Wprowadzenie i podstawy biznesu

Język angielski w zastosowaniu zawodowym

Autor
Afiliacja

Ben Stanley

Wydział Nauk Społecznych, Uniwersytet SWPS

Opublikowano

25 kwietnia 2026

Vocabulary: globalisation and international trade

The glossary below collects the core terms covered in the seminar.

Trade policy instruments

Term Definition
Tariff A tax imposed on imported goods, usually to raise revenue or protect domestic producers.
Non-tariff barrier A regulation, standard, or licensing requirement that restricts imports without imposing a tax.
Quota A legal limit on the quantity of a particular good that may be imported over a given period.
Embargo A complete government ban on trade with a particular country, usually for political reasons.
Subsidy Financial support provided by a government to a domestic industry, producer, or sector.
Dumping Selling goods in a foreign market at prices below the cost of production, typically to capture market share.
Liberalisation The process of opening markets to international competition by removing tariffs, quotas, and non-tariff barriers.
Protectionism The doctrine and set of policies that restrict international trade to shield domestic industries from foreign competition.

Structures of economic integration

Term Definition
Globalisation The long-run process of increasing economic, political, technological, and cultural interconnection between the world’s countries.
Customs union A group of states that charge no customs duties on goods moving between them and apply a common external tariff to non-members.
Trade bloc A group of countries that negotiate preferential trading terms among themselves (e.g. ASEAN, Mercosur).
Bilateral trade Trade relations or agreements between two countries.
Multilateral trade Trade relations or agreements involving three or more countries simultaneously (the WTO framework).
Trade deficit The situation in which a country imports more goods and services (in value terms) than it exports.

Corporate strategy and cross-border operations

Term Definition
Foreign direct investment (FDI) Capital invested by a firm or individual in one country into business operations in another, typically to gain ownership or control.
Outsourcing Contracting business processes to an external company, often one located in a country with lower labour costs.
Joint venture A business arrangement in which two or more parties pool resources in a shared enterprise and split costs and profits.
Economies of scale The cost advantages that a firm obtains by increasing the scale of its production — fixed costs are spread over more units.
Localisation The adaptation of products, marketing, or services to the language, culture, and preferences of a specific target market.
Repatriation The transfer of profits earned by a foreign subsidiary back to the parent company’s home country.

Note for Polish speakers: subsidy is countable (a subsidy, subsidies) — unlike Polish subwencja / dotacja, which are often used uncountably in general talk. Say “agricultural subsidies”, not “agricultural subsidy” when speaking generally.

Vocabulary in context (from the reading)

When you revise this glossary, do not learn the words in isolation. Note how the reading text uses them:

  • Liberalisation has been a key driver of change.
  • Tariffs and non-tariff barriers have been reduced and eliminated.
  • Outsourcing has allowed firms to relocate business processes.
  • Economies of scale let companies reduce operational expenses.
  • Protectionism is rising in response to perceived inequalities of globalisation.

Grammar: the present perfect family

Why these tenses matter

Business communication constantly connects past events to present outcomes (“revenues have grown”), describes processes still unfolding (“we have been expanding”), and projects completion by future dates (“by 2030, we will have completed the transition”). Polish has no direct equivalent for these tenses — they are built from have + participle. Mastering them is essential for professional-level writing and speaking.

Present perfect

Form: has / have + past participle (the “third form” of the verb).

  • World trade has grown at a faster rate than production.
  • China has become the world’s largest exporter.

Use: for completed actions whose results are relevant now; for experiences at an unspecified past time; for changes and developments from past to present.

Typical time markers: since, for, already, yet, ever, never, recently, lately, just, so far, up to now, over the past X years.

Further examples:

  • Consumer prices have fallen in many product categories.
  • Many traditional manufacturing jobs have disappeared from Western economies.
  • Digital platforms have revolutionised how businesses connect with international customers.
  • International investors have shifted significant capital to Asian markets in recent years.
  • Developing nations have increased their share of global trade significantly since 2000.

