Joined: 20 Aug 2009
Location: Denver, Colorado
|Posted: Sat Jul 24, 2010 5:45 pm Post subject: Get Ready To Negotiate (Part One): Important Business Terms
|If you need to negotiate a matter in the business world, youíll want to equip yourself with good vocabulary to make yourself understood and help you understand many important negotiating terms.
Read, understand and learn the following words which youíre likely to hear during business negotiations:
MEANING: A person that acts for or represents a company
EXAMPLE: The company will send an agent to discuss our wishes with you.
MEANING: Another option
EXAMPLE: Youíll have to find an alternative for the initial plans you had.
MEANING: The addressing / resolving of a conflict using a third impartial party
EXAMPLE: We will have to resolve this matter using arbitration if we do not reach an agreement.
4. Bottom line
MEANING: The lowest or final position someone is willing to reach
EXAMPLE: Iíll accept a 7% raise as a minimum. Thatís my bottom line.
5. Bedrock price
MEANING: The lowest possible price
EXAMPLE: We want to sell you our products at bedrock price.
6. To bargain
MEANING: To try and change someoneís mind about their position
EXAMPLE: Iíd like to bargain with you on that point.
EXAMPLE: We need to reach a decision collectively.
8. A commitment
MEANING: A pledge or promise of oneself to something or to doing something
EXAMPLE: I have a commitment to meeting your needs.
MEANING: To reach an agreement with someone by both parties complying in some way to the otherís wishes
EXAMPLE: Letís see if we can reach a compromise.
10. A condition
MEANING: Something that has to be fulfilled or given first in order for something else to happen
EXAMPLE: We will employ you once these conditions are met.
MEANING: An agreement by all
EXAMPLE: Itís important that there is a consensus on this issue.
MEANING: A written and legal agreement between two or more parties
EXAMPLE: After our discussion, we will draw up a contract.
13. To cooperate
MEANING: To work together
EXAMPLE: Letís cooperate on this business proposal.
14. A counter offer
MEANING: To present an alternative offer in response to an initial offer
EXAMPLE: I have a counter offer you might want to listen to.
MEANING: Something that has the opposite effect to the one intended or needed
EXAMPLE: If we lower the price, that will be counter-productive to us.
16. A deal
MEANING: A business agreement
EXAMPLE: Letís reach a deal on this issue.
MEANING: A reduction in price
EXAMPLE: Weíll offer you this product at a good discount.
If you are interested in mastering your business English, opt to take an intensive ESL Program in the USA to teach you everything you need to know to be successful with your business matters. Executive English courses last from three weeks and equip you with the English you need to know for every business situation.
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Rachel Clarkson is an English teacher at LCI English ESL Programs and blogger at the ESL Blog.
LCI offers the best ESL classes through experienced teachers and high quality programs in Denver, Colorado. Check out great ESL resources and articles at www.englishlci.com/blog