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English for managers

I.

Key vocabulary for managers:

MANAGEMENT

WORK AND MOTIVATION

consultant

(un)skilled worker

market value

benefits

objective

bonus

performance

career training

promotion

commission

public sector

corporate culture

resources

early retirement

revenue

efficiency

shareholder

fixed salary

skill

hourly wage

staff

incentive

subordinate

job rotation

target

job security

to accomplish

labor relations

to allocate

manufacturing

to execute

pay rise

to invest, investor

pension

to measure

perk

to resign

professionals

to supervise, supervisor

profit sharing
promotion

remuneration
salary
sick pay
to supervise
vacation
wage
working conditions
working relations
working week
COMPANY STRUCTURE

MANAGING ACROS CULTURES

(flat/steep) hierarchy

collectivist

accounting

competition

administration

cultural diversity

boss

foreign markets

budget

globalization

capacity

globalization

chain of command

individualist

chief executive officer (CEO)

localization

colleagues

Master of Business Administration (MBA)

department

multinational company

employee

particularist

employer

pay-for-performance

finance

sales rep(resentative)

function

stereotype

functional structure

universalist

human resources (HR)

in-house
inventory
line authority
line authority
line manager
line structure
market share
marketing
matrix management
operating division
outsourcing
production
profit margin
reorganization
research and development (R&D)
sales
sales force
subordinate
superior
supplier
to be responsible for
to collaborate
to cut back
to delegate

to report to

RECRUITMENT

WOMEN IN BUSINESS

(job) vacancy

(compulsory/voluntary) quota

a self-starter

accountability

a team player

affirmative action

a/to challenge

apprentice

candidate

board of directors

career

business leader

contract

compliance

covering letter

consumer spending

CV/resume

leadership ranks

employment agency

non-executive director

experience

return on equity

headhunter

senior management

job description

shareholder

job interview

talent pool

junior/senior position

to outperform

negotiation skills

trainee

position/post
professional growth
qualifications
recruiter
reference
to apply/application/applicant

to be adaptable
to be committed
to be results oriented
to hire
to promote
to resign
to/a shortlist

SECTORS OF ECONOMY

PRODUCTION

added value

supply chain

advanced country

production department

agriculture

production manager

commercial services

inventory/stock

delocalize

component

healthcare

plant

heavy industry

location

lawyer/law firm

capacity

less-developed country

output

low-cost country

outsourcing

maintenance

economies of scale

manufacturing

lead time

packaging

facility

primary sector

factory

quaternary sector

fixed cost

raw materials

industrial relations

real estate

depreciation

secondary sector

opportunity costs

tertiary sector

obsolescence

to distribute

supply and demand

to extract

a/to discount
just-in-time delivery
procurement
prosperity
risk premium
Vocabulary

LOGISTICS

QUALITY

a/to forecast

complaint

agile manufacturing

defect

cashier

durability

checkout counter

product returns

consignment

regulation

consumption

reliability

conveyor belt

repurchase rate

current

staff morale

customer

staff turnover

customer service

to rework

delivery

to scrap

distribution center

warranty

lean

waste

lean production
merchandise
pull/push strategy
purchasing (department)
retail business
to dispatch
to order
to replenish
to/an estimate
transport company
warehouse
PRODUCTS

MARKETING

(in)tangible assets

customer driven

B2B

distribution channel

B2C

market driven

book value

market opportunity

brand

market penetration

brand recognition

market segmentation

brand-loyal

market skimming

brand-switcher

price elasticity

competition, competitive, competitor

price sensitive

corporate branding

price war

logo

product differentiation

market share

product features

market share

sales driven

multi-brand strategy

sales rep(resentative)

outlet

wholesaler

pricing
product life cycle
product line
product mix
to cannibalize
ADVERTISING
word-of-mouth advertising
ad(vertisement)
campaign
brief
target customer
budget
media plan
comparative-parity method
to launch
sales promotion
viral marketing
advertising agency
free sample

II.

