Renaissance for LEADERS

Peak Performance Resources for Leaders by Leaders

glossary (Page 1 of 39)

Aberration

1. A departure from what is normal or accepted as right. 2. A departure from rational thought or behavior. From the Latin, aberrare, to wander from; Latin, ab, away, errare, to wander. It means basically to err, to make mistakes, or more specifically to have fixed ideas which are not true.

Ability

1. The quality of being able to do something; physical, emotional, mental, financial or legal power to perform. 2. A natural or acquired skill or talent.

Accounting

The language of money, investing and business is the language of accounting, which is the systematic and comprehensive recording of financial transactions pertaining to a person, partnership or business. It includes the process of summarizing, analyzing and reporting these transactions to the persons managing the finances, as well as government and tax agencies. Accounting is one of the key functions of business and depending on the size and volume of transactions, it may be handled by a bookkeeper, accountant or teams of bookkeepers and accountants.

Acknowledgment

1. A means of recognizing someone’s or something’s presence or existence. 2. A response or answer letting someone or something know that you have received and understood their communication.

Action

1. The state or process of doing something. 2. A movement or series of movements.

Active Income

Income for which services have been performed. This includes wages, tips, salaries, commissions and income from businesses in which there is material participation.

Add Value

1. The difference between the price of a product or service and the cost of producing it. The price is determined by what customers are willing to pay based on their perceived value. Value is added or created in different ways. 2. The extra features of a product, service, or person that go beyond the standard expectations and provide something more, even if the cost is higher to the client or purchaser. Value-added features give companies a competitive edge and allow them to charge higher prices than their competitors.

Aesthetic

1. Concerned with beauty or the appreciation of beauty. 2. In accordance with the principles of good taste. 3. The philosophy of the beautiful, esp. in art.

Affinity

1. A natural attraction to a person or liking for something or someone. 2. A mutual attraction. 3. The degree of liking or affection; the feeling of love or liking for something or someone. 4. A willingness to share the same space or a desire to be close to something or someone.

Affluence

1. A plentiful supply of money, material goods, property; wealth, prosperity. 2. A great quantity; an abundance.

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