Tuesday, March 07, 2006

New Business Phrases for Today

Seventeen years in business and I still run into new terminology. Two new ones just today:

"Woffy" - Verbal expression of the acronym WFOE, or Wholly Foreign Owned Entity. Usually refers to a business entity in China set up by a non-Chinese company (there are three different types of organizations a foreign company can set up in China, but that is a topic for another time).

Velcro Organization - An organization that pulls itself apart and reassembles itself in order to respond to new opportunities.

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