Useful expressions you must know:

5,000 mile view: a phrase used to describe a high-level, summary view of the situation. 5,000
can be replaced by any large number to indicate the same thing

80/20 rule: belief 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

adding value: quite simply, that value is being added. See also value-add

AOB: Any other business Term generally used in developing a meeting agenda. Denotes time
scheduled to discuss miscellaneous topics in a meeting.

at the end of the day: a 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: business to business, referring to a companys primary audience for sales and marketing

B2C: business to consumer, referring to a companys primary audience for sales and marketing
bandwidth: capacity, 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 dont think Ill have any
bandwidth this Friday

beach: the consulting equivalent of sports being on the bench, it is viewed with worrisome
anxiety by junior consultants and relieved gratitude by senior consultants

Birds eye view: high level view

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Boil the ocean: as the name states, clearly an impossible task. Generally, a project manager or
partner will say Lets 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: expression 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: categories; this is the extent of this words 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: see buttoned-up

buttoned-up: 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: agreement, support; it is unclear why buy-in has come to supplant these terms, as no
actual purchasing occurs

CAGR: compound annual growth rate. If you dont know it, you wont get very far

campus hire: a consultant hired directly from undergraduate or business schools, as opposed to
experienced hire

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capacity: your available time and energy for additional tasks

charge code: a unique code provided with each project/assignment to which you can charge
work-related expenses

circle back: 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

core client: a 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
crisp: an 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

deck: your PowerPoint slides, sometimes referring to the master deck for the team

deep dive: similar to double click, this means a thorough in-depth exploration of a particular
topic

deliverable: anything that is owed by you to your manager/team, or owed by team to client

double click: similar to deep dive, this means a thorough in-depth exploration of a particular
topic

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due diligence: comprehensive study/survey of a business model with an aim to set clear
expectations, risks, dependencies, etc as part of a business proposal

EBITDA: earnings before interest, taxes, depreciation, and amortization

elevator test: a test of ones ability to explain concepts in a short-period of time (typically 60
seconds or less). The elevator test represents a hypothetical situation where you are sharing the
elevator with a VIP and need to give them a quick summary/presentation during the ride

engagement: also known as a project or a case

experienced hire: a consultant hired from another company, typically with a higher starting
position and salary than 1st year consultants. See also parallel hire

fact pack: typically a pack of information that provides the essential facts on a
project/industry/company

Gantt chart: type of bar chart that illustrates a project schedule with start and finish dates,
deliverables, etc

GMC: Global Management Consultancy, sometimes referring to just the Big 3, sometimes
referring to the Big 3 plus the Big 4 accounting firms

granular: a detailed level of abstraction; often used in the context of increasing the fineness of
the analysis, as in: We need to get more granular here

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hands: often prefaced with client, indicates the interpersonal skills of an individual in relation
to a particular group of people, as in, That manager sure has great client hands

hard stop: used to indicate that after the time indicated, the listeners are on their own, because
the person stating that they have a hard stop sure isnt going to be around to help after then

high-level: similar to 5,000 mile view, but high-level can also mean a very rudimentary analysis
(often lacking in detail)

hope youre doing well: a generally well-intended but insincere interpolation used at the
beginning of most voicemails to replace the standard pleasantries that would be present in verbal
communications; use of this phrase does not indicate actual interest in the well-being of the
recipient; also found with alarming frequency in electronic mail

I need someone who can hit the ground running: really means, I am screwed. Because no
one can hit the ground running. You need to at least assess what race youre in and who else is
running.

