management consulting

[redcheerio]

i really like the case study guides at wetfeet.com
but i used them like 10 years ago.

OK, I'll order one or two from them and study from them. Or more? I also have one I ordered from Amazon that the readers there highly recommended.

Thanks, everyone!

 

[Giggly]

That stuff should be free!

 

[mmhmm]

Verbal and written communication skills are very important as are problem solving skills and initiative. I don't know if you can hone initiative but you can those other things.

Question:
Considering I have an engineering background but no business background, how much time would you recommend I spend practicing sample case studies, and how? What is the most efficient way to prepare?

(I've read that they give you case studies in the interviews based on "frameworks" to test how you think about and solve problems, but I haven't learned the frameworks or anything like that yet.)

Thanks!

this is a good start: minto's the pyramid principle

http://www.amazon.com/Minto-Pyramid-Principle-Writing-Thinking/dp/0273710516/ref=pd_sim_b6
http://www.barbaraminto.com/

i have the third edition... published in 2002
i couldn't find a good picture of this edition
when i did a quick google search so just took
a picture hahahha and facebooked it

 

[highlander]

this is a good start: minto's the pyramid principle

http://www.amazon.com/Minto-Pyramid-Principle-Writing-Thinking/dp/0273710516/ref=pd_sim_b6
http://www.barbaraminto.com/

i have the third edition... published in 2002
i couldn't find a good picture of this edition
when i did a quick google search so just took
a picture hahahha and facebooked it

Well, I have that book. What was it - $130? Bought a bunch of them. I gave it to several people who had problems with their writing skills. Mostly they were "Ps." They could communicate verbally very well but not effectively in writing. I never read much of it myself so perhaps I'm a hypocrite. It seemed overly structured to me. Maybe I would benefit from finishing it. I hear it's really good.

 

[redcheerio]

OK cool, thanks [MENTION=10491]mmhmm[/MENTION] and [MENTION=8936]highlander[/MENTION]!

Seems expensive and I'm already pretty good at writing (my INTJ hub who works in academic research said my writing style is exceptionally good), but if the book is that good, maybe I will get it after all. There is always room for improvement, especially since my current writing style is pretty much self-taught.

 

[chickpea]

i read most of this thread and still have no idea what a management consultant's purpose is.

 

[redcheerio]

i read most of this thread and still have no idea what a management consultant's purpose is.

Neither did I when I first heard of it. But I was interested enough to Google it and read up.

To oversimplify, they basically are consultants who help businesses figure out where they are going wrong in their management strategies, or to help them figure out new strategies and niches to help them get ahead in business. They have many different specialties, too. They tend to work with business leaders at the executive level.

I've noticed that businesses that work with management consultants tend to have less political problems and are more pleasant to work for, because the consultants help them with strategies to avoid them, and shed light on some of the areas that may be contributing to the problem.

 

[chickpea]

Neither did I when I first heard of it. But I was interested enough to Google it and read up.

To oversimplify, they basically are consultants who help businesses figure out where they are going wrong in their management strategies, or to help them figure out new strategies and niches to help them get ahead in business. They have many different specialties, too. They tend to work with business leaders at the executive level.

that's kinda sad. i'd hope that business executives would already know the strategies or else they wouldn't have gotten their jobs in the first place.

 

[redcheerio]

that's kinda sad. i'd hope that business executives would already know the strategies or else they wouldn't have gotten their jobs in the first place.

Well yeah, but the consultants have the advantage of working with many different executives from many different companies and industries, so they have a much broader perspective. The permanent executives are already good at MOST components of their jobs, but the consultants help them in the areas where they might have blind spots, and bring in new ideas from other industries they might not have considered.

 

[sculpting]

mmhmm's job sounded very awesome.

Redcheerio, bundle of kitten cuddles, you might also consider project management. My entp friend does this and it suits her very well. Her Ti can track the details very explicitly and her Fe can manage groups very well.

 

[redcheerio]

mmhmm's job sounded very awesome.

