Some Stick, Some Don’t
Buzzword: a word or phrase, often an item of jargon, that is fashionable at a particular time or in a particular context that sticks.
In 2013, Thulile Nxumalo compiled a list of then-hot buzzwords for our 5th edition. Five years on – apart from “cloud computing” (although these days we just talk about the cloud) – how many of the below terms do you still toss around on a regular basis?
CPC – Cost Per Click: A website that uses CPCs would bill by the number of times a visitor clicks on a banner instead of by the number of impressions. Cost per click is often used when advertisers have a set daily budget. When the advertiser’s budget is hit, the ad is removed from the rotation for the remainder of the period.
Leapfrog: Is fast becoming an African specialty, as countries make extraordinary advances in their development, often bypassing entire generations of development and making great strides in playing catch-up with their global counterparts.
Back Of The Napkin Business Model: A slang term that refers to the representation of the basic components of a business model excluding any fine details. It incorporates only the core ideas and success factors of the business. The name comes from the notion that a quick outline of a business can be easily sketched on the back of a napkin to sufficiently demonstrate its fundamental concepts. This type of business model should probably only be used as part of the initial stages of planning. A final business model should be drafted for clarity and color, including complete details on all operations as well as the short-term and long-term visions of the business.
Twinternship: Is a slang term used to describe an internship that encompasses the use of social media, such as Twitter and Facebook, to drive attention to the internship-offering company and its products. Twinternships have gained popularity as a cheap and relatively easy way to communicate a company’s brand with younger, tech-savvy consumers, while portraying the business as “hip.”
Hit the Slide: To quit in a spectacular fashion. On bad days, Chuck would steal coffee creamer from the office kitchenette and fantasize about hitting the slide. On really bad days, the plan involved burning fish and cauliflower in the microwave, pulling the fire alarm and streaking out past the vice president’s office. Ganjapreneur: Someone who smells opportunity in the medical marijuana industry. About 25,000 ganjapreneurs and their customers attended the inaugural THC Expo in downtown Los Angeles last summer.
Digital Nomads: The ever-expanding group of workers using wireless technology to eliminate the need for an office.
MASHUP: A mashup is a Web page or application that uses and combines data, presentation or functionality from two or more sources to create new services. The term implies easy, fast integration, frequently using open APIs and data sources to produce enriched results that were not necessarily the original reason for producing the raw source data. The main characteristics of the mashup are a combination, visualization, and aggregation. It is important to make existing data more useful, moreover for personal and professional use.
B2C: Business to consumer
Bizmeth: Shortening of “business method”.
Drinking the Kool-Aid: Is a metaphor commonly used in the United States and Canada that refers to a person or group’s unquestioning belief in an ideology, argument, or philosophy without critical examination. The phrase typically carries a negative connotation when applied to an individual or group. The basis of the term is a reference to the November 1978 Jonestown Massacre, where members of the Peoples Temple were said to have committed suicide by drinking a “Kool-Aid“-like drink laced with cyanide.
SAAS: Software as a service Is a software delivery model in which software and its associated data are hosted centrally typically in the Internet, cloud and are typically accessed by users using a thin client, normally using a web browser over the Internet. SaaS has become a common delivery model for most business applications, including accounting, collaboration, customer relationship management (CRM), enterprise resource planning (ERP), personal resource planning (PRP), invoicing, human resource management (HRM), content management (CM) and service desk management.
Glocalization: A combination of the words “globalization” and “localization” used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market. This means that the product or service may be tailored to conform with local laws, customs or consumer preferences. Products or services that are effectively “glocalized” are, by definition, going to be of much greater interest to the end user. Yahoo! is an example of a company that practices glocalization.
Cloud computing: Is the delivery of computing as a service rather than a product, whereby shared resources, software, and information are provided to computers and other devices as a metered service over a network (typically the Internet). Computing clouds provide computation, software, data access, and storage resources without requiring cloud users to know the location and other details of the computing infrastructure. This type of data centreenvironment allows enterprises to get their applications up and running faster, with easier manageability and less maintenance, and enables IT to more rapidly adjust IT resources (such as servers, storage, and networking) to meet fluctuating and unpredictable business demand.
So that was a trip back in time. For buzzwords, five years is a long time. Now, don’t get too attached to them, but here are the latest ‘hot’ buzzwords for 2018. Come back and check on their pulse in 2023…
Content originally sourced from Investopedia and Wikipedia.