Accounts Payable (AP) / Accounts Receivable (AR): AP refers to the money a company owes to its suppliers and creditors. Conversely, AR is the money owed to a company by its customers for goods or services delivered.
Acquisition: The process where one company purchases most or all of another company’s shares to gain control, often to expand market share or add new services.
Action Item: A specific, discrete task assigned to an individual or team during a meeting. A complete action item includes a description of the task, an owner, and a deadline to ensure accountability and follow-through.
Active Listening: A communication technique that involves being fully present and concentrating on what is being said, understanding the message from the speaker’s perspective, responding thoughtfully, and retaining the information.
Adjourn: To formally bring a meeting to an end.
Agenda: A structured list of topics and activities to be discussed during a meeting. It serves as a roadmap to keep the discussion focused, manage time, and ensure all objectives are met.
ASAP (As Soon As Possible): An acronym indicating that a task is urgent and requires immediate attention or completion.
Assets: Resources with economic value that are owned by a business, such as physical property, cash, stock certificates, or patents, with the expectation that they will provide a future benefit.
B
B2B (Business-to-Business) / B2C (Business-to-Consumer): B2B describes transactions and relationships between two businesses. B2C describes transactions and relationships between a business and individual consumers.
Backburner: A metaphorical place where tasks or projects are de-prioritized or set aside to be addressed at a later time.
Balance Sheet: A core financial statement that provides a snapshot of a company’s assets, liabilities, and shareholders’ equity at a specific point in time.
Bandwidth: In a technical context, it is the data transmission capacity of a network. In business jargon, it refers to a person’s or team’s capacity to take on additional work or responsibilities.
BATNA (Best Alternative to a Negotiated Agreement): A negotiator’s most advantageous course of action if the current negotiations fail and an agreement cannot be reached. It is a key source of negotiating power.
BCC (Blind Carbon Copy): An email field used to send a copy of a message to a recipient without the other recipients being aware of it.
Benchmarking: The process of comparing a company’s processes, products, or performance metrics to those of industry leaders or competitors to identify best practices and areas for improvement.20
Body Language: A form of nonverbal communication that includes posture, gestures, and facial expressions, which can convey a person’s feelings, confidence, or intentions, often more powerfully than words.
Brainstorming: A group creativity technique used to generate a large number of ideas for solving a problem. The process encourages free thinking and defers judgment to foster an open and innovative environment.
Budget: A financial plan that outlines expected income and expenses over a specific period, used for managing finances and allocating resources effectively.
C
Call to Action (CTA): An instruction, link, or button in marketing materials designed to prompt an immediate response from the audience, such as “Buy Now,” “Download the Report,” or “Subscribe Today”.
Capital: The financial assets or the financial value of assets, such as cash, equipment, and buildings, that a business owns and uses to function.
CC (Carbon Copy): An email field used to send a copy of a message to recipients who are not the primary addressee but need to be kept informed for transparency.
Channel: The medium through which a message is sent, such as email, a phone call, a video conference, or an in-person meeting.
Clarity: The quality of being coherent and intelligible. In professional communication, it means ensuring a message is conveyed in a clear and easily understood manner to avoid ambiguity.
Cloud Computing: The on-demand delivery of computing services—including servers, storage, databases, and software—over the Internet (“the cloud”).
COB (Close of Business): A deadline for a task, typically referring to the end of the standard workday, often considered to be 5:00 PM in the relevant time zone.
Collaboration: The action of working with one or more people to produce or create something, which is essential for effective teamwork and project success.
Conciseness: The practice of conveying a message clearly and effectively using as few words as possible, respecting the audience’s time and preventing information overload.
Concession: An item or point that one party in a negotiation yields or compromises on, often strategically, to advance the negotiation toward a mutually agreeable outcome.
Conflict Resolution: The process by which two or more parties engaged in a disagreement, dispute, or debate reach an agreement resolving it.
Consensus: A decision-making technique in which all members of a group must agree on the same decision, ensuring broad support for the outcome.
Contract: A legally binding agreement between two or more parties that outlines the terms, conditions, rights, and responsibilities of their relationship.
