If you're a motivated person, enjoy problem solving and have an interest in helping organizations operate better, then management consultancy is the best career for you.
Management consultants generally help organizations to solve issues, create value, maximize growth and improve business performance. They use their business skills to provide objective advice and expertise and help an organization to develop any specialist skills that it may be lacking.
Management consultants will primarily be concerned with the strategy, structure, management and operations of a company. Your role is to identify options for the organization and suggest recommendations for change, as well as advising on additional resources to implement solutions.
Management consultancy firms are the main employers. It ranges from large firms that offer end-to-end solutions
to smaller or niche firms that offer specialist expertise and skills in certain industry areas.
Consultancy firms can be divided into the following areas:
• Generalist: are the larger firms
such as Deloitte
PwC and Accenture. They offer a range of services from strategy consulting and human resources
to IT and outsourcing on a global basis.
• Strategy consultants: offer strategic advice to companies on a project-by-project basis e.g. new market entry
long-range planning and rationalization of goods and services.
• Human resource consultants: offer specialist HR advice
e.g. in organizational restructuring
talent and rewards strategies.
• Information technology consultancy firms: offer specialist IT advice such as defining information needs
systems analysis and design
as well as applications consulting.
• Financial consultants: offer specialist advice including the installation of budgetary control systems
profit planning and capital and revenue budgeting.
• Outsourcing consultancies: manage the outsourcing of projects such as IT
Finance and HR.
• Niche firms: often set up by consultants leaving the larger firms to set up their own consultancies in a particular sector or specialist service.
Courses to be pursued
• B.A. (Hons) - PPE (Philosophy
Politics & Economics)
• B.Com. (Hons)
• BBA + MBA (Dual Degree)
Consultancy work can be demanding and it involves long hours beyond 9am to 5pm, with extra work having to be carried out for large projects and to meet deadlines. But, the hours will depend on the firm and type of project.
Firms are paying increasing attention to work/life balance by offering family-friendly benefits, for example, flexible working, part-time working, working from home and enhanced maternity and paternity leave. Some encourage career breaks in another role or outside the company. Freelance work is also possible, with substantial experience and good contacts.
• The ability to work as part of a team • Interpersonal and communication (both oral and written) skills • Creativity and innovation • Problem-solving and strategic planning ability • Analytical skills • Flexibility • The ability to cope with pressure and challenges • Commercial awareness and understanding of business environments