Spin-off or sell non-core competencies Crisp:Īn adjective indicating that the referenced work or analysis is thorough and complete, perhaps by gastronomical allusion to food that is fully prepared it is duly noted that crisp objects, while ostensibly finished, are also far more brittle and prone to shattering C-Suite: Identify and retain core competencies during restructuring. The notion that companies have a limited number of things they are innately good at. Core Client:Ī client with a long-standing firm relationship, and one in which there is continual dialogue between senior executives even if there are no ongoing projects Core Competencies: The British English term for a consulting firm. To follow up with indicated individuals at a later point in time, usually to review progress on the current topic of discussion this phrase is somewhat redundant, as it is impossible to trace a circle that does not connect back with itself Consultancy:
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Your available time and energy for additional tasks Charge Code:Ī unique code provided with each project/assignment to which you can charge work-related expenses Circle Back:
If you don’t know it, you won’t get very far Campus Hire:Ī consultant hired directly from undergraduate or business schools, as opposed to “experienced hire” Capacity: To indicate that a particular piece of work or analysis is comprehensive, accurate and capable of withstanding close scrutiny this is an example of opposite terms with identical meanings Buy-In:Īgreement, support it is unclear why ‘buy-in’ has come to supplant these terms, as no actual purchasing occurs CAGR:Ĭompound annual growth rate.
Generally, a project manager or partner will say “Let’s not boil the ocean” as a pretext for suggesting a ton of analyses that in effect, often ends up boiling a very large lake, if not exactly the ocean Bottoms-Up:Įxpression meaning to look at the smallest units possible to initiate analysis (eg, bottoms-up analysis of a company would start with its lowest-level employees and then work its way to upper management) Buckets:Ĭategories this is the extent of this word’s definition, so it remains a mystery why people choose to employ the former term also used as a transitive verb to mean ‘categorize’ Buttoned-Down: Boil the Ocean:Īs the name states, clearly an impossible task. To chase down something, like a dog would chase a bird. Big 3:ĭeloitte, Ernst & Young, KPMG, PricewaterhouseCoopers Bird’s Eye View: Usually for operational efficiency Best Practices:Īctions similar companies take to best reach benchmarks. Metrics or standards competitors in the client market attain. The consulting equivalent of sports’ being on the bench, it is viewed with worrisome anxiety by junior consultants and relieved gratitude by senior consultants Benchmarks:
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Managing the lows that come with any consulting role and many (most) careers about purposefully choosing how to respond and where to focus when the going gets tough At the end of the day:Ī phrase used to attempt summarization, introduce an air of finality and perhaps close off certain avenues of discussion since most consultants’ days do not end with the setting of the sun, at the end of the day most of them are still working B2B:īusiness to business, referring to a company’s primary audience for sales and marketing B2C:īusiness to consumer, referring to a company’s primary audience for sales and marketing Bandwidth:Ĭapacity, free time, ability to do (additional) work generally used to indicate that speaker cannot or would not prefer to do additional work, as in: “I don’t think I’ll have any bandwidth this Friday” Beach:
Denotes time scheduled to discuss miscellaneous topics in a meeting. To state a hypothesis and/or take a stab at an answer without having all the supporting facts first based on the Pyramid Principle AOB:Īny other business – Term generally used in developing a meeting agenda. 5,000 can be replaced by any large number to indicate the same thing 80/20 rule:īelief that 80% of the effects come from 20% of the causes in consulting, this term is used to imply that 80% of an assignment can be finished in 20% of the time Action Plan:Ī plan specifying how certain actions should occur, by what date, and by whom Adding Value: $2050 Add to cart Consulting Terms Glossary: Jump Menu:Ī phrase used to describe a high-level, summary view of the situation.
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