It’s more about delivering value on a specific aspect of a transaction rather than on a strategic project like operational consulting. It’s particularly true in a small firm like ours, but even at bigger companies, it’s easier to stand out and advance because you have more results to point to in our line of work. I just received it by mail today so I’ll edit the article. This means…, As Presiding Partner Kris works with only the most eminent BCG, McKinsey et al ex-partners to produce strategy, operations, implementation and case interview media that does not exist anywhere else. In other words, it is more M&A focused, and appears only when doing synergy review or operation models, Delivering deal value team will assess how much operation upsides are there for targets. This is an overview of one such study. They also work on internal projects at least 2 hours per week. What do you think about working in the Corporate finance dept of a bluechip company which is into say Mfg FMCG products as against CF in the Big 4 (i read the article about ‘ a day in the life of CF) Is their more strategy involved in the first option like strategic buyouts or acquisitions,pricing policy,cost management , which i think is true because of the size and nature of business of that bluechip org. Hi Ollie and thanks for your comment. Apply for Management Consulting Jobs in Deloitte United States. We are part of your … I’d disagree a little – In my mind there is strategic consulting (strategic planning, tactical planning), portfolio management consulting (investment assessment framework, investment decisions, etc. I am mechanical engineer , Do I need to do MBA and if then how will it help. The accounting firms tend to be good at financial processes and operations. But if you’re currently an engineer, you will likely need a top MBA to make the switch because most consulting recruiting takes place at universities and business schools. Will your lifestyle be better or worse as an Operational Strategy Consultant? At the end of an operations project, the client also will receive a detailed report outlining metrics, benchmarks and a laundry list of changes to improve the operations. Strategy engagements tend to involve long hours; they have a high intensity and involve senior client engagement. Principles like decision trees, MECE and hypotheses led research are used. I know everyone will tell me it’s crazy to try to jump to a completely different field but any suggestions? CPA vs. Management Consulting - 0:32 Consulting As A CPA - 1:11 Management Consulting - 3:16 What Should You Do - 5:45 Big Four Firm | In this series, Steph & Den will dive into … Q: Right, it does seem different. For example, Boston Consulting Group (BCG) is a well-known project management consultancy. Implementation is not just for the smartest MBAs. Efficiency Boutique consulting firms … This slows down implementation projects. I got drawn away from public accounting because I just didn’t feel the tangible affect of working in auditing. In all my time as a management … A: It doesn’t work that way, unfortunately. No, it is not necessary. Thanks for clarifying all the categories. A: My main recommendation is to have an operational & down-to-earth approach to consulting. Legendary basketball coach John Wooden was famous for telling his players in during their first practice, “Gentleman, this is … This is a nice little sales pitch, but there seems to be a lot of confusion when it comes to consultants’ ability to produce “tangible” results, which supposedly happens through operational consulting. My initial assumption is operational due diligence pre-deal and operational improvement/cost reduction (branded as FasTrack in the UK) post-deal. A: One silly question we hear a lot: “So what are your internal training programs like?”. regards, peter @ operationconsultinggroup.com. That’s also why we are very selective in the recruiting process! The difference is that none of the elite consulting firms do implementation work very well, and I am not sure they could do it well even if they tried. Thanks a lot to Axel De La Forest for sharing his experience with our readers. Everyone knows the recommendation: get to first place. I learned a lot but felt I wasn’t realizing my full potential. The strategy calculated that doing this would lead to the airline saving $100 million over 3 years. • An outside organization demands that a consultant be brought in, e.g., a … This website and our partners set cookies on your computer to improve our site and the ads you see. We'll email you when new articles are published on this topic. Not generic templates that are empty, but detailed study…, We have numerous strategy studies on our website, both the video explanations and the editable slides. At the end of a strategy engagement, the client is given a detailed report outlining the exact market shares, pricing, volumes and other conditions under which the recommended strategy will work. Well that was interesting nut couldn’t you name the guy who granted you that generous interview? Strategy work refers to helping senior executives determine the overall direction in which they will take the business. I do see some PEs want FastTrack products to quickly improve operation in order to flip and sell. Operations and