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Introduction To Consulting Slides

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  • Transcript

    • 1.  
    • 2. Introduction to Management Consulting Dr. Joe O’Mahoney 2007
    • 3. Today’s Learning Objectives
      • 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.
    • 4. The Agenda
      • The Course
      • What is Management Consulting?
      • Who are Management Consultants?
      • Clients
      • Analysing Cases
      Management Consulting
    • 5. 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
    • 6. 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
    • 7. 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
    • 8. What is Management Consulting?
    • 9. Historical & Future Trends
      • Big player recovery from 2000 - 2003 (DotCom bust)
      • Accountability (Chinese Walls, Enron, Sarbanes-Oxley, Basel II)
      • Diversification (M&A, Internationalisation, Sectors)
      • Image (MBAs, Up selling, Over-charging, Facsimile Consulting)
      • Projects (outsourcing, e-business, protection vs. emergent markets)
      • Competition (numbers, approved lists, proven track record, sceptical clients)
      Razorfish, Sapient, Viant, iXL Experienced hires Niche: outsourcing, e-business, BPR 1990 - 2000 Arthur Anderson, KPMG, IBM, Deloitte, E&Y Graduates, MBAs Technical & Financial Specialisms 1970 – 1990 McKinseys, Bain & Co., Boston Consulting Group MBAs & Academics Strategic Management 1940 – 1970 AD Little, Booz, Allen, Hamilton, AT Kearney. Academics Technical Analysis 1890 – 1940 Typical Firms Hires Focus Dates
    • 10. 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)
    • 11. 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
    • 12. A Consulting Typology / Utilities Technology Providers Software Providers Service providers McKinsey IBM A.T. Kearney Oliver Wyman Deloitte Accenture PwC CSC EDS Scient Sapient Diamond Strategy Consultants
    • 13. 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
    • 14. 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
    • 15. Consulting Products Products have a name, a methodology, an application and great PR Consultants are charged with introducing ‘fashions’ Stern Stewart Stewart Economic Added Value 1993 CSC Hammer & Champy BPR 1993 Bain & Co. Reichheld Core Competencies 1990   MIT Peters & Waterman TQM 1998 Strategos / Harvard Hamel & Prahalad Value Chain Analysis 1985 Monitor / Harvard Porter Five Forces 1980 BCG Henderson Portfolio Analysis 1976 Organisation Consultant Product Dates
    • 16. Who are Management Consultants?
    • 17. 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
    • 18. Skill Profile
      • Skills:
        • Outstanding interpersonal skills
        • Great Presenter
        • Excellent at writing reports
      • Knowledge:
        • Generalist business knowledge
        • Methods & Frameworks
        • In-depth specific skill
      Depth of expertise: skill or knowledge based Broad set of general consulting competencies
    • 19. 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
    • 20. 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
    • 21. Clients
    • 22. Marketing Consultancy Work
      • Finding a problem
        • External threats
        • Mimicking others
        • Falling behind: benchmarks
        • New opportunities
      • Marketing Consultancy
        • Links with top academics / Business Schools (HBS, MIT, Sloan)
        • Links to conferences, institutions,
        • Publications: books, journals, the press
      • Getting in
        • Free surveys / research
        • ‘ Solution’ stories
        • Referrals
        • ‘ Jumpers’
    • 23. Why Employ Consultants?
      • Expertise
      • Objectivity
      • Someone to blame
      • To save money
      • External knowledge (e.g. best practice, benchmarking)
    • 24. 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
    • 25. 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
    • 26. The Consulting Life-cycle
      • Initial Contact
      • Project Definition
      • Initial Analysis
      • Formal Proposal
      • Contract
      • Project Implementation
        • Data Collection
        • Data Analysis
        • Decisions / Plan
        • Intervention
      • Review
      Initial Contact Definition Proposal & Contract Data Collection Data Analysis Decision-making, Planning Intervention Disengaging Review
    • 27. The Consulting Life-cycle Initial Contact Definition Proposal & Contract Data Collection Data Analysis Decision-making, Planning Intervention Disengaging Review
    • 28. Analysing Cases
    • 29. 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?
    • 30. 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?
    • 31. 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
    • 32. 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?
    • 33. 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
    • 34. Questions?

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