Definitions Socio / Economy

Question 1

Define Real-time Paradigm

Answer 1

Real-time paradigm is the term used to describe today’s expectations regarding instant reactions learned primarily through the use of real-time communication technologies.

This expectation of customers to receive goods, information and media reactions immediately spreads over to the B2B sphere. Shorter response times for service e-mails and messages in social media channels, instant availability of goods and extremely prompt deliveries in logistics are examples of an instant need satisfaction.

Question 2

Define Millennial Workforce

Answer 2

By 2020, millennials (born between 1980-2000) will make up more than a third of the world’s working population. In addition to a creative and flexible corporate culture (i.a. flexible working hours and locations, innovation culture), transparent and fast (mostly digital) communication and decision-making structures are important to them.

Also, millennials care more about the social impact of their work and what the company stands for. In the global war for talents, companies need a clear millennial strategy.

Question 3

Define Agile Enterprise

Answer 3

The basic ideas of agile software development are increasingly being incorporated into the management, leadership and overall organization of companies.
In order to survive in a VUCA world (volatility, uncertainty, complexity and ambiguity), companies are increasingly being structured according to the principle of self-organization with decentralized organizational structures, which can even extend to holacratic organizational structures.

Question 4

Define Circular Economy

Answer 4

The aim of the circular economy is to no longer allow products to become waste after their use and, instead, reintroduce them into the production cycle as secondary raw materials.
This trend includes processes and technologies from proper yet uncomplicated forms of recycling and more elaborate processes of waste mining. Products made of secondary materials range from leftover food to building materials from scrap tyres. Especially resource-intensive industries benefit from the reprocessing of used materials.