World-renowned philosopher Ludwig Wittgenstein once said “The limits of my language mean the limits of my world”, which essentially grapples with the need and requirement of a language in the world. From early humans to modern beings, everyone in this world, for centuries, has used language as a tool to send messages through birds, letters and now emails. Language has been a deep-rooted eco-system that has changed the world in many ways than one can imagine. Carefully constructed words and sentences have made an everlasting impact to shape the world as we see it today. To have the knowledge of the vocabulary of a language means to have essential weapons to survive in that land. In this article, we are going to know how having good vocabulary in your pocket helps you to evolve more in terms of your communication and association with people around you. Also, we will learn new business vocabulary that you can use to your advantage whenever the necessity arrives.
i) What is Business Vocabulary
In simple terms, business vocabulary is the vocabulary that is most often used in the business field. The business field includes meetings, interviews, and presentations. These are the situations where you as a speaker indulge into a language that is more professional and more polished. Most of the business professionals start off with limited knowledge of words that are used in their own field but as they go on, they learn new things and incorporate those new things into their daily business life. But if you have sufficient knowledge on how the business works and how the communication happens, you can reach the top level with your communication skills. When you have an abundance of knowledge of your own field along with great efficiency on language, then wherever you go, you can win every one at that junction. Even if you are not a business enthusiast or not at all interested in venturing into business, you can still have the knowledge and understanding of a certain type of vocabulary which can make your speech much more valuable.
ii) Your Dose of Business Vocabulary
- Agenda (Noun)
Meaning: A list of things or topics that you want to address, a step by step process for work
Sentence: Hey Steve, add this topic to our agenda for the next week’s meeting.
2. Added Value (Noun)
Meaning: To increase worth of something
Sentence: Hiring an IIT graduate is an added value to our company.
3. Sustainability (Noun)
Meaning: Ability to hold on to a particular position in a situation
Sentence: We have to increase our sustainability for the next quarter.
4.Diversify (Verb)
Meaning: To venture into different cultures or ideas
Sentence: Our company is very diversified in terms of its hiring process.
5. Digital Strategy (Noun)
Meaning: A carefully designed plan to increase technological engagement
Sentence: We need to have a more solid digital strategy to reach our customers.
6. Public Relations (Noun)
Meaning: The act of making a good public image
Sentence: This company has a great name in public relations.
7. Credibility (Noun)
Meaning: The ability of being believable
Sentence: Varun’s credibility can fetch him any position that he applies for.
8.Marketing (Noun)
Meaning: The act of a company to promote its services
Sentence: Our Marketing strategies are what made us more visible in the public eye.
9. Negotiate (Verb)
Meaning: Managing or dealing with certain situations
Sentence: The main reason why she received a raise is because of her negotiating skills.
10. Validation (Verb)
Meaning: Recognising the efforts of someone or something
Sentence: Validation of employees is a top priority for our company.
11.Estimate(Verb)
Meaning: Calculate the effect or a work or phenomenon
Sentence: Let’s estimate the result of our new policy.
12. Commodity (Noun)
Meaning: A product or good
Sentence: Our agricultural commodities have achieved a new record on sales.
13. Venture (Verb)
Meaning: A new business idea, act of entering into new places
Sentence: The new venture of our company is headed by Mr. Chandrashekar.
14. Correspondence (Verb)
Meaning: Communication through a written format, letters or emails
Sentence: The department has received the correspondence on the latest issues that have arisen.
15.Core competency (Noun)
Meaning: Abilities/resources that serve advantage to a business
Sentence: Shreyas’ core competency has always made me believe in her ideas.
16. Logistics (Noun)
Meaning: A process of explaining or detailing a certain assignment
Sentence: I need a complete logistical analysis on our transport module.
17. Ecosystem (Noun)
Meaning: An environment of organization of certain system
Sentence: This business ecosystem has given us enough profits to go to the next level.
18.Synergy (Noun)
Meaning: The act of participation of different organizations
Sentence: It is the synergy of those two companies that bring them more money.
19. Deep Dive (Noun)
Meaning: A process of going to greater lengths to understand a phenomenon
Sentence: I took a deep dive into the knowledge of how to communicate effectively.
20. Trade-off (Noun)
Meaning: An opportunity cost, a compromise in which you give up something to gain
Sentence:
- For some home buyers, lack of space is an acceptable trade-off for a luxury design.
- In many countries, increased risk of Covid is a trade off in reopening schools.
- Suparna is willing to trade off her promotion for more effective work-life balance.
About the Author
Abhinav has finished his graduation in Civil Engineering only to realise that writing is also as analytical as Structural Analysis. From finding hidden references in movies to writing them in his stories, which may one day triumph as Gandalf in Lord of the Rings, he is all about the culture of Pop Culture. He considers music as therapy and storytelling as catharsis. You can write to Abhinav at his email address: abhinavsriramoju@gmail.com