Consulting Kick Off-Session. Consulting 101

Transcription

1 Consulting Kick Off-Session Consulting 101 Introduction to Consulting President Introduction Vinson Pham Consulting Overview MCSC 2016

2 Agenda 1. Introduction 2. Consulting Overview 3. Marshall Consulting & Strategy Club 4. Alignment Survey 2

3 What is consulting? Consulting means giving advice to help companies solve their most challenging business problems Consultants offer their advice and skill in solving problems, and are hired by companies who need the expertise and outside perspective that consultants possess Introduction Consulting Overview 3

4 How does strategy differ from consulting? Corporate strategy is the overall scope and direction of a corporation and the way in which its various business operations work together to achieve particular goals. Consult for company s largest B2B clients (Internal Strategy Consultant) Developing formal strategic alliances (Strategic Partnerships) Developing & implementing strategic growth initiatives (Business Development) Define company strategies and allocating resources accordingly (Strategic Planning) Planning and execution to meet specific organization objectives, largely M&A (Corporate Development) Introduction Consulting Overview 4

5 Consulting snapshot Compensation Consulting Functions Hiring Trend $135K $145K Consulting Average (MBA) 7+ Functions Strategy Customer Technology M&A Finance Human Capital Operations Healthcare Analytics 92% of consulting firms are looking to hire top MBA talent Source: Graduate Management Admissions Council 5

6 Top firms that hire from Marshall 6

7 Industry vs Function Consumer Products Retail Media & Entertainment Technology Energy & Utilities Health Industries Life Sciences Financial Services Government & Public Sector Automotive Manufacturing Real Estate Telecommunications Hospitality Mining & Metals Manufacturing Strategy Growth & Development Innovation Strategy Transformation Analytics & Decision Making Government/ Regulatory Strategy Global M&A Merger Integration Divestitures/Separation Commercial Due Diligence Capability Development IPOs & Carve Outs Operations Planning Sourcing & Procurement Logistics & Distribution Product Innovation & Development Product Safety Sustainability Customer Customer Insight & Experience Sales & Marketing Strategy Channel Segmentation Customer Service Management Pricing Branding Human Capital HR Transformation Change Management & Communication Org. Design Leadership & Culture Training & Development Finance Financial Management Enterprise Performance Management Effectiveness Benchmarking Capital Markets & Managing Value Treasury Optimization Technology Application Management Services Analytics and Information Management Digital Design and Strategy Technology Strategy & Architecture Oracle & SAP 7 7

8 What are the rewards of consulting? Learning curve Exposure to top management at a young age Consultants learn a LOT about various industries and functions quickly Accelerated career path Extensive exit opportunities Three years in consulting can provide opportunities that require much more than three years of industry experience Challenges A new, different project every few weeks or months Something new every day Consultants are challenged to stretch in new ways Pure strategy High-level corporate strategy Projects that shape business strategy and organization 8

9 What are the challenges of consulting? Work-life balance Typically hours per week Hours vary based on deadlines, client needs, and project type On-call Late hours and tight deadlines are common Weekend work, while not the norm, is not uncommon and is expected when the need arises Travel Varies considerably by firm, industry, office and project Typical schedule is : five day workweek, four days at the client site, three nights spent away High attrition To some degree, major consulting companies have an up or out policy Consultants are often solicited for other jobs and many take these opportunities 9

10 Marshall Consulting & Strategy Club Marshall Consulting & Strategy Club (MCSC) is the gateway to consulting & strategy Provide members with access to the best resources to prepare them for careers in management consulting and internal strategy Bring its members together with representatives from the industry's leading firms through various types of events Increase the visibility of the Marshall MBA to the consulting and strategy industries MCSC Alignment Survey 10

11 Consulting Resources Career Resource Center (CRC) & Marshall Consulting & Strategy Club (MCSC) Company presentations Resume drops Past behavioral questions Educational events Networking events Case interview preparation Mentorship program Other recruiting resources MCSC Alignment Survey 11

12 MCSC Board MCSC Alignment Survey 12

13 How to sign-up and use CampusGroups? MCSC Alignment Survey 13

14 MCSC attendance tracker Make sure you RSVP to every event you attend Make sure you check-in to every event Tracking helps to measure your level of engagement with MCSC as well as other clubs MCSC Alignment Survey 14

15 Upcoming MCSC events Case Prep 101 on Wednesday, August 24 th from 2:00-3:20 p.m. in JKP 212. No sign-up required. KPMG Back to School Mixer on Thursday, August 25 th from 5:00-7:00 p.m. at the University Club. Sign-up via CampusGroups. Networking 101 on Tuesday, August 30 th from 3:30-5:00 p.m. in JKP 104. Sign-up via CampusGroups. MCSC Alignment Survey 15

16 Marshall Case Competition Program Marshall s Case Competition Program (MCCP) is the umbrella program that manages and supports case competitions internally and externally. 45 Case Competitions (25 travel, 11 local, 9 internal) Participate in 7 training sessions which covers best practices, resources, and steps toward victory We strongly encouraged you to attend these training sessions! Sign Up Today on MCCP s Campus Groups Page! Date Time Room Training Session 23-Aug 3:30pm-5:00pm JKP 300 MCCP Kickoff & PowerPoint Tips and Tricks 25-Aug 5:00pm-6:20pm JKP 210 Prepping for Competition & Workshop 30-Aug 3:30pm-5:20pm JKP 212 Creating the Perfect Deck & Presenting 1-Sep 12:30pm-1:50pm JKP 104 Deconstructing the Case 6-Sep 12:30pm-1:50pm JKP 102 Case Competition Financials 14-Sep 12:30pm-1:50pm JKP 300 Beyond the Competition 22-Sep 4:00pm-6:20pm JKP 210 Pitch Competitions 16

17 Alignment survey bit.ly/mcscsurvey

18 Questions Questions? 18