Business English Part I
- bottomline (1) the final line of a balanced sheet (2) the final result or the most important consideration of a situation/activity
- streamline (1) a design increase speed and movement (2) make a company more effective and efficient
- baseline: a fixed point of reference that is used for comparison purposes
- upstream/midstream/downstream
- buoyancy (1) an upward force exerted by a fluid that opposes the weight of a partially or fully immersed object (2) the quality of being able to make profit [Eg: buoyant market]
- benchmark: a standard or point of reference against which things may be compared
- trademark: a symbol, word, or words legally registered or established by use as representing a company or product
- hallmark: a typical characteristic of a person or thing
- revenue growth (Mom: month-over-month)
- profit margin
- (net/gross) profit ⇔ deficit
- trade deficit
- investment ⇔ deinvestment
- personal (consumer) spending: total money spent on final goods and services by individuals and households
- stockholder/shareholder
- clientele
- provider/supplier ➠ distributor ➠ consumer
- wholesale price ➠ retail (list) price
- fiscal year (financial year)
- wholesale (B2B) ➠ retail (B2C)
- procurement: the action of acquiring goods and services (tendering or competitive bidding)
Rate
- customer churn rate: aka rate of attrition (1) the rate that customer stop doing business with the entity (2) rate at which employees leave their jobs
- turnover (retention) rate: the percentage of employees who left a company over a certain period of time
- unemployment rate ⇔ participation rate
- interest rate
- bank (discount) rate: the rate at which a nation’s central bank lends money to domestic banks → the calculation of WACC
- coupon rate (fixed) ⇔ yield-to-maturity
Line
- product line
- supply chain
- assembly line (production line)
- value chain
- line of credit
Cost
- production cost (fixed and variable costs)
- manufacturing cost
- retail cost
- overhead expenses
- discretionary expenses: health insurance for employees, payroll software, and shipping costs
- compliance costs/ cost of compliance
- severance pay/package: the official ending of an agreement, especially between an employer and employee
- outlay = expenditure = spending = expenses
Eg: budgetary outlays/ healthcare outlays/ inital capital outlays
$$$
- markup= selling price - cost
- profit = revenue/sales - expenses
- net income (bottom line of the income statement)/ net earnings/ net profits
- return
- cash flow
- budget (surplus ⇔ deficit)
➼ expenses (outflow) > income (inflow) ⇒ deficit (financil health)
➼ accrued deficit ⇒ national debt
- budget shortfall: the amount of the budget is lower than expected
- budget proposal
Others
- disposable income: (paycheck) the amount of net income a household or individual has available to them to invest, save, or spend after income taxes
- discretionary income: the amount of income a household or individual has to invest, save, or spend after taxes and necessities
Company (Organization) structure — private sector
- section
- divison
- department
- venture: a business enterprise
Individual
- deposit ⇔ withdrawal
- saving account ⇔ checking account (allow frequent transactions) [minimum balance]
- payment
- intallment
- default: fail to pay a debt
➼ default rate = penalty rate [borrower/debtor/recipient ⇔ lender/creditor]
➼ Consumer credit default indexes
- loan
➸ student loan/ personal loan/ mortgage loan/amortizing loan
- bankruptcy/ insolvency
- overdraft coverage; overdraft fee; overdraft protection
Banks’ income
- interest income (interest rate spread)
- service charges
- overdraft/ATM fees
Government — public sector
- Federal Reserve
- expension ⇔ recession
- monetary policy
- Treasury securities
- T-Bill (Treasury Bill) — short-term
- T-Notes
- T-Bonds
- Treasury Inflation Protected Securities (TIPS)
- inflation ⇔ deflation
- fiscal deficit: calculated as a percentage of gross domestic product (GDP)
- national/federal debt
Quick GMAT vocab
- corroborate = validate = confirm = bolster = substantiate = vertify: add prove to a statement with new info
Eg: corroborating testimony
- posit = postulate: suggest something as basic fact or principle
- mechanism: a system, process to achieve a result
- contention: a point advanced or maintained in a debate or argument
- maintain = assert
- assertion: a statement that one strongly believe is true
- affirmation: support or approval
Economy
- GDP
- GNP
