VOSB. A small business that is at least 51% owned and generally managed by a qualified veteran.
Usage: Veteran Owned Small Businesses are encouraged to bid on government contracts.
The ability to rapidly increase, or decrease, the level of sales, production, or volume.
Usage: It is important to consider scalability when developing a new business.
A concise review of a longer document. Generally appears at the beginning of that longer document but frequently gets separated from it. Sometimes abbreviated as ExecSum.
Usage: Sometimes the executive summary is all that anyone will read. That’s why it’s so important.
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.
Slang term for a brainy newcomer or a super-smart and educated individual.
Usage: You don’t need to be a rocket scientist to learn how to conserve energy.
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.
Area or structure for the parking of motor vehicles.
Usage: The carport at the rear of the house provides convenient off-street parking.
Describing business activity that takes place in the country in which the business resides. Opposite of foreign.
Usage: An international corporation will make a distinction between domestic and foreign markets.
A subject or a situation that needs to be investigated or resolved.
Usage: While some thought the issue might become a problem, others thought that the investigation would prove that everything was just fine.
Application Program Interface. Interface that allows software programs to interact. Not to be confused with UPI or AP, which are news organizations.
Usage: Programmers are able to program company specific applications once the API is published.