Agreement Terms: Fill & Download for Free

Copy pasted this answer from: http://managementconsulted.com/core-content/dictionary/I haven't heard all the lingo used before, but it's pretty spot on.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 thing80/20 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 timeadding 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 (EOD): 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 workingB2B: business to business, referring to a company’s primary audience for sales and marketingB2C: business to consumer, referring to a company’s primary audience for sales and marketingbandwidth: 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 don’t think I’ll 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 consultantsBig 3: McKinsey, Bain, BCG aka “MBB”Big 4: Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopersBird’s eye view: high level viewBoil the ocean: as the name states, clearly an impossible task. 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 oceanbottoms-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 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: see buttoned-upbuttoned-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 meaningsbuy-in: agreement, support; it is unclear why ‘buy-in’ has come to supplant these terms, as no actual purchasing occursCAGR: compound annual growth rate. If you don’t know it, you won’t get very farcampus hire: a consultant hired directly from undergraduate or business schools, as opposed to “experienced hire”capacity: your available time and energy for additional taskscharge code: a unique code provided with each project/assignment to which you can charge work-related expensescircle 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 itselfcore 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 projectscrisp: 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 shatteringdeck: your Powerpoint slides, sometimes referring to the master “deck” for the teamdeep dive: similar to “double click”, this means a thorough in-depth exploration of a particular topicdeliverable: anything that is owed by you to your manager/team, or owed by team to clientdouble click: similar to “deep dive”, this means a thorough in-depth exploration of a particular topicdue diligence: comprehensive study/survey of a business model with an aim to set clear expectations, risks, dependencies, etc as part of a business proposalEBITDA: earnings before interest, taxes, depreciation, and amortizationelevator test: a test of one’s 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 rideengagement: also known as a project or a caseexperienced 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/companyGantt chart: type of bar chart that illustrates a project schedule with start and finish dates, deliverables, etcGMC: Global Management Consultancy, sometimes referring to just the Big 3, sometimes referring to the Big 3 plus the Big 4 accounting firmsgranular: 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”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 isn’t going to be around to help after thenhigh-level: similar to 5,000 mile view, but high-level can also mean a very rudimentary analysis (often lacking in detail)hope you’re 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 mailI 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 you’re in and who else is running.I’m calling to touch base:“I want something from you but I can’t say it up front.” Or “I am worried that you are lost and I’m sniffing around for signs to confirm my hunch.” Or “I’m 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’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 what’s been said; in this manner the listener can pretend he or she is a tape recorderlet’s close the loop:“Let me make sure I’m not going to get into trouble for this one.”let’s hit a home run: “I’m desperate to look good. Even though the odds of a home run are slim, I’m banking on one because it’s the only thing that’ll save me.” Something for all your sports fans to remember: If you have a bunch of solid hitters you don’t need a bunch of home runs.let’s 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.”let’s think out of the box: really means, “Can you creatively anemic people please come up with something?” The person who says, “Let’s 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, “I’m in trouble.”let’s touch base next week: “I don’t 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 “Let’s leverage this set of data”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 winMBB: McKinsey, Bain, BCG aka the “Big 3″MECE: mutually exclusive, collectively exhaustive. A term originating at McKinsey and common across management consulting firms, it’s 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 I’m drowning,” or “I would kill myself before I’d work on your project.”on board: the status of being assigned to a case, engagement, or projectopportunity cost: basic economic principle that describes the “cost” of the next best alternative foregone when making a decisionparadigm: 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”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 shoulderPIOUTA: pulled it out of thin air, also see “WAG” or “SWAG”pipeline: typically used to reference the current and upcoming list of client engagementsPOA: plan of actionproduction: in noun form, a department (either internal or outsourced) of the consulting firm that assists in producing the materials needed for presentations, meetings, etcprogress review: a periodic meeting (either internal or with the client) to review the progress made in the preceding periodprovide 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 it’s 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 whitepush 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 controversyQC: Quality control, typically referring to need to check for typos, grammar mistakes, calculation errors, etcquick 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 questionright sized: euphemism for downsizedrock 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, you’re 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 commentscope: the agreed-upon list of deliverables and boundaries that underpin any client engagementsea change: in between lake change and ocean changesniff test: as in evaluating food for rancidity, this term is used when gauging the viability or reasonableness of a particular analysis; var. smell testspace: a market, arena, field of endeavor, or general area, not to be confused with the area beyond Earth’s atmosphere; use of this term usually adds nothing in the way of descriptive value, as in “I don’t 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 mins.straw man: a construct presented purely for the sake of argument, with the implication that it is not designed to withstand repeated attackssummer: abridged noun form of summer internSWAG: 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 don’t you take the lead on putting together this document,” which may translate to, “I’m 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 don’t 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 doesn’t require leadership of anyone and on which they will certainly be working solotakeaway: 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 keyto 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 opaqueup or out: employee promotion policy where if you’re not promoted “up”, you’re counseled “out” of the company. Many consulting firms use up or out but not allupward feedback: the process of providing feedback “upward” to more senior employees, from managers to partnersutilization 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 jargonworkstream: a group of tasks that make up a project. Usage – “The team was developing various workstreams to complete the client deliverables”You and I are not on the same page: “Get on my page. Your page is misguided.” No one ever says, “We’re 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 you’re thinking.”

