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Case Interviews > Terminology > Flashcards

Terminology Flashcards

1
Q

Ad hoc

A

Non-structure

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2
Q

Alignment

A

Agreement

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3
Q

Benchmark

A

A standard or point of reference

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4
Q

Best practice

A

How things should “best” be done

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5
Q

CAGR

A

Compound annual growth rate

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6
Q

Capability

A

What can you do

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7
Q

CAPEX

A

“Capital expenditure; or cost on the

investment side”

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8
Q

Change management

A

“How to make

changes happen in big organizations”

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9
Q

Competitiveness

A

Strength; ability to compete

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10
Q

Constraint

A

Difficulty; draw- back; etc.

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11
Q

Core business

A

Flagship; main activity

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12
Q

Deliverables

A

End products of consulting projects

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13
Q

Diagnostic assessment

A

“Initial research at the beginning of any consulting

project”

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14
Q

Driver

A

Cause

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15
Q

End-to-end

A

Comprehensive; complete

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16
Q

Feasibility

A

How possible something is

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17
Q

Fitness

A

Appropriateness

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18
Q

Footprint

A

“Significant and powerful presence

in something”

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19
Q

Full-fledged

A

“Completely developed or

established”

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20
Q

Function

A

“E.g: HR, Finance,

Operation, Strategy, etc.”

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21
Q

Gaps

A

Difference

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22
Q

Governance

A

“Leadership & management

system”

23
Q

Impeccable

A

Perfect

24
Q

In line

A

About the same

25
Q

Infrastructure

A

System; foundation

26
Q

Initiatives

A

Actions

27
Q

Leverage

A

Taking the advantage of

28
Q

Levers

A

Ways to improve things

29
Q

Market perspective

A

Market understanding

30
Q

Mechanism

A

Method

31
Q

Milestones

A

Minigoals

32
Q

OPEX

A

“Operating expenditure; or cost on the

operation side”

33
Q

Optimization

A

“Improving toward the best possible

outcome”

34
Q

Organization

A

How different parts of a company is

35
Q

Productivity

A

“How efficient and

effective things are run”

36
Q

Restructuring

A

“Significantly and massively changing

something”

37
Q

Rigorous

A

Comprehensive

38
Q

Roadmap

A

Overall timeline- based plan

39
Q

Root cause

A

Bottleneck that causes the problem

40
Q

Segment

A

“The small piece after breaking down big problem, industry,

workstream, etc.”

41
Q

Soundness

A

Goodness

42
Q

Strategy

A

Where to play; What to play; How to play

43
Q

Streamline

A

“In organized

system and with specializations”

44
Q

Subscale

A

Small

45
Q

Synergy

A

Things when combined create greater value than

sum of each part

46
Q

Transformation

A

“Significantly and massively changing

something”

47
Q

Turnaround

A

“Bringing something

from slums to the surface”

48
Q

Utilization

A

Make the best use of something

49
Q

Value chain

A

Type of breaking down business activities based on chronical steps

50
Q

Value proposition

A

Selling points; what customers need

51
Q

Efficiency

A

Cost

52
Q

ladder

A

range of products varying in price and features

53
Q

Elasticity

A

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.

Case Interviews (6 decks)

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