15 Critical Business Concepts Explained

1. Random Walk Theory: side effect of eating too many weed brownies.

2. The 80/20 Pareto rule: book 20 minutes for a meeting and ramble for 80.

3. Liabilities: number of calls from suppliers/banks rejected in a day.

4. Kaizen & Kanban: medical conditions developed when working overtime.

5. SMART: Set Miscellaneous Absurd & Ridiculous Targets.

6. Productivity: number of meetings set/number of meetings attended.

7. Technological Change:  changing Human Error with Technical Issues in the “Cause of failure” section.

8. Delivery Deadline: appropriate time to set your project kick-off meeting.

9. Customized versus Standard: selfies versus group shots taken during office hours.

10. Warehouse Management System: complex methodology of sorting and labelling your winter supplies.

11. Level of Transparency: Degree of cleanliness of your office window (if applicable; otherwise of your glasses).

12. Cloud Storage: 9th cloud where you typically leave your mind from 9 to 5.

13. Multiple Linear Regression: discovering your past lives and former karma.

14. Balance Sheet: number of minutes you can keep your balance after being three sheets to the wind*.

15. Break-even Point: minimum number of bricks to safely sustain your castle in the air*.

*three sheets to the wind = drunk;  *castle in the air = impracticable plan or desire.

Note: When in doubt, it is strongly advised to consult a dictionary rather than relying on common sense :-).

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