2. Management Consultancy
• Definition:
As defined by Larry Greiner and Robert Metzer,
“Management consulting is an advisory service contracted for and provided to
organizations by specially trained and qualified persons who assist, in an objective and
independent manner, the client organizations to identify management problems, analyze
such problems, recommend solutions to these problems, and help, when requested, in
the implementation of solutions”.
• Role of a Management Consultant:
They often bring their own proprietary methodologies or frameworks to guide
the identification of problems, and to serve as the basis for recommendations for more
effective or efficient ways of performing work tasks.
3. History of Consultancy
• The field of Consultancy flourished in the later half of the 19th century.
• Industrial Revolution and modernization played a major role in the flourishing of
Consultancy as a sector.
4. Facts about Indian Consulting Industry
Largest concentration of consultancy organisations is in the four metropolitan cities:
• Delhi (25.7%) has the highest number of consultancy organisation among
four metropolitan cities followed by,
• Mumbai (25.5%),
• Chennai (12.1%) and
• Calcutta (9.1%).
5. Major Players in Consultancy
1. McKinsey & Company
2. The Boston Consulting Group
3. Bain & Company
4. Deloitte Consulting
5. Booz Allen Hamilton
6. PricewaterhouseCoopers Advisory Services LLC
7. EY LLP Consulting Practice
8. Accenture
9. KPMG LLG (Consulting Practice)
10. IBM Global Business Services
http://www.vault.com/company-rankings/consulting/best-consulting-firms-
prestige/?pg=5
6. Percentage Split by Business Divisions
6.8
11.09
21.7
31.2
28.4
Corporate Strategy
Outsourcing Services
Human Resource Management
IT
Operations Management
7. Opportunities & Salaries
• http://www.advisoryhq.com/articles/top-management-consulting-firms/
• http://www.payscale.com/research/IN/Job=Management_Consultant/Salary
• https://www.sumhr.com/top-hr-companies-india-list/
No. Firm Avg Salary (In LPA)
1 The Boston Consulting Group 31.5
2 Bain & Company 28.9
3 A. T. Kearney 27.4
4 McKinsey & Company 22.3
5 Accenture 17.6
6 Booz & Company 14.4
7 TATA (TSMG) 11.5
8 Deloitte 10.3
9 Ernst & Young LLP 9.3
10 Price Water House Coopers 7.1
8. Upcoming Trends in the field of
Consultancy
• Fast growth.
• One stop for all your solutions.
• Shortage of people.
• Nature of projects moving towards high-end strategy consulting.
• Public Sector consulting projects.
• Global management consulting firms.
9. Skill Sets
• IT
1. Technical skills.
2. To be trust worthy.
3. To communicate openly.
• Finance
1. Excellent analytical skills.
2. Interpersonal skills.
3. Good at making financial reports.
• Managerial
1. Critical thinking.
2. Creativity.
3. Communication skills.
10. Skills that make a good Consultant
• Presentation skills.
• Building a good rapport.
• Project and visual management techniques.
• Effective influencing skills.
• Persuasion skills.
• Communication skills.
