The role of CISO has evolved over time. You know the technology, however, you are going to involved in “business” discussion quite often. Understanding and speaking business language is critical for your success. It is also crucial for effective communication inside your organization.
If anyone of the following terms seem cryptic to you, there is a good likelihood that you need to learn some business terminology.
- Finance – Present/Future Values, Amortizations, CAPEX and OPEX, Depreciation, Cash Flow, Net Present Value (NPV), Payback Period.
- Marketing – Impressions, CTR (Click Through Rate), Conversation Rate, Cost Per Thousand (CPT), Bounce Rate, Visits and Hits, Exposure, Infomercial, SEO.
- Business Management – Assets, Capital, B2B, Balance Sheet, Benchmarking, BPO, CGS, Supply Chain, Deming Cycle, Fiscal Year, Fixed and Variable Costs, GAAP, KPI, ROI, SWOT Analysis, Benchmarking.
- Stock Market – Market Capitalization, Quarterly/Annual Reports (8-K, 10-K, 10-Q), Dividend, public records, Options, Futures, Face Value, SEC, NYSE, Emerging Markets, Ratings, Basis Point, Book, Hedge, Index, Insider Trading, Venture Capital, Ticker.
In addition to the above, there are terms specific to your industry. For example, insurance industry has its own terminology like “liability coverage” that you need to learn if you are in working in an insurance company. Same is true for manufacturing, banking, retail, government, and other industry sectors.
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