CONSPECTUS: Mode specificity is defined by the differences in reactivity due to excitations in various reactant modes, while bond selectivity refers to selective bond breaking in a reaction. These phenomena not only shed light on reaction dynamics but also open the door for laser control of reactions. The existence of mode specificity and bond selectivity in a reaction indicates that not all forms of energy are equivalent in promoting the reactivity, thus defying a statistical treatment. They also allow the enhancement of reactivity and control product branching ratio. As a result, they are of central importance in chemistry. This Account discusses recent advances in our understanding of these nonstatistical phenomena. In particular, the newly proposed sudden vector projection (SVP) model and its applications are reviewed. The SVP model is based on the premise that the collision in many direct reactions is much faster than intramolecular vibrational energy redistribution in the reactants. In such a sudden limit, the coupling of a reactant mode with the reaction coordinate at the transition state, which dictates its ability to promote the reaction, is approximately quantified by the projection of the former onto the latter. The SVP model can be considered as a generalization of the venerable Polanyi's rules, which are based on the location of the barrier. The SVP model is instead based on properties of the saddle point and as a result capable of treating the translational, rotational, and multiple vibrational modes in reactions involving polyatomic reactants. In case of surface reactions, the involvement of surface atoms can also be examined. Taking advantage of microscopic reversibility, the SVP model has also been used to predict product energy disposal in reactions. This simple yet powerful rule of thumb has been successfully demonstrated in many reactions including uni- and bimolecular reactions in the gas phase and gas-surface reactions. The success of the SVP model underscores the importance of the transition state in controlling mode-specific and bond-selective chemistry.