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Consulting

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Consulting Powered By Docstoc
					    SKIT8
31 March 2010
   Ability to understand consultancy activities,
    opportunities and responsibilities.
Who are consultants???
 A person who gives professional advice or
 services in a specialist field.

What are consultants???
 Consultants are hired by
 companies/organizations to solve their
 problems while creating sustainable value
Industries Served (Example companies)    Specific work done
Automobile & assembly (GM)               Increasing market share
Chemicals (Dupont)
Consumer packaged good (P&G)             Increasing profitability
Electric power & natural gas (DTE)       Evaluate/introduce new
Financial services (Washington Mutual)   products/services
Marketing & sales
Metal & mining (ArcelorMittal)           Marketing/sales
Petroleum (Exxon Mobile)                 Logistics
Pharmaceuticals (Pfizer)
Social/government (WHO)                  Merger/acquisition
Telecommunications (AT&T)
   Ph.D. and Masters in all fields could and
    should apply
   McKinsey and BCG: most suitable for Ph.D.
    applicants
          Top tier
               McKinsey & Company
               Boston Consulting Group (BCG)
               Bain & Company
               Booz Allen Hamilton

          Others
               Monitor Group
               A.T. Kearney
               Mercer Management/Human Resource Consulting
               Accenture (technology consulting)
               Mercer Oliver Wyman
               ZS Associates (medical consulting)

For more details, go to http://www.vault.com/nr/consulting_rankings/consulting_rankings.jsp?consulting2008=2&ch_id=252
   Job description
       An IT consultant works in partnership with clients,
        advising them how to use information technology in
        order to meet their business objectives or overcome
        problems. Consultants work to improve the
        structure and efficiency and of an organization's IT
        systems.
   IT consultants may be involved in a variety of
    activities, including feasibility studies, business
    planning, marketing, project management, client
    relationship management and systems development.

   They may also be responsible for user training and
    feedback. In many companies, these tasks will be
    carried out by an IT project team. IT consultants are
    increasingly involved in sales and business
    development, as well as technical duties.
   Task typically involve:
       meeting with clients to determine requirements;
       working with clients to define the scope of a project;
       planning timescales and the resources needed;
       clarifying a client's system specifications, understanding their
        work practices and the nature of their business;
       travelling to customer sites;
       liaising with staff at all levels of a client organisation;
       defining software, hardware and network requirements;
       analysing IT requirements within companies and giving
        independent and objective advice on the use of IT;
   developing agreed solutions and implementing new systems;
   presenting solutions in written or oral reports;
   helping clients with change-management activities;
   project managing the design and implementation of preferred
    solutions;
   purchasing systems where appropriate;
   designing, testing, installing and monitoring new systems;
   preparing documentation and presenting progress reports to
    customers;
   organizing training for users and other consultants;
   being involved in sales and support and, where appropriate,
    maintaining contact with client organizations;
   identifying potential clients and building and maintaining
    contacts.
    3 rounds (after pre-screening)
    1. On-Campus (Advanced Problem Solving Test)
       - Practice version online
       - 1 hour, multiple choice, 26-30 questions
    2. Regional (Chicago office)
        - 3 interviewers
               - Chat (2-4 min)
               - Experience interview (8-12 min)
               - Case study (30-35 min)
    3. Final (office of choice)
        - Same as round 2
   Experience Interview
       Recent experiences in
           Leadership
           Teamwork
           Initiative
           Overcoming a challenge/obstacle
           Persuasion

       Preparation tips
           Prepare stories ahead of time (4-7)
           Look over your CV/resume (they can ask anything)
           Answer the question asked (modify stories)
           Let them know what YOU did
   Case Study
       1-on-1 interactive business exercise with interviewer
        based on real-life situation
       Types (categories) of business cases
           Improving profitability (almost all cases)
           Increasing market share
           Introducing a new product
           Entering new market
           Entering new geographical region
           Mergers & acquisition
           Competitive response

       Practice cases from recommended reading list
   Actual interview

       Interviewer states the background information and defines problem(s)
       Interviewee writes outline to solve problem and describe it to the
        interviewer
         Potential sources for problem (logic tree)

       Discuss potential sources with interviewer to pinpoint the source(s) of
        problem
       Give conclusion/summary (1-2 minutes)
         Restate problem
         What caused the problem
         Proposed solution to the problem

   Preparation tips

       Listen carefully to interviewer, he/she wants to help
       Interactive process, engage the interviewer
       Drive the case
    Things they look for

    1. Problem-solving skills

    2. Leadership ability

    3. Achievements: doing a great job!

    4. Personal impact: influence those around you!
   General practice tips
       Practice with different partners to feel different styles (form
        groups of 4 people)
       Make every practice count (try to be perfect each time)
       Practice every kind of case, especially ones you are weak at
       Join Ross School of Business Consulting club
         Informative seminars and lectures
         Many practice books

   Recommended readings
       Basic
         Vault guide
         Wetfeet guide
       Advanced
         Case in point (McKinsey style)
         Crack the case (Bain style)

				
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posted:9/20/2011
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