guide members of a profession or organization
and make them deal honestly and fairly with each other
and with their customers
etiquette
n
[U] the formal rules for polite behaviour
expand
v
1 [I,T] to become larger in size, amount, or
number, or to make something larger in size, amount, or
number
2 [I] if a company expands, it increases its sales, areas of
activity etc
—
expansion
n
[U]
extort
v
[T] to illegally force someone to give you money
by threatening them —
extortion
n
[U]
facility
nplural
facilities
1 [C] a place or large building
which is used to make or provide a particular product or
170
Glossary
service
2
facilities
[plural] special buildings or equipment that
have been provided for a particular use, such as sports
activities, shopping or travelling
fake
1
adj
made to look like something valuable or genuine
in order to deceive people
fake
2
n
[C] a copy of an original document, valuable
object etc that is intended to deceive people into believing
it is the real document, object etc
fall
1
v past tense
fell
past participle
fallen
v
[I] to go down
to a lower price, level, amount etc
fall
2
n
[C] 1 a reduction in the amount, level, price etc of
something
2 when a person or organization loses their position of
power or becomes unsuccessful
fiddle
n
[C]
BrE informal
1 a dishonest way of getting
money or not paying money
2
be on the fiddle
to be getting money dishonestly or
illegally
flaw
n
[C] 1 a mistake or weakness in a machine, system
etc that prevents it from working correctly
2a mistake in an argument, plan, or set of ideas
flexible
adj
1 a person, plan etc that is flexible can change
or be changed easily to suit any new situation
2 if arrangements for work are flexible, employers can
ask workers to do different jobs, work part-time rather
than full-time, give them contracts for short periods etc.
Flexible working also includes job-sharing and working
from home —
flexibility
n
[U]
flexitime
BrE
also
flextime
AmE n
[U] a system in
which people who work in a company do a fixed number
of hours each week, but can choose what time they start
or finish work within certain limits
flight of capital
also
capital flight
n
[U] when money
is moved rapidly out of a country, usually because its
economy is doing badly or there is political uncertainty
fluctuate
v
[I] if prices, income, rates etc fluctuate, they
change, increasing or falling often or regularly
fluctuating
adj
fluctuation
n
[C,U] the movement of prices, income,
rates etc as they increase and fall
focus
n
[U] when a company serves particular groups of
customers in a market with particular needs, rather than
serving the whole market
focus group
n
[C] a group of people brought together to
discuss their feelings and opinions about a particular
subject. In market research, focus groups discuss their
opinions of products, advertisements, companies etc
franchise
1
n
[C] 1 an arrangement in which a company
gives a business the right to sell its goods or services in
return for payment or a share of the profits
2a particular shop, restaurant etc that is run under a
franchise, or a company that owns a number of these
franchise
2
v
[I,T] to sell franchises to people —
franchising
n
[U]
franchisee
n
[C] someone who is sold a franchise and
operates it
free port
n
[C] a port where import duty does not have to
be paid on imports that are to be sent to another country to
be sold, or used to manufacture goods that will be sold
abroad
gambling
n
[U] the practice of risking money or
possessions on the result of something uncertain, for
example a card game or a sporting event such as a horse
race
global
adj
1 affecting or involving the whole world
2 including and considering all the parts of a situation
together, rather than the individual parts separately
—
globally
adv
global economy
n
[singular] the economy of the world
seen as a whole
globalization
also
-isation
BrE n
[U] the tendency for
the world economy to work as one unit, led by large
international companies doing business all over the world
globalize
also
-ise
BrE v
[I,T] if a company, an industry,
or an economy globalizes or is globalized, it no longer
depends on conditions in one country, but on conditions in
the world as whole
goodwill payment
n
[C] a payment made by a supplier
to a customer because of a problem the customer has had,
for example with quality or late delivery of goods
gross domestic product
(GDP)
n
[singular] the total
value of goods and services produced in a country’s
economy, not including income from abroad
gross domestic product per capita
n
[singular] the
total value of goods and services produced in a country
divided by the number of people living there
grow
v past tense
grew
past participle
grown
1 [I] to
increase in amount, size, or degree
2 [T] if you grow a business activity, you make it bigger
growth
n
[U] an increase in size, amount, or degree
headquarters
n
[plural] the head office or main building
of an organization —
headquartered
adj
hoarding
n
[C] a large sign used for advertising.
