...CONSULTING FAQ ▪ Objective This is a BITS2BSCHOOL initiative to form a ‘Frequently Asked Questionnaire’ on Management Consulting for the aspiring consultants on this e-group. This FAQ has been compiled from answers provided by a panel of Consultant BITSians, to consulting relating questions posed by this group. ▪ FAQ Structure The questions have been classified into the following sections: B Schools and Academic background (pre and during MBA) Professional work experience (pre MBA) and expectations Post MBA Consulting experience Interpersonal Skills and Networking FAQ B SCHOOLS AND ACADEMIC BACKGROUND (PRE AND DURING MBA) Q1. When evaluating MBA programs, what are the key characteristics to consider for an aspiring consultant? In other words, what are the different parameters based on which, one can shortlist & differentiate universities for a consulting major. While Consulting companies recruit heavily from a core set of schools (typically 5 or 6 top schools), almost all Consulting firms recruit from most of the top 10 or top 15 schools. When evaluating an MBA program, it is important to consider the location, interest in living there and how good the program is. One can gather this information by networking with alumni and current students. While targeting a school with consulting in mind is one way to go, it is essential to keep an open mind. Most students figure out their interests and career paths while at school and not before. As...
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...p. 533). Summary of the Facts A.T. Kearney, one of the largest global management consulting firms was acquired by Electronic Data Systems (EDS), a leader in global information services, in 1995 for an estimated $600 million. The acquisition would allow EDS/ A.T. Kearney to be a “one stop shop” (p. 525) that could offer a broad range of services to their clients. This potential opportunity would be challenged by the potential difficulty of merging the two companies together. A.T. Kearney conducted a survey of “senior executives at Global 1000 companies to explore their attitudes towards the role of information technology in their businesses” (p. 525). The survey revealed that information technology was evolving. It was no longer being viewed as just a tool to increase productivity. Technology was being recognized as an important part of an organization’s strategic objectives because it could be used to “help solve problems, set new levels of service and create new distribution” (p. 525). The study reached the following main conclusions: • Technology has been integrated into business strategy. • Technology investments will increase. • Corporations are embracing the philosophy of restructuring and reengineering. • Senior management is becoming technology-literate as, across all industries, major corporations increasingly view themselves as “technology-oriented companies.” • Senior management expresses satisfaction...
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...Table of Contents WHAT IS CONSULTING? .................................................................................. 4 CONSULTING TRENDS AT FUQUA .................................................................................. 4 WHAT DO CONSULTANTS DELIVER? ............................................................................. 4 CHOOSING THE CONSULTING INDUSTRY AND A ROLE WITHIN IT ................ 5 WHY CONSULTING – PROS & CONS ............................................................................. 6 GAUGING THE CULTURE OF CONSULTING FIRMS........................................... 7 THE ROLE OF GEOGRAPHY .............................................................................. 8 THE MBA SUMMER INTERNSHIP EXPERIENCE................................................ 9 SOME AREAS ON WHICH TO FOCUS DURING THE INTERNSHIP ................... 10 TIME MANAGEMENT ............................................................................................... 10 ASSESSING THE FIT ............................................................................................... 10 MENTORING ........................................................................................................ 10 CLIENT FOCUS ..................................................................................................... 10 DEFINING THE INDUSTRY............................................................................. 10 THE NATURE OF THE WORK ...................................
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...The economic downturn has caused lots of companies to call into question their business tactics and pricing strategies. While reconsidering marketing practices may make good sense, you should not significantly change your pricing. An untimely price reduction can cause great financial stress on a company, sometimes driving them into bankruptcy. When in doubt, don’t turn to price reduction. Cutting prices with the hope that you will attract more business is a surefire way to reduce profitability. Then what is the solution? Conduct a Business Analysis That will help you to develop a clear image of how your business is working, considering the sum of all the constituent parts. After that, assess how your business has been developing and acknowledge areas of possible improvement. Track the success of your improvements over time, adjusting the changes so that they optimize the efficiency of your overall goal. In such a competitive business climate, making just the right changes is crucial to your success. Finally, make certain that your pricing matches the value of your services—not just your cost in providing them. If that means increasing prices, do it. Refine your Marketing The solution to surviving a recession isn’t cutting prices but smarter marketing to your target customers. Determine who you best customers are and research the best way to market your services to them. The most successful companies are the ones that can take advantage of a recession to enlarge their...
