ENGLISH WITH E.docx

8/14/2019 ENGLISH WITH E.docx

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GLOSSARY OF HUMAN RESOURCES TERMS

E-learning The delivery of formal and informal training andeducational materials, processesand programs via theuse of electronic media.

Ear ly retir ement plan A benefit plan offered by an organization providingincentives geared toward encouraging employees who are approaching retirement age tovoluntarily retire prior to their normal retirement age.

Early return to work programModified work programs designed to get employeeswho have been out of work due to injury or illness to return to the workforce sooner by

providing them with less strenuous alternative jobs until they are able to resume their fullregular duties.

EEO-1 category One of nine broad job categories used on the EEO-1Report. They are officials & managers, professionals, technicians, sales workers, office &clerical, craft workers, operatives, laborers and service workers.

EEOC guidel ines Interpretations of Title VII expressed by the EEOC that don't have theforce of law, but tend to be supported by the courts. These positions are outlinedin various EEOC publications ("Discrimination Because of Religion," etc.)

Eighty-percent ru leMethod of determining adverse impact. Selectionrates for any group that are less than 80 percent (fourfifths) of the rate for other groups is

evidence of a violation of this rule.

Electromation Used to refer to a NLRB ruling declaring that, in nonunion companies, labormanagement cooperation (i.e., quality circles, employee involvement programs, etc.) is illegal

because the committees through which such cooperation takes place are equal to a labororganization, as defined by the NLRA.

Electronic monitoring An employee surveillance practice where items suchas telephone calls or e-mail/Internet usage areobserved for general business, training or performance-related reasons.

Emergency planni ngThe process of establishing specific measures oractions to be taken when responding to catastrophic events or tragedies (i.e., fire, earthquake,severe storms, workplace violence, kidnapping, bomb threats, acts of terrorism or otheremergency situations) in the workplace.

Emotional in tell igenceDescribes the mental ability an individual possessesenabling him or her to be sensitive and understanding to the emotions of others, as well as tomanage his or her own emotions and impulses.

Employee assistance program

(EAP)


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A work-based intervention program designed to identify and assist employees in resolvingpersonal problems (i.e., marital, financial or emotionalproblems, family issues, substance/alcohol abuse) that may be adversely affecting theemployeesperformance.

Employee-dr iven idea systemA type of suggestion program where employees arerewarded for being ultimately responsible for the management and implementation of anyidea they submitted.

Employee engagementThe means of creating a work environment that empowers employeesto make decisions that affect their jobs. Also referred to as employee involvement.Further defined by the Corporate Leadership Councilin the in their 2004 study, DrivingPerformance and Retention Through Employee Engagement as theextent to whichemployees commit to something or someone in their organization, how hard they work,and how long they stay as a result of that commitment.

Employee handbookA written or electronic document containing summaries of theemployers policies and benefitsdesigned to familiarize employees with variousmatters affecting the employment relationship.

Employee leasing A staffing alternative whereby employers form a joint-employmentrelationship with a leasing agency or professional employer organization (PEO) thattakes on the responsibility for various HR-related functions, such as labor law compliance,compensation and benefits administration, recordkeeping, payroll and employment taxes.

Employee Polygraph Protection

Act of 1988

Prohibits most private employers from requiring employees or candidates for employment tosubmit to a lie detector test. The only time an employer may ask (but not require) anemployee to take a polygraph test is in the conduct of an ongoing investigation intotheft, embezzlement or a similar economic loss; or if the employee had access to property thatwas lost and the employer has a reasonable suspicion that the employee was involved.Employees who take a polygraph test may not be discharged or suffer anyother negative consequences solely on the basis of the test, without other supportingevidence. The Act strictly mandates how polygraph tests may beadministered and how the results are used.

Employee Retirement I ncomeSecur ity Act (ERI SA)of 1974

ERISA sets requirements for the provision and administration of employee benefit plans.Employee benefit plans include health care benefits, profit sharing and pension plans, forexample.

Employee referral programA recruiting strategy where current employees arerewarded for referring qualified candidates for employment.

Employee relationsA broad term used to refer to the general management and planning ofactivities related to developing, maintaining and improving employee relationships by

communicating with employees, processing grievances/disputes, etc.


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Employee retenti on Organizational policies and practices designed tomeet the diverse needsof employees and create an environment that encourages employees to remainemployed.

Employee self-serviceA trend in human resource management that allows employees tohandle many job-related tasks normally conducted by HR (such as benefits enrollment,

updating personal information and accessing company information) through the use of acompany's intranet, specialized kiosks or other Webbased applications.

Employee stock ownership plan

(ESOP)

A trust established by a corporation that operates as atax-qualified defined contribution retirement plan, butunlike traditional defined contribution plans,employer contributions are invested in the company'sstock.

Employee stock purchase plan An employer-sponsored plan that allows employeesto purchase company stock below the fair marketvalue.

Employer of choiceA term used to describe a public or private employerwhose practices, policies, benefits and overall workconditions have enabled it to successfully attract andretain talent because employees choose to work there.

