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ACT Humanities - Business and Management

Here you will learn some English words related to business and management, such as "induct", "slogan", "affiliation", etc. that will help you ace your ACTs.

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ACT Vocabulary for Humanities
occupation

a person's profession or job, typically the means by which they earn a living

Ex: Teaching is a rewarding occupation that allows educators to make a positive impact on young minds. 
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profession

a paid job that often requires a high level of education and training

Ex: Teaching is a noble profession that requires dedication and patience. 
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affiliation

a connection between a person, group, or organization and another entity, often involving membership, support, or shared identity

Ex: Her affiliation with the university gave her access to research grants. 
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corporation

a company or group of people that are considered as a single unit by law

Ex: The corporation expanded its operations into international markets last year. 
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foundation

an organization established with a specific mission or purpose, often dedicated to charitable, educational, cultural, or research activities

Ex: The foundation supports medical research through grants and scholarships. 
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enterprise

a company

Ex: The family-owned enterprise has been in operation for over three generations. 
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bureau
bureau
[noun]

a specific section within a government department which is responsible for specific tasks, functions, etc.

Ex: The environmental protection bureau is responsible for overseeing and implementing policies related to conservation and pollution control. 
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headquarters

the place where the main offices of a large company or organization are located

Ex: The company's headquarters are located in downtown New York City. 
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start-up
start-up
[noun]

a newly established company or business venture, typically characterized by its innovative approach, early-stage development, and a focus on growth

Ex: He launched a tech start-up with his friends. 
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portfolio
portfolio
[noun]

a group of shares that a person or organization owns

Ex: She diversified her investment portfolio to include stocks, bonds, and real estate. 
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guild
guild
[noun]

an association of people who work in the same industry or have similar goals or interests

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chief executive officer

the highest-ranking person in a company

Ex: The CEO announced a new strategy for the company. 
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entrepreneur

a person who starts a business, especially one who takes financial risks

Ex: As an entrepreneur, she started her own tech company with just a small investment. 
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to govern
to govern
[Verb]

to regulate or control a person, course of action or event or the way something happens

Ex: The new laws will govern how companies can handle customer data to ensure privacy and security. 
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to administer

to be responsible for a company, organization, etc. and manage its affairs, including financial matters

Ex: The CEO diligently administers the company, overseeing its overall operations and strategic direction. 
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supervision

the act or process of overseeing the activities of individuals or a group to ensure compliance with rules or objectives

Ex: The manager provided clear supervision to the team, ensuring that project tasks were completed on schedule and according to quality standards. 
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to oversee

to observe an activity in order to ensure that everything is done properly

Ex: She was hired to oversee the day-to-day operations of the company. 
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to preside

to act in an authoritative role in a ceremony, meeting, etc.

Ex: The judge will preside over the trial and ensure that proceedings are conducted fairly. 
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copyright
copyright
[noun]

a legal permission to control the production of a book, movie, music, etc.

Ex: The author registered the copyright for her novel to prevent unauthorized copies. 
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sector
sector
[noun]

a specific part or branch of an economy, society, or activity with its own distinct characteristics and functions

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designation

the act of assigning a person to a specific position or role, typically based on qualifications, skills, or organizational needs

Ex: The designation of the new CEO was announced at the shareholders' meeting. 
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turnover
turnover
[noun]

the rate at which employees leave a company and are replaced by new hires within a specified period

Ex: The company's high turnover rate prompted management to review employee retention strategies. 
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productivity

the state or condition of being productive, or the ability to produce or generate goods, services, or results efficiently and effectively

Ex: The team's productivity increased after implementing new project management tools. 
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internship

the initial phase of medical training in which a graduate works under supervision in a hospital or clinic

Ex: She began her medical internship in the emergency department of a city hospital. 
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menial
menial
[Adjective]

(of work) not requiring special skills, often considered unimportant and poorly paid

Ex: She took a menial job to support herself during college. 
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inventory
inventory
[noun]

a detailed list or record of all the items or goods in stock or on hand within a particular location, organization, or system

