Management consulting involves providing advice to corporate, government, and nonprofit clients to help solve business problems. Consulting firms focus on various areas like strategy, IT, HR, and provide team-based work. Some reasons clients hire consultants include lack of internal knowledge or skills, needing a flexible labor pool, and wanting a fresh perspective. A typical consultant's week involves client meetings, interviews, research, and using Excel/PowerPoint to build presentations. While travel and long hours present challenges, consulting also offers opportunities for challenging work, career development, and working with smart colleagues.

1. Management ConsultingCarrier Perspective

2. What is Consulting?Product / Service: Ability to solve business problems.Team-based WorkClients: leaders of corporations, governments, and non-profit groups.www.deepakpareek.com

3. Consulting FirmsFocus: 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 Bergerwww.deepakpareek.com

13. Why Hire Consultants?Lack of Knowledge or SkillsFlexible Labor PoolFresh PerspectivePoliticswww.deepakpareek.com

14. Typical WeekFRITHURSWEDTUESMON3-4-5 RuleActivities: Interviews, meetings, research, data analysis, building “decks”.Excel & Powerpointwww.deepakpareek.com

15. Lifestyle: the Bad and the UglyTravelHoursVs Banking“on the beach”Consulting: What is it again?Implementationwww.deepakpareek.com

16. Lifestyle: the GoodChallenging WorkSmart peopleCareer developmentTraining & VarietyAccess to ManagementJumping to Industrywww.deepakpareek.com

17. ResearchIs Consulting for You?Which Firms?Sound like an InsiderConsulting LingoTrends and Current Topicswww.deepakpareek.com

18. Getting a JobYour StoryWhy Consulting? Why Our Firm?Be GenuineNetworkingCase Interviewswww.deepakpareek.com

19. NetworkingCorporate Presentations & MCA EventsAlumni: SWAP & CAPAsk Smart QuestionsDress & Etiquettewww.deepakpareek.com

20. Case InterviewVarious FormatsCasing Boot CampBooks:Case in Point by Marc P. CosentinoCrack the Case by David OhrvallMastering the Case Analysis by Alexander ChernevWetFeet Guides (Ace Your Case I to VI)The Vault Guide to the Case Interviewwww.deepakpareek.com

21. Introduction to Management Consultingwww.deepakpareek.com

22. To give an overview of the courseTo know the definition, history and purpose of management consultingTo understand the consultancy market: the main players, industry segmentation, clients and trendsTo gain an overview of the consulting life-cycleTo understand the basics of approaching cases, guestimating and analysing.Today’s Learning Objectiveswww.deepakpareek.com

23. The CourseWhat is Management Consulting?Who are Management Consultants?ClientsAnalysing CasesThe Agendawww.deepakpareek.com

24. The CoursePractical, Practical, Practical……Case-based (Harvard)Develops skillsGet jobsHighest retention ratesTo…Understand ConsultancyAnalyse businessesDevelop solutionsNo...BooksTheoriesBullshitwww.deepakpareek.com

25. The Course Pt. IIntroduction to ConsultingOverview of ConsultingDesigning your own firmProposals and PlanningPlanning, Costing and ProposingAssignment: Speaker from StayMobile Ltd.Strategy Consulting & Market AnalysisAnalysing TrendsMaking RecommendationsIT & e-CommerceRequirements ManagementE-businesswww.deepakpareek.com

26. The Course Pt. IIDark Sides of ConsultingStress, manipulation and exploitationIllegal trades: Enron, Parmalat, WorldComSpeaker Day 1: Consulting WorkEDS & DeloitteManaging DeliverySpeaker Day 2: Analysis with SSMJeremy Hilton: Private ConsultantMethodologies & ModellingSpeaker Day 3: Consulting Careers and CVsIBMGetting a job & getting onwww.deepakpareek.com

27. What is Management Consulting?www.deepakpareek.com

28. Historical & Future TrendsBig 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 FirmsAccenture (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, BCGMcKinseyBain & CoADL, BCGMcKinseyBain & CoADL, BCGMcKinseyBain & CoKPMG / DeloittePWC / EYPWC / EYKPMG / DeloitteAccenture / IBMAccenture / IBMSizeProgram ManagementImplementationOperationStrategywww.deepakpareek.com

35. SegmentationIndustryTelcos - HealthDigital Media - ManufacturingFinance & Banking - FMCG& RetailUtilities - TransportationFunctionStrategy - HRMOperations - IT (incl. e-business)SectorNon-profitPublicPrivatewww.deepakpareek.com

36. Strategy ConsultantsDiamondSapientOliver WymanMcKinseyScientA.T. KearneySoftware ProvidersService providers/ UtilitiesDeloitteEDSPwCCSCIBMAccentureTechnology ProvidersA Consulting Typologywww.deepakpareek.com

37. Sector Analysis Pt. IStrategyDirection, Long-term plans & High-level goalsLever to implementationBain & Co. - BCGMcKinseys - MonitorOperationsDay-to day running of firm, Reaching, strategic goalsRe-engineering, outsourcing, supply-chainsAccenture - DeloitteCap Gemini - CSCwww.deepakpareek.com

38. Sector Analysis Pt. IIITSystems development, implementationBusiness focused requirementsIBM - AMS (American Management Systems)Accenture - CSCHRMStrategic alignment of people functionERP, training, culture change, competence managementAccenture - PWCMercer - AT Kearneywww.deepakpareek.com

39. Consulting ProductsProducts have a name, a methodology, an application and great PRConsultants are charged with introducing ‘fashions’

40. Who are Management Consultants?www.deepakpareek.com

41. What is a Management Consultant? Not the brightest and the bestNot all Harvard MBAs or even business studentsNot Magicians, Preachers or Witch-Doctorswww.deepakpareek.com

42. Broad set of general consulting competenciesDepth of expertise: skill or knowledge basedSkill ProfileSkills: Outstanding interpersonal skills

43. Great Presenter

44. Excellent at writing reportsKnowledge: Generalist business knowledge

45. Methods & Frameworks

46. In-depth specific skillwww.deepakpareek.com

47. Basic Salaries (UK)Graduate £20 – 26kJunior Project Lead £30 – 35k Team Leader £40 – 60kSenior Consultant £60 – 80kPrinciple Consultant £70 – 100kPartner £100k ++ 10 – 20% bonus+ car+ health care, share optionsHighest salaries earned at niche consultancieswww.deepakpareek.com

48. Design your own ConsultancyIn 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 RequiredStructure & FunctionMajor CostsKey problemswww.deepakpareek.com