It’s time to step up your Business Language vocabulary because, why not? Doing business in an international market requires you to know at least some basic English.
Today we’ll help you improve your proficiency in Business language using vocabulary.
Business Vocabulary for Teams
In case you’re reading this and not aware of what Business language is, here’s a rundown before we dive into the vocabulary of Business English phrases.
Business Language is more commonly called Business English. It’s what’s used in business communication. It is no different from the English spoken regularly but you must keep in mind that English is the language used for worldwide commerce and international trade.
In addition to this, Business English serves the specific purpose of doing business globally. It’s essential to use the right terminology in a business meeting, and as such, you need to keep your formal communication skills up to date and in line with the latest business news.
That said, let’s now dive into some important words and phrases you should know that is part of the language of business.
Market Research
This is a phrase you’re bound to come across when initiating business deals or having discussions about how to navigate the current market.
Market Research in this case makes reference to a collection of research carried out to gather information about customer behaviors; their likes and dislikes and to get an idea of what is or isn’t working for your business.
Commercial Activity
You may be familiar with the word commercial in reference to advertising. Commercial activity on the other hand is any activity that involves any type of exchange within the market for the intention of making an economic profit.
Authorization
For the purpose of Business Language, authorization is a legal term that is derived from the verb to authorize. Here this word means to give someone approval to carry out an action.
Strategy
In the world of business, a strategy is defined as a detailed plan. It is carefully put together by key members of a team to ensure there is success and their goal or target is met.
Estimate
The word estimate has to do with value, costing and size. When you give an estimate nothing is exact, instead ‘ballpark figures’ are used so that everyone can have a general idea.
Competitor
In business there’s always a business or 2 or 3 you need to look out for. They are known as competitors. A competitor is any business trying to outperform you within the same market
Offer
You might have heard ‘the offer is on the table’, at some point in time. Whether you have or haven’t, the word offer here means that any proposal that has been discussed is now approved and now is now legally binding if accepted. It may also mean that something is for sale. It all depends on the context of the conversation taking place.
Counter Offer
On the flip side of an offer, there’s a counter offer. Here, counter offer means another offer being brought to the forefront by another party in response to the original offer. A counter offer is usually brought up when the first offer isn’t to everyone’s liking.
Public Relations
Of course you want your business to stand out among your competitors and foster good relationships with customers, potential customers and other stakeholders. In light of this fact, the term public relations is going to come up a lot in your conversations.
Just to note, Public Relations most often goes by the abbreviation PR and always seeks to spread only positive information about your business and your brand.
Tips on Making Use of Your New Business English Vocabulary
Now that some new words are added to your Business Language vocabulary, it’s now time to put them to good use so you won’t forget them.
Here are a few tips you can use to continuously improve your Business vocabulary:
Start Using New Business English Phrases
There’s no better way to use and retain the vocabulary you’ve learned than to put it to use as often as you can. Use them daily at work, apply them in different situations and ensure that the context is correct, Practice makes perfect.
Consume Business Content
Whether you decide to read magazines or news articles on a blog post, sign up to an email list or watch the news, keep yourself exposed to as much business-related content as possible. The more exposed you are the more familiar the material becomes for you.
Aim to Learn Something New Every Day
You may decide to take a class or use a language app or deliberately speak the business language every day; whatever works best for you, decide to learn something new every day and you’ll be well on your way.
Business Meetings Just Got a Whole Lot More Interesting!
Your Business language vocabulary just got better and we’re happy we could have helped. Of course, learning and practicing Business English phrases is only one part! Let our BPO Services help you with the rest through our suite of services that are part of business services.
Our staff is ready to serve and give you a quote at any time. Click here to get started.