Business Buzzwords That You Need to Know in 2021

There are no two ways to say it, there are simply some buzzwords floating around today’s economy that you must get familiar with. Even ones that you do not feel like pertain to your industry or profession specifically can still hold weight in terms of your overall knowledge of current business trends. Regardless of if you are an entrepreneur, employee, investor, or job seeker, do yourself a favor and brush up on these key phrases sooner than later. 

Logistics

You may be under the impression that the term logistics applies only to businesses within the shipping and trucking industries, but that is far from the truth. Yes, fleet management is responsible for much of this terms weight but not all of it. Logistics can refer to a plan of action within a team, the coordination of a special event, or a collaborative effort across departments. In terms of the shipping and trucking industries though you should also note that in tandem with logistics and fleet management is the implication of tracking and monitoring. Installing dash cams is an action related to logistics that is arguably less obvious than say, GPS tracking. Still, you can review a guide on how to select the best dash cam for your fleet and increase your overall efficiencies. 

Freemium 

Here, the words free, and premium are combined to create a new term that is gaining traction. How you can understand this better, is by recognizing that it stems from business models that include providing customers with both complimentary and extra cost services. As of late, technology is taking advantage of freemium services and using this data to uncover new ways to add things like in-app purchases, or specialized features within free programs. 

Visibility 

Typically used within a marketing focused conversation, visibility refers to the level of popularity a product or company has within their targeted market. The hope here is that high visibility will increase sales and help establish a good business reputation. 

Deep Dive

If you have sat through even one Zoom meeting over the past year and half, you have undoubtedly heard the term deep dive thrown around. When someone suggest this, you should interpret it as a verb. The request being made is basically a closer look at the subject at hand and a more thorough brainstorming session with all the necessary participants. 

Synergy 

Still keeping in turn with collaboration, synergy refers to the way that multiple components work in tandem to reach a common goal. To achieve technical synergy, the team in question should get along well and produce high quality content, as a direct result of possessing this collective skill. 

Move the Needle

This term comes with the implication that you can actually imagine or visualize the action, based off the name. When managers, or business owners talk about moving the needle, they are basically encouraging their team to make a splash or institute a change within their industry. If you have been said to move the needle, you can take that to mean that you have been identified as someone who is forward thinking and is seen as influential within the business world and community.