Employment agencyAn organization that provides job placementassistance, either on a temporary or permanent basis,to individuals seeking employment opportunities.

Employment-at-will A legal doctrine that states that an employmentrelationship may be terminated by the employer oremployee at any time and for any or no reason.

Employment agreement/contr actA formal, legally binding agreement between anemployer and employee outlining terms ofemployment such as duration, compensation,

benefits, etc.

Employment branding A combination of marketing, communication andtechnology used by an organization intended to giveit greater visibility amongst a large population withina short timeframe.

Employment cost i ndexConducted annually as part of the Department ofLabors National Compensation Survey program, theEmployment Cost Index measures the relativechanges in wages, benefits and bonuses for a specificgroup of occupations.


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Employment displacementOccurs when an employee is terminated as a result of positionelimination.

Employment practices l iabi li ty

Audit An assessment of an employers current policies andpractices to determine potential

areas of liability (i.e.,discrimination, wrongful discharge and otherviolations of employee rights) typically conducted by an outside consulting or legal firm.

Employment practices l iabi li ty

insurance (EPLI )

An insurance plan that provides employers with protection against claims of discrimination,wrongful termination, sexual harassment or other employ men related issues made byemployees, former employees or potential employees.

Employment tortsThe grounds on which a lawsuit is based, such as wrongful discharge,

negligence or invasion of privacy.

Employment visasAn immigration-issued document that allows aliens to obtain temporaryresidency for the purpose of pursuing employment opportunities within the United States.

Employer Under EEOC Policy Guidelines, a person or persons engaging in an industryaffecting commerce who has 15 or more employees for each working day in eachof the 20 or more weeks in the preceding year or any agent thereof. Includes state and localgovernments, any federal agency subject to the provisions ofSection 717 of the Civil Rights Act of 1964, as amended. Also includes any federalcontractor or subcontractor or federally assisted constructioncontractor covered by Executive Order 11246, as amended.

Employer information report

EEO-1

Also known as Standard Form 100, this annual report shows the representation of female andminority employees in an employer's total workforce as well as in standard job groupings(i.e., officials and managers, professionals, etc.). This report must be filed each year by anyemployer with 100 or more employees (50 or more for government contractors).

Employment practiceAny recruitment, hiring, selection practice, transfer or

promotion policy, or any benefit provision or other function of the employer's employmentprocess that operates as an analysis or screening device.

Empowerment Enabling an individual to have responsibility, controland decision-making authority over the work he or she performs.

English-only rulesAn employer policy or work rule that requiresemployees to only speak in the English language at all times while on the job or in theworkplace.

English as a second language(ESL)


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English language training provided to individuals who do not speak English as their primarylanguage.

Environmental Scanni ngA process that systematically surveys and interpretsrelevant data to identify external opportunities and threats.

Equal employment opportun ity(EEO)

A policy statement that equal consideration for a job is applicable to all individuals and thatthe employer does not discriminate based on race, color, religion,age, marital status, national origin, disability or sex.

Equal opportun ity clauseThe seven subparagraphs in Section 202 of ExecutiveOrder 11246, as amended. These paragraphs are required to be part of all contracts covered

by the executive order.

Equal Employment Opportuni tyCommission (EEOC)

The federal agency responsible for publishing guidelines, enforcing EEO laws andinvestigating complaints of job discrimination based on race, color,religion, sex (including

pregnancy), national origin, age or disability.

Equal opportun ity sur veyThis report is sent to a substantial portion of all nonconstructioncontractors each year. It requires them to provide to the OFCCP information regardingapplicants, hires, promotions, terminations, compensation and tenure by race and gender.

Nonconstruction contracts can expect to receive and complete this report every other year.

Equal Pay Act of 1963A federal law prohibiting employers from discriminating betweenmale employees and female employees in terms of pay when they are performing

jobs that are essentially the same or of comparable worth.

Equal Treatment A legal doctrine used in discharge cases to determinewhether an employers policies and practices areapplied in a fair, consistent and non-discriminatory manner.

Equivalent position According to section 825.215 of the FMLA regulations, an equivalentposition is one that is virtually identical to the employee's former position in terms of pay,

benefits and working conditions, including privileges, perquisites and status. It must involvethe same or substantially similar duties and responsibilities, which must entail substantiallyequivalent skill, responsibility and authority.

Ergonomics The design of the equipment, furniture, machinery or tools used in theworkplace that promotes safety, efficiency and productivity and reduces discomfortand fatigue.

Er ror of central tendencyA rating error occurring when the rater displays a propensity toassign only average ratings to all individuals being rated.

Error of contrast An error occurring when raters assign ratings based on comparisonsbetween individuals being rated


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instead of using previously established organizational standards.

Err or of halo A rating error occurring when the rater assigns a rating based on individualspositive or negative characteristics.

Er ror of inconsistencyOccurs when no established organizational standardsfor rating an individual exist, and raters use different strategies for assigning ratings.

Error of projection An error in rating, which occurs when raters areinclined to allow their own personal characteristics or values to affect the ratings they assign.

Er ror of recencyOccurs when raters assign a rating based on the individuals short-termversus long-term job performance.