Common mistakes (Polish speakers):

  • Using past simple with since / for: Since 2020 I worked here → Since 2020 I have worked here.
  • Confusing been and gone: She has been to Berlin (and returned) vs. She has gone to Berlin (still there).
  • Polish aspect does not map onto English tense — do not ask “was this perfective or imperfective in Polish?” Ask “is there a connection to now?”

Present perfect continuous

Form: has / have been + -ing form.

  • The WTO has been working since 1995 to reduce trade barriers.
  • E-commerce has been growing exponentially.

Use: for an action or process that started in the past and continues now, usually emphasising duration or the activity itself rather than a completed result. Especially useful for trends and ongoing processes — central to business discourse.

Typical time markers: since, for, all day, lately, recently, in recent years, over the past decade.

Further examples:

  • Multinational corporations have been adapting their strategies for many decades.
  • The gig economy has been changing traditional employment patterns over the past decade.
  • The European Union has been negotiating trade agreements with numerous countries since its inception.
  • Global companies have been struggling to adapt to changing regulatory environments since the financial crisis.
  • ASEAN has been fostering economic integration in Southeast Asia.

Present perfect vs. present perfect continuous — when to choose?

Criterion Present perfect Present perfect continuous
Focus Result, completion, quantity Duration, ongoing activity
Countable outcome We have signed five contracts. (not idiomatic with counts)
Ongoing trend (possible but less vivid) Sales have been rising all year.
Stative verbs (know, own, believe) Required Usually not used

Common mistakes:

  • Using continuous with stative verbs: I have been knowing him for years → I have known him for years.
  • Dropping been: We have working on this project → We have been working on this project.

Future perfect

Form: will have + past participle.

  • By 2050, several trends will have reshaped the global economic landscape.
  • By 2035, most major economies will have transitioned to renewable energy.

Use: to state that an action will be completed before a specific future time. The natural tense for projections, targets, and deadlines.

Typical time markers: by, by the time, by then, by the end of, before.

Further examples:

  • By 2030, e-commerce will have transformed the retail landscape completely.
  • Experts predict that by 2035, automation will have eliminated up to 30% of current jobs.
  • By the end of this decade, China will have overtaken the United States as the world’s largest economy.
  • By 2025, most multinational corporations will have established operations in emerging markets.
  • By 2050, several African nations will have developed into major economic powers.

Common mistakes:

  • Using will + infinitive for deadlines: By 2030, we will complete the project → By 2030, we will have completed the project.
  • Confusing by and until: by marks a deadline (finished by Friday); until marks duration (work until Friday).

Comparing the three tenses

Tense Time orientation Example
Present perfect Past → now (result matters now) The EU has created a single market.
Present perfect continuous Past → now (activity continues) The EU has been creating more integrated financial systems.
Future perfect Now → future (completed by future point) By 2030, the EU will have created a fully digital economy.

Grammar: conditionals

Conditionals are the grammar of business reasoning — strategy, forecasting, contingency, counterfactual analysis (“what would have happened if…”). Every manager uses them constantly.

Zero conditional — general truths

Form: If / When + present simple, present simple.

Use: states something that is always true, by definition or by reliable causal link. In business contexts it typically states economic laws, procedural norms, or policies.

Examples:

  • If you mix high demand with low supply, prices increase.
  • When a corporation issues new shares, existing shareholders dilute their ownership percentage.
  • If a customer complaint arrives, we log it within 24 hours.
  • When demand rises, prices go up.
  • If you add more value, customers pay more.

First conditional — real future outcomes

Form: If + present simple, will + base form.

Use: for situations the speaker considers realistic and possible in the future.

Examples:

  • If we launch the new product line next quarter, our revenue will increase.
  • If we reduce our prices, we will attract more customers.
  • If a partnership does not draft a comprehensive partnership agreement, they will encounter legal problems in the future.
  • If a cooperative manages to effectively pool resources, it will significantly reduce costs for its members.
  • If the cooperative does not meet its members’ needs, it will struggle to sustain its operations.

Polite / modal alternatives to will in the main clause: may, might, can, could, should, must, going to.

  • If we expand, we may need more office space.
  • If you sign today, you can keep the discount.