There are two problems here.First one, cooks at KFC do not know the actual recipe. From what I hear, all they have are couple of packets of seasoning mix with generic names, raw chicken, flour and other ordinary ingredients. They just clean the chicken pieces, cover it in the secret original breading recipe and fry them. It's the seasoning mix that gives the fried chicken its signature taste and all they get is the ready-to-use mix. They don't know how the secret seasoning mix is actually made.To put this in perspective, I assume you know what Maggi Noodles or Top Ramen are. They are instant noodles you can cook at home. It comes with a tastemaker that you add while making the noodles and it gives the noodles its taste. So every time you buy a packet of Maggi, you have access to their secret recipe - the tastemaker . Does that mean you can make something that would give the exact same taste as Maggi's tastemaker?​Apparently, this is how Coca-Cola keeps their secret recipe. Full article available here.Now even if you somehow got your hands on KFC's actual recipe - say by pulling off an Oceans 11, sadly it wouldn't really matter! Here's where the second and most important hurdle lies. You see, for companies like KFC or Coca-Cola or Maggi (read Nestlé), their taste is not their only weapon. It is a big one, but not the ultimate one. Their biggest weapon is their brand name!​The above image shows the comparison between actual preference and preference associated with brand name. Full article available here.A huge, huge number of people go to these stores not because (or may be I should say - not just because) of their products' taste. Its because of their brand name. They go to these stores because they think that these brands are big and famous, ergo their products should taste the best. Or they feel that food would be safer and more hygienic. Or because the food is cheaper. Or a hundred other reasons related to the brand itself. It would be absurd to think that they opt for these brands because KFC has the best fried chicken in the entire world. Or because Coca-Cola makes the-best-carbonated-drinks on the planet. Same goes for PizzaHut, McDonalds, FritoLay, Nike, Apple, Samsung and pretty much every branded company that runs a chain in any business.To put that in perspective, say a company EffTheBrands (ETB), somehow figured out how to make smartphones exactly the way Apple makes it and started selling them for half the price. Now if you, a customer, - while browsing on Amazon for smartphones - came across Apple's iPhone and ETB's say uPhone, which one would you buy?Or say I found out how to make cokes exactly how Coca-Cola makes it. Which one would you pick up at a supermarket? Coca-Cola's coke or the brand new EnerJi? Sorry - that's the best name I could come up with! :)You get the gist. And it is for this same reason every <insert any noun here> Fried Chicken fails to take off and KFC keeps ruling the market. At this point, it would take a serious, intentional, widespread health related mess up from KFC's side to make people look elsewhere for their fried chicken needs. The kind of mess up that made a dent on Maggi's reign on Indian instant noodles market.In short, it is safe to say that KFC's cooks starting their own fried chicken store is the least of KFC's worries!--------------- End of Original Answer ---------------Update [20151222]There are a few recurring questions in the comments section. For the benefit of anyone having the same doubts, I will address them below. A lot of them are about the seasoning mixes used by various companies. I do not have any first hand knowledge of the processes followed by any of these firms and the answers related to such questions are purely speculative.Jey asks : How do they manufacture the seasoning mix? factory? In such case wont workers wont be aware?Considering the scale of operations, yes - the mixes should be made in a factory setting. But that doesn't mean the workers would be aware of what they are making or adding or even who they are making the product for. If the process is highly spread out, one person would probably be involved in only one specific part of the manufacturing process and would hence be unaware of rest of the steps. Also, like with the cooks, all the worker might be told would be to add a the big packet labelled 'X' into the mixer at a particular time or temperature and then add another one labelled 'Y' and so on and so forth. More available here : KFC Original RecipePhoto of eleven unmarked vials of herbs that makes up the KFC Original RecipePhoto of the new vault in KFC's Louisville headquarters which holds a copy of the recipe signed by Sanders and the eleven vials containing the herbs and spices. Apparently KFC is going with hide-in-plain-sight strategy as this nondescript vault is in the Legal Dept and every door in the building looks the same.Suma N D