Er ror of standardsOccurs when a rating is assigned based on impracticable standardsestablished by the rater.

Er rors and omissions insuranceAn insurance policy providing businesses withcoverage and protection against potential lawsuits from clients or customers.

Essay appraisal An appraisal strategy requiring the rater to provide a narrative description ofan individuals performancebased on the raters performance observations.

Essenti al functionsThe primary job functions or tasks that an individualmust be able to perform with or without a reasonable accommodation.

Ethi cal Leadership Broadly defined, as the demonstration of normatively appropriateconduct through personal actions and interpersonal relationships, and promotion of suchconduct among followers through two-way communication, reinforcement, and decision-makingprocesses (M.E Brown and L.K. Trevino,Measures

for Leadership Development Ethical Leadership Scale)

Ethics A philosophy principle concerned with opinions about appropriate and inappropriatemoral conduct or behavior by an individual or social group.

Ethni c categoriesA grouping of individuals who are of the following decent: AmericanIndian or Alaska Native; Asian; Black or African American; Native Hawaiian or

Other Pacific Islander; and White.

Executive A term used to define the highest-ranking individual or group of individualsreporting to a board of directors who have managerial or administrativeauthority for the business operations of the entire organization, business unit, or function.

Executi ve compensation Compensation packages specifically designed for executive-levelemployees that include items such as base salary, bonuses, perquisites and other personal

benefits, stock options and other relatedcompensation and benefit provisions.

Executi ve developmentTraining and educational programs designed to increase performance

and further the development of leadership skills for executive and senior-levelmanagerial employees.


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Executive Order An official presidential directive that has the sameforce as a law.

Executive Order 11246 of 1965Administered and enforced by the Office of Federal

Contract Compliance Programs (OFCCP), Executive Order 11246 prohibits federalcontractors and federally-assisted construction contractors and subcontractors, who do over$10,000 in governmentbusiness in one year, from discriminating in employment decisions onthe basis of race, color, religion, sex or national origin. The Executive Orderalso requires government contractors to take affirmative action to ensure that equalopportunity is provided in all aspects of their employment.

Executive outplacementA program designed to provide displaced senior-levelmanagerial and professional employees with career management and transition services thatgo above and beyond what is typically offered through a customary outplacement program.

Executive retreat A team building and development approach designed for executive-levelmanagers; conducted off-site and typically lasts from a few days to a week.

Executive search f irm An agency or organization used by employers to assist them with theselection and placement of candidates for senior-level managerial or professional positions.

Exempt employeesEmployees who meet one of the FLSA exemption tests and who are paidon a fixed salary basis and not entitled to overtime.

Exi t interview An interview conducted at the time of an employeesresignation, used toidentify the underlying factorbehind an employees decision to leave.

Expatriate An employee who is transferred to work abroad on a long-term job assignment.

Expectancy theory A motivational theory concluding that individuals feel a sense of pleasureand gratification when they have completed a challenging task and therefore aregenerally more motivated.

Expedited arbi trationA dispute resolution method used by the AmericanArbitration Association to resolve cases in

accordance with a prescribed set of guidelines.

External benchmark ingThe process of comparing an organizations currentpolicies and practices to that of a competitororganization(s) to determine current and future trendsin areas of employment and business practice (i.e.,compensation, benefits, HR practices).

Extr in sic motivator Organizationally controlled incentives, such as pay,benefits, incentives, achievement awards, etc., usedto reinforce motivation and increase performance.


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Extr in sic reward Work-related rewards that have a measurablemonetary value, unlikeintrinsic rewards, such as praise or satisfaction in a job well done.


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GLOSSARY OF MARKETING TERMS

Environment, external The complex set of physical and social stimuli in the externalworld of consumers.

Environmental analysis Gathering data regarding political, cultural, social,

demographic,economic, legal, international and ecological forces , identifying trends

affecting agency.

Environmental monitoring Keeping track of a changes in the environment.

Erratic demand A pattern of demand for a product that is varied and unpredictable, e.g.,some best sellers, or specific online databases randomly assigned in curriculum by teachers.

Eked set A set of alternatives that are activated directly from memory--certain

brandsconsidered during the buying process.

Exchange All activities associated with receiving something from someone by

givingsomething voluntarily in return. This is the heart of the marketing process . A library

user gives time instead of money to borrow materials, but it is still an exchange.

Exhibit The gathering and displaying of products, people, or information at a central location

for viewing by a diverse audience. Most libraries have exhibits created by staff, community

or other stakeholders.

Experience survey A series of interviews with people knowledgeable about the general

subject being investigated.

Exploratory research A research design in which the major emphasis is on gaining ideas

and insights.

External data Data that originate outside the organization for which research is being done.

Eactor analysis A body of statistical techniques concerned with study of

interrelationshipsamong a certain set of variables--none of which is given the special status of

a criterion variable.