Second conditional — hypothetical, unlikely, or contrary-to-present-fact

Form: If + past simple, would + base form (often could or might).

Use: imagines a situation that is unlikely to happen, or that is not true right now. The past tense in the if-clause is not really past — it signals distance from reality.

Examples:

  • If we invested in blockchain technology, we could streamline our supply chain.
  • If the government raised corporate taxes, many firms would relocate abroad.
  • If an investor were more risk-averse, he would prefer investing in corporations over sole proprietorships.
  • If partnerships offered limited liability, would they be as popular as LLCs?
  • If a cooperative failed to distribute its profits equitably, it would risk losing its cooperative status.

Special note on were: in formal English (and classroom tests), use were for all persons in second-conditional if-clauses: If I were you… / If the market were stronger…. Was is accepted in informal speech but avoid it in exams and writing.

Third conditional — counterfactual past

Form: If + past perfect, would have + past participle (or could have, might have).

Use: reflects on a past event that did not happen, and imagines an alternative outcome. Central to post-mortems, audits, and strategic reviews.

Examples:

  • If we had expanded to the Asian market last year, we would have doubled our profits.
  • If the founders had chosen a corporation instead of a partnership at the outset, they might not have faced personal bankruptcy.
  • Had the business been structured as an LLC from the beginning, it would have enjoyed more flexibility in profit distribution.
  • Had the entrepreneur understood the implications of sole proprietorship, he might have opted for a different business entity.
  • If we had launched earlier, we would have captured more market share.

Formal and inverted conditionals

In formal business writing and presentations, conditionals are often expressed with inversion rather than if. The if is dropped; the auxiliary moves before the subject. This is typical of contracts, policy statements, and formal speeches.

Equivalent of Pattern Example
First conditional (formal) Should + subject + base form Should the market decline, we will need to adjust our strategy.
Second conditional Were + subject + to-infinitive Were the company to invest in R&D, it could gain a competitive advantage.
Third conditional Had + subject + past participle Had the board approved the merger, the company would have doubled in size.

Additional examples:

  • Should an entrepreneur fail to understand the tax implications of their chosen entity, they will face unexpected fiscal obligations.
  • Were a cooperative to implement innovative technology, it could streamline its operations and enhance member satisfaction.
  • Were a sole proprietorship to convert into a corporation, it might find it easier to attract investors.

Summary of conditionals

Type Structure Use Example
Zero If + present, present General truths If demand rises, prices increase.
First If + present, will + base Real future outcomes If we expand, we will need more staff.
Second If + past, would + base Hypothetical (unlikely or untrue now) If we had more funding, we would hire a consultant.
Third If + past perfect, would have + past participle Reflecting on the past If we had launched earlier, we would have captured more market share.
Inverted Were / Had / Should + subject… Formal register Were the CEO to resign, the share price would fall.

Common mistakes with conditionals (Polish speakers)

  • Using would in the if-clause: If we would invest, we would grow → If we invested, we would grow.
  • Mixing first and second: If we would launch next quarter, our revenue will increase → pick one register.
  • Misreading tense as time: the past simple in the second conditional is not past — it marks hypothetical distance.
  • Leaving out have in third conditional: If we had invested, we would doubled our profits → we would have doubled.

Quick reference: one-page revision

Tenses at a glance

  • Present perfect: has / have + past participle — result now (has grown).
  • Present perfect continuous: has / have been + -ing — duration / ongoing (has been growing).
  • Future perfect: will have + past participle — done by future point (will have grown).

Conditionals at a glance

  • Zero: If X happens, Y happens. (truth)
  • First: If X happens, Y will happen. (real future)
  • Second: If X happened, Y would happen. (hypothetical)
  • Third: If X had happened, Y would have happened. (counterfactual past)
  • Inverted: Should / Were / Had X…, Y… (formal)

Top 20 globalisation terms

Tariff, non-tariff barrier, quota, embargo, subsidy, dumping, liberalisation, protectionism, globalisation, customs union, trade bloc, bilateral trade, multilateral trade, trade deficit, foreign direct investment, outsourcing, joint venture, economies of scale, localisation, repatriation.