VOCABULARY

Milica Djordjevic 3254/08

Concession- an agreement to do something you did not intend to do as a result of a discussion or negotiation Negotiate- to attempt to arrive at an agreement through discussion and compromise. Persuasive- has the ability to make people do or believe something. Compromise- an agreement acceptable to both sides, where you accept less than you originally hoped for. Come over as- to give an impression to others of what you are like. Overcome- to succeed in finding a solution to a problem or difficulty. Undertake- to agree and commit oneself to do something. Outcome- the end result of something. Beat(somebody) down- to persuade someone to reduce the price of goods after a lot of forceful argument. Initiative- personal quality of accepting responsibility and make decisions without help or approval. Rapport- a close relationship. / Build a rapport- develop a close relationship. Lose face- to be in a situation where you appear foolish and experience a loss of honor or status. To hit a stumbling block- to encounter a problem which can prevent you from making progress. Give an inch and theyll take a mile- expression used when a person tries to get even more than what is offered. To play people off against each other- to put two rivals in a competition so that you gain benefits. To be at loggerheads- to argue and to fail to agree about something. To split the difference- to agree to meet halfway between the asking price and the price that is offered. To have someone over a barrel - to put someone in a helpless situation. Ill scratch your back if you scratch mine- used when you agree to do someone a favor, provided they will do one for you in return. Bone of contention- an important topic of disagreement. Bid- to offer to pay a particular price for something often in competition with other buyers. Acquire- to purchase Diversify- to move into selling a wider range of goods and services.

Merge- to join together in order to reduce and share costs and become more efficient or competitive. Takeover- gaining control over a company by buying it or controlling enough of its shares. Horizontal merger- two companies making the same product combine. Vertical merger- a company either acquires or merges with another company in an immediatelyrelated stage of production and distribution. This may be a supplier or immediate customer. Diversification- a company that acquires another company in an entirely different sphere. Incentive- an extra benefit that aims to encourage someone to buy something or that encourages someone to work harder. Economies of scale- the principle that unit cost fall the greater the number of units which are produced. Haggle- to argue over the price of something. Iron out- to solve or eliminate the problems that are affecting something. Brainstorm- to work together as a group, suggesting ideas and solutions, to solve a particular problem. Niche market- a business opportunity provided by a narrow and specific part of the market. Stockbroker- someone who buys and sells on the stock exchange on behalf of other people. Blue-collar worker- worker who does manual work, usually in a factory, which requires physical effort. Breach- a legal term for the failure to keep and agreement. Breach of contract- the failure to keep the conditions of a contract. Close a deal- to move from negotiations and discussion to a final agreement. Management consultant- someone who can give expert advice in management. Deadlocked- describes negotiations which cant progress because neither side is prepared to compromise or make a concession. E-commerce- business conducted via the internet. Findings- the result of discoveries of research. Freight-forwarder- a business used by exporters to organize the transportation of goods to their destination. Get out of- to avoid or escape a duty, e.g. get out of a contract Get through to- to successfully make contract with someone by telephone.

Market leader- the company that sells the most of a particular product in a market. Pie-chart- diagram which is a circle that sells the most of a particular product in a market. Pioneer- to develop a new way of doing something. Receipt- a paper which proves payment for goods or a service. Redundant- not in employment. Subsidy- money paid by the government or an organization to help a business keep its prices low. Transaction- a piece of business. Troubleshooter- an expert who is sent to an organization to sort out its problems. White-collar worker- someone who works in an office or professional environment. Sound bite- short, memorable comment. To brag- to boast. Bill of lading- a document that shows details of goods being transported. It is a receipt from the carrier to the sender. It entitles the receiver to collect the goods on arrival. Letter of credit- a letter from one bank to another bank by which a third party, usually a customer is able to obtain money. Documentary letter of credit- a letter of credit which the exporter adds a number of other documents, such as a bill of lading and a insurance certificate to obtain payment. Carrier- the commercial company given the responsibility of transporting goods.