Terminology

A

Attrition

The gradual loss of employees or customers over time

B

Bandwidth

The capacity a person or team has to take on additional work

Benchmarking

Comparing business processes and performance metrics to industry bests or best practices

Bottom Line

The final total on a financial statement, often used to refer to net profit or overall outcome

C

Churn

The rate at which customers stop doing business with a company over a given period

Compliance

Adherence to laws, regulations, and internal policies relevant to a business

D

Deliverable

A tangible or intangible output produced as a result of a project or task

Due Diligence

A thorough investigation or review conducted before entering into an agreement or transaction

E

Escalation

The process of raising an issue to a higher level of authority for resolution

O

Onboarding

The process of integrating a new employee into an organization and its culture

Overhead

The ongoing costs of running a business that are not directly tied to producing a product or service

P

Pipeline

The set of potential sales, deals, or projects at various stages of progress

Procurement

The process of obtaining goods or services, typically for business purposes

Q

Quorum

The minimum number of members required to be present for a meeting's decisions to be valid

R

Runway

The amount of time a company can continue operating before it runs out of money

S

Scalability

The ability of a business or system to grow and handle increased demand

Stakeholder

A person or group with an interest in the outcome of a project or organization

Synergy

The combined effect of people or teams working together that exceeds what they could achieve separately

T

Touchpoint

Any point of contact or interaction between a customer and a business

V

Value Proposition

The unique benefit a product or service offers that makes it appealing to customers