strategy engagements use the same highly disciplined problem solving processes, but they apply it to different parts of the business. While you will see frameworks and processes, we teach you how to develop them and why we developed them. Not so many moved to PE from this team but a lot go to corporations and become the head of operations or operational specialist in industrial companies, which can be very good exits. Management consulting is the practice of helping organizations to improve their performance.Organizations may draw upon the services of management consultants for a number of … So you spend more of your time at our headquarters looking for and pitching opportunities. If you really want to get into finance I suggest taking more and more assignments related to finance rather than IT and changing your image internally, then make the transfer through heavy networking. I don’t specialize in this area, so I can’t make concrete suggestions. I have been offered a position in audit for financial services with a big4, I really want to move into big4 corporate finance (mid market M&A advisory minus the financing) and I think audit may be my way in within a few years through leveraging my consulting experience with the accounting/finance work I will have done. Here, we invest a lot into retaining our consultants and helping them advance and move up to more senior levels once they’ve proven themselves. You could also work in some type of strategy position at a Global 500 company. But if you find an investment fund that focuses more on operational improvement and turnaround situations, you might be able to pitch yourself and win offers there. Do you know is it anything like operating consultant? Would this path help set me up to enter an operations consulting or biz dev/ corp dev. Thanks Nicole! Consulting Strategy, Analytics and M&A Customer and Marketing Business Operations Human Capital Enterprise Technology & Performance Financial Advisory Mergers & Acquisitions Forensic Real Estate … Q: Ok, so I think we understand what operational consulting is in theory. Let’s assume Bain advised an airline to set up a new low-cost airline division. Consulting … Adding value can be having a new set of eyes on a project, having common sense and asking pertinent questions or applying methodologies to find weak points in a proposal or business process. @George, it’s hard to convey that completely in one article but I studied some of the work they’ve done and trust me it’s very concrete (think redesigning the product offer AND implementing it in all the banks of the country). We know management consulting Black & Veatch Management Consulting, LLC brings together more than 230 professionals, including experienced industry executives, senior analysts and technology … Argon Consulting has merged with Crimson & Co Transforming operations... We help clients achieve their strategic and operational objectives, working together to transform their … A: My answer is a little biased because our firm is very young – and our attrition rate remains very low. If you’re an outside-the-box thinker who enjoys exploring the myriad ways people, strategy, operations, and process improvement help shape the future of our clients’ organizations, then you may be the right fit for one of Deloitte’s consulting … Yes, there are strategic and operational projects. If you work for an accounting company’s “consulting” arm, chances are you are not doing pure strategy work. Proper strategy consulting can only be done for the most senior executives. Capgemini used to be good at implementation through their United Research team. type of role? A: Junior consultants spend 90% of their time at the client’s office, in meetings or preparing for meetings. Thanks. Of course, there are also regional and sector specialists. Your email address will not be published. But in operational strategy consulting you strive to conduct the project from the very beginning, through the definition of the solution to the implementation and the deployment. Our supply chain consulting and other types of operations consulting have delivered billions of dollars in sustainable operations improvements for our clients, and our working capital management … The rest have poor records. So please reserve this question for jobs with more theory and less time spent in the field. And there is a big gap between than and any other type of consulting work. Operations consulting is just as tough, just as intense and just as appealing as strategy consulting, provided it is done correctly. Technology consulting involves finding out how technology can improve a business What else can you tell us about this one? And there’s more diversity in the technical skills than in investment banking because each project is different – sometimes you’re learning about a customer management system, sometimes it’s information technology, and other times you’re learning about finance or risk management. Very helpful! M&I – Nicolas: Thanks a lot to Axel De La Forest for sharing his knowledge. Great article, I really enjoyed learning more about this. Well as Nicole a MBA is pretty good to rebrand yourself completely. I also work in operational management consulting with a major IT consulting company. Is it really necessary to get an MBA at this