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Career in Consulting

Consulting Firms Link

Career in Consulting

Management consulting is the business of providing advice to firms who need access to a scope of expertise outside of their own firm. As a popular career choice for newly minted MBAs, it is an industry that is complicated to define because the title of "consultant" has many meanings within even among the top players in the field. A consultant may be a problem-solver contracted by a larger manufacturer to help fix a long-term problem using the latest methodology. A consultant may be a developer focusing on a recently merged company's network and systems, fleshing out the steps towards a successful synthesis. A consultant may be a person who never once does either of the two jobs previously stated.

It's important to remember that there are many slight variations to this role and that people usually have a particular role in mind when they use the term "consultant." The best definition may be: A professional analyst who assists major corporations in understanding complex business issues and developing and/or executing an action plan to address them.

Types of Consulting

While there are innumerable ways to classify the services that consultants provide and there is the realization that the industry will continually adapt to serve client needs, below is a list of some well-defined categories in the business.

* Strategy Formulation (markets, products, channels)
* Systems Implementation (SAP, Siebel, Internet)
* Change Management (organizational design, HR policy)
* Operations (supply chain, warehousing, distribution)
* Marketing (research, branding)
* Coaching (leadership, one-on-one)
* Mergers & Acquisitions (valuation, negotiation)

Factors to Consider

Being a consultant often times means making a significant change in work style, location, approach to problems and/or life balance. It is a very good idea to consider the following factors when targeting firms for employment.

Primary Differentiation Issues

* Lifestyle
* Industry / Function
* Generalist / Specialist
* Service Integration
* Prestige
* Location / Travel

Secondary Differentiation Issues

* Training / Education
* Exposure to Leadership
* Vision and Team Approach
* Clientele
* Career Path
* Knowledge Value
* Project Length