8 answers
Nicholas
Student
Lee, Massachusetts
1
Question
Asked
839 views
Business questions
What are business careers? How are accounts managed. Why are consultants important?
8 answers
Biplab Panda
Engagement Director
70
Answers
Atlanta, Georgia
Updated
Biplab’s Answer
As this is broad, I'll focus on answering one aspect of this question - the consulting portion, which is most near and dear to me.
Consultants are important as they provide expertise on either a temporary or permanent basis that augment the skillset of client companies in order to perform services that the consultancy's resources specialize in but the client company does not. If your company is a hospital, you may have an IT department, but your business strategy and operational focus will always be on healthcare, the patient-provider experience, and patient outcomes.
However, this does not eliminate the need for, for example, a cybersecurity team that provides security services. Consultants can fill in these crucial gaps that may be difficult to do so from an in-house perspective given a lack of in-house expertise and can either handle these functions on a temporary basis until in-house expertise is improved or on a permanent business as a service provider that offset some of the liability and responsibility that might otherwise spread an understaffed in-house IT department too thin.
This is just one example, but in general business and consultancy focus on how to provide added value for customers and operate profitably while innovating in order to remain competitive.
Consultants are important as they provide expertise on either a temporary or permanent basis that augment the skillset of client companies in order to perform services that the consultancy's resources specialize in but the client company does not. If your company is a hospital, you may have an IT department, but your business strategy and operational focus will always be on healthcare, the patient-provider experience, and patient outcomes.
However, this does not eliminate the need for, for example, a cybersecurity team that provides security services. Consultants can fill in these crucial gaps that may be difficult to do so from an in-house perspective given a lack of in-house expertise and can either handle these functions on a temporary basis until in-house expertise is improved or on a permanent business as a service provider that offset some of the liability and responsibility that might otherwise spread an understaffed in-house IT department too thin.
This is just one example, but in general business and consultancy focus on how to provide added value for customers and operate profitably while innovating in order to remain competitive.
Kelly arestia
Project Management
2
Answers
Tampa, Florida
Updated
Kelly’s Answer
Hello Nicholas,
These are very open questions that can have a wide range of answers. Here are a few for your consideration.
Business careers encompass a wide range of roles that business professionals pursue. These careers are highly flexible and offer varied development opportunities and work environments. You can pursue these careers in many fields, including marketing, accounting, and management.
Accounts are managed through various methods, depending on the type of account. For example, managed accounts are investment accounts owned by an investor but managed by a professional money manager. The manager actively makes investment decisions based on the client's needs, goals, risk tolerance, and asset size.
Consultants play a vital role in helping companies meet their objectives and stay ahead of the competition. They provide specialized advice and guidance to businesses of all sizes, helping them navigate complex business challenges and create elegant solutions that drive success.
These are very open questions that can have a wide range of answers. Here are a few for your consideration.
Business careers encompass a wide range of roles that business professionals pursue. These careers are highly flexible and offer varied development opportunities and work environments. You can pursue these careers in many fields, including marketing, accounting, and management.
Accounts are managed through various methods, depending on the type of account. For example, managed accounts are investment accounts owned by an investor but managed by a professional money manager. The manager actively makes investment decisions based on the client's needs, goals, risk tolerance, and asset size.
Consultants play a vital role in helping companies meet their objectives and stay ahead of the competition. They provide specialized advice and guidance to businesses of all sizes, helping them navigate complex business challenges and create elegant solutions that drive success.
I will use this advice as I prepare for my career.
Kingston
Tim Laycock
Manager
1
Answer
Lee's Summit, Missouri
Updated
Tim’s Answer
Business careers span a broad spectrum: Imagine a scale where on one end you have hourly workers contributing to the progress of a business, and on the other end, you have innovative entrepreneurs, turning their dreams into reality. And of course, there's a vast array of roles in between. Each step along this journey holds its unique importance, and it's all about finding where your personal motivation and skills shine the brightest. If you're an entrepreneurial spirit, you might not find fulfillment in a desk job, helping someone else's dreams come to fruition. But remember, there's a certain level of stability that comes with earning a steady paycheck from working for others.
