- (business) To establish a baseline of mutual understanding
- "Before we start the negotiation, let's level set until we all agree on a starting point."
- (business) An event consisting of level setting
- (business) A state of mutual understanding among parties
- "We need to have a level set before we can go on, just so we're all on the same page."
- (mutual understanding): agreement
This concept is sometime used during major transitions in a business, to make sure all parties agree on a starting position, and so that their subsequent actions are coordinated.
Not to be confused with the mathematical term of the same spelling: level set.