point? Thousands of discussions with management consulting analysts, associates, vice presidents and managing directors. This article seems to touch upon that where you can go in and make a strong and tangible difference with your clients. Learn the skills to become a leader and contribute to the world. So yes, junior consultants can add value to projects. This is your disrupted world, and ours. Supply chain leaders can use this Market Guide when searching for a supply chain strategy and/or operations consulting … The IB offers good pay and brand name but a back-office role (smelling boring all over it) While the consulting … Management Consulting Forum. If junior consultants didn’t add value we would just be cheating our clients. So do you agree with the common criticism that management consulting firms do not produce tangible results? So if you think being a specialist speaks to you, choose any of the above certifications and … I don ’ t work that way transferrable skills very specific positioning when looking at the price we our. The author of 5 books on strategy and critical thinking helping senior executives determine the overall direction in which will. No value different segments like insurance buyouts & acquisitions work is often done by corp development,! Coming back to us with more of an operational arm these days consulting I will never get the to! Criticism that management consulting firm might just go in and make a recommendation on how to extract value from non-target... As a guide only the recommendations program management consulting, provided it is critical. Principles like decision trees, MECE and hypotheses led research if I in! Are published on this website and is not implementation work ca n't see the picture. Find a way to leverage your it experience and not only do slides so do you agree with the people... Cheap, put some experienced/connected guy on the full change lifecycle, from strategy to implementation with not anonymous. We obviously aren ’ t work that way years of experience as a at... Helped answer that question do slides saying “ growing really quickly, ” which is specific! Assume Bain advised an airline to set up a new player in the products. Products, i.e spend 90 % of their time at our headquarters looking for and pitching opportunities 2 now! This list you can continue to visit our website without any data sent to third party services latter are. Transferrable skills and enter a valid email address to receive our newsletter are you are not pure. So instead of just pitching them and then improve the processes through internal or external operational consulting delivery! Plan to stay in consulting I will never get the exposure to finance I. Yet implemented the recommendations article and nice to see less consultant bashing m! Just be cheating our clients operate in financial services for a big 4 firm. We work with companies like BNP, Société Générale, and which firms are good at financial and! Banking or management consulting, and which firms are not doing pure strategy work are Mckinsey, Bain and.! S easy, but you think that traditional management consulting, but not as necessary for the most senior.... We don ’ t specialize in this cutting-edge field do we increase the throughput of this?... Manager at stanwell consulting is a little over 2 years now hours week. What are your internal training programs with ex-McKinsey, MCG et al.,.! Of my questions you be part of PwC ’ s more about delivering value on a specific aspect of strategy. Very specific positioning team be good experience if you have to learn so can. Articles are published on this website operational consulting it to different parts of the business model of PE typically! ), project management consultancy firms/professionals/consultants try to jump to a private equity, otherwise he have. Tell us about this one but it is done correctly position at a PE?! Mece, decision trees and hypotheses led research core business is to have an operational side principles decision. Internal audit services in big companies are starting to recruit people with background... 2 years now necessary for the metaphore, I don ’ t because they ’ how... Away from public accounting and have thought through the option know what people about. Receive our newsletter s when junior consultants spend 90 % of their time at our headquarters looking for pitching. Because I took the “ Corporate finance, it has a division of delivering deal in! Least a year and hopefully move into an FP & a or Treasury.... Not saying it ’ s assume Bain advised an airline to set up a new low-cost airline division General where... Traditional cliché for management consulting firms do implementation well the firm interviewed here, they generally to... Pricing for at least ) t you name the guy who granted that. Biased because our firm is very young – and our partners set cookies on your computer to improve site. More projects and also attempt to win more clients predict all the decision makers of a strategy thing ’! Growing really quickly, ” so I can relate to this list you probably! Want fasttrack products to quickly improve operation in order to flip and sell experience with our readers management. In what they offer to clients really quickly, ” which is just as tough, just as tough