January 2011
58 posts
mgmt
A common abbreviation for the word “management.”
Usage: The mgmt course was held on Tuesdays.
merger of equals
The combining of two companies that are of the same size and strength.
Usage: A merger of equals implies that neither acquired or purchased the other.
monetize
The process of turning something into cash money or legal tender. Can refer to things as well as ideas.
Usage: The challenge for many web-based businesses is figure out how they will monetize their idea or their traffic.
productize
The process of turning a thing, idea, or service into an organized product for sale.
Usage: We’ll have to productize that service before advertising to generate sales.
identity
The characteristics that a company name brings to mind when it is mentioned in conversation or used as an example.
Usage: Walmart has been working hard to shift its identity from being stingy with its employees to being a great place to work.
First Review Is In!
Just left Bill Ashton’s class at the University of the Sciences. The Associate Provost told his business students the book was filled with “gems and pearls.” ExecuSpeak Dictionary is being used a textbook!
Franken-speak
Convoluted and confusing text that doesn’t sound like an actual person wrote it.
Usage: The user instructions were written in Franken-speak.
proprietary
Private systems and software that are frequently protected by copyright laws and patents.
Usage: The proprietary systems provided a competitive edge
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Gen X
People born between 1961 and 1981. In 2010, that would be people between the ages of 29 and 49.
Usage: Gen X, or Generation X, saw the use of personal computers expand from unusual to commonplace.
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bleeding edge
More than leading edge. New technology that is not yet proven, may be unreliable, difficult to use, a challenge to learn. The user may end up wounded or “bloody.”
Usage: Users on the bleeding edge have to be both adventurous and patient.
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kludge
A solution to a software or hardware problem that is messy, patched, certainly not elegant, but possibly creative.
Usage: The IT guy figured out a kludge to get the equipment up and running for the important meeting.
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thought leader
A well-regarded professional who is able to express new ideas and new thinking on a particular subjects. An innovator who influences others.
Usage: Many believe that Jack Welch was an outstanding a CEO and a thought leader in the field of management.
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mash up
Combining multiple pieces of technology into a single document.
Usage: The host mashed up the email invitation by including a mapquest map, a downloaded picture, a photo and some text.
raw material
A component that becomes a part of the product being manufactured. Also called direct material.
Usage: Tomatoes are a raw material for the manufacturing of spaghetti sauce.
recurring expense
An outflow of money related to normal business operations that is expected to recur regularly.
Usage: Rental payments are an example of a recurring expense.
recurring expense
An outflow of money related to normal business operations that is expected to recur regularly.
Usage: Rental payments are an example of a recurring expense.
risk and contingency plan
An analysis of external and internal events that can jeopardize a project’s completion, along with suggested alternative actions.
Usage: By developing risk and contingency plans an organization is prepared to respond to unplanned events.
risk and contingency plan
An analysis of external and internal events that can jeopardize a project’s completion, along with suggested alternative actions.
Usage: By developing risk and contingency plans an organization is prepared to respond to unplanned events.
strategic fit
A match between corporate objectives and goals and the benefits a new service or product will provide to the corporation.
Usage: When the automobile company decided to sell bicycles, many questioned the strategic fit.
strategic fit
A match between corporate objectives and goals and the benefits a new service or product will provide to the corporation.
Usage: When the automobile company decided to sell bicycles, many questioned the strategic fit.
cluster analysis
A statistical analysis that groups people or objects on the basis of common characteristics.
Usage: As a result of the cluster analysis, the Marketing Department identified market segments.
cluster analysis
A statistical analysis that groups people or objects on the basis of common characteristics.
Usage: As a result of the cluster analysis, the Marketing Department identified market segments.
tangible asset
An asset that is physical in nature and can be seen or touched.
Usage: Inventory and equipment are tangible assets.
tangible asset
An asset that is physical in nature and can be seen or touched.
Usage: Inventory and equipment are tangible assets.
zombie
A computer that has been taken over by another computer, from a distance, usually by a hacker or by someone with a malicious motive.
Usage: My computer has turned into a zombie; it just does things without my knowing about it.
zombie
A computer that has been taken over by another computer, from a distance, usually by a hacker or by someone with a malicious motive.