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...List of top consulting firms Following is an interactive list of the top consulting firms/companies around the world with such details as ranking, company name, website url, headquarters, year founded, approximate number of employees, male to female ratio, and other statistics. You can perform searches and sort the list (multiple column sort available, hold down shift). Our databases are frequently updated, be sure to bookmark and visit us often for updates and added stats. If you have suggestions or would like to see added features or stats you'd like to see feel free to email us your suggestions. Purpose: To summarize and provide beneficial statistical information about the consulting industry and provide quick access gateway to relevant companies and websites. Serving: Researchers, students, professionals, job seekers and all who seek information about top consulting companies. (10 characters max, no button to click, just type a few characters and see results) Type a company name to filter the list below for example: deloitte (your browser needs to support javascript) Note: Columns are sortable, you can multi-sort if necessary (shift + click) Rank | Consulting Firm | HQ | Industry | Type | # of employees | Year founded | Median age | Male | Female | 1 | McKinsey & Company * http://www.mckinsey.com * LinkedIn * Facebook * Twittersnapshot | Greater New York City Area | Management Consulting | Partnership | 15000 | 1926 | 29 | 67% | 33% | 2 | The Boston...
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...constitutes one of the firm's critical resources. This is where the Information Technologies (IT) play an important role in Knowledge Management (KM). The emergence of IT has provided other tools to better perform the activity of building knowledge capital. In particular, two important areas have led to the emergence of modern KM systems: communication (or network technologies) and relational databases. Gathering a lot of useful information from past consultancies in huge databases and facilitating the communication between employees thanks to new communication tools really facilitate the work of consultants. Indeed, thanks to these new tools, consultants start thinking explicitly about the underlying business processes which leads to more efficiency in their work. What’s more, one of the most remarkable changes about KM is the fact of being conscious about the existence of a KM process. Information technology has a critical role in raising this consciousness because its use requires the firm to re-evaluate the entire KM process and its role within the firm. This might lead to new business models and new ways to compete. To conclude IT plays a significant role to the emergence of KM by facilitating its process. 2) Knowledge Management is perhaps the most critical process within any type of firms. In particular for the consulting industry where knowledge itself constitutes one of the firm’s core products, an efficient KM becomes a key to succeed. Producing and selling knowledge...
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... Page: Conceptualization/Introduction 2 Vision/Mission 2 Principles 2 Services Offered 3-4 General Environment 4-5 Assessment of Environment 5-6 Opportunities/ Threats 7 Revenue 7-8 SWOT 9 Tactic and Strategy 9 Balanced Scorecard 10 Explanation of Financials 11-12 Financial Sheet 13 A. Conceptualizing Paper Our business, Resolute Group, will be a small to medium size consulting firm that utilizes our team member strengths in consulting and evaluating current and new businesses. Each team member will have hired a team that specializes in the respective field. Our customers are business leaders, managers, and even current potential business owners, looking to establish a position in the market of Albany, GA and surrounding counties. We will consult these customers on the multiple marketing avenues, the business strategy sector, as well as public relation avenues these businesses could take. Other consulting advice could also include, but not limited to, whom to speak with on establishing certain businesses, review of current and former financial statements, basic public speaking seminars, and internal organizational review. Mission Statement Initiating Dreams into Realities’ Vision Resolute Group looks to make more companies capable of competing in even the most uncertain markets. Guiding Principles/Policies As advisors and consultants to our community businesses...
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...and accounting, and front office outsourcing - which includes customer-related services such as contact center services. BPO that is contracted outside a company's country is called offshore outsourcing. BPO that is contracted to a company's neighboring (or nearby) country is called near shore outsourcing. Often the business processes are information technology-based, and are referred to as ITES-BPO, where ITES stands for Information Technology Enabled Service. Knowledge process outsourcing (KPO) and legal process outsourcing (LPO) are some of the sub-segments of business process outsourcing industry. In 2010, the Philippines surpassed India as the largest business process outsourcing industry in the world. After growing 20 per cent in 2012, the BPO industry of the Philippines is estimated to gross revenue of upwards to $25 billion by 2016. By these estimates, the Philippines' BPO industry will account for approximately 10 per cent of the nation's GDP. History Outsourcing is one such abstracted term that has, over time, amassed considerable positive momentum as well as negative baggage. Outsourcing has been around since the time of the hunters and gatherers. Those who were strong hunters hunted and those who were strong gatherers gathered. Simply put, the primitive society perhaps subconsciously recognized the importance of specialization and...
