executive english
Avoid Mistakes: Business Terms That May Confuse You!
There is a range of business terms and words you will need to know before you can confidently enter the business field in an English-speaking country or communicate with English-speaking business associates. But beware, some words are commonly confused and used incorrectly. Here are the top 10 pairings of words to take note of:
1. Accept vs Except
Accept - to agree to (a verb)
e.g. I accept the proposition you have put forward.
Except - not including (a preposition)
e.g. Everyone has been counted except those who are not present.
2. Advice vs Advise
Advice - an opinion or recommendation from another person (a noun)
e.g. What advice would you give me regarding this matter?
Advise - to offer an opinion or suggestion to someone else (a verb)
e.g. I would advise you not to go ahead with the plans.
3. Council vs Counsel
Council - an assembly or body of persons that carry out a role (a noun)
e.g. The council of employees will speak on everybody’s behalf.
Counsel - a piece of advice (a noun) / to give advice (a verb)
e.g. We would like to take come counsel from the previous manager/ He was counseled by our staff.
4. Borrow vs Lend
Borrow - to obtain with the promise to return
e.g. We will have to borrow more money from the bank.
Lend - to grant the use of, on the promise that it is returned
e.g. We plan to lend Mr Smith a new computer until his is fixed.
5. Expand vs Expend
Expand - to increase in size
e.g. We are looking to expand the business within three months.
Expend - to use up/ pay out
We have expended all our resources on this project
6. Improve vs Improvise
Improve - to make better
e.g. We are going to improve our business strategies.
Improvise - to deliver something without time to prepare
e.g. We will have to improvise in our negotiations if it does not go according to our plan.
7. Interested vs Interesting
Interested - possessing a right or a claim to something (an adjective)
e.g. They are an interested party in this business venture.
Interesting - something that has appeal or holds attention
e.g. We found the discussion very interesting.
8. Look Over vs Overlook
Look Over - to browse or read through something
e.g. I will look over the report this afternoon.
Overlook - to neglect
e.g. I’m afraid I overlooked the request you put in yesterday.
9. Precede vs Proceed
Precede - to go or come before
e.g. The person that preceded me was very skilled.
Proceed - to go ahead with
e.g. We will proceed with the business deal unless told otherwise.
10. Personnel vs Personal
Personnel - a body of people employed by an organization
e.g. The personnel at this office are very friendly
Personal - relating to an individual person
e.g. That is my personal belief about this situation.
If you are interested in mastering your business English, opt to take ESL classes in the USA to teach you everything you need to know to be successful with your business matters. Executive English courses last from three weeks and equip you with the English you need to know for every business situation.
If you liked this article, tell all your friends about it. They’ll thank you for it. If you have a blog or website, you can link to it or even post it to your own site (don’t forget to mention our ESL blog as the original source).
17 Words to Know Before Your Next Business Meeting
If you’re scheduled to attend a business meeting carried out in Business English, you’ll want to be focused and make sure you understand all the information being shared.
Do some preparation beforehand to learn common terms, phrases and words you’re likely to hear at the meeting.
Here are 17 words you’ll want to know:
1. A.G.M
Meaning: An abbreviation for ‘Annual General Meeting’
Example: We will start the A.G.M with some company news
2. A.O.B
Meaning: An abbreviation for ‘Any Other Business’
Example: A.O.B can be discussed at the end of the meeting.
3. Adjourn
Meaning: To postpone/to suspend the meeting and recommence it at another time
Example: If we run out of time, this meeting will have to be adjourned until next week.
4. Agenda
Meaning: Written program or schedule for the meeting
Example: Please look at your agendas so you can read through the matters we will be discussing.
5. Ballot
Meaning: A form of voting - usually done in writing
Example: At the end of the meeting, we will have a ballot on the decisions we need we make.
6. Casting Vote
Meaning: The vote that will decide the outcome of a ballot or voting procedure
Example: The chairman will have the casting vote if no decision can be made or the votes are equal.
7. Chairman
Meaning: Person who presides over/governs the meeting
Example: I am the chairman of this meeting but at the next meeting there will be a new chairman.
8. Comment
Meaning: Something you wish to say or discuss
Example: If you have a comment about what is being said, please raise your hand at the end.
9. Commence
Meaning: To begin/ start
Example: This meeting will commence once everyone is comfortably seated.
10. Consensus
Meaning: A general agreement
Example: After discussing the decision with our workers, we found the consensus was they agreed with it.
