After all, if your company's IT department is not adding value, providing competitive advantages and enabling company employees to optimise their own job performance then what's the point? You should simply outsource an IT department which exists solely to 'keep the lights on'.
Now, you may be like me, in that you're a technical person and you've risen to the role of CIO or IT Manager and now find yourself spending more time on board reports than network analysis, more time on budgets than database tuning, more time on project planning than running your servers it's important you learn the lingo of the company executive.
This is similarly true for any other new manager who has come 'off the tools', so to speak, and gained their seat at the table via a combination of skill and experience and leadership rather than the alternate (and viable) route of a business or management background.
At the highest echelons a business boils down to numbers and the disciplined control of those numbers. Understanding these numbers and this jargon allows the IT leader to focus on them more easily, and to discuss them articulately and intelligently with superiors and colleagues alike.
The first thing you need to know is EBIT. This means simply 'Earnings Before Interest and Tax.'
EBIT is fundamentally the company's overall revenue minus operating expenses, excluding tax and income.
You might think this sounds like a no-brainer. After all, profit is revenue minus expenses, right? Well, yes, but the differentiating factor here is the 'before interest and tax'.