February 2012
27 posts
1 tag
MMP
Massively Multi Player. A type of online game where the players are connected by a computer network.
Usage: MMP games use high-speed data networks linked to the Internet.
1 tag
Organizational Development
The process of working on how an organization functions. Frequently abbreviated as OD.
Usage: Organizational development includes both the people and behavioral aspects of a business and its structural aspects.
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Suboptimal
A thing or a strategy that is less than the best — less than optimum.
Usage: They agreed to a suboptimal solution because they did not have enough money to do everything they wanted.
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Runway
The amount of time and resources it takes for a new company to start selling products or services.
Usage: The CEO believed he had eough runway to get the new product launched.
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Variable Cost
A cost that changes based on usage.
Usage: An employee paid by the hour is a variable cost.
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Rolling Budget
A budget that is updated every period so that it always covers the same length of time, usually one year. Sometimes called a continuous budget.
Usage: The budget committee meets monthly to update the rolling budget
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Generative
A set of circumstances that allows people to find new uses.
Usage: Apple set up a generative scenario by encouraging iPhone and iPad apps.
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1 tag
Customer Requirements
Features, functions, qualities, and price that have been determined to be important to potential purchasers of a product or service.
Usage: The marketing department was responsible for identifying the customer requirements so the engineers could design a service that would sell.
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Up to Par
Reaching an expected standard of quality. Often used in the negative (“not up to par”). From the Latin “par” meaning “equal.”
Usage: The client was disappointed that the work was not up to par.
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1 tag
DIY
Do It Yourself. Used to describe the market of people who are willing to do tasks and chores instead of hiring someone else to do them.
Usage: The DIY market consists of both hobbyists and people trying to save money.
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Fumble the Ball
Cause things to not go well. From an American football reference to the ball slipping out of the hands of the player holding it.
Usage: Don Draper fumbled the ball when talking to the press but managed to recover in a later interview.
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Capital Intensive
A business, product, or service that is highly dependent on equipment or capital investment. Compares to labor intensive.
Usage: The telecommunications business is highly capital intensive because of the amount of money required to purchase and install switches, transmission media, and monitoring equipment.
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Photo Op
Photograph Opportunity. An occasion or event designed to provide photographers with access to the key participants for publicity purposes.
Usage: The media group set up the photo op to show company staff doing charity work.
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SOX Compliance
Adhering to or complying with the rules and requirements of the Sarbanes-Oxley Act (SOX).
Usage: SOX compliance was supposed to increase confidence in the data found in annual reports of companies traded on the stock exchanges.
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LOI
Letter of Intent. A generally non-binding outline of an agreement. Similar to an MOU (Memorandum of Understanding).
Usage: If the two parties cannot agree to the wording in an LOI then it’s likely they won’t be able to agree to wording in an actual contract.
1 tag
Early Adopter
A person who is the first to try, purchase, and use new technologies or new products.
Usage: Marketers of new products need to appeal to early adopters.
Pro Forma Financial Statements
Financial statement prepared using budgeted or forecasted numbers.
Usage: After completing the budget, we can create pro forma financial statements to see what the net income might be.
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Labor Intensive
A business, product, or service that is highly dependent on the work efforts of people. Compares to capital intensive.
Usage: A housecleaning business is labor intensive because people are needed to dust, mop, and vacuum.
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Revenue Center
A logical subdivision of a company that is responsible only for sales. Opposite of a cost center.
Usage: The telemarketing division is a revenue center.
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Term of Art
A word or phrase that has a specific meaning in a specific company or industry and may have legal standing or a technical specification. Informally, jargon.
Usage: In the electric utility business, the word “reliability” might be a term of art that refers to a measure of unexpected power outages and whether or not the outage exceeds three seconds.
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1 tag
Digital Immigrant
A person who did not grow up in the digital world but had to learn new technology as it became pervasive.
Usage: University faculty are digital immigrants teaching 20-year-old digital natives.
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CMS
Content Management System. A service that manage web content. WordPress and Tumblr are examples of CMS systems designed for bloggers.
Usage: CMS services make it easier for non-programmers to manage and update their websites.
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Forecast
A financial projection based on information from the recent past, future plans, and expectations.
Usage: A forecast in the last quarter showed that if no changes were made, budget numbers would not be met.
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OPM
Other People’s Money. Bank or personal loans, venture capital, investment, or grants that might be made available to a business.
Usage: The business owner was looking for OPM instead of putting his own money at risk.