Core Competency: A specific factor, skill, or unique advantage that a business has over its competitors, which is central to its success.
Counter-Offer: A response to an initial offer that rejects the original terms and simultaneously proposes new ones, thereby continuing the negotiation process.
CRM (Customer Relationship Management): Refers to the software and systems a company uses to manage and analyze customer interactions and data throughout the customer lifecycle.
Culture: In a business context, the system of shared values, beliefs, and practices that influences how individuals within an organization or group perceive the world and communicate.
D
Dashboard: A business intelligence tool that provides a visual representation of key performance indicators (KPIs), metrics, and data points, allowing for at-a-glance monitoring of performance.
Deadline: A specific date or time by which a task, project, or goal must be completed.
Deliverable: A tangible or intangible product or service that is produced as the result of a project and is intended to be delivered to a customer or stakeholder.
DEI (Diversity, Equity, and Inclusion): An organizational framework and set of practices that seek to promote the fair treatment and full participation of all people, especially groups who have been historically underrepresented.
Diction: The choice and use of words and phrases in speech or writing. Effective diction is crucial for ensuring a message is clear, appropriate for the audience, and impactful.
Direct Communication: A communication style where the speaker’s intent is stated explicitly, clearly, and literally, with little reliance on context or nonverbal cues. It prioritizes efficiency and clarity.
E
E-commerce: The buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.
Empathy: The ability to understand and share the feelings of another person. It is a critical interpersonal skill for building rapport, fostering teamwork, and effective leadership.
Employee Engagement: The level of an employee’s emotional commitment, motivation, and connection to their organization and its goals.
Enunciation: The act of pronouncing words clearly and distinctly. Good enunciation is fundamental to effective verbal communication, ensuring the audience can easily understand every word.
EOD (End of Day): Similar to COB, an acronym for a deadline indicating that a task must be completed by the end of the workday.
ETA (Estimated Time of Arrival): The projected time that a person, delivery, or project completion is expected.
Ethics: A set of moral principles that govern a person’s or group’s behavior in a professional context, distinguishing right from wrong.
Executive Summary: A brief, self-contained section at the beginning of a long report or proposal that summarizes the document’s most critical information, intended for busy decision-makers.
F
Facilitator: A neutral individual whose role is to guide the process of a meeting or workshop to ensure it is effective and collaborative. The facilitator focuses on process, not content, keeping the group on track and encouraging participation.
FAQ (Frequently Asked Questions): A list of common questions and their corresponding answers related to a specific topic, product, or service, designed to provide quick information.
Feedback: A response or reaction to a message, performance, or product. In a professional context, it is used to confirm understanding or provide constructive comments for improvement.
Fiscal Year (FY): A one-year period that a company or government uses for accounting, financial reporting, and budgeting purposes. It may not align with the calendar year.
Follow-Up: A subsequent communication or action taken after an initial interaction to continue a conversation, provide additional information, or ensure tasks are completed.
FYI (For Your Information): An acronym used to share information with someone without requiring a specific action or response from them.
G
Game Changer: An idea, event, or product that significantly transforms a situation or field. It is often used as a synonym for something impactful or revolutionary.
Gateway: In digital communication, a gateway is a device that connects different networks by translating data and protocols, enabling real-time communication between them.
Gesture: A key component of non-verbal communication where movement of the body, particularly the hands or head, is used to express an idea, emotion, or meaning.
Gist: The essential meaning or main point of a speech or text.
Go the extra mile: A common professional phrase that means to make a special effort to achieve something or do more than is expected.
Golden Handshake: A clause in an executive’s employment contract that provides a significant payment or other benefits if they are dismissed.
Goodwill: An accounting term for the value of an asset owned by a company that is not physical, such as a brand name or a strong customer base.
Grapevine: The unofficial and informal communication network within an organization, often characterized by the spread of rumors and gossip.
Gross Profit (GP): A measure of profitability calculated as the total revenue from sales minus the cost of the goods sold. It represents the portion of each sales dollar available to cover operating costs and generate profit.
Group Discussion: A gathering where people exchange information, ideas, and suggestions on a specific topic.
