The act of having an excellent or magnificent beard. Anyone who has a huge unkepmt beard despite what fashion dictates is practicing bearded excellence. This also goes for ungangly mustaches and bushy mutton chop sideburns.
When a tech company outsources and offshores expensive jobs to a cheap 2nd or 3rd world labor location, they give that new place a lofty name, as if it's god's gift to their future success, while it generally displaces US or other western (expensive) workers.
They'll tradeone a $100k/yr Java coder stateside for a half dozen Sanjeev's in the Center of Excellence in Bangalore.
The Center of Excellence contributes directly to shareholder value, i.e. executive bonuses.
The Center of Excellence is in Bangalore. That makes Austin the Center of Expensive Mediocrity.