Consulting Jargon
What does MECE stand for?
Mutually Exclusive and Collectively Exhaustive
What do top line and bottom line mean?
When were we founded?
2016
Who can’t stop talking about where they’re from?
Answer must be who and where they are from
Michelle (Columbus, Ohio)
How do you find profit margin?
Profit / Revenue
What do you call when a client changes project requirements mid-way?
Scope Creep
What are mergers and acquisitions (M&A)?
The process of companies combining or one company purchasing another.
There’s a channel in Slack created by past MD- Kaitlyn that served as an “out-of-context” or another #random channel; what is the channel name?
#solutions-ooc
Which Exec member has a best of 6300 trophies in Clash Royale?
Nolan
How do you find a pay-back period on an investment?
Initial investment / annual profit
What do consultants call a concise statement that outlines the desired future state of a business after implementing a strategy?
Vision statement
What are the 4 Ps?
Product, Place, Price, Promotion
What is Director of Resources?
Old DoPE
What time did Exec finish deliberating on the Monday of interviews?
Around 3am
What is the formula for contribution margin?
Revenue - variable costs
What does SME stand for?
Subject-matter expert
What do you call a business strategy that focuses on creating uncontested market space instead of competing in an existing market?
Blue Ocean strategy
How many unique companies do we have alumni in?
123
Which Exec has travelled to the most countries?
Rushil -> 30 countries
How do you calculate for break-even point?
Fixed costs / (selling price - variable costs per unit)
What do consultants call their “ultimate goal or principle”
*hint: Bain has this as their logo
North Star
What are Porter’s Five Forces?
(1) rivalry of competitors, (2) potential of new market entrants, (3) suppliers’ strength, (4) customers’ strength, and (5) threat of substitutes.
Who are our founders?
Maggie Stotzer and Raghav Gandhi
Where does Exec avoid eating after Nolan got food poisoning?
What is the gross margin ratio formula?
[(Revenue - COGS) / Revenue] * 100