Business terminology

mind your own business

Individualistic

A culture that emphasizes personal independence, individual goals, and self

Collectivist

A culture that values group harmony, loyalty, and collective well

High uncertainty avoidance

Societies that feel uncomfortable with ambiguity and rely on strict rules, structure, and planning to reduce uncertainty.

Low uncertainty avoidance

Societies that are more comfortable with ambiguity, change, and risk

High power distance

Cultures that accept hierarchical order and clear inequalities in power as normal.

Low power distance

Cultures that value equality, shared decision

Low masculinity dimension

Cultures that emphasize quality of life, cooperation, modesty, and caring for others (also known as feminine cultures).

High masculinity dimension

Cultures that value competitiveness, achievement, material success, and clear gender roles.

Long-term orientation

A cultural focus on future rewards, perseverance, and adapting traditions to modern contexts. Common in East Asian cultures.

Short-term orientation

A cultural focus on immediate results, traditions, and social obligations. Common in Western cultures.

Compromise

A way of resolving conflict where each side gives up something to reach an agreement.

Confrontation

Directly addressing disagreement or conflict, often openly and assertively.

Connections

Social or professional relationships that can be used for mutual support or advantage.

Eye contact

Looking directly into someone's eyes; culturally it can indicate confidence, attention, or respect, but may also be seen as rude in some cultures.

Glocalization

A combination of globalization and localization—adapting global products or ideas to fit local cultures and preferences.

Improvise

To create or perform something spontaneously, without prior preparation.

Interrupt

To stop someone from speaking by suddenly starting to talk.

Intuition

The ability to understand something instinctively, without conscious reasoning.

Logic

A systematic way of reasoning based on facts, evidence, and clear principles.

Lose face

To lose respect or social standing in front of others (important in many Asian cultures).

Status

A person’s social or professional position relative to others.

Expatriate (Expat)

A person living or working temporarily in a country other than their own, often for work assignments.

Repatriate

A person returning to their home country after living abroad.

Repatriation package

A set of benefits offered to help employees return home after an international assignment (e.g., relocation support, flights, financial help).

Relocation package

Benefits offered to employees to support moving to a new country or city for work (e.g., moving costs, housing, travel).

Health insurance

Coverage that pays for medical expenses. Often included in expat or relocation benefits.

Expatriate financial package

A compensation package including base salary, allowances (housing, travel, hardship), and benefits tailored for international assignments.

Reimbursement

The act of repaying someone for money they have spent on behalf of the company.

Stakeholder

Any individual or group with an interest in an organization’s decisions or outcomes (e.g., employees, customers, investors).

Prospects

Potential clients, customers, or opportunities for future business.

Orientation

An introductory program or session for newcomers to learn about an organization, role, or culture.

Proficient

Highly skilled or competent in a particular task or subject.

Groom somebody

To prepare or train someone for a specific role or future responsibilities.

Competencies

A set of knowledge, skills, and abilities required to perform a job effectively.

Acumen

The ability to make good judgments and quick decisions, especially in business (e.g., 'business acumen').

Passion

Strong enthusiasm or deep interest in something.

Inadequate

Not sufficient or good enough; lacking the quality or quantity required.

360

degree feedback

Agenda

A list of topics or activities to be discussed or done in a meeting.

AOB (Any Other Business)

A meeting agenda item for additional topics that were not included in the main agenda.

Apologies

In business meetings, a formal note indicating someone cannot attend (e.g., 'Apologies from John').

Programme specifications

A detailed description of a program or course, including objectives, content, structure, and assessment methods.

Understaffing

"A situation where there are not enough employees to handle the required workload.

This often leads to stress, lower productivity, longer working hours, and decreased service quality."

Overstaffing

"A situation where there are more employees than needed for the available work.

This can result in wasted resources, higher labor costs, and reduced efficiency."

Job specification

A written statement that lists the qualifications, skills, education, experience, and personal characteristics required to perform a specific job.

