Archive for the ‘Word of the Day’ Category
A reporting system that highlights business operations, usually using a graphic interface.
Usage: A balanced scorecard report frequently uses an executive dashboard format.
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.
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.
Street used primarily by non-local traffic.
Usage: I-95 is a major highway.
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.
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.
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.
The amount a customer pays for a product.
Usage: The advertised price was frequently discounted.
A person 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.
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.