Economic environmentPart of the macro environment encompassing wealth, income,

productivity, inflation, credit, employment, etc. which affect the agency/librarys markets and

opportunities. eighty-twenty principle The situation in which a disproportionately small

number (e.g., 20%) of staff, products or users generate a disproportionately large amount

(e.g., 80%) of a firms use/profits. A use analysis should be conducted to determine what the

cause is.


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ElasticityThe degree that an economic variable changes in response to a change in another

economic variable. For example, how much library use changes according to how far an

individual must travel for library services.

Environment, external The complex set of physical and social stimuli in the external world

of consumers.

Environmental analysisGathering data regarding political, cultural, social, demographic,

economic, legal, international and ecological forces , identifying trends affecting agency.

environmental monitoring Keeping track of a changes in the environment.

Erraticdemand A pattern of demand for a product that is varied and unpredictable, e.g.,

some best sellers, or specific online databases randomly assigned in curriculum by teachers.

Evokedset A set of alternatives that are activated directly from memory--certain brands

considered during the buying process.

ExchangeAll activities associated with receiving something from someone by giving

something voluntarily in return. This is the heart of the marketing process. A library user

gives time instead of money to borrow materials, but it is still an exchange.

ExhibitThe gathering and displaying of products, people, or information at a central

location for viewing by a diverse audience. Most libraries have exhibits created by staff,community or other stakeholders.

Experience surveyA series of interviews with people knowledgeable about the general

subject being investigated.

Exploratory researchA research design in which the major emphasis is on gaining ideas

and insights.

External dataData that originate outside the organization for which research is being done.

EarpiecesSmall advertising spaces on the front page of a newspaper, positioned either sideof the main masthead. Mostly used in broadsheets (qv). They function usefullyas reminders, and make offers which can be taken up immediately by using ahighlighted telephone number, e-mail or Web site address.

E-commerceElectronic commerce. Business transactions carried out via the Internet, usingsoftware that automates them. Typical of e-commerce activity is electronicshopping, including product selection, purchase, invoicing and payment. Financialtransactions are made by credit card, for which a high level of security is necessary.


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Economic life The viable or profitable working life of a product, usually one of high unitcost, or a piece of capital or production equipment. Such equipment arrives at a pointin time when it is no longer economically viable. Conditions for this can vary fromunusually heavy maintenance costs and high cost of component replacement, tohigh insurance premiums; all of which can provide reasons for replacement. The

cost of running equipment at the end of its economic life may be reflected in theprice of the end-product.

Economic order level

The point at which orders for the supply of a product for production, processing orre-sale is economically viable, and can produce a worthwhile profit for the supplier.

Economic pricingThe price of a product arrived at through taking into account every direct andindirect cost. This includes costs involved in conceiving it, designing, prototyping,manufacturing, warehousing, selling and distributing it. Also includes marketing

activities and their administration; marketing communications such as advertising,packaging, public relations, sales promotion and after-sales service. All of which,of course, must be anticipated and planned for. A similar regime must be adoptedwhen marketing a service.

Economies of scaleA costing system based on the optimistic marketing philosophy that the more you

buy of a product, the less it should cost. This usually works in practice, sincemarket forces can compel a manufacturer to reduce the unit price of a product ona sliding scale. It depends on how much you buy at a particular time. Ideally, anysavings made on these deals are passed on to the consumer, wholly or in part,through the distribution chain. In the world of aggressively competitive marketing,this usually happens. Sometimes it does not, and one of the companies in the chainkeeps the savings. This may be legal, but it is certainly not noble. As it is said, inthis life you do not get what you deserve; you get what you negotiate. The true

price of consumer goods can be estimated when the retailing companies declaretheir seasonal sales.

Economy sizeAn extra-large pack created for the purpose of stimulating or increasing demandfor a product. The price of the pack is often pitched at that normally paid for a

standard pack; or slightly higher. This is usually a temporary measure, sometimesalso regional, where the brand is under competitive assault.

ECUExtreme close-up. An instruction within a script. When you can see the individualhairs of an actors eyelashes, its an ECU.

EditingMaking changes to a piece of copy, augmenting, improving or condensing it;

preparing it for press. In unskilled hands, this often means also mutilating it in theprocess. The term also includes adapting a piece of copy for different media. News

releases often need considerable editing before appearing in a newspaper ormagazine. Copy written for newspaper or house magazine editorial use would


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need to be completely rewritten for an advertisement or a piece of print on the sametheme.

EditingAssembling and collating film or video material, manipulating, pacing and shaping

it to create a finished presentation. This includes arranging the length of shots andcutting them precisely, so that the finished result portrays the facts and spirit ofthe script. The editor uses a high order of skill, experience and judgement incontrolling the length and pace of each shot and scene, so that the finished filmflows seamlessly from beginning to end. The editor strives to produce impact andrhythm not explicit in the written word or immediately apparent in the first printsor rushes.

EditionA specific issue of a publication, distributed at a specified place and time. The placeand time are usually displayed on the front page, and generally also throughout

the publication. For example, an edition of theLondon Evening Standard displaysits date, time, edition, serial number and price on its front page. There is also acodeword for the time of day it is issued; for example, Mid-day, or Final. Inside

pages carry a running head showing the name of the publication, and pagenumbers.Radio Timespublishes a number of regional editions, each displayingthe name of the region alongside the information already mentioned.