asks : Then why dont the people who make the seasoning start their own business?If such companies outsources the manufacturing process of their star product, chances are there would be extensive Non-Disclosure Agreements and Non-Compete Clauses in place with the outsourced company. Industrial Espionage is, of course, a big deal and are dealt with very seriously by everyone involved. All these firms have deep pockets which buys them the best attorneys who in turn could make things extremely difficult for both the outsourced company and its personnel. The laws & agreements are usually so stringent & complex that even whistleblowing - that is, exposing any illegal or incorrect activities - could make them vulnerable to huge lawsuits, let alone revealing trade secrets. Check out this page which has a short list of whistleblowers in both private and public sectors.Joseph Dedrick asked : so why doesn't someone just take a bit of these ingredients, analyze them all and get it that way?There is a branch of chemistry called analytical chemistry which is used to analyze chemical components of materials. In the past, along with some insider information, this type of analysis has been used to duplicate things like adhesives. But it is extremely difficult and quite costly. Also, unlike almost purely chemical products like adhesives which only have a handful of major components, recipes are chemically speaking exceptionally complex with a huge number of chemicals involved in all kinds of combination. More on this available here : Why is the recipe of Coca Cola still a secret?Basavaraj B Vathar asks : What if I got the names of those classified herbs by any chance or if i got that same seasoning taste by mixing some herbs with trial and error. Then can't I start my own seasoning outlet because only their mixture is classified not the herbals?There are two major terms related to Intellectual Property of a company - Patents and Trade Secrets. KFC Original Recipe has been marked as a Trade Secret and has not been patented. One of the reasons it is not patented is because patents have expiry dates - typically around 20 years from date of filing. Also, for filing a patent, the original material would have to be submitted at the Patent and Trademark Office. This makes the recipe more vulnerable to being leaked. Also, the office is required to publish the patent applications publicly after a short time period. And even before the patent expired, anyone could access this publicly-published description of the ingredients & process and modify it slightly to avoid liability.Trade secrets on the other hand has no expiry date. As long as the company can keep it a secret from the public, its theirs. Companies do not have to submit the details to Government officials or register it. Nor do they need any approvals and hence the effect is immediate. On the other hand, unlike with patent, if anyone analyzes the product and "reverse engineers" it independently and/or without any information obtained illegally, s/he is free to use the same. They can even patent it then and thereby even prevent the original manufacturer from using it any further! References : [1] Patents or Trade Secrets? [2] Patents; Many companies will forgo patents in an effort to safeguard their trade secrets; [3] How KFC Keeps its Biggest Secret a Secret; [4] It pays to understand law on trade secrets - Louisville - Louisville Business FirstAgain, as mentioned in the answer, even overcoming these difficulties and nailing the seasoning mix's recipe wouldn't really matter because of all the brand name thing. And so, it doesn't make much sense in spending so much time and energy chasing something you cannot use publicly - since that might attract a lawsuit depending on how you found it out - and something that wouldn't really matter after all.

It stops the US government from exercising warrants worth about $250+ million because of stock market appreciation, in case of slow loan repayments.Per Bloomberg:Musk said in a Bloomberg Television interview with Betty Liu last month that Tesla would repay the money in five years.The funds, provided by the Advanced Technology Vehicle Manufacturing program to Tesla as well as Ford Motor Co. (F), Nissan Motor Co. and Fisker Automotive Inc., were approved in 2009.Warrants Tesla issued to the Energy Department as part of the loan agreements vest in 2018 if the loans aren’t paid off. They would enable the government to buy more than 3 million Tesla shares at a discount.“The value of those warrants is very substantial,” Ahuja said. “The terms of the original loan had a very good incentive for us to pay off the loan early.”The loan amendment “formalizes that and avoids the vesting of that warrant,” he said.Under the agreement, funds for the early payments will be generated from cash above a $200 million threshold “over our reservations balance,” Ahuja said.