14 answers
Zlee
Student
1
Question
14 answers
Alex Dent
Audit & Risk Analysis
1
Answer
Washington, Washington
Updated
Alex’s Answer
Hi, Zlee!
Great question. I am not a consultant myself, however, I have many colleagues who do consultant work. You can expect to be met with many different challenges & scenarios that will always keep you on your feet. Expect to do a fair amount of research & analysis in order to develop solid recommendations for the company you are working with!
In the business world, people or companies hire consultants when they need expert advice or help with tricky problems. These consultants are like super-knowledgeable experts in a particular field, like business, technology, health, environmental sustainability...you name it! They work with the company to understand what's going on, figure out what needs to be done, and help come up with a plan to make things better. They might give advice on how to run a business more efficiently, improve technology systems, or make financial decisions.
So, consulting is a bit like being a problem-solving expert that gets hired to help out when things get tough in a business or organization. They use their special knowledge to help find solutions and make things work better.
Here's an example:
Imagine you have a friend who's really good at math. You're struggling with a difficult math problem and you ask for their help. They sit down with you, explain the problem, and guide you through the steps to solve it. That's a bit like what a consultant does, but in a more formal and specialized way.
Hope this helps!
Great question. I am not a consultant myself, however, I have many colleagues who do consultant work. You can expect to be met with many different challenges & scenarios that will always keep you on your feet. Expect to do a fair amount of research & analysis in order to develop solid recommendations for the company you are working with!
In the business world, people or companies hire consultants when they need expert advice or help with tricky problems. These consultants are like super-knowledgeable experts in a particular field, like business, technology, health, environmental sustainability...you name it! They work with the company to understand what's going on, figure out what needs to be done, and help come up with a plan to make things better. They might give advice on how to run a business more efficiently, improve technology systems, or make financial decisions.
So, consulting is a bit like being a problem-solving expert that gets hired to help out when things get tough in a business or organization. They use their special knowledge to help find solutions and make things work better.
Here's an example:
Imagine you have a friend who's really good at math. You're struggling with a difficult math problem and you ask for their help. They sit down with you, explain the problem, and guide you through the steps to solve it. That's a bit like what a consultant does, but in a more formal and specialized way.
Hope this helps!
Jody Muniz, P.E.
Project Manager / Forensic Engineer
25
Answers
Houston, Texas
Updated
Jody’s Answer
Hi Zee, your question is a wide-ranging one, and I'm thrilled to share my perspective based on my professional journey. Consulting is a vast and diverse field, offering professional services to clients based on their specific needs and outlined in a scope of work. It can encompass anything from supervision, labor, equipment provision, to any other needs the clients may have. In return, the client provides a contract agreement for future payments.
Moreover, consulting can also involve managing services that the client requires. Over time, clients often expand their list of needs, which is quite common. As a consultant, you'll be offering services, presenting findings, analyzing existing conditions, and making recommendations for future needs. One of your key roles will be ensuring the client's satisfaction, which can be a rewarding challenge.
Consultants are typically engaged to solve problems that clients can't handle on their own. They are brought in to tackle challenges, resolve issues, and enhance the company's situation. For instance, I was once hired as an independent consultant for a large chemical plant to manage small projects. After successfully completing them, I was asked to stay on to oversee a significant $20 Million expansion. This experience even helped me secure my professional engineering license.
I suggest you explore companies like Tetra Tech that offer consulting services. By reviewing their investor web pages, you can gain insights into how they generate profits. For instance, Tetra Tech earns over $5 Billion annually, with 65% of their revenue coming from consulting. Companies offering consulting services typically have a careers section where they list open positions and desired skills. I encourage you to create your personal library of interesting jobs and the skills they require. Your work experiences will help you develop these skills, and learning how to present yourself to potential clients or supervisors is crucial.
I found joining Toastmasters International, a non-profit organization, incredibly beneficial. For a minimal monthly fee, I learned how to present myself confidently and speak effectively. This organization has branches worldwide, and I recommend you attend a meeting to see what they offer. Your future success will hinge on the choices you make to grow professionally.
Remember, every consultant or consulting firm needs to make a profit to sustain themselves. There are also non-profit consulting firms that operate similarly, although my experience with them is limited.
