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Differentiating the Component Parts of Business

As we demonstrated with our treatment of “Science,” defining the words we use is the gateway to clarity and understanding. Similarly, we can make discoveries in the area of doing business by identifying and differentiating its component parts and the individual skill sets needed for each.

Analysis

Having established an accurate vocabulary, we can move forward with confidence that we will make important discoveries relevant to starting and running a business.

To illustrate, the word “marketing” has a unique place in the vocabulary of doing business. Yet, many people use it to represent something else. For example, many salespeople use the word “marketing” as opposed to “sales” when describing what they do for work.

Note: Typically people use the word “marketing” incorrectly for one of two reasons. The first is they are unaware of the actual definition of “marketing” from not having differentiated the various terms relevant to doing business. The second reason they use the word “marketing” rather than “sales” is because it makes them feel better about what they do.

With so many aspects to “doing business,” we have to focus on areas that can make the biggest difference to a company. The subsequent links on the vertical menu reflect those areas of doing business in which we can improve individual and team performance significantly.




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