Whether you’re just gearing up for business school or you’ve been in
your industry for a long time, it’s a good idea to be familiar with what
certain business terms mean. Here are 10 words and abbreviations every
businessperson needs to know.
ROI: return on investment.
When push comes to shove, we’ll prioritize the project with the highest ROI.
USP: unique selling position.
The marketing team worked hard to develop the company’s USP so that the sales team would have more to work with.
Forecast: to use data you’ve gathered to predict future trends.
Based on our sales numbers from last year, we can forecast and set our budgets for the third and fourth quarters.
Balance sheet: a summary of the company’s accounts including assets, liabilities, and equity.
Let’s take a look at the balance sheet again before Thursday’s investor meeting.
Brand: a company’s logo, tagline, or other distinguishing identifier that sets them apart in the marketplace.
In today’s meeting, we’ll decide on which colors to use for our brand.
Minutes: notes from a meeting, including what was said and what actions will be taken next.
Please review the meeting minutes from last week before joining the conference call.
Stakeholder: any individual or group who has a stake (interest) in the company or project.
I emailed the relevant stakeholders to get their feedback on our new marketing initiative.
B2B and B2C: business-to-business and business-to-consumer.
As a B2B company, we only spend a small portion of our budget on widespread advertising.
EOD: end of day.
I’ll have that report in your inbox by EOD.
Performance or annual review: An evaluation and assessment of an employee’s contributions to the company.
During her annual review, she was offered a promotion and a bonus.
Which words would you add to this list?
By Kimberly Joki.grammarly.com
ROI: return on investment.
When push comes to shove, we’ll prioritize the project with the highest ROI.
USP: unique selling position.
The marketing team worked hard to develop the company’s USP so that the sales team would have more to work with.
Forecast: to use data you’ve gathered to predict future trends.
Based on our sales numbers from last year, we can forecast and set our budgets for the third and fourth quarters.
Balance sheet: a summary of the company’s accounts including assets, liabilities, and equity.
Let’s take a look at the balance sheet again before Thursday’s investor meeting.
Brand: a company’s logo, tagline, or other distinguishing identifier that sets them apart in the marketplace.
In today’s meeting, we’ll decide on which colors to use for our brand.
Minutes: notes from a meeting, including what was said and what actions will be taken next.
Please review the meeting minutes from last week before joining the conference call.
Stakeholder: any individual or group who has a stake (interest) in the company or project.
I emailed the relevant stakeholders to get their feedback on our new marketing initiative.
B2B and B2C: business-to-business and business-to-consumer.
As a B2B company, we only spend a small portion of our budget on widespread advertising.
EOD: end of day.
I’ll have that report in your inbox by EOD.
Performance or annual review: An evaluation and assessment of an employee’s contributions to the company.
During her annual review, she was offered a promotion and a bonus.
Which words would you add to this list?
By Kimberly Joki.grammarly.com
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