Tuesday, January 15, 2019

Buzzwords in Business


Do you feel from time to time that you have been way outdated or being weeded out in the field of your work or business? Feeling dull, malfunctioning, and tragically unhip like a caveman. Nobody would be thrilled to die out in their realms. Let us go over some buzzwords that have often been used in the business world.



1.   to drink the kool-aid: completely buy into an idea or system, whether good or bad / to embrace a particular philosophy or perspective without a doubt

2.   millenials: “millennials” is not a new word or concept, but has become a buzzword today, because “millennials will make up more than one in three of your workforce by 2020 and by 2025 they’ll reach 75%. It’s safe to say millennials will be who you’ll employ, groom, develop, retain and rely on to do business. But that’s not the only place you’ll be dealing with millennials. From a consumer perspective, millennials spend close to $600 billion a year. That essentially means your products and services will heavily rely on the business of millennials.” (Paul Keijzer)

3.   IoT: IoT stands for Internet of Things, which literally means physical objects with internet capabilities such as smart watches, smart cars, smart homes etc.

4.   Agile talent: According to Harvard Business Review, “a new generation of worker that is a freelancer on the one hand– so not connected to one single organization as a permanent employee– but at the same time, the work that this freelancer is doing– we call agile talent– is strategic work as opposed to administrative or operational work or temporary work replacing a full-time permanent employee.”

5.   Disruptive Innovation:  “disruptive innovation” is a new idea (which is different from the existing approach or attitude of corporate development) that creates a new market or radically increases value in an existing market.

6.   ContinuousNext: The Continuous Next approach is a business strategy which is emphasized by Gartner, expounds on the importance for organizations to be more adaptive to change. Digital business transformation created a strong momentum for continuous development and the ability to adjust technology to deliver the best possible business intelligence value. (source from DataPine)

7.   Digital Citizen: a person who develops the skills and knowledge to effectively use the Internet and other digital technology, especially in order to participate responsibly in social and civic activities: We're teaching students how to become good digital citizens.




Now let us practice using the above buzz words in actual sentences!
    

     1.   As a user of various online sites, such as the Web, apps, social networking pages, and other online collaboration forums, you should learn proper manners and etiquette to become a safe and polite “_______________________ citizen” of different communities.

     2.   Today’s volatile world requires employees to fit into constantly adapting, agile project teams. In other words, you need to have the _______________________________ for the changing framework designed to support agile working and digital collaboration.

     3.   Coach Bill has made all his team players to drink the ________________________, but some players were against the idea of accepting what they are told to do with no doubt.

     4.   In order to create perpetual innovation, integration and delivery, we are supposed to foresee the next evolutionary phase of what the research firm calls digital transformation. In other words, we need to take a continuously changing and developing attitude and approach called _______________________ way of thinking.

     5.   Lots of Youtubers are focusing on young consumers, especially the ______________________, who spend close to $600 billion a year.

     6.   Living in the world that’s filled with ___________ gadgets and gizmos sometimes makes me feel like a human trapped in a huge intricate machine controlled by AI.

     7.   Quite a few people argue that _____________________ innovation in our industry will soon completely replace the jobs currently occupied by human labor.





Answer Keys
    1.   Digital
    2.   Agile Talent
    3.   Kool-aid
    4.   ContinuousNext
    5.   millennials
    6.   IoT
    7.   disruptive



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