Referral

The recommendation or direction of someone to a person, organization, or service — often to help fill a job vacancy or receive assistance.

On

the

Remedial education

Instruction designed to help individuals improve basic skills—such as reading, writing, or mathematics—that they may not have fully mastered earlier.

Promotion

a move to a more important job or rank in a company or an organization

Reassignment

the act of giving somebody a different duty, position or responsibility

Termination

an act of getting rid of a worker

Layoff

an act of making people unemployed because there is no more work left for them to do

Outplacement aids

Services and support provided by an organization to employees who are leaving, usually due to layoffs or restructuring, to help them find new jobs.

Employment at will

A legal doctrine stating that an employer can terminate an employee at any time, for any reason (except illegal ones), without prior notice, and likewise, an employee can resign at any time without reason or notice.

implied contract

An agreement that is not written or formally stated, but is inferred from the actions, behavior, or circumstances of the parties involved.

worker buyout

When companies encourage employees to leave earlier than planned by offering financial incentives.

Wage

Payments made to employees based on the number of hours worked or units produced, usually calculated on an hourly, daily, or weekly basis.

Salary

A fixed regular payment made to employees, usually expressed as an annual amount, and paid on a monthly or biweekly basis, regardless of hours worked.

Severance package

A set of pay and benefits provided to an employee when they leave a company, typically due to layoffs, downsizing, or mutual agreement.

Insurance

A system that protects people or companies from financial loss. You pay a regular fee (called a premium), and the insurance company helps cover costs if something bad happens.

Unemployment insurance

Money paid by the government to people who lose their jobs through no fault of their own.

Employee stock ownership plans (ESOPs)

A benefit program that gives employees company shares, making them part

Accountability

"Being responsible for your actions, decisions, and results, and accepting the consequences if things go wrong.

In the workplace, accountability means doing your job properly and being answerable to managers or team members."

chain of command

The line of authority from one level of employees to the next.

Delegation of authority

The process of giving responsibility and decision

Span of management

"Span of management (or span of control) refers to the number of subordinates

a manager can directly supervise."

Tall Organization

"A highly centralized structure with many hierarchical levels and a narrow span of

management at each level."

Flat Organization

A decentralized structure with few levels of hierarchy and a wide span of management.

Line Organization

A clear line of authority flowing from the top downward

Functional Organization

Employees are grouped according to their job functions or areas of expertise (e.g., production, marketing, finance)

Line-and-staff Organization

A type of organizational structure that combines:
- Line authority → the direct chain of command (e.g., managers giving orders to subordinates);
- Staff authority → specialized experts who advise and support line managers.

Line authority → the direct chain of command (e.g., managers giving orders to subordinates);

Staff authority → specialized experts who advise and support line managers."

Project Management

A temporary shift from the permanent hierarchy, with teams disbanding after task completion

Matrix Organization

"A type of organizational structure where employees report to two bosses:

One from the functional department (e.g., Marketing, Finance), and

One from the project or product team."

Intrapreneurship

When an employee behaves like an entrepreneur inside a company — developing new ideas, products, or processes to help the organization grow.

Corporate staff

A group of specialized experts or support personnel at the headquarters level who advise, plan, and support top management and line departments.

Grapevines

The informal communication network within an organization — where information spreads unofficially through conversations, rumors, or personal contacts.

Office politics

The use of power, influence, or personal relationships within a workplace to gain advantages or achieve personal goals, sometimes outside formal rules.

Mentors

Experienced member of an organization who serves as a guide and protector to a younger, lower

Corporate culture

The shared values, beliefs, attitudes, and behaviors that shape how people work and interact in an organization.

Macho / Tough

Guy Culture

Work

Hard / Play

“Bet-Your-Company” Culture

A culture that involves high risk but slow feedback. Decisions are big and long-term, and the results may take years to show.

Process Culture

A culture that involves low risk and slow feedback. The focus is on rules, procedures, and accuracy rather than quick results.