New management terms

In recent years, many new management terms (some may call it buzzwords) have surfaced and superseded certain older terms. Like the older term USP (Unique Selling Proposition) is now superseded by Differentiation and Value Proposition. The term management is now superseded by leadership, and so on.

Are these important to business owners? Yes they are certainly important, as they often offer new perspectives of looking at things, or newer methods/processes that companies are now being run. At the end of the day, companies will be set to produce better results.

In the past, we call it… Today, we call it…
Creativity Innovation
Branding Reputation
Competition Partnership, collaboration, cooperation
Internal and external audiences Stakeholders
Corporate communication Stakeholders communication
Circulation or viewership Traffic
Web banners / Banner ads Call-to-action
Standardisation Customisation
Financial bottom line Triple bottom line
Perpetual succession Sustainability
Hierarchical or centralised organisation Flat or decentralised organisation
Human resource Human capital
Counseling or mentoring Coaching
Employee motivation Employee engagement

 

Are you also confused with certain terms? Contact Shaun Lee/a> today to clear your doubts!