chicago gsb exp11 - introduction to consulting
TRANSCRIPT
INTRODUCTION TO STRATEGY CONSULTING
Chicago GSBEXP 11Barcelona, 20 October 2004
Marc Kitten
This material was used during an oral presentation; it is not a complete record of the discussion. It is based solely on publicly available information
1
FOREWORD: WHY DO YOU NEED TO UNDERSTAND MANAGEMENT CONSULTING?
Whatever you do, wherever you go, they will be there…
• 20% to 30% of MBA graduates join Management consulting firms
• Most consultants get management positions in the industry after a few years
• Most Fortune 500 corporations hire external consultants
1. You may become a consultant
2. You are likely to hire or work with an
external consultant
3. You will have ex consultants as
colleagues (consultants skills are
transferable)
You cannot escape consultants!
2
SUMMARY
• Management consulting firms offer a few thousands jobs every year. Those jobs are among the most competitive, especially with top strategy firms
• Whatever the role and the type of project, working as a consultant requires following a set of principles aligned with an organisation aimed at optimising efficiency and effectiveness
• If you want to become a management consultant, preparation will be key
3
HISTORICAL BACKGROUND
• During the later part of the 19th century, engineering, accounting and law firms started offering independent corporate counsel to fast-growing and increasingly complex industrial organisations in the US. Arthur D. Little was the first external consultant to bring operational effectiveness to its manufacturing clients
• It was not until the 1930s and the Great Depression that management consulting firms grew beyond a few founding partners, with the notable examples of McKinsey and A.T. Kearney
• A few years later, Marvin Bower was to transform McKinsey and the industry when he started developing the firm after the model of the law firms into the first strategy consultancy, dedicated to solve the problems of the CEOs
• The 70’s saw the real explosion of the industry with the rapid growth of new competitors: BCG as a Booz Allen spin-off, Bain as a BCG spin-off, etc
• Big audit firms like Andersen started to capture part of the strategy market through their consulting arms, to retreat a few years ago
• The latest development is the rapid emergence and growth of networks of independent consultants like Candesic, more closely aligned to the model of law partnerships
4
TYPES OF PROJECTS AT A MANAGEMENT CONSULTING FIRM
Even at strategy firms, pure strategy projects represent only one component of the activity
OperationsOther
OrganisationStrategy
Corporate vs. B.U.• Market analysis /Due diligence
• New product • M&A• Alliances
• Marketing, CRM, branding, pricing
• Financial engineering
• Risk management• Technology• Communication
• Organisational design & governance
• Performance management• Leadership• Sales force and channel management
Revenue growth or cost reduction• Purchasing & supply management• Change management and Process improvement–Logistics, supply chain–Manufacturing–Business process redesign–Business process outsourcing
CEO AGENDA
5Source: Business Week, Vault , Consulting city
0 2 4 6 8 10 12 14
Monitor
Roland Berger
Mercer + Oliver Whyman
Bain
Boston Consulting Group
Altran
A.T. Kearney (EDS)
Hewitt
Booz Allen & Hamilton
BearingPoint (ex KPMG)
Deloitte Consulting
McKinsey & Company
Cap Gemini Ernst & Young
IBM Business Consulting
CSC
Accenture
TOP 15 MANAGEMENT CONSULTING FIRMS WORLDWIDE BY SIZE
0 10000 20000 30000 40000 50000 60000 70000
Turnover, $b (Estimates 2002-2004) Employees (Estimates 2002-2004)
“Management” consulting is a broad concept: the bulk of it is in IT-related activities
Strategy consultants
6
THE MARKET FOR STRATEGIC CONSULTANCY IS CHANGING
Clients becoming much smarter consumers
Value of “Top Level” strategy-only projects hard to justify
Increased competition from I-Banks, Big-5, niche consul-tancies, research houses
Dynamic market and economy
Strategy Consultancy
7Source: UK Management Consultancies Association
4,08419,063
36,009
111,493
156,608
180,045168,987
180,951175,000190,000
1960 1970 1980 1990 1995 2000 2001 2002 2003E 2004E
Average income per consultant, £CURRENT TRENDS IN MANAGEMENT CONSULTING – UK EXAMPLE
8
0
100
200
300
400
500
600
700
800
900
1000
Outsourcing
Cost reductio
n
Process Improvement
Revenue Growth
Human PerformanceStrategy IT
CRM
Business lines expected to grow / decline in 2003
Source: The Annual Consultancy Forum, London 2003, Polling ~ 1,500 management consultants
SURVEY RESULTS - RECENT TRENDS IN MANAGEMENT CONSULTINGBalance of opinions
-200
0
200
400
600
800
1000
Public Secto
r
Energy & Utiliti
esRetail
Financial Services
Manufacturing
TMT
Sectors expected to grow / decline in 2003
9
CURRENT DIFFICULTIES
