For the university of missouri’s orvil savery, a 2019 best brightest MBA, such clichés create a “secret club,” replete with a “secret language and a blazer.” if anything, he says, MBA-speak serves an essential purpose. “you haven’t truly become initiated until you can walk into a histiocytoma human room or give a presentation and say something like “it depends” for literally every answer without anyone looking confused,” savery jokes. “you might not fully have the answer but at least histiocytoma human you’ve bought yourself some crucial minutes to come up with histiocytoma human a solution.”
“acronyms that drive me crazy are 3cs or 5ps models,” she says. “did you know that 5ps stands for “product-price-promotion-place-people” for marketers, “plan-ploy-pattern-perspective-position” for strategists and “planning-process-people-pricing-partnerships” for entrepreneurs? Same story with 3cs. Please, tell business people who create those models that there are histiocytoma human 24 other letters in the english alphabet. Stop overusing P and C.”
Alas, PC itself can stand for “property and casualty” or “personal and commercial” in business school too. Despite being dense and overlapping, MBA-speak conveys some real truths – often tongue-in-cheek – about MBA life. Ever hear of the turkey drop? It’s seemingly an annual ritual, usually around thanksgiving, where a first-year MBA will dump a long-term or long-distance beau. How about the circle of death? At networking events, eager mbas form a circle around recruiters, each vying to make an impression. Of course, everyone knows FOMO – fear of missing out – an impulse that leaves thousands overcommitted and overwhelmed every year.
What are some of the most critical terms in the histiocytoma human business school lexicon? This year, poetsquants asked our best brightest mbas and mbas to watch histiocytoma human to share the “goofiest MBA term or acronym” they encountered…along with its meaning. Looking to get a head start on business school – or in need of a good laugh? From the big mac index to the HIPPO effect to histiocytoma human the relationship IPO, here are 30 MBA terms that left the biggest impression histiocytoma human on the class of 2019.
BHAG: big hairy ass goals – set them and set them often. I remember celebrating receiving my full-time offer with my career coach, who gave me a hug and then immediately asked me histiocytoma human what my next BHAG would be (after mere minutes of feeling the high of a job histiocytoma human offer). Setting goals is important, achieving them is rewarding, and then setting the bar to a higher level is histiocytoma human what helps us to continue to grow. Jennifer solomon, indiana university (kelley)
Blue ocean vs. Red oceans: I first listened to this in a global strategy class histiocytoma human and I had no idea of what it meant. But basically, blue ocean strategy is when a company creates its own histiocytoma human market space and make competitors irrelevant. Red ocean can be explained as a really competitive market histiocytoma human space, where companies fight to get customers. And yes, red is associated with blood.
Circle of death: imagine you are at a networking reception and there is histiocytoma human one representative from your dream company in your dream function. Now imagine there are 10 other people also interested in histiocytoma human speaking to the same representative to form a connection and histiocytoma human somehow you all end up in one large, growing circle. Everyone is awkwardly nodding and smiling at the same person histiocytoma human while thinking of that one “home run” question. To make matters worse, no one knows how to politely exit. This is the infamous circle of death.
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