According to Bloomberg News, as the executives belonging to the corporate world try to negotiate their lifestyles and dodge the impacts of the pandemic, shortfall in the workforce, rising inflation, there is one common thing that everyone is bound to agree to, and that is the fact that the journey has been one that is worth remembering.
As we talk about the word “journey,” the S&P 500 executive has in the current year made the buzzword soar y almost 70% to 3,091, thereby making the word one of the most used and fastest-growing buzzwords in the corporate world and also one that is in recent memory. This term was seldom used earlier, and it was used just once in 2001. However, these days, the word is being used to talk about or explain any type of business goal, even though it is one of the most mundane words.
Says Grant Barrett, the co-host of the popular radio show, “A Way with Words,” we are always on the lookout to say the same thing in new ways. Barrett also says that the buzzword journey sounds very “corporate” and is less clinical than saying something like “in the last eight quarters.” Also, it sounds much more affirming while we are talking about a period that witnessed a lot of transitions and uncertainties.
The kind of corporate journeys differs immensely. While some are strategic, like the CVS Health Corp is trying to evolve by altering its business model that comprises bringing down the shutters for hundreds of brick-and-mortar pharmacy stores and improving upon their virtual healthcare services, reports Bloomberg News.
On the other hand, General Motors Co. is on a “journey.” It is trying to transform from a so-called “automaker to platform innovator,” as stated by the company’s finance chief at the beginning of this month.
Similarly, when there is a merger, it means that the journey is that of “integration.” This case is exemplified by the journey of wireless provider T-Mobile US Inc that is trying to get its rival of a long time, Sprint Corp.
According to Bloomberg News, the efforts for inclusion and diversity do not take place overnight; it is a journey towards cost-cutting and sometimes sustainability. Consumers are often, and this is manifested by the efforts of Salesforce.com Inc, which intends to take their clients on a connected commerce journey, which implies that it is a trip through virtual clouds.
Regardless of the type of journey, it is seldom a journey with an end date or is well-defined. An advantage of using the buzzword is that it allows companies to be opaque and enjoy flexibility.
Whenever the analysts ask executives about the clarity on the journeys related to the better profit margins or better returns from the stakeholders, they are reminded that journeys take time and are still in the initial stages.
