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Consulting 101: Operations, Hierarchies, and Types of Firms

Tom Spencer

In this short post, we will briefly explore how consulting firms work, the hierarchy within firms, the main types of firms, and a few ways to learn more about a particular firm as you chart your career path, prepare your applications, and get ready to matriculate into the consulting industry. How do Consulting Firms Work?

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Management Consulting

CaseInterview.com

At its most basic, management consulting is the business of providing strategic advice to businesses. Rather than addressing the operational angle of how to do it, we address the bigger question of what to do. They may hire a consultant to advise on ideas for gaining market share.

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The Barriers to Recruiting and Employing Digital Talent

Harvard Business

But it’s particularly difficult for large, traditional firms , especially those which operate in consolidated, non-growth industries (think pulp and paper, steel, airlines) and which are often located away from the metropolitan areas where data scientists live. Seeing bottom-up initiatives through.

Talent 33
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Management Consulting versus Investment Banking

Management Consulted

Consultants – depending on firm – travel anywhere from 25-75% of their time. At the Big 3 (Bain, Boston Consulting Group, McKinsey), you can expect travel 50-75% of the time. This expertise may be as broad as “operations turnaround” and as specific as “benchmarking for insurance companies.”

Banking 272
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Why an Innovation Culture Matters

Organizational Talent Consulting

The financial and operational rewards for innovation are significant. According to a recent global study by the Boston Consulting Group, more than two-thirds of executives have identified innovation as one of their top three business priorities. improved operational productivity. improved commercial value.

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Thought leadership – by any other name would it smell as sweet?

Tom Spencer

For top-tier consulting firms, there are two primary marketing efforts – the first, marketing to attract entry-level recruits, is quite visible. There are no bus stop advertisements for McKinsey & Company; no online pop-up ads for the Boston Consulting Group.

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Business consulting services

Asamby Consulting

A strategy consultant will take an overall view of the client's business and market while looking at its allocation of resources, and try to improve the client’s business. Operations To put it simple, operational consulting improves the optimization of a company's internal operations and performance in the value chain.