IELTS Vocabulary for Business

IELTS vocabulary terms aid in the improvement of all aspects of communication, including listening, speaking, reading, and writing. IELTS Vocabulary accounts for 25% of your IELTS writing and speaking scores and it also plays an essential part in listening and reading. For IELTS, you must have a very strong vocabulary. This topic – IELTS Vocabulary Business – discusses several words associated with Business.

IELTS Vocabulary for Business With Proper Meaning and Sentences

A bird’s eye view
Strategy
Push strategy
Pull Strategy
Facilitate
Coordinate
Prioritize
Schedule
Process
Collaborate
Supervise
Documentation
Budget
Negotiating
A Business Plan Outline
SWOT Analysis
Business funding
Balance sheet
A company’s Assets
Start-up
Business forecasting
Cash flow
Marketing
USP
Promotions
HR
HRM
Recruitment
Recruitment Agencies
Brand
Brand Identity
PR
A cold call
Going forward
Thinking outside the box
An action plan
Stakeholders
Primary Stakeholders
Buy-in
Leverage
Feedback
Best practices
Benchmarking
Core competency
Scalable
Skillset
Vertical
Getting the ball rolling
Corporate Synergy
Disruption
Brainstorming
Incentivize
Deliverable
Implement

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Vocabulary for the topic – Business

Here are some basic 50 business terms that will come in handy while you are attending an interview or having a business interaction or attempting the IELTS exam.

1. A bird’s eye view –

Meaning: is an overall look at an issue in hand like a bird from height can view all parts of terrain from above clearly.

Sentence: We are on the 44th floor so we got an amazing bird’s-eye view of New York City.

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2. Strategy –

Meaning: refers to the formulation of major goals taken by an organization on behalf of its stakeholders.

Sentence: The new advertisement strategy really helped to boost the sales.

3. Push strategy

Meaning: refers to attempts of a firm to take its products to consumers. An example is selling insurance directly to customers

Sentence: They were completely dependent on a push strategy when they first entered the stock market.

4. Pull Strategy

Meaning: involves getting the word out about your product by educating customers about your offerings and enticing the customers with sales and discounts that make them seek your products.

Sentence: Working around a pull strategy needs excellent market knowledge.

5. Facilitate –

Meaning: to make things easier and help to run everything smoothly.

Sentence: Online education can facilitate learning in many different ways.

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6. Coordinate –

Meaning: means to arrange for two or more groups to work together and the person who coordinates tasks or activities is known as a coordinator.

Sentence: We should try to coordinate the event with them as it will be easier for us.

7. Prioritize –

Meaning: means to deal with things in their order of importance or urgency which are given a higher priority so they get done before the less important things.

Sentence: It is difficult to prioritize between school, job and household work.

8. Schedule –

Meaning: refers to planning for an event could be meetings or conference calls to take place at a certain time and place.

Sentence: I have a very busy schedule and it gets difficult to take time out for partying.

9. Process –

Meaning: means to put something through a series of steps or actions to achieve a certain result.

Sentence: The whole process of manufacturing is very interesting.

10. Collaborate –

Meaning: means to work together with another person or group to achieve a common goal.

Sentence: The influencer decided to collaborate with the beauty brand.

11. Supervise –

Meaning: means to direct and be in charge of someone or something.

Sentence: The best way to avoid any mishaps is to supervise your kid every time.

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12. Documentation –

Meaning: refers to the creation of records or files.

Sentence: Applicant must have proper documentation before applying for the tenure application.

13. Budget

Meaning: means to make a plan for the amount of money to spend on something and as a noun, it means the amount of money that’s made available for spending.

Sentence: We must buy all the raw material on budget.

14. Negotiating

Meaning: As a verb means to formally discuss and come to an agreement with another party. As a noun negotiation refers to the formal discussion to arrive at a decision that all agree with.

Sentence: The terrorists were negotating with the government to release the hostages.

15. A Business Plan Outline:

Meaning: This refers to a set of goals that are set for the next three to five years, with relevant information to achieve these goals.

Sentence: Before implementing the idea the company must have a business plan outline to avoid any mistakes.

16. Another business analysis vocabulary commonly is known as SWOT Analysis –

Meaning: identifying a company’s set of strengths, weaknesses, opportunities, and threats.

Sentence: This plan includes brainstorming, decision trees, SWOT analysis and critical path analysis among others.

17. Business funding –

Meaning: refers to sourcing resources to develop a business. It includes three important sources – which are Banks, the Government, or Public Investors.

Sentence: Peter has the best business funding advice you must talk to him once.

18. Balance sheet

Meaning: It is a quick snapshot of the company’s health and contains all the details of the company accounts till the end of the financial year.

Sentence: It is crucial to maintain the company’s balance sheet.

19. A company’s Assets

Meaning: are the values belonging to it, and liabilities are what it owes to others and ownership equity is what’s left after liabilities.

Sentence: He transferred all his company’s assets into his son’s name.

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20. Start-up

Meaning: a term used for new businesses entrepreneurship which is forward-thinking with a relaxed work atmosphere in unconventional offices.

Sentence: The 19-year old is determined to establish his startup.

21. Business forecasting

Meaning: a term that predicts a business’s future movement based on factors like the current situation, external factors, new products, plans for marketing, and funding.

