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Management Consulting

A Complete Guide to the Industry

Daryl Twitchell, Sugata Biswas

Publisher: Wiley, 1999 , 288 pages

ISBN: 0-471-29352-0

Keywords: Consulting

Synopsis:

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Management consulting is one of the most popular career choices for today's graduating students and career-changing professionals. The industry is growing fast, with many more organizations in need of consulting services than ever before and an overwhelming number of candidates seeking consulting positions. Each year, tens of thousands compete for the offers that ultimately only a few thousand will receive. Facing such intense competition, applicants for these positions need all the help they can get to be competitive with their peers.

Management Consulting is the first consolidated resource containing need-to-know information on every step of the management consulting job search. Seasoned consultants Sugata Biswas and Daryl Twitchell, who have worked with a wide range of industry leaders, candidates, and recruiters, have written a book that encompasses a full range of perspectives. They cover each step of the job search process in detail, providing valuable insider information on the profession, as well as tools and techniques to help you stand apart from the competition and land a job offer.

The book opens with an objective, candid picture of the industry, its players, and its evolution. The authors look at the origins and development of consulting as they explain who management consultants are, what they do, and where the best opportunities can be found. Essays by leading leading consultants, strategic planners, and academics provide perspectives on emerging trends and the future of consulting. You'll learn what it's like to be a practicing management consltant, from the professional development opportunities to the day-to-day balancing of work and private life. The authors walk you through the steps of a typical consulting project, from the initial definition of the problem to the final presentation of recommendations. They outline what will be expected of you, the typical work hours involved, and the many benefits and drawbacks of this demanding career.

A vital section of this book is the step-by-step method for successfully navigating the infamous case interview — often the "make or break" point as firms try to select the top candidates from the masses. All t takes is one abstract or technical question ("How much does a Being 747 jumbo jet weigh?") to knock you out of the running. The authors will teach you how to be properly prepared for these interviews as you work your way to an offer, and how to negotiate for the most attractive package.

In addition, the authors provide three unique appendices that are critical to a successful consulting job search:

  • Appendix I — fifteen of the most common case frameworks, useful to draw upon when answering case questions
  • Appendix II — 100 case questions and ten sample answers for interview practice
  • Appendix III — a directory of fifty consulting firms, including primary practice areas and recruiting contacts
By giving you a firm grasp of the industry and the skills you need to master the interviews, Management Consulting is an invaluable investment for your future in this exciting and rewarding profession.

Table of Contents:

