MBA WordPlay: Order of Magnitude
This post is part of a continuing series of words and phrases that you’re likely to hear in b-school, but may not be familiar with.
“Order of Magnitude”
Officially, order of magnitude has to with estimating something within a power of 10, but in the business sense, it’s often used to describe an estimate that is within a range that allows for meaningful discussion and decision-making.
Some interesting discussion on the phrase can be found here. (Thanks, Hoover’s!)
Like this feature? Hate it? Current MBAs, have some phrases or words you wish you knew before you got to school? Let me know by posting a comment below or getting in touch.