Keep aiming high, Zee! Have a fantastic day!
Moreover, consulting can also involve managing services that the client requires. Over time, clients often expand their list of needs, which is quite common. As a consultant, you'll be offering services, presenting findings, analyzing existing conditions, and making recommendations for future needs. One of your key roles will be ensuring the client's satisfaction, which can be a rewarding challenge.
Consultants are typically engaged to solve problems that clients can't handle on their own. They are brought in to tackle challenges, resolve issues, and enhance the company's situation. For instance, I was once hired as an independent consultant for a large chemical plant to manage small projects. After successfully completing them, I was asked to stay on to oversee a significant $20 Million expansion. This experience even helped me secure my professional engineering license.
I suggest you explore companies like Tetra Tech that offer consulting services. By reviewing their investor web pages, you can gain insights into how they generate profits. For instance, Tetra Tech earns over $5 Billion annually, with 65% of their revenue coming from consulting. Companies offering consulting services typically have a careers section where they list open positions and desired skills. I encourage you to create your personal library of interesting jobs and the skills they require. Your work experiences will help you develop these skills, and learning how to present yourself to potential clients or supervisors is crucial.
I found joining Toastmasters International, a non-profit organization, incredibly beneficial. For a minimal monthly fee, I learned how to present myself confidently and speak effectively. This organization has branches worldwide, and I recommend you attend a meeting to see what they offer. Your future success will hinge on the choices you make to grow professionally.
Remember, every consultant or consulting firm needs to make a profit to sustain themselves. There are also non-profit consulting firms that operate similarly, although my experience with them is limited.
Keep aiming high, Zee! Have a fantastic day!
Michael Bylund
Tech Sales
23
Answers
Falls Church, Virginia
Updated
Michael’s Answer
Consulting is a professional service in which individuals or firms with specialized knowledge and expertise provide advice and guidance to individuals, organizations, or businesses to help them solve specific problems, make improvements, or achieve their goals. The consulting process typically involves several key steps:
Initial Contact and Needs Assessment:
Clients contact a consulting firm or consultant to discuss their specific needs and problems.
The consultant or consulting firm assesses the client's requirements and objectives.
Proposal and Agreement:
The consultant submits a proposal outlining the scope of work, objectives, methodologies, timeline, and cost.
The client reviews the proposal and, if satisfied, enters into an agreement with the consultant.
Research and Analysis:
The consultant conducts in-depth research and analysis to understand the client's industry, market, and specific challenges.
Data collection, market research, and interviews may be part of this process.
Solution Development:
Based on the research, the consultant develops recommendations and solutions to address the client's problems or objectives.
This may involve strategic planning, process improvement, organizational restructuring, or other specialized expertise.
Implementation Planning:
Consultants often work with the client to create an implementation plan that outlines the steps, timeline, and responsibilities for putting the proposed solutions into action.
Implementation:
The consultant may assist the client in executing the plan, offering guidance, support, and expertise as needed.
Implementation can involve changes in operations, technology, or human resources, depending on the nature of the project.
Monitoring and Evaluation:
The consultant and client continually assess the progress and effectiveness of the implemented solutions.
Adjustments and modifications are made as necessary to achieve the desired outcomes.
Final Deliverables:
The consultant provides the client with a final report, documentation, or any other agreed-upon deliverables that summarize the project's outcomes and results.
Closure and Follow-Up:
The consulting engagement concludes with the completion of the project or achievement of the client's goals.
Follow-up support and knowledge transfer may be provided to ensure the client can sustain the improvements.
Billing and Payment:
The consultant invoices the client for their services, typically based on an agreed-upon fee structure, which may be hourly, project-based, or retainer-based.
Consulting can cover a wide range of areas, including management consulting, IT consulting, financial consulting, human resources consulting, and more. Consultants are usually subject matter experts with specialized knowledge and experience in their field, and they offer an objective, external perspective to help clients make informed decisions and drive positive change within their organizations or projects. The specifics of a consulting engagement can vary widely depending on the client's needs and the consultant's expertise.
Initial Contact and Needs Assessment:
Clients contact a consulting firm or consultant to discuss their specific needs and problems.
