Business lingo for dummies

Tue 06 Mar

Having trouble understanding what your boss and co-workers are actually talking about?  Here’s a quick guide to some of the most-used business jargon out there.

Best Practice: a method or technique that delivers superior results compared with other methods or techniques

Bleeding Edge: when a product or service is bigger than simply cutting edge

Body of Work: the total output of an industry or company

Boil the Ocean: to waste time

Burning Platform: an impending crisis

Buy-In: agreement on a course of action

Core Competency: refers to a firm’s or a person’s fundamental strength

Drill Down: examining a subject more closely

Drinking the Kool-Aid: to blindly accept something, such as a company’s “mission statement”

Ducks in a Row: to make a plan

Ecosystem: the interlinked collection of designers, vendors, manufacturers and customers that defines an industry

Empower: what someone above your pay grade does when, apparently, they would like you to do a job of some importance

Leverage: how a situation or environment can be manipulated or controlled

Low-Hanging Fruit: easily achieved business tasks and opportunities

Make Hay: being productive or successful in a short period of time

Move the Needle: a move that generates a reaction

Open the Kimono: revealing information

Over the Wall: to send something to the client

Peel the Onion: to delve into a problem one layer a time to thoroughly understand what’s causing all the trouble

Punt: to give up on an idea or make it less of a priority

Reach Out: to set up a meeting

Robust: a product or service with a virtually endless capacity to please

Scalable: a business or activity that requires little additional effort or cost for each unit of output it generates

S.W.A.T. Team: a group of ‘experts’ assembled to solve a problem or tackle an opportunity

Swim Lane: a specific responsibility within a business organisation

Synergize: two heads are better than one

Think Outside the Box: to approach a business problem in an unconventional fashion

Tiger Teams: a group of ‘experts’ in tech and IT

Vertical: a specific area of expertise

Window of Opportunity: the amount of time in which to take action

Source: Forbes