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	<title>Management Consulted &#187; charge code</title>
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		<title>Announcing the management consultant&#8217;s dictionary &#8211; from &#8220;bandwidth&#8221; to &#8220;wordsmith&#8221;</title>
		<link>http://managementconsulted.com/consulting-lingo/announcing-the-management-consultants-dictionary-from-bandwidth-to-wordsmith/</link>
		<comments>http://managementconsulted.com/consulting-lingo/announcing-the-management-consultants-dictionary-from-bandwidth-to-wordsmith/#comments</comments>
		<pubDate>Tue, 13 Jan 2009 03:58:19 +0000</pubDate>
		<dc:creator>Kevin</dc:creator>
				<category><![CDATA[consulting lingo]]></category>
		<category><![CDATA[Big 3]]></category>
		<category><![CDATA[Big 4]]></category>
		<category><![CDATA[charge code]]></category>
		<category><![CDATA[consulting dictionary]]></category>
		<category><![CDATA[management consultants]]></category>
		<category><![CDATA[MECE]]></category>

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		<description><![CDATA[*This post will be available as a tab in the navigation menu above* &#8220;A consultant is someone who takes a subject you understand and makes it sound confusing.&#8221; It&#8217;s a common perception of management consultants. From &#8220;bucket&#8221; to &#8220;scope&#8221;, from &#8220;sniff test&#8221; to &#8220;circle back&#8221;, to excel in the industry is to master a new [...]]]></description>
			<content:encoded><![CDATA[<p></p><p class="note">*This post will be available as <a href="http://managementconsulted.com/dictionary/">a tab</a> in the navigation menu above*</p>
<p><strong><em>&#8220;A consultant is someone who takes a subject you understand and makes it sound confusing.&#8221;</em></strong></p>
<p>It&#8217;s a common perception of management consultants. From &#8220;bucket&#8221; to &#8220;scope&#8221;, from &#8220;sniff test&#8221; to &#8220;circle back&#8221;, to excel in the industry is to master a new and often entirely job-specific vocabulary.</p>
<p>I received a lot of feedback when I published my first post on <a href="http://managementconsulted.com/2008/12/26/management-consulting-lingo-words-and-phrases-that-applicants-and-interviewees-should-read-and-know/">consulting lingo</a>.</p>
<p>Now I&#8217;m happy to announce the <strong>most comprehensive, yet still-useful dictionary</strong> of consulting terms on the internet. I want to give a quick shout to <a href="http://bnjammin.blogspot.com/">bnjammin&#8217;s Blog</a>, which covered a lot of these terms in previous posts.</p>
<p class="alert">I&#8217;m hoping this database of words will grow with time &#8211; through reader feedback and my own research</p>
<p><span id="more-573"></span><br />
So here it is!</p>
<p><strong>5,000 mile view</strong>: 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</p>
<p><strong> 80/20 rule:</strong> 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</p>
<p><strong> adding value:</strong> quite simply, that value is being added. See also &#8220;value-add&#8221;</p>
<p><strong> at the end of the day:</strong> a phrase used to attempt summarization, introduce an air of finality and perhaps close off certain avenues of discussion; since most consultants</p>
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