The consultant or consulting firm assesses the client's requirements and objectives.
Proposal and Agreement:
The consultant submits a proposal outlining the scope of work, objectives, methodologies, timeline, and cost.
The client reviews the proposal and, if satisfied, enters into an agreement with the consultant.
Research and Analysis:
The consultant conducts in-depth research and analysis to understand the client's industry, market, and specific challenges.
Data collection, market research, and interviews may be part of this process.
Solution Development:
Based on the research, the consultant develops recommendations and solutions to address the client's problems or objectives.
This may involve strategic planning, process improvement, organizational restructuring, or other specialized expertise.
Implementation Planning:
Consultants often work with the client to create an implementation plan that outlines the steps, timeline, and responsibilities for putting the proposed solutions into action.
Implementation:
The consultant may assist the client in executing the plan, offering guidance, support, and expertise as needed.
Implementation can involve changes in operations, technology, or human resources, depending on the nature of the project.
Monitoring and Evaluation:
The consultant and client continually assess the progress and effectiveness of the implemented solutions.
Adjustments and modifications are made as necessary to achieve the desired outcomes.
Final Deliverables:
The consultant provides the client with a final report, documentation, or any other agreed-upon deliverables that summarize the project's outcomes and results.
Closure and Follow-Up:
The consulting engagement concludes with the completion of the project or achievement of the client's goals.
Follow-up support and knowledge transfer may be provided to ensure the client can sustain the improvements.
Billing and Payment:
The consultant invoices the client for their services, typically based on an agreed-upon fee structure, which may be hourly, project-based, or retainer-based.
Consulting can cover a wide range of areas, including management consulting, IT consulting, financial consulting, human resources consulting, and more. Consultants are usually subject matter experts with specialized knowledge and experience in their field, and they offer an objective, external perspective to help clients make informed decisions and drive positive change within their organizations or projects. The specifics of a consulting engagement can vary widely depending on the client's needs and the consultant's expertise.
Harrison Liu
Consulting
6
Answers
Los Angeles, California
Updated
Harrison’s Answer
Consulting is a specialized service provided by experts who possess specific knowledge or skills. They assist in problem-solving and decision-making by analyzing data, identifying problems, and offering advice and recommendations. Although each project may differ, here's a step-by-step breakdown of an example consulting project:
1. The process begins with a current state analysis, where data is collected to gain a clear understanding of the existing situation.
2. Next, an in-depth analysis of the data and the current situation is conducted. This could involve interviews, surveys, financial reviews, or other methods, depending on the project's requirements.
3. The consultant then provides a recommendation to the client, outlining the challenges and opportunities to address the client's issue.
4. In some instances, consultants may also participate in the implementation phase, assisting the client in executing the recommended strategies.
5. Post-implementation, consultants may help evaluate the results and make necessary adjustments to ensure the client achieves their goals.
6. Finally, once the project is completed, the closure phase involves tying up any loose ends and often includes a final report or presentation.
If you're interested in learning more about consulting, Access Your Potential offers a wealth of information and potential career opportunities like internships and paid consulting externships for nonprofits. To gain access to these free programs and more, sign up here: accessyourpotential.pwc.com
1. The process begins with a current state analysis, where data is collected to gain a clear understanding of the existing situation.
2. Next, an in-depth analysis of the data and the current situation is conducted. This could involve interviews, surveys, financial reviews, or other methods, depending on the project's requirements.
3. The consultant then provides a recommendation to the client, outlining the challenges and opportunities to address the client's issue.
4. In some instances, consultants may also participate in the implementation phase, assisting the client in executing the recommended strategies.
5. Post-implementation, consultants may help evaluate the results and make necessary adjustments to ensure the client achieves their goals.
6. Finally, once the project is completed, the closure phase involves tying up any loose ends and often includes a final report or presentation.
If you're interested in learning more about consulting, Access Your Potential offers a wealth of information and potential career opportunities like internships and paid consulting externships for nonprofits. To gain access to these free programs and more, sign up here: accessyourpotential.pwc.com
Max Nesser
7
Answers
Updated
Max’s Answer
Hi Zlee,
I'd be happy to answer your question from the perspective of someone who has been in the consulting field now for a couple years!
