6 Buzzwords You’ll Be Hearing of in the Business World in 2017
There have been plenty of buzzwords in the business and corporate world that have become commonly used in our conservations. They’re so widely integrated into our dialogue that we can’t construct a sentence without using these buzzwords. What are these buzzwords that I speak of? Here are a few that have integrated into our corporate conservations in the past 5 years:
- End of Day
- Cascade Down
- Deep Dive
- Drill Down
- Low-Hanging Fruit
- Paradigm Shift
- Think Outside the Box
I’m sure you’re using most of these buzzwords on a daily basis without even realizing that they’re relatively new to the corporate world. However, aside from these, new buzzwords are fast gaining acceptance and usability in our common vernacular. Here’s a look at some of the trendier buzzwords you can expect to hear and use in 2017:
‘Amplify’ is a simple enough word which means exactly what it sounds like and how it gets used – improve or increase. So why is it a buzzword? Probably because it sounds cooler than saying ‘improve’. Or it could be because when talking about ‘increasing’ market share, sales or even market presence in the boardroom, the use of the word ‘increase’ just doesn’t seem to be enough in the 2010’s. ‘Amplify’ has an ‘oomph’ about it that is volumes more. It basically spells out an exponential increase.
2. Push Tolerance
This term is an amalgamation of two phrases: ‘pushback’ (a negative or unfavorable response) and ‘fault tolerance’ (the ability to survive failure). Putting the two concepts together you get ‘Push Tolerance’, which basically tests the capacity of a strategy, idea or theory to survive and endure resistance. Usually the term is used when you’re testing the response or support you’ll get for a new concept or strategy. And it doesn’t necessarily have to be the response or support of employees or consumers. Push Tolerance is also a factor you’ll want to consider when seeking management approvals or endorsements on new ideas.
3. Return on Relationship (ROR)
We’re quite familiar with the term Return on Investment (ROI). Here’s a new one – ROR. Companies whose business heavily value and rely on relationship building consider this metric quite useful and important. The idea is to compare what returns you enjoy from the relationship that you’re nurturing and the loyalty that you’re trying to harvest. Basically, since you’re not ‘investing’ monetarily into a relationship, you’re gauging whether the management of the relationship is fruitful to your business.
4. Kill Chain
Kill Chain isn’t a new term as it’s been used by the US military for quite some time. Based on the “Four F’s” of attack (Find, Fix, Fight, Finish), the buzzword presents itself to the corporate and business world as a more attractive way of saying ‘strategy’. But here we’re not talking about the overall corporate or company strategy. We’re considering a more step-by-step analysis of what needs to be done to achieve a goal. So you’ll hear management meetings discussing an issue or concern and designing a ‘kill chain’ on how to resolve the matter.
Storytelling is becoming a more popular way to convey ideologies, values, and even motivate teams in the business world. Leaders are frequently using this technique to pass on their messages and it’s proved to be more impactful and well received than presentations. Storytelling helps the audience (your team) visualize better and feel the emotions behind whatever message you’re trying to have them understand.
We all know of entrepreneurs and the impact they’ve had in our companies and the world itself. Now meet intrapreneurs – the visionaries of companies whose impact is within the company and commonly for a stand-alone project. Leaders have starting using this buzzword to woo their talent into thinking and behaving like visionaries who are exemplary for others in the organization. You have to admit being called an ‘intrapreneur’ has a nice ring to it.
Buzzwords have an interesting lifecycle. Some buzzwords are created by key management people and go on to be widely used within companies. They may never see global use mainly because how closely those buzzwords are tied in to a company’s culture and ideology. But within the company itself they hold deep meaning and are used so commonly that by not using it some employees may be alienating themselves.
Then there are those buzzwords that are used by a key management figure of a global organization or even a thought leader. These, if backed by success (or even controversy) can gain wide popularity and be embraced by people the world over.
Are there any buzzwords within your company that’s popularly used and holds meaning to your company’s values? I’d love to hear about them.
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