11. Conference
Meaning: A formal meeting for discussion - especially one that is held at regular periods
Example: At the next conference between our managing department, we will discuss all of your issues.
12. Conference Call
Meaning: A telephone call between three or more people in different locations.
Example: We will have to address the next issue through a conference call since Mr Brown is away in Europe.
13. Item
Meaning: A separate point for discussion (usually listed on an agenda)
Example: We have three items that we need to discuss today.
14. Minutes
Meaning: The written record of everything said or discussed at a meeting
Example: Please look through the copy of the minutes taken from the last meeting.
15. Motion
Meaning: A suggestion/proposed action that needs approval
Example: There has been a motion for more chairs to be added to the office and we will take a vote on this.
16. Show of Hands
Meaning: A request to have people raise their hands to express an opinion or vote
Example: Please could we have a show of hands for people who believe we should proceed with this decision.
17. Wrap up
Meaning: To finish/ draw to an end
Example: Before we wrap up, I would like to make one more point.
If you are interested in mastering your business English, opt to take ESL lessons in the USA to teach you everything you need to know to be successful with your business matters. Executive English courses last from three weeks and equip you with the English you need to know for every business situation.
If you liked this article, tell all your friends about it. They’ll thank you for it. If you have a blog or website, you can link to it or even post it to your own site (don’t forget to mention our ESL blog as the original source).
Business Idioms You’ll Want To Know: Part One
Even as a student of Business English, you might get confused when common business idioms are used and you are unaware of their meaning. The following terms are ones that have been used by United States English speakers during business meetings or conferences. Note what they are and you’re sure to be a step ahead during business conversations.
1. Across the board
MEANING: Including everyone or everything
EXAMPLE: There was an internal restructuring across the board.
2. At a loss
MEANING: To incur a financial loss / To lose money
EXAMPLE: We may be forced to sell the remaining products at a loss.
3. At loggerheads
MEANING: In disagreement
EXAMPLE: The company owners are at loggerheads over how to proceed with our request.
4. An old hand
MEANING: Someone with long experience at something
EXAMPLE: He is an old hand at dealing with customer complaints.
5. Ball park figure
MEANING: A rough estimate or figure
EXAMPLE: We have a ball park figure for the cost of the supplies.
6. A calculated risk
MEANING: An action that may fail but has a good chance of success
EXAMPLE: We’ll have to take a calculated risk when introducing our new product to customers.
7. Cold call
MEANING: Call or approach a potential customer who has had no previous contact with the business
EXAMPLE: You’ll have to make cold calls to market our product.
8. Carve out a niche
MEANING: To find a special position to monopolize
EXAMPLE: We aim to carve out a niche among the elderly market of our customers.
9. A ‘Catch 22′ situation
MEANING: A situation that will never work
EXAMPLE: The contract we signed has placed us in a ‘Catch 22′ situation.
10. Computer bug
MEANING: A computer software corruption
EXAMPLE: Our new computer system has encountered a computer bug.
11. Deliver the goods
MEANING: To succeed in doing what is expected
EXAMPLE: If we work extra hours, we’ll be able to deliver the goods.
12. Double check
MEANING: To review a second time to make sure something is correct
EXAMPLE: It is important to double check every entry you make on the spreadsheet.
13. Face value
MEANING: The official worth or trust of something
EXAMPLE: The face value of the product is not much but the demand from customers will push it higher.
14. Gain ground
MEANING: To go forward/ To make progress
EXAMPLE: Our company has been gaining ground with the youth market.
15. Get a break
MEANING: To get an opportunity or a good deal
EXAMPLE: We got a break on the cost of the wheels we ordered.
16. Get off the ground
MEANING: To launch or start something successfully
EXAMPLE: We did not manage to get the product off the ground so we may have to wait until next year.
17. Hacker
MEANING: Someone who has gained access to or interfered with computer information without permission
EXAMPLE: We have a computer security system to prevent a hacker from accessing our files.
If you are interested in improving your business English, consider signing up for ESL classes in the USA to teach you everything you need to know to be successful with your business matters. Executive English courses last from three weeks and equip you with the English you need to know for every business situation.
If you liked this article, tell all your friends about it. They’ll thank you for it. If you have a blog or website, you can link to it or even post it to your own site (don’t forget to mention our ESL blog as the original source).
Get Ready To Negotiate (Part One): Important Business Terms You’ll Want To Use
If you need to negotiate a matter in the business world, you’ll want to equip yourself with good vocabulary to make yourself understood and help you understand many important negotiating terms.
