business area
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business area
A specific area or sector in which a company is economically active.
Das Unternehmen plant, in das neue Geschäftsfeld der Elektromobilität einzusteigen.
The company plans to enter the new business area of electric mobility.
The word is made up of 'Geschäft' (business) and 'Feld' (field). The 's' in between is a linking element that connects the two words. Literally, it describes a 'field' or area of economic activity.
Unser Hauptgeschäftsfeld ist die Softwareentwicklung.
Our main business area is software development.
'Geschäftsfeld' (business area) is a typical term from business language. It is used mainly in formal contexts such as annual reports, presentations, or business news.
Die Firma präsentiert ihre Strategie für neue Geschäftsfelder.
The company is presenting its strategy for new business areas.
Common verbs used with 'Geschäftsfeld' (business area) are 'ein Geschäftsfeld erschließen' (to develop/open up a business area), 'in ein Geschäftsfeld einsteigen' (to enter a business area), or 'ein Geschäftsfeld ausbauen' (to expand a business area).
Das Start-up will das lukrative Geschäftsfeld der künstlichen Intelligenz erschließen.
The start-up wants to develop the lucrative business area of artificial intelligence.
The preposition 'in' is often used. 'In ein Geschäftsfeld einsteigen' (to enter a business area, accusative) describes the beginning of an activity, while 'in einem Geschäftsfeld tätig sein' (to be active in a business area, dative) describes ongoing activity.
Wir sind seit über zehn Jahren in diesem Geschäftsfeld erfolgreich tätig.
We have been successfully active in this business area for over ten years.
industry
'die Branche' and 'das Geschäftsfeld' both describe areas of the economy. 'Branche' means a larger industry or economic sector in which many companies operate, for example 'die Baubranche' (the construction industry) or 'die Lebensmittelbranche' (the food industry). 'Geschäftsfeld' refers more to a specific area within a company or a company strategy. So a company can work in an industry and have several business areas. The words can be confused when speaking generally about business. 'Branche' is more natural when you mean the market or many companies; 'Geschäftsfeld' fits better when it is about the activities of a specific company.
Das Unternehmen erweitert sein Geschäftsfeld um digitale Beratung.
The company is expanding its business area to include digital consulting.
In der Pflegebranche gibt es viele offene Stellen.
There are many vacancies in the care industry.