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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- TOEFL vocabulary list: all the essential words you need to know