Business English Vocabulary for Professionals

As an English teacher, I know that any professional who seeks to engage in the world of work must be able to speak English with a business perspective. Whether you are presenting at meetings, communicating via emails, or even making agreement deals, such a type of English can give you a competitive edge in shaping the impression as well as doing your job aptly. In this piece, we will focus on the Business English vocabulary that is usually seen or utilized in professional practice and include phrases and words used in everyday business interactions when socializing in a business environment.

1. Meetings and talks

Meetings and talks events are ubiquitous and form an integral activity for any professional. The following vocabulary will enhance your ability and competence to engage and articulate your thoughts during such events.

Agenda : A document that contains the items intended for discussion during a meeting.
Example sentence: Let us look at the agenda before we begin the meeting.
Minutes : The points or issues that have been put down in writing after a meeting has ended.
Example sentence: I'd appreciate it if I could receive the minutes of that meeting.
Consensus : A decision reached by most of the members of the deliberating body.
Example sentence: After a lengthy debate, we finally arrived at a consensus with regard to the project plan.
Action items : Those tasks that are supposed to be performed after a meeting.
Example: Let's allocate the big tasks before we bring the meeting to an end.
Stakeholders : Such persons or groups as may have an interest in the outcome of the project or decision.
Example: It's vital to bring all the stakeholders up to date with regard to our activities related to the project.
Pitch : A presentation or offer, especially one in which the intention is to sell something, especially a product, service, or an idea.
Example: She gave an excellent pitch for the entire post new marketing strategy.
Feedback : Remarks or suggestions for change.
Example: Is it possible to receive feedback about the newest version of the report?
Follow-up : Action or communication which takes place after a meeting or event in order to check the status of further actions or to clarify some matters which still remain ambiguous.
Example: I will be sending a follow-up call to this message to reiterate the action that should have been taken next.

2. Negotiation and Sales

Negotiation is inevitable in business, be it in concluding sales or discussing terms. Here's some important vocabulary for sales and negotiations:

Negotiation : A conversation that aims to reach an agreement with one or more others concerning particular terms.
Example: We are knew in the last phases of the negotiation with the supplier.
Contract : An agreement between two or more people in a legal form.
Example: The contract will be signed as soon as the two parties have reached an agreement with one another as to the terms of the contract.
Proposal : It is a plan, suggestion in a more structured way which is drawn out and can be accepted or declined.
Example: It is evident that we have submitted a proposal for the new project.
Deal : Something that may assist in doing business or any practical transactions and which has been agreed upon in consideration of arguments.
Example: A deal is made to make sure the company is able to supply raw materials for two years.
Bargain : To come to terms regarding something's value or provision for it.
Example: In the purchase of office supplies, we were able to bargain for a lower price.
Revenue : A source of funds that an enterprise generates at any period or month.
Example: In this quarter, our company's revenue level raised by 20%.
Profit margin : The estimated level of percentage between selling price and cost price of that item sold during a certain period of time.
Example: We have considered the fact that profit margins will be subject to increase in the next financial year.
Commission : A commission is a payment made to an employee for achieving or making a sale of any required item or service.
Example: It is known that all sales representatives receive a 5% commission on all deals they close.

3. Financial Terms

Understanding financial terms is something important and critical in the life of any worker, in particular, when there is discussion on the budget, costs and results of the company.

Budget : A scheme which shows the plan of spending funds on a certain activity or activities over a time scale.
Example: In other investors' eyes the developed country's budget can become appealing due to certain risk factors.
Expenditure : The monetary value of inputs into production processes used by a company.
Example: The company's annual expenditure on labor costs is approximately this amount of money.
Profit : The financial benefit that is derived from the sales of goods, subtracting all the costs incurred in producing and selling them.
Example: The company's product was able to make a large profit in the last financial year as sales were boosted by new marketing strategies.
Loss : A negative financial return; an amount of money which has increased expenses while revenue generation has been low.
Example: We need to examine the factors contributing to the loss for this quarter.
Investment : The monetary resources supplied to a firm for operation and anticipates returns wellbeing for a certain period.
Example: New investments are needed so as to boost growth for our new ventures.
Return on Investment (ROI) : An accounting measure developed in order to help in evaluation of investment endeavors in a firm.
Example: This project witnessed a higher than anticipated ROI.
Assets : Economic resources or properties owned by an organization that are of use in running the business.
Example: Some of the company's assets are land, machinery and cash in banks.
Liabilities : Financial claims over the assets owned by a business firm and these can include loans taken.
Example: For this company to be in a strong state, our liabilities have to be reduced.

