Corporate slang: 10 English terms you should know in Poland

Corporate slang – what is it?

In simple terms, corporate slang is the nomenclature used in corporations.

Admittedly, knowledge of corporate slang is neither the only nor the most important guarantee of professional success. But it’s not meaningless, either.

At worst, it allows us to better understand what both our colleagues and business partners are saying and writing. What is more, corporate slang becomes especially important when talking to people outside the organization, such as when emailing customers. Then familiarity with English business terms can make it easier for us to grasp a problem and take appropriate action more quickly.

1. Approval

Meaning: agreement, confirmation, acceptance.

Application in a business context: Approval is, for example, permission from our superior or business partner to perform a certain action or an acceptance of a presented document or proposal. So we can get approval, for example, to pay an invoice or for business expenses related to a trip, etc.

2. ASAP

Meaning: acronym of the phrase as soon as possible.

Application in a business context: Most commonly in written language, i.e. in emails, ASAP is used to emphasize that something is urgent or important. The recipient should thus prioritize the required action, since its timely execution may, for example, guarantee the smooth execution of other business processes.

3. Case

Application in a business context: the word case is used as a synonym for both an event or task we have been given or are working on. People who like American legal series probably associate case with "court case".

4. Deadline

Application in a business context: The deadline is assumed to be the final date by which a task must be completed.

5. Feedback

Meaning: comment, opinion.

Application in a business context: Feedback can be both positive and negative, although, for obvious reasons, the latter is far less desirable. Receiving feedback allows us to constantly make adjustments to the way we perform tasks, or to reassure us that what we are doing makes sense and puts as on a track to success.

6. FYI

Meaning: for your information

Usage in a business context: A phrase used mainly in written communication, such as in chat rooms or emails. FYI means that a message is mainly informational and does not require the recipient to take any specific action.

7. KPI

Meaning: an acronym for Key Performance Indicators.

Application in the business context: This almost legendary word in business environment usually means the goals (expressed numerically) that each employee or team must meet to achieve a framework for "success." For someone working in the accounting department, a KPI can mean 98% accuracy in completing invoices, for someone in marketing - 100,000 views of an ad campaign, and a supervisor – a 3% increase in profit generated by the team.

8. KYC

Meaning: from Know Your Customer

Application in the business context: KYC is laconically a collection of information about a customer, gathered to establish the customer's transactional profile and credibility. The main idea behind KYC is the prevention of financial scams, identity theft, or, another acronym, AML - Anti-Money Laundering.

9. Open space

Usage in a business context: Open Space is a term for an office area that has not been divided into smaller rooms. In practice, such an organization of the workplace is dictated by the desire to make economic use of the available space. Dozens or, at times, even hundreds of people can work in one room. Working in an open space can be conducive to integration with other people surrounding us, although it’s not without its flaws. The lack of room division or partitions comes with higher noise levels, which can sometimes make it difficult to perform tasks that require special focus.

10. Overtime (OT)

Application in business context: Overtime, is also known as crunch, especially in the gaming industry. It's the time we need to perform our job duties that goes beyond the hours set by our contract or agreement. Depending on the organization, hours spent on overtime are paid extra, or the employee can take them as additional leave. Moreover, overtime cannot exceed the limits set by the Labor Code.