Editor A professional responsible for preparing the work of others for publication orbroadcasting. In press media, the editor has total responsibility for what ispublished; plus many other responsibilities such as hiring and firing.

EditorThe professional responsible for collating filmed material, shaping it to form a

presentation that portrays the facts and spirit of the script. Her skill in arrangingthe length of shots and precise cuts can produce impact, pace and rhythm notexplicit in the script, or immediately apparent in the first prints.

EditorialThe text of a newspaper or magazine, news, features and comment, created and

produced by its journalists. The term is sometimes used to describe leading articleswritten by the editor and her team, covering and commenting on major issues of

the moment. The non-advertising content on television is usually referred to asprogramming.

Editorial advertisingAdvertising written and designed to resemble editorial. Also termed advertisement

promotions or advertorials. This is an effective marketing technique, especiallywhen the advertorial is in the style of the publication in which it appears. Thereare certain rules governing this type of advertising. In particular, the British Codesof Advertising and Sales Promotion (BCASP) stipulate that advertorials should bedesigned and presented in such a way that it is clear that they are advertisements.The words Advertisement Feature, or Advertisement must appear at the head

of the presentation. When considering creating an advertisement in the editorial


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style of a publication, it is prudent to get permission or approval from the editor; better still,get the advertisement director to get it for you.

E-mailShorthand for electronic mail: communication of messages and computer files

between individual users computers on the Internet, via an independent centralcomputera server. While e-mail is no real substitute for letters and conventionalcorrespondence, it has several characteristics specific to the computer age:

_ It is immediate; though delays are frequent, often because of equipmentproblems.

_ One message can be distributed to a large number of destinations at the sametime. This facility is used constantly by companies engaged in the distributionof news releases._ The medium encourages brevity; conventionally, e-mail messages are short andto the point.

_ More complicated and sophisticated material, including graphics, can beelectronically attached to it._ It can be replied to, and the reply received, almost at once, which helps fastdecision-making.There is a downside to the speed made possible by e-mail; you can receivehundreds of e-mails every day, all of which may need to be considered and actedon. Parkinsons Law definitely rules here (the notion that work expands so as tofill the time available for its completion).

EmbargoA time constraint on the publication of information made available in a newsrelease. In fact, it is more of a request by the organization issuing the release, thanan order to be obeyed. An editor is not obliged to respect the request. But if hedoes not, he is unlikely to receive important news from the organization in future,

possibly robbing him of a good and timely story. It is a matter of good relationshipsbetween an organization and its media contacts. The embargo consists of theword Embargo, or Embargoed until. . . plus a date and time, printed at the topof a news release. It appears before the heading, in a position that cannot beoverlooked.

Embargo A ban on goods being imported into a country; often for political reasons, or for

the protection of that countrys own products and industries. This usually amountsto the same thing. Embargoes can be initiated by governments of importingcountries, or by those whose companies are doing the exporting.

Embossed finishPaper with a raised or depressed surface resembling cloth, wood, leather or othertextures.

Embossing t

Impressing an image into paper or board from the back, to raise the images surface. The raised image is printed. Where the raised impression is unprinted, this

is termed blind embossing.


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Em dashA long printed dash, the width of an em. Do not confuse this with the hyphen,which is shorter and has a different semantic function.

Emotional appeal

The basis of an advertising message having strong emotional character. Fundraisingadvertising run by charitable organizations is often like this. Emotionalappeals are often mixed with factual, logical and rational arguments, to make themmore effective.

Emulsion sideThe side of a film coated with silver halide emulsion. This should face the lensduring exposure.

Emulsion sideIn plate-making practice, the side of a film in intimate contact with the plate.

Publications accepting film rather than artwork may specify either right readingemulsion side down, or right reading emulsion side up, depending on theirindividual plate-making and production requirements. This means that, in bothcases, the copy reproduces correctly on the press.

EnclosureAn additional item enclosed as part of a mailshot. This may be a piece of printsuch as a brochure or reply card, a photoprint, a product sample or some otherobject in the envelope, in support of the main promotional item. The main item isoften a sales letter.

EncodingCharacters printed using ink containing iron, which can be recognized by magneticink character recognition systems (MICR). This is found on cheques (bank checks)and other security documents, and often on reply cards enclosed in mailshots,using the characters for keying.

EndorsementA statement by a personality or celebrity, showing a preference for a product or

service being advertised or promoted. In press advertising and print, the endorsingcelebrity is usually shown and named. In television advertising, the endorser isoften the main presenter, sometimes actually speaking the promotional copy, eitherto camera or as a voice-over. It follows that an endorsing celebrity should beknown to the target audience, or at least famous for some activity connected withthe product. Bear in mind that today, even with virtual saturation of news andgossip by the media, some members of the public may not recognize your endorser.

