Learn the important English vocabulary words for daily management

Vocabulary is promordial in order to improve your TOEFL score. Remember, Preparation is the key to succeed !

Vocabulary

Definition

Example

Bonus scheme

Refers to a scheme in a company or an organization according to which employees receive a bonus if they meet specified targets.

A good, fair and well-designed bonus scheme can be a perfect way to increase your staff’s productivity and so your bottom line / profit.

Packing slip

Refers to packing note or the document listing items in a parcel

It is highly essential for an e-commerce company to have a packing slip well detailed at the time of an order.

Receiving report

A receiving report is an internal document used to record what materials and inventory were received by the company.

The company’s most receiving reports are made on carbon copy paper with multiple sheets.

Storage cost

The cost to store commodities from one delivery month to another, one of the carrying charges associated with futures.

Last month, the company incurred huge storage costs.

Valued added tax (vat)

It is a type of consumption tax that is placed on a product whenever value is added at a stage of production and at final sale.

Value added tax has just gone back up to 17.5%.

Value added

Value-added refers to the enhancement a company gives its product or service before offering the product to customers.

Value-added applies to instances where a firm takes a product that may be considered a homogeneous product.

Value chain

The series of stages involved in producing a product or service that is sold to consumers, with each stage adding to the value of the product or service

The company would like to have recycled materials reenter the value chain as raw materials.

Work force

Refers to the people available to work or actually employed in a particular area, industry, or company

Our company needs work force to succeed in the market.

Workload

Refers to the amount of work to be done by a particular person or machine in a given period of time.

Teachers are always complaining about their heavy workloads.

Working hours

The minimum amount of time a person spends at work during a day

In France, the min. Working hours a week is 35.

A benchmark

A level of quality that can be used as a standard when comparing different things

Her outstanding performances set a new benchmark for other employees in the organization.

A blueprint

An early plan or design that explains how something might be achieved

Their blueprint for economic reform was quite intersting.

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