New Era Business Jargons

You will get a new job. You can choose the automotive, retail, tourism or textile industry. Although the sectors are different, there is a common language that they all speak. In the first step, it is necessary to be prepared for the different terms of this language. As a result, those who have mastered the "jargon" of the business world get one step ahead of the competition. Those who try to learn in the process are late. For this reason, I have researched "business jargons" that are frequently used in the business world and HR literature for you.

360-Degree Feedback: An evaluation approach that allows all parties with whom they have a business relationship, such as their manager, subordinates, colleagues, customers, to express their opinions on the employee's competencies.

Absenteeism: In terms of Human Resources Management, a performance indicator that aims to measure the periods of absenteeism due to absenteeism, being late or taking long breaks.

Activity: To carry out the works with the most efficient use of resources possible.

Added Value: The additional benefit that an approach or activity brings about.

Basic Wage: The amount that is previously guaranteed to be paid to an employee for work done.

Benchmark: The reference point that forms the basis for measuring performance.

Bonus: The part included in the wage package, which is paid in addition to the monthly base wage at certain time intervals, and is generally calculated by using the monthly base salary amount as a multiplier.

Budget: Systematic planning tool that aims to estimate the planned expenditures and expected revenues in a fiscal year.

Career: The direction and development of a person's work life.

CEO (Chief Executive Officer): In terms of authority and responsibilities of an organization, the top manager who is at the highest level and bears managerial responsibility.

CFO (Chief Financial Officer): The manager of an organization at the highest level in terms of financial management.

Coaching: Planned activity that aims to develop one person's guidance, motivation, training and guidance methods for another.

Competence: The behavioral expression of knowledge, skills and attitudes that ensure high performance in employees.

Corporate Governance: The whole of managerial approaches and processes aimed at ensuring that the expectations of the shareholders and other beneficial stakeholders of an institution are met.

CSR (Corporate Social Responsibility): In addition to the financial responsibilities of organizations, undertaking a voluntary role in creating a better society.

CV (CV-Curriculum Vitae): A person's; Summary document prepared to reveal its achievements, goals, individual and professional background and professional achievements.

Delegation: The transfer of responsibility and authority to do a certain job and / or make a decision to another person.

Downsizing: Reducing the number of employees and / or organizational units.

Empowerment: A management approach that encourages employees to take initiative and delegates authority in areas such as improving activities, reducing costs, increasing quality and customer satisfaction.

EQ (Emstional Intelligence Quotient): It is an abstract and simplified unit of measure used to express a person's ability in areas such as perception, evaluation, and influence.

Hierarchy: The stratification made in accordance with the authority and management relationship between the titles in an organization.

Human Resources Management: The whole of the short and long term basic policies, strategies, goals, processes and activities of an organization regarding the management of its employees.

Interview: A formal interview between two people or groups for information and evaluation.

IQ (Intelligence Quotient): An abstract and simplified unit of measure used to express the level of an individual's intelligence.

JIT (Just In Time): An approach that targets stockless and timely production and delivery within the framework of a regular work flow.

Kaizen: A Japanese term for continuous improvement in an organization.

Launching: The set of activities within the framework of the process of launching a product or service for the first time.

Leader: A person who leads, directs, inspires or follows the members of the organization in which he / she is involved.

Mission: A statement that defines the reason for an organization's existence.

Motivation: The need or desire that enables the person to act on any issue.

Objective: The concrete expression of the desired outputs and results in the relevant fields.

Occupational Safety: The field of activity that ensures the protection of people and other resources in the working environment against various risks.

Organization: A formal structure where people come together to achieve common goals and operate in a systematic cooperation.

Organizational Memory: The written or unwritten knowledge and experience of an organization.

Orientation: The whole of the planned activities and practices carried out in order to accelerate the adaptation of the person to the policies, organization, processes and works in all kinds of new assignments.

Outsourcing: An agreement that an organization makes with a supplier to perform a certain function (s).

Performance-Based Compensation: Using the performance of the company, teams or individuals as a variable in calculating the remuneration.

Performance Management: The set of activities and processes carried out in order to plan, monitor, evaluate and continuously improve the success of an organization and its individuals in achieving predetermined goals and objectives.

Planning: The process of determining detailed policies, goals, strategies and / or activities in order to anticipate opportunities and threats that may arise in the future, to investigate their possible effects and to move in the desired direction.

Presenteeism: The term that refers to the periods during which employees come to work but cannot show efficiency due to illness-like reasons.

Premium: To an employee; Batch and variable payment made according to the result of reaching predetermined person, team or company goals and in addition to the base fee.

Process Management: Planning and implementing activities to achieve the highest level of performance in processes, identify opportunities and improve the process by helping to increase quality, operational performance and consequently customer satisfaction.

Productivity: The amount of output produced in return for the use of unit resources (capital, machinery, people, technology, etc.) in the production of a product or service.

Quality Circle: A small working group that regularly meets and operates within the framework of a defined methodology in order to improve the quality of the process they are involved in or to eliminate the problems experienced.

Roadshow: A set of promotional activities that are heavily utilized especially during public offering activities.

Rotation: Recruitment practices that envisage the backing up of certain people and the preparation of employees for different tasks by obtaining different knowledge, skills and experiences in order to guarantee the permanence of their performance.

Synergy: By means of the different parties acting together, the holistic effect is greater than the sum of the effect created individually.

Six Sigma: A management philosophy and methodology that uses statistical data and analysis to plan, evaluate and improve a company's operational performance, practices, processes and systems.

Strategy: The way, method and approaches used to achieve goals and objectives.

Team: A group of employees organized to achieve a specific goal.

Title Page: An explanatory letter placed in front of a submitted document.

Total Quality: A management philosophy based on effective leadership and long-term approaches, by managing all resources in the most effective way, to continuously improve all processes and approaches and to achieve better business results by increasing the satisfaction of all stakeholders.

Variable Fee: The part of the wage package that is not guaranteed to be paid under all conditions and is paid depending on the realization of certain conditions.

Vision: A statement that defines what an organization wants to be.

Work and Life Balance: The basic approach that anticipates that the balance established between business life and private life is important for the benefit of all parties such as organization, employee and society.