Redcheerio, bundle of kitten cuddles, you might also consider project management. My entp friend does this and it suits her very well. Her Ti can track the details very explicitly and her Fe can manage groups very well.

Thanks, Orobas, bundle of puppy cuddles!

I have done project management, and may continue to do so. While I like it somewhat, I find some of it a bit tedious. So while I like being the one to go to meetings, figure things out, and make decisions on behalf of the engineers I work with, it also requires a lot of Te skills like planning, scheduling, and enforcing deadlines. I'm guessing that's part of any job, but as you move up in project management, the Te part grows while the fun part shrinks.

However, the stage following project management looks appealing to me, the part where you do less of the Te stuff, and more of the strategic thinking. I'm hoping management consulting will help me minimize the middle Te part and get to the strategic part more quickly.

 

[Giggly]

Question:

So what if a company hires a team of management consultants and they come up with a plan for the company to implement but the company doesn't like that plan for whatever reason? Do they get a do-over? Is there a "90-day money back guarantee"?

 

[redcheerio]

Question:

So what if a company hires a team of management consultants and they come up with a plan for the company to implement but the company doesn't like that plan for whatever reason? Do they get a do-over? Is there a "90-day money back guarantee"?

My understanding from what I've read is that they work closely with the client the whole time they develop the strategy to be sure that they will like it and implement it.

[MENTION=10491]mmhmm[/MENTION]? [MENTION=8936]highlander[/MENTION]?

 

[highlander]

Question:

So what if a company hires a team of management consultants and they come up with a plan for the company to implement but the company doesn't like that plan for whatever reason? Do they get a do-over? Is there a "90-day money back guarantee"?

You would generally work with the client facilitating the development of the strategy and plan to make it as good as it can be and help increase the likelihood of it being adopted. Some consultants are better than others at this. There is no money back guarantee. The client generally pays you on a time and materials basis or there is a fixed fee for a specified scope, activities and deliverables which are documented in a contract.

I guess there are situations where a client might refuse to pay or ask for money back, if things get really screwed up. Normally that seems to happen on implementation projects vs. strategy projects though.

 

[Chloe]

wow, thanks mhm.. and highlander for this thread
it seems very interesting career...


my biggest concern about careers like this is that already mentioned in the thread - many people wonder are management consultants actually doing anything for real.. contributing... it's just like that with many similar careers... you wont be fully respected - in many cases - like if you're for example MD... but again, this was totally wrong path for me to take - go for what is respected haha... so ... i prefer a mix..

 

[redcheerio]

I have another question for anyone with knowledge about management consulting. ([MENTION=10491]mmhmm[/MENTION], [MENTION=8936]highlander[/MENTION], anyone else....)

I've read about how grads and MBAs will spend the summer practicing case studies, and that the interview process will sometimes comprise 9 one-hour interviews, grouped in 3 or 4 interview rounds.

Does it work the same way for people with 10+ years industry experience and no business education? If not, what would the expectations be?

Thanks!

 

[highlander]

I have another question for anyone with knowledge about management consulting. ([MENTION=10491]mmhmm[/MENTION], [MENTION=8936]highlander[/MENTION], anyone else....)

I've read about how grads and MBAs will spend the summer practicing case studies, and that the interview process will sometimes comprise 9 one-hour interviews, grouped in 3 or 4 interview rounds.

Does it work the same way for people with 10+ years industry experience and no business education? If not, what would the expectations be?

Thanks!

Never heard of this - not to say it doesn't happen. Maybe they do that with B-School graduates and strategy consulting or something.

 

[redcheerio]

Never heard of this - not to say it doesn't happen. Maybe they do that with B-School graduates and strategy consulting or something.

Yes, I'm referring to strategy consulting at places like Bain, McKinsey, and BCG. It could also be that the book I bought is describing the worst case scenario so that the readers will be sure to be prepared. Although I've seen people talk about case study interviews in various places online, too.

What kind of consulting do you do?

Edit: Sorry, I went back and saw that you already described it in post #5.