There are many types of careers in management consulting, because these professionals work in almost every industry. Therefore, business professionals can choose a specialization that meets their individual skills and needs.
General Management Consultant
A general management analyst will understand, analyze and execute their client’s goals and processes through coaching and mentoring, according to the Bureau of Labor Statistics. They work side by side with front line supervisors and upper level managers to understand business processes, recommend changes and evaluate performance. They must identify operational and performance improvement opportunities through various models. They build and foster client communication and relationships through trust, respect and integrity. Management consultants address and confront challenging issues through encouraging dialogue, providing appropriate feedback and implementing recommendations.
As outsiders, they are able to implement and increase the accountability of actions and responsibilities. Management consultants increase employee engagement through facilitating workshops and training sessions. They analyze and deliver appropriate metric data to management. They usually have a bachelor’s degree in business or management fields. They must have the demonstrated ability to build consensus, manage conflict, facilitate problem-solving and increase collaboration among cross functional teams.
Corporate Strategy
Consulting managers who provide corporate strategy advice will help their clients direct and support operations. They may be involved in a variety of projects related to market entry, integration, profitability, positioning and segmentation. They may also be involved in strategy development, operational improvement, post-merger integration, customer positioning and capital investment decisions. These consulting managers will leverage their unique skills and abilities to lead teams and interface with client organizations. They may be involved in the analysis, development and presentation of reports for clients and stakeholders.
Consulting managers who provide corporate strategy advice may provide ongoing training, feedback and mentoring. While they work on projects, they must cultivate key partner relationships with managers, leaders and executives throughout the organization. These positive relationships serve as the platform for strategic advice, career development and vision direction. These consulting managers must understand the operational issues and strategic risks faced by clients. Based on this information, they create work plans, research projects and communication goals through quantitative data techniques.
Business Intelligence
Some management consultants specifically focus on gathering, analyzing and sharing business intelligence. They work on business and technology initiatives that focus on designing and building data-driven insights, organization and analytical processes. These management consultants leverage their business analysis expertise to shape, define and revamp their client’s data analysis capabilities and performance. These management consultants must build their skills and experience working across a variety of industries and functional areas.
Employers expect them to have worked in consulting positions involving quantitative data, IT systems and highly analytical business environments for at least five years. They must excel at taking on challenging business problems by converting raw data into meaningful information, actionable ideas and concise facts. They must be proficient in quantitative analysis, modeling and visualization using standard statistical packages and big data technology. This means that they must know how to import, clean and transform raw data into clear conclusions for executive decision making purposes.
Related Resource: What is a Marketing Manager?
Depending on the industry, a management consultant may have a master’s degree in economics, statistics, computer science, human resources, business administration and information management. The careers in management consulting also include Six Sigma, lean manufacturing and process improvements.
