When a person at a company has the power to make decisions that affect a company's profit and loss (P&L) statement, without needing approval from other stakeholders. P&L authority is typically granted to executives and managers who are responsible for managing a specific department or business unit.
Example: The new CEO delegated P&L authority to his team of senior managers, empowering them to make strategic decisions that would impact the company's bottom line.
Variations: profit and loss authority
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Question: What does "Calendar Invite" mean?
(A) When a person wants to meet with you next week.
(B) An email sent to schedule a meeting with the option to either accept or decline the meeting at the scheduled time.
(C) When a person has available time on their calendar to meet with you.
(D) When a person does not have any time to meet with you.
Answer: Find out the right answer here.
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On this site, we also have templates on how to communicate effectively at work, such as requesting PTO, declining a promotion, and taking a sick day.
Date: 05/07/2024
Word: Close It Out
Definition: To mark something as completed.
Example: This task has been fixed, so let's close it out within the task tracker.
"P&L Authority." Jargonism.com Dictionary, https://jargonism.com/words/1806. Accessed 05/07/2024.