Once you've figured this out, it's time to explore major areas such as sales, marketing, strategy, operations, and management.
Then, delve into various industries: Technology, Banking, Manufacturing, Entertainment. Each offers unique opportunities and challenges. So, go ahead and find your perfect fit in the exciting world of business!
Once you've figured this out, it's time to explore major areas such as sales, marketing, strategy, operations, and management.
Then, delve into various industries: Technology, Banking, Manufacturing, Entertainment. Each offers unique opportunities and challenges. So, go ahead and find your perfect fit in the exciting world of business!
Adaobi Ogheneovo B.SC Acct, MPA , IBM
CLIENT MANAGER
65
Answers
Saint John, New Brunswick, Canada
Updated
Adaobi’s Answer
Business Careers
Business careers encompass a wide range of roles in various fields such as marketing, finance, management, and human resources. Some common business careers include:
- Marketing Specialist: Develops and implements marketing strategies.
- Financial Analyst: Analyzes financial data to help businesses make informed decisions.
- Human Resources Manager: Manages employee relations and organizational development.
Account Management
Accounts are managed by professionals who oversee financial transactions, maintain records, and ensure compliance with financial regulations. This can involve:
- Bookkeeping: Recording daily financial transactions.
- Financial Reporting: Preparing financial statements and reports.
- Investment Management: Managing investment portfolios to meet specific financial goals.
Importance of Consultants
Consultants are crucial for businesses because they provide specialized expertise and objective advice. They help companies improve performance, solve complex problems, and achieve their goals. Consultants bring fresh perspectives and can offer tailored solutions to meet specific business needs.
Business careers encompass a wide range of roles in various fields such as marketing, finance, management, and human resources. Some common business careers include:
- Marketing Specialist: Develops and implements marketing strategies.
- Financial Analyst: Analyzes financial data to help businesses make informed decisions.
- Human Resources Manager: Manages employee relations and organizational development.
Account Management
Accounts are managed by professionals who oversee financial transactions, maintain records, and ensure compliance with financial regulations. This can involve:
- Bookkeeping: Recording daily financial transactions.
- Financial Reporting: Preparing financial statements and reports.
- Investment Management: Managing investment portfolios to meet specific financial goals.
Importance of Consultants
Consultants are crucial for businesses because they provide specialized expertise and objective advice. They help companies improve performance, solve complex problems, and achieve their goals. Consultants bring fresh perspectives and can offer tailored solutions to meet specific business needs.
Steven Spencer
Healthcare Industries Consulting
1
Answer
Chicago, Illinois
Updated
Steven’s Answer
As a consultant, I will focus on that aspect of the question as others in this thread have given great responses related to the search for a business career that best fits for you as well as account management:
Consulting is a diverse field that extends beyond traditional 'business' roles. At a big 4 consulting firm, our teams work in various areas including accounting, cybersecurity, IT system integration, and even specialized industries like medical devices and pharmaceuticals. In a general sense, consultants provide expertise or services that a company may not have in-house. Our engagements can range from a few weeks to several years, depending on the client's needs. We are typically brought in to address specific concerns, identify potential gaps, or assist during significant changes like new project initiatives or mergers, where the company lacks prior experience.
Given the wide range of consulting fields, there's no single path to enter the industry. It's important to find a career path that aligns with your interests and goals. Once you do, you'll likely find a consulting group that specializes in that area!
Hope this helps!
Consulting is a diverse field that extends beyond traditional 'business' roles. At a big 4 consulting firm, our teams work in various areas including accounting, cybersecurity, IT system integration, and even specialized industries like medical devices and pharmaceuticals. In a general sense, consultants provide expertise or services that a company may not have in-house. Our engagements can range from a few weeks to several years, depending on the client's needs. We are typically brought in to address specific concerns, identify potential gaps, or assist during significant changes like new project initiatives or mergers, where the company lacks prior experience.
