Advanced English Vocabulary - Business Flashcards
Word 1: Value for money (noun)
Meaning: The quality level of a product compared to its price. Technically is neutral, but ‘value for money’ is often used to mean ‘good value for money’.
ارزش خرید دارد
Synonyms (good value for money): Good value; Reasonable; Worth the money (both adjectives)
Synonyms (bad value for money): Overpriced;
Collocations: To offer value for money; Great/Outstanding/Exceptional value for money; Terrible value for money; Better/The best value for money; To provide value for money
Example Sentence: If a company offers exceptional value for money, they are likely to have plenty of customers.
Word 2: Entrepreneur (noun)
Meaning: Someone who starts or has started new companies.
Word Family: Entrepreneurial (adj)
Synonyms: Founder; Businessman; Businessperson; Mogul (all nouns)
Collocations: To have/need/show entrepreneurial spirit; A
successful/famous entrepreneur; A serial entrepreneur; A visionary entrepreneur; A budding entrepreneur
Example Sentence: Visionary entrepreneurs like Jack Ma and Elon Musk have the power to change the world.
Ilan Musk is a serial entrepeneur
Word 3: The bottom line (noun)
Meaning: A company’s profit (the money they make after costs are removed).
Synonyms: Net profit; Operating profit (nouns, used in more formal situations)
Antonyms: Operating costs; Running costs; Overheads (all nouns)
Collocations: To focus on the(ir) bottom line; To only care about the bottom line; To affect the bottom line; To improve the bottom line
Example Sentence: Companies which only focus on their bottom line often ignore their ethical and community responsibilities.
Word 4: Generate revenue (phrasal verb)
Meaning: To earn money for a company. Note – **not the same as earning a salary **for an individual. Also not the same as making a profit.
Word Family: Revenue Generation (noun)
Synonyms: Make money; Generate income (both phrasal verbs used in the same way)
Antonyms: Make a loss; Lose money (both phrasal verbs).
Collocations: The ability to generate revenue; The need to generate revenue
Example Sentence: New companies usually have to start generating revenue early on in order to be successful.
Word 5: Cut-throat (adjective). Note – sometimes written as cutthroat.
Meaning: A ruthless, fierce, intense situation.
Synonyms: Ruthless, Dog-eat-dog; Back-stabbing (all adjectives, used in the same way)
(When the competitions are very fierce & people fight with each other, don’t help others)
Antonyms: Inclusive; Compassionate (both adjectives)
Collocations: A cut-throat culture/environment/workplace/business/industry/competition.
Example Sentence: Some people enjoy the challenge of working in a cutthroat culture, whereas others prefer a more relaxed and compassionate environment.
Word 6: Cut costs (verb)
Meaning: To reduce the amount of money a company (or person) spends.
Word Family: Cost-cutting (noun, adjective)24
Synonyms: Reduce costs; Cut expenditure; Reduce outlays; Cut spending (all verbs)
Antonyms: Waste money; Squander money (both negative verbs)
Collocations: Be under pressure to cut costs; The need to cut costs; Avoid cutting costs
Example Sentence: Many managers are under pressure to cut costs by making workers redundant.
Making workers redundant:
Fire workers when they don’t need them anymore
Word 8: Multinational corporation (noun)
Meaning: A large company with operations in many countries.
Synonyms: MNC; Multinational Company; Multinational Enterprise;
Transnational Corporation (all nouns)
Antonyms: A local company; A national company; A domestic company (all nouns)
Example Sentence: Multinational corporations have a big responsibility to treat their employees well and protect the local areas in which they operate.
Word 7: Rules and regulations (noun)
Meaning: Legal restrictions that a company faces e.g. not polluting the local area, or inside a company e.g. coming to work on time.
Collocations: Extensive rules and regulations; To be against all rules and regulations; To impose rules and regulations; To reduce rules and regulations; To follow rules and regulations
Example Sentence: The government can help companies to grow by reducing rules and regulations.
Word 9: A start-up / A start-up company (noun/adjective)
Meaning: A new company, often (but not always) associated with
technology. Generally assumed to have the ability to grow quickly.
Synonyms: A new venture (noun)
Antonyms: An established company; An existing company (both nouns)
Collocations: To work for a start-up; To be the founder of a start-up;
A small/new start-up; A fast-growing start-up; A tech(nology) start-up; An exciting/cool start-up
Example Sentence: People who work for fast-growing start-ups are often extremely busy, but the rewards could be enormous.
Word 10: Unique selling point (noun)
Meaning: A special characteristic of a company/product that can make it successful.
Synonyms: USP; Distinguishing feature; Competitive advantage; Point of difference (all nouns)
Collocations: A product’s unique selling point; A powerful unique selling point; To find a unique selling point; A company’s unique selling point
Example Sentence: JingDong’s unique selling point is that they promise to deliver products the same day that the customer buys them.
Passage
The really important thing for any company, whether you are a multinational corporation or a start-up, is to have a unique selling point. it’s a dog-eat-dog world out there, and the competitions are cut-throat. Any entrepreneur who wants to generate serious revenue has to find his company’s special sauce.
What do you think is important for a business’ success?
I think giving good value for money is very important. No one wants keep buying from a company if they feel like they are wasting their money!
What is more important for business - cutting cost, or generating revenue?
Well, it depends really. You can’t grow if you don’t generate revenue, but you have to keep costs low as well, otherwise you will never improve your bottomline.
What is more important for business - cutting cost, or generating revenue?
Well, it depends really. You can’t grow if you don’t generate revenue, but you have to keep costs low as well, otherwise you will never improve your bottomline.
