profit

Vocabulary Word

Definition

'Profit' is the money you have left after you take away all the costs from the money you received. It's like having a garage sale and after paying for the advertisement and snacks, you still have money left.

Examples in Different Contexts

In technology companies, 'profit' generation often relies on scalable and innovative products. A tech entrepreneur might assert, 'By developing scalable and user-friendly solutions, we aim to drive profits and reinvest in continuous innovation and improvement.'

Practice Scenarios

Tech

Scenario:

The new software gained popularity quickly, but supporting it involves high server maintenance costs. How do we balance this?

Response:

We can move to a cloud-based server to handle the software's popularity while keeping maintenance costs low. This should help improve our profit margin.

Business

Scenario:

Our Q2 revenue numbers are looking very promising. However, increased operational expenses may pose a significant challenge. Any suggestions?

Response:

I suggest we conduct an internal audit to identify areas where we can cut costs without compromising on quality, ensuring our profit remains healthy.