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Case Interview Basics Business Concepts Common Terms of Business

Common Terms of Business

Opportunity Costs

Find out why Opportunity Costs are relevant in case studies and why they are required to determine the attractiveness of various options in a case interview!

Economy of Scale and Economy of Scope

Leverage Economy of Scale and Economy of Scope to increase profitability in your consulting case interview.

The Tuckman Model

Tuckman's model outlines five fundamental stages of group development, namely: forming, storming, norming, performing, and adjourning. Learn what they mean!

Servant Leadership

Unlock the power of servant leadership and transform your team's potential with empathy, humility, and a commitment to serving others.

Net Present Value - NPV

Learn how to use the Net Present Value (NPV) to compare investments with different volatile cash flows over time and assess their attractiveness.

Balance Sheet

A Balance Sheet depicts the financial balance in terms of assets and liabilities/ equity. It can be seen as a snapshot of the company’s financial situation.

1 related question

Design Thinking

Design Thinking is a non-linear, iterative process that places creativity and problem-solving at its core with three elements: People, Process, and Place.

Income Statement

Get to know the essentials of an Income Statement and why it is a key financial performance indicator with our Case Interview Basics.

1 related question

Cash Flow Statement

The Cash Flow Statement belongs to the three financial statements besides the balance sheet and income statement. This article explains the differneces for you!

Supply and Demand

Learn everything about Supply and Demand in our Case Interview Basics. In a perfect market, demand and supply coincide at a zero-profit price!

Fixed & Variable Costs

Determine fixed and variable costs to better understand your cost structure in a consulting case interview. Our Case Interview Basics give you all the insights!

CAGR - Compound Annual Growth Rate

Learn everything you need to know about CAGR (Compound Annual Growth Rate) for your case interview ✔ Definition ✔ Formula ✔ Examples ✔ Applications ✔

2 related questions

The Scrum Framework: A Guide for Aspiring Consultants

As an IT consultant, you'll be tasked with identifying and mitigating project risks and maybe act in an agile role. We explain the basics of Scrum to you!

The Kanban Framework

Kanban is an effective tool for making intangible or invisible work more understandable. The focus is on improving the flow of work. Learn more at PrepLounge!

The Blue Ocean Strategy

The Blue Ocean Strategy advocates for the generation and seizure of new demand in untapped or uncontested market spaces. Learn how to apply it in our basics!

Lean Management

Lean Management relies on continuous improvement (Kaizen) and respect for people as foundational principles, promoting efficiency, responsiveness, and quality.

Peter Principle

The Peter Principle states that employees in hierarchies tend to rise to their level of incompetence since they are promoted based on past performances.

Emotional Intelligence

In a world where empathy is the ultimate currency, get the knowledge to uncover the untapped potential of emotional intelligence.

The Amazon Interview Questions

The Amazon company is known for its thorough interviews, especially the so-called "Behavioral Interview Questions. We explain how to ace them!

Information Technology Infrastructure Library (ITIL)

Experience the fascinating world of the Information Technology Infrastructure Library (ITIL) and get tips and tricks for seamless IT service management.


Explore DevOps: merging collaboration and automation for streamlined software development, rapid deployment, and groundbreaking innovation.

Five Dysfunctions of a Team

The five dysfunctions of a team can have fatal consequences for a company. You will find out why this is the case here.

Kolb's Learning Circle

This cycle provides a structured approach and describes the process of how people develop new skills and knowledge through their experiences.

Interpersonal Communication

Are you ready to learn more about interpersonal communication? Discover how to communicate well and pick up your counterpart.

Six Sigma

Discover the transformative power of Six Sigma as it revolutionizes industries by maximizing efficiency and minimizing defects like never before.

The Role of the Hypothesis in Consulting

Explore how hypotheses serve as guiding lights in the dynamic world of consulting, leading to innovative solutions and transformative outcomes.

The Roots and Effects of Inflation

Discover the fascinating roots and profound effects of inflation in this article and how to make savvy financial choices.

Amazon Leadership Principles

Discover how Amazon's leadership principles have contributed to the company's remarkable journey to success and how they help them to thirve.

Learning Organization

Organizations that prioritize continuous learning and growth are thriving. Learning organizations represent a transformative approach to businesses.

Theory of Planned Behavior

The Theory of Planned Behavior (TPB), developed by Icek Ajzen, offers a valuable framework for understanding the factors that drive human behavior.

Situational Leadership

Explore the realm of Situational Leadership and discover how to customize your approach to motivate and steer your team toward achievement.

Theory of Constraints

Uncover Dr. Eliyahu M. Goldratt's Theory of Constraints: pinpoint and optimize system bottlenecks for unmatched performance gains.

Herzbergs 2-Factor Theory

Herzbergs 2-factor-theory, also known as the two-factor theory or motivation-hygiene theory, was developed in the 1950s by Frederick Herzberg.

Capability-Based Planning

Capability-Based Planning: Strategic focus on core competences for sustainable success, dynamic approach for effective management consulting.

Unique Value Proposition (UVP)

The Unique Value Proposition is a clear statement that describes why a product or service is unique and valuable to customers.

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