4. Communication and Correspondence

Communication is one of the most important activities in the business world. Having knowledge of the right vocabulary during writing and other verbal activities means you will be able to communicate your thoughts in an accurate and presentable manner.

Memo : A memo is a short and direct message used for internal communication in an organization.
Example: Let me send a memo to all of the departments in respect to the changes in the policies.
Proposal : A proposal is any offer or suggestion, usually in writing, that tries to solve a problem or initiate action for a particular project.
Example: I put forth the proposal for the advertisement of the new marketing campaign.
Inquiry : An inquiry is an act of questioning or a request to an individual for facts or information.
Example: They made an inquiry as to whether our product is available for other regions.
Confirmation : A confirmation can be that of an action or a statement that shows validation for a claim made.
Example: I need proper confirmation on the time for the meeting so as to send the invitations.
Attachment : An attachment is a document that is usually added or enclosed in an email message.
Example: I have sent you the recent report as an attachment for you to read through.
Clarification : A clarification is an interpretation that makes a statement or other concept easier to understand or comprehend.
Example: What are the reasons for the budget numbers posted in the report to be raised?
Enclosure : An article of writing and its accompanying items with letters.
Example: Kindly find attached contract with this e-mail.
Correspondence : Any written communication, especially letters and emails.
Example: There has been a very formal correspondence between the two establishments.

5. Teamwork and Leadership

No business activity is performed alone. Below are key terms associated with working together with other people, managing other people, and leading other people.

Collaboration : Working interchangeably with others to resolve a conflict or achieve a common target.
Example: Collaboration across different departments is necessary for the success of the project.
Delegate : To authorize another person to perform a particular task or duty.
Example: As a manager, it is appropriate for you to delegate responsibilities among the members of your team.
Teamwork : The work done by a group or team in aiming for a certain common goal.
Example: The ability for teamwork is important especially since we are working to meet specific project deadlines.
Leadership : This is the process of influencing a person or a group of people to achieve their goals.
Example: Proper leadership helps in generating a strong team spirit towards the team's goals.
Responsibility : When a person undertakes certain tasks or makes a decision, this person will be held responsible for it.
Example: You are in charge of seeing to it that the report in question is done and submitted on time.
Motivate : To give thanks and encouragement to someone, to take action.
Example : An efficient leader always knows how to motivate the people working together in a team.
Collaboration : Working alongside other people towards achieving a common purpose.
Example : This campaign requires collaboration from the two teams, marketing and sales.
Deadline : The last of all dates available for carrying out a particular assignment.
Example : The deadline for receipt of the proposal shall be on Friday.

6. Professional Development

It seems almost impossible nowadays to find a professional in this day and age and not be ambitious and strive for more. The following is some vocabulary that is associated with a career in business and the drive for self-improvement.

Training : The act of teaching or learning skills generally desired to make an employable person for that particular job.
Example : New hires receive training in company policies as well as procedures.
Skill set : One's group of abilities and talents needed to perform a particular task.
Example : She qualifies among those with a great skill set in analytical data and management of projects.
Mentor : One who is in a higher position and guides / advises somebody with a lower rank.
Example : My mentor helped me out in sharpening my executive qualities.
Networking : To strategically seek and build relationships that complement your profession.
Example : It is essential to attend conferences to meet new specialists and other people working in the same field.
Movement : A change to a higher position in the hierarchy of the organization which is accompanied with more duties and obligations.
Example : I was promoted to team leader after three years of working in the company.