Given the wide range of consulting fields, there's no single path to enter the industry. It's important to find a career path that aligns with your interests and goals. Once you do, you'll likely find a consulting group that specializes in that area!
Hope this helps!
Rebecca Tang
Banking
1816
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question.i am glad to hear that you have interest in business. In fact, there are many careers related to business, eg finance, accounting, banking, human resources, marketing, administration, etc. Each of these careers has its own specific domain of knowledge.
Below are my suggestions:
1. Find out more business related careers. There are plenty of information online.
2. Find out more on these careers and determine what you have interest
3. Speak to someone who are working in these careers. Seek guidance from your mentor, school career counselor, your parents, etc
4. Shortlist 1-2 careers you would like to pursue
5. Explore the entry criteria of relevant subjects in colleges
Hope this helps! Good luck!
May Almighty God bless you!
Below are my suggestions:
1. Find out more business related careers. There are plenty of information online.
2. Find out more on these careers and determine what you have interest
3. Speak to someone who are working in these careers. Seek guidance from your mentor, school career counselor, your parents, etc
4. Shortlist 1-2 careers you would like to pursue
5. Explore the entry criteria of relevant subjects in colleges
Hope this helps! Good luck!
May Almighty God bless you!
Julia Oberrotman
Corporate Strategy
2
Answers
San Francisco, California
Updated
Julia’s Answer
Management consultants significantly enhance a business by offering an "outside-in" innovative viewpoint and thorough data analysis. This allows them to guide company leadership teams, thereby shaping the company's trajectory. They provide insights on a variety of areas, such as industry best practices, data indicating how a company lags behind its competitors (for instance, in terms of product launch speed, customer experience, profitability), potential new markets for business expansion and scaling up profitably, and the sort of new talent profiles required.
This blend of external viewpoints, data-backed suggestions, and experience working alongside a company's peers and competitors often persuades business leaders to modify their approach and gain a clearer understanding of how to enhance their operations. This makes management consultants a valuable asset to any company seeking growth and improvement.
Suggest researching the key consulting companies: McKinsey, BCG, Bain, Deloitte and understanding their practice areas
Suggest researching linkedin profiles of people who work in consulting and their career journeys. (i.e. you'll see many folks do consulting early in their careers, gain broad business experience, then land in leadership roles in industry.)
This blend of external viewpoints, data-backed suggestions, and experience working alongside a company's peers and competitors often persuades business leaders to modify their approach and gain a clearer understanding of how to enhance their operations. This makes management consultants a valuable asset to any company seeking growth and improvement.
Julia recommends the following next steps:
Tanner Law
Senior Analyst
3
Answers
Charleston, South Carolina
Updated
Tanner’s Answer
There are so many ways to answer this because business-careers as a term includes an array of options. Business careers can be related to management, operations, finance, marketing, HR, legal, etc. As a general rule, you'll find business careers will be office-oriented and less field-oriented (although there are field-oriented business jobs... such as outside sales roles).
With a business career, you'll likely have room for growth (think promotions to higher-level jobs), learning (workplace development, certifications, etc.) and networking (peers, partners and contacts at other organizations).
"Consultant" is a title you'll find at most companies, but the role will vary by organization and department. Likewise, roles like "Senior Analyst" or "Senior Manager" will vary. My suggestion would be to focus on the job description more than the job title. Title can be important, but the job description is more important.
With a business career, you'll likely have room for growth (think promotions to higher-level jobs), learning (workplace development, certifications, etc.) and networking (peers, partners and contacts at other organizations).
"Consultant" is a title you'll find at most companies, but the role will vary by organization and department. Likewise, roles like "Senior Analyst" or "Senior Manager" will vary. My suggestion would be to focus on the job description more than the job title. Title can be important, but the job description is more important.
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