Ex: The warehouse manager conducted a monthly inventory count to track stock levels. 
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bureaucrat

a government official or employee who works within a bureaucratic system, typically involved in implementing and administering government policies and procedures

Ex: The bureaucrat processed the paperwork required for citizens to obtain government services. 
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sideline
sideline
[noun]

a secondary or additional line of merchandise or products that complement a company's primary offerings

Ex: The bookstore's sideline in stationery and gift items proved to be popular among customers. 
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workshop
workshop
[noun]

a building or room in which particular goods are made or fixed by different means

Ex: The carpentry workshop is equipped with saws, drills, and sanders for making wooden furniture. 
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vendor
vendor
[noun]

someone on the street who offers food, clothing, etc. for sale

Ex: The vendor offered fresh fruit and snacks on the corner. 
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parlor
parlor
[noun]

a shop or business offering specific goods or services

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stall
stall
[noun]

a stand or a small table or shop with an open front where people sell their goods

Ex: He set up a small stall to sell handmade jewelry. 
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outsourcing

the process of having someone outside of a company provide goods or services for that company

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bookkeeping

the systematic recording, organizing, and maintaining of financial transactions of a business or organization

Ex: The small business owner hired a bookkeeper to manage the company's daily bookkeeping tasks. 
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slogan
slogan
[noun]

a short memorable phrase that is used in advertising to draw people's attention toward something

Ex: The company's slogan "Just Do It" became synonymous with their brand, inspiring millions of athletes worldwide. 
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to telecommute

to work remotely from a location other than the traditional office

Ex: The company encourages employees to telecommute during inclement weather to ensure their safety. 
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to induct
to induct
[Verb]

to formally put someone in a position or job, especially with an official ceremony

Ex: She has been inducted into the organization's board of directors for her significant contributions. 
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commission

a sum of money paid to someone based on the value or quantity of goods they sell

Ex: The salesperson earns a 10% commission on every sale. 
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trademark
trademark
[noun]

a name or design that exclusively belongs to a particular company or its products

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to commercialize

to make something into a business or focus on making money from it

Ex: The company commercialized the technology for mass production. 
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to decentralize

to transfer decision-making or administrative power from a central authority to local or regional entities

Ex: The company decided to decentralize its operations, allowing regional offices to make independent decisions tailored to local market conditions. 
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to retail
to retail
[Verb]

to sell small quantities of goods directly to customers

Ex: Local businesses often retail fresh produce to community members. 
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to appoint

to give a responsibility or job to someone

Ex: The manager decided to appoint a new team leader to oversee the project. 
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to enlist
to enlist
[Verb]

to formally recruit or hire someone for work or participation in an activity

Ex: The company enlisted new employees to expand its customer support team. 
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to recruit

to employ people for a company, etc.

Ex: The company is actively recruiting new graduates for entry-level positions. 
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to mass-produce

to manufacture large quantities of goods or products using standardized methods and machinery

Ex: The automotive company mass-produces vehicles to meet global demand. 
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to demonetize

to cease to use something as a legal currency or declare it invalid for transactions

Ex: The company decided to demonetize its old gift cards to introduce a new, updated system. 
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to stock
to stock
[Verb]

to provide with a supply of something, such as goods or inventory, for use or sale

Ex: Grocery stores need to stock their shelves regularly to meet customer demands. 
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to clinch
to clinch
[Verb]

to decisively conclude something, such as an argument or a contract

Ex: After weeks of discussions, the two companies finally clinched the deal with a signed contract. 
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to sponsor

to cover the costs of a project, TV or radio program, activity, etc., often in exchange for advertising

Ex: The company sponsored the local sports team, contributing to their uniforms and equipment. 
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to streamline

to simplify or improve efficiency in a process, system, or organization by removing unnecessary steps or optimizing resources

Ex: The company streamlined its production process to reduce manufacturing costs. 
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