Business A to Z

Every trade has words it uses without explaining. In business the cost of not knowing one is real: some of them are ordinary jargon and some of them are a decision that can take a house.

Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.

Studying business? We write GCSE revision songs, and there is one for business studies. Listen to the revision playlist.

14 terms filed under O, showing 1–10 (page 1 of 2).

O

Objection handling

What to do when somebody says no, or not yet.

Offboarding

Removing access when somebody leaves. Frequently incomplete.

Offer and acceptance

How a contract is formed. Usually earlier than people think.

OKR

Also called Objectives and key results

A goal-setting method: an ambitious objective with a few measurable results attached. Useful, and frequently turned into a reporting chore.

OKRs in practice

Making objectives and key results actually work in a small business.

Onboarding

Getting a new employee, or a new customer, properly started.

One-to-ones and appraisals

Regular conversations about work. Cheap, and the thing most often skipped.

Open banking

Regulated access to your bank data by other providers, with your permission.

Opening balances

The figures a new accounting period starts with. Getting them wrong breaks everything after.

Operating model

How the business is organised to deliver what it sells.

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