Do you have enough “bandwidth” to take on some additional work? Or do you already have too many ideas to “ideate and unpack”?
Business leaders need to keep up with the latest lingo. We asked Capella business faculty leaders for their recommendations. Here are just a few of the most current business terms you should be familiar with.
These are phrases that have evolved in recent years, starting almost as slang and moving into what may (or may not) be a permanent role in business language.
- Core competency: What it is that a person or business does best.
- Internet of things: How the internet is increasingly built into everyday objects, such as a speaker, allowing them to send and receive data.
- Internet of energy: The process of upgrading electricity infrastructure through the use of hardware and software that digitize and automate processes.
- Disruptive innovation: An invention that eventually creates a new market and new demand, and which can upset and potentially replace an existing market, whether a product or a service.
- Ideate and unpack: To ideate means to come up with new ideas; to unpack means to thoroughly examine ideas, new or otherwise.
- Bleeding edge: It used to be that being “cutting edge” meant a business was at the forefront of innovation and expertise. Now, cutting isn’t enough.
- Peak stuff: While the past half-century has been fueled by consumers wanting to buy things, that may be changing. Consumers are now turning to experiences, not goods, meaning our culture may have reached “peak stuff.”
- Bandwidth: A word that used to be a specific tech term has evolved to describe whether or not someone has the time and energy to take on new projects, become part of a new team, etc.
Regardless of the business environment, slang will always be a part of it, and language will always evolve and adapt with the times. “Impact” used to be a noun only, but today it’s used as a verb, adjective, and adverb. Pay attention to the language used around you at work, and stay current with the terminology.
Learn more about Capella University’s online business degrees.