News You Can Use

Business Vocabulary

 
Good communication skills and a good business vocabulary are essential in today’s fast-paced business environment.

Most of us have been in a situation when we’ve failed to find the right word or proper terminology to express ourselves in a business meeting, or even an informal conversation.

This affects our job performance and the impression we make on coworkers and clients.

Here are some easy steps for improving your business vocabulary:

• Keep a list of unfamiliar words. Learn their meanings in your day to day work, and use them often. The more you learn and use, the more comfortable you’ll be, and the better impression you’ll make.
• Practice your business writing skills. This will improve your spoken vocabulary as well.
• Follow basic grammatical rules. Speak in complete sentences.
• Don’t use slang. Some may find it offensive or inappropriate.
• Avoid using company jargon or terminology with those outside the company. They may find it confusing.
• Always say “please” and “thank you.” It’s easy to forget to be polite in a busy workplace.
• Don’t use profanity or make inappropriate jokes.
• Don’t get angry and say something you’ll regret later.

How many of these business acronyms can you identify? (Answers at end)

B2B           

BHAG        

COGS                    

COLA                    

KPI            

ROI            

RONA        

SKU                      

SOHO                    

Increasing your business vocabulary can lead to success. Have any other acronyms to add to the list?

Answers from above:

B2B            (Business to Business)

BHAG         (Big Hairy Audacious Goal)

COGS        (Cost of Goods Sold)

COLA         (Cost of Living Adjustment)

KPI             (Key Performance Indicator)

ROI            (Return on Investment)

RONA        (Return on Net Assets)

SKU           (Stock Keeping Unit)

SOHO       (Small Office, Home Office)