H-1B Visa: A non-immigrant visa that allows U.S. employers to temporarily employ foreign workers in specialty occupations.
Habeas Corpus: A legal recourse through which a person can report an unlawful detention or imprisonment to a court.
Haggle: To dispute or bargain persistently, especially over the cost of something.
Hard Copy: A physical printout of a document, as opposed to an electronic version.
Hard Stop: A non-negotiable end time for a meeting or event.
Headcount: The total number of people employed by a company.
Hedge Fund: A limited partnership of investors that uses high-risk methods, such as investing with borrowed money, in hopes of realizing large capital gains.
Hierarchy: A system in which members of an organization or society are ranked according to relative status or authority.
I
Incentive: A payment, reward, or concession offered to stimulate greater output, motivation, or investment.
Indirect Communication: A communication style where the speaker’s true meaning is conveyed through subtle language, hints, and nonverbal cues, often to maintain harmony, show politeness, or avoid direct conflict.
Intercultural Communication: The exchange of information between individuals from different cultural backgrounds, which requires an understanding of how cultural values and norms shape communication styles.
Interpersonal Skills: The skills used to interact and communicate effectively with other people on a one-on-one or group basis, including active listening, empathy, and teamwork.
Interview: A formal meeting in which one person asks questions of another to communicate skills, experiences, and interests, most commonly in the context of a job application.
Invoice: A commercial document issued by a seller to a buyer, detailing the products or services provided and the total amount due for payment.
IPO (Initial Public Offering): The process by which a private company first sells shares of its stock to the public, thereby becoming a publicly-traded company.
IT (Information Technology): The department responsible for managing a company’s computer systems, networks, hardware, and software infrastructure.
J
Jargon: Specialized words or expressions used by a particular profession or group that can be difficult for outsiders to understand. While efficient for insiders, it can create communication barriers with others.
Jargon: Specialized words or expressions used by a particular profession or group that can be difficult for outsiders to understand.
Jeopardy Assessment: An action taken by the IRS to immediately collect a tax liability when it believes collection is at risk.
Jingle Marketing: A marketing technique that uses a short, catchy song or tune in advertising to promote a product or service.
Job Burnout: A state of physical or emotional exhaustion combined with a sense of reduced accomplishment and loss of personal identity, often related to one’s job.
Job Hopping: The practice of changing jobs frequently, typically every one to two years.
Joint Account: A bank account held in the names of two or more people, giving each individual rights to the account’s funds. 16
K
Keynote Speech: A speech that sets the main underlying theme and tone for a conference, convention, or major event, often delivered by a prominent figure to frame the core message of the event.
KPI (Key Performance Indicator): A quantifiable, critical measure of progress toward an intended result. KPIs are used by organizations to evaluate their success at reaching targets and to provide an analytical basis for decision-making.
Kaizen: A Japanese business philosophy of continuous improvement of working practices and personal efficiency.
Kanban: A scheduling system for lean and just-in-time (JIT) production, which uses visual signals to trigger action and manage workflow.
Key Man Clause: A contractual provision that stipulates a contract is dependent on a specific individual remaining in their role.
Key Performance Indicator (KPI): A quantifiable measure used to evaluate the success of an organization, employee, or project in meeting objectives for performance.
Key Results Area (KRA): Strategic factors or activities where favorable results are necessary for a company to achieve its goals.
Key Success Factor (KSF): The essential elements or conditions that must be met for a business to succeed in its industry.
Keynote: A speech that sets out the central theme of a conference or event. 27
L
Latency: The delay or “lag” experienced in data transmission over a network. In a video conference, high latency can result in a noticeable delay between when a person speaks and when others hear them.
Leadership: The action of leading a group of people or an organization. It involves inspiring, motivating, and guiding individuals and teams toward a common goal through effective communication and vision.
Leverage: The power or advantage one party has to influence the other party in a negotiation. Leverage is often determined by which party has the most to lose from a “no deal” outcome.
Liabilities: A company’s financial debts or obligations that arise during the course of its business operations and are owed to other parties.
Low-Context Culture: A culture where communication is typically direct, explicit, and clear. The primary meaning of a message is conveyed through the spoken or written words themselves, with little reliance on context.