In general, consulting is when a client reaches out to a consulting firm (or specific employee at the firm like a partner) and asks for work to be performed. This work is sometimes highly specialized and/or technical, that the client might not be able to perform, or might not have the required resources (employees) to perform. This is where a consulting firm can bring in employees with expertise in the requested area and perform the work for the client, so the client can dedicate resources and focus elsewhere. Sometimes though, the work may be more general, or the client may just need more resources to complete their task. This is where a consulting firm may have some of its employees work with the client side-by-side to accomplish their goals, so the client doesn't have to hire additional full time employees to complete the work. These are just two common examples, but the one's I've come across so far in my career.
There are also a wide variety of industries you could go into as a consultant. My industry is Financial Crimes, so I focus on topics such as Anti-Money Laundering and Fraud. Other industry examples are Deals, Transformation, Technology and Data, Asset Wealth Management, and the list goes on. In order to find out what industry sounds the most interesting to you, I would suggest going to a consulting firm's website and reading through all the different practices they have and the industries they work in. This would be a great way to gain a background into the different types of consulting and narrow down what you're looking for.
Your day to day as a consultant will differ depending on the project you're on, but in general, your day to day will consist of working with your project team, and completing the activities assigned to you by your team (such as from the Senior Associate or Manager). Whichever practice you're in, there are many different kinds of projects as well, so your first project could be entirely different from your second project and so on. This is a great way to learn about and see different aspects of the industry you're in, and gain a well-rounded set of skills that you will be able to use on future projects.
Overall, if you're looking for an exciting and interesting way to start your career, with many different opportunities and ways to learn, I'd definitely suggest consulting!
I'd be happy to answer your question from the perspective of someone who has been in the consulting field now for a couple years!
In general, consulting is when a client reaches out to a consulting firm (or specific employee at the firm like a partner) and asks for work to be performed. This work is sometimes highly specialized and/or technical, that the client might not be able to perform, or might not have the required resources (employees) to perform. This is where a consulting firm can bring in employees with expertise in the requested area and perform the work for the client, so the client can dedicate resources and focus elsewhere. Sometimes though, the work may be more general, or the client may just need more resources to complete their task. This is where a consulting firm may have some of its employees work with the client side-by-side to accomplish their goals, so the client doesn't have to hire additional full time employees to complete the work. These are just two common examples, but the one's I've come across so far in my career.
There are also a wide variety of industries you could go into as a consultant. My industry is Financial Crimes, so I focus on topics such as Anti-Money Laundering and Fraud. Other industry examples are Deals, Transformation, Technology and Data, Asset Wealth Management, and the list goes on. In order to find out what industry sounds the most interesting to you, I would suggest going to a consulting firm's website and reading through all the different practices they have and the industries they work in. This would be a great way to gain a background into the different types of consulting and narrow down what you're looking for.
Your day to day as a consultant will differ depending on the project you're on, but in general, your day to day will consist of working with your project team, and completing the activities assigned to you by your team (such as from the Senior Associate or Manager). Whichever practice you're in, there are many different kinds of projects as well, so your first project could be entirely different from your second project and so on. This is a great way to learn about and see different aspects of the industry you're in, and gain a well-rounded set of skills that you will be able to use on future projects.
Overall, if you're looking for an exciting and interesting way to start your career, with many different opportunities and ways to learn, I'd definitely suggest consulting!
Katie Arcati
Executive Recruiting
6
Answers
New York, New York
Updated
Katie’s Answer
I'm not a management consultant myself, but I recruit Partners into my company, which is a major global consulting firm. I can speak at a very high level but consultants help develop a strategy to improve something for a client or customer. This could be cost improvements, how to transform a business or service line, how to launch a business plan into a new market, how to make use of data and analytics better to improve the company, and the list goes on. The idea is consultants help problem solve issues with clients and develop a strategy or plan to improve whatever the problem, situation or challenge may be that a client has. Even nowadays the consultant will take it one step further and often help implement that strategy or set of operations to get the client from point A to point B. Through the nature of this work, consultants become advisors to C-suite executives, CEOs, CFOs, CTOs, Chief Transformation Officers and the list goes on. They develop trust based relationships with their clients and get called upon for business advice and career advice. They develop deep relationships in this process and build a strong network in the industry they are involved in.