Usage: My computer has turned into a zombie; it just does things without my knowing about it.
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GAAP
Generally accepted accounting principles that are issued by FASB. Pronounced as “gap.”
Example: US based company financial statements are required to follow GAAP.
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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.
Example: A housecleaning business is labor intensive since people are needed to dust, mop and vacuum.
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SOX compliance
Adhering, or complying, to 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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SEC
Securities and Exchange Commission. The primary purpose of the SEC is to regulate the securities industry.
Example: The SEC is a US federal agency that enforces federal securities laws.
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early adopter
The person or group of people who are the first to try, purchase, and use new technologies or new products.
Usage: Marketers need to appeal to early adopters when new products are made available for sale.
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capital intensive
A business, product, or service that is highly dependent on equipment or capital investment. Compares to labor intensive.
Example: The telecommunications business is highly capital intensive due to the amount of money required to purchase and install switches, transmission media, and monitoring equipment.
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FASB
Financial Accounting Standards Board. Pronounced fas-bee. The primary purpose of the FASB is to develop GAAP (Generally Accepted Accounting Principles).
Example: The FASB regularly issues new accounting standards for US companies to follow.
work in process
The cost of all direct (raw) materials, direct labor, and associated overhead for goods that are in the middle of the manufacturing process. This cost might be tallied at the end of a month. Abbreviated as WIP and pronounced wip.
Usage: Our work in process balance included 90% of the raw materials but only 50% of the direct labor.
work in process
The cost of all direct (raw) materials, direct labor, and associated overhead for goods that are in the middle of the manufacturing process. This cost might be tallied at the end of a month. Abbreviated as WIP and pronounced wip.
Usage: Our work in process balance included 90% of the raw materials but only 50% of the direct labor.
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photo op
Abbreviation for “photograph opportunity.”
Usage: The media group set up the photo op to show company staff doing charity work.
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term of art
A word or phrase that has a specific meaning in a specific company or industry. Jargon is more informal. A term of art may have legal standing or a technical specification.
Example: 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 3 seconds.
straw man
A hypothetical situation or plan that is used to focus a discussion. Frequently an idea or notion that is not expected to be the complete solution.
Usage: The team put forth a straw man to get management’s response.
straw man
A hypothetical situation or plan that is used to focus a discussion. Frequently an idea or notion that is not expected to be the complete solution.
Usage: The team put forth a straw man to get management’s response.
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Annual Review
A review of the financial statements by an outside company that is not as thorough as an audit.
Example: Many small companies get an annual review because it is cheaper than an audit.
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digital immigrant
People 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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Audit
Thorough review of the financial statements including a comment on conformance to GAAP. Word frequently used to refer to a more general review. Context is important.
Example: All publicly traded companies are required to have an annual audit.
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Compilation
The preparation of financial statements by an outside company without any review of the underlying data.
Example: Start up companies often hire an accountant to do a compilation.
sticking point
The issue that is making it difficult for people to agree during the course of a negotiation.
Usage: The best they could do was to outline the sticking points.
sticking point
The issue that is making it difficult for people to agree during the course of a negotiation.
Usage: The best they could do was to outline the sticking points.
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pixel
Abbreviation for Picture, or Pix, Element. It is a single point in a digital graphic image.
Usage: New digital cameras have higher pixel ratings than older digital cameras.
stakeholders
All of those who have an interest in the outcome of a project or a series of events. Includes employees, shareholders, users, customers, and any other group that can be identified.
Usage: The meeting to address the needs of the stakeholders identified all of the competing interests.
stakeholders
All of those who have an interest in the outcome of a project or a series of events. Includes employees, shareholders, users, customers, and any other group that can be identified.
Usage: The meeting to address the needs of the stakeholders identified all of the competing interests.
financial analysis
Evaluation and assessment of monetary resources associated with a business or a business opportunity.
Usage: The results of the financial analysis helped the manager understand how much money had to be spent and how long it might take for revenues to exceed costs.
financial analysis
Evaluation and assessment of monetary resources associated with a business or a business opportunity.
Usage: The results of the financial analysis helped the manager understand how much money had to be spent and how long it might take for revenues to exceed costs.