• Relatively high-priced, inflexible model
• More difficult to justify high price
• Less differentiation as clients develop internal knowledge and expertise
• Lack of tech expertise
• Competition from research houses
• Drop in revenues
• Generalisaton of discounts or free services
• Reduction of average engagement length
• Reductions of headcounts
10
DIFFERENT BUSINESS MODELS - I
Work of strategic or highly specialised nature tends to involve smaller teams with high billing rates per consultant
100,0001,000
Accenture
McKinsey
Source:Top Consultant; Vault; Press search; Candesic analysis
MarakonParthenon
150100
300
IBM ConsultingEDSBearing Point
Boutiques Strategy
Independents Operations
BCG
Booz Allen
Bain
Roland BergerMercer
Monitor
LEK
550
CSC
CGEYDeloitte
Consultants Headcount (log scale)
Yea
rly re
venu
e pe
r con
sulta
nt, $
000
’s
Candesic
OC&C
Mars
Hewitt
DiamondCluster
Gartner
11
DIFFERENT BUSINESS MODELS - II
From market intelligence to implementation of recommendations, management research and consulting firms offer a broad range of positions
Sub
scrip
tion
Per
die
m/d
ocum
ent
PRELIMINARY
Rev
enue
mod
el
Customised
Research and advice
Generic
Forrester*Accenture McKinsey
* Focus on technologySource: Interviews, Press search
Gartner*
Corporate Executive Board
12
DIFFERENT BUSINESS MODELS - III
McKinsey“Offer the best value-driven advice to the
world economic leaders”
Corporate Executive Board
“Increase the effectiveness of executives and their
enterprises by discovering and teaching to this membership
the best new thinking and strategies from across industry
and around the world”
Candesic“Deliver top practical and
actionable advice using proven talent from top-tier firms and a
broad network of industry experts, analysts, and research
capabilities”
BBDO Consulting“Significantly increase our clients´brand and customer equity, and
hence, increase our clients´ value in the marketplace”
The Next Practice“Develop unique solutions with the
client teams, acting as strategic and operational coaches rather
than as classic consultants”
Involve client
Flexibility & cost Generic
Specialisation
In the field of strategy consulting, the “McKinsey model” has inspired numerous other applications of its core values to other business models
Source: companies websites, interviews
13
4 8 12 16 20 24 28 32
IT ConsultingEnergy
TelecommunicationsBiotechnologies
Computer SoftwareInternet/e-Commerce
Engineering/ManufacturingInvestment Managing
Commercial Banking/Financial ServicesEntertainment/Media
Venture CapitalHealthcare/PharmaInvestment Banking
Consumer GoodsManagement Consulting
RANKING OF PREFERRED INDUSTRIES AMONG US MBA STUDENTS% of respondents, 5 preferred industries
Source: Universum 2002 survey of 2,807 MBA students at 40 US business schools
Management consulting appears as the most attractive industry for business students
38% of the studentsin Harvard Business School’s
class of 2002 went into consulting
14
RANKING OF TOP 5 EMPLOYERS AMONG MBA STUDENTS% of respondents
4 8 12 16 20
Booz Allen & Hamilton
Microsoft
BMW
Citigroup
Apple
Goldman Sachs
Coca Cola
Bain & Company
Boston Consulting Group
McKinsey & Company
* Includes PWC consulting now part of IBM Consulting ServicesSource: Universum 2004 survey of 1,300 MBA students at 18 European business schools, 2004 survey of over 4,000 MBA
students at 46 US business schools
Management consulting appears as the most attractive industry for business students
European MBAs, 2004 US MBAs, 2004
Management consultants
4 8 12 16 20
Booz Allen Hamilton
General Electric
Coca Cola
Boston Consulting Group
BMW
Johnson & Johnson
IBM*
Goldman Sachs
Citigroup
McKinsey & Company
15
TOP 20 MANAGEMENT CONSULTING FIRMS WORLDWIDE BY PRESTIGERating on a scale of 1 to 10 based on prestige
3 4 5 6 7 8 9
BearingPointTowers Perrin
Cap Gemini Ernst & YoungL.E.K. Consulting
IBM BCSParthenon Group, The
Marakon AssociatesMercer Human Resource Consulting
AccentureDeloitte Consulting
Roland Berger - Strategy ConsultantsMercer Oliver Wyman
A.T. KearneyGartner
Mercer Management ConsultingMonitor Group
Booz Allen HamiltonBain & Company
Boston Consulting GroupMcKinsey & Company
Source: Vault Top 50 survey 2004. Methodology: 1,100 consultants asked to rate the consulting firms on a scale of 1 to 10 based on prestige (excluding their own firm)
Management consulting firms with a strong focus on strategy are perceived as more prestigious by consultants
Strategy consultants
Many top consulting boutiques missing for
lack of scale or international presence
16
CONSULTANTS SKILLS ARE TRANSFERABLE
Analytical and problem-solving skills
If you have any interest for general management, a management consulting experience makes sense
Project management
skills
Communication skills
* Note that management consultants do not necessarily make great managers!