Im calling to touch base:I want something from you but I cant say it up front. Or I am
worried that you are lost and Im sniffing around for signs to confirm my hunch. Or Im
calling because you micromanage me.

keep this on your radar:This will come back to bite you. or me.
key: critical, essential, required, important, central; the key analysis is generally the linchpin;
often used as a noun, and with such frequency that its significance has been diluted, since
everything is now key

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let me play this back: said when the listener wants to refract and color the conversation through
his or her own perspective, under the pretense of reviewing the transcript of whats been said; in
this manner the listener can pretend he or she is a tape recorder

lets close the loop:Let me make sure Im not going to get into trouble for this one.

lets hit a home run: Im desperate to look good. Even though the odds of a home run are slim,
Im banking on one because its the only thing thatll save me. Something for all your sports
fans to remember: If you have a bunch of solid hitters you dont need a bunch of home runs.
L
its run the numbers and see how they look:I know they look bad on first blush. But the true
use of Excel is to keep changing the formulas until you find a format that makes the numbers
look good.

lets think out of the box: really means, Can you creatively anemic people please come up
with something? The person who says, Lets think out of the box is usually desperate for a
new idea and surrounded by people who are not known for generating ideas. So the phrase is
actually an announcement that says, Im in trouble.

lets touch base next week: I dont want to talk to you now, or You are on a short leash and
you need to report back to me.

leverage: a fancy way of saying use as in Lets leverage this set of data

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low-hanging fruit: the initial opportunities, areas of exploration, etc. that are easiest to cover;
intended to evoke visual imagery of fruit-laden trees, suggesting that much remains beyond the
lowest boughs; syn. quick win

MBB: McKinsey, Bain, BCG aka the Big 3

McKBain Group: a term I made up that is easier for newbies than MBB

MECE: mutually exclusive, collectively exhaustive. A term originating at McKinsey and

common across management consulting firms, its a grouping principle that in the words of
Wikipedia, data in a group should be divided into subgroups that comprehensively represent
that group (no gaps) without overlapping

my plate is full: Help Im drowning, or I would kill myself before Id work on your project.

on board: the status of being assigned to a case, engagement, or project

opportunity cost: basic economic principle that describes the cost of the next best alternative
foregone when making a decision

paradigm: consulting-ese for pattern or model or framework

parallel hire: a consultant hired from another company, typically with a more senior position
position and higher starting salary than 1st year consultants. See also experienced hire

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ping: synonym for contact; originated as an onomatopoeia for the sound that is emitted when
someone receives an instant message, but nowadays can refer to any form of contact including
email or even tapping someone on the shoulder

PIOUTA: pulled it out of thin air, also see WAG or SWAG

pipeline: typically used to reference the current and upcoming list of client engagements

POA: plan of action

production: in noun form, a department (either internal or outsourced) of the consulting firm
that assists in producing the materials needed for presentations, meetings, etc

progress review: a periodic meeting (either internal or with the client) to review the progress
made in the preceding period

provide color: a directive that translates roughly to This is perhaps the most boring thing I have
ever read, with the possible exception of certain lengthier legal disclaimers, and even then its
pretty close; this bit of jargon is nevertheless somewhat of an advance, since, back in the early
days of consulting, people were encouraged to provide black and white

push back (verb form) or pushback (noun): formerly the sole domain of airplanes leaving
their gates, this term is now used to indicate resistance and/or disagreement, without actually
using those terms; this phrase attempts to avoid any negative connotations of controversy

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QC: Quality control, typically referring to need to check for typos, grammar mistakes,
calculation errors, etc

quick question: the answer will be anything but; bizarre since the adjective quick is intended,
by implication, to be transferred to the answer to said question and does not necessarily have any
bearing on the length of the question

right sized: euphemism for downsized

rock star: an individual whose performance in a given area or success at specific endeavors is
highly impressive, unique and/or admirable; this appellation is generally used sparingly;
although the term is sometimes used frivolously to express purportedly extreme gratitude, as in:
Thanks for picking up my mail for me, youre a rock star

sandwich method: a structure for providing feedback that resembles a sandwich one positive
comment, then a developmental critique, ending with a positive comment

scope: the agreed-upon list of deliverables and boundaries that underpin any client engagement

sea change: in between lake change and ocean change

sniff test: as in evaluating food for rancidity, this term is used when gauging the viability or
reasonableness of a particular analysis; var. smell test