End userThe actual user of a product, as distinct from its purchaser or specifier. A computersystem, for example, may be recommended or specified by a creative manager,

approved by a managing director, signed off by an office manager and paid for bya finance director. When the machine arrives on your desk and you switch it on,


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you are the end user. Some markets are not nearly as straightforward as this. Thepharmaceutical market, for example, is particularly complex. As a patient, you arethe end user of a medicine, but you dont specify, approve or purchase it. The

pharmacist stocks the product, but has no choice as to its distribution. The doctordoes specify the product, but neither handles nor sells it. It follows that careful

marketing planning is called for here, especially as far as the promotional messageis concerned. Markets for products aimed at children are complicated, but in adifferent way. The child is the end user, and often specifies the product. The parentexamines the product, determines its suitability, sometimes consults another

parent, approves and pays.

EnlargementPopularly referred to as a blow-up. A print made from a negative, blown up to anunusually large size.

Enterprise zone

A piece of land or real estate dedicated to the setting up and development ofbusinesses. In the European Union, conditions applying to such zones are preferential,offered to entrepreneurs as inducements to transfer to the areas. Theinducements include tax breaks, inexpensive or interest-free loans and otherfinancial assistance, professional advice and business counselling. In the UK, suchinducements come from local and national government, and from the EuropeanUnion.

Equilibrium price

The price of a product arrived at when the demand for the product is the same asits supply. This does not usually last for long, and the price rises or falls in linewith movement in the marketplace.

Escalator cards On the London Underground and urban rail transportation systemsthroughoutEurope, small advertising posters displayed on the walls of its escalators (movingstairs).

EspartoA printing and writing paper made from, or containing substantial quantities of,esparto grass. This is a long-fibre material, giving excellent bulk to the paper, and

a satisfying crackle.

Established brandA brand well enough known in its markets, and often elsewhere, that constantintroduction and explanation is unnecessary. The best current examples includeCoke, Pepsi, the BBC, CNN, Microsoft, Virgin, Jaguar, Rolls-Royce and Toyota.

EstimateThe costing of a job, prepared in advance by a printer, production house, advertisingagency, photographer or other supplier. Estimates are not normally binding;in the UK, quotations are, so be careful.

E-tailing


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Electronic retailing. Retail transactions carried out via the Internet, using softwarethat automates them. Typical e-commerce activities include electronic shopping,

product selection, purchase, invoicing and payment. Financial transactions aremade by credit card, store or debit card, for which a high level of security isnecessary. Efficient though e-tailing may be, the downside is the physical delivery

of the goods, which might not be as efficient.

EtchingProducing an image on a printing plate by chemical or electrolytic action.

Ethernet A proprietary local area network, together with its products and technicalspecifications. It was designed in collaboration with the Digital Equipment Corporationand Intel.

Ethical advertisingAdvertising by suppliers of medicines and other treatments prescribed exclusively

by qualified medical practitioners. Such advertising is not aimed at the generalpublic, but at clinicians, doctors and pharmacists. Pharmaceutical productsmarketed to the public are termed proprietaries. Both types of advertising aresubject to their own licensing terms and codes of practice.

EurodollarThe US dollar is described in this way when held by banks in Europe, or byEuropean companies, or when used as a trading currency in Europe.

Excess demandA market condition in which demand for a product exceeds the ability of suppliersto produce it. In this climate, prices tend to rise.

Excess supplyThe reverse market condition to excess demand, in which prices tend to fall.

Exchange rateThe level of value at which one countrys currency can be exchanged for another.In todays volatile markets for currency and equities, the rate changes virtually every day. In the 1980s, the pound sterling hovered very narrowly around $2.40.At the time of writing this edition, it varies from $1.60 to $1.40. Some years ago,

the value of the pound fell almost to a dollar. Vast fortunes have been made, andstill can be made, from cashing in on the difference between exchange rates.

Exclusive A major news story or interview, offered exclusively to, or acquired exclusivelyby, a newspaper, magazine, television or radio station, is termed an exclusive.Among journalists this is also referred to as a scoop, especially where a newspaperor broadcast channel gets an exclusive after having pursued it aggressively. Theterms apply also to photographic material.

ExhibitionA venue at which products and services or works of art are put on show, either for

business transactions or inspection and enjoyment. They are popularly referred toas shows; in the USA, expositions.


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Exhibitions vary greatly, both in size and content. Mini-exhibitions, usuallylocal or regional, are aimed at local business, trade and technical audiences. Theyare organized by companies specializing in such activities, and feature a smallnumber of related exhibitors. Each exhibitor sends invitations to its customers,clients and prospects, together with free tickets; or gets the organizer to do it.

Manufacturers, distributors and service suppliers often organize their own privatemini-exhibitions, sending invitations to a highly focused list. At the other end ofthe scale, there are huge trade exhibitions, such as Hanover; and the Farnboroughand Paris air shows. In the UK, exhibitions aimed at the general public includethe Ideal Home Exhibition and the Motor Show.

Expanded A type of a width greater than regular, standard or normal.

Expense-to-profit ratioThe ratio of a companys expenditure on marketing operations to its profits fromthem.