General Management
Leadership
17
REASONS FOR BECOMING A MANAGEMENT CONSULTANT
• Career opportunities (network, clients, firm reputation)
• Working methodology and learning opportunities
• Intellectual challenge / fast pragmatic problem solving
• People
• Money
• Lifestyle
• Delay career decisions
The value-proposal is very attractive…
18
REASONS FOR NOT BECOMING A MANAGEMENT CONSULTANT
• Career choice that doesn’t require consulting experience
• Limited scope for fundamental research / pace of problem solving
• Lifestyle
• Money
• People
… but you need to balance your expectations
19
WHICH TYPE OF FIRM?
Strategy firms
Operational firms
Boutique firms
Independents
DisadvantagesAdvantages
• Strong and coordinated training• Gentle integration into large project teams• Blue-chip client base• Potential for internal transfers
• Frustrating rules and procedures• Lack of business overview• Rigid promotion tracks• Limited or no top management exposure
• Strong alumni networks• Potential for fast and international careers• Exposure to top management issues• Generalist early career
• Up or out policy• High workload, no room for private life• Tough in downturns
• Often enjoyable work atmosphere• Easy access to partners• Early responsibilities• Opportunity for early specialisations
• Risk from exposition to specific sector• Small alumni network• Limited transition opportunities
• Autonomy• Direct exposure to client management• No/less profit sharing
• Immediate personal accountability• Key-man risk, less brand• Less Blue-chip clients or more B.U. level• Limited institutional training
Source: Top-Consultant.com
20
CONSULTANTS BELONG TO TWO DIFFERENT WORLDS
Independent consultantsTraditional consulting firms
ProsCons Pros Cons
• Workload
• Partners
• Up or out
• Rigidity
• People
• Brand
• Scale
• Training
• Autonomy
• Profit sharing
• Exposure
• Training
• Accountability
• Alumni
21
EMERGENCE OF A NEW MODEL OF CONSULTING
There will always be traditional firms and there will always be consultants who want their freedom
Independent consultantsTraditional consulting firms
“Taking the best of both worlds”
• People • Brand• Scale• Training
• Autonomy• Profit
sharing• Exposure
ProsCons Pros Cons
22
Weighted scores, 2002MOST IMPORTANT CRITERIA FOR NEXT CONSULTING JOB
Partnership potential
Job security
Benefits
Brand name and reputation
Training and personal development
Work-life balance
Career progression
Salary
Quality of work and clients
Source: Top-Consultant.com, survey of ~1500 management consultants
23
SUMMARY
• Management consulting firms offer a few thousands jobs every year. Those jobs are among the most competitive, especially with top strategy firms
• Whatever the role and the type of project, working as a consultant requires following a set of principles aligned with an organisation aimed at optimising efficiency and effectiveness
• If you want to become a management consultant, preparation will be key
24
WHO ADVISES THE EXECUTIVE MANAGEMENT?
