About Management Consulting

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An overview of Management Consulting Industry

An overview of Management Consulting Industry

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  • 1. Management Consulting
    Carrier Perspective
  • 2. What is Consulting?
    Product / Service: Ability to solve business problems.
    Team-based Work
    Clients: leaders of corporations, governments, and non-profit groups.
    www.deepakpareek.com
  • 3. Consulting Firms
    Focus: Strategy, IT, HR, etc.
    Industry: Healthcare, Financial Services, etc.
    • McKinsey & Company
    • 4. Boston Consulting Group
    • 5. Bain & Company
    • 6. Booz Allen Hamilton
    • 7. Monitor Group
    • 8. Mercer Oliver Wyman
    • 9. Deloitte Consulting
    • 10. Accenture
    • 11. Kurt Salmon
    • 12. Roland Berger
    www.deepakpareek.com
  • 13. Why Hire Consultants?
    Lack of Knowledge or Skills
    Flexible Labor Pool
    Fresh Perspective
    Politics
    www.deepakpareek.com
  • 14. Typical Week
    FRI
    THURS
    WED
    TUES
    MON
    3-4-5 Rule
    Activities: Interviews, meetings, research, data analysis, building “decks”.
    Excel & Powerpoint
    www.deepakpareek.com
  • 15. Lifestyle: the Bad and the Ugly
    Travel
    Hours
    Vs Banking
    “on the beach”
    Consulting: What is it again?
    Implementation
    www.deepakpareek.com
  • 16. Lifestyle: the Good
    Challenging Work
    Smart people
    Career development
    Training & Variety
    Access to Management
    Jumping to Industry
    www.deepakpareek.com
  • 17. Research
    Is Consulting for You?
    Which Firms?
    Sound like an Insider
    Consulting Lingo
    Trends and Current Topics
    www.deepakpareek.com
  • 18. Getting a Job
    Your Story
    Why Consulting? Why Our Firm?
    Be Genuine
    Networking
    Case Interviews
    www.deepakpareek.com
  • 19. Networking
    Corporate Presentations & MCA Events
    Alumni: SWAP & CAP
    Ask Smart Questions
    Dress & Etiquette
    www.deepakpareek.com
  • 20. Case Interview
    Various Formats
    Casing Boot Camp
    Books:
    Case in Point by Marc P. Cosentino
    Crack the Case by David Ohrvall
    Mastering the Case Analysis by Alexander Chernev
    WetFeet Guides (Ace Your Case I to VI)
    The Vault Guide to the Case Interview
    www.deepakpareek.com
  • 21. Introduction to Management Consulting
    www.deepakpareek.com
  • 22. To give an overview of the course
    To know the definition, history and purpose of management consulting
    To understand the consultancy market: the main players, industry segmentation, clients and trends
    To gain an overview of the consulting life-cycle
    To understand the basics of approaching cases, guestimating and analysing.
    Today’s Learning Objectives
    www.deepakpareek.com
  • 23. The Course
    What is Management Consulting?
    Who are Management Consultants?
    Clients
    Analysing Cases
    The Agenda
    www.deepakpareek.com
  • 24. The Course
    Practical, Practical, Practical……
    Case-based (Harvard)
    Develops skills
    Get jobs
    Highest retention rates
    To…
    Understand Consultancy
    Analyse businesses
    Develop solutions
    No...
    Books
    Theories
    Bullshit
    www.deepakpareek.com
  • 25. The Course Pt. I
    Introduction to Consulting
    Overview of Consulting
    Designing your own firm
    Proposals and Planning
    Planning, Costing and Proposing
    Assignment: Speaker from StayMobile Ltd.
    Strategy Consulting & Market Analysis
    Analysing Trends
    Making Recommendations
    IT & e-Commerce
    Requirements Management
    E-business
    www.deepakpareek.com
  • 26. The Course Pt. II
    Dark Sides of Consulting
    Stress, manipulation and exploitation
    Illegal trades: Enron, Parmalat, WorldCom
    Speaker Day 1: Consulting Work
    EDS & Deloitte
    Managing Delivery
    Speaker Day 2: Analysis with SSM
    Jeremy Hilton: Private Consultant
    Methodologies & Modelling
    Speaker Day 3: Consulting Careers and CVs
    IBM
    Getting a job & getting on
    www.deepakpareek.com
  • 27. What is Management Consulting?
