Coming straight out of high school, I had a very extensive range of vocabulary words embedded within my business brain. For one, there was the term “CEO” – defined by me as “a person that makes lots of money.” I also acquainted myself with the term “marketing.” I knew that it had something to do with bright colours and happy people on billboards.

Needless to say, three weeks into the school year, my terminology base has fortunately been broadened and refined.

One week ago, I had anticipated the class on Operations to be a “fun” (note the scare quotes) class about logistics and management. My idea of operations was scandalous; I had this crazy notion that it would be all about numbers and trucks. Thanks to the required prep readings and guest speaker Professor Nahesh Nagarajan, I walked out of class as a new, better informed individual of what operations is actually about: a mélange of numbers and trucks transforming inputs to outputs in the most efficient, effective, and cost-minimizing manner.

From Tempfix Solutions Limited

However, this blog post isn’t simply about my reflections from that operations class. This post is actually inspired by six words that will resonate throughout my four (or more) years at Sauder and well into my adult career:

INCREASE DEMAND

CHARGE MORE

CUT COSTS

And there you have it – the secret of business, as outlined by Prof Nagarajan.

Fundamentally, those six words are the foundation of today’s business, but to really push the gears and start reaping profit requires the brainpower of more than just innovative people and their buddies; it takes the efforts of a team of motivated individuals who strive to fulfill a need in society.

Now, the question I pose: is business simple and straightforward or is there some secret formula to be revealed?