I’ve begun compiling a list of common business words I come across (especially buzz words) as I’m finding it quite common to interact with contacts that are not in on the language. Hopefully some of these will be of use to everyone reading the blog.

Circle back: used in the context of getting back to someone on a decision or syncing with them later when data is available.

Often used for avoidance of addressing an issue in a meeting or conversation.

End around: this is when someone cuts out the responsible party by going around them “behind their back” to achieve their desired result.

This is gamesmanship. The idea that they can get what they want regardless of the impact to the relationship with the party being removed from the equation. Often seen as sneaky or an underhanded tactic.

Boil the ocean: Used as a cautionary warning about focusing too broadly on a problem and the enormous amount of effort that may as a result be needed.

I’ve seen an offshoot of this word’s definition as now being one to beg out of an activity. This was quite amusing for me to see someone turn a warning “buzz word” from a manager into an excuse not to do work; it was definitely a unique approach to positioning one’s needs.

This will be the first of many looks at common business words and their use.

Stockholders/Shareholders: Investors who have purchased a stake in the company. Typically a major driver in company decision making via their power to elect directors to the Board of Directors.

Stakeholders: Includes Shareholders, Employees, customers, suppliers, and partners. This in effect is the entire ecosystem for a company. Often subgroups within the ecosystem will have opposing interests. When conflict arises typically Shareholders will have the upper hand due to fiduciary responsibilities.

Fiduciary duty: Is a legal or ethical relationship in which there is an obligation from one party to another to manage on behalf of and serving the best interests of another party. In this case the shareholders have an investment and if the company doesn’t manage to account for that interest they can be legally liable for it.