Great consultants have strong problem solving skills, they are entrepreneurial, lead with integrity, bring value impact to their clients, are seen as great client counselors, possess strong expertise that they can share with their clients and create opportunities for not just themselves, but also their colleagues and their clients.
Great consultants have strong problem solving skills, they are entrepreneurial, lead with integrity, bring value impact to their clients, are seen as great client counselors, possess strong expertise that they can share with their clients and create opportunities for not just themselves, but also their colleagues and their clients.
Shelly-Ann Harper
Strategy and Enterprise Value
7
Answers
Baltimore, Maryland
Updated
Shelly-Ann’s Answer
Hello Zlee, throughout my career, I've primarily worked as a consultant, mainly in the realms of financial services and technology. Consulting firms essentially provide other businesses with two key resources: specialized skills and workforce support. The 'skills' aspect refers to technical or specialized services, while 'workforce support' signifies the additional workforce needed to accomplish tasks. Often, businesses seek the aid of consultants for projects that they can't handle internally. This isn't due to a lack of skills among their employees, but rather because they're already occupied with their daily duties and can't spare extra time for these projects.
Embarking on a career in consulting gives you the chance to experience a wide array of services across various industries. Consulting firms also typically provide training in different tools. For instance, if you're in financial services, you might receive training in systems like SAP, Oracle, or Workday. This training can be incredibly beneficial for your career progression. If you're particularly interested in financial services, I'd recommend leaning towards a Big Four firm, as many companies prefer hiring candidates with Big Four experience.
So, what does a typical day look like for a consultant? At the beginning of a project, you'll establish the type of assistance you'll be providing to your client, set a timeline for the project, and determine whether the work can be done remotely or if it requires the consultants' presence at the client's office. During a project, your day will mostly involve interacting with your client, working collaboratively towards achieving the project goals. As a consultant, it's crucial to build a strong, trust-based relationship with your client.
Best of luck with your career journey!
Embarking on a career in consulting gives you the chance to experience a wide array of services across various industries. Consulting firms also typically provide training in different tools. For instance, if you're in financial services, you might receive training in systems like SAP, Oracle, or Workday. This training can be incredibly beneficial for your career progression. If you're particularly interested in financial services, I'd recommend leaning towards a Big Four firm, as many companies prefer hiring candidates with Big Four experience.
So, what does a typical day look like for a consultant? At the beginning of a project, you'll establish the type of assistance you'll be providing to your client, set a timeline for the project, and determine whether the work can be done remotely or if it requires the consultants' presence at the client's office. During a project, your day will mostly involve interacting with your client, working collaboratively towards achieving the project goals. As a consultant, it's crucial to build a strong, trust-based relationship with your client.
Best of luck with your career journey!
Meghna Peddiraju
Software Engineering Manager
1
Answer
San Francisco, California
Updated
Meghna’s Answer
For 15 years, I honed my skills in software consulting firms before transitioning to a product company. This experience was incredibly beneficial early in my career. My expertise was primarily technical. I rapidly expanded my knowledge of the software products I consulted on. The company I worked for provided training, and I diligently sharpened these skills through various projects both within and outside the company. Simultaneously, I developed customer-facing skills by working directly with clients.
Consulting goes beyond being an expert in your specific field. It involves understanding and anticipating your customer's needs. Staying ahead of these needs will earn you their trust. Engage with your customers, actively listen to them, and strive to see things from their perspective. Offering solutions to their problems isn't a one-size-fits-all task. Each customer has unique workplace challenges and pain points that call for innovative solutions.
I believe my consulting roles have made me a more well-rounded individual, both personally and professionally. You get the opportunity to meet and connect with diverse individuals from various backgrounds. Consulting is one of the few professions that offer such exposure.
Best of luck, I hope you find what you're searching for!
