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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. Leveraging digital skills across the organization.

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Business consulting services

Asamby Consulting

It is crucial for business owners to understand where they stand, what they want to achieve, and how to execute their strategies. 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.

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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.”

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L.E.K. Strategy Consulting Interviews and Culture

Management Consulted

A global consulting firm founded in London, England in 1983 and containing the heart and of Bain & BCG, L.E.K. is a Life Sciences and Healthcare powerhouse with expertise across a growing number of fields including Private Equity, Strategy and Mergers & Acquisitions. CONSULTING. Consulting Website: www.lek.com.

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Top Consulting Firms

CaseInterview.com

What are the Top Consulting Firms? While it sometimes seems that everyone wants to get into the top 3 strategy consulting firms McKinsey, Boston Consulting Group (BCG), and Bain & Company (Bain), also known as MBB , it's worth noting that there are several other top consulting firms that can give a career a real boost.