• Board of Directors
• Internal consulting department
• External consultants
The CEO relies on various sources of strategic advice, which offer different perspectives
25
THE “WHY DO COMPANIES NEED STRATEGY CONSULTANTS” MATRIX
Portfolio of Corporate Activities
M&ARestructuring Legal
(Patent Filing, Litigation)IT Support
TreasuryRisk ManagementHR Management
Administrative Processing (T&E, Payroll)Basic Accounting(Accounts Payable)
Strategy Consultants
Core Activity(in-House
Capabilities)
Outsourced Activity
Value Added
FrequencyUnique, One-off,
Unpredictable Activities
Routine, Stable Activities
Variable but Predictable and
Relatively Regular Activities
Source: High Strategy ltd
Strategy consultants are the most efficient resource in unique situations
26
SIX MAIN ROLES OF A CONSULTANT
Coach
ExpertAdvocate
Researcher
Counselor
Facilitator
Educates, benchmarks, recognises need for change
Provides best-of-class technical expertise
Gathers market data
Helps solve problems
Acts as catalyst for change, facilitates internal
communication
Provides authoritative external advice, supports
management
27
THREE PRINCIPLES OF (GOOD) CONSULTING
Non-hierarchical communication environment–Feedback and obligation to dissent–Pyramid principle–Constantly forward-moving
Care, not cure !
(Henry Mintzberg)
Management consulting is based on a set of principles aimed at optimising efficiency and effectiveness
Values– Integrity– Objectivity– Commitment– Curiosity
Impact driven pragmatic problem solving– Hypothesis driven – Facts driven– Structuring and Pyramid principle (“MECE”)– Prioritisation and 80/20 (Pareto principle)– Leverage knowledge
Excellence
28
ETHICAL ISSUES IN MANAGEMENT CONSULTING
• Unpleasant results • Forced recommendation• Chinese walls• Cost cutting• Data accuracy
Consultants need to show integrity
Within the team
With the client
Do the “Wall Street Journal test”
• Inefficient team members• Lifestyle • Feedback and development• Intellectual property• Mistakes• Hierarchy
29
SIX TYPICAL FLAWS IN A BAD CONSULTING ENGAGEMENT
• Project defined in terms of consultant’s, not client’s deliverables
• Project scope ignores client readiness
• Grandiose solutions
• Strict separation of work between consultants and client team members
• Labor-intensive use instead of leveraged use of consultants
• Client imposes a solution based on an opinion
Following virtuous principles should ensure avoiding some typical mistakes
Source: Candesic analysis
30
ROLES AND RESPONSIBILITIES WITHIN THE TEAM
There are typically four different team roles which require a different set of consulting skills
• Acquires and manages senior client• Contracts and bills• Supervises teams
Partner* or VP
Consultant
Analyst
Manager• Manages project and delivery of solution • Liaises with partners• Often conducts presentation
• Manages work streams and client team members • Coaches analysts• Liaises with research and production
• Initial focus on interviewing and modelling• Takes part in problem solving• Often takes responsibility for logistics
Years in role
2-4
3-5
MBA
PhD
Bachelor
Master 2-3
Role DescriptionEntry level
* Often two-tiered partnerships with senio partners (directors) and junior partners (principals)
31
A TYPICAL TEAM STRUCTURE IN STRATEGY/ORGANISATION
Client TeamMember
Consultant
Analyst
Consultant
Client TeamMember
Senior Partner
Junior Partner
Part time Full time
Manager
The Manager is the key person to run the project
32
TYPICAL BREAKDOWN OF A WORKING DAYHours
Consultants go through various activities that can be averaged across the year
1
2
2
11
2
7
3
24
11
1
2
Individual problem solving/ drawing charts
Team problem solving
Presenting Training SocialisingData gathering
InterviewingTravelling Modelling Client meeting
Sleeping Other Total
Project specific
33
THE CONSULTING PROJECT
ANALYSING– Framing– Designing– Gathering – Interpreting
PRESENTING– Structure– Buy-in
MANAGING– Team– Client– Self
Intuition
Data
Source: The McKinsey Mind, E. Rasiel
Problem Solution Implementation
34
WHAT THEY ARE LOOKING FOR IN THE CASE INTERVIEW
ANALYSING– Framing– Designing– Gathering – Interpreting
PRESENTING– Structure– Buy-in
MANAGING– Team– Client– Self
Intuition
Data
Source: The McKinsey Mind, E. Rasiel; Vault
Problem Solution Implementation
How good is your logic ?
How good are you at communicating your
logic ?
Would it be pleasant to work with you in
the team ?
How would clients perceive
you ?
