Jargons

You can't be a MBA without Jargons and Frameworks.


Jargons First


Here is a some of the words:


1. Strategy (comes with a flavor of alignment/business/. Oh, how many times a day I hear that (even say). We keep reading and thinking of strategies by different people and companies. sometimes develop some also (at leaset we call them strategy). You have Marketing Strategy, which is different from Strategic Marketing. Put all your common sense together to run a company for long term and you can speak the wonderful word call Strategy. may it be STP, 4Ps, BCG Matrix, or Poter's Forces. It is common sense at tis best. Only thing is common sense is not common, so sometimes I really think that these Strategists are great people, not because they gave strategic frameworks, but because they could put common sense in such a structure.


2. Innovation.This is the buzzword. Every case will talk about it. I found that every company in this world has become innovative (as they say today you stop innovation, stop growth). Now, you do something different to survive in competition and you are innovative. It can be a product innovation, service innovation or process innovation.


3. Competitive Positioning. You don't hear this much, but still it is a fascinating word and you can use it to build impression on non MBA's and people who have not lived with them.

Just take an example. We were once talking that if we go to a 5 Start Hotel and do not have money, then we will be washing dishes. How to tell someone what we are doing, here it goes:


"We are involved in Quality Control and process innovation. We use a technique called the Clean Plate technique. This believes that to align your processes to your business strategy, you need to implement Quality control at the grass root level. So, actually I am involved in business strategy alignment with internal processes for achieving competitive advantage".