December 2011
31 posts
1 tag
Profit Center
A logical subdivision of the company that is responsible for both sales and costs. Compares to revenue center or cost center.
Usage: The analyst assumed that the Starbucks coffee shop was a profit center for the bookstore.
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Variance Analysis
A comparison of the difference between a budget (expectations) and actual results (what really happened), line by line and section by section.
Usage: A variance analysis seeks to determine whether dollar differences were a result of price changes, productivity changes, or both.
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Common Costs
General costs that cannot be traced directly to any division or department. Also called shared costs.
Usage: The executive director’s wages are a common cost.
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Gen Y
Also Generation Y. People born after Gen X, or between the late 1970s and 2000.
Usage: Gen Y workers never knew a time without cell phones or personal computers.
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Migration Strategy
The plan for moving from one software program to another. May also refer to moving from one system or product to another.
Usage: The team needed a migration strategy to move their customer base from a single product to a family of products.
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Synergy
The working together of two or more things, companies, processes, ideas, or people to create more than what might be expected.
Usage: Synergy is the intangible quality that makes two plus two equal five.
99 cents
For my Tumblr, Twitter, and Facebook fans only. ExecuSpeak Dictionary e-book is available for Kindle and Nook for 99 cents (US$ 0.99). This limited time offer expires on December 31, 2011. The links:
Kindle
Nook
1 tag
Ten Figures
A number in the low billions or x,xxx,xxx,xxx. Also referred to as ten digits.
Usage: The private company’s revenues were estimated to be in the low ten figures.
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GAAS
Generally Accepted Auditing Standards. Pronounced gass. Rules and standards of conduct, issued by the AICPA, that are associated with accounting audits and reviews.
Usage: Audits of the financial statements of US-based companies must comply with GAAS so that analysts know the audit was conducted fairly.
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Pareto's Law
Also known as the Rule of 80-20. Generalization that a greater percent is responsible for a smaller amount or that a smaller amount is responsible for a greater effect.
Usage: The classic example of Pareto’s Law is that 20% of the population has 80% of the wealth.
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Cross the Finish Line
Complete the race. Same as “cross the goal line.”
Usage: The sales team needed one more new customer to cross the finish line (#crossthefinishline) and win the sales contest.
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Jump the Gun
Act prematurely. From a horse racing reference to a horse starting to run before the starter gun goes off to indicate that the race has begun.
Usage: The intern jumped the gun (#jumpedthegun) by giving his project to the boss before letting his supervisor review the work.
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Synectics
A specific type of brainstorming with a focus on group dynamics.
Usage: The team wasn’t sure the #synectics session would help them agree on a plan of action.
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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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Transaction
An agreement between a buyer and a seller for the exchange of goods or services for payment. Also any interaction between a buyer and a seller.
Usage: A #transaction could be referring a friend, signing a petition, or making a sale.
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Telephone Focus Group
A facilitated discussion conducted by telephone (vs. face to face) with representatives of subject matter experts or the target market.
Usage: Since it was impossible to get the participants together, the marketing team held a telephone #focus group.
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B2C
Business to Consumer. Often-used abbreviation of the business model in which one company sells to consumers or individuals (as compared to B2B, selling to businesses).
Usage: The #B2C marketing program included television advertising.
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Values Statement
A listing of business values along with what they mean.
Usage: A good #values statement can be used to guide daily decision making.
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Acquisition
The purchase of one company or some of its divisions by another company.
Usage: The #acquisition of the small company was motivated by the larger company’s need for new products and services.
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Management Control
The words, actions, and policies of the management team that can affect events.
Usage: Weather events are outside of #management control.
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Undertaking
A subject or task that is large and complex.
Usage: Cleaning up the Gulf oil spill is a huge #undertaking.
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Valuation
Term used to describe the economic value of business— beyond its revenues and profits. Might be an estimate of what the business would be worth if sold.
Usage: Although revenues were $30M per year, the investment bankers determined that the business valuation was $60M.
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Wiki
A web site that allows collaboration and direct editing functionality to anyone with access.
Usage: The students used a #Wiki to write their team paper during Spring break when they weren’t on campus.
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Web 2.0
The second generation of the World Wide Web.
Usage: Web #2.0 technologies make it easier to create websites without special programming knowledge.
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Microblog
A series of postings, a blog, with short-form content.
Usage: Twitter is a #microblog that limits entries to 140 characters.
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Vested
Protected or established, as by law or right.
Usage: Some employees have to wait five years before their #pension benefit is vested.
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Geotagging
The practice of adding location-based information to tweets or photos so that mobile users can find businesses and photographers can specify the location of a photograph.
Usage: The #geotagging program added Google Map info, along with date and time, to the photos.
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1337
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.
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SEO
Search Engine Optimization. The process of building a website so that it ranks high in search engine results. Search engines include Google, Bing, Yahoo, etc.
Usage: SEO is important because many people never look at the second page of a Google search.
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EPS
Earnings Per Share. Net income less preferred dividends divided by the number of shares of outstanding stock. Also referred to as EPS.
Usage: The CEO’s bonus was based on growth in EPS.
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Vision Statement
A short, emotional description of an image of the future for the organization.
Usage: The vision statement helps employees understand where the company is headed.