Exogenous. Endogenous.
I like these two words because scientists like them. Scientists sound smart, even when they aren’t. If you choose to include these words in your business vocabulary you might sound smart too.
Anyway,
when something is exogenous it’s coming from outside of a system. Your business is a system. Thus, an outside force that affects your business.
Endogenous means it’s coming from inside the system.
(I wish I could tell you that my three years of high school Latin came in handy here. It did not.)
Let’s say a giant storm smashes the window out of a fancy office. Wind and rain and bits of glass completely destroy a $5 million Picasso painting in the corporate lobby. Exogenous.
It turns out the CFO is a lazy drunk who didn’t pay the insurance premiums. Endogenous.
(Why do they have a $5 million painting the lobby?)
Anyway,
The good things that happen in the business are also endogenous or exogenous.
Suppose the legislature passes a law giving favorable tax benefits to those who purchase the business’ products.
Exogenous.
The lazy drunk CFO is drinking buddies with a gang of influential senators and congressmen, who happen to pass said legislation as a favor to a friend and/or to avoid blackmail.
Endogenous.
Let’s suppose I conduct a workshop for a company and they discover a revolutionary insight.
Endogenous.
Or, I facilitate a workshop for their competitor and they come up with an industry-disrupting idea.
Exogenous.
There you have it. Two nice little words to spruce up your business vocabulary for the Holidays.
Do you have a favorite businessy word?