M
Margin: The difference between the seller’s cost for acquiring products and the selling price, often expressed as a percentage. It is a key indicator of profitability.
Market Research: The process of gathering information about consumers’ needs, preferences, and the market environment to inform business decisions.
Market Share: The portion or percentage of a total market that is controlled by a particular company or product.
Marketing: The action or business of promoting and selling products or services, which includes activities like advertising, market research, and public relations.
Memo (Memorandum): A short, internal document used to communicate information within an organization. Memos are characterized by their brevity, directness, and a standard header with “TO:”, “FROM:”, “DATE:”, and “SUBJECT:” lines.
Metrics: Quantifiable measures that are used to track and assess the status of a specific business process, project, or employee performance.
Micromanage: To control every part, however small, of an enterprise or activity in a way that is excessive or seen as a negative management style.
Minutes: The official written record of a meeting. They document key information, including attendees, summaries of discussions, major decisions made, and a list of action items.
Mission Statement: A formal summary of the aims, values, and purpose of a company or organization.
MVP (Minimum Viable Product): An initial version of a new product with just enough features to be usable by early customers, who can then provide feedback for future product development and refinement.
N
Negotiation: A strategic discussion between two or more parties that aims to resolve an issue or reach a mutually acceptable agreement.
Net: The amount remaining after all deductions or expenses have been subtracted from the total, or gross, amount (e.g., net profit, net income).
Networking: The action or process of interacting with others to exchange information and develop professional or social contacts for mutual benefit.
Niche Market: A small, specialized, and clearly defined segment of a larger market that a specific product or service is focused on.
Noise: In communication theory, any distraction, interference, or barrier that interrupts a message from being accurately understood by the receiver.
Nonverbal Communication: The transmission of messages or signals through a nonverbal platform such as eye contact, facial expressions, gestures, posture, and the distance between two individuals.
Norms: The unwritten, informal rules of beliefs, attitudes, and behaviors that are considered acceptable and are shared by members of a particular social group or culture.
O
Onboarding: The process of integrating a new employee into an organization, which includes providing them with the tools, knowledge, and resources to become a productive member of the team.
OOO (Out of Office): An acronym commonly used in automated email replies and status messages to indicate that a person is currently unavailable for work.
Outsourcing: The business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company’s own employees and staff.
Objective: The specific goal or target that is intended to be achieved.
Obligation: A legal or moral duty to do or pay something; a commitment or responsibility.
Obsolete: No longer in use, produced, or needed; outdated.
Onboarding: The process of integrating a new employee into an organization, which includes providing them with the tools, knowledge, and resources to become a productive member of the team.
OOO (Out of Office): An acronym used in automated email replies and status messages to indicate that a person is currently unavailable for work.
Open Source: Software for which the original source code is made freely available and may be redistributed and modified.
Operational Excellence: A business philosophy focused on the sustainable improvement of key performance metrics and processes.
Opportune: Suitable or advantageous for a particular purpose; timely.
P
Paralanguage: The non-lexical components of speech, such as tone of voice, pitch, volume, and pacing, which can significantly affect how a verbal message is interpreted.
Performance Review: A formal assessment in which a manager evaluates an employee’s work performance, identifies strengths and weaknesses, offers feedback, and sets goals for future performance.
Phishing: A type of cyberattack where malicious actors attempt to trick individuals into revealing sensitive information—such as usernames, passwords, and credit card details—by disguising themselves as a trustworthy entity in an electronic communication.
Pitch: A concise and persuasive presentation of a business idea, product, or service, typically delivered to potential investors, clients, or partners with the goal of securing support or investment.
Plagiarism: The practice of taking someone else’s work or ideas and passing them off as one’s own without giving proper credit.
POC (Point of Contact): The designated individual or department to communicate with about a specific matter, project, or issue.
Posture: The position in which someone holds their body when standing or sitting. Posture is a key element of body language and can convey confidence, disinterest, or defensiveness.
Presentation: A speech or talk in which a new product, idea, or piece of work is shown and explained to an audience for a specific purpose.
