When you assigned a text on either Data or Layout View and there is a light blue color around the text with dash line. What do you call that ?
Here is the picture screenshot.
It looks like it is just showing you what graphical feature is selected.
EDIT: ...or what Dave said!
at least you didn't say rectangle
The reason I am asking is because I am trying to make the outline/highlight , rectangle , or graphical feature. I am trying to make it more "tighter" within the text. If you see the picture I post you can see it is not tight as it should be. What I mean the word should be in full cover within the outline .
Now if the bounding box was created manually, then you could go back and reset the bounding box tighter while not obstructing or clipping the text or forcing wrap. If it is create automatically by tools there much be some default padding around the text. Try looking for properties for labels which probably include padding around the text, whether the text is centered vertically/horizontally etc etc. A good place to begin is the old righ-click on the object trick... if a dialog pops up, you should be able to access object properties from there just like in all software packages. If right-click doesn't work, try double-click, if that fails, on to some menu or too selection.
If that's a plain old text element, you can control it through the margin setting, which is buried in:
Properties -> Change Symbol... -> Edit Symbol... -> Advanced Text tab -> Text Background -> Properties -> Margins
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