35
USUAL STEPS IN A STRATEGY ENGAGEMENT
Direction setting
Situation analysis
Strategic options to address uncertainties
Portfolio management
Planning and execution
• Mission• Vision• Aspirations
• Industry profitability
• External forces• Competitive
position and sources of competitive advantage
• Uncertainties
• Assets for and drivers of value creation
• Portfolio of strategic opportunities
• Execution requirements
• Alignment of organisation
• Execution plan
36
ANOTHER PROJECT EXAMPLE: SALES FORCE EFFECTIVENESS
Implementation4-6 months
Phase 1Size of the opportunity
End product: implementation plan
for the new organisation
Interviews with top management
Problem identification Data gathering and Analysis (market and internal)
Problem solving
2-4 weeks 5-10 weeks 2-4 weeks
Phase 2Segment clients, monitor and benchmarksales performance
Communication
Beware of incorrect problem definition or
scope…
Phase 3Evaluate performance and take corrective actions
37
SUMMARY
• Management consulting firms offer a few thousands jobs every year. Those jobs are among the most competitive, especially with top strategy firms
• Whatever the role and the type of project, working as a consultant requires following a set of principles aligned with an organisation aimed at optimising efficiency and effectiveness
• If you want to become a management consultant, preparation will be key
38
TYPICAL RECRUITMENT PROCESS AT STRATEGY CONSULTING FIRMS
• Possibly a short numeracy or logic test• 2 or 3 interviews with consultants (typically senior consultants and Managers)
–Most interviews will include a business case discussion for 20-30 minutes• Possibly Group Exercise: discussion of a business problem by several candidates to
test empathy, leadership and teamwork
• 2 interviews with Partners, sometimes with Managers–Again, most interviews will include a business case discussion for 20-30 minutes–Partners sometimes prefer to test candidates with questions embedded in casual
discussion: apply same rules as in formal case discussion
• Generally communicated within a week or two• When positive, often accompanied by offer to meet informally with consultants• Rejection should not be taken personnally. Always ask for feedback and record it.
Reapplication generally possible after 1 or 2 years provided candidate can show improvement
The recruitment process is typically based on two rounds of interviews to screen the CV, and discuss a business case and specific questions
Second and possibly third round
First round
Final decision
39
TYPES OF CASES
•“Should company X enter/exit a new/old market?”•“How should company X react to a new entrant?”•“Should company X launch product Y in region Z?”•“Should company X choose an alliance in country Y?”
•“Should company X add capacity?”•“Why did profits of company X decrease?”•“Should company X change suppliers?”•“Should company X allocate real costs?”
•“How many windows are there in Chicago?”•“How many screws in a French hypermarket?”•“What is the size of the surfboard market in Austria?”•“Should Germany consider reopening the “Neuer Markt”?
•“Why are manhole covers round?”•“Describe 10 things you can do with a rabbit”
•Big picture perspective•Ability to structure and prioritise•Broad functional skills•Creativity
•Understanding of processes•Ability to structure •Broad functional skills•Comfort with details, analysis
•Comfort with ambiguity•Ability to structure•Facility with numbers•Poise
•Ability to think “out of the box”•Creativity•Ability to prioritise•Logic
Business operations cases
Business strategy cases
“Guess-timates”
Brain-teasers
Main skills requiredExamples
The type of case is often determined by the focus of the consulting firm and the individual experience of the interviewer
40
TOOLS CONSULTANTS USE TO SOLVE PROBLEM
A robust problem-solving methodology
BasicConcepts
(Economics)
Operational frameworks, maybe
Main strategic frameworks
BasicConcepts(Finance)
BasicConcepts
(Marketing)
BasicConcepts
(Accounting)
41
FIVE EASY STEPS TO EFFECTIVE PROBLEM SOLVING
Step 1
Step 2
Step 3
Step 4
Step 5
?
State the problem
Disaggregate the issues
Eliminate allnon-key issues
Conduct critical analyses, go back and forth between data and hypotheses
Synthesize findings and build argument
Problem identification Analysis Problem solving Communication
Problem solving can be made easier. We would go into the detail of this process in the next course on business case studies
42
WRITING A STORYLINE*
Complication
Situation
Resolution
Use situation, complication, resolution format
State the conditions at point of problem
Flesh out barriers to improving situation
Lay out possible solution path
* While a well-structured pyramid thought process is necessary for telling a compelling story, the thought process and the storyline are not the same thing: the pyramid is not sufficient for a good presentation
MainMessage
Basic premises
1. Audience is much more interested in what the answer is than in howyou got it
2. Audience can absorb ideas and draw desired conclusions more easily within context of “big picture”
Rest of pyramid supports main message
= The Answer
THE PYRAMID STRUCTURE
Overall Structure: The Pyramid PrincipleThe use of the pyramid to structure the storyline ensures that the audience gets the answer and has context in which to understand details
44
BEING PREPARED
Note by Eisenhower, 6 June 1944
“Our landings … have failed …The troops, the Air and the Navy did all that Bravery and devotion to duty could do. If any blame or fault attaches to the attempt, it is mine alone.”