Profit: A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
Proposal: A formal document that offers a plan, suggestion, or solution for a project or collaboration, submitted for consideration and approval by others.
Proxemics: The study of how people use space in communication. It refers to the distance maintained between individuals during interaction, which can vary by culture and the nature of the relationship.
Public Relations (PR): The professional maintenance of a favorable public image by a company or other organization, managing communication between the organization and its public.
Q
Q&A Session (Question & Answer): An interactive period, usually following a presentation or panel discussion, during which audience members can ask questions directly to the speaker(s) to clarify points and foster dialogue.
Quorum: The minimum number of members of a committee, board, or other deliberative assembly that must be present for a meeting to be valid and for official business to be transacted.
R
R&D (Research and Development): The department or activities within a company focused on innovation and the creation of new products, services, or processes.
Rapport: A close and harmonious relationship in which the people or groups concerned understand each other’s feelings or ideas and communicate well. Building rapport is essential for effective collaboration and client relationships.
Recruitment: The overall process of identifying, attracting, screening, shortlisting, and interviewing suitable candidates for jobs within an organization.
Report: A detailed document providing information, analysis, or recommendations on a particular subject, often used for decision-making or record-keeping.
Reservation Price: In a negotiation, this is a party’s “bottom line”—the least favorable point at which they will accept a deal before walking away.
Revenue: The total income generated by a business through its primary activities, such as the sale of goods or services, before any expenses are deducted.
Risk Management: The process of identifying, assessing, and controlling financial, legal, strategic, and security threats to an organization’s capital and earnings.
ROI (Return on Investment): A performance measure used to evaluate the efficiency or profitability of an investment. It is calculated by dividing the net profit of an investment by its cost.
S
Salutation: The greeting at the beginning of a letter or email, such as “Dear Mr. Smith,” “Hello, James,” or “Hi Team.” The choice of salutation sets the tone of the message.
Screen Sharing: A common feature in video conferencing and web conferencing platforms that allows one participant to broadcast the contents of their computer screen to all other participants.
SEO (Search Engine Optimization): The process of improving a website to increase its visibility when people search for products or services related to your business in search engines like Google.
Stakeholder: Any individual, group, or organization that has a vested interest in the actions and outcomes of a business or project. Common stakeholders include employees, customers, investors, and suppliers.
Stereotype: An oversimplified and often fixed belief about a particular type of person or thing. In a professional context, stereotypes can be a significant barrier to effective intercultural communication.
Strategic Planning: An organizational management activity used to set priorities, focus energy and resources, strengthen operations, and ensure that employees and other stakeholders are working toward common goals.
SWOT Analysis: A strategic planning framework used to evaluate a company’s competitive position by identifying its Strengths, Weaknesses, Opportunities, and Threats.
Synergy: The concept that the combined value and performance of two companies or teams working together will be greater than the sum of their separate, individual parts. It is often cited as a key benefit of mergers and acquisitions.
Synchronous Communication: Communication that occurs in real-time, where all participants are engaged in the exchange simultaneously. Examples include phone calls, video conferences, and instant messaging.
T
Talent Acquisition: The ongoing strategic process of finding, attracting, and hiring skilled human labor to meet an organization’s needs.
Team Building: The process of turning a group of individual contributing employees into a cohesive and effective team through various activities and strategies.
Telepresence: A sophisticated form of video conferencing that uses high-definition video, life-sized displays, and high-quality audio to create a more immersive and realistic meeting experience, giving participants the feeling of being in the same room.
Terms of Reference (ToR): A formal document that serves as a blueprint for a project, study, or assignment. It defines the project’s purpose, scope, objectives, deliverables, and timeline.
Tone: The quality, character, or attitude of a voice or written message. Tone can significantly impact how a message is received and interpreted, conveying emotions such as formality, friendliness, or authority.
Touch Base: A common business phrase meaning to make contact or reconnect with someone briefly to get an update, share information, or maintain a connection.
V
Values: A culture’s or organization’s standards for what is considered good, just, or desirable. Values are deeply embedded and influence beliefs, norms, and behavior.
Variable Costs: Costs that change in proportion to the quantity of a good or service that a business produces. Examples include raw materials and commissions.