Hoardings are called billboards in American English
hot-desking
n
[U] when people working in an office do
not each have their own desk, but work where there is one
available
incentive
n
[C] something which is used to encourage
people, especially to make them work harder, produce
more or spend more money
income statement
n
[C]
AmE
a financial document
showing the amount of money earned and spent in a
particular period of time by a company. This is usually
called the profit and loss account in British English
incremental
adj
1 an incremental process is one where
things happens in small steps
2 an incremental amount, sum etc is small when
considered by itself
industrial espionage
n
[U] the activity of secretly
finding out a company’s plans, details of its products etc
infant industry
n
[C] an industry in its early stages of
development in a particular country. Some people think
that infant industries should be helped with government
money and protected from international competition by
import taxes etc
infrastructure
n
[C,U] 1 the basic systems and structures
that a country needs to make economic activity possible,
for example transport, communications, and power
supplies
2 the basic systems and equipment needed for an industry
or business to operate successfully or for an activity to
happen
innovate
v
[I] to design and develop new and better
products —
innovator
n
[C]
171
Glossary
innovation
n
1 [C] a new idea, method, or invention
2 [U] the introduction of new ideas or methods
innovative
adj
1 an innovative product, method, process
etc is new, different, and better than those that existed
before
2 using clever new ideas and methods —
innovatively
adv
insider trading
n
[U] when someone uses knowledge of
a particular company, situation etc that is not available to
other people in order to buy or sell shares. Insider trading
is illegal
integrity
n
[U] 1 the state of being united or kept together
as one whole, and therefore strong, unit
2 complete honesty
interest
n
1 [U] an amount paid by a borrower to a lender,
for example to a bank by someone borrowing money for a
loan, or by a bank to a depositor (=someone keeping
money in an account there)
2 [U] the interest rate at which a particular sum of money
is borrowed and lent
3 [U] the part of a company that someone owns
4 [C] the possession of rights, especially to land, property
etc
interpreter
n
[C] someone who translates what someone
says from one language into another, especially as their
job
inventory
nplural
inventories
[C,U]
AmE
1 a supply of
raw materials or parts before they are used in production,
or a supply of finished goods. Inventories of raw materials
or parts are usually called stocks in British English
2a supply of goods, kept for sale by a shop or other
retailer. Inventories of goods are usually called stocks in
British English
inventory control
n
[U]
AmE
making sure that supplies
of raw materials, work in progress, and finished goods are
managed correctly. Inventory control is called stock
control in British English
ISO
n
1 the name used internationally for the International
Organization for Standardization, whose purpose is to
establish international standards for services, goods, and
industrial methods
2
ISO 9000
the ISO’s quality standard for companies
producing goods
3
ISO 9001/9002
the ISO’s quality standards for
companies providing services
jet lag
n
[U] the tired and confused feeling you can get
after flying a very long distance
jingle
n
[C] a short song or tune used in advertisements
joint venture
n
[C] a business activity in which two or
more companies have invested together
kickback
n
[C]
informal
a bribe (=money that is paid
secretly and dishonestly to obtain someone’s help)
KISS
informal
keep it simple, stupid; keep it short and
simple. Used to say that a method for doing something
should be kept simple, in order to avoid mistakes
knowledge worker
n
[C] someone whose job involves
dealing with information, rather than making things
labor union
n
[C]
AmE
an organization representing
people working in a particular industry or profession,
especially in meetings with their employers. Labor unions
are called trade unions in British English
laisser-faire
also
laissez-faire
n
[U] the idea that
governments should do as little to the economy as
possible and allow private business to develop without the
state controlling or influencing them
launch
1
v
[T] 1 to show or make a new product available
for sale for the first time
2 to start a new company
3 to start a new activity, usually after planning it carefully
launch
2
n
[C] 1 an occasion at which a new product is
shown or made available for sale or use for the first time
2 the start of a new activity or plan
letter of credit
(l/c)
n plural
letters of credit
[C] in
foreign trade, a written promise by an importer’s bank to
pay the exporter’s bank on a particular date or after a
particular event, for example when the goods are sent by
the exporter
level
1
n
[C] 1 the measured amount of something that
exists at a particular time or in a particular place
2 all the people or jobs within an organization, industry
etc that have similar importance and responsibility
level
2
v past tense and past participle
levelled
BrE
also
leveled
AmE present participle
levelling
BrE
also
leveling
AmE
level off/out
phr v
[I] to stop climbing or growing and
become steady or continue at a fixed level
liability
n
1 [singular] an amount of money owed by a
business to a supplier, lender, or other creditor
2
liabilities
[plural] the amounts of money owed by a
business considered together, as shown in its balance
sheet
3 [U] a person’s or organization’s responsibility for loss,
damage, or injury caused to others or their property, or for
payment of debts
liberalize
also
-ise
BrE v
[T] to make a system, laws, or
moral attitudes less strict —
liberalization
n
[U]
limited company
also
limited liability company
n
[C] a company where individual shareholders lose only
the cost of their shares if the company goes bankrupt, and
not other property they own
logo
nplural
logos
[C] a design or way of writing its
name that a company or organization uses as its official
sign on its products, advertising etc
loophole
n
[C] a small mistake in a law that makes it
possible to do something the law is supposed to prevent
you from doing, or to avoid doing something that the law
is supposed to make you do
lose
v past tense and past participle
lost
present participle
losing
[T] 1 to stop having something any more, or to
have less of it
2 to have less money than you had before or to spend
more money than you are receiving
3 to fall to a lower figure or price
4
lose something (to sb/sth)
to have something such
as a contract or customers taken away by someone or
something
5
lose ground
to become less in value or to lose an
advantage
loss
n
1 [C,U] the fact of no longer having something that
you used to have
2 [C] when a business or part of a business spends more
money in costs than it gets in sales in a particular period,
or loses money on a particular deal, problem etc
loyal
adj
if customers are loyal to a particular product,
they continue to buy it and do not change to other
products —
loyalty
n
[U]
margin
also
profit margin
n
[C,U] the difference
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