The consulting industry provides many services and covers many industry sectors, and so the domain knowledge and expertise that a consultant needs will vary depending on the industry focus and services that the consultant actually provides. That being said, there are some generic skills that every consultant will need to have. As a starting point, […]
Category: Consulting
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9 M’s Resource Audit Checklist
An organisation’s approach to strategy will always depend on the circumstances. Who are the organisation’s competitors? There will be existing competitors, and outsiders who might threaten to compete in future. And who are the organisation’s customers? There will be existing customers, and larger groups that the organisation wants to target. By understanding the external environment, an organisation will then be […]
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What Do Consultants Do Each Day?
Consultants work on projects of varying lengths, and are often required to travel to work on site with the client. The specific tasks that a consultant undertakes will depend on which firm she works for, the project requirements, as well as her level of seniority and experience. Projects typically follow a predictable cycle which involves […]
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Types of Consulting
There are many different types of consulting. As an aspiring consultant, you would be well advised to understand your options so that you can make an informed decision about which kind of consulting is right for you. Here are five (5) of the main types of consulting that might interest you: Strategy: Think BCG, McKinsey and Bain […]
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What is Consulting?
“Consulting” is a pretty general term, and doesn’t really give you a clear idea of what consultants actually do. The Oxford dictionary indicates that “to consult” means to “seek information or advice from someone (especially an expert)”. In other words, consultants are people who provide expert advice. We are interested mainly in the consultants who provide advice […]
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A Career In Management Consulting
Consulting is an appealing career choice for many graduates. Consultants have the potential to travel with work, network with Fortune 500 executives, earn six figure salaries, develop high-level transferable business skills, and benefit from lucrative exit opportunities. What’s not to like? Well, for all its benefits, the life of a consultant is not necessarily a bed of […]
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How To Deal With Rejection
If you have gone through the consulting interview process and are not offered a position with your target firm, then you should find out why. There are two reasons this is important. Firstly, getting specific feedback on your performance is the only way you can learn and improve. Secondly, you may discover that the firm has […]
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Negotiating An Offer Of Employment
If you have received an offer of employment from the consulting firm of your choice, you may still want to negotiate the terms of the offer. How should you go about doing this? Use your bargaining power Your ability to negotiate the terms of your offer depends on how much bargaining power you have. The consulting […]
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Accepting An Offer Of Employment
If you are offered a position with a consulting firm (and are happy with the terms of the offer) then feel free to accept it. You can talk to the recruitment management to let them know your decision, and you will also need to sign, date, and return a copy of the offer letter. Be sure to […]
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After The Interview
(Source: Flickr) We have talked at length all year about consulting interviews, and in this post we provide three (3) thoughts on what to do after the interview comes to an end. Confirming the next step: To find out about the next step in the recruitment process, talk to the recruitment manager (this will probably be someone other […]
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Practice Case Questions
(Source: Flickr) If you want to practice case questions, I highly recommend Marc Cosentino’s book Case in Point. You can also access sample case questions from various consulting clubs here, and from the following consulting firm websites: McKinsey & Company; Bain & Company; Oliver Wyman; Deloitte; A.T. Kearney; Accenture; and L.E.K. Consulting. [For more information on consulting […]
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Product Market Expansion Matrix
The product-market expansion matrix may prove useful in the consulting case interview and is relevant when considering growth strategies. It might be used on a standalone basis or as part of a larger profitability framework. There are four ways that a company can pursue growth: Market penetration: A strategy to increase sales to existing customers […]
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Outsourcing Matrix
The outsourcing matrix may prove useful in the consulting case interview, either as a standalone framework or as part of a larger profitability framework. With the view to reducing costs, there are three questions that a firm would do well to consider: How long will it take to reduce major cost drivers? Are the activities strategically […]
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McKinsey 7 S Model
While you may not directly use the 7 S Model in the consulting case interview, it will give you a deeper understanding of how to examine the inner workings of an organisation, identify strengths and sources of competitive advantage, as well as weaknesses and reasons why an organisation may not be operating effectively. The 7 […]
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BCG Growth/Share Matrix
While it may not be a core framework for solving consulting case questions, the BCG Growth Share Matrix can help to broaden your understanding of how a company might want to allocate cash between products and business units. The framework is based on the idea that the amount of cash a product uses is proportional […]
(Source: Cydcor) This is a guest post from Archie Ward. Take responsibility for getting the most value out of the next conference you attend. By planning ahead and thinking strategically, a conference can generate sales, increase business, improve vendor relationships and initiate strategic partnerships. Going to a conference can renew excitement about the business, open […]
2020 Delivery is a management consultancy committed to improving public services and bringing about lasting change within public sector organisations. I recently had the good fortune to talk briefly with Mike Meredith who is a Director at 2020 Delivery, and leads the firm’s people development function. Please read the edited transcript of my discussion with […]
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Value Chain Analysis
Value Chain Analysis is another tool that may prove useful during the consulting case interview. It can be used to analyse the cost structure of a company as part of a declining profitability case, or to analyse the supply chain as part of an operations case. To understand which activities provide a company with a competitive […]
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Four P’s Analysis
Four P’s Analysis is a framework that may prove useful for solving consulting case questions. It can be used to evaluate the marketing strategy for a product. 1. Price The pricing strategy that a company employs will affect its market share and profitability. There are three key pricing strategies to consider. Competitive pricing: How do prices compare with […]
(Source: reynermedia) This is a guest post from Archie Ward. Many business people do not know how to bond with their clients. This is because the majority of such individuals struggle to find time to enjoy themselves. If you are such an individual, then there are things you can do to help you bond with […]
There were rumors circling last week that Crescendo Partners (the elite global advisory firm based in Sydney) are winding down their operations. These rumors are incorrect. Crescendo Partners MD Joseph Crepaldi confirmed to me by email that while the physical office has been closed because the building is being brought down, Crescendo Partners is still active!
