Terminology

Question 1

Ad hoc

Answer 1

Non-structure

Question 2

Alignment

Answer 2

Agreement

Question 3

Benchmark

Answer 3

A standard or point of reference

Question 4

Best practice

Answer 4

How things should “best” be done

Question 5

CAGR

Answer 5

Compound annual growth rate

Question 6

Capability

Answer 6

What can you do

Question 7

CAPEX

Answer 7

“Capital expenditure; or cost on the

investment side”

Question 8

Change management

Answer 8

“How to make

changes happen in big organizations”

Question 9

Competitiveness

Answer 9

Strength; ability to compete

Question 10

Constraint

Answer 10

Difficulty; draw- back; etc.

Question 11

Core business

Answer 11

Flagship; main activity

Question 12

Deliverables

Answer 12

End products of consulting projects

Question 13

Diagnostic assessment

Answer 13

“Initial research at the beginning of any consulting

project”

Question 14

Driver

Answer 14

Cause

Question 15

End-to-end

Answer 15

Comprehensive; complete

Question 16

Feasibility

Answer 16

How possible something is

Question 17

Fitness

Answer 17

Appropriateness

Question 18

Footprint

Answer 18

“Significant and powerful presence

in something”

Question 19

Full-fledged

Answer 19

“Completely developed or

established”

Question 20

Function

Answer 20

“E.g: HR, Finance,

Operation, Strategy, etc.”

Question 21

Gaps

Answer 21

Difference

Question 22

Governance

Answer 22

“Leadership & management

system”

Question 23

Impeccable

Answer 23

Perfect

Question 24

In line

Answer 24

About the same

Question 25

Infrastructure

Answer 25

System; foundation

Question 26

Initiatives

Answer 26

Actions

Question 27

Leverage

Answer 27

Taking the advantage of

Question 28

Levers

Answer 28

Ways to improve things

Question 29

Market perspective

Answer 29

Market understanding

Question 30

Mechanism

Answer 30

Method

Question 31

Milestones

Answer 31

Minigoals

Question 32

OPEX

Answer 32

"Operating expenditure; or cost on the | operation side"

Question 33

Optimization

Answer 33

"Improving toward the best possible | outcome"

Question 34

Organization

Answer 34

How different parts of a company is

Question 35

Productivity

Answer 35

"How efficient and | effective things are run"

Question 36

Restructuring

Answer 36

"Significantly and massively changing | something"

Question 37

Rigorous

Answer 37

Comprehensive

Question 38

Roadmap

Answer 38

Overall timeline- based plan

Question 39

Root cause

Answer 39

Bottleneck that causes the problem

Question 40

Segment

Answer 40

"The small piece after breaking down big problem, industry, | workstream, etc."

Question 41

Soundness

Answer 41

Goodness

Question 42

Strategy

Answer 42

Where to play; What to play; How to play

Question 43

Streamline

Answer 43

"In organized | system and with specializations"

Question 44

Subscale

Answer 44

Small

Question 45

Synergy

Answer 45

Things when combined create greater value than | sum of each part

Question 46

Transformation

Answer 46

"Significantly and massively changing | something"

Question 47

Turnaround

Answer 47

"Bringing something | from slums to the surface"

Question 48

Utilization

Answer 48

Make the best use of something

Question 49

Value chain

Answer 49

Type of breaking down business activities based on chronical steps

Question 50

Value proposition

Answer 50

Selling points; what customers need

Question 51

Efficiency

Answer 51

Cost

Question 52

ladder

Answer 52

range of products varying in price and features

Question 53

Elasticity

Answer 53

elasticity measures responsiveness of one variable to changes in another variable. Elasticities can be divided into three broad categories: elastic, inelastic, and unitary. An elastic demand is one in which the elasticity is greater than one, indicating a high responsiveness to changes in price. Elasticities that are less than one indicate low responsiveness to price changes and correspond to inelastic demand. Unitary elasticities indicate proportional responsiveness of either demand or supply. When our point is elastic our \%\;change\;in\;quantity > \%\;change\;in\;price meaning if we increase price, our quantity effect outweighs the price effect, causing a decrease in revenue. When our point is inelastic our \%\;change\;in\;quantity < \%\;change\;in\;price meaning if we increase price, our price effect outweighs the quantity effect, causing a increase in revenue.