Read, understand and learn the following words which you’re likely to hear during business negotiations:
1.Agent
MEANING: A person that acts for or represents a company
EXAMPLE: The company will send an agent to discuss our wishes with you.
2.Alternative
MEANING: Another option
EXAMPLE: You’ll have to find an alternative for the initial plans you had.
3.Arbitration
MEANING: The addressing / resolving of a conflict using a third impartial party
EXAMPLE: We will have to resolve this matter using arbitration if we do not reach an agreement.
4.Bottom line
MEANING: The lowest or final position someone is willing to reach
EXAMPLE: I’ll accept a 7% raise as a minimum. That’s my bottom line.
5.Bedrock price
MEANING: The lowest possible price
EXAMPLE: We want to sell you our products at bedrock price.
6.To bargain
MEANING: To try and change someone’s mind about their position
EXAMPLE: I’d like to bargain with you on that point.
7.Collective
MEANING: Together
EXAMPLE: We need to reach a decision collectively.
8.A commitment
MEANING: A pledge or promise of oneself to something or to doing something
EXAMPLE: I have a commitment to meeting your needs.
9.Compromise
MEANING: To reach an agreement with someone by both parties complying in some way to the other’s wishes
EXAMPLE: Let’s see if we can reach a compromise.
10.A condition
MEANING: Something that has to be fulfilled or given first in order for something else to happen
EXAMPLE: We will employ you once these conditions are met.
11.Consensus
MEANING: An agreement by all
EXAMPLE: It’s important that there is a consensus on this issue.
12.Contract
MEANING: A written and legal agreement between two or more parties
EXAMPLE: After our discussion, we will draw up a contract.
13.To cooperate
MEANING: To work together
EXAMPLE: Let’s cooperate on this business proposal.
14.A counter offer
MEANING: To present an alternative offer in response to an initial offer
EXAMPLE: I have a counter offer you might want to listen to.
15.Counter-productive
MEANING: Something that has the opposite effect to the one intended or needed
EXAMPLE: If we lower the price, that will be counter-productive to us.
16.A deal
MEANING: A business agreement
EXAMPLE: Let’s reach a deal on this issue.
17.Discount
MEANING: A reduction in price
EXAMPLE: We’ll offer you this product at a good discount.
If you are interested in mastering your business English, opt to take an intensive ESL program in the USA to teach you everything you need to know to be successful with your business matters. Executive English courses last from three weeks and equip you with the English you need to know for every business situation.
If you liked this article, tell all your friends about it. They’ll thank you for it. If you have a blog or website, you can link to it or even post it to your own site (don’t forget to mention our ESL blog as the original source).
Be Prepared For Employment - Understanding Salary Options
Having a good understanding of business English is important when discussing important matters related to your salary.
If you are offered a job, or need to negotiate a job contract, it will be helpful to understand the following terms related to the amount you will be paid for your work.
1. ‘Salary’ – this is the amount you will be paid for the job you have been employed for. You may be given a figure for the amount you will be paid each month, or over the space of a year.
What type of salary do you offer?
I am expecting to earn a good salary
2. A ‘competitive salary’ – this means the salary is considered to be very good for that particular job, especially in comparison to the salaries of similar jobs.
The company wasn’t recruiting the best applicants because the salary wasn’t very competitive.
We are offering a competitive salary so we can attract good applicants.
3. A ’salaried employee’ - this is a person who is on a long-term contract with a company and receiving a set amount of pay each month or year.
If you are a salaried employee, it is easier to get a loan from the bank.
Sometimes salaried employees are replaced by temporary workers when a company needs to cut costs.
4. A ’salary advance’ – this is a payment for work given before the work has been completed or before the normal date of salary pay.
Would it be possible to have a salary advance for the first month of employment?
We can work out a salary advance if needed.
5. ‘Undertaking a salary review’ – this means looking over and reviewing the pay amounts given to a company’s employees.
The company needed to undertake a salary review as their salaries weren’t very competitive.
A committee is currently undertaking a salary review for the company’s employees.
6. A ’salary scale’ - this is a range of pay amounts or salaries available.
It is easy to progress along the salary scale with this company.
Your pay will start at the bottom of the salary scale but our scale is very competitive.
7. An ‘attractive salary’ – this is a salary that is considered very good or generous.
We offer a very attractive salary for this job.
I will only accept a job with an attractive salary.
