Common Corporate Buzzwords (With Definitions of Each)
By Indeed Editorial Team
Updated November 5, 2022 | Published September 29, 2021
Updated November 5, 2022
Published September 29, 2021
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
Professionals develop corporate buzzwords to simplify the communication of particular business concepts or tactics. These buzzwords vary by industry and range from widely understood to more complex terms specific to a profession. Whether you're looking for a new job or already have one, it helps to understand these business terms to prepare and advance your career path. In this article, we explore what buzzwords are, discuss why they're essential, and list common buzzwords along with their definitions.
What are corporate buzzwords?
Businesses or corporations use buzzwords to characterize their philosophy or culture, as well as to increase team morale and customer engagement. These terms are present in marketing campaigns, internal meetings, or memos describing tasks or goals, and can be how coworkers speak to each other. Buzzwords reflect trends, and their meaning or impact may change over time.
Why are buzzwords important?
Buzzwords are essential to businesses because they help simplify complicated ideas or practices into one phrase or word. This simplification makes these ideas easier to comprehend and communicate. Buzzwords can sometimes be a vital part of your organization's culture, and as a result, it's helpful to be able to use buzzwords correctly. That way, you can meet corporate expectations and engage more effectively with coworkers and customers.
Common work buzzwords and their definitions
Buzzwords typically use made-up phrases, colloquialisms, or analogies, making them challenging to comprehend when you first encounter them. Learning their meaning and context can help you use them more effectively in your workplace. Here is a list of common business buzzwords and their definitions:
In business, an ecosystem refers to an office or work environment. It includes factors such as company policies, culture, and procedures. Examining your business or company's ecosystem can help determine areas of improvement, or find instances of professional excellence.
Touchpoint is the method by which customers can engage with a particular business. For example, websites, customer service representatives, apps, and physical stores are touchpoints. Companies typically communicate with their employees to help yield positive feedback or experience when customers use touchpoints.
Return on investment
Return on investment (ROI) calculates the profitability of an investment relative to the investment's cost. It's a popular metric among businesses and investors. Typically, companies use ROI to gain more resources and establish investor confidence toward a particular project or goal.
Hyperlocal relates to issues or matters that affect a highly specific geographical area. This buzzword is usually present when developing marketing campaigns, especially with smaller businesses. There is value in targeting a particular community over a city or broader demographic for certain companies to increase customer engagement and sales.
Visibility describes the popularity of a company or product within a market. It refers specifically to sales or earnings, and can help estimate future performance. For example, a company usually discusses visibility in conference calls, press releases, or investor meetings.
Deep dive is an in-depth brainstorming session. It emphasizes detail and specificity over ambiguity. When a supervisor asks you to perform a deep dive on a project, they mean to gather as many ideas and actionable tasks as possible about that particular project.
Core competencies refer to a company's most essential skills or experience in a particular field. This buzzword can determine whether a company has a competitive advantage within a marketplace or what a company can do to raise its value. Job listings sometimes use core competencies to describe the qualifications they expect to see in job applicants.
Related: What Is a Resume Core Competencies Section (With Examples)
Next-generation refers to new products or customers coming to market. This buzzword creates excitement for customers because it typically follows the announcement of something innovative. For example, the video game industry uses the buzzword next-generation to talk about new pieces of hardware or software.
Synergy refers to the coming together of two separate elements to accomplish a unified goal. It applies to both companies and teams. For businesses, synergy occurs when there is a merger. For teams, there is synergy when every individual cooperates well and yields high-quality results.
Related: What Are the Qualities of a Good Team Player?
Ballpark in business is an approximation or estimate, usually numerical, of the value or results of something still in progress. Stockbrokers, accountants, and salespeople are the professionals that typically use this buzzword. A supervisor may state that something is in the right ballpark to communicate that the team is progressing well toward achieving a goal or completing a project.
Sustainability in business has two definitions. The first refers to a company's or project's ability to use its available resources to support itself. The second and most common definition is the impact the company has on the environment and community. For example, a company may convey its commitment to safeguarding the environment by investing in renewable energy or reducing waste.
Companies and management refer to a quick win as a sales, task, or project that is easy and fast to finish. Supervisors sometimes encourage quick wins to increase employee morale. Quick wins can also help build a project's momentum, which can garner attention from other departments and establish confidence from the executives or investors in the company.
Customer journey refers to all the interactions a customer experiences with a business. Customer-centric companies typically use this phrase to establish the importance of how workers interact with customers. For example, retail stores encourage employees to ensure customers feel good from when they enter to when they leave.
Related: Customer Service Skills: Definition and Examples
A holistic approach considers all aspects of a problem to arrive at a solution. This method aids employees in examining an issue more thoroughly to understand it. Holistic marketing is also a practical approach to encourage workers to implement ideas or make marketing decisions to accomplish a common organizational goal.
Pain points are concerns or issues that a customer or company may be experiencing. For example, a pain point in a retail store can be a decrease in sales or customer retention. Pain points are vital for you to understand because they can help you emphasize specific areas of improvement.
In business, quota refers to a goal that employees need to achieve in a certain amount of time. For example, companies can set weekly, monthly, or yearly sales quotas based on revenue. Quotas can also refer to the number of professionals a company wants to hire within a specific timeframe.
Freemium is a business model that offers standard features for free and charges a premium for additional features. These extra features typically include more advanced tools or services. A freemium model aims to attract customers into the business and build a relationship that can lead customers to pursue premium content. This model is present in various industries, from streaming services to professional consulting to business management software.
Startups are companies in the first stages of operations. They result from a project by one or more entrepreneurs aiming to fill a particular demand within a market. Startups typically focus on a single service or product to increase growth and have limited revenue, which is why they search for investors.
Impact in business refers to the impression a company makes on its customers and employees. It's a way to determine, measure, and review what the company is doing and how it functions. Businesses typically emphasize "impact" to incentivize their employees to consider what they can do to improve and yield more beneficial results.
Bandwidth refers to the time or energy an employee has to devote to a task or project. When you use this buzzword, you consider your ability and availability to take on additional assignments. Supervisors or senior managers often use this buzzword to encourage their employees to invest more time to complete a project.
Incentivization means motivating employees to produce quality work and add more value to the company. Customer-centric companies incentivize their customers to increase sales and customer retention. For example, retail businesses may offer a buy one item and receive the other at 50 per cent off, or spend more than a certain amount to receive a discount.
Content is king
Marketers and advertisers use this buzzword to emphasize the importance of producing helpful and captivating content. This content can range from writing to visuals such as a video or photography. Companies that prioritize blog content use "content is king" to increase their employees' work output and foster a positive and recurring relationship with their customers.
Disruptive is a buzzword that describes a business practice or product that aims to change the standard. Most times, startups are disruptors because, through innovation, they may present a more efficient method to achieve a goal. Examples of disruptive innovations are online education, smartphones, and personal computers.
Big data is when marketers or analysts collect a vast amount of information about a specific product or business. Through this collection of complex data, employees can understand the information more easily. It's a practical means of analyzing customer patterns and markets to review business practices and design a course of action.
Now that you're aware of these common corporate buzzwords and their definitions, you can use these business terms to prepare and advance your career path.
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