Glossary – What Our Terms Mean

The purpose of this glossary is not necessarily to invent new terms but to define what the terms mean in the context of this resource.

There may be debate about the definitions, but at least we all understand what is meant. 

Hypothesis

Hypothesis - singularHypotheses - plural A fancy name for a guess or assumption. Having a guess or assumption is not a crime. What is perhaps criminal is acting on a guess or assumption without evidence - doesn’t make a lot of sense really. A supposition or proposed...

Industry Structural Analysis

A business does not exist in a vacuum – its existence and activities have an effect on its respective industry environment and vice versa. Industry Structural Analysis is analysis to establish whether an industry is or can be structurally attractive, meaning, “is...

Innovation

Innovate, Innovating, Innovation: “Make changes in something established, especially by introducing new methods, ideas, or products.” en.oxforddictionaries.com. “The effort to create purposeful, focused change in an enterprise’s economic or social potential.” Classic...

Jobs To Be Done

A job is defined as the progress that a customer desires to make in a particular circumstance. The Theory of Jobs to Be Done requires that we: Focus on deeply understanding the customers’ struggle for progress, in specific...

Lean Thinking

The core idea behind Lean principles is to “maximize customer value while minimizing waste. Simply, lean means creating more value for customers with fewer resources.” (https://www.lean.org/WhatsLean/) Lean is more than a collection of tools, it is a way of thinking...

Loyalty

Customers give their loyalty when they have consistently good Customer Experiences that meet or exceed their expectations and that appeal to their conscious and subconscious emotional needs as well. [Unlocking the Hidden Customer Experience 2014, Colin Shaw]

Market

A Market is "various groups of customers."Marketing Management, 15th. Edition, Philip Kotler, Kevin Lane Keller. A market should be described in terms of customer need and in a way that covers the aggregation of all the alternative solutions that customers regard as...

Marketing

Noun - "the company's customer manufacturing department."Philip Kotler, Marketing Insights from A to Z, Page xi Noun - "the company's customer manufacturing and retention department."Paraphrased by Glyn Davies - Business Resultant® Verb - "Marketing is not the art of...

Mentoring versus Consulting

From the Oxford English Dictionary: Mentor - “An experienced and trusted adviser.”Mentoring - to “Advise or train someone.”Consultant - “A person who provides expert advice professionally,” i.e., for remuneration.Consulting - “Engaged in the business of giving expert...