Business, Commercial and Managerial Vocabulary terms used in trade

  • Export: Sending goods or services to another country for sale or trade.
  • Import: Bringing goods or services from another country for sale or trade.
  • Trade Balance: The difference between a country’s exports and imports.
  • Tariff: A tax imposed on imported goods to protect domestic industries or raise revenue for the government.
  • Quota: A limit on the quantity of specific goods that can be imported or exported during a certain period.
  • Free Trade: A policy that allows goods to be traded without government-imposed tariffs, quotas, or restrictions.
  • Customs: The government department responsible for controlling the entry and exit of goods and ensuring compliance with trade regulations.
  • Exchange Rate: The value of one currency relative to another, which affects the cost of international transactions.
  • Invoice: A document issued by a seller to a buyer, itemizing the goods or services provided and the amount due for payment.
  • Purchase Order (PO): A commercial document issued by a buyer to a seller, specifying the goods or services to be purchased.
  • Supply Chain: The network of organizations and processes involved in the production and distribution of goods and services.
  • Logistics: The management and coordination of the movement of goods, services, and information within a supply chain.
  • Market Research: The process of gathering, analyzing, and interpreting information about a market to identify opportunities and make informed business decisions.
  • Marketing Strategy: A plan outlining how a company will promote and sell its products or services to target customers.
  • Branding: The process of creating a unique and recognizable identity for a product or company.
  • Distribution: The process of getting goods from manufacturers or suppliers to consumers through various channels.
  • Gross Profit: The difference between revenue and the cost of goods sold.
  • Net Profit: The amount left after deducting all expenses from the total revenue.
  • Return on Investment (ROI): A metric used to evaluate the profitability of an investment relative to its cost.
  • Market Segmentation: The division of a market into distinct groups based on characteristics such as demographics, behavior, or needs.
  • B2B (BusinesstoBusiness): Transactions or relationships between two businesses.
  • B2C (BusinesstoConsumer): Transactions or relationships between a business and individual consumers.
  • Key Performance Indicators (KPIs): Specific metrics used to evaluate the performance and success of a business.
  • Stakeholder: An individual or group with an interest in or affected by the actions and decisions of a business.
  • Outsourcing: Contracting tasks or services to external companies or individuals rather than handling them in-house.
  • Joint Venture: A business arrangement where two or more companies pool resources to achieve a specific goal or project.
  • Franchise: A business model where one party (the franchisor) grants another party (the franchisee) the right to use its brand and business system in exchange for fees or royalties.
  • Market Share: The portion of total market sales that a company holds in relation to its competitors.
  • Negotiation: The process of discussing and reaching an agreement between parties to resolve a matter or close a deal.
  • Risk Management: The process of identifying, assessing, and mitigating potential risks that may affect business operations or objectives.

These terms provide a foundational understanding of business and trade-related vocabulary. In the world of commerce, you’ll encounter many more specialized terms, but this list should serve as a good starting point.

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