Terminology Flashcards
Ad hoc
Non-structure
Alignment
Agreement
Benchmark
A standard or point of reference
Best practice
How things should “best” be done
CAGR
Compound annual growth rate
Capability
What can you do
CAPEX
“Capital expenditure; or cost on the
investment side”
Change management
“How to make
changes happen in big organizations”
Competitiveness
Strength; ability to compete
Constraint
Difficulty; draw- back; etc.
Core business
Flagship; main activity
Deliverables
End products of consulting projects
Diagnostic assessment
“Initial research at the beginning of any consulting
project”
Driver
Cause
End-to-end
Comprehensive; complete
Feasibility
How possible something is
Fitness
Appropriateness
Footprint
“Significant and powerful presence
in something”
Full-fledged
“Completely developed or
established”
Function
“E.g: HR, Finance,
Operation, Strategy, etc.”
Gaps
Difference
Governance
“Leadership & management
system”
Impeccable
Perfect
In line
About the same
Infrastructure
System; foundation
Initiatives
Actions
Leverage
Taking the advantage of
Levers
Ways to improve things
Market perspective
Market understanding
Mechanism
Method
Milestones
Minigoals
OPEX
“Operating expenditure; or cost on the
operation side”
Optimization
“Improving toward the best possible
outcome”
Organization
How different parts of a company is
Productivity
“How efficient and
effective things are run”
Restructuring
“Significantly and massively changing
something”
Rigorous
Comprehensive
Roadmap
Overall timeline- based plan
Root cause
Bottleneck that causes the problem
Segment
“The small piece after breaking down big problem, industry,
workstream, etc.”
Soundness
Goodness
Strategy
Where to play; What to play; How to play
Streamline
“In organized
system and with specializations”
Subscale
Small
Synergy
Things when combined create greater value than
sum of each part
Transformation
“Significantly and massively changing
something”
Turnaround
“Bringing something
from slums to the surface”
Utilization
Make the best use of something
Value chain
Type of breaking down business activities based on chronical steps
Value proposition
Selling points; what customers need
Efficiency
Cost
ladder
range of products varying in price and features
Elasticity
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.