January 2012
32 posts
Fourth And Goal
A success under pressure. From an American football reference to scoring a goal on the fourth down when the alternative is turning over the ball to the competitor.
Usage: It was fourth and goal when the sales team won the contract after a long series of open bids and proposal meetings.
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1 tag
Freemium
A business strategy that depends on giving away basic services for free and charging for premium services.
Usage: The web entrepreneurs wanted to use the freemium business model.
Taxable Income
Taxable revenue less all tax-deductible expenses and credits.
Usage: Taxable income is usually different from net income because of tax laws.
1 tag
Bottom Line
The line on a financial statement that identifies the profits. Also, the main point of a discussion or document.
Usage: The bottom line was that the decision maker said, “No.”
Marathon
Intense business activity over a long period of time. From a reference to a race that is 26 miles and 385 yards (or 42.195 kilometers) long and is a test of endurance and skill. Compares to a sprint.
Usage: The team put in a marathon session to get the project ready for presentation to the client.
1 tag
Dotted Line
The signature space on a contract, a sign-in sheet, or any other document that requires a signature.
Usage: A sales contract isn’t a contract until the signature is on the dotted line.
1 tag
Run With the Ball
Enthusiastically get a job done. From a reference to any team game played with a ball where a player receives the ball and takes it toward the goal.
Usage: The team leader was looking for someone to run with the ball and organize dinner when they had to work late.
1 tag
FINRA
Financial INdustry Regulatory Authority. Pronounced fin-rah. An independent regulator for all securities firms doing business in the United States, dedicated to investor protection and market integrity.
Usage: FINRA responsibilities include enforcing industry and federal securities laws.
Repurpose
“Repurpose” seems to be an ever-so-useful word. It’s a lovely catch-all, more so than “reuse” and “recycle” and far better than “salvage.” Akin to http://bit.ly/vyXg7m
1 tag
Virtualization
The creation of an unreal, or virtual, version instead of the actual version. Generally refers to the elements of computing such as hardware, software, storage, and networks.
Usage: As a result of virtualization, computing is not limited to things that are in the same place at the same time but rather can take advantage of resources that are in separate places.
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Zero-Based Budget
A budget process where every line item needs to be justified.
Usage: Every five years, instead of a budget based on the previous year’s budget, we create a zero-based budget.
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Critical Path
The ordered series of events in a project that take the longest to complete and thus influence the schedule. Commonly used to refer to a project’s required activities or resources.
Usage: Activities that were not on the critical path were not included in the budget.
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Accredited Investor
Term defined by US securities law to describe someone who earns at least $200,000 per year or has at least $1 million in net worth and is interested in making certain types of risky investments.
Usage: The entrepreneur was looking for accredited investors so he could raise the funds to expand his business.
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Burn Rate
The amount of cash that a company is spending each month. Typically used with start-up companies that are not yet selling or bringing in revenues.
Usage: Unless we get new investment, our burn rate of $300,000 means we’ll be out of money by the end of the quarter.
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SME
Subject Matter Expert. Pronounced smee. An individual who has a great deal of knowledge on a specific subject. Frequently pronounced smee.
Usage: In order to learn more they needed to consult with a few SMEs.
1 tag
Gift Certificates Payable
A liability or obligation to provide the customer with a product or service on a future date in exchange for payment now.
Usage: Over Christmas we sold $1,000 in gift cards that have not yet been used; therefore, we have a $1,000 gift certificates payable liability.
1 tag
Technical Test
The short-time operation of an implemented technical or engineering design to determine whether it works as planned. Also called a beta test.
Usage: The engineers conducted a technical test before telling the marketing department that the product worked.
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Stick To Your Knitting
Do what you know how to do. Stay with your strengths.
Usage: When considering new product/service ideas, the CEO decided they should stick to their knitting.
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Limited Liability Partnership
A partnership that provides liability protection for all limited partners. Abbreviated as LLP.
Usage: A limited liability partnership must have at least one general partner and at least one limited partner.
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Internal Controls
A rule or procedure designed to safeguard assets and decrease fraud.
Usage: An important internal control to prevent theft is to make sure that the person who reviews the monthly bank statement is not the one who writes the checks.
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Jump On It
To eagerly begin a project or enthusiastically get involved.
Usage: The sales manager liked having someone on his staff who would just jump on it whenever a customer called with a request.
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Merger
The combining of two separate companies or divisions.
Usage: A merger is akin to a marriage between business entities.