Archive for the ‘Original ExecuSpeak Term’ Category

Executive Dashboard

A reporting system that highlights business operations, usually using a graphic interface.

Usage: A balanced scorecard report frequently uses an executive dashboard format.

Owner’s Draw

Items of value, usually cash, that a business owner (sole proprietor or LLC) takes out of the business.

Usage: Personal charges on the business credit card are considered an owner’s draw.

Socialize

To gain acceptance for an idea or initiative by communicating with all of the individuals or organizations involved.

Usage: Let’s socialize this plan with the team before bringing it up in the meeting.

Fudge Factor

An undefined, possibly intangible, element in an equation, included to ensure the calculation makes sense in the real world.

Usage: The analyst used a fudge factor to make sure his arithmetic answer was consistent with the seasoned executive’s experience.

Black Box

Any computer or electronic equipment whose exact operation is unknown.

Usage: The computer geeks knew exactly what that thing was doing, but to the rest of us it was just a black box.

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.

Price

The amount a customer pays for a product.

Usage: The advertised price was frequently discounted.

C-Level

Business managers and executives with titles that being with the word Chief, such as Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Technology Officer (CTO), and Chief Information Officer (CIO).

Usage: The marketing program was designed to get the attention of C-level executives.

IASB

International Accounting Standards Board. An independent board of experts that develops International Financial Reporting Standards, which are used internationally.

Usage: The global economy has increased the importance of the IASB.

Market Share

The percent of the potential customers that are actually purchasing a specific product or service.

Usage: The product manager’s new marketing plan was designed to increase market share.

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