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...Staples Transforms Supply Chain Process to Maintain High Performance Client Background When the computer crashes as an entrepreneur is preparing for a crucial client meeting or the printer runs out of ink, business owners—big and small—know that they can count on Staples to head off a crisis, and keep their offices running smoothly. Staples invented the office supply superstore—and it was an entrepreneur who came up with the concept. In 1985, Tom Stemberg, a supermarket chain executive turned entrepreneur, struck upon the idea when his typewriter ribbon broke as he was preparing a business plan and he was unable to find a store that stocked the ribbon. That was when he realized that the business plan he should be pitching was for a supermarket for office supplies. This was in the early days of the personal computer revolution, and ten years before the dot-com boom, but Stemberg correctly foresaw the growth potential for a superstore that catered as much to the demands of a homebased business as Fortune®500 corporations. Two decades later, Staples is the world's largest office products company and number-one in sales and profits in the United States. Staples serves customers and businesses ranging from homebased businesses to Fortune®500 companies in 27 countries throughout North and South America, Europe, Asia and Australia. The company operates more than 2,000 office superstores and also serves its customers through mail order catalog, e-commerce, and contract businesses...
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...EBRAHIM EL KALZA: CONSULTING INTERN Ebrahim El Kalza prepared this case under the supervision of Professor James A. Erskine solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. Ivey Management Services prohibits any form of reproduction, storage or transmittal without its written permission. This material is not covered under authorization from CanCopy or any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Management Services, c/o Richard Ivey School of Business, The University of Western Ontario, London, Ontario, Canada, N6A 3K7; phone (519) 661-3208; fax (519) 661-3882; e-mail cases@ivey.uwo.ca. Copyright © 2004, Ivey Management Services Version: (A) 2004-04-27 Thats not at the Matthews standard! Youre going to have to perform at a higher level if you want to work here! Summer Associate Ebrahim El Kalza slowly rubbed his temples as his senior manager, Sherif Mahfouz, at Matthews Management Consulting stormed out of the client office they shared. It was early August 2003, and El Kalza had been in Abu Dhabi for only two weeks. Already his dream assignment was becoming a nightmare. He felt he could do no right, and was beginning to lose confidence in his abilities. This was...
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...Company’s background: McKinsey & Company is a privately owned management consulting firm that focuses on solving issues of concern to senior management in large corporations and organizations. Known among its employees simply as "The Firm" McKinsey & Company was founded in Chicago in 1926 by James O. ("Mac") McKinsey. McKinsey was a professor at the University of Chicago who pioneered budgeting as a management tool. Marshall Field's became a client in 1935, and soon convinced James McKinsey to leave the firm and become its CEO; however, he died unexpectedly in 1937. Today McKinsey has over 7,500 consultants in 90 offices across 51 countries. They help solve strategic, organizational, operational and technological problems, for some of the world's largest organizations. Clients include three of the world's five largest companies, two-thirds of the Fortune 1000, governments and other non-profit institutions. McKinsey also performs pro bono engagements for a number of charitable organizations and government agencies worldwide. 'Forbes' estimated the firm's 2005 revenues at $3.8 billion in its list of largest private companies. Company Intent To be the global leader in consulting industry, provide expertise consulting service to the worldwide clients. Company Mission To help the clients make positive, lasting, and substantial improvements in their performance and to build a great firm that is able to attract, develop, excite, and retain exceptional people. Key...
