If you were late for a meeting, then you dropped the ball
If you forgot to send an e-mail then you dropped the ball
If you stopped doing your project then you dropped the ball
If you taste ham and wheat, and a little cheese and a dab of vinaigrette, then you're probably eating a tasty sandwich, but this doesn't determine whether or not you've truly dropped the ball.

I think the phrase comes from sports
So businesspeople don't feel like dorks
By spouting terms that sound like fun
Instead of just "I failed to get that done"