Consulting goes beyond being an expert in your specific field. It involves understanding and anticipating your customer's needs. Staying ahead of these needs will earn you their trust. Engage with your customers, actively listen to them, and strive to see things from their perspective. Offering solutions to their problems isn't a one-size-fits-all task. Each customer has unique workplace challenges and pain points that call for innovative solutions.
I believe my consulting roles have made me a more well-rounded individual, both personally and professionally. You get the opportunity to meet and connect with diverse individuals from various backgrounds. Consulting is one of the few professions that offer such exposure.
Best of luck, I hope you find what you're searching for!
Billie-Jazz Eyondi
Consultant and Leadership Coach
9
Answers
Union, New Jersey
Updated
Billie-Jazz’s Answer
Hello Zlee,
Consulting, in its most basic form, involves assisting a client in resolving their key issues. As a consultant, you bring a fresh viewpoint that a company might miss due to its daily operations. The beauty of consulting is its versatility - you can offer advice on anything, with the ultimate goal of enhancing the company's performance. This could involve improving their processes, refining their strategy, or optimizing the systems they use.
Consultants play a crucial role in assessing a company. They review the existing state of the company, and then offer recommendations for enhancement. Not only do they devise strategies for improvement, but they also assist their clients in executing these strategies.
What makes consulting fascinating is its dynamic nature. You could be assisting a client on a project for a few weeks or months, and then switch to another company and a different project.
The most effective way to understand consulting is through firsthand experience, such as an internship. I would recommend checking out Access Your Potential's website for potential career opportunities, including internships and paid consulting externships for nonprofits. You can sign up here: http://accessyourpotential.pwc.com/
Consulting, in its most basic form, involves assisting a client in resolving their key issues. As a consultant, you bring a fresh viewpoint that a company might miss due to its daily operations. The beauty of consulting is its versatility - you can offer advice on anything, with the ultimate goal of enhancing the company's performance. This could involve improving their processes, refining their strategy, or optimizing the systems they use.
Consultants play a crucial role in assessing a company. They review the existing state of the company, and then offer recommendations for enhancement. Not only do they devise strategies for improvement, but they also assist their clients in executing these strategies.
What makes consulting fascinating is its dynamic nature. You could be assisting a client on a project for a few weeks or months, and then switch to another company and a different project.
The most effective way to understand consulting is through firsthand experience, such as an internship. I would recommend checking out Access Your Potential's website for potential career opportunities, including internships and paid consulting externships for nonprofits. You can sign up here: http://accessyourpotential.pwc.com/
Leo Agnihotri
Consultant
4
Answers
New York, New York
Updated
Leo’s Answer
Hi Zlee - someone told me this in the past and it's stuck with me.
Consultants are doctors for businesses. A consultant will diagnose a business, identify opportunities for improvement, and build a plan to make it better (and sometimes to it themselves!).
These opportunities can be varied, from how to negotiate with supplier, market on social media, or improve the employee experience at a company!
Because there are such a wide range of business "diseases", there will be a lot of different types of consulting companies (individuals, boutique companies, or large firms) that address different types of business problems - very similar to the different types of doctors!
Hope that helps you understand what consulting is.
Best of luck!
Consultants are doctors for businesses. A consultant will diagnose a business, identify opportunities for improvement, and build a plan to make it better (and sometimes to it themselves!).
These opportunities can be varied, from how to negotiate with supplier, market on social media, or improve the employee experience at a company!
Because there are such a wide range of business "diseases", there will be a lot of different types of consulting companies (individuals, boutique companies, or large firms) that address different types of business problems - very similar to the different types of doctors!
Hope that helps you understand what consulting is.
Best of luck!
Carolina Undurraga
Management Consultant
26
Answers
New York, New York
Updated
Carolina’s Answer
Hey Zlee, what a fantastic question you've asked! I'm thrilled to share my thoughts on this as I've got a background (majored) in "Strategy and Management Consulting" and have spent time interning as a consultant during college. Now, I'm working full-time as an M&A consultant.
Let's dive right in. Consulting is a vast field with countless forms, spanning hundreds of industries and specializations. In this realm, there are two main types of workers: specialists and generalists. Specialists are consultants who have deep knowledge about specific business or industry details. For instance, in my field of M&A consulting, some folks focus on executive compensation - that's figuring out how much a company's CEO, CFO, and so on earn each year. On the other hand, generalists are experts in broader areas like understanding the tax implications of paying a CEO a certain amount per year, including equity.
