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Business or management consultancy provides corporations or organizations with insightful strategic advisory service. It is estimated that the global consulting market value has reached USD 250 billion in 2016. The consultant expertise across various sectors and regions helps clients streamline their operations, identify new business opportunities, envision the industry challenges, and may eventually restructure their whole business models.
The management consultancy market is fragmented among global consulting firms, boutique agencies and individual consultants. “Big Four” accounting firms also provide extensive consultancy services. They build up strong talent pool and leverage diverse human resources from different industries and functional expertise. Consulting, research, analytics and implementation, among others, are the major roles to create changes.
Stay ahead of the curve
Consultants are at the forefront to deliver ground-breaking strategies. The work can be very complicated; and as such, consultants are expected to possess strong problem-solving skills and proprietary capabilities to contribute. At the intersection of strategy and technology, nowadays they work closely with digital team to deliver technology-enabled transformation initiatives.
Furthermore, consulting team is backed up by research and analytics talents. The research division not only has to carry out data analysis and on-site diagnostics, but it also takes care of hypotheses development and testing, as well as industry trend analysis.
Strong analytics support
Analytics division consists of a wide range of data analysts, scientists, architects, and consultants with expertise across various industries. These members are expected to be equipped with the skills in marketing mix modeling, supply chain and network optimization. They are good at converting data into value.
Implementation is another key to success in business. Consultants are more than creating ideas. The industry is outcome-based after all. They help clients deliver sustainable results and measurable improvements in productivity, cost and quality, etc. It may involve process transformation and management practice optimization.
To get a seat in a consultancy firm can be tough but achievable if you are well prepared. Consultancy firms usually look for innovative, insightful and inquisitive talents with entrepreneurial spirit and vision to succeed. Indeed many of them offer a number of job interview tips online - and even some problem solving tests and simulated clients cases - for candidates to practice beforehand.