    www.deepakpareek.com
  • 28. Historical & Future Trends
    • Big player recovery from 2000 - 2003 (DotCom bust)
    • 29. Accountability (Chinese Walls, Enron, Sarbanes-Oxley, Basel II)
    • 30. Diversification (M&A, Internationalisation, Sectors)
    • 31. Image (MBAs, Up selling, Over-charging, Facsimile Consulting)
    • 32. Projects (outsourcing, e-business, protection vs. emergent markets)
    • 33. Competition (numbers, approved lists, proven track record, sceptical clients)
  • The Biggest Consulting Firms
    Accenture (IT, Operations, HRM)
    Cap Gemini (IT, Operations)
    CSC (IT, Operations)
    IBM BCS (IT)
    PWC (IT, Operations, HRM)
    KPMG / Bearing Point (IT, Operations)
    Deloitte (IT, Operations)
    McKinsey & Co. (Strategy, Operations)
    BAH (Strategy, Operations)
    Mercer (Strategy, HRM)
    Anderson (Operations)
    A. T Kearney (Strategy, HRM)
    Monitor (Strategy)
    BCG (Strategy)
    A.D. Little (Strategy)
    Bain & Co. (Strategy)
    www.deepakpareek.com
  • 34. So……Who’s doing what?
    ADL, BCG
    McKinsey
    Bain & Co
    ADL, BCG
    McKinsey
    Bain & Co
    ADL, BCG
    McKinsey
    Bain & Co
    KPMG / Deloitte
    PWC / EY
    PWC / EY
    KPMG / Deloitte
    Accenture / IBM
    Accenture / IBM
    Size
    Program Management
    Implementation
    Operation
    Strategy
    www.deepakpareek.com
  • 35. Segmentation
    Industry
    Telcos - Health
    Digital Media - Manufacturing
    Finance & Banking - FMCG& Retail
    Utilities - Transportation
    Function
    Strategy - HRM
    Operations - IT (incl. e-business)
    Sector
    Non-profit
    Public
    Private
    www.deepakpareek.com
  • 36. Strategy Consultants
    Diamond
    Sapient
    Oliver Wyman
    McKinsey
    Scient
    A.T. Kearney
    Software Providers
    Service providers
    / Utilities
    Deloitte
    EDS
    PwC
    CSC
    IBM
    Accenture
    Technology Providers
    A Consulting Typology
    www.deepakpareek.com
  • 37. Sector Analysis Pt. I
    Strategy
    Direction, Long-term plans & High-level goals
    Lever to implementation
    Bain & Co. - BCG
    McKinseys - Monitor
    Operations
    Day-to day running of firm, Reaching, strategic goals
    Re-engineering, outsourcing, supply-chains
    Accenture - Deloitte
    Cap Gemini - CSC
    www.deepakpareek.com
  • 38. Sector Analysis Pt. II
    IT
    Systems development, implementation
    Business focused requirements
    IBM - AMS (American Management Systems)
    Accenture - CSC
    HRM
    Strategic alignment of people function
    ERP, training, culture change, competence management
    Accenture - PWC
    Mercer - AT Kearney
    www.deepakpareek.com
  • 39. Consulting Products
    Products have a name, a methodology, an application and great PR
    Consultants are charged with introducing ‘fashions’
  • 40. Who are Management Consultants?
    www.deepakpareek.com
  • 41. What is a Management Consultant?
    Not the brightest and the best
    Not all Harvard MBAs or even business students
    Not Magicians, Preachers or Witch-Doctors
    www.deepakpareek.com
  • 42. Broad set of general consulting competencies
    Depth of expertise: skill or knowledge based
    Skill Profile
    Skills:
    • Outstanding interpersonal skills
    • 43. Great Presenter
    • 44. Excellent at writing reports
    Knowledge:
    • Generalist business knowledge
    • 45. Methods & Frameworks
    • 46. In-depth specific skill
    www.deepakpareek.com
  • 47. Basic Salaries (UK)
    Graduate £20 – 26k
    Junior Project Lead £30 – 35k
    Team Leader £40 – 60k
    Senior Consultant £60 – 80k
    Principle Consultant £70 – 100k
    Partner £100k +
    + 10 – 20% bonus
    + car
    + health care, share options
    Highest salaries earned at niche consultancies
    www.deepakpareek.com
  • 48. Design your own Consultancy
    In pairs: you and 20 consultants wish to start your own medium-sized consultancy. You will consult on general strategic management issues such as mergers and acquisitions, outsourcing and new product development.