I recently had the good fortune to communicate with Anne Burley, Director or Regional Talent Acquisition for Asia Pacific at A.T. Kearney. A.T. Kearney is a leading global management consulting firm with offices in more than 40 countries. A.T. Kearney is a partner-owned firm, committed to helping clients achieve immediate impact and growing advantage on their […]
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Porter’s Five Forces
The Porter’s Five Forces framework is used to determine the competitive intensity and attractiveness of an industry, and is relevant in the context of entering a new market, M&A, or starting a new business. The intensity of competition will depend on the strength of the five competitive forces, however the significance of the forces will vary by […]
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Three C’s Framework
The Three C’s Framework may prove extremely valuable for consulting case questions. It can help to assess the business situation in the context of entering a new market, M&A, product development, and starting a new business. It involves examining customers, competition, and the company. 1. Customers Eight (8) factors to consider when examining the customer. 1. Customer […]
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Profitability Framework
The profitability framework is probably the most important framework for solving consulting case questions Profit equals revenue minus cost. 1. Revenue Revenue is normally thought of as being a function of price per unit and units sold. Declining revenue can derive from a fall in prices or a reduction in units sold, and can be […]
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Case Math
(Source: Flickr) In this post we outline some mathematical concepts that may prove useful for solving consulting case questions. 1. Break Even Analysis: Relevant when trying to decide whether to launch a new product or invest in a project with high fixed costs. 2. Customer Lifetime Value: Customer lifetime value is a prediction of the entire future […]
I was grateful for the recent opportunity to communicate with Jennifer Marsh, Global Head of Public Relations Strategy, and Cheryl Coulthurst, Global Head of Talent Acquisition, at North Highland. Founded in 1992, North Highland is an employee-owned global management consulting firm that has been named as a Best Firm to Work For every year since 2007 […]
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Sample Consulting Case Questions
(Source: Flickr) Below we provide a selection of sample consulting case questions. The questions are broken down into seven (7) question types to make them easier to digest. 1. Declining Profitability Our client is eBay. Its share price fell from $310 to $200 per share on reports of declining profits. What’s going on and how […]
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Concluding A Consulting Case Question
(Source: Flickr) At the end of a case question it is important to provide a summary of the problem and a set of actionable recommendations that answer the question. Recommendations should be justified with the key findings that you had been noting down as you progressed through the case. For example, you might say something like […]
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Tackling A Consulting Case Question
(Source: Flickr) The second stage of a consulting case question, after setting it up, is to solve the problem. Here are six (6) tips for successfully tackling a case question: Find the source of the problem – You might get asked a question such as “Profits have declined, what should we do?” Before diving head long […]
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Setting Up A Case Question
(Source: Flickr) When it comes to answering a consulting case question, there are three stages to the answer: setting it up, solving it, and providing a recommendation. The first stage is setting it up, and below we provide five (5) steps to setting up a case question: 1. Summarize the question Give yourself time to think by writing down […]
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Conversation with Cartesian
I recently had the good fortune to talk briefly with Adam Fraser who is a Business Analyst at Cartesian. Cartesian is a specialist provider of consulting services and managed solutions to leaders in the global communications, technology and digital media industries. Please read the edited transcript of my discussion with Adam below. This will be […]
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Playing For Time In The Case Interview
(Source: Flickr) If you get stuck during a case question then there are four (4) things you can do to regain momentum. If the interviewer has just given you some information then you can say something like “let me take a second to consider that information”. You can safely stay silent for up to 90 seconds […]
(Source: Flickr) The business case question is the cornerstone of the consulting interview, and consulting firms use it to assess a candidate for a number of qualities: Structured thinking; Numerical ability; Communication skills; Comfort with ambiguity; Speed of thought; Knowledge of key business concepts; Enthusiasm for consulting; Calm resolve under pressure; and Ability to represent […]
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Factors Questions
(Source: Flickr) Factor questions are a type of question that you may come across in consulting interviews. They are designed to help the interviewer see how you think, and you might be asked a question such as “What factors influence X, Y, Z?” or “What factors would you consider when A, B, C?”. An example […]
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Answers to Sample Brainteasers
