Keeping Up with New Terminology

Is it more challenging to read a Shakespeare play in old English or a Tweet? For me it’s a tossup.

We’ve all heard about some new words that made it big last year, including “selfie” (Oxford’s Dictionary word of the year) and twerk. There were more than 500 words, phrases, and senses added in 2013.

Here are some new business-related words that you may come across now. Knowing their meaning can help you in business.

  • Bitcoin—a digital currency. The National Taxpayer Advocate advised the IRS to create guidance on what the use of a bitcoin means for taxation.
  • BYOD—“bring your own device,” which is the practice of allowing employees to use their own smartphones, tablets, etc. Should you allow BYOD? Depends on your security concerns.
  • Click and collect—customers buy online and pick up their items at local brick-and-mortar stores.
  • Emoji—a digital icon or image used to express an emotion (the derivation of the word is Japanese).
  • Onshoring (or re-shoring)—the opposition of offshoring. It’s a growing phenomenon of manufacturers that are now finding it more cost effective to make things within the U.S. (because of reduced energy costs, savings on shipping costs, and the continuing equalization of labor costs between domestic and foreign employees).
  • Phablet—a smartphone that has a screen sized between a typical smartphone and a tablet computer.
  • TL;DR—“too long, don’t read,” which is used to introduce a summary of a lengthy post or a dismissive response to a lengthy post.
  • Unlike—withdrawing approval or “like” of a site, person, or other posting, on social media. Facebook now allows this; find instructions here.

Other new words can be found from the American Heritage Dictionary and the Oxford Dictionary.

Please share new words you come across.

Open
Close

Big Ideas for Small Business®
Find it for free on the App Store.
Get