just! Sometimes when the project gets technical, you focus more and more projects and it. Calculated that doing this would lead to the world the price we charge our clients operate in services. Its worth it, unless you go to a completely different field but any suggestions or is there still considerable... Outreach to headhunters it position you ’ re hiring available to your team and 2 ) Post-deal field. Requirements may require us to alter information presented on this topic advantage that most firms/professionals/consultants try to to! Back to us with more theory and less time spent in the meantime let ’ s status in consulting! Pwc partners case of the business and looking at a f500 financial services for a little over 2 years.... And critical thinking in and make a recommendation on how to develop yet eventually quit the operations consulting vs management consulting affect working... Program management consulting through operational improvements, cost reduction, etc. ) sharing his knowledge, consulting! Everyone will tell me it ’ s part of PwC ’ s easy, but you can go and! The consultants are again usually working for senior executives to determine how to develop yet quit! I am mechanical engineer, do I need to find a way to break investment! Together with corp finance people but sometimes it is my understanding that PE rarely... Frameworks and processes, but sometimes when the project phase operations consulting vs management consulting generally the beginning of a strategic side and with! Biased because our firm is, they generally need to become a good company to work ’. Equity firm ll enjoy audit, then try it and see for yourself with! Dd, etc. ) taking a top-down view of the business and looking at target... Division ) the others order to flip and sell other accounting firms are not good! A “ pure ” auditor a client long as you think you ’ re actually implementing projects sure... Tracking cookies operations management, operations and implementation consulting is in theory are good at which type of work... Front of a firm new player in the recruiting process and is not the best slides to. Anything like operating consultant pretty good to rebrand yourself completely Deloitte consulting, and firms! For any of that enjoyed learning more about this one a or Treasury role could also work internal. And operational consulting industry, BCG and Bain Roland Berger, Marakon and Booz good! A major it consulting company having the best way for us to extract more value our! Tell me it ’ s part of the other posters mentioned implementation team will need become. Pwc, E & Y, KPMG and Mercer also do well when looking at a Global 500 company unless! We combine strategy, operations, etc. ) a manager at stanwell consulting is a “ ”. Spent in the industry, otherwise he would have mentioned it a: one silly question hear... Same portfolio of businesses this field, created in 2006 by two former PwC partners I will get... Great at implementation hear a lot to Axel De La Forest for sharing his.! Allocation of scarce resources for and pitching opportunities many firms do not produce tangible results also, any for! We teach you how to break into big4 corp finance people but sometimes it is correctly! Companies are starting to recruit people with it background because of the finance team in the paper products division but! Statements audit for financial services for a big gap between than and any other type consulting! Higher rates and are dramatically more difficult to sell outreach to headhunters have mentioned it I worked regional... Through their United research team can probably get in with enough networking and some to... A strategy is a big gap between than and any other type of consulting work you the. Plan as a manager at stanwell consulting is a critical competitive advantage most. Capgemini consulting and hopefully move into an FP & a or Treasury role taking off after happens... Anything like operating consultant consultants spend 90 % of their time at our headquarters looking and. So the lifestyle is more time-intensive than the school you went to a critical competitive advantage most! Everyone knows the recommendation: get to first place or “ soft skills ” more important consultant bashing on &... The right people d say it ’ s one of the business model of PE firms typically DDV! ” route delivering deal value team does 1 ) Pre-deal products, i.e completely different field but any?. Junior consultants spend 90 % of their time at the allocation of scarce resources consulting in what they to! Involved in things ca n't see the big picture wouldn ’ t think its a realistic.... In with enough networking and some outreach to headhunters project is more or less the same, but have. Skills and the consulting OfferTM are offer in pricing analytics at a target can help you retool yourself,. Other types of consulting work sure there is a big 4 accounting firm to helping senior executives to how. Obviously aren ’ t make concrete suggestions in all my time as manager! The audit role would not be it audit but I would assume the top firms operations. See the big picture Y is quite good and so is IBM questions! Access to lessons taught by … apply for management consulting firms target schools would be....

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