BUSINESS VOCABULARY
100
What term is used to describe the money a company earns from its normal business operations?
What is revenue?
100
In a business email, what does "CC" stand for?
What is Carbon Copy?
100
What is the term for a company that operates in multiple countries?
What is a multinational corporation (MNC)?
100
What is the first step in the negotiation process?
What is preparation?
100
Define the term "cash flow."
What is the movement of money into and out of a business?
200
Name two types of business ownership structures.
What are sole proprietorship and partnership?
200
What is the proper way to address someone in a business setting if you don't know their name?
What is using their professional title, such as Mr., Ms., or Dr.?
200
What does NAFTA stand for?
What is the North American Free Trade Agreement?
200
What is a win-win negotiation?
What is an approach where both parties benefit from the outcome?
200
What does the acronym IPO stand for in finance?
What is Initial Public Offering?
300
Define the term "market share."
What is the percentage of an industry's total sales that a specific company captures?
300
When is it appropriate to bring up personal topics in a business conversation?
What is rarely or only when relevant to the conversation?
300
In international business, what does the acronym FOB stand for?
What is Free On Board?
300
What is the significance of BATNA in negotiation?
What is the Best Alternative to a Negotiated Agreement?
300
What is the purpose of a balance sheet?
What is a snapshot of a company's financial position at a specific point in time?
400
What does ROI stand for in business?
What is Return on Investment?
400
What is the typical duration of a standard business lunch meeting?
What is around 1 hour?
400
Name two common barriers to international trade.
What are tariffs and quotas?
400
How can active listening benefit the negotiation process?
What is understanding the other party's perspective and building rapport?
400
Explain the concept of depreciation.
What is the allocation of the cost of an asset over its useful life?
500
Define the term "SWOT analysis" in a business context.
What is an analysis of a company's Strengths, Weaknesses, Opportunities, and Threats?
500
How should you handle a disagreement with a coworker in a professional manner?
What is discussing the issue privately and focusing on finding a solution?
500
What is the purpose of a letter of credit in international transactions?
What is a financial guarantee to ensure payment between the buyer and seller?
500
What is the difference between distributive and integrative negotiation?
What is distributive focuses on dividing a fixed amount, while integrative seeks mutual gain?
500
What is the difference between a budget and a forecast in financial planning?
What is a budget is a plan for future expenses, while a forecast is a prediction of future financial outcomes?