8. A ’salary increase’ – this is an increase in pay for the work you do.
Would you be able to offer me a salary increase?
We will give you a salary increase every year.
9. A ‘basic salary’ – this is the amount you will be paid before any extras such as bonuses.
The basic salary is low but there is plenty of opportunity to receive bonuses.
We offer a very good basic salary and extra benefits on top of this.
10. An ‘initial salary’ – this is the starting pay you will receive when employed, though it is expected to rise later on.
We will give you an initial salary and negotiate a higher one after a temporary period.
The initial salary is low but you will be promoted quickly.
If you are interested in mastering your business English, opt to take an intensive ESL classes in the USA to teach you everything you need to know to be successful with your business matters. Executive English courses last from three weeks and equip you with the English you need to know for every business situation.
If you liked this article, tell all your friends about it. They’ll thank you for it. If you have a blog or website, you can link to it or even post it to your own site (don’t forget to mention our ESL blog as the original source).
Be Prepared For Your Meeting - Understanding Contract Terms
Learning essential business English is important when discussing and understanding contract options. This can be useful when during business deals or even in matters of employment.
Here are some important terms to know:
1.A ‘binding contract’ – this is a contract which cannot be stopped or legally broken. We will need to draw up a legally binding contract before we can conduct business together.
The contract is legally binding and means you must supply us with these services.
2.An ‘exclusive contract’ – this prevents the person signing the contract from working with other people.
You will have an exclusive contract with us which forbids you to work for anyone else.
We wish to offer you an exclusive contract if you are happy to accept it.
3.A ‘renewable contract’ – this is a contract that can be continued or extended after its initial expiry date has finished.
We do not have renewable contracts in this company and can only give you a one-year contract.
The contract is renewable after you have finished a six-month period and we are satisfied with your work.
4.A ‘temporary contract’ – this type of contract is for a fixed period and is not permanent.
We will offer you a three-month temporary contract.
You’ll start on a temporary contract and we may offer you a permanent contract when it finishes.
5.A ‘valid contract’ – this is a contract that has a legal force.
The contract will be valid once both parties have signed it.
The letter that was sent was not a valid contract.
6.A ‘breach of contract’ - this occurs when a person does something that breaks one of the terms of the contract.
You will be in breach of contract if you refuse to work overtime.
It will be a breach of contract if deliveries aren’t received on time.
7.’Terms of contract’ – these are the conditions which are spoken of and agreed on in the contract.
The terms of the contract say you must provide 10 deliveries a month.
Your request is something that is not stated in the terms of the contract.
8.’Draw up’ a contract – this means the contract is created and written.
I will draw up a contract after our meeting
Will you draw up a new contract for me?
9.’Go through’ a contract – this means looking at a contract in detail.
We will sit down and go through the contract.
It’s important to go through the contract carefully before signing it.
10.’Get out of a contract’ – this means ending the contract agreement.
There are a few options for getting out of the contract.
Is there a legal way to get out of the contract?
If you are interested in mastering your business English, consider taking an ESL class which focuses on teaching the essentials you will need for understanding business matters in various situations. Opt for an intensive program in the USA which teaches essential business English in as little as three weeks.
If you liked this article, tell all your friends about it. They’ll thank you for it. If you have a blog or website, you can link to it or even post it to your own site (don’t forget to mention our ESL blog as the original source).
Useful Vocabulary for Business Executives - from M to Z
We’re going to go over the meaning of some business-related words. If you’re a business executive and currently attending an ESL school, it’s important that you review them once in a while so you don’t lose track of their subtleties, since these words are the basic substance of your communication. We hope the following list helps you keep your English fluent and robust. Good luck!
Marketing - The study of markets and their behavior, based mainly on statistical research, with the aim to promote, sell and distribute a product or service. Marketing mixes a wide range of practices that include advertising, publicity, promotion, pricing, and overall packaging of the goods or services.
Merger - A fusion of two previously separate corporations into a new legal entity. Previous businesses are dissolved and their assets and liabilities moved into the rising entity.
Multi-level Marketing (MLM) - A business in which a person’s source of income isn’t limited to their own sales, but also proceeds from the sales made by people they have recruited, and also by people recruited by recruited people, and so on.
Network Marketing - A business built and sustained by a distribution network. Usually, such businesses are also MLM (see above).
Networking – As the name suggests, it’s a way of developing relationships in order to gain knowledge and grow your business base.
