Business Glossary

20 Business terms

This glossary will help you understand and visualize with some pictures some terms that are frequently used in business/management.

Agent
Noun
A person who does business for another person.
Example: I hired an agent to help me buy this company.
fr: Agent
The woman in the middle is an agent.
Bankruptcy
Noun
A legal proceeding involving a person or a business that is unable to repay outstanding debts.
Example: This company didn't have enough money to pay all of its debts, therefore, they filed for bankruptcy.
fr: Faillite
The man doesn't, have any money left, therefore, he can't pay his debts and will probably file for bankruptcy.
Break even
Noun
Reach a point in a business venture when the profits are equal to the costs.
Example: The company made $500 profit, and it cost them $500 to make these products. Thus, they reached a break even point.
fr: Seuil de rentabilité
The point in the middle of the graph is the break even point.
Budget
Noun
An estimate, often itemized, of expected income and expense for a given period in the future.
Example: Since I'm travelling around the world next summer, I made a budget to cover all of my expenses.
fr: Budget
The person is making a budget for his expenses.
Company
Noun
A business organization that makes, buys, or sells goods or provides services in exchange for money.
Example: Apple is a company.
fr: Compagnie
Here's the image of Apple, a company, and his CEO, Tim Cook.
Consumer
Noun
A person who buys goods and services.
Example: I bought the new iPhone 13. Thus, I am a consumer.
fr: Consommateur
The woman is buying food. Thus, she is a consumer.
Contract
Noun
A formal agreement between two or more parties. A document that states the terms of such an agreement. The branch of law treating of contracts.
Example: When I bought my phone, I didn't pay in one full payment. Thus, I signed a 2-year contract saying that I will pay the phone and the services for that period. If I choose to switch my phone before, I will pay a penalty.
fr: Contrat
The man is signing a legal document : a contract.
Cost
Noun
To estimate the price of making a product.
Example: The cost of producing a cellphone is $500.
fr: Le coût
This graph shows the cost of a company for an item.
Credit
Noun
The ability to obtain goods or services before payment, based on the trust that payment will be made in the future.
Example: The bank gave me a $100 000 credit for me to buy this house. Thus, I owe the bank $100 000.
fr: Un crédit
In order to have a credit from the bank, you need a credit card to build up a credit score.
Discount
Noun
A deduction from the usual cost of something.
Example: I bought this car because I had $1 000 discount.
fr: Rabais
This is a 50% discount, therefore, if the initial price is $100, the buyer will only pay $50 before tax.
Distribution
Noun
The delivering of products to end-users.
Example: The company guaranteed the distribution of my motorcycle before Monday.
fr: Distribution
This shows the line of distribution of a company.
Downsizing
Noun
Making a company smaller by eliminating staff positions through lay-offs.
Example: I lost my job because my company went through a downsizing process.
fr: Une réduction des effectifs
These people lost their job because the company went through a downsizing process. Thus, they were fired.
Employer
Noun
A person or business that employs one or more people, especially for wages.
Example: In 2021, Walmart had 2.3 million employee, therefore, they were the biggest employer in the world.
fr: Employeur
The woman hired the man, therefore, she is her employer.
Incentive
Noun
A thing that motivates or encourages one to do something.
Example: My boss gave me $500 as an incentive to keep working with him.
fr: Incitation
This employee wants to keep working in order to take the money in front of him. The money is his incentive to keep working.
Profit
Noun
A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
Example: Since it cost me $1,99 to make this item, and I sold it at $5,99, I made a profit of $4,00.
fr: Profit
Purchase
Noun
Acquisition through the payment of money or its equivalent.
Example: I purchased this car.
fr: Achat
The woman bought clothes, therefore, she made a purchase.
Refund
Noun
To give money back.
Example: My lettuce was rotten, therefore, I asked the chaser for a refund.
fr: Remboursement
The man or the woman is giving the money back to another person.
Salary
Noun
A fixed amount periodically paid to a person for regular work or services.
Example: Since I'm working for this company, I'm earning a salary.
fr: Salaire
One man is paying the other for his work.
Share
Noun
A unit for the capital or stock of a company.
Example: I bought a share of Tesla on the stock market. The symbol is tsla.
fr: Une action
This is the graph of one Tesla share throughout the day.
Tax
Noun
A compulsory contribution to state revenue, levied by the government on worker's income and business profits or added to the cost of some goods, services, and transactions.
Example: I paid a $5 tax for this item.
fr: Taxe
In this picture, the person pays 10% more to the final cost in order to pay the 10% tax owed to the government on each purchase.