A written language (also called leet) whose defining characteristic is substitution of symbols and numbers for letters. Usage: Reading leet requires a bit of imagination at first. 1337 represents the letters leet.
A short-term loan to “bridge” the gap between the current situation and the exit strategy. Usage: They took out a bridge loan so they could finish the construction and then refinance the finished building.
Last In, First Out. Pronounced ly-fow. A method for valuing inventory and determining cost of sales. The opposite of FIFO (First In, First Out). Usage: LIFO matches current revenues and current costs.
The population that has been defined as most likely to be interested in purchasing a product or service. Usage: The promotional program was designed to be of interest to the target market.
Practices to keep inventory fresh. Usage: Stock rotation in a supermarket keeps food with a shorter expiry at the front of a shelf. Stock rotation at a car dealership keeps current model parts available for customers.
Consumer Packaged Goods. Products that individuals and households replace frequently, compared to those that are usable for extended periods (known as durable goods). Usage: Packaged food and beverages, clothing, tobacco and household products are the classic categories of the CPG market.
A process in which one or several people identify many creative ideas on a subject in a short period of time. Usage: They set aside time to brainstorm some solutions before evaluating their options
Cover Your Ass. Refers to activities associated with making sure that procedures have been followed. The goal is to avoid legal and administrative penalties, criticism, or other punitive measures. Usage: Although everyone referred to the project as a CYA exercise, it was important to get all the information to the insurance company.
A liability (such as debt) that is due within a short period of time, usually 12 month or less. Opposite of long-term liability. Usage: Accounts payable is considered a current liability.
A document, either electronic or paper, or outcome that has been promised to a customer or client. May be contractually specified in terms of both time and content. Usage: The consultant agreed that the deliverable would be available on Friday.
The general expenses that become a part of cost of goods sold because they are consumed or required by the manufacturing process. Usage: The shop supervisor’s salary is a part of manufacturing overhead.
The combining of two separate companies or divisions. Usage: A merger is akin to a marriage between business entities.
The location where the customer is actually paying for the product. Abbreviated as POS. Usage: A cash register is one type of POS terminal.
The basic skills and understanding of computers and how to use them. Also called digital literacy. Usage: Computer literacy is as basic to the 21st century as knowing letters and numbers.
Development of a definite statement about the future based on knowledge of how changes in the environment will shape the future. Usage: The prediction or sales forecast was based on the market research.
OPerating EXpenses. Those expenses in a financial statement that represent the money spent by the business. Usage: The managers were trying to figure out how to decrease opex and increase profits.
A strategy used to retain customers by selling services in bundles or packages. Usage: The customer finds it more difficult to leave for a competitor when entangled in a bundle of services.
A prohibition against an individual competing with another company, usually a former employer. Usage: The company required the new sales manager to sign a non-compete clause.
Copyrights, patents, and know-how. Usage: The company’s competitive edge was based on its intellectual capital.
A roof-like cover that provides protection from the sun or weather. Usage: The new restaurant has a canopy that provides shelter from the weather for outside dining.
A single dwelling unit occupied by an individual who is responsible for maintenance or security of a property. Usage: The public storage company has a caretaker quarters so someone is there for emergencies & security.
Two or more individuals who drive to and from work, on a regular basis, in their own vehicle. Usage: Carol and Bob carpool with Al, in his car, to and from work each day.
A partially open structure for the parking of up to three vehicles. Usage: The carport in the rear of this house protects the cars from rain and snow.
The portion of a street for use by cars and trucks. Usage: The paved road surface is a cartway for vehicles while the sidewalk is for pedestrians.
A licensed facility for games of chance. Usage: Gamblers no longer have to go to Atlantic City to find a casino.
April 2013 www.execuspeakdictionary.com - http://cts.vresp.com/c/?SCOREPhila/51948360ff/960ab26fe6/793a443d25 Slowly, but Surely… ExecuSpeak Dictionary® continues to make progress. Long-time recipients will notice the new format and style of the newsletter. Less crowded, fewer words, more white space. The big news is that we’ve got two new editions in the works. Inspired by...
An area of coverage that is a separate link in a wireless communications system. Usage: Those antennas on the top of the building cover this 5-block cell area for Verizon.
A facility that transmits and receives wireless telecommunications signals. Usage: Some cell sites have many antennas and a generator for back-up power.
Horizontal level of a structure that is 50% or more below grade. Usage: The cellar is finished to be used as a den.
The distance along any street line between the nearest intersecting streets. Usage: The block frontage of Locust Street between 8th & 9th Streets measures 580 feet.
Body Art Service
Procedures including body piercing, tattooing, cosmetic tattooing, branding, or scarification. Usage: Mike provided a body art service when he tattooed Jenna’s lower leg.
A short and permanent post. Usage: Bollards are frequently used to prevent cars from parking on the sidewalk.
Building Logo Sign
Copy limited to an identification of the building. Usage: The top of the building has the company logo for its sign.
Maintenance and repair services for the structural and mechanical elements of a building. Usage: The management company cleans the tenant’s carpets as an added building service.
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Building Supplies and Equipment, Retail Sales of
Use that sells goods to repair, maintain, or visually enhance a structure or premises. Usage: Home Depot is a retail seller of building supplies and equipment.
Uses that provide office services to businesses or consumers. Usage: Kinko’s offers business support services so the salesperson went there to make copies of the presentation.
Projects or uses that are permitted under current zoning law. Usage: The deck at the rear of that house is by right and only needs a permit for construction.
Bicycle Storage Facility
A shed, storage room, or locker designed to hold one or more bicycles. Usage: The bicycle storage facility in the apartment complex is a locked room in the parking garage.
The smallest possible area of land bounded by three or more legally open streets. Usage: Rittenhouse Square is a city block.
A row of small posts that is topped by a rail along the edge of a terrace, bridge, staircase, or the eaves of a building. The balustrade’s individual shafts have beautiful detailed surfaces.
Bank of a Surface Water Body
The land that contains a surface water body at its highest flow. Usage: The tidal basin along the Schuylkill River is contained by the edge or bank of the river.
A flood having a one percent chance of being equaled or exceeded in any given year. Also referred to as “100-Year Flood.” Usage: The flooding from Hurricane Irene exceeded the 100 Year Flood or Base Flood.
Horizontal level of a structure where less than 50% is below grade. Usage: The young house hunters expected to see a water heater and the furnace in the basement.
Window structure that projects from the wall of a building. Usage: The family cat likes to sit in the bay window to keep watch on the street.
Place that offers four or more pinball machines, ping pong, darts, or electronic shooting galleries. Usage: The mall has an amusement arcade for teens to play electronic games.
Uses that involve the feeding, housing, and care of farm animals for private or commercial purposes Usage: This horse stable is an animal husbandry for weekend riders.
Common right-of-way shared by three or more landowners that provides secondary access to lots. Usage: The rear alley provides access for trash removal.
Pet groomers, rescue shelters, animal medical centers, pet crematory services, etc. Usage: PetSmart animal services include dog grooming.
Share a boundary or border or be separated only by an alley or shared driveway. Usage: The states of Pennsylvania and Delaware abut each other.