Expense-to-sales ratioMarketing planning

The ratio of marketing expenditure to revenue from sales. This is one of acompanys financial measures for controlling its expenditure, aimed at achievingmaximum profit from marketing operations. It also needs to employ techniquesfor calculating its expense-to-profit ratio.

Exploded viewAn illustration of an object, such as a piece of equipment, showing how itscomponents relate to each other. The illustration is complete in itself, and in proper

perspective, showing its components separated, usually floating, or with sectionscut away to show what is underneath.

ExposureThe amount of time to which readers, viewers and listeners are given opportunitiesto see and hear advertising, editorial and other messages. As an example, in theUK the Radio Authority has a number of standards for measuring audienceexposure:

_ weekly reach the number in thousands or as a percentage of the UK/area adultpopulation who listen to a station for at least five minutes in the course of anaverage week;

_ average hours

the total hours of listening to a station during the course of aweek:per head, across the total adult population of the UK/area;per listener, across all those listening to the station for at least five minutes;_ total hoursthe overall number of hours of adult listening to a station in theUK/area in an average week;

_share of listeningthe percentage of total listening time accounted for by astation in the UK/area in an average week.

ExposureIn photographic processes, the step during which light produces an image on a

light-sensitive coating. The term also refers to the amount of light allowed to reachthe sensitive material.


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Extended wider version of a roman or standard typeface. Also termed expanded.

Extended guarantee

An extra guarantee period, usually paid for by the customer, during which theterms of the original guarantee are honoured and can be enforced. If a customerwants an extended guarantee, the extension is usually added to the original at thetime of purchase.

ExtranetAn internal network available to specified external users. Extranets are usedmainly for teleworking and data exchange among different organizations that wishto keep the content private among members of the network. They also enable staffworking away from the office to keep in touch with it and with each other. Inmarketing communications, extranets exist between advertisers and suppliers such

as printers and research organizations, where the frequency and density of thetraffic justifies the expense. Since extranets are essentially intranets connected tothe public Internet, security measures are essential for protection against hackersand unauthorized users.

Ex-worksThe condition or status of a product as it leaves the factory. The ex-works price ofa product is its basic price to customers, before distribution costs have been added.Other costs usually added include packaging, bulk crating, warehousing andinsurance.

Eye-movement research Laboratory techniques for determining the way readers look atnewspaper and magazine pages, particularly advertising material. The reader taking part inthetests is seated in front of a page of advertising. A special camera records the amountof time the reader spends looking at various elements on the page, and thesequence in which this happens. The main problem with this research lies in theanalysis and interpretation of the findings, and their subsequent application toadvertisement design.

E-zineAn electronically distributed magazine. A magazine created and produced electronically,

and distributed via the Internet or corporate intranet. Many housejournals are produced and distributed in this way. The main advantages includefast distribution speed at low cost or virtually no cost; and that no printer isinvolved. Many company e-zines are produced in-house, either by company

personnel or by outside specialists.


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GLOSSARY OF FINANCIAL TERMS

Equipment trust certificateA type of security, generally issued by a railroad, to

pay for new equipment. Title to the equipment, such as a locomotive, is held by a

trustee until the notes are paid off. An equipment trust certificate is usually securedby a first claim on the equipment.

Ex-dividendA synonym for "without dividend." The buyer of a stock selling ex-

dividend does not receive the recently declared dividend. When stocks go ex-

dividend, the stock tables include the symbol "x" following the name.

Ex-rightsWithout the rights. Corporations raising additional money may do so by

offering their stockholders the right to subscribe to new or additional stock, usually at

a discount from the prevailing market price. The buyer of a stock selling ex-rights is

not entitled to the rights.

Extra The short form of "extra dividend." A dividend in the form of stock or cash in

addition to the regular or usual dividend the company has been paying

Earnings reportA statement, also called an income statement, issued by acompany showing its earnings or losses over a given period. The earnings reportlists the income earned, expenses and the net result. (See: Balance sheet)

Earnings the profits of a company over a specified period of time usually after tax.

Earnings Yield earnings per share (net of tax) as a percentage of the share price.

Efficient Market Hypothesis (EMH) a theory that says security prices reflect allavailable information thus making it difficult for investors to make abnormal returns.

Emerging Market the market of a country which is experiencing rapid economicgrowth but whose income per capita usually makes it a low to middle incomeeconomy.

Equity shares which represent ownership of a company. Equity holders mayreceive dividends and will make or lose money if the shares appreciate or depreciatein value.

Equity Risk Premium the expected excess return above the risk-free rate ofinterest which is required to compensate for the riskiness of investing in shares.

EUREX the European Exchange which is a merger of the German DTB exchangeand the Swiss SOFFEX exchange.

Euro Libor the London interbank offer (lending) interest rate on the Euro.

Eurobond a bond denominated in a different currency to the country of issue, e.g. adollar bond issued in London is a dollar denominated Eurobond.


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Eurocurrency a short term deposit/loan made outside of the country of thatcurrency, for example, a 3 month yen deposit/loan made in London.

Eurodollar a short term deposit or loan made in dollars outside the United States.

Eurobank a bank that specializes in making short-term deposits and loans in avariety of foreign currencies.