Sentence: Mr. Anil is known as the expert of business forecasting because all his predictions were accurate.

22. Cash flow

Meaning: refers to the net balance of cash moving in and out of a business at a specific point in time

Sentence: The company is looking at new ways to generate cash flow.

23. Marketing

Meaning: the act or process of selling or purchasing in a market

Sentence: Green Beans a company going in loss is ready to opt for any marketing strategy that can help them stand back on their feet.

24. USP

Meaning: the “Unique Selling Proposition” of a company denotes its superior difference from similar offerings.

Sentence: A brand or company with USP can give immense profits to the firm.

25. Promotions

Meaning: These are marketing steps to keep the company at the forefront showing customers why they should choose them rather than another company.

Sentence: To be ahead in the race the company must abide by all marketing steps such as promoting the products and launching new services.

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26. HR

Meaning: “HR” is another important term that stands for “Human Resources”, dealing with matters relating to its employees.

Sentence: HR oversees employee training and development, and payroll.

27. HRM

Meaning: handles disciplinary matters

Sentence: HRM deals impartially with problems arising between employees, and between employees and their managers.

28. Recruitment

Meaning: is the process of hiring new employees.

Sentence: TCS has started the recruitment. I suggest that you should apply there.

29. Recruitment Agencies

Meaning: companies that exist whose sole purpose is to match employers with potential employees.

Sentence: Samantha got her job through a recruitment agency.

30. “Brand”

Meaning: a company’s name and the recognizable attributes

Sentence: To become a brand in this competitive world is a difficult thing.

31. Brand Identity

Meaning: is the company’s tone of voice and design of official communications.

Sentence: The brand’s identity helps the consumer get to know the brand better.

32. Public Relations, or PR,

Meaning: refers to communicating to ensure favorable media coverage of a company, product, or service.

Sentence: The young influencer opted the PR strategy to increase her following.

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33. A cold call

Meaning: is a phone call, usually from a sales representative of a company, to a potential customer or client who is not expecting the call with the aim of trying to sell them something.

Sentence: A cold call strategy works fine when you have a unique selling product or service.

34. Going forward

Meaning: “from now on” moving on positively for example

Sentence: we will adopt a different approach going forward.

35. Thinking outside the box

Meaning: means thinking creatively, leaving all preconceptions.

Sentence: The manager advised all the colleagues to think outside the box and come up with a creative plan for the fall display.

36. An action plan

Meaning: refers to a series of steps or (“taking action”). When this noun turns into a verb. “Can you do that?” means a request meaning “Can you do that?”

Sentence: Can you finish the task asap?

37. Stakeholders

Meaning: anyone who’s involved in a particular project having an interest in the company

Sentence: Stakeholders have the power to affect or be affected by the business.

38. Primary Stakeholders

Meaning: are the company’s investors, employees, customers, and suppliers.

Sentence: Mathew made her wife the primary stakeholder of his firm.

39. Buy-in

Meaning: a term that refers to the idea of gaining acceptance for something,

Sentence: they are “buying in” to the idea.

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40. Leverage

Meaning: the use of a lever to apply force in a business context it is used as a verb, meaning to utilize something to the business’s advantage,

Sentence: “leverage our contacts to spread the word”.

41. Feedback

Meaning: refers to give opinion on something

Sentence: “We’re waiting for the manager to give his feedback on the proposal”.

42. Best practices

Meaning: refer to the best way of doing things in order to achieve optimum results

Sentence: By best practicing the skills against competitors and industry peers one can achieve desired results.

43. Benchmarking

Meaning: refers to understanding how and where to improve its performance.

Sentence: The CEO is planning to launch a benchmarking scheme to guide freshers.

44. Core competency

Meaning: refers to the strengths of a person working in a company.

Sentence: She has taken us back to our core competency.

45. Scalable

Meaning: means that it’s an idea that will work easily on a larger scale than the one it currently works on.

Sentence: a “scalable” business model makes it easy to expand any business.

46. Skillset

Meaning: refers to a person’s range of skills.

Sentence: Her skill set involves her speed of typing and communicating fluently.

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47. Vertical

Meaning: refers to an area of expertise.

Sentence: “we cater for the logistics vertical”.

48. Getting the ball rolling

Meaning: is simply a way of saying “start”.

Sentence: “let’s get the ball rolling” to mean “let’s begin the meeting”.

49. Corporate Synergy

Meaning: refers to coordinating and collaborating more effectively in an organization.

Sentence: The contract exploits the natural synergy between the two companies.

50. Disruption

Meaning: refers to something that interrupts the status quo normally a new technology or idea.

Sentence: The stormy weather caused disruption to the rail network during rush hour.

51. Brainstorming

Meaning: also known as ideating when a group of people get together and discuss to come up with new ideas.

Sentence: Interior designers are brainstorming quick fixes to the bedroom wall problems.

52. Incentivize

Meaning: is a word that describes the effort or the act of motivating a person to get something done.

Sentence: The Indian government seeks to incentivize home ownership through a favorable tax system

53. Deliverable

Meaning: is a favorite term of project managers and refers to a quantifiable service provided as a result of completing a project.

Sentence: The deliverables of the action plan have been analysed.

54. Implement

Meaning: to effectively go ahead and enforce an action or plan.

Sentence: The company plans to implement the recommendations through its code of practice in the upcoming year.