Vocabulary blog - General Business

Hi everyone!

I hope you enjoy practicing grammar and are ready for the test. However, understanding grammar might not be enough for getting a satisfactory score in TOEIC, especially in the Reading Section. You also need to know a fair amount of vocabulary to help you identify which words or phrases fit the prepositional meaning of the sentences (Part 5) and texts (Part 6). In any case, the more vocabulary you know, the better and faster you will understand the passages (Part 7) and identify the correct answers.
Some words have several meanings, but I will focus on business-related words as TOEIC is a professional English test. Therefore, I would like to present some useful words based on the business related topics. Let’s start with

General business

• accept (v)

- take something that is offered  (e.g. We can’t accept their proposal due to unfair conditions.)

• acquisition (n.)

- the acting of getting something (e.g. He’s conducting research on second  language acquisition.)

- something that is obtained (e.g. The latest acquisitions of the museum are a series of 17th century paintings.) 

- acquired properties, especially land or company (e.g. A South American millionaire has made several acquisitions in Asia.)

• approach (v./n.)

- talk to or ask someone for something or offer someone something (e.g. The man has been approached by many entrepreneurs who desire to buy his product for further development.) 

- a way of dealing with something (e.g. we need a whole different approach to the job.)

• bid (v./n.)

- to offer the pay a particular price for something (e.g. We bid $500 for the antique chair.) 

- an offer to pay a particular amount of money for something  (e.g. The company submitted a bid for the contract to build a new plant.)

• broker (v./n.)

- arrange or negotiate a deal or settlement. (e.g. The company brokered a deal with the competitor.)

- a person who buys and sells things for other people (e.g. She has been working as a stock broker since she graduated.)

• buyout (n./v.)

- the purchase of a company's shares to gain its management control and interest (e.g. Wintech Co. is taking a revised buyout bid from one of its competitors.)

- The action of purchasing all company shares (e.g. The board of directors decided to buy out all shares of the targeted company.)

• contract (n./v.)

- an official written agreement (e.g. We have just signed a contract with a construction company.)

- to enter into a formal agreement (e.g. We contracted with a local consultant.)

• deal (n./v.)

- an agreement on particular conditions for buying or doing something (e.g. It seems that they couldn’t close a deal as they failed to agree on the price.)

- to solve an issue (e.g. We dealt with financial crisis as good as we could.)

• merger (n.)

- the act of joining two or more organisations or businesses into one (e.g. The merger between the two companies is expected to take place in three months.)

• reject (v.)

- to refuse to accept or consider something (e.g. The application was rejected due to incomplete documents.)

Hope you enjoyed learning these business-related words! Try to make it a habit to learn new words, especially business-related ones. See you next time for more useful words.