Outsourcing – When a company uses services from another business, such as accounting, payroll, IT, advertising.
Partnership - A business made up of two or more individuals legally regarded as a group of owners rather than a single entity.
Patent - A document stating that a certain idea or concept belongs to someone (inventor), and grants the inventor’s rights to exclude others from making, using, offering for sale, or selling the invention for a limited time.
Public Relations (PR) - The deliberate promotion of a specific image for a business. Not to be confused with publicity, which refers only to the materials used in a specific stage of a public relations campaign.
Sales - The exchange of a product or service for money. It may also refer to this activity as a profession or to the department within a company that performs this activity.
Small Business Administration (SBA) - The United States Government Agency responsible of “providing customer-oriented, full-service programs and accurate, timely information to the entrepreneurial community”.
Sole Proprietorship - A business owned and run by one person.
Strategic Alliance - An ongoing relationship between two businesses in which they combine efforts for a specific purpose.
Trademark - A form of legal protection for words, names, symbols, sounds, or colors that distinguish goods and services. The main difference with patents, in this sense, is that trademarks can be renewed forever as long as they are being used in business.
Venture Capital (VC) - A form of financing for a company in exchange for partial ownership and control of the business, over a limited time period, usually 3-5 years. Investments typically range from $500,000 to $5 million, although there are occasionally VC investments for as low as $50,000 or as high as $20 million.
If you liked this article, tell all your friends about it. They’ll thank you for it. If you have a blog or website, you can link to it or even post it to your own site (don’t forget to mention www.englishlci.com as the original source).
List of Business Idioms in English for ESL Students
Words alone and out of context can mean a lot of things. That’s why phrases and contexts are what give words a tangible meaning. It’s always useful to learn idioms, ways of expressing situations shortly and clearly. These are some of the idioms you’ll probably come across in your ESL classes:
Across the board
Meaning: something that affects or includes everyone or everything
Example: The new law establishes a salary raise across the board.
Bail a company out
Meaning: helping or rescuing a company that’s going through financial problems
Example: Luckily, the government decided to bail our company out.
Calculated risk
Meaning: an action whose chances of going wrong is somehow foreseen
Example: He took a calculated risk when he decided to quit his job before getting hired by the other company.
Deliver the goods
Meaning: fulfilling what was expected
Example: We need someone suitable for this job, somebody capable of delivering the goods.
Face value
Meaning: the apparent value of something
Example: He’ll try to use his business’ face value to negotiate.
Gain ground
Meaning: to make progress
Example: I’ve been actually gaining ground in the last few months. I think I’ll get the raise.
Hard sell
Meaning: an aggressive technique of selling a product or service, by putting pressure on the clients
Example: Whenever a salesman tries a hard sale with me, I lose my appetite.
In black and white
Meaning: in written form
Example: The customer service area didn’t pay attention to my complaints until I sent them in black and white.
Jack up
Meaning: to increase the price of something
Example: The price of steel was jacked up by local companies at the beginning of the year.
Keep books
Meaning: keeping records of income and outcome
Example: The new assistant to the sales manager has no experience keeping books and has made many mistakes.
Make a go of
Meaning: to succeed
Example: I know that if you keep up the hard work your business will make a go of it.
Number-cruncher
Meaning: an accountant, a person who works with numbers
Example: Although I don’t take care of numbers anymore, the success of my business depended a lot on my being a good number-cruncher. I understood all about the finances of our company.
On hand
Meaning: ready, immediately available
Example: Since we didn’t have any supplies on hand, we were unable to finish the job.
Pay off
Meaning: to result in benefits, to make a profit
Example: If we want to go on in this business, our efforts will have to start paying off. Otherwise, we’ll end up out of business.
Red ink
Meaning: debt; indebtedness as shown in red ink on a financial statement
Example: If we, the investors, continue seeing red ink in our financial statements, they’ll leave us.
Saddled with debt
Meaning: burdened with debt
Example: The company is saddled with a great amount of debt. We have to start making some profit or sell the company as soon as possible.
Take a nosedive
Meaning: to collapse; to go into a rapid financial decline
Example: The stock market took a nosedive when the Army’s invasion plans went public.
Work out
Meaning: to plan; to find a solution to something
Example: We’ll spend whatever it takes to work out the budget estimates for next year.
If you liked this article, tell all your friends about it. They’ll thank you for it. If you have a blog or website, you can link to it or even post it to your own site (don’t forget to mention www.englishlci.com as the original source).
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