Business Vocabulary
What do we call a company that sells products similar to yours?
A competitor.
Which is correct: “make a decision” or “do a decision”?
Make a decision.
Which department manages budgets, invoices and payments?
Finance.
What is market research?
Collecting information about customers, competitors and the market.
Name ONE benefit, other than salary, that can attract employees.
Flexible hours, paid leave, training, health insurance or career opportunities.
What is a company's headquarters?
Its main office.
Complete: “The company has operated in Lyon ___ 2018.”
Since.
A customer receives a broken product and asks for a refund. Which department should help?
Customer Service.
Name ONE way a company can find out what customers think about its products.
Surveys, interviews, online reviews or focus groups.
True or False: Organisational culture is only about office design and dress code.
False. It also includes values, behaviours, communication and ways of working.
What is the difference between revenue and profit?
Revenue is the money a company earns from sales before costs. Profit is what remains after costs are paid.
Correct the mistake: “We discussed about the new plan.”
We discussed the new plan.
Which department organises deliveries, transport and warehouses?
Logistics.
Why might a company give customers free samples of a new product?
To attract customers, let them try the product and encourage future purchases.
Employees are afraid to tell their manager about mistakes. What problem could this cause?
Problems may remain hidden, mistakes may happen again and communication may become worse.
What does it mean to outsource a task?
To pay an external person or company to do the task.
If a manager puts off a meeting, what happens to it?
The meeting is postponed or moved to a later time.
Which department develops and tests new products?
Research and Development (R&D).
A shop sells out of a popular product every week. What could it do to avoid running out?
Order more stock, improve demand forecasts or arrange more frequent deliveries.
Give ONE advantage and ONE challenge of having a culturally diverse team.
Different perspectives can encourage creativity, but communication difficulties may arise.
A company earns €100,000 but spends €120,000. Has it made a profit?
No. It has made a loss of €20,000 because its costs are higher than its revenue.
Give one polite expression for disagreeing with a colleague in a meeting.
I see your point, but I have a different opinion.
A company launches a new product abroad. Name TWO departments that must cooperate and explain why.
Marketing studies local customers and promotes the product; Logistics organises delivery. Other justified combinations are acceptable.
A product is good, but sales are falling. Name TWO things the company should investigate.
Pricing, advertising, customer feedback, competitors, product availability or the target market.
A company wants to reduce employee stress without cutting salaries or jobs. Suggest TWO realistic actions.
Improve workload planning, offer flexible schedules, provide more breaks, train managers or give employees access to wellbeing support.