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space: a market, arena, field of endeavor, or general area, not to be confused with the area
beyond Earths atmosphere; use of this term usually adds nothing in the way of descriptive value,
as in I dont think there will be many opportunities in the technology space

stand up call: a quick round table team call to update status from each team member/lead.
Usually no longer than 15-20 minutes.

straw man: a construct presented purely for the sake of argument, with the implication that it is
not designed to withstand repeated attacks

summer: abridged noun form of summer intern

SWAG: some wild-ass guess. See WAG

take the lead on: a clever phrase often used by more experienced consultants when they wish to
delegate a menial task, as in: Why dont you take the lead on putting together this document,
which may translate to, Im lazy and probably not smart or energetic enough to work on this, so
go do it; often appears in utterly irrelevant settings, as in, Why dont you take the lead on
making dinner reservations for the team, a manifestly silly request, since one is asked to take
the lead on something which doesnt require leadership of anyone and on which they will
certainly be working solo

takeaway: in other settings a British term referring to carry-out food, here this word has been
transmogrified to indicate the salient point that should be retained upon the conclusion of the
discussion, often prefaced with key

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to be transparent: in indication that what follows will be particularly revelatory, although it

often is not especially so; the troubling implication of this usage is that the speaker has
heretofore been opaque

up or out: employee promotion policy where if youre not promoted up, youre counseled
out of the company. Many consulting firms use up or out but not all

upward feedback: the process of providing feedback upward to more senior employees, from
managers to partners

utilization rate: client service hours vs. time on beach. If below 50%, prepared to be right
sized

value-add: quite simply, that value is added, mashed into a hyphenated noun form. See adding
value

WAG: wild-ass-guess. See SWAG

wordsmith: to make trivial or generally unnecessary edits to text that may only subtly change
the meaning, if at all; incorrectly implies that one is a craftsman on the order of a blacksmith or
goldsmith; sadly, wordsmithing rarely involves the deletion of jargon

workstream: a group of tasks that make up a project. Usage The team was developing
various workstreams to complete the client deliverables

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You and I are not on the same page: Get on my page. Your page is misguided. No one ever
says, Were not on the same page, so let me work really hard to understand your point of view.
If you want to understand someone else, you say, Can you tell me more about how youre
thinking.

III.

Dialogue:
AE director
you project manager
AE

Hi John, take a seat. Do you know much about the

project?

You

Hi Peter. I know a little about it.

AE

Well, Ill tell you about it now. The main purpose of the
project is to incorporate the existing TB Management
Application into the TB Office Application. The scope is
very large, its an essential application for the company
and it will be used for the whole company across the
world. Because we dont want to risk bringing down the
whole computer system, the roll out will be done in
stages. First, in the UK and Holland, then in the rest of
Europe, then the rest of the world. Weve done the
business case, how much we predict it will cost and how
much money we expect to save when its being used.
Now, its with the Board of Directors, waiting for their
sign off. But thats just a formality, well have the
confirmation of the project in a couple of days. Do you
have any questions?

You

Yes, what are the deliverables?

AE

Just the incorporation of the app into the office

application and some new report and statistical
functions.

You

I suppose that a risk analysis has been carried out.

What are the main risks if its rolled out and doesnt
work?

AE

Well, the worst case scenario is that the companys

main office application wont work. Thats why the roll
out will be in different phases. But we doubt anything

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so severe will happen.
You

What will the budget for the project be?

AE

About $3.5 million. I know its not a lot, but because of

the crisis, there are constraints on spending. We cant
spend like we used to. Theres also a time constraint, it
needs to be up and running in 9 months. Thats if
everything goes according to plan. And as you know
nothing ever does!

You

It does seem challenging.