WHAT IS MANAGEMENT CONSULTING?
Management consulting is helping solve a problem and taking on the tasks that lead up to the final solution. Management Consultants come in when a business is having a problem or they need some sense of innovation or they're looking to start a project. What they do is, lay out all of the steps, the potential risks and the timeline. Few Management Consultants will perform the work while few will manage the work.
TYPICAL DAY AS MANAGEMENT CONSULTANT
The typical day as a Management Consultant differs based on whether or not you are on a local project or on a traveling project. If you are in Management consulting of Accenture and on a traveling project, then that's the most interesting day.
- Early Birds
For the traveling project the day typically starts on a Monday. You may have to wake up early to catch your flight for heading towards client site.
- Meeting after Reaching
This is when you will be facing client. Since you will probably sit in a big conference room or will join via Skype. With client you will discuss what work needs to get completed for the day and for the week.
- Team Lunch
Your whole team sits together for lunch.
- Work Inside Your Time Schedule
Sometimes the time schedule may extent if the work is massive and need extended time to complete.
- Dinner Together
All head for the dinner at the hotel or go out depending on how you are feeling.
- Preparation for Next Morning
After dinner with the team or without, you may prepare for the next morning or just relax.
TRAVELLING AS A MANAGEMENT CONSULTANT
As a consultant travelling traveling is like a double-edged sword.
On one way it is fun because you get to travel a lot and if you are young and you really don’t have much of a commitment then it makes it easier.
Traveling does wear out the body. Jet lag is real because you are literally on a minimum of two flights every week. You have to wake up early and go straight to the client site without taking a nap in-between and have to work till 8.00pm to 9.00pm. Traveling can be very fun but you have got to find your balance.
ROLES AND RESPONSIBILITIES OF A MANAGEMENT CONSULTANT
The roles and responsibilities depend on what industry you are working in.
- Translate Data Correctly
- Work with Strategy Team
- Be Knowledgeable about Entire Project
- Open to Receive Criticism
- Be Flexible with Your Personality
- Listening to the Needs
- Open to Client Feedback
HOW TO BREAK INTO MANAGEMENT CONSULTING
- Identify why you want to be in management consulting career.
- Acquire Leadership Skills
- Hone Your Communication Skills
- In what industry do you want to join as Management Consultant
- Leverage the work you have done in your past jobs.
BEST JOB SEARCH STRATEGY FOR ASPIRING MANAGEMENT CONSULTANTS
- Display Your Commitment Characteristics
- Get Mentoring from Senior Consultants
- Research on All the Companies You Want to Work
- How the Company is Giving Back to the Community
3 TIPS FOR MAKING YOUR RESUME STAND OUT FOR A MANAGEMENT CONSULTANT POSITION
- Add Numbers to Your Resume
- Add All Experiences
- Highlight Interest Outside of Your Work
3 KEY SKILLS EVERY MANAGEMENT CONSULTANT MUST HAVE
- Be Empathetic
- Outgoing Personality
INTERVIEW FORMAT FOR A MANAGEMENT CONSULTING JOB TITLE
- General Interview
- Observational Interview
- Case Interview
- Confirmation Interview
COMMON AND CHALLENGING INTERVIEW QUESTIONS RECOMMENDED FOR ASPIRING MANAGEMENT CONSULTANTS
- Tell us about a time where one of your experiences was able to produce tangible results.
- What are your future career goals?
- A company had many call centers and they were losing a lot of revenue they weren't making much profit and they were trying to cut down on a few expenses. What can be the best solution? Explaining why your answer can work is hard.
- What is Your Expectation from the Company?
WHAT RESOURCES WOULD BE RECOMMENDED TO PREPARE FOR MANAGEMENT CONSULTING INTERVIEWS
- Cracking the Case
- Visit the website of different firms, look for the Researches these firms publish. Read the scholarly articles that are available.
WHAT’S THE EXACT DIFFERENCE BETWEEN MANAGEMENT CONSULTING AND STRATEGY CONSULTING
- The difference is in the names itself
- Strategy Consultants are expert when it comes to research, putting together comparisons and providing options to select the best strategy. After the strategy is fixed, the work will be handed to Management Consultants.
- Strategic Consultants will give you the solutions from that you can choose. They will tell you why things are the way that they are. Then, the Management Consultant will come in and make sure the project has seen fruition.
- The Management Consultants typically have a team of people that will perform the work. They will do the analysis, they will build a prototype, and then they will make sure everything goes to fruition.
- The Management Consultants put everything together to reinforce the solution and to ensure that it has brought all the way out to the end meaning they managed the project.
DIFFERENCE BETWEEN INTERVIEW PROCESS OF MANAGEMENT CONSULTANTS AND STRATEGIC CONSULTANTS
With management consulting there are multiple interviews, First ne is to enter into the firm and afterwards, to choose what industry you will be working, you have to give interview for that.
CAREER PATH OF A MANAGEMENT CONSULTANT
- Entry-Level Analyst
- Manager Position
- Senior Manager or Managing Director
- Client Account Lead
- Partner of a Company
MAJOR CHALLENGES A MANAGEMENT CONSULTANT FACE
- Learn How to Relax a Little Bit More
Remember to put yourself first and take care of yourself.
- Learn How to Assimilate with Various kinds of People
- Ability to Open Up at Client Dinner