Business Vocabulary
Collective level- done by people acting as a group.
Sentence-This business is on a collective level, not on an individual level.
Build up- to develop.
Sentence- It is important for companies to build up a good relationship with their customers to boost their sale.
Indispensable- absolutely necessary or essential; very important.
Sentence- Customer satisfaction is indispensable for the success of business.
Amusement center- a place that has a lot of things to play for fun.
Sentence- The business of amusement center is flourishing nowadays.
Discount coupon- a voucher that allows someone to pay less money than usual for an item.
Sentence- All users are given discount coupons when they finish filling out a survey.
Maximize customer satisfaction- maximize customer happiness.
Sentence- You can maximize customer satisfaction by giving them proper guidance and service
Ideal solution- good solution.
Sentence- Ideal solution to boost the business is to offer lucrative discount.
Make it to the top-to be very successful.
Sentence- There is only one way to make it to the top: work hard.
Benefits-advantages or profits gained from something.
Sentence- Consumers are taking maximum benefit of the new scheme.
To be user-friendly –to be easy to use, learn or understand
without advanced skills.
Sentence- The mobiles nowadays are user friendly.
Some of the expected questions relating to the business vocabulary
Q1. What skills are required to start a small business?
Ans. Setting up a small business can be risky, and so you need a broad range of abilities. One of the Indispensable factor is to be well-organised. You have to be able to keep track of your company’s revenue and expenses and find ways to save and make money at the same time. Having a calm temperament/Being able to keep calm is also important. If you get too stressed, you may not be able to find Ideal solution for the problems and your business can go in lose.
Q2. What are the risks of running your own business?
Ans. There is a big risk in running a business as if it fails one can even become bankrupt. I think much more than half of all new businesses go out of business in the initial stage. If you invest too much in your business you might be personally liable, which could mean you would lose your house. Another one is the fear of failure. Many people don’t even take the chance to start a business because they’re worried about failing and being embarrassed as only the person who takes risk can make it to the top.
Q3. Are you ready take the risk to be an entrepreneur?
Ans. Yes, as I have already mentioned that only the person who takes risk become successful so I will take calculative risk by starting the business in collective level. By this I will get a chance to grasp knowledge of building up new business and if it fail I will bear less loss.
Q4. What kinds of businesses are most popular?
Ans. All kinds of small businesses are popular, such as related to clothes, toys, the food industry, mobile and now the software companies are also flourishing and the one who make user-friendly applications takes more benefits from big companies.
Q5. What type of business will you like to start? Why?
Ans. Nowadays the Amusement center is in boom so I will try my luck in it. I think this is a easy business as in it newly launched games can maximize customer satisfaction and can give big profit. Moreover, the craze of playing games never ends and customers can easily be attracted with discount coupons.
