📚 English Vocabulary for Business and Administration
Master essential terms to excel in professional environments
“Language is the road map of a culture. It tells you where its people come from and where they are going.” – Rita Mae Brown
Management & Leadership
- Leadership: The ability to guide and inspire a team toward goals.
- Delegation: Assigning tasks to others based on their skills.
- Performance Review: An evaluation of an employee’s work and achievements.
- Motivation: The drive that encourages employees to perform well.
- Team Building: Activities designed to improve collaboration among staff.
Finance & Accounting
- Budget: A financial plan outlining expected income and expenses.
- Revenue: Total income generated by a business.
- Profit Margin: Percentage of revenue that remains as profit after costs.
- Audit: An official inspection of financial records.
- Cash Flow: The movement of money in and out of a business.
Office & Administration
- Agenda: A list of topics to be discussed in a meeting.
- Minutes: Official written record of a meeting’s discussions and decisions.
- Filing System: Organized method for storing documents.
- Deadline: The final date by which something must be completed.
- Correspondence: Formal communication, especially letters or emails.
Human Resources (HR)
- Recruitment: The process of hiring new employees.
- Onboarding: Introducing a new employee to company policies and culture.
- Benefits Package: Additional compensation such as health insurance or vacation days.
- Workplace Diversity: Inclusion of individuals from different backgrounds.
- Employee Retention: Strategies to keep skilled workers within the company.
Business Communication
- Negotiation: Discussion aimed at reaching an agreement.
- Presentation Skills: Ability to deliver information clearly and persuasively.
- Networking: Building professional relationships for mutual benefit.
- Feedback: Constructive comments on performance or ideas.
- Professionalism: Conduct and behavior appropriate to a workplace.
Operations & Strategy
- Supply Chain: Network involved in producing and delivering goods.
- Efficiency: Achieving maximum productivity with minimum wasted effort.
- KPI (Key Performance Indicator): Measurable value showing how effectively goals are achieved.
- Stakeholder: Any individual or group with an interest in the organization.
- Benchmarking: Comparing processes against industry standards.
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