46
Appendix
47
BIBLIOGRAPHY
• To better understand the work of a consultant
–The McKinsey Way, by Ethan M. Rasiel (1999), ISBN 0-07-053448-9
–The Harvard Business School Guide to Careers in Management Consulting (2001)
–Dangerous Company: Management Consultants and the Businesses They Save and Ruin, by James O'Shea (1998)
–Consulting Demons, by Lewis Pinault & Stephen M. Pollan (2000), ISBN 0-471-49619-7
–Managing The Professional Service Firm, by David H. Maister (1997)
–The Trusted Advisor, by David H. Maister, Charles H. Green, Robert M. Galford
• To prepare for the case studies:
–Wetfeet Ace Your Case!™: Consulting Interviews (2003, 3 volumes)
–Vault Guide to the Case Interview (2003, 2 volumes)
–Case in Point, Marc Cosentino
–Minto Pyramid Principle: Logic in Writing, Thinking, and Problem Solving, by B. Minto, ISBN 0-273-61710-9
Getting into top management consulting firms requires thorough preparation, individually and with others
48
Spending, preferences and perceptions of management consulting clients in the U.S.
Strategic consulting looks set to make a comeback on both sides of the Atlantic, according to the latest research. In the US, a new report* shows there is an increased appetite amongst corporate executives for strategic advice. Surveying consulting clients, Kennedy Information found that 87% envisage engaging strategic advisors during the next 2 years - suggesting the hay days may soon be back for the likes of McKinsey, BCG and BAH. This ties in with data suggesting a US economic recovery is underway and that a refocusing on growth strategies is likely to occur amongst big corporate clients.
In the UK a similar story is emerging, with the latest economic data suggesting the UK economy is growing more resiliently than previously thought - and a continued upturn expected over the next 12 months.
The renewed interest in recruiting experienced strategy consultants is the most obvious indicator that Partners expect stronger strategy consulting growth to materialise in 2004. Several of the leading strategy firms are actively recruiting once again, though mostly through discreet channels.
Perhaps the most telling indicator for the sector will become clear during the next 6 weeks, when the strategy consultancies begin their drives to entice and recruit the top talent amongst university finalists. These last 2 years, the presence of many firms at Milkround recruiting events has been a purely token gesture to maintain brand awareness on campus. If October sees a renewed gusto in their attempts to woo the brightest of the bright then we will feel confident that better times are here to stay. Watch this space for a campus update in the next weeks...
Source: Kennedy Information – 30 Sept 2003
49
Consultant News – 12 Oct 2004 - For MBAs the long wait is over - MBA recruiting is back
Two groups suffered more than any other during the consultancy downturn of 2001-2003. First up were experienced consultants whose sector-knowledge and skillsets were suddenly no longer in demand, as public sector experience became far more valuable than private sector expertise.
Even harder hit than experienced consultants, though, were the thousands of professionals that embarked on an MBA course with high aspirations of entering or re-entering consulting upon graduation. Come graduation day, most found they had hit a brick wall as consulting firms put an almost total freeze on MBA recruiting for the duration of the downturn.
Even those high-flyers whose MBAs had been sponsored by a consulting firm often found themselves made redundant - despite the sizeable investment that had been made by the firm in their professional development. Many went to work as freelance consultants, awaiting their opportunity to return to a permanent career and fast-track career path when the market recovered.
18 months on and the situation has thankfully been transformed. The sustained upturn in consulting order books and market confidence has caused consultancies to re-evaluate their MBA recruitment needs and in many cases kick-start quite sizeable recruitment drives.
"We are seeing firms increasingly interested - and active - in hiring both MBA students and recent MBA graduates to fill a skills gap that has developed from 2-3 years of below-average MBA recruitment. Talking to many of the top consultancies it is clear there are a raft of new opportunities opening up in the consulting sector. For all the negative talk a couple of years ago, an MBA does not appear to have lost its currency or any of its allure with the top consulting firms."
Source: www.consultant-news.com
50
LET’S PRACTICE A CASE INTERVIEW
• Case 1: Describe the biggest challenges Glenn Sykes* faces. How would you handle them?
• Case 2: A big Spanish wine producer is thinking about producing a blue wine. What would you do to help them make the decision?
• Case 3: A developing country is considering setting up an organisation against slums. How would you advise them?
* If we have more time, we can replace the name with Ted Snyder’s