Next, there's a wide array of industries you could work in. You could be involved in deals, which includes acquiring or integrating companies, or marketing, where you focus on how customers view a company. You might also work in IT, exploring how a company's tech capabilities drive its success and add value. These are just a few examples, and there are many more out there. To get a feel for these different areas, I'd suggest applying for an entry-level consulting internship. It's a great way to see how each sector is unique, and even I haven't experienced them all!
To answer your main question, consulting is incredibly diverse and can be customized to match everyone's individual interests and specializations. If your university offers consulting courses, I'd strongly urge you to sign up. But let me illustrate the work of a consultant with an example:
Imagine you're a consultant, and Company A hires you to assess their operations. Company A is a restaurant that doesn't use paper menus or take orders in person. Instead, they use iPads for all orders and requests, which go directly to the kitchen. Waiters only come over if you ping them on the iPad for things like water or utensils. Company A wants you, the consulting firm, to evaluate how using iPads has transformed their business operations. You might look at things like the restaurant's efficiency, customer satisfaction with this process, staff opinions on the technology, and the accuracy of orders with iPads.
I hope this explanation helps clarify your question.
Let's dive right in. Consulting is a vast field with countless forms, spanning hundreds of industries and specializations. In this realm, there are two main types of workers: specialists and generalists. Specialists are consultants who have deep knowledge about specific business or industry details. For instance, in my field of M&A consulting, some folks focus on executive compensation - that's figuring out how much a company's CEO, CFO, and so on earn each year. On the other hand, generalists are experts in broader areas like understanding the tax implications of paying a CEO a certain amount per year, including equity.
Next, there's a wide array of industries you could work in. You could be involved in deals, which includes acquiring or integrating companies, or marketing, where you focus on how customers view a company. You might also work in IT, exploring how a company's tech capabilities drive its success and add value. These are just a few examples, and there are many more out there. To get a feel for these different areas, I'd suggest applying for an entry-level consulting internship. It's a great way to see how each sector is unique, and even I haven't experienced them all!
To answer your main question, consulting is incredibly diverse and can be customized to match everyone's individual interests and specializations. If your university offers consulting courses, I'd strongly urge you to sign up. But let me illustrate the work of a consultant with an example:
Imagine you're a consultant, and Company A hires you to assess their operations. Company A is a restaurant that doesn't use paper menus or take orders in person. Instead, they use iPads for all orders and requests, which go directly to the kitchen. Waiters only come over if you ping them on the iPad for things like water or utensils. Company A wants you, the consulting firm, to evaluate how using iPads has transformed their business operations. You might look at things like the restaurant's efficiency, customer satisfaction with this process, staff opinions on the technology, and the accuracy of orders with iPads.
I hope this explanation helps clarify your question.
Sharon Mei
Consultant
5
Answers
New York, New York
Updated
Sharon’s Answer
Consulting typically refers to a broad range of services where a professional service firm or an professional services individual performs research and providers advice on behalf of a client. Most typically, this is for a specific topic and scope of services that the consulting firm or consultant and the client will agree to ahead of time.
Bernardo Azevedo
Consultant
4
Answers
New York, New York
Updated
Bernardo’s Answer
Hi Zlee, hope you're doing well! I'll answer specifically for management consulting, but usually upper management will hire a consulting firm to conduct a special, target project. The consulting firm will work with client counterparts in order to develop a solution plan for whatever topic management has outlined, to then make a recommendation on the path that management should take. At the end of the day, clients dictate the direction they will take, so great consultants are ones that focus on making really educated recommendations and preparing your clients to perform to the best of their abilities!
Joseph Udofia
Cloud Engineer
11
Answers
Greensboro, North Carolina
Updated
Joseph’s Answer
In the consulting industry, firms like Deloitte and PwC often ink contracts with clients, typically to address their business hurdles. Subsequently, these firms delegate these tasks to their most skilled and competent team members. Ultimately, this results in a satisfied client and a fulfilled employee who takes pride in resolving business issues.