    Write 10 scenarios (5 each) that you think might be likely to occur whilst running this consultancy. What functions, departments and skills will you need in the consultancy. Sketch a brief organisational design and strategy outlining:
    Skills Required
    Structure & Function
    Major Costs
    Key problems
    www.deepakpareek.com
  • 49. Clients
    www.deepakpareek.com
  • 50. Marketing Consultancy Work
    Finding a problem
    • External threats
    • 51. Mimicking others
    • 52. Falling behind: benchmarks
    • 53. New opportunities
    Marketing Consultancy
    • Links with top academics / Business Schools (HBS, MIT, Sloan)
    • 54. Links to conferences, institutions,
    • 55. Publications: books, journals, the press
    Getting in
    • Free surveys / research
    • 56. ‘Solution’ stories
    • 57. Referrals
    • 58. ‘Jumpers’
    www.deepakpareek.com
  • 59. Why Employ Consultants?
    Expertise
    Objectivity
    Someone to blame
    To save money
    External knowledge (e.g. best practice, benchmarking)
    www.deepakpareek.com
  • 60. Types of project
    Providing Advice: should I launch this product?
    Project Design: how should I launch this product?
    Implementation: install a system that will pay suppliers
    Functional Management: run our department for us
    www.deepakpareek.com
  • 61. Working With Clients
    Defining the project
    Open  Closed questions: Predicament > Definition > Solution
    Key Decision Makers
    Enticing the Client
    Free analysis
    Free juniors
    Corporate entertainment
    Successful Projects
    Contract, contract, contract
    Clear goals, roles & procedures
    Boilerplating & reuse
    Quick measurable wins
    Solid Conclusions
    The person not the project
    www.deepakpareek.com
  • 62. Initial Contact
    Proposal & Contract
    Definition
    Data Collection
    Data Analysis
    Review
    Disengaging
    Decision-making,
    Planning
    Intervention
    The Consulting Life-cycle
    www.deepakpareek.com
  • 63. Strategy: A Refresher
    www.deepakpareek.com
  • 64. Vision what values drive this company?
    Objectives where do we want to be?
    Plan how will we get there?
    Goals how will we know when we’re there?
    Programs streams for delivery
    What is Strategy?
    www.deepakpareek.com
  • 65. Porters Five Forces
    - Barriers, Buyer Power, Customer Power, Substitutes, Competition
    4 Cs
    - Customers, Cost, Competition, Company
    4 Ps
    - Product, Price, Promotion, Place
    Scenario Planning
    Strategy Tools
    www.deepakpareek.com
  • 66. Key Concepts
    BCG – Experience curve
    BCG – Growth Share Matrix
    McKinsey & Company – Strategic Business Units (SBUs)
    McKinsey & Company – Business strength matrix
    Brandenburg and Nalebuff – Value Net
    www.deepakpareek.com
  • 67. Analysing Cases
    www.deepakpareek.com
  • 68. Case 1: LightBox Inc.
    I am the CEO of a light-bulb manufacturer. I have developed an ever-lasting light-bulb.
    How much should I sell it for?
    What will the increase in our share-price be?
    www.deepakpareek.com
  • 69. Additional Information
    It cost £20 million to develop the product.
    It costs £5 to make the product
    Normal Lightbulbs
    Cost £0.5 to manufacture
    Are sold to distributers for £0.25
    Who sell to retailers for £0.50
    Who sell to the customer for £0.75
    What about the markets?
    Cannibalisation?
    Government?
    www.deepakpareek.com
  • 70. Case 2: Three
    The Company
    Hutchison Whampoa
    Owned by Li KaShing ($20bn)
    Family interests of $630bn
    Owns ports, telecoms, property (Hong Kong)
    The Context
    3G Telecoms: video & music over the phone
    1999: UK first gov. to sell 3G licences
    2000 – 2005: Followed by most others
    www.deepakpareek.com
  • 71. Case 2: Three
    The Decision
    Should Hutchison buy a 3G licence in the UK?
    How much should they pay for it?
    What strategic issues should they look out for?
    www.deepakpareek.com
  • 72. Links
    http://www.vault.co.uk
    http://www.mca.org.uk
    http://www.mbajungle.com
    http://www.consultingcentral.com
    http://www.feaco.org
    http://www.mca.org.uk
    http://www.amcf.org
    www.deepakpareek.com
  • 73. Contact Us
    www.deepakpareek.com
    deepak@deepakpareek.com
    www.deepakpareek.com
    +91 9898269489