(Source: Flickr) Last week we provided a list of ten (10) sample brainteasers that you might come across in consulting interviews. If you didn’t read the post, you might want to read it before taking a look at the answers below (to read last week’s post, click here). Answers to Sample Brainteasers A round manhole cover cannot fall […]
I recently had the opportunity to communicate with Janine Clifford, Recruitment & HR Manager at L.E.K. Consulting. L.E.K. Consulting is a global management consulting firm that uses deep industry expertise and analytical rigor to help clients solve their most critical business problems. Please read my discussion with Janine below. This will be of particular interest […]
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Brainteasers
(Source: Flickr) Brainteasers are another kind of question that you might confront in consulting interviews. They are likely to be tricky and to require “out of the box” thinking. Why do interviewers ask brainteasers? Well, since clients can sometimes ask questions which have no immediate or obvious answer, the goal of the brainteaser is to assess […]
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Math Questions
(Source: Flickr) In consulting interviews, the interviewer may quiz you on your quantitative skills with one or two short maths questions. Below we outline six (6) sample math questions to give you an idea of what to expect: What is 13 x 13? What percentage is 5 of 42? The total smart phone market is $900 […]
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Sample Guesstimate Questions
(Source: Flickr) The guesstimate question (market sizing or other) is one of the types of question you are likely to encounter in consulting interviews. Below we list twenty three (23) sample guesstimate questions broken down by question type. Population Questions How many births are there in America each day? How many petrol stations are there […]
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Approaching the Guesstimate Question
(Source: Flickr) A guesstimate question can be approached by breaking a question down into smaller pieces by asking the interviewer questions and making a series of narrowing assumptions. You can break a question down either by starting big (e.g. making an assumption about the total population) or starting small (e.g. making assumptions about the average household […]
I was grateful for the recent opportunity to talk with Heather Tortorello, the talent growth director at Vivaldi Partners Group. Founded in 1999, Vivaldi Partners Group works across industries to help build strong brands, ignite innovation and drive growth by connecting business strategy with a deep understanding of changing customer contexts. Please read the edited […]
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Guesstimate Questions
(Source: Flickr) The guesstimate question frequently comes up in consulting interviews. It will often be a market sizing question, which may be a standalone question or part of a larger case question. What will you be asked to do? The typical guesstimate question will require you to estimate a number by doing a rough “back […]
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How to Answer Behavioural Questions
(Source: Flickr) In consulting interviews, when you are asked a behavioural interview question, you will typically want to include five things in your answer: A specific situation; The goal you set for yourself or obstacle you faced; The action you took; The outcome achieved; and What you learned from the experience. [For more information on consulting interviews, […]
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Sample Behavioural Interview Questions
(Source: Flickr) Behavioural interview questions are one type of question that you are likely to encounter in the consulting interview. Below we provide thirteen (13) sample questions to give you an idea of what to expect: Tell me about yourself. Can you provide an example of a time when you demonstrated leadership? Can you provide […]
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Behavioural Interview Questions
(Source: Flickr) In consulting interviews, the interviewer is likely to ask questions based on your résumé with the aim of understanding your skills and experience. Your résumé may provide a structure for these kinds of interview questions, but you also need to be prepared to elaborate on your experience including by highlighting your skills using […]
This is a guest post from Archie Ward, a business consultant and social media strategist. Archie splits his time each year between Asia and Australia. While he is hard at work helping other people make their businesses successful, he hopes to launch his own by year end. Consultants rely on image as much as they […]
(Source: Flickr) Below we outline twelve (12) tips for nailing the guesstimate question: 1. Practice Practice doing some guesstimate questions before the interview so that you are prepared. It is a good idea to bring a pen and graph paper to the interview so that you can keep track of your calculations. 2. Know some […]
I recently had the good fortune to speak with Nigel Lake, CEO of Pottinger, a global corporate advisory firm based in Sydney, Australia. Nigel is a truly original thinker who combines a good sense of humour with sharp strategic insights and clarity of thought. I had originally intended to ask Nigel some questions about Pottinger […]
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Have you ever failed at anything?
(Source: Flickr) Another question that may come up in the consulting interview is “have you ever failed at anything?” This question is designed to assess your ability to learn from experience, and overcome obstacles. In preparing a response to this kind of question, develop a story about a time that you were not able to […]