Business Word of the Day

What Does “SOP” Mean? A Standard Operating Procedure (SOP) is a set of step-by-step written instructions designed to help workers carry out routine operations. SOPs ensure that tasks are completed consistently, safely, and efficiently, no matter who performs them. In simpler terms, an SOP is the “rulebook” or “manual” for how things get done within an organization.

What Does “Unique Selling Proposition” Mean? A Unique Selling Proposition is the factor that differentiates your product, service, or brand from all others in the marketplace. It’s the answer to the question every customer asks: “Why should I choose you over the competition?” A USP can be based on: Features (what your product does differently), Benefits (what outcomes your customers get), or Values (what your brand stands for).

What Does “Burnout” Mean? Burnout is a state of physical, emotional, and mental exhaustion caused by prolonged stress, overwork, or imbalance between effort and recovery. In business, it often shows up as reduced productivity, cynicism, and withdrawal from work responsibilities. In daily life, burnout can manifest as fatigue, irritability, or a sense of hopelessness, even in activities once enjoyed.

What Does “Practice” Mean? The word practice has multiple layers: General Definition: The act of doing something repeatedly to gain mastery or improvement. Business Context: A professional’s established way of working, like a law practice, medical practice, or consulting practice. Everyday Use: A routine, habit, or application of knowledge in real life.