Verbal Communication: The use of spoken words to share information, ideas, and feelings with others. It is a fundamental mode of communication in any professional setting.
Visual Communication: The conveyance of ideas and information through the use of visual aids such as images, graphs, charts, and videos. It is highly effective for presenting data and explaining complex concepts.
VPN (Virtual Private Network): A service that creates a secure, encrypted connection over a public network like the internet. VPNs are essential for remote workers to securely access a company’s internal network.
W
WFH (Work From Home): An acronym indicating that an employee is working remotely from their home rather than from a central office location.
Workflow: The sequence of processes through which a piece of work passes from initiation to completion. Efficient workflows are key to productivity.
Waiver: The intentional and voluntary relinquishment of a known right or claim.
Warehouse: A large building where raw materials or manufactured goods are stored before their distribution for sale.
Warrant: A document issued by a company that gives the holder the right to purchase a specific number of shares of stock at a predetermined price within a set time frame.
Warranty: A written guarantee from a manufacturer to a consumer, promising to repair or replace a product if it breaks within a specific period.
WFH (Work From Home): An acronym indicating that an employee is working remotely from their home rather than from a central office location.
White Label: A product or service produced by one company that other companies rebrand to make it appear as if they had made it.
Wholesaler: A person or company that sells goods in large quantities at low prices, typically to retailers.
Win-Win: A situation or outcome where all parties involved benefit or are satisfied.
X
X-Efficiency: A measure of how well a company is able to produce at the lowest possible cost per unit.
XBRL (eXtensible Business Reporting Language): A global standard for exchanging business information, particularly financial data.
xFN (Cross-functional): An acronym that refers to collaboration between people from different teams or departments within a company to work on a common goal.
Xenocurrency: Any currency that is deposited or traded in markets outside of the country where it was issued.
XML (Extensible Markup Language): A markup language that defines a set of rules for encoding documents in a format that is both human-readable and machine-readable, often used for data exchange.
Y
YTD (Year to Date): A period of time starting from the beginning of the current year (either calendar or fiscal) and continuing up to the present day. It is commonly used in financial and performance reporting.
YoY (Year over Year): A method of comparing financial results or other data from one period to the same period in the previous year. It is used to analyze trends and measure growth.
Yankee Bond: A bond issued by a foreign entity that is traded in the United States and denominated in U.S. dollars.
Year-and-a-day rule: A common law rule that states a person cannot be convicted of murder if the victim dies more than a year and a day after the act that caused the death.
Year-to-year tenancy: A rental agreement that extends for a year at a time.
Yellow Dog Contract: A historical term for a contract between a worker and an employer in which the worker agrees not to remain in or join a union as a condition of employment.
Yield: The income return on an investment, such as the interest or dividends received from a security. It is usually expressed as an annual percentage.
Yield Curve: A graph that plots the interest rates (yields) of bonds having equal credit quality but different maturity dates.
Z
Zero-Based Budgeting (ZBB): A method of budgeting in which all expenses must be justified for each new period. Budgets are built from a “zero base,” rather than being based on the previous period’s budget.115
ZOPA (Zone of Possible Agreement): The range in a negotiation where two or more parties can find common ground. It is the set of all possible deals that would be acceptable to both parties, existing between each party’s reservation price.
Zero-Based Budgeting (ZBB): A method of budgeting in which all expenses must be justified for each new period, starting from a “zero base” rather than using the previous period’s budget as a baseline.
Zero Coupon Bond: A debt security that does not pay periodic interest but is instead traded at a deep discount, rendering a profit at maturity when the bond is redeemed for its full face value.
Zero In: To focus one’s attention on a specific point or detail.
Zero-Sum Game: A situation in which one person’s gain is equivalent to another’s loss, so the net change in wealth or benefit is zero.
Zero-Tolerance Policy: A policy that imposes a strict punishment for every infraction of a stated rule, with no exceptions.
Zombie Fund: A type of investment fund that is no longer open to new investors but continues to manage its existing portfolio.
Zombie Project: A project that continues to consume resources but is failing or has no clear direction, yet is kept alive for various reasons.
