Business Jargon: Zero-sum game
Definition:
If one person has more, another has less.
Example Dialogue:
A: I hear the new software is almost complete. But does it
work? For Wall Street traders, it is a zero-sum game.
B: I agree. Each time I make money, someone else loses
exactly the same amount.
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Business Jargon:
Smoke and mirrors
Definition:
A form of deception; more style than substance.
Example Dialogue:
A: I hear the new software is almost complete. But does it
work?
B: I don’t know, but I hear that the new software is mostly
smoke and mirrors. It looks good, but it does not work
well.
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Business Jargon:
To be on a roll
Definition:
To be doing well at something.
Example Dialogue:
A: This is the fourth week in a row that I have sold the
most units.
B: You are really on a roll. How do you explain it? Is it
luck or hard work?
A: A little bit of both.
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Business Jargon:
To jump through hoops
Definition:
To do everything that is necessary to achieve a goal.
Example Dialogue:
A: He is a demanding boss. He really has me jumping
through hoops.
B: I agree that he is demanding, but he’s fair. I am sure
that he appreciates all of the things that you are
doing to make the department look good.
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Business Jargon:
To occur on his watch
Definition:
Something happens (usually bad) while a person is in
charge.
Example Dialogue:
A: I hear that we lost our most important customer.
B: Yeah, it occurred on Joe’s watch. He should have
paid more attention.
A: That’s really bad for Joe considering it was his responsibility.
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Business Jargon:
To hold one's feet to the fire
Definition:
To put pressure on someone to perform.
Example Dialogue:
A: We’ve got a real problem. Our supplier hasn’t delivered
the product.
B: OK. Call him up, and hold his feet to the fire. I want you
to call him every day until the product arrives, and if you
have to, tell him that we may have to look elsewhere if he
can’t deliver.
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Business Jargon:
To bring to the table
Definition:
The skills or benefits that something or someone offers.
Example Dialogue:
A: Based on talking to him on the phone, I don’t think that
he brings very much to the table.
B: I understand why you have that impression, but he
actually brings quite a bit to the table. He is brilliant at
developing strategy and marketing plans. It is just hard to
tell when you first meet him.
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Business Jargon:
To sandbag
Definition:
To provide incomplete information to gain an
advantage.
Example Dialogue:
A: Why are you so confident that you will meet your sales
quota this year?
B: I sandbagged when I provided upper management the
numbers. I gave my boss such low numbers that it will be
easy to meet my sales quota.
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Business Jargon:
To take a deep dive
Definition:
To review something in extensive detail.
Example Dialogue:
A: We’ve got a real problem. Our product quality and
customer satisfaction have slipped.
B: Yes, I agree. Please give me a copy of all the information.
I’m going to take a deep dive into the data over the
weekend so that I can figure out the problem.
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Business Jargon:
On the same wavelength
Definition:
To think alike; to be in agreement.
Example Dialogue:
A: We all need to work together on this project to complete
it on time. Are we on the same wavelength here?
B: Yes, absolutely. We all understand, and we all agree on
what needs to be done.
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Business Jargon:
Power lunch
Definition:
A lunch where an important business deal is discussed.
Example Dialogue:
A: I’m headed out to a power lunch with the CEO of our
supplier.
B: Do you think that you will be able to negotiate a deal?
A: That’s the plan. Wish me luck.
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Business Jargon:
To be a jungle out there
Definition:
A difficult or highly competitive environment.
Example Dialogue:
A: We just launched our new product in Europe.
B: How are we doing?
A: It’s a jungle out there. We have so many competitors
that I don’t know whether we’ll be successful.
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Business Jargon:
To need it yesterday
Definition:
To need something urgently.
Example Dialogue:
A: Our customer is waiting for the shipment.
B: I didn’t know that. When do they need it?
A: They need it yesterday. They cannot proceed until
they receive the shipment.
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Business Jargon:
A cakewalk
Definition:
Something that is easy to accomplish.
Example Dialogue:
A: Will it be difficult to convince the CEO to approve our
project?
B: No, I'm convinced that this is going to be a cakewalk. I
know that the CEO already wants to undertake the
project.
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Business Jargon:
To bootstrap
Definition:
To develop by yourself without support from others.
Example Dialogue:
A: Are you planning on raising money from outside
investors to launch your business?
B: No, we're planning on bootstrapping our business. We
want to achieve success on our own terms.
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Business Jargon:
On a going forward basis
Definition:
In the future.
Example Dialogue:
A: We made some mistakes with this customer.
B: Yes, but on a going forward basis, I am sure that we can
do much better.
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Business Jargon:
To tank
Definition:
To fail; to not proceed.
Example Dialogue:
A: What happened to that deal you were working on?
Were you ultimately successful?
B: No, we couldn’t agree on price so the deal tanked.
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Business Jargon:
Eat what you kill
Definition:
A program in which the individual benefits more than the
team from bringing in new business.
Example Dialogue:
A: I implemented a new sales incentive system.
Only the
salespeople who close sales will get paid this year.
B: It sounds like you are taking an eat what you kill approach.
A: That’s right.
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Business Jargon:
Win-win
Definition:
An outcome where both parties benefit from a
transaction.
Example Dialogue:
A: We agreed to pay our supplier a larger commission in
exchange for better service.
B: So it was a win-win outcome for both of you.
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Business Jargon:
The perfect storm
Definition:
A situation when multiple things go wrong all at once.
Example Dialogue:
A: Sales are way down this month.
B: I know. It seems to have been the perfect storm.
Not only did
our factory fail to meet its production quota, but three of our
key customers switched to our competitor.
A: And to top it off, we also had to fire our Vice President of
Sales because he was caught stealing. I hope that next month
is better. This month was certainly a perfect storm.
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Business Jargon:
Growth rate
Definition:
The increase in something over a period of time.
Example Dialogue:
A: We sold 1,000 cars last year.
B: And this year we hope to sell 1,100 cars.
A: Yes, our growth rate will be 10%.
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Business Jargon:
M&A
Definition:
Quick way to say "mergers and acquisitions," when
two companies combine.
Example Dialogue:
A: Last year, we purchased another company.
B: Does your company do a lot of M&A?
A: Yes, on average, we acquire four or five companies per
year.
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Business Jargon:
Marketing plan
Definition:
A plan for promoting, selling, and distributing a
product or service.
Example Dialogue:
A: We are trying to decide how best to sell the new bicycle.
B: Oh! You’re working on a marketing plan.
A: Yes, with a good marketing plan, we will sell a lot of
bicycles.
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Business Jargon:
Strategy
Definition:
A plan for achieving advantages over your competitors.
Example Dialogue:
A: What is your company’s strategy?
B: We sell the highest quality products.
company’s strategy?
A: We have the lowest priced products.
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What is your