SO fiddle

Test Fiddle mainly for SO Questions

by Nick Craver

HTML

<link rel="stylesheet" href="http://ajax.googleapis.com/ajax/libs/jqueryui/1.8.4/themes/overcast/jquery-ui.css">
   <div class="select-big select-small right">
<div class="select-holder">
<div class="button">
<div class="icon left"></div>
<p class="text left">Fast Food Pos System</p>
<a href="#" class="trigger right"></a>
<div class="cl">&nbsp;</div>
</div>
<div class="dropdown">
<ul>
<li><a href="#" class="icon-s icon-s1">Grocery</a></li>
<li><a href="#" class="icon-s icon-s2">Pizza Delivery</a></li>
<li><a href="#" class="icon-s icon-s3">Quick Service</a></li>
<li><a href="#" class="icon-s icon-s4">Retail</a></li>
<li><a href="#" class="icon-s icon-s5">Salon</a></li>
<li><a href="#" class="icon-s icon-s6">Bar</a></li>
</ul>
<div class="cl">&nbsp;</div>
</div>
</div>

JavaScript

$('.select-big ul li a').click(function () {
        $(this).parents('.select-holder').find('.text').text($(this).text());
        var type = $(this).text().substring(0, 3).toLowerCase();
        alert(type);
    });