Eight corporate buzzwords you need to know

1. Synergy

Synergy is the concept that teamwork can yield better results than individual efforts. For example, mergers and acquisitions are often seen as more advantageous due to the concept of synergy, because the combined value of both companies is larger than their individual value.

2. Align

When used in a business context, the word “align” refers to the effort to unify all team members and departments toward shared goals. For example, a company may align its marketing strategy with its overall business goals to ensure they’re working in unison.

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3. Return on investment (ROI)

Return on investment is a metric used to evaluate the efficiency of an investment. ROI can refer to financial returns on employee training, employee benefit programs, technology upgrades, marketing campaigns, and more. For example, a business could measure the ROI of a new software by calculating how much time is saved when using the software.

4. Loop in

In business, “loop in” refers to involving someone in a discussion or process. It’s like saying, “Let’s keep this person in the loop,” which means to keep them informed or updated on a particular matter. This ensures that everyone is on the same page and helps foster collaboration in the office.

5. Dive in

To “dive in” means to investigate one issue or topic at length. It can also describe the act of starting a task or project with enthusiasm and without hesitation. This term can be used in the context of starting a new project, tackling a pile of work, or exploring a new idea. The phrase encourages a proactive approach and is often used to motivate individuals or teams at the beginning of a meeting.

6. Leveraging opportunities

In a business context, “leverage” refers to the strategic use of a resource or advantage to achieve a particular goal. This could include a personal skill, a type of technology, a team’s expertise, etc. Leveraging a resource is usually done with the intention of maximizing the potential benefits or returns from that resource.

7. Core competency

In a business setting, “core competency” refers to the unique resources, qualities, and capabilities that give a company its competitive edge. Core competencies can include anything from a specialized product design or unique service to a company’s people, physical assets, patents, brand equity, and capital. They’re important for a new business making its mark or an established company trying to stay competitive.

8. Low-hanging fruit

The idea of low-hanging fruit refers to tasks, actions, or goals that are easy to achieve with minimal effort. This phrase is commonly used in planning or strategy sessions to identify quick wins.

Start familiarizing yourself with these terms and improve your ability to communicate with your teammates.