Definition of Optionality

The ability for a company to choose among multiple options for a given business decision. More optionality implies that the company has many available options for a business decision. Optionality potentially includes the ability to reverse a choice, and make a different choice among the available options for that business decision.

Example: The manager wanted to reduce risk for the company, and was focused on increasing optionality for markets the company could enter.

Variations: alternatives

Usage of "Optionality" by Country

Business English is used in many different countries around the world. Some of the words and phrases listed on this site will be understood everywhere Business English is used, but some words and phrases are only used in specific countries. The map below shows where "Optionality" is most commonly used.

Word Usage Map

Learn More About "Optionality"

"Optionality" is in the top 30% most popular words looked up on this site.

"Optionality" is used in the workplace during meetings or emails.

The definition for "Optionality" was last updated in 2023.

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Business English Quiz

Question: What does "Calendar Invite" mean?

   (A) When a person wants to meet with you next week.
   (B) An email sent to schedule a meeting with the option to either accept or decline the meeting at the scheduled time.
   (C) When a person has available time on their calendar to meet with you.
   (D) When a person does not have any time to meet with you.

Answer: Find out the right answer here.

About This Site

Jargonism is a Business English dictionary. You can learn about words and phrases that are commonly used in the workplace like Circle Back, Thought Leader, and Offsite. We also have a Word of the Day, which is a daily Business English vocabulary word that is commonly used in the workplace.

On this site, we also have templates on how to communicate effectively at work, such as requesting PTO, declining a promotion, and taking a sick day.

Word of the Day

Date: 04/18/2024

Word: Close It Out

Definition: To mark something as completed.

Example: This task has been fixed, so let's close it out within the task tracker.

Cite This Page

"Optionality." Dictionary, Accessed 04/18/2024.