Entering the world of business whether it be through undergraduate and post graduate degrees or the corporate companies opens you up to a whole new dictionary of business Buzzwords that becomes part of your vocabulary that you use to communicate to your co-workers or aspirants. It becomes a whole new language that you and your co-workers use to communicate, and you’ll find yourselves using these jargons, buzzword and idioms in real life situations while you sit together with them for lunch or at a bar or just anywhere you gather around together and the ‘gentiles’ of the business world may not understand this language.
I found myself as well as my friends using some of those buzzwords and idioms that over the period of my business education without even realizing how much I’ve used ROI when analysing my education expenses, placement opportunities and even my day to expenses. I ask questions like “Does this Loyalty membership card I am purchasing now give me benefits over cost? “what is the salary I should be willing to accept so that I get an ROI within a year?”, “Does this new course I am taking provide me with enough KSA’s that can turn my investment into benefits for my company?” The best part is that my co-workers or classmates totally get what I am talking about and can do similar analysis to help each other out.
Effectiveness and efficiency -Weather it be finance, marketing, HR or the operations domain, are the two terms discussed and employed throughout in the world of business because ultimately it is all about maximizing profits and shareholders wealth. And a creative blend of effectiveness and efficiency is the way to go.
Big Data and analytics, AI, Automation and mixed reality are the future of business and the world. If you and your co-workers or fellow business aspirates are not using these buzzwords and working towards finding a place for yourselves in these areas or employing them in your respective domains, you are yet to adopt and adapt to the agile world of business and need to get onto this train of thought sooner than later in order to stay relevant.