New Buzzwords in Business

…..”Now what does this mean???”

Just when you thought you’d heard enough jargon to choke a horse in business, here’s the new buzzwords so you can impress your boss and befuddle your colleagues, (source material courtesy of the March 27, 2006 Wall Street Journal).

• Delayering – The process of reducing organizational layers by firing the middle management
• Web 2.0 – Second generation of services available on the World Wide Web that lets people collaborate, and share information online; generally the applications “feel” more like desktop applications. Using it in your business plan is also a nifty way to get some venture dough!
• Knowledge Acquisition – Hiring people who know how to get the job done
• Unsiloing – Being able to cooperate across departments, share resources, cross-sell products and basically learn to work as a team in an organization, one department or business unit to the next.
• Execution – Used to be known as strategy, which was the endless talk of planning to do something to execute. In todays world, we skip strategy (andthinking) and just execute.
• Volume Sensitive Business – A business with massive fixed costs (and no way to cover them). Niche Strategy – Perhaps should rightly be worded, “niche execution”, it simply means your company is a small, insignificant player.
• Limited Downside – code word for “things can’t get much worse”