Сonsulting glossary

ABC-analysis – a method based on the Pareto principle, which allows to classify the firm's resources in terms of their importance.

Agile – a flexible project management system created in the field of IT and based on a number of principles and methods (Kanban, Scrum, etc.).

Assessment center – a method of comprehensive staff assessment, based on its behavior in various simulated situations.

Asset management – professional management of various types of securities and other assets (for example, real estate), the purpose of which is to make profit for investors.

Balanced Scorecard (BSC) – an instrument of strategic management to monitor the efficiency and effectiveness of the company in fulfilling its strategic goals.

Benchmarking – comparison of the processes, structure, performance indicators and other determinants of the company with the corresponding characteristics of the reference company or the market leader company.

Benefit package (benefits) – the granting of social benefits to employees for the purpose of creating comfortable living and working conditions.

Budget – a calendar plan of income and expenses of the organization, formulated in terms of value and quantity for decision-making, planning and control in the management of the company.

Business development plan – a current business plan of the enterprise, which describes the most important transactions of the company for the forthcoming period (from one year).

Business model – a conceptual formula for the company's commercial activities, which briefly describes the scheme of creating, selling and transferring value and receiving rewards for it.

Business plan – a formalized program for carrying out business operations of the company, containing information about the firm, the product, its production process, sales markets, marketing, financial activities, organization of operations and their effectiveness.

Business plan of the investment project – a business plan that describes the essential aspects of the investment project (strategic, organizational, production, financial, investment, etc.) based on the objectives and analytics.

Business process automation (BPA) – the introduction of a software product in conjunction with new requirements for the implementation of business process, ensuring the improvement of the quality of the company.

Business process modeling – activity on building a model of the enterprise processes in the current state.

Business process reengineering – the fundamental rethinking and redesign of business process for optimizing work and maximizing profits, begins with modeling processes as is and then processing them as to be.

Business strategy – a long-term development plan with a growing horizon in time, modeling all modes of survival in the long-term projection, topical innovations, growth forecasts, risk assessment and risk management methods, innovative competitive opportunities.

Cash flow – a plan for the movement of financial resources of the company, which takes into account all receipts and payments.

Capacity management – management of the resources of the organization, such as labor, production and office space, technology and equipment, raw materials and equipment.

Capital structure – the ratio of short-term liabilities, long-term liabilities and the organization's own capital.

Change management – a structural approach to the transfer of individuals, teams and organizations from the current state to the desired future state.

Compensation package – the main way of material motivation of personnel in any organization, which in cash reimburses the employee's temporary, labor, intellectual and other expenses for the performance of functional duties.

Consulting (business consulting) – advice service for managers, business owners on a wide range of issues in financial, commercial, legal, technological, technical and expert fields.

Controlling – a system of management tools that perform checks on key performance indicators and monitor the progress of work for the purpose of such verification.

Corporate finance – the area of ​​financial management, related to the sources of financing and capital structure of a company, which main goals are maximizing profits or increasing the capitalization of a business.

Diversification – the dispersal of resources (finance, personnel, time, etc.) in various areas of activity with the aim of dispersing entrepreneurial risks.

Dividends – a part of the company's profits distributed among shareholders, founders, participants in accordance with the number and type of shares, the size of the shares (stocks, stakes) held in their possession.

Divisional management structure – a hierarchical structure of enterprise management, under which the organization is divided into divisions possessing a great degree of freedom.

Due diligence – the procedure for drawing up an objective view of the investment object through comprehensive financial, legal, management analysis.

Feasibility study – a document containing information on the feasibility of financing an investment project and the possibility of its implementation.

Financial leverage – any method associated with the use of borrowed funds when buying an asset, with the expectation that the revenue from the increase in the value of assets will exceed the cost of borrowing.

Financial model – an abstract sample of the alleged or existing financial situation with respect to a particular object, transaction.

Forensic – an independent financial and economic investigation into company executives and middle managers, initiated by the owners.

Franchise – a complex of rights to use brand components, as well as the right and duty to use the franchisor's business model.

Growth-share matrix – a tool for analyzing the relevance of the company's products, based on their position on the market relative to the growth in demand for this product and occupied the market share chosen for the company's analysis.

HR consulting – consulting services provided to managers and specialists of organizations on issues of corporate culture and HR management.