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  • Introduction
  • Chapter 1 The Management Consulting Industry
    • The Role of a Management Consultant
    • The Consulting Product
    • The Range of Consulting Firms
    • Segmenting the Industry
    • The Evolution of Management Consulting
    • Continued Growth of the Profession
    • Emerging Trends in Management Consulting
      • Diversification of Consulting Services
      • Increased Firm Accountability
  • Chapter 2 The Consultant's Work and Lifestyle
    • The Management Consulting Firm
    • The Consulting Work Style
    • Steps in a Consulting Engagement
      • Step 1. Problem Identification and Definition
      • Step 2. Analysis
      • Step 3. Synthesis
      • Step 4. Presentation
    • The Consulting Lifestyle
  • Chapter 3 Perspectives on Consulting
    • Business Strategy and Consulting: A Theorist's View of Practice and a Practical View of Theory
      Barry Nalebuff, Yale School of Management
      • A Theory of Business
      • Complementors
      • Conclusion
    • The Work of Consulting
      Gary Neilson, Booz•Allen & Hamilton
      • Consultants Are Problem Solvers
      • The Changing Role of Consultants
      • The Changing Structure of Companies
      • Conclusion
    • Can Consulting Be a Career?
      Bill Matassoni, McKinsey & Company
      • A Professional Training Ground
      • An Agent of Change
      • A Personal Commitment
    • Customer-Driven Growth Strategy
      Charles P. Hoban, Mercer Management Consulting
      • Customer-Driven Growth Strategy
      • What Kind of Consulting Do You Want to Do?
    • The Generalist Approach to Consulting: The Strategic Value of Breaking Industry Barriers
      Paul Smith, Bain & Company
      • A Generalist Approach to Fundamental Strategic Issues
      • Challenging Orthodoxies
      • Strategic Insight
      • Realizing Business Objectives
    • Building a Healthcare-Focused Consulting Firm
      L. John Wilkerson, Harri V. Taranto, and Melissa Sabino, The Wilkerson Group, an IBM Company
      • Stages of Evolution
      • Thoughts on Culture
      • Conclusion
    • Innovation in Consulting
      George Stalk Jr., The Boston Consulting Group
      • The Company as a Laboratory
      • An Innovation: Time-Based Competition
      • The Excitement of Consulting
      • Building Long-Term Client Relationships
    • Selecting a Small versus a Large Firm
      Ellen McGeeney, Vertex Partners
      • Growth: Growth Is Good
      • Projects: A Passion for the Work Inevitably Breeds Success
      • People: They Had Better Pass the "Airport Test"
      • Culture: It Is the Sum of All the Little Small Things
    • The Internal Consulting Practice of Strategic Planning
      Catherine Arnold, Hoffman-La Roche Inc., Business Development and Strategic Planning
      • Corporate Strategic Planners versus External Consultants
      • The Purpose of Strategic Planning Groups
      • Professional and Personal Challenges
      • Required Skills
    • Consulting to the Financial Services Industry
      Steven E. Runin, Mitchell Madison Group
      • Emerging Challenges in the Financial Services Industry
    • Consulting in the World of Electronic Commerce
      Joseph B. Fuller, Monitor Company
      • Migration to an Electronic Environment
      • Erosion of Industry Boundaries
      • Enrichment of Strategic Analysis
      • Conclusion
    • Information Technology Consulting
      Rudy Puryear, Andersen Consulting
      • The Changing Role of Information Technology
      • A Critical Driver of Strategy
      • Changing the Practice of Consulting
    • Change Management Consulting
      Arun Maira, Arthur D. Little
      • Reactive Change
      • Anticipatory Change
      • Need for Continuing Innovation
      • Conlusion
    • The Evolving Role of Health Benefits Consulting
      Bruce Kelley, Watson Wyatt Worldwide
      • A Brief History of Benefits Consulting
      • Health Benefits Consulting
      • Cost of Labor
      • Contribution of Labor
      • Conclusion
    • Consulting to the Nonprofit Sector
      Laura Freebairn-Smith, Good Work Associates
      • The Three Sectors of the U.S. Economy
      • The Non-Distribution Constraint of the Nonprofit Sector
      • A Career in Consulting to Nonprofits
  • Chapter 4 Planning Your Consulting Career
    • Finding Your Niche in Consulting
    • Researching the Industry
    • Narrowing Your List of Firms
    • Prioritizing Short-Term versus Long-Term Interests
    • Getting Your Foot in the Door of a Firm
      • Step 1. Performing Targeted Research
      • Step 2. Refining Your Resume
      • Step 3. Speak to Knowledgeable Individuals
      • Step 4. Write a Cover Letter
  • Chapter 5 Mastering the Case Interview
    • The Parts of a Case Interview
      • Part I Greetings
      • Part II The Resume Review
      • Part III The Case Question
        • Step 1. Listen to the Question and Repeat
        • Step 2. Ask Clarifying Questions
        • Step 3. Structure Your Analysis with a Framework
        • Step 4. Discuss Each Category of the Framework
        • Step 5. Summarize and Conclude
      • Part IV Questions and a Wrap-Up
    • Practice Makes Perfect
    • Post-Interview Follow-Up
    • Responding to Rejection
  • Chapter 6 Negotiating Your Offer
    • Negotiating the Terms of an Offer
      Keith G. Allred, Harvard University
      • Negotiating a Favorable Deal for Yourself: The Art of Successfully Claiming Value
      • Enlarging the Pie: The Art of Creating Value
      • Making Allies Out of Your New Colleagues: The Art of Maintaining and Enhancing Relationships
      • Conclusion
  • Epilogue
  • Appendix I Fifteen Essential Frameworks
    • 3-C's (Company, Competitors, Customers)
      • Company
      • Competitors
      • Customers
    • 4-P's (Product, Price, Place, Promotion)
      • Product
      • Price
      • Place
      • Promotion
    • The Boston Consulting Group Growth-Share Matrix
    • Breakeven
    • Cost-Benefit Analysis
    • Internal-External Issues
    • Life Cycle
    • McKinsey 7-S's (Strategy, Skills, Shared Values, Structure, Staff, Systems, Style)
      • Strategy
      • Institutional Skills
      • Shared Values
      • Structure
      • Staff
      • Systems
      • Style
    • Porter's Five Forces
    • Profits
    • Ratio Analysis
    • Supply and Demand
    • SWOT (Strengths, Weaknesses, Opportunities, Threats)
    • Value Chain
    • Value Net
  • Appendix II One Hundred Case Questions and Ten Sample Answers
  • Appendix III Directory of Fifty Consulting Firms

Reviews:

Management Consulting

by Roland Buresund last modified 2007-08-07 17:21

Rating: ** (Bad)

Tells you how to get management consulting jobs. Pretends to be about the industry. Wastebasket material.


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