Terminology Flashcards Preview

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Flashcards in Terminology Deck (53):
1

Ad hoc

Non-structure

2

Alignment

Agreement

3

Benchmark

A standard or point of reference

4

Best practice

How things should “best” be done

5

CAGR

Compound annual growth rate

6

Capability

What can you do

7

CAPEX

"Capital expenditure; or cost on the
investment side"

8

Change management

"How to make
changes happen in big organizations"

9

Competitiveness

Strength; ability to compete

10

Constraint

Difficulty; draw- back; etc.

11

Core business

Flagship; main activity

12

Deliverables

End products of consulting projects

13

Diagnostic assessment

"Initial research at the beginning of any consulting
project"

14

Driver

Cause

15

End-to-end

Comprehensive; complete

16

Feasibility

How possible something is

17

Fitness

Appropriateness

18

Footprint

"Significant and powerful presence
in something"

19

Full-fledged

"Completely developed or
established"

20

Function

"E.g: HR, Finance,
Operation, Strategy, etc."

21

Gaps

Difference

22

Governance

"Leadership & management
system"

23

Impeccable

Perfect

24

In line

About the same

25

Infrastructure

System; foundation

26

Initiatives

Actions

27

Leverage

Taking the advantage of

28

Levers

Ways to improve things

29

Market perspective

Market understanding

30

Mechanism

Method

31

Milestones

Minigoals

32

OPEX

"Operating expenditure; or cost on the
operation side"

33

Optimization

"Improving toward the best possible
outcome"

34

Organization

How different parts of a company is

35

Productivity

"How efficient and
effective things are run"

36

Restructuring

"Significantly and massively changing
something"

37

Rigorous

Comprehensive

38

Roadmap

Overall timeline- based plan

39

Root cause

Bottleneck that causes the problem

40

Segment

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

41

Soundness

Goodness

42

Strategy

Where to play; What to play; How to play

43

Streamline

"In organized
system and with specializations"

44

Subscale

Small

45

Synergy

Things when combined create greater value than
sum of each part

46

Transformation

"Significantly and massively changing
something"

47

Turnaround

"Bringing something
from slums to the surface"

48

Utilization

Make the best use of something

49

Value chain

Type of breaking down business activities based on chronical steps

50

Value proposition

Selling points; what customers need

51

Efficiency

Cost

52

ladder

range of products varying in price and features

53

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.