This can help you navigate the corporate jargon used in business environments.

Business Vocabulary

An asset is anything of value that a company possesses. Assets include goods, products, documents, properties and other resources.

The board of directors is a group of individuals who set the policies that govern a company. Board members are elected by stockholders.

A company’s branding includes the name, logo, imagery, colors, typography and language that are used to distinguish it from other businesses.

A liability is a financial debt, risk or obligation. Liabilities include mortgages, outstanding loans and accrued expenses.

Logistics are the processes involved in managing and executing a complex task or project involving many people, materials, timelines and more.

A company or team’s objective outlines a goal that a business, team or individual is trying to achieve. This statement of purpose will guide your actions as you plan for future successes.

When a company gets products or services from an outside worker or supplier, it’s outsourcing. A business may outsource from another country or a different company. Anything that is not handled in-house is outsourced.

A business’s profitability is its ability to yield a certain financial gain in relation to its size and costs. This is a measurement of efficiency that helps define the company’s ability to produce a return on investment