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...Case Accenture Accenture began in 1942 as Administrative Accounting Group, the consulting arm of accounting firm Arthur Andersen. In 1989, it launched as a separate business unit focused on IT consulting and bearing the name Andersen Consulting. At that time, though it was earning $1 billion annually, Andersen Consulting had low brand awareness among information technology consultancies and was commonly mistaken for its accounting corporate parent. To build its brand and separate itself from the accounting firm, Andersen Consulting launched the first large-scale advertising campaign in the professional services area. By the end of the decade, it was the world’s largest management and technology consulting organization. In 2000, following arbitration against its former parent, Andersen Consulting was granted its full independence from Arthur Andersen—but it had to relinquish the Andersen name. Andersen Consulting was given three months to find a name that was able to be trademarked in 47 countries, effective and inoffensive in over 200 languages, and acceptable to employees and clients—and that corresponded with an available URL. The effort that followed was one of the largest—and most successful—rebranding campaigns in corporate history. As luck would have it, the company’s new name came from a consultant at the company’s Oslo office, who submitted “Accenture” as part of an internal name-generation initiative dubbed “Brandstorming.” The consultant coined the Accenture name...
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...Third Party Risk Management: Job Description Intern-S15HEINTNG-IIMUDescriptionAbout Deloitte “Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients. These firms are members of Deloitte Touche Tohmatsu Limited (DTTL), a UK private company limited by guarantee. Each member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates. DTTL and each DTTL member firm is a separate and distinct legal entity. Each DTTL member firm is structured differently in accordance with national laws, regulations, customary practice, and other factors and may secure the provision of professional services in their territories through subsidiaries, affiliates, and/or other entities. In the United States, Deloitte LLP is the member firm of DTTL. Services are primarily provided by the subsidiaries of Deloitte LLP, including:• Deloitte & Touche LLP• Deloitte Consulting LLP• Deloitte Financial Advisory Services LLP• Deloitte Tax LLP In India, Deloitte LLP has the following indirect subsidiaries: Deloitte & Touche Assurance & Enterprise Risk Services India Private Limited, Deloitte Consulting India Private Limited, Deloitte Financial Advisory Services India Private Limited, Deloitte Tax Services India...
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...like "Premium Recruitment Consulting - Retained Executive and Board Search", "Turnkey Recruitment Projects", "Interim Management" and "Top Level Corporate Training". We find leaders who build winning business. As passionate experts in the executive search industry we build leadership teams for our clients every day. Orchestrating a process that ends in the hiring of world-class talent requires a true partnership with a trusted outside advisor. Maximise your exposure to the global executive talent pool and fully leverage the experience of our executive search consultants. We are the only consulting firm with our own non-commercial online Job Portal www.universalhunt.com. We have built a databank of more than 4 Million candidates over a period of time, which allows us absolute success in any mandate in shortest time span with 100% client satisfaction. We serve more than 900 international clients across all sectors and industries. We have clients in UK, Germany, Belgium, South Africa, Netherlands, Singapore, India, United Arab Emirates, Saudi Arabia, Bahrain, Oman, Qatar, Yemen, Libya, Tanzania, Kazakhstan, Tunisia, Jordan, Nigeria, Kenya and Malaysia, Uganda, Hongkong, Australia, USA and many other countries. Specialties Executive Search, Interim Management, Turn Key Recruitment, Corporate Training, Resume Writing Service Universal Hunt Private Limited, an International Business Consulting company with clientèle from various sectors and industries, in countries across Middle...
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...CONSULTANCY MEETING PROFESSION OR NOT - A CASE OF BAIN & COMPANY 1.0 Background information Bain & Company was established in 1973 by a group of seven former partners and managers from the Boston Consulting Group headed by Bill Bain. The company was originally headquartered in Lexington, Massachusetts on Militia Drive. By the end of the decade, the firm's headquarters were in Faneuil Hall Marketplace in downtown Boston. Under Bain's direction, the firm implemented a number of unconventional practices in its early years. Notably, Bain & Co. would work with only one client per industry to avoid potential conflicts of interest. Partners did not carry business cards and clients were referred to by code names to enforce client confidentiality. The company won clients by boardroom referrals rather than marketing, and claimed its consultants worked on increasing a company's market value rather than simply handing clients a list of recommendations. To win business, Bain demonstrated the increase in the price of their clients' stocks relative to the Dow Jones Industrial Average. The firm's founding was followed by a period of growth in the late 1970s and early 1980s as the firm opened offices in Menlo Park, California, London, Munich, Paris, and Tokyo. Another consulting approach used at Bain & Co. was accepting equity in lieu of fixed fees. An estimated 10% of Bain's revenue is derived from this equity participation or "success fees". For example, the firm took an ownership...
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