European Option an option that can only be exercised upon maturity.

Exchange Rate the rate at which one currency can be exchanged for another.

Exercise Price the price at which an option may be exercised. Also known as thestrike price.

Exotic Option an option which has special features compared to standard put/calloptions.

Extraordinary items Unusual transactions showing up on a company's financialstatement that will not recur every year. Extraordinary items may be restructuring,the writing off of losses due to changes in valuation methods,settlementof lawsuits,exceptionally high profit or loss from foreign exchange, or similar transactions notcommon for the company.

EBITDAis a contraction of the term Earnings BeforeInterest,Taxes,Depreciation,andAmortization.It is a commonly-used formuladesigned to reveal the approximate operational results of a business on acash flow basis

Equity - Residual INTEREST in the ASSETS of an entity that remains afterdeducting its LIABILITIES. Also, the amount of a business' total assets less total

liabilities. Also, the third section of a BALANCE SHEET, the other two being assetsand liabilities.

Equity Account- ACCOUNT in the EQUITY section of the BALANCE SHEET.Includes CAPITAL STOCK, ADDITIONAL PAID IN CAPITAL and RETAINEDEARNINGS. Equity Method of Accounting - Investors cost basis is adjusted up ordown (in proportion to the % of stock ownership) as the investee's retained earningsfluctuation; used for long-term investments in equity securities of affiliate whereholder can exert significant influence; 20% ownership or greater is arbitrarilypresumed to have significant influence over the investee.

Equity Securities- CAPITAL STOCK and other SECURITIES that representownership shares, or the legal rights to purchase or acquire CAPITAL STOCK.
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Error- Act that departs from what should be done; imprudent deviation,unintentional mistake or omission.

Escrow - Money or property put into the custody of a third party for delivery to a

GRANTEE, only after fulfillment of specified conditions.

ESOP- See EMPLOYEE STOCK OWNERSHIP PLAN.

Estate Tax- Tax on the value of a DECENDENT'S taxable estate, typically definedas the decedent's ASSETS less LIABILITIES and certain expenses which mayinclude funeral and administrative expenses.

Estimated Tax- Amount of tax LIABILITY a taxpayer may expect to pay for thecurrent tax period. Usually paid through quarterly installments.

Estimation Transactions- Activities that involve management judgments orassumptions in formulating account balances in the absence of a precise means ofmeasurement.

Evidential Matter- Underlying ACCOUNTING data and other corroboratinginformation that support the FINANCIAL STATEMENTS. 22

Exchanges- Transfer of money, property or services in exchange for anycombination of these items.

Excise Tax- Tax or duty on the manufacture, sale, or consumption of commodities.

Excluded Income- See EXCLUSIONS.

Exclusions- Income item which is excluded from a taxpayer's gross income by theINTERNAL REVENUE CODE or an administrative action. Common exclusionsinclude gifts, inheritances, and death proceeds paid under a life insurance contract.Also known as excluded income.

Executor - Person appointed by a will to manage a DECENDENT'S estate.

Exempt Organization- Organization which is generally exempt from paying federalincome tax. Exempt organizations include religious organizations, charitableorganizations, social clubs, and others.

Exemption- Amount of a taxpayer's income that is not subject to tax. All individuals,TRUSTS, and estates qualify for an exemption unless they are claimed as adependent on another individual's tax return. Exemptions also are granted totaxpayers for theirdependents.

Expatriation Tax- Individuals that loose or terminate their residency within the 10year period immediately preceding the close of a tax year, if the termination or loss

is for the sole purpose of avoiding tax.


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Expectation Gap- The difference in perception between the public and the CPA asa result ofaccounting and audit service.

Expenditure- Payment, either in cash, by assuming a LIABILITY, or bysurrendering ASSET.

Experienced Auditor- An AUDITOR that has a reasonable understanding of auditactivities and has studied the company's industry as well as the accounting andauditing issues relevant to the industry.

Exploration Expenditures - Unlimited deductions are allowed for a taxpayer'sexpenses incurred while searching for any ore or mineral deposit (except oil or gas).

Exposure Draft- Document issued by the AMERICAN INSTITUTE OF CERTIFIED

PUBLIC ACCOUNTANTS (AICPA), FINANCIAL ACCOUNTING STANDARDSBOARD (FASB), GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB)or other standards setting authorities to invite public comment before a finalpronouncement is issued.

Extension- Time granted by a taxing authority, such as the INTERNAL REVENUESERVICE (IRS), a state or city, which allows the taxpayer to file tax returns later thanthe original due date.

Extent of Tests of Control- Each year the AUDITOR must obtain sufficientevidence about whether the company's internal control over financial reporting,including the controls for all internal control components, is operating effectively.External Reporting - Reporting to stockholders and the public, as opposed to internalreporting for management's benefit.

Extinguishment of Debt- To get rid of the liability by payment; to bring to an end.Extraordinary Items- Events and transactions distinguished by their unusual natureand by the infrequency of their occurrence. Extraordinary items are reportedseparately, less applicable income taxes, in the entity's statement of income oroperations.

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