Innovative management – management of changes and of innovative processes in business.

Investment project – any business project that involves financial investments and the subsequent profit, thanks to those.

Kaizen – a Japanese business practice that focuses on the continuous improvement of the production and product development processes, supporting and managerial business processes, as well as other aspects of business and life in general.

Key Performance Indicators (KPI) – a measure of the productivity (efficiency and effectiveness) of a company, a structural unit, workers, a project.

Lean production – the concept of managing a production enterprise, based on a constant desire to eliminate all types of losses.

Management accounting (managerial accounting) – an orderly system for identifying, measuring, collecting, recording, interpreting, summarizing, preparing and providing information on the economic activities of the organization and its internal structural units necessary for making managerial decisions.

Management consulting – activities aimed at improving the forms of management and business.

Marketing Mix (Theory 4P) – a marketing theory based on the four main "coordinates" of marketing planning: product, price, promotion, place.

Marketing strategy – a plan to maximize sales and increase competitive advantage in the long term.

Mentor – a businessman who has knowledge of the scope of a certain activity and the experience of success in it.

Mission (company mission) – the main reason for the existence of business.

Monetization – the identification and introduction of new sources of business profits.

M&A (mergers and acquisitions) – a set of measures aimed at merging two or more companies into one corporation with a single managing body (in the form of merger, acquisition or accession), which is accompanied by the transfer of control over business management from one company to another.

Offering memorandum – a document structurally describing the main aspects of an investment project; is intended for demonstration to the investor.

Organizational culture – a set of rules of behavior in the internal and external environment, in vertical and horizontal relations, which are established and observed in the organization.

Organizational diagnostics – the practice of comprehensive business testing in order to identify potential problems, the reasons for the existing difficulties in work, growth points and strengths of the company.

Outplacement – the employer's activities for the employment of dismissed employees.

Outsourcing – the transfer of the functions of a staff unit (or several staff units) by  an organization to another company specializing in these functions on the basis of a civil law contract.

Outstaffing (staff leasing) – transfer of some employees to the staff of another company, with which the contract is concluded for the performance of work / services provided by these employees.

PEST analysis – a marketing tool designed to determine the political, economic, social and technological factors of the external environment that affect or are able to influence the company's operations.

Procurement – a set of business tools used in procurement management, lease of objects, distribution of orders.

Project management – the sphere of management, the main task of which is the achievement of specific project objectives through the balance of resources and risks.

Quality management – the operational activity carried out by the company management that affects the process of creating products in order to ensure its quality by performing the functions of planning and quality control, communication (information), developing and implementing measures and making quality decisions.

Quality management system – a set of business processes focused on the constant satisfaction of customers' requirements and increasing their satisfaction.

Restructuring – a consulting service to review and formalize the organizational structure of the company.

Results-based management – a strategy for managing all activities and using resources to achieve clearly defined and demonstrable results.

Risk management – the process of making and executing management decisions aimed at reducing the likelihood of an unfavorable outcome and minimizing possible project losses caused by its implementation.

Scenario planning – a part of strategic planning, relating to tools and technologies that can manage the uncertainty of the future.

Six forces model – an analysis model used to provide a holistic assessment of any industry and determine the structural factors that determine the dynamics of profitability and competition.

Six sigma – the concept of improving the quality of outputs of each of the processes, minimizing defects and statistical deviations in operating activities.

Startup – a newly created company which goal is to meet market needs by developing a new viable business model.

SWOT analysis – a method of business planning, which consists in identifying the factors of the internal and external environment of the organization and dividing them into four categories: Strengths, Weaknesses, Opportunities, Threats.

Talent management – a fundamental instrument of human resource management of the organization, which consists in applying the most effective mechanisms of attracting, using, retaining personnel and creating an abstract image of the required human capital with planning ways to achieve it.

Value Added Reseller – a company that modifies and expands the capabilities of an existing product, and then resells it as a new product.

Value engineering – a method of system analysis of the functions of an object in order to find a balance between cost and utility.

Vision (company vision) – an extremely specific description of the business dream, the desired image of the business in the future.

White paper – a description of the architecture of the ICO project for acquaintance of potential investors with it.

XYZ analysis – an assessment of the importance of the company's resources, depending on the frequency and nature of their consumption.


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