ELI5: Explain Like I'm 5

Semantics of Business Vocabulary and Business Rules

Business vocabulary and business rules are words and rules that describe how businesses operate and what services they offer.

Business vocabulary includes all the words used to talk about businesses, their products, and services, like "bookkeeping" or "finance". Business rules describe how a business makes decisions or how they interact with customers, like " refunds only within 30 days" or "payment must be made in full before product is released".

Together, these help businesses communicate clearly with customers, employees, and other businesses, as well as help them to decide what to do in different situations. They help to make businesses run smoothly and efficiently.